Research and development expenses of 3M
3M research and development expenses in millions from 2009 to 2017| Year | R&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
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