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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)202420232022
Operating lease cost$210 $259 $281 
Variable lease cost114 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 Sheet20242023
Right of use assetsOperating lease right of use assets$565 $657 
Current liabilityOperating lease liabilities - current163 192 
Noncurrent liabilityOperating lease liabilities405 464 
Weighted average remaining lease term (in years):5.35.6
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)202420232022
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 
2026132 
202791 
202863 
202940 
After 2029
106 
Total expected lease payments613 
Less: Amounts representing interest(45)
Present value of future minimum lease payments568 
Less: Current obligations163 
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)202420232022
Operating lease cost$210 $259 $281 
Variable lease cost114 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 Sheet20242023
Right of use assetsOperating lease right of use assets$565 $657 
Current liabilityOperating lease liabilities - current163 192 
Noncurrent liabilityOperating lease liabilities405 464 
Weighted average remaining lease term (in years):5.35.6
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)202420232022
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 
2026132 
202791 
202863 
202940 
After 2029
106 
Total expected lease payments613 
Less: Amounts representing interest(45)
Present value of future minimum lease payments568 
Less: Current obligations163 
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.