The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
C.9 April 1988 Balance Sheets Flow of Funds Balance Sheets For the U.S. Economy 1948-87 r 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 Federal Reserve Statistical Release C.9 Balance Sheets for the U.S. Economy 1947-87 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 1987. This issue includes new capital stock data from BEA for year-end 1987, as well as 1987 data for financial assets and liabilities from the Flow of Funds Accounts (Z. 1) . As described in the introduction to that publication for the fourth quarter of 1987, a few corrections have been made in the financial data for earlier years. Data for residential land have been corrected for 1982, and the farm land and total farm real estate series have been corrected for all years. Small revisions have been made in the series for the market value of equities of private financial institutions and of nonfinancial corporations. Information on obtaining Flow of Funds publications can be obtained below. For nonfinancial corporations the balance sheet statement includes an alternative measure of tangible assets at historical c o s t — the 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 current 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 fined 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 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. Subscription information. Effective in 1987, the Federal Reserve Board began charging nominal amounts for subscriptions to all public releases to defray postage costs. The annual cost of the Z.7 realease, Flow of Funds Summary Statistics, presently is set at $2.00; the price of the full Z.l release, Flow of Funds Accounts, has been fixed at $7.00. The cost of the C.9 release, Balance Sheets for the U.S. Economy, which appears twice a year, usually in April and October, is $2.00 per year. Subscription inquiries for these releases should be directed to Publications Services, Stop 138, at the Federal Reserve street address given below. Quarterly or annual data for specific sectors of the accounts, in reasonable scope, are available in printed form from the Flow of Funds Section on request. Computer tapes for the entire quarterly data base in the accounts may be purchased from the National Technical Information Service, 5285 Port Royal Road, Springfield, Virginia 22161. Tape prices are determined by NTIS. Requests and inquiries about the data and historical tabulations of the data should be addressed to: Flow of Funds Section Room B-5100, Stop 95 Board of Governors of the Federal Reserve Systems 20th and Constitution Avenue NW Washington, D.C 20551 (202) 452-3482 - ii - April 1588 National fit-1 Worth National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings 1 Year-End Outstandings 1949 1951 1952 715 ,145 745 ,490 852 ,496 947 ,684 1000,,545 1044,,558 1090,,696 564 ,596 210,,672 192,,256 85,,122 76,,546 590,,575 225,,265 205,,761 77,,084 86,,465 675 ,855 249 ,242 226 ,905 96 ,155 105 ,555 755 ,049 275 ,009 251 ,858 108 ,825 119,,579 797,,219 288,,155 267,,074 108,,005 155,,989 855,,550 500,,579 280,,890 109,,088 142,,975 864,,745 517,,852 295,,079 106,,754 147,,080 955,,685 542,,427 519,,968 115,,975 157,,515 Reproducible assets CI) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 150,,749 154,,917 176 ,665 194 ,655 205,,124 210,,808 225,,951 245,,165 Land at market values 8 9 24,,599 14,-858 24,,565 15,.944 22 ,820 16 ,949 22,,872 16,,755 25,,252 17,,574 22,,091 18,,655 21,,795 18,,854 21,,755 19,,552 754,582 785,997 892,265 987,511 1085,084 1151,525 ,155 11 754 ,582 785 ,997 892 ,265 987,,511 1040 ,969 1085 ,084 1151 ,525 Domestic net worth by sector: 1218,155 Total, all sectors 11 12 15 14 15 16 17 954 ,568 458,,502 825,,056 255,,542 98,,621 12,• 571 989 ,296 474 ,156 856 ,826 261 ,947 106 ,575 14 ,568 1087 ,785 516 ,577 955 ,607 289 ,200 150 ,519 17,,511 1182,,919 561,,226 1045,,421 511,,016 152,,812 20,,567 1245 857 . 605 ,512 1105 ,880 507 ,886 166,,498 24,,184 1294 ,949 655 ,704 1150 ,887 510 ,577 158,,268 28,,558 1550 ,146 665 ,594 1241 ,770 516 ,171 228 ,910 55,,295 1454,099 704,025 1550,546 527,568 278,455 40,498 12 15 14 15 16 17 18 19 20 158,,075 102,,655 202,,512 169i,248 99 ,676 212,,785 177,,876 119,,705 255,,955 188,,574 151,,875 259,,998 185 ,785 151,,294 275,,610 189,,905 129,,540 290,,740 195,,819 151,,561 505,,516 202,255 154,745 552,509 21 22 25 24 52,,826 >"25,,814 12,,571 5, 559 55,,451 27,,148 14,,568 8,,065 57,,694 29,,595 17,,511 9,,412 41, 448 51, 558 20, 567 10, 257 45,,858 55,,540 24,,184 11,,866 51,,060 55, 465 28,,558 12,,941 56,,056 40,,489 55,,295 17,,728 60,565 44,211 40,498 24,144 25 26 27 28 29 -205, 226 -4, 695 -198, 785 252 -208,,550 -6, 459 -202, 556 265 -205, 277 -8, 450 -195, 118 291 -199, 097 - 9 , 750 -189, 659 512 -206, 125 -11, 955 555 545 -214, 565 -15, 961 -200, 964 560 -225, 928 -17,865 -206, 457 574 -224,500 -22,108 -202,784 592 SO 5, 240 5, 251 7. 759 5, 489 3, 257 4, 700 5, 105 I i 1 2 5 4 5 6 - 1176,,850 850 Tangible assets Total consolidated domestic net assets (2)(5) Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held ( 4 X 5 ) -Pension fund reserves Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 18 19 20 Private financial insts. (2) Sector basis ^Pension fund reserves -Corp. equities held (4)(5) 21 22 25 24 Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 8,556 Unallocated financial assets (1) At current cost. (2) Net of foreign direct Investment In U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (5) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. 15) Excludes mutual fund shares. Data ere In millions of dollars. 25 26 27 28 29 50 April 1988 National Net Worth National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1962 1 Tangible assets 2 3 4 5 6 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 Land at market values 8 U.S. gold and SDRs 9 Net claims on foreign (2)(3) 10 Total consolidated domestic net assets (2)(3) Domestic net worth by sector: 11 Total, all sectors 12 13 14 15 16 17 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)(5) -Pension fund reserves 18 19 20 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 21 22 23 24 Private financial lnsts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 25 26 27 28 29 Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 30 Unallocated financial assets 1284 • 340 1351,,817 1408,,293 1476,,222 1534 • 146 1585,,735 1646,,442 1710 ,530 1 10121.198 361 >660 355,>916 122,,745 171,,877 1058,,638 375,,455 380,,667 126,,341 176,,175 1091,,827 390,,946 392,,660 126,,259 181,,962 1139,,426 409 ,688 409,,015 131,,714 189,,009 1175 ,508 425,,962 420,,382 135,,508 193,,656 1207,,779 441,,560 432,,260 137,,164 196,,795 1254,,747 459,,106 449,,563 143,,761 202,,317 1302 ,401 471 .540 468 ,552 149,,508 212,,801 2 3 4 5 6 272,,142 293,,179 316,,466 336,,796 358,,638 377,,956 391,,695 408,,129 7 22,,058 22 ,993 22,,857 26,,992 20,,582 29,,444 19,,507 29,,583 17,,804 32,,213 16,,947 36,,146 16,,057 38,,986 15,,596 42,,155 8 9 1768,281 10 1329,391 1329 • 391 1401 ,666 1458 ,319 1525 ,312 1584 ,163 1638 ,828 1701 ,485 1768 ,281 11 1545 ,195 755 ,087 1442 ,937 346 ,130 296 ,041 45 ,679 1620 ,097 784 ,363 1453 ,220 358 ,857 258 ,668 51 ,332 1693 ,541 822 ,753 1617 ,496 374 ,237 360 ,070 60 ,436 1766 ,873 860 ,812 1699 ,288 383 ,057 386 ,173 69 ,246 1828 ,280 900 ,838 1745 ,260 389,,263 378 ,431 76 ,728 1891 ,431 936 ,860 1902 ,904 399 ,467 477 ,928 88 ,649 1963 ,715 972 ,270 1892 ,478 410 ,386 416 ,183 93 ,639 2033 ,455 1012 ,046 2028 ,804 422 ,023 488 ,694 106 ,041 214 ,221 141,,838 367 ,469 220 ,653 148 ,606 392 ,232 227 ,440 157 ,846 407 ,523 232 ,862 161 ,500 427 ,814 237,,998 162,,650 435,,574 243 ,685 167 ,508 448 ,328 250 ,698 171 ,708 462 ,197 256 ,965 18 177 ,482 19 476 ,264 20 ,580 ,847 ,679 ,946 74 ,243 48 ,441 51,,332 25 ,530 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,,385 106 ,842 71,,098 93 ,639 57,,895 110,,698 75,,285 106,,041 70,,628 21 22 23 24 -223,,566 -25,,471 -198,,500 405 -226,,398 -29 ,799 -197,,042 443 -242,,308 -34,,596 -208,,190 478 -249,,018 -38,,255 -211,,271 508 -250,,512 -41,,478 -209,.573 539 -260,,240 -45,,546 -215,,279 585 -268,,412 -48,,838 -220,,214 640 -272,.040 -50, 857 -221,.882 699 25 26 27 28 29 66 46 45 25 - - 7,,762 7,,967 (1) At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are In millions of dollars. - 7,,086 - 7,,457 - 6,.395 - 7,,637 - 6,.182 - 12 13 14 15 16 17 6..866 30 April 1988 National Net North National Net North 3 Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1965 1968 1971 1 1806, 247 1920,, 055 2095,,655 2228,,602 2438,,407 2652,,704 2828,,085 3079,,132 2 5 4 5 6 1576,,075 502,,050 494,,943 155,,367 225,,713 1466, 972 526,,165 535,,711 169,,035 236,,061 1602,,086 567,,478 590,,951 185,,170 258,,487 1717,,644 596,,380 640,,677 197,,377 283 ,210 1905,,027 667,,831 709,,247 211,,732 514,,217 2092,,814 731,,905 784 ,783 232 ,396 343,,730 2250,,089 772,,214 865,,131 240,,310 372,,434 2462,,515 860,,459 950,,521 257,,804 393,,731 7 450,,174 453,,081 495, 547 510 ,958 555 ,380 559 ,890 577,,996 616,,617 8 9 15 ,471 49 ,468 15 ,806 55 ,665 15 ,255 59 ,820 12 ,065 63 ,372 10 ,892 67 ,237 11 ,859 66 ,921 11,,923 68,,430 11,,306 54 ,651 2504,059 2516,556 2751,484 2908,458 5145,089 10 1989,524 Reproducible assets (I) Residential structures Nonres. plant 8 equip. Inventories Consumer durables Land at market values Total consolidated domestic net assets (2)(5) 10 11 1871, 186 1989. 524 2168,,688 2504,,059 2516,,556 2751,,484 2908,,438 Domestic net worth by sector: 5145,,089 Total, all sectors 11 12 15 14 15 16 17 2142, 528 1075,,521 2167,,702 457,,870 555,,690 120,,821 2262, 080 1155,,795 2551,,197 459,,141 600,,495 155,,770 2441,,174 1252 ,849 2404,,240 486,,521 540 ,920 144 ,150 2595,,574 1552,,629 2677,,227 505,,259 676,,519 165,,020 2818 ,948 1472,,212 2998 .680 554 .105 806 ,958 185 .427 5026,,518 1582,,576 5056,,295 560,,185 699,,111 194,,625 5217,,082 1692,,792 5166,,464 577,,729 682,,652 215,,291 5484,,383 1848,,301 5491 ,941 618 ,156 777 ,960 247,,524 12 15 14 15 16 17 18 19 20 266,,675 184,,085 499,,261 276,,019 196,,905 529,,145 296 ,010 204 ,656 569 ,565 505,,578 214,,926 606 ,508 525 .956 225 .986 652 .528 542,,041 254,,565 710,,956 554,,486 240,,046 764 ,796 577,,437 258 ,838 854,,971 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 18 19 20 21 22 25 24 119 ,190 <81,,814 120 ,821 85 ,445 124,,220 87,,106 155 ,770 98 ,656 158 ,516 88 ,427 144 ,150 94 ,261 158,,155 95,,221 165,,020 122 ,108 144 .486 105 .956 185 .427 144 .897 156,,582 102,,440 194,,625 140,,481 164,,962 101,,183 213,,291 149,,512 164,,836 112,,282 247 ,524 194,,970 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 21 22 23 24 25 26 27 -278 ,952 -55 ,899 -225 ,801 748 -282 ,574 -56 ,804 -226 .575 -287 ,195 -59 ,267 -228 ,777 -505 ,485 -64 ,070 -242 ,304 -520 ,006 -69 ,184 -251 ,728 -525 ,782 -79 ,181 -245 ,542 -340,,249 -83,,855 -257 ,352 -575 ,354 -93 ,906 -280 ,481 1,055 7,610 10,018 14,709 15,948 17,594 28,748 849 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)(5) -Pension fund reserves Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 54,040 Unallocated financial assets (1) At current cost-. (2) Net of foreign direct Investment In U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (5) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are In million* of dollar*. 25 26 27 28 29 50 April 1988 National Net North 4 National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1972 1 Tangible assets 2 3 4 5 6 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 Land at market values 8 U.S. gold and SDRs 9 Net claims on foreign (2)(3) 10 Total consolidated domestic net assets (2)(3) Domestic net worth by sector: 11 Total, all sectors 12 13 14 15 16 17 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)(5) -Pension fund reserves 1973 1974 1975 1976 1977 1978 1979 3396 ,161 3907 ,157 4579 ,791 4981 ,522 5557 ,472 6318 ,982 7404 ,977 8497 ,562 1 2707 ,998 964 ,656 1033 ,065 285 ,593 424 ,684 3090 ,676 1109 ,890 1157 ,661 352 ,625 470 ,500 3652 .281 1262 ,175 1422 ,612 423 ,315 544 ,179 5959 ,006 1363 ,500 1570 ,979 428 ,828 595 ,699 4358 ,239 1532 ,333 1709 ,871 463 ,282 652 ,753 4912 ,132 1785 ,154 1895 ,798 505 ,683 725 ,497 5703 ,492 2095 ,090 2199 ,699 588 ,241 820 ,462 6466 ,637 2407 ,398 2459 ,108 674 ,837 925 ,294 2 3 4 5 6 688 ,163 816 ,481 927 ,510 1022 ,516 1199 ,233 1406 ,850 1701 ,485 2030 ,925 7 12 ,445 50 ,198 13 ,818 55 ,555 14 ,026 57 ,835 13 ,934 86 ,978 13 ,993 105 ,654 14 ,348 87 ,888 13 ,229 91 ,125 13 ,896 114 ,206 8 9 3458 ,804 3976 ,530 4651 ,652 5082 ,434 5677 ,119 6421 ,218 7509 ,331 8625 ,664 10 3458 ,804 3976 ,530 4651 ,652 5082 ,434 5677,,119 6421 ,218 7509 ,331 8625 ,664 11 3815,,820 2019 ,597 3863,>184 683 ,653 861,,986 297,,948 4330,,865 2248,,184 4022,,415 808,,187 663,,561 302,,483 5047 ,814 2538 ,035 4220,,329 915,,341 459,,864 307,,089 5551 ,320 2770,,507 4774,,238 1002,,957 598,,611 402,,163 6195,,697 3091,,600 5398,,299 1135,,060 710,,600 461,,039 6980 ,562 3491 ,061 5948,,928 1284,,153 666,,262 507,,452 8089 ,375 3997 ,481 6795,,685 1534,,354 662,,113 601,,737 9239 ,812 4489 ,914 7820 ,052 1818 ,122 812 ,620 699,,396 1078,,466 18 795,,329 19 2283,,079 20 12 13 14 15 16 17 18 19 20 Nonfarm noncorp. business Farm business NonfInanclal corps. (2) 409,,767 294,,501 909,,244 462,,594 371,,605 1025,,538 533,,276 410,,823 1295,,155 573,,943 461,,305 1443,,052 639,,532 532,,826 1589,,048 742,,029 582,,929 1752,,429 894,,043 688,,506 2005,,871 21 22 23 24 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 182,,711 121,,855 297,,948 237,,092 222,,944 124,,810 302, 483 204,,349 270,,525 121,,062 307,,089 157,,626 302,,513 115,,911 402,,163 215,,561 342,,691 133, 556 461, 039 251, 904 412,,114 148,,631 507,,452 243,,969 503,,474 180, 063 601, 737 278, 326 593,,024 212, 224 699, 396 318, 596 21 22 23 24 -390,,770 -93, 772 -298, 197 1, 199 -394, 452 -90, 610 -305, 302 1, 460 -411, 356 -95,845 -317, 439 1, 928 -493,,517 -103, 341 -392, 375 2, 199 -549, 934 -101, 787 -450, 677 2, 530 -589, 674 -85, 973 -506,.586 2,885 -626, 284 -83, 623 —546, 066 3, 405 — 656, 474 -88, 707 -571, 728 3, 961 25 26 27 28 29 51, 356 30, 330 46,240 25 26 27 28 29 Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 30 Unallocated financial assets - 33, 754 - 40, 117 CI) At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Date are in millions of dollars. - 15, 194 - 24, 631 42, 326 30 April 1938 National Net North National Net North 5 Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1982 9579,701 10604,805 10824,605 11395,932 11980,012 12473,089 13244,777 14163,807 Tangible assets 7243,113 2676,405 2807,427 739,312 1019,969 7989,046 2928,454 3175,130 788,988 1096,474 8155,359 2893,937 3348,274 771,459 1141,689 8557,227 3112,749 3450,406 787,190 1206,882 9082,676 3308,357 3630,176 858,166 1285,977 9504,710 3487,097 3766,739 863,416 1387,458 10058,969 3747,865 3922,258 863,378 1525,468 10722,559 4036,969 4084,557 944,653 1656,380 2336,588 2615,759 2669,246 2838,705 2897,336 2968,379 3185,808 3441,248 13,770 133,263 15,246 168,420 16,398 178,884 16,146 132,442 16,737 54,002 18,383 -40,419 19,459 -153,057 21,361 U.S. gold and SDRs -285,202 Net claims on foreign (2)(3) 9726,734 10788,471 11019,887 11544,520 12050,751 12451,053 13111,179 13899,966 9726,734 10788,471 11019,887 11544,520 12050,751 12451,053 13111,179 Domestic net worth by sector: 13899,966 Total, all sectors 12 13 14 15 16 17 10437,101 4959,540 9011,242 2100,221 1111,839 839,642 11538,449 5476,621 9745,336 2308,578 1049,401 910,736 11945,569 5684,767 10263,153 2330,693 1175,022 1072,671 12675,836 6198,843 11155,377 2365,852 1324,546 1266,136 13404,828 6726,410 11762,162 2332,434 1320,628 1382,690 14022,293 7188,112 12834,213 2316,595 1687,023 1642,483 14911,672 7894,965 13955,161 2330,605 1844,769 1884,822 15873,130 8486,293 14776,087 2427,820 1747,619 2114,355 18 19 20 1285,159 876,411 2624,598 1508,444 860,359 2928,735 1574,513 813,097 3023,240 1623,148 798,606 3122,490 1689,871 690,928 3212,146 1754,652 604,240 3242,903 1811,020 558,694 3284,087 1816,968 656,830 3355,813 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 18 19 20 21 22 23 24 >91,393 1247,609 839,642 395,858 764,290 244,615 910,736 391,061 849,952 246,925 1072,671 469,644 932,749 267,563 1266,136 600,950 1085,473 309,127 1382,690 606,344 1232,386 363,003 1642,483 773,100 1362,906 413,879 1884,822 935,795 1557,226 424,347 2114,355 981,476 Private financial lnsts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 21 22 23 24 25 26 27 -730,952 -97,266 -637,984 4,298 -808,231 -97,509 -715,518 4,796 -962,929 -99,792 -869,240 6,103 -1150,661 -97,004 -1060,627 6,970 -1320,584 -78,923 -1249,498 7,837 -1514,792 -59,520 -1461,666 6,394 -1730,739 -46,307 -1690,393 5,961 -1922,558 -55,217 -1873,726 6,385 - 58,253 37,247 19,345 -33,493 -56,448 -69,754 10 28 29 30 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables Land at market values Total consolidated domestic net assets (2)(3) Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)C5) -Pension fund reserves Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority -50,606 Unallocated financial assets CI) At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are in millions of dollars. 10 12 13 14 15 16 17 25 26 27 28 29 30 April 1988 Tangible Asset Holdings Tangible Asset Holdings 6 Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1948 1949 1950 1951 1952 1953 1954 1955 1 Total holdings of tangibles HouseholdsSnonprofit insts. 2 3 Farm business 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 715 , 145 232 ,703 103,,490 151 ,644 223 ,993 3,,315 745 ,490 248 ,373 101 ,521 162 ,527 229 ,668 3,,401 852,,496 294 ,958 122,,856 171 ,819 259,,078 3,,785 947 ,684 335 ,031 136 ,490 182 ,539 289 ,354 4 ,270 1000 ,343 373 ,694 136 ,859 179 ,962 305 ,376 4 ,452 1044,,338 397,,837 134,,811 184,,512 322,,385 4,,793 1090 ,696 422,,088 137 ,732 189 ,980 335,,722 5,,174 7 Plant and equipment (1) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business Nonfarm nonfin. corporations 11 Financial corporations 12 192 ,256 9 ,159 14 ,536 27 ,423 138 ,191 2 ,947 203,,761 9,,604 16 ,462 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 22 ,750 34 1122 190 ,493 3 ,919 280,,890 16,,502 23,,365 35,,264 201,,575 4,,184 293,,079 17,,577 23,,670 36,,426 210,,965 4 ,441 319 ,968 7 19 ,639 8 24 ,810 9 40 ,303 10 230 ,103 11 5 ,113 12 13 Residential structures (1) Households: owner-occupants 14 15 Nonprofit institutions 16 Farm business Nonfarm noncorp. business 17 18 Nonfarm nonfin. corporations 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,,206 342 ,427 231 ,005 5 ,369 19 ,639 81,,055 5,,359 13 14 15 16 17 18 85 ,122 19,,304 11,,999 53,,819 77 ,084 16,,664 11,,033 49,,387 96,,135 22,,454 13,,462 60,,219 108 ,823 24 ,908 14,,215 69,,700 108 ,003 23 ,307 13 ,882 70 ,814 109,,088 22,,000 14,,378 72,,710 106,,734 21,,200 14,,276 71,,258 113,,975 19,,900 15,,155 78,,920 19 20 21 22 19 Inventories (2) 20 Farm business 21 • Nonfarm noncorp. business 22 Corporations 23 Consumer durables (Households) 24 Land at market value 25 HouseholdsSnonprofit insts. 26 Farm business Nonfarm noncorp. business 27 28 Nonfarm nonfinan. corps. 29 Financial corporations 1176 ,850 460 ,448 142 ,431 200 ,657 367 ,317 5 ,997 1 2 3 4 5 6 76,,346 86,,465 103,,553 119,,379 133 ,989 142,,973 147,,080 157,,315 23 150,,749 23,,830 53,,384 45,,403 27,,764 368 154,,917 24,, 741 51,,554 48,,537 29,,704 381 176,,663 29,• 323 63,,458 50,,812 32,,636 434 194,,635 33,,124 71,,288 53,,706 36,,017 500 203 ,124 36 ,588 71 ,681 55 ,322 39 ,000 533 210,,808 39,,128 70,,295 57,,789 42,,987 609 225,,951 42, 606 73,,520 60,,799 48,,293 733 243,,165 47,,120 78,,082 64,,144 52,,935 884 24 25 26 27 28 29 480,,296 157,,346 76,,032 126,,683 117,,567 2,,668 499 ,729 162 ,774 75 ,075 137 ,455 121,,801 2,,624 558,,253 192,,227 88,,949 142,,128 132,,104 2,,845 612,,707 216,,400 98,,687 150,,218 144,,268 3,,134 643,,828 238,,260 100,,009 149,,376 152,,984 3,,199 669,,365 253,,208 98,,871 152 ,559 161,,351 3,,376 707,,691 273 ,181 102 ,540 157,,556 170,,748 3,,666 764,,146 301,,084 108,,171 165,,439 185,,168 4,,284 30 31 32 33 34 35 Memo: 30 Total real estate 31 HouseholdsSnonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Financial institutions CI) At current cost. (2) At year-end prices. Data are in millions of dollars. April 1988 Tangible Asset Holdings Tangible Asset Holdings 7 Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1957 1 1960 3 4 5 6 1284*340 504,056 150,569 212,549 410,238 6,928 1351,817 526,747 158,662 219,296 439,521 7,591 1408,293 551,987 169,340 225,664 453,142 8,160 1476,222 581,117 175,951 233,370 476,880 8,904 1534,146 611,811 178,627 240,944 493,209 9,555 1585,735 633,963 185,099 247,608 508,781 10,284 1646,442 659,496 191,469 257,071 527,068 11,338 7 8 9 10 11 12 355,916 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 8,065 449,563 33,032 28,753 54,996 323,884 8,898 7 468,>552 Plant and equipment (1) Nonprofit institutions 8 35,>774 29,>886 Farm business 9 Nonfarm noncorp. business 10 57,>644 Nonfarm nonfin. corporations 11 335,.633 9,>615 Financial corporations 12 13 14 15 16 17 18 361,660 248,279 5,517 19,759 82,643 5,462 375,455 261,335 5,626 19,610 83,342 5,542 390,946 275,396 5,801 19,437 84,562 5,750 409,688 291,490 6,035 19,382 86,705 6,076 425,962 305,663 6,241 19,235 88,475 6,348 441,560 318,004 6,564 19,186 91,048 6,758 459,106 330,988 7,129 19,091 94,537 7,361 471,>540 Residential structures (1) 339,>884 Households: owner-occupants Nonprofit institutions 7,>513 18,>795 Farm business Nonfarm noncorp. business 97,>334 Nonfarm nonfin. corporations 8,>014 13 14 15 16 17 18 19 20 21 22 122,745 19,900 15,890 86,955 126,341 21,200 16,370 88,771 126,259 131,714 86,773 16,881 92,733 135,508 23,300 16,618 95,590 137,164 23,800 15,599 97,765 143,761 25,200 15,780 102,781 149,>508 Inventories (2) 25,>700 Farm business 15,>129 Nonfarm noncorp. business 108,>679 Corporations 19 20 21 22 23 171,877 176,175 181,962 189,009 193,656 196,795 202,317 212,801 Consumer durables (Households) 23 24 25 26 27 28 29 272,142 56,293 85,008 69,437 6^317 1,087 293,179 59,934 91,481 72,591 67,876 1,297 316,466 63,799 100,436 76,096 74,620 1,515 336,796 67,989 106,982 79,686 80,407 1,732 358,638 78,103 108,502 84,581 85,504 1,948 377,956 82,214 114,153 88,244 91,126 2,219 391,695 86,030 118,425 91,758 93,042 2,440 408,129 Land at market value 88,913 HouseholdsSnonprofit insts. 126,314 Farm business 95,265 Nonfarm noncorp. business 95,015 Nonfarm nonfinan. corps. 2,622 Financial corporations 30 31 32 33 34 35 831 ,532 329,,852 116 ,116 174 ,622 205 ,974 4,,968 877,,502 347,>998 122,,708 179,,663 221,,652 5,,481 922,,327 367,,230 131,,529 185,,217 232,,381 5,,970 969,,305 389,,081 138,,360 192,,072 243,,248 6,,544 1012,,614 414,>964 139,,902 199,,566 251,,107 7,,075 1055 ,793 433 ,804 145 ,962 207 ,341 260 ,919 7 ,767 1096,,934 453,,627 150,,720 216,,263 267,,707 8,,617 1135,,820 Total real estate 468 ,326 Households&nonprofit insts. 158 ,917 Farm business Nonfarm noncorp. business 224,,556 Nonfarm nonfin. corporations 274 ,676 Financial institutions 9 ,345 2 22,600 16,886 22,100 1710,>530 Total holdings of tangibles Households&nonprofit insts. 684,>885 Farm business 200,>695 Nonfarm noncorp. business 265,>372 Nonfarm nonfinan. corps. 547,>341 >237 Financial corporations 12, 1 2 3 4 5 6 24 25 26 27 28 29 Memo: (1) At current cost. (2) At year-end prices. Data are in millions of dollars. 30 31 32 33 34 35 April 1988 Tangible Asset Holdings Tangible Asset Holdings ^ Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1964 1965 1966 1967 1968 1969 1970 1971 3079,,132 1278,,091 302,,727 458,,444 1008,,425 31,,445 1 Total holdings of tangibles HouseholdsSnonprofit insts. 2 Farm business 5 Nonfarm noncorp. business 4 Nonfarm nonfinan. corps. 5 Financial corporations 6 1806,,247 727,,082 209,,693 279,,761 575,,984 13,,727 1920,,053 766,,263 226,,082 294,,810 617,,322 15,,576 2095,,633 844,,294 237,,206 319,,046 677,,610 17,,477 2228,,602 899,,889 250,,236 332,,654 726,,638 19,,185 2438,,407 1002,,422 262,,510 361,,384 789 ,967 22 ,124 2652,,704 1096,,434 273,,208 392,,319 865,,812 24,,931 2828 ,085 1167 ,540 280,,544 417,,227 934 ,953 27,,821 1 2 3 4 5 6 7 Plant and equipment (1) Nonprofit institutions 8 Farm business 9 Nonfarm noncorp. business 10 Nonfarm nonfin. corporations 11 Financial corporations 12 494,,943 38,,729 31,,107 61,,148 353,,116 10,,843 535,,711 42,,782 33,,313 66,,192 380,,964 12,,460 590,,951 47,,686 36,,105 72,,705 420,,267 14,,188 640,,677 51,,320 38 ,600 77,,454 457,,368 15,,935 709,,247 57 ,599 41 ,838 85 ,050 506 ,007 18 ,753 784,,783 64,,763 45,,609 94,,332 558 .739 21,,340 865,,131 71,,722 49,,228 104,,299 615 ,785 24,,097 950,,521 7 80,,703 8 53,,641 9 115,,702 10 672,,937 11 27,,538 12 1$ Residential structures (1) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp. business 17 Nonfarm nonfin. corporations 18 502,,050 361,,593 8,,303 19,,129 104 ,041 8 ,984 526,,165 378,,819 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,,516 860,,459 614,,337 14,,936 25,,515 185,,471 20,,200 13 14 15 16 17 18 19 Inventories (2) Farm business 20 Nonfarm noncorp. business 21 Corporations 22 155 ,367 24 ,500 15 ,089 115 ,778 169,,035 28,,000 15,,838 125,,197 185,,170 27,,400 16,,329 141,,441 197,,377 27,,900 17,,102 152,,375 211,,732 29,,100 17,,624 165 ,008 232,,396 31,,800 18,,346 182,,250 240,,310 31,,100 19,,134 190,,076 257,,804 35,,400 21,,671 200,,733 19 20 21 22 23 Consumer durables (Households) 223,• 713 236,,061 258,,487 283,,210 314,,217 343,,730 372,,434 393,,731 23 24 Land at market value HouseholdsSnonprofit insts. 25 Farm business 26 Nonfarm noncorp. business 27 Nonfarm nonfinan. corps. 28 Financial corporations 29 430 ,174 94 ,744 134 ,957 99 ,483 98 ,106 2 ,884 453 ,081 99 ,567 145 ,590 103,,451 101 ,357 3 ,116 493 ,547 119,,663 153,,690 111,,894 105,,011 3,,289 510,,958 125,,098 163,,219 114,,146 105,,245 3 ,250 535 ,380 138 ,232 169 ,502 119 ,004 105 ,271 3 ,371 559,,890 150,,331 172 ,412 124,,631 108,,925 3,,591 577,,996 157,,790 176,,218 128,,688 111,,576 3,,724 616,,617 174, 384 188,,171 135,,600 114,,555 3,,907 24 25 26 27 28 29 1201,,985 499,,360 168,,478 237,,636 286,,135 10,,376 1271,,117 525,,906 180,,056 250,,257 303,,361 11,,537 1379,,981 581,,116 190,,150 271,,116 324,,913 12,,686 1448,,405 611 ,614 201 ,099 281,,664 340,,778 13 ,250 1582,,388 682,,810 210,,779 307,,138 366,,666 14,,995 1716,,093 746,,934 217,,131 334,,438 400,,698 16,,892 1820,,388 788,,951 223,,781 354 ,843 434,,192 18,,621 2004,,005 877,,857 240,,213 390,,632 474,,407 20,,896 30 31 32 33 34 35 Memo: 30 Total real estate Households&nonprofit insts. 