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 2022 2023 2024 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 Line
Nonfinancial business; income before taxes FA146110005 4548.0 4870.6 5190.1 5166.1 5199.9 5333.5 5028.1 5061.7 5199.6 1
Nonfinancial business; gross saving less net capital transfers paid FA146000105 3062.4 3367.1 3455.5 3397.1 3497.6 3633.7 3614.0 3583.3 3743.2 2
Nonfinancial business; gross investment FA145090005 3224.2 3404.1 3311.6 3543.1 3413.6 3615.7 3772.8 2966.5 2901.0 3
Nonfinancial business; total capital expenditures FA145050005 3397.6 3465.9 3584.8 3626.1 3654.5 3554.5 3818.9 3610.4 3648.6 4
Nonfinancial business; gross fixed investment FA145019005 3110.9 3414.9 3534.5 3530.9 3574.7 3540.6 3610.4 3660.2 3719.9 5
Nonfinancial business; gross fixed investment, residential equipment and structures FA145012005 207.6 209.1 211.6 212.1 211.2 212.4 217.1 214.2 208.1 6
Nonfinancial business; gross fixed investment, nonresidential structures, equipment, and intellectual property products FA145013005 2903.3 3205.9 3322.9 3318.8 3363.5 3328.2 3393.2 3446.0 3511.8 7
Nonfinancial business; inventories FA145020005 181.2 53.7 53.5 97.7 83.3 17.8 212.2 -45.8 -67.3 8
Nonfinancial corporate business; acquisition of nonproduced nonfinancial assets (net) FA105420005 105.4 -2.7 -3.2 -2.5 -3.5 -3.9 -3.7 -4.0 -4.0 9
Nonfinancial business; net lending (+) or borrowing (-) (financial account) FA145000005 -173.4 -61.8 -273.2 -83.0 -240.9 61.2 -46.1 -643.8 -747.6 10
Nonfinancial business; total financial assets FA144090005 3739.1 1669.0 580.6 331.8 949.5 1899.2 1082.4 1082.8 768.2 11
Nonfinancial business; checkable deposits and currency; asset FA143020005 -40.2 -67.6 309.8 208.8 417.6 365.1 39.2 17.1 220.4 12
Nonfinancial business; total time and savings deposits; asset FA143030005 63.4 168.0 21.0 13.7 -43.9 87.7 -109.6 -36.9 127.9 13
Nonfinancial corporate business; private foreign deposits; asset FA103091003 34.7 44.8 -32.7 35.3 -95.3 -61.1 34.2 -8.4 -59.5 14
Nonfinancial business; money market fund shares; asset FA143034005 -68.9 139.0 91.9 41.8 115.8 162.5 119.8 46.0 143.8 15
Nonfinancial corporate business; security repurchase agreements; asset FA102051003 3.4 -3.1 18.9 -24.3 23.1 47.0 40.9 -8.3 60.0 16
Nonfinancial business; debt securities; asset FA144022005 16.1 12.8 14.2 -47.8 50.3 -19.8 50.4 -32.2 52.4 17
Nonfinancial corporate business; commercial paper; asset FA103069100 -39.4 -7.0 -3.3 42.4 -46.3 -71.3 63.0 -46.2 30.5 18
Nonfinancial business; Treasury securities; asset FA143061105 43.6 19.9 16.0 -61.2 70.9 43.1 -10.7 10.0 16.9 19
Nonfinancial corporate business; agency- and GSE-backed securities; asset FA103061703 5.8 6.6 3.5 -22.0 29.8 5.9 -4.8 2.9 6.4 20
Nonfinancial business; municipal securities; asset FA143062005 3.4 -4.1 1.3 2.3 0.6 0.5 2.3 3.3 0.7 21
Equity real estate investment trusts; corporate and foreign bonds; asset FA123063003 2.7 -2.6 -3.2 -9.2 -4.8 2.0 0.6 -2.2 -2.0 22
Nonfinancial business; loans; asset FA144023005 -7.0 23.9 5.4 13.8 2.5 4.1 1.7 0.4 2.8 23
Nonfinancial business; total mortgages; asset FA143065005 -7.0 23.9 5.4 13.8 2.5 4.1 1.7 0.4 2.8 24
Nonfinancial business; consumer credit; asset FA143066005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25
Nonfinancial corporate business; U.S. direct investment abroad: intercompany debt (market value) FA103092305 -37.7 35.7 -11.9 -120.8 -106.8 197.7 -162.0 -139.1 -66.5 26
