How are stock buybacks a waste of money?

That doesn’t work anymore. The US taxes global income regardless of where it’s located, and it can be repatriated tax-free

Probably pretty similar tbh

Who is “we”?

The valuation does change though. Outstanding shares decrease, and the amount of total equity also decreases by an equivalent amount (since treasury stock reduces company equity). Since these 2 amounts offset, the company value per outstanding share doesn’t change

There are outside factors that could increase or decrease stock price though, it’s just that people usually conflate this with buybacks

Buybacks don’t pump up the share price

With a decade of low interest rates, their investment opportunities are probably tapped out. If shareholders would rather have cash back, I can’t blame Apple for doing that

The higher demand is offset by the lower total equity though. Value per share remains unchanged

A lot of people think it’s stock manipulation, but it’s not. Buybacks don’t change the share price, it’s just a way to get cash to investors

Like what?

Most of them do operate on small margins, it’s why they’re one of the first industries bailed out during recessions. But they also have a lot of fixed assets, so they report a lot of non-cash expenses through depreciation

You’re correct, it’s 50%. As long as it’s above 20% though, their share of income would be reported here, it just wouldn’t be through consolidation

Frivolous expenses aren’t usually tax-deductible. And the government doesn’t pay for it, it just means that the company reduces their taxable income by that amount

Which channels are remaining? This shows all of their income and expenses

This is their consolidated income statement, so it includes all subsidiaries.

It’s mainly because businesses need high expenses to operate. If you were to tax total income, you’d have to do it at a very low rate so that businesses don’t go bankrupt

But even still, Boeing is paying tax on a loss here. So they have no income, but still owe tax