Financial Accounts of the United States - Z.1
S11.t Nonfinancial business 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Income before taxes | FA146110005 | 4852.1 | 5164.4 | 5122.1 | 5305.2 | 5000.1 | 5030.8 | 5196.7 | 5260.9 | 5534.4 |
| Line 2 | Gross saving less net capital transfers paid | FA146000105 | 3367.1 | 3455.5 | 3710.9 | 3633.7 | 3613.9 | 3584.2 | 3751.6 | 3893.9 | 4614.7 |
| Line 3 | Gross investment | FA145090005 | 3399.7 | 3422.7 | 3503.4 | 4059.9 | 4078.8 | 2805.8 | 2885.1 | 4243.9 | 4805.1 |
| Line 4 | Capital expenditures | FA145050005 | 3465.9 | 3584.8 | 3699.9 | 3554.5 | 3818.9 | 3610.4 | 3652.8 | 3717.4 | 3824.4 |
| Line 5 | Fixed investment | FA145019005 | 3414.9 | 3534.5 | 3688.8 | 3540.6 | 3610.4 | 3660.2 | 3716.6 | 3768.2 | 3868.8 |
| Line 6 | Residential | FA145012005 | 209.1 | 211.6 | 207.5 | 212.4 | 217.1 | 214.2 | 202.7 | 196.1 | 202.7 |
| Line 7 | Nonresidential | FA145013005 | 3205.9 | 3322.9 | 3481.3 | 3328.2 | 3393.2 | 3446.0 | 3513.8 | 3572.1 | 3666.1 |
| Line 8 | Change in inventories | FA145020005 | 53.7 | 53.5 | 15.1 | 17.8 | 212.2 | -45.8 | -59.7 | -46.2 | -40.2 |
| Line 9 | Nonproduced nonfinancial assets | FA105420005 | -2.7 | -3.2 | -4.1 | -3.9 | -3.7 | -4.0 | -4.0 | -4.7 | -4.2 |
| Line 10 | Net lending (+) or net borrowing (-) | FA145000005 | -66.3 | -162.1 | -196.5 | 505.4 | 259.9 | -804.5 | -767.7 | 526.5 | 980.7 |
| Line 11 | Net acquisition of financial assets | FA144090005 | 2089.4 | 758.2 | 2041.6 | 2145.2 | 1513.1 | 1585.1 | 1189.7 | 3878.5 | 4941.8 |
| Line 12 | Checkable deposits and currency | FA143020005 | -71.5 | 327.0 | 299.8 | 459.4 | 190.7 | -38.3 | 47.5 | 999.3 | 84.1 |
| Line 13 | Time and savings deposits | FA143030005 | 158.4 | 44.9 | 111.7 | 105.9 | -52.8 | 28.4 | 193.6 | 277.7 | 242.3 |
| Line 14 | Other deposits (foreign deposits) | FA103091003 | 44.8 | -40.7 | 8.8 | -92.8 | 38.0 | -14.6 | -63.5 | 75.5 | -10.0 |
| Line 15 | Debt securities | FA144022005 | 9.8 | -3.4 | 42.5 | -93.3 | 55.4 | -24.9 | 49.6 | 89.9 | 37.2 |
| Line 16 | Commercial paper | FA103069100 | -7.0 | -19.5 | 17.0 | -136.3 | 33.1 | -40.4 | 25.4 | 49.8 | 71.3 |
| Line 17 | Treasury securities | FA143061105 | 16.6 | 15.5 | 20.0 | 37.1 | 16.7 | 12.9 | 19.3 | 31.3 | -25.7 |
| Line 18 | Agency- and GSE-backed securities | FA103061703 | 6.6 | 2.9 | 5.0 | 3.4 | 3.6 | 2.4 | 6.3 | 7.7 | -11.4 |
| Line 19 | Municipal securities | FA143062005 | -3.7 | 0.9 | 0.5 | 0.6 | 1.5 | 2.3 | 0.6 | -2.5 | 1.4 |
| Line 20 | Corporate bonds (held by equity REITs) | FA123063003 | -2.6 | -3.2 | -0.0 | 2.0 | 0.6 | -2.2 | -2.0 | 3.6 | 1.7 |
| Line 21 | Loans | FA144035005 | 24.6 | 25.2 | 32.0 | 51.7 | 37.8 | -4.4 | 104.5 | -10.0 | 51.6 |
| Line 22 | Security repurchase agreements | FA102051003 | -3.1 | 18.7 | 29.5 | 46.4 | 34.2 | -8.0 | 99.5 | -7.9 | 50.2 |
| 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 | 6.5 | 2.5 | 5.3 | 3.6 | 3.6 | 5.0 | -2.1 | 1.4 |
| Line 25 | Corporate equities | FA103064103 | -87.2 | -324.2 | -197.6 | -341.2 | -175.0 | -193.5 | -208.6 | -213.5 | -197.6 |
| Line 26 | U.S. direct investment abroad: equity | FA103092105 | 164.9 | 259.7 | 390.6 | 246.5 | 492.7 | 64.9 | 352.9 | 651.7 | 316.6 |
