S&P INDICES | Research & Design August 2010

S&P 500: 2009 Global Sales

 In 2009, S&P 500 foreign sales decreased 16.0%, while domestic

sales decreased 11.2%.

 European sales from S&P 500 companies declined to 25.6% of all

foreign sales in 2009 from 27.7% in 2008, as Asia increased to 17.6%
of all foreign sales in 2009 from 13.2% in 2008. Canada representing
the largest single country represented 7.4% of foreign (outside U.S.)
sales is down from 9.3% in 2008.

 Information Technology continued to be the dominating sector with

over 56% of its declared sales being foreign (outside U.S.) in nature;
the sector represents 20.4% of all U.S. foreign sales.

 Foreign income taxes paid declined 32%, as U.S. issues sent US$ 43
billion less to non-US governments than they did in 2008.

 Half (250) of the S&P 500 companies still do not report sufficient
information for a complete breakdown – the issues are big on
pictures, short on tabular tables.

 Of the reporting 250 companies, 46.6% of all sales were produced

and sold outside of the United States, compared to 47.9% in 2008,
45.8% in 2007, and 43.6% in 2006.

Howard Silverblatt David Guarino

Senior Index Analyst Media Contact
212.438.3916 212.438.1471 1
howard_silverblatt@sandp.com dave_guarino@sandp.com
S&P 500: 2009 Global Sales August 2010

Overview
Seven years ago, U.S. equities made up 57.6% of the world equity market (world equity market
is defined in this paper by the S&P Global Broad Market Index). Today, U.S. equities make up 42.8%.
Six years ago, the U.S. Gross World Product (GWP) (at purchasing power parity) comprised 29.6% of
the world GWP. Today, it is 16.8%, with China accounting for 10.4%, and the consolidated European
Union for 17.1%1. While the U.S. equity market and consumer remain the largest and most dominant
component of their respective groups, the U.S. is no longer the single overpowering element. Where
the U.S. used to catch a cold and the rest of the world got pneumonia, now the rest of the world gets
the flu. The recent rise, fall, and current stabilization of the Euro with respect to the U.S. dollar attest
both to the continued U.S. dominance, as well as its diminished status and percentage of world
markets. Additionally, the lender-lendee relationship between the U.S. and China demonstrates the
new term mutually assured interests and the new realities of global markets and economies. The
destination and manufacturing of U.S. products and services have equally changed. Helped along by
lower costs for labor, healthcare, pension and other post employment benefits (“OPEB”), and assisted
at times by tax laws and product regulations, U.S. companies have moved their operations abroad
where products can be more cost efficient to both manufacture and sell. Global growth, especially
within the emerging markets, now makes many of these products saleable in the regions where they
are produced.

While the current recession and market turmoil has had a significant impact on local markets,
the overall trend has not significantly changed. Growth outside of the United States has, and is,
expected to be greater than that of the growth within the U.S. The continuing shifts of labor, capital,
and resources are expected to continue outside of the U.S., even though the U.S. is viewed with much
higher political and economic stability.

This report quantifies the current status of known foreign sales within the S&P 500. While
globalization is apparent in almost all company reports, exact sales and export levels remain difficult to
obtain. Many companies tend to categorize sales by regions or markets, while others segregate
government sales. Additionally, intra-company sales (and hence profits) are sometimes structured to
take advantage of trade, tax, and regulatory polices. The resulting reported data available for
shareholders is therefore significantly less than the desired level for analysis. Still, with utilization of
half the issues in the S&P 500, it does permit a glimpse into its composition. What is needed is actually
defined reporting classifications and values in a tabular form, similar in nature to the many Generally
Accepted Accounting Principles (GAAP) required items. Additional reporting on country of
manufacturing, country of sale, and insight via a matrix of how a change in currency would impact costs
(both hedged and unhedged) would be ideal, but at this point such a matrix does not exist and there
appears little hope for that on the near-term horizon.

