3M
Q1 2022 Earnings Call
Apr 26, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the 3M first quarter earnings conference call. [Operator instructions] As a reminder, this conference is being recorded, Tuesday, April 26, 2022. I would now like to turn the conference over to Bruce Jermeland, senior vice president of investor relations at 3M.
Bruce Jermeland -- Senior Vice President of Investor Relations
Thank you, and good morning, everyone, and welcome to our first quarter earnings conference call. With me today are Mike Roman, 3M's chairman and chief executive officer; Monish Patolawala, our chief financial and transformation officer; and John Banovetz, our chief technology officer. John is joining us today to discuss our progress on the sustainability goals that we introduced in February last year. Mike, Monish, and John will make some formal comments.
Then we will take your questions. Please note that today's earnings release and slide presentation accompanying this call are posted on the homepage of our Investor Relations website at 3m.com. Please turn to Slide 2. Please take a moment to read the forward-looking statement.
During today's conference call, we will be making certain predictive statements that reflect our current views about 3M's future performance and financial results. These statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Item 1A of our most recent Form 10-K lists some of the most important risk factors that could cause actual results to differ from our predictions. Please note, throughout today's presentation, we'll be making references to certain non-GAAP financial measures.
Reconciliations of the non-GAAP measures can be found in the attachments to today's press release. Please turn to Slide 3. Before I hand the call over to Mike, I would like to take a moment and highlight a financial reporting change we are making starting here in Q1 2022. We recognize that the increases in legal-related charges that we have incurred the past couple of years have impacted investors' understanding of our underlying financial and operating performance.
We have been disclosing respirator and PFAS impacts in our public filings and have decided to provide additional disclosure by expanding the scope of our non-GAAP measurement adjustments to include all impacts of accrual changes and legal fees for respirator masks, PFAS, and Combat Arms matters. This change is a result of discussions we have had with many of you, along with recent benchmarking work we have done. This morning, we issued a Form 8-K with updated non-GAAP financial performance history for the past three years. Further, we will be issuing a Form 8-K amending our most recent annual report on Form 10-K to reflect the effects of this change in our non-GAAP measures and changes in segment reporting immediately after filing our Q1 2022 Form 10-Q this afternoon.