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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | Income (loss) before income taxes consisted of the following:
(Millions) |  | 2023 |  | 2022 |  | 2021
United States |  | $ | (12,091) |  |  | $ | 3,861 |  |  | $ | 3,716 |
International |  | 2,403 |  |  | 2,531 |  |  | 3,488 |
Total |  | $ | (9,688) |  |  | $ | 6,392 |  |  | $ | 7,204 |
Schedule of Provision for Income Taxes | Provision (benefit) for income taxes consisted of the following:
(Millions) |  | 2023 |  | 2022 |  | 2021
Currently payable |  |  |  |  |  |
Federal |  | $ | 376 |  |  | $ | 606 |  |  | $ | 756 |
State |  | 78 |  |  | 76 |  |  | 104 |
International |  | 679 |  |  | 621 |  |  | 597 |
Deferred |  |  |  |  |  |
Federal |  | (3,074) |  |  | (612) |  |  | (219) |
State |  | (504) |  |  | (76) |  |  | (25) |
International |  | (246) |  |  | (2) |  |  | 72 |
Total |  | $ | (2,691) |  |  | $ | 612 |  |  | $ | 1,285 |
Schedule of Components of Deferred Tax Assets and Liabilities | Components of deferred tax assets and (liabilities) are comprised of the following:
(Millions) |  | 2023 |  | 2022
Deferred tax assets: |  |  |  |
Accruals not currently deductible |  |  |  |
Employee benefit costs |  | $ | 235 |  |  | $ | 232 |
Product and other claims |  | 3,989 |  |  | 610 |
Miscellaneous accruals |  | 160 |  |  | 117 |
Stock-based compensation |  | 275 |  |  | 259 |
Advanced payments |  | 76 |  |  | 173 |
Net operating/capital loss/state tax credit carryforwards |  | 147 |  |  | 120 |
Foreign tax credits |  | 164 |  |  | 112 |
Research and experimentation capitalization |  | 657 |  |  | 418 |
Lease liabilities |  | 192 |  |  | 210 |
Other |  | 157 |  |  | 102 |
Gross deferred tax assets |  | 6,052 |  |  | 2,353 |
Valuation allowance |  | (706) |  |  | (115) |
Total deferred tax assets |  | 5,346 |  |  | 2,238 |
Deferred tax liabilities: |  |  |  |
Accelerated depreciation |  | (535) |  |  | (586) |
Intangible assets |  | (226) |  |  | (901) |
Right-of-use asset |  | (194) |  |  | (210) |
Other |  | — |  |  | (141) |
Total deferred tax liabilities |  | (955) |  |  | (1,838) |
Net deferred tax assets |  | $ | 4,391 |  |  | $ | 400 |
Schedule of Reconciliation of Effective Income Tax Rate | A reconciliation of the U.S. federal statutory income tax rate to 3M's worldwide effective income tax rate is provided below: Note: A positive rate reconciliation percent for the year ended 2023 is a tax benefit on a pretax loss.
|  | 2023 |  | 2022 |  | 2021
Statutory U.S. tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Food Safety divestiture |  |  |  | (8.4) |  |  | — |
State income taxes - net of federal benefit |  | 3.5 |  |  | — |  |  | 0.9 |
International income taxes - net |  | 0.7 |  |  | (0.4) |  |  | (1.2) |
Global Intangible Low Taxed Income (GILTI) |  | (0.4) |  |  | 0.7 |  |  | 0.7 |
Foreign Derived Intangible Income (FDII) |  | 1.1 |  |  | (2.3) |  |  | (3.1) |
U.S. research and development credit |  | 0.6 |  |  | (1.0) |  |  | (0.7) |
Reserves for tax contingencies |  | 0.5 |  |  | — |  |  | 0.6 |
Employee share-based payments |  |  |  | (0.2) |  |  | (0.6) |
All other - net |  | 0.8 |  |  | 0.2 |  |  | 0.2 |
Effective worldwide tax rate |  | 27.8 | % |  | 9.6 | % |  | 17.8 | %
Schedule of Reconciliation of Federal, State and Foreign Tax Gross Unrecognized Tax Benefits |
(Millions) |  | 2023 |  | 2022 |  | 2021
Gross UTB Balance at January 1 |  | $ | 927 |  |  | $ | 1,071 |  |  | $ | 1,113 |
Additions based on tax positions related to the current year |  | 11 |  |  | 115 |  |  | 91 |
Additions for tax positions of prior years |  | 63 |  |  | 36 |  |  | 22 |
Reductions for tax positions of prior years |  | (53) |  |  | (138) |  |  | (60) |
Settlements |  | (34) |  |  | (118) |  |  | (57) |
Reductions due to lapse of applicable statute of limitations |  | (114) |  |  | (39) |  |  | (38) |
Gross UTB Balance at December 31 |  | $ | 800 |  |  | $ | 927 |  |  | $ | 1,071 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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