3 Wonderful Debt-Free Companies to Buy Now

All companies need capital to stay in business. One common way for them to gain quick access to a pile of cash is to issue debt. Given today's low-interest rate environment, issuing debt has become highly attractive. That's especially true when considering that interest expenses are deductible, which makes the after-tax cost of debt even lower.

However, companies that issue too much debt can get into deep trouble when the economy takes a turn for the worse. After all, interest must be paid in good times and in bad. That's why many small companies -- even a few large ones -- choose to avoid debt altogether.

So which companies have chosen to keep their balance sheets squeaky-clean? Here's a list of 10 well-known companies that currently sport debt-free balance sheets:

Source: Fool.com