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 | 2014 | 2015 | 2016 | 2017 | 2017 Q1 | 2017 Q2 | 2017 Q3 | 2017 Q4 | 2018 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; corporate profits before tax excluding IVA and CCAdj | FA106060005 | 1367.6 | 1275.7 | 1262.4 | 1303 | 1326.8 | 1348.9 | 1349.4 | 1186.9 | 1193.3 | 1 |
| Nonfinancial corporate business; taxes on corporate income | FA106231005 | 291.8 | 281.1 | 274.1 | 279 | 277.5 | 294.1 | 289.4 | 255 | 164.6 | 2 |
| Nonfinancial corporate business; net dividends paid | FA106121075 | 598.3 | 651.8 | 685.2 | 707.3 | 696.2 | 728.7 | 649.9 | 754.3 | -169.9 | 3 |
| Nonfinancial corporate business; inventory valuation adjustment (IVA) | FA105020601 | 4.1 | 52.4 | 2.7 | -49.1 | -75 | -33.6 | -22.6 | -65.4 | -81.4 | 4 |
| Nonfinancial corporate business; capital consumption allowance (1) | FA106300015 | 1209.2 | 1284 | 1322.8 | 1428.1 | 1352.9 | 1364.3 | 1379 | 1616.1 | 1623.4 | 5 |
| Nonfinancial corporate business; foreign earnings retained abroad | FA106006065 | 211 | 204.9 | 200.8 | 235.4 | 219.8 | 237.8 | 182.6 | 301.4 | -632.7 | 6 |
| Nonfinancial corporate business; net capital transfers paid (2) | FA105440005 | -6.7 | -3.2 | 2.6 | 180.3 | -2.3 | -1.5 | -104 | 828.9 | -1.1 | 7 |
| Nonfinancial corporate business; gross saving including foreign earnings retained abroad less net capital transfers paid | FA106000105 | 1908.5 | 1887.4 | 1826.7 | 1750.8 | 1853.1 | 1896.2 | 2053.1 | 1200.7 | 2109.2 | 8 |
| Nonfinancial corporate business; gross investment | FA105090005 | 1240.4 | 1875.2 | 1773.1 | 1626.5 | 1749.3 | 1929.6 | 1921.2 | 905.9 | 1873.4 | 9 |
| Nonfinancial corporate business; total capital expenditures | FA105050005 | 1699.9 | 1800.3 | 1673.8 | 1742.9 | 1685.8 | 1718.8 | 1784.9 | 1782.2 | 1837.3 | 10 |
| Nonfinancial corporate business; gross fixed investment (3) | FA105019005 | 1628 | 1674.3 | 1635.7 | 1731.4 | 1688.1 | 1715.3 | 1751.6 | 1770.9 | 1820.5 | 11 |
| Nonfinancial corporate business; inventories including IVA | FA105020005 | 70.1 | 96.4 | 30.6 | 12.1 | -1.6 | 4 | 34.1 | 11.8 | 17.4 | 12 |
| Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) | FA105420005 | 1.7 | 29.6 | 7.5 | -0.6 | -0.7 | -0.5 | -0.9 | -0.4 | -0.6 | 13 |
| Nonfinancial corporate business; net lending (+) or borrowing (-) (financial account) | FA105000005 | -459.5 | 74.9 | 99.3 | -116.5 | 63.5 | 210.8 | 136.3 | -876.3 | 36.2 | 14 |
| Nonfinancial corporate business; total financial assets | FA104090005 | 922.7 | 1488.7 | 1485.4 | 1096.3 | 865.4 | 1253.5 | 1186.5 | 1079.7 | 1095.7 | 15 |
| Nonfinancial corporate business; private foreign deposits; asset | FA103091003 | -10.6 | -20.1 | 3.6 | 106.3 | -24.5 | 74.6 | 366.4 | 8.5 | 11.4 | 16 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FA103020005 | 55.1 | 67.4 | 160.5 | 144.1 | 177 | 287.1 | 15.3 | 97.1 | 201.5 | 17 |
| Nonfinancial corporate business; total time and savings deposits; asset | FA103030003 | -22.7 | -7.7 | 19.2 | 4.3 | -4.8 | 13.3 | 2.2 | 6.6 | 1.7 | 18 |
