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Thelocationintheconsolidatedstatementsofincomeandamountsofgainsandlossesrelatedtoderivativeinstrumentsnot
designatedashedginginstrumentsareasfollows:
Gain(Loss)onDerivativeRecognizedinIncome
Yearended Yearended Yearended
December31, December31, December31,
DerivativesNotDesignatedasHedgingInstruments 2015 2014 2013
(Millions) Location Amount Amount Amount
Foreigncurrencyforward/optioncontracts Costofsales $ 5 $ 10 $ 20
Foreigncurrencyforwardcontracts Interestexpense (30) (40) (43)
Commoditypriceswapcontracts Costofsales (3) — (1)
Total $ (28) $ (30) $ (24)
LocationandFairValueAmountofDerivativeInstruments:
Thefollowingtablessummarizethefairvalueof3M’sderivativeinstruments,excludingnonderivativeinstrumentsusedashedging
instruments,andtheirlocationintheconsolidatedbalancesheet.Notionalamountsbelowarepresentedatperiodendforeign
exchangerates,exceptforcertaininterestrateswaps,whicharepresentedusingtheinceptiondate’sforeignexchangerate.
AdditionalinformationwithrespecttothefairvalueofderivativeinstrumentsisincludedinNote13.
Gross Assets Liabilities
December31,2015 Notional Fair Fair
(Millions) Amount Location ValueAmount Location ValueAmount
Derivativesdesignatedas
hedginginstruments
Foreigncurrencyforward/optioncontracts $ 2,815 Othercurrentassets $ 148 Othercurrentliabilities $ 14
Foreigncurrencyforward/optioncontracts 1,240 Otherassets 61 Otherliabilities 3
Interestrateswapcontracts 1,753 Otherassets 24 Otherliabilities 1
Totalderivativesdesignatedashedging
instruments $ 233 $ 18
Derivativesnotdesignatedas
hedginginstruments
Foreigncurrencyforward/optioncontracts $ 5,359 Othercurrentassets $ 63 Othercurrentliabilities $ 51
Totalderivativesnotdesignatedashedging
instruments $ 63 $ 51
Totalderivativeinstruments $ 296 $ 69
Gross Assets Liabilities
December31,2014 Notional Fair Fair
(Millions) Amount Location ValueAmount Location ValueAmount
Derivativesdesignatedas
hedginginstruments
Foreigncurrencyforward/optioncontracts $ 1,865 Othercurrentassets $ 116 Othercurrentliabilities $ 2
Foreigncurrencyforward/optioncontracts 656 Otherassets 47 Otherliabilities 1
Commoditypriceswapcontracts 20 Othercurrentassets — Othercurrentliabilities 4
Interestrateswapcontracts 1,003 Otherassets 27 Otherliabilities 3
Totalderivativesdesignatedashedging
instruments $ 190 $ 10
Derivativesnotdesignatedas
hedginginstruments
Foreigncurrencyforward/optioncontracts $ 6,582 Othercurrentassets $ 66 Othercurrentliabilities $ 33
Totalderivativesnotdesignatedashedging
instruments $ 66 $ 33
Totalderivativeinstruments $ 256 $ 43
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