Financial Accounts of the United States - Z.1
F.104 Nonfinancial Noncorporate Business
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 noncorporate business; consumption of fixed capital, structures, equipment, and intellectual property products, current cost basis (gross saving) (NIPA basis) | FA116300005 | 447.5 | 473.7 | 495.4 | 492.8 | 498.8 | 504.0 | 507.7 | 512.9 | 524.1 | 1 |
| Nonfinancial noncorporate business; gross saving less net capital transfers paid (1) | FA116000105 | 457.6 | 473.7 | 504.3 | 492.8 | 513.6 | 524.7 | 538.2 | 512.9 | 524.1 | 2 |
| Nonfinancial noncorporate business; gross saving less net capital transfers paid | FA116000105 | 457.6 | 473.7 | 504.3 | 492.8 | 513.6 | 524.7 | 538.2 | 512.9 | 524.1 | 3 |
| Nonfinancial noncorporate business; total capital expenditures | FA115050005 | 583.0 | 614.5 | 628.8 | 639.3 | 641.7 | 617.7 | 653.8 | 617.1 | 613.2 | 4 |
| Nonfinancial noncorporate business; gross fixed investment (2) | FA115019005 | 562.1 | 604.7 | 620.2 | 623.2 | 627.3 | 611.3 | 618.6 | 618.3 | 618.0 | 5 |
| Nonfinancial noncorporate business; inventories | FA115020005 | 20.9 | 9.8 | 8.6 | 16.1 | 14.4 | 6.4 | 35.2 | -1.2 | -4.7 | 6 |
| Nonfinancial noncorporate business; net lending (+) or borrowing (-) (financial account) | FA115000005 | -125.4 | -140.9 | -124.4 | -146.5 | -128.1 | -93.0 | -115.5 | -104.2 | -89.2 | 7 |
| Nonfinancial noncorporate business; total financial assets | FA114090005 | 1056.1 | 211.1 | 251.2 | 201.0 | 240.1 | 305.4 | 230.8 | 156.5 | 282.9 | 8 |
| Nonfinancial noncorporate business; checkable deposits and currency; asset | FA113020005 | 14.3 | 12.0 | 29.6 | 15.2 | 18.0 | 19.9 | 16.0 | 11.6 | 18.4 | 9 |
| Nonfinancial noncorporate business; total time and savings deposits; asset | FA113030003 | 46.1 | 35.0 | 36.5 | 30.3 | 39.4 | 45.4 | 37.5 | 23.9 | 45.2 | 10 |
| Nonfinancial noncorporate business; money market fund shares; asset | FA113034003 | 4.6 | 3.3 | 3.5 | 2.9 | 3.7 | 4.3 | 3.5 | 2.3 | 4.3 | 11 |
| Nonfinancial noncorporate business; debt securities; asset | FA114022005 | 21.5 | 0.0 | 3.2 | 2.8 | -13.1 | 16.3 | -6.2 | 0.9 | -0.8 | 12 |
| Nonfinancial noncorporate business; total U.S. government securities; asset | FA113061003 | 22.4 | 0.1 | 3.0 | 2.7 | -12.9 | 16.0 | -6.5 | 0.7 | -0.6 | 13 |
| Nonfinancial noncorporate business; municipal securities; asset | FA113062003 | -0.9 | -0.0 | 0.1 | 0.1 | -0.2 | 0.3 | 0.3 | 0.2 | -0.2 | 14 |
| Nonfinancial noncorporate business; loans; asset | FA114023005 | 2.3 | 1.3 | 1.4 | 1.1 | 1.5 | 1.7 | 1.4 | 0.9 | 1.7 | 15 |
| Nonfinancial noncorporate business; total mortgages; asset | FA113065005 | 2.3 | 1.3 | 1.4 | 1.1 | 1.5 | 1.7 | 1.4 | 0.9 | 1.7 | 16 |
| Nonfinancial noncorporate business; consumer credit; asset | FA113066003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 17 |
| Nonfinancial noncorporate business; equity in Farm Credit System; asset (3) | FA113092405 | 0.9 | 3.2 | 0.8 | 2.4 | -0.4 | 2.1 | -1.3 | 1.1 | 1.0 | 18 |
