v3.26.1
Fair Value Measurements and Marketable Securities (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table provides information by level for material assets and liabilities that are measured at fair value on a recurring basis at March 31, 2026 and December 31, 2025.
Fair value atFair value measurements using inputs considered as
Level 1Level 2Level 3
(Millions)March 31,
2026
December 31,
2025
March 31,
2026
December 31,
2025
March 31,
2026
December 31,
2025
March 31,
2026
December 31,
2025
Assets:
Available-for-sale marketable securities:
Marketable securities:
Corporate debt$234 $302 $ $— $234 $302 $ $— 
Commercial paper54 191  — 54 191  — 
U.S. government and treasury securities8 53 8 53  —  — 
Asset backed securities and certificates of/time deposits119 148  — 119 148  — 
U.S. municipal securities16 16  —  — 16 16 
Total marketable securities431 710 8 53 407 641 16 16 
Solventum common stock (a)
1,670 2,026 1,670 2,026  —  — 
Derivative instruments — assets:
Foreign currency forward/option contracts and cross-currency swaps232 192  — 232 192  — 
Liabilities:
Derivative instruments — liabilities:
Foreign currency forward/option contracts and cross-currency swaps 297 330  — 297 330  — 
(a)     Solventum common stock is reflected within other current assets on 3M's Consolidated Balance Sheet as of March 31, 2026 and December 31, 2025.
Schedule of Marketable Securities by Contractual Maturity
The balances at March 31, 2026 for marketable securities by contractual maturity are shown below. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
(Millions) 
Due in one year or less $310 
Due after one year through five years 121 
Total marketable securities $431 
Schedule of Fair Value, by Balance Sheet Grouping Information with respect to the carrying amounts and estimated fair values of these financial instruments follow:
March 31, 2026December 31, 2025
(Millions)Carrying value
Fair value
Carrying value
Fair value
Long-term debt, excluding current portion$10,906 $9,716 $10,932 $9,889