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Supplemental Equity and Comprehensive Income Information | 9 Months Ended
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Sep. 30, 2021
Stockholders' Equity Note [Abstract] |
Supplemental Equity and Comprehensive Income Information | Supplemental Equity and Comprehensive Income Information Cash dividends declared and paid totaled $1.48 and $1.47 per share for the first, second, and third quarters of 2021 and 2020, respectively, or $4.44 and $4.41 per share for the first nine months of 2021 and 2020, respectively. Consolidated Changes in Equity Three months ended September 30, 2021
|  |  |  | 3M Company Shareholders |  |
(Millions) |  | Total |  | Common Stock and Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Income (Loss) |  | Non- controlling Interest
Balance at June 30, 2021 |  | $ | 14,516 |  | $ | 6,346 |  | $ | 44,824 |  | $ | (29,236) |  |  | $ | (7,486) |  |  | $ | 68
Net income |  | 1,437 |  |  |  | 1,434 |  |  |  |  |  | 3
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustment |  | (302) |  |  |  |  |  |  |  | (301) |  | (1) |
Defined benefit pension and post-retirement plans adjustment |  | 119 |  |  |  |  |  |  |  | 119 |  | —
Cash flow hedging instruments |  | 48 |  |  |  |  |  |  |  |  | 48 |  |  | —
Total other comprehensive income (loss), net of tax |  | (135) |  |  |  |  |  |  |  |  |  |
Dividends declared |  | (856) |  |  |  |  | (856) |  |  |  |  |  |  |
Stock-based compensation |  | 46 |  | 46 |  |  |  |  |  |  |  |
Reacquired stock |  | (563) |  |  |  |  |  |  | (563) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 85 |  |  |  | (41) |  |  | 126 |  |  |  |
Balance at September 30, 2021 |  | $ | 14,530 |  | $ | 6,392 |  | $ | 45,361 |  | $ | (29,673) |  |  | $ | (7,620) |  |  | $ | 70
Nine months ended September 30, 2021
|  |  |  | 3M Company Shareholders |  |
(Millions) |  | Total |  | Common Stock and Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Income (Loss) |  | Non- controlling Interest
Balance at December 31, 2020 |  | $ | 12,931 |  | $ | 6,171 |  | $ | 43,821 |  | $ | (29,404) |  |  | $ | (7,721) |  |  | $ | 64
Net income |  | 4,589 |  |  |  | 4,582 |  |  |  |  |  | 7
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustment |  | (354) |  |  |  |  |  |  |  |  | (353) |  |  | (1)
Defined benefit pension and post-retirement plans adjustment |  | 359 |  |  |  |  |  |  |  | 359 |  | —
Cash flow hedging instruments |  | 95 |  |  |  |  |  |  |  | 95 |  | —
Total other comprehensive income (loss), net of tax |  | 100 |  |  |  |  |  |  |  |  |  |
Dividends declared |  | (2,572) |  |  |  |  | (2,572) |  |  |  |  |  |  |
Stock-based compensation |  | 221 |  | 221 |  |  |  |  |  |  |  |
Reacquired stock |  | (1,305) |  |  |  |  |  |  | (1,305) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 566 |  |  |  | (470) |  |  | 1,036 |  |  |  |
Balance at September 30, 2021 |  | $ | 14,530 |  | $ | 6,392 |  | $ | 45,361 |  | $ | (29,673) |  |  | $ | (7,620) |  |  | $ | 70
Three months ended September 30, 2020
|  |  |  | 3M Company Shareholders |  |
(Millions) |  | Total |  | Common Stock and Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Income (Loss) |  | Non- controlling Interest
Balance at June 30, 2020 |  | $ | 10,925 |  | $ | 6,083 |  | $ | 42,786 |  | $ | (29,699) |  |  | $ | (8,303) |  |  | $ | 58
Net income |  | 1,434 |  |  |  | 1,430 |  |  |  |  |  | 4 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustment |  | 271 |  |  |  |  |  |  |  | 270 |  | 1
Defined benefit pension and post-retirement plans adjustment |  | 116 |  |  |  |  |  |  |  | 116 |  | —