Unfortunately, the summary of data reporting has not improved over the years, and 2009 data
was extremely disappointing in terms of currency and recovery matters. This year we were able to

1
Source: The World Factbook 2009. Washington, DC: Central Intelligence Agency, 2009.
https://www.cia.gov/library/publications/the-world-factbook/index.html

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S&P 500: 2009 Global Sales August 2010

utilize 250 issues in our S&P 500 global sales review, down three from the 253 studied in 2008 and
down 1 from the 251 issues used in 2007. In the short run, the lack of reporting complicates the year-
to-year analysis and requires generalizations and approximations, whereas exact statistics would be a
valuable analytical component. It is hoped that reporting will “evolve” over time; however, given the
attention to markets, currency, growth, and domain in 2009, and the continued lack of reporting, hope
of such disclosure appears thin and dwindling.

Global Sales2
Total reported 2009 fiscal sales for the S&P 500 on an aggregate basis decreased 12.0% from
US$ 9.08 trillion to US$ 7.99 trillion, matching the level in 2005 of US$ 7.94 trillion. The sudden and
massive decline was the product of the global recession and the massive pull-back in consumer
spending in the U.S. Reported foreign sales for the current membership of the S&P 500, decreased
16.0% and U.S. domestic sales decreased 11.2%. Total reported foreign sales, as a percentage of full
sales (regardless of whether they reported foreign sales), decreased to 24.13% for 2009 from 27.16%
in 2008, 24.77% in 2007, and 24.69% in 2006. It is important to note that these values include issues
that have not fully reported their foreign data, and therefore underestimate the actual values. For
comparison, we utilized a sub-set of issues that reported full information. These issues paint a different
picture. For those issues, the S&P 500 sales decreased 11.1% in 2009 (after increasing 3.13% in
2008), foreign sales decreased 15.9% (after increasing 13.1% in 2008), and U.S. domestic sales
decreased 6.3% (after declining 5.0% in 2008). Foreign sales reported (as a percentage of sales)
decreased to 46.57% after increasing to 47.95% in 2008 from 45.84% in 2007 and 43.55% in 2006.

S&P 500 Foreign Regional Sales Data

REGION FOREIGN SALES % OF FOREIGN SALES % OF FOREIGN % OF

2009 US$ FOREIGN 2008 US$ FOREIGN SALES 2007 FOREIGN
MILLIONS SALES MILLIONS SALES US$ MILLIONS SALES
Africa $160,559 7.94% $143,103 5.84% $156,401 6.82%
Asia $356,739 17.65% $323,903 13.21% $384,466 16.76%
Australia $5,439 0.27% $4,802 0.20% $4,917 0.21%
Europe $516,690 25.57% $678,897 27.69% $660,453 28.79%
North America $157,659 7.80% $251,047 10.24% $204,749 8.92%
South America $108,750 5.38% $122,088 4.98% $85,723 3.74%
Foreign Countries $715,176 35.39% $928,211 37.85% $797,510 34.76%
Total $2,021,012 100.00% $2,452,051 100.00% $2,294,219 100.00%

Total Non-U.S. for 15%-85% $1,858,258 $2,211,535 $2,074,923

Total sales for 15%-85% $3,990,371 $4,613,612 $4,526,851
S&P 500 full sales $7,990,575 $9,082,010 $9,071,767
Source: Standard & Poor’s, Compustat.

2
Sales are on a fiscal basis, since quarterly reporting is materially less than annual, and therefore does not match
official quarterly values; foreign sales are products and services produced and sold outside of the Unites States.

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S&P 500: 2009 Global Sales August 2010

