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Supplemental Equity and Comprehensive Income Information | 6 Months Ended
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Jun. 30, 2025
Stockholders' Equity Note [Abstract] |
Supplemental Equity and Comprehensive Income Information | Note 8. Supplemental Equity and Comprehensive Income Information Cash dividends declared and paid totaled $0.73 per share for each of the first and second quarters of 2025 and $1.51 and $0.70 per share for the first and second quarters of 2024, respectively, or $1.46 and $2.21 per share for the first six months of 2025 and 2024, respectively. The table below presents the consolidated changes in equity for three and six months ended June 30, 2025 and 2024:
|  |  |  | 3M Company Shareholders |  | Non-controlling interest
(Millions) |  | Total |  | Common stock and additional paid-in capital |  | Retained earnings |  | Treasury stock |  | Accumulated other comprehensive income (loss) |
Balance at March 31, 2025 |  | $ | 4,523 |  |  | $ | 7,310 |  | $ | 37,432 |  | $ | (34,747) |  |  | $ | (5,531) |  |  | $ | 59 |
Net income |  | 725 |  |  |  |  | 723 |  |  |  |  |  |  | 2 |
Other comprehensive income (loss), net of tax |  | 305 |  |  |  |  |  |  |  |  | 305 |  |  | — |
Solventum spin-off |  | (3) |  |  |  |  | (14) |  |  |  |  | 11 |  |  |
Dividends declared |  | (390) |  |  |  |  | (390) |  |  |  |  |  |  |
Purchase of non-controlling interest |  | — |  | — |  |  |  |  |  |  |  |  | — |
Stock-based compensation |  | 44 |  |  | 44 |  |  |  |  |  |  |  |  |
Reacquired stock |  | (946) |  |  |  |  |  |  | (946) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 93 |  |  |  |  | (58) |  |  | 151 |  |  |  |  |
Balance at June 30, 2025 |  | $ | 4,351 |  |  | $ | 7,354 |  |  | $ | 37,693 |  |  | $ | (35,542) |  |  | $ | (5,215) |  |  | $ | 61 |
Balance at March 31, 2024 |  | $ | 4,933 |  |  | $ | 6,982 |  |  | $ | 37,472 |  |  | $ | (32,762) |  |  | $ | (6,826) |  |  | $ | 67 |
Net income |  | 1,151 |  |  |  |  | 1,145 |  |  |  |  |  |  | 6 |
Other comprehensive income (loss), net of tax |  | 674 |  |  |  |  |  |  |  |  | 675 |  |  | (1) |
Solventum spin-off |  | (2,169) |  |  |  |  | (2,753) |  |  |  |  | 584 |  |  |
Dividends declared |  | (386) |  |  |  |  | (386) |  |  |  |  |  |  |
Stock-based compensation |  | 173 |  |  | 173 |  |  |  |  |  |  |  |  |
Reacquired stock |  | (400) |  |  |  |  |  |  | (400) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 12 |  |  |  |  | (3) |  |  | 15 |  |  |  |  |
Balance at June 30, 2024 |  | $ | 3,988 |  |  | $ | 7,155 |  |  | $ | 35,475 |  |  | $ | (33,147) |  |  | $ | (5,567) |  |  | $ | 72 |
Balance at December 31, 2024 |  | $ | 3,894 |  |  | $ | 7,238 |  |  | $ | 36,797 |  |  | $ | (34,462) |  |  | $ | (5,731) |  |  | $ | 52 |
Net income |  | 1,847 |  |  |  |  | 1,839 |  |  |  |  |  |  | 8 |
Other comprehensive income (loss), net of tax |  | 505 |  |  |  |  |  |  |  |  | 505 |  |  |
Solventum spin-off |  | (3) |  |  |  |  | (14) |  |  |  |  | 11 |  |  |
Dividends declared |  | (786) |  |  |  |  | (786) |  |  |  |  |  |  |
Purchase of non-controlling interest |  | 1 |  |  | — |  |  |  |  |  |  |  |  | 1 |
Stock-based compensation |  | 116 |  |  | 116 |  |  |  |  |  |  |  |  |
Reacquired stock |  | (2,221) |  |  |  |  |  |  | (2,221) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 998 |  |  |  |  | (143) |  |  | 1,141 |  |  |  |  |
Balance at June 30, 2025 |  | $ | 4,351 |  |  | $ | 7,354 |  |  | $ | 37,693 |  |  | $ | (35,542) |  |  | $ | (5,215) |  |  | $ | 61 |
Balance at December 31, 2023 |  | $ | 4,868 |  |  | $ | 6,965 |  |  | $ | 37,479 |  |  | $ | (32,859) |  |  | $ | (6,778) |  |  | $ | 61 |
Net income |  | 2,084 |  |  |  |  | 2,073 |  |  |  |  |  |  | 11 |
Other comprehensive income (loss), net of tax |  | 627 |  |  |  |  |  |  |  |  | 627 |  |  | — |
Solventum spin-off |  | (2,169) |  |  |  |  | (2,753) |  |  |  |  | 584 |  |  |
Dividends declared |  | (1,221) |  |  |  |  | (1,221) |  |  |  |  |  |  |
Stock-based compensation |  | 190 |  |  | 190 |  |  |  |  |  |  |  |  |
Reacquired stock |  | (421) |  |  |  |  |  |  | (421) |  |  |  |  |
Issuances pursuant to stock option and benefit plans |  | 30 |  |  |  |  | (103) |  |  | 133 |  |  |  |  |
Balance at June 30, 2024 |  | $ | 3,988 |  |  | $ | 7,155 |  |  | $ | 35,475 |  |  | $ | (33,147) |  |  | $ | (5,567) |  |  | $ | 72 |
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 three and six months ended June 30, 2025 and 2024:
(Millions) |  | Cumulative translation adjustment |  | Defined benefit pension and postretirement plans adjustment |  | Cash flow hedging instruments, unrealized gain (loss) |  | Total accumulated other comprehensive income (loss)
Balance at March 31, 2025, net of tax: |  | $ | (2,782) |  |  | $ | (2,705) |  |  | $ | (44) |  |  | $ | (5,531) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | 287 |  |  | (7) |  |  | (91) |  |  | 189 |
Amounts reclassified out |  | — |  |  | 71 |  |  | (14) |  | 57 |
Total other comprehensive income (loss), before tax |  | 287 |  |  | 64 |  |  | (105) |  |  | 246 |
Tax effect 5 |  | 52 |  |  | (15) |  |  | 22 |  |  | 59 |
Total other comprehensive income (loss), net of tax |  | 339 |  |  | 49 |  |  | (83) |  |  | 305 |
Solventum spin-off |  | — |  |  | 11 |  |  | — |  |  | 11 |
Balance at June 30, 2025, net of tax: |  | $ | (2,443) |  |  | $ | (2,645) |  |  | $ | (127) |  |  | $ | (5,215) |
Balance at March 31, 2024, net of tax: |  | $ | (2,715) |  |  | $ | (4,083) |  |  | $ | (28) |  |  | $ | (6,826) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | (148) |  |  | 218 |  |  | 23 |  |  | 93 |
Amounts reclassified out |  | 11 |  |  | 876 |  |  | (30) |  |  | 857 |
Total other comprehensive income (loss), before tax |  | (137) |  |  | 1,094 |  |  | (7) |  |  | 950 |
Tax effect 2 |  | (7) |  |  | (268) |  |  | — |  |  | (275) |
Total other comprehensive income (loss), net of tax |  | (144) |  |  | 826 |  |  | (7) |  |  | 675 |
Solventum spin-off |  | 64 |  |  | 520 |  |  | — |  |  | 584 |
Balance at June 30, 2024, net of tax: |  | $ | (2,795) |  |  | $ | (2,737) |  |  | $ | (35) |  |  | $ | (5,567) |
Balance at December 31, 2024, net of tax: |  | $ | (2,953) |  |  | $ | (2,763) |  |  | $ | (15) |  |  | $ | (5,731) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | 436 |  |  | (7) |  |  | (105) |  |  | 324 |
Amounts reclassified out |  | — |  |  | 147 |  |  | (37) |  |  | 110 |
Total other comprehensive income (loss), before tax |  | 436 |  |  | 140 |  |  | (142) |  |  | 434 |
Tax effect 5 |  | 74 |  |  | (33) |  |  | 30 |  |  | 71 |
Total other comprehensive income (loss), net of tax |  | 510 |  |  | 107 |  |  | (112) |  |  | 505 |
Solventum spin-off |  | — |  |  | 11 |  |  | — |  |  | 11 |
Balance at June 30, 2025, net of tax: |  | $ | (2,443) |  |  | $ | (2,645) |  |  | $ | (127) |  |  | $ | (5,215) |
Balance at December 31, 2023, net of tax: |  | $ | (2,506) |  |  | $ | (4,218) |  |  | $ | (54) |  |  | $ | (6,778) |
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |
Amounts before reclassifications |  | (401) |  |  | 285 |  |  | 84 |  |  | (32) |
Amounts reclassified out |  | 68 |  |  | 972 |  |  | (57) |  |  | 983 |
Total other comprehensive income (loss), before tax |  | (333) |  |  | 1,257 |  |  | 27 |  |  | 951 |
Tax effect 5 |  | (20) |  |  | (296) |  |  | (8) |  |  | (324) |
Total other comprehensive income (loss), net of tax |  | (353) |  |  | 961 |  |  | 19 |  |  | 627 |
Solventum spin-off |  | 64 |  |  | 520 |  |  | — |  |  | 584 |
Balance at June 30, 2024, net of tax: |  | $ | (2,795) |  |  | $ | (2,737) |  |  | $ | (35) |  |  | $ | (5,567) |
5 Includes tax expense (benefit) reclassified out of AOCI related to the following:
|  |  | Three months ended June 30, |  | Six months ended June 30, |  |  |
| (Millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |
| Cumulative translation adjustment |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |
| Defined benefit pension and postretirement plans adjustment |  | (17) |  |  | (216) |  |  | (35) |  |  | (229) |  |  |  |
| Cash flow hedging instruments, realized gain/loss |  | 4 |  |  | 7 |  |  | 9 |  |  | 13 |  |  |  |
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 2024, this was associated with country exits as part of streamlining 3M’s geographic footprint (see Note 6). •Defined benefit pension and postretirement plan adjustments: amounts were reclassified into other (expense) income, net (see Note 13). •Cash flow hedging instruments, realized gain (loss): amounts from foreign currency forward/option contacts were reclassified into cost of sales, while amounts from interest rate contracts were reclassified into interest expense (see Note 15). •The tax effects, if applicable, associated with these reclassifications were reflected in provision for income taxes.

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