Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provide information by level for material assets and liabilities that are measured at fair value on a recurring basis at June 30, 2024 and December 31, 2023.

	Fair Value at				Fair Value Measurements Using Inputs Considered as
					Level 1				Level 2				Level 3
Description (Millions)	June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023		June 30, 2024		December 31, 2023
Assets:
Available-for-sale:
Marketable securities:
Asset backed securities	$	8	$	—	$	—	$	—	$	8	$	—	$	—	$	—
Foreign corporate debt	6		—		—		—		6		—		—		—
U.S. government securities	27		—		27		—		—		—		—		—
Corporate debt securities	80		—		—		—		80		—		—		—
Commercial paper	40		—		—		—		40		—		—		—
Certificates of deposit/time deposits	91		46		—		—		91		46		—		—
U.S. treasury securities	13		—		13		—		—		—		—		—
U.S. municipal securities	24		24		—		—		—		—		24		24
Solventum common stock	1,817		—		1,817		—		—		—		—		—
Derivative instruments — assets:
Foreign currency forward/option contracts	86		84		—		—		86		84		—		—
Liabilities:
Derivative instruments — liabilities:
Foreign currency forward/option contracts	11		39		—		—		11		39		—		—
Interest rate contracts	96		88		—		—		96		88		—		—

Schedule of Fair Value, by Balance Sheet Grouping

Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:

	June 30, 2024				December 31, 2023
(Millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Long-term debt, excluding current portion	$	11,781	$	10,374	$	13,088	$	11,859