Taiwan Electronic Manufacturing Co Hon Hai Precision Industry Co Ltd (Hon Hai) With a Stock Market Cap of US$53 Bil Had 11% of Its 2016 Total Non-Current Assets in Taiwan But Less Than 1% of Its 2016 Total Revenues Were to Taiwan Customers ...................................................................................... Hon Hai Had a Massive 69% of Its 2016 Total Non-Current Assets Located in China But a Substantially Lower 7% of Its 2016 Total Revenues Were to China Customers ...................................................................................... Hon Hai Had a Miniscule Less Than 1% (or precisely 0.351%) of Its 2016 Total Non-Current Assets Located in the US But a Truly Amazingly High 31.5% of Its 2016 Total Revenues Were to US Customers ...................................................................................... And Hon Hai Had an Even More Miniscule Less Than 1% (or precisely 0.029%) of Its 2016 Total Non-Current Assets Located in Ireland But an Even More Truly Amazingly High 33.3% of Its 2016 Total Revenues Were to Ireland Customers ...................................................................................... And Financial Pundits Still Don't Understand Why Apple Had a Worldwide Effective Income Tax Rate of Only 24.6% in 2017? It's All About Creative Income Shifting and Apple's Ability To Influence Hon Hai

From Hon Hai's 2016 Annual Report