Long-Term Debt and Short-Term Borrowings

6 Months Ended

Jun. 30, 2019

Long-Term Debt and Short-Term Borrowings

NOTE 10. Long-Term Debt and Short-Term Borrowings

In February 2019, 3M issued $450 million aggregate principal amount of 3-year fixed rate medium-term notes due 2022 with a coupon rate of 2.75%, $500 million aggregate principal amount of remaining 5-year fixed rate medium-term notes due 2024 with a coupon rate of 3.25%, $800 million aggregate principal amount of 10-year fixed rate medium-term notes due 2029 with a coupon rate of 3.375%, and $500 million aggregate principal amount of remaining 29.5-year fixed rate medium-term notes due 2048 with a coupon rate of 4.00%. Issuances of the 5-year and 29.5-year notes were pursuant to a reopening of existing securities issued in September 2018.

As of June 30, 2019, the Company had no commercial paper outstanding, compared to $435 million in commercial paper outstanding as of December 31, 2018.

In June 2019, 3M repaid $625 million aggregate principal amount of fixed-rate medium-term notes that matured.

Future Maturities of Long-term Debt

Maturities of long-term debt in the table below reflect the impact of put provisions associated with certain debt instruments and are net of the unaccreted debt issue costs such that total maturities equal the carrying value of long-term debt as of June 30, 2019. The maturities of long-term debt for the periods subsequent to June 30, 2019 are as follows (in millions):

Remainder of												After
2019		2020		2021		2022		2023		2024		2024		Total
$	124	$	1,332	$	1,698	$	1,612	$	1,324	$	1,101	$	8,586	$	15,777