3M (MMM) 10-Q 28 Apr 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2020shares
Document Information
Entity Registrant Name	3M COMPANY
Entity Central Index Key	0000066740
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity File Number	1-3285
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0417775
Entity Address, Address Line One	3M Center
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55144-1000
City Area Code	651
Local Phone Number	733-1110
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	575,196,371
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Common Stock | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	Common Stock, Par Value $.01 Per Share
Trading Symbol	MMM
Security Exchange Name	NYSE
Common Stock | Chicago Stock Exchange, Inc.
Document Information
Title of 12(b) Security	Common Stock, Par Value $.01 Per Share
Trading Symbol	MMM
Security Exchange Name	CHX
1.500% Notes due 2026 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	1.500% Notes due 2026
Trading Symbol	MMM26
Security Exchange Name	NYSE
Floating Rate Notes due 2020 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	Floating Rate Notes due 2020
No Trading Symbol Flag	true
0.375% Notes due 2022 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	0.375% Notes due 2022
Trading Symbol	MMM22A
Security Exchange Name	NYSE
0.950% Notes due 2023 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	0.950% Notes due 2023
Trading Symbol	MMM23
Security Exchange Name	NYSE
1.750% Notes due 2030 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	1.750% Notes due 2030
Trading Symbol	MMM30
Security Exchange Name	NYSE
1.500% Notes due 2031 | New York Stock Exchange, Inc.
Document Information
Title of 12(b) Security	1.500% Notes due 2031
Trading Symbol	MMM31
Security Exchange Name	NYSE

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated Statement of Income
Net sales	$ 8,075	$ 7,863
Operating expenses
Cost of sales	4,109	4,310
Selling, general and administrative expenses	1,768	1,948
Research, development and related expenses	537	477
Gain on sale of businesses	(2)	(8)
Total operating expenses	6,412	6,727
Operating income	1,663	1,136
Interest expense and income
Other expense (income), net	96	48
Income before income taxes	1,567	1,088
Provision for income taxes	273	195
Net income including noncontrolling interest	1,294	893
Less: Net income attributable to noncontrolling interest	2	2
Net income attributable to 3M	$ 1,292	$ 891
Weighted average 3M common shares outstanding - basic (in shares)	576.8	577.5
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)	$ 2.24	$ 1.54
Weighted average 3M common shares outstanding - diluted (in shares)	581.5	588.5
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)	$ 2.22	$ 1.51

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated Statement of Comprehensive Income
Net income including noncontrolling interest	$ 1,294	$ 893
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(444)	77
Defined benefit pension and postretirement plans adjustment	119	84
Cash flow hedging instruments	47	6
Total other comprehensive income (loss), net of tax	(278)	167
Comprehensive income (loss) including noncontrolling interest	1,016	1,060
Comprehensive (income) loss attributable to noncontrolling interest	1	(2)
Comprehensive income (loss) attributable to 3M	$ 1,017	$ 1,058

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 4,253	$ 2,353
Marketable securities - current	224	98
Accounts receivable - net of allowances of $172 and $161	4,821	4,791
Inventories
Finished goods	2,021	2,003
Work in process	1,214	1,194
Raw materials and supplies	982	937
Total inventories	4,217	4,134
Prepaids	604	704
Other current assets	971	891
Total current assets	15,090	12,971
Property, plant and equipment	26,000	26,124
Less: Accumulated depreciation	(16,835)	(16,791)
Property, plant and equipment - net	9,165	9,333
Operating lease right of use assets	849	858
Goodwill	13,312	13,444
Intangible assets - net	6,191	6,379
Other assets	1,605	1,674
Total assets	46,212	44,659
Current liabilities
Short-term borrowings and current portion of long-term debt	3,248	2,795
Accounts payable	2,207	2,228
Accrued payroll	523	702
Accrued income taxes	136	194
Operating lease liabilities - current	244	247
Other current liabilities	2,776	3,056
Total current liabilities	9,134	9,222
Long-term debt	19,247	17,518
Pension and postretirement benefits	3,794	3,911
Operating lease liabilities	603	607
Other liabilities	3,225	3,275
Total liabilities	36,003	34,533
Commitments and contingencies (Note 14)
3M Company shareholders' equity:
Common stock par value, $.01 par value; 944,033,056 shares issued; Shares outstanding - March 31, 2020: 575,196,371; Shares outstanding - December 31, 2019: 575,184,835	9	9
Additional paid-in capital	6,024	5,907
Retained earnings	42,345	42,135
Treasury stock at cost: Shares at March 31, 2020: 368,836,685; Shares at December 31, 2019: 368,848,221	(29,817)	(29,849)
Accumulated other comprehensive income (loss)	(8,414)	(8,139)
Total 3M Company shareholders' equity	10,147	10,063
Noncontrolling interest	62	63
Total equity	10,209	10,126
Total liabilities and equity	$ 46,212	$ 44,659

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheet
Allowances for doubtful accounts receivable	$ 172	$ 161
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	944,033,056	944,033,056
Common stock, Shares outstanding (in shares)	575,196,371	575,184,835
Treasury stock (in shares)	368,836,685	368,848,221

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities
Net income including noncontrolling interest	$ 1,294	$ 893
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities
Depreciation and amortization	440	375
Company pension and postretirement contributions	(39)	(47)
Company pension and postretirement expense	98	70
Stock-based compensation expense	120	130
Gain on sale of businesses	(2)	(5)
Deferred income taxes	29	(56)
Changes in assets and liabilities
Accounts receivable	(143)	(78)
Inventories	(207)	(178)
Accounts payable	12	(3)
Accrued income taxes (current and long-term)	68
Other - net	(457)	(53)
Net cash provided by (used in) operating activities	1,213	1,048
Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E)	(332)	(391)
Proceeds from sale of PP&E and other assets	7	1
Acquisitions, net of cash acquired	(25)	(704)
Purchases of marketable securities and investments	(318)	(511)
Proceeds from maturities and sale of marketable securities and investments	207	369
Proceeds from sale of businesses, net of cash sold	86	6
Other - net		5
Net cash provided by (used in) investing activities	(375)	(1,225)
Cash Flows from Financing Activities
Change in short-term debt - net	462	(428)
Repayment of debt (maturities greater than 90 days)		(246)
Proceeds from debt (maturities greater than 90 days)	1,745	2,265
Purchases of treasury stock	(365)	(701)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans	149	215
Dividends paid to shareholders	(847)	(830)
Other - net	(36)	(17)
Net cash provided by (used in) financing activities	1,108	258
Effect of exchange rate changes on cash and cash equivalents	(46)	4
Net increase (decrease) in cash and cash equivalents	1,900	85
Cash and cash equivalents at beginning of year	2,353	2,853
Cash and cash equivalents at end of period	$ 4,253	$ 2,938

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies
Significant Accounting Policies	3M Company and Subsidiaries Notes to Consolidated Financial Statements (Unaudited) ​ NOTE 1. Significant Accounting Policies ​ Basis of Presentation ​ The interim consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. These adjustments consist of normal, recurring items. The results of operations for any interim period are not necessarily indicative of results for the full year. The interim consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and notes included in its Annual Report on Form 10-K. ​ As described in Note 16, effective in the first quarter of 2020, the Company changed its business segment reporting in its continuing effort to improve the alignment of businesses around markets and customers. Additionally, the Company consolidated the way it presents geographic area net sales by providing an aggregate Americas geographic region (combining former United States and Latin America and Canada areas). Information provided herein reflects the impact of these changes for all periods presented. ​ Changes to Significant Accounting Policies ​ The following significant accounting policies have been added or changed as applicable since the Company’s 2019 Annual Report on Form 10-K as a result of adoption of new accounting pronouncements as described in the “New Accounting Pronouncements” section. ​ Accounts receivable and allowances The allowances for bad debts as well as the provision for credit losses, write-off activity and recoveries for the periods presented are not material. The Company has long-term receivables that typically aggregate to less than $100 million, do not have significant credit risk, and the origination dates of which are typically not older than five years . These long-term receivables are subject to an allowance methodology similar to other receivables. ​ Marketable securities: Investments-Debt Securities Available-for-Sale Debt Securities ​ Foreign Currency Translation ​ Local currencies generally are considered the functional currencies outside the United States with the exception of 3M’s subsidiaries in Argentina, the economy of which was considered highly inflationary beginning in 2018, and accordingly the financial statements of these subsidiaries are remeasured as if their functional currency is that of their parent. Assets and liabilities for operations in local-currency environments are translated at month-end exchange rates of the period reported. Income and expense items are translated at average monthly currency exchange rates in effect during the period. Cumulative translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in shareholders’ equity. ​ 3M had a consolidating subsidiary in Venezuela, the financial statements of which were remeasured as if its functional currency were that of its parent because Venezuela’s economic environment is considered highly inflationary. The operating income of this subsidiary was immaterial as a percent of 3M’s consolidated operating income for the periods presented. In light of circumstances, including the country’s unstable environment and heightened unrest leading to sustained lack of demand, and expectation that these circumstances will continue for the foreseeable future, during May 2019, 3M concluded it no longer met the criteria of control in order to continue consolidating its Venezuelan operations. As a result, as of May 31, 2019, the Company began reflecting its interest in the Venezuelan subsidiary as an equity investment that does not have a readily determinable fair value. This resulted in a pre-tax charge of $162 million within other expense (income) in the second quarter of 2019. The charge primarily relates to $144 million of foreign currency translation losses associated with foreign currency movements before Venezuela was accounted for as a highly inflationary economy and pension elements previously included in accumulated other comprehensive loss along with write-down of intercompany receivable and investment balances associated with this subsidiary. Beginning May 31, 2019, 3M’s consolidated balance sheets and statements of operations no longer include the Venezuelan entity’s operations other than an immaterial equity investment and associated loss or income thereon largely only to the extent, if any, that 3M provides support or materials and receives funding or dividends. ​ Earnings Per Share ​ The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is the result of the dilution associated with the Company’s stock-based compensation plans. Certain options outstanding under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would have had an anti-dilutive effect (19.2 million and 5.2 million average options for the three months ended March 31, 2020 and 2019, respectively). The computations for basic and diluted earnings per share follow: ​ Earnings Per Share Computations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ (Amounts in millions, except per share amounts) 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,292 ​ $ 891 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 576.8 ​ 577.5 ​ Dilution associated with the Company’s stock-based compensation plans ​ 4.7 ​ 11.0 ​ Denominator for weighted average 3M common shares outstanding – ​ 581.5 ​ 588.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.24 ​ $ 1.54 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.22 ​ $ 1.51 ​ ​ ​ New Accounting Pronouncements ​ See the Company’s 2019 Annual Report on Form 10-K for a more detailed discussion of the standards in the tables that follow, except for those pronouncements issued subsequent to the most recent Form 10-K filing date for which separate, more detailed discussion is provided below as applicable. ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards Adopted During the Current Fiscal Year Standard Relevant Description Effective Date for 3M Impact and Other Matters ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (in conjunction with ASU Nos. 2018-19, 2019-04, 2019-05, 2019-11, and 2020-03) Introduces an approach, based on expected losses, to estimate credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. ​ Amends the current other-than-temporary impairment model for available-for-sale debt securities. For such securities with unrealized losses, entities will still consider if a portion of any impairment is related only to credit losses and therefore recognized as a reduction in income. January 1, 2020 Adopted using the modified retrospective approach. Adoption of this ASU did not have a material impact due to the nature and extent of 3M’s financial instruments in scope for this ASU (primarily accounts receivable) and the historical, current and expected credit quality of its customers as of the date of adoption. ​ See Note 1 Significant Accounting Policies for updated applicable accounting policies. ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement Eliminates, amends, and adds disclosure requirements for fair value measurements, primarily related to Level 3 fair value measurements. January 1, 2020 This ASU relates to disclosure only. The nature and extent of 3M’s financial instruments in scope for this ASU (primarily Level 3 fair value measurements) are immaterial to 3M’s consolidated results of operations and financial condition. ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract Aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service arrangement (i.e. hosting arrangement) with the guidance on capitalizing costs in ASC 350-40, Internal-Use Software January 1, 2020 Adopted on a prospective basis. Relevant capitalizable costs are included in prepaid expenses or other non-current asset, as applicable, prospectively beginning in 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards Issued and Not Yet Adopted Standard Relevant Description Effective Date for 3M Impact and Other Matters ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) Eliminates certain existing exceptions related to the general approach in ASC 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for transactions outside of business combination that result in a step-up in the tax basis of goodwill. January 1, 2021 3M previously disclosed it does not expect this ASU to have a material impact on its consolidated results of operations and financial condition. ASU No. 2020-01, Clarifying the Interactions between Topic 321, Investments—Equity Securities, Topic 323, Investments—Equity Method and Joint Ventures, and Topic 815, Derivatives and Hedging Clarifies when accounting for certain equity securities, a Company should consider observable transactions before applying or upon discontinuing the equity method of accounting for the purposes of applying the measurement alternative. ​ Indicates when determining the accounting for certain derivatives, a Company should not consider if the underlying securities would be accounted for under the equity method or fair value option. January 1, 2021 3M previously disclosed it does not expect this ASU to have a material impact on its consolidated results of operations and financial condition, but will apply such guidance, where applicable, to future circumstances. ​ Relevant New Standards Issued Subsequent to Most Recent Annual Report ​ In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting contract changes as early as January 1, 2020. The provisions have impact as contract modifications and other changes occur while LIBOR is phased out. The Company is in the process of evaluating the optional relief guidance provided within this ASU and is also reviewing its debt securities, bank facilities, derivative instruments and commercial contracts that utilize LIBOR as the reference rate. 3M will continue its assessment and monitor regulatory developments during the LIBOR transition period.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue
Revenue	NOTE 2. Revenue ​ Contract Balances: Deferred revenue primarily relates to revenue that is recognized over time for one-year software license contracts. Deferred revenue (current portion) as of March 31, 2020 and December 31, 2019 was $422 million and $430 million, respectively. Approximately $160 million of the December 31, 2019 balance was recognized as revenue during the three months ended March 31, 2020, while approximately $370 million of the December 31, 2018 balance was recognized as revenue during the three months ended March 31, 2019. ​ Disaggregated revenue information: The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ Net Sales (Millions) ​ 2020 2019 ​ Abrasives ​ $ 330 ​ $ 363 ​ Automotive Aftermarket ​ ​ 284 ​ ​ 306 ​ Closure and Masking Systems ​ ​ 268 ​ ​ 278 ​ Electrical Markets ​ ​ 291 ​ ​ 311 ​ Industrial Adhesives and Tapes ​ ​ 674 ​ ​ 683 ​ Personal Safety ​ ​ 990 ​ ​ 924 ​ Roofing Granules ​ ​ 95 ​ ​ 92 ​ Other Safety and Industrial ​ ​ 3 ​ ​ 6 ​ Total Safety and Industrial Business Segment ​ $ 2,935 ​ $ 2,963 ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced Materials ​ $ 288 ​ $ 311 ​ Automotive and Aerospace ​ ​ 447 ​ ​ 508 ​ Commercial Solutions ​ ​ 429 ​ ​ 462 ​ Electronics ​ ​ 863 ​ ​ 861 ​ Transportation Safety ​ ​ 211 ​ ​ 216 ​ Other Transportation and Electronics ​ ​ — ​ ​ (3) ​ Total Transportation and Electronics Business Segment ​ $ 2,238 ​ $ 2,355 ​ ​ ​ ​ ​ ​ ​ ​ ​ Drug Delivery ​ $ 105 ​ $ 83 ​ Food Safety ​ ​ 91 ​ ​ 83 ​ Health Information Systems ​ ​ 277 ​ ​ 260 ​ Medical Solutions ​ ​ 1,153 ​ ​ 773 ​ Oral Care ​ ​ 277 ​ ​ 341 ​ Separation and Purification Sciences ​ ​ 202 ​ ​ 203 ​ Other Health Care ​ ​ (2) ​ ​ (5) ​ Total Health Care Business Group ​ $ 2,103 ​ $ 1,738 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Health Care ​ $ 99 ​ $ 97 ​ Home Care ​ ​ 270 ​ ​ 257 ​ Home Improvement ​ ​ 576 ​ ​ 528 ​ Stationery and Office ​ ​ 273 ​ ​ 295 ​ Other Consumer ​ ​ 38 ​ ​ 23 ​ Total Consumer Business Group ​ $ 1,256 ​ $ 1,200 ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and Unallocated ​ $ 1 ​ $ 22 ​ Elimination of Dual Credit ​ ​ (458) ​ ​ (415) ​ Total Company ​ $ 8,075 ​ $ 7,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,519 ​ $ 719 ​ $ 698 ​ $ (1) ​ $ 2,935 ​ Transportation and Electronics ​ 675 ​ 1,201 ​ 362 ​ — ​ 2,238 ​ Health Care ​ ​ 1,281 ​ ​ 356 ​ ​ 467 ​ ​ (1) ​ ​ 2,103 ​ Consumer ​ 874 ​ 250 ​ 132 ​ — ​ 1,256 ​ Corporate and Unallocated ​ 1 ​ — ​ — ​ — ​ 1 ​ Elimination of Dual Credit ​ (208) ​ (181) ​ (69) ​ — ​ (458) ​ Total Company ​ $ 4,142 ​ $ 2,345 ​ $ 1,590 ​ $ (2) ​ $ 8,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,486 ​ $ 759 ​ $ 719 ​ $ (1) ​ $ 2,963 ​ Transportation and Electronics ​ 713 ​ 1,257 ​ 386 ​ (1) ​ 2,355 ​ Health Care ​ ​ 922 ​ ​ 378 ​ ​ 438 ​ ​ — ​ ​ 1,738 ​ Consumer ​ 803 ​ 257 ​ 141 ​ (1) ​ 1,200 ​ Corporate and Unallocated ​ 21 ​ 2 ​ 1 ​ (2) ​ 22 ​ Elimination of Dual Credit ​ (182) ​ (175) ​ (61) ​ 3 ​ (415) ​ Total Company ​ $ 3,763 ​ $ 2,478 ​ $ 1,624 ​ $ (2) ​ $ 7,863 ​ ​ Americas included United States net sales to customers of $3.425 billion and $3.046 billion for the three months ended March 31, 2020 and 2019, respectively.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2020
Acquisitions and Divestitures
Acquisitions and Divestitures	NOTE 3. Acquisitions and Divestitures ​ Refer to Note 3 in 3M’s 2019 Annual Report on Form 10-K for more information on relevant pre-2020 acquisitions and divestitures. ​ Acquisitions: ​ 3M makes acquisitions of certain businesses from time to time that are aligned with its strategic intent with respect to, among other factors, growth markets and adjacent product lines or technologies. Goodwill resulting from business combinations is largely attributable to the existing workforce of the acquired businesses and synergies expected to arise after 3M’s acquisition of these businesses. ​ 2020 acquisitions: ​ There were no acquisitions that closed during the three months ended March 31, 2020. ​ 2019 acquisitions: ​ In February 2019, 3M completed the acquisition of all of the ownership interests of the technology business of M*Modal for $0.7 billion of cash, net of cash acquired, and assumption of $0.3 billion of M*Modal’s debt. The allocation of purchase consideration related to M*Modal was completed in the fourth quarter of 2019. Net sales and operating loss (inclusive of transaction and integration costs) of this business included in 3M’s consolidated results of operations for the first quarter of 2019 were approximately $50 million and $20 million, respectively. M*Modal is reported within the Company’s Health Care business. ​ In October 2019, the Company completed the acquisition of all of the ownership interests of Acelity Inc. and its KCI subsidiaries and in the first quarter of 2020 paid certain consideration previously accrued under the terms of related agreements. Adjustments in 2020 to the purchase price allocation were approximately $18 million and related to ongoing identification and valuation of certain acquired assets. The change to provisional amounts did not result in material impacts to results of operations in 2020 or any portion related to earlier quarters in the measurement period. The allocation of purchase consideration related to Acelity is considered preliminary with provisional amounts primarily related to intangible assets, and certain tax-related and contingent liability amounts. 3M expects to finalize the allocation of purchase price within the one-year measurement-period following the acquisition. Net sales and operating loss (inclusive of transaction and integration costs) of this business included in 3M’s consolidated results of operations in the fourth quarter of 2019 were approximately $350 million and $45 million, respectively. Acelity is reported within the Company’s Health Care business. ​ Divestitures: ​ 3M may divest certain businesses from time to time based upon review of the Company’s portfolio considering, among other items, factors relative to the extent of strategic and technological alignment and optimization of capital deployment, in addition to considering if selling the businesses results in the greatest value creation for the Company and for shareholders. ​ Announced divestitures ​ In December 2019, 3M agreed to sell substantially all of its drug delivery business to an affiliate of Altaris Capital Partners, LLC. Subject to closing and other adjustments, 3M will receive approximately $650 million in consideration including cash, an interest-bearing security, and a 17 percent noncontrolling interest in the new company. The business that is being divested has annual sales of approximately $380 million. 3M will retain its transdermal drug delivery components business. The sale is expected to close in the second quarter of 2020, subject to customary closing conditions and regulatory approvals. 3M expects a pre-tax gain of approximately $380 million as a result of the divestiture that will be reported within the Company’s Health Care business. Following completion of the transaction, 3M will reflect its ownership interest in the divested business using the equity method of accounting. ​ 2020 divestitures: ​ In January 2020, 3M completed the sale of its advanced ballistic-protection business to Avon Rubber p.l.c for $86 million in cash and recognized certain contingent consideration from the outcome of pending tenders. Further contingent consideration of less than $25 million may be recognized depending on outcomes in the future. The business, with annual sales of approximately $85 million, consists of ballistic helmets, body armor, flat armor and related helmet-attachment products serving government and law enforcement. Within the Transportation and Electronics business, 3M reflected immaterial impacts in the third quarter of 2019 as a result of measuring this disposal group at the lower of its carrying amount or fair value less cost to sell and in the first quarter 2020 related to completion of the divestiture and recognition of contingent consideration. ​ 2019 divestitures: ​ During 2019, as described in Note 3 in 3M’s 2019 Annual Report on Form 10-K, the Company divested a number of businesses including: certain oral care technology comprising a business and the gas and flame detection business. 3M also reflected an earnout on a previous divestiture. ​ Operating income and held for sale amounts: The aggregate operating income of these businesses was approximately $25 million and immaterial in the first three months of 2020 and 2019, respectively. The approximate amounts of major assets and liabilities associated with disposal groups classified as held-for-sale as of March 31, 2020 and December 31, 2019 included the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2020 2019 Inventory ​ $ 60 ​ 70 ​ Property, plant and equipment ​ ​ 135 ​ ​ 150 ​ Intangible assets ​ ​ — ​ ​ 35 ​ ​ In addition, approximately $20 million and $30 million of goodwill was estimated to be attributable to disposal groups classified as held-for-sale as of March 31, 2020 and December 31, 2019, respectively, based upon relative fair value. The amounts above have not been segregated and are classified within the existing corresponding line items on the Company’s consolidated balance sheet.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets
Goodwill and Intangible Assets	NOTE 4. Goodwill and Intangible Assets ​ There was no goodwill recorded from acquisitions during the first three months of 2020. The acquisition activity in the following table relates to the net impact of adjustments to the preliminary allocation of purchase price within the one year measurement period following prior acquisitions, which decreased goodwill by $18 million during the three months ended March 31, 2020. The amounts in the “Translation and other” row in the following table primarily relate to changes in foreign currency exchange rates. The goodwill balance by business segment as of December 31, 2019 and March 31, 2020, follow: ​ Goodwill ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ Safety and Industrial ​ Transportation and Electronics ​ Health Care ​ Consumer ​ Total Company ​ Balance as of December 31, 2019 ​ $ 4,621 ​ $ 1,830 ​ $ 6,739 ​ $ 254 ​ $ 13,444 ​ Acquisition activity ​ ​ — ​ ​ — ​ ​ (18) ​ ​ — ​ ​ (18) ​ Divestiture activity ​ ​ — ​ ​ (10) ​ ​ — ​ ​ — ​ ​ (10) ​ Translation and other ​ ​ (64) ​ ​ (10) ​ ​ (29) ​ ​ (1) ​ ​ (104) ​ Balance as of March 31, 2020 ​ $ 4,557 ​ $ 1,810 ​ $ 6,692 ​ $ 253 ​ $ 13,312 ​ ​ Accounting standards require that goodwill be tested for impairment annually and between annual tests in certain circumstances such as a change in reporting units or the testing of recoverability of a significant asset group within a reporting unit. At 3M, reporting units correspond to a division. ​ As described in Note 16, effective in the first quarter of 2020, the Company changed its business segment reporting. For any product changes that resulted in reporting unit changes, the Company applied the relative fair value method to determine the impact on goodwill of the associated reporting units, the results of which were immaterial. In conjunction with the change in segment reporting, 3M completed an assessment indicating no goodwill impairment existed as a result of this new segment structure. ​ Acquired Intangible Assets ​ The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets, as of March 31, 2020 and December 31, 2019, follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2020 2019 Customer related intangible assets ​ $ 4,222 ​ $ 4,316 ​ Patents ​ 535 ​ 538 ​ Other technology-based intangible assets ​ 2,093 ​ 2,124 ​ Definite-lived tradenames ​ 1,175 ​ 1,158 ​ Other amortizable intangible assets ​ 123 ​ 125 ​ Total gross carrying amount ​ $ 8,148 ​ $ 8,261 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization — customer related ​ (1,197) ​ (1,180) ​ Accumulated amortization — patents ​ (500) ​ (499) ​ Accumulated amortization — other technology-based ​ (470) ​ (435) ​ Accumulated amortization — definite-lived tradenames ​ (332) ​ (316) ​ Accumulated amortization — other ​ (90) ​ (90) ​ Total accumulated amortization ​ $ (2,589) ​ $ (2,520) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total finite-lived intangible assets — net ​ $ 5,559 ​ $ 5,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-amortizable intangible assets (primarily tradenames) ​ 632 ​ 638 ​ Total intangible assets — net ​ $ 6,191 ​ $ 6,379 ​ ​ Certain tradenames acquired by 3M are not amortized because they have been in existence for over 55 years, have a history of leading-market share positions, have been and are intended to be continuously renewed, and the associated products of which are expected to generate cash flows for 3M for an indefinite period of time. As discussed in Note 13, 3M reflected an immaterial charge related to impairment of certain indefinite-lived assets in the three months ended March 31, 2020. ​ Amortization expense for the three months ended March 31, 2020 and 2019 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2020 2019 Amortization expense ​ $ 134 ​ $ 69 ​ Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After (Millions) ​ 2020 ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2025 Amortization expense ​ $ 398 ​ $ 521 ​ $ 509 ​ $ 479 ​ $ 454 ​ $ 424 ​ $ 2,774 ​ ​ The preceding expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, accelerated amortization of intangible assets and other events. 3M expenses the costs incurred to renew or extend the term of intangible assets.

