Item 2.02. Results of Operations and Financial Condition
This Current Report on Form 8-K is being furnished to include supplemental unaudited historical business segment information and consolidated income information (furnished hereunder as Exhibit 99 and incorporated herein by reference) that reflects the following:
?Changes in the measure of segment operating performance used by 3M's chief operating decision maker ?Change in accounting principle for determining net periodic pension and postretirement plan cost
The Company did not operate using this measure of segment operating performance
or employ this accounting principle for determining net periodic pension and
postretirement plan cost in any period prior to the first quarter of 2021 and
will begin to report comparative results under this basis with the filing of its
Quarterly Report on Form 10-Q for the quarter ending
The information contained in this Current Report shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, or the Exchange Act.
Forward-Looking Statements
This Current Report contains forward-looking information about 3M's financial results and estimates and business prospects that involve substantial risks and uncertainties. Forward-looking statements relate to future events and typically address the Company's expected future business and financial performance. Words such as "plan," "expect," "aim," "believe," "project," "target," "anticipate," "intend," "estimate," "will," "should," "could," "forecast" and other words and terms of similar meaning, typically identify such forward-looking statements. In particular, these include, among others, statements relating to:
•worldwide economic, political, regulatory, international trade, capital markets and other external conditions, such as interest rates, financial conditions of our suppliers and customers, trade restrictions such as tariffs in addition to retaliatory counter measures, and natural and other disasters or climate change affecting the operations of the Company or our suppliers and customers,
• risks related to public health crises such as the global pandemic associated
with the coronavirus (COVID-19),
• liabilities related to certain fluorochemicals and the outcome of
contingencies,
•the Company's strategy for growth, future revenues, earnings, cash flow, uses of cash and other measures of financial performance, and market position,
• competitive conditions and customer preferences,
• foreign currency exchange rates and fluctuations in those rates,
• new business opportunities, product development, and future performance or
results of current or anticipated products,
• fluctuations in the costs and availability of purchased components, compounds,
raw materials and energy,
• Information technology systems including ERP system roll-out and
implementations,
• Security breaches and other disruptions to information technology
infrastructure,
• the scope, nature or impact of acquisition, strategic alliance and divestiture
activities,
• operational execution, including inability to generate productivity
improvements as estimated,
• future levels of indebtedness, common stock repurchases and capital spending,
• future availability of and access to credit markets,
• pension and postretirement obligation assumptions and future contributions,
• asset impairments,
• tax liabilities and effects of changes in tax rates, laws or regulations, and
•legal and regulatory proceedings, legal compliance risks (including 3rd party
risks) with regards to environmental, product liability and other laws and
regulations in
For details of the risks stated above, see Part I, Item 1A "Risk Factors" of the
Company's annual report on Form 10-K for the year ended
2
Item 9.01. Financial Statements and Exhibits
(d) Exhibits Exhibit Number Description 99 Supplemental unaudited historical business segment information and consolidated income information (furnished pursuant to Item 2.02 hereof) reflecting changes effected during the first quarter of 2021 relative to the measure of segment operating performance and accounting principle for determining net periodic pension and postretirement plan cost 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document) 3
© Edgar Online, source