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C.9 April 1990 Balance Sheets Flow of Funds Balance Sheets For the U.S. Economy 1945-89 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 Table of Contents Pages Balance sheet tables: 1-6 National Net Worth 7-12 Net Foreign Assets 13-18 Tangible Asset Holdings 19-24 Households 25-30 Farm and Nonfarm Noncorporate Business 31-36 Nonfinancial Corporate Business 37-42 Private Financial Institutions Stock-flow reconciliation tables: 43-48 National Net Worth 49-54 U.S. Net Foreign Assets 55-60 Tangible Asset Holdings 61-66 Households 67-72 Farm and Noncorporate Business 73-78 Nonfinancial Corporate Business 79-84 Private Financial Institutions Federal Reserve Statistical Release C.9 Balance Sheets for the U.S. Economy 1945-89 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 (BEA) 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 reproducible assets are valued at current 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 1989. This issue includes new capital stock data for 1989 from BEA, and incorporates data recently published in the quarterly Flow of Funds Accounts. Most revisions go back to the beginning of 1988, but a few series have been revised from 1986 onward. Information on obtaining Flow of Funds publications is provided 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 fixed assets, even for historical-cost measures. 1. U.S. Department of Commerce, Bureau of Economic Analysis, Fixed Reproducible Tangible Wealth in the United States, 1925-85 (Washington: U.S. Government Printing Office, June 1987). See also John C. Musgrave, "Fixed Reproducible Tangible Wealth in the United States, 1985-88," Survey of Current Business, vol. 69 (August 1989), pp. 89-92. Accompanying the balance sheets is a parallel set of 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 for 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 of method of measurement is changed. These adjustments appear in the individual sector stock-flow reconciliation statements included here. Subscription information. The Federal Reserve Board charges nominal amounts for subscriptions to all public releases to defray postage costs. The annual cost of the Z.7 release, Flow of Funds Summary Statistics, presently is set at $5.00; the price of the full Z.l release, Flow of Funds Accounts, has been fixed at $15.00. 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 $5.00 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 and diskettes 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 and diskette prices are determined by NTIS. (The general information telephone number at NTIS is (703) 487-4600.) 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 1990 National Net Worth N a t i o n a l Net Worth C o n s o l i d a t e d N a t i o n a l Net A s s e t s with T a n g i b l e s at Current Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1947 1949 1950 1951 714, 871 564- 304 210- 672 192, 256 8 5 ,• 122 76, 254 150, 5 6 7 745 ,442 5 9 0 674 223, 263 203, 761 77,, 084 86,• 566 154, 768 856, 994 680, 469 249, 242 226, 903 96, 135 108 . 189 176, 525 952 • 616 758,,085 273 ,009 251 8 3 8 108 ,823 124 • 415 194 ,531 330 557 966 511 870 210 773 553 253 4 2 3 181 160 323 140 749 68 938 53, 171 130..072 8 9 10 15 ,844 7 942 18,,271 7! 1,,001 24 8 7 9 8 ,366 972 27,• 769 9, 625 944 28,,843 10-,700 708 32,• 608 11,,788 1,,175 33 ,335 12 • 979 1 ,390 11 7 ,675 10,,043 15 ,541 17,,200 17 ,435 19 ,645 18 ,966 1 2 3 4 5 6 7 463 346 135 114 49 46 116 648 506 190 171 79 65 141 1948 655 771 528 237 877 i• 129 , ,884 1952 1000-343 1000 .343 D o m e s t i c net worth (1 ) (2) R e p r o d u c i b l e assets (3 ) 797 ,219 Residential structures 2 8 8 • 153 N o n r e s . plant & e q u i p . 2 6 7 ,074 108 • 003 Inventories 133 ,989 Consumer durables 203 , 124 Land at m a r k e t value + F 1 o r e i g n a s s e t s owned by U.S. 35 ,786 residents 14 721 U.S. dir. i n v e s t , abroad Fgn. corporate equities 1 ,459 Other f i n a n c i a l claims 19 ,606 owned by U.S. r e s i d e n t s - 12 13 14 16 ,321 2 ,507 2 ,700 15 ,111 2 ,503 2 ,690 13 , 665 2 ,603 2 ,480 14 ,268 2 ,787 2,,305 14 ,655 2 ,941 2 ,490 18 ,605 3 ,658 3 ,450 17 ,377 3 ,391 2 ,925 19 ,782 3 ,945 3 ,705 U.S. a s s e t s owned by foreigners F g n . dir. i n v e s t , in U.S. U.S. c o r p o r a t e e q u i t i e s Other f i n a n c i a l claims owned by fgn. r e s i d e n t s 15 11 ,114 9 ,918 8 ,582 9 ,176 9 ,224 11 ,061 11 ,497 12 ,132 16 20 ,083 20 ,706 22 ,868 24 ,399 24 ,563 22 ,820 22 8 7 2 23 ,252 + U.S. m o n e t a r y gold S S D R s 17 4 8 2 ,936 5 7 7 ,119 682 ,737 752 ,771 784 , 193 8 9 5 ,045 990 ,218 = Total c o n s o l i d a t e d net assets (4) 1039 ,599 18 482, 936 577, 119 682 ,737 752 ,771 784 ,193 8 9 5 ,045 990 ,218 N a t i o n a l net w o r t h , by sector 1039 ,599 T o t a l , all sectors 19 703, 446 793 ,677 8 8 6 ,079 946 ,910 980 ,850 1084 8 5 2 1179 ,994 1240 ,544 P r i v a t e net w o r t h , c o n s o l i d a t e d 20 21 23 24 354, 412 658,,865 184,,835 110 266 9,,352 391 , ,684 716,,943 212,. 925 102,,090 10,,244 428 777 236 99 11 457 816 247 98 13 ,008 -540 ,604 ,621 ,307 479 ,264 849 2 4 8 ,491 106 ,375 15,,092 524 ,762 951,,372 2 7 8 .780 130, 319 17 511 570,,382 1043,• 281 299,,720 152,,812 20,• 367 607 1101 302 166 24 25 26 27 113,,469 76,• 738 133,,777 126,,925 92, 4 7 3 155,,048 143,,020 100 , ,643 183,,303 152 ,282 102,,497 202,,459 155 910 99, 549 212,,733 167, 565 119,,586 235,,856 177,,160 151 •785 259,,978 28 29 30 31 25 ,050 20 ,468 9 ,352 4 ,770 27, 547 226 10 ,244 4,,923 30, 167 23,,764 11 ,674 5,,271 ,946 • 075 • 618 ,837 • 674 32,,664 24,• 916 13, 307 5, 559 33,,394 26 ,367 15 ,092 8 ,065 45 32 24 11 34 35 36 37 38 2,690 2,480 2,305 2,490 2,925 3,450 223,928 -799 223,320 191 21,986 -565 21 ,637 216 - -207,693 -510 -207,427 244 - -199,187 -656 -198,783 252 - -202,981 -890 -202,356 265 - -198,736 -3,909 -195,118 291 - -194,380 -5,033 -189,659 312 - 3,705 - 16 17 (4): F o r e i g n h o l d i n g s of U.S. c o r p o r a t e stock - 2 0 4 , 7 2 6 P u b l i c sector net f i n a n . a s s e t s -10,556 S t a t e and local g o v e r n m e n t s -194,533 U.S. g o v e r n m e n t 343 S p o n s o r e d credit a g e n c i e s Monetary authority financial assets CI) Located w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . (2) E x c l u d e s tangible a s s e t s of the public s e c t o r . (3) At current cost. (4) Owned by U.S. r e s i d e n t s . (5) Includes h o l d i n g s of foreign s h a r e s . (6) E x c l u d e s m u t u a l fund s h a r e s . 15 25 26 27 + F o r e i g n c o r p o r a t e stock included in lines 23 S 31 6,027 Unallocated Data are in m i l l i o n s of d o l l a r s . 12 13 14 P v t . finan. inst. net assets 29 S e c t o r net worth 30 • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held (5 ) (6 ) 31 2,700 11 national Nonfarm noncorp. business Farm business Nonfinancial corps. ,084 ,766 • 184 ,866 ,459 8 9 10 H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . bus. - C o r p . e q u i t i e s held (5 ) (6 ) - P e n s i o n fund r e s e r v e s 180 ,655 131 ,294 275 ,882 40,,689 30, 579 20, 367 10,,257 37,,083 28,,984 17 • 511 9 ,412 ,629 ,069 • 758 ,498 ,184 1 2 3 4 5 6 7 33 34 35 36 37 38 April 1990 National Net National Net Worth Consolidated + F o r e i g n a s s e t s owned by U.S. residents U.S. dir. invest. abroad Fgn. corporate equities Other financial claims 11 o w n e d by U . S . r e s i d e n t s U . S . a s s e t s o w n e d by foreigners F g n . d i r . i n v e s t . in U . S . U.S. corporate equities Other financial claims o w n e d by f g n . r e s i d e n t s 15 16 + U . S . 17 monetary gold & SDRs = Total consolidated net a s s e t s (4) N a t i o n a l net w o r t h , 18 T o t a l , a l l s e c t o r s 19 P r i v a t e net by sector worth,consolidated 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 28 29 30 31 P v t . f i n a n . i n s t . net a s s e t s S e c t o r net w o r t h + P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s h e l d (5 ) (6 ) + Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 31 - Foreign holdings corporate stock of U.S. 34 P u b l i c s e c t o r n e t f i n a n . a s s e t s 35 S t a t e and l o c a l g o v e r n m e n t s 36 U.S. government 37 Sponsored credit agencies 38 Monetary authority 39 U n a l l o c a t e d CI) (2) (3) (4) (5) (6) Data financial assets in m i l l i o n s of dollars. Outstandings 1176,8 5 0 933, 685 342, 427 319, 968 113, 975 157, 315 2 4 3 , 165 1283, 663 1012, 198 361, 660 355, 916 122, 745 171 -8 7 7 271, 465 1351, 8 1 7 1058, 638 375, 455 380,667 1 2 6 , 341 1 7 6 , 175 2 9 3 , 179 1408, 293 1091 ,8 2 7 390. 946 392, 660 126, 259 181 -9 6 2 316, 466 1476, 222 1139- 4 2 6 409, 688 409, 015 131 , 7 1 4 189, 009 336, 796 1 5 3 4 , 146 1175, 508 425, 962 420. 382 135, 508 193, 656 358, 638 1 2 3 4 5 6 7 38, 021 16, 2 5 3 1, 3 2 9 40, 283 17, 6 3 1 1 -8 6 8 43, 049 19, 3 9 5 2, 439 49, 005 22, 505 2, 625 53, 608 25, 394 2, 233 58- 3 8 3 27, 409 3, 0 9 5 62, 606 29, 8 2 7 3, 6 8 9 67, 514 31 •8 6 5 3, 9 8 4 8 9 10 20, 439 20, 784 21, 215 23, 875 25, 981 27, 8 7 9 29, 090 31, 665 11 20, 811 4,• 2 5 1 3, 6 5 0 23, 929 4, 633 5, 2 5 4 25, 907 5, 0 7 6 6, 5 7 5 28, 608 5 459 6, 9 6 1 28- 7 3 4 5, 710 6, 0 9 1 32, 3 9 2 6,• 115 8, 305 36, 9 3 0 6, 6 0 4 9,• 3 6 3 38, 8 5 5 6- 9 1 0 9, 3 0 2 12 13 14 12,• 9 1 0 14, 0 4 2 14, 2 5 6 16,. 188 16, 9 3 3 17,,972 2 0 ,• 9 6 3 22, 643 15 2 2 , 091 2 1 ,.793 21, 753 2 2 =0 5 8 22, 8 5 7 2 0 ,• 5 8 2 19, 5 0 7 17, 8 0 4 16 1 0 8 3 ,,639 1128, 8 4 3 1215, 745 1326, 118 1399, 548 1454, 1521, 4 0 5 1580, 6 0 9 17 1 0 8 3 ,639 1128,,843 1215,,745 1 3 2 6 ,118 1 3 9 9 ,. 5 4 8 1454,,866 1 5 2 1 ,,405 1580,• 6 0 9 18 1 2 9 2 ,946 1 3 4 7 ,4 35 1 4 3 2 ,070 1 5 4 2 ,760 1618,,862 1 6 9 2 ,311 1 7 6 5 , 121 1 8 2 6 .989 19 866 1697 375 386 69 906 1742 381 378 76 20 21 22 23 24 637 1129 305 158 28 ,437 ,280 ,037 ,268 ,538 184 ,565 129 , 5 4 0 2 9 1 .074 50 34 28 12 ,330 -733 ,538 ,941 1 ,329 666 1239 310 228 33 ,597 ,250 ,448 ,910 ,295 1 8 8 ,096 131 .561 3 0 5 ,910 55 39 33 17 ,271 ,704 ,295 ,728 1 .868 708 1348 321 278 40 • 127 • 430 ,350 ,455 ,498 196 ,037 134 , 7 4 5 3 3 3 ,099 60 43 40 24 .062 ,708 ,498 ,144 2 ,439 759 1440 338 296 45 ,599 ,194 875 ,041 ,679 2 0 6 ,966 141 - 8 3 8 3 6 8 , 149 66 46 45 25 ,208 ,475 ,679 ,946 2 ,625 790,,220 1 4 5 2 ,285 3 5 2 ,065 2 5 8 ,668 5 1 ,332 2 1 3 ,861 148 ,606 3 9 2 ,895 73 47 51 25 ,280 ,478 ,332 ,530 2 ,233 828 1616 367 360 60 ,701 ,505 ,298 ,070 ,436 2 2 0 ,501 1 5 7 ,846 4 0 8 ,240 77 52 60 36 ,023 ,948 ,436 ,361 3 ,095 .710 ,332 ,203 ,173 ,246 2 2 5 ,008 161 ,500 4 2 8 ,672 83 56 69 42 ,231 ,619 ,246 ,634 3 ,689 3 ,650 5 ,254 6 ,575 6 ,961 6 ,091 8 ,305 9 ,363 - 2 1 4 ,630 - 1 4 ,026 - 2 0 0 ,964 360 - 2 2 3 ,918 -17 855 - 2 0 6 ,457 374 - 2 2 3 .487 - 2 1 ,095 - 2 0 2 ,784 392 - 2 2 2 ,167 - 2 4 ,072 - 1 9 8 ,500 405 - 2 2 5 ,333 - 2 8 ,734 - 1 9 7 ,042 443 - 2 4 1 .954 - 3 4 ,242 - 2 0 8 ,190 4 78 - 2 4 9 ,173 - 3 8 ,410 - 2 1 1 ,271 508 7 ,644 8 ,712 11 , 2 9 8 9 ,861 9 ,877 9 ,719 11 ,131 Located within U.S. geographical boundaries. E x c l u d e s t a n g i b l e a s s e t s of the p u b l i c s e c t o r . At c u r r e n t c o s t . O w n e d by U . S . r e s i d e n t s . I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . E x c l u d e s m u t u a l fund s h a r e s . are Worth Cost 1090- 6 9 6 8 6 4 .7 4 5 317,852 293- 079 106- 7 3 4 147, 080 2 2 5 , 951 (4) H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . e q u i t i e s held (5)(6 ) - P e n s i o n fund r e s e r v e s 33 at C u r r e n t 1044. 338 833, 530 300, 579 280,890 109. 088 142, 973 210,808 national 20 21 22 23 24 32 Tangibles Year-End 8 9 10 - Assets with Outstandings 1 D o m e s t i c n e t w o r t h ( 1 ) (2 ) 2 R e p r o d u c i b l e assets (3) 3 Residential structures 4 Nonres. plant & equip. 5 Inventories 6 Consumer durables 7 L a n d at m a r k e t v a l u e 12 13 14 Net CO Year-End National ,742 ,976 ,075 ,431 ,728 2 2 9 ,810 2 5 162 -650 26 4 3 7 ,039 2 7 90 60 76 46 ,748 2 8 ,259 29 ,728 30 ,239 31 3 ,984 3 2 9 ,302 33 - 2 5 0 ,758 34 - 4 1 ,724 35 - 2 0 9 ,573 36 539 37 38 9 ,696 39 April 1990 N a t i o n a l Net W o r t h National Net Worth C o n s o l i d a t e d N a t i o n a l N e t A s s e t s w i t h T a n g i b l e s at C u r r e n t C o s t 3 Year-End Outstandings Year-End Outstandings 2228,. 602 1717,>644 596,,380 640, 677 197,• 377 283,,210 510,,958 1 2 3 4 5 6 7 1585 1735 1207 •779 441, 5 6 0 432,,260 137,,164 196 795 377 ,956 1646,,442 1254,,747 459,,106 449 >563 143,,761 2 0 2 ,317 391 ,695 1710,,530 1302,,401 471 • 5 4 0 468,,552 149 ,508 2 1 2 ,801 4 0 8 ,129 1806, 2 4 7 1376,,073 502,,050 494,,943 155,,367 223,,713 4 3 0 ,174 1920, 053 1466 -972 526,,165 535, 711 169,,035 236,,061 453,,081 2095,,633 1602,,086 5 6 7 ,478 5 9 0 ,951 185 ,170 2 5 8 ,487 493 ,547 8 9 10 74,517 34,717 4,902 78,836 37,276 4,714 85,556 40,736 5,145 96,791 44,480 5,270 103,882 49,283 5,048 110,319 51,007 4,324 121,158 55,329 5,238 11 34,898 36,846 39,675 47,041 49,551 54,988 60,591 2418 1903 667 709 211 314 515 ,078 D o m e s t i c net w o r t h ( 1 ) ( 2 ) R e p r o d u c i b l e a s s e t s (3) ,027 ,831 Residential structures N o n r e s . plant 8 e q u i p . ,247 Inventories ,732 Consumer durables ,217 Land at m a r k e t value ,051 • F o r e i g n a s s e t s owned by U.S. 132,420 residents 58,547 U.S. dir. i n v e s t , abroad 6,452 Fgn. corporate equities Other financial claims 67,421 owned by U.S. r e s i d e n t s - 12 43,476 7,392 11,808 44,043 7,612 10,336 49,625 7,944 12,485 55,125 8,363 13,835 57,313 8,797 14,599 58,690 9,054 12,643 77,761 9,923 25,511 87,740 10,815 29,517 15 24,276 26,095 29,196 32-927 33,917 36,993 42,327 47,408 16 16,947 16,057 15,596 15,471 14,065 13,235 13 14 U.S. a s s e t s owned by foreigners F g n . dir. i n v e s t , in U.S. U.S. c o r p o r a t e e q u i t i e s Other financial claims owned by fgn. r e s i d e n t s 10,892 + U.S. m o n e t a r y gold 8 S D R s 2473,650 1762,057 = Total c o n s o l i d a t e d net a s s e t s (4) 8 9 10 11 12 13 14 15 16 national 1633, 723 1697, 2 9 2 1762, 057 1863,,384 1980, 687 2160, 4 9 7 2284,.064 N a t i o n a l net w o r t h , by sector 2473,,650 19 1889, 961 1961, 738 2029, 536 2137,,326 2 2 5 7 ,071 2439, 711 2593,-503 2 7 9 3 ,,198 1 9 8 P r i v a t e net w o r t h , c o n s o l i d a t e d 2793, 19 942, 679 1900, 139 390, 8 8 3 477, 928 88, 649 978, 351 1889, 8 3 5 401,• 662 416, 183 93, 639 1017, 160 2024, 673 412, 778 488, 694 106, 041 1077,,674 2 1 6 2 ,619 4 2 8 ,434 5 3 5 ,690 120 ,821 1140 2326 449 600 135 ,715 ,595 ,617 ,493 ,770 1241,,299 2403,,459 477,,090 540,,920 144,,150 1340 5 4 9 2 6 7 5 ,742 493,,854 676 ,319 165,,020 1477:,816 2 9 7 4 ,897 504,,716 8 0 6 938 185:,427 H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . bus. - C o r p . e q u i t i e s held ( 5 X 6 ) - P e n s i o n fund r e s e r v e s 20 21 22 23 24 241-.974 171,,708 463,,555 247, 720 177,,482 477,,545 257,,237 184,,083 500,,442 2 6 6 495 196 ,905 529,,962 286,,779 204,.636 569,,568 293,,973 214,,926 606,,614 313 • 4 5 5 205:,657 653 ,063 Nonfarm noncorp. business Farm business Nonfinancial corps. 25 26 27 ,661 ,397 ,649 ,385 106,,150 70,,406 93 ,639 57 ,895 109,,629 74 ,216 106,,041 70,,628 117 80 120 83 ,994 ,880 ,770 ,656 137: 4 2 9 87, 5 4 0 144,,150 94,,261 137,,441 94,,529 165,,020 122,,108 143 102 185 144 P v t . f i n a n . inst. net a s s e t s S e c t o r net w o r t h • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held ( 5 ) ( 6 ) 28 29 30 31 4 ,902 4 ,714 5 ,145 5 ,048 4 ,324 20 21 22 23 24 25 26 27 28 29 30 31 32 235,• 101 167, 5 0 8 450, 012 94 67 88 61 ,890 • 514 ,821 ,445 5 ,270 122 85 135 98 5 00 18 ,207 ,677 ,427 ,897 6 ,452 + F o r e i g n c o r p o r a t e stock i n c l u d e d in l i n e s 23 8 31 - 33 11 ,808 10 ,336 12 ,485 13 ,835 14 ,599 12,,643 2 5 ,511 34 35 36 37 38 - 2 6 0 ,211 - 4 5 ,517 - 2 1 5 ,279 585 - 2 6 7 ,847 - 4 8 ,273 - 2 2 0 ,214 640 - 2 7 2 ,021 - 5 0 ,838 - 2 2 1 ,882 699 - 2 7 8 ,751 - 5 3 ,698 - 2 2 5 ,801 748 - 2 8 1 ,662 - 5 6 ,151 - 2 2 6 :,314 803 - 2 8 7 ,915 - 5 9 :,987 - 2 2 8 ,777 849 - 3 0 6 ,322 — 64 ,909 - 2 4 2 ,304 891 - 2 9 ,517 (4): F o r e i g n h o l d i n g s of U.S. c o r p o r a t e stock - 3 1 9 ,,764 7 6 4 P u b l i c s e c t o r net f i n a n . a s s e t s S t a t e and local g o v e r n m e n t s - 6 8 ,942 U.S. g o v e r n m e n t - 2 5 1 ,728 Sponsored credit agencies 906 Monetary authority 23,281 Unallocated financial assets (1) L o c a t e d w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of the public s e c t o r . (3) At c u r r e n t cost. (4) O w n e d by U.S. r e s i d e n t s . ( 5 ) Includes h o l d i n g s of f o r e i g n s h a r e s . ( 6 ) E x c l u d e s m u t u a l fund s h a r e s . Data are in m i l l i o n s of d o l l a r s . 32 33 34 35 36 37 38 39 A p r i l 1990 National Net Worth N a t i o n a l Net N o r t h C o n s o l i d a t e d N a t i o n a l N e t A s s e t s w i t h T a n g i b l e s at C u r r e n t C o s t Year-End Outstandings Year-End Outstandings 1973 1 D o m e s t i c net w o r t h ( 1 X 2 ) 2 Reproducible assets (3) 3 Residential structures 4 N o n r e s . plant 8 e q u i p . 5 Inventories 6 Consumer durables 7 Land at m a r k e t value 5652 ,689 ?092 ,814 731 ,905 784 ,783 2 3 2 ,396 343 ,730 559 ,875 + F o r e i g n a s s e t s owned by U.S. residents U.S. dir. i n v e s t , abroad Fgn. corporate equities Other financial claims 11 owned by U.S. r e s i d e n t s 8 9 10 12 13 14 15 U.S. a s s e t s owned by foreigners F g n . dir. i n v e s t , in U.S. U.S. c o r p o r a t e e q u i t i e s Other financial claims owned by fgn. r e s i d e n t s 16 + U.S. m o n e t a r y gold & S D R s 17 = Total consolidated net a s s e t s (4) 2828 2250 772 865 240 372 578 ,894 ,089 ,214 ,131 ,310 ,434 ,805 3079 2462 860 950 257 393 617 ,907 ,515 ,459 ,521 ,804 ,731 ,392 3396 2707 964 1033 285 424 688 ,341 ,998 ,656 ,065 ,593 ,684 ,343 3 9 0 7 ,883 3 0 9 0 ,676 1109 ,890 1157 ,661 3 5 2 ,625 4 7 0 ,500 8 1 7 ,207 1975 4580 3652 1262 1422 423 544 928 ,564 ,281 ,175 ,612 315 179 ,283 4981 3959 1363 1570 428 595 1022 ,921 ,006 ,500 ,979 ,828 •699 ,915 5557 4358 1532 1709 463 652 1199 ,625 ,239 ,333 ,871 ,282 ,753 ,386 1 2 3 4 5 6 7 141 ,475 63,,704 ,953 61 1471,041 70,,269 6,,573 159 ,171 76 ,388 7,,641 173 ,666 81 ,503 10 ,537 190 ,262 91 ,715 10 ,026 2 1 5 ,596 100,,364 9,,011 2 4 5 ,414 114,, 140 9,,585 285 ,273 8 126,,583 9 9,,453 10 70, 8 1 8 70,,199 75,,142 8 1 ,626 8 8 ,521 106,,221 121, 689 149,,237 11 94, 084 11, 8 1 8 26, 761 98, 9 6 8 13, 2 7 0 27, 2 0 9 127..372 13, 914 30, 8 1 1 151,,585 14, 8 6 8 39, 059 157,,966 20, 5 5 6 33, 516 172, 778 25,. 144 24, 221 183, 8 4 5 27, 662 35, 313 213, 115 12 30, 770 13 42, 949 14 55, 505 58, 4 8 9 8 2 , 647 97, 658 103, 8 9 4 123, 413 120, 8 7 0 139, 396 11, 8 5 9 11, 923 11, 4 0 0 12, 4 4 5 13, 8 1 8 14, 026 13, 934 15 13, 993 16 national N a t i o n a l net w o r t h , by sector 18 T o t a l , all s e c t o r s 3123,106 5 6 4 3 , 7 7 6 17 (4): 2711 ,939 2 8 8 8 ,890 3123 ,106 3 4 3 0 ,867 3953 ,997 4 6 3 7 ,408 5 0 5 7 ,424 19 P r i v a t e net w o r t h , c o n s o l i d a t e d 3026 ,503 3224 ,289 3 4 9 2 ,183 3823 ,878 4 3 4 5 ,156 5 0 6 2 ,499 5 5 6 9 ,937 6 2 2 0 ,961 19 20 1589 3031 548 699 194 1699 3162 567 682 213 ,146 ,411 ,322 ,652 ,291 1852 ,502 3488 ,358 610 ,372 777 ,960 2 4 7 ,524 2019 3853 674 861 297 ,085 ,237 ,218 ,986 ,948 2 2 4 2 ,214 4 0 1 7 ,423 8 0 9 ,165 663 ,561 3 0 2 ,483 2528 4196 900 459 307 2758 4743 984 598 402 3075 5363 1113 712 461 20 21 22 23 24 4 6 2 ,206 3 7 2 ,053 1022 ,021 5 1 6 ,241 411 ,379 1308 ,377 5 5 2 ,671 461 ,533 1458 ,521 ,662 ,528 ,483 ,349 2 9 7 ,791 148 ,328 307,,089 157,,626 338,,255 151,,653 402,,163 215,,561 10,,026 9,,011 9,,585 21 22 23 24 25 26 27 28 29 30 31 32 H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . bus. - C o r p . e q u i t i e s held ( 5 ) ( 6 ) - P e n s i o n fund r e s e r v e s ,463 ,236 ,039 ,111 ,623 Nonfarm noncorp. business Farm business Nonfinancial corps. 329 ,910 2 3 4 ,547 713 ,544 343 ,463 2 4 0 ,709 767 ,836 369 ,108 2 5 9 ,424 8 3 7 ,995 4 0 0 ,412 2 9 4 ,415 913 ,750 P v t . f i n a n . inst. net a s s e t s S e c t o r net w o r t h • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held ( 5 ) ( 6 ) 159 ,039 104 ,897 194 ,623 140,,481 173 ,135 109,,356 213,,291 149,,512 173 ,154 120 ,600 2 4 7 ,524 194,,970 196,,216 135 ,360 297,,948 237,,092 6,,953 6,,573 7,,641 10,,537 • F o r e i g n c o r p o r a t e stock i n c l u d e d in l i n e s 2 3 S 31 - F o r e i g n h o l d i n g s of U . S . 33 c o r p o r a t e stock 34 Public s e c t o r net f i n a n . a s s e t s 35 S t a t e and local g o v e r n m e n t s 36 U.S. g o v e r n m e n t 37 Sponsored credit agencies 38 Monetary authority 39 U n a l l o c a t e d (1) (2) (3) (4) (5) (6) financial assets ,957 ,763 ,032 ,611 ,163 26,,761 27, 2 0 9 30,,811 39, 059 33,,516 24, 221 35, 313 - 3 2 0 , 851 -76, 250 - 2 4 5 , 542 941 -341, 567 - 8 5 , 173 -257, 352 958 - 3 7 3 , 385 -93,851 -280, 587 1, 053 -389, 434 - 9 2 , 036 -298, 597 1, 199 - 3 9 1 , 136 -86,881 - 3 0 5 , 715 1, 4 6 0 —405, 841 - 8 9 , 923 -317,846 1, 928 - 4 8 5 , 621 -95, 250 - 3 9 2 , 570 2, 199 26, 095 26,8 0 4 27, 4 7 8 2 4 , 945 23, 4 6 7 - 4 , 040 - 1 , 164 L o c a t e d w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . E x c l u d e s t a n g i b l e a s s e t s of the public sector. At c u r r e n t cost. Owned by U.S. r e s i d e n t s . Includes h o l d i n g s of f o r e i g n s h a r e s . E x c l u d e s m u t u a l fund s h a r e s . Data are in m i l l i o n s of d o l l a r s . 246 148 302 204 ,711 ,193 ,529 ,864 ,089 5 6 4 3 ,776 18 ,911 ,533 ,704 ,879 ,039 616 , 224 25 5 3 2 ,835 26 1611 ,979 2 7 384 ,012 172 ,598 461,,039 249,,625 28 29 30 31 9, 453 32 42, 949 33 - 5 4 6 , 138 - 9 5 , 682 - 4 5 2 , 986 2, 5 3 0 34 35 36 37 38 2 , 4 4 9 39 April 1990 National N e t W o r t h National Net Worth 5 C o n s o l i d a t e d N a t i o n a l Net A s s e t s w i t h T a n g i b l e s at C u r r e n t C o s t Year-End Outstandings Year-End O u t s t a n d i n g s 1977 1978 1979 1980 1981 1982 10824,,605 8155, 359 2893,-937 3348,• 2 7 4 771,,459 1141,,689 2669,,246 1983 11394,,911 8557, 2 2 7 3112, 749 3450,,406 787,,190 1206,,882 2837,,684 1984 11977, 941 D o m e s t i c net w o r t h ( 1 X 2 ) R e p r o d u c i b l e assets (3) 9082, 676 Residential structures 3308,,357 N o n r e s . plant 8 e q u i p . 3630, 176 Inventories 858,,166 Consumer durables 1285,.977 Land at m a r k e t value 2895 265 1 2 3 4 5 6 7 6319, 155 4 9 1 2 , 132 1785 , 154 1895, 798 5 0 5 , 683 725, 497 1407, 023 7 4 0 4 ,8 2 5 5703, 492 2 0 9 5 , 090 2 1 9 9 , 699 588, 241 820, 462 1701, 333 8497, 388 6466« 637 2 4 0 7 , 398 2 4 5 9 , 108 674, 8 3 7 925, 2 9 4 2 0 3 0 , 751 9578, 964 7243, 113 2676, 405 2807, 427 739, 312 1019, 969 2 3 3 5 , 851 10604, 8 0 5 7989,,046 2928, 454 3175,,130 788,,988 1096,,474 2615,,759 8 9 10 306, 971 135, 382 10,,110 373,,282 151, 761 11,,236 4 2 9 ,4 6 4 178,>240 14,,834 492, 4 6 7 208,.467 19, 166 538,,318 224,,826 17,,360 5 5 4 ,281 213 ,347 18 ,568 5 7 5 ,132 2 1 5 ,934 25 ,864 11 161, 4 7 9 210,,285 2 3 6 ,390 264,,834 2 9 6 ,132 322 ,366 333,,334 • F o r e i g n a s s e t s owned by U.S. residents 579,,662 U.S. dir. i n v e s t . abroad 221,,941 Fgn. corporate equities 27,,017 Other financial claims owned by U.S. r e s i d e n t s 330,,704 12 13 14 248, 752 34, 5 9 5 39, 779 313,,018 4 2 ,471 4 2 ,097 3 4 8 ,742 5 4 ,462 4 8 ,318 4 0 4 ,607 8 3 ,046 64 ,569 4 1 6 ,853 108 ,714 64 ,391 4 3 3 ,186 124 ,677 76 ,279 503,,196 137,,059 96,,357 590,,363 164,,581 94,,548 15 174, 378 2 2 8 ,450 2 4 5 ,962 256 ,992 2 4 3 ,748 2 3 2 ,230 2 6 9 ,780 331,,234 16 14,,348 13 ,229 13 ,896 13 ,770 15 ,246 16 ,398 16 ,146 16,,737 U.S. a s s e t s owned by foreigners F g n . dir. i n v e s t , in U.S. U.S. c o r p o r a t e e q u i t i e s Other financial claims owned by fgn. r e s i d e n t s U.S. m o n e t a r y gold 8 S D R s Total consolidated national net a s s e t s (4) 17 6391 ,722 7478 ,318 8 5 9 2 ,006 9680 ,594 10741 ,516 10962 ,098 11482 ,993 11983,,977 18 6391 ,722 7478 ,318 8 5 9 2 ,006 9680 ,594 10741 ,516 10962 ,098 11482,,993 N a t i o n a l net w o r t h , by sector 11983,,977 T o t a l , all s e c t o r s 9315 ,911 10492 ,115 11646 ,675 12033 ,641 12783,,977 13513,,638 P r i v a t e net w o r t h , c o n s o l i d a t e d 5653 10137 2229 1173 1081 ,865 ,732 ,342 ,237 ,288 6177 ,850 11059 ,763 2278,,938 1322,,892 1280,,083 6680,,732 11640,,680 2 2 3 5 • 069 1322 ,846 1402,,033 1469 ,118 811 ,812 3163 ,307 1532,,083 796,,497 3249,,811 1589,,108 686 ,245 3 3 4 8 ,444 935 325 1081 471 ,539 ,472 ,288 ,221 1027,,736 349,,974 1280,,083 602,,321 1209 410 1402 603 19 7016 ,014 8 1 4 6 ,514 20 21 22 23 24 3474 5920 1270 668 507 3971 6753 1516 663 601 25 26 27 726 ,682 582 ,611 1778 ,885 28 29 30 31 453 ,584 187 ,893 5 0 7 ,452 241 ,761 32 10 ,110 33 ,252 ,395 ,221 ,470 ,452 ,369 ,655 ,676 ,873 ,737 8 7 5 ,600 687 ,207 2064 ,326 ,689 ,629 ,388 ,156 ,396 4943,,201 8927,,000 2032,,832 1111,,325 839,,642 5457 9677 2257 1051 910 1038,,275 793 ,999 2 3 7 0 ,656 1216 ,648 873,,951 2714,,287 1454 ,397 8 5 8 ,931 3044 ,073 4473 7764 1779 812 699 11 ,236 14 ,834 19,,166 17,,360 18 ,568 25,,864 27,,017 39 ,779 4 2 ,097 4 8 ,318 64,,569 64,,391 76,,279 96,,357 94,,548 34 35 36 37 38 - 5 8 8 ,632 - 8 1 ,979 - 5 0 9 ,538 2 ,885 - 6 2 4 ,479 - 7 6 ,652 - 5 5 1 ,232 3 ,405 - 6 4 4 ,918 - 6 9 ,703 - 5 7 9 ,176 3 ,961 - 7 0 0 ,,622 - 7 1 ,,999 - 6 3 2 ,,921 4,,298 - 7 8 6 ,,802 - 8 1 ,,265 - 7 1 0 , 333 4,,796 - 9 3 9 ,799 - 8 6 ,020 - 8 5 9 ,882 6,,103 - 1 1 2 4 ,,513 - 8 2 ,,059 - 1 0 4 9 ,,424 6,,970 39 - 5 ,991 - - - - 1 2 ,856 — 4 5 ,503 - - 6 5 ,,496 - - 7 1 ,,326 - - 7 4 ,033 - - 1 0 5 ,,978 H o u s e h o l d net a s s e t s S e c t o r net worth - E q u i t y in n o n c o r p . bus. - C o r p . e q u i t i e s held ( 5 ) ( 6 ) - P e n s i o n fund r e s e r v e s Nonfarm noncorp. business Farm business Nonfinancial corps. P v t . f i n a n . inst. net a s s e t s S e c t o r net w o r t h • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held ( 5 ) ( 6 ) ,109 • 913 ,033 ,837 744 ,028 300,,758 839,,642 396,,372 ,012 ,841 ,737 ,566 831 309 910 389 ,354 ,656 ,736 ,038 ,292 ,956 ,396 ,060 548 222 601 276 639 258 699 319 ,920 ,001 ,114 ,231 ,736 (4): • F o r e i g n c o r p o r a t e stock i n c l u d e d in lines 2 3 8 31 - F o r e i g n h o l d i n g s of U.S. c o r p o r a t e stock - 1 3 0 0 ,,923 P u b l i c sector net f i n a n . a s s e t s S t a t e and local g o v e r n m e n t s - 7 4 ,,750 U.S. g o v e r n m e n t - 1 2 3 4 ,,010 Sponsored credit agencies 7,,837 Monetary authority - 1 6 1 ,,207 U n a l l o c a t e d financial a s s e t s ( 1 ) L o c a t e d w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of the public s e c t o r . ( 3 ) At c u r r e n t cost. ( 4 ) Owned by U.S. r e s i d e n t s . ( 5 ) I n c l u d e s h o l d i n g s of foreign s h a r e s . ( 6 ) E x c l u d e s m u t u a l fund s h a r e s . Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 National Net Worth N a t i o n a l Net W o r t h 6 C o n s o l i d a t e d N a t i o n a l N e t A s s e t s w i t h T a n g i b l e s at C u r r e n t C o s t Year-End Outstandings Year-End Outstandings 1985 1 D o m e s t i c net w o r t h < 1 ) ( 2 ) R e p r o d u c i b l e assets (3) 2 Residential structures 3 N o n r e s . plant 8 e q u i p . 4 Inventories 5 Consumer durables 6 Land at m a r k e t value 7 • F o r e i g n a s s e t s owned by U.S. residents U.S. dir. i n v e s t , abroad Fgn. corporate equities Other financial claims owned by U.S. r e s i d e n t s 11 8 9 10 12 13 14 15 U.S. a s s e t s owned by foreigners F g n . dir. i n v e s t , in U.S. U.S. c o r p o r a t e e q u i t i e s Other financial claims owned by fgn. r e s i d e n t s 16 + U.S. m o n e t a r y gold 8 S D R s 17 = Total consolidated net a s s e t s ( 4 ) N a t i o n a l net worth* 18 T o t a l , all s e c t o r s 1986 19 P r i v a t e net w o r t h , c o n s o l i dated 1988 1989 12483, 161 9515, 8 4 2 3482,, 951 3771, 680 863, 542 1397, 669 2967,,319 13189, 4 9 2 10024, 157 3686, 952 3949, 8 4 6 853, 268 1534, 091 3165, 335 14171, 6 1 7 10774, 733 4 0 5 0 , 101 4 1 4 2 , 766 920, 690 1661, 176 3396, 8 8 4 14978, 708 11410, 041 4235, 330 4364, 789 1003, 997 1805, 925 3568, 667 15950, 930 12134- 651 4548- 163 4609, 471 1054, 908 1922, 109 3816,,279 1 2 3 4 5 6 7 602,,759 237,, 671 39,,286 657, 314 262, 353 50, 004 702,,032 306, 688 54, 659 745,,525 322, 8 7 7 63,,173 8 7 8 ,,627 355, 445 95,,827 8 9 10 325,,802 344, 957 340,,685 359,,475 427,,355 11 726 , 942 184 ,613 123 ,684 932,,194 220,,412 166,,641 1099,,980 271,,788 173,,418 1310,>870 328,,851 197,,016 1560,,332 388,,511 250,,565 12 13 14 4 1 8 ,645 545,,141 654,,774 785,,003 921,,256 15 18 ,383 19,,459 21,,361 20,,694 21 ,010 16 12377 ,361 12934,,071 13795,,030 14434,,057 15290,,235 17 (4): 12377 ,361 12934,,071 13795,,030 14434 ,057 15290,,235 18 14119 ,065 14950,,656 16022,,793 16942 ,478 18033 ,896 19 7156 12694 2199 1684 1652 ,735 ,041 ,755 ,714 ,837 7779 ,019 13753 >775 2 2 3 7 ,471 1849,,203 1888 ,082 8470,,585 14601,,320 2352,,512 1718 ,732 2 0 5 9 ,491 9064 15634 2410 1808 2350 9842 17192 2577 2086 2685 ,928 ,600 ,542 ,860 ,270 20 21 22 23 24 national by sector 1987 ,102 ,295 ,684 ,974 ,535 23 24 H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . bus. - C o r p . e q u i t i e s held ( 5 H 6 ) - P e n s i o n fund r e s e r v e s 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 1633 ,090 5 9 9 ,001 3401 ,270 1707 ,461 556 ,338 3449,,158 1799 ,959 580,,085 3564 ,094 1815 ,543 621 ,348 3 6 7 2 ,211 1917 ,357 685 ,225 3734 ,710 25 26 27 28 29 30 31 P v t . f i n a n . inst. net a s s e t s S e c t o r net w o r t h • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held ( 5 ) ( 6 ) 1328 451 1652 775 ,969 ,437 ,837 ,305 1458 ,680 501 ,858 1888 ,082 931,,260 1608 ,070 521,,298 2 0 5 9 ,491 972 ,719 1769 554 2350 1136 1853 594 2685 1426 ,676 ,706 ,270 ,300 28 29 30 31 39 ,286 50,,004 54 ,659 63 ,173 95 ,827 32 123 ,684 166,,641 173,,418 197 ,016 2 5 0 ,565 33 20 21 32 • F o r e i g n c o r p o r a t e stock i n c l u d e d in lines 2 3 8 31 - 33 F o r e i g n h o l d i n g s of U.S. c o r p o r a t e stock 34 P u b l i c sector net f i n a n . a s s e t s S t a t e and local g o v e r n m e n t s 35 U.S. g o v e r n m e n t 36 Sponsored credit agencies 37 Monetary authority 38 39 U n a l l o c a t e d CI) (2) (3) (4) (5) C6) financial assets - 1 4 9 9 ,329 - 6 0 ,394 - 1 4 4 5 ,329 6 ,394 - 1 5 7 ,977 ,466 ,430 ,997 ,961 - 1 9 2 3 ,,302 — 60 ,485 - 1 8 6 9 ,136 6 ,319 - 2 1 3 2 ,792 - 7 7 ,829 - 2 0 6 2 ,410 7 ,447 - 2 3 1 0 ,093 - 8 8 ,305 - 2 2 2 9 ,767 7 ,979 34 35 36 37 38 - 1 8 0 ,,482 - 1 8 5 ,,702 - 2 4 1 ,786 - 2 7 8 ,830 39 -1719 -52 -1672 5 L o c a t e d w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . E x c l u d e s t a n g i b l e a s s e t s of the public sector. At c u r r e n t cost. O w n e d by U.S. r e s i d e n t s . I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . E x c l u d e s m u t u a l fund s h a r e s . D a t a are in m i l l i o n s of d o l l a r s . ,274 ,749 ,535 ,010 April 1990 Net Foreign Assets Net Foreign Assets U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings 1945 1 U.S. Net Foreign Assets 16,004 U.S. net foreign assets 35,786 3 4 -248 68 937 51 1,293 10 1,462 10 1,446 57 1,426 91 1,462 75 5 6 7 942 5,032 2,913 2,821 1,001 7-995 972 12,289 2,800 944 13,712 2,880 708 13,919 2,871 1,175 14,038 3,122 1,390 14,679 3,399 1,459 15,140 3,426 8 489 36 147 306 822 49 490 283 992 100 385 507 1,232 92 587 553 946 80 328 538 664 160 302 202 817 326 355 136 855 279 279 297 9 10 11 12 Foreign assets owned by U.S. residents U.S. official fgn. exchange & net IMF position U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 Bank To To To loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Commercial paper 12 Acceptance liabs. to banks 13 14 U.S. government loans 13 14 20 1,610 36 4,316 74 8,423 69 9,531 58 10,044 119 10,133 177 10,286 157 10,702 15 16 36 363 32 324 27 406 24 428 26 423 32 413 35 455 36 482 17 18 19 20 21 9,438 635 402 7,227 1,174 9,099 635 212 7,227 1,025 10,197 635 324 8,366 872 11,358 635 227 9,625 871 12,295 635 287 10,700 673 15,447 635 322 11,788 2,702 15,259 635 336 12,979 1,309 17,132 635 337 14,721 1,439 1,988 1,727 848 2,035 1,954 1,073 1,700 1,666 1,676 1,950 1,807 1,758 U.S. checkable dep. U.S. time deposits Net interbank claims 23 24 25 26 27 309 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper Security credit Trade credit 35 36 Miscellaneous fgn. assets Direct investment in U.S. Other 37 38 39 Security debt Trade debt 15 16 Miscellaneous U.S. assets U.S. eq. in IBRD- etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 19,782 U.S.assets owned by foreigners 22 23 24 25 26 27 28 29 30 31 32 33 34 2,677 1,578 422 2-280 1,582 241 1 ,718 1,564 334 2,199 1,585 513 2,700 3,119 2,574 2,574 2,690 2,387 2,100 2,100 2,480 3,044 2,700 2,700 2,305 3,145 2-800 2,800 2-490 3,371 2,900 2,900 2,925 4,819 4,300 4,300 3,450 4,894 4-278 4,278 3,705 5,136 4,468 4,468 503 229 280 232 327 317 323 359 58 64 113 35 36 104 409 109 405 92 399 70 365 73 321 87 352 84 376 82 417 37 38 39 5,312 2,507 2,805 5,417 2,503 2,914 4,034 2,603 1,431 4,086 2,787 1,299 3,837 2,941 896 132 391 741 4,759 3,658 1,101 4,927 3,945 982 (1) Corporate bonds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. 28 29 30 31 32 33 34 April 1990 Net F o r e i g n A s s e t s Net F o r e i g n A s s e t s 8 U.S. and F o r e i g n A s s e t s O u t s t a n d i n g Year-End Outstandings Year-End O u t s t a n d i n g s 1953 1954 1955 1956 1957 1958 1959 1960 U.S. Net F o r e i g n A s s e t s 1 U.S. net 2 foreign assets F o r e i g n a s s e t s owned U.S. r e s i d e n t s 17 ,210 16 ,354 17 ,142 2 0 ,397 2 4 ,874 2 5 ,991 25 ,676 28 ,659 1 38 ,021 4 0 ,283 43 ,049 49 ,005 53 ,608 5 8 ,383 62 ,606 67 ,514 2 1 ,044 129 1 ,608 138 1 ,975 131 1 ,958 149 1 ,997 132 I ,555 148 3 4 3 ,984 23 ,215 5 ,784 5 6 7 by 3 4 U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n U.S. p r i v a t e d e p o s i t s 5 6 7 Foreign corporate equities Credit market instruments C o r p o r a t e bonds 8 9 10 11 Bank To To To 12 13 14 C o m m e r c i a l paper A c c e p t a n c e liabs. to banks U.S. g o v e r n m e n t loans loans n.e.c. foreign official foreign banks other foreign 15 16 S e c u r i t y debt Trade debt 17 18 19 20 21 M i s c e l l a n e o u s U.S. a s s e t s U.S. eq. in IBRD- etc. U.S. g o v e r n m e n t d e p o s i t s U.S. dir. inv. abroad (1) Other 2 2 U . S . a s s e t s owned by f o r e i g n e r s 23 24 25 U.S. c h e c k a b l e dep. U.S. time d e p o s i t s Net i n t e r b a n k c l a i m s 26 27 28 29 30 31 32 33 34 Security RPs U.S. c o r p o r a t e e q u i t i e s Credit m a r k e t i n s t r u m e n t s U.S. g o v e r n m e n t s e c u r i t i e s Official holdings Private holdings U.S. c o r p o r a t e bonds (1) L o a n s to U . S . n o n b a n k borr. Open m a r k e t paper 35 36 S e c u r i t y credit T r a d e credit 37 38 39 M i s c e l l a n e o u s fgn. a s s e t s D i r e c t i n v e s t m e n t in U.S. Other 1 ,367 114 1 , 185 158 1 ,329 16 ,268 3 ,314 1 ,868 16 ,554 3 ,264 2 ,439 16 ,579 3 ,071 2 ,625 17 4 4 6 3 ,381 2 ,233 18 ,763 3 ,816 3 ,095 2 0 ,765 4 ,734 3 ,689 21 ,436 5 ,207 727 223 266 238 1 ,196 422 449 325 1 ,413 427 458 528 1 ,789 500 579 710 2 ,106 678 569 859 2 ,647 892 656 1 ,099 2 ,861 888 722 1 ,251 3 ,010 8 861 9 765 10 1 ,384 11 197 12 >030 271 11 ,823 310 11,,785 477 11 ,799 tS8 12,,153 612 12, 772 558 12,,810 12 I,,193 13 13, 2 2 8 14 36 463 66 532 66 586 60 728 60 816 77 794 87 877 8 4 15 1,,641 16 18 ,444 635 305 16 ,253 1 ,251 19 ,920 635 412 17 ,631 1 ,242 22,,206 635 723 19,,395 1,r 4 5 3 26 • 400 670 1,,266 22,,505 1,,959 29,,630 670 1 ,845 25,,394 1,,721 31 =• 5 4 5 670 2 i•139 2 7 i• 409 1 ,327 • 34,,388 670 2.,382 29,,827 1 ,509 36 8 8 7 824 2 ,910 31 8 6 5 1 ,288 2 0 ,811 23 ,929 25,,907 2 8 ,608 2 8 ,734 32,• 392 36,,930 38 ,855 22 1 ,498 2 ,408 1 ,682 1 ,708 2,,900 1.,729 1 • 532 2,,799 1,,846 ,753 2,,657 2,,196 2 ,102 2 ,533 1 ,959 2,• 006 3,,414 2,,111 5 ,254 6 • 430 5:,466 5 •466 6 575 6,,676 5, 8 0 3 5,,803 6,,961 7,,261 6,,089 6,,089 8 305 7,,523 6,• 035 4,• 4 2 9 1,• 606 645 - - - 2,, 140 2,• 575 2,,132 - 2,,122 23 2 .859 24 2 ,960 25 374 380 434 501 6 ,091 7 475 5,,930 5,,124 806 591 401 584 439 671 954 843 757 26 27 28 29 30 31 32 33 1 ,291 34 76 367 101 329 84 374 86 481 92 566 119 500 107 664 112 35 787 36 , 3 ,650 5 ,810 5! ,035 5,,035 5 ,320 4 >251 , 1 •, 069 5 ,478 4 ,633 845 6,• 021 5,,076 945 (1 ] i C o r p o r a t e bonds i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s subsidiar ies; U.S. direct i n v e s t m e n t abroad is before subtracting net i n f l o w s of c a p i t a l from N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U.S. parents. Data are in m i l l i o n s of d o l l a r s . 1 17 18 19 20 21 7,• 213 5,,459 1,,754 7 • 916 5,,710 2,,206 8,,414 6,•115 2,• 299 9,,363 11 ,706 , 10,,360 7 ,954 2,,406 589 8 • 243 6, 604 1 ,639 , 9 ,302 12 ,610 10 ,651 8 ,609 2 ,042 668 8 ,103 37 6 • 910 38 1 •193 39 April 1990 Net Foreign A s s e t s Net F o r e i g n A s s e t s U.S. and F o r e i g n A s s e t s O u t s t a n d i n g Year-End Outstandings Year-End O u t s t a n d i n g s U.S. Net F o r e i g n A s s e t s 34,793 4 4 , 6 8 0 U.S. net f o r e i g n a s s e t s 41,666 ,420 F o r e i g n a s s e t s owned U.S. r e s i d e n t s U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n U.S. p r i v a t e d e p o s i t s 3 4 Foreign corporate equities Credit market instruments C o r p o r a t e bonds 5 6 7 1,,201 1 =097 1,,644 781 1. 647 885 2, 765 1, 055 4, 8 1 8 1,,587 5,,270 34,,995 8,,675 5,,048 37,,452 9,,135 4, 324 39,,454 9,,870 5, 238 43, 337 11, 086 6 ,452 46 ,063 12,,170 4,,785 914 1 ,412 2,,459 6,,512 939 1 ,968 3 ,605 7,,101 ,064 2,,118 3 ,919 7 ,051 960 2 ,249 3 ,842 6,,695 975 1,,847 3,,873 6,,296 774 1,,907 3,,615 2 ,225 15 ,576 2 ,621 17 ,187 2 ,501 18 ,715 2 ,540 19 ,993 3,,013 22 ,543 2 ,854 24 ,743 85 2.,219 108 1 ,841 91 2 ,606 119 2 ,550 128 2 ,883 298 3 ,398 508 3 ,797 40 ,286 995 3 ,171 34 ,717 1 ,403 42 ,321 1 ,117 3 ,416 37 ,276 512 45 ,690 1 ,179 3 ,863 4 0 ,736 -88 51 ,531 1 ,229 3 ,882 44 ,480 1 .940 56 ,288 1 ,290 3 ,898 49 ,283 1 ,817 60 ,998 1 ,290 4 ,163 51 ,007 4 ,538 65 ,067 1 ,373 3.,953 55,329 4 ,412 69 , 195 1 ,510 3 ,890 58 ,547 5 ,248 22 43 ,476 44 ,043 49 ,625 55 ,125 5 7 ,313 58,,690 77,,761 8 7 ,740 U . S . a s s e t s owned 23 24 25 3 ,098 2 ,911 3 ,087 3 ,233 3 ,409 2 ,981 3 ,499 4 ,260 3 ,233 4 ,458 5 ,515 3:,717 4 ,583 6,,081 3,,830 4,,963 6, 413 6, 693 5,,290 7,,679 7= ,259 5 ,851 7 ,409 9 ,404 11 ,808 13 ,064 11 ,035 8 ,842 2 ,193 669 10 ,336 14 ,796 12 ,715 10 ,251 2,,464 694 14, 599 17, 194 14,,400 11,,357 3 ,043 812 12,,643 16, 476 12 ,832 9,,830 3 ,002 1 ,432 25, 511 18, 8 0 6 15, 255 12,,091 3,.164 1,,304 29 ,517 19 ,246 14 ,929 11 ,322 3 ,607 1 ,491 3 4 1. 8 0 6 236 1, 163 790 5 6 7 4, 902 25, 456 6, 221 4, 714 27, 5 4 4 7, 2 1 5 8 9 10 11 Z, 740 4, 153 1, 033 1, 2 4 6 li,874 12 13 14 1-, 788 13,, 707 1,, 752 14 .424 15 16 121 1 ,710 17 18 19 20 21 988 1,• 013 739 1, 2 4 7 731 5 ! ,145 30,, 794 8,,208 - - - - by Bank To To To loans n.e.c. foreign o f f i c i a l foreign b a n k s other f o r e i g n 8 9 10 11 C o m m e r c i a l paper A c c e p t a n c e l i a b s . to banks U.S. g o v e r n m e n t l o a n s S e c u r i t y debt Trade debt 15 16 M i s c e l l a n e o u s U.S. assets U.S. eq. in IBRD, etc. U.S. g o v e r n m e n t d e p o s i t s U.S. dir. inv. abroad (1) Other 17 18 19 20 21 by f o r e i g n e r s U.S. c h e c k a b l e dep. U.S. time d e p o s i t s Net i n t e r b a n k c l a i m s 23 24 25 26 27 28 29 30 31 32 33 34 1 ,360 1 ,387 1 ,437 1, 620 1 ,982 2 ,212 2,,247 2,,826 Security RPs U.S. c o r p o r a t e e q u i t i e s C r e d i t market i n s t r u m e n t s U.S. g o v e r n m e n t s e c u r i t i e s Official holdings Private holdings U.S. corporate bonds (1) L o a n s to U . S . n o n b a n k b o r r . Open m a r k e t paper 35 36 149 1 ,036 112 1 ,078 109 1,,470 116 1 ,841 158 2 ,082 175 2 ,668 311 3 ,332 636 4 ,789 Security credit T r a d e credit 35 36 37 38 39 8 ,323 7 ,392 931 8 ,098 7 ,612 486 8 ,676 7 ,944 732 8 ,735 8 ,363 372 8 ,786 8 ,797 -11 8 ,659 9 • 054 -395 9 ,573 9 ,923 -350 10 ,888 10 ,815 73 M i s c e l l a n e o u s fgn. a s s e t s D i r e c t i n v e s t m e n t in U.S. Other 37 38 39 26 27 28 29 30 31 32 33 34 12 15 13 11 2 ,485 ,893 ,705 ,066 ,639 751 13,,835 16 • 908 14,,329 11,,498 2,• 831 959 (1) C o r p o r a t e bonds include net issues by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U.S. direct investment abroad is before s u b t r a c t i n g net i n f l o w s of c a p i t a l from N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U.S. p a r e n t s . Data are in m i l l i o n s of d o l l a r s . April 1990 Net F o r e i g n A s s e t s Net F o r e i g n A s s e t s 1 0 U.S. and F o r e i g n A s s e t s O u t s t a n d i n g Year-End Outstandings Year-End Outstandings 1969 1970 1971 1972 1973 1974 1975 1976 U.S. Net F o r e i g n A s s e t s 1 U.S. net f o r e i g n a s s e t s 4 7 ,391 48 ,073 31 ,799 2 2 ,081 32 ,296 4 2 ,818 61 ,569 72 ,158 1 F o r e i g n a s s e t s owned by U.S. r e s i d e n t s 141 ,475 147 ,041 159 ,171 173 ,666 190 ,262 2 1 5 ,596 245 ,414 285 ,273 2 5 ,105 1 ,173 2 ,564 798 865 1 ,234 706 2 ,172 560 3 ,329 1 ,857 4 ,946 2 ,292 5 ,772 4 ,754 7 ,441 3 4 6 ,953 49 ,245 13 ,198 6 ,573 5 2 ,051 14 ,072 7 ,641 56 ,573 15 ,012 10 ,537 61 ,120 16 ,042 10 ,026 67 ,416 17 ,000 9 ,011 81 ,234 19 ,372 9 ,585 95 ,340 26 ,54 0 6 ,029 765 2 ,095 3 ,169 5 ,824 623 2 ,031 3 ,170 7 ,291 806 2 ,372 4 ,113 10 ,389 1 ,002 3 ,528 5 ,859 13 .104 1 ,440 5 ,128 6 ,536 17 ,760 1 ,705 8 ,244 7 811 21 .619 1 ,964 9 ,335 10 ,320 28 2 15 12 3 ,169 26 ,849 3 ,968 28 ,187 4 ,270 30 ,000 3 ,226 31 ,463 4 ,156 33 , 156 181 11 ,237 32 ,684 559 11 ,147 35:.475 1,,282 12 12,,358 13 38, 734 14 278 4 ,618 279 5 ,581 314 6,,107 405 6 ,574 231 8 ,451 193 11 ,537 319 12,,202 12, 519 15 16 74 ,103 1 ,694 3 ,801 63 ,704 4 ,904 79 ,195 1 ,929 3 ,817 70 ,269 3,, 180 86,,437 2,, 181 3,,635 76 ,388 4,,233 100,,249 2, 799 4,,072 91,,715 1,,663 106 8 1 8 3,,445 3.,531 100 364 -522 119 904 4,.119 3, 540 114,. 