Financial Accounts of the United States - Z.1
L.223 Direct investment intercompany debt
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. direct investment abroad: Intercompany Debt | |||||||||||
| Line 1 | U.S. parents' claims | LM263192313 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Less: U.S. parents' liabilities | LM263092313 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equals: Rest of the world liabilities1 | LM263192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Nonfinancial corporate business (assets) | LM103092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | U.S.-chartered depository institutions (assets) | LM763092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Property-casualty insurance companies (assets) | LM513092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Life insurance companies (assets) | LM543092375 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Finance companies (assets) | LM613092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Brokers and dealers (assets) | LM663092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Holding companies (assets) | LM733092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Foreign direct investment in U.S.: Intercompany debt | |||||||||||
| Line 11 | U.S. affiliates' liabilities | LM263092323 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Less: U.S. affiliates' claims | LM263192323 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Equals: Rest of the world assets1 | LM263092305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Nonfinancial corporate business (liabilities) | LM103192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Nonfinancial noncorporate business (liabilities) | LM115114305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Foreign banking offices in U.S. (liabilities) | LM753192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Property-casualty insurance companies (liabilities) | LM513192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Life insurance companies (liabilities) | LM543192375 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Finance companies (liabilities) | LM613192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Brokers and dealers (liabilities) | LM663192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Holding companies (liabilities) | LM733192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Other financial business (liabilities) | LM503192305 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Memo: | |||||||||||
| Line 23 | Total U.S. direct investment abroad1, 2 | LM263192005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Total Foreign direct investment in U.S.1, 2 | LM263092001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Direct investment is presented on a directional basis and reported at market value.
- Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
Last Update: March 9, 2026