AT&T will take a $1 billion non-cash charge in the first quarter related to the health care overhaul.
AT&T Inc. said Friday that the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health care overhaul, which President Barack Obama signed Tuesday, will make a subsidy that companies receive for retiree drug coverage taxable in 2011.
AT&T also says it is looking into changing the health care benefits it offers to active and retired workers because of the legislation.
On Thursday, Deere & Co. and Caterpillar Inc. announced similar charges. Both say the health care law will raise their related expenses.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus
Posted: 08/06/2013 - Even if you don't plan to workout on your vacation, you may be surprised at the calories you're burning without even trying!
Updated: 06/18/2013 - We did a quick helicopter tour of the Black Forest burn area. Someone asked why the video looks shaky.
Updated: 05/20/2013 - Two weekends left to catch one great show!
Updated: 05/14/2013 - I'm still focused on meeting my goal of doing a pull-up. And I'm almost there! But I'm always getting this question: