In a recent bond offering, Apple took on billions of dollars in debt in order to finance an initiative to return some of its cash to shareholders. Its plan is to give $100 billion back to investors, by way of dividends and stock buybacks, by 2015.
Since most of its cash is offshore, Apple's decision to take on debt instead of tapping its own $150 billion cash pile helped it sidestep an estimated $9 billion in taxes. Unfortunately, it's also caught the attention of the US government...