Financial Accounts of the United States - Z.1
S11.2.i.q Nonfinancial noncorporate business 🕮 PDF
| Line | Description | Series | 2024:Q2 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA116902505 | 4960.0 | 5026.2 | 5076.6 | 5148.3 | 5186.5 | 5252.6 | 5311.3 | 5357.7 |
| Line 2 | Less: Consumption of fixed capital | FA116300001 | 492.8 | 498.8 | 504.0 | 507.7 | 512.9 | 523.7 | 531.7 | 537.0 |
| Line 3 | Equals: Net value added | FA116902605 | 4467.3 | 4527.4 | 4572.7 | 4640.6 | 4673.6 | 4728.9 | 4779.5 | 4820.8 |
| Line 4 | Compensation of employees (paid) | FA116025001 | 1587.1 | 1665.8 | 1646.6 | 1639.0 | 1650.0 | 1685.5 | 1688.7 | 1699.4 |
| Line 5 | Taxes on production and imports less subsidies | FA116240101 | 331.8 | 336.7 | 340.0 | 335.5 | 387.3 | 406.5 | 442.7 | 415.5 |
| Line 6 | Operating surplus, net | FA116402105 | 2548.3 | 2524.9 | 2586.0 | 2666.0 | 2636.3 | 2636.9 | 2648.2 | 2705.9 |
| Line 7 | Net national income/Balance of primary incomes, net | FA116140001 | 33.2 | 33.3 | 30.7 | 31.7 | 31.9 | 37.4 | 33.0 | 32.9 |
| Line 8 | Operating surplus, net | FA116402105 | 2548.3 | 2524.9 | 2586.0 | 2666.0 | 2636.3 | 2636.9 | 2648.2 | 2705.9 |
| Line 9 | Property income received, net | FA116150175 | -2515.2 | -2491.6 | -2555.3 | -2634.3 | -2604.5 | -2599.5 | -2615.2 | -2673.0 |
| Line 10 | Net national income/Balance of primary incomes, net | FA116140001 | 33.2 | 33.3 | 30.7 | 31.7 | 31.9 | 37.4 | 33.0 | 32.9 |
| Line 11 | Less: Other current transfers (paid) | FA116403001 | 33.2 | 33.3 | 30.7 | 31.7 | 31.9 | 37.4 | 33.0 | 32.9 |
| Line 12 | Equals: Disposable income, net | FA116012005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 13 | Equals: Net saving | FA116012005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Capital account | ||||||||||
| Line 14 | Net saving less capital transfers | FA116006305 | 0.0 | 14.8 | 20.8 | 30.5 | 0.0 | 0.0 | 0.3 | 99.0 |
| Line 15 | Net saving | FA116012005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 16 | Less: Capital transfers paid (net) | FA115440005 | 0.0 | -14.8 | -20.8 | -30.5 | 0.0 | 0.0 | -0.3 | -99.0 |
| Line 17 | Capital formation, net | FA115050985 | 143.8 | 136.0 | 122.1 | 158.9 | 115.5 | 100.5 | 92.9 | 97.8 |
| Line 18 | Gross fixed capital formation | FA115019085 | 620.5 | 620.4 | 619.6 | 631.5 | 629.6 | 627.2 | 622.7 | 638.4 |
| Line 19 | Nonresidential | FA115013085 | 424.8 | 427.1 | 424.3 | 431.4 | 432.5 | 441.6 | 443.7 | 452.8 |
| Line 20 | Residential | FA115012005 | 195.7 | 193.3 | 195.3 | 200.0 | 197.1 | 185.6 | 179.0 | 185.6 |
| Line 21 | Less: Consumption of fixed capital | FA116300001 | 492.8 | 498.8 | 504.0 | 507.7 | 512.9 | 523.7 | 531.7 | 537.0 |
| Line 22 | Change in private inventories | FA115020005 | 16.1 | 14.4 | 6.4 | 35.2 | -1.2 | -3.0 | 1.9 | -3.7 |
| Line 23 | Net lending (+) or borrowing (-), capital account (lines 14-17) | FA115000905 | -143.8 | -121.2 | -101.3 | -128.4 | -115.5 | -100.5 | -92.5 | 1.2 |
| Financial account | ||||||||||
