3M (MMM) 10-Q 27 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2021shares
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, 2021
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	579,675,002
Document Fiscal Year Focus	2021
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
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, 2021	Mar. 31, 2020
Consolidated Statement of Income
Net sales	$ 8,851	$ 8,075
Operating expenses
Cost of sales	4,525	4,109
Selling, general and administrative expenses	1,808	1,768
Research, development and related expenses	524	537
Gain on sale of businesses		(2)
Total operating expenses	6,857	6,412
Operating income	1,994	1,663
Interest expense and income
Other expense (income), net	49	75
Income before income taxes	1,945	1,588
Provision for income taxes	319	278
Income of consolidated group	1,626	1,310
Income (loss) from unconsolidated subsidiaries, net of taxes	1
Net income including noncontrolling interest	1,627	1,310
Less: Net income (loss) attributable to noncontrolling interest	3	2
Net income attributable to 3M	$ 1,624	$ 1,308
Weighted average 3M common shares outstanding - basic (in shares)	580.5	576.8
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)	$ 2.80	$ 2.27
Weighted average 3M common shares outstanding - diluted (in shares)	586.3	581.5
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)	$ 2.77	$ 2.25

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Consolidated Statement of Comprehensive Income
Net income including noncontrolling interest	$ 1,627	$ 1,310
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(222)	(444)
Defined benefit pension and postretirement plans adjustment	119	108
Cash flow hedging instruments	58	47
Total other comprehensive income (loss), net of tax	(45)	(289)
Comprehensive income (loss) including noncontrolling interest	1,582	1,021
Comprehensive (income) loss attributable to noncontrolling interest	(4)	1
Comprehensive income (loss) attributable to 3M	$ 1,578	$ 1,022

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 4,636	$ 4,634
Marketable securities - current	501	404
Accounts receivable - net of allowances of $231 and $233	4,817	4,705
Inventories
Finished goods	2,215	2,081
Work in process	1,249	1,226
Raw materials and supplies	994	932
Total inventories	4,458	4,239
Prepaids	535	675
Other current assets	398	325
Total current assets	15,345	14,982
Property, plant and equipment	26,705	26,650
Less: Accumulated depreciation	(17,465)	(17,229)
Property, plant and equipment - net	9,240	9,421
Operating lease right of use assets	871	864
Goodwill	13,654	13,802
Intangible assets - net	5,697	5,835
Other assets	2,373	2,440
Total assets	47,180	47,344
Current liabilities
Short-term borrowings and current portion of long-term debt	1,368	806
Accounts payable	2,670	2,561
Accrued payroll	655	747
Accrued income taxes	277	300
Operating lease liabilities - current	267	256
Other current liabilities	3,126	3,278
Total current liabilities	8,363	7,948
Long-term debt	16,819	17,989
Pension and postretirement benefits	4,231	4,405
Operating lease liabilities	609	609
Other liabilities	3,330	3,462
Total liabilities	33,352	34,413
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, 2021: 579,675,002; Shares outstanding - December 31, 2020: 577,749,638	9	9
Additional paid-in capital	6,283	6,162
Retained earnings	44,255	43,821
Treasury stock, at cost: Shares at March 31, 2021: 364,358,054; Shares at December 31, 2020: 366,283,418	(29,020)	(29,404)
Accumulated other comprehensive income (loss)	(7,767)	(7,721)
Total 3M Company shareholders' equity	13,760	12,867
Noncontrolling interest	68	64
Total equity	13,828	12,931
Total liabilities and equity	$ 47,180	$ 47,344

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheet
Allowances for doubtful accounts receivable	$ 231	$ 233
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)	579,675,002	577,749,638
Treasury stock (in shares)	364,358,054	366,283,418

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income including noncontrolling interest	$ 1,627	$ 1,310
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities
Depreciation and amortization	460	440
Company pension and postretirement contributions	(47)	(39)
Company pension and postretirement expense	47	77
Stock-based compensation expense	131	120
Gain on sale of businesses		(2)
Deferred income taxes	16	29
Changes in assets and liabilities
Accounts receivable	(205)	(143)
Inventories	(304)	(207)
Accounts payable	155	12
Accrued income taxes (current and long-term)	42	68
Other - net	(234)	(452)
Net cash provided by (used in) operating activities	1,688	1,213
Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E)	(310)	(332)
Proceeds from sale of PP&E and other assets	32	7
Acquisitions, net of cash acquired		(25)
Purchases of marketable securities and investments	(428)	(318)
Proceeds from maturities and sale of marketable securities and investments	318	207
Proceeds from sale of businesses, net of cash sold		86
Other - net	19
Net cash provided by (used in) investing activities	(369)	(375)
Cash Flows from Financing Activities
Change in short-term debt - net	6	462
Repayment of debt (maturities greater than 90 days)	(450)
Proceeds from debt (maturities greater than 90 days)		1,745
Purchases of treasury stock	(231)	(365)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans	293	149
Dividends paid to shareholders	(858)	(847)
Other - net	(11)	(36)
Net cash provided by (used in) financing activities	(1,251)	1,108
Effect of exchange rate changes on cash and cash equivalents	(66)	(46)
Net increase (decrease) in cash and cash equivalents	2	1,900
Cash and cash equivalents at beginning of year	4,634	4,634
Cash and cash equivalents at end of period	$ 4,636	$ 4,253

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	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. ​ Effective in the first quarter of 2021, 3M made the following changes. Information provided herein reflects the impact of these changes for all periods presented. ● Change in accounting principle for net periodic pension and postretirement plan cost. See below for additional information. ● Change in measure of segment operating performance used by 3M’s chief operating decision maker—impacting 3M’s disclosed measure of segment profit/loss (business segment operating income). See additional information in Note 16. ● Change in alignment of certain products within 3M’s Consumer business segment—creating the Consumer Health and Safety Division. See additional information in Note 16. ​ Change in Accounting Principle for Determining Net Periodic Pension and Postretirement Plan Cost ​ In the first quarter of 2021, 3M changed the method it uses to calculate the market-related value of fixed income securities included in its pension and other postretirement plan assets. The market-related value is used to determine the expected return on plan assets and the amortization of net unamortized actuarial gains or losses expense components of net periodic benefit cost. The Company previously used the calculated value approach for all plan assets, deferring over three years the impact on these amounts of asset gains or losses that differed from expected returns. 3M changed to the fair value approach for calculating market-related value for the fixed income class of plan assets, which does not involve deferring the impact of excess plan asset gains or losses in the determination of these two components of net periodic benefit cost. 3M considers the use of the fair value approach preferrable to the calculated value approach as it results in a more current reflection of impacts of changes in value of these plan assets in the determination of net periodic benefit cost. Additionally, given the plans’ liability-driven investment strategy whereby the changes in value of the fixed income plan assets should offset changes in the value of the plans’ liabilities, this approach more closely aligns the expected return on plan assets expense component with the value reflected in the plans’ funded status. This change was applied retrospectively to all periods presented within 3M’s financial statements. The change did not impact consolidated operating income or net cash provided by operating activities but did impact the previously reported portion of pension and postretirement net periodic benefit cost (benefit) that was included within non-operating other expense (income) along with related consolidated income items such as net income and earnings per share. Other impacts included related changes to previously reported consolidated other comprehensive income, retained earnings, accumulated other comprehensive income (loss), and associated line items within the determination of net cash provided by operating activities. For classes of plan assets other than fixed income investments, the Company continues to use the calculated value approach to determine their market-related value. ​ The adoption of this change impacted previously reported amounts included herein as indicated in the tables below. ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions, except per share amounts) ​ Method ​ As Adjusted ​ Other expense (income), net ​ $ 96 ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ $ 1,567 ​ $ 1,588 ​ Provision for income taxes ​ ​ 273 ​ ​ 278 ​ Income of consolidated group ​ $ 1,294 ​ $ 1,310 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Net income attributable to 3M ​ $ 1,292 ​ $ 1,308 ​ Earnings per share attributable to 3M common shareholders — basic ​ $ 2.24 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders — diluted ​ $ 2.22 ​ $ 2.25 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Comprehensive Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ Defined benefit pension and postretirement plans adjustment ​ $ 119 ​ $ 108 ​ Total other comprehensive income (loss), net of tax ​ $ (278) ​ $ (289) ​ Comprehensive income (loss) including noncontrolling interest ​ $ 1,016 ​ $ 1,021 ​ Comprehensive income (loss) attributable to 3M ​ $ 1,017 ​ $ 1,022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Balance Sheet ​ ​ As of December 31, 2020 ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted Retained Earnings ​ $ 43,761 ​ $ 43,821 Accumulated other comprehensive income (loss) ​ $ (7,661) ​ $ (7,721) ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Cash Flows ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Company pension and postretirement expense ​ $ 98 ​ $ 77 ​ Other — net ​ $ (457) ​ $ (452) ​ ​ The cumulative adjustment as of January 1, 2020, the beginning of the earliest period presented in the consolidated financial statements included herein, was a $5 million reduction to each of retained earnings and accumulated ​ 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 (8.7 million and 19.2 million average options for the three months ended March 31, 2021 and 2020, 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) 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,624 ​ $ 1,308 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 580.5 ​ 576.8 ​ Dilution associated with the Company’s stock-based compensation plans ​ 5.8 ​ 4.7 ​ Denominator for weighted average 3M common shares outstanding – ​ 586.3 ​ 581.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.80 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.77 ​ $ 2.25 ​ ​ New Accounting Pronouncements ​ Refer to Note 1 in 3M’s 2020 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. 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 Adoption of this ASU did not have a material impact on 3M’s 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 Adoption of this ASU did not have a material impact on 3M’s consolidated results of operations and financial condition. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Scope Provides temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates, such as SOFR. Effective upon ASUs’ issuances in 2020 & 2021 With the beginning of the phase out of LIBOR at the end of 2021, 3M continues to evaluate commercial contracts that may utilize LIBOR and will continue to monitor developments during the LIBOR transition period. ​ ​ ​ ​ ​ ​

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
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, 2021 and December 31, 2020 was $482 million and $498 million, respectively. Approximately $180 million of the December 31, 2020 balance was recognized as revenue during the three months ended March 31, 2021, while approximately $160 million of the December 31, 2019 balance was recognized as revenue during the three months ended March 31, 2020. ​ Operating Lease Revenue: Net sales includes rental revenue from durable medical devices as part of operating lease arrangements (reported within the Medical Solutions Division), which was $140 million and $142 million for the three months ended March 31, 2021 and 2020, respectively. 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) ​ 2021 2020 ​ Abrasives ​ $ 352 ​ $ 330 ​ Automotive Aftermarket ​ ​ 312 ​ ​ 284 ​ Closure and Masking Systems ​ ​ 243 ​ ​ 268 ​ Electrical Markets ​ ​ 307 ​ ​ 288 ​ Industrial Adhesives and Tapes ​ ​ 768 ​ ​ 671 ​ Personal Safety ​ ​ 1,237 ​ ​ 989 ​ Roofing Granules ​ ​ 108 ​ ​ 95 ​ Other Safety and Industrial ​ ​ — ​ ​ 2 ​ Total Safety and Industrial Business Segment ​ $ 3,327 ​ $ 2,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced Materials ​ $ 316 ​ $ 288 ​ Automotive and Aerospace ​ ​ 516 ​ ​ 448 ​ Commercial Solutions ​ ​ 438 ​ ​ 430 ​ Electronics ​ ​ 1,042 ​ ​ 863 ​ Transportation Safety ​ ​ 218 ​ ​ 211 ​ Other Transportation and Electronics ​ ​ 1 ​ ​ (1) ​ Total Transportation and Electronics Business Segment ​ $ 2,531 ​ $ 2,239 ​ ​ ​ ​ ​ ​ ​ ​ ​ Drug Delivery ​ $ — ​ $ 105 ​ Food Safety ​ ​ 88 ​ ​ 91 ​ Health Information Systems ​ ​ 289 ​ ​ 277 ​ Medical Solutions ​ ​ 1,267 ​ ​ 1,153 ​ Oral Care ​ ​ 363 ​ ​ 277 ​ Separation and Purification Sciences ​ ​ 241 ​ ​ 202 ​ Other Health Care ​ ​ — ​ ​ (1) ​ Total Health Care Business Group ​ $ 2,248 ​ $ 2,104 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Health and Safety ​ $ 150 ​ $ 172 ​ Home Care ​ ​ 279 ​ ​ 271 ​ Home Improvement ​ ​ 623 ​ ​ 503 ​ Stationery and Office ​ ​ 285 ​ ​ 268 ​ Other Consumer ​ ​ 36 ​ ​ 36 ​ Total Consumer Business Group ​ $ 1,373 ​ $ 1,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and Unallocated ​ $ (2) ​ $ — ​ Elimination of Dual Credit ​ ​ (626) ​ ​ (445) ​ Total Company ​ $ 8,851 ​ $ 8,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2021 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,697 ​ $ 823 ​ $ 807 ​ $ — ​ $ 3,327 ​ Transportation and Electronics ​ 650 ​ 1,490 ​ 391 ​ — ​ 2,531 ​ Health Care ​ ​ 1,311 ​ ​ 408 ​ ​ 529 ​ ​ — ​ ​ 2,248 ​ Consumer ​ 949 ​ 278 ​ 146 ​ — ​ 1,373 ​ Corporate and Unallocated ​ (1) ​ — ​ — ​ (1) ​ (2) ​ Elimination of Dual Credit ​ (278) ​ (230) ​ (118) ​ — ​ (626) ​ Total Company ​ $ 4,328 ​ $ 2,769 ​ $ 1,755 ​ $ (1) ​ $ 8,851 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,517 ​ $ 712 ​ $ 698 ​ $ — ​ $ 2,927 ​ Transportation and Electronics ​ 675 ​ 1,202 ​ 362 ​ — ​ 2,239 ​ Health Care ​ ​ 1,281 ​ ​ 356 ​ ​ 467 ​ ​ — ​ ​ 2,104 ​ Consumer ​ 874 ​ 250 ​ 127 ​ (1) ​ 1,250 ​ Corporate and Unallocated ​ 1 ​ — ​ — ​ (1) ​ — ​ Elimination of Dual Credit ​ (206) ​ (175) ​ (64) ​ — ​ (445) ​ Total Company ​ $ 4,142 ​ $ 2,345 ​ $ 1,590 ​ $ (2) ​ $ 8,075 ​ ​ Americas included United States net sales of $3.6 billion and $3.4 billion for the three months ended March 31, 2021 and 2020, respectively. ​