31 Farm business 32 Nonfarm noncorp. business 33 Nonfarm nonfin. corporations 34 Financial institutions 35 CI) At current cost. (2) At year-end prices. Data are in millions of dollars. April 1988 Tangible Asset Holdings Tangible Asset Holdings Distribution of Tangible Assets by Sector 9 Year-End Outstandings 1972 Year-End Outstandings 1973 1974 1975 1976 1977 1978 1979 1 2 3 4 5 6 3396, 161 1411, 761 343, 169 517, 207 1089, 252 34, 772 3907, 157 1610, 115 428, 138 597, 266 1231, 514 40, 124 4579, 791 1846, 295 474, 955 687, 699 1521, 038 49, 804 4981, 522 1999, 707 533, 762 741, 703 1651, 681 54, 669 5557, 472 2253, 408 614, 730 822, 646 1805, 605 61, 083 6318, 982 2614, 292 677, 313 953, 995 2004, 344 69, 038 7404, 977 3077, 067 798, 038 1136, 511 2311, 049 82, 312 8497, 562 Total holdings of tangibles Households&nonprofit insts. 3505, 641 Farm business 927, 471 Nonfarm noncorp. business 1353, 885 Nonfarm nonfinan. corps. 2618, 467 Financial corporations 92,,098 7 8 9 10 11 12 1033, 065 88, 782 59, 034 126, 814 727, 758 30,,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,,623 1224, 508 56,,408 1895, 798 141,,601 114, 559 219,,394 1356,, 144 64,,100 2199, 699 167,,725 133,,912 260,,593 1560,,828 76,,641 7 2459,,108 Plant and equipment (1) 8 Nonprofit institutions 175,,421 9 Farm business 149, 838 10 Nonfarm noncorp. business 291,,896 Nonfarm nonfin. corporations 11 1755,,579 Financial corporations 12 86,,374 2407,,398 Residential structures (1) Households: owner-occupants 1734,,013 Nonprofit institutions 41,,359 Farm business 54 ,431 Nonfarm noncorp. business 540 ,884 Nonfarm nonfin. corporations 36 ,711 1 2 3 4 5 6 13 14 15 16 17 18 13 14 15 16 17 18 964,,656 687, 415 16,,802 27,,165 212,,013 21,• 261 1109,,890 791,,680 19,,450 29,,703 246,,015 23 ,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 30,,820 43 ,801 384 ,099 30 ,309 2095,,090 1527,,137 35,,898 49,,624 448 ,918 33 ,513 19 20 21 22 285,,593 44 ,300 24 ,014 217 ,279 352 ,625 65 ,500 27 ,309 259 ,816 423 ,315 62 ,400 29 ,600 331 ,315 428 ,828 64 ,300 27 ,281 337 ,247 463 ,282 60 ,200 27 ,910 375 ,172 505 ,683 59 ,300 29 ,454 416 ,929 588 ,241 73 ,700 32 ,724 481 ,817 674 ,837 Inventories (2) Farm business 80 ,700 Nonfarm noncorp. business 34 ,882 Corporations 559 ,255 23 424 ,684 470 ,500 544 ,179 595 ,699 652 ,753 725 ,497 820 ,462 925 ,294 Consumer durables (Households) 23 24 25 26 27 28 29 688 ,163 194 ,078 212 ,670 154 ,366 $22 ,954 4 ,095 816 ,481 230 ,012 266 ,555 180 ,207 135 ,361 4 ,346 927 ,510 261 ,774 296 ,190 206 ,440 158 ,252 4 ,854 1022 ,516 280 ,640 342 ,892 230 ,078 164 ,377 4 ,529 1199 ,233 338 ,077 414 ,137 264 ,035 178 ,309 4 ,675 1406 ,850 420 ,249 459 ,653 321 ,048 200 ,962 4 ,938 1701 ,485 525 ,845 540 ,802 394 ,276 234 ,891 5 .671 2030 ,925 Land at market value Households&nonprofit insts. 629 ,554 Farm business 642 ,502 Nonfarm noncorp. business 486 ,223 Nonfarm nonfinan. corps. ,922 266 Financial corporations 5 ,724 3651,,181 1590,,247 499,,632 716,,372 813,,543 31,,387 4202 ,797 1877 ,585 556 ,374 837 ,209 897 ,644 33 ,985 4987,,756 2244 ,477 656,,128 1002 ,718 1044,,393 40 ,040 5737,,184 Total real estate Households&nonprofit insts. 2566,,976 Farm business 767,,965 Nonfarm noncorp. business 1201,,787 Nonfarm nonfin. corporations 1158,,954 Financial institutions 41,,502 19 20 21 22 24 25 26 27 28 29 Memo: 30 31 32 33 34 35 2230,,503 980 ,222 268,,648 444 ,125 514 ,799 22 ,709 2576,,546 1152,,182 328,,553 515,,357 575 ,415 25 ,039 2984 ,170 1293 ,192 368 ,707 592 ,280 700 ,869 29 ,122 3238,,322 1394,,204 420 ,590 641 ,967 751 ,871 29 ,690 CI) At current cost. 12) At year-end prices. Data are in millions of dollars. 30 31 32 33 34 35 April 1988 Tangible Asset Holdings 10 Tangible Asset Holdings Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1984 1981 1985 14163,807 6157,632 779,446 2659,537 4349,881 217,311 1 Total holdings of tangibles 2 HouseholdsSnonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 9579,701 3874,877 1022,794 1587,847 2988,346 105,837 10604,805 4257,978 1026,435 1837,819 3362,500 120,073 10824,605 4268,701 984,568 1934,297 3507,837 129,202 11395,932 4614,510 972,160 2061,311 3611,194 136,757 11980,012 4894,553 861,154 2219,481 3849,783 155,041 12473,089 5182,073 757,920 2363,216 3997,006 172,874 13244,777 5681,158 694,167 2526,409 4144,768 198,275 7 Plant and equipment CI) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations 12 Financial corporations 2807,427 193,848 167,397 336,461 2010*371 99,350 3175,130 212,434 181,202 391,737 2277,016 112,741 3348,274 217,772 181,865 420,209 2406,915 121,513 3450,406 233,395 184,328 435,059 2469,044 128,580 3630,176 246,302 183,017 455,239 2599,950 145,668 3766,739 254,498 176,387 471,253 2702,219 162,382 3922,258 265,792 170,564 487,872 2811,674 186,356 4084,557 7 279,306 8 167,696 9 505,983 10 2927,440 11 204,132 12 13 Residential structures (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 2676,405 1902,860 46,487 59,241 628,290 39,527 2928,454 2062,051 50,956 63,118 710,350 41,979 2893,937 2017,467 50,559 61,872 722,790 41,249 3112,749 2187,547 53,263 63,752 765,267 42,920 3308,357 2316,297 56,649 65,618 824,875 44,918 3487,097 2439,712 59,469 66,096 875,271 46,549 3747,865 2646,461 62,702 67,408 922,780 48,514 4036,969 2875,215 66,393 68,272 976,299 50,790 13 14 15 16 17 18 739,312 84,500 33,996 620,816 788,988 81,554 33,496 673,938 771,459 79,248 33,120 659,091 787,190 79,365 33,617 674,208 858,166 863,416 71,119 38,757 753,540 863,378 66,695 40,435 756,248 944,653 79,414 45,119 820,120 19 20 21 22 1019,969 1096,474 1141,689 1206,882 1285,977 1387,458 1525,468 1656,380 23 2897,336 989,328 531,659 902,960 464,016 9,373 2968,379 1040,936 444,318 977,935 494,698 10,492 3185,808 1180,735 389,500 1075,322 528,332 11,919 3441,248 1280,338 464,064 1132,136 551,531 13,179 24 25 26 27 28 29 8107,,449 3585,,324 693,,732 2019,,341 1747,,608 61,,444 8427,,780 3769,,354 606,,773 2160,,064 1822,,808 68,,781 8979,,275 4128,,153 554 ,032 2319,,779 1899,,174 78,,137 9607, 175 4471,,187 630,,444 2445,,908 1973,,241 86,,395 30 31 32 33 34 35 19 Inventories (2) 20 Farm business 21 Nonfarm noncorp. business 22 Corporations 23 Consumer durables (Households) 24 Land at market value 25 HouseholdsSnonprofit insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations 2336,588 711,713 711,656 589,100 317,632 6,487 2615,759 836,063 700,561 702,236 369,567 7,332. 2669,246 841,214 661,583 758,178 400,582 7,689 2838,705 933,423 644,715 827,368 425,022 8,177 6483 ,619 2839 ,494 850 ,847 1420 ,872 1326 ,605 45 ,801 7206,,731 3143,,898 851 ,654 1655 ,019 1505 ,697 50 ,463 7301,,023 3107,,437 812,,210 1744,,349 1585,,403 51,,624 7749,,769 3386,,228 801,,836 1867 ,172 1639 ,633 54 ,900 80,860 36,407 740,899 Memo: 30 Total real estate 31 HouseholdsSnonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Financial institutions (1) At current cost. (2) At year-end prices. Data are in millions of dollars. April 1988 Households Households 11 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1948 1949 1950 1951 Households* P e r s o n a l Trusts, and Nonprofit Organizations 1 232.703 248, 373 2 9 4 , 958 335, 031 373. 694 397, 8 3 7 422, 088 4 6 0 , 448 Tangible assets 2 $ 4 5 6 7 208,873 123,368 117,907 5,461 9,159 76,346 223, 632 127, 563 122, 297 5 , 266 9, 604 8 6 , 465 265, 635 151, 005 145, 322 5 , 683 11, 077 103, 5 5 3 301, 907 169, 753 163,8 1 9 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, 482 214, 8 2 5 209, 632 5, 193 17, 577 147, 080 413, 328 236, 374 231, 005 5 , 369 19, 639 157, 315 8 9 10 23,830 21,223 2,607 24, 741 22, 013 2 , 728 29, 323 26, 158 3. 165 33, 124 2 9 , 487 3, 637 36, 588 32, 8 0 5 3. 783 39, 128 34, 944 4 , 184 42, 606 37, 734 4 ,8 7 2 47, 120 41, 581 5, 539 11 645,474 672. 204 735. 645 796, 4 0 5 8 2 8 . 719 8 4 4 , 777 943, 670 259, 543 63, 472 8 7 , 467 271, 511 65, 218 96, 688 111 39 -34 117, 486 67, 668 50, 229 16,.827 612 12 15 14 15 16 216,312 55,608 61,879 219, 322 53, 738 64, 392 2 2 3 ,8 1 6 5 6 , 145 66, 781 233, 330 60, 299 71, 5 0 7 2 4 6 , 427 62, 349 79. 2 8 2 22 106 110 122 151 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 1034. 931 Total financial assets 288, 958 66, 115 105, 391 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities 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 21 101,.402 66,.055 49,.081 16,,663 311 104, 645 66, 577 49, 173 17,.146 258 108, 493 67, 154 49, 371 17,.688 95 109,.566 65,.413 49,,966 15,,346 101 9 ,529 6 ,973 18 ,425 420 11,.543 6,,970 19.,089 466 13,,373 7,,031 20,,081 854 15,,895 6 ,162 21,,214 882 19,.347 6,,872 22,,476 1,,123 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 133 ,663 3 ,344 130 ,319 156 ,293 3 ,481 152 ,812 170,,429 3 ,931 166 ,498 162 ,414 4,,146 158 ,268 235 ,019 6 ,109 228 ,910 286,,293 7 ,838 278 ,455 Corporate equities Mutual fund shares Other corporate equities 26 27 28 52 ,104 20 ,327 55 ,049 2 4 ,254 5 7 ,777 27 ,820 60 ,665 32 ,595 63 ,647 37 ,479 66 ,349 42 ,654 69 ,254 5 0 ,546 Life insurance reserves Pension fund reserves 29 30 261 .947 289 ,200 311 ,016 307 ,886 310 ,377 316 ,171 327 ,568 Equity in noncorp. business 31 899 11 ,413 Security credit Miscellaneous assets 32 33 101, 086 67,.814 49,.300 18, 355 159 17 18 19 20 21 98,803 66,576 47,837 18,521 218 22 23 24 25 7,952 7,967 16*150 158 26 27 28 100,136 1,515 98.621 109 ,445 3 ,070 106 ,375 29 30 49,353 17,490 31 253,542 8 , 643 7,• 561 16 ,863 205 100, 780 67, 006 49,.552 17,.300 154 9,• 191 6.>764 17,,531 288 32 33 654 7.987 702 8 .357 971 8 .692 893 9 .276 714 10 ,003 708 10 .609 1 .020 10 .946 34 878,177 920 ,577 1030 .603 1131 ,436 1202 ,413 1242 ,614 1365 .758 35 55,141 63 ,751 76 ,996 8 6 ,015 98 ,533 111 ,727 123 .988 1495 ,379 Total assets 144 ,833 Total liabilities 36 37 38 39 40 41 51,908 30,862 1,130 60 .144 35 ,284 1 ,515 7 2 ,519 41 ,998 1 .978 8 1 ,502 48 ,622 2 ,490 93 .669 5 4 ,834 2 ,953 106 ,229 62 ,458 3 ,442 117 ,218 71 ,144 4 ,034 137 ,154 8 3 ,305 4 ,624 9,514 8,125 12 .232 8 .589 15 .503 10 .100 16 .220 11 .009 2 0 .470 12 .038 2 4 ,254 12 .437 24 ,891 13 .252 30 ,269 15 ,022 42 43 95 2,182 143 2 ,381 369 2 .571 396 2 ,765 472 2 .902 508 3 ,130 522 3 .375 329 3 ,605 45 1,547 851 1 ,819 884 2 ,519 951 2 ,393 1 ,034 2 ,569 1 ,133 5 ,032 1 ,212 4 ,151 1 ,298 4 ,816 1 ,381 46 835 904 1 ,007 1 .086 1 .162 1 .254 1 ,341 1 ,482 47 823.036 8 5 6 ,826 953 ,607 1045 ,421 1103 ,880 1130 ,887 1241 ,770 48 159.130 144 .310 171 .480 193 .306 2 1 5 .055 229 .079 2 4 7 .366 49 22,182 24 .450 24 ,491 25 ,152 25 ,497 2 7 ,264 50 18.216 18 .464 2 0 .747 23 .094 2 3 .205 2 4 .129 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 1350 ,546 Net worth 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Memo: 51 38.100 37 .424 Data are In Millions of dollars. 4 0 .156 41 .867 42 ,178 4 3 .110 48 28 ,760 2 7 2 .586 Total owner-occ. real estate Home mortgages as percent of owner-occ. real estate 30 ,560 2 5 .815 2 8 ,498 Total nonprofit real estate 50 4 3 .428 Inventories of nondurable goods. 4 5 .148 not included in totals above 51 49 April 1988 Households 12 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1956 1957 1958 1959 1960 1961 Households. Personal Trusts, and Nonprofit Organizations 1 Tangible assets 504, 056 526, 747 551, 987 581, 117 611,811 633, 963 659, 496 684, 885 1 2 3 4 5 6 7 447, 763 253, 796 248, 279 5, 517 22, 090 171,877 466,813 266, 961 261, 335 5, 626 23, 677 176, 175 488, 188 281, 197 275, 396 5,801 25, 029 181, 962 513, 128 297, 525 291, 490 6, 035 26, 594 189, 009 533, 708 311, 904 305, 663 6, 241 28, 148 193, 656 551, 749 324, 568 318, 004 6, 564 30, 386 196, 795 573, 466 338, 117 330, 988 7, 129 33, 032 202, 317 595. 972 347, 397 339. 884 7. 513 35, 774 212, 801 2 3 4 5 6 7 56, 293 49, 656 6, 637 59, 934 52, 267 7, 667 63, 799 55, 079 8, 720 67, 989 58, 298 9, 691 78, 103 67, 246 10,857 82, 214 69, 961 12, 253 86, 030 72, 817 13,.213 88, 913 8 74 ,774 9 14,.139 10 1100, 204 1100, 511 1252, 632 1328, 410 1361, 570 1515, 233 1501,.110 1641,.565 11 307, 058 67, 751 114, 899 323, 197 66, 600 126, 902 340, 360 68, 792 140, 956 365, 186 71. 641 152, 419 386, 414 73,.331 164,.093 407, 659 71, 991 182,.178 436,.069 71,,387 207,,898 470,,142 12 75,,956 13 233,,379 14 -158 •239 -440 -508 -143 48 430 129, 934 70, 961 48, 226 20, 954 1,.781 131,.052 67,.660 47, 703 18,.737 1,,220 141, 634 72,.227 45,,907 23,,372 2,,948 149,.133 72,.020 45,,642 24,,079 2,,299 153,.442 72,.071 46,.445 23,.561 2,,065 156,,354 73,,844 46,,968 24,,850 2,,026 159,,658 73,,910 48,,149 23,,963 1,,798 17 18 19 20 21 31,,986 9,,541 40,,250 3,,971 22 23 24 25 8 9 10 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 11 Total financial assets 12 13 14 15 16 17 18 19 20 21 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 124,.566 69, 987 50,> 135 18,-756 1,.096 1,,149 16 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 21,,499 7,,846 24,,059 1,,175 23,.190 8,.494 25,.997 1,,292 24,,003 9,,673 28,,562 1,,154 28,,187 10,,238 30,,659 323 30,,802 10,,899 33,,426 1,,986 32,,008 10,,512 36,,662 2,,189 31,,496 9,,514 38 ,766 2 ,734 26 27 28 Corporate equities Mutual fund shares Other corporate equities 305,,087 9 ,046 296,,041 267,,382 8,,714 258,,668 373,,311 13,,241 560,,070 401,,991 15,,818 386,,173 395 ,457 17,,026 378,,431 500,,803 22,,875 477 ,928 437 ,092 20 ,909 416,,183 513,,512 26 24,,818 27 488,,694 28 29 30 Life insurance reserves Pension fund reserves 72 ,724 56 ,590 75,,462 62,,678 78 ,535 72 ,716 81,,956 82 ,410 85 ,184 90 ,818 88 ,631 103 ,655 92 ,398 109,,638 96,,635 29 123,,201 30 31 Equity in noncorp. business 346 ,130 358 ,857 374 ,237 383 ,057 389 ,263 399 ,467 410 ,386 422,,023 31 32 33 Security credit Miscellaneous assets 882 11 ,733 894 12 ,041 1 ,156 12 ,317 989 12 ,821 1 ,137 13 ,297 1 ,192 13 ,826 1 ,226 14 ,301 1,,222 32 14,,830 33 1604 ,260 1627 ,258 1804 ,619 1909 ,527 1973 ,381 2149 ,196 2160 ,606 2326 ,450 34 35 Total liabilities 161 ,323 174 ,038 187 ,123 210 ,239 228 ,121 246 ,292 268 ,128 297 ,646 35 36 37 38 39 40 41 153 ,351 94 ,538 5 ,299 166 ,172 103 ,419 6 ,041 177 ,823 112 ,880 6 ,824 200 ,533 125 ,685 7 ,602 218 ,218 137 ,348 8 ,432 234 ,790 149 ,541 9 ,301 256 ,464 163 ,301 10 ,288 33 ,171 16 ,033 35 ,443 16 ,681 35 ,339 17 ,290 41 ,123 19 ,533 45 ,051 19 ,956 46 ,027 21 ,495 50 ,994 22 ,804 283 ,639 36 179 ,864 37 11 ,257 38 39 57 ,829 40 24 ,836 41 418 3 ,892 233 4 ,355 669 4 ,821 1 ,157 5 ,433 1 ,179 6 ,252 1 ,449 6 ,977 1 ,333 7 ,744 1 ,446 42 8 ,407 43 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 2 ,387 8 ,567 44 2 ,587 45 1 ,669 1 ,843 1 ,969 2 ,187 2 ,379 2 ,512 2 ,667 2 ,853 46 1442 ,937 1453 ,220 1617 ,496 1699 ,288 1745 ,260 1902 ,904 1892 ,478 2028 ,804 47 297 ,935 313 ,602 330 ,475 349 ,788 372 ,909 387 ,965 403 ,805 414 ,658 48 31 ,731 32 ,977 34 ,156 35 ,931 36 ,831 38 ,544 40 ,440 43 ,376 49 50 Total nonprofit real estate 31 ,917 34 ,396 36 ,755 39 ,293 42 ,055 45 ,839 49 ,822 53 ,668 50 Inventories of nondurable goods, 51 not Included in totals above 47 ,431 48 ,467 49 ,051 51 ,268 53 ,054 54 ,275 56 ,692 58 ,990 51 34 Total assets 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth 48 Total owner-occ. real estate Home mortgages as percent of 49 owner-occ. real estate Data are in millions of dollars. April 1988 Households 13 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings 1964 Year-End Outstandings 1965 1966 1967 1968 1969 1970 1971 Households, Personal Trusts, and Nonprofit Organizations 1 727, 082 766, 263 844, 294 899, 889 1002, 422 1096, 434 1167, 540 1278, 091 Tangible assets 2 3 4 5 6 7 632, 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 1009, 750 565, 594 551, 874 13, 720 71, 722 372. 434 1103, 707 629, 273 614, 337 14, 936 80, 703 393, 731 8 9 10 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 19,822 174, 384 153, 584 20, 800 11 1767, 998 1923, 566 1942,846 2185, 798 2441, 441 2417, 215 2499,866 12 13 14 15 16 508, 331 81, 284 258, 806 548, 636 88. 744 285, 954 585, 129 91. 130 303. 949 635, 610 101, 013 338, 446 692, 808 111,,930 365,,097 738, 226 109, 368 379,,562 792, 762 118, 185 409,,934 1, 779 2,,436 3, 449 4, 085 17 18 19 20 21 166, 462 76, 175 49,,060 24,,456 2,,659 171,,502 78,,249 49,,695 24,,858 3,,696 186, 601 84,,963 50,,249 26,,576 8,,138 192, 066 85, 765 51,,219 26, 773 7,,773 207,,370 91,,310 51,,866 31,,202 8,• 242 22 23 24 25 34,,627 9,>037 41.,?47 4,,876 36.,412 8 ,979 42,, 186 5,• 676 40,,443 10,,301 44,,191 6.• 703 38,,118 14,,558 45,,989 7,,636 37 • 577 19 • 887 48 • 448 10,• 148 26 27 28 564 • 137 28 ,447 535 • 690 634 • 903 34 • 410 600 • 493 574 • 770 33 • 850 540,• 920 719,,291 42,• 972 676,• 319 29 .30 101 • 051 139 ,230 105 • 876 155 ,494 110 • 570 165 ,127 31 437 ,870 459 .141 32 33 1 .669 15 .710 2 ,533 16 ,983 34 2495 .080 2689 ,829 2787 ,140 35 327 .378 358 ,632 36 37 38 39 40 41 313 .151 197 .315 12 .258 343 ,200 214 ,287 13 ,396 65 .572 26 ,875 42 43 8,,411 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 2762, 768 Total financial assets 865, 159 130, 378 477, 817 3,,141 16,,382 16,,195 246,,155 107,,869 51,,770 42,,590 13,,509 248,,261 102,,778 52,,089 31,,101 19,,588 240,,769 90,,176 54,,416 20,,145 15,,615 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities 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 46,• 871 24,• 944 50,• 969 15,• 502 46,,019 35,• 614 52,• 097 11,• 753 46,• 116 45,,979 50,• 559 7,• 939 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 856 ,467 49 ,529 806 .938 744 • 688 45 • 577 699 • 111 727 • 152 44 • 500 682 • 652 830 >966 53 • 006 777 • 960 Corporate equities Mutual fund shares Other corporate equities 26 27 28 115,• 535 187,• 312 120 .324 209 .055 125 • 362 219 • 770 130 • 703 240 • 819 137 • 055 277 • 895 Life insurance reserves Pension fund reserves 29 30 486 ,321 503 • 259 534 ,103 560 ,185 577 • 729 618 ,156 Equity in noncorp. business 31 2 ,730 18 ,199 4 • 943 19 • 848 7 ,039 21 ,645 5 .221 23 .763 4 ,354 26 ,347 Security credit Miscellaneous assets 32 33 3085 ,687 3443 ,863 3513 ,649 3667 .406 382 .900 408 .460 445 ,183 477 .354 500 .942 548 .918 Total liabilities 35 367 ,059 228 ,453 14 ,562 388 ,141 240 ,744 15 ,626 421 ,121 257 ,666 16 ,701 455 .731 276 ,225 17 .884 480 .055 290 .047 19 .042 524 .395 314 .761 20 .251 73 ,881 29 ,173 79 ,339 30 ,250 83 ,148 32 ,114 91 ,681 35 ,094 101 .161 36 ,499 105 ,528 37 ,595 118 ,255 39 ,642 36 37 38 39 40 41 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 9 ,213 22 ,273 44 45 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 13 ,109 5 ,978 46 3 .039 3 ,303 3 ,659 3 ,947 4 ,302 4 ,688 5 ,118 5 ,436 47 2167 ,702 2331 ,197 2404 ,240 2677 ,227 2998 ,680 3036 ,295 3166 ,464 48 441 ,143 462 ,159 510 ,514 536 ,975 600 ,415 655 ,554 689 ,842 44 .728 46 ,366 44 ,749 44 ,833 42 ,914 42 ,136 50 58 ,217 63 ,747 70 ,602 74 ,639 82 ,395 51 62 ,654 67 ,463 73 ,918 79 ,139 86 ,692 4 ,886 28 .651 4040 .859 Total assets Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 3491 ,941 Net worth 34 42 43 44 45 46 47 Memos 49 Data are in millions of dollars. 48 42 ,045 767 ,921 Total owner-occ. real estate Home mortgages as percent of 40 ,988 owner-occ. real estate 91 ,380 99 ,109 109 ,936 Total nonprofit real estate 50 92 ,994 96 ,649 Inventories of nondurable goods, 100 ,890 not included in totals above 51 49 April 1988 Households 14 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1972 1973 1974 1975 1976 1977 Households. Personal Trusts, and Nonprofit Organizations 1 Tangible assets 1411, 761 1610, 115 1846, 295 1999, 707 2253, 408 2614, 292 3077, 067 3505, 641 1 2 3 4 5 6 7 1217, 683 704, 217 687, 415 16,802 88, 782 424, 684 1380, 103 811, 130 791, 680 19, 450 98, 473 470, 500 1584, 521 924, 847 902, 948 21, 899 115, 495 544, 179 1719, 067 1002, 482 978, 640 23, 842 120, 886 595, 699 1915, 331 1132, 835 1106, 144 26, 691 129, 743 652, 753 2194, 043 1326, 945 1296, 125 30, 820 141, 601 725,,497 2551, 222 1563, 035 1527, 137 35, 898 167, 725 820,.462 2876, 087 1775, 372 1734, 013 41, 359 175, 421 925, 294 2 3 4 5 6 7 194, 078 171. 854 22,,224 230, 012 205, 837 24, 175 261, 774 234, 766 27,,008 280, 640 254, 446 26,,194 338, 077 309, 720 28, 357 420, 249 388,,837 31,,412 525,.845 488,.684 37,,161 629.•554 8 589, 564 9 39,,990 10 3067, 622 3102, 191 3115,,232 3565,,899 4032,,723 4363,,328 4916,,566 5690,,756 11 1965,,107 256,,058 1058,,176 40,,032 90,,895 12 13 14 15 16 8 9 10 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 11 Total financial assets 12 13 14 15 16 17 18 19 20 21 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 20,,701 44,,515 1163, 796 161,,750 623,,996 2,,379 63,,275 243,,869 88,,910 57,,667 19,,799 11,,444 271,,905 102,,868 60,,354 30,,337 12,,177 312,,396 115,,922 63,,338 36,,794 15,,790 954,,017 142,,379 547,,068 1058, 498 155,,430 586,,648 1270,,020 167,,783 720,,728 3,,696 44,,236 1410,,577 183, 592 837, 052 3, 686 35, 100 1569,,172 202,,491 932,,586 3,,443 46,,242 1754,,185 230,,651 998,,293 9,,436 79,,736 333,,577 130,,659 67,,363 51,,630 11,,666 351,,147 133,,722 72,,018 50,,659 11,,045 384,,410 146,,117 76,,762 59,,397 9,,958 436,,069 173,,537 80,,691 75,,930 16,,916 519,,946 223,,341 79,,876 106,,991 36,,474 17 18 19 20 21 70,,070 76,,910 63,,703 6,,742 68 ,605 77 ,861 71 ,563 20 ,264 71,,195 73,,655 82,,939 34,,743 81,,691 72,,000 99,,442 43,,472 22 23 24 25 68 ,061 67 , 140 58 ,382 9 ,335 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 48,,373 49,,512 52,,559 4,,515 53,,658 51,,196 51,,845 12,,338 61,,860 58,,790 55,,314 20,,510 26 27 28 Corporate equities Mutual fund shares Other corporate equities 918 ,369 56 ,383 861 ,986 707,,256 43,,695 663,,561 491,,676 31,,812 459,,864 637 ,360 38 ,749 598 ,611 752 ,036 41,,436 710,,600 706 ,616 40 ,354 666 ,262 703,,192 41,,079 662,,113 857,,417 26 44,,797 27 812,,620 28 29 30 Life insurance reserves Pension fund reserves 143,,930 331,,312 151,,278 337,,982 158 ,399 345,,327 166 ,483 444 ,059 175,,268 507,,488 184 ,802 560 ,329 195,,992 661,,515 206,,692 29 767,,072 30 31 Equity in noncorp. business 683 ,653 808,,187 915 ,341 1002 ,957 1135,,060 1284 ,153 1534,,354 1818,,122 31 5 ,022 31 ,319 4,,866 34,,124 3,,891 36 ,802 4 ,468 40 ,552 6 ,290 46 ,004 5 ,313 52 ,943 7 ,784 59,,544 9 ,613 32 66 ,733 33 4479 ,383 4712 ,306 4961 ,527 5565 ,606 6286,,131 6977 ,620 7993 ,633 9196 ,397 34 616 ,199 689 ,891 741 ,198 791 ,368 887 ,832 1028 ,692 1197 ,948 1376 ,345 35 133 ,173 44 ,570 663 ,069 396 ,811 22 ,640 400 155 ,108 48 ,357 714 ,467 431 ,433 23 ,736 1 ,300 164 ,594 48 ,769 762 ,155 469 ,666 24 ,775 2 ,700 168 ,703 50 ,908 851 ,730 529 ,438 25 ,623 4 ,700 188 ,698 55 ,161 989 ,230 619 ,185 26 ,730 8 ,100 223 ,669 58 ,339 1154 ,700 727 ,675 28 ,056 10 ,700 264 ,712 64 ,041 1329 ,045 846 ,880 29 ,559 13 ,600 300 ,313 71 ,102 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 39 ,524 21 ,673 42 45 ,918 43 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 13 ,201 20 ,732 44 14 ,876 45 5 ,976 6 ,376 7 ,086 7 ,744 8 ,375 9 ,284 10 ,349 11 ,692 46 3863 ,184 4022 ,415 4220 ,329 4774 ,238 5398 ,299 5948 ,928 6795 ,685 7820 ,052 47 48 Total owner-occ. real estate Home mortgages as percent of 49 owner-occ. real estate 859 ,269 997 ,517 1137 ,714 1233 ,086 1415 ,864 1684 .962 2015 ,821 2323 ,577 48 41 ,084 39 ,779 37 ,921 38 ,088 37 ,393 36 ,747 36 ,098 36 ,447 49 50 Total nonprofit real estate 120 ,953 134 ,665 155 ,478 161 ,118 174 ,383 192 ,623 228 ,656 243 ,399 50 108 ,952 121 ,757 134 ,613 140 ,317 152 ,061 164 ,441 182 ,465 202 ,314 51 32 33 Security credit Miscellaneous assets 34 Total assets 35 Total liabilities 36 37 38 39 40 41 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth 51 Inventories of nondurable goods. not included in totals above Data are In millions of dollars. 586 ,050 353 ,027 21 ,547 36 37 38 39 40 41 April 1988 Households Households Sector Balance Sheet with Tangible Assets at Current Cost 2.5 Year-End Outstandings 1980 Year-End Outstandings 1981 1982 1983 1984 1985 1986 1987 H o u s e h o l d s , Personal Trusts, and Nonprofit Organizations 1 3874,8 7 7 4 2 5 7 , 978 4 2 6 8 , 701 4614, 510 4894, 553 5182, 073 5681, 158 6157, 632 Tangible assets 1 2 3 4 5 6 7 3163, 164 1949, 347 1902, 8 6 0 46, 487 193, 8 4 8 1019, 969 3421, 915 2113, 007 2062, 051 50, 956 212, 434 1096, 474 3427, 4 8 7 2068, 026 2017, 4 6 7 50, 559 217, 772 1141, 689 3681, 087 2240, 8 1 0 2187, 547 53, 263 233, 395 1206, 8 8 2 3905,-225 2372,,946 2316,,297 56, 649 246,,302 1285,,977 4141,,137 2499, 181 2439, 712 59,,469 254,,498 1387,,458 4500, 423 2709, 163 2646, 461 62,,702 265,,792 1525,,468 4877, 294 2941, 608 2875, 215 66, 393 279, 306 1656, 380 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 2 3 4 5 6 7 8 9 10 711, 713 666,,001 45, 712 836, 063 783, 579 52, 484 841,.214 786, 8 1 2 54, 4 0 2 933, 423 875, 019 58, 404 989,,328 926,,519 62,,809 1040,,936 975,,885 65,,051 1180,,735 1111,,514 69,,221 1280, 338 1207,.590 72, 748 Land Owner-occupied Nonprofit institutions 10107,,022 11013,,439 11 6643, 714 7122, 8 5 7 7718,,715 8463,,263 9017,,341 12 13 14 15 16 2159,,896 271,, 649 1140,,680 64,,878 131,• 247 2398,,458 296,,528 1188,,185 155,,620 148,,334 2641,,205 314,,481 1322,,485 189,,439 124,,581 2936,,613 351,,416 1532,,562 158,,350 111,,238 3352,,941 367 ,880 1685 ,871 2 0 2 ,399 179 ,471 17 18 19 20 21 551 246 72 132 41 ,442 ,879 ,528 ,990 ,361 6091,791 288 ,447 68 ,190 174 ,094 46 ,163 690 341 68 224 47 22 23 24 25 88 58 116 <40 ,358 ,768 ,503 ,934 99 54 133 33 ,828 ,030 ,949 ,537 123 ,816 54,571 144 ,632 26 ,100 26 27 28 1163 ,898 5 2 ,059 1111 ,839 1102 ,040 5 2 ,639 1049 ,401 29 30 216 ,427 916 ,065 31 32 33 ,219 ,100 ,346 ,786 ,968 11598, 297 Total financial assets 8 9 10 11 3690 406 1829 214 165 ,426 ,963 ,833 ,510 ,275 3945,,259 506,,747 1946,,216 257,,109 148 ,809 4208,,595 519,,028 2011,,234 278,,228 157,,938 1073 551 79 393 78 ,845 ,680 ,777 ,895 ,008 1086 551 93 392 66 ,378 ,860 ,332 ,089 ,439 1242,,167 583,,380 101,,103 412,,632 69,,645 231 95 147 59 ,929 ,629 ,090 ,870 278,,993 145,,829 147,,741 86,,224 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 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 16 783 ,047 400 ,511 71,,485 291 ,579 37 ,447 917 494 74 368 52 162 43 145 30 ,871 ,214 ,973 ,478 192 ,206 4 8 ,393 151 ,376 30 ,374 240 ,124 60 ,903 150 ,890 70 ,248 1241 ,718 66 ,696 1175 ,022 1422 ,513 97 ,967 1324 ,546 1438 ,313 117 ,685 1320 ,628 1890 ,058 2 0 3 ,035 1687 ,023 2210 ,242 365 ,473 1844 ,769 2143,,774 396,,155 1747,,619 Corporate equities Mutual fund shares Other corporate equities 26 27 28 225 ,627 996 ,943 2 3 2 ,799 1170 ,604 240 ,792 1378 ,136 245 ,994 1512 ,640 256 ,711 1791 ,261 274 ,226 2054 ,377 290,,266 2303,,862 Life Insurance reserves Pension fund reserves 29 30 2100 ,221 2308 ,578 2 3 3 0 ,693 2365 ,852 2332 ,434 2316 ,595 2330 ,605 2 4 2 7 ,820 14 ,833 72 ,374 12 ,705 78 ,506 16 ,400 8 5 ,296 18 ,782 100 ,575 18 ,143 116 ,876 30 ,598 131 ,373 39 ,276 159 ,454 39 ,500 184 ,480 34 10518 ,591 11380 ,835 11987 ,416 13077 ,773 13911 ,894 15289 ,095 16694 ,597 35 1507, 349 1635,,499 1724,,263 1922,,396 2149 ,732 2454,,882 2739,,436 2979 ,842 Total liabilities 35 36 37 38 39 40 41 1450,,033 943,,261 31,,486 16,,700 300,,402 73,,981 1575,,436 1023,,047 33,,781 21,,100 315,,944 80,,267 1657,,247 1064,,556 36,,428 29,,600 332,,087 83,,456 1844,,614 1174,,583 38,,917 41,,000 379,,694 92,,408 2074 ,264 1302 ,996 41 ,368 51 ,171 453 ,223 109,,321 2360,,397 1451,,192 43,,770 81,,334 530,,968 126,,169 2635,,149 1646,,972 46,,124 79 ,142 586,,259 136,,706 2869 1848 48 78 621 131 36 37 38 39 40 41 42 43 29,,469 54,,734 35 ,507 65 ,790 37,,882 73,,238 41,,503 76 ,509 36 ,742 79 ,443 43,,686 83,,278 51,,520 8 8 ,426 4 9 ,421 90 ,982 44 45 27,,219 17,,158 25,,518 19 ,823 29,,281 22,,220 37 ,699 23 ,984 34 ,595 25 ,765 51,,302 27,,974 59 ,879 30,,523 621,554 33 ,434 46 12,,939 14,,722 15,,515 16 ,099 15 ,108 15,,209 13,,885 14 ,835 47 9011 ,242 9745 ,336 10263,,153 11155,,377 11762 ,162 12834,,213 13955,,161 48 2568 ,861 2845 ,630 2804,,279 3062,,566 3242 ,816 3415,,597 3757,,975 49 36 ,719 35 ,951 37,,961 38 ,352 40 ,180 42,,487 43,,826 50 270 ,633 2 9 8 ,268 303,,158 323,,662 342 ,508 353,,757 51 218 ,426 235 ,405 246,,446 263,,379 2 8 4 ,348 303,,822 ,320 ,971 ,515 ,085 ,371 Credit market Instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues Equity in noncorp. business 31 Security credit Miscellaneous assets 32 33 17755 ,929 Total assets ,019 ,418 ,430 ,714 ,442 ,612 17 18 19 20 21 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life Insurance premiums 14776 ,087 Net worth 34 42 43 <4 45 46 47 Memo: Data are in millions of dollars. 