Apple's Irish subsidiary profit rises to $69.3 billion

The Cork-based group paid dividends of $20.7 billion to its parent company

The production line at Apple's Cork factory in Ireland. Photo: Apple
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Apple's main Irish-registered company made pre-tax profits of $69.3 billion last year, as its income soared to $222.8 billion, company filings show.

The pre-tax profit reported by Apple Operations International and its international subsidiaries surpassed the $67.7 billion recorded a year earlier. That group of Apple companies incurred operating expenses of $26.9 billion in the year ending last September.

The group paid dividends of $20.7 billion to its parent company Apple, down from $25.3 billion a year earlier.

The iPhone maker has had a presence in Ireland since 1980 and has grown into one of the country’s largest employers.

The group’s average number of full-time employees in 2022 was 56,639, about 4,000 more than in 2021.

In May last year, Apple said it planned to expand its Cork campus in Ireland with the construction of a new building to accommodate about 1,300 workers.

It has also faced controversy over its tax arrangements in the country after the European Commission ordered it to pay €13.1 billion ($14.3 billion) in taxes to the Irish state, a decision that was later annulled but is being appealed.

An adjusted amount of €12.7 billion, excluding interest, is funded into escrow and is pending the conclusion of all legal proceedings, Apple said.

Updated: April 08, 2023, 4:30 AM