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Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | NOTE 20. Leases 3M's lease arrangements include both operating and finance leases. Amounts associated with finance leases (such as right-of-use assets, liabilities, costs, cash flow information, and maturities) were not material to the consolidated financial statements. Finance lease right-of-use assets are included in property, plant, and equipment, net, and finance lease liabilities are included in other current liabilities and other liabilities on the consolidated balance sheets. The following table summarizes the components of operating lease cost:
(Millions) |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 210 |  |  | $ | 259 |  |  | $ | 281 |
Variable lease cost |  | 114 |  |  | 103 |  |  | 101 |
Total operating lease cost |  | $ | 324 |  |  | $ | 362 |  |  | $ | 382 |
Short-term lease cost and income related to sub-lease activity is immaterial for the Company. Supplemental balance sheet, lease term and discount rate information related to operating leases is as follows:
|  |  |  | December 31,
(Millions unless noted) |  | Location on face of Balance Sheet |  | 2024 |  | 2023
Right of use assets |  | Operating lease right of use assets |  | $ | 565 |  |  | $ | 657 |
Current liability |  | Operating lease liabilities - current |  | 163 |  |  | 192 |
Noncurrent liability |  | Operating lease liabilities |  | 405 |  |  | 464 |
Weighted average remaining lease term (in years): |  | 5.3 |  | 5.6
Weighted average discount rate: |  | 3.5 | % |  | 3.0 | %
The consolidated statements of cash flows include the results of continuing and discontinued operations. Supplemental cash flow information related to operating lease is as follows:
(Millions) |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  | $ | 212 |  |  | $ | 260 |  |  | $ | 281 |
Right of use assets obtained in exchange for operating lease liabilities: |  | 196 |  |  | 262 |  |  | 251 |
Sale leased-back activity for the periods presented was not material. Maturities of operating leases as of December 31, 2024 are as follows:
(Millions) |  |  |  |
2025 |  |  |  | $ | 181 |
2026 |  |  |  | 132 |
2027 |  |  |  | 91 |
2028 |  |  |  | 63 |
2029 |  |  |  | 40 |
After 2029 |  |  |  | 106 |
Total expected lease payments |  |  |  | 613 |
Less: Amounts representing interest |  |  |  | (45) |
Present value of future minimum lease payments |  |  |  | 568 |
Less: Current obligations |  |  |  | 163 |
Long-term obligations |  |  |  | $ | 405 |
As of December 31, 2024, the Company has an immaterial amount of additional operating lease commitments that have not yet commenced. These commitments pertain to 3M’s right of use of certain buildings.
Leases | NOTE 20. Leases 3M's lease arrangements include both operating and finance leases. Amounts associated with finance leases (such as right-of-use assets, liabilities, costs, cash flow information, and maturities) were not material to the consolidated financial statements. Finance lease right-of-use assets are included in property, plant, and equipment, net, and finance lease liabilities are included in other current liabilities and other liabilities on the consolidated balance sheets. The following table summarizes the components of operating lease cost:
(Millions) |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 210 |  |  | $ | 259 |  |  | $ | 281 |
Variable lease cost |  | 114 |  |  | 103 |  |  | 101 |
Total operating lease cost |  | $ | 324 |  |  | $ | 362 |  |  | $ | 382 |
Short-term lease cost and income related to sub-lease activity is immaterial for the Company. Supplemental balance sheet, lease term and discount rate information related to operating leases is as follows:
|  |  |  | December 31,
(Millions unless noted) |  | Location on face of Balance Sheet |  | 2024 |  | 2023
Right of use assets |  | Operating lease right of use assets |  | $ | 565 |  |  | $ | 657 |
Current liability |  | Operating lease liabilities - current |  | 163 |  |  | 192 |
Noncurrent liability |  | Operating lease liabilities |  | 405 |  |  | 464 |
Weighted average remaining lease term (in years): |  | 5.3 |  | 5.6
Weighted average discount rate: |  | 3.5 | % |  | 3.0 | %
The consolidated statements of cash flows include the results of continuing and discontinued operations. Supplemental cash flow information related to operating lease is as follows:
(Millions) |  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  | $ | 212 |  |  | $ | 260 |  |  | $ | 281 |
Right of use assets obtained in exchange for operating lease liabilities: |  | 196 |  |  | 262 |  |  | 251 |
Sale leased-back activity for the periods presented was not material. Maturities of operating leases as of December 31, 2024 are as follows:
(Millions) |  |  |  |
2025 |  |  |  | $ | 181 |
2026 |  |  |  | 132 |
2027 |  |  |  | 91 |
2028 |  |  |  | 63 |
2029 |  |  |  | 40 |
After 2029 |  |  |  | 106 |
Total expected lease payments |  |  |  | 613 |
Less: Amounts representing interest |  |  |  | (45) |
Present value of future minimum lease payments |  |  |  | 568 |
Less: Current obligations |  |  |  | 163 |
Long-term obligations |  |  |  | $ | 405 |
As of December 31, 2024, the Company has an immaterial amount of additional operating lease commitments that have not yet commenced. These commitments pertain to 3M’s right of use of certain buildings.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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