4082 ,805 Total owner—occ. real estate Home mortgages as percent of 45 ,273 owner-occ. real estate 48 370,,178 388 ,382 Total nonprofit real estate 50 324,,697 Inventories of nondurable goods* 344 ,396 not included in totals above 51 49 April 1988 Farm 8 Noncorporate Business 16 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1954 Farm Business 1 Tangible assets 103 • 490 101 ,521 122 ,856 136 ,490 136 ,859 134 ,811 137 ,732 142 ,431 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 50 , 106 16 ,266 14 ,536 19 ,304 49 ,967 16 ,841 16 ,462 16 ,664 59 ,398 17 ,937 19 ,007 22 ,454 65 ,202 18 ,854 21 ,440 24 ,908 65 ,178 19 ,121 22 ,750 23 ,307 64 ,516 19 ,151 23 ,365 22 ,000 64 ,212 19 ,342 23 ,670 21 ,200 64 ,349 19 ,639 24 ,810 19 ,900 2 3 4 5 6 Land 53 ,384 51 ,554 63 ,458 71 ,288 71 ,681 70 ,295 73 ,520 78 ,082 6 8 ,459 8 ,035 8 ,068 8 ,327 8 ,314 8 ,291 8 ,264 8 ,372 7 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 1 ,364 1 ,227 137 6 ,900 8 1 ,472 9 1 ,324 10 148 11 111,,949 109,,556 130,,924 144 ,817 145 ,173 143 ,102 145 ,996 150 ,803 12 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 13 Total liabilities 9,,294 9,,880 11,,221 12,,944 13 ,879 13 ,562 14,,435 16,,058 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 8 ,082 5,,288 1,,946 848 243 605 8,,474 5,,579 2,,049 846 228 618 9,,532 6,,071 2,,524 937 244 693 10,,819 6,,651 3,,120 1,,048 199 849 11 ,609 7 ,236 3,,293 1 ,080 213 867 11 ,509 7 ,737 2 ,712 1,,060 445 615 12,,281 8 ,246 2,,862 1,,173 508 665 13,,723 9 ,022 3 ,434 1,,267 574 693 20 Trade debt 1,,212 1,,406 1,,689 2,,125 2 ,270 2,,053 2,,154 2,,335 20 102,,655 7,,186 95,,469 99,,676 6,.977 92,,699 119,,703 8,,379 111,,324 131,,873 9,,231 122,,642 131,,294 9 ,191 122,,103 129,,540 9,,068 120,,472 131,,561 9,,209 122,,352 134,,745 21 9,,432 22 125,,313 23 76,,032 75,-075 88, 949 98, 687 100,,009 98,,871 102, 540 108, 171 24 21 Net worth Corporate farms 23 Noncorporate farms 14 15 16 17 18 19 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables Equity in spons. agencies 13 Total assets 14 Total liabilities 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 Trade debt, net Trade debt -Trade credit 25 Net worth 151 ,644 162 ,527 171 ,819 182 ,539 179 ,962 184 ,512 189 ,980 200 ,657 1 106,,241 66 ,819 27,,423 11,,999 113 ,990 74 ,474 28 ,483 11 ,033 121 ,007 75 ,575 31 ,970 13 ,462 128 ,833 79 ,421 35 ,197 14 ,215 124 ,640 76 ,636 34 ,122 13 ,882 126 ,723 77 ,081 35 ,264 14 ,378 129 ,181 78 ,479 36 ,426 14 ,276 136 ,513 81 ,055 40 ,303 15 ,155 2 3 4 5 45,,403 48 ,537 50 ,812 53 ,706 55 ,322 57 ,789 60 ,799 64 • 144 6 16,,082 16 ,978 18 ,249 19 ,208 19 ,877 20 ,311 21 ,276 22 • 187 7 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 ,236 2 ,133 2 ,113 20 11 • 200 8 • 704 2 • 283 2,• 262 21 167,,726 179 ,505 190 ,068 201 ,747 199 ,839 204 ,823 211,,256 8 9 10 11 12 222,,844 13 9,,653 10,,257 12,,192 13 ,373 14,,056 14,,918 17,• 437 20 • 589 14 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 18 • 436 10,• 628 2,• 016 7,• 142 1,• 470 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 4,,945 2,,388 20 5,,420 21 -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 8,,877 8,,174 2,,153 22 10,,060 23 7,,907 24 158,,073 169,,248 177,,876 188,,374 185,,783 189,,905 193,,819 202,,255 25 126, 683 137,,455 142,,128 150,,218 149,,376 152,,559 157,,556 165,,439 26 15 16 17 18 19 Memos 26 Total noncorp. bus.real estate Data are in millions of dollars. Farm 8 Noncorporate Business 17 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings 1958 1956 Farm Business 150,569 1 158, 662 169, 340 175, 951 200, 695 Tangible assets 178, 627 185,099 191,469 73, 044 19, 091 28, 753 25, 200 74, 381 18, 795 29,886 25. 700 2 3 4 5 65,561 19,759 25,902 19,900 67, 181 19, 610 26, 371 21,200 68, 904 19,437 26,867 22, 600 68, 969 19, 382 27, 487 22, 100 70, 125 19,235 27, 590 23, 300 70, 946 19, 186 27, 960 23,800 6 85,008 91,481 100, 436 106, 982 108, 502 114, 153 118, 425 126, 314 7 8,251 8, 218 8, 584 7, 982 7, 646 7, 731 7,865 7,825 8 9 10 11 6,700 1,551 1,390 161 6, 600 1, 618 1,446 172 6, 900 1. 684 1,,502 182 6, 200 1, 782 1, 584 198 5,,800 1,,846 1,,635 211 5,800 1.,931 1.,704 227 5, 900 1,,965 1,,724 241 5,,700 2,,125 1,,869 256 12 158,820 166,,880 177 ,924 183,,933 186 ,273 192,,830 199,,334 208 ,520 13 16,982 18 ,274 20 ,078 22 ,433 23 ,623 25 ,322 27 ,626 31 ,038 19 ,965 12 ,838 5 ,062 2 ,065 564 1 ,501 21 ,558 13 ,917 5 ,305 2 ,336 686 1 ,650 23 ,856 15 ,193 6 ,087 2 ,576 736 1 ,840 26 ,406 16 ,822 6 ,688 2 ,896 797 2 ,099 14 15 16 17 18 19 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 20 2,401 2 ,636 3 ,076 3 ,499 3 ,658 3 ,764 3 ,770 4 ,632 21 22 23 141,838 9,929 131,909 148 ,606 10 ,402 138 ,204 157 ,846 11 ,049 146 ,797 161 ,500 11 ,305 150 ,195 162 ,650 11 ,385 151 ,265 167 ,508 11 ,726 155 ,782 171 ,708 12 ,020 159 ,688 177 ,482 12 ,424 165 ,058 116,116 122,708 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 6 7 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 8 9 10 11 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 14 15 16 17 18 19 Trade debt Corporate farms Noncorporate farms 21 22 23 Memo: 158,917 Total farm real estate 139,902 Nonfarm Noncorporate Business 1 212,549 219,296 225,664 233, 370 240, 944 247, 608 257, 071 265, 372 2 3 4 5 143, 112 82, 643 44,579 15,890 146, 705 83, 342 46, 993 16, 370 149,568 84,562 48,120 16,886 153, 684 86, 705 50, 098 16,881 156, 363 88, 475 51, 270 16, 618 159, 364 91, 048 52, 717 15,599 165, 313 94, 537 54, 996 15, 780 170, 107 97, 334 57, 644 15, 129 6 69, 437 72, 591 76,096 79, 686 84, 581 88, 244 91, 758 95, 265 26, 332 25, 799 26, 204 26, 972 27. 914 12,,515 10,,488 3,,201 3,,144 57 12, 515 11,,128 3,,329 3,,260 69 12,515 11,854 3, 545 3, 463 82 273 ,812 284,,043 293,,286 7 23, 171 24, 488 25,973 8 9 10 11 12 H i ,549 9,,209 2,,413 2,,392 21 12,,356 9,,546 2,,586 2,,560 26 13,641 9,623 2,709 2,677 32 12,,707 10,,729 2,,896 2,,856 40 12,,415 10,,349 3,,035 2,,987 48 13 235,,720 243 ,784 251,637 259,,702 266,,743 14 21 ,499 23 ,131 24,197 26 ,840 28 ,745 30 ,127 33 ,345 36,,321 15 16 17 18 19 19 ,562 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 2,031 24 ,324 13 ,534 1 ,938 9 ,335 2 ,261 26 ,071 14 ,443 1 ,703 10 ,245 2 ,495 28 ,412 16 ,413 1 ,821 11 ,785 2 ,807 31 ,758 18 ,772 2 ,001 13 ,585 3 ,186 36,,050 21,,424 2 ,002 15 ,825 3 ,597 20 21 2 ,993 5 ,704 3 ,078 6 ,298 3,239 6,433 3 ,632 7 ,158 3 ,969 7 ,659 4 ,345 7 ,654 4 ,716 8 ,270 5 ,308 9 ,318 22 23 24 1 ,937 10 ,988 9 ,051 2 ,609 10 ,987 8 ,378 2,249 11,626 9,377 2 ,516 10 ,750 8 ,234 2 ,674 11 ,228 8 ,554 1 ,715 10 ,619 8 ,904 1 ,587 10 ,049 8 ,462 271 8 ,232 7 ,961 25 214 ,221 220 ,653 227,440 232 ,862 237 ,998 243 ,685 250 ,698 256 ,965 26 174 ,622 179 ,663 185,217 192 ,072 199 ,566 207 ,341 216 ,263 224 ,556 Data are in millions of dollars. Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 7 Demand deposits & currency Consumer credit Miscellaneous assets Insurance receivables Equity in spons. agencies 8 9 10 11 12 Credit market instruments Mortgages Home mortgages Multi-family Commercial 15 16 17 18 19 Bank loans n.e.c. Other loans Trade debt, net Trade debt -Trade credit 20 21 22 23 24 April 1988 Farm & Noncorporate Business 18 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1967 Farm Business 1 Tangible assets 2 5 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 15 Total liabilities 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 20 Trade debt 21 Net worth 22 Corporate farms 23 Noncorporate farms P! 1966 209,693 226,082 237, 206 250, 236 262,510 273, 208 280, 544 727 1 74,736 19,129 31,107 24,500 80,492 19,179 33,313 28,000 83, 516 20, 011 36, 105 27, 400 87, 017 20, 517 38, 600 27, 900 93,008 22,070 41,838 29,100 100, 796 23, 387 45, 609 31,800 104, 326 23, 998 49, 228 31, 100 114,556 25, 515 53, 641 35,400 2 3 4 5 134,957 145,590 153, 690 163,219 169,502 172, 412 176, 218 188, 171 6 8,497 8, 704 9, 067 9.646 10, 182 10, 786 11, 477 7 5,900 2,317 2,038 279 •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 4, 271 3, 649 622 6, 638 8 4,839 9 4, 147 10 692 11 217,910 234,579 245, 910 259, 303 272,156 283, 390 291, 330 314, 204 12 33,827 37,674 41, 274 44, 377 46,170 48, 827 51, 284 55, 366 13 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 51, 375 32, 192 12,,500 6,,683 1,,014 5,,669 4,587 4,,210 3,842 3,,991 20 8,217 14 15 16 17 18 19 29,009 18,942 6,959 3,108 861 2,247 32,311 21,187 7,667 3,457 941 2,516 35, 504 23, 052 8, 600 3,852 929 2, 923 38,815 25, 017 9, 300 4, 498 1, 087 3, 411 4,818 5,363 5, 770 5,,562 184,083 12,886 171,197 196,905 13,783 183,122 204,,636 14,,325 190,,311 214,,926 15,, 045 199,,881 225,986 15,819 210,167 234,,563 16,,419 218,,144 240,,046 16,,803 223,,243 258,,838 21 18,,119 22 240,,719 23 168,478 180,056 190,,150 201 ,099 210,779 217 ,131 223,,781 240 ,213 24 392 ,319 417 ,227 458 ,444 1 2 3 4 5 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables Equity in spons. agencies 13 Total assets 14 Total liabilities 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 Trade debt, net Trade debt -Trade credit 25 Net worth 279,761 294,810 319 ,046 332 ,654 361,384 180,278 104,041 61,148 15,089 191,359 109,329 66,192 15,838 207 ,152 118 ,118 72 ,705 16 ,329 218 ,508 123 ,952 77 ,454 17 ,102 242,380 139,706 85,050 17,624 267 ,688 155 ,010 94 ,332 18 ,346 288 ,539 165 ,106 104 ,299 19 ,134 322 ,844 185 ,471 115 ,702 21 ,671 99,483 103,451 111 ,894 114 ,146 119,004 124 ,631 128 ,688 135 ,600 6 28,743 29,792 30 ,496 31 ,292 32,534 33 ,752 35 ,395 35 ,610 7 12,515 12,429 3,799 3,704 95 12,515 13,194 4,083 3,975 108 12 ,515 13 ,539 4 ,442 4 ,325 117 12 ,515 13 ,933 4 ,844 4 ,716 128 12,515 14,693 5,326 5,187 139 12 ,515 15 ,239 5 ,998 5 ,846 152 12 ,515 16 ,198 6 ,682 6 ,515 167 12 ,515 8 15 ,619 9 7 ,476 10 7 ,296 11 180 12 308,504 324,602 349 ,542 363 ,946 393,918 426 ,071 452 ,622 494 ,054 13 41,831 48,583 53 ,532 60 ,568 69,982 8 4 ,030 98 ,136 116 ,617 14 120 ,363 88 ,251 3 ,050 46 ,740 38 ,461 15 16 17 18 19 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 32 ,910 22 ,720 99 ,957 70 ,042 2 ,153 38 ,683 29 ,206 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 18 ,219 12 ,604 20 19 ,508 21 -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 4 ,802 6 ,623 - 3 ,746 22 4 ,377 23 8 ,123 24 266,673 276,019 296 ,010 303 ,378 323,936 342 ,041 354 ,486 377 ,437 25 237,636 250,257 271 ,116 281 ,664 307,138 334 ,438 354 ,843 390 ,632 26 Memo: 26 Total noncorp. bus.real estate Data are In millions of dollars. April 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 19 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Farm Business 1 343, 169 428, 138 474, 955 533, 762 614,,730 677,,313 798 ,038 927,,471 Tangible assets 1 2 3 4 5 130, 499 27, 165 59, 034 44, 300 161, 583 29, 703 66,.380 65,-500 178, 765 33, 620 82,,745 62,,400 190,,870 35, 656 90,,914 64,,300 200,,593 38,,804 101,,589 60,,200 217,,660 43,,801 114,,559 59,,300 257 49 133 73 • 236 ,624 ,912 ,700 284,,969 54,,431 149,,838 80,,700 Reproducible assets Residential structures Nonres. plant S equipment Inventories 2 3 4 5 6 212,,670 266,,555 296,,190 342,,892 414,,137 459,,653 540 ,802 642,,502 Land 6 7 12,,413 13,,256 13,,850 14,,847 16,,273 8 9 10 11 6,,900 5,,513 4 ,731 782 7,,100 6,,156 5,,214 942 6,,940 6,,910 5,,762 1,,148 7,,010 7,,837 6,,453 1,,384 12 355 ,582 441 ,394 488 ,805 18 , 087 20 ,154 22 ,226 Total financial assets 6,,947 9,,326 7,,718 1,,608 7 ,035 11 ,052 9 ,197 1 ,855 7 ,137 13 ,017 10 ,891 2 ,126 7,,284 14,,942 12,,406 2,,536 5 4 8 ,609 631,,003 695 ,400 8 1 8 ,192 949 ,697 Total assets 12 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 7 8 9 10 11 13 61 *081 69 ,789 77 ,982 8 7 ,304 98 ,177 112 ,471 129 ,686 154 ,368 Total liabilities 13 14 15 16 17 18 19 56 ,547 35 ,095 14 ,306 7 ,146 1 ,050 6 ,096 65 ,132 39 ,528 17 ,165 8 ,439 1 ,241 7 ,198 73 ,102 44 ,705 18 ,236 10 ,161 1 ,313 8 ,848 8 1 ,965 49 ,682 2 0 ,199 12 ,084 2 ,089 9 ,995 92 ,036 55 ,268 23 ,230 13 ,538 2 ,226 11 ,312 105 ,448 63 ,458 25 ,729 16 ,261 3 ,502 12 ,759 121 ,047 71 ,610 2 8 ,211 21 ,226 7 ,009 14 ,217 144 ,567 8 5 ,599 31,,033 2 7 ,935 10 ,391 17 ,544 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 14 15 16 17 18 19 20 4 ,534 4 ,657 4 ,880 5 ,339 6 ,141 7 ,023 8 ,639 9 ,801 Trade debt 20 21 22 23 294,501 20,615 273,886 571,605 26,012 345,593 410,823 28,758 382,065 461,305 32,291 429,014 532,826 37,298 495,528 582,929 40,805 542,124 688,506 48,195 640,311 795,329 Net worth 55,673 Corporate farms 739,656 Noncorporate farms 21 22 23 Memo: 499,632 328,553 767,965 Total farm real estate Nonfarm Noncorporate Business 1 517,,207 597,,266 687 ,699 741,,703 8 2 2 ,646 953,,995 1136 ,511 2 3 4 5 362 ,841 212,,013 126,,814 24 ,014 417,,059 246,,015 143,,735 27,,309 481 278 172 29 ,259 ,794 ,865 ,600 511,,625 299,,525 184,,819 27,,281 558 ,611 333 ,078 197 ,623 2 7 ,910 632,,947 384,,099 219,,394 29,,454 742 ,235 448 ,918 260 ,593 32 ,724 8 6 7 ,662 540,,884 291,,896 34,,882 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 486 ,223 Land 1353,,885 Tangible assets 1 2 3 4 5 6 154,,366 180,,207 206,,440 230,,078 264 ,035 321,,048 394 ,276 7 37 ,575 40,,219 41,,998 44,,383 4 8 .664 50,,788 55 ,804 61 ,036 Total financial assets 8 9 10 11 12 12 ,515 16 ,590 8 ,470 8 ,278 192 12,,515 18,,249 9,,455 9,,243 212 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 13 ,518 360 12,,515 21,,837 16 ,436 16,,032 404 12 ,515 23 ,841 19 ,448 18 ,917 531 12,,515 26,,073 22 ,448 21 ,805 643 13 554,,782 637,,485 729 ,697 786,,086 871 ,310 1004 ,783 1192 ,315 14 145,,015 174,,891 196 ,421 212,,143 231 .778 262,,754 298 .272 336 ,455 Total liabilities 14 15 16 17 18 19 148 ,705 114 ,527 3 ,626 56 ,660 5 4 ,241 178,,205 139,,880 3,,226 64 ,461 72,,193 198 ,461 159 ,305 3 ,008 69 ,961 8 6 ,336 213,,109 173,,302 3,,635 70,,069 99,,598 230 ,498 189 ,320 5 .018 73 .937 110 .365 260,,289 214,,979 6 ,778 80,,350 127,,851 292 ,719 244 ,174 7 ,573 8 8 ,792 147 ,809 330 ,804 274 ,636 7 ,035 96,,366 171,,235 15 16 17 18 19 20 21 13 ,667 20 ,511 14,,780 23 ,545 13 ,854 25 ,302 12,,479 27,,328 9 ,594 31 ,584 10,,474 34 ,836 9 ,723 38 ,822 10 ,280 45 ,888 22 23 24 - 3 .690 5 ,080 8 ,770 - 3 ,314 4 ,755 8 ,069 - 2 ,040 6 ,140 8 ,180 -966 7,,914 8,,880 1 .280 11 ,490 10 .210 2,,465 15,,847 13,,382 5 ,553 17 .794 12 ,241 5 ,651 21,,739 16,• 088 25 409 ,767 462,,594 5 3 3 ,276 573,,943 639 ,532 742,,029 8 9 4 ,043 26 444 ,125 515,,357 5 9 2 ,280 641.967 716 .372 837,,209 1002 .718 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables Equity in spons. agencies 1414 ,921 Total assets Credit market instruments Mortgages Home mortgages Multi-family Commercial Bank loans n.e.c. Other loans Trade debt, net Trade debt - T r a d e credit 1078,,466 Net worth 6 7 8 9 10 11 12 13 20 21 22 23 24 25 Memo: Data ire In millions of dollars. 1201,• 787 Total noncorp. bus.real estate 26 April 1988 Farm 8 Noncorporate Business 2 0 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1980 1981 1982 1983 1984 1985 1986 1987 1 Tangible assets * Farm Business 1022 ,794 1026 ,435 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 311 ,138 59 ,241 167 ,397 8 4 ,500 325 ,874 63 ,118 181 ,202 81 ,554 322 61 181 79 6 Land 711 ,656 700 ,561 661 ,583 644 ,715 24 ,199 26 ,053 27 ,859 29 ,126 7 ,390 16 ,809 13 ,714 3 ,095 7 ,504 18 ,549 14 ,821 3,,728 7 ,634 20 ,225 16,,110 4,,115 1046 ,993 1052,,488 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets ,568 972 ,160 861 ,154 757 ,920 694 ,167 779 ,446 1 ,985 ,872 ,865 ,248 327 63 184 79 329 65 183 80 313 66 176 71 ,602 ,096 ,387 ,119 304 ,667 67 ,408 170 ,564 66 ,695 315 ,382 68 ,272 167 ,696 79 ,414 2 3 4 5 531 ,659 4 4 4 ,318 389 ,500 464 ,064 6 31 ,200 33 ,598 36 299 39 ,179 7 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 27 ,985 24 ,569 3 ,416 8 ,524 8 30 ,655 9 27 ,715 10 2 ,940 11 1012,,427 1001,,286 892,,354 791,,518 730 ,466 818,,625 12 ,445 ,752 ,328 ,365 ,495 ,618 ,017 ,860 13 Total liabilities 170,,582 192,,129 199,,330 202,,680 201,,426 187,,278 171,,772 161 ,795 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 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,,285 112,,617 38,,927 35,,741 16,,700 19,,041 187,,170 111,,645 39,,907 35,,618 17,,800 17,,818 173,,278 105,,690 35,,507 32,,081 18,,189 13,,892 157,,586 96, 760 31,.240 29,.586 18,.023 11,.563 147,,035 90,,138 30,,147 26,,750 17,,050 9,,700 20 Trade debt 10,,828 15,,766 15,,395 14,,256 14,,000 14,.186 14,,760 20 876,,411 61,,349 815,,062 860,,359 60,.225 800,,134 813,,097 56,,917 756, 180 798,,606 55,,902 742, 704 690,,928 48,.365 642,,563 604,,240 42,,297 561,,943 558, 694 39,,109 519, 585 656, 830 21 45,,978 22 610, 8 5 2 23 850, 8 4 7 851, 654 812, 210 801, 8 3 6 693, 732 606, 773 554, 032 630, 444 24 21 Net worth Corporate farms 22 23 Noncorporate farms 16,, 122 14 15 16 17 18 19 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 1587 ,847 1837,,819 1934 ,297 2061 ,311 2219 .481 2363 ,216 2526 .409 2659 ,537 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant & equipment Inventories 998 628 336 33 ,747 ,290 ,461 ,996 1135,,583 710,,350 391,,737 33,,496 1176 ,119 722 ,790 420 ,209 33 ,120 1233 ,943 765 ,267 435 ,059 33 .617 1316 .521 8 2 4 ,875 455 .239 36 .407 1385,,281 8 7 5 ,271 471,,253 38,,757 1451 .087 922 ,780 487 .872 40 .435 1527 ,401 976 ,299 505 .983 45 ,119 2 3 4 5 6 Land 589 ,100 702,,236 758 ,178 8 2 7 .368 902 .960 977,,935 1075 .322 1132 ,136 6 64 ,294 69,,851 73 ,512 73 .738 8 6 ,252 101 ,587 110 ,262 111 ,919 7 12,,515 26,,745 25 ,034 24,,279 755 12,,515 30,,166 27,.170 26,.334 836 12,,515 31,,770 29 ,227 28,,362 865 12 ,515 36 .581 24 ,642 23 ,801 841 12 ,515 44 ,908 28 ,829 27 ,968 861 12,,515 53,,258 35,,814 34,,981 833 13 ,515 57 ,294 39,,453 38,,682 771 12,,515 8 56,,655 9 42,,749 10 41,,999 11 750 12 1652,,141 1907, 670 2007,,809 2135,,049 2305,,733 2464,,803 2636,,671 2771,,456 13 7 Total financial assets 8 9 10 11 12 Demand deposits 8 currency Consumer credit Miscellaneous assets Insurance receivables Equity in spons. agencies 13 Total assets 14 Total liabilities 366,• 982 399,.226 433,,296 511,,901 615,,862 710, 151 825,,651 954,,488 14 15 16 17 18 19 362,,193 295,,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,,393 509,,864 405,,537 8,,400 117,,402 279,,735 610,,511 495,,316 8,,732 141,,971 344,,613 702, 507 584,,075 9,,213 170, 8 4 7 404, 015 817,,472 690,,145 11,,143 203,,262 475,,740 944,,977 806,,116 12,,193 225,,683 568,,240 13,,528 53,,468 19, 632 61, 931 27,,001 64,,485 28,,432 75,,895 30,,969 84,,226 31, 171 8 7 , 261 34,.665 92,.662 40,,025 20 98,,836 21 4,,789 23,,327 18, 538 3, 712 21, 318 17. 606 1,,355 18,,282 16,,927 2,,037 16,,397 14,,360 5,,351 13, 584 8,,233 7, 644 9, 836 2. 192 8,,179 8, 775 596 9, 511 2 2 13, 314 23 3,8 0 3 24 1285,.159 1508. 444 1574, 513 1623,,148 1689,,871 1754, 652 1811, 020 1816, 968 25 1420, 8 7 2 1655, 019 1744, 349 1867,,172 2019, 341 2 1 6 0 , 064 2319, 779 2445, 908 26 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial Bank loans n.e.c. Other loans Trade debt# net Trade debt - T r a d e credit 25 Net worth 15 16 17 18 19 Memo: 26 Total noncorp. bus.real estate Data are in millions of dollars. April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 21 Year-End Outstandings Year-End Outstandings 1950 1951 1952 1953 1954 1955 NonfInancial Corporate Business, Excluding Farms 1 223,,993 229 ,668 259,,078 289,,354 305,,376 322,,385 335,,722 367 ,317 Tangible assets (current cost) 367,317 1 2 3 4 5 196 ,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,,258 314 ,382 5 ,359 230 ,103 78 ,920 2 3 4 5 6 27,,764 29 ,704 32,,636 36,,017 39,,000 42,,987 48,,293 7 81,,670 85,,601 102,,421 110,,491 115,,957 119,,052 124,,627 8 10 36,,256 21,,861 900 39,,260 22,,903 900 43,,844 24,,222 900 46,,437 25,,859 900 46,,271 26,,641 900 48,,013 26,,550 900 48,,373 28,,329 1,,100 53,,428 29,,282 1,,000 12 13 14 15 16 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 17,523 972 291 129 21,581 1,219 217 9 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 52 ,935 142,,089 Total financial assets 142,089 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 8 9 10 11 12 13 14 15 16 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 17 18 19 20 21 22 23 24 17 18 19 20 21 22 23 24 2 ,210 2 ,530 3 ,076 3 ,463 4 ,007 4 ,188 4 ,397 4 ,881 32 ,295 10 ,909 9 ,625 1 ,192 31 ,587 12 ,224 10 ,700 1 ,383 42 ,098 13 ,403 11 ,788 1 ,418 45 ,716 14 ,875 12 ,979 1 ,548 48 ,910 16 ,769 14 ,721 1 ,666 48 ,142 18 ,709 16 ,253 1 ,786 51 ,663 20 ,194 17 ,631 1 ,866 92 141 197 348 382 670 697 61 ,466 22 ,314 19 ,395 2 ,034 2 883 25 305 ,663 315 .269 361 ,499 399 ,845 421 ,333 441 ,437 460 ,349 509 ,406 Total assets 25 26 103 ,151 102 ,484 125 ,566 139 ,847 145 ,723 150 ,697 155 ,033 176 ,897 Total liabilities 26 27 28 29 30 31 32 33 63 ,342 65 ,243 72 ,024 80 ,422 8 7 ,626 91 ,973 96 ,856 105 ,422 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 54 ,564 21 ,598 2 ,016 6 ,348 13 ,234 27 28 29 30 31 32 33 34 35 36 37 38 39 16 ,327 14 ,537 18,,293 22 ,040 22 ,927 22,,357 21 ,718 25 ,577 166 95 1,,198 511 162 10? 1,,064 638 207 137 1,,138 616 269 156 1 ,352 634 331 167 1 ,834 655 402 188 1,,960 953 531 301 2 ,221 806 362 166 2 ,471 684 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance llab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 12 ,118 24 ,904 2 ,787 9 ,738 24,,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 20 ,085 46 ,314 5,,076 Profit taxes payable Trade debt Foreign direct inv. In U.S. 40 41 42 43 202,,512 212,,785, 235,,933 259 ,998 275,,610 290,,740 305,,316 332,,509 Net worth 44 117,,567 121,,801 132,,104 144,,268 152,,984 161,,351 170,,748 185,,168 Total corp. real estate 44 Market value of equities, 269,,173 including corp.farm equities (Net worth of corporate farms, 9,,432 from farm sector table) 45 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 43 Memo: 45 83,,862 92,,205 116,,647 138,,250 149,,941 144,,776 216,,033 46 7,,186 6,,977 8.,379 9,,231 9,,191 9. 068 9,,209 47 48 31,,278 75,,531 30,,661 70,,758 30.,527 61. 745 30,,931 58,,171 31.,793 58.,440 31. 634 63. 527 31,,723 44,,833 49 41,,410 43,,332 49.,440 53,,173 54. 403 49. 795 70,,757 50 149,,148 154,,658 174.,438 196,,820 210. 204 226. 060 236. 438 256. 302 Tangible assets 50 51 52 53 54 140,,329 1,,963 89,,476 48,,890 145,,645 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. 302 245. 383 2. 847 169. 571 72, 965 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 31,,705 Debt-net worth ratio (27/43) 39,,165 Debt-equities ratio (27/45) Ratio of market value 80, 952 to net worth (45/43) 46 47 48 49 Tangibles and net worth on historical cost basis: 55 8,,819 9, 013 9, 307 9,,628 9, 367 9, 919 10, 264 56 230,,818 240, 259 276. 859 307,,311 326, 161 345, 112 361, 065 398. 391 Total assets 56 57 127,,667 137,,775 151. 293 167,,464 180, 438 194, 415 206, 032 221, 494 Net worth 57 58 57 ,783 61,,691 66. 015 71,,822 77. 302 84, 146 90, 298 10, 919 Memo: 47,307 Data are in millions of dollars. 