Financial Accounts of the United States - Z.1

F.102 Nonfinancial Business (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Description Series code 2021 2022 2023 2024 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 Line
Nonfinancial business; income before taxes FA146110005 4289.2 4533.7 4749.1 5106.2 4958.6 5090.1 5127.0 5249.0 5254.2 1
Nonfinancial business; gross saving less net capital transfers paid FA146000105 2873.0 3092.2 3464.5 3660.9 3491.5 3609.0 3694.8 3848.3 3734.0 2
Nonfinancial business; gross investment FA145090005 2687.4 3135.9 3499.9 3424.6 2809.0 3550.6 3650.6 3688.4 3519.5 3
Nonfinancial business; total capital expenditures FA145050005 2737.0 3370.3 3444.3 3631.0 3534.0 3669.4 3702.9 3617.8 3901.1 4
Nonfinancial business; gross fixed investment FA145019005 2717.9 3114.2 3403.6 3580.3 3513.9 3573.0 3628.3 3605.9 3692.2 5
Nonfinancial business; gross fixed investment, residential equipment and structures FA145012005 196.2 207.4 207.9 215.1 215.3 216.7 215.9 212.5 216.6 6
Nonfinancial business; gross fixed investment, nonresidential structures, equipment, and intellectual property products FA145013005 2521.7 2906.8 3195.7 3365.1 3298.6 3356.2 3412.4 3393.3 3475.6 7
Nonfinancial business; inventories FA145020005 12.2 149.6 41.7 51.9 21.4 96.8 76.0 13.6 210.3 8
Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) FA105420005 6.8 106.5 -1.0 -1.2 -1.3 -0.4 -1.4 -1.7 -1.4 9
Nonfinancial business; net lending (+) or borrowing (-) (financial account) FA145000005 -49.6 -234.4 55.6 -206.4 -725.0 -118.8 -52.3 70.6 -381.7 10
Nonfinancial business; total financial assets FA144090005 2044.7 3739.7 1669.2 608.1 -872.2 362.1 1054.0 1888.6 1163.5 11
Nonfinancial business; checkable deposits and currency; asset FA143020005 343.7 -40.2 -67.5 303.1 242.5 183.7 439.8 346.3 12.2 12
Nonfinancial business; total time and savings deposits; asset FA143030005 101.0 63.4 168.0 23.5 26.5 12.1 -35.1 90.7 -109.1 13
Nonfinancial corporate business; private foreign deposits; asset FA103091003 31.3 34.7 44.8 -33.6 -10.0 32.8 -96.3 -60.9 33.1 14
Nonfinancial business; money market fund shares; asset FA143034005 102.7 -68.9 139.0 91.9 47.6 41.8 115.8 162.5 119.8 15
Nonfinancial corporate business; security repurchase agreements; asset FA102051003 -10.3 3.4 -3.1 17.4 29.6 -22.6 15.3 47.5 43.7 16
Nonfinancial business; debt securities; asset FA144022005 40.2 16.1 12.8 12.3 73.6 -49.0 39.2 -14.7 58.6 17
Nonfinancial corporate business; commercial paper; asset FA103069100 5.4 -39.4 -7.0 -4.0 62.1 53.8 -61.2 -70.6 75.7 18
Nonfinancial business; Treasury securities; asset FA143061105 12.8 43.6 19.9 15.4 10.9 -70.0 74.1 46.4 -11.1 19
Nonfinancial corporate business; agency- and GSE-backed securities; asset FA103061703 2.9 5.8 6.6 3.3 0.3 -24.9 30.8 7.1 -7.7 20
Nonfinancial business; municipal securities; asset FA143062005 11.3 3.4 -4.1 0.8 1.0 1.4 0.4 0.5 1.1 21
Equity real estate investment trusts; corporate and foreign bonds; asset FA123063003 7.7 2.7 -2.6 -3.2 -0.8 -9.2 -4.8 2.0 0.6 22
Nonfinancial business; loans; asset FA144023005 12.6 -7.1 23.9 5.3 -10.3 -9.7 8.0 33.4 -12.6 23
Nonfinancial business; total mortgages; asset FA143065005 12.7 -7.0 23.9 5.3 1.2 13.7 2.5 4.0 1.6 24
Nonfinancial business; consumer credit; asset FA143066005 -0.0 -0.0 -0.0 -0.0 -11.5 -23.4 5.5 29.4 -14.2 25
Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) FA103092305 -43.1 -31.9 29.2 -55.5 -5.6 -104.1 -79.3 -33.1 -59.8 26
