Financial Accounts of the United States - Z.1
S11.1.b Nonfinancial corporate business 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Assets | FL102000005 | 61135.4 | 62983.6 | 68295.2 | 62983.6 | 63252.8 | 64694.0 | 66772.4 | 68295.2 | 70126.3 |
| Line 2 | Nonfinancial assets | LM102010005 | 29698.7 | 30290.3 | 31621.1 | 30290.3 | 30190.9 | 30175.1 | 31402.7 | 31621.1 | 32392.1 |
| Line 3 | Real estate (market value) | LM105035005 | 15715.2 | 15694.2 | 16133.1 | 15694.2 | 15388.0 | 15207.6 | 16141.9 | 16133.1 | 16558.7 |
| Line 4 | Equipment (replacement cost) | LM105015205 | 6539.8 | 6779.3 | 7211.5 | 6779.3 | 6836.4 | 6945.0 | 7097.5 | 7211.5 | 7348.5 |
| Line 5 | Intellectual property products (replacement cost) | LM105013765 | 3947.8 | 4242.6 | 4583.9 | 4242.6 | 4307.5 | 4371.9 | 4473.1 | 4583.9 | 4673.7 |
| Line 6 | Inventories (replacement cost) | LM105020015 | 3495.9 | 3574.2 | 3692.6 | 3574.2 | 3659.0 | 3650.5 | 3690.3 | 3692.6 | 3811.2 |
| Line 7 | Financial assets | FL104090005 | 31436.7 | 32693.3 | 36674.2 | 32693.3 | 33061.9 | 34519.0 | 35369.7 | 36674.2 | 37734.2 |
| Line 8 | Checkable deposits and currency | FL103020005 | 1917.2 | 2217.8 | 2484.7 | 2217.8 | 2195.5 | 2223.9 | 2274.3 | 2484.7 | 2433.9 |
| Line 9 | Time and savings deposits | FL103030003 | 434.0 | 413.3 | 424.1 | 413.3 | 381.0 | 363.3 | 387.6 | 424.1 | 452.4 |
| Line 10 | Other deposits (foreign deposits) | FL103091003 | 245.8 | 205.1 | 213.9 | 205.1 | 214.6 | 210.9 | 195.1 | 213.9 | 211.4 |
| Line 11 | Debt securities | LM104022005 | 400.1 | 389.3 | 434.8 | 389.3 | 400.0 | 396.3 | 410.9 | 434.8 | 432.1 |
| Line 12 | Commercial paper | FL103069100 | 209.8 | 190.3 | 207.3 | 190.3 | 191.2 | 184.8 | 191.8 | 207.3 | 217.0 |
| Line 13 | Treasury securities | LM103061103 | 111.4 | 120.2 | 141.8 | 120.2 | 128.3 | 130.5 | 135.8 | 141.8 | 132.4 |
| Line 14 | Agency- and GSE-backed securities | LM103061703 | 37.1 | 40.1 | 46.0 | 40.1 | 41.5 | 42.2 | 44.0 | 46.0 | 42.9 |
| Line 15 | Municipal securities | LM103062003 | 24.9 | 25.3 | 25.8 | 25.3 | 25.3 | 25.5 | 26.3 | 25.8 | 25.7 |
| Line 16 | Corporate bonds (held by equity REITs) | LM123063003 | 16.8 | 13.4 | 13.8 | 13.4 | 13.7 | 13.3 | 13.0 | 13.8 | 14.1 |
| Line 17 | Loans | FL104035005 | 168.2 | 190.8 | 218.7 | 190.8 | 199.5 | 197.4 | 222.5 | 218.7 | 230.3 |
| Line 18 | Security repurchase agreements | FL102051003 | 27.0 | 45.7 | 75.2 | 45.7 | 54.3 | 52.3 | 77.2 | 75.2 | 87.7 |
| 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 | 145.1 | 143.5 | 145.1 | 145.2 | 145.1 | 145.4 | 143.5 | 142.6 |
