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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024 and 2023.

						Fair Value at												Fair Value Measurements Using Inputs Considered as
																		Level 1												Level 2												Level 3
(Millions)						2024						2023						2024						2023						2024						2023						2024						2023
Description
Assets:
Available-for-sale:
Marketable securities:
Asset backed securities						$	24					$	—					$	—					$	—					$	24					$	—					$	—					$	—
Foreign corporate debt						31						—						—						—						31						—						—						—
U.S. government securities						138						—						138						—						—						—						—						—
Corporate debt securities						819						—						—						—						819						—						—						—
Commercial paper						658						—						—						—						658						—						—						—
Certificates of deposit/time deposits						185						46						—						—						185						46						—						—
U.S. treasury securities						269						—						269						—						—						—						—						—
U.S. municipal securities						20						24						—						—						—						—						20						24
Solventum common stock						2,270						—						2,270						—						—						—						—						—
Derivative instruments — assets:
Foreign currency forward/option contracts						142						84						—						—						142						84						—						—
Liabilities:
Derivative instruments — liabilities:
Foreign currency forward/option contracts						84						39						—						—						84						39						—						—
Interest rate contracts						81						88						—						—						81						88						—						—

Schedule of Fair Value, by Balance Sheet Grouping

Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:

						December 31, 2024												December 31, 2023
(Millions)						Carrying Value						Fair Value						Carrying Value						Fair Value
Long-term debt, excluding current portion						$	11,125					$	9,856					$	13,088					$	11,859

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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X

- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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