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Compute net operating assets

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Reference no: EM131807914

Net sales $29,904 $ 29,611 $ 226,662
Operating expenses      
Cost of sales 15,685 15,693 13,831
Selling, general and administrative expenses 6,102 6,170 5,479
Research, development and related expenses 1,634 1,570 1,434
  --
 -- --
Total operating expenses 23,421
 23,433 20,744
Operating income 6,483 6,178 5,918
Interest expenses and income      
Interest expense 171 186 201
Interest income (39) (39) (38)
Total interest expense--net 132 147 163
Income before income taxes 6,351 6,031 5,755
Provision for income taxes 1,840 1,674 1,592
Net income including noncontrolling interest $4,511 $4,357 $4,163
Less: Net income attributable to noncontrolling interest 67 74 78
Net income attributable to 3M $ 4,444 $ 4,283 $ 4,085

 

Assets    
 Current Assets    
Cash and cash equivalents $ 2,883 $ 2,219
Marketable securities-current 1,648 1,461
Accounts receivable-net of allowances of $105 and $108  4,061 3,867
Inventories    
Finished goods 1,754 1,536
Work in process 1,186 1,061
Raw materials and supplies 897 819
Total inventories 3,837 3,416
Other current assets 1,201 1,277
Total current assets 13,630 12,240
Marketable securities-noncurrent 1,162 896
Investments 163 155
Property, plant and equipment 22,525 21,166
Less: Accumulated depreciation (14,147) (13,500)
  Property, plant and equipment-net 8,378 7,666
Goodwill 7,385 7,047
Intangible assets-net 1,925 1,916
Prepaid pension benefits 16 40
Other assets 1,217 1,656
Total assets $ 33,876 $ 31,616
Liabilities    
Current liabilities    
Short-term borrowings and current portion of long-term debt $ 1,085 $ 682
Accounts payable 1,762 1,643
Accrued payroll 701 676
Accrued income taxes 371 355
Other current liabilities 2,281 2,085
Total current liabilities 6,200 5,441
Long-term debt 4,916 4,484
Pension and postretirement benefits 3,086 3.972
Other liabilities 1,634 1,857
Total liabilities $15,836 $15,754
Equity    
3M Company shareholders' equity $9 $9
Additional paid-in capital 4,044 3,767
Retained earnings 30,679 28,348
Treasury stock (12,407) (11,679)
Accumulated other comprehensive income (loss) (4,750) (5,025)
Total 3M Company shareholders' equity 17,575 15,420
Noncontrolling interest 465
 442
Total equity $18,040
 $15,862
Total liabilities and equity $33,876

$31,616

1.  Compute net operating assets (NOA) for 2012 and 2011. Treat noncurrent investments as a nonoperating item.

2. Compute net nonoperating obligations (NNO) for 2012 and 2011.

Reference no: EM131807914

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