The Senate’s tax bill encourages companies to bring their cash back to the US — here’s which ones have the most overseas

  • The Senate passed the Tax Cuts and Jobs Act on Saturday.
  • The bill would allow US corporations to pay a 10% tax on deferred cash earnings and 5% on reinvested earnings.
  • Twenty-four of the largest US companies are sitting on $1.01 trillion in cash reserves – 80% of which is held overseas.

American companies are hoarding cash like crazy – but a huge chunk of that change isn’t held in the US.

Under the new tax bill that Senate Republicans passed in the early hours of Saturday morning, companies would be given the chance to bring home cash stored overseas at a one-time discounted repatriation rate.

In November, Bank of America analysts crunched the numbers on these overseas reserves. They estimate that 24 of the largest American companies are sitting on $1.01 trillion in cash – with 80% of those reserves held overseas.

As part of the proposed plan, companies would be allowed to pay a 10% tax on deferred cash (or cash-equivalent) earnings and 5% on reinvested earnings. S corporations are exempt, according to the nonprofit Tax Foundation. Here’s more:

“Corporations have eight years to pay the tax on deferred earnings. A minimum payment of 8 percent is required for the first five years, 15 percent for the sixth year, 20 percent for the seventh year, and 25 percent for the eighth year.”

Here’s which US companies have the most cash on hand, how much of that is stored abroad, and how their stocks have performed this year:


17. Johnson & Johnson

source
Markets Insider

Total cash: $12.9 billion

Overseas: N/A

Overseas as percentage of total: N/A

Stock performance this year: +21.37%


16. Procter & Gamble

source
Markets Insider

Total cash: $15.1 billion

Overseas: N/A

Overseas as percentage of total: N/A

Stock performance this year: +8.56%


15. PepsiCo

source
Markets Insider

Total cash: $17.2 billion

Overseas: $16.3 billion

Overseas as percentage of total: 94.8%

Stock performance this year: +12.54%


14. Pfizer

source
Markets Insider

Total cash: $21.3 billion

Overseas: $11.3 billion

Overseas as percentage of total: 53.1%

Stock performance this year: +10.88%


13. Amazon

source
Markets Insider

Total cash: $21.5 billion

Overseas: $7.3

Overseas as percentage of total: 34.0%

Stock performance this year: +52.12%


12. Merck

source
Markets Insider

Total cash: $24.1 billion

Overseas: $20.5 billion

Overseas as percentage of total: 85.1%

Stock performance this year: +2.71%


11. Intel

source
Markets Insider

Total cash: $25.9 billion

Overseas: $17.0 billion

Overseas as percentage of total: 65.6%

Stock performance this year: +22.31%


10. Coca-Cola

source
Markets Insider

Total cash: $27.2 billion

Overseas: $23.8 billion

Overseas as percentage of total: 87.5%

Stock performance this year: +10.44%


9. Gilead Sciences

source
Markets Insider

Total cash: $36.6 billion

Overseas: $30.8 billion

Overseas as percentage of total: 85.2%

Stock performance this year: +1.08%


8. Qualcomm

source
Markets Insider

Total cash: $37.8 billion

Overseas: $27.8 billion

Overseas as percentage of total: 73.5%

Stock performance this year: -1.56%


7. Amgen

source
Markets Insider

Total cash: $39.2 billion

Overseas: $37.4 billion

Overseas as percentage of total: 95.4%

Stock performance this year: +19.29%


6. General Electric

source
Markets Insider

Total cash: $44.1 billion

Overseas: $34.3 billion

Overseas as percentage of total: 77.8%

Stock performance this year: -43.12%


5. Oracle

source
Markets Insider

Total cash: $66.1 billion

Overseas: $54.4 billion

Overseas as percentage of total: 82.3%

Stock performance this year: +26.77%


4. Cisco

source
Markets Insider

Total cash: $68 billion

Overseas: $65.1 billion

Overseas as percentage of total: 95.7%

Stock performance this year: +27.34%


3. Alphabet

source
Markets Insider

Total cash: $94.7 billion

Overseas: $57.9

Overseas as percentage of total: 61.1%

Stock performance this year: Alphabet A shares: +30.44%, Alphabet C shares: +27.2%


2. Microsoft

source
Markets Insider

Total cash:$133.0 billion

Overseas: $127.9 billion

Overseas as percentage of total: 96.1%

Stock performance this year: +32.14%


1. Apple

source
Markets Insider

Total cash: $261.5 billion

Overseas: $246 billion

Overseas as percentage of total: 94.1%

Stock performance this year: +57.21%


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