Full text of C.9 Balance Sheets for the U. S. Economy : May 1987
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C.9 May 1987 Balance Sheets Flow of Funds Balance Sheets For the U.S. Economy 1947-86 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 Table of Contents Pages Balance sheet tables: I-5 National Net Worth 6-10 Tangible Asset Holdings II-15 Households 16-20 Farm and Nonfarm Noncorporate Business 21-25 Nonfinancial Corporate Business 26-30 Private Financial Institutions Stock-flow reconciliation tables: 31-35 All Sectors 36-40 Sector Flow Summaries 41-45 Households 46-50 Farm and Nonfarm Noncorporate Business 51-55 Nonfinancial Corporate Business 56-60 Private Financial Institutions Balance Sheets for the U.S. Economy 1947-86 The attached tables are a preliminary form of complete sector balance sheets for the private sectors of the economy, in which estimates of tangible assets and land are combined with the financial assets and liabilities that are published in the Flow of Funds Accounts to produce measures of total position and net worth. Reproducible tangible assets as shown here are from the tabulations published by the Bureau of Economic Analysis as equipment, residential structures, and inventories. Values of land holdings are Federal Reserve estimates—based mainly on data from quinquennial Censuses of Government—on real estate assessments and relations of assessments to sale prices in transactions. An important aspect of these balance sheets is that reproducibles are valued at replacement cost net of straight-line depreciation, while land holdings are stated at current market values. These valuations carry through the balance sheets to affect the measures of net worth, which are calculated as total tangible and financial assets less total liabilities, and are thus based on current values. These tables were last published in October 1986. This issue includes some revisions in the 1985 financial data, and the corporate and noncorporate business series for land holdings have been revised for 1981 through 1985. For nonfinancial corporations the balance sheet statement includes an alternative measure of tangible assets at historical cost — t h e amount actually paid to acquire tangibles whenever purchased—and the alternative measure of net worth that results from this valuation. The historical-cost estimates for reproducibles come from the same BEA calculation that produces replacement cost estimates and are thus consistent for comparison of alternative pricing methods. The BEA calculation is a perpetual-inventory procedure that consists of accumulating purchases over a long period of years and deducting depreciation and retirements according to various schedules. It is entirely independent statistically of published business balance sheet measures of fixed assets, even for historical-cost measures. Accompanying the balance sheets are parallel tables that relate changes in net worth that appear in the balance sheets to gross investment flows that are published in the Flow of Funds Accounts. Conceptually, changes in net worth for each sector should equal gross investment as published after subtracting depreciation and allowing for net flows of equity funds. Differences between the two measures arise principally from revaluation of tangible and financial assets from year to year as a result - i - of price movements. Beyond price changes, however, allowance must be made for land transactions, which are not included in Flow of Funds statements, as well as changes in land values. Further allowances are needed for statistical differences in depreciation measures and for discontinuities in source data that occur when the scope or method of measurement is changed. These adjustments appear in the individual sector stock-flow reconciliation statements included here. This publication is distributed twice a year, in approximately April and October, as the Federal Reserve Board's C.9 release. Requests to be added to the mailing list may be made by contacting Publications Services at Stop 138, Board of Governors of the Federal Reserve System, Washington, D.C. 20551 (202)452-3245. Flow of Funds Section Division of Research and Statistics Board of Governors of the Federal Reserve System Washington, D.C. 20551 (202) 452-3482 - ii - M a y 1987 N a t i o n a l Net W o r t h N a t i o n a l Net Worth C o n s o l i d a t e d D o m e s t i c Net A s s e t s with T a n g i b l e s at C u r r e n t Cost l Year-End Outstandings Year-End Outstandings 1947 1948 1090,,417 T a n g i b l e assets 1 649,,606 715,,736 748,,015 853,,070 947,,449 1000,,385 1044,,116 2 3 4 5 6 507,,348 190,,528 171,,237 79 ,877 65,,706 564,,396 210,,672 192,,256 8 5 ,122 76,,546 590,,573 223,,263 203,,761 77,,084 86,,465 675 ,833 2 4 9 ,242 226 ,903 96 ,135 103,,553 753,,049 2 7 3 ,009 251 , ,838 108,,823 119,,379 797,,219 288,,153 267,,074 108,,003 133,,989 8 3 3 ,525 300,,579 280,,890 109,,083 142,,975 8 6 4 ,790 317 ,852 2 9 3 ,079 106,,779 147,,080 R e p r o d u c i b l e assets (1) Residential structures N o n r e s . plant 8 e q u i p . Inventor!es Consumer durables 7 142,,258 151,,340 157,,442 177 ,237 194,,400 203,,166 210,,591 225,,627 Land at m a r k e t v a l u e s 8 9 2 2 ,868 12,,695 24,,399 14,,838 2 4 ,563 15 ,944 22,,820 16 ,949 22,,872 16 ,755 23,,252 17 ,374 22,,091 18,,655 21,,793 U.S. gold and S D K s 18 ,834 Net claims on foreign 892,859 987,076 1041,011 1084,862 1041 ,011 1084 ,862 D o m e s t i c net w o r t h by s e c t o r : 1151 ,044 T o t a l , all s e c t o r s 11 1245 606 1105 507 166 24 ,157 ,570 ,177 ,925 ,498 ,184 1296 ,067 635 ,044 1132,,021 310 ,171 158 ,268 28 ,538 1551 664 1245 515 228 33 P r i v a t e total, c o n s o l i d a t e d Households Sector basis - E q u i t y in n o n c o r p . bus. - C o r p o r a t e shares held (4) - P e n s i o n fund r e s e r v e s 13 14 15 16 17 11 685,,169 754 ,975 788,,522 892,,859 987,,076 12 15 14 15 16 17 894,,868 450, 689 784,,961 243,,495 99,,837 10,,942 956,,160 4 5 9 ,505 824,,787 254,,092 98 ,621 12,,571 992,,854 4 7 5 ,169 8 6 0 ,207 2 6 4 ,295 106 ,375 14,,368 1089,,595 517,,815 955 ,579 289,,754 150 ,319 17,,511 1185,,980 562,,522 1046,,498 510,,797 152 ,812 20,,567 18 19 20 149,,568 100,,995 185,,558 158,,075 105,,246 202,,512 169,,248 102 ,201 212,,785 177 ,876 120,,277 235,,955 188,,374 151,,658 259,,998 185 ,783 131 ,336 275,,610 189 ,905 129,,318 290,,740 193 ,819 151 ,282 505,,516 21 22 25 24 50,,278 24,,607 10,,942 5 ,271 52 ,826 25,,814 12,,571 5 ,559 55,,451 27,,148 14,,368 8,,065 57,,694 2 9 ,595 17,,511 9,,412 41,,448 51,,538 20,,367 10,,257 45,,858 55,,540 24,,184 11,,866 51,,060 35,,465 28,,558 12,,941 56,,056 40,,489 55,,295 17,,728 25 26 27 28 29 - 2 1 0 ,830 - 5 ,647 - 2 0 7 ,427 244 - 2 0 5 ,226 -4,,695 - 1 9 8 ,785 252 - 2 0 8 ,550 - 6 ,459 - 2 0 2 ,,356 265 - 2 0 5 ,,277 -8,,450 - 1 9 5 ,,118 291 - 1 9 9 ,,097 - 9 ,,750 - 1 8 9 ,,659 312 -206,,125 -11,,935 -194,,535 545 -214,,565 -15,,961 -200,,964 560 -225,,928 -17,,865 -206,,457 574 50 1,,151 - - 2 ,059 4,,218 (2X3) Total consolidated 1151,044 d o m e s t i c net assets 6,,521 - 2,,195 1,,979 - 5,,560 ,395 ,922 ,038 ,911 ,910 ,295 - (21(5) Nonfarm noncorp. business Farm b u s i n e s s N o n f i n a n c i a l c o r p s . (2) 12 18 19 20 P r i v a t e f i n a n c i a l l n s t s . (2) Sector basis 22 •Pension fund r e s e r v e s 23 - C o r p . e q u i t i e s held (4) 24 Public sectors: financial assets less l i a b i l i t i e s S t a t e and local g o v e r n m e n t s U.S. g o v e r n m e n t S p o n s o r e d credit a g e n c i e s Monetary authority 5,,577 U n a l l o c a t e d financial assets (1) At r e p l a c e m e n t c o s t . (2 3 Net of foreign direct i n v e s t m e n t in U.S. b u s i n e s s , but before d e d u c t i o n of foreign h o l d i n g s of U.S. publicly-issued equities. (3) E x c l u d e s U . S . h o l d i n g s of foreign e q u i t i e s . 14) Includes h o l d i n g s of foreign s h a r e s . D a t a are In m i l l i o n s of d o l l a r s . 10 25 26 27 28 29 M a y 1987 N a t i o n a l Net Worth National Net Worth C o n s o l i d a t e d Domestic Net A s s e t s with T a n g i b l e s at C u r r e n t Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1959 1 T a n g i b l e assets 1176 ,215 1283 ,929 1350 ,818 1407 ,802 1474 ,983 1532 ,701 1012 361 355 122 171 ,237 ,660 •916 ,784 ,877 1058 ,593 375 ,455 380 ,667 126 ,296 176 ,175 1091 390 392 126 181 1139 409 409 131 189 1175 425 420 135 193 2 4 2 ,497 271 ,692 2 9 2 ,225 315 ,991 335 ,597 21 ,753 19 ,532 22 , 058 22 ,993 22 ,857 26 ,992 20 ,582 29 ,444 19 ,507 29 ,583 1400 ,667 1457 ,828 1524 ,073 2 3 4 5 6 R e p r o d u c i b l e assets (1) Residential structures N o n r e s . plant Z equip. Inventories Consumer durables 933 342 319 114 157 7 Land at m a r k e t values 8 U.S. gold and S D R s 9 Net claims on foreign Total consolidated 10 d o m e s t i c net assets (2)(3) <2)(3) ,718 ,427 .963 ,008 ,315 1217 ,500 1328 ,980 ,811 * 946 ,660 ,243 ,962 ,386 ,688 ,015 ,674 ,009 1584 ,336 1645 ,909 1 1207 441 432 157 196 ,794 ,560 ,260 ,179 ,795 1254 ,753 459 ,106 449 ,563 143 ,767 202 ,317 2 3 4 5 6 357 ,202 376 ,542 391 ,156 7 17 ,804 32 ,230 16 ,947 36,,058 16 ,057 39 ,184 8 9 1582 ,735 1637 ,341 ,499 ,962 ,382 ,499 ,656 1701 ,150 10 D o m e s t i c net worth by s e c t o r : 11 T o t a l , all s e c t o r s 1217 ,500 1328 ,980 1400 ,667 1457 ,828 1524 ,073 1582 ,735 1637 ,341 1701 ,150 11 12 13 14 15 16 17 1435 ,109 705 ,670 1351,,600 326 ,977 278 455 40 ,498 1545 756 1443 345 296 45 ,867 ,170 ,638 ,748 ,041 ,679 1619 ,844 785 ,109 1453,,037 357,,928 258,,668 51,,332 1693 ,807 8 2 3 ,510 1617,,796 373,,780 360,,070 60,,436 1767 ,699 8 6 2 ,877 1700,,201 381 ,905 386,,173 69,,246 1828 ,658 902 ,661 1745 ,739 387 ,919 378 • 431 76,,728 1891,,753 938 ,581 1903,,324 398,,166 477, 928 88,,649 1964 ,749 974 ,371 1893 ,718 409 ,891 416 ,161 93,.295 202,,255 134,,110 332,,509 214 ,221 141,,427 367,,469 220,,653 147,,607 392,,232 227,,440 157, 355 407,,523 232,,862 160,,261 427,,814 237,,998 161,,205 435,,574 243,,685 166,,109 448, 328 60, 565 44,,211 40, 498 24, 144 66,,580 46,,847 45,,679 25,,946 74, 2 4 3 48, 441 51, 332 25, 5 3 0 77, 979 53,,904 60, 436 36, 361 83,,885 57,,273 69, 246 42, 634 91,,220 60,,731 76, 728 46,,239 95, 050 67, 786 88, 649 61, 385 - 2 2 4 , 500 - 2 2 , 108 - 2 0 2 , 784 392 - 2 2 3 , 566 - 2 5 , 471 - 1 9 8 , 500 405 - 2 2 6 , 398 - 2 9 , 799 - 1 9 7 , 042 443 - 2 4 2 , 308 - 3 4 , 596 - 2 0 8 , 190 478 - 2 4 9 , 018 -38, 255 - 2 1 1 , 271 508 - 2 5 0 , 281 - 4 1 ,478 - 2 0 9 . 342 539 - 2 6 0 , 090 - 4 5 , 546 - 2 1 5 , 129 585 6, 891 6, 679 7, 221 6, 329 5, 392 4, 358 5, 678 P r i v a t e total, c o n s o l i d a t e d Households S e c t o r basis - E q u i t y in n o n c o r p . bus. - C o r p o r a t e shares held (4) - P e n s i o n fund r e s e r v e s 18 19 20 Nonfarm noncorp. business Farm business N o n f I n a n c i a l c o r p s . (2) 21 22 23 24 P r i v a t e f i n a n c i a l i n s t s . (2) S e c t o r basis ^Pension fund r e s e r v e s - C o r p . e q u i t i e s held (4) 25 26 27 28 29 Public sectors: financial a s s e t s less l i a b i l i t i e s S t a t e and local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority 33 U n a l l o c a t e d f i n a n c i a l assets ( 1 ) At r e p l a c e m e n t cost. (2) Net of foreign direct investment in U.S. b u s i n e s s , but before d e d u c t i o n of foreign h o l d i n g s of U.S. publicly-issued equities. (3) E x c l u d e s U . S . h o l d i n g s of foreign e q u i t i e s . (4) Includes h o l d i n g s of foreign s h a r e s . Data are in m i l l i o n s of d o l l a r s . 12 13 14 15 16 17 250,,698 18 171,,175 19 462,,029 20 106,,476 71,,098 93,,295 57,,917 21 22 23 24 - 2 6 7 ,• 8 2 4 -48,828 - 2 1 9 , 626 640 25 26 27 28 29 4, 225 30 M a y 1987 N a t i o n a l Net W o r t h N a t i o n a l Net North C o n s o l i d a t e d D o m e s t i c Net A s s e t s with T a n g i b l e s at C u r r e n t Cost ^ Year-End Outstandings Year-End O u t s t a n d i n g s 196$ 1964 1965 1 1710 ,213 1805 ,223 1919 ,251 2 3 4 5 6 1302 ,444 471 ,540 4 6 8 ,552 149 ,551 212,,801 1376 502 494 155 223 1467 526 535 169 236 7 407,,769 8 9 15 ,596 4 2 ,078 ,025 ,050 ,943 ,319 ,713 4 2 9 ,198 ,015 ,165 ,711 ,078 ,061 4 5 2 ,236 13 ,806 5 5 ,241 15 ,471 49 ,268 1966 1967 2 0 9 4 ,634 2 2 2 7 ,247 1602 567 590 185 258 1717 596 640 197 283 ,133 ,478 ,951 ,217 ,487 ,688 ,380 ,677 ,421 ,210 1968 2 4 3 6 ,866 1903 667 709 211 314 ,065 ,831 ,247 ,770 ,217 1969 2651 ,374 2092 731 784 232 343 ,829 ,905 ,783 ,411 ,730 4 9 2 ,501 5 0 9 ,559 5 3 3 ,801 5 5 8 ,545 13 ,235 5 8 ,246 12 ,065 61 ,809 10 ,892 65,,637 11 ,859 65 ,308 1970 2 8 2 7 ,471 T a n g i b l e 2250 772 865 240 372 ,065 ,214 ,131 ,286 ,434 5 7 7 ,406 assets 1 R e p r o d u c i b l e assets CI) Residential structures N o n r e s . plant 8 e q u i p . Inventories Consumer durables Land at m a r k e t values 11 ,923 U.S. gold and S D R s 66 ,642 Net c l a i m s on foreign C2)C3) 2 3 4 5 6 7 8 9 10 1767,,887 1869 ,962 1988 ,298 2 1 6 6 ,115 2301 ,121 2513,,395 2 7 2 8 ,541 Total consolidated domestic net a s s e t s 2 9 0 6 ,036 11 1767,,887 1869 ,962 1988 ,298 2 1 6 6 ,115 2301 ,121 251$,,395 2728,,541 D o m e s t i c net w o r t h by s e c t o r : 2906,,036 T o t a l , all s e c t o r s 11 12 13 14 15 16 17 2034,,764 1014,,244 2030,,338 ,728 421 , 488,,677 105,,689 2 1 4 2 ,848 1075 , 646 2 1 6 8 ,347 436 ,918 5 3 5 ,586 120,,197 22621,377 1138 ,602 2 3 3 2 ,420 4 5 8 ,395 600 ,373 135,,050 2441 , ,781 1236 ,398 2 4 0 5 ,892 485,,392 5 4 0 ,780 143,,322 2 5 9 6 ,061 1336,,866 2678,,994 ,999 501 , 676 ,129 164,,000 2819,,290 1476,,962 3000,,525 532,,670 806,,694 184,,199 3026,,982 1587,,445 3038,,147 558,,948 698,,561 193,,193 3218,,664 1698 ,666 3169,,284 577,,158 681,,803 211,,657 P r i v a t e total, c o n s o l i d a t e d Households Sector basis - E q u i t y in n o n c o r p . bus. - C o r p o r a t e shares held C4) - P e n s i o n fund r e s e r v e s 12 13 14 15 16 17 18 19 20 256,,965 177,,165 476,,061 266 ,673 183,,059 499,,008 276,,019 196,,103 528,,273 296 .010 203,,637 568,,388 303,,378 213,,571 605,,323 323,,936 224,,445 650,,933 342,,041 233,,233 709,,661 354,,486 239,,432 763,,601 Nonfarm noncorp. business Farm b u s i n e s s N o n f i n a n c i a l c o r p s . C2) 18 19 20 21 22 23 24 110,,329 75,,285 105.,689 70,,645 118,,462 81,,814 120,,197 83,,549 123,,380 87,,106 135,,050 98,,776 137,,348 88,,427 143,,322 94,,401 136,,923 95,,221 164,,000 122,,298 143,,014 103,,956 184, 199 145, 141 154,,602 102,,440 193,,193 141,,031 162,,479 101,,183 211,,657 150,,361 P r i v a t e f i n a n c i a l i n s t s . C2) Sector basis • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held C4) 21 22 23 24 25 26 27 28 29 -271,,298 -50,,857 -221,,140 699 -278,,035 -53,,899 -224,,884 748 ,816 -281 , -56 i ,804 - 2 2 5 ,,815 803 - 2 8 7 ,,473 - 5 9 ,,267 - 2 2 9 ,,055 849 - 3 0 5 ,,667 - 6 4 ,,070 - 2 4 2 ,,488 891 -320, 242 - 6 9 , 184 - 2 5 1 , 964 906 - 3 2 3 , 781 - 7 9 , 181 - 2 4 5 , 541 941 -340, 879 -83, 855 - 2 5 7 , 982 958 30 4,,421 5,,149 - - 7,,737 - 11,,807 - 10, 727 - 14, 347 - 25, 340 " (2)C3) Public sectors: financial assets less l i a b i l i t i e s S t a t e and local g o v e r n m e n t s U.S. g o v e r n m e n t S p o n s o r e d credit a g e n c i e s Monetary authority 28, 251 U n a l l o c a t e d f i n a n c i a l assets CI) At r e p l a c e m e n t c o s t . C2) Net of foreign direct i n v e s t m e n t in U . S . b u s i n e s s , but before d e d u c t i o n of foreign h o l d i n g s of U . S . publicly-issued equities. (3) E x c l u d e s U.S. h o l d i n g s of foreign e q u i t i e s . (4) Includes h o l d i n g s of foreign s h a r e s . Data are In m i l l i o n s of d o l l a r s . 10 25 26 27 28 29 30 M a y 1987 N a t i o n a l Net W o r t h National Net North C o n s o l i d a t e d D o m e s t i c Net A s s e t s with T a n g i b l e s at C u r r e n t Cost Year-End Outstandings 1 Tangible Year-End O u t s t a n d i n g s assets R e p r o d u c i b l e a s s e t s (1) Residential structures Norires. plant & e q u i p . Inventories Consumer durables 7 Land at m a r k e t values 3078 ,595 3394 ,871 3906 ,340 4 5 7 0 ,868 4 9 7 9 »123 5 5 5 4 ,240 6317 ,385 7403 ,577 1 2 4 6 2 ,556 ,459 ? 521 2 5 7 ,845 393 ,731 2707 964 1033 285 424 3090 ,632 1109 ,890 1157 ,661 352 ,581 4 7 0 ,500 3652 ,312 1262 ,175 1422 ,612 4 2 3 ,346 5 4 4 ,179 3959 ,007 1363 ,500 157 0 ,979 4 2 8 ,829 5 9 5 ,699 4358 1532 1709 463 652 4912 1785 1895 505 725 5703 2095 2199 588 820 ,478 ,090 ,699 2 3 ,462 6 ,997 * 656 ,065 ,592 ,684 ,209 ,333 .871 , 252 ,753 ,136 ,154 ,798 ,687 ,497 616 ,039 686 ,874 8 1 5 ,708 918 ,556 1020 ,116 1196 ,031 1405 ,249 1700 ,099 7 11 ,306 56 ,739 12 ,445 5 2 ,540 13 ,818 5 7 ,184 14 ,026 5 7 ,555 13 ,934 8 4 ,833 13 ,993 104 ,462 14 ,348 8 6 ,621 13 ,229 92 ,590 8 9 3146 ,640 3459 ,856 3977 ,342 4 6 4 2 ,449 5 0 7 7 ,890 5 6 7 2 ,695 6418 ,354 D o m e s t i c net w o r t h by s e c t o r : 11 T o t a l , all s e c t o r s 3146,,640 3459 ,856 3977 ,342 4 6 4 2 ,449 5 0 7 7 ,890 5 6 7 2 ,695 6418 ,354 7509 ,396 11 12 13 14 15 16 17 3485,,999 1854,,595 3494,,836 617,,657 777,, 360 245,.224 3811 ,471 2 0 2 5 ,911 3860,,207 682 ,453 861,,669 290,,174 4 3 2 6 ,454 2 2 5 4 ,561 4019,,386 807,,427 663,,091 294,,307 5034 2544 4209 907 459 298 ,596 ,309 ,101 ,043 ,236 ,513 5536,,056 2 7 7 2 ,057 4760,,581 1000,,726 598,,011 389,,787 6183 ,331 3 0 9 7 ,908 5 3 8 7 - 673 1132 ,054 707,,541 450,,170 6970 ,006 3498 , 155 5940 ,024 1282 ,668 663 ,261 495,,940 8 0 7 9 ,959 4006 ,623 6788 ,723 1533 ,052 675 ,282 573,,766 894,,043 18 687,,106 19 2004, 093 20 8 U . S . gold and S D R s 9 Net c l a i m s on f o r e i g n Total consolidated 10 d o m e s t i c net a s s e t s (2)(3) (2)(3) Private total, consolidated Households Sector basis - E q u i t y in n o n c o r p . b u s . - C o r p o r a t e s h a r e s held (4) - P e n s i o n fund r e s e r v e s 18 19 20 Nonfarm noncorp. business Farm business N o n f i n a n c i a l c o r p s . (2) 377,,437 258,,301 833, 731 409,,767 293,,211 907,,962 462,,594 370,,788 1024,,213 533,,276 401,,900 1293,,789 573,,943 458,,906 1441,.612 639,,532 529,,594 1587,,534 742 ,029 581,,332 1750, 8 8 9 21 22 23 24 P r i v a t e f i n a n c i a l i n s t s . (2) Sector basis ^ P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held (4) 161, 935 112, 281 245, 2 2 4 195, 5 7 0 174,,620 121, 8 5 5 290,• 174 237, 409 214, 2 9 8 124, 8 1 0 294,.307 204, 8 1 9 261,,322 121,,063 298,,513 158,,254 289,.538 115, 912 389, 7 8 7 216, 161 328,,763 133,,556 450,>170 254,,963 397,,601 148,.631 495, 940 246,.970 25 26 27 28 29 Public sectors: financial assets less l i a b i l i t i e s S t a t e and l o c a l g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority 30 U n a l l o c a t e d financial assets - 3 7 4 , 341 - 9 3 , 906 -281, 488 1, 053 - 3 9 1 , 191 - 9 3 , 772 - 2 9 8 , 618 1, 199 -393, 874 - 9 0 , 610 - 3 0 4 , 724 1, 4 6 0 - 4 1 0 , 593 -95, 845 - 3 1 6 , 676 1,.928 -492- 533 - 1 0 3 , 341 - 3 9 1 , 441 2, 199 - 5 4 8 ,.322 - 1 0 1 ,.787 - 4 4 9 , 065 2, 5 3 0 - 5 8 8 , 130 - 8 5 , 973 - 5 0 5 , 042 2, 8 8 5 34, 982 39, 5 7 6 44, 762 18, 4 4 6 34, 4 1 7 37, 686 36, 478 (1) At r e p l a c e m e n t c o s t . (2) Net of f o r e i g n direct i n v e s t m e in U. S. b u s i n e s s , but b e f o r e d e d u c t i o n of foreign h o l d i n g s of U . S . publicly-issued equities. (3) E x c l u d e s U . S . h o l d i n g s of foreign e q u i t i e s . ( 4 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . D a t a are in m i l l i o n s of d o l l a r s . 7509 ,396 10 488,,094 179,.485 573,, 766 265,,157 - 6 2 3 , 669 - 8 3 •623 - 5 4 3 , 451 3, 4 0 5 12 13 14 15 16 17 21 22 23 24 25 26 27 28 29 53, 106 30 M a y 1987 N a t i o n a l Net W o r t h N a t i o n a l Net W o r t h 5 C o n s o l i d a t e d D o m e s t i c Net A s s e t s w i t h T a n g i b l e s at C u r r e n t Cost Year-End Outstandings Year-End Outstandings 1985 13205, 342 T a n g i b l e 1 8495, 282 9575, 4 3 7 10599, 8 5 0 10679, 4 4 5 11427, 791 12018, 738 12454, 050 2 3 4 5 6 6466, 612 2 4 0 7 , 398 2 4 5 9 , 108 674, 8 1 2 925. 2 9 4 7243, 127 2676, 405 2807, 427 739. 326 1019, 969 7989, 046 2928, 454 3175, 130 788, 9 8 8 1096, 4 7 4 8 1 5 5 , 359 2 8 9 3 , 937 3348, 2 7 4 771, 4 5 9 1141, 689 8 5 9 2 , 950 3112, 749 3450, 406 822, 913 1206, 8 8 2 9122, 521 3307, 652 3628, 311 8 9 4 , 142 1292, 416 9504, 5 9 8 3435, 123 3771, 757 904, 4 2 2 1393, 296 10030, 096 3706, 251 3944, 661 851, 901 1527, 2 8 3 assets R e p r o d u c i b l e a s s e t s (1) Residential structures N o n r e s . plant 8 e q u i p . Inventories Consumer durables Land at m a r k e t v a l u e s 7 2 0 2 8 , 670 2 3 3 2 , 310 2610, 8 0 4 2 5 2 4 , 086 2834,.841 2896, 2 1 7 2949, 4 5 2 3175, 2 4 6 8 9 13, 8 9 6 115, 941 13, 770 136, 769 15,,246 172,.248 16, 398 180,.115 16,.146 146,.706 16, 757 55, 8 4 3 18,.383 -36, 838 19, 459 - 1 5 2 ,.073 10 8625,.119 9725,.976 10787,,344 10875,,958 11590,,643 12091,.318 12435,.595 13072,.728 11 8625,,119 9725,,976 10787,,344 10875,,958 11590,,643 12091,,318 12435,,595 D o m e s t i c net w o r t h by s e c t o r : 13072,,728 T o t a l , all s e c t o r s 12 13 14 15 16 17 9230 4504 7820 1816 820 679 ,305 ,458 ,881 ,002 ,662 ,759 10434,,992 4991 ,548 9028 ,223 2 0 9 6 ,256 1102 ,950 8 3 7 ,469 ,850 ,800 ,852 ,835 ,721 ,496 12741,,878 6280 ,648 11216,,354 2 3 6 5 ,393 1324 ,032 1246 ,281 13473,,005 6817,,256 11849,,223 2356,,496 1328,,240 1347,,231 14025,,621 7262,,677 12873,,351 2356,,145 1665,,044 1589,,485 14876,,878 7972,,360 14049,,327 2409,,903 1866,,413 1800,,651 18 19 20 1078 ,466 793 ,049 2 2 7 3 ,469 1285 ,159 8 7 2 ,147 2 6 0 3 ,879 1538 ,964 8 0 9 ,539 2971 ,937 1626 ,490 794 ,519 3107 ,397 1713 ,457 691,,440 3 1 7 2 ,609 1788 ,567 6 1 0 ,299 3200,,432 1882,,563 567,,032 3198,,861 Nonfarm noncorp. business Farm business N o n f l n a n c i a l c o r p s . (2) 20 1163 368 1589 794 ,646 ,317 ,485 ,156 1256,,062 405,,004 1800 ,651 949 ,593 P r i v a t e f i n a n c i a l l n s t s . (2) Sector basis •Pension fund r e s e r v e s - C o r p . e q u i t i e s held (4) 21 22 23 24 11562 5534 9796 2303 1056 901 ,989 ,678 ,431 ,970 ,233 ,550 1508 ,444 8 5 5 ,404 2 8 8 9 ,799 11831 5662 10184 2291 1175 1054 ,865 ,658 ,759 ,554 682 249 837 404 ,259 ,537 ,469 ,747 774 257 901 384 ,664 ,216 ,550 ,102 848 262 1054 468 ,610 ,774 ,496 ,660 932,,824 2 8 7 ,512 1246 ,281 600 ,969 1078,,243 329 ,076 1347 ,231 5 9 8 ,064 25 26 27 28 29 - 6 5 3 ,412 - 8 8 ,707 - 5 6 8 ,666 3 ,961 -727 -97 -634 4 ,199 ,266 ,231 ,298 -794 -97 -702 4 ,726 ,509 ,013 ,796 - 9 3 3 ,047 - 9 7 ,292 - 8 4 1 ,858 6 ,103 - 1 1 2 2 ,910 - 9 4 ,504 - 1 0 3 5 ,376 6 ,970 - 1 2 9 3 ,019 - 7 6 ,423 - 1 2 2 4 ,433 7 ,837 - 1 4 9 6 ,984 - 6 7 ,156 - 1 4 3 6 ,222 6 ,394 30 4 8 ,226 19 ,081 - 2 2 ,845 - 2 8 ,325 - 8 8 ,668 - 9 3 ,042 21 22 23 24 580 211 679 310 18 ,183 -1703 -52 -1659 8 ,557 ,222 ,355 ,020 Total consolidated domestic net a s s e t s (21(3) Private total, consolidated Households Sector basis - E q u i t y in n o n c o r p . bus. - C o r p o r a t e shares held (4) - P e n s i o n fund r e s e r v e s Public sectors: financial assets less l i a b i l i t i e s S t a t e and local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority 593 Unallocated - 1 0 0 *,593 f i n a n c i a l assets CI) At r e p l a c e m e n t c o s t . (2) Net of foreign direct I n v e s t m e n t in U . S . b u s i n e s s , but before d e d u c t i o n of foreign h o l d i n g s of U . S . publicly-issued equities. (3) E x c l u d e s U.S. h o l d i n g s of foreign e q u i t i e s . (4) Includes h o l d i n g s of f o r e i g n s h a r e s . Data are In m i l l i o n s of d o l l a r s . 12 13 14 15 16 17 18 19 25 26 27 28 29 30 M a y 1987 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r Year-End Outstandings Year-End Outstandings 1947 1090, 417 422, 088 137, 453 189, 980 335, 722 5,,174 1 2 3 4 5 6 1 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. 2 3 Farm b u s i n e s s 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 649- 606 201, 3 6 5 100, 923 142: 366 201 •393 3,,059 715, 736 232, 705 104 ,081 151, 644 223, 993 3, 315 748, 015 248, 373 104, 046 162,,527 229, 668 3, 401 853, 070 294, 958 125, 4 3 0 171 ,8 1 9 259, 078 3, 785 947, 4 4 9 335,,031 136,,255 182«.539 289,,354 4,,270 1000,,385 373,,694 136, 901 179,,962 305,,376 4,,452 1044, 116 397, 8 3 7 134, 589 184, 512 322, 385 4,.793 7 Plant and equipment CI) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations 12 Financial corporations 171,,237 8 446 11,,918 24,,474 123,,675 2,,724 192, 256 9, 159 14, 536 27, 4 2 3 138, 191 2, 947 203,,761 9,,604 16, 4 6 2 28,,483 146,,192 3,,020 226,,903 11,,077 19,,007 31,,970 161,,498 3,,351 251,,838 12,,775 21,,440 35,,197 178,,656 3,,770 267,,074 15,,790 ,750 34,,122 190,,493 3,,919 280,,890 16,,502 23,,365 35, 264 201,,575 4,,184 293,,079 7 17,,577 8 9 23,,670 36,,426 10 210,,965 11 4,,441 12 13 R e s i d e n t i a l s t r u c t u r e s (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 190 101 5 15 64 3 ,528 • 844 , 186 ,191 ,375 ,932 210,,672 117, 907 5 461 16,,266 66-.819 4,,219 223,,263 122,,297 5,,266 16,,841 74,,474 4,,385 249 ,242 145,,322 5 ,683 17 ,937 75 ,575 4 ,725 273,,009 163,,819 5,,934 18 ,854 79 ,421 4,,981 288,,153 182 • 250 5 ,077 19,,121 76 ,636 5 ,069 300,,579 194,,135 5,,099 19,,151 77,,081 5,,113 317,,852 209,,632 5 ,193 19,,342 78 .479 5 ,206 13 14 15 16 17 18 79 21 10 48 ,877 . 038 . 362 ,477 85,,122 19,,304 11,,999 53,,819 109 21 14 72 106 21 14 71 ,779 ,245 ,276 ,258 19 20 21 22 19 I n v e n t o r i e s (2) 20 Farm b u s i n e s s 21 Nonfarm noncorp. business 22 Corporations 23 C o n s u m e r durables (Households) 2 4 Land at m a r k e t value 25 Households&nonprofit insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations ( 1 ) At r e p l a c e m e n t c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . 65 ,706 142 20 52 43 25 ,258 ,683 ,776 , 155 ,309 335 76 ,346 151 23 53 45 27 ,340 ,830 ,975 ,403 ,764 368 77 16 11 49 ,084 ,664 ,033 ,387 8 6 ,465 157 24 54 48 29 ,442 ,741 .079 ,537 ,704 381 96 22 13 60 ,135 ,454 ,462 ,219 103 ,553 177 29 64 50 32 ,237 ,323 ,032 ,812 ,636 434 108 24 14 69 ,823 ,908 ,215 ,700 119 ,379 194 33 71 53 36 ,400 ,124 ,053 ,706 ,017 500 108 23 13 70 ,003 ,307 ,882 ,814 ,083 ,995 ,378 ,710 133 ,989 142 ,973 203 36 71 55 39 210 39 70 57 42 ,166 ,588 ,723 ,322 ,000 533 ,591 ,128 ,078 ,789 ,987 609 147 ,080 23 2 2 5 ,627 42 ,606 73 ,196 60 ,799 48 ,293 733 24 25 26 27 28 29 7 » » m t Asstt Holdings T . n s l b l . Ass.t H o l d i n g , Distribution of T a n g i b l e A s s e t s by S e c t o r y Year-End Outstandings 1955 Year-End Outstandings 1959 1956 1960 1961 1962 1645,909 Total h o l d i n g s of t a n g i b l e s 659.496 Households&nonprofit insts. 190,936 Farm b u s i n e s s 257,071 Nonfarm noncorp. business 527,068 Nonfarm nonfinan. corps. 11,338 Financial corporations 1 2 3 4 5 6 1 2 3 4 5 6 1176, 215 460, 448 141 ,796 200, 657 367,,317 5. 997 1283, 929 504. 056 150,,158 212, 549 410,,238 6,,928 1350, 8 1 8 526. 747 157.,663 219,,296 439,,521 7,,591 1407,,802 551- 987 168, 8 4 9 225,,664 453,,142 8,,160 1474, 983 581. 117 174. 712 233, 370 476,,880 8,,904 1532. 701 611. 811 177. 182 240. 944 493.,209 9.,555 1584.,336 633,,963 183.,700 247.,608 508.,781 10.,284 7 8 9 10 11 12 319,>968 19,>639 24,,810 40,,303 230,,103 5,,113 355,,916 22,,090 25 ,902 44,,579 257,,504 5 ,841 380,,667 23,,677 26,,371 46,,993 277,,332 6,,294 392,,660 25,,029 26,,867 48,120 285 ,999 6 ,645 409,,015 26,,594 27,,487 50,,098 297,,664 7,,172 420, 382 28,,148 27,,590 51,,270 305,,767 7,,607 432,,260 30,,386 27,,960 52,,717 313,,132 8,,065 4 4 9 , 5 6 3 P l a n t and e q u i p m e n t (1) 33,032 Nonprofit institution* 28,753 Farm business 54,996 Nonfarm noncorp. business 323,884 Nonfarm nonfin. corporations 8,898 Financial corporations 7 8 9 10 11 12 13 14 15 16 17 18 342,,427 ,005 231 : 5 ,369 19 ,639 81 ,055 5 ,359 361 248 5 19 82 5 ,660 ,279 ,517 ,759 ,643 ,462 375,,455 ,335 261 , 5 ,626 19 ,610 8 3 ,342 5 ,542 390 275 5 19 84 5 ,946 ,596 ,801 ,437 ,562 ,750 409,,688 ,490 291 , 6,,035 19,,382 8 6 ,705 6,,076 425,,962 305,,663 6,,241 19,,235 88,,475 6,,348 441,,560 318,,004 6,,564 19,,186 91.,048 6,,758 4 5 9 , 1 0 6 R e s i d e n t i a l s t r u c t u r e s (1) 330,988 Households: owner-occupants 7,129 Nonprofit institutions 19,091 Farm business 94,537 Nonfarm noncorp. business 7,361 Nonfarm nonfin. corporations 13 14 15 16 17 18 19 20 21 22 114 19 15 78 ,008 ,933 ,155 ,920 122 19 15 86 ,784 ,939 ,890 ,955 126 21 16 88 ,296 ,155 ,370 ,771 126 22 16 86 ,243 ,584 ,886 ,773 131,,674 22,,060 16 ,881 92 ,733 135,,499 23,,291 16,,618 95,,590 137,,179 23,,815 15,,599 97,,765 1 4 3 , 7 6 7 I n v e n t o r i e s (2) 25,206 Farm b u s i n e s s 15,780 Nonfarm noncorp. business 102,781 Corporations 19 20 21 22 23 157 ,315 171 ,877 176 ,175 181 ,962 189 ,009 193,,656 196 ,795 202,317 Consumer durables 24 25 26 27 28 29 2 4 2 ,497 4 7 ,120 77 ,414 64 ,144 5 2 ,935 884 271 ,692 5 6 ,293 8 4 ,558 69 ,437 60 ,317 1 ,087 2 9 2 ,225 59 ,934 90 ,527 72 ,591 67 ,876 1 ,297 315 ,991 63 ,799 99 ,961 76 ,096 74 ,620 1 ,515 335 ,597 67 ,989 105 ,783 79 ,686 8 0 ,407 1 ,732 357 ,202 78,,103 107,,066 84,,581 85,,504 1,,948 376,,542 82,,214 112,,739 8 8 ,244 91,,126 2,,219 3 9 1 , 1 5 6 Land at m a r k e t value 86,030 HouseholdsSnonproflt lnsts. 117,886 Farm business 91,758 Nonfarm noncorp. business 93,042 Nonfarm nonfinan. corps. 2,440 Financial corporations (Households) 23 (1) At r e p l a c e m e n t c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . 24 25 26 27 28 29 M a y 1987 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset Holdings D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r Year-End O u t s t a n d i n g s Year-End Outstandings 2827, 471 1167, 540 279, 930 417- 227 934, 953 27, 821 1 2 3 4 5 6 1710. 