3M Co (MMM) 10K Annual Reports & 10Q SEC Filings

“The fourth quarter capped a strong year for 3M,” said 3M chairman and CEO Mike Roman. “Throughout 2023, we executed our priorities and delivered on our commitments – including expanding underlying operating margins and cash flow. We initiated actions to restructure our organization and simplify our supply chain, while progressing our Health Care spin and addressing legal matters.”

“Our team remains focused on further improving our operational performance, optimizing our portfolio, and reducing risk,” Roman continued. “We will continue to invest in high-growth markets where 3M’s unique capabilities can make a difference, including automotive electrification, climate technology, and industrial automation. I am confident we will deliver a successful 2024.”

Fourth-Quarter Highlights:


	Q4 2023			Q4 2022
GAAP earnings per share	$	1.70		$	0.98
Special items:
Net costs for significant litigation	0.36			0.07
Other special items, net	0.36			1.13
Adjusted earnings per share (EPS)	$	2.42		$	2.18

Memo:
GAAP operating income margin	15.5		%	7.8		%
Adjusted operating income margin1	20.9		%	19.1		%
1Above adjusted operating income margin for Q4 2023 includes a 1.4 percentage point headwind from restructuring related net charges.

•GAAP earnings per share of $1.70 and operating margin of 15.5%.

•Adjusted EPS of $2.42 includes pre-tax restructuring related net charges of $109 million, or negative $0.17 per share.

◦Adjusted EPS up 11 percent year-on-year.

•Adjusted operating income margin of 20.9% includes a 1.4 percentage point headwind from restructuring related net charges.

◦Adjusted operating income margin expanded 1.8 percentage points year-on-year.


	GAAP	Adjusted (Non-GAAP)
Net sales (Millions)	$8,013	$7,693
Sales change
Total sales	(0.8)%	(0.3)%
Components of sales change:
Organic sales2	(1.9)%	(1.4)%
Acquisitions/divestitures	0.2%	0.2%
Translation	0.9%	0.9%
Adjusted sales excludes manufactured PFAS products.
2Above adjusted organic sales decline includes a 60 basis point headwind from the decline in disposable respirator demand.

•Sales of $8.0 billion, down 0.8 percent year-on-year, with organic sales decline of 1.9 percent year-on-year.

•Adjusted sales of $7.7 billion, down 0.3 percent year-on-year with adjusted organic sales decline of 1.4 percent year-on-year.

The following information was filed by 3M Co (MMM) on Tuesday, January 23, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

3M Co provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.14: Material Contract

Exhibit 10.15: Material Contract

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 24: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 95: Ex-95

Exhibit 97: Ex-97

Ticker: MMM
CIK: 66740
Form Type: 10-K Annual Report
Accession Number: 0000066740-24-000016
Submitted to the SEC: Wed Feb 07 2024 9:25:16 AM EST
Accepted by the SEC: Wed Feb 07 2024
Period: Sunday, December 31, 2023
Industry: Surgical And Medical Instruments And Apparatus