3M to pay up to $12.5B to resolve PFAS drinking water claims from U.S. public water systems

3M CO

Settlement resolves drinking water PFAS claims by U.S. public water systems; total nominal value $10.5B-$12.5B payable 2024-2036.
Pre-tax charge of approx. $10.3B in Q2 2023, reflecting present value of expected $12.5B nominal payments.
Settlement subject to court approval; 3M admits no liability and can terminate if opt-outs exceed specified thresholds.
Funding for PFAS treatment and testing for eligible PWS; 3M reaffirms plan to exit all PFAS manufacturing by end of 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

3M CO entered into Proposed Class-Action Settlement Regarding PFAS Drinking Water Claims with Class members comprising public water systems in the United States valued at $10.5 billion to $12.5 billion (effective 2023-06-22).

Action: entry
Agreement: settlement
Counterparty: Class members comprising public water systems in the United States
Value: $10.5 billion to $12.5 billion
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, 3M Company (“3M”) entered into a proposed class-action settlement (“Settlement”) to resolve a wide range of drinking water claims by public water systems (“PWS”) in the United States regarding any per- or poly-fluoroalkyl substance (“PFAS”), subject to court approval.

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3M CO filing history →

Source: SEC EDGAR

accession 0000066740-23-000048

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