213 684, 8 8 5 2 0 0 , 378 2 6 5 , 372 547, 341 12, 2 3 7 1805, 223 727, 082 208, 669 279, 761 5 7 5 , 984 13, 727 1919- 251 766, 2 6 3 225, 280 294, 8 1 0 617, 322 15, 576 2 0 9 4 , 634 8 4 4 , 294 236, 207 319, 046 677, 610 17, 4 7 7 2 2 2 7 , 247 899, 889 248, 881 352, 654 726, 638 19, 185 2 4 3 6 , 866 1002, 422 260, 969 361 ,384 789, 967 22, 124 2651, 374 1096, 434 271, 8 7 8 392. 319 865, 8 1 2 24, 931 7 P l a n t and e q u i p m e n t ( 1 ) 8 Nonprofit institutions Farm business 9 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations 12 Financial corporations 468, 5 5 2 35, 774 29, 8 8 6 57, 644 335, 633 9, 615 494, 943 38, 729 31, 107 61, 148 353, 116 10, 8 4 3 535, 711 42, 782 33,,313 66, 192 380,,964 12,,460 590, 951 47, 686 36, 105 72, 705 420, 2 6 7 14, 188 640, 677 51, 320 38, 600 77, 454 457,,368 15,,935 709, 247 57, 599 41, 8 3 8 85, 050 506, 007 18, 753 784, 783 64, 763 45, 609 94, 332 558, 739 21, 340 7 865, 131 71, 722 8 9 49, 228 104, 299 10 615, 785 11 24,,097 12 15 R e s i d e n t i a l s t r u c t u r e s (1) 14 Households: owner-occupants 15 Nonprofit Institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 4711 5 4 0 339,,884 7,,513 18 ,795 97,,334 8 ,014 502,,050 361, 593 8 ,303 19,,129 104 ,041 8 ,984 526,,165 378 • 8 1 9 9 ,034 19 ,179 109 ,329 9 ,804 567,.478 408,,411 10 .047 20,,011 118,,118 10 ,891 596 ,380 429,-580 10 ,681 20,,517 123 ,952 11 ,650 667, 831 480 332 12,,042 22,,070 139 ,706 13 ,681 731, 905 524 443 13,,167 23,,387 155 ,010 15 ,898 772,,214 551 .874 13,. 720 23,,998 165 ,106 17 ,516 13 14 15 16 17 18 19 I n v e n t o r i e s ( 2 ) 20 Farm business 21 Nonfarm noncorp. business 22 Corporations 149 25 15 108 ,319 ,452 ,089 ,778 169 ,078 28 ,043 15 ,838 125 ,197 185 27 16 141 197 27 17 152 ,770 ,138 ,624 ,008 232 ,411 31 ,815 18 ,346 182 ,250 240 ,286 31 ,076 19 , 134 190 ,076 19 20 21 22 23 C o n s u m e r 2 1 2 ,801 2 2 3 ,713 236 ,061 2 5 8 ,487 2 8 3 ,210 314 ,217 343 ,730 372 ,434 23 429 ,198 94 ,744 133 ,981 99 ,483 98 ,106 2 ,884 4 5 2 ,236 99 ,567 144 ,745 103 ,451 101 ,357 3 ,116 4 9 2 ,501 119 ,663 152 ,644 111 ,894 105 ,011 3 ,289 509 ,559 125 ,098 161 ,820 114 ,146 105 ,245 3 ,250 5 3 3 ,801 138 ,232 167 ,923 119 ,004 105 ,271 3 ,371 558 ,545 150 ,331 171 ,067 124 ,631 108 ,925 3 ,591 577 ,406 157 ,790 175 ,628 128 ,688 111 ,576 3 ,724 1 T o t a l h o l d i n g s of t a n g i b l e s Househoids&nonprofit insts. 2 3 Farm business 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations durables (Households) 2 4 Land at m a r k e t v a l u e 25 HouseholdsSnonproflt Insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations C D At r e p l a c e m e n t c o s t . (2) At y e a r - e n d p r i c e s . D a t a are in m i l l i o n s of d o l l a r s . ,551 ,743 ,129 ,679 4 0 7 ,769 8 8 ,913 125 ,954 95 ,265 95 ,015 2 ,622 155 24 15 115 ,217 ,447 ,329 ,441 ,421 ,944 ,102 ,375 211 29 17 165 24 25 26 27 28 29 M a y 1987 Tangible Asset Holdings Tangible Asset Holdings D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r g Year-End Outstandings 1971 Year-End Outstandings 1972 1975 1974 1975 1976 1977 1978 1 2 5 4 5 6 3078, 5 9 5 1278, 091 302, 190 458, 4 4 4 1008,.425 31,.445 3394,,871 1411,,761 541,,879 517,,207 1089,,252 34,,772 3906, 540 1610, 115 4 2 7 ,.321 597, 2 6 6 1231,.514 40,.124 4570,.868 1846,.295 466,,032 687,,699 1521,,038 49,,804 4979,.125 1999,,707 531,,363 741,,703 1651,,681 54,,669 5554, 240 2253, 408 611, 4 9 8 8 2 2 , 646 1805, 605 61, 085 6317,.585 2614,,292 675,,716 953,,995 2004,,344 69,,038 7405,,577 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit Insts. 3077,,067 Farm business 796,,638 Nonfarm noncorp. business 1136,,511 Nonfarm nonfinan. corps. 2311,,049 Financial corporations 82,,312 7 8 9 10 11 12 950,.521 80,,705 53,.641 115,,702 672,,937 27,,538 1033,,065 8 8 ,782 59,,034 126,,814 727,,758 50,,677 1157, 661 98,.473 66,,380 143,.735 813,.295 35,,778 1422,,612 115,,495 82,,745 172,,865 1006,,557 44,,950 1570,,979 120,,886 90,,914 184,,819 1124,,220 50,,140 1709, 871 129, 743 101, 589 197, 622 1224, 508 56, 4 0 8 1895,,798 141,,601 114,,559 219,,394 1356,,144 64,,100 7 2199,,699 P l a n t and equipment (1) 8 Nonprofit institutions 167,,725 9 Farm business 133,,912 10 Nonfarm noncorp. business 260,,593 N o n f a r m n o n f i n . c o r p o r a t i o n s 11 1560,,828 Financial corporations 12 76,,641 15 14 15 16 17 18 860,,459 614,,337 14,,936 25,,515 185,,471 20,,200 964,,656 687 ,415 16 ,802 2 7 ,165 2 1 2 ,015 21 ,261 1109,.890 791 ,.680 19,,450 29,,703 246,,015 25,,042 1262,,175 902,,948 21 ,,899 33,,620 278,,794 24,,914 1363,,500 978,,640 23,,842 35,,656 299,,525 25,,837 1532, 333 1106,. 144 26, 691 38,.804 333,.078 27,.616 1785,,154 1296,.125 50,,820 43,,801 584,,099 50,,509 15 2 0 9 5 ,090 R e s i d e n t i a l s t r u c t u r e s (1) Households: o w n e r - o c c u p a n t s 14 1527 ,137 15 Nonprofit institutions 35 ,898 16 Farm business 49,,624 Nonfarm noncorp. business 17 4 4 8 ,918 N o n f a r m n o n f i n . c o r p o r a t i o n s 18 55,,513 19 20 21 22 2 5 7 ,845 55 , 441 21,,671 2 0 0 ,735 285 44 24 217 552,,581 65,,456 27,,309 259,,816 425,,346 62 ,431 29,,600 331,,315 428,,829 64,,301 27,,281 557 ,247 23 595 ,751 4 2 4 ,684 470,,500 5 4 4 ,179 595,,699 652,,753 725,,497 24 25 26 27 28 29 616 ,039 174 ,584 187 ,595 135 ,600 114 ,555 3 ,907 686 194 211 154 122 4 815,,708 250,,012 265, 7 8 2 180,,207 155 ,561 4,,546 918,,556 261,,774 2 8 7 ,236 206,,440 158 ,252 4 ,854 1020,,116 280,,640 540 ,492 250,,078 164,,577 4,,529 1196,,051 558,,077 410,,935 264,,035 178,,509 4,,675 1405,,249 420,,249 458,,052 521,,048 200,,962 4,,958 ,592 ,299 ,014 ,279 ,874 ,078 ,581 ,566 ,954 ,095 463,.252 60,.170 27,.910 575, 172 505,,687 59,,504 29,,454 416,,929 5 8 8 ,227 I n v e n t o r i e s (2) Farm business 73,,686 Nonfarm noncorp. business 32 ,724 Corporations 481,,817 820,,462 C o n s u m e r d u r a b l e s 19 20 21 22 (Households) 25 1700,,099 L a n d at m a r k e t value HouseholdsSnonprofit insts. 5 2 5 ,845 Farm business 5 3 9 ,416 Nonfarm noncorp. business 594 ,276 Nonfarm nonfinan. corps. 2 5 4 ,891 Financial corporations 5 ,671 CI) At r e p l a c e m e n t c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . 1 2 5 4 5 6 24 25 26 27 28 29 M a y 1987 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s 10 D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r Year-End O u t s t a n d i n g s Year-End Outstandings 1979 1980 1981 1982 1983 1984 1985 12454 5101 763 2396 4030 162 ,050 ,671 ,904 ,084 ,230 ,161 1986 13205,,342 5601,,134 705,,199 2582,,425 4138,,103 178,,481 1 2 3 4 5 6 1 T o t a l h o l d i n g s of t a n g i b l e s Households&nonprofit insts. 2 Farm business 3 Nonfarm noncorp. business 4 Nonfarm nonfinan. corps. 5 Financial corporations 6 8 4 9 5 ,282 3505 ,641 925,,191 1353 ,885 2 6 1 8 ,467 92 ,098 9575 ,437 3874 ,877 1018,,530 1587 ,847 2 9 8 8 ,346 105,,837 10599 4257 1021 1837 3362 120 ,850 ,978 ,480 ,819 ,500 ,073 10679 4165 981 1898 3505 129 ,445 ,300 ,010 ,748 ,185 ,202 11427 ,791 4 6 1 4 ,510 968 ,296 2 0 6 3 ,417 3644,,811 136,,757 12018 ,738 4 8 8 9 ,393 8 6 2 ,021 2242,, 149 3875,,640 149,,535 7 Plant and e q u i p m e n t CI) Nonprofit institutions 8 Farm business 9 Nonfarm noncorp. business 10 Nonfarm nonfin. corporations 11 Financial corporations 12 2459,,108 175,,421 149 ,838 291 ,896 1755 • 579 8 6 ,374 2807,,427 193,,848 167,,397 336 ,461 2010,,371 99,,350 3175 212 181 391 2277 112 ,130 ,434 ,202 ,737 ,016 ,741 3348 217 181 420 2406 121 ,274 ,772 ,865 ,209 ,915 ,513 3450,,406 233,,395 184,,328 435,,059 2469,,044 128 ,580 3628,,311 246 ,434 183,,232 463,-710 2594,,319 140,,616 3771,,757 251 ,042 177 ,896 489,,046 2700,,764 153,,009 3944,,661 7 263,,797 8 9 172,,195 518,,390 10 2821,,424 11 168,,855 12 13 R e s i d e n t i a l s t r u c t u r e s CI) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp. business 17 Nonfarm nonfin. corporations 18 2407 1734 41 54 540 36 2676 ,405 1902 ,860 46 ,487 59 ,241 628 2 9 0 39,,527 2 9 2 8 ,454 2 0 6 2 ,051 50,,956 63 ,118 710,,350 41,,979 2 8 9 3 ,937 2 0 1 7 ,467 50 ,559 61 ,872 722 ,790 41,,249 3112,,749 2187,,547 53,,263 63,,752 765,,267 42,,920 3307,,652 2307,,488 57,,079 65 ,617 8 3 2 ,234 45,,234 3435,,123 2 3 8 0 ,511 59 ,770 65 ,440 882,,700 46 ,702 3706,,251 2589,,567 63,,432 67,,134 937,,156 48,,962 13 14 15 16 17 18 ,459 ,248 ,710 ,501 822,,913 79,,365 35,,723 707,,825 894,,142 81,,208 39,,673 773,,261 904,,422 74 ,034 41 ,867 788 ,521 851,,901 70,,147 42,,690 739,,064 19 20 21 22 1206,,882 1292,,416 1393 ,296 1527,,283 23 2834,,841 933,,423 640,,851 827,,368 425,,022 8,,177 2896,,217 985,,976 531,,964 906,,532 462,,826 8,,919 2949,,452 1017 ,052 446,,534 982 ,471 4 9 4 ,243 9 ,152 3175,,246 1157,,055 395,,723 1084,,189 528,,653 9,,626 ,398 • 013 ,359 ,431 ,884 ,711 19 I n v e n t o r i e s C2) Farm business 20 Nonfarm noncorp. business 21 Corporations 674 ,812 8 0 ,675 34 ,882 559,,255 739,,326 8 4 514 33,,996 620,,816 788 ,988 81 ,554 33,,496 673,,938 23 C o n s u m e r d u r a b l e s 925 ,294 1019,,969 1096,,474 1141,,689 2610,,804 8 3 6 ,063 695,,606 702,,236 369,,567 7,,332 2524,,086 737,,813 658,,025 722,,039 398 ,520 7 ,689 CHouseholds) 2 4 Land at market value Households&nonprofit insts. 25 Farm business 26 Nonfarm noncorp. business 27 Nonfarm nonfinan. corps. 28 Financial corporations 29 (1) At r e p l a c e m e n t c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . 2028,,670 629 ,554 640,,247 486 ,223 266,,922 5,,724 2332,,310 711,,713 707,,378 589,,100 317,,632 6,,487 771 79 33 658 24 25 26 27 28 29 M a y 1987 Households Households 11 Sector B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings 1947 Year-End Outstandings 1948 1949 Households» 1950 1951 1952 1953 1954 P e r s o n a l T r u s t s , and Nonprofit O r g a n i z a t i o n s 1 201, 8 6 5 232,,703 248,,373 294,,958 335,,031 373,,694 397,,837 4 2 2 ,088 T a n g i b l e a s s e t s 2 3 4 5 6 7 181. 182 107,,030 101, 8 4 4 5,> 186 8,.446 65,. 706 208, 8 7 3 123,,368 117, 9 0 7 5,,461 9, 159 76,,346 223,,632 127,,563 122,,297 5,,266 9,,604 86,,465 265,,635 151,,005 145,,322 5,,683 11,,077 105,-553 301,,907 169,,753 163,,819 5,,934 12,,775 119,,379 337,,106 187,,327 182,,250 5,,077 15,,790 133,,989 358,,709 199,,234 194,,135 5,,099 16,,502 142,,973 379 ,482 2 1 4 ,825 2 0 9 ,632 5 ,193 17,,577 147 ,080 8 9 10 20,.683 18,,332 2,.351 23, 8 3 0 21,,223 2,,607 24,,741 22,,013 2,,728 29 ,323 26 ,158 3,,165 33,,124 29,,487 3,,637 36,,588 32,,805 3,,783 39,,128 34,,944 4,,184 42 ,606 37 ,734 4 ,872 11 630,,114 647,,225 675,,585 737 ,417 797,,482 8 3 0 .016 845,,911 944 ,938 Total f i n a n c i a l assets 215,,572 58 1,341 59,,654 217,,513 55, 608 61,,824 220,,355 53,,738 64,,343 2 2 5 ,054 56 ,145 66 ,728 234,,626 60,,299 71,,379 247,,685 62,,349 79 >113 260,,883 63,,472 87,,262 2 7 3 ,039 65 ,218 96 ,405 57 77 155 163 250 320 316 ,018 ,244 ,552 ,538 154 102,,698 67,,351 49,,081 17,,959 311 105,,903 67,,835 49,,173 18,,404 258 109,,833 68,,494 49,,371 19,,028 95 12 13 14 15 16 102 68 49 18 322 111 66 49 16 ,094 ,941 ,966 ,874 101 R e p r o d u c i b l e assets Residential structures Owner-occupied housing Nonprofit institutions N o n p r o f i t plant 8 e q u i p . Consumer durables Land Ownei—occupied Nonprofit institutions D e p o s i t s 8 cr. m k t . i n s t r . Checkable deposits 8 curr. S m a l l time 8 s a v i n g s d e p . M o n e y m a r k e t fund shares L a r g e time d e p o s i t s C r e d i t market i n s t r u m e n t s U.S. govt, s e c u r i t i e s Savings bonds Other Treasury issues Agency issues 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 17 18 19 20 21 97,,520 67,,463 46 ,236 21,,138 89 100,,004 67 ,777 47 837 19,,722 218 102,,119 68 ,847 49,,300 19 ,388 159 22 23 24 25 6 ,946 8 ,040 73 14,,998 7,,952 7,,967 158 16,,150 8 ,643 7 ,561 205 16,,863 9 ,191 6 ,764 288 17 ,531 9,,529 6,,973 420 18,,425 11 ,543 6 ,970 466 19 ,089 13,,373 7 ,031 854 20,,081 15 ,895 6 ,162 882 21,,214 S t a t e 8 local o b i . Corporate & fgn. bonds O p e n - m a r k e t paper Mortgages 22 23 24 25 26 27 28 101,,249 1 ,412 99 ,837 100,,136 1,,515 98 ,621 109 ,445 3,,070 106,,375 133 ,663 3 ,344 130 ,319 156,,293 3,,481 152 ,812 170,,429 3,,931 166,,498 162,,414 4,,146 158,,268 2 3 5 ,019 6 ,109 228,,910 Corporate equities M u t u a l fund shares Other corporate equities 26 27 28 29 30 46 ,510 15 ,038 49 353 17 ,490 52 ,104 20 ,327 55 ,049 24 ,254 57,,777 27,,820 60,,665 32,,595 63,,647 37,,479 66 ,349 42,,654 Life i n s u r a n c e r e s e r v e s P e n s i o n fund r e s e r v e s 29 30 31 243 ,493 254,,092 264,,295 2 8 9 ,734 310,,797 307,,925 310,,171 315,,911 E q u i t y in n o n c o r p . b u s i n e s s 31 S e c u r i t y credit Miscellaneous assets 32 33 32 33 660 7 ,592 654 7,,987 702 8,,357 971 8 ,692 893 9,,276 714 10,,003 708 10,,609 34 831 ,979 879,,928 923,,958 1032 ,375 1132,,513 1203,,710 1243,,748 1 ,020 10,,946 1367,,026 T o t a l a s s e t s 35 4 7 ,018 55 ,141 63,,751 76 .996 86,,015 98,,533 111,,727 123,,988 T o t a l l i a b i l i t i e s 36 37 38 39 40 41 43 ,632 26 ,266 831 51,,908 30,,862 1,,130 60 ,144 35 ,284 1,,515 72 ,519 41 ,998 1 ,978 81,,502 4 8 ,622 2,,490 93,,669 54,,834 2,,953 106,,229 62 ,458 3,,442 117,,218 71,,144 4 ,034 7 ,092 7 ,342 9 ,514 8,,125 12 ,232 8,,589 15 ,503 10 ,100 16,,220 11,,009 20,,470 12,,038 24,,254 12,,437 24,,891 13,,252 42 43 51 2 ,050 95 2,,182 143 2,,381 369 2 ,571 396 2,,765 472 2,,902 508 3,,130 522 3,,375 44 45 1 ,831 771 1 ,547 851 1,,819 884 2 .519 951 2,,393 1,,034 2,,569 1,,133 3,,032 1,,212 4 ,131 1 ,298 46 784 835 904 1 ,007 1,,086 1,,162 1,,254 1,,341 47 784 ,961 824,,787 860,,207 955 ,379 1046,,498 1105,,177 1132,,021 48 120 ,176 139,,130 144,,310 171,,480 193,,306 2 1 5 ,055 229,,079 49 21*856 22*182 24*450 24*491 25*152 25*497 27*264 Credit market instruments Home mortgages Other mortgages Tax-exempt securities Installment cons, credit O t h e r c o n s u m e r credit Bank l o a n s n . e . c . Other loans S e c u r i t y credit T r a d e credit D e f e r r e d and unpaid l i f e insurance premiums 1243,,038 Net w o r t h 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Memo: 50 38 ,154 38 ,100 D a t a are in m i l l i o n s of d o l l a r s . 37 ,424 40 ,156 41,,867 42 ,178 4 3 ,110 247,,366 T o t a l o w n e r - o c c . real e s t a t e H o m e m o r t g a g e s as p e r c e n t of 28*760 o w n e r - o c c . real e s t a t e I n v e n t o r i e s of n o n d u r a b l e goods# 4 3 ,428 not included in t o t a l s above 48 49 50 M a y 1987 Households Households S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 1 2 Year-End O u t s t a n d i n g s Year-End Outstandings 1 Tangible assets 2 3 4 5 6 7 8 9 10 Land Owner-occupied Nonprofit institutions 11 T o t a l 12 13 14 15 16 17 18 19 20 21 financial assets D e p o s i t s 8 cr. m k t . i n s t r . Checkable deposits 8 curr. S m a l l time 8 s a v i n g s d e p . M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 22 23 24 25 State 8 local obi. Corporate 8 fgn. bonds O p e n - m a r k e t paper Mortgages 26 27 28 Corporate equities M u t u a l fund s h a r e s Other corporate equities 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 31 E q u i t y in n o n c o r p . b u s i n e s s 32 33 S e c u r i t y credit Miscellaneous assets 34 T o t a l a s s e t s 35 T o t a l l i a b i l i t i e s 36 37 38 39 40 41 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt securities Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit D e f e r r e d and unpaid life insurance premiums 4 7 Net w o r t h 4 8 T o t a l o w n e r - o c c . real e s t a t e H o m e m o r t g a g e s as p e r c e n t of 49 owner-occ. real estate I n v e n t o r i e s of n o n d u r a b l e g o o d s , 50 not i n c l u d e d in totals above D a t a are in m i l l i o n s of d o l l a r s . 5 0 4 , 056 526, 747 5 5 1 , 987 5 8 1 , 117 611, 811 633, 963 659, 496 1 4 1 3 , 328 2 3 6 , 374 2 3 1 , 005 5 , 369 19, 639 157, 315 4 4 7 , 763 2 5 3 , 796 2 4 8 , 279 5, 5 1 7 090 171, 8 7 7 466, 813 2 6 6 , 961 261, 335 5, 626 23, 677 176, 175 4 8 8 , 188 2 8 1 , 197 2 7 5 , 396 5, 8 0 1 2 5 , 029 181, 962 5 1 3 , 128 297, 525 291, 490 6, 035 26, 594 189 •009 5 3 3 , 708 311, 904 305, 663 6, 241 28, 148 193, 656 551, 749 324, 568 318, 004 6, 564 30, 386 196, 795 5 7 3 . 466 338 1 7 330 38 7, 129 33, 032 202, 317 2 3 4 5 6 7 4 7 , 120 4 1 , 581 5, 539 56, 293 49, 656 6, 637 59, 934 52, 2 6 7 7, 667 63, 799 55, 079 8 , 720 67, 989 58, 2 9 8 9, 691 78, 103 67, 246 10, 8 5 7 8 2 , 214 69, 961 12, 253 86, 030 8 9 72: 3 1 7 13,,213 10 1035, 985 1100, 905 1100, 328 1252, 932 1329, 323 1362, 049 1515, 653 1502, 350 11 290, 603 66, 115 105, 043 308, 141 67, 751 114, 4 6 8 323, 943 66, 600 126,,403 341, 117 68, 792 140, 2 8 9 367, 251 71, 641 1511,695 388,,237 73, 331 163,,372 409, 380 71, 991 181, 301 437,,808 12 71,,387 13 206,,939 14 15 1,,389 16 460, Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions N o n p r o f i t plant 8 e q u i p . Consumer durables 1| H o u s e h o l d s , P e r s o n a l T r u s t s , and N o n p r o f i t O r g a n i z a t i o n s 314 1191 131 69,,313 50, 2 2 9 18,,472 612 19,• 347 6, 8 7 2 1,, 123 22,,476 273 125,, 649 71,,070 50,,135 19,,839 1,,096 21,,499 7 ,846 1 ,175 2 4 ,059 260 227 216 578 925 130,,680 71,,707 48,,226 21,,700 1,,781 131,,809 68, 4 1 7 47,,703 19,,494 1, 2 2 0 143,,699 74,,292 45,,907 25,,437 2, 948 150, 956 73 ,843 45 ,642 25,,902 2,,299 155,,163 73 792 46, 445 25,,282 2,,065 23,,190 8 ,494 1,,292 25 ,997 24,,003 9,,673 1,,154 28,,562 28,,187 10,,238 323 30,,659 30,,802 10 ,899 1 ,986 33 ,426 321,008 10,,512 2,,189 36,,662 311,496 9 ,514 23 2 ,734 24 38 ,766 25 158 ,093 75 ,583 46 ,968 26 ,589 2,,026 17 18 19 20 21 2 8 6 ,293 7 ,838 2 7 8 ,455 305 ,087 9 ,046 2 9 6 • 041 267,,382 8 ,714 258 ,668 373,,311 13 ,241 360 ,070 401,,991 15 <,818 386 ,173 395 ,457 17 ,026 378 ,431 500 ,803 ,875 477 ,928 437 .432 26 21 ,271 27 416 ,161 28 69 ,254 5 0 ,546 72 ,724 56 ,590 75 ,462 62 ,678 78 ,535 72 ,716 81 ,956 8 2 ,410 8 5 ,184 90 ,818 8 8 ,631 103 ,655 92 ,398 29 109 ,294 30 326 ,977 345 ,748 357 ,928 373 ,780 381 ,905 387 ,919 398 ,166 409 ,891 31 1 ,137 13 ,297 1 ,192 13 ,826 1 ,226 32 14 ,301 33 1973 ,860 2 1 4 9 ,616 2161 ,846 34 899 11 ,413 882 11 ,733 894 12 ,041 1 ,156 12 ,317 989 12 ,821 1496 ,433 1604 ,961 1627 ,075 1804 ,919 1910 ,440 144 ,833 161 ,323 174 ,038 187 ,123 2 1 0 ,239 2 2 8 ,121 246 ,292 268 ,128 35 2 0 0 ,533 125 ,685 7 ,602 2 1 8 ,218 137 ,348 8 ,432 2 3 4 ,790 149 ,541 9 ,301 256 ,464 36 163 ,301 37 10 ,288 38 137 ,154 8 3 ,305 4 ,624 153 ,351 94 ,538 5 .299 166 ,172 103 ,419 6 ,041 177 ,823 112 ,880 6 ,824 30 ,269 15 ,022 33 ,171 16 ,033 35 ,443 16 ,681 35 ,339 17 ,290 41 ,123 19 ,533 4 5 ,051 19 ,956 46 ,027 21 ,495 50 ,994 40 22 ,804 41 329 3 ,605 418 3 ,892 233 4 ,355 669 4 ,821 1 ,157 5 ,433 1 ,179 6 ,252 1 ,449 6 ,977 1 ,333 42 7 ,744 43 4 ,816 1 ,381 4 ,773 1 ,530 4 ,365 1 ,658 5 ,522 1 ,809 5 ,536 1 ,983 5 ,398 2 ,126 6 ,736 2 ,254 6 ,610 44 2 ,387 45 1 ,482 1 ,669 1 ,843 1 ,969 2 ,187 2 ,379 2 ,512 2 ,667 46 1351 ,600 1443 ,638 1453 ,037 1617 ,796 1700 ,201 1745 ,739 1903 ,324 1893 ,718 47 272,586 297,935 313,602 330,475 349,788 372,909 387,965 403,805 48 30*560 31*731 32+977 34*156 35*931 36*831 38*544 4 0 * 4 4 0 49 45,148 51,268 54,275 May 1987 Households Households Sector Balance Sheets with Tangible Assets at Current Cost 13 Year-End Outstandings Year-End Outstandings 1965 1966 1967 1970 1968 Households, Personal Trusts, and Nonprofit Organizations 1 684,885 727,082 766,263 844,294 1167,540 Tangible assets 899,889 1009, 750 565, 594 551, 874 13, 720 71, 722 372, 434 2 3 4 5 6 7 595.972 347,397 339,884 7,513 35,774 212,801 632,338 369,896 361,593 8,303 38,729 223,713 666,696 387,853 378,819 9,034 42,782 236,061 724,631 418,458 408,411 10,047 47,686 258,487 774,791 440,261 429,580 10,681 51 ,320 283,210 864, 190 492, 374 480, 332 12, 042 57, 599 314, 217 946, 103 537, 610 524, 443 13. 167 64 ,763 343. 730 8 9 10 88,913 74,774 14,139 94,744 79,550 15,194 99,567 83,340 16,227 119,663 102,103 17,560 125.098 107,395 17,703 138, 232 120, 083 18, 149 150, 331 131, 111 19, 220 157, 790 137, 968 19. 822 11 1643,099 1768,643 1924,789 1944,498 2187,565 2443, 286 2419, 067 2502, 686 471,944 75,956 232,356 509,987 81,284 257,688 550,635 88,744 284,828 587,699 91,130 302,913 638,512 101,013 337,313 695, 855 111,,930 364,,045 741, 285 109, 368 378,,730 796, 325 118,,185 408, 894 2,172 2,897 3,562 4,485 5,218 9,,463 3,,973 17,,422 210,,417 93,,807 ,866 51 , 33 ,027 8 ,914 249,,214 110,,378 51,,770 44,,091 14,,517 251,,824 105,,791 52,,089 32,,782 20,,920 12 13 14 15 16 17 18 19 20 21 161,460 75,712 48,149 25,765 1,798 168,118 77,831 49,060 26,112 2,659 173,501 79,708 49,695 26,317 3,696 189,171 86,983 50,249 28,596 8,138 194,968 88,117 51,219 28,789 8,109 22 23 24 25 31,986 9,541 3,971 40,250 34,627 9,037 4,876 41,747 36,412 9,519 5,676 42,186 40,443 10,851 6,703 44,191 38,118 15,108 7,636 45,989 37 ,577 20 ,437 10 ,148 48 ,448 26 27 28 513,891 25,214 488,677 564,702 29,116 535,586 635,593 35,220 600,373 575,609 34,829 540,780 720,436 44,307 676,129 8 5 7 ,926 51 ,232 806 ,694 29 30 96,635 122,849 101,051 138,606 105,876 154,774 110,570 164,299 115,535 186,292 31 421,728 436,918 458,395 485,392 Land Owner-occupied Nonprofit institutions 8 9 10 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 12 13 14 15 16 Credit market instruments . 17 U.S. govt, securities 18 Savings bonds 19 Other Treasury issues 20 Agency issues 21 State 8 local obi. Corporate 8 fgn. bonds Open-market paper Mortgages 22 23 24 25 746 .148 47 ,587 698 ,561 728 ,614 46 ,811 681 ,803 Corporate equities Mutual fund shares Other corporate equities 26 27 28 120 ,324 207 ,827 125 ,362 218 ,340 130 ,703 239 ,185 Life insurance reserves Pension fund reserves 29 30 501,999 532 ,670 558 ,948 577 ,158 Equity In noncorp. business 31 5 ,221 23 ,763 4 ,354 26 ,347 Security credit Miscellaneous assets 32 33 ,871 ,494 ,502 .969 46 36 11 52 32 33 1,222 14,830 1,669 15,710 2,533 16,983 2,730 18,199 4,943 19,848 34 2327,984 2495,725 2691,052 2788,792 3087,454 3445 ,708 3515 ,501 3670 ,226 35 297,646 327,378 358,632 382,900 408,460 445 ,183 477 ,354 500 ,942 455,731 276,225 17,884 480,055 290,047 19,042 36 37 38 39 40 41 283,639 179,864 11,257 313,151 197,315 12,258 343,200 214,287 13,396 367,059 228,453 14,562 388,141 240,744 15,626 421,121 257,666 16,701 57,829 24,836 65,572 26,875 73,881 29,173 79,339 30,250 83,148 32,114 91,681 35,094 101,161 36,499 105,528 37,595 42 43 1,446 8,407 1,976 9,155 2,493 9,970 2,514 11,941 3,247 13,262 4,664 15,315 5,663 18,299 6,943 20,900 44 45 8,567 2,587 8,362 2,826 9,098 3,031 9,025 3,157 12,709 3,663 15,627 4,133 12,225 4,710 10,445 5,324 46 2,853 3,039 3,303 3,659 3,947 47 2030,338 2168,347 2332,420 2405,892 2678,994 48 414,658 441,143 462,159 510,514 536,975 600,415 655,554 43*376 44*728 46*366 44*749 44*633 42.914 42*136 79,139 2 3 4 5 6 7 ,019 ,164 ,753 ,097 46 25 15 50 7 ,039 21 ,645 Data are in millions of dollars. Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 5,118 3038,147 otal liabilities Credit market instruments Home mortgages Other mortgages Tax-exempt securities Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 3169,284 Net worth 689,842 Total owner-occ. real estate Home mortgages as percent of 42*045 owner-occ. real estate Inventories of nondurable goods, 96,649 not included in totals above 35 36 37 38 39 40 41 42 43 44 45 46 May 1987 Households Households Sector Balance S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 14 Yeai—End O u t s t a n d i n g s Year-End O u t s t a n d i n g s 1972 1973 1974 1975 1976 H o u s e h o l d s , P e r s o n a l T r u s t s , and N o n p r o f i t O r g a n i z a t i o n s 1 T a n g i b l e assets 2 3 4 5 6 7 8 9 10 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 equip. C o n s u m e r durables Land Owner-occupied Nonprofit i n s t i t u t i o n s 11 Total f i n a n c i a l assets 12 13 14 15 16 17 18 19 20 21 D e p o s i t s 8 cr. m k t . i n s t r . C h e c k a b l e deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market i n s t r u m e n t s U.S. govt, s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y issues A g e n c y issues 1411, 761 1610, 115 1846, 295 1999, 707 2 2 5 3 , 408 2614, 292 3077, 067 1 1103, 707 629, 273 614, 337 14, 936 703 393, 751 1217, 683 704, 2 1 7 687, 415 16, 8 0 2 8 8 , 782 4 2 4 , 684 1380, 103 8 1 1 , 130 791, 680 19, 4 5 0 98, 473 470, 5 0 0 1584, 521 924, 8 4 7 902, 948 21, 8 9 9 115, 495 5 4 4 , 179 1719, 067 1002, 4 8 2 978, 640 23, 842 120, 8 8 6 5 9 5 , 699 1915, 331 1132, 8 3 5 1106, 144 26, 691 129, 743 652, 753 2194, 043 1326, 945 1296, 125 30, 8 2 0 141, 601 725, 497 2551, 222 1563, 035 1527, 137 35, 8 9 8 167, 725 820, 462 2 3 4 5 6 7 174, 384 153, 584 20, 800 194, 078 171, 8 5 4 224 230, 012 205, 8 3 7 24, 175 261, 774 2 3 4 , 766 27, 008 2 8 0 , 640 2 5 4 , 446 26, 194 338, 077 309, 720 28, 357 420, 249 388, 8 3 7 31, 412 8 525, 8 4 5 9 488, 684 37, 161 10 2 7 6 5 , 663 3064, 645 3099, 162 3104, 004 3552, 2 4 2 4 0 2 2 , 097 4354, 424 4909, 604 11 8 6 9 , 013 130, 3 78 476, 325 957, 788 142, 379 545, 314 1061, 935 155, 4 3 0 585. 349 1267, 2 8 5 167, 566 719, 5 8 2 3, 696 44,,489 1411, 811 183, 603 8 3 5 , 792 3, 686 35, 886 1571, 129 202, 382 930, 932 3, 8 8 7 46, 141 1758, 356 230, 628 998, 210 10, 808 78, 023 12 13 14 15 16 1278, 091 17, 687 22, 455 45, 8 1 4 1166, 731 161, 750 622, 613 2, 379 64, 658 244, 623 93 ,480 54,.416 22,,078 16,,986 247, 640 92,,131 57, 667 21, 504 12,,960 2751 342 105, 755 60,,354 31,,656 13,,745 315, 331 118, 577 63,,338 38,,348 16,,891 331,,952 130,,653 67,,363 51,,111 12,,179 352, 8 4 4 135,,664 72- 018 52,,041 11,,605 387,,787 150, 725 76,,762 59,,691 14,,272 440, 687 180, 078 80,,691 77,,527 21,,860 17 18 19 20 21 71,,194 72,,170 34,,321 82,,924 22 23 24 25 22 23 24 25 S t a t e 8 local obi. C o r p o r a t e 8 fgn. bonds O p e n - m a r k e t paper Mortgages 46,,116 46 ,529 7 ,939 50,,559 48,,373 50,,062 4 ,515 52 ,559 53,,658 51,,746 12,,338 51,,845 61,,860 59,,070 20,,510 55,,314 68 ,061 65,,935 8 ,921 58,,382 70,,070 76,,395 6,,968 63,,747 68,,604 76 ,416 20 ,490 71 ,552 26 27 28 Corporate equities Mutual fund shares Other corporate equities 8 3 2 ,806 55 ,446 777 ,360 920 ,595 58 ,926 861 ,669 709 ,726 46 ,635 663 ,091 494 ,387 35 ,151 459 ,236 641 ,045 43 ,034 5 9 8 ,011 754 ,051 46 ,510 707 ,541 708 ,752 45 ,491 663 ,261 721 ,332 26 46 ,050 27 675 ,282 28 29 30 Life insurance r e s e r v e s Pension fund reserves 137 • 055 2 7 5 ,595 143 ,930 323 ,538 151 ,278 329 ,806 158 ,399 336 ,751 166 ,483 431 ,683 175 ,268 496 ,619 184 ,802 548 ,817 195 ,992 29 633 ,544 30 31 E q u i t y in n o n c o r p . b u s i n e s s 617 ,657 682 ,453 8 0 7 ,427 907 ,043 1000 ,726 1132 ,054 1282 ,668 1533 ,052 31 32 33 S e c u r i t y credit M i s c e l l a n e o u s assets 4 ,886 28 ,651 5 ,022 31 ,319 4 ,866 34 ,124 3 ,891 36 ,802 4 ,468 4 0 ,552 6 ,290 46 ,004 5 ,313 5 2 ,943 7 ,784 32 59 ,544 33 4 0 4 3 ,754 4 4 7 6 ,406 4709 ,277 4 9 5 0 ,299 5551 ,949 6275 ,505 6968 ,716 7986 ,671 34 1028 ,692 1197 ,948 35 34 Total a s s e t s 35 Total l i a b i l i t i e s 5 4 8 ,918 616 ,199 689 ,891 741 ,198 791 ,368 8 8 7 ,832 36 37 38 39 40 41 5 2 4 ,395 314 ,761 2 0 ,251 586 ,050 353 ,027 21 ,547 118 ,255 39 ,642 133 ,173 44 ,570 663 ,"069 396 ,811 22 ,640 400 155 ,108 48 ,357 714 ,467 431 ,433 23 ,736 1 ,300 164 ,594 4 8 ,769 762 ,155 4 6 9 ,666 2 4 ,775 2 ,700 168 ,703 5 0 ,908 8 5 1 ,730 5 2 9 ,438 2 5 ,623 4 ,700 188 ,698 5 5 ,161 9 ,213 2 2 ,273 10 ,125 23 ,608 13 ,579 26 ,174 15 ,251 29 ,384 13 ,859 31 ,544 14 ,724 33 ,386 17 ,491 35 ,716 19 ,992 42 39 ,524 43 13 , 109 5 ,978 17 ,537 6 ,636 13 ,193 7 ,253 11 ,387 8 ,258 12 ,113 9 ,356 17 ,201 10 ,526 18 ,494 11 ,684 19 ,698 44 13 ,201 45 5 ,436 5 ,976 6 ,376 7 ,086 7 ,744 8 ,375 9 ,284 10 ,349 46 34 94 ,836 3860 ,207 4019 ,386 4209 ,101 4 7 6 0 ,581 5 3 8 7 ,673 5940 ,024 6788 ,723 47 767,921 859,269 997,517 1137,714 1233,086 1415,864 1684,962 2015,821 48 37.393 36*747 36*098 49 164,441 182,465 50 42 43 44 45 46 Credit market i n s t r u m e n t s Home m o r t g a g e s Other m o r t g a g e s Tax-exempt securities Installment cons, credit Other consumer credit Bank loans n . e . c . Other loans S e c u r i t y credit Trade credit Deferred and unpaid life insurance p r e m i u m s 47 Net worth 48 Total o w n e r - o c c . real estate Home m o r t g a g e s as percent of 49 o w n e r - o c c . real estate 50 Inventories of n o n d u r a b l e g o o d s , not included in totals above Data are in m i l l i o n s of d o l l a r s . 