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C.9 Flow of Funds June 8, 1995 Balance Sheets for the U.S. Economy 1945-94 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 BALANCE SHEETS FOR THE U.S. ECONOMY 1945 through 1994 This release provides estimates for tangible and financial assets, liabilities, and net worth for the private sectors of the economy (household sector, business, and private financial institutions). The tables show year-end data for 1945 through 1994. Relative to the previous release, this issue incorporates revisions in financial assets and liabilities for 1993; there have also been revisions in investment and depreciation series for 1993. Further information about revisions to the financial series can be found in the introduction to the first-quarter flow of funds publication (Z.1 release) dated June 8,1995. The source for the estimates of tangible assets outstanding and of the investment and depreciation flows is the Bureau of Economic Analysis (BEA) of the Department of Commerce. BEA calculations for equipment and residential and nonresidential structures are based on a perpetual-inventory procedure that consists of accumulating aggregate purchases over a long period of years and deducting estimates of depreciation and retirements according to various schedules.1 The assets are shown at current cost net of straight-line depreciation. The figures for net worth, calculated as total tangible and financial assets less total liabilities, reflect these current-cost values. For nonfinancial corporations the balance sheet statement also includes data for tangible assets valued at historical cost, which is the amount actually paid for the items when they were bought, and the net worth amounts that result. The historical-cost estimates for reproducible assets are estimated using the same BEA calculation as the one that produces the current-cost estimate, and they are consistent with each other in definition. In addition to the balance sheets (tables B.11 through B.134), this release includes a set of reconciliation tables (R.11 through R.134) that relate changes in sector net worth to gross investment flows net of depreciation. Changes in net worth also result from net issuance of equity, revaluations in tangible and financial assets due to price changes, statistical discontinuities, and changes in land values. The investment flows shown at the beginning of each of the reconciliation tables are identical to those appearing in the corresponding tables in the Z.1 release (the private financial institutions sector tables give totals for items shown in separate tables in the Z.1). Following the net investment flows on the tables are the series for revaluations of various asset and liability series, which include the statistical discontinuities, and the series for changes in land values. The revaluations and discontinuities in the individual series are included in the outstanding values for the series. The outstanding value for a series in any time period can be represented by the following: Outstanding t = Outstanding t_i + Flow t + Discrepancy t where t is the time period. The "discrepancy" in the equation is the sum of the revaluations and discontinuities; revaluations result from price adjustments, while discontinuities are due to breaks in source data, changes in definition, or changes in panels of reporting institutions. For most series, the discrepancy is zero for nearly all time periods. In a few instances, however, the discrepancy is nonzero for nearly all time periods, or can be quite large in a particular time period, 1. U.S. Department of Commerce, Bureau of Economic Analysis, Fixed Reproducible Tangible Wealth in the United States. 1925-1989 (Washington: U.S. Government Printing Office, January 1993). See also Shelby W. Herman and Michael D. Glenn, "Fixed Reproducible Tangible Wealth in the United States: Revised Estimates for 1991-93 and Summary Estimates for 1925-93," Survey of Current Business, vol. 74 (August 1994), pp. 54-62. as occurs when there is a sharp increase or decrease in equity prices or a major break in source data. The discrepancy can distort estimated rates of growth in assets and liabilities between time periods. In order to minimize these distortions, percentage changes in assets and liabilities are calculated in flow of funds releases in the following manner: Percentage change t = (Flow t /Outstanding t -i) * 100 Availability of Data. Flow of funds statistics are usually compiled and available about two months following the last quarter reported. The Z.7 release, "Flow of Funds Summary Statistics," is made available as soon as a new quarter's data have been compiled. The Z.7 provides an overview of the major credit markets, together with developments in a few key sectors. The Z.7 is available from the Board's Publications Services and electronically through the Economic Bulletin Board of the Department of Commerce. The Z.1 release covers the full range of the accounts. Both the Z.1 and this publication, the C.9 release, are subject to printing and mailing delays of up to two weeks from the time the estimates are completed. To facilitate access to the Z.1, preliminary copies are distributed to Federal Reserve Bank information offices for use by the public. Data from the flow of funds accounts are also available on 3-1/2 inch diskettes. The diskettes contain quarterly data beginning in 1952, organized in files that correspond to the tables published in the Z.1 release. One diskette contains the seasonally adjusted flows, a second diskette contains unadjusted flows, and the third diskette contains the outstandings, which are not seasonally adjusted. In addition, the outstandings diskette contains files with the monthly debt aggregate data published in the Board's H.6 release (monthly data from January 1955 forward), annual data from this release, and data from supplementary tables. Subscription Information. The Federal Reserve Board charges for subscriptions to all statistical releases. This release, the C.9, is $5.00 per year. The annual price of the Z.7 Summary Statistics release is $5.00; the annual price of the Z.1 release is $25.00. Diskettes are available at $25.00 per diskette. Inquiries for releases or the diskettes should be directed to: Publications Services, Stop 127 Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue, NW Washington, DC 20551 (202) 452-3244 A Guide to the Flow of Funds Accounts is available. The Guide explains the principles underlying the accounts and describes how they are constructed. The Guide may be ordered from Publications Services for $8.50. 1 TABLE OF CONTENTS Title Table Page Domestic wealth B.11 2-7 U.S. netforeignassets B.109 8-13 Tangible asset holdings B.12 14-19 Households and nonprofit organizations B.100 20-25 Farm business B.102 26-31 Nonfarm noncorporate business B.103 26-31 Nonfarm nonfinancial corporate business B.104 32-37 Private financial institutions B.134 38-43 Domestic wealth R.11 44-49 U.S. net foreign assets R.109 50-55 Tangible asset holdings R.12 56-61 Households and nonprofit organizations R.100 62-67 Farm business R.102 68-73 Nonfarm noncorporate business R.103 68-73 Nonfarm nonfinancial corporate business R.104 74-79 Private financial institutions R.134 80-85 BALANCE SHEET TABLES STOCK-FLOW RECONCILIATION TABLES June 3, 1995 D o m e s t i c Wealth Domestic Wealth 2 B.11 Domestic Wealth with Tangible 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 1945 1 D o m e s t i c wealth (1) 2 3 4 5 6 7 8 Total tangible assets (2) R e o - o o u c ible assets (3) Residential structures No-.res. Plant 3 e q u i p . Inventories Consumer durables Land at market value (4) 9 • U.S. monetary 10 gold & S D K s D o m e s t i c net w o r t h , by = e c t c (5) (6) P r i v a t e sector net w o r t h , c o n s o l i d a t e d (7) 11 1946 1947 1948 1949 1950 1951 1952 1953 519 3 616 6 734, 3 802. 2 835,. 4 950 . 0 1050. 9 1105..5 1153.7 1 499 349 136 115 51 46 150 595 426 160 141 71 53 169 9 3 3 8 0 2 6 711,.4 5 2 2 .3 190. 5 172..5 94..7 65 .1 188..6 777. 579. 210. 193. 98. 76. 198. 810..6 604. 2 223. 3 2C5. 2 89. 2 86. 6 206. 6 927, 2 696. 2 249 3 228,.4 110. 3 108, 2 231..0 1028. 0 774. 1 273. 1 253.5 123. 1 124. 4 253. 9 1082,.3 811 .7 288 .2 268 .3 120,.7 134,.9 270 .5 1131.6 348.3 300 .7 282.7 122.0 143.0 283.2 2 3 4 5 6 7 8 20 1 20 7 22..9 24. 4 24. 6 22 .8 22. 9 23 3 22.1 9 519 3 616 6 734. 3 802. 2 835.,4 950..0 1050. 9 1105..5 1153.7 10 2 0 0 4 4 2 3 743. 9 838. 4 950. 4 1011. 1 1047. 2 1156..4 1256. 7 1324,.9 1332.9 11 12 13 14 15 16 H o u s e h o l d net assets Sector net wortn - E q u i t y in n o n c o r p . bus. - C o r p . equities held (8)(9) - P e n s i o n fund r e s e r v e s 408. 0 701 .3 174., 4 109. 5 9. 4 444.,9 757. 3 201 .0 101. 3 10. 2 485..8 833. 2 236.,9 98. 3 11. 7 517. 3 874. 5 246. 0 97. 5 13. 3 545. 8 910. 8 244. 9 105. 0 15..1 593 8 1016.5 276. 5 128.,7 17. 5 645. 1 1112. 8 296. 3 151. 1 20. 4 691..6 1167..8 298..7 152..5 25.. 0 723.6 1205.2 300.9 146.2 29.5 12 13 14 15 16 17 18 19 20 N o n f i n a r . b u s i n e s s net w o r t h Nonfarm noncorp. business Far .it business Nonfarm ncnfinan. corps. 310. 2 96. 4 79., 1 134. 7 365. 6 109..5 93. 3 162. 9 434. 2 125. 3 111. 5 194. 5 460. 6 134.,1 114. 5 212..0 467., 7 136.,9 110. 4 220..4 525.,1 147. 2 132..2 245. 8 570. 7 155. 6 143. 9 271. 3 602.3 162.2 142. 1 298.6 17 18 19 20 21 22 23 24 Pvt. f in an. Inst. net assets Sec tor net worth • °ens ion 'una r e s e r v e s - C o r p . equities neld (8)(9) 25 7 21.,9 9. 4 5. 5 27..9 23,.4 10. 2 5..7 30. 3 25..0 11,.7 6. 3 37.5 31..0 17. 5 11.,0 40. 9 32. 5 20. 4 12. 0 45 .9 34,.8 25 . 0 13,.9 51.5 37.2 29.5 15.2 21 22 23 24 -193. 4 -5. 0 -139. 7 0. 5 0. 7 -212..4 -10,.5 -203,. 2 0,.5 0,.8 224.3 -14.0 -212.1 0.5 0.8 25 26 27 28 29 25 Public sector net assets State and Local g o v e r n m e n t s 26 U.S. g o v e r n m e n t 27 Govt.-spons. enterprises 23 Monetary authority 29 -223. 3 .6 - 2 2 3 ,3 0.,6 0. 5 221 3 6 .6 -221 . 0.. 4 0..5 32. 7 26., 1 13. 3 6. 7 33..7 28 .0 15. 1 9. 4 -207..0 5 -207..4 0..4 0..5 -198. 4 7 -198. 8 0. 4 0. 6 -202. 2 9 -232., 4 0..4 0. 7 -197. 9 -3..9 -195., 1 3. 5 0. 7 587 .4 159 .5 142 .5 285..4 Less: Net U.S. financial claims on foreigners (13) 30 Fg.n. assets of U.S. r e s i d e n t s 31 -Total U.S. assets neld by f o r e i g n e r s , excluding equities 32 33 Unallocated finan.assets 1 ,3 14,.9 6..8 17.,3 12..7 23 .9 14. 9 26 8 16.,0 28.. 1 17,.0 31..4 16. 3 31. 9 18, 3 34,.3 19.5 36.7 30 31 13..6 12..4 11. 2 12.,0 12. 2 14..5 15. 2 16,.1 17.2 32 4. 3 3 6 6. 3 8. 5 4. 4 11 ,3 15.1 33 (11) (1) 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 assets of f e d e r a l , state, and local g o v e r n m e n t s ; e x c l u d e s land holdings of F e d e r a l R e s e r v e B a n k s and g o v e r n m e n t soonsored e n t e r p r i s e s ; e x c l u d e s investments in intangible assets such as p a t e n t s . (3) At current cost. (4) E x c e o t for f a m s e c t o r , estimate based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (5) N a t i o n a l net worth equals domestic net worth plus 'J.S. net claims on foreigners (lines 10 • 30) . (6) E q u a l s net c o n s o l i d a t e d tangible and financial assets of public and p r i v a t e sectors, less net U.S. financial c l a i m s on f o r e i g n e r s , plus unallocated financial assets (lines 11 * 25 - 30 • 33). (7) Lines 12 • 17 • 21. (8) Includes h o l d i n g s of foreign equities. (9) E x c l u d e s mutual fund shares. (10) E x c l u d e s U.S. h o l d i n g s of foreign equities and foreign h o l d i n g s of U.S. equities. (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the sum of d i f f e r e n c e s between l i a b i l i t i e s for and h o l d i n g s of individual f i n a n c i a l instruments; arises from timing and reporting d i f f e r e n c e s . Data are in billions of d o l l a r s . 4., 4 June 8, 1995 Domestic wealth Domestic B.11 Veer-End Domestic Wealth with Tangible Assets at C u r r e n t Outstandings Year-End 1954 1955 1 1 9 5 .6 1 2 8 6 .8 1 3 9 1 .2 1461 .6 1 5 1 2 .0 1 5 7 5 .0 1625.8 1682 . 7 1 7 5 0 .9 1 1 7 3 .8 878 . 6 3 1 7 .9 295 . 0 118 . 6 167 . 1 2 9 5 .2 1263 966 342 322 126 157 316 1369 1325 361 358 133 171 343 1 4 3 8 .7 1 0 7 2 .1 3 7 5 .6 383 . 0 137 .3 176 .2 3 6 6 .6 1491.4 1 1 0 3 .6 389 . 0 3 9 5 .2 1 3 7 .5 1 8 2 .0 3 8 7 .8 1 5 5 5 .5 1 1 5 0 .7 4 0 8 .8 6 1 1 .7 161 .2 189 . 0 4 0 4 .8 16 3 8 . 0 1188.4 426.0 423.5 145.2 193.7 419.6 1665 1222 442 435 147 196 443 1 7 3 4 .9 1 2 6 9 .6 4 6 0 .4 453 . 4 153.4 202 . 3 4 6 5 .3 .0 .7 .5 .0 .9 .3 .3 21 .8 21 .8 1 1 9 5 .6 1 2 8 6 .8 1957 .1 . 7 .8 .1 . 9 .9 .4 22 . 1 1391 .2 1958 1959 Wealth Cost Outstandings 1962 .8 . 1 . 4 .7 . 1 .8 .7 2 2 .9 20 .6 19 .5 17.8 16 .9 1461 .6 1512.0 1 5 7 5 .0 1625.8 1 6 8 2 .7 Domestic 16 . 1 wealth (1) i T o t a l t a n g i b l e a s s e t s (2) R e p r o d u c i b l e a s s e t s (3) Residential structures Nonres. plant & equip. Inventories Consumer durables L a n d at m a r k e t v a l u e '4) 2 3 4 5 6 7 3 * U.S. 9 monetary gold 1 7 5 0 .9 D o m e s t i c net w o r t h , by s e c t o r ( 5 ) ( 6 ) P r i v a t e sector net c o n s o l i d a t e d (7) 8 SDRs 10 worth, 1433 . 1 1519.6 1 6 3 0 .1 1707,.5 1 7 7 7 .8 1846 . 0 1903.2 1973,.4 2 0 5 2 .4 12 13 14 15 16 761 .4 1311 2 302,.3 213., 0 34. 4 807, 4 U20. 2 313. 3 260, 7 61 .8 8 6 1 ,.4 1512.5 324. 3 279. 6 47. 2 901 .. 0 1533., 0 333. 3 245. 6 53. 1 9 6 6 .9 1697..1 366.,7 365.. 3 62. 5 988 . 6 1775,. 9 346. 2 369..8 ,6 71 . 1029.2 1820.4 347.3 364.4 79.5 1074,,4 1984,,9 353. 3 465. 3 91 .8 1118.. 0 1978.. 1 360., 6 4 0 2 .,4 97. 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 (8)(9) - P e n s i o n fund r e s e r v e s 12 13 14 15 16 17 18 19 20 616. 8 162. 8 143. 1 308. 9 650. 5 168. 7 165. 5 336. 3 700. 7 176. 2 152. 6 371. 8 731 . 3 180. 0 158. 4 393. 0 3 0 3 0 773.,1 183..1 169. 1 420. 9 780.7 182.6 171.3 426.8 801. 2 184. 0 176. 5 440. 7 824. 8 186 . 191. 456. 7 N o n f i n a n . b u s i n e s s net w o r t h Nonfa-n noncorp. business Farm business N o n f a r m n o n f inan . c o r p s . 17 18 19 20 21 23 24 56. 9 42. 34. 4 20. 2 61 .6 66. 8 61 .8 26. 9 68. 0 49. 9 47. 2 29. 1 75. 2 51. 1 53. 1 29. 1 78. 6 56. 5 62.5 60. 3 84. 3 60. 3 71. 6 47. 0 93.3 65.0 79.5 51.2 97. 8 72. 0 91 .8 66. 1 109. 74.5 97 . 62. 3 P v t . f i n a n . i n s t . net a s s e t s 21 S e c t o r net w o r t h 22 • P e n s i o n fund r e s e r v e s 23 - C o r p . e q u i t i e s held ( 9 ) ( 9 ) 2 4 25 26 27 233. 9 -17. 9 217. 5 236. 7 -21. 1 -215. 1 0. 6 0 .9 - 2 3 1 .9 24. 1 -209. 4 0. 6 1. 0 -233. 7 -28. 7 -206. 7 0. 7 1. 1 -248. 9 -36. 2 -216. 5 0. 7 1 .1 -256. 3 -38. 6 -219. 4 0. 8 0. 9 -257.2 -41.9 -217.0 0.8 0.9 -266. 9 -65. 7 -223. 1 0. 3 1 .0 -274. 6 -48. 8 - 2 2 7 .8 0 .9 1. 1 22 28 29 754. 183. 167. 404. n P u b l i c sector net assets S t a t e and l o c a l g o v e r n m e n t s U.S. government Govt.-spons. enterprises Monetary authority 25 26 27 28 29 Less: 33 31 19. 7 21 . 3 40 .6 24. 7 46. 4 28. 7 51 .4 31 . 2 55. 3 31 .4 58. 9 34. 3 63.5 37. 9 69. 6 32 18.7 19.3 21 .6 22.6 24.1 27.6 29.6 31 .7 33 16.1 21.2 17.7 16.5 14.3 16.6 13.7 14.3 74. 1 N e t U . S . f i n a n c i a l c l a i m s on f o r e i g n e r s '10) F g n . a s s e t s of U . S . r e s i d e n t s - T o t a l U . S . a s s e t s h e l d oy foreigners, excluding equities Unallocated finan.assets (11) (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 o 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 f e d e r a l , s t a t e , and l o c a l g o v e r n m e n t s ; e x c l u d e s lard h o l d i n g s of F e d e r a l R e s e r v e 3 a n < s and g o v e r n m e n t - S D o n s o r e d e n t e r p r i s e s ; excludes i n v e s t m e n t s in i n t a n g i b l e a s s e t s s u c h as p a t e n t s . (3) At c u r r e n t c o s t . (4) E x c e p t for f a r m s e c t o r , e s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e and c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (5) N a t i o n a l net w o r t h e q u a l s d o m e s t i c n e t w o r t h P l u s U . S . n e t c l a i m s on f o r e i g n e r s ( l i n e s 10 + 30). (6) E q u a l s n e t c o n s o l i d a t e d t a n g i b l e and f i n a n c i a l a s s e t s of p u b l i c and p r i v a t e s e c t o r s , l e s s net U . S . f i n a n c i a l c l a i m s on f o r e i g n e r s , p l u s u n a l l o c a t e d f i n a n c i a l a s s e t s ( l i n e s 11 + 2 5 - 30 • 3 3 ) . (7) L i n e s 1 2 + 1 7 + 2 1 . (8) I n c l u d e s n o l d i n g s of f o r e i g n e q u i t i e s . (9) E x c l u d e s m u t u a l fund s h a r e s . ( 1 0 ) E x c l u d e s U . S . h o l d i n g s of f o r e i g n e q u i t i e s and f o r e i g n h o l d i n g s of U . S . e q u i t i e s . (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the s u m of d i f f e r e n c e s b e t w e e n l i a b i l i t i e s for and h o l d i n g s of i n d i v i d u a l f i n a n c i a l i n s t r u m e n t s ; a r i s e s from t i m i n g and r e p o r t i n g d i f f e r e n c e s . Data are in b i l l i o n s of dollars. 30 31 32 33 June 8, 1995 Domestic Wealth Domestic Wealth B.11 Domestic Wealth with Tangible 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 Year-End Outstandings 1 Domestic wealth (1) 2 3 4 5 6 7 8 Total tangible assets (2) R e p r o d u c i b l e a s s e t s (3) Residential structures N o n r e s . plant 8 e q u i p . Inventories Consumer durables Land at m a r k e t value (4) 9 • U.S. m o n e t a r y 1971 1827 .0 1922. 2 2042.. 7 2213..6 2365 .6 2616 .1 2863..1 3069..9 3348.6 1 1811..4 1318..5 474.. 1 472,.9 158,,7 212 8 6 9 2 .9 1906. 7 1394. 0 505. 6 500. 4 166. 2 223. 7 512. 8 2028..6 1489,,2 532,.5 542.3 178.. 6 236.. 1 539..4 2200..3 1629.. 1 576.,9 598.,7 195.,1 258..5 571. 2 2353 .6 1747, 3 608..7 649,,4 206..0 283. 2 606. 2 2603,.2 1938 . 7 683 .9 719. 3 221,.3 316..2 664 5 2851..2 2134,.5 752,.0 796, 3 242 5 363.,7 716. 7 3058..3 2295 .5 795,.0 878 .8 249, 3 372 ,4 762 5 3337.2 2515.7 886.8 967.7 267.4 393.7 821 .6 2 3 4 5 6 7 8 13.2 12..1 10,. 9 11. 9 11.4 9 3069.,9 3368.6 10 15. 5 1827..0 1922. 2 2062.. 7 2213. 6 2365. 6 2614,. 1 2863..1 P r i v a t e sector net w o r t h , 11 c o n s o l i d a t e d (7) 2133..3 2241 .7 2375. 5 2559. 7 2738..9 3001 .6 3255, 2 3487..6 3789.1 11 12 13 14 15 IS H o u s e h o l d net a s s e t s Sector net worth - E q u i t y in n o n c o r p . bus. - C o r o . equities held (8)(9) - t e n s i o n fund r e s e r v e s 1170,. 4 2121..3 367,.8 472.7 110,. 4 1232. 9 2283. 9 381. 1 544. 1 125. 9 1300.. 7 2461 .3 402..9 616., 1 141 . 6 1399. 3 2526., 0 427. 6 548. 3 153..8 1512. 7 2814. 3 446. 9 682. 1 172. 6 1669. 2 3165. 2 486..5 815. 194,. 1 1885..5 3197, 3 519. 6 587. 4 254. 8 2006, 2 3348 .6 544,.8 572. 5 225., 1 2183.6 3693.6 596.5 650.9 261 .7 12 13 14 15 16 17 18 19 20 N o n f I n a n . b u s i n e s s net worth N o n f a r m noncorp. b u s i n e s s Farm b u s i n e s s Nonf arm ncnfinar.. corps . 849 .2 189, 3 186..9 472. 9 886. 0 197. 0 193. 1 495. 9 945. 206. 206. 532. 4 6 3 5 1014., 1 223.0 215., 1 576. 0 1 077.5 233. 2 224. 9 619. 3 1175.,2 259.. 0 239. 9 676. 3 U 7 7 ,. 4 280.. 4 252. 5 744.5 1368 .9 298 5 260. 3 810.. 1 lSCb.6 327.3 232. 0 896.6 17 18 19 20 21 22 23 24 Pvt. f i.nan. inst. net assets Sector net worth •Pension fund r e s e r v e s - C o r p . e q u i t i e s held (d)(9) 113..8 79..5 110..4 76..1 122. 8 86. 2 125. 9 89. 3 129. 6 92. 0 161. 6 106. 2 146 .3 95.. 0 150.,3 99. 5 168. 7 133. 6 172. 6 127. 5 157. 2 116. 3 194.. I 151. 2 92. 2 123, 2 234. 8 235.8 112. 5 129.. 1 225. 1 241 .7 99. 1 162.3 261 .7 305.9 21 22 23 24 -324. 7 -73. 2 -249. 2 1 .9 . 0. 8 -344,.9 -87. 3 -260., 7 2. 3 0., 9 -376.9 -96.2 -282.3 2.6 1 . 0 25 26 27 28 29 67, 2 136. 5 68. 7 140. 5 54.9 151.5 30 31 D o m e s t i c net w o r t h , oy sector (5)(6) 25 Public sector net assets 26 State and local g o v e r n m e n t s 27 U.S. g o v e r n m e n t 23 Govt.-spons. enterprises 29 Monetary a u t h o r i t y -279,.3 -51 . .5 -229.. 9 0,.9 1.. 1 -286. 7 -54. 5 -233. S 1 .0 0. 7 14.,1 11 , .9 15. 6 10 gold 3 S D R s 1970 -290.,9 -57.. 0 -235.,7 1,. 1 0. 7 -298.. 0 -60. 9 -239.. 0 1 .2 0. 7 -310. 8 -66.. 0 -247 . , 3 1 .4 0.8 323 6 -70. 5 -255..5 1 .7 0,.8 Less : Met U.S. financial c l a i m s on 30 fore isner s (10) 31 F g n . a s s e t s of U.S. r e s i d e n t s -Total U.S. a s s e t s held by foreig-ers, excluding 32 equities 33 Unallocated f ina.n. a s s e t s (11) are in b i l l i o n s of d o l l a r s . 63. 6 115. 9 62., 7 46.. 1 52. 3 58. 3 67. 3 71 .8 96.6 32 16, 2 11. 8 1 .2 3..8 3 -4. 2 -10.6 33 50. 2 91. 5 56. 98. 37 .2 41 .3 16.. 2 17. 4 (1) Located within 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 assets of federal, state, and local g o v e r n m e n t s ; e x c l u d e s land foldings of F e d e r a l R e s e r v e Banks and governmentsoonsored e n t e r p r i s e s ; e x c l u d e s investments in intangible a s s e t s such as p a t e n t s . (3) At current cost. (4) Except for farm s e c t o r , estimate based on d i f f e r e n c e b e t w e e n m a r k e t value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (5) N a t i o n a l net w o r t h equals domestic net worth plus U.S. net c l a i m s on foreigners (lines 10 • 30). (6) E a u a l s net c o n s o l i d a t e d tangible and financial assets of puolic and p r i v a t e s e c t o r s , less net U.S. financial c l a i m s on f o r e i g n e r s , plus unallocated f i n a n c i a l assets (lines 11 • 25 - 30 • 33). (7) Lines 12 * 17 • 21. (8) Includes h o l d i n g s of foreign equities. (9) E x c l u d e s m u t u a l fund s h a r e s . (10) E x c l u o e s U.S. h o l d i n g s of foreign equities and foreign h o l d i n g s of U.S. e q u i t i e s . (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the sum of d i f f e r e n c e s b e t w e e n l i a b i l i t i e s for and h o l d i n g s of i n d i v i d u a l financial instruments; arises from timing and r e p o r t i n g d i f f e r e n c e s . Data 59., 9 106.. 0 43. 3 80..4 67,. 7 126 . 0 June 3, 1995 D o m e s t i c Wealth Domestic Wealth B.ll 5 D o m e s t i c Wealth 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 O u t s t a n d i n g s 1972 1973 1974 1 3767 . 1 4335 . 0 2 3 4 5 6 7 8 3754 .7 2831 . .8 1034 . 0 1076 . 4 296 .6 424 .7 922 .9 4321 .2 3243 .9 1185 .2 1223 . 1 365 . 1 470,.5 1 077,.3 9 10 12,.4 3767.. 1 13..8 4335,. 0 1975 1976 1977 5017 .7 5 5 5 7 .8 6180.8 5003 .7 3773 .7 1334.8 1459 .5 435 . 2 544 .2 1230 .1 5 5 4 3 .9 4137 .2 1463 . 4 16 38 . 0 440 . 0 595 . 7 1406 .7 6166 .8 4543 .4 1630 . 9 1784,.5 475 .3 652 .8 1623 .4 14.. 0 13,.9 5017,. 7 5557,.8 14,. 0 6180,.8 1978 1979 6 9 8 5 .6 8077 .6 9381 .9 1 0666 .4 6971 5119 1891 1981 521 725 1851 8 0 6 4 .4 5 8 8 2 .4 2211 .2 2250,.8 605,.3 815,.2 2182 . 0 9368 6759 2547 2585 702 924 2608 1 0652 .6 7612 .8 2840 . 0 2974 .2 784 .2 1014 .3 3039,.9 .3 . 7 .2 .4 .6 .5 .6 . 0 . 7 .1 .6 .6 .4 .3 1980 D o m e s t i c wealth (1) 1 Total tangible assets (2) R e p r o d u c i b l e assets (3) Residential structures Nlonres. plant S equip. Inventories Consumer durables Land at market value (4) 2 3 4 5 6 7 8 • U.S. m o n e t a r y 9 14 .3 13,.2 13 .9 13,.8 6985,.6 8077..6 9381..9 10666,.4 D o m e s t i c net w o r t h , by sector (5)(6) 11688..6 P r i v a t e sector net w o r t h , c o n s o l i d a t e d (7) gold 8 SDRs 10 11 4242..3 4815.. 1 5547..9 6202..7 6893..1 7753,. 9 8906.. 0 12 13 14 15 16 2427 .6 4137 . .2 671,.8 723.. 6 314,. 1 2658.. 1 4309,.7 794..8 536.. 2 320 ., 5 2941 . 6 4481.5 .4 877 , 336..5 326 . 0 3273..3 5109,. 0 961 ..5 453. 5 420 . 7 3647. 3 5857., 4 1 072,,8 654,, 1 483.,3 4075,. 1 6366..8 1204.0 556. 3 531 ., 4 4634. 3 7236, 3 1413.. 0 564,. 0 6 25.. 0 5309,. 0 8379, 3 1656.. 1 690.. 0 724 3 5967. 3 9666., 1 1892,.0 933..9 872..9 H o u s e h o l d net assets Sector net worth - E q u i t y in noncorp. bus. - C o r p . equities held (8)(9) - P e n s i o n fund reserves 12 13 14 15 16 17 18 19 20 1 7 03. . 2 369 ..2 320. 3 10*3., 7 1 97 0. , 4 419.. 1 396. 6 1154., 7 2332..8 462 . 5 438..6 1431 ., 7 2615.. 6 50 0 ,. 7 488. 6 1626 3 2893.,8 549., 7 557. 3 1786.,9 3238. 8 629.. 1 614. 6 1995.. 1 3 7 38,5 736. 3 724. 9 2277. 3 4364,.6 880.. 7 832,. 1 2651 ..8 4993..7 1 035..5 919.. 0 3039 ,. 1 Nonf lnan. b u s i n e s s net worth N o n f a r m n o n c o r p . business Farm b u s i n e s s N o n f a r m n o n f i n a n . corps. 17 18 19 20 21 22 23 24 Ill .. 4 164. 2 314., 1 366. 8 166. 6 183. 7 320. 5 317. 7 273. 5 186 .9 326.. 0 239. 5 313., 7 206 ., 4 420., 7 313. 3 352.. 0 233. 7 483. 3 365.. 0 440., 0 255. 0 531. 4 346. 4 6 28,. 1 340..8 724,.3 437,. 0 727., 7 391.. 1 872..9 536..3 Pvt. f inan . inst. net assets Sector net worth •Pension fund reserves - C o r p . e q u i t i e s held (8)(9) 21 22 23 24 25 26 27 28 29 -390., 0 -95.. 1 -298. 9 2. 9 1 .1 . -390 .6 -90 .6 -305. 2 4. 1 1 .2 -402. 6 -93. 9 -316 .2 6 .2 1 .3 -482. -99. 0 -392. 9 8. 0 1 .4 -542. 6 -100. 8 -452. 9 9 .6 1 .5 -584. 2 -38. 1 -507. 7 10. 0 1 .6 -615. 6 -83. 0 -545.3 10. 9 1 .7 30 31 50. 3 163. 1 54. 9 180 .2 56 . 3 206 .6 81 .4 234. 5 165. 4 359. 6 171 .0 414. 1 533., 2 293. 3 6 25., 0 385. 1 10301,.7 -629 -77 -566 11 1 .9 .3 .5 .9 .9 -690 .5 -79. 2 -626. 7 13. 4 2. 0 194. 0 502. 6 239. 7 585. 6 278. 6 672. 8 32 112. 8 125. 3 150 .6 153. 1 194. 2 243. 0 308. 7 345. 8 394. 3 33 -34. 9 -34. 7 -71 .6 -81 .0 -4. 2 -13. 1 -18. 8 -50. 1 -53. 2 11 Public sector net assets State and local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-spons. enterprises M o n e t a r y authority Net U.S. f i n a n c i a l claims on f o r e i g n e r s (10) 30 F g n . a s s e t s of U.S. r e s i d e n t s 31 - T o t a l U.S. assets held by f o r e i g n e r s , excluding equities 32 Unallocated finan.assets (11) (1) Located within 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 assets of f e d e r a l , state, and local g o v e r n m e n t s ; excludes land holdings of F e d e r a l Reserve B a n k s and g o v e r n m e n t sponsored e n t e r p r i s e s ; e x c l u d e s investments in intangible assets such as p a t e n t s . (3) At current cost. (4) Except for farm s e c t o r , estimate based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (5) N a t i o n a l net worth equals domestic net worth plus U.S. net claims on f o r e i g n e r s (lines 10 + 30) . (6) E q u a l s net c o n s o l i d a t e d tangible and financial assets of public and private s e c t o r s , less net U.S. financial c l a i m s on f o r e i g n e r s , plus unallocated financial assets (lines 11 + 25 - 30 * 33). (7) Lines 12 • 17 * 21. (8) Includes holdings of foreign e q u i t i e s . (9) E x c l u d e s mutual fund shares. (10) E x c l u d e s U.S. h o l d i n g s of foreign e q u i t i e s and foreign h o l d i n g s of U.S. e q u i t i e s . (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the sum of d i f f e r e n c e s between l i a b i l i t i e s for and holdings of individual financial instruments; arises from timing and r e p o r t i n g d i f f e r e n c e s . Data are in b i l l i o n s of d o l l a r s . 25 26 27 28 29 33 June 8, 1935 Domestic Wealth Domestic Wealth B.ll D o m e s t i c Wealth with Tangible 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 O u t s t a n d i n g s 1981 1 Domestic wealth (1) 2 3 4 5 6 7 8 Total t a n g i b l e a s s e t s (2) R e p r o d u c i b l e assets (3) Residential structures N o n r e s . plant S equip. Inventories Consumer durables Land at m a r k e t value (4) 9 • U.S. m o n e t a r y 10 gold & S D R s D o m e s t i c net w o r t h , by sector (5)(6) P r i v a t e sector net w o r t h , c o n s o l i d a t e d (7) 11 1982 1983 1984 1985 1986 1987 1988 1989 11680 .6 12244 .5 12810 .7 13630.. 