Income Taxes
While revenue decline in 2009 was of historic proportions, overall profits rebounded 14.9% on
an operating basis and 143% on a U.S. GAAP basis. Taxes, similar to cash-flow, were different. In
2008, income taxes paid by S&P 500 companies dramatically shifted as U.S. GAAP corporate profits
posted their worst decline in decades. For 2008, S&P 500 companies paid 26% more income taxes to
foreign countries than they did to the United States government. In 2008, Financials (which posted
massive losses that year), paid the U.S. government US$ 817 million in income taxes, while paying
US$ 13.3 billion to foreign governments - 16 times as much. As a group, taxes paid to foreign countries
through income taxes increased US$ 11.5 billion or 9.3%, while U.S. Federal income taxes declined
US$ 43.9 billion, or 29.1%. As a percentage of full income taxes, U.S. payments posted their fourth
annual consecutive decline, and represented a minority of income taxes, with 44.2% being paid to the
U.S. and 55.8% going to foreign countries. For 2009, however, as GAAP income recovered, taxes paid
to the U.S. government declined significantly less than foreign taxes. Specifically, federal income taxes
paid to the U.S. government declined 13.6% to US$ 92.7 billion from US$ 107.2 billion in 2008, as
income taxes paid to non-U.S. governments declined 32.0% to US$ 91.7 billion from US$ 135.1 billion
in 2008. The shift resulted in 50.2% of the taxes going to the U.S. and 49.8% going to non-U.S.
governments. While actual country payments are not reported, the aggregate loss of US$ 43.3 billion of
income to non-US sovereigns put additional budgetary pressures on an already strained system.

S&P 500 2009 Income Taxes Paid, US$

2009 2008 2007 2006 2005 2004 2003

FOREIGN US$ MILLION $91,876 $135,129 $123,610 $112,686 $91,794 $72,172 $51,670
U.S. US$ MILLION $92,667 $107,205 $151,104 $155,269 $141,471 $100,376 $70,254

FOREIGN % CHANGE -32.01% 9.32% 9.69% 22.76% 27.19% 39.68%

U.S. % CHANGE -13.56% -29.05% -2.68% 9.75% 40.94% 42.88%

FOREIGN $ MILLION CHANGE -$43,252 $11,518 $10,924 $20,893 $19,622 $20,503

U.S. $ MILLION CHANGE -$14,538 -$43,900 -$4,165 $13,799 $41,095 $30,122

FOREIGN % OF TOTAL 49.8% 55.8% 45.0% 42.1% 39.4% 41.8% 42.4%

U.S. % OF TOTAL 50.2% 44.2% 55.0% 57.9% 60.6% 58.2% 57.6%
Source: Standard & Poor’s, Compustat.

Selected Sector Sales

Due to specific disclosures and reporting, the aggregate data does not permit simple foreign
representation or sector analysis. We have therefore reduced the S&P 500 to issues that have
reported full foreign sales where the percentage of foreign sales represents between 15% and 85% of
total sales. At this stage of reporting we still believe this is the best approximation for calculating
aggregates, although we eagerly look forward to a time when the analysis can be done on the full group
without restraints.

For 2009, 250 of the S&P 500 companies (3 fewer than were utilized in 2008, which is 1 more
than 2007 and 11 more than 2006), and 91.9% of the foreign sales were utilized (verses 90.2% in 2008
and 90.4% in 2007).

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S&P 500: 2009 Global Sales August 2010

S&P 500 Selected Issues

2009 2008 2007 2006
Foreign sales between 15% and 85% 250 253 251 239
Issues with no or incomplete issues 178 188 182 193
Issues under 15% 62 49 57 61
Issues over 85% 10 10 10 8
Source: Standard & Poor’s, Compustat.

Using the sub-set of 250 issues, 46.57% of the sales in 2009 were produced and sold outside of
the U.S., down from 47.94% in 2008, and up from 45.84% in 2007 and 43.6% in 2006. Information
Technology continued to dominate the sectors with 56.0% of its sales coming from abroad,
representing 17.0% of all foreign sales. The sector is up from its 17.4% representation in 2008, but
down from 19.1% of 2007. Seven of the ten issues that were not used because they had foreign sales
in excess of 85% were in Information Technology, and included Advanced Micro Devices at 87.0%,
Texas Instruments at 89%, and QUALCOMM at 94.0%. Therefore, we believe that this value
underestimates the representation. Energy continued to decline in its reported foreign sales, posting a
43.7% foreign sales value, down from 50.47% last year, and 60.0% in 2003. Given the current Gulf oil
spill and initial legislation for a ban on off-shore drilling before the U.S. Congress, additional exploration
and production for the Energy sector could shift to outside the U.S. in the coming years. Revenue break
downs were few in Telecommunications and Utilities, resulting in a lack of meaningful statistics.