| Nonfinancial corporate business; money market fund shares; asset | FA103034003 | 21.9 | 18.6 | -112.9 | -6.5 | -97.2 | -31.8 | 57.3 | 46 | 37.9 | 19 |
| Nonfinancial corporate business; security repurchase agreements; asset | FA102051003 | 39.5 | 14 | 29.5 | -25.6 | -39.8 | -40.2 | -53.9 | 31.5 | -20.9 | 20 |
| Nonfinancial corporate business; debt securities; asset | FA104022005 | 39.7 | -4.1 | -9.2 | 34 | 39.1 | 60.1 | 1.8 | 34.9 | 35.9 | 21 |
| Nonfinancial corporate business; commercial paper; asset | FA103069100 | 35.8 | 0.6 | -11.8 | 24.5 | 22 | 51.8 | -6.1 | 30.3 | 39.9 | 22 |
| Nonfinancial corporate business; Treasury securities; asset | FA103061103 | 2.9 | -4.3 | 3.9 | -0.3 | -5.3 | 3 | -1.7 | 2.9 | 0.7 | 23 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | FA103061703 | 1 | -1.4 | 1.3 | -0.1 | -1.8 | 1 | -0.6 | 1 | 0.2 | 24 |
| Nonfinancial corporate business; municipal securities; asset | FA103062003 | 0.1 | 1 | -2.6 | 9.8 | 24.1 | 4.2 | 10.2 | 0.8 | -4.9 | 25 |
| Nonfinancial corporate business; loans; asset | FA104023005 | 2.3 | 2.4 | 0.6 | -2.8 | 14.7 | -28.3 | 7.6 | -5.1 | 11.6 | 26 |
| Nonfinancial corporate business; total mortgages; asset | FA103065003 | 1.9 | 2.3 | -1.1 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | 27 |
| Nonfinancial corporate business; consumer credit; asset | FA103066005 | 0.3 | 0.1 | 1.7 | -0.9 | 16.6 | -26.5 | 9.5 | -3.3 | 13.5 | 28 |
| Nonfinancial corporate business; mutual fund shares; asset | FA103064203 | 15.2 | 7.4 | -11 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 29 |
| Nonfinancial corporate business; trade receivables; asset | FA103070005 | 104.7 | 32.1 | 218.8 | 220.8 | 139.1 | 165.7 | 252.1 | 326.2 | 280.2 | 30 |
| Nonfinancial corporate business; U.S. direct investment abroad; asset (4) | FA103092005 | 291.1 | 260.4 | 253.8 | 333.6 | 388.2 | 304.4 | 218 | 423.6 | -440.3 | 31 |
| Nonfinancial corporate business; total miscellaneous assets | FA103090005 | 386.5 | 1118.3 | 932.5 | 282.7 | 268.4 | 443.3 | 314.3 | 105.1 | 971.4 | 32 |
| Nonfinancial corporate business; insurance receivables due from property-casualty insurance companies; asset | FA103076005 | 10.4 | 2.3 | 6.6 | 13.9 | -10.5 | 22.5 | 71.4 | -27.8 | 9 | 33 |
| Nonfinancial corporate business; equity in Fannie Mae and Farm Credit System; asset | FA103092405 | 0.1 | 0.1 | 0.1 | 0.3 | 0.5 | -0.3 | 0.6 | 0.3 | 0.7 | 34 |
| Nonfinancial corporate business; equity investment in finance company subsidiaries; asset | FA103094105 | 15.8 | 2.2 | -13.1 | 12.6 | -0 | 16.4 | -9.6 | 43.6 | 7.5 | 35 |
| Nonfinancial corporate business; unidentified miscellaneous assets | FA103093005 | 360.2 | 1113.7 | 938.9 | 255.9 | 278.3 | 404.6 | 251.8 | 88.9 | 954.2 | 36 |
| Nonfinancial corporate business; total liabilities | FA104190005 | 1382.2 | 1413.8 | 1386.1 | 1212.8 | 802 | 1042.7 | 1050.2 | 1956 | 1059.5 | 37 |
| Nonfinancial corporate business; debt securities; liability | FA104122005 | 322.2 | 409.8 | 295.1 | 303.1 | 446.7 | 268.8 | 393.5 | 103.6 | 260.9 | 38 |
