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26 Companies Paid CEOs > They Paid in Taxes

Posted By Barry Ritholtz On August 18, 2012 @ 12:00 pm In Corporate Management,Taxes and Policy,Wages & Income | Comments Disabled

Astonishing assembly of data, from AP via the Daily Mail [1]:

“Twenty-six big US companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank.

The study, by the Institute for Policy Studies, said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 million last year while paying little or no federal tax on ample profits, according to regulatory filings.

Astonishingly, nearly all of the the companies received a net tax refunds of up to $1billion. Others had a tax bill of $0.

On average, the 26 companies generated net income of more than $1 billion in the US, the study said.”

Taxes, why would we pay any stinking taxes . . . ?

The Institute for Policy Studies lists these 26 companies that paid their CEOs more than they paid the federal government in taxes:

Company CEO CEO pay Taxes Profits
Abbott Laboratories Miles D White $19million $586million refund $4.73billion
AMD Rory P Read $15.6million $3million refund $491million
Altera John P Daane $29.6million $22million $771million
AIG Robert Benmosche $14million $208million refund $17.8billion
Anadarko Petroleum James T Hackett $19.5million $381million refund $2.65billion
AT&T Randall Stephenson $18.7million $420million refund $3.94billion
Boeing James McNerney Jr $18.4million $605 refund $4.02billion
Broadcom Scott A McGregor $16.1million $0 $927million
Chesapeake Energy Aubrey McClendon $17.9million $13million $1.74billion
Citigroup Vikram S Pandit $14.9million $144million refund $11.02billion
Cooper Industries Kirk S Hachigian $21.1million $29million refund $828million
Danaher H Lawrence Culp Jr $21.7million $6million refund $2.17billion
Devon Energy John Richels $13.9million $143million refund $4.7billion
FirstEnergy Anthony J Alexander $14.4million $243million refund $885million
Ford Motors Alan Mulally $29.5million $4million refund $20.21billion
Halliburton David J Lesar $15.8million $1.03billion refund $2.84billion
International Paper John V Faraci $13.9million $78million refund $1.34billion
Leucadia National Ian Cumming $28.2million $0 $68million
Marathon Oil Clarence P Cazalot $29.9million $210million refund $2.95billion
Marsh & McLennan Brian Duperreault $14.3million $7million $993million
Motorola Mobility Sanjay K Jha $47.2million $0 $249million loss
Motorola Solutions Gregory Q Brown $29.3million $2million $1.16billion
Newell Rubbermaid Michael B Polk $18.9million $37million refund $125million
Salesforce.com Marc R Benioff $17.7million $9million $11million loss
Travelers Companies Jay S Fishman $15.8million $176million refund $1.43billion
Tyco International Edward D Breen $16.5million $4million refund $17.36billion

 

Source:
Revealed: The 26 ‘kingpin’ corporations that paid their CEOs more than they paid in taxes… and for most the public paid THEM a refund [1]
Associated Press, 10:05 EST, 16 August 2012
http://www.dailymail.co.uk/news/article-2189264/Institute-Policy-Studies-26-companies-paid-CEO-paid-taxes.html


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[1] the Daily Mail: http://www.dailymail.co.uk/news/article-2189264/Institute-Policy-Studies-26-companies-paid-CEO-paid-taxes.html

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