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

Providing a secure and efficient Helpdesk

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? ®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.