capital projects that contribute to current or future operations generally are capitalized and depreciated over their estimated useful lives.
Income taxes: The provision for income taxes is determined using the asset and liability approach.
Under this approach, deferred income taxes represent the expected future tax consequences of temporary differences between the carrying amounts and tax basis of assets and liabilities.
The Company records a valuation allowance to reduce its deferred tax assets when uncertainty regarding their reliability exists.
As of December 31, 2007, no significant valuation allowances were recorded.
Earnings per share: The difference in the weighted average shares outstanding for calculating basic and diluted earnings per share is attributable to the dilution associated with the Company’s stock-based compensation plans.
Certain Management Stock Ownership Program average options outstanding during the years 2007, 2006 and 2005 were not included in the computation of diluted earnings per share because they would not have had a dilutive effect (21.6 million average options for 2007, 31.5 million average options for 2006, and 15.4 million average options for 2005).
As discussed in Note 10, the conditions for conversion related to the Company’s Convertible Notes have never been met.
If the conditions for conversion are met, 3M may choose to pay in cash and/or common stock; however, if this occurs, the Company has the intent and ability to settle this debt security in cash.
Accordingly, there was no impact on 3M’s diluted earnings per share.
The computations for basic and diluted earnings per share for the years ended December 31 follow:
## Table 0 ##
Stock-based compensation: In December 2004, the Financial Accounting Standards Board (FASB) issued SFAS No.123 (revised 2004).
SFAS No.123R supersedes APB Opinion No.25.
Under APB Opinion No.25, no compensation expense is recognized for employee stock option grants if the exercise price of the Company’s stock option grants is at or above the fair market value of the underlying stock on the date of grant.
Under SFAS No.123R, compensation expense is recognized for both the General Employees’ Stock Purchase Plan (GESPP) and the Management Stock Ownership Plan (MSOP).
SFAS No.123R requires the determination of the fair value of the share-based compensation at the grant date and the recognition of the related expense over the period in which the share-based compensation vests.
The Company adopted SFAS No.123R effective January 1, 2006.
The Company adopted SFAS No.123R using the modified retrospective method.
All prior periods have been restated to give effect to the fair-valuebased method of accounting for awards granted in fiscal years beginning on or after January 1, 1995.
The Company believes that the modified retrospective application of this standard achieves the highest level of clarity and comparability among the presented periods.
On November 10, 2005, the FASB issued FASB Staff Position No.
FAS 123(R)-3, Transition Election Related to Accounting for the Tax Effects of Share-Based Payment Awards (the FSP).
The FSP provides that companies may elect to use a specified "short-cut" method to calculate the historical pool of windfall tax benefits upon adoption of SFAS No.123R.
The Company elected to use the “short-cut” method when it adopted SFAS No.123R on January 1, 2006.
Refer to Note 15 for additional information.
Comprehensive income: Total comprehensive income and the components of accumulated other comprehensive income (loss) are presented in the Consolidated Statement of Changes in Stockholders’ Equity and Comprehensive Income.
Accumulated other comprehensive income (loss) is composed of foreign currency translation effects (including hedges of net investments in international companies), defined benefit pension plan adjustments, unrealized gains and losses on available-for-sale debt and equity securities, and unrealized gains and losses on cash flow hedging instruments.
Business Segment Products
## Table 1 ##
Business Segment Information
## Table 2 ##
Assets
## Table 3 ##
Corporate and unallocated operating income includes a variety of miscellaneous items, such as corporate investment gains and losses, certain derivative gains and losses, certain insurance-related gains and losses, certain litigation and environmental expenses, corporate restructuring charges and certain under- or over-absorbed costs (e. g.  pension, stockbased compensation) that the Company may choose not to allocate directly to its business segments.
Because this category includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis.3M business segment reporting measures include dual credit to business segments for certain U. S.  sales and related operating income.
Management evaluates each of its five operating business segments based on net sales and operating income performance, including dual credit U. S.  reporting to further incentivize U. S.  sales growth.
As a result, 3M provides additional (“dual”) credit to those business segments selling products in the U. S.  to an external customer when that segment is not the primary seller of the product.
For example, certain respirators are primarily sold by the Personal Safety Division within the Safety and Graphics business segment; however, the Industrial business segment also sells this product to certain customers in its U. S.  markets.
In this example, the non-primary selling segment (Industrial) would also
United States at 4.2 percent.
Organic local-currency sales increased in Asia Pacific by 0.1 percent and declined in EMEA by 0.6 percent.
For 2012, international operations represented 64.7 percent of 3M’s sales.
Geographic Area Supplemental Information
## Table 4 ##
Employment: Employment increased by 990 positions in 2013 and 3,479 positions in 2012.
Acquisitions increased employment by approximately 2,500 full-time equivalents for 2012.
