Research and development expenses of 3M
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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/
https://s2.q4cdn.com/974527301/files/doc_financials/2017/Annual/2017_3M_Annual_Report.pdf
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