Financial Accounts of the United States - Z.1
S11.1.b Nonfinancial corporate business 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 | 2026:Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Assets | FL102000005 | 61117.9 | 62595.5 | 67551.2 | 62775.8 | 64110.8 | 66124.9 | 67551.2 | 68893.4 | 70792.6 |
| Line 2 | Nonfinancial assets | LM102010005 | 29688.5 | 30240.5 | 31582.9 | 30177.2 | 30191.1 | 31397.4 | 31582.9 | 32458.1 | 32763.1 |
| Line 3 | Real estate (market value) | LM105035005 | 15705.0 | 15644.4 | 16094.9 | 15374.2 | 15223.7 | 16136.6 | 16094.9 | 16629.1 | 16615.0 |
| Line 4 | Equipment (replacement cost) | LM105015205 | 6539.8 | 6779.3 | 7211.5 | 6836.4 | 6945.0 | 7097.5 | 7211.5 | 7349.8 | 7519.3 |
| Line 5 | Intellectual property products (replacement cost) | LM105013765 | 3947.8 | 4242.6 | 4583.9 | 4307.5 | 4371.9 | 4473.1 | 4583.9 | 4674.6 | 4776.6 |
| Line 6 | Inventories (replacement cost) | LM105020015 | 3495.9 | 3574.2 | 3692.6 | 3659.0 | 3650.5 | 3690.3 | 3692.6 | 3804.5 | 3852.3 |
| Line 7 | Financial assets | FL104090005 | 31429.4 | 32355.0 | 35968.4 | 32598.7 | 33919.7 | 34727.5 | 35968.4 | 36435.3 | 38029.5 |
| Line 8 | Checkable deposits and currency | FL103020005 | 1917.2 | 2336.1 | 2604.2 | 2309.4 | 2334.7 | 2401.8 | 2604.2 | 2542.7 | 2785.8 |
| Line 9 | Time and savings deposits | FL103030003 | 434.0 | 429.5 | 447.0 | 394.6 | 382.3 | 406.0 | 447.0 | 471.2 | 504.0 |
| Line 10 | Other deposits (foreign deposits) | FL103091003 | 245.8 | 215.1 | 229.0 | 225.0 | 226.3 | 208.3 | 229.0 | 227.8 | 228.9 |
| Line 11 | Debt securities | LM104022005 | 400.1 | 542.5 | 597.7 | 554.7 | 560.6 | 572.9 | 597.7 | 597.7 | 631.4 |
| Line 12 | Commercial paper | FL103069100 | 209.8 | 216.9 | 244.5 | 217.9 | 222.2 | 227.5 | 244.5 | 258.8 | 300.8 |
| Line 13 | Treasury securities | LM103061103 | 111.4 | 215.9 | 236.3 | 225.3 | 226.5 | 231.4 | 236.3 | 225.2 | 218.6 |
| Line 14 | Agency- and GSE-backed securities | LM103061703 | 37.1 | 72.0 | 77.5 | 73.5 | 74.1 | 75.7 | 77.5 | 73.9 | 71.7 |
| Line 15 | Municipal securities | LM103062003 | 24.9 | 24.3 | 25.5 | 24.2 | 24.5 | 25.2 | 25.5 | 25.6 | 26.3 |
| Line 16 | Corporate bonds (held by equity REITs) | LM123063003 | 16.8 | 13.4 | 13.8 | 13.7 | 13.3 | 13.0 | 13.8 | 14.1 | 14.0 |
| Line 17 | Loans | FL104035005 | 168.2 | 193.6 | 238.9 | 205.9 | 212.0 | 241.6 | 238.9 | 259.5 | 288.5 |
| Line 18 | Security repurchase agreements | FL102051003 | 27.0 | 50.4 | 89.8 | 60.9 | 65.1 | 92.6 | 89.8 | 109.3 | 137.5 |
| Line 19 | Consumer credit | FL103066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 20 | Mortgages | FL103065005 | 141.2 | 143.2 | 149.1 | 145.1 | 146.9 | 149.0 | 149.1 | 150.2 | 151.0 |
