v3.24.3
Pension and Postretirement Benefit Plans (Tables)
 9 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost (Benefit) The other components of net periodic benefit cost are reflected in other expense (income), net. Effective April 1, 2024, approximately $2.7 billion of benefit obligations and $2.4 billion of plan assets for certain pension and postretirement benefit plans, were transferred to Solventum, which is treated as a discontinued operation. Components of net periodic benefit cost and other supplemental information for the three and nine months ended September 30, 2024 and 2023 follow:
Three months ended September 30,
Qualified and Non-qualified Pension BenefitsPostretirement Benefits
United StatesInternational
(Millions)202420232024202320242023
Net periodic benefit cost (benefit)
Operating expense
Service cost $28 $42 $15 $21 $5 $6 
Non-operating expense
Interest cost 110 166 50 56 20 21 
Expected return on plan assets (140)(243)(81)(76)(15)(20)
Amortization of transition asset— — — 1 — — 
Amortization of prior service benefit(3)(6)— — (6)(7)
Amortization of net actuarial loss 64 73 3 2 5 2 
Settlements, curtailments, special termination benefits and other— — — — — — 
Total non-operating expense (benefit)31 (10)(28)(17)4 (4)
Total net periodic benefit cost (benefit) 59 32 (13)4 9 2 
Service cost - continuing operations$28 $34 $15 $17 $5 $5 
Service cost - discontinued operations
— 8 — 4 — 1 
Total service cost
28 42 15 21 5 6 
Non-operating expense (benefit) - continuing operations
31 (6)(28)(17)4 (3)
Non-operating expense (benefit) - discontinued operations— (4)— — — (1)
Total non-operating expense (benefit)
31 (10)(28)(17)4 (4)
Total net periodic benefit cost (benefit) - continuing operations59 28 (13)— 9 2 
Total net periodic benefit cost (benefit) - discontinued operations
— 4 — 4 — — 
Total net periodic benefit cost (benefit)
$59 $32 $(13)$4 $9 $2 
Nine months ended September 30,
Qualified and Non-qualified Pension BenefitsPostretirement Benefits
United StatesInternational
(Millions)202420232024202320242023
Net periodic benefit cost (benefit)
Operating expense
Service cost $94 $128 $50 $60 $17 $18 
Non-operating expense
Interest cost 411 497 153 165 63 66 
Expected return on plan assets (573)(731)(248)(226)(49)(58)
Amortization of transition asset— — 2 2 — — 
Amortization of prior service benefit(11)(18)1 1 (18)(23)
Amortization of net actuarial loss 242 220 9 6 15 6 
Settlements, curtailments, special termination benefits and other 795 — — — — — 
Total non-operating expense (benefit)864 (32)(83)(52)11 (9)
Total net periodic benefit cost (benefit) 958 96 (33)8 28 9 
Service cost - continuing operations$87 $104 $45 $48 $16 $15 
Service cost - discontinued operations
7 24 5 12 1 3 
Total service cost
94 128 50 60 17 18 
Non-operating expense (benefit) - continuing operations
864 (20)(83)(50)11 (7)
Non-operating expense (benefit) - discontinued operations— (12)— (2)— (2)
Total non-operating expense (benefit)
864 (32)(83)(52)11 (9)
Total net periodic benefit cost (benefit) - continuing operations951 84 (38)(2)27 8 
Total net periodic benefit cost (benefit) - discontinued operations
7 12 5 10 1 1 
Total net periodic benefit cost (benefit)
$958 $96 $(33)$8 $28 $9