| Line 27 | Equity in GSEs | FA143092405 | 3.4 | 1.0 | 0.7 | 2.3 | -0.9 | 0.8 | 0.8 | 2.0 | -0.2 |
| Line 28 | Money market fund shares | FA143034005 | 138.3 | 94.7 | 145.5 | 166.3 | 132.9 | 62.7 | 159.3 | 226.9 | 72.8 |
| Line 29 | Mutual fund shares | FA103064203 | -39.3 | 42.8 | -24.4 | 42.8 | -24.4 | -24.4 | -24.4 | -24.4 | -24.4 |
| Line 30 | Trade receivables | FA143070005 | 433.4 | 199.1 | 501.9 | 703.3 | 643.7 | 618.3 | 344.8 | 400.7 | 989.2 |
| Line 31 | U.S. direct investment abroad: intercompany debt | FA103092305 | 35.7 | -11.9 | -82.4 | 197.7 | -161.6 | -197.9 | -76.8 | 106.8 | 70.6 |
| Line 32 | Miscellaneous assets | FA143090005 | 1274.1 | 144.1 | 812.6 | 696.4 | 336.5 | 1308.0 | 309.9 | 1296.0 | 3309.7 |
| Line 33 | Net increase in liabilities and equity | FA144194005 | 2155.6 | 920.3 | 2238.1 | 1639.8 | 1253.3 | 2389.7 | 1957.5 | 3352.0 | 3961.1 |
| Line 34 | Net increase in liabilities | FA144190005 | 2207.0 | 988.2 | 2186.4 | 1351.5 | 1451.1 | 2104.7 | 1895.7 | 3294.0 | 3485.3 |
| Line 35 | Debt securities | FA104122005 | 227.4 | 264.7 | 269.9 | -102.5 | 632.9 | 84.8 | 272.6 | 89.0 | 636.6 |
| Line 36 | Commercial paper | FA103169100 | 20.4 | -21.6 | 20.9 | 15.6 | 117.8 | 162.6 | -105.8 | -91.1 | 144.6 |
| Line 37 | Municipal securities | FA103162000 | -1.3 | 13.1 | 15.3 | -24.8 | 33.4 | 43.4 | -4.9 | -10.6 | 18.5 |
| Line 38 | Corporate bonds | FA103163005 | 208.3 | 273.3 | 233.7 | -93.3 | 481.8 | -121.1 | 383.3 | 190.7 | 473.5 |
| Line 39 | Loans | FA144135005 | 193.1 | 375.3 | 551.7 | 304.9 | 454.3 | 766.7 | 581.5 | 404.3 | 920.9 |
| Line 40 | Depository institution loans n.e.c. | FA143168005 | -22.5 | 44.1 | 120.8 | 55.3 | 110.0 | 290.0 | -14.1 | 97.3 | 468.6 |
| Line 41 | Mortgages | FA143165005 | 208.7 | 194.5 | 278.6 | 167.5 | 201.2 | 252.1 | 341.8 | 319.1 | 282.7 |
| Line 42 | Other loans and advances | FA143169005 | 6.8 | 136.7 | 152.4 | 82.1 | 143.1 | 224.6 | 253.8 | -12.1 | 169.6 |
| Line 43 | Trade payables | FA143170005 | 250.1 | 101.8 | 433.3 | 258.7 | 706.1 | 358.5 | 312.5 | 356.0 | 924.3 |
| Line 44 | Taxes payable | FA143178005 | -8.8 | 0.2 | -45.4 | 51.7 | 361.5 | -410.4 | -108.4 | -24.4 | 7.2 |
| Line 45 | Foreign direct investment: intercompany debt | FA143192305 | -28.1 | 23.4 | -24.2 | -35.5 | -7.5 | -15.3 | -49.5 | -24.6 | -9.8 |
| Line 46 | Miscellaneous liabilities | FA143190005 | 1573.4 | 222.8 | 1001.2 | 874.2 | -696.3 | 1320.3 | 886.9 | 2493.7 | 1006.2 |
| Line 47 | Net equity issues | FA143181105 | -51.4 | -67.9 | 51.7 | 288.3 | -197.9 | 285.0 | 61.8 | 58.0 | 475.8 |
| Line 48 | Corporate equities | FA103164105 | -611.0 | -398.0 | -304.1 | -93.1 | -496.6 | -123.1 | -381.0 | -215.7 | 124.4 |
| Line 49 | Foreign direct investment: equity | FA143192105 | 295.8 | 232.2 | 293.7 | 318.0 | 195.2 | 324.9 | 384.4 | 270.4 | 264.6 |
| Line 50 | Equity in noncorporate business | FA112090205 | 263.8 | 97.9 | 62.1 | 63.4 | 103.5 | 83.2 | 58.4 | 3.3 | 86.8 |
| Line 51 | Discrepancy | FA107005005 | -32.6 | 32.8 | 207.5 | -426.2 | -464.9 | 778.4 | 866.5 | -350.0 | -190.4 |
Note:
- Sum of nonfinancial corporate business and nonfinancial noncorporate business.
Last Update: June 11, 2026