Emerson Electric Co. has $2 billion of cash in the bank. But this year it had to borrow money in the U.S. to help buy back shares, distribute dividends and even pay its taxes.
艾默生电气公司(Emerson Electric Co.)在银行存有20亿美元现金。但今年该公司在美国不得不借钱用于回购股票、发放股息甚至是缴纳税款。
That's because 'substantially all' of Emerson's cash is in Europe and Asia, according to the company's filings with securities regulators. The maker of power-plant and data-center equipment could always bring that cash back home, but it would be taxed at the 35% rate on corporate profits minus whatever tax it has already paid overseas.
据该公司提交给证券监管机构的备案文件显示,这是因为艾默生绝大部分现金都在欧洲和亚洲。这家发电厂及数据中心设备生产商随时可以将这些现金转回美国国内,但公司利润减去已经在海外缴纳的税款后需按35%的税率缴税。
As a result, Emerson says, it brings its foreign cash holdings back to the U.S. only if that can be 'accomplished tax efficiently.' In its most recent fiscal year, that meant bringing back just $500 million, then using debt to cover other obligations.
因此,艾默生说,只有在考虑缴税后不亏太多的情况下,该公司才会把海外现金资产转回美国。在最近一个财年,这意味着它只能带回五亿美元,然后通过发债来满足其他现金需要。
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