3M COMPANY Consolidated Balance Sheets At December 31 ($ millions) Current assets 2018 2017 Cash and cash equivalents. Marketable securities Accounts receivable Total inventories $ 2,853 $ 3,053 380 1,076 4,911 5,020 4,366 Prepaids Other current assets. 4,034 741 937 Total current assets. 349 266 13,709 8,738 10,051 2,657 1,345 Property, plant and equipment, net. 14,277 8,866 Goodwill 10,513 2,936 1,395 Intangible assets-net Other assets. Total assets $36,500 $37,987 Current liabilities Short-term borrowings and current portion of long-term debt.. Accounts payable Accrued payroll. $ 1,853 1,945 $ 1,211 2,266 749 870 243 310 Accrued income taxes. 2,775 2,709 Other current liabilities 7,687 7,244 13,411 Total current liabilities 12,096 3,620 Long-term debt... Pension and postretirement benefits Other liabilities 2,987 3,010 2,962 26,652 26,365 Total liabilities. continued 00000000 IRII
3M COMPANY Consolidated Balance Sheets At December 31 ($ millions) Current assets 2018 2017 Cash and cash equivalents. Marketable securities Accounts receivable Total inventories $ 2,853 $ 3,053 380 1,076 4,911 5,020 4,366 Prepaids Other current assets. 4,034 741 937 Total current assets. 349 266 13,709 8,738 10,051 2,657 1,345 Property, plant and equipment, net. 14,277 8,866 Goodwill 10,513 2,936 1,395 Intangible assets-net Other assets. Total assets $36,500 $37,987 Current liabilities Short-term borrowings and current portion of long-term debt.. Accounts payable Accrued payroll. $ 1,853 1,945 $ 1,211 2,266 749 870 243 310 Accrued income taxes. 2,775 2,709 Other current liabilities 7,687 7,244 13,411 Total current liabilities 12,096 3,620 Long-term debt... Pension and postretirement benefits Other liabilities 2,987 3,010 2,962 26,652 26,365 Total liabilities. continued 00000000 IRII
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Trying to calculate NOA based on the attached picture:
| Consolidated Statements Of Earnings | ||
| $ millions | Dec. 31, 2018 | Dec. 31, 2017 |
| FROM PRIOR REVIEW (NOA) | ||
| Operating assets | ||
| Operating liabilities | ||
| Net operating assets (NOA) |
Transcribed Image Text:ng noncontrolling interest..
Less: Net income attributable to noncontrolling interest..
7,548
2,679
1,637
Net income attributable to 3M. . . .
5,363
4,869
14
11
* Interest expense, gross is $350 milion in 2018 and $322 million in 2017.
$ 5,349
$ 4,858
3M COMPANY
Consolidated Balance Sheets
At December 31 ($ millions)
Current assets
2018
2017
Cash and cash equivalents.
Marketable securities
Accounts receivable
$ 2,853
$ 3,053
380
1,076
..
Total inventories.
Prepaids..
Other current assets
5,020
4,911
4,366
4,034
741
937
Total current assets.
349
266
Property, plant and equipment, net.
Goodwill. .
Intangible assets-net
Other assets.
13,709
14,277
8,866
8,738
10,051
2,657
10,513
2,936
1,395
1,345
Total assets.
$36,500
$37,987
Current liabilities
$ 1,853
1,945
Short-term borrowings and current portion of long-term debt..
Accounts payable
Accrued payroll....
Accrued income taxes..
.. $ 1,211
2,266
749
870
243
310
2,775
2,709
Other current liabilities
7,687
7,244
13,411
2,987
3,010
Total current liabilities
Long-term debt....
Pension and postretirement benefits . ..
12,096
3,620
2,962
Other liabilities
26,365
26,652
Total liabilities.
continued
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continued from previous page
3M COMPANY
Consolidated Balance Sheets
2018
2017
At December 31 ($ millions)
3M Company shareholders' equity
Common stock par value . ..
Additional paid-in capital....
Retained earnings .. ..
Treasury stock ....
Accumulated other comprehensive income (loss)
5,643
5,352
39,115
(25,887)
(7,026)
40,636
(29,626)
(6,866)
Total 3M Company shareholders' equity
Noncontrolling interest. ..
Total equity....
9,796
11,563
.... ...
52
59
...
9,848
11,622
Total liabilities and equity . .
.... ... $36,500
$37,987
Required
z. Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and
state statutory tax rate is 22%.
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