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2021
Acquisitions and Divestitures
Acquisitions and Divestitures	NOTE 3. Acquisitions and Divestitures ​ Refer to Note 3 in 3M’s 2020 Annual Report on Form 10-K for more information on relevant pre-2021 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. ​ 2021 acquisitions: ​ There were no acquisitions that closed during the three months ended March 31, 2021. ​ 2020 acquisitions: ​ There were no acquisitions that closed during the year ended December 31, 2020. 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. ​ 2021 divestitures: ​ There were no divestitures that closed during the three months ended March 31, 2021. ​ 2020 divestitures: ​ During 2020, as described in Note 3 in 3M’s 2020 Annual Report on Form 10-K, the Company divested its advanced ballistic-protection business, substantially all of its drug delivery business, and a small dermatology products business. ​ Operating income and held for sale amounts : The aggregate operating income of applicable businesses held for sale with respect to the first three months of 2020 was $25 million. ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
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 2021. 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, 2020 and March 31, 2021, follow: ​ Goodwill ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ Safety and Industrial ​ Transportation and Electronics ​ Health Care ​ Consumer ​ Total Company ​ Balance as of December 31, 2020 ​ $ 4,687 ​ $ 1,858 ​ $ 6,992 ​ $ 265 ​ $ 13,802 ​ Translation and other ​ ​ (29) ​ ​ (14) ​ ​ (98) ​ ​ (7) ​ ​ (148) ​ Balance as of March 31, 2021 ​ $ 4,658 ​ $ 1,844 ​ $ 6,894 ​ $ 258 ​ $ 13,654 ​ ​ 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 2021, 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. 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, 2021 and December 31, 2020, follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2021 2020 Customer related intangible assets ​ $ 4,266 ​ $ 4,280 ​ Patents ​ 517 ​ 537 ​ Other technology-based intangible assets ​ 2,113 ​ 2,114 ​ Definite-lived tradenames ​ 1,172 ​ 1,178 ​ Other amortizable intangible assets ​ 104 ​ 104 ​ Total gross carrying amount ​ $ 8,172 ​ $ 8,213 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization — customer related ​ (1,473) ​ (1,422) ​ Accumulated amortization — patents ​ (495) ​ (512) ​ Accumulated amortization — other technology-based ​ (687) ​ (638) ​ Accumulated amortization — definite-lived tradenames ​ (397) ​ (385) ​ Accumulated amortization — other ​ (78) ​ (79) ​ Total accumulated amortization ​ $ (3,130) ​ $ (3,036) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total finite-lived intangible assets — net ​ $ 5,042 ​ $ 5,177 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-amortizable intangible assets (primarily tradenames) ​ 655 ​ 658 ​ Total intangible assets — net ​ $ 5,697 ​ $ 5,835 ​ ​ Certain tradenames acquired by 3M are not amortized because they have been in existence for over 60 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 first quarter of 2020. ​ Amortization expense for the three months ended March 31, 2021 and 2020 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2021 2020 Amortization expense ​ $ 133 ​ $ 134 ​ Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After (Millions) ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2026 ​ 2026 Amortization expense ​ $ 395 ​ $ 514 ​ $ 488 ​ $ 458 ​ $ 428 ​ $ 421 ​ $ 2,338 ​ ​ 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, 2021
Restructuring Actions and Exit Activities
Restructuring Actions and Exit Activities	NOTE 5. Restructuring Actions and Exit Activities 2020 and 2021 Restructuring Actions: ​ Operational/Marketing Capability Restructuring: ​ As described in Note 5 in 3M’s 2020 Annual Report on Form 10-K, in late 2020, 3M announced it would undertake certain actions to further enhance its operations and marketing capabilities to take advantage of certain global market trends while de-prioritizing investments in slower-growth end markets. During the fourth quarter of 2020, management approved and committed to undertake associated restructuring actions impacting approximately 2,100 positions resulting in a pre-tax charge of $137 million. In the first quarter of 2021, management approved and committed to undertake additional actions under this initiative resulting in a pre-tax charge of $14 million. Remaining activities related to the restructuring actions approved and committed under this initiative are expected to be largely completed through 2021. 3M is planning further actions under this initiative throughout 2021. This aggregate initiative, spanning 2020 and 2021, is expected to impact approximately 2,900 positions worldwide with an expected pre-tax charge of $250 to $300 million. The related first quarter 2021 restructuring charges were recorded in the income statement as follows: ​ ​ ​ ​ ​ (Millions) ​ First Quarter 2021 Cost of sales ​ $ 1 Selling, general and administrative expenses ​ 9 Research, development and related expenses ​ 4 Total operating income impact ​ $ 14 ​ The business segment operating income impact of these restructuring charges is summarized as follows: ​ ​ ​ ​ ​ ​ ​ First Quarter 2021 (Millions) Employee-Related Safety and Industrial ​ $ 2 Transportation and Electronics ​ ​ 3 Health Care ​ ​ 1 Consumer ​ ​ 1 Corporate and Unallocated ​ 7 Total Operating Expense ​ $ 14 ​ Restructuring actions, including cash and non-cash impacts, follow: ​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2020 ​ $ 101 ​ Incremental expense incurred in the first quarter of 2021 ​ $ 14 ​ Cash payments ​ (14) ​ Accrued restructuring action balances as of March 31, 2021 ​ $ 101 ​ ​ Divestiture-Related Restructuring ​ As described in Note 5 in 3M’s 2020 Annual Report on Form 10-K, during the second quarter of 2020, following the divestiture of substantially all of the drug delivery business, management approved and committed to undertake certain restructuring actions addressing corporate functional costs and manufacturing footprint across 3M in relation to the magnitude of amounts previously allocated/burdened to the divested business. These actions affected approximately 1,300 positions worldwide and resulted in a second quarter 2020 pre-tax charge of $55 million, within Corporate and Unallocated. ​ Divestiture-related restructuring actions, including cash and non-cash impacts, follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) Employee-Related Asset-Related and Other Total Accrued divestiture-related restructuring action balances as of December 31, 2020 ​ $ 15 ​ $ 9 ​ $ 24 ​ Cash payments ​ ​ (1) ​ ​ — ​ ​ (1) ​ Adjustments ​ ​ (1) ​ ​ — ​ ​ (1) ​ Accrued divestiture-related restructuring action balances as of March 31, 2021 ​ $ 13 ​ $ 9 ​ $ 22 ​ ​ Remaining activities related to this divestiture-related restructuring are expected to be largely completed through the third quarter of 2021. ​ Other Restructuring ​ As described in Note 5 in 3M’s 2020 Annual Report on Form 10-K, in the second quarter of 2020, management approved and committed to undertake certain restructuring actions addressing structural enterprise costs and operations in certain end markets as a result of the COVID-19 pandemic and related economic impacts. These actions affected approximately 400 positions worldwide and resulted in a second quarter 2020 pre-tax charge of $58 million. ​ Restructuring actions, including cash and non-cash impacts, follow: ​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2020 ​ $ 24 ​ Cash payments ​ ​ (4) ​ Adjustments ​ ​ (9) ​ Accrued restructuring action balances as of March 31, 2021 ​ $ 11 ​ ​ Remaining activities related to this restructuring are expected to be largely completed through the second quarter of 2021.

Supplemental Income Statement I

Supplemental Income Statement Information	3 Months Ended
	Mar. 31, 2021
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) ​ 2021 2020 Interest expense ​ $ 132 ​ $ 123 Interest income ​ (4) ​ (10) Pension and postretirement net periodic benefit cost (benefit) ​ ​ (79) ​ ​ (38) Total ​ $ 49 ​ $ 75 ​ Interest expense includes an early debt extinguishment pre-tax charge of approximately $11 million in the first quarter of 2021. ​ 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, 2021
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 $1.48 and $1.47 per share for the first quarter 2021 and 2020, respectively. ​ Consolidated Changes in Equity ​ Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020 $ 12,931 $ 6,171 $ 43,821 $ (29,404) $ (7,721) $ 64 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,627 ​ ​ ​ ​ 1,624 ​ ​ ​ ​ ​ ​ ​ 3 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (222) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (223) ​ 1 ​ Defined benefit pension and post-retirement plans adjustment ​ 119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 119 ​ — ​ Cash flow hedging instruments ​ 58 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 58 ​ — ​ Total other comprehensive income (loss), net of tax ​ (45) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (858) ​ ​ ​ ​ (858) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 121 ​ 121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (243) ​ ​ ​ ​ ​ ​ ​ (243) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 295 ​ ​ ​ ​ (332) ​ 627 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2021 $ 13,828 $ 6,292 $ 44,255 $ (29,020) $ (7,767) $ 68 ​ ​ 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 $ 42,130 $ (29,849) $ (8,134) $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,310 ​ ​ ​ ​ 1,308 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (441) ​ (3) ​ Defined benefit pension and post-retirement plans adjustment ​ 108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 108 ​ — ​ Cash flow hedging instruments ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47 ​ — ​ Total other comprehensive income (loss), net of tax ​ (289) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ 10,214 $ 6,033 $ 42,356 $ (29,817) $ (8,420) $ 62 ​ ​ Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component ​ Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020, net of tax: ​ $ (1,450) ​ $ (6,098) ​ $ (173) ​ $ (7,721) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (176) ​ — ​ 66 ​ (110) ​ Amounts reclassified out ​ — ​ 159 ​ 9 ​ 168 ​ Total other comprehensive income (loss), before tax ​ (176) ​ 159 ​ 75 ​ 58 ​ Tax effect ​ (47) ​ (40) ​ (17) ​ (104) ​ Total other comprehensive income (loss), net of tax ​ (223) ​ 119 ​ 58 ​ (46) ​ Balance at March 31, 2021, net of tax: ​ $ (1,673) ​ $ (5,979) ​ $ (115) ​ $ (7,767) ​ ​ 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) ​ $ (6,204) ​ $ (31) ​ $ (8,134) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (439) ​ — ​ 77 ​ (362) ​ Amounts reclassified out ​ — ​ 150 ​ (16) ​ 134 ​ Total other comprehensive income (loss), before tax ​ (439) ​ 150 ​ 61 ​ (228) ​ Tax effect ​ (2) ​ (42) ​ (14) ​ (58) ​ Total other comprehensive income (loss), net of tax ​ (441) ​ 108 ​ 47 ​ (286) ​ Balance at March 31, 2020, net of tax: ​ $ (2,340) ​ $ (6,096) ​ $ 16 ​ $ (8,420) ​ ​ 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) 2021 2020 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 ​ ​ 15 See Note 11 ​ Net actuarial loss ​ ​ (173) ​ ​ (163) ​ See Note 11 ​ Curtailments/Settlements ​ (1) ​ (1) See Note 11 ​ Total before tax ​ (159) ​ (150) ​ ​ ​ Tax effect ​ 40 ​ 42 Provision for income taxes ​ Net of tax ​ $ (119) ​ $ (108) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow hedging instruments gains (losses) ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ (7) ​ $ 18 Cost of sales ​ Interest rate contracts ​ (2) ​ (2) Interest expense ​ Total before tax ​ (9) ​ 16 ​ ​ ​ Tax effect ​ 2 ​ (4) Provision for income taxes ​ Net of tax ​ $ (7) ​ $ 12 ​ ​ ​ Total reclassifications for the period, net of tax ​ $ (126) ​ $ (96) ​ ​ ​ ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes.
Income Taxes	NOTE 8. Income Taxes ​ The IRS has completed its field examination of the Company’s U.S. federal income tax returns through 2018, but the years 2005 through 2017 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 where the Company is subject to ongoing tax examinations and governmental assessments, which could be impacted by evolving political environments in those jurisdictions. As of March 31, 2021, no taxing authority 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, 2021 and December 31, 2020 are $1,094 million and $1,145 million, respectively. ​ As of March 31, 2021 and December 31, 2020, the Company had valuation allowances of $143 million and $135 million on its deferred tax assets, respectively. ​ The effective tax rate for the first quarter of 2021 was 16.4 percent, compared to 17.5 percent in the first quarter of 2020, a decrease of 1.1 percentage points. The primary factor that decreased the Company’s effective tax rate was nonrepeating favorable adjustments in 2021 related to impacts of U.S. international tax provisions.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 31, 2021
Marketable Securities.
Marketable 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, 2021 ​ December 31, 2020 Corporate debt securities ​ $ 7 ​ $ 7 ​ Commercial paper ​ ​ 384 ​ ​ 237 ​ Certificates of deposit/time deposits ​ 7 ​ 31 ​ U.S. treasury securities ​ ​ 100 ​ ​ 125 ​ U.S. municipal securities ​ 3 ​ 4 ​ Current marketable securities ​ $ 501 ​ $ 404 ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. municipal securities ​ $ 31 ​ $ 30 ​ Non-current marketable securities ​ $ 31 ​ $ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total marketable securities ​ $ 532 ​ $ 434 ​ ​ At March 31, 2021 and December 31, 2020, gross unrealized, gross realized, and net realized gains and/or losses (pre-tax) were not material. ​ The balances at March 31, 2021 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, 2021 Due in one year or less ​ $ 501 ​ Due after one year through five years ​ 15 ​ Due after five years through ten years ​ 16 ​ Total marketable securities ​ $ 532 ​ ​

Long-Term Debt and Short-Term B

Long-Term Debt and Short-Term Borrowings	3 Months Ended
	Mar. 31, 2021
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 2021, 3M, via a make-whole call offer, redeemed $450 million principal amount of 2.75% notes due 2022. The Company recorded an early debt extinguishment pre-tax charge of approximately $11 million within interest expense. This charge reflected the differential between the carrying value and the amount paid to reacquire the notes and related expenses. ​ 2020 issuances, maturities, and extinguishments of short- and long-term debt are described in Note 5 in 3M’s 2020 Annual Report on Form 10-K. ​ The Company had no commercial paper outstanding at March 31, 2021 and December 31, 2020. ​ 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, 2021. The maturities of long-term debt for the periods subsequent to March 31, 2021 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After ​ ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2026 ​ 2026 ​ Total $ 763 ​ $ 1,256 ​ $ 1,945 ​ $ 1,100 ​ $ 1,791 ​ $ 1,516 ​ $ 9,798 ​ $ 18,169 ​ ​

