Financial Accounts of the United States - Z.1
B.103 Balance Sheet of Nonfinancial Corporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; total assets | FL102000005 | 57283.0 | 58613.3 | 61359.9 | 63161.1 | 61686.4 | 62107.9 | 62900.4 | 63161.1 | 63787.2 | 1 |
| Nonfinancial corporate business; nonfinancial assets | LM102010005 | 29044.4 | 30109.0 | 29938.2 | 30450.5 | 29793.6 | 30070.6 | 30113.9 | 30450.5 | 30583.0 | 2 |
| Nonfinancial corporate business; real estate at market value | LM105035005 | 16712.2 | 16692.9 | 15962.0 | 15741.1 | 15612.6 | 15732.7 | 15579.7 | 15741.1 | 15644.4 | 3 |
| Nonfinancial corporate business; equipment, current cost basis | LM105015205 | 5827.9 | 6286.7 | 6569.7 | 6875.4 | 6668.3 | 6736.5 | 6822.7 | 6875.4 | 6936.9 | 4 |
| Nonfinancial corporate business; nonresidential intellectual property products, current cost basis | LM105013765 | 3346.3 | 3662.4 | 3967.4 | 4324.8 | 4050.5 | 4135.9 | 4227.9 | 4324.8 | 4406.8 | 5 |
| Nonfinancial corporate business; inventories excluding IVA, current cost basis | LM105020015 | 3157.9 | 3467.0 | 3438.9 | 3509.2 | 3462.1 | 3465.4 | 3483.6 | 3509.2 | 3594.9 | 6 |
| Nonfinancial corporate business; total financial assets | FL104090005 | 28238.6 | 28504.3 | 31421.7 | 32710.6 | 31892.8 | 32037.4 | 32786.5 | 32710.6 | 33204.3 | 7 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FL103020005 | 2051.4 | 1996.9 | 1917.3 | 2195.7 | 1896.8 | 1983.5 | 2138.5 | 2195.7 | 2131.5 | 8 |
| Nonfinancial corporate business; total time and savings deposits; asset | FL103030003 | 283.7 | 301.0 | 434.0 | 421.0 | 432.9 | 428.3 | 409.7 | 421.0 | 384.4 | 9 |
| Nonfinancial corporate business; private foreign deposits; asset | FL103091003 | 166.3 | 201.0 | 245.8 | 212.2 | 243.3 | 251.5 | 227.4 | 212.2 | 220.5 | 10 |
| Nonfinancial corporate business; money market fund shares; asset | FL103034000 | 811.5 | 738.0 | 873.7 | 962.2 | 873.0 | 878.2 | 913.3 | 962.2 | 979.7 | 11 |
| Nonfinancial corporate business; security repurchase agreements; asset | FL102051003 | 26.7 | 30.1 | 27.0 | 44.5 | 34.4 | 28.8 | 32.6 | 44.5 | 55.4 | 12 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 409.6 | 382.2 | 400.1 | 406.5 | 408.0 | 397.6 | 417.8 | 406.5 | 418.7 | 13 |
| Nonfinancial corporate business; commercial paper; asset | FL103069100 | 256.3 | 216.9 | 209.8 | 205.9 | 218.7 | 235.1 | 220.7 | 205.9 | 217.3 | 14 |
| Nonfinancial corporate business; Treasury securities; asset | LM103061103 | 79.7 | 89.0 | 111.4 | 121.5 | 111.0 | 92.6 | 118.4 | 121.5 | 123.3 | 15 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | LM103061703 | 26.6 | 29.7 | 37.1 | 40.5 | 37.0 | 30.9 | 39.5 | 40.5 | 39.1 | 16 |
| Nonfinancial corporate business; municipal securities; asset | LM103062003 | 27.3 | 28.2 | 24.9 | 25.3 | 24.8 | 25.1 | 25.7 | 25.3 | 25.2 | 17 |
| Equity real estate investment trusts; corporate and foreign bonds; asset | LM123063003 | 19.8 | 18.5 | 16.8 | 13.4 | 16.4 | 13.9 | 13.4 | 13.4 | 13.7 | 18 |
| Nonfinancial corporate business; loans; asset | FL104023005 | 149.0 | 154.4 | 177.0 | 180.9 | 176.0 | 179.3 | 179.7 | 180.9 | 179.9 | 19 |
| Nonfinancial corporate business; total mortgages; asset | FL103065005 | 113.2 | 118.6 | 141.2 | 145.2 | 141.2 | 144.3 | 144.6 | 145.2 | 145.2 | 20 |
| Nonfinancial corporate business; consumer credit; asset | FL103066005 | 35.8 | 35.8 | 35.8 | 35.7 | 34.7 | 35.0 | 35.1 | 35.7 | 34.7 | 21 |
| Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) | LM103092305 | -31.8 | -74.9 | -57.4 | -111.0 | -46.9 | -75.7 | -102.2 | -111.0 | -125.6 | 22 |
| Nonfinancial corporate business; corporate equities; asset | LM103064103 | 3144.9 | 2397.6 | 2913.8 | 3196.4 | 3121.2 | 3151.6 | 3228.8 | 3196.4 | 2955.5 | 23 |
| Nonfinancial corporate business; U.S. direct investment abroad: equity; asset (market value) | LM103092105 | 7969.7 | 6658.8 | 7702.5 | 8240.6 | 8256.1 | 8279.2 | 8760.1 | 8240.6 | 8794.6 | 24 |
| Nonfinancial corporate business; equity in Fannie Mae and Farm Credit System; asset | FL103092405 | 1.6 | 1.7 | 1.9 | 2.1 | 2.0 | 2.0 | 2.0 | 2.1 | 2.2 | 25 |
| Nonfinancial corporate business; mutual fund shares; asset | LM103064203 | 414.9 | 318.9 | 325.2 | 404.5 | 355.8 | 370.4 | 400.4 | 404.5 | 407.8 | 26 |
| Nonfinancial corporate business; trade receivables; asset | FL103070005 | 4414.3 | 4876.8 | 5209.0 | 5307.7 | 5100.2 | 5204.3 | 5203.2 | 5307.7 | 5464.9 | 27 |
| Nonfinancial corporate business; total miscellaneous assets | FL103090005 | 8426.8 | 10521.8 | 11251.9 | 11247.5 | 11040.0 | 10958.2 | 10975.3 | 11247.5 | 11334.7 | 28 |
| Nonfinancial corporate business; total liabilities and equity | FL104194005 | 90842.3 | 79864.7 | 93138.4 | 107056.4 | 98988.6 | 101089.2 | 105059.0 | 107056.4 | 102520.6 | 29 |
| Nonfinancial corporate business; total liabilities | FL104190005 | 25014.3 | 28203.6 | 29536.7 | 29803.4 | 29368.0 | 29436.3 | 29501.2 | 29803.4 | 30135.3 | 30 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 7933.8 | 8012.3 | 8238.3 | 8502.2 | 8367.9 | 8423.7 | 8524.9 | 8502.2 | 8659.7 | 31 |
| Nonfinancial corporate business; commercial paper; liability | FL103169100 | 138.2 | 197.6 | 218.0 | 196.3 | 232.4 | 211.9 | 192.0 | 196.3 | 236.3 | 32 |
| Nonfinancial corporate business; municipal securities; liability (1) | FL103162000 | 621.3 | 622.1 | 620.8 | 633.7 | 625.7 | 632.5 | 634.9 | 633.7 | 640.1 | 33 |
| Nonfinancial corporate business; corporate bonds; liability | FL103163005 | 7174.2 | 7192.6 | 7399.5 | 7672.2 | 7509.8 | 7579.3 | 7698.0 | 7672.2 | 7783.3 | 34 |
| Nonfinancial corporate business; loans; liability | FL104123005 | 4788.3 | 5191.3 | 5209.5 | 5251.9 | 5248.7 | 5318.2 | 5332.1 | 5251.9 | 5295.5 | 35 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FL103168005 | 1119.3 | 1255.6 | 1244.3 | 1158.8 | 1256.6 | 1273.1 | 1257.6 | 1158.8 | 1154.7 | 36 |
| Nonfinancial corporate business; other loans and advances; liability | FL103169005 | 2491.2 | 2608.4 | 2586.7 | 2677.9 | 2605.8 | 2654.7 | 2670.7 | 2677.9 | 2721.4 | 37 |
| Nonfinancial corporate business; total mortgages; liability | FL103165005 | 1177.7 | 1327.2 | 1378.6 | 1415.2 | 1386.4 | 1390.3 | 1403.7 | 1415.2 | 1419.3 | 38 |
| Nonfinancial corporate business; foreign direct investment in U.S.: intercompany debt; liability (market value) | LM103192305 | 309.5 | 345.8 | 324.1 | 367.9 | 331.8 | 367.4 | 371.3 | 367.9 | 354.2 | 39 |
| Nonfinancial corporate business; trade payables; liability | FL103170005 | 3194.4 | 3595.3 | 3852.2 | 3951.7 | 3731.2 | 3810.4 | 3875.2 | 3951.7 | 4021.7 | 40 |
| Nonfinancial corporate business; total taxes payable; liability | FL103178005 | 249.8 | 265.6 | 249.7 | 225.5 | 278.1 | 219.3 | 224.2 | 225.5 | 248.7 | 41 |
