Financial Accounts of the United States - Z.1
F.103 Nonfinancial Corporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2015 | 2016 | 2017 | 2016 Q3 | 2016 Q4 | 2017 Q1 | 2017 Q2 | 2017 Q3 | 2017 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; corporate profits before tax excluding IVA and CCAdj | FA106060005 | 1275.7 | 1262.4 | 1300.7 | 1254.4 | 1256.4 | 1326.8 | 1348.9 | 1349.4 | 1177.7 | 1 |
| Nonfinancial corporate business; taxes on corporate income | FA106231005 | 281.1 | 274.1 | 273.6 | 277.5 | 283.5 | 277.5 | 294.1 | 289.4 | 233.7 | 2 |
| Nonfinancial corporate business; net dividends paid | FA106121075 | 651.8 | 685.2 | 680.7 | 680.6 | 705.9 | 696.2 | 728.7 | 649.9 | 647.7 | 3 |
| Nonfinancial corporate business; capital consumption allowance (1) | FA106300015 | 1284 | 1322.8 | 1427.9 | 1327.6 | 1342.2 | 1352.9 | 1364.3 | 1378.7 | 1616 | 4 |
| Nonfinancial corporate business; U.S. internal funds, book | FA106000135 | 1626.9 | 1625.8 | 1774.3 | 1623.9 | 1609.3 | 1706 | 1690.4 | 1788.8 | 1912.2 | 5 |
| Nonfinancial corporate business; foreign earnings retained abroad | FA106006065 | 204.9 | 200.8 | 213.5 | 183.8 | 240.2 | 219.8 | 237.8 | 182.4 | 213.8 | 6 |
| Nonfinancial corporate business; inventory valuation adjustment (IVA) | FA105020601 | 52.4 | 2.7 | -36.4 | 7.3 | -17.5 | -75 | -33.6 | -22.6 | -14.5 | 7 |
| Nonfinancial corporate business; net capital transfers paid (2) | FA105440005 | -3.2 | 2.6 | -27.2 | -1.6 | 15.4 | -2.3 | -1.5 | -104 | -1.1 | 8 |
| Nonfinancial corporate business; gross saving including foreign earnings retained abroad less net capital transfers paid | FA106000105 | 1887.4 | 1826.7 | 1978.7 | 1816.6 | 1816.6 | 1853.1 | 1896.2 | 2052.6 | 2112.7 | 9 |
| Nonfinancial corporate business; gross investment | FA105090005 | 1875.2 | 1823.1 | 1971.7 | 1694.2 | 1911.2 | 1802.9 | 1936.6 | 2055.1 | 2092.2 | 10 |
| Nonfinancial corporate business; total capital expenditures | FA105050005 | 1800.3 | 1673.8 | 1741.5 | 1658.6 | 1700 | 1685.8 | 1718.8 | 1784.7 | 1776.6 | 11 |
| Nonfinancial corporate business; gross fixed investment (3) | FA105019005 | 1674.3 | 1635.7 | 1731.9 | 1644.4 | 1638.9 | 1688.1 | 1715.3 | 1751.4 | 1772.8 | 12 |
| Nonfinancial corporate business; inventories including IVA | FA105020005 | 96.4 | 30.6 | 10.2 | 13.8 | 62 | -1.6 | 4 | 34.1 | 4.3 | 13 |
| Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) | FA105420005 | 29.6 | 7.5 | -0.6 | 0.4 | -0.8 | -0.7 | -0.5 | -0.9 | -0.4 | 14 |
| Nonfinancial corporate business; net lending (+) or borrowing (-) (financial account) | FA105000005 | 74.9 | 149.3 | 230.2 | 35.6 | 211.2 | 117.1 | 217.8 | 270.4 | 315.6 | 15 |
| Nonfinancial corporate business; total financial assets | FA104090005 | 1488.7 | 1265.6 | 1125.2 | 1300.4 | 1074.1 | 1047.2 | 1258.5 | 1194.6 | 1000.6 | 16 |
| Nonfinancial corporate business; private foreign deposits; asset | FA103091003 | -16.5 | 4.9 | 48.1 | 13.3 | 3.4 | -17.5 | 46.9 | 231.1 | -67.9 | 17 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FA103020005 | 76.1 | 131.9 | 208.2 | 97.5 | 50.6 | 186.9 | 264.3 | 161.6 | 220.1 | 18 |
