what was the percentage change in the net income
3m 2019s cash and cash equivalents balance at december 31 , 2007 totaled $ 1.896 billion , with an additional $ 1.059 billion in current and long-term marketable securities . 3m 2019s strong balance sheet and liquidity provide the company with significant flexibility to take advantage of numerous opportunities going forward . the company will continue to invest in its operations to drive growth , including continual review of acquisition opportunities . as previously discussed , 3m expects to complete the acquisition of aearo holding corp . for approximately $ 1.2 billion in 2008 . 3m paid dividends of $ 1.380 billion in 2007 , and has a long history of dividend increases . in february 2008 , the board of directors increased the quarterly dividend on 3m common stock by 4.2% ( 4.2 % ) to 50 cents per share , equivalent to an annual dividend of $ 2.00 per share . in february 2007 , 3m 2019s board of directors authorized a two-year share repurchase of up to $ 7.0 billion for the period from february 12 , 2007 to february 28 , 2009 . at december 31 , 2007 , the company has $ 4.1 billion remaining under this authorization , which the company does not currently expect to fully utilize by february 28 , 2009 . in 2008 , the company expects to contribute an amount in the range of $ 100 million to $ 400 million to its u.s . and international pension plans . the company does not have a required minimum pension contribution obligation for its u.s . plans in 2008 . therefore , the amount of the anticipated discretionary contribution could vary significantly depending on the u.s.-plans funding status as of the 2008 measurement date and the anticipated tax deductibility of the contribution . future contributions will also depend on market conditions , interest rates and other factors . 3m believes its strong cash flow and balance sheet will allow it to fund future pension needs without compromising growth opportunities . the company uses various working capital measures that place emphasis and focus on certain working capital assets and liabilities . these measures are not defined under u.s . generally accepted accounting principles and may not be computed the same as similarly titled measures used by other companies . one of the primary working capital measures 3m uses is a combined index , which includes accounts receivable , inventory and accounts payable . this combined index ( defined as quarterly net sales 2013 fourth quarter at year-end 2013 multiplied by four , divided by ending net accounts receivable plus inventory less accounts payable ) was 5.3 at december 31 , 2007 , down from 5.4 at december 31 , 2006 . receivables increased $ 260 million , or 8.4% ( 8.4 % ) , compared with december 31 , 2006 . currency translation increased accounts receivable by $ 159 million year-on-year , as the u.s . dollar weakened in aggregate against a multitude of currencies . inventories increased $ 251 million , or 9.7% ( 9.7 % ) , compared with december 31 , 2006 . currency translation increased inventories by $ 132 million year-on-year . accounts payable increased $ 103 million compared with december 31 , 2006 , with $ 65 million of this year-on-year increase related to currency translation . cash flows from operating , investing and financing activities are provided in the tables that follow . individual amounts in the consolidated statement of cash flows exclude the effects of acquisitions , divestitures and exchange rate impacts , which are presented separately in the cash flows . thus , the amounts presented in the following operating , investing and financing activities tables reflect changes in balances from period to period adjusted for these effects . cash flows from operating activities : years ended december 31 .

| (Millions) | 2007 | 2006 | 2005 |
| :--- | :--- | :--- | :--- |
| Net income | $4,096 | $3,851 | $3,111 |
| Depreciation and amortization | 1,072 | 1,079 | 986 |
| Company pension contributions | (376) | (348) | (654) |
| Company postretirement contributions | (3) | (37) | (134) |
| Company pension expense | 190 | 347 | 331 |
| Company postretirement expense | 65 | 93 | 106 |
| Stock-based compensation expense | 228 | 200 | 155 |
| Gain from sale of businesses | (849) | (1,074) | — |
| Income taxes (deferred and accrued income taxes) | (34) | (178) | 402 |
| Excess tax benefits from stock-based compensation | (74) | (60) | (54) |
| Accounts receivable | (35) | (103) | (184) |
| Inventories | (54) | (309) | (294) |
| Accounts payable | (4) | 68 | 113 |
| Product and other insurance receivables and claims | 158 | 58 | 122 |
| Other — net | (105) | 252 | 198 |
| Net cash provided by operating activities | $4,275 | $3,839 | $4,204 |

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net_income_2007 = 4096
net_income_2006 = 3851
change = net_income_2007 - net_income_2006
percent_change = change / net_income_2006
answer = percent_change * 100