Finance ratio paper

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Adjusted Total Asset Turnover

3M Co., Adjusted Total Asset Turnover
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010 Dec 31, 2009 Dec 31, 2008
As Reported
Net sales (USD $ in millions) 31,657 30,109 30,274 31,821 30,871 29,904 29,611
Total assets (USD $ in millions) 37,987 32,906 32,718 31,269 33,550 33,876 31,616
Total asset turnover 0.90 1.00 0.98 0.98 0.85 0.91 0.92
Adjusted for Deferred Taxes
Net sales (USD $ in millions) 31,657 30,109 30,274 31,821 30,871 29,904 29,611
Adjusted total assets (USD $ in millions) 37,476 32,484 32,208 29,936 32,688 33,876 31,616
Adjusted total asset turnover 0.84 0.93 0.94 1.06 0.94 0.88 0.94

Inventory Turnover ratio

3M Co., Inventory Turnover
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Selected Financial Data (USD $ in millions)
Cost of sales 16,001 15,040 15,343 16,447 16,106 15,685 15,693
Inventories 4,034 3,385 3,518 3,706 3,864 3,837 3,416
Ratio
Inventory turnover 3.97 4.44 4.36 4.44 4.17 4.09 4.59
Inventory turnover = Cost of sales ÷ Inventories
= 16,001 ÷ 4,034 = 3.97

Account Receivables Turnover

3M Co., Receivables Turnover
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Selected Financial Data (USD $ in millions)
Net sales 31,657 30,109 30,274 31,821 30,871 29,904 29,611
Accounts receivable, net of allowances 4,911 4,392 4,154 4,238 4,253 4,061 3,867
Ratio
Receivables turnover 6.45 6.86 7.29 7.51 7.26 7.36 7.66
Receivables turnover = Net sales ÷ Accounts receivable, net of allowances
= 31,657 ÷ 4,911 = 6.45