Revenue

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Contract Balances:

Deferred revenue primarily relates to revenue that is recognized over time for one-year software license contracts. Deferred revenue (current portion) as of June 30, 2023 and December 31, 2022 was $521 million and $538 million, respectively. Approximately $150 million and $350 million of the December 31, 2022 balance was recognized as revenue during the three and six months ended June 30, 2023, respectively, while approximately $140 million and $340 million of the December 31, 2021 balance was recognized as revenue during the three and six months ended June 30, 2022, respectively.

Operating Lease Revenue:

Net sales includes rental revenue from durable medical devices as part of operating lease arrangements (reported within the Medical Solutions Division), which was $146 million and $285 million during the three and six months ended June 30, 2023, respectively, and $148 million and $284 million during the three and six months ended June 30, 2022, respectively.

Disaggregated revenue information:

The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods:

	Three months ended June 30,				Six months ended June 30,
Net Sales (Millions)	2023		2022		2023		2022
Abrasives	$	334	$	346	$	675	$	675
Automotive Aftermarket	305		289		617		584
Closure and Masking Systems	241		270		486		528
Electrical Markets	329		336		653		645
Industrial Adhesives and Tapes	545		586		1,089		1,207
Personal Safety	878		972		1,781		2,099
Roofing Granules	133		125		243		237
Total Safety and Industrial Business Segment	2,765		2,924		5,544		5,975
Advanced Materials	305		307		606		612
Automotive and Aerospace	477		428		939		888
Commercial Solutions	455		448		887		902
Electronics	714		863		1,386		1,786
Transportation Safety	240		222		423		420
Total Transportation and Electronics Business Segment	2,191		2,268		4,241		4,608
Food Safety	—		89		—		181
Health Information Systems	302		309		602		609
Medical Solutions	1,161		1,169		2,284		2,297
Oral Care	351		350		692		698
Separation and Purification Sciences	247		262		479		522
Other Health Care	14		—		28		—
Total Health Care Business Group	2,075		2,179		4,085		4,307
Construction and Home Improvement Markets	542		560		1,071		1,163
Home, Health and Auto Care	428		428		828		865
Stationery and Office	323		342		586		611
Total Consumer Business Group	1,293		1,330		2,485		2,639
Corporate and Unallocated	1		1		1		2
Total Company	$	8,325	$	8,702	$	16,356	$	17,531

	Three months ended June 30,				Six months ended June 30,
Net Sales (Millions)	2023		2022		2023		2022
Americas	$	4,678	$	4,751	$	9,077	$	9,189
Asia Pacific	2,134		2,447		4,314		5,217
Europe, Middle East and Africa	1,513		1,504		2,965		3,125
Worldwide	$	8,325	$	8,702	$	16,356	$	17,531

Americas included United States net sales to customers of $3.8 billion and $7.4 billion for the three and six months ended June 30, 2023, respectively, and $3.9 billion and $7.5 billion for the three and six months ended June 30, 2022, respectively.