Health Care Reform: Companies React

Xcel Energy
Xcel Energy(XEL) announced on April 1 that expects to expense about $17 million, or 4 cents a share, of previously recognized tax benefits relating to Medicare Part D subsidies during the first quarter ending March 31, 2010, as a result of the new health care law.

Xcel said that $17 million of additional tax expense won't reoccur in future periods. Xcel reaffirms its 2010 ongoing earnings guidance of $1.55 to $1.65 a share. "Xcel Energy does not consider the 4 cents per share charge to be part of ongoing earnings, as the adjustment results from a new law that is not expected to reoccur in the future," the company said in a statement.

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