Restructuring Actions and Exit

Restructuring Actions and Exit Activities	3 Months Ended
	Mar. 31, 2020
Restructuring Actions
Restructuring Actions	NOTE 5. Restructuring Actions and Exit Activities 2019 Restructuring Actions: ​ As described in Note 5 in 3M’s 2019 Annual Report on Form 10-K, during the second quarter of 2019, in light of slower than expected 2019 sales, management approved and committed to undertake certain restructuring actions. These actions impacted approximately 2,000 positions worldwide, including attrition. The Company recorded second quarter 2019 pre-tax charges of $148 million. Additionally, during the fourth quarter of 2019, to realign 3M’s organizational structure and operating model to improve growth and operational efficiency, management approved and committed to undertake certain restructuring actions. These actions impacted approximately 1,500 positions worldwide. The Company recorded fourth quarter 2019 pre-tax charges of $134 million. As of December 31, 2019, the balance of accrued restructuring actions for these matters was $140 million. ​ Restructuring actions, including cash and non-cash impacts, follow: ​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2019 ​ $ 140 ​ Cash payments ​ (12) ​ Adjustments ​ ​ (4) ​ Accrued restructuring action balances as of March 31, 2020 ​ $ 124 ​ ​ Remaining activities related to this restructuring are expected to be completed largely through 2020.

Supplemental Income Statement I

Supplemental Income Statement Information	3 Months Ended
	Mar. 31, 2020
Supplemental Income Statement Information
Supplemental Income Statement Information	NOTE 6. Supplemental Income Statement Information ​ Other expense (income), net consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) ​ 2020 2019 Interest expense ​ $ 123 ​ $ 104 Interest income ​ (10) ​ (20) Pension and postretirement net periodic benefit cost (benefit) ​ ​ (17) ​ ​ (36) Total ​ $ 96 ​ $ 48 ​ Pension and postretirement net periodic benefit costs described in the table above include all components of defined benefit plan net periodic benefit costs except service cost, which is reported in various operating expense lines. Refer to Note 11 for additional details on the components of pension and postretirement net periodic benefit costs.

Supplemental Equity and Compreh

Supplemental Equity and Comprehensive Income Information	3 Months Ended
	Mar. 31, 2020
Supplemental Equity and Comprehensive Income Information
Supplemental Equity and Comprehensive Income Information	NOTE 7. Supplemental Equity and Comprehensive Income Information ​ Cash dividends declared and paid totaled $1.47 and $1.44 per share for the first quarter 2020 and 2019, respectively. ​ Consolidated Changes in Equity ​ Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3M Company Shareholders ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Stock and ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ ​ ​ ​ Comprehensive ​ Non- ​ ​ ​ ​ ​ Paid-in ​ Retained ​ Treasury ​ Income ​ controlling (Millions) Total Capital Earnings Stock (Loss) Interest Balance at December 31, 2019 $ 10,126 $ 5,916 $ 42,135 $ (29,849) $ (8,139) $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,294 ​ ​ ​ ​ 1,292 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (441) ​ (3) ​ Defined benefit pension and post-retirement plans adjustment ​ 119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 119 ​ — ​ Cash flow hedging instruments ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47 ​ — ​ Total other comprehensive income (loss), net of tax ​ (278) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (847) ​ ​ ​ ​ (847) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 117 ​ 117 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (356) ​ ​ ​ ​ ​ ​ ​ (356) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 153 ​ ​ ​ ​ (235) ​ 388 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2020 $ 10,209 $ 6,033 $ 42,345 $ (29,817) $ (8,414) $ 62 ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3M Company Shareholders ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Stock and ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ ​ ​ ​ Comprehensive ​ Non- ​ ​ ​ ​ ​ Paid-in ​ Retained ​ Treasury ​ Income ​ controlling (Millions) Total Capital Earnings Stock (Loss) Interest Balance at December 31, 2018 $ 9,848 $ 5,652 $ 40,636 $ (29,626) $ (6,866) $ 52 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impact of adoption of ASU No. 2018-02* ​ ​ — ​ ​ ​ ​ ​ 853 ​ ​ ​ ​ ​ (853) ​ ​ ​ ​ Impact of adoption of ASU No. 2016-02* ​ ​ 14 ​ ​ ​ ​ ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 893 ​ ​ ​ ​ 891 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ 77 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 77 ​ — ​ Defined benefit pension and post-retirement plans adjustment ​ 84 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 84 ​ — ​ Cash flow hedging instruments ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6 ​ — ​ Total other comprehensive income (loss), net of tax ​ 167 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (830) ​ ​ ​ ​ (830) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 112 ​ 112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (666) ​ ​ ​ ​ ​ ​ ​ (666) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 219 ​ ​ ​ ​ (405) ​ 624 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2019 $ 9,757 $ 5,764 $ 41,159 $ (29,668) $ (7,552) $ 54 ​ *See Note 1 in 3M’s 2019 Annual Report on Form 10-K. ​ Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component ​ Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Defined Benefit ​ Cash Flow ​ Accumulated ​ ​ ​ ​ ​ Pension and ​ Hedging ​ Other ​ ​ Cumulative ​ Postretirement ​ Instruments, ​ Comprehensive ​ ​ Translation ​ Plans ​ Unrealized ​ Income (Millions) ​ Adjustment ​ Adjustment ​ Gain (Loss) ​ (Loss) Balance at December 31, 2019, net of tax: ​ $ (1,899) ​ $ (6,209) ​ $ (31) ​ $ (8,139) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (439) ​ — ​ 77 ​ (362) ​ Amounts reclassified out ​ — ​ 164 ​ (16) ​ 148 ​ Total other comprehensive income (loss), before tax ​ (439) ​ 164 ​ 61 ​ (214) ​ Tax effect ​ (2) ​ (45) ​ (14) ​ (61) ​ Total other comprehensive income (loss), net of tax ​ (441) ​ 119 ​ 47 ​ (275) ​ Balance at March 31, 2020, net of tax: ​ $ (2,340) ​ $ (6,090) ​ $ 16 ​ $ (8,414) ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Defined Benefit ​ Cash Flow ​ Accumulated ​ ​ ​ ​ ​ Pension and ​ Hedging ​ Other ​ ​ Cumulative ​ Postretirement ​ Instruments, ​ Comprehensive ​ ​ Translation ​ Plans ​ Unrealized ​ Income (Millions) ​ Adjustment ​ Adjustment ​ Gain (Loss) ​ (Loss) Balance at December 31, 2018, net of tax: ​ $ (2,098) ​ $ (4,832) ​ $ 64 ​ $ (6,866) ​ Impact of adoption of ASU No. 2018-02* ​ ​ (13) ​ ​ (817) ​ ​ (23) ​ ​ (853) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ 103 ​ — ​ 13 ​ 116 ​ Amounts reclassified out ​ — ​ 104 ​ (7) ​ 97 ​ Total other comprehensive income (loss), before tax ​ 103 ​ 104 ​ 6 ​ 213 ​ Tax effect ​ (26) ​ (20) ​ — ​ (46) ​ Total other comprehensive income (loss), net of tax ​ 77 ​ 84 ​ 6 ​ 167 ​ Balance at March 31, 2019, net of tax: ​ $ (2,034) ​ $ (5,565) ​ $ 47 ​ $ (7,552) ​ *See Note 1 in 3M’s 2019 Annual Report on Form 10-K. ​ Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation does include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are subsequently recorded as part of net income. ​ Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Reclassified from ​ ​ Details about Accumulated Other ​ Accumulated Other Comprehensive Income ​ ​ ​ Comprehensive Income Components ​ Three months ended March 31, ​ Location on Income (Millions) ​ 2020 2019 ​ Statement Defined benefit pension and postretirement plans adjustments ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) associated with defined benefit pension and postretirement plans amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ Transition asset ​ $ (1) ​ $ — See Note 11 ​ Prior service benefit ​ ​ 15 ​ ​ 16 See Note 11 ​ Net actuarial loss ​ ​ (177) ​ ​ (120) ​ See Note 11 ​ Curtailments/Settlements ​ (1) ​ — See Note 11 ​ Total before tax ​ (164) ​ (104) ​ ​ ​ Tax effect ​ 45 ​ 20 Provision for income taxes ​ Net of tax ​ $ (119) ​ $ (84) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow hedging instruments gains (losses) ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 18 ​ $ 7 Cost of sales ​ Interest rate contracts ​ (2) ​ — Interest expense ​ Total before tax ​ 16 ​ 7 ​ ​ ​ Tax effect ​ (4) ​ (1) Provision for income taxes ​ Net of tax ​ $ 12 ​ $ 6 ​ ​ ​ Total reclassifications for the period, net of tax ​ $ (107) ​ $ (78) ​ ​ ​ ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Taxes.
Income Taxes	NOTE 8. Income Taxes ​ The Company is under IRS examination or appeals for the tax years 2015 through 2018. The IRS has completed its field examination of the U.S. federal income tax returns for all years through 2016, but the years have not closed as the Company is in the process of resolving issues identified during those examinations. In addition to the U.S. federal examination, there is also audit activity in several U.S. state and foreign jurisdictions. As of March 31, 2020, no taxing authority has proposed significant adjustments to the Company’s tax positions for which the Company is not adequately reserved. ​ It is reasonably possible that the amount of unrecognized tax benefits could significantly change within the next 12 months. At this time, the Company is not able to estimate the range by which these potential events could impact 3M’s unrecognized tax benefits in the next 12 months. The total amounts of unrecognized tax benefits that, if recognized, would affect the effective tax rate as of March 31, 2020 and December 31, 2019 are $1,107 million and $1,178 million, respectively. The decrease in unrecognized tax benefits includes a $52 million decrease associated with the tax treatment of the 2018 agreement reached with the State of Minnesota that resolved the Natural Resources Damages (NRD) lawsuit. ​ As of March 31, 2020 and December 31, 2019, the Company had valuation allowances of $158 million and $158 million on its deferred tax assets, respectively. ​ The effective tax rate for the first quarter of 2020 was 17.4 percent, compared to 17.9 percent in the first quarter of 2019, a decrease of 0.5 percentage points. Primary factors that decreased the Company’s effective tax rate include resolution of the tax treatment of the 2018 NRD lawsuit, increased benefit from U.S. international tax provisions, and geographical income mix. These decreases were partially offset by decreased benefit from stock options and higher prior year litigation charges. ​ In March 2020, in response to the impact of the COVID-19 pandemic in the US and across the globe, the United States Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act. While the enactment period impacts to 3M were immaterial to income taxes, the Company continues to assess other aspects of the CARES Act. ​

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2020
Marketable Securities and Held-to-Maturity Debt Securities
Marketable Securities and Held-to-Maturity Debt Securities	NOTE 9. Marketable Securities ​ The Company invests in asset-backed securities, certificates of deposit/time deposits, commercial paper, and other securities. The following is a summary of amounts recorded on the Consolidated Balance Sheet for marketable securities (current and non-current). ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ March 31, 2020 ​ December 31, 2019 Commercial paper ​ $ 194 ​ $ 85 ​ Certificates of deposit/time deposits ​ 6 ​ 10 ​ U.S. municipal securities ​ 24 ​ 3 ​ Current marketable securities ​ $ 224 ​ $ 98 ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. municipal securities ​ $ 34 ​ $ 43 ​ Non-current marketable securities ​ $ 34 ​ $ 43 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total marketable securities ​ $ 258 ​ $ 141 ​ ​ At March 31, 2020 and December 31, 2019, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material. ​ The balances at March 31, 2020 for marketable securities by contractual maturity are shown below. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. ​ ​ ​ ​ ​ ​ (Millions) March 31, 2020 Due in one year or less ​ $ 224 ​ Due after one year through five years ​ 14 ​ Due after five years through ten years ​ 20 ​ Total marketable securities ​ $ 258 ​ ​ Held-to-Maturity Debt Securities ​ In connection with the in-substance debt defeasance of the Third Lien Notes described in Note 10, the Company purchased a $0.5 billion U.S. Treasury security in the fourth quarter of 2019 that matures in the second quarter of 2020 and transferred it to a trust with irrevocable instructions to use the proceeds from its maturity to satisfy the redemption of the Third Lien Notes in May 2020. This debt security is considered held-to-maturity due to the restrictions in satisfying and discharging the Third Lien Notes, is carried at amortized cost, and is reflected in other current assets on the Company’s consolidated balance sheet. At March 31, 2020, the difference between the amortized cost of the U.S. Treasury security and its fair value was not material.

Long-Term Debt and Short-Term B

Long-Term Debt and Short-Term Borrowings	3 Months Ended
	Mar. 31, 2020
Long-Term Debt and Short-Term Borrowings
Long-Term Debt and Short-Term Borrowings	NOTE 10. Long-Term Debt and Short-Term Borrowings ​ In March 2020, 3M issued $1.75 billion aggregate principal amount of fixed rate registered notes. These were comprised of $500 million of 5-year 10-year 30-year ​ As of March 31, 2020, the Company had $585 million commercial paper outstanding, compared to $150 million in commercial paper outstanding as of December 31, 2019. ​ In September 2019, 3M entered into a credit facility expiring in July 2020 in the amount of 80 billion Japanese yen. At March 31, 2020, 69 billion Japanese yen, or approximately $641 million at March 31, 2020 exchange rates, was drawn and outstanding. ​ In November 2019, 3M entered into a credit facility expiring in November 2020 in the amount of 150 million euros. At March 31, 2020, 150 million euros, or $167 million at March 31, 2020 exchange rates, was drawn and outstanding. ​ In conjunction with the October 2019 acquisition of Acelity (see Note 3), 3M assumed outstanding debt of the business, of which $445 million in principal amount of third lien senior secured notes (Third Lien Notes) maturing in 2021 with a coupon rate of 12.5% was not immediately redeemed at closing. Instead, at closing, 3M satisfied and discharged the Third Lien Notes via an in-substance defeasance, whereby 3M transferred cash equivalents and marketable securities to a trust with irrevocable instructions to redeem the Third Lien Notes on May 1, 2020. The trust assets are restricted from use in 3M’s operations and may only be used for the redemption of the Third Lien Notes. These actions, however, do not represent a legal defeasance. Therefore, as of March 31, 2020, this debt is included in current portion of long-term debt and the related trust assets comprised of a held-to-maturity debt security are included in other current assets on the Company’s consolidated balance sheet. ​ Future Maturities of Long-term Debt ​ Maturities of long-term debt in the table below reflect the impact of put provisions associated with certain debt instruments and are net of the unaccreted debt issue costs such that total maturities equal the carrying value of long-term debt as of March 31, 2020. The maturities of long-term debt for the periods subsequent to March 31, 2020 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After ​ ​ 2020 ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2025 ​ Total $ 1,825 ​ $ 1,682 ​ $ 1,602 ​ $ 1,809 ​ $ 1,101 ​ $ 1,788 ​ $ 11,265 ​ $ 21,072 ​ ​ ​

