Apple's growing cash hoard surges to $256.8 billion

As of the end of the March quarter, Apple held $256.8 billion cash on hand, with the vast majority of it held overseas awaiting possible repatriation tax reform — if the U.S. government is inclined to cooperate.

Of the $256.8 billion, Apple Chief Financial Officer Luca Maestri noted that $239 billion, or roughly 93 percent, is held in assorted countries overseas. Maestri also noted in the conference call that Apple would re-evaluate the repatriation situation, should the situation change.

Spanning two presidential administrations, Apple has been public about its desire for a repatriation holiday, to lessen the tax burden on cash returned from overseas coffers. President Trump has addressed the need for this in the past, but it is unclear if any reform will pass soon.

At the end of Apple's first fiscal quarter of 2017, Apple held $231 billion in overseas cash, out of its $246 billion total hoard. When asked about the possibility of more lenient tax policies for bringing funds back to America, CEO Tim Cook noted that it would be "very good for the country, and good for Apple" should it come to pass.

Previously, Cook said that Apple was always considering acquisition possibilities, and was "putting their toe in the water" on unique programming for Apple Music and iTunes.

"We've said at 40 percent, we're not going to bring it back until there's a fair rate," Apple CEO Tim Cook said in August 2016. "There's no debate about it. It is the current tax law. It's not a matter of being patriotic or not patriotic."

Apple is the largest taxpayer in the U.S.

Apple on Tuesday revealed it garnered $52.9 billion in revenue and posted year-over-year growth. However, the company once again saw iPhone sales shrink from the same period a year ago.

31 Comments

tyler82 18 Years · 1107 comments

About 7 years ago

With 93% being held overseas, guess who gets to make up the multi- billion (trillion?) $$ difference that Apple and other corporations are taking from the tax fund?

That's right: you, me, and the rest of the middle and working class.
Open up your wallets, suckers!

USA!

linkman 11 Years · 1041 comments

I'll pay the repatriation tax on the .1% of the $231 billion that Apple gives me.

radarthekat 12 Years · 3904 comments

tyler82 said:

With 93% being held overseas, guess who gets to make up the multi- billion (trillion?) $$ difference that Apple and other corporations are taking from the tax fund?

That's right: you, me, and the rest of the middle and working class.
Open up your wallets, suckers!

USA!

That's like saying, guess who gets to make up the difference that all those with a 401(k) are taking from the tax fund? You do realize it's substantially the same, right? You do understand that corporations holding their revenues earned overseas offshore is a tax deferral situation, not a tax avoidance situation. In THAT ASPECT the effect is EXACTLY the same as a worker stashing part of his pre-tax income in a 401(k) account, to defer paying taxes until a later date. Are you implying Americans with 401(k) accounts need to open up our wallets in opposition to the laws that allow us to defer taxes on our income, and in defiance of common sense and astute financial planning? Because if you are, then you are showcasing the real problem; that such people as yourself aren't savvy about finances. I would hope the vast majority of people understand personal finances better than that. Please tell us you do.

djsherly 15 Years · 1029 comments

radarthekat said:

tyler82 said:

With 93% being held overseas, guess who gets to make up the multi- billion (trillion?) $$ difference that Apple and other corporations are taking from the tax fund?

That's right: you, me, and the rest of the middle and working class.
Open up your wallets, suckers!

USA!

That's like saying, guess who gets to make up the difference that all those with a 401(k) are taking from the tax fund? You do realize it's substantially the same, right? You do understand that corporations holding their revenues earned overseas offshore is a tax deferral situation, not a tax avoidance situation. In THAT ASPECT the effect is EXACTLY the same as a worker stashing part of his pre-tax income in a 401(k) account, to defer paying taxes until a later date. Are you implying Americans with 401(k) accounts need to open up our wallets in opposition to the laws that allow us to defer taxes on our income, and in defiance of common sense and astute financial planning? Because if you are, then you are showcasing the real problem; that such people as yourself aren't savvy about finances. I would hope the vast majority of people understand personal finances better than that. Please tell us you do.

Yeah. But you don't get to lobby for a tax holiday like a company. Which is why all the money is off shore. It will stay there until holiday appears. Because it creates jobs and all. Trickle down effect and some such.

Dont be disingenuous.

davidw 17 Years · 2119 comments

tyler82 said:

With 93% being held overseas, guess who gets to make up the multi- billion (trillion?) $$ difference that Apple and other corporations are taking from the tax fund?

That's right: you, me, and the rest of the middle and working class.
Open up your wallets, suckers!

USA!

You, me and the rest of the middle and working class aren't making up squat. And neither are the rich, who pays most of the taxes. Corporate overseas profit are not taxed in the US, useless they are brought into the US. That is the US tax code. How can the taxes be made up, if it was never there? US tax money from corporate overseas profits is an illusion by those that don't understand the US tax codes. It doesn't exist and never will, until the US tax code changes or the corporations brings those overseas profit into the US.