By Robb M. Stewart

MELBOURNE, Australia--BHP Billiton Ltd. (BHP.AU) said it expects to recognize a $1.8 billion income-tax expense to reflect the reduction in the U.S. federal corporate-tax rate and other changes.

However, in the longer term it expects the overhauls to have a positive effect on profit from the U.S.

The British-Australian resources major said Tuesday it would book an exceptional item consisting of a remeasurement of deferred taxes in the U.S. of $898 million and a $834 million impairment of foreign tax credits.

BHP, whose U.S. operations include two fields it operates in the Gulf of Mexico and oil and gas production from onshore shale areas, is set to release results for the six months through December next Tuesday, after the Australian market closes.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

February 13, 2018 01:41 ET (06:41 GMT)

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