| Line 24 | Net lending (+) or borrowing (-) (line 23) | FA115000905 | -143.8 | -121.2 | -101.3 | -128.4 | -115.5 | -100.5 | -92.5 | 1.2 |
| Line 25 | Net acquisition of financial assets | FA114090005 | 378.7 | 327.3 | 569.0 | 483.8 | 637.1 | 614.3 | 846.3 | 928.1 |
| Line 26 | Currency and deposits | FA114000005 | 80.0 | 72.7 | 116.6 | 101.6 | 131.6 | 127.6 | 174.7 | 170.5 |
| Line 27 | Currency and transferable deposits | FA113020005 | 23.5 | 21.7 | 32.3 | 25.1 | 32.3 | 31.3 | 42.7 | 41.5 |
| Line 28 | Time and savings deposits | FA113030003 | 56.5 | 51.0 | 84.3 | 76.5 | 99.3 | 96.2 | 131.9 | 129.0 |
| Line 29 | Debt securities | FA114022005 | 4.3 | -12.1 | 18.1 | -3.7 | 5.3 | 2.0 | 7.5 | 9.8 |
| Line 30 | Treasury securities | FA113061003 | 4.1 | -11.9 | 17.6 | -4.1 | 4.9 | 2.1 | 7.3 | 9.3 |
| Line 31 | Municipal securities | FA113062003 | 0.2 | -0.2 | 0.5 | 0.4 | 0.4 | -0.1 | 0.2 | 0.5 |
| Line 32 | Loans | FA114035005 | 2.3 | 2.1 | 3.4 | 3.1 | 4.0 | 3.9 | 5.4 | 5.2 |
| Line 33 | Short-term (consumer credit) | FA113066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 34 | Long-term (mortgages) | FA113065005 | 2.3 | 2.1 | 3.4 | 3.1 | 4.0 | 3.9 | 5.4 | 5.2 |
| Line 35 | Equity and investment fund shares | FA113081005 | 7.8 | 4.4 | 10.1 | 5.9 | 10.5 | 10.1 | 14.2 | 11.6 |
| Line 36 | Money market fund shares | FA113034003 | 5.4 | 4.8 | 8.0 | 7.3 | 9.4 | 9.1 | 12.5 | 12.2 |
| Line 37 | Equity in government-sponsored enterprises(2) | FA113092405 | 2.4 | -0.4 | 2.1 | -1.3 | 1.1 | 1.0 | 1.7 | -0.7 |
| Line 38 | Insurance, pension and standardized guarantee schemes(3) | FA113076005 | 22.9 | 25.9 | 8.1 | 13.0 | 9.7 | 9.7 | 2.5 | -0.4 |
| Line 39 | Other accounts receivable | FA113096005 | 261.5 | 234.3 | 412.7 | 363.9 | 476.0 | 461.0 | 642.1 | 731.4 |
| Line 40 | Trade receivables | FA113070003 | 49.2 | 44.4 | 73.4 | 66.6 | 86.4 | 83.7 | 114.8 | 112.2 |
| Line 41 | PPP subsidies receivable | FA113072003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 42 | Tariff refund receivable | FA113090603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 99.0 |
| Line 43 | Other (miscellaneous assets) | FA113093005 | 212.4 | 189.9 | 339.3 | 297.3 | 389.6 | 377.3 | 527.3 | 520.2 |
| Line 44 | Net incurrence of liabilities | FA114194005 | 525.2 | 455.4 | 662.0 | 599.4 | 741.4 | 700.9 | 929.9 | 917.0 |
| Line 45 | Loans | FA114135005 | 181.3 | 170.1 | 253.4 | 187.8 | 239.5 | 254.4 | 396.9 | 308.2 |
| Line 46 | Short-term | FA114141005 | 57.6 | 3.7 | 75.2 | 38.3 | 67.7 | 4.4 | 123.3 | 141.8 |
| Line 47 | Depository institution loans n.e.c. | FA113168005 | 16.8 | -31.8 | 39.6 | 39.5 | 56.8 | -12.4 | 52.9 | 134.8 |
| Line 48 | Other loans and advances | FA113169005 | 40.8 | 35.5 | 35.6 | -1.2 | 11.0 | 16.7 | 70.4 | 7.0 |
| Line 49 | Long-term (mortgages) | FA113165005 | 123.6 | 166.4 | 178.3 | 149.5 | 171.8 | 250.1 | 273.6 | 166.4 |
| Line 50 | Equity and investment fund shares | FA113181005 | 108.0 | 80.7 | 63.3 | 102.7 | 81.4 | 56.5 | 1.9 | 86.6 |
