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Revenue
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue
NOTE 2. Revenue
Contract Balances: Deferred revenue primarily relates to revenue that is recognized over time for one-year software license contracts. Refer to Note 7 for deferred revenue balances as of December 31, 2023 and 2022. Approximately $520 million of the December 31, 2022 balance was recognized as revenue during the year ended December 31, 2023, while approximately $500 million of the December 31, 2021 balance was recognized as revenue during the year ended December 31, 2022.
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 $590 million, $577 million, and $582 million for the years ended December 31, 2023, 2022, and 2021 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:
Net Sales by Division (millions)202320222021
Abrasives$1,327$1,343$1,296
Automotive Aftermarket1,2371,2091,164
Closure and Masking Systems9621,0461,033
Electrical Markets1,2851,3041,229
Industrial Adhesives and Tapes2,1642,3312,353
Personal Safety3,4873,9164,470
Roofing Granules494455428
Other Safety and Industrial8
Total Safety and Industrial Business Segment10,95611,60411,981
Advanced Materials1,1671,2051,200
Automotive and Aerospace1,9251,7541,756
Commercial Solutions1,7231,7511,717
Electronics2,8633,3593,673
Transportation Safety823833907
Other Transportation and Electronics 9
Total Transportation and Electronics Business Segment8,5018,9029,262
Food Safety244368
Health Information Systems1,2191,2591,220
Medical Solutions4,6254,5814,632
Oral Care1,3291,3271,396
Separation and Purification Sciences951992984
Other Health Care71 241
Total Health Care Business Group8,1958,4278,601
Construction and Home Improvement Markets2,2212,3462,465
Home, Health and Auto Care1,5831,6551,741
Stationery and Office1,2221,2911,306
Other Consumer(3)
Total Consumer Business Group5,0265,2925,509
Corporate and Unallocated342
Total Company$32,681$34,229$35,355
Net Sales by Geographic Area (millions)202320222021
Americas$18,375 $18,400 $18,097 
Asia Pacific8,463 9,901 10,600 
Europe, Middle East and Africa5,843 5,928 6,660 
Other Unallocated — (2)
Worldwide$32,681 $34,229 $35,355 
Americas included United States net sales to customers of $15.1 billion, $15.0 billion and $15.0 billion in 2023, 2022 and 2021, respectively. Asia Pacific included China/Hong Kong net sales to customers of $3.2 billion, $3.8 billion and $4.0 billion in 2023, 2022 and 2021, respectively.