3M agrees $7.35bn settlement of most PFAS personal injury claims
The cash goes out between 2026 and 2034, and the settlement follows a profit outlook that 3M raised on October 20.
Chart: MMM, one-minute prices, three sessions
3M has agreed to settle about 99% of current PFAS personal injury claims, according to the company. The deal covers claims inside and outside the Aqueous Film-Forming Foam multidistrict litigation in South Carolina federal court. It took effect on November 3 and is not an admission of liability.
The agreement swaps an open-ended liability for a known cash schedule. It also removes the largest legal overhang left on 3M's balance sheet, so investors can weigh the legal risk apart from the operating business.
That business was already looking stronger. On October 20, 3M raised its full-year adjusted earnings per share guidance to $9.10-$9.15 and guided to roughly $4.8bn in free cash flow.
3M will pay $7.35bn in total between 2026 and 2034. The present value of that sum is $5.8bn, and 3M will book a pre-tax charge of approximately $5.8bn in the fourth quarter of 2026 to reflect it.
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