In addition, the other primary factor that increased employment in both years was additions in developing economies to support growth.
Capital Spending/Net Property, Plant and Equipment: Investments in property, plant and equipment enable growth across many diverse markets, helping to meet product demand and increasing manufacturing efficiency.
Capital spending was $1.665 billion in 2013, compared to $1.484 billion in 2012 and $1.379 billion in 2011.
The Company expects 2014 capital spending to be approximately $1.7 billion to $1.8 billion, as 3M continues to invest in its businesses.
In 2013, 3M continued its expansion of manufacturing capacity in key growth markets, including investments in the U. S. , China, Germany, and Brazil.
This included significant investments across 3M’s many businesses, such as abrasives, industrial adhesives and tapes, advanced materials, electronicsrelated, infection prevention, and other businesses.3M continued its investments in IT systems and infrastructure, including ongoing phased implementation of an ERP system on a worldwide basis over the next several years.
In addition, 3M is sustaining existing facilities through general maintenance, cost reduction, and compliance efforts.
In 2012, 3M expanded manufacturing capacity in key growth markets, particularly with respect to international and emerging market countries.
This included investments in China, Turkey and Poland, in addition to investments in Singapore and the U. S.  3M also increased investments in IT systems and infrastructure and made strategic investments in research/development infrastructure and manufacturing sites to lay the foundation for future growth.
In 2011, a large portion of the capital investment was used to address supply constraints in a number of businesses with significant growth potential, such as renewable energy, traffic signage in developing economies, and optically clear adhesives and glass bubbles.
In addition, certain 2010 capital projects carried forward into 2011.3M is striving to increase its manufacturing and sourcing capacity in developing economies in order to more closely align its production capability with its sales in major geographic regions.
The initiative is expected to help improve customer service, lower transportation costs, and reduce working capital requirements.3M will continue to make investments in critical emerging markets, such as China, Brazil, Poland and India, including plans to establish and begin production in a new wholly-owned manufacturing entity in India to serve as a source of supply to 3M's business in India and in other countries.
CRITICAL ACCOUNTING ESTIMATES Information regarding significant accounting policies is included in Note 1.
As stated in Note 1, the preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities.
Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.
Actual results may differ from these estimates.
The Company believes its most critical accounting estimates relate to legal proceedings, the Company’s pension and postretirement obligations, asset impairments and income taxes.
Senior management has discussed the development, selection and disclosure of its critical accounting estimates with the Audit Committee of 3M’s Board of Directors.
respectively.
The federal tax attribute carryovers will expire after 16 to 17 years, the state after five to 10 years, and the majority of international after six years with the remaining international expiring in one year or with an indefinite carryover period.
The tax attributes being carried over arise as certain jurisdictions may have tax losses or may have inabilities to utilize certain losses without the same type of taxable income.
As of December 31, 2013, the Company has provided $23 million of valuation allowance against certain of these deferred tax assets based on management's determination that it is more-likely-than-not that the tax benefits related to these assets will not be realized.
The valuation allowance was reduced in 2013 mainly due to the expiration of the tax attributes.
During 2013, the Company contributed $476 million to its U. S.  and international pension plans and $6 million to its postretirement plans.
During 2012, the Company contributed $1.079 billion to its U. S.  and international pension plans and $67 million to its postretirement plans.
During 2011, the Company contributed $517 million to its U. S.  and international pension plans and $65 million to its postretirement plans.
The current income tax provision includes a benefit for the pension contributions; the deferred tax provision includes a cost for the related temporary difference.
Reconciliation of Effective Income Tax Rate
## Table 5 ##
The effective tax rate for 2013 was 28.1 percent, compared to 29.0 percent in 2012, a decrease of 0.9 percentage points, impacted by many factors.
Factors that decreased the Company’s effective tax rate included international taxes as a result of changes to the geographic mix of income before taxes, the reinstatement of the U. S.  research and development credit in 2013, an increase in the domestic manufacturer’s deduction benefit, the restoration of tax basis on certain assets for which depreciation deductions were previously limited, and other items.
Combined, these factors decreased the Company’s effective tax rate by 4.0 percentage points.
This benefit was partially offset by factors that increased the effective tax rate by 3.1 percentage points, which largely related to adjustments to 3M’s income tax reserves for 2013 when compared to 2012.
The effective tax rate for 2012 was 29.0 percent, compared to 27.8 percent in 2011, an increase of 1.2 percentage points, impacted by many factors.
The primary factors that increased the Company’s effective tax rate year-on-year include international taxes, specifically with respect to the corporate reorganization of a wholly owned international subsidiary (which benefited 2011), state income taxes, lower domestic manufacturer’s deduction, and the lapse of the U. S.  research and development credit.
These and other factors, when compared to 2011, increased the 2012 effective tax rate by 2.1 percentage points.
