Strong competitive position supported by broad product, customer, and geographic diversification; Differentiated technology platforms generate strong brands and scale; Strong profitability; Many businesses in competitive markets are sensitive to economic conditions, which is partially offset by breadth of products, geographies, and customers. Strong and consistent free operating cash flow (FOCF); Strong liquidity profile including cash balances and ample availability under its $3.75 billion revolving credit facility; Capacity to pursue financial objectives, including acquisitions, share repurchases, and moderately growing dividends while maintaining credit measures in line with the rating. S&P Global Ratings' stable outlook on 3M Co. reflects our expectation management will maintain financial policies that are consistent with the credit measures we forecast in our base-case scenario. As such, we
