Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M | ||||||||||||
Amount Reclassified from | ||||||||||||
(Millions) | Accumulated Other Comprehensive Income | Location on Income Statement | ||||||||||
Details about Accumulated Other Comprehensive Income Components | Year ended December 31, 2013 | Year ended December 31, 2012 | Year ended December 31, 2011 | |||||||||
Gains (losses) associated with, defined benefit pension and postretirement plans amortization | ||||||||||||
Transition asset | $ | 1 | $ | 1 | $ | 2 | See Note 10 | |||||
Prior service benefit | 77 | 84 | 75 | See Note 10 | ||||||||
Net actuarial loss | (647) | (700) | (552) | See Note 10 | ||||||||
Total before tax | (569) | (615) | (475) | |||||||||
Tax effect | 197 | 219 | 168 | Provision for income taxes | ||||||||
Net of tax | $ | (372) | $ | (396) | $ | (307) | ||||||
Debt and equity security gains (losses) | ||||||||||||
Sales or impairments of securities | $ | ― | $ | ― | $ | (10) | Selling, general and administrative expenses | |||||
Total before tax | ― | ― | (10) | |||||||||
Tax effect | ― | ― | 4 | Provision for income taxes | ||||||||
Net of tax | $ | ― | $ | ― | $ | (6) | ||||||
Cash flow hedging instruments gains (losses) | ||||||||||||
Foreign currency forward/option contracts | $ | (11) | $ | 41 | $ | (87) | Cost of sales | |||||
Foreign currency forward contracts | (108) | 42 | (30) | Interest expense | ||||||||
Commodity price swap contracts | (2) | (10) | (6) | Cost of sales | ||||||||
Interest rate swap contracts | (1) | (1) | ― | Interest expense | ||||||||
Total before tax | (122) | 72 | (123) | |||||||||
Tax effect | 45 | (26) | 44 | Provision for income taxes | ||||||||
Net of tax | $ | (77) | $ | 46 | $ | (79) | ||||||
Total reclassifications for the period, net of tax | $ | (449) | $ | (350) | $ | (392) |
Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component | ||||||||||||||||||
(Millions) | Cumulative Translation Adjustment | Defined Benefit Pension and Postretirement Plans Adjustment | Debt and Equity Securities, Unrealized Gain (Loss) | Cash Flow Hedging Instruments, Unrealized Gain (Loss) | Total Accumulated Other Comprehen-sive Income (Loss) | |||||||||||||
Balance at December 31, 2010, net of tax | $ | 374 | $ | (3,879) | $ | (6) | $ | (32) | $ | (3,543) | ||||||||
Other comprehensive income (loss), | ||||||||||||||||||
before tax: | ||||||||||||||||||
Amounts before reclassifications | (253) | (2,452) | (10) | (39) | (2,754) | |||||||||||||
Amounts reclassified out | ― | 475 | 10 | 123 | 608 | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
before tax | (253) | (1,977) | ― | 84 | (2,146) | |||||||||||||
Tax effect | (7) | 701 | ― | (30) | 664 | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
net of tax | (260) | (1,276) | ― | 54 | (1,482) | |||||||||||||
Balance at December 31, 2011, net of tax | $ | 114 | $ | (5,155) | $ | (6) | $ | 22 | $ | (5,025) |
Other comprehensive income (loss), | ||||||||||||||||||
before tax: | ||||||||||||||||||
Amounts before reclassifications | 133 | (204) | 6 | 3 | (62) | |||||||||||||
Amounts reclassified out | ― | 615 | ― | (72) | 543 | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
before tax | 133 | 411 | 6 | (69) | 481 | |||||||||||||
Tax effect | (17) | (211) | (2) | 24 | (206) | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
net of tax | 116 | 200 | 4 | (45) | 275 | |||||||||||||
Balance at December 31, 2012, net of tax | $ | 230 | $ | (4,955) | $ | (2) | $ | (23) | $ | (4,750) |
Other comprehensive income (loss), | ||||||||||||||||||
before tax: | ||||||||||||||||||
Amounts before reclassifications | (462) | 1,361 | ― | (98) | 801 | |||||||||||||
Amounts reclassified out | ― | 569 | ― | 122 | 691 | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
before tax | (462) | 1,930 | ― | 24 | 1,492 | |||||||||||||
Tax effect | 44 | (690) | ― | (9) | (655) | |||||||||||||
Total other comprehensive income (loss), | ||||||||||||||||||
net of tax | (418) | 1,240 | ― | 15 | 837 | |||||||||||||
Balance at December 31, 2013, net of tax | $ | (188) | $ | (3,715) | $ | (2) | $ | (8) | $ | (3,913) |