BHP Flags $1.8 Billion Income-Tax Expense After Change in U.S. Corporate Rate
February 13 2018 - 12:56AM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--BHP Billiton Ltd. (BHP.AU) said it expects
to recognize a $1.8 billion income-tax expense to reflect the
reduction in the U.S. federal corporate-tax rate and other
changes.
However, in the longer term it expects the overhauls to have a
positive effect on profit from the U.S.
The British-Australian resources major said Tuesday it would
book an exceptional item consisting of a remeasurement of deferred
taxes in the U.S. of $898 million and a $834 million impairment of
foreign tax credits.
BHP, whose U.S. operations include two fields it operates in the
Gulf of Mexico and oil and gas production from onshore shale areas,
is set to release results for the six months through December next
Tuesday, after the Australian market closes.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 13, 2018 01:41 ET (06:41 GMT)
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