3M (MMM) announced that it had agr🍎eed to pay $10.3 billion to settle broad class-action lawsuits over so-called “forever chemicals.”

The conglomerate indicated the deal with public water suppliers provides for remediation for the effects of per- and polyfluorinated substances (PFAS) in drinking water. The payment will be spread over a 13-year period.

3M has been making PFAS since the 1950s, and is one of the leading manufacturers of the chemicals. CEO Mike Roman called the settlement “an important step forward for 3M,” buildin♋g on its actions that included announcing that the company would exit all PFAS production by t♎he end of 2025.

3M said that it expects the agreement will result in a pre-tax charge o🌳f approximately $10.3 billion in the current quarter, and to reflect it as an adjustment in arriving at results, adjusted for special items.

Earlier this month, DuPont (DD) and spinoffs Chemours (CC) and Corteva (CTVA) reached a $1.185 settlement over PFAS pollution. 

Shares of 3M initially rose on Friday morning following the news, but gave up early gains and were 0.7% lower as of 11:30 a.m. Eastern Time.