Over the years, a large number of the major corporations in the US have chosen to keep some of their financial overseas, in particular as a way to avoid certain taxes. Other companies have chosen to keep their foreign revenues outside the US borders because bringing it into the country would involve immense expenses. Until the Government will further discuss the issue of repatriating these large sums of money, chances are US’s multi-national corporations will continue to deposit their revenues in overseas accounts.
Following, we would like to provide you with a list we have compiled of the top 10 companies in the US with the most money parked overseas, according to the statistics recently released by Goldman Sachs Group Inc (NYSE:GS). Goldman took a look at some of the biggest corporations in the US and came up with a list totaling 50 companies, which have over $1.3 trillion in foreign accounts in between them.
Curious to see which companies prefer keeping their nest eggs parked overseas? Let’s take a look at the countdown.
No. 10: Apple Inc. (NASDAQ:AAPL)
Sector: Information Technology
Market capital: $420 billion
Permanently reinvested overseas earnings (value): $40 billion
Permanently reinvested overseas earnings (yearly change): 73%
No. 9: Cisco Systems, Inc. (NASDAQ:CSCO)
Sector: Information Technology
Market capital: $135 billion
Permanently reinvested overseas earnings (value): $41 billion
Permanently reinvested overseas earnings (yearly change): 13%
No. 8: Citigroup Inc (NYSE:C)
Sector: Finance and banking
Market capital: $157 billion
Permanently reinvested overseas earnings (value): $43 billion
Permanently reinvested overseas earnings (yearly change): 19%
No. 7: Exxon Mobil Corporation (NYSE:XOM)
Sector: Energy
Market capital: $418 billion
Permanently reinvested overseas earnings (value): $43 billion
Permanently reinvested overseas earnings (yearly change): 9%
No. 6: International Business Machines Corp. (NYSE:IBM)
Sector: Information Technology
Market capital: $218 billion
Permanently reinvested overseas earnings (value): $44 billion
Permanently reinvested overseas earnings (yearly change): 17%
No. 5: Johnson & Johnson (NYSE:JNJ)
Sector: Health care
Market capital: $262 billion
Permanently reinvested overseas earnings (value): $49 billion
Permanently reinvested overseas earnings (yearly change): 18%
No. 4: Merck & Co., Inc. (NYSE:MRK)
Sector: Health care
Market capital: $146 billion
Permanently reinvested overseas earnings (value): $53 billion
Permanently reinvested overseas earnings (yearly change): 21%
No. 3: Microsoft Corporation (NASDAQ:MSFT)
Sector: Information Technology
Market capital: $263 billion
Permanently reinvested overseas earnings (value): $61 billion
Permanently reinvested overseas earnings (yearly change): 36%
No. 2: Pfizer Inc. (NYSE:PFE)
Sector: Health care
Market capital: $197 billion
Permanently reinvested overseas earnings (value): $73 billion
Permanently reinvested overseas earnings (yearly change): 16%
No. 1: General Electric Company (NYSE:GE)
Sector: Industrials
Market capital: $253 billion
Permanently reinvested overseas earnings (value): $108 billion
Permanently reinvested overseas earnings (yearly change): 6%