| Line 21 | Corporate equities | LM103064103 | 2913.8 | 3260.5 | 3585.9 | 3260.5 | 3070.9 | 3347.1 | 3555.7 | 3585.9 | 3370.4 |
| Line 22 | U.S. direct investment abroad: equity | LM103092105 | 7627.6 | 8105.3 | 10353.9 | 8105.3 | 8460.7 | 9283.8 | 9838.1 | 10353.9 | 10718.1 |
| Line 23 | Equity in GSEs | FL103092405 | 1.9 | 2.1 | 2.2 | 2.1 | 2.2 | 2.1 | 2.1 | 2.2 | 2.3 |
| Line 24 | Money market fund shares | FL103034000 | 873.7 | 962.2 | 1098.1 | 962.2 | 982.1 | 991.4 | 1035.9 | 1098.1 | 1102.1 |
| Line 25 | Mutual fund shares | LM103064203 | 325.2 | 405.4 | 432.2 | 405.4 | 392.2 | 416.6 | 432.1 | 432.2 | 416.4 |
| Line 26 | Trade receivables | FL103070005 | 5244.7 | 5386.8 | 5800.8 | 5386.8 | 5550.9 | 5659.5 | 5724.7 | 5800.8 | 6044.5 |
| Line 27 | U.S. direct investment abroad: intercompany debt | LM103092305 | -56.4 | -62.5 | -72.7 | -62.5 | -36.7 | -83.4 | -102.6 | -72.7 | -54.6 |
| Line 28 | Miscellaneous assets | FL103090005 | 11340.7 | 11217.3 | 11697.8 | 11217.3 | 11249.0 | 11510.1 | 11393.3 | 11697.8 | 12374.9 |
| Line 29 | Total liabilities and equity | FL104194005 | 92801.8 | 106619.7 | 119157.9 | 106619.7 | 102919.5 | 110385.7 | 116678.5 | 119157.9 | 117876.2 |
| Line 30 | Liabilities | FL104190005 | 29646.0 | 29929.5 | 31173.3 | 29929.5 | 30230.5 | 30430.1 | 30606.0 | 31173.3 | 31907.4 |
| Line 31 | Debt securities | FL104122005 | 8254.2 | 8518.1 | 8788.0 | 8518.1 | 8684.5 | 8682.2 | 8749.8 | 8788.0 | 8982.9 |
| Line 32 | Commercial paper | FL103169100 | 218.0 | 196.3 | 217.2 | 196.3 | 235.9 | 253.9 | 229.9 | 217.2 | 291.3 |
| Line 33 | Municipal securities(1) | FL103162000 | 624.2 | 637.2 | 652.6 | 637.2 | 643.6 | 653.6 | 649.4 | 652.6 | 655.0 |
| Line 34 | Corporate bonds | FL103163005 | 7412.1 | 7684.6 | 7918.2 | 7684.6 | 7805.0 | 7774.7 | 7870.5 | 7918.2 | 8036.6 |
| Line 35 | Loans | FL104135005 | 5102.9 | 5161.2 | 5353.5 | 5161.2 | 5140.4 | 5220.4 | 5287.8 | 5353.5 | 5510.8 |
| Line 36 | Depository institution loans n.e.c. | FL103168005 | 1223.5 | 1135.8 | 1102.5 | 1135.8 | 1061.7 | 1075.6 | 1074.3 | 1102.5 | 1184.8 |
| Line 37 | Other loans and advances | FL103169005 | 2528.1 | 2638.5 | 2796.9 | 2638.5 | 2686.4 | 2733.7 | 2779.2 | 2796.9 | 2850.4 |
| Line 38 | Mortgages | FL103165005 | 1351.2 | 1386.9 | 1454.2 | 1386.9 | 1392.3 | 1411.1 | 1434.3 | 1454.2 | 1475.6 |
| Line 39 | Trade payables | FL103170005 | 3852.2 | 3934.0 | 4341.8 | 3934.0 | 4063.5 | 4158.4 | 4268.3 | 4341.8 | 4523.2 |
| Line 40 | Taxes payable | FL103178005 | 249.7 | 241.9 | 184.2 | 241.9 | 341.7 | 223.9 | 196.7 | 184.2 | 193.6 |
| Line 41 | Foreign direct investment: intercompany debt | LM103192305 | 315.1 | 353.7 | 315.9 | 353.7 | 363.5 | 345.7 | 318.9 | 315.9 | 313.4 |
