v3.26.1
Fair Value Measurements and Marketable Securities (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025.
Fair value atFair value measurements using inputs considered as
Level 1Level 2Level 3
(Millions)June 30,
2026
December 31,
2025
June 30,
2026
December 31,
2025
June 30,
2026
December 31,
2025
June 30,
2026
December 31,
2025
Assets:
Available-for-sale marketable securities:
Corporate debt$201 $302 $ $— $201 $302 $ $— 
Commercial paper37 191  — 37 191  — 
U.S. government and treasury securities5 53 5 53  —  — 
Asset backed securities and certificates of/time deposits128 148  — 128 148  — 
U.S. municipal securities16 16  —  — 16 16 
Total marketable securities387 710 5 53 366 641 16 16 
Solventum common stock (a)
1,973 2,026 1,973 2,026  —  — 
Derivative instruments(b)
233 192  — 233 192  — 
Liabilities:
Derivative instruments(c)
323 330  — 323 330  — 
(a)     Solventum common stock is reflected within other current assets on 3M's Consolidated Balance Sheet.
(b)    Derivative assets are reflected within other current assets or other assets on 3M's Consolidated Balance Sheet.
(c)     Derivative liabilities are reflected within other current liabilities or other liabilities on 3M's Consolidated Balance Sheet.
Schedule of Marketable Securities by Contractual Maturity
The balances at June 30, 2026 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) 
Due in one year or less $321 
Due after one year through five years 66 
Total marketable securities $387 
Schedule of Fair Value, by Balance Sheet Grouping Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:
June 30, 2026December 31, 2025
(Millions)Carrying value
Fair value
Carrying value
Fair value
Long-term debt, excluding current portion$10,904 $9,793 $10,932 $9,889