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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at June 30, 2025 and December 31, 2024.
Fair value at
Fair value measurements using inputs considered as
Level 1Level 2Level 3
(Millions)
June 30, 2025December 31, 2024June 30, 2025December 31, 2024June 30, 2025December 31, 2024June 30, 2025December 31, 2024
Description
Assets:
Available-for-sale marketable securities:
Asset backed securities
$26 $24 $— $— $26 $24 $— $— 
Foreign corporate debt
3 31 — — 3 31 — — 
U.S. government securities
117 138 117 138 — — — — 
Corporate debt securities237 819 — — 237 819 — — 
Commercial paper57 658 — — 57 658 — — 
Certificates of deposit/time deposits33 185 — — 33 185 — — 
U.S. treasury securities25 269 25 269 — — — — 
U.S. municipal securities20 20 — — — — 20 20 
Solventum common stock2,607 2,270 2,607 2,270 — — — — 
Derivative instruments — assets:
Foreign currency forward/option contracts and cross-currency swaps139 142 — — 139 142 — — 
Liabilities:
Derivative instruments — liabilities:
Foreign currency forward/option contracts and cross-currency swaps 339 84 — — 339 84 — — 
Interest rate contracts56 81 — — 56 81 — — 
Schedule of Fair Value, by Balance Sheet Grouping Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:
June 30, 2025December 31, 2024
(Millions)
Carrying value
Fair value
Carrying value
Fair value
Long-term debt, excluding current portion$12,477 $11,350 $11,125 $9,856