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Significant Accounting Policies (Tables) | 3 Months Ended
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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 | ​

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