| Line 21 | Corporate equities | LM103064103 | 2913.8 | 3260.5 | 3614.2 | 3077.3 | 3360.4 | 3576.8 | 3614.2 | 3403.8 | 3866.9 |
| Line 22 | U.S. direct investment abroad: equity | LM103092105 | 7583.1 | 8028.1 | 10194.6 | 8347.9 | 9167.3 | 9728.4 | 10194.6 | 10124.3 | 11072.2 |
| Line 23 | Equity in GSEs | FL103092405 | 1.9 | 2.1 | 2.2 | 2.2 | 2.1 | 2.1 | 2.2 | 2.3 | 2.2 |
| Line 24 | Money market fund shares | FL103034000 | 873.7 | 962.2 | 1098.1 | 982.1 | 991.4 | 1035.9 | 1098.1 | 1102.1 | 1119.8 |
| Line 25 | Mutual fund shares | LM103064203 | 325.2 | 405.4 | 432.2 | 392.2 | 416.6 | 432.1 | 432.2 | 416.4 | 454.3 |
| Line 26 | Trade receivables | FL103070005 | 5244.7 | 5580.4 | 5931.5 | 5744.5 | 5788.2 | 5850.3 | 5931.5 | 6198.3 | 6452.5 |
| Line 27 | U.S. direct investment abroad: intercompany debt | LM103092305 | -49.8 | -56.6 | -53.9 | -34.6 | -80.1 | -86.8 | -53.9 | -57.6 | -53.2 |
| Line 28 | Miscellaneous assets | FL103090005 | 11371.4 | 10456.3 | 10632.6 | 10397.4 | 10557.9 | 10358.2 | 10632.6 | 11146.8 | 10676.2 |
| Line 29 | Total liabilities and equity | FL104194005 | 89834.6 | 101844.4 | 113476.4 | 99160.4 | 105671.9 | 111257.4 | 113476.4 | 112224.8 | 126430.9 |
| Line 30 | Liabilities | FL104190005 | 29653.7 | 29269.2 | 30460.9 | 29876.2 | 29967.8 | 30038.5 | 30460.9 | 31157.5 | 31695.0 |
| Line 31 | Debt securities | FL104122005 | 8355.7 | 8639.4 | 8939.3 | 8808.5 | 8824.6 | 8898.6 | 8939.3 | 9136.2 | 9190.0 |
| Line 32 | Commercial paper | FL103169100 | 218.0 | 196.3 | 210.9 | 235.9 | 253.9 | 227.7 | 210.9 | 284.4 | 256.5 |
| Line 33 | Municipal securities(1) | FL103162000 | 624.8 | 637.8 | 653.1 | 644.2 | 654.2 | 650.0 | 653.1 | 655.6 | 655.5 |
| Line 34 | Corporate bonds | FL103163005 | 7513.0 | 7805.3 | 8075.3 | 7928.4 | 7916.5 | 8020.9 | 8075.3 | 8196.2 | 8278.0 |
| Line 35 | Loans | FL104135005 | 5721.1 | 5908.8 | 6230.0 | 5912.7 | 6027.6 | 6117.5 | 6230.0 | 6382.8 | 6517.8 |
| Line 36 | Depository institution loans n.e.c. | FL103168005 | 1377.6 | 1290.6 | 1256.4 | 1215.3 | 1229.8 | 1228.2 | 1256.4 | 1332.4 | 1372.3 |
| Line 37 | Private credit loans | FL103167205 | 764.5 | 916.9 | 1087.9 | 948.7 | 990.1 | 1031.1 | 1087.9 | 1105.0 | 1120.8 |
| Line 38 | Other loans and advances | FL103169005 | 2227.8 | 2315.5 | 2436.4 | 2358.5 | 2400.5 | 2428.5 | 2436.4 | 2480.6 | 2545.1 |
| Line 39 | Mortgages | FL103165005 | 1351.3 | 1385.8 | 1449.3 | 1390.3 | 1407.2 | 1429.7 | 1449.3 | 1464.9 | 1479.6 |
| Line 40 | Trade payables | FL103170005 | 3852.2 | 3901.3 | 4312.9 | 4030.8 | 4118.1 | 4238.9 | 4312.9 | 4506.4 | 4692.5 |
| Line 41 | Taxes payable | FL103178005 | 249.7 | 266.5 | 200.4 | 370.1 | 244.7 | 214.3 | 200.4 | 215.7 | 218.1 |
