Adjusted Financial Ratios (Summary)
Adjusted Total Asset Turnover
Adjusted Current Ratio
Adjusted Debt to Equity
Adjusted Debt to Capital
Adjusted Financial Leverage
Adjusted Net Profit Margin
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

3M Co., adjusted financial ratios

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Activity Ratio
Total Asset Turnover
Reported	0.75	0.68	0.72	0.90	0.83
Adjusted	0.76	0.69	0.72	0.88	0.82
Liquidity Ratio
Current Ratio
Reported	1.70	1.89	1.41	1.89	1.86
Adjusted	1.83	2.04	1.49	2.08	2.00
Solvency Ratios
Debt to Equity
Reported	1.16	1.47	2.03	1.50	1.21
Adjusted	1.16	1.49	1.99	1.48	1.24
Debt to Capital
Reported	0.54	0.60	0.67	0.60	0.55
Adjusted	0.54	0.60	0.67	0.60	0.55
Financial Leverage
Reported	3.13	3.68	4.44	3.73	3.29
Adjusted	2.95	3.51	4.14	3.50	3.18
Profitability Ratios
Net Profit Margin
Reported	16.75%	16.73%	14.22%	16.33%	15.35%
Adjusted	18.79%	18.17%	12.35%	16.83%	17.16%
Return on Equity (ROE)
Reported	39.35%	41.84%	45.41%	54.60%	42.01%
Adjusted	42.02%	44.05%	36.83%	51.95%	44.75%
Return on Assets (ROA)
Reported	12.58%	11.37%	10.23%	14.65%	12.79%
Adjusted	14.25%	12.55%	8.91%	14.86%	14.05%

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).

3M Co., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net sales	35,355)	32,184)	32,136)	32,765)	31,657)
Total assets	47,072)	47,344)	44,659)	36,500)	37,987)
Activity Ratio
Total asset turnover¹	0.75	0.68	0.72	0.90	0.83
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net sales²	35,386)	32,252)	31,949)	32,869)	31,641)
Adjusted total assets³	46,680)	46,706)	44,299)	37,230)	38,648)
Activity Ratio
Adjusted total asset turnover⁴	0.76	0.69	0.72	0.88	0.82

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).

¹ 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 35,355 ÷ 47,072 = 0.75

² Adjusted net sales. See details »

³ Adjusted total assets. See details »

⁴ 2021 Calculation
Adjusted total asset turnover = Adjusted net sales ÷ Adjusted total assets
= 35,386 ÷ 46,680 = 0.76

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Current assets	15,403)	14,982)	12,971)	13,709)	14,277)
Current liabilities	9,035)	7,948)	9,222)	7,244)	7,687)
Liquidity Ratio
Current ratio¹	1.70	1.89	1.41	1.89	1.86
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets²	15,592)	15,215)	13,132)	13,804)	14,380)
Adjusted current liabilities³	8,506)	7,450)	8,792)	6,627)	7,174)
Liquidity Ratio
Adjusted current ratio⁴	1.83	2.04	1.49	2.08	2.00

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).

¹ 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 15,403 ÷ 9,035 = 1.70

² Adjusted current assets. See details »

³ Adjusted current liabilities. See details »

⁴ 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 15,592 ÷ 8,506 = 1.83

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt	17,463)	18,910)	20,445)	14,714)	14,022)
Total 3M Company shareholders’ equity	15,046)	12,867)	10,063)	9,796)	11,563)
Solvency Ratio
Debt to equity¹	1.16	1.47	2.03	1.50	1.21
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	18,317)	19,775)	21,299)	15,714)	15,091)
Adjusted total equity³	15,827)	13,303)	10,711)	10,646)	12,137)
Solvency Ratio
Adjusted debt to equity⁴	1.16	1.49	1.99	1.48	1.24

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).

¹ 2021 Calculation
Debt to equity = Total debt ÷ Total 3M Company shareholders’ equity
= 17,463 ÷ 15,046 = 1.16

² Adjusted total debt. See details »

³ Adjusted total equity. See details »

⁴ 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 18,317 ÷ 15,827 = 1.16

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt	17,463)	18,910)	20,445)	14,714)	14,022)
Total capital	32,509)	31,777)	30,508)	24,510)	25,585)
Solvency Ratio
Debt to capital¹	0.54	0.60	0.67	0.60	0.55
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt²	18,317)	19,775)	21,299)	15,714)	15,091)
Adjusted total capital³	34,144)	33,078)	32,010)	26,360)	27,228)
Solvency Ratio
Adjusted debt to capital⁴	0.54	0.60	0.67	0.60	0.55

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).

