3M Company (MMM)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	11,125,000	11,319,000	11,781,000	20,593,000	13,088,000	12,876,000	12,954,000	12,948,000	14,001,000	13,849,000	14,019,000	14,801,000	16,056,000	16,193,000	16,267,000	16,819,000	17,989,000	18,429,000	19,276,000	19,247,000
Total assets	US$ in thousands	39,868,000	40,875,000	43,377,000	55,243,000	50,580,000	49,621,000	48,880,000	46,886,000	46,455,000	46,176,000	45,634,000	45,855,000	47,072,000	48,278,000	48,307,000	47,180,000	47,344,000	45,390,000	45,079,000	46,212,000
Debt-to-assets ratio		0.28	0.28	0.27	0.37	0.26	0.26	0.27	0.28	0.30	0.30	0.31	0.32	0.34	0.34	0.34	0.36	0.38	0.41	0.43	0.42

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $11,125,000K ÷ $39,868,000K
= 0.28

The debt-to-assets ratio of 3M Company has shown a fluctuating trend over the reporting periods provided. Starting at 0.42 in March 2020, the ratio slightly increased to 0.43 by June 2020 before gradually declining to 0.34 in June 2021. This downward trend continued until March 2023 when the ratio reached its lowest point of 0.26. However, there was a notable spike in the ratio to 0.37 in March 2024 before returning to 0.28 in December 2024.

Overall, the debt-to-assets ratio of 3M Company indicates the proportion of debt used to finance its assets. A lower ratio suggests a company is using less leverage and has a stronger financial position in terms of debt management. The fluctuations observed in 3M's ratio may indicate shifts in the company's debt management strategies or changes in its capital structure over the period analyzed.