S&P 500 Foreign Sales Sector Report

FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN

SALES SALES SALES SALES SALES SALES SALES
% OF SALES 2009 2008 2007 2006 2005 2004 2003
Consumer Discretionary 42.43% 44.05% 42.46% 38.76% 37.28% 34.98% 34.59%
Consumer Staples 46.56% 46.95% 39.06% 36.57% 37.51% 38.89% 34.48%
Energy 43.66% 50.47% 55.69% 56.50% 56.62% 53.51% 60.03%
Financials 40.19% 34.09% 31.59% 29.93% 31.36% 32.06% 28.53%
Health Care 47.21% 48.61% 44.54% 41.76% 37.54% 40.81% 39.09%
Industrials 44.21% 46.14% 44.11% 41.14% 39.68% 41.47% 40.47%
Information Technology 56.02% 55.27% 55.38% 53.50% 54.86% 61.18% 52.83%
Materials 52.06% 49.66% 46.99% 42.22% 40.81% 40.66% 39.16%
Telecommunication Services N/M
Utilities N/M 52.18% 55.16% 63.60% 60.48% 58.52% 53.62%
Total Non-U.S. 15%-85% 46.57% 47.94% 45.84% 43.55% 43.26% 43.75% 41.84%
Source: Standard & Poor’s, Compustat.

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S&P 500: 2009 Global Sales August 2010

S&P 500 Foreign Sales Sector Report cont.

FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN FOREIGN

SALES SALES SALES SALES SALES SALES SALES
% OF FOREIGN SALES 2009 2008 2007 2006 2005 2004 2003
Consumer Discretionary 12.68% 12.52% 16.33% 16.48% 16.66% 16.35% 17.68%
Consumer Staples 11.04% 10.03% 6.08% 5.93% 6.39% 6.88% 6.64%
Energy 13.43% 22.77% 19.15% 20.49% 21.07% 17.12% 18.22%
Financials 9.37% 4.65% 8.27% 8.23% 7.68% 7.24% 6.67%
Health Care 8.48% 8.32% 6.59% 6.04% 5.35% 5.97% 6.19%
Industrials 17.02% 16.87% 17.17% 17.16% 16.51% 17.50% 17.78%
Information Technology 20.43% 17.38% 19.07% 18.74% 19.37% 21.85% 19.68%
Materials 6.92% 6.73% 6.71% 6.29% 6.33% 6.53% 6.61%
Telecommunication Services 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Utilities 0.62% 0.71% 0.63% 0.64% 0.65% 0.55% 0.53%
Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Source: Standard & Poor’s, Compustat.

Issue Level Data

Top 15 Regional and Undeclared Sales, US$ Millions

COMPANY SECTOR REGION REGIONAL FOREIGN FULL REGIONAL REGIONAL FOREIGN

SALES SALES SALES % OF % OF % OF
2009 2009 2009 FOREIGN FULL FULL
EXXON MOBIL CORP Energy Canada $76,725 $128,633 $275,564 59.65% 27.84% 46.68%
GENERAL ELECTRIC CO Industrials Europe $36,900 $84,300 $155,777 43.77% 23.69% 54.12%
AMERICAN INTERNATIONAL GR Financials Asia $35,180 $58,776 $97,260 59.85% 36.17% 60.43%
EXXON MOBIL CORP Energy Europe $29,854 $128,633 $275,564 23.21% 10.83% 46.68%
FORD MOTOR CO Consumer Discretionary Great Britain $28,703 $63,931 $118,308 44.90% 24.26% 54.04%
GENERAL ELECTRIC CO Industrials South America $26,700 $84,300 $155,777 31.67% 17.14% 54.12%
EXXON MOBIL CORP Energy Japan $22,054 $128,633 $275,564 17.14% 8.00% 46.68%
GENERAL ELECTRIC CO Industrials Pacific $20,700 $84,300 $155,777 24.56% 13.29% 54.12%
CONOCOPHILLIPS Energy Great Britain $20,671 $51,667 $136,016 40.01% 15.20% 37.99%
FORD MOTOR CO Consumer Discretionary Europe $18,712 $63,931 $118,308 29.27% 15.82% 54.04%
INTEL CORP Information Technology Asia $16,409 $29,847 $35,127 54.98% 46.71% 84.97%
JOHNSON & JOHNSON Health Care Europe $15,934 $31,008 $61,897 51.39% 25.74% 50.10%
DOW CHEMICAL Materials Europe $15,069 $30,730 $44,875 49.04% 33.58% 68.48%
CITIGROUP INC Financials Africa $14,979 $41,034 $104,159 36.50% 14.38% 39.40%
PFIZER INC Health Care Europe $14,561 $28,260 $49,934 51.53% 29.16% 56.59%

