Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2024

NOTE 10. Earnings (Loss) Per Share

The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is the result of the dilution associated with the Company’s stock-based compensation plans. Certain awards outstanding under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would have had an anti-dilutive effect of 33.1 million and 32.9 million average options for the three and six months ended June 30, 2024, respectively, and 36.9 million and 36.5 million average options for the three and six months ended June 30, 2023, respectively. In periods of net losses, these anti-dilutive effects include all weighted option shares outstanding and weighted average shares is the same for the calculations of both basic and diluted loss per share. The computations for basic and diluted earnings (loss) per share follow:


	Three months ended June 30,				Six months ended June 30,
(Amounts in millions, except per share amounts)	2024		2023		2024		2023
Numerator:
Net income (loss) from continuing operations attributable to 3M	$	1,204	$	(7,171)	$	1,909	$	(6,509)
Net income (loss) from discontinued operations, net of taxes	(59)		330		164		644
Net income (loss) attributable to 3M	$	1,145	$	(6,841)	$	2,073	$	(5,865)

Denominator:
Denominator for weighted average 3M common shares outstanding – basic	553.8		553.9		554.4		553.3
Dilution associated with stock-based compensation plans	1.0		—		0.9		—
Denominator for weighted average 3M common shares outstanding – diluted	554.8		553.9		555.3		553.3

Earnings (loss) per share attributable to 3M common shareholders:
Earnings (loss) per share from continuing operations — basic	$	2.17	$	(12.94)	$	3.44	$	(11.76)
Earnings (loss) per share from discontinued operations — basic	(0.10)		0.59		0.30		1.16
Earnings (loss) per share — basic	$	2.07	$	(12.35)	$	3.74	$	(10.60)

Earnings (loss) per share from continuing operations — diluted	$	2.17	$	(12.94)	$	3.44	$	(11.76)
Earnings (loss) per share from discontinued operations — diluted	(0.10)		0.59		0.29		1.16
Earnings (loss) per share — diluted	$	2.07	$	(12.35)	$	3.73	$	(10.60)