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 | |||||
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 | ||||
Microsoft | 5,271 | 23,149 | 2,621 | 19,751 | 6,090 | 18,507 | 13,982 | 61,407 | 22.8% | 142.0 | ||||
Amazon | 1,671 | 3,892 | 869 | 1,568 | 483 | (111) | 3,023 | 5,349 | 56.5% | |||||
2,758 | 12,518 | 3,318 | 6,194 | 2,225 | 4,910 | 8,301 | 23,622 | 35.1% | 2.9 | |||||
Berkshire Hathaway | 6,565 | 33,667 | 5,426 | 34,946 | 3,302 | 28,105 | 15,293 | 96,718 | 15.8% | 12.4 | ||||
Johnson & Johnson | 3,604 | 19,803 | 4,057 | 19,196 | 3,799 | 20,563 | 11,460 | 59,562 | 19.2% | 66.2 | ||||
Exxon Mobil | 3,842 | 7,969 | 7,126 | 21,966 | 16,211 | 51,630 | 27,179 | 81,565 | 33.3% | 54.0 | ||||
JPMorgan Chase | 5,152 | 34,536 | 4,927 | 30,702 | 4,592 | 30,699 | 14,671 | 95,937 | 15.3% | 38.4 | ||||
Wal-Mart | 5,459 | 20,497 | 7,584 | 21,638 | 8,504 | 24,799 | 21,547 | 66,934 | 32.2% | 26.6 | ||||
Bank of America | 1,406 | 25,153 | 3,310 | 22,070 | 1,296 | 7,963 | 6,012 | 55,186 | 10.9% | 17.8 | ||||
Wells Fargo | 8,282 | 32,120 | 12,630 | 33,641 | 7,953 | 33,915 | 28,865 | 99,676 | 29.0% | 2.4 | ||||
Visa | 3,297 | 11,694 | 2,799 | 8,012 | 2,459 | 8,995 | 8,555 | 28,701 | 29.8% | 12.9 | ||||
Procter & Gamble | 3,015 | 13,257 | 3,380 | 13,369 | 3,521 | 11,012 | 9,916 | 37,638 | 26.3% | 49.0 | ||||
Chevron | 2,106 | (2,160) | 1,993 | 4,842 | 10,319 | 31,202 | 14,418 | 33,884 | 42.6% | 46.4 | ||||
AT&T | 3,532 | 19,812 | 2,888 | 20,692 | 1,671 | 10,355 | 8,091 | 50,859 | 15.9% | |||||
Pfizer | 1,822 | 8,351 | 2,010 | 8,965 | 2,799 | 12,240 | 6,631 | 29,556 | 22.4% | 86.0 | ||||
Intel | 2,088 | 12,936 | 3,710 | 14,212 | 4,381 | 15,801 | 10,179 | 42,949 | 23.7% | 46.4 | ||||
UnitedHealth Group | 4,709 | 11,863 | 4,436 | 10,231 | 4,154 | 9,656 | 13,299 | 31,750 | 41.9% | |||||
Oracle | 2,668 | 11,517 | 2,646 | 11,442 | 3,444 | 12,834 | 8,758 | 35,793 | 24.5% | 47.5 | ||||
Home Depot | 4,647 | 12,491 | 3,990 | 11,021 | 3,515 | 9,976 | 12,152 | 33,488 | 36.3% | 4.2 | ||||
Coca Cola | 2,442 | 8,136 | 2,166 | 9,605 | 2,241 | 9,325 | 6,849 | 27,066 | 25.3% | 35.5 | ||||
Verizon | 8,441 | 20,986 | 6,349 | 28,240 | 3,406 | 15,270 | 18,196 | 64,496 | 28.2% | 2.3 | ||||
Citigroup | 4,985 | 21,477 | 4,646 | 24,826 | 3,850 | 14,701 | 13,481 | 61,004 | 22.1% | 47.0 | ||||
Cisco Systems | 2,802 | 12,287 | 2,375 | 12,920 | 2,243 | 11,201 | 7,420 | 36,408 | 20.4% | 71.1 | ||||
PepsiCo | 2,120 | 8,553 | 1,981 | 7,442 | 2,425 | 8,757 | 6,526 | 24,752 | 26.4% | 44.9 | ||||
Comcast | 3,864 | 14,353 | 4,001 | 13,372 | 2,708 | 12,465 | 10,573 | 40,190 | 26.3% | |||||
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 | ||||