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2020
Pension and Postretirement Benefit Plans
Pension and Postretirement Benefit Plans	NOTE 11. Pension and Postretirement Benefit Plans ​ The service cost component of defined benefit net periodic benefit cost is recorded in cost of sales; selling, general and administrative expenses; and research, development and related expenses. The other components of net periodic benefit cost are reflected in other expense (income), net. Components of net periodic benefit cost and other supplemental information for the three months ended March 31, 2020 and 2019 follow: ​ Benefit Plan Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ Qualified and Non-qualified ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Postretirement ​ ​ United States International ​ Benefits (Millions) 2020 2019 2020 2019 2020 2019 Net periodic benefit cost (benefit) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 66 ​ $ 62 ​ $ 38 ​ $ 33 ​ $ 11 ​ $ 11 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ $ 124 ​ $ 155 ​ $ 31 ​ $ 39 ​ $ 16 ​ $ 21 ​ Expected return on plan assets ​ (255) ​ (260) ​ (77) ​ (75) ​ (20) ​ (20) ​ Amortization of transition asset ​ — ​ — ​ 1 ​ — ​ — ​ — ​ Amortization of prior service benefit ​ (6) ​ (6) ​ (1) ​ (3) ​ (8) ​ (7) ​ Amortization of net actuarial loss ​ ​ 134 ​ ​ 91 ​ ​ 31 ​ ​ 20 ​ ​ 12 ​ ​ 9 ​ Settlements, curtailments, special termination benefits and other ​ — ​ — ​ — ​ — ​ 1 ​ — ​ Total non-operating expense (benefit) ​ ​ (3) ​ ​ (20) ​ ​ (15) ​ ​ (19) ​ ​ 1 ​ ​ 3 ​ Total net periodic benefit cost (benefit) ​ $ 63 ​ $ 42 ​ $ 23 ​ $ 14 ​ $ 12 ​ $ 14 ​ ​ For the three months ended March 31, 2020, contributions totaling $38 million were made to the Company’s U.S. and international pension plans and $1 million to its postretirement plans. For total year 2020, the Company expects to contribute approximately $200 million of cash to its global defined benefit pension and postretirement plans. The Company does not have a required minimum cash pension contribution obligation for its U.S. plans in 2020. Future contributions will depend on market conditions, interest rates and other factors. 3M’s annual measurement date for pension and postretirement assets and liabilities is December 31 each year, which is also the date used for the related annual measurement assumptions.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2020
Derivatives
Derivatives	NOTE 12. Derivatives ​ The Company uses interest rate swaps, currency swaps, commodity price swaps, and forward and option contracts to manage risks generally associated with foreign exchange rate, interest rate and commodity price fluctuations. The information that follows explains the various types of derivatives and financial instruments used by 3M, how and why 3M uses such instruments, how such instruments are accounted for, and how such instruments impact 3M’s financial position and performance. ​ Additional information with respect to derivatives is included elsewhere as follows: ● Impact on other comprehensive income of nonderivative hedging and derivative instruments is included in Note 7. ● Fair value of derivative instruments is included in Note 13. ● Derivatives and/or hedging instruments associated with the Company’s long-term debt are described in Note 12 in 3M’s 2019 Annual Report on Form 10-K. ​ Types of Derivatives/Hedging Instruments and Inclusion in Income/Other Comprehensive Income ​ Cash Flow Hedges: ​ For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized in current earnings. ​ Cash Flow Hedging - Foreign Currency Forward and Option Contracts: ​ Cash Flow Hedging — Interest Rate Contracts: ​ In March 2020, the Company entered into treasury rate lock contracts with a notional amount of $500 million that were terminated concurrently with the March 2020 issuance of registered notes as discussed in Note 10. The termination resulted in an immaterial net loss within accumulated other comprehensive income that will be amortized over the respective lives of the debt ​ The amortization of gains and losses on forward starting interest rate swap and treasury rate lock contracts is included in the tables below as part of the gain/(loss) reclassified from accumulated other comprehensive income into income. ​ As of March 31, 2020, the Company had a balance of $16 million after-tax net unrealized gain associated with cash flow hedging instruments recorded in accumulated other comprehensive income. This includes a remaining balance of $113 million (after-tax loss) related to the forward starting interest rate swap and treasury rate lock contracts, which will be amortized over the respective lives of the notes. Based on exchange rates as of March 31, 2020, 3M expects to reclassify approximately $72 million, $57 million, $45 million of the after-tax net unrealized cash flow hedging gains to earnings over the next 12 months, over the remainder of 2020, and in 2021, respectively, in addition to reclassifying approximately $86 million of the after-tax net unrealized cash flow hedging losses to earnings after 2021 (with the impact offset by earnings/losses from underlying hedged items). ​ The location in the consolidated statements of income and comprehensive income and amounts of gains and losses related to derivative instruments designated as cash flow hedges are provided in the following table. Reclassifications of amounts from accumulated other comprehensive income into income include accumulated gains (losses) on dedesignated hedges at the time earnings are impacted by the forecasted transactions. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) ​ ​ ​ ​ ​ ​ ​ Recognized in Other ​ Pretax Gain (Loss) Reclassified ​ ​ Comprehensive ​ from Accumulated Other ​ ​ Income on Derivative ​ Comprehensive Income into Income Three months ended March 31, 2020 (Millions) Amount Location Amount Foreign currency forward/option contracts ​ $ 79 Cost of sales ​ $ 18 ​ Interest rate contracts ​ (2) Interest expense ​ (2) ​ Total ​ $ 77 ​ ​ ​ $ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Amount Location Amount Foreign currency forward/option contracts ​ $ 30 Cost of sales ​ $ 7 ​ Interest rate contracts ​ (17) Interest expense ​ — ​ Total ​ $ 13 ​ ​ ​ $ 7 ​ ​ ​ Fair Value Hedges: ​ For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivatives as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. ​ Fair Value Hedging - Interest Rate Swaps: ​ Refer to the section below titled Statement of Income Location and Impact of Cash Flow and Fair Value Derivative Instruments ​ The following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Amount of Fair Value Hedging ​ ​ Carrying Value of the ​ Adjustment Included in the Carrying Value ​ ​ Hedged Liabilities (in millions) ​ of the Hedged Liabilities (in millions) Location on the Consolidated Balance Sheet March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 Short-term borrowings and current portion of long-term debt $ 500 ​ $ 499 $ — ​ $ — ​ Long-term debt ​ ​ 776 ​ ​ 775 ​ ​ 24 ​ ​ 22 ​ Total ​ $ 1,276 ​ $ 1,274 ​ $ 24 ​ $ 22 ​ ​ Net Investment Hedges: ​ The Company may use non-derivative (foreign currency denominated debt) and derivative (foreign exchange forward contracts) instruments to hedge portions of the Company’s investment in foreign subsidiaries and manage foreign exchange risk. For instruments that are designated and qualify as hedges of net investments in foreign operations and that meet the effectiveness requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in cumulative translation within other comprehensive income. Amounts excluded from the assessment of hedge effectiveness, including the time value of the forward contract at the inception of the hedge, are recognized in earnings using an amortization approach over the life of the hedging instrument on a straight-line basis. Any difference between the change in the fair value of the excluded component and the amount amortized into earnings during the period is recorded in cumulative translation within other comprehensive income. Recognition in earnings of amounts previously recorded in cumulative translation is limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. To the extent foreign currency denominated debt is not designated in or is dedesignated from a net investment hedge relationship, changes in value of that portion of foreign currency denominated debt due to exchange rate changes are recorded in earnings through their maturity date. ​ 3M’s use of foreign exchange forward contracts designated in hedges of the Company’s net investment in foreign subsidiaries can vary by time period depending on when foreign currency denominated debt balances designated in such relationships are dedesignated, matured, or are newly issued and designated. Additionally, variation can occur in connection with the extent of the Company’s desired foreign exchange risk coverage. ​ At March 31, 2020, the total notional amount of foreign exchange forward contracts designated in net investment hedges was approximately 200 million euros, along with a principal amount of long-term debt instruments designated in net investment hedges totaling 4.1 billion euros. The maturity dates of these derivative and nonderivative instruments designated in net investment hedges range from 2020 to 2031. ​ The location in the consolidated statements of income and comprehensive income and amounts of gains and losses related to derivative and nonderivative instruments designated as net investment hedges are as follows. There were no reclassifications of the effective portion of net investment hedges out of accumulated other comprehensive income into income for the periods presented in the table below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) ​ ​ ​ ​ ​ ​ ​ Recognized as ​ ​ ​ ​ ​ ​ ​ Cumulative Translation ​ Amount of Gain (Loss) Excluded ​ ​ within Other ​ from Effectiveness Testing ​ ​ Comprehensive Income ​ Recognized in Income Three months ended March 31, 2020 (Millions) Amount Location Amount Foreign currency denominated debt ​ $ 15 Cost of sales ​ $ — ​ Foreign currency forward contracts ​ 1 Cost of sales ​ 5 ​ Total ​ $ 16 ​ ​ ​ $ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Amount Location Amount Foreign currency denominated debt ​ $ 92 Cost of sales ​ $ — ​ Foreign currency forward contracts ​ ​ 15 ​ Cost of sales ​ ​ 5 ​ Total ​ $ 107 ​ ​ ​ $ 5 ​ ​ ​ Derivatives Not Designated as Hedging Instruments: ​ Derivatives not designated as hedging instruments include dedesignated foreign currency forward and option contracts that formerly were designated in cash flow hedging relationships (as referenced in the Cash Flow Hedges section above). In addition, 3M enters into foreign currency forward contracts to offset, in part, the impacts of certain intercompany activities and enters into commodity price swaps to offset, in part, fluctuations in costs associated with the use of certain commodities and precious metals. These derivative instruments are not designated in hedging relationships; therefore, fair value gains and losses on these contracts are recorded in earnings. The Company does not hold or issue derivative financial instruments for trading purposes. ​ The location in the consolidated statement of income and amounts of gains and losses related to derivative instruments not designated as hedging instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) on Derivative Recognized in ​ ​ Income Three months ended March 31, 2020 (Millions) Location Amount Foreign currency forward/option contracts Cost of sales ​ $ 4 ​ Foreign currency forward contracts Interest expense ​ (16) ​ Total ​ ​ ​ $ (12) ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Location Amount ​ Foreign currency forward/option contracts Cost of sales ​ $ (2) ​ Foreign currency forward contracts Interest expense ​ (8) ​ Total ​ ​ ​ $ (10) ​ ​ ​ Statement of Income Location and Impact of Cash Flow and Fair Value Derivative Instruments ​ The location in the consolidated statement of income and pre-tax amounts recognized in income related to derivative instruments designated in a cash flow or fair value hedging relationship are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location and Amount of Gain (Loss) Recognized in Income ​ Location and Amount of Gain (Loss) Recognized in Income ​ ​ ​ Three months ended March 31, 2020 ​ Three months ended March 31, 2019 ​ (Millions) ​ Cost of sales ​ Other expense ​ Cost of sales ​ Other expense ​ Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of cash flow or fair value hedges are recorded ​ $ 4,109 ​ $ 96 ​ $ 4,310 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The effects of fair value and cash flow hedging: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on cash flow hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ $ 18 ​ $ — ​ $ 7 ​ $ — ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on fair value hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedged items ​ $ — ​ $ (2) ​ $ — ​ $ (5) ​ Derivatives designated as hedging instruments ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location and Fair Value Amount of Derivative Instruments The following tables summarize the fair value of 3M’s derivative instruments, excluding nonderivative instruments used as hedging instruments, and their location in the consolidated balance sheet. Notional amounts below are presented at period end foreign exchange rates, except for certain interest rate swaps, which are presented using the inception date’s foreign exchange rate. Additional information with respect to the fair value of derivative instruments is included in Note 13. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair March 31, 2020 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,919 Other current assets ​ $ 94 Other current liabilities ​ $ 2 ​ Foreign currency forward/option contracts ​ 939 Other assets ​ 65 Other liabilities ​ 1 ​ Interest rate contracts ​ 500 Other current assets ​ — Other current liabilities ​ — ​ Interest rate contracts ​ 603 Other assets ​ 18 Other liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 177 ​ ​ ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 2,601 Other current assets ​ $ 28 Other current liabilities ​ $ 19 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 28 ​ ​ ​ $ 19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 205 ​ ​ ​ $ 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair December 31, 2019 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,995 Other current assets ​ $ 64 Other current liabilities ​ $ 9 ​ Foreign currency forward/option contracts ​ ​ 1,041 ​ Other assets ​ ​ 50 ​ Other liabilities ​ ​ 3 ​ Interest rate contracts ​ 500 Other current assets ​ — Other current liabilities ​ — ​ Interest rate contracts ​ 603 Other assets ​ 17 Other liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 131 ​ ​ ​ $ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 2,684 Other current assets ​ $ 11 Other current liabilities ​ $ 8 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 11 ​ ​ ​ $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 142 ​ ​ ​ $ 20 ​ ​ Credit Risk and Offsetting of Assets and Liabilities of Derivative Instruments ​ The Company is exposed to credit loss in the event of nonperformance by counterparties in interest rate swaps, currency swaps, commodity price swaps, and forward and option contracts. However, the Company’s risk is limited to the fair value of the instruments. The Company actively monitors its exposure to credit risk through the use of credit approvals and credit limits, and by selecting major international banks and financial institutions as counterparties. 3M enters into master netting arrangements with counterparties when possible to mitigate credit risk in derivative transactions. A master netting arrangement may allow each counterparty to net settle amounts owed between a 3M entity and the counterparty as a result of multiple, separate derivative transactions. As of March 31, 2020, 3M has International Swaps and Derivatives Association (ISDA) agreements with 17 applicable banks and financial institutions which contain netting provisions. In addition to a master agreement with 3M supported by a primary counterparty’s parent guarantee, 3M also has associated credit support agreements in place with 16 of its primary derivative counterparties which, among other things, provide the circumstances under which either party is required to post eligible collateral (when the market value of transactions covered by these agreements exceeds specified thresholds or if a counterparty’s credit rating has been downgraded to a predetermined rating). The Company does not anticipate nonperformance by any of these counterparties. ​ 3M has elected to present the fair value of derivative assets and liabilities within the Company’s consolidated balance sheet on a gross basis even when derivative transactions are subject to master netting arrangements and may otherwise qualify for net presentation. However, the following tables provide information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria in the event of default or termination as stipulated by the terms of netting arrangements with each of the counterparties. For each counterparty, if netted, the Company would offset the asset and liability balances of all derivatives at the end of the reporting period based on the 3M entity that is a party to the transactions. Derivatives not subject to master netting agreements are not eligible for net presentation. As of the applicable dates presented below, no cash collateral had been received or pledged related to these derivative instruments. ​ Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset in the ​ ​ ​ ​ ​ Consolidated Balance Sheet that are Subject ​ ​ ​ ​ Gross Amount of ​ to Master Netting Agreements ​ ​ ​ ​ ​ Derivative Assets ​ Gross Amount of ​ ​ ​ ​ ​ ​ Presented in the ​ Eligible Offsetting ​ Cash ​ ​ ​ ​ Consolidated ​ Recognized ​ Collateral ​ Net Amount of March 31, 2020 (Millions) ​ Balance Sheet ​ Derivative Liabilities ​ Received ​ Derivative Assets Derivatives subject to master netting agreements ​ $ 205 ​ $ 12 ​ $ — ​ $ 193 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 205 ​ ​ ​ ​ ​ ​ ​ $ 193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 142 ​ $ 14 ​ $ — ​ $ 128 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 142 ​ ​ ​ ​ ​ ​ ​ $ 128 ​ ​ Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset in the ​ ​ ​ ​ ​ Consolidated Balance Sheet that are Subject ​ ​ ​ ​ Gross Amount of ​ to Master Netting Agreements ​ ​ ​ ​ ​ Derivative Liabilities ​ Gross Amount of ​ ​ ​ ​ ​ ​ Presented in the ​ Eligible Offsetting ​ Cash ​ Net Amount of ​ ​ Consolidated ​ Recognized ​ Collateral ​ Derivative March 31, 2020 (Millions) ​ Balance Sheet ​ Derivative Assets ​ Pledged ​ Liabilities Derivatives subject to master netting agreements ​ $ 22 ​ $ 12 ​ $ — ​ $ 10 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 22 ​ ​ ​ ​ ​ ​ ​ $ 10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 20 ​ $ 14 ​ $ — ​ $ 6 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 20 ​ ​ ​ ​ ​ ​ ​ $ 6 ​ ​ Currency Effects ​ 3M estimates that year-on-year foreign currency transaction effects, including hedging impacts, decreased pre-tax income by approximately $1 million for the three months ended March 31, 2020. These estimates include transaction gains and losses, including derivative instruments designed to reduce foreign currency exchange rate risks.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Fair Value Measurements	NOTE 13. Fair Value Measurements ​ 3M follows ASC 820, Fair Value Measurements and Disclosures Changes to the Disclosure Requirements for Fair Value Measurement ​ In addition to the information above, refer to Note 15 in 3M’s 2019 Annual Report on Form 10-K for a qualitative discussion of the assets and liabilities that are measured at fair value on a recurring and nonrecurring basis, a description of the valuation methodologies used by 3M, and categorization within the valuation framework of ASC 820. ​ The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) March 31, 2020 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ $ 194 ​ $ — ​ $ 194 ​ $ — ​ Certificates of deposit/time deposits ​ 6 ​ — ​ 6 ​ — ​ U.S. municipal securities ​ 58 ​ — ​ 21 ​ 37 ​ Investments ​ ​ 18 ​ ​ 18 ​ ​ — ​ ​ — ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 187 ​ — ​ 187 ​ — ​ Interest rate contracts ​ 18 ​ — ​ 18 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 22 ​ — ​ 22 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) December 31, 2019 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ $ 85 ​ $ — ​ $ 85 ​ $ — ​ Certificates of deposit/time deposits ​ 10 ​ — ​ 10 ​ — ​ U.S. municipal securities ​ 46 ​ — ​ — ​ 46 ​ Investments ​ ​ 25 ​ ​ 25 ​ ​ — ​ ​ — ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 125 ​ — ​ 125 ​ — ​ Interest rate contracts ​ 17 ​ — ​ 17 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 20 ​ — ​ 20 ​ — ​ ​ The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis in the table above that used significant unobservable inputs (level 3). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Marketable securities — certain U.S. municipal securities only ​ March 31, (Millions) ​ 2020 2019 Beginning balance ​ $ 46 ​ $ 40 ​ Total gains or losses: ​ ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — ​ Included in other comprehensive income ​ — ​ — ​ Purchases and issuances ​ 10 ​ 9 ​ Sales and settlements ​ (19) ​ — ​ Transfers in and/or out of level 3 ​ — ​ — ​ Ending balance ​ $ 37 ​ $ 49 ​ Change in unrealized gains or losses for the period included in earnings for securities held at the end of the reporting period ​ — ​ — ​ ​ In addition, the plan assets of 3M’s pension and postretirement benefit plans are measured at fair value on a recurring basis (at least annually). Refer to Note 13 in 3M’s 2019 Annual Report on Form 10-K. ​ Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis: ​ Disclosures are required for certain assets and liabilities that are measured at fair value, but are recognized and disclosed at fair value on a nonrecurring basis in periods subsequent to initial recognition. For 3M, such measurements of fair value relate primarily to indefinite-lived and long-lived asset impairments, goodwill impairments, and adjustment in carrying value of equity securities for which the measurement alternative of cost less impairment plus or minus observable price changes is used. 3M reflected an immaterial charge related to impairment of certain indefinite-lived assets and a net charge of $22 million related to adjustment to the carrying value of equity securities using the measurement alternative during the three months ended March 31, 2020. There were no material impairments of assets or adjustments to equity securities using the measurement alternative for the three months ended March 31, 2019. ​ Fair Value of Financial Instruments: ​ The Company’s financial instruments include cash and cash equivalents, marketable securities, held-to-maturity debt securities, accounts receivable, certain investments, accounts payable, borrowings, and derivative contracts. The fair values of cash equivalents, accounts receivable, held-to-maturity debt securities, accounts payable, and short-term borrowings and current portion of long-term debt approximated carrying values because of the short-term nature of these instruments. Available-for-sale marketable securities, in addition to certain derivative instruments, are recorded at fair values as indicated in the preceding disclosures. To estimate fair values (classified as level 2) for its long-term debt, the Company utilized third-party quotes, which are derived all or in part from model prices, external sources, market prices, or the third-party’s internal records. Information with respect to the carrying amounts and estimated fair values of these financial instruments follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Carrying Fair Carrying Fair (Millions) ​ Value ​ Value ​ Value ​ Value Long-term debt, excluding current portion ​ $ 19,247 ​ $ 20,226 ​ $ 17,518 ​ $ 18,475 ​ ​ The fair values reflected above consider the terms of the related debt absent the impacts of derivative/hedging activity. The carrying amount of long-term debt referenced above is impacted by certain fixed-to-floating interest rate swaps that are designated as fair value hedges and by the designation of certain fixed rate Eurobond securities issued by the Company as hedging instruments of the Company’s net investment in its European subsidiaries. A number of 3M’s fixed-rate bonds were trading at a premium at March 31, 2020 and December 31, 2019 due to lower interest rates compared to issuance levels.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies
Commitments and Contingencies	NOTE 14. Commitments and Contingencies ​ Legal Proceedings: ​ The Company and some of its subsidiaries are involved in numerous claims and lawsuits, principally in the United States, and regulatory proceedings worldwide. These claims, lawsuits and proceedings include, but are not limited to, products liability (involving products that the Company now or formerly manufactured and sold), intellectual property, commercial, antitrust, federal False Claims Act, securities, and state and federal environmental laws. Unless otherwise stated, the Company is vigorously defending all such litigation and proceedings. From time to time, the Company also receives subpoenas or requests for information from various government agencies. The Company generally responds to such subpoenas and requests in a cooperative, thorough and timely manner. These responses sometimes require time and effort and can result in considerable costs being incurred by the Company. Such subpoenas and requests can also lead to the assertion of claims or the commencement of administrative, civil or criminal legal proceedings against the Company and others, as well as to settlements. The outcomes of legal proceedings and regulatory matters are often difficult to predict. Any determination that the Company’s operations or activities are not, or were not, in compliance with applicable laws or regulations could result in the imposition of fines, civil or criminal penalties, and equitable remedies, including disgorgement, suspension or debarment or injunctive relief. Additional information about the Company’s process for disclosure and recording of liabilities and insurance receivables related to legal proceedings can be found in Note 16 “Commitments and Contingencies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. ​ The following sections first describe the significant legal proceedings in which the Company is involved, and then describe the liabilities and associated insurance receivables the Company has accrued relating to its significant legal proceedings. ​ Respirator Mask/Asbestos Litigation ​ As of March 31, 2020, the Company is a named defendant, with multiple co-defendants, in numerous lawsuits in various courts that purport to represent approximately 1,733 individual claimants, compared to approximately 1,727 individual claimants with actions pending on December 31, 2019. ​ The vast majority of the lawsuits and claims resolved by and currently pending against the Company allege use of some of the Company’s mask and respirator products and seek damages from the Company and other defendants for alleged personal injury from workplace exposures to asbestos, silica, coal mine dust or other occupational dusts found in products manufactured by other defendants or generally in the workplace. A minority of the lawsuits and claims resolved by and currently pending against the Company generally allege personal injury from occupational exposure to asbestos from products previously manufactured by the Company, which are often unspecified, as well as products manufactured by other defendants, or occasionally at Company premises. ​ The Company’s current volume of new and pending matters is substantially lower than it experienced at the peak of filings in 2003. The Company expects that filing of claims by unimpaired claimants in the future will continue to be at much lower levels than in the past. Accordingly, the number of claims alleging more serious injuries, including mesothelioma, other malignancies, and black lung disease, will represent a greater percentage of total claims than in the past. Over the past twenty ​ The Company has demonstrated in these past trial proceedings that its respiratory protection products are effective as claimed when used in the intended manner and in the intended circumstances. Consequently, the Company believes that claimants are unable to establish that their medical conditions, even if significant, are attributable to the Company’s respiratory protection products. Nonetheless, the Company’s litigation experience indicates that claims of persons alleging more serious injuries, including mesothelioma, other malignancies, and black lung disease, are costlier to resolve than the claims of unimpaired persons, and it therefore believes the average cost of resolving pending and future claims on a per-claim basis will continue to be higher than it experienced in prior periods when the vast majority of claims were asserted by medically unimpaired claimants. ​ As previously reported, the State of West Virginia, through its Attorney General, filed a complaint in 2003 against the Company and two other manufacturers of respiratory protection products in the Circuit Court of Lincoln County, West Virginia, and amended its complaint in 2005. The amended complaint seeks substantial, but unspecified, compensatory damages primarily for reimbursement of the costs allegedly incurred by the State for worker’s compensation and healthcare benefits provided to all workers with occupational pneumoconiosis and unspecified punitive damages. In October 2019, the court granted the State’s motion to sever its unfair trade practices claim. In January 2020, the manufacturers filed a petition with the West Virginia Supreme Court, challenging the trial court’s rulings. No liability has been recorded for this matter because the Company believes that liability is not probable and estimable at this time. In addition, the Company is not able to estimate a possible loss or range of loss given the lack of any meaningful discovery responses by the State of West Virginia, the otherwise minimal activity in this case, and the assertions of claims against two other manufacturers where a defendant’s share of liability may turn on the law of joint and several liability and by the amount of fault, if any, a jury may allocate to each defendant if the case were ultimately tried. ​ Respirator Mask/Asbestos Liabilities and Insurance Receivables ​ The Company regularly conducts a comprehensive legal review of its respirator mask/asbestos liabilities. The Company reviews recent and historical claims data, including without limitation, (i) the number of pending claims filed against the Company, (ii) the nature and mix of those claims (i.e., the proportion of claims asserting usage of the Company’s mask or respirator products and alleging exposure to each of asbestos, silica, coal or other occupational dusts, and claims pleading use of asbestos-containing products allegedly manufactured by the Company), (iii) the costs to defend and resolve pending claims, and (iv) trends in filing rates and in costs to defend and resolve claims, (collectively, the “Claims Data”). As part of its comprehensive legal review, the Company regularly provides the Claims Data to a third party with expertise in determining the impact of Claims Data on future filing trends and costs. The third party assists the Company in estimating the costs to defend and resolve pending and future claims. The Company uses these estimates to develop its best estimate of probable liability. ​ Developments may occur that could affect the Company’s estimate of its liabilities. These developments include, but are not limited to, significant changes in (i) the key assumptions underlying the Company’s accrual, including, the number of future claims, the nature and mix of those claims, the average cost of defending and resolving claims, and in maintaining trial readiness (ii) trial and appellate outcomes, (iii) the law and procedure applicable to these claims, and (iv) the financial viability of other co-defendants and insurers. ​ As a result of its review of its respirator mask/asbestos liabilities, of pending and expected lawsuits and of the cost of resolving claims of persons who claim more serious injuries, including mesothelioma, other malignancies, and black lung disease, the Company increased its accruals in the first three months of 2020 for respirator mask/asbestos liabilities by $8 million. In the first three months of 2020, the Company made payments for legal defense costs and settlements of $27 million related to the respirator mask/asbestos litigation. During the first quarter of 2019, the Company recorded a pre-tax charge of $313 million in conjunction with an increase in the accrual as a result of the March and April 2019 settlements-in-principle of the coal mine dust lawsuits mentioned above and the Company’s assessment of other current and expected coal mine dust lawsuits (including the costs to resolve all current and expected coal mine dust lawsuits in Kentucky and West Virginia). As of March 31, 2020, the Company had an accrual for respirator mask/asbestos liabilities (excluding Aearo accruals) of $589 million. This accrual represents the Company’s best estimate of probable loss and reflects an estimation period for future claims that may be filed against the Company approaching the year 2050. The Company cannot estimate the amount or upper end of the range of amounts by which the liability may exceed the accrual the Company has established because of the (i) inherent difficulty in projecting the number of claims that have not yet been asserted or the time period in which future claims may be asserted, (ii) the complaints nearly always assert claims against multiple defendants where the damages alleged are typically not attributed to individual defendants so that a defendant’s share of liability may turn on the law of joint and several liability, which can vary by state, (iii) the multiple factors described above that the Company considers in estimating its liabilities, and (iv) the several possible developments described above that may occur that could affect the Company’s estimate of liabilities. ​ As of March 31, 2020, the Company’s receivable for insurance recoveries related to the respirator mask/asbestos litigation was $4 million. The Company continues to seek coverage under the policies of certain insolvent and other insurers. Once those claims for coverage are resolved, the Company will have collected substantially all of its remaining insurance coverage for respirator mask/asbestos claims. ​ Respirator Mask/Asbestos Litigation — Aearo Technologies ​ On April 1, 2008, a subsidiary of the Company acquired the stock of Aearo Holding Corp., the parent of Aearo Technologies (“Aearo”). Aearo manufactured and sold various products, including personal protection equipment, such as eye, ear, head, face, fall and certain respiratory protection products. ​ As of March 31, 2020, Aearo and/or other companies that previously owned and operated Aearo’s respirator business (American Optical Corporation, Warner-Lambert LLC, AO Corp. and Cabot Corporation (“Cabot”)) are named defendants, with multiple co-defendants, including the Company, in numerous lawsuits in various courts in which plaintiffs allege use of mask and respirator products and seek damages from Aearo and other defendants for alleged personal injury from workplace exposures to asbestos, silica-related, coal mine dust, or other occupational dusts found in products manufactured by other defendants or generally in the workplace. ​ As of March 31, 2020, the Company, through its Aearo subsidiary, had accruals of $58 million for product liabilities and defense costs related to current and future Aearo-related asbestos and silica-related claims. This accrual represents the Company’s best estimate of Aearo’s probable loss and reflects an estimation period for future claims that may be filed against Aearo approaching the year 2050. The accrual was increased by $9 million during the three months ended March 31, 2020, reflecting the Company’s assessment of pending and expected lawsuits, its review of its respirator mask/asbestos liabilities, and the cost of resolving claims of persons who claim more serious injuries. Responsibility for legal costs, as well as for settlements and judgments, is currently shared in an informal arrangement among Aearo, Cabot, American Optical Corporation and a subsidiary of Warner Lambert and their respective insurers (the “Payor Group”). Liability is allocated among the parties based on the number of years each company sold respiratory products under the “AO Safety” brand and/or owned the AO Safety Division of American Optical Corporation and the alleged years of exposure of the individual plaintiff. Aearo’s share of the contingent liability is further limited by an agreement entered into between Aearo and Cabot on July 11, 1995. This agreement provides that, so long as Aearo pays to Cabot a quarterly fee of $100,000, Cabot will retain responsibility and liability for, and indemnify Aearo against, any product liability claims involving exposure to asbestos, silica, or silica products for respirators sold prior to July 11, 1995. Because of the difficulty in determining how long a particular respirator remains in the stream of commerce after being sold, Aearo and Cabot have applied the agreement to claims arising out of the alleged use of respirators involving exposure to asbestos, silica or silica products prior to January 1, 1997. With these arrangements in place, Aearo’s potential liability is limited to exposures alleged to have arisen from the use of respirators involving exposure to asbestos, silica, or silica products on or after January 1, 1997. To date, Aearo has elected to pay the quarterly fee. Aearo could potentially be exposed to additional claims for some part of the pre-July 11, 1995 period covered by its agreement with Cabot if Aearo elects to discontinue its participation in this arrangement, or if Cabot is no longer able to meet its obligations in these matters. ​ Developments may occur that could affect the estimate of Aearo’s liabilities. These developments include, but are not limited to: (i) significant changes in the number of future claims, (ii) significant changes in the average cost of resolving claims, (iii) significant changes in the legal costs of defending these claims, (iv) significant changes in the mix and nature of claims received, (v) trial and appellate outcomes, (vi) significant changes in the law and procedure applicable to these claims, (vii) significant changes in the liability allocation among the co-defendants, (viii) the financial viability of members of the Payor Group including exhaustion of available insurance coverage limits, and/or (ix) a determination that the interpretation of the contractual obligations on which Aearo has estimated its share of liability is inaccurate. The Company cannot determine the impact of these potential developments on its current estimate of Aearo’s share of liability for these existing and future claims. If any of the developments described above were to occur, the actual amount of these liabilities for existing and future claims could be significantly larger than the amount accrued. ​ Because of the inherent difficulty in projecting the number of claims that have not yet been asserted, the complexity of allocating responsibility for future claims among the Payor Group, and the several possible developments that may occur that could affect the estimate of Aearo’s liabilities, the Company cannot estimate the amount or range of amounts by which Aearo’s liability may exceed the accrual the Company has established. ​ Environmental Matters and Litigation ​ The Company’s operations are subject to environmental laws and regulations including those pertaining to air emissions, wastewater discharges, toxic substances, and the handling and disposal of solid and hazardous wastes enforceable by national, state, and local authorities around the world, and private parties in the United States and abroad. These laws and regulations provide, under certain circumstances, a basis for the remediation of contamination, for capital investment in pollution control equipment, for restoration of or compensation for damages to natural resources, and for personal injury and property damage claims. The Company has incurred, and will continue to incur, costs and capital expenditures in complying with these laws and regulations, defending personal injury and property damage claims, and modifying its business operations in light of its environmental responsibilities. In its effort to satisfy its environmental responsibilities and comply with environmental laws and regulations, the Company has established, and periodically updates, policies relating to environmental standards of performance for its operations worldwide. ​ Under certain environmental laws, including the United States Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and similar state laws, the Company may be jointly and severally liable, typically with other companies, for the costs of remediation of environmental contamination at current or former facilities and at off-site locations. The Company has identified numerous locations, most of which are in the United States, at which it may have some liability. Please refer to the section entitled “ Environmental Liabilities and Insurance Receivables” ​ Environmental Matters ​ As previously reported, the Company has been voluntarily cooperating with ongoing reviews by local, state, federal (primarily the U.S. Environmental Protection Agency (EPA)), and international agencies of possible environmental and health effects of various perfluorinated compounds, including perfluorooctanoate (“PFOA”), perfluorooctane sulfonate (“PFOS”), perfluorohexane sulfonate (“PFHxS”), or other per- and polyfluoroalkyl substances (collectively “PFAS”). As a result of its phase-out decision in May 2000, the Company no longer manufactures certain PFAS compounds including PFOA, PFOS, PFHxS, and their pre-cursor compounds. The Company ceased manufacturing and using the vast majority of these compounds within approximately two years of the phase-out announcement and ceased all manufacturing and the last significant use of this chemistry by the end of 2008. The Company continues to manufacture a variety of shorter chain length PFAS compounds, including, but not limited to, pre-cursor compounds to perfluorobutane sulfonate (“PFBS”). These compounds are used as input materials to a variety of products, including engineered fluorinated fluids, fluoropolymers and fluorelastomers, as well as surfactants, additives, and coatings. Through its ongoing life cycle management and its raw material composition identification processes associated with the Company’s policies covering the use of all persistent and bio-accumulative materials, the Company continues to review, control or eliminate the presence of certain PFAS in purchased materials or as byproducts in some of 3M’s current fluorochemical manufacturing processes, products, and waste streams. ​ Regulatory activities concerning PFAS continue in the United States, Europe and elsewhere, and before certain international bodies. These activities include gathering of exposure and use information, risk assessment, and consideration of regulatory approaches. As the database of studies of both PFOA and PFOS has expanded, the EPA has developed human health effects documents summarizing the available data from these studies. In February 2014, the EPA initiated external peer review of its draft human health effects documents for PFOA and PFOS. The peer review panel met in August 2014. In May 2016, the EPA announced lifetime health advisory levels for PFOA and PFOS at 70 parts per trillion (ppt) (superseding the provisional levels established by the EPA in 2009 of 400 ppt for PFOA and 200 ppt for PFOS). Where PFOA and PFOS are found together, EPA recommends that the concentrations be added together, and the lifetime health advisory for PFOA and PFOS combined is also 70 ppt. Lifetime health advisories, which are non-enforceable and non-regulatory, provide information about concentrations of drinking water contaminants at which adverse health effects are not expected to occur over the specified exposure duration. To collect exposure information under the Safe Drinking Water Act, the EPA published on May 2, 2012 a list of unregulated substances, including six PFAS chemicals, required to be monitored during the period 2013-2015 by public water system suppliers to determine the extent of their occurrence. Through January 2017, the EPA reported results for 4,920 public water supplies nationwide. Based on the 2016 lifetime health advisory, 13 public water supplies exceed the level for PFOA and 46 exceed the level for PFOS (unchanged from the July 2016 EPA summary). A technical advisory issued by EPA in September 2016 on laboratory analysis of drinking water samples stated that 65 public water supplies had exceeded the combined level for PFOA and PFOS. These results are based on one or more samples collected during the period 2012-2015 and do not necessarily reflect current conditions of these public water supplies. EPA reporting does not identify the sources of the PFOA and PFOS in the public water supplies. ​ The Company is continuing to make progress in its work, under the supervision of state regulators, to remediate historic disposal of PFAS-containing waste associated with manufacturing operations at its Decatur, Alabama; Cottage Grove, Minnesota; and Cordova, Illinois plants. As previously reported, the Company entered into a voluntary remedial action agreement with the Alabama Department of Environmental Management (ADEM) to remediate the presence of PFAS in the soil and groundwater at the Company’s manufacturing facility in Decatur, Alabama associated with the historic (1978-1998) incorporation of wastewater treatment plant sludge. With ADEM’s agreement, 3M is installing a multilayer cap on the former sludge incorporation areas and implementing groundwater migration controls and treatment. ​ The Company continues to work with the Minnesota Pollution Control Agency (MPCA) pursuant to the terms of the previously disclosed May 2007 Settlement Agreement and Consent Order to address the presence of certain PFAS in the soil and groundwater at former disposal sites in Washington County, Minnesota (Oakdale and Woodbury) and at the Company’s manufacturing facility at Cottage Grove, Minnesota. Under this agreement, the Company’s principal obligations include (i) evaluating releases of certain PFAS from these sites and proposing response actions; (ii) providing treatment or alternative drinking water upon identifying any level exceeding a Health Based Value (“HBV”) or Health Risk Limit (“HRL”) (i.e., the amount of a chemical in drinking water determined by the Minnesota Department of Health (MDH) to be safe for human consumption over a lifetime) for certain PFAS for which a HBV and/or HRL exists as a result of contamination from these sites; (iii) remediating identified sources of other PFAS at these sites that are not controlled by actions to remediate PFOA and PFOS; and (iv) sharing information with the MPCA about certain perfluorinated compounds. During 2008, the MPCA issued formal decisions adopting remedial options for the former disposal sites in Washington County, Minnesota (Oakdale and Woodbury). In August 2009, the MPCA issued a formal decision adopting remedial options for the Company’s Cottage Grove manufacturing facility. During the spring and summer of 2010, 3M began implementing the agreed upon remedial options at the Cottage Grove and Woodbury sites. 3M commenced the remedial option at the Oakdale site in late 2010. At each location the remedial options were recommended by the Company and approved by the MPCA. Remediation work has been completed at the Oakdale and Woodbury sites, and they are in an operational maintenance mode. Remediation work has been substantially completed at the Cottage Grove site, with operational and maintenance activities ongoing. ​ In August 2014, the Illinois EPA approved a request by the Company to establish a groundwater management zone at its manufacturing facility in Cordova, Illinois, which includes ongoing pumping of impacted site groundwater, groundwater monitoring and routine reporting of results. ​ In May 2017, the MDH issued new HBVs for PFOS and PFOA. The new HBVs are 35 ppt for PFOA and 27 ppt for PFOS. In connection with its announcement the MDH stated that “Drinking water with PFOA and PFOS, even at the levels above the updated values, does not represent an immediate health risk. These values are designed to reduce long-term health risks across the population and are based on multiple safety factors to protect the most vulnerable citizens, which makes them overprotective for most of the residents in our state.” In December 2017, the MDH issued a new HBV for perfluorobutane sulfonate (PFBS) of 2 parts per billion (ppb). In February 2018, the MDH published reports finding no unusual rates of certain cancers or adverse birth outcomes (low birth rates or premature births) among residents of Washington and Dakota Counties in Minnesota. In April 2019, the MDH issued a new HBV for PFOS of 15 ppt and a new HBV for PFHxS of 47 ppt. ​ In May 2018, the EPA announced a four-step PFAS action plan, which includes evaluating the need to set Safe Drinking Water Act maximum contaminant levels (MCLs) for PFOA and PFOS and beginning the steps necessary to designate PFOA and PFOS as “hazardous substances” under CERCLA. In November 2018, the EPA asked for public comment on draft toxicity assessments for two PFAS compounds, including PFBS. In February 2019, the EPA issued a PFAS Action Plan that outlines short- and long-term actions the EPA is taking to address PFAS – actions that include developing a national drinking water determination for PFOA and PFOS, strengthening enforcement authorities and evaluating cleanup approaches, nationwide drinking water monitoring for PFAS, expanding scientific knowledge for understanding and managing risk from PFAS, and developing consistent risk communication tools for communicating with other agencies and the public. With respect to groundwater contaminated with PFOA and PFOS, the EPA issued interim recommendations in December 2019, providing guidance for screening levels and preliminary remediation goals for groundwater that is a current or potential drinking water source, to inform final clean-up levels of contaminated sites. In February 2020, the EPA provided notice and requested public comment on certain preliminary determinations to regulate PFOA and PFOS under the Safe Drinking Water Act (SDWA). ​ The U.S. ​ Several state legislatures and state agencies have been evaluating or have taken actions related to cleanup standards, groundwater values or drinking water values for PFOS, PFOA, and other PFAS, and 3M has submitted various responsive comments. In September 2019, 3M and several other parties filed a lawsuit in New Hampshire state court to enjoin new PFAS regulations in New Hampshire. In November 2019, the court issued a preliminary injunction preventing the regulations from being enforced. In April 2020, the New Hampshire supreme court agreed to review several issues related to the preliminary injunctive order. ​ The Company cannot predict what additional regulatory actions arising from the foregoing or other proceedings and activities, if any, may be taken regarding such compounds or the consequences of any such actions. ​ Litigation Related to Historical PFAS Manufacturing Operations in Alabama ​ As previously reported, a former employee filed a putative class action lawsuit against 3M, BFI Waste Management Systems of Alabama, and others in the Circuit Court of Morgan County, Alabama (the “St. John” case), seeking property damage from exposure to certain perfluorochemicals at or near the Company’s Decatur, Alabama, manufacturing facility. The parties have agreed to continue to stay the St. John case through April 2020, pending ongoing mediation between the parties involved in this case and another case discussed below. Two additional putative class actions filed in the same court by certain residents in the vicinity of the Decatur plant seeking relief on similar grounds (the Chandler case and the Stover case, respectively) are stayed pending the resolution of class certification issues in the St. John case. ​ In October 2015, West Morgan-East Lawrence Water & Sewer Authority (Water Authority) filed an individual complaint against 3M Company, Dyneon, L.L.C, and Daikin America, Inc., in the U.S. District Court for the Northern District of Alabama. The complaint also includes representative plaintiffs who brought the complaint on behalf of themselves, and a class of all owners and possessors of property who use water provided by the Water Authority and five local water works to which the Water Authority supplies water (collectively, the “Water Utilities”). The complaint seeks compensatory and punitive damages and injunctive relief based on allegations that the defendants’ chemicals, including PFOA and PFOS from their manufacturing processes in Decatur, have contaminated the water in the Tennessee River at the water intake, and that the chemicals cannot be removed by the water treatment processes utilized by the Water Authority. In April 2019, 3M and the Water Authority settled the lawsuit for $35 million, which will fund a new water filtration system, with 3M indemnifying the Water Authority from liability resulting from the resolution of the currently pending and future lawsuits against the Water Authority alleging liability or damages related to 3M PFAS. The putative class claims brought by the representative plaintiffs who were supplied drinking water by the Water Authority (the “Lindsey” case) remain, with a trial set for October 2020. 3M has filed its opposition to class certification and a motion for summary judgment. Discovery is ongoing. ​ In June 2016, the Tennessee Riverkeeper, Inc. (Riverkeeper), a non-profit corporation, filed a lawsuit in the U.S. District Court for the Northern District of Alabama against 3M; BFI Waste Systems of Alabama; the City of Decatur, Alabama; and the Municipal Utilities Board of Decatur, Morgan County, Alabama. The complaint alleges that the defendants violated the Resource Conservation and Recovery Act in connection with the disposal of certain PFAS through their ownership and operation of their respective sites. The complaint further alleges such practices may present an imminent and substantial endangerment to health and/or the environment and that Riverkeeper has suffered and will continue to suffer irreparable harm caused by defendants’ failure to abate the endangerment unless the court grants the requested relief, including declaratory and injunctive relief. This case has been stayed through April 2020, pending ongoing mediation between the parties in conjunction with the St. John case. ​ In August 2016, a group of over 200 plaintiffs filed a putative class action against West Morgan-East Lawrence Water and Sewer Authority (Water Authority), 3M, Dyneon, Daikin, BFI, and the City of Decatur in state court in Lawrence County, Alabama (the “Billings” case). Plaintiffs are residents of Lawrence, Morgan and other counties who are or have been customers of the Water Authority. They contend defendants have released PFAS that contaminate the Tennessee River and, in turn, their drinking water, causing damage to their health and properties. In January 2017, the court in the St. John case, discussed above, stayed this litigation pending resolution of the St. John case. ​ In January 2017, several hundred plaintiffs sued 3M, its subsidiary Dyneon, and Daikin America in Lawrence and Morgan Counties, Alabama (the “Owens” case). The plaintiffs are owners of property, residents, and holders of property interests who receive their water from the West Morgan-East Lawrence Water and Sewer Authority (Water Authority). They assert common law claims for negligence, nuisance, trespass, wantonness, and battery, and they seek injunctive relief and punitive damages. The plaintiffs contend that the defendants own and operate manufacturing and disposal facilities in Decatur that have released and continue to release PFOA, PFOS and related chemicals into the groundwater and surface water of their sites, resulting in discharges into the Tennessee River. The plaintiffs contend that, as a result of the alleged discharges, the water supplied by the Water Authority to the plaintiffs was, and is, contaminated with PFOA, PFOS, and related chemicals at a level dangerous to humans. The court denied a motion by co-defendant Daikin to stay this case pending resolution of the St. John case, and the case is progressing through discovery. ​ In November

