EXHIBIT 12

3M COMPANY AND SUBSIDIARIES

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Millions)

	Three months
	ended
	March 31,		Year		Year		Year		Year		Year
	2017		2016		2015		2014		2013		2012
EARNINGS
Income before income taxes	$	1,737	$	7,053	$	6,823	$	7,026	$	6,562	$	6,351
Add:
Interest expense (including amortization of capitalized interest)		50		219		171		164		166		191
Portion of rent under operating leases representative of the interest component		26		100		101		104		103		92
Less:
Equity in undistributed income of 20-50% owned companies		3		9		5		(1)		(1)		3
TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES	$	1,810	$	7,363	$	7,090	$	7,295	$	6,832	$	6,631
FIXED CHARGES
Interest on debt (including capitalized interest)		48		208		162		159		166		194
Portion of rent under operating leases representative of the interest component		26		100		101		104		103		92
TOTAL FIXED CHARGES	$	74	$	308	$	263	$	263	$	269	$	286
RATIO OF EARNINGS TO FIXED CHARGES		24.5		23.9		27.0		27.7		25.4		23.2