Pension and Postretirement Bene

Pension and Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2021
Pension and Postretirement Benefit Plans
Pension and Postretirement Benefit Plans	NOTE 11. Pension and Postretirement Benefit Plans ​ As discussed in Note 1, effective in the first quarter of 2021, 3M made a change in accounting principle for net periodic pension and postretirement plan cost. This impacted the expected return on plan assets and the amortization of net unamortized actuarial gains or losses expense components of net periodic benefit cost. This change was applied retrospectively to all periods presented within 3M’s financial statements. ​ 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, 2021 and 2020 follow: ​ Benefit Plan Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ Qualified and Non-qualified ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Postretirement ​ ​ United States International ​ Benefits (Millions) 2021 2020 2021 2020 2021 2020 Net periodic benefit cost (benefit) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 72 ​ $ 66 ​ $ 42 ​ $ 38 ​ $ 12 ​ $ 11 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ $ 90 ​ $ 124 ​ $ 25 ​ $ 31 ​ $ 11 ​ $ 16 ​ Expected return on plan assets ​ (264) ​ (262) ​ (81) ​ (77) ​ (19) ​ (20) ​ Amortization of transition asset ​ — ​ — ​ — ​ 1 ​ — ​ — ​ Amortization of prior service benefit ​ (6) ​ (6) ​ (1) ​ (1) ​ (8) ​ (8) ​ Amortization of net actuarial loss ​ ​ 132 ​ ​ 123 ​ ​ 27 ​ ​ 29 ​ ​ 14 ​ ​ 11 ​ Settlements, curtailments, special termination benefits and other ​ — ​ — ​ — ​ — ​ 1 ​ 1 ​ Total non-operating expense (benefit) ​ ​ (48) ​ ​ (21) ​ ​ (30) ​ ​ (17) ​ ​ (1) ​ ​ — ​ Total net periodic benefit cost (benefit) ​ $ 24 ​ $ 45 ​ $ 12 ​ $ 21 ​ $ 11 ​ $ 11 ​ ​ For the three months ended March 31, 2021 contributions totaling $46 million were made to the Company’s U.S. and international pension plans and $1 million to its postretirement plans. For total year 2021, 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 2021. 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, 2021
Derivatives
Derivatives	​ NOTE 12. Derivatives ​ The Company uses interest rate swaps, currency 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 2020 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: ​ As of March 31, 2021, the Company had a balance of $115 million associated with the after-tax net unrealized loss associated with cash flow hedging instruments recorded in accumulated other comprehensive income. This includes a remaining balance of $106 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, 2021, 3M expects to reclassify approximately $19 million over the next 12 months, $22 million over the remainder of 2021, $2 million in 2022 and $91 million after 2022 of the after-tax net unrealized foreign exchange cash flow hedging losses to earnings (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 from Accumulated ​ ​ Comprehensive Income on Derivative ​ Other Comprehensive Income into Income ​ ​ Three months ended March 31, ​ Three months ended March 31, ​ ​ 2021 ​ 2020 ​ ​ ​ 2021 ​ 2020 (Millions) Amount ​ Amount ​ Location Amount ​ Amount Foreign currency forward/option contracts ​ $ 66 ​ $ 79 ​ Cost of sales ​ $ (7) ​ $ 18 Interest rate contracts ​ — ​ (2) ​ Interest expense ​ (2) ​ (2) Total ​ $ 66 ​ $ 77 ​ ​ ​ $ (9) ​ $ 16 ​ 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 (Millions) ​ Hedged Liabilities ​ of the Hedged Liabilities Location on the Consolidated Balance Sheet March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Short-term borrowings and current portion of long-term debt $ 357 ​ $ 373 $ 4 ​ $ 5 Long-term debt ​ ​ 225 ​ ​ 225 ​ ​ 5 ​ ​ 6 Total ​ $ 582 ​ $ 598 ​ $ 9 ​ $ 11 ​ 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. The remainder of the change in value of such instruments is recorded in earnings. 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, 2021, the total notional amount of foreign exchange forward contracts designated in net investment hedges was approximately 50 million euros, along with a principal amount of long-term debt instruments designated in net investment hedges totaling 3.5 billion euros. The maturity dates of these derivative and nonderivative instruments designated in net investment hedges range from 2021 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 ​ Amount of Gain (Loss) Excluded ​ ​ as Cumulative Translation within ​ from Effectiveness Testing ​ ​ Other Comprehensive Income ​ Recognized in Income ​ ​ ​ Three months ended March 31, ​ Three months ended March 31, ​ ​ 2021 ​ 2020 ​ ​ ​ 2021 ​ 2020 (Millions) Amount ​ Amount ​ Location ​ Amount ​ Amount Foreign currency denominated debt ​ $ 167 ​ $ 15 ​ Cost of sales ​ $ — ​ $ — Foreign currency forward contracts ​ 2 ​ 1 ​ Cost of sales ​ (1) ​ 5 Total ​ $ 169 ​ $ 16 ​ ​ ​ $ (1) ​ $ 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 contracts that are not designated in hedging relationships to offset, in part, the impacts of changes in value of various non-functional currency denominated items including certain intercompany financing balances. 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, ​ ​ ​ ​ 2021 ​ 2020 (Millions) Location Amount ​ Amount Foreign currency forward/option contracts Cost of sales ​ $ — ​ $ 4 Foreign currency forward contracts Interest expense ​ 22 ​ (16) Total ​ ​ ​ $ 22 ​ $ (12) ​ 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, 2021 ​ Three months ended March 31, 2020 (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 ​ $ 4,525 ​ $ 49 ​ $ 4,109 ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The effects of cash flow and fair value 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 ​ $ (7) ​ $ — ​ $ 18 ​ $ — Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ ​ — ​ ​ (2) ​ ​ — ​ ​ (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on fair value hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedged items ​ $ — ​ $ 2 ​ $ — ​ $ (2) Derivatives designated as hedging instruments ​ ​ — ​ ​ (2) ​ ​ — ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,656 Other current assets ​ $ 36 Other current liabilities ​ $ 38 ​ Foreign currency forward/option contracts ​ 685 Other assets ​ 21 Other liabilities ​ 10 ​ Interest rate contracts ​ 403 Other current assets ​ 5 Other current liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 62 ​ ​ ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 3,487 Other current assets ​ $ 22 Other current liabilities ​ $ 15 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 22 ​ ​ ​ $ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 84 ​ ​ ​ $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair December 31, 2020 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,630 Other current assets ​ $ 14 Other current liabilities ​ $ 67 ​ Foreign currency forward/option contracts ​ ​ 669 ​ Other assets ​ ​ 10 ​ Other liabilities ​ ​ 25 ​ Interest rate contracts ​ 403 Other current assets ​ 7 Other current liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 31 ​ ​ ​ $ 92 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 3,166 Other current assets ​ $ 13 Other current liabilities ​ $ 14 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 13 ​ ​ ​ $ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 44 ​ ​ ​ $ 106 ​ ​ 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, 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, 2021, 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, 2021 (Millions) ​ Balance Sheet ​ Derivative Liabilities ​ Received ​ Derivative Assets Derivatives subject to master netting agreements ​ $ 84 ​ $ 34 ​ $ — ​ $ 50 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 84 ​ ​ ​ ​ ​ ​ ​ $ 50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 44 ​ $ 11 ​ $ — ​ $ 33 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 44 ​ ​ ​ ​ ​ ​ ​ $ 33 ​ 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, 2021 (Millions) ​ Balance Sheet ​ Derivative Assets ​ Pledged ​ Liabilities Derivatives subject to master netting agreements ​ $ 63 ​ $ 34 ​ $ — ​ $ 29 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 63 ​ ​ ​ ​ ​ ​ ​ $ 29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 106 ​ $ 11 ​ $ — ​ $ 95 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 106 ​ ​ ​ ​ ​ ​ ​ $ 95 ​ Currency Effects ​ 3M estimates that year-on-year foreign currency transaction effects, including hedging impacts, decreased pre-tax income by approximately $10 million for the three months ended March 31, 2021. 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, 2021
Fair Value Measurements
Fair Value Measurements	NOTE 13. Fair Value Measurements ​ 3M follows ASC 820, Fair Value Measurements and Disclosures, with respect to assets and liabilities that are measured at fair value on a recurring basis and nonrecurring basis. The Company adopted ASU No. 2018-13, Changes to the Disclosure Requirements for Fair Value Measurements, as of January 1, 2020. This ASU primarily amended the disclosures around Level 3 investments, of which the Company had an immaterial amount for all periods presented. ​ In addition to the information above, refer to Note 15 in 3M’s 2020 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, 2021 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 7 ​ $ — ​ $ 7 ​ $ — Commercial paper ​ ​ 384 ​ ​ — ​ ​ 384 ​ ​ — Certificates of deposit/time deposits ​ 7 ​ — ​ 7 ​ — U.S. treasury securities ​ 100 ​ 100 ​ — ​ — U.S. municipal securities ​ 34 ​ — ​ — ​ 34 Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 79 ​ — ​ 79 ​ — Interest rate contracts ​ 5 ​ — ​ 5 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 63 ​ — ​ 63 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) December 31, 2020 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 7 ​ $ — ​ $ 7 ​ $ — ​ Commercial paper ​ ​ 237 ​ ​ — ​ ​ 237 ​ ​ — ​ Certificates of deposit/time deposits ​ 31 ​ — ​ 31 ​ — ​ U.S. treasury securities ​ 125 ​ 125 ​ — ​ — ​ U.S. municipal securities ​ 34 ​ — ​ — ​ 34 ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 37 ​ — ​ 37 ​ — ​ Interest rate contracts ​ 7 ​ — ​ 7 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 106 ​ — ​ 106 ​ — ​ ​ 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) ​ 2021 2020 Beginning balance ​ $ 34 ​ $ 46 Total gains or losses: ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — Included in other comprehensive income ​ — ​ — Purchases and issuances ​ — ​ 10 Sales and settlements ​ — ​ (19) Transfers in and/or out of level 3 ​ — ​ — Ending balance ​ $ 34 ​ $ 37 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 2020 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. There were no material impairments of assets or adjustments to equity securities using the measurement alternative for the three months ended March 31, 2021. 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. ​ Fair Value of Financial Instruments: ​ The Company’s financial instruments include cash and cash equivalents, marketable securities, accounts receivable, certain investments, accounts payable, borrowings, and derivative contracts. The fair values of cash equivalents, accounts receivable, 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, 2021 ​ December 31, 2020 ​ Carrying Fair Carrying Fair (Millions) ​ Value ​ Value ​ Value ​ Value Long-term debt, excluding current portion ​ $ 16,819 ​ $ 18,277 ​ $ 17,989 ​ $ 20,496 ​ ​ 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, 2021 and December 31, 2020 due to the lower interest rates and tighter credit spreads compared to issuance levels.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
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, 2020. ​ 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, 2021, the Company is a named defendant, with multiple co-defendants, in numerous lawsuits in various courts that purport to represent approximately 2,179 individual claimants, compared to approximately 2,075 individual claimants with actions pending December 31, 2020. ​ 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. In addition, during the second half of 2020 and as of March 31, 2021, the Company has experienced an increase in the number of cases filed that allege injuries from exposures to coal mine dust. ​ 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; that petition was denied in November 2020. 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 2021 for respirator mask/asbestos liabilities by $36 million. In the first quarter of 2021, the Company made payments for legal defense costs and settlements of $19 million related to the respirator mask/asbestos litigation. As previously disclosed, 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 then current and expected coal mine dust lawsuits (including the costs to resolve all then current and expected coal mine dust lawsuits in Kentucky and West Virginia at the time of the charge). As of March 31, 2021, the Company had an accrual for respirator mask/asbestos liabilities (excluding Aearo accruals) of $679 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, 2021, 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, 2021, 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, 2021, the Company, through its Aearo subsidiary, had accruals of $27 million for product liabilities and defense costs related to current and future Aearo-related asbestos, silica-related and coal mine dust 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 reduced by $37 million during the second quarter of 2020 after paying Aearo’s share of certain settlements under the informal arrangement described below. The accrual reflects 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. In the European Union, where 3M has manufacturing facilities in countries such as Germany and Belgium, recent regulatory activities have included preliminary work on various restrictions under the Regulation concerning the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), including the restriction of PFAS in certain usages and a broader restriction of PFAS as a class. As of December 2020, PFOA is subject to certain restrictions under EU’s Persistent Organic Pollutants (POPs) Recast Regulation. With respect to the applicability of the newly enacted POPs to certain manufacturing processes that create PFOA as an unintended and unavoidable byproduct designed to be removed through an emulsifier recycling process, Dyneon, a 3M subsidiary that operates a facility at Gendorf, Germany, proactively consulted with the relevant German regulatory authority. In response to the authority’s view that POPs may apply to those processes, Dyneon continues to communicate its position regarding POPs’ applicability, share technical process improvements that are in progress and discuss potential options if an agreement is not reached on the applicability of POPs. ​ In the United States, 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 substantially completed installation of a multilayer cap on the former sludge incorporation areas. Further remediation activities, including certain on-site and off-site investigations and studies, will be conducted in accordance with the July 2020 Interim Consent Order described below in the “Other PFAS-related Matters” section. ​ 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 PFOA and PFOS. 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 April 2021, EPA released an updated toxicity assessment for 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). In June 2020, 3M submitted comments on EPA’s preliminary determinations to regulate PFOA and PFOS under the SDWA. ​ EPA announced in its Spring 2020 Regulatory Agenda, released in June 2020, that it intended to publish a notice of proposed rulemaking to designate PFOA and PFOS as hazardous substances under CERCLA in August 2020. In November 2020, EPA announced it was developing of a new analytical method to test for PFAS in wastewater and other environmental media. In December 2020, EPA released two new guidance documents related to PFAS. First, it issued a Draft Compliance Guide for Imported Articles Containing Surface Coatings Subject to the Long-Chain Perfluoroalkyl Carboxylate and Perfluoroalkyl Sulfonate Chemical Substances Significant New Use Rule. Second, EPA released for public comment interim guidance on destroying and disposing of certain PFAS and PFAS-containing materials. 3M has submitted comments on both guidance documents. ​ In March 2021, EPA published its intention to initiate a process to develop a national primary drinking water regulation for PFOA and PFOS; the process will include further analyses, scientific review and opportunities for public comment. EPA also announced in January 2021 that it will issue an advance notice of proposed rulemaking (ANPR) to solicit public comment on whether the agency should take additional regulatory steps to address PFAS contamination, including designating PFOA and PFOS and other PFAS as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and seeking comment on whether PFOA and PFOS and other PFAS should be subject to regulation as hazardous waste under the Resource Conservation and Recovery Act (RCRA). EPA indicated it will also issue an ANPR to collect information regarding manufacturers of PFAS and the presence and treatment of PFAS in discharges from these facilities. In January 2021, the new federal Administration withdrew this EPA ANPR announcement. EPA also separately issued an ANPR in March 2021 to collect information regarding manufacturers of PFAS and the presence and treatment of PFAS in discharges from these facilities. ​ 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. Those states include the following: ​ Vermont finalized drinking water standards for a combination of PFOA, PFOS and three other PFAS in March 2020. New Jersey finalized drinking water standards and designated PFOA and PFOS as hazardous substances in June 2020. New York established drinking water standards for PFOA and PFOS in July 2020. New Hampshire established drinking water standards by legislation for certain PFAS, including PFOS and PFOA, in July 2020. Michigan implemented final drinking water standards for certain PFAS, including PFOS and PFOA, in August 2020. Massachusetts published final regulations establishing a drinking water standard relating to six combined PFAS in October 2020. Some other states have also been evaluating or have taken actions relating to PFOA, PFOS and other PFAS in products such as food packaging, carpets and other products. For example, in March 2021, California proposed listing PFOA and PFOS as carcinogens under its Proposition 65 law. ​ In October 2020, 3M and several other parties filed notices of appeal in the appellate division of the Superior Court of New Jersey to challenge the validity of the New Jersey PFOS and PFOA regulations. In January 2021, the appellate division of the court denied the group’s motion to stay the regulations, and the parties are proceeding to litigation on the merits. In March 2021, 3M and several other parties filed a lawsuit against the New York State Department of Health, urging that drinking water levels set by the agency for PFOS and PFOA be vacated. ​ The Company cannot predict what additional regulatory actions in the United States, Europe and elsewhere arising from the foregoing or other proceedings and activities, if any, may be taken regarding such compounds or the consequences of any such actions to the Company. ​ Litigation Related to Historical PFAS Manufacturing Opera

