Overseas holdings of Minnesota and other US companies

By some estimates, about $2 trillion in profits from the overseas operations of American companies is parked in foreign bank accounts — money that could be tapped to kick-start the economy if a Washington lobbying coalition has its way.

Three Minnesota companies alone — Medtronic, 3M and General Mills — have $15.2 billion in profits sitting offshore, according to documents filed with the Securities and Exchange Commission. Additionally, nine other Minnesota-based companies hold more than $7 billion in profits overseas.

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