XML 37 R19.htm IDEA: XBRL DOCUMENT v3.25.0.1
Supplemental Equity and Comprehensive Income (Loss) Information
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Supplemental Equity and Comprehensive Income (Loss) Information
NOTE 9. Supplemental Equity and Comprehensive Income (Loss) Information
Common stock ($.01 par value per share) of 3 billion shares is authorized, with 944,033,056 shares issued as of December 31, 2024, 2023 and 2022. Preferred stock, without par value, of 10 million shares is authorized but unissued.
Cash dividends declared and paid totaled $1.51 per share for the first quarter of 2024 and $0.70 per share for each of the second, third, and fourth quarters of 2024. Cash dividends declared and paid totaled $1.50 and $1.49 per share for each quarter in 2023 and 2022, respectively. Full year declared and paid dividends total $3.61, $6.00, and $5.96 per share for 2024, 2023 and 2022, respectively.
The table below presents the changes in accumulated other comprehensive income (loss) attributable to 3M (AOCI), including the reclassifications out of AOCI by component for the year ended December 31, 2024 and 2023:
(Millions)Cumulative Translation AdjustmentDefined Benefit Pension and Postretirement Plans AdjustmentCash Flow Hedging Instruments, Unrealized Gain (Loss)Total Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021, net of tax:
$(1,943)$(4,753)$(54)$(6,750)
Other comprehensive income (loss), before tax:
Amounts before reclassifications(850)866 159 175 
Amounts reclassified out— 458 (98)360 
Total other comprehensive income (loss), before tax(850)1,324 61 535 
Tax effect2
(35)(409)(14)(458)
Total other comprehensive income (loss), net of tax(885)915 47 77 
Balance at December 31, 2022, net of tax:
(2,828)(3,838)(7)(6,673)
Other comprehensive income (loss), before tax:
Amounts before reclassifications277(763)81 (405)
Amounts reclassified out54 252 (143)163 
Total other comprehensive income (loss), before tax331(511)(62)(242)
Tax effect2
(9)131 15137 
Total other comprehensive income (loss), net of tax322(380)(47)(105)
Balance at December 31, 2023, net of tax:
(2,506)(4,218)(54)(6,778)
Other comprehensive income (loss), before tax:
Amounts before reclassifications(563)123 128 (312)
Amounts reclassified out38 1,127 (78)1,087 
Total other comprehensive income (loss), before tax(525)1,250 50 775 
Tax effect2
14(315)(11)(312)
Total other comprehensive income (loss), net of tax(511)935 39 463 
Solventum spin-off64 520 — 584 
Balance at December 31, 2024, net of tax:
$(2,953)$(2,763)$(15)$(5,731)
Includes tax expense (benefit) reclassified out of AOCI related to the following:
(millions)202420232022
Cumulative Translation Adjustment
$— $— $— 
Defined benefit pension and postretirement plans adjustment(268)(60)(108)
Cash flow hedging instruments, unrealized gain/loss18 33 23 
Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation do include impacts from items such as net investment hedge transactions. The Company uses the portfolio approach for releasing income tax effects from accumulated other comprehensive income.
Additional details on the amounts reclassified from accumulated other comprehensive income (loss) into consolidated income (loss) include:
•Cumulative translation adjustment: amounts were reclassified into selling, general and administrative expense. In 2023 and 2024, this was associated with country exits as part of streamlining 3M’s geographic footprint (see Note 6). In 2023, this was also associated with the Russia exit (see Note 18).
•Defined benefit pension and postretirement plan adjustments: amounts were reclassified into other (expense) income, net (see Note 15).
•Cash flow hedging instruments, unrealized gain (loss): foreign currency forward/option contacts amounts were reclassified into cost of sales; interest rate contract amounts were reclassified into interest expense (see Note 17).
•The tax effects, if applicable, associated with these reclassifications were reflected in provision for income taxes.