| Line 51 | Equity in noncorporate business | FA112090205 | 121.2 | 79.6 | 63.4 | 103.5 | 83.2 | 58.4 | 3.3 | 86.8 |
| Line 52 | Foreign direct investment in the U.S.: equity | FA115114103 | -13.2 | 1.1 | -0.1 | -0.8 | -1.8 | -1.8 | -1.4 | -0.2 |
| Line 53 | Other accounts payable | FA113196005 | 236.0 | 204.5 | 345.2 | 308.9 | 420.5 | 390.0 | 531.1 | 522.2 |
| Line 54 | Trade payables | FA113170005 | 20.5 | 9.9 | 23.1 | 15.1 | 39.6 | 21.3 | 25.6 | 28.8 |
| Line 55 | Taxes payable | FA113178003 | 6.9 | 6.2 | 10.3 | 9.3 | 12.1 | 11.7 | 16.0 | 15.7 |
| Line 56 | Foreign direct investment in the U.S.: debt | FA115114305 | -0.6 | -0.3 | -0.5 | 1.0 | 0.9 | 0.6 | 0.9 | 0.3 |
| Line 57 | Other (miscellaneous liabilities) | FA113193003 | 209.2 | 188.8 | 312.3 | 283.4 | 367.8 | 356.3 | 488.5 | 477.5 |
| Addendum: | ||||||||||
| Line 58 | Net lending (+) or borrowing (-), financial account (lines 25-43) | FA115000005 | -146.5 | -128.1 | -93.0 | -115.5 | -104.2 | -86.6 | -83.6 | 11.1 |
| Other changes in volume account | ||||||||||
| Line 59 | Total other volume changes | FV118090105 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 60 | Disaster losses | FV112010005 | 0.0 | 0.0 | -6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 61 | Other volume changes | FV118090085 | 0.0 | 0.0 | 6.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Revaluation account | ||||||||||
| Line 62 | Nonfinancial assets | FR112010005 | 145.0 | 43.7 | 89.3 | -32.3 | -1.6 | 283.0 | -10.8 | 260.0 |
| Line 63 | Real estate | FR115035005 | 134.3 | 31.2 | 80.0 | -58.5 | 2.8 | 226.1 | 23.3 | 178.0 |
| Line 64 | Residential | FR115035023 | 85.8 | 59.0 | 29.5 | 30.7 | 55.3 | -37.8 | 17.3 | 43.9 |
| Line 65 | Nonresidential | FR115035035 | 48.6 | -27.9 | 50.5 | -89.2 | -52.5 | 263.9 | 6.0 | 134.1 |
| Line 66 | Equipment | FR115015205 | 7.7 | 16.4 | -3.0 | 19.1 | 0.8 | 14.6 | -7.4 | 37.1 |
| Line 67 | Residential | FR115012265 | -2.2 | -0.4 | -1.4 | -2.0 | 2.8 | 0.4 | 0.1 | -0.7 |
| Line 68 | Nonresidential | FR115013265 | 9.9 | 16.7 | -1.6 | 21.1 | -1.9 | 14.2 | -7.5 | 37.8 |
| Line 69 | Intellectual property products | FR115013765 | 1.9 | 2.4 | 4.2 | -4.2 | -4.2 | -0.7 | 0.3 | -1.0 |
| Line 70 | Inventories | FR115020005 | 1.1 | -6.2 | 8.1 | 11.3 | -0.9 | 43.0 | -26.9 | 45.9 |
| Line 71 | Financial assets (debt securities) | FR114022005 | -0.2 | 3.8 | -3.3 | 2.0 | 0.1 | 0.9 | 0.0 | -0.6 |
| Line 72 | Liabilities | FR114194005 | 144.8 | 51.2 | 91.2 | -22.6 | -1.4 | 283.9 | -10.7 | 284.2 |
| Line 73 | Equity in noncorporate business | FR112090205 | 145.8 | 46.0 | 90.5 | -21.7 | -18.7 | 268.2 | -19.7 | 276.4 |
| Line 74 | Direct investment in the U.S.: equity | FR115114103 | -1.1 | 5.3 | 0.7 | -1.0 | 17.4 | 15.8 | 9.0 | 7.7 |
| Line 75 | Direct investment in the U.S.: debt | FR115114305 | 0.1 | -0.1 | 0.0 | 0.1 | -0.1 | -0.2 | 0.0 | 0.0 |
| Line 76 | Changes in net worth due to nominal holding gains/losses | FR112090095 | 0.0 | -3.7 | -5.2 | -7.6 | 0.0 | 0.0 | -0.1 | -24.8 |
| Changes in balance sheet account | ||||||||||
