Board of Governors of the Federal Reserve System

Annual transactions computed as nonresidential gross investment of nondepository institutions (unpublished BEA data); multiplied by the ratio of nonresidential fixed assets of GSEs at historical cost (FOF series FL405013105) over nonresidential fixed assets of nondepository institutions at historical cost (unpublished BEA data); multiplied by the ratio of depository institutions gross investment in nonresidential software (unpublished BEA data) over depository institutions nonresidential gross investment (unpublished BEA data). Annual transactions are converted to seasonally adjusted quarterly transactions by calculating the ratio of the above series to annual data on private domestic investment in software (a portion of NIPA, Table 1.1.5 Gross Domestic Product, line 12, Private domestic, Nonresidential, Intellectual property products); multiplied by quarterly data on private domestic investment in software (a portion of line 12, Private domestic, Nonresidential, Intellectual property products). Unadjusted transactions are calculated as transactions at a seasonally adjusted annual rate divided by 4. Series has no stocks outstanding.