XML 64 R46.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Long-Term Debt and Short-Term Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | Long-term debt and short-term borrowings as of December 31 consisted of the following: Long-Term Debt:
(Millions) |  | Currency/ Fixed vs. Floating |  | Effective Interest Rate |  | Final Maturity Date |  | Carrying Value
Description / 2023 Principal Amount |  |  |  |  | 2023 |  | 2022
Registered note (repaid in 2023) |  | USD Fixed |  | — | % |  | 2023 |  | $ | — |  |  | $ | 500 |
Medium-term note (repaid in 2023) |  | USD Fixed |  | — | % |  | 2023 |  | — |  |  | 650 |
Medium-term note (repaid in 2023) |  | EUR Fixed |  | — | % |  | 2023 |  | — |  |  | 639 |
Medium-term note ($300 million) |  | USD Fixed |  | 3.30 | % |  | 2024 |  | 300 |  |  | 300 |
Medium-term note ($500 million) |  | USD Fixed |  | 2.98 | % |  | 2024 |  | 500 |  |  | 501 |
Medium-term note ($300 million) |  | USD Floating |  | 5.96 | % |  | 2024 |  | 300 |  |  | 300 |
Registered note ($750 million) |  | USD Fixed |  | 2.12 | % |  | 2025 |  | 748 |  |  | 747 |
Registered note ($500 million) |  | USD Fixed |  | 2.67 | % |  | 2025 |  | 499 |  |  | 499 |
Medium-term note ($550 million) |  | USD Fixed |  | 3.04 | % |  | 2025 |  | 549 |  |  | 549 |
Medium-term note ($650 million) |  | USD Fixed |  | 2.37 | % |  | 2026 |  | 647 |  |  | 646 |
Medium-term note (€750 million) |  | EUR Fixed |  | 1.65 | % |  | 2026 |  | 821 |  |  | 792 |
Floating rate note ($19 million) |  | USD Floating |  | 5.22 | % |  | 2027 |  | 18 |  |  | 18 |
Medium-term note ($850 million) |  | USD Fixed |  | 2.95 | % |  | 2027 |  | 846 |  |  | 845 |
30-year debenture ($220 million) |  | USD Fixed |  | 6.44 | % |  | 2028 |  | 223 |  |  | 223 |
Floating rate note ($150 million) |  | USD Floating |  | 8.08 | % |  | 2028 |  | 131 |  |  | 129 |
Floating rate note ($150 million) |  | USD Floating |  | 8.03 | % |  | 2028 |  | 132 |  |  | 129 |
Floating rate note ($250 million) |  | USD Floating |  | 7.62 | % |  | 2028 |  | 216 |  |  | 211 |
Floating rate note ($150 million) |  | USD Floating |  | 7.57 | % |  | 2028 |  | 130 |  |  | 127 |
Floating rate note ($100 million) |  | USD Floating |  | 7.66 | % |  | 2028 |  | 86 |  |  | 84 |
Medium-term note ($300 million) |  | USD Fixed |  | 3.62 | % |  | 2028 |  | 598 |  |  | 598 |
Medium-term note ($800 million) |  | USD Fixed |  | 3.38 | % |  | 2029 |  | 798 |  |  | 797 |
Registered note ($1 billion) |  | USD Fixed |  | 2.50 | % |  | 2029 |  | 991 |  |  | 989 |
Registered note ($600 million) |  | USD Fixed |  | 3.09 | % |  | 2030 |  | 597 |  |  | 596 |
Medium-term note (€500 million) |  | EUR Fixed |  | 1.90 | % |  | 2030 |  | 546 |  |  | 526 |
Medium-term note (€500 million) |  | EUR Fixed |  | 1.54 | % |  | 2031 |  | 549 |  |  | 530 |
30-year bond ($555 million) |  | USD Fixed |  | 5.73 | % |  | 2037 |  | 552 |  |  | 552 |
Floating rate note ($52 million) |  | USD Floating |  | 5.31 | % |  | 2040 |  | 52 |  |  | 52 |
Floating rate note ($95 million) |  | USD Floating |  | 5.31 | % |  | 2041 |  | 94 |  |  | 96 |
Medium-term note ($325 million) |  | USD Fixed |  | 4.05 | % |  | 2044 |  | 316 |  |  | 315 |
Floating rate note ($53 million) |  | USD Floating |  | 5.31 | % |  | 2044 |  | 53 |  |  | 53 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.37 | % |  | 2046 |  | 479 |  |  | 478 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.68 | % |  | 2047 |  | 493 |  |  | 492 |
Medium-term note ($650 million) |  | USD Fixed |  | 4.07 | % |  | 2048 |  | 639 |  |  | 638 |
Medium-term note ($500 million) |  | USD Fixed |  | 3.78 | % |  | 2048 |  | 504 |  |  | 504 |
Registered note ($500 million) |  | USD Fixed |  | 3.37 | % |  | 2049 |  | 486 |  |  | 486 |
Registered note ($350 million) |  | USD Fixed |  | 3.72 | % |  | 2050 |  | 346 |  |  | 346 |
Other borrowings |  | Various |  | 0.11 | % |  | 2024-2029 |  | 1 |  |  | 2 |
Total long-term debt |  |  |  |  |  |  |  | 14,240 |  |  | 15,939 |
Less: current portion of long-term debt |  |  |  |  |  |  |  | 1,152 |  |  | 1,938 |
Long-term debt (excluding current portion) |  |  |  |  |  |  |  | $ | 13,088 |  |  | $ | 14,001 |
Schedule of Post Swap Borrowing Total Long Term Debt by Fixed or Floating Rate | Post-Swap Borrowing (Long-Term Debt, Including Current Portion):
|  | 2023 |  | 2022
(Millions) |  | Carrying Value |  | Effective Interest Rate |  | Carrying Value |  | Effective Interest Rate
Fixed-rate debt |  | $ | 13,027 |  |  | 3.09 | % |  | $ | 14,738 |  |  | 2.93 | %
Floating-rate debt |  | 1,213 |  |  | 6.88 | % |  | 1,201 |  |  | 5.70 | %
Total long-term debt, including current portion |  | $ | 14,240 |  |  |  |  | $ | 15,939 |  |  |
Schedule of Short-Term Debt | Short-Term Borrowings and Current Portion of Long-Term Debt:
|  | Effective Interest Rate |  | Carrying Value
(Millions) |  |  | 2023 |  | 2022
Current portion of long-term debt |  | 3.94 | % |  | $ | 1,152 |  |  | $ | 1,938 |
U.S. dollar commercial paper |  | 5.65 | % |  | 1,795 |  |  | — |
Total short-term borrowings and current portion of long-term debt |  |  |  | $ | 2,947 |  |  | $ | 1,938 |
Schedule of Maturities of Long-Term Debt | The maturities of long-term debt for the periods subsequent to December 31, 2023 are as follows (in millions):
|  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | After 2028 |  | Total
|  | $ | 1,152 |  | $ | 1,867 |  | $ | 1,563 |  | $ | 846 |  | $ | 818 |  | $ | 7,994 |  | $ | 14,240

X
- Definition A table or schedule of all post-swap long-term debt, including current portion, of all Fixed and Floating Rate debt's carrying value and effective interest rate. + References No definition available. + Details
Name: | mmm_PostSwapBorrowingTotalLongTermDebtByFixedOrFloatingRateTableTextBlock
Namespace Prefix: | mmm_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration