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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Gains (Loss) on Derivative Instruments Designated as Hedges
The amount of pretax gain (loss) recognized in other comprehensive income (loss) related to derivative instruments designated as cash flow hedges is provided in the following table.
Pretax Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivative
Three months ended
March 31,
(Millions)20242023
Foreign currency forward/option contracts $61 $6 
Schedule of Gain (loss) on Derivative Instruments Designated as Fair Value Hedges The following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for active fair value hedges, as well as remaining amounts for discontinued fair value hedges:
Location on the Consolidated Balance Sheet (Millions)
Carrying Value of the Hedged LiabilitiesCumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Value of the Hedged Liabilities
March 31, 2024December 31, 2023March 31, 2024December 31, 2023
Long-term debt$907$918$(96)$(84)
Schedule of Gain (Loss) on Derivative and Non-Derivative Instruments Designated as Net Investment Hedges The amount of pre-tax gain (loss) recognized in other comprehensive income (loss) related to derivative and nonderivative instruments designated as net investment hedges are as follows.
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income (Loss)
Three months ended
March 31,
(Millions)20242023
Foreign currency denominated debt $43 $(43)
Foreign currency forward contracts3 (2)
Total $46 $(45)
Schedule of Location in Consolidated Statement of Income and Pre-Tax Amounts Recognized in Income Related to Derivative Instruments Designated in Cash Flow or Fair Value Hedging Relationship
Three months ended March 31,
Cost of salesOther expense (income), net
(Millions)2024202320242023
Total consolidated financial statement line item amount
$4,329 $4,613 $264 $52 
Pre-tax amounts recognized in income related to derivative instruments
 Information regarding cash flow and fair value hedging relationships:
(Gain) or loss on cash flow hedging relationships:
Foreign currency forward/option contracts:
Amount of (gain) or loss reclassified from accumulated other comprehensive income (loss) into income
(29)(43)— — 
Interest rate contracts:
Amount of (gain) or loss reclassified from accumulated other comprehensive income (loss) into income
— — 2 2 
(Gain) or loss on fair value hedging relationships:
Interest rate contracts:
Hedged items— — (11)12 
Derivatives designated as hedging instruments— — 11 (12)
 Information regarding derivatives not designated as hedging instruments:
(Gain) or loss on derivatives not designated as instruments:
Foreign currency forward/option contracts 5 (8)2 26 
Schedule of Location and Fair Value of Derivative Instruments The following tables summarize the fair value of 3M’s derivative instruments, excluding nonderivative instruments used as hedging instruments, and their location in the consolidated balance sheet. Notional amounts below are presented at period end foreign exchange rates, except for certain interest rate swaps, which are presented using the inception date’s foreign exchange rate.
Gross Notional AmountAssetsLiabilities
 (Millions)LocationFair Value AmountLocationFair Value Amount
March 31,
2024		December 31,
2023		March 31,
2024		December 31,
2023		March 31,
2024		December 31,
2023
Derivatives designated as hedging instruments
Foreign currency forward/option contracts$2,070 $2,109 Other current assets$80 $68 Other current liabilities$7 $27 
Foreign currency forward/option contracts253 342 Other assets11 11 Other liabilities2 5 
Interest rate contracts 800 800 Other assets— — Other liabilities99 88 
Total derivatives designated as hedging instruments 91 79 108 120 
Derivatives not designated as hedging instruments
Foreign currency forward/option contracts 861 1,023 Other current assets2 5 Other current liabilities6 7 
Total derivatives not designated as hedging instruments 2 5 6 7 
Total derivative instruments$93 $84 $114 $127 
Schedule of Offsetting Assets
Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties
 Gross Amount of Derivative Assets Presented in the Consolidated Balance Sheet Gross Amount of Eligible Offsetting Recognized Derivative LiabilitiesNet Amount of Derivative Assets
 (Millions)March 31, 2024December 31, 2023March 31, 2024December 31, 2023March 31, 2024December 31, 2023
Derivatives subject to master netting agreements$93 $84 $15 $30 $78 $54 
Schedule of Offsetting Liabilities
Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties
 Gross Amount of Derivative Liabilities Presented in the Consolidated Balance Sheet Gross Amount of Eligible Offsetting Recognized Derivative AssetsNet Amount of Derivative Liabilities
 (Millions)March 31, 2024December 31, 2023March 31, 2024December 31, 2023March 31, 2024December 31, 2023
Derivatives subject to master netting agreements$114 $127 $15 $30 $99 $97