S.3.a Households and nonprofit institutions serving households

Billions of dollars

Line Description Series 2018 2019 2020 2021 2022 2023 2024 2025
Current account
Line 1 Gross value added FA156902505 2539.1 2657.2 2782.9 2920.7 3192.5 3460.1 3700.2 3897.2
Line 2 Less: Consumption of fixed capital FA156300003 586.5 614.4 648.0 723.6 818.2 848.4 878.3 913.9
Line 3 Equals: Net value added FA156902605 1952.6 2042.8 2134.9 2197.1 2374.3 2611.8 2821.9 2983.2
Line 4 Compensation paid by households and NPISHs FA156025005 935.7 980.4 1015.2 1057.8 1141.1 1212.4 1297.4 1366.2
Line 5 Wages and salaries FA156020001 771.2 808.2 832.5 878.0 951.2 1014.6 1085.3
Line 6 Employers' social contributions FA156401001 164.5 172.2 182.7 179.8 189.9 197.8 212.2
Line 7 Taxes on production and imports less subsidies FA156240101 196.4 208.8 215.2 225.4 233.9 245.9 264.2 281.8
Line 8 Operating surplus, net FA156402101 820.4 853.5 904.5 913.9 999.3 1153.4 1260.3 1335.2
Line 9 Net national income/Balance of primary incomes, net FA156140005 15587.0 16298.0 16551.5 18121.8 19395.2 20633.5 21724.6 22611.8
Line 10 Operating surplus, net FA156402101 820.4 853.5 904.5 913.9 999.3 1153.4 1260.3 1335.2
Line 11 Compensation of employees (received) FA156025105 10957.4 11446.6 11598.1 12558.4 13443.4 14207.4 15027.1 15745.0
Line 12 Wages and salaries FA156020101 8899.8 9325.1 9465.3 10315.0 11122.8 11732.4 12387.9 12975.6
Line 13 Employers' social contributions FA156401101 2057.6 2121.5 2132.8 2243.4 2320.6 2475.0 2639.1 2769.4
Line 14 Property income (received) FA156150105 4424.3 4649.0 4639.8 5221.2 5596.6 6114.1 6377.5
Line 15 Interest FA156130101 1555.9 1605.0 1507.5 1474.5 1574.8 1831.4 1928.8
Line 16 Distributed income of corporations FA156120105 2868.4 3044.0 3132.3 3746.6 4021.7 4282.6 4448.7
Line 17 Dividends FA156121101 1234.9 1346.5 1399.1 1771.4 1961.7 2147.4 2218.7
Line 18 Withdrawals from income of quasi-corporations1 FA156122101 1633.5 1697.5 1733.2 1975.2 2060.0 2135.3 2230.0
Line 19 Less: Uses of property income (interest paid) FA156130001 615.1 651.1 591.0 571.7 644.0 841.4 940.3
Line 20 Net national income/Balance of primary incomes, net FA156140005 15587.0 16298.0 16551.5 18121.8 19395.2 20633.5 21724.6 22611.8
Line 21 Less: Current taxes on income, wealth, etc. (paid) FA156220001 2074.2 2198.7 2248.2 2698.0 3243.3 2835.7 2988.2 3236.6
Line 22 Plus: Social benefits (received) FA156404105 2926.0 3090.8 4187.5 4566.7 4013.0 4150.6 4455.7 4848.2
Line 23 Less: Social contributions (paid) FA156600001 1361.7 1424.8 1449.6 1559.3 1703.8 1800.6 1923.2 2021.3
Line 24 Plus: Other current transfers (received) FA156403101 50.3 56.3 47.7 93.5 126.6 106.1 99.7 106.8
Line 25 Less: Other current transfers (paid) FA156403001 196.4 206.0 195.7 227.8 264.8 261.4 279.3 291.4
Line 26 Equals: Disposable income, net FA156012095 14931.1 15615.7 16893.1 18296.9 18322.9 19992.4 21089.2 22017.5
Line 27 Less: Final consumption expenditures FA156901001 13934.4 14437.5 14231.4 16119.7 17690.0 18833.2 19896.0 20956.0
Line 28 Equals: Net saving FA156006005 996.7 1178.2 2661.8 2177.2 632.9 1159.2 1193.2 1061.5
 