97, 055 Total corp. real estate 47,595 Debt-net worth ratio (27/57) 58 April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 22 Year-End Outstandings Year-End Outstandings 1958 1959 Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current cost) 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Demand deposits & currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 Total assets 26 Total liabilities 27 28 29 30 31 32 33 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 410 ,238 349 ,921 5 ,462 257 ,504 86 ,955 439 ,521 371 ,645 5 ,542 277 ,332 88 ,771 453 ,142 378 ,522 5 ,750 285 ,999 86 ,773 476 ,880 396 ,473 6 ,076 297 ,664 92 ,733 493 ,209 407 ,705 6 ,348 305 ,767 95 ,590 508 ,781 527 ,068 547 ,341 1 417 ,655 6 ,758 313 ,132 97 ,765 434 ,026 7 ,361 323 ,884 102 ,781 452 ,326 8 ,014 335 ,633 108 ,679 2 3 4 5 60 ,317 67 ,876 74 ,620 80 ,407 85 ,504 91 ,126 93 ,042 95 ,015 6 147 ,210 1511,876 163 ,502 178 ,716 181 ,736 194,,579 206 ,757 222 ,448 7 48 ,893 28 ,990 1,,000 48 ,458 29 ,024 1,,000 50,,992 30,,083 1,,900 56 ,185 29 ,196 1 ,500 51 ,429 28 ,243 3 ,000 54,,837 31,,673 4,,100 57 ,937 34 ,564 5 ,000 138 17,,118 1,,342 305 131 16 ,389 1 ,479 435 149 16,,692 1,,958 210 132 22,,821 1,,794 742 148 16 ,868 2,,382 788 236 15,,344 2,,395 1,,089 790 13 ,582 2,,697 1,,304 61 ,337 8 33 ,427 9 5 ,687 10 11 12 731 13 16,,736 14 3,,787 15 969 16 7,,839 203 102,,586 50,,483 40,,736 6,,031 90 3,,626 5,,123 5 ,133 5,,439 6,,257 6,,235 6,,346 67,,333 25,,861 22,,505 2,,393 13 950 68 ,973 29,,312 25,,394 2,,965 32 921 75,,221 31,,850 27,,409 3,,511 38 892 81,,247 35,,027 29,,827 4,,081 51 1,,068 85,,699 38,,373 31,,865 4,,672 72 1,,764 91, 524 41, 872 34, 717 5, 134 80 1, 941 7,,031 168 96,,131 45,,490 37,,276 5,,684 90 2,,440 557,,448 591,,397 616,,644 655,,596 674,,945 703, 360 733,,825 769,,789 25 17 18 19 20 21 22 23 24 189 ,979 199,,165 209 ,121 227 ,782 239,,371 255 ,032 271 ,628 293 ,525 26 115 ,830 125,,335 133 ,804 144 ,288 154,,722 164 ,792 176 ,961 58 ,040 23 ,225 1 ,788 6 ,632 14 ,805 64,,072 24,,857 1,,671 6,,855 16,,331 69 ,715 27 ,714 1 ,823 7 ,611 18 ,280 72 ,794 30 ,800 1 ,938 8 ,518 20 ,344 76,,216 33,,448 1,,703 9,,289 22,,456 80 ,611 37 ,442 1 ,821 10 ,363 25 ,258 84 ,643 42,,084 2,,001 11 ,413 28 ,670 189 ,267 27 28 88 ,414 29 46 ,780 30 2 ,002 31 12 ,403 32 32 ,375 33 34 35 36 37 38 39 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 30 ,657 31,,866 31 ,527 35 ,310 37,,458 38 ,401 41,,808 378 245 2 ,603 682 422 309 3,,068 741 658 291 3 ,147 752 315 296 3 ,994 779 769 417 5,,558 856 1 ,094 447 5 ,875 922 1,,198 449 5,,644 1,,135 45,,314 34 35 968 36 332 37 6 ,276 38 1,,183 39 40 41 42 Profit taxes payable Trade debt Foreign direct lnv. In U.S. 18 ,102 50 ,588 5 ,459 15,,971 52,,149 5,,710 13,,378 55,,824 6 ,115 15 ,817 61 ,073 6 ,604 13,,615 64,,124 6,,910 14 ,995 67 ,853 7 ,392 15,,941 71,,114 7,,612 17,,508 40 78,,806 41 7,,944 42 367 ,469 392,,232 407,,523 427,,814 435,,574 448 ,328 462,,197 476,,264 43 232,381 243,248 342,,082 361,,299 43 Net worth Memo: 44 Total corp. real estate Market value of equities, 45 including corp.farm equities (Net worth of corporate farms, 46 from farm sector table) 47 Debt-net worth ratio (27/43) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) 289,,169 242,,470 274,676 44 354,,114 428,,294 389 ,171 456,,076 45 12,,424 46 9,,929 10,,402 11,,049 11,,305 11,,385 11,,726 12 ,020 31,,521 40,,056 31,,954 51,,690 32,,833 39,,114 33,,726 39,,935 35,,521 43,,692 36 ,757 38 ,476 38 ,286 45 ,471 39,,739 47 41,,499 48 78,,692 61,,818 83,,941 84,,452 81,,298 95 ,531 84 ,200 95,,761 49 Tangibles and net worth on historical cost basis: 50 Tangible assets 51 52 53 54 Reproducible assets Residential structures Nonres. plant & equipment Inventories 55 Land 281,,919 302,,897 313 ,898 335,,052 354,,625 372,,784 394 ,837 418 ,173 50 269,,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,,383 394 ,887 6,,067 285,,646 103,,174 51 52 53 54 12,,131 12,,876 14 ,390 15,,997 17,,516 19,,570 21,,428 23,,286 55 56 Total assets 429,,129 454,,773 477,,400 513,,768 536,,361 567,,363 601,,594 640,,621 56 57 Net worth 239,,150 255,,608 268,,279 285,,986 296,,990 312,,331 329,,966 347,,096 57 106,745 116,030 124,195 132,272 140,943 149,900 158,691 167,616 58 48,434 49,034 49,874 50,452 52,096 52,761 53,630 54,528 59 Memo: 58 Total corp. real estate 59 Debt-net worth ratio (27/57) Data are in millions of dollars. April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 23 Year-End Outstandings Year-End Outstandings 1967 1968 1969 1970 1971 Nonfinancial Corporate Business, Excluding Farms 1 575, 984 617, 322 677 ,610 726,,638 789,,967 865,.812 934,,953 2 3 4 5 477, 878 8, 984 353, 116 115, 778 515, 965 9,.804 380,.964 125,.197 572 ,599 10 ,891 420 ,267 141 ,441 621,,393 11,,650 457,,368 152,,375 684,,696 13,,681 506,,007 165,,008 756,.887 15,.898 558,.739 182,.250 823,,377 17,,516 615,,785 190,,076 1008 ,425 Tangible assets (current cost) Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 6 98, 106 101,.357 105 .011 105,,245 105,,271 108,.925 111,,576 114,,555 7 237, 308 259,.125 272 .722 289,,197 320,,072 351,,827 370,,274 406,,708 Total financial assets 8 9 10 11 12 13 14 15 16 61, 670 32, 738 6, 671 63,.176 33,.053 8,.993 61 .326 32 .371 8 .603 63,,095 34,,817 9,,682 68 ,569 37,,531 9 ,056 69,,008 43,.122 3,,652 69,,494 44,,059 5,,347 78 ,819 42 ,581 9 ,509 309 1, 097 15, 481 3. 680 1, 694 593 781 13,,786 4,,600 1,,370 895 885 12 ,081 3 ,639 2 ,852 670 1,,055 9 ,619 3 ,300 3 ,952 1,,121 1,,587 10,,393 3 ,782 5 ,099 3,,311 1,,173 7,,322 2,,800 7,,628 234 798 7 ,492 2,,175 9 ,389 1 ,077 1 ,234 9 ,968 3 ,175 11 ,275 13,,587 690 207 ,528 106 ,084 76 ,388 11 ,878 359 17 ,459 . 17 18 19 20 21 22 23 24 8..726 253 111.• 177 55,>482 44,,480 6,.350 91 4,,561 9 ,637 330 124,,481 61,,501 49,,283 6, 766 97 5,,355 10 ,013 425 136 ,652 64 ,306 51 ,007 7 ,331 120 5 ,848 10 ,315 635 144 ,964 70 ,188 55 ,329 7 ,999 134 6 ,726 10 ,406 845 1631,513 76 ,739 58 ,547 8 ,788 160 9 ,244 10,,829 745 186,,144 85,,101 63,,704 9,,935 225 11,,237 11,,430 645 194 ,621 94 ,084 70 ,269 10,,831 336 12,,648 25 813,.292 876 ,447 950 ,332 1015 ,835 1110,,039 1217,,639 1305,,227 1 893 ,870 20,,200 672 ,937 200,,733 7 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 8 9 10 11 12 13 14 15 16 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct Investment Insurance receivables Equity in spons. agencies Other 17 18 19 20 21 22 23 24 1415,,133 Total assets 25 26 26 314..031 347 ,304 380 ,969 409 ,327 4571,711 506,,683 540 ,431 580 ,162 Total liabilities 27 28 29 30 31 32 33 201,,685 220 ,172 242 ,720 267 ,579 294 ,991 325,,459 353,,945 92 ,408 49 ,475 1,,902 13 ,657 33 ,916 97 ,260 51 ,685 1 ,997 14 ,522 35 .166 107 ,474 54 ,525 1 ,598 15 ,247 37 ,680 122 ,132 56 ,626 2 ,102 16 ,050 38 ,474 135 ,025 58 ,847 2 ,224 17 ,082 39 ,541 147,,000 58,,038 2 ,008 18 ,551 37,,479 166 ,756 58 ,918 2 ,153 19 ,750 37 ,015 378 ,919 86 185 ,563 61 ,422 3 ,050 21 ,672 36 ,700 34 35 36 37 38 39 49 ,955 60 .723 69 ,005 75 ,671 8 5 ,448 98 ,834 103 ,582 107 ,575 1 ,125 382 6 ,958 1 ,382 797 445 7 .586 1 .676 1 ,622 531 7 ,521 2 ,042 3 ,034 652 7 .231 2 .233 4 ,249 787 8 ,978 1 .657 5 ,356 1 ,141 13 ,316 1,,774 7 ,133 1 ,545 13 ,952 2 .059 6 ,247 1 .809 14 .613 1 .604 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance llab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 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 ,472 161 ,744 13 ,270 13 .345 173 .984 13 .914 Profit taxes payable Trade debt Foreign direct inv. In U.S. 40 41 42 43 499 .261 529 ,143 569 ,363 606 ,508 652 .328 710 ,956 764 .796 834 .971 Net worth 43 434,192 474,407 Total corp. real estate 44 340,778 45 46 509,,516 12,,886 553,.720 13,.783 504,,223 14,,325 651,,678 15,,045 736,.506 15,,819 646,,230 648 ,492 16,,419 16 ,803 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial Market value of equities, 758,,897 including corp.farm equities (Net worth of corporate farms. from farm sector table) 18,,119 45 ,381 Debt-net worth ratio (27/43) 49,,919 Debt-equities ratio (27/45) Ratio of market value to net worth (45/43) 90,,908 47 48 40 ,396 39,,583 41,,609 39,,762 42,,630 48,,137 44,,117 41,,054 45 ,221 40,,046 45,,777 50,,360 46 ,279 54 ,577 49 102 ,054 104,,644 88,,558 107,,462 112,,921 90,,900 84 ,796 50 445,,602 482,.941 531, 574,619 620,.903 678,.205 724,.691 769,,831 Tangible assets 51 52 53 54 420,,328 6,,915 303,,428 109,,985 455,.091 7,,717 327,.914 119,,460 501,,694 8,,412 357,,939 135,,343 542,245 9,013 386,579 146,653 586,.239 10,.117 418,,144 157,.978 639, 283 11,.623 454,.386 173,.274 684,.117 13,.004 488,.550 182,,563 727,,322 14,,663 521,,246 191,,413 55 25,,274 27,850 30,,199 32,374 34,,664 38,,922 40,,574 56 682,,910 742,,066 804,,615 863,816 940,,975 1030,,032 1094,,965 57 368 ,879 394 ,762 423,,646 454,489 483 ,264 523 ,349 554,,534 596 ,377 Net worth 58 177 ,659 190 ,853 205 ,677 220,100 236 .915 256 ,109 274 ,034 292 .119 Total corp. real estate 59 54 .675 55 ,773 57 ,293 58.874 61 .041 62 .187 63 ,827 27 28 29 30 31 32 33 45 46 47 48 49 Tangibles and net worth on historical cost basis: 00 42 ,509 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Land 1176 ,539 Total assets 50 51 52 53 54 55 56 57 Memo: Data are In millions of dollars. 63 .536 Debt-net worth ratio (27/57) 58 59 April 1988 Nonfinanclal Corporate Business Nonfinanclal Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 24 Year-End Outstandings Year-End Outstandings 1974 1973 1975 1978 1976 Nonfinanclal Corporate Business* Excluding Farms 1089,252 1231,514 1521,038 1651.681 1805,605 2004,344 2311,049 2618,467 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 966,298 21,261 727,758 217,279 1096,153 23,042 813,295 259,816 1362,786 24,914 1006,557 331,315 1487,304 25,837 1124,220 337,247 1627,296 27,616 1224,508 375,172 1803,382 30,309 1356,144 416,929 2076,158 33,513 1560,828 481,817 2351,545 36,711 1755,579 559,255 6 Land 122,954 135,361 158,252 164,377 1 Tangible assets (current cost) 526,810 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 Total assets 1 178,309 200,962 234,891 266,922 6 612,893 672,704 765,661 897,665 7 159,821 57,698 31,174 610 13,729 16,661 11,538 3,658 24,753 185,820 60,309 35,877 3,000 16,343 21,804 18,105 3,687 26,695 8 9 10 11 12 13 14 15 16 21,762 1,060 437,275 251,748 178,240 38,949 633 33,926 17 18 19 20 21 22 23 24 88,015 44,938 11,890 100,960 46,315 16,623 105,407 47,772 20,464 125,170 53,927 22,351 139,778 56,365 24,413 2,688 2,172 7,917 4,175 14,235 11,262 3,329 4,517 4,038 14,876 5,485 4,946 5,566 4,654 16,520 4,731 5,772 14,281 4,481 19,627 7,048 7,441 16,421 3,419 24,671 143,641 59,207 29,215 200 8,256 8.742 10,026 3,468 24,527 14,032 732 234,173 119,259 81,503 13,729 377 23,650 14,929 775 273,544 136,602 91,715 15,689 396 28,802 15,459 816 250,336 145,476 100,364 17,816 413 26,883 15,825 890 256,494 160,136 114,140 20,043 423 25,530 17,136 964 275,793 179,222 126,583 23,424 460 28,755 19,377 790 310,874 198,022 135,382 27,833 539 34,268 20,587 618 367,436 217,199 151,761 33,415 581 31,442 1545 ,463 1758,,324 2038,,532 2210,,196 2418,,498 2677 ,048 3076 ,710 3516 ,132 25 1233 ,053 26 26 Total liabilities 636 ,219 732,,786 743,,377 767,,144 829,,450 924 ,619 1070 ,839 27 28 29 30 31 32 33 411 ,860 634 197 ,750 64 ,183 3 ,626 24 ,457 36 ,100 461,,501 2,,430 206,,909 66,,040 3,,226 26,,914 35,,900 527,,386 4,,078 226,,579 67,,016 3,,008 28,,308 35,,700 544 ,711 6,,678 253 ,783 66,,033 3,,635 28,,798 33,,600 586,,176 9,,163 276,,614 68,,568 5,,018 29,,950 33,,600 656 ,947 17 ,377 299 ,491 72,,252 6 ,778 31,,974 33,,500 739,,929 25,,041 320,,607 76,,887 7,,573 34,,714 34,,600 834 ,843 35 ,028 337,,915 78 ,432 7 ,035 37,,197 34 ,200 27 28 29 30 31 32 33 34 35 36 37 38 39 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 34 35 36 37 38 39 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance llab. to banks Nonbank finance loans U.S. government loans 120,,457 6 ,968 1 ,836 18 ,187 1,,845 150,,923 32 8 ,382 2,,368 22,,279 2 ,138 181,,545 253 12,,513 3,,623 28,,112 3,,667 168,,719 325 9,,616 3,,790 31,,894 3,,873 170,,836 495 11,,049 5,,082 40,,313 4,,056 190 ,845 645 12,,808 5 ,721 53,,782 4,,026 225 ,058 901 15 ,499 4,,954 65 ,268 5 ,714 266,,808 2,,888 24 ,518 6 ,921 75 ,425 6 ,908 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 13,,253 196 ,238 14 ,868 15,,631 235,,098 20,,556 16,,717 174,,130 25,,144 14,,312 180,,459 27,,662 21,,796 190,,708 30,,770 20 ,251 212 ,826 34,,595 24,,552 263,,887 42,,471 27,,075 40 316,,673 41 54,,462 42 909,,244 1025,,538 1295,,155 1443,,052 1589,,048 1752,,429 2005,,871 2283,,079 43 514,,799 575,,415 700,,869 751,,871 813,,543 897,,644 1044,,393 1158,,954 44 855 ,233 678,,436 499,,098 684,,337 787,,807 748,,002 773,,143 933,,373 45 20 ,615 26,,012 28,,758 32,,291 37,,298 40,,805 48,,195 55,,673 46 45,,296 48 ,136 45,,000 68,,053 40,,719 105,,792 37,,747 79,,658 36,,888 74,,425 37 ,487 87,,859 36,,888 95,,741 36,,566 47 89,,462 48 94,,101 66,,126 38,,490 47,,386 49,,564 42,,667 38,,528 40,,873 49 43 Net worth Memo: 44 Total corp. real estate Market value of equities# including corp.farm equities (Net worth of corporate farms# 46 from farm sector table) 45 47 Debt-net worth ratio (27/43) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) Tangibles and net worth on historical cost basis: 50 Tangible assets 51 52 53 54 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 55 Land 56 Total assets 57 Net worth 828,,166 919,,113 1046 ,073 1111,,612 1211,,128 1334,,403 1497,,745 1690,,633 50 782,,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,,649 14,,917 794,,641 345,,091 1274,,988 15,,069 876,,462 383,,457 1434,,108 15,,348 982,,063 436,,697 1623,,381 15,,730 1110,,306 497,,345 51 52 53 54 45,,380 49,,898 53 .787 54,,965 56,,479 59,,415 63 ,637 67,,252 55 1284 ,377 1445,,923 1563 .567 1670,,127 1824,,021 2007,,107 2263,,406 2588,,298 56 648,,158 713,,137 820 .190 902, 983 994,,571 1082,,488 1192,,567 1355,,245 57 311,,364 336,,441 365 ,689 390,,795 417,,454 447,,426 486,,864 537 ,037 58 58,937 60,688 Memo: 58 Total corp. real estate 59 Debt-net worth ratio (27/57) Data are In millions of dollars. April 1988 Nonflnanclal Corporate Business Nonflnanclal Corporate Business 25 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Nonflnanclal Corporate Business, Excluding Farms 1 2988, 346 3362,500 3507,857 5611, 194 5849, 785 5997, 006 4144. 768 4349,881 Tangible assets (current cost) 1 2 3 4 5 2670, 714 39, 527 2010, 371 620,816 2992, 933 41, 979 2277, 016 673, 938 3107, 255 41, 249 2406, 915 659, 091 5186, 172 42, 920 2469, 044 674, 208 5585. 767 44. 918 2599, 950 740, 899 5502. 508 46. 549 2702. 219 755. 540 5616, 436 48, 514 2811, 674 756, 248 3798,350 50,790 2927,440 820,120 2 3 4 5 551,531 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Land 6 317, 632 369, 567 400, 582 425, 022 464. 016 494. 698 528, 332 7 1012, 922 1098, 579 1124, 254 1242, 515 1552. 020 1458. 906 1570,,994 8 9 10 11 12 13 14 15 16 213, 502 65, 071 42, 353 6, 993 22, 915 24, 623 23, 701 3. 490 24, 356 254, 943 65, 373 59, 758 18, 416 22, 922 22, 965 27, 714 3, 470 34, 325 297, 281 73, 752 71. 529 19. 051 26,,645 22, 555 38,,000 3,,556 42,,257 551, 414 80, 445 88, 145 11, 155 57, 887 25, 680 50. 998 4. 201 52. 907 588, 045 87, 125 101, 572 16, 062 55,,557 20, 595 65,,174 4,,066 62,,516 415, 096 96. 879 110, 792 12,817 57, 346 18, 508 67, 550 4, 902 66,,522 472, 169 108, 341 120, 509 14,,000 47,,000 24,,456 77,,994 7, 968 71,,901 513,227 106,257 138,591 15,140 61,829 17 18 19 20 21 22 23 24 21, 987 1, 507 485, 505 290, 421 208, 467 43,,619 642 37, 693 23, 854 1, 624 508, 685 309, 473 224. 826 47, 320 642 36, 685 24,,596 3,,070 493,,055 306,,452 213,,347 50,,030 714 42,,361 27. 740 4, 501 555, 258 505, 400 215, 934 55. 495 725 55, 250 51,,494 7,,195 601,,615 323,,673 221,,941 58,,652 724 42,,556 54,,650 12,,510 656,,855 559,,795 237,,169 68,,617 851 55,,178 55,,612 15,,000 649,,220 598,,995 262,,205 78,,646 915 57,,229 35,773 18,400 690,894 413,435 288,327 83,300 1,289 40,519 25 4001, 268 4461,.079 4632,,071 4855,,507 5201,,805 5455,,912 5715,,762 6021,610 Total assets 26 1376,,670 1532,,344 1608,,851 1731,,017 1989,,657 2215,,009 2451,,675 2665,797 Total liabilities 27 28 29 30 31 32 33 912,,027 45 ,892 365,,570 801,602 51,954 40,,648 34,,000 1018,,014 59,,323 388,,331 78,,652 4,,544 41,,408 32,,700 1087,,640 74,,466 406,,997 77,,452 5,,057 40,,766 31,,609 1150,,951 85,,897 425,,025 80,,957 8,,400 41,,597 50,,940 1546,,962 104,,459 469,,152 81,,270 8,,752 41,,825 50 ,715 1519,,058 127,,059 542,,905 81,,705 9,,215 41,,690 30,,800 1708,,975 117,,158 664 ,181 84 ,416 11 ,145 42 ,195 51,,080 1890,181 115,877 789,610 86,597 12,193 42,924 31,480 34 35 36 37 38 39 291 ,705 4 ,199 28 ,026 8 ,538 79 ,119 8 ,376 326 ,273 13 ,095 42 ,722 10 ,724 89 ,323 9 ,571 363 ,041 151,612 37 ,614 10 ,335 91 ,294 10 ,851 581,,549 18,,290 56,,775 13 ,820 102 ,440 10,,400 445 ,315 51 ,339 58 ,490 15 ,216 130 ,145 11 ,600 482,,198 52,,881 72,,207 14 ,161 151 ,734 14 ,230 558 ,326 45 ,948 62 ,865 14 ,064 169 ,285 14 ,750 547,753 51,322 73,768 16,500 194,254 14,500 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance llab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 25 ,341 356 ,256 83 ,046 18 ,546 387 ,070 108 ,714 4 ,484 392 ,050 124 ,677 10 ,242 432 ,785 137 ,061 10 ,907 467 ,205 164 ,583 9 ,146 500 ,190 184 ,615 10 ,192 503 ,181 209 ,329 10,154 521,863 243,599 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 2624 ,598 2928 ,735 5023 ,240 5122 ,490 5212 ,146 5242 ,905 5284 ,087 3355,813 Net worth 1659 ,653 1747 ,608 1822 ,808 1899 ,174 1973*241 Total corp. real estate Market value of equities, 2392,151 including corp.farm equities (Net worth of corporate farms* 45,978 from farm sector table) 1671,729 Total financial assets 21,688 87,544 10,532 71,646 Liquid assets Demand deposits & currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities 14 15 Tax-exempt obligations Open-market paper 16 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity In spons. agencies Other Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 17 18 19 20 21 22 23 24 27 28 29 30 31 32 33 43 Memo: 44 1326 ,605 1505 ,697 1585 ,405 45 1293 ,116 1214 ,845 1582 ,775 1658 ,750 1617 ,755 2022 ,648 2552 ,629 46 61 ,349 60 ,225 56 ,917 55 ,902 48 ,565 42 ,297 59 .109 47 48 34 ,749 70 ,537 34 ,759 83 ,808 55 • 975 78 ,618 56 ,859 70 ,205 41 ,955 8 5 ,266 46 ,842 74 ,977 52 ,037 75 ,164 49 49 ,263 41 .474 45 ,760 52 ,505 5 0 ,560 62 ,475 71 ,125 50 1879. 552 2086,,898 2206,488 2559 ,286 2560,,199 2736,,817 2880,,814 3056 ,776 Tangible assets 51 52 53 54 1805,510 16,054 1241,496 547,960 2005,,222 16,,505 1392,,792 596,,125 2119.570 16,718 1525.175 577.479 2244 ,498 17 ,117 1659 ,910 587 ,471 2457,,828 18 ,140 1789 ,575 650 ,115 2626,,256 19,,160 1945,,541 661,,755 2764,,725 20,,194 2074,,750 669,,781 2937 ,155 21 ,205 2194 ,047 721 .905 55 73,,822 81,,676 87.118 94 ,788 102 ,571 110,,561 116,,089 4195,,725 4451,,808 4728 ,505 Total assets 56 2062 .708 Net worth 57 56,325 Debt-net worth ratio (27/43) 1,892 Debt-equities ratio (27/45) Ratio of market value 2976,922 to net worth (45/43) 45 46 47 48 Tangibles and net worth on historical cost basis: 56 2892,,254 57 1515,,584 58 596 ,196 59 60 ,176 5185,,477 5550.722 5581 .599 5912 ,219 1721.891 1850 .582 1922 .562 1982 ,714 2020 ,155 668 • 065 756,086 790 ,551 858 .475 952,809 985 ,652 61 ,580 65.165 62 .192 70 .060 76 ,615 84 ,597 1655 ,133 119 .621 50 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 55 54 Land 55 Memo: Data are In millions of dollars. 1050 .416 Total corp. real estate 91 .655 Debt-net worth ratio (27/57) 58 59 April 1988 Private Financial Institutions 26 Year-End Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Outstandings 1948 1949 1950 1951 1952 1953 1954 1955 Private Financial Institutions 1 Tangible assets Nonres. plant 8 equipment 2 Land 3 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market Instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 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 5 ,997 5 ,113 884 256,,380 270, 848 292,,419 312,,878 339 ,622 362,,158 394,,017 427 ,303 4 5,,019 56 5,,268 50 5 ,910 53 6 ,505 129 6 ,675 170 6,,977 205 7,,303 283 7 ,687 348 5 6 285 271 221 315 388 448 553 572 8 9 10 5,,559 216,,346 102,,353 2,,066 8,,628 27,,625 8,,065 231,,012 105,,986 2,,104 10,,173 31,,212 9 ,412 248 ,206 99,,384 1,,892 12,,506 34,,274 10,,257 263 ,795 95 ,972 1 ,830 14,,125 37 ,918 11 ,866 287 ,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 24 ,144 356 ,697 96 ,028 3 ,156 22 ,825 54 ,857 11 12 13 14 15 16 ~ ~ 1 2 3 17 18 19 20 21 22 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. llab. on acceptances 38,,043 10,,499 21,,842 485 4,,546 259 43,,178 12,,931 20,,171 499 4,,486 272 52,,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,,385 873 100 ,739 31 ,706 38 ,750 942 7 ,052 642 17 18 19 20 21 22 23 24 25 26 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous flnan. assets 2,,915 22,,457 652 3,,091 3,,658 18,,578 723 3,,223 41,453 19,,855 740 3 ,569 4,,132 22,,753 850 4,,142 4 ,865 22 ,703 948 4 ,784 5 ,729 22 ,672 1 ,006 5 ,181 7,,526 21,,345 1,,064 5,,975 8 ,645 21 ,687 1,,156 6,,367 23 24 25 26 27 Total assets 259,,695 274,,249 296 ,204 317,,148 344 ,074 366 ,951 399,,191 433,,300 27 28 Total liabilities 233,,881 247,,101 266,,609 285 ,810 310 ,534 331 ,488 358,,702 389,,089 28 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 89,,488 62,,052 90,,329 64,,624 95 ,924 67 ,024 102,,743 71,,914 107 ,902 79 ,803 108 ,025 88 ,014 112,,538 97,,341 3,,930 -95 4,,294 -82 4,,576 -61 4,,546 7 4,,874 22 5 ,824 37 7,,011 -20 114,,678 29 106,,096 30 31 6,,693 32 -205 33 34 35 36 Life insurance reserves Pension fund reserves Interbank claims, net 43,,777 12,,571 1,,911 46,,444 14,,368 2,,403 49 ,080 17,,511 3 ,735 51,,635 20 ,367 3 ,666 54 ,480 24,,184 3 ,702 57 ,388 28 ,538 3 ,581 60,,389 33,,295 3,,426 63,,459 34 40,,498 35 4,,858 36 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 1,,515 3,,619 973 3,,070 4,,468 1,,355 3 ,344 6 ,354 1 ,735 3,,481 6 ,953 2 ,023 3 ,931 8 ,198 2 ,280 4 ,146 9 ,899 3 ,681 6,,109 10,,094 3,,604 1,,367 770 509 1,,735 951 427 2 ,697 1,,112 810 2 ,460 1,,559 911 3 ,139 1 ,915 864 3 ,044 2 ,222 952 3,,250 2,,373 867 7,,838 37 13,,943 38 4,,528 39 40 5,,611 41 2,,387 42 1,,417 43 44 45 46 Security debt Taxes payable Miscellaneous liabilities 2,,068 495 12,,550 2,,588 708 13,,887 2 ,960 868 15 ,294 2,,681 1,,098 16,,719 3 ,056 1 ,434 18,,948 3 ,445 1 ,903 20,,688 4,,450 1,,634 22,,435 4,,746 44 1,,260 45 25,,225 46 25,,814 18,,783 7,,031 27,,148 19,,936 7 ,212 29 ,595 21 ,269 8 ,326 31,,338 22,,462 8,,876 33,,540 24 ,308 9 ,232 35,,463 25,,374 10,,089 40,,489 29,,216 11,,273 44,,211 47 31,,223 48 12,,988 49 21,,679 2 ,668 24 ,017 2,,624 24 ,834 2 ,845 26 ,879 3 ,134 30 ,669 3 ,199 28 ,754 3 ,376 33,,991 3,,666 37,,562 50 4,,284 51 47 Net worth Approximate share stock cos. 48 Approximate share other cos. 49 Memo: 50 Market value of equities 51 Total fin. Inst, real estate Data are in millions of dollars. April 1988 Private Financial Institutions Private Financial Institutions 27 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings 1956 Year-End Outstandings 1957 1958 1959 1960 1961 1962 10 ,284 8 ,065 2 ,219 11,,338 8,,898 2,,440 1963 Private Financial Institutions 1 2 3 6. 928 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 12 ,237 Tangible assets 9 ,615 Nonres. plant 8 equipment Land 2 ,622 1 2 3 4 452. 772 476.,690 523,,161 558 ,559 597,,191 657,,006 705,,979 5 6 7 8 9 10 7,,819 431 8,,077 500 8,,717 668 8 ,554 724 8,,937 721 10,,044 877 10,,981 960 11 ,048 1 ,023 590 624 827 806 846 1,,045 1,,119 1 ,164 11 12 13 14 15 16 25,,946 378,,697 91,,684 2,,864 24,,140 58 ,683 25,,530 401,,927 90,,685 3,,351 26,,449 65 ,157 36 ,361 434 ,585 99 ,556 3 ,942 30 ,508 70 ,687 42 ,634 463 ,227 92 ,640 3 ,138 32 ,791 74 ,907 46,,239 497,,022 94,,274 4,,022 34 ,835 79 ,545 61,,385 536 ,367 100 ,520 4 ,840 38 ,685 84 ,913 58,,089 583,,978 101,,974 6 ,730 44,,443 90,,872 70 ,821 633 ,523 98 ,428 7 ,237 48 ,825 96 ,860 17 18 19 20 21 22 112 ,799 34 ,872 44 ,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 ,338 50 ,688 59 ,868 2 ,707 14 ,125 2 ,683 197 ,873 55 ,639 65,,860 3,,141 14,,796 2,,650 223 ,583 62 ,972 72 ,926 3 ,170 16 ,632 2 ,890 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. llab. on acceptances 17 18 19 20 21 22 23 24 25 26 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,,255 15 ,083 21 ,308 2 ,332 15,,149 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous flnan. assets 23 24 25 26 27 459 ,700 484 ,281 531 ,321 567 ,463 606,,746 667 ,290 717,,317 783,,688 Total assets 27 - 771 ,451 Total financial assets - 4 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 11 12 13 14 15 16 28 412 ,853 435 ,840 477 ,417 510 ,190 546,,015 599 ,504 646,,219 708,,403 Total liabilities 28 29 30 31 32 33 116 ,493 115 ,660 115 ,841 127 ,703 121 ,409 141 ,951 122 ,979 153 ,428 125,,022 165,,076 130,,140 183,,339 134,,711 209,,127 136,,925 234,,662 6 ,489 -210 6 ,701 -313 9 ,290 -252 7 ,552 -28 11,,119 -262 13 ,569 14 16,,408 63 20,,353 26 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 29 30 31 32 33 34 35 36 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,,502 82 ,112 88 ,649 7 ,948 85,,754 93,,639 7,,597 89,,860 106,,041 7,,382 Life insurance reserves Pension fund reserves Interbank claims, net 34 35 36 37 38 39 40 41 42 43 9 ,046 14 ,796 5 ,609 8 ,714 16 ,376 6 ,354 13 ,241 15 ,655 6 ,556 15 ,818 19 ,358 7 ,733 17,,026 22,,985 9,,112 22,,875 24,,869 9,,262 21,,271 27,,943 9,,222 25,,214 33,,472 10,,530 5 ,110 2 ,849 1 ,228 5 ,113 3 ,644 1,,265 4 ,406 3 ,395 1 ,298 5 ,441 4 ,050 2 ,134 6,,117 5,,775 1,,981 6,,643 6,,302 2,,662 7,,764 7,,478 3,,479 9,,417 8,,741 4,,784 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 37 38 39 40 41 42 43 44 45 46 4 ,158 1 ,452 27 ,303 4 ,287 1 ,635 30 ,004 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 7,,739 1, 548 45,,181 Security.debt Taxes payable Miscellaneous liabilities 44 45 46 47 48 49 46 ,847 32 ,753 14 ,094 48 ,441 33 ,447 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 71. 098 48.,064 23.,034 75,,285 Net worth 47 Approximate share stock cos. 48 51.,209 Approximate share other cos. 49 24.,076 50 51 37 ,154 4 ,968 45,,586 5,,481 59 ,559 5 ,970 73,,182 6,,544 75,,874 7.,075 117,,925 7,,767 90. 529 8, 617 Memos Data are in millions of dollars. 110.,586 Market value of equities 9. 345 Total fin. Inst, real estate 50 51 April 1988 Private Financial Institutions 28 Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1964 1965 1966 1967 1968 1969 1970 1971 Private Financial Institutions 1 Tangible assets 2 Nonres. plant 8 equipment 3 Land 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 13 ,727 10 ,843 2 ,884 15 ,576 12 ,460 3 ,116 17 ,477 14 ,188 3 ,289 19 ,185 15 ,935 3 ,250 22 ,124 18 ,753 3 ,371 24 ,931 21 ,340 3 ,591 27 ,821 24 ,097 3 ,724 31 ,445 27 ,538 3 ,907 846 ,507 927 ,637 975 ,559 1077 ,176 1185 ,562 1241 ,324 1341 ,338 1514 ,064 4 11 ,267 1 ,118 11 ,665 1 ,126 11 ,320 1 ,037 11 ,658 1 ,133 12 ,346 1 ,053 12 ,007 832 12 ,465 1 ,040 13 ,340 1 ,492 5 6 1 ,342 1 ,337 1 ,429 2 ,092 2 ,253 107 1 ,853 336 2 ,826 442 4 ,721 1 ,168 8 9 10 83 ,861 691 ,479 99 ,740 8 ,111 52 ,403 103 ,921 99 ,136 753 ,439 95 ,561 9 ,119 57 ,099 111 ,655 94 ,815 801 ,143 92 ,118 10 ,727 59 ,718 120 ,886 122 ,808 864 ,430 96 ,182 14 ,090 70 ,160 133 ,310 145 ,755 939 ,080 98 ,701 17 ,021 79 ,689 142 ,217 141 ,746 998 ,102 85 ,087 18 ,822 81 ,238 150 ,453 151 ,178 1076 ,256 91 ,990 25 ,661 93 ,798 163 ,518 196 ,720 1184 ,788 91 ,129 33 ,841 110 ,375 177 ,512 11 12 13 14 15 16 1 2 3 17 18 19 20 21 22 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 249 ,213 71 ,292 81 ,130 3 ,577 18 ,707 3 ,385 274 ,728 80 ,223 96 ,941 3 ,511 21 ,210 3 ,392 292 ,558 86 ,037 106 ,449 5 ,324 23 ,723 3 ,603 310 ,681 91 ,014 112 ,914 7 ,446 24 ,316 4 ,317 333 ,355 101 ,676 126 ,683 7 ,514 27 ,796 4 ,428 355 ,063 111 ,592 144 ,020 11 ,092 35 ,284 5 ,451 375 ,439 115 ,495 150 ,726 14 ,694 37 ,877 7 ,058 416 ,425 128 ,691 162 ,233 16 ,471 40 ,222 7 ,889 17 18 19 20 21 22 23 24 25 26 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous flnan. assets 15 ,045 22 ,382 2 ,484 17 ,529 15 ,263 23,,298 2 ,649 19 ,724 15 ,824 25 ,244 2 ,898 21 ,849 20 ,498 27 ,023 3 ,176 24,,358 24 ,659 29 ,054 3 ,476 27 ,779 20 ,021 29 ,405 3 ,898 33 ,124 20 ,174 31 ,197 4 ,370 41 ,390 23 ,525 35 ,329 4 ,661 48 ,320 23 24 25 26 27 Total assets 860 ,234 943,,213 993 ,036 1096,,361 1207 ,686 1266 ,255 1369 ,159 1545,,509 27 28 Total liabilities 778 ,420 856,,107 904,,609 1001,,140 1103,,730 1163 ,815 1267,,976 1433,,227 28 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 143,,641 260,,196 148,,953 287,,330 150,,759 305,,206 162,,896 339, 846 176,,210 366,,518 180 ,864 380,,605 190,,202 411,,437 25,,119 540 31,,033 1,,749 33,,356 1,,674 39,,269 1,,659 46,,009 2,,586 30,,485 8,,707 54,,692 4,,650 203,,402 29 479,,829 30 31 68,,115 32 8,,666 33 34 35 36 Life Insurance reserves Pension fund reserves Interbank claims, net 94,,172 120,,821 7, 402 98, 863 135, 770 7,,704 103,,450 144,,150 12,,002 108,,335 165,,020 12,,634 113, 138 185, 427 16, 234 118,,110 194,,623 23,,513 123,,345 213,,291 18,,939 129, 626 34 247,,524 35 12, 545 36 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 29,,116 38,,847 12, 834 35, 220 45,,267 15,,051 34,,829 49,,072 15,,275 44, 307 47, 968 15, 954 9, 952 10, 736 5, 325 12, 290 11, 929 5, 997 11,,200 15, 662 6, 935 9, 217 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 46, 811 76, 756 21, 002 546 11, 526 33, 067 10, 615 44 45 46 Security debt Taxes payable Miscellaneous liabilities 8, 377 1, 759 48, 430 8, 737 1, 786 53, 695 9, 576 1,,741 58, 794 12, 745 1,548 64, 913 16, 199 1, 708 74, 523 13,,173 1,894 93, 447 14, 153 2, 479 111, 221 15,299 44 2, 443 45 128, 913 46 81, 814 55, 331 26, 483 87, 106 57, 079 30, 027 88, 427 56, 559 31,868 95, 221 60, 248 34, 973 103, 956 64, 744 39, 212 102, 440 63, 635 38,805 101, 183 61, 068 40, 115 112,282 47 66, 000 48 46, 282 49 118. 184 10, 376 154, 980 11,537 139, 277 12, 686 167, 022 13,250 238, 394 14, 995 213, 170 16,892 204, 308 18, 621 237, 203 50 20,896 51 47 Net worth 48 Approximate share stock cos. 49 Approximate share other cos. 55, 446 81, 419 25, 906 680 13, 050 33,847 7, 936 37 38 39 40 41 42 43 Memo: 50 Market value of equities 51 Total fin. Inst, real estate Data are in millions of dollars. April 1988 Private Financial Institutions Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost 29 Year-End Outstandings Year-End Outstandings 1973 1975 1976 1977 1978 1979 Private Financial Institutions 1 2 3 34, 772 30, 677 4, 095 40, 124 35, 778 4,,346 49,,804 44,,950 4,,854 54,,669 50,,140 4,,529 61,,083 56,,408 4,,675 69,,038 64,,100 4,,938 82,,312 76,,641 5,,671 92,,098 86,,374 5,,724 4 1744, 738 1898,,062 2006,,826 2241,,802 2499,,659 2791,,881 3190,,532 3600,,558 5 6 7 8 9 10 15, 109 1,805 15,,632 1,,611 16,,068 1,,895 17,,922 2,,124 18,,806 2,,073 6, 773 1, 667 7,,906 3,,709 13,,722 6,,107 22,,998 5,,059 21,,094 6,,682 20,,958 2,,517 244 24,,856 9,,688 14 23,,898 1,,766 762 35,,964 11,,488 470 26,,821 2,,121 2,,182 48,,452 16,,988 5,,109 11 12 13 14 15 16 238,,903 1337,,681 93,,936 44,,543 122,,126 194,,172 206,,514 1508,,377 83,,245 57,,218 131,,457 206,,976 160,,149 1648,,942 81,,325 65 ,487 138,,595 223 ,654 218,,956 1778,,829 123,,277 76 ,269 146 ,332 255 ,971 256,,014 1975,,965 161,,773 85,,466 158,,677 283,,183 248,,315 2237,,014 168,,265 101,,503 181,,388 318,,329 282,,678 2541,,181 162 ,642 122,,878 207,,646 353 ,539 324 ,527 2855,,524 172,,210 147,,094 227,,897 379,,035 17 18 19 20 21 22 476,,724 147,,121 188 ,464 18,,332 45,,365 6 ,898 542,,307 1701,287 237 ,308 18 ,164 52 ,523 8 ,892 580 ,302 178 ,896 278 ,287 23 ,887 60 ,025 18 ,484 614 ,250 183 ,666 264 ,951 30 ,030 65 ,356 18 ,727 677,,171 204,,452 271,,764 35,,632 75,,324 22,,523 773 ,229 240,,794 300,,633 36,,658 90,,561 25 ,654 880 ,514 284 ,325 359 ,352 40,,720 104 ,627 24 ,938 978 ,718 323 ,580 409,,715 65,,366 119,,444 32,,465 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 17 18 19 20 21 22 23 24 25 26 32,,056 34 ,295 5 ,842 70 ,607 24 ,300 37 ,748 6 ,485 85 ,780 20 ,546 37 ,483 7 ,020 94 ,894 23 ,634 38 ,304 7 ,668 126 ,308 34,,856 37,,279 8,,878 138,,012 38 ,052 40,,792 10,,176 159,,255 36 ,821 46 ,693 11 ,656 197,,155 37,,090 48,,280 13,,591 219,,873 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 23 24 25 26 27 1779 ,510 1938 ,186 2056 ,630 2296 ,471 2560,,742 2860,,919 3272 ,844 3692,,656 28 1657 ,655 1813 ,376 1935 ,568 2180 ,560 2427,,186 2712 ,288 3092,,781 3480,,432 29 30 31 32 33 223 ,190 549 ,479 236 ,121 588 ,698 86 ,914 11 ,136 126 ,021 27 ,390 236 ,087 626 ,409 2 ,379 167 ,087 30 ,277 244 ,045 724 ,377 3 ,696 158 ,153 31 ,805 258,,265 845,,930 3,,686 144,,277 45,,639 283 ,729 940 ,487 3 ,887 172 ,579 58,,135 310 ,131 1005 ,361 10 ,808 227 ,577 82 ,780 337,,717 1065,,076 45 ,214 256 ,852 100,,708 34 35 36 136 ,349 297 ,948 9 ,884 143 ,522 302 ,483 3 ,375 150 ,528 307 ,089 2 ,059 158 ,474 402 ,163 - 9 ,395 167,,073 461,,039 -17,,583 176 ,386 507,,452 -24 ,134 187 ,257 601,,737 -14,,628 37 38 39 40 41 42 43 58 ,926 96 ,332 32 ,953 1 ,160 19 ,520 34 ,720 7 ,979 46 ,635 123 ,449 37 ,393 1 ,480 27 ,757 41 ,672 15 ,147 35 ,151 150 ,686 40 ,473 1 ,649 31 ,641 55 ,119 21 ,804 43 ,034 151 ,739 47 ,361 2 ,028 28 ,076 56 ,429 17 ,845 46,,510 159,,593 53 ,872 2 ,416 24,,985 62 ,458 15,,862 45 ,490 188 ,217 65 ,837 2 ,428 24 ,645 75 ,134 20 ,173 44 45 46 19 ,502 2 ,450 165 ,545 16 ,075 2 ,608 196 ,999 13 ,150 2 ,693 211 ,973 16 ,034 2 ,437 253 ,998 23 ,945 2,,929 285 ,883 47 48 49 121 ,855 68 ,949 52 ,906 124 ,810 70 ,257 54 ,553 121 ,062 62 ,754 58 ,308 115 ,911 52 ,647 63 ,264 50 51 272 ,367 22 ,709 212 ,964 25 ,039 133 ,602 29 ,122 155 ,563 29 ,690 - - - Data are In millions of dollars. - - Nonres. plant 8 equipment Land Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 11 12 13 14 15 16 otal assets 27 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 29 30 31 32 33 197,,675 699,,396 4,,529 Life insurance reserves Pension fund reserves Interbank claims, net 34 35 36 46 ,049 223 ,821 73 ,686 1 ,960 26 ,428 89 ,077 32 ,670 51,,788 265,,777 79 ,148 1,,950 26,,927 115,,914 41,,838 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 37 38 39 40 41 42 43 24 ,871 3 ,846 331,,343 24 ,907 4 ,739 382 ,242 25,,971 4,,997 424,,732 Security debt Taxes payable Miscellaneous liabilities 44 45 46 133,,556 60,,531 73 ,025 148 ,631 64 ,725 83 ,906 180 ,063 77 ,258 102,,805 212,,224 97,,660 114,,564 et worth 47 Approximate share stock cos. 48 Approximate share other cos. 49 208,,193 31,,387 191,,898 33,,985 198,,157 40,,040 231,,327 41,,502 50 51 April 1988 Private Financial Institutions 30 Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Private Financial Institutions 1 Tangible assets 2 Nonres. plant 8 equipment 3 Land 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 105 ,837 99 ,350 6 ,487 120 ,073 112 ,741 7 ,332 129 ,202 121 ,513 7 ,689 136 ,757 128 ,580 8 ,177 155 ,041 145 ,668 9 ,373 172 ,874 162 ,382 10 ,492 198 ,275 186 ,356 11 ,919 217 ,311 204 ,132 13 ,179 1 2 3 4030 ,489 4437 ,932 4869 ,333 5445 ,897 6144 ,243 7052 ,646 8088 ,484 8781 ,378 4 29 ,812 2 ,850 4 ,491 62 ,023 20 ,885 6 ,769 33 ,275 3 ,231 12 ,122 84 ,383 37 ,247 18 ,846 39 ,902 5 ,699 11 ,367 104 ,519 44 ,137 23 ,759 42 ,063 7 ,313 9 ,890 99 ,309 57 ,017 21 ,911 44 ,561 6 ,940 15 ,093 97 ,702 79 ,460 21 ,213 58 ,470 9 ,565 16 ,475 104 ,204 90 ,953 19 ,027 66 ,917 12 ,851 21 ,000 123 ,229 100 .710 22 ,168 404 ,100 3139 ,818 210 ,879 180 ,275 251 ,470 414 ,583 396 ,639 3455 ,473 241 ,922 224 ,145 263 ,267 443 ,550 476 ,729 3688 ,097 315 ,546 284 ,673 283 ,193 470 ,440 610 ,603 4083 ,512 375 ,089 353 ,928 296 ,645 513 ,937 618 .145 4642 ,116 439 ,787 400 ,145 316 ,783 580 ,057 797 ,785 5225 ,186 520 ,344 453 ,885 405 ,593 657 ,665 968 ,795 5950 ,712 610 ,630 624 ,295 441 ,779 775 ,348 1021 ,976 6534 ,034 661 ,045 779 ,164 422 ,894 897 ,337 11 12 13 14 15 16 60 ,475 5 12 ,747 6 22 ,727 7 155 ,776 8 104 ,144 9 21 ,612 10 17 18 19 20 21 22 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 1042 ,096 325 ,651 456 ,951 88 ,046 130 ,077 39 ,790 1093 ,205 342 ,191 509 ,235 138 ,286 148 ,588 51 ,084 1084 ,957 359 ,377 526 ,814 150 ,293 153 ,985 58 ,819 1181 ,362 407 ,781 556 ,473 162 ,071 170 ,554 65 ,672 1328 ,390 486 ,142 613 ,240 204 ,093 204 ,047 69 .432 1462 ,103 569 ,229 652 ,585 213 ,739 230 ,071 59 ,972 1598 ,714 630 ,059 718 ,756 243 ,866 252 ,863 54 ,402 1777 ,081 660 ,626 725 ,435 271 ,412 280 ,040 59 ,000 17 18 19 20 21 22 23 24 25 26 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 44 ,388 47 ,263 15 ,575 252 ,515 47 ,285 43 ,851 18 ,117 287 ,463 50 ,977 46 ,021 20 ,242 357 ,884 60 ,796 42 ,442 22 ,239 388,,802 63 ,548 46 ,057 25 ,000 484 ,408 90 ,660 54 ,168 27 ,190 558,,963 91 ,960 73 ,759 31 ,856 624 ,527 84 ,606 70 ,024 34 ,332 658 ,925 23 24 25 26 27 Total assets 4136 i ,326 4558 ,005 4998,,535 5582 ,654 6299 ,284 7225 ,520 8286 ,759 8998,,689 27 28 Total liabilities 38881,717 4313,,390 4751,.610 5315,,091 5990,.157 6862,,517 7872,.880 8574,,342 28 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 3501• 249 1147,.774 76,.362 316,,823 123,.250 367,,269 1195,.586 186,.158 378,.116 140,,885 394,.790 1334,,287 219,,837 395,,450 148, 983 422,,174 1550,.855 179,.393 382,,439 177, 619 459,.230 1701,,743 233,,554 469, 661 201,,305 526,,106 1843,,002 243,,802 487,,489 230,,695 640,.732 1963,.100 292,.109 492,.274 264,.062 628,,011 2032,,827 316,,095 543,,939 301,,592 34 35 36 Life insurance reserves Pension fund reserves Interbank claims, net 207,,364 839, 642 -27,,604 216,,308 910,,736 -68,,860 223, 279 1072, 671 -102. 506 231,,100 1266, 136 -102, 585 236,,066 1382,,690 -90. 927 246, 507 1642, 483 -69, 029 263,,728 1884,,822 -55, 239 279, 458 34 2114,,355 35 -8,,774 36 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 61, 808 286, 386 80, 765 1, 910 25, 909 128,839 48, 963 59, 841 340,,917 85, 172 1, 930 27, 102 161, 519 65. 194 76. 851 369. 080 97. 891 2. 043 28, 970 174, 175 66, 001 112,,121 400. 827 115. 489 2, 068 28,854 195, 463 58, 953 136, 679 477, 805 151, 661 2, 479 29, 518 219, 526 74, 621 240, 230 576, 921 200, 944 2, 668 32, 078 252, 396 88,835 413. 473 702. 083 269. 969 2. 747 36. 090 284, 632 108, 645 44 45 46 Security debt Taxes payable Miscellaneous liabilities 32, 002 3, 607 471, 054 34, 472 2, 043 549, 919 38, 096 1, 994 578, 798 41,879 2, 003 651, 130 47, 096 1,863 733, 392 69, 956 2, 044 822, 311 71, 357 1,843 938, 536 61, 552 44 2, 334 45 1021, 271 46 47 Net worth 48 Approximate share stock cos. 49 Approximate share other cos. 247, 609 121, 985 125, 624 244, 615 116, 951 127, 664 246, 925 116,840 130, 085 267, 563 128, 632 138, 931 309, 127 178,282 130,845 363, 003 208, 970 154, 033 413,879 235, 075 178,804 424, 347 47 224, 513 48 199,834 49 50 Market value of equities 51 Total fin. inst. real estate 259, 984 45,801 272, 455 50, 463 319, 396 51. 624 356, 976 54, 900 376, 481 61,444 521, 769 68, 781 564, 471 78, 137 465, 947 50 86, 395 51 Data are in millions of dollars. 455, 055 826, 627 332, 009 3, 075 35, 035 323, 450 133, 058 29 30 31 32 33 37 38 39 40 41 42 43 April 1988 National Net Worth National Net Worth 31 Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows 1950 1951 1952 1953 1954 Domestic investment flows: 1 2 3 69,,999 33,, 038 36,,961 61,,521 36,,113 25,,408 85,,849 39 ,458 46 ,391 90,,342 45,,663 44,,679 82,,782 49,,708 33,,074 8 7 ,600 53,,341 34,,259 86,166 57,591 28,575 4 5 3,,018 39,,979 1,,297 26,,705 - 2 ,249 44 ,142 656 45,,335 322 33,,396 -1,,728 321,531 -260 28,315 108,591 Purchase of physical assets 60,650 - Capital consumption 47,941 = Net capital formation 26 + Net foreign investment 47,967 = Net investment flows by domestic sectors 1 2 3 4 5 Adjustments for tangible assets: 20,087 8,683 768 4,168 38,869 21,746 -1 9 10 32,535 17,972 11,096 8,489 2,052 7,684 2,637 15,143 -3 -2 -24 -86 11 -144 -21 3 120 255 -55 483 12 15 -18 24 76 60 -51 256 31,615 Revaluations of reproducible 20,998 tangible assets 17,214 Change in land values Less: Adjustments of capital consumption -1 to Balance Sheet basis Adjustments to net foreign investment: 678 Reval. of net foreign claims Reval. of SDR holdings Foreign purchases of 127 U.S. corporate equities - U.S. purchases of 173 foreign equities = Net change in consolidated domestic net worth 44,115 86,812 By sector: 86,,812 Total, all sectors 6 7 8 9 10 11 12 13 14 69,,405 31,,615 106 ,268 95 ,046 53 .658 44 ,115 46 ,239 15 16 17 18 19 20 21 61,,231 70,,530 39,,792 1,,852 8,,505 19,,174 1,,207 34 ,928 53 ,593 33,,790 - 2 ,979 11,,175 10,,273 1,,334 98 ,487 151 ,031 96 ,781 20 ,027 8 ,628 23 ,148 2 ,447 95 ,136 140 ,290 91 ,814 12 ,170 10 ,498 24 ,065 1 ,743 60 ,938 73 ,103 58 ,459 579 - 2 ,591 15 ,612 2 ,202 51 ,092 46 ,428 27,,007 -1,,754 4,,122 15,,130 1,,923 55 • 197 136 ,420 110 ,883 2 ,021 3 ,914 14 ,576 5 ,026 22 23 24 10,,227 4,,781 5,,446 8,,405 679 7 ,726 27 ,253 4 ,356 22 ,897 21 ,816 1 ,807 20 ,009 - 3 ,130 166 - 3 ,296 2,,491 -134 2 ,625 5 ,794 -1 ,841 7 ,635 11,,397 -1,,924 13,,321 Proprietors' net invest. Revaluation of equity 23 24 25 26 27 -1,,216 880 -2,,096 7 ,754 368 7,,386 23,,944 438 23 ,506 22 ,493 1 ,529 20,,964 13,,686 857 12,,829 - 8 ,230 676 -8,,906 70,,642 -45 70,,687 49,,545 175 49,,370 Net purchases Revaluation 25 26 27 28 29 30 288 361 -73 2,,506 878 1,,628 1,,347 989 358 845 725 120 1,,609 1,,443 166 1,,075 1,,296 -221 4,,787 1,,735 3,,052 6,,416 1,,642 4,,774 Net purchases Revaluation 28 29 30 31 32 33 34 35 7,,604 -1,,048 8,,644 8 - 5 ,324 -1,,764 -3,,573 13 5,,273 -1,,991 7,,238 26 4,,180 -1,,300 5,,459 21 -7,,028 -2,,185 -4,,874 31 -8,,440 -2,,026 -6,,431 17 -9,,363 -3,,904 -5,,473 14 + Ch 572 -4,,243 3, 653 18 36 37 38 1,,249 54 -733 -765 2,,218 558 -799 1,,028 2,,279 -2,,682 -2,,989 1,,401 -1,,764 -68 1,,580 -2,,410 1,,231 2, 642 -2,,658 819 2,,244 -1, 804 3,-124 2, 111 39 754,,382 785,,997 892,,265 987 ,311 1040,,969 1085,,084 1131,,323 371,336 372,493 ~ " 260,363 Data are In millions of dollars. 83,,953 Private sectors, consolidated 151,,311 Sector basis, total 108,,776 Households 3,,184 Farm business 8,,436 Nonfarm noncorp. business 27,,193 Nonfinancial corp. business 3,,722 Private finan. institutions 1218,> 135 public sectors State a local governments U.S. government Sponsored credit agencies Monetary authority 14 15 16 17 18 19 20 21 31 32 33 34 35 + Other adjustments: Nonfinancial discrepancy 36 Unallocated financial flows 37 Unallocated revaluations 38 Total domestic net assets at year end 405,906 Memo: Gross National Product 39 40 April 1988 National Met Worth 32 National Net Worth Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows Domestic Investment flows; 1 Purchase of physical assets 2 - Capital consumption 3 = Net capital formation 4 + Net foreign investment 5 = Net investment flows 110 ,864 67 ,517 431,347 110,,741 72 ,918 37,,823 100,,673 76,,260 24,,413 122,,980 79,,780 43 ,200 121,,645 82,,586 39,,059 119 ,017 85 ,200 33 ,817 134 ,670 87 ,799 46,,871 144,,905 91,,280 53,,625 1 2 3 -1 ,323 42,,024 4 ,569 42,,392 356 24,,769 -1.,878 41,,322 1,,806 40,,865 2 ,832 36 ,649 2,,264 49,,135 4,,053 57,,678 4 5 8.614 21.037 8.775 23.287 4.400 20.330 -2.977 21.842 -1.549 19.318 96 13.739 -5.974 16.434 -1 1 207 786 Adjustments for tangible assets: Revaluations of reproducible 6 tangible assets 35.166 7 Change in land values 28.977 Less: Adjustments of capital consumption 8 to Balance Sheet basis Adjustments to net foreign investment: 9 Reval. of net foreign claims 4, 10 Reval. of SDR holdings Foreign purchases of 11 U.S. corporate equities - U.S. purchases of 12 foreign equities 13 = Net change in consolidated domestic net worth -465 9 10 256 147 -54 351 203 323 109 225 11 111 35 332 195 663 762 969 1 ,105 12 62 ,657 66 ,796 13 111 .256 72 ,275 56 .653 66 ,993 58 .851 54 ,665 By sector: 14 Total. all sectors 111 .256 72 ,275 56 ,653 66 ,993 58 .851 54 ,665 15 Private sectors, consolidated 16 Sector basis, total 17 Households 18 Farm business 19 Nonfarm noncorp. business 20 Nonfinancial corp. business 21 Private finan. institutions 111 .096 149 .046 92 .391 7 .093 11 .966 34 .960 2 ,636 74 ,902 49 ,840 10 ,283 6 ,768 6 ,432 24 ,763 1 ,594 73 ,444 201 ,057 164 ,276 9 ,240 6 ,787 15 ,291 5 ,463 73 ,332 114 ,528 81 ,792 3 ,654 5 ,422 20 ,291 3 ,369 61 .407 63 .476 45 .972 1 .150 5 .136 7 ,760 3 ,458 63 , 151 187 .998 157 ,644 4 ,858 5 ,687 12 ,754 7 ,055 22 - Change in eq.in noncorp.bus. 23 Proprietors' net invest. 24 Revaluation of equity 18 ,562 ,280 19 ,842 12 ,727 -913 13 ,640 15 ,380 222 15,,158 8 ,820 - 2 ,568 11,,388 6 ,206 - 2 ,504 8 ,710 10 ,204 448 9 ,756 10 ,919 196 10 ,723 11 ,637 22 1 ,637 23 10 ,000 24 25 - Change in HH corp. equities 26 Net purchases 27 Revaluation 17 ,586 936 16 ,650 -37,,373 474 -37,,847 101,,402 -49 101,,451 26,,103 -1,,158 27,,261 - 7 ,742 - 1 ,390 - 6 ,352 99 ,497 -1,,410 100,,907 -61,,745 -2,,736 -59,,009 72 ,511 25 -3,,018 26 75,,529 27 28 - Change/fin.inst.corp.shares 29 Net purchases 30 Revaluation 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,,490 4,,205 -7,,695 12,,733 28 3,,896 29 8,,837 30 934 -3,,363 41,284 13 -2,,832 -4,,328 1,,458 38 -15,,910 -4,,797 -11,,148 35 — 6,,710 -3,,659 -3, 081 30 -1,,494 -3,,223 1,,698 31 -9,,728 -4,,068 -5,,706 46 -8,,172 -3, 292 -4, 935 55 -3,,628 -2,,019 -1, 668 59 1,,895 -4,,520 1,,851 1. 172 146 -1, 113 219 -809 291 1, 545 652 -1,826 a,,807 - i , 446 -2,,423 1, 209 105 -72 -67 -1, 424 36 605 36 598 37 519 38 1329,,391 1401, 666 1458, 319 1525, 312 1584, 163 1638,828 1701, 485 1768, 281 39 31 32 33 34 35 Change in net finan. assets of public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 36 37 38 • Other adjustments: Nonfinancial discrepancy Unallocated financial flows Unallocated revaluations 39 Total domestic net assets at year end 40 Memo: Gross National Product Data are in millions of dollars. 515,323 62 ,657 72 .284 17 ,968 -10 ,426 4 ,200 7 ,013 13 ,869 3,,312 66 ,796 14 69 .740 166 ,621 136 ,326 5 ,774 6 ,267 14 ,067 4 ,187 15 16 17 18 19 20 21 31 32 33 34 35 606.898 40 April 1988 National Net Worth National Net Worth Stock-Flow Reconciliation for Consolidated Domestic Net Assets 33 Annual Flows Annual Flows Domestic investment flows: 1 2 3 156,• 473 95 ,666 60,,807 179,,610 100,,628 78,,982 197..135 107, 489 89,, 646 196,,314 116,,768 79,,546 218,,006 127,,999 90,,007 239,,444 141,,450 97,,994 234,,465 154 ,577 79,,888 4 5 5,,916 66,,723 4,,973 83 ,955 3,,660 93,,306 2,,379 81,,925 1,,049 91,,056 -1,,118 96,,876 2 ,980 82 ,868 270,,070 Purchase of physical assets 169,,383 - Capital consumption 100,,687 = Net capital formation -10,,496 + Net foreign investment 90,,191 = Net investment flows by domestic sectors Adjustments for tangible assets: Revaluations of reproducible 111,737 tangible assets 38,621 Change in land values Less: Adjustments of capital consumption -2 to Balance Sheet basis 6 7 12,863 22,045 11,915 22,907 45,466 40,466 36,010 17,411 95,372 24,422 91,792 24,510 8 -2 -2 -2 -2 -4 -1 9 1 2,242 0 613 - 1,115 - 11 -292 -400 -305 698 2,097 1,565 697 12 678 759 720 1,308 1,569 1,549 1,076 13 102,905 118,338 179,164 135,351 212,497 214,948 176,954 236,651 14 102,,905 118,,338 179,,164 135,,351 212,,497 214 ,948 176 ,954 By sector: 236,,651 Total, all sectors 15 16 17 18 19 20 21 109,,073 184,,733 138,,898 6,,601 9,,708 22 ,997 6 ,529 119 ,552 220,,837 163 ,495 12,,822 9 ,346 29 ,882 5 ,292 179,,094 142,,306 73,,043 7,,731 19,,991 40,,220 1,,321 154 ,400 334 ,584 272 ,987 10 ,290 7 ,368 37 ,145 6 ,794 223,,374 407,,626 321,,453 11,,060 20,,558 45 ,820 8 ,735 207 ,570 121:,409 37 ,615 8 ,577 18 ,105 58 ,628 - 1 ,516 190 ,564 200,,680 130 ,169 5 ,483 12 ,445 53 ,840 - 1 ,257 267,,301 Private sectors, consolidated 448 ,494 Sector basis, total 325,,477 Households 18,,792 Farm business 22,,951 Nonfarm noncorp. business 70,,175 Nonfinancial corp. business 11,,099 Private finan. institutions 15 16 17 18 19 20 21 22 23 24 15,,847 -616 16,,463 21 ,271 374 20 ,897 27,,180 -743 27,,923 16,,938 -907 17 ,845 30,,844 -1,,892 32,,736 26 ,082 - 4 ,415 30 ,497 17 ,544 - 5 ,540 23 ,084 40,,427 - Change in eq.in noncorp.bus -3,,611 Proprietors' net invest. 44,,038 Revaluation of equity 23 24 25 26 27 46,,996 -1,,626 48,,622 64 ,803 - 4 ,862 69 ,665 -59,,573 -3,,348 -56,,225 135 ,399 - 5 ,924 141 ,323 130,,619 -10,,488 141,,107 -107 ,827 - 6 ,757 -101 ,070 -16 ,459 - 2 ,645 -13 ,814 95,,308 - Change in HH corp. equities Net purchases - 5 ,249 100,,557 Revaluation 25 26 27 28 29 30 12 ,817 3,,913 8 ,904 15 ,211 6 ,020 9 ,191 -4,,395 5,,708 -10,,103 27 ,847 9 ,011 18 ,836 22,,789 10,,782 12,,007 - 4 ,416 11 ,830 -16 ,246 9 ,031 10 ,947 -1 ,916 45,,458 - Change/fin.Inst.corp.shares 19,,587 Net purchases 25,,871 Revaluation 28 29 30 31 32 33 34 3 -6,912 -3,042 -3,919 49 — -3,622 -2,905 -772 55 — -4,621 -2,463 -2,204 46 — -18,288 -4,803 -13,527 42 — -14,523 -5,114 -9,424 15 — -3,776 -9,997 6,186 35 — -16,467 -4,674 -11,810 17 — + Change in net finan. assets of -33,085 public sectors -10,051 State 8 local governments -23,129 U.S. government 95 Sponsored credit agencies — Monetary authority 31 32 33 34 35 36 37 38 1,395 -675 24 1,241 1,485 -318 -2,104 159 6,636 376 -874 -263 1*121 3,287 -762 3,896 9,624 -2,366 239 5,204 -2,586 39 1871,186 1989,524 2168,688 2304,039 40 649,774 705,099 771,982 816,382 5 718 - 949 - - Data are in millions of dollars. 77,387 18,106 - 1,753 - -1,028 - Adjustments to net foreign investment: -3,623 Reval. of net foreign claims Reval. of SDR holdings - Foreign purchases of 836 U.S. corporate equities - U.S. purchases of 1,113 foreign equities -2,958 5,304 89 * Net change in consolidated domestic net worth Other adjustments: Nonfinancial discrepancy 36 Unallocated financial flows 37 Unallocated revaluations 38 Total domestic net assets at year end 963,946 1015,458 9 10 1102,684 Memo: Gross National Product 39 40 April 1988 National Net Worth 34 National Net Worth Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows Domestic investment flows: 1 Purchase of physical assets 2 - Capital consumption 3 = Net capital formation 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,,351 528 ,552 332 ,704 195 ,848 622,,423 376,,700 245,,723 673,,799 430,,714 243,,085 1 2 3 4 + Net foreign investment 5 = Net investment flows by domestic sectors - 6 ,962 121 ,896 4,,486 166 ,439 -7,,497 125,,786 24 ,034 110,,166 14,,751 156,,102 - 1 6 ,532 179 ,316 -2,,467 243,,256 25,,898 268,,983 4 5 220,722 128,318 428,321 111,029 220,592 95,006 257,879 176,717 358,044 207,617 545,636 294,635 520,058 329,440 -1,229 1,382 8,891 36 -413 -158 1,605 -19 -3,262 116 1,747 65 -2,250 9 -534 10 Adjustments for tangible assets: Revaluations of reproducible 6 tangible assets 116,625 7 Change in land values 71,546 Less: Adjustments of capital consumption 8 to Balance Sheet basis Adjustments to net foreign investment: 9 Reval. of net foreign claims 850 10 Reval. of SDR holdings 983 Foreign purchases of 11 U.S. corporate equities - U.S. purchases of 12 foreign equities 2,434 2,763 539 4,667 2,753 2,675 2,422 1,659 11 619 672 -519 -921 355 408 -351 1,025 12 = Net change in consolidated 13 domestic net worth 313,,715 517, 726 675, 122 430, 782 594, 685 744,,099 1088,,113 1116,,333 13 By sector: 14 Total, all sectors 313,,715 517,,726 675,,122 430,,782 594,,685 744,,099 1088,,113 1116,,333 14 15 Private sectors, consolidated 16 Sector basis, total 17 Households 18 Farm business 19 Nonfarm noncorp. business 20 NonfInancial corp. business 21 Private finan. institutions 331,,437 523,,082 371,,243 35,,663 32,,330 74,,273 9,,573 515,,045 408,,411 159,,231 77,,104 52,,827 116,,294 2,,955 716,,949 573,,683 197,,914 39,,218 70,,682 269,,617 -3,,748 503,,506 787,,804 553,,909 50,,482 40,,667 147,,897 -5,,151 644,,377 924,,812 624,,061 71,,521 65,,589 145,,996 17,,645 784,,865 881,,685 550,,629 50,,103 102,,497 163,,381 15,,075 1108,,813 1389 ,222 846,,757 105,,577 152,,014 253,,442 31,,432 1150,,437 1624,,982 1024,,367 106,,823 184,,423 277,,208 32,,161 22 - Change in eq.in noncorp.bus. 23 Proprietors' net invest. 24 Revaluation of equity 65,,497 -7,,573 73,,070 124,,534 -6,,869 131,,403 107,,154 ,527 —14 1 121,,681 87,,616 -13,,818 101,,434 132,,103 -23,,263 155,,366 149,,093 -27,,308 176,,401 250,,201 -29,,770 279,,971 283,,768 22 -44,,016 23 327,,784 24 25 - Change in HH corp. equities 26 Net purchases 27 Revaluation 84 ,026 - 8 ,008 92 ,034 -198,,425 -2,,466 -195,,959 -203,,697 107 -203,,804 138,,747 -3,,528 142,,275 111,,989 493 111,,496 -44,,338 -7,,772 -36,,566 -4,,149 -13 ,054 8 ,905 150,,507 25 -22,,653 26 173,,160 27 28 - Change/fin.inst.corp.shares 29 Net purchases 30 Revaluation 42 ,122 21 ,527 20 ,595 -32 ,743 11 ,696 -44 ,439 -46 ,723 4 ,974 -51 ,697 57 ,935 11,,691 46 ,244 36 ,343 11 ,490 24 ,853 - 7 ,935 10,,944 -18,,879 34 ,357 12 ,322 22 ,035 40 ,270 28 16 ,795 29 23 ,475 30 - 1 7 ,436 134 - 1 7 ,716 146 - 3 ,682 3 ,162 - 7 ,105 -16 ,904 - 5 ,235 -12 ,137 - 8 2 ,161 - 7 ,496 -74 ,936 271 -56 ,417 1 ,554 -58 ,302 -39 ,740 15 ,814 - 5 5 ,909 — 36',610 2 ,350 -39 ,480 1,204 -3,013 1,523 4,303 2,801 -741 9,730 -4,132 -30,521 -2,490 7,736 4,191 -3,601 13,207 -2.881 8 -657 -377 1,896 19,613 -5,599 Total domestic net assets 39 at year end 3976,530 4651,652 5082,434 5677,119 6421,218 8625,664 39 40 Memo: 1359,316 1472,807 1598,426 1782,792 1990,504 2508,170 40 31 32 33 34 35 36 37 38 + Change in net finan. assets of public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority + Other adjustments: NonfInancial discrepancy Unallocated financial flows Unallocated revaluations Gross National Product Data are in millions of dollars. -30 ,190 -5 ,084 -25 ,662 556 - 15 16 17 18 19 20 21 31 32 33 34 35 -164 36 -2,668 37 -1,082 38 April 1988 National Net Worth National Net Worth 35 Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows 1982 1983 1984 1985 1986 1987 Domestic investment flows: 656,250 491,212 165,038 755,387 550,352 205,035 699,925 598,553 101,372 791,400 622,974 168,426 1000,400 652,188 348,212 1010,300 692,172 318,128 1073,375 731,700 341,675 1130,400 Purchase of physical assets 778,345 - Capital consumption 352,055 = Net capital formation 1 2 3 31,233 196,271 27,395 232,430 30,834 132,206 -28,350 140,076 -71,703 276,509 -105,374 212,754 -127,540 214,135 -154,614 • Net foreign investment 197,441 = Net investment flows by domestic sectors 4 5 Adjustments for tangible assets: 611,437 305,663 540,896 279,171 64,954 53,487 233,469 169,459 177,248 58,631 103,938 71,043 212,570 217,429 9 10 -15,151 -142 4,037 -347 -21,532 -220 -19,754 -317 -1,833 -388 10,570 749 -1,868 11 5,357 5,761 3,904 5,410 -2,981 4,969 17,757 12 2,366 213 1,370 3,683 944 3,689 741 830 Revaluations of reproducible 311,427 tangible assets 255,440 Change in land values Less: Adjustments of capital consumption -108 to Balance Sheet basis 8 Adjustments to net foreign investment: 4,485 Reval. of net foreign claims 1,497 Reval. of SDR holdings 9 10 Foreign purchases of 15,952 U.S. corporate equities - U.S. purchases of -2,437 foreign equities 6 7 11 12 13 1101,,070 1061,,737 231,,416 524,,633 506,,231 400,,302 660,,126 = Net change in consolidated 788,,787 domestic net worth 14 1101,• 070 1061,,737 231,,416 524,,633 506,,231 400,,302 660,,126 By sector: 788,,787 Total. all sectors 15 16 17 18 19 20 21 1197,,289 1855,,869 1191,,190 81,,082 206 ,693 341 ,519 35,,385 1101,,348 1242,,470 734,,094 -16,,052 223,,285 304,,137 -2,,994 407,,120 633,,439 517,,817 -47,,262 66,,069 94,,505 2,,310 730,,267 1046,,256 892,,224 — 14,,491 48 ,635 99 ,250 20 ,638 728,,992 697,,050 606,,785 -107,,678 66 ,723 89,,656 41,,564 617,,465 1134,,777 1072,,051 -86 ,688 64,,781 30,,757 53,,876 889,,379 1223,,830 1120,,948 -45 ,546 56,,368 41,,184 50,,876 961,,458 Private sectors, consolidated 1007,,204 Sector basis, total 820,,926 Households 98,,136 Farm business 5,,948 Nonfarm noncorp. business Nonfinancial corp. business 71,,726 10,,468 Private finan. institutions 15 16 17 18 19 20 21 22 23 24 282 ,099 -49 ,120 331 ,219 208,,357 -28 ,779 237 ,136 22,,115 -45 ,257 67 ,372 35 ,159 -89 ,474 124 ,633 -33,,418 -72 ,780 39 ,362 -15,,839 —65,,781 49,,942 14,,010 -85 ,153 99 ,163 97,,215 - Change in eq.in noncorp.bus -97,,331 Proprietors' net invest. 