7 14410 .4 15209 .1 16196 .8 17145 .9 18284 .8 1 11665 8335 3049 3363 836 1086 3330 12228 . 1 8 6 8 8 .1 3148 3 3589 . 0 817,. 1 1133 .7 3540 .0 12794 9008 3279 3707 827 1193 3786 13614.. 0 9528.,3 3448..6 3899. 4 898.,8 1281 .5 4085. 7 14392 . 0 1 C 047.2 3639 . 1 4112 . 7 904 .3 1391 .1 4 3 4 4 .8 15189 10639 3902 4322 887 1527 4550 16175 11339 4213 4515 950 1659 4836 17125 .2 11940 .5 4298 . 0 4810..3 1023,.8 1808,.4 5184,.7 18263 .7 12661 .5 4566 . 1 5084 .2 1381 .6 1929 .6 5 6 0 2 .2 2 3 4 5 6 7 8 21,. 0 9 .3 .2 .6 .3 .1 .2 . 1 16 . 4 15 .2 .6 .4 .9 . 1 .6 .8 .2 16.. 1 16. 7 18,.4 . 7 .6 . 1 .2 .8 .5 .0 19 .5 . 4 . 2 .2 .9 .6 .5 2 21,. 4 11680 .6 12244 .5 12810,. 7 13630. 7 14410..4 15209.. 1 16196 .8 20,.7 17145..9 18284 .8 10 12826 .6 13529 .9 14340..9 15262. 8 16185. 3 17179,.6 18329, 2 19379.. 0 20679,.6 11 12 13 14 15 16 H o u s e h o l d net assets Sector 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 <8)(9) -Pension 4:nd reserves 6491 , . 1 10341,.7 2057..8 839 . 9 952,.8 6926,.7 11054,.9 2060,,4 904,. 7 1163.. 1 7430..7 11955.,8 2109..7 1027..8 1387..6 8096 .6 12683. 2 2095. 3 951 .4 1539. 8 8710..3 13938,, 4 2134,. 4 1210..3 1883,. 4 9338,.8 15178..3 2199. 3 1398,.6 2241 . .6 10059,. 9 16176..7 2306,. 0 1383.. 0 2427,.8 10684..6 17274..3 2423..3 1513.. 7 2652,. 7 11431,.2 19014..2 2582 . 4 1828..5 3172.. 0 12 13 14 15 16 17 18 19 20 N o n f i n a n . b u s i n e s s net worth Nonfgrm noncorp. business Farm b u s i n e s s N o n f a r m n o n f i n a n . corps. 5 4 9 8 .5 1201 ,.7 918,. 7 3378,. 1 5656..8 1235.. 7 384.,6 3536.,6 5855..2 1289..5 879. 9 3685., 9 5892. 4 1360 .6 786. 9 3744. 9 5989,. 9 1456.. 9 723., 7 3809. 3 6079.. 2 1546.,2 694. 8 3838. 2 6266,.5 1617. 3 738., 0 3911 .2 6540,. 0 1710..2 .9 761 . 4067..8 6802..1 1846 , .5 785,.5 4170,. 1 17 18 19 20 21 22 23 24 Pvt. finan. inst. net assets S e c t o r net worth • 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 neld (8)(9) 837.. 0 402.. 4 952,,8 518. 2 946., 4 413. 5 1163.. 1 630 .2 1055.. 0 663., 0 1387 .6 795. 6 1273. 9 537 . 1539. 8 803. 4 1485., 1 6 25. 8 1883., 4 1 024.. 1 1761 .6 715. 9 2241 .6 1195. 9 2002. 8 795. 2 2427..8 1220. 3 2154.,4 336 .. 0 2652. 7 1384. 3 2446 ,3 2 3172.. 0 1 730.. 0 21 22 23 24 -920 . , 6 -90. 9 -84 8. 3 16 .3 2.. 4 -1101 . 0 -79 .3 -1041, 7 17. 4 2. 5 -1273. 6 -72. 6 -1223. 9 20. 1 2. 7 -1471. 7 -64. 6 - 1 4 2 9 ..8 19. 6 3., 0 -1706. 7 -66. 7 -1663. 7 20. 6 3. 1 -2301., 4 -121 . 7 -2212., 9 29., 4 3.8 25 26 27 28 29 -244. 8 1274. 2 30 31 25 Public sector net assets State and local g o v e r n m e n t s 26 27 U.S. g o v e r n m e n t Govt.-spons . enterprises 28 Monetary authority 29 -775..3 -99 . .3 -7 02..8 14. 6 2. 2 -1902. 7 -83.. 1 -1845. 4 22. 4 3. 4 -2091. 6 -33. 2 -2037. 8 25.,8 3.,6 Less: Net U.S. f i n a n c i a l claims on 30 f o r e i g n e r s (10) 31 F g n . a s s e t s of U.S. r e s i d e n t s - T o t a l U.S. a s s e t s held by foreigners, excluding equities 32 311 .8 727.,6 313. 5 76 7 .2 415.,8 453. 7 532. 7 645. 1 768. 6 922. 1 1 087. 9 1277. 1 1519. 0 32 33 U n a l l o c a t e d -58., 9 -51 .3 -104. 4 -150. 8 -188. 1 -231 .7 -280. 9 -285. 7 -338. 2 33 finan.assets (11) (1) 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 assets of f e d e r a l , state, and local g o v e r n m e n t s ; e x c l u d e s land holdings of F e d e r a l R e s e r v e B a n k s and g o v e r n m e n t sponsored enterprises; excludes investments in intangible assets such as p a t e n t s . (3) At current cost. (4) Except for farm s e c t o r , estimate based on d i f f e r e n c e b e t w e e n m a r k e t value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (5) N a t i o n a l net worth equals domestic net worth plus U.S. net c l a i m s on f o r e i g n e r s (lines 10 • 30) . (6) E c u a l s net c o n s o l i d a t e d tangible and financial assets of public and p r i v a t e s e c t o r s , less net U.S. f i n a n c i a l c l a i m s on f o r e i g n e r s , Plus u n a l l o c a t e d f i n a n c i a l assets (lines 11 * 25 - 3 0 + 33). (7) Lines 12 • 17 • 21. (8) Includes h o l d i n g s of foreign e q u i t i e s . (9) E x c l u d e s m u t u a l <und s h a r e s . (10) E x c l u d e s U.S. h o l d i n g s of foreign equities and foreign h o l d i n g s of U.S. e q u i t i e s . (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the sum of d i f f e r e n c e s between l i a b i l i t i e s for and h o l d i n g s of i n d i v i d u a l financial i n s t r u m e n t s ; a r i s e s from timing and r e p o r t i n g d i f f e r e n c e s . Data are in b i l l i o n s of d o l l a r s . 324. 8 857. 5 207. 7 852. 8 115. 2 883. 8 32. 1 954. 2 -51 .1 1 036. 7 -144. 2 1133. 0 June 8, 1995 Domestic Wealth D o m e s t i c Wealth 3.11 D o m e s t i c Wealth with Tangible A s s e t s at C u r r e n t Cost Ymar-End Outstandings 1990 Year-End Outstanaings 1991 1 18322 .8 18458 .5 18449 .5 19051 .8 20014 . 1 2 3 4 5 6 7 8 13300 13274 4795 5320 1110 2047 5026 18436 13615 4964 5419 1091 2138 4821 18429 . 9 14078 .3 5201 . 7 5549 .5 1104 .9 2222 . 2 4351 . 7 19031 . 7 14745.6 5521 3 5769 .6 1118 . 4 2336 .3 4286 .2 19993 . 0 15628 . 9 5856 .4 6060 .8 1220 . 9 249 C .8 4364 . 2 20 . 1 21 . 1 9 10 .8 . 0 .8 .7 .4 . 1 .8 22 . 0 18322,.8 .2 .1 . 9 . 9 .4 . 9 . 1 22 .3 19 .6 18458 .5 18449 .5 19051 .8 Domestic wealth (1) i Total t a n g i b l e a s s e t s (2) R e p r o d u c i b l e assets (3) Residential structures N o n r e s . plant 3 equip. Inventories Consumer durables Land at m a r k e t value (4) 2 3 4 5 6 7 8 * U.S. m o n e t a r y 9 gold 8 SDRs 20014.. 1 D o m e s t i c net w o r t h , by sector (5)(6) P r i v a t e sector net w o r t h , c o n s o l i d a t e d (7) 10 11 20940,.7 21320 . 7 21592 . 4 22336 . 1 23287 . 0 12 13 14 15 16 11579.. 4 19058..8 2529 , . 1 1716., 7 3233..6 12125 . 209 0 0. 2444.. 2468 . 3862 . 1 4 4 6 3 12444 .3 2 1 3 7 8 .8 2411 .5 2810.. 0 4213,. 0 12913.. 4 23054,. 1 2&20 . .5 3076.. 7 4643..5 13666.. 4 23713..6 2510,, 7 2885..9 4650..6 H o u s e h o l d net assets Sector net worth - E q u i t y in noncoro . bus. - C o r a . e q u i t i e s held (3)(9) - P e n s i o n fund reserves 12 13 14 15 16 17 18 19 20 6689 ..6 1778., 1 802. 2 4109. 3 6361 . 6 1734,.3 796 .. 1 3361 .3 6115,. 3 1656 . .5 '811 .3 3647..5 6250 .. 4 1646. 3 337..4 3766. 7 6522..6 1721 .5 856 .. 1 3944. 9 N c n f i n a n . b u s i n e s s net worth N o n f a r m n o n c o r p . ousiress Farm b u s i n e s s N o n f a r m n o n f i n a n . corps. 17 13 19 20 21 22 23 24 2671 . 7 1 029.8 3233. 6 1591 .8 2334.. 0 1 094.3 3862. 3 2123.. 1 3032. 8 1172. 6 4213.. 0 2352. 8 3172. 4 1298. 6 4643. 5 2769. 8 3098. 0 1281 .4 4650. 6 2333. 9 Pvt. fin an. Inst. net as Sector net worth 22 • P e n s i o n fund reserves 23 - C o r p . equities held :8 (9) 24 25 26 27 28 29 -2528. 9 -160. 1 -2405. 9 33. 1 4. 0 -3513. 6 -298. 7 -3269. 0 48. 8 5. 3 -3818. 1 -376 .3 -3504. 57. 1 5. 7 -2810. 5 -204. 6 -2646. 36. 1 4. 3 -3190. 3 -239. 4 -2998. 0 42. 2 4. 8 Public sector net assets State and local government U.S. g o v e r n m e n t G o v t . - s p o ^ s . enterprises M o n e t a r y authority li 25 26 27 28 29 Less : 30 31 - 2 6 6 .9 1 390.3 -346 .0 1392. 3 -472. 5 1387. 8 -632. 6 1495. 7 -836 .3 1594. 0 32 1657 .3 1 738.8 1860 .3 2128. 3 2430 .3 33 -355. 3 - 3 9 7 .7 -425. 1 -403. 2 -341 .1 Net U.S. financial claims on f o r e i g n e r : (10) 30 Fgn. assets of U.S. r e s i d e n t s 31 - T o t a l U.S. assets held by f o r e i g n e r s , excluding equities 32 Unallocated £ inan.assets (11) (1) Located witnin 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 assets of ^sderal, state, and local g o v e r n m e n t s ; excludes land holdings of F e d e r a l Reserve Bants and g o v e r n m e n t sponsored e n t e r p r i s e s ; excludes investments in intangible assets such as p a t e n t s . (3) At current cost. (4) Except for farm s e c t o r , estimate based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (5) N a t i o n a l net worth equals domestic net worth Plus U.S. net claims on f o r e i g n e r s (lines 10 + 30) . (6) E q u a l s net c o n s o l i d a t e d tangible and financial assets of public and p r i v a t e s e c t o r s , less net U.S. financial claims on f o r e i g n e r s , plus unallocated financial assets (lines 11 + 25 - 30 • 33). (7) Lines 1 2 * 1 7 + 21. (8) Includes holdings of foreign e q u i t i e s . (9) E x c l u d e s mutual fund shares. (10) E x c l u d e s U.S. holdings of foreign e q u i t i e s and foreign h o l d i n g s of U.S. e q u i t i e s . (11) S t a t i s t i c a l d i s c r e p a n c y . E q u a l s the sum of d i f f e r e n c e s between l i a b i l i t i e s for and holdings of individual f i n a n c i a l i n s t r u m e n t s ; arises from timing and r e p o r t i n g d i f f e r e n c e s . Data are in b i l l i o n s of d o l l a r s . 33 June 8, 1995 Net F o r e i g n A s s e t s Net Foreign Assets B . 1 0 9 Net F o r e i g n A s s e t s Held 8 Year-End Outstandings Year-End Outstandings 1945 1 U.S. net 2 3 4 oy U.S. R e s i d e n t s foreign assets F o r e i g n assets owned U.S. r e s i d e n t s (1) 1946 1950 1951 1952 1953 4.8 12.7 14.9 16.0 17.. 0 16.8 18.3 19.5 1 14.9 17.3 23.9 26.8 28. 1 31 .4 31.9 34.3 36.7 2 -.2 0.1 0.9 0.1 1.3 1.5 " " * 1., 4 0.. 1 1.4 0.1 1.5 0.1 1.4 0.1 3 4 5.0 2.9 0.5 8.0 2.8 0.8 0.1 0.3 0.5 0.3 12.3 2.8 1. 0 0.1 0.4 0.5 13.7 2.9 1.2 0.1 0.6 0.6 13.9 2.9 0.9 0. 1 0.3 0.5 14.. 0 3. 1 0. 7 0. 2 0. 3 0. 2 14.7 3.4 0.8 0.3 0.4 0.1 15.1 3.4 0.9 0.3 0.3 0.3 16.3 3.3 0.7 0.2 0.3 0.2 1.6 4.3 0.1 8.4 0.1 9.5 0.1 10.0 0. 1 10. 1 0.2 10.3 0.2 10.7 0.2 12.0 5 6 7 8 9 10 11 12 13 * * * 0.4 0. 4 « 0.5 * 0.4 0.5 0.5 14 15 10.2 0.6 0.3 8.4 0.9 11.4 0.6 0.2 9.6 0.9 12.3 0.6 0.3 10.7 0.7 15. 4 0 .6 0. 3 11 .8 2. 7 15.3 0.6 0.3 13.0 1.3 17.1 0.6 0.3 14.7 1.4 18.4 0.6 0.3 16.3 1.3 16 17 18 19 20 11.2 15.2 16.1 Credit m a r k e t i n s t r u m e n t s C o r p o r a t e bonds Bank loans n.e.c. Official Banks Other 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 14 15 S e c u r i t y debt Trade debt 0.4 0.3 16 17 18 19 20 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. a i r . i n v . a b r o a d C2)(3) Other 9.4 0 .6 0.4 7.2 1 .2 9.1 0.6 0.2 7.2 1 . 0 * by 1949 1.3 5 6 7 8 9 10 11 12 13 owned 1948 by U.S. o f f i c i a l fgn. e x c h a n g e and 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 21 U . S . a s s e t s 1947 foreigners . * 0.4 * 13.6 12.4 12.0 12.2 14. 5 17.2 21 22 23 24 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 2.7 1.6 0.4 2.3 1.6 0.2 1 . 7 1.6 0.3 2.2 1.6 0.5 2.0 1.7 0.8 2. 0 2. 0 1 .1 1 . 7 1.7 1.7 2.0 1.8 1 .8 1.5 2.4 1.7 22 23 24 25 26 27 28 29 30 31 22 33 34 35 36 S e c u r i t y RPs Credit m a r k e t instruments U.S. g o v e r n m e n t s e c u r i t i e s O f f i c i a l holdings Treasury 3.1 2.6 2.6 2.6 2.4 2.1 2.1 2.1 3.0 2.7 2.7 2.7 3.1 2.3 2.8 2.8 3.4 2.9 2.9 2.9 4. a 4. 3 4. 3 4. 3 4.9 4.3 4.3 4.3 5.1 4.5 4.5 4.5 5.8 5.0 5.0 5.0 37 38 39 40 41 - 0.5 0.2 0.3 0.2 0.3 0. 3 0.3 0.4 0.4 " 0.1 0.1 0.1 0.1 0. 2 0.3 0.3 0.4 25 26 27 28 29 30 31 32 33 34 35 36 Security credit Trade credit 0.1 0.4 0.1 0.4 0.1 0.4 0.1 0.4 0.1 0.3 0. 1 0. 4 0.1 0.4 0.1 0.4 0.1 0.4 37 38 M i s c e l l a n e o u s fgn. assets Direct invest, in U.S. (3) Other 5.3 2.5 2.8 5.4 2.5 2.9 4.0 2.6 1.4 4. 1 2.8 1 . 3 3.8 2.9 0.9 4. 1 3 4 0. 7 4.8 3.7 1 . 1 4.9 3.9 1 . 5.3 4.3 1 . 1 39 40 41 2.7 2.7 2.5 2.3 2.5 2. 9 3.5 3.7 3.7 42 0 .9 1. 0 1 . 0 0.9 0.7 1 .2 1.4 1.5 1.3 43 Private holdings T r easury U.S. c o r p o r a t e bonds (2) Loans to U.S. corp. bus. Open market paper Memo: 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 Foreign corporate equities 43 held oy U.S. r e s i d e n t s 42 (1) E x c l u d e s U.S. h o l d i n g s of foreign equities and foreign holdings of U.S. e q u i t i e s . (2) Through 1992, 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 a n f i n a n c i a l s u b s i d i a r i e s , and U.S. direct investment abroad excludes net inflows from those bond isues. (3) Direct investment is valued on a c u r r e n t - c o s t basis. Data are in b i l l i o n s of d o l l a r s . 0 June 6, 1995 Net Foreign A s s e t s Net B.109 Year-End Net Foreign Assets Held by U . S . Veer-End 1955 1956 1957 195* 1959 1960 1961 19. 7 21. 3 24. 7 28 7 31.2 31. 4 34.0 37. 9 40..4 U.S. 2 38. 4 40. 6 46. 4 51. 4 55.3 58. 9 63.5 69. 6 74..1 F o r e i g n assets owned U.S. residents 3 4 1. 2 0. 2 1. 0 0. 1 1. 6 0. 1 2. 0 0.,1 2.0 0.1 2. 0 0. 1 1.6 0.1 1. 8 0. 2 1. 2 0.,8 5 6 7 8 9 18 11 12 13 16. 6 3. 3 1. 2 0. 4 0. 4 0. 3 16. 6 3 1 1. 4 0. 4 0. 5 0. 5 17. 4 3. 4 1. 8 0. 5 0. 6 0. 7 18.,8 3 8 2. 1 0. 7 0. 6 0. 9 20.8 4.7 2.6 0.9 0.7 1.1 21. 4 5. 2 2. 9 0. 9 0. 7 1. 3 23.2 5.8 3.0 0.9 0.8 1.4 25, 5 6. 2 3. 7 1..0 1. 0 1.,7 27. 5 7, 2 4. 2 1 .0 1. 2 1. 9 0. 3 11. 8 0, 3 11. 8 0. 5 11. 8 0. 7 12. 2 0.6 12.8 0. 6 12. 8 1.2 13.2 1. 8 13. 7 1. 8 14.,4 14 15 0. 1 0. 5 0. 1 0, 6 0.,1 0. 8 0.1 0.8 0. 1 0. 9 0.1 1.6 0. 1 0.. 1. 7 2. 2 16 17 18 19 20 19. 9 0. 6 0. 6 17. 6 1. 2 22 2 0. 6 0..7 19,, 4 1..5 26. 4 0. 7 1. 3 22. 5 2 ,0 29. 6 0. 7 8 25.,4 1. 7 31.5 0.7 2.1 27.4 1.3 34. 4 0. 7 2. 4 29. 8 1. 5 36.9 0.8 2.9 31.9 1.3 40. 3 1.,0 3. 2 34..7 1.,4 42 3 1.. 1 3 .4 37. 3 0..5 21 18. 7 19 21. 6 22 23 24 1. 7 1, 5 2. 9 1. 7 6. 4 5. 5 5. 5 5. 5 1 22 6 24.1 27. 6 29.6 31. 7 33..7 2 .8 1..8 1..8 2 , 7 2 2 2 ,1 2 5 2 ,0 2.0 3.4 2.1 2. 1 2. 6 2. 1 2.1 2.9 3.0 3.,1 2 .9 3.,1 3 .2 3 .4 3.,0 6 .7 5 .8 5 .8 5 .8 7, 3 6,.1 6.,1 6,.1 7 5 5., 9 5.,1 5..1 7.5 6 . 0 4.4 4.4 11. 7 10. 4 8. 0 8. 0 12.6 10.7 8.6 8.6 13.,1 11. 0 8. 8 8..8 14..8 12..7 10. 3 10. 3 0..8 0,.3 1.6 1.6 2. 4 2. 4 2.0 2.0 2. 2 2 2 2 5 2 .1 0. 3 0..7 3 Outstandings 1962 1 0., 1 0. 7 Assets g Outstandings 1954 Foreign Residents - net foreign assets (1) 1 by 2 U.S. official fgn. exchange and net IMF p o s i t i o n U.S. private deposits 3 4 Credit market Instruments Corporate bonds Bank loans n.e.c. Official Banks Other C o m m e r c i a l paper A c c e p t a n c e 1 l a b s . to o a n k s U.S. government loans 5 6 7 8 9 10 11 12 13 S e c u r i t y debt T r a d e debt 14 15 Miscellaneous U.S. assets 16 U . S . e q . in I B R D , e t c . 17 U.S. government deposits 18 U . S . d i r . l n v . a b r o a d ( 2 ) ( 3 ) 19 Other 20 U.S.assets owned by foreigners 21 U.S. checkable dep. U.S. time deposits Net interbank claims 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 0. 4 0,. 0..5 0,.6 0.6 0. 6 0.7 0,,7 0. 6 0,.4 0,.7 l,.0 0.8 0. 8 1.3 1,.4 1,.4 Security RPs Credit market instruments U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U . S . c o r p o r a t e b o n d s (2) L o a n s to U . S . c o r p . b u s . Open market paper 37 38 0., 1 0. 3 0 .1 0 .4 0 .1 0 .5 0,. 1 0,.6 0.1 0.5 0.. 1 0. 7 0.1 0.8 0.,1 1..0 0..1 1..1 Security credit Trade credit 39 60 41 5. 5 4.,6 6 5 .0 .1 0 .9 7 .2 5 5 1,.8 7 .9 5 .7 2 .2 8.4 6.1 2.3 8. 2 6. 6 1. 6 8.1 6.9 1.2 8. 3 7. 4 0, 9 8 .1 M i s c e l l a n e o u s fgn. a s s e t s 39 D i r e c t I n v e s t . in U . S . 13) 40 Other 41 42 5.. 3 6 .6 7. 0 6 8.3 9., 9.3 11 .8 10.. 3 43 1 .9 2 2 .6 2 .2 3.1 3 7 4.0 4,.9 25 26 27 28 29 30 31 32 33 34 35 36 0.,6 4 .4 4 7 .6 0,.5 Memo: U.S. 4 .7 corporate equities h e l d by fore i g n e r s Foreign corporate equities h e l d by U . S . r e s i d e n t s (1) E x c l u d e s U . S . h o l d i n g s of f o r e i g n e q u i t i e s and f o r e i g n h o l d i n g s of U . S . e q u i t i e s . (2) T h r o u g h 1 9 9 2 , 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 l l l e a n f i n a n c i a l S u b s i d i a r i e s , and U . S . d i r e c t i n v e s t m e n t a b r o a d e x c l u d e s net I n f l o w s f r o m t h e s e b o n d I s u e s . (3) D i r e c t i n v e s t m e n t Is v a l u e d on a c u r r e n t - c o s t b a s i s . 42 43 J u n e 8, 1995 Net Foreign Assets Net 10 Year-End B.109 1 U.S. 2 Foreign assets owned U.S. residents Assets Held by U.S. net foreign assets (1) Credit market Instruments Corporate bonds Bank loans n.e.c. Official Banks Other 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 14 15 S e c u r i t y debt Trade deot 16 17 18 19 20 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir.inv.abrcad (2)(3) Other owned by Assets 1964 1969 Outstandings 1971 43.3 50.2 56.1 59.9 63.6 6 7 .7 67.2 68.7 54.9 1 80.4 91.5 98.8 106.0 115.9 1 2 6 .0 134.5 140.5 151.5 2 1.2 0.7 1.2 1.1 1.6 0.8 1.6 0.9 2.8 4 .8 1 .6 5.1 1.2 2.6 0.8 0.9 1.2 3 4 30.8 8.2 4.8 0.9 1.4 2.5 35.0 8.7 6.5 0.9 2.0 3.6 37.5 9.1 7.1 1.1 2.1 3.9 39.5 9.9 7.1 1.0 2.2 3.8 43.3 11.1 6.7 1.0 1.8 3.9 46 . 1 1 2 .2 6 .3 0 .8 1 .9 3 .6 49.2 13.2 6.0 0.8 2.1 3.2 52.1 14.1 5.8 0.6 2.0 3.2 56.6 15.0 7.3 0.8 2.4 4. 1 2.2 15.6 2.6 17.2 2.5 18.7 2.5 20.0 3.0 22.5 2 .9 2 4 .7 3.2 26.9 4.0 28.2 4.3 30.0 5 6 7 8 9 10 11 12 13 0.1 1.8 0.1 2.6 0.1 2.6 0.1 2.9 0.3 3.4 0 .5 3 .8 0.3 4.6 0.3 5.6 0.3 6.1 14 15 45.7 1.2 3.9 40.7 -.1 51.5 1.2 3.9 44.5 1.9 56.3 1.3 3.9 55.2 -4.1 61.0 1.3 4.2 58.3 -2.7 65.1 1.4 4.0 64.4 -4.6 6 9 .2 1 5 3 9 73, 3 -6 5 74.1 1.7 3.8 78.7 -10.1 79.2 1.9 3.8 89.1 •15.7 86.4 2.2 3.6 101.2 -20.6 16 17 18 19 20 37.2 41.3 42.7 46.1 52.3 58. 3 67.3 71.8 96.6 21 3.5 4.3 3.2 4.5 5.5 3.7 4.6 6. 1 3.8 5.0 6.4 6.7 5.3 7.7 7.3 6.2 8.8 16.8 6.7 7.1 10.5 6.5 7.5 5.8 22 23 24 15.9 13.7 11.1 11.1 16.9 14.3 11.5 11.5 17.2 14.4 11.4 11.4 16.5 12.9 9.9 9.8 29.8 22.8 18.5 18.4 56.5 49.4 45.0 45.0 3.3 1.7 1.3 0.8 3.0 1.3 1.7 1.4 19. 3 15. 0 11. 11. 3 3. 1 3 6 1. 3 2 3 1. 5 18.8 12.9 9.0 9.0 2.8 1.8 1.0 1 . 0 18.9 15.3 12.2 12.1 0.1 3.2 1.2 2.0 1.3 3.9 1.3 2.7 2.0 4.3 1.4 3.0 2.7 4.3 1.3 3.0 3.0 by U.S. official fgn. exchange and net IMF p o s i t i o n U.S. private deposits U.S.assets Foreign Residents Year-End 5 6 7 8 9 10 11 12 13 21 Foreign Outstandings 1963 3 4 Net foreigners 1.1 22 U.S. checkable dep. U.S. time deposits Net interbank claims 25 29 30 31 32 33 34 35 36 Security R?s Credit market instruments U.S. government securities Official holdings Treasu-y Agency Private holdings Treasury Agency U . S . c o r p o r a t e b o n d s (2) L o a n s to U . S . c o r p . b u s . Open market paper 1.4 1.6 2.0 2.2 2.2 2. 8 3.8 4.3 4.1 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Security credit Trade credit 0.1 1.5 0.1 1.8 0.2 2.1 0.2 2.7 0.3 3.3 0.6 4. 8 0.4 5.8 0.3 7.4 0.3 7.2 37 38 39 40 41 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 , in U . S . ( 3 ) Other 8.7 7.9 0.7 8.7 8.4 0.4 8.8 8.8 8.7 9.1 -.4 9.6 9.9 -.4 10. 9 10. 8 0.1 10.5 11.8 -1.3 10.0 13.3 3 3 12.7 13.9 -1.2 39 40 41 12.5 13.8 14.6 12.6 25.5 29.5 26.8 27.2 30.8 42 5.1 5.3 5.0 4.3 5.2 6.5 7.0 6.6 7.6 43 23 24 26 27 28 Memo: U.S. corporate equities 42 held by f o r e i g n e r s Foreign corporate equities 43 held by U . S . r e s i d e n t s 2.6 2.0 0.7 0.8 " C I ) E x c l u d e s U . S . h o l d i n g s of f o r e i g n e q u i t i e s a n d f o r e i g n h o l d i n g s of U . S . e q u i t i e s . (2) T h r o u g h 1992, 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 a n f i n a n c i a l s u b s i d i a r i e s , and U . S . d i r e c t i n v e s t m e n t abroad e x c l u d e s net i n f l o w s from those bond lsues. ( 3 ) D i r e c t i n v e s t m e n t Is v a l u e d on a c u r r e n t - c o s t b a s i s . Data are in billions of dollars. 5 9 7. 4 9., 4 June 3, 1995 Net Foreign A s s e t s Net B.109 Veer-End Net Foreign Assets Held by U.S. Year-End 1974 1973 1975 1976 1977 1978 1979 1980 1 50.3 54. 9 56. 0 81. 4 165. 4 171. 0 194. 0 239. 7 278.6 2 163.1 180. 2 296. 6 234. 5 359. 6 414. 1 502. 6 585. 6 672.8 3 4 0.7 2.2 0. 6 3. 3 1. 9 4. 9 2. 3 5. 8 4. 8 7. 4 5. 0 8. 8 5. 4 17. 1 5. 1 26. 9 13.0 31.4 5 6 7 8 9 10 11 12 13 61.1 16.0 10.4 1.0 3.5 5.9 67. 4 17. 0 13. 1 1. 4 5. 1 6. 5 3.2 31.5 4. 2 33.2 81. 2 19. 4 17. 8 1. 7 8. 2 7. 8 0. 2 11. 2 32. 7 95. 6 26. 5 21. 6 2. 0 9. 3 10. 3 0. 6 11. 1 35. 7 116. 0 35. 1 28. 4 2. 9 13. 5 12. 0 1. 3 12. 4 38. 9 129. 4 40. 1 31. 4 2. 9 16. 2 12. 3 1. 8 14. 2 41 .8 157. 6 44. 1 49. 9 5. 2 25. 7 19. 1 2. 9 15. 0 45. 7 172. 9 47. 8 53. 0 7. 3 21. 6 24. 1 4. 6 18. 6 48. 9 197.2 49.0 64.8 11.9 26.3 26.6 7.0 22.7 53.8 14 15 0.4 6.6 0. 2 8. 5 0. 2 11. 5 0. 3 12. 2 12. 5 13. 0 18.0 20. 2 25.6 16 17 18 19 20 92.2 2.5 3.5 126.4 -40.2 100. 2 2. 8 4, 1 145. 4 - 5 2 ., 1 106. 8 3. 4 3. 5 166. 4 -66. 6 118. 4 4.. 1 2..0 191 .. i - 7 8 .8 218. 9 5. 2 0. 9 212. 7 0. 1 257. 9 6. 0 0. 8 2 5 5 .. 1 -3. 9 304. 4 6. 6 0. 9 293. 5 3. 4 360. 5 7. 5 0. 9 348. 2 3. 8 405.7 8.3 1.9 404.2 -8.7 112. 8 125.3 150. 6 153.1 194.2 2 4 3 .. 0 308. 7 365. 8 394.3 14 15 Miscellaneous U.S. assets U.S. eq. m IBRD, etc. U.S. government deposits U . S . d i r . i,-iv . a b r o a d ( 2 ) C 3 ) Otner 16 17 18 19 20 U.S.assets owned by foreigners 4.. 1 161 .. 3 121. 9 106. 6 101 . 7 4. 9 15. 3 14. 2 I.. I 27..7 2. 9 8. 4 4.4 186.5 135.8 118.2 111.3 6.9 17.6 16.1 1.4 36.9 4.5 9.3 Security RPs Credit market instruments U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U . S . c o r p o r a t e b a n d s (2) L o a n s to U . S . c o r p . b u s . Open market paper 25 26 27 28 29 30 31 32 33 34 35 36 18.9 20 .8 24,.9 2 5 .2 Security credit Trade credit 37 38 30.0 27.7 2.4 58.4 48.9 9.5 56 .0 56 . 7 .7 79 .7 69 .6 10 . 1 98 . 1 88 3 9,.8 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 , in U . S . ( 3 ) Other 39 43 41 23.9 33.4 39.1 39.8 42.1 <48.3 64.6 9.0 9.6 9.5 10.1 U . 2 14.8 18.9 0.5 80.7 70.5 66.2 63.8 2.4 4.2 4.2 0.4 94.4 82.9 75.8 73.8 2.0 7.0 7.0 4.. 1 4.4 0. 5 71 ,.9 6 2 .3 6 0 ..1 5 8 .3 1 .8 , 2 .8 1..8 1.. 0 4,. 0 0..3 4 .8 4.6 0.3 5.3 5.5 0.5 5.6 37 38 0.. 4 8,.2 0.3 10.2 0 .3 1 2 .4 0.4 14.8 39 40 41 13 .5 14 .9 -1 . 4 22. 1 20.6 1.6 30 . 1 25 . 1 5 . 0 42 39. 1 33.5 43 10.5 10.0 28.6 142.5 125.9 16.6 U.S. corporate equities held oy f o r e i g n e r s Foreign corporate equities h e l d by U . S . r e s i d e n t s ( 1 ) E x c l u d e s U . S . h o l d i n g s of f o r e i g n e q u i t i e s a n d f o r e i g n h o l d i n g s of U . S . e q u i t i e s . (2) T h r o u g h 1 9 9 2 , 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 a n f i n a n c i a l s u b s i d i a r i e s , and U . S . d i r e c t I n v e s t m e n t , a b r o a d e x c l u d e s net i n f l o w s from t h o s e bond i s u e s . ( 3 ) D i r e c t i n v e s t m e n t Is v a l u e d on a c u r r e n t - c o s t b a s i s . Data are in billions of 21 2 4 170. 5 138. 128. 5 1 2 4 .. 0 4. 5 9.. 9 8..9 1..0 24 .7 0..9 6 .5 0.5 66.0 58.4 55.0 54.1 0.9 3.5 1.1 2.4 3.1 29 30 31 32 33 34 35 36 S e c u r i t y debt Trade debt 0. 3 1 4 2 .. 1 113. 3 105, 4 101 , . 1 4, 3 8 . 0 7..6 0,.4 2 2 .1 0..6 6 . 0 6 5 .. 1 5 8 ., 0 53. 8 53 5 0. 3 4, 2 1 ,3 2 .9 3 .1 28 5 6 7 8 9 10 11 12 13 23.5 25.8 -17.1 16.9 20.7 -15.4 27 Credit market Instruments Corporate bonds Bank loans n.e.c. Official Banks Other C o m m e r c i a l paper A c c e p t a n c e 1 l a b s . to b a n k s U.S. government loans 23. 4 24. 6 9. 5 13.7 22.6 -9.5 26 U.S. official fgn. exchange and net IMF p o s i t i o n U.S. private deposits 19. 0 22. 2 -10. 0 14. 0 2 1 ..1 0. 4 25 by 19. 3 2 1 .,0 -16. 4 11.2 13.4 1.6 23 24 Foreign assets owned U.S. residents Outstandings U.S. c h e c k a b l e deo. U.S. time d e p o s i t s Net Inter sank claims 8. 3 10. 6 6. 8 22 Assets 11 Residents Outstandings 1972 Foreign dollars. 22 23 24 42 43 June 8, 1995 Net Foreign Assets Net 12 Year-End B . 109 N e t Foreign net foreign (1) 5 6 7 6 9 10 11 12 13 Credit market Instruments Corporate bonds Bank loans n.a.c. Official Banks Other Commercial paper A c c e p t a n c e 1 l a b s , to b a n k s U.S. government loans 14 15 S e c u r i t y debt Trade debt 16 17 16 19 20 Miscellaneous U.S. assets U . S . e g . in 1 9 3 0 , e t c . U.S. government deposits U.S. dir.inv.abroad C2)(3) Other 21 U.S.assets owned 1963 1965 Outstandings 3 1 3 .5 3 2 4 .8 2 0 7 .7 1 1 5 .2 3 2 .1 727 .6 7 6 7 .2 8 5 7 .5 6 5 2 .8 6 8 3 .8 14 .8 41 .6 17 .6 5 5 .2 17 .6 147 .3 16 .2 1 4 4 .7 2 1 0 .4 61 . 1 33 .8 5,. 4 15,. 1 13, 3 15..1 38 2 62. 3 2 2 7 .7 6 4 .2 37 .4 6 .5 14 .2 14,.6 21 .5 36..0 66,.6 2 3 5 .5 6 6 .0 30 .6 7,.6 11..0 12. 2 27..7 39..0 70. 0 -51 .1 - 1 4 4 .2 - 2 4 4 .8 9 5 4 .2 1036 . 7 1 1 3 3 .0 1 2 7 4 .2 2 4 .8 1 5 3 .2 29 . 1 1 8 4 .6 2 4 .4 196 .1 27 .1 2 1 8 .2 53 .6 2 6 2 .9 220 54 67 12 21 33 10 29 57 foreigners .7 .5 .6 .6 .6 .3 .6 .6 .9 3 4 236 .7 71,.6 27,.9 6. 2 9..7 12..1 33. 9 31. 6 71. 4 238 3 7 4 .9 26 .9 6,.2 10..7 10..0 37..4 26. 3 72, 8 2 4 5 .0 6 2 .3 2 3 .3 5 .3 7 .6 10 2 41, 2 27, 3 70..9 251 .4 8 9 .2 21 .5 4 .6 7 .8 8, 9 49. 9 24. 9 65. 8 261 .2 94 . 1 21 .4 3 .4 8,.6 9,.4 63.. 0 19..6 63. 2 5 3 18. 3 17. 2 16. 5 16. 3 15. 6 25. 8 26. 6 4 2 4 .1 9. 3 1. 6 426. 4 -13. 2 465. 8 10. 6 1 .8 419. 8 33. 6 4 4 7 .,7 11. 3 1 .8 413. 0 24. 7 437. 9 12. 9 2. 1 403. 6 19. 4 452. 8 14. 4 1. 9 424. 7 11. 6 486. 7 15. 9 0. 9 454. 8 15. 0 5 5 3 .,1 17. 2 0. 8 523. 2 12..0 610. 4 19. 6 0. 7 538. 2 52. 0 667. 9 20. 7 0. 6 577. 2 69.,4 18., 1 415. 8 453.7 532. 7 645. 1 766. 6 922. 1 1087. 9 1277. 1 1519. 0 22 23 24 U.S. checkable dep. U.S. time deposits Net interbank claims 19. 7 26. 1 -55. 6 16. 0 34. 9 -62. 5 17. 5 35. 4 -50. 3 19. 7 40. 0 -47. 5 21 . 2 43. 7 -30. 9 23. 9 41 . 0 -15. 2 22. 5 42. 0 29. 3 22. 0 45. 0 35. 2 22. 5 43. 1 27. 7 25 26 27 26 29 30 31 32 33 34 35 36 Security RPs Credit market instruments U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U . S . c o r o o r a t e b o n d s (2) L o e n s to U . S . c o r p . b u s . Open market paper 4.4 217.3 145.3 125.1 117.0 6.0 6.7 262.5 173.3 137.0 129.7 7.3 36.3 336 2.5 74.9 27.2 7.1 6.6 7.5 436.2 241.3 145.1 136.4 10.9 547.8 291.5 178.9 173.3 5.6 112.5 96.1 16.5 13. 1 604. 9 323.1 220.5 213.7 13.0 739.5 367.2 260.9 253.0 102.5 126.2 19.9 185.4 86.5 9.0 153.9 25.4 199.3 111.5 11.9 17.2 633.3 469.3 263.7 257.3 6.4 205.5 166.5 39.1 211 .9 137.9 14.2 37 36 Security credit Trade credit 39 43 41 M i s c e l l a n e o u s *gn. assets D i r e c t I n v e s t . in U . S . (3) Other 8.1 20.2 16.5 1.7 47.9 15.7 8.0 255.6 160.4 132.6 124.9 7.7 27.8 25.6 2. 0 66.3 20.9 6.3 in b i l l i o n s 62. I 3.7 90.5 51.7 6.3 6.6 96.2 88.0 6.3 126.4 60.3 6.2 166.6 81.7 6.0 6.8 62.6 6.0 173.9 159.9 14.0 173.3 176. 9 -3.5 64.4 76.3 16.5 17.4 of dollars. 6 7 8 9 10 11 12 13 14 15 16 17 16 19 20 22 23 24 25 26 27 26 29 30 31 32 33 34 35 36 37 38 210.6 234.1 164.4 211.2 259.3 231 .3 281.0 22.9 28.0 265.8 15.2 344.0 313.5 30.6 416.5 374.3 42.1 537.2 436.6 96.4 96.1 125.6 168.9 175.6 201.0 251.2 42 26.2 26.0 41.0 63.0 69.6 66.0 119.9 43 26.2 ( 1 ) E x c l u d e s U . S . h o l d i n g s of f o r e i g n e q u i t i e s and f o r e i g n h o l d i n g s of U . S . e q u i t i e s . ( 2 ) T h r o u g h 1 9 9 2 , 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 i e a n f i n a n c i a l s u b s i d i a r i e s , and U . S . d i r e c t i n v e s t m e n t a b r o a d e x c l u d e s net i n f l o w s f r o m t h o s e o o r d i s u e s . ( 3 ) D i r e c t i n v e s t m e n t is v a l u e d on a c u r r e n t - c o s t b a s i s . are 361.0 210.4 144.7 136.2 6.5 65.8 30.1 Memo: U.S. corporate equities 42 held by f o r e i g n e r s Foreign corporate equities 43 h e l d by U . S . r e s i d e n t s Data Assets 1967 311 .6 26 by Foreign Residents by U.S. official fgn. exchange a n d n e t IMF p o s i t i o n U.S. private deposits 3 4 U.S. Year-End assets Foreign assets owned U.S. residents 2 by Outstandings 1961 1 U.S. Assets Held 100.6 39 40 41 June 3, 1995 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 B . 1 3 9 Net F o r e i g n A s s e t s Held by U.S. R e s i d e n t s Year-End O u t s t a n d i n g s Year-End 1990 1991 1 -266.9 -346 .0 2 1390.3 1392 .8 1993 1994 - 4 7 2 .5 - 6 3 2 .6 -886.3 U.S. net 1387 .8 1495 .7 1594.0 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 foreign 1 3 Outstandings assets CI) by 2 3 4 61.3 304.3 55 .4 289 .6 51 .8 280 . 