Boeing | 1,341 | 5,568 | 2,245 | 7,155 | 836 | 7,137 | 4,422 | 19,860 | 22.3% | 0.9 | ||||
General Electric | (1,278) | 9,030 | 6,103 | 8,186 | 1,655 | 10,263 | 6,480 | 27,479 | 23.6% | 82.0 | ||||
Walt Disney | 4,078 | 13,788 | 3,833 | 14,868 | 5,040 | 13,868 | 12,951 | 42,524 | 30.5% | 4.7 | ||||
AbbVie | 2,727 | 7,884 | 1,349 | 6,645 | 975 | 2,369 | 5,051 | 16,898 | 29.9% | 29.0 | ||||
Merck | 2,239 | 4,659 | 1,706 | 5,401 | 7,949 | 17,283 | 11,894 | 27,343 | 43.5% | 63.1 | ||||
IBM | 1,418 | 12,330 | 1,908 | 15,945 | 4,500 | 19,986 | 7,826 | 48,261 | 16.2% | 71.4 | ||||
3M Co | 2,000 | 7,053 | 2,005 | 6,823 | 2,219 | 7,026 | 6,224 | 20,902 | 29.8% | 14.0 | ||||
McDonald's | 2,718 | 6,866 | 2,028 | 6,556 | 2,705 | 7,372 | 7,451 | 20,794 | 35.8% | 16.0 | ||||
NVIDIA | 42 | 1,905 | (17) | 743 | 26 | 755 | 51 | 3,403 | 1.5% | 3.1 | ||||
Altria Group | 4,489 | 21,852 | 2,967 | 8,078 | 2,833 | 7,774 | 10,289 | 37,704 | 27.3% | |||||
Amgen | 1,225 | 9,163 | 1,441 | 7,978 | 503 | 5,585 | 3,169 | 22,726 | 13.9% | 36.6 | ||||
Honeywell | 1,525 | 6,447 | 1,424 | 6,586 | 1,357 | 5,818 | 4,306 | 18,851 | 22.8% | 18.3 | ||||
Broadcom Ltd | 224 | (1,107) | 296 | 1,467 | 125 | 342 | 645 | 702 | 91.9% | |||||
Medtronic | 1,454 | 4,602 | 1,275 | 4,336 | 1,630 | 3,486 | 4,359 | 12,424 | 35.1% | 31.8 | ||||
QUALCOMM | 1,331 | 3,020 | 1,419 | 6,833 | 1,244 | 6,487 | 3,994 | 16,340 | 24.4% | 39.0 | ||||
Bristol-Myers Squibb | 1,612 | 5,915 | 793 | 2,077 | 894 | 2,381 | 3,299 | 10,373 | 31.8% | 25.7 | ||||
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% | |||||||||||
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 Large Companies | Tax | Pretax | Tax | Pretax | Tax | Pretax | Tax | Pretax | Income | That Can Be | ||||
Stock Mkt Caps of $50-100 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 | |||||
Texas Instruments | 1,299 | 4,930 | 1,117 | 4,216 | 920 | 3,874 | 3,336 | 13,020 | 25.6% | 9.0 | ||||
Paypal Holdings | 178 | 1,631 | 133 | 1,488 | 162 | 1,261 | 473 | 4,380 | 10.8% | 3.4 | ||||
Adobe Systems | 169 | 1,435 | 242 | 874 | 83 | 361 | 494 | 2,670 | 18.5% | 4.2 | ||||
Priceline Group | 690 | 2,713 | 638 | 3,128 | 536 | 2,989 | 1,864 | 8,830 | 21.1% | 13.0 | ||||
Netflix | 121 | 261 | 78 | 142 | 113 | 349 | 312 | 752 | 41.5% | 0.1 | ||||
salesforce.com | 77 | 25 | 111 | 64 | 53 | (213) | 241 | (124) | NM | |||||
Danaher | 842 | 2,611 | 477 | 2,039 | 246 | 2,086 | 1,565 | 6,736 | 23.2% | 23.0 | ||||
Applied Materials | 313 | 2,013 | 351 | 1,598 | 394 | 1,448 | 1,058 | 5,059 | 20.9% | 5.3 | ||||
Micron Technology | (153) | 5,196 | (28) | (281) | (88) | 2,609 | (269) | 7,524 | -3.6% | 12.9 | ||||
Activision Blizzard | 151 | 1,106 | 240 | 1,121 | 196 | 981 | 587 | 3,208 | 18.3% | 5.1 | ||||
