Financial Analysis

"Note 17. Commitments and Contingencies Legal Proceedings: The Company and some of its subsidiaries are involved in numerous claims and lawsuits and regulatory proceedings worldwide. These claims, lawsuits and proceedings relate to matters including, but not limited to, commercial; products liability (involving products that the Company now or formerly manufactured and sold); securities and corporate governance; antitrust and competition; intellectual property; environmental, health and safety; tax; employment and employee benefits; the Foreign Corrupt Practices Act (FCPA) and other anti-bribery and anti-corruption laws; international import and export requirements and trade sanctions compliance; laws and regulations that apply to industries served by the Company, including the False Claims Act, anti-kickback laws, and the Sunshine Act; and other matters. Unless otherwise stated, the Company is vigorously defending all such litigation and proceedings. From time to time, the Company also receives subpoenas, investigative demands or requests for information from various government agencies in the United States and foreign countries. The Company generally responds 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 requests can also lead to the assertion of claims or the commencement of administrative, civil, or criminal legal proceedings against the Company and o …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 12. Long-Term Debt and Short-Term Borrowings The following debt tables reflect effective interest rates, which include the impact of interest rate swaps, as of December 31, 2025. All debt outlined in the table below is unsecured. Carrying value includes the impact of debt issuance costs and fair value hedging activity. Long-term debt and short-term borrowings as of December 31 consisted of the following: Long-Term Debt: Principal amount Weighted-average interest rate Final maturity date Carrying value (Millions) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 USD denominated fixed-rate debt $ 10,500 $ 10,400 3.76 % 3.33 % 2026-2050 $ 10,355 $ 10,317 USD denominated floating-rate debt 200 1,014 3.77 6.94 2027-2044 199 915 EUR denominated fixed-rate debt 1,751 1,751 1.73 1.60 2026-2031 2,048 1,812 Total long-term debt 12,602 13,044 Less: current portion of long-term debt 1,670 1,919 Long-term debt (excluding current portion) $ 10,932 $ 11,125 During 2025, 3M terminated swaps that had converted $800 million principal portion of fixed rate notes to floating-rate debt for a portion of their terms. For December 31, 2024, as those swaps were in place, 3M reflected the carrying value of the $800 million portion as USD denominated floating-rate date in the table above. Short-Term Borrowings and Current Portion of Long-Term Debt: Effective interest rate Carrying value (Millions) December 31, 2025 December 31, 2024 Current …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods: Net sales (millions) 2025 2024 2023 Abrasives $ 1,340 $ 1,295 $ 1,327 Automotive Aftermarket 1,178 1,235 1,237 Electrical Markets 1,394 1,274 1,259 Industrial Adhesives and Tapes 2,266 2,104 2,051 Industrial Specialties Division 1,172 1,161 1,206 Personal Safety 3,544 3,371 3,382 Roofing Granules 490 521 494 Total Safety and Industrial Business segment 11,384 10,961 10,956 Advanced Materials 858 969 1,167 Automotive and Aerospace 1,901 1,912 1,925 Commercial Branding and Transportation 2,602 2,528 2,546 Electronics 2,911 2,971 2,863 Total Transportation and Electronics Business segment 8,272 8,380 8,501 Consumer Safety and Well-Being 1,108 1,080 1,096 Home and Auto Care 1,200 1,191 1,260 Home Improvement 1,486 1,486 1,448 Packaging and Expression 1,126 1,174 1,222 Total Consumer Business segment 4,920 4,931 5,026 Corporate and Other 372 303 127 Total Company $ 24,948 $ 24,575 $ 24,610 Net sales by geographic area (millions) 2025 2024 2023 Americas $ 13,579 $ 13,405 $ 13,268 Asia Pacific 7,095 6,994 7,068 Europe, Middle East and Africa 4,274 4,176 4,274 Worldwide $ 24,948 $ 24,575 $ 24,610 Net sales by particular country (millions) 2025 2024 2023 United States $ 10,936 $ 10,788 $ 10,607 China/Hong Kong 2,951 2,824 2,625

