Supplemental Equity and Comprehensive Income Information

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Supplemental Equity and Comprehensive Income Information

Supplemental Equity and Comprehensive Income InformationCash dividends declared and paid totaled $1.49 and $1.48 per share for the first, second, and third quarters of 2022 and 2021, respectively, or $4.47 and $4.44 per share for the first nine months of 2022 and 2021, respectively.

Consolidated Changes in Equity

Three months ended September 30, 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 June 30, 2022	$	13,816	$	6,616	$	45,269	$	(30,781)	$	(7,362)	$	74
Net income	3,863				3,859						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(821)								(819)		(2)
Defined benefit pension and post-retirement plans adjustment	86								86
Cash flow hedging instruments	110								110
Total other comprehensive income (loss), net of tax	(625)
Dividends declared	(850)				(850)
Stock-based compensation	47		47
Reacquired stock	(191)						(191)
Split-off of Food Safety business	(1,988)						(1,988)
Issuances pursuant to stock option and benefit plans	84				(33)		117
Balance at September 30, 2022	$	14,156	$	6,663	$	48,245	$	(32,843)	$	(7,985)	$	76

Nine months ended September 30, 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	5,248				5,236						12
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(1,697)								(1,690)		(7)
Defined benefit pension and post-retirement plans adjustment	258								258
Cash flow hedging instruments	197								197
Total other comprehensive income (loss), net of tax	(1,242)
Dividends declared	(2,550)				(2,550)
Stock-based compensation	225		225
Reacquired stock	(964)						(964)
Split-off of Food Safety business	(1,988)						(1,988)
Issuances pursuant to stock option and benefit plans	310				(262)		572
Balance at September 30, 2022	$	14,156	$	6,663	$	48,245	$	(32,843)	$	(7,985)	$	76

Three months ended September 30, 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 June 30, 2021	$	14,516	$	6,346	$	44,824	$	(29,236)	$	(7,486)	$	68
Net income	1,437				1,434						3
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(302)								(301)		(1)
Defined benefit pension and post-retirement plans adjustment	119								119
Cash flow hedging instruments	48								48
Total other comprehensive income (loss), net of tax	(135)
Dividends declared	(856)				(856)
Stock-based compensation	46		46
Reacquired stock	(563)						(563)
Issuances pursuant to stock option and benefit plans	85				(41)		126
Balance at September 30, 2021	$	14,530	$	6,392	$	45,361	$	(29,673)	$	(7,620)	$	70

Nine months ended September 30, 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	4,589				4,582						7
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(354)								(353)		(1)
Defined benefit pension and post-retirement plans adjustment	359								359
Cash flow hedging instruments	95								95
Total other comprehensive income (loss), net of tax	100
Dividends declared	(2,572)				(2,572)
Stock-based compensation	221		221
Reacquired stock	(1,305)						(1,305)
Issuances pursuant to stock option and benefit plans	566				(470)		1,036
Balance at September 30, 2021	$	14,530	$	6,392	$	45,361	$	(29,673)	$	(7,620)	$	70

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

Three months ended September 30, 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 June 30, 2022, net of tax:	$	(2,814)	$	(4,581)	$	33	$	(7,362)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(773)		—		173		(600)
Amounts reclassified out	—		112		(30)		82
Total other comprehensive income (loss), before tax	(773)		112		143		(518)
Tax effect	(46)		(26)		(33)		(105)
Total other comprehensive income (loss), net of tax	(819)		86		110		(623)
Balance at September 30, 2022, net of tax:	$	(3,633)	$	(4,495)	$	143	$	(7,985)

Nine months ended September 30, 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	(1,587)		—		307		(1,280)
Amounts reclassified out	—		339		(52)		287
Total other comprehensive income (loss), before tax	(1,587)		339		255		(993)
Tax effect	(103)		(81)		(58)		(242)
Total other comprehensive income (loss), net of tax	(1,690)		258		197		(1,235)
Balance at September 30, 2022, net of tax:	$	(3,633)	$	(4,495)	$	143	$	(7,985)

Three months ended September 30, 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 June 30, 2021, net of tax:	$	(1,502)	$	(5,858)	$	(126)	$	(7,486)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(286)		—		44		(242)
Amounts reclassified out	—		158		18		176
Total other comprehensive income (loss), before tax	(286)		158		62		(66)
Tax effect	(15)		(39)		(14)		(68)
Total other comprehensive income (loss), net of tax	(301)		119		48		(134)
Balance at September 30, 2021, net of tax:	$	(1,803)	$	(5,739)	$	(78)	$	(7,620)

Nine months ended September 30, 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	(303)		—		84		(219)
Amounts reclassified out	—		477		39		516
Total other comprehensive income (loss), before tax	(303)		477		123		297
Tax effect	(50)		(118)		(28)		(196)
Total other comprehensive income (loss), net of tax	(353)		359		95		101
Balance at September 30, 2021, net of tax:	$	(1,803)	$	(5,739)	$	(78)	$	(7,620)

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 September 30,				Nine months ended September 30,
(Millions)	2022		2021		2022	2021
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	—	$	(1)	(1)	$	(2)	Other (expense) income, net
Prior service benefit	14		15		42	45		Other (expense) income, net
Net actuarial loss	(126)		(172)		(378)	(518)		Other (expense) income, net
Curtailments/Settlements	—		—		(2)	(2)		Other (expense) income, net
Total before tax	(112)		(158)		(339)	(477)
Tax effect	26		39		81	118		Provision for income taxes
Net of tax	(86)		(119)		(258)	(359)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	33		(15)		59	(32)		Cost of sales
Interest rate contracts	(3)		(3)		(7)	(7)		Interest expense
Total before tax	30		(18)		52	(39)
Tax effect	(7)		4		(12)	9		Provision for income taxes
Net of tax	23		(14)		40	(30)
Total reclassifications for the period, net of tax	$	(63)	$	(133)	(218)	$	(389)