Ask Matt: Which companies have the most cash?

• Investors are increasingly concerned with the amount of cash companies are sitting on
• With interest rates so low%2C companies must balance the security of cash with the low returns
• %22Cash%22 can be measured in different ways depending on what types of investments are included

USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at mkrantz@usatoday.com.

Q: Which companies are sitting on the biggest piles of cash?

A: Comparing the size of companies' mounting piles of cash has become somewhat of a pastime for investors.

Coming off the worst recession since the Great Depression, companies understandably want to have some extra cash on hand. But, given that interest rates are so low, it's actually a financial drag on companies' performance to sit on huge amounts of cash.

The amount of cash that's appropriate for a company to hold has turned into a battle between Apple shareholder David Einhorn and Apple.

But however investors feel about cash and how much companies should have, it's wise to monitor cash levels at companies.

Keep in mind, though, that the definition of cash can vary a bit. Investors who only include actual greenbacks and short-term investments would consider the biggest cash piles by non-financial companies to include: Microsoft, Google and Cisco, with $78.8 billion, $49.6 billion and $47.4 billion respectively, according to USA TODAY analysis of data from S&P Capital IQ.

But investors who tally cash, short-term investments and long-term investments would have a different list, including Apple, Microsoft and Google, with cash and long-term investments of $137.1 billion, $78.8 billion and $49.6 billion, respectively.