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Note 19. Stock-Based Compensation At the May 2021 Annual Meeting, the shareholders approved the Amended and Restated 3M Company 2016 Long-Term Incentive Plan (LTIP), which included an increase of 27 million in the number of shares available for issuance. 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 December 31, 2025, the remaining shares available for grant under the LTIP are 21 million and there were approximately 6,400 participants with outstanding options, restricted stock, or restricted stock units. The Companys annual stock option and restricted stock unit grant is typically 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 31 percent of the annual grant stock-based compensation expense; therefore, higher stock-based compensation expense is typically recognized in t …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 16. Fair Value Measurements Assets and Liabilities that are Measured at Fair Value on a Recurring Basis: For 3M, assets and liabilities that are measured at fair value on a recurring basis primarily relate to available-for-sale marketable securities, Solventum common stock and derivative instruments. The information in the following paragraphs and tables primarily addresses matters relative to these financial assets and liabilities. Separately, there were no material fair value measurements with respect to nonfinancial assets or liabilities that are recognized or disclosed at fair value in the Companys financial statements on a recurring basis for 2025 and 2024. 3M uses various valuation techniques, which are primarily based upon the market and income approaches, with respect to financial assets and liabilities. Following is a description of the valuation methodologies used for the respective financial assets and liabilities measured at fair value. Available-for-sale marketable securities except certain U.S. municipal securities: Marketable securities, except certain U.S. municipal securities, are valued utilizing multiple sources. A weighted average price is used for these securities. Market prices are obtained for these securities from a variety of industry standard data providers, security master files from large financial institutions, and other third-party sources. These multiple prices are used as inputs into a distribution-curve-based algorithm to determine the da …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 5. Goodwill and Intangible Assets Goodwill: The change in the carrying amount of goodwill by business segment was as follows: (Millions) Safety and Industrial Transportation and Electronics Consumer Corporate and Other Total Company Balance as of December 31, 2023 $ 4,542 $ 1,512 $ 270 $ 58 $ 6,382 Translation and other (a) (73) (16) (12) (101) Balance as of December 31, 2024 4,469 1,496 258 58 6,281 Translation and other (a) 102 29 7 138 Balance as of December 31, 2025 $ 4,571 $ 1,525 $ 265 $ 58 $ 6,419 (a) The amounts in the Translation and other primarily relate to changes in foreign currency exchange rates. As of December 31, 2025, the Company's accumulated goodwill impairment loss is $0.3 billion. The Company completed its annual goodwill impairment test for all reporting units in the fourth quarter of 2025 and determined that no impairment existed. Acquired Intangible Assets: The carrying amount and accumulated amortization of the Company's acquired finite-lived intangible assets, along with their original useful lives, and the balances of non-amortizable intangible assets, are presented below: Estimated weighted average useful life December 31, 2025 December 31, 2024 (Millions) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Finite-lived intangible assets Customer related 14 years $ 1,239 $ (925) $ 1,319 $ (935) Patents and technology 9 years 573 (544) 578 (535) Definite-lived tr …

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Note 9. Income Taxes Income (loss) from continuing operations before income taxes consisted of the following: (Millions) 2025 2024 2023 United States $ 1,870 $ 2,300 $ (13,272) International 2,343 2,519 2,001 Total $ 4,213 $ 4,819 $ (11,271) Provision (benefit) for income taxes consisted of the following: (Millions) 2025 2024 2023 Current Federal $ (11) $ (75) $ 302 State (1) (6) 38 International 597 583 494 Deferred Federal 307 328 (3,084) State 21 1 (495) International 90 (27) (122) Total $ 1,003 $ 804 $ (2,867) Cash income tax payments, net of refunds, consisted of the following: (Millions) 2025 2024 2023 Federal $ 211 State 28 International 561 China 134 India 44 Korea 44 Other international 339 Total $ 800 $ 852 $ 1,384 The 2017 Tax Cuts and Jobs Act (TCJA) involved a transition tax that is payable over eight years beginning in 2018. As of December 31, 2024, 3M reflected $211 million payable within one year associated with the transition tax. The Company made the final payment in 2025. A reconciliation of the U.S. federal statutory income tax rate to 3M's worldwide effective income tax rate is provided below: 2025 (Millions) Amount Percent U.S. federal statutory tax rate $ 885 21.0 % State and local income taxes, net of federal income tax effect (a) 26 0.6 Foreign tax effects 212 5.0 Effect of cross-border tax laws Global intangible low-taxed income (net of foreign tax credits) 100 2.4 Other (71) (1.7) Tax credits (44) (1.0) Changes in valuation allowances (87) (2.1) Non …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 18. Leases 3M's lease arrangements include both operating and finance leases. Amounts associated with finance leases (such as right-of-use assets, liabilities, costs, cash flow information, and maturities) were not material to the consolidated financial statements. Finance lease right-of-use assets are included in property, plant, and equipment, net, and finance lease liabilities are included in other current liabilities and other liabilities on the consolidated balance sheets. The following table summarizes the components of operating lease cost: (Millions) 2025 2024 2023 Operating lease cost $ 203 $ 210 $ 259 Variable lease cost 105 114 103 Total operating lease cost $ 308 $ 324 $ 362 Short-term lease cost and income related to sub-lease activity is immaterial for the Company. Supplemental balance sheet, lease term and discount rate information related to operating leases is as follows: (Millions unless noted) Location on face of balance sheet December 31, 2025 December 31, 2024 Right of use assets Other assets $ 516 $ 565 Current liability Other current liabilities 167 163 Noncurrent liability Other liabilities 363 405 Weighted average remaining lease term (in years) 4.9 5.3 Weighted average discount rate 3.5 % 3.5 % As previously noted, the consolidated statements of cash flows include the results of continuing and discontinued operations. Supplemental cash flow information related to operating lease is as follows: (Millions) 2025 2024 2023 Cash paid for amounts incl …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

