These 17 US companies have the biggest piles of cash
AP
American companies are hoarding cash like crazy.
In the second quarter of 2017, twenty-four of the largest American companies are holding on to a whopping $1.01 trillion in cash reserves, up 1.63% from the first quarter, according to analysis of second quarter earnings reports by Bank of America
Of the $1.01 trillion, just over 80% is held stashes outside the United States, with a hefty majority held in the form of corporate and treasury bonds.
"Because about 70% of 2Q inflows were invested in corporate bonds we see no evidence yet that corporate investors are making their cash portfolios more liquid ahead of the possible repatriation of overseas cash as part of tax reform or on a stand-alone basis," writes the bank.
Here's which US companies have the most cash on hand, how much of that is stored abroad, and how their stocks have performed so far this year:
17. Johnson & Johnson
Total cash: $12.9 billion
Overseas: N/A
Overseas as percentage of total: N/A
Sock performance this year: +15%
16. Procter & Gamble
Total cash: $15.1 billion
Overseas: N/A
Overseas as percentage of total: N/A
Sock performance this year: +10.11%
15. PepsiCo
Total cash: $17.2 billion
Overseas: $16.3 billion
Overseas as percentage of total: 94.8%
Sock performance this year: +12.96%
See the rest of the story at Business Insider
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