HEWLETT-PACKARD CO Information Technology Foreign Countries $73,238 $73,238 $114,552 100.00% 63.93% 63.93%
INTL BUSINESS MACHINES CORP Information Technology Foreign Countries $51,386 $61,608 $95,758 83.41% 53.66% 64.34%
PROCTER & GAMBLE CO Consumer Staples Foreign Countries $47,949 $47,949 $79,029 100.00% 60.67% 60.67%
ARCHER-DANIELS-MIDLAND CO Consumer Staples Foreign Countries $26,291 $33,722 $69,198 77.96% 37.99% 48.73%
MICROSOFT CORP Information Technology Foreign Countries $25,385 $25,385 $58,437 100.00% 43.44% 43.44%
DELL INC Information Technology Foreign Countries $24,849 $24,849 $52,902 100.00% 46.97% 46.97%
AMERICAN INTERNATIONAL GR Financials Foreign Countries $23,596 $58,776 $97,260 40.15% 24.26% 60.43%
CONOCOPHILLIPS Energy Foreign Countries $23,401 $51,667 $136,016 45.29% 17.20% 37.99%
COCA-COLA CO Consumer Staples Foreign Countries $22,979 $22,979 $30,990 100.00% 74.15% 74.15%
CATERPILLAR INC Industrials Foreign Countries $21,836 $21,836 $32,396 100.00% 67.40% 67.40%
APPLE INC Information Technology Foreign Countries $20,580 $20,580 $42,905 100.00% 47.97% 47.97%
FORD MOTOR CO Consumer Discretionary Foreign Countries $16,516 $63,931 $118,308 25.83% 13.96% 54.04%
DOW CHEMICAL Materials Foreign Countries $15,661 $30,730 $44,875 50.96% 34.90% 68.48%
PEPSICO INC Consumer Staples Foreign Countries $13,754 $20,786 $43,232 66.17% 31.81% 48.08%
AMAZON.COM INC Consumer Discretionary Foreign Countries $11,681 $11,681 $24,509 100.00% 47.66% 47.66%
Source: Standard & Poor’s, Compustat.

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S&P 500: 2009 Global Sales August 2010

Top 5 Issues in each Declared Region, US$ Millions

COMPANY SECTOR REGION REGIONAL FOREIGN FULL REGIONAL REGIONAL FOREIGN
SALES SALES SALES % OF % OF % OF
2009 2009 2009 FOREIGN FULL FULL
CITIGROUP INC Financials Africa $14,979 $41,034 $104,159 36.50% 14.38% 39.40%
GOLDMAN SACHS GR INC Financials Africa $11,595 $19,860 $51,673 58.38% 22.44% 38.43%
JOHNSON & JOHNSON Health Care Africa $9,918 $31,008 $61,897 31.99% 16.02% 50.10%
MERCK & CO Health Care Africa $7,093 $13,027 $27,428 54.45% 25.86% 47.50%
3M CO Industrials Africa $5,972 $14,608 $23,123 40.88% 25.83% 63.18%

AMERICAN INTERNATIONAL GR Financials Asia $35,180 $58,776 $97,260 59.85% 36.17% 60.43%
INTEL CORP Information Technology Asia $16,409 $29,847 $35,127 54.98% 46.71% 84.97%
CITIGROUP INC Financials Asia $13,917 $41,034 $104,159 33.92% 13.36% 39.40%
BOEING CO Industrials Asia $12,424 $28,783 $68,281 43.16% 18.20% 42.15%
GOLDMAN SACHS GR INC Financials Asia $8,265 $19,860 $51,673 41.62% 15.99% 38.43%