1 5 3 .4 268 .4 53.2 298.5 U.S. o f f i c i a l fgn. exchange and 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 8 9 10 11 I?. 13 285.0 115.4 18.5 2.8 5.9 9.8 75.3 16.3 59.3 298 .8 129 .5 21 .6 2. 4 6. 9 12 .3 81 .8 12 .0 53 .9 310 .9 143 . 9 23 .9 3 .3 7 .6 13 . 0 77 .7 11 .3 54 . 1 357 .8 203 .4 24 .6 2 .4 8 .8 13 .5 68 . 7 8 .2 52 .9 348.1 220.9 26. 1 2.2 8.8 15.2 41.4 7.9 51.7 Credit market instruments C o r p o r a t e bonds Bank loans n . e . c . Official Banks Other C o m m e r c i a l paper A c c e p t a n c e 1 labs. to banks U.S. g o v e r n m e n t loans 5 6 7 a 9 10 11 12 13 14 15 27.4 30 . 4 31 .6 33 .2 36.8 S e c u r i t y debt Trade debt 14 15 16 17 18 19 20 712.4 22. 0 0.6 632.6 57.1 718 .5 23 .5 1 .6 . 661 . .7 31 . , 7 713 .5 25 . 0 1 .6 676 . 7 10.. 2 733.. 0 26., 1 1 .. 9 716 2 38,. 9 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 deposits U.S. dir.ir.v.abroad (2) (3) Other 16 17 Id 19 20 21 1657.3 22 23 24 22.2 42.6 53.3 25 26 27 28 29 30 31 32 33 34 35 36 1738,.8 859.4 27.5 1.9 774.6 55.6 1860 ,3 2123 ..3 2480.3 20 .8 42.. 0 36..3 22 3 38. 8 74. 2 21 .6 37 .1 113. 8 25.2 38.3 210.7 16.7 918.3 502.1 295.0 287.9 7.1 207 . 0 162.4 44.6 217.2 186.7 12.3 16. 8 958. 1 55 9.. 0 3:5. 9 307. i 8. 8 243. 189 .5 53. 6 233. 152. 7 13. 0 23. 5 1052. 7 628. 4 335. 7 323. 0 12. 7 292. 7 22&. 8 67 .9 251 .5 159 .9 12. 9 27. 7 1171 .3 742. 6 388. 5 370 .9 17 .6 354. 1 254. 1 100. 0 275 . 0 137. 1 18. 6 27.0 1306.6 829.6 425.0 601.6 23.6 606.6 287. 0 117.6 311.5 139.9 23.8 37 38 44.2 43. 5 46 .3 49 .8 52. 4 39 40 41 560.1 463.1 91.9 621. 3 491. 9 129. 4 602. 5 497. 1 105. 4 707 . 1 516 .7 190. 4 822.2 576 .8 245.6 42 221 . 7 271 .9 300 .2 340 .0 328.9 43 110.0 158. 8 178. 1 297. 7 330.6 U . S . a s s e t s owned by foreigners 21 U.S. c h e c k a b l e dep. U.S. rime deposits Net interbank claims 22 23 24 S e c u r i t y RPs C r e d i t m a r k e t instruments U.S. g o v e r n m e n t securities O f f i c i a l holdings Treasury Agency Private holdings Treasury Agency U.S. corporate bonds (2) Loans To U.S. corp. bus. Open market paper 25 26 27 28 29 30 31 32 33 34 35 36 S e c u r i t y credit Trade credit 37 38 39 M i s c e l l a n e o u s fgn. assets D i r e c t invest, in U.S. (3) 40 Other 41 U.S. c o r p o r a t e e q u i t i e s held by foreigners F o r e i g n c o r p o r a t e equities held by U.S. r e s i d e n t s (1) E x c l u d e s U.S. h o l d i n g s of foreign e q u i t i e s and foreign h o l d i n g s of U.S. equities. (2) Through 1992, corporate bonds include net issues by N e t h e r l a n d s A n t i l l e a n financial s u b s i d i a r i e s , and U.S. direct investment abroad excludes net Inflows <rom those bond isues. (3) Direct investment is valued on a c u r r e n t - c o s t basis. Data are in o i l l i o n s of d o l l a r s . 3 4 42 43 J u n e 8, 1995 T a n g i b l e Asset H o l d i n g s Tangible Asset H o l d i n g s B . 1 2 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 1 4 Year-End Outstandings Year-End O u t s t a n d i n g s 1965 1946 1947 1948 1949 1950 499. 2 192. 3 78, 6 88. 4 136.,8 3., 1 595..9 220..1 92 .8 103..8 175.,7 3..4 711. 4 260. 7 114. 9 120. 6 211. 3 3. 7 777. 8 294. 7 116. 3 130. 7 232. 2 3. 9 810..8 323..5 113.. 1 134.. 1 236.. 0 4.. 1 927, 2 373,. 1 136,.2 145,.9 267,.5 4..5 1028 . 0 419.. 1 149 . 4 155,.8 298,.7 5.. 1 7 Plant and equipment (1) Household sector--nonprofits 8 9 Farm business N onfarm noncorp. business 10 N o n f a r m nonfin. corp. bus. 11 Financial institutions 12 115. 4 6.,4 7.,0 14.,8 84. 6 2. 6 141 ..8 8..2 9..0 18..6 103.,3 2..7 172. 5 10. 0 11. 9 23. 1 124. 6 2. 8 193. 6 10. 9 14. 5 25. 9 139. 2 3. 0 205..2 11 .3 16. 5 27., 0 147 .3 3..1 228 .4 13,.0 19.. 0 30,.3 162..7 3,.4 253 .5 14..8 21,.4 33,.4 180,. 0 3,.8 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 Household sector--nonprofits 15 Farm b u s i n e s s 16 N o n f a r m noncorp. b u s i n e s s 17 N o n f a r m nonfin. corp. bus. IS Pvt. f i n a n c i a l i n s t i t u t i o n s 19 136., 0 70. 2 3. 3 11 ,4 . 50..1 0, 9 160..3 85..1 3..8 13. 2 57..2 1 .. 1 190. 5 104. 5 4. 3 15, 2 65. 2 1 .3 210. 7 119. 6 4. 5 16. 3 68. 9 1 .4 223. 3 130..0 4..6 16. 8 70. 3 1 .6 . 249,.3 150,. 0 4..8 17,. 9 74..7 1 .8 . 51.,4 14.,1 7. 2 30.. 0 71.. 0 19..6 9. 3 42. 1 94. 7 35. 4 10. 4 48. 9 98. 6 32. 3 12. 1 54. 2 110. 3 36., 1 13,.6 60..6 1 T o t a l h o l d i n g s of t a n g i b l e s H o u s e h o l d sector 2 Farm business 3 4 N o n f a r m noncorp. b u s i n e s s N o n f a r m nonf in. corp. bus. 5 6 F i n a n c i a l institutions 20 I n v e n t o r i e s (2) Farm business 21 Nonfarm noncorp. business 22 N o n f a r m nonfin. corp. bus. 23 24 C o n s u m e r durables (households) 25 Land at market value (3) H o u s e h o l d sector 26 Farm business 27 Nonfarm n o n e o r e . business 28 N o n f a r m n o n f i n . corp. bus. 29 Pvt. f i n a n c i a l i n s t i t u t i o n s 30 89. 2 28. 4 11 .7 49.. 1 1951 1952 1082. 3 455. 2 148. 9 159.,9 313., 1 5. 3 1953 1131..6 486. 3 148., 1 163. 6 328., 0 5.,5 1 2 3 4 5 6 268..8 15.8 22. 8 34. 4 191 .9 4.,0 232.,7 16. 5 23., 4 35. 5 203.. 1 4. 3 7 8 9 10 11 12 273,. 1 168..8 5.. 0 18,.9 78..5 1.,9 288. 2 182. 3 5.. 1 19., 1 79 .8 1. 9 300. 7 194. 2 5.. 1 19. 2 30. 2 2.. 0 13 14 15 16 17 18 19 123..1 38. 6 14, 3 70 .2 120.,7 35..4 14., 0 71 .3 122.. 0 34,.4 14,.5 73.. 1 20 21 22 23 46..2 53. 2 65. 1 76 .3 86..6 108, 2 124,. 4 134.. 0 143.. 0 24 150. 3 66..1 46., 0 16. 4 21 .2 0 .5 169..6 69. 3 51 , . 1 18.. 7 29, 2 0..8 183. 6 76. 7 52. 4 21 .9 36. 6 0. 9 198. 7 83. 4 53. 2 23. 9 37. 3 0 .9 206. 6 , 0 91 . 51 .4 25.. 1 38.. 1 1 ,. 0 231 , 0 97., 1 63. 2 27. 3 42.,4 1 ,. 1 253.,9 106.. 1 70. 5 29 . .5 46. 6 1 .3 270. 5 118.. 0 71 ., 6 31 . 7 47. 9 1 .. 3 283, 2 127,.5 71..2 33 49 , ,9 1 .3 . 25 26 27 28 29 30 363.,1 145.,8 60.,5 75.. 7 78.. 7 2. 5 423..8 166.. 4 68.,7 87..5 98..4 2..8 490 .8 195. 0 73. 5 100. 9 118. 3 3. 1 529 .4 217. 7 76. 0 107. 4 125. 2 3. 1 552., 7 236.. 1 75.. 1 110., 0 128. 3 3. 2 614.. 0 263..8 38.,8 118, 0 140.. 0 3..5 673..5 293 98,. 0 125,.4 153.. 3 3..8 712., 9 319.,8 99. 9 129. 2 160 .2 3. 9 743. 5 , 7 341 . 99 .8 131 .6 166. 6 4.. 0 31 32 33 34 35 36 Memo: 31 Total real estate (4) H o u s e h o l d sector 32 Farm b u s i n e s s 33 N o n f n o n c o r p . business 34 N o n f a r m nonfin. corp. bus. 35 Pvt. f i n a n c i a l institutions 36 CI) At current cost. (2) At y e a r - e n d p r i c e s . (3) Except f o r farm sector, e s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value 3f s t r u c t u r e s . (4) Sum of land, n o n r e s i d e n t i a l p l a n t , and - e s i d e n t i a l s t r u c t u r e s . Data are in b i l l i o n s of d o l l a r s June 8, 1995 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s B. 12 D i s t r i b u t i o n of T a n g i b l e Assets by Sector Year-End O u t s t a n d i n g s 1954 1173 514 150 167 336 6 1 2 3 <4 5 6 Year-End Outstandings 1955 1956 .8 .4 .1 . 0 .3 . 1 1263 . 0 557 .9 154 . 1 176 .4 368 . 0 6 .6 1369 .1 603 .2 162 . 1 185 .4 410 .8 7,.6 7 3 9 10 11 12 295.. 0 17,.6 23..7 36..7 212,.5 4. 5 322 . 0 19 .6 24 .8 40 .6 .7 231 , 5 .2 13 14 15 16 17 18 19 317.,9 209 ., 7 5. 2 19. 3 81 ..7 2.. 0 20 21 22 23 118..6 32. 5 14. 71 .. 7 1957 1438 634 169 190 436 8 1958 1959 1960 1961 1962 1608 . 0 730 . 0 188 . 1 203 .3 476 .3 9 .7 1665 .8 761 .2 194 . 9 208 .8 490 .5 1 0.3 1734 . 9 794 .5 202 216 .3 509 . 9 11..3 . 7 .3 .3 .3 .6 .2 1491 .4 664 . 1 179 .7 194,.1 445 . 1 8 .5 358,. 1 22 . 1 25 .9 44,.9 259,.3 6.. 0 383 . 0 23,. 7 26 .4 47,.3 279 2 6.. 4 395 .2 25,. 0 27,. 0 48,.5 287 .9 6 .8 411..7 26 .6 27 .7 50,.5 299 .7 7,.3 423 .5 28 . 1 28 .2 51 . .6 307..8 7.. 7 435 . 7 30 . 4 28 .8 53 . 1 315. 2 8..2 453.. 33.. 29.. 55., 326.. 9., 342,.5 231 , . 1 5,. 4 19,.6 84..3 2.. 1 361,.8 248.. 4 5,,5 19..8 85..9 2..2 375,.6 261 , .5 5..6 19,.6 86..6 2, 3 389,. 0 273..4 5,.8 19,.4 87,.8 2,.6 408,.8 290,.5 6..0 19.. 4 89..9 2..9 426.. 0 305..6 6..2 19. 2 91.,7 3.,2 442,. 4 318,.3 6 .6 . 19..2 94, 2 3 .6 460 . 332.3 7., 1 19.. 1 97. 6 4. 3 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 Household sector--nonprofits Farm b u s i n e s s N o n f a r m noncorp. b u s i n e s s N o n f a r m nonfin. corp. bus. Pvt. financial institutions 13 14 15 16 17 18 19 124,.9 30.2 15..3 79 . , 4 133., 9 30. 4 16.. 0 87. 5 137 ,3 31 , .5 16,.5 89 ..3 137. 5 33 .3 .9 16 , 86 ..8 141 ..2 31 .6 16 . 9 92. 7 145. 2 33. 0 16.,6 95. 6 147,. 1 33.. 7 15..6 97 . ,8 153. 4 34..3 15. 8 102. 8 I n v e n t o r i e s (2) Farm b u s i n e s s N o n f a r m n o n c o r p . business Nonf arm ncn'i.n. corp. ous. 20 21 22 23 1555 699 184 199 463 9 .5 . 1 .4 .3 .5 .1 4 0 9 4 1 0 Total h o l d i n g s of tangibles H o u s e n o l d sector Farm b u s i n e s s Nonfarm noncorp. business N o n f a r m nonf in. corp. bus. Financial institutions 1 2 3 4 5 6 Plant and equipment ' 1) 7 H o u s e h o l d sector--nonor of its 8 Farm b u s i n e s s 9 N o n f a r m noncorp. b u s i n e s s 10 N o n f a r m n o n f i n . corp. bus. 1 1 Financial institutions 12 24 147.. 1 157 ,3 , 9 171 . 176..2 182.. 0 189., 0 193. 7 196. 8 202. 3 Consumer 25 26 27 23 29 30 295. 2 134. 9 74. 5 34. 3 50 .0 1 .6 316. 3 144. 5 79..4 36. 3 54. 7 1 .4 343. 4 155. 3 86. 0 38. 6 61. 8 1 .6 366.,6 167., 4 91 .8 39. 9 65. 8 1 ,7 387..8 178.. 0 99 . ,4 40. 9 67.,8 1. 7 404. 8 187. 0 ICS., 7 42.. 0 68. 3 1. 8 419. 6 196. 3 107. 7 43. 4 70. 2 2. 0 443. 7 2C8. 7 113. 2 46.. 0 73. 3 2. 1 465.3 219. 7 118. 6 48. 0 76. 7 2. 3 Land at marte t value (3) H o u s e h o l d sector Farm B u s i n e s s Non farm ^onccrp. business N o n p a r m nonfin. c o - p . bus. Pvt. f i n a n c i a l institutions 31 32 33 34 35 36 778. 8 365. 5 103. 6 134. 5 170. 8 4. 4 839. 2 398. 5 1 09.5 141 .. 1 185. 4 4. 8 905. 0 429. 0 117. 2 147. 3 206. 1 5. 4 953. 2 455. 6 123. 0 150. 6 218. 2 5. 8 994.. 0 679., 4 130. 6 153. 6 224. 3 6. 1 durables (households) 24 25 26 27 23 29 30 Memo: 1 338.9 507. 1 137. 4 158. 0 230. 0 6 .5 1 076.5 533. 2 139. 7 161. 9 234. 8 7 .0 1 125.7 561 . 1 145. 9 163. 5 242. 6 7 .6 1 175.5 583. 6 152. 1 175. 9 250. 5 8. 4 Total real estate (4) H o u s e h o l d sector - a r m business N o n f a r m n o n c c r p . business N o n f a - m nonfin. corp. ous. Pvt. financial institutions ( 1) At current cost. (2) At year-end p r i c e s . C 3) Except for farm sector, estimate based o difference between market value of -eal estate and c u r r e n t - c o s t value of structu (4) Sum of land, n o n r e s i d e n t i a l plant, and r e s i d e n t i a l s t r u c t u r e s . Data are in b i l l i o n s of dollars. 31 32 33 34 35 36 June 8, 1995 T a n g i b l e Asset H o l d i n g s 16 Year-End Tangible Asset Holdings B.12 Distribution of Tangible A s s e t s by Sector Outstandings Year-End O u t s t a n d i n g s 1 Total h o l d i n g s of tangibles H o u s e h o l d sector 2 3 Farm b u s i n e s s 4 Nonfarm noncorp. business 5 N o n f a r m nonf in. corp. bus. 6 Financial institutions 1811 .4 833 . 0 211 .0 223 .8 531 .5 12 . 1 1906 874 219 236 562 13 . 7 .9 .7 .2 .8 2028 919 236 250 606 15 .6 .2 .5 .9 .5 .5 2200 991 248 271 670 17 .3 .8 .7 .8 .4 .6 2 3 5 3 .6 1059 .4 261 .2 288,. 4 725,. 1 19..5 2603 1182 277 322 798 23 .2 . 0 .3 .5 . 1 .3 2851 1282 292 356 886 33 .2 .8 .0 .5 .5 .4 3058 . 0 1363 .9 301 .9 385 .5 968 .7 38 . 1 .3 . 4 .4 .8 .8 .0 878.8 71 .5 53 .3 109 .2 619 .9 24 .9 967 80 58 121 678 29 3337 .2 1478 .1 327 .5 430 .3 1057 .2 44 . 1 1 2 3 4 5 6 7 Plant and e q u i p m e n t CI) Household sector--nonprofits 8 9 Farm b u s i n e s s 10 Non f arm n o n c o r p . b u s i n e s s 11 N o n f a r m nonfi.n. corp. bus. Financial institutions 12 472 35 31 58 337 9 .9 .8 .4 . 1 .9 .7 503 . 4 38 .3 33 . 0 61 .9 355 .3 11.. 0 542 .3 42 .8 35 .5 67 .8 383..6 12..5 598 . 7 47 .5 38 .7 75 .3 422..9 14,.2 649,. 4 50..9 .6 41 . 81 . 0 460,. 0 15..9 719 3 57 .2 45 .2 89 . 1 508 . 7 19.. 1 796 64 49 98 561 22 13 R e s i d e n t i a l s t r u c t u r e s (1) 16 Households--own8r-occupants 15 Housenold sector--nonprofits 16 Farm B u s i n e s s 17 Nonfarm noncorp. business 18 N o n ' a r m n o n f i n . corp. bus. 19 Pvt. f i n a n c i a l institutions 474,. 1 342.4 7,.5 18..8 100. 3 5.. 1 505..6 365 . 1 8..3 19.2 107..1 6. 0 532..5 385.. 0 9. 0 19. 2 112.. 3 6.,9 576 , .9 417., 7 10., 0 20.. 1 121..2 7..9 608.,7 441 .,8 10. 7 20. 6 127.. 1 8. 6 683..9 496,.2 12,. 0 22, 2 143,. 0 10., 4 752 . 0 544..3 13..2 23,.5 158,,5 12,.5 0.. 1 795 . 0 574,.4 13,.7 24..2 168..6 14,.1 0..1 886 .8 640 .4 14,.9 25..7 189..1 16..6 0..1 13 14 15 16 17 18 19 20 I n v e n t o r i e s (2) Farm b u s i n e s s 21 22 N o n * a - m n o n c o r p . business 23 Nonf arm nor, fin. cor?, bus. 158,.7 34,. 9 15.. 1 108., 7 164. 2 33. 3 15.. 1 115..8 178.. 4 37, 4 15..8 125. 2 195..1 36 .3 16.,4 142. 3 206.. 0 36. 5 17.. 1 152. 4 221 ,3 38.. 7 17 .6 165.. 0 242 .5 41 , ,9 18..3 182. 3 249,.3 40 . .1 19.. 1 190.. 1 267 .4 45 . 0 21 .7 , 200..7 20 21 22 23 24 Consumer durables (households) 25 Lard at market value (3) 26 H o u s e h o l d sector 27 Farm o u s i n e s : N o n f a r m n o n c o r p . business 28 29 Ncn farm no .n fin. corp. bus . 30 Pvt. f i n a n c i a l institutions " .7 .8 . 0 . 1 .8 .1 7 8 9 10 11 12 212. 3 223., 7 236..1 258. 5 283. 2 314. 2 343.,7 372.. 4 393..7 24 492..9 234. 5 125. 9 50. 3 79. 8 2. 3 512. 8 239.. 1 134. 3 52., 1 84. 5 2. 9 539. 246. 3 144. 3 54. 9 90 .8 3. 0 571 .2 258.2 153. 6 58. 3 97. 2 3 4 606. 2 272. 9 162. 6 63. 2 104. 0 3. 5 664 .5 302., 4 171 .2 72. 3 114. 0 4. 2 716. 7 317. 2 177. 2 80 . 130. 0 11 .4 762..5 331 .3 184..3 83..6 144..7 13., 1 821..6 348.,4 198. 3 98. 161. 2 14. 8 25 26 27 28 29 30 1369. 9 678. 9 181 .1 236. 2 292. 5 1 1 2 . 1474. 2 723. 7 192. a 223. 6 316. 6 12. 6 1564. 0 771 . 1 203. 5 237. 2 338. 9 13. 3 1 903. 1 933. 3 225. 8 293. 4 421 . 0 24. 7 2039. 5 935. 3 236., 1 322. 8 467. 4 28. 0 2249. 8 1 077 .9 255. 4 362. 1 522. 4 32. 0 31 32 33 34 35 36 Memo: 31 Total - e a l e s t a t e (4) H o u s e h o l d sector 32 33 r a n bus;ness 34 N o n f a r m -on cor p. b u s i n e s s 35 Nc nfarit nonf in. corp. bus . 36 Pvt. f i n a n c i a l i n s t i t u t i o n s 1227. 2 616. 4 160. 1 182. 9 258. 8 9. 0 (1) At Current cost. (2) At y e a r - e n d a r i s e s . (3) Except fo- r a r m sector, estimate based on d i f f e r e n c e b e t w e e n m a r < e t value of ~ a al estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) Sum o* land, n o n r e s i d e n t i a l plant, and r e s i d e n t i a l s t r u c t u r e s . Data are in b i l l i o n s of dollars 1293. 3 647. 2 169. 7 194. 0 272. 2 1 0 .3 1 736 .6 362. 4 216. 0 268. 0 374. 6 15. 7 June 8, 1995 Tangible Asset H o l d i n g s Tangible B. 12 D i s t r i b u t i o n y Year-End O u t s t a n d i n g s 1972 Asset H o l d i n g s of T a n g i b l e A s s e t s by Sector Year-End 1973 1974 1975 1976 5003 . 7 2146 .8 5 0 5 .5 6 5 2 .7 1621 .5 77. 3 5 5 4 3 .9 2391 . 1 5 6 4 .3 706 .2 1792.0 90..2 6166 2683 643 771 1965 102 1977 1978 1979 8064 . 4 36 01 .3 841 . 0 1006 .5 2435 .2 130,.5 9368.. 0 4173,. 7 971 , .8 1199..4 2363., 7 154.,4 10652.6 4703.0 1073.7 1411.1 3278.4 186.4 Outstandings 1980 1 2 3 4 5 6 3754.7 1667.7 370.6 496.9 1168.5 51.1 4321 1887 455 574 1342 61 7 8 9 10 11 12 1076.4 90.9 64.2 134.6 752. 7 34.0 1223 . 1 102.5 72 . 4 154,. 0 8 5 2 .6 41 . 7 1459,.5 116 .2 87..6 179,.5 1 023..5 52.,8 16 38.. 0 125.. 7 97.. 1 196.. 1 1157,.8 .4 61 , 1784.5 134 .3 107 .4 209 .3 1262 .8 70 .6 1981 .4 147..2 120 .6 232 .5 1403,.7 77,.4 2250..3 167 . , 1 136..6 267, 3 1589..5 90. 3 2535. 6 190. 9 156. 9 310. 5 1818., 7 108. 6 2974.2 215.6 174.5 359.7 2094.2 130.2 Plant and ®qu ipment (1) 7 H o u s e h o l d s e c t o r - - n o n p r o f its 3 Farm b u s i n e s s 9 N o n f a r m noncorp . business 10 N o n f a r m nonfin . corp. bus. 11 Financial institutions 12 13 14 15 16 17 18 19 1034.0 745. 7 17.5 28.3 224. 3 18.0 0.2 1185..2 856.. 9 20.. 1 30 .8 . 257..8 19 .3 0. 3 1334,.8 968., 9 22..3 34, 2 288.. 4 20. 5 0. 4 1463.. 4 , 1 066 .9 24. 6 36.,8 313,. 1 21.. 4 0. 5 1630..9 1197..2 27..1 39.,7 343.. 7 22. 6 0, 6 1891 ..2 1393,. 4 31 . 0 44..5 392., 3 24.. 6 0.,5 2211. 2 1644. 3 35.. 7 50.. 0 453.8 26 .9 0. 5 2547. 1 1872. 8 41 .2 55. 0 547 .8 29. 7 0. 5 2840.0 2062.1 46.5 60.3 638.4 32.2 0.4 R e s i d e n t i a l s t r u c t u r e s (1) Households--ownbr-occupant 3 Household sector--nonprofits Farm b u s i n e s s N o n f a r m n o n c o r p . business N o n f a r m n o n f i n . corp. ous. Pvt. f i n a n c i a l institutions 13 14 15 16 17 18 19 20 21 22 23 296.6 55.3 24. 0 217.3 365., 1 78., 0 27. 3 259 .8 435. 2 74. 3 29 .6 331 .3 460 ., 0 75. 5 27 .3 337. 2 475. 3 72. 2 27.. 9 375. 2 521 .,6 75. 2 29 .5 416 .9 605. 3 92.. 1 32. 6 480 .6 702. 6 97. 9 35. 5 569. 2 784.2 104. 9 35.3 644. 0 I n v e n t o r i e s (2) farm b u s i n e s s N o n f a r m n o n c o r p . business Nonf a n o n f i n . corp. bus. 20 21 22 23 . 2 .8 .5 . 0 . 0 .9 .8 .8 . 0 .9 .6 .6 6971 3088 714 869 2186 112 .3 .3 . 4 .0 .8 .8 Total h o l d i n g s of t a n g i b l e s H o u s e h o l d sector Farm b u s i n e s s N o n * a-m n o n c o r p . b u s i n e s s N o n f a r m n o n f i n . corp. bus. Financial institutions 1 2 3 4 5 6 24 424. 7 470 .5 544. 2 595. 7 652. 8 725. 5 815. 2 924. 4 1014.3 Consumer households 24 25 26 27 29 29 30 922.9 338. 9 222. 7 114.0 130.4 16.9 1 077.3 437. 9 274. 3 135. 0 210. 3 19. 9 1230. 1 495. 2 309. 4 155. 3 246 .2 24. 1 1406. 7 573. 2 354. 9 169. 7 275. 5 28. 3 1 623.4 672. 4 423. 7 190. 9 305. 0 31 .4 1851 .6 736 .2 474. 2 214. 8 341 .6 34. 8 2182. 0 9 39. 1 562. 3 252. 7 388. 2 39 .7 2608 .3 1149. 3 662. 0 305. 6 446. 0 45. 4 3039.9 1364.4 734. 0 377. 7 508. 3 55.3 Land at m a r V e t value (3) h o u s e h o l d sector Farm b u s i n e s s N o n ^ a r m n o n c o r p . business N o n f a r m n e n f I n . corp. bus. Pvt. financial institutions 25 26 27 28 29 30 31 52 23 34 35 36 2574.4 1236.1 285.0 423.3 593.1 36.8 2972.0 1409.9 343.6 491.5 684.6 42.6 3387.7 1593.7 387.4 556.7 800.0 50.1 3775.9 1785.6 440.0 605.5 888.1 56.7 4231.9 2020.6 515. 9 6o4.6 Y&9.2 61.6 4322.0 2351.6 577.6 "Sl.O 10 7 4.7 67.2 5617.7 2772.4 f 7? . 6 ? 71. C »2id.7 76.0 6561.1 3237.5 794.1 1041.0 1400.7 87.8 7492.4 3667.9 880.4 1234.3 1604.6 105.3 Total real estate (4) H o u s e h o l d sector Farm business N o r. f a r m noncorp. business N o n f a r m nonfin. corp. bus. Pvt. financial institutions 31 32 33 34 35 36 durables (1) At current cost. (2) At year-end prices. (3) Except for farm s e c t o r , estimate based on difference between market value of real estate and c u r r e n t - c o s t value cf s t r u c t u r e s . (4) Sum of land, n o n r e s i d e n t i a l p l a n t , and residential s t r u c t u r e s . Data are in o ill ions of d o l l a r s . June 8, 1995 T a n g i b l e Asset H o l d i n g s Tangible Asset Holdings B. 12 D i s t r i b u t i o n 18 Year-End Outstandings Year-End O u t s t a n d i n g s 1981 1982 11665 5096 1088 1587 3674 218 3 5 8 9 2 0 7 Plant and equipment (1) H o u s e h o l d sector — n o n p r o f i t s 8 9 Farm b u s i n e s s Non farm n o n c o r o . b u s i n e s s 10 N o n f a r m nonfin. corp. bus. 11 Financial institutions 12 3363 237 186 415 2369 153 3 8 9 3 4 9 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 Household sector--nonprofits 15 Farm b u s i n e s s 16 N o n f a r m noncorp. b u s i n e s s 17 Nonf arm nonfin. corp. bus. 18 Pvt. f i n a n c i a l i n s t i t u t i o n s 19 1 Total holdings of t a n g i b l e s H o u s e n o l d sector 2 Farm b u s i n e s s 3 4 N o n f a r m noncorp . b u s i n e s s Won farm non fin. corp. ous. 5 Financial institutions 6 20 21 22 23 of T a n g i b l e A s s e t s by Sector I n v e n t o r i e s (2) Farm business Non-arm nonccrp. business Non farm nonfin. corp. bus. 24 C o n s u m e r durables (households) 25 Land at m a r k e t value (3) H o u s e n o l d sector 26 Farm c o s i n e s s 27 N o n f a r m noncorp. b u s i n e s s 28 N o n f a r m non*in. corp. bus. 29 30 12228 5358 1060 1703 386 0 246 1 5 2 3 1 0 1983 1984 1985 1986 1987 1988 1989 12794..6 5672..8 1057..4 1812 .3 3979,-4 272 .7 13614,, 0 6160.. 0 962..7 1973. 6 4215,,4 302..2 14392 . 0 6 6 0 3 .2 8 7 8 .9 2170,.5 4399,. 0 340,. 4 15189,. 7 7100,. 4 825,.3 2329,. 0 4545,, 7 389. 3 16175,. 4 7656 . 1 853,.8 2472 . 0 4750 .8 442,.3 17125. 2 8102.,8 864., 7 2605,. 7 5056,.7 495. 2 18263 . 7 8708 .6 887 .2 2776,.5 5334,. 4 557 -2 1 2 3589 0 256.0 188 4 444 9 2525 9 173 3 37 07,.1 273..4 187..3 459..6 2594..8 192.. 1 3899.. 4 290..9 184.. 0 490. 2 2716.,6 217..7 4112,.7 308,. 1 178,.5 528..3 2852. 2 245,.5 4322. 2 327..8 174. 2 565. 5 2972.. 7 282., 1 4515,.9 349,.9 170..7 600..8 3077 .5 317., 0 4810. 3 376. 9 167. 9 649. 2 3256. 9 359. 3 5084,.2 403,.6 169.. 1 692, 2 3414..5 404,.8 10 11 12 3049,.6 2193, 3 50.- 0 63,, 4 708.7 33 .8 0,.4 3148. 3 2265,.7 51..6 64 3 731.-8 34..5 0.. 4 3279.. 9 2368.. 3 53, 3 64,.5 758.. 1 35..3 0.,4 3448..6 2496 ..8 55.5 65., 0 794. 6 36 .3 0.5 3639.. 1 2634.. 1 58.,4 65..5 842..6 37.. 9 0..6 3902,, 1 2840. 6 , 9 61 . 66 . .8 892., 3 39. 6 0. 8 4213,. 2 3081 , .8 66.,3 69..3 953.. 0 41 .8 1 ,. 0 4298., 0 3156. 5 66., 9 68.. 1 963. 5 41 . , 7 1. 2 4566.. 1 3370,.3 70..2 70,.2 1010,. 7 43,. 4 1 ., 4 13 14 15 16 17 13 19 836.. 1 , 4 101 . 34,.8 699 . 9 817,. 1 103..6 34.. 1 679..4 827 .6 103..2 34., 4 690 . 0 898. 8 100..9 37., 4 76 0..5 904. 3 96 . .6 39.. 6 768,. 1 887.,3 90. 5 38. 758., 9 950 .6 90., 9 . 0 42 , 817.. 7 1023,.8 95. 45. 3 883.. 1 1081 96 49 936 20 21 22 23 , .6 .3 , 3 . 0 , 1 086 .2 . 1133..7 1193..8 1281 ..5 1391 .. 1 1527. 5 1659 , .5 1808., 4 1929..6 24 3320., 1 1529 ,2 737.. 1 429.. 1 571 ..2 63..6 3540.. 0 1651 . .5 7 03.. 9 492..5 .4 620 , 71 .7 . 3786..2 1784,. 0 702., 4 56 3. 2 659.. 4 80. 2 4085. 7 2035. 4 612. 9 651 .5 701 .9 84., 0 4344,,8 221 1 .5 , 538, 3 759 . 740.,8 94. 3 4550., 0 2342., 7 493. 8 932. 7 774. 5 4 106. 4836. 2 2498., 6 522.. 9 876 .3 813.. 7 124., 7 5184. 7 2694. 1 533. 2 947. a 875., 0 134. 7 5602. 2 2934,. 9 551 , .5 1 324.. 4 94Q , 4 151 , . 0 25 26 27 28 29 30 3231 , . 3 3985 .8 893 .3 1390,.5 1809 , .8 . 9 121 , 8637 . 7 4197 863,. 7 1495,. 3 1942..3 139. 3 9083.. 0 4648 . 4 864.. 1 1595..6 2019 . 4 155..5 9665. 2 4845., 1 77 7., 1 1 740 .5 2133. 5 169., 0 10241.. 7 5175.. 1 705. 3 1920.,8 2248. 5 191 .9 13302. 5 5531 . 3 663., 4 2062., 7 2327 ., 0 218.. 1 11508.. 7 5949 , . 4 695,. 6 2188,. 9 2424 . 3 250. 5 12115. 2 6240..6 7 06 ,. 0 2300. 5 2593.,5 274. 5 12949,,8 6717.. 7 726 . .5 2450., 0 2747 ., 9 307..8 31 32 33 34 35 36 Memo : 31 Total real estate 14) H o u s e h o l d sector 32 Farm b u s i n e s s 33 Non farm n o n c o r p . b u s i n e s s 34 Nor farm nonfin. corp. bus. 35 °vt. f i n a n c i a l i n s t i t u t i o n s 36 (1) At current cost. (2) At ye 3r- end s l i c e s . (5) E x c e p t for farm s e c t o r , estimate based on d i f f e r e n c e b e t w e e n larket value of -ea 1 estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) Sum of land, n o n r e s i d e n t i a l p l a n t , and r e s i d e n t i a l s t r u c t u r e s . Data are in b i l l i o n s of dollars June 8, 1995 Tangible Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s B.12 Distribution of T a n g i b l e A s s e t s by Sector 1 9 Year-End Outstandings Year-End O u t s t a n d i n g s 1990 1991 1992 1993 1996 1 2 3 4 5 6 18300..8 8774,. 7 902,.9 271 7 . 4 5325..9 . 9 579 , 18436 .2 9286 . 0 894,. 4 2620,.3 5042,.6 592,. 9 18429..9 9557.. 1 907 . 0 2527..5 4813..9 619.. 4 19031..7 9982,.9 933..4 2503,.4 4964,.6 647 , .5 19993,. 0 10544,. 1 951..6 2595.. 1 5229 .7 672.. 6 7 8 9 10 11 12 5320.. 7 427,, 1 169..3 718. 3 3563..3 442. 2 5419,.9 443.. 0 166,.6 724,. 1 3624 3 462,. 0 5549..5 464.. 3 163..8 726.. 0 3704. 3 491 ., 1 5769..6 4 9 2 .5 164,.7 744,.8 3839..5 528.. 1 6060,.3 523.. 0 167..9 781 ..3 4022..5 569., 1 Plant and e q u i p m e n t (1) Household sector--nonprofits Farm business N o n f a r m n o n c o r p . business N o n f a r m nonf in. corp. bus. Financial institutions 13 14 15 16 17 18 19 4795,.8 356 0., 1 72. 9 72., 4 1044., 4 ,4 1 .6 4964,.9 37 03.. 9 72.. 7 73..9 1 067..6 45.. 0 1.,9 5201 ..7 39 01 , .9 73. 3 75. 3 1103.. 1 45. 2. 4 5521 , .3 4 1 6 3 .8 74., 7 77,.9 1155..3 46..3 3..2 5856..4 4441 ..3 76 . .2 80.. 1 1 206..8 47 .5 4., 1 R e s i d e n t i a l s t r u c t u r e s (1) H o u s e h o l d s — owner- occupants H o u s e h o l d s e c t o r - - n o n p r o f its Farm b u s i n e s s Nonfarm noncorp. business N o n f a r m nonfin. corp. bus. Pvt. financial institutions 20 21 22 23 1110., 4 94., 7 53. 8 964, 9 1091 ., 4 90. 5 50 . , 0 950., 9 1104. 9 95. 8 50 .5 958.,6 1118.. 4 97..6 32., 0 988.,3 .9 1220 . 98., 4 56 . 1 066.,4 I n v e n t o r i e s (2) Farm b u s i n e s s N o n f a r m noncorp. business N o n f a r m n c n f i n . corp. bus. Total h o l d i n g s of tangibles H o u s e h o l d sector Farm business Nonfarm noncorp. business N o n f a r m n o n f l n . corp. bus. Financial institutions 24 2047.. 1 2138.,9 2222. 2 2336. 3 2490. 8 Consumer 25 26 27 28 29 30 5026. 8 2667. 6 566. 5 903. 9 752. 7 136. 1 4821 ., 1 2927 .6 563. 5 778., 6 422. 4 129., 1 4351 .7 2895. 5 572. 1 647 .9 110 .3 125. 9 4286. 2 2915. 6 593. 2 571 .3 90 . , 0 116.. 1 4364. 2 3015. 3 6 05. 3 550. 9 93. 3 99.,4 Land at m a r k e t value (3) H o u s e h o l d sector Farm b u s i n e s s N o n f a r m n o n c o r p . business N o n f a r m n o n f l n . corp. bus. Pvt. f i n a n c i a l institutions 31 32 33 34 35 36 12722. 2 6659 .3 743. 0 2381 .3 2629 .2 309. 3 127 38. 4 7074. 6 739., 0 2231 ., 0 2328.. 1 315. 7 12572. 9 7258. 0 747 .3 2138. 4 2050 .8 328. 3 12940,, 7 7565.. 6 771 .6 217 2.. 0 2093.. 4 338. 2 durables (households) Memo: 13389. 4 7968. 4 787.. 0 2215. 7 2077. 2 341 . 0 Total real estate '4) H o u s e h o l d sector Farm business Non f a m ncnco-p. business N o n f a r m n o n < i n . corp. bus. Pvt. financial institutions (1) At current cost. (2) At year-end or ices. (3) Except for farm sector, estimate based on difference between m a r o t value of -eal estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) Sum of land, n o n r e s i d e n t i a l plant, and r e s i d e n t i a l s t r u c t u r e s . Data are in billions of d o l l a r s . June 8, 1995 H o u s e h o l d Sector Household Sector 2 0 B . 1 0 0 B a l a n c e Sheet of the H o u s e h o l d Sector (1) Year-End Outstandings Year-End O u t s t a n d i n g s 1945 1946 1947 1948 1949 1950 1951 1952 1953 1090 .5 1 Total assets 731 .2 793 .7 8 7 8 .2 927 .7 972.3 1195.4 1262.3 1312 .4 1 2 Tangible 192 .3 220 .1 26 0 .7 294 .7 323.5 373 . 1 419.1 455.2 486 .3 2 126 .2 73 .5 70 .2 3 .3 6 .4 46 .2 150 .3 8 8 .9 85 . 1 3 .8 8 .2 53 .2 184 . 0 108 .8 104 .5 4 .3 10 . 0 65 . 1 211 .2 124 . 1 119 .6 4 .5 10 .9 76 .3 232.4 134.6 130.0 4.6 11.3 86.6 276 . 0 154 .9 150 . 0 4 .8 13 . 0 108 .2 313.0 173.8 168.8 5.0 14.8 124.4 337.2 187.4 182.3 5.1 15.8 134.0 358 .8 199 .3 194 .2 5. 1 16 .5 143 . 0 3 4 5 6 7 8 69 .8 64 .5 5 .2 76 .7 70 .9 5 .8 83 .4 77 .4 6. 0 97 . 1 89 .7 7 .4 106.1 98.0 8.0 118.0 109.3 8.7 127 .5 118 .4 9 .1 538 .9 573 .6 617 .4 633 .1 6 48.8 717 .4 776.3 807 .2 826 .1 12 1 04.2 53 .9 49.8 0. 4 115 .4 58.8 56 . 1 0. 4 118 .7 58 .7 59 .6 0..5 118 .5 56 .2 61 .8 0 .5 119.3 54.3 64.4 0.6 124 .2 56 .8 6 6 .8 0,.5 133,1 60.9 71.6 0.7 142.6 63. 0 78.9 0.7 151 .9 64 .1 87 . 0 0 .8 13 14 15 16 17 90..8 66 . 4 66 , .5 42 . 9 23 .6 . 1 90 . 0 64 .9 65.. 1 44. 2 21 . 0 -• 2 91 . 1 64,.8 65 . 1 46..2 18..8 - •.3 93 .4 65 .6 65 .8 47 .8 18.. 0 "•.2 94.3 67. 0 67.3 49.3 18.0 -.2 95.. 7 66 . 1 66 .5 . 49 . .6 16.. 9 - •. 4 96.6 65.2 65.4 49.1 16.3 -.2 104.6 67.4 67.4 49.2 18.2 109 .6 68 .2 68 . 0 49 .4 18 .7 0..2 18 19 20 21 22 23 3 .9 8,. 4 12.. 2 0,. 1 3,.8 7 .5 , 13. 0. 2 4..5 6. 6 15.. 0 0..2 4.. 6 6. 7 16 . 