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3M Co (MMM) Effective Interest Rate on Debt % : 7.90% (As of Mar. 2024)


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What is 3M Co Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. 3M Co's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $1,540 Mil. 3M Co's average total debt for the quarter that ended in Mar. 2024 was $19,506 Mil. Therefore, 3M Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 7.90%.


3M Co Effective Interest Rate on Debt % Historical Data

The historical data trend for 3M Co's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

3M Co Effective Interest Rate on Debt % Chart

3M Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.49 2.58 2.56 2.63 5.59

3M Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.92 3.42 7.24 8.82 7.90

Competitive Comparison of 3M Co's Effective Interest Rate on Debt %

For the Conglomerates subindustry, 3M Co's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


3M Co's Effective Interest Rate on Debt % Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, 3M Co's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where 3M Co's Effective Interest Rate on Debt % falls into.



3M Co Effective Interest Rate on Debt % Calculation

3M Co's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -942/( (16855+16854)/ 2 )
=-1  *  -942/16854.5
=5.59 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=14656 + 2199
=16855

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=13682 + 3172
=16854

3M Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -1540/( (16854+22157)/ 2 )
=-1  *  -1540/19505.5
=7.90 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=13682 + 3172
=16854

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=21110 + 1047
=22157

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


3M Co  (NYSE:MMM) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


3M Co Effective Interest Rate on Debt % Related Terms

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3M Co (MMM) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » 3M Co (NYSE:MMM) » Definitions » Effective Interest Rate on Debt %
Address
3M Center, St. Paul, MN, USA, 55144
3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets.
Executives
Thomas W Sweet director ONE DELL WAY, ROUND ROCK TX 78682
Bryan C Hanson officer: Group Pres & CEO Health Care ZIMMER BIOMET HOLDINGS, 345 E. MAIN STREET, WARSAW IN 46580
Audrey Choi director 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Eric D. Hammes officer: VP, Corp Controller & CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000
Goralski Christian T Jr officer: Group President 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Pedro Pizarro director 2244 WALNUT GROVE AVENUE, ROSEMEAD CA 91770
Anne H Chow director 2200 WEST PARKWAY BLVD., SALT LAKE CITY UT 84119
Kevin H Rhodes officer: EVP & Chief Legal Officer 3M COMPANY, 3M CENTER, BLDG 220-09-E-02, ST. PAUL MN 55144-1000
Chavez Rodriguez Beatriz Karina officer: Senior Vice President 3M COMPANY, 3M CENTER BLDG 220-09-E-02, ST. PAUL MN 55144-1000
John Patrick Banovetz officer: Sr Vice President 3M CENTER, MAPLEWOOD MN 55144
Zoe L Dickson officer: Executive Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Michael G. Vale officer: Executive Vice President 3M CENTER OFFICE OF GENERAL COUNSEL, ST PAUL MN 551441000
Theresa E Reinseth officer: Vice President/CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Mojdeh Poul officer: Executive Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Michael F Roman officer: Senior Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000

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