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation
Stock-Based Compensation	NOTE 15. Stock-Based Compensation ​ The 3M 2016 Long-Term Incentive Plan provides for the issuance or delivery of up to 123,965,000 shares of 3M common stock pursuant to awards granted under the plan. Awards may be issued in the form of incentive stock options, nonqualified stock options, progressive stock options, stock appreciation rights, restricted stock, restricted stock units, other stock awards, and performance units and performance shares. As of March 31, 2020, the remaining shares available for grant under the LTIP Program are 15.7 million. ​ The Company’s annual stock option and restricted stock unit grant is made in February to provide a strong and immediate link between the performance of individuals during the preceding year and the size of their annual stock compensation grants. The grant to eligible employees uses the closing stock price on the grant date. Accounting rules require recognition of expense under a non-substantive vesting period approach, requiring compensation expense recognition when an employee is eligible to retire. Employees are considered eligible to retire at age 55 and after having completed ten years of service. This retiree-eligible population represents 35 percent of the annual grant stock-based compensation expense; therefore, higher stock-based compensation expense is recognized in the first quarter. ​ In addition to the annual grants, the Company makes other minor grants of stock options, restricted stock units and other stock-based grants. The Company issues cash settled restricted stock units and stock appreciation rights in certain countries. These grants do not result in the issuance of common stock and are considered immaterial by the Company. ​ Amounts recognized in the financial statements with respect to stock-based compensation programs, which include stock options, restricted stock, restricted stock units, performance shares and the General Employees’ Stock Purchase Plan (GESPP), are provided in the following table. Capitalized stock-based compensation amounts were not material for the three months ended March 31, 2020 and 2019. ​ Stock-Based Compensation Expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ (Millions) 2020 2019 Cost of sales ​ $ 22 ​ $ 22 ​ Selling, general and administrative expenses ​ 73 ​ 82 ​ Research, development and related expenses ​ 25 ​ 26 ​ Stock-based compensation expenses ​ $ 120 ​ $ 130 ​ Income tax benefits ​ ​ (39) ​ ​ (80) ​ Stock-based compensation expenses (benefits), net of tax ​ $ 81 ​ $ 50 ​ ​ Stock Option Program ​ The following table summarizes stock option activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ Weighted Remaining Aggregate ​ ​ ​ Number of ​ Average ​ Contractual ​ Intrinsic Value ​ (Options in thousands) ​ Options ​ Exercise Price ​ Life (months) ​ (millions) ​ Under option — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 33,675 ​ $ 151.15 ​ ​ ​ ​ Granted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual 4,741 ​ 157.26 ​ ​ ​ Exercised (1,159) ​ 87.25 ​ ​ ​ Forfeited (41) ​ 193.77 ​ ​ ​ March 31 37,216 ​ $ 153.87 70 ​ $ 359 Options exercisable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31 29,173 ​ $ 146.86 58 ​ $ 359 ​ Stock options vest over a period from one year to three years with the expiration date at 10 years from date of grant. As of March 31, 2020, there was $107 million of compensation expense that has yet to be recognized related to non-vested stock option based awards. This expense is expected to be recognized over the remaining weighted-average vesting period of 25 months. The total intrinsic values of stock options exercised were $98 million and $235 million during the three months ended March 31, 2020 and 2019, respectively. Cash received from options exercised was $100 million and $162 million for the three months ended March 31, 2020 and 2019, respectively. The Company’s actual tax benefits realized for the tax deductions related to the exercise of employee stock options were $20 million and $49 million for the three months ended March 31, 2020 and 2019, respectively. ​ For the primary 2020 annual stock option grant, the weighted average fair value at the date of grant was calculated using the Black-Scholes option-pricing model and the assumptions that follow. ​ Stock Option Assumptions ​ ​ ​ ​ ​ ​ ​ ​ Annual ​ ​ 2020 ​ Exercise price ​ $ 157.24 ​ Risk-free interest rate ​ 1.5 % Dividend yield ​ 2.7 % Expected volatility ​ 19.7 % Expected life (months) ​ 78 ​ Black-Scholes fair value ​ $ 21.58 ​ ​ Expected volatility is a statistical measure of the amount by which a stock price is expected to fluctuate during a period. For the 2020 annual grant date, the Company estimated the expected volatility based upon the following three volatilities of 3M stock: the median of the term of the expected life rolling volatility; the median of the most recent term of the expected life volatility; and the implied volatility on the grant date. The expected term assumption is based on the weighted average of historical grants. ​ Restricted Stock and Restricted Stock Units ​ The following table summarizes restricted stock and restricted stock unit activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Nonvested balance — ​ ​ ​ ​ ​ ​ As of January 1 1,573 ​ $ 201.11 ​ Granted ​ ​ ​ ​ ​ ​ Annual 733 ​ 157.29 ​ Other 10 ​ 175.81 ​ Vested (553) ​ 176.16 ​ Forfeited (16) ​ 193.91 ​ As of March 31 1,747 ​ $ 190.55 ​ ​ As of March 31, 2020, there was $132 million of compensation expense that has yet to be recognized related to non-vested restricted stock and restricted stock units. This expense is expected to be recognized over the remaining weighted-average vesting period of 27 months. The total fair value of restricted stock and restricted stock units that vested during the three months ended March 31, 2020 and 2019 was $88 million and $133 million, respectively. The Company’s actual tax benefits realized for the tax deductions related to the vesting of restricted stock and restricted stock units was $16 million and $26 million for the three months ended March 31, 2020 and 2019, respectively. ​ Restricted stock units granted generally vest three years following the grant date assuming continued employment. Dividend equivalents equal to the dividends payable on the same number of shares of 3M common stock accrue on these restricted stock units during the vesting period, although no dividend equivalents are paid on any of these restricted stock units that are forfeited prior to the vesting date. Dividends are paid out in cash at the vest date on restricted stock units. Since the rights to dividends are forfeitable, there is no impact on basic earnings per share calculations. Weighted average restricted stock unit shares outstanding are included in the computation of diluted earnings per share. ​ Performance Shares ​ Instead of restricted stock units, the Company makes annual grants of performance shares to members of its executive management. The 2020 performance criteria for these performance shares (organic volume growth, return on invested capital, free cash flow conversion, and earnings per share growth) were selected because the Company believes that they are important drivers of long-term stockholder value. The number of shares of 3M common stock that could actually be delivered at the end of the three-year three-year one ​ The following table summarizes performance share activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Undistributed balance — ​ ​ ​ ​ ​ ​ As of January 1 444 ​ $ 205.58 ​ Granted 191 ​ 153.02 ​ Distributed (206) ​ 190.84 ​ Performance change 10 ​ 116.06 ​ Forfeited (0) ​ 231.34 ​ As of March 31 439 ​ $ 187.50 ​ ​ As of March 31, 2020, there was $40 million of compensation expense that has yet to be recognized related to performance shares. This expense is expected to be recognized over the remaining weighted-average earnings period of 23 months. The total fair value of performance shares that were distributed were $35 million and $45 million for the three months ended March 31, 2020 and 2019, respectively. The Company’s actual tax benefits realized for the tax deductions related to the distribution of performance shares were $7 million and $9 million for the three months ended March 31, 2020 and 2019, respectively.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2020
Business Segments and Geographic Information
Business Segments and Geographic Information	NOTE 16. Business Segments ​ 3M’s businesses are organized, managed and internally grouped into segments based on differences in markets, products, technologies and services. 3M manages its operations in four business segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. 3M’s four business segments bring together common or related 3M technologies, enhancing the development of innovative products and services and providing for efficient sharing of business resources. Transactions among reportable segments are recorded at cost. 3M is an integrated enterprise characterized by substantial intersegment cooperation, cost allocations and inventory transfers. Therefore, management does not represent that these segments, if operated independently, would report the operating income information shown. The difference between operating income and pre-tax income relates to other expense (income), which is not allocated to business segments. Further information about which is included in Note 6. ​ Effective in the first quarter of 2020, in a continuing effort to improve the alignment of its businesses around customers and markets, the Company made the following changes: ​ Continued alignment of customer account activity ● As part of 3M’s regular customer-focus initiatives, the Company realigned certain customer account activity (“sales district”) to correlate with the primary divisional product offerings in various countries and reduce complexity for customers when interacting with multiple 3M businesses. This largely impacted the amount of dual credit certain business segments receive as a result of sales district attribution. 3M business segment reporting measures include dual credit to business segments for certain sales and operating income. This dual credit is based on which business segment provides customer account activity with respect to a particular product sold in a specific country. As a result, previously reported aggregate business segment net sales and operating income for the total year 2019 decreased $42 million and $10 million, respectively, offset by corresponding decreases in the “Elimination of Dual Credit” net sales and operating income amounts. ​ Additional actions impacting product line alignments ● The remaining retail auto care product lines formerly in the Automotive Aftermarket Division (within the Safety and Industrial business segment), were realigned to the Construction and Home Improvement Division (within the Consumer business segment). This change resulted in a decrease of previously reported net sales and operating income for total year 2019 of $35 million and $11 million, respectively, in the Safety and Industrial business segment, offset by a corresponding increase in net sales and operating income within the Consumer business segment. ● In addition, certain product lines were realigned within business segments. The transdermal drug delivery components business, formerly included in the Drug Delivery Systems Division, was realigned to the Medical Solutions Division (both of which are within the Health Care business segment) and the paint protection film business, formerly included in the Automotive and Aerospace Division, was realigned to the Commercial Solutions Division (both of which are within the Transportation and Electronics business segment). ​ The financial information presented herein reflects the impact of the preceding changes for all periods presented. ​ Business Segment Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2020 2019 Net Sales ​ ​ ​ ​ ​ ​ ​ Safety and Industrial $ 2,935 $ 2,963 ​ Transportation and Electronics ​ 2,238 ​ 2,355 ​ Health Care ​ 2,103 ​ 1,738 ​ Consumer ​ 1,256 ​ 1,200 ​ Corporate and Unallocated ​ 1 ​ 22 ​ Elimination of Dual Credit ​ (458) ​ (415) ​ Total Company $ 8,075 $ 7,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ Safety and Industrial $ 726 $ 637 ​ Transportation and Electronics ​ 484 ​ 522 ​ Health Care ​ 456 ​ 464 ​ Consumer ​ 269 ​ 235 ​ Corporate and Unallocated ​ (156) ​ (625) ​ Elimination of Dual Credit ​ (116) ​ (97) ​ Total Company $ 1,663 $ 1,136 ​ ​ Corporate and unallocated operating income includes a variety of miscellaneous items, such as corporate investment gains and losses, certain derivative gains and losses, certain insurance-related gains and losses, certain litigation and environmental expenses, corporate restructuring charges and certain under- or over-absorbed costs (e.g. pension, stock-based compensation) that the Company may choose not to allocate directly to its business segments. Corporate and Unallocated also includes sales, costs, and income from contract manufacturing, transition services and other arrangements with the acquirer of the Communication Markets Division following its 2018 divestiture through 2019. Because this category includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis. ​ 3M business segment reporting measures include dual credit to business segments for certain sales and related operating income. Management evaluates each of its four business segments based on net sales and operating income performance, including dual credit reporting to further incentivize sales growth. As a result, 3M reflects additional (“dual”) credit to another business segment when the customer account activity (“sales district”) with respect to the particular product sold to the external customer is provided by a different business segment. This additional dual credit is largely reflected at the division level. For example, privacy screen protection products are primarily sold by the Display Materials and Systems Division within the Transportation and Electronics business segment; however, certain sales districts within the Consumer business segment provide the customer account activity for sales of the product to particular customers. In this example, the non-primary selling segment (Consumer) would also receive credit for the associated net sales initiated through its sales district and the related approximate operating income. The assigned operating income related to dual credit activity may differ from operating income that would result from actual costs associated with such sales. The offset to the dual credit business segment reporting is reflected as a reconciling item entitled “Elimination of Dual Credit,” such that sales and operating income in total are unchanged.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies
Basis of presentation	Basis of Presentation ​ The interim consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the Company’s consolidated financial position, results of operations and cash flows for the periods presented. These adjustments consist of normal, recurring items. The results of operations for any interim period are not necessarily indicative of results for the full year. The interim consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q. This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and notes included in its Annual Report on Form 10-K. ​ As described in Note 16, effective in the first quarter of 2020, the Company changed its business segment reporting in its continuing effort to improve the alignment of businesses around markets and customers. Additionally, the Company consolidated the way it presents geographic area net sales by providing an aggregate Americas geographic region (combining former United States and Latin America and Canada areas). Information provided herein reflects the impact of these changes for all periods presented. ​
Changes to Significant Accounting Policies	Changes to Significant Accounting Policies ​ The following significant accounting policies have been added or changed as applicable since the Company’s 2019 Annual Report on Form 10-K as a result of adoption of new accounting pronouncements as described in the “New Accounting Pronouncements” section. ​ Accounts receivable and allowances The allowances for bad debts as well as the provision for credit losses, write-off activity and recoveries for the periods presented are not material. The Company has long-term receivables that typically aggregate to less than $100 million, do not have significant credit risk, and the origination dates of which are typically not older than five years . These long-term receivables are subject to an allowance methodology similar to other receivables. ​ Marketable securities: Investments-Debt Securities Available-for-Sale Debt Securities
Foreign currency translation	Foreign Currency Translation ​ Local currencies generally are considered the functional currencies outside the United States with the exception of 3M’s subsidiaries in Argentina, the economy of which was considered highly inflationary beginning in 2018, and accordingly the financial statements of these subsidiaries are remeasured as if their functional currency is that of their parent. Assets and liabilities for operations in local-currency environments are translated at month-end exchange rates of the period reported. Income and expense items are translated at average monthly currency exchange rates in effect during the period. Cumulative translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in shareholders’ equity. ​ 3M had a consolidating subsidiary in Venezuela, the financial statements of which were remeasured as if its functional currency were that of its parent because Venezuela’s economic environment is considered highly inflationary. The operating income of this subsidiary was immaterial as a percent of 3M’s consolidated operating income for the periods presented. In light of circumstances, including the country’s unstable environment and heightened unrest leading to sustained lack of demand, and expectation that these circumstances will continue for the foreseeable future, during May 2019, 3M concluded it no longer met the criteria of control in order to continue consolidating its Venezuelan operations. As a result, as of May 31, 2019, the Company began reflecting its interest in the Venezuelan subsidiary as an equity investment that does not have a readily determinable fair value. This resulted in a pre-tax charge of $162 million within other expense (income) in the second quarter of 2019. The charge primarily relates to $144 million of foreign currency translation losses associated with foreign currency movements before Venezuela was accounted for as a highly inflationary economy and pension elements previously included in accumulated other comprehensive loss along with write-down of intercompany receivable and investment balances associated with this subsidiary. Beginning May 31, 2019, 3M’s consolidated balance sheets and statements of operations no longer include the Venezuelan entity’s operations other than an immaterial equity investment and associated loss or income thereon largely only to the extent, if any, that 3M provides support or materials and receives funding or dividends.
Earnings Per Share	Earnings Per Share ​ The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is the result of the dilution associated with the Company’s stock-based compensation plans. Certain options outstanding under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would have had an anti-dilutive effect (19.2 million and 5.2 million average options for the three months ended March 31, 2020 and 2019, respectively). The computations for basic and diluted earnings per share follow: ​ Earnings Per Share Computations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ (Amounts in millions, except per share amounts) 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,292 ​ $ 891 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 576.8 ​ 577.5 ​ Dilution associated with the Company’s stock-based compensation plans ​ 4.7 ​ 11.0 ​ Denominator for weighted average 3M common shares outstanding – ​ 581.5 ​ 588.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.24 ​ $ 1.54 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.22 ​ $ 1.51 ​
New Accounting Pronouncements	New Accounting Pronouncements ​ See the Company’s 2019 Annual Report on Form 10-K for a more detailed discussion of the standards in the tables that follow, except for those pronouncements issued subsequent to the most recent Form 10-K filing date for which separate, more detailed discussion is provided below as applicable. ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards Adopted During the Current Fiscal Year Standard Relevant Description Effective Date for 3M Impact and Other Matters ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (in conjunction with ASU Nos. 2018-19, 2019-04, 2019-05, 2019-11, and 2020-03) Introduces an approach, based on expected losses, to estimate credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. ​ Amends the current other-than-temporary impairment model for available-for-sale debt securities. For such securities with unrealized losses, entities will still consider if a portion of any impairment is related only to credit losses and therefore recognized as a reduction in income. January 1, 2020 Adopted using the modified retrospective approach. Adoption of this ASU did not have a material impact due to the nature and extent of 3M’s financial instruments in scope for this ASU (primarily accounts receivable) and the historical, current and expected credit quality of its customers as of the date of adoption. ​ See Note 1 Significant Accounting Policies for updated applicable accounting policies. ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurement Eliminates, amends, and adds disclosure requirements for fair value measurements, primarily related to Level 3 fair value measurements. January 1, 2020 This ASU relates to disclosure only. The nature and extent of 3M’s financial instruments in scope for this ASU (primarily Level 3 fair value measurements) are immaterial to 3M’s consolidated results of operations and financial condition. ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract Aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service arrangement (i.e. hosting arrangement) with the guidance on capitalizing costs in ASC 350-40, Internal-Use Software January 1, 2020 Adopted on a prospective basis. Relevant capitalizable costs are included in prepaid expenses or other non-current asset, as applicable, prospectively beginning in 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ Standards Issued and Not Yet Adopted Standard Relevant Description Effective Date for 3M Impact and Other Matters ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) Eliminates certain existing exceptions related to the general approach in ASC 740 relating to franchise taxes, reducing complexity in the interim-period accounting for year-to-date loss limitations and changes in tax laws, and clarifying the accounting for transactions outside of business combination that result in a step-up in the tax basis of goodwill. January 1, 2021 3M previously disclosed it does not expect this ASU to have a material impact on its consolidated results of operations and financial condition. ASU No. 2020-01, Clarifying the Interactions between Topic 321, Investments—Equity Securities, Topic 323, Investments—Equity Method and Joint Ventures, and Topic 815, Derivatives and Hedging Clarifies when accounting for certain equity securities, a Company should consider observable transactions before applying or upon discontinuing the equity method of accounting for the purposes of applying the measurement alternative. ​ Indicates when determining the accounting for certain derivatives, a Company should not consider if the underlying securities would be accounted for under the equity method or fair value option. January 1, 2021 3M previously disclosed it does not expect this ASU to have a material impact on its consolidated results of operations and financial condition, but will apply such guidance, where applicable, to future circumstances. ​ Relevant New Standards Issued Subsequent to Most Recent Annual Report ​ In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting contract changes as early as January 1, 2020. The provisions have impact as contract modifications and other changes occur while LIBOR is phased out. The Company is in the process of evaluating the optional relief guidance provided within this ASU and is also reviewing its debt securities, bank facilities, derivative instruments and commercial contracts that utilize LIBOR as the reference rate. 3M will continue its assessment and monitor regulatory developments during the LIBOR transition period.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Significant Accounting Policies
Earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ (Amounts in millions, except per share amounts) 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,292 ​ $ 891 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 576.8 ​ 577.5 ​ Dilution associated with the Company’s stock-based compensation plans ​ 4.7 ​ 11.0 ​ Denominator for weighted average 3M common shares outstanding – ​ 581.5 ​ 588.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.24 ​ $ 1.54 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.22 ​ $ 1.51 ​