New Accounting Pronouncements: In December 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU primarily requires disaggregated annual information about a company's effective tax rate reconciliation and income taxes paid. 3M adopted this ASU prospectively beginning with 2025 and the additional disclosure is included in Note 9. The table below provides summaries of applicable new accounting pronouncements issued, but not yet adopted by 3M. Standards issued and not yet adopted Standard Relevant description Effective date for 3M Impact and other matters ASU No. 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses Issued in November 2024. Requires new disclosures providing further detail of a company's income statement expense line items. Year-end December 31, 2027 As this ASU relates to disclosures only, there will be no impact to 3Ms consolidated results of operations and financial condition. ASU No. 2025-05, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets Issued in July 2025. Provides an optional practical expedient for estimating future credit losses based on current conditions as of the balance sheet date and assuming those conditions do not change over the remaining life of the accounts receivable. Janua …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Note 13. Pension and Postretirement Benefit Plans 3M has company-sponsored retirement plans covering substantially all U.S. employees and many employees outside the United States. In total, 3M has over 70 defined benefit plans in 27 countries. Pension benefits associated with these plans generally are based on each participants years of service, compensation, and age at retirement or termination. The primary U.S. defined-benefit pension plan was closed to new participants effective January 1, 2009. In December 2023, the Company committed to the future freeze of U.S. defined benefit pension benefits for non-union U.S. employees, effective December 31, 2028 . The Company also provides certain postretirement health care and life insurance benefits for its U.S. employees who reach retirement age while employed by the Company and were employed by the Company prior to January 1, 2016. Most international employees and retirees are covered by government health care programs. The cost of company-provided postretirement health care plans for international employees is not material and is combined with U.S. amounts in the tables that follow. The Company has made deposits for its defined benefit plans with independent trustees. Trust funds and deposits with insurance companies are maintained to provide pension benefits to plan participants and their beneficiaries. There are no plan assets in the non-qualified plan due to its nature. For its U.S. postretirement health care benefit plan, …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 6. Restructuring Actions Transformation Costs: 3M began a transformation program in 2025 intended as a structural redesign of longer-term manufacturing, distribution, and business process services and locations. Management approved and committed to undertake related initial restructuring actions. Associated pre-tax restructuring charges in 2025 were $51 million, reflected in Corporate and Other (see Note 20) and primarily impacting selling, general and administrative expenses and cost of sales. Employee-related charges were $35 million and asset-related and other charges were $16 million. The balance of accrued restructuring liability as of December 31, 2025 was $25 million. Additional actions are expected and are subject to management's future approval and commitment. 2023 to 2025 Structural Reorganization Actions: In 2023, 3M announced it would undertake structural reorganization actions to reduce the size of the corporate center of the Company, simplify the supply chain, streamline 3Ms geographic footprint, reduce layers of management, further align business go-to-market models to customers, and reduce manufacturing roles to align with production volumes. Beginning in the first quarter of 2023 and ending largely in the second quarter of 2025, management approved and committed to undertake associated actions that impacted approximately seven thousand positions worldwide (as updated to exclude discontinued operations) resulting in pre-tax charges as indicated in the tab …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Note 3. Revenue Disaggregated Revenue Information: The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods: Net sales (millions) 2025 2024 2023 Abrasives $ 1,340 $ 1,295 $ 1,327 Automotive Aftermarket 1,178 1,235 1,237 Electrical Markets 1,394 1,274 1,259 Industrial Adhesives and Tapes 2,266 2,104 2,051 Industrial Specialties Division 1,172 1,161 1,206 Personal Safety 3,544 3,371 3,382 Roofing Granules 490 521 494 Total Safety and Industrial Business segment 11,384 10,961 10,956 Advanced Materials 858 969 1,167 Automotive and Aerospace 1,901 1,912 1,925 Commercial Branding and Transportation 2,602 2,528 2,546 Electronics 2,911 2,971 2,863 Total Transportation and Electronics Business segment 8,272 8,380 8,501 Consumer Safety and Well-Being 1,108 1,080 1,096 Home and Auto Care 1,200 1,191 1,260 Home Improvement 1,486 1,486 1,448 Packaging and Expression 1,126 1,174 1,222 Total Consumer Business segment 4,920 4,931 5,026 Corporate and Other 372 303 127 Total Company $ 24,948 $ 24,575 $ 24,610 Net sales by geographic area (millions) 2025 2024 2023 Americas $ 13,579 $ 13,405 $ 13,268 Asia Pacific 7,095 6,994 7,068 Europe, Middle East and Africa 4,274 4,176 4,274 Worldwide $ 24,948 $ 24,575 $ 24,610 Net sales by particular country (millions) 2025 2024 2023 United States $ 10,936 $ 10,788 $ 10,607 China/Hong Kong 2,951 2,824 2,625