194,,546 Revaluation of equity 23 24 25 26 27 299 ,219 -11 ,954 311 ,173 -62 ,438 -45 ,264 -17 ,174 125,,621 -12,,134 137 ,755 149 ,524 -19 ,894 169 ,418 -3,,918 -79 ,962 76 ,044 366 ,395 -102 ,749 469 ,144 157 ,746 -132 ,773 290,,519 -97,,150 - Change in HH corp. equities -129,,374 Net purchases 32,,224 Revaluation 25 26 27 28 29 30 77 ,262 23 ,521 53 ,741 -4 ,797 30 ,278 -35 ,075 78 ,583 25 ,223 53 ,360 131 ,306 49 ,079 82 ,227 5 ,394 17 ,194 -11 ,800 166 ,756 31 ,974 134 ,782 162 ,695 43 ,308 119 ,387 45,,681 - Change/fin.Inst.corp.shares 39,,613 Net purchases Revaluation 6,,068 28 31 32 33 34 35 -74,478 -8,559 —66,256 337 -77,279 -243 -77,534 498 -154,698 -2,283 -153,722 1,307 -187,732 2,788 -191,387 867 -169,923 18,081 -188,871 867 -194,208 19,403 -212,168 -1,443 -215,947 13,213 -228,727 -433 • Change in net finan. assets of -191,819 public sectors -8,910 State 8 local governments -183,333 U.S. government 424 Sponsored credit agencies Monetary authority 36 37 38 —6 * 075 -11,223 -4,443 -5,216 31,207 11,677 75 -15,489 -5,592 -5,325 —4,036 -8,541 -5,400 -13,235 -34,203 5,525 -13,335 -15,145 4,925 2,875 -21,106 6,850 -2,533 14,831 13111,179 13899,966 39 9726,734 10788,471 11019,887 11544,520 12050,751 12451,053 40 2731,947 3052,632 3165,950 3405,800 3772,200 4010,350 Data are in millions of dollars. 29 30 31 32 33 34 35 • Other adjustments: Nonfinancial discrepancy 36 Unallocated financial flows 37 Unallocated revaluations 38 Total domestic net assets at year end 4487,674 Memo: Gross National Product 39 40 April 1988 Tangible Asset Holdings 36 Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1948 1949 1950 1951 1952 1953 1954 69 ,999 36 ,223 6 ,042 6 ,729 20 ,652 353 61 ,521 38 ,054 3 ,662 4 ,546 14 ,902 357 85 ,849 47 ,761 5 ,309 8 ,358 24 ,027 394 90 ,342 47 ,499 5 ,778 6 ,080 30 ,554 431 82 ,782 46 ,779 3 ,571 6 ,460 25 ,416 556 87 ,600 51 ,646 1 ,445 7 ,842 26 ,235 432 86 ,166 51 ,995 2 ,442 7 ,812 23 ,264 653 7 Capital consumption 8 Households 9 Farm business Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Private finan. insts. 12 33 ,038 16 ,083 1 ,817 4 ,454 10 ,424 260 36 ,113 17 ,853 2 ,069 4 ,716 11 ,204 271 39 ,458 19 ,848 2 ,305 4 ,999 12 ,023 283 45 ,663 23 ,139 2 ,671 5 ,695 13 ,833 325 49 ,708 25 ,582 2 ,925 6 ,009 14 ,840 352 53 ,341 27 ,777 3 ,082 6 ,255 15 ,852 375 57 ,591 30 ,763 3 ,192 6 ,462 16 ,765 409 60 ,650 7 32 ,353 8 3 ,300 9 6 ,778 10 17 ,785 11 434 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business Nonfinancial corp. bus. 17 18 Private finan. insts. 36 ,961 20 ,140 4 ,225 2 ,275 10 ,228 93 25 ,408 20 ,201 1 ,593 -170 3 ,698 86 46 ,391 27 ,913 3 ,004 3 ,359 12 ,004 111 44 ,679 24 ,360 3 ,107 385 16 ,721 106 33 ,074 21 ,197 646 451 10 ,576 204 34 ,259 23 ,869 - 1 ,637 1 ,587 10 ,383 57 28 ,575 21 ,232 -750 1 ,350 6 ,499 244 47 ,941 31 ,065 -949 2 ,748 14 ,764 313 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 3 ,018 1 ,297 - 2 ,249 656 322 - 1 ,728 -260 - 4 ,705 5 ,597 - 4 ,184 - 2 ,275 - 4 ,814 971 4 ,290 1 ,780 -1 ,570 170 3 ,070 840 - 8 ,567 3 ,758 - 2 ,971 - 3 ,359 - 7 ,647 1 ,652 -554 10 ,928 - 3 ,108 -385 - 8 ,824 835 7 ,419 10 ,361 -677 -451 -3,,462 1 ,648 6 ,819 9 ,333 1 ,586 -1 ,587 - 3 ,994 1 ,481 8 ,240 6 ,818 737 -1 ,350 -798 2 ,833 - 2 ,842 4 ,509 916 - 2 ,748 — 6 ,915 1 ,396 20 21 22 23 24 25 26 27 28 29 30 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 -256 —4 ,243 3 ,937 18 32 26 27 28 29 30 54 2 ,218 1 ,028 - 2 ,989 -68 1 ,231 819 32 Reval. of physical assets 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 20,,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 ,869 14 ,266 6 ,514 3 ,396 9,,508 - 4 ,965 220 32 ,535 12,,101 2,,795 7,,152 8,,975 -1,,199 313 11,,096 14,,197 -565 -4,-945 3,-465 1,-000 -56 2 ,052 - 2 ,068 1 ,087 185 1 ,641 - 1 ,000 207 2,,637 -259 564 788 1,,231 -300 13 20,,998 2,,987 1,,211 4,,253 10,,438 -1,,750 359 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures Plant and equipment 41 Inventories 42 Consumer durables 43 20,,087 9,,953 9,,188 537 409 768 3,,696 2,,811 - 4 ,963 -776 38 ,869 11,,609 12,,865 12,,239 2,,156 32,,535 12,,263 13,,364 2,,447 4,,461 11,-096 7,,989 5,-118 -3,-892 5,-905 2,,052 768 1,,917 633 -1,,266 2,,637 4,,256 1,,952 -695 -2,-876 20,-998 8,,151 13,-706 1,-576 -2,-435 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business Nonfarm noncorp. business 47 48 Nonfinancial corp. business 49 Private finan. insts. 8,,683 3,,147 800 21,248 2, 455 33 4,,168 911 -1,,830 3,,134 1,,940 13 21,,746 4 ,582 11,,904 2,,275 2,,932 53 17,,972 3,,801 7,• 830 2,-894 3,,381 66 8, 489 3, 464 393 1, 616 2, 983 33 7,,684 2,,540 -1,,386 2,,467 3,-987 76 15,-143 3, 478 3,-225 3, 010 5, 306 124 17, 214 4, 514 4, 562 3, 345 4, 642 151 44 45 46 47 48 49 50 Adj. to capital consumption 51 Households 52 Farm business Nonfarm noncorp. business 53 54 Nonfinancial corp. business 55 Private finan. insts. 167 74 •241 -1 170 81 252 -1 206 125 331 -1 - 198 112 •311 2 -1 -3 200 118 -320 -1 - 195 105 -301 2 -1 50 51 52 53 54 55 1 Purchases of physical assets Households 2 3 Farm business 4 Nonfarm noncorp. business Nonfinancial corp. bus. 5 6 Private finan. insts. 20 21 22 23 24 25 31 56 57 58 59 60 61 62 63 64 65 66 67 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows Memo: Total gross domestic investment, Flow of Funds basis 72, 963 Private sectors 65, 294 Households 41, 820 Farm business 1,858 Nonfarm noncorp. business 4, 454 Nonfinancial corp. busines 15,838 Private finan. institution 1, 324 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. 7, 669 -1, 048 8, 657 8 52 176 87 -262 -1 - -2 189 98 289 - 1955 108 ,591 63 ,418 2 ,351 9 ,526 32 ,549 747 1 2 3 4 5 6 13 14 15 16 17 18 26 19 3,,124 31 - 60, 600 65,811 39,834 2, 092 4, 716 17, 972 1, 197 82, 572 77, 282 51, 519 2, 338 4, 999 16. 380 2, 046 93, 987 89, 788 58, 427 2, 670 5, 695 21, 730 1, 266 83, 172 90, 201 57, 140 2,894 6, 009 21, 954 2, 204 84, 641 94, 419 60, 979 3, 031 6, 255 22, 241 1, 913 85, 087 94, 406 58,813 3, 179 6,462 22, 466 3,486 105,493 105, 749 67, 927 3,267 6, 778 25, 634 2, 143 56 57 58 59 60 61 62 -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 37 256 - 4 ,243 3, 937 18 32 63 64 65 66 67 April 1988 Tangible Asset Holdings Tangible Asset Holdings 37 Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1 2 5 4 5 6 110,864 62,447 3,304 7,183 37,178 752 110, 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, 359 3, 548 10, 086 37,845 807 119, 017 66, 145 3, 711 11, 667 36, 466 1, 028 134, 670 72, 481 4, 168 13,274 43, 765 982 144, 905 Purchases of physical assets Households 79, 017 Farm business 4, 637 Nonfarm noncorp. business 15, 332 Nonfinancial corp. bus. 44, 573 Private finan. insts. 1, 346 1 2 3 4 5 6 7 8 9 10 11 12 67,517 36,142 3,485 7,355 20,032 503 72, 918 38, 934 3, 599 7, 784 22, 048 553 76, 260 40, 980 3, 659 7, 986 23, 059 576 79, 780 43, 078 3, 732 8, 226 24, 135 609 82, 586 44, 591 3, 740 8 , 469 25, 134 652 85, 200 46, 264 3, 734 8, 635 25, 882 685 87, 799 47, 620 3, 762 8, 864 26, 827 726 91. 280 Capital consumption Households 49, 522 3,807 Farm business Nonfarm noncorp. business 9, 155 28, 002 Nonfinancial corp. bus. 794 Private finan. insts. 7 8 9 10 11 12 13 14 15 16 17 18 43,347 26,305 -181 -172 17,146 249 37,823 23, 156 - 1 , 091 1, 765 13, 683 310 24, 413 18, 174 467 743 4, 739 290 43, 200 26, 316 -19 2, 664 13,825 414 39, 059 24, 768 -192 1, 617 12, 711 155 33,817 19,881 -23 3, 032 10, 584 343 46, 871 24, 861 406 4, 410 16, 938 256 53, 625 Net capital formation Households 29, 495 Farm business 830 6, 177 Nonfarm noncorp. business Nonfinancial corp. bus. 16, 571 Private finan. insts. 552 13 14 15 16 17 18 19 -1,323 4, 569 356 -1.878 1,806 2, 832 2,,264 20 21 22 23 24 25 2,578 12,125 138 172 -11,218 1,361 7. 116 13,862 1, 040 -1. 765 -7, 313 1, 292 16, 981 16, 762 499 -743 -824 2, 285 4. 229 11, 478 -18 -2, 664 —61,162 1, 595 4, 946 12, 993 157 -1, 617 -9, 042 2, 455 12, 352 17,,436 -6 -3,,032 -4,,864 2.,818 11.,931 18, 173 -407 -4,,410 -4.,614 3,,189 4, 053 Net foreign investment Net financial investment: Private sectors 6. 867 Households 18,,826 Farm business -947 Nonfarm noncorp. business -6,,177 Nonfinancial corp. bus. -5.,786 951 Private finan. insts. 20 21 22 23 24 25 26 27 28 29 30 619 -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 30 -192 -1,,694 -3, 223 1,,469 31 29 -9.> 625 -4,>068 -5,,670 46 67 -8.,243 -3,,292 -5,,052 55 46 -3.,412 -2,,019 -1,,507 59 55 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 31 -4,520 146 -809 652 -1,,446 105 - 1 ,424 598 32 33 34 35 36 37 38 35,166 8,344 1,532 6,419 15,717 -2,675 479 8 ,614 - 3 ,888 2 ,858 1 ,459 6 ,518 - 1 ,525 142 8,,775 3 ,423 1 ,413 1 ,740 1,,888 -250 61 4i ,400 -1,,147 252 1,,056 3 ,849 -277 113 -2.,977 -3,,952 1 ,524 649 -1,,651 -173 280 - 1 ,549 - 1 ,596 1 ,027 -461 363 271 115 96 - 2 ,888 ,884 1 1 ,091 -541 26 576 -5,,974 Reval. of physical assets Households - 6 ,719 Farm business 710 Nonfarm noncorp. business - 1 ,858 Nonfinancial corp. bus. 1 ,783 54 - Inventory valuation adj. Private finan. insts. 164 32 33 34 35 36 37 38 39 40 41 42 43 35,166 4,878 20,356 4,151 5,781 8 ,614 1 ,224 8 ,803 2 ,178 - 3 ,591 8 ,775 2 ,785 2 ,416 1 ,518 2 ,056 4 ,400 1 ,042 4 ,274 -304 -612 - 2 ,977 905 -1.,991 734 - 2 ,625 - 1 ,549 548 -49 -728 - 1 ,320 96 355 2 ,398 459 - 3 ,116 - 5 ,974 Revaluations by type of asset Residential structures - 7 ,506 Plant and equipment 2 ,976 Inventories -56 Consumer durables ,388 -1 39 40 41 42 43 44 45 46 47 48 49 28,977 9,173 6,926 5,293 7,382 203 21 ,037 3 ,641 6 ,473 3 ,154 7 ,559 210 23 ,287 3 ,865 8 ,955 3 ,505 6 ,744 218 20 ,330 4 ,190 6 ,546 3 ,590 5 ,787 217 21 ,842 10 ,114 1 ,520 4 ,895 5 ,097 216 19 ,318 4 ,111 5 ,651 3 ,663 5 ,622 271 13 ,739 3 ,816 4 ,272 3 ,514 1 ,916 221 16 ,434 Change in land values Households 2 ,883 Farm business 7 ,889 Nonfarm noncorp. business 3 ,507 Nonfinancial corp. business 1 ,973 Private finan. insts. 182 44 45 46 47 48 49 50 51 52 53 54 55 214 139 -352 -1 -3 218 147 -369 2 -1 -1 222 157 -380 1 229 168 -396 -3 244 183 -430 -1 256 192 -448 - 3 Adj. to capital consumption Households 270 Farm business 203 Nonfarm noncorp. business -475 Nonfinancial corp. business Private finan. insts. -1 50 51 52 53 54 55 56 57 58 59 60 61 62 114,061 113,442 74,572 3,442 7,355 25,960 2,113 115 ,164 117 ,857 75 ,952 3 ,548 7 ,784 28 ,418 2 ,155 101 ,838 117 ,654 75 ,916 3 ,627 7 ,986 26 ,974 3 ,151 120 ,450 127 ,209 80 ,872 3 ,695 8 ,226 31 .798 2 ,618 124 ,897 126 ,591 82 ,352 3 ,705 8 ,469 28 ,803 3 ,262 121 ,744 131 ,369 83 ,581 3 ,705 8 ,635 31 ,602 3 ,846 138 ,358 146 ,601 90 ,654 3 ,761 8 ,864 39 ,151 4 ,171 63 64 65 66 67 619 -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 30 -192 - 1 ,694 - 3 ,223 1 ,469 31 29 - 9 ,625 - 4 ,068 - 5 ,670 46 67 - 8 ,243 - 3 ,292 - 5 ,052 55 46 - - Data are In millions of dollars. - 236 176 -413 1 - - -1 1963 Unallocated financial flows Memo i Total gross domestic investment. 148 ,360 Flow of Funds basis Private sectors 151 ,772 Households 97 ,843 Farm business 3 ,690 Nonfarm noncorp. business 9 ,155 Nonfinancial corp. busines 38 ,787 Private finan. institution 2 ,297 - 3 ,412 - 2 ,019 - 1 ,507 59 55 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 19 31 56 57 58 59 60 61 62 63 64 65 66 67 Tangible Asset Holdings 3 8 Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 156,,473 85.> 057 3,, 985 15,,926 50,,075 1,,430 179, 610 92, 321 6, 458 17, 351 61, 603 1,877 197, 135 97, 436 5,,897 16, 254 75, 300 2,,248 196,,314 98,,269 7,,046 17,,243 71.,188 2,,568 218, 006 113, 974 6, 351 18,,622 74,,064 4,,995 239.,444 121,,503 6,,780 22,,901 83.,248 5,,012 234,,465 119,,405 7.,387 23.,695 78.,884 5.,094 270,,070 140,,873 9,,141 30,,169 84,,397 5,,490 7 Capital consumption Households 8 Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Private finan. insts. 12 95,,666 51,,889 3,,893 9,,569 29,,448 867 100, 628 54, 042 4,,046 10, 101 31, 459 980 107, 489 56,,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 82.,319 5,,631 14.,971 49.,857 1,,799 169,,383 7 90,,201 8 5,,942 9 16,,426 10 54,,783 11 2,,031 12 13 Net capital formation Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Private finan. insts. 18 60,,807 33,,168 92 6 ,357 20,,627 563 89,,646 40,,475 1,,609 5,,404 41,,019 1,,139 79.,546 36.,496 2.,494 5.,629 33.,632 1.,295 90,,007 46,,355 1,,499 6,,039 32.,616 3,,498 97.,994 46,,178 1,,529 9,,070 37,,849 3,,368 79,,888 37,,086 1,,756 8,,724 29,,027 3,,295 19 Net foreign investment Net financial investments Private sectors 20 Households 21 Farm business 22 Nonfarm noncorp. business 23 Nonfinancial corp. bus. 24 Private finan. insts. 25 5 ,916 4,,973 3,,660 2.,379 1,,049 -1:,118 2,,980 13 ,761 24 ,855 -102 - 6 ,357 - 6 ,903 2 ,268 6,,981 26,,851 -2,,366 -7,,250 -11.,417 1,,163 7,,551 32,,219 -1.,527 -5,,404 -18,,350 613 21.,767 42.,948 -2,,453 -5,,629 -14,,159 1,,060 12.,387 36,,585 -1.,456 -6,,039 -18.,092 1.,389 -7,,067 28,,326 -1,,468 -9,,070 - 2 0 ,954 -3,,901 15,,366 52,,393 -1,,748 - 8 ,724 -20,,757 - 5 ,798 17,,479 48,,243 - 3 ,184 -13,,743 -151,010 1,,173 20 21 22 23 24 25 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority - 7 ,170 - 3 ,042 - 3 ,710 49 -467 -3,,493 -2,,905 -669 55 26 -4,,050 -2,,463 -1,,651 46 18 -18,,514 -4,,789 -13,,795 42 28 -14,,625 -5,,010 -9,,651 15 21 - 3 ,675 - 9 ,997 6 ,247 35 40 - 1 7 ,590 -4,,674 - 1 2 ,954 17 21 -33 ,279 -10 ,051 -23,,269 95 —54 26 27 28 29 30 -675 1,,485 159 874 3,,287 9 ,624 5 ,204 32 Reval. of physical assets Households 33 Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - Inventory valuation adj. Private finan. insts. 38 12 ,863 3 ,484 475 3 ,315 4 ,431 -494 664 11,,915 -3,,613 3,,571 3,,294 6,,699 -1.,245 719 45 ,466 17,,797 1,,660 9,,806 13,,508 -2,,107 588 36 ,010 14,,025 1 ,272 5 ,098 13 ,609 - 1 ,554 452 95 ,372 43 ,437 4 ,780 17,,149 27 ,035 -3,,651 -680 91 ,792 36 ,179 6 ,579 15 ,473 28 ,472 - 5 ,870 -781 77 ,387 27 ,030 2 ,123 11 ,310 30 ,911 - 6 ,552 -539 111,,737 43 ,790 7 ,404 19,,682 36,,296 -4,,584 -19 32 33 34 35 36 37 38 39 Revaluations by type of asset Residential structures 40 Plant and equipment 41 Inventories 42 Consumer durables 43 12 ,863 10 ,485 6 ,094 466 - 4 ,182 11,,915 4,,502 11,,495 3,,760 -7,,842 45 ,466 24 ,842 19,,421 1 ,941 -738 36 ,010 13 ,199 17 ,394 1 ,953 3 ,464 95 ,372 50 ,563 34 ,259 6 ,470 4 ,080 91 ,792 41 ,964 35 ,668 10 ,870 3 ,290 77 ,387 20 ,312 43 ,480 4 ,797 8 ,798 111,,737 55 ,706 50 ,757 9 ,725 -4,,451 39 40 41 42 43 44 Change in land values Households 45 Farm business 46 Nonfarm noncorp. business 47 Nonfinancial corp. business 48 Private finan. insts. 49 22 ,045 5 ,831 8 ,643 4 ,218 3 ,091 262 22,,907 4,,823 10,,633 3,,968 3,,251 232 40,,466 20 ,096 8 ,100 8 ,443 3 ,654 173 17 ,411 5 ,435 9 ,529 2 ,252 234 -39 24 ,422 13,,134 6,,283 4 ,858 26 121 24 ,510 12 ,099 2 ,910 5 ,627 3 ,654 220 18 ,106 7 ,459 3 ,806 4 ,057 2 ,651 133 38 ,621 16,,594 11,,953 6,,912 2,,979 183 44 45 46 47 48 49 50 Adj. to capital consumption Households 51 Farm business 52 Nonfarm noncorp. business 53 Nonfinancial corp. business 54 Private finan. insts. 55 -2 286 212 -499 -2 337 245 -583 -2 361 265 -629 1 -4 393 288 -684 -1 -1 444 320 -765 469 349 -817 -1 -2 308 227 -537 1 -1 -1 -2 505 373 -880 1 -1 50 51 52 53 54 55 Memo: Total gross domestic investment. 163 ,064 Flow of Funds basis Private sectors 170 ,234 109 ,912 Households 3 ,883 Farm business Nonfarm noncorp. business 9 ,569 Nonfinancial corp. busines 43 ,172 Private finan. institution 3 ,698 183 ,098 186 ,591 119 ,172 4 ,092 10 ,101 50 ,186 3 ,040 200 ,636 204 ,686 129 ,655 4 ,370 10 ,850 56 ,950 2 ,861 199 ,567 218 ,081 141 ,217 4 ,593 11 ,614 57 ,029 3 ,628 215 ,768 231 ,723 150 ,559 4 ,895 12 ,583 57 ,302 6 ,384 228 ,702 232 ,421 149 ,829 5 ,312 13 ,831 62 ,338 1 ,111 232 ,241 250 ,160 171 ,798 5 ,639 14 ,971 58 ,456 -704 254,,270 288 ,266 189 ,116 5 ,957 16,,426 70 ,104 6 ,663 56 57 58 59 60 61 62 - 7 ,170 - 3 ,042 - 3 ,710 49 -467 - 3 ,493 - 2 ,905 -669 55 26 - 4 ,050 - 2 ,463 - 1 ,651 46 18 - 1 8 ,514 - 4 ,789 - 1 3 ,795 42 28 - 1 5 ,955 - 5 ,010 - 1 0 ,981 15 21 - 3 ,719 - 9 ,997 6 ,203 35 40 - 1 7 ,919 - 4 ,674 -13 ,283 17 21 -33 ,996 -10 ,051 -23 ,986 95 -54 63 64 65 66 67 1 Purchases of physical assets Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 Private finan. insts. 6 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 Unallocated financial flows Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. 78, 982 38, 279 2, 412 7, 250 30,, 144 897 -1 - 100,,687 50,,672 3,,199 13,,743 29,,614 3,,459 1 2 3 4 5 6 13 14 15 16 17 18 -10,,496 19 5,,304 31 April 1988 Tangible Asset Holdings Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets 3 9 Annual Flows Annual Flows 1972 197$ 1974 1975 1976 1977 1978 1979 1 2 $ 4 5 6 313..207 164,,170 9,,276 39,,139 94,,064 6,,558 363,,507 183,,396 14,,082 42,,492 115,,820 7,>717 364 ,616 180 ,396 11 ,211 32 ,931 132 ,086 7 ,992 354 ,920 193 ,876 16 ,904 25 ,609 110 ,931 7 ,600 439 >142 237 >517 13 >570 27,>350 152 >947 7 ,758 528 ,552 284 ,225 19 ,088 39 ,282 177 ,135 8 ,822 622,>423 327,>703 20 >870 47 >366 215 >024 11,>460 673 ,799 Purchases of physical assets 356 >068 Households 26 ,235 Farm business 44 ,312 Nonfarm noncorp. business 233 ,552 Nonflnancial corp. bus. 13 ,632 Private finan. insts. 7 8 9 10 11 12 184,,349 97,,377 6,,605 17,,989 60,,111 2,,267 201,,554 106,,567 7,,228 19,,965 65,,223 2,,571 231 ,333 120 ,828 8 ,308 22 ,677 76 ,301 3 ,219 268 ,788 137 ,106 9 ,789 26 ,107 91 ,878 3 >908 297 >791 151 >657 10 >771 28 >514 102,>301 4,>548 332 ,704 169 ,015 12 ,099 31 ,945 114 ,321 5 ,324 376 >700 190,>344 13 >557 36 >564 129,>844 6,>391 430 ,714 Capital consumption 215 ,204 Households 15 ,343 Farm business 42 ,935 Nonfarm noncorp. business 149 ,609 Nonfinancial corp. bus. 7,>623 Private finan. insts. 7 8 9 10 11 12 15 14 15 16 17 18 128,,858 66,,793 2,,671 21,,150 33,,953 4,,291 161,,953 76,,829 6,,854 22,,527 50,,597 5 ,146 133 ,283 59 ,568 2 ,903 10 ,254 55 ,785 4 ,773 86 >132 56,>770 7 ,115 -498 19 ,053 3 ,692 141,>351 85 >860 2,>799 -1,>164 50,>646 3,>210 195 ,848 115 ,210 6 ,989 7 ,337 62 ,814 3 ,498 245,>723 137,>359 7,>313 10,>802 85,>180 5 >069 243,>085 Net capital formation 140,>864 Households 10,,892 Farm business Nonfarm noncorp. business 1,,377 83,,943 Nonfinancial corp. bus. 6 >009 Private finan. insts. 13 14 15 16 17 18 1 2 3 4 5 6 19 -6,,962 4 ,486 - 7 ,497 24 ,034 14 ,751 -16 ,532 -2,>467 20 21 22 23 24 25 14,,431 58,,573 -2,,499 -21,> 150 -16,• 949 -3,,544 6 ,022 65 ,036 - 6 ,255 -22,,527 -30,,908 676 10 ,822 80 ,775 - 2 ,681 - 1 0 ,254 - 5 2 ,334 - 4 ,684 97 ,848 111 ,715 - 6 ,568 498 7 ,567 - 1 5 ,364 58,,842 83,,112 -2,,355 1,,164 -23,>651 572 23 ,706 67 ,589 -6 ,698 - 7 ,337 -33 ,768 3 ,920 14,>078 72,>041 -6,>411 -10,>802 -53,>603 12,>853 51,>471 70,>254 -9,>977 -1,>377 -22,>816 15,>387 26 27 28 29 30 -18,, 380 134 -18,>761 146 101 - 4 ,337 2 ,266 -6,,996 261 132 - 1 4 ,187 - 5 ,235 - 9 ,550 468 130 -81 ,550 - 7 ,496 - 7 4 ,561 271 236 - 5 7 >298 1,>554 -59 >231 331 48 -39,,581 15 >814 -55 ,973 355 223 -36,>158 2,,350 -39,>708 520 680 -22,>905 516 -24,>197 556 220 31 - 3 >013 2 ,801 —4,,132 7,,736 13,>207 -657 19,,61% -2,>668 32 33 34 35 36 37 38 116 >625 47 ,731 13 ,693 17,,880 31 ,863 - 6 ,610 -1,,152 220 ,722 86,,209 24,>697 30,>604 59,>236 -20,>022 -46 428 ,321 145 ,218 14 ,828 53 ,028 171 ,391 - 3 9 ,457 4 ,399 220 ,592 78 ,199 5 ,662 29,,771 94 ,511 -10 ,952 1 ,497 257 >879 110,>877 7,>692 46,>907 74,>435 -14,>911 3,>057 358 ,044 164,>050 10,>969 65,>559 96,>636 -16 >637 4 >193 545,,636 220,,464 33,,290 96,,813 162,,299 -25,,298 7,,472 520,,058 Reval. of physical assets 184,,774 Households 18,,034 Farm business Nonfarm noncorp. business 122,,083 148,,268 Nonfinancial corp. bus. -43,,175 - Inventory valuation adj. 3,,724 Private finan. Insts. 32 33 34 35 36 37 38 39 40 41 42 43 1161,625 61 ,492 41 ,660 17 ,312 - 3 ,839 220,>722 100,>478 68,>200 47,>436 4,>608 428 ,321 120 ,443 208 ,843 55 ,255 43 ,780 220,,592 76 ,400 109,,914 11,,139 23,,139 257,>879 127,>805 97,>493 18,,436 14,>145 358,>044 190,>249 127,>227 21,>130 19,>438 545,,636 233,,760 221,,773 53,,921 36,,182 520,,058 Revaluations by type of asset 235,,073 Residential structures 160,,521 Plant and equipment 73,,626 Inventories 50,,838 Consumer durables 39 40 41 42 43 44 <5 46 47 48 49 71 ,546 19 ,694 24 ,499 18 >766 8 ,399 188 128 >318 35,,934 53 ,885 25 ,841 12,,407 251 111 ,029 31 ,762 29 ,635 26 ,233 22 .891 508 95 ,006 18 ,866 46,,702 23,,638 6,,125 -325 176,>717 57,>437 71,>245 33,>957 13,,932 146 207,>617 82 >172 45 >516 57,>013 22,>653 263 294,,635 105,,596 81,,149 73,,228 33,,929 733 329,,440 Change in land values 103,,709 Households 101,,700 Farm business Nonfarm noncorp. business 91,,947 Nonfinancial corp. business 32,,031 53 Private finan. insts. 44 45 46 47 48 49 50 51 52 53 54 55 548 421 -967 -2 -3 618 467 -1,,087 -1 368 549 -918 -1 423 672 -1,,093 -2 -1 -3 473 768 -1,,243 -1 -1 548 891 -1,>440 1 -1 -1 644 1,,027 -1,,673 1 - 2 Adj. to capital consumption 773 Households Farm business 1,,193 Nonfarm noncorp. business -1,,967 Nonflnancial corp. business -1 Private finan. insts. - 50 51 52 53 54 55 56 57 58 59 60 61 62 309 ,258 328 ,550 222 ,743 6 ,777 17 ,989 78 ,027 3 ,014 365 ,192 372 ,697 248 ,432 7 ,827 19 ,965 88 ,080 8 ,393 361 ,251 381 ,928 261 ,171 8 ,530 22 ,677 86 ,242 3 ,308 371 ,218 454,,091 305,,591 10,,336 26 ,107 119,,821 -7,,764 440,,686 501,,957 320,,629 11,,215 28,,514 133,,269 8,>330 512,>677 554,>728 351,,814 12,,390 31,>945 145,>837 12,>742 600,,343 638, 474 399,,744 14,,459 36,,564 163,,394 24,,313 63 64 65 66 67 -19 ,292 134 -19 ,673 146 101 - 7 ,505 2 ,266 - 1 0 ,164 261 132 - 2 0 ,677 - 5 ,235 - 1 6 ,040 468 130 - 8 2 ,873 - 7 ,496 -75,,884 271 236 -61,>271 1,>554 -63,,204 331 48 -42,>051 15,>814 -58 >443 355 223 -38,,131 2,,350 -41,,681 520 680 - -1 - Data are In m i l l i o n s of d o l l a r s . - 25 >898 Net foreign Investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows Memo: Total. gross domestic investment, 702, 365 Flow of Funds basis 730,,015 Private sectors Households 426,,322 16,,258 Farm business Nonfarm noncorp. business 42,,935 Nonflnancial corp. busines 215,,481 Private finan. institution 29,,019 -27,,650 516 -28,,942 556 220 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 19 20 21 22 23 24 25 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 April 1988 Tangible Asset Holdings 4 0 Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1980 1 Purchases of physical assets Households 2 3 Farm business Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 6 Private finan. insts. 1981 1982 1983 1984 1985 1986 1987 656 ,250 342 ,695 14 ,138 46 ,593 238 ,702 14 ,122 755 ,387 362 ,050 24 ,116 71 ,518 281 ,684 16 ,019 699 ,925 354 ,980 13 ,805 65 ,212 248 ,669 17 ,259 791 ,400 427 ,838 6 ,682 70 ,605 266 ,904 19 ,371 1000 ,400 505 ,319 21 ,906 80 ,444 363 ,013 29 ,718 1010 ,300 544 ,119 7 ,555 83 ,330 338 ,382 36 ,914 1073 ,375 600 ,902 10 ,046 90 ,085 332 ,026 40 ,316 7 Capital consumption 8 Households 9 Farm business Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Private finan. insts. 12 491 ,212 243 ,638 17 ,591 49 ,850 171 ,262 8 ,871 550 ,352 264 ,363 19 ,363 57 ,359 198 ,782 10 ,485 598 ,553 280 ,913 20 ,455 63 ,767 221 ,393 12 ,025 622 ,974 295 ,297 20 ,781 65 ,800 228 ,196 12 ,900 652 ,188 309 ,394 22 ,168 67 ,715 238 ,436 14 ,475 692 ,172 332 ,303 22 ,001 70 ,301 251 ,167 16 ,400 731 ,700 356 ,156 21 ,306 72 ,955 262 ,833 18 ,450 778 ,345 7 383 ,988 8 20 ,671 9 78 ,942 10 274 ,319 11 20 ,425 12 13 Net capital formation Households 14 Farm business 15 16 Nonfarm noncorp. business Nonfinancial corp. bus. 17 18 Private finan. insts. 165 ,038 99 ,057 - 3 ,453 - 3 ,257 67 ,440 5 ,251 205 ,035 97 ,687 4 ,753 14 ,159 82 ,902 5 ,534 101 ,372 74 ,067 -6 ,650 1 ,445 27 ,276 5 ,234 168 ,426 132 ,541 -14 ,099 4 ,805 38 ,708 6 ,471 348 ,212 195 ,925 -262 12 ,729 124 ,577 15 ,243 318 ,128 211 ,816 -14 ,446 13 ,029 87 ,215 20 ,514 341 ,675 244 ,746 -11 ,260 17 ,130 69 ,193 21 ,866 352 ,055 252 ,253 - 3 ,310 - 3 ,298 85 ,006 21 ,404 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 31 ,233 27 ,395 30 ,834 -28 ,350 -71 ,703 -105 ,374 -127 ,540 113 ,821 131 ,693 3 ,918 3 ,257 -37 ,424 12 ,377 73 ,242 168 ,381 - 4 ,530 -14 ,159 -61 ,831 -14 ,619 200 ,520 244 ,231 7 ,147 -1 ,445 -38 ,139 -11 ,274 164 ,057 178 ,582 14 ,677 - 4 ,805 -21 ,554 - 2 ,843 114 ,873 224 ,419 930 - 1 2 ,729 - 6 5 ,125 - 3 2 ,622 110 ,681 153 ,385 15 ,303 - 1 3 ,029 - 3 7 ,286 - 7 ,692 87 ,726 147 ,170 11 ,899 -17 ,130 -39 ,245 -14 ,968 38 ,886 90 ,963 4 ,239 3 ,298 -56 ,906 - 2 ,708 20 21 22 23 24 25 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority -71 ,365 - 8 ,559 -63 ,316 337 173 -77 ,054 -243 -77 ,758 498 449 -154 ,197 - 2 ,283 -153 ,168 1,,107 147 -188 ,371 2 ,788 -192 ,533 867 507 -173 ,341 18 ,081 -192 ,864 867 575 -202 ,720 19 ,403 -219 ,536 - 1 ,443 - 1 ,144 -218 ,141 12 ,213 -228 ,037 -433 - 1 ,884 -190 ,967 - 8 ,910 -180 ,929 424 -1 ,552 26 27 28 29 30 -11 ,223 31 ,207 -15,,489 - 4 ,036 - 1 3 ,235 - 1 3 ,335 2 ,875 32 Reval. of physical assets 33 Households Farm business 34 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 611 ,437 188 ,929 31,,021 132,,034 208,,599 -43,,129 7,,725 540 ,896 162 ,094 11 ,553 120,,074 215,,129 -24,,189 7,,857 64 ,954 -67,,382 5 ,441 36,,309 76,,705 -10,,350 3,,531 233,,469 122,,219 20,,284 50,,141 29,,297 -10,,900 628 177 ,248 29 ,455 2 ,744 68 ,196 69 ,224 - 5 ,800 1,,829 103 ,938 25 ,440 -1,,323 54,,304 28,,587 -750 -3,,820 212 ,570 115,,973 2 ,451 47,,092 51,,473 6,,550 2,,131 311 ,427 128 ,211 14,,179 75 ,041 80,,013 -17,,324 -3,,341 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures Plant and equipment 41 42 Inventories Consumer durables 43 611,,437 216,,391 259,,484 72,,804 62,,758 540,,896 207,,064 269,,025 25,,668 39,,139 64,,954 -57,,624 107,,589 7,,021 7,,968 233,,469 151,,829 56,,342 22,,806 2,,492 177,,248 105,,264 88,,425 3,,276 -19,,717 103,,938 86,,578 34,,707 -4,,725 -12,,622 212,,570 143,,662 74,,061 -15,,763 10, 610 311,,427 168,,866 90,,582 35,,900 16,,079 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business Nonfarm noncorp. business 47 48 Nonfinancial corp. business 49 Private finan. insts. 305,,663 82,,159 69,,154 102,,877 50,,710 763 279,,171 124,,350 -11,,095 113,,136 51,,935 845 53,,487 5,,151 -38,,978 55,,942 31,,015 357 169,,459 92,,209 -16,,868 69,,190 24,,440 488 58,,631 55,,905 -113,,056 75,,592 38,,994 1,,196 71,,043 51,,608 -87,,341 74. 975 30. 682 1. 119 217, 429 139. 799 -54.818 97. 387 33. 634 1,427 255, 440 99. 603 74. 564 56. 814 23. 199 1,260 44 45 46 47 48 49 50 Adj. to capital consumption Households 51 Farm business 52 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. -1 909 1. 399 -2,,308 -1 -2 1,,030 1,,570 -2,,603 1 15 1,,113 1, 680 -2. 782 9 -7 27 1,,160 1,,725 -2,878 -12 32 11 1.,242 432 -1, 653 6 -16 32 1, 344 124 - 1 , 427 11 -20 -14 1,433 126 - 1 , 584 -12 23 -108 3. 593 154 -4,571 429 287 50 51 52 53 54 55 751,,575 833, 476 530, 431 19, 586 57, 359 224, 700 1,400 746. 248 908. 236 599. 211 20. 952 63. 767 218. 321 5, 985 767. 086 963. 242 606. 420 21. 359 65. 