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2020
Acquisitions and Divestitures
Approximate amounts of major assets and liabilities associated with disposal groups classified as held-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2020 2019 Inventory ​ $ 60 ​ 70 ​ Property, plant and equipment ​ ​ 135 ​ ​ 150 ​ Intangible assets ​ ​ — ​ ​ 35 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets
Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ Safety and Industrial ​ Transportation and Electronics ​ Health Care ​ Consumer ​ Total Company ​ Balance as of December 31, 2019 ​ $ 4,621 ​ $ 1,830 ​ $ 6,739 ​ $ 254 ​ $ 13,444 ​ Acquisition activity ​ ​ — ​ ​ — ​ ​ (18) ​ ​ — ​ ​ (18) ​ Divestiture activity ​ ​ — ​ ​ (10) ​ ​ — ​ ​ — ​ ​ (10) ​ Translation and other ​ ​ (64) ​ ​ (10) ​ ​ (29) ​ ​ (1) ​ ​ (104) ​ Balance as of March 31, 2020 ​ $ 4,557 ​ $ 1,810 ​ $ 6,692 ​ $ 253 ​ $ 13,312 ​
Acquired Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2020 2019 Customer related intangible assets ​ $ 4,222 ​ $ 4,316 ​ Patents ​ 535 ​ 538 ​ Other technology-based intangible assets ​ 2,093 ​ 2,124 ​ Definite-lived tradenames ​ 1,175 ​ 1,158 ​ Other amortizable intangible assets ​ 123 ​ 125 ​ Total gross carrying amount ​ $ 8,148 ​ $ 8,261 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization — customer related ​ (1,197) ​ (1,180) ​ Accumulated amortization — patents ​ (500) ​ (499) ​ Accumulated amortization — other technology-based ​ (470) ​ (435) ​ Accumulated amortization — definite-lived tradenames ​ (332) ​ (316) ​ Accumulated amortization — other ​ (90) ​ (90) ​ Total accumulated amortization ​ $ (2,589) ​ $ (2,520) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total finite-lived intangible assets — net ​ $ 5,559 ​ $ 5,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-amortizable intangible assets (primarily tradenames) ​ 632 ​ 638 ​ Total intangible assets — net ​ $ 6,191 ​ $ 6,379 ​
Schedule of amortization expense for acquired intangible assets	Amortization expense for the three months ended March 31, 2020 and 2019 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2020 2019 Amortization expense ​ $ 134 ​ $ 69
Schedule of expected amortization expense for acquired amortizable intangible assets	Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After (Millions) ​ 2020 ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2025 Amortization expense ​ $ 398 ​ $ 521 ​ $ 509 ​ $ 479 ​ $ 454 ​ $ 424 ​ $ 2,774 ​

Restructuring Actions and Exi_2

Restructuring Actions and Exit Activities (Tables)	3 Months Ended
	Mar. 31, 2020
2019 Restructuring Actions
Accrued restructuring action balances	​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2019 ​ $ 140 ​ Cash payments ​ (12) ​ Adjustments ​ ​ (4) ​ Accrued restructuring action balances as of March 31, 2020 ​ $ 124 ​

Supplemental Income Statement_2

Supplemental Income Statement Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Income Statement Information
Schedule of other expense (income)	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) ​ 2020 2019 Interest expense ​ $ 123 ​ $ 104 Interest income ​ (10) ​ (20) Pension and postretirement net periodic benefit cost (benefit) ​ ​ (17) ​ ​ (36) Total ​ $ 96 ​ $ 48

Supplemental Equity and Compr_2

Supplemental Equity and Comprehensive Income Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Equity and Comprehensive Income Information
Consolidated Statement of Changes in Equity	Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3M Company Shareholders ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Stock and ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ ​ ​ ​ Comprehensive ​ Non- ​ ​ ​ ​ ​ Paid-in ​ Retained ​ Treasury ​ Income ​ controlling (Millions) Total Capital Earnings Stock (Loss) Interest Balance at December 31, 2019 $ 10,126 $ 5,916 $ 42,135 $ (29,849) $ (8,139) $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,294 ​ ​ ​ ​ 1,292 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (441) ​ (3) ​ Defined benefit pension and post-retirement plans adjustment ​ 119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 119 ​ — ​ Cash flow hedging instruments ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47 ​ — ​ Total other comprehensive income (loss), net of tax ​ (278) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (847) ​ ​ ​ ​ (847) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 117 ​ 117 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (356) ​ ​ ​ ​ ​ ​ ​ (356) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 153 ​ ​ ​ ​ (235) ​ 388 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2020 $ 10,209 $ 6,033 $ 42,345 $ (29,817) $ (8,414) $ 62 ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3M Company Shareholders ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Stock and ​ ​ ​ ​ ​ ​ ​ Other ​ ​ ​ ​ ​ ​ ​ ​ Additional ​ ​ ​ ​ ​ ​ ​ Comprehensive ​ Non- ​ ​ ​ ​ ​ Paid-in ​ Retained ​ Treasury ​ Income ​ controlling (Millions) Total Capital Earnings Stock (Loss) Interest Balance at December 31, 2018 $ 9,848 $ 5,652 $ 40,636 $ (29,626) $ (6,866) $ 52 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impact of adoption of ASU No. 2018-02* ​ ​ — ​ ​ ​ ​ ​ 853 ​ ​ ​ ​ ​ (853) ​ ​ ​ ​ Impact of adoption of ASU No. 2016-02* ​ ​ 14 ​ ​ ​ ​ ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 893 ​ ​ ​ ​ 891 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ 77 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 77 ​ — ​ Defined benefit pension and post-retirement plans adjustment ​ 84 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 84 ​ — ​ Cash flow hedging instruments ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6 ​ — ​ Total other comprehensive income (loss), net of tax ​ 167 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (830) ​ ​ ​ ​ (830) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 112 ​ 112 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (666) ​ ​ ​ ​ ​ ​ ​ (666) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 219 ​ ​ ​ ​ (405) ​ 624 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2019 $ 9,757 $ 5,764 $ 41,159 $ (29,668) $ (7,552) $ 54 ​ *See Note 1 in 3M’s 2019 Annual Report on Form 10-K.
Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M	Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Defined Benefit ​ Cash Flow ​ Accumulated ​ ​ ​ ​ ​ Pension and ​ Hedging ​ Other ​ ​ Cumulative ​ Postretirement ​ Instruments, ​ Comprehensive ​ ​ Translation ​ Plans ​ Unrealized ​ Income (Millions) ​ Adjustment ​ Adjustment ​ Gain (Loss) ​ (Loss) Balance at December 31, 2019, net of tax: ​ $ (1,899) ​ $ (6,209) ​ $ (31) ​ $ (8,139) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (439) ​ — ​ 77 ​ (362) ​ Amounts reclassified out ​ — ​ 164 ​ (16) ​ 148 ​ Total other comprehensive income (loss), before tax ​ (439) ​ 164 ​ 61 ​ (214) ​ Tax effect ​ (2) ​ (45) ​ (14) ​ (61) ​ Total other comprehensive income (loss), net of tax ​ (441) ​ 119 ​ 47 ​ (275) ​ Balance at March 31, 2020, net of tax: ​ $ (2,340) ​ $ (6,090) ​ $ 16 ​ $ (8,414) ​ ​ Three months ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ Defined Benefit ​ Cash Flow ​ Accumulated ​ ​ ​ ​ ​ Pension and ​ Hedging ​ Other ​ ​ Cumulative ​ Postretirement ​ Instruments, ​ Comprehensive ​ ​ Translation ​ Plans ​ Unrealized ​ Income (Millions) ​ Adjustment ​ Adjustment ​ Gain (Loss) ​ (Loss) Balance at December 31, 2018, net of tax: ​ $ (2,098) ​ $ (4,832) ​ $ 64 ​ $ (6,866) ​ Impact of adoption of ASU No. 2018-02* ​ ​ (13) ​ ​ (817) ​ ​ (23) ​ ​ (853) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ 103 ​ — ​ 13 ​ 116 ​ Amounts reclassified out ​ — ​ 104 ​ (7) ​ 97 ​ Total other comprehensive income (loss), before tax ​ 103 ​ 104 ​ 6 ​ 213 ​ Tax effect ​ (26) ​ (20) ​ — ​ (46) ​ Total other comprehensive income (loss), net of tax ​ 77 ​ 84 ​ 6 ​ 167 ​ Balance at March 31, 2019, net of tax: ​ $ (2,034) ​ $ (5,565) ​ $ 47 ​ $ (7,552) ​ *See Note 1 in 3M’s 2019 Annual Report on Form 10-K. ​
Reclassifications Out of Accumulated Other Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Reclassified from ​ ​ Details about Accumulated Other ​ Accumulated Other Comprehensive Income ​ ​ ​ Comprehensive Income Components ​ Three months ended March 31, ​ Location on Income (Millions) ​ 2020 2019 ​ Statement Defined benefit pension and postretirement plans adjustments ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) associated with defined benefit pension and postretirement plans amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ Transition asset ​ $ (1) ​ $ — See Note 11 ​ Prior service benefit ​ ​ 15 ​ ​ 16 See Note 11 ​ Net actuarial loss ​ ​ (177) ​ ​ (120) ​ See Note 11 ​ Curtailments/Settlements ​ (1) ​ — See Note 11 ​ Total before tax ​ (164) ​ (104) ​ ​ ​ Tax effect ​ 45 ​ 20 Provision for income taxes ​ Net of tax ​ $ (119) ​ $ (84) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow hedging instruments gains (losses) ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 18 ​ $ 7 Cost of sales ​ Interest rate contracts ​ (2) ​ — Interest expense ​ Total before tax ​ 16 ​ 7 ​ ​ ​ Tax effect ​ (4) ​ (1) Provision for income taxes ​ Net of tax ​ $ 12 ​ $ 6 ​ ​ ​ Total reclassifications for the period, net of tax ​ $ (107) ​ $ (78) ​ ​ ​

