EXHIBIT 12

3M COMPANY

AND SUBSIDIARIES

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Millions)

EARNINGS	Nine months Ended September 30, 2004		Year 2003			Year 2002		Year 2001		Year 2000		Year 1999
Income from continuing operations before income taxes minority interest, and cumulative effect of accounting change*	$	3,466	$		3,657	$	3,005	$	2,186	$	2,974	$	2,880
Add:
Interest expense	67		112			100		143		127		125
Interest component of the ESOP benefit expense	9		14			16		18		19		21
Portion of rent under operating leases representative of the interest component	38		46			40		39		39		37
Less:
Equity in undistributed income of 20-50% owned companies	4		7			10		5		10		4
TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES	$	3,576	$	3,822		$	3,151	$	2,381	$	3,149	$	3,059
FIXED CHARGES
Interest on debt	58		93			100		150		141		135
Interest component of the ESOP benefit expense	9		14			16		18		19		21
Portion of rent under operating leases representative of the interest component	38		46			40		39		39		37
TOTAL FIXED CHARGES	$	105	$	153		$	156	$	207	$	199	$	193
RATIO OF EARNINGS TO FIXED CHARGES	34.1		25.0			20.2		11.5		15.8		15.8

* 2003 special items included a $93 million pre-tax loss related to an adverse ruling associated with a lawsuit filed by LePage’s Inc.   2002 and 2001 special items included net pre-tax losses of $202 million and $504 million, respectively, primarily related to the restructuring.  2000 special items included net pre-tax losses of $23 million.  1999 special items included net pre-tax gains of $100 million related to gains on divestitures, litigation expense, an investment valuation adjustment, and a change in estimate that reduced 1998 restructuring charges.

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