1. Skip 2013 Inline XBRL vs. XBRL for Financial Reporting UWCISA Symposium on Information Integrity & IS Assurance - Toronto, Oct 3, 2013 - Clinton E. White, Jr (Skip) Lerner College of B&E University of Delaware skipw@udel.edu

2. Skip 2013 iXBRL vs. XBRL When you open an income statement with your browser, which would you prefer to see? When you open an income statement with your browser, which would you prefer to see?

3. Skip 2013 XBRL an XML vocabulary XBRL XBRL – XBRL is an XML vocabulary for business operations and financial reporting XML – the Extensible Markup Language XML – the Extensible Markup Language A set of rules & syntax for encoding documents in a format that is both computer and human-readable A set of rules & syntax for encoding documents in a format that is both computer and human-readable Simplicity … generality … usable over a network Simplicity … generality … usable over a network The default way to encode documents for software- to-software exchanges over networks and between applications (e.g., office productivity tools) The default way to encode documents for software- to-software exchanges over networks and between applications (e.g., office productivity tools)

4. Skip 2013 XBRL the original concept XBRL XBRL – Crate an XML vocabulary with which to encode financial information so that it is software-readable and can be exchanged and unambiguously interpreted and used by software or humans Without being bound to a presentation format Without being bound to a presentation format

5. Skip 2013 XBRL as implemented by the SEC Document format files: Document format files: – HTML format (including financials) – Official filings – Audited or reviewed Data files: Data files: – Financials in XBRL format – Supplemental filings – Not audited or reviewed Separate but presumed to be equal Separate but presumed to be equal

6. Skip 2013 XBRL at the SEC

7. Skip 2013 XBRL at the SEC Data files: Data files: – Each line item & disclosure tagged with a tag from the US GAAP taxonomy or the company’s extension taxonomy – – 29904000000 29904000000 US GAAP: http://xbrl.us/taxonomies/Pages/US-GAAP2013.aspx http://xbrl.us/taxonomies/Pages/US-GAAP2013.aspx

8. Skip 2013 XBRL at the SEC Document files: Document files: – HTML (presentation) format

9. Skip 2013 Document & Data Files Why are companies required to file both document and data files? Why are companies required to file both document and data files? – Document files The “original,” “official” file(s) The “original,” “official” file(s) Audited (or reviewed), legal document(s) Audited (or reviewed), legal document(s) – Data files The computer-processable file(s) The computer-processable file(s) Unaudited, reusable data, validateable Unaudited, reusable data, validateable

10. Skip 2013 XBRL at the SEC hybrid documents – Each line item & disclosure tagged with a tag from the US GAAP taxonomy or the company’s extension taxonomy – Each disclosure tagged and its contents formatted with HTML multiple times to appear exactly as it does on paper (Levels 1, 2, & 3 tagging) – Difficult to process and analyze – Difficult to compare to the official HTML documents Hybrid XBRL instance documents Hybrid XBRL instance documents

11. Skip 2013 Inline XBRL What if we embedded the XBRL formatted financial statement in a HTML document so that it renders in humanly-readable format – exactly as in paper form? What if we embedded the XBRL formatted financial statement in a HTML document so that it renders in humanly-readable format – exactly as in paper form? – And, we can extract an XBRL instance document when needed!

12. Skip 2013 iXBRL Inline XBRL 1.1 Inline XBRL 1.1 – Working draft: March 2013 – For embedding XBRL fragments into an HTML document (XBRL International) – When processed by an XML processor, it is rendered as a Web page instead of an XBRL document XBRL.org: http://www.xbrl.org/news/xbrl-international- seeks-feedback-inline-xbrl-11 http://www.xbrl.org/news/xbrl-international- seeks-feedback-inline-xbrl-11http://www.xbrl.org/news/xbrl-international- seeks-feedback-inline-xbrl-11

13. Skip 2013 3M Consolidated Income Statement (XBRL instance - 10-K 12/31/2012)

14. Skip 2013 3M Consolidated Income Statement (iXBRL)

15. Skip 2013 iXBRL iXBRL documents: iXBRL documents: – The “source” document is the “official” document An XML document with an HTML root element An XML document with an HTML root element – Actually, XHTML document Contains the XBRL tagged items formatted and in exactly the same order as when rendered Contains the XBRL tagged items formatted and in exactly the same order as when rendered Renders exactly as intended by the entity Renders exactly as intended by the entity The XBRL instance document is extractable from the “source” document The XBRL instance document is extractable from the “source” document – Referred to as a “target” document – It is usable by XBRL analysis software & is valedatable

16. Skip 2013 iXBRL One “source” document One “source” document – The XBRL is more transparent and easier to process for analysis purposes – Much easier to provide assurance that the XBRL is complete, consistent, & mapped & structured correctly – Much more user-friendly – No redundancy in disclosures

17. Skip 2013 3M Co’s Net sales revenue - iXBRL - <ix:nonFraction name="us-gaap:SalesRevenueNet" contextRef="FROM_Jan01_2012_TO_Dec31_2012" unitRef="USD" decimals="-3" format="ixt:numcommadot" id="ID-15" scale="3"> 29,904

18. Skip 2013 iXBRL Can take advantage of HTML5 & CSS3 Can take advantage of HTML5 & CSS3 – A semantic HTML – Incorporates much of XHTML – Includes new APIs for dynamic Web pages – CSS3: Supports namespaces Supports namespaces More powerful styling features More powerful styling features Reusable, maintainable code Reusable, maintainable code

19. Skip 2013 Current XBRL Level 1 disclosure <p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Arial;font-size:10pt;font- style:italic;margin-left:0px;"> Consolidation: </font ><font style="font-family:Arial;font-size:10pt;"> 3M is a diversified global manufacturer, technology innovator and marketer of a wide variety of products. All subsidiaries are consolidated. All significant intercompany transactions are eliminated. As used herein, the term &#8220; 3M &#8221; or &#8220; Company &#8221; refers to 3M Company and subsidiaries unless the context indicates otherwise. </font></p>

20. Skip 2013 iXBRL Level 1 disclosure Con solidation: 3M is a diversified global manufacturer, technology innovator and marketer of a wide variety of products. All subsidiaries are consolidated. All significant intercompany transactions are eliminated. As used herein, the term "3M" or " Company" refers to 3M Company and subsidiaries unless the context indicates otherwise.

21. Skip 2013 3M iXBRL: root, head & ix:header

22. Skip 2013 3M iXBRL: head & ix:hidden

23. Skip 2013 3M iXBRL: root, head & ix:header

24. Skip 2013 Resources www.skipwhite.com www.skipwhite.com www.skipwhite.com – The Accountant’s Guide to XBRL – The Guide & Workbook for Understanding XBRL http://sixrevisions.com/web-standards/ http://sixrevisions.com/web-standards/ http://sixrevisions.com/web-standards/ – Saqib – “20 HTML Best Practices …” www.w3schools.com/ www.w3schools.com/ www.w3schools.com/ – HTML5 … CSS3 – “HTML5 Definition Complete …” www.xbrl.org www.xbrl.org www.xbrl.org – “Inline XBRL Part 1: Specification …”