40#988 41*084 39*779 37*921 38*088 100,890 108,952 121,757 134,613 140,317 989 619 26 8 223 58 ,230 ,185 ,730 ,100 ,669 ,339 1154 ,700 727 , 675 28 ,056 10 ,700 264 ,712 64 ,041 36 37 38 39 40 41 Households May 1987 Households 15 S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End Outstandings 1985 1983 Households, Personal Trusts, 1 2 3 4 5 6 7 3505,641 2876,087 1775,372 1734,013 41,359 175,421 925,294 3874,877 3163,164 1949,347 1902,860 46,487 193,848 1019,969 4257,978 4165,300 and Nonprofit O r g a n i z a t i o n s 4614,510 4889,393 5101,671 5601,154 Tangible 4444,079 2652,999 2589,567 63,432 263,797 1527,283 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 e q u i p . Consumer durables 1157,055 1087,618 69,437 Land Owner-occupied Nonprofit institutions 3421,915 2113,007 2062,051 50,956 212,434 1096,474 3427,487 2068,026 2017,467 50,559 217,772 1141,689 3681,087 2240,810 2187,547 53,263 233,395 1206,882 3903,417 2364,567 2307,488 57,079 246,434 1292,416 4084,619 2440,281 2380,511 59,770 251,042 1393,296 933,423 875,019 58,404 985,976 922,995 62,981 1017,052 952,204 64,848 8527,107 9117,302 10234,577 assets 2 3 4 5 6 7 8 8 9 10 629,554 589,564 39,990 711,713 666,001 45,712 836,065 783,579 52,484 737,813 685,939 51,874 11 5691,585 6662,213 7176,238 7746,325 12 13 14 15 16 1972,659 256,194 1059,472 45,214 89,541 2181,736 273,429 1142,124 74,443 133,127 2447,423 303.378 1189,395 181 ,910 152,085 2701.836 322,628 1323,588 206,607 137,399 2989,104 362,094 1533,553 162,549 126,083 3421,224 380,911 1686,792 209,732 197,472 3784,162 425,880 1829,673 207,535 194,608 4035,100 529,004 1943,111 228,383 188,438 17 18 19 20 21 522,238 231,766 79,876 106,077 45,813 558,608 258,419 72,528 133,087 52,804 620,655 303,803 68,190 171,415 64,198 711 ,614 360,440 68,346 222,896 69,198 804,825 420,975 71,485 286,462 63,028 946,317 531,778 74,515 358,238 99,025 1126,466 589,882 79,777 347,908 162,197 1146,164 589,609 93,332 280,595 215,682 22 23 24 25 81,690 67,852 41,659 99,271 88,335 56,171 39.273 116,410 99,900 52,324 30,714 133,914 123,888 54,807 27,696 144.783 161,688 41,919 35,109 145,134 190,249 38,497 34,649 151,144 249,634 52,363 82,402 152,185 251,234 63,882 84,820 156,619 S t a t e 8 local o b i . C o r p o r a t e 8 fgn. b o n d s O p e n - m a r k e t paper Mortgages 22 23 24 25 26 27 28 872,451 51,789 820,662 1166,695 63,745 1102,950 1120,250 64,017 1056,233 1265,730 90,009 1175,721 1454,180 130,148 1324,032 1490,698 162,458 1328,240 1948,031 282,987 1665,044 2351,488 485,075 1866,413 Corporate equities M u t u a l fund shares Other corporate equities 26 27 28 29 30 206,692 747,435 216,427 913,892 225,627 987,757 232,799 1152,429 240,792 1358,281 245,994 1477,181 256,711 1738,263 266,951 1970,206 Life insurance r e s e r v e s P e n s i o n fund r e s e r v e s 29 30 31 1816,002 2096,256 2303,970 2291,835 2365,393 2356,496 2356,145 2409,903 E q u i t y in n o n c o r p . b u s i n e s s 31 30,598 120,667 35,823 135,873 S e c u r i t y credit Miscellaneous assets 32 33 11205,344 Total f i n a n c i a l assets D e p o s i t s 8 cr. m k t . i n s t r . C h e c k a b l e d e p o s i t s 8 curr. S m a l l time 8 s a v i n g s d e p . M o n e y m a r k e t fund shares L a r g e time deposits Credit market instruments U . S . govt, s e c u r i t i e s S a v i n g s bonds O t h e r T r e a s u r y issues A g e n c y issues 32 33 9,613 66,733 14,833 72,374 12,705 78,506 16,400 85,296 18,782 100,575 18,143 107,566 34 9197,226 10537,090 11434,216 11911,625 13141,617 14006,695 15336,248 35 1376,345 1508,867 1637,785 1726,773 1925,263 2157,472 2462,897 2757,151 Total liabilities 2657,537 1646,800 46,124 81,041 603,230 131,190 36 37 38 39 40 41 1329,045 846,880 29,559 13,600 300,313 71,102 1451,551 943,261 31,486 16,700 301,380 74,521 1577,722 1023,047 33,781 21,100 318,230 80,267 1659,757 1064,556 36,428 29,600 334,959 83,094 1847,481 1174,704 38,917 41,000 383,813 91,035 2082,004 1303,411 41,368 51,171 460,822 109,047 42 43 21.673 45,918 29,469 54,734 35,507 65,790 37,882 73,238 41,503 76.509 36,742 79,443 44,838 83,278 60,479 88,673 44 45 20,732 14,876 27,219 17,158 25,518 19,823 29,281 37,699 23,984 34,595 25,765 51,302 27,974 54,091 30,523 46 11,692 12,939 14,722 15,000 16,099 9796,431 10184,852 11216,354 11849,223 12873,351 2845,630 2703,406 3062,566 3230,483 3332,715 35*951 39*378 38*356 40*347 43*507 11 12 13 14 15 16 17 18 19 20 21 16806,478 Total assets 2369,711 1449,996 43,770 81,334 543,223 123,272 22,220 9 10 Credit market instruments Home mortgages Other mortgages Tax-exempt securities I n s t a l l m e n t cons, credit O t h e r c o n s u m e r credit Bank loans n.e.c. O t h e r loans S e c u r i t y credit T r a d e credit D e f e r r e d and unpaid life insurance premiums 36 37 38 39 40 41 42 43 44 45 1 4 0 4 9 , 3 2 7 Net w o r t h Memo: 48 2323,577 2568,861 49 36.447 36*719 218,426 235,405 Data are in m i l l i o n s of d o l l a r s . 246,446 3 6 7 7 , 1 8 5 T o t a l o w n e r - o c c . real estate H o m e m o r t g a g e s as percent of 44*784 o w n e r - o c c . real estate I n v e n t o r i e s of n o n d u r a b l e goods, 319,665 not i n c l u d e d in totals above 48 49 50 M a y 1987 Farm B u s i n e s s ^ ^ Farm Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1947 1948 1949 1950 1951 1952 1953 1954 Farm Business 1 Tangible assets 100, 923 104, 081 104, 046 123, 4 3 0 136, 2 5 5 136, 901 134, 589 137, 4 5 3 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 4 8 , 147 15, 191 11, 918 2 1 , 038 5 0 , 106 16, 266 14, 536 19, 304 49, 967 16, 8 4 1 16. 4 6 2 16, 664 5 9 , 398 17, 937 19, 007 22, 454 65, 2 0 2 18, 8 5 4 21, 4 4 0 2 4 , 908 65, 178 19, 121 2 2 , 750 23, 307 64, 511 19, 151 2 3 , 365 21, 995 64, 257 19, 342 23, 670 21, 245 2 3 4 5 6 Land 5 2 , 776 5 3 , 975 54, 079 64, 032 71, 053 71, 723 70, 078 73, 196 6 8 , 369 8 , 459 8 , 035 8 , 068 8 , 327 8 , 314 8 , 291 8, 264 7 7, 5 0 0 869 753 116 7, 500 959 844 115 7, 000 1, 035 918 117 7, 000 1, 068 949 119 7, 200 1, 127 1 -005 122 7, 100 1, 214 1, 088 126 7, 000 1, 291 1, 159 132 6, 900 8 9 1, 364 10 1, 137 11 109, 2 9 2 112, 5 4 0 112, 081 131, 4 9 8 144, 5 8 2 145, 215 142, 8 8 0 145, 717 12 7 Total 8 9 10 11 financial assets Demand deposits & currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 12 T o t a l a s s e t s 13 T o t a l l i a b i l i t i e s 14 15 16 17 18 19 Credit m a r k e t i n s t r u m e n t s Mortgages Bank loans n.e.c. Other loans U.S. g o v e r n m e n t Fed. Inter. Credit Banks 20 T r a d e debt 21 Net w o r t h Corporate farms 22 N o n c o r p o r a t e farms 23 8, 2 9 7 9, 294 9, 8 8 0 11,,221 12, 944 13, 8 7 9 13,,562 14,,435 13 7, 4 2 4 5, 064 1, 5 9 3 767 283 484 8, 082 5 ,288 1,,946 848 243 605 8, 4 7 4 5, 5 7 9 21,049 846 228 618 9, 5 3 2 6,,071 21,524 937 244 693 10, 8 1 9 6,-651 3, 120 1,,048 199 849 11, 609 7,,236 3,,293 1.,080 213 867 11,,509 7,,757 2 ,712 1,,060 445 615 12 281 8,,246 2,,862 1 ,173 508 665 873 1 ,212 1,,406 1,,689 2,,125 2,,270 2,,053 2 ,l r 4 20 100,,995 7,,070 93 ,925 103 ,246 7 ,227 96 ,019 102,,201 7 ,154 95 ,047 120,,277 8,,419 111 ,858 131,,638 9 ,215 122 ,423 131,,336 9,,194 122,,142 129 ,318 9 ,052 120 ,266 131 ,282 21 9 ,190 22 122 ,092 23 179 ,962 184 ,512 189 ,980 1 ,640 ,636 ,122 ,882 126 ,723 77 ,081 35 ,264 14 ,378 129 ,181 78 ,479 36 ,426 14 ,276 2 3 4 5 14 15 16 17 18 19 Nonfarm Noncorporate Business 1 Tangible assets 142 ,366 151 ,644 162 ,527 106 66 27 11 113 74 28 11 ,990 ,474 ,483 ,033 171 ,819 182 ,539 128 79 35 14 ,833 ,421 ,197 ,215 124 76 34 13 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 99 ,211 64 ,375 24 ,474 10 ,362 6 Land 43 ,155 45 ,403 48 ,537 5 0 ,812 5 3 ,706 55 ,322 5 7 ,789 60 ,799 6 15 ,408 16 ,082 16 ,978 18 ,249 19 ,208 19 ,877 20 ,311 21 ,276 7 10 ,101 4 ,237 1 ,070 1 ,060 10 9 ,949 4 ,930 1 ,203 1 ,190 13 10 ,315 5 ,360 1 ,303 1 ,289 14 10 ,538 6 ,318 1 ,393 1 ,378 15 10 ,777 6 ,887 1 ,544 1 ,527 17 10 ,429 7 ,700 1 ,748 1 ,730 18 10 ,377 7 ,996 1 ,938 1 ,919 19 10 ,907 8 8 ,236 9 2 .133 10 2 ,113 11 20 12 157 ,774 167 ,726 179 ,505 190 ,068 201 ,747 199 ,839 2 0 4 ,823 211 ,256 13 8 ,206 9 ,653 10 ,257 12 ,192 13 ,373 14 ,056 14 ,918 17 ,437 14 9 ,688 5 ,070 872 3 ,275 923 10 ,477 5 ,810 1 ,093 3 ,713 1 ,004 11 ,002 6 ,361 1 ,031 4 ,297 1 ,033 13 ,023 7 ,511 1 ,428 5 ,034 1 ,049 14 ,270 8 ,167 1 ,364 5 ,705 1 ,098 15 ,350 8 ,857 1 ,587 6 ,128 1 ,142 15 ,882 9 ,207 1 ,547 6,451 1 ,209 16 ,734 9 ,923 1 ,872 6 ,726 1 ,325 1 ,322 3 ,296 1 ,066 3 ,601 833 3 ,808 1 ,278 4 ,234 1 ,508 4 ,595 1 ,721 4 ,772 1 ,782 4 ,893 1 ,866 20 4 ,945 21 - 1 ,482 4 ,382 5 ,864 -824 5 ,110 5 ,934 -745 5 ,250 5 ,995 -831 6 ,260 7 ,091 -897 6 ,077 6 ,974 - 1 ,294 6 ,544 7 ,838 -964 7 ,269 8 ,233 703 22 8 ,877 23 8 ,174 24 149 ,568 158 ,073 169 ,248 177 ,876 188 ,374 185 ,783 189 ,905 193 ,819 25 7 Total financial assets 8 9 10 11 12 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 13 T o t a l a s s e t s 14 T o t a l l i a b i l i t i e s 15 16 17 18 19 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial Bank loans n.e.c. Other loans T r a d e d e b t , net T r a d e debt - T r a d e credit 25 Net w o r t h Data are in m i l l i o n s of d o l l a r s . ,241 ,819 ,423 ,999 121 75 31 13 ,007 ,575 ,970 ,462 2 3 4 5 15 16 17 18 19 M a y 1987 Farm Business Farm Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 1 7 Year-End Outstandings 1955 Year-End Outstandings 1956 1957 1958 1959 1960 1961 1962 Farm Business 1 141 ,796 150 ,158 157 ,663 168 ,849 190 ,956 70 ,961 19 ,186 2 7 ,960 2 3 ,815 73 ,050 19 ,091 2 8 ,753 2 5 ,206 105 ,783 107 ,066 1 1 2 ,739 117 ,886 7 ,982 7 ,646 7 ,731 7 ,865 6,,900 1,,684 1,,502 182 6 ,200 1,,782 1 ,584 198 5 ,800 1 ,846 1,,655 211 5 ,800 1 ,951 1 ,704 227 5 ,900 1 ,965 1 ,724 241 165,,881 177,,433 182,,694 184,,828 191 ,431 198,,801 6 7 7 ,414 8 4 ,558 90 ,527 99,,961 7 8 ,372 8 ,251 8 ,218 8,,584 8 9 10 11 6 ,900 1,,472 1 ,324 148 6 ,700 1 ,551 1 ,390 161 6 ,600 1,,618 1,,446 172 12 150,,168 158 ,409 65 19 25 19 177 ,182 183 ,700 64 19 24 19 ,382 ,639 ,810 ,933 174 ,712 ,116 ,235 ,590 ,291 2 3 4 5 ,600 ,759 ,902 ,939 67 19 26 21 ,136 ,610 ,371 ,155 68 19 26 22 ,888 ,457 ,867 ,584 68 19 27 22 ,929 ,382 ,487 ,060 70 19 27 23 13 16,,058 16,,982 18,,274 20,,078 22,,433 23,,623 25,,322 27,,626 14 15 16 17 18 19 13,,723 9,,022 3,,434 1,,267 574 693 14,,581 9 ,835 3 ,375 1,,371 624 747 15,,638 10,,397 3,,759 1,,482 550 932 17,,002 11, 109 4, 172 1, 721 565 1, 156 18,,934 12,,101 4,,866 1,,967 577 1,,390 19,,965 12,,838 5,,062 2,,065 564 1,,501 21,,558 15,,917 5,,505 2,,336 686 . 1.,650 25,,856 15,,195 6,,087 2,,576 756 1, 8 4 0 20 2,,335 2,,401 2, 636 3, 076 3,,499 3,,658 3,,764 3, 770 21 22 23 134,,110 9,,388 124,,722 141,,427 9,,900 131,,527 147, 6 0 7 10, 3 3 2 137, 2 7 5 157, 355 11, 015 146, 3 4 0 160,,261 11, 2 1 8 149, 043 161, 2 0 5 11, 2 8 4 149, 921 166, 109 11, 628 154, 481 171, 175 11, 982 159, 195 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories Land Demand deposits 8 currency Miscellaneous assets Insurance receivables E q u i t y in spons. a g e n c i e s 8 9 10 11 12 Credit m a r k e t i n s t r u m e n t s 14 Mortgages 15 B a n k loans n . e . c . 16 O t h e r loans 17 U.S. government 18 F e d . Inter. C r e d i t B a n k s 19 T r a d e debt 20 C o r p o r a t e farms N o n c o r p o r a t e far 23 21 22 Nonfarm Noncorporate Business 1 2 0 0 ,657 2 1 2 ,549 2 1 9 ,296 2 2 5 ,664 2 3 3 ,570 2 4 0 ,944 2 4 7 ,608 2 5 7 ,071 T a n g i b l e a s s e t s 1 2 3 4 5 136 81 40 15 143 82 44 15 146 83 46 16 149 84 48 16 155 86 50 16 156 88 51 16 159 91 52 15 165 94 54 15 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 2 5 4 5 Land 6 ,513 ,055 ,305 ,155 ,112 ,643 ,579 ,890 ,705 ,342 ,993 ,370 ,568 ,562 ,120 ,886 ,684 ,705 ,098 ,881 ,365 ,475 ,270 ,618 ,564 ,048 ,717 ,599 ,515 ,557 ,996 ,780 6 64,,144 69,,437 72 ,591 76 ,096 79 ,686 8 4 ,581 8 8 ,244 91 ,758 7 22,,187 23,,171 24,,488 2 5 ,973 2 6 ,332 2 5 ,799 26 ,204 2 6 ,972 T o t a l f i n a n c i a l a s s e t s 8 9 10 11 12 11,,200 8,,704 2,,283 2,,262 21 11,,549 9 ,209 2 ,413 2 ,392 21 12, 556 9,,546 2,,586 2,,560 26 13 9 2 2 12 10 2 2 ,707 ,729 ,896 ,856 40 12,,415 10,,549 3,,055 2 ,987 48 12 ,515 10 ,488 3 ,201 5,,144 57 12 ,515 11 ,128 3 ,329 5,,260 69 13 222,,844 235,,720 243,,784 251 ,637 259,,702 266,,745 275,,812 ,641 ,623 ,709 ,677 32 Demand deposits 8 currency C o n s u m e r credit M i s c e l l a n e o u s assets I n s u r a n c e receivables. E q u i t y in s p o n s . a g e n c i e s 284,,045 T o t a l a s s e t s 7 8 9 10 11 12 15 14 20,,589 21,,499 23,,131 24,,197 26,,840 28,,745 50,,127 55,,345 T o t a l l i a b i l i t i e s 14 15 16 17 18 19 18,,436 10,,628 2,,016 7,,142 1, 4 7 0 19, 5 6 2 10,,865 1,,788 7,,432 1, 645 20,,522 11,,146 1,,671 7,,660 1,,815 21,,948 12,,276 1,,823 8,,422 2,,051 24,,324 15,,534 1,,938 9,,555 2,,261 26,,071 14,,445 1,,705 10, 2 4 5 2, 4 9 5 28,,412 16,,415 1,,821 11,,785 2,,807 51,,758 18,,772 2,,001 15,,585 5,,186 15 16 17 18 19 20 21 2, 388 5, 4 2 0 2,,993 5,,704 3, 078 6,,298 5,,259 6,,433 5,,652 7,,158 5, 969 7, 659 4,,545 7, 654 4,,716 8,,270 22 23 24 2, 153 10, 060 7, 9 0 7 1, 9 3 7 10, 988 9, 051 2, 609 10, 9 8 7 8, 378 2,,249 11, 626 9, 5 7 7 2, 5 1 6 10,,750 8, 2 5 4 2, 674 11, 2 2 8 8, 554 1, 715 10, 619 8, 904 1, 5 8 7 10, 049 8, 4 6 2 25 202, 2 5 5 2 1 4 , 221 220, 653 227, 4 4 0 232, 862 2 3 7 , 998 245, 685 D a t a are In m i l l i o n s of d o l l a r s . Credit market instruments Mortgages Home mortgages Multi-family Commercial B a n k loans n . e . c . Other loans T r a d e d e b t , net T r a d e debt - T r a d e credit 2 5 0 . 698 Net w o r t h 20 21 22 25 24 25 M a y 1987 Farm Business Farm B u s i n e s s 18 S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1964 Farm Business 1 Tangible assets 2 0 0 ,378 2 3 4 5 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 6 Land 7 Total financial 8 9 10 11 assets Demand deposits 8 currency M i s c e l l a n e o u s assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s 12 Total assets 74 18 29 25 2 0 8 ,669 2 2 5 ,280 ,424 ,795 ,886 ,743 74 ,688 19 ,129 31 ,107 24 ,452 125 ,954 133 ,981 144 ,745 7 ,825 8 ,217 8 ,497 5 ,700 2 ,125 1 • 869 256 5 ,900 2 ,317 2 ,038 279 216 ,886 2 0 8 ,203 80 19 33 28 ,535 ,179 ,313 ,043 2 3 6 ,207 83 20 36 27 ,563 ,011 ,105 ,447 2 4 8 ,881 2 6 0 ,969 271 ,878 279 ,930 1 100 23 45 31 104 23 49 31 ,302 ,998 ,228 ,076 2 3 4 5 171 ,067 175 ,628 6 10 ,182 10 ,786 7 ,061 ,517 ,600 ,944 93 ,046 ,070 41 ,838 29 ,138 152 ,644 161 ,820 167 ,923 8 ,704 9 ,067 9 ,646 6 ,000 2,,497 2:,178 319 6 ,000 2,,704 2,,339 365 6 ,100 2 ,967 2 ,553 414 6 ,300 3,,346 2 ,830 516 6 ,400 3 ,782 3 ,211 571 6 ,515 8 4 ,271 9 3 ,649 10 622 11 233,,777 244,,911 2 5 7 ,948 270,,615 2 8 2 ,060 290,,716 12 87 20 38 27 ,811 ,387 ,609 ,815 13 Total l i a b i l i t i e s .31,,038 33,,827 37, 674 41,,274 44,,377 46,,170 48 ,827 51,,284 13 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n . e . c . O t h e r loans U.S. g o v e r n m e n t F e d . Inter. C r e d i t B a n k s 26 .406 16:,822 6,,688 2,,896 797 2,,099 29 ,009 18:• 942 6,,959 3,,108 861 2,,247 32,,311 21, 187 7, 667 3, 4 5 7 941 2, 5 1 6 35, 5 0 4 23, 052 8, 600 3, 8 5 2 929 2, 923 38,,815 25, 017 9,,300 4, 4 9 8 1,.087 3, 411 41,,583 27,,177 9, 718 4,,688 1, 034 3, 654 44 ,617 28,,995 10,,328 5,,294 1,,019 4,,275 47,,442 30,,346 11,, 155 5,,941 967 4,,974 20 T r a d e debt 21 Net worth 22 C o r p o r a t e farms 23 N o n c o r p o r a t e farms 14 15 16 17 18 19 4,,632 4,,818 5, 363 5, 770 5,,562 4, 5 8 7 4,,210 3,,842 2 0 177, 165 12, 4 0 2 164, 763 183: 059 12, 8 1 4 170, 245 196, 103 13, 727 182. 376 203, 637 14, 2 5 5 189, 382 213, 571 14, 950 198, 621 224, 4 4 5 15, 711 208, 734 233,,233 16,,326 216,,907 239,,432 21 16,,760 2 2 222, 672 23 Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 R e p r o d u c i b l e assets Residential structures N o n r e s . plant & equipment Inventories 6 Land 7 T o t a l f i n a n c i a l assets 8 9 10 11 12 Demand d e p o s i t s 8 c u r r e n c y C o n s u m e r credit M i s c e l l a n e o u s assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s 13 T o t a l a s s e t s 2 6 5 ,372 279 ,761 294 ,810 319 ,046 3 3 2 ,654 361 ,384 392 ,319 170 ,107 97 ,334 5 7 ,644 15 ,129 180 ,278 104 ,041 61 ,148 15 ,089 191 ,359 109 ,329 66 ,192 15 ,838 207 118 72 16 ,152 ,118 ,705 ,329 2 1 8 ,508 123 ,952 77 ,454 17 ,102 2 4 2 ,380 139 ,706 8 5 ,050 17 ,624 267 155 94 18 95 ,265 99 ,483 103 ,451 111 ,894 114 ,146 119 ,004 2 7 ,914 28 ,743 29 ,792 30 ,496 31 ,292 32 ,534 12 11 3 3 ,515 ,854 ,545 ,463 82 12 ,515 12 ,429 3 ,799 3 ,704 95 12 13 4 3 ,515 ,194 ,083 ,975 108 12 ,515 13 ,539 4,,442 4 ,325 117 12 13 4 4 12 14 5 5 293,,286 308 ,504 324,,602 349,,542 363 ,946 ,515 ,933 ,844 ,716 128 4 1 7 .227 1 288 165 104 19 ,539 ,106 ,299 ,134 2 3 4 5 124 ,631 128 ,688 6 33 ,752 35,,395 7 ,515 ,693 ,326 ,187 139 12 ,515 15,,239 5 ,998 5,,846 152 12,,515 8 16 ,198 9 6 ,682 10 6 ,515 11 167 12 393,,918 426,,071 452,,622 13 ,688 ,010 ,332 .346 14 T o t a l l i a b i l i t i e s 36 ,321 41,,831 48,,583 53,,532 60,,568 69,,982 84,,030 98,,136 14 15 16 17 18 19 36,,050 21,,424 2,,002 15:.825 3,,597 42 ,442 25,,877 1,,902 19 ,095 4,,880 49,,883 30,,750 1 ,997 21,,846 6,,907 56,,937 34,,761 1,,598 24, 245 8,,918 64,,407 40,,883 2,,102 27,,045 11,,736 73,,458 47,,833 2,,224 29,,449 16,,160 86, 921 57, 638 2, 008 910 22,, 720 99,,957 70,,042 2, 153 38, 683 29,,206 5,,308 9,,318 5,,806 10,,759 6,,708 12,,425 8,,079 14,,097 8,,784 14,,740 9,,866 15,,759 12, 054 17, 229 11,,696 20 18,,219 21 271 8,,232 7,,961 -611 7,,495 8, 106 - 1 ,,300 6,,630 7,,930 - 3 ,,405 5,,086 8, 491 - 3 ,,839 5,,183 9,,022 - 3 , 476 4,,179 7, 655 - 2 , 891 5, 219 8, 110 - 1 , 821 22 4, 8 0 2 23 6, 623 24 256, 965 266, 673 276, 019 296, 010 303, 378 323, 936 342, 041 354, 486 25 20 21 22 23 24 Credit market instruments Mortgages Home m o r t g a g e s Multi-family Commercial Bank loans n . e . c . O t h e r loans T r a d e debt, net T r a d e debt - T r a d e credit 25 Net worth Data are in m i l l i o n s of d o l l a r s . 15 16 17 18 19 May 1987 Farm B u s i n e s s Farm Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t C o s t 19 Year-End Outstandings Year-End Outstandings 1975 1975 1976 1977 1978 Farm Business 1 302 ,190 341 ,879 4 2 7 ,321 4 6 6 ,032 531 ,363 611 ,498 675 ,716 796 ,658 2 3 4 5 114 ,597 2 5 ,515 53 ,641 35 ,441 130 ,498 2 7 ,165 59 ,034 4 4 -99 161 29 66 65 ,539 ,703 ,380 ,456 178 ,796 33 ,620 8 2 ,745 62 ,431 190 ,871 35 ,656 90 ,914 64 ,301 2 0 0 ,563 38 ,804 101 ,589 60 ,170 2 1 7 ,664 43 ,801 114 ,559 59 ,504 2 5 7 ,222 49 ,624 133 ,912 73 ,686 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 4 5 6 187 ,593 211 ,581 2 6 5 ,782 2 8 7 ,236 340 ,492 4 1 0 ,935 4 5 8 ,052 5 5 9 ,416 Land 6 7 11 ,477 12 ,413 13 ,256 13 ,850 14 ,847 16 ,273 18 ,087 2 0 ,154 Demand deposits 8 currency M i s c e l l a n e o u s assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s 8 8 9 10 11 6 ,638 41,839 4 • 14 7 692 6 ,900 5 ,513 4 ,721 782 7 ,100 6 ,156 5 ,214 942 6 ,940 6 ,910 5 ,762 1 ,148 , 7 ,010 7 ,837 6 ,453 1 ,384 6 ,947 9 ,326 7 ,718 1 ,608 7 ,035 11 ,052 9 ,197 1 ,855 7 ,137 15 ,017 10 • 891 2 • 126 12 313,• 667 354 ,292 440,• 5 7 7 479,• 8 8 2 546,• 2 1 0 627 • 771 693 •805 816,• 792 13 55, 366 61,• 081 69,,789 77,,982 87,,304 98,,177 112,.471 129,,686 14 15 16 17 18 19 51. 375 32, 192 12, 5 0 0 6, 683 1, 014 5, 669 56,.547 35, 095 14, 306 7, 146 1, 050 6, 096 65, 132 39, 5 2 8 17,.165 8. 4 3 9 1, 241 7, 198 73, 102 44, 705 18, 2 3 6 10, 161 1, 313 8, 848 81, 965 49, 682 20, 199 12, 084 2, 089 9, 995 92,,036 55, 2 6 8 23. 2 3 0 13, 5 3 8 2. 226 11, 312 105, 4 4 8 63, 4 5 8 25, 729 16, 261 5, 5 0 2 12, 759 121, 047 71, 610 28, 211 21, 226 7, 009 14, 2 1 7 20 3, 991 4, 5 3 4 4, 657 4,880 5 , 339 6, 141 7, 025 8 , 639 21 22 23 2 5 8 , 301 18, 081 240, 220 2 9 3 , 211 20, 5 2 5 2 7 2 , 686 370, 788 2 5 , 955 344, 8 3 3 4 0 1 , 900 2 8 , 133 373, 767 458, 906 32, 123 4 2 6 , 783 529, 594 37, 072 492, 522 5 8 1 , 532 4 0 , 693 5 4 0 , 639 2 $ 7 9 10 11 12 Credit market Instruments Mortgages Bank loans n . e . c . O t h e r loans U.S. g o v e r n m e n t Fed. Inter. Credit Banks T r a d e debt 687, 106 1 4 8 , 097 C o r p o r a t e farms 659, 009 Noncorporate farms 21 22 25 Nonfarm Noncorporate Business 1 4 5 8 ,444 5 1 7 ,207 5 9 7 ,266 687 ,699 741 ,705 8 2 2 ,646 955 ,995 1156 ,511 2 3 4 5 322 185 115 21 ,844 ,471 ,702 ,671 362 ,841 2 1 2 ,013 126 ,814 2 4 ,014 417 246 145 27 481 278 172 29 ,259 ,794 ,865 ,600 511 ,625 2 9 9 ,525 184 ,819 2 7 ,281 5 5 8 ,611 333 ,078 197 ,625 2 7 ,910 632 ,947 384 ,099 2 1 9 ,594 29 ,454 742 ,255 4 4 8 ,918 2 6 0 ,595 52 ,724 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories Land ,059 ,015 ,735 ,309 6 155 ,600 154 ,566 180 ,207 2 0 6 ,440 2 3 0 ,078 2 6 4 ,055 521 ,048 594 ,276 7 55 ,610 37 ,575 4 0 ,219 41 ,998 4 4 ,585 4 8 ,664 5 0 ,788 5 5 ,804 8 9 10 11 12 12 ,515 15 ,619 7 ,476 7 • 296 180 12 ,515 16 ,590 8 ,470 8 ,278 192 12 ,515 18 ,249 9 ,455 9 ,245 212 12 ,515 19 ,008 10 ,475 10 ,229 246 12 ,515 20 ,120 11 ,748 11,,461 287 12 ,515 2 2 ,271 13 ,878 15 ,518 560 12 ,515 21 ,857 16 ,456 16 ,052 404 12 ,515 2 5 ,841 19 ,448 18 ,917 551 13 494,• 054 5 5 4 ,782 637,• 4 8 5 729,• 697 786,• 086 871,• 510 1004,• 785 14 116,,617 145,,015 174,,891 196,• 421 212,.145 251,• 778 262,• 754 298,,272 120, 363 88, 251 3, 050 46, 740 38, 461 148,.705 114,.527 3,,626 56, 660 54, 241 178,.205 139,.880 3, 2 2 6 64, 461 72, 195 198,,461 159,.505 5,.008 69,.961 86, 336 213, 109 173, 502 3, 635 70, 069 99, 5 9 8 230,.498 189,.520 5,.018 73, 937 110, 565 260, 2 8 9 214, 979 6, 778 80, 550 127, 851 292, 719 244,.174 7, 5 7 5 88, 792 147, 8 0 9 20 21 12, 604 19, 5 0 8 13, 667 20, 511 14, 780 23, 545 13, 8 5 4 25, 302 12, 4 7 9 2 7 , 328 9, 5 9 4 51, 5 8 4 10, 4 7 4 54, 8 5 6 9, 725 58, 8 2 2 22 23 24 - 3 , 746 4 , 377 8 , 125 - 3 , 690 5, 080 8 9770 - 5 , 514 4 , 755 8 , 069 - 2 , 040 6, 140 8 , 180 966 7, 914 8,880 1, 2 8 0 11, 4 9 0 10, 2 1 0 2, 4 6 5 15, 8 4 7 15, 582 5, 5 5 5 17, 794 12, 241 25 377, 4 5 7 4 0 9 , 767 462, 594 535, 276 5 7 5 , 943 659, 5 5 2 742, 029 8 9 4 , 045 6 7 Demand deposits 8 currency C o n s u m e r credit Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 8 9 10 11 12 Credit market Instruments Mortgages Home mortgages Multi-family Commercial 15 16 17 18 19 1192,• 515 15 16 17 18 19 D a t a are in m i l l i o n s of d o l l a r s . 2 3 4 5 B a n k loans n . e . c . Other loans T r a d e d e b t , net T r a d e debt - T r a d e credit 20 21 22 25 24 M a y 1987 Farm Business 2 0 Farm B u s i n e s s S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End Outstandings 1979 1980 1981 1982 1983 1984 1985 1986 Farm Business 1 Tangible assets 925,,191 1018,,530 1021,,480 981,,010 968,,296 862, 021 763, 904 70S,,199 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 284,,944 54,,431 149,,838 80,,675 311,.152 59,,241 167,,397 84,,514 325, 8 7 4 63,,118 181,,202 81,,554 322,,985 61,,872 181,,865 79,,248 327, 4 4 5 63,,752 184,,328 79,,365 330 «057 65, 617 183, 2 3 2 81, 2 0 8 317, 370 65,.440 177, 8 9 6 74, 034 309,,476 67, 134 172,,195 70,,147 2 3 4 5 6 Land 640,,247 707,,378 695, 606 658,,025 640,,851 531, 964 446,,534 395,,723 6 22,,226 24,,199 26,,053 27,,859 29,,126 31, 2 0 0 33,,598 36,,949 7 7,,284 14,,942 12,,406 2,,536 7,,390 16,,809 13,.714 3,,095 7,,504 18,,549 14,,821 3,,728 7,,634 20, 225 16,,110 4 ,115 7,,780 21, 346 17 -129 4,,217 7, 942 23, 258 18,979 4,,279 8,,120 25,,478 21,.483 3,,995 8,,314 8 9 28,,635 24, 569 10 4,,066 11 12 T o t a l a s s e t s 947,,417 1042,,729 1047,,533 1008 8 6 9 997,,422 893,,221 797,,502 742,,148 12 13 T o t a l l i a b i l i t i e s 154 ,368 170,,582 192,,129 199,,330 202,,903 201,,781 187,,203 175,,116 13 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 144,,567 8 5 ,599 31 ,033 2 7 ,935 10,,391 17 ,544 159,,754 95,,764 31,,566 32,,424 13,,026 19,,398 176 ,363 105,,801 32 ,920 37,,642 16,,420 21,,222 183,,208 110,,026 36,,135 37,,047 16,,657 20,,390 187,,508 112,,840 38,,927 35 ,741 16, 700 19,,041 187,,525 112,,000 39,,907 35,,618 17,,800 17,,818 173 ,203 105,,615 35 ,507 32,,081 18,,189 13,,892 160,,930 99 ,028 32,,602 29,,300 18,,500 10,,800 20 T r a d e debt 9 ,801 10,,828 15,,766 16,,122 15,,395 14,,256 14 ,000 14 ,186 20 793 ,049 5 5 ,513 737 ,536 872,,147 61,,050 811,,097 855,,404 59,,878 795,,526 809,,539 56,,668 752,,871 794,,519 55,,616 738,,903 691,,440 4 8 ,401 643,,039 610 ,299 4 2 ,721 5 6 7 ,578 5 6 7 ,032 21 39 ,692 22 5 2 7 ,340 23 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 21 Net w o r t h Corporate farms 22 23 N o n c o r p o r a t e farms 14 15 16 17 18 19 Nonfarm Noncorporate Business 1 Tangible assets 1353 ,885 1837,,819 1898,,748 2063,,417 2242,,149 2396,,084 2582,,425 1 ,747 ,290 ,461 ,996 1135 ,583 710 ,350 391 ,737 33,,496 1176,,709 7 2 2 ,790 420,,209 33,,710 1236,,049 765 ,267 435,,059 35,,723 1335,,617 8 3 2 ,234 463,,710 39,,673 1613 ,613 8 8 2 ,700 489,,046 41,,867 1498,,236 937,,156 518,,390 42,,690 2 3 4 5 4 8 6 ,223 5 8 9 ,100 702,,236 722,,039 8 2 7 ,368 906,,532 982 ,471 1084,,189 6 61 ,036 64,,294 69 ,851 73,,512 73,,586 85,,800 100,,927 108,,523 7 ,515 ,073 ,448 ,805 643 12,,515 26,,745 2 5 ,034 2 4 ,279 755 12,,515 30 ,166 2 7 ,170 2 6 ,334 836 12 ,515 31 ,770 2 9 ,227 28,,362 865 12,,515 36,,429 24,,642 2 3 ,801 841 12,,515 4 4 ,456 28,,829 27,,968 861 12,,515 5 2 ,598 35 ,814 34,,981 833 12,,515 8 56,,546 9 39,,462 10 38,,682 11 780 12 1414 ,921 1652 ,141 1907 ,670 1972,,260 2137,,003 2 3 2 7 ,949 2 4 9 7 ,011 2690,,948 13 336 ,455 366,,982 399 ,226 433,,296 510,,513 614,,492 708 ,444 808,,385 14 330 ,804 2 7 4 ,636 7 ,035 96 ,366 171 ,235 362 ,193 2 9 5 ,197 5 ,954 100 ,515 188,,728 395 ,514 313 ,951 4 ,544 99 ,659 209,,748 431 ,941 340,,455 5,,057 104,,005 231,,393 508,,476 404,,149 8 ,400 117,,231 278,,518 609,,141 493,,946 8,,696 141 ,781 343 ,469 700,,800 582,,488 9,,165 170,,619 402,,704 800,,423 676,,115 11,,037 200,,321 464,,757 10 ,280 4 5 ,888 13 ,528 5 3 ,468 19,,632 61,,931 2 7 ,001 64,,485 28,,432 75 ,895 30 ,969 84,,226 31,,171 8 7 ,141 31,,665 20 92,,643 21 5 ,651 21 ,739 16 ,088 4,,789 2 3 ,327 18 ,538 3 ,712 21 ,318 17,,606 1,,355 18 ,282 16 ,927 2,,037 16,,549 14,,512 5,,351 14,,036 8,,685 7,,644 10,,496 2,,852 7,.962 22 9,,306 23 1,,344 24 1078 ,466 1285 ,159 1508 ,4m4 1538,,964 1626,,490 1713,,457 1788 ,567 1882,,563 25 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 867 540 291 34 6 Land 7 Total financial assets 8 9 10 11 12 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 13 T o t a l a s s e t s 14 T o t a l l i a b i l i t i e s 15 16 17 18 19 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial Bank loans n.e.c. Other loans T r a d e d e b t , net T r a d e debt - T r a d e credit 2 5 Net w o r t h D a t a a r e In m i l l i o n s of d o l l a r s . 12 26 22 21 ,662 ,884 ,896 ,882 1587 ,847 998 628 336 33 15 16 17 18 19 M a y 1987 Nonfinancial Corporate Business NonfInancial Corporate Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 21 Year-End Outstandings Year-End Outstandings Nonflnanclal Corporate Business 1 201, 393 223,.993 229,,668 259,,078 289,,354 305,,376 322,,385 335,,722 T a n g i b l e assets 2 3 4 5 176,.084 3,.932 123,.675 48,.477 196,.229 4,.219 138,.191 53,,819 199,,964 4 ,385 146 ,192 49 ,387 226,,442 4,,725 161 ,,498 60,,219 253,,337 4,,981 178,,656 69,,700 266,,376 5,,069 190,.493 70,,814 279,.398 5,.113 201,.575 72,,710 287,,429 5,,206 210,,965 71,,258 6 25,,309 27,,764 2 9 ,704 32,,636 36,,017 39,,000 42,.987 7 76,,167 81,,670 8 5 • 601 102,,421 110,,491 115,,957 119,,052 8 9 10 11 12 13 14 15 35,,155 21,,434 900 36,,256 21,,861 900 39,,260 2 2 ,903 900 43,,844 2 4 ,222 900 46,,437 25,,859 900 46,,271 26,,641 900 48,,013 26,.550 900 48,,373 28,,329 1,,100 51 12,,291 350 129 10 12,,853 452 180 10 14 ,697 485 265 57 17,,870 652 143 91 18,,653 844 90 75 17,,647 813 195 114 19,,240 1,,005 204 158 17,,523 972 291 16 17 18 19 20 21 22 1 ,857 29 ,816 9 ,339 8 ,366 956 2 ,210 32 ,295 10 ,909 9 ,625 1 ,192 2 ,530 31 ,587 12 ,224 10 ,700 1 ,383 3 ,076 4 2 ,098 13 ,403 11 ,788 1 ,418 3 ,463 4 5 ,716 14 ,875 12,,979 1,,548 4,,007 4 8 ,910 16 ,769 14,,721 1,,666 4,,188 48,,142 18,,709 16,,253 1,,786 4 ,397 51 , ,663 20,,194 17,,631 1,,866 17 92 141 197 348 382 670 421 ,333 441,,437 460,,349 T o t a l a s s e t s 155,,033 48,,293 (current c o s t ) 2 3 4 5 Land 6 L i q u i d assets D e m a n d d e p o s i t s 8 currency Time deposits S e c u r i t y RPs Foreign deposits U.S. g o v e r n m e n t s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper 8 9 10 11 12 13 14 15 C o n s u m e r credit T r a d e credit M i s c e l l a n e o u s assets F o r e i g n direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 16 17 18 19 20 21 22 2 7 7 ,560 305 ,663 315 ,269 361 ,499 399,,845 24 94,222 103, 151 102,,484 125,,566 139,,847 145,,723 150 ,697 25 26 27 28 29 30 31 57,072 63, 342 65,,243 72,,024 80,,422 87,,626 91 ,973 96,,856 27,671 11,694 872 2,512 8,310 31,.971 13,.074 1,.093 2,,949 9,,032 34,,874 13,,861 1,,031 3 ,532 9 ,298 36,,498 15,,135 1,,428 4 ,267 9 ,440 39,,792 16,,179 1,,364 4,,937 9,,878 44,,497 17,,215 1 ,587 , 5 ,353 10,,275 48 ,012 18 ,101 1 ,547 5 ,670 10 ,884 51,,547 19,,732 1,,872 5,,939 11,,921 32 33 34 35 36 15,761 172 93 1,156 525 16,,327 166 95 1,,198 511 14 ,537 162 107 1 ,064 638 18,,293 207 137 1 ,138 616 2 2 ,040 269 156 1 ,352 634 2 2 ,927 331 167 1 ,834 655 2 2 ,357 402 188 ,960 1 953 21,,718 531 301 ,221 2, 806 37 38 39 11,264 23,283 2,603 12,,118 24,,904 2,,787 9 ,738 2 4 ,562 2 ,941 17 ,252 32 ,899 3 ,391 21 ,922 33 ,845 3 ,658 18 ,672 35 ,480 3 ,945 19 ,271 35 ,202 4 ,251 15 ,988 37 ,556 4 ,633 40 41 183,338 31+129 2 0 2 ,512 31*278 2 1 2 ,785 30*661 2 3 5 ,933 30.527 2 5 9 ,998 30 .931 2 7 5 ,610 31.793 2 9 0 ,740 31,»634 305 ,316 31.723 42 43 84,922 67*205 83,862 75*531 92,205 70*758 116,647 61*745 138,250 58.171 149,941 58*440 144,776 63*527 216,033 44*833 44 7,070 7,227 7,154 8,419 9,215 9,194 9,052 45 46*319 41*410 43*332 49*440 53*173 54*403 49*795 46 133,604 149,148 154, 658 174,,438 196,820 210,204 226,.060 236,438 47 48 49 50 125,029 1,800 78,544 44,685 140,329 1,963 89,476 48,890 145, 6 4 5 2,,129 98,,203 45,,313 165,,131 2,,314 107,,716 55,,101 187,192 2,422 119,918 64,852 200,837 2,519 132,216 66,102 216,.141 2,,627 145,.603 67,,911 226,174 2,732 157,140 66,302 51 8,575 8,819 9,,013 9,,307 9,628 9,367 9,,919 10,264 240,,259 2 7 6 ,859 307,311 326,161 345,,112 361,065 otal a s s e t s 151,293 47*605 167,464 48*023 180,438 48*562 194,415 47.307 206,032 47*010 let w o r t h D e b t - n e t w o r t h ratio 23 7 124,,627 T o t a l f i n a n c i a l assets 697 1 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 23 C r e d i t m a r k e t debt Tax-exempt bonds C o r p o r a t e bonds Mortgages Home mortgages Multi-family Commercial 25 26 27 28 29 30 31 Bank loans n.e.c. C o m m e r c i a l paper Acceptance liabilities N o n b a n k finance loans U . S . g o v e r n m e n t loans P r o f i t taxes p a y a b l e T r a d e debt F o r e i g n direct i n v . In U . S . D e b t - n e t w o r t h ratio 32 33 34 35 36 37 38 39 (25/40) 41 M a r k e t value of e q u i t i e s , i n c l u d i n g corp. farm equities 4 2 D e b t - e q u i t y ratio (25/42) 43 Net w o r t h of c o r p o r a t e farms, from farm sector table R a t i o of m a r k e t value 70*757 to net w o r t h (%) ( 4 2 / 4 0 ) 9,190 44 45 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost b a s i s : 52 53 54 209,771 115,549 49*392 230,818 127,667 49*615 137,775 47*354 Data are in m i l l i o n s of d o l l a r s . angible a s s e t s 46 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 47 48 49 50 Land 51 52 53 (25/53) 54 M a y 1987 Nonfinancial Corporate Business 22 Nonfinancial Corporate Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End Outstandings Nonfinancial Corporate Business 1 Tangible assets (current c o s t ) 2 3 4 5 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 6 Land 7 Total f i n a n c i a l assets 367,,317 314,,382 5 ,259 230,,103 78,,920 410,,238 3491.921 5, 4 6 2 257, 504 86,,955 439,,521 371,,645 5,,542 277,,332 88,,771 4 5 3 ,142 378,,522 5,,750 2 8 5 ,999 86,,773 4 7 6 ,880 493,,209 508, 781 527,,068 1 396,,473 6 ,076 2 9 7 ,664 92 ,733 407,,705 6 ,348 305,,767 95,,590 417,,655 6,,758 313,,132 97,,765 434,,026 7,,361 323, 8 8 4 102,,781 2 3 4 5 52,,935 60,,317 67,,876 74,,620 8 0 ,407 85,,504 91,,126 93,,042 6 142 ,089 147,,210 151,,876 163,,502 178,,716 181,,736 194,,579 206,,589 7 8 9 10 11 12 13 14 15 L i q u i d assets Demand d e p o s i t s 8 c u r r e n c y Time d e p o s i t s Secur i by R P s Foreign deposits U.S. g o v e r n m e n t s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper 53 ,428 29 ,282 1 ,000 48,,893 28 ,990 1,,000 48,,458 29,,024 1,,000 50,,992 30,,083 1,,900 5 6 ,185 29 ,196 1 ,500 51 ,429 28,,243 3,,000 54, 8 3 7 31,,673 4,,100 129 21 ,581 1 ,219 217 138 17,,118 1,,342 305 131 16,,389 1,,479 435 149 16 ,692 1,,958 210 132 2 2 ,821 1 ,794 742 148 16,,868 2,,382 788 256 15,,344 2,,395 1,,089 57,,937 8 9 34,,564 5 ,000 10 11 790 12 13,,582 13 2,,697 14 1,,304 15 16 17 18 19 20 21 22 C o n s u m e r credit Trade credit M i s c e l l a n e o u s assets F o r e i g n direct investment Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 4 ,881 61 ,466 2 2 ,314 19 ,395 2,,034 2 883 5 ,123 67,,333 25 ,861 22,,505 2,,393 13 950 5 ,133 68 ,973 29 ,312 25,,394 2,,965 32 921 5 ,439 75 ,221 31 ,850 2 7 .409 3,,511 38 892 6 81 35 29 4 6 85 38 31 4 ,235 ,699 ,373 ,865 ,672 72 1,,764 6, 346 91, 524 41,,872 34,,717 5,,134 80 1,,941 7,,031 96,,131 45,,490 37,,276 5,,684 90 2,,440 2 3 Total assets 5 0 9 ,406 557,,448 591 ,397 616 ,644 655 ,596 674,,945 703,,360 733,,657 23 24 Total l i a b i l i t i e s 176 ,897 189,,979 199 • 165 2 0 9 ,121 2 2 7 ,782 239,,371 255,,032 271,,628 24 105 ,422 115 ,830 125 ,335 133 ,804 144 ,288 154,,722 164,,792 ,564 ,598 ,016 ,348 ,234 58 ,040 23 ,225 1 ,788 6 ,632 14 ,805 64 ,072 2 4 ,857 1 ,671 6 ,855 16 ,331 69,,715 2 7 ,714 1 ,823 7 ,611 18 ,280 72 ,794 30 ,800 1 ,938 8 ,518 2 0 ,344 76,,216 , 448 1,,703 9,,289 22,,456 80,,611 37,,442 1,,821 10,,363 25,,258 176,,961 25 26 84,,643 27 42,,084 28 2,,001 29 11,,413 30 28,,670 31 25 ,577 362 166 2 ,471 684 30 ,657 378 245 2 ,603 682 31 ,866 422 309 3 ,068 741 31 ,527 658 291 3 ,147 752 35 ,310 315 296 3 ,994 779 37 ,458 769 417 5,,558 856 38,,401 1,,094 447 5,,875 922 41 ,808 1,,198 449 5 ,644 1,,135 2 0 ,085 46 ,314 5 ,076 18 ,102 50 ,588 5 ,459 15 ,971 52 ,149 5 ,710 13 ,378 5 5 ,824 6 ,115 15 ,817 61 ,073 6 ,604 13 ,615 64 ,124 6 ,910 14 ,995 67 ,853 7 ,392 15,,941 37 71,,114 38 7,,612 39 (25/40) 332 ,509 31*705 367 ,469 31*521 392 ,232 31*954 4 0 7 ,523 32*833 4 2 7 ,814 33*726 4 3 5 ,574 35*521 448,,328 36*757 462,,029 40 38*300 41 Market value of e q u i t i e s , i n c l u d i n g c o r p . farm e q u i t i e s D e b t - e q u i t y ratio ( 2 5 / 4 2 ) 269.173 39*165 289,169 40*056 242,470 51*690 342,082 39*114 361,299 39*935 354,114 43*692 428,294 38#476 389,171 42 45*471 43 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 C r e d i t m a r k e t debt T a x - e x e m p t bonds C o r p o r a t e bonds Mortgages Hone mortgages Multi-family Commercial Bank loans n.e.c. C o m m e r c i a l paper Acceptance liabilities N o n b a n k finance loans U.S. g o v e r n m e n t loans P r o f i t taxes payable T r a d e debt F o r e i g n direct inv. in U . S . 