Tariff refunds are giving a meaningful lift to large U.S. companies' reported results while also beginning to flow through, in some cases, to consumers. More than 40 S&P 500 companies disclosed about $9.6 billion in refunds over the past quarter or so, and a court filing earlier this month said the U.S. government has returned more than $100 billion in International Emergency Economic Powers Act, or IEEPA, tariffs to businesses, roughly 60% of what importers are owed. Apple said nearly $2.2 billion in refunds added 11 cents a share to quarterly earnings, while Nike reported $986 million, FedEx $800 million, Amazon $640 million and General Motors $500 million. Because U.S. Customs and Border Protection can refund only the importer of record, consumers can recover money only if companies choose to pass it on. UPS, FedEx and DHL have said they will return eligible amounts as government repayments arrive, while Amazon said it identified a limited set of cases where it can trace specific import charges passed on to customers and will automatically issue refunds in those instances.