Abbott Labs | 477 | 1,413 | 284 | 3,183 | 495 | 2,518 | 1,256 | 7,114 | 17.7% | 24.0 | ||||
Nike | 919 | 4,886 | 943 | 4,623 | 1,045 | 4,205 | 2,907 | 13,714 | 21.2% | 12.2 | ||||
Kraft Heinz Co | 1,410 | 5,023 | 683 | 1,013 | 305 | 803 | 2,398 | 6,839 | 35.1% | 4.7 | ||||
United Parcel Service | 1,582 | 5,136 | 1,958 | 7,342 | 1,220 | 4,637 | 4,760 | 17,115 | 27.8% | 5.5 | ||||
Accenture | 1,345 | 4,616 | 1,188 | 5,604 | 1,596 | 4,411 | 4,129 | 14,631 | 28.2% | 1.5 | ||||
Gilead Sciences | 3,743 | 17,097 | 3,938 | 21,659 | 3,047 | 14,856 | 10,728 | 53,612 | 20.0% | 37.6 | ||||
United Technologies | 1,299 | 7,133 | 1,449 | 6,467 | 1,841 | 8,712 | 4,589 | 22,312 | 20.6% | 31.0 | ||||
Union Pacific | 1,702 | 6,766 | 2,119 | 7,656 | 2,268 | 8,343 | 6,089 | 22,765 | 26.7% | |||||
Reynolds American | 3,231 | 9,691 | 3,790 | 6,384 | 997 | 2,262 | 8,018 | 18,337 | 43.7% | 0.1 | ||||
Eli Lilly | 197 | 3,374 | 1,130 | 2,790 | 573 | 3,000 | 1,900 | 9,164 | 20.7% | 28.0 | ||||
Lockheed Martin | 1,383 | 4,886 | 1,612 | 4,299 | 1,783 | 4,677 | 4,778 | 13,862 | 34.5% | |||||
Goldman Sachs | 2,355 | 10,304 | 2,270 | 8,778 | 3,385 | 12,357 | 8,010 | 31,439 | 25.5% | 31.2 | ||||
Morgan Stanley | 1,148 | 8,848 | 1,006 | 8,495 | 150 | 3,591 | 2,304 | 20,934 | 11.0% | 12.0 | ||||
US Bancorp | 2,922 | 8,105 | 2,302 | 8,030 | 2,219 | 7,995 | 7,443 | 24,130 | 30.8% | |||||
Schlumberger | 101 | (1,905) | 1,187 | 2,881 | 2,149 | 7,639 | 3,437 | 8,615 | 39.9% | 3.0 | ||||
Dow Chemical | 1,268 | 4,413 | 1,842 | 9,930 | 960 | 5,265 | 4,070 | 19,608 | 20.8% | 18.7 | ||||
Charter Communications | 33 | 820 | 5 | (331) | 3 | 53 | 41 | 542 | 7.6% | |||||
Celgene | 717 | 2,373 | 455 | 2,024 | 600 | 2,327 | 1,772 | 6,724 | 26.4% | 13.3 | ||||
Caterpillar | 623 | 139 | 1,223 | 3,439 | 1,646 | 3,152 | 3,492 | 6,730 | 51.9% | 16.0 | ||||
American Express | 2,793 | 8,096 | 2,858 | 7,938 | 2,812 | 8,991 | 8,463 | 25,025 | 33.8% | 10.4 | ||||
Starbucks | 1,318 | 4,318 | 1,089 | 4,199 | 1,123 | 3,903 | 3,530 | 12,420 | 28.4% | 3.7 | ||||
Thermo Fisher Scientific | 638 | 2,024 | 556 | 1,936 | 884 | 2,087 | 2,078 | 6,047 | 34.4% | 12.5 | ||||
BlackRock | 1,304 | 4,460 | 1,406 | 4,602 | 1,235 | 4,395 | 3,945 | 13,457 | 29.3% | 5.3 | ||||
Costco | 1,352 | 4,039 | 974 | 3,619 | 1,296 | 3,604 | 3,622 | 11,262 | 32.2% | 3.2 | ||||
NextEra Energy | 148 | 4,388 | 41 | 3,990 | (29) | 3,645 | 160 | 12,023 | 1.3% | |||||
Dupont | 643 | 3,265 | 691 | 2,591 | 1,143 | 4,313 | 2,477 | 10,169 | 24.4% | 17.4 | ||||
CVS Health | 3,314 | 8,637 | 3,620 | 8,616 | 3,076 | 7,678 | 10,010 | 24,931 | 40.2% | |||||
Walgreen's Boots Alliance | 1,194 | 4,853 | 1,426 | 5,144 | 1,095 | 5,311 | 3,715 | 15,308 | 24.3% | NA | ||||