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2020
Marketable Securities and Held-to-Maturity Debt Securities
Schedule of marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ March 31, 2020 ​ December 31, 2019 Commercial paper ​ $ 194 ​ $ 85 ​ Certificates of deposit/time deposits ​ 6 ​ 10 ​ U.S. municipal securities ​ 24 ​ 3 ​ Current marketable securities ​ $ 224 ​ $ 98 ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. municipal securities ​ $ 34 ​ $ 43 ​ Non-current marketable securities ​ $ 34 ​ $ 43 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total marketable securities ​ $ 258 ​ $ 141 ​ ​
Marketable securities by contractual maturity	​ ​ ​ ​ ​ ​ (Millions) March 31, 2020 Due in one year or less ​ $ 224 ​ Due after one year through five years ​ 14 ​ Due after five years through ten years ​ 20 ​ Total marketable securities ​ $ 258 ​ ​

Long-Term Debt and Short-Term_2

Long-Term Debt and Short-Term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2020
Long-Term Debt and Short-Term Borrowings
Schedule of Maturities of Long-Term Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After ​ ​ 2020 ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2025 ​ Total $ 1,825 ​ $ 1,682 ​ $ 1,602 ​ $ 1,809 ​ $ 1,101 ​ $ 1,788 ​ $ 11,265 ​ $ 21,072 ​

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2020
Pension and Postretirement Benefit Plans
Components of net periodic benefit cost (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ Qualified and Non-qualified ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Postretirement ​ ​ United States International ​ Benefits (Millions) 2020 2019 2020 2019 2020 2019 Net periodic benefit cost (benefit) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 66 ​ $ 62 ​ $ 38 ​ $ 33 ​ $ 11 ​ $ 11 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ $ 124 ​ $ 155 ​ $ 31 ​ $ 39 ​ $ 16 ​ $ 21 ​ Expected return on plan assets ​ (255) ​ (260) ​ (77) ​ (75) ​ (20) ​ (20) ​ Amortization of transition asset ​ — ​ — ​ 1 ​ — ​ — ​ — ​ Amortization of prior service benefit ​ (6) ​ (6) ​ (1) ​ (3) ​ (8) ​ (7) ​ Amortization of net actuarial loss ​ ​ 134 ​ ​ 91 ​ ​ 31 ​ ​ 20 ​ ​ 12 ​ ​ 9 ​ Settlements, curtailments, special termination benefits and other ​ — ​ — ​ — ​ — ​ 1 ​ — ​ Total non-operating expense (benefit) ​ ​ (3) ​ ​ (20) ​ ​ (15) ​ ​ (19) ​ ​ 1 ​ ​ 3 ​ Total net periodic benefit cost (benefit) ​ $ 63 ​ $ 42 ​ $ 23 ​ $ 14 ​ $ 12 ​ $ 14 ​ ​

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2020
Derivatives
Gain (loss) on derivative instruments designated as cash flow hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) ​ ​ ​ ​ ​ ​ ​ Recognized in Other ​ Pretax Gain (Loss) Reclassified ​ ​ Comprehensive ​ from Accumulated Other ​ ​ Income on Derivative ​ Comprehensive Income into Income Three months ended March 31, 2020 (Millions) Amount Location Amount Foreign currency forward/option contracts ​ $ 79 Cost of sales ​ $ 18 ​ Interest rate contracts ​ (2) Interest expense ​ (2) ​ Total ​ $ 77 ​ ​ ​ $ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Amount Location Amount Foreign currency forward/option contracts ​ $ 30 Cost of sales ​ $ 7 ​ Interest rate contracts ​ (17) Interest expense ​ — ​ Total ​ $ 13 ​ ​ ​ $ 7 ​ ​
Gain (loss) on derivative instruments designated as fair value hedges	​ The following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Amount of Fair Value Hedging ​ ​ Carrying Value of the ​ Adjustment Included in the Carrying Value ​ ​ Hedged Liabilities (in millions) ​ of the Hedged Liabilities (in millions) Location on the Consolidated Balance Sheet March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 Short-term borrowings and current portion of long-term debt $ 500 ​ $ 499 $ — ​ $ — ​ Long-term debt ​ ​ 776 ​ ​ 775 ​ ​ 24 ​ ​ 22 ​ Total ​ $ 1,276 ​ $ 1,274 ​ $ 24 ​ $ 22 ​ ​
Gain (loss) on derivative and non-derivative instruments designated as net investment hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) ​ ​ ​ ​ ​ ​ ​ Recognized as ​ ​ ​ ​ ​ ​ ​ Cumulative Translation ​ Amount of Gain (Loss) Excluded ​ ​ within Other ​ from Effectiveness Testing ​ ​ Comprehensive Income ​ Recognized in Income Three months ended March 31, 2020 (Millions) Amount Location Amount Foreign currency denominated debt ​ $ 15 Cost of sales ​ $ — ​ Foreign currency forward contracts ​ 1 Cost of sales ​ 5 ​ Total ​ $ 16 ​ ​ ​ $ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Amount Location Amount Foreign currency denominated debt ​ $ 92 Cost of sales ​ $ — ​ Foreign currency forward contracts ​ ​ 15 ​ Cost of sales ​ ​ 5 ​ Total ​ $ 107 ​ ​ ​ $ 5 ​ ​
Gain (loss) on derivative instruments not designated as hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) on Derivative Recognized in ​ ​ Income Three months ended March 31, 2020 (Millions) Location Amount Foreign currency forward/option contracts Cost of sales ​ $ 4 ​ Foreign currency forward contracts Interest expense ​ (16) ​ Total ​ ​ ​ $ (12) ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2019 (Millions) Location Amount ​ Foreign currency forward/option contracts Cost of sales ​ $ (2) ​ Foreign currency forward contracts Interest expense ​ (8) ​ Total ​ ​ ​ $ (10) ​
Location in consolidated statement of income and pre-tax amounts recognized in income related to derivative instruments designated in cash flow or fair value hedging relationship	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location and Amount of Gain (Loss) Recognized in Income ​ Location and Amount of Gain (Loss) Recognized in Income ​ ​ ​ Three months ended March 31, 2020 ​ Three months ended March 31, 2019 ​ (Millions) ​ Cost of sales ​ Other expense ​ Cost of sales ​ Other expense ​ Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of cash flow or fair value hedges are recorded ​ $ 4,109 ​ $ 96 ​ $ 4,310 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The effects of fair value and cash flow hedging: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on cash flow hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ $ 18 ​ $ — ​ $ 7 ​ $ — ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ ​ — ​ ​ (2) ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on fair value hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedged items ​ $ — ​ $ (2) ​ $ — ​ $ (5) ​ Derivatives designated as hedging instruments ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Location and Fair Value of Derivative Instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair March 31, 2020 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,919 Other current assets ​ $ 94 Other current liabilities ​ $ 2 ​ Foreign currency forward/option contracts ​ 939 Other assets ​ 65 Other liabilities ​ 1 ​ Interest rate contracts ​ 500 Other current assets ​ — Other current liabilities ​ — ​ Interest rate contracts ​ 603 Other assets ​ 18 Other liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 177 ​ ​ ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 2,601 Other current assets ​ $ 28 Other current liabilities ​ $ 19 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 28 ​ ​ ​ $ 19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 205 ​ ​ ​ $ 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair December 31, 2019 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,995 Other current assets ​ $ 64 Other current liabilities ​ $ 9 ​ Foreign currency forward/option contracts ​ ​ 1,041 ​ Other assets ​ ​ 50 ​ Other liabilities ​ ​ 3 ​ Interest rate contracts ​ 500 Other current assets ​ — Other current liabilities ​ — ​ Interest rate contracts ​ 603 Other assets ​ 17 Other liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 131 ​ ​ ​ $ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 2,684 Other current assets ​ $ 11 Other current liabilities ​ $ 8 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 11 ​ ​ ​ $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 142 ​ ​ ​ $ 20 ​ ​
Offsetting Assets	​ Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset in the ​ ​ ​ ​ ​ Consolidated Balance Sheet that are Subject ​ ​ ​ ​ Gross Amount of ​ to Master Netting Agreements ​ ​ ​ ​ ​ Derivative Assets ​ Gross Amount of ​ ​ ​ ​ ​ ​ Presented in the ​ Eligible Offsetting ​ Cash ​ ​ ​ ​ Consolidated ​ Recognized ​ Collateral ​ Net Amount of March 31, 2020 (Millions) ​ Balance Sheet ​ Derivative Liabilities ​ Received ​ Derivative Assets Derivatives subject to master netting agreements ​ $ 205 ​ $ 12 ​ $ — ​ $ 193 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 205 ​ ​ ​ ​ ​ ​ ​ $ 193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 142 ​ $ 14 ​ $ — ​ $ 128 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 142 ​ ​ ​ ​ ​ ​ ​ $ 128 ​
Offsetting Liabilities	Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset in the ​ ​ ​ ​ ​ Consolidated Balance Sheet that are Subject ​ ​ ​ ​ Gross Amount of ​ to Master Netting Agreements ​ ​ ​ ​ ​ Derivative Liabilities ​ Gross Amount of ​ ​ ​ ​ ​ ​ Presented in the ​ Eligible Offsetting ​ Cash ​ Net Amount of ​ ​ Consolidated ​ Recognized ​ Collateral ​ Derivative March 31, 2020 (Millions) ​ Balance Sheet ​ Derivative Assets ​ Pledged ​ Liabilities Derivatives subject to master netting agreements ​ $ 22 ​ $ 12 ​ $ — ​ $ 10 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 22 ​ ​ ​ ​ ​ ​ ​ $ 10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 20 ​ $ 14 ​ $ — ​ $ 6 ​ Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — ​ Total ​ $ 20 ​ ​ ​ ​ ​ ​ ​ $ 6 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Measurements
Fair Value, Assets and Liabilities Measured on Recurring Basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) March 31, 2020 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ $ 194 ​ $ — ​ $ 194 ​ $ — ​ Certificates of deposit/time deposits ​ 6 ​ — ​ 6 ​ — ​ U.S. municipal securities ​ 58 ​ — ​ 21 ​ 37 ​ Investments ​ ​ 18 ​ ​ 18 ​ ​ — ​ ​ — ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 187 ​ — ​ 187 ​ — ​ Interest rate contracts ​ 18 ​ — ​ 18 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 22 ​ — ​ 22 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) December 31, 2019 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial paper ​ $ 85 ​ $ — ​ $ 85 ​ $ — ​ Certificates of deposit/time deposits ​ 10 ​ — ​ 10 ​ — ​ U.S. municipal securities ​ 46 ​ — ​ — ​ 46 ​ Investments ​ ​ 25 ​ ​ 25 ​ ​ — ​ ​ — ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 125 ​ — ​ 125 ​ — ​ Interest rate contracts ​ 17 ​ — ​ 17 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 20 ​ — ​ 20 ​ — ​
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Marketable securities — certain U.S. municipal securities only ​ March 31, (Millions) ​ 2020 2019 Beginning balance ​ $ 46 ​ $ 40 ​ Total gains or losses: ​ ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — ​ Included in other comprehensive income ​ — ​ — ​ Purchases and issuances ​ 10 ​ 9 ​ Sales and settlements ​ (19) ​ — ​ Transfers in and/or out of level 3 ​ — ​ — ​ Ending balance ​ $ 37 ​ $ 49 ​ Change in unrealized gains or losses for the period included in earnings for securities held at the end of the reporting period ​ — ​ — ​
Fair Value of Financial Instruments by Balance Sheet Grouping	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ Carrying Fair Carrying Fair (Millions) ​ Value ​ Value ​ Value ​ Value Long-term debt, excluding current portion ​ $ 19,247 ​ $ 20,226 ​ $ 17,518 ​ $ 18,475 ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Stock-Based Compensation
Stock-Based Compensation Expense	Stock-Based Compensation Expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ (Millions) 2020 2019 Cost of sales ​ $ 22 ​ $ 22 ​ Selling, general and administrative expenses ​ 73 ​ 82 ​ Research, development and related expenses ​ 25 ​ 26 ​ Stock-based compensation expenses ​ $ 120 ​ $ 130 ​ Income tax benefits ​ ​ (39) ​ ​ (80) ​ Stock-based compensation expenses (benefits), net of tax ​ $ 81 ​ $ 50 ​
Stock Option Activity	Stock Option Program ​ The following table summarizes stock option activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ Weighted Remaining Aggregate ​ ​ ​ Number of ​ Average ​ Contractual ​ Intrinsic Value ​ (Options in thousands) ​ Options ​ Exercise Price ​ Life (months) ​ (millions) ​ Under option — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 33,675 ​ $ 151.15 ​ ​ ​ ​ Granted: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual 4,741 ​ 157.26 ​ ​ ​ Exercised (1,159) ​ 87.25 ​ ​ ​ Forfeited (41) ​ 193.77 ​ ​ ​ March 31 37,216 ​ $ 153.87 70 ​ $ 359 Options exercisable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31 29,173 ​ $ 146.86 58 ​ $ 359
Stock Option Assumptions	Stock Option Assumptions ​ ​ ​ ​ ​ ​ ​ ​ Annual ​ ​ 2020 ​ Exercise price ​ $ 157.24 ​ Risk-free interest rate ​ 1.5 % Dividend yield ​ 2.7 % Expected volatility ​ 19.7 % Expected life (months) ​ 78 ​ Black-Scholes fair value ​ $ 21.58 ​
Restricted Stock and Restricted Stock Units Activity	​ Restricted Stock and Restricted Stock Units ​ The following table summarizes restricted stock and restricted stock unit activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Nonvested balance — ​ ​ ​ ​ ​ ​ As of January 1 1,573 ​ $ 201.11 ​ Granted ​ ​ ​ ​ ​ ​ Annual 733 ​ 157.29 ​ Other 10 ​ 175.81 ​ Vested (553) ​ 176.16 ​ Forfeited (16) ​ 193.91 ​ As of March 31 1,747 ​ $ 190.55 ​
Performance Shares Activity	The following table summarizes performance share activity during the three months ended March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Undistributed balance — ​ ​ ​ ​ ​ ​ As of January 1 444 ​ $ 205.58 ​ Granted 191 ​ 153.02 ​ Distributed (206) ​ 190.84 ​ Performance change 10 ​ 116.06 ​ Forfeited (0) ​ 231.34 ​ As of March 31 439 ​ $ 187.50 ​ ​

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Business Segments and Geographic Information
Business Segment Information	Business Segment Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2020 2019 Net Sales ​ ​ ​ ​ ​ ​ ​ Safety and Industrial $ 2,935 $ 2,963 ​ Transportation and Electronics ​ 2,238 ​ 2,355 ​ Health Care ​ 2,103 ​ 1,738 ​ Consumer ​ 1,256 ​ 1,200 ​ Corporate and Unallocated ​ 1 ​ 22 ​ Elimination of Dual Credit ​ (458) ​ (415) ​ Total Company $ 8,075 $ 7,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Income ​ ​ ​ ​ ​ ​ ​ Safety and Industrial $ 726 $ 637 ​ Transportation and Electronics ​ 484 ​ 522 ​ Health Care ​ 456 ​ 464 ​ Consumer ​ 269 ​ 235 ​ Corporate and Unallocated ​ (156) ​ (625) ​ Elimination of Dual Credit ​ (116) ​ (97) ​ Total Company $ 1,663 $ 1,136 ​

Significant Accounting Polici_4

Significant Accounting Policies - Accounts Receivable (Details) - Maximum $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Accounts receivable and allowances
Long-term receivables	$ 100
Number of years of origination of receivables	5 years

Significant Accounting Polici_5

Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
Foreign Currency Translation
Foreign currency transaction loss	$ 1
Venezuela
Foreign Currency Translation
Loss on deconsolidation of Venezuelan subsidiary		$ 162
Foreign currency transaction loss		$ 144

Significant Accounting Polici_6

Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings per share
Options outstanding not included in computation of diluted earnings per share (in shares)	19.2	5.2
Numerator:
Net income attributable to 3M	$ 1,292	$ 891
Denominator:
Denominator for weighted average 3M common shares outstanding - basic (in shares)	576.8	577.5
Dilution associated with the Company's stock-based compensation plans (in shares)	4.7	11
Denominator for weighted average 3M common shares outstanding - diluted (in shares)	581.5	588.5
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)	$ 2.24	$ 1.54
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)	$ 2.22	$ 1.51

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Contract Balance
Software license contracts term	1 year
Deferred revenue	$ 422		$ 430
Deferred income recognized as revenue	$ 160	$ 370

Revenue - Disaggregated Revenue

Revenue - Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue
Net Sales	$ 8,075	$ 7,863
Corporate and Unallocated
Disaggregation of Revenue
Net Sales	1	22
Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(458)	(415)
Americas
Disaggregation of Revenue
Net Sales	4,142	3,763
Americas | Corporate and Unallocated
Disaggregation of Revenue
Net Sales	1	21
Americas | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(208)	(182)
United States
Disaggregation of Revenue
Net Sales	3,425	3,046
Asia Pacific
Disaggregation of Revenue
Net Sales	2,345	2,478
Asia Pacific | Corporate and Unallocated
Disaggregation of Revenue
Net Sales		2
Asia Pacific | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(181)	(175)
Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	1,590	1,624
Europe, Middle East and Africa | Corporate and Unallocated
Disaggregation of Revenue
Net Sales		1
Europe, Middle East and Africa | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(69)	(61)
Other Unallocated
Disaggregation of Revenue
Net Sales	(2)	(2)
Other Unallocated | Corporate and Unallocated
Disaggregation of Revenue
Net Sales		(2)
Other Unallocated | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales		3
Safety and Industrial
Disaggregation of Revenue
Net Sales	2,935	2,963
Safety and Industrial | Americas
Disaggregation of Revenue
Net Sales	1,519	1,486
Safety and Industrial | Asia Pacific
Disaggregation of Revenue
Net Sales	719	759
Safety and Industrial | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	698	719
Safety and Industrial | Other Unallocated
Disaggregation of Revenue
Net Sales	(1)	(1)
Safety and Industrial | Abrasives
Disaggregation of Revenue
Net Sales	330	363
Safety and Industrial | Automotive Aftermarket
Disaggregation of Revenue
Net Sales	284	306
Safety and Industrial | Closure and Masking Systems
Disaggregation of Revenue
Net Sales	268	278
Safety and Industrial | Electrical Markets
Disaggregation of Revenue
Net Sales	291	311
Safety and Industrial | Industrial Adhesives and Tapes
Disaggregation of Revenue
Net Sales	674	683
Safety and Industrial | Personal Safety
Disaggregation of Revenue
Net Sales	990	924
Safety and Industrial | Roofing Granules
Disaggregation of Revenue
Net Sales	95	92
Safety and Industrial | Other Safety and Industrial
Disaggregation of Revenue
Net Sales	3	6
Transportation and Electronics
Disaggregation of Revenue
Net Sales	2,238	2,355
Transportation and Electronics | Americas
Disaggregation of Revenue
Net Sales	675	713
Transportation and Electronics | Asia Pacific
Disaggregation of Revenue
Net Sales	1,201	1,257
Transportation and Electronics | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	362	386
Transportation and Electronics | Other Unallocated
Disaggregation of Revenue
Net Sales		(1)
Transportation and Electronics | Advanced Materials
Disaggregation of Revenue
Net Sales	288	311
Transportation and Electronics | Automotive and Aerospace
Disaggregation of Revenue
Net Sales	447	508
Transportation and Electronics | Commercial Solutions
Disaggregation of Revenue
Net Sales	429	462
Transportation and Electronics | Electronics
Disaggregation of Revenue
Net Sales	863	861
Transportation and Electronics | Transportation Safety
Disaggregation of Revenue
Net Sales	211	216
Transportation and Electronics | Other Transportation and Electronics
Disaggregation of Revenue
Net Sales		(3)
Health Care
Disaggregation of Revenue
Net Sales	2,103	1,738
Health Care | Americas
Disaggregation of Revenue
Net Sales	1,281	922
Health Care | Asia Pacific
Disaggregation of Revenue
Net Sales	356	378
Health Care | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	467	438
Health Care | Other Unallocated
Disaggregation of Revenue
Net Sales	(1)
Health Care | Drug Delivery
Disaggregation of Revenue
Net Sales	105	83
Health Care | Food Safety
Disaggregation of Revenue
Net Sales	91	83
Health Care | Health Information Systems
Disaggregation of Revenue
Net Sales	277	260
Health Care | Medical Solutions
Disaggregation of Revenue
Net Sales	1,153	773
Health Care | Oral Care
Disaggregation of Revenue
Net Sales	277	341
Health Care | Separation and Purification Sciences
Disaggregation of Revenue
Net Sales	202	203
Health Care | Other Health Care
Disaggregation of Revenue
Net Sales	(2)	(5)
Consumer
Disaggregation of Revenue
Net Sales	1,256	1,200
Consumer | Americas
Disaggregation of Revenue
Net Sales	874	803
Consumer | Asia Pacific
Disaggregation of Revenue
Net Sales	250	257
Consumer | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	132	141
Consumer | Other Unallocated
Disaggregation of Revenue
Net Sales		(1)
Consumer | Consumer Health Care
Disaggregation of Revenue
Net Sales	99	97
Consumer | Home Care
Disaggregation of Revenue
Net Sales	270	257
Consumer | Home Improvement
Disaggregation of Revenue
Net Sales	576	528
Consumer | Stationery and Office
Disaggregation of Revenue
Net Sales	273	295
Consumer | Other Consumer
Disaggregation of Revenue
Net Sales	$ 38	$ 23

