3M Anticipates New U.S. Healthcare Law to Result in One-Time Charge of $85-$90 Million After Tax in
3m Company Press Release ^ | 3-26-10 | 3M
Posted on Friday, March 26, 2010 3:28:37 PM by joinedafterattack
________________________ ________________________ ________________________ ____
3M Company (NYSE: MMM) said today that it expects to record a one-time non-cash charge of $85 to $90 million after tax, or approximately 12 cents per share, in the first quarter of 2010, resulting from the recently enacted Patient Protection and Affordable Care Act, including modifications made in the Health Care and Education Reconciliation Act of 2010 passed by Congress on March 25, 2010. The charge is due to a reduction in the value of the company’s deferred tax asset as a result of a change to the tax treatment of Medicare Part D reimbursements. The company’s 2010 GAAP earnings expectations, as provided in 3M’s Form 8-K dated January 28, 2010, were based on tax law in effect as of that date and therefore did not include the impact of the Act.
(Excerpt) Read more at businesswire.com ...
________________________ ________________________ _________
I hope you obama voters are the first to lose your jobs and starve in the streets for what you have done.