800 253. 135 16. 528 941. 932 1123. 175 729. 738 22,836 67. 715 305. 790 - 2 , 904 918, 261 1125, 357 697, 504 22, 858 70, 301 505, 472 29, 222 942, 960 1168, 295 748, 072 21, 945 72, 955 299, 975 25, 348 978, 319 1172,222 727,204 21, 600 78, 942 305, 355 39, 121 56 57 58 59 60 61 62 -81. 901 -243 -82. 605 498 449 -161, 988 - 2 ,283 -160, 959 1, 107 147 -196. 156 2. 788 -200, 318 867 507 -181,245 18, 081 -200, 766 867 575 -207, 096 19,405 -223,912 - 1 ,445 - 1 , 144 -225, 335 12,213 -235,231 435 - 1 ,884 -193, 903 - 8 , 910 -183,865 424 — 1» 552 63 64 65 66 67 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 698, 706 Private sectors 775, 068 Households 474, 388 Farm business 18, 056 Nonfarm noncorp. business 49, 850 Nonfinancial corp. busines 206, 275 Private finan. institution 26, 499 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Data are in m i l l i o n s of d o l l a r s . -76. 362 -8, 559 -68. 313 337 173 - 1130 ,400 636 ,241 17 ,361 75 ,644 359 ,325 41 ,829 1 2 3 4 5 6 13 14 15 16 17 18 -154 ,614 19 - 2 ,533 31 April 1988 Households Households 41 Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1950 1951 1952 1953 Households. Personal Trusts, and Nonprofit Organizations 1 411>820 39,,834 51,,519 58 ,427 57,,140 60 ,979 58 ,813 67 ,927 Gross Gn 67,927 inv.,Flow of Funds basis 1 2 16,,083 17,,853 19,,848 23 ,139 25,,582 27 ,777 30 ,763 32 ,353 2 3 25 • 737 21,,981 31,,671 35 .288 31,,558 33 ,202 28 ,050 35 ,574 4 5 6 167 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 ,763 206 32 ,559 32 ,353 7 8 9 10 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,,197 35,,199 25,,777 46,,779 - 2 ,068 21,,603 27,,975 51,,646 -259 20 ,773 30 ,963 51,,995 2 ,987 • Reval. 1 7 of physical assets 33,,846 Change in value 8 32 ,559 Depreciation charges 9 63,,418 -Gross purchases, FOF basis 10 11 12 13 14 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,,197 6,,045 2,,247 5,,905 - 2 ,068 -632 -170 -1,,266 -259 2 ,651 -34 -2,,876 2 ,987 4 ,501 921 -2,,435 15 3 ,147 911 4,,582 3 ,801 3,,464 2,,540 3,,478 4,,514 16 17 18 - 2 ,089 -1 ,113 976 8 ,614 9,,309 695 23 ,541 24 ,218 677 20 ,804 22 ,630 1 ,826 12,,748 14,,136 1,,388 -9,,099 -8,,015 1,,084 72,,128 72,,605 477 19 20 21 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 53 7,,877 7,,824 22 23 24 5 ,446 10 ,227 4 ,781 7,,726 8 ,405 679 22,,897 27,,253 4,,356 20 ,009 21 ,816 1 ,807 -3,,296 -3,,130 166 2,,625 2,,491 -134 7,,635 5,,794 -1,,841 25 - - Capital consump. allow.,NIPA 1 = Net investment flow. Balance Sheet basis - ] Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 1 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables • 1 land holdings 3 4 5 6 11 12 13 14 15 50,,319 • 1 Reval. of corporate equities 16 51,,274 Change in value 17 955 -Net purchases 18 + 1 2,,265 10,,797 8,,532 pension fund reserves Change in value -Net acquisitions 13,,321 • 1 11,,397 Change in value -1,,924 -Net inv. in noncorp. bus. 2 + ( 19 20 21 22 23 24 -24 1 -2 26 39 ,792 33 ,790 96,,781 91 ,814 58, 459 27,,007 n o ,,883 ( 108,,776 = Change in net worth 26 ; 7 188 ,150 187,,941 207,,475 227 ,593 239,,795 255,,105 260, 597 278,,771 Met 27 " - - Data are in m i l l i o n s of d o l l a r s . - 25 April 1938 Households 42 Households Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 Households, Personal Trusts, and Nonprofit Organizations 1 Gross inv.,Flow of Funds basis 74 ,572 75 ,952 75 ,916 80 ,872 82 ,352 83 ,581 90 ,654 97 ,843 Capital consump. allow.,NIPA 36 ,142 38 ,934 40 ,980 43 ,078 44 ,591 46 ,264 47 ,620 49 , 522 2 3 Net investment flow. Balance Sheet basis 38 ,430 37 ,018 34 ,936 37 ,794 37 ,761 37 ,317 43 ,034 48 ,321 3 4 5 6 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 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 ,620 270 49 ,792 49 ,522 4 5 6 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 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 ,952 20 ,580 44 ,827 69,,359 - 1 ,596 18 ,041 46 ,508 66 ,145 - 2 ,888 21 ,717 47 ,876 72 ,481 -6 ,719 7 22 ,506 8 49 ,792 9 79 ,017 10 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 8 ,344 1 ,439 1 .124 5 ,781 -3,,888 -419 122 -3,>591 3 ,423 1 ,659 -292 2 ,056 -1 ,147 -418 -117 -612 -3,,952 -1,,067 -260 -2,,625 -1,,596 -580 304 -1,,320 - 2 ,888 -202 430 -3,,116 -6 ,719 - 5 ,925 594 -1,,388 2 7 8 9 10 - + 11 12 13 14 • Change in the value of land holdings + Reval. of corporate equities Change in value -Net purchases + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 15 16 17 18 19 20 21 22 23 24 + Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 25 + Other revaluations 26 = Change in net worth 27 Memo: Disp. personal income Data are in millions of dollars. 1 11 12 13 14 9 ,173 3,,641 3,,865 4,,190 10,,114 4,,111 3,,816 2 ,883 15 16 ,809 18 ,794 1 ,985 -39,.249 -37,-705 1,,544 104,,382 105 ,929 ,547 28 ,140 28 ,680 540 -6,,527 -6,,534 -7 104,,631 105,,346 715 -62,,259 -63,,711 -1,,452 78 ,030 16 76 ,420 17 -1,,610 18 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,,274 9,,750 13,,024 3,,926 19 17,,800 20 13,,874 21 19,,842 18 ,562 -1,,280 13,,640 12,,727 913 15,,158 15,,380 222 11,,388 8,,820 -2,,568 8,,710 6, 206 -2, 504 9,,756 10,,204 448 10,,723 10,,919 196 10,,000 22 11, 637 23 1, 637 24 2 1 1 410 14 532 678 155 25 92,,391 10, 283 164,,276 81,,792 45, 972 157,,644 -10, 426 136, 326 26 297,,542 313. 969 324,,886 344,,629 358, 928 373, 774 396, 167 415, 834 27 April 1988 Households Households 43 Sector Stock-Flow R e c o n c i l i a t i o n Statement Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 Households. Personal T r u s t s , and Nonprofit Organizations 1 109.912 119.172 129.655 189. 116 Gross i n v . . F l o w of Funds b a s i s 1 Capital consump. allow..NIPA 2 141.217 150.559 149, 829 171. 798 75, 325 8 2 . 319 90, 201 2 51,889 54.042 56.961 61.773 67.619 3 58.023 65.130 72.694 79.444 82.940 74, 504 8 9 . 479 98, 915 4 5 6 286 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, 319 505 90, 706 90. 201 7 8 9 10 3.484 36.366 52.175 85.057 -3.613 34.358 54.350 92.321 17.797 57.935 57.298 97.436 14.025 50.160 62.134 98.269 43.437 89.399 68.012 113.974 36, 179 81, 913 75, 769 121, 503 27, 030 63, 647 82. 788 119,>405 43, 790 93. 957 90, 706 140,>873 11 12 13 14 3.484 7.040 626 -4.182 -3.613 2.922 1.307 -7.842 17.797 16.470 2.065 -738 14.025 9.538 1.023 3.464 43.437 35.525 3.832 4.080 36,,179 28 ,461 4 428 3 ,290 27, ,030 13,,864 4 ,368 8 ,798 43, ,790 41, ,857 6 ,384 - 4 ,451 15 5.831 4.823 20.096 5.435 13.134 12 ,099 7 ,459 16 ,594 -16,927 -17,536 -609 107 ,935 103 ,814 - 4 ,121 - • Net Investment f l o w . Balance Sheet b a s i s 3 Depreciation valu at ion a d j . Depreciation charges -Cap. consump. a l l o w . . NIPA 4 5 6 7 Reval. of physical a s s e t s 8 Change in value 9 Depreciation charges -Gross purchases. FOF b a s i s 10 • Revaluation by type of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 11 12 13 14 Change In the value of land holdings 15 Reval. of corporate e q u i t i e s 16 17 Change in value 18 -Net purchases 16 17 18 50.486 50.625 139 72.483 70.766 -1,717 -60.141 —60.133 8 148.074 144,521 -3.553 143.156 137.176 -5,980 - 1 1 0 ,092 - 1 1 1 ,779 - 1 ,687 19 20 21 4.064 20.445 16.381 4.103 21.089 16.986 -5.000 14,327 19.327 8.396 27.150 18,754 6.590 26.532 19.942 - 6 ,084 15 ,753 21 ,837 2 ,201 26 ,390 24 .189 15 ,451 43 ,428 27 ,977 Reval. of l i f e Insurance 8 pension fund r e s e r v e s Change in value -Net a c q u i s i t i o n s 19 20 21 22 23 24 16.463 15.847 -616 20.897 21.271 374 27.923 27.180 -743 17,845 16.938 -907 32.736 30.844 -1.892 30 ,497 26 ,082 - 4 ,415 23 .084 17 .544 - 5 .540 44 .038 40 ,427 - 3 ,611 Reval. of noncorp. equity Change in value -Net i n v . in noncorp. bus. 22 23 24 Other r e v a l u a t i o n s 25 25 833 -20 11 129 -147 956 - 1 .688 26 138.898 163.495 73.043 272.987 321.453 37 ,615 130 .169 27 451.413 486.808 525,910 562.092 609.582 656 ,687 715 .595 -741 • 325 ,477 • Change In net worth 776 ,784 Hemo: Dlsp. personal Income 26 27 Households Households Sector Stock-Flow R e c o n c i l i a t i o n Statement 44 Annual Flows Annual Flows 1972 197$ 1974 1975 1976 1977 1978 1979 Households, Personal Trusts, and Nonprofit Organizations 1 Gross i n v . . F l o w of Funds b a s i s 222, 743 248, ,432 261 ,171 305,,591 320 ,629 351,,814 399 ,744 426 ,322 1 Capital consump. allow.,NIPA 97, 377 106,,567 120 ,828 137 ,106 151 ,657 169,,015 190 ,344 215 ,204 2 3 2 - 3 Net Investment f l o w . Balance Sheet b a s i s 125, 366 141, 865 140 ,343 168 ,485 168 ,972 182 ,799 209 ,400 211 ,118 4 5 6 Depreciation valuation a d j . Depreciation charges -Cap. consump. a l l o w . , NIPA 548 97,,925 97,,377 618 107,,185 106,,567 368 121,,196 120 ,828 423 137 ,529 137 ,106 473 152 ,130 151 ,657 548 169 ,563 169,,015 644 190 ,988 190 ,344 773 4 215 .977 5 215 • 204 6 Reval. of physical a s s e t s Change in value Depreciation charges -Gross purchases, FOF b a s i s 47,,731 113,,976 97,,925 164,,170 86, ,209 162,,420 107,,185 183,,396 145 ,218 204 ,418 121 ,196 180 ,396 78 ,199 134,,546 137,,529 193 ,876 110 ,877 196 ,264 152 ,130 237 ,517 164,,050 278 ,712 169,,563 2841,225 220 ,464 357 .179 190 ,988 327 ,703 184 .774 7 324 .865 8 215 ,977 9 356 ,068 10 Revaluation by type of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 47,,731 461,296 5 ,274 - 3 , ,839 86 ,209 74,,411 7 ,190 4,,608 145,,218 86 ,493 14,,945 43,,780 78 ,199 50 ,934 4 ,126 23 ,139 110 ,877 89 ,335 7 ,397 14 ,145 164 ,050 134,,076 10,,536 19,,438 220 ,464 159 ,383 24 ,899 36,,182 184,,774 126,,907 7,,029 50.838 Change in the value of land holdings 19,• 694 35,,934 31,,762 18 ,866 57 ,437 82, ,172 105,,596 103,,709 15 * Reval. of corporate e q u i t i e s Change in value -Net purchases 95,,423 87, ,403 - 8 ,020 -207, ,615 -211, ,113 - 3 , ,498 -214 ,957 -215 ,580 -623 149,,617 145,,684 - 3 ,933 116 ,542 114 ,676 - 1 ,866 - 3 8 ,369 - 4 5 , ,420 - 7 , ,051 9 ,065 - 3 , ,424 -12, ,489 177,,886 16 154 ,225 17 - 2 3 ,661 18 • Reval. of l i f e insurance 8 pension fund reserves Change in value -Net a c q u i s i t i o n s 11,,841 60 .292 48 ,451 "25 ,868 14,,018 39 ,886 - 2 9 ,243 14 ,466 43 .709 34 ,895 106 ,816 71 ,921 15 ,572 72 ,214 56 ,642 - 1 6 , ,185 62 ,375 78 ,560 17 ,354 112,,376 95 ,022 14,,423 19 116,,257 20 101,,834 21 Reval. of noncorp. equity Change in value -Net i n v . in noncorp. bus. 73 ,070 65,,497 - 7 ,573 131,,403 124,,534 - 6 ,869 121 ,681 107 ,154 -14 ,527 101,,434 87 ,616 - 1 3 ,818 155 ,366 132 ,103 -23, ,263 176,,401 149,,093 - 2 7 , ,308 279 ,971 250,,201 - 2 9 , ,770 327,,784 22 283, ,768 23 - 4 4 , ,016 24 * 7 8 9 10 • 11 12 13 14 • 15 16 17 18 19 20 21 22 23 24 25 26 • • Other revaluations Change in net worth 27 Hiemo: Dlsp. personal income Data are in m i l l i o n s of d o l l a r s . 11 12 13 14 - 1 , ,334 - 2 , ,079 3 ,478 2 ,836 -232 309 5, 551 5, 446 25 371,,243 159,,231 197 .914 553 ,909 624 ,061 550, 629 846, 757 1024. 367 26 839, ,596 949 ,769 1038 .372 1142 ,782 12521,645 1379, 341 1551,,229 1729. 321 27 April 1988 Households Households 45 Sector Stock-Flow Reconciliation Statement Annual Flows 1980 Annual Flows 1981 1982 1983 1984 1985 1986 1987 ? 1 Households. Personal Trusts, and Nonprofit Organizations 1 474. 388 431 599,,211 606, 420 729,,738 697,,504 748,,072 727,,204 Gross inv..Flow of Funds basis 1 2 243, 638 264, 363 280,,913 295,,297 309,,394 332,,303 356,,156 383,,988 Capital consump. allow..NIPA 2 3 230,,750 266, 068 318,,298 311,,123 420,,344 365,,201 391,,916 343,,216 Net investment flow. Balance Sheet basis 3 4 5 6 909 244, 547 243, 638 1, 030 265, 393 264, 363 1,,113 282,,026 280,,913 1,,160 296, 457 295,,297 1,,242 310 ,636 309,,394 1,,344 333,,647 332,,303 1,,433 357,,589 356,,156 3,,593 387,,581 383,,988 Depreciation valuation ad). Depreciation charges -Cap. consump. allow., NIPA 4 5 6 7 8 9 10 its,929 287,.077 244, 547 342, 695 162, 094 258,,751 265, 393 362,,050 -67,,382 5 ,572 282 ,826 354,,980 122,,219 253,,600 296,,457 427,,838 29,,455 224,,138 310 ,636 505 ,319 25,,440 235,,912 333 ,647 544,,119 115,,973 359,,286 357,,589 600,,902 128,,211 + Reval. of physical assets 7 Change in value 376,,871 8 Depreciation charges 387,,581 9 -Gross purchases, FOF basis 10 636,,241 11 12 13 14 188,, 929 108.,863 17,, 308 62,,758 162,,094 105,,579 17,,376 39,,139 - 6 7 ,382 -78,,854 3 ,504 7 ,968 122,,219 106,,748 12,,979 2,,492 29 ,455 39 ,438 9 ,734 - 1 9 ,717 25 ,440 32 ,869 5 ,193 -12,,622 115 ,973 97,,204 8 ,159 10,,610 128,,211 101,,264 10 ,868 16 ,079 15 82 ,159 124,,350 5 ,151 92,,209 55 ,905 51 ,608 139,,799 99 ,603 16 17 18 317 ,352 306 >481 - 1 0 >871 -22,,354 -61,,858 -39,,504 144 ,837 139 ,678 - 5 ,159 176,,682 180,,795 4,,113 71 ,794 15 ,800 - 5 5 ,994 484 ,738 451 ,745 - 3 2 ,993 298 ,888 320,,184 21,,296 7 ,555 + Reval. of corporate equities 16 Change in value — 661,468 17 -Net purchases -74 ,023 18 19 20 21 40 ,225 158 ,728 118 ,503 -27,,833 90,,078 117,,911 41 ,833 180 ,833 139 ,000 61,,934 215,,525 153,,591 - 1 2 ,693 139 ,706 152 ,399 94 ,839 289 ,338 194 ,499 78 ,901 280 ,631 201 ,730 20 ,966 265 ,525 244 ,559 22 23 24 331 ,219 282 ,099 - 4 9 ,120 237,,136 208,,357 -28,,779 67 ,372 22 ,115 - 4 5 ,257 124,,633 35 ,159 - 8 9 ,474 39 ,362 - 3 3 ,418 - 7 2 ,780 49 ,942 - 1 5 ,839 - 6 5 ,781 99 ,163 14 ,010 - 8 5 ,153 194 ,546 + Reval. of noncorp. equity Change in value 97 ,215 -Net inv. in noncorp. bus. - 9 7 ,331 25 1 ,465 - 4 ,337 8 ,821 4 ,584 3 ,860 1 ,627 - 2 ,259 - • + 26 1191 ,190 734,,094 517 ,817 892,,224 606 ,785 1072 ,051 1120 ,948 27 1917 ,973 2127 ,584 2261 ,425 2428 ,100 2668 ,600 2841 ,175 3022 ,050 Data are in millions of dollars. 30 ,422 + 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 Other revaluations 820 ,926 = Change in net worth 3181 ,524 Memo: Disp. personal income 19 20 21 22 23 24 25 26 27 April 1988 Farm 8 Noncorporate Business 46 Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1954 1951 1949 1955 Farm Business 1 Gross inv..Flow of Funds basis 1,858 2,092 2*338 2.670 2,894 3,031 3,179 3,267 1 2 • Proprietors' net investment 3,277 560 1,663 1,644 -271 -1,292 -1,637 -2,431 2 3 - Capital consump.allow., NIPA 1,817 2,069 2,305 2.671 2,925 3,082 3,192 3,300 3 = Net investment flow, 4 Balance Sheet basis 3,318 583 1,696 1,643 -302 -1,343 -1,650 -2,464 4 112 3,194 3,082 118 3,310 3,192 125 3,425 3,300 1,211 8 137 9 3,425 10 2,351 11 5 - Depreciation valuation adj. 6 Depreciation charges 7 -Cap. consump. a l l o w . , NIPA 74 1,891 1,817 81 2,150 2,069 87 2,392 2,305 2,769 2,671 105 3,030 2,925 8 • Reval. of physical a s s e t s 9 Change in value 10 Depreciation charges 11 -Gross purchases, FOF basis -2,192 1,959 1,891 6,042 -1,651 -139 2,.150 3,662 6,514 9,431 2,392 5,309 2,795 5,804 2,769 5,778 -565 -24 3,030 3,571 3,194 1,445 -662 564 -304 3,310 2,442 12 13 14 15 -2,192 629 645 -3,466 -1,651 187 -64 -1,774 6,514 780 756 4,978 2,795 614 911 1,270 -565 29 1,929 -2,523 1,087 -197 1,968 -684 564 24 1,831 -1,291 800 -1,830 11,904 -2,979 20.027 16 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • Change in the value of land holdings 17 • Other revaluations 18 = Change in net worth 1,087 12 13 14 15 4,562 16 - 1,852 1,211 219 2,507 -1,515 17 3,184 18 -1,754 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 2 • Proprietors' net investment 4,454 1,504 4,716 119 4,999 2,693 5,695 163 5,695 6.778 6,255 6,462 437 1,158 -204 507 6,009 6,255 6,462 6,778 6,009 4,716 4,999 1.504 119 2,693 163 437 1,158 -204 507 -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 -320 6,142 6,462 -331 6,447 6,778 8 • Reval. of physical a s s e t s 9 Change in value 10 Depreciation charges 11 -Gross purchases, FOF basis 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 -4,945 -4,193 5,708 6,460 185 2,083 5.944 7.842 788 2,458 6,142 7,812 4,253 8 7,332 9 6,447 10 9,526 11 12 13 14 15 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 -4,945 2.276 -2,949 -248 185 1.702 -1,757 240 788 2,135 —1.447 100 2.248 5,134 2.275 2,894 1.616 2.467 3 - Capital consump.allow., NIPA 4.454 = Net investment flow, 4 Balance Sheet basis 5 - Depreciation valuation add. 6 Depreciation charges 7 -Cap. consump. a l l o w . , NIPA 16 Revaluation by type of a s s e t Residential structures Nonres. plant 8 equipment Inventories • Change in the value of land holdings 17 • Other revaluations 18 * Change in nat worth Dete ire In million# of dollars. -2 8.505 3 2 11.175 8,628 1 10,498 4,122 4,253 3,665 268 320 4 12 13 14 15 3.345 16 - 17 8.436 18 April 1988 Farm & Noncorporate Business F a r e 8 Nonco rate Business 47 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1962 1960 Farm Business 3,690 Gross lnv.»Flow of Funds basis 3,442 3,548 3,627 3, 695 3,,705 3,705 3.761 -1,183 2,365 -939 - 2 ,,939 - 1 ,,683 -1,608 -1,763 3,485 3,599 3,659 3,,732 3,,740 3,734 3.762 -1,226 -2,416 -971 -2,,976 -1,,718 -1,637 -1,764 -2,622 5 6 7 139 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 3,954 3,762 203 4,010 3,807 8 9 10 11 1,532 3,624 3,304 2,858 1,620 3,746 2,508 1,413 1,723 3,816 4,126 252 65 3 ,900 3 ,713 1 ,524 1 ,156 3 ,916 3 ,548 1,027 821 3,917 3,711 1,884 2,098 3,954 4,168 8 710 • Reval. of physical assets Change in value 9 1,337 Depreciation charges 10 4,010 - G r o s s purchases, FOF basis 11 4,637 12 13 14 15 1,532 -9 1,085 456 2,858 -255 2,431 682 1,413 -243 1,081 575 252 -153 919 -514 1 ,524 -157 878 803 1,027 -176 1,039 164 1,884 -142 1,246 780 710 -348 1,187 -129 1,212 3,807 - Capital consump.allow., NIPA 4,272 6,546 16 - 2 , 5 0 5 • Proprietors' net investment 17 4,200 1,150 18 = Net Investment flow, Balance Sheet basis Depreciation valuation adj. Depreciation charges - C a p . consump. allow., NIPA Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 12 13 14 15 • Change in the value of land holdings 16 + Other revaluations 17 = Change in net worth 18 Nonfarm Noncorporate Business 1 7,355 7,784 7,986 8,226 8,469 8,635 8,864 9,t55 Gross lnv.,Flow of Funds basis 2 -97 1,452 1,161 371 -821 2,056 1,959 4,142 • Proprietors' net investment 2 3 7,355 7,784 7,986 8,226 8,469 8,635 8,864 9,155 - Capital consump.allow., NIPA 3 4 -97 1,452 1,161 371 -821 2,056 1,959 4,142 -430 8,205 8,635 -448 8,416 8,864 - 4 7 5 - Depreciation valuation adj. Depreciation charges 8,680 - C a p . consump. allow., NIPA 9,155 5 6 7 -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 8 9 10 11 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 10,890 649 2,679 8,056 10,086 -461 3,001 8,205 11,667 1,091 5,949 8,416 13,274 12 13 14 15 6,419 3,216 2,659 544 1,459 1,835 -637 261 1,740 1,699 -365 406 1,056 1,906 -295 -555 649 1,890 -803 -438 -461 1,492 -359 -1,594 1,091 1,005 -120 -1,858 -954 206 -1,151 16 5,293 3,154 5.505 3,590 4,895 5,663 3,514 5,507 17 -1 -2 1 9 -1 I 18 11*966 6,432 6,787 5,422 5,687 7,01$ Data are 1* millions e# dollars. - 5,136 = Net investment flow, Balance Sheet basis 1 4 5 6 7 8 - 1 , 8 5 8 • Reval. of physical assets Change in value 9 4,794 Depreciation charges 10 8,680 - G r o s s purchases, FOF basis 11 15,332 247 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • Change In the value of land holdings 1 • Other ravaluatlona 6 , 2 6 7 • Change In net worth 12 13 14 15 16 17 18 April 1988 Farm 8 Noncorporate Business 48 Farm & Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 Farm Business 1 Gross inv..Flow of Funds basis 2 • Proprietors' net investment 3 - Capital consump.allow., NIPA * Net investment flow. Balance Sheet basis 3.883 4.092 4.370 4,593 4,895 5,.312 5.,639 5.,957 1 -2.295 -1.201 -1,866 -287 242 -653 83 -935 2 3.893 4,046 4,288 4,552 4,852 5,,251 5,,631 5,,942 3 -2.305 -1.155 -1,784 -246 285 -592 91 -920 4 5 - Depreciation valuation adj. 6 Depreciation charges -Cap. consump. allow., NIPA 7 212 4.105 3.893 227 4.273 4,046 245 4,533 4,288 265 4,817 4,552 288 5,140 4.852 320 5 ,571 5.,251 349 5,,980 5.,631 373 6 ,315 5.,942 5 6 7 8 • Revel, of physical assets 9 Change in value 10 Depreciation charges -Gross purchases. FOF basis 11 475 355 4.105 3.985 3,571 5,756 4,273 6,458 1,660 3.024 4.533 5.897 1,272 3,501 4,817 7.046 4.780 5,991 5,140 6,351 6 ,579 7 , 788 5 • 571 6 ,780 2.,123 3,,530 5,,980 7,,387 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 475 256 602 -383 3,571 58 1.055 2.458 1.660 775 1.402 -517 1,272 440 989 -157 4,780 1*526 2,179 1.075 61,579 1 ,353 2 ,625 2 ,601 2.,123 744 2,,085 -706 8.643 10.633 8.100 9,529 6,283 2 ,910 3 ,806 4 12 13 14 15 + 16 Change in the value of land holdings 17 • Other revaluations 18 * Change in net worth - 6.601 - 12.822 - 7.731 - - 10,290 - 11,060 8 ,577 7,,404 8 10,,230 9 6,,315 10 9,,141 11 7,,404 1,,666 2 ,836 2 ,902 12 13 14 15 11 ,953 16 -188 728 17 5 ,483 18 ,792 18 Nonfarm Noncorporate Business 9.569 10 .101 10,850 11.614 12.583 13 ,831 14 ,971 16.426 1 2 • Proprietors' net investment 1.679 1 .575 1.123 -620 -2.134 - 3 ,762 - 5 ,623 -2.676 2 3 - Capital consump.allow.. NIPA 9.569 10 .101 10.850 11.614 12.583 13 ,831 14 ,971 16,426 3 Net investment flow. Balance Sheet basis 1 Gross inv.,Flow of Funds basis 1.679 1 .575 1.123 -620 -2,134 - 3 ,762 - 5 ,623 -2,676 4 5 6 7 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -499 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 -880 15,546 16,426 5 6 7 8 9 10 11 • Reval. of physical assets Change in value Depreciation charges -Gross purchases. FOF basis 3.315 10,171 9,070 15.926 3 ,294 11 ,081 9 ,564 17 ,351 9,806 15,793 10,267 16,254 5.098 11,356 10,985 17.243 17.149 23,872 11,899 18,622 15 ,473 25 .308 13 .066 22 .901 11 ,310 20 .851 14 .154 23 ,695 19,682 8 34,305 9 15,546 10 30,169 11 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 3,315 3.007 998 -690 3 ,294 1 ,638 1 ,682 -26 9,806 6.729 2.961 116 5.098 3.741 2.234 -877 17,149 12.398 4,604 147 15 .473 10 ,749 4 ,927 -203 11 ,310 5 .207 5 .665 438 19,682 11,018 6,852 1.812 • Change in the value of land holdings 4.218 3 ,968 8.445 2.252 4.858 5 .627 4 .057 6.912 16 • Other revaluations -3 -28 56 9 1 2 1 .884 -1.847 17 9*708 9 • 346 19.991 7.368 20.558 18 .105 12 .445 4 12 13 14 15 16 17 18 « Change In net worth Dete are In Billions of dollars. , 12 13 14 15 22.951 18 April 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements 4 9 Annual Flows Annual Flows 1972 1973 1974 1975 1976 1977 1978 1979 Farm Business 1 6 • 777 7 • 827 8 • 530 10 • 336 11 ,215 12 • 390 14 ,459 2 - 2 • 288 -1 • 825 - 4 • 932 - 1 • 746 - 7 ,055 - 5 • 782 - 8 ,737 3 6 • 605 7 • 228 8 • 308 9 • 789 10 ,771 12 • 099 13 ,557 16 • 258 Gross inv.,Flow of Funds basis -12,• 612 • Proprietors' net investment 15,• 343 - Capital consump.allow.» NIPA - 1 2 3 Net investment flow. Balance Sheet basis 4 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 5 6 7 4 - 2 • 116 - 1 • 226 - 4 • 710 - 1 • 199 - 6 ,611 - 5 • 491 - 7 ,835 -11 • 697 5 6 7 421 7 • 026 61• 605 467 7 • 695 7 • 228 549 8 • 857 8 • 308 672 10 • 461 9 • 789 768 11 • 539 10 • 771 891 12 ,990 12 • 099 1 ,027 14 ,584 13 ,557 1 ,193 16,,536 15,,343 8 9 10 11 13,• 693 15 • 943 7 • 026 9 • 276 24,• 697 31 • 084 7 • 695 14 • 082 14,• 828 17 • 182 8,• 857 11 • 211 5 • 662 12,• 105 10,,461 16 • 904 7 • 692 9 • 723 11 • 539 13 .570 10,• 969 17,• 067 12,• 990 19,• 088 33 ,290 39 ,576 14 ,584 20 ,870 18,• 034 + Reval. of physical assets 8 27,• 733 Change in value 9 16,,536 Depreciation charges 10 26,,235 -Gross purchases, FOF basis 11 12 13 14 15 13 • 693 1 • 698 3 • 957 8 • 038 24 • 697 2 • 791 4,• 113 17,• 793 14,• 828 3,• 496 12 • 820 -1,• 488 5 • 662 2,• 021 5 • 141 -1,• 500 7 ,692 3 • 210 7 • 035 - 2 • 553 10,• 969 4,• 600 8,• 350 -1,• 981 33 ,290 5 ,546 15 ,474 12 ,270 18,• 034 5,• 363 10,,716 1,,955 16 24 • 499 53 •885 29 • 635 46,,702 71,• 245 45,• 516 81 • 149 17 18 8 35 • 663 + 215 14 77 • 104 39,• 218 -11 50,,482 -37 71,• 521 - 50,,103 - 105 • 577 101,,700 -21 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 17 106,,823 = Change in net worth 18 Nonfarm Noncorporate Business 1 17,• 989 19,• 965 22,• 677 2 - 5 • 285 - 5 • 044 -9,•595 3 17,• 989 19,• 965 22,• 677 26,,107 28 • 514 31,,945 36,• 564 -12,,072 -16,• 208 -21,,526 -21,• 033 -31,.404 + 26,,107 28,• 514 31,,945 36,• 564 42,,935 - 42,,935 Gross inv.»Flow of Funds basis = 4 - 5 • 285 -5,• 044 -9,• 595 -12,,072 -16,,208 -21,,526 -21,• 033 -31,.404 5 6 7 -967 17,• 022 17,• 989 -1,• 087 18,• 878 19,• 965 -918 21,,759 22,,677 -1,,093 25,,014 26,,107 -1,,243 27,,271 28,,514 -1,,440 30,,505 31,,945 -1,• 673 34,,891 36,,564 -1,.967 40,.968 42,.935 8 9 10 11 17,• 880 39,• 997 17,• 022 39,• 139 30,,604 54,• 218 18,• 878 42,,492 53,,028 64,,200 21.,759 32,,931 29, 771 30, 366 25,.014 25,>609 46,,907 46,,986 27,,271 27,.350 65,,559 74,.336 30,.505 39,.282 96,,813 109,,288 34,,891 47,,366 12 13 14 15 17,• 880 11,• 512 5,• 525 843 30,,604 20,,633 9,• 101 870 53,,028 27,,683 24,,479 866 29,.771 21,.928 10,.787 -2,.944 46,.907 34,.328 12,.000 579 65,.559 50,.760 16,.205 -1..406 96,,813 66,,515 30,,478 -180 122. 083 98. 859 19. 191 4. 033 16 18,• 766 25,,841 26,,233 23. 638 33,,957 57..013 73,,228 91. 947 339 98 -1. 763 -310 11 1,,333 52,,827 70,,682 40. 667 65. 589 102..497 152,,014 17 18 2 32,• 330 D a t a are in millions of dollars. 1 Proprietors' net investment 2 Capital consump.allow., NIPA 3 Net investment flow, Balance Sheet basis 4 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 5 6 7 122,.083 + Reval. of physical assets 8 125, 427 Change in value 9 40, 968 Depreciation charges 10 -Gross purchases, FOF basis 11 44, 312 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 12 13 14 15 • Change in the value of land holdings 16 -170 + Other revaluations 17 184. 423 = Change in net worth 18 April 1988 Farm & Noncorporate Business 5 0 Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1980 1981 1982 1983 1984 1985 1986 1987 Farm Business 2 + Proprietors' net investment 3 - Capital consump.allow.. NIPA - 19 ,586 20 ,952 21 ,359 22 ,836 22 .858 21 .600 1 - 1 8 ,159 -11 ,092 -12 ,543 -16 ,809 2 ,336 1 .243 5 .738 8 .103 2 17 ,591 19 ,363 20 ,455 20 ,781 22 ,168 22 .001 21 .306 20 .671 3 18 ,056 21 t 1 Gross inv..Flow of Funds basis 4 Net investment flow, Balance Sheet basis - 1 7 ,694 -10 ,869 -12 ,046 -16 ,231 3 ,004 2 .100 6 .377 9 .032 4 5 6 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 1 ,399 18 ,990 17 ,591 I ,570 20 ,933 19 ,363 1 ,680 22 ,135 20 ,455 1 ,725 22 ,506 20 ,781 432 22 ,600 22 ,168 124 22 .125 22 .001 126 21 ,432 21 .306 154 20 ,825 20 .671 5 6 7 Reval. of physical assets Change in value Depreciation charges -Gross purchases. FOF basis 31 ,021 26 ,169 18 ,990 14 ,138 11 ,553 14 ,736 20 ,933 24 ,116 5 ,441 - 2 ,889 22 ,135 13 ,805 20 ,284 4 ,460 22 ,506 6 ,682 2 ,744 2 ,050 22 ,600 21,,906 - 1 .323 - 1 5 .893 22 .125 7 .555 2 .451 - 8 ,935 21 ,432 10 ,046 14 .179 8 10 ,715 9 20 ,825 10 17 ,361 11 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 31 ,021 4 ,846 16 ,447 9 ,728 11 ,553 4 ,549 15 ,702 - 8 ,698 5 ,441 -540 6,,837 -856 20 ,284 3 ,156 9 ,536 7 ,592 2,,744 2,,206 6,,193 - 5 ,655 - 1 ,323 1 ,516 3 .277 - 6 ,116 2 ,451 2 ,359 3 ,441 - 3 ,349 14,,179 2 ,136 8 ,099 3 ,944 Change in the value of land holdings 69 ,154 -11 ,095 -38 ,978 -16 ,868 -113,,056 - 8 7 ,341 -54 ,818 - 4 ,071 1 49 62 -16 ,052 -47,,262 -14 ,491 -107,,678 8 9 10 11 + 12 13 14 15 + 16 17 + Other revaluations 18 = Change in net worth - 81 ,082 - -86 ,688 12 13 14 15 74 ,564 16 570 515 17 -45 ,546 98 ,136 18 Nonfarm Noncorporate Business 1 Gross inv..Flow of Funds basis 2 + Proprietors' net investment 3 - Capital consump.allow.. NIPA Net investment flow, Balance Sheet basis 4 49 ,850 57 ,359 63,,767 65 ,800 67,,715 70 ,301 72,,955 78,,942 1 -30,,961 - 1 7 ,687 -32,,714 - 7 2 ,665 -75,,116 - 6 7 ,024 -90,,891 -105,,434 2 49,,850 57,,359 63,,767 65 ,800 67,,715 70 ,301 72,,955 78,,942 3 -30,,961 -17,,687 -32,,714 - 7 2 ,665 -75,,116 - 6 7 ,024 -90,,891 -105,,434 4 -2,,878 62,,922 65,,800 -1,,653 66,,062 67,.715 -1,,427 68,,874 70,,301 -1,,584 71,,371 72,,955 -4, 571 74, 371 78, 942 5 6 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -2,,308 47,,542 49,,850 -2,,603 54,,756 57,,359 -2,.782 60,.985 63,.767 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 132,,034 131,,085 47,,542 46,-593 120,,074 136,,836 54,,756 71,,518 36,.309 40,.536 60,.985 65,.212 50,,141 57,,824 62,,922 70,,605 68,.196 82,.578 66,.062 80, 444 54,,304 68,,760 68,,874 83,,330 47,,092 65, 806 71,,371 90,,085 75, 041 8 76, 314 9 74, 371 10 75, 644 11 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 132,,034 98,.271 31, 524 2, 239 120,.074 92,.224 34,.925 -7,.075 36,.309 22, 788 11, 972 1,549 50,.141 44,,108 5,.386 647 68, 196 62,.134 12. 