Actually, we're talking about money companies have ascribed to overseas operations, sometimes because that's actually where they do traditional manufacturing and sales ... and sometimes because they've created the darnedest shell companies to make it seem as if they're earning all their profits in Luxembourg, Ireland, the Bahamas or other tax havens.

Jesse Drucker wrote a lot about such tax maneuvers during his years at Bloomberg News. An overall link to his work is here: https://www.bloomberg.com/authors/APuiS-bL1Fc/jesse-drucker