3M Hit With $214 Million in PFAS Litigation Costs in Three Months

3M Co.'s efforts to manage liabilities for its history of manufacturing and disposing of ubiquitous PFAS chemicals cost the company about $214 million during the fourth quarter of 2019.

The litigation charge amounts to $0.29 per share of the company’s stock, valued at about $167 during a Tuesday earnings conference call. The company has been involved in negotiations and mediation with multiple parties over poly- and perfluoroalkyl substances, or PFAS, which have been found polluting water supplies across the country.

The company also received a grand jury subpoena in late December for PFAS discharges from its Decatur, Ala., facility, which ...