3M COMMM
3M CO Segments Disclosure
Note 20. Business Segments and Geographic Information
3M’s businesses are organized, managed and internally grouped into segments based on differences in markets, products, technologies and services. 3M manages its continuing operations in three business segments: Safety and Industrial; Transportation and Electronics; and Consumer. 3M’s three business segments bring together common or related 3M technologies, enhancing the development of innovative products and services and providing for efficient sharing of business resources. On April 1, 2024, 3M completed the previously announced separation of its Health Care business as a separate public company, Solventum (see Note 2 for additional information). 3M is an integrated enterprise characterized by substantial intersegment cooperation, cost allocations and inventory transfers. Therefore, management does not represent that these segments, if operated independently, would report the operating income information shown.
3M discloses business segment operating income as its measure of segment profit, reconciled to both total 3M operating income and income before taxes. Business segment operating income excludes certain expenses and income that are not allocated to business segments (as described below in “Corporate and Other”). Business segment disclosures consider information used by/provided to 3M's chief operating decision maker (CODM). For 3M, the CODM is the chief executive officer. The CODM uses business segment operating income to allocate resources to segments in the planning and forecasting process along with periodic ongoing reviews of results and overall market activity.
Business Segment Products
Business segment | Representative revenue-generating activities, products or services | |||||||
| Safety and Industrial | •Industrial abrasives and finishing for metalworking applications •Autobody repair solutions •Industrial specialty products such as personal hygiene products, masking, and packaging materials •Electrical products and materials for construction and maintenance, power distribution and electrical original equipment manufacturers (OEMs) •Structural adhesives and tapes •Respiratory, hearing, eye and fall protection solutions •Natural and color-coated mineral granules for shingles | |||||||
| Transportation and Electronics | •Advanced ceramic solutions •Attachment/bonding, films, sound and temperature management for vehicles •Premium large format graphic films for advertising and fleet signage •Reflective signage for highway, and vehicle safety •Light management films and electronics assembly solutions •Aerospace, industrial/commercial solutions •Chip packaging and interconnection solutions •Semiconductor production materials •Solutions for data centers | |||||||
| Consumer | •Cleaning products for the home •Consumer air quality products •Picture hanging accessories •Retail abrasives, paint accessories and safety products •Stationery and office products •Automotive appearance products •Consumer bandages, tapes, braces and supports Some seasonality impacts this business segment, for example back-to-school and holiday | |||||||
Business Segment Information
| Net sales (millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Safety and Industrial | $ | 11,384 | $ | 10,961 | $ | 10,956 | ||||||||||||||
| Transportation and Electronics | 8,272 | 8,380 | 8,501 | |||||||||||||||||
| Consumer | 4,920 | 4,931 | 5,026 | |||||||||||||||||
| Total reportable business segment net sales | 24,576 | 24,272 | 24,483 | |||||||||||||||||
| Corporate and Other | 372 | 303 | 127 | |||||||||||||||||
Total Company | $ | 24,948 | $ | 24,575 | $ | 24,610 | ||||||||||||||
| Significant segment expenses and operating performance (millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Safety and Industrial | ||||||||||||||||||||
| Cost of sales | $ | 6,172 | $ | 5,965 | $ | 6,137 | ||||||||||||||
| Selling, general and administrative expenses | 1,858 | 2,020 | 2,023 | |||||||||||||||||
| Research, development and related expenses | 518 | 485 | 472 | |||||||||||||||||
| Safety and Industrial operating income | 2,836 | 2,491 | 2,324 | |||||||||||||||||
| Transportation and Electronics | ||||||||||||||||||||
| Cost of sales | 5,270 | 5,106 | 5,524 | |||||||||||||||||
| Selling, general, administrative expenses | 1,080 | 1,236 | 1,207 | |||||||||||||||||
| Research, development and related expenses | 486 | 460 | 458 | |||||||||||||||||
| Transportation and Electronics operating income | 1,436 | 1,578 | 1,312 | |||||||||||||||||
| Consumer | ||||||||||||||||||||
| Cost of sales | 2,941 | 2,912 | 3,064 | |||||||||||||||||
| Selling, general and administrative expenses | 855 | 955 | 933 | |||||||||||||||||
| Research, development and related expenses | 128 | 132 | 125 | |||||||||||||||||
| Consumer operating income | 996 | 932 | 904 | |||||||||||||||||
| Total reportable business segment operating income | 5,268 | 5,001 | 4,540 | |||||||||||||||||
| Corporate and Other | ||||||||||||||||||||
| Corporate-level (expense) income | 75 | (114) | (485) | |||||||||||||||||
| Corporate special items: | ||||||||||||||||||||
| Net costs for significant litigation | (483) | (45) | (14,785) | |||||||||||||||||
