Supreme Court decision triggers $9.6B refunds to S&P 500 firms
Big news for US companies: thanks to a Supreme Court decision that invalidated a key part of Trump-era tariffs, more than 40 S&P 500 firms reported $9.6 billion in tariff refunds over the past quarter or so, $2.1 billion already paid out, according to WSJ.
This surprise cash boost is especially helping major refund recipients like Apple, Nike, and FedEx.
Apple nearly $2.2B refunded, earnings rise
Apple leads the pack with nearly $2.2 billion refunded, while Nike scored $986 million and FedEx has received or expects to receive about $800 million.
These payouts are making a real difference; Apple's refund bumped its earnings by 11 cents per share and GE HealthCare added 18 cents per share for Q2 2026.
Some companies plan to pass savings on to customers, FedEx and Costco included, while Amazon says it'll use the funds for selective customer refunds and help maintain lower prices for customers.
Companies differ on refund accounting
Not everyone is counting their refunds the same way: some firms only record funds once they're actually received, while others factor in expected refunds ahead of time.
It shows how each company is strategizing with this unexpected windfall.