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
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, stock appreciation rights, restricted stock, restricted stock units, other stock awards, and performance units and performance shares. As of March 31, 2021, the remaining shares available for grant under the LTIP Program are 10.7 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, 2021 and 2020. ​ Stock-Based Compensation Expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ (Millions) 2021 2020 Cost of sales ​ $ 22 ​ $ 22 ​ ​ Selling, general and administrative expenses ​ 84 ​ 73 ​ ​ Research, development and related expenses ​ 25 ​ 25 ​ ​ Stock-based compensation expenses ​ $ 131 ​ $ 120 ​ ​ Income tax benefits ​ ​ (51) ​ ​ (39) ​ ​ Stock-based compensation expenses (benefits), net of tax ​ $ 80 ​ $ 81 ​ ​ ​ Stock Option Program ​ The following table summarizes stock option activity during the three months ended March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ Weighted Remaining Aggregate ​ ​ Number of ​ Average ​ Contractual ​ Intrinsic Value ​ (Options in thousands) Options ​ Exercise Price ​ Life (months) ​ (millions) ​ Under option — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 35,401 ​ $ 156.23 ​ ​ ​ ​ Granted 3,612 ​ 175.04 ​ ​ ​ Exercised (2,323) ​ 104.16 ​ ​ ​ Forfeited (104) ​ 174.71 ​ ​ ​ March 31 36,586 ​ $ 161.34 68 ​ $ 1,299 Options exercisable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31 28,819 ​ $ 158.58 57 ​ $ 1,126 ​ 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, 2021, there was $93 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 $180 million and $98 million during the three months ended March 31, 2021 and 2020, respectively. Cash received from options exercised was $240 million and $100 million for the three months ended March 31, 2021 and 2020, respectively. The Company’s actual tax benefits realized for the tax deductions related to the exercise of employee stock options were $38 million and $20 million for the three months ended March 31, 2021 and 2020, respectively. ​ For the primary 2021 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 ​ ​ 2021 ​ Exercise price ​ $ 175.04 ​ Risk-free interest rate ​ 0.8 % Dividend yield ​ 2.8 % Expected volatility ​ 22.6 % Expected life (months) ​ 83 ​ Black-Scholes fair value ​ $ 25.33 ​ ​ Expected volatility is a statistical measure of the amount by which a stock price is expected to fluctuate during a period. For the 2021 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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Nonvested balance — ​ ​ ​ ​ ​ ​ As of January 1 1,722 ​ $ 189.78 ​ Granted ​ 721 ​ 175.09 ​ Vested (433) ​ 232.62 ​ Forfeited (33) ​ 173.54 ​ As of March 31 1,977 ​ $ 175.31 ​ ​ As of March 31, 2021, there was $141 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, 2021 and 2020 was $78 million and $88 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 $14 million and $16 million for the three months ended March 31, 2021 and 2020, 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 2021 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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ Average ​ Number of ​ Grant Date (Shares in thousands) Shares ​ Fair Value Undistributed balance — ​ ​ ​ ​ ​ As of January 1 423 ​ $ 188.61 ​ Granted 163 ​ 176.41 ​ Distributed (115) ​ 228.80 ​ Performance change 17 ​ 178.43 ​ Forfeited (4) ​ 172.92 ​ As of March 31 484 ​ $ 174.75 ​ ​ As of March 31, 2021, 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 21 months. The total fair value of performance shares that were distributed were $22 million and $35 million for the three months ended March 31, 2021 and 2020, respectively. The Company’s actual tax benefits realized for the tax deductions related to the distribution of performance shares were $4 million and $7 million for the three months ended March 31, 2021 and 2020, respectively.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2021
Business Segments
Business Segments	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. ​ 3M discloses business segment operating income as its measure of segment profit/loss, reconciled to both total 3M operating income and income before taxes. Business segment operating income includes dual credit for certain related operating income (as described below in “Elimination of Dual Credit”). Business segment operating income excludes certain expenses and income that are not allocated to business segments (as described below in “Corporate and Unallocated”). Additionally, the following special items are excluded from business segment operating income and, instead, are included within Corporate and Unallocated: significant litigation-related charges/benefits, gain/loss on sale of businesses (see Note 3), and divestiture-related restructuring actions (see Note 5). ​ Effective in the first quarter of 2021, the measure of segment operating performance used by 3M’s CODM changed and, as a result, 3M’s disclosed measure of segment profit/loss (business segment operating income) was updated. The change to business segment operating income aligns with the update to how the CODM assesses performance and allocates resources for the Company’s business segments. The change included the following: ​ Changes in cost attribution ​ The extent of allocation and method of attribution of certain net costs were updated to result in fewer items remaining in Corporate and Unallocated and, instead, including them in 3M’s business segments’ operating performance. See the updated description of Corporate and Unallocated below. Previously, a larger portion of ongoing corporate staff costs and costs associated with centrally managed material resource centers was retained in Corporate and Unallocated. In addition, portions of pension costs and costs associated with certain centrally managed but ongoing business-related legal matters, along with certain insurance-related costs, were retained in Corporate and Unallocated. ​ 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 impacted the amount of dual credit certain business segments receive as a result of sales district attribution. ​ Also effective in the first quarter of 2021, within 3M’s Consumer business segment, certain safety products formerly within the Construction and Home Improvement Division and the Stationery and Office Division were moved to the newly-named Consumer Health and Safety Division (formerly the Consumer Health Care Division). ​ The financial information presented herein reflects the impact of the preceding changes for all periods presented. ​ Business Segment Information ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended (Millions) ​ March 31, Net Sales 2021 2020 Safety and Industrial $ 3,327 $ 2,927 Transportation and Electronics ​ 2,531 ​ 2,239 Health Care ​ 2,248 ​ 2,104 Consumer ​ 1,373 ​ 1,250 Corporate and Unallocated ​ (2) ​ — Elimination of Dual Credit ​ (626) ​ (445) Total Company $ 8,851 $ 8,075 ​ ​ ​ ​ ​ ​ ​ Operating Performance ​ ​ ​ ​ ​ ​ Safety and Industrial $ 811 $ 694 Transportation and Electronics ​ 591 ​ 464 Health Care ​ 509 ​ 452 Consumer ​ 289 ​ 265 Elimination of Dual Credit ​ (159) ​ (113) Total business segment operating income $ 2,041 $ 1,762 Corporate and Unallocated ​ ​ ​ ​ ​ ​ Special items: ​ ​ ​ ​ ​ ​ Significant litigation-related (charges)/benefits ​ ​ — ​ ​ (17) Gain/(loss) on sale of businesses ​ ​ — ​ ​ 2 Other corporate expense - net ​ (47) ​ (84) Total Corporate and Unallocated ​ ​ (47) ​ ​ (99) Total Company operating income ​ $ 1,994 ​ $ 1,663 ​ ​ ​ ​ ​ ​ ​ Other expense/(income), net ​ $ 49 ​ $ 75 Income before income taxes ​ $ 1,945 ​ $ 1,588 ​ Corporate and Unallocated ​ Corporate and Unallocated operating income includes “special items” and “other corporate expense-net”. Special items include significant litigation-related charges/benefits, gain/loss on sale of businesses, and divestiture-related restructuring costs. Other corporate expense-net includes items such as net costs related to limited unallocated corporate staff and centrally managed material resource centers of expertise costs, certain litigation and environmental expenses largely related to legacy products/businesses not allocated to business segments, corporate philanthropic activity, and other net costs that 3M may choose not to allocate directly to its business segments. Other corporate expense-net also includes 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 and the acquirer of the former Drug Delivery business following its 2020 divestiture. Items classified as revenue from this activity are included in Corporate and Unallocated net sales. Because Corporate and Unallocated includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis. ​ Elimination of Dual Credit ​ 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, 2021
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. ​ Effective in the first quarter of 2021, 3M made the following changes. Information provided herein reflects the impact of these changes for all periods presented. ● Change in accounting principle for net periodic pension and postretirement plan cost. See below for additional information. ● Change in measure of segment operating performance used by 3M’s chief operating decision maker—impacting 3M’s disclosed measure of segment profit/loss (business segment operating income). See additional information in Note 16. ● Change in alignment of certain products within 3M’s Consumer business segment—creating the Consumer Health and Safety Division. See additional information in Note 16. ​
Change in Accounting Principle for Determining Net Periodic Pension and Postretirement Plan Cost	Change in Accounting Principle for Determining Net Periodic Pension and Postretirement Plan Cost ​ In the first quarter of 2021, 3M changed the method it uses to calculate the market-related value of fixed income securities included in its pension and other postretirement plan assets. The market-related value is used to determine the expected return on plan assets and the amortization of net unamortized actuarial gains or losses expense components of net periodic benefit cost. The Company previously used the calculated value approach for all plan assets, deferring over three years the impact on these amounts of asset gains or losses that differed from expected returns. 3M changed to the fair value approach for calculating market-related value for the fixed income class of plan assets, which does not involve deferring the impact of excess plan asset gains or losses in the determination of these two components of net periodic benefit cost. 3M considers the use of the fair value approach preferrable to the calculated value approach as it results in a more current reflection of impacts of changes in value of these plan assets in the determination of net periodic benefit cost. Additionally, given the plans’ liability-driven investment strategy whereby the changes in value of the fixed income plan assets should offset changes in the value of the plans’ liabilities, this approach more closely aligns the expected return on plan assets expense component with the value reflected in the plans’ funded status. This change was applied retrospectively to all periods presented within 3M’s financial statements. The change did not impact consolidated operating income or net cash provided by operating activities but did impact the previously reported portion of pension and postretirement net periodic benefit cost (benefit) that was included within non-operating other expense (income) along with related consolidated income items such as net income and earnings per share. Other impacts included related changes to previously reported consolidated other comprehensive income, retained earnings, accumulated other comprehensive income (loss), and associated line items within the determination of net cash provided by operating activities. For classes of plan assets other than fixed income investments, the Company continues to use the calculated value approach to determine their market-related value. ​ The adoption of this change impacted previously reported amounts included herein as indicated in the tables below. ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions, except per share amounts) ​ Method ​ As Adjusted ​ Other expense (income), net ​ $ 96 ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ $ 1,567 ​ $ 1,588 ​ Provision for income taxes ​ ​ 273 ​ ​ 278 ​ Income of consolidated group ​ $ 1,294 ​ $ 1,310 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Net income attributable to 3M ​ $ 1,292 ​ $ 1,308 ​ Earnings per share attributable to 3M common shareholders — basic ​ $ 2.24 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders — diluted ​ $ 2.22 ​ $ 2.25 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Comprehensive Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ Defined benefit pension and postretirement plans adjustment ​ $ 119 ​ $ 108 ​ Total other comprehensive income (loss), net of tax ​ $ (278) ​ $ (289) ​ Comprehensive income (loss) including noncontrolling interest ​ $ 1,016 ​ $ 1,021 ​ Comprehensive income (loss) attributable to 3M ​ $ 1,017 ​ $ 1,022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Balance Sheet ​ ​ As of December 31, 2020 ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted Retained Earnings ​ $ 43,761 ​ $ 43,821 Accumulated other comprehensive income (loss) ​ $ (7,661) ​ $ (7,721) ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Cash Flows ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Company pension and postretirement expense ​ $ 98 ​ $ 77 ​ Other — net ​ $ (457) ​ $ (452) ​ ​ The cumulative adjustment as of January 1, 2020, the beginning of the earliest period presented in the consolidated financial statements included herein, was a $5 million reduction to each of retained earnings and accumulated
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 (8.7 million and 19.2 million average options for the three months ended March 31, 2021 and 2020, 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) 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,624 ​ $ 1,308 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 580.5 ​ 576.8 ​ Dilution associated with the Company’s stock-based compensation plans ​ 5.8 ​ 4.7 ​ Denominator for weighted average 3M common shares outstanding – ​ 586.3 ​ 581.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.80 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.77 ​ $ 2.25 ​
New Accounting Pronouncements	New Accounting Pronouncements ​ Refer to Note 1 in 3M’s 2020 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. 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 Adoption of this ASU did not have a material impact on 3M’s 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 Adoption of this ASU did not have a material impact on 3M’s consolidated results of operations and financial condition. ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Scope Provides temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates, such as SOFR. Effective upon ASUs’ issuances in 2020 & 2021 With the beginning of the phase out of LIBOR at the end of 2021, 3M continues to evaluate commercial contracts that may utilize LIBOR and will continue to monitor developments during the LIBOR transition period. ​ ​ ​ ​

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Significant Accounting Policies
Impact on previously reported values after correction	​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions, except per share amounts) ​ Method ​ As Adjusted ​ Other expense (income), net ​ $ 96 ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ $ 1,567 ​ $ 1,588 ​ Provision for income taxes ​ ​ 273 ​ ​ 278 ​ Income of consolidated group ​ $ 1,294 ​ $ 1,310 ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Net income attributable to 3M ​ $ 1,292 ​ $ 1,308 ​ Earnings per share attributable to 3M common shareholders — basic ​ $ 2.24 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders — diluted ​ $ 2.22 ​ $ 2.25 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Comprehensive Income ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ Defined benefit pension and postretirement plans adjustment ​ $ 119 ​ $ 108 ​ Total other comprehensive income (loss), net of tax ​ $ (278) ​ $ (289) ​ Comprehensive income (loss) including noncontrolling interest ​ $ 1,016 ​ $ 1,021 ​ Comprehensive income (loss) attributable to 3M ​ $ 1,017 ​ $ 1,022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Balance Sheet ​ ​ As of December 31, 2020 ​ ​ Under Prior ​ ​ ​ (Millions) ​ Method ​ As Adjusted Retained Earnings ​ $ 43,761 ​ $ 43,821 Accumulated other comprehensive income (loss) ​ $ (7,661) ​ $ (7,721) ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated Statement of Cash Flows ​ ​ Three months ended ​ ​ ​ March 31, 2020 ​ ​ ​ Under Prior ​ ​ ​ ​ (Millions) ​ Method ​ As Adjusted ​ Net income including noncontrolling interest ​ $ 1,294 ​ $ 1,310 ​ Company pension and postretirement expense ​ $ 98 ​ $ 77 ​ Other — net ​ $ (457) ​ $ (452) ​
Earnings Per Share Computations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ (Amounts in millions, except per share amounts) 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ Net income attributable to 3M ​ $ 1,624 ​ $ 1,308 ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Denominator for weighted average 3M common shares outstanding – ​ 580.5 ​ 576.8 ​ Dilution associated with the Company’s stock-based compensation plans ​ 5.8 ​ 4.7 ​ Denominator for weighted average 3M common shares outstanding – ​ 586.3 ​ 581.5 ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.80 ​ $ 2.27 ​ Earnings per share attributable to 3M common shareholders – ​ $ 2.77 ​ $ 2.25 ​

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue
Schedule of disaggregated revenue recognized during the period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ Net Sales (Millions) ​ 2021 2020 ​ Abrasives ​ $ 352 ​ $ 330 ​ Automotive Aftermarket ​ ​ 312 ​ ​ 284 ​ Closure and Masking Systems ​ ​ 243 ​ ​ 268 ​ Electrical Markets ​ ​ 307 ​ ​ 288 ​ Industrial Adhesives and Tapes ​ ​ 768 ​ ​ 671 ​ Personal Safety ​ ​ 1,237 ​ ​ 989 ​ Roofing Granules ​ ​ 108 ​ ​ 95 ​ Other Safety and Industrial ​ ​ — ​ ​ 2 ​ Total Safety and Industrial Business Segment ​ $ 3,327 ​ $ 2,927 ​ ​ ​ ​ ​ ​ ​ ​ ​ Advanced Materials ​ $ 316 ​ $ 288 ​ Automotive and Aerospace ​ ​ 516 ​ ​ 448 ​ Commercial Solutions ​ ​ 438 ​ ​ 430 ​ Electronics ​ ​ 1,042 ​ ​ 863 ​ Transportation Safety ​ ​ 218 ​ ​ 211 ​ Other Transportation and Electronics ​ ​ 1 ​ ​ (1) ​ Total Transportation and Electronics Business Segment ​ $ 2,531 ​ $ 2,239 ​ ​ ​ ​ ​ ​ ​ ​ ​ Drug Delivery ​ $ — ​ $ 105 ​ Food Safety ​ ​ 88 ​ ​ 91 ​ Health Information Systems ​ ​ 289 ​ ​ 277 ​ Medical Solutions ​ ​ 1,267 ​ ​ 1,153 ​ Oral Care ​ ​ 363 ​ ​ 277 ​ Separation and Purification Sciences ​ ​ 241 ​ ​ 202 ​ Other Health Care ​ ​ — ​ ​ (1) ​ Total Health Care Business Group ​ $ 2,248 ​ $ 2,104 ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Health and Safety ​ $ 150 ​ $ 172 ​ Home Care ​ ​ 279 ​ ​ 271 ​ Home Improvement ​ ​ 623 ​ ​ 503 ​ Stationery and Office ​ ​ 285 ​ ​ 268 ​ Other Consumer ​ ​ 36 ​ ​ 36 ​ Total Consumer Business Group ​ $ 1,373 ​ $ 1,250 ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate and Unallocated ​ $ (2) ​ $ — ​ Elimination of Dual Credit ​ ​ (626) ​ ​ (445) ​ Total Company ​ $ 8,851 ​ $ 8,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2021 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,697 ​ $ 823 ​ $ 807 ​ $ — ​ $ 3,327 ​ Transportation and Electronics ​ 650 ​ 1,490 ​ 391 ​ — ​ 2,531 ​ Health Care ​ ​ 1,311 ​ ​ 408 ​ ​ 529 ​ ​ — ​ ​ 2,248 ​ Consumer ​ 949 ​ 278 ​ 146 ​ — ​ 1,373 ​ Corporate and Unallocated ​ (1) ​ — ​ — ​ (1) ​ (2) ​ Elimination of Dual Credit ​ (278) ​ (230) ​ (118) ​ — ​ (626) ​ Total Company ​ $ 4,328 ​ $ 2,769 ​ $ 1,755 ​ $ (1) ​ $ 8,851 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ Net Sales (Millions) Americas ​ Asia Pacific Europe, Middle East and Africa Other Unallocated Worldwide ​ Safety and Industrial ​ $ 1,517 ​ $ 712 ​ $ 698 ​ $ — ​ $ 2,927 ​ Transportation and Electronics ​ 675 ​ 1,202 ​ 362 ​ — ​ 2,239 ​ Health Care ​ ​ 1,281 ​ ​ 356 ​ ​ 467 ​ ​ — ​ ​ 2,104 ​ Consumer ​ 874 ​ 250 ​ 127 ​ (1) ​ 1,250 ​ Corporate and Unallocated ​ 1 ​ — ​ — ​ (1) ​ — ​ Elimination of Dual Credit ​ (206) ​ (175) ​ (64) ​ — ​ (445) ​ Total Company ​ $ 4,142 ​ $ 2,345 ​ $ 1,590 ​ $ (2) ​ $ 8,075 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets
Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ Safety and Industrial ​ Transportation and Electronics ​ Health Care ​ Consumer ​ Total Company ​ Balance as of December 31, 2020 ​ $ 4,687 ​ $ 1,858 ​ $ 6,992 ​ $ 265 ​ $ 13,802 ​ Translation and other ​ ​ (29) ​ ​ (14) ​ ​ (98) ​ ​ (7) ​ ​ (148) ​ Balance as of March 31, 2021 ​ $ 4,658 ​ $ 1,844 ​ $ 6,894 ​ $ 258 ​ $ 13,654 ​
Acquired Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, (Millions) 2021 2020 Customer related intangible assets ​ $ 4,266 ​ $ 4,280 ​ Patents ​ 517 ​ 537 ​ Other technology-based intangible assets ​ 2,113 ​ 2,114 ​ Definite-lived tradenames ​ 1,172 ​ 1,178 ​ Other amortizable intangible assets ​ 104 ​ 104 ​ Total gross carrying amount ​ $ 8,172 ​ $ 8,213 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization — customer related ​ (1,473) ​ (1,422) ​ Accumulated amortization — patents ​ (495) ​ (512) ​ Accumulated amortization — other technology-based ​ (687) ​ (638) ​ Accumulated amortization — definite-lived tradenames ​ (397) ​ (385) ​ Accumulated amortization — other ​ (78) ​ (79) ​ Total accumulated amortization ​ $ (3,130) ​ $ (3,036) ​ ​ ​ ​ ​ ​ ​ ​ ​ Total finite-lived intangible assets — net ​ $ 5,042 ​ $ 5,177 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-amortizable intangible assets (primarily tradenames) ​ 655 ​ 658 ​ Total intangible assets — net ​ $ 5,697 ​ $ 5,835 ​
Schedule of amortization expense for acquired intangible assets	Amortization expense for the three months ended March 31, 2021 and 2020 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) 2021 2020 Amortization expense ​ $ 133 ​ $ 134
Schedule of expected amortization expense for acquired amortizable intangible assets	Expected amortization expense for acquired amortizable intangible assets recorded as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After (Millions) ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2026 ​ 2026 Amortization expense ​ $ 395 ​ $ 514 ​ $ 488 ​ $ 458 ​ $ 428 ​ $ 421 ​ $ 2,338 ​

