v3.22.4
Supplemental Equity and Comprehensive Income Information
 12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Supplemental Equity and Comprehensive Income Information Supplemental Equity and Comprehensive Income Information
Common stock ($.01 par value per share) of 3 billion shares is authorized, with 944,033,056 shares issued as of December 31, 2022, 2021 and 2020. Preferred stock, without par value, of 10 million shares is authorized but unissued.
Cash dividends declared and paid totaled $1.49, $1.48, and $1.47 per share for each quarter in 2022, 2021 and 2020, respectively, which resulted in total year declared and paid dividends of $5.96, $5.92, and $5.88 per share, respectively.
Dividend to noncontrolling interest in 2022 of $29 million related to dividend paid by 3M India Limited, of which 3M’s effective ownership is 75 percent.
Changes in Accumulated Other Comprehensive Income (Loss) Attributable to 3M by Component
(Millions)Cumulative Translation AdjustmentDefined Benefit Pension and Postretirement Plans AdjustmentCash Flow Hedging Instruments, Unrealized Gain (Loss)Total Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2019, net of tax:$(1,899)$(6,204)$(31)$(8,134)
Other comprehensive income (loss), before tax:
Amounts before reclassifications387 (582)(113)(308)
Amounts reclassified out— 619 (71)548 
Total other comprehensive income (loss), before tax387 37 (184)240 
Tax effect62 69 42 173 
Total other comprehensive income (loss), net of tax449 106 (142)413 
Balance at December 31, 2020, net of tax:(1,450)(6,098)(173)(7,721)
Other comprehensive income (loss), before tax:
Amounts before reclassifications(428)1,223 108 903 
Amounts reclassified out— 658 47 705 
Total other comprehensive income (loss), before tax(428)1,881 155 1,608 
Tax effect(65)(536)(36)(637)
Total other comprehensive income (loss), net of tax(493)1,345 119 971 
Balance at December 31, 2021, net of tax:$(1,943)$(4,753)$(54)$(6,750)
Other comprehensive income (loss), before tax:
Amounts before reclassifications(850)866 159 175 
Amounts reclassified out— 458 (98)360 
Total other comprehensive income (loss), before tax(850)1,324 61 535 
Tax effect(35)(409)(14)(458)
Total other comprehensive income (loss), net of tax(885)915 47 77 
Balance at December 31, 2022, net of tax:$(2,828)$(3,838)$(7)$(6,673)
Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries, but tax effects within cumulative translation do include impacts from items such as net investment hedge transactions. Reclassification adjustments are made to avoid double counting in comprehensive income items that are subsequently recorded as part of net income.
Reclassifications out of Accumulated Other Comprehensive Income Attributable to 3M
Details about Accumulated Other Comprehensive Income ComponentsAmount Reclassified from Accumulated Other Comprehensive IncomeLocation on Income Statement
Year ended December 31,
(Millions)202220212020
Defined benefit pension and postretirement plans adjustments
Gains (losses) associated with defined benefit pension and postretirement plans amortization
Transition asset$(2)$(2)$(2)Other (expense) income, net
Prior service benefit55 60 62 Other (expense) income, net
Net actuarial loss(493)(689)(659)Other (expense) income, net
Curtailments/Settlements(18)(27)(20)Other (expense) income, net
Total before tax(458)(658)(619)
Tax effect108 160 148 Provision for income taxes
Net of tax(350)(498)(471)
Cash flow hedging instruments gains (losses)
Foreign currency forward/option contracts107 (38)80 Cost of sales
Interest rate contracts(9)(9)(9)Interest expense
Total before tax98 (47)71 
Tax effect(23)11 (17)Provision for income taxes
Net of tax75 (36)54 
Total reclassifications for the period, net of tax$(275)$(534)$(417)