S.4.a Nonfinancial Noncorporate Business (1)
Billions of dollars
Description Series code 2017 2018 2019 2020 2021 2022 2023 2024 Line
Nonfinancial noncorporate business; gross value added FA116902505 3411.9 3614.2 3767.5 3552.4 4015.5 4508.7 4771.5 ND 1
Nonfinancial noncorporate business; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis FA116300001 326.6 342.6 357.7 371.8 397.9 447.6 474.6 496.9 2
Nonfinancial noncorporate business; net value added FA116902605 3085.3 3271.7 3409.7 3180.6 3617.6 4061.1 4296.9 ND 3
Nonfinancial noncorporate business; compensation of employees paid FA116025001 1093.7 1150.9 1210.0 1184.9 1314.1 1432.5 1514.6 1565.6 4
Nonfinancial noncorporate business; wages and salaries paid FA116020001 927.7 975.5 1027.8 1007.1 1124.7 1230.6 1295.3 ND 5
Nonfinancial noncorporate business; employers' social contributions paid FA116401005 166.0 175.4 182.1 177.8 189.4 201.9 219.3 ND 6
Nonfinancial noncorporate business; taxes on production and imports less subsidies, payable FA116240101 223.7 244.6 253.6 28.3 84.9 289.1 320.0 340.6 7
Nonfinancial noncorporate business; operating surplus, net FA116402105 1768.0 1876.2 1946.2 1967.4 2218.6 2339.5 2462.2 ND 8
Nonfinancial noncorporate business; net national income/balance of primary incomes, net FA116140001 29.0 33.2 26.3 26.6 37.7 41.8 35.8 42.8 9
Nonfinancial noncorporate business; operating surplus, net FA116402105 1768.0 1876.2 1946.2 1967.4 2218.6 2339.5 2462.2 ND 10
Nonfinancial noncorporate business; interest received FA116130101 17.8 20.1 20.8 19.2 17.5 22.1 25.0 ND 11
Nonfinancial noncorporate business; uses of property income (paid) FA116150005 1756.8 1863.0 1940.8 1960.0 2198.5 2319.8 2451.4 ND 12
Nonfinancial noncorporate business; interest paid FA116130001 253.5 258.7 274.3 292.2 288.8 313.5 357.5 ND 13
Nonfinancial noncorporate business; withdrawals from income of quasi-corporations, paid (2) FA116122001 1503.0 1603.2 1665.0 1666.8 1907.4 2004.3 2092.1 ND 14
Nonfinancial noncorporate business; reinvested earnings on foreign direct investment in U.S.; paid FA113192281 0.3 1.1 1.5 1.0 2.3 2.0 1.8 ND 15
Nonfinancial noncorporate business; rents on land and natural resources paid FA116112001 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ND 16
Nonfinancial noncorporate business; net national income/balance of primary incomes, net FA116140001 29.0 33.2 26.3 26.6 37.7 41.8 35.8 42.8 17
Nonfinancial noncorporate business; other current transfers paid FA116403001 29.0 33.2 26.3 26.6 37.7 41.8 35.8 42.8 18
Nonfinancial noncorporate business; disposable income, net; net saving FA116012005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19
Nonfinancial noncorporate business; disposable income, net; net saving FA116012005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20
Nonfinancial noncorporate business; net saving less net capital transfers paid FA116006305 9.4 3.0 0.0 0.0 7.5 10.1 0.0 8.9 21
Nonfinancial noncorporate business; disposable income, net; net saving FA116012005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
Nonfinancial noncorporate business; net capital transfers paid FA115440005 -9.4 -3.0 0.0 0.0 -7.5 -10.1 0.0 -8.9 23
Nonfinancial noncorporate business; capital formation, net FA115050985 85.6 72.5 99.9 65.9 92.5 129.9 127.4 140.1 24
Nonfinancial noncorporate business; gross fixed investment (IMA) FA115019085 410.9 411.7 456.9 449.2 489.4 561.5 597.2 625.3 25
Nonfinancial noncorporate business; nonresidential gross fixed capital formation FA115013085 284.3 279.0 319.2 297.1 308.0 369.7 405.3 418.7 26
