COVID Stimulus Watch Individual Entry

Recipient Company:

3M Co

Loan or Loan Guarantee Amount:

$1,061,682

Recipient Details

Ownership Structure: publicly traded (ticker symbol MMM)

Award Date: Oct 8, 2020

Award Type: loan

Award Details: Amount represents the purchase price of company bonds bought by the Fed.

Program Name: Secondary Market Corporate Credit Facility

Legislation: CARES

Awarding Agency: Federal Reserve

Data Source for Award:

Parent Company: 3M Company

Headquartered in: Minnesota

Parent Sector: miscellaneous manufacturing

Parent Industry: diversified

Employees (prior to pandemic): 96,163

Employment-related Penalties: $21,949,213

Government-contracting-related Penalties: $9,100,000

Environmental / Healthcare / Safety Penalties: $891,265,612

Consumer Protection / Financial / Competition-related Penalties: $480,000

Ratio of CEO Pay to that of Median Worker: 319 to 1

CEO Compensation: $18,321,566

Worker Median Pay: $57,494

Total Federal, State, and Local Subsidies: $133,398,440

Federal Corporate Income Tax Rate: 17.8%