ALCOA INC Materials Australia $2,287 $8,893 $18,439 25.72% 12.40% 48.23%
NEWMONT MINING CORP Materials Australia $1,927 $5,779 $7,705 33.34% 25.01% 75.00%
FORTUNE BRANDS INC Consumer Discretionary Australia $695 $2,093 $6,205 33.20% 11.20% 33.73%
GAMESTOP CORP Consumer Discretionary Australia $530 $2,803 $9,078 18.92% 5.84% 30.88%

AES CORP Utilities Brazil $5,394 $11,574 $14,119 46.60% 38.20% 81.97%
ALCOA INC Materials Brazil $2,832 $8,893 $18,439 31.85% 15.36% 48.23%
MOTOROLA INC Information Technology Brazil $2,020 $10,210 $22,044 19.78% 9.16% 46.32%
CUMMINS INC Industrials Brazil $1,569 $5,659 $10,808 27.73% 14.52% 52.36%
MONSANTO CO Materials Brazil $1,419 $5,290 $11,724 26.82% 12.10% 45.12%

EXXON MOBIL CORP Energy Canada $76,725 $128,633 $275,564 59.65% 27.84% 46.68%
COSTCO WHOLESALE CORP Consumer Staples Canada $9,737 $14,874 $71,449 65.46% 13.63% 20.82%
CONOCOPHILLIPS Energy Canada $7,595 $51,667 $136,016 14.70% 5.58% 37.99%
HOME DEPOT INC Consumer Discretionary Canada $7,000 $7,000 $65,955 100.00% 10.61% 10.61%
VALERO ENERGY CORP Energy Canada $6,048 $9,352 $67,271 64.67% 8.99% 13.90%

GENERAL ELECTRIC CO Industrials Europe $36,900 $84,300 $155,777 43.77% 23.69% 54.12%
EXXON MOBIL CORP Energy Europe $29,854 $128,633 $275,564 23.21% 10.83% 46.68%
FORD MOTOR CO Consumer Discretionary Europe $18,712 $63,931 $118,308 29.27% 15.82% 54.04%
JOHNSON & JOHNSON Health Care Europe $15,934 $31,008 $61,897 51.39% 25.74% 50.10%
DOW CHEMICAL Materials Europe $15,069 $30,730 $44,875 49.04% 33.58% 68.48%

HEWLETT-PACKARD CO Information Technology Foreign Countries $73,238 $73,238 $114,552 100.00% 63.93% 63.93%
INTL BUSINESS MACHINES CORP Information Technology Foreign Countries $51,386 $61,608 $95,758 83.41% 53.66% 64.34%
PROCTER & GAMBLE CO Consumer Staples Foreign Countries $47,949 $47,949 $79,029 100.00% 60.67% 60.67%
ARCHER-DANIELS-MIDLAND CO Consumer Staples Foreign Countries $26,291 $33,722 $69,198 77.96% 37.99% 48.73%
MICROSOFT CORP Information Technology Foreign Countries $25,385 $25,385 $58,437 100.00% 43.44% 43.44%

STANLEY BLACK & DECKER INC Consumer Discretionary France $499 $1,569 $3,737 31.77% 13.34% 41.99%
GILEAD SCIENCES INC Health Care France $468 $3,412 $7,011 13.73% 6.68% 48.66%
FIRST SOLAR INC Information Technology France $249 $1,929 $2,066 12.92% 12.07% 93.37%
TITANIUM METALS CORP Materials France $79 $258 $774 30.48% 10.16% 33.32%

DU PONT (E I) DE NEMOURS Materials Germany $10,344 $16,295 $27,268 63.48% 37.93% 59.76%
ARCHER-DANIELS-MIDLAND CO Consumer Staples Germany $7,431 $33,722 $69,198 22.04% 10.74% 48.73%
JOHNSON CONTROLS INC Consumer Discretionary Germany $2,877 $17,398 $28,497 16.54% 10.10% 61.05%
GOODYEAR TIRE & RUBBER CO Consumer Discretionary Germany $1,927 $10,348 $16,301 18.62% 11.82% 63.48%
DANAHER CORP Industrials Germany $1,475 $5,265 $11,185 28.02% 13.19% 47.07%