¹ 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 17,463 ÷ 32,509 = 0.54

² Adjusted total debt. See details »

³ Adjusted total capital. See details »

⁴ 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 18,317 ÷ 34,144 = 0.54

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total assets	47,072)	47,344)	44,659)	36,500)	37,987)
Total 3M Company shareholders’ equity	15,046)	12,867)	10,063)	9,796)	11,563)
Solvency Ratio
Financial leverage¹	3.13	3.68	4.44	3.73	3.29
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets²	46,680)	46,706)	44,299)	37,230)	38,648)
Adjusted total equity³	15,827)	13,303)	10,711)	10,646)	12,137)
Solvency Ratio
Adjusted financial leverage⁴	2.95	3.51	4.14	3.50	3.18

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).

¹ 2021 Calculation
Financial leverage = Total assets ÷ Total 3M Company shareholders’ equity
= 47,072 ÷ 15,046 = 3.13

² Adjusted total assets. See details »

³ Adjusted total equity. See details »

⁴ 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 46,680 ÷ 15,827 = 2.95

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M	5,921)	5,384)	4,570)	5,349)	4,858)
Net sales	35,355)	32,184)	32,136)	32,765)	31,657)
Profitability Ratio
Net profit margin¹	16.75%	16.73%	14.22%	16.33%	15.35%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest²	6,650)	5,860)	3,945)	5,531)	5,431)
Adjusted net sales³	35,386)	32,252)	31,949)	32,869)	31,641)
Profitability Ratio
Adjusted net profit margin⁴	18.79%	18.17%	12.35%	16.83%	17.16%

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).

¹ 2021 Calculation
Net profit margin = 100 × Net income attributable to 3M ÷ Net sales
= 100 × 5,921 ÷ 35,355 = 16.75%

² Adjusted net income including noncontrolling interest. See details »

³ Adjusted net sales. See details »

⁴ 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted net sales
= 100 × 6,650 ÷ 35,386 = 18.79%

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M	5,921)	5,384)	4,570)	5,349)	4,858)
Total 3M Company shareholders’ equity	15,046)	12,867)	10,063)	9,796)	11,563)
Profitability Ratio
ROE¹	39.35%	41.84%	45.41%	54.60%	42.01%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest²	6,650)	5,860)	3,945)	5,531)	5,431)
Adjusted total equity³	15,827)	13,303)	10,711)	10,646)	12,137)
Profitability Ratio
Adjusted ROE⁴	42.02%	44.05%	36.83%	51.95%	44.75%

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).

¹ 2021 Calculation
ROE = 100 × Net income attributable to 3M ÷ Total 3M Company shareholders’ equity
= 100 × 5,921 ÷ 15,046 = 39.35%

² Adjusted net income including noncontrolling interest. See details »

³ Adjusted total equity. See details »

⁴ 2021 Calculation
Adjusted ROE = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted total equity
= 100 × 6,650 ÷ 15,827 = 42.02%

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	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income attributable to 3M	5,921)	5,384)	4,570)	5,349)	4,858)
Total assets	47,072)	47,344)	44,659)	36,500)	37,987)
Profitability Ratio
ROA¹	12.58%	11.37%	10.23%	14.65%	12.79%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income including noncontrolling interest²	6,650)	5,860)	3,945)	5,531)	5,431)
Adjusted total assets³	46,680)	46,706)	44,299)	37,230)	38,648)
Profitability Ratio
Adjusted ROA⁴	14.25%	12.55%	8.91%	14.86%	14.05%

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).

¹ 2021 Calculation
ROA = 100 × Net income attributable to 3M ÷ Total assets
= 100 × 5,921 ÷ 47,072 = 12.58%

² Adjusted net income including noncontrolling interest. See details »

³ Adjusted total assets. See details »

⁴ 2021 Calculation
Adjusted ROA = 100 × Adjusted net income including noncontrolling interest ÷ Adjusted total assets
= 100 × 6,650 ÷ 46,680 = 14.25%

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3M Co. (NYSE:MMM)

Adjusted Financial Ratios

Adjusted Financial Ratios (Summary)

3M Co., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Current Ratio

Adjusted Debt to Equity

Adjusted Debt to Capital

Adjusted Financial Leverage

Adjusted Net Profit Margin

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)