Restructuring Actions (Tables)

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
(Millions)	2024		2023		2024		2023
Cost of sales	$	19	$	2	$	23	$	61
Selling, general and administrative expenses	18		53		141		224
Research, development and related expenses	3		3		14		25
Total operating income impact	$	40	$	58	$	178	$	310

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

	Three months ended September 30,
	2024						2023
(Millions)	Employee Related		Asset-Related and Other		Total		Employee Related		Asset-Related and Other		Total
Safety and Industrial	$	15	$	3	$	18	$	10	$	—	$	10
Transportation and Electronics	8		1		9		9		—		9
Consumer	4		9		13		3		—		3
Corporate and unallocated	—		—		—		4		32		36
Total operating expense	$	27	$	13	$	40	$	26	$	32	$	58
	Nine months ended September 30,
	2024						2023
(Millions)	Employee Related		Asset-Related and Other		Total		Employee Related		Asset-Related and Other		Total
Safety and Industrial	$	54	$	28	$	82	$	64	$	—	$	64
Transportation and Electronics	24		19		43		46		—		46
Consumer	13		20		33		19		—		19
Corporate and unallocated	6		14		20		129		52		181
Total operating expense	$	97	$	81	$	178	$	258	$	52	$	310

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
Incremental expense incurred in the third quarter of 2024	27		13		40
Non-cash changes	—		(81)		(81)
Adjustments	9		—		9
Cash payments	(124)		—		(124)
Accrued restructuring action balance as of September 30, 2024	$	81	$	—	$	81

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
Incremental expense incurred in the third quarter of 2024	7
Adjustments	(5)
Cash payments	(33)
Accrued restructuring action balance as of September 30, 2024	$	41