Factors that decreased the Company’s effective tax rate year-on-year include international taxes as a result of changes to the geographic mix of income before taxes and adjustments to its income tax reserves.
These factors, when compared to 2011, decreased the effective tax rate 0.9 percentage points.
The Company files income tax returns in the U. S.  federal jurisdiction, and various states and foreign jurisdictions.
With few exceptions, the Company is no longer subject to U. S.  federal, state and local, or non-U.
S.  income tax examinations by tax authorities for years before 2004.
The IRS completed its field examination of the Company’s U. S.  federal income tax returns for the years 2005 through 2007 in the fourth quarter of 2009.
The Company protested certain IRS positions within these tax years and entered into the administrative appeals process with the IRS during the first quarter of 2010.
During the first quarter of 2010, the IRS completed its field examination of the Company’s U. S.  federal income tax return for the 2008 year.
The Company protested certain IRS positions for 2008 and entered into the administrative appeals process with the IRS during the second quarter of 2010.
During the first quarter of 2011, the IRS completed its field examination of the Company’s U. S.  federal income tax return for the 2009 year.
The Company protested certain IRS positions for 2009 and entered into the administrative appeals process with the IRS during the second quarter of 2011.
During the first quarter of 2012, the IRS completed its field examination of the Company’s U. S.  federal income tax return for the 2010 year.
The Company protested certain IRS positions for 2010 and entered into the administrative appeals process with the IRS during the

<table><tr><td> (Amounts in millions, except per share amounts)</td><td> 2007</td><td> 2006</td><td> 2005</td></tr><tr><td>Numerator:</td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>$4,096</td><td>$3,851</td><td>$3,111</td></tr><tr><td>Denominator:</td><td></td><td></td><td></td></tr><tr><td>Denominator for weighted average commonshares outstanding — basic</td><td> 718.3</td><td>747.5</td><td>764.9</td></tr><tr><td>Dilution associated with the Company’s stock-based compensation plans</td><td> 13.7</td><td>13.5</td><td>16.4</td></tr><tr><td>Denominator for weighted average common shares outstanding — diluted</td><td> 732.0</td><td>761.0</td><td>781.3</td></tr><tr><td>Earnings per share — basic</td><td>$5.70</td><td>$5.15</td><td>$4.07</td></tr><tr><td>Earnings per share — diluted</td><td>$5.60</td><td>$5.06</td><td>$3.98</td></tr></table>
<table><tr><td> Business Segment</td><td> Major Products</td></tr><tr><td>Industrial</td><td>Tapes, coated, nonwoven and bonded abrasives, adhesives, advanced ceramics, sealants, specialty materials, 3M Purification Inc. (filtration products), closure systems for personal hygiene products, acoustic systems products, automotive components, abrasion-resistant films, structural adhesives and paint finishing and detailing products</td></tr><tr><td>Safety and Graphics</td><td>Personal protection products, traffic safety and security products, commercial graphics systems, commercial cleaning and protection products, floor matting, and roofing granules for asphalt shingles</td></tr><tr><td>Electronics and Energy</td><td>Optical films solutions for electronic displays, packaging and interconnection devices, insulating and splicing solutions for the electronics, telecommunications and electrical industries, touch screens and touch monitors, renewable energy component solutions, and infrastructure protection products</td></tr><tr><td>Health Care</td><td>Medical and surgical supplies, skin health and infection prevention products, drug delivery systems, dental and orthodontic products, health information systems and food safety products</td></tr><tr><td>Consumer</td><td>Sponges, scouring pads, high-performance cloths, consumer and office tapes, repositionable notes, indexing systems, construction and home improvement products, home care products, protective material products, and consumer and office tapes and adhesives</td></tr></table>