2 0. 3 3.7 6.3 16.9 0.4 5..5 ,0 6. 17 .5 , 0. 5 5.7 6.3 18.4 0.9 11.0 6.0 19.1 1.2 13.. 9 6. ,0 20,. 1 1..5 24 25 26 27 1 .4 . 98.8 1 .5 97. 5 3.1 105.0 3. 3 128.. 7 3.5 151 . 1 3.9 152.5 4.. 1 146. 2 28 29 46 .5 15. 8 49 .. 4 18. 2 57.8 27.8 60.7 33.4 63. 6 38. 4 30 31 32 298.7 0.7 10.0 300 .9 0. 7 10. 6 33 34 35 3 4 5 6 7 8 assets R e p r o d u c i b l e assets R e s i d e n t i a l structures O w n e r - o c c u p i e d lousing Nonprofit institutions N o n p r o f i t plant 3 equip. Consumer durable goods 9 10 11 Land O w n e r - o c c u p i e d (25(3) N o n p r o f i t institutions 12 Total financial (3) assets 13 14 15 16 17 D e o o s its C h e c k a b l e deposits 8 curr. Small time 5 savings dep. Large time deoosits M o n e y market fund shares IS 19 20 21 22 23 C r e d i t market instruments U.S. govt, securities S a v i n g s bonds Other Treasury Agency 24 25 26 27 Tax-exempt securities C o r p o r a t e and fgn. bonds Mortgages Open m a r k e t paper 28 29 M u t u a l fund shares C o r p o r a t e equities 30 31 32 Life i n s u r a n c e "eserves Pension *und reserves Inv. in bank personal trusts 33 34 35 E q u i t y in none orp. bus. S e c u r i t y credit M i s c e l l a n e o u s assets 36 Total 37 38 39 66 . 1 62 .4 3 .8 1. 3 109..5 (4) liabilities C r e d i t market instruments Home mortgages Consumer c r e d i t 39. 6 12. 3 1 .3 101. 3 43., 4 13. 5 91 . 0 84.7 6.4 52.1 21 . 1 55., 0 24. 3 - 174. 4 0.. 7 6. 3 201 .. 0 0 .7 7. 1 236.. 9 0. 7 7. 6 246 .0 0. 7 8. 0 244.9 0.7 8.4 276. 5 1 .. 0 8. 7 296.3 0.9 9.3 9 10 11 30. 0 36. 3 44. 9 53. 2 61.4 73, 9 82.6 94.5 107. 2 36 27, 6 18. 0 6. 8 34. 4 21 .9 9. 7 42. 8 26, 6 13. 2 50 .9 31 .2 16. 3 58. 7 35.3 19.4 70. 5 41 .7 23. 9 79. 1 48. 0 25.4 90.8 54.2 30.5 102.,9 ,4 61 . 34. 6 37 38 39 40 41 T a x - e x e m p t debt Commercial mortgages . „ 0. 5 0 .7 0 .8 1 .2 1.6 2. 0 2.5 3.0 3. 4 41 42 43 Bant loans n.e.c. Other loans 0. 2 2. 1 0. 1 2. 0 0 .1 2. 1 0. 1 2. 2 0 . 1 2.4 0. 2 2. 6 0.4 2.8 0.2 2.9 0. 3 3. 1 42 43 1. 2 0. 5 0. 6 0. 7 0. 6 0 .8 0. 6 0. 9 0.9 0 . 9 1 .5 1. 0 1.4 1 . 0 1.5 1. 1 1 .8 1. 44 45 0 .6 0. 7 0. 8 0. 8 0.9 1. 0 1 . 1 1.2 1 .3 46 701 .3 757. 3 833. 2 874. 5 910.8 1016.5 1112.8 1167.8 1205. 2 47 48 44 45 S e c u r i t y credit Trade credit D e f e r r e d and unpaid life insurance premiums 46 47 Net worth Memo: 48 D i s p o s a b l e p e r s o n a l Income 49 50 Home m o r t g a g e s as oer cent o w n e r - o c c . real estate 51 N o n p r o f i t real estate of (6) 158. 9 168. 8 188. 2 187.9 207 .5 227.6 240.2 255. 5 132. 5 149. 6 175. 5 197. I 214.7 239. 7 266.8 291.6 312. 6 49 13.5% 14.6% 15.1% 15.8% 16.4% 17.4% 17.9% 18.5% 19.6% 50 13. 2 16. 8 19. 5 20. 6 21 .4 24. 1 26.6 28.2 29. 0 51 (1) H o u s e h o l d s and nonprofit o r g a n i z a t i o n s . (2) Includes vacant land. (3) E s t i m a t e based on d i f f e r e n c e between m a r k e t value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) N o n c o r p o r a t e farms, nonfarm n o n c o r p o r a t e b u s i n e s s , and un incorporated security brokers and d e a l e r s . (5) Lines 5 • 10. (6) Lines 6 * 1 1 * n o n r e s i d e n t i a l plant from line 7. Data are in b i l l i o n s of dollars J u n e 8, 1 9 1 5 Household Sector Household B .100 Ye«r-End Balance Sheet of the H o u s e h o l d Sector (1) Sector 91 Outstandings Year-End 1954 1955 1956 1957 1958 1959 I960 1961 1962 Outstandings 1 1430.2 1560 .0 1667.8 1 7 0 0 .9 1876,6 1 9 7 8 .0 2 0 4 0 .3 2222.5 2237.4 2 514.4 5 5 7 .9 603.2 6 3 4 .3 664.1 6 9 9 .1 730 .0 761.2 794.5 3 4 5 6 7 6 379.6 214.9 209.7 5.2 17.6 147.1 4 1 3 .4 236 .5 231 . 1 5 .4 19 .6 157.3 447.9 253.9 248.4 5.5 22.1 171.9 466 267 261 5 23 176 .9 .1 5 .6 .7 .2 486.2 279.2 273.4 5.8 25.9 182.0 5 1 2 .2 296 .6 290 .5 6 .0 26 .6 189 .0 533 . 7 311 .9 3 0 5 .6 6 .2 28 .1 193 .7 552.6 325.4 318.8 6.6 30.4 196.8 574.7 339.4 332.3 7.1 33.0 202.3 Reproducible assets Residential structures Owner-occupied housing HonorofIt institutions Nonprofit Plant 2 equip. Consumer durable goods 9 10 11 134.9 125.7 9.2 1 4 4 .5 133 .8 10 .7 155.3 143.5 11.8 167 .4 1 5 4 .8 12 .6 178.0 165.4 12.6 187 .0 1 7 3 .8 13 .1 196 .3 1 8 2 .6 13 .8 208.7 193.7 15.0 219.7 203.7 16.0 Land Owner-occupied (2)(3) Nonprofit institutions 1 3 1 0 .3 Totel assets Tangible 1 assets 2 3 4 5 6 7 8 (3) 9 10 11 12 915.8 1C02,. 1 1064.6 1 0 6 6 .5 1212.5 1 2 7 8 .8 1461.2 1442.9 IS 14 15 16 162.8 65.9 96.1 0.8 172 3 66 .9 104,.7 0,.8 183.3 68.6 114.1 0.7 1 9 4 .2 6 7 .7 125 .9 0,.6 210.2 69.9 139.4 0.8 2 2 3 .6 72 .1 150,.3 0..6 237 73 162 1 .3 .9 .0 .4 254.1 72.6 179.5 2.1 279.6 72.2 204.7 2.8 - Deposits Checkable deposits 8 curr. Small time S savings dep. Large 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 13 14 15 16 17 18 19 23 21 22 25 109.5 66.2 66. 1 50.3 16.1 0.1 117. 5 69 4 68 8 50..2 18..6 0. 6 124.8 71.2 70.2 50.1 20.1 1 . 0 131,.8 73 . 0 71,.5 48. 2 23, 3 1.5 132.6 69.5 68.6 47.7 20.9 0.8 142,.9 73..9 71..6 45,.9 25 . 7 2,.3 151,.1 73..2 7 2 .2 45,.6 26, 6 1,.0 155.1 72.5 71.9 46.4 25.5 0.6 158.3 76.0 73. 7 47.0 26.8 0.2 Credit market instruments U.S. govt. securities Treasury Savings bonds Other Treasury Agency 18 19 20 21 22 23 24 25 26 27 16.0 4.9 21.2 1.2 21.9 6.1 26.1 1.6 23 .9 7. 2 26..0 1 .8 24.6 7.9 28.6 2. 0 28, 4 8. 2 30. 7 1. 8 .0 31 . 10, 6 33, 4 2..8 32.5 10.8 36.7 2.5 32.1 10.2 38.8 3.3 28 29 6.1 213.0 7. 8 260. 7 9.0 279.6 8. 7 245. 6 13.2 345.0 15. 8 369. 8 17..0 366. 4 22.9 665.3 20.9 602.6 M u t u a l fund s h a r e s Corporate equities 28 29 30 31 32 66.3 43.8 69. 3 51. 8 72.7 58. 1 75. 5 64. 4 78.5 74.8 32. 0 84. 8 85. 2 93. 6 38.6 106.9 92.6 113.6 - Life insurance reserves P e n s i o n fund r e s e r v e s I n v . in b a n k p e r s o n a l t r u s t s 30 31 32 33 34 35 302.3 1 . 0 10.9 313. 3 0. 9 11. 4 E q u i t y in n o n c o r p . b u s . S e c u r i t y credit Miscellaneous assets 33 34 35 36 119.0 139. 7 37 38 39 113.8 70.1 36. 0 133. 8 82. 1 42. 9 " 19. 2 5.. 0 22 5 1. 5 324.3 0.9 11.7 333. 3 0. 9 12. 0 364.7 1.2 12.3 366. 2 1 .0 12. 8 155.3 167. 8 179.5 149.0 92.8 46.6 161 .6 131. 3 49. 2 172. 1 110.5 49.5 367. 3 1 .1 13. 3 353.3 1.2 13.8 360.4 1.2 14.3 202. 1 219. 9 237.6 259.2 194. 0 123. 1 57. 2 211 . 7 133. 9 61 .2 223.0 145.6 63.4 269.5 159.0 69.3 60 41 3.9 3. 5 4.6 5. 3 6.3 7. 1 8. 4 9.3 10.3 42 43 0.4 3.4 1. 7 3. 6 1.0 3.9 1. 4 4. 4 1 . 0 4.8 1. 2 5. 4 1. 9 6. 3 2.6 7.0 3.1 7.7 45 2.6 1.3 3. 0 1. 4 3. 1 1.5 2. 7 1 .7 3.7 1.8 3. 7 2. 2 3. 6 2. 3 4.6 2.5 4.5 2.6 46 1.3 l *5 1.7 1. 8 2.0 2. 2 2. 4 2.5 2.7 47 1311.2 1420. 2 1512.5 1533. 0 1697.1 1775. 9 1820. 4 1986.9 1978.1 Total financial assets 12 Tax-exempt securities C o r p o r a t e and f g n . b o n d s Mortgages Open market paper Total (4) liabilities 36 Credit market instruments Home mortgages Consumer credit - Tax-exempt Commercial debt mortgages Bank loans n.e.c. Other loans 37 38 39 60 61 62 43 Security credit Trade credit D e f e r r e d and u n p a i d life insurance premiums Net 24 25 26 27 worth 44 45 46 47 Memo: 48 261.3 279. 9 298.8 315. 3 326.4 346. 7 360. 6 376.3 398.7 49 335.4 364. 3 391 .9 416. 3 638.8 464. 4 688. 2 512.5 535.9 50 20.9% 22.5% 23.6% 24.3% 25.1% 26.5% 27.6% 28.6% 51 30.1 33. 7 37.1 39. 3 40.6 42. 7 65. 0 68.6 income 68 O w n e ^ - o c c . r e a l e s t a t e (5) H o m e m o r t g a g e s as p e r c e n t of 29.6% owner-occ. real estate 69 52.7 Disposable Nonprofit personal real estate (6) (1) H o u s e h o l d s and n o n p r o f i t o r g a n i z a t i o n s . (2) I n c l u d e s v a c a n t l a n d . (5) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e and c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) N o n c o r p o r a t e f a r m s , n o n f a r m n o n c o r p o r a t e b u s i n e s s , and u n i n c o r p o r a t e d s e c u r i t y b r o k e r s and d e a l e r s . (5) L i n e s 5 • 10. (6) L i n e s 6 + 1 1 + nonresidential plant f r o m l i n e 7. Data are in b i l l i o n s of dollars. 50 51 J u n e 9, 1 9 9 5 Household Sector Household B.100 Year-End of the Household Sector Year-End 1964 1965 1966 1967 1968 2 4 0 8 .7 2 6 0 0 .1 2 8 0 6 .4 2 8 9 3 .9 3 2 0 6 .6 8 3 3 .9 8 7 4 .9 9 1 9 .2 9 9 1 .8 1 0 5 9 .4 Reproducible assets Residential structures Owner-occupled housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durable goods 598 349 342 7 35 212 635 373 365 8 38 223 672 394 385 9 42 236 733 427 417 10 47 258 Land Owner-occupied ?2)(3) Nonprofit institutions 2 3 4 .5 2 1 6 .8 17 .7 assets 12 T o t a l assets financial C3) assets .5 .9 .4 .5 .8 .8 1 5 7 5 .7 .9 .4 .1 .3 .8 .7 239 . 1 2 1 9 .6 19 .5 1 7 2 5 .2 13 14 15 16 17 Deposits Checkable deposits & curr. Small time & savings dep. Large time deposits M o n e y m a r k e t fund s h a r e s 3 1 0 .2 76 .9 2 2 9 .7 3,. 7 342 83 254 4 18 19 20 21 22 23 Credit market instruments U.S. govt, securities Treasury Savings bends Other Treasury Agency 160..0 7 2 .9 73,.3 48..1 2 4 .8 .1 1 6 6 .3 7 3 .8 7 3 .6 49 . 1 2 4 .5 3..2 3 2 ..1 10.,1 40. 3 4. 6 34..9 10. 3 41 ., 7 5..6 Tax-exempt securities C o r p o r a t e and f g n . b o n d s Mortgages Open market paper 24 25 26 27 .5 .3 .5 .7 .9 .0 .0 . 0 .8 .1 .7 .7 .7 .0 .5 .5 786 452 441 10 50 283 .5 .4 .8 .7 .9 .2 Sector Cl) 1963 1 Total 9 10 11 Sheet Outstandings 2 Tangible 3 4 5 6 7 8 Balance Outstandings 1969 1970 1971 3 5 9 0 .6 3650.5 3 8 2 0 .5 4208.5 1 1 1 8 2 .0 1282.8 1 3 6 3 .9 1478.1 2 1032 588 574 13 71 372 .0 .1 .4 .7 .5 .4 1129.8 655.3 640.4 14.9 80.8 393.7 3 4 5 6 7 8 9 10 11 879 508 496 12 57 314 .7 .3 .2 .0 .2 .2 965.5 557.4 544.3 13.2 64.4 343.7 2 4 6 .3 2 2 4 .6 21 .8 2 5 8 .2 2 3 4 .2 2 4 .0 2 7 2 .9 2 4 6 .4 26 .5 3 0 2 .4 272.5 2 9 .9 317.2 282.4 34.8 3 3 1 .8 2 9 3 .0 3 8 .8 348.4 305.3 43.1 1 8 8 7 .2 1 9 0 2 .1 2 1 4 7 .2 2 4 0 8 .6 2367.7 2 4 5 6 .6 2730.4 12 4 8 3 .4 1 1 2 .6 358 5 12,.3 488.1 109.8 373.9 4.4 5 3 6 .9 1 1 7 .5 4 0 1 .8 17,.7 614.5 131.2 466.0 17.3 13 14 15 16 17 217.1 95.4 88.2 51.8 36.4 7.2 2 1 6 .3 8 9 .0 77 5 5 2 .1 2 5 .4 11..5 204.0 79.8 69.2 54.4 14.8 10.6 18 19 20 21 22 23 376 89 280 6 .7 .9 .8 .0 398 92 298 6 .1 .6 . 7 .9 4 4 3 .5 1 0 3 .1 332 3 8..1 170 75 74 49 25 1 .4 .9 .8 .7 .1 ., 1 191 84 79 50 28 5 .0 .9 .1 .2 .8 .9 1 9 6 .5 85,.2 7 8 .9 51 2 27,.7 6. 3 2 0 7 ,. 0 8 7 .8 8 1 ..6 51 9 29 8 6..1 41 , .2 11,.9 4 4 .2 8 .8 38. 2 16. 3 4 6 ..3 10. 8 36. 5 2 1 .,4 48. 4 13. 0 36.4 21.3 48.4 15.5 3 5 .4 29..5 49 2 13. 2 31.9 36.5 46.4 9.5 24 25 26 27 - 36..5 9. 2 42 2 6..6 28 29 M u t u a l fund shares Corporate equities 24.8 472. 7 28..4 5 4 4 ,.1 34,. 4 6 1 6 .. 1 3 3 .9 548, 3 4 3 .. 0 6 8 2 ,. 1 49. 5 815. 3 41.5 587.4 40. 4 572, 5 48.1 650.9 28 29 30 31 32 Life Insurance reserves Pension -und reserves I n v . in b a n k p e r s o n a l t r u s t s 96. 6 127. 5 1 0 1 ..1 144, 3 105. 9 161. 3 110. 6 171 ,.8 115. 5 194. 9 120.3 217. 8 125.4 230.0 129.8 130. 7 252. 7 131. 6 137.1 292.1 155.9 30 31 32 33 34 35 E q u i t y in n o n c o r p . b u s . Security credit Miscellaneous assets 367. 8 1 .2 14. 8 3 8 1 ..1 1. 7 15,,7 4 0 2 ., 9 2. 5 17. 0 427, 6 2..7 18. 2 446. 9 4. 9 19. 8 486. 5 7.,0 21. 6 519.6 5.2 23.8 544. 8 4. 4 26. 3 534.5 4.9 28.7 33 34 35 36 Total 37 38 39 liabilities Credit market instruments Home mortgages Consumer creait 40 41 Tax-exempt Commercial 42 43 3an* loans n.e.c. Other loans 44 45 debt mortgages Security credit Trade credit D e f e r r e d and u n o a l d life insurance p r e m i u m s 46 47 (4) Net worth 287. 4 316. 2 345. 1 3 6 8 ..0 392. 3 425. 5 453.2 471. 9 517.9 36 275. 6 174. 6 77. 9 304. 4 190. 8 87. 4 332. 3 207. 0 97. 5 354. 5 219. 5 1 0 3 ..4 374. 9 2 3 1 .9 108. 6 434. 5 247. 0 119. 3 434.5 262.3 129.2 453. 4 273. 6 133. 8 495.7 296.5 169.4 37 38 39 11. 3 12. 3 13. 4 14. 6 15. 6 16. 7 17.9 19. 0 20.3 40 41 3. 5 8. 4 4. 8 9. 2 4. 4 10. 0 5. 1 11. 9 5. 5 13. 3 6. 2 15. 3 6.8 18.3 6. 1 20. 9 7.3 22.3 42 43 6. 3 2. 9 5. 5 3. 2 5. 9 3. 6 5. 8 4. 0 8. 9 4. 6 11. 5 5. 2 8.2 5.8 6. 9 6. 5 9.5 7.3 44 45 2. 9 3. 0 3. 3 3. 7 3. 9 4. 3 4.7 5. 1 5.4 46 2121. 3 2283. 9 2461. 3 2526. 0 2814. 3 3165. 2 3197.3 3348. 6 36 9 0 . 6 47 48 Memo: 48 Disposable 49 50 O w n e r - o c c . r e a l e s t a t e (5) H o m e m o r t g a g e s a s p e r c e n t of owner-occ. real estate 51 Nonprofit personal real income estate (6) 418. 3 454. 7 491. 0 530. 7 568. 7 617. 8 663.8 722. 0 784.8 559. 2 584. 6 6 0 9 .6 651. 9 688. 2 768. 7 826.7 867. 4 945.7 49 31.2% 32.6% 33.9% 33.6% 33.7% 32.1% 31.7% 31.5% 31.3% 50 57. 2 62. 6 69. 3 76. 8 83. 0 93. 7 106.6 117. 8 132.3 51 (1) H o u s e h o l d s and n o n p r o f i t o r g a n i z a t i o n s . (2) I n c l u d e s v a c a n t l a n d . ( 3 ) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e a n d c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) N o n c o r p o r a t e f a r m s , n o n f a r m n o n c o r o o r a t e b u s i n e s s , a n d un i n c o r p o r a t e d s e c u r i t y b r o k e r s and d e a l e r s . (5) L i n e s 5 • 10. (6) L i n e s 6 + 1 1 + nonresidential plant f r o m l i n e 7. Data are in billions of dollars. J u n e 8, 1 9 9 5 Household Sector Household 6 ,100 Year-End Balance Sheet of ' the 1974 1975 1 4717.5 4 9 5 7 .9 5 1 6 1 .2 5 6 6 4 .4 2 1667.7 1 6 6 7 .6 2 1 4 6 .6 2391 .1 4 5 6 7 1278.6 763.2 745.7 17.5 90.9 424.7 1 4 4 9 .9 676.9 6 5 6 .9 2 0 .1 1 0 2 .5 4 7 0 .5 1651 991 968 22 116 544 1612 1091 1066 24 125 595 .9 .5 .9 .6 .7 .7 2 0 1 1 ,.4 1224 3 1197, 2 2 7 .1 134 3 6 5 2 .8 9 10 11 388.9 339.6 49.1 4 3 7 .9 3 7 8 .0 59.6 495 2 4 2 6 .3 6 6 .9 576 2 5 0 5 .2 7 3 .0 6 7 2 .4 593 2 79 .2 7 6 6 .2 6 9 6 .2 8 9 .9 12 3049.8 3 0 7 3 ,.1 3 0 3 4 .5 3 4 7 3 .3 4 0 2 2 ..2 13 14 15 16 17 697.2 143.1 532.1 22.0 9 1 7 .6 164,.3 6 9 6 .5 5 3 .1 3 .7 1 0 3 4 ,.0 176,.2 6 0 9 ..1 43 3 3 .4 16 19 20 21 22 23 199.5 77.1 72.2 57.7 14.5 4.9 24 25 26 27 32.4 38.4 47.3 4.3 28 29 50.6 723.6 38. 7 536. 2 28. 2 336. 5 34.4 453. 5 30 31 32 143.9 347.5 179.4 151 .3 3 5 6 ., 0 166. * 1 5 8 .. 4 364. 2 137. 8 33 34 35 6 7 1 .6 5.0 31.3 7 9 4 ..8 6..9 3 4 ..1 877. 4 3. 9 3 6 .,8 36 580.3 668. 2 699. 8 755. 3 848. 6 37 38 39 553.1 331.9 168.4 624. 0 370. 7 192. 9 675. 3 401 .7 202. 3 7 2 3 .,5 439. 2 207. 5 817. 0 499. 5 230. 4 60 41 21 .5 4 22. 6 1 .3 23. 7 2. 7 24. 8 4. 7 25. 6 42 63 7.6 23.6 11 . 2 26. 2 16. 29. 4 2 3 .,0 31 . 5 66 65 13.1 8.2 8. 9 8. 9 7. 4 10. 46 6.0 6. 4 7. 47 4137.2 6309. 7 767 151 568 47 .4 .9 .5 .0 2 2 0 ..3 8 5 .6 .9 81 , 6 0 .6 21 ,5 3..7 39,. 0 41 .,3 46,, 1 8. 3 . 0. 630 157 602 67 2 .6 .2 .9 3 .2 2 .3 .9 .1 .9 .4 260,.9 9 5 .7 87,.6 63..3 2 4 .5 7,.9 47,.1 52. 9 4 9 .. 0 16. 2 8 .1 1 4 4 8 1 .5 197* 1977 1976 6 7 0 6 .0 7 3 5 2 .6 6 3 6 5 .7 9 6 9 1 .1 2 6 6 3 .6 3 0 6 6 .3 3601 4 1 7 6 .7 2302 1429 1396 31 147 725 2662 1680 1644 35 167 615 1979 3 Sector 23 Veir-End 1973 6 (I) Sector O u t s t m o In;* 1972 3 Household Outstandings i960 1 1 1 3 6 .7 4703 Total .0 assets Tangible 1 assets 2 .4 .1 .6 .2 .9 .4 3 3 3 6 .6 2136 . 7 2 0 6 2 .1 4 6 .5 215.6 1 0 1 4 .3 Reproducible assets Residential structures Owner-occupled housing Nonprofit Institutions Nonprofit Plant & equip. Consumer durable goods 9 3 9 .1 6 3 3 .9 1 0 5 .2 1 1 4 9 .3 1 0 2 4 .4 1 2 4 .9 1364 . 4 1 2 2 7 .3 1 3 7 .1 Land Owner-occupied ( 2 X 3 ) Nonprofit institutions 4 2 6 4 .5 4 7 6 4 .4 5 5 1 2 .4 6 4 0 5 .7 1 1 5 4 .4 1 9 5 .1 8 9 9 ,.4 5 6 .9 3 .0 1285 219 962 95 8 1419 253 1015 112 36 1572 264 1091 155 62 .1 .4 .4 .0 2 5 .2 .0 3 .7 .1 . .2 .6 .3 .0 .9 .5 3029 1914 1872 41 190 924 .2 .1 .1 .7 3 .8 6 (3) 9 10 11 Deposits Checkable deposits & curr. Small time 6 savings dep. Large time deposits M o n e y m a r k e t fund s h a r e s 13 14 15 16 17 Credit market Instruments U.S. govt, securities Treasury Savings bones Otner Treasury Agency 16 19 20 21 22 23 Total .6 .1 .2 .2 .1 3 4 5 6 7 financial assets 12 304,.5 113,.7 1 1 2 .2 76..3 3 5 .5 1..5 3 4 4 .1 1 2 8 .0 118 2 50,.7 37,.5 9 .8 416 183,.1 160,. 1 79 .9 8 0 .3 2 2 .9 461 2 2 1 1 .6 180 . 7 7 2 .5 108. 2 30..8 57 2 61 . 63. 5 8. 3 69,.7 51,.5 72,.7 22. 2 74 3 45..6 6 5 ,.3 28.. 3 76..4 31.. 1 Ill .,4 30..8 36. 2 6 5 4 .. 1 35..6 5 5 6 ,.3 36 .2 564.0 39..4 6 9 0 .. 0 4 5 ,.6 933. 9 M u t u a l fund shares Corporate equities 28 29 166. 5 4 6 2 ..6 1 5 8 ..9 175, 3 529. 7 184. 8 1 8 4 .,8 584. 3 131 .,9 196..0 6 8 4 ,.3 1 9 2 ..8 2 0 6 .,7 7 9 2 .,0 215. 2 2 1 6 ., 4 949. 3 246, Life insurance reserves P e n s i o n fund r e s e r v e s I n v . in b a n k p e r s o n a l t r u s t s 30 31 32 961. 5 4. 5 40. 6 1 072.8 5. 7 46. 0 1 2 0 4 .,0 5. 7 52. 9 1 4 1 3 ..0 8. 5 59. 5 1656. 1 10. 6 66. 7 1 8 9 2 ., 0 16. 2 73. 5 E q u i t y in rtoncorp. b u s . Security credit Miscellaneous assets 33 34 35 986. 0 1149. 5 1311. 9 5 1 .. 1 5 9 0 ., 0 267. 2 1110. 1 696. 4 312. 3 1273. 1 803. 6 353. 6 1 26. 7 10. 7 26. 1 13. 6 29. 6 16. 7 31. 5 Tax-exempt Commercial 23. 4 33. 6 23. 6 35. 7 23. 2 39. 5 21. 7 45. 9 27. 8 54. 7 Bank loans n.e.c. Other loans 8. 3 10. 6 12. 5 10. 7 16. 5 11. 17. 1 9 11. 17. 5 12. 6 24. 7 13.6 7. 7 6.4 9. 3 10. 3 11. 7 12. 9 5109. 0 5857. 4 6366. 8 7236. 3 8379. 3 2 7 3 ,.2 105.. 0 104,.5 6 7 .4 37,.2 0..5 50, 3 63..9 52,. 6 1..5 2 8 3 ..7 106. 9 103. 3 72.. 0 31 ..3 3 .6 53. 3 72..1 56. 7 -5. 3 .8 8. 1 8 Tax-exempt securities C o r o o r a t e ana f g n . b o n d s Mortgages Open market paper 8 1442. 6 Total 1 3 9 1 ., 1 904. 9 355. 4 9666. (4) liabilities 36 Credit market instruments Home mortgages Consumer credit debt mortgages Net 37 36 39 60 61 62 43 Security credit Trade credit D e f e r r e d and u n p a i d life insurance pramiums 1 24 25 26 27 worth 45 46 47 Memo: 46 848.5 958. 1 1046. 6 1150. 9 49 1085.5 1236. 9 1395. 2 1572. 50 30.5% 3 0 . 0% 28.7 % 51 150.6 174. 9 196. 5 8 1264. 0 1391. 3 1567. 1753. 0 1953. 0 1790. 4 2094. 7 2478. 2 2 8 9 7. 2 3239. 4 27.9% 27.6% 26.1% 2 8 . 3% 27.9% 27.5% 213. 5 230. 2 256. 9 294. 2 340. 3 376. 5 1 income 48 O w n e r - o c c . r e a l e s t a t e (5) 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 Disposable 50 Nonprofit personal real estate (6) (1) H o u s e h o l d s and n o n p r o f i t o r g a n i z a t i o n s . (2) I n c l u d e s v a c a n t l a n d . ( 3 ) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e a n d c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) N o n c o r p o r a t e farms, n o n f a r m n o n c o r p o r a t e b u s i n e s s , and u n i n c o r p o r a t e d s e c u r i t y b r o k e r s and d e a l e r s . (5) (6) Data are in billions of dollars. L i n e s 5 • 10. Lines 6 + 1 1 + f r o m l i n e 7. nonresidential plant 49 51 J u n e 3, 1 9 9 5 Household Sector Household 8.100 2 4 Year-End 1 Total the Household Sector 1982 1983 1984 1985 Sector (1) 1986 1987 1988 Outstandings 1989 1 1 8 9 3 .9 126 79 .9 1 3 7 5 7 .6 1 4 7 0 2 .2 1 6 2 7 1 .4 1 7 7 8 0 .6 19035 . 7 2 0 4 4 8 .4 2 2 5 1 0 .3 1 5 0 9 6 .5 5 3 5 8 .5 5 6 7 2 .8 6 1 6 0 .0 6 6 0 3 .2 7 1 0 0 .4 7656 . 1 8102.8 8 7 0 8 .6 2 Reproducible assets Residential structures Owner-occuoled housing Nonprofit institutions Nonprofit plant & equip. Consumer durable goods 3567 2243 2193 50 237 1086 3707 2317 2265 51 256 1133 3888 2421 2368 53 273 1193 4124 2552 2496 55 290 1281 4391 2692 2634 58 308 1391 4757 2902 2843 61 327 1527 5157 3148 3081 66 349 1659 5408 3223 3156 66 376 1808 5 7 7 3 .7 3 6 4 0 .5 3 3 7 0 .3 70 .2 4 0 3 .6 1 9 2 9 .6 3 4 5 6 7 8 Land Owner-occupied (2)(3) Nonprofit Institutions 1 5 2 9 .2 1 3 7 9 .3 1 4 9 .9 1 6 5 1 .5 1 4 9 2 .8 1 5 8 .8 1784 . 0 1 6 1 5 .5 1 6 8 .5 2 0 3 5 .4 1 8 5 2 .6 1 8 2 .8 2 2 1 1 .5 2 0 1 6 .0 1 9 5 .5 2 9 3 4 .9 2 6 8 8 .3 2 4 6 .6 9 1 0 11 6 7 9 7 .4 7 3 2 1 .4 8 0 8 4 .8 8 5 4 2 .2 9 6 6 8 .2 1752 298 1127 179 148 1908.6 3 1 9 .1 1 2 4 8 .9 1 6 0 .2 1 8 0 .5 2 0 7 5 .4 3 3 2 .4 1 4 3 6 .1 1 5 7 .7 149..3 2 3 2 9 .5 3 3 1 .4 1 5 7 4 .2 231,.4 192..6 2454 348 1689 221 194 4 9 3 .0 2 3 0 .0 1 9 8 .3 6 8 .2 130,. 1 31 .7 527 2 2 3 7 .4 221,.6 68 3 153. 2 15,.8 627 2 2 7 8 ,.7 268 3 71..5 196,.8 10. 5 712,.4 3 4 4 ,.7 3 1 0 ..8 74,.5 236. 3 33..9 8 6 1 .8 350 . 1 3 0 6 ..2 79 .8 2 2 6 .4 4 3 .9 823.8 312,.5 2 8 1 .2 93..3 1 8 7 .8 31 .3 93,.2 31 , .3 119,. 3 19..4 1 2 2 .1 24. 9 121, 5 21. 3 156..7 28..1 1 2 1 ..6 42. 2 184. 3 31 ,, 1 111. 7 40. 6 257. 2 30..6 1 2 4 .8 99,. 0 2 4 2 .5 60 2 115..4 93, 3 3 2 2 .5 6 2 .3 171 . 7 114,.8 375. 3 38..4 178. 6 1 4 6 .,1 4 3 0 .8 6 0 .6 190..2 136..8 24 25 26 27 46 .6 8 3 9 ..9 57. 3 904. 7 87. 7 1 027.8 105. 7 951. 4 1 9 2 ..4 1210. 3 3 1 8 ..3 1 3 9 8 ..6 3 5 2 ..5 1383 . 0 370. 1 1513. 7 434. 6 1828. 5 28 29 3 4 5 6 7 8 12 of Year-End assets Tangible 9 10 11 Sheet Outstandings 1981 2 Balance Total assets financial (3) assets 13 14 15 16 17 Deposits Checkable deposits & curr. Small time 3 savings dep. Large time deposits H o n e y m a r k e t fund s h a r e s 18 19 20 21 22 23 Credit market instruments U.S. govt, securities Treasury Savings bonds Other Treasury Agency 24 Tax-exempt securities C o r p o r a t e and f g n . b o n d s Mortgages Open market paper 26 27 .3 .3 .3 .0 .8 .2 .2 .1 .0 .1 .0 .3 .7 .6 .0 .7 .7 .6 .3 .3 .4 .8 .6 .2 .8 .5 .9 .5 .7 .5 .1 .4 .1 .1 .4 .3 .5 .7 .9 .8 .5 .6 .9 .8 .5 2342 . 7 2 1 3 7 .6 2 0 5 .0 1 0 6 8 0 .2 2 6 5 6 .7 4 3 6 .1 1 7 8 3 .9 206,.1 230,.6 .5 .1 .8 .3 .9 .5 2 4 9 8 .6 2 2 8 7 .1 2 1 1 .4 1 1 3 7 9 .6 2761 431 1829 247 253 .7 .4 .1 .9 .3 1 0 3 1 .7 3 6 0 .3 2 8 9 .7 101 .1 188..6 70..6 .7 .4 .5 .9 .9 .4 2694 . 1 2463 . 0 231 .0 1 2 3 4 5 .6 2938 449 1939 280 269 .8 .3 .5 .9 .1 1 2 3 7 .5 499 . 1 3 6 5 .6 109 .6 2 5 6 ..1 133..5 13801 . 7 12 3083 443 2002 288 346 .7 .3 .4 .9 .0 13 14 15 16 17 1345 527 344 117 226 182 .8 .4 .6 . 7 .9 .8 18 19 20 21 22 23 28 29 M u t u a l fund s h a r e s Corporate equities 30 31 32 Life insurance reserves P e n s i o n <u?d r e s e r v e s I n v . in b a n k p e r s o n a l t r u s t s 225, 6 1 0 3 9 ., 0 2 4 8 .. 1 232. 8 1 2 6 1 ..1 264. 2 240.8 1499. 6 293. 2 246. 0 1669. 8 306. 1 2 5 6 .,7 2032. 2 358. 3 274. 2 2 4 1 1 ., 1 4 0 4 .,4 300. 3 2616. 2 414. 2 325.5 2 8 6 0. 7 443. 7 354. 3 3 4 3 0. 9 515. 1 30 31 32 33 34 35 E q u i t y in n o n c o r p . b u s . Security credit Miscellai*ecus assets 2057. 8 14.,7 80. 4 2960. 4 17. 8 87. 4 2109. 7 20. 6 102.9 2995. 3 21. 6 104. 2 2 1 3 4 .,4 35. 1 132. 5 2199. 3 44. 0 149. 8 2 3 3 6 .,0 39. 1 174. 9 2423. 3 40. 9 191. 3 2532. 4 53. 2 206. 2 33 34 35 36 Total 37 38 39 liabilities Credit market instruments Home mortgages Consumer credit 40 41 Tax-exempt Commercial 42 43 Ban* loans n.e.c. Other loans 44 45 debt mortgages Security credit Trade credit D e f e r r e d and u n p a i d life insurance premiums 46 47 (4) Net worth 1552. 2 1625. 1 1801. 8 2019. 0 2332. 9 2602. 4 2859. 0 3174. 1 3496. I 36 1499. 7 973. 3 3 7 2. 3 1568. 1 1034. 7 388. 7 1733. 4 1092. 8 437. 6 1950. 9 1220. 2 519. 3 2242. 7 1378. 8 601. 6 2504. 5 1573. 7 659. 1 2770. 7 1795. 3 692. 0 3073. 6 2023. 1 742. 1 3379. 6 2253. 1 796. 4 37 38 39 21. 1 33. 8 29. 6 36. 8 41. 0 49. 9 51. 2 56. 9 81. 3 62. 8 79. 1 70. 9 78. 2 81 . 0 79. 5 104. 7 81. 9 123. 7 40 41 33 5 65. 8 35. I 73. 2 35. 6 76. 5 23. 9 79. 4 34. 0 84. 3 32. 2 89. 4 31. 7 92. 4 27. 8 96. 5 25. 8 98. 6 42 43 23. 0 14. 8 25. 8 15. 6 34. 2 18. 0 31 .8 21. 2 50. 7 24. 3 57. 4 26. 6 41. 8 31. 4 43. 5 41. 5 42. 5 57. 6 44 45 14. 7 15. 5 16. 1 15. 1 15. 2 13. 9 15. 1 15. 5 16. 6 46 10341. 7 11054. 9 11955. 8 12683. 2 13938. 4 15178. 3 16176. 7 17274. 3 19014. 2 47 Memo: 48 Disposable 49 50 O w n e r - o c c . r e a l e s t a t e (5) H o m e m o r t g a g e s a s p e r c e n t of owner-occ. real estate 51 Nonprofit personal real income estate (6) 2174. 5 2319. 6 2493. 7 2759. 5 2943. 0 3 1 3 1 .5 3289. 6 3548. 2 3787. 0 48 3572. 6 3758. 4 3983. 9 4349. 4 4650. 1 4978. 2 5368. 9 5619. 6 6058. 5 49 27.2% 26.7 % 27.4% 28. 0% 29.6% 31.6% 33.4% 3 6 . 0% 37.1% 50 413. 2 438. 6 464. 6 495. 7 525. 0 553. 1 580. 5 621. 1 659. 2 51 (1) H o u s e h o l d s and n o n p r o f i t o r g a n i z a t i o n s . (2) I n c l u d e s v a c a n t l a n d . ( 3 ) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e a n d c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) N o n c o r p o r a t e farms, n o n f a r m n o n c o r p o r a t e b u s i n e s s , and u n i n c o r p o r a t e d s e c u r i t y b r o k e r s and d e a l e r s . (5) L i n e s 5 • 10. ( 6 ) L i n e s 6 • 11 • n o n r e s i d e n t i a l p l a n t f r o m l i n e 7. Data are in billions of dollars. J u n e 8, 1 9 9 5 Household Sector Household B.190 Year-End Balance Sheet of the Housenold Sector 2 5 Outstandings 1990 Sector (1) Year-End 1991 1992 1 22797.3 24829.1 2 8774.7 9286.0 9557 . 3 4 5 6 7 8 6107.1 3633.0 3563.1 72.9 427. 1 2047.1 6358.4 3776.5 3703.9 72.7 443.0 2138.9 6661 3975 3901 73 464 2222 9 10 11 2667.6 2455.8 211.8 1993 2 6 0 2 1 .6 1994 27520.5 26539.4 9962.9 10544.1 .7 2 .9 .3 .3 .2 7067.3 4238.5 4163.6 74.7 492.5 2336.3 7526.6 4518.0 4441.8 76.2 520.0 2490.8 2927.6 2789.1 147.5 2 8 9 5 .5 2 8 0 7 .5 8 8 .0 2915.6 2846.1 69.5 3015.3 2947.9 67.4 1 12 14022.6 15534.1 1 6 4 6 4 .5 17537.6 17995.3 13 14 15 16 17 3152.4 446.8 2068.7 260.4 374.5 3199.2 510.8 2021.3 193.6 363.3 3 9 7 9 .9 6 3 4 .6 1 9 5 6 .7 147.2 341 . 4 3362.5 712.0 1867.9 128.9 334.6 3101.5 721.6 1861.7 145.2 353.1 16 19 20 21 22 23 1499.3 646. 0 449.4 126.2 323.2 198.6 1446.5 6 0 0 .1 405.8 138.1 267.7 194.3 1523 698 461 157 304 237 .i .8 1517.8 694.4 499.1 171.9 327. 1 195.4 1873.0 1067.9 674.6 179.9 494.8 413.1 24 25 26 27 448.5 94.7 177.2 131.0 483.3 105. 3 162.1 96.1 428.8 145.3 177.1 72. 1 387.6 184.2 188.5 24.6 28 29 451.9 1716.7 592. 0 2468.6 733. 9 2810. 0 989.5 3076.7 1067.2 2885.9 30 31 32 380.0 3464.2 522.1 405.7 4138. 3 606.3 433. 9 4516. 5 629. 6 468.2 4974.7 66 3 .9 488.4 5 0 0 9 .5 6 7 0 .0 33 34 35 2529.1 62.4 224.4 2444.4 87.0 234.1 2411. 5 76. 1 251 .0 2420.5 192.7 264.1 2510.7 107.9 281 .3 .5 .3 .3 .3 4 4 8 .6 106 .6 166 2 103.. 0 Outstandings 36 3738.5 3919.7 4142.9 4466.4 4825.6 37 38 39 3614.3 2455.0 812.4 3764.7 2613. 7 797.4 4032. 3 2768. 1 803. 0 4294.3 2972.5 866.5 4645.6 3162.6 984.0 40 41 65.8 139. 1 93.5 151.5 106. I 163. 9 120.0 161.4 134.5 191.4 42 43 12. 1 109.8 8.7 119.9 11. 4 127. 9 19.6 134.1 32.5 140.6 44 45 38.8 68.9 55.1 64.3 53. 3 71. 5 75.9 79.6 74. 1 68.6 46 16.5 15.7 15. 6 16.6 17.5 47 19 0 5 6 . 6 20900.4 21678.8 23054.1 23713.6 Total assets Tangible l assets 2 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant S equip. Consumer durable goods Land Owner-occupied (2)(3) Nonprofit Institutions Total financial (3) assets 46 4050.6 4236.6 4505. 8 4686.7 4959.6 6015.9 6484.0 6709. 3 7009.9 7389.7 50 40.8% 40.3% 41.5% 42.4% 42.7% 51 643.5 590.7 548. 6 555.7 578.6 Deoosits Checkable deposits 8 curr. S m a l l time S s a v i n g s dep. Large time deposits M o n e y m a r k e t Fund s h a r e s 13 14 15 16 17 Credit market instruments U.S. govt, securities Treasury Savings bends Other Treasury Agency 18 19 20 21 22 23 Tax-exempt securities C o r p o r a t e and f g n . b o n d s Mortgages Open market paper 28 Life insurance reserves P e n s i o n fund - e s e r v e s I n v . in b a n k p e r s o n a l t r u s t s 30 31 32 E q u i t y in n o n c o r p . b u s . Security credit Miscellaneous assets 33 34 35 29 (4) liabilities 36 Credit market instruments Home mortgages Consumer credit Tax-exempt Commercial debt mortgages Bank loans n.e.c. Other loans Security credit Trade credit D e f e r r e d and u n p a i d life insurance oremlums Net worth Disposable personal income O w n e r - o c c . r e a l e s t a t e (5) 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 are in billions of dollars. 