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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes | Income (loss) from continuing operations before income taxes consisted of the following:
(Millions) |  | 2024 |  | 2023 |  | 2022
United States |  | $ | 2,300 |  |  | $ | (13,272) |  |  | $ | 2,173 |
International |  | 2,519 |  |  | 2,001 |  |  | 2,031 |
Total |  | $ | 4,819 |  |  | $ | (11,271) |  |  | $ | 4,204 |
Schedule of Provision (Benefit) for Income Taxes | Provision (benefit) for income taxes consisted of the following:
(Millions) |  | 2024 |  | 2023 |  | 2022
Currently payable |  |  |  |  |  |
Federal |  | $ | (75) |  |  | $ | 302 |  |  | $ | 295 |
State |  | (6) |  |  | 38 |  |  | 55 |
International |  | 583 |  |  | 494 |  |  | 503 |
Deferred |  |  |  |  |  |
Federal |  | 328 |  |  | (3,084) |  |  | (593) |
State |  | 1 |  |  | (495) |  |  | (76) |
International |  | (27) |  |  | (122) |  |  | 4 |
Total |  | $ | 804 |  |  | $ | (2,867) |  |  | $ | 188 |
Schedule of Components of Deferred Tax Assets and Liabilities | Components of deferred tax assets and (liabilities) are comprised of the following:
(Millions) |  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Employee benefit costs |  | $ | 241 |  |  | $ | 202 |
Product and other claims |  | 3,154 |  |  | 3,977 |
Investments |  | 333 |  |  | — |
Miscellaneous accruals |  | 143 |  |  | 116 |
Stock-based compensation |  | 267 |  |  | 249 |
Advanced payments |  | 14 |  |  | 76 |
Net operating/capital loss/tax credit carryforwards |  | 130 |  |  | 91 |
Foreign tax credits |  | 143 |  |  | 117 |
Research and experimentation capitalization |  | 720 |  |  | 595 |
Lease liabilities |  | 150 |  |  | 176 |
Intangible amortization |  | 104 |  |  | 99 |
Other |  | 56 |  |  | 55 |
Gross deferred tax assets |  | 5,455 |  |  | 5,753 |
Valuation allowance |  | (1,061) |  |  | (689) |
Total deferred tax assets |  | 4,394 |  |  | 5,064 |
Deferred tax liabilities: |  |  |  |
Accelerated depreciation |  | (263) |  |  | (422) |
Right-of-use asset |  | (151) |  |  | (178) |
Other |  | (188) |  |  | — |
Total deferred tax liabilities |  | (602) |  |  | (600) |
Net deferred tax assets |  | $ | 3,792 |  |  | $ | 4,464 |
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.
|  | 2024 |  | 2023 |  | 2022
Statutory U.S. tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Food Safety divestiture |  | — |  |  | — |  |  | (12.8) |
State income taxes - net of federal benefit |  | 0.6 |  |  | 3.2 |  |  | (0.5) |
International income taxes - net 3 |  | 2.1 |  |  | 0.6 |  |  | (0.2) |
Global Intangible Low Taxed Income (GILTI) |  | 0.6 |  |  | (0.3) |  |  | 0.9 |
Foreign Derived Intangible Income (FDII) |  | (0.3) |  |  | 0.6 |  |  | (2.2) |
U.S. research and development credit |  | (0.7) |  |  | 0.4 |  |  | (0.9) |
Reserves for tax contingencies |  | 0.6 |  |  | (0.4) |  |  | (0.1) |
Employee share-based payments |  | 0.4 |  |  | — |  |  | (0.3) |
Change in valuation allowance on Solventum ownership |  | (7.7) |  |  | — |  |  | — |
All other - net |  | 0.1 |  |  | 0.3 |  |  | (0.4) |
Effective worldwide tax rate |  | 16.7 | % |  | 25.4 | % |  | 4.5 | %
3 International income taxes includes tax expense associated with international earnings no longer considered permanently reinvested.
Schedule of Reconciliation of Federal, State and Foreign Tax Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (UTB) is as follows:
(Millions) |  | 2024 |  | 2023 |  | 2022
Gross UTB Balance at January 1 |  | $ | 590 |  |  | $ | 632 |  |  | $ | 770 |
Additions based on tax positions related to the current year |  | 13 |  |  | 11 |  |  | 114 |
Additions for tax positions of prior years |  | 57 |  |  | 63 |  |  | 36 |
Reductions for tax positions of prior years |  | (16) |  |  | (42) |  |  | (132) |
Settlements |  | (17) |  |  | (33) |  |  | (118) |
Reductions due to lapse of applicable statute of limitations |  | (36) |  |  | (42) |  |  | (32) |
Foreign currency translation |  | (17) |  |  | 1 |  |  | (6) |
Gross UTB Balance at December 31 |  | $ | 574 |  |  | $ | 590 |  |  | $ | 632 |

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