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Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2021
Significant Accounting Policies |
Impact on previously reported values after correction | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated Statement of Income ​ | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, 2020 | ​ | June 30, 2020
​ | ​ | Under Prior |  | ​ | ​ | ​ | Under Prior | ​ | ​ | ​
(Millions, except per share amounts) | ​ | Method | ​ | As Adjusted | ​ | Method | ​ | As Adjusted
Other expense (income), net | ​ | $ | 111 | ​ | $ | 90 | ​ | $ | 207 | ​ | $ | 165
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 1,629 | ​ | $ | 1,650 | ​ | $ | 3,196 | ​ | $ | 3,238
Provision for income taxes | ​ | ​ | 342 | ​ | ​ | 347 | ​ | ​ | 615 | ​ | ​ | 625
Income of consolidated group | ​ | $ | 1,287 | ​ | $ | 1,303 | ​ | $ | 2,581 | ​ | $ | 2,613
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income including noncontrolling interest | ​ | $ | 1,287 | ​ | $ | 1,303 | ​ | $ | 2,581 | ​ | $ | 2,613
Net income attributable to 3M | ​ | $ | 1,290 | ​ | $ | 1,306 | ​ | $ | 2,582 | ​ | $ | 2,614
Earnings per share attributable to 3M common shareholders — basic | ​ | $ | 2.24 | ​ | $ | 2.26 | ​ | $ | 4.48 | ​ | $ | 4.53
Earnings per share attributable to 3M common shareholders — diluted | ​ | $ | 2.22 | ​ | $ | 2.25 | ​ | $ | 4.44 | ​ | $ | 4.50
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated Statement of Comprehensive Income | ​ | Three months ended | ​ | Six months ended
​ | ​ | June 30, 2020 | ​ | June 30, 2020
​ | ​ | Under Prior |  | ​ | ​ | ​ | Under Prior | ​ | ​ | ​
(Millions) | ​ | Method | ​ | As Adjusted | ​ | Method | ​ | As Adjusted
Net income including noncontrolling interest | ​ | $ | 1,287 | ​ | $ | 1,303 | ​ | $ | 2,581 | ​ | $ | 2,613
Other comprehensive income (loss), net of tax: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Defined benefit pension and postretirement plans adjustment | ​ | $ | 58 | ​ | $ | 47 | ​ | $ | 177 | ​ | $ | 155
Total other comprehensive income (loss), net of tax | ​ | $ | 128 | ​ | $ | 117 | ​ | $ | (150) | ​ | $ | (172)
Comprehensive income (loss) including noncontrolling interest | ​ | $ | 1,415 | ​ | $ | 1,420 | ​ | $ | 2,431 | ​ | $ | 2,441
Comprehensive income (loss) attributable to 3M | ​ | $ | 1,418 | ​ | $ | 1,423 | ​ | $ | 2,435 | ​ | $ | 2,445
​
​ | ​ | ​ | ​ | ​ | ​ | ​
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 ​ | ​ | Six months ended | ​
​ | ​ | June 30, 2020 | ​
​ | ​ | Under Prior | ​ | ​ | ​ | ​
(Millions) | ​ | Method | ​ | As Adjusted | ​
Net income including noncontrolling interest | ​ | $ | 2,581 | ​ | $ | 2,613 | ​
Company pension and postretirement expense | ​ | $ | 197 | ​ | $ | 155 | ​
Other — net | ​ | $ | (386) | ​ | $ | (376) | ​
Earnings Per Share Computations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended |  | Six months ended
​ | ​ | June 30, | ​ | June 30,
(Amounts in millions, except per share amounts) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to 3M | ​ | $ | 1,524 | ​ | $ | 1,306 | ​ | $ | 3,148 | ​ | $ | 2,614
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator for weighted average 3M common shares outstanding – basic | ​ |  | 581.0 | ​ |  | 577.0 | ​ |  | 580.7 | ​ |  | 576.9
Dilution associated with the Company’s stock-based compensation plans | ​ |  | 7.6 | ​ |  | 3.8 | ​ |  | 6.7 | ​ |  | 4.3
Denominator for weighted average 3M common shares outstanding – diluted | ​ |  | 588.6 | ​ |  | 580.8 | ​ |  | 587.4 | ​ |  | 581.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per share attributable to 3M common shareholders – basic | ​ | $ | 2.62 | ​ | $ | 2.26 | ​ | $ | 5.42 | ​ | $ | 4.53
Earnings per share attributable to 3M common shareholders – diluted | ​ | $ | 2.59 | ​ | $ | 2.25 | ​ | $ | 5.36 | ​ | $ | 4.50

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