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Significant Accounting Policies | 9 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
Significant Accounting Policies | NOTE 1. Significant Accounting Policies Basis of Presentation The interim consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. These adjustments consist of normal, recurring items. The results of operations for any interim period are not necessarily indicative of results for the full year. The interim consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and notes included in its Annual Report on Form 10-K. In the second quarter of 2023, 3M re-consolidated the Aearo Technology and certain of its related entities (collectively, the "Aearo Entities") as a result of the court dismissal of their voluntary bankruptcy proceedings. 3M had previously deconsolidated these entities in the third quarter of 2022. See additional information in Note 14. Effective in the first quarter of 2023, 3M made changes in the measure of segment operating performance and segment composition used by 3M’s chief operating decision maker—impacting 3M’s disclosed measure of segment profit/loss (business segment operating income (loss)). Also effective in the first quarter of 2023, 3M's Consumer business segment re-aligned from four divisions to three divisions, see additional information in Note 15. 3M's disclosed disaggregated revenue was also updated as a result of these changes, see additional information in Note 2. Information provided herein reflects the impact of these changes for all periods presented. Earnings (Loss) Per Share The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is a result of the dilution associated with the Company’s stock-based compensation plans. Certain options outstanding under these stock-based compensation plans were not included in the computation of diluted earnings (loss) per share attributable to 3M common shareholders because they would have had an anti-dilutive effect of 35.6 million and 36.0 million average options for the three and nine months ended September 30, 2023, respectively, and 31.7 million and 28.9 million average options for the three and nine months ended September 30, 2022, respectively. In periods of net losses, these anti-dilutive effects include all weighted option shares outstanding and weighted average shares is the same for the calculations of both basic and diluted loss per share. The computations for basic and diluted earnings (loss) per share follow: Earnings (Loss) Per Share Computations
|  | Three months ended September 30, |  | Nine months ended September 30, |
(Amounts in millions, except per share amounts) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to 3M |  | $ | (2,075) |  |  | $ | 3,859 |  |  | $ | (7,940) |  |  | $ | 5,236 |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for weighted average 3M common shares outstanding – basic |  | 554.3 |  |  | 568.8 |  |  | 553.7 |  |  | 570.7 |  |  |  |  |  |
Dilution associated with the Company’s stock-based compensation plans |  | — |  |  | 1.2 |  |  | — |  |  | 1.9 |  |  |  |  |  |
Denominator for weighted average 3M common shares outstanding – diluted |  | 554.3 |  |  | 570.0 |  |  | 553.7 |  |  | 572.6 |  |  |  |  |  |
Earnings (loss) per share attributable to 3M common shareholders — basic |  | $ | (3.74) |  |  | $ | 6.79 |  |  | $ | (14.34) |  |  | $ | 9.18 |  |  |  |  |  |
Earnings (loss) per share attributable to 3M common shareholders — diluted |  | $ | (3.74) |  |  | $ | 6.77 |  |  | $ | (14.34) |  |  | $ | 9.15 |  |  |  |  |  |
Supplier Finance Program Obligations Under supplier finance programs, 3M agrees to pay participating banks the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices, generally within 90 days of the invoice date. 3M or the banks may terminate the agreements with advance notice. Separately, the banks may have arrangements with the suppliers that provide them the option to request early payment from the banks for invoices confirmed by 3M. 3M's outstanding balances of confirmed invoices in the programs as of September 30, 2023 and December 31, 2022 were approximately $320 million and $260 million, respectively. These amounts are included within accounts payable on 3M's consolidated balance sheet. New Accounting Pronouncements Refer to Note 1 to the Consolidated Financial Statements in 3M’s 2022 Annual Report on Form 10-K for a discussion of applicable standards issued and not yet adopted by 3M.

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- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//235/tableOfContent + Details
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