EXHIBIT 12 3M COMPANY AND SUBSIDIARIES CALCULATION OF THE RATIO OF EARNINGS TO FIXED CHARGES (Unaudited)

Three Months Ended Mar. 31, Year Year Year Year Year (Dollars in millions) 2002 2001 2000 1999 1998 1997 ------- ------ ------ ------ ------ ------ EARNINGS Income from continuing operations before income taxes, minority interest, extraordinary loss and cumulative effect of accounting change* $ 703 $2,186 $2,974 $2,880 $1,952 $3,440 Add: Interest expense 24 143 127 125 139 94 Interest component of the ESOP benefit expense 4 18 19 21 29 32 Portion of rent under operating leases representative of the interest component 10 39 39 37 41 41 Less: Equity in undistributed income of 20-50% owned companies 2 5 10 4 4 3 ------ ------ ------ ------ ------ ------ TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES $ 739 $2,381 $3,149 $3,059 $2,157 $3,604 ------ ------ ------ ------ ------ ------ FIXED CHARGES Interest on debt 25 150 141 135 139 94 Interest component of the ESOP benefit expense 4 18 19 21 29 32 Portion of rent under operating leases representative of the interest component 10 39 39 37 41 41 ------ ------ ------ ------ ------ ------ TOTAL FIXED CHARGES $ 39 $ 207 $ 199 $ 193 $ 209 $ 167 ------ ------ ------ ------ ------ ------ RATIO OF EARNINGS TO FIXED CHARGES 18.9 11.5 15.8 15.8 10.3 21.6 *Three months ended March 31, 2002, and year 2001, includes non-recurring net pre-tax losses of $54 million and $504 million, respectively, primarily related to the restructuring; 2000 includes non-recurring net pre-tax losses of $23 million; 1999 includes non-recurring net pre-tax gains of $100 million relating to gains on divestitures, litigation expense, an investment valuation adjustment, and a change in estimate that reduced 1998 restructuring charges; 1998 includes pre-tax restructuring charges of $493 million; 1997 includes a pre-tax gain on the sale of National Advertising Company of $803 million.