4 0 Net worth D e b t - n e t w o r t h ratio 41 42 43 54 21 2 6 13 Net w o r t h of c o r p o r a t e farms, from farm sector table R a t i o of market value 45 to net w o r t h (%) ( 4 2 / 4 0 ) 44 47 48 49 50 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 51 Land 52 Total assets 53 Net worth D e b t - n e t w o r t h ratio 54 (25/53) Data are in m i l l i o n s of d o l l a r s . 16 17 18 19 20 21 22 32 33 34 35 36 9,388 9,900 10,332 11,015 11,218 11,284 11,628 11,982 44 80*952 78*692 61*818 83*941 84+452 81,298 95*531 8 4 # 2 3 0 45 T a n g i b l e s and net worth on h i s t o r i c a l cost 46 T a n g i b l e a s s e t s ,257 ,247 ,027 ,827 ,081 51 1 ,068 basis: 256,302 281,,919 302,,897 313,,898 335,,052 354,,625 372,,784 394,837 46 245,383 2,847 169,571 72,965 269,,788 2,,959 186,,287 80,,542 290,,021 3,,107 204,,323 82,,591 299,,508 3,,392 215,,807 80,,309 319,,055 3,,771 228,,835 86,,449 337,,109 4,,104 243,,555 89,,450 353 ,214 4 ,573 256,,541 92 ,100 373,409 5,232 270,794 97,383 47 48 49 50 10,919 12,,131 12,,876 14,,390 15,,997 17,,516 19,,570 2 1 , 4 2 8 51 398,391 429,,129 454,,773 477,,400 513,,768 536,,361 567,,363 601.426 5 2 221,494 47*595 239,,150 48*434 2 5 5 ,608 49*034 268,,279 49*874 285,,986 50*452 296,,990 52*096 312,,331 52*761 329,798 53 53,657 54 May 1987 Nonfinancial Corporate Business Nonfinancial Corporate Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 23 Year-End Outstandings Year-End Outstandings 1968 1965 1963 Nonfinancial Corporate Business 1 5 4 7 ,341 2 3 4 5 452 8 335 108 6 ,326 .014 .633 ,679 5 7 5 ,984 617 ,322 677 .610 .878 .984 .116 .778 5 1 5 ,965 9 .804 380 .964 125 ,197 572 10 420 141 477 8 353 115 .599 ,891 .267 .441 726 ,638 621 11 457 152 ,393 .650 .568 .375 789 ,967 8 6 5 ,812 934 ,953 T a n g i b l e a s s e t s 684 13 506 165 756 ,887 15 ,898 558 ,739 182 ,250 823 17 615 190 ,696 ,681 ,007 ,008 ,377 ,516 ,785 ,076 (current c o s t ) R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 95 ,015 98 .106 101 ,357 105 .011 105 ,245 105 ,271 108 ,925 111 ,576 2 5 8 .795 2 7 2 .297 288 .562 319 ,227 351 ,082 569 .629 T o t a l f i n a n c i a l a s s r t s Land 63 ,176 33 .053 8 .993 593 781 13 ,786 4 .600 1 .370 61 .326 32 .371 8 .603 895 885 12 .081 3 .639 2 ,852 63,095 34 ,817 9 .682 670 1 ,055 , 9 ,619 3 ,300 3 ,952 68 ,569 37 ,531 9 .056 1 .121 1 .587 10 .393 3 .782 5 .099 69 ,008 43 ,122 3 ,652 3 ,311 1 ,173 7 .322 2 .800 7 ,628 69 .494 4 4 .059 5 .347 234 798 7 ,492 ,175 2 9,,389 11,,430 194,,621 94,,084 70,,269 10,,831 336 12,,648 7 222:.245 2 2 7 .055 8 9 10 11 12 13 14 15 61 .337 33 .427 5 .687 731 16 ,736 3 ,787 969 61 ,670 32 ,738 6 .671 309 1 ,097 15 ,481 3 ,680 1,,694 16 17 18 19 20 21 22 7 ,839 102 ,586 50 ,483 40 ,736 6 ,031 90 3 ,626 8 ,726 111 , ,177 55 ,482 ,480 44 , 6 ,350 91 4,,561 9 124 61 49 6 ,637 ,481 ,501 ,283 ,766 97 5 ,355 10 ,013 136 ,652 64 ,306 51,,007 7 ,331 120 5 ,848 10,,315 144,,964 70,,188 55 ,329 7,,999 134 6,,726 10,.406 163,,513 76,,739 5 8 ,547 8 ,788 160 9,,244 10 .829 186 ,144 85,.101 63,.704 9,,935 225 11,.237 23 769,,586 813,,039 876,,117 949,,907 1015,,200 1109,,194 1216,,894 24 293,,525 314,,031 347,,844 381,,519 409,,877 458,,261 507,,235 540,,981 T o t a l l i a b i l i t i e s 295,,541 326,,009 354,,495 201,,685 220,,712 243,,270 268,,129 L i q u i d assets Demand d e p o s i t s 8 c u r r e n c y Time deposits Security RPs Foreign deposits U . S . government s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper C o n s u m e r credit Trade credit Miscellaneous assets F o r e i g n direct i n v e s t m e n t Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 1304,,582 T o t a l a s s e t s C r e d i t m a r k e t debt Tax-exempt bonds Corporate bonds Mortgages Home mortgages Multi-family Commercial 25 26 27 28 29 30 31 189,,267 88,,414 46,,780 2,,002 12,,403 32,,375 92,,408 49,,475 1 ,902 , 13,,657 33,,916 97,,800 51,,685 1 ,997 , 14,,522 35,,166 108,,024 54,,525 1,,598 15,,247 37,,680 122,,682 56,,626 2,,102 16,,050 38, 4 7 4 135,,575 58,,847 2,,224 17,,082 39,,541 147,,550 58,,038 2,,008 18,,551 37,,479 167,,306 58,,918 2,,153 19,,750 37,,015 32 33 34 35 36 45,,314 968 332 6,,276 1,,183 49,,955 1,,125 382 6,,958 1,,382 60,,723 797 445 7, 5 8 6 1,,676 69,,005 1,,622 531 7,,521 2,,042 75,,671 3,,034 652 7,,231 2,,233 85,,448 4,,249 787 8,,978 1, 657 98,,854 5,,356 1,,141 13,,316 1,,774 105, 5 8 2 7,,133 1, 5 4 5 13, 952 2, 059 37 38 39 17,,508 78,,806 7,,944 18,,007 85,,976 8,,363 20,,169 98,,166 8,,797 20,,374 108,,821 9,,054 15, 647 116,,178 9,,923 18,,508 133, 397 10.,815 15,,202 154,,204 11,,818 11, 4 7 2 161. 744 13, 2 7 0 40 41 476,.061 39*756 499,,008 40*417 528, 2 7 3 41*779 568, 388 42*799 605, 323 44*295 650,,933 45*402 709,,661 45+938 763, 601 Net w o r t h D e b t - n e t w o r t h ratio 46*424 Bank loans n.e.c. C o m m e r c i a l paper Acceptance liabilities N o n b a n k finance loans U . S . g o v e r n m e n t loans P r o f i t taxes p a y a b l e T r a d e debt F o r e i g n direct l n v . in U . S . (25/40) Memo: 42 43 456,076 41*499 509,516 39*583 553,720 39*859 504,221 48*246 651,771 41*138 736,974 40*101 646,923 50*93 44 12.402 12,814 13,727 14,255 14,950 15,711 16,326 45 95.802 102*105 104*817 88.710 107*673 113*218 91*159 649,394 54*588 Net w o r t h of c o r p o r a t e farms, from farm sector table R a t i o of m a r k e t value 85+043 to net w o r t h (%) ( 4 2 / 4 0 ) 16,760 T a n g i b l e s and 46 47 48 49 50 418,,173 394,,887 6,,067 285,,646 103,,174 445,,602 420,,328 6,,915 303,,428 109,,985 482,.941 4 5 5 .091 7 .717 327 .914 119,,460 531,,893 501,,694 8 ,412 357 ,939 135,.343 620,,903 678,,205 724,691 T a n g i b l e a s s e t s 542,,245 9,,013 386,,579 146,,653 586,,239 10,,117 418,,144 157,,978 659,,283 11,,623 4 5 4 ,386 175,,274 684,117 13,004 488,550 182,563 51 23,,286 25,,274 27,.850 30,.199 32,,374 54,,664 58,,922 640,,418 682,,657 741 .756 804,,190 865,,181 940,,150 1029,,287 53 54 346,,893 54*560 568,,626 54*712 593 .892 56*035 422,,671 57*555 455,,504 59*149 481, 8 6 9 61*332 522,,054 62*447 44 45 net w o r t h on h i s t o r i c a l cost b a s i s : 574,,619 52 Data are in m i l l i o n s of d o l l a r s . M a r k e t v a l u e of e q u i t i e s , i n c l u d i n g c o r p . farm equities 4 2 D e b t - e q u i t y ratio (25/421 43 40,574 Reproducible assets Residential structures N o n r e s . plant 8 equipment Inventories 47 48 Land 51 52 1094,520 Total assets 5 5 3 , 3 5 9 Net w o r t h Debt-net worth 64*064 ratio (25/55) M a y 1987 Nonfinancial Corporate Business N o n f i n a n c i a l C o r p o r a t e Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 24 s Year-End Outstandings Year-End O u t s t a n d i n g s 1971 Nonfinancial Corporate Business 1 Tangible assets (current c o s t ) 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 Liquid assets Demand d e p o s i t s 8 c u r r e n c y Time d e p o s i t s Security RPs Foreign deposits U.S. government securities Tax-exempt obligations O p e n - m a r k e t paper 16 17 18 19 20 21 22 C o n s u m e r credit T r a d e credit Miscellaneous assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 23 Total assets 32 33 34 35 36 37 38 39 966, 2 9 8 21, 261 727,,758 217,,279 1231, 5 1 4 1521, 038 1651, 681 1805, 605 2004, 344 2311, 049 1 1096,,153 23,,042 813,,295 259,,816 1362, 786 24, 914 1006, 5 5 7 331, 315 1487, 304 25, 8 3 7 1124, 2 2 0 337, 2 4 7 1627, 296 27, 616 1224, 508 375, 172 1803, 382 30, 309 1356,,144 416, 929 2076, 158 33, 513 1560, 8 2 8 481, 8 1 7 2 3 4 5 6 114, 5 5 5 122,,954 135,,361 158, 2 5 2 164,,377 178, 309 200, 962 234 891 406,• 018 455,,479 526,,035 516, 678 557,,625 611,,929 671,,714 764,,433 7 78 ,819 42,,581 9 ,509 1 ,077 1 ,234 9 ,968 3 ,175 11 ,275 8 8 ,015 44 ,938 11:,890 2 ,688 2 ,172 7 ,917 4 ,175 14 ,235 100,,960 46,,315 16 ,623 11 ,262 3 ,329 4 ,517 4 ,038 14 ,876 105,,407 47,,772 20,,464 5 ,485 4 ,946 5 ,566 4 ,654 16 ,520 125,,170 53,,927 22,,351 4 ,731 , 5 ,772 14 ,281 4 ,481 19 ,627 139- 778 56,,365 24,,413 7,.048 7 ,441 16 ,421 3 ,419 24 ,671 143,,441 59 .207 29,,215 8 , 256 8 ,742 10 ,026 3 ,468 24 ,527 159.,211 57 ,698 31 ,174 13 • 729 16 ,661 11 ,538 3 ,658 24 ,753 8 9 10 11 12 13 14 15 ,587 ,528 ,084 ,388 ,878 359 17 ,459 14 ,032 234 ,173 119 ,259 81 ,503 13 ,729 377 23 ,650 14 ,929 273 ,544 136 ,602 91 ,715 15 ,689 396 28 ,802 15 250 145 100 17 17 275 179 126 23 19 310 198 135 27 .587 ,436 ,199 ,761 ,415 581 31 ,442 16 17 18 19 20 21 22 1414 ,443 1544 ,731 1757 ,549 13 207 106 76 11 ,459 ,336 ,476 ,364 ,816 413 26 ,883 2 0 3 7 ,716 ,825 ,494 ,136 ,140 ,043 423 2 5 ,530 15 256 160 114 20 ,136 .793 ,222 ,583 ,424 460 28 ,755 2 2 0 9 ,306 2 4 1 7 ,534 ,377 ,874 ,022 ,382 ,833 539 34 ,268 20 367 217 151 33 2 6 7 6 ,058 3075 ,482 23 1071, 389 24 636, 769 733,.336 743, 927 767,.694 8 3 0 , 000 925, 169 379,,468 86 186,,113 61,,422 3,,050 21,,672 36,,700 412,.410 634 198,.300 64,,183 3,,626 24,,457 36,,100 462,,051 2, 4 3 0 207,.459 66,,040 3,,226 26,,914 35,,900 527, 937 4,,078 227, 129 67,,016 3,,008 28,,308 35,,700 545,.262 6,.678 254,,333 66,.033 3,,635 28,,798 33,,600 586, 726 9, 163 277, 164 68 •568 5, 018 29,,950 33,,600 657,.497 17, 377 300, 041 72,.252 6,.778 31,,974 33,,500 740, 479 25, 041 321, 157 76 .837 7 ,573 34 ,714 34 ,600 25 26 27 28 29 30 31 107 ,574 6 ,247 1 ,809 14 ,613 1 .604 120,,457 6,,968 1 ,836 18,,187 ,845 150 ,955 8 ,382 2,,368 2 2 ,279 2 ,138 181 ,799 12,,513 3 ,623 2 8 ,112 3 ,667 169 ,045 9,,616 3,,790 31 ,894 3 ,873 171 ,331 11,,049 5,,082 40,,313 4,,056 191,,490 12 ,808 5 ,721 53 ,782 4,,026 225 15 4 65 5 ,959 ,499 ,954 ,268 ,714 32 33 34 35 36 13 ,345 173 ,985 13 ,914 13 ,253 196 ,238 14 ,868 15 ,631 2 3 5 ,098 20 ,556 16 ,717 174 ,129 25 ,144 14 ,312 180 ,458 2 7 ,662 21 ,796 190 ,708 30,,770 20 ,251 2 1 2 ,826 34 ,595 24,,552 37 263 ,887 38 42,,471 39 (25/40) 8 3 3 ,731 45*514 907 ,962 45*421 1024 ,213 45*112 1293 ,789 40*805 1441 ,612 37*823 1587 ,534 36*958 1750 ,889 37*552 2004 ,093 40 36*948 41 M a r k e t value of e q u i t i e s , i n c l u d i n g c o r p . farm e q u i t i e s Debt-equity ratio (25/42) 760,472 49*899 858,338 48*047 680,978 67*851 501,324 105*308 690,03*. 79*019 797,400 73*579 756,841 86*873 781,906 42 94*701 43 18,081 20,525 25,955 28,133 32,1«.3 37,072 40,693 48,097 44 91*213 94*534 66*487 38*748 47*865 50*228 43*226 39*015 45 C r e d i t m a r k e t debt Tax-exempt bonds Corporate bonds Mortgages Home mortgages Multi-family Commercial Bank loans n.e.c. C o m m e r c i a l paper Acceptance liabilities N o n b a n k finance l o a n s U.S. government loans Profit taxes payable T r a d e debt F o r e i g n d i r e c t i n v . in U . S . 4 0 Net w o r t h 41 D e b t - n e t w o r t h ratio 42 43 893, 8 7 0 20, 200 672,.937 200, 733 1089, 2 5 2 580, 712 24 Total liabilities 25 26 27 28 29 30 31 1008, 4 2 5 Net w o r t h of c o r p o r a t e f a r m s , from farm s e c t o r table R a t i o of m a r k e t value 45 to net w o r t h ( % ) ( 4 2 / 4 0 ) 44 T a n g i b l e s and net worth on h i s t o r i c a l cost b a s i s : 46 Tangible assets 769,,831 828,,166 919,,113 1046,,073 1111,,612 1211 ,128 1334,,403 1497,,745 46 47 48 49 50 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 727 14 521 191 ,322 ,663 ,246 ,413 782,,786 14,,736 560,,625 207,,425 869,,215 14 ,892 612 ,359 241 ,964 992,,286 14,,950 673,,618 303,,718 1056,,647 14,,900 730,,757 310,,990 1154 14 794 345 ,649 ,917 ,641 ,091 1274,,988 15,,069 876,,462 383,,457 1434,,108 15,,348 982,,063 436,,697 51 Land 4 2 ,509 45 ,380 49 ,898 53,,787 54,,965 56 ,479 59 ,415 63,,637 51 2006 ,117 2262,,178 5 2 1080 ,948 60*825 1190 ,789 53 62*183 54 52 Total assets 53 Net w o r t h 54 Debt-net worth ratio (25/53) Data are in m i l l i o n s of d o l l a r s . 1175 ,849 1283 ,645 1445 ,148 1562 ,751 1669,,237 1823 ,057 5 9 5 ,137 63,.761 646 ,876 63*754 711 ,812 64*911 8 1 8 ,824 64*475 901 ,543 60*480 993 ,057 59,,082 47 48 49 50 M a y 1987 Nonfinancial Corporate Business Nonfinanclal Corporate Business S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings 1979 2 ^ * 1980 1981 1982 1985 1984 1985 Year-End Outstandings 1986 Nonflnancial Corporate Business 1 2618, 4 6 7 2988,,346 3 3 6 2 ,500 3 5 0 5 ,185 3644 ,811 5875 ,640 4 0 5 0 ,230 4 1 5 8 ,103 T a n g i b l e 2 3 4 5 2351, 5 4 5 36, 711 1755, 579 559, 2 5 5 2670,,714 59,,527 2010,,571 620, 8 1 6 2992 41 2277 673 5106 ,665 41,,249 2 4 0 6 ,915 658,,501 3219 42 2469 707 5412 45 2594 773 5555 ,987 4 6 ,702 2 7 0 0 ,764 788,,521 5609 48 2821 739 ,933 ,979 ,016 ,938 ,789 ,920 ,044 ,825 ,814 ,254 ,519 ,261 ,450 ,962 ,424 ,064 assets (current c o s t ) 1 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 2 3 4 5 Land 6 6 266,,922 317,,632 369 ,567 398 ,520 4 2 5 ,022 462,,826 494,,243 7 888,,605 994,422 1061 ,039 1077 ,133 1194 ,159 1284,,579 1376 ,498 8 9 10 11 12 15 14 15 177,,820 60,,309 35,,877 16,,543 21,,804 15,,105 5,,687 26,,695 196,,509 62,,571 39,,853 22,,915 24,,625 18,,701 3,,490 24,,556 214 57 54 22 22 17 3 34 ,027 ,873 ,758 ,922 ,965 ,714 ,470 ,325 248,,250 65 ,252 65,,029 26,,643 2 2 ,555 25,,000 3,,536 42,,257 302 69 81 57 25 50 4 52 ,761 ,443 ,645 ,887 ,680 ,998 ,201 ,907 324,,485 73,,625 92,,572 55 ,557 20 ,595 58,,174 4,,066 62,,516 359,,779 78 ,579 99,,292 57 ,546 18,,508 55,,050 4,,902 66,,322 588 81 112 47 25 44 6 70 16 17 18 19 20 21 22 21,,762 457,,275 251,,748 178,,240 38,• 949 633 33 ,926 21,,987 485,,505 290,,421 208,,467 43,,619 642 37,,693 2 3 ,854 508,,685 314 ,475 2 2 4 ,826 4 7 ,520 642 41 ,685 2 4 ,596 4 9 5 ,055 511,,452 215,,547 5 0 ,050 714 47,,361 27 555 508 215 53 ,710 ,288 ,400 ,934 ,493 723 38 ,250 51,,515 601,,796 526,,987 222,,755 58,,652 724 44,,856 54,,584 656,,921 565,,214 240,,088 68,,617 851 5 5 ,678 55 642 598 270 78 4582,,318 4 8 3 8 ,970 5160,,219 5406,,728 5 6 0 3 ,966 T o t a l a s s e t s 23 24 5 2 8 ,653 1465 ,863 T o t a l f i n a n c i a l a s s e t s ,869 ,842 ,009 ,000 ,655 ,494 ,968 ,901 ,509 ,825 ,662 ,598 ,646 889 48,,729 8 9 10 11 12 15 14 15 C o n s u m e r credit T r a d e credit M i s c e l l a n e o u s assets F o r e i g n direct i n v e s t m e n t Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 16 17 18 19 20 21 22 23 3507,,072 3982,,768 4423,,539 24 1235,,603 1378,,889 1533 ,740 1610,,381 1731,,573 1987,,610 2206,,296 2405,,105 T o t a l l i a b i l i t i e s 25 26 27 28 29 30 31 835,,393 35 ,028 358 ,465 78 ,452 7 ,035 37 ,197 34 ,200 914,,246 45,,892 366,,120 80,,602 5 ,954 40,,648 34 ,000 1019 59 588 78 4 41 32 ,410 ,323 ,881 ,652 ,544 ,408 ,700 1089 ,190 74,,466 4 0 7 ,547 77 ,452 5 ,057 40,,766 31,,609 1151,,487 83,,897 4 2 5 ,575 80,,957 8,,400 41 ,597 30,,940 1344,,915 104,,459 469,,702 81,,254 8,,696 41,,823 30,,715 1514,,009 127,,059 545,,580 81,,655 9,,165 41,,690 30,,800 1695,,619 119,,055 652,,745 84,,507 11,,621 42,,193 30,,493 32 S3 34 35 36 2 6 9 ,696 2 4 ,518 6 ,921 75,,425 6,,908 295,,904 28,,026 8,,538 80,,788 8,,376 339 42 10 90 9 ,368 ,722 ,724 ,169 ,571 378 ,653 37,,614 10,,333 92,,294 10,,851 399 ,659 36 ,775 13,,820 102 ,446 10,,400 4 7 6 ,652 5 8 ,490 15,,216 127,,582 11,,600 515,,079 72,,207 14,,161 146,,058 14,,230 588,,280 62,,901 14,,000 159,,583 14,,750 37 38 39 27,,075 316,,673 54,,462 25,,341 356 ,256 8 3 ,046 18 ,546 3 8 7 ,070 108 ,714 4,,484 392,,030 124,,677 10,,242 432,,783 137,,061 10,,907 467,,205 164,,583 9,,146 500,,190 182,,951 10,,192 501,,447 197,,847 40 41 2 2 7 3 ,469 36*745 2603,,879 35*110 2 8 8 9 ,799 35,276 2 9 7 1 ,937 36*649 3107,,397 37,056 3172,,609 42*391 3200,,432 47*306 3198,,861 Met w o r t h D e b t - n e t w o r t h ratio 53*006 42 43 943 ,526 88*539 1304,,408 70*088 1226 ,709 83.101 1397,,566 77*934 1655 ,009 69*575 1634,,825 82*266 2049,,399 73*875 2396,,053 70*767 44 5 5 ,513 61,,050 5 9 ,878 56,,668 5 5 ,616 48,,401 42,,721 39,,692 53*260 51*529 64*035 2206,,488 2339,,286 2555,,343 2730,,492 2917,,569 T a n g i b l e a s s e t s 2119,,370 16,,718 1525,,173 577,,479 2244,,498 17,,117 1639,,910 587,,471 2452,,972 18,,265 1788,,522 646,,185 2619,,931 19,,507 1942,,975 657,,449 2801,,480 20,,630 2083,,485 697,,365 45 41+501 50*094 42*449 47*025 7 Liquid assets Demand deposits 8 currency Time deposits Security RPs Foreign deposits U.S. government securities Tax-exempt obligations O p e n - m a r k e t paper C r e d i t m a r k e t debt Tax-exempt bonds C o r p o r a t e bonds Mortgages Home mortgages Multi-family Commercial 25 26 27 28 29 50 31 Bank loans n.e.c. C o m m e r c i a l paper Acceptance liabilities N o n b a n k finance loans U . S . g o v e r n m e n t loans Profit taxes payable T r a d e debt F o r e i g n direct lnv. in U.S. 32 55 34 35 36 37 38 39 40 ( 2 5 / 4 0 ) 41 M a r k e t v a l u e of e q u i t i e s , i n c l u d i n g c o r p . farm e q u i t i e s 4 2 D e b t - e q u i t y ratio ( 2 5 / 4 2 ) 43 Net w o r t h of c o r p o r a t e farms, from farm sector table R a t i o of m a r k e t v a l u e to net w o r t h (%) ( 4 2 / 4 0 ) 74*903 44 45 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost b a s i s : 46 47 48 49 50 1690,,633 1623,,381 15 ,730 1110 ,306 497,,345 1879,,332 1805,,510 16 ,054 1241,,496 5 4 7 ,960 2086,,898 2005,,222 16 ,305 1392 ,792 5 9 6 ,125 116,,089 Land 51 67,,252 73,,822 8 1 ,676 87,,118 94,,788 102,,571 110,,561 52 2579,238 2873,,754 3 1 4 7 ,937 3283,,621 3533,,445 3839,,922 4106,,990 4383,,432 T o t a l a s s e t s 53 54 1345 ,635 62*081 1494,,865 61*159 1614 ,197 63*152 1673,,240 65*094 1801,,872 63*905 1852,,312 72*607 1900,,694 79*655 1978,,327 Net w o r t h D e b t - n e t w o r t h ratio 85*709 Data are in m i l l i o n s of d o l l a r s . 46 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 47 48 49 50 51 52 53 (25/53) 54 M a y 1987 Private Financial Institutions Private F i n a n c i a l I n s t i t u t i o n s S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1947 1948 1949 1950 Private Financial 1 T a n g i b l e assets N o n r e s . plant 8 e q u i p m e n t 2 3 Land 4 T o t a l f i n a n c i a l assets 5 6 7 8 9 10 11 12 13 14 15 Demand d e p o s i t s 8 c u r r e n c y Small time 8 s a v i n g s dep. L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s Foreign deposits Corporate equities Credit market i n s t r u m e n t s U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency securi ties S t a t e 8 local o b l i g a t i o n s C o r p o r a t e & foreign bonds 1951 1952 1953 1954 Institutions 3 ,059 2 ,724 335 3 ,315 2 ,947 368 3 ,401 3 ,020 381 3 ,785 3 ,351 434 4 ,270 3 ,770 500 4 ,452 3 ,919 533 4 ,793 4 ,184 609 5,174 4,441 733 245 ,830 256 ,380 2 7 0 ,848 2 9 2 ,419 312 ,878 339 ,622 362 ,158 394,017 4 4 ,894 127 211 5 ,019 111 230 5 ,268 99 222 5 ,910 106 168 6 ,505 257 187 6 ,675 339 219 6 ,977 410 243 7,303 566 270 5 6 7 8 9 - - - - - - - 1 2 3 5 ,271 208 ,856 111 ,430 1 ,070 7 ,587 22 ,699 5 ,559 216 ,346 102 ,353 ,066 8 ,628 27 ,625 8 ,065 231 ,012 105 ,986 2 ,104 10 ,173 31 ,212 9 ,412 2 4 8 ,206 99 ,384 1 ,892 12 ,506 34 ,274 10 ,257 2 6 3 ,795 95 ,972 1 ,830 14 ,125 37 ,918 11 ,866 2 8 7 ,223 98 • 087 2 ,187 15 ,776 42 ,874 12 ,941 306 ,999 98 ,466 3 ,760 17 ,841 47 ,602 17,728 332,240 103,728 3,685 21,260 51,873 10 11 12 13 14 15 16 17 18 19 20 21 Mortgages C o n s u m e r credit Bank loans n . e . c . O p e n - m a r k e t paper O t h e r loans C u s t . liab. on a c c e p t a n c e s 32 ,045 8 ,340 20 ,609 499 4 ,316 261 38 ,043 10 ,499 21 ,842 485 4 ,546 259 43 ,178 12 ,931 20 ,171 499 4 ,486 272 5 2 ,164 16 ,209 25 ,822 686 4 ,875 394 59 ,934 16 ,879 30 ,336 1 ,025 5 ,286 490 67 ,517 20 ,801 32 ,373 1 ,276 5 ,840 492 75 ,806 24 ,507 31 ,113 1 ,165 6 ,166 573 86,499 25,510 31,280 1,147 6,385 873 16 17 18 19 20 21 22 23 24 25 S e c u r i t y credit Vault cash 8 c o m m . bank res. Trade credit M i s c e l l a n e o u s f i n a n . assets 2 ,688 20 ,115 578 3 ,090 2 ,915 22 ,457 652 3 ,091 3 ,658 18 ,578 723 3,,223 4 ,453 19 ,855 740 3 ,569 4 ,132 2 2 ,753 850 4 ,142 4 ,865 22 ,703 948 4 ,784 5 ,729 2 2 ,672 1 ,006 5 ,181 7,526 21,345 1,064 5,975 22 23 24 25 26 T o t a l assets 2 4 8 ,889 259 ,695 274 ,249 296 ,204 317 ,148 344 ,074 366 ,951 399,191 26 2 7 Total l i a b i l i t i e s 2 2 4 ,282 233,,881 247,,101 266 ,609 2 8 5 ,810 310 ,534 331 ,488 358,702 27 28 29 30 31 32 Checkable deposits S m a l l time 8 savings dep. M o n e y market fund shares L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s 90,,064 59 ,892 89,,488 62,,052 90,,329 64,,624 95,,924 67,,024 102,,743 71 ,914 107 ,902 79,,803 108 ,025 8 8 ,014 3,,599 -82 3,,930 -95 4,,294 -82 4,,576 -61 4 ,546 7 4 ,874 22 5 ,824 37 112,538 97,341 7,011 -20 33 34 35 L i f e insurance r e s e r v e s P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 41,,147 10,-942 1,,850 43, 777 12,,571 1,,911 46,,444 14, 368 2, 4 0 3 49,,080 17,,511 3,,735 54,,480 24,,184 3,,702 57, 388 28, 538 3, 581 36 37 38 39 40 41 42 M u t u a l fund shares Credit market i n s t r u m e n t s C o r p o r a t e bonds Mortgages Bank loans n . e . c . O p e n - m a r k e t paper Other loans 1,,412 2,,515 548 1,,515 3, 619 973 3, 070 4, 4 6 8 1, 355 3,,344 6, 354 1,,735 3,,481 6,,953 2,,023 3,,931 8, 198 2,,280 4, 146 9, 8 9 9 3, 681 942 593 432 1, 367 770 509 1, 735 951 427 2, 697 1, 112 810 2, 4 6 0 1, 5 5 9 911 3, 139 1, 915 864 3, 044 2, 2 2 2 952 43 44 45 S e c u r i t y debt T a x e s payable Miscellaneous liabilities 1, 5 8 2 348 11, 013 2, 068 495 12, 5 5 0 2, 5 8 8 708 13, 8 8 7 2, 960 868 15, 2 9 4 2. 681 1, 0 9 8 16, 719 3, 056 1, 4 3 4 18, 948 3, 445 1, 903 20, 688 4 , 4 5 0 43 1,634 44 22,435 45 4 6 Net worth 47 A p p r o x i m a t e share stock cos. 48 A p p r o x i m a t e share other cos. 24, 607 18, 171 6, 436 25, 8 1 4 18, 783 7, 031 27, 148 19, 936 7, 2 1 2 29, 5 9 5 2 1 , 269 8 , 326 31, 338 22, 462 8,876 33, 5 4 0 2 4 , 308 9, 2 3 2 35, 463 2 5 , 374 10, 089 4 0 , 4 8 9 46 29,216 47 11,273 48 49 M e m o : Market value of e q u i t i e s 2 1 , 694 21, 679 24, 017 24,8 3 4 2 6 .8 7 9 30, 669 2 8 , 754 33,991 49 Data are in m i l l i o n s of d o l l a r s . 51,,635 20,• 3 6 7 3,,666 28 29 30 31 32 60,389 33 33,295 34 3,426 35 6,109 10,094 3,604 3,250 2,373 867 36 37 38 39 40 41 42 May 1987 Private Financial Institutions Private Financial Institutions S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost 27 Year-End Outstandings Year-End O u t s t a n d i n g s 1955 1956 1957 1958 Private Financial 1959 1960 1961 1 2 5 5 ,997 5 ,113 884 ,928 6i 5 ,841 1,,087 7 ,591 6 ,294 1,,297 8 ,160 6 .645 1 ,515 8 ,904 7 ,172 1 ,732 9 ,555 7 ,607 1 ,948 10 .284 8 ,065 2 .219 4 4 2 7 ,303 4 5 2 ,772 476 ,690 5 2 3 ,161 5 5 8 ,559 5 9 7 ,191 657 .006 5 6 7 7 ,687 696 224 7 ,819 862 159 8 ,077 999 125 8 .717 1 ,335 160 8 ,554 1 ,448 82 8 ,937 1 ,442 125 10 ,044 1 .754 168 9 - - - - 1962 Institutions - - - 11 .338 T a n g i b l e assets N o n r e s . plant 8 equipment 8 .898 Land 2 .440 705 .635 T o t a l 10 .981 1 .919 160 " f i n a n c i a l assets Demand deposits 8 currency S m a l l time 8 s a v i n g s d e p . L a r g e time d e p o s i t s F e d . funds & s e c u r i t y R P s Foreign deposits Corporate equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e & local o b l i g a t i o n s C o r p o r a t e 8 foreign b o n d s 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 25 .530 401 ,927 90 » 685 5:,351 2 6 ,449 65,,157 36 ,361 4 3 4 ,585 99 ,556 3 ,942 30 ,508 70 .687 4 2 ,634 4 6 3 ,227 92 ,640 3 ,138 32 ,791 74 ,907 46,,239 497,,022 94 ,274 4 ,022 34 ,835 79,,545 61 536 100 4 38 84 .385 .367 .520 .840 .685 .913 5 7 .917 5 8 3 .978 101 .974 6 ,730 4 4 ,443 90 .872 112,,799 34 ,872 4 4 ,316 1 ,007 , 7 ,365 967 121,,385 37,,445 46,,150 1 ,319 , 8 ,679 1,,307 133 .645 37 ,567 46 ,642 1 ,797 9 ,047 1 ,194 148 ,301 43 ,670 53 ,262 2 ,468 10 ,899 1 ,151 161,,284 48,,423 56,,787 2,,405 13,,420 2,,027 177 50 59 2 14 2 .338 ,688 ,868 ,707 ,125 ,683 197 ,873 5 5 ,639 65 ,860 3 ,141 14 ,796 2,,650 Mortgages C o n s u m e r credit Bank loans n . e . c . O p e n - m a r k e t paper O t h e r loans C u s t . l i a b . on a c c e p t a n c e s 16 17 18 19 20 21 8 ,645 21 ,687 1 ,156 6 ,367 8 ,023 22,,320 1,,291 7,,655 7,,726 22,,369 1,,451 8,,486 9 ,172 21 ,753 1 ,599 9 .479 9 ,414 21 ,186 1 ,782 10 ,232 9,,615 20,,427 1.,934 11,,450 11 ,772 21 ,076 1 ,993 12,,447 12,,423 21,,973 2,,201 14,,083 S e c u r i t y credit Vault cash 8 c o m m . bank r e s . T r a d e credit Miscellaneous finan. assets 22 23 24 25 26 4 3 3 ,300 4 5 9 ,700 484,,281 531 ,321 5 6 7 ,463 606,,746 667,,290 716,,973 T o t a l a s s e t s 26 27 389 ,089 412,,853 435,,840 4 7 7 ,417 5 1 0 ,190 546,,015 599,,504 645 ,875 T o t a l l i a b i l i t i e s 27 28 29 30 31 32 114 ,678 106 ,096 116,,493 115,,660 115,,841 127,,703 121 ,409 1411,951 122,,979 153,,428 125,,022 165,,076 130,,140 183,,339 134.,711 209.,127 6 ,693 -205 6,,489 -210 6,,701 -313 9 ,290 -252 7 ,552 -28 11,,119 -262 13,,569 14 33 34 35 63 ,459 40,,498 4 ,858 66.,626 45.,679 5,,361 69,,277 51,,332 4.,283 72,,294 60,,436 4,,418 75,,606 69.,246 5.,630 78, 758 76, 728 6, 5 0 2 36 37 38 39 40 41 42 7 ,838 13 ,943 4,,528 9.,046 14,,796 5.,609 8,,714 16,,376 6.,354 13,,241 15 ,655 6 ,556 15.,818 19.,358 7.,733 5 ,611 2 ,387 1,,417 5,,110 2,,849 1,,228 5,,113 3.,644 1. 2 6 5 4,,406 3 ,395 1.,298 43 44 45 41,746 1 ,260 < 2 5 ,225 4,,158 1, 4 5 2 27,,303 4. 2 8 7 1, 635 30,,004 46 47 48 4 4 ,211 31,,223 12.,988 46, 8 4 7 32,,753 14,,094 49 37,,562 37,,154 10 11 12 15 14 15 2 4 ,144 356 ,697 96 ,028 3 ,156 2 2 ,825 5 4 ,857 25 378 91 2 24 58 16 17 18 19 20 21 100 ,739 31 ,706 38 ,750 942 7 ,052 642 22 23 24 25 ,946 ,697 ,684 ,864 ,140 ,683 Data are in m i l l i o n s of d o l l a r s . 16,,408 63 Checkable deposits S m a l l time 8 savings d e p . M o n e y m a r k e t fund shares L a r g e time d e p o s i t s Fed. funds 8 security RPs 28 29 30 31 32 82,,112 88,,649 7,,948 85,,754 93,,295 7,,597 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 33 34 35 17, 026 22, 985 9, 112 22,,875 24,,869 9,,262 21,,271 27,,943 9,,222 5,,441 4,,050 2,,134 6,,117 5, 775 1,,981 6,,643 6,,302 2,,662 7,,764 7,,478 3, 4 7 9 M u t u a l fund s h a r e s Credit market instruments Corporate bonds Mortgages B a n k loans n . e . c . O p e n - m a r k e t paper Other loans 36 37 38 39 40 41 42 4,,848 1,,698 32,,429 4,,887 1,,387 34,,327 5, 382 2, 364 35.,315 6,,256 1,,392 38,,341 7,,066 1, 947 40, 693 S e c u r i t y debt Taxes payable Miscellaneous liabilities 43 44 45 48, 441 33, 4 4 7 14, 994 53,,904 37,,315 16,,589 57,,273 39,,568 17,,705 60, 731 41, 602 19.,129 67,,786 46,,778 21,,008 46 71, 098 Net w o r t h A p p r o x i m a t e share stock c o s . 