Nonfinancial noncorporate business; gross fixed investment, residential equipment and structures FA115012005 126.6 132.7 137.8 152.1 181.4 191.8 192.0 206.6 27
Nonfinancial noncorporate business; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis FA116300001 326.6 342.6 357.7 371.8 397.9 447.6 474.6 496.9 28
Nonfinancial noncorporate business; inventories FA115020005 1.3 3.4 0.7 -11.5 1.0 16.0 4.8 11.7 29
Nonfinancial noncorporate business; net lending (+) or borrowing (-) (capital account) FA115000905 -76.3 -69.5 -99.9 -65.9 -85.0 -119.8 -127.4 -131.2 30
Nonfinancial noncorporate business; net lending (+) or borrowing (-) (capital account) FA115000905 -76.3 -69.5 -99.9 -65.9 -85.0 -119.8 -127.4 -131.2 31
Nonfinancial noncorporate business; total financial assets FA114090005 613.6 309.1 123.7 1034.2 703.0 1056.1 211.2 236.3 32
Nonfinancial noncorporate business; total currency and deposits; asset FA114000005 117.9 59.3 49.4 262.8 173.6 60.4 47.1 61.0 33
Nonfinancial noncorporate business; checkable deposits and currency; asset FA113020005 26.7 11.5 13.8 60.0 78.2 14.4 12.1 24.5 34
Nonfinancial noncorporate business; total time and savings deposits; asset FA113030003 91.1 47.8 35.5 202.7 95.4 46.1 35.0 36.5 35
Nonfinancial noncorporate business; debt securities; asset FA114022005 6.9 1.9 -3.2 -1.6 2.3 21.5 0.0 3.2 36
Nonfinancial noncorporate business; total U.S. government securities; asset FA113061003 6.1 2.2 -1.1 -2.3 2.2 22.4 0.1 3.0 37
Nonfinancial noncorporate business; municipal securities; asset FA113062003 0.8 -0.3 -2.1 0.7 0.1 -0.9 -0.0 0.1 38
Nonfinancial noncorporate business; loans; asset FA114023005 8.4 1.0 1.7 2.6 -1.8 2.3 1.3 1.4 39
Nonfinancial noncorporate business; consumer credit; asset FA113066003 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40
Nonfinancial noncorporate business; total mortgages; asset FA113065005 8.4 1.0 1.7 2.6 -1.8 2.3 1.3 1.4 41
Nonfinancial noncorporate business; equity and investment fund shares; asset FA113081005 11.6 4.9 3.8 20.5 3.6 5.5 6.5 4.3 42
Nonfinancial noncorporate business; money market fund shares; asset FA113034003 9.1 4.8 3.5 20.2 2.4 4.6 3.3 3.5 43
Nonfinancial noncorporate business; equity in Farm Credit System; asset (3) FA113092405 2.6 0.2 0.3 0.2 1.3 0.9 3.2 0.8 44
Nonfinancial noncorporate business; insurance receivables due from property-casualty insurance companies; asset (4) FA113076005 4.0 -1.3 9.9 6.9 17.1 9.7 9.8 14.6 45
Nonfinancial noncorporate business; other accounts receivable; asset FA113096005 464.8 243.2 62.1 743.0 508.1 956.7 146.6 151.8 46
Nonfinancial noncorporate business; trade receivables; asset FA113070003 55.0 49.6 -89.4 176.6 80.1 143.2 28.5 29.7 47
Nonfinancial noncorporate business; Paycheck Protection Program receivables due from federal government; asset FA113072003 0.0 0.0 0.0 145.8 -102.3 -41.6 -1.9 0.0 48
Nonfinancial noncorporate business; unidentified miscellaneous assets FA113093005 409.7 193.6 151.4 420.6 530.4 855.0 119.9 122.0 49
Nonfinancial noncorporate business; total liabilities and equity FA114194005 689.8 378.6 223.7 1100.1 788.0 1175.9 338.6 380.2 50
Nonfinancial noncorporate business; loans including foreign direct investment intercompany debt; liability FA114135005 463.5 297.7 113.6 525.0 367.1 539.2 177.3 206.1 51
Nonfinancial noncorporate business; short-term loans; liability FA114141005 132.4 86.3 26.0 198.1 27.8 201.8 -14.4 31.6 52
Nonfinancial noncorporate business; depository institution loans n.e.c.; liability FA113168005 127.3 77.5 16.7 101.6 -30.3 158.1 -10.5 8.6 53