| Line 42 | Foreign direct investment: intercompany debt | LM103192305 | 325.8 | 340.5 | 295.8 | 333.2 | 317.7 | 304.8 | 295.8 | 309.7 | 313.7 |
| Line 43 | Miscellaneous liabilities | FL103190005 | 11149.1 | 10212.6 | 10482.4 | 10420.9 | 10435.0 | 10264.3 | 10482.4 | 10606.8 | 10762.8 |
| Line 44 | Total equity (market value) | LM103181105 | 60180.9 | 72575.2 | 83015.5 | 69284.2 | 75704.1 | 81218.9 | 83015.5 | 81067.2 | 94736.0 |
| Line 45 | Corporate equities | LM103164105 | 51751.5 | 62768.0 | 71994.9 | 59428.5 | 65333.3 | 70397.2 | 71994.9 | 70018.4 | 83050.8 |
| Line 46 | Foreign direct investment: equity | LM103192105 | 8429.4 | 9807.2 | 11020.6 | 9855.6 | 10370.7 | 10821.6 | 11020.6 | 11048.9 | 11685.1 |
| Memo: | |||||||||||
| Line 47 | Net worth (assets minus liabilities) | FL102090005 | 31464.1 | 33326.4 | 37090.3 | 32899.6 | 34143.0 | 36086.4 | 37090.3 | 37735.9 | 39097.6 |
| Line 48 | Equity/net worth (percent)(2) | FL103164106 | 191.3 | 217.8 | 223.8 | 210.6 | 221.7 | 225.1 | 223.8 | 214.8 | 242.3 |
| Line 49 | Debt/equity (percent)(2) | FL104104016 | 23.4 | 20.0 | 18.3 | 21.2 | 19.6 | 18.5 | 18.3 | 19.1 | 16.6 |
| Line 50 | Debt/net worth (percent)(2) | FL104104006 | 44.7 | 43.7 | 40.9 | 44.7 | 43.5 | 41.6 | 40.9 | 41.1 | 40.2 |
| With nonfinancial assets stated at historical cost: | |||||||||||
| Line 51 | Assets (sum of lines 7 and 52) | FL102000115 | 51321.2 | 53252.5 | 58040.2 | 53829.5 | 55410.2 | 56502.7 | 58040.2 | 58868.8 | 60817.2 |
| Line 52 | Nonfinancial assets | FL102010115 | 19891.8 | 20897.4 | 22071.8 | 21230.9 | 21490.4 | 21775.2 | 22071.8 | 22433.4 | 22787.7 |
| Line 53 | Real estate | FL105035045 | 7743.5 | 8167.6 | 8588.6 | 8252.9 | 8357.7 | 8500.2 | 8588.6 | 8678.6 | 8767.1 |
| Line 54 | Equipment | FL105013213 | 5718.1 | 5955.7 | 6256.6 | 6025.5 | 6100.9 | 6178.3 | 6256.6 | 6345.6 | 6444.1 |
| Line 55 | Intellectual property products | FL105013715 | 3591.9 | 3851.5 | 4123.5 | 3914.1 | 3981.9 | 4051.5 | 4123.5 | 4200.4 | 4280.2 |
| Line 56 | Inventories | FL105020000 | 2838.3 | 2922.6 | 3103.1 | 3038.4 | 3049.9 | 3045.1 | 3103.1 | 3208.8 | 3296.3 |
| Line 57 | Net worth (historical cost) (line 51 less line 30) | FL102090115 | 21667.5 | 23983.3 | 27579.3 | 23953.3 | 25442.3 | 26464.2 | 27579.3 | 27711.2 | 29122.2 |
| Historical-cost value of structures: | |||||||||||
| Line 58 | Residential | FL105012613 | 153.3 | 162.5 | 171.1 | 164.8 | 166.9 | 169.0 | 171.1 | 173.1 | 175.1 |
| Line 59 | Nonresidential | FL105013613 | 6889.9 | 7284.0 | 7638.8 | 7377.4 | 7466.7 | 7553.8 | 7638.8 | 7722.4 | 7805.4 |
Notes:
- 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.
- Debt is calculated as the sum of debt securities and loans. Equity is total equity.
Last Update: September 11, 2026