Attached files
| file | filename |
|---|---|
| EX-15 - EX-15 - 3M CO | a14-14070_1ex15.htm |
| EXCEL - IDEA: XBRL DOCUMENT - 3M CO | Financial_Report.xls |
| EX-95 - EX-95 - 3M CO | a14-14070_1ex95.htm |
| EX-31.2 - EX-31.2 - 3M CO | a14-14070_1ex31d2.htm |
| EX-32.1 - EX-32.1 - 3M CO | a14-14070_1ex32d1.htm |
| EX-31.1 - EX-31.1 - 3M CO | a14-14070_1ex31d1.htm |
| EX-32.2 - EX-32.2 - 3M CO | a14-14070_1ex32d2.htm |
| 10-Q - 10-Q - 3M CO | a14-14070_110q.htm |
EXHIBIT 12
3M COMPANY AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions)
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Six months |
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June 30, |
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Year |
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Year |
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Year |
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Year |
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Year |
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2014 |
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2013 |
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2012 |
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2011 |
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2010 |
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2009 |
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EARNINGS |
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Income before income taxes* |
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$ |
3,508 |
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$ |
6,562 |
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$ |
6,351 |
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$ |
6,031 |
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$ |
5,755 |
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$ |
4,632 |
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Add: |
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Interest expense (including amortization of capitalized interest) |
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93 |
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166 |
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191 |
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206 |
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220 |
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236 |
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Interest component of the ESOP benefit expense |
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— |
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— |
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— |
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— |
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— |
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1 |
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Portion of rent under operating leases representative of the interest component |
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52 |
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103 |
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92 |
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85 |
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81 |
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76 |
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Less: |
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Equity in undistributed income of 20-50% owned companies |
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(1 |
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(1 |
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3 |
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4 |
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4 |
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4 |
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TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES |
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$ |
3,654 |
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$ |
6,832 |
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$ |
6,631 |
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$ |
6,318 |
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$ |
6,052 |
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$ |
4,941 |
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FIXED CHARGES |
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Interest on debt (including capitalized interest) |
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90 |
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166 |
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194 |
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206 |
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218 |
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246 |
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Interest component of the ESOP benefit expense |
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— |
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— |
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— |
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— |
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— |
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1 |
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Portion of rent under operating leases representative of the interest component |
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52 |
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103 |
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92 |
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85 |
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81 |
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76 |
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TOTAL FIXED CHARGES |
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$ |
142 |
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$ |
269 |
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$ |
286 |
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$ |
291 |
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$ |
299 |
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$ |
323 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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25.7 |
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25.4 |
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23.2 |
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21.7 |
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20.2 |
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15.3 |
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*2009 results included net pre-tax charges of $194 million related to restructuring actions partially offset by a gain on sale of real estate.