Supplier Finance Program Obligations

3 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

Supplier Finance Program Obligations

NOTE 13. Supplier Finance Program Obligations

Under supplier finance programs, 3M agrees to pay participating banks the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices, generally within 90 days of the invoice date. 3M or the banks may terminate the agreements with advance notice. Separately, the banks may have arrangements with the suppliers that provide them the option to request early payment from the banks for invoices confirmed by 3M. 3M's outstanding balances of confirmed invoices in the programs as of March 31, 2024 and December 31, 2023 were approximately $280 million and $270 million, respectively. These amounts are included within accounts payable on 3M's consolidated balance sheet.