37 38 39 40 41 42 43 (6) H o u s e h o l d s and n o n p r o f i t o r g a n i z a t i o n s . (2) I n c l u d e s v a c a n t l a n d . ( 3 ) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e a n d c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) N o n c o r p o r a t e f a r m s , n o n f a r m n o n c o r p o r a t e b u s i n e s s , and u n i n c o r p o r a t e d s e c u r i t y b r o k e r s and d e a l e r s . (5) L i n e s 5 • 10. (6) L i n e s 6 * 1 1 * nonresidential plant from l i n e 7. Data 24 25 26 27 M u t u a l fund shares Corporate equities Total (1) 9 10 11 12 Memo: 49 3 4 5 6 7 8 44 45 June 3, 1995 F i r m and N o n f a r m Noncorporate Business 2 g Farm B.102-B.103 Year-End Balance Sheets of Unincorporated and Nonfarm Year-End 1946 1947 1946 B.102 Farm assets 2 Tangible Noncorporate assets 1949 Business Business Business Outstandings 1945 1 Total NonfInanclal 1950 1951 1952 Outstandings 1953 C1) 8 6 .7 101. 7 1 2 3 ,6 124.,6 121..1 144, 2 157..7 157. 2 156.4 1 78 .6 92. 6 114, 9 116. 3 113.,1 136, 2 149 ,4 146. 9 146,.1 2 3 4 5 6 Reproducible assets Residential structures Nonres. plant 1 equipment Inventories 3 2 .5 11 .4 7.,0 14..1 41. 8 13. 2 9. 0 19. 6 62 5 15, 2 11.,9 35. 4 63..1 16.3 14. 5 32. 3 61.,7 16..8 16.,5 26..4 73,.0 17,,9 19 .0 36,.1 76,.9 16.,9 21.4 36..6 77. 3 19. 1 22. 6 35 4 76..9 19, 2 23,,4 34,.4 3 4 5 6 7 Land 46 .0 51. 1 52. 4 53. 2 51.4 63, 2 70. 5 71. 6 71, 2 7 8 Total 9 10 11 12 financial assets Checkable deposits 8 curr. Miscellaneous assets Insurance receivables E q u i t y in 3 S E s (3) 6..1 6. 8 6,,7 6. 4 6..0 6..0 6.,4 8. 3 8 .3 8 7 ,4 0..7 0,.5 0,. 2 8. 0 0. 8 0. 6 0. 1 7.,8 0..9 0..8 0..1 7. 5 1,, 0 0..8 0..1 7..0 1..0 0..9 0,.1 7,.0 1,.1 0,.9 0,.1 7. 3 1.,1 1,.0 0,.1 7. 1 1. 2 1. 1 0. 1 7,.0 1, 3 1, 2 0,.1 9 10 11 12 7 .6 8. 3 9 2 10. 2 10..7 12 .0 13..8 14. 6 14..3 13 14 15 16 17 Credit market instruments Mortgages Bank loins n.e.c. Othar loans 6 .6 4.8 1..0 0.8 7. 0 4. 9 1. 3 0.8 7. 4 5 .1 1..6 0..8 8..1 5. 3 1 .9 . 0.,8 8. 5 5. 6 2 .0 0,.8 9. 5 6. 2 5 0..9 10. 8 6. 7 3..1 1.. 0 11. 6 7. 2 3. 3 1. 1 11,.5 7,.7 2 .7 1,. 1 14 15 16 17 16 Trade 1,.0 1. 4 1..7 2., 1 2 3 2 5 3..0 3. 1 2..6 IS 79 . 1 77,. 7 1. 93. 3 91. 6 1 .7 114, 5 112 3 2 .2 114..5 112..4 2. 2 110. 4 108. 3 2 . 1 132. 2 129. 6 2. 6 143. 9 141 ..1 2 a 142. 5 139. 5 2. 9 142.. 1 139.. 0 3., 1 19 20 21 6 0 .5 68. 7 73..5 76..0 75.. 1 88. 3 99. 9 99. 8 22 13 T o t a l liabilities debt 19 N e t w o r t h Noncorporate 20 Corporate 21 Memo: 22 Total real estate (2) (1) I n c l u d e s c o r o o r a t e and n o n c o r p o r a t e C2) L i n e s 4 * 7 * n o n r e s i d e n t i a l plant f r o m l i n e 5. 8.103 1 Total assets 2 Tangible assets 98., 0 farms. Nonfarm Noncoraorete Business 104. 1 120. 7 138.5 148. 7 152, 6 166. 0 176.,3 182.5 186.9 1 88. 4 103. 8 120.6 130. 7 134.. 1 145. 9 155..6 159. 9 163.6 2 116. 6 74. 7 30. 3 13. 6 126.2 78. 5 33..4 14. 3 128. 2 79. 8 34.,4 14., 0 130.2 80.2 35.5 14.S 3 4 5 6 3 4 5 6 Reproducible assets Residential structures N o n r e s . plant 2 equipment Inventories 72. 1 50. I 14.8 7. 2 85. 1 57. 2 18.6 9. 3 98.7 65.2 23.1 10.4 106. 9 68. 9 25. 9 12. I 109..0 70. 3 27..0 11.. 7 7 Land 16. 4 18.. 7 21.9 23. 9 25..1 27. 3 29.5 31. 7 33.4 7 15. 6 16. 9 17.8 18. 0 18..6 20. 2 20,.6 22. 7 23.3 6 9. 7 9. 7 10.1 9. 9 10. 3 10. 5 10. 8 10. 4 10.4 9 10 11 12 13 14 6 Total (3) financial assets 9 10 11 12 13 14 Checkable deposits & Time deposits Treasury securities Consumer credit Mortgages Trade credit 15 16 17 18 Miscellaneous assets Insurance receivables E q u i t y in G S E s (4) Other 19 T o t a l curr. liabilities 0, 6 0..7 0.8 0. 9 1.,0 1. 1 1.,3 2 7 2.8 4. 5 5..6 5.9 5. 9 6 . 0 7. 1 7..0 7.,3 8.2 0. 8 0. 8 0..9 0..9 l.l 1.1 1. 2 1. 2 1. 3 1. 3 1. 4 1. 4 1. 5 1. 5 1,,7 1,.7 1.9 1.9 7. 7 11. 2 13.2 14. 7 15.,8 18. 9 20. 8 23 .0 24.8 19 9. 5 5. 7 1. 1 2. 7 10 ,5 6.,7 0..8 3 .0 12. 6 8. 0 1. 3 3. 3 14,,6 9 5 1 .5 , 3 6 16,,4 10,.7 1,.7 3 .9 17.4 11.6 1.8 4.1 20 21 22 23 15 16 17 18 20 21 22 23 Credit market instruments Mortgages Bank loans n.e.c. Other loans 5. 1 3. 6 0. 3 1. 2 7. 5 4 .4 1,.0 2 .1 8.6 5.0 1.3 2.5 24 25 Taxes Trade 2. 5 3 .7 4.4 5. 1 5. 3 6. 3 6., 1 6,.5 7.3 24 25 26 Miscellaneous 0. 1 0,.1 0.1 0. 1 0..1 0. 1 0., 1 0,.1 0.1 26 96. 4 109,.5 125.3 134.,1 136 .9 147. 2 155..6 159..5 162.2 27 75. 7 87,.5 100.9 107. 4 110 .0 118. 0 125,.4 129 .2 131.6 28 27 N e t . payable debt liabilities worth Memo: 28 Total real estate (5) (3) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e cf r e a l e s t a t e and c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (4) E q u i t y in the F a r m C r e d i t S y s t e m . (5) L i n e s 4 • 7 • n o n r e s i d e n t i a l p l a n t from line 5. Data are in b i l l i o n s of dollars. June 8, 1995 Farm and N o n f a r m N o n c o r p o r a t e Farm Business B. 102-B. 103 B a l a n c e S h e e t s of U n i n c o r p o r a t e d and N o n f a r m N o n c o r p o r a t e B u s i n e s s ^~j Nonfinancial Business Year-End Outstandings 1954 Year-End Outstandings 1955 1956 1957 1958 B . 1 0 2 Farm B u s i n e s s 1959 1960 1961 1962 (1) 1 158 .3 162.4 170 .4 177 .5 188. 2 192.5 195..8 202,. 7 210,.3 T o t a l assets 2 150 .1 154.1 162 . 1 169 .3 179.,7 184.4 188..1 194..9 202..4 Tangible 3 4 5 6 75 .5 19.3 23 .7 32 .5 74.7 19.6 24.8 30.2 76 19 25 30 77 .5 19 .6 26 .4 31..5 80. 2 19. 4 27..0 33 8 78.7 19.4 27.7 31.6 80. 4 19. 2 28. 2 33. 0 81..7 19. 2 28..8 33. 7 83..8 19..1 29.,9 34. 8 . 1 .8 .9 .4 7 74..5 79.4 86 .0 91..8 99. 4 105.7 107. 7 113. 2 118. 6 a 8. 3 8.4 8..3 8. 2 8. 6 8. 0 7. 7 7. 8 7. 8 9 10 11 12 6..9 1..4 1..2 0..1 6.9 1.5 1.3 0.1 6,.7 1..6 1,.4 0,.2 6, 6 1.,6 1..4 0..2 6. 9 1. 7 1 .5 0. 2 6.2 1.8 1.6 0.2 5. 8 1. 8 1. 6 0. 2 5. 9 1. 9 1. 7 0. 2 5, 9 2. 0 1. 7 0. 2 assets 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 Land Total f i n a n c i a l a s s e t s C h e c k a b l e deposits 3 curr. Miscellaneous assets Insurance r e c e i v a b l e s E q u i t y in G S E s (3) 13 15. 2 16.9 17,.8 19.. 1 20. 9 23.4 24. 5 26. 2 29. 0 14 15 16 17 12. 3 8. 2 2..9 1 .2 13.7 9.0 3.4 1.3 14..6 9..8 3.4 1.. 4 15. 6 10..4 3..8 1. 5 17. 0 11 .1 4. 2 1 .7 18.9 12.1 4.9 2.0 20. 3 12. 8 5. 1 2. 1 21. 6 13. 9 5. 3 2. 3 23. 9 15. 2 6. 1 2. 6 18 2. 9 3.2 3. 2 3. 5 3. 9 4.4 4. 5 4. 7 5. 2 19 20 21 143. 1 139. 3 3. 3 145.5 141.9 3.6 152. 6 148. 4 4. 2 158. * 153. 7 4. 7 167. 3 161 .9 5. 4 169.1 163.3 5.8 171 .3 165. 0 6. 3 176. 5 169. 6 6. 9 181 .2 173. 8 7. 5 Net w o r t h Nonco-por ate Corporate 22 103. S 109.5 117. 2 123. 0 130. 6 137.4 139. 7 145. 9 152. 1 Memo: Total real estate 9 10 11 12 Total l i a b i l i t i e s Credit market instruments Mortgages Bank loans n . e . c . Other loans 14 15 16 17 Trade debt 19 20 21 '2) (1) Incl udes cor p crate and n o n c o r p o r a t e (2) Line 3 4 • 7 • n o n r e s i d e n t i a l plant from line 5. farms. B. 103 N o n f a - m Nor.cor bo rate Bus iness 1 191 . 0 200 . 7 211 .4 216.7 222 . 9 226.5 230 .5 236 .6 244 . 4 Total assets I 2 167 . 0 176 . 4 185 . 4 193.3 194 . 1 199.3 203,.3 208 .8 216 .8 Tangible 2 3 4 5 6 132 .7 81 .7 36 . 7 14 .4 143 . 1 8 4 .3 40 .6 15 .3 146 .8 8 5 .9 44 .9 16 . 3 150.4 86.6 47.3 16.5 153 87 43 16 .2 .8 .5 .9 157.3 89.9 50.5 16.9 159,.9 91 .7 51,.6 16,.6 162 . 9 94 .2 53 .1 15 .6 168 .8 97 .6 55 . 4 15 .8 7 34 .3 36 .3 38 .6 39.9 40 .9 42.0 43. 4 46 . 0 48 . 0 8 24 . 0 24 .3 26 . 1 26.4 28,.8 27.3 27. 2 27 .8 27 .6 9 10 11 12 13 14 10,.9 11 .2 11 .5 12.4 13,.6 12.7 12. 4 12 .5 12 .5 15 16 17 18 2..8 2 .9 3. 1 3.1 3. 1 3.4 3. 2 3. 1 3, 3 8.,2 7 .9 9. 1 8.4 9,4 8.2 8. 6 8..9 8..5 2., 1 2. 1 2 .3 2. 3 2..4 2.,4 2.6 2.6 2., 7 2. 7 2.9 2.9 3. 0 3. 3 3. 2 3., 1 0., 1 3. 3 3. 3 0., 1 " assets R e p r o d u c i b l e assets Residential structures N o n r e s . slant & equipment Inventories Land Total (3) 3 4 5 6 7 financial assets 8 C h e c k a b l e d e p o s i t s & curr. Time deposits Treasury securities C o n s u m e r credit Mortgages Trade credit 9 10 11 12 13 14 Miscellaneous assets Insurance - e c e i v a b l e s E q u i t y in G S E s (4) Other 15 16 17 18 19 28. 2 32. 0 35. 2 36-8 39. 9 43.5 68. 3 52. 6 57. 5 20 21 22 23 19. 2 13. 1 1. 9 4. 3 21. 8 14. 7 2. 4 4. 7 24. 1 16. 1 3. 0 5. 0 25.7 17.4 3. 1 5.2 28. 2 19. 5 3. 2 5. 4 32.6 23.1 3.6 5.8 36. 6 26. 3 4. 0 6. 3 41. 8 31. 1 4. 3 6. 4 47. 3 35. 9 4. 7 6. 7 Credit market instruments Mortgages Bank loans n.e.c. Other loans 20 21 22 23 24 25 8. 9 10. 1 11. 0 11.0 11. 6 10.8 11 .2 10. 6 10. 0 Taxes payable Trade debt 24 25 26 0. 1 0. 1 0. 1 0.1 0. 1 0.1 0. 1 0. 2 0. 2 Miscellaneous 27 8 168. 7 176. 2 180.0 183. 0 183.1 182. 6 184. 0 186. 9 168. 5 Memo: 175. 9 Total real estate (N 28 - 134. 5 141. 1 147. 3 150.6 - 153. 6 158.0 161. 9 Total liabilities 19 liabilities Net worth 27 (5) (3) E s t i m a t e based on d i f f e r e n c e b e t w e e n -market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) E q u i t y in the Farm Credit S y s t e m . (5) Lines 4 + 7 + n o n r e s i d e n t i a l Plant from line 5. Data are in bill ions of dollars 26 28 June 8, 1995 F a r m and N o n f a r m N o n c o r p o r a t e B u s i n e s s 2 8 F a r m and N o n f i r m N o n c o r p o r a t e B u s i n e s s B . 1 0 2 - B . 1 0 3 B a l a n c e S h e e t s of U n i n c o r p o r a t e d N o n f l n a n c l a l B u s i n e s s Vear-Erd Outstandings Year-End O u t s t a n d i n g s 1963 1965 1966 1967 B . 1 0 2 Farm B u s i n e s s 1 Total assets 2 T a n g i b l e assets 3 4 5 6 R e p r o d u c i b l e assets Residential structures N o n r e s . plant & e q u i p m e n t Inventories 7 Land 6 Total 9 10 11 12 financial assets C h e c k a b l e d e p o s i t s 8 curr. 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 GSEs (3) 13 Total liabilities 14 15 16 17 C r e a i t market instruments Mortgages Bank loans n.e.c. Other loans 18 Trade deot 19 Net worth 20 Noncorporate 21 Coraorate Memo: 22 Total real estate (2) (1) Includes c o r p o r a t e and n o n c o r p o r a t e (2) Lines 4 * 7 * n o n r e s i d e n t i a l P l a n t from line 5. 1968 1970 (1) 218 .9 227 .9 245 .0 257 .4 270 .3 286 .9 302 .2 312.6 339.0 1 211 .0 219 .7 236 .5 248 .7 261 .2 277 .3 292 . 0 301.9 327.5 2 106 22 45 38 114,.6 23 .5 49 .4 41..9 117.5 24.2 53.3 40.1 126.7 25.7 58.0 45.0 3 55 . 1 18,.8 31 .4 34,.9 65 19 33 33 . 4 .2 .0 .3 92 19 35 37 .2 .2 .5 .4 95 20 38 36 .1 .1 .7 .3 96 .7 20 .6 41..6 36 .5 . 1 .2 .2 .7 6 125..9 134 .3 144,.3 153 .6 162 .6 171 .2 177, 2 164.3 198.6 7 7,.9 6 2 8,.5 6 .7 9 .1 9..6 10. 2 10.8 11.5 8 5,,7 2 .1 1. 9 0, 3 5 ,6 2 3 2,.0 0, 3 6., 0 2,,5 2. 2 0. 3 6..0 2..7 2. 3 0.,4 6,.1 3 .0 2 .6 0..4 6,,3 3. 3 2. 8 0. 5 6.,4 3. 8 3. 2 0. 6 6.5 4.3 3.6 0.6 6.7 4.8 4. 1 0.7 9 10 U 12 32. 0 34..8 38. 7 42. 3 45,,4 47. 0 49. 6 52.3 57.0 13 26. 4 16. 8 6. 7 2. 9 29.,0 18. 9 7. 0 3., 1 32. 3 21. 2 7. 7 3. 5 35. 5 23..1 8. 6 3. 9 38, 8 25.,0 9. 3 4. 5 41 .6 27. 2 9. 7 4. 7 44. 6 29. 0 10. 3 5. 3 47.6 30.5 11.2 5.9 51.6 32.4 12.5 6.7 14 15 16 17 5. 6 5, 8 6. 4 6. 8 6. 6 5. 4 5. 0 4.8 5.4 18 186. 9 178. 8 8. 1 193. 1 164. 4 a. 7 206. 3 196. 7 9. 6 215. 1 204. 9 10, 2 224. 9 214. 0 10. 9 239. 9 227. 8 12. I 252. 5 239. 5 13. I 260.3 246 .6 13.7 262.0 267 .0 15. 0 19 20 21 160 I farms. 3 . 1 3 3 N o n f a r m N o n c o r p o r a t e Busine 1 Total assets 2 Tangible assets 3 4 5 6 Reoroducioie assets Residential structures N o n r e s . plant 8 e q u l a m e n t Inventories 7 Land 8 Total (3) financial a s s e t s 9 10 11 12 13 14 C h e c k a b l e d e p o s i t s 8 curr. Time d e p o s i t s Treasury securities Consumer credit Mortgages Trade credit 15 16 17 18 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 GSEs (4) Other 19 Total liabilities 20 21 22 23 C r e d i t market i n s t r u m e n t s Mortgages Bank loans n . e . c . Other loans 24 25 Taxes payable Trade debt 26 Miscellaneous liabilities 27 Net worth Memo: 28 Total real estate (5) 251.4 264 .4 279 .5 301 .2 3 1 8 .7 352.2 367..7 417 .9 469 .9 1 223.8 236 .2 250 .9 271 .8 286 .4 322.5 356..5 385 .5 430 3 2 173.5 100.3 58.1 15.1 184 .1 107 .1 61 .9 15 .1 196 . 0 112 3 67..8 15,.8 212 121 75 16 225 127 81 17 249.7 143.0 89.1 17.6 275.,7 158..5 96..8 16..3 296 .9 168 .6 109 .2 19 . 1 331 .9 189 . 1 121 . I 21,.7 3 4 5 6 50.3 5 2 .1 54. 9 5 8 .8 63 .2 72.8 60. 9 68,.6 96.,4 7 27.6 26 .2 26, 6 29,.4 30,.4 29.6 31. 1 32 .4 39. 6 8 12.5 12,.5 12. 5 12,.5 12,.5 12.5 12. 5 0..1 3 9 0.3 3.9 12 .5 1,.4 0,.7 3 .8 0,.7 6 .6 12.5 3., 0 0. 9 3. 7 1.,9 8,,1 9 10 11 12 13 14 6 .7 6 .5 0..2 9. 5 7, 3 0,.2 2. 0 15 16 17 18 are in billions of d o l l a r s . .2 . 1 . 0 . 1 3.6 3,.8 4., 0 4,.0 8.0 6..1 7. 9 8..5 9,, 0 7.7 0. 5 3. 7 0. 3 8. 1 3.5 3.5 0.1 3,,6 3,.7 0.. 1 4. 1 4. 0 0. 1 4,,4 4. 3 0,.1 4..8 4. 7 0..1 5.3 5.2 0.1 6. 0 5. 8 0. 2 62.0 67. 3 72. 9 78. 2 85..5 93.2 107. 2 119 .5 142,. 1 19 53.6 41.0 5.3 7.3 59..7 45. 7 5, 6 8. 1 66. 1 50. 6 6. 7 6. 8 72. 9 55. 3 8.,1 9. 5 80. 1 61 .3 6. 8 10. 0 88.7 68. 0 9.9 10.9 101 .8 77. 3 12. 1 12. 4 114,.4 89, 3 11..7 13..4 134 .4 107 .7 12,.6 14,.1 20 21 22 23 - - 8.2 7. 5 6. 6 5. 1 5. 2 4.2 5. 2 4. 8 1 .0 , 4,. 4 24 25 0.2 0. 2 0. 2 0. 2 0. 2 0.2 0. 3 0, 3 2. 3 26 189.3 197. 0 206. 6 223. 0 233. 2 259.0 260. 4 298. 5 327. 8 27 182.9 194. 0 206. 2 223. 6 237. 2 268.0 296. 6 322. 6 362. 1 28 (3) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of structures. (4) E q u i t y in the Farm Credit S y s t e m . (5) Lines 4 * 7 * n o n r e s i d e n t i a l plant from line 5. Data .9 .2 3 .4 June 1995 Farm and Nonfarm N o n c o r p o r a t e B u s i n e s s Farm and N o n f a r m N o n c o r p o r a t e B u s i n e s s B . 1 0 2 - B . 1 0 3 B a l a n c e Sheets of U n i n c o r p o r a t e d Nonf inane lal B u s i n e s s Year-End O u t s t a n d i n g s 1972 Year-End Outstandings 19 1974 1975 19 76 B . 1 0 2 Farm B u s i n e s s 1977 (1) 1 383 .0 468 .7 519 .3 579 .1 659 .3 732 .5 861 .2 994,.1 1097 .9 Total a s s e t s 2 370 .6 455 .5 5 0 5 .5 5 6 4 .3 643 . 0 714 .4 841 . 0 971 ,8 1073 .7 Tangible 3 4 5 6 147 28 64 55 .8 .3 .2 .3 181 . 1 30..8 72 . 4 78 . 0 196 34 87 74 209 36 97 75 219 .3 39 .7 107 . 4 72 .2 243 44 120 75 278 50 136 92 309. 9 55., 0 156. 9 97. 9 339,.7 60..3 174,.5 104,.9 7 222 .7 274 . 3 309 .4 354 . 9 423 . 7 474.2 8 12,.5 14 .8 16 .3 9 10 11 12 6.. 9 5,.5 4. ,7 0. 8 13,.3 . 1 .2 .6 .3 13,.8 7., 1 6 .2 . 5. 2 0., 9 6 .9 , 6.. 9 5..8 1 .. 1 .5 .3 .1 .5 6 .9 7,.8 6 .5 1..4 6 .9 9,.3 7. 7 1..6 . 2 .5 .6 .2 . 7 . 0 .6 . 1 5 6 2 .3 662., 0 734.. 0 18,. 1 20,.2 22. 2 24. 2 7,. 0 11 . 1 9, 2 1..9 7,. 1 13.. 0 10,.9 2.. 1 7. 3 14. 9 12. 4 2. 5 7., 4 16..8 13., 7 3..1 13 62..7 72.. 1 80.. 7 90. 5 102,. 0 117..9 136. 2 162. 0 178.,8 14 15 16 17 56..8 35. 4 14. 3 7. 1 65. 4 39. 8 17 .2 8. 4 73. 3 44., 9 18. 2 1 0 . 2 82., 1 49. 9 20 .2 12., 1 92..2 55. 23.2 13. 5 105..9 63. 9 25. 7 16. 3 122. 2 72. 8 23.2 21 .2 145. 7 86. 8 31 .0 27. 9 161 .5 97. 5 31 .6 32. 4 18 5. 9 6 .7 7. 4 3, 4 9.,8 12. 0 14. 0 16. 3 17. 4 19 20 21 320. 3 303. 17. 2 396 .6 374. 8 21 .8 438. 6 413. 4 25. 2 488. 6 459 . 0 29 .6 557 .3 £21 .9 35., 4 614. 6 574. 2 40. 4 724. 9 675. 6 49. 3 832. 1 7 73 .3 58. 2 919. 0 853. 5 65. 5 22 285. 0 343. 4 387 .4 440 .0 515. 9 577. 6 679. 6 794. 1 880. 4 1 assets 2 R e p r o d u c i b l e assets Residential structures N o n r s s . plant 3 e q u i p m e n t Inventories 3 4 5 6 Land 7 Total f i n a n c i a l assets 3 C h e c k a b l e d e p o s i t s 8 curr. 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 G S E s (3) 9 10 11 12 Total l i a b i l i t i e s Credit market instruments Mor tgages Bank loans n.e.c. Other loans 14 15 16 17 Trade debt Net worth N o n c o r p e r ate Corporate Memo: Total real 19 20 21 estate (2) (1) Includes corporate and n o n c o r p o r a t e (2) Lir es 4 • 7 * n o n r e s i d e n t i a l plant from line 5. farms. B . 1 0 3 Non f arm N o n c o r p o r a t e B u s i n e s s 1 543 . 0 630 . 4 713 . 9 769 .3 343.8 957.3 1115 .4 1330 . 0 1550.6 Total 2 496 .9 574 . 0 652 . 7 706 . 2 771.9 369.0 1006 .5 1199 . 4 1411.1 Tangible 3 4 5 6 392 224 134 24 439 257 154 27 497 288 179 29 536 313 196 27 581 . 0 343.7 209.3 27 . 9 654.3 392.3 232.5 29.5 753 453 267 32 . 9 .3 .6 . 0 . 1 .8 . 0 . 3 . 4 . 4 .5 . 6 .5 . 1 . 1 .3 .3 .3 .3 . 6 893 547 310 35 .8 .3 .5 .5 1033.4 638.4 359. 7 35.3 assets assets R e p r o d u c i b l e assets Residential structures N o n r e s . Plant S equipment Inventories 3 4 5 6 7 114,. 0 135 . 0 155 . 3 169 . 7 190.9 214.8 252 . 7 305,.6 377 .7 8 46 . 1 56 . 3 61 . 2 63 . 1 71.9 88. 3 . 9 1 08. 130 . 6 139.5 9 10 11 12 13 14 12..5 4..6 1 .. 1 3 .6 3., 0 8..8 16 . 9 6. 2 1. 2 3. 4 3 .3 11 . 1 17 3 7 .8 1 .2 , 3.. 1 3.. 4 13,. 3 17 .8 8,. 1 . 1 .3 2. 7 3 .3 14,. 6 19.8 9.5 1 .5 2.5 4.2 15.8 22.4 12.1 2.4 2.0 5.5 20.0 25.. 6 15. 5 3. 2 1 .5 8.. 1 26.. 0 28 .3 21 ,3 2,.8 0,.9 11 . ,0 30,.2 31 . 1 24.2 2.6 0.2 12.2 32.5 C h e c k a b l e deposits S curr. Time d e p o s i t s Treasury securities C o n s u m e r credit Mortgages Trade credit 9 10 11 12 13 14 15 16 17 18 12. 5 8. 3 0. 2 4. 0 14 .2 9 .2 0 ., 2 4 .7 , 15.. 1 10, 2 0. 2 4. 7 15,.4 1 1.5 , 0.,3 3., 7 18.6 13.5 0.4 4.3 23. 9 16 . 0 0 . 4 7.4 29.. 1 18. 9 0 .5 9. 6 36.. 1 21 .8 0. 6 13., 7 36.8 24.3 0.3 11.7 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 GSEs (4) Other 15 16 17 18 19 173. 8 21 1 .2 . 251 .4 268. 6 294.1 328.2 379. 1 449. 3 515.1 20 21 22 23 161 .9 133. 0 13. 7 15. 3 183..6 137 .2 28..6 17..8 218.. 1 161 .8 36. 0 20. 3 233. 0 172. 3 37. 7 23. 0 253.7 185.6 40.4 27.7 282.2 202.8 46.4 33.0 326. 6 226. 8 59. 6 40. 1 385. 5 264. 8 72. 8 47. 8 440.2 310.5 75.3 54.5 24 25 2. 5 5. 1 4. 0 17. 7 5. 5 20. 1 6. 6 20 .6 7.8 22.3 8.9 23.8 1 0 .0 25. 6 12. 8 31 .7 26 4. 3 6 .0 7. 5 8. 5 10.4 13.3 17. 0 27 369. 2 419. 1 462. 5 500. 7 549.7 629.1 736. 3 28 423. 3 491 .5 556. 7 605. 5 664.6 751.0 871 . 0 Land Total Total (3) financial 7 assets liabilities 19 C r e d i t market i n s t r u m e n t s Mortgages Bank loans n . e . c . Other loans 20 21 22 23 15.3 36.4 Taxes payable Trade debt 24 25 19. 3 23.1 Miscellaneous 880. 7 1035.5 1041 . 0 liabilities Net worth Memo: 1234.3 Total real estate in billions o* dollars 26 27 (5) (3) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) E q u i t y in the Farm Credit S y s t e m . (5) Lines 4 * 7 * n o n r e s i d e n t i a l plant from line 5. Data are 8 28 June 6, 1995 F a r m and N o n f a r m N o n c o r p o r a t e B u s i n e s s Year-End Farm Outstandings Vear-End O u t s t a n d i n g s 1981 1982 1983 1984 1985 B . 1 0 2 Farm B u s i n e s s 1 Total and N o n f a r m N o n c o r p o r a t e Business B . 1 0 2 - B . 1 0 3 B a l a n c e S h e e t s of Unincorpor ated N o n f i n a n c i a l B u s i n e s s 2 Q assets 2 Tangible assets 1986 1987 1988 1989 (1) 1114.,9 1088. 2 1086.,8 992.5 912 .2 862,.9 893, 3 907 .4 932.. 1 1 1088.,8 1 060. 2 1057. 4 962.7 878..9 825. 3 853.,8 8 6 4 .7 887 .2 2 3 4 5 6 3 4 5 6 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 351 ..7 63..4 186., 9 ,4 101 . 356. 3 64. 3 188.,4 103..6 355..0 64..5 187. 3 103. 2 349.9 65. 0 184.0 100.9 340..6 65,.5 178. 5 96.,6 .5 331 , 66..8 174,.2 90..5 330. 9 69..3 170.. 7 90..9 .4 331 , 68..1 167,.9 95,.4 335 .7 70..2 169.. 1 96. 3 7 Land 737., 1 703..9 702. 4 551 .,5 8 Total 9 10 11 12 financial assets C h e c k a b l e deposits 8 curr. 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 G S E s (3) 13 T o t a l liabilities 14 15 16 17 C r e d i t market i n s t r u m e n t s Mortgages Bank loans n . e . c . Other loans 18 Trade debt 19 Net w o r t h Noncorporate 20 Corporate 21 Memo: 22 Total r e a l estate 612.9 538. 3 493..8 522..9 533..2 26.,1 28..0 29., 4 29.7 33. 3 37,.6 39. 5 42..8 45.. 0 8 7..6 18..5 14,.8 3. 7 7..8 20..2 16.. 1 4.. 1 8., 1 ,3 21 . 17., 1 4.,2 8.3 21.4 17.1 4.3 9, . 0 24. 3 20,.4 4,. 0 10,. 1 27 .6 24 .2 3,.4 9 .9 29 .6 26., 7 3,, 0 10..4 32.. 4 29,. 4 3. 0 10 .5 34..5 32 . 4 2..2 9 10 11 12 196 .2 203,.6 207.. 0 205.6 188..5 168 . 1 155,.3 145..5 146.. 6 13 177..8 107, 2 32,.9 37,.6 184,.5 111 , .3 36,. 1 37.. 0 188., 4 113.. 7 38.,9 35., 7 187.9 112.4 39. 9 35.6 173.4 105,.9 35 .5 32 . I 156,. 0 95 .2 31 .2 . 29 .6 144,, 4 87 , .7 29,. 1 .6 27 . 133..7 83 . 0 29 .8 21 . ,0 134,. 4 80..5 30..8 23. 1 14 15 16 17 17.6 15,. 1 12 . 1 1 0,,9 11 .8 12. 3 18 . 9 761 , 703..5 58..5 735..5 724., 3 61 , 2 19 20 21 18,, 4 19,. 1 18..6 918..7 852., 7 66., 0 384,,6 820.,9 63., 7 879.9 816.1 63.8 786., 9 730.,8 56 . 723.7 6 71.6 52.2 assets assets 3 4 5 6 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 7 Land 8 Total (3) financial 7 38. 0 682.1 55.8 farms. B. 10 3 N o n f a r m N o n c o r p o r a t e 1 Total 694.8 644.0 50.8 (2) (11 I n c l u d e s corporate and n o n c o r p o r a t e (2) Lines 4 • 7 + n o n r e s i d e n t i a l plant from line 5. 2 Tangible 7 assets Business 1771 .8 1893.. 1 2034. 9 2244. 2 2480..3 2673 .4 2835 .6 3009. 9 3208.. 1 1 1587,. 9 1703. 3 1312. 3 1973. 6 2170. 5 2329 ., 0 2472.. 0 2635,, 7 2776 .5 2 1158 708 415 34 1210..8 731 ..8 444..9 34., 1 1252., 758.. 459., 34., 1322. 2 7 94.. 6 490 .2 37 . 1410..5 842 . 6 523.,3 39 . 6 1496. 2 892. 3 565. 5 38.. 4 1595..8 953 . 0 600 . .8 42 . 0 16 58.. 0 963. 5 649 . .2 45.,3 1752,. 1 1010., 7 692 2 49.,3 3 4 5 6 .8 . 7 .3 .8 1 1 6 4 429 . 1 492 .5 560..2 651 . ,5 759..9 932..7 876..3 947,.8 1 024.4 7 183 . 9 189..8 222 .6 270. 5 310.. 4 349 .5 363..6 404., 2 431 .7 3 81 .8 103. 9 8. 4 9 10 11 12 13 14 C h e c k a b l e deposits 8 curr , Time d e p o s i t s Treasury securities Consumer credit Mortgages Trade credit 33 .3 34 .7 3 .3 36 .8 38.. 1 3. 2 45.. 0 51 , 7 6. ,0 49 . .8 65.. 1 5. 5 61 .3 76 . .6 5..8 67 . .3 87 . .8 6., 9 69 , .8 86.. 0 6..5 77 ,5 , 95,.3 7,. 0 20 .3 . 37 . 0 25.. 0 45.. 0 29,. 3 52,, 6 39. 3 59. 3 44 , 0 63..8 46., 7 70 .5 41 . 1 79..2 43..3 91 .2 . 41 . 1 99 , 0 9 10 11 12 13 14 15 16 17 18 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 G S E s (4) Other 55 .3 . 3 26 , 0 .8 , 28 . 1 41 .8 . 28.. 4 0 .. 9 12 .5 38,. 1 23,.8 0..3 13..5 51 . , 6 34. 3 0 .. 9 15.. 9 59 , . 0 39 .6 , 0 .8 , 18,.5 70 .3 45., 0 . 0 .8 24,.5 . 0 81 , 51 . 7 0 .7 , 28.5 39 . .3 56,.6 0.. 7 32,.5 97,.5 60 . ,4 0 .8 , 36.. 3 15 16 17 18 1 024.. 0 19 Total liabilities 1132., 2 1218,. 3 1299,.7 1361 . 7 19 . 9 .8 .5 .5 958,. 9 744 . 1 110..5 104,. 4 1 033,. 9 804,.8 116,. 6 112..5 1 096..8 850..6 121 . 0 125 .2 1136 883 123 129 .9 . 9 .6 .4 20 21 22 23 18..2 51 .5 . 21 .6 56 . 9 23 . 3 61 . , 1 23,. 9 68 . 6 26 .8 72 .8 31 . 4 79 .8 24 25 77.. 4 85 .7 88,.9 91 . ,9 103 .3 113 . 6 26 570,. 1 657.. 4 745..4 883..6 481 333 85 62 552..8 409 , .6 76.. 0 67, 3 625.. 0 472 .9 75,.5 76..5 736..6 556.. 7 92 . 4 87,.5 C r e d i t market i n s t r u m e n t s Mortgages Bank loans n.e.c. O t h e r loans 24 25 T a x e s payable Trade debt 13 .7 41 .6 , 15..2 45,.3 17,. 1 45,.8 26 Miscellaneous liabilities 33 . 1 44 . 0 57 .5 1201 .7 1235 . 7 1289 .5 1360 .6 1456 . 9 1546 . .2 1617,.3 1710,.2 1846 .5 27 1390 .5 1495 .3 1595 .6 1740 .5 1920 .8 2062,. 7 2188 .9 2300 .5 2450 . 0 28 27 Net worth Memo: 28 Total real estate (5) . 7 .8 .5 .5 859 665 98 95 20 21 22 23 (3) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) E q u i t y in the Farm Credit S y s t e m . (5) Lines 4 + 7 + n o n r e s i d e n t i a l plant from line 5. Data are in billions of dollars June 8, 1995 Farm and Nonfarm N o n c o r p o r a t e B u s i n e s s Farm and N o n f a r m N o n c o r p o r a t e B u s i n e s s B . 1 0 2 - B . 1 0 3 B a l a n c e S h e e t s of U n i n c o r p o r a t e d Nonfinancial Business Year-End O u t s t a n d i n g s 1990 Vear-End 1991 1992 1993 1994 B . 1 0 2 Farm B u s i n e s s 1 950. 4 944.. 0 960. 5 990.. 0 1012., 0 2 902.. 9 894., 4 907.. 0 933..4 951, 6 3 4 5 6 336., 72.. 169.. 94., 331 . 0 73..9 166..6 90..5 335., 0 75. 3 163.,8 95..8 340. 2 77. 9 164. 7 97 .6 346. 3 80.. 1 167. 9 98.,4 7 566 .5 563. 5 572.. 1 4 4 3 7 593. 2 60S..3 8 47.. 4 49. 6 53.,4 56..6 60.,4 9 10 11 12 10.,9 36..6 34,. 6 2.. 0 11 .3 . 37..8 35,,6 2 .2 13..6 39..8 37.. 7 2.. 1 15. 3 41 , .3 39..1 2 .2 17,. 0 43,, 4 41 , . 1 2 .4 13 148..2 147..9 149..2 14 15 16 17 135 .4 78.. 9 32 . 9 23 .6 135.. 0 79..3 34..6 21 . 1 18 12.. 7 13.. 0 13..2 19 20 21 802.. 2 738.. 4 63..8 796 . 1 731 . 7 64.. 4 22 743.. 0 739.. 0 136.. 0 80.. 4 34 .7 20.. 9 152..5 138..3 81 . .2 36..8 20 .3 , Outstandings (1) 155,.9 140,.7 82..5 38 . 7 19..5 Total assets Tangible 1 assets 2 R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equ:pment Inventories Land Total 7 f i n a n c i a l assets 8 C h e c k a b l e d e p o s i t s & curr. 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 GSEs (3) Total 3 4 5 6 9 10 11 12 13 liabilities C r e d i t m a r k e t instruments Mortgages Bank loans n.e.c. Otner loans 14 15 16 17 Trade 19 debt 14..2 15..2 811 ..3 744..6 66..6 837..4 767 .5 69.. 9 856 , . 1 783 .8 72..3 Net worth Noncorporate Corporate 747.. 3 771 .6 787 . 0 Memo: Total real estate 19 20 21 (2) (1) Includes corporate and n o n c o r p o r a t e (2) Lines 4 • 7 * n o n r e s i d e n t i a l plant from line 5. 22 farms. B.1Q3 Nonfarm Noncorporate Business 1 3162.. 0 3060 .2 2981 ., 7 2963 .8 3068,.7 Total 2 2717..4 2620. 3 25 27,,5 2503..4 2595.. 1 Tangible 3 4 5 6 1813,.5 1 044.. 4 718.. 3 50 . .8 1841 .. 1 067.. 724.. 50.. 1879..5 1103.. 1 726,. 0 50,.5 1932.. 1 1155..3 744 .8 32 . 0 2044,.2 .8 1206 , 781 ,3 56 , . 1 7 6 1 0 7 903..9 778..6 647 .9 571 . .3 550.. 9 8 444 . 7 439..9 454.. 2 460 . .5 473..6 9 10 11 12 13 14 81 .3 104.. 7 9, .4 81 . 4 101 .3 9, 3 86,.8 100., 4 9..9 88 . .8 97.. 4 11 .3 . 92 .5 97.. 3 12..8 38., 4 104., 0 34,.8 101 . 1 33.. 1 1 08.. 1 28 . 4 117.. 0 15 16 17 18 107., 66., 0.. 40 , . 112. 2 68..6 0..6 43,. 0 116.. 0 72..5 0.. 6 42.. 9 117.. 6 75,. 2 0 .8 . 41 , .6 0 4 6 0 1325..2 1317 . 6 1347,.2 1 074.. 1 845,.9 107,.6 120,.6 1 050,.3 821 , .8 105,.4 123 . 1 1 063,.8 813,.2 117,.3 133..3 24 25 32,. 0 .9 81 , 32 .5 77 . 9 33.. 1 80 . 0 33,.8 87 , .3 26 123,. 0 129,.2 138.. 0 146 . 1 27 1778,. 1 1704,.3 2172 . 0 7 financial assets 8 15 16 17 18 1355,. 9 2188..4 (3) 5 6 M i s c e l l a n e o u s assets Insurance '?;ei*/ables E q u i t y in GSEs (4) Other 1116,.4 882,.4 112,. 2 121 .8 , . 0 2281 , Land Total 3 119,. 4 78,.5 0 .9 , 40 . 0 1147,. 0 893,. 1 .5 126 , 127,.4 2381 .3 R e p r o d u c i b l e assets Residential structures N o n r e s . slant 3 equipment Inventor :es 25.. 0 126 .6 1383,.9 28 2 9 10 11 12 13 14 19 1646,.3 1 assets C h e c k a b l e deposits 3 curr. Time deposits Treasury securities Consumer credit Mortgages Trade credit 20 21 22 23 1656..5 assets Total 19 liabilities Credit market instruments Mortgages Bank loans n.e.c. Other loans 20 21 22 23 34,.6 93..9 Taxes payable Trade deot 24 25 154.. 9 Miscellaneous 1721 , .5 2215,.7 liabilities 27 Net worth Memo: Total real 26 estate (5) (3) E s t i m a t e based on d i f f e r e n c e b e t w e e n market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (4) Equity in the Farm Credit S y s t e m . (5) Lines 4 * 7 * n o n r s s i d e n t lal plant from line 5. 28 June 8, 1995 Nonfinancial Corporations Nonfinancial Corporations 32 Sheet of N o n f a r m Nonf inancial C o r p o r a t e Business Year-End Outstandings Year-End O u t s t a n d i n g s 1 Total assets 2 Tangible assets (current c o s t ) 3 4 5 6 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 7 Land 8 Total (1) financial assets 9 10 11 12 13 14 15 16 17 16 19 20 Liquid assets C h e c k a b l e dep. 8 c u r r e n c y Small time 3 savings dep. Large time deposits Meney market fund shares S e c u r i t y RPs F o r e i g n deoosits U.S. g o v e r n m e n t s e c u r i t i e s Treasury Agency Tax-exempt securities C o m m e r c i a l paper 21 22 23 24 25 26 27 28 29 Consumer 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 U.S. dir. invest. abr. (2) Insur ancs r e c e i v a b l e s E a u i t y in GSEs (3) Inv. in finance co. subs. Other 1945 1946 205.6 242.9 287.2 313.6 136.8 175.7 211 .3 232.2 115.6 0.9 84.6 30. 0 146.5 1.1 103.3 42. 1 174.8 1.3 124.6 48.9 194.9 1.4 139.2 54.2 198.0 1.6 147.3 49.1 1947 30 Total 35 36 37 38 39 40 41 c 2 liabilities Credit m a r k e t instruments T a x - e x e m p t aeot (4) C o r p o r a t e bonds (2) Mor tgages Bark loans n.e.c. C o m m e r c i a l paoer Other loans 43 Net worth 1950 1951 321.3 369.6 408.7 428.6 446.6 1 236.0 267.5 298.7 313.1 328.0 2 225.1 1.8 162.7 60.6 252.0 1.9 180.0 70.2 265.1 1.9 191.9 71.3 278.2 2.0 203. 