3M, a diversified global manufacturer and technology innovator, has reported significant changes in its business structure and financial reporting following the separation of its Health Care business. As of April 1, 2024, 3M completed the distribution of 80.1% of Solventum Corporation's outstanding shares to its stockholders, establishing Solventum as an independent public company. Consequently, 3M's financial results no longer consolidate Solventum's figures, and Solventum's historical net income and related assets and liabilities are now classified as discontinued operations in 3M's consolidated financial statements. The company has also made adjustments to its segment information and disaggregated revenue data to reflect changes in its business segments and the impact of the Solventum separation. 3M's continuing operations are managed across three business segments: Safety and...Show More

3M, a diversified global manufacturer and technology innovator, has reported significant changes in its business structure and financial reporting following the separation of its Health Care business. As of April 1, 2024, 3M completed the distribution of 80.1% of Solventum Corporation's outstanding shares to its stockholders, establishing Solventum as an independent public company. Consequently, 3M's financial results no longer consolidate Solventum's figures, and Solventum's historical net income and related assets and liabilities are now classified as discontinued operations in 3M's consolidated financial statements. The company has also made adjustments to its segment information and disaggregated revenue data to reflect changes in its business segments and the impact of the Solventum separation. 3M's continuing operations are managed across three business segments: Safety and Industrial, Transportation and Electronics, and Consumer. The company has highlighted the importance of organic sales change as a metric, which excludes the effects of foreign currency translation and acquisitions, net of divestitures. Additionally, 3M has noted the impact of special items on its financials, including significant litigation costs and sales and income from manufactured PFAS products. Investors and management are provided with non-GAAP measures adjusted for these special items to better understand ongoing operations and analyze operating trends.