Nonfinancial corporate business; corporate equities; asset FA103064103 -136.2 -87.2 -331.4 -323.7 -341.6 -348.7 -146.7 -146.7 -146.7 27
Nonfinancial corporate business; U.S. direct investment abroad: equity; asset (market value) FA103092105 289.6 164.9 259.7 182.3 316.7 246.5 486.3 38.9 204.1 28
Nonfinancial business; equity in government-sponsored enterprises (GSEs); asset FA143092405 1.0 3.4 1.0 2.6 -0.5 2.3 -0.9 0.8 0.8 29
Nonfinancial corporate business; mutual fund shares; asset FA103064203 -19.8 -41.1 41.9 41.9 41.9 41.9 41.9 41.9 41.9 30
Nonfinancial business; trade receivables; asset FA143070005 605.7 360.7 118.0 487.1 8.0 451.7 599.5 546.3 388.7 31
Nonfinancial business; total miscellaneous assets FA143090005 3035.0 914.7 74.9 -179.0 561.9 722.1 87.7 763.0 -201.8 32
Nonfinancial business; total liabilities and equity FA144194005 3912.5 1730.8 853.9 414.7 1190.4 1838.0 1128.5 1726.7 1515.8 33
Nonfinancial business; total liabilities FA144190005 4369.6 2063.5 1048.4 749.1 1418.2 1754.7 1371.9 1914.5 1625.4 34
Nonfinancial corporate business; debt securities; liability FA104122005 78.8 227.8 264.1 290.7 327.0 -112.9 628.3 88.7 300.7 35
Nonfinancial corporate business; commercial paper; liability FA103169100 59.3 20.4 -21.6 -18.5 -166.3 15.6 145.9 190.7 -77.6 36
Nonfinancial corporate business; municipal securities; liability FA103162000 0.8 -1.3 13.0 29.4 20.8 -24.8 33.4 43.3 -5.2 37
Nonfinancial corporate business; corporate bonds; liability FA103163005 18.7 208.7 272.7 279.8 472.5 -103.7 449.0 -145.3 383.6 38
Nonfinancial business; loans; liability FA144123005 988.2 169.5 381.1 559.2 375.3 311.8 475.7 775.8 558.3 39
Nonfinancial business; depository institution loans n.e.c.; liability FA143168005 294.2 -22.1 44.0 147.3 -52.6 63.4 113.9 274.3 -0.6 40
Nonfinancial business; other loans and advances; liability FA143169005 239.8 -37.5 136.7 266.2 181.6 82.1 143.1 223.8 204.9 41
Nonfinancial business; total mortgages; liability FA143165005 454.2 229.1 200.5 145.8 246.3 166.2 218.7 277.7 354.0 42
Nonfinancial business; foreign direct investment in U.S.: intercompany debt; liability (market value) FA143192305 58.7 -28.1 23.4 107.4 15.9 -35.5 -6.3 15.2 -42.1 43
Nonfinancial business; trade payables; liability FA143170005 490.8 280.1 130.5 277.5 168.5 354.9 743.3 367.2 364.1 44
Nonfinancial business; taxes payable; liability FA143178005 43.2 -6.3 -0.7 -125.0 6.1 42.2 360.0 -402.4 -136.9 45
Nonfinancial business; total miscellaneous liabilities FA143190005 2709.9 1420.5 249.9 -360.7 525.4 1194.4 -829.1 1069.9 581.3 46
Nonfinancial business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability (IMA) FA143181105 -457.1 -332.7 -194.5 -334.4 -227.8 83.2 -243.4 -187.9 -109.6 47
Nonfinancial corporate business; corporate equities; liability FA103164105 -575.9 -615.6 -397.5 -525.2 -362.8 -104.3 -348.9 -402.0 -224.7 48
Nonfinancial business; foreign direct investment in U.S.; liability (market value) FA143192105 233.9 295.8 232.2 184.6 208.4 318.0 192.0 343.5 220.1 49
Nonfinancial noncorporate business; proprietors' equity in noncorporate business FA112090205 -115.1 -12.8 -29.2 6.3 -73.4 -130.5 -86.5 -129.4 -105.0 50
Nonfinancial corporate business; sector discrepancy FA107005005 -161.8 -37.0 143.9 -146.0 84.0 18.1 -158.8 616.8 842.1 51

NOTES

  1. Sum of nonfinancial corporate business and nonfinancial noncorporate business.
Last Update: January 9, 2026