But also, considering the large chunk that is held overseas, that’s a lot of money that the US is not able to tax.
Apple doesn’t have to pay US taxes on those $240 billion as long as it keeps it abroad. It saved some $36 billion in 2016, when the total cash hoard was smaller, at $216 billion.
Apple is not alone. Other companies avoid taxes by keeping an estimate of some $2 trillion outside the US.
They might not be convinced to bring that money back even if president Donald Trump’s tax plan gets approved. Among other reasons, some tax rates abroad (like in Ireland, for Apple) would still be more attractive.