Cash flow hedging instruments |  | (71) |  |  |  |  |  |  |  |  | (71) |  |  | —
Total other comprehensive income (loss), net of tax |  | 316 |  |  |  |  |  |  |  |  |  |
Dividends declared |  | (847) |  |  |  |  | (847) |  |  |  |  |  |  |
Stock-based compensation |  | 42 |  | 42 |  |  |  |  |  |  |  |
Reacquired stock |  | (1) |  |  |  |  |  | (1) |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 90 |  |  |  | (40) |  |  | 130 |  |  |  |
Balance at September 30, 2020 |  | $ | 11,959 |  | $ | 6,125 |  | $ | 43,329 |  | $ | (29,570) |  |  | $ | (7,988) |  |  | $ | 63
Nine months ended September 30, 2020
|  |  |  | 3M Company Shareholders |  |
(Millions) |  | Total |  | Common Stock and Additional Paid-in Capital |  | Retained Earnings |  | Treasury Stock |  | Accumulated Other Comprehensive Income (Loss) |  | Non- controlling Interest
Balance at December 31, 2019 |  | $ | 10,126 |  | $ | 5,916 |  | $ | 42,130 |  | $ | (29,849) |  |  | $ | (8,134) |  |  | $ | 63
Net income |  | 4,047 |  |  |  | 4,044 |  |  |  |  |  | 3 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustment |  | (67) |  |  |  |  |  |  |  |  | (65) |  |  | (2) |
Defined benefit pension and post-retirement plans adjustment |  | 271 |  |  |  |  |  |  |  | 271 |  | —
Cash flow hedging instruments |  | (60) |  |  |  |  |  |  |  | (60) |  | —
Total other comprehensive income (loss), net of tax |  | 144 |  |  |  |  |  |  |  |  |  |  |
Dividends declared |  | (2,540) |  |  |  |  | (2,540) |  |  |  |  |  |  |
Purchase of subsidiary shares |  | (1) |  |  |  |  |  |  |  |  |  |  | (1) |
Stock-based compensation |  | 209 |  | 209 |  |  |  |  |  |  |  |
Reacquired stock |  | (357) |  |  |  |  |  |  | (357) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 331 |  |  |  | (305) |  |  | 636 |  |  |  |
Balance at September 30, 2020 |  | $ | 11,959 |  | $ | 6,125 |  | $ | 43,329 |  | $ | (29,570) |  |  | $ | (7,988) |  |  | $ | 63
Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component Three months ended September 30, 2021
(Millions) |  | Cumulative Translation Adjustment |  | Defined Benefit Pension and Postretirement Plans Adjustment |  | Cash Flow Hedging Instruments, Unrealized Gain (Loss) |  | Total Accumulated Other Comprehensive Income (Loss)
Balance at June 30, 2021, net of tax: |  | $ | (1,502) |  |  | $ | (5,858) |  |  | $ | (126) |  |  | $ | (7,486) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | (286) |  | — |  | 44 |  |  | (242)
Amounts reclassified out |  | — |  | 158 |  | 18 |  | 176
Total other comprehensive income (loss), before tax |  | (286) |  | 158 |  | 62 |  |  | (66)
Tax effect |  | (15) |  | (39) |  |  | (14) |  | (68) |
Total other comprehensive income (loss), net of tax |  | (301) |  | 119 |  | 48 |  |  | (134)
Balance at September 30, 2021, net of tax: |  | $ | (1,803) |  |  | $ | (5,739) |  |  | $ | (78) |  |  | $ | (7,620) |
Nine months ended September 30, 2021
(Millions) |  | Cumulative Translation Adjustment |  | Defined Benefit Pension and Postretirement Plans Adjustment |  | Cash Flow Hedging Instruments, Unrealized Gain (Loss) |  | Total Accumulated Other Comprehensive 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 |  | (303) |  |  | — |  | 84 |  | (219)
Amounts reclassified out |  | — |  | 477 |  | 39 |  | 516
Total other comprehensive income (loss), before tax |  | (303) |  |  | 477 |  | 123 |  | 297
Tax effect |  | (50) |  |  | (118) |  |  | (28) |  |  | (196) |
Total other comprehensive income (loss), net of tax |  | (353) |  |  | 359 |  | 95 |  | 101
Balance at September 30, 2021, net of tax: |  | $ | (1,803) |  |  | $ | (5,739) |  |  | $ | (78) |  |  | $ | (7,620) |
