Summary
3M Company (MMM) filed an 8-K on February 11, 2022, primarily to announce changes in how its chief operating decision maker measures segment operating performance. These changes will be reflected in comparative reporting starting with the first quarter of 2022. The filing includes supplemental unaudited historical business segment and disaggregated revenue information reflecting these upcoming reporting changes. This announcement is important for investors as it signals a shift in internal performance metrics. While specific financial results are not detailed in this 8-K, understanding these changes is crucial for interpreting future segment performance and the company's strategic focus. Investors should note that this information is furnished and not deemed 'filed' under Section 18 of the Exchange Act, meaning it does not carry the same legal liability. The filing also contains extensive forward-looking statements and risk factors, directing investors to the annual report for further details on potential risks and uncertainties.
Key Highlights
- 1Announcement of changes in the measure of segment operating performance used by 3M's chief operating decision maker.
- 2New reporting basis for segment operating performance will be adopted starting in the first quarter of 2022.
- 3Comparative results under the new basis will be provided with the filing of the Quarterly Report on Form 10-Q for the quarter ending March 31, 2022.
- 4Supplemental unaudited historical business segment and disaggregated revenue information is being furnished as Exhibit 99.
- 5The information furnished in this 8-K is not deemed 'filed' under Section 18 of the Securities Exchange Act of 1934.
- 6The filing includes a comprehensive list of forward-looking statements and directs investors to the Form 10-K for detailed risk factors.