| Line 42 | Miscellaneous liabilities | FL103190005 | 11871.9 | 11720.5 | 12189.9 | 11720.5 | 11636.9 | 11799.5 | 11784.5 | 12189.9 | 12383.6 |
| Line 43 | Total equity (market value) | LM103181105 | 63155.7 | 76690.2 | 87984.6 | 76690.2 | 72689.0 | 79955.6 | 86072.6 | 87984.6 | 85968.8 |
| Line 44 | Corporate equities | LM103164105 | 51744.1 | 62708.8 | 71863.1 | 62708.8 | 59379.9 | 65268.9 | 70266.2 | 71863.1 | 69511.6 |
| Line 45 | Foreign direct investment: equity | LM103192105 | 11411.6 | 13981.4 | 16121.5 | 13981.4 | 13309.1 | 14686.7 | 15806.4 | 16121.5 | 16457.2 |
| Memo: | |||||||||||
| Line 46 | Net worth (assets minus liabilities) | FL102090005 | 31489.3 | 33054.2 | 37121.9 | 33054.2 | 33022.4 | 34264.0 | 36166.4 | 37121.9 | 38219.0 |
| Line 47 | Equity/net worth (percent)(2) | FL103164106 | 200.6 | 232.0 | 237.0 | 232.0 | 220.1 | 233.4 | 238.0 | 237.0 | 224.9 |
| Line 48 | Debt/equity (percent)(2) | FL104104016 | 21.1 | 17.8 | 16.1 | 17.8 | 19.0 | 17.4 | 16.3 | 16.1 | 16.9 |
| Line 49 | Debt/net worth (percent)(2) | FL104104006 | 42.4 | 41.4 | 38.1 | 41.4 | 41.9 | 40.6 | 38.8 | 38.1 | 37.9 |
| With nonfinancial assets stated at historical cost: | |||||||||||
| Line 50 | Assets (sum of lines 7 and 51) | FL102000115 | 51328.5 | 53505.5 | 58660.4 | 53505.5 | 54204.6 | 55919.6 | 57056.2 | 58660.4 | 60070.1 |
| Line 51 | Nonfinancial assets | FL102010115 | 19891.8 | 20812.2 | 21986.3 | 20812.2 | 21142.7 | 21400.6 | 21686.5 | 21986.3 | 22335.9 |
| Line 52 | Real estate | FL105035045 | 7743.5 | 8159.2 | 8568.9 | 8159.2 | 8244.6 | 8337.1 | 8480.4 | 8568.9 | 8657.9 |
| Line 53 | Equipment | FL105013213 | 5718.1 | 5955.7 | 6256.6 | 5955.7 | 6025.5 | 6100.9 | 6178.3 | 6256.6 | 6346.5 |
| Line 54 | Intellectual property products | FL105013715 | 3591.9 | 3851.5 | 4123.5 | 3851.5 | 3914.1 | 3981.9 | 4051.5 | 4123.5 | 4198.9 |
| Line 55 | Inventories | FL105020000 | 2838.3 | 2845.8 | 3037.3 | 2845.8 | 2958.5 | 2980.8 | 2976.2 | 3037.3 | 3132.6 |
| Line 56 | Net worth (historical cost) (line 50 less line 30) | FL102090115 | 21682.5 | 23576.0 | 27487.1 | 23576.0 | 23974.1 | 25489.5 | 26450.2 | 27487.1 | 28162.8 |
| Historical-cost value of structures: | |||||||||||
| Line 57 | Residential | FL105012613 | 153.3 | 162.5 | 171.1 | 162.5 | 164.8 | 166.9 | 169.0 | 171.1 | 173.1 |
| Line 58 | Nonresidential | FL105013613 | 6889.9 | 7284.0 | 7638.8 | 7284.0 | 7377.4 | 7466.7 | 7553.8 | 7638.8 | 7722.2 |
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 (line 31) and loans (line 35). Equity is total equity (line 43).
Last Update: June 11, 2026