-In terms of long-term debt (bonds and notes payable) as a percentage of total liabilities and shareholders equity for the past three years .There was a large decrease in debt from 2020-2022.(in millions)
2020: 17,989 = 38%
2021:16,056 = 34.1%
2022: 14,001 = 30.1%
-3M is a maintains a very liquid posture
-potentially, 3M might be trying to pay off long term notes on a quicker scale by strategizing their strong liquidity profile.