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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
All amounts in U.S. dollarsValue of Initial Fixed $100
Investment Based on:
(a)(b)(c)(d)(e)(f)(g)(h)(i)
Year
Summary
Compensation
Table Total for
CEO(1)
Compensation
Actually Paid
to CEO(2)
Average
Summary
Compensation
Table Total for
Other NEOs(1)
Average
Compensation
Actually Paid to
Other NEOs(2)
Total
Shareholder
Return
Peer Group
Total
Shareholder
Return(3)
GAAP Net
Income
($mil.)
Company
Selected
Measure:
Organic Sales
Growth(4)
202316,424,566 15,615,060 11,186,064 11,580,343 73.36 143.60 (6,995)(3.2 %)
202214,031,387 152,482 5,322,998 1,852,154 75.89 123.60 5,777 1.2 %
202118,200,584 18,438,692 5,527,247 3,553,621 107.80 132.71 5,921 8.8 %
202020,700,347 15,704,765 5,810,620 2,335,315 102.79 109.72 5,384 (1.7 %)
     
Company Selected Measure Name Organic Sales Growth      
Named Executive Officers, Footnote Michael F. Roman was our CEO for each year presented. For 2023, our other NEOs were Monish Patolawala, Peter D. Gibbons, Bryan C. Hanson, and Kevin H. Rhodes; for 2022, our other NEOs were Monish Patolawala, Peter D. Gibbons, Jeffrey R. Lavers, Michael G. Vale, and Mojdeh Poul; for 2021, our other NEOs were Monish Patolawala, Ashish K. Khandpur, Mojdeh Poul, and Michael G. Vale; and for 2020, our other NEOs were Monish Patolawala, Eric D. Hammes, Mojdeh Poul, Michael G. Vale, and Nicholas C. Gangestad.      
Peer Group Issuers, Footnote Reflects total shareholder return indexed to $100 for the Dow Jones Industrial Average (DJIA) Index, which is an industry line peer group reported in the performance graph included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and assuming reinvestment of all dividends, where applicable.      
PEO Total Compensation Amount $ 16,424,566 $ 14,031,387 $ 18,200,584 $ 20,700,347
PEO Actually Paid Compensation Amount $ 15,615,060 152,482 18,438,692 15,704,765
Adjustment To PEO Compensation, Footnote The dollar amounts reported represent CAP, as computed in accordance with Securities and Exchange Commission rules. The dollar amounts do not reflect the actual amount of compensation earned or paid during the applicable year. In accordance with Securities and Exchange Commission rules, the following adjustments were made to SCT total compensation to determine CAP:
Reconciliation of SCT total compensation to CAP for CEO
All amounts in U.S. dollars
(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)(k) = (b)-(c)+
(d)-(e)+(f)+
(g)+(h)+
(i)-(j)
Fiscal
Year
SCT
Total for
CEO
Minus SCT
Change in
Pension
Value for
CEO
Plus
Pension
Value
Service
Cost(i)
Minus SCT
Equity for
CEO
Plus EOY
Fair Value of
Equity Awards
Granted
During Fiscal
Year that are
Outstanding
and Unvested
at EOY(ii)
Plus Change
from BOY
to EOY in
Fair Value
of Awards
Granted in Any
Prior Fiscal
Year that are
Outstanding
and Unvested
at EOY(ii)
Plus Fair
Value at
Vesting Date
of Awards
Granted and
Vested During
the Fiscal
Year(ii)
Plus Change
in Fair Value
from BOY to
Vesting Date
of Awards
Granted in
Any Prior
Fiscal Year
that Vested
During the
Fiscal Year(ii)
Minus Fair
Value at
Prior Fiscal Year EOY of
Awards
Granted in
Prior Year
that were
Forfeited
During
the Fiscal
Year(ii)
CEO
CAP
202316,424,566 — 613,038 11,999,342 12,066,153 (1,199,715)— (289,640)— 15,615,060 
202214,031,387 — 742,142 11,000,949 5,780,110 (5,795,900)— (3,604,307)— 152,482 
202118,200,584 2,978,538 756,691 10,501,098 11,644,213 756,097 — 560,744 — 18,438,692 
202020,700,347 7,709,350 512,179 10,001,635 13,484,523 (559,922)— (721,377)— 15,704,765 
“EOY” = End of Year, “BOY” = Beginning of Year
Pension value service cost is calculated as the actuarial present value of benefits attributed to services rendered by the executive during the applicable fiscal year under the Company’s defined benefit pension plans, using the same methodology used in the Company’s GAAP financial statements included in its Annual Report on Form 10-K.
(ii)For this purpose, the fair value of equity awards was calculated in accordance with ASC Topic 718. The fair value of unvested time-based share awards, as well as the fair value of all share-based awards upon vesting, is based upon the closing price for a share of 3M common stock on the NYSE for the applicable date of measurement. The fair value of unvested performance share awards is based upon the probable outcome of the applicable performance conditions at the time of measurement. The fair value of unvested options, and the fair value received upon the vesting of stock options, is based upon the Black-Scholes option-pricing model as of the date of measurement, consistent with the stock option valuation model used to determine amounts reported in the Company’s Annual Report on Form 10-K.
     