1 73.1 3 4 5 6 1952 1953 21.2 29.2 36.6 37 .3 38.1 42.4 46.6 47.9 49.9 7 67.2 75.9 81.4 85.3 102.1 110.1 115.5 118.5 8 38.7 19.0 0.2 0.7 33.6 19.5 0.2 0.7 35.2 21.4 0.2 0.7 36.3 21.9 0.2 0.7 39.3 22.9 0 . 2 0.7 43.8 24.2 0.2 0.7 46.4 25.9 0.2 0.7 46.3 26.6 9.2 0.7 48. 0 26.6 0.2 0.7 18.5 18.5 0. 1 12.8 12.8 0.1 12.3 12.3 12.9 12.9 14.7 14.7 0.1 17.9 17.9 0.1 18.7 18. 7 0.1 17.6 17.6 0.1 19.2 19.2 0.4 0.1 0.5 0.2 0.5 0.3 0.7 0.1 0.8 0.1 0.8 0.2 9 10 11 12 13 14 15 16 17 18 19 20 0.3 0.3 2.8 3.3 19.8 7.5 7.0 0.4 22.6 7.7 7.0 0.7 4.1 4.9 27.6 9 . 1 8.1 1.0 29.6 10.6 9.3 1 .2 0.1 5.5 28.6 11.9 10.4 1.4 0. 1 1 . 0 0.2 6.6 7.2 7.1 7.3 38.6 13.0 11.4 1 .4 42. 0 14.5 12.6 1.5 45.9 16.3 14.3 1.7 45.0 18.2 15.7 1.8 0.2 0.3 0.4 0.7 21 22 23 24 25 26 27 28 29 70.8 80.0 92.8 101.6 1C0.9 123.8 137.5 143.2 148.0 30 44.6 50.2 57.5 63.8 65.5 72.3 80. 7 87.2 91.4 31 23.9 8.8 24.9 10.0 27 . 7 11.5 32. 0 12.8 34.9 13.5 36.5 14.8 39.8 15.5 44.5 16.0 48.0 16.7 33 34 12.5 0. 1 2.8 15.5 0.2 2.6 16.1 0.2 2.7 14.2 0 . 2 2.6 17.9 0.2 2.9 22.1 0.3 3.1 22.9 0.3 3.5 22.4 0.4 3.9 35 36 37 8. 1 20. 1 1.5 1.5 10.3 23.4 1.6 1.6 11.1 25. 0 1 . 7 1.7 8.8 24. 7 1.9 1.9 16.1 33. 1 2.3 2.3 20.5 33.6 2.6 2.6 17.4 35.3 3.2 2.8 0.4 18.0 35.0 3.5 3.1 0.5 38 39 40 41 42 8.9 0. 1 2.9 Taxes o a y a b l e Trade aeot Miscellaneous liabilities Fgn. direct invest, in US Pen. fund contr. payable 1949 68.8 " 31 32 33 34 1948 10.1 14.6 1 .5 1.5 - 134.7 162.9 194.5 212.0 220.4 245.8 271.3 285. 4 298.6 43 78. 7 98.4 118.3 125.2 128.3 140.0 153.0 160.2 166.6 44 Memo: 44 Total real estate (5) Market value of e q u i t i e s , 45 including c o r p . f a r m e q u i t i e s 46 D e b t - n e t worth ratio (31/43) 47 D e b t - e q u i t i e s ratio (31/45) Ratio of market value 48 to net worth (45/43) Tangibles and net worth 49 Total assets Land 56 Net worth 83.2 84.9 83.9 92.2 116.6 138.3 137.9 134.9 45 30.8% 6 0.3% 29.5% 67.6% 30.0% 76 . 0% 29 . 6% 7 0.9% 29. 4% 61.9% 29 . 7% 58. 3% 30 . 5% 63.2% 30.6% 6 7.7% 46 47 65. 1% 51 . 0% 43.6% 39 .5% 41 .8% 47. 4% 50.9% 48. 3% 45.1% 48 171.5 189.2 217.1 240.3 251.7 290 .1 322.2 342.3 361.9 49 102.7 95.2 0.8 68.2 26.3 122. 0 113.8 75.4 37.5 141.2 132.5 0.9 87.0 44.6 158.9 150.0 1 . 0 166.4 157.4 1 . 1 111.0 45.3 188.1 178.8 1. 2 122.5 55. 1 212. 1 202.5 1.3 136.4 64.8 226.8 217. 4 1.3 150. 1 66.0 243.3 233.4 1.4 164.6 67.4 50 51 52 53 54 7.5 8.3 8.7 9.4 9.9 100.6 109.2 44.3% 45.9% on h i s t o r i c a l (6) 50 Tangible assets 51 R e p r o d u c i b l e assets 52 Residential structures 53 N o n r e s . plant S e q u i p m e n t 54 Inventories 55 87.8 33. 1% 50.8% (7) 0.8 100.1 48.9 9.0 9.0 9.3 9.6 Memo: 57 Total real estate 5 8 D e b t - n e t worth (8) ratio (31/56) 46.2% (1) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . '2) Through 1992, corporate bonds include net Issues by N e t h e r l a n d s Ant illean financial s u b s i d i a r i e s , and U.S. direct investment abroad e x c l u d e s net inflows from those oond issues. (3) E q u i t y in the federal N a t i o n a l M o r t g a g e A s s o c i a t i o n . (4) Industrial revenue bonds. Issued by state and local g o v e r n m e n t s to finance p r i v a t e investment and secured in interest and p r i n c i p a l by the industrial user of the funds. (5) Lines 4 + 7 n o n r e s i d e n t i a l plant from line 5. (6) Lines 3 + 50. (7) Lines 49 - 30. (8) Lines 52 • 55 n o n r e s i d e n t i a l plant from line 53. Data are in b i l l i o n s of d o l l a r s . 61.1 65.4 43.4% 43.4 % 71. 1 43.7% 76.6 83.4 57 43.8% 42.7% 58 June 8, 1995 Nonf Inane iai C o r p o r a t i o n s N o n f i n a n e iai C o r p o r a t i o n s B . 1 0 4 B a l a n c e S h e e t of N o n f a r m N o n f i n a n e i a l C o r p o r a t e Business Year-End 33 Outstandings Year-End Outstandings 1954 1955 1 460.3 509 .5 557.3 587.6 607.6 641.2 657.4 683.7 715.2 Total 2 336.3 368.0 410.8 436.6 445.1 463.5 476.8 490.5 509.9 Tangible 3 4 5 6 286.3 2.0 212.5 71.7 313.3 2.1 231.7 79.4 349.0 2.2 259 . 3 87.5 370.8 2.3 279.2 89.3 377.3 2.6 287.9 36.8 395.3 2.9 299. 7 92.7 406 .6 3.2 307.8 95.6 416.7 3.6 315.2 97.8 433.2 4.3 326.1 102.8 7 50. 0 54.7 61.8 8 124. 0 141.4 146.4 151 . 0 9 10 11 12 13 14 15 16 17 18 19 20 48.4 28.3 0.3 0.8 53.4 29.3 0.2 0.8 48.9 29. 0 0.2 0.8 48.5 29 . 0 0.2 0.8 51 . 0 30.1 0.5 1 .4 56.2 29.2 0.4 1 . 1 51.4 28.2 0.7 2.3 54.8 31.7 1 . 0 3.1 57.9 34.6 1.2 3.8 0.2 17.5 17.5 0 . 1 21 .6 21 . 3 0.3 1 . 2 0.2 0. 1 17.1 16.7 0 . 4 1 . 3 0.3 0.1 16.4 15.6 0.8 1.5 0 . 4 0 . 1 16.7 16 . 1 0.6 2.0 0.2 0.1 22.8 21 .6 1. 2 1.8 0.7 0.1 16.9 15.8 1.1 2.4 0.8 0. 2 15.3 14.1 1.2 2.4 1 . 1 0.8 13.6 12.3 1.3 2.7 1.3 9 . 6 10.4 0 . 2 92.3 44. 0 35.8 5.7 0.1 21 22 23 24 25 26 27 28 29 1 . 0 0.3 7 . 7 3.3 - - 48. 4 19.6 17.0 1 . 9 58. 0 21 .6 18.7 2. 0 0.7 0.9 65.8 67.8 68.3 70.2 73.8 76.7 162.5 177.6 180.5 193.2 205.3 8.6 8.7 8.3 - - 63.8 25. 1 21 . 7 2.4 65.4 23. 4 24.5 3.0 71.3 30 . 9 26 . 4 3.5 77 . 4 34.0 23.3 4.1 0. 1 0 . 9 1 . 1 1 . 0 0.9 10.1 9 . 6 32.3 37.2 30. 7 4.7 0. 1 38.3 40.5 33.4 5.1 0.1 1.8 1.9 2.4 30 151.4 173.2 135.5 194.6 203.6 220 . 3 230 .5 243.0 258.5 31 32 33 34 95. 5 104.3 113.7 123.1 130.6 139.2 147.7 155.3 156.0 51.5 17.7 54.6 19.3 58. 0 20.3 64.1 21.5 69.7 23.4 72.8 24.4 76.2 25.0 30.6 26.7 84.6 29.3 35 36 37 21 . 7 0.5 4. 0 25. 6 0. 4 4.0 30 . 7 0.4 4.2 31 . 9 0 . 4 5.2 31.5 0 . 7 5.2 35.3 0.3 6.4 37.4 0.8 8.3 38.3 1 . 1 8.6 41 . 9 1 . 2 9 . 0 38 39 40 41 42 14.3 37.3 3.9 3.3 0 . 6 18.4 46 . 1 4.3 3.6 0.6 16.3 50 . 3 4.7 4.0 0.8 14.6 51 .3 5.1 4.2 0 . 9 12.0 55.5 5.5 4.5 1 . 0 14.2 60.8 6.1 4.9 1.2 12.6 63.7 6.5 5.2 1.4 13.3 67.5 7 . 3 5.4 1.6 14.4 70.6 7.6 5.7 1.9 assets 1 assets (current c o s t ) R e p r o d u c i b l e assets Residential structures N o n r e s . plant 5 e q u i p m e n t Inventories 3 4 5 6 Land 7 Total (1) financial assets Consumer 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 U.S. dir. invest, abr. (2) Insurance r e c e i v a b l e s E q u i t y in 3SEs (3) Inv. in finance co. subs. Other Total Bank loans n . e . c . C o m m e r c i a l paper Other loans T a x e s payable Trade debt Miscellaneous liabilities Fgn. direct invest, in US Pen. fund contr. payaole 336.3 371 .8 393.0 404.0 420.9 426.8 440 . 7 456 .7 Net 44 170.8 185. 4 206 . 1 218.2 224.3 230.0 234.8 242.6 250.5 Total real estate 35 36 37 38 39 40 41 42 ' 5) 45 202.6 254.2 275.9 232.9 331 . 0 349.3 345. 1 420.4 46 47 30.9% 47. 1% 31 . 0% 41 . 0% 3 0.5% 41.1% 31.3% 52.3% 32. 3% 39.4% 33. 0% 39.8% 34. 6% 42.3% 35 . 2% 36.9% 36 . 3% 43.7% 48 65.5% 75.5% 74. 1% 59 . 2% 81 . 9% 82. 9% 8 0.3% 95.3% 49 377.9 416.9 448.0 473.6 498.3 536.5 560.0 592.5 628.0 Total assets 50 51 52 53 54 253. 9 243.8 1 . 4 176.9 65.5 275.5 264.5 1.5 190.1 73.0 301.5 289.3 1.6 207.2 80.6 322.6 309.7 1 . 7 225.6 82.3 336.2 321 .8 2.0 237.9 81.9 358.9 342.9 2.3 252.2 88.4 379.5 362. 0 2.6 267.8 91.6 399.3 379.8 3.1 281 .6 95.0 422.7 401 .3 3.7 297.0 100.6 Tangible assets R e p r o d u c i b l e assets Residential structures N o n r e s . plant & e q u i p m e n t Inventories D e b t - n e t worth ratio (31/43) D e b t - e q u i t i e s ratio (31/45) Ratio of market value 83.1% to net worth (45/43) 46 47 net w 55 10.1 11.0 12.2 12.9 14.5 15.9 17.4 19.5 21.4 56 226.5 243.8 262.5 279 .0 295.1 316.2 329.5 349.5 369.5 Net worth (6) Land 50 51 52 53 54 55 (7) 56 57 89.4 96.4 106. 1 115.3 123.5 131.5 140.3 149.3 158.2 Total real estate 58 42. 1% 42. 7% 43.2% 44. 1% 44. 2% 44. 0% 44.8% 44.4% 44.9% D e b t - n e t worth (8) ratio 57 (31/56) (1) Estimate based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) Through 1992, corporate bonds include net issues by N e t h e r l a n d s Ant illean financial s u b s i d i a r i e s , and U.S. direct investment abroad excludes net inflows from those bond issues. (3) Equity in the federal N a t i o n a l M o r t g a g e A s s o c i a t i o n . (4) Industrial revenue bonds. Issued by state and local g o v e r n m e n t s to finance private investment and secured in interest and p r i n c i p a l by the industrial user of the funds. (5) Lines 4 * 7 + n o n r e s i d e n t i a l plant from line 5. (6) Lines 8 + 50. (7) Lines 49 - 30. (8) Lines 5 2 + 5 5 + n o n r e s i d e n t i a l plant from line 53. in billions of dollars. 31 32 33 34 wortn M a r k e t value of e q u i t i e s , 379. 7 including corp.farm equities 21 22 23 24 25 26 27 28 29 liabilities C r e d i t market instruments T a x - e x e m p t debt (4) C o r o o r a t e bonds (2) Mor tgages 308. 9 and 8 Liquid assets 9 C h e c k a b l e dep. 3 currency 10 Small time S savings dep. 11 Large time d e p o s i t s 12 M o n e y market fund shares 13 S e c u r i t y RPs 14 F o r e i g n deposits 15 U.S. g o v e r n m e n t s e c u r i t i e s 16 Treasury 17 Agency 18 Tax-exempt securities 19 C o m m e r c i a l paper 20 43 Tangibles 2 58 June 8, 1995 Menfinancial Corporations N o n f i n a n e ial C o r p o r a t i o n s 2 ^ B . 1 0 4 B a l a n c e Sheet of N o n f a r m 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 Year-End Outstandings Year-End O u t s t a n d i n g s 1963 1 Total assets 2 Tangible assets (current cost) 3 4 5 6 Reproducible assets Residential structures M o n r e s . plant & e q u i p m e n t Inventor ies 7 Land 8 Total 1964 1965 752.3 797. 5 869. 5 948. 3 1250,. 0 1354.. 1 1484,. 4 1 531 .5 562.,1 606,,5 670 .4 725,. 1 798.. 1 886 ,5 968..7 1 057,.2 2 451. 7 5. 1 337. 9 108. 7 477. 6 6., 0 355. 8 115..8 515. 7 6. 9 383. 6 125. 2 573. 2 7 .9 422.9 142. 3 621 . 1 8..6 46 0 ., 0 152 . 4 684 . 10.. 508.. 165.. 756. 5 12,.5 561..8 182. 3 824,. 14,. 619 . 190.. 79. 8 84. 5 220. 8 235. 5 (1) financial assets 90.,8 1966 97. 2 263.. 0 277. 7 1967 1 020..8 144..7 161 . , 2 7 385..4 427,. 2 8 9 10 11 12 13 14 15 16 17 18 19 20 63.. 1 34 .8 2.. 4 7..3 0. 7 16. 7 15. 1 1 .6 3. 8 1. 0 0.,3 1 .. 1 15. 5 14. 5 1 .. 0 3.. 7 1. 7 0. 6 0. 8 13. 8 12. 5 1 .2 4. 6 1 ,4 . 0. 9 0. 9 12. 1 11 .1 1. 0 3. 6 2. 9 0,. 7 , 1 9,.6 8,.6 1 .. 0 3..3 4,. 0 21 22 23 24 25 26 27 28 29 C o n s u m e r credit M u t u a l fund shares Trade c r e d i t M i s c e l l a n e o u s assets U.S. dir. invest. abr. (2) Insurance receivables E q u i t y in G S E s (3/ Inv. in f i n a n c e co. subs. Ctner 11 .3 0. 2 99 .1 48.8 39. 1 6. 0 0 .1 12..3 0. 3 107., 6 53., 6 42.,6 6., 4 0,, 1 13. 4 3 .4 133. 3 69 .2 55. 9 7 .3 0. 1 13..7 0,.6 141 , .6 76.. 7 61 .8 , 8,. 0 0 .. 1 31 32 33 34 35 36 37 38 39 40 41 42 lisoilities Credit market instruments T a x - e x e m p t debt (4) C o r p o r a t e b o n d s (2) Mortgages 6 .7 . 68 .6 37..5 2 .3 6..8 69., 0 43.. 1 0. 9 2..7 69..5 44,. 1 1 .3 . 4.. 0 78 .8 42.. 6 2. 4 7. 1 1 .1 . 1 .6 . 10.. 4 9.. 0 1 .. 4 3..8 5.. 1 3, 3 1 .. 2 7. 3 5.,6 1 ,. 7 2. 8 7 .6 0 ., 2 0..8 7. 5 6..3 1 .2 2,, 2 9.. 4 1 ., 1 1 .2 10,. 0 9. 1 0,. 9 3. 2 11 .3 , 13..8 0..8 160.. 1 85..6 67 ,4 8.,3 0 .. 2 13. 9 0. 7 183., 0 96 .8 75., 4 9., 9 0 .2 14..5 0 .. 6 191..6 1 09 ., 2 85.. 4 13..3 0..3 17.. 0 0 .. 7 204.. 1 .6 126 . 96.. 9 11 . 9 0. 11 ,2 12..6 17. 5 21 22 23 24 25 26 27 28 29 9..2 279. 4 301 . 6 337.. 0 372. 1 . 4 401 , 450 . .8 505.. 6 544,. 0 537. 8 30 177. 0 191 . , 0 211 ..3 236. 0 260,. 9 29 0 ., 6 324 , 8 356..5 88. 4 32. 5 92 . 4 36.. 1 97 .3 39.. 1 107. 5 42. 9 122 45.. 0 135.. 0 49 . , 4 147.. 0 52., 3 166. 3 56 . .2 384., 0 0. 1 185. 6 60. 3 31 32 33 34 45. 3 1 ,. 0 9. 8 49 . 9 1 ., 1 , 11 -4 60,.7 0.,8 13.'4 69 .1 1 .6 14. 9 75,. 6 3.. 0 15,. 0 85,. 4 .2 16 .5 98..3 5., 4 21 , . 4 103.,6 7.. 1 22..8 107. 7 6 .2 24., 1 35 36 37 15., 7 78. 5 8.. 1 6. 0 2. 2 16,. 2 35,. 7 8,.8 6 .2 2 .5 13. 3 97 . 7 .6 9, 6.. 7 2..9 17 .4 103. 2 10. 5 7. 1 3. 4 13,.2 115.. 6 1 1.8 . 7,.8 4,. 0 14.. 3 132,.6 13,. 2 8,.6 4 .6 12.. 153, 15.. 9. 5. 1 0,. 0 160 . 2 17. 3 11 , . 1 6.,2 13.. 1 172,. 1 18., 7 11 .5 . 7 .2 38 39 40 41 42 472., 9 495 . 9 532,.5 576. 0 619 . 3 676,.3 744 .5 310.. 1 896 .. 6 43 258.8 272.2 292.5 316.6 338.9 374 . 6 421 . 0 467 . 4 522. 4 44 445.6 523.8 574.9 516.8 662.8 751 .2 629.8 630.5 742.7 45 37 . 4% 39 . 7% 38.5% 36 . 4% 39 . 6% 36. 7% 40 . 9% 45.6% 42.17. 39.3% 42. 9% 38. 6% 43.6% 51 .5% 44. 0% 56.5% 42.3% 51 . 6% 46 47 89 . 7% 107.0% Ill . 07. 84.5% 7 7.8% 82.3% 48 1093 . 3 1162 . 9 1251 . 9 49 324 . 7 780 .7 13 . 1 567 . 2 200 . 4 50 51 52 53 54 Bank loans n . e . c . C o m m e r c i a l paper O t h e r loans Taxes payable T r a d e deot Miscellaneous liabilities F g n . direct invest, in US Pen. fund c o n t r . payable 43 Net worth 3 4 5 6 130.. 0 61 .3 32. 4 2. 1 6. 5 30 Total 896,. 1 16 .6 678 .3 200 . 7 363..5 63. 2 33., 1 2. 2 6..8 5. 8 0 1 9 1 114.. 0 61 . , 7 32.. 7 1 .7 5.. 0 5..4 1 4 7 0 1971 323 .9 61. 3 33. 4 1 .4 4. 3 4..6 1127,. 1 1970 104.. 0 Liquid a s s e t s C h e c k a b l e dep. 3 c u r r e n c y S m a l l time S savings dep. L a r g e time d e p o s i t s M o n e y m a r k e t fund shares 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 Treasury Agency Tax-exempt securities C o m m e r c i a l caper 3. 6 1969 295..7 9 10 11 12 13 14 15 16 17 18 19 20 13. 2 0. 3 120. 9 65. 53. 2 6 .8 0-. 1 1968 6 1 7 4 Memo: 44 T o t a l real estate (5) M a r k e t value of e q u i t i e s , including c o r p . f a r m e q u i t i e s 45 46 D e b t - n e t worth ratio (31/43) 47 D e b t - e q u i t i e s ratio (31/45) R a t i o of market value 48 to net worth (45/43) Tangibles 49 T o t a l and net worth assets on h i s t o r i c a l - c o s t (6) 50 T a n g i b l e assets R e p r o d u c i b l e assets 51 Residential structures 52 N o n r e s . plant S equipment 53 54 Inventor ies 55 9 4. 2% Land (7) 107. 9% basis: 669 . 1 712 .2 733 . 1 849 . 3 911 . 4 994 . 1 448 .3 424 .7 4 .6 313 .3 106 .8 476 . 7 451 . 3 5 .4 332 .8 113 . 1 520 . 1 491 . 9 6 .2 359 . 1 126 . 6 571 . 6 540 .9 6. 9 391 . 1 142 .8 615 . 7 582 .6 7 .5 422 . 0 153 . 1 665 630 8 455 166 23 . 6 56 Net worth 105.6% 389 . 7 25 . 4 28 .2 30 . 7 477 .2 . . . . . 1 0 6 4 0 729 690 10 493 186 . . . . . 7 1 1 6 4 33 . 1 35 .2 39 . 7 510 . 0 543 .3 587 . 7 410 .6 446 . 1 167 .6 177 . 7 191 . 1 205 . 9 220 . 4 236 . 0 256 .3 45. 4% 46.5% 47. 3% 49 .4% 51 .1% 53. 4% 55. 2% 777 .5 735 .6 11 .5 530 .8 193 .3 44 . 0 55 664 . 1 56 275 .5 294 . 9 57 57.15% 57 .3% 58 41 .9 618 . 9 Memo: 57 Total real estate 5 8 D e b t - n e t worth (8) ratio (31/56) (1) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) Through 1992, 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 a n financial s u b s i d i a r i e s , and U.S. direct Investment abroad e x c l u d e s net inflows from those bond issues. (3) E q u i t y in the F e d e r a l N a t i o n a l M o r t g a g e A s s o c i a t i o n . (4) I n d u s t r i a l revenue bends. Issued by state and local g o v e r n m e n t s to finance private investment and secured in interest and p r i n c i p a l by the industrial user of the funds. (5) L i n e s 4 * 7 * n o n r e s i d e n t i a l plant from line 5. (6) Lines 3 • 50. (7) Lines 49 - 30. (6) Lines 52 * 55 + n o n r e s i d e n t i a l plant from line 53. Data are in b i l l i o n s of dollars. June 3, 1995 Nonfinancial Corporations Nonfinanciai Corporations B.104 Balance Sheet of N o n f a r m Nonf inane ial C o r p o r a t e B u s i n e s s 35 Year-End O u t s t a n d i n g s 1972 Year-End Outstandings 1973 1 1664,.6 1916 .5 2197 .9 2418 .9 2654 .3 2966 .6 3393 . 0 3926 .8 4454 .7 Total a s s e t s 2 1168,.5 1342 . 0 1621 .5 1792 . 0 1965 .6 2186 .8 2485 . 2 2863 . 7 3 2 7 8 .4 Tangible 1131 .7 19 .3 8 5 2 .6 259.8 1375 20 1023 331 .3 .5 .5 . .3 1516,.4 21 .4 , 1157 .8 337 .2 1660 .6 22 .6 126 2 .8 375 .2 1845 .2 24.6 1403 .7 416 .9 2097 26 1589 480 2417 29 1818 569 2770 32 2094 644 988.. 0 18.. 0 752.. 7 217. 3 3 4 5 6 .0 . 9 .5 .6 .6 . 7 . 7 .2 .5 . 2 .2 . 0 1 assets (current cost) R e p r o d u c i b l e assets Residential structures N o n r e s . plant & equipment Inventories 2 3 4 5 6 7 180., 4 210 .3 246 .2 275,.5 305 . 0 341 .6 388 .2 446 . 0 8 496.. 1 5 7 4 .6 576,.5 626,.9 688.7 779 .8 907 .9 1063 . 1 . 0 .3 . 1 .5 105,.4 47,.8 5. 1 15,. 4 125, 2 53..9 5..6 16 . .8 139,.8 56,. 4 6. 1 18,.3 2. 7 2. 2 7. 9 6. 9 1 .0 4. 2 14. 2 11 .3 3 .3 4,.5 2 .5 2. 0 4,. 0 14,.9 5 .5 4. 9 5,.6 2. 6 3.. 0 4., 7 16..5 4., 7 5..8 14. 3 12.. 1 2. 2 4. 5 19.. 6 7,. 0 7 ., 4 16 .4 , 14,.3 2 .2 3..4 24.. 7 143 .6 59..2 7,.3 22 . 0 0,.2 8 .3 8,. 7 10,. 0 8,.2 1 .8 , 3..5 24 .5 162 .3 57 . 7 7. 7 23 . 4 0,.6 16,.2 16,.7 11 .5 , 9,. 0 2,.5 3.. 7 24..8 170,.8 50 .3 8,.3 25 . 1 3,. 0 18,.8 21 .8 , 13,. 1 11 .9 . 1 .3 , 3.. 7 26..7 196 .5 57 . 1 9.4 28..5 7.. 0 28 .4 24,.6 18.. 7 17,. 0 1 ,. 7 3,.5 19.. 4 Liquid a s s e t s 9 C h e c k a b l e dep. 8 currency 10 S m a l l time S savings dep. 11 Large time deposits 12 Money market fund shares 13 S e c u r i t y RPs 14 Foreign deposits 15 U.S. g o v e r n m e n t securities 16 Treasury 17 Agency 18 Tax-exempt securities 19 C o m m e r c i a l oaper 20 17. 7 0. 7 230. 5 159. 2 121 .4 13. 7 0 .4 19..2 0 .8 269.,3 184,. 4 139..5 15..7 0..4 20..3 0. 8 245,.5 204,. 4 159. 3 17. 8 0..4 28..8 26. 9 21 . ,2 0.,9 251 .. 1 2:8.,6 182. 6 20.. 0 0. 4 2. 0 23. 5 23,.5 1 ., 0 269., 4 255,.1 202., 4 23.. 4 . 0 ,5 3.. 0 25..8 24..4 0..8 305.. 9 305.. 1 242..5 27.,8 0..5 4., 0 30. 3 26,.5 0.. 6 361 .,5 356,, 9 279., 0 33., 4 0. 6 5. 3 38. 6 28..3 1 ., 1 430 , 7 432..2 331 , 2 38.. 9 0 ,6 . 6., 4 55. 0 29.. 4 1 .5 . 478.. 1 470., 7 334. 3 43. 6 0. 6 7. 5 34. 7 C o n s u m e r credit M u t u a l 'und shares Trade c r e d i t M i s c e l l a n e o u s assets U.S. dir. invest, abr. (2) Insurance r e c e i v a b l e s E q u i t y in 3SEs (3) Inv. in f i n a n c e co. subs. Other 9 1 0 11 12 13 14 15 16 17 18 19 20 88.. 0 44. 9 3., 0 8. 9 21 22 23 24 25 26 27 28 29 101 46 4 12 23. 7 508 . 0 1176 .2 30 650 .8 761 .8 766. 2 792. 6 867,.5 971 . 4 1274.. 9 1415. 6 31 32 33 34 420. 4 0. 6 197. 8 66. 9 482.,7 2., 4 206 ., 9 94., 9 538.. 0 4. 1 226 .6 94. 2 556. 5 6 .7 253. 8 98. 1 594..3 9 .2 . 276..6 102.. 6 665..8 17.. 4 299. 5 114. 2 738. 5 25.. 0 320. 6 125. 6 820 .6 35. 0 337. 9 126. 5 885. 6 45. 9 365. 6 113. 5 35 36 37 120. 5 7. 0 27. 7 137.. 1 8., 4 33. 0 159. 4 12. 5 41 ,2 143. 5 9. 6 44. 8 140., 1 11 , . 0 54. 8 154. 9 12. 3 67. 0 175. 1 15. 5 76 .6 204. 3 24. 5 92. 4 230. 3 23. 0 102. 3 38 39 40 41 42 15. 5 194. 4 20. 5 12. 1 8. 4 19. 3 232. 7 27 .1 17. 3 9 .8 24. 5 170. 5 33. 2 21 .8 11 .* 22. 3 176 .7 37. 2 23. 9 13. 2 27. 8 185. 6 59 .8 44. 4 15. 4 29. 1 207. 1 69 .4 51 .5 17. 9 34. 1 258. 9 84. 3 63. 5 20. 8 41 .0 309 .3 103. 6 79 .4 24. 2 43. 9 347 .7 1 38.4 110. 2 28. 43 1013. 7 1 154. 7 1431 . 7 1626. 3 1786. 9 1 995. 1 2277. 3 2651 .3 3039. i 44 593. 1 684. 6 800 . 0 888. 1 969 .2 1 074.7 1218. 7 1 400 .7 1604. 6 1115.8 Land Total Total (1) 7 f i n a n c i a l assets liacilities 21 22 23 24 25 26 27 28 29 30 C r e d i t m a r k e t instruments T a x - e x e m p t deot (4) C o r p o r a t e oonds (2) Mortgages Bank loans n.e.c. C o m m e r c i a l oaper Other loans 31 32 33 34 35 36 37 Taxes oayable Trade deot Miscellaneous liabilities Fgn. direct invest, in US Pen. fund contr. payable : 8 Net worth 38 39 40 41 42 43 Memo : 46 47 Total real estate (5) Market value of e q u i t i e s , 1255.8 including c o r p . f a r m equities 846.5 664.4 457.3 635.1 840.5 740.4 781.9 929.1 41.4% 49.6% 41.8% 72.6% 37.5% 117.6% 34.2% 67.6% 33.2% 70.7% 33.3% 89.9% 32.4% 94.4% 30.9% 88.3% 83.5% 57.5% 31.9% 39.0% 47.0% 37.1% 34.3% 35.0% 1572 .9 1701 .5 1814 . 4 ' 1978 . 6 2201 . 9 2506.4 2881.7 3188 . 3 Total (6) 49 1125 . 0 1069 .3 13 . 1 736 .7 319 .5 1187 .5 1131 . 0 13 . 0 802 . 1 315 . 9 1289 .8 1231 .2 13 . 0 875 . 7 342 .5 1422 . 1 1360 .2 13 .2 970 .2 376 . 9 1598.5 1532.7 13.4 1087.7 431.6 1818.6 1748.5 13.8 1229.6 505.1 2012 . 1 1936 . 0 14 . 1 1378 .8 543 . 0 T a n g i b l e assets R e p r o d u c i b l e assets Residential structures N o n r e s . plant S equipment Inventor ies 50 51 52 53 54 Tangibles 49 1392 . 9 50 51 52 53 54 896.8 849 . 4 13 . 1 610 .6 225 .7 55 47 .5 56 742 . 1 998 . 3 945 .6 13 .2 6 6 8 .6 263 . 9 52 . 7 55 .8 56 .5 58 . 6 811 . 1 935 .3 1021 .3 1111 . 1 61 .8 1230 . 4 29.1% 70.5% D e D t - n e t worth ratio (31/43) D e b t - e q u i t i e s ratio (31/45) Ratio of market value 41.3% to net worth (45/43) and net worth 65.8 70.1 76 . 1 1390.6 1606.8 1772 . 7 on h i s t o r i c a l - c o s t assets basis: Land Net worth 46 47 55 (7) 56 Memo : 57 316 . 1 343 . 6 373 . 4 400 .8 431 .4 466 . 4 513.6 576.6 651 . 0 Total real estate 58 56. 6% 59.5% 57.5% 54.-4% 53.'4% 54. IX 53.1% 51 . 0% 49.9% D e b t - n e t worth (8) ratio 57 (31/56) (1) E s t i m a t e based on difference between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) Through 1992, corporate bonds include net Issues by N e t h e r l a n d s A n t i l l e a n financial s u b s i d i a r i e s , and U.S. direct investment aor o ad excludes net inflows from those bond issues. (3) Equity in the F e d e r a l N a t i o n a l M o r t g a g e A s s o c i a t i o n . (4) I n d u s t r i a l revenue bonds. Issued by state and local g o v e r n m e n t s to finance private investment and secured in interest and principal by the industrial user of the funds. (5) Lines 4 + 7 + n o n r e s i d e n t i a l plant from line 5. (6) Lines 8 + 50. (7) Lines 49 - 30. (8) Lines 52 «• 55 + n o n r e s i d e n t i a l plant from line 53. Data are in billions of d o l l a r s . 58 June 8, 1995 N o n f i n a n e ia1 C o r p o r a t i o n s N o n f Inane ial C o r p o r a t i o n s B.104 Balance 36 Year-End Sheet of N o n f a r m Nonfinancial Corporate Business Outstandings Year-End 1988 1 Total assets 2 Tangible 3 4 5 6 (current cost) Reproducible assets Residential structures Nonres. plant 3 equipment Inventories 7 8 assets Land Total (1) financial assets Outstandings 1989 4 9 6 5 .9 5 2 0 8 .2 5 5 0 9 .9 5 8 2 8 .7 6 1 2 1 .9 6 4 4 4 .6 6 6 2 0 .9 7 3 1 3 .4 7 7 0 7 .3 1 3 6 7 4 .2 3860 . 1 3 9 7 9 .4 4 2 1 5 .4 4399 . 0 4 5 4 5 .7 4 7 5 0 .8 5 0 5 6 .7 5 3 3 4 .4 2 3103 33 2369 699 3239 34 2525 679 3320 35 2594 690 3 5 1 3 .5 36..3 2716,. 6 760,.5 3658 37 2852 768 3771 39 2972 758 3937 41 3077 817 4181 41 3256 883 4393 43 3414 936 3 4 5 6 . 1 .8 .4 .9 . 7 .5 .9 .4 . 1 .3 .8 . 0 5 7 1 .2 620.. 4 1291 .6 1348,- 1 1530 . 4 6 5 9 .4 .2 . 9 .2 . 1 .2 .6 . 7 .9 .9 701 , 7 4 0 .8 7 7 4 .5 1613,.3 1 7 2 2 .9 1 8 9 8 .9 . 0 .8 .5 .7 8 1 3 .7 2070 . 1 .8 .7 . 9 . 1 875 . 0 2 2 5 6 .7 .9 .4 .5 .0 9 4 0 .4 7 2372 . 9 8 9 10 11 12 13 14 15 16 17 18 19 26 Liquid assets C h e c k a b l e dep. 8 currency Small time 3 savings dep. Large 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 Security RPs Foreign deposits U.S. government securities Treasury Agency Tax-exempt securities C o m m e r c i a l paper 2 2 0 .4 47 .4 11 .9 . 35,.9 18,.4 33 .4 23.. 0 20,,2 18..5 1 .8 , 3.,5 26 , .8 2 7 7 .7 55. 3 14..7 44,,4 19,. 0 42,, 1 31. 5 30. 5 28. 7 1 .8 3. 5 36 .7 415..7 76.. 0 17,.5 53., 1 11..2 48..4 125., 4 38. 5 36,. 7 1 .8 . 4. 2 41 ., 4 459 , ,4 105., 1 18..5 55.. 9 16., 1 48..8 123., 4 42., 7 41., 0 1. 7 4., 1 44..8 508 . 1 131 .6 19,. 9 60,. 4 14,.5 55,.3 134. 1 41 , .5 39.. 9 1..6 4,.9 45 3 5 9 4 .5 1 5 3 .6 21,.2 66 .3 18,. 1 65 .3 162,.4 58,.7 57 .2 1 .5 . 8..0 40,.9 643 . 0 172 . 4 21 .9 69 .7 18,.9 66 .1 174,.4 6 2 .3 60.. 9 1,.3 10..5 46,.6 673,.6 170 .9 24..4 81 ..2 15,.6 74, 3 188..5 59..6 58,.3 1,.3 12,.0 47,. 0 7 4 0 .5 1 8 4 .8 23 . 9 79 . 4 16 .2 70 .3 2 3 6 .6 6 5 .6 6 3 .9 1 .7 11 .4 52,.4 9 10 1 1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Consumer credit M u t u a l fund shares "rade credit M i s c e l l a n e o u s assets U . S . d i r . i n v e s t , a b r . (2) Insurance receivables E q u i t y in 3 S E s (3) Inv. in f i n a n c e c o . s u b s . Other 30 , ,3 1 .6 . 502, 2 5 3 7 ., 0 402,.9 47 3 0. 6 8,,6 77 ..6 30..3 3., 1 486 .6 549. 9 39 3 ,8 50. 0 0. 7 9. 7 95. 6 35.. 4 4..5 537., 6 537. 3 362.. 0 53..5 0,, 7 10. 8 90 .2 38., 4 7 .2 5 8 4 ., 7 523.,6 373., 9 53.. 6 0.. 7 11. 9 78. 4 4 2 .5 10..8 624.. 0 537,.5 394,. 0 62..8 0 .8 , 16,.7 63,. 2 47,. 0 15,.7 649,.1 592..6 419,.6 81 . .6 0..9 18,.7 71 , .8 54,, 0 12..8 6 9 4 ..3 666.. 0 479 . 1 92..4 1 .3 12. 5 8 0 .8 60,,9 10 , .6 766,.3 745. 3 486..9 102. 5 1. 3 9. 2 145. 4 63..8 9,.5 8 0 9 ..9 749,. 1 504..4 117,.2 1, 3 8..8 117,. 4 21 22 23 24 25 26 27 28 29 30 T o t a l 31 32 33 34 liabilities Credit market instruments T a x - e x a m s t dec t (4) C o r p o r a t e b o n d s (2) Mortgages 35 36 37 Bank loans n.e.c . C o m m e r c i a l paper Otner loans 38 39 43 41 <*2 Taxes payable T^ade debt Miscellaneous liabilities F g n . d i r e c t i n v e s t . in US P e n . fund c o i t r . p a y a b l e 43 Net worth 1 5 8 7 ,,8 1671. 7 1824.. 0 2383. 3 2 3 1 2 .. 6 2 6 0 6 .3 2 9 0 9 ..7 3245. 6 3537. 1 30 998. 6 59. 3 3 9 0 .3 116. 3 1 063.5 74. 5 421 . 0 76 .4 1167.. 4 33. 9 447 .0 97. 1 1368. 9 1 34. 4 4 9 5 .. 1 1 35.5 1542..5 127 . 0 578. 2 96 .5 1774., 1 117.. 1 705..4 128. 3 1969. 9 116. 2 7 8 4 .. 1 191 .4 2 1 6 9 .0 116. 4 887. 2 135. 5 2365. 7 115. 5 961 . 1 203. 9 31 32 33 34 261 . 7 42. 7 128. 3 318. 5 37. 6 135. 5 340 .9 36 .8 161 .8 391 . 1 58. 5 214. 3 4 2 4 ., 1 72. 2 2 4 4 ..5 473. 7 62. 9 286. 2 482. 4 73. 8 322. 0 519. 3 85. 7 374. 8 553. 5 107. 1 424. 5 35 36 37 39 . 9 376. 4 173. 0 140. 2 32. 7 35. 6 381 . 3 191. 3 153. 3 38. 0 38. 6 418. 3 199. 7 158. 3 41 .3 42. 2 452. 0 220. 7 179. 2 41 .5 39., 4 8 6 ., 245., 195.. 50., 42.,3 699 ., 7 289. 8 235. 2 54. 6 47 .9 539. 6 3 5 2 ., 4 295. 6 56. 8 49 .6 598. 7 423. 3 366. 9 61 .4 46 .5 629. 3 495. 7 423- 3 72. 4 38 39 40 41 42 3378. 1 3536 .6 3635. 9 3744.9 3809. 3 3338. 2 3 9 1 1 .2 4 0 6 7 .8 4170. 1 43 1309. 8 1942. 3 2 0 1 9 .4 2133. 5 2248. 5 2327. 0 2424. 3 2593. 5 2747. 9 44 1133.6 1274.3 2243.1 2510.8 0 3 3 3 1 Memo: 44 Total real estate (5) M a r k e t v a l u e of e q u i t i e s , 45 including corp.farm equities 46 D e b t - n e t w o r t h r a t i o C 31 ''43) 47 D e o t - e q u i t i e s r a t i o ( 3 1 / 4 5 ) R a t i o of m a r k e t v a l u e 48 to n e t w o r t h ( 4 5 / 4 3 ) Tangibles 49 Total and net assets worth on 55 57 f6 ) (7) (3) Data 2136.0 3173.3 45 36.5% 9 4.5% 4 0.4% 85.8% 46.2% 8 3 . 0% 5 0 . 3% 87.3% 53.3% 86 . 3% 5 6 . 7% 74.5% 46 47 33.5% 36 - 0% 41 .6% 38. 6% 4 7 . 1% 55.6% 57.3% 61 . 7% 76.0% 48 4076 . 6 4380.5 4 6 7 9 .3 4995 . 9 5 3 3 6 .7 5 7 3 5 .8 6023.8 49 2546 2448 15 1829 603 2767.2 2661.7 16.1 1938.6 656.9 2956 26 38 17 2155 666 3097 2973 17 2282 672 3266.6 3134.2 18.8 2389.5 725.9 3479 3329 19 2504 805 3651.0 3485.1 20.3 2630.3 834.5 50 51 52 53 54 basis: 2232 2147 14 1549 584 . 7 .8 .4 .4 . 0 85 . 0 worth (7) real 58 Debt-net (3) (4) 1797.2 31.6% 75. 9% 3 5 2 4 .3 Land Total 1448.6 30 . 3% 8 3 . 4% histcrical-cost (6) 50 T a n g i b l e assets 51 Reproducible assets 52 Residential structures 53 Nonres. plant 3 equipment 54 Inventories 56 N e t 1536.7 29.5% 8 8 . 0% 1 9 3 6 .6 estate worth (8) ratio (31/56) 3 7 2 5 .5 2387 2296 14 1702 579 . 4 .3 . 7 .6 . 0 91 . 1 2 0 6 3 .8 . 1 .6 .4 .8 . 4 97 .5 105.6 2 2 5 2 .5 2296.7 are in b i l l i o n s of dollars . 0 . 1 .9 .5 .7 . 1 . 2 .5 .3 .4 1 2 3 .9 132.4 149 .9 165.9 55 2 3 6 6 .6 2 3 8 9 .6 2427.0 2 4 9 0 .2 2486.7 56 1212.0 1 2 8 5 .3 1360.8 57 8 7 . 0% 9 5 . 1% 58 117 . 7 7 4 3 .7 835 . 7 906 . 0 990.3 1087 . 0 1 1 5 2 .9 51 .5% 51.!5% 51.8% 59.6% 6 5 . 