For those companies -- and investors in their stock -- higher interest rates could bring better earnings without any extra effort at all.
Keeping Their Cash
U.S. corporations have boosted the cash on their balance sheets to record levels. As of the end of 2012, companies outside the banking and financial sector held $1.45 trillion in cash, according to Moody's -- $130 billion more than at the end of 2011. Moreover, 58 percent of that money -- a whopping $840 billion -- is held outside the U.S., kept there so the companies can avoid paying U.S. taxes on it.
Let's take a closer look at some companies with exceedingly large cash stashes and see why they should be rooting for the Fed to move faster in getting interest rates back to more normal levels.
Motley Fool contributor Dan Caplinger owns shares of Apple. You can follow him on Twitter @DanCaplinger. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple, Google, Microsoft, and Oracle. Try any of our newsletter services free for 30 days.