F.103 Nonfinancial Corporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Description Series code 2018 2019 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Line
Nonfinancial corporate business; corporate profits before tax excluding IVA and CCAdj FA106060005 1255.9 1261.3 1244.4 1265.2 1222.2 1313.5 1076.8 939.2 1502.1 1
Nonfinancial corporate business; taxes on corporate income FA106231005 196.4 212.4 212.5 219.7 195.6 221.7 184.8 160.6 212.2 2
Nonfinancial corporate business; net dividends paid FA106121075 259.8 636.6 606.1 605.6 672.8 661.8 607.2 736.1 674.4 3
Nonfinancial corporate business; inventory valuation adjustment (IVA) FA105020601 -54.7 -5.3 -34.0 2.6 28.4 -18.1 58.9 50.4 -83.0 4
Nonfinancial corporate business; capital consumption allowance (1) FA106300015 1659.0 1663.0 1636.7 1654.4 1671.6 1689.5 1676.9 1688.4 1699.9 5
Nonfinancial corporate business; foreign earnings retained abroad FA106006065 -344.3 34.4 -38.0 13.1 52.5 110.0 -79.4 30.0 -5.3 6
Nonfinancial corporate business; net capital transfers paid (2) FA105440005 -6.2 -1.1 -1.1 -1.2 -1.3 -0.9 -0.9 57.0 -0.8 7
Nonfinancial corporate business; gross saving including foreign earnings retained abroad less net capital transfers paid FA106000105 2066.0 2105.7 1991.5 2111.2 2107.5 2212.3 1942.1 1754.3 2227.9 8
Nonfinancial corporate business; gross investment FA105090005 1936.0 1625.8 701.8 1776.6 2531.2 1493.5 2655.5 1440.2 2338.9 9
Nonfinancial corporate business; total capital expenditures FA105050005 2068.2 2147.7 2185.6 2151.1 2147.4 2106.6 2025.9 1669.6 2023.6 10
Nonfinancial corporate business; gross fixed investment (3) FA105019005 2017.0 2097.5 2087.5 2097.7 2105.0 2099.8 2071.4 1928.5 2021.2 11
Nonfinancial corporate business; inventories including IVA FA105020005 53.4 50.5 94.7 54.5 43.9 9.1 -42.4 -254.4 -4.0 12
Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) FA105420005 -2.1 -0.4 3.3 -1.2 -1.4 -2.4 -3.1 -4.5 6.5 13
Nonfinancial corporate business; net lending (+) or borrowing (-) (financial account) FA105000005 -132.2 -521.9 -1483.7 -374.5 383.7 -613.1 629.6 -229.5 315.2 14
Nonfinancial corporate business; total financial assets FA104090005 870.5 757.2 40.8 816.0 1304.6 867.5 3022.6 1097.2 1068.2 15
Nonfinancial corporate business; private foreign deposits; asset FA103091003 -110.3 10.3 5.5 48.6 -70.5 57.6 -69.5 123.1 29.4 16
Nonfinancial corporate business; checkable deposits and currency; asset FA103020000 238.0 81.0 -215.8 350.4 655.3 -465.8 1051.9 1321.1 -558.9 17
Nonfinancial corporate business; total time and savings deposits; asset FA103030003 5.8 8.9 56.3 10.2 -75.8 44.8 360.5 69.4 -154.1 18
Nonfinancial corporate business; money market fund shares; asset FA103034000 -33.4 92.2 80.9 104.0 116.3 67.6 1486.1 207.1 -169.3 19
Nonfinancial corporate business; security repurchase agreements; asset FA102051003 -25.0 -2.4 -9.9 -7.2 -0.6 8.2 48.9 21.0 -4.9 20
Nonfinancial corporate business; debt securities; asset FA104022005 19.1 71.1 14.2 77.8 154.1 38.3 148.3 47.0 24.4 21
Nonfinancial corporate business; commercial paper; asset FA103069100 38.4 82.8 5.1 121.9 181.0 23.0 55.2 -33.7 78.5 22
Nonfinancial corporate business; Treasury securities; asset FA103061103 -15.6 -8.8 6.9 -33.2 -20.4 11.4 67.6 60.0 -41.4 23
Nonfinancial corporate business; agency- and GSE-backed securities; asset FA103061703 -5.5 -2.8 2.5 -10.5 -6.3 3.1 25.7 20.5 -13.1 24
Nonfinancial corporate business; municipal securities; asset FA103062003 1.7 -0.1 -0.3 -0.5 -0.3 0.8 -0.2 0.2 0.4 25
Nonfinancial corporate business; loans; asset FA104023005 2.2 2.5 -1.7 -9.2 -1.4 22.3 -3.8 -12.5 -0.9 26
Nonfinancial corporate business; total mortgages; asset FA103065003 2.0 2.5 2.4 2.5 2.5 2.6 2.6 2.7 2.7 27
Nonfinancial corporate business; consumer credit; asset FA103066005 0.2 0.0 -4.2 -11.6 -3.9 19.7 -6.4 -15.2 -3.6 28
Nonfinancial corporate business; corporate equities; asset FA103064103 -37.9 3.8 3.6 3.8 3.8 4.1 3.8 3.8 3.8 29