| Nonfinancial noncorporate business; trade receivables; asset | FA113070003 | 143.2 | 28.5 | 29.7 | 24.7 | 32.1 | 37.0 | 30.5 | 19.5 | 36.8 | 19 |
| Nonfinancial noncorporate business; total miscellaneous assets | FA113090005 | 823.1 | 127.7 | 146.5 | 121.6 | 158.7 | 178.6 | 149.4 | 96.3 | 176.2 | 20 |
| Nonfinancial noncorporate business; insurance receivables due from property-casualty insurance companies; asset | FA113076005 | 9.7 | 9.7 | 19.2 | 22.9 | 25.9 | 8.1 | 19.3 | 16.1 | 16.1 | 21 |
| Nonfinancial noncorporate business; Paycheck Protection Program receivables due from federal government; asset | FA113072003 | -41.6 | -1.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 22 |
| Nonfinancial noncorporate business; unidentified miscellaneous assets | FA113093005 | 855.0 | 119.9 | 127.3 | 98.8 | 132.8 | 170.6 | 130.1 | 80.2 | 160.1 | 23 |
| Nonfinancial noncorporate business; total liabilities and equity | FA114194005 | 1181.5 | 352.0 | 375.6 | 347.5 | 368.2 | 398.4 | 346.3 | 260.7 | 372.0 | 24 |
| Nonfinancial noncorporate business; total liabilities | FA114190005 | 1296.0 | 350.1 | 406.9 | 354.5 | 440.4 | 529.0 | 432.4 | 390.8 | 477.9 | 25 |
| Nonfinancial noncorporate business; loans; liability | FA114123005 | 530.9 | 164.8 | 196.6 | 179.4 | 202.5 | 251.8 | 194.0 | 236.9 | 229.8 | 26 |
| Nonfinancial noncorporate business; depository institution loans n.e.c.; liability | FA113168005 | 156.2 | -8.7 | 8.6 | 17.2 | 0.2 | 39.8 | 40.7 | 32.3 | -32.3 | 27 |
| Nonfinancial noncorporate business; other loans and advances; liability | FA113169005 | 45.4 | -3.1 | 25.5 | 40.3 | 33.6 | 35.6 | -1.2 | 11.0 | 8.0 | 28 |
| Nonfinancial noncorporate business; total mortgages; liability | FA113165005 | 329.2 | 176.7 | 162.5 | 121.9 | 168.7 | 176.4 | 154.6 | 193.6 | 254.1 | 29 |
| Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: intercompany debt; liability (market value) | FA115114305 | 0.0 | -0.6 | -0.3 | -0.6 | -0.3 | -0.5 | -0.2 | 0.0 | 0.0 | 30 |
| Nonfinancial noncorporate business; trade payables; liability | FA113170005 | 89.9 | 23.1 | 26.6 | 25.4 | 21.5 | 30.6 | 17.9 | 29.2 | 25.6 | 31 |
| Nonfinancial noncorporate business; taxes payable; liability | FA113178003 | 27.4 | 9.6 | 10.0 | 8.3 | 10.8 | 12.5 | 10.3 | 6.6 | 12.4 | 32 |
| Nonfinancial noncorporate business; unidentified miscellaneous liabilities | FA113193003 | 647.7 | 153.2 | 174.0 | 141.9 | 206.0 | 234.6 | 210.4 | 118.1 | 210.0 | 33 |
| Nonfinancial noncorporate business; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability | FA113181115 | -114.6 | 1.9 | -31.3 | -7.0 | -72.3 | -130.5 | -86.1 | -130.1 | -105.8 | 34 |
| Nonfinancial noncorporate business; foreign direct investment in U.S. real estate business: equity; liability (market value) | FA115114103 | 0.5 | 14.7 | -2.1 | -13.2 | 1.1 | -0.1 | 0.4 | -0.7 | -0.8 | 35 |
| 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 | 36 |
NOTES
- Net capital transfers paid from table F.5, line 62.
- Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 11 and 16 respectively.
- Equity in the Farm Credit System.
Last Update: January 9, 2026