Financial Accounts of the United States - Z.1
B.103 Balance Sheet of Nonfinancial Corporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; total assets | FL102000005 | 58477.4 | 61190.8 | 63034.4 | 62117.9 | 62801.4 | 63034.4 | 63246.6 | 64610.4 | 66073.1 | 1 |
| Nonfinancial corporate business; nonfinancial assets | LM102010005 | 29971.3 | 29754.1 | 30336.9 | 30065.9 | 30026.7 | 30336.9 | 30222.6 | 30133.4 | 30790.7 | 2 |
| Nonfinancial corporate business; real estate at market value | LM105035005 | 16525.6 | 15770.7 | 15740.8 | 15774.0 | 15578.2 | 15740.8 | 15419.7 | 15166.0 | 15527.3 | 3 |
| Nonfinancial corporate business; equipment, current cost basis | LM105015205 | 6272.4 | 6539.8 | 6779.3 | 6678.3 | 6743.5 | 6779.3 | 6836.4 | 6945.0 | 7096.7 | 4 |
| Nonfinancial corporate business; nonresidential intellectual property products, current cost basis | LM105013765 | 3655.8 | 3947.8 | 4242.6 | 4086.7 | 4163.2 | 4242.6 | 4307.5 | 4371.9 | 4474.2 | 5 |
| Nonfinancial corporate business; inventories excluding IVA, current cost basis | LM105020015 | 3517.5 | 3495.9 | 3574.2 | 3527.0 | 3541.8 | 3574.2 | 3659.0 | 3650.5 | 3692.4 | 6 |
| Nonfinancial corporate business; total financial assets | FL104090005 | 28506.2 | 31436.7 | 32697.5 | 32052.0 | 32774.7 | 32697.5 | 33024.0 | 34476.9 | 35282.5 | 7 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FL103020005 | 1996.9 | 1917.3 | 2197.3 | 1988.5 | 2136.6 | 2197.3 | 2139.5 | 2186.9 | 2283.7 | 8 |
| Nonfinancial corporate business; total time and savings deposits; asset | FL103030003 | 301.0 | 434.0 | 418.5 | 428.8 | 407.9 | 418.5 | 381.7 | 366.5 | 387.2 | 9 |
| Nonfinancial corporate business; private foreign deposits; asset | FL103091003 | 201.0 | 245.8 | 213.0 | 252.1 | 228.3 | 213.0 | 221.6 | 219.5 | 204.6 | 10 |
| Nonfinancial corporate business; money market fund shares; asset | FL103034000 | 738.0 | 873.7 | 962.2 | 878.2 | 913.3 | 962.2 | 979.7 | 986.6 | 1028.4 | 11 |
| Nonfinancial corporate business; security repurchase agreements; asset | FL102051003 | 30.1 | 27.0 | 45.9 | 28.3 | 34.1 | 45.9 | 56.1 | 54.0 | 69.0 | 12 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 382.2 | 400.1 | 408.5 | 398.0 | 421.1 | 408.5 | 418.6 | 414.3 | 430.2 | 13 |
| Nonfinancial corporate business; commercial paper; asset | FL103069100 | 216.9 | 209.8 | 206.6 | 232.3 | 221.6 | 206.6 | 214.9 | 207.0 | 215.3 | 14 |
| Nonfinancial corporate business; Treasury securities; asset | LM103061103 | 89.0 | 111.4 | 122.1 | 94.8 | 119.9 | 122.1 | 124.1 | 126.6 | 131.9 | 15 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | LM103061703 | 29.7 | 37.1 | 40.7 | 31.6 | 40.0 | 40.7 | 40.1 | 40.9 | 42.7 | 16 |
| Nonfinancial corporate business; municipal securities; asset | LM103062003 | 28.2 | 24.9 | 25.8 | 25.4 | 26.2 | 25.8 | 25.9 | 26.5 | 27.3 | 17 |
| Equity real estate investment trusts; corporate and foreign bonds; asset | LM123063003 | 18.5 | 16.8 | 13.4 | 13.9 | 13.4 | 13.4 | 13.7 | 13.3 | 13.0 | 18 |
| Nonfinancial corporate business; loans; asset | FL104023005 | 118.6 | 141.2 | 145.2 | 144.4 | 144.6 | 145.2 | 145.3 | 145.2 | 145.4 | 19 |
| Nonfinancial corporate business; total mortgages; asset | FL103065005 | 118.6 | 141.2 | 145.2 | 144.4 | 144.6 | 145.2 | 145.3 | 145.2 | 145.4 | 20 |
