Apple's Irish math

From Alan Healy's "Apple receives €23.5bn in dividends from its Irish subsidiary" posted Friday by the Irish Examiner:

Apple’s main Irish company main paid dividends of $24.8bn (€23.5bn) to its parent company in the US last year, newly filed accounts show.

Apple Operations International (AOI) which is based in Hollyhill in Cork is the holding company for nearly all of the technology giant's non-US subsidiary companies...

AOI said revenues jumped to $211.1bn last year a 42.4% increase on the $148.2bn in sales recorded the previous year...

The accounts show the dividend paid for 2021 is down significantly on the $81.5bn paid in dividends for 2020. The accounts state that the dividends are subject to US tax.

My take: Let's review: Non-US revenues up 42%. Taxable dividends paid to US down 70%. Sounds like Tim Cook is parking cash in Ireland again, like he did before the 2004 repatriation tax holiday.

3 Comments

  1. Ken Cheng said:
    “Sounds like Tim Cook is parking cash in Ireland again”

    I’d say the reverse.

    “$81.5bn paid in dividends for 2020” on “$148.2bn in sales recorded”, seems like an accumulation, compared to 2021’s numbers.

    1
    May 6, 2022
  2. Michael Goldfeder said:
    Margrethe Vestager will be losing her mind when she reads this article and most certainly opening yet another investigation against Apple with the usual boorish language that: Apple is once again using deceptive practices to thwart the imposition of monstrous fines that I imposed to correct this type of abuse against the EU.

    1
    May 6, 2022

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