CNH REPORTS IMPACT OF RETIREE DRUG BENEFITS CHANGE
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BURR RIDGE, IL - (April 6, 2010) - CNH Global N.V. (NYSE: CNH) today reported that, under the new Patient Protection and Affordable Care Act, to the extent CNH's future health care drug expenses are reimbursed under the Medicare Part D retiree drug subsidy program, such expenses will no longer be tax deductible. CNH will reflect the full tax impact of this change, an after-tax charge of $20 million, in its results for the first quarter of 2010.
CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by more than 11,600 dealers in approximately 170 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE:CNH), is a majority-owned subsidiary of Fiat S.p.A. (FIA.MI). More information about CNH and its Case and New Holland products can be found online at www.cnh.com.