Nonfinancial corporate business; corporate equities; asset FA103064103 -101.4 -136.2 -87.2 -377.0 -354.3 -368.2 -388.6 -396.7 -377.0 27
Nonfinancial corporate business; U.S. direct investment abroad: equity; asset (market value) FA103092105 256.4 298.6 272.8 325.5 323.7 260.4 315.2 402.8 383.8 28
Nonfinancial business; equity in government-sponsored enterprises (GSEs); asset FA143092405 1.4 1.0 3.4 1.0 -0.4 2.6 -0.5 2.3 -0.9 29
Nonfinancial corporate business; mutual fund shares; asset FA103064203 17.3 -19.9 -41.1 41.9 41.9 41.9 41.9 41.9 41.9 30
Nonfinancial business; trade receivables; asset FA143070005 578.1 605.8 360.7 128.4 -463.4 524.0 22.6 430.5 590.3 31
Nonfinancial business; total miscellaneous assets FA143090005 714.8 3020.8 813.6 123.7 -813.6 -183.5 656.0 836.0 439.6 32
Nonfinancial business; total liabilities and equity FA144194005 2094.3 3974.1 1613.6 814.5 -147.1 480.9 1106.3 1818.0 1545.2 33
Nonfinancial business; total liabilities FA144190005 1938.2 4382.4 1971.9 948.5 102.1 759.6 1240.8 1691.5 1415.8 34
Nonfinancial corporate business; debt securities; liability FA104122005 251.7 78.6 225.9 264.8 550.5 291.8 329.8 -112.7 623.6 35
Nonfinancial corporate business; commercial paper; liability FA103169100 6.0 59.3 20.4 -21.6 82.6 -18.5 -166.3 15.6 145.9 36
Nonfinancial corporate business; municipal securities; liability FA103162000 11.8 0.8 -1.3 13.0 26.8 28.5 21.5 -25.0 33.3 37
Nonfinancial corporate business; corporate bonds; liability FA103163005 233.9 18.5 206.9 273.5 441.0 281.7 474.6 -103.3 444.4 38
Nonfinancial business; loans; liability FA144123005 653.1 1002.8 184.1 346.0 291.2 529.7 284.4 278.6 399.8 39
Nonfinancial business; depository institution loans n.e.c.; liability FA143168005 -113.7 294.4 -21.8 44.8 28.8 138.2 -52.0 64.0 110.4 40
Nonfinancial business; other loans and advances; liability FA143169005 356.1 236.2 -23.7 115.7 25.2 256.3 148.2 33.2 125.7 41
Nonfinancial business; total mortgages; liability FA143165005 410.7 472.2 229.5 185.5 237.1 135.1 188.2 181.4 163.7 42
Nonfinancial business; foreign direct investment in U.S.: intercompany debt; liability (market value) FA143192305 -5.0 54.3 -17.5 34.1 2.1 122.3 25.8 -13.9 -54.5 43
Nonfinancial business; trade payables; liability FA143170005 498.1 490.9 280.0 115.7 -289.2 267.0 122.6 362.2 468.3 44
Nonfinancial business; taxes payable; liability FA143178005 6.8 43.2 -6.3 -14.2 73.9 -177.4 19.6 27.0 56.2 45
Nonfinancial business; total miscellaneous liabilities FA143190005 533.5 2712.7 1305.6 202.2 -526.4 -273.7 458.5 1150.2 -77.7 46
Nonfinancial business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability (IMA) FA143181105 156.0 -408.3 -358.2 -134.0 -249.2 -278.7 -134.5 126.5 129.5 47
Nonfinancial corporate business; corporate equities; liability FA103164105 -96.7 -545.2 -621.3 -378.5 -587.0 -540.4 -310.3 -76.1 -161.5 48
Nonfinancial business; foreign direct investment in U.S.; liability (market value) FA143192105 383.9 257.6 285.3 232.6 208.6 233.2 194.2 294.2 289.9 49
Nonfinancial noncorporate business; proprietors' equity in noncorporate business FA112090205 -131.2 -120.8 -22.2 11.9 129.1 28.5 -18.4 -91.6 1.1 50
Nonfinancial corporate business; sector discrepancy FA107005005 185.6 -43.7 -35.4 236.3 682.5 58.4 44.2 159.8 214.6 51

NOTES

  1. Sum of nonfinancial corporate business and nonfinancial noncorporate business.
Last Update: June 12, 2025