Nonfinancial noncorporate business; other loans and advances; liability FA113169005 5.1 8.8 9.3 96.5 58.1 43.7 -3.9 23.0 54
Nonfinancial noncorporate business; long-term loans; liability FA114142005 331.0 211.4 87.7 326.9 339.3 337.5 191.7 174.5 55
Nonfinancial noncorporate business; total mortgages; liability FA113165005 331.4 206.7 87.6 328.0 340.4 337.4 191.1 174.6 56
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: intercompany debt; liability (market value) FA115114305 -0.4 4.7 0.0 -1.1 -1.1 0.0 0.6 -0.1 57
Nonfinancial noncorporate business; equity and investment fund shares; liability FA113181005 109.6 -36.8 56.2 21.9 -131.4 -120.2 -21.4 -14.2 58
Nonfinancial noncorporate business; proprietors' equity in noncorporate business FA112090205 106.9 -41.8 52.3 19.9 -131.2 -120.8 -35.1 -13.6 59
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: equity; liability (market value) FA115114103 2.7 5.0 3.9 1.9 -0.2 0.6 13.7 -0.6 60
Nonfinancial noncorporate business; other accounts payable; liability FA113196005 116.8 117.8 53.8 553.2 552.3 756.9 182.7 188.3 61
Nonfinancial noncorporate business; trade payables; liability FA113170005 7.8 5.7 -57.0 131.4 68.3 90.0 23.0 17.8 62
Nonfinancial noncorporate business; taxes payable; liability FA113178003 4.6 18.4 6.8 7.6 32.3 27.4 9.6 10.0 63
Nonfinancial noncorporate business; unidentified miscellaneous liabilities FA113193003 104.4 93.6 104.0 414.2 451.7 639.4 150.1 160.4 64
Nonfinancial noncorporate business; net lending (+) or borrowing (-) (financial account) FA115000005 -76.3 -69.5 -99.9 -65.9 -85.0 -119.8 -127.4 -143.9 65
Nonfinancial noncorporate business; total other volume changes (IMA) FV118090105 -0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 66
Nonfinancial noncorporate business; nonfinancial assets FV112010005 -25.2 -13.4 0.0 0.0 -11.9 -13.3 0.0 0.0 67
Nonfinancial noncorporate business; other volume changes excluding disaster losses (IMA) FV118090085 25.2 13.4 0.0 0.0 11.9 13.3 -0.0 0.0 68
Nonfinancial noncorporate business; nonfinancial assets FR112010005 680.9 473.9 724.9 972.1 2514.1 755.0 -471.2 -43.7 69
Nonfinancial noncorporate business; real estate at market value FR115035005 631.1 422.6 689.4 907.6 2350.8 632.3 -544.2 -39.5 70
Nonfinancial noncorporate business; residential real estate at market value FR115035023 436.5 375.5 447.5 735.7 1580.6 463.5 -351.2 -0.3 71
Nonfinancial noncorporate business; nonresidential real estate at market value FR115035035 194.6 47.1 241.9 171.9 770.2 168.8 -193.0 -39.2 72
Nonfinancial noncorporate business; equipment, current cost basis FR115015205 37.4 50.3 35.9 57.4 112.3 104.4 64.5 7.0 73
Nonfinancial noncorporate business; residential equipment, current cost basis FR115012265 -1.5 4.0 -2.5 7.3 6.9 -0.8 -6.6 -2.5 74
Nonfinancial noncorporate business; nonresidential equipment, current cost basis FR115013265 38.9 46.2 38.4 50.1 105.4 105.2 71.2 9.5 75
Nonfinancial noncorporate business; nonresidential intellectual property products, current cost basis FR115013765 5.9 2.9 3.2 13.3 7.4 10.9 9.4 -16.6 76
Nonfinancial noncorporate business; inventories FR115020005 6.4 -1.8 -3.6 -6.3 43.6 7.4 -0.9 5.5 77
Nonfinancial noncorporate business; debt securities; asset FR114022005 0.1 -1.2 3.2 3.5 -4.2 -11.8 2.1 -0.9 78
Nonfinancial noncorporate business; revaluation of equity and foreign direct investment; liability (IMA) FR114190085 690.3 475.7 728.1 975.6 2517.4 753.4 -469.2 -35.8 79
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: intercompany debt; liability (market value) FR115114305 0.1 0.1 -0.2 -0.1 -0.1 -0.3 -0.0 0.3 80
