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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Gain (Loss) on Derivative and Non-Derivative Instruments Designated as Net Investment Hedges The amounts of pre-tax gain (loss) recognized in other comprehensive income (loss) related to derivative and non-derivative instruments designated as net investment hedges are as follows.
Pretax gain (loss) recognized as cumulative translation within other comprehensive income (loss)
Three months ended March 31,
(Millions)20262025
Foreign currency denominated debt $49 $(72)
Foreign currency forward/option contracts and cross-currency swaps47 (43)
Total $96 $(115)
Schedule of Location, Fair Value, and Gross Notional Amounts of Derivative Instruments The following table summarizes the fair value of 3M’s derivative instruments, excluding non-derivative instruments used as hedging instruments, and their location in the consolidated balance sheet. Notional amounts below are presented at period end foreign exchange rates, except for certain interest rate swaps and foreign currency forward/option contracts, which are presented using the foreign exchange rate at inception.
Gross notional Amount
AssetsLiabilities
 (Millions)Location
Fair value amount
Location
Fair value amount
March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Derivatives designated as hedging instruments
Foreign currency forward/option contracts and cross-currency swaps
$3,438 $1,842 Other current assets$49 $23 Other current liabilities$36 $35 
Foreign currency forward/option contracts and cross-currency swaps11,152 8,194 Other assets169 161 Other liabilities244 289 
Total derivatives designated as hedging instruments 218 184 280 324 
Derivatives not designated as hedging instruments
Foreign currency forward/option contracts 2,603 2,188 Other current assets14 8 Other current liabilities17 6 
Total derivative instruments$232 $192 $297 $330 
Schedule of Offsetting Assets
Offsetting of Financial Assets under Master Netting Agreements with Derivative Counterparties
Gross Amount of Derivative Assets Presented in the Consolidated Balance SheetGross Amount of Eligible Offsetting Recognized Derivative LiabilitiesNet Amount of Derivative Assets
(Millions)March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Derivatives subject to master netting agreements$232 $192 $190 $175 $42 $17 
Schedule of Offsetting Liabilities
Offsetting of Financial Liabilities under Master Netting Agreements with Derivative Counterparties
(Millions)Gross Amount of Derivative Liabilities Presented in the Consolidated Balance SheetGross Amount of Eligible Offsetting Recognized Derivative AssetsNet Amount of Derivative Liabilities
March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Derivatives subject to master netting agreements$297 $330 $190 $175 $107 $155 
Schedule of Currency Effects
The effective tax rates were as follows:
Three months ended March 31,
(Percent of pre-tax income)20262025
Effective tax rate 25.2 %19.1 %
3M estimates that year-on-year foreign currency transaction effects, impacted pre-tax income (loss) approximately as follows. These estimates include transaction gains and losses, including derivative instruments designed to reduce foreign currency exchange rate risks.
Three months ended March 31,
(Millions)20262025
Year-on-year change in pre-tax income (loss) from foreign currency transactions
$(26)$5