This excerpt taken from the WDC 10-K filed Aug 28, 2007.
Income Tax (Benefit) Expense
The components of the (benefit) provision for income taxes were as follows for the three years ended June 29, 2007 (in millions):
Remaining net undistributed earnings from foreign subsidiaries at June 29, 2007 on which no U.S. tax has been provided amounted to approximately $1.1 billion. The net undistributed earnings are intended to finance local operating requirements. Accordingly, an additional U.S. tax provision has not been made on these earnings. The tax liability for these earnings approximates $433 million, if the Company repatriates the $1.1 billion in undistributed earnings from the foreign subsidiaries.