Nonfinancial noncorporate business; proprietors' equity in noncorporate business FR112090205 688.1 457.7 705.3 963.8 2504.9 784.0 -500.6 -57.5 81
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: equity; liability (market value) FR115114103 2.1 18.0 22.9 11.9 12.7 -30.3 31.5 21.5 82
Nonfinancial noncorporate business; changes in net worth due to nominal holding gains/losses (IMA) FR118200005 -9.4 -3.0 -0.0 -0.0 -7.5 -10.1 0.0 -8.9 83
Nonfinancial noncorporate business; net worth (IMA) FC112090095 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84
Nonfinancial noncorporate business; total assets FL112000005 18886.6 19727.6 20679.3 22755.1 26048.6 27964.6 27834.1 28178.6 85
Nonfinancial noncorporate business; nonfinancial assets LM112010005 13349.2 13882.2 14707.0 15745.0 18339.6 19211.3 18867.5 18976.6 86
Nonfinancial noncorporate business; real estate at market value LM115035005 11973.8 12459.0 13234.8 14235.9 16681.5 17403.4 16977.0 17052.6 87
Nonfinancial noncorporate business; residential real estate at market value (5) LM115035023 6791.9 7181.6 7657.8 8431.6 10057.7 10556.2 10248.0 10288.3 88
Nonfinancial noncorporate business; nonresidential real estate at market value LM115035035 5181.9 5277.4 5577.0 5804.3 6623.8 6847.2 6729.1 6764.3 89
Nonfinancial noncorporate business; equipment, current cost basis LM115015205 839.2 868.5 894.9 921.1 999.7 1085.9 1126.3 1114.5 90
Nonfinancial noncorporate business; residential equipment, current cost basis LM115012265 55.0 63.4 64.7 76.0 87.9 91.6 89.5 91.4 91
Nonfinancial noncorporate business; nonresidential equipment, current cost basis LM115013265 784.2 805.0 830.2 845.2 911.8 994.3 1036.8 1023.1 92
Nonfinancial noncorporate business; nonresidential intellectual property products, current cost basis LM115013765 276.6 293.6 319.1 347.5 373.4 413.6 451.8 480.0 93
Nonfinancial noncorporate business; inventories LM115020005 259.5 261.1 258.2 240.4 285.0 308.5 312.4 329.5 94
Nonfinancial noncorporate business; total financial assets FL114090005 5537.5 5845.4 5972.4 7010.1 7709.0 8753.4 8966.6 9201.9 95
Nonfinancial noncorporate business; total currency and deposits; asset FL114000005 1306.1 1365.4 1414.7 1677.5 1851.1 1911.5 1958.6 2019.6 96
Nonfinancial noncorporate business; checkable deposits and currency; asset FL113020005 306.0 317.4 331.3 391.3 469.5 483.9 496.0 520.5 97
Nonfinancial noncorporate business; total time and savings deposits; asset FL113030003 1000.1 1047.9 1083.4 1286.2 1381.6 1427.6 1462.6 1499.1 98
Nonfinancial noncorporate business; debt securities; asset LM114022005 75.1 75.8 75.9 77.8 75.9 85.7 87.8 90.0 99
Nonfinancial noncorporate business; total U.S. government securities; asset LM113061003 69.0 70.2 72.1 73.2 71.3 82.5 84.5 86.7 100
Nonfinancial noncorporate business; municipal securities; asset LM113062003 6.0 5.6 3.8 4.6 4.7 3.2 3.3 3.4 101
Nonfinancial noncorporate business; loans; asset FL114023005 48.0 49.0 50.7 53.4 51.6 53.8 55.2 56.5 102
Nonfinancial noncorporate business; consumer credit; asset FL113066003 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103
Nonfinancial noncorporate business; total mortgages; asset FL113065005 48.0 49.0 50.7 53.4 51.6 53.8 55.2 56.5 104
Nonfinancial noncorporate business; equity and investment fund shares; asset FL113081005 112.1 117.0 120.8 141.3 144.9 150.4 156.9 161.2 105
Nonfinancial noncorporate business; money market fund shares; asset FL113034003 99.8 104.6 108.1 128.3 130.7 135.3 138.6 142.1 106
Nonfinancial noncorporate business; equity in Farm Credit System; asset (3) FL113092405 12.3 12.5 12.7 13.0 14.2 15.1 18.3 19.1 107
