S&P 500 companies with full reporting information posted 46.3% of their sales from outside ofthe United Statesin 2010, down slightly from the 46.6% posted in 2009 and significantly below the 47.9% recorded in 2008, according to research published today by S&P Indices. The data is derived from the 255 companies within the S&P 500 that have full reporting information.

“While the percentage of foreign sales posted a slight tick-downward in 2010, we believe that multiple changes in currency, membership and contracts negate any strong implication to the second yearly drop,” addsHoward Silverblatt, S&P Indices' Senior Index Analyst and author of the report. "Looking at these results on a proforma basis, foreign sales ticked-up for the year, a direction we feel will continue as non-U.S. growth outpaces U.S. domestic growth."

According to the report, sales to European countries rebounded to 29.1% in 2010 from 25.6% in 2009. Sales to Asian countries decreased to 13.1% from the 17.6% posted in 2009.

On a country by country basis, whileCanadawas again the primary recipient of S&P 500 foreign sales, it is continuing to fall out of favor. Only 4.1% of declared sales came fromCanadain 2010 down from the 7.4% reported in 2009 and the 9.3% reported in 2008. At 3.13%,Great Britainwas the second choice destination for foreign sales of the S&P 500 companies in 2010.

Looking at sectors, Information Technology continues to dominate with over 56% of its declared sales coming from outside ofthe United States; the sector now represents 22.4% of all U.S. foreign sales.

S&P Indices also determined that total income taxes paid to foreign entities increased 27.7% to$117.3 billionin 2010 from$91.9 billionin 2009. In comparison, S&P 500 companies paid$101.7 billionin domestic incomes taxes in 2010, a 9.7% increase over the$92.7 billionpaid in 2009.

"In 2010, S&P 500 issues paid more income tax to foreign countries than toWashington," notes S&P's Silverblatt. "Only 46.4% of all income taxes paid by U.S. companies went toWashingtonin 2010 versus 53.6% paid abroad. Apparently, jobs weren't the only major export in 2010."