DuPont, Chemours, Corteva settle PFAS water-system claims for $1.185B; DuPont takes $400M Q2 charge

DuPont de Nemours, Inc.

DuPont to contribute ~$400M of total $1.185B settlement; pre-tax charge in Q2 2023.
Settlement covers PFAS drinking water claims from U.S. public water systems in AFFF MDL.
Court preliminary approval expected within 2 months; final approval no sooner than 6 months after.
Chemours pays 50% (~$592M), DuPont ~$400M, Corteva ~$193M per 2021 MOU.
DuPont expects to use escrow account balance and other sources to fund contribution.

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

DuPont de Nemours, Inc. entered into Water District Settlement Agreement with a defined class of U.S. public water systems valued at $1.185 billion (effective 2023-06-30).

Action: entry
Agreement: settlement
Counterparty: a defined class of U.S. public water systems
Value: $1.185 billion
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023, The Chemours Company (“Chemours”), DuPont de Nemours, Inc. (the “Company” or “DuPont”), Corteva, Inc. (“Corteva”) (Chemours, DuPont and Corteva collectively, the “Companies”) entered a definitive agreement to comprehensively resolve all PFAS-related claims of a defined class of U.S. public water systems, including but not limited to water systems that are part of the multi-district litigation (“AFFF MDL”), related to the use of aqueous film-forming foam, (the “Water District Settlement Agreement”).

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DuPont de Nemours, Inc. filing history →

Source: SEC EDGAR

accession 0001666700-23-000076

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