Supplemental Equity and Comprehensive Income (Loss) Information

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Supplemental Equity and Comprehensive Income (Loss) Information

NOTE 7. Supplemental Equity and Comprehensive Income (Loss) InformationCash dividends declared and paid totaled $1.50 and $1.49 per share for the first, second and third quarters of 2023 and 2022, respectively, or $4.50 and $4.47 per share for the first nine months of 2023 and 2022, respectively.

Consolidated Changes in Equity

Three months ended September 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 June 30, 2023	$	7,857	$	6,867	$	40,290	$	(32,926)	$	(6,433)	$	59
Net income (loss)	(2,071)				(2,075)						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(365)								(364)		(1)
Defined benefit pension and post-retirement plans adjustment	50								50
Cash flow hedging instruments	21								21
Total other comprehensive income (loss), net of tax	(294)
Dividends declared	(828)				(828)
Stock-based compensation	45		45
Reacquired stock	(2)						(2)
Dividend to noncontrolling interest	(3)										(3)
Issuances pursuant to stock option and benefit plans	27				(12)		39
Balance at September 30, 2023	$	4,731	$	6,912	$	37,375	$	(32,889)	$	(6,726)	$	59

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, 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)	(7,926)				(7,940)						14
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(224)								(224)		—
Defined benefit pension and post-retirement plans adjustment	151								151
Cash flow hedging instruments	20								20
Total other comprehensive income (loss), net of tax	(53)
Dividends declared	(2,483)				(2,483)
Stock-based compensation	212		212
Reacquired stock	(31)						(31)
Dividend to noncontrolling interest	(3)										(3)
Issuances pursuant to stock option and benefit plans	245				(152)		397
Balance at September 30, 2023	$	4,731	$	6,912	$	37,375	$	(32,889)	$	(6,726)	$	59

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

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

Three months ended September 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 June 30, 2023, net of tax:	$	(2,688)	$	(3,737)	$	(8)	$	(6,433)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(340)		—		66		(274)
Amounts reclassified out	—		65		(38)		27
Total other comprehensive income (loss), before tax	(340)		65		28		(247)
Tax effect	(24)		(15)		(7)		(46)
Total other comprehensive income (loss), net of tax	(364)		50		21		(293)
Balance at September 30, 2023, net of tax:	$	(3,052)	$	(3,687)	$	13	$	(6,726)

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, 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	(232)		—		144		(88)
Amounts reclassified out	39		194		(119)		114
Total other comprehensive income (loss), before tax	(193)		194		25		26
Tax effect	(31)		(43)		(5)		(79)
Total other comprehensive income (loss), net of tax	(224)		151		20		(53)
Balance at September 30, 2023, net of tax:	$	(3,052)	$	(3,687)	$	13	$	(6,726)

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)

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 September 30,				Nine months ended September 30,
(Millions)	2023		2022		2023		2022
Cumulative translation adjustment
Reclassification adjustment associated with Russia (see Note 13)	$	—	$	—	$	(39)	$	—	Selling, general and administrative expenses
Total before tax	—		—		(39)		—
Tax effect	—		—		—		—
Net of tax	—		—		(39)		—
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	(1)		—		(2)		(1)		Other (expense) income, net
Prior service benefit	13		14		40		42		Other (expense) income, net
Net actuarial loss	(77)		(126)		(232)		(378)		Other (expense) income, net
Curtailments/Settlements	—		—		—		(2)		Other (expense) income, net
Total before tax	(65)		(112)		(194)		(339)
Tax effect	15		26		43		81		Provision for income taxes
Net of tax	(50)		(86)		(151)		(258)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	40		33		125		59		Cost of sales
Interest rate contracts	(2)		(3)		(6)		(7)		Interest expense
Total before tax	38		30		119		52
Tax effect	(9)		(7)		(27)		(12)		Provision for income taxes
Net of tax	29		23		92		40
Total reclassifications for the period, net of tax	$	(21)	$	(63)	(98)		$	(218)