| Nonfinancial corporate business; total time and savings deposits; asset | FA103030003 | -14.9 | 47 | 49.4 | 168.1 | 10.5 | 0.4 | 75.9 | 107.6 | 13.6 | 19 |
| Nonfinancial corporate business; money market fund shares; asset | FA103034003 | 18.6 | -89 | -15.6 | -98.5 | -61 | -76 | -84.8 | 45.5 | 52.7 | 20 |
| Nonfinancial corporate business; security repurchase agreements; asset | FA102051003 | 6.4 | 12.3 | -17.5 | 73.9 | -7.2 | -25.5 | -11.7 | -22.2 | -10.5 | 21 |
| Nonfinancial corporate business; debt securities; asset | FA104022005 | -5.7 | 33.2 | 13.7 | 108.2 | 1.9 | -0.9 | 46.7 | -0.9 | 9.8 | 22 |
| Nonfinancial corporate business; commercial paper; asset | FA103069100 | -1 | 5.6 | -6.1 | 14.3 | -12 | -14.7 | 22.1 | -9 | -22.9 | 23 |
| Nonfinancial corporate business; Treasury securities; asset | FA103061103 | -4.3 | 3.7 | 0.7 | 16.3 | 4.9 | -17.2 | 9.7 | -7.1 | 17.4 | 24 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | FA103061703 | -1.4 | 1.2 | 0.2 | -14.6 | 1.6 | -5.7 | 3.2 | -2.4 | 5.8 | 25 |
| Nonfinancial corporate business; municipal securities; asset | FA103062003 | 1 | 22.6 | 18.9 | 92.1 | 7.4 | 36.8 | 11.8 | 17.6 | 9.4 | 26 |
| Nonfinancial corporate business; loans; asset | FA104023005 | 24.3 | 6.8 | 6.6 | 0 | 17 | 24.8 | -13.5 | 1.1 | 14 | 27 |
| Nonfinancial corporate business; total mortgages; asset | FA103065003 | 23.5 | 7.5 | 7.5 | 7.5 | 7.5 | 7.5 | 7.5 | 7.5 | 7.5 | 28 |
| Nonfinancial corporate business; consumer credit; asset | FA103066005 | 0.8 | -0.8 | -0.9 | -7.5 | 9.4 | 17.3 | -21 | -6.4 | 6.4 | 29 |
| Nonfinancial corporate business; mutual fund shares; asset | FA103064203 | 7.4 | -10.3 | -10.3 | -10.3 | -10.3 | -10.3 | -10.3 | -10.3 | -10.3 | 30 |
| Nonfinancial corporate business; trade receivables; asset | FA103070005 | 31.4 | 107.1 | 129.4 | 53 | 212.7 | 121.8 | 95.9 | 154.6 | 145.2 | 31 |
| Nonfinancial corporate business; U.S. direct investment abroad; asset (4) | FA103092005 | 260.4 | 253.8 | 260.3 | 268.4 | 265.2 | 363.2 | 278 | 198.6 | 201.4 | 32 |
| Nonfinancial corporate business; total miscellaneous assets | FA103090005 | 1101.4 | 767.9 | 452.9 | 626.9 | 591.3 | 480.2 | 571.2 | 327.7 | 432.5 | 33 |
| Nonfinancial corporate business; insurance receivables due from property-casualty insurance companies; asset | FA103076005 | 2.3 | 6.6 | 20.9 | 14.8 | -4.1 | -10.5 | 22.5 | 71.4 | 0.3 | 34 |
| Nonfinancial corporate business; equity in Fannie Mae and Farm Credit System; asset | FA103092405 | 0.1 | 0.1 | 0.2 | -0.2 | 0.1 | 0.5 | -0.3 | 0.6 | 0 | 35 |
| Nonfinancial corporate business; equity investment in finance company subsidiaries; asset | FA103094105 | 2.2 | -13.1 | 12.6 | -28.5 | 7 | -0 | 16.4 | -0.6 | 34.8 | 36 |
| Nonfinancial corporate business; unidentified miscellaneous assets | FA103093005 | 1096.8 | 774.4 | 419.1 | 640.8 | 588.2 | 490.1 | 532.6 | 256.3 | 397.4 | 37 |
| Nonfinancial corporate business; total liabilities | FA104190005 | 1413.8 | 1116.2 | 895 | 1264.8 | 862.9 | 930 | 1040.7 | 924.1 | 685 | 38 |
