Apple’s Irish subsidiary paid $24.8 billion to Apple last year

Apple Operations International, the company’s main Irish subsidiary, paid $24.8 billion in dividends to Apple last year, according to new filings.

As reported by The Irish Examiner:

Apple’s main Irish company main paid dividends of $24.8bn (€23.5bn) to its parent company in the US last year, newly filed accounts show.

The figures reported come from Apple Operations International (AOI) based in Holyhill in Cork, operating as the holding company for nearly all of Apple’s non-US subsidiaries. The filings come from the financial year ending September 25, 2021.

According to the report, the dividend has fallen significantly from the 2020 figure $81.5 billion paid in 2020. Apple pays US tax on the dividend.

The filings also reveal revenues at AOI jumped to $211.1 billion up 42% from $148.2 billion the previous year. As the report notes Apple employees some 52,563 employees through AOI including more than 6,000 people in Cork. Profits for AOI also fell to $26 billion down from $70 billion in 2020.

Apple hosted its Q2 earnings call at the end of April, announcing some $89.6 billion in revenue thanks to the success of its best iPhone, the iPhone 13, and new burgeoning Apple silicon products, as well as very strong service revenues. CEO Tim Cook said, “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”