Capital account
Line 29 Net saving less capital transfers FA156006315 987.3 1163.1 2658.8 2217.5 630.0 1259.4 1242.4 1067.0
Line 30 Net saving FA156006005 996.7 1178.2 2661.8 2177.2 632.9 1159.2 1193.2 1061.5
Line 31 Less: Capital transfers paid (net) FA155440005 9.4 15.1 3.0 -40.3 2.9 -100.1 -49.2 -5.5
Line 32 Capital formation, net FA155050905 309.5 307.3 346.9 453.9 400.8 331.3 381.9 379.7
Line 33 Gross fixed capital formation, excluding consumer durables FA155019005 909.8 935.5 1008.5 1191.2 1233.9 1195.8 1277.3 1312.0
Line 34 Residential FA155012005 668.4 678.0 755.9 936.2 970.9 905.0 971.3 985.9
Line 35 Nonresidential (nonprofit organizations) FA165013005 241.4 257.4 252.7 255.0 263.0 290.8 306.0 326.1
Line 36 Less: Consumption of fixed capital FA156300003 586.5 614.4 648.0 723.6 818.2 848.4 878.3 913.9
Line 37 Acquisition of nonproduced nonfinancial assets FA155420003 -13.8 -13.7 -13.6 -13.7 -15.0 -16.1 -17.1 -18.3
Line 38 Net lending (+) or borrowing (-), capital account (lines 29-32) FA155000905 677.7 855.7 2311.9 1763.6 229.2 928.1 860.6 687.2
 