Chubb Ltd | 824 | 4,950 | 304 | 3,296 | 481 | 3,487 | 1,609 | 11,733 | 13.7% | NA | ||||
Time Warner | 1,045 | 5,195 | 1,323 | 5,446 | 619 | 4,679 | 2,987 | 15,320 | 19.5% | 1.6 | ||||
Allergan | 149 | (2,832) | 250 | (4,548) | (32) | (2,998) | 367 | (10,378) | NM | 7.8 | ||||
Lowe's | 2,099 | 5,201 | 1,936 | 4,419 | 1,696 | 4,276 | 5,731 | 13,896 | 41.2% | |||||
Biogen | 1,412 | 4,933 | 1,307 | 4,767 | 1,298 | 3,947 | 4,017 | 13,647 | 29.4% | 7.6 | ||||
Colgate-Palmolive | 1,081 | 3,738 | 1,334 | 2,763 | 1,157 | 3,533 | 3,572 | 10,034 | 35.6% | 3.4 | ||||
American Tower | 128 | 1,126 | 150 | 830 | 61 | 866 | 339 | 2,822 | 12.0% | 0.6 | ||||
General Motors | 530 | 11,684 | 860 | 7,718 | 802 | 4,246 | 2,192 | 23,648 | 9.3% | 6.5 | ||||
PNC Financial | 942 | 5,253 | 960 | 5,507 | 1,152 | 5,614 | 3,054 | 16,374 | 18.7% | |||||
Mondelez Intl | 270 | 1,454 | 623 | 7,884 | 539 | 2,554 | 1,432 | 11,892 | 12.0% | 19.8 | ||||
Charles Schwab | 1,089 | 2,993 | 839 | 2,279 | 819 | 2,115 | 2,747 | 7,387 | 37.2% | |||||
ConocoPhillips | 249 | (5,530) | 35 | (7,239) | 3,080 | 9,390 | 3,364 | (3,379) | NM | |||||
General Dynamics | 793 | 4,231 | 970 | 4,102 | 993 | 3,802 | 2,756 | 12,135 | 22.7% | 1.8 | ||||
EOG Resources | 54 | (1,558) | 85 | (6,922) | 375 | 4,995 | 514 | (3,485) | NM | |||||
FedEx | 642 | 4,579 | 785 | 2,740 | 1,111 | 1,627 | 2,538 | 8,946 | 28.4% | 2.1 | ||||
Stryker | 320 | 1,921 | 209 | 1,735 | 585 | 1,160 | 1,114 | 4,816 | 23.1% | 8.4 | ||||
Aetna | 1,791 | 3,991 | 1,909 | 4,236 | 1,317 | 3,500 | 5,017 | 11,727 | 42.8% | |||||
Anthem | 1,957 | 4,555 | 2,130 | 4,631 | 1,695 | 4,368 | 5,782 | 13,554 | 42.7% | |||||
Twenty-First Century Fox | 1,330 | 4,689 | 664 | 4,154 | 1,072 | 9,847 | 3,066 | 18,690 | 16.4% | 0.9 | ||||
Illinois Tool Works | 1,136 | 2,908 | 879 | 2,719 | 626 | 2,699 | 2,641 | 8,326 | 31.7% | 8.8 | ||||
Metlife | 677 | (195) | 1,150 | 7,470 | 732 | 8,804 | 2,559 | 16,079 | 15.9% | 5.4 | ||||
Raytheon | 748 | 3,030 | 789 | 2,787 | 850 | 2,983 | 2,387 | 8,800 | 27.1% | 0.7 | ||||
Bank of NY Mellon | 1,303 | 4,725 | 966 | 4,235 | 1,765 | 3,563 | 4,034 | 12,523 | 32.2% | 6.0 | ||||
Las Vegas Sands | 215 | 2,255 | 217 | 2,622 | 248 | 3,833 | 680 | 8,710 | 7.8% | 3.4 | ||||
Tesla | 55 | (746) | 11 | (876) | 9 | (285) | 75 | (1,907) | -3.9% | |||||
American Intl Group | 576 | (74) | 820 | 3,281 | 588 | 10,501 | 1,984 | 13,708 | 14.5% | 2.0 | ||||
Northrop Grumman | 675 | 2,923 | 331 | 2,790 | 711 | 2,937 | 1,717 | 8,650 | 19.8% | 0.1 | ||||
Occidental Petroleum | (145) | (1,664) | 42 | (9,476) | 2,863 | 1,541 | 2,760 | (9,599) | NM | 8.5 | ||||