Restructuring Actions and Exi_2

Restructuring Actions and Exit Activities (Tables)	3 Months Ended
	Mar. 31, 2021
2021 Restructuring Actions | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Schedule of restructuring charges by income statement line	​ ​ ​ ​ ​ (Millions) ​ First Quarter 2021 Cost of sales ​ $ 1 Selling, general and administrative expenses ​ 9 Research, development and related expenses ​ 4 Total operating income impact ​ $ 14
Components of restructuring by business segment	​ ​ ​ ​ ​ ​ ​ First Quarter 2021 (Millions) Employee-Related Safety and Industrial ​ $ 2 Transportation and Electronics ​ ​ 3 Health Care ​ ​ 1 Consumer ​ ​ 1 Corporate and Unallocated ​ 7 Total Operating Expense ​ $ 14
Accrued restructuring action balances	​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2020 ​ $ 101 ​ Incremental expense incurred in the first quarter of 2021 ​ $ 14 ​ Cash payments ​ (14) ​ Accrued restructuring action balances as of March 31, 2021 ​ $ 101 ​
2020 Restructuring Actions | Drug delivery business
Restructuring Cost and Reserve
Accrued restructuring action balances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) Employee-Related Asset-Related and Other Total Accrued divestiture-related restructuring action balances as of December 31, 2020 ​ $ 15 ​ $ 9 ​ $ 24 ​ Cash payments ​ ​ (1) ​ ​ — ​ ​ (1) ​ Adjustments ​ ​ (1) ​ ​ — ​ ​ (1) ​ Accrued divestiture-related restructuring action balances as of March 31, 2021 ​ $ 13 ​ $ 9 ​ $ 22 ​
2020 Restructuring Actions | Other Restructuring
Restructuring Cost and Reserve
Accrued restructuring action balances	​ ​ ​ ​ ​ ​ (Millions) Employee-Related Accrued restructuring action balances as of December 31, 2020 ​ $ 24 ​ Cash payments ​ ​ (4) ​ Adjustments ​ ​ (9) ​ Accrued restructuring action balances as of March 31, 2021 ​ $ 11 ​

Supplemental Income Statement_2

Supplemental Income Statement Information (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Income Statement Information
Schedule of other expense (income)	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, (Millions) ​ 2021 2020 Interest expense ​ $ 132 ​ $ 123 Interest income ​ (4) ​ (10) Pension and postretirement net periodic benefit cost (benefit) ​ ​ (79) ​ ​ (38) Total ​ $ 49 ​ $ 75

Supplemental Equity and Compr_2

Supplemental Equity and Comprehensive Income Information (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Equity and Comprehensive Income Information
Consolidated Statement of Changes in Equity	Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020 $ 12,931 $ 6,171 $ 43,821 $ (29,404) $ (7,721) $ 64 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,627 ​ ​ ​ ​ 1,624 ​ ​ ​ ​ ​ ​ ​ 3 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (222) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (223) ​ 1 ​ Defined benefit pension and post-retirement plans adjustment ​ 119 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 119 ​ — ​ Cash flow hedging instruments ​ 58 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 58 ​ — ​ Total other comprehensive income (loss), net of tax ​ (45) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividends declared ​ (858) ​ ​ ​ ​ (858) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock-based compensation ​ 121 ​ 121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reacquired stock ​ (243) ​ ​ ​ ​ ​ ​ ​ (243) ​ ​ ​ ​ ​ ​ ​ Issuances pursuant to stock option and benefit plans ​ 295 ​ ​ ​ ​ (332) ​ 627 ​ ​ ​ ​ ​ ​ ​ Balance at March 31, 2021 $ 13,828 $ 6,292 $ 44,255 $ (29,020) $ (7,767) $ 68 ​ ​ 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 $ 42,130 $ (29,849) $ (8,134) $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ 1,310 ​ ​ ​ ​ 1,308 ​ ​ ​ ​ ​ ​ ​ 2 ​ Other comprehensive income (loss), net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative translation adjustment ​ (444) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (441) ​ (3) ​ Defined benefit pension and post-retirement plans adjustment ​ 108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 108 ​ — ​ Cash flow hedging instruments ​ 47 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47 ​ — ​ Total other comprehensive income (loss), net of tax ​ (289) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 $ 10,214 $ 6,033 $ 42,356 $ (29,817) $ (8,420) $ 62 ​
Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M	Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2020, net of tax: ​ $ (1,450) ​ $ (6,098) ​ $ (173) ​ $ (7,721) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (176) ​ — ​ 66 ​ (110) ​ Amounts reclassified out ​ — ​ 159 ​ 9 ​ 168 ​ Total other comprehensive income (loss), before tax ​ (176) ​ 159 ​ 75 ​ 58 ​ Tax effect ​ (47) ​ (40) ​ (17) ​ (104) ​ Total other comprehensive income (loss), net of tax ​ (223) ​ 119 ​ 58 ​ (46) ​ Balance at March 31, 2021, net of tax: ​ $ (1,673) ​ $ (5,979) ​ $ (115) ​ $ (7,767) ​ ​ 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) ​ $ (6,204) ​ $ (31) ​ $ (8,134) ​ Other comprehensive income (loss), before tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts before reclassifications ​ (439) ​ — ​ 77 ​ (362) ​ Amounts reclassified out ​ — ​ 150 ​ (16) ​ 134 ​ Total other comprehensive income (loss), before tax ​ (439) ​ 150 ​ 61 ​ (228) ​ Tax effect ​ (2) ​ (42) ​ (14) ​ (58) ​ Total other comprehensive income (loss), net of tax ​ (441) ​ 108 ​ 47 ​ (286) ​ Balance at March 31, 2020, net of tax: ​ $ (2,340) ​ $ (6,096) ​ $ 16 ​ $ (8,420) ​
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) 2021 2020 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 ​ ​ 15 See Note 11 ​ Net actuarial loss ​ ​ (173) ​ ​ (163) ​ See Note 11 ​ Curtailments/Settlements ​ (1) ​ (1) See Note 11 ​ Total before tax ​ (159) ​ (150) ​ ​ ​ Tax effect ​ 40 ​ 42 Provision for income taxes ​ Net of tax ​ $ (119) ​ $ (108) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flow hedging instruments gains (losses) ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ (7) ​ $ 18 Cost of sales ​ Interest rate contracts ​ (2) ​ (2) Interest expense ​ Total before tax ​ (9) ​ 16 ​ ​ ​ Tax effect ​ 2 ​ (4) Provision for income taxes ​ Net of tax ​ $ (7) ​ $ 12 ​ ​ ​ Total reclassifications for the period, net of tax ​ $ (126) ​ $ (96) ​ ​ ​

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Marketable Securities.
Schedule of marketable securities	​ ​ ​ ​ ​ ​ ​ ​ ​ (Millions) ​ March 31, 2021 ​ December 31, 2020 Corporate debt securities ​ $ 7 ​ $ 7 ​ Commercial paper ​ ​ 384 ​ ​ 237 ​ Certificates of deposit/time deposits ​ 7 ​ 31 ​ U.S. treasury securities ​ ​ 100 ​ ​ 125 ​ U.S. municipal securities ​ 3 ​ 4 ​ Current marketable securities ​ $ 501 ​ $ 404 ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. municipal securities ​ $ 31 ​ $ 30 ​ Non-current marketable securities ​ $ 31 ​ $ 30 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total marketable securities ​ $ 532 ​ $ 434 ​ ​
Schedule of marketable securities by contractual maturity	​ ​ ​ ​ ​ ​ (Millions) March 31, 2021 Due in one year or less ​ $ 501 ​ Due after one year through five years ​ 15 ​ Due after five years through ten years ​ 16 ​ Total marketable securities ​ $ 532 ​

Long-Term Debt and Short-Term_2

Long-Term Debt and Short-Term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Long-Term Debt and Short-Term Borrowings
Schedule of Maturities of Long-Term Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remainder of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ After ​ ​ 2021 ​ 2022 ​ 2023 ​ 2024 ​ 2025 ​ 2026 ​ 2026 ​ Total $ 763 ​ $ 1,256 ​ $ 1,945 ​ $ 1,100 ​ $ 1,791 ​ $ 1,516 ​ $ 9,798 ​ $ 18,169 ​

Pension and Postretirement Be_2

Pension and Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2021
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) 2021 2020 2021 2020 2021 2020 Net periodic benefit cost (benefit) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 72 ​ $ 66 ​ $ 42 ​ $ 38 ​ $ 12 ​ $ 11 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ $ 90 ​ $ 124 ​ $ 25 ​ $ 31 ​ $ 11 ​ $ 16 ​ Expected return on plan assets ​ (264) ​ (262) ​ (81) ​ (77) ​ (19) ​ (20) ​ Amortization of transition asset ​ — ​ — ​ — ​ 1 ​ — ​ — ​ Amortization of prior service benefit ​ (6) ​ (6) ​ (1) ​ (1) ​ (8) ​ (8) ​ Amortization of net actuarial loss ​ ​ 132 ​ ​ 123 ​ ​ 27 ​ ​ 29 ​ ​ 14 ​ ​ 11 ​ Settlements, curtailments, special termination benefits and other ​ — ​ — ​ — ​ — ​ 1 ​ 1 ​ Total non-operating expense (benefit) ​ ​ (48) ​ ​ (21) ​ ​ (30) ​ ​ (17) ​ ​ (1) ​ ​ — ​ Total net periodic benefit cost (benefit) ​ $ 24 ​ $ 45 ​ $ 12 ​ $ 21 ​ $ 11 ​ $ 11 ​ ​

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2021
Derivatives
Gains (losses) on derivative instruments dedesignated as hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) Recognized in Other ​ Pretax Gain (Loss) Reclassified from Accumulated ​ ​ Comprehensive Income on Derivative ​ Other Comprehensive Income into Income ​ ​ Three months ended March 31, ​ Three months ended March 31, ​ ​ 2021 ​ 2020 ​ ​ ​ 2021 ​ 2020 (Millions) Amount ​ Amount ​ Location Amount ​ Amount Foreign currency forward/option contracts ​ $ 66 ​ $ 79 ​ Cost of sales ​ $ (7) ​ $ 18 Interest rate contracts ​ — ​ (2) ​ Interest expense ​ (2) ​ (2) Total ​ $ 66 ​ $ 77 ​ ​ ​ $ (9) ​ $ 16
Gain (loss) on derivative instruments designated as fair value hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Amount of Fair Value Hedging ​ ​ Carrying Value of the ​ Adjustment Included in the Carrying Value (Millions) ​ Hedged Liabilities ​ of the Hedged Liabilities Location on the Consolidated Balance Sheet March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Short-term borrowings and current portion of long-term debt $ 357 ​ $ 373 $ 4 ​ $ 5 Long-term debt ​ ​ 225 ​ ​ 225 ​ ​ 5 ​ ​ 6 Total ​ $ 582 ​ $ 598 ​ $ 9 ​ $ 11
Gain (loss) on derivative and non-derivative instruments designated as net investment hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pretax Gain (Loss) Recognized ​ Amount of Gain (Loss) Excluded ​ ​ as Cumulative Translation within ​ from Effectiveness Testing ​ ​ Other Comprehensive Income ​ Recognized in Income ​ ​ ​ Three months ended March 31, ​ Three months ended March 31, ​ ​ 2021 ​ 2020 ​ ​ ​ 2021 ​ 2020 (Millions) Amount ​ Amount ​ Location ​ Amount ​ Amount Foreign currency denominated debt ​ $ 167 ​ $ 15 ​ Cost of sales ​ $ — ​ $ — Foreign currency forward contracts ​ 2 ​ 1 ​ Cost of sales ​ (1) ​ 5 Total ​ $ 169 ​ $ 16 ​ ​ ​ $ (1) ​ $ 5
Gain (loss) on derivative instruments not designated as hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) on Derivative Recognized in Income ​ ​ Three months ended March 31, ​ ​ ​ ​ 2021 ​ 2020 (Millions) Location Amount ​ Amount Foreign currency forward/option contracts Cost of sales ​ $ — ​ $ 4 Foreign currency forward contracts Interest expense ​ 22 ​ (16) Total ​ ​ ​ $ 22 ​ $ (12)
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, 2021 ​ Three months ended March 31, 2020 (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 ​ $ 4,525 ​ $ 49 ​ $ 4,109 ​ $ 75 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The effects of cash flow and fair value 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 ​ $ (7) ​ $ — ​ $ 18 ​ $ — Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income ​ ​ — ​ ​ (2) ​ ​ — ​ ​ (2) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain or (loss) on fair value hedging relationships: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate contracts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedged items ​ $ — ​ $ 2 ​ $ — ​ $ (2) Derivatives designated as hedging instruments ​ ​ — ​ ​ (2) ​ ​ — ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Location and Fair Value of Derivative Instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair March 31, 2021 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,656 Other current assets ​ $ 36 Other current liabilities ​ $ 38 ​ Foreign currency forward/option contracts ​ 685 Other assets ​ 21 Other liabilities ​ 10 ​ Interest rate contracts ​ 403 Other current assets ​ 5 Other current liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 62 ​ ​ ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 3,487 Other current assets ​ $ 22 Other current liabilities ​ $ 15 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 22 ​ ​ ​ $ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 84 ​ ​ ​ $ 63 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Assets Liabilities ​ ​ Notional ​ ​ ​ Fair ​ ​ ​ Fair December 31, 2020 (Millions) ​ Amount ​ Location ​ Value Amount ​ Location ​ Value Amount Derivatives designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 1,630 Other current assets ​ $ 14 Other current liabilities ​ $ 67 ​ Foreign currency forward/option contracts ​ ​ 669 ​ Other assets ​ ​ 10 ​ Other liabilities ​ ​ 25 ​ Interest rate contracts ​ 403 Other current assets ​ 7 Other current liabilities ​ — ​ Total derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 31 ​ ​ ​ $ 92 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivatives not designated as ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ hedging instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ $ 3,166 Other current assets ​ $ 13 Other current liabilities ​ $ 14 ​ Total derivatives not designated as hedging instruments ​ ​ ​ ​ ​ ​ $ 13 ​ ​ ​ $ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total derivative instruments ​ ​ ​ ​ ​ ​ $ 44 ​ ​ ​ $ 106 ​ ​
Offsetting Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 2021 (Millions) ​ Balance Sheet ​ Derivative Liabilities ​ Received ​ Derivative Assets Derivatives subject to master netting agreements ​ $ 84 ​ $ 34 ​ $ — ​ $ 50 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 84 ​ ​ ​ ​ ​ ​ ​ $ 50 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 44 ​ $ 11 ​ $ — ​ $ 33 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 44 ​ ​ ​ ​ ​ ​ ​ $ 33
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, 2021 (Millions) ​ Balance Sheet ​ Derivative Assets ​ Pledged ​ Liabilities Derivatives subject to master netting agreements ​ $ 63 ​ $ 34 ​ $ — ​ $ 29 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 63 ​ ​ ​ ​ ​ ​ ​ $ 29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 (Millions) ​ ​ ​ ​ ​ ​ ​ ​ Derivatives subject to master netting agreements ​ $ 106 ​ $ 11 ​ $ — ​ $ 95 Derivatives not subject to master netting agreements ​ — ​ ​ ​ ​ ​ ​ ​ — Total ​ $ 106 ​ ​ ​ ​ ​ ​ ​ $ 95

