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:










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%
Facebook       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%