1% 74.2% E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n m a r k e t v a l u e of r e a l e s t a t e and c u r r e n t - c o s t v a l u e o* s t r u c t u r e s . T h r o u g h 1 9 9 2 , 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 An t i l l e a n f i n a n c i a l s u b s i d i a r i e s , and U . S . d i r e c t i n v e s t m e n t a b r o a d e x c l u d e s net i n f l o w s f r o m t h o s e b o n d i s s u e s . E q u i t y in the F e d e r a l N a t i o n a l M o r t g a g e A s s o c i a t i o n . Industrial revenue bonds. I s s u e d by s t a t e and l o c a l g o v e m m e n ts to f i n a n c e o r i v a t e i n v e s t m e n t and s e c u r e d in i n t e r e s t and p r i n c i p a l by tne i n d u s t r i a l user of the f u n d s . Lines 4 + 7 + nonresidential plant f r o m l i n e 5. Lines 3 + 50. L i n e s 49 - 30. Lines 5 2 + 5 5 + nonresidential plant from line 53. .3 . 7 . 0 . 6 . 0 81 . 1% June 8, If95 Nonfinaneiil Corporations NonfIninc lal Corporations B.104 Balance Sheet of Nonferm Nonfinanslal Corporate Business 37 Year-End Outstandings 1990 Year-End Outstandings 1991 1992 1995 1994 1 7814.6 7585 .0 7 4 7 2 .6 7660 5 8097.1 Total assets \ 2 5325.9 5042 .6 4 8 1 8 .9 4 9 6 4 .6 5229.7 Tangible assets (current cost) 2 S 4 5 6 4573.1 44.4 3563.8 964.9 4620 .2 45 .0 3624 .3 950 .9 4 7 0 8 .6 45 .7 3 7 9 4 .3 958 .6 4 8 7 4 .6 46 .3 3839 .5 988 .8 5136.4 47.5 4022.5 1066.4 7 752.7 4 2 2 .4 110 .3 90 .0 93.3 8 2488.7 2542 .4 2 6 5 3 .8 2716 .0 2667.5 9 10 11 12 13 14 15 16 17 18 19 20 782.5 192.9 23.0 76.2 26.3 64.3 277.3 58 5 56.0 2.5 10.1 53.9 801 .2 201 .2 24 .4 80 .0 31 .5 6 2 .8 268 . 0 68 .5 64 .5 4 .1 11 .7 S3 .0 811 .1 190 .8 23 .6 73 3 47 .3 56 .4 259 .6 93 .2 87 .1 6 .1 12 .3 54 .6 8 1 2 .6 193 .9 24 .7 76 .4 44 .8 47 .2 258 .3 95 .2 66 .4 6 .9 14 .4 58 .0 657.2 195.4 26.7 75.6 47.6 46.1 282.5 114.6 104.8 10.0 13.3 55.1 Liquid assets 9 C h e c k a b l e dep. 8 currency 10 S m a l l time 8 savings dep. 11 Large time deposits 12 M o n e y m a r k e t fund shares IS S e c u r i t y RPs 14 Foreign deposits 15 U.S. government s e c u r i t i e s 16 Treasury 17 Agency 18 Tax-exempt securities 19 C o m m e r c i a l oaoer 20 21 22 23 24 25 26 27 28 29 67.1 8.2 825.1 805.8 559.0 119.6 1.3 15.0 110.9 63 .0 10 .9 8 2 2 .6 8 6 4 .9 584, 3 123 .4 1,.8 17. 2 118.. 1 65 .4 15 .6 8 5 4 .0 907 .7 590,.6 130 .5 1 .9 18.9 165 .8 80 .4 22 .4 86 7 .4 932,.9 611,.6 135.3 1,.9 21,.4 162..7 90.3 20.3 942.4 957.3 666.9 140.6 2.0 25.5 122.4 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 U . S . dir. invest, abr. \2) Insurance r e c e i v a b l e s E q u i t y in GSEs (3) Inv. in finance co. subs. Other 30 3735.6 3723..7 3825, 2 3913., 9 '1152.2 31 32 33 34 2669.2 115.2 1008.2 192.6 2458. 0 114.0 1086. 9 193,,1 2500..4 114.,0 1154. 4 165. 6 2560. 7 113. 9 1229. 6 163.7 2680.6 112.4 1251.7 157.5 35 36 37 555.6 116.9 481.3 530. 5 98. 5 435. 0 518.5 107.. 1 440.9 515. 2 117. 8 420. 4 562.6 139.2 457.4 38 39 63 61 42 41 .5 658.6 536.1 468.3 67.7 33. 3 670. 8 561 .6 672. 9 88. 7 43. 5 700, 9 583. 2 686. 6 96. 6 42. 5 727. 0 583. 6 677. 2 106. 4 65.3 799.5 626.6 522.1 104.4 43 4199.3 3861. 3 3667. 5 3766. 7 3944.9 44 2629.2 2328. I 2050. 8 2093. 4 2077.2 R e p r o d u c i b l e assets 5 Residential structures 4 N o n r e s . plant & equipment 5 Inventories Land Total Total & (1) 7 f i n a n c i a l assets liabilities a 21 22 23 24 25 26 27 28 29 30 C r e d i t market instruments T a x - e x e m p t debt (4) C o r p o r a t e bonds (2) Mortgages Bank loans n.e.c. C o m m e r c i a l paper Other loans 31 32 33 34 35 36 37 Taxes payable Trade debt M i s c e l l a n e o u s 1iabilit ies F g n . direct invest. in US P e n . fund c o n t r . p a y a b l e Net worth 38 39 40 41 42 43 Total real estate (5) 44 Market value of e q u i t i e s , including c o r p . f a r m equities 45 3010.6 6125. 7 6609. 2 5127. 0 5003.0 46 47 60. OX 82.OX 63.6X 59.5X 68. SX 56. 2X 67.9X 69.9X 67. 9X 53. SX 68 73. 2X 106.8X 126.3X 136.IX 126.6X 69 6304.9 6683.9 6717. 9 6956. 0 7351.1 Total assets (6) 69 SO 51 52 53 54 3816.2 3633.4 20.7 2765.7 867.0 3961 .6 3756. 2 21. 2 2872. 4 860. 6 4064. 2 3868. 1 21. 5 2970. 9 875. 8 6236. 0 6036. 7 21. 7 3096. 4 916. 6 4683.7 4273.7 22.0 3272.2 979.5 Tangible assets R e p r o d u c i b l e assets Residential structures N o n r e s . plant 8 equipment Inventories 50 51 52 53 54 D e b t - n e t worth ratio (31/43) D e b t - e q u i t i e s ratio (31/65) R a t i o of market value to net worth (65/43) Tangibles and net worth on h i s t o r i c a l - c o s t 55 182.8 187. 4 196. 1 203. 3 210.0 56 2599.6 2760. 2 2892. 8 3060. 1 3198.9 Net 57 1645.5 1501.0 1547.5 1591.3 1639.8 T o t a l real estate 58 94.9X 89.3X 86 6% 8 6 2% 83.6X 55 (7) D e b t - n e t worth 56 (8) ratio 57 (31/56) (1) E s t i m a t e based on d i f f e r e n c e between m a r k e t value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) Through 1992, corporate bonds include net issues by N e t h e r l a n d s A n t i i l e a n financial s u b s i d i a r i e s , and U.S. direct investment abroad excludes net inflows from those bond issues. (3) E q u i t y in the F e d e r a l N a t i o n a l M o r t g a g e A s s o c i a t i o n . (4) Industrial revenue b o n d s . Issued by state and local g o v e r n m e n t s to finance srlvate Investment and secured in interest and p r i n c i p a l by the industrial user of the f u n d s . (5) Lines 4 • 7 • n o n r e s i d e n t i a l plant from line 5. (6) Lines 8 • 50. (7) L i n e s 49 - 30. (8) Lines 52 • 55 n o n r e s i d e n t i a l plant from line 53. Data are in billions of d o l l a r s . 68 besis: Land worth 65 46 47 58 June 8, 1995 Private Financial Institutions Private F i n a n c i a l B1S< 38 B a l a n c e Sheet of Private F i n a n c i a l Year-End Outstandings 1 Total assets 2 T a n g i b l e assets Residential structures 3 N o n r e s . plant 3 equipment 4 Land (1) 5 6 Total f i n a n c i a l assets Institutions Institutions Year-End O u t s t a n d i n g s 1945 1946 1947 1946 1949 1950 1951 1952 1953 241 .0 239 .0 251 .9 262 .8 278 .0 299 .6 320 .9 349.3 372.6 1 2 .9 3 .2 3 .5 3 .6 3 .9 4 .3 4 .8 5.0 5.2 2 .4 0 .5 2 .5 0 .6 2 .6 0 .9 2 .8 0 .9 2 .9 1 .0 3 .2 1 .1 3 .5 1 .3 3.7 1.3 4.0 1.3 2 3 5 236 .1 235 .8 248 .4 259 .1 274 .1 2 9 5 .5 316 .1 344.3 367.4 6 7.2 0.9 7 6 9 10 11 12 7 6 9 10 11 12 C h e c k a b l e dep. and c u r r e n c y S m a l l time and savings dep. Large time d e p o s i t s M o n e y market fund shares F e d . funds 3 s e c u r i t y RPs Foreign deposits 4 .0 0 .1 4 .7 0 .1 5 .1 0 .1 5 .2 0 .1 5 .5 0 .1 6 .1 0 .1 6 .7 0 .3 6.9 0.8 13 14 15 16 17 18 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 Tax-exempt securities C o r p o r a t e 3 foreign bonds 5 .5 199 .5 133 .4 0 .9 6 3 18 .1 5 .7 200 .3 119 .0 1 .0 6 .6 20 .2 6 3 210 .4 111 .9 1 .1 7 .6 23 .9 6 .7 217 .7 102 .6 2 .0 8 .6 28 .7 9 .4 2 3 2 .1 106 .1 2 .1 10 .2 32 .2 11 .0 248 .5 99 .5 1 .9 12 .5 34 .6 12 .0 264 .7 96 .1 1 .6 14 .1 36 .2 13.9 266.1 96.2 2.2 15.8 43.2 15.2 308.0 96.6 3.7 17.6 46.3 13 14 15 16 17 18 - - 19 20 21 22 23 24 Mortgages C o n s u m e r credit Bank loans n.e.c. Open market paper O t h e r leans C u s t . liab. on a c c e p t a n c e s 21 .2 3 .4 11 .3 0 2 4 .6 0, 2 26 .2 5 .7 16 .4 0 .3 4 .5 0 .2 32 .0 8 .3 20,.6 0..4 4 3 0. 3 38 .0 10 .5 22 .0 0 .3 4 .6 0. 3 43 .2 12.9 20 .3 0 .3 4 5 0,.3 5 2 .2 16 .2 26 .0 0 .4 4 .9 0..4 59 .9 16 .9 31 .3 0 .5 5 .3 0 .5 67.5 20.6 33.4 0.6 5.6 0.5 75.6 24.5 32.1 0.6 6.2 0.6 19 20 21 22 23 24 25 26 27 26 S e c u r i t y credit Vault cash 3 c o m m . bank res. T r a d e credit M i s c e l l a n e o u s finan. assets 6 .1 17..8 3. 4 2 6 3 .8 18. 2 0 5 2 .5 2 7 20..1 0. 6 3,, 0 2 .9 22 .5 0, 7 3 4 3 .7 18. 6 0..7 4..0 4 .5 19..9 0..7 4.. 7 4 22 0 4 .1 .6 9 .7 4.9 22.7 0.9 6.2 5.7 22.7 1.0 6.7 25 26 27 28 219. 1 215 .6 226. 9 236..7 249. 9 266 6 266.,4 314.5 335.5 29 102. 6 50. 3 3. 2 88 7 56..6 3 .4 90. 9 60. 0 3. 6 90. 3 62. 2 3. 9 91. 1 64. 9 4. 3 96.,7 67. 3 4. 6 103. 6 72. 3 4. 5 106.8 30.2 4.9 106.9 86.5 5.8 -3. 6 -I. 6 -1. 3 -1. 1 -1. 0 -1.,1 ,0 -1 . -1.1 -1.2 33 31 32 33 34 36. 9 9. 4 2. 1 36. 6 10. 2 1. 5 41. 1 11. 7 1. 6 43. 8 13. 3 1. 8 46. 4 15. i 2. 1 49. I 17. 5 3, 3 51. 6 20. 4 3 4 54.5 25.0 3.4 57.4 29.5 3.3 35 36 37 1. 3 1. 0 3. 1 1. 3 1. a 0. 2 1. 4 2 5 0. 3 1. 5 3. 6 0. 8 3. 1 4. 7 1. 1 3. 3 6. 6 1 .3 3 5 7. 5 1. 7 3.9 6.9 1.7 4.1 10.5 3.1 0. 4 0. 2 0. 2 0. 9 0. 4 0. 3 I. 2 0. 6 0. 4 1. 7 0. 8 0. 5 2. 2 1. 0 0. 4 3. 4 1. 1 0. 6 3. 3 1. 6 0. 9 4.4 1.9 0.9 4.3 2.2 1.0 36 39 40 41 42 43 44 29 T o t a l liabilities 33 31 32 33 34 Checkable deposits Small time 3 savings dep. Large time deposits M o n e y m a r k e t fund shares F e d . funds 8 s e c u r i t y RPs 35 36 37 Life insurance r e s e r v e s P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 36 39 40 41 42 43 44 M u t u a l fund shades Credit market instruments C o r p o r a t e benas Mortgages B a n k loans n . e . c . Open market paper Other loans 45 46 47 48 49 S e c u r i t y debt Trade debt T a x e s payable Invest. in Dank pers. trusts Miscellaneous liabilities 7. 6 4. 0 2. 6 0. 4 0. 5 0. 3 3. 0 0. 1 0. 5 3. 5 0. 1 0. 7 4. 0 0. 1 0. 9 3. 7 0. 1 1. 1 4.2 0.2 1.4 4.6 0.2 1.9 6. 9 10. 5 12. 1 13. 6 15. 0 16. 5 17. 7 20.2 21.9 45 46 47 46 49 50 Net worth 51 C o r p o r a t e and stock 52 N o n c o r p o r a t e and m u t u a l 21. 9 16. 3 5. 6 23. 4 17. 6 5. 6 25. 0 19. 3 5. 7 26. 1 19. 6 6. 5 26. 0 20. 4 7.6 31. 0 22. 4 6. 6 32. 5 23. 3 9. 2 34.6 24.6 10.0 37.2 26.2 11.0 50 51 52 Memo: 5 3 Market value of e q u i t i e s 5 4 Total real estate (2) 29. 0 2. 5 25. 5 2. 6 21. 7 3. 1 21. 7 3. 1 24. 0 3. 2 24. 6 3. 5 26. 9 3. 6 30.7 3.9 25.6 4.3 53 54 CI) E s t i m a t e based on d i f f e r e n c e between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) L i n e s 3 * 5 * n o n r e s i d e n t i a l plant f r o * line 4. D a t a are in b i l l i o n s of d o l l a r s . . June 6, 1995 Private Financial Institution* B. 134 Balance Sheet of Privat-e Financial Institutions 39 Yeer-End Outstandings ve«p-End Outstandings 1 1954 1155 465 9 441 0 1956 1957 1956 1959 1966 1961 1962 467.8 492. 7 541 576, 3 616, 6 666 .6 730. 9 Total assets i T a n g i b l e assets Residential structures N o n r e s . plant S equipment Land (1) 2 3 4 5 Total f i n a n c i a l assets 6 2 S 4 5 5 8 6 3 7.2 7. 7 8 6. 6 9, 2 9 8 16. 8 4 2 1 6 4 9 1 6 5.6 1.6 6. 6 1. 7 6 I 6..6 1, 6 7. 2 2 ,6 7,,7 2,.1 6. 5 2, 3 6 400 2 434 7 460.7 485.6 533 569,,7 609. 4 676, 2 726. 1 7 6 9 16 11 12 7 6 1 1 7 9 1 3 8.0 1.6 8. 2 1 9 8 2 6. 6 2. 6 9..1 2 6 16, 2 3 .4 11. 1 3 6 C h e c k a b l e dep. and c u r r e n c y Small time and savings dep. Large time d e p o s i t s M o n e y market fund shares F e d . funds & s e c u r i t y RPs Foreign deposits 7 6 9 16 11 12 Corporate equities C r e d i t market i n s t r u m e n t s U.S. Treasury securities F e d e r a l agency s e c u r i t i e s Tax-exempt securities C o r p o r a t e & foreign bonds 13 14 15 16 17 16 13 14 15 16 17 18 - 20 333 103 3 21 52 2 3 9 7 3 3 26 357 96 3 22 55 9 9 2 1 8 4 29. 1 380.0 91.9 2.8 24.1 59.3 29 1 403 4 90. 6 3. 7 26 4 65 8 40 436 99 4 30 71 3 2 1 7 5 4 47,.0 465..0 91..9 4 .3 32 6 75,.7 51. 2 499.,1 93 2 5 5 34,.8 60. 5 66 .1 536, 5 99. 5 6. 4 36.,7 85 .6 62. 5 566. 2 166. 9 6. 2 44. 4 91. 6 19 26 21 22 23 24 86 5 25 5 32 1 0 8 6 .4 0,.9 100 7 31 7 39 6 0 6 7..1 0. 6 112.8 34.9 45.2 0.7 7.4 1.0 121 4 37 4 47 3 0 8 8. 7 1. 3 133 6 37 6 48 1 0 9 9. 6 1. 2 148.3 43..7 55 .3 1..0 16 .9 1,.2 161. 3 48 4 56. 3 1. 6 13. 5 2..6 177, 3 56,.7 66..9 2 .4 14,.2 2 .7 197. 9 55 6 67. i 2. 6 14. 9 2. 7 25 26 27 28 7. 5 21. 3 1.,1 8..0 8. 6 21..7 1. 2 9. 1 8.0 22.3 1.3 10.3 7. 7 22. 4 1. 5 10. 9 9. 2 21. 8 1. 6 12. 7 9 .4 21 .2 1..6 14,.6 9. 6 26. 4 1,,9 15. 2 11. 6 21..1 2..0 17 3 12. 4 22. 0 2. 2 26. 0 29 363, 3 394,.2 417.9 441. 6 464. 6 518..3 553.,5 608,.3 656. 4 113. 5 97 .8 7,.0 115. 6 106.,6 6 .7 117.5 116.2 6.5 117. 0 128. 3 6. 7 122 7 142. 6 9. 3 123 .6 154,.1 7, 5 125,.7 165. 8 11..1 131 .6 164.. 1 13,.5 135. 6 209. 9 16. 4 30 31 32 33 34 Mortgages C o n s u m e r credit Bank loans n . e . c . Open m a r k e t paper Other leans C u s t . liab. on a c c e p t a n c e s 19 26 21 22 23 24 S e c u r i t y credit 25 Vault cash i c s m m . bank res. 26 Trade credit 27 M i s c e l l a n e o u s fi^an. assets 25 Total liabilities 29 C h e c k a b l e deposits Small time 8 savings dee. Large time deposits Morey market fund shares F e d . funds & s e c u r i t y RPs 36 31 32 33 34 -1. 5 -2..0 -1.9 -1. 9 -2. 1 -I,.9 - 2 ,1 -2,. 1 -2. 1 35 36 37 60,, 4 34,.4 3 .1 63..5 41 ,3 4, 3 66.6 47.2 4.7 69. 3 53,, 1 4. 2 72. 3 62. 5 4. 3 75,.6 71, 6 5,.1 76.6 79. 5 5..6 6 2 .1 91 .8 7,. 6 65. 8 97. 4 6. 6 Life insurance r e s e r v e s Pension «und r e s e r v e s Interbank c l a i m s , *et 35 36 37 38 39 46 41 42 43 44 6 .1 10,. 1 2,.8 7. 8 12.,1 3. 2 9.0 13.9 4.5 8..7 15..7 5..7 13. 2 15..6 5. 6 15,.6 26. 2 6 .5 17..0 24..4 9..8 22 9 26..0 10,.5 21. 3 26. 9 16. 8 4,,1 2 .4 0,.9 5..1 2..4 1..4 5.4 2.8 1.2 5..1 3 6 1,.3 5, 5 3. 4 - 3 7..5 4,.1 2 .1 6.,9 5.,6 2..0 6 5 6 3 2 .7 7. 2 7. 5 3. 5 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. Open market aaper Other loans 36 39 40 41 42 43 44 45 46 47 48 49 6 .0 6 2 1 .6 6 .5 0 2 1,.3 5.8 0.2 1.5 5. 9 6, 3 1. 6 6 .7 6. 3 1..7 6 .7 6. 3 1 .4 7, 2 6. 3 2 ,4 6 .4 6 3 1..4 9. 2 6. 3 1. 9 24 5 29, 8 30.6 32 .8 35..4 36 .1 37.6 41,.6 44. 8 S e c u r i t y deot Trade debt Taxes payable Invest, in ban* per s. trusts Miscellaneous liabilities 45 46 47 48 49 50 51 52 42 7 30. 3 12,.4 46..8 32 a 14..0 49.9 34.8 15.1 51. 1 34, 9 16. 3 56. 5 38 3 16..1 66,.0 40, 2 19,.8 65..0 43. 4 21, 6 72 .6 49 . 1 22 .9 74. 5 50. 9 23. 6 53 54 34..0 4,,4 37. 6 4. 8 37.2 5.4 45. 6 5. 8 59. 6 6. 1 73, 2 6..5 75. 9 7. 0 117,.9 7,.6 90. 5 8. 4 Net worth C o r p o r a t e and stock N o n c o r p o r a t e and m u t u a l Memo: Market value of equities Total real estate (2) (1) E s t i m a t e based an difference between market value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s . (2) Lines 3 * 5 * n o n r e s i d e n t i a l plant from line 4. Data are in billions of d o l l a r s . 50 51 52 53 54 J u n e 8, 1995 Private Financial Institutions 40 Private F i n a n c i a l B. 134 Balance Sheet of Private F i n a n c i a l Year-End Outstandings 1 Total assets 2 T a n g i b l e assets Residential structures 3 4 N o n r e s . plant & equipment 5 Land (1) 6 Total financial assets Year-End O u t s t a n d i n g s 1964 1965 1966 600.5 878.5 962.1 1010.8 1116.6 1231.6 11.6 13.3 14.9 16.8 16.6 22.1 9.2 2.3 10.4 2.9 11.9 3.0 13.4 3.4 15.0 3.5 769.0 865.2 947.2 994.0 11.5 4.7 11.9 5.2 11.5 5.5 0.1 1970 1971 1426.6 1535.1 1745.4 36.1 0.1 22.9 13.1 41.6 17.9 4.2 31.8 0.1 20.4 11.4 1096.2 1209.7 1396.6 11.9 6.2 0.4 12.5 6.7 0.6 13.9 7.3 1.9 0.1 0.3 C h e c k a b l e dep. and currency Small time and s a v i n g s dep. Large time d e o o s l t s M o n e y market fund shares F e d . funds 8 s e c u r i t y RPs Foreign deposits 11.2 4.2 13 14 15 16 17 16 C o r p o r a t e equities Credit market instruments U.S. Treasury securities F e d e r a l agency s e c u r i t i e s Tax-exempt securities C o r p o r a t e 8 foreign bonds 76.3 636.2 97.6 6.7 46.6 96.1 69.7 694.4 99.0 9.5 52.4 105.4 104.7 756.6 94.6 10.4 57.1 113.1 100.1 604.5 91.6 11.6 59.7 122.4 126.2 867.9 95.6 15.0 70.2 134.9 152.1 942.9 96.6 17.8 79.7 144.2 241.1 1032.6 90.1 23.5 92.1 157.8 247.5 1112.5 97.5 30.7 105.6 172.1 223.6 63.0 74.3 2.7 16.7 2.9 249.2 71.3 62.6 2.9 16.6 3.4 274.7 60.2 96.7 2. 7 21.3 3.4 292.6 66.0 109.6 3.3 23.9 3.6 310.7 91.0 117.0 4.4 24.5 4.3 333.4 101.7 139.4 4.7 26.0 4.4 357.3 111.6 148.3 11.1 35.5 5.5 377.3 115.5 154.5 13.2 36.3 7.1 15.0 22.4 2.5 25.0 15.3 23.3 2.6 27.6 15.6 25.2 2.9 28.4 20.5 27.0 3.2 33.0 24.7 29.1 3.5 37.7 20.0 29.4 3.9 46.2 31.2 4.4 57.0 Mortgages Consumer credit Bank loans n . e . c . Open ma-ket paper Other loans C u s t . liab. on a c c e p t a n c e s 25 26 27 26 S e c u r i t y credit Vault cash & c o m m . bank res. Trade credit M i s c e l l a n e o u s flnan. assets 29 Total liabilities : - 15. t 21.3 2.3 22.4 - 0.1 26.6 14.8 1703.6 7 6 9 10 11 12 19 20 21 22 23 24 Institutions Institutions 14.5 6.6 2.7 15.5 10.6 5.3 1.2 20.2 312.5 1226.0 96.4 36.3 124.5 189.3 418.9 128.7 166.0 15.1 40.9 7.9 23.5 35.3 <4. 7 69.0 7 8 9 10 11 12 13 14 15 16 17 16 19 20 21 22 23 24 25 26 27 28 721.0 792.3 670.0 915.6 1013.2 1117.6 1305.5 1406.0 1602.1 30 31 32 33 34 Checkable deposits Small time & savings dep. Large time deooslts M o n e y market fund shares F e d . funas 3 security RPs 136.0 235.5 20.3 144.9 261 .2 25.1 150.3 266.5 31. 0 152.4 306.5 33.3 164.6 341.2 39.2 178.4 367.8 45.9 183.2 332.3 30.9 192.8 412.9 55.1 206.4 481 .3 68.6 -2.6 -2.3 -1.5 -1.5 -2.2 -1.5 4.7 30 31 32 33 34 35 36 37 Life Insurance r e s e r v e s Pension furd r e s e r v e s Interbank claims, net 89.9 110.4 6.8 94.2 125.9 6.9 96.9 141.6 6.6 103.5 150.6 10.6 106.3 172.6 11.0 113.1 194.1 15.0 118.1 204.8 22.2 123.3 225.1 17.3 129.6 261.7 11.9 35 36 37 36 39 40 41 42 43 44 M u t u a l fund shares Credit market instruments C o r o o r a t e bonds Mortgages Bank loans n . e . c . Open market paper Other loans 25.2 34.6 12.4 29.1 40.3 15.5 35 2 46.6 16.7 34.6 52.5 16.3 44.3 53.2 19.3 8.7 10.7 5.3 12.2 11.9 6.0 11.6 15.7 6.9 11.1 16.4 4.4 47.6 77.7 20.9 0.4 14.3 32.8 9.3 46.6 64.1 23.5 0.5 16.4 33.1 55.4 89.3 6.7 6.7 4.6 51.2 59.6 19.9 0.2 12.6 21.4 5.3 38 39 40 41 42 43 44 45 46 47 46 49 S e c u r i t y debt Trade debt Taxes payable Invest, in bank pers. trusts Miscellaneous liaoilities 10.3 0.3 1.5 11.2 0.4 1.6 12.0 0.4 1.6 12.6 0.4 1.7 16.6 0.5 1.5 20.3 0.5 1.7 17.7 50.6 53.9 58.3 58.1 62.2 71.4 17.2 0.6 1.9 129.6 84.5 2.5 131.6 94.9 19.0 0.7 2.4 155.9 114.9 45 46 47 48 49 79.5 52.9 26.6 66.2 57.5 26.7 92.0 61.7 30.4 95.0 64.1 30.9 103.6 70.2 33.4 114.3 77.2 37.1 123.2 81.0 42.1 129.1 67.5 41.6 143.3 95.0 48.3 50 51 52 110.6 9.0 116.2 10.3 155.0 11.2 139.3 12.6 167.0 13.3 236.4 15.7 213.2 24.7 204.3 237.2 32.0 53 54 53 Net worth 51 C o r p o r a t e and stock 52 N o n c o r p o r a t e and m u t u a l Memo: 5 3 M a r k e t value of e q u i t i e s 5 4 Total real estate (2> CD E s t i m a t e ba:*d on difference between market value of real estate and current-cost value of s t r u c t u r e s . (2) Lines 3 5 n o n r e s i d e n t i a l plant from line 4. Data are in b i l l i o n s of d o l l a r s . 10.6 0.6 26.0 26.2 0.7 18.6 33.6 7.9 June B, 1995 Private F i n a n c i a l Institutions Private Financial B . 1 3 4 B a l a n c e Sheet of P r i v a t e F i n a n c i a l Institutions 41 Year-End O u t s t a n d i n g s 1 Year-End Outstandings 1972 1973 1974 1975 1976 1977 1976 1979 1980 2012 .4 2166 . 1 2256 . 1 2517 . 7 2623 .8 3 1 2 3 .3 356 0 .8 4019 .4 4537 .6 58 .3 0 .3 38 . 1 19 .9 71 . 7 0 .4 47 .2 24 . 1 83 . 0 0 .5 5 4 .2 26 .3 94 .0 0 .6 62 .0 31 .4 104 .0 0 .5 68 .7 34 .8 120 .9 0 .5 80 .7 39 .7 2729 .8 3019 .3 3439 .8 21 .6 20 .3 15 .3 0 .3 5 .5 23 .0 23 .9 17 .0 0,.7 8 .2 2 3 4 5 48 .5 0. 2 31 .4 16 .9 6 1963 . 9 2107 .8 7 8 9 10 11 12 17 .6 12 .6 7. 0 18 .3 13 .5 7 .5 18 .9 15 . 7 11 . 4 20,.6 18,. 0 16 .5 1. 7 3 .7 6. 1 5,. 1 13 14 15 16 17 18 374 .4 1383 . 1 99 .3 48.. 9 137 . 4 208,. 0 324 . 9 1559 .6 90,.3 62 . 0 147,. 6 220,.5 245,.6 1 702,. 1 89.. 1 70.. 9 153.. 6 237.. 0 321 . 0 1837.. 7 132,.5 83..6 163,.2 268..9 374..3 2046,.8 170,.9 93 .2 179,.8 298.. 1 19 20 21 22 23 24 479 , . 3 147.. 1 191 . .8 18..5 45.. 9 6,. 9 545,. 0 170,.3 239 . .8 22.. 2 53.. 0 8.. 9 583.. 4 178., 9 281 .5 28 6 60 .6 18. 5 617,. 2 183. 7 265. 9 38. 2 66 . 0 18.. 7 25 26 27 28 32.. i 34. 3 5. 8 95. 3 24. 3 37.. 7 6.,5 Ill .. 6 21 .7 37. 5 . 0 7, 118.. 4 23..6 36. 3 7. 7 146., 1 2 1 8 4 .4 2 4 3 4 .7 29 1848. 3 226. 5 551 . 0 87 .4 6 .7 35 36 37 136 .3 314. 10 .7 38 39 40 41 42 43 44 1982. 3 144 . 1 0 .5 98 .2 45 .4 3875 .4 174 .5 0 .4 113 3 5 5 .8 4363 . 1 assets 1 2 3 4 5 Total 6 financial assets 29 .6 29 .3 29 .5 3 .9 14 .4 5. 1 355 .5 2307..9 175,.2 110,. 1 205,. 0 332 .0 394 . 4 2617 .8 169,. 0 131 . ,4 232 .9 371,.4 448 .3 2937,. 1 172,.3 159.. 0 256,.7 398,. 9 660..2 204..5 272.. 9 48.. 4 76.,3 22.,5 776. 3 240.8 301..8 49..6 91 .5 25,, 7 883..8 284, 3 360,. 4 53,. 9 105.. 7 24..9 982 .5 .4 321 , 410,.3 81 ,5 121 . 6 32.5 1 046,.6 325..8 458 .5 103,.9 132 .3 39..8 Mortgages C o n s u m e r credit Ban< loans n.e.c. Open m a r k e t paper Other loans C u s t . 1lab. on a c c e p t a n c e s 19 20 21 22 23 24 34. 2 37..3 8.. 9 165. 2 38. 4 40..8 10. 2 193.,7 38..2 46 , ,7 . 1 1,7 245..5 37..6 48,,3 13.,6 278., 6 45,.7 47..3 15,.6 329..5 S e c u r i t y credit Vault casn & comm. bank res. Trade c r e d i t M i s c e l l a n e o u s finan. assets 25 26 27 28 32 .6 34 .7 42 .4 7 .2 18 . 7 6 .3 C h e c k a b l e dep. and c u r r e n c y S m a l l time and savings dep. Large time d e p o s i t s M o n e y m a r k e t fund shares Fed. funds 3 security RPs Foreign deposits 7 6 9 10 11 12 .9 . 7 . 0 . 2 .5 .4 Corporate equities Credit m a r k e t 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 Tax-exempt securities C o r p o r a t e & foreign oonds 13 14 15 16 17 18 550 3231 212 193 278 440 2069 . 1 231 1 .3 2590., 1 2868. 3 3267., 4 3678. 7 4146. 5 23. I 239 .8 628. 1 167. 4 2. 4 25. 4 246. 5 726 .5 158. 3 3. 7 29 .1 263. 3 848. 0 144.. 4 3. 7 45., 1 298. 3 943. 2 173. 0 3. 9 52. 3 314., 7 1 009.6 228.. 1 10. 8 76.. 1 343., 4 1 07 0 2 . 257. 4 45. 2 92.. 7 356., 0 1154., 1 316..9 76 .4 116 .2 143. 5 320 .5 4. 9 150. 5 326. 3 4. 6 158. 5 420. 7 -7 .9 167. 1 483. 3 -16. 0 176. 4 531 .4 -19. 2 187. 3 6 25. 0 -8. 3 197. 7 724. 3 9. 4 58. 9 134. 8 35. 6 1 .2 25. 4 34. 7 8. 0 46. 6 131 .9 41 .0 1 .5 32. 6 41 .7 15. 1 35. 2 159 .7 47 .9 1 .6 33. 3 55. 21 .8 43. 0 152. 6 57. 1 1 .5 19 .7 56. 4 17. 8 46 .5 161 .8 64. 0 2. 0 17. 5 62. 5 15. 9 45. 5 193. 3 76. 3 1 .8 19. 9 75. 1 20. 2 46. 0 223. 9 82. 9 2. 0 24. 4 69. 1 32. 7 45 46 47 48 49 24. 0 0. 8 2. 5 179. 4 1&5. 2 20. 4 0. 8 2. 6 166. 4 165. 0 18. 3 0. 9 2. 7 137. 8 170. 5 19. 9 1 .0 2. 156. 9 196. 3 27 .4 1 .0 3. 0 184. 8 227. 1 29. 6 1 .1 3. 9 181 .9 263. 8 50 51 52 164. 2 109. 6 54. 5 133. 7 123. 7 60. 0 166. 9 126 .8 60 . 1 206. 4 138.9 67. 5 233. 7 159. 8 73. 9 53 54 272. 4 36. 8 213. 0 42. 6 133. 6 50. 1 155. 6 56 .7 208. 2 61 .6 239. 8 590 .4 126., 4 Total T a n g i b l e assets Residential structures N o n r a s . plant 3 e q u i p m e n t Land (15 26 .8 25 .2 21 .9 1. 7 9 .5 0 .5 * 30 31 32 33 34 Institutions ., Total liabilities 30 31 32 33 34 207 .4 872. 9 -22. 5 L i c e insurance r e s e r v e s Pension * j n d r e s e r v e s Interbank c l a i m s , net 35 36 37 51 .3 274. 1 96. 4 2. 0 28. 0 115. 9 41 .8 61 .8 302. 3 93. 3 1 .9 28. 7 128. 3 49 .0 M u t u a l <und shares Credit ma-<et instruments C o r p o r a t e bends Mortgages Bank loans n.e.c. Ooen market paper Other loans 38 39 40 41 42 43 44 29. 5 1 .2 4. 8 192. 8 318. 9 30. 5 1 .3 5. 0 215. 2 360 .4 37. 2 1 .7 4. 0 244. 3 417. 4 S e c u r i t y debt Trade debt Taxes payable Invest. in bank oers. trusts M i s c e l l a n e o u s liabilities 45 46 47 48 49 255. 0 175. 6 79. 4 293. 3 199. 8 93. 6 340. 8 233. 1 107. 7 391 . 1 266. 9 124. 1 191 .9 67. 2 198.2 76 .0 231 .3 87 .3 260. 0 105. 3 Net worth C o r p o r a t e and stock N o n c o r p o r a t e and mutual Memo: Market value of equities Total real estate (2) (1) E s t i m a t e based on d i f f e r e n c e between m a r k e t value of real estate and s u r r e n t - c o s t value of s t r u c t u r e s . (2) Lines 3 • 5 + n o n r e s i d e n t i a l plant from line 4. Data are in billions of d o l l a r s . 29 C h e c k a b l e deoosits Small time 3 savings dep. Large time deposits M o n e y market fund shares F e d . funds 3 security RPs 50 51 52 53 54 June 8, 1995 Private Financial Institutions ^ 2 Year-End 1 Total 6 Total assets financial assets 7 8 9 10 11 12 C h e c k a b l e d e p . and c u r r e n c y S m a l l t i m e and s a v i n g s d e p . Large time deposits M o n e y m a r k e t fund s h a r e s Fed. funds & security RPs Foreign deposits 13 14 15 16 17 18 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities Tax-exempt securities Corporate & foreign bonds 19 20 21 22 23 24 Mortgages Consumer credit Bank loans n.e.c. O p e n m a r k e t paoer Other loans C u s t . l i a b . on a c c e p t a n c e s 25 26 27 28 Security credit Vault cash & comm. bank res. Trade credit Miscellaneous finan. assets Total of Private Financial liabilities Financial Institutions Year-End Outstandings Institutions Outstandings 2 Tangible assets Residential structures 3 Nonres. plant & equipment 4 Land (1) 5 29 Private B. 134 Balance Sheet 1981 1982 1983 1984 1985 1986 5008. 5 5555. 9 6238. 3 7053. 6 8184.9 9470. 5 10250. 6 1 1 1 5 7 ..9 204. 9 0. 4 140. 8 63. 6 232. 1 0. 4 160. 0 71. 7 258. 6 0. 4 178..0 80. 2 285. 8 0. 5 2 0 1 .4 84. 0 322. 7 0. 6 227. 9 94. 3 370. 0 0. 8 262. 7 106. 4 421. 5 1. 0 295. 8 124. 7 471. 2 1. 2 335. 3 134. 7 4803. 6 5323. 7 5979. 8 6767. 7 7862. 2 34.8 40. 1 64. 2 19. 7 33. 8 18. 8 40. 4 50. 5 81. 2 20. 3 44. 3 23.8 40. 4 63. 9 69. 4 18. 9 53. 6 21 .9 529. 8 3568. 5 258. 4 2 3 7 .. 0 294. 5 464. 5 646. 3846. 353. 308. 318. 502. 1 096. 8 341 .9 512. 2 160.. 1 152., 1 5 1 ., 1 1093. 0 358. 0 532. 8 162. 1 159. 0 58. 3 49. 43. 18. 382. 2 9 1 6 7 1 2 3 4 6 52. 0 46. 0 20. 2 452. 2 42. 4 70. 2 67., 0 24. 9 71 .6 21 . 2 52. 94. 68. 34. 80. 19. 1987 1988 1989 12488..7 530,.0 1,.4 3 7 7 .6 151.. 0 11953. 3 1 2 3 4 5 9100. 5 9829. 1 ID686. 8 2 4 6 3 1 0 62.2 116. 8 78. 0 43. 4 86. 6 22. 2 59. 6 132. 4 84. 4 43. 9 92. 1 21 .6 63, 8 146. 3 95. 5 53. 2 99 .2 29. 7 66. 2 166..6 118. 3 66., 0 119. 4 26 ., 4 7 8 9 10 11 12 6 8 1 5 ., 6 4 2 4 9 ., 1 4 3 1 .,7 3 7 7 .. 1 336.,3 539. 5 827. 2 4 3 8 0 ..8 519. 6 4 3 0 ..1 367.. 0 618. 2 1061 . 1 5522. 0 606. 1 495. 8 474. 6 726. 2 1275. 4 6359. 3 732. 1 674. 2 528. 9 878. 8 1315. 1 6929. 4 762. 0 8 2 1 .2 5 2 1 .4 1022. 7 1481 .8 7504. 5 723. 2 903. 6 524. 5 1194. 9 1352.. 0 3 1 4 7 .. 4 825..9 973.. 0 5 3 7 .0 1308..7 13 14 15 16 17 18 1190. 5 402. 3 564. 2 162. 3 179. 2 65. 7 1348.. 4 4 8 0 .9 6 2 2 ., 9 211 .3 213.. 3 69 .. 4 1487. 559. 664. 205. 242. 60. 4 1 6 9 4 0 1633. 7 612. 1 731 .5 242. 6 271 . 0 54. 1797. 0 6 33. 0 731 .6 267. 4 308. 3 59. 8 1992. 2 681 .2 770. 8 308. 0 343, 7 57. 5 2 1 4 5 ..6 732..6 8 1 9 .9 3 7 2 .6 376..7 55..4 19 20 21 22 23 24 96. 1 54. 2 29 .6 750. 4 97. 1 73. 8 35. 4 850. 6 76. 2 66 . 6 40. 7 967. 1 77. 4 66. 9 49 .3 1019. 2 30..7 64.,2 53. 3 1198. 25 26 27 28 10271. 9 11434. 5 62..8 42.,4 22., 9 5 1 8 ..8 66. 3 46 .. 1 26 .5 6 2 3 .,6 4 6 0 6 .. 1 5142. 4 5 7 7 5 ..3 6516. 2 7 5 5 9 .. 1 8754. 6 9 455. 4 373. 2 1 2 0 4 ,.0 378. 6 186. 2 144..6 400. 8 1342. 9 395. 8 2 1 9 .8 176. 7 427 3 1559,.6 384..6 179..4 138..6 463. 9 1710. 8 471 .. 4 233..6 224.. 1 531 ., 1 1853. 4 438. 5 243. 8 250. 6 643. 1973. 492. 292. 298. 630. 4 2 0 48. 5 5 4 1 .9 3 1 6 .. 1 2 9 2 .,7 655., 1 2 1 3 7 .,8 595., 1 338.. 0 318. 7 651 .,9 2 2 3 5 .,5 613..0 428., 1 396. 5 30 31 32 33 34 223. 3 1163.. 1 . 1 231 . 1 1387..6 - 7 5 ..2 236.. 1 1539..8 - 6 5 .9 2 4 6 ..5 1 8 8 3 .. 4 - 4 5 ., 1 263. 7 2 2 4 1 .6 - 3 6 .8 2 8 9 .5 2 4 2 7 .8 5. 8 314.. 4 2 6 5 2 .. 7 10.. 1 342..8 3172.. 0 -1 . 7 35 36 37 478. 3 .4 1041 . 456 . 1 3 .4 51 .4 3 7 7 .7 1 5 2 .3 566 .2 1145,.6 526 . 1 3 .7 6 4 .9 409 , .1 .8 141 , 38 39 40 41 42 43 44 74 8 3 443 1150 .8 .5 .5 .7 .1 .4 91 , 8..0 4. 3 515.,1 1266.. 0 45 46 47 48 49 2 7 1 1 7 29 30 31 32 33 34 Checkaole deposits Small time S savings dep. L a r g e t i m e d e o o s its M o n e y m a r k e t fund s h a r e s Fed. funds 8 security RPs 35 36 37 Life insurance reserves Pension *und r e s e r v e s I n t e r b a n k c l a i m s , net 216. 3 952..8 -69 . 7 38 39 40 41 42 43 44 M u t u a l fund s h a r e s Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Other loans 5 9 .8 3 5 3 .3 9 8 .9 1 .9 . 30 .8 161 .5 6 5 .2 76..9 389..2 113..7 2.. 0 33 3 174..2 66 . 0 112,. 1 423 . 6 131 . .3 2,.1 35 .8 195 .5 59 . 0 136,. 7 518..1 176..6 2 .5 4 4 .8 219 .5 7 4 .6 2 4 0 ., 2 621 .,5 233.. 1 2..5 44. 6 252 . 4 88..8 413. 5 773..4 325.. 4 2..8 56..9 284..6 108..6 45 46 47 48 49 S e c u r i t y debt T r a d e debt Taxes payable I n v e s t . in b a n k p e r s . t r u s t s Miscellaneous liabilities 4 0 .9 2 .1 2 .7 2 4 8 .1 5 0 8 .2 44 2 2 264 517 49 5 2 293 606 56 5 2 306 677 80..5 8.. 