Is cash really king? Reports of corporate cash hoarding may be greatly exaggerated.

• Position: CHARTING THE COURSE

Much is made of the record cash being held by U.S. nonfinancial companies (nearly $2 trillion at the end of 2013). Critics argue corporations are keeping profits made overseas away from U.S. tax collectors, but a look at the 10 biggest nonfinancial companies in North Carolina shows mostly modest cash increases --and a few decreases--since 2007. A similar trend is evident nationally, Wharton School accounting professor Wayne Guay says. He attributes the controversy to Apple Inc. (nearly $40 billion in cash) and other high-profile companies with massive balances and the passion elicited by charges of tax dodging.

Cash held by largest nonfinancial public companies in N.C. Nucor Corp Charlotte 2007 $975 million 2014 $1.2 billion Lorilland Inc. Greensboro 2007 $881 million 2014 $1.2 billion * Red Hat Inc...