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 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nonfinancial corporate business; total assets | FL102000005 | 58493.3 | 61200.6 | 63076.6 | 61620.3 | 62137.0 | 62860.3 | 63076.6 | 63349.4 | 64702.3 | 1 |
| Nonfinancial corporate business; nonfinancial assets | LM102010005 | 29988.1 | 29764.7 | 30389.7 | 29715.9 | 30096.0 | 30074.8 | 30389.7 | 30298.8 | 30119.2 | 2 |
| Nonfinancial corporate business; real estate at market value | LM105035005 | 16572.0 | 15788.6 | 15683.2 | 15534.8 | 15758.2 | 15542.1 | 15683.2 | 15371.2 | 15023.4 | 3 |
| Nonfinancial corporate business; equipment, current cost basis | LM105015205 | 6286.7 | 6569.7 | 6872.5 | 6668.3 | 6736.5 | 6821.1 | 6872.5 | 6933.5 | 7035.5 | 4 |
| Nonfinancial corporate business; nonresidential intellectual property products, current cost basis | LM105013765 | 3662.4 | 3967.4 | 4324.8 | 4050.5 | 4135.9 | 4227.9 | 4324.8 | 4403.7 | 4477.4 | 5 |
| Nonfinancial corporate business; inventories excluding IVA, current cost basis | LM105020015 | 3467.0 | 3438.9 | 3509.2 | 3462.1 | 3465.4 | 3483.6 | 3509.2 | 3590.4 | 3582.9 | 6 |
| Nonfinancial corporate business; total financial assets | FL104090005 | 28505.2 | 31435.8 | 32686.9 | 31904.5 | 32041.0 | 32785.5 | 32686.9 | 33050.6 | 34583.0 | 7 |
| Nonfinancial corporate business; checkable deposits and currency; asset | FL103020005 | 1996.9 | 1917.3 | 2200.0 | 1896.8 | 1988.5 | 2143.2 | 2200.0 | 2135.8 | 2192.1 | 8 |
| Nonfinancial corporate business; total time and savings deposits; asset | FL103030003 | 301.0 | 434.0 | 420.5 | 432.9 | 428.8 | 410.0 | 420.5 | 383.8 | 368.8 | 9 |
| Nonfinancial corporate business; private foreign deposits; asset | FL103091003 | 201.0 | 245.8 | 212.2 | 243.3 | 252.1 | 227.7 | 212.2 | 220.8 | 219.0 | 10 |
| Nonfinancial corporate business; money market fund shares; asset | FL103034000 | 738.0 | 873.7 | 962.2 | 873.0 | 878.2 | 913.3 | 962.2 | 979.7 | 986.6 | 11 |
| Nonfinancial corporate business; security repurchase agreements; asset | FL102051003 | 30.1 | 27.0 | 43.8 | 34.4 | 28.3 | 32.1 | 43.8 | 54.2 | 49.7 | 12 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 382.2 | 400.1 | 405.4 | 408.0 | 397.6 | 418.0 | 405.4 | 415.2 | 411.3 | 13 |
| Nonfinancial corporate business; commercial paper; asset | FL103069100 | 216.9 | 209.8 | 203.1 | 218.7 | 232.3 | 218.1 | 203.1 | 212.1 | 204.2 | 14 |
| Nonfinancial corporate business; Treasury securities; asset | LM103061103 | 89.0 | 111.4 | 122.7 | 111.0 | 94.8 | 120.5 | 122.7 | 124.6 | 127.8 | 15 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | LM103061703 | 29.7 | 37.1 | 40.9 | 37.0 | 31.6 | 40.2 | 40.9 | 39.5 | 40.6 | 16 |
| Nonfinancial corporate business; municipal securities; asset | LM103062003 | 28.2 | 24.9 | 25.3 | 24.8 | 25.1 | 25.7 | 25.3 | 25.2 | 25.4 | 17 |
| Equity real estate investment trusts; corporate and foreign bonds; asset | LM123063003 | 18.5 | 16.8 | 13.4 | 16.4 | 13.9 | 13.4 | 13.4 | 13.7 | 13.3 | 18 |
| Nonfinancial corporate business; loans; asset | FL104023005 | 118.6 | 141.2 | 145.2 | 141.2 | 144.4 | 144.6 | 145.2 | 145.3 | 145.2 | 19 |
| Nonfinancial corporate business; total mortgages; asset | FL103065005 | 118.6 | 141.2 | 145.2 | 141.2 | 144.4 | 144.6 | 145.2 | 145.3 | 145.2 | 20 |
