v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes
Note 9. Income Taxes
The effective tax rates were as follows:
Three months ended June 30,Six months ended June 30,
(Percent of pre-tax income)2026202520262025
Effective tax rate 16.3 %26.6 %20.2 %22.1 %
The primary factors that decreased the Company's effective tax rate for the three months ended June 30, 2026, compared to the same period in 2025, were the tax impacts of 3M's retained ownership interest in Solventum and the tax impacts of net costs of significant litigation, partially offset by the loss on business divestiture.
The primary factors that decreased the Company's effective tax rate for the six months ended June 30, 2026, compared to the same period in 2025, were the increased tax benefits from stock-based compensation and the tax impacts of net costs of significant litigation, partially offset by the loss on business divestiture and the tax impacts of 3M's retained ownership interest in Solventum.
Net deferred tax assets (net of valuation allowance and deferred tax liabilities) are included as components of other assets and other liabilities within the Consolidated Balance Sheet. This net balance was comprised of the following:
(Millions)June 30, 2026December 31, 2025
Deferred tax asset (net of valuation allowance)$3,586$3,826
Deferred tax liability412418
Net deferred tax assets$3,174$3,408