Armstrong Taking Charge Related To Health Reform
Lancaster, PA, April 8, 2010--Armstrong World Industries said in a filing with the Securities and Exchange Commission that it expects to take a $22 million first-quarter charge stemming from the recently enacted federal health care reform.
Armstrong anticipates charge because the new law reduces the tax deductibility of retiree health care costs starting in 2013.
Armstrong joins AT&T Inc., Caterpillar Inc., and other companies that said they expect to record charges related to the legislation
Armstrong's filing also indicated that its board has granted new stock options to CFO Thomas Mangas; Frank Ready, CEO of its Armstrong Floor Products division; Jeffrey Nickel, senior vice president, chief counsel and secretary; and Stephen McNamara, vice president and controller..
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