How do you interpret this?

The quote appears in Steve Coll’s book about Exxon and is explained like this:

Coll: He’s headquartered in the United States, but most of his employees live elsewhere, work elsewhere — and quite a lot of the profits that ExxonMobil makes are generated overseas and are difficult to repatriate. So they really see themselves as a global entity, sovereign and organized on behalf of their shareholders without reference to the government of the country where they happened to be headquartered.

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