3M is a diversified technology company with a global presence, operating in four business segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The company is among the leading manufacturers of products for many of the markets it serves. Most 3M products involve expertise in product development, manufacturing and marketing, and are subject to competition from products manufactured and sold by other technologically oriented companies. In July 2022, 3M announced its intention to spin off the Health Care business as a separate public company.

• Employees: Approximately 85,000 (full-time equivalents) as of December 31, 2023
• Geographic Footprint: Operates in 28 countries internationally and 28 states in the U.S.
• Headquarters: St. Paul, Minnesota
• Founded: 1902
• Number of locations/facilities: 60 manufacturing facilities in 28 states in the U.S. and 81 manufacturing and converting facilities in 28 countries internationally.
• Revenue: $32.7 billion (FY2023)
• Key Subsidiaries/Brands: 3M™ Cubitron™ II, Scotch-Brite™™, Scotch & Temflex, Scotchkote, Dynatel, Scotchcast, 3M™ VHB™, Scotch®, Scotchgard™, Thinsulate™, 3M™ Novec™, 3M™ Scotchlite™, 3M™ Scotchcal™, 3M™ Controltact™, 3M™ Diamond Grade™, 3M™ 360 Encompass™, 3M™ Tegaderm™, V.A.C.®, 3M™ Filtek™, 3M™ RelyX™, 3M™ Clarity™, ACE™, FUTURO™, Nexcare™, Filtrete™, Command™, Post-it®

• CEO: Michael F. Roman (since 2019)
• CFO: Monish Patolawala (since 2023)
• Chief Technology Officer and Environmental Responsibility: John P. Banovetz (since 2023)
• Board Chair: Michael F. Roman (since 2019)
• Other Key Executives: Karina Chavez (Group President, Consumer), Torie Clarke (Executive Vice President and Chief Public Affairs Officer), Zoe Dickson (Executive Vice President and Chief Human Resources Officer), Peter D. Gibbons (Group President, Enterprise Operations), Chris Goralski (Group President, Safety & Industrial), Bryan Hanson (Chief Executive Officer, Healthcare), Mark Murphy (Executive Vice President, Chief Information and Digital Officer), Kevin H. Rhodes (Executive Vice President, Chief Legal Affairs Officer)

Key leaders have extensive experience in their respective fields, with some having served in their current roles for several years.

• Annual Revenue: $32.7 billion (FY2023)
• Net Income: $(6.995) billion (FY2023)
• Total Assets: $50.6 billion (as of December 31, 2023)
• Number of Employees: Approximately 85,000 (full-time equivalents) as of December 31, 2023
• Key Financial Highlights: 3M experienced a net loss in FY2023, with significant litigation costs impacting the results. The company is undergoing restructuring and business transformation initiatives to improve efficiency and profitability.

3M offers a wide array of products and services across its four business segments:

• Safety and Industrial: Abrasives, automotive aftermarket products, closure and masking systems, electrical products, industrial adhesives and tapes, personal safety equipment, and roofing granules.
• Transportation and Electronics: Advanced materials, automotive and aerospace products, commercial solutions, display materials and systems, electronic materials solutions, and transportation safety products.
• Health Care: Health information systems, medical solutions, oral care, separation and purification sciences, and food safety (divested in 2022) products.
• Consumer: Construction and home improvement products, home, health and auto care products, stationery and office supplies.

3M operates through four main business segments:

• Safety and Industrial: Provides products for personal safety, industrial manufacturing, and other related markets.
• Transportation and Electronics: Offers solutions for transportation, electronics, and display markets.
• Health Care: Focuses on medical, oral care, and health information systems.
• Consumer: Provides products for home improvement, consumer safety, and office supplies.

The company has updated its segment reporting structure in the first quarter of 2023, impacting the measure of segment profit/loss and the alignment of the Consumer business segment.

3M's current strategic priorities include:

• Focusing on growth, productivity, and sustainability.
• Streamlining operations and reducing the size of the corporate center.
• Improving supply chain efficiency and aligning business models to customer needs.
• Investing in key growth areas and new product development.
• Spinning off the Health Care business to create two independent public companies.
• Exiting all PFAS manufacturing by the end of 2025 and working to discontinue the use of PFAS across its product portfolio by the end of 2025.

The company is undergoing significant transformation to enhance its long-term performance and shareholder value.

3M operates in diverse industries, including manufacturing, technology, healthcare, and consumer goods.

• Market Position: 3M is a leading manufacturer in many of the markets it serves.
• Key Competitors: 3M faces competition from other technology-oriented companies in its various markets.
• Industry Trends: 3M is affected by global economic conditions, technological advancements, regulatory changes, and shifts in consumer preferences. The company is also addressing the increasing regulation of PFAS and is working to discontinue the use of PFAS across its product portfolio.

• Global Economic and External Risks: The company's results are impacted by worldwide economic, political, regulatory, international trade, geopolitical, and other external conditions, including military conflicts and climate change.
• Legal and Regulatory Risks: The company faces liabilities related to certain fluorochemicals (PFAS), which could adversely impact its results. The company is also subject to risks related to international, federal, state, and local treaties, laws, and regulations, as well as compliance risks related to legal or regulatory requirements.
• Product and Customer Preference Risks: The company's results are affected by competitive conditions and customer preferences, as well as the timing and market acceptance of its new product offerings.
• Operational Risks: The company's future results are subject to vulnerability with respect to materials and fluctuations in the costs and availability of purchased components, compounds, raw materials, energy, and labor due to shortages, increased demand and wages, logistics, supply chain interruptions, manufacturing site disruptions, regulatory developments, natural disasters, and other disruptive factors. The company is also subject to risks related to its operational execution, including through organizational restructurings.
• Financial and Capital Market Risks: The company's defined benefit pension and postretirement plans are subject to financial market risks that could adversely impact its results. Changes in the company's credit ratings or increases in benchmark interest rates could increase cost of funding.