Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Impact on previously reported values after correction

The adoption of this change impacted previously reported amounts included herein as indicated in the tables below.

Consolidated Statement of Income
	Three months ended September 30, 2020				Nine months ended September 30, 2020
(Millions, except per share amounts)	Under Prior Method		As Adjusted		Under Prior Method		As Adjusted
Other expense (income), net	$	104	$	83	$	311	$	248
Income before income taxes	1,805		1,826		5,001		5,064
Provision for income taxes	387		391		1,002		1,016
Income of consolidated group	1,418		1,435		3,999		4,048
Net income including noncontrolling interest	1,417		1,434		3,998		4,047
Net income attributable to 3M	1,413		1,430		3,995		4,044
Earnings per share attributable to 3M common shareholders — basic	$	2.45	$	2.47	$	6.92	$	7.01
Earnings per share attributable to 3M common shareholders — diluted	$	2.43	$	2.45	$	6.87	$	6.95

Consolidated Statement of Comprehensive Income
	Three months ended September 30, 2020				Nine months ended September 30, 2020
(Millions)	Under Prior Method		As Adjusted		Under Prior Method		As Adjusted
Net income including noncontrolling interest	$	1,417	$	1,434	$	3,998	$	4,047
Other comprehensive income (loss), net of tax:
Defined benefit pension and postretirement plans adjustment	127		116		304		271
Total other comprehensive income (loss), net of tax	327		316		177		144
Comprehensive income (loss) including noncontrolling interest	1,744		1,750		4,175		4,191
Comprehensive income (loss) attributable to 3M	1,739		1,745		4,174		4,190

Consolidated Balance Sheet
	As of December 31, 2020
(Millions)	Under Prior Method		As Adjusted
Retained earnings	$	43,761	$	43,821
Accumulated other comprehensive income (loss)	(7,661)		(7,721)

Consolidated Statement of Cash Flows
	Nine months ended September 30, 2020
(Millions)	Under Prior Method		As Adjusted
Net income including noncontrolling interest	$	3,998	$	4,047
Company pension and postretirement expense	295		232
Other — net	(10)		4

Earnings per share computations

The computations for basic and diluted earnings per share follow:

Earnings Per Share Computations

	Three months ended September 30,				Nine months ended September 30,
(Amounts in millions, except per share amounts)	2021		2020		2021		2020
Numerator:
Net income attributable to 3M	$	1,434	$	1,430	$	4,582	$	4,044
Denominator:
Denominator for weighted average 3M common shares outstanding – basic	579.6		577.8		580.3		577.2
Dilution associated with the Company’s stock-based compensation plans	6.7		4.6		6.8		4.4
Denominator for weighted average 3M common shares outstanding – diluted	586.3		582.4		587.1		581.6
Earnings per share attributable to 3M common shareholders – basic	$	2.47	$	2.47	$	7.90	$	7.01
Earnings per share attributable to 3M common shareholders – diluted	$	2.45	$	2.45	$	7.81	$	6.95