| Nonfinancial corporate business; consumer credit; asset | FL103066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 21 |
| Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) | LM103092305 | -84.4 | -56.4 | -62.5 | -54.8 | -85.2 | -111.4 | -62.5 | -9.4 | -12.8 | 22 |
| Nonfinancial corporate business; corporate equities; asset | LM103064103 | 2397.6 | 2913.8 | 3238.6 | 3130.7 | 3171.3 | 3259.8 | 3238.6 | 3005.9 | 3239.3 | 23 |
| Nonfinancial corporate business; U.S. direct investment abroad: equity; asset (market value) | LM103092105 | 6666.3 | 7627.6 | 8105.3 | 8182.4 | 8177.5 | 8656.8 | 8105.3 | 8410.8 | 9426.2 | 24 |
| Nonfinancial corporate business; equity in Fannie Mae and Farm Credit System; asset | FL103092405 | 1.7 | 1.9 | 2.1 | 2.0 | 2.0 | 2.0 | 2.1 | 2.2 | 2.1 | 25 |
| Nonfinancial corporate business; mutual fund shares; asset | LM103064203 | 318.9 | 325.2 | 404.5 | 355.8 | 370.4 | 400.4 | 404.5 | 407.8 | 450.1 | 26 |
| Nonfinancial corporate business; trade receivables; asset | FL103070005 | 4912.6 | 5244.7 | 5332.4 | 5135.0 | 5235.9 | 5232.6 | 5332.4 | 5494.5 | 5606.1 | 27 |
| Nonfinancial corporate business; total miscellaneous assets | FL103090005 | 10524.7 | 11339.9 | 11277.2 | 11123.8 | 11051.1 | 11056.4 | 11277.2 | 11404.0 | 11499.4 | 28 |
| Nonfinancial corporate business; total liabilities and equity | FL104194005 | 79836.3 | 93249.0 | 107171.0 | 99161.4 | 101199.0 | 105213.7 | 107171.0 | 102619.4 | 111137.9 | 29 |
| Nonfinancial corporate business; total liabilities | FL104190005 | 28202.3 | 29637.3 | 30002.0 | 29521.5 | 29594.2 | 29694.2 | 30002.0 | 30322.8 | 30574.4 | 30 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 8012.6 | 8240.4 | 8502.8 | 8370.4 | 8426.0 | 8526.5 | 8502.8 | 8662.2 | 8653.8 | 31 |
| Nonfinancial corporate business; commercial paper; liability | FL103169100 | 197.6 | 218.0 | 196.3 | 232.4 | 211.9 | 192.0 | 196.3 | 235.9 | 254.2 | 32 |
| Nonfinancial corporate business; municipal securities; liability (1) | FL103162000 | 622.9 | 621.6 | 634.6 | 626.5 | 633.5 | 635.7 | 634.6 | 641.0 | 650.9 | 33 |
| Nonfinancial corporate business; corporate bonds; liability | FL103163005 | 7192.1 | 7400.9 | 7671.9 | 7511.5 | 7580.6 | 7698.8 | 7671.9 | 7785.3 | 7748.8 | 34 |
| Nonfinancial corporate business; loans; liability | FL104123005 | 5193.1 | 5200.8 | 5262.1 | 5235.4 | 5309.4 | 5338.2 | 5262.1 | 5245.3 | 5311.6 | 35 |
| Nonfinancial corporate business; depository institution loans n.e.c.; liability | FL103168005 | 1255.6 | 1243.9 | 1157.6 | 1253.3 | 1272.3 | 1256.7 | 1157.6 | 1084.0 | 1099.0 | 36 |
| Nonfinancial corporate business; other loans and advances; liability | FL103169005 | 2610.2 | 2573.7 | 2681.3 | 2590.5 | 2640.0 | 2663.7 | 2681.3 | 2728.9 | 2766.9 | 37 |
| Nonfinancial corporate business; total mortgages; liability | FL103165005 | 1327.2 | 1383.1 | 1423.2 | 1391.6 | 1397.1 | 1417.8 | 1423.2 | 1432.3 | 1445.7 | 38 |
| Nonfinancial corporate business; foreign direct investment in U.S.: intercompany debt; liability (market value) | LM103192305 | 348.9 | 315.1 | 353.7 | 325.4 | 361.7 | 360.8 | 353.7 | 335.9 | 313.2 | 39 |
| Nonfinancial corporate business; trade payables; liability | FL103170005 | 3595.3 | 3852.2 | 3950.7 | 3731.2 | 3810.4 | 3878.1 | 3950.7 | 4088.4 | 4197.8 | 40 |
