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Income Taxes (Tables) | 6 Months Ended
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Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate | The effective tax rates were as follows:
|  | Three months ended June 30, |  | Six months ended June 30, |  |
(Percent of pre-tax income) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Effective tax rate |  | 26.6 | % |  | 14.4 | % |  | 22.1 | % |  | 18.1 | % |  |
3M estimates that year-on-year foreign currency transaction effects, including hedging impacts, approximately impacted pre-tax income as follows:
|  | Three months ended June 30, |  | Six months ended June 30, |
(Millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Year-on-year foreign currency transaction effects on pre-tax income |  | $ | (30) |  |  | $ | 2 |  |  | $ | (25) |  |  | $ | (19) |  |  |
Schedule of Components of Deferred Tax Assets and Liabilities | Net deferred tax assets (net of valuation allowance and deferred tax liabilities) are included as components of other assets and other liabilities within the Consolidated Balance Sheet. This net balance was the following:
(Billions) |  | June 30, 2025 |  | December 31, 2024
Net deferred tax assets |  | $ | 3.7 |  | $ | 3.8

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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