Supplemental Equity and Comprehensive Income (Loss) Information

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Supplemental Equity and Comprehensive Income (Loss) Information

Supplemental Equity and Comprehensive Income (Loss) InformationCash dividends declared and paid totaled $1.50 and $1.49 per share for the first and second quarters of 2023 and 2022, respectively, or $3.00 and $2.98 per share for the first six months of 2023 and 2022, respectively.

Consolidated Changes in Equity

Three months ended June 30, 2023

			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 March 31, 2023	$	15,351	$	6,825	$	47,966	$	(32,963)	$	(6,530)	$	53
Net income (loss)	(6,836)				(6,841)						5
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	25								24		1
Defined benefit pension and post-retirement plans adjustment	50								50
Cash flow hedging instruments	23								23
Total other comprehensive income (loss), net of tax	98
Dividends declared	(828)				(828)
Stock-based compensation	42		42
Issuances pursuant to stock option and benefit plans	30				(7)		37
Balance at June 30, 2023	$	7,857	$	6,867	$	40,290	$	(32,926)	$	(6,433)	$	59

Three months ended June 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 March 31, 2022	$	15,004	$	6,568	$	46,056	$	(30,860)	$	(6,834)	$	74
Net income	82				78						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(705)								(701)		(4)
Defined benefit pension and post-retirement plans adjustment	85								85
Cash flow hedging instruments	88								88
Total other comprehensive income (loss), net of tax	(532)
Dividends declared	(848)				(848)
Stock-based compensation	48		48
Issuances pursuant to stock option and benefit plans	62				(17)		79
Balance at June 30, 2022	$	13,816	$	6,616	$	45,269	$	(30,781)	$	(7,362)	$	74

Six months ended June 30, 2023

			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, 2022	$	14,770	$	6,700	$	47,950	$	(33,255)	$	(6,673)	$	48
Net income (loss)	(5,855)				(5,865)						10
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	141								140		1
Defined benefit pension and post-retirement plans adjustment	101								101
Cash flow hedging instruments	(1)								(1)
Total other comprehensive income (loss), net of tax	241
Dividends declared	(1,655)				(1,655)
Stock-based compensation	167		167
Reacquired stock	(29)						(29)
Issuances pursuant to stock option and benefit plans	218				(140)		358
Balance at June 30, 2023	$	7,857	$	6,867	$	40,290	$	(32,926)	$	(6,433)	$	59

Six months ended June 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	1,385				1,377						8
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(876)								(871)		(5)
Defined benefit pension and post-retirement plans adjustment	172								172
Cash flow hedging instruments	87								87
Total other comprehensive income (loss), net of tax	(617)
Dividends declared	(1,700)				(1,700)
Stock-based compensation	178		178
Reacquired stock	(773)						(773)
Issuances pursuant to stock option and benefit plans	226				(229)		455
Balance at June 30, 2022	$	13,816	$	6,616	$	45,269	$	(30,781)	$	(7,362)	$	74

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

Three months ended June 30, 2023

(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 March 31, 2023, net of tax:	$	(2,712)	$	(3,787)	$	(31)	$	(6,530)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	3		—		72		75
Amounts reclassified out	39		65		(40)		64
Total other comprehensive income (loss), before tax	42		65		32		139
Tax effect	(18)		(15)		(9)		(42)
Total other comprehensive income (loss), net of tax	24		50		23		97
Balance at June 30, 2023, net of tax:	$	(2,688)	$	(3,737)	$	(8)	$	(6,433)

Three months ended June 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 March 31, 2022, net of tax:	$	(2,113)	$	(4,666)	$	(55)	$	(6,834)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(664)		—		128		(536)
Amounts reclassified out	—		112		(15)		97
Total other comprehensive income (loss), before tax	(664)		112		113		(439)
Tax effect	(37)		(27)		(25)		(89)
Total other comprehensive income (loss), net of tax	(701)		85		88		(528)
Balance at June 30, 2022, net of tax:	$	(2,814)	$	(4,581)	$	33	$	(7,362)

Six months ended June 30, 2023

(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, 2022, net of tax:	$	(2,828)	$	(3,838)	$	(7)	$	(6,673)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	108		—		78		186
Amounts reclassified out	39		129		(81)		87
Total other comprehensive income (loss), before tax	147		129		(3)		273
Tax effect	(7)		(28)		2		(33)
Total other comprehensive income (loss), net of tax	140		101		(1)		240
Balance at June 30, 2023, net of tax:	$	(2,688)	$	(3,737)	$	(8)	$	(6,433)

Six months ended June 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	(814)		—		134		(680)
Amounts reclassified out	—		227		(22)		205
Total other comprehensive income (loss), before tax	(814)		227		112		(475)
Tax effect	(57)		(55)		(25)		(137)
Total other comprehensive income (loss), net of tax	(871)		172		87		(612)
Balance at June 30, 2022, net of tax:	$	(2,814)	$	(4,581)	$	33	$	(7,362)

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 (loss) items that are subsequently recorded as part of net income.

Reclassifications out of Accumulated Other Comprehensive Income (Loss) Attributable to 3M

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)								Location on Income (Loss) Statement
	Three months ended June 30,				Six months ended June 30,
(Millions)	2023		2022		2023		2022
Cumulative translation adjustment
Reclassification adjustment associated with Russia (see Note 13)	$	(39)	$	—	$	(39)	$	—	Selling, general and administrative expenses
Total before tax	(39)		—		(39)		—
Tax effect	—		—		—		—
Net of tax	(39)		—		(39)		—
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	(1)	$	(1)	$	(1)	$	(1)	Other (expense) income, net
Prior service benefit	14		15		27		28		Other (expense) income, net
Net actuarial loss	(78)		(125)		(155)		(252)		Other (expense) income, net
Curtailments/Settlements	—		(1)		—		(2)		Other (expense) income, net
Total before tax	(65)		(112)		(129)		(227)
Tax effect	15		27		28		55		Provision for income taxes
Net of tax	(50)		(85)		(101)		(172)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	42		17		85		26		Cost of sales
Interest rate contracts	(2)		(2)		(4)		(4)		Interest expense
Total before tax	40		15		81		22
Tax effect	(8)		(3)		(18)		(5)		Provision for income taxes
Net of tax	32		12		63		17
Total reclassifications for the period, net of tax	$	(57)	$	(73)	(77)		$	(155)