Non-PEO NEO Average Total Compensation Amount $ 11,186,064 5,322,998 5,527,247 5,810,620
Non-PEO NEO Average Compensation Actually Paid Amount $ 11,580,343 1,852,154 3,553,621 2,335,315
Adjustment to Non-PEO NEO Compensation Footnote The dollar amounts reported represent CAP, as computed in accordance with Securities and Exchange Commission rules. The dollar amounts do not reflect the actual amount of compensation earned or paid during the applicable year. In accordance with Securities and Exchange Commission rules, the following adjustments were made to SCT total compensation to determine CAP:
Reconciliation of SCT total compensation to CAP for Average of Other NEOs
All amounts in U.S. dollars
(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)(k) = (b)-(c)+
(d)-(e)+(f)+
(g)+(h)+
(i)-(j)
Fiscal
Year
Average SCT
Total for
Other NEOs
Minus SCT
Change in
Pension
Value for
Other NEOs
Plus
Pension
Value
Service
Cost(i)
Minus SCT
Equity for
Other NEOs
Plus EOY
Fair Value
of Equity
Awards
Granted
During Fiscal
Year that are
Outstanding
and
Unvested at
EOY(ii)
Plus Change
from BOY
to EOY in
Fair Value
of Awards
Granted in
Any Prior
Fiscal Year
that are
Outstanding
and
Unvested at
EOY(ii)
Plus Fair
Value at
Vesting
Date of
Awards
Granted
and
Vested
During
the
Fiscal
Year(ii)
Plus
Change in
Fair Value
from BOY
to Vesting
Date of
Awards
Granted in
Any Prior
Fiscal Year
that Vested
During
the Fiscal
Year(ii)
Minus Fair
Value at
Prior Fiscal
Year EOY of
Awards
Granted in
Prior Year
that were
Forfeited
During
the Fiscal
Year(ii)
CAP for
Other NEOs
202311,186,064 280,291 57,618 6,592,161 7,525,387 (240,444)12,375 (88,205)— 11,580,343 
20225,322,998 124,457 103,225 3,851,488 706,405 (22,688)— (225,074)56,767 1,852,154 
20215,527,247 93,789 173,685 3,414,689 1,229,934 73,896 1,479 55,858 — 3,553,621 
20205,810,620 1,066,337 133,549 3,505,019 1,392,235 (79,805)— (62,847)287,081 2,335,315 
“EOY” = End of Year, “BOY” = Beginning of Year
Pension value service cost is calculated as the actuarial present value of benefits attributed to services rendered by the executive during the applicable fiscal year under the Company’s defined benefit pension plans, using the same methodology used in the Company’s GAAP financial statements included in its Annual Report on Form 10-K.
(ii)For this purpose, the fair value of equity awards was calculated in accordance with ASC Topic 718. The fair value of unvested time-based share awards, as well as the fair value of all share-based awards upon vesting, is based upon the closing price for a share of 3M common stock on the NYSE for the applicable date of measurement. The fair value of unvested performance share awards is based upon the probable outcome of the applicable performance conditions at the time of measurement. The fair value of unvested options, and the fair value received upon the vesting of stock options, is based upon the Black-Scholes option-pricing model as of the date of measurement, consistent with the stock option valuation model used to determine amounts reported in the Company’s Annual Report on Form 10-K.
     
Compensation Actually Paid vs. Total Shareholder Return
Relationship between Company TSR and Peer Group TSR and CAP and Company TSR. The graphs below illustrate the relationship between our TSR and the Peer Group TSR, as well as the relationship between CAP and our TSR for the CEO and other NEOs. For reference, SCT total compensation values for each year are also shown. As the graphs below illustrate, CAP amounts for our CEO are generally aligned with 3M’s TSR. For the other NEOs, CAP and SCT total compensation values in 2023 are much higher than in the prior years due primarily to the special make-whole cash and RSU awards provided to Mr. Hanson to replace compensation he forfeited when he left his prior employer to join 3M. Because of these one-time awards, the alignment between CAP amounts for our other NEOs and 3M’s TSR in 2023 is not as apparent. The graph below also illustrates the relationship between our TSR and the Peer Group TSR.
CEO pay vs. performance: Total shareholder return
6047314087454
n
CEO SCT
n
CEO CAP
Peer Group TSR
3M TSR
Other NEOs Pay vs. performance: Total shareholder return
6047314087515
n
Other NEOs SCT
n
Other NEOs CAP
Peer Group TSR
3M TSR
     
