v3.26.1
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate 3M estimates that year-on-year foreign currency transaction effects impacted pre-tax income (loss) approximately as follows. These estimates include transaction gains and losses, including derivative instruments designed to reduce foreign currency exchange rate risks.
Three months ended June 30,Six months ended June 30,
(Millions)2026202520262025
Year-on-year change in pre-tax income (loss) from foreign currency transactions$(13)$(30)$(39)$(25)
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 %
Schedule of Net Deferred Tax Assets
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