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2021 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 7 ​ $ — ​ $ 7 ​ $ — Commercial paper ​ ​ 384 ​ ​ — ​ ​ 384 ​ ​ — Certificates of deposit/time deposits ​ 7 ​ — ​ 7 ​ — U.S. treasury securities ​ 100 ​ 100 ​ — ​ — U.S. municipal securities ​ 34 ​ — ​ — ​ 34 Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 79 ​ — ​ 79 ​ — Interest rate contracts ​ 5 ​ — ​ 5 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 63 ​ — ​ 63 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Description ​ Fair Value at ​ Using Inputs Considered as (Millions) December 31, 2020 Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Marketable securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt securities ​ $ 7 ​ $ — ​ $ 7 ​ $ — ​ Commercial paper ​ ​ 237 ​ ​ — ​ ​ 237 ​ ​ — ​ Certificates of deposit/time deposits ​ 31 ​ — ​ 31 ​ — ​ U.S. treasury securities ​ 125 ​ 125 ​ — ​ — ​ U.S. municipal securities ​ 34 ​ — ​ — ​ 34 ​ Derivative instruments — assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 37 ​ — ​ 37 ​ — ​ Interest rate contracts ​ 7 ​ — ​ 7 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative instruments — liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency forward/option contracts ​ 106 ​ — ​ 106 ​ — ​
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended Marketable securities — certain U.S. municipal securities only ​ March 31, (Millions) ​ 2021 2020 Beginning balance ​ $ 34 ​ $ 46 Total gains or losses: ​ ​ ​ ​ ​ ​ Included in earnings ​ — ​ — Included in other comprehensive income ​ — ​ — Purchases and issuances ​ — ​ 10 Sales and settlements ​ — ​ (19) Transfers in and/or out of level 3 ​ — ​ — Ending balance ​ $ 34 ​ $ 37 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, 2021 ​ December 31, 2020 ​ Carrying Fair Carrying Fair (Millions) ​ Value ​ Value ​ Value ​ Value Long-term debt, excluding current portion ​ $ 16,819 ​ $ 18,277 ​ $ 17,989 ​ $ 20,496 ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Stock-Based Compensation
Stock-Based Compensation Expense	Stock-Based Compensation Expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ (Millions) 2021 2020 Cost of sales ​ $ 22 ​ $ 22 ​ ​ Selling, general and administrative expenses ​ 84 ​ 73 ​ ​ Research, development and related expenses ​ 25 ​ 25 ​ ​ Stock-based compensation expenses ​ $ 131 ​ $ 120 ​ ​ Income tax benefits ​ ​ (51) ​ ​ (39) ​ ​ Stock-based compensation expenses (benefits), net of tax ​ $ 80 ​ $ 81 ​ ​
Stock Option Activity	​ Stock Option Program ​ The following table summarizes stock option activity during the three months ended March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ Weighted Remaining Aggregate ​ ​ Number of ​ Average ​ Contractual ​ Intrinsic Value ​ (Options in thousands) Options ​ Exercise Price ​ Life (months) ​ (millions) ​ Under option — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1 35,401 ​ $ 156.23 ​ ​ ​ ​ Granted 3,612 ​ 175.04 ​ ​ ​ Exercised (2,323) ​ 104.16 ​ ​ ​ Forfeited (104) ​ 174.71 ​ ​ ​ March 31 36,586 ​ $ 161.34 68 ​ $ 1,299 Options exercisable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31 28,819 ​ $ 158.58 57 ​ $ 1,126
Stock Option Assumptions	Stock Option Assumptions ​ ​ ​ ​ ​ ​ ​ Annual ​ ​ 2021 ​ Exercise price ​ $ 175.04 ​ Risk-free interest rate ​ 0.8 % Dividend yield ​ 2.8 % Expected volatility ​ 22.6 % Expected life (months) ​ 83 ​ Black-Scholes fair value ​ $ 25.33 ​
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, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date (Shares in thousands) ​ Shares ​ Fair Value Nonvested balance — ​ ​ ​ ​ ​ ​ As of January 1 1,722 ​ $ 189.78 ​ Granted ​ 721 ​ 175.09 ​ Vested (433) ​ 232.62 ​ Forfeited (33) ​ 173.54 ​ As of March 31 1,977 ​ $ 175.31 ​
Performance Shares Activity	The following table summarizes performance share activity during the three months ended March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ Average ​ Number of ​ Grant Date (Shares in thousands) Shares ​ Fair Value Undistributed balance — ​ ​ ​ ​ ​ As of January 1 423 ​ $ 188.61 ​ Granted 163 ​ 176.41 ​ Distributed (115) ​ 228.80 ​ Performance change 17 ​ 178.43 ​ Forfeited (4) ​ 172.92 ​ As of March 31 484 ​ $ 174.75 ​ ​

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Business Segments
Business Segment Information	Business Segment Information ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended (Millions) ​ March 31, Net Sales 2021 2020 Safety and Industrial $ 3,327 $ 2,927 Transportation and Electronics ​ 2,531 ​ 2,239 Health Care ​ 2,248 ​ 2,104 Consumer ​ 1,373 ​ 1,250 Corporate and Unallocated ​ (2) ​ — Elimination of Dual Credit ​ (626) ​ (445) Total Company $ 8,851 $ 8,075 ​ ​ ​ ​ ​ ​ ​ Operating Performance ​ ​ ​ ​ ​ ​ Safety and Industrial $ 811 $ 694 Transportation and Electronics ​ 591 ​ 464 Health Care ​ 509 ​ 452 Consumer ​ 289 ​ 265 Elimination of Dual Credit ​ (159) ​ (113) Total business segment operating income $ 2,041 $ 1,762 Corporate and Unallocated ​ ​ ​ ​ ​ ​ Special items: ​ ​ ​ ​ ​ ​ Significant litigation-related (charges)/benefits ​ ​ — ​ ​ (17) Gain/(loss) on sale of businesses ​ ​ — ​ ​ 2 Other corporate expense - net ​ (47) ​ (84) Total Corporate and Unallocated ​ ​ (47) ​ ​ (99) Total Company operating income ​ $ 1,994 ​ $ 1,663 ​ ​ ​ ​ ​ ​ ​ Other expense/(income), net ​ $ 49 ​ $ 75 Income before income taxes ​ $ 1,945 ​ $ 1,588

Significant Accounting Polici_4

Significant Accounting Policies - Consolidated Statement of Income as Adjusted (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other expense (income), net	$ 49	$ 75
Income before income taxes	1,945	1,588
Provision for income taxes	319	278
Income of consolidated group	1,626	1,310
Net income including noncontrolling interest	1,627	1,310
Net income attributable to 3M	$ 1,624	$ 1,308
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)	$ 2.80	$ 2.27
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)	$ 2.77	$ 2.25
Under Prior Method
Other expense (income), net		$ 96
Income before income taxes		1,567
Provision for income taxes		273
Income of consolidated group		1,294
Net income including noncontrolling interest		1,294
Net income attributable to 3M		$ 1,292
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)		$ 2.24
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)		$ 2.22

Significant Accounting Polici_5

Significant Accounting Policies - Consolidated Statement of Comprehensive Income as Adjusted (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income including noncontrolling interest	$ 1,627	$ 1,310
Other comprehensive income (loss), net of tax:
Defined benefit pension and postretirement plans adjustment	119	108
Total other comprehensive income (loss), net of tax	(45)	(289)
Comprehensive income (loss) including noncontrolling interest	1,582	1,021
Comprehensive income (loss) attributable to 3M	$ 1,578	1,022
Under Prior Method
Net income including noncontrolling interest		1,294
Other comprehensive income (loss), net of tax:
Defined benefit pension and postretirement plans adjustment		119
Total other comprehensive income (loss), net of tax		(278)
Comprehensive income (loss) including noncontrolling interest		1,016
Comprehensive income (loss) attributable to 3M		$ 1,017

Significant Accounting Polici_6

Significant Accounting Policies - Consolidated Balance Sheet as Adjusted (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
3M Company shareholders' equity:
Retained earnings	$ 44,255	$ 43,821
Accumulated other comprehensive income (loss)	$ (7,767)	(7,721)
Under Prior Method
3M Company shareholders' equity:
Retained earnings		43,761
Accumulated other comprehensive income (loss)		$ (7,661)
Cumulative Effect, Period of Adoption, Adjustment
3M Company shareholders' equity:
Retained earnings			$ (5)
Accumulated other comprehensive income (loss)			$ (5)

Significant Accounting Polici_7

Significant Accounting Policies - Consolidated Statement of Cash Flow as Adjusted (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income including noncontrolling interest	$ 1,627	$ 1,310
Company pension and postretirement expense	47	77
Other - net	$ (234)	(452)
Under Prior Method
Cash Flows from Operating Activities
Net income including noncontrolling interest		1,294
Company pension and postretirement expense		98
Other - net		$ (457)

Significant Accounting Polici_8

Significant Accounting Policies - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings per share
Options outstanding not included in computation of diluted earnings per share (in shares)	8.7	19.2
Numerator:
Net income attributable to 3M	$ 1,624	$ 1,308
Denominator:
Denominator for weighted average 3M common shares outstanding - basic (in shares)	580.5	576.8
Dilution associated with the Company's stock-based compensation plans (in shares)	5.8	4.7
Denominator for weighted average 3M common shares outstanding - diluted (in shares)	586.3	581.5
Earnings per share attributable to 3M common shareholders - basic (in dollars per share)	$ 2.80	$ 2.27
Earnings per share attributable to 3M common shareholders - diluted (in dollars per share)	$ 2.77	$ 2.25

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Contract Balance
Software license contracts term	1 year
Deferred revenue	$ 482		$ 498
Deferred income recognized as revenue	180		$ 160
Operating Lease Revenue	$ 140	$ 142

Revenue - Disaggregated Revenue

Revenue - Disaggregated Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue
Net Sales	$ 8,851	$ 8,075
Corporate and Unallocated
Disaggregation of Revenue
Net Sales	(2)
Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(626)	(445)
Americas
Disaggregation of Revenue
Net Sales	4,328	4,142
Americas | Corporate and Unallocated
Disaggregation of Revenue
Net Sales	(1)	1
Americas | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(278)	(206)
Asia Pacific
Disaggregation of Revenue
Net Sales	2,769	2,345
Asia Pacific | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(230)	(175)
Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	1,755	1,590
Europe, Middle East and Africa | Elimination of Dual Credit
Disaggregation of Revenue
Net Sales	(118)	(64)
Other Unallocated
Disaggregation of Revenue
Net Sales	(1)	(2)
Other Unallocated | Corporate and Unallocated
Disaggregation of Revenue
Net Sales	(1)	(1)
United States
Disaggregation of Revenue
Net Sales	3,600	3,400
Safety and Industrial
Disaggregation of Revenue
Net Sales	3,327	2,927
Safety and Industrial | Americas
Disaggregation of Revenue
Net Sales	1,697	1,517
Safety and Industrial | Asia Pacific
Disaggregation of Revenue
Net Sales	823	712
Safety and Industrial | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	807	698
Safety and Industrial | Abrasives
Disaggregation of Revenue
Net Sales	352	330
Safety and Industrial | Automotive Aftermarket
Disaggregation of Revenue
Net Sales	312	284
Safety and Industrial | Closure and Masking Systems
Disaggregation of Revenue
Net Sales	243	268
Safety and Industrial | Electrical Markets
Disaggregation of Revenue
Net Sales	307	288
Safety and Industrial | Industrial Adhesives and Tapes
Disaggregation of Revenue
Net Sales	768	671
Safety and Industrial | Personal Safety
Disaggregation of Revenue
Net Sales	1,237	989
Safety and Industrial | Roofing Granules
Disaggregation of Revenue
Net Sales	108	95
Safety and Industrial | Other Safety and Industrial
Disaggregation of Revenue
Net Sales		2
Transportation and Electronics
Disaggregation of Revenue
Net Sales	2,531	2,239
Transportation and Electronics | Americas
Disaggregation of Revenue
Net Sales	650	675
Transportation and Electronics | Asia Pacific
Disaggregation of Revenue
Net Sales	1,490	1,202
Transportation and Electronics | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	391	362
Transportation and Electronics | Advanced Materials
Disaggregation of Revenue
Net Sales	316	288
Transportation and Electronics | Automotive and Aerospace
Disaggregation of Revenue
Net Sales	516	448
Transportation and Electronics | Commercial Solutions
Disaggregation of Revenue
Net Sales	438	430
Transportation and Electronics | Electronics
Disaggregation of Revenue
Net Sales	1,042	863
Transportation and Electronics | Transportation Safety
Disaggregation of Revenue
Net Sales	218	211
Transportation and Electronics | Other Transportation and Electronics
Disaggregation of Revenue
Net Sales	1	(1)
Health Care
Disaggregation of Revenue
Net Sales	2,248	2,104
Health Care | Americas
Disaggregation of Revenue
Net Sales	1,311	1,281
Health Care | Asia Pacific
Disaggregation of Revenue
Net Sales	408	356
Health Care | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	529	467
Health Care | Drug Delivery
Disaggregation of Revenue
Net Sales		105
Health Care | Food Safety
Disaggregation of Revenue
Net Sales	88	91
Health Care | Health Information Systems
Disaggregation of Revenue
Net Sales	289	277
Health Care | Medical Solutions
Disaggregation of Revenue
Net Sales	1,267	1,153
Health Care | Oral Care
Disaggregation of Revenue
Net Sales	363	277
Health Care | Separation and Purification Sciences
Disaggregation of Revenue
Net Sales	241	202
Health Care | Other Health Care
Disaggregation of Revenue
Net Sales		(1)
Consumer
Disaggregation of Revenue
Net Sales	1,373	1,250
Consumer | Americas
Disaggregation of Revenue
Net Sales	949	874
Consumer | Asia Pacific
Disaggregation of Revenue
Net Sales	278	250
Consumer | Europe, Middle East and Africa
Disaggregation of Revenue
Net Sales	146	127
Consumer | Other Unallocated
Disaggregation of Revenue
Net Sales		(1)
Consumer | Consumer Health and Safety
Disaggregation of Revenue
Net Sales	150	172
Consumer | Home Care
Disaggregation of Revenue
Net Sales	279	271
Consumer | Home Improvement
Disaggregation of Revenue
Net Sales	623	503
Consumer | Stationery and Office
Disaggregation of Revenue
Net Sales	285	268
Consumer | Other Consumer
Disaggregation of Revenue
Net Sales	$ 36	$ 36

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) - item	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Supplemental information:
Number of acquisitions	0	0

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Divestitures (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021item	Mar. 31, 2020USD ($)
Acquisitions and Divestitures
Number of businesses sold | item	0
Annual sales of divested business | $		$ 25

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill balance by business segment (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill Information
Goodwill acquired during period	$ 0
Goodwill
Balance at the beginning of the period	13,802,000,000
Translation and other	(148,000,000)
Balance at the end of the period	13,654,000,000
Safety and Industrial
Goodwill
Balance at the beginning of the period	4,687,000,000
Translation and other	(29,000,000)
Balance at the end of the period	4,658,000,000
Transportation and Electronics
Goodwill
Balance at the beginning of the period	1,858,000,000
Translation and other	(14,000,000)
Balance at the end of the period	1,844,000,000
Health Care
Goodwill
Balance at the beginning of the period	6,992,000,000
Translation and other	(98,000,000)
Balance at the end of the period	6,894,000,000
Consumer
Goodwill
Balance at the beginning of the period	265,000,000
Translation and other	(7,000,000)
Balance at the end of the period	$ 258,000,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Acquired intangible assets disclosures
Total gross carrying amount	$ 8,172	$ 8,213
Total accumulated amortization	(3,130)	(3,036)
Total finite-lived intangible assets - net	5,042	5,177
Non-amortizable intangible assets (primarily tradenames)	655	658
Total intangible assets - net	$ 5,697	5,835
Minimum
Acquired intangible assets disclosures
Indefinite lived tradenames years in existence	60 years
Customer related intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	$ 4,266	4,280
Total accumulated amortization	(1,473)	(1,422)
Patents
Acquired intangible assets disclosures
Total gross carrying amount	517	537
Total accumulated amortization	(495)	(512)
Other technology-based intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	2,113	2,114
Total accumulated amortization	(687)	(638)
Definite-lived tradenames
Acquired intangible assets disclosures
Total gross carrying amount	1,172	1,178
Total accumulated amortization	(397)	(385)
Other amortizable intangible assets
Acquired intangible assets disclosures
Total gross carrying amount	104	104
Total accumulated amortization	$ (78)	$ (79)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedules for Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets
Amortization expense for acquired intangible assets	$ 133	$ 134
Expected amortization expense for acquired intangible assets recorded as of balance sheet date
Remainder of 2021	395
2022	514
2023	488
2024	458
2025	428
2026	421
After 2026	$ 2,338

Restructuring Actions (Details)

Restructuring Actions (Details) $ in Millions	3 Months Ended			15 Months Ended
	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)person	Jun. 30, 2020USD ($)person	Dec. 31, 2021USD ($)person
Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring and related cost, number of positions affected | person				2,900
Operational/Marketing Capability Restructuring | Minimum
Restructuring Cost and Reserve
Restructuring charges				$ 250
Operational/Marketing Capability Restructuring | Maximum
Restructuring Cost and Reserve
Restructuring charges				$ 300
2021 Restructuring Actions | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	$ 14
2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	14
2021 Restructuring Actions | Cost of sales | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	1
2021 Restructuring Actions | Selling, general and administrative expenses | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	9
2021 Restructuring Actions | Research, development and related expenses | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	4
2020 Restructuring Actions | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring and related cost, number of positions affected | person		2,100
Restructuring charges		$ 137
2020 Restructuring Actions | Drug delivery business
Restructuring Cost and Reserve
Restructuring and related cost, number of positions affected | person			1,300
Restructuring charges			$ 55
2020 Restructuring Actions | Other Restructuring
Restructuring Cost and Reserve
Restructuring and related cost, number of positions affected | person			400
Restructuring charges			$ 58
Corporate and Unallocated | 2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	7
Safety and Industrial | 2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	2
Transportation and Electronics | 2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	3
Health Care | 2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	1
Consumer | 2021 Restructuring Actions | Employee-Related | Operational/Marketing Capability Restructuring
Restructuring Cost and Reserve
Restructuring charges	$ 1

Restructuring Actions - Roll Fo

Restructuring Actions - Roll Forward (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Employee-Related | 2020 Restructuring Actions | Other Restructuring
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	$ 24
Cash Payments	(4)
Restructuring Reserve, Accrual Adjustment	(9)
Restructuring actions balances, Ending Balance	11
Operational/Marketing Capability Restructuring | Employee-Related | 2021 Restructuring Actions
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	101
Incremental expense incurred	14
Cash Payments	(14)
Restructuring actions balances, Ending Balance	101
Drug delivery business | 2020 Restructuring Actions
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	24
Cash Payments	(1)
Restructuring Reserve, Accrual Adjustment	(1)
Restructuring actions balances, Ending Balance	22
Drug delivery business | Employee-Related | 2020 Restructuring Actions
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	15
Cash Payments	(1)
Restructuring Reserve, Accrual Adjustment	(1)
Restructuring actions balances, Ending Balance	13
Drug delivery business | Asset-Related and Other | 2020 Restructuring Actions
Restructuring Reserve Roll Forward
Restructuring actions balances, Beginning Balance	9
Restructuring actions balances, Ending Balance	$ 9