| Nonfinancial corporate business; consumer credit; asset | FL103066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 21 |
| Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) | LM103092305 | -84.4 | -56.4 | -62.5 | -85.2 | -111.4 | -62.5 | -36.8 | -71.3 | -87.2 | 22 |
| Nonfinancial corporate business; corporate equities; asset | LM103064103 | 2397.6 | 2913.8 | 3249.9 | 3179.1 | 3269.5 | 3249.9 | 3064.2 | 3346.4 | 3563.3 | 23 |
| Nonfinancial corporate business; U.S. direct investment abroad: equity; asset (market value) | LM103092105 | 6666.3 | 7627.6 | 8105.3 | 8177.5 | 8656.8 | 8105.3 | 8485.0 | 9324.7 | 9839.9 | 24 |
| Nonfinancial corporate business; equity in Fannie Mae and Farm Credit System; asset | FL103092405 | 1.7 | 1.9 | 2.1 | 2.0 | 2.0 | 2.1 | 2.2 | 2.1 | 2.1 | 25 |
| Nonfinancial corporate business; mutual fund shares; asset | LM103064203 | 318.9 | 325.2 | 404.5 | 370.4 | 400.4 | 404.5 | 407.8 | 450.1 | 483.7 | 26 |
| Nonfinancial corporate business; trade receivables; asset | FL103070005 | 4912.6 | 5244.7 | 5333.0 | 5235.9 | 5229.9 | 5333.0 | 5495.0 | 5602.3 | 5690.3 | 27 |
| Nonfinancial corporate business; total miscellaneous assets | FL103090005 | 10525.7 | 11340.7 | 11274.7 | 11053.9 | 11041.6 | 11274.7 | 11264.0 | 11449.7 | 11241.8 | 28 |
| Nonfinancial corporate business; total liabilities and equity | FL104194005 | 79414.7 | 92800.7 | 106757.7 | 100783.2 | 104796.2 | 106757.7 | 102480.0 | 110778.3 | 118327.8 | 29 |
| Nonfinancial corporate business; total liabilities | FL104190005 | 28201.2 | 29646.0 | 30047.7 | 29606.0 | 29719.2 | 30047.7 | 30345.0 | 30562.0 | 30725.5 | 30 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 8016.1 | 8243.9 | 8507.1 | 8429.3 | 8529.9 | 8507.1 | 8665.3 | 8656.9 | 8722.4 | 31 |
| Nonfinancial corporate business; commercial paper; liability | FL103169100 | 197.6 | 218.0 | 196.3 | 211.9 | 192.0 | 196.3 | 235.9 | 253.9 | 227.7 | 32 |
| Nonfinancial corporate business; municipal securities; liability (1) | FL103162000 | 624.5 | 623.1 | 636.2 | 635.0 | 637.3 | 636.2 | 642.6 | 652.5 | 648.3 | 33 |
| Nonfinancial corporate business; corporate bonds; liability | FL103163005 | 7194.0 | 7402.8 | 7674.6 | 7582.4 | 7700.5 | 7674.6 | 7786.8 | 7750.5 | 7846.4 | 34 |
| Nonfinancial corporate business; loans; liability | FL104123005 | 5138.9 | 5141.5 | 5203.6 | 5250.7 | 5278.6 | 5203.6 | 5186.6 | 5269.5 | 5337.3 | 35 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FL103168005 | 1257.3 | 1243.9 | 1156.9 | 1272.2 | 1256.6 | 1156.9 | 1083.4 | 1099.4 | 1106.5 | 36 |
| Nonfinancial corporate business; other loans and advances; liability | FL103169005 | 2564.6 | 2528.1 | 2639.3 | 2596.0 | 2620.1 | 2639.3 | 2687.1 | 2734.2 | 2769.7 | 37 |
| Nonfinancial corporate business; total mortgages; liability | FL103165005 | 1317.1 | 1369.6 | 1407.5 | 1382.6 | 1402.0 | 1407.5 | 1416.1 | 1435.8 | 1461.1 | 38 |
| Nonfinancial corporate business; foreign direct investment in U.S.: intercompany debt; liability (market value) | LM103192305 | 348.9 | 315.1 | 353.7 | 361.7 | 360.8 | 353.7 | 364.1 | 351.8 | 340.4 | 39 |
| Nonfinancial corporate business; trade payables; liability | FL103170005 | 3595.3 | 3852.2 | 3956.1 | 3810.4 | 3884.1 | 3956.1 | 4094.3 | 4193.9 | 4315.6 | 40 |
