Financial Accounts of the United States - Z.1
S.4.a Nonfinancial noncorporate business1
Billions of dollars
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA116902505 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Less: Consumption of fixed capital | FA116300001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equals: Net value added | FA116902605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Compensation of employees (paid) | FA116025001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Wages and salaries | FA116020001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Employers' social contributions | FA116401005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Taxes on production and imports less subsidies | FA116240101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Operating surplus, net | FA116402105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Net national income/Balance of primary incomes, net | FA116140001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Operating surplus, net | FA116402105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Property income (interest received) | FA116130101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Less: Uses of property income (paid) | FA116150005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Interest | FA116130001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Withdrawals from income of quasi-corporations2 | FA116122001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Reinvested earnings on foreign direct investment | FA113192281 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Rents on land and natural resources | FA116112001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Net national income/Balance of primary incomes, net | FA116140001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Less: Other current transfers (paid) | FA116403001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Equals: Disposable income, net | FA116012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Equals: Net saving | FA116012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Capital account | ||||||||||
| Line 21 | Net saving less capital transfers | FA116006305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Net saving | FA116012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Less: Capital transfers paid (net) | FA115440005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Capital formation, net | FA115050985 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Gross fixed capital formation | FA115019085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Nonresidential | FA115013085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Residential | FA115012005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Less: Consumption of fixed capital | FA116300001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Change in private inventories | FA115020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Net lending (+) or borrowing (-), capital account (lines 21-24) | FA115000905 | -- | -- | -- | -- | -- | -- | -- | -- |
| Financial account | ||||||||||
| Line 31 | Net lending (+) or borrowing (-) (line 30) | FA115000905 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Net acquisition of financial assets | FA114090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Currency and deposits | FA114000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 34 | Currency and transferable deposits | FA113020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Time and savings deposits | FA113030003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Debt securities | FA114022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Treasury securities | FA113061003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Municipal securities | FA113062003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Loans | FA114023005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Short term (consumer credit) | FA113066003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Long term (mortgages) | FA113065005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | Equity and investment fund shares | FA113081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Money market fund shares | FA113034003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Equity in government-sponsored enterprises3 | FA113092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Insurance, pension and standardized guarantee schemes4 | FA113076005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 46 | Other accounts receivable | FA113096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Trade receivables | FA113070003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | PPP subsidies receivable | FA113072003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Other (miscellaneous assets) | FA113093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Net incurrence of liabilities | FA114194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | Loans | FA114135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 52 | Short term | FA114141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 53 | Depository institution loans n.e.c. | FA113168005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 54 | Other loans and advances | FA113169005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 55 | Long term | FA114142005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 56 | Mortgages | FA113165005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 57 | Foreign direct investment in the U.S.: debt | FA115114305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 58 | Equity and investment fund shares | FA113181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 59 | Equity in noncorporate business | FA112090205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 60 | Foreign direct investment in the U.S.: equity | FA115114103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 61 | Other accounts payable | FA113196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 62 | Trade payables | FA113170005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 63 | Taxes payable | FA113178003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 64 | Other (miscellaneous liabilities) | FA113193003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Addendum: | ||||||||||
| Line 65 | Net lending (+) or borrowing (-), financial account (lines 32-50) | FA115000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Other changes in volume account | ||||||||||
| Line 66 | Total other volume changes | FV118090105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 67 | Disaster losses | FV112010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 68 | Other volume changes | FV118090085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Revaluation account | ||||||||||
| Line 69 | Nonfinancial assets | FR112010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 70 | Real estate | FR115035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 71 | Residential | FR115035023 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 72 | Nonresidential | FR115035035 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 73 | Equipment | FR115015205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 74 | Residential | FR115012265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 75 | Nonresidential | FR115013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 76 | Intellectual property products | FR115013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 77 | Inventories | FR115020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 78 | Financial assets (debt securities) | FR114022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 79 | Liabilities | FR114194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 80 | Direct investment in the U.S.: debt | FR115114305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 81 | Equity in noncorporate business | FR112090205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 82 | Direct investment in the U.S.: equity | FR115114103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 83 | Changes in net worth due to nominal holding gains/losses | FR112090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Changes in balance sheet account | ||||||||||
| Line 84 | Change in net worth (lines 24+30+66+83) | FC112090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Balance sheet account (end of period) | ||||||||||
| Line 85 | Total assets | FL112000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 86 | Nonfinancial assets | LM112010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 87 | Real estate | LM115035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 88 | Residential5 | LM115035023 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 89 | Nonresidential | LM115035035 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 90 | Equipment | LM115015205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 91 | Residential | LM115012265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 92 | Nonresidential | LM115013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 93 | Intellectual property products | LM115013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 94 | Inventories | LM115020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 95 | Financial assets | FL114090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 96 | Currency and deposits | FL114000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 97 | Currency and transferable deposits | FL113020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 98 | Time and savings deposits | FL113030003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 99 | Debt securities | LM114022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 100 | Treasury securities | LM113061003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 101 | Municipal securities | LM113062003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 102 | Loans | FL114023005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 103 | Short term (consumer credit) | FL113066003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 104 | Long term (mortgages) | FL113065005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 105 | Equity and investment fund shares | FL113081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 106 | Money market fund shares | FL113034003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 107 | Equity in government-sponsored enterprises3 | FL113092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 108 | Insurance, pension and standardized guarantee schemes4 | FL113076005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 109 | Other accounts receivable | FL113096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 110 | Trade receivables | FL113070003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 111 | PPP subsidies receivable | FL113072003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 112 | Other (miscellaneous assets) | FL113093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 113 | Total liabilities and net worth | FL112100005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 114 | Liabilities | FL114194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 115 | Loans | FL114135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 116 | Short term | FL114141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 117 | Depository institution loans n.e.c. | FL113168005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 118 | Other loans and advances | FL113169005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 119 | Long term | FL114142005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 120 | Mortgages | FL113165005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 121 | Foreign direct investment in the U.S.: debt | FL115114305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 122 | Equity and investment fund shares | LM113181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 123 | Equity in noncorporate business | LM112090205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 124 | Foreign direct investment in the U.S.: equity | LM115114103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 125 | Other accounts payable | FL113196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 126 | Trade payables | FL113170005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 127 | Taxes payable | FL113178003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 128 | Other (miscellaneous liabilities) | FL113193003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 129 | Net worth | FL112090095 | -- | -- | -- | -- | -- | -- | -- | -- |
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.
- Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
- 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.
- Farm houses are included in the household sector.
Last Update: March 9, 2026