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Dominion revises Q4, FY'17 GAAP results on remeasurement of taxes

Dominion Energy Inc. revised downward its fourth-quarter and full-year 2017 GAAP earnings, after the remeasurement of deferred taxes resulting from the 2017 federal corporate income tax rate.

The company's revised fourth-quarter 2017 GAAP net income attributable to the company to $1.31 billion, or $2.04, a decrease from the recently reported GAAP net income of $1.45 billion, or $2.25 per share. Full-year 2017 GAAP net income was reduced to $3.0 billion, or $4.72 per share, from the previously reported result of $3.14 billion, or $4.93 per share.

The adjustments did not affect Dominion Energy's non-GAAP operating earnings for the quarter and year ended Dec. 31, 2017. The company continues to target 2018 operating EPS in the range of $3.80 to $4.25.