Analysis of Debt
Total Debt (Carrying Amount)
3M Co., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Debt item | Description | The company |
|---|---|---|
| Total debt and finance lease liabilities (carrying amount) | Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. | 3M Co. total debt decreased from 2019 to 2020 and from 2020 to 2021. |
Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term borrowings and current portion of long-term debt | 1,307) |
| Long-term debt, excluding current portion | 17,601) |
| Finance lease liabilities | 100) |
| Total debt and finance lease liabilities (fair value) | 19,008) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 1.09 |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt and finance lease liabilities: 2.70%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.80% | 16,053) | 449) | |
| 1.43% | 1,294) | 19) | |
| 4.10% | 16) | 1) | |
| 3.30% | 100) | 3) | |
| Total | 17,463) | 472) | |
| 2.70% | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 472 ÷ 17,463 = 2.70%