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 | 2017 Q1 | 2017 Q2 | 2017 Q3 | 2017 Q4 | 2018 Q1 | 2018 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; corporate profits before tax excluding IVA and CCAdj | FA106060005 | 1294.1 | 1254.3 | 1264.4 | 1315.4 | 1312.4 | 1281.8 | 1147.9 | 1179.9 | 1264.8 | 1 |
| Nonfinancial corporate business; taxes on corporate income | FA106231005 | 284 | 271.3 | 247 | 254.4 | 254.4 | 255.4 | 223.8 | 149.7 | 170.1 | 2 |
| Nonfinancial corporate business; net dividends paid | FA106121075 | 641.1 | 698.7 | 703.6 | 714.6 | 755.7 | 627.8 | 716.4 | -326.1 | 242.1 | 3 |
| Nonfinancial corporate business; inventory valuation adjustment (IVA) | FA105020601 | 52.8 | -1 | -45.5 | -63.8 | -13 | -30.8 | -74.4 | -74.1 | -90.2 | 4 |
| Nonfinancial corporate business; capital consumption allowance (1) | FA106300015 | 1317 | 1368.2 | 1474.8 | 1402.7 | 1413.9 | 1428.9 | 1653.6 | 1669.9 | 1688.9 | 5 |
| Nonfinancial corporate business; foreign earnings retained abroad | FA106006065 | 201.3 | 200.2 | 211.7 | 199.6 | 217.2 | 148.4 | 281.5 | -690.2 | -207.4 | 6 |
| Nonfinancial corporate business; net capital transfers paid (2) | FA105440005 | -3.2 | 2.6 | 180.3 | -2.3 | -1.5 | -104 | 828.9 | -1.1 | -0.9 | 7 |
| Nonfinancial corporate business; gross saving including foreign earnings retained abroad less net capital transfers paid | FA106000105 | 1943.4 | 1849 | 1774.4 | 1887.2 | 1921.8 | 2049.1 | 1239.5 | 2262.9 | 2244.8 | 8 |
| Nonfinancial corporate business; gross investment | FA105090005 | 2121.1 | 1817 | 1804.5 | 1966.6 | 2016.8 | 2088.9 | 1145.7 | 1955.7 | 1946.4 | 9 |
| Nonfinancial corporate business; total capital expenditures | FA105050005 | 1915.7 | 1770.1 | 1889.8 | 1827.5 | 1865.3 | 1938.8 | 1927.4 | 1999 | 2014.5 | 10 |
| Nonfinancial corporate business; gross fixed investment (3) | FA105019005 | 1776.5 | 1735.5 | 1864.5 | 1817.8 | 1848.7 | 1883.8 | 1907.7 | 1968.1 | 2016.6 | 11 |
| Nonfinancial corporate business; inventories including IVA | FA105020005 | 109.9 | 27.7 | 24.8 | 10.9 | 17.8 | 49.5 | 20.9 | 32.2 | -1 | 12 |
| Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) | FA105420005 | 29.3 | 6.9 | 0.5 | -1.2 | -1.2 | 5.6 | -1.1 | -1.3 | -1.1 | 13 |
| Nonfinancial corporate business; net lending (+) or borrowing (-) (financial account) | FA105000005 | 205.4 | 46.9 | -85.3 | 139.1 | 151.5 | 150.1 | -781.7 | -43.3 | -68.1 | 14 |
| Nonfinancial corporate business; total financial assets | FA104090005 | 1465 | 1462.2 | 1118 | 1009.6 | 1266.8 | 1173.9 | 1021.5 | 221.1 | 71.3 | 15 |
| Nonfinancial corporate business; private foreign deposits; asset | FA103091003 | -20.1 | 3.6 | 108.3 | -24.5 | 74.6 | 366.4 | 16.6 | 37.6 | -160.3 | 16 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FA103020005 | 67 | 160.2 | 143 | 156.4 | 341.7 | -0.7 | 74.7 | -184.7 | -101.7 | 17 |
| Nonfinancial corporate business; total time and savings deposits; asset | FA103030003 | -7.7 | 19.2 | 3.6 | -4.8 | 12.1 | 1.1 | 6.1 | -13.6 | -23.3 | 18 |
| Nonfinancial corporate business; money market fund shares; asset | FA103034000 | 19 | -112.6 | 11.5 | -0.2 | 3.5 | 42.3 | 0.5 | 12.8 | 51 | 19 |
| Nonfinancial corporate business; security repurchase agreements; asset | FA102051003 | 14 | 29.5 | -47.9 | -39.1 | -125 | -57.5 | 30 | -101 | -64.2 | 20 |
| Nonfinancial corporate business; debt securities; asset | FA104022005 | -4.1 | -9.2 | 42.8 | 59.2 | 60 | -4.6 | 56.7 | 3.4 | 83.6 | 21 |
| Nonfinancial corporate business; commercial paper; asset | FA103069100 | 0.6 | -11.8 | 32.7 | 41.9 | 48.9 | -12.9 | 53 | 43.2 | 72.8 | 22 |
| Nonfinancial corporate business; Treasury securities; asset | FA103061103 | -4.3 | 3.9 | 0.4 | -5.3 | 4.5 | -1.8 | 4.2 | -19.4 | 5.6 | 23 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | FA103061703 | -1.4 | 1.3 | 0.1 | -1.8 | 1.5 | -0.6 | 1.4 | -6.5 | 1.9 | 24 |
| Nonfinancial corporate business; municipal securities; asset | FA103062003 | 1 | -2.6 | 9.5 | 24.3 | 5 | 10.7 | -1.9 | -13.9 | 3.2 | 25 |
| Nonfinancial corporate business; loans; asset | FA104023005 | 2.4 | 0.6 | -2.8 | -1.2 | -31.4 | -9.2 | 30.8 | -8.9 | -32.2 | 26 |
