Financial Accounts of the United States - Z.1
F.223 Direct Investment Intercompany Debt
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2022 | 2023 | 2024 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Rest of the world; U.S. direct investment abroad: intercompany debt, including Netherlands Antillean Financial subsidiaries; liability (1) | FA263192305 | -46.6 | 34.0 | -56.1 | 59.4 | 5.2 | -5.8 | -126.0 | -65.3 | -27.2 | 1 |
| Rest of the world; U.S. direct investment abroad: intercompany debt, U.S. parents' claims; liability | FA263192313 | 1.9 | 91.3 | 14.9 | 88.6 | 136.6 | 36.6 | -5.9 | 10.1 | 18.7 | 2 |
| Rest of the world; foreign direct investment in U.S.: intercompany debt, U.S. parents' liabilities; asset | FA263092313 | 48.4 | 57.3 | 71.0 | 29.3 | 131.4 | 42.4 | 120.1 | 75.4 | 45.9 | 3 |
| Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) | FA103092305 | -31.9 | 29.2 | -41.8 | 48.1 | 6.9 | -5.6 | -104.3 | -56.4 | -1.0 | 4 |
| U.S.-chartered depository institutions; U.S. direct investment abroad: intercompany debt (market value) | FA763092305 | -3.7 | 1.4 | -2.7 | 4.3 | -1.7 | 1.0 | -5.7 | -0.6 | -5.3 | 5 |
| Property-casualty insurance companies; U.S. direct investment abroad: intercompany debt (market value) | FA513092305 | -2.4 | 0.5 | -2.2 | 1.5 | -0.7 | -0.1 | -3.2 | -1.5 | -3.8 | 6 |
| Life insurance companies, general accounts; U.S. direct investment abroad: intercompany debt (market value) | FA543092375 | -0.2 | -0.0 | -0.6 | 0.1 | 0.1 | -0.1 | -0.8 | -0.3 | -1.0 | 7 |
| Finance companies; U.S. direct investment abroad: intercompany debt (market value) | FA613092305 | -4.2 | 1.5 | -4.3 | 2.7 | 0.4 | -0.4 | -5.9 | -3.1 | -8.0 | 8 |
| Security brokers and dealers; U.S. direct investment abroad: intercompany debt (market value) | FA663092305 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 9 |
| Holding companies; U.S. direct investment abroad: intercompany debt (market value) | FA733092305 | -4.1 | 1.4 | -4.5 | 2.7 | 0.1 | -0.6 | -6.1 | -3.4 | -8.1 | 10 |
| Nonfinancial corporate business; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA103192305 | 54.3 | -18.1 | 54.4 | -39.4 | -37.5 | 1.9 | 121.3 | 49.4 | 45.0 | 11 |
| Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: intercompany debt; liability (market value) | FA115114305 | 0.0 | 0.6 | -0.1 | 0.5 | 2.3 | -0.2 | 0.6 | -0.2 | -0.5 | 12 |
| Foreign banking offices in the U.S.; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA753192305 | -0.5 | 0.5 | 2.0 | -0.2 | -1.0 | 0.6 | 3.0 | 0.9 | 3.5 | 13 |
| Property-casualty insurance companies; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA513192305 | -0.3 | 0.1 | 1.5 | 0.1 | -0.8 | 0.7 | 1.9 | 0.9 | 2.4 | 14 |
| Life insurance companies, general accounts; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA543192375 | -5.2 | -0.8 | -0.0 | -0.9 | -1.4 | 0.5 | -0.2 | -0.2 | -0.1 | 15 |
| Finance companies; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA613192305 | -0.2 | -0.7 | 0.6 | -0.2 | -1.2 | -0.4 | 1.0 | 0.2 | 1.6 | 16 |
| Security brokers and dealers; foreign direct investment in U.S.: intercompany debt, adjusted for U.S. Intermediate Holding Companies; liability (market value) | FA663192305 | 0.4 | -0.3 | 2.9 | -2.2 | 0.3 | 1.8 | 2.8 | 2.0 | 5.1 | 17 |
| Holding companies; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA733192305 | -29.1 | 1.1 | -22.2 | 24.2 | -26.3 | -2.2 | -41.9 | -50.7 | 6.0 | 18 |
| Other financial business; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA503192305 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 19 |
| Rest of the world; foreign direct investment in U.S.: intercompany debt; asset (1) | FA263092305 | 19.4 | -17.6 | 39.1 | -18.1 | -65.8 | 2.7 | 88.4 | 2.3 | 63.0 | 20 |
| Rest of the world; foreign direct investment in U.S.: intercompany debt, U.S. affiliates' liabilities; asset | FA263092323 | 27.1 | -14.8 | 26.2 | -32.2 | -29.1 | -29.1 | 57.8 | 23.3 | 52.8 | 21 |
| Rest of the world; U.S. direct investment abroad: intercompany debt, U.S. affiliates' claims; liability | FA263192323 | 7.7 | 2.8 | -12.9 | -14.0 | 36.7 | -31.8 | -30.7 | 21.1 | -10.2 | 22 |
| Rest of the world; U.S. direct investment abroad, including Netherlands Antillean Financial subsidiaries; liability (market value) | FA263192005 | 332.4 | 394.0 | 222.2 | 464.3 | 497.3 | 438.4 | 118.6 | 234.1 | 97.7 | 23 |
| Rest of the world; foreign direct investment in U.S.; asset (market value) | FA263092001 | 352.9 | 288.7 | 321.5 | 251.7 | 231.7 | 261.0 | 376.5 | 290.1 | 358.4 | 24 |
NOTES
- Direct investment is presented on a directional basis and reported at market value.
- Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
Last Update: March 13, 2025