| Nonfinancial corporate business; total taxes payable; liability | FL103178005 | 265.6 | 249.7 | 239.0 | 232.5 | 233.9 | 239.0 | 338.1 | 223.8 | 189.2 | 41 |
| Nonfinancial corporate business; total miscellaneous liabilities | FL103190005 | 10836.3 | 11843.6 | 11788.1 | 11521.4 | 11431.8 | 11788.1 | 11696.6 | 11866.0 | 11820.4 | 42 |
| Nonfinancial corporate business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability | LM103181105 | 51213.5 | 63154.7 | 76710.0 | 71177.2 | 75077.0 | 76710.0 | 72135.0 | 80216.3 | 87602.3 | 43 |
| Nonfinancial corporate business; corporate equities; liability | LM103164105 | 42065.0 | 51743.0 | 62728.7 | 58179.6 | 61374.7 | 62728.7 | 58806.5 | 65483.8 | 71631.3 | 44 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability (market value) | LM103192105 | 9148.5 | 11411.6 | 13981.4 | 12997.6 | 13702.2 | 13981.4 | 13328.5 | 14732.5 | 15971.0 | 45 |
| Nonfinancial corporate business; net worth | FL102090005 | 30276.3 | 31544.8 | 32986.7 | 32511.9 | 33082.2 | 32986.7 | 32901.6 | 34048.4 | 35347.7 | 46 |
| Nonfinancial corporate business; corporate equities as a percentage of net worth (2) | FL103164106 | 169.15 | 200.21 | 232.55 | 218.93 | 226.94 | 232.55 | 219.24 | 235.60 | 247.83 | 47 |
| Nonfinancial corporate business; debt as a percentage of the market value of corporate equities (2) | FL104104016 | 25.69 | 21.19 | 17.87 | 19.22 | 18.39 | 17.87 | 19.20 | 17.36 | 16.05 | 48 |
| Nonfinancial corporate business; debt as a percentage of net worth (market value) (2) | FL104104006 | 43.45 | 42.43 | 41.56 | 42.08 | 41.74 | 41.56 | 42.10 | 40.90 | 39.78 | 49 |
| Nonfinancial corporate business; total assets at historical cost | FL102000115 | 47539.7 | 51328.5 | 53522.0 | 52382.4 | 53350.1 | 53522.0 | 54193.3 | 55896.3 | 56961.0 | 50 |
| Nonfinancial corporate business; nonfinancial assets at historical cost | FL102010115 | 19033.5 | 19891.8 | 20824.5 | 20330.5 | 20575.4 | 20824.5 | 21169.3 | 21419.4 | 21678.5 | 51 |
| Nonfinancial corporate business; real estate, historical cost basis | FL105035045 | 7298.5 | 7743.5 | 8186.1 | 7957.9 | 8066.5 | 8186.1 | 8285.1 | 8368.6 | 8469.1 | 52 |
| Nonfinancial corporate business; nonresidential equipment, historical cost basis | FL105013213 | 5493.0 | 5718.1 | 5955.7 | 5834.4 | 5897.7 | 5955.7 | 6025.5 | 6100.9 | 6178.3 | 53 |
| Nonfinancial corporate business; nonresidential intellectual property products, historical cost basis | FL105013715 | 3316.8 | 3591.9 | 3851.5 | 3724.6 | 3789.7 | 3851.5 | 3914.1 | 3981.9 | 4051.5 | 54 |
| Nonfinancial corporate business; inventories, historical cost basis (SOI) | FL105020000 | 2925.2 | 2838.3 | 2831.2 | 2813.5 | 2821.6 | 2831.2 | 2944.7 | 2968.0 | 2979.6 | 55 |
| Nonfinancial corporate business; net worth at historical cost | FL102090115 | 19338.5 | 21682.5 | 23474.3 | 22776.4 | 23630.9 | 23474.3 | 23848.3 | 25334.3 | 26235.6 | 56 |
| Nonfinancial corporate business; residential structures, historical cost basis | FL105012613 | 143.7 | 153.3 | 162.5 | 158.1 | 160.3 | 162.5 | 164.8 | 166.9 | 169.1 | 57 |
| Nonfinancial corporate business; nonresidential structures, historical cost basis | FL105013613 | 6488.3 | 6889.9 | 7284.0 | 7091.7 | 7189.8 | 7284.0 | 7377.4 | 7466.7 | 7553.3 | 58 |
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: January 9, 2026