Supplemental Equity and Comprehensive Income Information (Tables)

9 Months Ended

Sep. 30, 2020

Supplemental Equity and Comprehensive Income Information

Consolidated Statement of Changes in Equity

Three months ended September 30, 2020

			3M Company Shareholders
			Common						Accumulated
			Stock and						Other
			Additional						Comprehensive		Non-
			Paid-in		Retained		Treasury		Income		controlling
(Millions)	Total		Capital		Earnings		Stock		(Loss)		Interest
Balance at June 30, 2020	$	10,915	$	6,083	$	42,759	$	(29,699)	$	(8,286)	$	58
Net income		1,417				1,413						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		271								270		1
Defined benefit pension and post-retirement plans adjustment		127								127		—
Cash flow hedging instruments		(71)								(71)		—
Total other comprehensive income (loss), net of tax		327
Dividends declared		(847)				(847)
Stock-based compensation		42		42
Reacquired stock		(1)						(1)
Issuances pursuant to stock option and benefit plans		90				(40)		130
Balance at September 30, 2020	$	11,943	$	6,125	$	43,285	$	(29,570)	$	(7,960)	$	63

Nine months ended September 30, 2020

			3M Company Shareholders
			Common						Accumulated
			Stock and						Other
			Additional						Comprehensive		Non-
			Paid-in		Retained		Treasury		Income		controlling
(Millions)	Total		Capital		Earnings		Stock		(Loss)		Interest
Balance at December 31, 2019	$	10,126	$	5,916	$	42,135	$	(29,849)	$	(8,139)	$	63
Net income		3,998				3,995						3
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(67)								(65)		(2)
Defined benefit pension and post-retirement plans adjustment		304								304		—
Cash flow hedging instruments		(60)								(60)		—
Total other comprehensive income (loss), net of tax		177
Dividends declared		(2,540)				(2,540)
Purchase of subsidiary shares		(1)										(1)
Stock-based compensation		209		209
Reacquired stock		(357)						(357)
Issuances pursuant to stock option and benefit plans		331				(305)		636
Balance at September 30, 2020	$	11,943	$	6,125	$	43,285	$	(29,570)	$	(7,960)	$	63

Three months ended September 30, 2019

			3M Company Shareholders
			Common						Accumulated
			Stock and						Other
			Additional						Comprehensive		Non-
			Paid-in		Retained		Treasury		Income		controlling
(Millions)	Total		Capital		Earnings		Stock		(Loss)		Interest
Balance at June 30, 2019	$	10,142	$	5,821	$	41,362	$	(29,828)	$	(7,272)	$	59
Net income		1,588				1,583						5
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(202)								(200)		(2)
Defined benefit pension and post-retirement plans adjustment		76								76		—
Cash flow hedging instruments		8								8		—
Total other comprehensive income (loss), net of tax		(118)
Dividends declared		(828)				(828)
Stock-based compensation		49		49
Reacquired stock		(141)						(141)
Issuances pursuant to stock option and benefit plans		72				(32)		104
Balance at September 30, 2019	$	10,764	$	5,870	$	42,085	$	(29,865)	$	(7,388)	$	62

Nine months ended September 30, 2019

			3M Company Shareholders
			Common						Accumulated
			Stock and						Other
			Additional						Comprehensive		Non-
			Paid-in		Retained		Treasury		Income		controlling
(Millions)	Total		Capital		Earnings		Stock		(Loss)		Interest
Balance at December 31, 2018	$	9,848	$	5,652	$	40,636	$	(29,626)	$	(6,866)	$	52
Impact of adoption of ASU No. 2018-02*		—				853				(853)
Impact of adoption of ASU No. 2016-02*		14				14
Net income		3,612				3,601						11
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(2)								(1)		(1)
Defined benefit pension and post-retirement plans adjustment		356								356		—
Cash flow hedging instruments		(24)								(24)		—
Total other comprehensive income (loss), net of tax		330
Dividends declared		(2,488)				(2,488)
Stock-based compensation		218		218
Reacquired stock		(1,211)						(1,211)
Issuances pursuant to stock option and benefit plans		441				(531)		972
Balance at September 30, 2019	$	10,764	$	5,870	$	42,085	$	(29,865)	$	(7,388)	$	62

*See Note 1 in 3M’s 2019 Annual Report on Form 10-K.

Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M

Three months ended September 30, 2020

							Total
			Defined Benefit		Cash Flow		Accumulated
			Pension and		Hedging		Other
	Cumulative		Postretirement		Instruments,		Comprehensive
	Translation		Plans		Unrealized		Income
(Millions)	Adjustment		Adjustment		Gain (Loss)		(Loss)
Balance at June 30, 2020, net of tax:	$	(2,234)	$	(6,032)	$	(20)	$	(8,286)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		237		—		(72)		165
Amounts reclassified out		—		163		(21)		142
Total other comprehensive income (loss), before tax		237		163		(93)		307
Tax effect		33		(36)		22		19
Total other comprehensive income (loss), net of tax		270		127		(71)		326
Balance at September 30, 2020, net of tax:	$	(1,964)	$	(5,905)	$	(91)	$	(7,960)

Nine months ended September 30, 2020

							Total
			Defined Benefit		Cash Flow		Accumulated
			Pension and		Hedging		Other
	Cumulative		Postretirement		Instruments,		Comprehensive
	Translation		Plans		Unrealized		Income
(Millions)	Adjustment		Adjustment		Gain (Loss)		(Loss)
Balance at December 31, 2019, net of tax:	$	(1,899)	$	(6,209)	$	(31)	$	(8,139)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(98)		(80)		(10)		(188)
Amounts reclassified out		—		489		(68)		421
Total other comprehensive income (loss), before tax		(98)		409		(78)		233
Tax effect		33		(105)		18		(54)
Total other comprehensive income (loss), net of tax		(65)		304		(60)		179
Balance at September 30, 2020, net of tax:	$	(1,964)	$	(5,905)	$	(91)	$	(7,960)

Three months ended September 30, 2019

							Total
			Defined Benefit		Cash Flow		Accumulated
			Pension and		Hedging		Other
	Cumulative		Postretirement		Instruments,		Comprehensive
	Translation		Plans		Unrealized		Income
(Millions)	Adjustment		Adjustment		Gain (Loss)		(Loss)
Balance at June 30, 2019, net of tax:	$	(1,912)	$	(5,369)	$	9	$	(7,272)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(149)		—		31		(118)
Amounts reclassified out		—		101		(21)		80
Total other comprehensive income (loss), before tax		(149)		101		10		(38)
Tax effect		(51)		(25)		(2)		(78)
Total other comprehensive income (loss), net of tax		(200)		76		8		(116)
Balance at September 30, 2019, net of tax:	$	(2,112)	$	(5,293)	$	17	$	(7,388)

Nine months ended September 30, 2019

							Total
			Defined Benefit		Cash Flow		Accumulated
			Pension and		Hedging		Other
	Cumulative		Postretirement		Instruments,		Comprehensive
	Translation		Plans		Unrealized		Income
(Millions)	Adjustment		Adjustment		Gain (Loss)		(Loss)
Balance at December 31, 2018, net of tax:	$	(2,098)	$	(4,832)	$	64	$	(6,866)
Impact of adoption of ASU No. 2018-02*		(13)		(817)		(23)		(853)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(86)		153		14		81
Amounts reclassified out		142		310		(48)		404
Total other comprehensive income (loss), before tax		56		463		(34)		485
Tax effect		(57)		(107)		10		(154)
Total other comprehensive income (loss), net of tax		(1)		356		(24)		331
Balance at September 30, 2019, net of tax	$	(2,112)	$	(5,293)	$	17	$	(7,388)

*See Note 1 in 3M’s 2019 Annual Report on Form 10-K.

Reclassifications Out of Accumulated Other Comprehensive Income

	Amount Reclassified from
Details about Accumulated Other	Accumulated Other Comprehensive Income
Comprehensive Income Components	Three months ended September 30,				Nine months ended September 30,				Location on Income
(Millions)	2020		2019		2020		2019		Statement
Cumulative translation adjustment
Deconsolidation of Venezuelan subsidiary	$	—	$	—	$	—	$	(142)	Other income (expense), net
Total before tax		—		—		—		(142)
Tax effect		—		—		—		—	Provision for income taxes
Net of tax	$	—	$	—	$	—	$	(142)
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	(1)	$	—	$	(2)	$	—	See Note 11
Prior service benefit		15		18		46		50	See Note 11
Net actuarial loss		(176)		(119)		(530)		(358)	See Note 11
Curtailments/Settlements		(1)		—		(3)		—	See Note 11
Deconsolidation of Venezuelan subsidiary		—		—		—		(2)	Other income (expense), net
Total before tax		(163)		(101)		(489)		(310)
Tax effect		36		25		118		70	Provision for income taxes
Net of tax	$	(127)	$	(76)	$	(371)	$	(240)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	$	23	$	22	$	74	$	50	Cost of sales
Interest rate contracts		(2)		(1)		(6)		(2)	Interest expense
Total before tax		21		21		68		48
Tax effect		(5)		(4)		(16)		(9)	Provision for income taxes
Net of tax	$	16	$	17	$	52	$	39
Total reclassifications for the period, net of tax	$	(111)	$	(59)	$	(319)	$	(343)