3M has entered into a settlement agreement to resolve the vast majority of personal injury claims related to per- or poly-fluoroalkyl substances (PFAS) within the Aqueous Film-Forming Foam (AFFF) multidistrict litigation. As part of the agreement, 3M will contribute a nominal total of $7.35 billion over eight years, without admitting liability or wrongdoing.
Key Details
- Settlement Amount: 3M will contribute a total nominal amount of $7.35 billion, with payments scheduled between 2026 and 2034.
- Financial Impact: The company will record a pre-tax charge of approximately $5.8 billion in the fourth quarter of 2026, which represents the present value of the settlement contributions.
- Scope of Agreement: The settlement is intended to resolve most of the alleged PFAS-related personal injury claims in the AFFF multidistrict litigation in the U.S. District Court for the District of South Carolina.
- Contingencies: The final settlement amount and payment terms are contingent upon meeting certain participation thresholds from claimants, who must provide a full release of all related claims to participate.