3m 2019s cash and cash equivalents balance at december 31 , 2007 totaled $ 1.896 billion , with an additional $ 1.059 billion in current and long-term marketable securities .
3m 2019s strong balance sheet and liquidity provide the company with significant flexibility to take advantage of numerous opportunities going forward .
the company will continue to invest in its operations to drive growth , including continual review of acquisition opportunities .
as previously discussed , 3m expects to complete the acquisition of aearo holding corp .
for approximately $ 1.2 billion in 2008 .
3m paid dividends of $ 1.380 billion in 2007 , and has a long history of dividend increases .
in february 2008 , the board of directors increased the quarterly dividend on 3m common stock by 4.2% ( 4.2 % ) to 50 cents per share , equivalent to an annual dividend of $ 2.00 per share .
in february 2007 , 3m 2019s board of directors authorized a two-year share repurchase of up to $ 7.0 billion for the period from february 12 , 2007 to february 28 , 2009 .
at december 31 , 2007 , the company has $ 4.1 billion remaining under this authorization , which the company does not currently expect to fully utilize by february 28 , 2009 .
in 2008 , the company expects to contribute an amount in the range of $ 100 million to $ 400 million to its u.s .
and international pension plans .
the company does not have a required minimum pension contribution obligation for its u.s .
plans in 2008 .
therefore , the amount of the anticipated discretionary contribution could vary significantly depending on the u.s.-plans funding status as of the 2008 measurement date and the anticipated tax deductibility of the contribution .
future contributions will also depend on market conditions , interest rates and other factors .
3m believes its strong cash flow and balance sheet will allow it to fund future pension needs without compromising growth opportunities .
the company uses various working capital measures that place emphasis and focus on certain working capital assets and liabilities .
these measures are not defined under u.s .
generally accepted accounting principles and may not be computed the same as similarly titled measures used by other companies .
one of the primary working capital measures 3m uses is a combined index , which includes accounts receivable , inventory and accounts payable .
this combined index ( defined as quarterly net sales 2013 fourth quarter at year-end 2013 multiplied by four , divided by ending net accounts receivable plus inventory less accounts payable ) was 5.3 at december 31 , 2007 , down from 5.4 at december 31 , 2006 .
receivables increased $ 260 million , or 8.4% ( 8.4 % ) , compared with december 31 , 2006 .
currency translation increased accounts receivable by $ 159 million year-on-year , as the u.s .
dollar weakened in aggregate against a multitude of currencies .
inventories increased $ 251 million , or 9.7% ( 9.7 % ) , compared with december 31 , 2006 .
currency translation increased inventories by $ 132 million year-on-year .
accounts payable increased $ 103 million compared with december 31 , 2006 , with $ 65 million of this year-on-year increase related to currency translation .
cash flows from operating , investing and financing activities are provided in the tables that follow .
individual amounts in the consolidated statement of cash flows exclude the effects of acquisitions , divestitures and exchange rate impacts , which are presented separately in the cash flows .
thus , the amounts presented in the following operating , investing and financing activities tables reflect changes in balances from period to period adjusted for these effects .
cash flows from operating activities : years ended december 31 .

( millions )
2007
2006
2005
net income
$ 4096
$ 3851
$ 3111
depreciation and amortization
1072
1079
986
company pension contributions
-376 ( 376 )
-348 ( 348 )
-654 ( 654 )
company postretirement contributions
-3 ( 3 )
-37 ( 37 )
-134 ( 134 )
company pension expense
190
347
331
company postretirement expense
65
93
106
stock-based compensation expense
228
200
155
gain from sale of businesses
-849 ( 849 )
-1074 ( 1074 )
2014
income taxes ( deferred and accrued income taxes )
-34 ( 34 )
-178 ( 178 )
402
excess tax benefits from stock-based compensation
-74 ( 74 )
-60 ( 60 )
-54 ( 54 )
accounts receivable
-35 ( 35 )
-103 ( 103 )
-184 ( 184 )
inventories
-54 ( 54 )
-309 ( 309 )
-294 ( 294 )
accounts payable
-4 ( 4 )
68
113
product and other insurance receivables and claims
158
58
122
other 2014 net
-105 ( 105 )
252
198
net cash provided by operating activities
$ 4275
$ 3839
$ 4204

.

Question: what was the percentage change in the net income
Answer: 6.4%