Table 19: S&P 500 companies with high (>35%) median 5-year effective tax rates and low (<10%) foreign sales Foreign Sales 5-Year Median Effective Tax Ticker Company Name Sector Industry % Rate % FE FirstEnergy Corp. Utilities Electric Utilities 0% 85.3 ZION Zions Bancorporation Financials Banks 0% 35.2 MO Altria Group, Inc. Consumer Staples Tobacco 0% 35.1 EXC Exelon Corporation Utilities Electric Utilities 0% 35.1 RSG Republic Services, Inc. Industrials Commercial Services & Supplies 0% 35.0 Note: This screen is not a recommended list either individually or as a group of stocks. Investors should consider the fundamentals of the companies and their own individual circumstances/abjective before making any investment decisions. Source: FactSet, BofA Merrill Lynch US Equity & US Quant Strategy Repatriation: potential beneficiaries Below we provide a screen of S&P 500 companies (excluding Financials and Real Estate) with high (>10%) overseas cash as a percent of market cap, which could potentially benefit most from repatriation. Table 20: S&P 500 (ex. Financials & Real Estate) companies with the highest overseas cash* as a % of their market cap (>10%) Ticker Company Sector Industry Overseas Cash ($mn) Overseas Cash as a % of Mkt Cap WU Western Union Company Information Technology IT Services 6,100 62% FSLR First Solar, Inc. Information Technology Semiconductors & Semiconductor 1,500 59% NWS News Corporation Class B Consumer Discretionary Media 813 54% ORCL Oracle Corporation Information Technology Software 48,200 40% CSCO Cisco Systems, Inc. Information Technology Communications Equipment 59,800 39% NTAP __NetApa, Inc. Information Technology Technology Hardware, Storage & 4,000 39% QCOM QUALCOMM Incorporated Information Technology Semiconductors & Semiconductor 29,600 36% AAPL Apple Inc. Information Technology Technology Hardware, Storage & 216,000 34% JNPR Juniper Networks, Inc. Information Technology Communications Equipment 3,167 30% SYMC — Symantec Corporation Inf