GE, Pfizer, Microsoft, Apple And Other Major US Corporations Are Parking More Cash Abroad To Avoid Paying Taxes or example, the Jedi master of avoiding U.S. taxation, General Electric Company (NYSE:GE), increased its tax-free cash accumulation to $108 billion, up from an estimated $94 billion in 2010. Microsoft Corporation (Nasdaq:MSFT) increased its stockpile to $61 billion, up 36 percent from 2011 and up from $30 billion in 2010. Apple Inc. (Nasdaq:AAPL) raised its ante to $40 billion, up 73 percent from 2011.
And here are some of the other egregious hoarders, according to the two analyses:
- Pfizer Inc. (NYSE
FE): $73 billion in overseas nontaxed liquid assets in 2012, up from $48 billion in 2010.
- Merck & Co. Inc. (NYSE:MRK): $53 billion, up from $40.4 billion in 2010.
- Johnson & Johnson: (NYSE:JNJ): $49 billion, up from $37 billion in 2010.
- Google: $33 billion in 2012.
- Devon Energy Corp (NYSE
VN): increased its offshore cash by 48 percent last year.
- Occidental Petroleum Corporation (NYSE:OXY): up 47 percent from 2011.
- Honeywell International Inc. (NYSE:HON): up 43 percent from 2011.