| Nonfinancial corporate business; commercial paper; liability | FA103169100 | 37.5 | -3 | 1.8 | 25.9 | 11.4 | 32.5 | 68.8 | -9.2 | 3.5 | 39 |
| Nonfinancial corporate business; municipal securities; liability (5) | FA103162000 | -0.7 | 13.2 | 15.2 | 13.1 | -2.9 | 15.4 | -12.9 | 52.8 | -16 | 40 |
| Nonfinancial corporate business; corporate bonds; liability (4) | FA103163003 | 285.4 | 399.6 | 278.2 | 264.2 | 438.2 | 220.9 | 337.5 | 60 | 273.4 | 41 |
| Nonfinancial corporate business; loans; liability | FA104123005 | 95.3 | 92.9 | 107.1 | 209.6 | 170.4 | 273.4 | 242.7 | 151.9 | 96.6 | 42 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FA103168005 | 70.3 | 78.1 | 50.1 | 34.5 | 52 | -9.5 | 88.3 | 7.2 | 60.7 | 43 |
| Nonfinancial corporate business; other loans and advances; liability (6) | FA103169005 | 63.1 | -17.5 | 12.1 | 126.6 | 103.7 | 231.7 | 120.7 | 50.3 | -3.3 | 44 |
| Nonfinancial corporate business; total mortgages; liability | FA103165005 | -38 | 32.4 | 44.9 | 48.5 | 14.6 | 51.2 | 33.7 | 94.4 | 39.2 | 45 |
| Nonfinancial corporate business; corporate equities; liability | FA103164103 | -394.5 | -549.6 | -576.8 | -378.8 | -403.3 | -267.7 | -539.1 | -305.1 | -386 | 46 |
| Nonfinancial corporate business; trade payables; liability | FA103170005 | 150.1 | 22.4 | 194.6 | 210.3 | 166.7 | 149.2 | 244.8 | 280.6 | 294.4 | 47 |
| Nonfinancial corporate business; total taxes payable; liability | FA103178005 | -1.4 | -1.3 | -8.8 | 213 | 8.5 | 13.1 | -20.3 | 850.6 | -13.4 | 48 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability | FA103192005 | 185.2 | 436.2 | 386.8 | 241.7 | 264.1 | 258.2 | 225 | 219.5 | 213.1 | 49 |
| Nonfinancial corporate business; total miscellaneous liabilities | FA103190005 | 1025.3 | 1003.4 | 988 | 413.8 | 148.9 | 347.6 | 503.8 | 654.9 | 593.9 | 50 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | -2.9 | 14.7 | 5.6 | 6.4 | 8.5 | 1.8 | 6.1 | 9.3 | 4.2 | 51 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FA573073005 | 51.9 | 93.6 | 50 | 55.4 | 90.1 | 4 | 49.8 | 77.7 | 27.1 | 52 |
| Nonfinancial corporate business; unidentified miscellaneous liabilities | FA103193005 | 976.2 | 895.2 | 932.5 | 352 | 50.2 | 341.9 | 447.9 | 567.9 | 562.6 | 53 |
| Nonfinancial corporate business; sector discrepancy | FA107005005 | 668.2 | 12.2 | 53.6 | 124.3 | 103.8 | -33.4 | 132 | 294.8 | 235.7 | 54 |
| Nonfinancial corporate business; difference between capital expenditures and gross savings less net capital transfers paid, excluding foreign earnings retained abroad (financing gap) (7) | FA105005305 | 2.3 | 117.9 | 47.9 | 227.5 | 52.5 | 60.4 | -85.7 | 882.9 | -904.6 | 55 |
NOTES
- Consumption of fixed capital plus the capital consumption adjustment.
- Table F.5, line 60.
- 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.
- The financing gap is the difference between capital expenditures (line 10) and gross savings less net capital transfers paid less foreign earnings retained abroad (line 8 minus line 6).
Last Update: June 7, 2018