Financial account
Line 39 Net lending (+) or borrowing (-) (line 38) FA155000905 677.7 855.7 2311.9 1763.6 229.2 928.1 860.6 687.2
Line 40 Net acquisition of financial assets FA154090005 1310.6 2538.1 3491.2 2834.2 1867.8 2093.1 2593.1 2171.8
Line 41 Currency and deposits FA154000005 258.6 598.4 2414.0 1751.9 -334.2 -614.3 153.6 710.0
Line 42 Currency and transferable deposits FA153020005 -174.9 23.9 1982.3 970.6 435.0 -153.3 187.4 1298.6
Line 43 Time and savings deposits FA153030005 430.7 575.8 423.8 781.5 -772.6 -460.2 -39.5 -600.3
Line 44 Other deposits FA153030505 2.9 -1.2 7.8 -0.2 3.4 -0.8 5.8 11.7
Line 45 Debt securities FA154022005 789.6 230.7 -664.5 -1246.4 1860.2 1040.1 46.7 -281.0
Line 46 Treasury securities FA153061105 591.6 164.2 -298.8 -813.2 1339.4 811.2 145.0 219.9
Line 47 Agency- and GSE-backed securities2 FA153061705 179.1 81.9 -409.6 4.1 716.5 15.6 70.2 -127.2
Line 48 Municipal securities FA153062005 -3.9 -66.2 -40.3 -100.4 45.7 94.7 93.9 101.9
Line 49 Corporate and foreign bonds FA153063005 22.9 50.7 84.2 -336.8 -241.4 118.6 -262.4 -475.6
Line 50 Loans FA154023005 -57.0 37.7 111.4 88.1 -41.1 -65.0 8.1 125.6
Line 51 Short term FA154041005 -51.1 40.1 113.2 81.9 -31.6 -64.2 11.7 131.4
Line 52 Long term (mortgages) FA153065005 -6.0 -2.4 -1.8 6.2 -9.5 -0.8 -3.5 -5.9
Line 53 Equity and investment fund shares FA153081005 -69.1 1180.5 978.4 1934.1 -184.1 1027.1 1767.3 1156.7
Line 54 Corporate equities FA153064105 -220.8 347.8 678.7 1361.5 331.1 234.3 993.0 753.3
Line 55 Mutual fund shares FA153064205 10.8 329.7 -152.2 577.8 -694.9 -209.4 3.1 -189.8
Line 56 Money market fund shares FA153034005 173.2 445.5 424.8 109.3 291.1 932.5 679.6 611.4
Line 57 Equity in noncorporate business FA152090205 -32.3 57.6 27.1 -114.5 -111.4 69.6 91.5 -18.2
Line 58 Equity investment under Public-Private Inv. Program3 FA153094305 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 59 Insurance, pension and standardized guarantee schemes FA153052005 383.0 491.9 578.2 287.1 545.6 669.5 580.9 424.4
Line 60 Insurance receivables due from property-casualty insurance companies FA153076005 17.9 12.0 21.3 40.9 61.6 46.7 58.2 48.8
Line 61 Life insurance reserves FA153040005 48.4 20.0 94.1 30.2 59.7 22.5 58.5 -10.1
Line 62 Pension entitlements4 FA153050005 282.0 430.4 439.8 180.6 378.0 557.9 430.4 351.0
Line 63 Non-life insurance reserves at life insurance companies FA153095105 20.8 15.1 14.8 13.9 7.8 12.7 8.0 -0.5
Line 64 Retiree Health Care Funds FA313195105 13.9 14.4 8.2 21.4 38.5 29.8 25.8 35.2
Line 65 Other accounts receivable FA163096005 5.5 -1.2 73.7 19.4 21.3 35.8 36.5 36.1
Line 66 Net incurrence of liabilities FA154190005 491.5 597.1 603.3 1249.0 1205.0 565.3 637.1 725.1
Line 67 Debt securities (municipals) FA163162003 -1.7 -1.5 -9.2 -0.8 -0.9 2.3 8.4 16.2
Line 68 Loans FA154123005 483.1 548.6 584.3 1220.7 1196.5 541.2 610.7 690.1
Line 69 Short term FA154141005 198.8 213.4 150.0 401.0 300.8 137.5 224.2 259.7
Line 70 Consumer credit FA153166000 172.7 185.1 -12.0 237.8 345.7 129.8 98.9 114.2
Line 71 Depository institution loans n.e.c. FA153168005 39.9 11.1 20.5 52.3 75.2 -22.9 14.2 -9.8
Line 72 Other loans and advances FA153169005 -13.8 17.1 141.5 110.9 -120.1 30.6 111.1 155.3
Line 73 Long term (mortgages) FA153165005 284.3 335.2 434.3 819.6 895.7 403.8 386.4 430.4
Line 74 Insurance, pension and standardized guarantee schemes FA543077073 1.9 1.5 0.1 1.5 -1.5 2.4 0.2 1.6
Line 75 Other accounts payable (trade debt) FA163170005 8.2 48.5 28.1 27.7 10.8 19.3 17.9 17.2
 
Addendum:
Line 76 Net lending (+) or borrowing (-), financial account (lines 40-66) FA155000005 819.1 1941.0 2887.8 1585.1 662.8 1527.8 1956.0 1446.7
 
Other changes in volume account
Line 77 Total other volume changes FV158090185 362.7 2008.2 964.2 -71.5 -580.3 1012.8 1504.0 1609.8
Line 78 Net investment in consumer durable goods FU155111005 247.9 235.8 286.6 475.9 366.7 328.4 344.6 402.5
Line 79 Disaster losses FV152010005 -15.9 13.7 13.6 -6.0 -14.2 16.1 4.0 18.3
Line 80 Other volume changes FV158090085 -10.6 673.5 88.0 -362.9 -1366.4 68.5 60.0 429.6
Line 81 Less: Statistical discrepancy (lines 38-76)5 FU157005045 -141.4 -1085.3 -575.9 178.4 -433.6 -599.7 -1095.4 -759.4
 
