Restructuring Actions (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The related restructuring charges for periods presented were recorded in the income (loss) statement as follows:

	Three months ended June 30,				Six months ended June 30,
(Millions)	2024		2023		2024		2023
Cost of sales	$	2	$	44	$	4	$	59
Selling, general and administrative expenses	32		140		123		171
Research, development and related expenses	1		18		11		22
Total operating income impact	$	35	$	202	$	138	$	252

The business segment operating income (loss) impact of these restructuring charges is summarized as follows:

	Three months ended June 30,
	2024						2023
(Millions)	Employee Related		Asset-Related and Other		Total		Employee Related		Asset-Related and Other		Total
Safety and Industrial	$	13	$	5	$	18	$	44	$	—	$	44
Transportation and Electronics	7		4		11		25		—		25
Consumer	4		2		6		13		—		13
Corporate and unallocated	—		—		—		100		20		120
Total operating expense	$	24	$	11	$	35	$	182	$	20	$	202
	Six months ended June 30,
	2024						2023
(Millions)	Employee Related		Asset-Related and Other		Total		Employee Related		Asset-Related and Other		Total
Safety and Industrial	$	39	$	25	$	64	$	54	$	—	$	54
Transportation and Electronics	16		18		34		37		—		37
Consumer	9		11		20		16		—		16
Corporate and unallocated	6		14		20		125		20		145
Total operating expense	$	70	$	68	$	138	$	232	$	20	$	252

Schedule of Restructuring Reserve by Type of Cost

Restructuring actions, including cash and non-cash impacts, follow:

(Millions)	Employee-Related		Asset-Related and Other		Total
Accrued restructuring action balance as of December 31, 2023	$	99	$	—	$	99
Incremental expense incurred in the first quarter of 2024	46		57		103
Incremental expense incurred in the second quarter of 2024	24		11		35
Non-cash changes	—		(68)		(68)
Adjustments	12		—		12
Cash payments	(92)		—		(92)
Accrued restructuring action balance as of June 30, 2024	$	89	$	—	$	89

The remaining period of activities related to these approved and committed actions aligns with 3M's PFAS exit timeframe.

(Millions)	Employee-Related
Accrued restructuring action balance as of December 31, 2023	$	60
Incremental expense incurred in the first quarter of 2024	4
Incremental expense incurred in the second quarter of 2024	8
Adjustments	(4)
Cash payments	(17)
Accrued restructuring action balance as of June 30, 2024	$	51