| Nonfinancial corporate business; debt securities; liability | FA104122005 | 407.3 | 297.3 | 299 | 217.6 | 69.1 | 435.7 | 262.2 | 392.4 | 105.9 | 39 |
| Nonfinancial corporate business; commercial paper; liability | FA103169100 | -5.4 | 4.1 | 26 | -140.1 | 121.4 | 12 | 33.2 | 69.5 | -10.6 | 40 |
| Nonfinancial corporate business; municipal securities; liability (5) | FA103162000 | 13.2 | 15.6 | 13.6 | 16.4 | 9 | -2.8 | 15.8 | -12.2 | 53.8 | 41 |
| Nonfinancial corporate business; corporate bonds; liability (4) | FA103163003 | 399.5 | 277.6 | 259.4 | 341.3 | -61.3 | 426.4 | 213.2 | 335.1 | 62.7 | 42 |
| Nonfinancial corporate business; loans; liability | FA104123005 | 101.4 | 104.1 | 190.9 | 270.5 | -45.2 | 176.9 | 273.1 | 243.2 | 70.3 | 43 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FA103168005 | 78.1 | 50.1 | 32.7 | 114.9 | -64.5 | 52 | -9.5 | 88.3 | -0 | 44 |
| Nonfinancial corporate business; other loans and advances; liability (6) | FA103169005 | -17.5 | 14.4 | 124.6 | 90.1 | -12.6 | 104.6 | 233.9 | 120.9 | 39 | 45 |
| Nonfinancial corporate business; total mortgages; liability | FA103165005 | 40.8 | 39.6 | 33.6 | 65.5 | 31.9 | 20.3 | 48.7 | 33.9 | 31.4 | 46 |
| Nonfinancial corporate business; corporate equities; liability | FA103164103 | -549.6 | -580.9 | -391.3 | -672.2 | -394.8 | -411.8 | -274.6 | -549.7 | -329 | 47 |
| Nonfinancial corporate business; trade payables; liability | FA103170005 | 22.4 | 97.2 | 101.8 | 130.3 | 131.6 | 80.3 | 93.4 | 123.9 | 109.4 | 48 |
| Nonfinancial corporate business; taxes payable; liability | FA103178000 | -1.3 | 10.9 | -11.8 | 0.3 | 91.9 | 7.9 | 8.9 | -2.2 | -61.9 | 49 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability | FA103192005 | 436.2 | 386.8 | 263.2 | 403.5 | 174.7 | 262.3 | 249.8 | 259.3 | 281.5 | 50 |
| Nonfinancial corporate business; total miscellaneous liabilities | FA103190005 | 997.5 | 800.9 | 443.2 | 914.8 | 835.6 | 378.7 | 427.9 | 457.4 | 508.7 | 51 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | 14.7 | 5.6 | 6.1 | 3.1 | 9.5 | 8.5 | 1.8 | 6.1 | 8.1 | 52 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FA573073005 | 93.6 | 50 | 55.4 | 29.3 | 104.6 | 90.1 | 4 | 49.8 | 77.7 | 53 |
| Nonfinancial corporate business; unidentified miscellaneous liabilities | FA103193005 | 889.2 | 745.4 | 381.6 | 882.4 | 721.4 | 280.1 | 422.1 | 401.5 | 422.9 | 54 |
| Nonfinancial corporate business; sector discrepancy | FA107005005 | 12.2 | 3.6 | 7 | 122.4 | -94.7 | 50.2 | -40.4 | -2.5 | 20.5 | 55 |
| Nonfinancial corporate business; capital expenditures less the sum of U.S. internal funds and IVA (financing gap) (7) | FA105005305 | 121.1 | 45.3 | 3.6 | 27.4 | 108.2 | 54.8 | 62 | 18.5 | -121.1 | 56 |
NOTES
- Consumption of fixed capital plus the capital consumption adjustment.
- Table F.5, line 58.
- Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 10 and 15 respectively.
- Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.
- Industrial revenue bonds issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
- Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.
- Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
Last Update: March 8, 2018