The company, based in San Francisco, also took a $45 million charge for environmental programs and tax adjustments from the prior year.
The 1991 profit would have been much lower without $37 million added from a favorable tax adjustment in Brazil.
The penalty is 20% of the amount of the tax adjustment, increased to 40% at a higher threshold.
About 130 get a minimum tax adjustment of $1,735.
To deal with the problem, the California Governor has proposed a series of what he calls "tax adjustments."
Without a one-time tax adjustment of $200 million, the loss would have been even greater.
Last year's results included a gain of $50.2 million, or 19 cents a share, from the tax adjustment.
The results for this year's quarter were helped by a one-time gain of $140 million from a favorable tax adjustment.
These figures include $1.85 a share and $2, respectively, for tax adjustments.
Would I have a claim against the town for some sort of tax adjustment or reimbursement for the damage?
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