Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2018

Significant Accounting Policies

Impact on previously reported values after correction

Three months ended June 30, 2017	Previously
(Millions)	Reported		Revised		Change
Net Sales	$	7,810	$	7,810	$	—
Operating expenses
Cost of sales		4,007		4,020		13
Selling, general and administrative expenses		1,607		1,620		13
Research, development and related expenses		473		478		5
Gain on sale of businesses		(461)		(461)		—
Total operating expenses		5,626		5,657		31
Operating income	$	2,184	$	2,153	$	(31)
Other expense (income), net	$	42	$	11	$	(31)
Income before income taxes	$	2,142	$	2,142	$	—

Six months ended June 30, 2017	Previously
(Millions)	Reported		Revised		Change
Net Sales	$	15,495	$	15,495	$	—
Operating expenses
Cost of sales		7,876		7,902		26
Selling, general and administrative expenses		3,207		3,234		27
Research, development and related expenses		944		954		10
Gain on sale of businesses		(490)		(490)		—
Total operating expenses		11,537		11,600		63
Operating income	$	3,958	$	3,895	$	(63)
Other expense (income), net	$	79	$	16	$	(63)
Income before income taxes	$	3,879	$	3,879	$	—

Earnings per share

	Three months ended				Six months ended
	June 30,				June 30,
(Amounts in millions, except per share amounts)	2018		2017		2018		2017
Numerator:
Net income attributable to 3M	$	1,857	$	1,583	$	2,459	$	2,906
Denominator:
Denominator for weighted average 3M common shares outstanding – basic		591.4		598.1		593.8		598.1
Dilution associated with the Company’s stock-based compensation plans		12.8		14.7		14.7		14.3
Denominator for weighted average 3M common shares outstanding – diluted		604.2		612.8		608.5		612.4
Earnings per share attributable to 3M common shareholders – basic	$	3.14	$	2.65	$	4.14	$	4.86
Earnings per share attributable to 3M common shareholders – diluted	$	3.07	$	2.58	$	4.04	$	4.74