Supplemental Income Statement_3

Supplemental Income Statement Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest expense	$ 132	$ 123
Interest income	(4)	(10)
Pension and postretirement net periodic benefit cost (benefit)	(79)	(38)
Total	49	$ 75
Fixed rate medium term note due 2022
Loss on extinguishment of debt	$ 11

Supplemental Equity and Compr_3

Supplemental Equity and Comprehensive Income Information - Dividends (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental Equity and Comprehensive Income Information
Dividends declared in current period (in dollars per share)	$ 1.48	$ 1.47

Supplemental Equity and Compr_4

Supplemental Equity and Comprehensive Income Information - SE Rf (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Increase (decrease) in equity
Balance at the beginning of the period	$ 12,931	$ 10,126
Net income	1,627	1,310
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(222)	(444)
Defined benefit pension and postretirement plans adjustment	119	108
Cash flow hedging instruments	58	47
Total other comprehensive income (loss), net of tax	(45)	(289)
Dividends declared	(858)	(847)
Stock-based compensation	121	117
Reacquired stock	(243)	(356)
Issuances pursuant to stock option and benefit plans	295	153
Balance at the end of the period	13,828	10,214
Common Stock and Additional Paid-in Capital
Increase (decrease) in equity
Balance at the beginning of the period	6,171	5,916
Other comprehensive income (loss), net of tax:
Stock-based compensation	121	117
Balance at the end of the period	6,292	6,033
Retained Earnings
Increase (decrease) in equity
Balance at the beginning of the period	43,821	42,130
Net income	1,624	1,308
Other comprehensive income (loss), net of tax:
Dividends declared	(858)	(847)
Issuances pursuant to stock option and benefit plans	(332)	(235)
Balance at the end of the period	44,255	42,356
Treasury Stock
Increase (decrease) in equity
Balance at the beginning of the period	(29,404)	(29,849)
Other comprehensive income (loss), net of tax:
Reacquired stock	(243)	(356)
Issuances pursuant to stock option and benefit plans	627	388
Balance at the end of the period	(29,020)	(29,817)
Total Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in equity
Balance at the beginning of the period	(7,721)	(8,134)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(223)	(441)
Defined benefit pension and postretirement plans adjustment	119	108
Cash flow hedging instruments	58	47
Balance at the end of the period	(7,767)	(8,420)
Noncontrolling Interest
Increase (decrease) in equity
Balance at the beginning of the period	64	63
Net income	3	2
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	1	(3)
Balance at the end of the period	$ 68	$ 62

Supplemental Equity and Compr_5

Supplemental Equity and Comprehensive Income Information - AOCI rf (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	$ 12,931	$ 10,126
Other comprehensive income (loss), before tax:
Balance at the end of the period	13,828	10,214
Cumulative Translation Adjustment
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	(1,450)	(1,899)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(176)	(439)
Total other comprehensive income (loss), before tax	(176)	(439)
Tax effect	(47)	(2)
Total other comprehensive income (loss), net of tax	(223)	(441)
Balance at the end of the period	(1,673)	(2,340)
Defined Pension and Postretirement Plans Adjustment
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	(6,098)	(6,204)
Other comprehensive income (loss), before tax:
Amounts reclassified out	159	150
Total other comprehensive income (loss), before tax	159	150
Tax effect	(40)	(42)
Total other comprehensive income (loss), net of tax	119	108
Balance at the end of the period	(5,979)	(6,096)
Cash Flow Hedging Instruments, Unrealized Gain (Loss)
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	(173)	(31)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	66	77
Amounts reclassified out	9	(16)
Total other comprehensive income (loss), before tax	75	61
Tax effect	(17)	(14)
Total other comprehensive income (loss), net of tax	58	47
Balance at the end of the period	(115)	16
Retained Earnings
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	43,821	42,130
Other comprehensive income (loss), before tax:
Balance at the end of the period	44,255	42,356
Total Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to 3M, Net of Tax Roll Forward
Balance at the beginning of the period	(7,721)	(8,134)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(110)	(362)
Amounts reclassified out	168	134
Total other comprehensive income (loss), before tax	58	(228)
Tax effect	(104)	(58)
Total other comprehensive income (loss), net of tax	(46)	(286)
Balance at the end of the period	$ (7,767)	$ (8,420)

Supplemental Equity and Compr_6

Supplemental Equity and Comprehensive Income Information - Reclass AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amount Reclassified from Accumulated Other Comprehensive Income
Net of tax	$ (126)	$ (96)
Defined Pension and Postretirement Plans Adjustment
Amount Reclassified from Accumulated Other Comprehensive Income
Transition asset		(1)
Prior service benefit	15	15
Net actuarial loss	(173)	(163)
Curtailments/Settlements	(1)	(1)
Total before tax	(159)	(150)
Tax effect	40	42
Net of tax	(119)	(108)
Cash Flow Hedging Instruments, Unrealized Gain (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income
Total before tax	(9)	16
Tax effect	2	(4)
Net of tax	(7)	12
Cash Flow Hedging Instruments, Unrealized Gain (Loss) | Foreign currency exchange contracts
Amount Reclassified from Accumulated Other Comprehensive Income
Cost of sales	(7)	18
Cash Flow Hedging Instruments, Unrealized Gain (Loss) | Interest rate contracts
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	$ (2)	$ (2)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Taxes.
Unrecognized tax benefits that would affect the effective tax rate	$ 1,094,000		$ 1,145,000
Deferred tax assets valuation allowance	$ 143,000		$ 135,000
Effective tax rate (as a percent)	16.40%	17.50%
Decrease in effective income tax rate from prior reporting period to current reporting period (as a percent)	(1.10%)

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Marketable Securities
Current marketable securities	$ 501	$ 404
Non-current marketable securities	31	30
Total marketable securities	532	434
Corporate debt securities
Marketable Securities
Current marketable securities	7	7
Commercial paper
Marketable Securities
Current marketable securities	384	237
Certificates of deposit/time deposits
Marketable Securities
Current marketable securities	7	31
U.S. treasury securities
Marketable Securities
Current marketable securities	100	125
U.S. municipal securities
Marketable Securities
Current marketable securities	3	4
Non-current marketable securities	$ 31	$ 30

Marketable Securities - Contrac

Marketable Securities - Contractual maturity (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Marketable securities by contractual maturity
Due in one year or less	$ 501
Due after one year through five years	15
Due after five years through ten years	16
Total marketable securities	$ 532	$ 434

Long-Term Debt and Short-Term_3

Long-Term Debt and Short-Term Borrowings - Long-Term Debt Maturities and Extinguishments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt instrument
Commercial paper outstanding	$ 0	$ 0
Fixed rate medium term note due 2022
Debt instrument
Interest rate, stated percentage (as a percent)	2.75%
Loss on early debt extinguishment	$ 11,000,000
Debt redeemed	$ 450,000,000

Long-Term Debt and Short-Term_4

Long-Term Debt and Short-Term Borrowings - Future Maturities of Long-term Debt (Details) $ in Millions	Mar. 31, 2021USD ($)
Maturities of long-term debt
Remainder of 2021	$ 763
2022	1,256
2023	1,945
2024	1,100
2025	1,791
2026	1,516
After 2026	9,798
Total long-term debt	$ 18,169

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, 2021	Mar. 31, 2020
Net periodic benefit cost (benefit)
Net periodic benefit cost (benefit)	$ (79)	$ (38)
Funded | Postretirement Benefits
Net periodic benefit cost (benefit)
Service cost	12	11
Interest cost	11	16
Expected return on plan assets	(19)	(20)
Amortization of prior service benefit	(8)	(8)
Amortization of net actuarial loss	14	11
Settlements, curtailments, special terminations and other	1	1
Total non-operating expense (benefit)	(1)
Net periodic benefit cost (benefit)	11	11
Funded | United States | Qualified and Non-qualified Pension Benefits
Net periodic benefit cost (benefit)
Service cost	72	66
Interest cost	90	124
Expected return on plan assets	(264)	(262)
Amortization of prior service benefit	(6)	(6)
Amortization of net actuarial loss	132	123
Total non-operating expense (benefit)	(48)	(21)
Net periodic benefit cost (benefit)	24	45
Funded | International | Qualified and Non-qualified Pension Benefits
Net periodic benefit cost (benefit)
Service cost	42	38
Interest cost	25	31
Expected return on plan assets	(81)	(77)
Amortization of transition asset		1
Amortization of prior service benefit	(1)	(1)
Amortization of net actuarial loss	27	29
Total non-operating expense (benefit)	(30)	(17)
Net periodic benefit cost (benefit)	$ 12	$ 21

Pension and Postretirement Be_4

Pension and Postretirement Benefit Plans - Narrative (Details) - Funded - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Qualified and Non-qualified Pension Benefits
Benefit Plan Information
Company contributions year to date	$ 46
Postretirement Benefits
Benefit Plan Information
Company contributions year to date	$ 1
Forecast | Qualified and Non-qualified Pension Benefits | Maximum
Benefit Plan Information
Estimated pension and postretirement employer contributions in current fiscal year		$ 200

Derivatives - Cash Flow Hedges

Derivatives - Cash Flow Hedges (Details) - Cash flow hedge $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Derivatives in Cash Flow Hedging Relationships
Accumulated other comprehensive income (loss), unrealized gain (loss) on cash flow hedges	$ (115)
Foreign currency forward/options contracts
Derivatives in Cash Flow Hedging Relationships
Maximum length of time hedged in interest rate cash flow hedge	36 months
Interest rate swap and treasury lock in aggregate
Derivatives in Cash Flow Hedging Relationships
Accumulated other comprehensive income (loss), unrealized gain (loss) on cash flow hedges	$ (106)
Foreign currency exchange contracts
Derivatives in Cash Flow Hedging Relationships
After-tax net unrealized gain (loss) anticipated to be reclassified from AOCI to the income statement within next twelve months	19
After-tax net unrealized gain (loss) anticipated to be reclassified from AOCI to the income statement over remaining fiscal year	22
After-tax net unrealized gain (loss) anticipated to be reclassifed from AOCI to the income statement over next fiscal year	2
After-tax net unrealized gain (loss) anticipated to be reclassified from AOCI to the income statement after the next fiscal year	$ 91

Derivatives - Cash Flow Hedge_2

Derivatives - Cash Flow Hedges - Gain (Loss) in OCI or Reclassified from AOCI (Details) - Cash flow hedge - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative	$ 66	$ 77
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(9)	16
Foreign currency exchange contracts
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative	66	79
Foreign currency exchange contracts | Cost of sales
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(7)	18
Interest rate contracts
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Recognized in Other Comprehensive Income on Derivative		(2)
Interest rate contracts | Interest expense
Derivatives in Cash Flow Hedging Relationships
Pretax Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	$ (2)	$ (2)

Derivatives - Cumulative Basis

Derivatives - Cumulative Basis Adjustment for Fair Value Hedges (Details) - Fair value hedges - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Derivatives
Hedged Liability, Fair Value Hedge	$ 582	$ 598
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	9	11
Short-term borrowings and current portion of long-term debt
Derivatives
Hedged Liability, Fair Value Hedge	357	373
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	4	5
Long-term debt
Derivatives
Hedged Liability, Fair Value Hedge	225	225
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 5	$ 6

Derivatives - Net Investment He

Derivatives - Net Investment Hedges (Details) - Net Investment Hedges € in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021EUR (€)
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	169,000,000	16,000,000
Cost of sales
Net investment hedges
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income	(1,000,000)	5,000,000
Foreign currency forward/options contracts
Net investment hedges
Derivative notional amount | €			€ 50
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income on Effective Portion of Instrument	2,000,000	1,000,000
Foreign currency forward/options contracts | Cost of sales
Net investment hedges
Amount of Gain (Loss) Excluded from Effectiveness Testing Recognized in Income	(1,000,000)	5,000,000
Foreign currency denominated debt
Net investment hedges
Face amount of debt designated as a net investment hedge | €			€ 3,500
Pretax Gain (Loss) Recognized as Cumulative Translation within Other Comprehensive Income on Effective Portion of Instrument	$ 167,000,000	$ 15,000,000

Derivatives - Not Designated (D

Derivatives - Not Designated (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income	$ 22	$ (12)
Foreign currency exchange contracts | Cost of sales
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income		4
Foreign currency forward/options contracts | Interest expense
Derivatives not designated as hedging instruments
Gain (Loss) on Derivative Recognized in Income	$ 22	$ (16)

Derivatives - Statement of Inco

Derivatives - Statement of Income Location and Impact of Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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	$ 4,525	$ 4,109
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	49	75
Cash flow hedge
Gain or (loss) on cash flow hedging relationships:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	(9)	16
Cash flow hedge | Foreign currency exchange 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	(7)	18
Cash flow hedge | 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)	(2)
Fair value hedges | Interest rate contracts | Other expense (income), net
Gain or (loss) on fair value hedging relationships:
Hedged items	2	(2)
Derivatives designated as hedging instruments	$ (2)	$ 2

Derivatives - BS Location (Deta

Derivatives - BS Location (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	$ 84	$ 44
Fair Value of Derivative Instruments, Liabilities	63	106
Derivatives designated as hedging instruments
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	62	31
Fair Value of Derivative Instruments, Liabilities	48	92
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Other current assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	36	14
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Other assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	21	10
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Other current liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	38	67
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Other liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	10	25
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	1,656	1,630
Derivatives designated as hedging instruments | Foreign currency exchange contracts | Noncurrent balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	685	669
Derivatives designated as hedging instruments | Interest rate contracts | Other current assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	5	7
Derivatives designated as hedging instruments | Interest rate contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	403	403
Derivatives not designated as hedging instruments
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	22	13
Fair Value of Derivative Instruments, Liabilities	15	14
Derivatives not designated as hedging instruments | Foreign currency exchange contracts | Other current assets
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Assets	22	13
Derivatives not designated as hedging instruments | Foreign currency exchange contracts | Other current liabilities
Location and Fair Value Amount of Derivative Instruments
Fair Value of Derivative Instruments, Liabilities	15	14
Derivatives not designated as hedging instruments | Foreign currency exchange contracts | Current balance sheet location
Location and Fair Value Amount of Derivative Instruments
Derivative Notional Amount	$ 3,487	$ 3,166

Derivatives - Offsetting Assets

Derivatives - Offsetting Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)Counterparty	Dec. 31, 2020USD ($)
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	$ 84	$ 44
Net Amount of Derivative Assets	50	33
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	84	44
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities	34	11
Net Amount of Derivative Assets	$ 50	$ 33

Derivatives - Offsetting Liabil

Derivatives - Offsetting Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	$ 63	$ 106
Net Amount of Derivative Liabilities	29	95
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	63	106
Gross Amount of Eligible Offsetting Recognized Derivative Assets	34	11
Net Amount of Derivative Liabilities	$ 29	$ 95

Derivatives - Currency Effects

Derivatives - Currency Effects (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Foreign Currency
Year-on-year foreign currency transaction effects, including hedging impact, gain (loss) impact on pre-tax income	$ (10)

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	$ 532	$ 434
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	84	44
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	63	106
Fair value on a recurring basis | Foreign currency exchange contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	79	37
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	63	106
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	5	7
Fair value on a recurring basis | Corporate debt securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	7	7
Fair value on a recurring basis | Commercial paper
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	384	237
Fair value on a recurring basis | Certificates of deposit/time deposits
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	7	31
Fair value on a recurring basis | U.S. treasury securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	100	125
Fair value on a recurring basis | U.S. municipal securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	34	34
Fair value on a recurring basis | Level 1 | U.S. treasury securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	100	125
Fair value on a recurring basis | Level 2 | Foreign currency exchange contracts
Assets and Liabilities Measured on Recurring Basis
Gross Amounts of Derivative Assets Presented in the Consolidated Balance Sheet	79	37
Gross Amounts of Derivative Liabilities Presented in the Consolidated Balance Sheet	63	106
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	5	7
Fair value on a recurring basis | Level 2 | Corporate debt securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	7	7
Fair value on a recurring basis | Level 2 | Commercial paper
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	384	237
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	7	31
Fair value on a recurring basis | Level 3 | U.S. municipal securities
Assets and Liabilities Measured on Recurring Basis
Available-for-sale marketable securities	$ 34	$ 34

