Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

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, 2024	4,469		1,496		258		58		6,281
Translation and other	104		35		13		—		152
Balance as of June 30, 2025	$	4,573	$	1,531	$	271	$	58	$	6,433

The amounts in the “Translation and other” row in the above table primarily relate to changes in foreign currency exchange rates.

As of June 30, 2025, the Company's accumulated goodwill impairment loss is $0.3 billion.

Acquired Intangible Assets: The carrying amount and accumulated amortization of acquired finite-lived intangible assets, in addition to the balance of non-amortizable intangible assets follow:

(Millions)	June 30, 2025		December 31, 2024
Customer related	$	1,354	$	1,319
Patents	208		207
Other technology-based	379		371
Definite-lived tradenames	482		487
Other	47		47
Total gross carrying amount	2,470		2,431
Accumulated amortization — customer related	(999)		(935)
Accumulated amortization — patents	(208)		(207)
Accumulated amortization — other technology-based	(343)		(328)
Accumulated amortization — definite-lived tradenames	(307)		(300)
Accumulated amortization — other	(30)		(30)
Total accumulated amortization	(1,887)		(1,800)
Total finite-lived intangible assets — net	583		631
Indefinite lived intangible assets (primarily tradenames)	579		579
Total intangible assets — net	$	1,162	$	1,210

Certain tradenames acquired by 3M are not amortized because they have been in existence for over 60 years, have a history of leading-market share positions, have been and are intended to be continuously renewed, and the associated products of which are expected to generate cash flows for 3M for an indefinite period of time.

Amortization expense follows:

	Three months ended June 30,				Six months ended June 30,
(Millions)	2025		2024		2025		2024
Amortization expense	$	26	$	27	$	52	$	54

Expected amortization expense for acquired amortizable intangible assets recorded as of June 30, 2025 follows:

(Millions)	Remainder of 2025		2026		2027		2028		2029		2030		After 2030
Amortization expense	$	52	$	105	$	85	$	59	$	57	$	57	$	168

3M expenses the costs incurred to renew or extend the term of intangible assets.