FORD MOTOR CO Consumer Discretionary Great Britain $28,703 $63,931 $118,308 44.90% 24.26% 54.04%
CONOCOPHILLIPS Energy Great Britain $20,671 $51,667 $136,016 40.01% 15.20% 37.99%
GOOGLE INC Information Technology Great Britain $2,986 $12,457 $23,651 23.97% 12.63% 52.67%
MURPHY OIL CORP Energy Great Britain $2,839 $5,039 $18,886 56.33% 15.03% 26.68%
COMPUTER SCIENCES CORP Information Technology Great Britain $1,923 $5,936 $16,063 32.40% 11.97% 36.95%
Source: Standard & Poor’s, Compustat

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S&P 500: 2009 Global Sales August 2010

Top 5 Issues in each Declared Region, US$ Millions cont.

COMPANY SECTOR REGION REGIONAL FOREIGN FULL REGIONAL REGIONAL FOREIGN
SALES SALES SALES % OF % OF % OF
2009 2009 2009 FOREIGN FULL FULL
EXXON MOBIL CORP Energy Japan $22,054 $128,633 $275,564 17.14% 8.00% 46.68%
INTL BUSINESS MACHINES CORP Information Technology Japan $10,222 $61,608 $95,758 16.59% 10.67% 64.34%
INTEL CORP Information Technology Japan $8,160 $29,847 $35,127 27.34% 23.23% 84.97%
ABBOTT LABORATORIES Health Care Japan $5,711 $16,312 $30,765 35.01% 18.56% 53.02%
HARTFORD FINANCIAL SERVICES Financials Japan $3,816 $4,272 $25,042 89.33% 15.24% 17.06%

PEPSICO INC Consumer Staples Mexico $3,210 $20,786 $43,232 15.44% 7.43% 48.08%
JABIL CIRCUIT INC Information Technology Mexico $2,705 $9,797 $11,685 27.61% 23.15% 83.84%
AMERICAN TOWER CORP Telecommunication Services Mexico $153 $260 $1,724 58.81% 8.88% 15.10%
RYDER SYSTEM INC Industrials Mexico $112 $760 $4,887 14.76% 2.30% 15.56%
GENUINE PARTS CO Consumer Discretionary Mexico $82 $1,160 $10,058 7.03% 0.81% 11.54%

BOEING CO Industrials Middle East $8,843 $28,783 $68,281 30.72% 12.95% 42.15%
OCCIDENTAL PETROLEUM CORP Energy Middle East $3,239 $5,955 $15,403 54.39% 21.03% 38.66%
LSI CORP Information Technology Middle East $574 $1,700 $2,219 33.76% 25.86% 76.60%
ROWAN COS INC Energy Middle East $379 $818 $1,770 46.33% 21.41% 46.22%

ILLINOIS TOOL WORKS Industrials North America $2,035 $7,976 $13,877 25.51% 14.66% 57.47%
FRANKLIN RESOURCES INC Financials North America $489 $1,276 $4,278 38.29% 11.42% 29.83%

GENERAL ELECTRIC CO Industrials Pacific $20,700 $84,300 $155,777 24.56% 13.29% 54.12%
CONSTELLATION BRANDS -CL A Consumer Staples Pacific $373 $1,383 $3,365 26.95% 11.08% 41.11%

GENERAL ELECTRIC CO Industrials South America $26,700 $84,300 $155,777 31.67% 17.14% 54.12%
CITIGROUP INC Financials South America $12,138 $41,034 $104,159 29.58% 11.65% 39.40%
PHILIP MORRIS INTERNATIONAL Consumer Staples South America $7,252 $62,080 $25,035 11.68% 28.97% 247.97%
AVON PRODUCTS Consumer Staples South America $4,103 $8,120 $10,383 50.53% 39.52% 78.21%
WHIRLPOOL CORP Consumer Discretionary South America $3,705 $7,697 $17,099 48.14% 21.67% 45.01%
Source: Standard & Poor’s, Compustat.

S&P INDICES | Research & Design 8

S&P 500: 2009 Global Sales August 2010

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