Union Pacific estimates $6B benefit in 2017 from tax bill
OMAHA, Neb. (AP) — Union Pacific estimates that the changes in tax law will provide a roughly $6 billion boost to the railroad’s 2017 earnings.
Union Pacific disclosed the estimated impact of the tax bill Tuesday in a filing with the Securities and Exchange Commission. The paper gain won’t change Union Pacific’s cash.
The railroad said it expects to reduce its estimate of last year’s deferred tax liabilities by $5.8 billion.
The Omaha, Nebraska-based company said the new tax law will also bring a $200 million non-cash reduction to its 2017 operating expenses.
Union Pacific plans to release more details when it issues its fourth-quarter earnings report on Jan. 25.