3M research and development expenses

Author- | Posted- | Updated: November 21, 2018 |

Research and development expenses of 3M

3M research and development expenses in millions from 2009 to 2017
YearR&D expenses
2009$1,293
2010$1,434
2011$1,570
2012$1,634
2013$1,715
2014$1,770
2015$1,763
2016$1,735
2017$1,850

3M relies heavily on Research and development expenses for its profits and growth. In 2017, 3M’s research and development expenditure climbed to $1.85 billion from $1.7 Billion in the previous year. Main R&D costs in 2017 included the  basic scientific research and the application of scientific advances in the development of new and improved products. It totalled $1.35 Billions. The related expenses include the technical support, patent costs as well as the investments into the R&D related ventures. 3M invests about 5.8% of its revenue back into Research and development. Its investment into R&D has kept the brand strong and helps produce a steady stream of more than 3000 patents and several new and unique products each year.

Sources:

Data sourced from the annual reports of 3M to be found on its investors website.

https://www.3m.com/3M/en_US/company-us/about-3m/research-development/

http://s2.q4cdn.com/974527301/files/doc_financials/2017/Annual/2017_3M_Annual_Report.pdf

More on 3M – Financial data 

Abhijeet Pratap

Abhijeet has been blogging on educational topics and business research since 2016. He graduated with a Hons. in English literature from BRABU and an MBA from the Asia-Pacific Institute of Management, New Delhi. He likes to blog and share his knowledge and research in business management, marketing, literature and other areas with his readers.