4 7 48, 064 A p p r o x i m a t e share other c o s . 4 8 23. 034 45, 5 8 6 59,,559 73,,182 75. 8 7 4 117,,925 90. 5 2 9 M e m o : M a r k e t value of e q u i t i e s 49 M a y 1987 Private Financial it- Institutions Private Financial Institutions S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost End O u t s t a n d i n g s Year-End Outstandings Private Financial 1 Tangible assets 2 N o n r e s . plant 8 e q u i p m e n t 5 Land 4 Total financial assets 5 6 7 8 9 Demand deposits 8 currency S m a l l time 8 s a v i n g s d e p . L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s Foreign deposits 10 11 12 13 14 15 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities S t a t e 8 local o b l i g a t i o n s Corporate 8 foreign bonds Institutions 12 ,237 9 ,615 2 ,622 13 ,727 10 ,843 2 ,884 15 ,576 12 ,460 3 ,116 17 ,477 14 ,188 3 ,289 19 ,185 15 ,935 3 ,250 2 2 ,124 18 ,753 3 ,371 24 ,931 21 ,340 3 ,591 2 7 ,821 2 4 ,097 3 ,724 1 2 3 771 ,099 8 4 5 ,883 926 ,917 974 ,731 1076 ,156 1184 ,334 1239 ,894 1339 ,704 4 11 ,048 2 ,046 141 11 ,267 2 ,236 224 11 ,665 2 ,252 211 11 ,320 2 ,073 393 11 ,658 2 ,266 959 12 ,346 2 .105 1 ,201 107 12 ,007 1 ,664 1 ,021 336 12 ,465 2 ,080 ,786 442 5 6 7 8 9 - ~ 70 ,645 633 ,523 98 ,428 7 ,237 48 ,825 96 ,860 83 691 99 8 52 103 ,549 ,479 ,740 ,111 ,403 ,921 98 753 95 9 57 111 - .776 439 ,561 ,119 ,099 ,655 94 ,401 801 ,143 92 ,118 10 ,727 5 9 ,718 120 ,886 122 864 96 14 70 133 ,298 .430 ,182 ,090 ,160 ,310 145 939 98 17 79 142 2 9 2 ,558 8 6 ,037 106 ,449 5 ,324 23 ,723 3 ,603 310 91 112 7 24 4 ,681 ,014 ,914 ,446 ,316 ,317 333 .355 101 .676 126 ,683 7 .514 2 7 .796 4 .428 16 17 18 19 20 21 Mortgages C o n s u m e r credit Bank loans n.e.c. O p e n - m a r k e t paper Other loans C u s t . l i a b . on a c c e p t a n c e s 223 62 72 3 16 2 ,583 ,972 ,926 ,170 ,632 ,890 249 .213 71 .292 81 .130 3 .577 18 .707 3 .385 2 7 4 ,728 8 0 ,223 96 ,941 3 ,511 21 ,210 3,,392 22 23 24 25 S e c u r i t y credit V a u l t cash 8 c o m m . bank r e s . Trade credit Miscellaneous finan. assets 15 21 2 14 ,083 ,308 ,332 ,973 15 ,045 2 2 ,382 2 ,484 17,,217 15,,263 23,,298 2,,649 19,,364 26 Total assets 783 ,336 859,,610 27 Total liabilities 708 ,051 28 29 30 31 32 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 security RPs 136 ,925 2 3 4 ,662 33 34 35 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 36 37 38 39 40 41 42 43 44 45 15 25 2 21 .141 ,080 ,701 ,021 ,689 .217 - 141 ,031 998 ,102 8 5 ,087 18 81 ,238 150 ,453 - ,361 ,256 ,990 ,661 ,798 ,518 10 11 12 13 14 15 ,063 ,592 ,020 ,092 ,284 ,451 375 ,439 115 ,495 150 ,726 14 ,694 37 ,877 7 ,058 16 17 18 19 20 21 .659 ,054 ,476 ,165 20 .021 29 ,405 3 .898 32 ,409 20 ,174 31,,197 4,,370 40,,573 22 23 24 25 355 111 144 11 35 5 150 1076 91 25 93 163 .824 ,244 ,898 .435 20 ,498 27,,023 3,,176 23,,848 942,,493 992 .208 1095,,341 1206 ,458 1264 ,825 1367,,525 26 777,,796 855,,387 903 ,781 1000,,120 1102 ,502 1162 ,385 1266,,342 27 143,,641 260,,196 148,,953 287,,330 150 ,759 305 ,206 162,,896 339,,846 176 ,210 366 ,518 180 ,864 380 ,605 2 0 ,353 26 25,,119 540 31,,033 1,,749 33 ,356 1 ,674 39,,269 1,,659 46,,009 2,,586 30 ,485 8 ,707 190,,202 28 411,,437 29 30 54,,692 31 4 ,650 32 8 9 ,860 105 ,689 7 ,382 94,,172 120,,197 7,,402 98, 8 6 3 135, 050 7, 704 103,,450 143,,322 12,,002 108,,335 164,,000 12,,634 113,,138 184,,199 16,,234 118 ,110 193 ,193 23,,513 123,,345 33 211, 657 34 18, 939 35 M u t u a l fund s h a r e s Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. O p e n - m a r k e t paper Other loans 2 5 ,214 33,,472 10,,530 29,,116 38,,847 12,,834 35, 2 2 0 45, 2 6 7 15, 051 34,,829 49,,072 15,,275 44, 307 47, 968 15,,954 9,,417 8,,741 4,,784 9,,952 10,,736 5,,325 12, 2 9 0 11, 929 5, 997 11,,200 15,,662 6,,935 9, 2 1 7 18, 411 4, 386 51,,232 53,,946 16,,400 200 10,,691 21,,396 5,,259 47,,587 70,,807 17,,226 430 11,,112 32,,750 9,,289 S e c u r i t y debt Taxes payable Miscellaneous liabilities 7,,739 1,,548 45,,181 8, 377 1, 759 48, 4 3 0 8, 737 1, 786 53. 695 9,,576 1,,741 58,,794 12, 745 548 64, 913 16,,199 1, 708 74, 523 13, 173 894 93, 4 4 7 14, 153 43 2, 479 44 111, 221 45 75,,285 51,,209 24, 076 81, 8 1 4 55, 331 26, 4 8 3 8 7 , 106 57, 079 30, 0 2 7 88, 4 2 7 56, 5 5 9 31, 8 6 8 95, 221 60, 2 4 8 34, 973 103, 956 65, 099 38, 8 5 7 102, 440 64, 357 38, 103 101, 183 46 62, 017 47 39, 166 48 110, 586 118, 184 154, 980 139, 2 7 9 166, 929 2 3 7 , 926 212, 4 7 7 203, 406 49 4 6 Net w o r t h 47 A p p r o x i m a t e s h a r e stock c o s . 48 A p p r o x i m a t e s h a r e other c o s . 49 Memo: Market v a l u e of e q u i t i e s D a t a are in m i l l i o n s of d o l l a r s . 24 29 3 27 46, 811 76, 756 21, 002 546 11, 526 33, 067 10, 615 36 37 38 39 40 41 42 M a y 1987 Private Financial Institutions Private Financial Institutions S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t Cost 29 Year-End Outstandings Year-End Outstandings 1971 1972 1975 1974 1975 1976 1977 1978 Private Financial Institutions 1 2 3 51. 4 4 5 27. 5 5 8 5. 907 54, 772 50. 677 4, 095 4 0 , 124 55. 778 4. 546 49,,804 44,,950 4,,854 54,,669 50,,140 4,,529 61,,085 56,,408 4,,675 69,,058 64,,100 4,,958 4 1511, 765 1756, 964 1889. 8 8 6 1998,,251 2229,,427 2488,,790 2780,,570 5 6 7 8 9 15, 540 2, 984 5, 229 1,-168 15. 109 5. 5 5 9 5. 019 1. 667 15. 6 5 2 2, 910 6, 6 0 7 5,.709 16,,068 3,,278 12,,539 6,,107 18,,159 5,,270 22,,745 5,,059 18,,795 5,,535 20,,508 6,.682 21,,067 4,,171 24,,957 9,,633 14 25,,921 2,,248 57,,277 11 489 470 10 11 12 13 14 15 195,.570 1184,,787 91,,129 55,,841 110,,575 177,,512 257, 4 0 9 1337, 681 93, 956 44, 5 4 5 122,,126 194,,172 204, 8 1 9 1508, 577 83, 2 4 5 57,,218 131, 4 5 7 206,,976 158,,254 1648,>943 81 ,,325 65,,487 138,,595 225,.654 216,,161 1781,,479 124 4 9 4 76,,754 146,,332 256,,504 254,,963 1976,,380 161 ,,571 8b,,480 158,,677 285,,056 246,,970 2237,,745 168,,434 101 ,,474 181,,389 519,,152 265,,157 2544,,428 163,,790 123,,492 207,,647 554,,586 16 17 18 19 20 21 416,,425 128 • 691 162 .252 16,.471 40,.222 7,.889 476,,724 147,,121 188,,464 18,,552 45,,565 6,,898 542,,507 170,,287 257,,508 18,,164 52,,525 8,,892 580,.302 178 .896 278,.288 25,887 60,.025 18,.484 614 ,250 185,,666 264,.952 50,.444 65 .556 18 .727 677,,127 204,,452 271,.764 55 .406 75,.324 22,.525 775,,240 240,,794 500,,633 56,,452 90,.561 25,.654 880,.529 284,,325 559,.352 41,.142 104,.627 24,.958 Mortgages C o n s u m e r credit B a n k loans n . e . c . O p e n - m a r k e t paper O t h e r loans C u s t . l i a b . on a c c e p t a n c e s 16 17 18 19 20 21 22 25 24 25 25,.525 55,.529 4,.661 47,,170 52,,056 54,,295 5 ,842 64,,527 24,,500 57,,748 6 ,485 79,,299 20,.546 57 .485 7 .020 88,,213 25,.654 58 .504 7,.668 112,.968 54,,856 57,.279 8,.878 127,.516 58,.052 .40,.792 10,.176 146,.740 56,.821 46,.695 11,.656 182,.405 S e c u r i t y credit V a u l t cash 8 c o m m . bank res. Trade credit Miscellaneous finan. assets 22 25 24 25 26 1545 ,208 1771,,756 1950,.010 2048,,055 2284,.096 2549,.873 2 8 4 9 ,408 5244,.874 T o t a l a s s e t s 26 27 1450 ,927 1649,.881 1805,.200 1926 ,992 5065,.589 T o t a l l i a b i l i t i e s 27 28 29 50 51 52 2 0 5 ,402 4 7 9 ,829 223,.190 5 4 9 .479 256,,121 588,.698 68 ,115 8 ,666 86,.914 11,.156 55 54 55 129 ,626 2 4 5 ,224 12 ,545 56 57 58 59 40 41 42 - - - - ~ - 82,,512 T a n g i b l e a s s e t s N o n r e s . plant 8 equipment 76,,641 Land 5,,671 5162,,562 T o t a l f i n a n c i a l a s s e t s 2168,.184 2416,.517 2700,,777 126,.021 27,.590 256 626 2 167 50 ,087 ,409 ,579 ,087 ,277 2 4 4 .045 724,.577 5 .696 158 ,155 51 ,805 2 5 8 ,265 8 4 5 .930 5 .686 144 .277 45,,659 285,,729 940,.487 5,,887 172,,579 5 8 .155 510 .131 1005 .760 10 .808 227,.177 82,.781 156 .549 2 9 0 ,174 9 .884 145 .522 2 9 4 .507 5 .575 150 ,528 2 9 8 ,515 2 ,059 158 ,474 589 ,787 -9,,595 167 .075 4 5 0 .170 - 1 7 .585 176,.586 495,.940 -24,.154 5 5 ,446 81 ,419 2 5 ,906 680 15 .050 55 ,847 7 ,956 5 8 ,926 96 .552 52 ,955 1 ,160 19 .520 54 ,720 7 ,979 4 6 ,655 125 ,449 57 ,595 1 ,480 2 7 ,757 41 ,672 15 ,147 55 ,151 150 ,686 4 0 ,475 1 ,649 51 ,641 5 5 ,119 21 ,804 45 151 47 2 28 56 17 46 159 55 2 24 62 15 .510 .595 ,872 ,416 .985 .458 ,862 45 44 45 15 ,299 2 ,443 128 ,915 19 ,502 2 ,450 165 ,545 16 ,075 2 ,608 196 ,999 13 ,150 2 ,693 211 ,975 16 ,054 2 ,457 2 5 5 ,998 46 47 48 112 ,281 67 ,552 4 4 ,929 121 ,855 71 ,429 5 0 ,426 124 ,810 75 ,467 51 ,545 121 ,065 67 ,028 5 4 ,035 49 2 5 5 ,628 2 6 9 ,262 2 1 0 ,422 151 ,576 Data are In m i l l i o n s of d o l l a r s . Demand deposits 8 currency S m a l l time 8 s a v i n g s dep. L a r g e time d e p o s i t s F e d . funds 8 security R P s Foreign deposits Corporate equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 1 2 5 4 5 6 7 8 9 10 11 12 13 14 15 Checkable deposits S m a l l time 8 savings dep. M o n e y m a r k e t fund shares L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s 28 29 30 51 52 187 .257 575,.766 -14,.050 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 55 54 55 45,.491 188,,217 65,.857 2,.428 24,.645 75,.154 20,.175 4 6 .050 2 2 5 .821 75 .686 1 .960 26 .428 8 9 .077 52,.670 M u t u a l fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. O p e n - m a r k e t paper Other loans 56 57 58 59 40 41 42 2 3 .945 2 ,929 2 8 5 .885 2 4 .871 5 .846 551 .343 2 4 .907 4 .759 582,.242 S e c u r i t y debt Taxes payable Miscellaneous liabilities 45 44 45 115 ,912 59 ,947 5 5 ,965 155 ,556 69 ,474 64 ,082 148 .651 73 .303 75 ,528 46 179 .485 Net w o r t h A p p r o x i m a t e share stock cos. 4 7 8 0 .670 A p p r o x i m a t e share other c o s . 48 98 ,815 149 ,868 198 ,600 185,,059 189 .594 M e m o : M a r k e t ,054 ,759 ,561 ,028 ,076 ,429 ,845 value of e q u i t i e s 49 H a y 1987 Private Financial Institutions 3 0 Private Financial Institutions S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End Outstandings 1979 1980 1981 1982 Private Financial 1 Tangible assets N o n r e s . plant 8 e q u i p m e n t 2 Land 3 4 Total financial assets 5 6 7 8 9 10 11 1? 13 14 IS Demand deposits & currency S m a l l time 8 s a v i n g s dep. L a r g e time d e p o s i t s F e d . funds & s e c u r i t y R P s Foreign deposits Corporate equities C r e d i t market i n s t r u m e n t s U.S. T r e a s u r y s e c u r i t i e s Federal agency securities S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 1983 1984 1985 1986 Institutions 92 ,098 8 6 ,374 5 ,724 105 ,837 99 ,350 6 ,487 120 ,073 112 ,741 7 ,332 129 ,202 121 ,513 7 ,689 136 ,757 128 ,580 8 ,177 149 ,535 140 ,616 8 ,919 162 ,161 153 ,009 9 ,152 178 ,481 168 .855 9 .626 3 5 8 0 ,922 4 0 3 0 ,986 4 4 2 4 ,309 4832,,276 5 4 0 8 ,762 6 0 7 9 ,577 6 9 5 7 ,828 7881 .254 4 2 9 ,581 2 ,850 62 ,146 2 0 ,885 6 ,769 33 ,157 3 ,231 8 5 ,432 37 .247 18 .846 39, 353 5 ,699 93 ,904 4 4 ,137 23,,759 41 ,321 7 ,313 91 ,037 5 7 ,017 21 ,911 57 9 90 91 19 ,065 ,565 ,285 ,935 ,027 60 .471 12 .992 99 ,182 108 .369 2 2 .193 5 6 7 8 9 794 5191 575 394 411 632 ,156 ,756 ,654 ,450 ,883 ,985 949 5852 701 502 456 719 .593 .666 ,602 ,125 ,844 ,084 10 11 12 13 14 15 26 2 4S 16 5 ,685 ,603 ,021 ,9S8 ,109 310 2863 177 143 227 382 ,554 ,365 ,433 ,858 ,898 ,899 404 3149 216 177 251 416 ,747 ,834 ,770 ,480 ,493 ,539 384 .102 3469 .246 256 ,581 216 .315 2 6 3 .195 4 4 4 .576 468,,660 3693 5 9 9 331 949 2 7 3 ,160 2 8 3 ,121 469,,361 600 4085 398 338 297 509 ,969 ,488 ,492 ,023 ,828 ,134 598 4634 475 566 318 568 1093 344 509 141 149 51 .240 ,477 ,235 .109 .434 .084 1084,,806 361, 8 8 7 526 814 148,,697 154,,985 58,,819 1181 410 556 157 170 65 ,157 ,709 ,473 ,440 ,560 ,672 1327 ,986 4 9 4 ,100 613 ,240 199 ,818 201,,486 69,,432 1457 ,902 5 7 9 ,313 653 ,737 201 ,585 2 2 4 ,275 59,,972 1581 642 729 222 241 56 ,226 ,365 ,110 ,032 ,478 ,800 16 17 18 19 20 21 60 42 22 378 ,796 ,442 ,239 ,229 63,,548 46,,057 25,,000 470,,799 90,,660 54,,168 27,,190 532,,021 82 73 29 589 ,772 ,766 ,660 ,590 22 23 24 25 16 17 18 19 20 21 Mortgages C o n s u m e r credit Bank loans n . e . c . O p e n - m a r k e t paper O t h e r loans C u s t . liab. on a c c e p t a n c e s 978 323 409 67 119 32 ,889 ,580 ,715 ,179 ,444 ,465 1042 327 456 89 131 39 ,189 ,169 ,951 ,707 ,746 ,790 23 24 25 S e c u r i t y credit Vault cash 8 c o m m . b a n k r e s . T r a d e credit Miscellaneous flnan. assets 37 48 13 208 ,090 ,280 ,591 ,626 44 47 15 246 ,388 ,263 ,575 ,948 4 7 .285 4 3 .851 18 .117 2 8 3 .795 50,,977 4 6 ,021 20.,242 340.,925 43 6 89 80 21 ,770 ,940 ,040 ? 4t>0 ,213 1 2 3 ,064 ,686 ,082 ,332 ,740 ,470 26 T o t a l a s s e t s 3673 ,020 4 1 3 6 ,823 4 5 4 4 .382 4961,,478 5 5 4 5 ,519 6229,,112 7119,,989 80591,735 2 6 27 Total liabilities 3461 ,362 3887 ,286 4 2 8 7 .166 4698, 704 5258,,007 5900,,036 6751.,672 7 6 5 4 ,731 2 7 337 1066 45 255 100 ,717 ,854 ,214 ,077 ,709 349 ,298 1149 ,218 74 ,448 316 ,326 123,,254 366 1196 181 377 140 ,501 ,796 .910 .916 .642 393, 8 8 8 1335, 390 206,,607 396, 153 148, 143 421 1551 162 382 177 ,110 ,846 ,549 ,512 ,619 457,,970 1702,,664 209.,732 470,,000 201, 305 5 2 4 773 1842, 8 4 2 207, 5 3 5 488, 9 8 2 224, 9 3 4 634,,026 1960 ,203 2 2 8 ,383 496,,104 265,,834 256, 4 5 3 33 1800, 651 34 - 5 3 , 2 4 7 35 28 29 50 31 32 Checkable deposits Small time 8 savings d e p . M o n e y m a r k e t fund shares L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s 33 34 35 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 197 ,675 679,,759 5 ,095 207,,364 8 3 7 ,469 -26,,885 2 1 6 .308 901 ,550 - 5 1 ,758 223, 2 7 9 1054, 496 - 1 0 9 , 673 231,,100 1246 ,281 - 1 0 8 ,,646 236 • 066 1347, 231 - 9 2 ,,624 246, 5 0 7 1589, 4 8 5 - 6 8 , 125 36 37 38 39 40 41 42 M u t u a l fund shares Credit market instruments Corporate bonds Mortgages B a n k loans n . e . c . O p e n - m a r k e t paper Other loans 51 ,789 265.,777 79 ,148 1,,950 26,,927 115,,914 41. 8 3 8 63,,745 286,,386 80,,765 1,,910 25,,909 128,,839 4 8 ,963 64 • 0 1 7 340 ,917 8 5 ,172 1 ,930 2 7 ,102 161 ,519 65 ,194 90, 009 368.878 97, 6 8 9 2, 043 28,,970 174, 175 66, 001 130,,148 3 9 5 ,322 109,,984 2,,068 28.,854 195,,463 5 8 ,953 162,,458 459, 4 6 2 133,,318 2, 4 7 9 29, 5 1 8 219, 5 2 6 74,,621 282, 9 8 7 546, 491 170, 5 1 4 2, 668 32, 078 252, 396 88, 8 3 5 485, 075 625, 461 192, 797 2, 721 35,,658 285, 640 108. 645 43 44 45 S e c u r i t y debt Taxes payable Miscellaneous liabilities 25,,971 4.,997 424.,728 32.,002 3.,607 471.,054 34 ,472 2 ,043 5 1 5 ,852 38, 096 1, 994 551, 444 41.,879 2.,003 624.,284 47, 096 1, 8 6 3 696, 8 1 3 69, 956 2. 044 793. 261 64, 5 0 4 4 3 1, 8 4 3 4 4 8 8 9 , 441 4 5 4 6 Net w o r t h A p p r o x i m a t e share stock c o s . 47 A p p r o x i m a t e share other c o s . 48 211,,658 100. 974 110. 684 249, 5 3 7 127. 683 121,,854 2 5 7 ,216 133 ,442 123 ,774 2 6 2 . 774 136. 8 4 1 125. 933 287,,512 152,,639 134, 8 7 3 329, 076 198, 725 130, 351 368, 317 2 2 8 , 363 139, 954 405, 004 4 6 238, 766 4 7 166, 2 3 8 4 8 49 M e m o : M a r k e t value of e q u i t i e s 221.,174 248, 6 9 2 2601,591 304. 603 340, 6 9 7 359, 389 4 9 5 . 018 5 3 4 . 748 4 9 Data are in m i l l i o n s of d o l l a r s . 28 29 30 31 32 36 37 38 39 40 41 42 May 1987 All S e c t o r s — F l o w s All S e c t o r s — F l o w s Stock-Flow Reconciliation for C o n s o l i d a t e d D o m e s t i c Net A s s e t s 31 Annual Flows Annual Flows 1954 1952 1949 Domestic Investment 1 2 5 55 ,472 2 8 ,575 2 6 ,899 69 ,999 55 ,058 36 ,961 61 ,521 36 ,115 2 5 ,408 8 5 ,849 59 ,458 4 6 ,591 90 ,342 4 5 ,663 4 4 ,679 8 2 ,782 49 ,708 35 ,074 8 7 ,600 53 ,341 34 ,259 4 5 9 ,855 36 ,752 3 .108 41 069 1 ,297 2 6 ,705 - 2 ,249 4 4 ,142 656 4 5 ,335 323 33 ,397 - 1 ,729 32 ,530 - 2 6 1 + Net f o r e i g n i n v e s t m e n t 2 8 ,514 * Net i n v e s t m e n t flows by d o m e s t i c s e c t o r s A d j u s t m e n t s for 6 7 55 ,482 12,,248 8 -1 9 10 525 11 -151 768 6 ,102 2 0 ,087 9 ,082 -1 - -24 725 38 ,869 19 ,795 32 ,535 17 ,163 -2 - 1,,552 -842 11 ,096 8 ,766 2 ,047 7 ,425 - - 755 1 ,743 - -144 -21 5 120 1 55 76 60 -51 flows: 8 6 ,166 P u r c h a s e of p h y s i c a l a s s e t s 5 7 ,591 - C a p i t a l c o n s u m p t i o n 2 8 ,575 * Net c a p i t a l f o r m a t i o n tangible assets: R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets 2 ,687 15 ,036 C h a n g e in land v a l u e s L e s s : A d j u s t m e n t s of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t b a s i s -3 A d j u s t m e n t s to net f o r e i g n i n v e s t m e n t : 2 6 3 R e v a l . of net f o r e i g n c l a i m s R e v a l . of SDR h o l d i n g s F o r e i g n p u r c h a s e s of U.S. c o r p o r a t e e q u i t i e s U . S . p u r c h a s e s of foreign e q u i t i e s 256 135 9 10 11 12 12 -15 15 -18 24 15 104,,670 69 ,804 35,,549 104,,517 94,,237 53,,955 45 ,851 4 6 ,182 14 104,,670 69 ,804 55,,549 104,,317 94,,237 53,,935 45 ,851 By sector: 46,,182 T o t a l , all s e c t o r s 15 16 17 18 19 20 21 92,,529 115,,942 60,,455 8 ,606 15 ,315 28,,267 1,,519 61 ,292 70 ,965 59 ,826 2 ,251 8 ,505 19 ,174 1 ,207 36 ,694 57,,157 55,,420 -1,,045 11,,175 10,,273 1,,534 96,,741 147,,471 95,,172 18,,076 8,.628 25,, 148 2,,447 94,,385 138,,786 91,,119 11,,361 10,,498 24,,065 1,,743 61,,177 73,,600 58,,679 -302 - 2 ,,591 15,,612 2,,202 50,,910 46,,001 26,,844 -2,,018 4,,122 15,,150 1,,925 22 25 24 25,,518 1,,216 22,,102 10 ,599 4 ,781 5 ,818 10.,203 679 9,,524 25,,459 4,,556 21,,085 21,,063 1,,807 19,,256 - 2 ,,872 164 - 3 ,,036 2,,246 -155 2,,581 25 26 27 -2,,255 905 -5,,156 -1,,216 880 -2,,096 7,,754 568 7,,586 25,,944 458 25,,506 22,,493 1,,529 20,,964 15,,686 1,,111 12,,575 -8,,250 566 - 8 ,,796 70,,642 - C h a n g e In H H c o r p . e q u i t i e s Net p u r c h a s e s 305 Revaluation 70,,559 1,,075 1,,296 -221 4,,787 - C h a n g e / f i n . I n s t . c o r p . s h a r e s Net p u r c h a s e s 1,,755 Revaluation 3,,052 29 50 51 52 55 34 * Net c h a n g e In c o n s o l i d a t e d d o m e s t i c net w o r t h 55,,328 P r i v a t e s e c t o r s , c o n s o l i d a t e d S e c t o r basis# total 156,,497 Households 111,,017 Farm b u s i n e s s 1,,964 Nonfarm noncorp. business 5,,914 Nonfinancial corp. business 14,,576 P rivate finan. institutions 5 ,026 28 29 50 548 414 -66 288 561 -75 2,,506 878 1,,628 1,,547 989 558 845 725 120 51 52 55 54 14,550 112 14.210 7,604 -1,048 8,644 5,275 -1,991 7,258 4,180 -1,500 5,459 -7,028 -2,185 -4,874 51 -8,440 -2,026 8 -5,524 -1,764 -5,575 15 -6,451 17 • C h a n g e in net f i n a n . a s s e t s o f -9,565 public s e c t o r s -5,904 S t a t e & local g o v e r n m e n t s -5,475 U.S. government 14 Sponsored credit agencies 55 56 57 -1,802 1,808 -765 2,585 561 -799 817 2,285 -2,682 -2,215 1,249 485 -824 -5,059 1,595 - 1 , 7 64 -290 1,840 -2,410 1,255 2,556 -2,658 275 2,602 58 685,169 754,975 788,522 892,859 987,076 1041,011 1084,862 1151,044 59 255,256 261,615 260,565 288,255 555,406 551,624 571,556 Data are in m i l l i o n s of d o l l a r s . 26 21 20 21 5,,740 - C h a n g e In e q . l n noncorp.bus, 22 25 P r o p r i e t o r s ' net i n v e s t . - 1 ,,841 24 R e v a l u a t i o n of e q u i t y 7,,581 1, 609 1,,443 166 28 15 16 17 18 19 25 26 27 28 • Other adjustments: Nonfinancial discrepancy 35 U n a l l o c a t e d f i n a n c i a l flows 56 Unallocated revaluations 57 T o t a l d o m e s t i c net a s s e t s at y e a r end 572,495 Memo: G r o s s n a t i o n a l product 38 59 M a y 1987 All S e c t o r s — F l o w s All S e c t o r s — F l o w s 32 S t o c k - F l o w R e c o n c i l i a t i o n for C o n s o l i d a t e d D o m e s t i c Net A s s e t s Annual Flows Annual Flows 1955 Domestic Investment 1957 1958 flows: 1 P u r c h a s e of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net c a p i t a l f o r m a t i o n 108,,591 60 ,650 4 7 ,941 110 ,864 67 ,517 4 3 ,347 110 ,741 72 ,918 37,,823 100 ,673 76 ,260 2 4 ,413 122 ,980 79 ,780 4 3 ,200 121 ,645 8 2 ,586 39 ,059 119,,017 85,,200 33,,817 134,,670 8 7 ,799 46,,871 1 2 3 26 4 7 ,967 2 ,112 4 5 ,459 4,,568 42,,391 356 2 4 ,769 -1,,879 41 ,321 1 ,803 4 0 ,862 2,,833 36,,650 2,,264 49,,135 4 5 R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets 20.986 6 7 C h a n g e in land v a l u e s 16,870 L e s s : A d j u s t m e n t s of c a p i t a l c o n s u m p t i o n 8 to B a l a n c e S h e e t b a s i s -1 35,172 29,195 8,530 20,533 8-804 23,766 4,376 19,606 -2,946 21,605 -1,525 19,340 87 14,614 -3 -1 118 207 4 • Net foreign investment 5 « Net i n v e s t m e n t f l o w s by d o m e s t i c s e c t o r s A d j u s t m e n t s for tangible assets: A d j u s t m e n t s to net f o r e i g n i n v e s t m e n t : 9 R e v a l . of net f o r e i g n c l a i m s 10 R e v a l . of SDR h o l d i n g s F o r e i g n p u r c h a s e s of 11 U.S. corporate equities - U.S. p u r c h a s e s of 12 foreign equities 678 -162 - 9 10 127 256 147 -54 351 203 323 109 11 173 111 35 332 195 86 325 -25 » Net c h a n g e in (consolidated 13 d o m e s t i c net w o r t h 86,456 111,480 71,687 57,161 66,245 By sector: 14 T o t a l , all s e c t o r s 86 456 111.,480 71, 6 8 7 5 7 ,161 66 ,245 8 3 ,714 150,,741 108 ,562 2 ,828 8 ,436 2 7 ,193 3 ,722 110,,758 148,,917 92,,038 7,,317 11,,966 34,,960 2,,636 73, 977 48,,368 9, 399 6, 180 6,,432 24,,763 1,,594 2 2 - C h a n g e in e q . l n n o n c o r p . b u s . P r o p r i e t o r s ' net i n v e s t . 23 R e v a l u a t i o n of e q u i t y 24 11 ,066 - 1 ,923 12 ,989 18,,771 -1,,280 20,,051 12,,180 -913 13,,093 2 5 - C h a n g e in H H c o r p . e q u i t i e s Net p u r c h a s e s 26 Revaluation 27 4 9 ,545 175 4 9 ,370 17,,586 936 16,,650 28 - Change/fin.Inst.corp.shares Net p u r c h a s e s 29 30 Revaluation 6 ,416 1 ,642 4 ,774 15 P r i v a t e s e c t o r s , c o n s o l i d a t e d S e c t o r b a s i s , total 16 Households 17 Farm business 18 Nonfarm noncorp. business 19 Nonfinancial corp. business 20 Private finan. institutions 21 31 32 33 34 • C h a n g e in net f l n a n . a s s e t s of public sectors State 8 local governments U.S. government Sponsored credit agencies 35 36 37 • Other adjustments* Nonfinancial discrepancy Unallocated financial flows Unallocated revaluations 38 T o t a l d o m e s t i c net a s s e t s at y e a r end 39 M e m o : Gross national product D a t a are In m i l l i o n s of d o l l a r s . 12 58,,662 54,,606 ,892 ,393 ,405 ,906 ,422 ,291 ,369 60 ,959 62 ,836 4 5 ,538 944 5 ,136 7 ,760 3,,458 63 ,095 187,,985 157,,585 4,,904 5,,687 12,,754 7 ,055 15 ,852 222 15 ,630 8 ,125 - 2 ,568 10 ,693 6 ,014 - 2 ,503 8 ,517 10,,247 448 9,,799 11,,725 2 2 196 23 11,,529 2 4 - 3 7 ,,373 474 - 3 7 ,,847 101 ,402 -49 101 ,451 2 6 ,103 - 1 ,158 2 7 ,261 - 7 ,742 - 1 ,967 - 5 ,775 99,,497 -1,,847 101,,344 -61,,767 25 -3,,753 26 -58,,014 2 7 1,,802 1,,498 304 -416 2,,194 - 2 ,,610 10 ,831 2 ,605 8 ,226 6 ,273 3 ,347 2 ,926 3 ,605 3 ,416 189 15 ,146 4 ,404 10,,742 -3,,468 2 8 4,,228 29 -7,,696 30 -572 -4,243 3,653 18 934 -3,363 4,284 13 -2,832 -4,328 1,458 38 -15,910 -4,797 -11,148 35 -6,710 -3,659 -3,081 30 -1,263 -3,223 1,929 31 -9,809 -4,068 -5,787 46 -7,734 -3,292 -4,497 55 -1,804 3,005 2,113 1,895 -530 -1,577 1,172 473 -1,103 219 -843 -268 1.545 -687 -1,795 2,807 -894 -2,947 1,209 491 -380 - 6 7 35 - 5 4 1 36 - 8 4 5 37 1217,500 1328,980 1457,828 1524,073 1582,735 1637,341 1701,150 38 428,212 456,736 495,805 515,323 533,815 5 7 4 , 6 4 5 39 73 202 164 9 6 15 5 ,963 ,048 ,759 ,748 ,787 ,291 ,463 73 114 82 2 5 20 3 63,,809 14 72 ,996 19 486 - 9 ,606 5 ,066 7 ,013 13 ,701 3 ,312 15 16 17 18 19 20 21 31 32 33 34 All S e c t o r s — F l o w s All S e c t o r s - F l o w s Stock-Flow Reconciliation for Consolidated Domestic Net Assets 3 3 An Annuel F l o w s 1963 1964 1965 1966 1967 1968 1969 '"" 1 F1< " 1970 Domestic Investment flows* 1 2 5 144,,905 91,,280 55 ,625 4 5 4,,052 57 ,677 156,,475 95,,666 60,,807 5 • 914 66 ,721 179. 610 100,.628 78,,982 197,,155 107,,489 89,,646 196 ,514 116 ,768 79 ,546 218•006 127,999 90,007 4,,975 8 5 ,955 5 ,661 95 ,507 2 ,577 81 ,925 1,060 91,067 239,444 141,450 97,994 -1,044 96,950 234,465 Purchase of physical assets 154,577 - Capital consumption 79,888 * Net capital formation 2,115 • Net foreign investment 8 2 , 0 0 $ * Net investment flows by domestic sectors 1 2 3 4 5 Adjustments for tangible assets: -5,937 16,613 12,772 21,429 12,006 23,038 45,470 40,265 56,007 17,058 95,366 24,242 91,769 24,744 -2 9 10 11 12 13 225 111 1,653 33 -292 -400 210 66,737 298 -652 -347 584 -505 698 2,097 1,565 -255 50 155 467 Revaluations of reproducible 77,548 tangible assets 18,861 Change in land values Less: Adjustments of capital consumption to Balance Sheet basis 8 Adjustments to net foreign investment: - 2 , 2 1 5 Revel, of net foreign claims 8 6 7 Reval. of SDR holdings 9 10 Foreign purchases of 697 U.S. corporate equities - U.S. purchases of 68 foreign equities 118,336 177,817 155,006 212,274 215,146 * Net change in consolidated 177,495 domestic net worth 118,356 177,817 155,006 212,274 215,146 By sectors 177,495 Total, all sectors 119,529 164,075 13,044 9,346 29,265 5,292 179,404 142,455 75,472 7,534 19,991 40,115 1,521 154,280 534,155 275,102 9,934 7,368 56,955 6,794 225,229 407,308 321,531 10,874 20,558 45,610 8,735 207,692 121,727 37,622 8,788 18,105 58,728 -1,516 191,682 Private sectors, consolidated 202,464 Sector basis, total 131,137 Households 6,199 Farm business 12,445 Nonfarm noncorp. business 53,940 Nonfinancial corp. business -1,257 Private finan. institutions 6 7 11 12 15 66,737 102,075 70,015 167,096 136,620 5,990 6,267 14,032 4,187 108,084 183,087 138,009 5,894 9,708 22,947 6,529 22 11,837 1,639 10,198 15,190 -651 15,841 21,477 316 21,161 26,997 -785 27,782 16,607 -950 17,557 50,671 -1,932 52,605 26,278 -4,467 50,745 25 72,516 -4,005 76,521 46,909 -2,178 49,087 64,787 -5,329 70,116 -59,595 —4,557 -55,256 155,549 -7,205 142,554 150,565 -12,504 142,869 -108,133 -8,567 -99,566 - 1 6 , 7 5 8 - Change in HH corp. equities -4,261 Net purchases -12,497 Revaluation 25 -4,110 12,211 -16,521 9,550 - Change/fin.Inst.corp.shares 11,508 Net purchases -1,978 Revaluation 28 • Change in net finan. assets of -17,098 public sectors -4,674 State 8 local governments -12,441 U.S. government 17 Sponsored credit agencies 15 16 17 18 19 20 21 23 24 26 27 221,020 12,728 3,889 8,839 12,904 3,997 8,907 15,227 29 30 6,026 9,201 -4,575 5,744 -10,119 27,897 9,054 18,865 31 32 33 34 -3,474 -2,019 -1,514 59 -6,737 -3,042 -3,744 49 -5,781 -2,905 -951 55 -5,657 -2,463 -5,240 46 -18,194 -4,803 -13,433 42 -14,575 -5,114 -9,476 15 —5,539 -9,997 6,425 35 35 36 37 605 939 -1,348 1,395 -455 -212 1,241 1,833 -486 -2,104 313 5,861 576 78 -1,554 4,475 -1,976 1,121 5,896 10,321 -5,224 239 5,869 -3,197 38 1767,887 1869,962 1988,298 2166,115 2515,595 2728,541 2906,036 39 606,898 649,774 705,099 771,982 892,652 965,946 Date are in millions of dollars. 816,582 18 19 20 21 18,210 - Change in eq.in noncorp.bus. 22 23 -5,577 Proprietors' net invest. 24 25,787 Revaluation of equity 22,845 10,829 12,014 28 15 16 17 26 27 29 30 31 32 33 34 • Other adjustments: Nonfinancial discrepancy 35 Unallocated financial flows 36 Unallocated revaluations 37 Total domestic net assets at year end 1015,458 Memo* Gross national product 38 39 M a y 1987 All S e c t o r s - F l o w s 34 All S e c t o r s — F l o w s S t o c k - F l o w R e c o n c i l i a t i o n for C o n s o l i d a t e d D o m e s t i c Net A s s e t s Annual Flows Annual Flows 1971 1973 2 7 0 ,070 169,,383 100 ,687 313,,207 184,,349 128 ,858 363 ,507 201 ,554 161 ,953 364,,616 231,,333 133,,283 354,,920 268, 788 86,,132 439,,142 297,,791 141,,351 5 2 8 ,552 332 ,704 195 ,848 622,,423 376,,700 245,,723 1 2 3 4 • Net foreign invt tment 5 = Net i n v e s t m e n t flows by d o m e s t i c s e c t o r s - 1 1 ,,211 8 9 ,476 - 7 ,,676 121,,182 4,,483 166 ,436 2,,515 135,,798 00 Domestic investment flows: 1 P u r c h a s e of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net c a p i t a l f o r m a t i o n 23, 110,.110 14,,747 156,,098 -16,,524 179,,324 -2,,470 243,,253 4 5 116,583 70,835 220,679 128,834 428,396 102,848 220,562 101,560 257,848 175,915 358,078 209,218 545,618 294,850 77 1,693 -2,810 -2,760 36 -1,170 -105 2,528 -18 -3,334 106 4,304 9 67 10 836 2 ,434 2 ,763 539 4 ,667 2 ,753 2 ,675 2 ,422 11 27 -412 -199 -249 184 322 409 - 5 2 7 12 = Net change in c o n s o l i d a t e d 13 domestic net worth 240,,604 313 ,216 5 1 7 ,486 665,,107 4 3 5 ,441 5 9 4 ,805 745 ,659 1091 ,042 13 By sector: 14 T o t a l , all s e c t o r s 2 4 0 ,604 313 ,216 5 1 7 ,486 665 ,107 4 3 5 ,441 5 9 4 ,805 745 ,659 15 P r i v a t e s e c t o r s , c o n s o l i d a t e d 16 S e c t o r b a s i s , total 17 Households 18 Farm business 19 Nonfarm noncorp. business 20 N o n f i n a n c i a l corp. b u s i n e s s 21 Private finan. institutions 267 448 325 18 22 70 11 325 516 365 34 32 74 9 514 408 159 77 52 116 2 ,983 ,789 ,179 ,577 ,827 ,251 ,955 708 ,142 557,,338 189 ,715 31,,112 70,,682 269,,576 -3,,747 501 791 551 57 40 147 -5 647 926 627 70 65 145 17 786 885 552 51 102 163 15 A d j u s t m e n t s for tangible a s s e t s : R e v a l u a t i o n s of r e p r o d u c i b l e 6 tangible assets 111,802 7 C h a n g e in land v a l u e s 38.633 L e s s : A d j u s t m e n t s of capital c o n s u m p t i o n 8 to B a l a n c e Sheet basis -2 A d j u s t m e n t s to net foreign i n v e s t m e n t : 9 R e v a l . of net foreign claims -835 717 10 R e v a l . of SDR h o l d i n g s F o r e i g n p u r c h a s e s of 11 U.S. c o r p o r a t e e q u i t i e s - U . S . p u r c h a s e s of 12 foreign e q u i t i e s 22 - C h a n g e in eq.in n o n c o r p . b u s . 23 P r o p r i e t o r s ' net i n v e s t . 