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"Note 20. Business Segments and Geographic Information 3Ms businesses are organized, managed and internally grouped into segments based on differences in markets, products, technologies and services. 3M manages its continuing operations in three business segments: Safety and Industrial; Transportation and Electronics; and Consumer. 3Ms three 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. On April 1, 2024, 3M completed the previously announced separation of its Health Care business as a separate public company, Solventum (see Note 2 for additional information). 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, reconciled to both total 3M operating income and income before taxes. Business segment operating income excludes certain expenses and income that are not allocated to business segments (as described below in Corporate and Other). Business segment disclosures consider information used by/provided to 3M's chief operating decision maker (CODM). For 3M, the CODM is the chief executive officer. The CODM uses business segment operating income …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Note 1. Significant Accounting Policies Nature of Operations and Basis of Presentation: 3M is a diversified global manufacturer, technology innovator and marketer of a wide variety of products. As used herein, the term 3M or Company refers to 3M Company and subsidiaries unless the context indicates otherwise. The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (""U.S. GAAP""). Preparation of the consolidated financial statements requires management to make estimates and assumptions that affect amounts reported in the consolidated financial statements and notes. Such estimates and assumptions are subject to inherent uncertainties which may result in actual amounts differing from these estimates. The financial statements consolidate all applicable subsidiaries; intercompany transactions and balances are eliminated. With the exception of subsidiaries operating in highly inflationary economies, which are not material to 3M, local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at month-end exchange rates of the period reported. Income and expense items are translated at average monthly currency exchange rates in effect during the period. Cumulative translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in shareh …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Note 8. Supplemental Equity and Comprehensive Income Information Common stock ($.01 par value per share) of 3 billion shares is authorized. Preferred stock, without par value, of 10 million shares is authorized but unissued. Supplemental share information is provided below. Treasury stock summary (shares) 2025 2024 2023 Balance at beginning of year 404,562,753 391,451,920 394,787,951 Reacquired stock 21,856,544 14,954,620 290,379 Issuances pursuant to stock options and benefit plans (12,665,372) (1,843,787) (3,626,410) Balance at end of year 413,753,925 404,562,753 391,451,920 The table below presents the changes in accumulated other comprehensive income (loss) attributable to 3M (AOCI), including the reclassifications out of AOCI by component: (Millions) Cumulative translation adjustment Defined benefit pension and postretirement plans adjustment Cash flow hedging instruments, unrealized gain (loss) (a) Total accumulated other comprehensive income (loss) Balance at December 31, 2022, net of tax: $ (2,828) $ (3,838) $ (7) $ (6,673) Other comprehensive income (loss), before tax: Amounts before reclassifications 277 (763) 81 (405) Amounts reclassified out 54 252 (143) 163 Total other comprehensive income (loss), before tax 331 (511) (62) (242) Tax effect (b) (9) 131 15 137 Total other comprehensive income (loss), net of tax 322 (380) (47) (105) Balance at December 31, 2023, net of tax: $ (2,506) $ (4,218) $ (54) $ (6,778) Other comprehensive income (loss), before tax: Amounts b …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

