Friday, April 23, 2010

A Look At Health Care Unintended Consequence

Henry Waxman backed down and decided not to haul the CEO's in to explain why they were following corporate law and informing their stockholders that Obamacare would cost profit.

Got this little gem off my broker line today.


List Of Companies Posting Charges Related To Health-Care Law

Apr 23, 2010 12:30:00 (ET)

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.

Merck & Co. (MRK) -- $150M in 1Q

Schlumberger Ltd. (SLB) -- $40 million in 1Q

Chubb Corp. (CB) -- 7 cents in 1Q

Deluxe Corp. (DLX) -- 7 cents in 1Q

PepsiCo Inc. (PEP) -- $40 million in 1H

Reynolds American Inc. (RAI) -- 9 cents in 1Q

Altria Inc. Group Inc. (MO) -- 1 cent in 1Q

Deluxe Corp. (DLX) -- 7 cents 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

PPF Industries (PPG) -- $85 million 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

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 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

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

(END) Dow Jones Newswires

April 23, 2010 12:30 ET (16:30 GMT)

1 comment:

Goldwater's Ghost said...

I see a couple of pharmaceuticals in there. Don't worry fellas, Tauzin had your back; he made a deal with Barack Capone to ensure your "family" was taken care of, and that Congress wouldn't come back for more blood.

That's the Chicago way.

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