3M TO REPATRIATE $1.7BILLION

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3M TO REPATRIATE $1.7BILLION

 user 2005-07-13 at 11:01:00 am Views: 73
  • #12004

    3M to repatriate $1.7B
    July 2005 – St Paul (MN): 3M has announced that it plans to reinvest $1.7 billion of foreign earnings in the US. The company will record a Q2 tax charge as a result.

    3M said the tax charge will amount to $75 million and will reduce earnings for the quarter by $0.10 per share.

    The company has forecast Q2 EPS of between $0.98 and $1.