172 -6. 110 54,,304 50,,871 8,,483 -5,,050 47,,092 44, 223 11. 666 -8, 797 75, 041 64, 270 13. 110 -2. 339 16 Change in the value of land holdings 102, 877 113,.136 55, 942 69,.190 75. 592 74,,975 97, 387 56, 814 16 17 Other revaluations 435 5,.159 3, 750 -909 -3. 602 1,,099 1. 196 -25. 044 17 206, 693 223, 285 66, 069 48,.635 66. 723 64, 781 56. 368 5. 948 18 5 6 7 8 9 10 11 + 12 13 14 15 + 18 = Change in net worth Data are in millions of dollars. 12 13 14 15 April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statement 51 Annual Flows Annual Flows 1948 1949 1950 1951 1952 1953 1954 1955 Nonfinancial Corporate Business, Excluding Farms 25, 634 Gross inv..Flow of Funds basis 1 1. 719 + Corporate equity issues - Min. rights from U.S. govt. 2 3 1 15,838 17, 972 16, 380 21, 730 21, 954 22, 241 22, 466 2 3 1, 000 1,212 1,288 2, 107 2, 320 1. 766 1,583 4 5 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 17, 785 -1, 750 6 8, 566 6, 124 10, 610 11, 203 8, 434 9, 155 7, 584 11, 318 - - - - - Capital consump.allow., NIPA Inventory valuation adj. 4 5 - Net investment flow. Balance Sheet basis 6 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 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 - 7 8 9 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 -1 17,,784 17,,785 - 10 11 12 13 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 10,,438 26,,953 17,,784 34,,299 • 14 15 16 17 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 3,,465 -361 3,,947 -121 1,,641 -105 1 ,669 77 1,,231 -554 1,,589 196 10,,438 -234 9,,651 1,,021 18 2 ,455 1 ,940 2,,932 3,,381 2 ,983 3 ,987 5,,306 4 ,642 19 20 21 538 1 ,259 721 415 1 ,075 660 467 1,,088 621 683 1 • 191 508 890 1 ,742 852 797 1 ,532 735 711 1,,378 667 941 1,,764 823 • Reval. of fgn. dir. invest. Change in value -Direct investment 19 20 21 22 23 24 150 184 34 98 154 56 370 450 80 155 287 132 148 306 158 258 382 124 246 443 197 - Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 99 + Other revaluations 25 - - ~ 177 267 90 -3 -300 1 26 19 ,174 10 ,273 23 ,148 24 ,065 15 ,612 15 ,130 14 ,576 27 8 ,566 6 ,124 10 ,610 11 ,203 8 ,434 9 ,155 7 ,584 28 29 30 31 -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 -783 13 ,645 9 ,988 24 ,416 -915 15 ,304 11 ,016 27 ,235 - 1 ,406 10 ,033 12 ,125 23 ,564 -1 ,908 19 ,209 13 ,182 34 ,299 32 244 194 294 321 -261 552 345 655 33 34 35 - 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 - 4 ,603 13 ,182 17 ,785 36 538 415 467 683 890 797 711 37 150 98 370 177 155 148 258 38 - -1 - - -3 -300 1 99 12 ,974 13 ,977 11 ,617 25 - -1 - - 27 ,193 = Change in net worth 26 Tangibles and net worth <on historical cost basis: 39 12 ,118 10 ,108 13 ,518 16 .171 11 ,318 = Net investment flow 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 34 Depreciation charges -Cap. consump. allow., NIPA 35 941 + Reval. of fgn. dir. invest. 36 246 - Reval. of dir. inv. in U.S. 37 • Other revaluations 38 15 ,462 = Change in net worth (1) Before inventory valuation adjustment. Data are in millions of dollars. 27 • 39 April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business 52 Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 Nonfinancial Corporate Business, Excluding Farms 1 Gross inv.,Flow of Funds basis 2 3 4 5 6 • - + 28 ,418 26 ,974 31 ,798 28 ,803 31 .602 39 ,151 38 ,787 1 2 ,250 2 ,441 1 ,968 2 ,078 1 ,365 2 ,121 369 -341 2 3 20 ,032 - 2 ,675 22 ,048 -1 ,525 23 ,059 -250 24 ,135 -277 25 ,134 -173 25 ,882 271 26 ,827 26 28 ,002 54 6 ,133 10 ,018 5 ,207 7 ,570 12 ,667 10 ,390 6 " - 10 ,853 10 ,336 -1 20 ,031 20 ,032 2 ,050 22 ,048 23 ,059 23 ,059 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 15 ,717 35 ,539 20 ,031 39 ,853 6 ,518 21 ,724 22 ,050 37 ,256 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 15 ,717 232 15 ,009 476 - - - - - - 4 5 24 ,135 24 ,135 1 25 ,135 25 ,134 25 ,882 25 ,882 26 ,827 26 ,827 28 ,002 28 ,002 7 8 9 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 1 ,783 18 ,300 28 ,002 44 ,519 10 11 12 13 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 1 ,783 -279 784 1 ,278 14 15 16 17 - + Change in the value of land holdings 7 ,382 7 ,559 6 ,744 5 ,787 5,,097 5 ,622 1 ,916 1 ,973 18 + Reval. of fgn. dir. invest. Change in value -Direct investment 1,,159 3 ,110 1,,951 447 2 ,889 2 ,442 834 2 ,015 1 ,181 1 ,046 2 ,418 1 ,372 -902 2,,038 2,,940 198 2 ,852 2 ,654 -292 2 ,559 2 ,851 -23 19 3 ,460 20 3 ,483 21 Reval. of dir. inv. In U.S. Change in value -Direct investment 151 383 232 96 251 155 307 405 98 251 489 238 -9 306 315 171 482 311 -126 220 346 101 22 332 23 231 24 18 22 23 24 25 25 ,960 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA Balance Sheet basis 14 15 16 17 19 20 21 Capital consump.allow., NIPA Inventory valuation adj. S Net investment flow. 7 8 9 10 11 12 13 Corporate equity issues Min. rights from U.S. govt. • Other revaluations 26 = Change in net worth -1 1 -1 -158 1 -102 -7 45 25 34,,960 24,,763 15 ,291 20,,291 7,,760 12,,754 13,,869 14,,067 26 Tangibles and net worth on historical cost basis: 27 = Net investment flow 10,,853 10,,336 6 ,133 10,,018 5,,207 7,,570 12,,667 10,,390 27 28 29 30 31 -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 -1,,960 20,,195 21,,584 43,,739 -75 21,,478 22,,966 44,,519 + 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 1,,212 745 1,,514 1,,607 1,,519 2,,054 1,,858 1,858 32 -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 21,,584 26,,827 -5,,036 33 22,,966 34 28,,002 35 36 + Reval. of fgn. dir. invest. 1,,159 447 834 1,,046 902 198 -292 -23 36 37 - Reval. of dir. inv. In U.S. 151 96 307 251 -9 171 -126 101 37 -1 1 -1 -158 1 •102 -7 45 38 17,,656 16,,458 12,,671 17,,707 11, 004 15, 341 17, 635 17, 130 39 38 Other revaluations 39 = Change in net worth (1) Before inventory valuation adjustment. Data are in millions of dollars. April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statement 53 Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 Nonfinancial Corporate Business. Excluding Farms 1 43. 172 50, 186 56, 950 57,,029 57,,302 62, 338 58,,456 70,,104 Gross inv..Flow of Funds basis 1 2 3 1, 145 -28 1, 259 2,,397 -159 1 ,330 3,,406 44 5,,694 329 11,,435 717 Corporate'equity issues Min. rights from U.S. govt. 2 3 4 5 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 54,,783 -4,,584 Capital consump.allow., NIPA Inventory valuation adj. 4 5 6 15. 363 19, 944 26,,035 23,,424^ 18 ,016 26,,171 20,,516 30,,623 Net investment flow. Balance Sheet basis 6 -1 41 ,447 41 ,448 45,,399 45,,399 49 ,857 49 ,857 1 54,,784 54 ,783 Depreciation valuation adj. Depreciation charges -Cap. consump. allow.. NIPA 7 8 9 7 8 9 - - - - - 29, 448 29, 448 1 31,,460 31,,459 34,,281 34,,281 1 37,,557 37,,556 10 11 12 1$ 4,.431 25,,552 29,,448 50,,569 6,,699 38,,087 31,,460 62,,848 13,,508 56,,634 34,,281 77,,407 13,,609 48 ,794 37,,557 72,,742 27 ,035 63 ,303 41 ,447 77 .715 28,,472 72,,191 45,,399 89,,118 30 ,911 66,,490 49 ,857 85,,436 36 ,296 70 ,493 54,,784 88 ,981 14 15 16 17 4,,431 182 3,,204 1,,045 6,,699 -116 6 ,732 83 13,,508 868 12,,405 235 13,,609 -520 12,,696 1,,433 27 .035 1 .114 24 .324 1 .597 28,,472 1 ,401 24 ,469 2,,602 30 ,911 497 31 ,901 -1,,487 36 ,296 1 ,165 34 ,704 427 18 3,,091 3,,251 3,,654 234 26 3,,654 2,,651 2 ,979 19 20 21 -15 3 ,744 3,,759 -17 4,,803 4 ,820 -3,,101 1,,724 4 ,825 -38 4,,322 4,,360 53 3 .218 3 .165 226 5,,157 4 ,931 -203 6 ,565 6 ,768 -338 6 ,119 6 ,457 22 25 24 97 419 322 20 434 414 -169 257 426 171 869 698 84 892 808 -260 1,,003 1,,263 -12 1 ,452 1 ,464 276 644 368 892 + - Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 10 11 12 13 Revaluation by type of asset Residential structures Nonres. plant & 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 25 224 26 -45 88 773 -155 -47 26 22 ,997 29 ,882 40,,220 37,,145 45 .820 58,,628 53 ,840 27 15 ,363 19,,944 26,,035 23,,424 18 .016 26 ,171 20 .516 30 .623 = Net investment flow 28 29 30 31 -629 25 ,441 24 ,499 50 ,569 -1 ,721 34 ,763 26 ,364 62 ,848 -2,,164 46,,603 28,,640 77 ,407 -1,,064 40 ,551 31 ,127 72,,742 -33 43 .994 33 .688 77 .715 653 53 ,044 36 ,727 89 ,118 -712 44 .834 39 .890 85 ,436 - 2 ,807 43 ,205 42 .969 88 ,981 32 1 ,988 2 ,576 2 ,349 2,,175 2 .290 4 ,258 1 .652 1 ,935 33 34 35 - 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 -11 .814 42 .969 54 .783 • 70 ,175 = Change in net worth 25 26 Tangibles and net worth <tm historical cost basis: 27 + Reval. of physical assets Change in value Depreciation charges -Gross purchases CI) 28 29 30 31 + Change in the value of land holdings 32 - Depreciation valuation adj. 33 Depreciation charges 34 -Cap. consump. allow., NIPA 35 36 -15 -17 - 3 ,101 -38 53 226 -203 -338 + Reval. of fgn. dir. invest. 36 37 97 20 -169 171 84 -260 -12 276 - Reval. of dir. inv. in U.S. 37 38 224 26 -45 88 773 -155 -47 892 + Other revaluations 39 21 .783 25 .883 28 ,884 30 ,843 28 ,775 40 .085 31 ,185 41 .843 = Change in net worth CI) Before inventory valuation adjustment. Data are in millions of dollars. 38 39 April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business 5 4 Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows Nonfinancial Corporate Business, Excluding Farms 78 ,027 88 ,080 86,,242 119 ,821 133 ,269 145 ,837 163 ,394 215 ,481 1 - Corporate equity issues Min. rights from U.S. govt. 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 - 7 ,836 4 ,745 2 3 - Capital consump.allow., NIPA Inventory valuation adj. 60 ,111 - 6 ,610 65 ,223 -20,,022 76 ,301 -39,,457 91 ,878 - 1 0 ,952 102 ,301 - 1 4 ,911 114,,321 -16,,637 129 ,844 -25 ,298 149 ,609 -43,,175 4 5 Net investment flow. Balance Sheet basis 34 ,536 47 ,594 47,,005 47 ,480 52 ,430 48 ,410 56 ,774 96 ,466 6 1 129 ,845 129 ,844 -1 149 ,608 149 ,609 7 8 9 1 Gross inv.,Flow of Funds basis 2 5 4 5 + = 6 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 10 11 12 13 + Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories CI) 14 15 16 17 % - -2 60 ,109 60 ,111 65 ,223 65 ,223 76 ,301 76 ,301 91 ,876 91 ,878 102 ,301 102 ,301 1 114 ,322 114 ,321 31 ,863 72 ,428 60 ,109 100 ,674 59 ,236 129 ,855 65 ,223 135 ,842 171 ,391 266,,633 76,,301 171 ,543 94 ,511 124 ,518 91 ,876 121 ,883 74 ,435 139,,992 102 ,301 167 ,858 96 ,636 176 ,086 114 ,322 193 ,772 162 ,299 272,,776 129,,845 240 ,322 148 ,268 275,,387 149,,608 276,,727 10 11 12 13 31 ,863 1 ,986 28 ,056 1 ,821 59,,236 2,,643 47,,842 8,,751 171,,391 2 ,771 152,,200 16,,420 94 ,511 1 ,517 88 ,363 4 ,631 74 ,435 932 68,,004 5 ,499 96 ,636 813 87 ,943 7,,880 162 ,299 2 ,316 143,,450 16 ,533 148 ,268 3 ,944 119 ,861 24 ,463 14 15 16 17 • Change in the value of land holdings 8 ,399 12,,407 22,,891 6 ,125 13 ,932 22,,653 33,,929 32 ,031 18 • Reval. of fgn. dir. invest. Change in value -Direct investment -629 5 ,115 5 ,744 82 10,,212 10,,130 -287 8 ,649 8 ,936 -272 13 ,776 14 ,048 810 12 ,443 11,,633 - 2 ,709 8 ,799 11,,508 286 16,,379 16,,093 -346 19 26 ,479 20 26,,825 21 Reval. of dir. inv. in U.S. Change in value -Direct investment 6 954 948 2 ,888 5 ,688 2 ,800 -173 4 ,588 4 ,761 -85 2 ,518 2 ,603 - 1 ,238 3,,108 4,,346 97 3 ,825 3 ,728 -20 7,,876 7,,896 115 22 11,,991 23 11,,876 24 18 19 20 21 Reval. of physical assets Change in value Depreciation charges -Gross purchases CI) - 22 23 24 25 + Other revaluations 26 = Change in net worth 108 -137 28 ,444 -34 3,,151 -1,,511 135 903 25 74 ,273 116,,294 269 ,617 147 ,897 145,,996 163,,381 253,,442 277,,208 26 47,,594 47,,005 47 ,480 52,,430 48,,410 56,,774 96 ,466 27 1,,347 86 ,429 50 ,760 135 ,842 7 ,208 123 ,071 55 ,680 171,,543 3 ,494 64 ,361 61 ,016 121 ,883 -3,,057 98 ,002 66,,799 167 ,858 570 120,,339 74 ,003 193 ,772 1,,809 159 ,120 83,,011 240,,322 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 36 37 38 34 ,536 1 ,615 55 ,464 46 ,825 100 ,674 6,,877 189 ,273 94 ,331 276,,727 28 29 30 31 2 ,871 4 ,518 3 ,889 1 ,178 1 ,514 2 ,936 4 ,222 3,,615 32 -13 ,286 46 ,825 60 ,111 -14,,463 50 ,760 65 ,223 -20,,621 55 ,680 76,,301 - 3 0 ,862 61 ,016 91 ,878 - 3 5 ,502 66 ,799 102,,301 -40,,318 74 ,003 114,,321 -46,,833 83,,011 129,,844 -55,,278 33 94,,331 34 149,,609 35 -346 36 • Reval. of fgn. dir. invest. -629 82 -287 -272 810 - 2 ,709 286 - Reval. of dir. inv. in U.S. 6 2 ,888 -173 -85 -1,,238 97 -20 115 37 108 -137 28,,444 -34 3,,151 -1,,511 135 903 38 51 ,781 64 ,979 107 ,053 8 2 ,793 91 ,588 87 ,917 110,,079 162,,678 39 Other revaluations 39 = Change in net worth (1) Before inventory valuation adjustment. Data are in millions of dollars. April 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statement 55 Annual Flows 1980 Annual Flows 1981 1982 1983 1984 1985 1986 1987 Nonfinancial Corporate Business, Excluding Farms 1 206, 275 224. 700 218. 321 253. 135 305,,790 305. 472 299,,975 305,,355 Gross lnv..Flow of Funds basis 1 2 3 12,875 4, 997 -11. 450 4. 847 11. 386 7. 791 28. 311 7. 785 -74,,475 7,,902 -81, 500 4. 376 -80,,750 7,,194 -76,,500 + Corporate equity issues 2,,936 - Min. rights from U.S. govt. 2 3 4 5 171. 262 -43, 129 198, 782 -24,,189 221,,393 -10,,350 228,,196 -10,,900 238,,436 -5,,800 251, 167 -750 262,,833 6,,550 274,,319 -17,,324 6 86, 020 33,,810 10,,873 56,,365 -9,,223 -30, 821 -57,,352 7 8 9 -1 171. 261 171, 262 1 198,,783 198,,782 9 221,,402 221,,393 -12 228,,184 228,,196 6 238,,442 238,,436 11 251,,178 251,,167 10 11 12 13 208, 599 319,>169 171,,261 281,,831 215,,129 322,,219 198,,783 305,,873 76,,705 114,,322 221,,402 259,,019 29,,297 78,,917 228,,184 277,,804 69 ,224 199 .595 238 ,442 368 .813 14 15 16 17 208,,599 4,,411 186,,480 17,,708 215,,129 4,,712 193,,165 17,,252 76,,705 -1,,018 81,,745 -4,,022 29,,297 -2,,183 27,,813 3,,667 18 50,,710 51,,935 31,,015 19 20 21 6,,671 30,,227 23,,556 3,,774 16,,359 12,,585 22 23 24 11,,666 28,,584 16 ,918 472 25 .668 25,.196 Capital consump.allow., NIPA Inventory valuation adj. 4 5 -31,,076 Net investment flow, Balance Sheet basis 6 -12 262,,821 262,,833 429 274,,748 274,,319 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 28,,587 116,,541 251,,178 339,,132 51,,473 114,,128 262,,821 325,,476 80,,013 + Reval. of physical assets Change in value 181,,914 Depreciation charges 274,,748 -Gross purchases (1) 376,,649 69 .224 1 .486 58 .497 9 ,241 28,,587 1,,322 21,,574 5,,691 51,,473 -124 48,,664 2,,933 80,,013 1,,196 61,,846 16,,971 24,,440 38 ,994 30,,682 33,,634 23,,199 -21,,673 -11,,479 10,,194 -7,,235 2,,587 9,,822 - 7 .226 6 .007 13 ,233 6,,433 15,,228 8,,795 10,,927 25 ,036 14,,109 9 ,067 26,,122 17,,055 2,,171 15,,963 13 ,792 437 12,,384 11,,947 2 .163 27 ,522 25 ,359 1,,010 20,,032 19,,022 -339 24,,714 25,,053 - 10 11 12 13 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories CI) 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 34,,270 34,,270 Revel, of dir. lnv. in U.S. Change in value -Direct investment 22 23 24 -9,,048 Other revaluations 25 25 1 ,184 -38 -235 -3,,192 56 -3,,103 2 ,151 26 341 ,519 304 ,137 94 .505 99,,250 89 ,656 30,,757 41,.184 27 86 ,020 33 ,810 10 .873 56,.365 - 9 ,223 -30,,821 - 5 7 .352 -31,,076 = Net Investment flow 28 29 30 31 6 ,703 182 ,129 106 ,405 281 ,831 13 ,562 199 ,712 119 ,723 305 ,873 -11 ,025 114 ,148 133 ,846 259 ,019 -5,,397 125 ,128 147 ,279 277 .804 6 ,321 213 ,330 161 ,804 368 ,813 7 ,804 168,,428 178 ,508 339,,132 7 .075 138 .469 194 ,082 325 .476 4 ,231 172,,430 208,,450 376,,649 32 6 ,570 7 ,854 5 ,442 7 .670 7 ,583 8 ,190 5 .528 3 ,532 33 34 35 -64 ,857 106 ,405 171 ,262 -79 ,059 119 ,723 198 ,782 - 8 7 ,547 133 ,846 221 ,393 - 8 0 .917 147 .279 228 ,196 -76 ,632 161 ,804 238 ,436 -72,,659 178 ,508 251 ,167 - 6 8 ,751 194 ,082 262 ,833 - 6 5 ,869 208 ,450 274 ,319 71,,726 = Change in net worth 26 Tangibles and net worth on historical cost basis: 36 6 ,671 3 ,774 -21 ,673 - 7 ,235 - 7 ,226 6 .433 10 ,927 37 11 ,666 472 2 ,171 437 2 ,163 1 .010 -339 38 1 ,184 -38 -235 - 3 .192 56 - 3 .103 2 ,151 39 160 ,339 137 ,549 68 ,758 128 ,691 71 ,980 60 ,152 37 ,419 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 9,.067 + Reval. of fgn. dir. invest. 36 - Reval. of dir. inv. in U.S. 37 - 9 .048 + Other revaluations 38 42 ,575 > Change in net worth 39 - (1) Before inventory valuation adjustment. Data are in millions of dollars. 27 • April 1988 Private Financial Institutions 56 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows Private Financial Institutions 1 Gross inv..Flow of Funds basis 2 • Corporate equity issues 3 - Mutual fund shares issued 178 96 358 327 357 239 4 - Capital consump.allow.. NIPA 488 297 706 531 610 408 856 522 832 780 4 7.262 7.258 53 7.758 7.705 2.265 10.273 -193 215 408 1.441 1.963 522 949 9 1.729 10 780 11 260 271 283 • Net investment flow. 5 Balance Sheet basis 1.146 957 1.881 - Reval. of life insur. and 6 pension fund reserves 7 Change in liability 8 -Net claims issued 4.259 4.259 4.464 4.464 5.779 5.779 5.411 5.411 9 - Reval. of mutual fund shares 10 Change in value 11 -Shares issued 7 103 96 1.228 1.555 327 35 274 239 -160 137 297 -81 12 - Depreciation valuation adj. 13 Depreciation charges 14 -Cap. consump. allow.. NIPA 260 260 271 271 283 283 325 325 351 352 374 375 409 409 12 434 13 434 14 15 16 17 18 • Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases. FOF basis 130 223 260 353 -13 73 271 357 220 331 283 394 313 419 325 431 -56 149 351 556 207 265 374 432 13 257 409 653 359 672 434 747 19 • Change in the value of land holdings -73 288 361 2.506 878 1.628 358 1.347 989 120 845 725 166 1.609 1,443 -221 1.075 1.296 3.052 4.787 1.735 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. 2.027 7 6.662 6.655 450 531 -1 -1 8.008 15 16 17 18 4.774 20 6.416 21 1.642 22 -22 -23 -30 -48 -43 -69 -80 -109 23 1.207 1.334 2.447 1.743 2.202 1.923 5.026 3.722 24 April 1988 Private Financial Institutions Private Financial Institutions 57 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 Private Financial Institutions 1 2 ,113 2.155 3 .151 2.618 3 ,262 3 ,846 4.171 2*297 Gross inv..Flow of Funds basis 2 3 1 ,378 1 ,049 1.409 1.070 1 .798 1 .596 1.965 1.698 1 ,584 1 ,383 2 ,559 2 ,125 1.901 1.661 1.739 • Corporate equity issues 1.400 - Mutual fund shares issued 4 503 553 576 609 652 685 726 5 1 ,939 1.941 2 .777 2.276 2 ,811 3 ,595 3.685 794 - Capital consump.allow.. NIPA = Net investment flow. 1.842 Balance Sheet basis - Reval. of life insur. and 3.926 pension fund reserves 16.508 Change in liability 12.582 -Net claims issued 1 4 5 6 7 8 5 8 ,348 8 ,343 -662 8.304 8.966 2 ,733 12 ,121 9 ,388 1.246 12.122 10.876 88 10,,634 10 ,546 4 ,201 15 ,275 11 ,074 -3.274 8.632 11.906 9 10 11 159 1 ,208 1 ,049 -1.402 -332 1.070 2 ,931 4 ,527 1 ,596 879 2.577 1.698 -175 1,,208 1 ,383 3,,724 5 ,849 2,,125 -3.265 -1.604 1.661 2.543 - Reval. of mutual fund shares 9 3.943 Change in value 10 1.400 -Shares issued 11 12 13 14 503 503 -1 552 553 576 576 609 609 652 652 685 685 -1 725 726 - 1 - Depreciation valuation adj. 12 793 Depreciation charges 13 794 -Cap. consump. allow.. NIPA 14 15 16 17 18 479 728 503 752 142 453 552 863 61 351 576 866 113 527 609 1.023 280 435 652 807 115 458 685 1.,028 576 833 725 982 164 717 793 1.346 19 203 210 218 217 216 271 221 182 20 21 22 304 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 -7.695 -3.490 4.205 - 23 -125 -154 -155 -38 -125 257 -15 24 2,,636 1.594 5,,463 3.369 3, 458 7.,055 3.312 Data are In millions of dollars. 6 7 8 • Reval. of physical assets (nonres. plant 8 equipment) Change In value Depreciation charges -Gross purchases. FOF basis 15 16 17 18 + Change in the value of land holdings 19 8.837 • Reval. of corp.equity hldgs. 20 12.733 Change in value 21 3.896 -Net purchases 22 - 3 7 0 • Other revaluations 23 4.187 = Change in net worth 24 April 1988 Private Financial Institutions UO Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 Private Financial Institutions / 1 Gross inv.,Flow of Funds basis 2 3 4 * - Corporate equity issues Mutual fund shares issued Capital consump.allow.• NIPA 5 Net Investment flow. -Balance Sheet basis 6 7 8 Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 3, 698 3,.040 2,,861 3,.628 6.,384 1. 111 704 6,,663 1 2,.178 2,• 006 3,.247 3,,220 3,,710 3,,634 2..615 2,,535 5,,797 4,,816 7, 418 5,.735 4, 780 2. 551 3,,541 915 2 980 1,,109 1.,273 1,,497 1, 644 1. 799 2,,031 4 2,,087 1,,828 2 ,435 5,,868 1..150 •274 7,,258 5 4,,064 19 ,092 15,,028 4,,103 19,,640 15,,537 - 5 ,000 12 ,967 17 ,967 8 ,396 25,,755 17,,359 6 ,590 25 ,210 18 ,620 -6,,084 14,,168 20,,252 2,.201 23,.903 21,.702 15,.451 40,.514 25,,063 6 7 8 2 ,109 6 ,925 4 ,816 -9,,380 -3,,645 5,,735 -3,.327 776 2,.551 7,,720 9 8,,635 10 915 11 867 3,, 003 5 9 10 11 Reval. of mutual fund shares Change in value -Shares issued 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 -1 866 867 -1 979 980 -1 1 ,108 1 ,109 1 ,273 1,,273 1 ,497 1 ,497 1,,644 1,,644 -1 1, 798 1,.799 - 1 12 2,,030 13 2,,031 14 Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 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 -19 3,,441 2,,030 5 ,490 • 15 16 17 18 + Change in the value of land holdings 20 21 22 + Reval. of corp.equity hldgs. Change in value -Net purchases 23 + Other revaluations 19 24 X Change in net worth Data are In millions of dollars. - - - 15 16 17 18 262 232 173 -39 121 220 133 183 19 8 ,904 12 ,817 3 ,913 9 ,191 15 ,211 6 ,020 -10 ,103 - 4 ,395 5 ,708 18 ,836 27 ,847 9 ,011 12 ,007 22 ,789 10 ,782 -16 ,246 — 4 ,416 ! 11 ,830 -1,,916 9,,031 10,,947 25 ,871 20 45 ,458 21 19,,587 22 -345 49 -191 449 118 - 1 ,323 212 976 23 -1,,257 11,,099 24 6 ,529 5 ,292 1 ,321 6 ,794 8 ,735 - 1 ,516 April 1988 Private Financial Institutions Private Financial Institutions 59 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1975 1976 Private Financial Institutions 1 3,.014 8,,393 3,,308 - 7 ,764 8 .330 12 ,742 24 ,313 2 3 4 , 351 -61 3,,499 61 2,,764 722 3 ,751 -92 1 .880 - 1 .977 3 ,679 967 2 ,070 -72 2 ,994 382 - 4 2,,267 2 ,571 3,,219 3 ,908 4 ,548 5 ,324 6 ,391 7 .623 - 5 5,, 159 9,,260 2,,131 - 7 ,829 7 ,639 10,,130 20 ,064 24 ,008 29 .019 Gross Gr 9.019 inv..Flow of Funds basis Capital consump.allow.. NIPA Balance Sheet basis - Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 1 4 5 6 7 8 11,,841 57,• 147 45 • 306 -25,,868 11,,708 37,,576 -29,,243 11,,612 40,,855 34 ,895 103,,020 68 ,125 15 ,572 67 ,475 51 ,903 -16,,185 55,,726 71,,911 17 ,354 105 ,156 87 ,802 14 .423 108 ,077 93 ,654 9 10 11 3 ,541 3 ,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 ,020 967 631 559 -72 5 ,357 5 ,739 382 Reval. of mutual fund shares 9 Change in value 10 -Shares issued 11 12 13 14 2 ,267 2 ,267 -1 2,,570 2,,571 3,,219 3,,219 -1 3,,907 3,,908 -1 4 ,547 4 ,548 -1 5 ,323 5,,324 6 ,391 6,,391 7 ,623 7 ,623 Depreciation valuation adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA 14 15 16 17 18 -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 3,,724 9,,733 7 ,623 13,,632 19 188 251 508 -325 146 263 733 53 20 21 22 20,,595 42,,122 21,,527 -44,,439 -32,,743 11,,696 -51, 697 —461 723 4, 974 46,,244 57,,935 11,,691 24,,853 36,,343 11,,490 -18, 879 -7,,935 10,,944 22,,035 34, 357 12,,322 23,,475 40,,270 16,,795 + • - - 23 165 -292 -538 -1,,869 2,,974 1, 195 -887 681 24 9,,573 2,,955 -3, 748 -5,,151 17,,645 15, 075 31, 432 32,,161 Data are in millions of dollars. * * Reval. of physical assets Cnonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases. FOF basis 6 7 8 15 16 17 18 land holdings Change in value -Net purchases 20 21 22 23 24 April 1988 Private Financial Institutions 60 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1983 Private Financial Institutions 1 Gross lnv..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 insur. and pension fund reserves Change in liability -Net claims issued 26, 499 1. 400 5, 985 16, 528 -2,,904 29, 222 25,,348 39,,121 1 97, 675 85, 670 171,,571 163,,270 69,,594 64,,466 2 3 4, 548 2, 865 5, 729 3, 717 13,,006 8,,769 29, 825 27, 224 37,,122 29,,340 8, 871 10, 485 12,,025 12,,900 14,,475 16,,400 18,,450 20,,425 4 19,,311 -7,,073 -1,,803 6,,229 -9,,597 24,,827 15 ,199 23,,824 5 40,,225 149,,935 109,,710 -27,,833 80,,038 107,,871 41,,833 168,,906 127,,073 61,,934 201,,286 139,,352 -12,,693 121 ,520 134 ,213 94,,839 270,,234 175,,395 78 ,901 259 ,560 180,,659 20,,966 245,,263 224,,297 6 7 8 9 10 11 Reval. of mutual fund shares Change in value -Shares issued 7,,155 10,,020 2 ,865 -5,,684 -1,,967 3,,717 8,,241 17,,010 8,,769 8 ,046 35,,270 27,,224 -4,,782 24 ,558 29,,340 17,,881 103,,551 85 ,670 9,,973 173,,243 163,,270 -22,,884 9 41,,582 10 64,,466 11 12 13 14 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 ,871 8 ,871 10,,485 10,,485 -7 12,,018 12,,025 32 12,,932 12,,900 -16 14 ,459 14 ,475 -20 16,,380 16,,400 23 18,,473 18 ,450 287 12 20,,712 13 20,,425 14 Reval. of physical assets (nonres. plant & equipment) Change in value Depreciation charges -Gross purchases, FOF basis 7 ,725 12 ,976 8 ,871 14 ,122 7 ,857 13 ,391 10,,485 16 ,019 3 ,531 8 ,772 12 ,018 17,,259 628 7 ,067 12 ,932 19 ,371 I ,829 17 ,088 14 ,459 29 ,718 -3,,820 16 ,714 16 ,380 36 ,914 2 ,131 23 ,974 18 ,473 40 .316 -3,,341 17,,776 20,,712 41,,829 * 15 16 17 18 * Change in the value of land holdings 20 21 22 * Reval. of corp.equity hldgs. Change in value -Net purchases 23 • Other revaluations 24 = Change in net worth 19 Data are in millions of dollars. 15 16 17 18 763 845 357 488 1 ,196 1 ,119 1 ,427 1,,260 19 53 ,741 77 ,262 23 ,521 -35 ,075 - 4 ,797 30 ,278 53 ,360 78 ,583 25 ,223 82 ,227 131 ,306 49 ,079 -11 ,800 5 ,394 17 ,194 134 ,782 166 ,756 31 ,974 119,,387 162 ,695 43 ,308 6,,068 20 45 ,681 21 39,,613 22 1 ,225 - 3 ,065 - 3 ,068 1 ,078 42 ,445 9 ,668 1 ,629 -18,,974 23 35 ,385 - 2 ,994 2 ,310 20 ,638 41 ,564 53 ,876 50 ,876 10,,468 24
@FedFRASER