Financial Accounts of the United States - Z.1
S11.t Nonfinancial business 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 | 2026:Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Income before taxes | FA146110005 | 4852.1 | 5164.4 | 5122.1 | 5000.1 | 5030.8 | 5196.7 | 5260.9 | 5572.1 | 5955.2 |
| Line 2 | Gross saving less net capital transfers paid | FA146000105 | 3366.8 | 3454.9 | 3711.1 | 3613.4 | 3585.8 | 3752.1 | 3893.0 | 4636.9 | 4259.2 |
| Line 3 | Gross investment | FA145090005 | 3411.3 | 3408.6 | 3557.8 | 3409.1 | 3036.6 | 3220.7 | 4564.7 | 4391.8 | 3551.6 |
| Line 4 | Capital expenditures | FA145050005 | 3465.9 | 3584.8 | 3699.9 | 3818.9 | 3610.4 | 3652.8 | 3717.4 | 3826.8 | 3888.4 |
| Line 5 | Fixed investment | FA145019005 | 3414.9 | 3534.5 | 3688.8 | 3610.4 | 3660.2 | 3716.6 | 3768.2 | 3872.3 | 3982.5 |
| Line 6 | Residential | FA145012005 | 209.1 | 211.6 | 207.5 | 217.1 | 214.2 | 202.7 | 196.1 | 202.2 | 202.6 |
| Line 7 | Nonresidential | FA145013005 | 3205.9 | 3322.9 | 3481.3 | 3393.2 | 3446.0 | 3513.8 | 3572.1 | 3670.2 | 3779.9 |
| Line 8 | Change in inventories | FA145020005 | 53.7 | 53.5 | 15.1 | 212.2 | -45.8 | -59.7 | -46.2 | -28.1 | -91.1 |
| Line 9 | Nonproduced nonfinancial assets | FA105420005 | -2.7 | -3.2 | -4.1 | -3.7 | -4.0 | -4.0 | -4.7 | -17.5 | -3.1 |
| Line 10 | Net lending (+) or net borrowing (-) | FA145000005 | -54.6 | -176.2 | -142.1 | -409.8 | -573.7 | -432.1 | 847.3 | 565.0 | -336.8 |
| Line 11 | Net acquisition of financial assets | FA144090005 | 2089.4 | 443.8 | 1767.9 | 1298.4 | 1128.4 | 1019.3 | 3625.6 | 4718.8 | 4250.4 |
| Line 12 | Checkable deposits and currency | FA143020005 | -71.5 | 446.5 | 298.4 | 170.9 | -52.1 | 111.1 | 963.7 | 53.4 | 807.9 |
| Line 13 | Time and savings deposits | FA143030005 | 158.4 | 64.9 | 126.6 | -52.9 | 60.9 | 198.1 | 300.5 | 263.3 | 226.2 |
| Line 14 | Other deposits (foreign deposits) | FA103091003 | 44.8 | -30.7 | 13.9 | 39.8 | 5.0 | -71.9 | 82.8 | -4.9 | 4.7 |
| Line 15 | Debt securities | FA144022005 | 9.8 | 151.2 | 48.6 | 50.6 | 13.1 | 37.1 | 93.8 | 52.9 | 126.7 |
| Line 16 | Commercial paper | FA103069100 | -7.0 | 7.1 | 27.6 | 33.5 | 2.8 | 18.2 | 55.8 | 90.0 | 150.5 |
| Line 17 | Treasury securities | FA143061105 | 16.6 | 112.6 | 16.0 | 12.7 | 9.0 | 15.2 | 27.0 | -28.1 | -16.9 |
| Line 18 | Agency- and GSE-backed securities | FA103061703 | 6.6 | 34.8 | 3.8 | 2.4 | 1.3 | 5.1 | 6.6 | -12.6 | -7.3 |
| Line 19 | Municipal securities | FA143062005 | -3.7 | -0.1 | 1.3 | 1.4 | 2.3 | 0.6 | 0.8 | 2.0 | 1.0 |
| Line 20 | Corporate bonds (held by equity REITs) | FA123063003 | -2.6 | -3.2 | -0.0 | 0.6 | -2.2 | -2.0 | 3.6 | 1.6 | -0.5 |
| Line 21 | Loans | FA144035005 | 24.6 | 28.2 | 49.8 | 53.0 | 28.7 | 122.6 | -5.2 | 89.0 | 120.0 |
| Line 22 | Security repurchase agreements | FA102051003 | -3.1 | 23.3 | 39.5 | 42.0 | 17.1 | 109.8 | -11.1 | 77.9 | 112.7 |
| Line 23 | Consumer credit | FA143066005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 24 | Mortgages | FA143065005 | 27.7 | 4.8 | 10.3 | 11.0 | 11.6 | 12.8 | 5.9 | 11.0 | 7.3 |
| Line 25 | Corporate equities | FA103064103 | -87.2 | -324.2 | -172.3 | -152.6 | -168.7 | -181.9 | -186.1 | -172.3 | -172.3 |
| Line 26 | U.S. direct investment abroad: equity | FA103092105 | 167.0 | 247.0 | 325.5 | 398.6 | 36.6 | 352.5 | 514.1 | 458.2 | 505.5 |
