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Posted at 11:15 AM ET, 07/29/2011

Apple has more cash on hand than the U.S. Treasury


Apple has (Scott Eells - BLOOMBERG)

Putting the country’s financial position into perspective, The Financial Post’s Matt Hartley reported this stunning factoid Thursday night: Apple has more cash than the U.S. Treasury.

That’s right. The Treasury Department said Thursday that it has an operating balance of $73.768 billion, compared with the $76.156 billion in cash that Apple recorded on its latest earnings report.

Hartley was quick to point out that the numbers aren’t directly comparable, since the Treasury’s number represents how much money the government has before hitting the debt ceiling, while Apple’s cash holdings represent all the money it has available on its balance sheet.

However, as Fortune’s Philip Elmer-DeWitt pointed out, Apple also actually sees profits and spends its money at a much lower rate than the government.

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By  |  11:15 AM ET, 07/29/2011

Tags:  Apple, Politics and Policy

 
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