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Related Parties
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
Related Parties Related Parties
Related Party Transactions Prior to Spin-Off
Prior to the Spin-Off, the Company participated in centralized 3M treasury programs. This arrangement was not reflective of the manner in which the Company would have financed its operations had it been a standalone business separate from 3M during the periods presented prior to April 1, 2024. All adjustments relating to certain transactions among the Company and 3M, which include the transfer of the balance of cash to and from 3M, transfer of the balance of cash held in centralized cash management arrangements to and from 3M, and pushdown of all costs of doing business that were paid on behalf of the Company by 3M, are excluded from the asset and liability balances in the condensed consolidated balance sheets and have instead been reported within Net parent investment as a component of equity.
Corporate Allocations
The condensed consolidated statements of income for periods prior to April 1, 2024 include general corporate expenses of 3M for services provided by 3M for certain corporate and shared service functions that were provided on a centralized basis, including the use of shared assets. Expenses had been included on a direct usage basis where costs were specifically identifiable to Solventum or allocated based on the Company’s pro rata proportion of 3M's revenue.
Management believes that the expense allocations were determined on a basis that was a reasonable reflection of the utilization of services provided for or the benefit received by the Company during each of the periods presented prior to April 1, 2024. The amounts that would have been incurred on a standalone basis could materially differ from the amounts allocated. Management does not believe, however, that it is practicable to estimate what these expenses would have been had the Company operated as an independent entity, including any expenses associated with obtaining any of these services from unaffiliated entities. There was no expense allocation activity from 3M after April 1, 2024.
3M expense allocations were recorded in the condensed consolidated statements of income within the following captions:
Three months ended September 30,Nine months ended September 30,
(Millions)20242024
Cost of product$— $15 
Cost of software and rentals— — 
Selling, general and administrative expenses— 177 
Research and development expenses— 28 
Total$— $220 
Related Party Transactions After Spin-Off
Separation and Distribution Agreement and Other Related Party Transactions with 3M
In connection with the Spin-Off on April 1, 2024, the Company entered into or adopted several agreements that provide a framework for Solventum's relationship with 3M after the separation and distribution. Below is a summary of activity between Solventum and 3M for the periods presented:
•Separation related adjustments, which are the net impact of certain assets and liabilities that were retained by 3M and those that were transferred to Solventum as of March 31, 2024    , resulted in a decrease to net assets and total equity of $1.1 billion in the second quarter of 2024. This activity was reflected in the “Net transfers to 3M” line item of the condensed consolidated statements of changes in equity. The impact on net assets primarily represents liabilities payable to 3M for services received prior to Spin-Off as well as cash and accounts receivable retained by 3M.
•Transition agreement expenses for the three and nine months ended September 30, 2025 were $145 million and $417 million, respectively, and for both the three and nine months ended September 30, 2024 were $144 million and $231 million, respectively, and are related to services received under transition agreements between the Company and 3M and its affiliates. These expenses are reflected in cost of product and operating expense (which is comprised of selling, general and administrative and research and development expenses) on the Company's condensed consolidated statements of income.
•Master Supply Agreements - The Company recognized revenue and cost of sales associated with products sold to 3M of $22 million and $17 million, respectively, for the three months ended September 30, 2025 and $64 million and $48 million, respectively, for the nine months ended September 30, 2025. The Company recognized revenue and cost of
sales associated with products sold to 3M of $17 million and $12 million, respectively, for the three months ended September 30, 2024 and $27 million and $20 million, respectively, for the nine months ended September 30, 2024. Cost of product related to purchases from 3M under the master supply agreements was $64 million and $185 million for the three and nine months ended September 30, 2025, respectively. Cost of product related to purchases from 3M under the master supply agreements was $68 million for the three and nine months ended September 30, 2024.
Related Party Transactions
The Company had the following transactions with 3M and its affiliates, primarily in connection with the transition and master supply agreements, reported in the Company’s condensed consolidated financial statements:
Three months ended September 30,Nine months ended September 30,
(Amounts in millions)2025202420252024
Net sales of product$22 $17 $64 $27 
Cost of product167 171 481 201 
Selling, general and administrative expenses67 63 193 135 
Research and development expenses
2 2 8 5 
Current amounts due from and due to 3M under various agreements described above are recognized within the due from related parties and due to related parties, as applicable, in the condensed consolidated financial statements. There were no non-current amounts due to 3M at September 30, 2025.
Net Parent Investment
Net transfers to 3M are included within Net parent investment in the condensed consolidated statements of changes in equity and within financing activities in the condensed consolidated statements of cash flows and represent the net effect of transactions between the Company and 3M.
The reconciliation of net transfers to 3M between the condensed consolidated changes in equity and the condensed consolidated statements of cash flows are as follows:
Three months ended September 30,Nine months ended September 30,
(Millions)2025202420252024
Net transfers from (to) 3M on the condensed consolidated changes in equity$9 $— $(21)$(8,575)
Stock compensation expense— — — (4)
Multiemployer pension expense— — — (5)
Net balances transferred from 3M— — — 337 
Net transfers from (to) 3M on the condensed consolidated statements of cash flows$9 $— $(21)$(8,247)