Supplemental Equity and Comprehensive Income Information

3 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

Supplemental Equity and Comprehensive Income Information

Supplemental Equity and Comprehensive Income Information

Cash dividends declared and paid totaled $1.49 and $1.48 per share for the first quarter of 2022 and 2021, respectively.

Consolidated Changes in Equity

Three months ended March 31, 2022

			3M Company Shareholders
(Millions)	Total		Common Stock and Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Non- controlling Interest
Balance at December 31, 2021	$	15,117	$	6,438	$	45,821	$	(30,463)	$	(6,750)	$	71
Net income	1,303				1,299						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(171)								(170)		(1)
Defined benefit pension and post-retirement plans adjustment	87								87
Cash flow hedging instruments	(1)								(1)
Total other comprehensive income (loss), net of tax	(85)
Dividends declared	(852)				(852)
Stock-based compensation	130		130
Reacquired stock	(773)						(773)
Issuances pursuant to stock option and benefit plans	164				(212)		376
Balance at March 31, 2022	$	15,004	$	6,568	$	46,056	$	(30,860)	$	(6,834)	$	74

Three months ended March 31, 2021

			3M Company Shareholders
(Millions)	Total		Common Stock and Additional Paid-in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Income (Loss)		Non- controlling Interest
Balance at December 31, 2020	$	12,931	$	6,171	$	43,821	$	(29,404)	$	(7,721)	$	64
Net income	1,627				1,624						3
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(222)								(223)		1
Defined benefit pension and post-retirement plans adjustment	119								119
Cash flow hedging instruments	58								58
Total other comprehensive income (loss), net of tax	(45)
Dividends declared	(858)				(858)
Stock-based compensation	121		121
Reacquired stock	(243)						(243)
Issuances pursuant to stock option and benefit plans	295				(332)		627
Balance at March 31, 2021	$	13,828	$	6,292	$	44,255	$	(29,020)	$	(7,767)	$	68

Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component

Three months ended March 31, 2022

(Millions)	Cumulative Translation Adjustment		Defined Benefit Pension and Postretirement Plans Adjustment		Cash Flow Hedging Instruments, Unrealized Gain (Loss)		Total Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021, net of tax:	$	(1,943)	$	(4,753)	$	(54)	$	(6,750)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(150)		—		6		(144)
Amounts reclassified out	—		115		(7)		108
Total other comprehensive income (loss), before tax	(150)		115		(1)		(36)
Tax effect	(20)		(28)		—		(48)
Total other comprehensive income (loss), net of tax	(170)		87		(1)		(84)
Balance at March 31, 2022, net of tax:	$	(2,113)	$	(4,666)	$	(55)	$	(6,834)

Three months ended March 31, 2021

(Millions)	Cumulative Translation Adjustment		Defined Benefit Pension and Postretirement Plans Adjustment		Cash Flow Hedging Instruments, Unrealized Gain (Loss)		Total Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2020, net of tax:	$	(1,450)	$	(6,098)	$	(173)	$	(7,721)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(176)		—		66		(110)
Amounts reclassified out	—		159		9		168
Total other comprehensive income (loss), before tax	(176)		159		75		58
Tax effect	(47)		(40)		(17)		(104)
Total other comprehensive income (loss), net of tax	(223)		119		58		(46)
Balance at March 31, 2021, net of tax:	$	(1,673)	$	(5,979)	$	(115)	$	(7,767)

Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation do include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are subsequently recorded as part of net income.

Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income				Location on Income Statement
	Three months ended March 31,
(Millions)	2022		2021
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	—	$	—	Other (expense) income, net
Prior service benefit	13		15		Other (expense) income, net
Net actuarial loss	(127)		(173)		Other (expense) income, net
Curtailments/Settlements	(1)		(1)		Other (expense) income, net
Total before tax	(115)		(159)
Tax effect	28		40		Provision for income taxes
Net of tax	(87)		(119)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	9		(7)		Cost of sales
Interest rate contracts	(2)		(2)		Interest expense
Total before tax	7		(9)
Tax effect	(2)		2		Provision for income taxes
Net of tax	5		(7)
Total reclassifications for the period, net of tax	$	(82)	$	(126)