Three months ended September 30, 2020
(Millions) |  | Cumulative Translation Adjustment |  | Defined Benefit Pension and Postretirement Plans Adjustment |  | Cash Flow Hedging Instruments, Unrealized Gain (Loss) |  | Total Accumulated Other Comprehensive Income (Loss)
Balance at June 30, 2020, net of tax: |  | $ | (2,234) |  |  | $ | (6,049) |  |  | $ | (20) |  | $ | (8,303) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | 237 |  | — |  |  | (72) |  |  | 165
Amounts reclassified out |  | — |  | 149 |  | (21) |  |  | 128
Total other comprehensive income (loss), before tax |  | 237 |  | 149 |  | (93) |  |  | 293
Tax effect |  | 33 |  | (33) |  |  | 22 |  | 22 |
Total other comprehensive income (loss), net of tax |  | 270 |  | 116 |  | (71) |  |  | 315
Balance at September 30, 2020, net of tax: |  | $ | (1,964) |  |  | $ | (5,933) |  |  | $ | (91) |  |  | $ | (7,988) |
Nine months ended September 30, 2020
(Millions) |  | Cumulative Translation Adjustment |  | Defined Benefit Pension and Postretirement Plans Adjustment |  | Cash Flow Hedging Instruments, Unrealized Gain (Loss) |  | Total Accumulated Other Comprehensive 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 |  | (98) |  |  | (80) |  |  | (10) |  | (188) |
Amounts reclassified out |  | — |  | 446 |  | (68) |  |  | 378
Total other comprehensive income (loss), before tax |  | (98) |  |  | 366 |  | (78) |  | 190 |
Tax effect |  | 33 |  | (95) |  |  | 18 |  |  | (44) |
Total other comprehensive income (loss), net of tax |  | (65) |  |  | 271 |  | (60) |  | 146 |
Balance at September 30, 2020, net of tax |  | $ | (1,964) |  |  | $ | (5,933) |  |  | $ | (91) |  |  | $ | (7,988) |
Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation do include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are subsequently recorded as part of net income. Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M
Details about Accumulated Other Comprehensive Income Components |  | Amount Reclassified from Accumulated Other Comprehensive Income |  | Location on Income Statement
|  | Three months ended September 30, |  | Nine months ended September 30, |
(Millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
Defined benefit pension and postretirement plans adjustments |  |  |  |  |  |  |  |  |  |
Gains (losses) associated with defined benefit pension and postretirement plans amortization |  |  |  |  |  |  |  |  |  |
Transition asset |  | $ | (1) |  |  | $ | (1) |  | $ | (2) |  |  | $ | (2) |  |  | See Note 11
Prior service benefit |  | 15 |  | 15 |  | 45 |  | 46 |  | See Note 11
Net actuarial loss |  | (172) |  |  | (162) |  |  | (518) |  |  | (487) |  |  | See Note 11
Curtailments/Settlements |  | — |  |  | (1) |  |  | (2) |  |  | (3) |  |  | See Note 11
Total before tax |  | (158) |  |  | (149) |  |  | (477) |  |  | (446) |  |  |
Tax effect |  | 39 |  | 33 |  | 118 |  | 108 |  | Provision for income taxes
Net of tax |  | (119) |  |  | (116) |  |  | (359) |  |  | (338) |  |  |
Cash flow hedging instruments gains (losses) |  |  |  |  |  |  |  |  |  |
Foreign currency forward/option contracts |  | (15) |  |  | 23 |  | (32) |  |  | 74 |  | Cost of sales
Interest rate contracts |  | (3) |  |  | (2) |  |  | (7) |  |  | (6) |  |  | Interest expense
Total before tax |  | (18) |  |  | 21 |  | (39) |  |  | 68 |  |
Tax effect |  | 4 |  | (5) |  |  | 9 |  | (16) |  |  | Provision for income taxes
Net of tax |  | (14) |  |  | 16 |  | (30) |  |  | 52 |  |
Total reclassifications for the period, net of tax |  | $ | (133) |  |  | $ | (100) |  |  | $ | (389) |  |  | $ | (286) |  |  |

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