United States Senate
PERMANENT SUBCOMMITTEE ON INVESTIGATIONS
Committee on Homeland Security and Governmental AffairsCarl Levin, ChairmanTom Coburn, Ranking Minority Member
E X H I B I T L I S T
Offshore Profit Shifting and the U.S. Tax Code
September 20, 2012
1.a.Memorandum from Permanent Subcommittee on Investigations. b.
Corporate Income Tax as a Percent of Total Revenue
, chart prepared by the PermanentSubcommittee on Investigations.c.
Undistributed Foreign Earnings, 2001-2010, S&P 500
, chart prepared by thePermanent Subcommittee on Investigations, Source: Credit Suisse.d.
2011 Microsoft Intellectual Property Payments (Puerto Rico)
, chart prepared by thePermanent Subcommittee on Investigations.e.
2011 Microsoft Intellectual Property Payments (Two Examples)
, chart prepared by thePermanent Subcommittee on Investigations.f.
Hewlett-Packard Offshore Alternating Loan Program
, chart prepared by the PermanentSubcommittee on Investigations.g.
Impact of Check the Box
, chart prepared by the Permanent Subcommittee onInvestigations.h.
Summary of CFC Cash Pool Loans to HP Co. US - Fiscal Year 2009
, prepared by thePermanent Subcommittee on Investigations.2.Charts prepared by Jack Ciesielski, R.G. Associates, Inc.:a.
S&P 500: Cumulative Indefinitely Reinvested Earnings, 2004-2008.
S&P 500: Cumulative Indefinitely Reinvested Earnings, 2001 Vs. 2006
.3.Documents related to Hewlett-Packard:a.Hewlett-Packard
E&P and Tax for Materials Entities (FY10).
Short Term Liquidity Update,
including slides entitled,
Offshore cash pools
Access to offshore cash
, dated October 7, 2008.c.
Hewlett-Packard Co. Repatriation History
, including slides entitled,
Hewlett-Packard Company Cash Profile,
dated May 23, 2011.e.Hewlett-Packard spreadsheet of inter-comany loans for FY 2009-2011.f.
Hewlett-Packard Company Historical APB 23 Summary.
g.Hewlett-Packard Average Alternating Loan Summary for FY 2010-2012.h.Excerpt from Hewlett-Packard 2011
Walkthrough Template - SOX Process Review.
i.Hewlett-Packard/KPMG email, dated March 2010, re:
apb 23 question.
US Cash Forecast, FY 11.
k.Hewlett-Packard/Sandford C. Bernstein & Co. email, dated June 2006, re: