Supplemental Equity and Comprehensive Income Information

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Supplemental Equity and Comprehensive Income Information

Supplemental Equity and Comprehensive Income Information

Common stock ($.01 par value per share) of 3 billion shares is authorized, with 944,033,056 shares issued as of December 31, 2021, 2020 and 2019. Preferred stock, without par value, of 10 million shares is authorized but unissued.

Cash dividends declared and paid totaled $1.48, $1.47, and $1.44 per share for each quarter in 2021, 2020 and 2019, respectively, which resulted in total year declared and paid dividends of $5.92, $5.88, and $5.76 per share, respectively.

In connection with 3M’s January 1, 2019 adoption of ASU No. 2018-2, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, and ASU No. 2016-2, Leases, the Company recorded an increase in retained earnings of approximately $0.9 billion (with offsetting increase to accumulated other comprehensive loss for the same amount) and $14 million, respectively.

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

(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, 2018, net of tax:	$	(2,098)	$	(4,880)	$	64	$	(6,914)
Impact of Adoption of ASU No. 2018-02	(13)		(817)		(23)		(853)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	102		(1,205)		(26)		(1,129)
Amounts reclassified out	142		505		(70)		577
Total other comprehensive income (loss), before tax	244		(700)		(96)		(552)
Tax effect	(32)		193		24		185
Total other comprehensive income (loss), net of tax	212		(507)		(72)		(367)
Balance at December 31, 2019, net of tax:	(1,899)		(6,204)		(31)		(8,134)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	387		(582)		(113)		(308)
Amounts reclassified out	—		619		(71)		548
Total other comprehensive income (loss), before tax	387		37		(184)		240
Tax effect	62		69		42		173
Total other comprehensive income (loss), net of tax	449		106		(142)		413
Balance at December 31, 2020, net of tax:	$	(1,450)	$	(6,098)	$	(173)	$	(7,721)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(428)		1,223		108		903
Amounts reclassified out	—		658		47		705
Total other comprehensive income (loss), before tax	(428)		1,881		155		1,608
Tax effect	(65)		(536)		(36)		(637)
Total other comprehensive income (loss), net of tax	(493)		1,345		119		971
Balance at December 31, 2021, net of tax:	$	(1,943)	$	(4,753)	$	(54)	$	(6,750)

Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation does 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 (Millions)	Amounts Reclassified from Accumulated Other Comprehensive Income						Location on Income Statement
	Year ended December 31,
	2021		2020		2019
Cumulative translation adjustment
Deconsolidation of Venezuelan subsidiary	$	—	$	—	$	(142)	Other (expense) income, net
Total before tax	—		—		(142)
Tax effect	—		—		—		Provision for income taxes
Net of tax	—		—		(142)
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	(2)		(2)		—		Other (expense) income, net
Prior service benefit	60		62		69		Other (expense) income, net
Net actuarial loss	(689)		(659)		(524)		Other (expense) income, net
Curtailments/Settlements	(27)		(20)		(48)		Other (expense) income, net
Deconsolidation of Venezuelan subsidiary	—		—		(2)		Other (expense) income, net
Total before tax	(658)		(619)		(505)
Tax effect	160		148		121		Provision for income taxes
Net of tax	(498)		(471)		(384)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	(38)		80		74		Cost of sales
Interest rate contracts	(9)		(9)		(4)		Interest expense
Total before tax	(47)		71		70
Tax effect	11		(17)		(17)		Provision for income taxes
Net of tax	(36)		54		53
Total reclassifications for the period, net of tax	$	(534)	$	(417)	$	(473)