24 R e v a l u a t i o n of e q u i t y ,335 ,600 ,552 ,869 ,951 ,130 ,098 ,472 ,416 ,371 ,910 ,330 ,231 ,574 1,382 ,460 ,825 ,480 ,006 ,667 ,823 ,151 ,275 .935 ,092 ,688 ,589 ,922 ,644 ,675 ,016 ,351 ,738 ,497 ,355 ,075 1091 ,042 14 1109 ,953 1390 ,545 8 4 8 ,699 105 ,774 152 ,014 253 ,204 30 ,854 15 16 17 18 19 20 21 4 0 ,499 - 3 ,666 44,,165 64,,796 -7,,605 72 ,401 124 ,974 - 6 ,899 131 ,873 99,,616 -14,,888 114,,504 93,,683 - 1 4 ,121 107,,804 131,,328 - 2 3 ,666 154,,994 150 ,614 - 2 7 ,813 178,,427 250,,384 2 2 -30,.192 23 280,,576 24 2 5 - C h a n g e in H H c o r p . e q u i t i e s 26 Net p u r c h a s e s 27 Revaluation 95,,557 - 6 ,380 101,,937 84,,309 -9,,858 94,,167 - 1 9 8 ,578 - 4 .315 - 1 9 4 ,263 - 2 0 3 ,,855 - 1 ,,037 - 2 0 2 ,,818 138,,775 -7,,308 146 ,083 109,,530 -430 109,,960 - 4 4 ,280 -8,,179 —36,,101 12,,021 2 5 -6,,233 2 6 18,,254 2 7 28 - C h a n g e / f i n . i n s t . c o r p . s h a r e s 29 Net p u r c h a s e s 30 Revaluation 4 5 ,209 19,,228 25,,981 41,,839 21,,219 20,,620 - 3 2 ,590 11 ,944 - 4 4 ,534 -46, 565 5,.325 -51, 890 57,,907 13,,550 44,,357 38,,802 10,,736 28,,066 - 7 ,,993 11,,138 - 1 9 ,,131 18, 187 2 8 5, 575 29 12,,612 30 - 3 3 ,,462 - 1 0 ,,051 - 2 3 ,,506 95 - 1 6 ,,850 134 - 1 7 ,,130 146 - 2 ,683 3 ,162 - 6 ,106 261 - 1 6 ,.719 - 5 ,.235 - 1 1 ,.952 468 - 8 1 ,,990 - 7 ,,496 - 7 4 ,,765 271 - 5 5 ,,739 1,,554 - 5 7 ,.624 331 -39, 808 15,.814 - 5 5 ,.977 355 - 2 ,,958 6,.647 3,.042 1,.204 - 2 ,.407 5,.797 4,,303 2 ,764 -1,,881 9, 730 3, 366 -39, 412 - 2 ,.490 14,.425 4,.036 3146,,640 3459, 8 5 6 3977,,342 4642, 4 4 9 5077,.890 31 32 33 34 35 36 37 38 + C h a n g e in net finan. assets of public s e c t o r s State 8 local g o v e r n m e n t s U.S. g o v e r n m e n t S p o n s o r e d credit a g e n c i e s • Other adjustments: Nonfinancial discrepancy U n a l l o c a t e d f i n a n c i a l flows Unallocated revaluations T o t a l domestic net a s s e t s at year end 39 M e m o : G r o s s n a t i o n a l product Data are in m i l l i o n s of d o l l a r s . - 3 ,.601 8,• 323 -1, 453 5672,.695 - 3 5 ,.539 2,.350 - 3 8 , 409 520 31 32 33 34 8 -1, 472 256 1, 8 9 6 35 16, 5 7 7 36 - 1 , 8 4 5 37 6418, 3 5 4 7509,.396 38 2 2 4 9 , 6 7 7 39 May 1987 All S e c t o r s — F l o w s All S e c t o r s — F l o w s 35 S t o c k - F l o w R e c o n c i l i a t i o n for Consolidated Domestic Net A s s e t s Annual Flows Annual Flows 1982 1983 1984 1985 Domestic Investment flows: 1 2 3 673.,799 450,,714 243.> 085 656,,250 491,,212 165,,038 755,,387 550,,352 205,,035 699,925 598,553 101,372 4 5 24,,756 267 ,841 30,, 080 195 118 26 ,087 231 ,122 28,197 129,569 791,400 622,974 168,426 993,250 653,593 339,657 1020,350 693,551 326,799 -28,735 139,691 -70,658 268,999 -98,954 227,845 1072,523 Purchase of physical assets 730,001 - C a p i t a l c o n s u m p t i o n 342,522 = Net capital formation - 1 2 9 , 6 7 9 • Net foreign Investment 212,843 * Net investment flows by domestic sectors A d j u s t m e n t s for tangible assets: 520,047 328,571 611,476 303,640 540,882 278,494 64,954 -86,718 269,192 310,755 189,932 61,376 55,252 53,235 R e v a l u a t i o n s of r e p r o d u c i b l e 183,597 tangible assets 2 2 5 , 7 9 4 Change in land values L e s s : A d j u s t m e n t s of capital consumption 621 to Balance Sheet basis 8 A d j u s t m e n t s to net foreign i n v e s t m e n t : - 1 , 8 8 6 R e v a l . of net foreign claims 981 R e v a l . of SDR holdings 10 9 10 -2,150 539 -13,668 1,017 4,605 768 21,345 -266 -6,139 -318 -15,097 6,158 751 11 1,659 5,357 5,761 3,904 5,410 -2,981 4,969 12 786 2,084 266 1,471 3,879 1,151 3,959 1115.723 1100,857 1061,368 714,685 500,675 344,277 637,133 By sector: 637,133 Total* all sectors 6 7 9 Foreign purchases of 18,206 U.S. corporate equities - U.S. p u r c h a s e s of 1,781 foreign equities * Net change in consolidated domestic net worth 13 1100,857 1061,368 88,614 714,685 500,675 344,277 1150,346 1624,073 1032,158 105,943 184,423 269,376 32,173 1204,687 1861,422 1207,342 79,098 206,693 350,410 37,879 1127,997 1268,349 768,208 -16,743 223,285 285,920 7,679 268,861 460,772 388,421 — 4 5 ,865 30,520 82,138 5,558 910,028 1264,206 1031,502 -15,020 87,526 135,460 24,738 731,127 723,533 632,869 -103,079 86,967 65,212 41,564 552,616 1085,161 1024,128 -81,141 75,110 27,823 39,241 22 282,950 -44,507 327,457 280,254 -49,618 329,872 207,714 -29,187 236,901 -12,135 -45,710 33,575 73,558 -89,977 163,535 -8,897 -68,461 59,564 -351 -52,841 52,490 25 145,380 -23,327 168,707 282,288 -10,828 293,116 -46,717 -34,924 -11,793 119,488 -14,712 134,200 148,311 -17,289 165,600 4,208 -74,349 78,557 336,804 -104,213 441,017 201,369 - C h a n g e in H H corp. equities -118,312 Net p u r c h a s e s 319,681 Revaluation 25 26 27 28 29 30 45,397 17,340 28,057 94,193 22,223 71,970 -20,645 19,871 —40,516 84,558 27,640 56,918 132,309 46,764 85,545 -2,905 8,237 -11,142 196,092 33,325 162,767 155,437 - C h a n g e / f i n . i n s t . c o r p . s h a r e s 27,838 Net purchases 127,599 Revaluation 28 29 30 31 32 33 34 -29,743 -5,084 -25,215 556 -73,787 -8,559 — 65 ,565 337 -67,527 -243 -67,782 498 -138,321 217 -139,845 1,307 -189,863 2,788 -193,518 867 -170,109 -189,057 867 -203,965 9,267 -211,789 -1,443 • Change in net finan. assets of -206,573 public sectors 14,934 S t a t e 8 local governments -223,133 U.S. government 1,626 Sponsored credit agencies 31 32 33 34 35 36 37 -164 -4,084 -632 -6,075 -21,298 -2,670 -5,216 4,532 1,582 100 -19,043 -22,983 -5,325 -7,832 7,677 1,925 -17,184 -45,084 5,600 9,578 -19,552 -5,031 -3,951 1,431 38 8625,119 9725,976 10787,344 11590,643 12091,318 12435,595 13072,728 39 2508,170 2731,947 3052,632 3405,800 3765,000 3998,025 1115,723 15 16 17 18 19 20 21 25 24 26 27 Data are in millions of dollars. 3165,950 18,081 8 5 1 , 2 5 7 Private sectors, consolidated 1261,821 Sector basis, total 1175,976 Households -43,267 Farm business 93,996 Nonfarm noncorp. business -1,571 N o n f i n a n c i a l corp. business 36,687 Private finan. institutions 15 16 17 18 19 20 21 5 3 , 7 5 8 - C h a n g e in eq.ln n o n c o r p . b u s . 2 2 -56,986 P r o p r i e t o r s ' net Invest. 23 110,744 R e v a l u a t i o n of equity 24 • Other a d j u s t m e n t s : N o n f I n a n c i a l discrepancy 35 Unallocated financial flows 36 Unallocated revaluations 37 Total domestic net assets at year end 4206,523 Memo: G r o s s national product 38 39 H a y 1987 Sector Flow Summaries Sector Flow Summaries 36 S e c t o r D e t a i l on S t o c k - F l o w R e c o n c i l i a t i o n Items Annual Flows Annual Flows 1947 1948 1949 55 • 472 30.,508 1 ,611 4 ,997 18,,107 249 69 ,999 36,,223 6,,042 6,,729 20,,652 353 61,,521 38,,054 3 .662 4 ,546 14 ,902 357 85 47 5 8 24 ,849 ,761 ,309 ,358 ,027 394 90 47 5 6 30 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 2 8 ,573 13 .969 1 ,500 3 ,899 8 ,974 231 33,,038 16 ,083 1 ,817 4 ,454 10,,424 260 36 ,113 17 ,853 2,,069 4,,716 11,,204 271 39 19 2 4 12 ,458 ,848 ,305 ,999 ,023 283 45 23 2 5 13 13 Net c a p i t a l f o r m a t i o n 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Private finan. insts. 2 6 ,899 16 ,539 111 1 ,098 9 , 133 18 36 ,961 20 ,140 4 ,225 2 ,275 10,,228 93 2 5 ,408 20 ,201 1 ,593 170 3 ,698 86 46 27 3 3 12 ,391 ,913 ,004 ,359 ,004 111 19 Net f o r e i g n i n v e s t m e n t Net f i n a n c i a l i n v e s t m e n t : Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 9 ,853 3 ,108 1 ,297 - 2 ,249 - 2 ,293 4 ,016 -61 - 1 ,098 - 5 ,751 601 - 5 ,044 5 ,259 - 4 ,184 -2,,275 —41,814 970 4 ,125 1 ,612 - 1 ,570 170 3 ,070 843 - 8 ,356 3 ,963 - 2 ,971 - 3 ,359 - 7 ,647 1 ,658 26 27 28 29 30 14 ,361 112 14 ,215 28 6 7,,669 - 1 ,048 8 »657 8 52 - 5 ,211 - 1 ,764 - 3 ,494 13 34 5 ,290 - 1 ,991 7 ,270 26 -15 - 2 ,215 483 2 ,383 817 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 Households 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. 20 21 22 23 24 25 31 Public sectors S t a t e & local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority Unallocated f i n a n c i a l flows 1950 1951 1952 1953 1954 ,342 ,499 ,778 ,080 ,554 431 8 2 ,782 46,,781 3,,571 6,,458 25,,416 556 87,,600 51 ,647 1 ,445 7 ,841 26 ,235 432 8 6 ,166 51 ,995 2 ,442 7 ,812 23 ,264 653 ,663 ,139 ,671 ,695 ,833 325 49,,708 25,,582 2 ,925 6,,009 14,,840 352 53 27 3 6 15 ,341 ,777 ,082 ,255 ,852 375 5 7 ,591 7 30 ,763 8 9 3 ,192 6 ,462 10 16 ,765 11 409 12 4 4 ,679 24 ,360 3 ,107 385 16 ,721 106 33,,074 21,,199 646 449 10,,576 204 34 ,259 23 ,870 - 1 ,637 1 ,586 10 ,383 57 28 ,575 13 21 • 232 14 -750 15 1 ,350 16 6 ,499 17 2 4 4 18 656 323 - 1 ,729 -504 10 ,986 - 3 ,108 -385 - 8 ,824 827 7,,642 10,,575 -677 449 -3,,462 1,,655 6 ,794 9 ,304 1 ,586 - 1 ,586 - 3 ,994 1 ,484 8 ,785 7,,554 737 - 1 ,350 -798 2 ,842 4 ,199 - 1 ,300 5 ,448 21 30 - 7 ,029 - 2 ,185 - 4 ,,919 31 44 - 9 ,778 - 2 ,026 - 7 ,810 17 41 - 9 ,319 26 - 3 ,904 27 - 5 ,466 28 14 29 37 30 - 3 ,039 -290 1 ,255 2 7 3 31 32 R e v a l . of p h y s i c a l a s s e t s 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 55 17 6 11 14 -5 ,482 ,047 ,301 ,353 ,398 ,899 484 2 0 ,087 7 ,718 - 2 ,192 4 ,514 7 ,765 - 2 ,152 130 768 - 5 ,272 - 1 ,651 7 ,667 1 ,893 1 ,856 -13 38 14 6 3 9 -4 ,869 ,266 ,514 ,396 ,508 ,965 220 32 12 2 7 8 -1 ,535 ,101 ,795 ,152 ,975 ,199 313 11,,096 14,,195 -565 - 4 ,,943 3,,465 1,,000 -56 2,• 047 -2,,069 1,,082 186 1,,641 -1,,000 207 39 R e v a l u a t i o n s by type of asset 40 Residential structures 41 P l a n t and e q u i p m e n t 42 Inventories 43 Consumer durables 5 5 ,482 2 2 ,946 19 ,834 11 ,401 1 ,301 20,,087 9 ,953 9 ,188 537 409 768 3 ,696 2 ,811 -4,,963 -776 38 11 12 12 2 ,869 ,609 ,865 ,239 ,156 32 12 13 2 4 ,535 ,263 ,364 ,447 ,461 11,,096 7,,989 5,,118 - 3 ,,892 5,,905 4 4 C h a n g e in land v a l u e s 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 Private finan. insts. 12 ,248 4 ,133 1 ,773 3 ,074 3 ,195 73 9 ,082 3 .147 1 ,199 2 ,248 2 ,455 33 6 ,102 911 104 3,,134 1,,940 13 19 4 9 2 2 ,795 ,582 ,953 ,275 ,932 53 17,,163 3,,801 7,,021 2,,894 3 ,381 66 5 0 A d j . to c a p i t a l c o n s u m p t i o n 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. -1 153 65 -219 167 74 -241 -1 170 81 -252 56 57 58 59 60 61 62 63 64 65 66 67 - Memo: Total gross domestic investment. F l o w of F u n d s b a s i s 67,,540 Private sectors 53,,179 Households 34,,524 Farm business 1,,550 Nonfarm noncorp. business 3,,899 Nonfinancial corp. busines 12,,356 Private finan. institution 850 Public sectors State a local governments U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority D a t a are in m i l l i o n s of d o l l a r s . 14,,361 112 14,,215 28 6 - - 176 87 -262 -1 - -2 189 98 -289 - 1 2 3 4 5 6 - 2 6 1 19 20 21 23 24 25 2,,687 -259 614 788 1,.231 -300 13 32 33 34 35 36 37 38 2,,047 768 1,,917 628 -1,,266 2,,687 4,,256 1 ,952 -645 -2,,876 39 40 41 42 43 8,,766 3,,464 670 1,,616 2,,983 33 7,,425 2,,540 -1,,645 2,,467 3,,987 76 15,,036 3,,478 3,,118 3,,010 5,,306 124 44 45 46 47 48 49 195 105 -301 2 -1 198 112 -311 2 -1 -3 200 118 -320 -1 50 51 52 53 54 55 - 72,,624 64,,955 41,,482 1.,858 4,,454 15, 8 3 8 1,,323 60,,435 65,,646 39,,666 2,,092 4,,716 17,,972 1,,200 82,,783 77,,493 51,,724 2,,338 4 ,999 16,,380 2,,052 94,,037 89,,838 58,,485 2,,670 5,,695 21,,730 1,,258 83,,395 90,.424 57,.356 2,.894 6,.009 21,.954 2,.211 84,.616 94,.394 60,.951 3,.031 6,.255 .241 1,.916 85,.632 94,.951 59,.349 3, 179 6, 4 6 2 466 3,.495 56 57 58 59 60 61 62 7,,669 - 1 ,,048 8, 657 8 52 - 5 ,-211 - 1 ,,764 - 3 ,,494 13 34 5 ,290 - 1 ,,991 7 ,270 26 -15 4,,199 - 1 ,,300 5,,448 21 30 - 7 ,.029 - 2 ,.185 - 4 , 919 31 44 - 9 , 778 - 2 ,.026 - 7 ,.810 17 41 - 9 , 319 - 3 ,.904 - 5 , 466 14 37 63 64 65 66 67 M a y 1987 Sector Flow Summaries Sector Flow Summaries S e c t o r D e t a i l on S t o c k - F l o w R e c o n c i l i a t i o n Items g y Annual Flows 1955 1 2 3 4 5 6 108, 591 63,.417 2,,351 9,,527 32,,549 747 1956 110, 8 6 4 62,,447 3,,304 7,,183 37,,178 752 1957 1958 1959 1960 1961 110,,741 62,,090 2,,508 9,,549 35,,731 863 100, 673 59,,154 4,,126 8,,729 27,,798 866 122,,980 69,,394 3,,713 10,,890 37,,960 1,,023 121,,645 69,,358 3 ,548 10,,087 37,,845 807 119,,017 66,,145 3,,711 11,,667 36,,466 1,,028 1962 134,,670 P u r c h a s e s of p h y s i c a l a s s e t s Households 72,,481 Farm business 4,,168 Nonfarm noncorp. business 13,,274 N o n f l n a n c i a l corp. bus. 43,,765 Private finan. lnsts. 982 1 2 3 4 5 6 9 10 11 12 60,,650 32,,353 3 ,300 61,778 17 • 785 434 67 36 3 7 20 ,517 ,142 ,485 ,355 ,032 503 72,,918 38 ,934 3 ,599 7 ,784 2 2 ,048 553 76,,260 40,,980 3 ,659 7 ,986 2 3 ,059 576 79,,780 43,,078 3,,732 8 ,226 24,,135 609 8 2 ,586 441,591 3 ,740 8 ,469 251,134 652 85,,200 46,,264 3,,734 8,,635 25,,882 685 87,,799 C a p i t a l c o n s u m p t i o n Households 4 7 ,620 Farm business 3 ,762 Nonfarm noncorp. business 8 ,864 Nonflnancial corp. bus. 2 6 ,827 Private finan. lnsts. 726 7 8 9 10 11 12 13 14 15 16 17 18 4 7 ,941 31 ,064 -949 2 ,749 14 ,764 313 4 3 ,347 2 6 .305 -181 -172 17 ,146 249 37 ,823 2 3 .156 - 1 ,091 1 .765 13 .683 310 2 4 ,413 18 ,174 467 743 4 .739 290 4 3 ,200 26 ,316 -19 2 .664 13 ,825 414 3 9 ,059 2 4 ,767 -192 1 ,618 12 .711 155 33 ,817 191,881 -23 3 ,032 10,,584 343 4 6 ,871 Net c a p i t a l f o r m a t i o n Households 24 ,861 Farm b u s i n e s s 406 Nonfarm noncorp. business 4 .410 Nonflnancial corp. bus. 16 .938 Private finan. lnsts. 256 13 14 15 16 17 18 7 8 2 , 2 6 4 Net foreign I n v e s t m e n t Net f i n a n c i a l I n v e s t m e n t : Private sectors Households Farm business Nonfarm noncorp. business Nonflnancial corp. bus. Private finan. lnsts. 20 21 22 23 24 25 Public sectors S t a t e 8 local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority 26 27 28 29 30 19 19 26 2,,112 4.568 356 -1,879 1 .80S 2,,833 20 21 22 •2,,723 4,,627 916 2,,749 6,,915 1,,398 2,,023 11,,563 138 172 -11,,218 1,,368 6,788 13.525 1,040 -1,765 -7,313 1,301 17,015 16,773 -499 -743 -824 2,308 5.567 12.786 -18 -2,664 -6,162 1,625 4 .180 12 .175 157 - 1 .618 - 9 .043 2:.509 11,,945 16,,897 -6 -3,,032 - 4 ,865 2 ,951 10.895 17.199 -407 -4,410 -4,789 3,302 26 29 30 -256 4 ,243 3 ,937 18 32 619 - 3 ,363 3 ,916 13 53 -2,693 -4,328 1,528 38 69 -15,816 -4,797 -11,113 35 59 -6,759 -3,659 -2.938 SO -192 " I .483 - 5 ,223 1 ,680 31 29 - 9 ,603 - 4 ,068 -5,,648 46 67 -8,090 -3,292 -4,899 55 46 31 3 ,005 -530 473 -843 -687 -894 491 -541 32 35 34 35 36 37 38 20,986 2,988 1.199 4,252 10,438 -1,750 359 35,172 8,344 1.538 6,419 15,717 -2,675 479 8,530 -3,888 2,774 1,459 6,518 -1,525 142 8.804 3,423 1.442 1,740 1,888 -250 61 4,376 -1.147 228 1,056 5,849 -277 113 -2,946 -5,951 1.555 648 -1.651 -175 280 -1,525 -1.596 1,051 -461 -565 271 115 8 7 R e v e l , of p h y s i c a l assets Households - 2 ,,888 Farm business 1,,875 Nonfarm noncorp. business 1,,091 N o n f l n a n c i a l c o r p . bus. -541 Inventory valuation adj. 26 Private finan. lnsts. 576 39 40 41 42 43 20,986 8,151 13,706 1.564 -2.435 35,172 4,878 20,356 4.157 5,781 8,530 1,224 8,805 2,094 -3.591 8,804 2,785 2.416 1,547 2,056 4,576 1,042 4,274 -528 -612 -2,946 905 -1,991 765 -2,625 -1,525 548 -49 -704 -1,520 87 355 2,,398 450 - 5 ,,116 e v a l u a t i o n s by type of asset Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables 39 40 41 42 43 44 45 46 47 48 49 16,870 4,514 4,218 3,345 4,642 151 29,195 9,173 7,144 5,293 7,382 203 20,555 3.641 5,969 3,154 7,559 210 25,766 3.865 9,434 3,505 6,744 218 19,606 4.190 5,822 3,590 5,787 217 21.605 10,114 1.285 4,895 5.097 216 19,540 4.111 5,673 3,663 5,622 271 14,,614 3,,816 5 ,147 3 ,514 1 ,916 221 h e n g e in land v a l u e s Households Farm business Nonfarm noncorp. business Nonflnancial corp. business Private finan. lnsts. 44 45 46 47 48 49 50 51 52 53 54 55 -1 206 125 -331 -1 214 139 -552 -1 -5 218 147 -569 2 -1 -1 222 157 -380 1 229 168 -596 -5 244 185 -430 -1 256 192 -448 dj. to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonflnancial corp. business Private finan. lnsts. 50 51 52 53 54 55 23 24 25 27 28 56 57 58 59 60 61 62 63 64 65 66 67 - 236 176 -415 1 - -1 105,612 105,868 68,044 5,267 6,778 25,654 2,145 115,,506 112,,887 74 ,010 5 ,442 7,,555 25,,960 2,,120 114,,836 117, 5 2 9 75,,615 5,,548 7,,784 2 8 ,418 2 ,164 101,,872 117,,688 75 ,927 5 ,627 7 ,986 2 6 ,974 5 ,174 121,,788 128,,547 82,,180 5,,695 8 ,226 31,,798 2,,648 124,,342 125,,825 81,,533 5 ,705 8 ,469 2 8 ,802 5 ,316 121,,359 130,,962 83,,042 3,,705 8,,635 51,,601 5,,979 -256 -4,245 5.957 18 52 619 -5,,565 5,,916 15 55 - 2 ,695 -4,,328 1,,528 58 69 - 1 5 ,816 - 4 .797 - 1 1 .115 55 59 -6,,759 -3,,659 -2,,938 30 -192 - 1 ,483 - 3 ,223 1 ,680 31 29 - 9 ,603 -4,,068 - 5 ,648 46 67 Data are in m i l l i o n s of d o l l a r s . Unallocated f i n a n c i a l flows Memo: Total gross domestic investment, F l o w of F u n d s basis 137,,475 Private sectors 145,,565 Households 89,,680 Farm business 5,,761 Nonfarm noncorp. business 8,,864 N o n f l n a n c i a l c o r p . busines 58 ,976 Private finan. institution 4,,284 - 8 ,090 - 3 ,292 - 4 ,899 55 46 Public sectors S t a t e & local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority 31 32 33 34 35 36 37 38 56 57 58 59 60 61 62 63 64 65 66 67 M a y 1987 Sector Flow Summaries Sector Flow Summaries S e c t o r D e t a i l on S t o c k - F l o w R e c o n c i l i a t i o n 38 Items Annual Flows Annual Flows 1963 1 P u r c h a s e s of p h y s i c a l assets Households 2 3 Farm business 4 Nonfarm noncorp. business 5 N o n f i n a n c i a l c o r p . bus. 6 Private finan. insts. 1964 1965 1966 1967 1968 1969 1970 144 ,905 79 ,015 4 ,637 15 ,334 44 ,573 1 ,346 156 ,473 8 5 ,057 3 ,492 16 ,384 5 0 ,110 1 ,430 179 ,610 92 ,322 5 ,640 18 ,111 61 ,660 1 ,877 197 ,135 97 ,436 5 ,287 16 ,822 75 ,342 2 ,248 196 ,314 98 ,270 6 ,451 17 ,795 71 ,230 2 ,568 2 1 8 ,006 113 ,975 5 ,798 19 ,135 74 ,103 4 ,995 2 3 9 ,444 121 ,503 6 ,067 23 ,562 8 3 ,300 5 ,012 2 3 4 ,465 119 ,404 6 ,866 24 ,179 78 ,922 5 ,094 7 C a p i t a l consumpti n 8 Households 9 Farm business 10 Nonfarm noncorp. business N o n f i n a n c i a l corp. bus. 11 P r i v a t e f i n a n . insts. 12 91 ,280 49 ,522 Z 807 9 ,155 28 .002 794 95 ,666 51 ,889 3 ,893 9 ,569 29 ,448 867 100 ,628 54 ,042 4 ,046 10 ,101 31 ,459 980 107 ,489 5 6 ,961 4 ,288 10 ,850 34 ,281 1 ,109 116 ,768 61 ,773 4 ,552 11 .614 37 ,556 1 ,273 127 ,999 67 ,619 4 ,852 12 ,583 41 ,448 1 ,497 141 ,450 75 ,325 5 ,251 13 ,831 45 • 399 1 ,644 154 ,577 7 8 2 ,319 8 5 ,631 9 14 ,971 10 49 ,857 11 1 ,799 12 13 Net capital f o r m a t i o n Households 14 Farm b u s i n e s s 15 16 Nonfarm noncorp. business 17 N o n f i n a n c i a l c o r p . bus. 18 Private finan. insts. 53 ,625 29 ,493 850 6 ,179 16 ,571 552 60 ,807 33 ,168 -401 6 ,815 20 ,662 563 78 ,982 38 ,280 1 ,594 8 ,010 30 .201 897 8 9 ,646 40 ,475 999 5 ,972 41 ,061 1 ,139 79 ,546 36 ,497 1 ,899 6 ,181 33 ,674 1 ,295 90 ,007 46 ,356 946 6 ,552 32 ,655 3 ,498 97 ,994 46 ,178 816 9 ,731 37 ,901 3 ,368 79 ,888 37 ,085 1 ,235 9 ,208 29 .065 3 ,295 1 2 3 4 5 6 13 14 15 16 17 18 19 Net foreign i n v e s t m e n t Net f i n a n c i a l i n v e s t m e n t : Private sectors Households Farm business Nonfarm noncorp. business N o n f i n a n c i a l corp. bus. Private finan. insts. 4 .052 5 ,914 4 .973 3 ,661 2 ,377 1 ,060 - 1 ,044 6 ,097 17 ,908 -947 - 6 ,179 - 5 ,803 1 ,118 13 ,243 24 ,105 391 - 6 ,815 - 6 ,937 2 ,499 6 .570 26 .678 - 1 ,548 - 8 .010 - 1 2 ,010 1 .460 7 ,285 31 ,862 -917 - 5 ,972 - 1 8 .502 814 2 0 .732 4 2 ,006 - 1 .858 - 6 .181 - 1 4 .284 1 .049 11 ,226 34 ,995 -903 - 6 ,552 - 1 8 ,268 1 ,954 - 7 ,937 26 ,811 -755 - 9 ,731 - 2 1 ,008 - 3 ,254 26 27 28 29 30 - 2 ,984 - 2 ,019 - 1 ,079 59 55 - 6 .874 - 3 ,042 - 3 ,414 49 -467 - 3 .430 -2,,905 -606 55 26 - 3 .937 - 2 .463 - 1 .538 46 18 - 1 8 .433 - 4 ,789 - 1 3 ,714 42 28 - 1 4 ,641 - 5 .010 - 9 .667 15 21 - 3 ,428 - 9 ,997 6 ,494 35 40 - 1 8 .915 2 6 - 4 .674 2 7 - 1 4 .279 28 17 29 21 30 939 -455 1,,833 313 78 4 ,475 10 ,321 5 .869 31 20 21 22 23 24 25 31 Public sectors S t a t e & local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority Unallocated financial flows 2 ,115 19 15 51 -1 -9 -20 -5 .161 ,481 .227 .208 .734 .151 20 21 22 23 24 25 32 R e v a l . of p h y s i c a l assets 33 Households 34 Farm b u s i n e s s 35 Nonfarm noncorp. business 36 N o n f i n a n c i a l c o r p . bus. 37 - Inventory v a l u a t i o n adj. 38 Private finan. insts. -5,,937 - 6 ,717 747 -1,>860 1,, 783 54 164 12 ,772 3 ,484 877 2,,857 4 ,396 -494 664 12,,006 -3,,614 4,>480 2,,534 6,,642 - 1 ,,245 719 4 5 ,470 17,,797 2,• 2 7 4 9 >238 13,>466 -2,,107 588 36,>007 14,>024 1,>864 4,>546 13,>567 - 1 ,>554 452 95 ,366 43,>436 5,>327 16,,636 26,>996 - 3 ,>651 -680 91 ,769 36,,179 7 >269 14 >812 28,>420 - 5 >870 -781 77,>348 27,,031 2, 605 10, 8 2 6 30, 8 7 3 -6,552 539 32 33 34 35 36 37 38 39 R e v a l u a t i o n s by type of asset 40 Residential structures Plant and equipment 41 42 Inventories 43 Consumer durables - 5 ,,937 ,506 -7 i 2,,976 -19 - 1 ,,388 12,,772 10,,485 6,> 094 375 - 4 ,182 12,,006 4,,502 11,,495 3,,851 - 7 ,,842 45 >470 24,>842 19,>421 1,>945 -738 36,>007 13,>199 17,,394 1,,950 3,,464 95,>366 50,>563 34,>259 6,,464 4,,080 91,>769 41,>964 35,>668 10,>847 3,,290 77, 348 20, 312 43, 4 8 0 4, 758 8, 798 39 40 41 42 43 44 C h a n g e in land values 45 Households 46 Farm b u s i n e s s 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 P r i v a t e finan. i n s t s . 16,,613 2, 8 8 3 8, 068 31 5 0 7 1, 973 182 21,,429 5,,831 8,,027 4,,218 3, 091 262 23,,038 4, 8 2 3 10, 764 3, 968 3, 251 232 40,,265 20,,096 7, 8 9 9 8, 4 4 3 3,,654 173 17,,058 5,,435 9, 176 2, 2 5 2 234 -39 24,,242 13,,134 6,,103 4, 8 5 8 26 121 24, 744 12,,099 3, 144 5,.627 3, 654 220 18. 861 7, 459 4. 561 4, 057 2, 651 133 44 45 46 47 48 49 50 A d j . to capital c o n s u m p t i o n 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. -3 270 203 475 -2 286 212 499 -2 337 245 -583 -2 361 265 629 1 -1 -4 393 288 684 -1 -1 444 320 765 -1 -2 308 227 -537 1 -1 - - - M e m o : Total gross domestic i n v e s t m e n t . Flow of F u n d s b a s i s 148, 018 Private sectors 151, 002 Households 96, 923 Farm business 3, 690 Nonfarm noncorp. business 9, 155 Nonfinancial corp. busines 38, 770 P r i v a t e finan. i n s t i t u t i o n 2, 464 162, 8 4 2 169, 716 109, 162 3, 8 8 3 9. 569 43, 173 3, 929 182. 750 186, 180 119, 0 0 0 4. 092 10. 101 49. 650 3. 337 200, 4 8 3 204, 4 2 0 129, 298 4, 370 10, 8 5 0 56, 8 4 0 3. 062 198, 613 217, 046 140. 2 7 6 4. 5 9 3 11. 614 5 6 . 946 3. 617 214, 591 230, 5 6 2 148, 970 4, 8 9 5 12, 583 57, 165 6, 949 228, 079 231, 551 148, 314 5. 312 13. 831 62, 336 1. 758 250, 711 249, 955 170, 8 8 5 5, 639 14, 971 58, 5 1 7 -57 56 57 58 59 60 61 62 -61 8 7 4 - 3 , 042 -3, 414 49 467 -3,430 - 2 . 905 -606 55 26 - 3 , 937 - 2 , 463 - 1 . 538 46 18 - 1 8 .433 - 4 , 789 - 1 3 , 714 42 28 - 1 5 , 971 - 5 , 010 - 1 0 , 997 15 21 - 3 , 472 - 9 , 997 6, 4 5 0 35 40 - 1 9 , 244 - 4 , 674 - 1 4 , 608 17 21 63 64 65 66 67 56 57 58 59 60 61 62 63 64 65 66 67 Public sectors State 8 local g o v e r n m e n t s U.S. government S p o n s o r e d credit a g e n c i e s Monetary authority Data are in m i l l i o n s of d o l l a r s . - 2 , 984 - 2 , 019 - 1 . 079 59 55 -1 50 469 51 349 52 817 53 54 - 1 55 May 1987 Sector Flow Summaries Sector Flow Summaries 39 Sector Detail on Stock-Flow Reconciliation Items Annual Flows Annual Flows 1977 1973 1971 270,070 140.872 8,336 30,919 84,453 5,490 313,207 164,168 8,806 39,577 94,098 6,558 363,507 183,397 13,698 42,846 115,849 7,717 364,616 180,393 10,808 33,309 132,114 7,992 354,920 193,874 17,730 24,842 110,874 7,600 439,142 237,516 13,324 27,580 152,964 7,758 528,552 284,224 18,044 40,254 177,208 8,822 622,423 Purchases of physical assets 327,702 Households 21,726 Farm business 46,571 Nonfarm noncorp. business 214,964 Nonfinancial corp. bus. 11,460 Private finan. insts. 7 8 9 10 11 12 169,,383 90,,201 5,,942 16,,426 54,,783 2,,031 .349 18 , 9/ ,377 6,,605 17,,989 60,,111 2,,267 201,,554 106 ,567 7,,228 19,,965 65 ,223 2 ,571 231 ,333 120 ,492 8 ,508 23 ,013 76 ,301 3 ,219 268 ,788 136 ,744 9 ,789 26 ,469 91 ,878 5 ,908 297,,791 151 ,270 10 ,771 28 ,901 102,,301 4,,548 332 ,704 168 ,582 12 ,099 32 ,378 114 ,321 5 ,524 576,,700 189,,861 13 ,557 37 ,047 129 ,844 6 ,391 apital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 7 8 9 10 11 12 13 14 15 16 17 18 100,,687 50 .671 2,, 394 14,,493 29,,670 3,,459 128,,858 66,,791 2,,201 21,,588 33,,987 4,,291 161 ,953 76 ,830 6 ,4 70 22,,881 50,,626 5 ,146 133 ,283 59 ,901 ,500 10 ,296 55 ,813 4 ,773 86 ,132 57 ,130 7 ,941 -1 ,627 18 ,996 5 ,692 141,,351 86 ,246 2,,553 -1,,321 50,,663 5,,210 195 ,848 115 ,642 5 ,945 7 ,876 62 ,887 5 ,498 245,,725 137 ,841 8 ,169 9,,524 85,,120 5,,069 et capital formation Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 13 14 15 16 17 18 2 1 2 3 4 5 6 19 -11,,211 -7,,676 4,,483 2 ,515 23 ,978 14,,747 -16 ,524 -2,,470 20 21 22 23 24 25 16,,651 46,,606 -2,,379 -14,,493 -14,,960 1,,877 13,,640 55,,955 -2,,029 -21,,588 -16,,951 -1,,747 5 ,121 63 ,105 - 5 ,871 -22 ,881 -31,,144 1 ,912 11 ,022 79 ,229 - 2 ,278 -10 ,296 - 5 2 ,643 - 2 ,990 90 ,970 100 ,830 - 7 ,394 1 ,627 7 ,641 -11 ,734 63,,096 84,,749 -2,,109 1,,321 -23,,620 2,,755 24 ,387 67 ,117 - 5 ,654 - 7 ,876 - 3 3 ,839 4,,639 15,,965 73,,449 -7,,267 - 9 ,524 -53 ,839 13,,146 Net financial Investment* Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 20 21 22 23 24 25 26 27 28 29 30 -34,,509 -10,,051 - 2 4 ,499 95 -54 -18,,909 134 -19,,290 146 101 -3,,402 2 ,266 - 6 ,061 261 132 -11 ,873 - 5 ,235 - 7 ,236 468 130 -81 ,417 - 7 ,496 - 7 4 ,428 271 236 -56,,672 1,,554 -58,,605 331 48 - 5 9 ,439 15 ,814 -55 ,831 355 223 35 ,012 2,,350 -58,,562 520 680 Public sectors State * local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 SO 31 6 ,647 - 2 ,407 2 ,764 3 ,366 14 ,425 8,,323 -1 ,472 16,,577 32 33 34 35 36 37 38 111,,802 43,,791 8,,274 18,,932 36,,240 - 4 ,584 -19 116 ,583 47,,733 14,,121 17,,442 31 ,829 -6 ,610 -1 ,152 220,,679 86,,208 25 ,038 30,,250 59 ,207 -20 ,022 -46 428,,396 145 ,221 15,,306 52,,650 171,,363 -39,,457 4,,399 220 ,562 78 ,201 4 ,806 30 ,538 94 ,568 - 1 0 ,952 1,,497 257,,848 110,,878 7,,907 46,,677 74,,418 -14,,911 5,,057 558,,078 164,,051 12,,047 64,,587 96,,563 -16,,637 4,,195 545 ,618 220 ,465 52,,416 97,,608 162,,559 -25,,298 7 ,472 39 40 41 42 43 111 ,802 55 ,706 50 ,757 9 ,790 - 4 ,451 116 ,583 61 ,492 41 ,660 17 ,270 - 3 ,839 220 ,679 100 ,478 68 ,200 47 ,393 4 ,608 428,,396 120,,443 208,,843 55,,330 43,,780 220 ,562 76 ,400 109 ,914 11 ,109 23 ,139 257 ,848 127,,805 97,,495 18,,405 14,,145 358,,078 190,,249 127,,227 21,,164 19,,458 545 ,618 255 ,760 221,,775 55 ,905 56 ,182 Residential structures Plant and equipment Inventories Consumer durables 44 45 46 47 48 49 38 ,633 16 ,594 11 ,965 6 ,912 2 ,979 183 70 ,835 19 ,694 23 ,788 IS ,766 8 ,399 188 128 ,834 35 ,934 54 ,401 25 ,841 12 ,407 251 102,,848 31,,762 21,,454 26 ,233 22,,891 508 101 ,560 18 ,866 53 ,256 23 ,638 6 ,125 -325 175,,915 57,,437 70,,443 53,,957 15,,932 146 209,,218 82,,172 47,,117 57,,015 22,,655 265 294 ,850 105 ,596 81,,564 73 ,228 55 ,929 755 Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. Insts. 50 51 52 55 54 55 -2 505 373 -880 1 -1 548 421 -967 -2 -3 618 467 -1 ,087 -1 704 549 -1 ,254 -1 785 672 -1 ,455 -2 -1 -3 860 768 -1,,630 -1 1 ,127 1 ,027 - 2 ,156 1 -1 -1 981 891 -1,,875 1 -1 56 57 58 59 60 61 62 252,,212 287,,438 187,,478 5 ,957 16,,426 70,,210 7,,367 307,,938 327,,759 220,,123 6,,777 17 ,989 78,,059 4,,811 365,,226 371,,796 246,,502 7,,827 19,,965 87,,873 9,,629 363,,765 382,,128 259,,622 8,,530 23,,013 85 ,961 5 ,002 364,,473 447,,215 294,,704 10,,336 26,,469 119,,838 -4,,134 445,,566 506,,211 322,,265 11,,215 28,,901 155,,517 10,,513 513 ,500 555 ,409 551 ,341 12 ,390 52 ,378 145 ,859 13 ,461 63 64 65 66 67 35 ,226 -10,,051 -25,,216 95 -54 -19,,821 134 -20,,202 146 101 -6,,570 2,,266 -9,,229 261 132 -18,,363 - 5 ,235 - 1 5 ,726 468 150 -82,,740 - 7 ,496 -75,,751 271 236 -60,,645 1,,554 -62,,578 331 48 -41 ,909 15 ,814 -58 ,501 355 225 -1 Data are in millions of dollars. Unallocated financial flows 51 eval. of physical assets Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Inventory valuation adj. Private finan. insts. 32 33 34 35 36 57 58 Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. Memo: Total gross domestic investment, 603,,376 Flow of Funds basis Private sectors 640,,361 Households 401,,151 Farm business 14,,459 Nonfarm noncorp. business 37,,047 Nonfinancial corp. buslnes 163,,098 Private finan. Institution 24,,606 -36,,985 2,,350 -40,,535 520 680 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 59 40 41 42 45 44 45 46 47 48 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 May 1987 Sector Flow Summaries Sector Flow Summaries Sector Detail on Stock-Flow Reconciliation Items Annual Flows Annual Flows 1979 1 Purchases of physical assets 2 Households 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. 1980 1981 1982 1983 1984 1985 1986 673 >799 356 ,067 26,,886 43,,708 233 ,506 13,,632 656 ,250 342 ,695 15,,402 45 ,416 239 ,073 13,,664 755 -387 362 ,049 27,,186 68,,663 281 ,492 15 ,997 699 ,925 354 ,983 16 ,461 62 ,739 248 ,539 17 ,203 791,,400 427,,837 8 ,100 69,,288 267,,045 19,,130 993,,250 500,,219 24,,186 83 ,978 363,,339 21 ,528 1020 ,350 555 ,338 17 ,309 88 ,878 348 ,740 30 ,085 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 430,,714 214 ,666 15,,343 43,,473 149,,609 7,,623 491,,212 243 ,053 17 ,591 50 ,435 171,,262 8 ,871 550 ,352 263 ,740 19,,363 57,,982 198,,782 10,,485 598 ,553 280 ,277 20 ,455 64 ,403 221 ,393 12 ,025 622,,974 294 ,653 20,,781 66,,444 228 ,196 12,,900 653 ,593 310 ,383 20 ,927 69 ,978 237 ,905 14 ,400 693 ,551 332 ,763 20 ,639 73 ,540 250 ,584 16 ,025 730 ,001 7 355 ,036 8 20 ,076 9 76 ,277 10 261 ,412 11 17 ,200 12 13 Net capital formation Households 14 15 Farm business 16 Nonfarm noncorp. business 17 NonfInancial corp. bus. 18 Private finan. insts. 