"Note 15. Commitments and Contingencies Introduction This Note is organized to: provide background on the Company's legal proceedings and the processes for disclosing and recording related liabilities; present the Company's legal proceedings and contingencies, including any liabilities recorded by the Company, by category: environmental matters, non-environmental product matters, and other matters; and describe insurance recoveries related to the disclosed legal proceedings and contingencies. Legal Proceedings Background of the Company's Legal Proceedings The Company and certain of its subsidiaries are involved in numerous claims, legal proceedings, and investigations worldwide. These matters may include, among others, commercial disputes; products liability (involving products that the Company now or formerly manufactured and sold); securities and corporate governance; antitrust and competition; intellectual property; environmental, health and safety; tax; employment and employee benefits; consumer protection; the Foreign Corrupt Practices Act (""FCPA"") and other anti-bribery and anti-corruption laws; international trade and sanctions compliance; laws and regulations applicable to industries served by the Company, including the False Claims Act, and anti-kickback laws; and other matters. Unless otherwise stated, the Company is vigorously defending these matters. From time to time, the Company receives subpoenas, investigative demands, or requests for information from, and s …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 11. Long-Term Debt and Short-Term Borrowings 2025 issuances, maturities, and extinguishments of short- and long-term debt are described in Note 12 to the Consolidated Financial Statements in 3M's 2025 Annual Report on Form 10-K. Changes in future maturities of long-term debt since December 31, 2025 were not material. The Company had no commercial paper outstanding at June 30, 2026 and December 31, 2025. In April 2026, 3M and a subsidiary entered into a $1.43 billion unsecured term loan facility and a $200 million revolving credit facility, each with a variable rate and a 364-day term, replacing a facility established in March 2026. Both facilities were undrawn as of June 30, 2026. In July 2026, the subsidiary drew $1.43 billion under the term loan facility in connection with the acquisition of Madison and venture formation described in Note 3. The facilities may be extended, at the borrower's request, for up to 12 months from the closing date of that transaction.

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The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods: Three months ended June 30, Six months ended June 30, Net sales (millions) 2026 2025 2026 2025 Abrasives $ 342 $ 338 $ 691 $ 655 Automotive Aftermarket 283 291 587 581 Electrical Markets 391 349 747 674 Industrial Adhesives and Tapes 642 568 1,246 1,111 Industrial Specialties Division 326 294 612 582 Personal Safety 965 882 1,877 1,732 Roofing Granules 142 135 261 267 Total Safety and Industrial Business segment 3,091 2,857 6,021 5,602 Advanced Materials 162 148 309 291 Automotive and Aerospace 485 474 969 949 Commercial Branding and Transportation 737 689 1,377 1,305 Electronics 682 633 1,259 1,215 Total Transportation and Electronics Business segment 2,066 1,944 3,914 3,760 Consumer Safety and Well-Being 289 280 567 554 Home and Auto Care 318 306 646 605 Home Improvement 362 374 673 700 Packaging and Expression 278 310 492 535 Total Consumer Business segment 1,247 1,270 2,378 2,394 Corporate 96 273 217 542 Total Company $ 6,500 $ 6,344 $ 12,530 $ 12,298 Three months ended June 30, Six months ended June 30, Net sales by geographic area (millions) 2026 2025 2026 2025 Americas $ 3,516 $ 3,482 $ 6,669 $ 6,689 Asia Pacific 1,870 1,782 3,653 3,504 Europe, Middle East and Africa 1,114 1,080 2,208 2,105 Worldwide $ 6,500 $ 6,344 $ 12,530 $ 12,298 Three months ended June 30, Six months ended June 30, Net sales by particul …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Note 14. Fair Value Measurements and Marketable Securities 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. Refer to Note 16 to the Consolidated Financial Statements in 3M's 2025 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 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 at Fair value measurements using inputs considered as Level 1 Level 2 Level 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 paper 37 191 37 191 U.S. government and treasury securities 5 53 5 53 Asset backed securities and certificates of/time deposits 128 148 128 148 U.S. municipal securities 16 16 16 16 Total marketable securities 387 710 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 c …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 4. Goodwill and Intangible Assets Goodwill: The change in the carrying amount of goodwill by business segment was as follows: (Millions) Safety and Industrial Transportation and Electronics Consumer Corporate Total Company Balance as of December 31, 2025 $ 4,571 $ 1,525 $ 265 $ 58 $ 6,419 Translation and other (a) (33) (8) (4) (45) Balance as of June 30, 2026 $ 4,538 $ 1,517 $ 261 $ 58 $ 6,374 (a) The amounts in the Translation and other primarily relate to changes in foreign currency exchange rates. As of June 30, 2026, the Company's accumulated goodwill impairment loss is $0.3 billion. Acquired Intangible Assets: The carrying amount and accumulated amortization of the Company's acquired finite-lived intangible assets and the balances of non-amortizable intangible assets are presented below: June 30, 2026 December 31, 2025 (Millions) Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Finite-lived intangible assets Customer related $ 1,244 $ (961) $ 1,239 $ (925) Patents and technology 545 (524) 573 (544) Definite-lived tradenames 482 (329) 482 (318) Other 48 (31) 47 (30) Total $ 2,319 $ (1,845) $ 474 $ 2,341 $ (1,817) $ 524 Indefinite lived intangible assets (b) 579 579 Total intangible assets net $ 1,053 $ 1,103 (b) Indefinite lived intangible assets primarily consists of certain tradenames acquired by 3M that are not amortized because they have existed for over 60 years, maintain leadin …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

