3M Company, one of the 30 components making up the Dow Jones Industrial Average and ranked #102 on the Fortune 500, is a multinational corporation based in Minnesota with approximately 95,000 full-time equivalent employees. It manufactures a wide range of consumable industrial products used every day in offices, homes, hospitals, schools, factories and other workplaces. Well-known brands include Scotch-Brite abrasives and cleaning supplies, 3M respirators, Scotchgard Protector, Scotch tapes, Post-it notes, and Scotchlite films.

In 2021, 3M had operating income of $7.4 billion with net sales of $35.4 billion. It has increased stockholder dividends for 64 consecutive years.

3M’s market cap peaked at $154 billion in January 2018, and today’s market cap of $74 billion is down over 50% from the peak.

Although 3M is highly profitable and is widely diversified with over 60,000 products, it faces bankruptcy risk due to lawsuits related to Combat Arms brand earplugs supplied to the US military. In 2008, 3M acquired Aearo Technologies, which manufactured the earplugs. Although Aearo has been bankrupted by 3M, on August 26, 2022, a federal judge ruled that 3M has successor liability and that mass tort claims by veterans will be allowed to proceed.

The company could face more than $100 billion in losses from these lawsuits, which could result in bankruptcy for the company, Bloomberg reports.