U.S. Companies’ Repatriated Cash Hits $1 Trillion Under Tax Law

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a report showed Thursday.

Even so, the total remains well short of the $4 trillion President Donald Trump said would return as a result of the 2017 tax law. The flow rose to $95.3 billion in the third quarter from a downwardly revised $70.4 billion in the previous three months, according to Commerce Department data, reaching a total of $1.04 trillion since the end of 2017.

Investment banks and think tanks have ...