Becton Dickinson | (50) | 976 | 636 | 1,074 | 318 | 739 | 904 | 2,789 | 32.4% | 9.6 | ||||
Monsanto | 580 | 2,886 | 667 | 1,991 | 1,152 | 3,161 | 2,399 | 8,038 | 29.8% | 4.2 | ||||
Southern Co | 1,076 | 3,480 | (210) | 3,629 | 268 | 3,008 | 1,134 | 10,117 | 11.2% | |||||
T-Mobile US | (47) | 2,327 | (11) | 978 | 44 | 413 | (14) | 3,718 | -0.4% | |||||
Cigna Corp | 1,062 | 2,979 | 1,229 | 3,327 | 1,232 | 3,304 | 3,523 | 9,610 | 36.7% | 2.5 | ||||
CME Group | 837 | 2,288 | 647 | 1,957 | 566 | 1,771 | 2,050 | 6,016 | 34.1% | |||||
Simon Property Group | 2,135 | 2,139 | 1,622 | - | 5,896 | 0.0% | ||||||||
Total all 73 | 68,249 | 259,925 | 70,240 | 249,735 | 72,324 | 282,077 | 210,813 | 791,737 | 26.6% | 479.0 | ||||
Annual WW Income Tax Rate Paid | 26.3% | 28.1% | 25.6% |
Tuesday, November 28, 2017
The 73 US Very Large Companies With Stock Market Caps of $50-100 Bil Posted Total Worldwide Consolidated Income Tax Rate Paid For the Most Recent 3 Years of 26.6%, Higher Than the 24.6% For That of the 45 US Very Largest Companies With Stock Market Above $100 Bil .................................................................................... The 73 US Very Large Companies With Stock Market Caps of $50-100 Bil Posted Total Worldwide Consolidated Income Tax Rate Paid For the Most Recent Year of 26.3%, Much Higher Than the 22.9% For That of the 45 US Very Largest Companies With Stock Market Above $100 Bil .................................................................................... Further, the Trump Tax Proposal is Flat Out Way Off Target in Helping the Very Largest, Most Profitable US Corporations So Much More Than It Helps US Companies Smaller Than the Very Largest US Corps .................................................................................... The 43% Drop in the Statutory US Corporate Rate From 35% to 20%, the Huge First Year Bonus Tax Depreciation For Many Years, the Substantial Reduction in the Existing Deferred Federal Income Tax Liability On the Books Now at 35%, the Magnitude of Cumulative Foreign Earnings ($1.507 Trillion For Stock Market Caps Above $100 Bil and $479 Bil For Stock Market Caps of $50-100 Bil) That Can Be Cheaply Repatriated and the Switch to the Territorial Tax System All Five Disproportionately Help the Most Profitable US Corps Over All Other US Companies of All Sizes: The Very Largest, Most Profitable US Corps Are Substantially More Likely To Get Much More of These Tax Benefits Included in the Trump Tax Proposal Than All Other US Companies
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 and also for the 73 very large US Companies all with Stock Market Caps between $50 Bil and $100 Bil, shown in Stock Market Cap order: