filings.toolsItem 6. Selected Financial Data.
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Item 6. Selected Financial Data.
| | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars in millions, except per share amounts) | 2019* | 2018** | 2017 | 2016 | 2015 | |||||||||||
| Years ended December 31: | | | | | | | | | | | | | | | | |
| Net sales | | $ | 32,136 | | $ | 32,765 | | $ | 31,657 | | $ | 30,109 | | $ | 30,274 | |
| Net income attributable to 3M | | 4,570 | | 5,349 | | 4,858 | | 5,050 | | 4,833 | | |||||
| Per share of 3M common stock: | | | | | | | | | | | | | | | | |
| Net income attributable to 3M — basic | | 7.92 | | 9.09 | | 8.13 | | 8.35 | | 7.72 | | |||||
| Net income attributable to 3M — diluted | | 7.81 | | 8.89 | | 7.93 | | 8.16 | | 7.58 | | |||||
| Cash dividends declared per 3M common share | | 5.76 | | 5.44 | | 4.70 | | 4.44 | | 3.075 | | |||||
| Cash dividends paid per 3M common share | | 5.76 | | 5.44 | | 4.70 | | 4.44 | | 4.10 | | |||||
| At December 31: | | | | | | | | | | | | | | | | |
| Total assets | | $ | 44,659 | | $ | 36,500 | | $ | 37,987 | | $ | 32,906 | | $ | 32,883 | |
| Long-term debt (excluding portion due within one year) and long-term lease obligations | | 17,629 | | 13,486 | | 12,156 | | 10,723 | | 8,799 | |
- The Company adopted ASU No. 2016-02 and related standards (collectively, Accounting Standards Codification (ASC) 842, Leases), as described in Note 1, on January 1, 2019 using the modified retrospective method of adoption. The adoption resulted in the recording of right of use assets and associated lease liabilities of $0.8 billion each as of January 1, 2019, $0.5 billion of which relates to long-term operating lease obligations.
** The Company adopted ASU No. 2014-09 and related standards (collectively, ASC 606, Revenue from Contracts with Customers), as described in Note 2, on January 1, 2018 using the modified retrospective method of adoption, the impact of which was not material to the Company’s consolidated results of operations and financial condition. Prior periods have not been restated.
Cash dividends declared and paid totaled $1.44 and $1.36 per share for each quarter in 2019 and 2018, respectively. 3M typically declares and pays dividends in the same quarter.
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