Supplemental Equity and Comprehensive Income Information

3 Months Ended

Mar. 31, 2021

Supplemental Equity and Comprehensive Income Information

Supplemental Equity and Comprehensive Income Information

NOTE 7. Supplemental Equity and Comprehensive Income Information

Cash dividends declared and paid totaled $1.48 and $1.47 per share for the first quarter 2021 and 2020, respectively.

Consolidated Changes in Equity

Three months ended March 31, 2021

			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, 2020	$	12,931	$	6,171	$	43,821	$	(29,404)	$	(7,721)	$	64
Net income		1,627				1,624						3
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(222)								(223)		1
Defined benefit pension and post-retirement plans adjustment		119								119		—
Cash flow hedging instruments		58								58		—
Total other comprehensive income (loss), net of tax		(45)
Dividends declared		(858)				(858)
Stock-based compensation		121		121
Reacquired stock		(243)						(243)
Issuances pursuant to stock option and benefit plans		295				(332)		627
Balance at March 31, 2021	$	13,828	$	6,292	$	44,255	$	(29,020)	$	(7,767)	$	68

Three months ended March 31, 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	$	42,130	$	(29,849)	$	(8,134)	$	63
Net income		1,310				1,308						2
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(444)								(441)		(3)
Defined benefit pension and post-retirement plans adjustment		108								108		—
Cash flow hedging instruments		47								47		—
Total other comprehensive income (loss), net of tax		(289)
Dividends declared		(847)				(847)
Stock-based compensation		117		117
Reacquired stock		(356)						(356)
Issuances pursuant to stock option and benefit plans		153				(235)		388
Balance at March 31, 2020	$	10,214	$	6,033	$	42,356	$	(29,817)	$	(8,420)	$	62

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

Three months ended March 31, 2021

							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, 2020, net of tax:	$	(1,450)	$	(6,098)	$	(173)	$	(7,721)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(176)		—		66		(110)
Amounts reclassified out		—		159		9		168
Total other comprehensive income (loss), before tax		(176)		159		75		58
Tax effect		(47)		(40)		(17)		(104)
Total other comprehensive income (loss), net of tax		(223)		119		58		(46)
Balance at March 31, 2021, net of tax:	$	(1,673)	$	(5,979)	$	(115)	$	(7,767)

Three months ended March 31, 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)	$	(6,204)	$	(31)	$	(8,134)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		(439)		—		77		(362)
Amounts reclassified out		—		150		(16)		134
Total other comprehensive income (loss), before tax		(439)		150		61		(228)
Tax effect		(2)		(42)		(14)		(58)
Total other comprehensive income (loss), net of tax		(441)		108		47		(286)
Balance at March 31, 2020, net of tax:	$	(2,340)	$	(6,096)	$	16	$	(8,420)

Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation does include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are subsequently recorded as part of net income.

Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M

	Amount Reclassified from
Details about Accumulated Other	Accumulated Other Comprehensive Income
Comprehensive Income Components	Three months ended March 31,				Location on Income
(Millions)	2021		2020		Statement
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	—	$	(1)	See Note 11
Prior service benefit		15		15	See Note 11
Net actuarial loss		(173)		(163)	See Note 11
Curtailments/Settlements		(1)		(1)	See Note 11
Total before tax		(159)		(150)
Tax effect		40		42	Provision for income taxes
Net of tax	$	(119)	$	(108)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	$	(7)	$	18	Cost of sales
Interest rate contracts		(2)		(2)	Interest expense
Total before tax		(9)		16
Tax effect		2		(4)	Provision for income taxes
Net of tax	$	(7)	$	12
Total reclassifications for the period, net of tax	$	(126)	$	(96)