140 - 1 ,,895 155, 267 5- 207 3- 407 126, 583 70 17 18 19 20 21 94 , ,084 98 ,968 127,,372 151,,585 157,,966 172,• 778 183, 8 4 5 213,.115 22 6,,175 8 ,789 16 • ,844 6,,696 7,,125 10,.456 6,.503 7, 454 5 18 4 6 8 ,270 10, 580 6,,787 11 ,165 13,,392 1, 5 9 7 13, 991 21 , . 123 362 13, 675 22, 579 - 9 , 497 16. 8 7 0 23 20, 680 24 - 1 5 , 447 25 26,,761 18 i775 12,,928 8, 979 3- 949 2,,027 27,-209 29,.749 22,.744 18, 4 1 8 4, 326 2, 698 30, 8 1 1 56, 475 49, 337 44, 988 4, 349 2, 990 39, 059 64,.803 57, 656 53, 4 5 8 4, 198 3,.061 3, 8 2 0 4,.307 4, 148 4,.086 500 33, 5 1 6 65, 100 57, 551 54,.099 3, 4 5 2 3, 130 32 4, 387 525 24, 221 70, 084 61 ,051 58, 271 2, 780 3, 980 253 4, 8 0 0 450 35,• 313 78, 394 68, 196 63,834 4, 362 4 ,573 325 5,• 300 375 4 2 949 92, 4 3 2 80, 8 7 4 73, 726 7,. 148 5, 463 495 5, 600 434 5, 8 3 0 349 7, 388 311 7, 2 4 5 366 8, 2 4 2 333 10, 214 293 12, 360 364 14, 197 35 18, 246 36 10, 476 11, 8 1 8 - 1 , 342 9, 996 13, 2 7 0 - 3 , 274 12, 727 13, 914 - 1 , 187 13, 4 7 8 14, 8 6 8 - 1 , 390 22, 149 20- 556 1, 5 9 3 29, 8 1 9 25, 144 4, 675 28, 370 27, 662 708 37, 010 37 30, 770 38 6, 2 4 0 39 2 3 4 U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n U.S. p r i v a t e d e p o s i t s 5 6 7 Foreign corporate equities Credit market instruments C o r p o r a t e bonds 8 9 10 11 Bank To To To loans n.e.c. foreign o f f i c i a l foreign banks other foreign 12 13 14 C o m m e r c i a l paper A c c e p t a n c e liabs. to banks U.S. g o v e r n m e n t loans 15 16 S e c u r i t y debt T r a d e debt 17 18 19 20 21 M i s c e l l a n e o u s U.S. assets U.S. eq. in IBRD, etc. U.S. g o v e r n m e n t d e p o s i t s U.S. dir. inv. abroad (1) Other 22 U . S . a s s e t s owned by f o r e i g n e r s 23 24 25 U.S. c h e c k a b l e dep. U.S. time d e p o s i t s Net interbank claims 26 27 28 29 30 31 32 33 34 Security RPs U.S. c o r p o r a t e e q u i t i e s C r e d i t market i n s t r u m e n t s U.S. g o v e r n m e n t s e c u r i t i e s Official holdings Private holdings U.S. c o r p o r a t e bonds (1) L o a n s to U . S . n o n b a n k borr. Open m a r k e t paper 35 36 S e c u r i t y credit T r a d e credit 37 38 39 M i s c e l l a n e o u s fgn. a s s e t s D i r e c t i n v e s t m e n t in U.S. Other 92 2 3 81 4 - (1) C o r p o r a t e b o n d s include net issues by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U.S. direct i n v e s t m e n t abroad is before s u b t r a c t i n g net i n f l o w s of c a p i t a l from N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U.S. p a r e n t s . Data are in m i l l i o n s of d o l l a r s . ,152 • 451 ,469 ,503 ,729 9 • 453 115 ,839 35 ,070 5 6 7 8 ,395 ,855 9 ,534 10 ,006 11 26 27 28 29 30 31 32 33 34 April 1990 Net F o r e i g n A s s e t s Net U.S. Year-End and Foreign 1978 1979 1980 U.S. Net 1981 1982 1983 Outstandings 1984 Foreign Assets 1 58, 219 60, 264 80, 722 87, 860 121, 4 6 5 121, 0 9 5 71, 936 - 1 0 , 701 U.S. 2 3 0 6 , 971 373, 282 429, 464 492, 467 538, 318 554, 281 575, 132 579, 662 Foreign assets owned U.S. residents 4, 969 8 , 756 3 4 Assets 11 Year-End Outstandings 1977 Foreign Assets Outstanding 5, 421 17, 131 5,.060 2 6 ,,913 12, 9 8 6 31, 3 9 2 14, 8 2 9 4 1 ,8 1 1 17, 5 6 0 46, 312 17, 601 47, 591 18,,197 41 ,8 0 6 14,,834 1 7 2 ,408 47:,799 19, 166 195, 724 4 9 , 001 17, 3 6 0 2 1 9 ,.058 54,,488 18, 5 6 8 2 0 8 ,,670 61 ,.102 25, 8 6 4 225- 9 0 7 64, 1 8 2 27: 0 1 7 233 580 67:,994 net foreign assets 1 by 2 U.S. official fgn. exchange £ n e t IMF p o s i t i o n U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 5 6 7 10, 110 129, 341 4 0 ,• 121 11, 2 3 6 157, 5 6 4 4 4 ,0 9 8 8 9 10 11 31- 4 4 9 2, • 9 3 7 16,• 184 12, 3 2 8 49- 9 4 0 5, 167 25, 7 0 7 19,,066 52 7 21 24 ,994 ,307 ,622 ,065 64 774 ,851 11 : 2 6 ,300 26:,623 6 7 ,801 12: 621 21:,837 33:,343 33,,785 5 • 435 15, 0 5 5 13, 2 9 5 37, 4 0 8 8 .475 14, 151 14,.782 30:,791 7:,602 11 0 0 4 12:. 185 Bank To To To loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 12 13 14 1..847 14 i ,212 41,,712 2,,880 15:,030 4 5 ,616 4 ,553 18 ,623 4 8 ,439 6:,955 2 2 ,714 5 2 ,280 10 ,829 2 9 ,636 5 6 ,304 15, 0 5 4 38,. 153 60, 5 7 6 21, 5 4 0 38, 031 64, 7 4 6 2 7 721 39 ,000 6 8 ,074 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 12 13 14 15 16 13 ,018 18 • 0 4 5 2 0 ,223 2 5 ,583 26,,264 22, 356 21 ,,413 19 ,780 ,026 ,529 ,480 ,240 777 2 0 7 ,616 8:,250 3.,238 2 0 8 .467 - 1 2 ,,339 218, 996 9, 3 0 0 3, 0 7 3 224, 826 -18, 203 240- 8 1 5 10- 5 7 4 3, 4 3 4 213, 347 13, 4 6 0 236, 756 11,,261 3,,484 2 1 5 :,934 6:,077 239 12 3 221 3 4 8 ,742 4 0 4 ,.607 416, 853 4 3 3 ,,186 5 0 3 :,196 5 9 0 ,363 23, 4 6 2 25, 821 - 1 7 , 119 19, 6 7 7 2 8 , 091 - 5 4 , 954 16,.017 34, 9 0 4 - 8 7 , 930 17:.494 35 • 4 1 8 - 7 5 :,461 19 5 4 2 39 9 7 8 - 7 3 ,177 U.S. checkable dep. U.S. time deposits Net interbank claims ,113 ,318 ,552 ,425 ,513 ,912 ,827 ,888 ,412 4, 3 9 5 64, 5 6 9 1 7 4 ,841 139:,323 1 2 0 ,408 18 ,915 2 1 ,985 4 ,199 9 ,334 4,.404 64, 391 2 0 0 ,373 1 4 8 ,826 126 ,730 2 2 ,096 30 .411 13 , 0 9 5 8 ,041 5,,986 76 ,279 2 2 4 • 064 161 , 144 131 ,815 2 9 ,329 4 0 ,979 15 ,612 6 ,329 6 96 247 176 138 38 45 18 7 6 94 205 205 143 62 60 31 8 26 Security RPs 27 U.S. corporate equities 28 Credit market instruments U.S. g o v e r n m e n t s e c u r i t i e s 29 30 Official holdings 31 Private holdings U.S. corporate bonds (1) 32 L o a n s to U . S . n o n b a n k b o r r . 3 3 34 Open market paper , ,777 ,956 ,374 ,382 ,935 - 163 6 3 151 2 ,885 ,581 ,505 ,761 ,038 190 7 3 178 17 18 19 20 21 140 5 3 135 -3 22 2 4 8 ,752 23 24 25 19 ,270 21 , 006 - 1 6 ,367 26 27 28 29 30 31 32 33 34 300 39 ,779 150 ,253 114 ,349 106 ,264 8 ,085 9 ,259 645 6 ,000 35 36 2 0 ,119 2 4 ,235 2 4 ,449 2 7 ,943 2 7 ,736 2 7 ,763 2 6 ,423 37 38 39 34 ,392 34 • 5 9 5 -203 5 3 ,124 4 2 .471 10 ,653 64 ,789 54 ,462 10 , 3 2 7 100 ,695 8 3 ,046 17 ,649 1 2 7 ,135 108 -714 18 ,421 1 3 6 ,103 124 ,677 11 ,426 148 • 7 7 9 137 . 0 5 9 11 ,720 3 1 3 ,018 2 3 .445 24:• 6 0 7 9 ,469 19 ,022 2 2 , 151 - 9 ,955 2, 4 2 6 42:,097 159 ,918 141 ,355 1 3 0 ,485 10 • 8 7 0 11 ,197 901 6 ,465 4 48 149 124 108 15 13 2 8 ,468 357 ,718 ,764 ,311 453 ,543 ,290 ,121 ,282 ,900 ,862 ,941 579 ,567 548 ,587 ,620 ,014 ,606 .357 ,339 ,271 2 7 ,929 169 , 3 8 9 164 ,581 4 ,808 Security debt Trade debt 15 16 M i s c e l l a n e o u s U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 U.S.assets owned by foreigners are in m i l l i o n s of dollars. 23 24 25 Security credit Trade credit 35 36 M i s c e l l a n e o u s fgn. assets D i r e c t i n v e s t m e n t in U . S . Other 37 38 39 ( 1 ) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d is b e f o r e s u b t r a c t i n g net i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data 22 April 1990 Net F o r e i g n A s s e t s Net F o r e i g n A s s e t s U.S. and F o r e i g n A s s e t s O u t s t a n d i n g 12 Year-End O u t s t a n d i n g s Year-End Outstandings 1985 1986 1987 1988 1989 U.S. Net F o r e i g n A s s e t s foreign a s s e t s - 1 2 4 , 183 -274,880 - 3 9 7 , 948 - 5 6 5 , 345 - 6 8 1 , 705 1 F o r e i g n a s s e t s owned by U.S. r e s i d e n t s 602, 759 657, 314 702, 032 745,.525 8 7 8 , 627 2 24, 8 0 8 37, 535 29, 058 46, 624 24, 4 3 7 45, 311 27, 108 41, 2 9 2 53- 5 9 9 46, 8 2 1 4 54, 659 242, 947 82, 286 63,,173 249, 8 4 5 89, 223 95 8 2 7 257- 619 94,,331 5 6 7 1 U.S. net 2 3 4 U.S. o f f i c i a l fgn. exchange 8 net IMF p o s i t i o n U.S. p r i v a t e d e p o s i t s 5 6 7 F o r e i g n corporate e q u i t i e s C r e d i t market i n s t r u m e n t s C o r p o r a t e bonds 39, 2 8 6 234, 736 71. 787 50- 004 236,• 352 74,,905 3 8 9 10 11 Bank To To To loans n.e.c. foreign o f f i c i a l foreign banks other foreign 27, 945 6, 193 9, 663 12,.089 26,.915 6, 178 10,.699 10, 038 23, 2 9 5 5, 2 6 0 7, 8 5 0 10, 185 21 ,451 4,,756 7 798 8,,897 22, 4 5 5 2, 8 6 3 9 ,480 10,,112 8 9 10 11 12 13 14 C o m m e r c i a l paper A c c e p t a n c e liabs. to banks U.S. g o v e r n m e n t loans 33, 923 31- 649 69, 432 37 4 0 7 26, 273 70, 8 5 2 41 ,245 27, 648 68, 473 50,,879 24 • 8 6 7 63,,425 63, 022 17, 8 3 7 59,,974 12 13 14 15 16 S e c u r i t y debt T r a d e debt 17 18 19 20 21 M i s c e l l a n e o u s U.S. a s s e t s U.S. eq. in IBRD, etc. U.S. government d e p o s i t s U.S. dir. inv. abroad (1) Other 2 2 U . S . a s s e t s owned by f o r e i g n e r s - 32,,750 15 16 370 559 ,616 ,877 ,682 392, 011 21,,223 2 519 355 ,445 12 ,824 17 18 19 20 21 1099,,980 1310 ,870 1560 ,332 22 22 ,383 41 ,952 - 1 ,773 21 ,823 45 ,006 5 ,064 21 ,612 5 4 ,795 - 5 ,379 23 24 25 17 ,341 2 5 0 ,565 713 ,845 4 3 3 ,622 2 6 0 ,411 173 ,211 201 ,113 70 , 123 8 ,987 26 27 28 29 30 31 32 33 34 - - 18,,458 21, 342 246, 747 14, 4 4 2 3,.746 237, 671 - 9 , 112 276, 8 1 8 15,,924 2 ,767 ! 2 6 2 • 353 - 4 ,226 313, 336 17-. 159 2, 8 8 1 306,• 688 - 1 3 ,,392 726,,942 932 ,194 23 .786 41 ,027 - 4 5 ,891 19, 647 23 24 25 U.S. c h e c k a b l e dep. U.S. time d e p o s i t s Net interbank c l a i m s 21 107 43 , 686 - 5 8 ,630 26 27 28 29 30 31 32 33 34 S e c u r i t y RPs U.S. c o r p o r a t e e q u i t i e s C r e d i t market i n s t r u m e n t s U.S. g o v e r n m e n t s e c u r i t i e s Official holdings Private holdings U.S. c o r p o r a t e bonds (1) L o a n s to U . S . n o n b a n k borr. Open m a r k e t paper 7 123 367 229 141 87 97 32 8 35 36 S e c u r i t y credit T r a d e credit 37 38 39 M i s c e l l a n e o u s fgn. a s s e t s D i r e c t i n v e s t m e n t in U.S. Other ,326 ,684 ,918 ,850 ,875 ,975 ,068 ,881 ,119 - 10 ,676 166 ,641 466 • 142 275 255 175 ,025 100 2 3 0 137 ,759 43 ,948 9 , 180 - 2 8 ,442 32 ,357 193 ,409 184 ,613 8 ,796 237 ,456 220 • 412 17 ,044 12 173 527 315 219 96 156 45 9 ,902 ,418 ,940 ,888 ,827 • 061 ,760 ,845 ,447 - 28,,737 335 19 2 322 -9 14 ,000 197 ,016 630 ,274 384 .434 2 6 2 ,819 121 ,615 180 ,195 56 ,856 8 ,789 - - 32 ,537 34 ,964 2 9 0 ,621 271 ,788 18 ,833 362 .723 328 ,851 33 ,872 (1) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U.S. direct i n v e s t m e n t abroad is before subtracting net inflows of c a p i t a l from N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U.S. p a r e n t s . Data are in m i l l i o n s of d o l l a r s . - 35 ,839 35 36 471 • 714 388 ,511 8 3 ,203 37 38 39 - April 1990 Tangible Asset H o l d i n g s Tangible Asset Holdings 13 D i s t r i b u t i o n of T a n g i b l e A s s e t s by Sector Year-End O u t s t a n d i n g s 1945 Year-End Outstandings 1946 1947 1948 1949 1950 1951 1952 1 2 3 4 5 6 463 ,330 140, 2 5 7 78, 589 106, 2 1 8 136. 330 1, 936 553, 2 5 3 167, 369 92, 8 8 7 121 •767 168, 746 2,.484 648,• 655 204 ,996 100, 571 138, 660 201, 369 3, 059 714, 8 7 1 235, 189 103, 332 149,.067 223, 968 3,.315 745, 4 4 2 258. 429 101, 394 152,.572 229- 646 3-.401 856, 994 305,,993 122,,739 165,.420 259,,057 3,,785 952, 616 346 8 4 7 136,,402 175, 759 289 ,338 4,,270 7 8 9 10 11 12 114, 511 6 ,449 7, 037 14, 609 8 4 , 689 1, 727 140, 749 8, 2 3 0 9, 003 18, 466 102, 8 2 8 2, 2 2 2 171,.237 10- 036 11 •918 22, 8 8 4 123, 675 2, 724 192,.256 10,,855 14,• 536 25 ,727 138 ,191 2,,947 203,.761 11,.291 16,.462 26,.796 146,,192 3,,020 226,,903 12,,957 19 ,007 30,,090 161 >498 3,,351 251 •,838 14,,806 -440 21 • 33 166 178,,656 3,,770 267,,074 P l a n t and e q u i p m e n t ( 1 ) 7 15, 790 Nonprofit institutions 8 Farm b u s i n e s s 22,,750 9 34,• 122 Nonfarm noncorp. business 10 190, 4 9 3 N o n f a r m n o n f i n . c o r p o r a t i o n s 11 3, 919 Financial corporations 12 13 14 15 16 17 18 135, 966 70, 169 3, 343 11, 393 48,.088 2,.973 160, 323 85, 075 3, 8 0 7 13- 158 54,.867 3,>416 190, 5 2 8 104, 5 2 0 4, 304 15, 191 62,.581 3,,932 2 1 0 ,672 119,,611 4,,504 16,,266 66 • ,072 4 ,219 223,,263 129,,997 4 ,573 16,,841 67,,467 4 ,385 2 4 9 ,242 150 ,019 4 ,816 17,,937 71 ,745 4 ,725 273,,009 168 ,748 5,,029 18 ,854 75 ,397 4,,981 288,.153 R e s i d e n t i a l s t r u c t u r e s (1) 13 Households: o w n e r - o c c u p a n t s 14 182,,250 5, 077 Nonprofit institutions 15 Farm b u s i n e s s 19 •121 16 76,,636 Nonfarm noncorp. business 17 5 ,069 N o n f a r m n o n f i n . c o r p o r a t i o n s 18 ,084 664 ,033 ,387 96 ,135 ,454 13 ,462 60 ,219 108,,823 24,,908 14 ,215 69 ,700 108,,003 I n v e n t o r i e s (2) 23,• 307 Farm business 13 ,882 Nonfarm noncorp. business 70,,814 Corporations 8 6 ,566 108,,189 124, 415 133,,989 C o n s u m e r d u r a b l e s 176 30 63 50 32 194 ,531 33 ,849 71,,200 52 ,981 36,,001 500 203 , 124 Land at market value 36 • 5 8 8 HouseholdsSnonprofit insts. Farm business 71,,681 55,,322 Nonfarm noncorp. business 39 ,000 Nonfarm nonfinan. corps. 533 Financial corporations 612,,603 221,, 149 98,,687 145 •469 144 ,164 3,,134 643, 8 2 8 Total real e s t a t e 238 • 260 HouseholdsSnonprofit insts. 100,,009 Farm business 149,•376 Nonfarm noncorp. business 152,,984 Nonfarm nonfin. corporations 3,,199 Financial institutions 19 20 21 22 49,.870 14 , 145 6 ,913 28 ,812 68 19 8 40 ,938 ,639 ,889 ,410 79 21 10 48 ,877 ,038 ,362 ,477 85 19 11 53 ,122 ,304 ,999 ,819 77 16 11 49 23 46 ,210 53 ,171 24 25 26 27 28 29 116 ,773 14 ,086 46 ,014 36 ,608 19 ,856 209 130 .072 17 ,086 51 ,087 39 ,545 22 ,092 262 141 21 52 42 25 ,884 ,007 ,424 ,833 ,285 335 150 23 53 45 27 ,567 ,965 ,226 ,269 ,739 368 154 26 51 47 29 30 31 32 33 34 35 328 ,874 93 ,700 60 ,526 93 ,779 79 ,166 1 ,703 383 ,423 113 ,741 68 ,700 105 ,853 92 ,996 2 ,133 443 139 73 119 108 2 ,053 ,282 ,472 ,026 ,707 ,566 480 158 76 125 117 2 • 114 ,228 ,032 •802 ,384 ,668 4 9 9 ,580 171 • 042 75,,075 129 ,187 121,,652 2.,624 65 ,129 76 ,254 ,768 ,002 ,427 ,276 ,682 381 ,525 ,012 ,341 , 123 ,615 434 1000,,343 Total h o l d i n g s of t a n g i b l e s 373, 694 H o u s e h o l d s & n o n p r o f i t insts. 136, 8 5 9 Farm business 179,.962 Nonfarm noncorp. business 305, 376 Nonfarm nonfinan. corps. Financial corporations 4, 4 5 2 1 2 3 4 5 6 19 20 21 22 ( H o u s e h o l d s ) 23 24 25 26 27 28 29 Memo: 5 5 8 ,115 196 .746 8 8 ,949 137 ,609 131 ,966 2,,845 (1) At current c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . 30 31 32 33 34 35 April 1990 Tangible Asset Holdings T a n g i b l e Asset H o l d i n g s D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r 14 Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 1957 1351 ,8 1 7 526- 747 158, 6 6 2 219, 296 439, 521 7, 591 1958 1408, 293 5 5 1 , 987 169, 340 225- 664 4 5 3 , 142 8 , 160 1959 1476, 222 581 • 117 175- 951 233- 370 476- 8 8 0 8, 904 1960 1534, 146 611 ,811 178, 627 240, 944 493, 209 9, 555 1 2 3 4 5 6 338 837 811 512 385 793 1090- 696 422- 088 137. 732 189 980 335. 722 5 174 1176, 8 5 0 460, 4 4 8 142, 431 200, 657 367, 317 5, 997 1283, 663 504, 056 150, 569 211, 8 7 2 410- 2 3 8 6, 928 7 Plant and equipment (1) 8 Nonprofit institutions Farm b u s i n e s s 9 10 Nonfarm noncorp. business 11 N o n f a r m nonfin. c o r p o r a t i o n s 12 Financial corporations 280 890 16 502 23,.365 35 i ,264 2011,575 4 ,184 293 079 17 5 7 7 23, 670 36- 426 210; 965 4, 441 319, 968 19 639 24 8 1 0 40 303 2 3 0 103 5 113 355- 916 22,.090 25, 902 44, 579 257, 504 5,.841 380, 667 23, 677 26,• 371 46,• 993 277, 332 6,.294 392. 6 6 0 25, 029 26- 8 6 7 48 ,. 120 285- 999 6, 645 409, 015 26, 594 27 487 50. 098 297, 664 7, 172 420, 382 7 28,. 148 8 9 27,.590 51,• 270 10 305, 767 11 7, 607 12 13 R e s i d e n t i a l s t r u c t u r e s (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 300 194 5 19 77 5 ,579 ,135 ,099 , 151 ,081 ,113 317, 8 5 2 209- 632 5:.193 19,,342 78,.479 5,,206 342, 4 2 7 231 ,-005 5,,369 19,,639 81 -055 5 359 361 ,,660 248, 279 5 -517 19 >759 82,,643 5,,462 375, 4 5 5 261 , 335 5,,626 19 ,610 8 3 ,342 5 ,542 390, 946 275,,396 5..801 19-• 4 3 7 8 4 ,,562 5,,750 409,,688 291 ,490 6,,035 19 ,382 8 6 ,705 6 ,076 425, 962 305, 663 6, 241 19,,235 8 8 475 6,,348 13 14 15 16 17 18 19 I n v e n t o r i e s (2) 20 Farm b u s i n e s s 21 Nonfarm noncorp. business 22 Corporations 109 22 14 72 ,088 ,000 ,378 ,710 106, 734 ,200 21 , 14 ,276 71 ,258 113,,975 19 ,900 15,155 78 ,920 122 19 15 86 126 ,259 22,,600 16 -886 8 6 ,773 131 .714 22, 100 16 ,881 92 ,733 135, 508 23,,300 16 ,618 95 ,590 19 20 21 22 1 Total h o l d i n g s of t a n g i b l e s 2 HouseholdsSnonprofit insts. 3 Farm b u s i n e s s 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 1044 397 134 184 322 4 142 ,973 147 ,080 157 ,315 24 Land at m a r k e t value 25 HouseholdsSnonprofit insts. 26 Farm b u s i n e s s 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations 2 1 0 ,808 39 , 128 70 ,295 57 ,789 42 ,987 609 225 42 73 60 48 243 47 78 64 52 30 Total real estate 31 HouseholdsSnonprofit insts. 32 Farm b u s i n e s s 33 Nonfarm noncorp. business 34 N o n f a r m nonfin. c o r p o r a t i o n s 35 Financial institutions 669-365 253,208 98,871 152,559 161 ,351 3,376 707,691 273,181 102,540 157,556 170,748 3,666 23 Consumer durables (Households) (1) At current cost. (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . ,951 ,606 .520 ,799 ,293 733 ,165 , 120 ,082 ,144 -935 884 764-146 301-084 108,171 165,439 185,168 4,284 ,745 ,900 ,890 ,955 126 21 16 88 ,341 ,"!00 .370 ,771 171 ,877 176 ,175 181 ,962 189 ,009 193 ,656 23 271 ,465 56 ,293 8 5 ,008 68 ,760 60 ,317 1 ,087 2 9 3 ,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 8 0 ,407 1 ,732 358 ,638 78 -103 108 ,502 8 4 ,581 8 5 ,504 1 ,948 24 25 26 27 28 29 830 329 116 173 205 4 877,,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 30 31 32 33 34 35 •855 ,852 ,116 • 945 ,974 .968 April 1990 Tangible Asset Holdings Tangible Asset Holdings D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r 15 Year-End Outstandings Year-End O u t s t a n d i n g s 1961 1 2 3 4 5 6 1585, 735 633,-963 185, 099 247, 608 508, 781 10, 284 1962 1646, 4 4 2 659, 496 191, 4 6 9 257, 071 527,.068 11, 3 3 8 1963 1710,,530 684,,885 200,,695 2 6 5 ,377 5 4 7 ,336 12,,237 1964 1806,,247 727,,082 209,,693 279,,761 575,,984 13,,727 1965 2418 1002 242 361 789 22 590,,951 47 ,686 36 ,105 72 ,705 4 2 0 ,267 14 ,188 640,,677 51 ,320 38 ,600 77 ,454 4 5 7 ,368 15 ,935 709 57 41 85 506 18 ,247 P l a n t and e q u i p m e n t (1) 7 ,599 Nonprofit institutions 8 9 ,838 Farm b u s i n e s s Nonfarm noncorp. business ,050 10 N o n f a r m n o n f i n . c o r p o r a t i o n s 11 ,007 Financial corporations ,753 12 567 408 10 20 118 10 ,478 ,411 ,047 ,011 ,118 ,891 596 ,380 4 2 9 ,580 10,,681 20 5 1 7 123,,952 11 ,650 667 480 12 22 139 13 ,831 R e s i d e n t i a l s t r u c t u r e s (1) Households: owner-occupants ,332 Nonprofit institutions ,042 Farm business ,070 N o n f a r m noncorp. b u s i n e s s ,706 Nonfarm nonfin. corporations ,681 13 14 15 16 17 18 ,035 ,000 ,838 ,197 185 ,170 27,,400 16 ,329 141,,441 197,,377 27,,900 17,,102 152,,375 211 29 17 165 ,732 I n v e n t o r i e s (2) Farm business ,100 N o n f a r m noncorp. b u s i n e s s ,624 Corporations ,008 19 20 21 22 449,,563 33,,032 28,,753 54, 996 323, 8 8 4 8,,898 468 • 552 35,,774 29,,886 57, 649 335,,628 9,,615 494,,943 38,,729 31,,107 61 , 148 353,,116 10 ,843 535 42 33 66 380 12 13 14 15 16 17 18 441,,560 318,• 004 6, 564 19 186 91 , 048 6 , 758 459,,106 330,,988 7,, 129 19,,091 94,,537 7,,361 471 ,540 339,,884 7 ,513 18 ,795 97 ,334 8 ,014 502,,050 361,,593 8 ,303 19 ,129 104 ,041 8 ,984 526 ,165 378 ,819 9 ,034 19 ,179 109 ,329 9 ,804 19 20 21 137 23 15 97 143 25 15 102 149 25 15 108 155 24 15 115 169 28 15 125 ,508 ,700 ,129 ,679 ,367 ,500 ,089 ,778 1968 2228,,602 899,,889 2 5 0 236 332,,654 726 638 19,,185 432, 2 6 0 30, 386 27, 960 52, 717 313, 132 8,• 065 ,761 ,200 ,780 ,781 1967 2095,.633 844, 294 237,,206 319,,046 677,,610 17,,477 1920, 053 766,,263 2261,082 2 9 4 ,810 617,,322 15,,576 7 8 9 10 11 12 ,164 ,800 ,599 ,765 1966 ,711 ,782 ,313 ,192 ,964 ,460 ,078 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. ,422 Farm business ,181 Nonfarm noncorp. business ,384 Nonfarm nonfinan. corps. ,967 Financial corporations ,124 1 2 3 4 5 6 23 196 ,795 2 0 2 ,317 2 1 2 ,801 2 2 3 ,713 236 ,061 258,,487 283,,210 314 ,217 C o n s u m e r 24 25 26 27 28 29 377 ,956 8 2 ,214 114 ,153 8 8 ,244 91 , 126 2 ,219 391 86 118 91 93 2 408 88 126 95 95 2 4 3 0 ,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, 8 9 4 105,,011 3,,289 510, 958 125,• 098 163, 219 114, 146 105, 2 4 5 3, 2 5 0 515,,051 Land at m a r k e t value H o u s e h o l d s S n o n p r o f i t insts. 138,,232 Farm business 149,• 173 N o n f a r m noncorp. b u s i n e s s 119,,004 N o n f a r m n o n f i n a n . corps. 105,,271 3,,371 Financial corporations 24 25 26 27 28 29 1271 ,117 525 ,906 180,,056 2 5 0 ,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 1562,,059 T o t a l real estate HouseholdsSnonprofit insts. 682,,810 190 -450 Farm business Nonfarm noncorp. business 307,,138 Nonfarm nonfin. corporations 366,,666 Financial institutions 14,,995 30 31 32 33 34 35 30 31 32 33 34 35 1055,,793 433,,804 145,,962 207,,341 260,,919 7,,767 ,695 ,030 ,425 ,758 ,042 ,440 1096,,934 453,,627 150,,720 216,,263 267,,707 8 ,617 ,129 ,913 ,314 ,265 ,015 ,622 1135 ,820 4 6 8 • 326 158 ,917 224,,556 274,,676 9,,345 1201 • ,985 499,,360 168 4 7 8 2 3 7 ,636 286,,135 10,,376 durables ( H o u s e h o l d s ) 23 C I ) At current c o s t . ( 2 ) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 Tangible Asset Holdings Tangible Asset Holdings D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r 16 Year-End Outstandings Year-End Outstandings 1975 1 Total h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. 2 Farm business 3 Nonfarm noncorp. business 4 Nonfarm nonfinan. corps. 5 Financial corporations 6 3396 ,341 1411 ,761 343,,349 5 1 7 ,207 1089,,252 34,,772 3 9 0 7 ,883 1610,,115 4 2 8 ,864 5 9 7 ,266 1231,,514 4 0 ,124 4580 1846 475 687 1521 49 564 ,295 ,728 ,699 ,038 ,804 4981 1999 534 741 1651 54 ,131 , 722 ,228 ,299 ,785 ,097 950 ,521 8 0 ,703 53 ,641 115 ,702 672 ,937 27,,538 1033,,065 88,,782 5 9 ,034 126,,814 727,,758 30,,677 1157,,661 98 ,473 66,,380 143 ,735 813,,295 35,,778 1422 115 82 172 1006 44 ,612 ,495 ,745 ,865 ,557 ,950 1570 ,979 120 ,886 90 ,914 184 ,819 1124 ,220 50,,140 772 551 13 23 165 17 ,214 ,874 ,720 ,998 ,106 ,516 860 614 14 25 185 20 ,459 ,337 ,936 ,515 ,471 ,200 964,,656 687,,415 16,,802 27,,165 212,,013 21,,261 1109,,890 791,,680 19 ,450 29,,703 2 4 6 ,015 23,,042 1262 902 21 33 278 24 ,175 ,948 ,899 ,620 ,794 ,914 1363 978 23 35 299 25 240 31 19 190 ,310 ,100 ,134 ,076 257 35 21 200 ,804 ,400 ,671 ,733 285,,593 44,,300 24, 014 217, 2 7 9 352,,625 65,,500 27- 309 259,,816 4 2 3 ,315 62 ,400 29 ,600 331,,315 2828 1167 281 417 934 27 7 P l a n t and e q u i p m e n t (1) Nonprofit institutions 8 Farm business 9 Nonfarm noncorp. business 10 Nonfarm nonfin. corporations 11 Financial corporations 12 784 ,783 64 ,763 45 ,609 94 ,332 5 5 8 ,739 21,,340 865 71 49 104 615 24 13 R e s i d e n t i a l s t r u c t u r e s ( 1 ) Households: owner-occupants 14 Nonprofit institutions 15 Farm b u s i n e s s 16 Nonfarm noncorp. business 17 Nonfarm nonfin. corporations 18 731 ,905 5 2 4 ,443 13 ,167 2 3 ,387 155 ,010 15,,898 19 I n v e n t o r i e s (2) Farm b u s i n e s s 20 Nonfarm noncorp. business 21 Corporations 22 232,,396 31,,800 18,,346 182,, 2 5 0 23 C o n s u m e r d u r a b l e s (Households) 24 Land at m a r k e t value HouseholdsSnonprofit insts. 25 Farm b u s i n e s s 26 Nonfarm noncorp. business 27 Nonfarm nonfinan. corps. 28 Financial corporations 29 30 Total real e s t a t e HouseholdsSnonprofit insts. 31 Farm b u s i n e s s 32 Nonfarm noncorp. business 33 Nonfarm nonfin. corporations 34 Financial institutions 35 C I ) At current c o s t . ( 2 ) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of d o l l a r s . ,894 ,540 ,353 ,227 ,953 ,821 3079 1278 303 458 1008 31 ,907 ,091 ,502 ,444 ,425 ,445 2 6 5 2 ,689 1096 ,434 2 7 3 ,192 392,,318 8 6 5 ,814 24 ,931 ,921 ,707 ,161 ,703 ,681 ,669 ,500 • 640 ,842 ,656 ,525 ,837 428,,828 64,,300 27,,281 337,,247 5557 2253 614 822 1805 61 ,625 ,408 ,883 ,646 ,605 ,083 1 2 3 4 5 6 1709 ,871 7 8 129 ,743 9 101,,589 197 ,623 10 1224,,508 11 56,,408 12 1532,,333 1106,, 144 26,,691 38 ,804 333,,078 27,,616 13 14 15 16 17 18 463, 282 19 60,,200 20 27,• 910 21 375, 172 343,, 730 372 ,434 393,,731 424, 684 470,,500 544,,179 595,,699 559,,875 150,-331 172,,396 124,• 630 108,,927 3,,591 5 7 8 ,805 157,,790 177,,027 128,,688 i n , ,576 3,,724 617,,392 174,,384 188,,946 135,,600 114, 5 5 5 3,, 907 688,,343 194 078 212, 8 5 0 154, 366 122, 954 4,.095 8 1 7 ,,207 230, 012 267, 281 180,,207 135,.361 .346 4 , 928,,283 261,,774 296,,963 206,,440 158, 2 5 2 4,,854 1022,,915 2 8 0 • 640 343,,291 2 3 0 • 078 164,.377 4, 5 2 9 1199, 386 338 077 414, 2 9 0 264, 035 178,,309 4,,675 24 25 26 27 28 29 2 2 3 0 ,683 980,,222 268,,828 444,,125 514,,799 22,,709 2577, 2 7 2 1132,,182 329, 2 7 9 515,,357 575,,415 25,.039 2984,,943 1293,,192 369 • 4 8 0 592,,280 700,,869 29,,122 3238 ,721 1394,,204 4 2 0 ,989 641,,967 751,,871 29,,690 3651,,334 1590,• 2 4 7 499,-785 716,,372 813,,543 31,,387 30 31 32 33 34 35 1716,,078 746,,934 217,,115 334,,432 400,,705 16,,892 1821 ,197 788 ,951 2 2 4 ,590 354 ,843 4 3 4 ,192 18,,621 2 0 0 4 ,780 8 7 7 ,857 2 4 0 ,988 3 9 0 ,632 4 7 4 ,407 20,,896 652, 753 23 April 1990 Tangible Asset Holdings Tangible Asset Holdings D i s t r i b u t i o n of T a n g i b l e A s s e t s by S e c t o r ^ ^ Year-End Outstandings Year-End O u t s t a n d i n g s 1977 1978 1979 1980 1981 1982 1983 11394, 911 4614, 5 1 0 971, 155 2061,.311 3611, 178 136,,757 1984 11977,,941 Total h o l d i n g s of t a n g i b l e s Households&nonprofit insts. 4894, 5 5 3 Farm business 859, 083 Nonfarm noncorp. business 2219,,481 Nonfarm nonfinan. corps. 3849, 783 Financial corporations 155,.041 1 2 3 4 5 6 1 2 3 4 5 6 6319, 155 2614, 2 9 2 677, 4 8 6 953, 995 2004, 344 69, 038 7404, 8 2 5 3077, 067 797, 8 8 6 1136, 511 2311, 049 82, 312 8 4 9 7 , 388 3505, 641 927, 2 9 7 1353, 8 8 5 2618 467 92,,098 9578, 964 3874, 8 7 7 1022, 0 5 7 1587, 8 4 7 2988,,346 105,,837 10604, 8 0 5 4257, 978 1026,,435 1837, 8 1 9 3362,,500 120,,073 10824, 605 4268, 701 984, 568 1934, 2 9 7 3507, 8 3 7 129,,202 7 8 9 10 11 12 1895, 798 141, 601 114, 5 5 9 219, 394 1356, 144 64, 100 2199, 699 167,,725 133,• 912 260, 5 9 3 1560,• 8 2 8 76,,641 2459,,108 175,.421 149,,838 291,,896 1755,,579 8 6 ,374 2807,,427 193,,848 167 397 336 ,461 2 0 1 0 ,371 99 ,350 3 1 7 5 ,130 212,,434 181,,202 391,,737 2 2 7 7 ,016 112 ,741 3348,,274 217,,772 181,,865 4 2 0 ,209 2406 ,915 121,,513 3450,,406 233,,395 184,,328 435 ,059 2 4 6 9 • 044 128 ,580 3630,,176 P l a n t and e q u i p m e n t ( 1 ) Nonprofit institutions 246,,302 Farm business 183,,017 Nonfarm noncorp. business 455,,239 Nonfarm nonfin. corporations 2599,.950 Financial corporations 145, 668 13 14 15 16 17 18 1785, 154 1296,,125 30,,820 43,•801 384,, 099 30 ,309 2095,,090 1527,,137 35 ,898 49 ,624 4 4 8 918 33 ,513 2407 1734 41 54 540 36 3112,,749 2187 547 53 ,263 63 ,752 765 ,267 4 2 ,920 13 3308 ,357 R e s i d e n t i a l s t r u c t u r e s (1) Households: o w n e r - o c c u p a n t s 14 2316,,297 Nonprofit institutions 15 56 ,649 Farm business 16 65 ,618 N o n f a r m n o n c o r p . b u s i n e s s 17 ,875 824 N o n f a r m n o n f i n . c o r p o r a t i o n s 18 44 ,918 588 ,241 73 ,700 32 ,724 481 ,817 674 80 34 559 19 20 21 505 59 29 416 ,683 ,300 ,454 ,929 > 398 • 013 ,359 ,431 ,884 ,711 ,837 ,700 ,882 ,255 2676 1902 46 59 628 39 ,405 ,860 ,487 ,241 ,290 ,527 2928 2062 50 63 710 41 ,454 ,051 ,956 ,118 ,350 ,979 2893 2017 50 61 722 41 739 84 33 620 ,312 ,500 ,996 ,816 788 81 33 673 ,988 ,554 ,496 ,938 771 79 33 659 ,937 ,467 ,559 ,872 ,790 ,249 .459 ,248 , 120 ,091 787 79 33 674 ,190 ,365 ,617 ,208 858 80 36 740 ,166 I n v e n t o r i e s (2) Farm b u s i n e s s ,860 .407 Nonfarm noncorp. business ,899 Corporations 19 20 21 23 725 ,497 8 2 0 ,462 1019 ,969 1096 ,474 1141 ,689 1206 ,882 1285 ,977 C o n s u m e r 24 25 26 27 28 29 1407 ,023 4 2 0 ,249 459 ,826 321 ,048 200 ,962 4 ,938 1701 ,333 525 ,845 5 4 0 ,650 394 ,276 234 ,891 5 ,671 2030 629 642 486 266 5 ,751 ,554 ,328 ,223 ,922 ,724 2 3 3 5 ,851 711 ,713 710 ,919 5 8 9 ,100 317 ,632 6 ,487 2 6 1 5 ,759 8 3 6 ,063 700 ,561 702 ,236 369 ,567 7 ,332 2669 ,246 841 ,214 661 ,583 758 ,178 4 0 0 ,582 7 ,689 2837 933 643 827 425 8 2 8 9 5 ,265 Land at m a r k e t value HouseholdsSnonprofit insts. 989 ,328 Farm b u s i n e s s 529 ,588 Nonfarm noncorp. business 902 ,960 Nonfarm nonfinan. corps. 4 6 4 ,016 Financial corporations 9 ,373 24 25 26 27 28 29 30 31 32 33 34 35 4 2 0 2 ,970 1877:,585 556 ,547 8 5 7 ,209 8 9 7 ,644 33 ,985 4987,,604 2244, 477 655,,976 1002,,718 1044,,393 40,,040 5737,,010 2566,,976 767,,791 1201, 787 1158,,954 41,,502 6482,,882 2839,,494 8 5 0 ,110 1420,,872 1326 ,605 45,,801 7206 ,731 3143,,898 8 5 1 ,654 1655 ,019 1505, 697 50,,463 7301,,023 3107,,437 812,,210 1744,,349 1585 403 51,,624 7748,,658 3386,,228 8 0 0 ,831 1867,,172 1639,,527 54,,900 8105,,378 T o t a l real estate HouseholdsSnonprofit insts. 3585,,324 Farm business 691 ,661 Nonfarm noncorp. business 2019,,341 Nonfarm nonfin. corporations 1747 ,608 Financial institutions 61,,444 30 31 32 33 34 35 925 ,294 ,684 .423 ,710 ,368 ,006 ,177 durables 7 8 9 10 11 12 ( H o u s e h o l d s ) 23 (1) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . April 1990 Tangible Asset Holdings Tangible Asset Holdings 18 Distribution Year-End of T a n g i b l e A s s e t s by Sector Year-End Outstandings 1 T o t a l h o l d i n g s of t a n g i b l e s 2 Householdsfinonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 1 2 4 8 3 ,,161 5 1 8 7 i• 4 3 1 754,,406 2 3 7 0 -320 3999 • 580 171 ,424 1 3 1 8 9 ,• 4 9 2 5624, 813 6 9 1 ,,865 2514, 609 4 1 5 9 ,, 0 0 5 199,,200 14171, 617 6166, 8 8 9 7 0 2 ,, 6 9 5 2693, 421 4 3 8 4 ,,929 2 2 3 ,,683 Outstandings 1 4 9 7 8 ,,708 6 5 6 0 , 104 7 3 3 ,,907 2784, 099 4641, 794 2 5 8 ,,804 1 5 9 5 0 ,,930 7 0 5 0 ,,811 796 8 1 5 2 9 3 3 ,,797 4 8 7 6 ,,159 2 9 3 ,,348 1 2 3 4 5 6 7 P l a n t and e q u i p m e n t (1) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations 12 Financial corporations 3771 254 175 475 2704 160 ,680 ,353 ,723 ,690 ,974 ,940 3 9 4 9 ,,846 2 6 4 ,202 170,,779 4 9 2 ,,282 2 8 3 5 ,,201 187,,382 4 1 4 2 ,,766 2 7 9 ,,154 168,,155 5 1 5 ,,024 2 9 7 0 ,,274 2 1 0 ,,159 4 3 6 4 ,,789 2 9 0 ,,704 162,,491 5 3 7 ,,956 3 1 2 9 ,,869 2 4 3 ,,769 4 6 0 9 ,471 3 1 0 ,251 1 6 6 ,650 5 6 4 ,867 3 2 9 1 ,,696 2 7 6 ,007 7 8 9 10 11 12 13 R e s i d e n t i a l s t r u c t u r e s ( 1 ) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 3482 2436 59 65 874 46 ,951 ,413 ,431 ,960 ,619 ,528 3686 2603 61 65 908 47 4 0 5 0 ,,101 2 8 7 7 ,869 6 7 ,099 6 8 ,077 9 8 5 ,831 51,,225 4 2 3 5 ,330 3 0 4 2 ,,073 6 8 ,637 6 7 ,351 1 0 0 5 ,423 5 1 ,846 4548 3285 72 67 1067 54 ,163 ,687 ,863 ,922 ,207 ,484 13 14 15 16 17 18 ,268 ,277 ,876 ,115 9 2 0 ,690 6 9 ,221 4 1 ,804 8 0 9 ,,665 1003,,997 75 ,731 4 5 ,529 8 8 2 ,737 1054 80 48 925 ,908 ,775 ,170 ,963 19 20 21 22 1 5 3 4 ,091 1 6 6 1 ,176 1 8 0 5 ,925 1 9 2 2 ,109 23 3568 1352 428 1195 577 15 3816 1459 481 1253 604 17 ,279 ,901 ,468 ,553 ,016 ,341 24 25 26 27 28 29 1 0 7 2 0 ,261 5 0 9 2 ,395 6 4 8 ,000 2 6 9 8 ,661 2 1 6 7 ,,525 113,,680 30 31 32 33 34 35 19 20 21 22 Inventories (2) Farm business Nonfarm noncorp. Corporations 23 Consumer durables business (Households) 863 71 38 753 ,542 ,478 ,842 , 222 1397 , 669 853 66 37 749 ,952 ,104 ,701 ,749 , 664 ,734 ,335 ,715 ,060 ,787 ,955 ,818 2 4 L a n d at m a r k e t v a l u e 25 Householdsfinonprofit insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations 2967 1039 441 981 494 10 ,319 ,565 ,245 ,169 ,856 ,484 3165 1161 389 1075 526 11 30 Total real estate Householdsfinonprofit insts. 31 Farm business 32 Nonfarm noncorp. business 33 Nonfarm nonfin. corporations 34 Financial institutions 35 8425 3764 603 2164 1823 68 ,418 ,453 ,482 ,881 ,874 ,728 8 8 8 8 ,274 4 0 6 2 ,,615 551 • 064 2 3 0 5 ,,933 1891,,191 77,,471 (1) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . Data are in m i l l i o n s of dollars. 3396 1281 397 1150 553 13 ,884 ,591 ,242 , 762 ,765 ,524 9592, 8 0 4 4 4 7 4 ,.915 562, 747 2 4 7 9 , 173 1987, 312 8 8 ,,657 ,667 ,765 ,334 ,191 ,342 ,035 1 0 0 3 1 ,037 4 7 2 0 ,507 5 9 2 ,,217 2 5 5 7 ,441 2 0 6 2 ,309 9 8 ,563 April 1990 Households Households 19 S e c t o r B a l a n c e S h e e t with T a n g i b l e Assets at C u r r e n t C o s t Year-End O u t s t a n d i n g s 1945 Year-End Outstandings 1946 1947 1948 H o u s e h o l d s , P e r s o n a l Trusts- 1949 1950 1951 1952 and N o n p r o f i t O r g a n i z a t i o n s 1 140,257 167,369 204,996 235,189 258,429 305, 993 346, 8 4 7 373, 694 T a n g i b l e assets 2 3 4 5 6 7 126,171 73,512 70,169 3,343 6,449 46,210 150,283 88,882 85,075 3,807 8,230 53,171 183,989 108,824 104,520 4,304 10,036 65,129 211 ,224 124-115 119,611 4,504 10-855 76,254 232,427 134 ,570 129,997 4,573 11,291 86,566 2 7 5 , 981 154, 8 3 5 150, 019 4, 8 1 6 12, 957 108, 189 312, 998 173, 777 168, 748 5, 029 14,806 124, 415 337, 106 187, 327 182, 2 5 0 5, 077 15, 790 133, 989 8 9 10 14,086 12,630 1,456 17,086 15,313 1,773 21,007 18,814 2,193 23,965 21,530 2,435 26,002 23,399 2,603 30, 012 2 7 , 003 3, 009 33, 8 4 9 30, 375 3, 474 36, 588 32, 8 0 5 3, 783 11 552,264 587,385 618,053 635,364 653,348 721, 035 780, 978 8 2 4 , 307 T o t a l f i n a n c i a l a s s e t s 12 13 14 15 16 197,139 55,797 50,098 206,409 59,562 56,423 209,654 58,130 59,857 211,404 55,378 62,071 213,198 53,516 64,629 219- 626 55, 977 67, 079 2 2 9 , 199 60, 112 71, 8 9 6 247- 143 62, 130 79, 646 157 156 205 252 328 278 309 370 17 18 19 20 21 91,087 66,428 42,935 26,306 -2,813 90,268 64,963 44,151 23,970 -3,158 91,462 64,870 46,236 21 8 8 7 -3,253 93,703 65,655 47,837 20,921 -3,103 94,725 67,109 49,300 20,898 -3,089 96, 2 9 2 66, 244 49, 5 5 2 19, 765 - 3 , 073 96 ;8 8 2 65- 324 49, 081 18, 915 .672 104- 997 67, 515 49, 173 20- 734 22 23 24 25 3,869 8,605 12,151 34 3,817 7,765 13,658 65 4,458 7,063 14,998 73 4,629 7,111 16,150 158 3,724 6,824 16,863 205 5- 465 6 ,764 17, 531 288 5,,740 6 973 IS 425 420 10, 957 6- 970 19, 089 466 Tax-exempt obligations C o r p o r a t e S fgn. bonds Mortgages O p e n - m a r k e t paper 22 23 24 25 26 27 28 111 ,530 1,264 110,266 103,387 1,297 102-090 101-249 1,412 99,837 100,136 1-515 98,621 109,445 3,070 106,375 133 • 663 3,,344 130 ,319 156 ,293 3 •481 152 ,812 170 ,429 3 ,931 • 166 ,498 Corporate equities M u t u a l fund s h a r e s Other c o r p o r a t e e q u i t i e s 26 27 28 29 30 39,560 12,255 43,360 13,517 46,510 15,770 49,353 18,226 52,104 21,051 55 ,049 24 ,254 57 ,777 27 ,820 60 665 32 •595 Life insurance reserves P e n s i o n fund r e s e r v e s 29 30 31 184 ,835 212,925 236,618 247,604 248,491 2 7 8 ,780 299 ,720 302 ,758 E q u i t y in n o n c o r p . b u s i n e s s 31 32 33 694 6,251 733 7,054 660 7,592 654 7,987 702 8,357 971 8 ,692 893 9 ,276 714 10 -003 S e c u r i t y credit M i s c e l l a n e o u s assets 32 33 34 692,521 754,754 823,049 870,553 911,777 1027 ,028 1127 ,825 35 33,656 37,811 45,974 54,013 62,555 75 ,656 8 4 ,544 96 ,932 T o t a l l i a b i l i t i e s 36 37 38 39 40 41 27,653 18,000 500 34,242 21,607 642 42,588 26,266 831 50,780 30,862 1,130 58,948 35,284 1,515 71 ,179 41 ,998 1 ,978 8 0 -031 48 ,622 2 ,490 92 ,068 54 ,834 2 ,953 2,607 4-167 4-435 5,286 7-092 6,158 9,514 6,805 12,232 7,156 15 ,503 8 -462 16 ,220 9 , 149 2 0 ,470 10 ,073 42 43 301 2,078 264 2,008 191 2,050 287 2, 182 380 2,381 667 2 ,571 785 2 ,765 836 2 ,902 44 45 4,861 504 2, 195 671 1 ,831 771 1 ,547 851 1 ,819 884 2 ,519 951 2 ,393 1 ,034 2 ,569 1 ,133 46 638 703 784 835 904 1 ,007 1 ,086 1 ,162 47 658,865 716,943 777,075 816,540 849,222 951 ,372 1043 ,281 141,141 153,396 177 ,022 199 ,123 21.8% 23.0% 2 3.7% 2 4.4% 19 ,724 40 ,156 1 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 equip. Consumer durables Land O w n e r - o c c u p i ed Nonprofit institutions 2 3 4 5 6 7 8 9 10 11 12 D e p o s i t s 8 cr. m k t . instr. C h e c k a b l e d e p o s i t s 8 curr. 13 14 S m a l l time 8 s a v i n g s dep. 15 M o n e y market fund shares 16 L a r g e time d e p o s i t s Credit market instruments U.S. govt. s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y issues A g e n c y issues 1198 -001 T o t a l a s s e t s Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt I n s t a l l m e n t cons, credit Other c o n s u m e r credit Bank loans n . e . c . O t h e r loans S e c u r i t y credit T r a d e credit D e f e r r e d and unpaid life insurance premiums 1101 ,069 Net w o r t h 17 18 19 20 21 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Memo: 48 49 82-799 21.7% 100,388 123,334 21.5% 21.2% 50 10,901 13,353 15,948 17,087 17,646 51 31,662 35,723 38,154 38,100 37,424 Data are in m i l l i o n s of d o l l a r s . 215 ,055 T o t a l o w n e r - o c c . real estate H o m e m o r t g a g e s as percent of o w n e r - o c c . real estate 25.4% 48 22 ,026 23 ,205 T o t a l n o n p r o f i t real estate 50 41 ,867 I n v e n t o r i e s of n o n d u r a b l e g o o d s . not i n c l u d e d in t o t a l s above 42 ,178 51 49 April 1990 Households 20 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1954 1955 1957 1956 Households, Personal Trusts, and Nonprofit Organizations 1 Tangible assets 397,837 422, 088 460, 526, 747 551, 987 581 ,117 611, 811 1 358-709 199,234 194,135 5,099 16,502 142,973 379- 482 214, 825 209, 632 5- 193 17, 577 147, 080 I | 504, 056 2 3 4 5 6 7 413- 328 236, 374 231, 005 5, 369 19, 639 157, 315 447, 763 253, 796 248, 279 5, 517 22, 090 171, 8 7 7 466- 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 2 3 4 5 6 7 39,128 34,944 4,184 42, 606 37. 734 4, 8 7 2 47, 120 41, 581 5, 539 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 8 9 67, 246 10, 857 10 939, 460 1030, 984 1095, 415 1097, 292 1249, 158 1323, 708 1356, 294 11 326, 770 66, 475 127, 498 343, 825 68 ,632 141, 577 368, 338 71, 559 153, 087 389, 326 12 73, 206 13 164, 835 14 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 261,653 63,229 87,899 273, 024 64, 948 97, 155 291 ,229 65, 891 105, 876 309, 524 67, 592 115, 452 354 309 190 1 1:4 280 426 126, 479 71 f 464 50, 135 22, 375 - 1 ,,046 132, 911 73, 254 48, 226 25, 077 -49 133- 896 69, 8 8 5 47 703 22, 382 -200 144, 118 74- 505 45- 907 26,,868 1 .730 , 151, 303 73, 965 45, 642 27, 289 1 ,034 17 18 19 20 21 ,900 21 • 7,,846 24..059 1 ,210 , 23, 851 8- 494 25,.997 1,,315 ,616 24 , 9 !673 28 ,562 1 ,160 : 28 ,362 10 ,238 30 ,659 354 31, 007 10- 899 33, 426 2.,006 22 23 24 25 373 .311 13 ,241 360 • 070 110,171 68,332 49,371 21,109 -2,148 110, 612 66, 390 49, 966 18, 469 - 2 , 045 15 ,964 6, 162 • 214 21 ! 882 119, 272 69, 623 50, 229 20, 911 - 1 , 517 19,,174 6 !8 7 2 22, 476 li, 127 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 13,873 7,031 20,081 854 26 27 28 Corporate equities Mutual fund shares Other corporate equities 162,414 4,146 158,268 235 ,019 6 ,109 228 ,910 286 ,293 7 ,838 278 ,455 305 ,087 9 ,046 296 ,041 267 ,382 8 ,714 258 ,668 29 30 Life insurance reserves Pension fund reserves 63-647 37,479 6 6 ,349 42 ,654 69 ,254 50 ,546 72 ,724 56 ,590 75 ,462 62 ,678 31 Equity in noncorp. business 310 ,448 321 ,350 338 ,875 708 10,609 1 ,020 10 ,946 899 11 ,413 882 11 ,733 1239,384 1361 ,548 1491 ,432 110,104 122 ,298 104,606 62,458 3,442 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 401 ,991 15 ,818 386 -173 395 ,457 26 17 ,026 27 378 ,431 28 78 ,535 72 ,716 81 .956 8 2 ,410 85 , 184 29 90 ,818 30 352 ,065 367 ,298 375 ,203 381 ,075 31 894 12 ,041 1 ,156 12 ,317 989 12 ,821 1 ,137 32 13 ,297 33 1599 ,471 1624 .039 1801 ,145 1904 ,825 1968 ,105 34 143 ,002 159 ,277 171 ,754 184 ,640 207 ,493 225 ,129 35 115 ,528 71 ,144 4 ,034 135 ,323 83 ,305 4 ,624 151 ,305 94 • 538 5 ,299 163 ,888 103 ,419 6 ,041 175 ,340 112 -880 6 ,824 197 ,787 125 ,685 7 ,602 24,254 10,382 24 ,891 11 ,095 30 ,269 12 ,706 33 ,171 13 ,434 35 ,443 13 ,801 41 ,123 16 ,119 215 -226 36 137 ,348 37 8 ,432 38 39 45 ,051 40 16 ,222 41 940 3,130 989 3 ,375 814 3 ,605 971 3 ,892 829 4 ,355 1 ,290 4 ,821 1 ,825 5 ,433 1 ,921 42 6 ,252 43 3,032 4 ,131 1 ,298 4 ,816 1 ,381 4 ,773 1 ,530 4 ,365 1 ,658 5 ,522 1 ,809 5 ,536 1 ,983 5 ,398 44 2 , 126 45 1 ,341 1 ,482 1 ,669 1 ,843 1 ,969 2 , 187 2 ,379 46 1239 ,250 1348 ,430 1440 ,194 1452 ,285 1616 ,505 1697 ,332 1742 ,976 47 229,079 247,366 272,586 297,935 313,602 330,475 34 9,788 372,909 48 27.2% 28.7% 30.5% 31.74 34.1% 35.9% 36.8% 49 24,129 25,815 28,498 31,917 34,396 36,755 39,293 42,055 50 43,110 43,428 45,148 47,431 48,467 49,031 51,268 53,054 51 1,212 47 Net worth 48 Total owner-occ. real estate Home mortgages as percent of 49 owner—occ. real estate 50 Total nonprofit real estate 51 Inventories of nondurable goods, not included in totals above Data are in millions of dollars. - 1 8 16 2*..9/<, 35 ,339 14 , 186 April 1990 Households Households Sector Year-End Balance Sheet with Tangible Assets at C u r r e n t 21 Cost Outstandings 1961 Year-End 1962 1963 1964 Households, Personal Trusts, 1965 and 1966 Nonprofit 1967 633,> 9 6 3 6 5 9 ,496 6 8 4 ,885 7 2 7 ,082 7 6 6 ,263 8 4 4 ,294 2 3 4 5 6 7 5 5 1 ,749 324,,568 318,,004 6,,564 30,,386 196,,795 5 7 3 ,466 3 3 8 ,117 3 3 0 ,988 7 ,129 33,,032 2 0 2 ,317 595 347 339 7 35 212 632 369 361 8 38 223 666 387 378 9 42 236 724 418 408 10 47 258 8 9 10 8 2 ,,214 69,,961 12,,253 8 6 ,030 72,,817 13 ,213 8 8 ,913 74 ,774 14 ,139 94 ,744 7 9 ,550 15 ,194 9 9 ,567 8 3 ,340 16 , 2 2 7 119 ,663 102 ,103 17 , 5 6 0 125 ,098 107 ,395 17 , 7 0 3 11 1509,,175 1494,,814 1 6 3 3 ,504 1 7 5 8 ,804 1 9 1 4 ,497 1 9 3 7 ,148 2178 ,930 4 3 8 ,497 71 ,227 2 0 8 ,681 4 7 1 ,326 7 5 ,815 2 3 4 ,216 5 0 8 ,573 8 1 ,060 2 5 9 ,762 5 4 9 ,091 8 8 ,533 2 8 7 ,032 5 8 8 ,662 9 0 ,959 3 0 5 ,172 6 3 8 ,147 1 0 0 ,808 3 3 9 ,729 12 13 14 15 16 4 1 0 ,185 71 ,823 182 > 946 17 18 19 20 21 155 73 46 26 ,200 ,267 ,445 ,230 592 157 74 46 27 ,999 ,779 ,968 ,575 236 160 73 48 25 22 23 24 25 32 10 36 2 ,506 ,573 ,662 ,192 32 9 38 2 ,087 ,575 ,766 ,792 32 9 40 4 590 216 1 ,290 ,005 ,996 , 149 ,946 -99 ,094 ,602 ,250 ,063 ,338 ,896 ,593 ,303 ,729 ,713 2 ,003 165 75 49 25 ,748 ,138 ,060 ,833 245 34 9 41 4 ,854 ,098 ,747 ,911 ,696 ,853 ,819 ,034 ,782 ,061 2 ,647 170 77 49 26 1 ,879 ,334 ,695 ,507 ,132 36 ,531 9,,040 4 2 , 186 5 ,788 1968 Organizations 1 ,972 ,397 ,884 ,513 ,774 ,801 Outstandings ,631 ,458 ,411 ,047 ,686 ,487 3 ,620 8 9 9 ,889 774 440 429 10 51 283 ,791 ,261 ,580 ,681 ,320 ,210 4 ,290 1002 ,422 T a n g i b l e 864 492 480 12 57 314 ,190 .374 ,332 ,042 ,599 ,217 138 ,232 120 ,083 18 ,149 8 ,568 1 Land Owner-occupied Nonprofit institutions 2 4 1 1 ,455 T o t a l 6 9 2 ,209 111 ,773 3 6 6 ,313 assets Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables financial assets 2 3 4 5 6 7 8 9 10 11 D e p o s i t s S cr. mkt. instr. Checkable deposits 8 curr. Small time £ savings dep. Money market fund shares L a r g e time d e p o s i t s 12 13 14 15 16 188 86 50 30 5 ,911 ,380 ,249 ,281 ,850 193 86 51 29 6 ,320 ,779 ,219 ,295 ,265 41 10 44 6 ,151 ,362 ,191 ,827 38 14 45 7 ,208 ,619 ,989 ,725 3 6 ,490 19 ,823 48,,448 10,,273 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 205 90 51 32 6 ,555 ,521 ,866 .535 ,120 Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 17 18 19 20 21 26 27 28 5 0 0 ,803 2 2 ,875 4 7 7 ,928 4 3 7 ,092 2 0 ,909 4 1 6 , 183 5 1 3 ,512 2 4 ,818 4 8 8 ,,694 5 6 4 ,137 2 8 ,447 5 3 5 ,,690 634,,903 34,,410 6 0 0 ,,493 5 7 4 ,770 33.,850 5 4 0 ,,920 7 1 9 ,291 4 2 ,972 676,,319 8 5 6 ,,467 4 9 ,,529 8 0 6 ,,938 Corporate equities M u t u a l fund s h a r e s Other corporate equities 26 27 28 29 30 8 8 ,631 103 ,655 9 2 ,398 109 ,638 9 6 ,635 1 2 3 ,201 101,,051 139,,230 105, 8 7 6 155, 4 9 4 110, 5 7 0 165,,127 115,,535 187,,312 120- 3 2 4 2 0 9 ,.055 Life insurance reserves P e n s i o n fund r e s e r v e s 29 30 31 390,,883 4 0 1 ,,662 4 1 2 ,778 4 2 8 ,,434 449, 617 4 7 7 ,.090 4 9 3 ,,854 504, 716 Equity 31 32 33 1 ,192 13 ,826 1,,226 14 ,301 1 ,222 , 14,,830 2, 5 3 3 16- 9 8 3 2, 7 3 0 18, 199 4, 9 4 3 19, 8 4 8 7, 0 3 9 21, 645 34 2 1 4 3 ,138 2 1 5 4 ,,310 2 3 1 8 ,,389 2485, 8 8 6 2680, 760 2781, 442 3078, 8 1 9 3413, 8 7 7 35 2 4 2 ,,999 2 6 4 ,,475 2 9 3 ,,716 323, 267 3 5 4 , 165 377, 983 403, 077 438, 980 Total 36 37 38 39 40 41 2 3 1 ,,497 149,,541 9,,301 2 5 2 ,,811 163, 301 10,,288 279, 709 179, 8 6 4 11,.257 309, 040 197, 3 1 5 12, 2 5 8 338, 733 214, 287 13, 3 9 6 3 6 2 , 142 228, 453 14, 5 6 2 382, 758 240, 744 15, 6 2 6 414, 918 257, 666 16, 7 0 1 4 6 ,,027 17,,434 50, 994 18, 3 6 8 57, 8 2 9 2 0 ,.069 65, 5 7 2 21 ,8 0 8 73,881 23, 628 79, 339 2 4 , 110 8 3 , 148 25, 448 91, 681 27, 675 42 43 2, 2 1 7 6, 9 7 7 2, 116 7, 7 4 4 2, 2 8 3 8 ,4 0 7 2, 9 3 2 9, 155 3, 571 9, 970 3, 7 3 7 11, 9 4 1 4, 530 13, 2 6 2 5,8 8 0 15, 3 1 5 Bank loans n.e.c. Other loans 44 45 6,• 7 3 6 2,,254 6, 6 1 0 2, 3 8 7 8, 567 2, 5 8 7 8, 362 2, 8 2 6 9, 0 9 8 3 , 031 9, 0 2 5 3 , 157 12, 709 3, 6 6 3 15, 627 4 , 133 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 1, 6 6 9 15,• 7 1 0 in noncorp. business Security credit Miscellaneous assets Total 32 33 assets 34 liabilities 35 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit 42 43 44 45 life 46 512 2, 6 6 7 2, 8 5 3 3, 0 3 9 3, 3 0 3 3, 6 5 9 3, 947 4, 302 47 1900, 139 1889, 8 3 5 2024, 673 2 1 6 2 , 619 2326, 595 2403, 459 2675, 742 2974,897 48 387, 965 403,805 414, 658 4 4 1 , 143 4 6 2 , 159 510, 514 5 3 6 , 975 600, 415 49 3 8 .5% 4 0i.4% 43:.3% 44i.7% 46 .3% 44i.7% 44i.8% 42:.9% 50 45,839 49,822 53, 668 58, 217 63, 747 70, 602 74, 639 8 2 , 395 Total 7 9 , 139 I n v e n t o r i e s of n o n d u r a b l e g o o d s , 8 6 , 692 n o t i n c l u d e d in t o t a l s a b o v e Net 36 37 38 39 40 41 46 worth 47 Memo: 51 Data 54, 275 millions 56, 692 of dollars. 58, 990 62, 654 67, 463 73, 918 Total owner-occ. real estate H o m e m o r t g a g e s as p e r c e n t of owner-occ. real estate nonprofit real estate 48 49 50 51 April 1990 Households Households 2 2 Sector Year-End Balance Sheet with Tangible Assets Year-End 1970 1971 Households, Personal Nonprofit 1974 1975 1976 Organizations 1 2 7 8 ,091 14111,761 1 6 1 0 ,,115 1 8 4 6 ,,295 1999,,707 2 2 5 3 ,408 1 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant £ equip. Consumer durables 9 4 6 ,,103 5 3 7 ,.610 5 2 4 ,,443 13, 1 6 7 64,,763 343, 730 1009 ,750 5 6 5 ,594 5 5 1 ,874 13,,720 71 ,722 3 7 2 ,434 1103 629 614 14 80 393 ,707 ,273 ,337 ,936 ,703 ,731 1 2 1 7 ,,683 7 0 4 ,.217 687, 415 16, 8 0 2 88, 782 4 2 4 ,,684 1 3 8 0 ,103 8 1 1 ,,130 7 9 1 ,680 19 ,450 98 4 7 3 470 500 1 5 8 4 ,,521 924. 8 4 7 9 0 2 ,,948 2 1 ,,899 115,• 4 9 5 5 4 4 ,• 179 1719,,067 1002,,482 978,,640 23,,842 120,,886 5 9 5 ,,699 1915 1132 1106 26 129 652 2 3 4 5 6 7 Land Owner-occupied Nonprofit institutions 150,,331 131,,111 19,,220 1 5 7 ,790 1 3 7 ,968 19 ,822 1 7 4 ,384 153 ,584 2 0 ,800 2 3 0 ,012 2 0 5 ,837 24,,175 2 6 1 ,• 7 7 4 2 3 4 ,,766 27,,008 2 8 0 ,,640 2 5 4 ,,446 26,,194 3 3 8 ,077 3 0 9 ,720 2 8 ,357 8 9 10 2 4 0 5 ,,068 2 4 8 7 ,511 2 7 5 1 ,701 3 0 4 9 ,,260 11 738,,225 109,,312 3 8 0 ,,693 7 9 0 ,814 117 ,885 4 1 0 ,738 8 6 1 ,876 1 2 9 ,926 4 7 8 ,497 9 4 5 ,,090 141,,742 547, 627 assets financial assets D e p o s i t s 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 17 18 19 20 21 1973 and 1 1 6 7 ,540 11 T o t a l 12 13 14 15 16 1972 Trusts, Outstandings 1 0 9 6 ,• 4 3 4 1 Tangible 8 9 10 Cost Outstandings 1969 2 3 4 5 6 7 at C u r r e n t 3,,197 245, 023 106,,603 5 1 ,.770 43-• 5 2 8 11,,305 194,• 0 7 8 171,,854 2 2 ,.224 16,,738 ,331 ,835 , 144 ,691 ,743 .753 3 0 8 7 ,727 3 0 8 0 ,,601 3 5 2 3 ,,677 3 9 8 3 ,985 1 0 4 3 ,056 150,,208 5 8 7 , 155 1143,,977 155,,969 624,.385 2, 3 7 9 56, 524 1246,,723 161 ,409 721 ,0 0 8 3, 6 9 6 37,,237 1381 ,476 12 175 ,145 13 8 3 7 ,196 14 3,,686 15 26,,699 16 15 ,282 13 ,647 246 100 52 32 15 ,909 ,794 ,089 ,762 ,943 2 3 9 ,806 9 0 ,789 5 4 •416 2 1 ,748 14,,625 2 3 8 ,,983 88, 336 5 7 ,• 6 6 7 21, 771 8, 8 9 8 2 6 6 ,568 1 0 0 ,328 60,,354 31,,642 8 ,332 39,,125 304, 720 112-• 1 2 8 63,,338 35,• 121 13,• 6 6 9 323,.373 124,,685 67,,363 49,,287 8, 0 3 5 47 33 51 13 ,144 ,827 ,543 ,601 4 5 ,970 4 3 ,225 4 8 ,873 10,,949 4 7 ,• 6 8 4 46, 247 49, 8 2 5 6,• 8 9 1 5 5 ,136 49,,917 4 8 ,838 12,,349 62,• 164 5 8 ,• 5 9 1 5 2 . 138 19, 6 9 9 6 7 .174 6 8 •223 55,,301 7,,990 6 9 ,208 76 ,652 25 5 9 ,696 2 4 1,,723 25 338, 7 5 0 131 •• 4 7 1 72-• 0 1 8 4 8 ,• 3 7 7 11,,076 17 18 19 20 21 22 23 24 25 Tax-exempt obligations C o r p o r a t e 8 fgn. bonds Mortgages Open-market paper 4 7 ,,244 2 4 ,,662 50. 669 15,,845 26 27 28 Corporate equities M u t u a l fund shares Other corporate equities 7 4 4 ,.688 4 5 •577 6 9 9 ,,111 7 2 7 ,152 4 4 ,500 6 8 2 ,652 8 3 0 ,966 5 3 ,006 7 7 7 ,960 9 1 8 ,• 3 6 9 5 6 ,• 3 8 3 8 6 1 ,,986 707,,256 4 3 ,695 6 6 3 ,561 4 9 1 ,• 6 7 6 31, 8 1 2 459, 8 6 4 637,,360 38,,749 5 9 8 ,,611 7 5 4 ,315 2 6 41 ,436 2 7 7 1 2 ,879 2 8 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 125,,362 2 1 9 ,,770 1 3 0 ,703 2 4 0 ,819 1 3 7 ,055 2 7 7 ,895 143,• 9 3 0 3 3 1 ,,312 151 ,278 3 3 7 ,982 158,• 3 9 9 3 4 5 ,,327 166- 4 8 3 4 4 4 ,• 0 5 9 175 ,268 2 9 5 0 7 ,488 30 31 Equity 5 4 8 ,• 0 3 9 5 6 7 ,322 6 1 0 ,372 6 7 4 ,,218 8 0 9 ,,165 900,,529 9 8 4 ,•032 1 1 1 3 ,704 31 32 33 Security credit Miscellaneous assets 5-•221 2 3 ,• 7 6 3 4 ,354 2 6 ,347 4 ,886 28,,651 5,• 0 2 2 31,• 3 1 9 4,,866 34,, 1 2 4 3,,891 36, 8 0 2 4, 4 6 8 .40, 5 5 2 5 ,730 32 4 6 ,004 3 3 3 5 0 1 ,•502 3 6 5 5 ,051 4 0 2 9 ,,792 4 4 6 1 ,• 0 2 1 4697 • 842 in noncorp. 34 Total assets 35 Total liabilities 36 37 38 39 40 41 business Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons, credit Other consumer credit 42 43 Bank loans n.e.c. Other loans 44 45 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 46 4 9 2 6 ,• 8 9 6 5 5 2 3 ,• 3 8 4 6 2 3 7 ,,393 34 4 7 0 ,,266 4 9 2 ,640 5 4 1 ,434 607, 784 680,,419 7 3 0 ,• 7 0 3 7 7 9 ,• 6 2 1 8 7 3 ,,860 35 4 4 8 ,• 6 4 3 276, 225 17,,884 4 7 1 ,753 2 9 0 ,047 19 ,042 5 1 6 ,,911 3 1 4 ,761 20,,251 5 7 7 ,• 6 3 5 3 5 3 ,• 0 2 7 21, 547 101,•161 2 8 ,,280 105 ,528 2 8 ,489 118 • 2 5 5 31 ,478 133,,173 35,• 5 9 6 6 5 3 ,597 3 9 6 ,811 2 2 ,640 400 155,,108 38,,378 703.• 9 7 2 431, 433 23, 736 1,• 3 0 0 164, 5 9 4 37,,885 750, 4 0 8 469, 666 24, 775 2, 7 0 0 168, 7 0 3 38, 8 8 1 8 3 8 ,• 4 4 8 5 2 9 ,,438 25-,623 4 700 188,•698 41,,735 6, 7 9 4 18,,299 7 ,747 2 0 ,900 9 ,893 22,,273 10-• 6 8 4 2 3 ,,608 14 ,086 26,,174 15,• 6 4 0 2 9 ,• 3 8 4 14,• 1 3 9 31,• 5 4 4 14,,868 4 2 33,,386 4 3 12,,225 4,.710 10 ,445 5 ,324 13,,109 5,,978 17, 5 3 7 6,• 6 3 6 13,,193 7,,253 11,• 3 8 7 8, 258 12,• 113 9,• 3 5 6 16 ,511 4 4 10, 5 2 6 4 5 4, 6 8 8 5 ,118 5 ,436 5,• 9 7 6 6,,376 7, 0 8 6 7,• 7 4 4 8 ,375 4 6 3 0 3 1 ,2 3 6 3162:,411 3 4 8 8 ,,358 3853, 237 4017, 423 4 1 9 6 - 193 4 7 4 3 ,• 7 6 3 5 3 6 3 ,•533 4 7 655, 554 6 8 9 ,842 767,,921 859, 269 9 9 7 ,,517 1137, 714 1233, 086 1415, 8 6 4 4 8 42.1% 42.0% 40.9% 41.0% 39.7% 37.9% 38.0% 37.3% 49 91,,380 99 ,109 109,,936 120, 9 5 3 134,,665 155, 4 7 8 161, 1 1 8 174, 3 8 3 5 0 92,,994 96 ,649 100,,890 108, 952 121,,757 134, 613 140, 3 1 7 152, 061 5 1 36 37 38 39 40 41 life 47 Net worth Memo: 48 Total owner-occ. real estate H o m e m o r t g a g e s as p e r c e n t of 49 owner-occ. real estate 50 Total 51 nonprofit real estate I n v e n t o r i e s of n o n d u r a b l e g o o d s , n o t i n c l u d e d in t o t a l s a b o v e Data are in m i l l i o n s of dollars. April 1990 Households Households 23 S e c t o r B a l a n c e Sheet with T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End O u t s t a n d i n g s 1977 Year-End Outstandings 1978 1979 1980 1981 1982 1983 1984 H o u s e h o l d s , P e r s o n a l T r u s t s , and N o n p r o f i t O r g a n i z a t i o n s 1 2614, 292 3077, 067 3505, 641 3874,,877 4257,,978 4268, 701 4614, 5 1 0 4894,• 5 5 3 T a n g i b l e a s s e t s 2 3 4 5 6 7 2 1 9 4 , 043 1326, 945 1296, 125 30, 8 2 0 141 •601 725, 4 9 7 2551, 222 1563. 035 1527, 137 35, 8 9 8 167, 725 820, 462 2 8 7 6 , 087 1775, 3 7 2 1734, 013 41, 359 175, 421 925, 2 9 4 3163, 164 1949, 347 1902, 8 6 0 46, 4 8 7 193, 8 4 8 1019, 969 3421, 915 2113, 007 2062, 051 50, 956 212, 434 1096, 474 3427,,487 2068, 026 2017, 467 50,,559 217, 772 1141,,689 3681, 087 2240,,810 2187, 5 4 7 53,,263 233 395 1206, 8 8 2 3905,,225 2372,,946 2316, 2 9 7 56,• 649 246,• 302 1285, 977 8 9 10 420, 249 388, 8 3 7 31, 412 525, 845 488, 684 37, 161 629, 5 5 4 589, 564 39, 990 711,,713 666, 001 45, 712 836, 063 783, 579 52,.484 841, 214 786,,812 54,,402 11 4320, 406 4859, 518 5 6 1 7 ; 201 6540, 8 6 8 7029,,820 7562, 5 9 7 8318:,341 8 8 4 7 ,,664 Total f i n a n c i a l a s s e t s 12 13 14 15 16 1537 ,5 4 8 192, 181 932 ,686 3..443 34 , 4 5 0 1712, 318 216, 8 4 9 998, 397 9,• 4 3 6 64,•898 1930, 009 249, 744 1058, 176 40, 032 72,.496 2123, 550 260,,273 1140, 680 64 ,878 111 ,935 2353, 031 293, 389 1188,. 185 155,,620 125,,986 2578,,168 314 ,468 1322,,485 189 ,439 100,,761 2864:,537 339:,610 1532:,562 158:,350 78:,808 3269 974 357,• 5 2 8 1685:• 706 202:,399 141:,926 17 18 19 20 21 374 ,788 146 ,835 76 ,762 59 • 438 10 ,635 422 172 80 72 19 , 738 ,898 ,691 ,850 ,357 509,,561 233 ,456 79 ,876 117 ,518 36 ,062 22 23 24 25 65 ,895 8 0 ,077 66 ,554 15 ,447 69 73 75 30 ,661 ,835 ,957 ,387 26 27 28 708 ,824 40 ,354 668 ,470 704 ,952 41 ,079 663 ,873 8 5 6 ,953 44 ,797 8 1 2 , 156 1163 ,384 52 ,059 1111 ,325 1103 ,870 52 ,639 1051 ,231 1239 ,933 66 ,696 1173 ,237 1420 ,859 97 ,967 1322:,892 29 30 184 ,802 560 ,329 195 ,992 661 ,515 206 ,692 767 ,072 216 ,427 916 ,065 225 ,627 996 ,943 2 3 2 ,799 1179 ,221 31 1270 ,221 1516 ,676 1779 ,388 2 0 3 2 ,832 2257 ,114 32 33 5 ,739 52 ,943 8 ,521 59 ,544 10 ,354 6 6 ,733 16 ,236 72 ,374 14 ,729 78 ,506 34 6934 ,698 7936 ,585 9 1 2 2 ,842 10415 ,745 11287 ,798 35 1014 ,303 1182 ,930 1358 ,213 1488 ,745 1610 ,797 1693,,566 1873,,088 2101,,537 T o t a l l i a b i l i t i e s 1138 ,333 727 ,675 2 8 ,056 10 ,700 2 6 4 ,712 47 ,570 1310 ,391 8 4 6 ,880 29 ,559 13 ,600 300 ,313 5 2 ,448 1430 942 31 16 302 53 1548.,787 1020 • 313 33 ,781 21 ,100 315, 547 56, 749 1625: 521 1059,,685 36, 428 29, 600 330, 373 58, 315 1791,,628 1156,• 047 38,• 917 41,• 000 374 • 4 7 8 63,• 174 2018: 156 1290,,132 41,,368 51 •171 449, 4 8 9 69,,811 36 37 38 39 40 41 974 619 26 8 223 43 ,474 , 185 ,730 ,100 ,669 ,483 77 71 89 37 ,384 ,468 ,426 ,827 933,• 423 875, 019 58, 4 0 4 989,• 328 926,• 5 1 9 62,• 8 0 9 545 265 72 148 45 ,784 ,990 ,528 ,017 ,445 589 287 68 172 47 ,851 ,915 , 190 ,653 ,072 651 332 68 220 43 ,015 ,402 ,346 ,564 492 755 401 71 285 44 ,207 ,482 ,485 ,671 ,326 882:,415 501:,332 74:,515 350:,444 76:,373 78 53 106 41 ,161 ,239 ,981 ,413 99 53 117 31 ,651 ,829 ,346 ,110 127 46 126 18 ,979 ,349 ,082 ,203 155 37 127 34 ,100 ,235 ,073 ,317 181 ,139 33:,056 128:,160 38 ,728 ,156 ,376 ,486 ,700 ,062 ,329 Reproducible assets Residential structures O w n e r - o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions D e p o s i t s & cr. m k t . instr. C h e c k a b l e d e p o s i t s 8 curr. S m a l l time 8 s a v i n g s dep. M o n e y market fund s h a r e s L a r g e time d e p o s i t s C r e d i t market i n s t r u m e n t s U.S. govt. s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y i s s u e s Agency issues 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Tax-exempt obligations C o r p o r a t e 8 fgn. bonds Mortgages O p e n - m a r k e t paper 22 23 24 25 1440 • 531 117:,685 1322 ,846 Corporate equities M u t u a l fund shares Other c o r p o r a t e e q u i t i e s 26 27 28 2 4 0 792 1392,,083 245 994 ,983 1531 : Life i n s u r a n c e r e s e r v e s P e n s i o n fund r e s e r v e s 29 30 2 2 2 9 ,342 2 2 7 8 ,938 2235:,069 E q u i t y in n o n c o r p . b u s i n e s s 31 17:,838 85,,296 2 0 ,557 100:,575 21:,573 102:,540 S e c u r i t y credit M i s c e l l a n e o u s assets 32 33 11831,,298 12932:•851 13742: 2 1 7 Total a s s e t s 42 43 17 ,591 35 ,716 2 0 ,096 39 ,524 21 ,673 45 ,918 29 ,469 54 ,734 35,,507 65,,790 37, 8 8 2 73, 2 3 8 41 ,• 503 76, 509 36,,742 79,,443 44 45 18 ,861 11 ,684 21 ,047 13 ,201 21 ,254 14 ,876 2 8 ,492 17 , 158 27,,465 19,,823 30, 310 22,,220 39,,741 25,,620 37,,336 30,,937 46 9 ,284 10 ,349 11 ,692 12 ,939 14,,722 15,,515 16,,099 15,,108 47 5 9 2 0 ,395 6753 ,655 7764 ,629 8 9 2 7 ,000 9677,,001 10137,,732 11059,• 763 48 1684 ,962 2 0 1 5 ,821 2 3 2 3 ,577 2 5 6 8 ,861 2845 ,630 2804,,279 3062,,566 49 36.7% 36.0% 36.4% 36.6% 35.8% 37.7% 37.7% 50 192 i ,623 2 2 8 ,656 243:,399 2 7 0 ,633 2 9 8 ,268 303, 158 Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt I n s t a l l m e n t cons. credit O t h e r consumer credit Bank l o a n s n.e.c. O t h e r loans S e c u r i t y credit T r a d e credit D e f e r r e d and unpaid life insurance premiums 11640,• 6 8 0 Net w o r t h 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Memo: 51 164,,441 182 ,465 202,,314 Data are in m i l l i o n s of d o l l a r s . 2 1 8 ,426 235,,405 246,,446 3242,• 8 1 6 Total o w n e r - o c c . real e s t a t e H o m e m o r t g a g e s as percent of o w n e r - o c c . real estate 39.7% 49 48 323, 662 342, 5 0 8 T o t a l n o n p r o f i t real estate 50 263, 379 I n v e n t o r i e s of n o n d u r a b l e g o o d s . not included in t o t a l s above 284, 348 51 A p r i l 1990 Households 2 4 Households S e c t o r B a l a n c e S h e e t with T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings __ 1985 1986 1987 1988 ^r-End Outstandings 1989 H o u s e h o l d s , P e r s o n a l T r u s t s , and N o n p r o f i t O r g a n i z a t i o n s 1 Tangible assets 2 3 4 5 6 7 8 9 10 17 18 19 20 21 5624, 8 1 3 6166, 8 8 9 6560, 104 7050, 8 1 1 1 5 5 9 0 , 910 3358, 5 5 0 3285, 687 72, 8 6 3 310, 251 1922,• 109 2 3 4 5 6 7 Reproducible assets Residential structures O w n e i — o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 equip. Consumer durables 4147, 8 6 6 2495, 8 4 4 2436, 413 59, 431 254, 353 1397,, 669 4463, 098 2664, 8 0 5 2603, 104 61, 701 264,• 2 0 2 1534, 091 4885, 2 9 8 2944, 968 2877, 8 6 9 67, 099 279,. 154 1661 , 176 5 2 0 7 , 339 3110, 710 3042, 073 68, 637 290, 704 1805, 925 Land Owner-occupied Nonprofit institutions 1039, 565 974,.565 65,,000 1161, 715 1093, 304 68, 411 1281, 591 1208, 705 72, 8 8 6 1352, 765 1277, 671 75, 094 1459, 901 1379, 989 79, 912 8 9 10 9907, 5 5 2 10836, 017 11 T o t a l f i n a n c i a l assets 12 13 14 15 16 5 1 8 7 , 431 D e p o s i t s 8 cr. mkt. i n s t r . C h e c k a b l e d e p o s i t s 8 curr. S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund shares L a r g e time d e p o s i t s C r e d i t market i n s t r u m e n t s U.S. govt. s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y issues A g e n c y issues 11404, 051 12338, 656 13690, 598 11 3593, 724 378,,521 1829 571 214 .510 119,.490 3851, 2 3 4 467,. 152 1945, 722 247, 501 94,,465 4152,,861 487, 4 4 6 2005, 239 268,,891 114,,055 4561, 445 490, 5 3 2 2137, 580 286, 981 151, 239 5000,,012 516, 375 2232,,798 365, 821 161 ,631 12 13 14 15 16 1051 .632 581,• 232 79 ,777 403,,502 97,,953 1096, 394 625,•637 93,,332 406- 112 126 193 1277, 2 3 0 715,,919 • 103 101 , 420, 725 194, 091 1495 113 798, 767 109, 556 470- 8 3 9 218, 372 1723, 387 936, 396 117,•725 504 ,2 6 5 314,,406 17 18 19 20 21 298,• 101 134,,557 187,,797 166,,536 22 23 24 25 22 23 24 25 Tax-exempt obligations C o r p o r a t e & fgn. bonds Mortgages O p e n - m a r k e t paper 2 1 9 ,212 37 ,977 127 ,504 85,,707 195, 674 77, 8 1 8 113, 731 83,,534 2 3 8 •207 102,,191 114,,909 106,,004 281 ,981 93,.862 176, 612 143, 891 26 27 28 Corporate equities M u t u a l fund shares Other corporate equities 1887 ,744 203 ,030 1684 ,714 2206, 124 356,,921 1849,,203 2124, 976 406 ,244 1718 ,732 2224,,902 415 ,928 1808 ,974 2 5 4 2 ,990 456,,130 2086 ,860 26 27 28 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 256 ,711 1801 ,615 2 7 4 ,226 2057,,637 300 ,272 2 2 4 7 ,912 325,,536 2558,,587 ,403 351 , 2 9 1 4 , 149 29 30 31 E q u i t y in n o n c o r p . b u s i n e s s 2 1 9 9 ,755 2237,,471 2 3 5 2 ,512 2410,,684 2577 ,542 31 32 33 S e c u r i t y credit M i s c e l l a n e o u s assets 35 ,051 132 ,952 44 , ,015 165 ,310 44 ,604 212,,898 50 ,000 2 5 4 -502 32 33 15094 ,983 16460,,830 17570 ,940 18898 ,760 20741,,409 34 2 7 0 7 ,055 2 9 6 9 ,620 3264,,465 3548 ,809 35 2591 1667 46 79 581 78 2864 1907 48 78 618 74 3151 2138 50 79 671 72 3423 2339 52 80 729 68 ,245 ,136 ,898 ,712 ,322 ,529 36 37 38 39 40 41 34 Total a s s e t s 35 Total l i a b i l i t i e s 36 37 38 39 40 41 42 43 44 45 46 Credit market instruments Home mortgages Other m o r t g a g e s T a x - e x e m p t debt I n s t a l l m e n t cons. credit O t h e r c o n s u m e r credit Bank loans n . e . c . O t h e r loans S e c u r i t y credit Trade credit D e f e r r e d and unpaid life insurance premiums 4 7 Net w o r t h 2 4 0 0 , 942 2295 1440 43 81 526 75 ,476 ,606 ,770 ,334 ,470 ,332 ,761 ,304 ,124 ,142 ,459 ,301 38 , 121 187 ,397 ,477 ,791 ,430 ,178 ,191 ,473 ,711 ,505 ,688 ,049 ,362 ,368 43 ,686 8 4 ,278 5 0 ,005 8 9 ,426 45 ,025 92 ,389 42 ,027 97 ,712 52 ,030 100 ,618 42 43 56 ,779 33 • 4 7 8 64 ,979 36 ,430 5 0 ,385 39 ,665 53 ,501 43 ,803 60 ,958 48 ,799 44 45 15 ,209 13 ,885 15 ,093 15 ,450 15 ,807 46 12694 ,041 13753 ,775 14601 ,320 15634 ,295 17192 ,600 47 3410 .978 3696 ,408 4 0 8 6 ,574 4319 ,744 4 6 6 5 ,676 48 42.2% 45.1% 46.6% 49.5% 50.1% 49 353 ,475 366 ,207 388 ,341 4 0 0 ,763 4 2 6 ,719 50 304 ,362 324 ,958 351 ,294 372 ,818 388 ,871 51 Memo: 48 T o t a l o w n e r - o c c . real estate Home m o r t g a g e s as percent of o w n e r - o c c . real estate 49 5 0 Total n o n p r o f i t real estate 51 I n v e n t o r i e s of n o n d u r a b l e goods? not i n c l u d e d in totals above Data are in m i l l i o n s of d o l l a r s . April 1990 Farm S N o n c o r p o r a t e B u s i n e s s Farm 8 N o n c o r p o r a t e B u s i n e s s 25 Sector B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End O u t s t a n d i n g s 1945 Year-End Outstandings 1946 1947 1948 1949 1950 1951 1952 Farm B u s i n e s s 1 78 ,589 92 ,887 100 ,571 103,332 122 ,739 136 ,402 136,859 2 3 4 5 32 ,575 11 ,393 7 ,037 14 , 145 41 ,800 13 ,158 9 ,003 19 ,639 48 ,147 15 ,191 11 ,918 21 ,038 50,106 16,266 14,536 19,304 49 ,967 16 ,841 16 • 4 6 2 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 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 3 4 5 Land 6 101 ,394 6 46 ,014 51 ,087 5 2 ,424 53,226 51 ,427 63 ,341 71 ,200 71,681 7 5 ,328 7 ,185 8 ,369 8,459 8 ,035 8 ,068 8 ,327 8,314 8 9 10 11 4 ,600 728 548 180 6 ,400 785 645 140 7 ,500 869 753 116 7,500 959 844 115 7 ,000 1 ,035 918 117 7 ,000 1 ,068 949 119 7 ,200 1 ,127 ,005 122 7,100 1,214 1,088 126 12 8 3 ,917 100 ,072 108 ,940 111,791 109 ,429 130 ,807 144 ,729 145,173 13 7 ,179 7 ,599 8 ,297 9,294 9 ,880 11 ,221 12 ,944 13,879 14 15 16 17 18 19 6 ,593 4 ,760 1 ,037 796 464 332 6 ,956 4 ,897 1 ,292 767 391 376 7 ,424 5 ,064 1 ,593 767 283 484 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 20 586 643 873 1,212 1 ,406 1 ,689 2 , 125 2,270 21 22 23 76 ,738 5 ,372 71 ,366 92 ,473 6 • 473 8 6 ,000 100 .643 7 ,045 93 ,598 102,497 7,175 95,322 99 ,549 6 ,968 92 ,581 119 ,586 8 ,371 111 ,215 131 ,785 9 ,225 122 ,560 131,294 9,191 122,103 24 60 ,526 68 ,700 73 ,472 76,032 75 ,075 8 8 ,949 98 ,687 100,009 7 C h e c k a b l e dep. 8 c u r r e n c y M i s c e l l a n e o u s assets Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s 8 9 10 11 12 13 Credit m a r k e t i n s t r u m e n t s Mortgages Bank loans n . e . c . Other loans U.S. g o v e r n m e n t F e d . Inter. C r e d i t B a n k s 14 15 16 17 18 19 Trade debt C o r p o r a t e farms N o n c o r p o r a t e farms 21 22 23 Nonfarm Noncorporate Business 1 106 ,218 121 ,767 138 ,660 149,067 152 ,572 165, 4 2 0 175,.759 179,962 2 3 4 5 69 ,610 48 ,088 14 ,609 6 ,913 8 2 ,222 54 ,867 18 ,466 8 ,889 95 ,827 62 ,581 22 • 8 8 4 10 ,362 103,798 66,072 25,727 11,999 1051>296 67 •4 6 7 26 796 11,,033 115, 297 71, 745 30, 090 13, 462 122, 778 75, 397 33- 166 14, 2 1 5 124,640 76,636 34,122 13,882 6 36 ,608 39 ,545 4 2 ,833 45,269 47, 276 50, 123 52, 981 55,322 7 15 ,892 17 ,201 18 ,302 18,660 19, 424 21, 197 21, 595 2 2 , 6 8 9 Total f i n a n c i a l a s s e t s 8 9 ,726 9 ,737 10 ,101 9,949 10, 315 10, 538 10, 777 10,429 10 11 850 1 ,003 1 ,267 1,574 1, 8 1 1 2, 175 2, 300 2,674 13 4 ,548 5 ,553 5 ,864 5,934 5, 995 7, 091 6, 974 7,838 14 15 16 17 768 763 5 908 902 6 1 .070 1,,060 10 1,203 1,190 13 1, 303 1, 289 14 1, 393 1, 378 15 1, 544 1, 5 2 7 17 1 ,748 1,730 18 18 122 ,110 138 , 968 156,,962 - - " - - 167,727 - - 171 =996 186, 617 197, 354 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 3 4 5 Land 6 C h e c k a b l e dep. 8 c u r r e n c y Time deposits U.S. g o v e r n m e n t s e c u r i t i e s C o n s u m e r credit Mortgages T r a d e credit M i s c e l l a n e o u s assets Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s Other 202,651 19 8,,641 12 < • 043 13, 942 15,445 16, 086 19, 052 20, 194 2 11,996 ,996 Total liabilities 20 21 22 23 24 6, 097 3, 8 2 8 291 2, 841 696 8, 351 4, 4 8 6 659 3, 016 811 9r 5 6 0 5, 070 872 3, 2 7 5 923 10,335 5,810 1,093 3-713 1,004 10, 8 3 6 6, 361 1, 031 4, 2 9 7 1, 033 12- 792 7, 511 1, 4 2 8 5, 034 It 049 14, 117 8 , 167 1 •364 5, 705 1, 098 15,452 8,857 1,587 6,128 1,142 25 26 325 1, 944 965 2, 900 1, 322 3, 168 1,066 3,459 833 3, 642 1, 2 7 8 4, 003 1, 5 0 8 4, 4 4 2 1,721 4,874 Bank loans n.e.c. Other loans 27 28 2, 544 5,110 5, 2 5 0 6, 2 6 0 6, 077 6,544 Other taxes payable T r a d e debt 29 - - - - 3, 6 9 2 4, 3 8 2 - - 30 113, 4 6 9 126- 925 143, 020 31 93,779 105,853 119,026 Data are in m i l l i o n s of d o l l a r s . - 152,282 - 155, 910 - 167, 565 - 177, 160 7 8 9 10 11 - Credit m a r k e t i n s t r u m e n t s Mortgages Home mortgages Multi family C o m m e r c i al 20 21 27 28 Miscellaneous liabilities 180,655 149,376 T o t a l n o n c o r p . b u s . r e a l estate 31 April 1990 Farm 8 Noncorporate Business 26 Farm Sector Year-End Balance Sheets with Tangible Assets at C u r r e n t Outstandings Year-End 1955 1956 Farm 1 Tangible S Noncorporate assets 1 3 4 ,811 137 , 7 3 2 1 4 2 ,431 1957 958 1959 Outstandings 1960 Business 1 5 0 ,569 175 ,951 178 ,627 1 64 19 23 22 6 Land 7 0 ,295 7 3 ,520 7 8 ,082 8 5 ,008 91 ,481 1 0 0 ,436 106 ,982 8 ,291 8 ,264 8 ,372 8 ,251 8 ,218 8 ,584 7 ,982 7,, 64 6 7 ,000 1 ,291 1 , 159 132 6 ,900 1 ,364 1 ,227 137 6 ,900 1 • 472 1.,324 148 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 8 9 10 11 158 ,820 166 ,880 177,,924 183 ,933 186,,273 12 7 Total 8 9 10 11 financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 12 T o t a l assets 13 T o t a l liabilities 143 ,102 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 145 ,996 64 19 24 19 150,,803 67 19 26 21 , 181 ,610 ,371 ,200 68 19 26 22 ,904 ,437 .867 ,600 68 19 27 22 ,969 ,382 ,487 ,100 70 19 27 23 ,125 ,235 ,590 ,300 108 ,502 2 3 4 5 6 7 13,,562 14 • 4 3 5 16-• 0 5 8 16,,982 18 ,274 2 0 ,,078 22,,433 23-,623 13 11 • 5 0 9 7 737 2,• 7 1 2 1,.060 445 615 12 8 2 1 13,-723 9,• 0 2 2 3, 4 3 4 1,,267 574 693 14,.581 9, 8 3 5 3, 3 7 5 1, 371 624 747 15 6 3 8 10, 3 9 7 3. 7 5 9 1, 4 8 2 550 932 17-.002 11, 109 4, 1 7 2 1 -721 , 565 1, 1 5 6 18,,934 12, 101 4 ,866 1, 9 6 7 577 1,,390 19,,965 12, 8 3 8 5, 0 6 2 2, 065 564 1,• 501 14 15 16 17 18 19 2, 3 3 5 2, 4 0 1 2,,636 3, 0 7 6 3, 4 9 9 2- 0 5 3 21 N e t w o r t h 22 Corporate farms 23 Noncorporate farms ,212 ,342 ,670 ,200 ,561 ,759 ,902 ,900 169 , 3 4 0 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 64 19 23 21 65 19 25 19 158 ,662 2 3 4 5 ,516 , 151 ,365 ,000 ,349 ,639 ,810 ,900 Business Cost ,281 ,246 ,862 • 173 508 665 2,, 154 3,,658 2 0 129, 5 4 0 9, 0 6 8 120,, 4 72 131, 5 6 1 9 • , 209 122,,352 134, 7 4 5 9« 4 3 2 125,• 3 1 3 141 ,8 3 8 9, 9 2 9 131. 9 0 9 148, 6 0 6 10, 4 0 2 138,,204 157, 8 4 6 11 ,0 4 9 146, 7 9 7 161 ,• 5 0 0 11,•305 150, 195 162,,650 21 11-,385 2 2 151 ,,265 2 3 98, 8 7 1 102, 5 4 0 108, 171 116, 116 122, 7 0 8 131, 5 2 9 138, 3 6 0 139, 9 0 2 2 4 Memo: 24 Total farm real estate Nonfarm assets 1 8 4 ,512 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 13 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 14 15 16 17 Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 18 T o t a l assets 19 T o t a l liabilities 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial 25 26 Bank loans n.e.c. Other loans 27 28 Other Trade 29 Miscellaneous 30 Net taxes debt 126 77 35 14 ,723 ,081 ,264 ,378 189 , 9 8 0 129 78 36 14 , 181 ,479 ,426 ,276 Business 2 0 0 ,657 211 ,872 2 1 9 ,296 2 2 5 ,664 233 • 370 2 4 0 ,944 1 136 81 40 15 143 ,112 8 2 ,643 44,579 15 , 8 9 0 146 83 46 16 149 84 48 16 153 86 50 16 156 88 51 16 ,363 ,475 ,270 ,618 2 3 4 5 ,513 ,055 ,303 ,155 ,705 ,342 ,993 ,370 ,568 ,562 , 120 ,886 ,684 ,705 ,098 ,881 5 7 ,789 6 0 ,799 64 ,144 68 ,760 7 2 ,591 76 ,096 79 ,686 8 4 ,581 6 2 3 ,350 2 4 ,018 2 4 ,300 2 6 ,079 26 ,427 2 8 ,837 2 7 ,268 2 7 ,211 7 10 ,377 10 ,907 11,,200 11 ,549 12 ,356 13 ,641 12 ,707 12 ,415 2,,802 2 ,804 2,,910 3 ,066 3 ,107 3 ,110 3 ,431 8,,233 8 ,174 7,,907 9 ,051 8 ,378 9 ,377 8 ,234 8 9 10 3 • 2 0 7 11 12 8 ,554 13 1 ,9 3 8 1 ,9 1 9 19 2,,133 2,,113 20 2,,283 2,,262 21 2 413 2 ,392 21 2 586 2 ,560 26 2,,709 2,,677 32 2 ,896 2 ,856 40 3 ,035 2,,987 48 2 5 4 ,,501 2 6 0 ,638 - - - - " 2 1 3 ,,998 2 2 4 ,,957 2 3 7 ,951 2 3 ,,297 25,,902 28, 9 2 0 3 0 ,985 31,,862 34,,000 35 ,630 38,,345 19 16, 0 2 8 9,-207 1 ,5 4 7 6, 4 5 1 1.,209 17 0 2 5 9,,923 1,,872 6 ,726 1,,325 18,.860 10,,628 2,,016 7,,142 1,,470 19 ,997 10 ,865 1,,788 7 ,432 1,,645 2 0 ,875 11,,146 1,,671 7,,660 1,,815 2 2 ,,374 12,,276 1,,823 8 ,,422 2, 031 24,,880 13, 5 3 4 1 ,938 , 9,,335 2, 2 6 1 27,• 117 14 ,4 4 3 1, 7 0 S 10, 2 4 5 2, 4 9 5 20 21 22 23 24 1,,782 5, 0 3 9 1,,866 5,,236 2,.388 5, 8 4 4 2,,993 6, 139 3,,078 6, 6 5 1 3, 2 3 9 6, 8 5 9 3- 6 3 2 7, 7 1 4 3, 969 2 5 8 , 705 2 6 7,,269 8, 10, 0 6 0 10,,988 10, 9 8 7 11 ,6 2 6 10,,750 27 11, 2 2 8 2 8 2 4 5 ,723 payable liabilities worth 14 15 16 17 2 0 7 ,,862 " CO 1 Tangible 2 3 4 5 Noncorporate - - - - - - 2 6 8 , 155 18 - 29 184 =5 6 5 188, 0 9 6 196, 0 3 7 206, 966 2 1 3 ,,861 220, 501 225, 008 229, 810 30 152, 5 5 9 157, 5 5 6 165, 4 3 9 173, 9 4 5 179,,663 185, 2 1 7 192, 0 7 2 199, 5 6 6 31 Memo: 31 T o t a l noncorp. Data in m i l l i o n s are bus.real of estate dollars. A p r i l 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 27 S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings Year-End O u t s t a n d i n g s 1961 1962 1963 1964 1965 1966 1967 1968 Farm Business 1 185 ,099 191 ,469 2 0 0 ,695 2 0 9 ,693 2 2 6 ,082 2 3 7 ,206 2 3 4 5 70 ,946 19 ,186 2 7 ,960 23 ,800 73 ,044 19 ,091 2 8 ,753 2 5 ,200 74 ,381 18 ,795 2 9 ,886 2 5 ,700 74 ,736 19 ,129 31 ,107 2 4 ,500 8 0 ,492 19 ,179 33 ,313 2 8 ,000 8 3 ,516 2 0 ,011 36 ,105 2 7 ,400 6 114 ,153 118 ,425 126 ,314 134 ,957 145 ,590 153 ,690 163 ,219 7 7 ,731 7 ,865 7 ,825 8 ,217 8 ,497 8 ,704 9 ,067 9 ,646 Total f i n a n c i a l a s s e t s 8 9 10 11 5 ,800 1 ,931 1 ,704 227 5 ,900 1 ,965 1 ,724 241 5 ,700 2 ,125 1 ,869 256 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 12 192 ,830 199 ,334 2 0 8 ,520 2 1 7 ,910 2 3 4 ,579 2 4 5 ,910 259 ,303 13 25 ,322 27 ,626 31 ,038 33 ,827 37 ,674 41 ,274 4 4 ,377 46 ,170 T o t a l l i a b i l i t i e s 13 14 15 16 17 18 19 21 ,558 13 ,917 5 ,305 2 ,336 686 1 ,650 23 ,856 15 ,193 6 ,087 2 ,576 736 1 ,840 26 4 0 6 16 ,822 6 ,688 2 ,896 797 2 ,099 29 ,009 18 ,942 6 ,959 3 ,108 861 2 ,247 32 ,311 21 ,187 7 ,667 3 ,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 41 ,583 2 7 ,177 9 ,718 4 ,688 1 ,034 3 ,654 Credit market instruments Mortgages Bank loans n . e . c . O t h e r loans U.S. g o v e r n m e n t F e d . Inter. C r e d i t B a n k s 14 15 16 17 18 19 20 3 ,764 3 ,770 4 ,632 4 ,818 5 ,363 5 ,770 5 ,562 4 ,587 T r a d e debt 20 21 22 23 167 ,508 11 ,726 155 ,782 171 ,708 12 ,020 159 ,688 177 ,482 12 ,424 165 ,058 184 ,083 12 ,886 171 ,197 196 ,905 13 ,783 183 ,122 2 0 4 ,636 14 ,325 190 ,311 214 ,926 15 ,045 199 ,881 205 ,657 Net w o r t h 14 ,396 C o r p o r a t e farms 191 ,261 N o n c o r p o r a t e farms 24 145 ,962 150 ,720 158 ,917 168 ,478 180 ,056 190 ,150 201 ,099 190 ,450 Total farm real e s t a t e 2 5 0 ,236 8 7 ,017 20 • 5 1 7 38 ,600 27 ,900 2 4 2 ,181 T a n g i b l e a s s e t s 93 ,008 2 2 ,070 41 ,838 29 ,100 149 ,173 1 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 2 3 4 5 Land 6 C h e c k a b l e dep. 8 c u r r e n c y Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s 251 ,827 Total a s s e t s 7 8 9 10 11 12 21 22 23 Memo: 24 Nonfarm Noncorporate Business 1 247 ,608 2 5 7 ,071 2 6 5 ,377 2 7 9 ,761 2 9 4 ,810 319 ,046 332,,654 361 ,384 T a n g i b l e a s s e t s 1 2 3 4 5 159 ,364 91 ,048 5 2 ,717 15 ,599 165 -313 94 ,537 54 ,996 15 ,780 170 ,112 97 ,334 5 7 ,649 15 ,129 180 104 61 15 191 ,359 109,,329 66,• 192 15:,838 207,,152 118,,118 72,,705 16,,329 218,,508 123,,952 77,,454 17, 102 2 4 2 ,380 139 ,706 8 5 ,050 17,,624 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 2 3 4 5 6 8 8 ,244 91 ,758 95 ,265 99,,483 103,,451 111, 8 9 4 114, 146 119,,004 Land 6 7 2 7 ,755 2 7 ,624 27 ,579 28,,205 28, 5 7 2 29, 4 4 2 30, 359 29, 654 Total f i n a n c i a l a s s e t s 8 9 10 11 12 13 12 ,515 12 ,515 12 ,515 12,,515 12, 515 12, 5 1 5 12, 5 1 5 12,,515 3 ,135 3,,318 3 ,558 3, 785 4, 044 3, 994 100 3, 8 7 8 300 3, 8 5 8 8 ,904 8 ,462 7 ,961 81 106 7, 930 8 , 491 9, 022 7, 655 14 15 16 17 3 ,201 3,,144 57 3,, 329 3, 2 6 0 69 3:,545 ,463 3• 82 3, 799 3,.704 95 4, 083 3, 975 108 4, 4 4 2 4, 325 117 4, 8 4 4 4, 716 128 5, 326 5, 187 139 18 275,.363 284, 695 2 9 2 956 307, 966 323, 382 348, 4 8 8 363, 013 ,278 ,041 ,148 ,089 - 7 C h e c k a b l e dep. 8 c u r r e n c y Time deposits U.S. g o v e r n m e n t s e c u r i t i e s C o n s u m e r credit Mortgages T r a d e credit 8 9 10 11 12 13 Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 14 15 16 17 391, 038 Total a s s e t s 18 19 40, 2 6 2 42, 721 45, 2 3 6 50, 729 56, 8 8 7 61, 709 69, 040 77, 5 8 3 Total l i a b i l i t i e s 19 20 21 22 23 24 2 9 , 643 16- 4 1 3 1, 8 2 1 11, 785 2 ,8 0 7 32, 672 18, 772 2 , 001 13, 5 8 5 3, 186 37, 004 21, 424 2 , 002 15, 8 2 5 3, 5 9 7 43, 234 25,877 1, 902 19, 095 4,880 50, 257 30, 750 1, 997 21,846 6, 9 0 7 56, 623 34, 761 1, 5 9 8 2 4 , 245 8 , 918 63, 8 5 7 40,883 2, 102 2 7 , 045 11, 736 73, 4 0 4 47, 8 3 3 2, 2 2 4 29- 4 4 9 16, 160 20 21 22 23 24 25 26 4 , 345 8 ,885 4 , 716 9, 184 5, 308 10, 2 7 2 5,806 11, 551 6, 708 12, 799 8 , 079 13, 783 8 , 784 14, 190 9, 8 6 6 15, 705 Bank loans n . e . c . O t h e r loans 25 26 27 28 10, 619 7, 4 9 5 6, 6 3 0 5 , 086 5, 183 4 , 179 O t h e r taxes p a y a b l e T r a d e debt 27 28 Miscellaneous liabilities 29 29 - - - - 10, 049 8 , 232 - " - - - " - Credit market instruments Mortgages Home mortgages Multifamily Commercial 30 2 3 5 , 101 2 4 1 , 974 247, 720 257, 237 266, 495 2 8 6 , 779 2 9 3 , 973 3 1 3 , 4 5 5 Net w o r t h 31 2 0 7 , 341 216, 263 2 2 4 , 556 2 3 7 , 636 250,257 2 7 1 , 116 2 8 1 , 664 3 0 7 , 138 Total n o n c o r p . b u s . r e a l e s t a t e 31 30 Memo: Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t 2 8 Year-End Outstandings Year-End Outstandings 1969 1970 1971 1972 1973 1974 1975 1976 Farm Business 1 Tangible assets 2 7 3 ,192 281 ,353 303 ,502 343 ,349 4 2 8 ,864 4 7 5 ,728 5 3 4 ,161 614 ,883 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 100 ,796 23 ,387 45 ,609 31 ,800 104 ,326 23 ,998 49 ,228 31 ,100 114 ,556 2 5 ,515 53 ,641 35 ,400 130 ,499 2 7 ,165 5 9 ,034 4 4 ,300 161 29 66 65 178 33 82 62 ,765 ,620 ,745 ,400 190 ,870 35 ,656 90 ,914 64 ,300 2 0 0 ,593 38 ,804 101 ,589 60 ,200 2 3 4 5 6 Land 172 ,396 177 ,027 188 ,946 2 1 2 ,850 2 6 7 ,281 2 9 6 ,963 343 ,291 414 ,290 6 10 ,182 10 ,786 11 ,477 12 ,413 13 ,256 13 ,850 14 ,847 16 ,273 7 6 ,400 3 ,782 3 ,211 571 6 ,515 4 ,271 3 ,649 622 6 ,638 4 ,839 4 ,147 692 6 ,900 5 ,513 4 ,731 782 6 ,940 6 ,910 5 ,762 1 ,148 7 ,010 7 ,837 6 ,453 1 ,384 6 ,947 8 9 9 ,326 7 ,718 10 1 ,608 11 2 8 3 ,374 2 9 2 ,139 314 ,979 355 ,762 4 4 2 ,120 4 8 9 ,578 5 4 9 ,008 631 ,156 12 4 8 ,827 51 ,430 5 5 ,555 61 ,347 70 ,067 78 ,199 8 7 ,475 98 ,321 44 ,617 28 ,995 10 ,328 5 ,294 1 ,019 4 ,275 4 7 ,588 30 ,492 11 ,155 5 ,941 967 4 ,974 51 ,564 32 ,381 12 ,500 6 ,683 1 ,014 5 ,669 5 6 ,813 35 ,361 14 ,306 7 ,146 1 ,050 6 ,096 65 ,410 39 ,806 17 ,165 8 ,439 1 ,241 7 ,198 73 ,319 44 ,922 18 ,236 10 ,161 1 ,313 8 ,848 8 2 ,136 49 ,853 2 0 ,199 12 ,084 2 ,089 9 ,995 92 55 23 13 2 11 4 ,210 3 ,842 3 ,991 4 ,534 4 ,657 4 ,880 5 ,339 6 ,141 20 21 Net w o r t h C o r p o r a t e farms 22 N o n c o r p o r a t e farms 23 2 3 4 ,547 16 ,418 2 1 8 ,129 2 4 0 ,709 16 ,850 2 2 3 ,859 2 5 9 ,424 18 ,160 241 ,264 2 9 4 ,415 2 0 ,609 2 7 3 ,806 372 ,053 26 ,044 346 ,009 411 ,379 2 8 ,797 382 ,582 461 ,533 32 ,307 4 2 9 ,226 5 3 2 ,835 21 37 ,298 22 4 9 5 ,537 23 24 Total farm real e s t a t e 2 1 7 ,115 2 2 4 ,590 2 4 0 ,988 2 6 8 ,828 329 ,279 369 ,480 4 2 0 ,989 4 9 9 ,785 24 7 Total financial assets 8 9 10 11 C h e c k a b l e dep. 8 c u r r e n c y Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s 12 T o t a l a s s e t s 13 T o t a l l i a b i l i t i e s 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n . e . c . O t h e r loans U.S. g o v e r n m e n t F e d . Inter. C r e d i t B a n k s 20 T r a d e debt ,583 ,703 ,380 ,500 7 ,100 6 , 156 5 ,214 942 ,180 ,412 ,230 ,538 y 226 ,312 13 14 15 16 17 18 19 Nonfarm Noncorporate Business 1 Tangible assets 3 9 2 ,318 4 1 7 ,227 458 444 5 1 7 ,207 597,,266 687,,699 741,,703 8 2 2 .646 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 2 6 7 ,688 1551,010 94,,332 18,,346 2 8 8 ,539 165 ,106 104,,299 19,,134 322, 8 4 4 185 •.471 115,• 702 21, 671 362 212 126 24 417,,059 246,,015 143,, 735 27,,309 481,,259 278, 794 172, 8 6 5 29, 600 511,,625 299, 5 2 5 184 8 1 9 27, 281 558,,611 333,,078 197,,623 27, 910 2 3 4 5 6 Land 124,,630 128,,688 135, 600 154,,366 180,,207 206, 4 4 0 230, 078 264,,035 6 31,,177 32,,495 39, 665 46,,149 64,,436 69, 2 3 6 71, 085 79,,890 12, 5 1 5 500 3, 754 300 8, 110 12,,515 1,,400 700 3,>875 700 6, 623 12, 5 1 5 3, 000 900 3, 776 1, 8 7 5 8, 123 12,,515 4,,600 1,,100 3,,694 3,.000 8,.770 16,,914 6,,213 1,.183 4, 019 3, 2 8 5 18, 626 17 =2 6 3 7, 784 1, 2 3 8 4, 048 3, 393 20, 368 17, 8 0 0 8, 088 1,,274 4,,056 3,,252 21,,171 19,,763 9,,490 1, 515 4,• 321 4, 151 22, 009 8 9 10 11 12 13 5, 998 5, 8 4 6 152 6,,682 6, 5 1 5 167 9, 4 7 6 7, 2 9 6 180 2, 0 0 0 12, 4 7 0 8, 2 7 8 192 4, 000 14, 196 9, 2 4 3 212 4, 741 15, 142 10, 2 2 9 246 4, 667 15, 4 4 4 11,.461 287 3, 696 18, 641 13, 518 360 4, 763 14 15 16 17 449, 722 4 9 8 , 109 563, 356 661, 702 756, 935 8 1 2 , 788 902, 536 18 7 Total f i n a n c i a l a s s e t s 8 9 10 11 12 13 C h e c k a b l e dep. 8 c u r r e n c y Time d e p o s i t s U.S. g o v e r n m e n t s e c u r i t i e s C o n s u m e r credit Mortgages Trade credit 14 15 16 17 Miscellaneous assets Insurance receivables E q u i t y in spons. a g e n c i e s Other 18 Total a s s e t s 19 Total l i a b i l i t i e s 20 21 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial - 423, 495 7 93, 5 8 5 106, 2 5 9 129, 001 162, 944 199, 4 9 6 2 4 0 , 694 2 6 0 , 117 2 8 6 , 312 19 8 8 , 366 57, 638 2, 008 32, 910 22, 720 101, 4 5 7 70, 0 4 2 2, 153 38, 683 29, 2 0 6 121, 5 8 7 8 8 , 251 3, 050 4 6 , 740 38, 461 151, 375 114, 5 2 7 3, 626 56, 6 6 0 54, 241 172, 319 116, 378 3, 226 64, 461 4 8 , 691 2 0 8 , 059 140- 8 6 3 3, 008 69, 961 67, 8 9 4 2 2 5 , 040 152, 377 3, 635 70, 069 78, 673 246, 4 7 0 164, 062 5, 018 73, 937 8 5 , 107 11, 696 19, 719 12, 604 2 0 , 732 13, 6 6 7 2 3 , 181 2 8 , 647 27, 294 3 5 , 988 31, 2 0 8 37, 680 34, 983 4 0 , 354 25 4 2 , 054 26 4,8 0 2 1, 0 3 7 4 , 377 2, 489 5, 080 3, 985 17, 653 5,545 2 0 , 145 6, 602 2 0 , 559 7, 785 27 22, 267 28 2, 000 4, 000 5,539 6, 945 7, 916 9, 7 9 0 2 9 25 26 Bank l o a n s n . e . c . Other loans 12, 054 18, 674 27 28 Other taxes payable T r a d e debt 5, 219 29 Miscellaneous liabilities 3 0 Net w o r t h - ,841 ,013 ,814 ,014 - - - 20 21 22 23 24 329, 910 343, 4 6 3 3 6 9 , 108 400, 412 462, 206 5 1 6 , 241 5 5 2 , 671 616, 2 2 4 30 334,432 354, 8 4 3 390, 632 4 4 4 , 125 515, 357 592, 280 6 4 1 , 967 7 1 6 , 372 31 Memo: 31 T o t a l n o n c o r p . b u s . r e a l e s t a t e D a t a are in m i l l i o n s of d o l l a r s . April 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 29 S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings Year-End O u t s t a n d i n g s 1977 1978 1979 1980 1981 1982 1983 1984 Farm Business 1 677, 486 797, 8 8 6 927, 297 1022, 0 5 7 1 1026, 4 3 5 984, 5 6 8 971, 155 8 5 9 , 083 T a n g i b l e a s s e t s 327, 4 4 5 63, 752 184, 328 79, 365 329, 4 9 5 65, 6 1 8 183, 0 1 7 80,860 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 2 3 4 5 529, 588 Land 6 2 3 4 5 2 1 7 , 660 4 3 , 801 114, 559 5 9 , 300 257, 236 4 9 , 624 133, 912 73, 700 2 8 4 , 969 5 4 , 431 149, 8 3 8 8 0 , 700 3 1 1 , 138 5 9 , 241 167, 397 8 4 , 500 325, 8 7 4 63, 118 181, 2 0 2 81, 554 322, 985 61, 8 7 2 181, 8 6 5 79, 2 4 8 6 459,826 5 4 0 , 650 642, 328 7 1 0 , 919 700, 561 661, 5 8 3 643, 710 7 18, 087 2 0 , 154 22, 226 2 4 , 199 2 6 , 053 27, 8 5 9 2 9 , 126 2 9 , 365 T o t a l f i n a n c i a l a s s e t s 8 9 10 11 7, 035 11, 052 9, 197 1, 8 5 5 7, 137 13, 017 10, 8 9 1 2 , 126 7, 2 8 4 14, 9 4 2 12, 4 0 6 2, 536 7, 3 9 0 16, 8 0 9 13, 714 3, 095 7, 5 0 4 18, 5 4 9 14, 8 2 1 3, 728 7, 634 20, 225 16, 110 4, 115 7, 780 21, 346 17, 129 4, 2 1 7 7, 942 21, 4 2 3 17, 144 4, 2 7 9 12 695, 5 7 3 8 1 8 , 040 949,523 1046, 2 5 6 1052, 4 8 8 1012, 4 2 7 1000, 281 13 112, 962 130, 8 3 3 155, 5 2 4 172, 305 193,,557 200,,615 14 15 16 17 18 19 105, 939 63 1949 25, 729 16, 261 3,,502 12,,759 122, 194 72, 757 28,,211 21,,226 7,,009 14,,217 145, 7 2 3 8 6 , 755 31 ,033 27,,935 10,,391 17,,544 161, 4 7 7 97- 4 8 7 31,,566 32, 4 2 4 13,,026 19, 398 177,,791 107,,229 32,,920 37 ,642 16 ,420 21 ,222 184, 493 111,,311 36 135 37,,047 16 ,657 2 0 ,390 20 7 ,023 8 ,639 9 ,801 10,,828 15 ,766 16 ,122 15,,395 21 23 5 8 2 ,611 4 0 ,783 541 ,828 687 ,207 4 8 ,104 639 ,103 793 ,999 5 5 ,580 738 ,419 8 7 3 ,951 61 ,177 8 1 2 ,774 8 5 8 ,931 60 ,125 798 ,806 8 1 1 ,812 56 ,827 754 ,985 796,,497 55,,755 740,,742 686, 2 4 5 Net w o r t h C o r p o r a t e farms 48, 037 N o n c o r p o r a t e farms 638,,208 21 22 23 24 556 ,547 655 ,976 767 ,791 8 5 0 ,110 8 5 1 ,654 8 1 2 ,210 800,,831 691,,661 T o t a l farm real estate 24 1934 ,297 2061,,311 2219,,481 T a n g i b l e a s s e t s ,119 ,790 ,209 ,120 1233,,943 765,,267 435 ,059 33 ,617 1316 824 455 36 C h e c k a b l e dep. 8 c u r r e n c y Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s 7 8 9 10 11 888, 448 Total assets 12 203, 784 202, 203 Total l i a b i l i t i e s 13 188, 389 113, 721 38, 927 35,,741 16,• 700 19,.041 187, 947 112, 4 2 2 39, 907 35, 6 1 8 17, 8 0 0 17, 8 1 8 14,,256 Credit market instruments Mortgages Bank loans n . e . c . O t h e r loans U.S. g o v e r n m e n t F e d . Inter. C r e d i t B a n k s 14 15 16 17 18 19 T r a d e debt 20 Nonfarm Noncorporate Business 1353 ,885 1587 ,847 1837 ,819 1 953 ,995 1136 ,511 2 3 4 5 632 ,947 384 ,099 2 1 9 ,394 29 ,454 742 ,235 4 4 8 ,918 2 6 0 ,593 32 ,724 867 540 291 34 6 321 ,048 394 ,276 4 8 6 ,223 5 8 9 ,100 702 ,236 758 ,178 8 2 7 ,368 902 ,960 7 96 ,564 117 ,233 138 ,892 147 ,781 192 ,179 197 ,769 2 3 0 ,555 2 7 8 ,531 T o t a l f i n a n c i a l a s s e t s 8 9 10 11 12 13 2 2 ,379 12 ,127 2 ,412 4 , 127 5 ,509 26 ,156 2 5 ,570 15 ,522 3 ,184 4 ,308 8 ,114 31 ,478 2 8 ,332 21 ,269 2 ,805 4 ,453 11 ,001 34 ,894 31 ,106 24 ,231 2 ,564 4 ,391 12 ,217 36 ,512 33 ,251 34 ,693 3 ,298 4 ,409 2 0 ,339 4 0 ,888 36 38 3 4 24 48 14 15 16 17 23 ,854 16 ,032 404 7 ,418 2 9 ,057 18 ,917 531 9 ,609 36 ,138 21 ,805 643 13 ,690 36 ,760 24 ,279 755 11 ,726 55 ,301 26 ,334 836 2 8 ,131 41 772 2 8 ,362 865 12 ,545 38 ,107 23 ,801 841 13 ,465 18 1050 ,559 1253 ,744 1492 ,777 1735 ,628 2 0 2 9 ,998 2 1 3 2 ,066 2291 ,866 19 323 ,877 378 ,144 4 5 4 ,502 5 1 8 ,980 5 7 5 ,601 662 ,948 759 ,783 ,662 ,884 ,896 ,882 998 628 336 33 ,747 ,290 • 461 ,996 1135 710 391 33 ,583 ,350 ,737 ,496 4 9 2 ,163 316 , 108 8 ,544 103 ,659 2 0 3 ,905 1176 722 420 33 ,794 .068 ,244 ,461 ,961 ,469 5 6 3 ,987 393 ,095 15 ,056 114 ,005 264 ,034 45 51 6 5 29 55 645 464 39 131 293 ,014 ,714 ,023 ,128 ,305 ,264 ,842 ,070 ,057 ,165 ,848 49 65 5 5 39 61 ,521 ,875 ,239 ,407 ,826 ,056 ,481 ,523 ,311 ,753 51 ,581 34 ,838 861 15 ,882 2 3 4 5 Land 6 8 9 10 11 12 13 Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 14 15 16 17 908 ,904 T o t a l l i a b i l i t i e s ,006 ,272 ,056 ,802 ,414 7 C h e c k a b l e dep. 8 c u r r e n c y Time deposits U.S. g o v e r n m e n t s e c u r i t i e s C o n s u m e r credit Mortgages T r a d e credit 2 4 9 8 ,012 T o t a l a s s e t s 769 552 41 157 353 1 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories Credit market instruments Mortgages Home mortgages Multifamily Commercial 18 19 20 21 22 23 24 20 21 22 23 24 2 7 8 ,550 180 ,787 6 • 778 8 0 ,350 93 ,659 326 ,468 2 0 4 ,959 7 ,573 8 8 ,792 108 ,594 392 ,019 2 4 7 ,167 7 ,035 96 ,366 143 ,766 4 4 7 ,805 2 9 2 ,822 7 ,954 102 ,515 182 ,353 25 26 4 6 ,393 51 ,370 5 9 ,649 61 ,860 72 ,815 72 ,037 75 ,267 79 ,716 8 5 ,467 90 ,588 75 ,958 94 ,934 75 ,504 106 ,268 92 ,352 124 ,382 Bank loans n . e . c . O t h e r loans 25 26 27 28 8 ,871 23 ,823 9 ,951 2 5 ,555 12 ,795 31 ,737 15 ,328 36 ,446 13 ,744 41 ,560 15 ,235 45 ,322 17 ,081 45 ,786 18 ,151 51 ,483 O t h e r taxes p a y a b l e T r a d e debt 27 28 29 12 ,633 16 ,170 17 ,951 19 ,401 2 8 ,134 38 ,404 51 ,074 70 ,264 Miscellaneous liabilities 29 30 726 ,682 8 7 5 ,600 1038 ,275 1454 ,397 1469 ,118 1532 ,083 1589 ,108 Net w o r t h 1867 ,172 2 0 1 9 ,341 T o t a l n o n c o r p . b u s . r e a l estate 31 1216 • 648 30 Memo: 31 8 3 7 ,209 1002 ,718 1201 ,787 Data are in m i l l i o n s of d o l l a r s . 1420 ,872 1655 ,019 1744 ,349 A p r i l 1990 Farm & Noncorporate Business 3 0 Farm 8 Noncorporate Business S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings Year-End Outstandings 1985 1986 1987 1988 1989 Farm Business 754 ,406 691,,865 702,,695 733 ,907 796 ,815 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 313 65 175 71 ,161 ,960 ,723 ,478 302,,805 65 ,749 170 ,779 66,,277 305,,453 68 ,077 168,,155 69, 305 67 162 75 315 67 166 80 ,347 ,922 ,650 ,775 2 3 4 5 6 Land 441 ,245 389,,060 397,,242 4 2 8 ,334 4 8 1 ,468 6 35,,266 37,,649 4 0 ,768 4 3 ,411 7 ,750 ,018 ,998 ,020 ,992 •419 ,182 ,237 8 9 10 11 8 4 0 ,226 12 1 Tangible assets 7 Total financial assets 8 9 10 11 C h e c k a b l e dep. 8 c u r r e n c y Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s 12 T o t a l a s s e t s 13 T o t a l l i a b i l i t i e s 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n . e . c . Other loans U.S. government F e d . Inter. C r e d i t B a n k s 20 T r a d e debt 21 Net w o r t h Corporate farms 22 N o n c o r p o r a t e farms 23 32 ,033 8 ,120 2 3 ,913 19,,918 3 ,995 8,,314 26,,952 23,,536 3,,416 8 524 29,,125 26,,173 2,,952 786 ,439 727,,131 740 ,344 8 32 28 3 ,573 ,351 ,491 ,731 774 ,675 8 34 32 2 187 ,438 170,,793 160,,259 153 ,327 155 ,001 13 173 ,438 105 ,850 35 ,507 32 ,081 18 , 189 13,,892 156,,607 95,,781 31, 2 4 0 29,,586 18,,023 11,,563 145,,499 88,,869 29,,053 27,,577 17,,650 9,,927 137 86 29 20 13 7 ,594 ,805 ,817 ,974 ,341 ,633 137,,894 8 6 ,506 30 ,688 2 0 ,700 13,,400 7,,300 14 15 16 17 18 19 14,,186 14,,760 15,,733 17,,107 20 5 9 9 .001 41 • 930 557,,071 5561,338 38,,944 517,,394 580, 085 40,.606 539,,479 621,,348 43,,494 577,,854 685 ,225 47,,966 637,,259 23 603,,482 551,,064 562,-747 592,,217 6 4 8 ,000 24 14,,000 21 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 6 Land 7 Total financial assets 2 3 7 0 ,320 2 5 1 4 ,609 2 6 9 3 ,421 1389 874 475 38 1438 908 492 37 1542 985 515 41 ,151 ,619 • 690 ,842 ,822 ,664 ,282 ,876 659 ,831 ,024 ,804 2 7 8 4 ,099 2 9 3 3 ,797 1 1588 1005 537 45 1680 1067 564 48 2 3 4 5 ,908 ,423 ,956 ,529 ,244 ,207 • 867 ,170 981 ,169 1075 ,787 1150 ,762 1195 ,191 1253 ,553 6 317 ,291 359 ,592 394 ,298 4 2 2 ,924 4 5 2 ,319 7 ,288 ,798 ,940 ,166 ,926 ,211 71 ,288 99 ,298 7 ,540 6 ,636 51 ,254 77,,011 75 ,397 105 ,986 8 ,140 7 ,206 54 ,582 8 1 ,811 78 ,622 116 ,117 8 ,740 7 ,508 57 ,910 8 6 ,611 8 9 10 11 12 13 C h e c k a b l e dep. 8 c u r r e n c y Time d e p o s i t s U.S. g o v e r n m e n t s e c u r i t i e s C o n s u m e r credit Mortgages Trade credit 61 76 5 5 43 65 14 15 16 17 Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 5 7 ,973 38 ,642 833 18 ,498 71 ,263 43 ,451 771 2 7 ,041 81,,271 49,,497 733 31,,041 8 9 ,802 54 ,077 733 34 ,992 96 ,811 5 7 ,339 717 38 ,755 14 15 16 17 18 T o t a l a s s e t s 2 6 8 7 ,611 2874,,201 3087,,719 3 2 0 7 ,023 3 3 8 6 ,116 18 19 Total l i a b i l i t i e s 1054 ,521 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial ,297 ,585 ,754 ,841 ,983 ,858 67 87 6 6 47 72 8 9 10 11 12 13 8 9 8 ,338 663 • 2 7 5 44,,806 191 ,272 427,,197 1166,,740 1287,,760 1391,,480 1468,,759 19 1001,,554 743,,564 46,,727 224,,053 472,,784 1109, 4 0 8 8 2 3 ,564 27,,641 247,,112 548,,811 1200 ,856 8 8 4 ,877 2 7 ,715 2 6 2 ,810 594,,352 1266,,759 931 ,688 2 5 ,473 2 7 7 ,635 628,,580 20 21 22 23 24 25 26 Bank l o a n s n . e . c . Other loans 98 ,510 136 ,553 110,,207 147,,783 120,,869 164,,975 128,,927 187,,052 133,,144 2 0 1 927 25 26 27 28 Other taxes payable T r a d e debt 21,,596 56,,858 23,,269 61,,082 24,,869 64, 648 26,,469 67,,320 28,,069 69, 096 27 28 29 Miscellaneous liabilities 77,,729 80,,835 88, 835 96,,835 104, 8 3 5 29 1633,,090 1707,,461 1799, 959 1815, 5 4 3 1917, 3 5 7 30 2164,,881 2305,,933 2 4 7 9 , 173 2557,,441 2 6 9 8 ,,661 31 30 Net w o r t h Memo: 31 T o t a l n o n c o r p . b u s . r e a l e s t a t e D a t a are in m i l l i o n s of d o l l a r s . April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business S e c t o r B a l a n c e S h e e t w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t 3 1 Year-End Outstandings Year-End Outstandings Nonfinancial Corporate Business, Excluding Farms 305, 376 T a n g i b l e a s s e t s 253,,337 4 ,981 178 656 69,,700 266, 376 5, 069 190, 4 9 3 70,,814 2 0 1 , 369 116, 4 7 4 2- 973 84,.689 28, 8 1 2 146, 654 3, 4 1 6 102, 8 2 8 40, 4 1 0 176, 0 8 4 3, 932 123, 675 48, 4 7 7 6 19, 8 5 6 22, 0 9 2 25, 2 8 5 27, 739 29,,682 32 ,615 36,,001 7 69, 006 67, 4 2 0 76, 167 81, 670 8 5 ,601 102 ,421 110 ,491 8 9 10 38, 652 18, 959 900 33, 5 9 4 19, 5 0 2 900 35, 155 21, 434 900 36,.256 21,.861 900 39 ,260 ,903 900 43 ,844 24 ,222 900 46 ,437 25 ,859 900 46,,271 26,,641 900 12 13 14 15 16 33 18, 5 0 8 252 68 12, 779 313 32 51 12, 291 350 129 10 14 ,697 485 265 57 17 ,870 652 143 91 18 ,653 844 90 75 17 ,647 813 195 2 3 4 5 136, 330 - - 2 2 3 , 968 289,.338 168, 746 1 196, 2 2 9 4, 2 1 9 138, 191 53, 8 1 9 229, 646 199,,964 4,,385 146,,192 49,,387 259,,057 226,,442 4 ,725 161,,498 60,,219 39,,000 3 4 5 Land 6 115,,957 T o t a l f i n a n c i a l a s s e t s - 10 12,,853 452 180 (current c o s t ) Reproducible assets Residential structures N o n r e s . plant & e q u i p m e n t Inventories 7 Liquid assets 8 C h e c k a b l e dep. 8 c u r r e n c y 9 Time deposits 10 M o n e y m a r k e t fund s h a r e s 11 Security RPs 12 Foreign deposits 13 U.S. g o v e r n m e n t s e c u r i t i e s 14 Tax-exempt obligations 15 O p e n - m a r k e t paper 16 17 18 19 20 21 22 23 24 2, 5 2 3 2,.994 3, 643 4 ,246 4 ,646 5 ,581 6 ,190 7 ,068 20, 092 7, 739 7,.227 418 22,,906 7,,926 ,227 676 28,.030 9,.339 8,.366 956 30,,259 10,.909 9,,625 1,,192 2 9 ,471 12 ,224 10 ,700 1 ,383 39 ,593 13 ,403 11 ,788 1 ,418 4 2 ,989 14 ,875 12 ,979 1 ,548 45 ,849 16 ,769 14 ,721 1 ,666 94 23 17 92 141 197 348 382 25 205,,336 2 3 6 ,166 277,,536 305,,638 315 ,247 361 ,478 399 ,829 421 ,333 Total a s s e t s 26 71,,559 81 ,118 94,.233 103,,179 102 ,514 125 ,622 139 ,851 145 ,451 Total l i a b i l i t i e s 27 28 29 30 31 32 33 43 ,627 49 ,667 56, 974 63,,294 65 ,117 71 ,885 8 0 ,655 8 7 ,506 23 ,905 8 ,636 291 2 ,081 6 ,264 24 ,858 10 ,215 659 2 ,254 7 ,302 27,,671 11,,694 872 2,,512 8 ,310 31 ,971 13,,074 1,,093 2,,949 9 ,032 34 ,874 13 ,861 1 ,031 3 ,532 9 ,298 36 ,498 15 ,135 1 ,428 4 ,267 9 ,440 39 ,792 16 ,179 1 ,364 4 ,937 9 ,878 44 ,497 17 ,215 1 ,587 5 ,353 10,,275 34 35 36 37 38 39 8 ,875 12 ,465 15,,535 16,,137 14,,245 17 ,923 2 2 .120 22,,909 95 134 1 ,335 647 137 191 1 ,308 493 172 187 ,190 1, 525 166 190 1,.245 511 162 214 1,,123 638 207 275 1,,231 616 269 313 1,,348 634 331 335 ,564 1, 655 Bank loans n . e . c . L o a n s from f o r e i g n C o m m e r c i a l paper A c c e p t a n c e liab. to b a n k s N o n b a n k finance l o a n s U.S. government loans 34 35 36 37 38 39 40 41 42 10 ,828 14 ,597 2 ,507 8 ,807 2 0 ,141 2< ,503 11, 2 6 4 23, 392 2,.603 12, 118 24, 9 8 0 2, 787 9,,738 24, 718 2,.941 17,-252 33,,094 3,,391 21,,922 33 ,616 3,,658 18,,672 35,.328 3,,945 P r o f i t taxes p a y a b l e T r a d e debt F o r e i g n direct inv. in U.S. 40 41 42 43 133 ,777 155 ,048 183, 303 202, 4 5 9 212, 733 235, 8 5 6 259,,978 275,,882 Net w o r t h 44 79 ,166 92,,996 108, 707 117, 384 121, 652 131, 966 144, 164 152, 984 T o t a l c o r p . real estate 45 8 7 ,770 83,,210 8 4 , 922 83, 8 6 2 92,.205 116, 647 138, 2 5 0 7 C o n s u m e r credit M u t u a l fund s h a r e s Trade credit Miscellaneous assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other C r e d i t m a r k e t debt T a x - e x e m p t debt C o r p o r a t e bonds Mortgages Home mortgages Multifamily Commercial 17 18 19 20 21 22 23 24 27 28 29 30 31 32 33 Memo: M a r k e t value of e q u i t i e s . including corp.farm equities 149,.941 (Net worth of c o r p o r a t e f a r m s . 9, 191 from farm sector t a b l e ) 46 5 = , 372 6,.473 7, 045 7, 175 6, 968 8, 371 9, 2 2 5 47 48 32.6% 49.7% 32.0% 59.6% 31 .0% 67.0% 31.2% 75.4% 30.6% 70.6% 30.4% 61.6% 31.0% 58.3% 49 65.6% 53.6% 46.3% 41.4% 43.3% 49.4% 53.1% 50 98,,123 116,,290 133 ,604 149 ,148 154 ,658 174 ,438 196 ,820 2 1 0 ,204 T a n g i b l e a s s e t s 51 52 53 54 ,90, 3 4 0 1, 654 62,,369 26,,317 108, 0 1 7 1,.700 68 771 37,,546 125 029 1,,800 78,,544 44,,685 140,,329 1,,963 89, 4 7 6 4 8 ,890 145 ,645 2,,129 98 ,203 4 5 ,313 165 2 107 55 187 2 119 64 200,,837 2,,519 132,,216 66,,102 3 1 . 7 % D e b t - n e t w o r t h ratio ( 2 7 / 4 3 ) 5 8 . 3 % D e b t - e q u i t i e s ratio ( 2 7 / 4 5 ) R a t i o of m a r k e t value 54.3% to net w o r t h ( 4 5 / 4 3 ) 46 47 48 49 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost b a s i s : ,131 ,314 ,716 ,101 ,192 ,422 ,918 ,852 9,,367 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 51 52 53 54 Land 55 55 7,,783 8,,273 8 ,575 8 ,819 9,,013 9 ,307 9,,628 56 167,,129 183 ,710 2 0 9 ,771 2 3 0 ,818 240,,259 276 ,859 307,,311 326,,161 T o t a l a s s e t s 56 57 95 ,570 102,,592 115 ,538 127 ,639 137,,745 151,,237 167,,460 180,,710 Net w o r t h 57 58 4 6 ,996 49 ,902 53 ,414 57,,783 61,,691 66,,015 71,,822 59 45.6% 47.2% 47.5% Memo: Data are in m i l l i o n s of d o l l a r s . 77,,302 Total c o r p . real estate 4 8 . 4 % D e b t - n e t w o r t h ratio (27/57) 58 59 April 1990 Nonfinancial Corporate Business 32 Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1955 1956 1957 1958 1959 1960 Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current c o s t )1 322 ,385 335 ,722 367 ,317 410 ,238 439 ,521 453,142 476,880 493,209 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 279 ,398 5 ,113 201 ,575 72 ,710 287 ,429 5 ,206 210 ,965 71 ,258 314 ,382 5 ,359 230 ,103 78 ,920 349 ,921 5 ,462 257 ,504 8 6 ,955 371 ,645 5 ,542 277 ,332 8 8 ,771 378,522 5,750 285,999 86,773 396,473 6,076 297,664 92,733 407,705 6,348 305,767 95,590 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Checkable dep. 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 . 42 ,987 48 ,293 52 ,935 60 ,317 67 ,876 74,620 80,407 85,504 119 ,052 124 ,627 142 ,089 147 ,210 151 ,876 163,502 178 ,716 181,736 48 • 013 26 ,550 900 48 ,373 28 ,329 1 ,100 53 ,428 29 ,282 1 ,000 48 ,893 28 ,990 1 ,000 48 ,458 29 ,024 1 ,000 50,992 30,083 1,900 56,185 29,196 1,500 114 19,,240 1,,005 204 158 17,,523 972 291 129 21,,581 1,,219 217 138 17,,118 1,,342 305 131 16,,389 479 435 149 16,692 1,958 210 51,429 28,243 3,000 148 16,868 2,382 788 8 9 10 11 12 13 14 15 16 9,643 82,291 38,373 31,865 4,672 72 1,764 17 18 19 20 21 22 23 24 1,794 742 7,»327 7, 672 8, 359 8,,667 8, 692 8,848 10,141 48, 388 20- 194 17, 631 1, 866 63, 789 25, 861 505 2, 393 13 950 65, 414 29, 312 25. 394 2, 965 32 921 71,812 31,850 27,409 3,511 38 892 77,363 35,027 29,827 4,081 51 1,068 670 697 25 Total assets 441, 437 460, 349 509, 406 557, 448 591, 397 26 Total liabilities 150 ,363 154,439 176,307 189,299 198,502 91 ,827 96,541 104,998 115,396 124,982 48 ,012 18 ,101 1 ,547 5 ,670 10 ,884 51,547 19,732 1,872 5,939 11,921 54,564 21,598 6,348 13,234 58,040 23,225 1,788 6,632 14,805 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial 132 22,821 45, 003 18, 709 16, 253 1, 786 57, 988 22, 314 19, 395 2, 034 2 883 27 28 29 30 31 32 33 1 655,596 674,945 25 208,404 226,924 237,906 26 133,378 143,681 64,072 24,857 1,671 6,855 16,331 69,715 27,714 1,823 7,611 153,656 76,216 33,448 1,703 9,289 22,456 27 28 29 30 31 32 33 37,438 769 834 4,095 856 34 35 36 37 38 39 18,280 72,794 30,800 1,938 8,518 20,344 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 22 ,357 21,694 25,577 30,658 31,866 31,527 .35,259 402 376 1 ,626 953 531 362 332 658 582 2,430 752 315 593 3,141 779 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 13,378 55,533 6,115 15,817 60,822 6,604 2,016 1,629 1,881 378 490 1,923 682 422 619 2,405 741 19,.271 35, 014 4, 251 15,988 37,277 4,633 20,085 46,148 5,076 18,102 50,342 5,459 15,971 51,839 5,710 291, 074 305,910 333,099 44 Total corp. real estate 161, 351 170,748 Market value of equities, 45 including corp.farm equities (Net worth of corporate farms, 46 from farm sector t a b l e ) 144, 776 216,033 269,173 289,169 242,470 342,082 361,299 354,114 45 9, 068 9,209 9,432 9,929 10,402 11,049 11,305 11,385 46 31 .5% 63 .4% 31.5% 44.6% 31.5% 39.0% 31.3% 39.9% 31.8% 51.5% 32.6% 38.9% 33.5% 39.7% 35.1% 47 43.3% 48 49 .7% 70.6% 80.8% 78.5% 61.7% 43 Net worth 602 806 684 13,615 40 63,725 41 6,910 42 437,039 43 Memo: 47 Debt-net worth ratio (27/43) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) 251,107 44 81.0% 49 Tangibles and net worth on historical cost basis: 50 Tangible assets 226,060 236,438 256,302 281,919 302,897 313,898 335,052 354,625 50 51 52 53 54 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 216,141 2,627 145,603 67,911 226,174 2,732 157,140 66,302 245,383 2,847 169,571 72,965 269,788 2,959 186,287 80,542 290,021 3,107 204,323 82,591 299,508 3,392 215,807 80,309 319,055 3,771 228,835 86,449 55 Land 337,109 4,104 243,555 89,450 56 Total assets 57 Net worth 51 52 53 54 9,919 10,264 10,919 12,131 12,876 14,390 15,997 17,516 55 345,112 361,065 398,391 429,129 454,773 477,400 513,768 536,361 56 194,749 206,626 222,084 239,830 256,271 268,996 286,844 298,455 57 84,146 90,298 97,055 106,745 116,030 124,195 132,272 140,943 58 47.1% 46.7% 47.2% 48.1% 48.7% 49.5% 50.0% 51.4% 59 Memo: 58 Total corp. real estate 59 Debt-net worth ratio (27/57) Data are in millions of dollars. April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 33 S e c t o r B a l a n c e S h e e t with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1963 1964 1965 1966 Nonfinancial Corporate Business, Excluding Farms 1 5 0 8 , 781 5 2 7 , 068 5 4 7 , 336 5 7 5 , 984 617, 322 677, 610 726, 638 789, 967 T a n g i b l e assets 2 3 4 5 4 1 7 , 655 6, 758 313, 132 97, 765 4 3 4 , 026 7, 361 323, 8 8 4 102, 781 4 5 2 , 321 8 , 014 335, 628 108, 679 477, 878 8, 984 353, 116 115, 778 515, 965 9, 8 0 4 380, 964 125, 197 5 7 2 599 10, 891 420, 2 6 7 141, 441 621, 393 11, 650 457,,368 152,,375 684. 696 13, 681 506, 007 165, 008 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories (current c o s t ) Land 6 91, 126 93, 0 4 2 95, 015 98, 106 101, 357 105,,011 105, 245 105,.271 7 194, 579 2 0 6 , 757 222, 448 2 3 7 , 308 259, 125 272,,722 289,,197 320,.072 Total f i n a n c i a l a s s e t s 8 9 10 11 12 13 14 15 16 5 4 ,8 3 7 31, 673 4, 100 5 7 , 937 34, 5 6 4 5, 000 61, 337 33, 4 2 7 5, 687 61, 670 32, 7 3 8 6, 671 63, 176 33, 053 8, 993 61,,326 32,,371 8,,603 63, 095 34 8 1 7 9,,682 68, 5 6 9 37,,531 9, 056 236 15, 344 2, 395 1, 089 790 13, 5 8 2 2, 697 1, 304 731 16, 736 3, 787 969 309 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 10, 4 0 5 168 92, 757 45, 4 9 0 37,-276 5,• 684 90 ,440 2 ! 11, 3 6 8 203 99, 057 50, 4 8 3 401,736 6,,031 90 3 626 12,,303 253 107,,600 55: 4 8 2 44 ,480 6 ,350 91 4 ,561 13, 2 4 2 330 120,,876 61,,501 49,,283 6,,766 97 5,,355 13 ,418 425 133 ,247 64 ,306 51 ,007 7 ,331 120 5 ,848 8 1 3 ,292 8 7 6 ,447 950 ,332 1015 ,835 9, 638 13 ,704 635 141 .575 70 , 188 55 ,329 7 ,999 134 6 ,726 13,,822 845 160,,097 76 .739 58,,547 8 ,788 160 9 ,244 1 2 3 4 5 6 7 L i q u i d assets C h e c k a b l e dep. 8 c u r r e n c y Time d e p o s i t s M o n e y market fund s h a r e s S e c u r i t y RPs Foreign deposits U.S. g o v e r n m e n t s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper 8 9 10 11 12 13 14 15 16 C o n s u m e r credit M u t u a l fund shares T r a d e credit M i s c e l l a n e o u s assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s Other 17 18 19 20 21 22 23 24 17 18 19 20 21 22 23 24 88, 232 41, 8 7 2 34 =717 5; 134 80 1 •941 25 703 ,,360 733 ,825 769 ,784 26 253 ,348 2 7 0 ,270 2 9 2 ,239 312 ,850 346 ,485 380 ,764 4 0 9 ,221 456 ,976 T o t a l l i a b i l i t i e s 27 28 29 30 31 32 33 163 ,509 176 ,101 188 ,321 2 0 0 ,822 219 ,805 243 ,165 2 6 8 ,089 2 9 5 .026 8 0 ,611 37 ,442 1 ,821 10 ,363 25 ,258 8 4 ,643 42 ,084 2 ,001 11 ,413 28 ,670 8 8 ,414 46 ,780 2 ,002 12 ,403 32 ,375 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 56 2 16 38 135 58 2 17 39 34 35 36 37 38 39 38 ,349 41 ,862 45 ,322 49 ,884 60 ,730 69 ,136 75 ,631 8 5 ,429 1 ,094 895 4 ,196 922 1 ,198 898 4 ,281 1 ,135 968 665 4 ,989 1 ,183 1 ,125 764 5 ,784 1 ,382 797 891 6 ,766 1 ,676 ,622 1 ,063 7 ,303 2 ,042 3 ,034 1 ,304 7 ,129 2 ,233 4 249 1 ,574 8 ,245 1 ,657 Bank loans n.e.c. L o a n s from foreign C o m m e r c i a l paper A c c e p t a n c e liab. to banks Nonbank finance loans U.S. g o v e r n m e n t loans 34 35 36 37 38 39 40 41 42 14 ,995 67 ,452 7 ,392 15 ,941 70 ,616 7 ,612 17 ,508 78 ,466 7 ,944 18 ,007 8 5 ,658 8 ,363 2 0 ,169 97 ,714 8 ,797 2 0 ,374 108 ,171 9 ,054 15 ,647 115 ,562 9 ,923 18 5 0 8 132 ,627 10 ,815 P r o f i t taxes payable T r a d e debt F o r e i g n direct inv. in U.S. 40 41 42 43 4 5 0 ,012 463 ,555 4 7 7 ,545 5 0 0 ,442 529 ,962 5 6 9 ,568 606 ,614 653 ,063 N e t w o r t h , 132 ,626 ,102 ,050 ,474 1110 ,039 Total a s s e t s ,025 ,847 ,224 ,082 ,541 25 26 Credit m a r k e t debt T a x - e x e m p t debt C o r p o r a t e bonds Mortgages Home m o r t g a g e s Multifamily Commercial 27 28 29 30 31 32 33 43 Memo: 3 6 6 , 6 6 6 Total corp. real estate 45 428,294 389,171 456,076 509,516 553,720 504,223 651,678 46 11,726 12,020 12,424 12,886 13,783 14,325 15,045 47 48 36.3% 38.1% 37.9% 45.2% 39.4% 41.2% 40.1% 39.4% 42.6% 48.2% 44.1% 41.1% 41.4% 39.6% M a r k e t value of e q u i t i e s , 736,506 including corp.farm equities (Net w o r t h of c o r p o r a t e f a r m s , 14,396 from farm sector t a b l e ) 4 5 . 1 % D e b t - n e t w o r t h ratio ( 2 7 / 4 3 ) 4 0 . 0 % D e b t - e q u i t i e s ratio ( 2 7 / 4 5 ) R a t i o of m a r k e t value 112.7% to net w o r t h ( 4 5 / 4 3 ) 44 45 46 47 48 49 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost basis: 50 372, 784 394,,837 418,,173 4 4 5 ,602 4 8 2 ,941 531,,893 574,.619 620,,903 T a n g i b l e assets 50 51 52 53 54 353, 214 4, 5 7 3 256, 541 92, 100 373 ,409 5,,232 270:,794 97 ,383 394, 8 8 7 6,,067 2 8 5 646 103,,174 420,,328 6, 915 303,,428 109,,985 455 7 327 119 501 ,694 8 ,412 357 .939 135,,343 542,,245 9,,013 386,,579 146,,653 586 239 10,.117 418,. 144 157,,978 Reproducible assets Residential structures N o n r e s . plant 8 equipment Inventories 51 52 53 54 Land 55 ,091 ,717 ,914 ,460 55 19,,570 21 ,428 23,,286 25, 2 7 4 27 ,850 30,,199 32, 374 56 567,,363 601 ,594 640,,621 682,,910 742 ,066 804,,615 863,,816 940,,975 T o t a l a s s e t s 56 57 314 ,015 331 ,324 348 ,382 370,,060 395 ,581 423,,851 454,,595 483,,999 Net w o r t h 57 58 149 ,900 158 ,691 167 ,616 177,,659 190, 8 5 3 205,,677 220,,100 235,,915 T o t a l c o r p . real estate 34,,664 Memo: 55.5% Data are in m i l l i o n s of d o l l a r s . 57.3% 6 0 . 9 % D e b t - n e t w o r t h ratio (27/57) 58 April 1990 Nonfinancial Corporate Business 34 N o n f i n a n c i a l C o r p o r a t e Business S e c t o r B a l a n c e S h e e t with T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End O u t s t a n d i n g s Year-End Outstandings 1970 1971 197 1973 1974 1975 1976 N o n f i n a n c i a l C o r p o r a t e B u s i n e s s , E x c l u d i ng F a r m s 865 814 934 953 1008 ,425 1089,,252 1231,,514 1521 ,038 1651, 681 1805 .605 1 2 3 4 5 Reproducible assets Residential structures N o n r e s . plant & e q u i p m e n t Inventories 756 15 558 182 823 17 615 190 377 516 785 076 893 870 20 2 0 0 672 ,937 200,,733 966, 2 9 8 21 ,261 727,,758 217, 2 7 9 1096, 153 23, 042 8 1 3 ,295 259 • 816 1362 ,786 24 • 914 1006 ,557 331,,315 1487, 304 25, 8 3 7 1124, 220 337, 247 1627,,296 27,,616 1224 • 508 375,,172 2 3 4 5 6 Land 108 927 111 576 114,,555 122,,954 135,,361 158 ,252 1 Tangible assets (current c o s t ) 7 Total f i n a n c i a l a s s e t s 8 9 10 11 12 13 14 15 16 Liquid a s s e t s C h e c k a b l e dep. 8 c u r r e n c y Time d e p o s i t s M o n e y m a r k e t fund s h a r e s S e c u r i t y RPs Foreign deposits U.S. g o v e r n m e n t s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper 17 18 19 20 21 22 23 24 C o n s u m e r credit M u t u a l fund shares Trade credit M i s c e l l a n e o u s assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 25 Total a s s e t s 26 Total l i a b i l i t i e s 27 28 29 30 31 32 33 Credit m a r k e t debt T a x - e x e m p t debt Corporate bonds Mortgages Home m o r t g a g e s Multi family Commercial 887 898 739 250 164, 377 178 ,309 6 7 351 8 2 7 370 274 406,,708 456,,211 526 8 1 0 517,,494 558, 515 612 ,893 69 008 43 122 3 652 69 494 44 059 5 347 78 ,819 42 ,581 9 ,509 88,,015 44, 938 11,,890 100 960 4 6 315 16 623 105 ,407 4 7 ,772 2 0 ,464 125,,170 53,,927 22,,351 234 798 7 492 2 175 9 389 1 ,077 1 ,234 9 ,968 3 ,175 11 ,275 2,,688 2,•172 7,,917 4 ,175 , 14,,235 139,• 778 8 9 56,,365 24,• 413 10 11 7-• 048 12 7,.441 13 16,.421 14 3, 419 15 24, 671 16 17 ,266 690 ,849 ,084 ,388 ,878 359 17 ,459 17, 954 732 230,-251 119,,259 81 ,503 13,,729 377 23.,650 1545 ,463 3 1 7 2 7 311 173 322 800 628 11 3 4 4 14 ,262 ,329 517 ,038 ,876 19 , 180 7*5 2 6 9 ,293 136,,602 91,,715 15,,689 396 28,,802 ,485 ,946 ,566 ,654 ,520 4,,731 5- 772 14, 281 4- 481 19,.627 19 ,535 816 2 4 6 ,260 145 ,476 100 364 17,,816 413 26 ,883 19, 8 6 2 890 252, 457 160, 136 114, 140 20, 043 423 25, 530 2 0 3 8 ,532 2210,,196 5 4 5 4 16 14 095 745 182 , • 878 8 5 ,101 63 .704 9 >935 , 225 11 ,237 14 647 645 191 ,404 94 084 70 ,269 10,,831 336 12,,648 1217,• 641 1305 ,227 1415 ,133 504 ,097 5 3 7 ,391 5 7 7 ,138 631 ,713 736 ,303 730,,155 324 ,014 352 ,491 ,756 ,918 ,153 ,750 ,015 377 ,799 86 185 ,563 61 ,422 3 ,050 21 ,672 36 ,700 409 , 186 634 197 ,750 64 , 183 3,,626 24 •457 36 ,100 467 2 206 89 3 26 59 517 4 226 85 3 28 54 147 58 2 18 37 ,000 • 038 ,008 ,551 479 166 58 2 19 37 203 106 76 11 1758 ,324 ,381 ,430 ,909 ,542 ,226 ,914 ,402 ,784 ,078 ,579 ,458 ,008 ,308 , 142 21,,660 964 271 .269 179,,222 126, 583 23, 424 460 28, 755 17 18 19 20 21 22 23 24 2418,,498 25 751 ,• 675 8 0 6 ,519 26 532, 767 6, 678 253- 783 86, 958 3, 635 28, 798 54,,525 570 ,170 9 ,163 276 ,614 93 ,826 5 ,018 29 ,950 58 ,858 27 28 29 30 31 32 33 34 35 36 37 38 39 34 35 36 37 38 39 Bank loans n.e.c. L o a n s from foreign C o m m e r c i a l paper A c c e p t a n c e liab. to banks Nonbank finance loans U.S. g o v e r n m e n t l o a n s 98 ,834 103 ,628 107 ,679 120 ,453 5 ,356 2,,282 10 ,730 1 ,774 7 ,133 3 ,090 10 ,907 2 ,059 6 ,247 3 ,619 11 ,579 1 ,604 6 ,968 3 ,672 13 ,681 1 ,845 137 ,050 32 8 ,382 4 ,736 16 ,162 2,,138 159 • 4 0 7 253 12 ,513 7 ,247 18 ,582 3 ,667 143, 514 325 9, 616 7,• 580 20- 440 3,.873 140 • 072 495 11 ,049 10 ,165 24 ,730 4 ,056 40 41 42 P r o f i t taxes payable Trade debt F o r e i g n direct inv. in U.S. 15 ,202 153 063 11 ,818 11 ,472 160 ,158 13 ,270 13 ,345 172 ,080 13 ,914 13 ,253 194 ,406 14 ,868 15 ,631 2 3 2 ,735 20:,556 16 ,717 170 ,510 25 , 144 14, 573 176, 673 27, 662 19 ,950 40 185 ,629 41 30 ,770 42 713 ,544 767 ,836 8 3 7 ,995 913 ,750 1022 ,021 1308 ,377 4 0 0 ,705 434 ,192 4 7 4 ,407 5 1 4 , 799 5 7 5 ,415 646,230 648,492 758,897 855,233 16,418 16,850 18,160 20,609 45.4% 50.1% 45.9% 54.3% 45.0% 49.7% 90.5% 84.4% 678,,205 639,,283 11,,623 4 5 4 ,386 173,,274 43 Net w o r t h 1458,• 521 1611 ,979 43 700 ,869 751,.871 8 1 3 ,543 44 678,436 499,098 684,337 787,807 45 26,044 28,797 32,307 37,298 46 44.7% 47.8% 45.7% 68.8% 39.5% 103.7% 36.5% 77.8% 35.3% 47 72.3% 48 90.5% 93.5% 66.3% 38.1% 46.9% 4 8 . 8 % 49 724 ,691 769 ,831 8 2 8 ,166 919 ,113 1046,,073 1111,,612 1211,, 128 50 684 ,117 13,,004 4 8 8 ,550 182 ,563 727 14 521 191 782,,786 14,,736 560,,625 207,,425 869,,215 14,,892 612,,359 241,,964 1056 ,647 14,,900 730, 757 310 ,990 1154, 649 14,,917 794, 641 345,,091 Memo: 44 Total corp. real estate M a r k e t value of e q u i t i e s , 45 including corp.farm equities (Net worth of corporate f a r m s , 46 from farm sector t a b l e ) 47 D e b t - n e t w o r t h ratio ( 2 7 / 4 3 ) 4 8 D e b t - e q u i t i e s ratio ( 2 7 / 4 5 ) R a t i o of m a r k e t value 49 to net w o r t h ( 4 5 / 4 3 ) T a n g i b l e s and net worth on h i s t o r i c a l cost basis: 50 Tangible assets 51 52 53 54 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 55 Land 56 Total a s s e t s 5 7 Net w o r t h • 322 ,663 ,246 ,413 992,,286 14, 950 673,• 618 303, 718 51 52 53 54 38,,922 4 0 ,574 4 2 ,509 45,,380 49,,898 53,,787 54,,965 56,,479 55 1030,,032 1094,,965 1176 ,539 1284,,377 1445,,923 1563,,567 1670,,127 1824,,021 56 525,,935 557,,574 5 9 9 ,401 652,> 664 709,,620 8 3 3 ,,412 918,,452 1017,,502 57 256,,109 274,,034 2 9 2 ,119 311,,364 336,,441 365, 689 390, 795 417,,454 58 61.6% 63.2% Memo: 5 8 Total c o r p . real e s t a t e 5 9 D e b t - n e t w o r t h ratio (27/57) D a t a are in m i l l i o n s of d o l l a r s . April 1990 Nonfinancial Corporate Business S e c t o r B a l a n c e S h e e t with T a n g i b l e A s s e t s at C u r r e n t Cost 3 5 Year-End Outstandings Year-End O u t s t a n d i n g s 1977 1978 1979 1980 1981 1982 1983 1984 Nonfinancial Corporate Business, Excluding Farms 1 2004,,344 2311,,049 2618 467 2 9 8 8 , 346 2992, 933 41,,979 2277,,016 673,,938 3507, 8 3 7 3107, 255 41, 249 2406,• 915 659 .091 3611, 178 3849,,783 T a n g i b l e a s s e t s 3186, 172 42,,920 2469,.044 674,,208 3385, 767 44,,918 2599,,950 740 ,899 2 3 4 5 1803,,382 30,,309 1356,,144 416,,929 2076,,158 33,.513 1560, 8 2 8 481,,817 2351, 5 4 5 36, 711 1755,.579 559, 2 5 5 6 200, 962 234,,891 266,,922 317- 632 369,,567 400,,582 425, 006 7 672, 704 780,,661 910,,165 1015,,422 1116 ,079 1141,,734 1256 8 1 3 8 9 10 11 12 13 14 15 16 143- 641 59, 2 0 7 29, 2 1 5 200 8, 256 8 • 742 10,• 026 3, 4 6 8 24,,527 162,,321 57,,698 31-,174 610 16,,229 16 ,661 11 ,538 3 ,658 24 ,753 170,,820 5 0 309 33,,377 3,,000 18 8 4 3 21,,804 13,,105 3,,687 26 ,695 196, 5 0 2 5 7 ,071 37 • 8 5 3 6 ,993 2 8 ,415 2 4 ,623 18 ,701 3 ,490 19 ,356 220 47 47 18 33 22 20 3 26 17 18 19 20 21 22 23 24 308 198 135 27 23 ,648 618 ,375 ,699 ,761 ,415 581 43 ,942 24 ,728 1 ,060 4 3 4 ,309 2 7 9 ,248 178 ,240 38 ,949 633 61 ,426 2 4 ,996 1 ,507 4 8 2 ,496 309 ,921 2 0 8 ,467 43 ,619 642 57 ,193 25 ,280 1 ,624 5 0 7 ,259 361 ,473 2 2 4 ,826 4 7 ,320 642 8 8 ,685 22 ,231 790 ,020 ,022 ,382 ,833 539 34 ,268 364 229 151 33 2670, 714 39, 5 2 7 2010, 371 620,,816 3362, 5 0 0 ,443 ,373 ,758 ,416 ,422 ,965 ,214 .470 ,825 464 ,016 ,045 , 625 ,372 ,062 ,837 ,593 ,674 ,066 ,816 301,,914 61,,943 70,,645 11,,153 48,,387 25,,680 38,,498 4,,201 41 ,407 326 74 74 16 48 20 42 4 44 ,254 ,070 ,177 ,452 ,347 ,030 714 90 ,361 28,,589 4 ,501 544 .409 377 ,400 215 ,934 53,,493 723 107 ,250 30 ,632 7 ,193 5 9 2 ,477 398 ,173 221 ,941 58 ,635 724 116 ,873 4867,,991 1 2 3 4 5 Land 6 1354 ,520 Total f i n a n c i a l a s s e t s 266 ,781 53,,252 59 ,029 19 ,031 42 , 143 22 ,553 30 ,500 3 ,536 36 ,737 25 3 492 354 213 50 (current c o s t ) Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 7 Liquid assets 8 C h e c k a b l e dep. 8 c u r r e n c y 9 Time d e p o s i t s 10 M o n e y m a r k e t fund s h a r e s 11 S e c u r i t y RPs 12 Foreign deposits 13 U.S. g o v e r n m e n t s e c u r i t i e s 14 Tax-exempt obligations 15 O p e n - m a r k e t paper 16 C o n s u m e r credit M u t u a l fund shares Trade credit Miscellaneous assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in s p o n s . a g e n c i e s Other 17 18 19 20 21 22 23 24 5 2 0 4 ,303 Total a s s e t s 25 1618,,180 1855,,859 T o t a l l i a b i l i t i e s 26 1043,,780 83, 8 9 7 423,,023 50,,316 5,,057 27, 5 9 7 17,,662 1216,,931 104,,439 469,, 152 52,,600 5 .056 25 ,823 21,,721 25 2 6 7 7 ,048 3091 ,710 3528 ,632 4 0 0 3 ,768 4 4 7 8 ,579 4649 ,571 26 8 9 8 ,163 1027 ,384 1157,,976 1289 ,481 1434 ,506 1486 ,264 27 28 29 30 31 32 33 638 ,630 17 ,377 299 ,491 106 ,444 6 ,778 31 ,974 67 ,692 706 ,098 25,,041 320 ,607 116 ,102 7 ,573 34 ,714 73 ,815 773 ,535 35,,028 337,,915 105,,901 7,,035 37,,197 61,,669 8 2 8 ,381 45 8 9 2 365 ,570 • 84,,977 5,,954 38,,648 4 0 ,375 925 59 388 80 4 37 38 ,405 ,323 ,331 ,495 ,544 ,408 ,543 966 ,106 74 ,466 406,,997 34,,790 5 ,056 30 ,766 - 1 ,,032 34 35 36 37 38 39 154 ,918 645 12 ,808 11 ,442 31 ,479 4 ,026 175 ,120 901 15 ,499 9 ,908 37 ,206 5 ,714 204 2 24 13 42 6 229 ,932 4,,199 28 ,026 17 ,076 44 ,333 8 ,376 2 6 0 478 13,,095 42,,722 21 ,448 49, 942 9,,571 314 ,598 15,,612 37,,614 20, 666 50, 512 10, 851 335, 192 18,•290 36,• 775 27, 641 58,,246 10,.400 384 ,108 31 ,339 58 4 9 0 30,,432 74 ,771 11,,600 Bank loans n . e . c . L o a n s from foreign C o m m e r c i a l paper A c c e p t a n c e liab. to banks N o n b a n k finance l o a n s U.S. g o v e r n m e n t l o a n s 34 35 36 37 38 39 40 41 42 17,,826 207, 112 34,,595 19,,871 258,,944 42,,471 20,,224 309 ,755 54,,462 30 ,305 347,,749 8 3 ,046 24,.016 376, 371 108,,714 14, 196 381,,285 124, 677 19, 053 418,,288 137,• 059 22 ,361 451 ,986 164 ,581 P r o f i t taxes p a y a b l e T r a d e debt F o r e i g n direct inv. in U.S. 40 41 42 43 1778 8 8 5 2064-.326 2370, 656 2 7 1 4 ,287 3044, 073 3163, 307 3249,,811 3348 ,444 Net w o r t h 44 897,644 1044,393 1158,954 1326,605 1505,697 1585,403 1639,527 1747,608 T o t a l corp. real e s t a t e 44 M a r k e t value of e q u i t i e s , 1617,733 including corp.farm equities (Net worth of c o r p o r a t e f a r m s , 48,037 from farm sector t a b l e ) 46 ,270 ,888 • 518 ,842 ,265 ,908 C r e d i t m a r k e t debt T a x - e x e m p t debt C o r p o r a t e bonds Mortgages Home m o r t g a g e s Multifamily Commercial 27 28 29 30 31 32 33 43 Memo: 45 748,002 773,143 933,373 1293,116 1214,845 1382,773 1638,730 46 40,783 48,104 55,580 61,177 60,125 56,827 55,755 47 48 35.9% 85.3% 34.2% 91.3% 32.6% 82.8% 30.5% 64.0% 30.4% 76.1% 30.5% 69.8% 32.1% 63.6% 49 42.0% 37.4% 39.3% 47.6% 39.9% 43.7% 50.4% 50 1334 ,403 1497,,745 1690 ,633 1879 ,332 2 0 8 6 ,898 2 2 0 6 ,488 2 3 3 9 ,285 51 52 53 54 1274 ,988 15,,069 8 7 6 ,462 383 ,457 1434 108 15 348 982,,063 436,,697 1623,,381 15 ,730 1110 ,306 4 9 7 ,345 1805 16 1241 547 2 0 0 5 ,222 16,,305 1392 ,792 5 9 6 ,125 2119 16 1525 577 3 6 . 3 % D e b t - n e t w o r t h ratio ( 2 7 / 4 3 ) 7 5 . 2 % D e b t - e q u i t i e s ratio ( 2 7 / 4 5 ) R a t i o of m a r k e t value 48.3% to net w o r t h ( 4 5 / 4 3 ) 45 47 48 49 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost b a s i s : ,510 ,054 ,496 ,960 ,370 ,718 ,173 ,479 2244 17 1639 587 ,497 ,117 ,909 ,471 50 2561,,120 T a n g i b l e a s s e t s 2457, 8 2 8 18,• 140 1789,• 575 650, 113 103,,292 Reproducible assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 51 52 53 54 Land 55 55 59,,415 63,,637 67 ,252 73 ,822 8 1 ,676 8 7 ,118 94 ,788 56 2007,,107 2 2 7 8 406 2600,,798 2 8 9 4 ,754 3202,,977 3348 ,222 3596,,098 3915,,640 Total a s s e t s 56 57 1108,,944 1251,,022 1442,,822 1605,,273 1768,,471 1861,,958 1977 ,918 2059,,781 Net w o r t h 57 58 447 ,426 4 8 6 ,864 5 3 7 037 596 ,196 668,,065 736,,086 790,,551 Memo: 859,,394 T o t a l corp. real e s t a t e 59.0% Debt-net worth ratio Data are in m i l l i o n s of d o l l a r s . (27/57) 58 59 A p r i l 1990 Nonfinancial Corporate Business 3 6 Nonfinancial Corporate Business S e c t o r B a l a n c e Sheet with T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings Year-End O u t s t a n d i n g s 1985 1986 1987 1988 1989 Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current c o s t ) 2 3 4 5 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 e q u i p m e n t Inventories 6 Land 7 Total f i n a n c i a l a s s e t s 3999,580 4159 ,005 3504,724 46,528 2704-974 753,222 3632 47 2835 749 -050 • 734 • 201 -115 4 3 8 4 ,929 4641 ,794 4 8 7 6 , 159 3831 51 2970 809 4064 51 3129 882 4272 54 3291 925 ,164 ,225 ,274 ,665 ,452 ,846 ,869 ,737 526 -955 5 5 3 ,765 5 7 7 ,342 604 ,016 1575 • 937 1687 ,810 1783 ,586 1862 ,980 353,596 94,379 80,292 12,817 58,346 18,508 39,030 4,902 45,322 4 2 9 291 114 -341 8 7 509 18 122 70 500 24 456 53 494 7 968 52 901 437 104 91 23 71 23 57 10 54 17 18 19 20 21 22 23 24 C o n s u m e r credit M u t u a l fund shares Trade credit M i s c e l l a n e o u s assets F o r e i g n direct i n v e s t m e n t Insurance r e c e i v a b l e s E q u i t y in spons. a g e n c i e s Other 32-302 12,519 634,203 411,797 237,671 63,739 831 109,556 32 15 650 448 262 67 409 673 423 141 353 893 913 116 982 34 ,804 12 ,815 716 ,863 486 • 296 306 ,688 78 , 781 1 ,289 99 538 ,032 ,246 ,591 ,945 ,329 ,699 ,044 ,532 , 64 6 472 119 99 28 79 11 63 12 57 ,004 ,955 569 ,648 ,538 ,597 •665 ,029 ,003 37,,441 12,,244 733 •470 528 •427 322, 8 7 7 77,•757 1,,295 126, 4 98 25 Total assets 5443,997 5 7 3 4 942 6072,,739 6425, 380 26 Total l i a b i l i t i e s 2042,727 2 2 8 5 784 2508,,645 1353,599 127,039 542,905 33,599 4,806 21 ,690 7,103 1555 8 1 4 117 138 664 181 61 406 6,.727 22,• 193 32,• 486 1711,,621 116,, 224 764,. 121 82,.043 7, 641 22,, 924 51, 478 Credit m a r k e t debt T a x - e x e m p t debt C o r p o r a t e bonds Mortgages Home m o r t g a g e s Multi family Commercial 6 494,856 Liquid a s s e t s C h e c k a b l e dep. & c u r r e n c y Time d e p o s i t s M o n e y m a r k e t fund s h a r e s S e c u r i t y RPs Foreign deposits U.S. g o v e r n m e n t s e c u r i t i e s Tax-exempt obligations O p e n - m a r k e t paper 27 28 29 30 31 32 33 2 3 4 5 1444,417 8 9 10 11 12 13 14 15 16 483 113 96 35 86 20 66 8 56 1 ,143 ,484 .696 ,963 ,572 ,428 .325 ,001 ,621 ,454 ,275 ,520 ,948 38 ,710 21 ,415 741 • 315 577,,968 355,,445 66 ,159 1,,307 155 ,057 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 23 24 6739,,139 25 2753, 169 3004,•429 26 1899, 4 3 3 116, 2 9 2 8 7 8 • 185 82, 941 7, 715 23, 909 51 ,317 2 0 9 6 • 444 115,, 151 992,•341 89, 065 5, 4 7 3 24, 8 3 9 58, 753 27 28 29 30 31 32 33 34 35 36 37 38 39 Bank l o a n s n.e.c. L o a n s from foreign C o m m e r c i a l paper A c c e p t a n c e liab. to banks N o n b a n k f i n a n c e loans U.S. g o v e r n m e n t loans 414,992 32,881 72,207 28,323 87,423 14,230 464, 686 43, 948 62, 8 6 5 28, 129 98, 711 14, 750 469, 303 45, 8 4 5 73, 768 33, 229 115, 633 11, 455 501, 8 5 5 56, 8 5 6 85, 364 32, 5 8 7 135, 4 4 6 9, 907 529, 774 70, 123 107- 112 37, 166 14b, 062 9, 650 34 35 36 37 38 39 40 41 42 P r o f i t taxes payable T r a d e debt F o r e i g n direct inv. in U.S. 18,490 486,025 184,613 20, 4 4 0 489, 118 220, 4 1 2 18,.101 507, 135 271, 788 14, 5 9 4 510, 291 328, 851 14, 607 504, 8 6 7 388, 511 40 41 42 3401,270 3449, 158 3564, 094 3672, 211 3734, 710 43 1823,874 1891, 191 1987, 312 2 0 6 2 , 309 2167, 525 44 2022,648 2 3 3 2 , 629 2 3 4 4 , 029 2 5 7 6 , 651 3151, 351 45 41,930 38, 944 40, 606 4 3 , 494 4 7 , 966 39.7% 66.9% 45. 1% 66.6% 48.0% 73.0% 51 .7% 73:.7% 56.. 1% 66,.5% 47 48 59.4% 67 .6% 65.7% 701.1% 84i.3% 49 43 Net w o r t h Memo: 44 Total corp. real estate M a r k e t value of e q u i t i e s , including corp.farm equities 45 (Net w o r t h of corporate f a r m s , 46 from farm sector t a b l e ) 4 7 D e b t - n e t worth ratio (27/43 ) 4 8 D e b t - e q u i t i e s ratio ( 2 7 / 4 5 ) Ratio of market value to net w o r t h ( 4 5 / 4 3 ) 49 46 T a n g i b l e s and net worth on h i s t o r i c a l cost basis: 50 Tangible assets 51 52 53 54 R e p r o d u c i b l e assets Residential structures N o n r e s . plant S e q u i p m e n t Inventories 55 Land 2739,915 2 8 7 7 , 780 3 0 5 6 , 769 3265, 5 7 4 3455, 5 2 8 50 2624-946 19,159 1944,097 661,690 2756- 737 2 0 , 254 2 0 7 7 , 376 6 5 9 , 107 2 9 2 7 , 253 2 1 , 386 2 1 9 4 , 239 711, 628 3126, 992 22, 2 8 8 2 3 2 6 , 079 778, 625 3307, 245 23, 210 2458, 299 8 2 5 , 736 51 52 53 54 114,969 121, 043 129, 516 138, 5 8 2 148, 2 8 3 55 5 6 Total assets 4184,332 4 4 5 3 , 717 4 7 4 4 , 579 5 0 4 9 , 160 5 3 1 8 , 508 56 5 7 Net w o r t h 2141,605 2 1 6 7 , 933 2 2 3 5 , 934 2 2 9 5 , 991 2 3 1 4 , 079 57 936,533 9 9 3 , 304 1041, 5 0 0 1093, 361 1144, 777 58 63.2% 71 .7% 76 .5% 8 2 .7% 90 .5% 59 Memo: 5 8 Total corp. real estate 59 D e b t - n e t w o r t h ratio (27/57) Data are in m i l l i o n s of d o l l a r s . April 1990 Private Financial Institutions Private Financial Institutions S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End O u t s t a n d i n g s 1945 1946 1947 1948 Private Financial 1949 1950 1951 1952 4,452 Tangible assets N o n r e s . plant 8 e q u i p m e n t 3,919 Land 533 Institutions 1 2 3 1,936 1,727 209 2,484 2,222 262 3,059 2,724 335 3,315 2,947 368 3,401 3,020 381 3,785 3,351 434 4,270 3,770 500 4 237,087 234,562 246,689 257,296 271,794 292,696 313,254 339,966 4,041 68 4,729 74 5,105 64 5,249 56 5,490 50 6,078 53 6,692 129 6,894 170 67 73 63 55 49 53 128 169 - - - - - - 5 6 7 8 10 3 7 Year-End Outstandings - - 11,866 287,569 95,732 4,542 15,776 42,874 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 11 12 13 14 15 16 11 12 13 14 15 16 4,770 199,348 130,707 3,560 6,250 17,905 4,923 200,056 116,043 3,990 6,615 20,041 5,271 210,152 108,846 4,059 7,587 23,676 5,559 217,409 99,704 4,920 8,628 28,481 8,065 231,749 103,193 4,952 10,173 31,949 9,412 248,134 96,672 4,604 12,506 34,274 10,257 264,264 93,517 4,285 14,125 37,918 17 18 19 20 21 22 21,154 3,401 11,347 239 4,631 154 26,167 5,724 16,321 418 4,510 227 32,045 8,340 20,523 499 4,316 261 38,043 10-499 21,844 485 4,546 259 43,178 12,931 20,116 499 4,486 272 52,164 16,209 25,750 686 4,875 394 59,934 16,879 30,805 1,025 5,286 490 67,517 20,801 32,719 1,276 5,840 492 Mortgages C o n s u m e r credit Bank loans n.e.c. O p e n - m a r k e t paper Other loans C u s t . liab. on a c c e p t a n c e s 17 18 19 20 21 22 23 24 25 26 8,075 17,784 361 2,573 3,751 18,185 4 78 2,293 2,688 20-115 578 2,653 2,915 22,457 652 2,944 3,658 18,578 723 3,432 4,453 19,855 740 3,918 4,132 22,753 850 4,049 4,865 22,703 948 4,782 S e c u r i t y credit Vault cash 8 comm. bank res. T r a d e credit M i s c e l l a n e o u s finan. a s s e t s 23 24 25 26 27 239,023 237,046 249,748 260,611 275,195 296,481 317,524 344,418 28 218,555 214,820 225,984 235,695 248,828 267,497 286,945 311,652 Total liabilities 28 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s Fed. funds 8 s e c u r i t y R P s 2 3 3 3 3: Life insurance reserves P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 3' 3! 3i M u t u a l fund s h a r e s Credit market instruments C o r p o r a t e bonds Mortgages Bank loans n . e . c . O p e n - m a r k e t paper O t h e r loans 3! 3( 3' 41 4 4 4: 4< 4! 4 4 29 30 31 32 33 101,659 50,270 87,835 56,617 90,064 60,032 89,488 62,244 90,329 64,861 95,924 67,322 102,743 72,303 107,902 80,167 3,231 29 3,419 17 3,599 -82 3,930 -95 4,294 -82 4,576 -61 4,546 7 4,874 22 34 35 36 35,967 9,352 2,099 38,602 10,244 1,505 41,147 11,674 1,644 43,777 13,307 1,761 46,444 15,092 2,133 49,080 17,511 3,289 51,635 20,367 3,376 54,480 24,184 3,420 37 38 39 40 41 42 43 1,264 989 195 1,297 1,754 356 1,412 2,515 548 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 2,280 369 220 205 661 436 301 942 593 432 1,367 770 509 1,735 951 427 2,697 1,112 810 2,460 1,559 911 3,139 1,915 864 44 45 46 47 3,976 2,366 1,582 2,068 2,588 2,960 2,681 3,056 9,276 457 10,707 348 12,049 495 13,586 708 14,923 868 16,330 1,098 17,755 1,434 19,984 S e c u r i t y debt T r a d e debt Taxes payable Miscellaneous liabilities 48 49 50 20,468 16,908 3,560 22,226 17,305 4,921 23,764 17,862 5,902 24,916 18,418 6,498 26,367 19,697 6,670 28,984 21,213 7,771 30,579 22,251 8,328 32,766 24,091 8,675 A p p r o x i m a t e share stock cos. 4 A p p r o x i m a t e share other cos. 5 51 52 29,024 1,703 25,492 2,133 21,694 2,566 21,679 2,668 24,017 2,624 24,834 2,845 26,879 3,134 30,669 3,199 Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 Private Financial Private Financial Institutions Institutions S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t 3 8 Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 Private Financial 1 Tangible assets N o n r e s . plant 8 e q u i p m e n t 2 3 Land 4 Total financial assets 5 6 7 8 9 10 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund shares L a r g e time deposits F e d . f u n d s 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 1957 1958 1959 1960 Institutions 5 !174 4, 441 733 5, 997 5 113 884 6,,928 5,,841 1,,087 7,,591 6, 2 9 4 1,,297 8,,160 6,,645 1,,515 8 ,904 7 ,172 1 ,732 9 ,555 7,,607 1,,948 362 ,566 394,,451 427, 753 4 5 3 ,283 477, 235 523,,708 559 ,123 597,,775 4 7 ,220 205 7,,573 283 7,,911 348 7,,978 431 8, 2 0 2 500 8,,877 668 8 ,636 724 9,,062 721 205 283 348 431 499 667 724 721 5 6 7 8 9 10 12,,941 307 ,431 96 ,182 6 ,044 17,,841 47 ,602 17,,728 332,,683 101,,548 5 ,865 21,,260 51,,873 24,,144 357,,182 93,,931 5,,253 22,,825 54,,857 25 379 89 4 24 58 25,,530 402,•523 88,,839 5,•197 26 4 4 9 65,,157 36 ,361 435,,206 97 ,785 5 ,713 30 ,508 70 ,687 42 463 90 4 32 74 ,634 ,844 ,983 ,795 ,791 ,907 46 ,239 497 ,744 92 ,783 5 ,513 34,,835 79,,545 11 12 13 14 15 16 100,,739 31,,706 39,,235 942 7,,052 642 112 ,799 34 ,872 44 ,870 1 ,007 7 ,365 967 121,,385 37, 4 4 5 46,,746 1,.319 8,,679 1,,307 133 ,645 37 ,567 4 7 ,263 1 ,797 9 ,047 1,,194 148 ,301 43,,670 53,,879 2,,468 10,,899 1,,151 161,,284 48 423 57,,509 2,.405 13,,420 2,,027 17 18 19 20 21 22 8 ,023 ,320 1 ,291 7 ,612 7,,726 22,,369 1 451 8,,435 9,,172 21 .753 1 •599 9,,405 9 ,414 21 ,186 1 ,782 10 ,179 9 615 20,,427 1,,934 11,,312 23 24 25 26 41,793 4 , 184 609 17 18 19 20 21 22 Mortgages C o n s u m e r credit Bank l o a n s n.e.c. O p e n - m a r k e t paper O t h e r loans C u s t . liab. on a c c e p t a n c e s 75 ,806 24 ,507 31 ,545 1., 165 6 ,166 573 86,,499 25,,510 31,,723 1,,147 6,,385 873 23 24 25 26 S e c u r i t y credit V a u l t cash 8 comm. bank res. T r a d e credit M i s c e l l a n e o u s finan. assets 5 • 729 22,,672 1,,006 5 ,157 7,,526 21 ,345 1,,064 5 ,966 8 ,645 21 • 687 1,, 156 6 ,332 ,946 ,251 ,716 ,832 , 140 ,683 1 2 3 27 T o t a l a s s e t s 367 ,359 399 ,625 433,,750 4 6 0 ,211 484 ,826 531,,868 568 ,027 607 ,330 27 2 8 Total l i a b i l i t i e s 332 ,626 359 ,921 390 ,042 4 1 3 ,736 4 3 7 ,348 478,,920 511 ,408 5 4 7 ,071 28 108 • 025 8 8 , 446 112 ,538 97 ,808 114 ,678 106 ,581 116 ,493 116 ,213 115 8 4 1 128 ,299 121 ,409 142 ,572 122 ,979 154 ,096 5 ,824 37 7 ,011 -20 6 ,693 -205 6 ,489 -210 6 ,701 -313 9 ,290 -252 7 ,552 -28 125 ,022 29 165,,818 30 31 11 ,119 32 -262 33 5 7 ,388 2 8 ,538 3 ,251 60 ,389 33 ,295 3 ,142 63 ,459 4 0 ,498 4 ,290 66 ,626 4 5 ,679 4 ,655 69,,277 51,,332 4 ,159 72 ,294 60 ,436 4 ,264 75 ,606 69 ,246 5 ,144 78 ,758 34 76 ,728 35 5 ,780 36 17 ,026 37 2 2 ,985 38 9 ,112 39 40 6 ,117 41 5 ,775 4 2 1 ,981 43 29 30 31 32 33 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 security RPs 34 35 36 Life insurance reserves P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 37 38 39 40 41 42 43 M u t u a l fund shares Credit market instruments C o r p o r a t e bonds Mortgages Bank loans n.e.c. O p e n - m a r k e t paper O t h e r loans 4 ,146 9 ,899 3 ,681 6 ,109 10 ,094 3 ,604 7 ,838 13 ,943 4 ,528 9 ,046 14 ,796 5 ,609 8 ,714 16 ,376 6 ,354 13 ,241 15 ,655 6 ,556 15 ,818 19 ,358 7 ,733 3 ,044 2 ,222 952 3 ,250 2 ,373 867 5 ,611 2 ,387 1 ,417 5 ,110 2 ,849 1 ,228 5 ,113 3 ,644 1 ,265 4 ,406 3 ,395 1 ,298 5 ,441 4 ,050 2 ,134 44 45 46 47 S e c u r i t y debt T r a d e debt Taxes payable Miscellaneous liabilities 3 ,445 4 ,450 4 ,746 4 ,158 4 ,287 4 ,848 4 ,887 1 ,903 21 ,724 1 ,634 23 ,471 1 ,260 26 ,261 1 ,452 2 8 ,339 ,635 31,,040 1 ,698 33 ,465 1 ,387 35 ,363 5 ,382 44 45 2 ,364 46 36 ,351 4 7 34 ,733 2 5 ,211 9 ,522 39 ,704 29,,026 10 ,678 43 ,708 31 ,324 12 ,384 4 6 ,475 33 ,001 13 ,474 47,,478 33,,118 14,,360 52,,948 37 ,028 15 ,920 56 ,619 39 ,635 16 ,984 60 ,259 48 41 ,923 49 18 ,336 5 0 2 8 ,754 3 ,376 33 ,991 3 ,666 37 ,562 4 ,284 37 ,154 4 ,968 45 ,586 5,,481 5 9 ,559 5 ,970 73 ,182 6 ,544 75 ,874 51 7 ,075 52 4 8 Net w o r t h A p p r o x i m a t e share stock cos. 49 A p p r o x i m a t e share other cos. 50 Memo: 51 M a r k e t value of e q u i t i e s 5 2 T o t a l fin. inst. real estate Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 Private Financial Private Financial Institutions Institutions 39 S e c t o r B a l a n c e S h e e t s w i t h T a n g i b l e A s s e t s at C u r r e n t C o s t Year-End Outstandings Year-End O u t s t a n d i n g s 1961 1962 1963 1964 Private Financial 1965 1966 1967 1 2 3 10, 284 8 , 065 2, 2 1 9 11* 338 8,8 9 8 2, 4 4 0 12, 2 3 7 9, 615 2, 622 13, 727 10, 8 4 3 2, 8 8 4 15, 5 7 6 12, 4 6 0 3,-116 17, 4 7 7 14, 188 3, 2 8 9 19, 185 15, 935 3, 2 5 0 4 657 14 8 3 706, 358 771, 717 8 4 6 , 661 927,,615 975, 481 1077, 169 11,,491 1,,118 11,,876 1,,126 11, 491 1, 037 11, 8 6 3 1,,133 1.,118 1,,126 1,,258 1,,887 11, 189 1 =023 5 6 7 8 9 10 10, 2 1 2 877 11. 141 960 877 959 - - 11 12 13 14 15 16 61,, 385 5 3 7 ,083 99 ,057 6 ,364 38 ,685 8 4 ,852 58, 089 584, 8 1 5 100, 5 4 0 8 ,225 44,,443 90 ,811 70,.821 634,,368 97,,066 8 • 660 48 ,825 96,,799 83,,861 692 ,364 98 ,411 9,,501 52,,403 103 ,860 17 18 19 20 21 177 ,338 5 0 ,688 60 ,584 2 ,707 14 ,125 2 ,683 197 ,873 55 ,639 66 ,697 3 , 141 14 ,796 2:,650 2 2 3 ,583 62 ,972 73 ,771 3 ,170 16 ,632 2 ,890 249 71 82 3 18 3 23 24 25 26 11 ,772 21 ,076 1 ,993 12 ,208 12 ,423 21 ,973 2:,201 13 ,797 27 667 ,767 28 29 30 31 32 33 1,, 023 - - - • 213 ,292 ,015 ,577 ,707 ,385 1968 Institutions 99 754 94 10 57 111 ,136 ,524 ,313 ,428 ,099 ,594 2 7 4 ,728 8 0 ,223 98 ,026 3 ,511 21 ,210 3 ,392 ,263 ,298 ,649 ,617 94,• 8 1 5 802,,497 91,,083 11,,823 5 9 ,718 120,,825 - 1185, 2 7 8 Total f i n a n c i a l a s s e t s 12, 5 0 3 1,, 053 2, 096 107 - 122, 8 0 8 865,,673 95 ,284 15,,049 70 ,160 133 ,249 145, 755 940,-277 97,,987 17,,796 79,,689 142,,281 1 2 3 4 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s Fed. f u n d s 8 s e c u r i t y RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 11 12 13 14 15 16 292 86 107 5 23 3 ,558 ,037 ,803 ,324 ,723 ,603 310 91 114 7 24 4 ,681 ,014 ,157 ,446 ,316 ,317 333,,355 101,,676 127 ,880 7 ,389 27,,796 4,,428 Mortgages C o n s u m e r credit Bank loans n . e . c . O p e n - m a r k e t paper Other loans C u s t . liab. on a c c e p t a n c e s 17 18 19 20 21 22 15 25 2 20 ,824 ,244 ,898 ,417 20 27 3 23 ,498 ,023 ,176 ,108 24,,659 29,,054 3 .476 26,,298 S e c u r i t y credit V a u l t cash 8 comm. bank res. T r a d e credit M i s c e l l a n e o u s finan. a s s e t s 23 24 25 26 ,083 ,308 ,332 ,570 15 ,045 ,382 2 ,484 16 ,798 717 ,696 783 ,954 8 6 0 ,388 943 ,191 992 ,958 1096 ,354 1207,,402 Total a s s e t s 27 600 ,370 647 ,290 709 ,738 779 ,874 8 5 7 ,311 905 4 1 8 1001,,825 1104,,725 Total l i a b i l i t i e s 28 130 ,140 184 ,107 134 i ,711 2 0 9 ,910 136 ,925 2 3 5 ,499 143 ,641 261 ,152 148 ,953 2 8 8 ,408 150 ,759 306,,429 162 ,896 341 ,129 176,,210 367,,734 13 ,569 14 16 ,408 63 2 0 ,353 26 25 ,119 540 31 ,033 1 ,749 33,,356 1,,674 39 ,269 1 ,659 46 ,009 2,,586 34 35 36 8 2 ,112 8 8 ,649 7 ,010 8 5 ,754 93 ,639 6 ,849 8 9 ,860 106 041 6 ,844 94 ,172 120 ,821 6 ,864 98 ,863 135 ,770 6 ,794 103 ,450 144 , 150 10,,552 108 ,335 165 ,020 11 ,000 113 ,138 185,,427 14 ,976 37 38 39 40 41 42 43 2 2 ,875 24 ,869 9 ,262 21 ,271 27 ,943 9 ,222 25 ,214 33 ,472 10 ,530 2 9 ,116 38 ,847 12 ,834 35 ,220 45 ,267 15 ,051 34,,829 49 072 15,,275 44 ,307 4 7 ,968 15 ,954 6 ,643 6 ,302 2 ,662 7 ,764 7 ,478 3 .479 9 ,417 8 ,741 4 ,784 9 ,952 10 ,736 5 ,325 12 ,290 11 ,929 5 ,997 11,,200 15,,662 6 ,935 44 45 46 47 6 ,256 7 ,066 7 ,739 8 ,377 8 ,737 1 ,392 39 ,377 1 ,947 41 ,729 1 ,548 46 ,217 1 ,759 49 ,466 1 ,786 54 ,731 48 49 50 67 ,397 4 7 ,345 2 0 ,052 70 ,406 4 8 ,445 21 ,961 74 ,216 51 ,397 22 ,819 8 0 ,514 55 ,546 24 ,968 51 52 117 ,925 7 ,767 90 ,529 8 ,617 110 ,586 9 ,345 118 ,184 10 ,376 15 21 2 14 15 23 2 18 - 22, 124 T a n g i b l e a s s e t s Nonres. plant 8 equipment 18, 753 Land 3, 371 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y market fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y RPs 29 30 31 32 33 Life insurance reserves P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 34 35 36 9 ,217 18 ,411 4 ,386 51 ,232 53,,946 16 ,400 200 10 .691 21 ,396 5 ,259 M u t u a l fund s h a r e s Credit market instruments C o r p o r a t e bonds Mortgages Bank loans n . e . c . O p e n - m a r k e t paper Other loans 37 38 39 40 41 42 43 9 ,576 12 ,745 16,,199 1,,741 59,,830 1 ,548 65 ,949 1 ,708 75,,560 S e c u r i t y debt T r a d e debt T a x e s payable Miscellaneous liabilities 44 45 46 47 8 5 ,880 5 7 ,713 2 8 ,167 8 7 ,540 5 7 ,781 29 ,759 94 ,529 61 ,764 32 ,765 154 ,980 11 ,537 139 ,277 12,,686 167 ,022 13 ,250 102,,677 Net w o r t h 48 66 ,378 A p p r o x i m a t e share stock cos. 49 36 ,299 A p p r o x i m a t e share other cos. 50 Memo: D a t a are in m i l l i o n s of d o l l a r s . 2 3 8 ,394 Market value of e q u i t i e s 14 ,995 Total fin. inst. real estate 51 52 April 1990 Private Financial Private Financial Institutions 40 Institutions S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End O u t s t a n d i n g s Yeai—End Outstandings Private Financial 1 Tangible assets 2 N o n r e s . plant & e q u i p m e n t 3 Land 4 Total f i n a n c i a l a s s e t s 5 6 7 8 9 10 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time & s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y RPs Foreign deposits 11 12 13 14 15 16 Corporate equities C r e d i t market i n s t r u m e n t s U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 1975 1976 Institutions 27 ,821 24 ,097 3 ,724 31 ,445 27 ,538 3 ,907 34 ,772 30 .677 4 ,095 40,,124 35 778 4 ,346 49 ,804 4 4 ,950 4 ,854 54,,669 50,>140 4,,529 61 ,083 56 ,408 4 ,675 1 2 3 1240 ,655 1339 ,942 1512 ,243 1743 ,127 1896 ,892 2 0 0 5 ,909 2240,,163 2501,,893 4 12 ,063 832 12 ,765 ,040 13 ,792 1 ,492 15 ,746 1 ,805 16 455 1,,611 17 ,101 1 ,895 19,,011 2,, 124 20 ,005 2 ,073 5 6 1 ,797 336 2 ,526 442 4 ,269 1 ,168 6 ,136 1 ,667 7 ,083 3 ,709 12 ,689 6 ,107 21 ,909 5 ,059 20 ,005 5 ,516 8 9 141, 746 999, 233 8 4 , 549 19, 421 8 1 , 238 150, 735 151 ,178 1077, 106 91, 5 3 5 26, 177 93, 798 165, 305 196, 720 1185. 5 7 2 90, 779 34, 266 110, 375 180, 266 238, 903 1339, 236 93,,696 44, 8 5 8 122, 126 197,,437 206, 514 1510, 8 7 8 83, 799 57- 396 131 ,• 457 208,• 255 160- 149 1652- 327 82, 8 5 6 65, 526 138, 595 223,.853 218, 956 1782, 096 125- 304 76 595 146,,332 254 , ,888 253, 735 1985, 517 164, 212 85, 626 159, 448 283, 441 11 12 13 14 15 16 375, 4 3 9 115, 4 9 5 .576 151 , 12- 8 4 6 37, 8 7 7 7, 058 416- 425 128, 691 163, 017 13, 642 40, 2 2 2 7, 8 8 9 476, 724 147,,121 189, 019 15,,992 45, 365 6,,898 542, 307 170- 287 237, 8 0 9 18,. 153 52,• 523 8, 8 9 2 580,,302 178,• 8 9 6 278, 672 25,• 118 60,• 025 18 4 8 4 614,•250 183, 666 265,.227 31 ,760 65. 347 18, 727 677,• 171 204- 452 271, 904 41 •446 75, 294 22- 523 23, 5 2 5 35, 329 4,,661 45, 715 32,,056 34,,295 5 ,842 67,441 24,,300 37,,748 6, 4 8 5 82,, 109 20, 546 37,• 483 7, 020 90, 5 9 2 23 .634 38 304 7 668 121,,402 34,• 16 6 23 37, 279 24 8- 8 7 8 25 134, 719 26 2 4 .931 21 , 340 3,,591 17 18 19 20 21 22 Mortgages C o n s u m e r credit Bank loans n . e . c . O p e n - m a r k e t paper O t h e r loans C u s t . liab. on a c c e p t a n c e s 355, 063 111, 5 9 2 145, 151 10, 749 35, 284 5, 451 23 24 25 26 S e c u r i t y credit Vault cash 8 comm. bank res. T r a d e credit M i s c e l l a n e o u s finan. assets 20,.021 29, 405 3,.898 31,,324 20, 174 31,,197 4, 370 39,, 144 17 18 19 20 21 22 2 7 Total a s s e t s 1265,,586 1367,,763 1543,,688 1777 ,899 1937,,016 2055.• 713 ,832 2294 • 2562,,976 27 28 Total l i a b i l i t i e s 1160,,689 1258 ,407 1423,,088 1642 ,539 1788 ,488 1907 ,385 2143 ,179 2 3 9 0 ,378 28 190 ,202 4 1 2 ,241 203 •402 4 8 0 ,509 2 2 3 ,190 5 5 0 ,038 126 ,021 2 7 416 236 087 626 ,798 2.,379 167 ,087 30 ,495 244 ,045 724 ,657 3 ,696 158 . 153 32,,914 258 265 8 4 6 074 3,,686 144, 277 49 086 2 3 6 . 121 5 8 9 ,205 29 30 31 32 33 29 30 31 32 33 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y RPs 180,,864 381,,736 30 ,485 8 ,707 54 ,692 4 ,650 68 ,115 8 ,666 34 35 36 Life i n s u r a n c e r e s e r v e s P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 118 ,110 194,,623 2 2 ,241 123 ,345 213 ,291 17 ,277 129 ,626 2 4 7 ,524 11 ,925 136 ,349 2 9 7 ,948 10 ,730 143 ,522 302 ,483 4 ,887 150 ,528 307 ,089 4 ,591 .158 ,474 402 ,163 - 7 ,,947 167 ,073 34 ,039 35 461 , - 1 5 ,963 36 37 38 39 40 41 42 43 M u t u a l fund shares Credit market instruments C o r p o r a t e bonds Mortgages Bank loans n . e . c . O p e n - m a r k e t paper Other loans 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 55 ,446 81 ,419 25 ,906 680 13 050 33 8 4 7 7 ,936 58 ,926 96 ,332 32 ,953 1 ,160 19 ,520 34 ,720 7 ,979 4 6 ,635 123 ,449 37 ,393 1 ,480 2 7 ,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 44 45 46 47 S e c u r i t y debt T r a d e debt Taxes payable Miscellaneous liabilities 13 ,173 14 ,153 15 ,299 19 ,502 16 ,075 13 , 150 16 ,034 1 ,894 90 ,462 2 ,479 102 ,510 2 ,443 118 ,714 2 ,450 149 ,001 2 ,608 170 ,066 2 ,693 180 ,651 2 ,437 213 ,780 23 ,385 44 45 2 ,960 46 244 ,393 47 4 8 Net w o r t h 49 A p p r o x i m a t e share stock cos. 50 A p p r o x i m a t e share other cos. 104 ,897 69 ,635 35 ,262 109 ,356 73 ,362 35 ,994 120 ,600 79 ,257 41 ,343 135 ,360 8 9 ,238 4 6 ,122 148 ,528 100 945 47 ,583 148 ,328 97 ,921 5 0 ,407 151 ,653 99 ,650 52 ,003 172 ,598 48 113 ,387 49 59 ,211 50 51 Market value of e q u i t i e s 5 2 T o t a l fin. inst. real estate 2 1 3 ,170 16 • 8 9 2 204 ,308 18 ,621 2 3 7 ,203 2 0 ,896 2 7 2 ,367 2 2 ,709 2 1 2 ,964 25 ,039 133 ,602 29 ,122 155 ,563 29 ,690 208 ,193 51 31 ,387 52 Data are in m i l l i o n s of d o l l a r s . 8 6 ,914 11 , 159 37 38 39 40 41 42 43 April 1990 Private F i n a n c i a l Private Financial Institutions Institutions S e c t o r B a l a n c e S h e e t s with Tangible A s s e t s at C u r r e n t C o s t 4-1 Year-End O u t s t a n d i n g s Year-End O u t s t a n d i n g s 1977 1978 1979 1980 Private Financial 1981 1982 1983 1984 Institutions 155, 041 T a n g i b l e a s s e t s N o n r e s . plant 8 equipment 145, 668 Land 9, 373 1 2 3 69, 038 64, 100 4 , 938 8 2 , 312 76, 641 5 , 671 92, 0 9 8 8 6 , 374 5 , 724 105- 8 3 7 99, 350 6, 4 8 7 120, 073 112, 741 7, 332 129, 2 0 2 121, 513 7, 689 136, 757 128, 5 8 0 8 , 177 4 2788,533 3 1 8 9 , 039 3 5 9 7 , 157 4 0 3 2 , 091 4 4 5 4 , 786 4916, 193 5 5 0 3 , 199 5 6 7 8 9 10 21,404 2,517 244 2 4 , 521 8 , 242 14 2 4 , 645 1, 766 762 35, 2 8 0 9, 4 8 2 470 27, 318 2 , 121 2, 182 48, 082 14, 4 3 4 5 , 109 30, 5 9 7 2, 8 5 0 4, 491 61, 604 18, 717 6, 769 33, 678 3, 231 12. 122 8 4 , 038 33, 8 3 3 18, 8 4 6 41, 136 5, 699 11, 367 102, 771 44, 305 23,,759 42, 370 7, 313 9, 8 9 0 97, 525 53, 576 21, 911 42, 638 6, 940 15, 093 97, 320 71, 608 21, 213 11 12 13 14 15 16 2 4 6 , 107 2 2 4 1 , 708 168, 526 101, 287 182, 427 316, 113 3 2 4 , 991 2855, 284 164, 8 9 2 146, 076 2 2 9 , 035 379, 5 6 7 404, 614 3142, 5 4 8 202, 213 178, 908 252, 915 420,,112 394, 616 3471, 4 1 6 247, 028 604 265,,051 444, 584 4 7 8 ,306 3721,,753 322,,068 283,,659 286,,774 480,,486 611,,974 4115,,001 388 627 353,,251 301,,717 523,,028 615- 638 4699, 5 6 8 469,.659 395, 708 325, 791 596,,683 ,239 ,004 ,947 ,343 ,077 ,790 1092,,163 342 ,607 509,,299 148 ,408 148 ,588 51 ,084 1084 358 526 165 153 58 ,958 ,973 ,861 ,170 ,985 ,819 1181,,437 403,,935 5 5 6 ,630 170 , 150 170 ,554 65 , 672 1328,• 494 483,,145 613,,406 213,.203 204,,047 69,,432 52 46 20 368 ,006 ,021 ,242 ,828 17 18 19 20 21 22 773, 2 4 0 240- 794 300, 725 42, 429 90,• 513 25,, 654 23 24 25 26 38 40 10 154 ,419 ,792 ,176 ,389 2 8 0 , 918 2 5 4 4 , 561 161, 074 122, 008 2 0 8 , 659 353,• 359 8 8 0 ,, 5 2 9 2 8 4 326 359,,448 45 • 663 104 ,557 2 4 ,938 38 46 11 194 978,• 8 8 9 323,,580 4 0 9 ,711 71 ,715 119 ,354 32 ,465 1042 326 456 93 130 39 ,170 ,693 ,656 ,636 37 ,612 4 8 ,280 13 ,591 2 1 8 ,153 45 ,661 47 ,263 15 ,575 251 ,402 49 43 18 291 ,232 ,851 ,117 ,806 62 42 22 416 ,838 ,442 ,239 ,120 6231, 739 Total f i n a n c i a l a s s e t s 66 2 8 9 46 ,057 25.,000 524,,375 5 6 7 8 9 10 Corporate equities Credit market i n s t r u m e n t s U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s State 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 11 12 13 14 15 16 Mortgages C o n s u m e r credit Bank loans n.e.c. O p e n - m a r k e t paper Other loans C u s t . liab. on a c c e p t a n c e s 17 18 19 20 21 22 S e c u r i t y credit V a u l t cash 8 comm. bank res. Trade credit M i s c e l l a n e o u s finan. a s s e t s 23 24 25 26 2857 ,571 3271 ,351 3689 ,255 4 1 3 7 ,928 4 5 7 4 ,859 5 0 4 5 ,395 5 6 3 9 ,956 6386 ,780 T o t a l a s s e t s 28 2 6 6 9 ,678 3048 ,510 3 4 3 0 ,299 3837 ,170 4265 ,203 4719 ,923 5 2 8 9 ,982 5 9 7 5 ,867 T o t a l l i a b i l i t i e s 29 30 31 32 33 283 ,729 940 ,587 3 ,887 172 ,579 56 ,654 310 ,131 1005 ,465 10 ,808 227 ,577 8 0 ,005 337 1065 45 256 96 350 1147 76 316 119 367 1195 186 378 149 394 1334 219 395 181 422 1550 179 382 194 459 1701 233 469 234 34 35 36 176 ,386 507 ,452 - 1 9 ,198 187 ,257 601 ,737 - 8 ,284 197 ,675 699 ,396 9 ,425 2 0 7 ,364 8 3 9 ,642 - 2 2 ,544 216 ,308 910 ,736 - 6 8 ,927 37 38 39 40 41 42 43 45 ,490 188 ,217 65 ,837 2 ,428 24 ,645 75 ,134 20 ,173 46 ,049 223 ,825 73 , 686 1 ,960 26 ,432 8 9 .077 32 ,670 51 ,788 265 ,776 79 , 148 1 • 950 26 ,926 115 ,914 41 ,838 61 ,808 2 8 6 ,416 8 0 ,765 1 ,910 2 5 ,939 128 ,839 4 8 ,963 59 ,841 341 ,774 8 6 ,005 1 ,930 27 ,126 161 ,519 65 ,194 44 45 46 47 25 ,297 25 ,644 26 ,712 33 ,405 36 ,496 39 ,534 3 ,884 284 ,714 4 ,839 333 ,457 4 ,986 373 ,157 3 ,662 416 ,272 1 ,951 4 9 0 ,862 2 ,071 5 0 3 ,438 48 49 50 187 ,893 118 , 187 69 ,706 2 2 2 ,841 129 ,997 92 ,844 2 5 8 ,956 154 ,341 104 ,615 300 ,758 185 ,577 115 ,181 309 ,656 192 ,942 116 ,714 51 52 191 ,898 33 ,985 198 ,157 4 0 ,040 231 ,327 41 ,502 259 ,984 45 ,801 272 ,455 5 0 ,463 ,249 ,774 ,362 ,823 ,937 ,269 ,586 ,158 ,116 ,033 4 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time 8 savings dep. M o n e y market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 27 ,717 ,076 ,214 ,852 ,525 1 2 3 27 28 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y market fund shares L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y RPs 29 30 31 32 33 Life i n s u r a n c e r e s e r v e s P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 34 35 36 ,679 ,046 ,950 ,479 ,506 ,490 ,621 M u t u a l fund s h a r e s C r e d i t market i n s t r u m e n t s C o r p o r a t e bonds Mortgages Bank loans n.e.c. O p e n - m a r k e t paper Other loans 37 38 39 40 41 42 43 43 ,654 1 ,023 1 ,714 5 8 8 ,499 5 0 ,526 1 ,545 1 ,406 661 ,464 S e c u r i t y debt T r a d e debt T a x e s payable Miscellaneous liabilities 44 45 46 47 325 ,472 206 ,515 118 ,957 349 ,974 223 ,034 126 ,940 48 4 1 0 ,913 Net w o r t h A p p r o x i m a t e share stock cos. 49 2 8 2 ,585 A p p r o x i m a t e share other cos. 5 0 128 ,328 319 ,396 51 ,624 356 ,976 54 ,900 376 ,481 M a r k e t value of e q u i t i e s 61 ,444 T o t a l fin. inst. real estate ,790 ,287 ,837 ,450 ,211 223 ,279 1081 ,288 - 1 0 2 ,550 76 370 99 2 28 174 66 ,851 ,437 ,715 ,043 ,503 ,175 ,001 ,174 ,855 ,393 ,439 ,133 231 , 100 1280 ,083 - 1 0 0 ,387 112 403 118 2 28 195 58 ,121 , 181 ,601 ,068 ,096 ,463 ,953 ,266 ,578 ,554 ,790 ,539 2 3 6 ,066 1402 ,033 - 9 1 ,625 136 479 152 2 29 219 74 Memo: Data are in m i l l i o n s of d o l l a r s . 51 52 A p r i l 1990 Private Financial Private Financial Institutions 42 Institutions S e c t o r B a l a n c e S h e e t s with T a n g i b l e A s s e t s at C u r r e n t Cost Year-End O u t s t a n d i n g s Year-End Outstandings 1987 1988 Private Financial 4 Total f i n a n c i a l a s s e t s 5 6 7 8 9 10 C h e c k a b l e dep. 8 c u r r e n c y S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s F e d . funds & s e c u r i t y R P s Foreign deposits 11 12 13 14 15 16 C o r p o r a t e equities Credit market instruments U.S. T r e a s u r y s e c u r i t i e s F e d e r a l agency s e c u r i t i e s S t a t e 8 local o b l i g a t i o n s C o r p o r a t e 8 foreign bonds 17 18 19 20 21 22 Mortgages C o n s u m e r credit Bank loans n.e.c. O p e n - m a r k e t paper Other loans C u s t . liab. on a c c e p t a n c e s 23 24 25 26 S e c u r i t y credit V a u l t cash 8 comm. bank res. Trade credit M i s c e l l a n e o u s finan. assets 171, 4 2 4 160, 940 10, 484 199, 2 0 0 187, 382 11, 8 1 8 7141, 117 8185, 497 223, 683 210, 159 13, 5 2 4 258, 804 2 4 3 , 769 15, 035 2 9 3 , 348 2 7 6 , 007 17, 341 8 1 Tangible assets N o n r e s . plant & e q u i p m e n t 2 3 Land 1989 Institutions 9661, 2 0 4 10609, 5 1 4 68: 8 0 0 12, 851 26, 486 123, 2 0 8 87, 086 22, 168 66, 8 4 5 12, 931 23, 2 5 9 146, 164 93, 634 21,.612 73, 660 11, 606 22, 324 155- 8 9 2 98, 8 6 4 29, 695 74, 441 9, 055 27, 688 152- 4 3 6 120, 2 0 7 26, 367 5 6 7 8 9 10 799,• 986 5283,• 092 539,,778 4 4 8 i-650 423,,515 684,, 142 972, 139 6025-• 698 651 , • 441 609,,994 467,,935 810,• 861 1013,• 8 0 4 6604, 578 671,•185 755,,311 456,,427 953,.753 1186-• 100 7167, 505 651 ,012 8 3 4 ,• 034 456,• 136 1111,-301 1496, 744 7676, 5 6 8 708, 2 0 0 8 7 9 , 546 465, 643 1235, 606 11 12 13 14 15 16 1462:,176 5 6 3 ,659 652 ,706 219 • 280 229.,214 59, 972 1600,,072 621 185 719,,131 239,,202 ,475 251 , 54 ,402 1781,,966 651,,224 720 312 2 6 8 ,633 284 ,890 60 ,877 1971 ,•515 699,,083 758,,282 303,,560 325 • 128 57,,454 2077,• 001 751, 633 8 0 3 , 593 351 -316 349,• 027 55,.003 17 18 19 20 21 55, 194 9, 565 16, 475 104- 102 80,. 148 19, 027 96 54 27 596 ,137 • 168 ,190 .033 97 73 32 644 ,060 ,759 , 062 ,180 8839, 76 66 35 678 ,209 642 ,651 ,473 77 ,448 66,,908 41 ,308 729 ,894 87,, 150 66 • 178 44 ,,940 827,,740 27 Total assets 7312 ,541 8 3 8 4 ,697 9063 ,485 9920 ,008 10902,• 8 6 2 2 8 Total l i a b i l i t i e s 6861 ,104 7882 ,839 8 5 4 2 ,187 9365 ,259 10308 , 156 640 1962 292 492 312 628 2031 316 545 308 652 2169 337 596 334 ,599 052 •510 ,385 ,495 30 31 32 33 314 .402 2 3 5 0 ,535 - 2 1 ,147 339 ,927 2 6 8 5 ,270 - 3 8 ,555 34 35 36 4 6 0 , 144 8 5 9 ,005 366 ,297 3 ,126 32 ,767 323 ,757 133 ,058 4 7 8 ,262 985 714 4 1 7 ,950 3 ,383 34 ,205 377 ,395 152 ,781 5 4 7 ,989 1079 ,316 484 ,604 3 ,331 35 ,502 4 1 4 ,082 141 ,797 37 38 39 40 41 42 43 76 ,096 3 ,396 1 ,927 8 8 3 ,813 63 ,945 3 ,221 1 ,666 1004 ,438 68 ,551 7 ,517 2 ,353 1087 ,573 76 ,192 10 ,200 3 ,393 1236 ,383 44 45 46 47 451 ,437 317 ,534 133 ,903 501 ,858 343 ,317 158 ,541 521 ,298 326 ,614 194 ,684 5 5 4 ,749 303 ,458 251 ,291 5 9 4 ,706 296 ,342 2 9 8 ,364 48 49 50 521 ,769 68 ,728 564 ,471 77 ,471 466 ,181 8 8 ,657 5 0 2 ,176 98 ,563 516 ,547 113 ,680 51 52 Checkable deposits S m a l l time 8 s a v i n g s dep. M o n e y m a r k e t fund shares L a r g e time d e p o s i t s F e d . funds 8 s e c u r i t y R P s 526 1842 243 487 263 34 35 36 Life i n s u r a n c e r e s e r v e s P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 2 4 6 ,507 1652 ,837 - 7 2 ,896 263 ,728 1888 ,082 - 6 7 ,552 37 38 39 40 41 42 43 M u t u a l fund shares Credit market instruments C o r p o r a t e bonds Mortgages Bank loans n . e . c . O p e n - m a r k e t paper Other loans 24 0 ,230 5 8 0 ,460 2 0 4 ,495 2 ,668 32 ,066 2 5 2 ,396 8 8 ,835 413 ,473 719 ,454 287 ,352 2 ,747 36 ,078 284 ,632 108 ,645 44 45 46 47 S e c u r i t y debt T r a d e debt Taxes payable Miscellaneous liabilities 74 ,409 2 ,336 1 ,877 771 ,401 4 8 Net w o r t h A p p r o x i m a t e share stock cos. 49 A p p r o x i m a t e share other cos. 50 ,170 ,740 ,802 ,687 ,544 ,793 .606 , 109 ,707 ,207 29 30 31 32 33 • 185 ,661 ,095 ,285 ,137 2 8 9 ,464 2 0 5 9 ,491 - 2 6 ,550 ,977 ,555 ,953 ,780 ,234 651 2272 428 605 410 Memo: 51 M a r k e t value of e q u i t i e s 5 2 T o t a l fin. inst. real estate D a t a are in m i l l i o n s of d o l l a r s . April 1990 N a t i o n a l Net N o r t h National Net North F a c t o r s A c c o u n t i n g for C h a n g e in C o n s o l i d a t e d N a t i o n a l Net A s s e t s 43 Annual Flows Annual Flows Domestic investment flows: 17,266 23,310 23,956 55,472 28,573 26,899 69,999 33,038 36,961 61,521 36,113 25,408 85,849 39,458 46,391 90,342 45,663 44,679 4,918 9,853 3,018 1,297 -2,249 656 28,874 36,752 39,979 26,705 44,142 45335 8 2 , 7 8 2 P u r c h a s e s of p h y s i c a l a s s e t s 49,708 - Capital consumption 3 3 , 0 7 4 = Net c a p i t a l f o r m a t i o n 1 2 3 3 2 2 + Net f o r e i g n i n v e s t m e n t by U S 4 = Net i n v e s t m e n t f l o w s 33,396 by d o m e s t i c s e c t o r s 5 A d j u s t m e n t s for t a n g i b l e a s s e t s : 52,665 7,055 56,690 11,812 20,572 8,683 -1 961 4,201 43,404 21,75? -1 32,935 18,006 -2 + R e v a l u a t i o n s of r e p r o d u c i b l e 6,060 tangible assets 8 , 5 9 3 + C h a n g e in land v a l u e s 6 7 - A d j u s t m e n t of capital c o n s u m p t i o n to B a l a n c e S h e e t b a s i s 8 A d j u s t m e n t s to net f o r e i g n i n v e s t m e n t : 9 10 623 363 800 -446 1,549 -1,105 89,220 105,618 70,034 31,422 110,852 95,173 + R e v a l u a t i o n of U . S . net f o r e i g n 1,332 assets + R e v a l . of SDR h o l d i n g s 4 9 , 3 8 1 = C h a n g e in n a t l . net a s s e t s 9 10 11 C h a n g e in c o n s o l i d a t e d n a t i o n a l net w o r t h : 8 9 ,220 105 ,618 70 ,034 31 ,422 110 ,852 81 ,835 108 ,527 61 ,806 13 ,355 13 ,082 18 ,779 1 ,505 92 ,402 114 ,190 60 ,132 8 ,170 16 ,095 2 8 ,255 1 ,538 60 ,831 70 ,889 39 ,465 1 ,854 9 ,262 19 ,156 1,,152 33 ,940 4 5 ,087 32 ,682 - 2 ,948 3 ,628 10 ,274 1,,451 104 159 102 20 11 23 2 25 ,502 2,,069 23,>433 23,,693 846 ,847 10,,986 4 ,489 6,,497 23 24 25 890 890 - 2 ,,253 903 - 3 , 156 26 300 300 13 14 15 16 17 18 19 20 21 27 28 29 30 31 32 33 234 881 34 35 36 37 38 39 -64 -64 4 9 , 3 8 1 T o t a l , all s e c t o r s 95 ,142 139 ,420 91 ,909 12 ,199 9 ,595 2 4 ,122 1 ,595 60,550 78,883 57,788 -491 3,495 15,904 2,187 887 513 374 30 ,289 3,,829 26,,460 2 0 ,940 1 ,285 19 ,655 3,038 -529 3,567 - 1 ,,216 880 -21.096 7, 754 368 7, 386 23,,944 438 23,.506 22,,493 1,,529 20,,964 13,686 922 12,764 348 414 -66 288 361 -73 2, 5 0 6 878 1, 6 2 8 1, 347 989 358 845 725 120 1,609 1,378 231 14, 293 55 14,210 8,506 -146 8,644 -3,794 -234 -3,573 13 4,245 -3,019 7,238 26 4,356 -1,124 5,459 21 -29 -15 -14 -28 15 -43 -236 -18 -218 467 24 443 215 76 139 69 60 9 -210 -151 -59 -175 -144 -31 185 -21 206 435 3 432 525 120 405 255 255 -1,802 -1,156 1,700 1,249 -4 -695 -765 1,957 505 -799 1,904 1 ,468 -2,682 28 25 82 95 ,173 ,002 ,582 ,150 ,037 ,655 ,123 ,617 S e c t o r b a s i s , total Households Farm business Nonfarm noncorp. business Nonfinancial corporations Private finan. institutions P r o p r i e t o r s ' net i n v e s t . R e v a l u a t i o n of e q u i t y hange in H H corp. Net p u r c h a s e s Revaluation 13 14 15 16 17 18 19 20 21 equities 23 24 25 Change/fin.inst.corp.shares Net p u r c h a s e s Revaluation 26 27 • C h a n g e in net f i n a n . a s s e t s of -10,346 public sectors -5,503 S t a t e 8 local g o v e r n m e n t s -4,874 U.S. g o v e r n m e n t 31 Sponsored credit agencies Monetary authority 28 29 30 31 32 33 + C h a n g e in f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s Net p u r c h a s e s Revaluation 34 35 36 - C h a n g e in U.S. e q u i t i e s held by f o r e i g n e r s Net p u r c h a s e s Revaluation 37 38 39 Other adjustments: 40 41 42 -681 43 577,119 682,737 752,771 784,193 895,045 990,218 44 212,387 235,236 261,615 260,363 288,255 333,406 ,281 Data are in m i l l i o n s of d o l l a r s . -2,807 1,474 -1,764 + Nonfinancial discrepancy - 1 , 3 6 8 + U n a l l o c a t e d f i n a n c i a l flows 2,495 + Unallocated revaluations N a t i o n a l net w o r t h o u t s t a n d i n g 1039,599 at y e a r end 351,624 Gross National Product 40 41 42 43 44 April 1990 National Net Worth 44 National Net Worth Factors Accounting for Change in Consolidated National Net Assets Annual Flows Annual Flows Domestic investment flows: 1 Purchases of physical assets 2 - Capital consumption 3 = Net capital formation 8 7 600 53 341 34 259 86,166 57,591 28,575 108,591 60,650 47,941 110,864 67,517 43,347 110,741 72,918 37,823 100,673 76,260 24,413 122,980 79,780 43,200 121,645 82,586 39,059 4 + Net foreign investment by US ,728 -260 26 -1,323 4,569 356 -1,878 1,805 = Net investment flows 5 by domestic sectors ,531 28,315 47,967 42,024 42,392 24,769 41,322 40,864 ,052 .684 2,637 15,143 20,998 17,214 35,166 28,300 8,614 21,714 8,775 23,287 4,400 20,530 -2,977 21,842 1,773 4,883 707 -525 9 10 44,040 110,373 73,430 59,204 11 1 2 3 Adjustments for tangible assets: • Revaluations of reproducible 6 tangible assets 7 + Change in land values 8 - Adjustment of capital consumption to Balance Sheet basis Adjustments to net foreign investment: + Revaluation of U.S. net foreign 9 assets 10 • Reval. of SDR holdings 11 = Change in natl. net assets Change in consolidated national net worth: 12 Total, all sectors 44 ,040 45 ,204 8 6 ,902 110 ,373 73 ,430 55 ,318 66 ,539 13 Private sectors, consolidated 14 Sector basis, total 15 Households 16 Farm business 17 Nonfarm nonccrp. business 18 Nonfinancial corporations 19 Private finan. institutions 52 ,402 47 ,526 28 •211 - 1 ,754 3 ,910 15 , 192 1 ,967 54 ,489 135 ,329 109 ,970 2 ,021 3 ,531 14 ,836 4 ,971 84 ,635 151 ,498 109 ,180 3 ,184 7 ,941 27 ,189 4,,004 110 ,690 147 ,603 91 ,764 7 ,093 10 ,929 35 ,050 2 ,767 76 ,102 51 ,503 12 ,091 6 ,768 6,,895 24 ,746 1,,003 73 ,449 200 ,915 164 ,220 9 ,240 6 ,640 15 ,345 5 ,470 72 ,810 113 ,091 80 ,827 3 ,654 4 ,507 20 ,432 3 ,671 2 »279 -343 2,, 622 5 ,411 -2,,225 7,,636 10,,902 -2-•418 13,, 320 17 ,525 -1,,641 19 ,166 13,• 190 - 1 ,• 127 14, 317 15,,233 75 15:,158 ,905 -3,,477 11,,382 5 ,872 20 -2..838 21 8 ,710 - 8 =230 634 - 8 !• 864 70,.642 193 70,,449 49, 545 333 49,>212 17,.586 965 16,,621 26, 103 -1,• 132 27, 235 -7,,742 23 -1,,404 24 -6, 338 25 1, 075 1, 338 •263 4 !787 1 ,497 3, 290 6, 416 1 ,484 4, 932 -9,904 -3,490 -6,431 17 - -9,288 -3,829 -5,473 14 431 -3,240 3,653 18 1,320 -2,977 4,284 13 -3,166 -4,662 1,458 38 -16,621 -5,508 -11,148 35 -7,219 -4,168 -3,081 30 -130 -51 -79 539 256 283 571 173 398 186 111 -392 35 -427 862 75 594 195 399 295 34 663 35 -368 36 -55 -55 1,604 483 1-121 1,321 127 1,194 386 256 130 -870 147 -1,017 ,268 ,214 -54 1,058 351 707 - 6 1 37 203 38 - 2 6 4 39 -2,410 1,445 2,582 -2,658 1,183 2,543 -1,804 1,420 2,970 1,895 —5,144 1,812 1,172 -258 -898 219 -316 -61 1,545 1,794 -1,927 2-807 40 -1,741 41 -2,501 42 1083,639 1128,843 1215,745 1326,118 1399,548 1454,866 1521,405 1580,609 43 371,336 372,493 405,906 428,212 451,036 456,736 495,805 515,323 44 20 - Change in eq.in noncorp.bus. 21 Proprietors' net invest. 22 Revaluation of equity 23 - Change in HH corp. equities 24 Net purchases 25 Revaluation Change/fin.inst.corp.shares Net purchases Revaluation 29 30 31 32 33 + Change in net finan. assets of public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 34 35 36 + Change in foreign equities held by U.S. residents Net purchases Revaluation 37 38 39 - Change in U.S. equities held by foreigners Net purchases Revaluation 1,• 8 0 2 1, 469 333 - 3 7 , 373 388 - 3 7 , 761 •416 2, 280 - 2 , 696 101 , ,402 156 101, 246 10- 831 2,• 400 8, 431 332 530 7 6, 273 3, 321 2 !952 59 ,204 12 61 ,868 63 ,603 45 ,644 1 , 150 4 ,802 8 ,367 3 ,640 13 14 15 16 17 18 19 3,•605 26 3, 430 27 175 28 -1,585 -3,314 1,698 31 - 29 30 31 32 33 Other adjustments: 40 + Nonfinancial discrepancy 41 + Unallocated financial flows 42 + Unallocated revaluations 43 National net worth outstanding at year end 44 Gross National Product Data are in millions of dollars. April 1990 N a t i o n a l Net W o r t h N a t i o n a l Net N o r t h Factors Accounting 45 for C h a n g e in C o n s o l i d a t e d N a t i o n a l Net A s s e t s Annual F l o w s Annual Flows Domestic investment flows: 119,017 85,200 33,817 134,670 87,799 46,871 144,905 91,280 53,625 156,473 95,666 60,807 179,610 100,628 78,982 4,053 5,917 4,971 2,833 36,650 57,678 66,724 197,135 107,489 89,646 196,314 116,768 79,546 2 1 8 , 0 0 6 P u r c h a s e s of p h y s i c a l a s s e t s 127,999 - C a p i t a l c o n s u m p t i o n 90,007 = Net capital formation 1,051 • N e t f o r e i g n i n v e s t m e n t by U S 1 2 3 4 = Net i n v e s t m e n t flows 91,058 by d o m e s t i c s e c t o r s 83,953 A d j u s t m e n t s for tangible a s s e t s : -1,549 19,318 96 13,739 -5,974 16,434 12,863 22,045 11,915 22,907 45,466 40,466 36,010 17,411 • R e v a l u a t i o n s of r e p r o d u c i b l e 95,372 tangible assets 4 , 0 9 3 + C h a n g e in land v a l u e s - A d j u s t m e n t of capital c o n s u m p t i o n -4 to B a l a n c e Sheet basis A d j u s t m e n t s to net foreign i n v e s t m e n t : 9 10 -1,308 -1,733 259 -3,376 53,114 64,765 -259 -11,777 - 179,810 123,567 + R e v a l u a t i o n of U.S. net foreign -941 assets + R e v a l . of SDR h o l d i n g s 189,586 = C h a n g e in natl. net a s s e t s C h a n g e in c o n s o l i d a t e d n a t i o n a l net w o r t h : 12 53,>114 13 14 15 16 17 18 19 62,,972 187,,423 157,• 163 4,,858 5 ,291 12,,973 7,, 138 63, 5 6 9 64,,765 101,,327 117 ,303 179 ,810 123 ,567 189 ,586 T o t a l , all s e c t o r s 71,,777 17,,321 - 1 0 ,,304 4,,200 6,,873 13 5 4 3 3,-009 67,,798 164,,158 134,,838 5,,774 5,,746 13,,990 3 ,810 107,,790 183,.259 137,,946 6,,601 9,,517 22,,897 6, 2 9 8 119 220 163 12 9 29 5 .745 ,942 ,976 ,822 ,258 ,520 ,366 182 ,640 146 ,145 76 ,864 7 ,731 2 0 ,284 39 ,606 1 ,660 153 333 272 10 7 37 6 ,792 ,802 ,283 ,290 ,194 ,046 ,989 199:,695 P r i v a t e s e c t o r s , c o n s o l i d a t e d Sector b a s i s , total 363 ,965 Households 299 ,155 Farm business - 9 ,269 Nonfarm noncorp. business 19 ,482 Nonfinancial corporations 46 ,449 Private finan, institutions 8 ,148 13 14 15 16 17 18 19 20 21 22 9,,808 51 9 ,757 10,,779 58 10 ,721 11 ,116 1 ,110 10 ,006 15,, 656 -806 16,,462 21,,183 259 20,,924 2 7 ,473 -405 2 7 ,878 16 ,764 - 1 ,080 17,,844 10 ,862 - C h a n g e in eq.in n o n c o r p . b u s P r o p r i e t o r s ' net i n v e s t . - 2 ,,967 R e v a l u a t i o n of e q u i t y 13 ,829 20 21 23 24 25 99 ,497 - 1 ,061 100 ,558 - 6 1 ,,745 - 2 ,714 - 5 9 ,031 72 ,511 - 2 ,995 75 ,506 46,,996 - 2 ,,080 49,,076 64 ,803 - 4 ,,772 69,,575 - 5 9 ,573 - 3 ,,490 —56,,083 135,,399 - 5 ,,664 141,,063 130 619 - C h a n g e in H H corp. e q u i t i e s Net p u r c h a s e s - 1 0 ,,729 Revaluation 141,,348 23 24 25 26 27 28 15 ,146 4 ,055 11 ,091 - 3 ,490 4 ,183 - 7 ,673 12 ,733 3,,873 8 ,860 12 ,817 4,,367 8 ,450 15,,211 5,,930 9,,281 —4,,395 5,,850 - 1 0 ,,245 27 847 8,,751 19,,096 22,,789 - C h a n g e / f i n . i n s t . c o r p . s h a r e s Net p u r c h a s e s 10,,668 Revaluation 12,,121 26 27 29 30 31 32 33 -9,453 -3,793 -5,706 46 -7,636 -2,756 -4,935 55 -4,174 -2,565 -6,730 59 -3,919 49 -2,911 -2,453 -513 55 -6,253 -3,836 -2,463 46 - -18,407 -4,922 -13,527 42 - • C h a n g e in net finan. a s s e t s of -13,442 public s e c t o r s -4,033 S t a t e & local g o v e r n m e n t s -9,424 U.S. g o v e r n m e n t 15 S p o n s o r e d credit a g e n c i e s Monetary authority 34 35 36 918 762 156 -188 969 -1,157 431 1,105 -674 125 678 -553 759 -981 -724 720 -1,444 914 1,308 -394 1,214 1,569 -355 37 38 39 2,506 323 2,183 -1,472 109 -1,581 2,149 225 1,924 1,350 -292 1,642 764 -400 1,164 -1,956 -305 -1,651 12,868 698 12,170 4,006 2,097 1,909 40 41 42 1,209 -86 60 -67 -1,687 -102 605 2,791 -537 1,395 653 -556 1,241 -646 -2,104 -1,848 6,143 376 -311 71 43 1633,723 1697,292 1762,057 1863,384 1980,687 2160,497 2284,064 44 533,815 574,643 606,898 649,774 705,099 771,982 816,382 - 1 , 6 68 -2,860 + C h a n g e in foreign e q u i t i e s held by U.S. r e s i d e n t s Net p u r c h a s e s Revaluation - C h a n g e in U.S. e q u i t i e s held by f o r e i g n e r s Net p u r c h a s e s Revaluation 28 29 30 31 32 33 34 35 36 37 38 39 Other adjustments: Data are in m i l l i o n s of d o l l a r s . 860 1,121 + N o n f i n a n c i a l d i s c r e p a n c y 5 , 0 4 5 + U n a l l o c a t e d financial flows - 4 1 + Unallocated revaluations N a t i o n a l net w o r t h o u t s t a n d i n g 2473,650 at year end 892,652 Gross National Product 40 41 42 43 44 A p r i l 1990 National Net Worth N a t i o n a l Net W o r t h Factors Accounting 46 for C h a n g e in C o n s o l i d a t e d N a t i o n a l N e t A s s e t s Annual Flows Annual Flows Domestic investment flows: 439,142 297,791 141,351 1 2 3 14,752 4 110,163 156,103 5 428,321 111,076 220,592 94,632 257,879 176,471 6 7 18,192 36 -5,214 -158 -4,085 -19 9 10 364,616 231*333 133,283 354,920 268,788 86,132 239,444 141,450 97,994 234,465 154,577 79,888 270.070 169,383 100,687 313,207 184,349 128,858 363,507 201,554 161,953 -1,121 2,978 -10,498 -6,964 4,485 96,873 82,866 90,189 121,894 166,438 91,792 44,824 77,387 18,930 111,737 38,587 116,625 70,951 220,722 128,864 4,799 -2,232 -6,393 94 -2,598 889 5,721 1,382 238,289 176,951 12 T o t a l , all s e c t o r s 238,,289 176, 951 234, 2 1 6 307, 761 5 2 3 , 130 683,,411 420,,016 586,.552 12 13 P r i v a t e s e c t o r s , c o n s o l i d a t e d 14 S e c t o r b a s i s , total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Private finan. institutions 233,, 305 164,,385 ,339 ,890 ,455 60 ,481 2 ,220 197, 786 209,,641 131,,175 6,.162 13, 5 5 3 54,,292 4,,459 267, 8 9 4 451 ,,710 325, 947 18,.715 25, 645 70,,159 11,,244 331, 695 521 ,.689 364, 8 7 9 34, 991 31,,304 75 ,755 14 ,760 521,,278 425,• 057 164,,186 77,,638 61,,794 108 .271 13 ,168 717, 343 558, 2 8 7 178, 770 39, 326 54, 035 2 8 6 356 -200 507,,438 787, 623 5 4 7 570 50,, 154 36,• 4 3 0 150 , 144 3 ,325 • 651,.024 929619- 770 71, 302 63,. 553 153, 458 20,,945 , 323 43 ,050 - 2 ,200 45 ,250 63 ,846 - 8 .662 72 ,508 134 ,94 7 11 ,225 123 ,722 91,,364 - 3 0 ,,260 121,,624 8 3 ,503 - 1 9 ,307 102 ,810 129 ,672 20 21 -25, 155',438 22 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net c a p i t a l f o r m a t i o n 4 + Net f o r e i g n i n v e s t m e n t by U S = Net i n v e s t m e n t f l o w s 5 by d o m e s t i c s e c t o r s A d j u s t m e n t s for t a n g i b l e a s s e t s : • R e v a l u a t i o n s of r e p r o d u c i b l e 6 tangible assets 7 + C h a n g e in land v a l u e s 8 A d j u s t m e n t of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t basis -1 A d j u s t m e n t s to net foreign i n v e s t m e n t : + R e v a l u a t i o n of U.S. net foreign assets 9 10 + R e v a l . of SDR h o l d i n g s 11 = C h a n g e in natl. net a s s e t s C h a n g e in c o n s o l i d a t e d net w o r t h : 5 8 6 , 3 5 2 11 national 13 14 15 16 17 18 19 49 ,378 19,,283 - 4 ,,408 23,,691 23 - C h a n g e in H H corp. e q u i t i e s 24 Net p u r c h a s e s 25 Revaluation - 1 0 7 ,827 ,298 - 1 0 0 ,529 ,459 — 16 i - 2 ,,765 - 1 3 ,694 95 ,308 - 5 ,446 100 ,754 8 4 ,026 — 8 ,792 92 ,818 - 1 9 8 ,425 - 3 ,227 - 1 9 5 ,198 - 2 0 3 ,,697 - 1 ,374 - 2 0 2 ,323 138 ,747 - 5 ,785 144 ,532 114 ,268 23 1 ,867 24 112 ,401 25 26 - C h a n g e / f i n . i n s t . c o r p . s h a r e s 27 Net p u r c h a s e s 28 Revaluation - 4 ,416 12 - 1 6 ,440 9 ,031 10 ,820 - 1 ,789 45 ,458 19 ,380 26 ,078 4 2 ,122 21 ,434 20 ,688 - 3 2 ,743 11 ,977 - 4 4 ,720 — 46 ,723 5 ,642 - 5 2 ,365 57 ,935 11 ,172 4 6 ,763 34 ,064 26 27 8 25 ,324 28 -Hi -?:iii 2 0 - C h a n g e in eq.in n o n c o r p . b u s . 21 P r o p r i e t o r s ' net i n v e s t . 22 R e v a l u a t i o n of e q u i t y I'EOELr—ents 1 32 33 S p o n s o r e d credit a g e n c i e s Monetary authority 35 : l'S, 17 r i l l ? - " " -i:S .ill r i & i " " " " " :;3 J! J S -;:E 95 1: 3 -I!;E 146 <-61 4o8 *-7 -»:»? _ Jz ::ii .,! " i ,i I E E I E ::i ' E i l l Other adjustments: y i E E E E E E ™ 43 N at1year end W °rth o u t s t a n d l n 9 44 G r o s s N a t i o n a l P r o d u c t Data are in m i l l i o n s of d o l l a r s . 2711,939 963,946 2888,890 1015,458 "•! 3123,106 1102,684 -II 3430,867 1212,760 JS; 3953,997 1359,316 i s W 4637,408 5057,424 1472,807 1598,426 Hist i! 5 6 4 3 , 7 7 6 43 1782,792 44 April 1990 National Net Worth National Net Worth 47 F a c t o r s A c c o u n t i n g for C h a n g e in C o n s o l i d a t e d N a t i o n a l Net A s s e t s Annual Flows Annual F l o w s 1984 1981 Domestic investment flows: 528,552 332,704 195,848 622,423 376,700 245,723 673,799 430,714 243,085 —16,536 656,250 491,212 165,038 755,387 550,352 205,035 699,925 598,553 101,372 791,400 622,974 168,426 31,232 27,393 30,835 -28,350 - 7 1 , 8 4 4 • Net 140,076 = N e t i n v e s t m e n t flows 276,368 by d o m e s t i c s e c t o r s 196,270 179,312 232,428 132,207 1 0 0 0 , 4 0 0 P u r c h a s e s of p h y s i c a l a s s e t s 652,188 - Capital consumption 3 4 8 , 2 1 2 = Net c a p i t a l f o r m a t i o n f o r e i g n i n v e s t m e n t by U S 1 2 3 4 5 A d j u s t m e n t s for t a n g i b l e a s s e t s : 358,044 207,637 545,636 294,310 520,058 329,418 611,437 305,100 540,896 279,908 64,954 53,487 233,469 168,438 -1 -2 13 27 • R e v a l u a t i o n s of r e p r o d u c i b l e 177,248 tangible assets 5 7 , 5 8 1 • C h a n g e in land v a l u e s - A d j u s t m e n t of capital c o n s u m p t i o n 11 to B a l a n c e Sheet b a s i s 6 7 8 A d j u s t m e n t s to net f o r e i g n i n v e s t m e n t : 9 10 2,836 116 3,331 65 -4,237 -534 -24,078 -142 7,935 -247 -29,833 -220 -20,744 -317 1060,922 220,582 520,895 + R e v a l u a t i o n of U.S. net foreign -9,814 assets - 3 8 8 • R e v a l . of SDR h o l d i n g s 5 0 0 , 9 8 4 = C h a n g e in natl. net a s s e t s C h a n g e in c o n s o l i d a t e d net w o r t h : 520, 500,,984 747, 946 1086, 596 1113, 688 1088, 5 8 8 1060,,922 220,,582 13 14 15 16 17 18 19 795, 053 899, 297 556, 8 6 2 49, 776 110, 458 166, 906 15,,295 1130, 5 0 0 1407, 163 833, 2 6 0 104, 596 148,> 918 285, 441 34, 948 1169, 397 1622, 8 8 6 1010, 974 106, 792 162, 675 306,, 3 3 0 36,,115 1176,,204 1806,,129 1162, 371 79, 952 178, 373 343, 631 41, 8 0 2 1154 • 5 6 0 1311,,414 750,,001 - 1 5 ,,020 237,,749 329,,786 8, 8 9 8 386,,966 563,,383 460,,731 - 4 7 ,,119 14,,721 119 234 15,,816 750, 336 1080, 687 922, 031 - 1 5 , 315 62, 965 86, 504 24, 5 0 2 20 21 22 156,,517 - 2 0 ,226 176,,743 246 ,455 - 3 1 ,,927 278 ,382 262,,712 - 6 5 ,,221 327,,933 253- 4 4 4 -76,856 330,,300 224, 2 8 2 - 4 8 ,-360 272, 642 - 2 7 ,,772 - 9 1 ,,382 63 ,610 49, 596 - 7 9 , 634 129,,230 - 4 3 ,,869 - C h a n g e in eq.in n o n c o r p . b u s . P r o p r i e t o r s ' net i n v e s t . - 8 6 ,,518 R e v a l u a t i o n of e q u i t y 42 ,649 23 24 25 - 4 4 ,409 - 8 ,066 - 3 6 ,343 - 4 ,,597 -13,,089 8 ,492 148, 2 8 3 - 2 4 ,• 4 6 5 172, 748 299, 169 - 1 0 , 953 310, 122 - 6 0 , 094 - 4 1 ,,429 - 1 8 , 665 122,,006 - 1 8 ,,301 140 ,307 149, 655 -23, 485 173,• 140 - 4 6 - C h a n g e in H H corp. e q u i t i e s Net p u r c h a s e s - 7 7 ,320 Revaluation 77 ,274 26 27 28 - 7 ,864 11 ,158 - 1 9 ,022 42, 4 9 4 18,, 660 23, 8 3 4 77, 312 22, 994 54- 318 - 7 ,,334 28,,052 - 3 5 , 386 8 2 ,183 27,,427 54,,756 131, 100 48,-336 82, 764 1 ,516 13 ,270 - 1 1 ,754 29 30 31 32 33 - 4 2 ,494 13 ,703 - 5 6 552 355 - 3 5 ,847 5 ,327 - 4 1 ,694 520 - 2 0 ,,439 6,,949 - 2 7 ,, 944 556 - 5 5 , 704 -2, 296 - 5 3 , 745 337 —86,,180 - 9 ,,266 - 7 7 ,,412 498 - 1 5 2 ,,997 - 4 ,755 - 1 4 9 ,549 1 ,307 - 1 8 4 , 714 3, 961 - 1 8 9 ,.542 867 34 35 36 657 408 249 1 ,126 -351 1 ,477 3 ,598 1 ,025 2 ,573 4,,332 2,,366 1,,966 - 1 ,806 213 - 2 ,019 1 ,208 1 ,370 -162 7 ,296 3 ,683 3,,613 1 ,153 944 209 37 38 39 - 3 ,170 2 ,675 - 5 ,845 2 ,318 2 ,422 -104 6 ,221 1 ,659 4 ,562 16 ,251 5 ,357 10 ,894 -178 4 ,829 - 5 ,007 11 ,888 3 ,318 8 ,570 2 0 ,078 5 ,981 14 ,097 - 1 ,809 - 1 ,285 -524 3 11 national 12 34 .805 12,r 732 22,,073 9 10 729 .661 P r i v a t e s e c t o r s , c o n s o l i d a t e d S e c t o r b a s i s , total 687,,262 Households 580, 917 Farm business - 1 1 0 ,,252 Nonfarm noncorp. business 57,,025 Nonfinancial corporations 98 ,633 Private finan. institutions 60,,939 Net p u r c h a s e s Revaluation + + <C h a n g e in net f i n a n . a s s e t s of public sectors - 1 7 6 ,410 S t a t e 8 local g o v e r n m e n t s 7 ,309 U.S. g o v e r n m e n t - 1 8 4 ,586 S p o n s o r e d credit a g e n c i e s 867 Monetary authority + C h a n g e in f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s Net p u r c h a s e s Revaluation - C h a n g e in U.S. e q u i t i e s held by f o r e i g n e r s Net purchases Revaluation 29 30 31 32 33 34 35 36 37 38 39 Other adjustments: 40 41 42 8 - 4 ,,427 - 4 ,,021 1 ,896 - 7 ,205 - 1 ,,556 -164 - 2 9 ,976 - 2 ,507 - 6 ,075 - 7 ,160 - 6 ,758 - 5 ,216 39 ,195 - 3 9 ,809 75 15 ,223 - 1 8 ,005 - 5 ,325 - 1 7 ,082 - 9 ,538 43 6391,722 7478,318 8592,006 9680,594 10741,516 10962,098 11482,993 3165,950 3405,800 44 1990,504 2249,677 2508,170 Data are in m i l l i o n s of d o l l a r s . 2731,947 3052,632 - 5 ,400 • N o n f i n a n c i a l d i s c r e p a n c y 7 ,885 + U n a l l o c a t e d f i n a n c i a l flows - 5 7 ,714 • U n a l l o c a t e d r e v a l u a t i o n s N a t i o n a l net w o r t h o u t s t a n d i n g 11983,977 at year end 3772,200 Gross National Product 40 41 42 43 44 A p r i l 1990 National Net Worth N a t i o n a l Net W o r t h F a c t o r s A c c o u n t i n g for C h a n g e in C o n s o l i d a t e d N a t i o n a l N e t A s s e t s 48 Annual F l o w s Annual Flows 1985 Domestic investment flows: 1205,500 837,223 368,277 1247,451 892,968 354,483 -104,195 -136,179 -70,009 219,333 232,098 284,474 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net c a p i t a l f o r m a t i o n 1015,325 691,797 323,528 4 • Net 5 f o r e i g n i n v e s t m e n t by U S Net i n v e s t m e n t flows by d o m e s t i c s e c t o r s 1065,325 740,668 324,657 1120,975 792,050 328,925 A d j u s t m e n t s for t a n g i b l e a s s e t s : + R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets + C h a n g e in land v a l u e s 8 114,471 72,054 - A d j u s t m e n t of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t b a s i s 183,130 198,016 418,220 231,549 269,696 171,783 381,722 247,612 -17,851 830 27,743 1,392 -31,691 -194 -45,556 -479 4,833 A d j u s t m e n t s to net f o r e i g n i n v e s t m e n t : + R e v a l u a t i o n of U.S. net f o r e i g n 9 assets 10 + R e v a l . of SDR h o l d i n g s -8,390 749 9 10 11 = C h a n g e in n a t l . net a s s e t s C h a n g e in c o n s o l i d a t e d n a t i o n a l net w o r t h : 393, 384 556, 7 1 0 8 6 0 , 959 639, 027 8 5 6 , 178 605, 427 1103, 4 4 9 1053, 361 - 8 7 , 244 43, 982 52, 8 2 6 40, 5 2 4 8 3 1 , 591 1189, 751 1059, 734 - 4 2 , 663 74, 371 47, 8 8 8 50, 421 1072, 137 1098, 166 847, 545 23, 747 92, 4 9 8 114, 936 19,.440 919, 685 1231, 390 1032, 975 41, 2 6 3 15, 584 108, 117 33, 451 1091, 4 1 8 1826- 4 5 2 1558, 305 63, 8 7 7 101, 8 1 4 62, 4 9 9 39, 957 13 14 15 16 17 18 19 - 3 5 , 314 - 8 9 , 161 53, 8 4 7 37, 716 - 4 7 ,.205 84, 921 115, 041 -95, 225 210, 2 6 6 58, 172 - 8 8 , 912 147, 084 166, 8 5 8 -94, 569 261, 4 2 7 20 23 - C h a n g e in H H corp. e q u i t i e s 24 Net p u r c h a s e s 25 Revaluation 361, 8 6 8 - 1 0 2 ,,796 464,,664 164 4 8 9 - 1 2 5 ,,024 289,,513 - 1 3 0 , 471 - 9 7 , 914 -32, 557 90- 2 4 2 - 1 1 4 , 025 204, 2 6 7 277, 8 8 6 - 1 0 4 ,,144 3 8 2 ,030 23 24 25 26 - C h a n g e / f i n . i n s t . c o r p . s h a r e s 27 Net p u r c h a s e s 28 Revaluation 171 468 34 ,175 137 ,293 155,,955 39 ,379 116 ,576 41.,459 25, 063 16,,396 163, 291 - 2 ,,722 166,,013 290,,290 - 2 .624 2 9 2 ,914 26 ,490 -209 i - 1 7 ,344 - 1 9 3 ,274 1 ,128 - 1 7 7 ,301 - 1 0 ,476 - 1 6 7 ,357 532 12 T o t a l , all s e c t o r s 13 P r i v a t e s e c t o r s , c o n s o l i d a t e d 14 S e c t o r b a s i s , total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 P r i v a t e finan. i n s t i t u t i o n s 2 0 - C h a n g e in eq.in n o n c o r p . b u s . 21 P r o p r i e t o r s ' net i n v e s t . 22 R e v a l u a t i o n of e q u i t y 21 27 28 29 30 31 32 33 + C h a n g e in net finan. a s s e t s of public sectors S t a t e 8 local g o v e r n m e n t s U.S. g o v e r n m e n t S p o n s o r e d credit a g e n c i e s Monetary authority 34 35 36 • C h a n g e in f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s Net purchases Revaluation 12 ,269 3 ,689 8 ,580 10 ,718 1 ,153 9 ,565 4 ,655 - 2 ,130 6 ,785 8 ,514 908 7 ,606 32 ,654 17 ,650 15 ,004 33! 3 37 38 39 - C h a n g e in U.S. e q u i t i e s held by f o r e i g n e r s Net p u r c h a s e s Revaluation 2 9 ,136 4 ,329 24 ,807 4 2 ,957 17 ,166 25 ,791 6 ,777 15 ,587 - 8 ,810 23 ,598 -476 2 4 ,074 53 ,549 7 ,728 4 5 ,821 3 31 3 4 ,650 17 ,488 - 1 8 ,908 1 ,775 - 1 0 ,927 - 1 3 ,353 4 ,825 - 3 7 ,788 27 ,743 9 ,650 - 1 5 ,815 - 4 9 ,919 23 ,304 - 1 3 ,109 - 4 7 ,239 4 4 4 12377 ,361 12934 ,071 13795 ,030 14434 ,057 15290 ,235 4 4 0 1 4 ,925 4231 ,650 4 5 2 4 ,275 4 8 8 0 ,600 5 2 3 3 ,349 4 -198 14 -211 -1 ,406 , 356 ,319 ,443 - 2 2 0 ,137 7 ,964 - 2 2 7 ,668 -433 - 2 0 3 ,836 - 8 ,055 - 1 9 6 , 139 358 31 3 3: 3 Other adjustments: 40 • Nonfinancial discrepancy 41 • U n a l l o c a t e d f i n a n c i a l flows 42 • Unallocated revaluations 43 N a t i o n a l net w o r t h o u t s t a n d i n g at year end 44 Gross National Product Data are in m i l l i o n s of d o l l a r s . April 1990 U.S. Net F o r e i g n A s s e t s U.S. Net Foreign Assets Factors Accounting 49 for C h a n g e in U.S. N e t F o r e i g n A s s e t s Annual Flows Annual F l o w s 1945 1946 1947 1948 1949 1,297 1,335 38 1951 1952 -2,249 1,284 3,533 656 1,313 657 3 2 2 U.S. net f o r e i g n i n v e s t m e n t 1,553 N e t U.S. acq. of fgn. a s s e t s 1,231 - N e t fgn. acq. of U . S . a s s e t s - 3 8 0 + U . S . n e t s a l e s of gold & S D R s 1950 1 2 3 4,918 3,031 -1,887 9,853 9,046 -807 3,018 2,188 -830 4 -623 -2,162 -1,531 -164 1,743 -52 4,295 7,691 1,487 1,133 -506 604 5 6 7 8 - -14 -29 -15 -43 -28 15 -218 -236 -18 443 467 24 139 215 76 -58 = U . S . n e t f g n . i n v e s t m e n t , adj. • R e v a l u a t i o n of f o r e i g n e q u i t i e s 9 held by U.S. r e s i d e n t s 69 C h a n g e in value 60 -Net purchases - R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in value -Net purchases 9 10 11 -64 -64 -59 -210 -151 -31 -175 -144 206 185 -21 432 435 3 405 525 120 12 13 14 230 230 390 1,139 749 538 1,259 721 415 1,075 660 467 1,088 621 683 1,191 508 8 9 0 + R e v a l . of U . S . d i r . i n v . a b r o a d 1,742 C h a n g e in value 852 -Direct investment 15 16 17 -4 -4 90 100 10 150 184 34 98 154 56 370 450 80 177 267 90 155 - R e v a l . o f f g n . d i r . i n v . i n U.S. 287 C h a n g e in value 132 -Direct investment + R e v a l u a t i o n of U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n 36 C h a n g e in value 36 - N e t i n c r e a s e in fgn. liab. 18 19 20 -248 -248 1,185 1,185 356 356 169 169 -16 -16 -20 -20 255 255 588 + Other revaluations 21 623 18 424 -339 1,441 -1,345 22 4,918 8,054 2,287 687 1,043 -501 1,274 = C h a n g e in U . S . n e t f g n . a s s e t s 23 3,160 11,214 13,501 14,188 15,231 14,730 Memo: 16,004 Net f o r e i g n a s s e t s o u t s t a n d i n g Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 U.S. N e t F o r e i g n A s s e t s 5 0 U . S . Net F o r e i g n A s s e t s F a c t o r s A c c o u n t i n g for C h a n g e in U.S. N e t F o r e i g n A s s e t s Annual Flows Annual Flows 1953 1954 1955 1956 1957 1958 1959 I960 - 1 ,323 801 2 ,124 4,569 4,857 288 356 3 ,841 3 ,485 - 1 ,878 2 ,753 4 ,631 1,805 5,695 3,890 1 U.S. net f o r e i g n i n v e s t m e n t Net U.S. acq. of fgn. a s s e t s 2 3 - N e t fgn. acq. of U.S. a s s e t s - 1 ,728 499 2 ,227 -260 1 ,245 1 ,505 26 1 ,443 1 ,417 4 • U . S . n e t s a l e s of gold & S D R s 1 ,161 298 40 -305 -799 2 ,275 1 ,075 1,703 4 5 = U.S.net fgn.investment, adj. 567 38 66 - 1 ,628 3,770 2 ,631 -803 3,508 5 -79 -130 -51 283 539 256 398 571 173 75 186 111 -427 -392 35 530 862 332 399 594 195 -368 295 663 6 7 8 -55 -55 1:>121 1 ,604 483 1 ,194 1 ,321 127 130 386 256 -1,017 -870 147 2 >268 2 >214 -54 707 1 ,058 351 -264 9 - 6 1 10 203 11 12 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in value 13 -Direct investment 14 797 1 ,532 735 711 1,,378 667 941 1 ,764 823 1 ,159 3 ,110 1 > 951 447 2,889 2,442 834 2,,015 1,,181 1 ,046 2 ,418 1,,372 - 9 0 2 12 2 , 0 3 8 13 2 , 9 4 0 14 15 - R e v a l . o f f g n . d i r . i n v . i n U.S. C h a n g e in value 16 -Direct investment 17 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 307 405 98 251 489 238 - 9 15 306 16 315 17 -95 -95 182 182 •141 •141 564 564 367 367 -17 -17 39 39 18 - 4 4 2 19 - 4 4 2 20 6 7 8 9 10 11 18 19 20 • R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U . S . r e s i d e n t s C h a n g e in value -Net purchases - R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in value -Net purchases • R e v a l u a t i o n of U.S. o f f i c i a l fgn. e x c h a n g e £ net IMF p o s i t i o n C h a n g e in value - N e t i n c r e a s e in fgn. liab. 1 2 3 21 • O t h e r r e v a l u a t i o n s 1,,203 509 823 3,,930 -234 -303 1 472 21 2 2 = C h a n g e in U.S.net f g n . a s s e t s 1,,206 856 788 3,,255 4,477 1, 117 •315 2,983 22 23 Net f o r e i g n a s s e t s o u t s t a n d i n g 17,-210 16, 3 5 4 17, 142 20, 397 24,874 2 5 , 991 2 5 , 676 2 8 , 6 5 9 23 D a t a are in m i l l i o n s of d o l l a r s . A pril 1990 U.S. Net F o r e i g n A s s e t s U.S. N e t F o r e i g n A s s e t s F a c t o r s A c c o u n t i n g for C h a n g e in U.S. N e t F o r e i g n A s s e t s 5-1 Annual Flows 1 2 3 Annual Flows 1961 1962 1963 1964 1965 1966 1967 2, 8 3 3 6, 2 4 7 3,,414 2,261 5,062 2,801 4, 0 5 3 7, 601 3,,548 5, 917 9, 5 8 8 3, 671 4, 971 7, 2 3 7 2, 2 6 6 3,,661 7,,206 3,,545 2, 375 10, 318 7,,943 1968 1 ,051 U.S. net f o r e i g n i n v e s t m e n t Net U.S. acq. of fgn. a s s e t s 9 ,825 8 ,774 - N e t fgn. acq. of U . S . a s s e t s 4 857 890 461 125 1,,665 571 1,,170 1 ,173 • U . S . n e t s a l e s of gold & S D R s 5 3, 6 9 0 3,151 4,,514 6,,042 6,,636 4 ,232 3,,545 2 ,224 = U . S . n e t f g n . i n v e s t m e n t , adj. 6 7 8 156 918 762 -1,157 -188 969 674 431 1,,105 553 125 678 -981 759 - 1 ,444 -724 720 -394 914 1,,308 • R e v a l u a t i o n of f o r e i g n e q u i t i e s 355 held by U.S. r e s i d e n t s C h a n g e in value 1 ,214 -Net purchases 1 ,569 9 10 11 2, 183 2, 506 323 -1,581 -1,472 109 1,,924 2,,149 225 1,,642 1,,350 -292 1 ,164 764 -400 - 1 ,651 ,956 -305 12 ,170 12,,868 698 - R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s 1 ,909 C h a n g e in value 4 ,006 -Net purchases 2 ,097 12 13 14 198 2,,852 2,, 654 -292 2,559 2,851 -23 3 ,460 3 ,483 -15 3 ,744 3,,759 -17 4 ,803 4 ,820 - 3 ,101 1 ,724 4 ,825 -38 4 ,322 4 ,360 5 3 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in value 3 ,218 -Direct investment 3 ,165 15 16 17 171 482 311 -126 220 346 101 332 231 97 419 322 20 434 414 -169 257 426 171 869 698 8 4 - R e v a l . o f f g n . d i r . i n v . i n U.S. 892 C h a n g e in value 808 -Direct investment 18 19 20 1 251 250 2 -643 -645 1 84 83 —46 —46 3 443 440 2 3 1 1 1 ,118 1 ,117 + R e v a l u a t i o n of U.S. o f f i c i a l fgn. 10 e x c h a n g e 8 net IMF p o s i t i o n C h a n g e in value 2 ,053 - N e t i n c r e a s e in fgn. l i a b . 2 ,043 1 ,344 + Other r e v a l u a t i o n s 21 691 341 -655 2 ,000 446 3 ,551 995 22 2 ,382 3,752 1 ,138 5 ,735 4 ,903 5 ,060 - 8 ,232 1 ,283 = C h a n g e in U . S . n e t f g n . a s s e t s 23 31 ,041 34,793 35 ,931 41 ,666 46 ,569 51 ,629 43 ,397 Memo: 4 4 ,680 Net f o r e i g n a s s e t s o u t s t a n d i n g Data are in m i l l i o n s of d o l l a r s . A p r i l 1990 U.S. Net F o r e i g n A s s e t s c F a c t U.S. Net F o r e i g n A s s e t s o r s A c c o u n t i n g for C h a n g e in U.S. Net F o r e i g n A s s e t s Annual Flows Annual Flows 1969 1970 1971 1972 1973 1974 1975 1976 14,752 40,196 25,444 1 2 3 U.S. net f o r e i g n i n v e s t m e n t N e t U.S. acq. of fgn. a s s e t s - N e t fgn. acq. of U.S. a s s e t s - 1 , 121 9, 2 9 4 10, 415 2, 978 7, 8 3 0 4, 8 5 2 - 1 0 ,498 11, 5 3 9 2 2 , 037 — 6, 964 11, 340 18, 304 4, 485 16, 9 5 2 12, 4 6 7 - 7 ,498 18, 153 2 5 , 651 24, 031 28, 821 4, 790 + U . S . n e t s a l e s of gold 8 S D R s 967 -64 617 156 9 172 — 66 -78 4 5 6 7 8 = U.S.net f g n . i n v e s t m e n t , adj. - 2 , 088 2, 914 -9,881 - 7 . 120 4, 4 9 4 - 7 , 670 23, 965 14,674 + R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s C h a n g e in value -Net purchases - 1 . 048 501 1,,549 - 1 ,,456 -380 1,,076 -45 ,068 1,,113 2, 2 7 7 2 i8 9 6 619 - 1 ,,183 -511 672 496 - 1 , 015 519 1,495 574 -921 -487 -132 355 - R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in value -Net purchases -41, 321 - 2 ,756 1,,565 -249 448 697 2 ,766 3 ,602 836 5,,814 8, 2 4 8 2, ,434 - 8 ,306 - 5 ,543 2 ,763 -9,834 " 9 !,295 539 6 ,425 11 ,092 4 ,667 4,883 9 7,636 10 2,753 11 • R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in value -Direct investment 226 5 ,157 4 ,931 -203 6 ,565 6 ,768 -338 6 ,119 6 ,457 -629 5 ,115 5 ,744 82 10 ,212 10 ,130 -287 8 ,649 8 ,936 -272 13 ,776 14 ,048 8 1 0 12 12,443 13 11,633 14 - R e v a l . o f f g n . d i r . i n v . i n U.S. C h a n g e in v a l u e -Direct investment -260 1 ,003 1 ,263 -12 1 ,452 1 ,464 276 644 368 6 954 948 2 ,888 5 ,688 2 ,800 -173 4 ,588 4 ,761 -85 2 ,518 2 ,603 - 1 , 2 3 8 15 3,108 16 4 , 3 4 6 17 • R e v a l u a t i o n of U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n C h a n g e in value - N e t i n c r e a s e in fgn. liab. 75 287 212 4 - 2 ,541 - 2 ,545 33 - 1 ,699 - 1 ,732 -7 -159 -152 3 -146 -149 2 1 ,297 1 ,295 -348 435 783 - 1 8 18 2 , 4 6 2 19 2,480 20 • Other revaluations 965 -838 - 3 ,001 1 ,581 1 ,401 8 ,966 251 - 7 4 5 21 10 ,215 10 ,522 18 ,751 10,589 22 32 ,296 4 2 ,818 61 ,569 = C h a n g e in U . S . n e t f g n . a s s e t s 2 ,711 682 - 1 6 ,274 - 9 ,718 Memo: Net f o r e i g n a s s e t s o u t s t a n d i n g 4 7 ,391 48 ,073 31 ,799 2 2 ,081 Data are in m i l l i o n s of d o l l a r s . April 1990 U.S. Net F o r e i g n A s s e t s U.S. Net F o r e i g n A s s e t s F a c t o r s A c c o u n t i n g for C h a n g e in U.S. Net F o r e i g n A s s e t s 5 3 Annual Flows Annual F l o w s 1977 1 2 3 - 1 6 , 536 24, 075 40, 611 1978 1979 1980 1981 1982 -2, 470 57, 997 60, 4 6 7 25, 8 9 6 56, 4 3 5 30, 5 3 9 31, 2 3 2 55, 319 24, 087 27, 393 44, 8 0 5 17, 4 1 2 30, 8 3 5 29, 761 - 1 , 074 1983 - 2 8 , 350 25- 641 53,,991 1984 - 7 1 , 8 4 4 U, S. net f o r e i g n i n v e s t m e n t Net U . S . acq. of fgn. a s s e t s 13,,289 8 5 ,133 --Net fgn. acq. of U . S . a s s e t s 1 2 3 4 •239 1, 184 - 1 ,,201 -16 - 1 ,,723 - 1 ,,372 -65 -979 • U . S . n e t s a l e s of gold & S D R s 4 5 - 1 6 , 775 - 1 , 286 24,,695 31, 2 1 6 25,,670 29,,463 - 2 8 ,,415 - 7 2 ,823 = U . S . n e t f g n . i n v e s t m e n t , adj. 5 + R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s 209 C h a n g e in value 1 ,153 Net purchases 944 6 7 8 6 7 8 249 657 408 1, 4 7 7 1. 126 351 2, 5 7 3 3, 5 9 8 1,,025 1, 966 4, 332 2,,366 — 2 i,019 - 1 ,,806 213 -162 1,,208 1,,370 3,,613 7,,296 3,,683 9 10 11 - 5 ,845 - 3 ,170 2,,675 -104 2,,318 2,,422 4,,562 6,,221 1,,659 10,,894 16,,251 5,,357 - 5 ,007 -178 4 ,829 8 ,570 11 ,888 3 ,318 14 ,097 2 0 ,078 5 ,981 - R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s 9 -524 C h a n g e in value 10 - 1 ,809 -Net purchases 11 - 1 ,285 12 13 14 - 2 ,709 8 ,799 11 ,508 286 16 ,379 16 ,093 -346 26 ,479 2 6 ,825 6 ,671 30,,227 23,,556 3 ,774 16 ,359 12 ,585 - 2 1 ,,673 - 1 1 ,479 10 ,194 - 7 ,235 2 ,587 9 ,822 - 7 ,226 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in value 6 ,007 -Direct investment 13 ,233 15 16 17 97 3 ,825 3 ,728 -20 7 ,876 7 ,896 115 11 ,991 11 ,876 11 ,666 2 8 ,584 16 ,918 472 2 5 ,668 2 5 ,196 2 ,171 15 ,963 13 ,792 435 12 ,382 11 ,947 2 ,163 - R e v a l . o f f g n . d i r . i n v . i n U.S. 15 C h a n g e in value 16 2 7 ,522 -Direct investment 17 25 ,359 18 19 20 79 215 136 452 452 -293 -361 -68 -212 7 ,926 8 ,138 - 1 ,510 1 ,843 3 ,353 -861 2 ,731 3 ,592 - 1 ,089 41 1 ,130 • R e v a l u a t i o n of U.S. o f f i c i a l fgn. e x c h a n g e & net IMF p o s i t i o n 18 - 1 ,555 C h a n g e in value 19 596 - N e t increase in fgn. liab. 2 0 2 ,151 397 • O t h e r r e v a l u a t i o n s 12 13 14 21 21 -531 1 ,444 - 1 ,494 - 9 ,943 3 ,155 3 ,604 - 1 ,501 22 - 1 3 ,939 2 ,045 2 0 ,458 7 ,138 33 ,605 -370 - 4 9 ,159 - 8 2 ,637 = C h a n g e in U.S.net f g n . a s s e t s 2 2 23 5 8 ,219 60 ,264 8 0 ,722 8 7 ,860 121 ,465 121 ,095 71 ,936 Memo: - 1 0 ,701 Net f o r e i g n a s s e t s o u t s t a n d i n g 23 Data are in m i l l i o n s of d o l l a r s . April 1990 U.S. N e t F o r e i g n A s s e t s 54 U.S. Net F o r e i g n A s s e t s F a c t o r s A c c o u n t i n g for C h a n g e in U.S. N e t F o r e i g n A s s e t s Annual Flows Annual Flows 1 U. S. net f o r e i g n i n v e s t m e n t Net U.S. acq. of fgn. a s s e t s 2 •Net fgn. acq. of U.S. a s s e t s 3 104, 195 4, 5 5 5 108, 750 -132, 600 27, 987 160, 5 8 7 - 1 5 0 , 301 21, 687 171,.988 - 1 3 6 , 179 36, 4 9 2 172, 671 - 7 0 , 009 120, 636 190, 645 U.S.net s a l e s of gold 8 S D R s -897 -246 -510 473 795 5 = U . S . n e t f g n . i n v e s t m e n t , adj. 105, 092 - 1 3 2 ,,846 -150,811 - 1 3 5 , 706 -70,804 4 • 6 7 8 + R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s C h a n g e in value -Net purchases 8 -580 12 ,269 3,,689 9 • 565 10,,718 1,,153 6,,785 4,,655 - 2 ,,130 7, 606 8, 5 1 4 908 15,'004 32, 654 17,,650 9 10 11 R e v a l u a t i o n of U.S. c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 24 ,807 2 9 ,136 4 ,329 25,,791 42,,957 17,,166 - 8 ,,810 6,,777 15,,587 24,,074 23, 5 9 8 -476 45 821 53, 5 4 9 7,,728 9 10 11 R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in value -Direct investment 6 ? 046 15 ,730 9 , 684 12 ,294 24 ,682 12:,388 11,,243 44,,335 33,,092 1,,239 16,,189 14,,950 - 1 ,,132 32,,568 33,,700 13 14 R e v a l . o f f g n . d i r . i n v . i n U.S. C h a n g e in value -Direct investment 1 ,010 2 0 • 032 19 ,022 1 ,708 35 ,799 34 ,091 4,,482 51 ,376 46 ,894 - 1 ,,372 5 7 ,063 5 8 ,435 - 1 ,200 59,,660 60,,860 15 16 17 3 ,651 6 ,611 2 ,960 4 ,809 4 ,250 -559 5 ,038 - 4 ,621 - 9 ,659 ,370 2 ,671 4 ,041 -2 26 ,491 2 6 ,493 20 12 13 14 * 15 16 17 18 19 20 + R e v a l u a t i o n of U.S. o f f i c i a l fgn. e x c h a n g e £ net IMF p o s i t i o n C h a n g e in value - N e t increase in fgn. l i a b . 21 + -850 - 1 7 ,020 349 - 1 6 ,464 - 1 4 ,805 2 2 = C h a n g e in U . S . n e t f g n . a s s e t s 113 ,482 - 1 5 0 ,697 - 1 2 3 ,068 - 1 6 7 ,397 - 1 1 6 ,360 Memo: 23 Net foreign a s s e t s o u t s t a n d i n g 124 ,183 - 2 7 4 ,880 - 3 9 7 ,948 - 5 6 5 ,345 - 6 8 1 ,705 Other revaluations Data are in m i l l i o n s of d o l l a r s . 18 19 April 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets 55 Annual Flows 1945 1 2 3 4 5 6 Annual Flows 1946 47 21 2 4 18 266 989 220 044 713 300 1947 55 30 1 4 18 1948 1949 1950 1951 1952 472 508 611 997 038 318 69 36 6 6 20 999 223 042 729 652 353 61, 521 38,,054 3 ,662 4 ,546 14,,866 393 85 ,849 47,,761 5 ,309 8,,358 23,,971 450 90 ,342 47 ,499 5 ,778 6 ,080 30 ,486 499 82,,782 Purchases of physical assets Households 46 ,779 Farm business 3 ,571 Nonfarm noncorp. business 6 •460 Nonfinancial corp. bus. 25 ,541 Private finan. insts. 431 1 2 3 4 5 6 7 8 9 10 11 12 23 310 11 412 1 212 3- 127 7 375 184 28 573 13 969 500 3 899 8 974 231 33 16 1 4 10 038 083 817 454 424 260 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 Capital consumption Households 25 ,582 Farm business 2 ,925 Nonfarm noncorp. business 6 ,009 Nonfinancial corp. bus. 14 ,840 Private finan. insts. 352 7 8 9 10 11 12 13 14 15 16 17 18 23 956 10 577 1 008 917 11 338 116 26 899 16 539 111 1 098 9 064 87 36 20 4 2 10 961 140 225 275 228 93 25,,408 20 ,201 1,,593 -170 3 ,662 122 46 ,391 27 ,913 3 ,004 3 ,359 11 ,948 167 44 ,679 24 ,360 3 ,107 385 16 ,653 174 33 ,074 Net capital formation Households 21 ,197 Farm business 646 Nonfarm noncorp. business 451 Nonfinancial corp. bus. 10 ,701 Private finan. insts. 79 13 14 15 16 17 18 19 4 918 1 ,297 - 2 ,249 656 20 21 22 23 24 25 1 ,415 14 261 943 -917 -11 996 1 • 010 -3 295 2 ,907 -61 -1 .098 - 5 ,760 717 - 5 • 549 4 • 864 -4 184 - 2 • 275 —4 .912 958 3 ,021 454 -1 ,570 170 3 ,067 900 -8 ,415 3 ,848 -2 ,971 -3 ,359 -7 ,673 1 ,740 -912 10 ,596 -3 ,108 -385 -8 ,772 757 26 27 28 29 30 1 • 222 234 881 25 82 14 .304 55 14 ,215 28 6 8 .571 -146 8 ,657 8 52 -3 ,681 -234 -3 ,494 13 34 4 ,262 -3 ,019 7 ,270 26 -15 4 ,375 -1 , 124 5 ,448 21 30 31 2 ,281 -i.,156 —4 1,,957 1,,904 -2,,807 32 33 34 35 36 37 38 52 ,665 13 ,661 8 ,271 11 ,514 13 ,577 -5 ,263 379 56 690 17 , 320 6 ,301 12 ,288 14 ,467 -5 ,899 415 20 ,572 7 ,262 - 2 ,192 5 ,455 7 ,765 - 2 ,152 130 961 1,,172 -1,,651 1,• 416 1, 929 1,,856 -49 43 ,404 15 817 6 514 6 380 9 ,564 —4,,965 164 32,,935 12 ,846 2 ,795 6 ,807 9 ,043 -1,,199 245 6 ,060 Reval. of physical assets Households 3 ,106 Farm business -565 Nor farm noncorp. business 1 ,110 Nonfinancial corp. bus. 3,,340 Inventory valuation adj. ,000 1, Private finan. insts. 69 32 33 34 35 36 37 38 39 40 41 42 43 52 ,665 20 ,392 19 ,292 12 ,689 292 56 ,690 22 ,946 19 ,834 11 ,401 2 ,509 20 ,572 9 ,953 9 ,188 537 894 961 3- 696 ,811 2! -4 s ,963 -583 43,,404 11, 609 12, 865 12, 239 6,,691 32,,935 12,,263 13,,364 2,,447 4,,861 6 ,060 Revaluations by type of asset Residential structures 3 ,965 Plant and equipment 5 •118 Inventories -3,,892 Consumer durables 869 39 40 41 42 43 7 ,055 11 ,812 3 ,921 1 ,337 3 ,288 3 ,193 73 4,,201 2, 037 -1, 799 2,.007 1, 943 13 21, 757 4, 010 11, 914 2, 847 2, 933 53 18, 006 3,,837 7 859 2, 858 3,.386 66 8,,593 Change in land values Households 2, 739 Farm business 481 Nonfarm noncorp. business 2,,341 Nonfinancial corp. business 2,,999 Private finan. insts. 33 44 45 46 47 48 49 Adj. to capital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 50 51 52 53 54 55 44 45 46 47 48 49 50 51 52 53 54 55 5 •073 1 ,387 595 - 9 853 3 .018 8 • 683 2 ,958 802 2-,436 2 ,454 33 -3 126 54 -181 -2 -1 153 65 -219 167 74 -241 -1 170 81 -252 - - - " 176 87 -262 -1 - —2 189 98 -289 - 56 57 58 59 60 61 62 49 ,903 48 , 68 1 36 ,250 1 ,277 3 • 127 6• , 717 1,-310 66',481 52 ,177 33 ,415 1 ,550 3 ,899 12,,278 1,,035 73 ,021 64 ,450 41 ,087 1 ,858 4 ,454 15 ,740 1 ,311 60,,861 64 ,542 38,,508 2,,092 4,,716 17, 933 1,,293 81 • 696 77, 434 51,• 609 2,,338 4,,999 16,,298 2, 190 93,,805 89,,430 58, 095 ,670 5,,695 21, 714 1,,256 63 64 65 66 67 1,,222 234 881 25 82 14,,304 55 14,• 215 28 6 8 ,571 -146 8 ,657 8 52 -3,,681 -234 -3,,494 13 34 4, 262 -3, 019 7,,270 26 -15 4,,375 -1,• 124 5, 448 21 30 Data are in millions of dollars. 322 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfi nancial corp. bus. Private finan. insts. 20 21 22 23 24 25 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 12 ,037 14 ,708 -677 -451 - 3 ,187 1 ,644 -10 ,347 -5 ,503 -4 ,919 31 44 -1 ,368 195 105 -301 2 -1 Unallocated financial flows Memo: Total. gross domestic investment, 84 • 472 Flow of Funds basis Private sectors 94, 819 Households 61 ,487 , Farm business 2,• 894 Nonfarm noncorp. business 6, 009 Nonfinancial corp. busines 22 • 354 Private finan. institution 2,,075 -10, 347 -5,,503 -4, 919 31 44 Public sectors State £ local governments U.S. government Sponsored credit agencies Monetary authority 19 31 56 57 58 59 60 61 62 63 64 65 66 67 April 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1953 1954 87 ,600 51 ,646 1 ,445 7 ,842 25 ,998 669 86 ,166 51 ,995 2 ,442 7 ,812 23 ,219 698 108 ,591 63 ,418 2 ,351 9 ,526 32 ,403 893 110 ,864 62 ,447 3 ,304 7 ,183 37 ,059 871 110 ,741 62 ,090 2 ,508 9 ,549 35 ,678 916 100 ,673 59 ,154 4 ,126 8 ,729 27 ,765 899 122 ,980 69 ,394 3 ,713 10 ,890 37 ,866 1 ,117 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 53 ,341 27 ,777 3 ,082 6 ,255 15 ,852 375 57 ,591 30 ,763 3 ,192 6 ,462 16 ,765 409 60 ,650 32 ,353 3 ,300 6 ,778 17 ,785 434 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 7 44 ,591 8 3 ,740 9 8 ,469 10 25 ,134 11 652 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Private finan. insts. 34 ,259 23 ,869 -1 ,637 ,587 10 ,146 294 28 ,575 21 ,232 -750 1 ,350 6 ,454 289 47 ,941 31 ,065 -949 2 ,748 14 ,618 459 43 ,347 26 ,305 -181 -172 17 ,027 368 37 ,823 23 ,156 -1 ,091 1 ,765 13 ,630 363 24 ,413 18 ,174 467 743 4 ,706 323 43 ,200 26 ,316 -19 2 ,664 13 ,731 508 39 ,059 24 ,768 -192 1 ,617 12 ,421 445 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. -1 ,728 26 -1 ,323 -1 ,878 1 Purchases of physical assets Households 2 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. -260 1955 1956 1957 1958 4 ,569 356 8 ,069 10 ,499 1 ,586 -1 ,587 -3 ,933 1 ,504 7 ,801 6 , 141 737 -1 ,350 -537 2 ,810 - 2 , 141 5 ,073 916 ,748 -6 ,920 1 ,538 2 ,816 12 ,204 138 172 -11 , 128 1 ,430 7 ,854 14 ,908 1 ,040 -1 ,765 - 7 ,330 1 ,001 17 ,199 16 ,911 -499 743 770 2 ,300 -11 ,242 - 3 ,490 - 7 • 810 17 41 -9 244 -3 ,829 -5 ,466 14 37 747 -3 ,240 3 ,937 18 32 1 ,005 - 2 ,977 3 ,916 13 53 - 3 ,027 -4 ,662 1 ,528 38 69 -16 • 527 - 5 ,508 -11,,113 35 59 1 ,445 1 ,183 1 ,420 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. , 052 2• ,068 -2 ! 1,,087 185 1 ,878 < -1,,000 -30 2,,637 -259 564 788 1,,276 -300 -32 20,,998 2. 987 1,,211 4, 253 10,,584 -1,•750 213 39 Revaluations by type of asset 40 Residential structures 41 Plant and equipment 42 Inventories 43 Consumer durables 2,,052 768 1, 917 633 -1, 266 2, 637 4 i256 1, 952 -695 -2, 876 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 Private finan. insts. 7, 684 2, 540 -1, 386 2, 467 3, 987 76 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. 198 112 311 2 -1 20 21 22 23 24 25 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 Public sectors State S local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows Memo: Total gross domestic investment, Flow of Funds basis 84, 427 Private sectors 95, 669 Households 62, 145 Farm business 3, 031 Nonfarm"noncorp. business 6, 255 Nonfinancial corp. busines 22, 065 Private finan. institution 2, 173 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. -11, 242 -3, 490 -7,810 17 41 - 5 , 144 1959 1960 121 ,645 69 ,359 3 ,548 10 ,086 37 ,555 1 ,097 1 2 3 4 5 6 13 14 15 16 17 18 1 ,805 19 3 596 10 ,543 -18 - 2 , 664 -6 ,026 1 >761 5 ,331 12 ,653 157 -1 ,617 -8 ,435 2 ,573 20 21 22 23 24 25 -7 ,268 -4,,168 -2,,938 30 -192 -1 ,785 -3 ,314 1 ,469 31 29 26 27 28 29 30 -258 -316 35,,166 8,,344 1.,532 6,,419 15, 836 -2. 675 360 8 ,614 -3,,888 2,,858 1,,459 6,.571 -1.,525 89 8,,775 3, 423 1,,413 1,,740 1, 921 250 28 4,,400 -1,, 147 252 1, 056 . 3,943 -277 19 -2,,977 -3,,952 1,,524 649 -1,,361 -173 -10 32 33 34 35 36 37 38 20, 998 8, 151 13, 706 1, 576 -2, 435 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 39 40 41 42 43 15, 143 3, 478 3, 225 3, 010 5, 306 124 17, 214 4, 514 4, 562 3, 345 4, 642 151 28, 300 9, 173 6, 926 4, 616 7, 382 203 21, 714 3, 641 6, 473 3, 831 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 44 45 46 47 48 49 -3 200 118 320 -1 -1 206 125 331 -1 214 139 352 -1 -1 222 157 380 1 229 168 396 - - - -3 218 147 369 2 -1 - - 1,,794 -1,,741 31 236 51 176 52 413 53 54 55 84, 723 93, 967 58, 136 3, 179 6, 462 22, 682 3, 508 107, 197 106, 450 68, 491 3, 267 6, 778 25, 483 2, 431 114. 685 113, 680 74, 651 3, 442 7, 355 25, 931 2, 301 115, 568 118, 595 76, 998 3, 548 7, 784 28, 348 1, 917 101, 345 117, 872 76, 065 3, 627 7, 986 26, 995 3, 199 119, 308 126, 576 79, 937 3, 695 8, 226 31, 840 2, 878 125, 191 126, 976 82, 012 3, 705 8, 469 29, 120 3, 670 56 57 58 59 60 61 62 — 9, 244 -3,829 -5, 466 14 37 74 7 —3, 240 3, 937 18 32 1;005 —2, 977 3, 916 13 53 — 3, 027 -4, 662 1, 528 38 69 — 16, 527 —5, 508 — 11, 113 35 59 -7, 268 -4, 168 -2, 938 30 - 192 — 1, 785 -3, 314 1,469 31 29 63 64 65 66 67 T a n g l b i r L s e t Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets 57 Annual Flows Annual Flows I 2 3 4 5 6 119,017 66,145 3,711 11,667 36,451 1,043 134,670 72-481 4,168 13-274 43,380 1,367 144, 905 79, 017 4 ,637 15, 332 44, 694 1 ,225 156, 473 85- 057 3, 985 15- 926 49, 642 1,863 179, 610 92, 321 6-458 17- 351 61, 274 2, 206 197, 135 97, 436 5-897 16, 254 75- 433 2, 115 196, 314 98 .269 7- 046 17, 243 71, 433 2, 323 218, 006 Purchases of physical assets Households 113, 974 Farm business 6, 351 Nonfarm noncorp. business 18, Nonfinancial corp. bus . 75, 689 Private finan. insts. 3, 370 1 2 3 4 5 6 7 8 9 10 11 12 85,200 46,264 3,734 8-635 25,882 685 87,799 47,620 3,762 8,864 26,827 726 91, 280 49, 522 3,807 9, 155 28, 002 794 95, 666 51, 889 3 ,893 9, 569 29, 448 867 100, 628 54, 042 4- 046 10, 101 31 ,459 980 107- 489 56, 961 4, 288 10- 850 34, 281 1 ,109 116, 768 61, 773 4, 552 11 -614 37, 556 1, 273 127, 999 Capital consumption Households 67, 619 Farm business 4, 852 Nonfarm noncorp. business 12, 583 Nonfinancial corp. bus. 41, 448 Private finan. insts. 1 ,497 7 8 9 10 11 12 13 14 15 16 17 18 33,817 19,881 -23 3,032 10-569 358 46-871 24,861 406 4-410 16,553 641 53- 625 29, 495 830 6, 177 16, 692 431 60, 807 33, 168 92 6, 357 20, 194 996 78, 982 38, 279 2, 412 7, 250 29, 815 1, 226 89, 646 40- 475 1- 609 5, 404 41 ,152 1 ,006 79, 546 36, 496 2, 494 5- 629 33- 877 1, 050 90- 007 Net capital formation Households 46, 355 Farm business 1 ,499 Nonf arm noncorp. business 6 !039 Nonfinancial corp. bus. 34, 241 Private finan. insts. 1 ,873 13 14 15 16 17 18 19 2,833 2,261 4 ;053 5,,917 4 !971 3, 661 2, 375 7, .152 27, 394 -2,,366 -7, 250 -11,,780 1,, 154 10, 932 35, 944 -1, 527 -5,,404 -18,,964 883 21, 319 42- 506 -2, 453 -5,,629 -14 ,257 , 1 ,152 9, 654 33 055 -1 456 -6 039 -17,,462 1 ,556 , -5,,423 -3-,836 -1,,651 46 18 -18,,633 -4 •908 -13 ,795 42 28 -13 ,648 , — 4 ,033 -9 ,651 15 21 -311 5 ,045 1, 051 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 19 20 21 23 24 25 12,269 17,026 —6 -3,032 -4,645 2,926 11-655 18,318 -407 -4,410 -4,940 3,094 5 ,220 17, 356 -947 -6 ,177 i -5 858 846 12,• 252 23,.449 -102 -6 • 357 -7 ,006 2 ,268 26 27 28 29 30 -9,350 -3,793 -5,670 46 67 -7,707 -2,756 -5,052 55 46 -3 ,958 -565 -1 ,507 59 55 -6 ,988 - 2 ,860 -3 ,710 49 -467 -3.,041 -2,,453 -669 55 26 31 -86 -1 ,687 2 ,791 653 860 32 33 34 35 36 37 38 -1 ,549 -1-596 1,027 -461 -348 271 100 96 -2,888 1 ,884 1,091 -156 26 191 - 5 ,974 -6 ,719 710 -1 ,853 1 ,657 54 285 12 -863 3 ,484 475 3 ,310 4 ,869 -494 231 11 ,915 -3 ,613 3 571 3 • 294 7 ,028 -1 ,245 390 45 ,466 17 ,797 1 ,660 , 9 ,806 13 ,375 -2 ,107 721 36 010 14 025 1 ,272 , 5 ,098 13 • 364 -1 ,554 697 95 ,372 Reval. of physical assets Households 43 437 Farm business 4 ,780 Nonfarm noncorp. business 17 , 149 Nonfinancial corp. bus. 25 -410 -3 ,651 - Inventory valuation adj. Private finan. insts. 945 32 33 34 35 36 37 38 39 40 41 42 43 -1,549 548 -49 -728 -1,320 96 355 2,398 459 -3,116 -5 ,974 - 7 ,506 2 ,976 -56 -1 ,388 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 Revaluations by type of asset Residential structures 50 ,563 Plant and equipment 34 ,259 Inventories 6 ,470 Consumer durables 4 ,080 39 40 41 42 43 44 45 46 47 48 49 19,318 4-111 5,651 3,663 5,622 271 13,739 3,816 4,272 3,514 1-916 16 ,434 2 ,883 7 ,889 3 ,507 1 ,973 182 ,045 5 -831 8 ,643 4 ,218 3 ,091 262 ,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 4 ,093 Change in land values Households 13 ,134 Farm business -14 ,046 Nonfarm noncorp. business 4 ,858 Nonfinancial corp. business 26 Private finan. insts. 121 44 45 46 47 48 49 50 51 52 53 54 55 -3 244 183 -430 -1 256 192 -448 -3 270 203 -475 -2 286 212 -499 -2 337 245 -583 -2 361 265 -629 1 -1 -1 -1 -2 308 227 -537 1 -1 - 4 Adj. to capital consumption Households 393 Farm business 288 Nonfarm noncorp. business -684 Nonfi nanci al corp. business -1 Private finan. insts. " 50 51 52 53 54 55 56 57 58 59 60 61 62 121 ,936 131,286 83, 171 3,705 8,635 31-806 3,969 138,618 146,325 90-799 3,761 8-864 38-440 4,461 146 ,167 150 ,125 96 ,373 3 ,690 9 , 155 38 ,836 2 ,071 161 ,737 168 ,725 108 -506 3 ,883 9 ,569 42 ,636 4 ,131 183 ,721 186 ,762 119 ,715 4 ,092 10 ,101 49 ,494 3 ,360 202 ,644 208 -067 133 ,380 4 ,370 10 ,850 56 ,469 2 ,998 199 -000 217 -633 140 -775 4 ,593 11 ,614 57 ,176 3 ,475 Total gross domestic investment, 214 ,012 Flow of Funds basis Private sectors ,990 Households 147 -029 Farm business 4 ,895 Nonfarm noncorp. business 12 ,583 Nonfinancial corp. busines 59 ,557 Private finan. institution 4 ,926 63 64 65 66 67 -9,350 -3,793 -5,670 46 67 -7,707 -2,756 -5,052 55 46 -3 ,958 - 2 ,565 -1 ,507 59 55 -6 ,988 -2 ,860 -3 ,710 49 -467 - 3 ,041 - 2 ,453 -669 55 26 -5 ,423 -3 ,836 -1 ,651 46 18 -18 ,633 -4 ,908 -13 ,795 42 28 -14 ,978 -4 ,033 -10 ,981 15 21 Data are in millions of dollars. -1, 00 £ 20 21 -1 - Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 23 24 25 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 April 1990 Tangible Asset Holdings Tangible Asset Holdings 58 Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 239, 444 121; 503 6;.780 22;-901 84;,701 3.,559 234; 465 119; 405 7; 387 23- 695 80 446 3; 532 270,• 070 140; 873 9;.141 30; 169 85; 646 4;,241 313, 207 164; 170 9; 276 39; 139 95; 837 4 ,785 ; 363;,507 183,396 14 .082 , 42,.492 117 .526 6,,011 364- 616 180- 396 11 •211 32; 931 132; 862 7; 216 354; 920 193; 876 16; 904 25- 609 110- 346 8,. 185 439; 142 237; 517 13; 570 27;.350 152;-302 8 ,403 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 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 90,,201 5 ,942 16 ,426 54 ,783 2 ,031 184,,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 7 151. 657 8 10 771 9 28, 514 10 102, 301 11 4 548 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Private finan. insts. 97 ,994 46 -178 1 ,529 9 ,070 39 ,302 1 ,915 79 ,888 37 ,086 1 ,756 8 ,724 30 ,589 1 ,733 100 ,687 50 ,672 3 ,199 13 ,743 30 ,863 2 ,210 128 ,858 66 ,793 2 ,671 21 , 150 35 ,726 2 ,518 161 ,953 76 ,829 6 ,854 22 ,527 52 ,303 3 ,440 133,,283 59 ,568 2.,903 10 ,254 56 ,561 3 ,997 86 ,132 56 ,770 7 ,115 -498 18 468 4 ,277 19 Net foreign investment Net financial investment: 20 Private sectors 21 Households 22 Farm business 23 Nonfarm noncorp. business Nonfi nanci al corp. bus. 24 25 Private finan. insts. -1,121 2,978 -10,498 -6,964 4,485 -7,498 24,031 -5,567 27,628 -1,468 -9,070 -19,110 -3,547 16,373 52,501 -1 ,748 -8,724 -20-300 -5,356 17,021 48,954 -3,184 -13,743 —16,062 1,056 8,217 51 ,946 -2,499 -21,150 -16,930 -3,150 1,690 80,016 -6,255 -22,527 -50,616 1,072 5,889 60,208 -2,681 -10,254 -37,254 -4,130 91 ,557 101,745 -6,568 498 10,387 -14,505 60,979 77,723 -2,355 1,164 -17,062 1,509 20 21 22 23 24 25 -21 •839 -8;• 923 -12,,954 17 21 -32; 106 -8, 678 -23; 469 95 -54 -16; 899 1 ;815 -18,.961 146 101 -1, 461 5, 155 -7, 009 261 132 -11 .988 -3; 042 -9;,544 4 68 130 -79- 430 -5, 327 -74, 610 271 236 -59-322 -432 -59,269 331 48 26 27 28 29 30 1;,718 4,,256 -1 ,399 , 11 .904 ; 1 Purchases of physical assets 2 Households 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. 26 27 28 Public sectors State S local governments U.S. government 29 Sponsored 30 Monetary authority credit agencies 986 -7, 308 6, 247 35 40 4 • 587 141 ,351 85 • 860 2 ,799 -1 ,164 50 • 001 3 ,855 1 2 3 4 5 6 13 14 15 16 17 18 14,752 19 13,095 31 5, 432 8,,444 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. 91 ;792 36, 179 6; 579 15; 473 27; 019 -5; 870 672 77 ,387 27 ,030 2 ,123 11 ,310 29 ,349 -6 ,552 1 ,023 111, 737 43,,790 7,,404 19 ,682 35 ,047 -4,,584 1 ,230 , 116;,625 47 ,731 13,,693 17,,880 30 ,090 -6 ,610 621 220,.722 86 209 24,,697 30,,604 57,,530 -20,,022 1,,660 428 ,321 145,,218 14 ,828 53,,028 170 ,615 -39 ,457 5 ,175 220,,592 78,,199 5;.662 29;,771 95,,096 -10,,952 912 257,879 110-877 7,692 46-907 75,080 -14,911 2,412 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures 41 Plant and equipment 42 Inventories 43 Consumer durables 91 ,792 ; ,964 41 , 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 ,451 116 ,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 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 Private finan. insts. 44 ,824 12 ,099 23 ,223 5 ,626 3 , 656 220 18 ,930 7 ,459 4 ,631 4 ,058 2 -649 133 38 ,587 16 ,594 11 ,919 6 ,912 2 ,979 183 70 ,951 19 ,694 23 ,904 18 ,766 8 ,399 188 128 ,864 35 ,934 54 ,431 25 ,841 12 ,407 251 111 ,076 31 ,762 29 ,682 26 ,233 22 ,891 508 94 ,632 18 ,866 46 ,328 23 ,638 6 , 125 -325 176,471 57-437 70,999 33,957 13,932 146 44 45 46 47 48 49 469 349 -817 -2 505 373 -880 548 421 -967 -3 618 467 -1 ,087 -1 368 549 -918 -1 423 672 -1 ,093 -3 473 768 -1,243 -1 50 51 52 53 54 55 228,• 999 251 , • 167 171,,906 5,,639 14 ,971 60 475 -1 ,824 254-.985 287 808 189,,827 5, 957 16 426 70 ,301 5 ,297 304; 525 322;,336 216;,116 6; 777 17;,989 79;,819 1 ,635 363 ,736 368 ,365 263,,412 7 ,827 19 ,965 70 ,078 7 ,083 358, 517 376,• 995 240, 604 8 ,530 22,,677 102 ,098 3 ,086 • 367, 047 447,,800 295,,621 10,,336 26,>107 122, 056 -6,,320 440,.799 56 504,,094 57 315,• 240 58 11 • 215 59 28,,514 60 139, 213 61 9,,912 62 -22 ,168 -8 ,923 -13 ,283 17 21 -32 •823 -8 ,678 -24 , 186 95 -54 -17 ,811 1 ,815 -19 ,873 146 101 -4 ,629 5 ,155 -10 ,177 261 132 -18 .478 -3 ,042 -16 ,034 468 130 -80,,753 -5 ,327 -75 ,933 271 236 -63,,295 -432 -63 ,242 331 48 31 Unallocated financial flows 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business Nonfinancial corp. business 54 55 Private finan. insts. 