Cash payment from Food Safety business split-off, net of divested cash

[Table of](#i7860c65eab2647ffbae7e3867c1cf525_7) [Contents](#i7860c65eab2647ffbae7e3867c1cf525_7)3M Company and SubsidiariesConsolidated Statement of Cash Flows(Unaudited)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Nine months endedSeptember 30, |
| (Millions) |  | 2022 |  | 2021 |
| Cash Flows from Operating Activities |  |  |  |  |
| Net income including noncontrolling interest  |  | $ | 5,248  |  |  | $ | 4,589  |  |
| Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities |  |  |  |  |
| Depreciation and amortization  |  | 1,371  |  |  | 1,408  |  |
| Company pension and postretirement contributions  |  | (102) |  |  | (121) |  |
| Company pension and postretirement expense  |  | 124  |  |  | 137  |  |
| Stock-based compensation expense  |  | 226  |  |  | 227  |  |
| Gain on business divestitures |  | (2,724) |  |  | —  |  |
| Deferred income taxes  |  | (495) |  |  | (155) |  |
| Changes in assets and liabilities  |  |  |  |  |
| Accounts receivable  |  | (467) |  |  | (324) |  |
| Inventories  |  | (1,018) |  |  | (823) |  |
| Accounts payable  |  | 175  |  |  | 340  |  |
| Accrued income taxes (current and long-term)  |  | (11) |  |  | (41) |  |
| Other — net  |  | 1,342  |  |  | 212  |  |
| Net cash provided by (used in) operating activities  |  | 3,669  |  |  | 5,449  |  |
|  |  |  |  |  |
| Cash Flows from Investing Activities |  |  |  |  |
| Purchases of property, plant and equipment (PP&E)  |  | (1,243) |  |  | (1,047) |  |
| Proceeds from sale of PP&E and other assets  |  | 65  |  |  | 44  |  |
|  |  |  |  |  |
| Purchases of marketable securities and investments  |  | (840) |  |  | (1,810) |  |
| Proceeds from maturities and sale of marketable securities and investments |  | 868  |  |  | 1,363  |  |
| Proceeds from sale of businesses, net of cash sold |  | 13  |  |  | —  |  |
| Cash payment from Food Safety business split-off, net of divested cash |  | 478  |  |  | —  |  |
| Other — net  |  | 1  |  |  | 18  |  |
| Net cash provided by (used in) investing activities  |  | (658) |  |  | (1,432) |  |
|  |  |  |  |  |
| Cash Flows from Financing Activities |  |  |  |  |
| Change in short-term debt — net  |  | 340  |  |  | 4  |  |
| Repayment of debt (maturities greater than 90 days)  |  | (1,179) |  |  | (450) |  |
| Proceeds from debt (maturities greater than 90 days)  |  | 1  |  |  | 1  |  |
| Purchases of treasury stock  |  | (928) |  |  | (1,261) |  |
| Proceeds from issuance of treasury stock pursuant to stock option and benefit plans |  | 310  |  |  | 566  |  |
| Dividends paid to shareholders  |  | (2,550) |  |  | (2,572) |  |
| Other — net  |  | (29) |  |  | (21) |  |
| Net cash provided by (used in) financing activities  |  | (4,035) |  |  | (3,733) |  |
|  |  |  |  |  |
| Effect of exchange rate changes on cash and cash equivalents  |  | (136) |  |  | (40) |  |
|  |  |  |  |  |
| Net increase (decrease) in cash and cash equivalents  |  | (1,160) |  |  | 244  |  |
| Cash and cash equivalents at beginning of year  |  | 4,564  |  |  | 4,634  |  |
| Cash and cash equivalents at end of period |  | $ | 3,404  |  |  | $ | 4,878  |  |

The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.6
