Deere & Company announced March 25 that the Patient Protection and Affordable Care Act signed into law March 23 will adversely impact its expenses for fiscal 2010.
Deere says new Health Care Reform Law will increase 2010 expense by $150 million after-tax
Deere & Company announced March 25 that the Patient Protection and Affordable Care Act signed into law March 23 will adversely impact its expenses for fiscal 2010. As a result of the legislation, the company’s expenses are expected to be about $150 million higher on an after-tax basis, primarily in the second quarter. This impact was not included in the 2010 outlook for net income attributable to Deere & Company of approximately $1.3 billion disclosed in the company’s first-quarter earnings report on Feb. 17.
Certain statements in this report are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to future events and financial performance. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements, because of, among other things, the risks and uncertainties found in the company’s press releases and other SEC filings, including the risk factors identified under the heading “Risk Factors” in the “Management’s Discussion and Analysis of Results of Operations and Financial Condition” in the company’s most recent Annual Report on Form 10-K, as updated by the company’s Quarterly Reports on Form 10-Q.