3M COMPANY (MMM) FY2024 Annual P&L / Income Statement

3M COMPANY (MMM) FY2024 Annual P&L / Income Statement

Income statement for 2024-01-01 through 2024-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Net sales

24,575,000,000 US dollars

Cost of sales

14,447,000,000 US dollars

Gross profit (calculated)

10,128,000,000 US dollars

Operating expenses (calculated)

5,306,000,000 US dollars

Operating income (loss)

4,822,000,000 US dollars

Other expense (income), net

negative 3,000,000 US dollars

Income (loss) from continuing operations before income taxes

4,819,000,000 US dollars

Provision (benefit) for income taxes

804,000,000 US dollars

Net income (loss) attributable to 3M

4,173,000,000 US dollars

Safety and Industrial

10,961,000,000 US dollars

Transportation and Electronics

8,380,000,000 US dollars

Consumer

4,931,000,000 US dollars

Research, development and related expenses

1,085,000,000 US dollars

Selling, general and administrative expenses

4,221,000,000 US dollars

Gain on business divestitures

0 US dollars

Goodwill impairment expense

0 US dollars

Revenue before reconciliation (calculated)

24,272,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation.

Corporate and Unallocated

271,000,000 US dollars. Reported reconciliation to consolidated revenue.

Other

32,000,000 US dollars. Reported reconciliation to consolidated revenue.

Net income (loss) from discontinued operations, net of taxes

164,000,000 US dollars. Reported below-tax contribution to net income.

Less: Net income (loss) attributable to noncontrolling interest

negative 15,000,000 US dollars. Reported below-tax contribution to net income.

Income (loss) from unconsolidated subsidiaries, net of taxes

9,000,000 US dollars. Reported below-tax contribution to net income.

Safety and Industrial costs (calculated)

8,470,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Transportation and Electronics costs (calculated)

6,802,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Consumer costs (calculated)

3,999,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Reconciling items (calculated)

482,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses.

Chart connections

• Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
• Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit, plus the explicitly reported below-tax contributions, equals net income.
• Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue.