Revenue

12 Months Ended

Dec. 31, 2020

Revenue

Revenue

NOTE 2. Revenue

Contract Balances:

Deferred revenue primarily relates to revenue that is recognized over time for one-year software license contracts. Refer to Note 7 for deferred revenue balances at December 31, 2019 and 2020. Approximately $410 million of the December 31, 2019 balance was recognized as revenue during the year ended December 31, 2020, while approximately $600 million of the December 31, 2018 balance was recognized as revenue during the year ended December 31, 2019.

Operating Lease Revenue:

Net sales includes rental revenue from durable medical devices as part of operating lease arrangements (reported within the Medical Solutions Division), which was $586 million for the year ended December 31, 2020. Applicable rental revenue for the years ended December 31, 2019 and 2018 was not material.

Disaggregated revenue information:

The Company views the following disaggregated disclosures as useful to understanding the composition of revenue recognized during the respective reporting periods:

	Year ended
	December 31,
Net Sales (Millions)	2020		2019		2018
Abrasives	$	1,180	$	1,387	$	1,512
Automotive Aftermarket		1,102		1,229		1,356
Closure and Masking Systems		993		1,111		1,224
Communication Markets		—		—		175
Electrical Markets		1,121		1,200		1,244
Industrial Adhesives and Tapes		2,562		2,689		2,841
Personal Safety		4,433		3,504		3,601
Roofing Granules		390		366		353
Other Safety and Industrial		(14)		28		108
Total Safety and Industrial Business Segment	$	11,767	$	11,514	$	12,414
Advanced Materials	$	1,036	$	1,245	$	1,236
Automotive and Aerospace		1,612		1,913		2,074
Commercial Solutions		1,529		1,785		1,863
Electronics		3,767		3,711		3,971
Transportation Safety		890		943		951
Other Transportation and Electronics		(7)		(6)		9
Total Transportation and Electronics Business Segment	$	8,827	$	9,591	$	10,104
Drug Delivery	$	146	$	372	$	407
Food Safety		342		341		328
Health Information Systems		1,140		1,177		837
Medical Solutions		4,787		3,439		3,073
Oral Care		1,076		1,321		1,353
Separation and Purification Sciences		853		791		817
Other Health Care		1		(10)		6
Total Health Care Business Group	$	8,345	$	7,431	$	6,821
Consumer Health Care	$	366	$	379	$	389
Home Care		1,066		991		1,013
Home Improvement		2,527		2,297		2,216
Stationery and Office		1,223		1,378		1,399
Other Consumer		154		106		110
Total Consumer Business Group	$	5,336	$	5,151	$	5,127
Corporate and Unallocated	$	(1)	$	110	$	50
Elimination of Dual Credit		(2,090)		(1,661)		(1,751)
Total Company	$	32,184	$	32,136	$	32,765

	Year ended December 31, 2020
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	6,177	$	2,805	$	2,791	$	(6)	$	11,767
Transportation and Electronics		2,455		5,097		1,282		(7)		8,827
Health Care		5,062		1,478		1,809		(4)		8,345
Consumer		3,832		939		567		(2)		5,336
Corporate and Unallocated		(1)		—		—		—		(1)
Elimination of Dual Credit		(1,000)		(750)		(340)		—		(2,090)
Total Company	$	16,525	$	9,569	$	6,109	$	(19)	$	32,184

	Year ended December 31, 2019
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	6,008	$	2,844	$	2,666	$	(4)	$	11,514
Transportation and Electronics		2,901		5,221		1,472		(3)		9,591
Health Care		4,200		1,490		1,743		(2)		7,431
Consumer		3,641		952		559		(1)		5,151
Corporate and Unallocated		109		—		1		—		110
Elimination of Dual Credit		(735)		(711)		(215)		—		(1,661)
Total Company	$	16,124	$	9,796	$	6,226	$	(10)	$	32,136

	Year ended December 31, 2018
Net Sales (Millions)	Americas		Asia Pacific		Europe, Middle East and Africa		Other Unallocated		Worldwide
Safety and Industrial	$	6,345	$	3,076	$	2,996	$	(3)	$	12,414
Transportation and Electronics		3,015		5,513		1,577		(1)		10,104
Health Care		3,636		1,453		1,733		(1)		6,821
Consumer		3,562		980		586		(1)		5,127
Corporate and Unallocated		51		—		—		(1)		50
Elimination of Dual Credit		(745)		(768)		(238)		—		(1,751)
Total Company	$	15,864	$	10,254	$	6,654	$	(7)	$	32,765

Americas included United States net sales to customers of $13.9 billion, $13.2 billion and $12.8 billion in 2020, 2019 and 2018, respectively. Asia Pacific included China/Hong Kong net sales to customers of $3.5 billion, $3.3 billion and $3.6 billion in 2020, 2019, and 2018, respectively.