3M CO
For the period ended Sep 30, 2024. Filed Oct 22, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 22, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows 1
| Nine months endedSeptember 30, | ||
|---|---|---|
| (Millions) | 2024 | 2023 |
| Cash Flows from Operating Activities | ||
| Net income (loss) including noncontrolling interest | $3,460 | $(7,926) |
| Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by operating activities | ||
| Depreciation and amortization | 1,041 | 1,450 |
| Company pension and postretirement contributions | (116) | (85) |
| Company pension and postretirement expense | 953 | 113 |
| Stock-based compensation expense | 242 | 222 |
| Gain on business divestitures | — | (36) |
| Deferred income taxes | 293 | (3,468) |
| Changes in assets and liabilities | ||
| Accounts receivable | (87) | (371) |
| Inventories | (172) | 236 |
| Accounts payable | 8 | 118 |
| Accrued income taxes (current and long-term) | (152) | (369) |
| Other — net | (5,469) | 14,810 |
| Net cash provided by (used in) operating activities | 1 | 4,694 |
| Cash Flows from Investing Activities | ||
| Purchases of property, plant and equipment (PP&E) | (890) | (1,257) |
| Proceeds from sale of PP&E and other assets | 55 | 114 |
| Purchases of marketable securities and investments | (2,220) | (1,143) |
| Proceeds from maturities and sale of marketable securities and investments | 1,022 | 1,292 |
| Proceeds from sale of businesses, net of cash sold | — | 60 |
| Other — net | (27) | 28 |
| Net cash provided by (used in) investing activities | (2,060) | (906) |
| Cash Flows from Financing Activities | ||
| Change in short-term debt — net | (205) | 485 |
| Repayment of debt (maturities greater than 90 days) | (2,653) | (2,434) |
| Proceeds from debt (maturities greater than 90 days) | 8,367 | 2,011 |
| Purchases of treasury stock | (1,096) | (31) |
| Proceeds from issuance of treasury stock pursuant to stock option and benefit plans | 68 | 245 |
| Dividends paid to shareholders | (1,604) | (2,483) |
| Cash transferred to Solventum related to separation, net | (616) | — |
| Other — net | (83) | (16) |
| Net cash provided by (used in) financing activities | 2,178 | (2,223) |
| Effect of exchange rate changes on cash and cash equivalents | (2) | (80) |
| Net increase (decrease) in cash and cash equivalents | 117 | 1,485 |
| Cash and cash equivalents at beginning of year | 5,933 | 3,655 |
| Cash and cash equivalents at end of period | $6,050 | $5,140 |
1 The Consolidated Statements of Cash Flows include the results of continuing and discontinued operations and, therefore, also include cash and cash equivalents associated with Solventum through its April 2024 separation from 3M that were presented in current assets of discontinued operations in the 3M Consolidated Balance Sheet.
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