List Of Companies Posting Charges Related To Health-Care Law

Date : 04/06/2010 @ 1:07PM
Source : Dow Jones News
Stock : Babcock & Wilcox Enterprises, Inc. (BW)
Quote : 5.93  0.0 (0.00%) @ 4:00AM

List Of Companies Posting Charges Related To Health-Care Law

AT&T Inc. (NYSE:T)
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Starting in 2013, companies that provide prescription-drug benefits for retirees under Medicare can no longer deduct this subsidy from their taxes, due to the federal health-care overhaul signed into law on March 23.

Since companies had created an asset based on these expected deductions, they will now need to take a charge to reflect the fall in the asset's value. The following companies have announced the amount of their health-care-related charges:

AT&T Inc. (T) -- $1 billion in 1Q

3M Co. (MMM) -- $85 million to $90 million in 1Q

Exelon Corp.(EXC) -- $65 million in 1Q

Verizon Communications Inc.(VZ) -- $970 million in 1Q

Carpenter Technology Corp.(CRS) -- 13 cents a share in 3Q

Ingersoll-Rand Co. Ltd. (IR) -- $41 million in 1Q

Lockheed Martin Corp. (LMT) -- $96 million in 1Q

Valero Energy Corp. (VLO) -- $15 million to $20 million in 1Q

Deere & Co. (DE) -- $150 million in 1Q

Boeing Co. (BA) -- $150 million in 1Q

Caterpillar Inc. (CAT) -- $100 million in 1Q

Prudential Financial (PRU) -- $100 million in 1Q

Xcel Energy Inc. (XEL) -- $17 million in 1Q

Goodrich Corp. (GR) -- $10 million in 1Q

AK Steel Holding Corp. (AKS) $31 million in 1Q

Honeywell International Inc. (HON) -- $13 million in 1Q

Allegheny Technologies Inc. (ATI) -- $5 million in 1Q

Kroger Co. (KR) -- $1.5 million to $2 million in 2010

Illinois Tool Works INc. (ITW) -- $22 million in 1Q

CMS Energy Corp. (CMS) -- $17 million in 1Q

Eaton Corp. (ETN)-- $25 million in 1Q

Exelon Corp. (EXC) -- $65 million in 1Q

Hartford Financial Services Group Inc. (HIG) -- $20 million in 1Q

Brush Engineered Materials Inc. (BW) -- 7 cents a share in 1Q


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