Apple in the linked press release:
Apple today announced a new set of investments to build on its commitment to support the American economy and its workforce, concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store. Apple is already responsible for creating and supporting over 2 million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today.
Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products.
Those numbers are massive. So massive. The biggest of which is that $252 billion offshore cash reserve (which was larger than the cash reserves of the British government and the Bank of England, apparently).
On that offshore cash reserve topic:
Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made.
According to this report by 9to5Mac back in December 2017, the repatriation of $252 billion would have cost Apple somewhere around $88 billion in tax on repatriation prior to the recent tax changes.
Update: Apple is going to repatriate about $245 billion, not $252 billion. Meaning the following gain is slightly smaller than $50 billion.
I want to be friends with the individual who insisted Apple wait on cash repatriation. A $50 billion gain on tax assets is sure to partly flow quite nicely to the genius who preached patience in all those (assumed) tense board meetings.
Kudos to Apple for a) sticking to its guns and making sound business and financial decisions and b) for pouring its earnings back into the country where it finds its roots.