Financial Accounts of the United States - Z.1
S.5.a Nonfinancial corporate business1
Billions of dollars
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA106902501 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Less: Consumption of fixed capital | FA106300003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equals: Net value added | FA106902605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Compensation of employees (paid) | FA106025005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Wages and salaries | FA106020001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Employers' social contributions | FA106401001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Taxes on production and imports less subsidies | FA106240101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Operating surplus, net | FA106402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Net national income/Balance of primary incomes, net | FA106140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Operating surplus, net | FA106402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Property income (received) | FA106150105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Interest | FA106130101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Distributed income of corporations (dividends) | FA106121101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Reinvested earnings on U.S. direct investment abroad | FA103092201 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Less: Uses of property income (paid) | FA106150005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Interest | FA106130001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Distributed income of corporations (dividends) | FA106121001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Reinvested earnings on foreign direct investment | FA103192201 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Rent | FA106112001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Net national income/Balance of primary incomes, net | FA106140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Less: Current taxes on income, wealth, etc. (paid) | FA106220001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Less: Other current transfers (paid) | FA106403001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Equals: Disposable income, net | FA106012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Equals: Net saving | FA106012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Capital account | ||||||||||
| Line 25 | Net saving less capital transfers | FA106006385 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Net saving | FA106012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Less: Capital transfers paid (net) | FA105440005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Capital formation, net | FA105050985 | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross fixed capital formation (acquisition of | ||||||||||
| Line 29 | produced nonfinancial assets) | FA105019085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Less: Consumption of fixed capital | FA106300003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | Acquisition of nonproduced nonfinancial assets | FA105420095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Change in private inventories | FA105020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Net lending (+) or borrowing (-), capital account (lines 25-28) | FA105000905 | -- | -- | -- | -- | -- | -- | -- | -- |
| Financial account | ||||||||||
| Line 34 | Net lending (+) or borrowing (-) (line 33) | FA105000905 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Net acquisition of financial assets | FA104090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Currency and deposits | FA104000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Currency and transferable deposits | FA103020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Time and savings deposits | FA103030003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Other deposits | FA103091003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Debt securities | FA104022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Open market paper | FA103069100 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | Treasury securities | FA103061103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Agency- and GSE-backed securities2 | FA103061703 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Municipal securities | FA103062003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Corporate and foreign bonds (held by equity REITs) | FA123063003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 46 | Loans | FA104035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Short term | FA104041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | Long term | FA104042005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Equity and investment fund shares | FA103081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Money market fund shares | FA103034000 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | Corporate equities | FA103064103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 52 | Mutual fund shares | FA103064203 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 53 | U.S. direct investment abroad: equity | FA103092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 54 | Equity in government-sponsored enterprises2 | FA103092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 55 | Insurance, pension and standardized guarantee schemes3 | FA103076005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 56 | Other accounts receivable | FA103096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 57 | Trade receivables | FA103070005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 58 | PPP subsidies receivable | FA103072005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 59 | Other investment in finance company subsidiaries | FA103094705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 60 | Other (miscellaneous assets) | FA103093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 61 | Net incurrence of liabilities | FA104194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 62 | Debt securities | FA104122005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 63 | Open market paper | FA103169100 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 64 | Municipal securities | FA103162000 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 65 | Corporate bonds | FA103163005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 66 | Loans | FA104135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 67 | Short term | FA104141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 68 | Depository institution loans n.e.c. | FA103168005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 69 | Other loans and advances | FA103169005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 70 | Long term | FA104142005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 71 | Mortgages | FA103165005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 72 | Foreign direct investment in the U.S.: debt | FA103192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 73 | Equity and investment fund shares | FA103181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 74 | Corporate equities | FA103164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 75 | Foreign direct investment in the U.S.: equity | FA103192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 76 | Insurance, pension and standardized guarantee schemes | FA103152025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 77 | Pension fund contributions payable | FA573074005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 78 | Claim of pension fund on sponsor | FA573073005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 79 | Other accounts payable | FA103196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 80 | Trade payables | FA103170005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 81 | Taxes payable | FA103178005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 82 | Miscellaneous liabilities | FA103193005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Addendum: | ||||||||||
| Line 83 | Net lending (+) or borrowing (-), financial account (lines 35-61) | FA105000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Other changes in volume account | ||||||||||