Fair Value Measurements - Rec_2

Fair Value Measurements - Recurring Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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	$ 34	$ 46
Total gains or losses included in earnings	0	0
Total gains or losses included in other comprehensive income	0	0
Purchases and issuances	0	10
Sales and settlements	0	(19)
Transfers in and/or out of Level 3	0	0
Balance at the end of the period	34	37
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, 2021	Mar. 31, 2020
Assets and Liabilities Measured on Recurring or Nonrecurring Basis
Impairment of long-lived asset	$ 0
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, 2021	Dec. 31, 2020
Carrying Value
Financial Instruments
Long-term debt, excluding current portion - Fair Value	$ 16,819	$ 17,989
Fair Value
Financial Instruments
Long-term debt, excluding current portion - Fair Value	$ 18,277	$ 20,496

Commitments and Contingencies -

Commitments and Contingencies - Respirator (Details)	1 Months Ended	2 Months Ended	3 Months Ended							12 Months Ended
	Apr. 30, 2018USD ($)individual	Apr. 30, 2019USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2021USD ($)individual	Mar. 31, 2021USD ($)case	Mar. 31, 2021USD ($)lawsuit	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020individual
Respirator Mask/Asbestos Litigation
Loss contingencies
Total number of named claimants | individual				2,179						2,075
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					15	2
Number of total claims taken to trial | case					16
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
Litigation settlement awarded	$ 2,000,000
Number of unnamed defendant | individual	2
Amount of punitive damages awarded	$ 63,000,000
Respirator Mask/Asbestos Litigation | Kentucky and West Virginia
Loss contingencies
Settlement amount paid		$ 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
Respirator Mask/Asbestos litigation - Excluding Aearo Technologies
Loss contingencies
Increase in liabilities, gross							36,000,000		$ 313,000,000
Insurance receivables			4,000,000	4,000,000	4,000,000	4,000,000	4,000,000
Litigation settlement awarded							19,000,000
Accrued loss contingency reserve			679,000,000	679,000,000	679,000,000	679,000,000	679,000,000
Respirator Mask/Asbestos Litigation - Aearo Technologies
Loss contingencies
Accrued loss contingency reserve			$ 27,000,000	$ 27,000,000	$ 27,000,000	$ 27,000,000	27,000,000
Increase (decrease) accrued loss contingency reserve								$ 37,000,000
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
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Apr. 30, 2019USD ($)	Jul. 31, 2018USD ($)	Feb. 28, 2018USD ($)	Mar. 31, 2021USD ($)lawsuit	Mar. 31, 2021USD ($)individuallawsuit	Mar. 31, 2021USD ($)lawsuit	Mar. 31, 2021USD ($)itemlawsuit	Mar. 31, 2021USD ($)lawsuit	Mar. 31, 2021USD ($)lawsuitfacility	Mar. 31, 2021USD ($)lawsuitdefendant	Mar. 31, 2021USD ($)lawsuitsubsidiary	Mar. 31, 2021USD ($)lawsuitperson	Mar. 31, 2021USD ($)companylawsuit	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Environmental Matters - Remediation
Loss contingencies
Accrued loss contingency reserve | $						$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000	$ 24,000,000
Environmental Matters - Remediation | Maximum
Loss contingencies
Number of years remediation payments expected to be paid for applicable sites						20 years
Environmental Matters - Other
Loss contingencies
Accrued loss contingency reserve | $						$ 0	0	0	0	0	0	0	0	0	0
Insurance receivables | $						$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000	$ 8,000,000
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 | item									70
Amount of PFOA in drinking water allowed per provisional health advisories in parts per trillion (superseded) | item									400
Amount of PFOS in drinking water allowed per provisional health advisories in parts per trillion (superseded) | item									200
Number of PFCs the EPA has required to have public water system suppliers monitor | item									6
Number compounds EPA asked for public comment on draft toxicity assessments for PFAS compounds, including PFBS | item									2
Number of guidance documents released by the EPA related to PFAS | item									2
Number of public water supplies the EPA reported results | item									4,920
Number of water supplies that reported above advisory level with PFOA | item									13
Number of water supplies that reported above advisory level with PFOS | item									46
Number of water supplies that reported above advisory level with both PFOA and PFOS under technical advisory issued by EPA in September 2016 | item									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 | item									1
Environmental Matters - Regulatory Activities | Massachusetts
Loss contingencies
Number of combined PFAS compounds detailed in published final regulations establishing a drinking water standard | item									6
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 | item									35
Amount of PFOS in drinking water allowed per Minnesota Department of Health in parts per trillion | item									27
Additional amounts of PFOS in drinking water allowed per Minnesota Department of Health in parts per trillion | item									15
Amount of PFHxS in drinking water allowed per Minnesota Department of Health in parts per trillion | item									47
Amount of PFBS in drinking water allowed per Minnesota Department of Health in parts per billion | item									2
Environmental Matters - Regulatory Activities | Vermont
Loss contingencies
Number of other perfluorinated compounds in drinking water standards | item									3
Environmental Matters - Litigation | U.S. District Court for the Northern District of Alabama
Loss contingencies
Number of plaintiffs | individual							55
Number of additional plaintiffs | individual							37
Number of plaintiffs dismissed | individual							5
Environmental Matters - Litigation | Alabama
Loss contingencies
Litigation settlement awarded | $			$ 35,000,000
Number of local water works for whom the water authority supplies water | item									5
Environmental Matters - Litigation | Alabama | Minimum
Loss contingencies
Number of plaintiffs | individual							200
Environmental Matters - Litigation | Decatur, Alabama
Loss contingencies
Number of closed municipal landfills | item									3
Number of putative class action and other lawsuits										2
Environmental Matters - Litigation | Minnesota
Loss contingencies
Litigation settlement awarded | $																		$ 897,000,000
Number of recommended options for utilizing the Water Quality and Sustainability Fund seeking public comment | item									3
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										2
Number of additional new claims filed										2
Number of additional defendants						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 | Michigan
Loss contingencies
Number of lawsuits filed										2
Environmental Matters - Litigation | Federal court of Michigan
Loss contingencies
Number of lawsuits filed										1
Environmental Matters - Litigation | State court in New York
Loss contingencies
Number of lawsuits filed										4
Environmental Matters - Litigation | State Court of Lawrence County, Alabama
Loss contingencies
Number of plaintiffs | individual							4,000
Environmental Matters - Litigation | New Hampshire
Loss contingencies
Number of lawsuits filed										2
Number of additional defendants						seven
Environmental Matters - Litigation | Vermont
Loss contingencies
Number of lawsuits filed										2
Number of additional defendants | defendant												10
Environmental Matters - Aqueous Film Forming Foam Litigation
Loss contingencies
Number of lawsuits filed										1,076
Number of putative class action and other lawsuits										26
Environmental Matters - Aqueous Film Forming Foam Litigation | U.S. Judicial Panel on Multidistrict Litigation (MDL)
Loss contingencies
Number of water supplier cases										10
Environmental Matters - Aqueous Film Forming Foam Litigation | Various state courts
Loss contingencies
Number of lawsuits filed										8
Number of lawsuits pending						5	5	5	5	5	5	5	5	5	5
Number of lawsuits served										6
Number of cases stayed										5
Environmental Matters - Aqueous Film Forming Foam Litigation | State court in Wisconsin
Loss contingencies
Number of subsidiaries of plaintiff | subsidiary													2
Environmental Matters - Aqueous Film Forming Foam Litigation | Federal court
Loss contingencies
Number of lawsuits pending						2	2	2	2	2	2	2	2	2	2
Environmental Matters - Other PFAS-related Environmental Litigation | U.S. District Court of New York State
Loss contingencies
Number of lawsuits filed										40
Number of additional new claims filed										4
Number of putative class action and other lawsuits										1
Environmental Matters - Other PFAS-related Environmental Litigation | U.S. District Court of Eastern District of New York
Loss contingencies
Number of lawsuits pending						12	12	12	12	12	12	12	12	12	12
Environmental Matters - Other PFAS-related Environmental Litigation | State court of California
Loss contingencies
Number of local water providers | facility											10
Environmental Matters - Other PFAS-related Environmental Litigation | Decatur, Alabama
Loss contingencies
Number of perfluorinated materials (FBSA and FBSEE) the company cannot release into "the waters of the United States." | item									2
Environmental Matters - Other PFAS-related Environmental Litigation | Alabama and Georgia
Loss contingencies
Number of putative class action and other lawsuits										3
Environmental Matters - Other PFAS-related Environmental Litigation | Cities located downstream along the Coosa River
Loss contingencies
Number of putative class action and other lawsuits										3
Environmental Matters - Other PFAS-related Environmental Litigation | New Jersey
Loss contingencies
Number of lawsuits filed										2
Environmental Matters - Other PFAS-related Environmental Litigation | Near DuPont and Solvay Facilities
Loss contingencies
Number of lawsuits filed										3
Environmental Matters - Other PFAS-related Environmental Litigation | Michigan
Loss contingencies
Number of plaintiffs										277				1
Settlement amount paid | $	$ 55,000,000	$ 70,000,000
Number of claims with summary judgment										1
Number of federal bellwether cases with trial-ready dates set										3
Number of federal bellwether cases the court issued the first round of dispositive motion rulings										2
Total number of federal bellwether cases										5
Number of putative class action and other lawsuits										1
Number of companies involved in agreement | company															2
Environmental Matters - Other PFAS-related Environmental Litigation | Federal court
Loss contingencies
Number of putative class action and other lawsuits										2
Environmental Matters - Other PFAS-related Environmental Litigation | Delaware.
Loss contingencies
Number of putative class action and other lawsuits										1
Environmental Matters - Other Environmental Litigation
Loss contingencies
Accrued loss contingency reserve | $						$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000	$ 463,000,000
Increase (decrease) accrued loss contingency reserve | $								55,000,000
Litigation payments | $								$ 8,000,000
Charge for environmental resolutions | $																$ 214,000,000
Environmental Matters - Other Environmental Litigation | Alabama
Loss contingencies
Increase (decrease) accrued loss contingency reserve | $																	$ 235,000,000
Environmental Matters - Other Environmental Litigation | New Jersey
Loss contingencies
Approximate number of miles of a river seeking to be cleaned | item									8
The value the award the plaintiff seeks | $				$ 165,000,000
Number of chemicals of concern in the sediment | item									8
Number of commercial drum conditioning facilities | item									2
Number of landfills tested by the entity for environmental matters and litigation related to historical PFAS manufacturing operations | item									4
Environmental Matters - Other Environmental Litigation | New Jersey | Minimum
Loss contingencies
Number of unnamed defendant | defendant												120

Commitments and Contingencies_3

Commitments and Contingencies - Product Liability (Details)	3 Months Ended
	Mar. 31, 2021USD ($)lawsuitperson
Product Liability - Bair Hugger
Product Liability Litigation
Number of lawsuits filed	26
Number of plaintiffs | person	27
Accrued loss contingency reserve | $	$ 0
Product Liability - Bair Hugger | United States
Product Liability Litigation
Number of lawsuits filed	26
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 | person	5,000
Product Liability - Bair Hugger | Multi-district litigation (MDL)
Product Liability Litigation
Number of lawsuits filed	23
Number of cases stayed	23
Product Liability - Bair Hugger | State court
Product Liability Litigation
Number of lawsuits filed	3
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	3,349
Number of putative class action and other lawsuits	14
Number of plaintiffs | person	12,700
Accrued loss contingency reserve | $	$ 0
Product Liability - Dual-Ended Combat Arms Earplugs | Multi-district litigation (MDL)
Product Liability Litigation
Number of additional new claims filed	20
Number of plaintiffs | person	3
Number of additional plaintiffs | person	2
Product Liability - Dual-Ended Combat Arms Earplugs | U.S. Court of Appeals for the Eighth Circuit
Product Liability Litigation
Number of lawsuits filed	40
Number of plaintiffs | person	800

Commitments and Contingencies_4

Commitments and Contingencies - Stockholder Litigation (Details)	3 Months Ended
	Mar. 31, 2021lawsuit
State court in Minnesota | Securities Litigation
Loss contingencies
Number of derivative lawsuits filed	2

Commitments and Contingencies_5

Commitments and Contingencies - Federal False Claims Act / Qui Tam Litigation (Details) - Federal False Claims Act / Qui Tam Litigation	3 Months Ended
	Mar. 31, 2021personlawsuit
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, 2021ageshares
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	10,700,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Amounts recognized in the financial statements
Stock-based compensation programs expense	$ 131	$ 120
Income tax benefits	(51)	(39)
Stock-based compensation expenses (benefits), net of tax	80	81
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	84	73
Research, development and related expenses
Amounts recognized in the financial statements
Stock-based compensation programs expense	$ 25	$ 25

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share- based compensation assumptions
Weighted average exercise price	$ 175.04
Risk-free interest rate (as a percent)	0.80%
Dividend yield (as a percent)	2.80%
Expected volatility (as a percent)	22.60%
Expected life	83 months
Black-Scholes fair value	$ 25.33
Stock Options
Stock Option Program
Balance at the beginning of the period	35,401
Granted - Annual	3,612
Exercised	(2,323)
Forfeited	(104)
Balance at the end of the period	36,586
Options exercisable	28,819
Weighted average exercise price - Beginning balance	$ 156.23
Weighted average exercise price - Granted - Annual	175.04
Weighted average exercise price - Exercised	104.16
Weighted average exercise price - Forfeited	174.71
Weighted average exercise price - Ending balance	161.34
Options exercisable, exercise price	$ 158.58
Weighted average remaining contractual life for options outstanding	68 months
Weighted average remaining contractual life for options exercisable	57 months
Aggregate intrinsic value for options outstanding	$ 1,299
Aggregate intrinsic value for options exercisable	$ 1,126
Expiration of annual grants	10 years
Compensation expense yet to be recognized	$ 93
Expense recognition period	25 months
Total intrinsic value of stock options exercised	$ 180	$ 98
Cash received from options exercised	240	100
Tax benefit realized from exercise of stock options	$ 38	$ 20
Stock Options | Maximum
Stock Option Program
Vesting period	3 years
Stock Options | Minimum
Stock Option Program
Vesting period	1 year

Stock-Based Compensation - RSU,

Stock-Based Compensation - RSU, RS, Performance Shares (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted Stock and Restricted Stock Units
Unit and Shares Activity:
Number of Shares - Nonvested - Beginning balance	1,722,000
Number of Shares - Granted - Annual	721,000
Number of Shares - Vested	(433,000)
Number of Shares - Forfeited	(33,000)
Number of Shares - Nonvested - Ending balance	1,977,000
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	$ 189.78
Weighted Average Grant Date Fair Value - Granted - Annual	175.09
Weighted Average Grant Date Fair Value - Vested	232.62
Weighted Average Grant Date Fair Value - Forfeited	173.54
Weighted Average Grant Date Fair Value - Nonvested - Ending balance	$ 175.31
Compensation expense yet to be recognized	$ 141
Expense recognition period	27 months
Fair value that vested	$ 78	$ 88
Tax benefit realized from vesting	$ 14	16
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	423,000
Number of Shares - Granted - Annual	163,000
Number of Shares - Distributed	(115,000)
Number of Shares - Performance Change	17,000
Number of Shares - Forfeited	(4,000)
Number of Shares - Nonvested - Ending balance	484,000
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	$ 188.61
Weighted Average Grant Date Fair Value - Granted - Annual	$ 176.41
Weighted Average Grant Date Fair Value - Distributed	228.80
Weighted Average Grant Date Fair Value - Performance Change	$ 178.43
Weighted Average Grant Date Fair Value - Forfeited	172.92
Weighted Average Grant Date Fair Value - Nonvested - Ending balance	$ 174.75
Compensation expense yet to be recognized	$ 40
Expense recognition period	21 months
Fair value that vested	$ 22	35
Tax benefit realized from vesting	$ 4	$ 7
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)	3 Months Ended
	Mar. 31, 2021segment
Business Segments
Number of business segments	4

Business Segments - Business Se

Business Segments - Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Segment Information
Net sales	$ 8,851	$ 8,075
Operating Income	1,994	1,663
Gain/(loss) on sale of businesses		2
Total operating expenses	6,857	6,412
Other expense (income), net	49	75
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	1,945	1,588
Safety and Industrial
Business Segment Information
Net sales	3,327	2,927
Operating Income	811	694
Transportation and Electronics
Business Segment Information
Net sales	2,531	2,239
Operating Income	591	464
Health Care
Business Segment Information
Net sales	2,248	2,104
Operating Income	509	452
Consumer
Business Segment Information
Net sales	1,373	1,250
Operating Income	289	265
Business Segments.
Business Segment Information
Operating Income	2,041	1,762
Corporate and Unallocated
Business Segment Information
Net sales	(2)
Significant litigation-related (charges)/benefits		(17)
Gain/(loss) on sale of businesses		2
Other corporate expense - net	(47)	(84)
Total operating expenses	(47)	(99)
Elimination of Dual Credit
Business Segment Information
Net sales	(626)	(445)
Operating Income	$ (159)	$ (113)