Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Significant Accounting Policies

Impact on previously reported values after correction

Consolidated Statement of Income	Three months ended
	March 31, 2020
	Under Prior
(Millions, except per share amounts)	Method		As Adjusted
Other expense (income), net	$	96	$	75
Income before income taxes	$	1,567	$	1,588
Provision for income taxes		273		278
Income of consolidated group	$	1,294	$	1,310
Net income including noncontrolling interest	$	1,294	$	1,310
Net income attributable to 3M	$	1,292	$	1,308
Earnings per share attributable to 3M common shareholders — basic	$	2.24	$	2.27
Earnings per share attributable to 3M common shareholders — diluted	$	2.22	$	2.25

Consolidated Statement of Comprehensive Income	Three months ended
	March 31, 2020
	Under Prior
(Millions)	Method		As Adjusted
Net income including noncontrolling interest	$	1,294	$	1,310
Other comprehensive income (loss), net of tax:
Defined benefit pension and postretirement plans adjustment	$	119	$	108
Total other comprehensive income (loss), net of tax	$	(278)	$	(289)
Comprehensive income (loss) including noncontrolling interest	$	1,016	$	1,021
Comprehensive income (loss) attributable to 3M	$	1,017	$	1,022

Consolidated Balance Sheet	As of December 31, 2020
	Under Prior
(Millions)	Method		As Adjusted
Retained Earnings	$	43,761	$	43,821
Accumulated other comprehensive income (loss)	$	(7,661)	$	(7,721)

Consolidated Statement of Cash Flows	Three months ended
	March 31, 2020
	Under Prior
(Millions)	Method		As Adjusted
Net income including noncontrolling interest	$	1,294	$	1,310
Company pension and postretirement expense	$	98	$	77
Other — net	$	(457)	$	(452)

Earnings Per Share Computations

	Three months ended
	March 31,
(Amounts in millions, except per share amounts)	2021		2020
Numerator:
Net income attributable to 3M	$	1,624	$	1,308
Denominator:
Denominator for weighted average 3M common shares outstanding – basic		580.5		576.8
Dilution associated with the Company’s stock-based compensation plans		5.8		4.7
Denominator for weighted average 3M common shares outstanding – diluted		586.3		581.5
Earnings per share attributable to 3M common shareholders – basic	$	2.80	$	2.27
Earnings per share attributable to 3M common shareholders – diluted	$	2.77	$	2.25