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. Search the subject code N/HCC for the
latest news on this topic.
Edison International (EIX) -- 12 cents a share in 1Q
Vectren Corp. (VVC) - $2.3 million in 1Q
OGE Energy Corp. (OGE) -- $11 million in 1Q
Unum Group (UNM) -- $10.2 million in 1Q
Frontier Communications Corp. (FTR) -- $4.1 million in 1Q
Ameren Corp (AEE) -- $13 million in 1Q
Qwest communications International Inc. (Q) -- 8 cents a share
in 1Q
Progress Energy Inc. (PGN) -- 8 cents a share in 1Q
R.R. Donnelley & Sons Co. (RRD) -- $3.3 million in 1Q
SPX Corp.(SPW) -- $6.2 million, or 12 cents a share, in 1Q
USEC Inc. (USU)-- $6.5 million in 1Q
Teco Energy Inc. (TE) -- $1.1 million in 1Q
Pfizer Inc. (PFE) -- $270 million in 1Q
Andersons Inc. (ANDE) -- $1.5 million in 1Q
EMC Insurance Group Inc. (EMCI) -- $800,000, or 6 cents a share,
in 1Q
Blount Inc. (BLT) -- $1.7 million in 1Q
Alliant Energy Corp. (LNT) -- 6 cents a share in 1Q
Martin Marietta Material Inc. (MLM) -- $2.8 million in 1Q
Otter Tail Corp. (OTTR) -- $1.7 million, or 5 cents a share, in
1Q
Bristol-Myers Squibb Co. (BMY) -- 3 cents a share in 1Q
Weyerhaeuser Co. (WY) -- $31 million, or 15 cents a share, in
1Q
Procter & Gamble Co. (PG) -- 5 cents a share in 3Q
Schlumberger Ltd. (SLB) -- $40 million in 1Q
Eli Lilly & Co. (LLY) -- 35 cents a share in 2010
Armstrong World Industries Inc. (AWI) -- $21.6 million in 1Q
Allete Inc. (ALE) -- $3.6 million in 1Q
ITT Corp. (ITT) -- $10 million in 1Q
Tesoro Corp. (TSO) -- $7 million in 1Q
Dun & Bradstreet Corp. (DNB) -- 26 cents a share in 1Q
Cummins Inc. (CMI) -- $7 million in 1Q
Ashland Inc. (ASH) -- $19 million charge, or 23 cents a share,
in 2Q
L-3 Communications Holdings Inc. (LLL) -- $5 million, or 4 cents
a share, in 1Q
Pactiv Corp. (PTV) -- $3 million, or 2 cents a share, in 1Q
Lee Enterprises Inc. (LEE) -- $2 million in 2Q
Temple-Inland Inc. (TIN) -- $7 million or 7 cents a share, in
1Q
Biogen Idec Inc. (BIIB) -- $13 million in 1Q
W.W. Grainger Inc. (GWW) -- $11 million, or 15 cents a share, in
1Q
Exxon Mobil Corp. (XOM) -- 4 cents a share in 1Q
Brinks Co. (BCO) -- 28 cents a share in 1Q
American Electric Power Co. (AEP) -- $21 million in 1Q
Clearwater Paper Corp. (CLW) -- 37 cents a share in 1Q
Empire District Electric Co. (EDE) -- $2.1 million in 1Q
Allegheny Technologies Inc. (ATI) -- $5.3 million in 1Q
Potlach Corp. (PCH) -- $3 million, or 7 cents a share, in 1Q
Norfolk Southern Corp. (NSC) -- $27 million, or 7 cents a share,
in 1Q
Ecolab Inc. (ECL) -- $5 million in 1Q
3M Co. (MMM) -- 11 cents a share in 1Q
Caterpillar Inc. (CAT) -- $90 million in 1Q
Humana Inc. (HUM) -- 4 cents a share in 1Q
Merck & Co. (MRK) -- $147 million in 1Q
Schlumberger Ltd. (SLB) -- $40 million in 1Q
Chubb Corp. (CB) -- 7 cents a share in 1Q
Deluxe Corp. (DLX) -- 7 cents a share in 1Q
PepsiCo Inc. (PEP) -- $40 million in 1H
Reynolds American Inc. (RAI) -- 9 cents a share in 1Q
Altria Inc. Group Inc. (MO) -- 1 cent a share in 1Q
Deluxe Corp. (DLX) -- 7 cents a share in 1Q
Sherwin-Williams Co. (SHW) -- 10 cents a share in 1Q
Baxter International Inc. (BAX) -- 7 cents a share in 1Q
Boeing Co. (BA) -- $150 million in 1Q; cut 2010 view by 20 cents
a share
Johnson & Johnson (JNJ) -- sees 2010 earnings cut by 10
cents a share
Hormel Foods Corp. (HRL) -- 5 cents a share in 2Q
Eli Lilly & Co. (LLY) -- 12 cents a share in 1Q
Gannett Co. (GCI) -- $2.2 million in 1Q
MetLife Inc. (MET) -- $75 million in 1Q
PPG Industries (PPG) -- $85 million, or 51 cents a share, in
1Q
United States Steel Corp. (X) -- $27 million in 1Q
CNH Global NV (CNH) -- $20 million in 1Q
AT&T Inc. (T) -- $1 billion 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 or 25 cents a share,
in 1Q
Valero Energy Corp. (VLO) -- $15 million to $20 million in
1Q
Deere & Co. (DE) -- $150 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
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