share_log

3M | 8-K: 3M Company Unaudited Pro Forma Condensed Consolidated Financial Statements

SEC announcement ·  Apr 4 16:19
Summary by Moomoo AI
On April 1, 2024, 3M Company completed the spin-off of its health care business, now known as Solventum Corporation, distributing 80.1% of Solventum's common stock to 3M shareholders. The distribution was effective at 3:30 a.m. Eastern Time on the same day. 3M stockholders received one share of Solventum for every four shares of 3M held as of March 18, 2024. Solventum's common stock is now independently listed on the New York Stock Exchange under the symbol 'SOLV'. The separation has led to the reclassification of Solventum as Discontinued Operations in 3M's financial statements, and 3M will measure its remaining 19.9% equity interest in Solventum at fair value. The unaudited pro forma condensed consolidated financial statements reflect the financial impact of the separation as if it had occurred at the beginning of the fiscal year 2021.
On April 1, 2024, 3M Company completed the spin-off of its health care business, now known as Solventum Corporation, distributing 80.1% of Solventum's common stock to 3M shareholders. The distribution was effective at 3:30 a.m. Eastern Time on the same day. 3M stockholders received one share of Solventum for every four shares of 3M held as of March 18, 2024. Solventum's common stock is now independently listed on the New York Stock Exchange under the symbol 'SOLV'. The separation has led to the reclassification of Solventum as Discontinued Operations in 3M's financial statements, and 3M will measure its remaining 19.9% equity interest in Solventum at fair value. The unaudited pro forma condensed consolidated financial statements reflect the financial impact of the separation as if it had occurred at the beginning of the fiscal year 2021.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more