56 57 58 59 60 61 62 63 64 65 66 67 -1 444 320 -765 Memo: Total gross domestic investment 232,,891 Flow of Funds basis 233- 921 Private sectors 149 .131 Households 5 • 312 Farm business 13,,831 Nonfarm noncorp. business 65,,635 Nonfinancial corp. busines 12 Private finan. institution Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. -1 ,030 -7 ,308 6 ,203 35 40 1 -1 63 64 65 66 67 April 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 528,552 284,225 19,088 39,282 176-719 9,238 622,423 327,703 20-870 47,366 215,201 11,283 673,799 356,068 26-235 44,312 233-830 13,354 656,250 342,694 14,138 46,594 238,186 14,638 755,387 362,050 24,116 71,518 281,052 16,651 699,925 354,980 13-805 65-212 247,940 17,988 791 ,400 436,525 4,146 68,454 262,090 20,185 1000,400 Purchases of physical assets 506,184 Households 20,102 Farm business 81,674 Nonfarm noncorp. business 360-004 Nonfinancial corp. bus. 32,436 Private finan. insts. 1 2 3 4 5 6 11 12 332,704 169-015 12,099 31,945 114,321 5,324 376,700 190,344 13,557 36,564 129,844 6,391 430-714 215,204 15,343 42,935 149,609 7,623 491,212 243,638 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 22-400 64,181 228,196 12,900 652,188 Capital consumption 309,394 Households 22,500 Farm business 67-383 Nonfarm noncorp. business 238-436 Nonfinancial corp. bus. 14,475 Private finan. insts. 7 8 9 10 11 12 13 14 15 16 17 18 195,848 115,210 6,989 7,337 62,398 3,914 245,723 137,359 7,313 10,802 85,357 4 ,892 243,085 140,864 10,892 1,377 84,221 5,731 165,038 99-056 -3,453 -3,256 66,924 5,767 205,035 97,687 4,753 14,159 82-270 6,166 101,372 74 ,067 —6,650 1 ,445 26,547 5,963 168,426 141 ,228 -18,254 4,273 33,894 7,285 348,212 Net capital formation 196,790 Households -2,398 Farm business 14,291 Nonfarm noncorp. business 121,568 Nonfinancial corp. bus. 17,961 Private finan. insts. 13 14 15 16 17 18 -16,536 -2,470 25,896 31,232 27,393 30,835 -28,350 74,388 150,873 -4,530 -14, 159 -40,858 -16,938 172,511 189,198 7,147 -1-445 -13,667 -8,722 176,024 181,268 18,832 -4,273 -11-410 -8,393 -71,844 Net foreign investment Net financial investment: 104-581 Private sectors 193,895 Households 3,066 Farm business -14,291 Nonfarm noncorp. business -53,634 Nonfinancial corp. bus . -24,455 Private finan. insts. 20 21 22 23 24 25 1 2 3 4 5 6 7 8 9 10 19 22 23 24 25 31,198 74,756 -6,698 -7,337 -31 ,030 1-507 37,936 60,549 -6,411 -10,802 -22,023 16-623 72,345 62,625 -9,977 -1-377 3,631 17,443 103,518 104,841 3,920 3,256 -24,735 16,236 26 27 28 29 30 -43,307 12,159 -56,044 355 223 -33,201 5,327 -39,728 520 680 -16,473 6,949 -24-198 556 220 -65,126 -2,296 -63,340 337 173 -86,190 -9,266 -77,871 498 449 -156-899 -4,755 -153,398 1,107 147 -187-292 3-961 -192,627 867 507 -184,310 7,309 -193,061 867 575 -4,427 -7,205 -7,160 39,195 15,223 -17,082 7,885 32 33 34 35 36 37 38 358,044 164,050 10,969 65,559 97,052 -16,637 3,777 545, 636 220, 464 33, 290 96, 813 162, -25, 298 7, 649 520- 058 184, 774 18, 034 122, 083 147, 990 -43, 175 4, 002 611,437 188 ,930 31 ,021 132.033 209,115 -43,129 7,209 540,896 162,094 11,553 120,074 215,761 -24,189 7,225 64,954 -67,382 5-441 36,309 77,434 -10,350 2,802 233,469 113,532 22,820 52,292 34-111 -10,900 -186 177,248 Reval. of physical assets 28,590 Households 4,548 Farm business 66,966 Nonfarm noncorp. business 72,233 Nonfinancial corp. bus. -5,800 - Inventory valuation adj. -889 Private finan. insts. 32 33 34 35 36 37 38 39 40 41 42 43 358,044 190,249 127,227 21,130 19,438 545, 636 233- 760 221 -773 53: 921 36,. 182 520, 058 235, 073 160- 521 73 -626 50« 838 611 ,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 Revaluations by type of asset 105,264 Residential structures 88,425 Plant and equipment 3,276 Inventories -19,717 Consumer durables 39 40 41 42 43 44 45 46 47 48 207-637 82-172 45,536 57-013 22,653 263 294-• 310 105, 596 80,• 824 73 f 228 33 , 929 733 329- 418 103,.709 101. 678 91,,947 32 031 53 305,100 82,159 68,591 102,877 50,710 763 279 t 908 124,350 -10,358 113,136 51,935 845 53,487 5-151 -38,978 55,942 31,015 357 168-438 92,209 -17,873 69,190 24,424 488 57,581 Change in land values 55,905 Households -114,122 Farm business 75,592 Nonfarm noncorp. business 39,010 Nonfinancial corp. business 1,196 Private finan. insts. 44 45 46 47 48 49 -1 644 1 -027 -1 ,673 1 -2 773 1 ,193 -1 ,967 -1 -1 909 1,399 -2,308 -1 -2 1,030 1,570 -2,603 1 13 1,113 1,680 -2,782 9 -7 27 1 ,160 106 -1 ,259 -12 32 11 Adj. to capital consumption 1,242 Households 100 Farm business -1,321 Nonfarm noncorp. business 6 Nonfinancial corp. business -16 Private finan. insts. 51 52 53 54 55 20 21 50 51 52 53 54 55 -1 548 891 -1,440 1 -1 - 62 516,443 562,220 358,981 12,390 31 ,945 148-159 10-745 627 ,158 662 ,332 388 ,252 14 -459 36 -564 195 -151 27 ,906 729 -671 750 • 889 418 ,693 16 ,258 42 ,935 242 ,206 30 ,797 694,642 764,765 447,535 18-058 49,850 218,448 30,874 743,585 834,622 512,923 19,586 57,359 245,041 -287 715,537 880,227 544,178 20,952 63,767 242,064 9,266 780,132 975-209 617,793 22,978 64,181 258-465 11 ,792 63 64 65 66 67 -45,777 12-159 -58,514 355 223 -35 ,174 5 ,327 -41 ,701 520 -21 ,218 6 ,949 -28 ,943 556 -70,123 -2,296 -68,337 337 173 -91,037 -9,266 -82,718 4 98 449 -164,690 -4,755 -161,189 1,107 147 -195,077 3,961 -200,412 867 507 56 57 58 59 60 61 Data are in millions of dollars. Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows Memo: Total gross domestic investment, 920-671 Flow of Funds basis 1112,883 Private sectors 700,079 Households 23-168 Farm business 67,383 Nonfarm noncorp. business 314,272 Nonfinancial corp. busines 7,981 Private finan. institution -192,212 7,309 -200,963 867 575 Public sectors State £ local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 31 56 57 58 59 60 61 62 63 64 65 66 67 April 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1985 1986 1987 1988 1989 1015 325 548 ,885 7 ,361 84 ,241 335 ,478 39 ,360 1065 • 325 603 ,777 7 ,658 88 ,074 321 ,640 44 ,176 1120 ,975 643 ,373 9 ,899 74 ,324 345 ,327 48 •052 1205 ,500 698 ,515 4 ,001 71 -018 377 , 141 54 ,825 1247 ,451 736 ,560 8 ,077 60 ,920 383 ,172 58 ,722 1 2 3 4 5 6 7 Capital consumption Households 8 Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Private finan. insts. 12 691 ,797 332 ,303 .000 70 ,502 250 ,967 16 ,025 740 ,668 361 ,699 21 ,200 73 ,411 265 ,883 18 ,475 792 ,050 390 ,118 20 ,500 79 ,888 280 ,219 21 ,325 837 ,223 412 ,092 20 ,536 84 ,396 295 ,649 24 ,550 892 ,968 432 ,761 20 ,674 96 ,077 315 ,756 27 ,700 7 8 9 10 11 12 13 Net capital formation Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Private finan. insts. 18 323 528 216 ,582 -14 ,639 13 ,739 84 ,511 23 ,335 324 ,657 242 ,078 -13 ,542 14 .663 55 , 757 25 ,701 328 -925 253 ,255 -10 ,601 -5 , 564 65 ,108 26 ,727 368 ,277 286 .423 -16 535 -13 ,378 81 ,492 30 ,275 354 ,483 303 ,799 -12 .597 -35 , 157 67 ,416 31 , 022 13 14 15 16 17 18 1 Purchases of physical assets Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 6 Private finan. insts. 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business 23 Nonfinancial corp. bus. 24 Private finan. insts. 25 20 21 81 ,327 128 ,683 15 ,496 -13 ,739 -21 ,958 -27 , 155 103 ,932 166 ,478 14 , 181 -14 .663 —4 6 511 -15 ,553 -150 ,301 82 ,296 123 • 005 11 ,530 5 ,564 -27 ,990 -29 ,813 -70 ,009 19 77 ,427 127 ,632 17 ,907 13 ,378 -32 ,939 -48 ,551 144 ,252 174 ,812 14 ,444 35 , 157 -43 ,499 -36 ,662 20 21 -201 , 152 -17 ,476 -184 ,801 532 593 26 27 28 29 30 -136 ,179 23 24 25 -194 ,809 —8 • ,055 -185 ,287 358 -1 ,825 -197 ,791 -17 ,344 -182 ,172 1 ,128 597 17 ,488 -10 ,927 -37 ,788 -15 ,815 -13 ,109 31 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. 38 114 ,471 32 , 159 -1 ,546 57 ,502 32 , 758 -1 ,675 -8 ,077 183 ,130 73 ,622 3 ,632 33 641 78 • 242 6 ,750 743 418 ,220 169 ,247 13 ,851 105 ,174 114 964 -18,,925 -3,,921 269,,696 44,,098 16,.525 54,,045 126, 650 -25,,000 3, 378 381 ,722 103 .506 ,311 113 ,805 121,,420 -18,,624 2,,056 32 33 34 35 36 37 38 39 Revaluations by type of asset Residential structures 40 Plant and equipment 41 Inventories 42 Consumer durables 43 114 82 39 -5 -1 ,471 ,539 ,011 ,949 ,130 183 ,130 87,,281 102:,459 -17 . 124 10, 514 418, 245,,330 126, 791 38,. 147 7,,952 269 ,696 67,,752 133- 427 52, 682 15, 835 381 , ,722 204,,731 159,-791 ,911 -5,,711 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 72 ,054 50 i ,237 -88 ,343 78 ,209 30,,840 li 111 198,.016 122,. 150 -52,, 185 94, 618 32, 099 1,,334 231, 549 119, 876 8 • 182 74, 975 26, 810 1,» 706 171, 783 71, 174 31 ,092 44, 429 23, 577 1, 511 247,,612 107, 136 53,,134 58,,362 26, 674 2,>306 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 4,,833 6,.100 149 -1, 389 -13 -14 -528 4 68 446 -1, 367 -77 2 -3, 431 302 582 -4, 227 -117 29 2, 665 8, 480 -130 -5- 582 •146 43 11, 595 23, 734 -60 -12, 688 -231 840 50 51 52 53 54 55 Memo: Total gross domestic investment, 893- 642 Flow of Funds basis Private sectors 1101- 028 677, 568 Households Farm business 22, 857 Nonfarm noncorp. business 70, 502 Nonfinancial corp. busines 317, 896 Private finan. institution 12, 205 943, 652 1176, 451 770, 255 21, 839 73, 411 282, 323 28, 623 1008, 462 1206, 207 766, 378 21 ,429 79, 888 320, 273 18, 239 1085, 136 1286, 234 826, 147 21, 908 84 ,396 347, 509 6, 274 1190, 551 1394, 101 911, 372 521 96, 077 342, 071 060 56 57 58 59 60 61 62 -232, 799 7, 964 -238- 446 433 -1, 884 -197, 745 -8, 055 -188, 358 825 -201, 098 -17, 344 -185, 479 1 ,128 597 -203- 550 -17, 476 -187, 199 532 593 63 64 65 66 67 31 56 57 58 59 60 61 62 63 64 65 66 67 Unallocated financial flows Public sectors State S local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. -203 ,010 14 ,356 -214 ,779 -1 ,443 -1 , 144 -132 ,600 -225 605 7 ,964 -231 ,252 -433 -1 ,884 26 27 28 29 30 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority -104 ,195 -207, 386 14, 356 -219,• 155 -1, 443 -1, 144 April 1990 Households Households 61 Factors Accounting for Change in Net Worth Annual Flows 1945 Annual Flows 1946 1947 1948 1949 1950 1951 Households, Personal Trusts, and Nonprofit Organizations 8 9 10 36,250 33,415 41,087 38,508 51,609 58-095 61,487 21,989 14,261 18,416 4-155 30-508 2,907 11,070 8,163 36,223 4 ,864 12-903 8,039 38,054 454 8-996 8,542 47,761 3-848 16,949 13,101 47,499 10-596 19-484 8,888 46,779 14,708 27,096 12,388 11,412 13,969 16,083 17,853 19,848 23,139 25,582 2 3 4 5 Capital consump. allow.,NIPA 6 Net investment flow. Balance Sheet basis 7 153 14, 122 13,969 167 16,250 16,083 170 18,023 17,853 176 20,024 19,848 189 23,328 23, 139 195 25,777 25,582 Depreciation valuation adj. 8 Depreciation charges 9 -Cap. consump. allow., NIPA 10 13,661 24, 112 11,538 21,989 17,320 33,706 14,122 30,508 7,262 27,235 16,250 36,223 1,172 21,203 18,023 38,054 15-817 43,554 20,024 47,761 12,846 37,017 23,328 47,499 3,106 24, 108 25,777 46,779 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 11 12 13 14 13,661 17,320 13,135 1,676 2,509 7,262 5,948 420 894 1,172 1,935 15,817 8,341 785 6,691 12,846 7,055 930 4,861 3,106 2,021 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 Change in the value of land holdings 19 1,681 -180 -583 1,172 1 .172 -3,250 -2, 138 1,112 -2,089 -1,113 976 8,614 9,309 695 23-541 24,218 677 23 24 25 5,062 5,062 5,403 5,403 5,299 5,299 5,576 5,576 6, 148 6,148 26 27 28 23,433 25,502 2,069 22,847 23,693 846 6,497 10,986 4,489 374 887 513 26,460 30,289 3,829 20,804 22,630 1 ,826 19,655 20,940 1,285 1 716,943 158,915 777,075 168,779 Data are in millions of dollars. 216 869 12,683 14, 136 1,453 Reval. of corporate equities 20 Change in value 21 -Net purchases 22 7 7,663 7,656 Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 23 24 25 3,567 3,038 -529 Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 26 27 28 -24 + Other revaluations 60,132 1 Capital expenditures Net financial investment Net acq . of finan. assets -Net incr. in liabilities 126 11-538 11,412 11 ,688 31 32 Gross investment of household sector- from Flow of Funds Accounts 57,788 = Change in net worth 816-540 188,150 849,222 187,941 951,372 207,475 1043,281 227,593 1101,069 Net worth outstanding 239,795 Disposable personal income 31 32 April 1990 Households Households 62 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1954 1955 1956 1957 1958 Households - Personal Trusts- and Nonprofit Organizations 1 Gross investment of household sector, from Flow of Funds Accounts 62,145 58,136 68,491 74,651 76,998 76,065 79,937 82,012 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 51,646 10,499 23,671 13,172 51,995 6,141 18,335 12,194 63,418 5,073 25-777 20,704 62,447 12,204 28,479 16,275 62,090 14-908 27,385 12,477 59,154 16-911 29-797 12-886 69,394 10,543 33,239 22-696 69-359 12-653 30,289 17,636 6- Capital consump. allow.,NIPA 27,777 30,763 32,353 36,142 38,934 40,980 43,078 44,591 = Net investment flow, 7 Balance Sheet basis 34,368 27,373 36,138 38,509 38,064 35,085 36,859 37,421 8 - Depreciation valuation adj. 9 Depreciation charges 10 -Cap. consump. allow., NIPA 198 27,975 27,777 200 30,963 30,763 206 32,559 32,353 214 36,356 36,142 218 39,152 38,934 222 41,202 40,980 229 43,307 43,078 236 8 44,827 9 44,591 10 11 + Reval. of physical assets 12 Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis -2,068 21-603 27,975 51,646 -259 20,773 30,963 51-995 2,98 7 33,846 32,559 63,418 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 11 12 13 14 15 16 17 18 -2,068 -632 -170 -1,266 -259 2,651 -34 -2,876 2,987 4,501 921 -2,435 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 15 16 17 18 19 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + Change in the value of land holdings 20 + Reval. of corporate equities 21 Change in value 22 -Net purchases 23 24 25 + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 + Reval. of noncorp. equity 27 Change in value 28 -Net inv. in noncorp. bus. 29 + Other revaluations 30 = Change in net worth 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 2-540 3,4 78 4,514 9,173 3,641 3,865 4,190 -9,057 -8,015 1,042 71,890 72,605 715 50,161 51,274 1,113 16,780 18,794 2,014 -39,163 -37,705 1,458 104,177 105-929 1,752 28,114 28,680 566 -6,513 20 -6,534 21 -21 22 4 7,966 7,862 53 7,877 7,824 2,265 10,797 8,532 5 9,514 9,509 -662 8-826 9,488 2,733 13,111 10,378 1,246 13,115 11,869 88 23 11,636 24 11,548 25 2,622 2,279 -343 7,636 5,411 -2,225 13,320 10,902 -2,418 19,166 17,525 -1 ,641 14,317 13,190 -1 , 127 15,158 15,233 75 11,382 7,905 ^-3,477 8,710 26 5,872 27 -2,838 28 -1 1 1 1 412 28,211 - 109,970 109,180 91,764 12,091 - 164,220 80,827 1129,280 255, 105 1239,250 260,597 1348-430 278,771 1440-194 297,542 1452,285 313-969 1616,505 324,886 1697,332 344,629 1742-976 31 358,928 32 April 1990 Households Households Factors Accounting for Change in Net Worth 63 Annual Flows Annual Flows 1962 1963 1964 1965 1966 1967 Households, Personal Trusts, and Nonprofit Organizations 1 83, 171 90 < ,799 96 ,373 108,506 119,715 133,380 140,775 147,029 2 3 4 5 66, 145 17, 026 34, 906 17, 880 72, 481 18, 318 39, 794 21, 476 79,• 017 17,,356 46, 600 29, 244 85,057 23,449 53,070 29,621 92,321 27,394 58,277 30,883 97,436 35,944 59,422 23,478 98,269 42,506 67,739 25,233 113,974 33,055 68,730 35,675 6 46, 264 47, 620 49,,522 51,889 54,042 56,961 61,773 Gross investment of household sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 67,619 - Capital consump. allow.,NIPA 6 = Net investment flow, 79,410 Balance Sheet basis 7 7 36, 907 43, 179 46,,851 8 9 10 244 46, 508 46, 264 256 47, 876 47,,620 270 49,,792 49,,522 286 52,175 51,889 308 54,350 54,042 337 57,298 56,961 361 62,134 61,773 11 12 13 14 -1 -596 18,• 041 46, 508 66, 145 -2,>888 21,,717 47,,876 72 ,481 -6,,719 22 ,506 49 ,792 79 ,017 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 15 16 17 18 -1,>596 -580 304 -1 ,320 -2.,888 -202 430 -3 ,116 -6 ,719 - 5 ,925 594 -1 ,388 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 19 4 ,111 3 ,816 2 ,883 20 21 22 104 ,282 105 ,346 1 ,064 -62 ,281 -63 ,711 -1 ,430 78 ,007 76 ,420 -1 ,587 50,940 50,625 -315 72,393 70,766 -1,627 -59,999 -60,133 -134 147,814 144,521 -3,293 143,397 137,176 -6,221 23 24 25 4 ,201 16 ,284 12 ,083 -3 ,274 9,750 13 ,024 3 ,926 17 ,800 13 ,874 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 26 27 28 9 ,757 9 ,808 51 10 -721 10 ,779 58 10 ,006 11 ,116 1 ,110 16,462 15,656 -806 20,924 21,183 259 27,878 27,473 -405 -1,080 17,844 16,764 13,829 + Reval. of noncorp. equity 10,862 Change in value -2,967 -Net inv. in noncorp. bus. 29 -255 679 154 30 157 ,163 -10 ,304 134 ,838 31 32 1900 ,139 373 ,774 1889 ,835 396 ,167 2024 ,673 415 ,834 Data are in millions of dollars. 393 - Depreciation valuation adj. 8 68,012 Depreciation charges 9 67,619 -Cap. consump. allow., NIPA 10 43-437 + Reval. of physical assets 89,399 Change in value 68,012 Depreciation charges 113,974 -Gross purchases, FOF basis 43,437 35,525 3,832 4,080 13,134 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + 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 -249 + Other revaluations 299,155 = Change in net worth 2162,619 451,413 2326,595 486,808 2403,459 525,910 2675,742 562,092 1 2 3 4 5 Memo: 2974,897 Net worth outstanding 609,582 Disposable personal income 11 12 13 14 15 16 17 18 19 April 1990 Households Households Factors Accounting for Change in Net Worth 64 Annual Flows Annual Flows 1969 1970 Households, Personal Trusts, and Nonprofit Organizations 1 2 3 4 5 Gross investment of household sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 - Capital consump. allow.,NIPA = Net investment flow, Balance Sheet basis 149,131 171,906 189,827 216,116 263,412 240,604 295,621 315,240 1 121,503 27,628 58,911 31,283 119,405 52,501 74,408 21,907 140,873 48,954 95.463 46,509 164,170 51,946 118,521 66,575 183,396 80,016 151,561 71,545 180,396 60,208 110,673 50,465 193,876 101-745 153,764 52,019 237,517 77,723 170,329 92,606 2 3 4 5 75,325 82,319 90,201 97,377 106,567 120,828 137,106 151,657 6 73,.806 89,,587 99 , ,626 118, 739 156,,845 119, 776 158 ,515 163,,583 8 - Depreciation valuation adj. 9 Depreciation charges 10 -Cap. consump. allow., NIPA 444 75,,769 75,.325 469 82, 788 82, 319 505 90 ,706 90,,201 548 97, 925 97, 377 618 107,,185 106 ,567 368 121 ,196 , 120,.828 423 137 ,529 137 , 106 473 152 ,130 151 ,657 11 + Reval. of physical assets 12 Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 36 = ,179 81,'913 75,,769 121,.503 27, 030 63, 647 82, 788 119, 405 43 ,790 93 ,957 90, 706 140,,873 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 27,,030 13,,864 4,,368 8,,798 43,,790 41 ,857 6 ,384 -4 ,451 86 ,209 74,,411 7 ,190 4 ,608 145, 218 86, 493 14, 945 43,.780 7 15 16 17 18 19 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + Change in the value of .and holdings 20 + Reval. of corporate equities 21 Change in value 22 -Net purchases 23 24 25 + Reval. of life insurance & pension fund reserves Change in value -Net acquisitions 26 + Reval. of noncorp. equity 27 Change in value 28 -Net inv. in noncorp. bus. 29 + Other revaluations 30 = Change in net worth 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 36,. 179 28, 461 4,,428 3,,290 47,• 731 46,,296 5,,274 -3,,839 78,,199 50 ,934 4 , 126 23 ,139 110- 877 89, 335 7 ,397 14 , 145 12 ,099 7,,459 16 ,594 19,,694 35 ,934 31 .762 , 18 ,866 57 ,437 -109 ,551 -111 ,779 ,228 —16,,807 -17,,536 -729 108 ,132 103 ,814 -4 ,318 96,,207 87 ,403 —8,,804 -206 ,854 -211 ,113 -4 ,259 -213, 476 -215,.580 ,104 151 ,874 145 ,684 -6 ,190 117 ,447 116 ,955 -492 -6 ,084 15 ,753 21 ,837 2 ,201 26 ,390 24 ,189 15 ,451 43 ,428 27 ,977 11 ,841 60 ,292 48 ,451 -25 ,868 14 ,018 39 ,886 -29,,243 14 ,466 43,,709 34 ,895 106 ,816 71 ,921 49 ,378 43 ,323 -6 ,055 23 ,691 19 ,283 -4 ,408 45 ,250 43 ,050 -2 ,200 72 ,508 63 ,846 -8 ,662 123 ,722 134 ,947 11 ,225 121 ,624 91 ,364 -30 ,260 • 102,810 83 ,503 -19 ,307 956 -1 ,517 -2 ,391 -1 ,293 -5 ,184 56 ,339 131 ,175 325 ,947 364 ,879 164 , 186 3031 ,236 656 ,687 3162 ,411 715 ,595 3488 ,358 776 ,784 3853 ,237 839 ,596 4017 ,423 949 ,769 15 • 572 72 ,214 56 ,642 155 ,438 129 ,672 -25 ,766 3 ,477 2 ,834 -111 178,,770 547 ,570 619 ,770 4196 ,193 1038 ,372 4743 ,763 1142 ,782 5363 ,533 1252 ,645 April 1990 Households Households Factors Accounting for Change in Net Worth r - O D Annual Flows Annual Flows Households, Personal Trusts, and Nonprofit Organizations Gross investment of household sector, from Flow of Funds Accounts 1 358,,981 388 ,252 418,,693 447 ,535 512 ,923 544 ,178 617 ,793 700 ,079 2 3 4 5 284,,225 74,, 756 215,.199 140, 443 327 60 230 170 ,703 ,549 ,867 ,318 356,,068 62,,625 237,,349 174,,724 342 ,694 104 841 232 ,873 128 ,032 362 ,050 150 ,873 268 ,177 117 • 304 354 ,980 189 ,198 279 ,219 90 ,021 436 181 380 199 506 ,184 193 ,895 427 ,311 233 ,416 6 169,,015 190,,344 215,,204 243 ,638 264 ,363 280 ,913 295 ,297 309 ,394 - Capital consump. allow.,NIPA 309,394 6 7 ,525 ,268 ,790 ,522 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 1 2 3 4 5 7 189,,966 197,,908 203,,489 203 ,897 248 ,560 263 ,265 322 ,496 = Net investment flow. 390 ,685 Balance Sheet basis 8 9 10 548 169,,563 169,,015 644 190 988 190,,344 773 215,,977 215,,204 909 244 ,547 243 ,638 1 ,030 265 ,393 264 ,363 1 ,113 282 ,026 280 ,913 1 ,160 296 ,457 295 ,297 1 ,242 - Depreciation valuation adj. 8 310 ,636 Depreciation charges 9 309 ,394 -Cap. consump. allow., NIPA 10 11 12 13 14 164,,050 278,•712 169,,563 284,,225 220,,464 357,,179 190 ,988 327,,703 184, 774 324,,865 215,,977 356 ,068 188 287 244 342 ,930 ,077 ,547 ,694 162 ,094 258 ,751 265 ,393 362 ,050 -67 ,382 5 ,572 282 • 026 354 ,980 113 253 296 436 28 ,590 + Reval. of physical assets 224 ,138 Change in value 310 ,636 Depreciation charges 506,,184 -Gross purchases, FOF basis 11 12 13 14 15 16 17 18 164, 050 134,.076 10, 536 19, 438 220,,464 159,,383 24,,899 36,,182 184,,774 126,,907 7 ,029 50,,838 188 ,930 108 ,864 17 ,308 62 ,758 162 ,094 105 ,579 17 ,376 39 ,139 -67 ,382 -78 ,854 3 ,504 7 ,968 113,,532 98 ,394 12,,646 2,,492 28 ,590 38 ,604 9 ,703 -19,,717 15 16 17 18 19 82,,172 105 ,596 103 ,709 82 ,159 124 ,350 92,,209 55,,905 20 21 22 -38,, 146 -45 ,491 -7 ,345 8 ,652 - 3 ,872 -12 ,524 177,,474 152 ,001 -25,,473 316 ,301 306 •431 - 9 ,870 -23 ,845 -59 ,514 -35 ,669 147 ,389 136,,063 -11 ,326 180,,404 180,,926 522 ,024 + Reval. of corporate equities 20 73, 73,024 19,,672 Change in value 21 -53,,352 -Net purchases 22 23 24 25 -16 ,185 62 ,375 78 ,560 17 ,354 112 ,376 95 ,022 14,,423 116,,257 101 , ,834 40,,225 158 ,728 118,,503 -27 ,833 90,,078 117,,911 41, 403 189,,450 148,,047 61, 682 220, 855 159, 173 -12, 555 145,• 102 157, 657 Reval. of life insurance £ pension fund reserves Change in value -Net acquisitions 23 24 25 26 27 28 176 ,743 156 ,517 -20 ,226 278 ,382 246 •455 -31 ,927 327,,933 262,,712 -65, 221 330,,300 253, 444 -76, 856 272, 642 224, 282 -48,,360 63, 610 -27,• 772 -91,,382 129, 230 49, 596 -79, 634 42,,649 -43, 869 -86, 518 Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 26 27 28 Other revaluations 29 Change in net worth 30 5 , 151 ,532 ,600 ,457 ,525 29 -1 ,190 5 ,548 -55 1,,468 -4, 937 8, 408 23, 638 3, 861 30 556 ,862 833 ,260 1010,,974 1162,,371 750, 001 460, 731 922, 031 580, 917 31 32 5920,395 1379,341 6753,655 1551,229 7764,629 1729,321 8927,000 1917,973 9677,001 2127,584 10137,732 2261,425 11059,763 2428,100 Data are in millions of dollars. Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables • Change in the value of land holdings Memo: 11640,680 Net worth outstanding 2668,600 Disposable personal income 19 31 32 April 1990 Households _ Households Li Factors Accounting for Change in Net Worth Annual Flows Annual Flows Households, Personal Trusts > and Nonprofit Organizations 1 2 3 4 5 Gross investment of household sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 - Capital consump. allow.,NIPA = Net investment flow. Balance Sheet basis 677 ,568 770, 255 766,,378 826,,147 911, 372 1 548 ,885 128 ,683 435 ,372 306 ,689 603,,777 166,,478 465, 551 299,,073 643,,373 123,,005 384,.043 261,,038 698,,515 127,,632 425 • 053 297 ,421 736,,560 174, 812 446,156 271, 344 2 3 4 5 332 ,303 361,,699 390,,118 412,,092 432, 761 6 345 ,265 408,,556 376 ,260 414,,055 478, 611 7 8 - Depreciation valuation adj. Depreciation charges 9 -Cap. consump. allow., NIPA 10 6 ,100 338 ,403 332 ,303 468 362 > 167 361,,699 302 390 ,420 390,,118 8 ,480 420 ,572 412,,092 23, 734 456,,495 432,,761 8 9 10 11 • Reval. of physical assets Change in value 12 Depreciation charges 13 -Gross purchases, FOF basis 14 32 , 159 242 ,641 338 ,403 548 ,885 73 ,622 315 ,232 362 ,167 603 ,777 169 422 390 643 ,247 .200 ,420 ,373 44 ,098 322 ,041 420,,572 698 ,515 103,,506 383, 571 456,,495 736, 560 11 12 13 14 Revaluation by type of asset Residential structures Nonres. plant S equipment Consumer durables 32 , 159 27 ,798 5 ,491 -1 ,130 73 ,622 55 ,977 7 ,131 10 ,514 169 ,247 150 ,324 10 .971 7 ,952 44 098 20 ,567 7 ,696 15 ,835 103,,506 92,,796 16,,421 -5,,711 15 16 17 18 50 ,237 122 , 150 119 ,876 71 ,174 107 136 19 398,,459 318 ,088 -80 ,371 20 21 22 7 15 16 17 18 19 + Change in the value of land holdings 20 + Reval. of corporate equities Change in value 21 -Net purchases 23 24 25 + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 + Reval. of noncorp. equity Change in value 27 -Net inv. in noncorp. bus. 28 29 + Other revaluations 30 = Change in net worth Memo: 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 481 ,544 447 ,213 -34 ,331 301 ,980 318 ,380 16 ,400 -56 ,316 -81 ,148 -24 ,832 215 ,675 99 ,926 -115 ,749 94 ,783 280 ,349 185 ,566 70 ,681 273 ,537 202 ,856 21 ,134 216 ,321 195 ,187 125 ,697 335 ,939 210 ,242 218 ,248 381,,429 163 , 181 23 24 25 53 ,847 -35 ,314 -89 ,161 84 ,921 37 ,716 -47 ,205 210 ,266 115 ,041 -95 ,225 147 ,084 58 ,172 -88 ,912 261 ,427 166 ,858 -94 ,569 26 27 28 1 ,626 -1 ,708 7 ,380 23 ,672 14 652 29 1053 ,361 1059 ,734 847 ,545 1032 ,975 1558 ,305 30 12694 ,041 2838 ,700 13753 ,775 3013 ,325 14601 ,320 3205 ,975 15634 ,295 3477 ,800 17192 ,600 3779 ,350 31 32 April 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 67 Factors Accounting for Change in Net Worth 1945 1946 1947 1948 1949 1950 1951 1952 2, 092 2, 338 2, 670 2,894 3, 662 -1,,570 -424 1,,146 5, 309 -2, 971 33 3, 004 5, 778 -3, 108 259 3,,367 3,571 -677 -13 664 Farm Business 1 1, 858 1, 550 1, 277 1. 611 -61 1, 184 1, 245 6,-042 —4 i.184 90 4,,274 Gross investment of farm business sector, from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 5 2, 220 943 1,857 2, 800 6 2, 380 547 3 ,277 560 1,,663 1 =644 -271 + Proprietors' net investment 6 7 1,,212 1,,500 1 ,817 ,069 2! ,305 21 ,671 2! 2,925 - Capital consump.allow., NIPA 7 8 9 597 2 !445 3 ,318 = Net investment flow. Balance Sheet basis -302 8 583 1,,696 1,,643 98 2,,769 2,,671 9 105 - Depreciation valuation adj. 10 Depreciation charges 3,030 -Cap. consump. allow., NIPA 11 2,925 -565 + Reval. of physical assets Change in value -24 Depreciation charges 3,030 -Gross purchases, FOF basis 3,571 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 54 1,,266 1,,212 65 1 ,565 1 ,500 74 1 ,891 1 ,817 81 2 ,150 2 ,069 87 2,,392 ,305 2, 15 8 ,271 9 ,225 1 ,266 2 ,220 6 ,301 6 ,347 1 ,565 1 ,611 - 2 ,192 1 ,959 1 ,891 6 ,042 -1 ,651 -139 2 ,150 3 ,662 i 6 ,514 9,,431 2:,392 5 ,309 2 ,795 5 ,804 2 ,769 5 ,778 19 8 ,271 1 ,567 1 ,239 5 ,465 6 ,301 1 ,725 1 ,417 3 ,159 - 2 ,192 629 645 -3 ,466 -1 ,651 187 -64 -1 ,774 6 ,514 780 756 4 ,978 2 ,795 614 911 ,270 1 -565 29 1,929 -2,523 20 5 ,073 1 ,337 802 -1 ,799 11 ,914 7 ,859 481 21 - 2 ,380 22 13 ,355 8 ,170 1 ,854 - 2 ,948 20 ,037 12 ,199 -491 = Change in net worth 22 23 92 ,473 100 ,643 102 ,497 99 ,549 119 ,586 131 ,785 Memo: 131,294 Net worth outstanding 23 5, 695 6, 080 •385 398 783 359 11 12 13 - - - - - - + Change in the value of land holdings 20 + Other revaluations 21 Nonfarm Noncorporate Business 1 2 3 4 5 3, 127 4, 044 •917 1, 309 2, 226 3 ;899 4, 997 -1, 098 1, 101 2, 199 4, 454 6, 729 -2, 275 358 2, 633 4, 716 4, 546 170 764 594 4, 999 8, 358 -3, 359 1, 773 5, 132 6 311 299 1, 212 -47 2, 166 Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts 6,009 Capital expenditures 6,460 Net financial investment -451 Net acq. of finan. assets 1,093 -Net incr. in liabilities 1,544 -258 + Proprietors' net investment 6,009 - Capital consump.allow., NIPA 7 3, 127 3,,899 4, 454 4,.716 4, 999 5, 695 8 -311 299 1, 212 -47 21,166 -359 9 10 11 -181 ,946 2• 3 ,127 ! -219 3 ,680 3 ,899 -241 4, 213 4,.454 -252 4 ,464 4 ,716 -262 4« 737 4, 999 -289 5, 406 5,,695 -301 - Depreciation valuation adj. Depreciation charges 5,708 -Cap. consump. allow., NIPA 6,009 12 13 14 15 11 ,514 12 ,612 2 ,946 4 ,044 12 ,288 13 ,605 3 ,680 4 ,997 5 •455 7 •971 4, 213 6 ,729 i 1 ,416 1 ,498 4 ,464 4 ,546 6 •380 10,,001 4 ,737 ,358 8! 7-,481 S .406 6-807 6,,080 1,110 + Reval. of physical assets Change in value 1,862 Depreciation charges 5,708 -Gross purchases, FOF basis 6,460 16 17 18 19 11 ,514 7 ,137 2 ,784 1 ,593 12 ,288 7 ,935 2 ,938 1 ,415 5,,455 ,500 S-. 1 ,241 714 1 ,416 1 ,564 330 -478 6 ,380 3 ,316 1 ,812 1 ,252 6 807 4 ,478 2 ,081 248 1,110 2,276 -918 -248 20 1 ,387 3 ,288 2 ,436 2 ,007 2 ,847 2 ,858 2,341 -258 = Net investment flow. Balance Sheet basis Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • Change in the value of land holdings 1 + Other revaluations 21 311 1 -82 22 13 ,082 16 ,095 9 ,262 3 ,628 11 ,655 9 ,595 3,495 = Change in net worth 23 126 ,925 143 ,020 152 ,282 155 ,910 167 ,565 177 ,160 Memo: 180,655 Net worth outstanding Data are in millions of dollars. - - - April 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business , 0 DO Annual Flows Factors Accounting for Change in Net Worth Annual Flows 1953 1954 1955 1956 1957 1958 1959 1960 Farm Business Gross investment of farm business sector, from Flow of Funds Accounts 3,031 3,179 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 1,445 1,586 -23 -1,609 2,442 737 -27 -764 6 + Proprietors' net investment -1,292 3,082 1 2 3 4 5 7 - Capital consump.allow., NIPA = Net investment flow, 8 Balance Sheet basis 3,442 3,548 3,627 3,695 3,304 138 -121 -259 2,508 1,040 -33 -1,073 4,126 -499 366 865 3,713 -602 -584 3,548 157 -336 -493 -1,637 -1,183 -2,365 -939 -2,939 -1,683 3,192 3,485 3,599 3,659 3,732 3,740 139 3,624 3,485 147 3,746 3,599 157 3,816 3,659 3,900 3,732 176 9 3,916 10 3,740 11 1,532 ,351 916 108 -808 - 1 8 -1,343 -1,650 9 - Depreciation valuation adj. 10 Depreciation charges 11 -Cap. consump. allow., NIPA 112 3,194 3,082 3,310 3,192 125 3,425 3,300 12 + Reval. of physical assets 13 Change in value 14 Depreciation charges 15 -Gross purchases, FOF basis 3,194 1,445 564 -304 3,310 2,442 137 3,425 2,351 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 12 13 14 15 16 17 18 19 1,087 -197 1,968 -684 564 24 1,831 -1,291 1,211 219 2,507 -1,515 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 16 17 18 19 20 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 1,087 -662 118 1,211 1,212 168 + Change in the value of land holdings 1,520 20 21 + Other revaluations - 21 22 = Change in net worth 1,150 22 Memo: 23 Net worth outstanding 162,650 23 Nonfarm Noncorporate Business 1 2 3 4 5 Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 + Proprietors' net investment 7 - Capital consump.allow., NIPA = Net investment flow, Balance Sheet basis 8 6, i 255 7 • 842 -1,,587 662 , 249 2• 6, 462 7,812 -1, 350 667 2, 017 6 ,778 9,,526 ,748 -2 i 283 3 ,031 • 7, 355 7, 183 172 1, 779 607 1, 7 • 784 ! 9 ,549 -1 ,765 , 349 2,,114 7, 986 8 T729 743 2, 410 3,• 153 8 ,226 10 ,890 -2.,664 -1 • , 568 1,,096 8 ,469 10,,086 -1,,617 -57 1-,560 1 2 3 4 5 949 •588 13 458 1,,238 1, 014 -538 6 ,255 6, 462 6 ,778 7, 355 7,,784 7, 986 8 ,226 8, 469 7 538 -1 ,155 8 -1 • 155 6 949 -588 13 -458 1 ,238 1 ,014 9 10 11 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -311 5 ,944 6 ,255 -320 6 ,142 6 ,462 -331 6 ,447 6 ,778 -352 7 ,003 7 ,355 -369 7 ,415 7 ,784 -380 7 ,606 7 ,986 -396 7 • 830 8 • 226 12 13 14 15 + Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 185 2 ,083 5 ,944 7 ,842 788 2 ,458 6 ,142 7 ,812 4:,253 7 ,332 6 • 447 9,,526 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 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 185 1 ,702 -1 ,757 240 788 2 ,155 -1 ,447 100 4i -253 3,,665 268 320 6 ,419 3 ,216 2.,659 544 1 ,459 1 ,835 -637 261 1 ,740 1,,699 -365 406 1,,056 1,,906 -295 -555 649 1 ,890 -803 -438 16 17 18 19 2 ,467 3 ,010 3 ,345 • 4,,616 3 ,831 3,,505 3,,590 4 ,895 20 -2 1 -1 -2 1 3 16 17 18 19 > 20 Change in the value of land holdings 21 * Other revaluations 22 = Change in net worth 3:,910 3,,531 7, 941 10,,929 6,,895 Memo: 23 Net worth outstanding 184 i ,565 188,,096 196; 037 206, 966 213- 861 Data are in millions of dollars. - 6,• 640 220, 501 -413 9 8 ,056 10 8 ,469 11 - 21 4,,507 4,,802 22 225, 008 229,,810 23 April 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 69 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1964 1965 1966 1967 Farm Business 3,705 3.761 3,690 3,883 4,092 4,370 4,593 4,895 3,711 85 91 4,168 -407 134 541 4,637 -947 -40 907 3,985 -102 392 494 6,458 -2,366 280 2,646 5,897 -1,527 207 1,734 7,046 -2,453 363 2,816 6,351 -1,456 579 2,035 -1,608 -1,763 -2,505 -2,295 -1,201 -1,866 —6 3,734 3,807 3.762 3,893 4,046 4,288 Gross investment of farm business sector, from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 -287 242 • Proprietors' net investment 6 4,552 4,852 - Capital consump.allow., NIPA 7 = Net investment flow, 285 Balance Sheet basis 8 9 10 11 183 3,917 3,734 192 3,954 3,762 203 4,010 3,807 212 4,105 3,893 227 4,273 4,046 245 4,533 4,288 265 4,817 4,552 288 - Depreciation valuation adj. 9 5,140 Depreciation charges 10 4,852 -Cap. consump. allow., NIPA 11 12 13 14 15 1,027 821 3,917 3,711 1,884 2,098 3,954 4,168 710 1,337 4,010 4,637 475 355 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 + Reval. of physical assets 5,991 Change in value 5,140 Depreciation charges 6,351 -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 1,027 -176 1,039 164 1,884 -142 1,246 780 710 -348 1,187 -129 475 256 602 -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 16 17 18 19 -14,046 20 - 21 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 20 + Other revaluations 21 -9,269 = Change in net worth 22 Memo: 205,657 Net worth outstanding Nonfarm Noncorporate Business 8-635 11,667 -3,032 544 3,576 8,864 13,274 -4,410 -130 4,280 9,155 15,332 -6,177 -46 6,131 1,659 1,821 3,615 9,569 15,926 -6,357 625 6,982 10,101 17,351 -7,250 367 7,617 10,850 16,254 -5,404 869 6,273 11,614 17,243 -5,629 918 6,547 Gross investment of nonfarm noncorporate business sector, 12,583 from Flow of Funds Accounts 18,622 Capital expenditures -6,039 Net financial investment -705 Net acq. of finan. assets 5,334 -Net incr. in liabilities 1,489 1,460 1,461 -793 -3,209 + Proprietors' net investment 6 12,583 - Capital consump.allow., NIPA 7 9,155 8,635 209 = Net investment flow, Balance Sheet basis 11 -430 8,205 8,635 -448 8,416 8,864 -475 8-680 9,155 -499 9,070 9,569 -537 9,564 10,101 -583 10,267 10,850 -629 10,985 11,614 -684 - Depreciation valuation adj. 9 11,899 Depreciation charges 10 12,583 -Cap. consump. allow., NIPA 11 12 13 14 15 -461 3,001 8,205 11,667 1 ,091 5,949 8,416 13,274 -1-853 4,799 8,680 15,332 3,310 10,166 9,070 15,926 11,081 3,294 9,806 15,793 10,267 16,254 5,098 11,356 10,985 17,243 17,149 + Reval. of physical assets 23,872 Change in value 11,899 Depreciation charges 18,622 -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 -461 1,492 -359 -1,594 1,091 1 ,005 -120 206 -1,853 -954 252 -1,151 3,310 3-007 993 -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 16 17 18 19 3,507 4,218 3,968 8,443 2,252 4,858 9 10 20 21 3,514 -1 6,873 2 5,746 1 9,517 9,564 17,351 -1 9,258 -9 8 20,284 7,194 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings + Other revaluations 19,482 = Change in net worth 313,455 Net worth outstanding Data are in millions of dollars. April 1990 Farm 8 Noncorporate Business 70 Farm 8 Noncorporate Business Factors Accounting for Change in Net Worth Annual Flows Annual Flows Farm Business 1 2 3 4 5 Gross investment of farm business sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 + Proprietors' net investment 7 - Capital consump.allow. , NIPA = Net investment flow. 8 Balance Sheet basis 5,312 6,780 -1,468 536 2,004 5, 639 5, 957 61 777 7, ,827 8,,530 10, 336 11, 215 1 7, 387 -1, 748 604 2,,352 9, 141 -3, 184 691 3, 875 9,,276 - 2 ,499 936 3,,435 14,.082 - 6,,255 843 7,,098 11 ,211 . -2,.681 594 3,,275 16: 904 -6, 568 997 7, 565 13, 570 • 355 1, 426 3,,781 2 3 4 5 -653 107 •978 -2:,365 -1 ,837 -4,,871 -1,,700 -7,,028 6 5,251 5,,631 5, 942 6,,605 7 ,228 8,,308 9,,789 10 ,771 7 -592 115 -963 -1 ,238 -4 ,649 -1,,153 — 6 ,584 3 467 7 ,695 7 ,228 549 8 ,857 8 ,308 672 10 ,461 9 ,789 768 ,539 11 10 7 ,692 12 9,,723 11 .539 13,,570 , 193 "2 ! 9 - Depreciation valuation adj. 10 Depreciation charges 11 -Cap. consump. allow., NIPA 320 5,571 5,251 349 5,• 980 5i ,631 373 6,.315 5 ,942 12 + Reval. of physical assets 13 Change in value 14 Depreciation charges 15 -Gross purchases, FOF basis 6,579 7,788 5,571 6,780 2• ! 123 3 ,530 • 5 980 7,,387 7,,404 10, 230 6 i315 9 ,141 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 16 17 18 19 6,579 1,353 2,625 2,601 2,,123 744 2 ,085 -706 7,,404 1,,666 2,,836 ,902 2! 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 • 141 -1 23,223 4 ,631 11,,919 23 ,904 54 ,431 29 ,682 46 ,328 -358 728 8 215 14 -11 18 ,715 34 ,991 77 ,638 39 ,326 259 ,424 294 415 372 ,053 411 ,379 461 ,533 19 965 42,,492 -22,,527 6,,287 28,,814 22- 677 32, 931 -10, 254 4 799 15, 053 26, 107 25, 609 498 1,883 1, 385 20 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 21 + Other revaluations - 22 - Change in net worth 28,890 23 Net worth outstanding 234,547 6 , 162 240 ,709 421 7,,026 6 ,605 5 ,500 50 , 154 10 11 13 14 15 7 .692 16 3,210 17 7 .035 18 -555 19 20 -37 21 70 ,999 71 ,302 22 532 ,835 23 Nonfarm Noncorporate Business Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 17,,989 39,, 139 -21,. 150 6, 484 27,,634 28,.514 27,• 350 1, 164 8- 812 7,,648 1 2 3 4 5 13, 831 22,,901 -9, 070 1,,523 10,,593 14, 971 23, 695 -8, 724 1 ,319 , 10,.043 16, 426 30, 169 -13, 743 7, 169 20, 912 6 + Proprietors' net investment -5,,402 -4,,515 -1, 222 -6 ,297 12,,112 -26, 145 -18,,036 -18, 546 6 7 - Capital consump.allow., NIPA 13 ,831 14,,971 16, 426 17 ,989 19,,965 22 ,677 26,,107 28,,514 7 -18,,036 -18, 546 8 1 2 3 4 5 = Net investment flow. Balance Sheet basis - 5 ,402 -4',515 — 1,222 -6 ,297 12,,112 -26,, 145 9 - Depreciation valuation adj. Depreciation charges 10 -Cap. consump. allow., NIPA 11 -765 13 ,066 13 ,831 -817 14 ,154 14 ,971 880 15, 546 16, 426 -967 17 ,022 17 ,989 -1 ,087 18 ,878 19 ,965 -918 21 ,759 22 ,677 -1, 093 25,,014 26,, 107 -1,,243 9 27 • 271 10 28, 514 11 12 + Reval. of physical assets Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 15 15 ,473 25,,308 13 ,066 22 ,901 11 ,310 20,,851 14 . 154 23,,695 19, 682 34- 305 15, 546 30, 169 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 46 27 27 ,907 ,986 ,271 ,350 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 15 ,473 10 ,749 4 ,927 -203 11,,310 5 ,207 5 ,665 438 19, 682 11, 018 6, 852 1,812 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 16 17 18 19 5 ,626 4 ,058 6, 912 18 ,766 25 ,841 26 ,233 23 ,638 33 ,957 20 -7 1 ,883 607 -12 - 7 ,850 1 -36 -8 21 22 = Change in net worth 16 ,455 13 ,553 25, 645 31 ,304 61 ,794 54 ,035 36 ,430 63 ,553 22 Memo: 23 Net worth outstanding 329 ,910 343 ,463 369, 108 400 ,412 462 ,206 516 ,241 552,,671 616 ,224 23 8 16 17 18 19 20 + Change in the value of land holdings 21 + Other revaluations Data are in millions of dollars. - - April 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Factors Accounting for Change in Net Worth y ^ Annual Flows Annual Flows 1977 1978 1979 1980 1981 1982 1983 1984 22,,978 23,,168 4 ,146 18 832 1 ,267 -17 ,565 20,,102 3,,066 239 -2,,827 Farm Business 1 12, 390 14, 459 16, 258 18, 058 19,,586 20,,952 2 3 4 5 19, 088 -6, 698 1,814 8, 512 20, 870 -6, 411 2, 067 8 9478 26, 235 -9, 977 2, 072 12, 049 14, 138 3, 920 1, 973 -1, 947 24,,116 -4,,530 1,,854 6,,384 13,,805 7,, 147 1, 806 -5,,341 6 -6, 129 -9, 393 -12, 621 -18, 728 -10,>797 -12,,400 -20 ,734 -1,,308 7 12, 099 13, 557 15, 343 17,,591 19,,363 20 ,455 22 ,400 22,,500 -5,,838 -8,,491 -11, 706 -18,,261 -10,,574 -20 ,156 -640 9 10 11 891 12,,990 12 ,099 1,,027 14 584 13 ,557 1.,193 16, 536 15,,343 1,,399 18 990 17,-591 1 ,570 20 ,933 19 ,363 1 ,680 22 ,135 20 ,455 106 22 ,506 22 ,400 100 22,,600 22,,500 12 13 14 15 10 ,969 17 ,067 12 ,990 19 ,088 33 ,290 39 ,576 14 ,584 20 ,870 18 • 034 27,,733 16 ,536 26 ,235 31 ,021 26 ,169 18 ,990 14 ,138 11 ,553 14 ,736 20 ,933 24 ,116 5 ,441 - 2 ,889 22 ,135 13 ,805 22 ,820 4 ,460 22 ,506 4 , 146 4 ,548 2 ,050 22,,600 20,,102 16 17 18 19 10 ,969 4 ,600 8 ,350 -1 ,981 33 ,290 5 ,546 15 ,474 12 ,270 18 ,034 5 ,363 10 ,716 1 ,955 31 ,021 4 ,846 16 ,447 9 ,728 11 ,553 4 ,549 15 ,702 - 8 ,698 5 ,441 -540 6 ,837 -856 22 ,820 3 ,156 12 ,072 7 ,592 4,,548 2,,206 7 ,997 -5 ,655 20 45 ,536 80 ,824 101 ,678 68 ,591 -10 ,358 -38 ,978 -17 ,873 -114 ,122 -4 ,071 1 8 21 - -21 - - -11 ,903 ' - 22 49 ,776 104 ,596 106 ,792 79 ,952 -15 ,020 -47 ,119 -15 ,315 23 582 ,611 687 ,207 793 ,999 873 ,951 858 ,931 811 ,812 796 ,497 farm business sector, from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 + Proprietors' net investment 6 - Capital consump.allow., NIPA 7 Net investment flow, Balance Sheet basis 8 Depreciation valuation adj. 9 Depreciation charges 10 -Cap. consump. allow., NIPA 11 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 + Change in the value of land holdings 20 62 + Other revaluations 21 -110 ,252 = Change in net worth 22 M emo: 686 ,245 Net worth outstanding 23 + Nonfarm Noncorporate Business ,935 ,312 ,377 ,659 ,036 49 ,850 46 ,594 3 ,256 8 .889 5 ,633 57,,359 71,,518 -14,,159 4,,398 18 ,557 63 ,767 65,,212 -1 ,445 5 ,590 7 ,035 64,•181 68,,454 -4,,273 32,,786 37,,059 Gross investment of nonfarm noncorporate business sector, 67,,383 from Flow of Funds Accounts Capital expenditures 81,,674 Net financial investment -14 ,291 Net acq. of finan. assets 47,,977 62,,268 -Net incr. in liabilities 1 2 3 4 5 -22 ,796 -53,,321 -58 ,844 -38,,064 -80,,310 -59,,774 -86,,850 + Proprietors' net investment 6 36,,564 42 ,935 49 ,850 57,,359 63,,767 64 ,181 , 1 2 3 4 5 31,,945 39,,282 -7,,337 16-,363 23,,700 36 ,564 47 ,366 -10 ,802 20 ,669 31 ,471 6 -13 ,865 7 31,,945 42 44 -1 21 23 67,,383 - Capital consump.allow., NIPA = Net investment flow. -86,,850 Balance Sheet basis 7 -22,,796 -53, 321 -58, 844 -38, 064 -80,,310 -59,,774 9 10 11 -1 ,440 30 ,505 31 • 945 -1,,673 34 891 36,,564 -1,,967 40,,968 42 ,935 -2, 308 47,,542 49,,850 603 54, 756 57, 359 -2,,782 60 ,985 63,,767 -1 ,259 62,,922 64 ,181 -1 ,321 6 6,,062 67 ,383 12 13 14 15 65 ,559 74 ,336 30 ,505 39 ,282 96 ,813 109,,288 34,,891 47,,366 122 ,083 125 ,427 40 ,968 44 ,312 132 131 47 46 ,033 ,085 ,542 ,594 120, 074 136,,836 54 756 71,,518 36 ,309 40,,536 60 ,985 65,,212 52,,292 57,,824 62,,922 68,,454 66 ,966 82 ,578 66,,062 81,,674 16 17 18 19 65 ,559 50 ,760 16,,205 -1,,406 96,,813 66,,515 30. 