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) 2026 2025 2026 2025 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, 2026 December 31, 2025 Deferred tax asset (net of valuation allowance) $ 3,586 $ 3,826 Deferred tax liability 412 418 Net deferred tax assets $ 3,174 $ 3,408

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New Accounting Pronouncements: Refer to Note 1 to the Consolidated Financial Statements in 3M's 2025 Annual Report on Form 10-K for a discussion of applicable standards issued and not yet adopted by 3M.

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Note 12. Pension and Postretirement Benefit Plans 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 and six months ended June 30, 2026 and 2025 follow: Qualified and non-qualified pension benefits Postretirement benefits United States International Three months ended June 30, Net periodic benefit cost (benefit) (millions) 2026 2025 2026 2025 2026 2025 Operating expense Service cost $ 25 $ 25 $ 9 $ 13 $ 5 $ 5 Non-operating expense Interest cost 100 109 50 46 16 19 Expected return on plan assets (144) (142) (74) (66) (13) (14) Amortization of prior service benefit (7) (3) Amortization of net actuarial loss 63 69 2 2 4 3 Total non-operating expense (benefit) 19 36 (22) (18) 5 Total net periodic benefit cost (benefit) $ 44 $ 61 $ (13) $ (5) $ 5 $ 10 Six months ended June 30, 2026 2025 2026 2025 2026 2025 Operating expense Service cost $ 49 $ 51 $ 20 $ 24 $ 9 $ 9 Non-operating expense Interest cost 200 217 100 92 32 38 Expected return on plan assets (288) (284) (147) (131) (27) (28) Amortization of prior service benefit 1 (14) (4) Amortization of net actuarial loss 127 138 4 4 8 8 Total non-operating expense (benefit) 39 71 (43) (34) (1) 14 Total net perio …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 5. Restructuring Actions Transformation Costs: In the third quarter of 2025, 3M began a transformation program intended as a structural redesign of longer-term manufacturing, distribution, and business process services and locations. In the second quarter and first six months of 2026, management approved and committed to additional actions resulting in a pre-tax charge of $74 million and $118 million, respectively, primarily employee related. Charges related to this initiative are reflected in Corporate (see Note 16) and primarily impacted selling, general and administrative expenses and cost of sales. The accrued restructuring liability was $25 million as of December 31, 2025 and $66 million as of June 30, 2026, reflecting new charges partially offset by cash payments. Additional actions are expected and are subject to management's future approval and commitment.

