Key facts
- 3M said the $7.35 billion nominal commitment runs over nine years and has a present value of $5.8 billion.
- 3M said about 115,000 to 120,000 plaintiffs are eligible to participate in the resolution.
- 3M said the payment structure includes $50 million in 2026, no payments in 2027 and about 20% due in the final two years.
- 3M said it met its 2022 goal of discontinuing manufacture of all PFAS globally by the end of 2025.
- CEO William Brown said the settlement substantially reduces litigation uncertainty for 3M.
- 3M said the agreement was not an admission of liability and it would keep defending itself if terms are not fulfilled.
3M said on November 3 that it had entered into a broad resolution to settle personal injury claims tied to PFAS, the chemicals known as forever chemicals, and warned of a $5.8 billion pre-tax hit in the fourth quarter.
Under the agreement, 3M said it would make a pre-tax $7.35 billion nominal commitment over nine years, with a present value of $5.8 billion. The company said the resolution addressed about 99% of current personal injury claims inside and outside the Aqueous Film-Forming Foam Multi-District Litigation, involving about 115,000 to 120,000 plaintiffs eligible to participate, including all personal injury claims that had been the focus of the litigation.
3M said the payment structure includes a $50 million payment in 2026 and no payments in 2027, with about 20% of payments due in the final two years. The company said it announced in 2022 that it would discontinue the manufacture of all PFAS globally by the end of 2025 and had successfully met that goal.
"This settlement is a significant milestone for 3M and substantially reduces litigation uncertainty," CEO William Brown said in a statement on November 3.
3M said the charge does not change its previously issued 2026 forecast. The company said the agreement was not an admission of liability and that it would be prepared to continue to defend itself if the agreed settlement terms are not fulfilled.