Item 2.02. Results of Operations and Financial Condition
On
Item 8.01. Other Events
OnJuly 26, 2022 , the Company issued a press release announcing its intent to spin off its Health Care business, resulting in two standalone public companies, in a transaction that is intended to be tax-free for the Company's stockholders forU.S. federal income tax purposes. The press release is attached hereunder as Exhibit 99.2 and incorporated herein by reference. Also onJuly 26, 2022 , the Company issued a press release announcing that its wholly-owned subsidiaryAearo Technologies and certain of its related entities (the "Aearo Entities") have voluntarily initiated chapter 11 proceedings under theU.S. Bankruptcy Code to address potential liabilities related to Dual-Ended Combat Arms - Version 2 earplugs and mask/respirator products historically manufactured and sold by the Aearo Entities. In consideration of theAearo Entities' agreement to indemnify the Company for such liabilities, the Company has entered into a funding and indemnification agreement with the Aearo Entities to fund a trust to resolve all claims determined to be entitled to compensation and to support the Aearo Entities as they continue to operate during the chapter 11 proceedings, as set forth in the agreement. The press release is attached hereunder as Exhibit 99.3 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits Exhibit Number Description 99.1 Press Release, dated as ofJuly 26, 2022 , of3M Company (furnished pursuant to Item 2.02 hereof) 99.2 Press Release, dated as ofJuly 26, 2022 , of
to Item 8.01 hereof) 99.3 Press Release, dated as ofJuly 26, 2022 , of
to Item 8.01 hereof) 104 Cover Page Interactive Data File (the cover
page XBRL tags are embedded in
the Inline XBRL document).
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