243,,085 141 ,401 11:,543 235 83 ,897 6 ,009 165 ,038 99 ,642 -2,,189 - 5 ,019 67 ,811 4 ,793 205 ,035 98 ,309 7 ,823 10 ,681 82 ,710 5 ,512 101 ,372 74 ,706 - 3 ,994 - 1 ,664 27 ,146 5 ,178 168 .426 133 184 - 1 2 ,681 2 ,844 38 ,849 6 ,230 339,,657 189 ,836 3 ,259 14 ,000 125 ,434 7 ,128 326 ,799 202 ,575 - 3 ,330 15 ,338 98 ,156 14 .060 342 ,522 226 .595 - 2 ,864 25 ,392 83 ,786 9 ,813 1072 ,523 581 ,431 17 ,212 101 ,669 345 ,198 27 ,013 1 2 3 4 5 6 13 14 15 16 17 18 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 24 ,756 30 ,080 26 ,087 28 ,197 - 2 8 ,735 - 7 0 ,658 -98 ,954 52 ,824 78 ,151 - 1 0 ,628 -235 - 3 0 ,559 16 ,095 124 ,007 148 ,846 2 ,654 5 ,019 -48 ,362 15 ,850 99 ,981 202 ,929 - 7 ,600 - 1 0 ,681 - 8 0 ,190 - 4 ,477 198 ,969 255 ,732 4 ,491 1 ,664 - 4 9 •576 - 1 3 ,342 167,,594 178 ,234 13 ,259 -2:,844 -21,,378 323 119 ,052 231 ,805 - 2 ,568 - 1 4 ,000 -79 ,235 -16,,950 105 ,792 177 ,440 4 ,489 -15 ,338 —45 ,193 -15 ,606 83 ,735 141 ,449 3 ,826 -25 ,392 -28 ,640 - 7 ,508 20 21 22 23 24 25 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority - 2 3 ,984 516 - 2 5 ,276 556 220 - 7 2 ,629 - 8 ,559 -641,580 337 173 -78,,426 243 -79 ,130 498 449 -151 ,729 217 -153 ,200 1 ,107 147 -188,,497 2,,788 -192,,659 867 507 - 1 7 2 ,526 18 ,081 - 1 9 2 ,049 867 575 -214 ,324 9 ,267 -221 ,004 -1 ,443 -1 ,144 -209 ,463 13 ,434 —223 ,675 -24 802 26 27 28 29 30 - 4 ,084 -21 ,298 4 ,532 - 1 9 ,043 - 7 ,832 - 1 7 ,184 9 ,578 32 Reval. of physical assets 33 Households 34 Farm business Nonfarm noncorp. business 35 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 520 ,047 184 ,775 17 ,372 122 ,687 148 ,314 - 4 3 ,175 3 ,724 611 ,476 188 ,929 29 ,796 133 ,211 208 -43 ,129 8 ,183 540 ,882 162 ,095 8 ,469 122 ,929 215 ,321 - 2 4 ,189 7 ,879 64 ,954 - 6 7 ,385 2 ,785 39 ,372 76 ,245 - 1 0 ,350 3 ,587 269,,192 122,,220 18 ,866 52,,974 63,,363 - 1 0 ,900 869 189 ,932 34,,435 1 ,096 81 ,897 62 ,137 - 5 ,475 4 ,892 55 ,252 -19 ,335 - 7 ,643 58 ,925 24 ,456 -550 - 1 ,701 183 ,597 135 ,219 -3 ,469 55 ,493 -3,,493 6,,500 6,,347 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures Plant and equipment 41 Inventories 42 43 Consumer durables 520 ,047 235 ,073 160 ,521 73 ,615 50 ,838 611 ,476 216 ,391 259 ,484 72 ,843 62 ,758 540 ,882 207 ,064 269 ,025 25 ,654 39 ,139 64 ,954 - 5 7 ,624 107 ,589 7 ,021 7 ,968 269 ,192 151,,829 56 ,342 58,,529 2,,492 189 ,932 104,,292 85 ,634 7 ,129 - 7 ,123 55 ,252 32 ,237 25 ,854 -795 -2,,044 183 ,597 154 ,828 68 ,727 -60,,345 20,,387 39 40 41 42 43 44 Change in land values Households 45 46 Farm business Nonfarm noncorp. business 47 48 Nonfinancial corp. business 49 Private finan. insts. 328 ,571 103 ,709 100 ,831 91 ,947 32 ,031 53 303,,640 82 ,159 67 ,131 102,,877 50,,710 763 278 ,494 124 ,350 -11 ,772 113 ,136 51,,935 845 -86 ,718 - 9 8 ,250 - 3 7 ,581 19 ,803 28 ,953 357 310 ,755 195,,610 - 1 7 ,174 105,,329 26,,502 488 61 ,376 52,,553 -108 ,887 79 ,164 37 ,804 742 53 ,235 31,,076 -85 ,430 75,,939 31,,417 233 225,,794 140,,003 -50 ,811 101,,718 34,,410 474 44 45 46 47 48 49 50 Adj. to capital consumption 51 Households Farm business 52 Nonfarm noncorp. business 53 54 Nonfinancial corp. business 55 Private finan. insts. -2 1,,311 1 ,193 -2,,505 -1 -1 1,,494 1,,399 -2,,893 -1 -2 1 ,653 1 ,570 - 3 ,226 1 13 1 ,749 1 ,680 - 3 ,418 9 -7 27 1,,804 1,,725 -3,,522 -12 32 18 1,,941 1,,743 -3,,671 21 -16 -26 2,,038 1,,714 -3,,733 -11 -34 621 2,,154 1,,561 -3,,738 330 314 50 51 52 53 54 55 20 21 22 23 24 25 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 Unallocated financial flows - Memo: Total gross domestic investment* Flow of Funds basis 702,,639 Private sectors 731,,368 Households 434,,218 Farm business 16,,258 Nonfarm noncorp. business 43,,473 Nonfinancial corp. busines 207,,692 29,,727 Private finan. institution Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. -28,,729 516 -30,,021 556 220 - - -129 ,679 19 - 3 ,951 31 707,,628 785,,254 491,,541 18,,056 50 ,435 195,,708 29,,514 776,,942 860,,215 564,,978 19,,586 57,,982 206,,149 11,,520 747 ,165 906 ,685 610 ,715 20 ,952 64 ,403 206:,754 3 ,861 770,,497 966,,779 606,,071 21,,359 66,,444 253,,452 19,,453 939,,776 1120,,204 732,,024 21,,618 69,,978 292,,006 4,,578 911 ,818 1130,,518 712,,778 21,,798 73,,540 307,,923 14,,479 946,,795 1163,,452 722,,880 21,,038 76,,277 323,,752 19,,505 56 57 58 59 60 61 62 -77,,626 -8,,559 -69,,577 337 173 -83,,273 -243 -83,,977 498 449 -159,,520 217 -160,,991 1,,107 147 -196,,282 2,,788 -200,,444 867 507 -180,,428 18,,081 -199,,951 867 575 -218,,700 9,,267 -225,,380 -1,,443 ,144 -216,,657 13,,434 -230,,869 -24 802 63 64 65 66 67 May 1987 Households Households Sector Stock-Flow Reconciliation Statements 41 Annual Flows Annual Flows 1947 1948 1949 1950 1951 1952 1953 1954 Households. Personal Trusts, and Nonprofit Organizations 1 34, 524 41, 482 39,,666 51, 724 58,,485 57, 356 60,,951 59, 349 Gross inv.,Flow of Funds basis 1 2 13, 969 16, 083 17,,853 19, 848 23,,139 25, 582 27,,777 30,,763 Capital consump. allow.,NIPA 2 3 20, 555 25, 399 21,,813 31,,876 35,,346 31,,774 33 ,174 28,,586 - Depreciation valuation add. Depreciation charges -Cap. consump. allow., NIPA • Reval. of physical assets 7 8 Change in value Depreciation charges 9 -Gross purchases, POP basis 10 4 5 6 153 14,,122 13, 969 167 16, 250 16,,083 170 18,,023 17,,853 176 20,,024 19,,848 189 23,,328 23,,139 195 25,,777 25,,582 198 27,,975 27,,777 200 30,,963 30,,763 7 8 9 10 17,,047 33,,433 14,,122 30,,508 7,,718 27,,691 16,,250 36,,223 - 5 ,272 14,,759 18,,023 38 ,054 14,,266 42,,003 20,,024 47,,761 12,,101 36,,272 23 ,328 47 ,499 14,,195 35,,199 25,,777 46,,781 -2,,069 21,,603 27,,975 51,,647 -259 20,,773 30,,963 51,,995 11 12 13 14 17,,047 14,,318 1,,428 1,,301 7,,718 6, 995 314 409 - 5 ,272 -4,,325 -171 776 14,,266 11,,518 592 2,,156 12 ,101 6 ,861 779 4,,461 14,,195 6,,043 2,,247 5,,905 -2,,069 -633 -170 -1,,266 -259 2,,651 -34 -2,,876 15 4,,133 3,,147 911 4,,582 3 ,801 3,,464 2 ,540 3,,478 16 17 18 - 3 ,250 - 2 ,138 1 ,112 -2,,089 -1,,113 976 8 ,614 9 ,309 695 23 ,541 24 ,218 677 20 ,804 22 ,630 1 ,826 12,,494 14,,136 1,,642 -8,,989 - 8 ,015 974 19 20 21 5 ,373 5 ,373 5,,295 5 ,295 5 ,588 5 ,588 6 ,872 6 ,872 6 ,294 6 ,294 7 7,,663 7,,656 4 7 ,866 7 ,862 22 23 24 22 ,102 23 ,318 1 ,216 5 ,818 10 ,599 4 ,781 9 ,524 10 ,203 679 21 ,083 25 ,439 4 ,356 19 ,256 21 ,063 1 ,807 - 3 ,036 -2,,872 164 2 ,381 2 ,246 -135 - ,Net investment flow. Balance Sheet basis • 53 7,,877 7 ,824 19 20 21 25 26 1 -2 35 ,420 95 ,172 91 ,119 58 ,679 26 ,844 111 ,017 27 168,779 188 ,150 187 ,941 207 ,475 227 ,593 239 ,795 255 ,105 Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions Other revaluations -24 39 ,826 Data are In millions of dollars. 15 Change in net worth 1 60 ,435 - Change in the value of land holdings 22 23 24 25 - 11 12 13 14 7 ,581 + Reval. of noncorp. equity Change in value 5 ,740 -Net inv. in noncorp. bus. -1 ,841 26 - Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 71,,780 + Reval. of corporate equities 16 Change in value 17 72,,605 -Net purchases 18 825 • - 3 4 5 6 260 ,597 Memo: Dlsp. personal income 27 May 1987 Households Households Sector Stock-Flow Reconciliation Statements 42 Annual Flows Annual Flows 1960 1958 Households* Personal Trusts, and Nonprofit Organizations 1 Gross inv.,Flow of Funds basis 68, 044 74, 010 75, 615 75, 927 82, 180 81, 533 83,,042 89,,680 1 2 - Capital consump. allow.,NIPA 32. 353 36, 142 38,,934 40,,980 43. 078 44, 591 46, 264 47,,620 2 = Net investment f ow. Balance Sheet basis 35, 691 37, 868 36,,681 34,,947 39, 102 36,,942 36,,778 42,,060 3 4 - Depreciation valuation odj. 5 Depreciation charges 6 -Cap. consump. allow., NIPA 206 22 1559 32,,353 214 36,,356 36,,142 218 39,,152 38,,934 222 41,,202 40,,980 229 43,,307 43,,078 236 44,,827 44,,591 244 46,,508 46,,264 256 47,,876 47,,620 4 5 6 7 • Reval. of physical assets 8 Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 2,,988 35,,846 52,,559 63,,417 8 .344 34,,435 36,,356 62,,447 -3,,888 19,,050 39,, 152 62,,090 3,,423 21,,375 41,,202 59,,154 -1,,147 24,,940 43,,307 69,,394 -3,,951 20,,580 44 • 827 69,,358 -1,,596 18 ,041 46,,508 66 ,145 -2,,888 7 21,,717 8 47,,876 9 72,,481 10 11 12 13 14 2,,988 4,,502 921 -2,,435 3,,423 1,,659 -292 2,,056 -1,,147 -418 -117 -612 -3,,951 -1,,066 -260 -2,,625 -1,,596 -580 304 -1,,320 -2,,888 -202 430 -3,,116 3 15 Revaluation by type of asset Residential structures Nonres. plant & equipment Consumer durables • Change in the value of land holdings 16 + Reval. of corporate equities 17 Change in value 18 -Net purchases 19 20 21 • Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 22 • Reval. of noncorp. equity 25 Change in value 24 -Net inv. in noncorp. bus. 8,,344 1,,439 1,• 124 5,,781 -3,,888 -419 122 -3,,591 11 12 13 14 4 ,514 9,,173 3 ,641 3,,865 4,,190 10 ,114 4,,111 3,,816 15 50 ,319 51,,274 955 16 ,809 18 ,794 1 ,985 -39 ,249 - 3 7 ,705 1 ,544 104,,382 105 ,929 1,,547 28,,140 28,,680 540 - 5 ,950 - 6 ,534 -584 105 ,068 105 .346 278 — 61,,279 16 -63,,371 17 -2,,092 18 2 ,265 10 ,797 8 ,532 5 9 ,514 9 ,509 -662 8 ,826 9 ,488 2 ,733 13 ,111 10 ,378 1,,246 13,,115 11,,869 88 11 ,636 11 ,548 4 ,201 16 ,284 12 ,083 - 3 ,266 19 9 ,406 20 12 ,672 21 12 ,989 11 ,066 -1 ,923 20 ,051 18 ,771 -1 ,280 13 ,093 12 ,180 -913 15 ,630 15 ,852 222 10 ,693 8 ,125 - 2 568 8 ,517 6 .014 - 2 ,503 9 ,799 10 ,247 448 11 ,529 22 11 ,725 23 196 24 2 2 1 1 410 14 -532 678 25 26 = Change in net worth 108 ,562 92 ,038 9 ,399 164 ,759 8 2 ,405 45 ,538 157 ,585 -9,,606 26 27 Memo: 278 ,771 297 ,542 313 ,969 324 ,886 344 ,629 358 ,928 373 ,774 396,,167 27 25 + Other revaluations Disp. personal income Data are in millions of dollars. Households Sector Stock-Flow Reconciliation Statements Annual Flows 1963 Annual Flows 1964 1965 1966 1967 1968 1969 1970 Households, Personal Trusts, and Nonprofit Organizations 1 96 • 923 170 ,885 Gross inv.,Flow of Funds basis 1 Capital consump. allow.,NIPA 2 109 ,162 119 ,000 129,,298 140,,276 148 ,970 148 ,314 56,,961 61,,773 67 ,619 75,,325 82 ,319 - a Net investment flow. Balance Sheet basis 2 49 ,522 51 ,889 54 ,042 3 47 ,401 57 '73 64 ,958 72,,337 78 ,503 81 ,351 72,,989 88 ,566 4 5 6 270 49 ,792 49 ,522 286 52 ,175 51,,889 308 54 ,350 54 ,042 337 57,,298 56,,961 361 62,,134 61,,773 393 68 ,012 67,,619 444 75 ,769 75 ,325 469 82 ,788 82,,319 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 10 -6 ,717 22,,506 49,,792 79,,015 3,,484 36 ,366 52 ,175 85 ,057 - 3 ,614 34 ,358 54 ,550 92,,522 17,,797 57,,935 57,,298 97,,436 14,,024 50,,160 62,,134 98,,270 43 ,436 89,,399 68 ,012 113,,975 36 ,179 81,,913 75 ,769 121,,503 27 ,031 63 ,647 82 ,788 119,,404 * , 7 Reval. of physical assets 8 Change in value 9 Depreciation charges -Gross purchases, FOF basis 10 11 12 13 14 - 6 ,717 - 5 ,923 594 -1,,388 3 ,484 7 ,040 626 - 4 ,182 -3,,614 2,,921 1,,307 -7,,842 17,,797 16,,470 2,,065 -738 14,,024 9,,537 1,,023 3,,464 43,,436 35,,524 3,,832 4,,080 36,,179 28,,461 4,,428 3,,290 27,,031 13,,865 4,,368 8,,798 15 2 ,883 5 ,831 4 ,823 20,,096 5 ,435 13,,134 12,,099 7,,459 • 3 4 5 6 Revaluation by type of asset Residential structures Nonres. plant 6 equipment Consumer durables 11 12 13 14 Change in the value of land holdings 15 -15, 824 + Reval. of corporate equities 16 17 Change in value -17,,534 18 -Net purchases -1,,710 16 17 18 79 ,064 76,,459 -2,,605 50,,983 50,,811 -172 73,,000 70,,891 -2,,109 -59,,261 -59,, 984 -723 149,,497 144,,827 -4,,670 144 ,978 137,,490 -7,,488 -108,,946 -111,,778 -2,,832 19 20 21 3 ,906 17 ,792 13 ,886 4,,050 20,,173 16,,123 4,,073 20,,993 16,,920 -4,,953 14,,219 19,,172 8,,318 26,,958 18,,640 6,,569 26,,324 19,,755 -5,,956 15,,551 21,,507 2.,275 26,,186 23,,911 22 23 24 10 ,198 11 ,837 1,,639 15,,841 15,,190 -651 21,,161 21,,477 316 27,,782 26,,997 -785 17,,557 16,,607 -950 32,,603 30,,671 -1,,932 30,,745 26,,278 -4,,467 23,,787 18,,210 -5,,577 • • Reval. of life Insurance 8 pension fund reserves Change in value -Net acquisitions 19 20 21 Reval. of noncorp. equity Change In value -Net inv. in noncorp. bus. 22 23 24 25 155 833 -20 11 129 -147 956 -1.,688 Other revaluations 25 26 136 ,620 138 ,009 164,,073 73,,472 273,,102 321,,531 37.,622 131.,137 Change In net worth 26 27 415,,834 451,,413 486,,808 525,,910 562.,092 609,,582 656.,687 Data are in millions of dollars. 715.,595 Memo: Disp. personal income 27 May 1987 Households Households 4 4 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1971 1972 1973 1977 1974 1978 Households, Personal Trusts, and Nonprofit Organizations 1 Gross inv.,Flow of Funds basis 187,478 220, 123 246, 502 259, 622 294, 704 322, 265 351, 341 401, 151 1 2 - Capital consump. allow.,NIPA 90, 201 97, 377 106, 567 120, 492 136, 744 151, 270 168,582 189,861 2 97,277 122, 746 139, 935 139, 130 157, 960 170, 995 182, 759 211, 290 3 785 137, 529 136, 744 860 152, 130 151, 270 981 169, 563 168, 582 1, 127 190, 988 189,,861 4 5 6 3 • Net investment flow, Balance Sheet basis 4 - Depreciation valuation adj. 5 Depreciation charges 6 -Cap. consump. allow., NIPA 505 90, 706 90, 201 548 97, 925 97, 377 618 107, 185 106, 567 704 121, 196 492 120, 7 • Reval. of physical assets 8 Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 43, 791 93, 957 90, 706 140, 872 47, 733 113, 976 97, 925 164, 168 86, 208 162, 420 107, 185 183,,397 145, 221 204, 418 121, 196 180, 393 78, 201 134, 546 137, 529 193,,874 110,,878 196,,264 152 130 237,,516 164, 051 278,.712 169,,563 284,,224 220,.465 7 357, 179 8 190,,988 9 327,,702 10 43, 791 41,,858 6,,384 -4,,451 47,,733 46 =,298 5,,274 -3,,839 86,,208 74,,410 7 ,190 4 ,608 145,,221 86,,496 14,,945 43,,780 78,,201 50,,936 4 ,126 23,,139 110,,878 89 ,336 7 ,397 14 ,145 164 ,051 134 ,077 10 ,536 19 ,438 220,,465 159,,384 24,,899 36,,182 11 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables • Change in the value of land holdings 16 • Reval. of corporate equities 17 Change in value 18 -Net purchases 19 20 21 • Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 22 • Reval. of noncorp. equity 23 Change in value 24 -Net inv. in noncorp. bus. 25 • Other revaluations 16 ,594 19 ,694 35 ,934 31,,762 18,,866 57 ,437 82 ,172 105 ,596 15 109 ,657 104 ,192 - 5 ,465 97 ,708 87 ,789 - 9 ,919 -206 ,615 -210 ,869 - 4 ,254 -215,,024 -215 ,339 -815 154 ,058 146 ,658 - 7 ,400 115 ,413 113 ,006 - 2 ,407 -38 ,088 -45 ,299 - 7 ,211 18 ,885 16 12 ,580 17 - 6 ,305 18 15 ,314 42 ,762 27 ,448 6 ,971 54 ,818 47 ,847 - 2 5 ,459 13 ,616 39 ,075 - 2 8 ,652 14 ,066 42 ,718 32 ,523 103 ,016 70 ,493 18 ,484 73 ,721 55 ,237 -16 ,298 61 ,732 78 ,030 7 ,464 19 95 ,917 20 88 ,453 21 44 ,165 40 ,499 - 3 ,666 72 ,401 64 ,796 - 7 ,605 131 ,873 124 ,974 - 6 ,899 114 ,504 99 ,616 - 1 4 ,888 107 ,804 93 ,683 - 1 4 ,121 154 ,994 131 ,328 - 2 3 ,666 178 ,427 150 .614 - 2 7 ,813 280 ,576 22 250 ,384 23 -30 ,192 24 -741 - 1 ,334 - 2 ,079 3 ,478 2 .853 -249 309 5 ,550 25 189 ,715 551 ,480 627 ,092 552 ,351 848 ,699 26 1038 ,372 1142 ,782 1252 ,645 1379 ,341 1551 ,229 27 26 * Change in net worth 325 ,552 365 ,371 159 ,179 27 Memo* 776 .784 839 ,596 949 ,769 Dlsp. personal income Data are in millions of dollars. 11 12 13 14 May 1987 Households Households Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1979 1980 1981 1982 1983 1984 1985 1986 Households. Personal Trusts, and Nonprofit Organizations 1 434 .218 491 ,541 564 .978 610 .715 606 .071 732 .024 712 ,778 722 .880 Gross Inv..Flow of Funds basis 1 2 214 .666 243 .053 263 .740 280 .277 294 .653 310 .383 332 .763 355 .036 2 3 219 .552 248 .488 301 .238 330 .438 311 .418 421 .641 380 .015 367 .844 Net investment flow. Balance Sheet basis 3 4 5 6 1 .311 215 ,977 214 .666 1 ,494 244 • 54 7 243,,053 1 .653 265 ,593 263 .740 1 .749 282 .026 280 .277 1 .804 29b ,457 294 .653 1 ,941 312 , 324 310 ,383 2 ,038 334 .801 332 .763 2 .154 357 ,190 355 .036 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 4 5 6 7 8 9 10 184,• 775 324 • 865 215,,977 3561• 067 188,• 929 287,• 077 244 • 547 342,• 695 162,,095 258 ,751 265 • 393 362,,049 - 6 7 .385 5 .572 282 .026 354 .983 122 ,220 253 .600 296 ,457 427,,837 34 .435 222 .330 312 ,324 500 .219 -19 .335 181 ,202 354 .801 535,,338 135 .219 + Revel. of physical assets 7 359 ,460 Change in value 8 357 ,190 Depreciation charges 9 581 .431 -Gross purchases, FOF basis 10 11 12 13 14 184,• 775 126,• 908 7 • 029 50,• 838 188,,929 108,,863 17,,308 62,,758 162,,095 105,• 580 17,• 376 39,• 139 - 6 7 .385 - 7 8 ,857 3 ,504 7 .968 122 ,220 106,,749 12,• 979 2,• 492 34 .435 31 .106 10 ,452 - 7 ,123 -19,,335 -20,• 323 3,• 032 -2,• 044 135 ,219 103 ,015 11,• 817 20,• 387 15 103,• 709 82,,159 124,• 350 - 9 8 ,250 195,• 610 52,,553 31,,076 140,• 003 16 17 18 174,• 064 151,• 119 -22.• 945 300,,588 294,,244 -6,,344 -17,,477 -46,,445 -28,,968 143,,413 145,,480 ' 2,• 067 173,• 646 188,,450 14,,804 72,• 911 36,• 518 -36,• 393 458,,173 457,,333 . -840 334,,181 + Reval. of corporate equities 16 403, 457 Change in value 17 69,,276 -Net purchases 18 19 20 21 18,• 466 124,• 591 106,• 125 57, 652 176,,192 118, 540 -32, 909 83, 065 115, 974 44,,565 171,,844 127,,279 63, 647 213, 845 150, 198 -10,,230 124,,102 134,,332 121, 333 271, 799 150, 466 94,,096 242, 183 148, 087 22 23 24 327,• 457 282,• 950 -44,• 507 329, 872 280, 254 -49, 618 236, 901 207, 714 -29, 187 33,,575 -12,,135 -45,,710 163, 535 73, 558 -89, 977 59,-564 -8,,897 -68,,461 52. 490 •351 -52,841 110, 744 + Reval. of noncorp. equity 53, 758 Change in value -56, 986 -Net inv. in noncorp. bus. * + • 25 5.• 446 Capital consump. allow..NIPA Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 11 12 13 14 Change in the value of land holdings 15 Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 1, 148 -4. 337 3,814 3, 230 3,,936 2. 414 -3. 957 26 1032,,158 1207, 342 768, 208 388,,421 1031, 502 632, 869 1024, 128 1175. 976 27 1729,,321 1917. 973 2127. 584 2261, 425 2428. 100 2670, 600 2827. 975 2972. 023 Memo: Data are In millions of dollars. * 19 20 21 22 23 24 Other revaluations 25 Change In net worth 26 Disp. personal income 27 May 1987 Farm Business Farm Business Sector Stock-Flow Reconciliation Statements 46 Annual Flows Annual Flows 1951 1948 Farm Business 1 Gross inv.,Flow of Funds basis 2 + Proprietors' net investment 5 - Capital consump.allow., NIPA - 1 ,550 1 ,858 2 ,092 2,,338 2 ,670 2,894 3 ,031 3 ,179 1 547 3 ,277 560 1,,663 1 ,644 -271 -1 ,292 -1 ,637 2 1 ,500 1 ,817 2 ,069 2 ,305 2 ,671 2,925 3 ,082 3 ,192 3 4 Net investment flow, Balance Sheet basis 597 3 ,318 583 1,,696 1 ,643 -302 -1 ,343 -1 ,650 4 5 6 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 65 1 ,565 1 ,500 74 1 ,891 1 ,817 81 2 ,150 2,,069 87 2,,392 2,,305 98 2 ,769 2 ,671 105 3,030 2,925 112 3 ,194 3 ,082 118 3 ,310 3 ,192 5 6 7 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 6 ,301 6 ,347 1 ,565 1 ,611 - 2 ,192 1,,959 1 ,891 6 ,042 -1,,651 -139 2,,150 3 ,662 6 .514 9 ,431 ! 2,,392 5 ,309 2 5 2 5 ,795 ,804 ,769 ,778 —565 -24 3,030 3,571 1 ,082 -667 3 ,194 1 ,445 614 8 -254 9 3 ,310 10 2,,442 11 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 6 ,301 1 ,725 1 ,417 3 ,159 -2,,192 629 645 -3,,466 -1,,651 187 — 64 - 1 ,774 61,514 780 756 4,,978 2 ,795 614 911 1 ,270 -565 29 1,929 -2,523 1 ,082 -197 1 ,968 -689 + Change in the value of land holdings 1 ,773 1,,199 104 9,,953 7,,021 670 -1 ,645 + Other revaluations 8 9 10 11 + 12 13 14 15 16 17 18 = Change in net worth - 8 ,606 - 2,,251 - - -1,,045 - 18,,076 11,,361 - 614 24 1,,831 -1,,241 3,,118 16 - " -302 - 2 ,018 12 13 14 15 17 1 ,964 18 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 2 + Proprietors' net investment 3 - Capital consump.allow.» NIPA - 4 5 6 7 8 9 10 11 + 12 13 14 15 + 16 17 • Net investment flow, Balance Sheet basis 3 ,899 4,,454 4 ,716 ,999 4! 5 ,695 6,009 6 ,255 6 ,462 1 669 1,,504 119 2, 693 163 435 1 ,157 -204 2 3 ,899 4,,454 4,,716 4,,999 5,,695 6,009 6 ,255 6,,462 3 669 1,,504 119 2, 693 163 435 1,,157 -204 4 -320 6,,142 6,,462 5 6 7 788 8 2,,458 9 6, 142 10 7,,812 11 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -219 3 ,680 3 ,899 -241 4,,213 4,,454 -252 4,,464 4,,716 -262 4 <737 4,,999 -289 5 ,406 5,,695 -301 5,708 6,009 -311 5,,944 6 .255 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 11 ,353 12 ,670 3 ,680 4,,997 4 ,514 7,,030 4,,213 6,,729 7,,667 7,,749 4,,464 4,,546 3,,396 7,,017 4, 737 8, 358 7,,152 7,,826 5,,406 6,,080 -4,943 -4,193 5,708 6,458 186 2,,083 5,,944 7,,841 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 11 ,353 6 ,752 3 , 186 1,,415 4,,514 2,,453 1, 347 714 7,,667 7,,824 321 -478 3, 396 139 2, 005 1, 252 7,,152 4,,672 2, 232 248 -4,943 2,278 -2,949 -248 186 1,,703 -1,,757 240 3,,074 2.,248 3.,134 2, 275 2, 894 1,616 2,,467 -2 3 2 8, 505 11,,175 8, 628 Change in the value of land holdings Other revaluations 18 = Change in net worth Data are in millions of dollars. - 15,,315 - 10, 498 - -2,591 1 4,,122 788 2, 135 -1, 447 100 12 13 14 15 3,,010 16 - 17 3, 914 18 May 1987 Farm Business Farm Business Sector Stock-Flow Reconciliation Statements 47 Annual Flows 1955 Annual Flows 1956 1957 1958 1959 1960 1961 1962 Farm Business 3,267 3 ,442 3 ,548 3,627 3,695 3,705 3,705 -2,431 -1 ,183 - 2 ,365 -939 -2,939 -1,683 -1,608 5 3,300 3 ,485 3 ,599 3,659 3,732 3,740 3,734 1= 1 2 Gross inv.,Flow of Funds basis 1 -1,763 + Proprietors' net investment 2 3,762 - Capital consump.allow., NIPA 3 = Net investment flow, -1,764 Balance Sheet basis 4 -2,464 -1 ,226 - 2 ,416 -971 -2.976 -1,718 -1,637 5 6 7 125 3,425 3,300 139 3 ,624 3 ,485 147 3 ,746 3,,599 157 3,816 3,659 168 3,900 3,732 176 3,916 3,740 183 3,917 3,734 192 - Depreciation valuation adj. 3,954 Depreciation charges 3,762 -Cap. consump. allow., NIPA 8 9 10 11 1,199 125 3,425 2,351 1,,538 1,,218 3,,624 3,,304 .774 2! 1 ,536 , 3,,746 2,,508 1 ,442 1,752 3,816 4,126 228 41 3,900 3,713 1,555 1,187 3,916 3,548 1,051 845 3,917 3,711 1,875 • Reval. of physical assets 8 2,089 Change in value 9 3,954 Depreciation charges 10 4,168 -Gross purchases, FOF basis 11 12 13 14 15 1,199 219 2,507 -1,527 1,,538 -9 1, 085 462 2, 774 -255 2. 431 598 1 ,442 -243 1,081 604 228 -153 919 -538 1,555 -157 878 834 1,051 -176 1,039 188 1,875 -142 1,246 771 16 4,218 7, 144 5, 969 9,434 5,822 1,283 5,673 5,147 17 18 - 2,828 - 7, 317 - 6, 180 - - 9,748 2,906 - - - Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 4 5 6 7 12 13 14 15 + Change in the value of land holdings 16 + Other revaluations 17 944 4,904 5,066 = Change in net worth 18 Nonfarm Noncorporate Business 1 6 ,778 7 ,355 7 ,784 7 ,986 8 ,226 8,469 8 ,635 8 ,864 Gross inv.,Flow of Funds basis 1 2 508 -97 1 ,452 1 ,161 371 -820 2 ,056 1 ,959 Proprietors' net investment 2 3 6 ,778 7 ,355 7 ,784 7 ,986 8 ,226 8,469 8 ,635 8 ,864 - Capital consump.allow., NIPA 3 Net investment flow, Balance Sheet basis 4 5 6 7 4 508 -97 1 ,452 1 ,161 371 -820 2 ,056 1 ,959 5 6 7 -331 6 ,447 6 ,778 -352 7 ,003 7 ,355 -369 7 ,415 7 ,784 -380 7 ,606 7 ,986 -396 7 ,830 8 ,226 -413 8,056 8,469 -430 8 ,205 8 ,635 -448 8 ,416 8 ,864 • Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 11 4 ,252 7 ,332 6 ,447 9,,527 6 ,419 6 ,599 7,,003 7,,183 1 ,459 3 ,593 7 ,415 9,,549 1,,740 2,,863 7,,606 8,,729 1 ,056 4 ,116 7 ,830 10,,890 648 2,679 8,056 10,087 -461 3 ,001 8,,205 11,,667 1 ,091 5 ,949 8 ,416 13,,274 * Reval. of physical assets 8 Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 11 12 13 14 15 4,,252 3,,664 268 320 6,,419 3,,216 2,,659 544 1,,459 1,,835 -637 261 1,,740 1,,699 365 406 1,,056 1,,906 -295 -555 648 1,889 -803 -438 -461 1,,492 359 -1. 594 1,,091 1,,005 -120 206 16 3, 345 5, 293 3,,154 3, 505 3,,590 4,895 3, 663 3,,514 -1 -2 1 9 -1 1 11, 966 6, 432 6, 787 5, 422 17 18 - 8, 436 Data are in millions of dollars. - 5,136 5, 687 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 12 13 14 15 • Change in the value of land holdings 16 • Other revaluations 17 7, 013 = Change in net worth 18 May 1987 Farm Business Farm Business Sector Stock-Flow Reconciliation Statements 48 Annual Flows Annual Flows 1963 1964 1965 1966 1967 1968 1969 1970 5,639 Farm Business 1 Gross inv.,Flow of Funds basis 2 • Proprietors' net investment 3 - Capital consump.allow., NIPA = Net investment flow, Balance Sheet basis 3,,690 3,,883 4, 092 4, 370 4,593 4,,895 5,,312 -2,,505 -2,,788 -2, 019 -2, 476 -882 -311 -1,,366 -438 3i,807 3 ,893 4, 046 4, 288 4,552 4 ,852 5,,251 5,631 -2,,622 - 2 ,798 -1,,973 -2,,394 -841 268 -1,,305 -430 5 - Depreciation valuation adj. Depreciation charges 6 -Cap. consump. allow., NIPA 7 203 4 ,010 3 ,807 212 4 ,105 3 ,893 227 4 ,273 4,,046 245 4 ,533 41 ,288 265 4,817 4,552 288 5 ,140 4 ,852 320 51.571 5,,251 349 5,980 5,631 8 + Reval. of physical assets Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 11 747 1 ,374 4 ,010 4 ,637 877 264 4 ,105 3 ,492 4 ,480 5,,847 4,,273 5 ,640 2,,274 3 ,028 4 ,533 5 ,287 1,864 3,498 4.817 6,451 5 5 5 5 ,327 ,985 ,140 ,798 7,,269 7 ,765 5 ,571 6,,067 2,605 3,491 5,980 6,866 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 747 -348 1 ,187 -92 877 256 1 ,095 -474 4 ,480 58 1 ,873 2 ,549 2 ,274 775 2 ,012 -513 1,864 440 1,584 -160 5 ,327 1 ,526 2 ,732 1 ,069 7 ,269 1 ,353 3,,338 2 ,578 2,605 744 2,606 -745 8 ,068 8 ,027 10 ,764 7 ,899 9,176 6 ,103 3 ,144 4,561 4 12 13 14 15 16 + Change in the value of land holdings 17 • Other revaluations 18 * Change in net worth - - 5 ,990 5 ,894 - • - 7 ,534 13 ,044 - -188 - - 10 ,874 8 ,788 6,199 -68 -1, 621 - 3 ,101 - 5 ,139 2 11,,614 12,,583 13,,831 14,,971 3 9,934 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 2 + Proprietors' net investment 4, 144 2, 137 1. 691 2,-335 Capital consump.allow., NIPA 9. 155 9, 569 10,,101 10.,850 4 Net investment flow, Balance Sheet basis 4.,144 2,,137 2,,335 1,,691 -68 -1.,621 -3,,101 -5,,139 4 5 6 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -475 8.,680 9,,155 499 i 9 ,070 9,,569 -537 9,,564 10,,101 -583 10,,267 10,,850 -629 10, 985 11,,614 -684 11,,899 12,,583 -765 13 • 066 13,,831 -817 14 ,154 14,,971 5 6 7 8 + Reval. of physical assets Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 11 -1,,860 4,,794 8 ,680 15,,334 2,,857 10,,171 9,,070 16,,384 2 ,534 11 ,081 9,,564 18 ,111 9,,238 15,,793 10,,267 16 ,822 4, 546 11,,356 10,,985 17,,795 16,,636 23,,872 11,,899 19,,135 14,,812 25 ,308 13 ,066 23 ,562 10 ,826 8 20 ,851 9 14 ,154 10 24 ,179 11 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories - 1 ,860 -956 247 -1,,151 2,,857 3,,007 540 -690 2 ,534 1 ,639 921 -26 9 ,238 6 ,729 2 ,393 116 4,,546 3,,742 1,,681 877 16 ,636 12 ,399 4 ,090 147 14 ,812 10 ,749 4 ,266 -203 10 ,826 5 ,206 5 ,182 438 3 ,507 41,218 3 ,968 8 ,443 2,,252 4 ,858 5 ,627 1 -3 -28 36 9 1 2 1 ,884 17 7 ,368 20 ,558 18 ,105 12 ,445 18 3 - 12 13 14 15 * 16 17 + 18 = Change in the value of land holdings Other revaluations Change in net worth Data are in millions of dollars. 6 ,267 9 ,708 9 ,346 . 19 ,991 12 13 14 15 4 ,057 16 Ftr Farm^Busintss * Sector Stock-Flow Reconciliation Statements 4 9 Annuel Flows Annual Flow 1972 1973 1974 1975 1976 Farm Business 1 5. 957 6, 777 7,827 8, 530 10, 336 11. 215 12, 390 14. 459 6 r 2 -1. 740 -2, 758 ' - 2 ,209 -5. 335 -920 -7. 301 -6. 826 -7..881 * 3 5. 942 6, 605 7, 228 8,.308 9. 789 10. 771 12..099 13,.557 - 4 -1. 725 -2, 586 -1,.610 -5,,113 -373 -6, 857 -6,.535 —6,,979 1,,027 14,,584 13,,557 Balance Sheet basis Depreciation valuation a d d . Depreciation charges -Cap. consump. allow., NIPA 5 6 7 373 6..315 5,.942 421 7..026 6..605 467 7,.695 7,.228 549 8 ,857 8 ,308 672 10. 461 9, 789 768 11,.539 10,.771 891 12,,990 ,099 12, 8 9 10 11 8..274 10,,295 61,315 8 ,336 14,.121 15 .901 7 ,026 8 ,806 25,.038 31,.041 7 ,695 13 ,698 15 ,306 17 ,257 8 ,857 10 ,808 4..806 12,.075 10,.461 17,,730 7,.907 9,.692 11,.539 13,,324 12 ,047 17 ,101 12 ,990 18 ,044 8 32 ,416 + Reval. of physical assets Change in value 9 39 ,558 Depreciation charges 10 14 ,584 -Gross purchases# FOF basis 11 21 ,726 12 13 14 15 8 ,274 1 ,666 3 ,641 2 ,967 14 ,121 1 ,698 4 ,427 7 ,996 25 ,038 2 ,791 4 ,497 17 ,750 15 ,306 3 ,496 13 ,223 - 1 ,413 4,.806 2,,021 4,,315 -1,,530 7 ,907 3 ,210 7 ,281 - 2 ,584 12 ,047 4 ,600 9 ,394 -1 ,947 32 ,416 5 ,546 14 ,618 12 ,252 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 12 13 14 15 16 11 ,965 23 ,788 54 ,401 21 ,454 53 ,256 70 ,443 47 ,117 81 ,364 Change in the v land holdings 16 215 14 -11 -37 77 ,577 31 ,112 57 ,006 70 ,688 17 18 728 18 ,869 8 34 ,910 - 51 ,738 - 105 ,774 - 17 • 18 * Nonfarm Noncorporate Business 1 2 16,426 -1,926 17, 989 -4.847 37, 047 Gross inv.,Flow of Funds basis 19, 965 23, 013 26. 469 28. 901 32. 378 -4. 690 -9. 553 -13. 201 -16, 365 -20. 987 -22, 311 • Proprietors' net investment 28, 901 32..378 57. 047 - Capital consump.allow.. NIPA 3 16,426 17..989 19. 965 23. 013 26..469 4 -1,926 -4,.847 -4..690 -9..553 -13,.201 -16. 365 -20,.987 -22. 311 5 6 7 -880 15.546 16,426 -967 17,022 17,989 -1,.087 18,.878 19,,965 -1..254 21,.759 23,.013 -1,,455 25,,014 26,,469 -1..630 27..271 28..901 -1,,875 30,,505 32,,378 -2..156 34..891 37..047 8 9 10 11 18,932 34.305 15,546 30.919 17,,442 39,,997 17 ,022 39 ,577 30,,250 54,,218 18 ,878 42 ,846 52,,650 64,,200 21,,759 33,,309 30 ,538 30,,366 25 ,014 24 ,842 46..677 46,.986 27,.271 27,.580 64,,587 74 ,336 30 ,505 40,,254 97,.608 109,.288 34,.891 46,.571 Reval. of physical assets Change in value Depreciation charges -Gross purchases. FOF basis 12 13 14 15 18.932 11.017 6.103 1,812 17 ,442 11 ,510 5 ,089 843 30 ,250 20 ,634 8 ,746 870 52 ,650 27 ,680 24 ,104 866 SO ,558 21 ,926 11 ,556 - 2 ,944 46,,677 54,,327 11 ,771 579 64 ,587 50 ,759 15 ,234 - 1 ,406 97.608 66,514 31,274 -180 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 6,912 18 .766 25 .841 26 .233 23 .638 33 ,957 57 .013 73 ,228 17 -1.847 2 339 98 -1 ,763 -310 11 52 .827 70 .682 40 .667 65 ,589 102 .497 18 22.951 32 ,330 Data are in millions of dollars. 