Nonfinancial noncorporate business; insurance receivables due from property-casualty insurance companies; asset (4) FL113076005 120.3 118.9 128.9 135.8 152.9 162.7 172.4 187.0 108
Nonfinancial noncorporate business; other accounts receivable; asset FL113096005 3876.0 4119.3 4181.3 4924.3 5432.5 6389.1 6535.7 6687.5 109
Nonfinancial noncorporate business; trade receivables; asset FL113070003 802.9 852.6 763.2 939.8 1019.9 1163.1 1191.6 1221.4 110
Nonfinancial noncorporate business; Paycheck Protection Program receivables due from federal government; asset FL113072003 0.0 0.0 0.0 145.8 43.5 1.9 0.0 0.0 111
Nonfinancial noncorporate business; unidentified miscellaneous assets FL113093005 3073.1 3266.7 3418.1 3838.7 4369.1 5224.1 5344.0 5466.1 112
Nonfinancial noncorporate business; total liabilities and net worth FL112100005 18886.6 19727.6 20679.3 22755.1 26048.6 27964.6 27834.1 28178.6 113
Nonfinancial noncorporate business; total liabilities and equity FL114194005 18886.6 19727.6 20679.3 22755.1 26048.6 27964.6 27834.1 28178.6 114
Nonfinancial noncorporate business; loans including foreign direct investment intercompany debt; liability FL114135005 5576.4 5872.9 5985.5 6509.8 6895.0 7433.8 7610.7 7816.8 115
Nonfinancial noncorporate business; short-term loans; liability FL114141005 1629.3 1715.5 1741.5 1939.6 1986.0 2187.8 2173.4 2205.0 116
Nonfinancial noncorporate business; depository institution loans n.e.c.; liability FL113168005 1390.4 1467.9 1484.5 1586.1 1555.8 1713.9 1703.4 1712.1 117
Nonfinancial noncorporate business; other loans and advances; liability FL113169005 238.9 247.7 257.0 353.5 430.2 473.9 469.9 492.9 118
Nonfinancial noncorporate business; long-term loans; liability FL114142005 3947.2 4157.4 4244.0 4570.2 4909.0 5246.0 5437.3 5611.8 119
Nonfinancial noncorporate business; total mortgages; liability FL113165005 3944.8 4150.3 4237.0 4564.4 4904.5 5241.7 5432.4 5606.7 120
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: intercompany debt; liability (market value) FL115114305 2.4 7.1 7.0 5.8 4.6 4.3 4.9 5.0 121
Nonfinancial noncorporate business; equity and investment fund shares; liability LM113181005 10913.9 11340.6 12126.1 13124.2 15480.1 16100.6 15610.4 15560.5 122
Nonfinancial noncorporate business; proprietors' equity in noncorporate business LM112090205 10889.5 11261.0 12018.0 13005.5 15355.3 16004.9 15470.0 15399.4 123
Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: equity; liability (market value) LM115114103 24.4 79.6 108.1 118.7 124.8 95.7 140.4 161.1 124
Nonfinancial noncorporate business; other accounts payable; liability FL113196005 2396.2 2514.0 2567.8 3121.0 3673.4 4430.3 4613.0 4801.3 125
Nonfinancial noncorporate business; trade payables; liability FL113170005 593.2 598.9 542.0 673.4 741.7 831.7 854.7 872.5 126
Nonfinancial noncorporate business; taxes payable; liability FL113178003 137.2 155.6 162.4 170.0 202.3 229.7 239.3 249.4 127
Nonfinancial noncorporate business; unidentified miscellaneous liabilities FL113193003 1665.9 1759.5 1863.5 2277.7 2729.4 3368.9 3518.9 3679.4 128
Nonfinancial noncorporate business; net worth (IMA) FL112090095 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

NOTES

  1. Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.
  2. Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
  3. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
  4. Net equity in reserves of property-casualty insurance companies.
  5. Farm houses are included in the household sector.
Last Update: March 13, 2025