Sunday, July 12, 2015

Companies With Substantial Operations in US But With HQs in Other Foreign Countries With Much Lower Tax Rates Than the US Generated 7 Year Audited Earnings 2008-2014 of $348 Bil

In recent earlier posts from SEC reviews, I laid out the Audited Earnings for Companies HQd in Ireland, The Netherlands and Singapore which had substantial operations in the US, which had their financial statements presented in US Dollars, and which also had market caps in excess of $100 mil.  In addition, I made earlier recent post on Bermuda and Israeli Companies which had their financial statements presented in US Dollars, and which also had market caps in excess of $100 mil.  Below here are these total numbers for these 5 foreign countries:

 7 Years 



2008-14

2014 Reported

Audited Audited
Net Net
Foreign Country  # of Income Income
Companies (Loss) (Loss)
mil $s mil $s




Ireland 28            15,827            81,547
Bermuda 50            20,150            75,758
The Netherlands 12            12,665            48,865
Israel 47               5,074            28,367
Singapore 3                  973                (626)




Total all 5 Countries 140            54,689          233,911


In this post, I have identified 52 similar Companies with substantial operations in the US and HQd in other Foreign Countries which had corporate income tax rates also much lower than that in the US.

Below here are these 52 Foreign HQd Companies:


 7 Years 




2008-14



2014 Reported


Most Audited Audited

Recent Net Net
Foreign Companies City 2014 Income Income
Filing With US SEC in US$s HQs FYE (Loss) (Loss)

mil $s mil $s





United Kingdom Companies



AstraZeneca plc London Dec                1,236              41,848
Carnival plc Southhampton Dec                1,236              11,616
Aon plc London Dec                1,431                6,682
Noble Corp plc London Dec                    (77)                5,294
Smith & Nephew plc London Dec                   501                3,811
Mylan NV Hertfordshire Dec                   933                3,136
Delphi Automotive plc Kent Dec                1,440                3,021
CNH Industrial NV Essex Dec                   708                2,926
Ensco plc London Dec               (2,689)                2,775
Amdocs Ltd Guernsey Sep                   422                2,621
InterContinental Hotels Group plc Buckinghamshire Dec                   392                2,520
Michael Kors Holdings Ltd London Dec                   881                2,212
Willis Group Holdings plc London Dec                   359                1,765
Pentair plc Manchester Dec                   607                1,608
Rowan Companies plc London Dec                  (119)                1,475
Matkit Ltd London Dec                   164                   863
New Steris Leicester Mar 15                   135                   850
CSR plc Cambridge Dec                     97                   135
Oxford Immunotec Global plc Abingdon Dec                    (22)                    (95)
OM Asset Management plc London Dec                    (45)                  (358)
Liberty Global London Dec                  (981)               (5,175)




   
Total all 21

               6,609              89,530




   
Canadian Companies


   
Brookfield Asset Management Toronto Dec                5,209              19,788
Cenovas Energy Calgary Dec                   744                8,304
Sun Life Financial Toronto Dec                1,762                7,364
Agrium Calgary Dec                   798                7,303
Magna International Aurora Dec                1,880                6,487
Thomson Reuters New York Dec                1,959                5,786
Fairfax Financial Holdings Ltd Toronto Dec                1,665                4,840
BlackBerry Ltd Waterloo Feb 15                  (304)                2,127
Gildan Activewear Montreal Sep                   360                1,501
Domtar Corp Montreal Dec                   431                1,401
lululemon athletica Vancouver Jan 15                   239                1,196
Brookfield Residential Properties Calgary Dec                   276                   740
Restaurant Brands Intl Inc Oakville Dec                  (277)                   350
Valeant Pharmaceuticals Intl Laval Dec                   912                   260




   
Total all 14

             15,654              67,447




   
Switzerland Companies


   
Novartis AG Basel Dec              10,727              63,925
ACE Ltd Zurich Dec                2,853              17,647
Credit Suisse Group AG Zurich Dec                2,222              11,432
TE Connectivity Ltd Schaffhausen Sep                1,789                4,812
Garmin Ltd Schaffhausen Dec                   364                4,061
Allied World Assurance Co Holdings Zug Dec                   490                3,132
Transocean Ltd Vernier Dec               (1,946)                1,547
Logitech Vaud Mar 15                       9                   226




   
Total all 8

             16,508            106,782




   
Cayman Islands Companies


   
Herbalife Ltd George Town Dec                   309                2,437
Greenlight Capital Re Ltd Grand Cayman Dec                   113                   556
Theravance Biopharma George Town Dec                  (237)                  (592)




   
Total all 3

                  185                2,401




   
Belgium


   
Anheuser Busch Inbev Leuven Dec              11,306              59,773




   
India


   
Infosys Ltd Bangalore Dec                2,013              11,298




   
Germany


   
Fresenius Medical Care AG Bad Homburg Dec                1,260                7,910




   
Liberia


   
Royal Caribbean Cruises Ltd Miami Dec                   764                3,105




   
Sweden


   
Autoliv Stockholm Dec                   469                2,853




   
Luxembourg


   
Intelsat SA Luxembourg Dec                   237               (3,085)





Grand Total all 52

             55,005            348,014



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