Feeds

Apple has THREE TIMES as much cash as US govt, TWICE the UK

Don't expect much of that to make its way into US coffers anytime soon

Boost IT visibility and business value

Apple has three times as much cash on hand as The US government, and over twice as much as the UK.

These figures come to us from the Bank of America's wealth-management arm, US Trust, as reported by London's Telegraph.

In its most recent quarterly SEC filing, Apple reported that it had $158.8bn (£94.9bn) in cash and cash equivalents plus short- and long-term securities. US Trust reports that the cash-strapped American government has reserves of just $48.5bn (£29bn), while the folks in Blighty are doing rather better with reserves of $70.3bn (£42bn).

Microsoft is also in a better cash position than both the US and the UK, with reserves of $83.7bn (£50bn), US Trust reports. But that's just a smidgen over half of Apple's hoard – and, your humble Reg reporter gloats, below that of his own ancestral home of Poland, which is sitting on $98.8bn (£59bn – or, more properly, 296.9bn).

According to the Telegraph, "Non-financial US firms had a staggering £956bn ($1,600bn) to spend at the end of 2013, a 100 per cent increase in their cash balances from 2007."

While Apple may have the heftiest load o' cash in the known world, Microsoft keeps a far greater proportion of its reserves outside of the US to avoid US taxes. According to a report by Bloomberg last month, Microsoft has $76.4bn offshore, while Apple's offshore profit holdings stand at $54.4bn. That's 91 per cent for Redmond and 34 per cent for Cupertino.

All told, Bloomberg reports, US companies hold $1.95tr – that's trillion, with a "t" – offshore, an increase of $206bn over the previous year. General Electric, by the way, is the top offshore tax trickster, with a full $110bn being held outside the US.

Bottom line: US companies are flush with cash, and great gobs of that gelt are sitting offshore to avoid a tax system the current US Congress appears too paralyzed to overhaul completely. Relations between lawmakers on either side of the House are currently too fractious to orchestrate any sort of repatriation strategy.

What's wrong with this picture? ®

Maximizing your infrastructure through virtualization

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.