<table><tr><td> </td><td colspan="3">Net Sales</td><td colspan="3">Operating Income</td></tr><tr><td> (Millions)</td><td>2013</td><td>2012</td><td>2011</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>Industrial</td><td>$10,584</td><td>$9,943</td><td>$9,629</td><td>$2,296</td><td>$2,236</td><td>$1,983</td></tr><tr><td>Safety and Graphics</td><td>5,657</td><td>5,471</td><td>5,458</td><td>1,239</td><td>1,217</td><td>1,237</td></tr><tr><td>Electronics and Energy</td><td>5,393</td><td>5,458</td><td>5,732</td><td>954</td><td>1,026</td><td>1,140</td></tr><tr><td>Health Care</td><td>5,334</td><td>5,138</td><td>5,011</td><td>1,672</td><td>1,641</td><td>1,484</td></tr><tr><td>Consumer</td><td>4,435</td><td>4,386</td><td>4,230</td><td>945</td><td>943</td><td>855</td></tr><tr><td>Corporate and Unallocated</td><td>8</td><td>4</td><td>9</td><td>-322</td><td>-471</td><td>-420</td></tr><tr><td>Elimination of Dual Credit</td><td>-540</td><td>-496</td><td>-458</td><td>-118</td><td>-109</td><td>-101</td></tr><tr><td>Total Company</td><td>$30,871</td><td>$29,904</td><td>$29,611</td><td>$6,666</td><td>$6,483</td><td>$6,178</td></tr></table>
<table><tr><td> </td><td colspan="3"> Assets</td><td colspan="3"> Depreciation & Amortization</td><td colspan="3"> Capital Expenditures</td></tr><tr><td> (Millions)</td><td> 2013</td><td> 2012</td><td> 2011</td><td> 2013</td><td> 2012</td><td> 2011</td><td> 2013</td><td> 2012</td><td> 2011</td></tr><tr><td>Industrial</td><td>$8,803</td><td>$8,587</td><td>$7,553</td><td>$372</td><td>$323</td><td>$337</td><td>$510</td><td>$415</td><td>$383</td></tr><tr><td>Safety and Graphics</td><td> 5,153</td><td>5,111</td><td>4,975</td><td> 256</td><td>238</td><td>251</td><td> 209</td><td>190</td><td>204</td></tr><tr><td>Electronics and Energy</td><td> 5,336</td><td>5,512</td><td>5,296</td><td> 260</td><td>266</td><td>255</td><td> 261</td><td>350</td><td>274</td></tr><tr><td>Health Care</td><td> 4,329</td><td>4,296</td><td>4,190</td><td> 171</td><td>169</td><td>199</td><td> 120</td><td>113</td><td>159</td></tr><tr><td>Consumer</td><td> 2,516</td><td>2,445</td><td>2,423</td><td> 106</td><td>110</td><td>102</td><td> 128</td><td>105</td><td>98</td></tr><tr><td>Corporate and Unallocated</td><td> 7,413</td><td>7,925</td><td>7,179</td><td> 206</td><td>182</td><td>92</td><td> 437</td><td>311</td><td>261</td></tr><tr><td>Total Company</td><td>$33,550</td><td>$33,876</td><td>$31,616</td><td>$1,371</td><td>$1,288</td><td>$1,236</td><td>$1,665</td><td>$1,484</td><td>$1,379</td></tr></table>
<table><tr><td> </td><td colspan="3"> Employees as of December 31,</td><td colspan="3"> Capital Spending</td><td colspan="2"> Property, Plant and Equipment - net as of December 31,</td></tr><tr><td> (Millions, except Employees)</td><td> 2013</td><td> 2012</td><td> 2011</td><td> 2013</td><td> 2012</td><td> 2011</td><td> 2013</td><td> 2012</td></tr><tr><td>United States</td><td> 34,719</td><td>34,851</td><td>33,246</td><td>$941</td><td>$816</td><td>$688</td><td>$4,478</td><td>$4,279</td></tr><tr><td>Asia Pacific</td><td> 18,417</td><td>18,210</td><td>18,015</td><td> 284</td><td>332</td><td>409</td><td> 1,943</td><td>2,029</td></tr><tr><td>Europe, Middle East and Africa</td><td> 20,504</td><td>20,638</td><td>20,113</td><td> 290</td><td>226</td><td>180</td><td> 1,636</td><td>1,499</td></tr><tr><td>Latin America and Canada</td><td> 15,027</td><td>13,978</td><td>12,824</td><td> 150</td><td>110</td><td>102</td><td> 595</td><td>571</td></tr><tr><td>Total Company</td><td> 88,667</td><td>87,677</td><td>84,198</td><td>$1,665</td><td>$1,484</td><td>$1,379</td><td>$8,652</td><td>$8,378</td></tr></table>
<table><tr><td></td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>Statutory U.S. tax rate</td><td>35.0%</td><td>35.0%</td><td>35.0%</td></tr><tr><td>State income taxes - net of federal benefit</td><td>0.9</td><td>0.9</td><td>0.7</td></tr><tr><td>International income taxes - net</td><td>-6.3</td><td>-4.2</td><td>-4.6</td></tr><tr><td>U.S. research and development credit</td><td>-0.7</td><td>—</td><td>-0.5</td></tr><tr><td>Reserves for tax contingencies</td><td>1.2</td><td>-1.9</td><td>-1.2</td></tr><tr><td>Domestic Manufacturer’s deduction</td><td>-1.6</td><td>-1.2</td><td>-1.5</td></tr><tr><td>All other - net</td><td>-0.4</td><td>0.4</td><td>-0.1</td></tr><tr><td>Effective worldwide tax rate</td><td>28.1%</td><td>29.0%</td><td>27.8%</td></tr></table>

Question: what was the ratio of the company contribution in 2011 to the amount in 2013 to the us pension contributions
Answer: 1.08613