What is the main reason for this 8-K filing?

This 8-K is being filed to update previously disclosed information and to provide supplemental unaudited historical financial data. The key updates relate to changes in how 3M measures segment operating performance and how certain non-GAAP measures (like adjusted EBITDA) are calculated, particularly concerning litigation expenses.

How will the changes in segment operating performance affect investors?

The changes in segment operating performance measurement will alter how 3M reports its business segments. Investors will see these new comparative results reflected in the company's Form 10-Q filing for the quarter ending March 31, 2022. This means investors should refer to that upcoming filing for a clearer understanding of segment performance under the revised methodology.

What are 'special items' and 'adjusted EBITDA' in this context?

'Special items' refer to significant, unusual, or non-recurring costs or gains that 3M adjusts for in its non-GAAP reporting to provide a clearer view of underlying operational performance. 'Adjusted EBITDA' is a non-GAAP measure representing earnings before interest, taxes, depreciation, and amortization, also adjusted for special items. The filing notes changes in how litigation costs are treated within these adjustments.

Does this filing contain new financial results for the first quarter of 2022?

No, this 8-K filing does not contain new official financial results for the first quarter of 2022. It provides supplemental historical information that has been updated due to changes in reporting methodology. The actual financial results for the first quarter of 2022 will be reported in the upcoming Form 10-Q filing.

MMM 8-K: Earnings & Results

Summary

This 8-K filing by 3M Company (MMM) on April 26, 2022, primarily serves to update previously filed information and provide supplemental financial data. The key takeaway for investors is the company's announcement of changes in how it measures segment operating performance, which will impact its segment reporting starting in the first quarter of 2022. This change means that comparative results under the new reporting basis will be provided with the filing of its Form 10-Q for the quarter ending March 31, 2022. Additionally, the filing includes updated supplemental unaudited historical information regarding certain amounts adjusted for special items and adjusted EBITDA (non-GAAP measures). These adjustments reflect changes in how 3M includes net costs for significant litigation within these non-GAAP metrics. While this report furnishes new information, it clarifies that this content is not deemed "filed" under Section 18 of the Exchange Act and will not be automatically incorporated into future filings. Investors should pay close attention to the upcoming Form 10-Q for the first quarter of 2022 for a full picture of the impact of these reporting changes.

Key Highlights

13M is updating its reporting to reflect changes in how its chief operating decision maker measures segment operating performance.
2New segment reporting basis will be applied starting in the first quarter of 2022.
3Comparative results under the new segment reporting will be provided in the Q1 2022 Form 10-Q filing.
4Supplemental unaudited historical information for adjusted EBITDA and amounts adjusted for special items is being provided.
5Adjustments for special items now reflect changes in the inclusion of net costs for significant litigation.
6The information furnished in this 8-K is not considered 'filed' for purposes of Section 18 of the Exchange Act.
7The filing includes standard forward-looking statements and a cautionary note regarding risks and uncertainties.

3M CO 8-K Report, Financial Results (Apr 26, 2022)

Summary

Key Highlights

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