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

    24 of the largest US companies are sitting on $1.01 trillion in cash reserves -80% of which is held overseas. The GOP tax plan includes a provision to entice these companies to ‘repatriate’ this money.

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

The Republican tax reform bill, introduced last week, is designed to entice companies to move their overseas cash back to the US through a one-time repatriation tax.

Business Insider’s Bob Bryan reports that the law would allow all overseas assets from US-owned companies to be repatriated and taxed at a one-time lower rate. While there is no precise number in the plan, officials have indicated the rate could end up somewhere around 10%.

In the second quarter of 2017, 24 of the largest American companies are holding on to a whopping $1.01 trillion in cash reserves, up 1.63% from the first quarter, according to analysis of second quarter earnings reports by Bank of America.

Of the $1.01 trillion, just over 80% is held outside the United States, with a hefty majority being in the form of corporate and treasury bonds.

“Because about 70% of 2Q inflows were invested in corporate bonds we see no evidence yet that corporate investors are making their cash portfolios more liquid ahead of the possible repatriation of overseas cash as part of tax reform or on a stand-alone basis,” writes the bank.

Here’s which US companies have the most cash on hand, how much of that is stored abroad, and how their stocks have performed so far 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: +15%


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: +10.11%


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: +12.96%


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: -0.45%


13. Amazon

source
Markets Insider

Total cash: $21.5 billion

Overseas: $7.3

Overseas as percentage of total: 34.0%

Stock performance this year: +26.06%


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: -4.22%


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: +9.34%


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: -2.17%


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: -20.97%


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: +11.26%


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: -22.57%


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: +25.59%


4. Cisco

source
Markets Insider

Total cash: $68 billion

Overseas: $65.1 billion

Overseas as percentage of total: 95.7%

Stock performance this year: -.01%


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: +14.21%

Alphabet C: +15.26


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: +14.93%


1. Apple

source
Markets Insider

Total cash: $261.5 billion

Overseas: $246 billion

Overseas as percentage of total: 94.1%

Stock performance this year: +36%


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