Friday, April 9, 2010

Healthcare Hemorrhage Update

Figures are in millions and are up to date through Friday, April 9, 2010.

Company Charge
Kroger $2
Allegheny Technologies $5
Carpenter Technology $6
Goodrich $10
Honeywell $13
Xcel Energy $17
Valero  $20
Illinois Tool $22
Eaton $25
AK Steel $31
Ingersoll Rand $41
Exelon $65
Alcoa $80
Brush Materials $85
PPG $85
3M $90
Lockheed Martin $95
Caterpillar $100
Prudential $100
Boeing $150
Deere $150
Wheeling Steel $170
Verizon $970
AT&T $1,000
To Date: $3,332

That's now 24 companies announcing $3.332 billion in charge-offs related to ObamaCare's new tax provisions.  With a US median family income around $50,000 this represents the equivalent of approximately 67,000.  Steelcase and DTE Energy were also expected to announce the impact of ObamaCare on their earnings, but had not announced as of 04/09/10.

Stay tuned for future updates, and if you know of a publicly traded company announcing earnings charges related to the new policy, please tweet me at @GulfCoastTider.


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