Controlled Foreign Corporations, 1996

For 1996, the 7,500 largest (in total assets)foreign corporations controlled by large (morethan $500 million in total assets) U.S. multina-tional corporations held $2.7 trillion in assets and reported receipts of $1.7 trillion. These amounts reflect increases from 1994 of 35.4 and 24.6 percent, respectively [1]. More than two-thirds of the largest 7,500 Con-trolled Foreign Corporations (CFC’s) were concen-trated in two industrial divisions, manufacturing, and finance, insurance, and real estate [2]. These two industrial divisions accounted for 83.1 percent of average total assets, 66.8 percent of total receipts, and 74.0 percent of current earnings and profits (less deficit) before taxes. Approximately one-sixth of the 7,500 largest CFC's were located in the United Kingdom. Thes