Tuesday, November 28, 2017

The 45 Largest US Companies With Stock Market Caps Above $100 Bil Have Consistently Lowered Their Total Consolidated Income Tax Rate Paid From 26.4% in 2014 to 24.4% in 2015 and to 22.9% in 2016 .................................................................................... They Have Done a Great Job Reducing Their Total Income Tax Rate Paid On Their Own and Don't Need the Trump Tax Proposal Reducing Their Total Income Tax Rates By Substantially More .................................................................................... Just 39 of These Companies Had Over $1.5 Trillion of Cumulative Foreign Earnings Mostly at Dec 31, 2016 Which Can Be Cheaply Repatriated Under the Trump Tax Proposal

Based on a review of their audited annual financial statements and income tax footnotes filed with the SEC, below is the Worldwide Consolidated Income Tax Paid and the related Worldwide Consolidated Pretax Income for the most recent three years, as well as the Cumulative Foreign Earnings, mostly at December 31, 2016, which can be repatriated for each of the 45 largest US Companies all with Stock Market Caps Above $100 Bil currently, shown in increasing Worldwide Consolidated Income Tax Rate Paid order: 










Total


Mostly









3 Years Total
3 Years At 12-31-16

2016
2015

2014

2014-16 3 Years
2014-16 Cumulative

WW 2016
WW 2015
WW 2014
WW 2014-16
WW Foreign

Income WW
Income WW
Income WW
Income WW
Effective Earnings
US Largest Companies Tax Pretax
Tax Pretax
Tax Pretax
Tax Pretax
Income  That Can Be
Stock Mkt Caps Above $100 Bil Paid Income
Paid Income
Paid Income
Paid Income
Rate Paid Repatriated
mils $s mils $s
mils $s mils $s
mils $s mils $s
mils $s mils $s
mils $s bils $s















NVIDIA            42       1,905
         (17)          743
           26          755
           51         3,403
1.5%             3.1
Bank of America       1,406     25,153
      3,310     22,070
      1,296       7,963
      6,012       55,186
10.9%           17.8
Amgen       1,225       9,163
      1,441       7,978
         503       5,585
      3,169       22,726
13.9%           36.6
JPMorgan Chase       5,152     34,536
      4,927     30,702
      4,592     30,699
    14,671       95,937
15.3%           38.4
Berkshire Hathaway       6,565     33,667
      5,426     34,946
      3,302     28,105
    15,293       96,718
15.8%           12.4
AT&T       3,532     19,812
      2,888     20,692
      1,671     10,355
      8,091       50,859
15.9%
IBM       1,418     12,330
      1,908     15,945
      4,500     19,986
      7,826       48,261
16.2%           71.4
Johnson & Johnson       3,604     19,803
      4,057     19,196
      3,799     20,563
    11,460       59,562
19.2%           66.2
Apple       9,772     64,089
    10,747     61,372
    17,739     72,515
    38,258     197,976
19.3%         128.7
Alphabet       4,792     24,150
      3,561     19,651
      3,647     17,259
    12,000       61,060
19.7%           60.7
Cisco Systems       2,802     12,287
      2,375     12,920
      2,243     11,201
      7,420       36,408
20.4%           71.1
Citigroup       4,985     21,477
      4,646     24,826
      3,850     14,701
    13,481       61,004
22.1%           47.0
Boeing       1,341       5,568
      2,245       7,155
         836       7,137
      4,422       19,860
22.3%             0.9
Pfizer       1,822       8,351
      2,010       8,965
      2,799     12,240
      6,631       29,556
22.4%           86.0
Microsoft       5,271     23,149
      2,621     19,751
      6,090     18,507
    13,982       61,407
22.8%         142.0
Honeywell       1,525       6,447
      1,424       6,586
      1,357       5,818
      4,306       18,851
22.8%           18.3
General Electric     (1,278)       9,030
      6,103       8,186
      1,655     10,263
      6,480       27,479
23.6%           82.0
Intel       2,088     12,936
      3,710     14,212
      4,381     15,801
    10,179       42,949
23.7%           46.4
QUALCOMM       1,331       3,020
      1,419       6,833
      1,244       6,487
      3,994       16,340
24.4%           39.0
Oracle       2,668     11,517
      2,646     11,442
      3,444     12,834
      8,758       35,793
24.5%           47.5
Coca Cola       2,442       8,136
      2,166       9,605
      2,241       9,325
      6,849       27,066
25.3%           35.5
Comcast       3,864     14,353
      4,001     13,372
      2,708     12,465
    10,573       40,190
26.3%
Procter & Gamble       3,015     13,257
      3,380     13,369
      3,521     11,012
      9,916       37,638
26.3%           49.0
PepsiCo       2,120       8,553           1,981       7,442
      2,425       8,757
      6,526       24,752
26.4%           44.9
Altria Group       4,489     21,852
      2,967       8,078
      2,833       7,774
    10,289       37,704
27.3%
Mastercard       1,607       5,646
      1,166       4,958
      1,552       5,079
      4,325       15,683
27.6%             4.0
Phillip Morris       2,586       9,924
      2,706       9,615
      3,159     10,650
      8,451       30,189
28.0%           23.0
Verizon       8,441     20,986
      6,349     28,240
      3,406     15,270
    18,196       64,496
28.2%             2.3
Wells Fargo       8,282     32,120
    12,630     33,641
      7,953     33,915
    28,865       99,676
29.0%             2.4
3M Co       2,000       7,053
      2,005       6,823
      2,219       7,026
      6,224       20,902
29.8%           14.0
Visa       3,297     11,694
      2,799       8,012
      2,459       8,995
      8,555       28,701
29.8%           12.9
AbbVie       2,727       7,884
      1,349       6,645
         975       2,369
      5,051       16,898
29.9%           29.0
Walt Disney       4,078     13,788
      3,833     14,868
      5,040     13,868
    12,951       42,524
30.5%             4.7
Bristol-Myers Squibb       1,612       5,915
         793       2,077
         894       2,381
      3,299       10,373
31.8%           25.7
Wal-Mart       5,459     20,497
      7,584     21,638
      8,504     24,799
    21,547       66,934
32.2%           26.6
Exxon Mobil       3,842       7,969
      7,126     21,966
    16,211     51,630
    27,179       81,565
33.3%           54.0
Medtronic       1,454       4,602
      1,275       4,336
      1,630       3,486
      4,359       12,424
35.1%           31.8
Facebook       2,758     12,518
      3,318       6,194
      2,225       4,910
      8,301       23,622
35.1%             2.9
McDonald's       2,718       6,866
      2,028       6,556
      2,705       7,372
      7,451       20,794
35.8%           16.0
Home Depot       4,647     12,491
      3,990     11,021
      3,515       9,976
    12,152       33,488
36.3%             4.2
UnitedHealth Group       4,709     11,863
      4,436     10,231
      4,154       9,656
    13,299       31,750
41.9%
Chevron       2,106     (2,160)
      1,993       4,842
    10,319     31,202
    14,418       33,884
42.6%           46.4
Merck       2,239       4,659
      1,706       5,401
      7,949     17,283
    11,894       27,343
43.5%           63.1
Amazon       1,671       3,892
         869       1,568
         483        (111)
      3,023         5,349
56.5%
Broadcom Ltd          224     (1,107)
         296       1,467
         125          342
         645            702
91.9%















Total all 45   142,450   621,641
  150,193   616,136
  168,179   638,205
  460,822  1,875,982
24.6%      1,507.9















Annual WW Income Tax Rate Paid 22.9%

24.4%

26.4%