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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income (loss) including noncontrolling interest [1] $ 2,084 $ (5,855)
Adjustments to reconcile net income (loss) including noncontrolling interest to net cash provided by operating activities    
Depreciation and amortization [1] 731 915
Company pension and postretirement contributions [1] (86) (57)
Company pension and postretirement expense [1] 898 75
Stock-based compensation expense [1] 200 176
Deferred income taxes [1] 115 (2,547)
Changes in assets and liabilities    
Accounts receivable [1] (219) (393)
Inventories [1] (270) 101
Accounts payable [1] 166 135
Accrued income taxes (current and long-term) [1] (172) (409)
Other — net [1] (1,659) 10,643
Net cash provided by (used in) operating activities [1] 1,788 2,784
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (PP&E) [1] (644) (852)
Proceeds from sale of PP&E and other assets [1] 53 23
Purchases of marketable securities and investments [1] (943) (775)
Proceeds from maturities and sale of marketable securities and investments [1] 707 945
Other — net [1] (29) 40
Net cash provided by (used in) investing activities [1] (856) (619)
Cash Flows from Financing Activities    
Change in short-term debt — net [1] (205) 651
Repayment of debt (maturities greater than 90 days) [1] (2,653) (1,802)
Proceeds from debt (maturities greater than 90 days) [1] 8,367 1,107
Purchases of treasury stock [1] (421) (29)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans [1] 30 218
Dividends paid to shareholders [1] (1,221) (1,655)
Cash transferred to Solventum related to separation, net [1] (577) 0
Other — net [1] (57) (9)
Net cash provided by (used in) financing activities [1] 3,263 (1,519)
Effect of exchange rate changes on cash and cash equivalents [1] (45) (43)
Net increase (decrease) in cash and cash equivalents [1] 4,150 603
Cash and cash equivalents at beginning of year [1] 5,933 3,655
Cash and cash equivalents at end of period [1] $ 10,083 $ 4,258
[1] The Consolidated Statements of Cash Flows include the results of continuing and discontinued operations and, therefore, also include cash and cash equivalents associated with Solventum through its April 2024 separation from 3M that were presented in current assets of discontinued operations in the 3M Consolidated Balance Sheet.