Financial statements

Item 1.  Financial Statements.
My Company and Subsidiaries
Consolidated Statement of Income
(Unaudited)
		Three months ended						Six months ended
		June 30						June 30
(Millions, except per share amounts)		2009			2008			2009			2008
Net sales		$	5,719		$	6,739		$	10,808		13,202
Operating expenses
Cost of sales		2,977			3,510			5,749			6,846
Selling, general and administrative expenses		1,242			1,394			2,433			2,669
Research, development and related expenses		309			363			632			714
(Gain)/loss from sale of businesses		—			23			—			23
Total operating expenses		4,528			5,290			8,814			10,252
Operating income		1,191			1,449			1,994			2,950
Interest expense and income
Interest expense		55			51			110			106
Interest income		(7		)	(18		)	(18		)	(48		)
Total interest expense (income)		48			33			92			58
Income before income taxes		1,143			1,416			1,902			2,892
Provision for income taxes		351			453			580			923
Net income including noncontrolling interest		$	792		$	963		1,322			1,969
Less: Net income attributable to noncontrolling interest		9			18			21			36
Net income attributable to 3M		$	783		$	945		$	1,301		$	1,933
Weighted average My Companycommon shares outstanding – basic		696.8			702.1			695.2			704.3
Earnings per share attributable to My Companycommon shareholders – basic		$	1.12		$	1.35		$	1.87		2.74
Weighted average My Companycommon shares outstanding – diluted		700.3			712			698.1			714.6
Earnings per share attributable to My Companycommon shareholders – diluted		$	1.12		$	1.33		$	1.86		2.7
Cash dividends paid per My Company common share		$	0.51		$	0.5		$	1.02		$	1
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.