3M 2023 10-K: Debt Obligations & Financial Health Detailed

TL;DR

**3M's 2023 10-K shows ongoing debt management and financial performance, critical for investors.**

AI Summary

3M Co. filed its 10-K on February 7, 2024, for the fiscal year ending December 31, 2023. The filing details the company's financial performance and position, including its revenues and liabilities. For instance, it references specific notes like the 1.500% Notes due 2026 and 1.750% Notes due 2030, indicating ongoing debt obligations. This matters to investors as it provides a comprehensive look at the company's financial health, debt structure, and overall operational results, which directly influence stock valuation and future dividend potential.

Why It Matters

This filing provides a crucial snapshot of 3M's financial performance and obligations for 2023, directly impacting investor confidence and future stock price movements.

Risk Assessment

Risk Level: medium — The presence of various long-term debt obligations, such as the 1.500% Notes due 2026 and 1.750% Notes due 2030, indicates financial commitments that could impact future liquidity and profitability.

Analyst Insight

Investors should review the detailed financial statements within the full 10-K to understand the specific impacts of revenues, liabilities, and debt obligations on 3M's overall financial health and future outlook, particularly regarding the maturity of notes like the 1.500% Notes due 2026.

Key Numbers

• 2023-12-31 — Conformed Period of Report (The fiscal year-end covered by this 10-K filing.)
• 2024-02-07 — Filed As Of Date (The date the 10-K was officially submitted to the SEC.)
• 156 — Public Document Count (The total number of documents included in this filing.)
• 0000066740 — Central Index Key (CIK) (The unique identifier for 3M CO with the SEC.)
• 001-03285 — SEC File Number (The specific file number for 3M CO's SEC filings.)

Key Players & Entities

• 3M CO (company) — the filer of the 10-K
• 0000066740 (company) — Central Index Key (CIK) for 3M CO
• December 31, 2023 (date) — the end of the fiscal year reported
• February 7, 2024 (date) — the date the 10-K was filed
• 1.500% Notes due 2026 (dollar_amount) — a specific debt obligation of 3M
• 1.750% Notes due 2030 (dollar_amount) — a specific debt obligation of 3M

Forward-Looking Statements

• 3M will continue to manage its long-term debt obligations, with a focus on the 1.500% Notes due 2026 as their maturity approaches. (3M CO) — high confidence, target: 2026-12-31

FAQ

From the Filing

0000066740-24-000016.txt : 20240207 0000066740-24-000016.hdr.sgml : 20240207 20240207092516 ACCESSION NUMBER: 0000066740-24-000016 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 156 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240207 DATE AS OF CHANGE: 20240207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 3M CO CENTRAL INDEX KEY: 0000066740 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 410417775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03285 FILM NUMBER: 24602421 BUSINESS ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 6517331474 MAIL ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST. PAUL STATE: MN ZIP: 55144-1000 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA MINING & MANUFACTURING CO DATE OF NAME CHANGE: 19920703 10-K 1 mmm-20231231.htm 10-K mmm-20231231 0000066740 FALSE 2023 FY P3Y http://fasb.org/us-gaap/2023#Revenues http://fasb.org/us-gaap/2023#Revenues http://fasb.org/us-gaap/2023#Revenues http://fasb.org/us-gaap/2023#GainLossOnSaleOfBusiness http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent P1Y P1Y http://fasb.org/us-gaap/2023#AccountsPayableCurrent http://fasb.org/us-gaap/2023#AccountsPayableCurrent http://fasb.org/us-gaap/2023#LongTermDebtNoncurrent http://fasb.org/us-gaap/2023#LongTermDebtNoncurrent P20Y P1Y P1Y 0000066740 2023-01-01 2023-12-31 0000066740 us-gaap:CommonStockMember exch:XCHI 2023-01-01 2023-12-31 0000066740 us-gaap:CommonStockMember exch:XNYS 2023-01-01 2023-12-31 0000066740 exch:XNYS mmm:Notes1500PercentDue2026Member 2023-01-01 2023-12-31 0000066740 mmm:Notes1750PercentDue2030Member exch:XNYS 2023-01-01 2023-12-31 0000066740 mmm:Notes1.500PercentDue2031Member exch:XNYS 2023-01-01 2023-12-31 0000066740 2023-06-30 iso4217:USD 0000066740 2024-01-31 xbrli:shares 0000066740 2022-01-01 2022-12-31 0000066740 2021-01-01 2021-12-31 iso4217:USD xbrli:shares 0000066740 2023-12-31 0000066740 2022-12-31 0000066740 2020-12-31 0000066740 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2020-12-31 0000066740 us-gaap:RetainedEarningsMember 2020-12-31 0000066740 us-gaap:TreasuryStockCommonMember 2020-12-31 0000066740 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0000066740 us-gaap:NoncontrollingInterestMember 2020-12-31 0000066740 us-gaap:RetainedEarningsMember 2021-01-01 2021-12-31 0000066740 us-gaap:NoncontrollingInterestMember 2021-01-01 2021-12-31 0000066740 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-12-31 0000066740 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2021-01-01 2021-12-31 0000066740 us-gaap:TreasuryStockCommonMember 2021-01-01 2021-12-31 0000066740 2021-12-31 0000066740 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2021-12-31 0000066740 us-gaap:RetainedEarningsMember 2021-12-31 0000066740 us-gaap:TreasuryStockCommonMember 2021-12-31 0000066740 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0000066740 us-gaap:NoncontrollingInterestMember 2021-12-31 0000066740 us-gaap:RetainedEarningsMember 2022-01-01 2022-12-31 0000066740 us-gaap:NoncontrollingInterestMember 2022-01-01 2022-12-31 0000066740 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-12-31 0000066740 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2022-01-01 2022-12-31 0000066740 us-gaap:TreasuryStockCommonMember 2022-01-01 2022-12-31 0000066740 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2022-12-31 0000066740 us-gaap:RetainedEarningsMember 2022-12-31 0000066740 us-gaap:TreasuryStockCommonMember 2022-12-31 0000066740 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0000066740 us-gaap:NoncontrollingInterestMember 2022-12-31 0000066740 us-gaap:RetainedEarningsMember