Next we go to page 48 and the balance sheet.
And we go down to the stockholder's equity section.
So here we can see shareholders' equity.
There's common stock with par value of $.01.
They don't tell us shares issued or shares authorized here.
We could sort of ball park the shares issues because they have a balance
of 9 million in common stock, and
if the par value was 1 cent that would be about 900 million shares issued.
We see the shares outstanding as 687 million.
Then we have the initial paid capital, retained earnings, here's treasury stock.
They don't tell us how much shares are in treasury.
But if we have about 900 million here, and about 687 here,
then it's about 213 million.
We'll be able to find the exact figures later.
One thing I want you to keep in you head though,
is this 12 million 407 of treasury stock.
Later on we'll figure out the average price they pay for treasury stock,
once we figure out the precise shares.
And then of course here's our good freind accumulated other comprehensive income, or
in this case accumulated other comprehensive loss of 4.75 million.
Now I know you're sitting here looking at the non controlling interest and
thinking to yourself, why won't he ever talk about non controlling interest?
I'll just briefly remind you what it is, but
it is something that we're not going to get into in this course.
So what happens is, 3M buys more than 50% of the common stock of another company.
They now control the company because they could out vote the other shareholders.
They bring all the assets and
liabilities of that company onto their financial statement.
That's why it's called a consolidated balance sheet,
consolidated statement of income.
But their shareholders don't hold 100% of those assets and liabilities, so this
non controlling interest represents the ownership of the assets and liabilities.
By people that are not 3M owners.
These are the people that own the minority stakes in the subsidiaries
that then get consolidated.
And again, we'd have to go through consolidation accounting for
you to fully sort of understand the implications of this.
We don't have the time, you could do a whole course on this,
I'm not going to do a whole course on this.
So it's just beyond the scope of this course.