| Line 77 | Change in net worth(4) | FC112090095 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Balance sheet account (end of period) | ||||||||||
| Line 78 | Total assets | FL112000005 | 28390.1 | 28576.7 | 28837.6 | 28901.4 | 29113.2 | 29595.3 | 29829.7 | 30276.9 |
| Line 79 | Nonfinancial assets | LM112010005 | 18792.5 | 18893.5 | 19015.5 | 18956.3 | 19008.7 | 19336.3 | 19359.1 | 19574.8 |
| Line 80 | Real estate | LM115035005 | 16851.1 | 16934.5 | 17029.7 | 16956.1 | 17002.2 | 17271.3 | 17307.6 | 17463.1 |
| Line 81 | Residential(5) | LM115035023 | 10202.8 | 10288.6 | 10315.8 | 10326.5 | 10408.1 | 10393.4 | 10408.4 | 10427.7 |
| Line 82 | Nonresidential | LM115035035 | 6648.4 | 6645.9 | 6713.9 | 6629.6 | 6594.1 | 6877.8 | 6899.2 | 7035.4 |
| Line 83 | Equipment | LM115015205 | 1146.9 | 1157.4 | 1161.7 | 1152.7 | 1156.4 | 1164.7 | 1167.4 | 1173.3 |
| Line 84 | Residential | LM115012265 | 89.5 | 90.2 | 89.9 | 88.9 | 92.7 | 94.1 | 95.1 | 95.4 |
| Line 85 | Nonresidential | LM115013265 | 1057.5 | 1067.1 | 1071.8 | 1063.7 | 1063.6 | 1070.6 | 1072.2 | 1077.9 |
| Line 86 | Intellectual property products | LM115013765 | 462.5 | 472.3 | 484.9 | 488.3 | 492.0 | 500.0 | 510.3 | 519.5 |
| Line 87 | Inventories | LM115020005 | 332.0 | 329.4 | 339.1 | 359.2 | 358.1 | 400.3 | 373.9 | 418.9 |
| Line 88 | Financial assets | FL114090005 | 9597.6 | 9683.2 | 9822.1 | 9945.1 | 10104.6 | 10259.0 | 10470.7 | 10702.1 |
| Line 89 | Currency and deposits | FL114000005 | 1989.6 | 2007.7 | 2036.9 | 2062.3 | 2095.2 | 2127.1 | 2170.8 | 2213.4 |
| Line 90 | Currency and transferable deposits | FL113020005 | 504.9 | 510.3 | 518.3 | 524.6 | 532.7 | 540.5 | 551.2 | 561.6 |
| Line 91 | Time and savings deposits | FL113030003 | 1484.7 | 1497.5 | 1518.6 | 1537.7 | 1562.5 | 1586.6 | 1619.6 | 1651.8 |
| Line 92 | Debt securities | LM114022005 | 86.7 | 87.4 | 88.7 | 89.8 | 91.2 | 92.6 | 94.6 | 96.4 |
| Line 93 | Treasury securities | LM113061003 | 82.9 | 83.6 | 84.8 | 85.8 | 87.2 | 88.6 | 90.4 | 92.2 |
| Line 94 | Municipal securities | LM113062003 | 3.8 | 3.8 | 3.9 | 4.0 | 4.0 | 4.1 | 4.2 | 4.2 |
| Line 95 | Loans | FL114035005 | 60.2 | 60.7 | 61.6 | 62.4 | 63.4 | 64.3 | 65.7 | 67.0 |
| Line 96 | Short-term (consumer credit) | FL113066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 97 | Long-term (mortgages) | FL113065005 | 60.2 | 60.7 | 61.6 | 62.4 | 63.4 | 64.3 | 65.7 | 67.0 |
| Line 98 | Equity and investment fund shares | FL113081005 | 159.6 | 160.7 | 163.2 | 164.7 | 167.3 | 169.8 | 173.4 | 176.3 |
| Line 99 | Money market fund shares | FL113034003 | 140.8 | 142.0 | 144.0 | 145.9 | 148.2 | 150.5 | 153.6 | 156.7 |
| Line 100 | Equity in government-sponsored enterprises(2) | FL113092405 | 18.7 | 18.6 | 19.1 | 18.8 | 19.1 | 19.3 | 19.8 | 19.6 |
| Line 101 | Insurance, pension and standardized guarantee schemes(3) | FL113076005 | 183.1 | 189.5 | 191.6 | 194.8 | 197.2 | 199.6 | 200.3 | 200.2 |
| Line 102 | Other accounts receivable | FL113096005 | 7118.5 | 7177.1 | 7280.2 | 7371.2 | 7490.2 | 7605.5 | 7766.0 | 7948.9 |
