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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income including noncontrolling interest [1] $ 2,688 $ 3,460
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities    
Depreciation and amortization [1] 878 1,041
Company pension and postretirement contributions [1] (99) (116)
Company pension and postretirement expense [1] 198 953
Stock-based compensation expense [1] 182 242
Loss on business divestitures [1] 164 0
Deferred income taxes [1] 298 293
Changes in assets and liabilities    
Accounts receivable [1] (451) (87)
Inventories [1] (92) (172)
Accounts payable [1] 67 8
Accrued income taxes (current and long-term) [1] (125) (152)
Other — net [1] (2,985) (5,469)
Net cash provided by (used in) operating activities [1] 723 1
Cash flows from investing activities    
Purchases of property, plant and equipment (PP&E) [1] (662) (890)
Proceeds from sale of PP&E and other assets [1] 69 55
Purchases of marketable securities and investments [1] (839) (2,220)
Proceeds from maturities and sale of marketable securities and investments [1] 3,185 1,022
Proceeds from sale of businesses, net of cash sold [1] 5 0
Other — net [1] (3) (27)
Net cash provided by (used in) investing activities [1] 1,755 (2,060)
Cash flows from financing activities    
Change in short-term debt — net [1] 0 (205)
Repayment of debt (maturities greater than 90 days) [1] (1,804) (2,653)
Proceeds from debt (maturities greater than 90 days) [1] 1,099 8,367
Purchases of treasury stock [1] (2,699) (1,096)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans [1] 1,219 68
Dividends paid to shareholders [1] (1,175) (1,604)
Cash transferred to Solventum related to separation, net [1] 0 (616)
Other — net [1] (39) (83)
Net cash provided by (used in) financing activities [1] (3,399) 2,178
Effect of exchange rate changes on cash and cash equivalents [1] 36 (2)
Net increase (decrease) in cash and cash equivalents, including cash classified within assets held for sale [1] (885) 117
Less: net increase (decrease) in cash classified within assets held for sale 44 0
Net increase (decrease) in cash and cash equivalents [1] (929) 117
Cash and cash equivalents at beginning of year [1] 5,600 5,933
Cash and cash equivalents at end of period [1] $ 4,671 $ 6,050
[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.