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Supplemental Equity and Comprehensive Income Information (Tables) | 3 Months Ended
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Mar. 31, 2021
Supplemental Equity and Comprehensive Income Information |
Consolidated Statement of 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 | 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) | ​
Reclassifications out of Accumulated Other Comprehensive Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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) | ​ | ​ | ​

X
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