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019USD ($)	Mar. 31, 2020USD ($)item	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Supplemental information:
Cash paid, net of cash acquired		$ 25		$ 704
Net sales		8,075		7,863
Operating loss		$ (1,663)		(1,136)
Number of business combinations completed | item		0
M*Modal
Supplemental information:
Cash paid	$ 700
Assumed debt	$ 300
Net sales				50
Operating loss				$ 20
Acelity Inc. and its KCI subsidiaries
Supplemental information:
Adjustments to purchase price allocation		$ 18
Net sales			$ 350
Operating loss			$ 45

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Divestitures (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Jan. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Divestiture Information
Proceeds from sale of businesses			$ 86	$ 6
Disposal Group, Held-for-sale, Not Discontinued Operations
Divestiture Information
Disposal - Inventory		$ 70	60		$ 70
Disposal - Property, plant and equipment		150	135		150
Disposal - Intangible assets		35			35
Disposal - Goodwill		30	20		$ 30
Aggregate operating income of divested businesses			$ 25
Drug delivery business | Disposal Group, Held-for-sale, Not Discontinued Operations
Divestiture Information
Annual sales of divested business		380
Proceeds from sale of businesses		650
Pre-tax gain on sale		$ 380
Noncontrolling interest in new company (as a percent)		17.00%			17.00%
Advanced ballistic protection business | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestiture Information
Annual sales of divested business					$ 85
Proceeds from sale of businesses	$ 86
Maximum contingent considerations depending on outcome of pending tenders	$ 25

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill balance by business segment (Details)	3 Months Ended
	Mar. 31, 2020USD ($)item
Goodwill Information
Number of business combinations completed | item	0
Increase (decrease) in goodwill related to preliminary allocation of purchase price for prior acquisitions	$ (18,000,000)
Goodwill
Balance at the beginning of the period	13,444,000,000
Acquisition activity	(18,000,000)
Divestiture activity	(10,000,000)
Translation and other	(104,000,000)
Balance at the end of the period	13,312,000,000
Amount of Goodwill impairment	0
Safety and Industrial
Goodwill
Balance at the beginning of the period	4,621,000,000
Translation and other	(64,000,000)
Balance at the end of the period	4,557,000,000
Transportation and Electronics
Goodwill
Balance at the beginning of the period	1,830,000,000
Divestiture activity	(10,000,000)
Translation and other	(10,000,000)
Balance at the end of the period	1,810,000,000
Health Care
Goodwill Information
Increase (decrease) in goodwill related to preliminary allocation of purchase price for prior acquisitions	(18,000,000)
Goodwill
Balance at the beginning of the period	6,739,000,000
Acquisition activity	(18,000,000)
Translation and other	(29,000,000)
Balance at the end of the period	6,692,000,000
Consumer
Goodwill
Balance at the beginning of the period	254,000,000
Translation and other	(1,000,000)
Balance at the end of the period	$ 253,000,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Acquired intangible assets disclosures
Total gross carrying amount	$ 8,148	$ 8,261
Total accumulated amortization	(2,589)	(2,520)
Total finite-lived intangible assets - net	5,559	5,741
Non-amortizable intangible assets (primarily tradenames)	632	638
Total intangible assets - net	$ 6,191	6,379
Minimum
Acquired intangible assets disclosures
Indefinite lived tradenames years in existence	55 years
Customer related intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	$ 4,222	4,316
Total accumulated amortization	(1,197)	(1,180)
Patents
Acquired intangible assets disclosures
Total gross carrying amount	535	538
Total accumulated amortization	(500)	(499)
Other technology-based intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	2,093	2,124
Total accumulated amortization	(470)	(435)
Definite-lived tradenames
Acquired intangible assets disclosures
Total gross carrying amount	1,175	1,158
Total accumulated amortization	(332)	(316)
Other amortizable intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	123	125
Total accumulated amortization	$ (90)	$ (90)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedules for Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finite Lived Intangible Asset
Amortization expense for acquired intangible assets	$ 134	$ 69
Expected amortization expense for acquired intangible assets recorded as of balance sheet date
Remainder of 2020	398
2021	521
2022	509
2023	479
2024	454
2025	424
After 2025	$ 2,774

Restructuring Actions and Exi_3

Restructuring Actions and Exit Activities (Details) - 2019 Restructuring Actions $ in Millions	3 Months Ended
	Dec. 31, 2019USD ($)person	Jun. 30, 2019USD ($)person	Mar. 31, 2020USD ($)
Restructuring Cost and Reserve
Restructuring and related cost, number of positions affected | person	1,500	2,000
Restructuring charges	$ 134	$ 148
Accrued restructuring reserve	140
Employee-Related
Restructuring Cost and Reserve
Accrued restructuring reserve	$ 140		$ 124

Restructuring Actions and Exi_4

Restructuring Actions and Exit Activities - Roll Forward (Details) - 2019 Restructuring Actions $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	$ 140
Employee-Related
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	140
Cash payments	(12)
Adjustments	(4)
Restructuring actions balances, Ending Balance	$ 124

Supplemental Income Statement_3

Supplemental Income Statement Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Income Statement Information
Interest expense	$ 123	$ 104
Interest income	(10)	(20)
Pension and postretirement net periodic benefit cost (benefit)	(17)	(36)
Total	$ 96	$ 48

Supplemental Equity and Compr_3

Supplemental Equity and Comprehensive Income Information - Dividends (Details) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Equity and Comprehensive Income Information
Dividends declared in current period (in dollars per share)	$ 1.47	$ 1.44

Supplemental Equity and Compr_4

Supplemental Equity and Comprehensive Income Information - SE Rf (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Increase (decrease) in equity
Balance at the beginning of the period	$ 10,126	$ 9,848
Net income	1,294	893
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(444)	77
Defined benefit pension and postretirement plans adjustment	119	84
Cash flow hedging instruments	47	6
Total other comprehensive income (loss), net of tax	(278)	167
Dividends declared	(847)	(830)
Stock-based compensation	117	112
Reacquired stock	(356)	(666)
Issuances pursuant to stock option and benefit plans	153	219
Balance at the end of the period	10,209	9,757
ASU 2016-02 Leases
Increase (decrease) in equity
Impact of ASUs		14
Common Stock and Additional Paid-in Capital
Increase (decrease) in equity
Balance at the beginning of the period	5,916	5,652
Other comprehensive income (loss), net of tax:
Stock-based compensation	117	112
Balance at the end of the period	6,033	5,764
Retained Earnings
Increase (decrease) in equity
Balance at the beginning of the period	42,135	40,636
Net income	1,292	891
Other comprehensive income (loss), net of tax:
Dividends declared	(847)	(830)
Issuances pursuant to stock option and benefit plans	(235)	(405)
Balance at the end of the period	42,345	41,159
Retained Earnings | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
Increase (decrease) in equity
Impact of ASUs		853
Retained Earnings | ASU 2016-02 Leases
Increase (decrease) in equity
Impact of ASUs		14
Treasury Stock
Increase (decrease) in equity
Balance at the beginning of the period	(29,849)	(29,626)
Other comprehensive income (loss), net of tax:
Reacquired stock	(356)	(666)
Issuances pursuant to stock option and benefit plans	388	624
Balance at the end of the period	(29,817)	(29,668)
Total Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in equity
Balance at the beginning of the period	(8,139)	(6,866)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(441)	77
Defined benefit pension and postretirement plans adjustment	119	84
Cash flow hedging instruments	47	6
Balance at the end of the period	(8,414)	(7,552)
Total Accumulated Other Comprehensive Income (Loss) | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
Increase (decrease) in equity
Impact of ASUs		(853)
Noncontrolling Interest
Increase (decrease) in equity
Balance at the beginning of the period	63	52
Net income	2	2
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(3)
Balance at the end of the period	$ 62	$ 54

Supplemental Equity and Compr_5

Supplemental Equity and Comprehensive Income Information - AOCI rf (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Attributable to 3M, Net of Tax Roll Forward
Stockholders' Equity Attributable to 3M, Beginning Balance	$ 10,063
Other comprehensive income (loss), before tax:
Stockholders' Equity Attributable to 3M, Ending Balance	10,147
Cumulative Translation Adjustment
AOCI Attributable to 3M, Net of Tax Roll Forward
Stockholders' Equity Attributable to 3M, Beginning Balance	(1,899)	$ (2,098)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(439)	103
Total other comprehensive income (loss), before tax	(439)	103
Tax effect	(2)	(26)
Total other comprehensive income (loss), net of tax	(441)	77
Stockholders' Equity Attributable to 3M, Ending Balance	(2,340)	(2,034)
Cumulative Translation Adjustment | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
AOCI Attributable to 3M, Net of Tax Roll Forward
Impact of ASUs		(13)
Defined Pension and Postretirement Plans Adjustment
AOCI Attributable to 3M, Net of Tax Roll Forward
Stockholders' Equity Attributable to 3M, Beginning Balance	(6,209)	(4,832)
Other comprehensive income (loss), before tax:
Amounts reclassified out	164	104
Total other comprehensive income (loss), before tax	164	104
Tax effect	(45)	(20)
Total other comprehensive income (loss), net of tax	119	84
Stockholders' Equity Attributable to 3M, Ending Balance	(6,090)	(5,565)
Defined Pension and Postretirement Plans Adjustment | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
AOCI Attributable to 3M, Net of Tax Roll Forward
Impact of ASUs		(817)
Cash Flow Hedging Instruments, Unrealized Gain (Loss)
AOCI Attributable to 3M, Net of Tax Roll Forward
Stockholders' Equity Attributable to 3M, Beginning Balance	(31)	64
Other comprehensive income (loss), before tax:
Amounts before reclassifications	77	13
Amounts reclassified out	(16)	(7)
Total other comprehensive income (loss), before tax	61	6
Tax effect	(14)
Total other comprehensive income (loss), net of tax	47	6
Stockholders' Equity Attributable to 3M, Ending Balance	16	47
Cash Flow Hedging Instruments, Unrealized Gain (Loss) | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
AOCI Attributable to 3M, Net of Tax Roll Forward
Impact of ASUs		(23)
Total Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to 3M, Net of Tax Roll Forward
Stockholders' Equity Attributable to 3M, Beginning Balance	(8,139)	(6,866)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(362)	116
Amounts reclassified out	148	97
Total other comprehensive income (loss), before tax	(214)	213
Tax effect	(61)	(46)
Total other comprehensive income (loss), net of tax	(275)	167
Stockholders' Equity Attributable to 3M, Ending Balance	$ (8,414)	(7,552)
Total Accumulated Other Comprehensive Income (Loss) | ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
AOCI Attributable to 3M, Net of Tax Roll Forward
Impact of ASUs		$ (853)

Supplemental Equity and Compr_6

Supplemental Equity and Comprehensive Income Information - Reclass AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Amount Reclassified from Accumulated Other Comprehensive Income
Net of tax	$ (107)	$ (78)
Defined Pension and Postretirement Plans Adjustment
Amount Reclassified from Accumulated Other Comprehensive Income
Transition asset	(1)
Prior service benefit	15	16
Net actuarial loss	(177)	(120)
Curtailments/Settlements	(1)
Total before tax	(164)	(104)
Tax effect	45	20
Net of tax	(119)	(84)
Cash Flow Hedging Instruments, Unrealized Gain (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income
Total before tax	16	7
Tax effect	(4)	(1)
Net of tax	12	6
Cash Flow Hedging Instruments, Unrealized Gain (Loss) | Foreign currency forward/option contracts
Amount Reclassified from Accumulated Other Comprehensive Income
Cost of sales	18	$ 7
Cash Flow Hedging Instruments, Unrealized Gain (Loss) | Interest rate contracts
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	$ (2)

Income Taxes - Tax Effected Ope

Income Taxes - Tax Effected Operating Loss, Capital Loss, and Tax Credit Carryovers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income tax
Net UTB impacting the effective tax rate	$ 1,107		$ 1,178
Deferred tax assets valuation allowance	$ 158		$ 158
Effective tax rate (as a percent)	17.40%	17.90%
Increase (decrease) in effective income tax rate from prior reporting period to current reporting period (as a percent)	(0.50%)
Decrease in unrecognized tax benefits due to resolution of a lawsuit	$ 52

Marketable Securities - Current

Marketable Securities - Current and non-current (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Marketable Securities
Current marketable securities	$ 224	$ 98
Non-current marketable securities	34	43
Total marketable securities	258	141
Commercial paper
Marketable Securities
Current marketable securities	194	85
Certificates of deposit/time deposits
Marketable Securities
Current marketable securities	6	10
U.S. municipal securities
Marketable Securities
Current marketable securities	24	3
Non-current marketable securities	$ 34	$ 43

Marketable Securities - Contrac

Marketable Securities - Contractual maturity (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Marketable securities by contractual maturity
Due in one year or less	$ 224
Due after one year through five years	14
Due after five years through ten years	20
Total marketable securities	$ 258	$ 141

Marketable Securities - Held-to

Marketable Securities - Held-to-Maturity Debt Securities (Details) $ in Billions	Dec. 31, 2019USD ($)
Third lien senior secured notes subject to in-substance
Held-to-Maturity Debt Securities
Held-to-maturity debt security	$ 0.5

Long-Term Debt and Short-Term_3

Long-Term Debt and Short-Term Borrowings - Long-Term Debt Issuances (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2020	Oct. 31, 2019
Debt instrument
Long-term debt	$ 21,072
Aggregate fixed rate registered notes
Debt instrument
Principal amount	1,750
Fixed rate registered note due 2025
Debt instrument
Principal amount	$ 500
Term of debt instrument	5 years
Coupon rate	2.65%
Fixed rate registered note due 2030
Debt instrument
Principal amount	$ 600
Term of debt instrument	10 years
Coupon rate	3.05%
Fixed rate registered note due 2050
Debt instrument
Principal amount	$ 650
Term of debt instrument	30 years
Coupon rate	3.70%
Acelity Inc. and its KCI subsidiaries | Third lien senior secured notes (Third Lien Notes) maturing 2021
Debt instrument
Principal amount		$ 445
Interest rate - effective		12.50%

Long-Term Debt and Short-Term_4

Long-Term Debt and Short-Term Borrowings - Short-Term Borrowings and Current Portion of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Long-Term Debt
Total long-term debt	$ 21,072
Commercial paper
Short-Term Borrowings and Current Portion of Long-Term Debt
Commercial paper outstanding	$ 585	$ 150

Long-Term Debt and Short-Term_5

Long-Term Debt and Short-Term Borrowings - Credit Facilities (Details) € in Millions, $ in Millions, ¥ in Billions	3 Months Ended
	Mar. 31, 2020EUR (€)	Mar. 31, 2020USD ($)	Mar. 31, 2020JPY (¥)	Mar. 31, 2020USD ($)	Nov. 30, 2019EUR (€)	Sep. 30, 2019JPY (¥)
Credit Facility expiring July 2020
Debt instrument
Current borrowing capacity | ¥						¥ 80
Other Short-term Borrowings			¥ 69	$ 641
Germany subsidiary credit facility | Credit Facility expiring November 2020
Debt instrument
Principal amount | €					€ 150
Maximum credit facility outstanding during period	€ 150	$ 167

Long-Term Debt and Short-Term_6

Long-Term Debt and Short-Term Borrowings - Future Maturities of Long-term Debt (Details) $ in Millions	Mar. 31, 2020USD ($)
Maturities of long-term debt
Remainder of 2020	$ 1,825
2021	1,682
2022	1,602
2023	1,809
2024	1,101
2025	1,788
After 2025	11,265
Total long-term debt	$ 21,072

Pension and Postretirement Be_3

Pension and Postretirement Benefit Plans - Components of net periodic benefit cost and other information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net periodic benefit cost (benefit)
Net periodic benefit cost (benefit)	$ (17)	$ (36)
Funded | Postretirement Benefits
Net periodic benefit cost (benefit)
Service cost	11	11
Interest cost	16	21
Expected return on plan assets	(20)	(20)
Amortization of prior service benefit	(8)	(7)
Amortization of net actuarial loss	12	9
Settlements, curtailments, special terminations and other	1
Total non-operating expense (benefit)	1	3
Net periodic benefit cost (benefit)	12	14
Funded | United States | Qualified and Non-qualified Pension Benefits
Net periodic benefit cost (benefit)
Service cost	66	62
Interest cost	124	155
Expected return on plan assets	(255)	(260)
Amortization of prior service benefit	(6)	(6)
Amortization of net actuarial loss	134	91
Total non-operating expense (benefit)	(3)	(20)
Net periodic benefit cost (benefit)	63	42
Funded | International | Qualified and Non-qualified Pension Benefits
Net periodic benefit cost (benefit)
Service cost	38	33
Interest cost	31	39
Expected return on plan assets	(77)	(75)
Amortization of transition asset	1
Amortization of prior service benefit	(1)	(3)
Amortization of net actuarial loss	31	20
Total non-operating expense (benefit)	(15)	(19)
Net periodic benefit cost (benefit)	$ 23	$ 14

Pension and Postretirement Be_4

Pension and Postretirement Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2020
Benefit Plan Information
Defined benefit pension and postretirement plans adjustment	$ (119)	$ (84)
Qualified and Non-qualified Pension Benefits | Funded
Benefit Plan Information
Company contributions year to date	38
Postretirement Benefits | Funded
Benefit Plan Information
Company contributions year to date	1
Total Accumulated Other Comprehensive Income (Loss)
Benefit Plan Information
Defined benefit pension and postretirement plans adjustment	$ (119)	$ (84)
Forecast | Qualified and Non-qualified Pension Benefits | Funded | Maximum
Benefit Plan Information
Estimated pension and postretirement employer contributions in current fiscal year			$ 200

Derivatives - Cash Flow Hedges

Derivatives - Cash Flow Hedges (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Treasury rate lock contracts
Derivatives in Cash Flow Hedging Relationships
Derivative notional amount	$ 500
Cash flow hedge
Derivatives in Cash Flow Hedging Relationships
Accumulated other comprehensive income (loss), unrealized gain (loss) on cash flow hedges	16
After-tax net unrealized gain (loss) anticipated to be reclassified from AOCI to the income statement within next twelve months	72
After-tax net unrealized gain (loss) anticipated to be reclassified from AOCI to the Income Statement over remaining fiscal year	57
After-tax net unrealized gain (loss) anticipated to be reclassifed from AOCI to the Income Statement over next fiscal year	45
After-tax unrealized gain (loss) anticipated to be reclassified from AOCI to the Income Statement after the next fiscal year	$ (86)
Cash flow hedge | Foreign currency forward/option contracts
Derivatives in Cash Flow Hedging Relationships
Maximum length of time hedged in interest rate cash flow hedge	36 months
Cash flow hedge | Interest rate contracts
Derivatives in Cash Flow Hedging Relationships
Accumulated other comprehensive income (loss), unrealized gain (loss) on cash flow hedges	$ (113)

Derivatives - Cash Flow Hedge_2

Derivatives - Cash Flow Hedges - Gain (Loss) in OCI or Reclassified from AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Foreign currency forward/option contracts | Cost of sales
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	$ 18	$ 7
Cash flow hedge
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative	77	13
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	16	7
Cash flow hedge | Foreign currency forward/option contracts
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative	79	30
Cash flow hedge | Foreign currency forward/option contracts | Cost of sales
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	18	7
Cash flow hedge | Interest rate contracts
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative	(2)	$ (17)
Cash flow hedge | Interest rate contracts | Interest expense
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	$ (2)

Derivatives - Cumulative Basis

Derivatives - Cumulative Basis Adjustment for Fair Value Hedges (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge	$ 1,276	$ 1,274
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	24	22
Short-term borrowings and current portion of long-term debt
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge	500	499
Long-term debt
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge	776	775
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 24	$ 22

Derivatives - Net Investment He

Derivatives - Net Investment Hedges (Details) - Net Investment Hedges € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020EUR (€)
Net investment hedges
Effective portion of net investment hedge reclassified out of other comprehensive income into income	$ 0	$ 0
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income on Effective Portion of Instrument	16	107
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income	5	5
Foreign currency forward contracts
Net investment hedges
Derivative notional amount | €			€ 200
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income on Effective Portion of Instrument	1	15
Foreign currency forward contracts | Cost of sales
Net investment hedges
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income	5	5
Foreign Currency Denominated Debt
Net investment hedges
Face amount of debt designated as a net investment hedge | €			€ 4,100
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income on Effective Portion of Instrument	$ 15	$ 92

Derivatives - Not Designated (D

Derivatives - Not Designated (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income	$ (12)	$ (10)
Foreign currency forward/option contracts | Cost of sales
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income	4	(2)
Foreign currency forward contracts | Interest expense
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income	$ (16)	$ (8)

Derivatives - Statement of Inco

Derivatives - Statement of Income Location and Impact of Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cost of sales
Derivatives in Fair Value Hedging Relationships
Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of cash flow or fair value hedges are recorded	$ 4,109	$ 4,310
Other expense (income), net
Derivatives in Fair Value Hedging Relationships
Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of cash flow or fair value hedges are recorded	96	48
Gain or (loss) on fair value hedging relationships:
Hedged items	(2)	(5)
Derivatives designated as hedging instruments	2	5
Foreign currency forward/option contracts | Cost of sales
Gain or (loss) on cash flow hedging relationships:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	18	7
Interest rate contracts | Other expense (income), net
Gain or (loss) on cash flow hedging relationships:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	(2)
Cash flow hedge
Gain or (loss) on cash flow hedging relationships:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	16	7
Cash flow hedge | Foreign currency forward/option contracts | Cost of sales
Gain or (loss) on cash flow hedging relationships:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	$ 18	$ 7

