CHICAGO (AP) -- Boeing Co. will take a charge of $150 million due to the recent health care overhaul legislation, the aircraft maker said Wednesday.
The charge will hurt earnings by 20 cents per share in the first quarter of 2010.
In 2013 Boeing will no longer be able to claim an income tax deduction related to certain prescription drug benefits for retirees. Accounting rules require that the company take the charge during the period the legislation is enacted.
Several other companies have said they will take accounting charges due to the health care reform bill including AT&T, AK Steel Corp., Caterpillar Inc. and 3M Co.
Boeing, which is based in Chicago, gave a cautious outlook for 2010 in January after dealing with program delays and declining orders in 2009.
At the time, it said it expected to earn $3.70 to $4 per share this year on revenue of $64 billion to $66 billion.
But Boeing said it will now review its guidance in light of the health care reform and update it when it releases first-quarter results.
Shares fell 92 cents to $72.61 during morning trading.
