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3M FactsYear End 2004
SalesWorldwide ..…………… $20.0 billionInternational (61% of total)………….. $12.1 billion
EarningsNet income – reported … $2.99 billion
R&D ExpendituresFor 2004 …...…………….… $1.1 billion Total last 5 years ..………… $5.5 billion
EmployeesWorldwide
…...………………….. 67,071 United States ..………………… 32,648
© 3M 2004. All rights reserved.
3M
Today’s StructureDisplay and
GraphicsBusiness
HealthCare
Business
IndustrialBusinessElectro and
CommunicationsBusiness
Safety, Securityand Protection
Services Business
Consumer and
Office Business
TransportationBusiness
© 3M 2004. All rights reserved.
3M
Industrial18%
D&G16%
C&O14%
E&C10%
Trans8%
SS&PS11%
HC23%
*3M 2004 Sales $20.0B
Health Care
Products/Services• Specialty pharmaceuticals & drug delivery systems• Medical supplies• Dental & orthodontic solutions• Software solutions for hospitals• Fastening systems for personal hygiene products
End Markets• Dermatology, women’s health & other specialties• Hospitals & doctors• Dentists & orthodontists• Other pharmaceutical companies• Personal hygiene
2004 Sales= $4.2B
Industrial
$3.4B
Products/Services• High-performance adhesives/tapes• Abrasives for grinding, sanding, polishing, etc.• Fluoropolymers• Supply chain execution solutions
End Markets• General industrial• Metals, plastics, wood (furniture)• Transportation• Construction• Electronics
2004 Sales= $3.8B
D&G16%
C&O14%
E&C10%
Trans8% HC
23%
SS&PS11% Industrial
18%
*3M 2004 Sales $20.0B
End Markets• Electronic displays for consumer & industrial• Roadway construction• Commercial advertising• Federal, state & local governments
Products/Services• Vikuiti™ brightness enhancement films• Projection display components• Touch systems• Traffic safety systems/services• Scotchprint® large-format graphics
Display & Graphics
$3.0B
C&O14%
E&C10%
Trans8%
D&G16%
HC22%
SS&PS10%
Industrial20%
*3M 2004 Sales $20.0B
2004 Sales= $3.4B
Consumer & Office
End Markets• Grocery, Drug, Mass Retail, Clubs• Office Superstores• Home Centers, Hardware• Arts & Crafts, Dollar, Paint/ Drywall
Products/Services• Scotch® transparent tapes• Post-it® notes & flags• Scotch-Brite™ & O-Cel-O™ sponges/pads• Filtrete™ filters, Command™ adhesive• Scotchgard™ protection for fabric, etc.• Nexcare™ first aid
$2.6B
2004 Sales= $2.9B
E&C10%
Trans8%
Industrial18%
SS&PS11%
HC23%
D&G16%
C&O14%
*3M 2004 Sales $20.0B
E&C10%
Trans8%
Industrial18%
SS&PS11%
HC23%
D&G16%
C&O14%
Safety, Security &Protection Services
Products/Services• Personal protection equipment• Theft/counterfeit prevention systems• Asset tracking systems• Fire Protection• Films for solar/blast protection
End Markets• Personal protection• General industrial• Government• Building maintenance• Construction
2004 Sales= $2.1B
*3M 2004 Sales $20.0B
Electro & Communications
Products/Services• Electrical products• Flexible circuits• Electronic and interconnect solutions• Telecommunications products
End Markets• Industrial & power utilities• Electrical construction & maintenance• Electronics• Telephone & computer networks• Cable television
2004 Sales= $1.9B
Trans9%E&C
10%
Industrial18%
SS&PS11%
HC20%
D&G18%
C&O14%
*3M 2004 Sales 20.0B
Transportation
Products/Services• Tapes and adhesives• Abrasives• Paint preparation systems• Respiratory protection & safety• Paint replacement films
End Markets• Automotive OEMs• Auto body shops• Marine and specialty vehicles• Aerospace
$1.5B
2004 Sales= $1.7B
Trans8%E&C
10%
Industrial18%
SS&PS11%
HC23%
D&G16%
C&O14%
*3M 2004 Sales $20.0B
Finance Mission
To Lead 3 in Creating Strategies that Maximize
Shareholder Value, Flawlessly Execute Our
Fiduciary Responsibilities, and Develop a Pool
of Leadership Candidates for Opportunities
within Finance or 3Business Units.
3M
• Creating and Protecting Shareholder Value
• Financial Counsel, Team Participation
• Planning and Forecasting
• External/Internal Reporting
• Internal Controls
• Investment Analysis
• Mfg. Plant Accounting & Counsel
Responsibilities
3M
Patrick D. Campbell
CFO
Patrick D. Campbell
CFO
Tax &Treasurers
Tax &Treasurers
Finance Organization
FP&AFP&A
InvestorRelationsInvestorRelationsM & AM & A
Corporate AccountingCorporate
Accounting
GeneralAccountingGeneral
AccountingSOX
ComplianceSOX
Compliance
CorporateAudit
CorporateAudit
Business Finance
Business Finance
BusinessAccounting
Center
BusinessAccounting
CenterAccountingPolicies &Research
AccountingPolicies &Research
Six SigmaFT&D
Six SigmaFT&D GBPGBP
Role
• An Independent & Objective Assurance & Consulting Activity…
• Purpose Is To Evaluate & Improve Risk Management & Control Processes…
• Acts As A Partner To 3M Business Units
Opportunities
• Broad Exposure to 3M
• Travel
Corporate Audit
3M
Business FinanceRole• Financial Counsel to Business Units & Plants• Protect & Enhance Shareholder Value• Planning and Forecasting• Organization Structure Mirrors the
Corporation• Finance Group w/in Each Business Unit• Integral Part of the Business Team
Opportunities• Business Counsel• Plant Finance
3M
Corporate AccountingRole• Accurate, Efficient, & Timely
Internal/External Financial Reporting• Governance activities / Internal Controls• Historical/Current Financial Analysis• Protect & Enhance Shareholder Value• Standardize and Automate Processes
Opportunities• Business Accounting• Corporate Accounting
3M
Treasury & TaxTreasury• Financial Risk Management
• Insurance
• Cash Management
• Credit
• Benefit Funds Investment
• Financial Counsel
Tax• Compliance
• Tax Planning
• Financial Counsel 3M
M&A, FP&A, IRMergers & Acquisitions (M&A)• Evaluate M&A Opportunities
– Exploratory Analysis
– Due Diligence
– Integration PlanningFinancial Planning & Analysis (FP&A)• Corporate Initiatives• Ad hoc Analysis for Finance Executives• New Department...Opportunity to Define RoleInvestor Relations (IR)• Face of 3M to the Investment Community
– Qtrly Earnings Announcements & Investment Conferences
– Meetings with Analysts and Portfolio Managers 3M
Finance Hiring Model
Objective / Goal:
Quickly develop high performing new hires by providing meaningful learning experiences and leadership opportunities.
Corporate Auditing, Business Finance and the Accounting Center will be the primary entry points for most new college graduate hires within the Finance Organization.
3M
Finance Leadership Program• Provide undergraduates broad finance
experience at accelerated rate• A 24 month program consisting of two -
twelve month assignments in different functional areas followed by a third assignment
• Program begins July of each year• Regular performance evaluations during each
assignment• Six Sigma Start during first assignment
3M
Finance Leadership Program
• Business Finance• Business Accounting
Center• Corporate Accounting• Corporate Auditing• Credit• Financial Planning &
Analysis
• Insurance• Investor Relations• Mergers &
Acquisitions• Tax• Treasurers
3M
Assignment Opportunities in any area of Finance:
Recommend a core experience that includes Corporate Auditing, Business Finance and/or the Accounting Center
Full-time Hires
FLP
Treasury
Financial Markets Analyst
Pension Analyst
Other
Business Unit / Six Sigma
Tax Analyst
IR Analyst
FP & A
M & A
Corporate Auditing Advanced Auditor
3M
Career Options
Accounting Center Corporate Accounting
Business Accounting
Business Finance Business Financial Analyst
Plant Financial Analyst
Finance Hiring ModelTraining & Development• On-the-job Training & Development Planning• New Hire Orientation/Training• New Employee Roundtable• Mentoring Program / Buddy Program• Finance University• Certifications• Professional Organizations• Six Sigma Training• Relocation Opportunities• Six Sigma Start
The Most Successful Employees AreConstantly Growing Their Skill Sets 3M
Bottom Line = Be a Leader!
• Accounting & Finance Majors
• Solid Academic Performance
• Excellent Communication Skills
• Relevant Work Experiences
• Leadership Experiences
• Willing to Travel
• Geographically Flexible
• Change Agent
What We Look For…
3M
Teamwork
Finance CompetencyTechnical Competency• Business Knowledge
• Finance & Accounting Knowledge
• Value Creation
• Financial Analysis
• Business Partnering
• IT Skills (applications, databases)
• Business Controls/Internal Controls
• External Industry & Growth Skills
• Global Knowledge & Perspective
• Influencing & Learning
• Developing People
Leadership• Charts the Course• Raises the Bar• Energizes Others• Resourcefully Innovates• Lives 3M Values• Deliver Results
3M
The Twin Cities
• Population: 2.6 million
• Outdoors: lakes, parks, rivers
• Theatre/Arts/Museum/Music
• Shopping & Nightlife: Two
Downtowns, Mall Of America
• Professional Sports: Timberwolves, Lynx, Twins, Vikings, Wild, Saints, Thunder
Twin Cities Facts
• Most theater seats per capita than any city other than NYC
• More golfers per capita than any other US city• More shoreline than CA, FL, HI combined (MN)• Accolades:
– Third “Cities that rock”– Second coolest community for young talent– Cleanest city– Most walkable community– Second best city for running– Most Livable State
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