| Divestiture costs | — | (20) | (13) | |||||||||||||||||
Gain (loss) on business divestitures | (162) | — | 36 | |||||||||||||||||
| Russia exit (charges) benefits | — | — | 18 | |||||||||||||||||
| Transformation costs | (69) | — | — | |||||||||||||||||
Total Corporate and Other | (639) | (179) | (15,229) | |||||||||||||||||
Total Company operating income | 4,629 | 4,822 | (10,689) | |||||||||||||||||
| Other expense/(income), net | 416 | 3 | 582 | |||||||||||||||||
| Income from continuing operations before income taxes | $ | 4,213 | $ | 4,819 | $ | (11,271) | ||||||||||||||
Depreciation and amortization (millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Safety and Industrial | $ | 569 | $ | 556 | $ | 530 | ||||||||||||||
| Transportation and Electronics | 572 | 458 | 537 | |||||||||||||||||
| Consumer | 155 | 157 | 160 | |||||||||||||||||
| Corporate and Other | 12 | 53 | 206 | |||||||||||||||||
| Total continuing operations | $ | 1,308 | $ | 1,224 | $ | 1,433 | ||||||||||||||
Capital expenditures (millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Safety and Industrial | $ | 347 | $ | 373 | $ | 285 | ||||||||||||||
| Transportation and Electronics | 300 | 468 | 723 | |||||||||||||||||
| Consumer | 61 | 80 | 105 | |||||||||||||||||
| Corporate and Other | 202 | 183 | 275 | |||||||||||||||||
| Total continuing operations | $ | 910 | $ | 1,104 | $ | 1,388 | ||||||||||||||
Assets (millions) | December 31, 2025 | December 31, 2024 | December 31, 2023 | |||||||||||||||||
| Business segment assets: | ||||||||||||||||||||
| Inventories | ||||||||||||||||||||
| Safety and Industrial | $ | 1,636 | $ | 1,509 | $ | 1,592 | ||||||||||||||
| Transportation and Electronics | 1,093 | 1,269 | 1,459 | |||||||||||||||||
| Consumer | 694 | 719 | 699 | |||||||||||||||||
| Total business segment assets | 3,423 | 3,497 | 3,750 | |||||||||||||||||
| All other current assets | 12,964 | 12,387 | ||||||||||||||||||
| Total non-current assets | 21,346 | 23,984 | ||||||||||||||||||
| Total assets | $ | 37,733 | $ | 39,868 | ||||||||||||||||
Beginning in 2025, "business segment assets" represent inventories, based on the extent of business segment information regularly provided to 3M's CODM. This impact is reflected in the table above for all periods presented.
Business segment depreciation reflected above is based on the underlying usage of assets and allocated depreciation.
Corporate and Other: Outside of 3M's reportable segments, 3M has Corporate and Other which is not a reportable business segment as it does not meet the segment reporting criteria. Because Corporate and Other includes a variety of miscellaneous items, it is subject to fluctuation on a quarterly and annual basis.
Corporate and Other operating income (loss) includes:
•Corporate-level (expense) income includes:
◦certain enterprise and governance activities resulting in unallocated corporate costs and other activity or costs that 3M may choose not to allocate directly to its business segments,
◦commercial activity with Solventum following its April 1, 2024 Separation and certain operations of the former Health Care business segment retained by 3M,
◦transition arrangement agreements (e.g., fees charged by 3M, net of underlying costs) related to divested businesses, including those related to the Solventum Separation,
◦operations of businesses of the former Health Care segment divested prior to the Separation and therefore not reflected as discontinued operations within 3M's financial statements, along with limited-duration supply agreements with previous divestitures, and
◦costs previously allocated to Solventum prior to the Separation that were not eligible to be part of discontinued operations.
•Corporate special items include, for the periods presented:
◦net costs for significant litigation impacting operating income (loss) associated with PFAS-related other environmental and Combat Arms Earplugs matters,
◦gain (loss) on business divestitures (see Note 4),
◦divestiture costs (related to separating and divesting substantially an entire business segment of 3M following public announcement of its intended divestiture) that were not eligible to be part of discontinued operations, and
◦transformation program restructuring (see Note 6) and related charges.
Geographic Information: Geographic area information is used by the Company as a secondary performance measure to manage its businesses. Export sales and certain income and expense items are generally reported within the geographic area where the final sales to 3M customers are made. Refer to Note 3 for geographic net sales.
Net PP&E by geographic area (millions) | December 31, 2025 | December 31, 2024 | ||||||||||||
| Americas | $ | 5,123 | $ | 5,284 | ||||||||||
| Asia Pacific | 1,010 | 1,053 | ||||||||||||
| Europe, Middle East and Africa | 968 | 1,051 | ||||||||||||
Total Company | $ | 7,101 | $ | 7,388 | ||||||||||
Net PP&E by particular country (millions) | December 31, 2025 | December 31, 2024 | ||||||||||||
United States | $ | 4,769 | $ | 4,966 | ||||||||||
China/Hong Kong | 392 | 407 | ||||||||||||
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About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.