Total

[Table of](#i7860c65eab2647ffbae7e3867c1cf525_7) [Contents](#i7860c65eab2647ffbae7e3867c1cf525_7)In December 2021 and June 2022, 3M entered into debt financing facilities providing commitments for term loans and potential bridge financing aggregating $1.0 billion related to the Food Safety Division split-off transaction and combination with Neogen (discussed in Note 3). The debt commitments also included a $150 million revolving credit facility for the Food Safety business. Coincident with completion of the September 2022 split-off, the Food Safety business term loan borrowings funded the cash payment to 3M discussed in Note 3. The bridge financing component of these facilities was terminated early and not utilized. Obligations under the commitments (including the $150 million revolving credit facility) transferred with the Food Safety business and became those of Neogen.Future Maturities of Long-term DebtMaturities of long-term debt in the table below reflect the impact of put provisions associated with certain debt instruments and are net of the unamortized debt issue costs such that total maturities equal the carrying value of long-term debt as of September 30, 2022. The maturities of long-term debt for the periods subsequent to September 30, 2022 are as follows (in millions):

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Remainder of2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | After 2027 |  | Total |
| $ | 123 |  | $ | 1,828 |  | $ | 1,100 |  | $ | 1,794 |  | $ | 1,368 |  | $ | 845 |  | $ | 8,647 |  | $ | 15,705 |

NOTE 11. Pension and Postretirement Benefit PlansThe service cost component of defined benefit net periodic benefit cost is recorded in cost of sales; selling, general and administrative expenses; and research, development and related expenses. The other components of net periodic benefit cost are reflected in other expense (income), net. Components of net periodic benefit cost and other supplemental information for the three and nine months ended September 30, 2022 and 2021 follow:Benefit Plan Information

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Three months ended September 30, |
|  |  | Qualified and Non-qualified Pension Benefits |  | Postretirement Benefits |
|  |  | United States | International |  |
| (Millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Net periodic benefit cost (benefit) |  |  |  |  |  |  |  |  |  |  |  |  |
| Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |
| Service cost  |  | $ | 64  |  |  | $ | 72  |  |  | $ | 32  |  |  | $ | 41  |  |  | $ | 10  |  |  | $ | 12  |  |
| Non-operating expense |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest cost  |  | 105  |  |  | 90  |  |  | 32  |  |  | 25  |  |  | 13  |  |  | 11  |  |
| Expected return on plan assets  |  | (241) |  |  | (264) |  |  | (69) |  |  | (81) |  |  | (17) |  |  | (19) |  |
| Amortization of transition asset |  | —  |  |  | —  |  |  | —  |  |  | 1  |  |  | —  |  |  | —  |  |
| Amortization of prior service benefit |  | (6) |  |  | (6) |  |  | —  |  |  | —  |  |  | (8) |  |  | (9) |  |
| Amortization of net actuarial loss  |  | 106  |  |  | 132  |  |  | 10  |  |  | 26  |  |  | 10  |  |  | 14  |  |
| Settlements, curtailments, special termination benefits and other  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |
| Total non-operating expense (benefit) |  | (36) |  |  | (48) |  |  | (27) |  |  | (29) |  |  | (2) |  |  | (3) |  |
| Total net periodic benefit cost (benefit)  |  | $ | 28  |  |  | $ | 24  |  |  | $ | 5  |  |  | $ | 12  |  |  | $ | 8  |  |  | $ | 9  |  |

20