| Line 103 | Trade receivables | FL113070003 | 1292.0 | 1303.1 | 1321.4 | 1338.1 | 1359.7 | 1380.6 | 1409.3 | 1437.4 |
| Line 104 | PPP subsidies receivable | FL113072003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 105 | Tariff refund receivable | FL113090603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 24.8 |
| Line 106 | Other (miscellaneous assets) | FL113093005 | 5826.5 | 5874.0 | 5958.8 | 6033.1 | 6130.6 | 6224.9 | 6356.7 | 6486.7 |
| Line 107 | Total liabilities and net worth | FL112100005 | 28390.1 | 28576.7 | 28837.6 | 28901.4 | 29113.2 | 29595.3 | 29829.7 | 30276.9 |
| Line 108 | Liabilities | FL114194005 | 28390.1 | 28576.7 | 28837.6 | 28901.4 | 29113.2 | 29595.3 | 29829.7 | 30276.9 |
| Line 109 | Loans | FL114135005 | 7668.5 | 7708.4 | 7773.5 | 7819.3 | 7881.3 | 7941.9 | 8057.0 | 8133.0 |
| Line 110 | Short-term | FL114141005 | 2212.7 | 2210.9 | 2231.6 | 2240.1 | 2259.2 | 2257.4 | 2304.1 | 2338.7 |
| Line 111 | Depository institution loans n.e.c. | FL113168005 | 1732.0 | 1724.2 | 1732.9 | 1740.0 | 1758.3 | 1755.2 | 1767.1 | 1798.3 |
| Line 112 | Other loans and advances | FL113169005 | 480.7 | 486.8 | 498.8 | 500.2 | 500.8 | 502.2 | 537.1 | 540.4 |
| Line 113 | Long-term (mortgages) | FL113165005 | 5455.9 | 5497.4 | 5541.9 | 5579.2 | 5622.1 | 5684.5 | 5752.9 | 5794.3 |
| Line 114 | Equity and investment fund shares | LM113181005 | 15824.5 | 15917.3 | 16029.5 | 15969.4 | 16015.4 | 16336.3 | 16325.7 | 16565.7 |
| Line 115 | Equity in noncorporate business | LM112090205 | 15709.8 | 15797.0 | 15908.6 | 15845.1 | 15869.5 | 16170.4 | 16146.6 | 16378.9 |
| Line 116 | Foreign direct investment in the U.S.: equity | LM115114103 | 114.7 | 120.2 | 120.9 | 124.3 | 145.9 | 165.9 | 179.1 | 186.8 |
| Line 117 | Other accounts payable | FL113196005 | 4897.1 | 4951.1 | 5034.6 | 5112.7 | 5216.6 | 5317.1 | 5447.1 | 5578.2 |
| Line 118 | Trade payables | FL113170005 | 836.4 | 841.8 | 844.8 | 849.3 | 858.2 | 866.7 | 870.3 | 878.0 |
| Line 119 | Taxes payable | FL113178003 | 240.7 | 242.2 | 244.8 | 247.1 | 250.1 | 253.0 | 257.1 | 261.0 |
| Line 120 | Foreign direct investment in the U.S.: debt | FL115114305 | 3.7 | 3.6 | 3.5 | 3.9 | 4.0 | 3.9 | 4.2 | 4.3 |
| Line 121 | Other (miscellaneous liabilities) | FL113193003 | 3816.3 | 3863.5 | 3941.5 | 4012.4 | 4104.4 | 4193.4 | 4315.6 | 4435.0 |
| Line 122 | Net worth | FL112090095 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Notes:
- 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.
- 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.
- Net equity in reserves of property-casualty insurance companies.
- The change in net worth is equal to the sum of the non-seasonally adjusted quarterly rate measure of net lending or borrowing from the capital account (not presented), total other volume changes, and changes in net worth due to nominal holding gains or losses.
- Farm houses are included in the household sector.
Last Update: June 11, 2026