| Nonfinancial corporate business; total taxes payable; liability | FL103178005 | 265.6 | 249.7 | 236.7 | 278.1 | 232.5 | 234.0 | 236.7 | 334.9 | 222.3 | 41 |
| Nonfinancial corporate business; total miscellaneous liabilities | FL103190005 | 10786.8 | 11779.1 | 11696.0 | 11581.1 | 11454.2 | 11356.6 | 11696.0 | 11656.2 | 11875.7 | 42 |
| Nonfinancial corporate business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability | LM103181105 | 51634.0 | 63611.7 | 77169.0 | 69639.9 | 71604.8 | 75519.5 | 77169.0 | 72296.6 | 80563.5 | 43 |
| Nonfinancial corporate business; corporate equities; liability | LM103164105 | 42485.6 | 52200.1 | 63187.6 | 57133.4 | 58607.2 | 61817.3 | 63187.6 | 59005.4 | 65714.9 | 44 |
| Nonfinancial corporate business; foreign direct investment in U.S.; liability (market value) | LM103192105 | 9148.5 | 11411.6 | 13981.4 | 12506.5 | 12997.6 | 13702.2 | 13981.4 | 13291.2 | 14848.5 | 45 |
| Nonfinancial corporate business; net worth | FL102090005 | 30291.0 | 31563.2 | 33074.6 | 32098.8 | 32542.8 | 33166.0 | 33074.6 | 33026.6 | 34127.9 | 46 |
| Nonfinancial corporate business; corporate equities as a percentage of net worth (2) | FL103164106 | 170.46 | 201.54 | 233.32 | 216.95 | 220.03 | 227.70 | 233.32 | 218.90 | 236.06 | 47 |
| Nonfinancial corporate business; debt as a percentage of the market value of corporate equities (2) | FL104104016 | 25.58 | 21.13 | 17.84 | 19.54 | 19.18 | 18.36 | 17.84 | 19.24 | 17.33 | 48 |
| Nonfinancial corporate business; debt as a percentage of net worth (market value) (2) | FL104104006 | 43.60 | 42.58 | 41.62 | 42.39 | 42.21 | 41.80 | 41.62 | 42.11 | 40.92 | 49 |
| Nonfinancial corporate business; total assets at historical cost | FL102000115 | 47541.5 | 51326.4 | 53556.0 | 52027.7 | 52387.0 | 53390.3 | 53556.0 | 54279.7 | 56079.0 | 50 |
| Nonfinancial corporate business; nonfinancial assets at historical cost | FL102010115 | 19036.3 | 19890.6 | 20869.1 | 20123.2 | 20346.0 | 20604.8 | 20869.1 | 21229.0 | 21495.9 | 51 |
| Nonfinancial corporate business; real estate, historical cost basis | FL105035045 | 7297.8 | 7715.7 | 8147.5 | 7826.4 | 7923.7 | 8027.4 | 8147.5 | 8248.1 | 8333.3 | 52 |
| Nonfinancial corporate business; nonresidential equipment, historical cost basis | FL105013213 | 5501.3 | 5742.2 | 6000.3 | 5803.1 | 5868.1 | 5938.4 | 6000.3 | 6075.1 | 6154.6 | 53 |
| Nonfinancial corporate business; nonresidential intellectual property products, historical cost basis | FL105013715 | 3312.1 | 3594.4 | 3888.4 | 3667.8 | 3740.7 | 3815.4 | 3888.4 | 3962.2 | 4039.8 | 54 |
| Nonfinancial corporate business; inventories, historical cost basis (SOI) | FL105020000 | 2925.2 | 2838.3 | 2833.0 | 2825.9 | 2813.5 | 2823.6 | 2833.0 | 2943.6 | 2968.3 | 55 |
| Nonfinancial corporate business; net worth at historical cost | FL102090115 | 19339.2 | 21689.1 | 23554.0 | 22506.2 | 22792.8 | 23696.1 | 23554.0 | 23956.8 | 25504.5 | 56 |
| Nonfinancial corporate business; residential structures, historical cost basis | FL105012613 | 143.7 | 153.1 | 163.9 | 155.8 | 158.5 | 161.2 | 163.9 | 166.6 | 169.3 | 57 |
| Nonfinancial corporate business; nonresidential structures, historical cost basis | FL105013613 | 6487.7 | 6862.2 | 7246.7 | 6959.9 | 7057.0 | 7151.8 | 7246.7 | 7340.9 | 7430.7 | 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: September 11, 2025