Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Reveal Navigation

Apple's Enormous Cash Reserves Would Still Be Enormous if it Brought the Money H... Apple's Enormous Cash Reserves Would Still Be Enormous if it Brou... Apple's Enormous Cash Reserves Would Still Be Enormous if it Brought t... Apple's Enormous Cash Res...

share
This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Tech

Apple's Enormous Cash Reserves Would Still Be Enormous if it Brought the Money Home

(AP Photo/Reed Saxon)

photo of Brian Fung
May 21, 2013

 Click to see the data.

With Apple under scrutiny for what it did and didn't pay in taxes, there's one aspect of the company's finances that's getting little attention.

Even if Apple did the unthinkable and brought its $64 billion in international cash holdings back to the United States, the resulting tax bill would still leave the company with one of the largest cash hoards ever.

 

The company holds up to two-thirds of its liquid funds overseas, the result of a booming international business in iDevices. Apple's resisted repatriating that money because it's cheaper for CEO Tim Cook to park it in an Irish subsidary rather than to bring it home—much to the fury of Congress, which earlier this afternoon conducted an interrogation of Cook and his company's tax-avoidance tactics.

But how much would Apple owe, exactly? Let's run the math. We already know that at the end of April, Apple held $64 billion internationally in reserves. The corporate tax rate is 35 percent. If Apple brought all of that money home, the company would fork over $22.5 billion to the IRS. (For perspective, that's enough for the Pentagon to buy 5,000 Predator drones.) After paying the bill, Tim Cook would still be sitting on a massive pile of gold—$75.2 billion, to be exact.

 

You May Find These of Interest
Get us in your feed.
Job Board
Search Jobs
Watershed Resources Specialist
American Society of Civil Engineers | San Francisco, CA
Project Manager II
American Society of Civil Engineers | Memphis, TN
Manager of Engineering
American Society of Civil Engineers | Berkeley, CA
Mechanical Engineer - Dallas, TX
American Society of Civil Engineers | Dallas, TX
SENIOR STRUCTURAL ENGINEER / ENGINEERING PRODUCTION MANAGER
American Society of Civil Engineers | Boulder, CO
Senior GCP Auditor
American Society of Civil Engineers | San Francisco, CA
Structural Engineer
American Society of Civil Engineers | Orlando, FL
Construction Engineering
American Society of Civil Engineers | Chicago, IL
Concrete Testing Technician & Special Inspectors
American Society of Civil Engineers | New York, NY
SharePoint Specialist - Englewood, CO
American Society of Civil Engineers | Englewood, CO
Construction Engineer
American Society of Civil Engineers | Cleveland, OH
Rail Vehicle Mechanical Engineer - Elmira, NY
American Society of Civil Engineers | Philadelphia, PA
Structural Engineer
American Society of Civil Engineers | Chicago, IL
Engineering Manager
American Society of Civil Engineers | Springfield, VA
 
Comments
comments powered by Disqus