Compensation Actually Paid vs. Net Income
Relationship between CAP and GAAP Net Income. The graph below reflects the relationship between the CEO and average other NEO CAP and our GAAP Net Income. Average other NEO CAP value in 2023 is much higher than in the prior years due primarily to the special make-whole cash and RSU awards provided to Mr. Hanson to replace compensation he forfeited when he left his prior employer to join 3M. Our fiscal year 2023 financial results include special items that had a significant negative impact on our GAAP net income, the most significant of which was $11.6 billion in after-tax net costs for significant litigation associated with PFAS-related other environmental and Combat Arms Earplugs matters. GAAP net income is not used as a metric in our annual or long-term incentive plans. Refer to the CD&A for information on the financial metrics utilized in our compensation plans, and to the Appendices for a detailed reconciliation of these measures with the most directly comparable GAAP financial measures.
6047314088520
n
CEO CAP
n
Other NEOs CAP
02_424588-1_icon_legends-diamond.jpg 
GAAP Net Income
     
Compensation Actually Paid vs. Company Selected Measure
Relationship between CAP and Organic Sales Growth (our Company-Selected Measure). The graph below reflects the relationship between CEO and average other NEO CAP and Organic Sales Growth. 2023 organic growth was negatively impacted by declines in consumer-facing markets such as electronics and consumer retail, disposable respirator sales declines, normalization of post-COVID-related biopharma demand, declines in health information systems from tighter hospital budgets, the Company’s exit from Russia, and slowing growth in China. Average other NEO CAP value in 2023 is much higher than in the prior years due primarily to the special make-whole cash and RSU awards provided to Mr. Hanson to replace compensation he forfeited when he left his prior employer to join 3M.
6047314089287
n
CEO CAP
n
Other NEOs CAP
02_424588-1_icon_legends-diamond.jpg 
Organic Sales Growth
     
Tabular List, Table
Local Currency SalesRelative Organic Sales Growth
Operating IncomeReturn on Invested Capital
Operating Cash Flow ConversionFree Cash Flow Conversion
Adjusted Earnings per Share Growth
     
Total Shareholder Return Amount $ 73.36 75.89 107.80 102.79
Peer Group Total Shareholder Return Amount 143.60 123.60 132.71 109.72
Net Income (Loss) $ (6,995,000,000) $ 5,777,000,000 $ 5,921,000,000 $ 5,384,000,000
Company Selected Measure Amount (0.032) 0.012 0.088 (0.017)
PEO Name Michael F. Roman      
Additional 402(v) Disclosure Please see Appendix B for a definition of Organic Sales Growth. Values shown reflect Organic Sales Growth as calculated for purposes of our executive compensation program for the applicable reporting year.      
Measure:: 1        
Pay vs Performance Disclosure        
Name Relative Organic Sales Growth      
Measure:: 2        
Pay vs Performance Disclosure        
Name Return on Invested Capital      
Measure:: 3        
Pay vs Performance Disclosure        
Name Free Cash Flow Conversion      
Measure:: 4        
Pay vs Performance Disclosure        
Name Local Currency Sales      
Measure:: 5        
Pay vs Performance Disclosure        
Name Operating Income      
Measure:: 6        
Pay vs Performance Disclosure        
Name Operating Cash Flow Conversion      
Measure:: 7        
Pay vs Performance Disclosure        
Name Adjusted Earnings per Share Growth      
PEO | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 2,978,538 $ 7,709,350
PEO | Pension Adjustments, Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 613,038 742,142 756,691 512,179
PEO | Stock Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 11,999,342 11,000,949 10,501,098 10,001,635
PEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 12,066,153 5,780,110 11,644,213 13,484,523
PEO | Equity Awards Granted in Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,199,715) (5,795,900) 756,097 (559,922)
PEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Equity Awards Granted in Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (289,640) (3,604,307) 560,744 (721,377)
PEO | Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Change in Pension Value [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 280,291 124,457 93,789 1,066,337
Non-PEO NEO | Pension Adjustments, Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 57,618 103,225 173,685 133,549
Non-PEO NEO | Stock Awards Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 6,592,161 3,851,488 3,414,689 3,505,019
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 7,525,387 706,405 1,229,934 1,392,235
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (240,444) (22,688) 73,896 (79,805)
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 12,375 0 1,479 0
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (88,205) (225,074) 55,858 (62,847)
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 56,767 $ 0 $ 287,081