Revaluation account
Line 82 Nonfinancial assets FR152010005 818.7 766.6 3647.2 7639.5 2719.6 2213.3 1704.7 884.4
Line 83 Real estate FR155035005 861.5 803.5 3568.7 7122.8 2413.3 2306.3 1777.2 718.8
Line 84 Equipment FR165015205 -0.7 -1.1 7.6 17.6 26.0 16.8 12.1 20.6
Line 85 Intellectual property products FR165013765 1.7 0.3 6.6 1.4 3.6 1.4 5.3 5.1
Line 86 Consumer durable goods FR155111005 -43.9 -36.0 64.4 497.8 276.6 -111.2 -90.0 139.9
Line 87 Financial assets FR154090005 -2232.6 7767.2 7725.4 11185.9 -10659.9 7847.7 9087.4 10925.2
Line 88 Currency and deposits FR154000005 1.1 4.1 -4.6 -3.5 -3.9 -3.0 -0.0 3.8
Line 89 Debt securities FR154022005 -68.5 186.2 154.6 -109.1 -380.5 132.4 -51.0 146.4
Line 90 Corporate equities FR153064105 -1417.2 3836.7 4262.6 6035.0 -6447.1 5148.8 6192.7 7367.5
Line 91 Mutual fund shares FR153064205 -677.9 1514.4 1149.1 1296.9 -2364.4 1418.6 1241.3 1541.3
Line 92 Equity in noncorporate business FR152090205 450.8 661.0 916.9 2477.6 729.5 -463.7 158.1 195.8
Line 93 Equity investment under Public-Private Inv. Program FR153094305 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 94 Insurance, pension and standardized guarantee schemes FR153052005 -520.9 1564.7 1246.7 1489.0 -2193.4 1614.6 1546.3 1670.4
Line 95 Changes in net worth due to nominal holding gains/losses FR152090005 -1413.9 8533.8 11372.6 18825.4 -7940.3 10061.0 10792.1 11809.5
 
Changes in balance sheet account
Line 96 Change in net worth (lines 32+38+77+95) FC152090005 -63.9 11705.1 14995.6 20971.4 -7890.6 12333.2 13538.5 14486.4
 