1 ,333 Net investment flow. Balance Sheet basis " • Depreciation valuation adj. Depreciation charges -Cap. consump. allow.. NIPA Change in the value of land holdings Other revaluations 152 ,014 = Change in net worth May 1987 Farm Business Farm Business Sector Stock-Flow Reconciliation Statements 50 Annual Flows Annual Flows 1982 Farm Business 1 Gross inv.,Flow of Funds basis 2 • Proprietors' net investment 3 - Capital consump.allow., NIPA 21,618 21,038 -11.,961 -16 ,895 -8,,022 - 9 ,887 - 1 5 ,565 5 ,702 11,,737 11 ,048 15,,343 17 ,591 19,,363 20,,455 20 ,781 20 ,927 20,,639 20,,076 -11,,046 = Net investment flow, Balance Sheet basis -16 ,430 - 7 ,799 - 9 ,390 - 1 4 ,987 6,,393 12,,896 12,,010 5 6 7 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 1,,193 16,,536 15 , 343 1 ,399 18 ,990 17 ,591 1,,570 20,,933 19,,363 1,,680 22 ,135 20,,455 1 ,725 22 ,506 20 ,781 1 ,743 22 ,670 20,,927 1,,714 ,353 20i,639 1 ,561 21,,637 20,,076 8 9 10 11 + Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 17,-372 27,,722 16,• 536 26,,886 29 ,796 26 ,208 18,,990 15 ,402 8,.469 14,,722 20,,933 27,,186 2,,785 - 2 ,889 22,,135 16,,461 18 ,866 4 ,460 22 ,506 8,,100 1 ,096 2 • 612 ,670 24,,186 - 7 ,643 -12 ,687 22,,553 17,,309 - 3 ,469 - 7 ,894 21,,637 17,,212 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 17,,372 5,,363 10,,065 1,,944 29 ,796 4 ,846 15 ,183 9,,767 8,,469 4,,549 12,,632 -8,.712 2,,785 -540 4,,181 856 18 ,866 3,,156 8,,118 7,,592 1,,096 2,,181 4,,597 -5,,682 -7,,643 576 -2,,170 -6,,049 -3,,469 2,,691 -2,,723 -3,,437 100,831 -11,772 -37,581 -17,174 -108,887 -85,430 -21 -4,071 62 750 564 17 105,943 -16,743 -103,079 -81,141 -43,267 18 4 12 13 14 15 16 + Change in the value of land holdings 17 • Other revaluations 78 = Change in net worth 1 -45,865 -50,811 16 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis Proprietors' net investment 2 3 - Capital consump.allow., NIPA 43 ,473 50 ,435 57 ,982 64 ,403 66 ,444 69 ,978 73 ,540 76 ,277 1 -32,,546 - 3 2 ,723 -21,,165 -35 ,823 - 7 4 ,412 - 7 4 ,163 - 6 4 ,578 -68 ,034 2 43,,473 50 ,435 57,,982 64 ,403 66 ,444 69 ,978 73,,540 76 ,277 3 = Net investment flow. Balance Sheet basis -32,,546 -32 ,723 -21,,165 - 3 5 ,823 - 7 4 ,412 -74 ,163 -64,,578 -68,,034 4 5 6 7 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -2,,505 40,,968 43,,473 - 2 ,893 47 ,542 50 ,435 -3,»226 54,,756 57,,982 - 3 ,418 60 ,985 64 ,403 - 3 ,522 62 ,922 66 ,444 - 3 ,671 66 ,307 69,,978 -3,,733 69,,807 73,,540 -3,,738 72,,539 76,,277 5 6 7 8 9 10 11 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 122,,687 125,,427 40,,968 43,,708 133 ,211 131 ,085 47 ,542 45 ,416 122,,929 136,,836 54,,756 68,,663 39 ,372 41 ,126 60 ,985 62 ,739 52 ,974 59 ,340 62 ,922 69,,288 81 ,897 99,,568 66,,307 83,,978 58,,925 77,,996 69,,807 88,,878 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 122,,687 98,,858 19,,796 4,,033 133 ,211 98,,271 32,,701 2,,239 122,,929 92,,223 37,,781 -7,,075 39 ,372 22,,791 14,,442 2,,139 52,,974 44,,107 6,,704 2,,163 81,,897 69,,392 13,,955 -1,,450 58 ,925 51,,284 10, 697 -3,,056 91,,947 102,,877 113,,136 19,,803 105,,329 79,,164 75, 939 -170 435 5,,159 3,,750 113 -3,,602 1,,091 1,,081 17 184, 423 206,,693 223,,285 30,,520 87,,526 86,,967 75,,110 93,,996 18 4 12 13 14 15 • Change in the value of land holdings + Other revaluations 16 17 18 = Change in net worth Data are in millions of dollars. 55,,493 8 84,,623 9 72,,539 10 101,,669 11 55,,493 49,,779 9,,289 -3,,575 12 13 14 15 101,,718 16 Hay 1987 Nonfinancial Corporate Business Nonfinancial Corporate Business 51 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1949 1947 1953 1950 Nonfinancial Corporate Business 22. 466 Gross inv.,Flow of Funds basis 1 12, 356 15,838 17, 972 16, 380 21, 730 21..954 22.,241 2 3 1, 093 1. 000 1,212 1, 288 2.,107 2..320 1.,766 1, 583 4 5 8. 974 -5,899 10. 424 -2.,152 11. 204 1.856 12.,023 -4. 965 13. 833 -1,,199 14,,840 1,,000 15..852 -1,.000 16,765 -300 6 10, 374 8..566 6..124 10..610 11.,203 8,,434 9,,155 7..584 7 8 9 8, 974 8. 974 10..424 10..424 11,.204 11,.204 -1 12..022 12,,023 13,,833 13,,833 2 14,,842 14,,840 2 15,,854 15,,852 -1 16..764 16..765 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 10 11 12 13 14.,398 29,.430 8,.974 24,.006 7,.765 20,.145 10,.424 22,.804 1,.893 3,.735 11,,204 13,,046 9.,508 26..478 12..022 28..992 8,,975 26,,895 13,,833 31,,753 3,,465 13,,039 14,,842 24,,416 1,,641 13,,022 15,,854 27,,235 1..231 8..031 16..764 23.,564 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 14 15 16 17 14..398 151 13.,319 928 7,,765 -124 6,,752 1,.137 1,,893 10 2,,738 •855 9,508 -828 9,292 1,044 8,975 116 9,129 -270 5,,465 -361 3 ,947 -121 1,,641 -105 1,,669 77 1,231 -554 1,589 196 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 18 3,,195 2,,455 1 ,940 2,,932 3 • 381 2 ,983 3 ,987 5.,306 Change in the value of land holdings 18 683 1,,191 508 890 1 ,742 852 797 1 ,532 735 711 1,,378 667 Reval. of fgn. dir. invest. Change in value -Direct investment 20 177 267 90 155 287 132 148 306 158 258 382 124 - = 19 20 21 390 1,,139 749 538 1,,259 721 415 1,,075 660 467 1,,088 621 22 23 24 90 100 10 150 184 34 98 154 56 370 450 80 25 - - 26 28 ,267 19 ,174 -3 -300 1 10,,273 231,148 24 ,065 15 ,612 15,,130 14,,576 6 ,124 10 ,610 11 ,203 8 ,434 9 ,155 7 ,584 -783 13,645 9,988 24,416 -915 15,304 11,016 27,235 -1 ,406 10 ,033 12 ,125 23 ,564 -1 - - * Corporate equity issues Min. rights from U.S. govt. Capital consump.allow., NIPA Inventory valuation adj. Net investment flow. Balance Sheet basis Reval. of dir. inv. in U.S. Change in value -Direct investment 7 8 9 10 11 12 13 19 21 22 23 24 • Other revaluations 25 • Change in net worth 26 Tangibles and net worth on historical cost basis: 27 10 ,374 8 ,566 • Net investment flow 27 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 28 28 29 30 31 -1 ,225 17 ,012 5 ,769 24 ,006 -956 15 ,300 6 ,548 22 ,804 -395 5 ,316 7 ,335 13 ,046 -1 ,390 19 ,486 8 ,116 28 ,992 -686 22 ,061 9 ,006 31 ,753 32 302 244 194 294 321 -261 552 345 33 34 35 - 3 ,205 5 ,769 8 ,974 - 3 ,876 6 ,548 10 ,424 - 3 ,869 7 ,335 11 ,204 - 3 ,907 8 ,116 12 ,023 - 4 ,827 9 ,006 13 ,833 - 4 ,852 9 ,988 14 ,840 - 4 ,836 11 ,016 15 ,852 - 4 ,640 12 ,125 16 ,765 36 390 538 415 467 683 890 797 711 • Reval. of fgn. dir. invest. 36 37 90 150 98 370 177 155 148 258 Reval. of dir. inv. in U.S. 37 38 - - -1 - - -3 -300 1 Other revaluations 38 12 ,974 13 ,977 11 ,617 Change in net worth 39 39 12 ,956 12 ,118 10 ,108 13 ,518 16 ,171 • Change in the value of land holdings Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA - (1) Before inventory valuation adjustment. Data are in millions of dollars. 29 30 31 May 1987 Nonflnancial Corporate Business 52 Nonflnancial Corporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1955 1956 1957 1958 1959 1960 1961 1962 Nonfinanclal Corporate Business 1 Gross inv.,Flow of Funds basis 2 • Corporate equity issues 3 - Min. rights from U.S. govt. 4 - Capital consump.allow., NIPA 5 - Inventory valuation adr. 6 = Net investment flow, Balance Sheet basis 7 - Depreciation valuation adj. 8 Depreciation charges 9 -Cap. consump. allow., NIPA 10 • Reval. of physical assets Change in value 11 Depreciation charges 12 -Gross purchases (1) 13 14 15 16 17 18 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) • Change in the value of land holdings 25, 634 25,,960 28, 418 26, 974 31,,798 28,,802 31,,601 38,,976 1 1, 719 2,,250 2, 441 1, 968 2,,078 1,,365 2,,121 369 2 3 - - - - - 17, 785 -1,,750 20,,032 -2,,675 22, 048 -1. 525 23, 059 •250 24,,135 -277 25,,134 -173 25,,882 271 26,,827 26 4 5 11,,318 10,,853 10,,336 6, 133 10,,018 5 ,206 7 ,569 12,,492 6 -1 17,,784 17,,785 -1 20,,031 20,,032 2 22, 050 22, 048 23, 059 23, 059 24,.135 24,,135 1 25,,135 25,-134 25 ,882 25 ,882 26,,827 26,,827 7 8 9 10,,438 26,,953 17,,784 34,,299 15,,717 35,,539 20,,031 39,,853 6,,518 21,,724 22,,050 37,,256 1,,888 6, 877 23,,059 28,,048 3,,849 17,,951 24,,135 38,,237 -1,,651 11,,232 25,,135 38,,018 -363 9 ,950 25 ,882 36 ,195 -541 16,,371 26,,827 43,,739 10 11 12 13 10,,438 -234 9 ,651 1,,021 15,,717 232 15,,009 476 6,,518 63 6,,745 -290 1,,888 -330 1,,931 287 3,,849 -293 3,,654 488 -1,,651 239 - 2 ,086 196 -363 -188 -1 ,148 973 -541 -306 266 -501 14 15 16 17 4,,642 7 ,382 7,,559 6,,744 5,,787 5 ,097 5 ,622 1,,916 18 19 + Reval. of fgn. dir. invest. Change in value 20 -Direct investment 21 941 1 ,764 823 1 ,159 3 ,110 1 ,951 447 2,,889 2,,442 834 2,,015 1,,181 1,,046 2,,418 1 ,372 -901 2 ,038 2 ,939 201 2 ,852 2 ,651 -290 19 2 ,559 20 2 ,849 21 22 - Reval. of dir. inv. in U.S. Change in value 23 -Direct investment 24 246 443 197 151 383 232 96 251 155 307 405 98 251 489 258 -9 306 315 173 482 309 -125 22 220 23 345 24 25 • Other revaluations 26 = Change in net worth 99 -1 1 -1 -158 1 -102 -1 25 27 ,193 34 ,960 24 ,763 15 ,291 20 ,291 7 ,760 12 ,754 13 ,701 26 Tangibles and net worth on historical icost basis: 27 * Net investment flow 11 ,318 10 ,853 10 ,336 6 ,133 10 ,018 5 ,206 7 ,569 28 • Reval. of physical assets Change in value 29 Depreciation charges 30 -Gross purchases CI) 31 - 1 ,908 19 ,209 13 ,182 34 ,299 -1 ,033 24 ,405 14 ,415 39 ,853 - 1 ,323 20 ,233 15 ,700 37 ,256 - 1 ,708 9 ,487 16 ,853 28 ,048 -765 19 ,547 17 ,925 38 ,237 -837 18 ,054 19 ,127 38 ,018 265 16 ,105 20 ,355 36 ,195 • Change in the value of land holdings 12 ,492 27 -1 ,960 20 ,195 21 ,584 43 ,739 28 29 30 31 655 1 ,212 745 1 ,514 1 ,607 1 ,519 2 ,054 1,,858 32 - 4 ,603 13 ,182 17 ,785 - 5 ,617 14 ,415 20 ,032 - 6 ,348 15 ,700 22 ,048 - 6 ,206 16 ,853 23 ,059 - 6 ,210 17 ,925 24 ,135 -6 ,007 19 ,127 25 ,134 - 5 ,527 20 ,355 25 ,882 -5,,243 33 21,,584 34 26 ,827 35 36 • Reval. of fgn. dir. invest. 941 1 .159 447 834 1 ,046 -901 201 -290 36 37 - Reval. of dir. inv. in U.S. 246 151 96 307 251 -9 173 -125 37 99 -1 1 -1 -158 1 -102 -1 38 15 ,462 17 ,656 16 ,458 12 ,671 17 ,707 11 ,004 15 ,341 17 ,467 39 32 33 - Depreciation valuation adj. Depreciation charges 34 -Cap. consump. allow., NIPA 35 38 • Other revaluations 39 = Change in net worth (1) Before inventory valuation adjustment. Data are in millions of dollars. May 1987 Nonfinanciel Corporate Business Nonfinanclal Corporate Business 53 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1963 1964 1965 1966 1967 1968 1969 1970 56 ,946 57 ,165 62 ,336 2 ,397 -159 1 ,330 3 ,406 44 5 ,694 329 Nonfinanclal Corporate Business ! 1 1 38 ,770 43 ,173 49 ,650 2 5 -341 1 ,145 -28 1 ,259 56 - - 58 ,517 Gross inv.#Flow of Funds basis 4 5 28 • 002 54 29 ,448 -494 31 ,459 - 1 ,245 34 ,281 -2,,107 37 ,556 -1 ,554 41 ,448 - 3 ,651 45 ,399 - 5 ,870 49 ,857 - 6 ,552 6 10,,573 151,364 19 ,408 25,,925 23 ,341 17 ,879 26,,169 20 ,577 -1 411,447 41 ,448 45 ,399 45 ,599 49 ,857 49 ,857 - 7 8 9 29 ,448 29,,448 1 31 ,460 31 ,459 34 ,281 34 ,281 1 37 ,557 37 ,556 28,.002 28 . 002 10 11 12 13 1,,783 18 ,300 28 ,002 44 ,519 4,,396 25 ,552 29 ,448 50,,604 6 ,642 38 ,087 31 ,460 62 ,905 13,,466 56 ,634 34,,281 77,,449 13 ,567 48 ,794 37,,557 72,,784 26 ,996 63 ,303 41 ,447 77 ,754 28 ,420 72,,191 45 ,399 89,,170 30 ,873 66 ,490 49 ,857 85 ,474 14 15 16 17 1 ,783 -279 784 1,,278 4,,396 182 3,,169 1,,045 6 ,642 -116 6 ,675 83 13,,466 868 12,,363 235 13,,567 -520 12,,654 1,,433 26 ,996 1 ,114 24 ,285 1 ,597 28 ,420 1,,401 24 ,417 , 2,,602 30 ,873 497 31 ,863 -1 ,487 18 1,,973 3,,091 3 ,251 3,,654 234 26 3,,654 2 ,651 19 20 21 -21 3 ,460 3 ,481 -14 3 ,744 3 ,758 -16 4,,803 4,,819 -3,,098 1,,724 4,,822 -35 4,,322 4.,357 53 3,,218 3,,165 227 5,,157 4.,930 -201 6 ,565 6 ,766 22 23 24 101 332 231 99 419 320 19 434 415 -167 257 424 172 869 697 86 892 806 -258 1.,003 1,,261 -9 1 ,452 1 ,461 - - . 1 - Corporate equity issues Min. rights from U.S. govt. 2 3 - Capital consump.allow., NIPA Inventory valuation adj. 4 5 + . Net investment flow. Balance Sheet basis Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 6 7 8 9 Reval. of physical assets Change in value Depreciation charges -Gross purchases CI) 10 11 12 13 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 14 15 16 17 + Change in the value of land holdings 18 • Reval. of fgn. dir. invest. Change in value -Direct investment 19 20 21 Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 Other revaluations 25 + 25 25 209 1 1 741 26 14 ,032 22,,947 29,,265 40.,115 36.,935 45,,610 27. 10 ,373 15,,364 19 ,408 25,,925 23,,341 17,,879 26.,169 20,,577 = Net investment flow 28 29 30 31 -75 21 ,478 22 ,966 44 ,519 -664 25 ,441 24,,499 50,,604 -1,,778 34 ,763 26 ,364 62,,905 -2,,206 46.,603 28.,640 77.,449 -1,,106 40.,551 31,,127 72.,784 -72 43,,994 33.,688 77.,754 601 53.,044 36,,727 89.,170 -750 44,,834 39,,890 85,,474 32 1 ,858 1,,988 2,,576 2.,349 2.,175 2.,290 4. 258 1.,652 33 34 35 - 5 ,036 22 ,966 28 ,002 -4,,949 24,,499 29,,448 - 5 ,095 26,,364 31, 459 -5,,641 28.,640 34.,281 -6.,429 31.,127 37.,556 -7.,760 33. 688 41. 448 -8. 672 36. 727 45, 399 -9.,967 39,,890 49,,857 36 -21 -14 -16 -3.,098 -35 53 227 -201 • Reval. of fgn. dir. invest. 37 101 99 19 -167 172 86 •258 -9 - Reval. of dir. inv. in U.S. 37 38 25 209 1 1 741 - 31 Other revaluations 38 39 17 ,095 21,,733 28.,779 30. 633 28. 565 - - 58.,728 31 • 53,,940 e Change in net worth 26 Tangibles and net worth on historical cost basis: - 25,,266 40, 185 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 28 29 30 31 • Change in the value of land holdings 32 - Depreciation valuation adj. 33 Depreciation charges 34 -Cap. consump. allow., NIPA 35 31.,285 = Change in net worth (1) Before inventory valuation adjustment. Date are in millions of dollars. 27 • 36 39 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1971 1972 1973 1974 1975 1976 1977 1978 Nonfinancial Corporate Business 1 Gross inv.,Flow of Funds basis 70,,210 78,,059 87,,873 851,961 119 ,838 133,,317 145,,839 163 ,098 1 2 + Corporate equity issues 3 - Min. rights from U.S. govt. 11,,435 717 10,.922 912 7,,883 3,,168 4,,097 6,,490 9,,908 1 ,323 10,,524 3,,973 2,,727 2,,470 -101 1 ,973 2 3 Capital consump.allow., NIPA Inventory valuation adj. 54,,783 -4,,584 60,,111 -6,,610 65,,223 -20,,022 76,,301 -39,,457 91 ,878 - 1 0 ,952 102,,301 -14,,911 114,,321 -16,,637 129 ,844 -25 ,298 4 5 Net investment flow, Balance Sheet basis 30,,729 34,,568 47,,387 46,,724 47,,497 52,,478 48 ,412 56 ,478 6 1 129 ,845 129 ,844 7 8 9 4 5 - 6 -2 91 ,876 91 ,878 102,,301 102,,301 1 114 ,322 114 ,321 171,,363 266,,633 76,,301 171.,571 94 ,568 124 ,518 91 ,876 121,,826 74,,418 139,,992 102,,301 167,,875 96 ,563 176 ,086 114 ,322 193 ,845 162 ,359 272,,776 129,,845 240,,262 10 11 12 13 59,,207 2,,643 47,,813 8,,751 171,,363 2,,771 152,,172 16,,420 94 ,568 1 ,517 88 ,420 4,,631 74,,418 932 67,,987 5,,499 96,,563 813 87 ,870 7,,880 162,,359 2,,316 143,,510 16,,533 14 15 16 17 8,,399 12,,407 22,,891 6 ,125 13,,932 22 ,653 33,,929 18 -627 5 ,115 5 ,742 85 10,,212 10 ,127 -285 8,,649 8 ,934 -270 13,,776 14 ,046 812 12 ,443 11 ,631 - 2 ,707 8 ,799 11 ,506 289 19 16 ,379 20 16 ,090 21 5 954 949 2 ,890 5 ,688 2 ,798 -170 4 ,588 4 ,758 -83 2 ,518 2 ,601 -1,,237 3 ,108 4 ,345 99 3 ,825 3 ,726 -19 22 7 ,876 23 7 ,895 24 - 1 54 > 784 54 ,783 , -2 60,.109 60,,111 65,,223 65,,223 36 ,240 70 ,493 54 ,784 89 ,037 31,,829 72,,428 60,,109 100,,708 59,,207 129,,855 65,,223 135,,871 36 ,240 1 ,165 34 ,648 427 31,,829 1,,986 28,,022 1,,821 Change in the value of land holdings 2 ,979 19 + Reval. of fgn. dir. invest. Change in value 20 -Direct investment 21 -336 6 ,119 6 ,455 Reval. of dir. inv. in U.S. Change in value -Direct investment 278 644 366 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 10 + Reval. of physical assets Change in value 11 Depreciation charges 12 -Gross purchases (1) 13 Revaluation by type of asset Residential structures Nonres. plant S equipment Inventories (1) 14 15 16 17 + 18 22 23 24 25 + Other revaluations 26 = Change in net worth - 76,,301 76,• 501 - 797 65 55 28,,713 -182 3 ,045 -1 ,466 131 25 70 ,130 74 ,231 116,,251 269,,576 147 ,823 145,,922 163 ,355 253,,204 26 56,,478 27 Tangibles and net worth on historical cost basis: 27 = Net investment flow * Reval. of physical assets Change in value Depreciation charges -Gross purchases CI) + 32 Change in the value of land holdings 33 34 35 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 28 29 30 31 30 ,729 34,,568 47,,387 46,,724 47 ,497 52,,478 48,,412 - 2 ,863 43 ,205 42 ,969 89 ,037 1,,581 55 ,464 46,,825 100,,708 1 ,318 86 ,429 50 ,760 135 ,871 7,,180 123,,071 55 ,680 171,,571 3 ,551 64 ,361 61 ,016 121,,826 -3,,074 98,,002 66,,799 167,,875 497 120,,339 74,,003 193,,845 1,,869 159,,120 83,.011 240,,262 28 29 30 31 1 ,935 2 ,871 4 ,518 3,,889 1 ,178 1,,514 2,,936 4,,222 32 -11 ,814 42 ,969 54 ,783 -13,,286 46 ,825 60,,111 - 1 4 ,463 50 ,760 65 ,223 -20,,621 55,,680 76 ,301 - 3 0 ,862 61 ,016 91 ,878 -35,,502 66,,799 102,,301 -40,,318 74,,003 114,,321 —461,833 33 83,.011 34 129,,844 35 36 • Reval. of fgn. dir. invest. -336 -627 85 -285 -270 812 -2,,707 289 36 37 - Reval. of dir. inv. in U.S. 278 5 2 ,890 -170 -83 -1,,237 99 -19 37 38 + Other revaluations 39 = Change in net worth 797 65 55 28 ,713 -182 3,,045 — 1,,466 131 38 41 ,798 51 ,739 64 ,936 107 ,012 82 ,719 91,,514 87,,891 109,,841 39 CI) Before inventory valuation adjustment. Data are in millions of dollars. May 1987 Nonfinanclal Corporate Business Nonflnancial Corporate Business Sector Stock-Flow Reconciliation Statements 55 Annual Flows 1979 Annual Flows 1980 1981 1982 1983 1984 1985 1986 Nonfinanclal Corporate Business 1 207 ,692 195 ,708 206 ,149 206 ,754 253 ,452 292 ,006 307 ,923 323 ,752 Gross inv.,Flow of Funds basis 1 2 3 - 7 ,836 4 ,745 12 ,875 4 ,997 -11 ,450 4 ,847 11 ,386 7 .791 28 ,311 7 ,785 -76 ,980 7 ,902 -81 ,600 4 ,576 -80,750 + Corporate equity issues 7 ,194 - Min. rights from U.S. govt. 2 3 4 5 149 ,609 -43 ,175 171 ,262 -43 ,129 198 ,782 - 2 4 ,189 221 ,395 -10 ,350 228 ,196 - 1 0 ,900 237 ,905 - 5 ,475 250 ,584 -550 261 ,412 6 ,500 4 5 6 88 ,677 75 ,453 15 ,259 -694 56 ,682 - 2 5 ,306 -28 ,087 -32 ,104 7 8 9 -1 149 , 608 149 ,609 -1 171 ,261 171 ,262 1 198 ,783 198 ,782 9 221 ,402 221 ,393 -12 228 ,184 228 ,196 21 237 ,926 237 ,905 -11 250 ,573 250 ,584 330 261 ,742 261 ,412 10 11 12 13 148 ,314 275,,387 149,,608 276,,681 208 ,228 319 ,169 171 ,261 , 282 ,202 215 ,321 322 ,219 198 ,783 305,,681 76 ,245 113,,732 221,,402 258,,889 63 ,363 113 ,124 228 ,184 277,,945 62 ,137 193 ,025 237 ,926 368 ,814 24 ,456 123 ,173 250 ,573 349,,290 - 3 ,493 + Reval. of physical assets 73 ,463 Change in value 261 ,742 , Depreciation charges 338 ,698 -Gross purchases (1) 10 11 12 13 14 15 16 17 148,,314 3,,944 119,,907 24,,463 208,,228 4 ,411 186,,109 17,,708 215,,321 4,,712 193,,357 17,,252 76,,245 -1,,018 81,,875 -4,,612 63,,363 -2,,183 27,,672 37,,874 62 ,137 1 ,613 51,,738 8 ,786 24,,456 700 15,,996 7,,760 -3,,493 -657 43,,997 -46,,833 14 15 16 17 18 32,,031 50,-710 51,,935 28, 953 26,,502 37,,804 31,,417 34,,410 19 20 21 •343 26,,479 26, 822 6,,674 30,,227 23, 553 3,,777 16,,359 12,,582 -19,,618 -11,,479 8,,139 -7,,235 2,,587 9,,822 -7,,450 6,,821 14,,271 6,,521 17,,333 10, 812 9,852 + Reval. of fgn. dir. invest. 30,,310 Change in value 20, 458 -Direct investment 19 20 21 22 23 24 115 11 ,991 11,876 11,,666 28, 584 16, 918 472 25,.668 25, 196 2, 171 15, 963 13. 792 437 12, 384 11, 947 2,,163 27,,522 25,,359 511 18, 368 17, 857 800 14. 896 14, 096 Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 Other revaluations - Capital consump.allow., NIPA Inventory valuation adj. - Net investment flow. Balance Sheet basis 6 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories CI) • Change in the value of land holdings 18 25 811 1, 010 101 568 -3, 427 211 -5, 984 -9, 106 26 269, 376 330, 410 285, 920 82, 138 135, 460 65, 212 27, 823 -1. 571 = Change in net worth 27 88 ,677 75 ,453 15 ,259 -694 56 ,682 -25 ,306 -28 ,087 - 3 2 ,104 = Net investment flow 27 28 29 30 31 6 ,923 189 ,273 94 ,331 276 ,681 6 ,332 182 ,129 106 ,405 282 ,202 13 ,754 199 ,712 119,,723 305,,681 -10 ,895 114 ,148 133 ,846 258,,889 - 5 ,538 125 ,128 147 ,279 277 ,945 1 ,412 208 ,474 161 ,752 368 ,814 - 4 ,398 166 ,959 177 ,933 349 ,290 36 ,310 + Reval. of physical assets 181 ,549 Change in value 193 ,459 Depreciation charges 338 ,698 -Gross purchases CI) 28 29 30 $1 32 3 ,615 6 ,570 7,,854 5 ,442 7,,670 7 ,583 8,,190 5 ,528 33 34 35 -55 ,278 94,,331 149,,609 -64,,857 106,,405 171,,262 -79,,059 119,,723 198,,782 -87,,547 133,,846 221,,393 -80,,917 147,,279 228,,196 -76 ,153 161 ,752 237 ,905 -72,,651 177,,933 250,,584 - 6 7 ,953 193,,459 261,,412 36 -343 6,,674 3,,777 -19,,618 -7,,235 - 7 ,450 6,,521 9,,852 37 115 11,,666 472 2,,171 437 2 ,163 511 800 38 811 1,,010 101 568 -3,,427 211 -5,,984 -9,,106 + Other revaluations 38 39 154,,846 149,,230 119,,332 59,,043 128,,632 50,,440 48,,382 77,,633 = Change in net worth 39 25 26 Tangibles and net worth on historical cost basis: + Change in the value of land holdings Reval. of fgn. dir. invest. - Reval. of dir. inv. in U.S. CI) Before inventory valuation adjustment. Data are in millions of dollars. 52 Depreciation valuation adj. 33 Depreciation charges 34 -Cap. consump. allow., NIPA $5 36 37 May 1987 Private Financial Institutions 56 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1949 1950 1951 Private Financial Institutions 1 Gross Inv.tFlow of Funds basis 3,495 1 610 408 856 522 2 3 325 375 409 4 1,887 1,124 1,743 4 ,464 4,464 5,779 5,779 5,411 5,411 7 103 96 1,228 1.555 327 35 274 239 -160 137 297 231 231 260 260 271 271 283 283 325 325 351 352 374 375 484 502 231 249 130 223 260 353 -13 73 271 357 220 331 283 394 313 419 325 431 —56 149 351 556 21)7 2<>5 374 -66 -73 288 361 1,628 2,506 878 358 1,347 989 120 845 725 166 1,609 1,443 -221 1,075 1,296 2 + Corporate equity issues 3 - Mutual fund shares issued 297 209 178 96 358 327 357 239 488 297 4 - Capital consump.allow.. NIPA 231 260 271 283 = Net Investment flow, 5 Balance Sheet basis 707 1,145 960 3,945 3,945 4,259 4,259 9 - Reval. of mutual fund shares 10 Change in value 11 -Shares issued -94 115 209 12 - Depreciation valuation adj. 13 Depreciation charges 14 -Cap. consump. allow., NIPA • Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases» FOF basis - Reval.of life insurance and 6 pension fund reserves 7 Change in liability 8 -Net claims issued 15 16 17 18 706 531 7 6,662 6,655 -81 450 531 -1 4 7,262 7,253 -193 215 408 -1 4:52 53 7,758 7,705 1,441 9 1,963 10 522 11 12 409 13 409 14 13 257 409 653 15 16 17 18 • Change in the value of 19 land holdings 20 • Reval. of corp.equity hldgs. 21 Change in value 22 -Net purchases 23 + Other revaluations 24 = Change in net worth Data are In millions of dollars. 348 414 27 -21 -26 -36 -40 -50 1,319 1,207 1,334 2,447 1,743 2,202 -72 1.9ii3 3,052 20 4,787 21 1,735 22 -89 23 5,026 24 May 1987 Private Financial Institutions Private Financial Institutions 57 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1962 1958 1955 Private Financial Institutions 2,145 2,164 2,120 3, 174 2. 648 3,316 3. 979 832 780 1.378 1.049 1.409 1,070 1. 798 1. 596 1, 965 1. 698 1,584 1,383 2, 559 2, 125 434 503 553 576 609 652 685 1.763 1.950 1.946 2.,800 2.865 3,,728 1. 901 1. 661 a Net Investment flow. Balance Sheet basis 3,,798 - R -3,,266 8,,288 11,,554 pension fund reserves Change in liability -Net claims issued -3,,265 -1,,604 1,,661 Change in value -Shares issued 88 10.634 10,546 4,,201 15,,275 11,,074 2 ,931 4 ,527 1 ,596 879 2,,577 1,,698 -175 1.208 1,383 3,,724 5,,849 2,,125 -1 552 553 - - - 576 576 609 609 652 652 685 685 -1 725 726 479 728 503 752 142 453 552 863 61 351 576 866 113 527 609 1 ,023 280 435 652 807 115 458 685 1 ,028 576 833 725 982 205 210 218 217 216 271 221 2.265 10.273 8,008 5 8.348 8.343 -662 8.304 8.966 2,> 733 12,.121 9,,388 9 10 11 949 1.729 780 159 1.208 1.049 -1.402 -332 1.070 12 15 14 434 434 503 503 15 16 17 18 359 672 434 747 19 151 •porate equity issues :ual fund shares issued 726 - Capital consump.allow.. NIPA 1,,246 12,,122 10,,876 6 7 8 _ 2,,306 4.284 284 Gross inv..Flow of Funds basis 4. 1 2 3 4 5 6 7 8 hares 9 10 11 adj. 12 13 Depreciation charges -Cap. consump. allow., NIPA 14 Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases. FOF basis + Change in the value of land holdings - 7 .696 + Reval. of corp.equity h Change in value - 3 .468 -Net purchases 4 .228 15 16 17 18 19 20 21 22 21 22 4.774 6.416 1.642 304 1.802 1.498 -2,610 -416 2.194 8 ,226 10 .831 2 ,605 2 ,926 6 ,273 3 ,347 189 3,605 3.416 10 ,742 15 .146 4 .404 23 -111 -132 -163 -178 -68 -179 124 -119 23 24 3,722 2,636 1.594 5 ,463 3 ,369 3,458 7 .055 3 .312 24 20 Data are in millions of dollars. May 1987 Private Financial Institutions Private Financial Institutions Sector Stock-Flow Reconciliation Statements 58 Annual Flows Annual Flows 1969 1970 Private Financial Institutions 1 Gross inv.»Flow of Funds basis 2 + Corporate equity issues 3 - Mutual fund shares issued 4 - Capital consump.allow.» NIPA 5 Net investment flow, Balance Sheet basis 6 7 8 Reval.of life insurance and pension fund reserves Change in liability -Net claims issued 2, 464 3,,929 5, 337 3,,062 3,,617 6 ,949 1, 758 -57 1 7. 5,,735 4 ,533 2,,551 2 3 1,.73? 1, 400 2,,178 2,,006 3, 247 3,,220 3, 710 3,,634 2,,615 2,,535 5 .46: 4 ,816 794 867 980 1,,109 1,,273 1,,497 1,,644 1 ,799 4 2,.009 3,,234 2,,384 2,,029 2,,424 6 ,078 1,,450 1:6 5 3,,906 16,,500 12,,594 4 ,050 18 ,820 14 ,770 4,,073 19,,544 15,,471 -4,,953 12,,859 17,,812 8,,318 25,,563 17,,245 6 ,569 25 ,002 18 ,433 - 5 ,956 13 966 19.,922 2 ,275 23 ,699 21.,424 6 7 8 2 ,109 6 ,925 4 ,816 -9,,380 -3,,645 5,,735 - 3 ,327 9 -776 10 2 ,551 11 9 10 11 Reval. of mutual fund shares Change in value -Shares issued 2,,543 3,,943 1,,400 1,,896 3 ,902 2 ,006 2,,884 6,,104 3,,220 -4,,025 -391 3,,634 6 ,943 9 ,478 2 ,535 12 13 14 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -1 793 794 -1 866 867 -1 979 980 -1 1 ,108 1 ,109 1 ,273 1 ,273 1 ,497 1 ,497 1 ,644 1 ,644 - 1 12 1 ,798 13 1 ,799 14 Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 164 717 793 1 ,346 664 1 ,228 866 1 .430 719 1 ,617 979 1 ,877 588 1 ,728 1 ,108 2 ,248 452 1 ,747 1 ,273 2 ,568 -680 2 ,818 1 ,497 4 ,995 -781 2,,587 1 ,644 5 ,012 -539 2 ,757 1 ,798 5 ,094 182 262 232 173 -39 121 220 133 19 18 ,863 27 ,897 9 ,034 12 ,014 ,843 10 ,829 -16 .321 - 4 ,110 12 ,211 - 1 ,978 20 9 ,330 21 11 ,308 22 * 15 16 17 18 + 19 Change in the value of land holdings 20 + Reval. of corp.equity hldgs. Change in value 21 -Net purchases 22 Other revaluations 23 24 = Change in net worth Data are in millions of dollars. - - — 15 16 17 18 8 ,839 12 ,728 3 ,889 8 ,907 12 .904 3 ,997 9 ,201 15 ,227 6 ,026 -10 ,119 - 4 ,375 5 ,744 559 593 -288 -329 355 -120 -1 ,420 - 5 2 23 1 ,321 6 ,794 8 ,735 -1 ,516 - 1 ,257 24 4 ,187 6 ,529 5 ,292 May 1987 Private Financial Institutions Private Financial Institutions Sector Stock-Flow Reconciliation Statements 59 Annual Flows Annual Flows 1971 1973 1972 1977 1974 1978 Private Financial Institutions 9,,629 4,,811 5,,002 -4,,134 10,,513 13,,461 24,606 Gross Inv.,Flow of Funds basis 3.137 915 3,-224 -61 2,,769 61 1,,701 722 725 -92 236 -1,,977 3,,466 968 2,320 + Corporate equity Issues - 7 2 - Mutual fund shares issued 2.031 2,,267 2,,571 3,,219 3,,908 4,,548 5,,324 6,391 - Capital consump.allow., NIPA 5 ,829 9,,766 2,,762 -7,,225 8,,178 10,,635 1 4 « Net investment flow, 20,607 Balance Sheet basis 5 - Reval.of life insurance and 7,464 pension fund reserves 88,697 Change in liability 81,233 -Net claims issued 6 7 8 6 7 8 15,314 39,848 24,534 6,,971 51,,673 44 , ,702 -25,,459 lli,306 36,,765 -28,,652 11,,212 39 864 32,,523 99,,220 66:,697 18,,484 68,,982 50,,498 -16 ,298 55 ,083 71,,381 9 10 11 7,720 8,635 915 3,,541 31,480 -61 -12,,352 -12,,291 61 -12,,206 -11,,484 722 7 ,975 7,,883 -92 5,,453 3,,476 -1.,977 -1.,987 -1,,019 968 631 - Reval. of mutual fund shares 9 559 Change in value 10 -72 -Shares issued 11 12 13 14 2.030 2.031 2 ,267 2 ,267 -1 2 ,570 2 ,571 3 ,219 3 ,219 -1 3 ,907 ,908 3 -1 4,,547 4,,548 -1 5 ,323 5 ,324 - - Depreciation valuation adj. 12 6,391 Depreciation charges 13 6,391 -Cap. consump. allow., NIPA 14 15 16 17 18 -19 3.441 2.030 5,490 -1,,152 3 ,139 2 ,267 6 ,558 -46 5 ,101 2 ,570 7 ,717 4,,399 9 ,172 3 ,219 7 ,992 1 ,497 5 ,190 3 ,907 7 ,600 3 ,057 6 ,268 4 ,547 7 ,758 4 ,193 7 ,692 5 ,323 8 ,822 7,472 12,541 6,391 11,460 188 251 508 -325 146 263 733 25,981 45,209 19,228 20 ,620 41 ,839 21 ,219 -44,,534 - 3 2 ,590 11,,944 -51,,890 -46,,565 5,,325 44 ,357 57 ,907 13,,550 28,,066 38 ,802 10,,736 -19,,131 -7,,993 11,,138 23 428 -5 ,399 -294 -384 -2,,958 2,,133 829 24 11,098 9 ,574 2,,955 -31,747 - 5 ,151 17,,644 15,,075 20 21 22 -1 Data are in millions of dollars. • Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 15 16 17 18 + Change in the value of land holdings 19 12,612 • Reval. of corp.equity hldgs. 20 18,187 Change in value 21 5,575 -Net purchases 22 -2,475 + Other revaluations 23 30,854 • Change In net worth 24 May 1987 Private Financial Institutions 60 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows Private Financial Institutions 1 Gross inv..Flow of Funds basis 29. 727 29. 514 11. 520 3.861 19,453 4, 578 14, 479 19. 505 1 194. 289 187.588 2 3 2 • Corporate equity issues 3 - Mutual fund shares issued 3. 104 382 6. 277 4, 484 7.848 5, 956 20, 754 16, 779 34, 788 32, 093 44. 692 37, 956 115, 095 103, 373 4 - Capital consump.allow.* NIPA 7. 623 8. 871 10, 485 12, 025 12, 900 14. 400 16, 025 17,200 4 24. 826 22, 436 2, 927 - 4 , 189 9, 248 -3, 086 10, 176 9, 006 5 18, 466 116. 411 97, 945 57, 652 167, 399 109,,747 -32, 909 73- 025 105,.934 44, 565 159, 917 115, 352 63, 647 199,,606 135, 959 -10,,230 105,.916 116,, 146 121, 333 252- 695 131, 362 94, 096 221, 112 127, 016 6 7 8 9 - Reval. of mutual fund shares 10 Change in value 11 -Shares issued 5, 357 5,,739 382 7,,472 11,,956 4,,484 -5,,684 272 5,,956 9,,213 25,,992 16,,779 8 ,046 40,,139 321,093 -5,,646 32,,310 37 ,956 17,,156 120,,529 103,,373 14,,500 9 202,,088 10 187,,588 11 12 - Depreciation valuation adj. 13 Depreciation charges 14 -Cap. consump. allow.. NIPA 7 ,623 7 ,623 8 ,871 8 ,871 10 ,485 10 ,485 -7 12 ,018 12,,025 32 12 ,932 12 ,900 -16 14 ,384 14 ,400 -34 15 ,991 16 ,025 314 12 17 ,514 13 17 ,200 14 15 16 17 18 • Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases. FOF basis 3 ,724 9 ,733 7 .623 13 .632 8 .183 12 .976 8 ,871 13 .664 7 .879 13 .391 10 .485 15 .997 3 ,587 8 ,772 12 .018 17 .203 869 7 ,067 12 .932 19 .130 4 ,892 12 ,036 14 ,384 21 .528 _1 ,701 12 ,393 15 ,991 30 ,085 6 ,347 15 ,846 17 .514 27 ,013 19 • Change in the value of land holdings 53 763 845 357 488 742 233 474 19 162 ,767 196 ,092 33 ,325 127 .599 20 155 ,437 21 27 .838 22 = Net investment flow, 5 Balance Sheet basis 6 7 8 - Reval.of life insurance and pension fund reserves Change in liability -Net claims issued 20 • Reval. of corp.equity hldgs. 21 Change in value 22 -Net purchases 23 • Other revaluations 24 * Change In net worth Data are in millions of dollars. 15 16 17 18 28 ,057 45 ,397 17 .340 71 ,970 94 ,193 22 .223 - 4 0 ,516 - 2 0 ,645 19 ,871 56 ,918 84 ,558 27 .640 85 ,545 132 ,309 46 .764 -11 .142 - 2 ,905 8 ,237 -664 -349 - 2 ,049 2 .656 313 34 .266 6 »221 2 .171 23 41 .564 39 ,241 36 .687 24 32 .173 37 ,879 7 ,679 5 ,558 24 .738
@FedFRASER