| Line 27 | Equity in GSEs | FA143092405 | 3.4 | 1.0 | 0.7 | -0.9 | 0.8 | 0.8 | 2.0 | -0.2 | 2.9 |
| Line 28 | Money market fund shares | FA143034005 | 138.3 | 95.1 | 146.2 | 133.9 | 63.7 | 159.9 | 227.4 | 76.3 | 94.7 |
| Line 29 | Mutual fund shares | FA103064203 | -39.3 | 42.8 | -24.4 | -24.4 | -24.4 | -24.4 | -24.4 | -24.4 | -24.4 |
| Line 30 | Trade receivables | FA143070005 | 433.4 | 396.1 | 446.1 | 652.4 | 368.3 | 338.1 | 425.7 | 1114.0 | 1236.5 |
| Line 31 | U.S. direct investment abroad: intercompany debt | FA103092305 | 44.1 | -10.5 | -17.2 | 43.9 | -178.4 | -28.6 | 94.4 | -16.6 | 18.2 |
| Line 32 | Miscellaneous assets | FA143090005 | 1263.6 | -663.5 | 525.9 | -14.1 | 974.9 | 5.8 | 1136.9 | 2830.1 | 1303.7 |
| Line 33 | Net increase in liabilities and equity | FA144194005 | 2144.0 | 620.0 | 1910.0 | 1708.2 | 1702.1 | 1451.4 | 2778.3 | 4153.8 | 4587.2 |
| Line 34 | Net increase in liabilities | FA144190005 | 2190.3 | 708.4 | 1930.7 | 1733.4 | 1691.0 | 1475.9 | 2822.6 | 3543.6 | 3713.4 |
| Line 35 | Debt securities | FA104122005 | 246.8 | 284.6 | 299.9 | 636.5 | 151.4 | 307.7 | 104.0 | 646.0 | 202.8 |
| Line 36 | Commercial paper | FA103169100 | 20.4 | -21.6 | 14.6 | 110.8 | 155.6 | -105.2 | -102.9 | 144.1 | -129.6 |
| Line 37 | Municipal securities | FA103162000 | -1.3 | 13.1 | 15.3 | 33.3 | 43.4 | -4.9 | -10.6 | 18.3 | 5.4 |
| Line 38 | Corporate bonds | FA103163005 | 227.8 | 293.2 | 270.0 | 492.4 | -47.5 | 417.7 | 217.5 | 483.7 | 327.0 |
| Line 39 | Loans | FA144135005 | 261.0 | 536.6 | 715.0 | 600.7 | 945.2 | 722.4 | 591.6 | 992.0 | 880.5 |
| Line 40 | Depository institution loans n.e.c. | FA143168005 | -22.2 | 44.2 | 119.5 | 103.5 | 293.7 | -17.4 | 98.3 | 487.6 | 277.0 |
| Line 41 | Private credit loans | FA143167205 | 110.1 | 185.9 | 212.1 | 199.4 | 211.7 | 228.0 | 209.1 | 129.2 | 87.1 |
| Line 42 | Mortgages | FA143165005 | 208.8 | 192.5 | 268.5 | 188.0 | 239.1 | 333.8 | 313.2 | 256.9 | 225.5 |
| Line 43 | Other loans and advances | FA143169005 | -35.7 | 114.0 | 114.8 | 109.8 | 200.6 | 178.0 | -29.0 | 118.2 | 291.0 |
| Line 44 | Trade payables | FA143170005 | 250.1 | 70.0 | 431.3 | 700.6 | 323.0 | 350.1 | 351.3 | 978.3 | 728.8 |
| Line 45 | Taxes payable | FA143178005 | -8.8 | 25.2 | -52.8 | 378.2 | -439.7 | -120.3 | -29.5 | 35.9 | 68.9 |
| Line 46 | Foreign direct investment: intercompany debt | FA143192305 | -28.4 | 10.0 | -43.2 | -42.2 | -33.1 | -61.3 | -36.3 | 27.5 | 16.7 |
| Line 47 | Miscellaneous liabilities | FA143190005 | 1469.6 | -218.1 | 580.6 | -540.5 | 744.3 | 277.3 | 1841.4 | 863.9 | 1815.6 |
| Line 48 | Net equity issues | FA143181105 | -46.4 | -88.4 | -20.7 | -25.2 | 11.2 | -24.5 | -44.3 | 610.2 | 873.8 |
| Line 49 | Corporate equities | FA103164105 | -602.9 | -397.0 | -348.2 | -324.2 | -372.7 | -431.5 | -264.4 | 205.1 | 612.8 |
| Line 50 | Foreign direct investment: equity | FA143192105 | 291.5 | 233.6 | 288.3 | 201.3 | 320.1 | 379.5 | 252.3 | 289.2 | 257.5 |
| Line 51 | Equity in noncorporate business | FA112090205 | 264.9 | 75.0 | 39.2 | 97.6 | 63.7 | 27.5 | -32.2 | 115.9 | 3.4 |
| Line 52 | Discrepancy | FA107005005 | -44.5 | 46.3 | 153.3 | 204.3 | 549.1 | 531.4 | -671.7 | 245.2 | 707.6 |
Note:
- Sum of nonfinancial corporate business and nonfinancial noncorporate business.
Last Update: September 11, 2026