Balance sheet account (end of period)
Line 97 Total assets FL152000005 119863.0 132199.4 147759.1 170346.6 163679.2 176573.6 190464.4 205613.3
Line 98 Nonfinancial assets LM152010005 37219.8 38519.2 42805.8 51351.8 54804.8 57671.9 60083.1 61747.4
Line 99 Real estate LM155035005 31068.8 32128.2 36018.0 43541.0 46298.0 48903.5 51014.6 52066.9
Line 100 Consumer durable goods LM155111005 5471.6 5671.3 6022.3 6996.0 7639.3 7856.6 8111.2 8653.5
Line 101 Equipment LM165015205 485.5 514.6 543.7 581.7 622.3 653.5 681.7 729.4
Line 102 Intellectual property products LM165013765 193.9 205.1 221.7 233.2 245.3 258.3 275.6 297.5
Line 103 Financial assets FL154090005 82643.1 93680.2 104953.3 118994.9 108874.3 118901.7 130381.3 143865.9
Line 104 Currency and deposits FL154000005 10465.7 11076.8 13521.0 15249.0 14915.0 14311.3 14495.0 15212.0
Line 105 Currency and transferable deposits FL153020005 1162.8 1197.2 3179.5 4142.4 4577.4 4424.1 4636.3 5934.9
Line 106 Time and savings deposits FL153030005 9261.0 9839.0 10293.0 11058.4 10286.0 9836.3 9802.1 9208.9
Line 107 Other deposits LM153030505 41.8 40.6 48.5 48.2 51.7 50.8 56.6 68.3
Line 108 Debt securities LM154022005 3991.0 4380.4 3785.8 2766.2 4511.6 5556.9 5812.9 6147.4
Line 109 Treasury securities LM153061105 1259.3 1498.8 1280.6 400.5 1659.0 2515.4 2626.3 2944.6
Line 110 Agency- and GSE-backed securities2 LM153061705 557.0 659.8 255.0 252.5 934.4 972.7 1050.4 948.1
Line 111 Municipal securities LM153062005 1982.3 2009.9 2025.1 1902.5 1719.4 1869.8 1941.1 2060.7
Line 112 Corporate and foreign bonds LM153063005 192.4 211.8 225.1 210.5 198.8 199.0 195.0 194.0
Line 113 Loans FL154023005 1224.9 1262.6 1373.9 1462.0 1420.9 1355.9 1201.2 1245.7
Line 114 Short term FL154041005 1142.5 1182.6 1295.8 1377.7 1346.2 1282.0 1130.8 1181.2
Line 115 Long term (mortgages) FL153065005 82.3 79.9 78.1 84.3 74.8 73.9 70.4 64.5
Line 116 Equity and investment fund shares FL153081005 37882.0 45537.9 52891.5 64117.0 55822.2 62955.0 71930.1 82187.7
Line 117 Corporate equities LM153064105 16647.5 21148.9 26133.0 33035.2 26903.7 32247.7 39055.0 47185.8
Line 118 Mutual fund shares LM153064205 8061.7 10052.8 11049.7 12924.3 9865.1 11084.3 12328.8 13680.2
Line 119 Money market fund shares FL153034005 1826.3 2271.8 2696.6 2805.9 3097.0 4029.5 4709.2 5320.6
Line 120 Equity in noncorporate business LM152090205 11346.5 12064.4 13012.2 15351.5 15956.4 15593.4 15837.1 16001.1
Line 121 Equity investment under Public-Private Inv. Program3 LM153094305 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 122 Insurance, pension and standardized guarantee schemes FL153052005 28814.2 31158.2 33043.0 35043.2 31825.8 34308.1 36491.1 38585.9
Line 123 Insurance receivables due from property-casualty insurance companies FL153076005 591.9 603.9 625.2 666.1 727.7 774.3 832.6 881.3
Line 124 Life insurance reserves FL153040005 1709.9 1786.2 1921.8 2000.3 1987.1 2060.5 2161.9 2201.2
Line 125 Pension entitlements4 FL153050005 25850.5 28075.5 29779.4 31623.6 28313.4 30632.1 32620.7 34591.6
Line 126 Non-life insurance reserves at life insurance companies FL153095105 360.8 377.1 393.0 408.1 414.1 427.9 436.8 437.4
Line 127 Retiree Health Care Funds FL313195105 301.0 315.4 323.6 345.1 383.6 413.4 439.1 474.3
Line 128 Other accounts receivable FL163096005 265.5 264.3 338.0 357.5 378.7 414.5 451.0 487.1
Line 129 Total liabilities and net worth FL152100005 119863.0 132199.4 147759.1 170346.6 163679.2 176573.6 190464.4 205613.3
Line 130 Liabilities FL154190005 15897.0 16528.3 17092.4 18708.5 19931.6 20492.9 20845.2 21507.7
Line 131 Debt securities (municipals) FL163162003 218.0 216.5 207.3 206.4 205.5 207.9 216.3 232.5
Line 132 Loans FL154123005 15281.4 15864.1 16409.2 17997.0 19211.6 19748.8 20074.6 20702.1
Line 133 Short term FL154141005 4904.1 5117.4 5236.3 5763.2 6064.0 6201.5 6144.6 6345.7
Line 134 Consumer credit FL153166000 4007.0 4192.2 4149.0 4512.7 4858.4 4988.2 4948.1 5106.6
Line 135 Depository institution loans n.e.c. FL153168005 339.0 350.2 370.7 423.0 498.2 475.3 347.5 234.7
Line 136 Other loans and advances FL153169005 558.0 575.1 716.6 827.5 707.3 737.9 849.1 1004.3
Line 137 Long term (mortgages) FL153165005 10377.3 10746.7 11172.9 12233.8 13147.6 13547.4 13930.0 14356.4
Line 138 Insurance, pension and standardized guarantee schemes FL543077073 35.4 36.9 37.0 38.4 37.0 39.4 39.5 41.1
Line 139 Other accounts payable (trade debt) FL163170005 362.3 410.8 439.0 466.7 477.5 496.9 514.8 532.0
Line 140 Net worth FL152090005 103966.0 115671.1 130666.7 151638.1 143747.5 156080.7 169619.2 184105.6

Notes:

  1. Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
  2. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the 2004:Q4.
  3. Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
  4. Includes variable annuities, including those in IRAs, at life insurance companies.
  5. The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

Last Update: 2026-03-19