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? ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
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
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
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.