478 -180 122 ,083 98 ,859 19 ,191 4 ,033 132 ,033 98 ,270 31 ,524 2 ,239 120 074 92 ,224 34,,925 -7,,075 36,,309 22,,788 11 ,972 1 ,549 52,,292 48, 284 3,,361 647 66 • ,966 62,,551 10,,525 -6 110 20 57, 013 73, 228 91,,947 102,,877 113,,136 55 ,942 69,,190 75,,592 21 311 -1 -1 40,,000 -2 -2 -4 22 110, 458 148, 918 162,,675 178,,373 237, 749 14 ,721 62,,965 57,,025 = Change in net worth 22 23 726, 682 875, 600 1038,,275 1216,,648 1454, 397 1469 ,118 1532, 083 Memo: 1589,,108 Net worth outstanding 23 8 -13 ,865 - Data are in millions of dollars. 8 Depreciation valuation adj. 9 Depreciation charges 10 -Cap. consump. allow., NIPA 11 + Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 + Change in the value of land holdings 20 + Other revaluations 21 April 1990 Farm & Noncorporate Business Farm 8 Noncorporate Business Factors Accounting for Change in Net Worth 72 Annual Flows Annual Flows 1985 1986 1987 1988 1989 Farm Business 1 Gross investment of farm business sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 22, 857 7, 361 15, 496 2,,668 -12,,828 21, 839 7,,658 14, 181 3, 233 -10,,948 21,,429 21,,908 22, 521 1 2 3 4 5 9 ,899 11,,530 2,,383 -9,,147 4,,001 17, 907 3,,119 -14,,788 8,,077 14, 444 2,-643 -11,,801 872 -8,,256 -13,,475 6 22,,000 21,,200 20 ,500 20,,536 20,,674 7 2,,794 5 ,766 1 ,801 -6,,884 -11,,628 8 9 - Depreciation valuation adj. Depreciation charges 10 -Cap. consump. allow., NIPA 11 149 22 ,149 22 ,000 446 21 ,646 21 ,200 582 21 ,082 20 ,500 -130 20,,406 20 ,536 -60 20 ,614 20 ,674 9 10 11 12 + Reval. of physical assets Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 15 -1 ,546 -16 ,334 22 ,149 7 ,361 3 ,632 -10 ,356 21 ,646 7 ,658 13 ,831 2 ,648 21 ,082 9 ,899 16 ,525 120 20 ,406 4 ,001 22 ,311 9 ,774 20 ,614 8 ,077 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories -1 ,546 1 ,404 3 ,107 -6 ,057 3 ,632 1 ,533 5 ,525 -3 ,426 13 ,831 3 ,714 5 ,923 4 ,194 16 ,525 1 ,288 5 ,127 10 ,110 22 ,311 2 ,935 19 ,207 169 16 17 18 19 -88 ,343 -52 ,185 31 ,092 53 ,134 20 6 + Proprietors' net investment 7 - Capital consump.allow., NIPA 8 = Net investment flow, Balance Sheet basis 16 17 18 19 20 + Change in the value of land holdings 21 + Other revaluations ,937 - 5,, 127 8 , 182 570 515 400 - 21 22 = Change in net worth -87 ,244 -42 ,663 23 ,747 41 ,263 63 ,877 22 Memo: 23 Net worth outstanding 599 ,001 556 ,338 580 ,085 621 ,348 685 ,225 23 Nonfarm Noncorporate Business 1 2 3 4 5 Gross investment of nonfarm noncorporate business sector. from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 70,• 502 84,-241 -13, 739 38,,760 52,,499 73, 411 88, 074 -14,,663 42, 301 56,,964 79 ,888 74 ,324 5 ,564 34 .706 29,,142 84,,396 71,,018 13,,378 28,,625 15 ,247 96,,077 60, 920 35, 157 29,,395 -5,,762 Proprietors' net investment -93,,118 -55, 254 -91 ,877 -84 ,471 -83,.041 70,,502 73,,411 79 ,888 84,,396 96,,077 -93,,118 6 7 - Capital consump.allow., NIPA Net investment flow, Balance Sheet basis -55,,254 -91 ,877 -84,,471 -83,,041 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -1,,389 69,,113 70 • 502 -1,,367 72,,044 73,.411 —4 ,227 75 ,661 79 ,888 - 5 '582 78 ,814 84 ,396 -12,,688 83,,389 96, 077 9 10 11 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 57,,502 72,,630 69,,113 84,,241 33, 641 49,,671 72, 044 88, 074 105 ,174 103 ,837 75 ,661 74 ,324 54 46 78 71 ,045 ,249 ,814 ,018 113,,805 91,,336 83,,389 60,,920 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 57 ,502 51 ,117 12 ,250 -5 ,865 33,,641 30,,645 9,,137 -6,,141 105 ,174 88 ,297 16 ,549 328 54 ,045 44 ,828 13 ,442 —4 • ,225 113 ,805 102,,907 14,,057 -3,,159 16 17 18 19 + Change in the value of land holdings 78 ,209 94,,618 74 ,975 44 ,429 58 ,362 20 21 + Other revaluations -1 -1 - 4 ,001 22 = Change in net worth 43 ,982 74,,371 92 ,498 15 ,584 101,,814 Memo: 23 Net worth outstanding 1633 ,090 1707,,461 1799 ,959 1815 ,543 1917,,357 8 9 10 11 12 13 14 15 * 16 17 18 19 20 Data are in millions of dollars. - - 21 22 April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 73 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1948 1950 Nonfinancial Corporate Business? Excluding Farms Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 6,717 12 278 15,740 17,933 16,298 21 ,714 22,354 18,713 -11,996 -1 ,356 10-640 18,038 —5,760 8,357 14,117 20,652 -4,912 4,965 9,877 14,866 3,067 3,516 449 23,971 -7,673 16,353 24,026 30,486 -8-772 7,387 16, 159 25,541 -3,187 4,576 7,763 1 ,018 1,093 1 ,000 1,212 1,288 7,375 -5-263 8,974 -5,899 10,424 -2, 152 11 ,204 1,856 12,023 -4,965 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 2,107 2,320 + Corporate equity issues - - Min. rights from U.S. govt. 6 7 13,833 -1, 199 14,840 - Capital consump.allow.- NIPA 1,000 - Inventory valuation adj. 8 9 8,834 = Net investment flow, Balance Sheet basis 10 11 12 13 7,373 7,375 8,974 8,974 10,424 10,424 11,204 11,204 12,022 12,023 13,833 13,833 2 - Depreciation valuation adj. 11 14,842 Depreciation charges 12 14,840 -Cap. consump. allow., NIPA 13 14 15 16 17 13-577 30,180 7,373 23,976 14-467 29,430 8,974 23,937 7,765 20,145 10-424 22,804 1,929 3,735 11 ,204 13,010 9,564 26,478 12,022 28,936 9,043 26-895 13,833 31 ,685 3,340 + Reval. of physical assets 13,039 Change in value 14,842 Depreciation charges 24,541 -Gross purchases (1) 18 19 20 13,577 14,467 151 13,388 928 7,765 -124 6,752 1,137 1,929 10 2,774 -855 9,564 -828 9,348 1,044 9,043 116 9,197 -270 21 13,209 368 3,340 -361 3,822 -121 2,999 23 24 25 26 27 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) + Change in the value of land holdings 14 15 16 17 18 19 20 21 22 230 230 390 1,139 749 538 1,259 721 415 1,075 660 467 1,088 621 683 1,191 508 890 + Reval. of fgn. dir. invest. 1,742 Change in value 852 -Direct investment 23 24 25 -4 -4 90 100 10 150 184 34 98 154 56 370 450 80 177 267 90 155 - Reval. of dir. inv. in U.S. 287 Change in value 132 -Direct investment 26 27 28 29 -1,018 30 18,779 -1 28,255 81 -2 • Other revaluations 19,156 15,904 = Change in net worth 29 30 Memo: 275,882 Net worth outstanding Tangibles and net worth on historical cost basis: 11,187 33 34 35 36 -991 17,677 5,308 23,976 -1,156 17,012 5-769 23,937 -956 15,300 6,548 22,804 -359 5,316 7,335 13,010 -1,334 19,486 8,116 28,936 -618 22,061 9,006 31,685 8,834 = Net investment flow -908 13,645 9,988 24,541 -261 38 39 40 -2,067 5,308 7,375 -3,205 5,769 8,974 -3,876 6,548 10,424 41 390 42 90 -1 81 43 -1,018 44 6,171 12,946 -3-869 7,335 11,204 -3-907 33 34 35 36 • Change in the value of land holdings 37 12,023 8,116 -4,827 9,006 13,833 538 467 683 890 + Reval. of fgn. dir. invest. 41 150 370 177 155 - Reval. of dir. inv. in U.S. 42 -4,852 - Depreciation valuation adj. 38 9,988 Depreciation charges 39 14,840 -Cap. consump. allow., NIPA 40 -2 + Other revaluations 12,101 13,250 = Change in net worth $60 180,710 Net worth outstanding (1) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 32 + Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) 43 44 April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 74 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1958 1959 1960 Nonfinancial Corporate Business, Excluding Farms 1 Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 22 , 065 22,682 25 ,483 25 ,931 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 25 , 998 -3,• 933 2,,298 6,,231 23,219 -537 4,864 5,401 32,,403 -6 ,920 16,,521 23,,441 37 , 059 -11 , 128 3 ,962 15 ,090 1<.766 1,583 1,,719 15,852 -1,000 16,765 -300 6 + Corporate equity issues 7 - Min. rights from U.S. govt. 8 - Capital consump.allow., NIPA 9 - Inventory valuation adj. 10 = Net investment flow, Balance Sheet basis 28 ,348 26,995 31 ,840 35 -7 4 11 ,678 ,330 ,219 ,549 , 27,765 -770 10,792 11 ,562 37 ,866 -6 ,026 14,, 168 20,,194 2,,250 2,,441 1 ,968 ,078 1 ,365 17,785 -1,750 20,032 -2,675 22,048 -1,525 23,059 -250 24,135 -277 25,134 -173 37,555 -8,435 3,922 12,357 8 ,979 7 ,800 11 ,167 10 ,824 10 ,266 6 ,154 10,060 5 ,524 11 - Depreciation valuation adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA 2 15 ,854 15 ,852 -1 16 ,764 16 ,765 -1 17 ,784 17 ,785 -1 20 ,031 20 ,032 2 22 ,050 22 ,048 23 ,059 23 ,059 24,135 24,135 1 25 ,135 25 ,134 14 + Reval. of physical assets 15 Change in value 16 Depreciation charges 17 -Gross purchases (1) 1 ,878 13 ,022 15 ,854 26 ,998 1 ,276 8 ,031 16 ,764 23 ,519 10 ,584 26 ,953 17 ,784 34 , 153 15 ,836 35 ,539 20 ,031 39,,734 6 ,571 21 ,724 22 ,050 37 ,203 1 ,921 6 ,877 23 ,059 28 ,015 3,943 17,951 24.135 38,143 -1 ,361 11,,232 25.,135 37,,728 1 ,878 -105 1 ,906 77 1 ,276 -554 1 ,634 196 10 ,584 -234 9 ,797 1,,021 15,.836 232 15,- 128 476 6 ,571 63 6 ,798 -290 1 ,921 -330 1 ,964 28 7 3,943 -293 3,748 488 -1,,361 239 -1,.796 196 18 19 20 21 22 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories CI) • Change in the value of land holdings 3,,987 5,,306 4,,642 7, 382 7,,559 6,,744 5,787 5, 097 23 + Reval. of fgn. dir. invest. 24 Change in value 25 -Direct investment 797 1,•532 735 711 1,,378 667 941 1, 764 823 1, 159 3, 110 1. 951 447 2, 889 2! ,442 834 2, 015 1,. 181 1,046 2,418 1,372 902 2, 038 2, 940 26 - Reval. of dir. inv. in U.S. 27 Change in value 28 -Direct investment 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 251 489 238 -9 306 315 29 + Other revaluations 299 307 405 98 100 -1 1 -1 -153 1 30 = Change in net worth 15, 192 14, 836 27, 189 35, 050 24, 746 15, 345 20,432 8, 367 Memo: 31 Net worth outstanding 291, 074 305, 910 333, 099 368, 149 392, 895 408, 240 428,672 437, 039 -1,762 19,209 13,182 34,153 -914 24,405 14,415 39,734 -1,270 20,233 15,700 37,203 -1,675 9,487 16,853 28,015 -671 19,547 17,925 38,143 -547 18,054 19,127 37,728 - Tangibles and net worth on historical cost basis: 32 = Net investment flow 33 34 35 36 37 • Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) land holdings 38 - Depreciation valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA 8,979 -678 15,304 11,016 26,998 -1 361 10 033 12 125 23 519 33 34 35 36 552 345 655 1,,212 745 1 ,514 1,,607 1,,519 37 —4,,836 11 ,016 15,,852 -4 ,640 12 ,125 16 ,765 - 4 ,603 13 ,182 17 ,785 -5,,617 14, 415 20,,032 -6 ,348 15 ,700 ,048 -6 ,206 16 ,853 23 ,059 -6,,210 17 ,925 24,,135 -6 !007 38 19, 127 39 25, 134 40 41 + Reval. of fgn. dir. invest. 797 711 941 1,,159 447 834 1,,046 902 41 42 - Reval. of dir. inv. in U.S. 148 258 246 151 96 307 251 -9 42 -299 - 100 -1 1 -1 •153 1 43 15:,458 17, 746 16,,441 12,,725 17,,848 11, 611 44 43 + Other revaluations 44 = Change in net worth 14,,039 45 Net worth outstanding 194,749 (1) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 11, 877 April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 75 Accounting for Change in Net Worth Annual Flows Annual Flows 1961 1962 1963 1964 1967 1968 56 ,469 57 ,176 59 ,557 ,274 ,780 ,808 588 75 ,433 -18,,964 16,,744 35,,708 71 ,433 -14 ,257 16 ,426 30 ,683 77 •019 -17 ,462 30 ,790 48 ,252 -28 1,,259 2 ,397 1965 1966 Nonfinancial Corporate Business, Excluding Farms 1 31 806 38 440 38,,836 42 636 3 4 5 36,451 -4,645 14,248 18,893 43 ?380 -4 •940 12, 476 17, 416 44, 694 -5, 858 15, 694 21 •552 49 -7 14 21 6 7 2,121 369 -341 8 9 25,882 271 26, 827 26 28, 002 54 29, 448 -494 31,,459 -1 • 245 34 • 281 -2,,107 10 7,774 11 ,956 10,•439 14,,827 19 ,252 25,,554 ,642 006 ,860 , 866 , 1,. 145 ~ 11 12 13 25,882 25,882 26 •827 26 ,827 28 • 002 28 ,002 14 15 16 17 -348 9-950 25,882 36 , 180 -156 16 ,371 26 •827 43 ,354 1 ,657 18 ,295 28 • 002 44 ,640 18 19 20 21 -348 -188 -1,133 973 -156 -306 651 -501 22 5,622 23 24 25 26 27 28 - - - - 49 ,494 61 -11 21 33 - - - Gross investment of nonfinancial corporate business sector. from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 -159 + Corporate equity issues 1 ,330 - Min. rights from U.S. govt. 6 7 37 ,556 -1 ,554 41 ,448 - Capital consump.allow., NIPA -3 ,651 - Inventory valuation adj. 8 9 23 ,571 20 ,271 = Net investment flow. Balance Sheet basis 10 -1 - Depreciation valuation adj. 11 41 ,447 Depreciation charges 12 41 ,448 -Cap. consump. allow., NIPA 13 - 29 ,448 29 ,448 1 31 ,460 31 ,459 34 ,281 34 ,281 1 37 ,557 37 ,556 4 ,869 25 ,557 29 ,448 50 ,136 7 ,028 38 ,087 31 ,460 62 ,519 13 ,375 56 ,634 34 ,281 77 ,540 13 ,364 48 ,794 37 • 557 72 ,987 25 •410 + Reval. of physical assets 63 ,303 Change in value 41 ,447 Depreciation charges 79 ,340 -Gross purchases (1) 14 15 16 17 1 ,657 -279 658 1 ,278 4 ,869 182 3 ,642 1 ,045 7 ,028 -116 7 ,061 83 13 ,375 868 12 • 272 235 13 ,364 -520 12 ,451 1 ,453 25 ,410 1 ,114 22 •699 1 ,597 18 19 20 21 1 ,916 1 ,973 3 ,091 3:,251 3,,654 234 26 198 2,852 2,654 -292 2 559 2 ,851 -23 3 ,460 3 ,483 -15 3 ,744 3 ,759 -17 4 ,803 4 ,820 -3..101 1,,724 4, 825 -38 4 ,322 , 4 ,360 53 + Reval. of fgn. dir. invest. 3 ,218 Change in value 3 ,165 -Direct investment 23 24 25 171 482 311 -126 220 346 101 332 231 97 419 322 20 434 414 -169 257 426 171 869 698 84 - Reval. of dir. inv. in U.S. 892 Change in value 808 -Direct investment 26 27 28 772 + Other revaluations 29 29 -102 30 12,973 31 450,012 32 7,774 -7 Revaluation by type of asset Residential structures Nonres. plant £ equipment Inventories (1) + Change in the value of land holdings 22 45 222 27 -45 87 13 ,990 22,,897 29,.520 39,.606 37,,046 46 ,449 = Change in net worth 30 463 ,555 477 545 500, 442 529,,962 569, 568 606, 614 Memo: 653,,063 Net worth outstanding 31 11 ,956 10 ,439 14, 827 19, 252 25, 554 23, 571 13 , 543 Tangibl es and net worth on historical cost basis: 33 34 35 36 280 16,105 20,355 36,180 -1 ,575 20 ,195 21 .584 43 ,354 -196 21 ,478 ,966 44 ,640 -196 25 ,441 24 ,499 50 ,136 -1,-392 34,,763 26,,364 62 ,519 37 2,054 1 ,858 1 ,858 1 ,988 38 39 40 -5,527 20,355 25,882 - 5 ,243 21 ,584 26 ,827 -5 ,036 22 ,966 28 ,002 41 198 -292 42 171 -126 43 -102 44 45 20,,271 = Net investment flow 32 + Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) 33 34 35 36 + Change in the value of land holdings 37 -2, 297 46, 603 28,• 640 77, 540 -1, 309 40, 551 31,-127 72,• 987 2 ,576 2, 349 2,,175 -4 ,949 24 499 29 ,448 -5 ,095 26 ,364 31 ,459 -5, 641 28,.640 34,.281 -23 -15 -17 -3, 101 -38 53 + Reval. of fgn. dir. invest. 41 101 97 20 -169 171 84 - Reval. of dir. inv. in U.S. 42 -7 45 222 27 -45 87 15,560 17, 309 17,•058 21, 678 25,,521 28,,270 30 ,744 29 ,404 = Change in net worth 44 314,015 331, 324 348,,382 370, 060 395, 581 423,,851 454 ,595 Memo: 483 ,999 Net worth outstanding 45 -6, 429 31,• 127 37, 556 -1, 658 43,,994 33,>688 79,,340 2,•290 -7,,760 - Depreciation valuation adj. 38 33,,688 Depreciation charges 39 41,,448 -Cap. consump. allow., NIPA 40 772 + Other revaluations (1 ) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 43 April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 76 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1970 1971 1972 1973 1974 1976 Nonfinancial Corporate Business, Excluding Farms 1 Gross investment of nonfi nanci al corporate business sector, from Flow of Funds Accounts 2 3 4 5 65 ,635 60 ,475 70 ,301 79 ,819 70 ,078 102 ,098 122 ,056 139 ,213 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 84 ,745 -19 ,110 31 ,684 50 ,794 80 ,775 -20 ,300 18 ,728 39 ,028 86 ,363 -16 ,062 36 ,677 52 ,739 96 ,749 -16 ,930 50 ,089 67 ,019 120 ,694 -50 ,616 70 ,709 121 ,325 139 ,352 -37 ,254 52 ,479 89 ,733 111 ,669 10 • 387 41 ,145 30 758 156 ,275 -17 ,062 53 ,462 70 ,524 2 3 4 5 3 ,406 44 5 ,694 329 11 ,435 717 10 ,922 912 7 ,883 3 ,168 4 ,097 6 ,490 9 ,908 1 ,323 10 ,524 3 ,973 6 7 102 ,301 -14 ,911 8 9 6 7 • Corporate equity issues Min. rights from U.S. govt. 8 9 - Capital consump.allow., NIPA Inventory valuation adj. 45 ,399 -5 ,870 49 ,857 -6 ,552 54 ,783 —4 ,584 60 ,111 -6 ,610 65 ,223 -20 •022 76 ,301 -39 ,457 91 ,878 -10,,952 = Net investment flow. Balance Sheet basis 29 ,468 22 ,535 30 • 820 36 ,328 29 ,592 62 ,861 49,,715 58 ,374 10 11 12 13 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 45 ,399 45 ,399 4 9 ,857 • 49 ,857 1 54 ,784 54,,783 -2 60 ,109 60 ,111 65 ,223 65,,223 76 ,301 76 ,301 -2 91 ,876 91 ,878 11 102 .301 12 102,,301 13 14 15 16 17 + Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 27 • 019 72 ,191 45 • 399 90,,571 29,,349 66, 490 49, 857 86, 998 35,• 047 70, 493 54,• 784 90,,230 30. 090 72, 428 60, 109 102,,447 57,,530 129, 855 65, 223 137, 548 170 ,615 266 ,633 76 ,301 172 ,319 95, 096 124, 518 91 ,876 121, 298 75,• 080 139, 992 102, 301 167, 213 14 15 16 17 Revaluation by type of asset Residential structures Nonres. plant S equipment Inventories (1) 27,,019 1- 401 23, 016 2,,602 29,,349 497 30, 339 -1 ,487 35, 047 1, 165 33, 455 427 30, 090 1, 986 26, 283 1 ,821 57, 530 2, 643 46, 136 8, 751 170 ,615 2 ,771 151 >424 16 .420 95- 096 1 ,517 88 -948 4, 631 75, 080 932 68, 649 5, 499 18 19 20 21 Change in the value of land holdings 3, 656 2, 649 2, 979 8, 399 12, 407 22,,891 6, 125 13, 932 22 23 + Reval. of fgn. dir. invest. 24 Change in value 25 -Direct investment 5,157 4,931 6 ,565 6 ,768 6 ,119 6 ,457 5 ,115 5 ,744 10 ,212 10 ,130 8, 649 8, 936 13,,776 14, 048 12 ,443 24 11 ,633 25 26 - Reval. of dir. inv. in U.S. 27 Change in value 28 -Direct investment -260 1,003 1,263 -12 1 ,452 , 1,,464 276 644 368 6 954 948 2 ,888 5 ,688 2 ,800 173 4, 588 4, 761 -85 2, 518 2, 603 -1 ,238 26 3 ,108 27 4 ,346 28 10 18 19 20 21 + 22 29 + Other revaluations 30 = Change in net worth - -148 -50 1,,928 1,,571 11 ,548 30, 103 •607 4,,024 29 60,481 54, 292 70, 159 75 ,755 108 ,271 286, 356 150, 144 153, 458 30 Net worth outstanding 1611,979 31 Tangibles and net worth on historical cost basis: 32 = Net investment flow 33 34 35 36 + Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) 37 + Change in the value of land holdings 29,468 -800 53,044 36,727 90,571 22 ,274 ,834 ,890 ,998 —4,056 43,205 42,969 90,230 -158 55,464 46,825 102,447 -359 86,429 50,760 137,548 6,432 123,071 55,680 172,319 4,079 64,361 61,016 121,298 -2,412 98,002 66,799 167,213 -35,502 38 66,799 39 102,301 40 33 34 35 36 4, 258 1 ,652 1 ,935 2 ,871 4 ,518 -8, 672 36, 727 45, 399 -9 ,967 39 ,890 49,,857 -11 ,814 42 ,969 54 ,783 -13 ,286 46 ,825 60 ,111 -14 ,463 50 ,760 65 ,223 -20,621 55,680 76,301 -30,862 41 • Reval. of fgn. dir. invest. 226 -203 -338 -629 82 -287 -272 810 41 42 - Reval. of dir. inv. in U.S. •260 -12 276 6 2,,888 -173 -85 -1,238 42 38 - Depreciation valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA 43 + Other revaluations 61,016 91,878 148 -50 1,,928 1,,571 11 ,548 30,103 -607 4-024 43 44 = Change in net worth 41, 936 31,,639 41 , ,827 53,,263 56 ,956 123,792 85,040 99,050 44 45 Net worth outstanding 525-935 557,574 599,401 652,664 709,620 833,412 918,452 1017,502 45 (1) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 77 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1978 1979 1980 1981 1982 Nonfinancial Corporate Business, Excluding Farms Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 148, 159 195, 151 242,,206 218 ,448 245,041 242,064 258,465 314,272 2 3 4 5 179, 189 -31 -030 62, 565 93, 595 217, 174 -22, 023 107, 667 129, 690 575 3, 631 129, 758 126,• 127 243 , 183 -24: 735 98:,412 123:, 147 285,899 -40,858 97 * 022 137 - 880 255,731 -13,667 46,995 60,662 269-875 -11,410 122,079 133,489 367-906 -53,634 105,088 158,722 6 7 2, 727 2, 470 •101 1, 973 -7,.836 4, 745 12: 875 4,,997 -11,450 4,847 6-400 7,791 23,500 7,785 8 9 114- 321 -16, 637 129,.844 -25, 298 149, 609 -43,.175 171 ,262 : -43:, 129 198,782 -24,189 221,393 -10,350 228,196 -10,900 123,.191 98:,193 29,,630 56,,884 88,• 531 00 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 1 2 3 4 5 -74,475 + Corporate equity issues 7,902 - Min. rights from U.S. govt. 238,436 - Capital consump.allow., NIPA -5,800 - Inventory valuation adj. 8 9 Net investment flow. Balance Sheet basis 10 50,• 732 11 12 13 1 114- 322 114,• 321 1 129 845 129,,844 -1 149 608 14 9,,609 -1 171 ,261 171 ,262 198,783 198.782 9 221 ,402 : 221:,393 -12 228 ,184 228:,196 6 - Depreciation valuation adj. Depreciation charges 238, 442 -Cap. consump. allow., NIPA 238,.436 14 15 16 17 97,• 052 176, 086 114,• 322 193,• 356 162,. 122 272.,776 129 ,845 240 ,499 147:, 990 275 ,387 149 ,608 277 ,005 209 319 171 281 ,115 ,169 ,261 ,315 215,761 322,219 198.783 305,241 77 ,434 114:,322 121 •,402 258:,290 34:,111 78 917 228 . 184 272:,990 72,• 233 + Reval. of physical assets Change in value 199, 595 Depreciation charges 238, 442 -Gross purchases (1) 365, 804 18 19 20 21 97 ,052 813 88 ,359 7 ,880 162 ,122 2 ,316 143 ,273 16 ,533 147 ,990 3 ,944 119 ,583 24 ,463 209 ,115 4 ,411 186 ,996 17 ,708 215,761 4,712 193,797 17,252 77 ,434 -1:,018 82 ,474 -4:,022 34:,111 1:,995 28:,449 3 ,667 22 22 ,653 33 ,929 32 ,031 50 ,710 23 24 25 -2 ,709 8 ,799 11 ,508 286 16 ,379 16 ,093 -346 26 ,479 26 ,825 6 ,671 30 ,227 23 ,556 3,774 16,359 12,585 -21,673 -11,479 10,194 -7,235 2,587 9,822 -7,226 + Reval. of fgn. dir. invest. 6,007 Change in value 13,233 -Direct investment 23 24 25 26 27 28 97 3 ,825 3 ,728 -20 7 ,876 7 ,896 115 11 ,991 11 ,876 11 ,666 28 ,584 16 ,918 472 25,668 25,196 2-171 15,963 13,792 435 12,382 11 ,947 2,163 - Reval. of dir. inv. in U.S. 27,522 Change in value 25,359 -Direct investment 26 27 28 -2,474 + Other revaluations 29 98,633 = Change in net worth 30 -741 72, 233 1, 903 61,,089 9,,241 39,010 29 -724 554 3 ,578 -9 ,393 4,638 5,008 -21,257 30 166 ,906 285 ,441 306 ,330 343 ,631 329,786 119,234 86,504 31 1778 ,885 2064 ,326 2370 ,656 2714:,287 32 50 ,732 88 ,531 123 ,191 98 ,193 33 34 35 36 986 120 ,339 74 ,003 193 ,356 1 ,632 159 , 120 83 ,011 240 ,499 6 ,599 189 ,273 94 ,331 277 ,005 7 ,219 182 , 129 106 ,405 281 ,315 37 2 ,936 Revaluation by type of asset Residential structures Nonres. plant S equipment Inventories (1) + Change in the value of land holdings Memo: 3348,444 Net worth outstanding Tangibles and net worth on historical cost basis: 56,884 14,194 199,712 119-723 305,241 -10,296 114,148 133,846 258,290 -584 125,127 147,279 272,990 -741 = Net investment flow 9,331 213,331 161,804 365,804 8,504 4 ,222 3 ,615 6 ,570 —46 ,833 83 ,011 129 ,844 -55 ,278 94 ,331 149 ,609 -64 ,857 106 ,405 171 ,262 -79,059 119,723 198,782 -87,547 133-846 221,393 -80,917 147,279 228,196 • Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) 33 34 35 36 + Change in the value of land holdings -76,632 - Depreciation valuation adj. 38 161,804 Depreciation charges 39 238,436 -Cap. consump. allow., NIPA 40 38 39 40 -40 ,318 74 ,003 114:• 321 41 -2, 709 286 -346 6 ,671 3,774 -21,673 -7,235 -7,226 + Reval. of fgn. dir. invest. 41 42 97 -20 115 11 ,666 472 2,171 435 2,163 - Reval. of dir. inv. in U.S. 42 43 724 554 3, 578 -9 ,393 4,638 5,008 -21,257 -2,474 + Other revaluations 43 44 91 ,442 142, 078 191,,800 162,,451 163,198 93,487 115,960 81,863 = Change in net worth 44 45 1108, 944 1251 ,022 1442,,822 1605,,273 918 Memo: 2059,781 Net worth outstanding (1) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. April 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 78 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Nonfinancial Corporate Business, Excluding Farms 1 Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 317 ,896 282 ,323 320 • 273 347 ,509 342 ,071 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 339 854 -21 ,958 83 ,046 105 ,004 328 ,834 -46 ,511 119 ,320 165,831 348 ,263 -27 ,990 105 ,630 133 ,620 380 ,448 -32 ,939 92 ,917 125 ,856 385 • 570 -43 ,499 77 ,419 120 ,918 6 + Corporate equity issues 7 - Min. rights from U.S. govt. -81 ,500 4 ,376 -80 ,750 7 ,194 -76 ,500 2 ,936 -130 ,500 3 ,307 8 - Capital consump.allow., NIPA 9 - Inventory valuation adj. 250 .967 -1 ,675 265 ,883 6 ,750 280 ,219 -18 ,925 295 ,649 -25 , 000 315 ,756 -18 ,624 10 = Net investment flow, Balance Sheet basis -130 ,750 2 ,398 -17 ,272 -78 ,254 -20 ,457 -56 ,947 -88 ,209 11 - Depreciation valuation adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA -13 250 ,954 250 ,967 -77 265 ,806 265 ,883 -117 280 ,102 280 ,219 -146 295 ,503 295 ,649 -231 315 ,525 315 ,756 11 12 13 14 + Reval. of physical assets 15 Change in value 16 Depreciation charges 17 -Gross purchases (1) 32 • 118 , 250 • 337 , 758 957 954 153 78 ,242 127 ,326 265 • 806 314 ,890 114 • 964 199:• 114 280 102 364,>252 126 ,650 233,,288 295,,503 402,,141 121 207 315 401 ,420 ,691 ,525 ,796 , 14 15 16 17 32 ,758 2• : 220 26 240 4 i298 78:,242 -874 79,, 923 -807 114,.964 2, 995 97, 269 14, 700 126,.650 1 -069 103, 784 21. 797 121 ,420 • 6,,093 108,-050 7,.277 18 19 20 21 18 19 20 21 22 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories (1) + Change in the value of land holdings 30, 840 32,,099 26, 810 23, 577 26 ,674 23 + Reval. of fgn. dir. invest. 24 Change in value 25 -Direct investment 6 .046 1 15, 730 9, 684 12, 294 24, 682 12 1388 11, 243 44, 335 33, 092 I. 239 16, 189 14, 950 -1, 132 32, 568 33, 700 23 24 25 26 - Reval. of dir. inv. in U.S. 27 Change in value 28 -Direct investment 1, 010 20, 032 19, 022 1, 708 35, 799 34, 091 4, 482 51, 376 46, 894 -1, 372 57, 063 58, 435 -1, 200 59, 660 60, 860 26 27 28 29 + Other revaluations 1, 451 5, 138 -13, 259 12, 080 2, 315 29 30 = Change in net worth 52, 826 47, 888 114, 936 108, 117 62, 499 30 Memo: 31 Net worth outstanding 3401, 270 3449, 158 3564, 094 3672, 211 3734, 710 14,658 170,516 208,394 364,252 20,424 199,739 222,826 402,141 17,853 180,253 239,396 401,796 33 34 35 36 Tangibles and net worth on historical cost basis: 32 = Net investment flow 33 34 35 36 + Valuation adjustment on physical assets (2) Change in value Depreciation charges -Gross purchases (1) 37 + Change in the value of land holdings -17,272 -78 8,414 167,118 178,449 337,153 11 131 194 314 045 791 144 890 11 ,677 6 ,074 8 ,473 9 ,066 9 ,701 37 -72 ,518 178 ,449 250,,967 -71 ,739 194 ,144 265 ,883 -71 ,825 208 ,394 280 ,219 -72 ,823 222,,826 295,,649 -76 ,360 239 ,396 315,,756 38 39 40 41 + Reval. of fgn. dir. invest. 6 ,046 12,,294 11 ,243 1,,239 -1,,132 41 42 - Reval. of dir. inv. in U.S. 1,,010 1,,708 4 ,482 -1,,372 -1,,200 42 38 - Depreciation valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA 43 + Other revaluations 1,,451 5,,138 -13,,259 12,.080 2,.315 43 44 = Change in net worth 81, 824 26,,328 68,,001 60,,057 18,.088 44 45 Net worth outstanding 2141,605 (1) Before inventory valuation adjustment. (2) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. April 1990 Private Financial Institutions Private Financial Institutions 79 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1945 1946 1947 1948 1949 1950 1951 1952 Private Financial Institutions 1 1,310 1,035 1,311 1,293 2,190 1,256 2,075 Gross investment of private financial institutions, from Flow of Funds Accounts 1 2 3 4 5 300 1-010 -2,368 -3,378 318 717 12,166 11,449 353 958 10,289 9,331 393 900 12,896 11,996 450 1-740 20,580 18,840 499 757 20,478 19,721 431 1,644 26,595 24,951 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 6 108 88 82 31 118 191 175 + Corporate equity issues 7 184 231 260 271 283 325 352 - Capital consump.allow., NIPA Net investment flow, Balance Sheet basis 7 8 8 1,234 9 10 11 3-527 3,527 3,975 3,975 4,263 4,263 4,452 4,452 5,055 5,055 5,411 5,411 12 13 14 282 282 -94 115 209 7 103 96 1,228 1,555 327 35 274 239 -160 137 297 15 16 17 184 184 231 231 260 260 271 271 283 283 325 325 351 352 Depreciation valuation adj. 15 Depreciation charges 16 -Cap. consump. allow., NIPA 17 18 19 20 21 379 495 184 300 415 502 231 318 130 223 260 353 -49 73 271 393 164 331 283 450 245 419 325 499 69 149 351 431 Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 73 33 13 53 66 33 -66 348 414 -73 288 361 1,628 2,506 878 358 1,347 989 120 845 725 23 24 25 300 300 6,662 6,655 Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 9 10 11 -81 - Reval. of mutual fund shares 12 Change in value 13 450 -Shares issued 14 531 + Change in the value of land holdings 18 19 20 21 22 231 + Reval. of corp.equity hldgs. 23 24 1,609 Change in value 1,378 -Net purchases 25 26 -108 130 -64 34 52 -118 -119 + Other revaluations 26 27 1,505 1,538 1,152 1,451 2,617 1,595 2,187 = Change in net worth 27 28 22,226 23,764 24,916 26,367 28,984 30,579 Memo: 32,766 Net worth outstanding 28 Data are in millions of dollars. April 1990 Private Financial Institutions 80 Private Financial Institutions Factors Accounting for Change in Net Worth Annual Flows Annual Flows Private Financial Institutions 1 Gross investment of private financial institutions, from Flow of Funds Accounts 2 ,173 3 ,508 2 ,431 2 ,301 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 669 1 ,504 22 ,892 21 ,388 698 2 ,810 28 ,922 26 ,112 893 1 ,538 28 ,639 27 ,101 871 1 ,430 25 ,359 23 ,929 1 ,917 916 1 ,001 26 ,725 25 ,724 3 ,199 2 ,878 3 ,670 1 899 2 ,300 38 425 36 , 125 1 ,117 1 ,761 32 ,600 30 ,839 1 ,097 2 ,573 38 ,641 36 ,068 2 3 4 5 6 + Corporate equity issues 202 334 52 329 339 202 267 201 6 7 - Capital consump.allow., NIPA 375 409 434 503 553 576 609 652 7 2,,000 3,,433 2,,049 2 ,127 1 ,703 2 ,825 2 ,536 3 ,219 8 7,,258 4 7, 262 53 7-,758 7 ,705 2 ,265 10,,273 8 ,008 5 8 ,348 8 ,343 -662 8,,304 8 ,966 ,733 2: 12 ,121 9 ,388 1 ,246 12 , 122 10 ,876 88 9 10 ,634 10 10 ,546 11 12 - Reval. of mutual fund shares 13 Change in value 14 -Shares issued -193 215 408 1,,441 1,,963 522 949 1,,729 780 159 1 ,208 1.,049 -1,,40L -332 1,,070 2: ,931 4 ,527 1,,596 879 2,,577 1,,698 -175 12 1,,208 13 1,,383 14 15 - Depreciation valuation adj. 16 Depreciation charges 17 -Cap. consump. allow., NIPA -1 374 375 - - 409 409 434 434 503 503 -1 552 553 576 576 609 609 15 652 16 652 17 18 19 20 21 + Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis -30 265 374 669 -32 257 409 698 213 672 434 893 360 728 503 871 89 453 552 916 28 351 576 899 19 527 609 I ,117 22 • Change in the value of land holdings 8 = Net investment flow. Balance Sheet basis - Reval. of life insur. and 9 pension fund reserves 10 Change in liability 11 -Net claims issued 23 + Reval. of corp.equity hldgs. 24 Change in value 25 -Net purchases 26 + Other revaluations 76 124 151 203 210 •263 1, 075 1, 338 3- 290 4, 787 1, 497 4 1932 6 i416 1. 484 333 1 ,802 • 1,,469 696 -416 2, 280 218 8, 431 10, 831 2,• 400 -10 435 652 1,,097 18 19 20 21 217 216 22 2. 952 6,>273 3,,321 175 23 3- 605 24 3, 430 25 -6 •350 127 -92 368 368 72 -47 26 27 = Change in net worth 1, 967 4, 971 4, 004 2,,767 1, 003 5, 470 3, 671 3, 640 27 Memo: 28 Net worth outstanding 34, 733 39, 704 43, 708 46, 475 47, 478 52, 948 56, 619 60, 259 28 Data are in millions of dollars. April 1990 Private Financial Institutions Private Financial Institutions Factors Accounting for Change in Net Worth 81 Annual Flows Annual Flows 1961 1963 1964 Private Financial 1965 1966 Institutions 1 3, 969 4, 461 2,071 4,131 3,360 2,998 3,475 4,926 Gross investment of private financial institutions, from Flow of Funds Accounts 1 2 3 4 5 1, 043 2, 926 48, 841 45- 915 1, 367 3, 094 56- 699 53, 605 1,225 846 57,059 56,213 1,863 2,268 66,606 64,338 2-206 1,154 71,623 70,469 2,115 883 58,392 57,509 2,323 1,152 82,349 81,197 3,370 1,556 96,369 94,813 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 6 434 240 339 172 27 76 80 7 685 726 794 867 980 1,109 1,273 8 9 10 11 12 13 14 3,,718 4 ,201 15 ,275 11 ,074 3 ,724 5 ,849 2 , 125 3,,975 626 + Corporate equity issues 6 1,497 - Capital consump.allow., NIPA 7 = Net investment flow, 4,055 Balance Sheet basis 8 - Reval. of life insur. and 6,590 pension fund reserves 25,210 Change in liability 18,620 -Net claims issued 9 10 11 3,926 16,508 12,582 4,064 19,092 15,028 4.103 19,640 15,537 -5,000 12,967 17,967 8,396 25,755 17,359 - 3 ,265 -1 ,604 1 ,661 2,543 3,943 1,400 1,896 3,902 2,006 2,884 6.104 3,220 -4,025 -391 3,634 6,943 9,478 2,535 2,109 - Reval. of mutual fund shares 12 13 6,925 Change in value 4,816 - S h a r e s issued 14 -3,• 274 8 ,632 11 ,906 -1 -1 -1 -1 15 16 17 685 685 -1 725 726 793 794 866 867 979 980 1,108 1,109 1,273 1,273 - Depreciation valuation adj. 15 1,497 Depreciation charges 16 1,497 - C a p . consump. allow., NIPA 17 18 19 20 21 100 458 685 1 ,043 191 833 725 1 ,367 285 717 793 1,225 231 1 ,228 866 1,863 390 1,617 979 2,206 721 1,728 1,108 2,115 697 1,747 1,273 2,323 945 2,818 1,497 3,370 22 271 221 23 24 25 - 11 ,091 15 , 146 4,055 - 7 ,673 - 3 ,490 4,183 121 8,860 12,733 3,873 8,450 12,817 4,367 9,281 15,211 5,930 -10,245 -4,395 5,850 19,096 27-847 8,751 26 -117 -245 -665 -122 42 20 292 27 7,128 3,009 3,810 6,298 5,366 1,660 6,989 + Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges - G r o s s purchases, FOF basis 18 19 20 21 + Change in the value of land holdings 22 12,121 + Reval. of corp.equity hldgs. 23 Change in value 24 22,789 -Net purchases 25 10,668 - 3 9 5 + Other revaluations 8,148 = Change in net worth Memo: 102,677 Net worth outstanding Data are in millions of dollars. April 1990 Private Financial institutions Private Financial Institutions 82 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1969 1970 1971 1972 1974 1975 7 ,083 i 3 ,086 • -6,,320 6 ,011 1 ,072 199 ,000 197 ,928 7,,216 -4,,130 161,,824 165,,954 1976 Private Financial Institutions 1 Gross investment of private financial institutions, from Flow of Funds Accounts 12 -1 ,824 5 ,297 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 3 ,559 - 3 ,547 72,,557 76 ,104 3 ,532 -5 ,356 101 ,385 106 ,741 4 ,241 1 ,056 , 146 ,175 145 ,119 6 + Corporate equity issues 1.,336 1,,982 ,222 2• 3,,535 2 ,958 1,,229 1,,067 2,,481 7 - Capital consump.allow., NIPA 1,,644 1,,799 2,,031 2,,267 2 ,571 3,,219 3,,908 4,,548 -296 -1,,641 5 ,488 2 ,903 7 ,470 1 ,096 -9 ,161 7 ,845 -6 ,084 14 ,168 20 ,252 2 ,201 23,,903 21,,702 15 ,451 40 ,514 25 ,063 11 ,841 57 ,147 45,,306 -25 ,868 11 ,708 37 ,576 -29 ,243 11 ,612 40 ,855 12 - Reval. of mutual fund shares Change in value 13 -Shares issued 14 -9 ,380 -3.,645 5 ,735 -3.,327 -776 2,,551 7 ,720 8 ,635 915 3,,541 3.,480 -61 -12 ,35^ -12 , 291 61 -12 ,206 -11 ,484 722 7 ,975 7,,883 -92 5 • 453 12 3 ,476 13 -1 ,977 14 15 - Depreciation valuation adj. Depreciation charges 16 -Cap. consump. allow., NIPA 17 1,,644 1 ,644 -1 1,,798 1,,799 -1 2,,030 2:,031 2,,267 2,,267 -1 2 ,570 2 ,571 3 ,219 3 ,219 -1 3,.907 3,-908 -1 15 4,,547 16 4 ,548 17 Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases» FOF basis 672 2 ,587 1,,644 3,,559 1,, 023 2,,757 1 ,798 , 3,,532 1 ,230 , 3 .441 2 • 030 4 ,241 621 3,,139 2,,267 4,,785 1 ,660 5 ,101 2.,570 6,,011 5 ,175 9 ,172 3,,219 7,,216 912 5,.190 3,,907 8,,185 2,,412 6 ,268 4 ,547 8 ,403 8 = Net investment flow. Balance Sheet basis Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 9 10 11 + 18 19 20 21 + Change in the value of land holdings 23 + Reval. of corp.equity hldgs. Change in value 24 -Net purchases 25 26 + Other revaluations - 1,,635 4,,785 -3 , 150 210:,528 213,,678 220 133 183 188 251 -16,,440 —4,,416 12,,024 -1,,789 9, 031 10,,820 26 ,078 45 ,458 19 ,380 20,,688 42,,122 21,,434 -44,,720 -32,,743 11,,977 1,,435 5, 742 10,,286 2 ,600 5,• 606 508 -52,,365 —46,, 723 5, 642 3,>937 8,, 185 -14,,505 182,,017 196,,522 34 ,895 103 ,020 68 , 125 9,,912 8 ,403 1 ,509 237 ,074 235 • 565 8 15 ,572 9 67 ,475 10 51 •903 11 18 19 20 21 -325 146 22 46 763 57, 935 11.,172 25,,324 23 34,• 064 24 8,,740 25 8, 005 6,,242 26 27 = Change in net worth Memo: 28 Net worth outstanding Data are in millions of dollars. 172,598 28 April 1990 Private Financial Institutions Private Financial Institutions Factors Accounting for Change in Net Worth 83 Annual Flows 1977 Annual Flows 1978 1979 1980 1981 1982 1983 1984 Private Financial Institutions 1 10, 745 27,,906 30,,797 30 ,874 -287 9,,266 11,,792 7 ,981 Gross investment of private financial institutions» from Flow of Funds Accounts 2 3 4 5 9, 238 1 •507 305, 049 303, 542 11,,283 16, 623 381 818 365,,195 13 ,354 17 ,443 388 ,618 371,,175 14 ,638 16 ,236 376 072 359,,836 16 ,651 -16 ,938 458 ,554 475 ,492 17,,988 -8 ,722 444,,711 453 ,433 20,,185 -8,,393 504,,981 513,,374 32 ,436 -24 ,455 710 ,063 734,,518 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 2,• 632 2,,517 2,,665 2 ,157 2 ,689 4,,674 3,,649 8 ,196 + 7 5, 324 6,,391 7,,623 8 ,871 10 ,485 12,,025 12,-900 14,,475 - Corporate equity issues Capital consump.allow., NIPA - Net investment flow. Balance Sheet basis - Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 8 8, 053 24,,032 25,,839 24 ,160 - 8 ,083 1,,915 2, 541 1,,702 9 10 11 -16, 185 55,,726 71,,911 17,,354 105,,156 87 ,802 14 ,423 108 ,077 93 ,654 40 ,225 149 ,935 109 ,710 -27 ,833 80 .038 107 ,871 41 ,403 177,,523 136 ,120 61, 682 206,,616 144, 934 -12,,555 126 ,916 139 ,471 12 13 14 -1,,987 -1,,020 967 631 559 -72 5 ,357 5 ,739 382 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 Reval. of mutual fund shares Change in value -Shares issued 15 16 17 -1 5 ,323 5 .324 6 ,391 6 ,391 7 ,623 7 ,623 8 ,871 8 ,871 10 ,485 10 ,485 -7 12 ,018 12 ,025 32 12,,932 12,,900 -16 14 ,459 14,,475 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 18 19 20 21 3 ,777 7 ,692 5 ,323 9 ,238 7 ,649 12 ,541 6 •391 11 ,283 4 ,002 9 ,733 7 ,623 13 ,354 7 ,209 12 ,976 8 ,871 14 ,638 7 ,225 13 ,391 10 ,485 16 ,651 2 ,802 8 ,772 12 ,018 17,,988 -186 7,,067 12,,932 20, 185 -889 17,,088 14 ,459 32,,436 22 263 733 53 763 845 357 488 1,,196 23 24 25 -19 ,022 -7 ,864 11 ,158 22 ,073 34 .805 12,,732 23,,834 42, 494 18,,660 26 4 ,051 -1,,554 2,,167 2, 732 10,-780 5, 623 8, 655 27 15 ,295 34,,948 36,,115 41,,802 8, 898 15,.816 24, 502 60, 939 = Change in net worth 28 187 .893 222,,841 258, 956 300, 758 309,,656 325, 472 349, 974 Memo: 410, 913 Net worth outstanding - - Data are in millions of dollars. - 54 , 318 77 -312 22,,994 - -35,,386 -7,,334 28,,052 54,,756 82,, 183 27,,427 82, 764 131, 100 48, 336 + Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis + Change in the value of land holdings -11, 754 4 Reval. of corp.equity hldgs. 1, 516 Change in value 13,,270 -Net purchases 53, 331 • Other revaluations April 1990 Private Financial Institutions . g 4 Private Financial Institutions Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1985 1986 1987 1988 1989 Private Financial Institutions 1 Gross investment of private financial institutions? from Flow of Funds Accounts 12 ,205 28 ,623 18 ,239 6 ,274 22 ,060 1 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 39 ,360 -27 ,155 772 ,448 799 ,603 44 176 -15 ,553 936 ,636 952 ,189 48 ,052 -29 ,813 630 ,996 660 ,809 54 ,825 -48 ,551 624 ,491 673 ,042 58 ,722 -36 ,662 680 ,287 716 ,949 2 3 5 6 + Corporate equity issues 13 ,519 11 ,118 21 ,366 12 ,369 14 ,060 6 7 - Capital consump.allow., NIPA 16 ,025 18 ,475 21 ,325 24 ,550 27 ,700 7 = Net investment flow. 8 Balance Sheet basis 9 ,699 21 ,266 18 ,280 - 5 ,907 8 ,420 8 - Reval. of life insur. and 9 pension fund reserves 10 Change in liability 11 -Net claims issued 94 ,783 261 ,245 166 ,462 70 ,681 252 466 181 ,785 21 ,134 197 ,145 176 ,011 125 ,697 315 ,982 190 ,285 218 ,248 360 .260 142 ,012 10 11 12 - Reval. of mutual fund shares 13 Change in value 14 -Shares issued 19 ,172 103,,551 84!,379 14 ,243 173 ,243 159 ,000 -24,,901 46,,671 71,,572 18 ,807 18 ,118 -689 31 ,5*,7 69 ,727 38 ,180 14 15 - Depreciation valuation adj. 16 Depreciation charges 17 -Cap. consump. allow., NIPA -14 16 011 16,,025 2 18,>477 18,,475 29 21, 354 21.,325 43 24,,593 24,,550 840 28,,540 27,,700 15 16 17 18 19 20 21 + Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis -8 ,077 15, 272 16, 011 39, 360 743 26,,442 18,,477 44,. 176 -3- 921 22, 777 21 ,354 48, 052 3,.378 33, 610 24, 593 54, 825 2,,056 32, 238 28, 540 58, 722 18 19 20 21 22 • Change in the value of land holdings 22 12 111 1' 334 1, 706 1,,511 2,.306 137, 293 171, 468 34, 175 116, 576 155, 955 39, 379 16, 396 41, 459 25, 063 166, 013 163, 291 -2, 722 292, 914 290, 290 -2,,624 25 26 + Other revaluations 14, 439 -4, 572 -16, 759 13, 003 -15, 104 26 27 = Change in net worth 40, 524 50, 421 19, 440 33, 451 39, 957 27 Memo: 28 Net worth outstanding 451, 437 501, 858 521, 298 554, 749 594, 706 28 23 + Reval. of corp.equity hldgs. 24 Change in value 25 -Net purchases Data are in millions of dollars. !'
@FedFRASER