HIGH TECHNOLOGY
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AT&T; to Take Charge Against Earnings: American Telephone & Telegraph Co. said it expects to take a one-time charge of $5.5 billion to $7.5 billion after taxes for the cost of retiree health care benefits. It said it will probably record the accounting charge in the first quarter of 1993. Under new accounting rules, U.S. corporations must take charges to account for the future cost of retiree health benefits by the first quarter of 1993. In the past, companies paid for the benefits on a pay-as-you-go basis.
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