Nonfinancial corporate business; mutual fund shares; asset FA103064203 -9.8 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 30
Nonfinancial corporate business; trade receivables, including Paycheck Protection Program subsidies receivable; asset FA103070005 396.4 83.9 186.9 124.0 -29.7 54.4 -291.4 -400.5 1286.0 31
Nonfinancial corporate business; U.S. direct investment abroad (market value); asset (4) FA103092005 -157.6 77.5 -237.6 321.5 -61.1 287.1 -130.4 247.4 157.6 32
Nonfinancial corporate business; total miscellaneous assets FA103090005 583.0 323.4 153.4 -212.9 609.2 743.8 413.2 -534.8 450.1 33
Nonfinancial corporate business; total liabilities and equity FA104194005 1002.7 1279.1 1524.6 1190.5 920.9 1480.6 2393.0 1326.7 752.9 34
Nonfinancial corporate business; debt securities; liability FA104122005 140.2 260.3 464.4 261.4 381.5 -66.0 680.7 1414.7 256.5 35
Nonfinancial corporate business; commercial paper; liability FA103169100 -10.2 -1.9 87.8 -61.6 -10.4 -23.5 -32.6 -282.4 -81.8 36
Nonfinancial corporate business; municipal securities; liability (5) FA103162000 -4.1 14.1 13.9 5.7 13.9 22.9 14.9 -2.2 17.4 37
Nonfinancial corporate business; corporate bonds; liability (4) FA103163003 154.5 248.2 362.7 317.3 378.0 -65.3 698.4 1699.4 320.9 38
Nonfinancial corporate business; loans; liability FA104123005 130.5 187.4 296.9 182.9 216.4 53.1 1723.6 17.1 -665.9 39
Nonfinancial corporate business; depository institution loans n.e.c.; liability FA103168005 69.8 19.5 42.7 49.3 29.9 -43.7 1319.8 -5.3 -730.6 40
Nonfinancial corporate business; other loans and advances; liability (6) FA103169005 4.2 128.8 179.9 98.0 139.5 97.8 334.8 -30.6 12.3 41
Nonfinancial corporate business; total mortgages; liability FA103165005 56.5 39.0 74.4 35.7 47.0 -0.9 68.9 53.1 52.5 42
Nonfinancial corporate business; corporate equities; liability FA103164103 -548.3 -452.4 -699.2 -168.7 -446.4 -495.2 -392.2 -73.0 -27.1 43
Nonfinancial corporate business; trade payables; liability FA103170005 320.7 80.9 139.4 96.1 17.4 70.5 -188.4 -515.2 690.6 44
Nonfinancial corporate business; total taxes payable; liability FA103178005 -10.6 -15.3 -8.0 -73.8 30.1 -9.4 44.6 146.5 -171.1 45
Nonfinancial corporate business; foreign direct investment in U.S. (market value); liability FA103192005 184.5 253.6 296.6 268.1 173.1 276.6 157.3 59.4 153.8 46
Nonfinancial corporate business; total miscellaneous liabilities FA103190005 785.6 964.6 1034.4 624.5 548.7 1650.9 367.3 277.2 516.0 47
Private pension funds; pension fund contributions receivable; asset FA573074005 -34.6 -0.9 -6.0 22.0 -10.3 -9.1 12.5 -10.5 -7.2 48
Private defined benefit pension funds; claims of pension fund on sponsor; asset FA573073005 80.1 -13.8 13.8 -96.4 23.8 3.8 -65.7 7.1 -3.1 49
Nonfinancial corporate business; unidentified miscellaneous liabilities FA103193005 740.0 979.3 1026.6 698.9 535.2 1656.3 420.5 280.7 526.3 50
Nonfinancial corporate business; sector discrepancy FA107005005 130.0 479.9 1289.7 334.7 -423.6 718.9 -713.4 314.1 -110.9 51
Nonfinancial corporate business; difference between capital expenditures and gross savings less net capital transfers paid, excluding foreign earnings retained abroad (financing gap) (7) FA105005305 -342.1 76.4 156.0 53.0 92.4 4.2 4.4 -54.7 -209.6 52

NOTES

  1. Consumption of fixed capital plus the capital consumption adjustment.
  2. Table F.5, line 61.
  3. Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 10 and 15 respectively.
  4. Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.
  5. 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.
  6. Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.
  7. The financing gap is the difference between capital expenditures (line 10) and gross savings less net capital transfers paid less foreign earnings retained abroad (line 8 minus line 6).
Last Update: December 10, 2020