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Note 2. Revenue 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 June 30, Six months ended June 30, Net sales (millions) 2026 2025 2026 2025 Abrasives $ 342 $ 338 $ 691 $ 655 Automotive Aftermarket 283 291 587 581 Electrical Markets 391 349 747 674 Industrial Adhesives and Tapes 642 568 1,246 1,111 Industrial Specialties Division 326 294 612 582 Personal Safety 965 882 1,877 1,732 Roofing Granules 142 135 261 267 Total Safety and Industrial Business segment 3,091 2,857 6,021 5,602 Advanced Materials 162 148 309 291 Automotive and Aerospace 485 474 969 949 Commercial Branding and Transportation 737 689 1,377 1,305 Electronics 682 633 1,259 1,215 Total Transportation and Electronics Business segment 2,066 1,944 3,914 3,760 Consumer Safety and Well-Being 289 280 567 554 Home and Auto Care 318 306 646 605 Home Improvement 362 374 673 700 Packaging and Expression 278 310 492 535 Total Consumer Business segment 1,247 1,270 2,378 2,394 Corporate 96 273 217 542 Total Company $ 6,500 $ 6,344 $ 12,530 $ 12,298 Three months ended June 30, Six months ended June 30, Net sales by geographic area (millions) 2026 2025 2026 2025 Americas $ 3,516 $ 3,482 $ 6,669 $ 6,689 Asia Pacific 1,870 1,782 3,653 3,504 Europe, Middle East and Africa 1,114 1,080 2,208 2,105 Worldwide $ 6,500 $ 6,344 $ 12,530 $ 12,298 Three months ended June …

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"Note 16. Business Segments 3Ms businesses are organized and managed in three business segments: Safety and Industrial; Transportation and Electronics; and Consumer based on differences in markets, products, technologies and services. These segments bring together related 3M technologies, enhance innovation and provide efficient resource sharing. As an integrated enterprise, 3M has substantial intersegment cooperation, cost allocations and inventory transfers. Accordingly, 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, which is reconciled to both total 3M operating income and income before taxes. This measure excludes certain expenses and income not allocated to business segments (as described below in Corporate). Business segment disclosures consider information used by/provided to 3M's CODM, who is the chief executive officer. The CODM uses business segment operating income to allocate resources in the planning and forecasting process and in reviews of results and overall market activity. In the first and second quarters of 2026, the measure of segment operating performance and segment composition used by the CODM changed. As a result, 3Ms disclosed measure of segment profit and other segment-related amounts were updated to reflect these changes for all periods presented. The changes include the following items …

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"Note 1. Significant Accounting Policies Basis of Presentation: As used herein, the term 3M or Company includes 3M Company and its subsidiaries unless the context indicates otherwise. The interim consolidated financial statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair statement of the Companys 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 Companys consolidated financial statements and notes included in its 2025 Annual Report on Form 10-K. Certain amounts in prior periods consolidated financial statements have been reclassified to conform to current period presentation. Also, effective in the first and second quarters of 2026, the Company made changes to the measure of segment operating performance and segment composition used by its chief operating decision maker (""CODM""). These changes impacted the disclosed measure of segment profit and other segment-related amounts as further described in Note 16. 3M's disclosed disaggregated revenue was also updated as a result of these changes (see Note 2). Info …

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"Note 8. Supplemental Equity and Comprehensive Income Information Common stock ($.01 par value per share) of 3 billion shares is authorized. Preferred stock, without par value, of 10 million shares is authorized but unissued. Cash dividends declared and paid totaled $0.78 and $0.73 per share for the first and second quarters of 2026 and 2025, respectively, or $1.56 and $1.46 per share for the first six months of 2026 and 2025, respectively. The table below presents the consolidated changes in equity for the three and six months ended June 30, 2026 and 2025: 3M Company Shareholders Noncontrolling interest Total equity (Millions) Common stock and additional paid-in capital Retained earnings Treasury stock Accumulated other comprehensive income (loss) Balance at March 31, 2026 $ 7,509 $ 38,162 $ (37,309) $ (5,099) $ 48 $ 3,311 Net income 933 5 938 Other comprehensive income (loss), net of tax 46 46 Dividends declared (401) (401) Stock-based compensation 40 40 Reacquired stock (991) (991) Issuances pursuant to stock option and benefit plans (61) 123 62 Balance at June 30, 2026 $ 7,549 $ 38,633 $ (38,177) $ (5,053) $ 53 $ 3,005 Balance at March 31, 2025 $ 7,310 $ 37,432 $ (34,747) $ (5,531) $ 59 $ 4,523 Net income 723 2 725 Other comprehensive income (loss), net of tax 305 305 Solventum spin-off (14) 11 (3) Dividends declared (390) (390) Stock-based compensation 44 44 Reacquired stock (946) (946) Issuances pursuant to stock option and benefit plans (58) 151 93 Balance at June 30, …

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