Derivatives - BS Location (Deta

Derivatives - BS Location (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	$ 205	$ 142
Fair Value of Derivative Instruments, Liabilities	22	20
Derivatives designated as hedging instruments
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	177	131
Fair Value of Derivative Instruments, Liabilities	3	12
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Other current assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	94	64
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Other assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	65	50
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Other current liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	2	9
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Other liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	1	3
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	1,919	1,995
Derivatives designated as hedging instruments | Foreign currency forward/option contracts | Noncurrent balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	939	1,041
Derivatives designated as hedging instruments | Interest rate contracts | Other assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	18	17
Derivatives designated as hedging instruments | Interest rate contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	500	500
Derivatives designated as hedging instruments | Interest rate contracts | Noncurrent balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	603	603
Derivatives not designated as hedging instruments
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	28	11
Fair Value of Derivative Instruments, Liabilities	19	8
Derivatives not designated as hedging instruments | Foreign currency forward/option contracts | Other current assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	28	11
Derivatives not designated as hedging instruments | Foreign currency forward/option contracts | Other current liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	19	8
Derivatives not designated as hedging instruments | Foreign currency forward/option contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	$ 2,601	$ 2,684

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets (Details)	3 Months Ended
	Mar. 31, 2020USD ($)Counterparty	Dec. 31, 2019USD ($)
Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties
Number of master netting agreements supported by primary counterparty's parent guarantee | Counterparty	17
Number of credit support agreements by primary counterparty | Counterparty	16
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	$ 205,000,000	$ 142,000,000
Cash Collateral Received	0	0
Net Amount of Derivative Assets	193,000,000	128,000,000
Derivatives subject to master netting agreements
Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	205,000,000	142,000,000
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities	12,000,000	14,000,000
Net Amount of Derivative Assets	$ 193,000,000	$ 128,000,000

Derivatives - Offsetting Liabil

Derivatives - Offsetting Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	$ 22	$ 20
Net Amount of Derivative Liabilities	10	6
Derivatives subject to master netting agreements
Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	22	20
Gross Amount of Eligible Offsetting Recognized Derivative Assets	12	14
Net Amount of Derivative Liabilities	$ 10	$ 6

Derivatives - Currency Effects

Derivatives - Currency Effects (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Foreign Currency
Year-on-year foreign currency transaction effects, including hedging impact, gain (loss) impact on pre-tax income	$ (1)

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	$ 258	$ 141
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	205	142
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	22	20
Fair value on a recurring basis | Foreign currency forward/option contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	187	125
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	22	20
Fair value on a recurring basis | Interest rate contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	18	17
Fair value on a recurring basis | Commercial paper
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	194	85
Fair value on a recurring basis | Certificates of deposit/time deposits
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	6	10
Fair value on a recurring basis | U.S. municipal securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	58	46
Fair value on a recurring basis | Investments
Assets and Liabilities Measured on Recurring Basis
Investments	18	25
Fair value on a recurring basis | Level 1 | Investments
Assets and Liabilities Measured on Recurring Basis
Investments	18	25
Fair value on a recurring basis | Level 2 | Foreign currency forward/option contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	187	125
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	22	20
Fair value on a recurring basis | Level 2 | Interest rate contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	18	17
Fair value on a recurring basis | Level 2 | Commercial paper
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	194	85
Fair value on a recurring basis | Level 2 | Certificates of deposit/time deposits
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	6	10
Fair value on a recurring basis | Level 2 | U.S. municipal securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	21
Fair value on a recurring basis | Level 3 | U.S. municipal securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	$ 37	$ 46

Fair Value Measurements - Rec_2

Fair Value Measurements - Recurring Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3)
Balance at the beginning of the period	$ 46	$ 40
Total gains or losses included in earnings	0	0
Total gains or losses included in other comprehensive income	0	0
Purchases and issuances	10	9
Sales and settlements	(19)	0
Transfers in and/or out of Level 3	0	0
Balance at the end of the period	37	49
Total gains or losses included in other comprehensive income	$ 0	$ 0

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring Basis (Details) - Fair value on a nonrecurring basis - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Assets and Liabilities Measured on Recurring or Nonrecurring Basis
Impairment of long-lived asset		$ 0
Maximum
Assets and Liabilities Measured on Recurring or Nonrecurring Basis
Adjustment to the carrying value of equity securities using the measurement alternative	$ (22,000,000)

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Carrying Value
Financial Instruments
Long-term debt, excluding current portion - Fair Value	$ 19,247	$ 17,518
Fair Value
Financial Instruments
Long-term debt, excluding current portion - Fair Value	$ 20,226	$ 18,475

Commitments and Contingencies -

Commitments and Contingencies - Respirator (Details)	1 Months Ended		3 Months Ended							12 Months Ended
	Apr. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)case	Mar. 31, 2020USD ($)lawsuit	Mar. 31, 2020USD ($)item	Mar. 31, 2020USD ($)	Mar. 31, 2020USD ($)individual	Mar. 31, 2019USD ($)	Dec. 31, 2019item
Respirator Mask/Asbestos Litigation
Loss contingencies
Total number of named claimants | item						1,733				1,727
Number of years company has been the defendant in Respirator Mask/Asbestos Litigation			20 years
Number of total claims the Company prevailed after being taken to trial				14	2
Number of total claims taken to trial | case				15
Increase in liabilities, gross									$ 313,000,000
Payments for fees and settlements related to litigation							$ 27,000,000
Insurance receivables			$ 4,000,000	$ 4,000,000	$ 4,000,000	$ 4,000,000	4,000,000	$ 4,000,000
Accrued loss contingency reserve			$ 589,000,000	589,000,000	$ 589,000,000	589,000,000	589,000,000	$ 589,000,000
Increase (decrease) accrued loss contingency reserve							8,000,000
Respirator Mask/Asbestos Litigation | State court of California
Loss contingencies
Number of total claims the Company prevailed after being taken to trial | lawsuit					1
Respirator Mask/Asbestos Litigation | State court of Kentucky
Loss contingencies
Number of unnamed defendant | individual								2
Respirator Mask/Asbestos Litigation | Kentucky and West Virginia
Loss contingencies
Settlement amount paid	$ 340,000,000	$ 340,000,000
Respirator Mask/Asbestos Litigation - State of West Virginia
Loss contingencies
Number of additional defendants			two
Accrued loss contingency reserve			$ 0	0	$ 0	0	0	$ 0
Respirator Mask/Asbestos Litigation - Aearo Technologies
Loss contingencies
Accrued loss contingency reserve			$ 58,000,000	$ 58,000,000	$ 58,000,000	$ 58,000,000	58,000,000	$ 58,000,000
Increase (decrease) accrued loss contingency reserve							9,000,000
Quarterly fee paid to Cabot to retain responsibility and liability for products manufactured before July 11, 1995							$ 100,000

Commitments and Contingencies_2

Commitments and Contingencies - Environmental (Details)	1 Months Ended					3 Months Ended
	Feb. 29, 2020USD ($)company	Dec. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Jul. 31, 2018USD ($)	Feb. 28, 2018USD ($)	Mar. 31, 2020USD ($)lawsuititemcasefacilitypersondefendant	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Environmental Matters - Remediation
Loss contingencies
Accrued loss contingency reserve | $						$ 21,000,000
Number of years remediation payments expected to be paid for applicable sites						20 years
Environmental Matters - Other
Loss contingencies
Accrued loss contingency reserve | $						$ 0
Insurance receivables | $						$ 35,000,000
Environmental Matters - Regulatory Activities
Loss contingencies
Number of years after phase-out decision in May 2000 that the Company stopped manufacturing and using vast majority of perfluorooctanyl compounds						2 years
Amount of PFOA and PFOS found in drinking water, either individually or combined, that are allowed per the EPA's announced lifetime health advisory levels in parts per trillion						70
Amount of PFOA in drinking water allowed per provisional health advisories in parts per trillion (superseded)						400
Amount of PFOS in drinking water allowed per provisional health advisories in parts per trillion (superseded)						200
Number of PFCs the EPA has required to have public water system suppliers monitor						6
Number of PFAS the EPA has required to have public water system suppliers monitor						6
Number compounds EPA asked for public comment on draft toxicity assessments for PFAS compounds, including PFBS						2
Number of public water supplies the EPA reported results						4,920
Number of water supplies that reported above advisory level with PFOA						13
Number of water supplies that reported above advisory level with PFOS						46
Number of water supplies that reported above advisory level with both PFOA and PFOS under technical advisory issued by EPA in September 2016						65
Environmental Matters - Regulatory Activities | Minimum
Loss contingencies
Number of water supply samples used to test for PFOA and PFOS under the EPA lifetime health advisory program						1
Environmental Matters - Regulatory Activities | Minnesota Department of Health
Loss contingencies
Amount of PFOA in drinking water allowed per Minnesota Department of Health in parts per trillion						35
Amount of PFOS in drinking water allowed per Minnesota Department of Health in parts per trillion						27
Additional amounts of PFOS in drinking water allowed per Minnesota Department of Health in parts per trillion						15
Amount of PFHxS in drinking water allowed per Minnesota Department of Health in parts per trillion						47
Amount of PFBS in drinking water allowed per Minnesota Department of Health in parts per billion						2
Environmental Matters - Litigation
Loss contingencies
Number of additional defendants						24
Environmental Matters - Litigation | U.S. District Court for the Northern District of Alabama
Loss contingencies
Number of plaintiffs						59
Environmental Matters - Litigation | Alabama
Loss contingencies
Litigation settlement awarded | $			$ 35,000,000
Number of local water works for whom the water authority supplies water						5
Environmental Matters - Litigation | Decatur, Alabama
Loss contingencies
Number of closed municipal landfills						3
Number of putative class action and other lawsuits | lawsuit						2
Environmental Matters - Litigation | Minnesota
Loss contingencies
Litigation settlement awarded | $									$ 897,000,000
Settlement amount paid | $					$ 850,000,000
Environmental Matters - Litigation | Lake Elmo, Minnesota | Maximum
Loss contingencies
Settlement amount paid | $			$ 5,000,000
Environmental Matters - Litigation | New Jersey
Loss contingencies
Number of lawsuits filed | lawsuit						2
Loss Contingency Parties Jointly and Severally Liable in Litigation						six
Environmental Matters - Litigation | Salem County, New Jersey
Loss contingencies
Number of facilities related to the manufacture and disposal of PFAS | facility						2
Environmental Matters - Litigation | State court in New York
Loss contingencies
Number of lawsuits filed | lawsuit						4
Environmental Matters - Litigation | State Court of Lawrence County, Alabama
Loss contingencies
Number of plaintiffs						200
Environmental Matters - Litigation | New Hampshire
Loss contingencies
Number of lawsuits filed | lawsuit						2
Loss Contingency Parties Jointly and Severally Liable in Litigation						seven
Environmental Matters - Litigation | Vermont
Loss contingencies
Number of lawsuits filed | lawsuit						2
Loss Contingency Parties Jointly and Severally Liable in Litigation						ten
Environmental Matters - Other Environmental Litigation | New Jersey
Loss contingencies
Number of unnamed defendant | defendant						120
Approximate number of miles of a river seeking to be cleaned						8
The value the award the plaintiff seeks | $				$ 165,000,000
Number of chemicals of concern in the sediment						8
Number of commercial drum conditioning facilities						2
Environmental Matters - Aqueous Film Forming Foam Litigation
Loss contingencies
Number of lawsuits filed | lawsuit						8
Number of putative class action and other lawsuits						576
Number of class action lawsuits | lawsuit						25
Number of cases filed by current or former firefighters | case						131
Environmental Matters - Aqueous Film Forming Foam Litigation | U.S. Judicial Panel on Multidistrict Litigation (MDL)
Loss contingencies
Number of lawsuits filed | lawsuit						568
Number of putative class action and other lawsuits | lawsuit						576
Environmental Matters - Aqueous Film Forming Foam Litigation | Various state courts
Loss contingencies
Number of lawsuits pending | lawsuit						5
Number of cases stayed | case						5
Environmental Matters - Aqueous Film Forming Foam Litigation | Federal court
Loss contingencies
Number of lawsuits pending | lawsuit						2
Environmental Matters - Other PFAS-related Environmental Litigation
Loss contingencies
Accrued loss contingency reserve | $						$ 407,000,000
Increase (decrease) accrued loss contingency reserve | $						25,000,000		$ 235,000,000
Litigation payments | $						$ 63,000,000
Number of landfills tested by the entity for environmental matters and litigation related to historical PFAS manufacturing operations						4
Charge for environmental resolutions | $							$ 214,000,000
Environmental Matters - Other PFAS-related Environmental Litigation | U.S. District Court of New York State
Loss contingencies
Number of lawsuits filed | lawsuit						42
Number of additional new claims filed | lawsuit						4
Number of putative class action and other lawsuits | lawsuit						1
Environmental Matters - Other PFAS-related Environmental Litigation | U.S. District Court of Eastern District of New York
Loss contingencies
Number of lawsuits pending | lawsuit						8
Environmental Matters - Other PFAS-related Environmental Litigation | Alabama
Loss contingencies
Number of perfluorinated materials (FBSA and FBSEE) the company cannot release into "the waters of the United States."						2
Number of putative class action and other lawsuits | lawsuit						4
Environmental Matters - Other PFAS-related Environmental Litigation | Georgia
Loss contingencies
Number of putative class action and other lawsuits | lawsuit						1
Environmental Matters - Other PFAS-related Environmental Litigation | Cities located downstream along the Coosa River
Loss contingencies
Number of putative class action and other lawsuits | lawsuit						3
Environmental Matters - Other PFAS-related Environmental Litigation | Michigan
Loss contingencies
Number of plaintiffs | person						1
Settlement amount paid | $	$ 55,000,000	$ 70,000,000
Number of lawsuits filed | lawsuit						262
Number of federal bellwether cases with trial-ready dates set | lawsuit						4
Number of federal bellwether cases the court issued the first round of dispositive motion rulings | lawsuit						2
Number of putative class action and other lawsuits | lawsuit						1
Number of companies involved in agreement | company	2
Environmental Matters - Other PFAS-related Environmental Litigation | Delaware.
Loss contingencies
Number of putative class action and other lawsuits | lawsuit						1

Commitments and Contingencies_3

Commitments and Contingencies - Product Liability (Details)	2 Months Ended	3 Months Ended
	Dec. 31, 2019lawsuit	Mar. 31, 2020USD ($)lawsuititemindividual	Feb. 29, 2020lawsuit
U.S. District Court for the District of Minnesota
Product Liability Litigation
Number of derivative lawsuits filed	2
Product Liability - Bair Hugger
Product Liability Litigation
Number of lawsuits filed		18
Number of plaintiffs | item		21
Accrued loss contingency reserve | $		$ 0
Product Liability - Bair Hugger | United States
Product Liability Litigation
Number of lawsuits filed		18
Product Liability - Bair Hugger | Canada
Product Liability Litigation
Number of putative class action and other lawsuits		1
Product Liability - Bair Hugger | Various federal courts
Product Liability Litigation
Number of plaintiffs | item		5,000
Product Liability - Bair Hugger | Multi-district litigation (MDL)
Product Liability Litigation
Number of lawsuits pending	15	14
Product Liability - Bair Hugger | State court
Product Liability Litigation
Number of total claims dismissed		3
Product Liability - Bair Hugger | U.S. District Court for Oklahoma
Product Liability Litigation
Number of total claims dismissed		1
Product Liability - Bair Hugger | U.S. District Court for the District of Minnesota
Product Liability Litigation
Number of lawsuits filed		61
Product Liability - Bair Hugger and medical malpractice claims | Hidalgo County Texas
Product Liability Litigation
Number of lawsuits pending			1
Product Liability - Bair Hugger and medical malpractice claims | Jackson County Missouri
Product Liability Litigation
Number of lawsuits pending			2
Product Liability - Dual-Ended Combat Arms Earplugs
Product Liability Litigation
Number of lawsuits filed		2,787
Number of putative class action and other lawsuits		14
Number of plaintiffs | individual		11,582

Commitments and Contingencies_4

Commitments and Contingencies - Federal False Claims Act / Qui Tam Litigation (Details) - Federal False Claims Act / Qui Tam Litigation	3 Months Ended
	Mar. 31, 2020lawsuitperson
Loss contingencies
Number of actions declined to intervene	2
Number of lawsuits pending	2
Number of former employees | person	2
Godecke case
Loss contingencies
Number of lawsuits pending	1

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	3 Months Ended
	Mar. 31, 2020ageshares
Share-based Compensation Arrangement by Share-based Payment Award Activity
Retirement age eligibility for employees | age	55
Retirement eligibility for employees, minimum years of service required	10 years
Percent of stock-based compensation related to retiree-eligible population (as a percent)	35.00%
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award Activity
Number of shares authorized	123,965,000
Number of shares available for grant	15,700,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Amounts recognized in the financial statements
Stock-based compensation programs expense	$ 120	$ 130
Income tax benefits	(39)	(80)
Stock-based compensation expenses (benefits), net of tax	81	50
Cost of sales
Amounts recognized in the financial statements
Stock-based compensation programs expense	22	22
Selling, general and administrative expenses
Amounts recognized in the financial statements
Stock-based compensation programs expense	73	82
Research, development and related expenses
Amounts recognized in the financial statements
Stock-based compensation programs expense	$ 25	$ 26

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Option Program
Balance at the beginning of the period	33,675
Granted - Annual	4,741
Exercised	(1,159)
Forfeited	(41)
Balance at the end of the period	37,216
Options exercisable	29,173
Options exercisable, exercise price	$ 146.86
Weighted average exercise price - Beginning balance	151.15
Weighted average exercise price - Granted - Annual	157.26
Weighted average exercise price - Exercised	87.25
Weighted average exercise price - Forfeited	193.77
Weighted average exercise price - Ending balance	$ 153.87
Weighted average remaining contractual life for options outstanding	70 months
Weighted average remaining contractual life for options exercisable	58 months
Aggregate intrinsic value for options outstanding	$ 359
Aggregate intrinsic value for options exercisable	$ 359
Expiration of annual grants	10 years
Compensation expense yet to be recognized	$ 107
Expense recognition period	25 months
Total intrinsic value of stock options exercised	$ 98	$ 235
Cash received from options exercised	100	162
Tax benefit realized from exercise of stock options	$ 20	$ 49
Share- based compensation assumptions
Weighted average exercise price	$ 157.24
Risk-free interest rate (as a percent)	1.50%
Dividend yield (as a percent)	2.70%
Expected volatility (as a percent)	19.70%
Expected life	78 months
Black-Scholes fair value	$ 21.58
Maximum
Stock Option Program
Vesting period	3 years
Minimum
Stock Option Program
Vesting period	1 year

Stock-Based Compensation - RSU,

Stock-Based Compensation - RSU, RS, Performance Shares (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restricted Stock and Restricted Stock Units
Unit and Shares Activity:
Number of Shares - Nonvested - Beginning balance	1,573
Number of Shares - Granted - Annual	733
Number of Shares - Granted - Other	10
Number of Shares - Vested	(553)
Number of Shares - Forfeited	(16)
Number of Shares - Nonvested - Ending balance	1,747
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Weighted Average Grant Date Fair Value - Nonvested - Beginning balance	$ 201.11
Weighted Average Grant Date Fair Value - Granted - Annual	157.29
Weighted Average Grant Date Fair Value - Granted - Other	175.81
Weighted Average Grant Date Fair Value - Vested	176.16
Weighted Average Grant Date Fair Value - Forfeited	193.91
Weighted Average Grant Date Fair Value - Nonvested - Ending balance	$ 190.55
Compensation expense yet to be recognized	$ 132
Expense recognition period	27 months
Fair value that vested	$ 88	$ 133
Tax benefit realized from vesting	$ 16	26
Vesting or performance period	3 years
Value of dividend equivalents for restricted stock units that are forfeited	$ 0
Impact on basic earnings per share due to restricted stock units dividends	$ 0
Performance Shares
Unit and Shares Activity:
Number of Shares - Nonvested - Beginning balance	444
Number of Shares - Granted - Annual	191
Number of Shares - Vested	(206)
Number of Shares - Performance Change	10
Number of Shares - Forfeited	0
Number of Shares - Nonvested - Ending balance	439
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Weighted Average Grant Date Fair Value - Nonvested - Beginning balance	$ 205.58
Weighted Average Grant Date Fair Value - Granted - Annual	153.02
Weighted Average Grant Date Fair Value - Vested	190.84
Weighted Average Grant Date Fair Value - Performance Change	116.06
Weighted Average Grant Date Fair Value - Forfeited	231.34
Weighted Average Grant Date Fair Value - Nonvested - Ending balance	$ 187.50
Compensation expense yet to be recognized	$ 40
Expense recognition period	23 months
Fair value that vested	$ 35	45
Tax benefit realized from vesting	$ 7	$ 9
Vesting or performance period	3 years
Performance shares awarded at estimated number of shares at the end of the performance period	100.00%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Expense recognition period	3 years
Number of shares to be delivered based on percent of each performance share granted upon satisfaction of performance conditions	200.00%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Expense recognition period	1 year
Number of shares to be delivered based on percent of each performance share granted upon satisfaction of performance conditions	0.00%

Business Segments (Details)

Business Segments (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)segment
Business Segment Information
Number of business segments | segment	4
Business Segments in Aggregate
Business Segment Information
Increase (decrease) in net sales due to continued alignment of customer account activity	$ (42)
Increase (decrease) in operating income due to continued alignment of customer account activity	(10)
Safety and Industrial
Business Segment Information
Increase (decrease) in net sales due to additional actions impacting business segment reporting	(35)
Increase (decrease) in operating income due to additional actions impacting business segment reporting	(11)
Consumer
Business Segment Information
Increase (decrease) in net sales due to additional actions impacting business segment reporting	35
Increase (decrease) in operating income due to additional actions impacting business segment reporting	11
Elimination of Dual Credit
Business Segment Information
Increase (decrease) in net sales due to continued alignment of customer account activity	(42)
Increase (decrease) in operating income due to continued alignment of customer account activity	$ (10)

Business Segments (Details)_2

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Business Segment Information
Net sales	$ 8,075	$ 7,863
Operating Income	1,663	1,136
Assets	46,212		$ 44,659
Depreciation and amortization	440	375
Capital expenditures	332	391
Property, Plant and Equipment - net	9,165		$ 9,333
Business Segments. | Safety and Industrial
Business Segment Information
Net sales	2,935	2,963
Operating Income	726	637
Business Segments. | Transportation and Electronics
Business Segment Information
Net sales	2,238	2,355
Operating Income	484	522
Business Segments. | Health Care
Business Segment Information
Net sales	2,103	1,738
Operating Income	456	464
Business Segments. | Consumer
Business Segment Information
Net sales	1,256	1,200
Operating Income	269	235
Corporate and Unallocated
Business Segment Information
Net sales	1	22
Operating Income	(156)	(625)
Elimination of Dual Credit
Business Segment Information
Net sales	(458)	(415)
Operating Income	$ (116)	$ (97)