| Nonfinancial corporate business; total mortgages; asset | FA103065003 | 2.3 | -1.1 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | -1.8 | 27 |
| Nonfinancial corporate business; consumer credit; asset | FA103066005 | 0.1 | 1.7 | -0.9 | 0.6 | -29.6 | -7.4 | 32.7 | -7.1 | -30.4 | 28 |
| Nonfinancial corporate business; corporate equities; asset | FA103064103 | -42.3 | 54.6 | -115.9 | -109.7 | -112.6 | -117 | -124.2 | -115.9 | -115.9 | 29 |
| Nonfinancial corporate business; mutual fund shares; asset | FA103064203 | 7.7 | -11 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 30 |
| Nonfinancial corporate business; trade receivables; asset | FA103070005 | 32.7 | 223.3 | 271.4 | 185.6 | 209.4 | 402.5 | 288.2 | 271.5 | 310.8 | 31 |
| Nonfinancial corporate business; U.S. direct investment abroad; asset (4) | FA103092005 | 264.1 | 254.5 | 276.9 | 414.2 | 112.4 | 212.3 | 368.8 | -558.4 | -245.1 | 32 |
| Nonfinancial corporate business; total miscellaneous assets | FA103090005 | 1132.2 | 849.4 | 421.6 | 368.5 | 716.8 | 333 | 268 | 872.9 | 363.5 | 33 |
| Nonfinancial corporate business; total liabilities | FA104190005 | 1259.6 | 1415.3 | 1203.2 | 870.5 | 1115.3 | 1023.8 | 1803.3 | 264.3 | 139.4 | 34 |
| Nonfinancial corporate business; debt securities; liability | FA104122005 | 425.9 | 287.6 | 302.3 | 448.7 | 273.7 | 386.1 | 100.8 | 266.1 | -8.5 | 35 |
| Nonfinancial corporate business; commercial paper; liability | FA103169100 | -3 | 1.8 | 25.9 | 11.4 | 32.5 | 68.8 | -9.2 | 3.5 | 15.5 | 36 |
| Nonfinancial corporate business; municipal securities; liability (5) | FA103162000 | 13.4 | 15.4 | 13.4 | 1.2 | 19.1 | -16.5 | 50 | -10.8 | -0.8 | 37 |
| Nonfinancial corporate business; corporate bonds; liability (4) | FA103163003 | 415.4 | 270.4 | 263 | 436.1 | 222.1 | 333.7 | 60 | 273.3 | -23.3 | 38 |
| Nonfinancial corporate business; loans; liability | FA104123005 | 160.3 | 158.5 | 161.7 | 93.1 | 256.3 | 152.8 | 144.4 | -14.7 | 361.3 | 39 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FA103168005 | 104.8 | 55.8 | 40.1 | 24.2 | 39.3 | 75.8 | 21 | 28.1 | 92.6 | 40 |
| Nonfinancial corporate business; other loans and advances; liability (6) | FA103169005 | -6.1 | 50 | 76.8 | 46.3 | 173.3 | 43.1 | 44.4 | -105.4 | 157.6 | 41 |
| Nonfinancial corporate business; total mortgages; liability | FA103165005 | 61.7 | 52.7 | 44.8 | 22.6 | 43.7 | 34 | 79.1 | 62.7 | 111.1 | 42 |
| Nonfinancial corporate business; corporate equities; liability | FA103164103 | -549.6 | -576.8 | -315.3 | -359.3 | -208.9 | -470.5 | -222.3 | -404.5 | -841.2 | 43 |
| Nonfinancial corporate business; trade payables; liability | FA103170005 | 22.4 | 194.6 | 220.8 | 100.8 | 169 | 305.7 | 307.6 | 208.4 | 265 | 44 |
| Nonfinancial corporate business; total taxes payable; liability | FA103178005 | -1.3 | -8.8 | 212 | 11.6 | 5.7 | -10.4 | 841.2 | -11.8 | -91.9 | 45 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability | FA103192005 | 412.7 | 408.5 | 248.4 | 320.4 | 266.3 | 242.3 | 164.7 | 196.8 | -36.1 | 46 |
| Nonfinancial corporate business; total miscellaneous liabilities | FA103190005 | 789.2 | 951.6 | 373.2 | 255.2 | 353.2 | 417.7 | 466.8 | 24.1 | 490.9 | 47 |
| Private pension funds; pension fund contributions receivable; asset | FA573074005 | 15.2 | 3.9 | 8.9 | 12.5 | 3.5 | 6.4 | 13.2 | 13 | 13.6 | 48 |
| Private defined benefit pension funds; claims of pension fund on sponsor; asset | FA573073005 | 59.5 | 63.2 | 37.5 | 100.4 | 12.2 | 18.4 | 19 | -30.6 | -33.9 | 49 |
| Nonfinancial corporate business; unidentified miscellaneous liabilities | FA103193005 | 714.6 | 884.5 | 326.8 | 142.3 | 337.5 | 392.9 | 434.6 | 41.7 | 511.2 | 50 |
| Nonfinancial corporate business; sector discrepancy | FA107005005 | -177.7 | 32 | -30.1 | -79.4 | -94.9 | -39.8 | 93.8 | 307.2 | 298.4 | 51 |
| Nonfinancial corporate business; difference between capital expenditures and gross savings less net capital transfers paid, excluding foreign earnings retained abroad (financing gap) (7) | FA105005305 | 173.7 | 121.2 | 327 | 139.9 | 160.6 | 38.1 | 969.4 | -954.1 | -437.7 | 52 |
NOTES
- Consumption of fixed capital plus the capital consumption adjustment.
- Table F.5, line 61.
- 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: September 20, 2018