3M CO New Standards Disclosure
Standards issued and not yet adopted | |||||||||||
| Standard | Relevant description | Effective date for 3M | Impact and other matters | ||||||||
ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses | Issued in November 2024. Requires new disclosures providing further detail of a company's income statement expense line items. | Year-end December 31, 2027 | As this ASU relates to disclosures only, there will be no impact to 3M’s consolidated results of operations and financial condition. | ||||||||
ASU No. 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets | Issued in July 2025. Provides an optional practical expedient for estimating future credit losses based on current conditions as of the balance sheet date and assuming those conditions do not change over the remaining life of the accounts receivable. | January 1, 2026 | 3M does not expect this ASU to have a material impact on consolidated results of operations and financial condition. | ||||||||
ASU No. 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software | Issued in September 2025. Removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs in an agile environment. | January 1, 2028 | 3M is currently evaluating this ASU's impact on consolidated results of operations and financial condition. | ||||||||
ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements | Issued in November 2025. Improves alignment of hedge accounting with risk management activities and provides guidance regarding five specific hedge accounting issues. | January 1, 2027 | 3M does not expect this ASU to have a material impact on consolidated results of operations and financial condition. | ||||||||
ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities | Issued in December 2025. Provides recognition, measurement, and presentation guidance, as well as additional disclosure requirements, for government grants. | January 1, 2029 | 3M is currently evaluating this ASU's impact on consolidated results of operations and financial condition. | ||||||||
ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements | Issued in December 2025. Clarifies the applicability of interim reporting guidance, the types of interim reporting, and the required form and content of interim financial statements. | January 1, 2028 | As this ASU relates to disclosures only, there will be no impact to 3M’s consolidated results of operations and financial condition. | ||||||||
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About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.