Note 10. Earnings (Loss) Per Share
The computations for basic and diluted earnings per share follow:
(Amounts in millions, except per share amounts)202520242023
Numerator:
Net income (loss) from continuing operations attributable to 3M
$3,250 $4,009 $(8,402)
Net income from discontinued operations, net of taxes
 164 1,407 
Net income (loss) attributable to 3M
$3,250 $4,173 $(6,995)
Denominator:
Weighted average 3M common shares outstanding basic
537.4 550.8 553.9 
Dilution associated with stock-based compensation plans 3.9 1.6 — 
Weighted average 3M common shares outstanding diluted
541.3 552.4 553.9 
Earnings (loss) per share attributable to 3M common shareholders:
Earnings (loss) per share from continuing operations — basic
$6.05 $7.28 $(15.17)
Earnings per share from discontinued operations — basic
 0.30 2.54 
Earnings (loss) per share — basic
$6.05 $7.58 $(12.63)
Earnings (loss) per share from continuing operations — diluted
$6.00 $7.26 $(15.17)
Earnings per share from discontinued operations — diluted
 0.29 2.54 
Earnings (loss) per share — diluted
$6.00 $7.55 $(12.63)
The difference in the weighted average 3M shares outstanding for calculating basic and diluted earnings per share attributable to 3M common shareholders is the result of the dilution associated with the Company’s stock-based compensation plans. Certain awards outstanding below under these stock-based compensation plans were not included in the computation of diluted earnings per share attributable to 3M common shareholders because they would have had an anti-dilutive effect. In periods of net losses, these anti-dilutive effects include all weighted average awards outstanding and weighted average shares outstanding is the same for the calculations of both basic and diluted loss per share.
(Millions)
202520242023
Weighted average number of antidilutive shares
12.730.836.1
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About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.