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TableofContents
InNovember2013,3MissuedaEurobondduein2021forafaceamountof600millionEuros.Upondebtissuance,3Mcompleteda
fixed-to-floatinginterestrateswaponanotionalamountof300millionEurosasafairvaluehedgeofaportionofthefixedinterest
rateEurobondobligation.
InJune2014,3Missued$950millionaggregateprincipalamountofmedium-termnotes.Upondebtissuance,theCompanyentered
intoaninterestrateswaptoconvert$600millionofa$625millionnoteincludedinthisissuancetoaninterestratebasedona
floatingthree-monthLIBORindexasafairvaluehedgeofaportionofthefixedinterestratemedium-termnoteobligation.
InAugust2015,3Missued$1.500billionaggregateprincipalamountofmedium-termnotes.Upondebtissuance,theCompany
enteredintotwointerestrateswapsasfairvaluehedgesofaportionofthefixedinterestratemedium-termnoteobligation.Thefirst
converteda$450millionthree-yearfixedratenote,andthesecondconverted$300millionofafive-yearfixedratenoteincludedin
thisissuancetoaninterestratebasedonafloatingthree-monthLIBORindex.
Thelocationintheconsolidatedstatementsofincomeandamountsofgainsandlossesrelatedtoderivativeinstrumentsdesignatedas
fairvaluehedgesandsimilarinformationrelativetothehedgeditemsareasfollows:
YearendedDecember31,2015 Gain(Loss)onDerivative Gain(Loss)onHedgedItem 
(Millions) RecognizedinIncome RecognizedinIncome 
DerivativesinFairValueHedgingRelationships  Location  Amount  Location  Amount
Interestrateswapcontracts Interestexpense $(2) Interestexpense $ 2
Total  $(2)  $ 2
YearendedDecember31,2014 Gain(Loss)onDerivative Gain(Loss)onHedgedItem 
(Millions) RecognizedinIncome RecognizedinIncome 
DerivativesinFairValueHedgingRelationships  Location  Amount  Location  Amount
Interestrateswapcontracts Interestexpense $ 11  Interestexpense $(11)
Total  $ 11  $(11)
YearendedDecember31,2013 Gain(Loss)onDerivative Gain(Loss)onHedgedItem 
(Millions) RecognizedinIncome RecognizedinIncome 
DerivativesinFairValueHedgingRelationships  Location  Amount  Location  Amount
Interestrateswapcontracts Interestexpense $(21) Interestexpense $ 21
Total  $(21)  $ 21
NetInvestmentHedges:
TheCompanymayusenon-derivative(foreigncurrencydenominateddebt)andderivative(foreignexchangeforwardcontracts)
instrumentstohedgeportionsoftheCompany’sinvestmentinforeignsubsidiariesandmanageforeignexchangerisk.For
instrumentsthataredesignatedandqualifyashedgesofnetinvestmentsinforeignoperationsandthatmeettheeffectiveness
requirements,thenetgainsorlossesattributabletochangesinspotexchangeratesarerecordedincumulativetranslationwithinother
comprehensiveincome.Theremainderofthechangeinvalueofsuchinstrumentsisrecordedinearnings.Recognitioninearningsof
amountspreviouslyrecordedincumulativetranslationislimitedtocircumstancessuchascompleteorsubstantiallycomplete
liquidationofthenetinvestmentinthehedgedforeignoperation.Totheextentforeigncurrencydenominateddebtisnotdesignated
inorisdedesignatedfromanetinvestmenthedgerelationship,changesinvalueofthatportionofforeigncurrencydenominateddebt
duetoexchangeratechangesarerecordedinearningsthroughtheirmaturitydate.
3M’suseofforeignexchangeforwardcontractsdesignatedinhedgesoftheCompany’snetinvestmentinforeignsubsidiariescan
varybytimeperioddependingonwhenforeigncurrencydenominateddebtbalancesdesignatedinsuchrelationshipsare
dedesignated,matured,orarenewlyissuedanddesignated.Additionally,variationcanoccurinconnectionwiththeextentofthe
Company’sdesiredforeignexchangeriskcoverage.
AtDecember31,2015,thetotalnotionalamountofforeignexchangeforwardcontractsdesignatedinnetinvestmenthedgeswas
approximately974millionEurosandapproximately248billionSouthKoreanWon,alongwithaprincipal
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