| Nonfinancial corporate business; total miscellaneous liabilities | FL103190005 | 8538.6 | 10793.3 | 11662.8 | 11504.1 | 11410.3 | 11297.3 | 11173.4 | 11504.1 | 11555.6 | 42 |
| Nonfinancial corporate business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability | LM103181105 | 65828.0 | 51661.1 | 63601.7 | 77253.1 | 69620.7 | 71652.9 | 75557.9 | 77253.1 | 72385.3 | 43 |
| Nonfinancial corporate business; corporate equities; liability | LM103164105 | 54534.1 | 42518.1 | 52271.7 | 63399.0 | 57214.4 | 58759.1 | 61968.1 | 63399.0 | 59202.0 | 44 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability (market value) | LM103192105 | 11293.9 | 9143.0 | 11329.9 | 13854.1 | 12406.2 | 12893.8 | 13589.8 | 13854.1 | 13183.3 | 45 |
| Nonfinancial corporate business; net worth | FL102090005 | 32268.7 | 30409.7 | 31823.2 | 33357.8 | 32318.4 | 32671.6 | 33399.2 | 33357.8 | 33652.0 | 46 |
| Nonfinancial corporate business; corporate equities as a percentage of net worth (2) | FL103164106 | 204.00 | 169.88 | 199.86 | 231.59 | 215.42 | 219.31 | 226.23 | 231.59 | 215.10 | 47 |
| Nonfinancial corporate business; debt as a percentage of the market value of corporate equities (2) | FL104104016 | 19.33 | 25.56 | 21.14 | 17.80 | 19.56 | 19.18 | 18.34 | 17.80 | 19.28 | 48 |
| Nonfinancial corporate business; debt as a percentage of net worth (market value) (2) | FL104104006 | 39.43 | 43.42 | 42.26 | 41.23 | 42.13 | 42.06 | 41.49 | 41.23 | 41.47 | 49 |
| Nonfinancial corporate business; total assets at historical cost | FL102000115 | 46040.2 | 47540.6 | 51312.3 | 53572.9 | 52016.0 | 52381.4 | 53388.5 | 53572.9 | 54439.5 | 50 |
| Nonfinancial corporate business; nonfinancial assets at historical cost | FL102010115 | 17801.6 | 19036.3 | 19890.6 | 20862.3 | 20123.2 | 20344.0 | 20602.0 | 20862.3 | 21235.3 | 51 |
| Nonfinancial corporate business; real estate, historical cost basis | FL105035045 | 6970.9 | 7297.8 | 7715.7 | 8146.3 | 7826.4 | 7923.4 | 8027.1 | 8146.3 | 8249.0 | 52 |
| Nonfinancial corporate business; nonresidential equipment, historical cost basis | FL105013213 | 5305.3 | 5501.3 | 5742.2 | 6000.3 | 5803.1 | 5868.1 | 5938.4 | 6000.3 | 6075.7 | 53 |
| Nonfinancial corporate business; nonresidential intellectual property products, historical cost basis | FL105013715 | 3035.8 | 3312.1 | 3594.4 | 3888.4 | 3667.8 | 3740.7 | 3815.4 | 3888.4 | 3961.8 | 54 |
| Nonfinancial corporate business; inventories, historical cost basis (SOI) | FL105020000 | 2489.6 | 2925.2 | 2838.3 | 2827.3 | 2825.9 | 2811.8 | 2821.1 | 2827.3 | 2948.7 | 55 |
| Nonfinancial corporate business; net worth at historical cost | FL102090115 | 21025.9 | 19337.0 | 21775.6 | 23769.5 | 22648.0 | 22945.0 | 23887.3 | 23769.5 | 24304.2 | 56 |
| Nonfinancial corporate business; residential structures, historical cost basis | FL105012613 | 134.4 | 143.7 | 153.1 | 163.9 | 155.8 | 158.5 | 161.2 | 163.9 | 166.6 | 57 |
| Nonfinancial corporate business; nonresidential structures, historical cost basis | FL105013613 | 6198.5 | 6487.7 | 6862.2 | 7246.7 | 6959.9 | 7057.0 | 7151.8 | 7246.7 | 7340.9 | 58 |
NOTES
- 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.
- Debt is calculated as the sum of debt securities (line 31) and loans (line 35). Equity is total equity (line 43).
Last Update: June 12, 2025