Apple's $74B overseas cash hoard leads all U.S. tech companies

Posted:
in General Discussion edited January 2014
A report released on Monday from investment bank Moody's revealed that Apple leads a list of technology U.S. companies holding overseas cash with some $74 billion, up from $64 billion in December and $35 billion at the end of 2010.

In a note released to investors, Moody?s Investors Service?s Richard Lane cited SEC filings as well as his firm's estimates and said U.S. tech companies contributed $227.5 billion to a total of $457 billion in overseas cash held by American corporations at the end of the first quarter of 2012, reports Barron's.

Excluding Apple's $74 billion contribution overseas cash rose saw a year-to-year increase of 15 percent for the March quarter, but when the Cupertino-based company's assets are included that number jumps to 31 percent.

Following Apple was Microsoft with $50 billion in overseas cash and Cisco with $42.3 billion. Oracle and Qualcomm rounded out the top five with $25.1 billion and $16.5 billion, respectively. The top ten U.S. tech companies now own 83 percent of all offshore cash for the sector, up from 74 percent five years ago.

Only companies holding combined cash and liquid assets above $2 billion were taken into account as part of the report.

Cork
Apple's European headquarters in Cork, Ireland.


Apple's international business recently came under fire for avoiding U.K. taxes by operating out of its headquarters in Cork, Ireland as well as an offshoot in the Virgin Islands.
«13

Comments

  • Reply 1 of 51


    It's "hoard" -- don't trust these spoilhecklers. JLG

  • Reply 2 of 51
    robin hoodrobin hood Posts: 513member


    Well spotted. I was an admirer of BeOS at the time, I guess you could say it was the first time I saw a truly modern operating system, and kind of got a feeling about what the future would hold.


     


    The reason I felt compelled to comment is because I used to walk past that building in the photo every day to work at Apple at 7am in the morning. Enjoyed my time there and met a lot of great people. Now I run my own company.

  • Reply 3 of 51
    robin hoodrobin hood Posts: 513member


    In case anyone is wondering, here's what the area looks like (photo below). It's quite run down with a lot of social problems in some ways.


     


    IMG_0043.JPG

  • Reply 4 of 51
    robin hoodrobin hood Posts: 513member


    Here's the view over the parking lot from the main employee cafeteria. It's a view to kill for! For obvious reasons I cannot post any photos from inside the building.


     


    IMG_0212.JPG

  • Reply 5 of 51
    gtrgtr Posts: 3,231member


    That's the real reason Apple built all those data centres:


     


    To store all those zeroes in their electronic bank accounts!

  • Reply 6 of 51
    davebarnesdavebarnes Posts: 270member


    G and not B.


    ISO standards here people.


    Mega


    Giga


    Tera


    etc.


     


    So, $74G.

  • Reply 7 of 51
    tallest skiltallest skil Posts: 43,399member
    davebarnes wrote: »
    G and not B.
    ISO standards here people.
    Mega
    Giga
    Tera
    etc.

    So, $74G.

    Or just B, as we know that means billion.

    Whenever I see $__MM, I always think trillion because two m's makes no sense.
  • Reply 8 of 51
    jragostajragosta Posts: 10,473member
    Or just B, as we know that means billion.
    Whenever I see $__MM, I always think trillion because two m's makes no sense.

    It's even more confusing because in some financial books, 'M' means thousand, so 'MM' means million.
  • Reply 9 of 51
    gtrgtr Posts: 3,231member


    Also, what's up with this?


     


    cork-120420.jpg


     


    Are they employing education on the side of the road now?


     


    Tell me things haven't gotten that bad!

  • Reply 10 of 51
    tallest skiltallest skil Posts: 43,399member
    gtr wrote: »
    Also, what's up with this?

    Are they employing education on the side of the road now?

    Tell me things haven't gotten that bad!

    And to top it all off, the sign still uses Garamond (though the image may be dated).
  • Reply 11 of 51
    MacProMacPro Posts: 18,150member
    And to top it all off, the sign still uses Garamond (though the image may be dated).

    Garamond 20% squished if I recall correctly.
  • Reply 12 of 51
    quadra 610quadra 610 Posts: 6,743member

    Quote:

    Originally Posted by digitalclips View Post





    Garamond 20% squished if I recall correctly.


     


    I think it's ITC Garamond, though Apple had a specially-commissoned version called Apple Garamond, if I recall. 


     


    It's anything but a "Garamond" font. But there you have it. Whatever its design roots, I've always liked it in connection with Apple. 

  • Reply 13 of 51
    MacProMacPro Posts: 18,150member
    quadra 610 wrote: »
    I think it's ITC Garamond, though Apple had a specially-commissoned version called Apple Garamond, if I recall. 

    It's anything but a "Garamond" font. But there you have it. Whatever its design roots, I've always liked it in connection with Apple. 

    Yep that's what was referring to, the commissioned font was Garamond 20% narrower I think and the cost of the new look was 1M$ I seem to remember and that included contrasting Helvetica Black .... Very classy.
  • Reply 14 of 51
    lamewinglamewing Posts: 742member


    I wish I could keep all my cash overseas and avoid paying taxes...all the while doing business here in the U.S.

  • Reply 15 of 51
    solipsismxsolipsismx Posts: 19,566member
    lamewing wrote: »
    I wish I could keep all my cash overseas and avoid paying taxes...all the while doing business here in the U.S.

    They aren't keeping all their cash overseas. Cash in other countries was earned in other countries. They're also paying taxes as those countries require. The only thing they aren't doing is bringing that cash back earned outside the US back to the US when they don't need to.
  • Reply 16 of 51
    gtrgtr Posts: 3,231member

    Quote:

    Originally Posted by lamewing View Post


    I wish I could keep all my cash overseas and avoid paying taxes...all the while doing business here in the U.S.



     


    Surprisingly, there's nothing to stop you from also being the next Apple, starting up an international, multi-billion dollar company, and doing the exact same thing!


     


    Go for it!

  • Reply 17 of 51
    adamcadamc Posts: 568member


    Now we know why they don't need to participate in any green program in the US.

  • Reply 18 of 51
    anantksundaramanantksundaram Posts: 19,058member

    Quote:

    Originally Posted by AdamC View Post


    Now we know why they don't need to participate in any green program in the US.



    Hello?

  • Reply 19 of 51
    iansilviansilv Posts: 283member
    I honestly believe that these companies should be allowed to bring the money in to the United States, tax free, if it is for capital expenditures- like factories, buildings, stuff like that. Can someone tell me why this would be bad? I'm not asking in a challenging or a baiting way- I'm dead serious- I want to hear a well-reasoned argument as to why that would be bad. I haven't given too much thought to it- my reaction was more of a knee-jerk one.
  • Reply 20 of 51
    Quote:
    Originally Posted by AdamC View Post


    Now we know why they don't need to participate in any green program in the US.

     

    Green as in dollar I hope you mean in there...
Sign In or Register to comment.