| Line 84 | Total other volume changes | FV108090105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 85 | Disaster losses | FV102010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 86 | Other volume changes | FV108090085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 87 | Less: Statistical discrepancy (lines 33-83)4 | FU107005045 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 88 | Less: Inventory valuation adjustment | FU105020601 | -- | -- | -- | -- | -- | -- | -- | -- |
| Revaluation account | ||||||||||
| Line 89 | Nonfinancial assets | FR102010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 90 | Real estate | FR105035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 91 | Equipment | FR105015205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 92 | Intellectual property products | FR105013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 93 | Inventories | FR105020015 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 94 | Financial assets | FR104090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 95 | Debt securities | FR104022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 96 | Direct investment abroad: debt | FR103092305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 97 | Corporate equities | FR103064103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 98 | Mutual fund shares | FR103064203 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 99 | Direct investment abroad: equity | FR103092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 100 | Other accounts receivable (miscellaneous assets) | FR103093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 101 | Liabilities | FR104194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 102 | Foreign direct investment in the U.S.: debt | FR103192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 103 | Corporate equity | FR103164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 104 | Foreign direct investment in the U.S.: equity | FR103192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 105 | Insurance, pension and standardized guarantee schemes | FR103152025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 106 | Other accounts payable (miscellaneous liabilities) | FR103193005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 107 | Changes in net worth due to nominal holding gains/losses | FR102090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Changes in balance sheet account | ||||||||||
| Line 108 | Change in net worth (lines 28+33+84+107)5 | FC102090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Balance sheet account (end of period) | ||||||||||
| Line 109 | Total assets | FL102000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 110 | Nonfinancial assets6 | LM102010005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 111 | Real estate | LM105035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 112 | Equipment | LM105015205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 113 | Intellectual property products | LM105013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 114 | Inventories | LM105020015 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 115 | Financial assets | FL104090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 116 | Currency and deposits | FL104000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 117 | Currency and transferable deposits | FL103020005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 118 | Time and savings deposits | FL103030003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 119 | Other deposits | FL103091003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 120 | Debt securities | LM104022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 121 | Open market paper | FL103069100 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 122 | Treasury securities | LM103061103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 123 | Agency- and GSE-backed securities2 | LM103061703 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 124 | Municipal securities | LM103062003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 125 | Corporate and foreign bonds (held by equity REITs) | LM123063003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 126 | Loans | FL104035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 127 | Short term | FL104041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 128 | Security repurchases | FL102051003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 129 | Consumer credit | FL103066003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 130 | Long term | FL104042005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 131 | Mortgages | FL103065005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 132 | U.S. direct investment abroad: debt | FL103092305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 133 | Equity and investment fund shares | FL103081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 134 | Money market fund shares | FL103034000 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 135 | Corporate equities | LM103064103 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 136 | Mutual fund shares | LM103064203 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 137 | U.S. direct investment abroad: equity | LM103092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 138 | Equity in government-sponsored enterprises2 | FL103092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 139 | Insurance, pension and standardized guarantee schemes3 | FL103076005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 140 | Other accounts receivable | FL103096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 141 | Trade receivables | FL103070005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 142 | PPP subsidies receivable | FL103072005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 143 | Other investment in finance company subsidiaries | FL103094705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 144 | Other (miscellaneous assets) | FL103093005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 145 | Total liabilities and net worth | FL102100085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 146 | Liabilities | FL104194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 147 | Debt securities | FL104122005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 148 | Open market paper | FL103169100 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 149 | Municipal securities | FL103162000 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 150 | Corporate bonds | FL103163005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 151 | Loans | FL104135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 152 | Short term | FL104141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 153 | Depository institution loans n.e.c. | FL103168005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 154 | Other loans and advances | FL103169005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 155 | Long term | FL104142005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 156 | Mortgages | FL103165005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 157 | Foreign direct investment in the U.S.: debt | LM103192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 158 | Equity and investment fund shares | FL103181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 159 | Corporate equity | LM103164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 160 | Foreign direct investment in the U.S.: equity | FL103192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 161 | Insurance, pension and standardized guarantee schemes | FL103152025 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 162 | Pension fund contributions payable | FL573074005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 163 | Claim of pension fund on sponsor | FL573073005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 164 | Other accounts payable | FL103196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 165 | Trade payables | FL103170005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 166 | Taxes payable | FL103178005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 167 | Miscellaneous liabilities | FL103193005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 168 | Net worth | FL102090095 | -- | -- | -- | -- | -- | -- | -- | -- |
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 statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
- Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.
- Excludes nonproduced nonfinancial assets.
Last Update: March 9, 2026