Supplemental Equity and Comprehensive Income Information (Tables)

6 Months Ended

Jun. 30, 2021

Supplemental Equity and Comprehensive Income Information

Consolidated Statement of Changes in Equity

Three months ended June 30, 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 March 31, 2021	$	13,828	$	6,292	$	44,255	$	(29,020)	$	(7,767)	$	68
Net income		1,525				1,524						1
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		170								171		(1)
Defined benefit pension and post-retirement plans adjustment		121								121		—
Cash flow hedging instruments		(11)								(11)		—
Total other comprehensive income (loss), net of tax		280
Dividends declared		(858)				(858)
Stock-based compensation		54		54
Reacquired stock		(499)						(499)
Issuances pursuant to stock option and benefit plans		186				(97)		283
Balance at June 30, 2021	$	14,516	$	6,346	$	44,824	$	(29,236)	$	(7,486)	$	68

Six months ended June 30, 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		3,152				3,148						4
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(52)								(52)		—
Defined benefit pension and post-retirement plans adjustment		240								240		—
Cash flow hedging instruments		47								47		—
Total other comprehensive income (loss), net of tax		235
Dividends declared		(1,716)				(1,716)
Stock-based compensation		175		175
Reacquired stock		(742)						(742)
Issuances pursuant to stock option and benefit plans		481				(429)		910
Balance at June 30, 2021	$	14,516	$	6,346	$	44,824	$	(29,236)	$	(7,486)	$	68

Three months ended June 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 March 31, 2020	$	10,214	$	6,033	$	42,356	$	(29,817)	$	(8,420)	$	62
Net income		1,303				1,306						(3)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		106								106		—
Defined benefit pension and post-retirement plans adjustment		47								47		—
Cash flow hedging instruments		(36)								(36)		—
Total other comprehensive income (loss), net of tax		117
Dividends declared		(846)				(846)
Purchase of subsidiary shares		(1)										(1)
Stock-based compensation		50		50
Reacquired stock		—						—
Issuances pursuant to stock option and benefit plans		88				(30)		118
Balance at June 30, 2020	$	10,925	$	6,083	$	42,786	$	(29,699)	$	(8,303)	$	58

Six months ended June 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	$	42,130	$	(29,849)	$	(8,134)	$	63
Net income		2,613				2,614						(1)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment		(338)								(335)		(3)
Defined benefit pension and post-retirement plans adjustment		155								155		—
Cash flow hedging instruments		11								11		—
Total other comprehensive income (loss), net of tax		(172)
Dividends declared		(1,693)				(1,693)
Purchase of subsidiary shares		(1)										(1)
Stock-based compensation		167		167
Reacquired stock		(356)						(356)
Issuances pursuant to stock option and benefit plans		241				(265)		506
Balance at June 30, 2020	$	10,925	$	6,083	$	42,786	$	(29,699)	$	(8,303)	$	58

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

Three months ended June 30, 2021
			Defined Benefit		Cash Flow		Total
			Pension and		Hedging		Accumulated
	Cumulative		Postretirement		Instruments,		Other
	Translation		Plans		Unrealized		Comprehensive
(Millions)	Adjustment		Adjustment		Gain (Loss)		Income (Loss)
Balance at March 31, 2021, net of tax:	$	(1,673)	$	(5,979)	$	(115)	$	(7,767)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		159		—		(26)		133
Amounts reclassified out		—		160		12		172
Total other comprehensive income (loss), before tax		159		160		(14)		305
Tax effect		12		(39)		3		(24)
Total other comprehensive income (loss), net of tax		171		121		(11)		281
Balance at June 30, 2021, net of tax:	$	(1,502)	$	(5,858)	$	(126)	$	(7,486)

Six months ended June 30, 2021
			Defined Benefit		Cash Flow		Total
			Pension and		Hedging		Accumulated
	Cumulative		Postretirement		Instruments,		Other
	Translation		Plans		Unrealized		Comprehensive
(Millions)	Adjustment		Adjustment		Gain (Loss)		Income (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		(17)		—		40		23
Amounts reclassified out		—		319		21		340
Total other comprehensive income (loss), before tax		(17)		319		61		363
Tax effect		(35)		(79)		(14)		(128)
Total other comprehensive income (loss), net of tax		(52)		240		47		235
Balance at June 30, 2021, net of tax:	$	(1,502)	$	(5,858)	$	(126)	$	(7,486)

Three months ended June 30, 2020
			Defined Benefit		Cash Flow		Total
			Pension and		Hedging		Accumulated
	Cumulative		Postretirement		Instruments,		Other
	Translation		Plans		Unrealized		Comprehensive
(Millions)	Adjustment		Adjustment		Gain (Loss)		Income (Loss)
Balance at March 31, 2020, net of tax:	$	(2,340)	$	(6,096)	$	16	$	(8,420)
Other comprehensive income (loss), before tax:
Amounts before reclassifications		104		(80)		(15)		9
Amounts reclassified out		—		147		(31)		116
Total other comprehensive income (loss), before tax		104		67		(46)		125
Tax effect		2		(20)		10		(8)
Total other comprehensive income (loss), net of tax		106		47		(36)		117
Balance at June 30, 2020, net of tax:	$	(2,234)	$	(6,049)	$	(20)	$	(8,303)

Six months ended June 30, 2020
			Defined Benefit		Cash Flow		Total
			Pension and		Hedging		Accumulated
	Cumulative		Postretirement		Instruments,		Other
	Translation		Plans		Unrealized		Comprehensive
(Millions)	Adjustment		Adjustment		Gain (Loss)		Income (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		(335)		(80)		62		(353)
Amounts reclassified out		—		297		(47)		250
Total other comprehensive income (loss), before tax		(335)		217		15		(103)
Tax effect		—		(62)		(4)		(66)
Total other comprehensive income (loss), net of tax		(335)		155		11		(169)
Balance at June 30, 2020, net of tax	$	(2,234)	$	(6,049)	$	(20)	$	(8,303)

Reclassifications out of Accumulated Other Comprehensive Income

	Amount Reclassified from
Details about Accumulated Other	Accumulated Other Comprehensive Income
Comprehensive Income Components	Three months ended June 30,				Six months ended June 30,				Location on Income
(Millions)	2021		2020		2021		2020		Statement
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset	$	(1)	$	—	$	(1)	$	(1)	See Note 11
Prior service benefit		15		16		30		31	See Note 11
Net actuarial loss		(173)		(162)		(346)		(325)	See Note 11
Curtailments/Settlements		(1)		(1)		(2)		(2)	See Note 11
Total before tax		(160)		(147)		(319)		(297)
Tax effect		39		33		79		75	Provision for income taxes
Net of tax	$	(121)	$	(114)	$	(240)	$	(222)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts	$	(10)	$	33	$	(17)	$	51	Cost of sales
Interest rate contracts		(2)		(2)		(4)		(4)	Interest expense
Total before tax		(12)		31		(21)		47
Tax effect		3		(7)		5		(11)	Provision for income taxes
Net of tax	$	(9)	$	24	$	(16)	$	36
Total reclassifications for the period, net of tax	$	(130)	$	(90)	$	(256)	$	(186)