0 2 .8 358 3 795..5 83..6 7,.6 3,. 0 404,. 4 8 9 0 ..8 50 Net worth C o r p o r a t e and s t o c k 51 N o n c o r p o r a t e and m u t u a l 52 4 0 2 .4 272 . 1 130 .3 4 1 3 .5 2 7 3 .7 139 .7 4 6 3 .0 3 0 8 .7 1 5 4 .3 5 3 7 .4 3 8 8 .3 149 .1 6 2 5 .8 4 5 7 .8 168 . 0 715..9 526..8 189,.1 795 2 601 .3 193,. 9 8 8 6 .0 6 35 .3 2 5 0 .7 1004,.2 7 1 2 .2 292,. 1 50 51 52 Memo: 5 3 M a r k e t v a l u e of e q u i t i e s 5 4 T o t a l real estate (2) 2 7 2 .5 121 .9 3 1 9 .4 139 .3 357 . 0 155 .5 3 7 6 .5 169 . 0 5 2 1 .8 191 .9 5 6 4 .5 218,. 1 4 6 6 .2 2 5 0 .5 5 0 2 .2 2 7 4 .5 5 1 6 .5 307 .8 53 54 .1 .6 .9 .2 .2 C I ) E s t i m a t e b a s e d on d i f f e r e n c e b e t w e e n -narket v a l u e . of r e a l e s t a t e a n d c u r r e n t - c o s t v a l u e of s t r u c t u r e s . (2) Lines 3 • 5 • n o n r e s i d e n t i a l plant f r o m l i n e 4. Data are in b i l l i o n s of dollars. .2 . 1 .6 .2 .6 . 0 .5 .4 .1 .6 4 6 0 ., 1 9 1 1 ..7 404,. 0 3 . 1 48..6 3 2 2 .9 133 . 1 73 .5 6 .8 2.8 4 1 4 .2 10 3 3 .5 June 8, 1995 Private Financial Institutions B . 1 3 4 B a l a n c e Sheet of Private F i n a n c i a l Private Financial Institutions Year-End Outstandings Institutions 43 Year-End O u t s t a n d i n g s 1992 1 12854,.9 14077.2 15085.9 2 3 4 5 550 .5 1,.6 4 1 2 .8 136 .1 562.7 1.9 431.8 129.1 585.6 2.4 457.2 125.9 6 12304..4 16569., 1 17252.4 609. 5 3. 2 490. 2 116., 1 627.8 4.1 526.3 99.4 15959. 6 16624.6 Total assets Tangible assets Residential structures N o n r e s . plant 8 equipment Land (1) 13514.5 14500.4 7 8 9 10 11 12 80..9 157.. 0 94., 1 97..5 126. 2 27..1 74.8 198.7 118.1 124.8 123.4 21.6 77.9 207. 1 109.0 154.8 127.6 20.5 91 .4 209. 5 106. 3 183. 4 117. 9 10 . 1 88.9 183.4 91.8 207.5 116.8 15.9 Total C h e c k a b l e dep. and currency Small time and savings dep. Large time deposits Money market fund shares Fea. funds S security RPs F o r e i g n deposits financial assets 13 14 15 16 17 18 1733.. 9 8542..2 907. 5 1 095..4 566..8 1384,. 0 2334.1 8967.5 1137.2 1157.0 597.7 1518.1 2645.3 9398.4 1276.9 1281.4 663.6 1665.1 3204. 2 10053. 8 1358.. 1 1 644.,7 757.. 1 1858.,7 3310.4 13478.9 1290.5 1489.0 768.2 1924.1 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 Federal agency s e c u r i t i e s Tax-exempt securities C o r p o r a t e 5 foreign bonds 19 20 21 22 23 24 2178., 4 745.,3 815.. 0 409 . 0 395.,2 45. 5 2191 .6 734.4 735.9 393.0 387.4 35.3 2178.3 737.6 776.6 395. 0 392.6 31 . 7 2231 .5 796 .. 1 768., 6 419. 5 604. 6 25. 3 2310.6 893.7 831.5 493.3 655.0 22.9 25 26 27 28 75., 0 71 . , 2 56..4 1242. 9 101.9 63. 0 60.4 1326.2 141.3 63.9 62.9 1491.7 176. 6 67. 6 65. 8 1673. 0 169.0 68.9 70.3 1922.8 15270. 5 15971.1 Mortgages Consumer c edit Ban< loans n . e . c . Ooen market paper Other leans Cust. liab. on a c c e p t a n c e s 1 20 2 22 23 26 S e c u r i t y credit 25 Vault cash £ comm. ban*. - 55. 26 Trade cred it M i s c e l l a n e o u s finan. assets Total liabilities 29 11825., 1 12982.4 13913.3 30 31 32 33 34 670 . , 0 2349..2 546., 9 698,,4 372, 3 727.1 2350.7 488.4 539.6 355.8 823.4 2293.5 415.2 543.6 392.3 903. 5 2223. 2 391., 7 562., 7 457 .,8 868. 1 2182.7 610.7 608.2 562.1 C h e c k a b l e deposits S m a l l time 3 savings dep. Large time deposits Money market fund shares Fed. funds 8 security %Ps 30 31 32 33 34 35 36 37 368.. 1 3233..6 24,. 0 393.8 3862.3 33.4 421.5 4213.0 68.8 657. 2 6643. 5 110., 1 677.6 4650.6 203.7 Life insurance r e s e r v e s Pension c u n d r e s e r * e s Interbank claims, net 35 36 37 38 39 40 41 42 43 44 602,. 1 1191,- 1 572 . 4 4,.3 69,.6 417,.7 117 . 1 813.9 1197.9 640. 0 4.8 78.4 385.7 79.1 1042.1 1284.8 724.8 5.4 80.5 396.3 79.9 1466 .3 1616.. 1 844,. 0 8., 9 66..5 393,, 5 103,. 1 1563.9 1588.9 947.2 18.7 54.3 442.8 125.9 Mutual fund snakes Credit market i n s t r u m e n t s C o r p o r a t e bo^os Mortgages Bank loans n . e . c . Open market oacer Other loans 38 39 40 41 42 43 64 45 46 47 48 49 98..6 6. 1 3 .9 522 . 1 1348 .6 133.8 6.8 5.4 608.3 1475.1 164.1 7 .4 6.0 629.6 1608.3 203..3 10,. 1 7.. 9 660,, 9 1776 . 2 202.9 9.1 7.7 670.0 1984.8 S e c u r i t y deot Trade debt Taxes oayable Invest. in oank pers. trusts Miscellaneous liabilities 45 46 47 48 49 50 51 52 1029,.8 742 .6 287. 2 1094.8 757. 7 337.2 1172.6 809.6 363. 0 1298 .6 902.. 9 395., 7 1291.4 979.9 402.6 53 54 409,.5 309 .3 579.0 315.7 675.6 328.3 761 ..8 338. 2 715.4 341 . 0 Net worth C o r p o r a t e and stock N o n c o r p o r a t e and m u t u a l Memo: Market value of equities Total real estate :2) (1) E s t i m a t e based on d i f f e r e n c e between m a r k e t value of real estate and c u r r e n t - c o s t value of s t r u c t u r e s (2) Lines 3 + 5 + n o n r e s i d e n t i a l plant from line 4. Data are in b i l l i o n s of d o l l a r s . 50 51 52 53 54 June 8, 1995 D o m e s t i c Wealth Domestic Wealth R.ll 44 Factors Accounting for Change In D o m e s t i c Wealth Annual Flows Annual Flows 1945 Domestic investment 5 6 7 8 acq. of gold & SDRs • 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 * Change in land values - Adjustment of capital c o n s u m p t i o n to Balance Sheet basis • R e v a l . of SDR h o l d i n g s 9 * Change 1947 1948 1949 1950 1951 1952 1953 flows: 1 P u r c h a s e s of p h y s i c a l assets 2 - Capital c o n s u m p t i o n 3 * Net capital formation 4 * Net 1946 in domestic wealth Change in consolidated net w o r t h : 47.3 28.4 18.8 55..5 28. 6 26..9 70.0 33.0 37.0 61.5 36.1 25.4 85, 8 39. 5 46.,4 90. 3 45. 7 44. 7 83.3 49.7 33.6 89.0 53.3 35.7 1 2 3 0.6 2. 2 1.5 0.2 -1. 7 0. 1 0.4 -1.2 4 58.5 19.3 69. 6 19. 0 19.3 10.1 -.3 7.9 45. 6 24. 4 33. 1 22. 9 4.1 16.6 0.9 12.7 5 6 - - - 97.2 117. 7 67.9 33.2 114. 6 100. 8 54.7 - 48.1 7 8 9 domestic 97.2 117. 7 67.9 33.2 114. 6 100. 8 54.7 48.1 10 11 Private sectors, c o n s o l . (2) Sector basis, total 12 Household sector 13 Farm business 14 Nonfarm -to^coro. b u s i n e s s 15 Nonfarm n o n f i n a n . corp. bus. 16 Private finan. i n s t i t u t i o n s 17 94.5 113.0 56.1 14.2 13.1 28.1 1.5 112. 0 146.0 75. 9 21 .2 15. 8 31. 6 1. 6 60.7 68.8 41.3 0.1 8.8 17.5 1.2 36.1 45.4 36.3 -4.1 2.8 8.5 1.9 109. 2 166. 1 105. 7 21. a 10. 3 25. 3 2. 9 100. 3 143. 4 96. 3 11 .7 8. 4 25.5 1. 5 68.2 74. 0 55.0 -1.4 4.0 14.1 2.3 58.0 55.2 37.4 -.4 2.6 13.2 2.4 11 12 13 14 15 16 17 18 - Change 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 invest. 19 Revaluation 20 26.5 -1.6 28.1 35. 9 7 36. 7 9.1 4.0 5.0 -1.0 -1.0 31 .6 3. 7 27. 9 19. 8 0. 6 19. 2 2.5 1.0 1.5 2.2 0.7 1.5 18 19 20 21 - Change in HH corp. equities Net D u r c h a s e s 22 Revaluation 23 -8.2 0.9 -9.1 -2. 5 1. 0 -3. 5 -1.3 0.9 -2.2 7.5 0.4 7.1 23. 7 0. 5 23. 2 22. 3 1. 6 20 .8 1.4 1.0 0.5 -6.3 0.7 -7.0 21 22 23 24 - C h a n g e / f i n . I n s t . c o r p . s n a r e s Net p u r c h a s e s 25 Revaluation 26 0.2 0.3 -.1 0. 6 0. 7 1 0.4 0.4 -.1 2.7 1.1 1.6 1. 6 1 .2 0. 4 1. 0 0. 9 0. 1 1.8 1.4 0.4 1.3 1.7 -.4 24 25 26 2.0 0.2 1.7 14. 3 0. 1 14. 2 8.6 -.1 8.6 -3.7 .2 -3.6 4. 3 -3. 0 7. 2 4. 4 -1 .1 5. 5 0. 1 -19.0 -5.5 -13.5 -12.4 -3.5 -8.9 0.1 0.1 " 2.1 1.1 1. 0 10 Total, all • Change 27 28 29 30 31 sectors in net (1) assets of public State S local g o v e r n m e n t s U.S. government Govt. -spons. enterprises Monetary authority - Change in net foreign of U.S. r e s i d e n t s 32 Other 37 G r o s s Domestic Data are " 2 1.5 1.3 32 8 1. 4 1. 6 -2. 7 -3. 0 1. 6 -1.8 -2.2 10.8 -2.9 0.8 5.9 33 34 35 3.6 7. 9 -.7 4.7 0.2 -1 .8 6 1. 7 1.2 0.2 -. 6 -.8 1.9 0.8 616.6 734. 3 802.2 835.4 950. 0 1050. 9 1105.5 1153.7 36 212.4 235. 2 261.6 26 0.4 288. 3 333. 4 349.7 370.0 37 adjustments: Memo: D o m e s t i c net worth at year-end (1) Lines (2) Lines 0.1 " assets 33 • N o n f I n a n e l a l d i s c r e p a n c y 34 * U n a l l o c a t e o financial flows 35 • Unallocated r e v a l u a t i o n s 36 0.1 27 28 29 30 31 outstanding Product 11 • 27 - 32 • 33 • 34 • 35. 12 - 16 - 21 - 24. in billions of d o l l a r s . June 8, 1995 Domestic Wealth Domestic Wealth R.ll F a c t o r s A c c o u n t i n g for Change in Domestic Wealth , Annual Flows Annual Flows 1961 1959 1957 Domestic 85. 9 57., 6 28 3 107.8 60.6 47.2 * 3 20.9 21.0 1. 9 12.0 n o ,.3 67,.5 42 .9 110. 3 72..9 37.,4 101.6 76.2 25.4 121 , .6 79,. 7 41 , .9 122,.1 82. 5 39,.6 0,.3 0..8 -2.3 -1 . , 1 -1 .7 . 36.1 27. 1 9.0 23.2 6.1 21.2 5.2 17.0 -1.9 14.8 134..9 87..7 47,.2 119.,8 85.. 1 34.,7 -•.9 - •,9 investment flows: P u r c h a s e s of p h y s i c a l assets - Capital consumption = Net capital f o r m a t i o n 1 2 3 * Net 4 acq. of gold S SDRs • 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 0.3 t a n g i b l e assets 21.6 + C h a n g e in land values - 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 Sheet basis • R e v a l . of SDR h o l d i n g s -1 . 0 24.1 68.2 57.0 = Change in domestic wealth 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 : 89 . 1 42. 0 106. 4 70 . 4 50. 4 63. 0 50. 8 57. 0 68. 2 T o t a l , all sectors 5 6 7 8 9 domestic (1) 10 11 12 13 14 15 16 17 50.3 123.5 106.0 1 . 0 0 . 7 10.3 5.5 86 .4 148. 9 ICS. 1 2. 4 5. 9 27., 4 4.. 1 no. 5 145. 6 92. 3 7.. 1 7 .5 35..5 3., 1 77.4 52.4 20.5 5.7 3.8 21 . 1 1.2 70. 3 192..3 164., 0 8,.9 3.. 0 11 . ,0 5,.3 68. 3 101 .2 78. 8 1. 8 3.. 1 17., 0 3..5 57- 2 57. 1 44. 5 2. 2 5 5. 9 5., 0 70. 2 192. 0 164. 5 5. 2 1 .. 4 13. 8 7., 0 79. 0 19. 4 -6. 7 4. 8 2. 9 16., 0 2..5 P r i v a t e s e c t o r s , consol. (2) Sector basis, total H o u s e h o l d sector Farm b u s i n e s s N o n f a r m non corp. business N o n f a r m nonf inan. corp. bus. Private f inan. institutions 18 19 20 1 . 4 -3.1 4.5 8.. 0 -4,. 1 12,. 1 14,. 0 -3 . 1 17.. 1 9 . 0 -2.4 11.4 11 ,3 0. 1 11 .2 1. 5 -9 . , 0 10,.6 1 .. 1 -5..9 7,, 0 6.. 0 -5,. 0 11 .0 . 7,. 1 -6..2 13, 3 - C h a r g e in eq.in n o n c o r p . b u s . 18 19 P r o p r i e t o r s ' r et invest. 20 Revaluation 21 22 23 66.3 0 . 3 66.5 47 . 7 0 .. 4 47 . 3 18.. 9 1 ., 0 17 . 9 -34. 0 0.5 -34.5 99 0 .3 99 . 1 24 . 7 -1 .. 0 25 . 7 -5,.3 -1 .2 , -4..2 100,.9 -1 . ,1 . 0 1 02. -63 . 0 -2 . 7 -60,.2 - C h a n g e in HH cor p. equities Net p u r c h a s e s Revaluation 21 22 23 24 25 26 5. 0 0 .9 4.2 6. 7 1. 2 5. 6 2. 1 1.. 7 0. 4 3. 1 -3.2 11 .3 1 .6 9. 7 6. 7 3 .4 3 .3 4 .2 4. 1 0. 1 14,.9 2 .7 12 .2 -3 .3 4,. 3 -8 . 1 - Change/fin.inst.corp.shares Net p u r c h a s e s Revaluation 24 25 26 27 28 29 30 31 -9 . 1 -3.8 -5.4 2.3 -3.0 5.7 0. 1 0 . 1 -1.8 -4.7 2.7 0 . 1 0 . 1 -7 . 4 -4.3 -2.9 - .3 -3.4 2.5 -9.8 -3.8 -6 . 1 -.2 -7.7 -3.1 -4.7 0.1 * • C h a n g e in net assets of public sectors S t a t e 3 local g o v e r n m e n t s U.S. government Govt.-spons. enterprises M o n e t a r y authority 27 28 29 30 31 0.1 2.5 1.9 2. 0 -1.6 -.3 -3.2 2.4 * . £, -15.2 -5.5 -9.8 - C h a n g e in net foreign of U.S. r e s i d e n t s Other 33 34 35 36 37 1195.6 2.8 -1.2 2.5 3.8 -6.2 -.2 1.9 -.6 -2.4 1.3 -1.6 -1.9 1284.8 1391.2 1461.6 1512.0 454.6 -2.3 1 . 1 2.3 370.8 404.3 426.2 448.6 2.8 -2.4 -3.4 2.3 -1.2 -.5 1.2 -.6 -1.2 1575.0 1625.8 1682.7 1750.9 494.1 513.5 531.7 571.6 (1) L i n e s (2) Lines Data are in billions of d o l l a r s . 11 12 13 14 15 16 17 assets adjustments: • Nonf inancial d i s c r e p a n c y + U n a l l o c a t e d f i n a n c i a l flows + unallocated revaluations D o m e s t i c net worth o u t s t a n d i n g at y e a r - e n d G r o s s D o m e s t i c Product 1 1 + 2 7 - 3 2 + 3 3 + 3 4 , 12 - 16 - 21 - 24, 35. 33 34 35 36 37 June 8, 1995 Domestic Wealth Domestic R.ll Annual investment Net acq. = Change of gold S SDRs in d o m e s t i c all sectors 1964 1965 1966 1967 1968 1969 1970 1971 145..2 91 ,2 54.. 0 158. 6 95. 6 63. 0 181 . 4 100..6 80 .8 198..9 107 , .5 . 4 91 , 198..6 116,.8 81 , .8 220.. 9 128.. 0 92..9 241 . 4 141 , .5 99 .9 235.7 154.6 81 . 1 272.,8 169,,4 103.. 4 5 1 -1 .7 . .6 -1 .2 -1. 2 -5.0 27.6 12.5 19.9 14.4 26.6 48.5 31.8 36.4 35. 0 98.5 58.3 0.3 -.3 120 .5 170.9 1 ., 0 95.9 52.2 0.1 6 79.9 45.8 116.3 59. 1 1 2 3 4 0.1 278. 7 domestic (1) 76.1 95..2 120.5 170.9 152.1 248.5 248.. 9 206 . 9 2 7 8 .7 10 80. 9 172.5 143.2 5.6 2.4 16.3 5.0 108..3 206..2 162 .6 6 .2 . 7. 7 23.. 0 6 .7 , 133.9 242.6 177.4 13.2 9.6 36.6 5.3 184.2 136.3 64.6 8.9 16.4 43.4 3.0 179.2 360.3 288.3 9.8 10.2 43.4 8.6 262.7 459.3 350.9 15.0 25.9 57.0 10.7 253..6 143, 3 32.. 2 12.. 6 21 .4 68.. 1 8.,9 2 3 2 .4 248 . 7 151 .3 7 .8 18,. 1 65 . 7 5 .9 301 493 342 21 29 86 14 11 12 13 14 15 16 17 7.4 -5.3 12.7 13..3 -5. 18..9 21.9 -3.6 25 - 4 25 .2 -5.. 4 30.. 6 equities 70.3 -2.6 72.9 71 . 4 -1.. 9 73..3 72.0 -4.8 76 . 7 -67.3 -3.5 -64.3 - Cnange/fin.list.corp.shares Net purcnases Revaluation 13.3 4.1 9.7 13..2 4,. 0 9..2 14.9 5.2 9.8 -4.7 -2.7 -2.1 0.1 -7,. 4 -3.. 0 - 3 .9 0.. 1 5 2.8 1.9 2.0 -1.3 11 P r i v a t e s e c t o r s , c o n s c l . (2) 12 Sector basis, total 13 H o u s e h o l d sector 14 Farm business 15 N c i f a r m none orp . b u s i n e s s 16 N o n f a r m n o n f i r> a r.. c o r p . bus . 17 Private rinan. institutions 18 - C h a n g e in sc.in 19 Proprietors' 20 Revaluation noncorp.bus. net i n v e s t . 21 - C h a n g e in H H c o r p . 22 Net p u r c n a s e s 23 Revaluation • 27 28 29 30 31 C h a n g e in net a s s e t s of p u b l i c sectors State 8 local governments U.S. government Govt.-spons. enterprises Monetary authority - C h a n g e in net f o r e i g n 32 of U . S . r e s i d e n t s Cther (1) L i n e s (2) L i n e s Data are 19.3 -4.7 23. 9 39.7 -2. 1 41 .8 33., 1 -6.. 1 39.. 1 133. 9 -5.5 139.4 133. 2 -10.6 143.8 - 2 2 8 .. 0 - 1 5 ., 7 -212. 3 -4.7 6 . 2 -10.9 28.0 7.8 20.2 23.8 11.0 12.8 -4.2 -2.5 -1.8 0. 1 -7.1 -3.9 -3.3 0. 1 -12.8 -5.0 -8.0 0 . 2 -12.8 -4.6 -8.5 0 . 3 " * 7,. 3 5.9 3.8 3.7 4.0 .5 0.. 7 3 0,,8 0.9 0.6 -4.7 -2.7 -5.7 6.0 -.7 -3.6 -6.3 4.2 -1.5 2. 6 3..8 -10. 5 * 84. 5 20. 6 63. 9 -1 . 0 -7. 7 6. 4 0 .3 0., 1 .7 . 0 . 7 . 3 .5 .2 49 .7 -7 .9 57..5 18 19 20 78.. 4 -11.. 7 90 . 0 21 22 23 6.. 0 10., 0 -4., 1 64., 1 26. 5 37 .6 24 25 26 -20. 2 -9.. 0 -11,.5 0,.3 0,.1 -30.. 0 -3. 9 ,5 -21 . 0 .3 0.. 1 27 28 29 30 31 -13., 7 32 -4. 2 5. 7 -8. 0 33 34 35 -14..9 -4..4 -10..5 1 .5 , adjustments: D o m e s t i c net w o r t h at y e a r - e n d 37 G r o s s 24. 7 -3.2 27 . 9 .5 assets 33 * N o n f i n a n e ial d i s c r e p a n c y 34 • Unallocated financial flows 35 • Unallocated revaluations 36 1963 wealth 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 : 10 T o t a l , Wealth Wealth flows: • 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 5 tangible assets 6 • 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 c a p i t a l c o n s u m p t i o n 7 to B a l a n c e S h e e t b a s i s 8 * R e v a l . of SDR h o l d i n g s 24 25 26 in D o m e s t i c Annual Flows 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 capital formation 9 for C h a n g e Flows Domestic 4 • Factors Accounting Domestic outstanding Product 11 • 27 - 3 2 > 33 • 34 12 - 18 - 21 - 24. in b i l l i o n s ,0 -1 . 8. 2 -11.. 1 of dollars. • 35. 1827.0 1922.2 2042.7 2213.6 2365.6 2614.1 2863.1 3069.9 3348.6 36 603.1 648.1 702.6 769.7 814.3 889.3 959.4 1010.7 1097.2 37 June 8, 1995 D o m e s t i s Wealth D o m e s t i c Wealth R.ll F a c t o r s A c c o u n t i n g for C h a n g e 47 in D o m e s t i c Wealth Annual F l o w s Annual F l o w s 1972 Domestic 316.4 186.3 130. 1 368.8 234. 1 134.7 367.2 203.8 163.4 360.4 272.2 88.2 446.4 301.4 145.0 540.9 336.4 204.5 636.3 380.2 256. 1 680.1 498.1 181.9 694.5 436.2 258.2 248.8 154.4 0.9 1.4 418.5 567.9 395. 1 152.8 682.7 275.3 176.7 261 .2 216.7 371 .8 228. 1 -.2 0.1 540. 1 804.8 506.4 330.4 -.3 0 . 1 flows: P u r c h a s e s of p h y s i c a l assets - Capital consumption = Net capital formation * 186.0 101.3 investment • Net acq. of gold 5 SDRs + 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 670.7 tangible assets 431.6 • C h a n g e in land values - A d j u s t m e n t of capital consumption -.4 to B a l a n c e Sheet basis -.1 + R e v a l . of SDR holdings 618.6 426.4 - .4 -.5 = Change 1284.5 in domestic wealth 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 : 418. 5 567.9 682. 7 540. 1 804. 8 1 092. 0 1304. 3 1284. 5 Total, 1387. 0 1966. 2 1286. 3 37. 0 154. 8 387. 2 50. 3 P r i v a t e s e c t o r s , consol. (2) 11 Sector b a s i s , total 12 H c u s e n o l d sector 13 Farm B u s i n e s s 14 N c n f a r m none or p. business 15 N o n f a r m ?onf inan. corp. bus. 16 Private fin an. institutions 17 690. 4 1 054. 0 7 48. 4 68. 7 49 . 0 160.,6 ,3 27 , 860. 8 375. 6 509 .. 4 57. 3 79 . 208. 3 21 .3 1152. 1 1407 .5 869. 5 110 . 4 107.. 2 232.. 1 38..3 1395. 7 1816. 5 1143., 0 107.. 1 144. 374. 6 , 4 47 . 84. 2 -2C., 0 104. 2 111. 3 -25,,1 136 . .3 131 .2 -13.. 0 149..3 203.. 9 -28,. 9 237 .3 243,. 1 -46 . .2 239 , .3 236 . 0 -60,, 9 296 ., 9 -199..7 -3 .5 -196 . 1 117,. 0 5.. 0 112.. 0 200 .6 3 .6 197 . 0 -97..8 -7 . 0 -90 .8 7 .7 , -12 . 1 19,.8 125.. 9 -17,.3 143.. 2 244 . 0 .3 248..3 -49.1 21.5 -70.6 - 7 8 .2 8 .5 -86 . 7 73 .8 .3 74 . 1 51 . 7 8. 1 43 .5 38 .7 13 .8 25 . 0 51 .8 1 1.8 43 . 0 99 .3 , 14,. 6 84 .8 -15. 1 1 .1 -16. 7 0. 3 0..1 6 4. 5 -6. 3 1 .1 0 .1 -12.0 -3.3 -11.1 2.2 0. 1 -79 .9 -5., 1 -76. 1 .8 0,, 1 -60,. 1 -1 .9 , 0 -60 . 1 .6 0.. 1 , 4 -31 . 5. 2 -37..6 0., 9 .1 0, -14. 4 5. 7 -21 .2 1 ,. 0 0.. 1 -60. 5 -2., 0 -6 0. 2 1 .5 0. 2 -4. 6 4.,6 25.. 4 84,. 0 22..9 45. 8 38..3 1 2 3 4 5 6 7 453. 2 664. 3 446. 6 38. 3 41 .4 117. 2 20. 9 572.8 459 . 4 172.6 76.3 49 . 9 141.0 19.6 732. 7 537. 3 171 ., 7 42., 0 43., 4 277 . 3 3. 2 654. 8 929. 8 627. 6 50. 0 38. 2 194. 6 19. 4 8 9 20 77. 4 -15. 2 92. 6 123.0 123.0 82..5 -34..2 116. 21 22 23 72., 7 -13..8 86 , .5 -187.4 -10.5 -176.8 24 25 26 61 . 0 25..5 35 .4 27 28 29 30 31 623. 0 1 . 0 - 1 8 .6 10 .7 -29 .3 -41 .6 12., 7 -54. 8 0, .4 0 .. 1 5..6 -6 . 0 10 ,3 -13,.8 -10,.3 9..6 77 . 4 -10 .8 - 8 .2 10,.2 -7,.6 -3 . 9 5 .7 -15,. 0 -27.. 0 10.. 7 .4 -1 , 0..2 -23 . 1 0,, 4 5 .5 -5 . 7 0.6 11.0 -48.5 36 3767.. 1 4335 . 0 5017.7 5 5 5 7 .8 6180 .8 6985 .6 8077 .6 9381 . 9 1458.6 1585 .9 1768 . 4 1974 . 1 2232 . 7 2 4 8 8 .7 37 1207.. 0 1349 .6 Data are in b i l l i o n s of dollars. (1) C h a n g e in HH corp. Net p u r c h a s e s Revaluation equities 1 0666 . 4 2708 . 0 10 21 22 23 24 - Change/'* in . inst. corp . shares Net our chases 25 Revaluation 26 • C h a n g e in net assets of puclic sectors State 8 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-soons. enterprises M o n e t a r y authority 27 28 29 30 31 - C h a n g e in net foreign of U.S. r e s i d e n t s 32 assets adjustments: • Nonf inane ial d i s c r e o a n c y + Ur,allocated f i n a n c i a l flows • Unallocated revaluations -14,.8 7 .8 3 .9 (1) Lines (2) Lines sectors - C h a n g e in eq.in n o n c o r p . b u s . IS P r o p r i e t o r s ' net invest. 19 Revaluation 20 Other 33 34 35 all domestic D o m e s t i c net worth at y e a r - e n d Gross Domestic 11 • 27 12 - 18 32 21 33 34 35 outstanding 36 Product 33 • 34 • 35. 24. 37 June 6, 1995 Domestic Wealth Domestic Wealth R.ll Factors Accounting 48 for Change In Domestic Wealth Annual Flows Annual Flows Domestic 1982 1983 1964 1985 786,.5 563..6 222 .9 739. 9 613., 1 126. 7 821.7 642.8 178.8 1 036, .8 669 .4 367..4 1 067.5 711 .6 355. 9 1 .7 . 1 ,. 4 0.1 1966 1986 1989 1230..7 858 .5 372 .2 1291 .6 930 .7 360 .9 1 2 3 . 1 0 .5 4 229.. 0 348 .5 354 .4 417 .5 5 6 -5 .8 -•.2 7 8 investment flows: 1 Purchases of physical assets 2 - Capital consumption 3 = Met capital formation 4 • Net acq. of gold 3 SDRs Revaluations of reproducible tangible assets Change in land values Adjustment of capital consumption to Balance Sheet basis Reval. o f SDR H o l d i n g s 9 = Change 1961 in domestic wealth Change in consolidated net wortn: 1,. 0 0. 9 0..5 242,.0 205. 2 349 .6 286. 2 0.,7 0,.8 1 .4 . 796..8 134.5 246.2 149..3 299..5 7 2 -7.0 -.3 -3. 2 - •.4 1014. 2 563. 9 566.2 820.. 0 779. 6 -2,.8 -• 2 -- 1153.. 0 603..0 350,.0 0,.2 225. 4 209. 9 496 . .8 290 ,2 1107 2 756,.8 350,. 4 163., 0 259.. 1 * - * 987., 7 -•.5 949.. 1 1138,. 9 9 domestic 1014, 2 563. 9 566.2 820..0 779. 6 798..8 987. 7 949.,1 1136..9 10 11 Private sectors, consol. (2) 12 Sector oasis, total 13 Household sector 14 Farm business 15 Nonfarm l o n c o r p . business 16 sonfarm nonfinan. corp. Dus. 17 Private finan. institutions 1137. 9 , 7 1191 . 675. 5 3 166. 2 339., 0 11 .3 . 703. 3 882. 6 713. 2 -34. 1 34. 0 158. 5 11 .1 811.0 1148.9 900.9 -4.7 53.8 149.3 49.6 922.. 0 838..9 727,,4 -93., 0 71 . 1 59,. 1 74..4 922. 5 1441 . , 1 1255. 2 -63. 2 96. 3 64. 4 88..4 994..3 1419. 3 1239 9 -29.. 0 89 . .3 28,.9 90. 2 1149. 6 1265., 0 998. 5 43. 2 71 .2 72. 9 79 .3 1 049 .8 1461 . 9 1 097,6 23.. 9 92. 9 156. 7 90 . .8 1300,.5 2120,. 1 1 739., 9 23. 5 136. 2 102. 3 118,.2 11 12 13 14 15 16 17 18 - Change in eq.in ncncorp.bus. 19 Proprietors' net invest. 20 Revaluation 165.. 7 -43..6 209. 3 2. 6 -82. 9 85. 5 49.3 -76.5 125.8 -14,. 4 -72.. 3 57..9 39.. 0 -58. 6 97. 6 65.. 0 -34. 6 99. 5 106. 6 -7 3., 0 176.. 7 ,4 117 . -23. 5 140. 9 159.. 1 -25..8 184.,6 18 19 20 21 - Change in HH corp. equities 22 Net our en ases 23 Revaluation -94 .0 -45..1 -48..8 64. 7 -24. 1 88. 9 123.2 -22.6 145.8 -76..4 -66 .8 -9..5 24 - Change/fin.inst.corp.shares 25 Net purchases 26 Revaluation -18., 0 29..9 -47 .9 , 112. 0 28. 1 83. 9 165.4 44.3 121 . 1 7. 7 -2,. 4 10.. 1 -84 .8 , -10,. 1 -76 . 1 1, 2 0.. 2 -145. 3 -1 .7 -145. 5 1 .7 0. 2 -180.5 11.6 -193.3 1 . 1 0.1 -172,.6 6 .8 -182,.2 2. 7 0, 2 -198.. 1 8.. 0 -205., 9 .5 0. 2 -234,.9 -2 . 1 -233.. 9 0..9 0,.2 -196., 3 -16. 4 -181 .8 1 .9 0. 3 1 .6 11.3 -117,. 0 -92. 5 -83,.1 -83. 3 7. 4 13..7 -13. 5 -10.2 -10.1 -32.7 9,.2 19..5 -75.. 1 13. 9 .9 -21 , -29,,3 -1 .3 -56 .6 14..4 11680..6 12244..5 12810.7 13630 .7 14410,.4 3030 .6 3149. 6 3405.1 3777 .2 4036 8 10 Total, all sectors (1) 27 28 29 30 31 • Change In net assets of public sectors State 8 local governments U.S. government Govt.-spons. enterprises Monetary authority 32 - Change In net foreign assets of U.S. residents 33 .3 256. 9 -ill .2 370,, 1 220. 7 41 .8 178. 9 -15. 6 -102. 6 87. 0 130, 7 -92. 6 223. 3 314. 9 -109. 1 424. 0 21 22 23 24. 4 30. 3 -5. 9 164. 0 - 7 .3 171 .3 345. 7 2. 1 343. 6 24 25 26 -189.. 0 . 1 -192.,4 3..4 0. 2 -209. 8 -38. 5 -175., 1 3..6 0 .2 , 27 28 29 30 31 -93.. 0 -100. 6 32 24..8 -79 .4 5 .5 28. 5 -29..4 -3..9 9 -lli 9 -39. 7 33 34 35 15209 .1 16196 .6 17145,.9 18284. 8 36 4266..7 4540..0 4900..4 5250. 8 37 136. 3 -103. 9 292, 2 171 .8 20.. 1 151 . 7 Other adjustments: 33 • Nonfinanelal discrepancy 34 * Unallocated financial flows 35 • Unallocated revaluations 36 Domestic net worth outstanding at year-end 37 Gross Domestic Product (1) Lines 11 • 27 - 32 • 33 • 34 • 3 (2) Lines 12 - 18 - 21 - 24. Data are in billions of dollars. -11.. 9 25 .9 -19 .6 June 8, 1995 Domestic Wealth D o m e s t i c Wealth R.ll 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 D o m e s t i c Wealth 49 Annual F l o w s Annual Flows 1990 1991 1992 1993 1994 1 2 3 1277.1 980.8 296.3 1201.4 1C30.9 170.5 1280.9 1033.6 192.3 1420.0 1118.1 301. 9 1624.3 1192.0 432.4 4 0.2 0.2 -2.3 0.5 0.4 Domestic 5 6 308.4 -575.4 169.8 -205.7 263.9 -469.5 373.3 -65.5 433.3 78.0 7 8 -7.8 0.8 -. 8 0.1 -7.0 -.4 7.8 -12.2 0.6 9 38.1 135.7 -9.0 602.3 " Investment flows: P u r c h a s e s of p h y s i c a l assets - Capital consumption = Net c a p i t a l formation 1 2 3 • Net 4 acq. of gold & SDKs • 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 values 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 Sheet basis • R e v a l . of SDR h o l d i n g s 962.3 = Change in domestic wealth 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 6 7 8 9 domestic 10 38.1 -9.0 602.3 962.3 T o t a l , all 11 12 13 14 15 16 17 261.1 -42.2 44.7 16.7 -68.3 -60.9 25.6 330.1 1573.6 1861.6 -6. 1 -73.9 -248.0 65. 0 271.7 809.8 978.4 15.2 -47. 7 -213.3 77.8 743.7 1436.4 1175.3 26. 2 -10.3 119.2 126.0 950.9 914.5 659.6 18.7 75.3 178.2 -17.3 Private s e c t o r s , c o n s o l . (2) Sector o a s i s , total H o u s e h o l d sector Farm b u s i n e s s N o n f a r m .noncorp. Business N c n f a r m n o n f i n a n . corp. bus. P r i v a t e finan. institutions 18 19 20 -53.3 -23.3 -25.0 -84. 7 -3.3 -81.5 -32.9 13.4 -51 .3 3.9 -11.6 20.5 90.3 -27.4 117.6 - C h a n g e in eq.in n o n c c r 9 . b u s . 18 P r o o r i e t o r s ' ret invest. 19 Revaluation 20 21 22 23 -111.9 -21 .7 -90.2 751.9 -33.8 735.7 341.3 43.8 297.6 266. 7 -29.9 296.6 -190.7 -76.4 -114.3 24 25 26 -138.2 -8.0 -130.2 531. 3 87.3 444.0 229.7 46.2 133.5 417.1 129.4 237.6 27 28 29 30 31 -227.5 -38.5 -193.0 3.7 0.2 -231.6 -44.5 -240.5 3.0 0.3 -379.3 -34.9 -351.6 6.1 0.5 32 -22.2 -79.1 -126.5 135.7 21 22 23 64. 1 106.8 -42.7 - C h a n g e / f i n . inst.cor p.shares Net p u r c h a s e s Revaluation 24 25 26 -323.3 -59.3 -271 . 3 6 . 6 0.5 -304.4 -73. 1 -235.1 3.3 0.4 + C h a n g e in net assets of public sectors State S local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-soon3. enterprises Monetary authority 27 29 29 30 31 -160.1 -253.7 - C h a n g e in net foreign of U.S. r e s i d e n t s 32 -7.8 -36.6 26.7 36 18322.8 18458.5 18449.5 19051.3 37 5546.1 5724.8 6020.2 6343.3 -22. 3 52. 1 -8.0 31 . 0 45.6 -14.5 in billions of d o l l a r s . assets adjustments: • Nonfinane;al discrepancy • U n a l l o c a t e d financial flows • Unallocated revaluations D o m e s t i c net worth at year-end 20014.1 6 7 38.3 Gross Domestic 115 Lines (2) Lines Data are 10 11 12 l5 14 15 16 17 equities 33 34 35 11.1 -2.3 -35. 7 (1) - C h a n g e in HH ;orp. Net p u r c h a s e s Revaluation Otner -1.5 -11 . 1 -29.3 sectors 11 12 27 - 32 18 - 21 33 34 35 outstanding 36 Product 33 • 34 • 35. 24. 37 June 8, 1995 Net F o r e i g n A s s e t s Net Foreign Assets R.101 Factors Accounting 52 for C h a n g e In U.S. Net Foreign A s s e t s Annual F l o w s Annual Flows 1964 1 U.S. net foreign investment Net U.S. acq. of fgn. assets 2 3 -Net fgn. acq. of U.S. assets 4.1 7.6 3.5 5 9 9. 6 3. 7 1965 5 .0 7 .2 2 3 1966 3,.7 7, 2 3 5 1967 2 .4 10 .3 7 .9 1968 1 .1 9 .8 8 .8 1969 1970 -1 .1 9 .3 10 .4 3.0 7.9 4.9 1971 -10.5 11.5 22.0 1 2 3 4 • U.S.net sales of gold & SDRs 0.5 0. 1 1 .7 0. 6 1 .2 1 .2 -1 .0 -.1 0.6 4 5 « U.S.ret f g n . i n v e s t m e n t , adj. 4.5 6. 0 6 .6 4. 2 3 .5 2 2 -2 . 1 2.9 -9.9 5 • R e v a l u a t i o n of foreign e q u i t i e s 6 held by U.S. r e s i d e n t s C n a n g e in value 7 6 -Net p u r c h a s e s -.7 0.4 6 o! 1 0. 7 -I..0 2 0..6 -1. 4 7 0. 7 ,4 0..9 1, 3 I, 2 2.1 0.2 1. 6 1. 4 3 1. 2 0. 8 4 -1. 7 -2. 0 3 12. 2 12..9 0. 7 3.5 3.5 3. 7 3. 8 5 9 10. 7 4. a -1. 8 3. 0 4. 8 1. 8 6.,1 4. 4 0.1 0. 1 0. 4 0. 3 0. 4 0. 4 2 0.3 0. 4 9 ID 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 value -Net p u r c n a s e s 12 • R e v e l . of U . S . d i r . i n v . a b r o a d 13 Cnange in value 14 - D i r e c t investment (1) 15 - R e v e l . o f IS Change 17 -Direct f g n . d l r . l n v . i n U.S. in value investment (I) • R e v a l u a t i o n o* U.S. official fgn. 18 exchange S net IMF position 19 Cnange in value 20 -Net increase in fgn. liab. 21 • Other 22 * Change revaluations in U.S.net Memo: 23 Net foreign fgn.assets assets o u t s t a n d i n g (1) E x c l u c e s c a p i t a l gains. Data are of d o l l a r s . in b i l l i o n s 1.1 1.9 0.3 0.2 0.1 0.1 0. 4 0. 6 .4 1, 6 -1,.0 0,.5 1,.5 -1.5 -.4 1.1 1.1 1.1 6 7 8 1. 9 4.,0 2 , 1 -4, 3 -2..8 1. 6 .2 0.4 0.7 2.8 3.6 0.8 9 10 11 2 8 5. 9 3. 2 3.,4 8. 4 4. 9 3.7 10.5 6.8 12 13 14 0. 2 0. 9 0. 7 0. 1 0. 9 0. 8 3 0 1. 3 . 5.6 12.1 6.5 1.5 1.5 0.3 0.6 0.4 15 16 17 1 .1 1. 1 2. 1 2. 0 0.,1 0. 3 0. 2 -2.5 -2.5 -1.7 -1.7 18 19 20 1.1 3. 2 -4. 5 1. 0 11. 1 1. 4 -5. 4 -4.0 2.6 7. 0 5 9 3. 8 3 7 4. 0 -• 5 1.5 -13.7 22 50. 2 56. 1 59. 9 63. 6 67. 7 67. 2 68.7 54.9 23 -6 . 4 21 June 8, 1995 Net Foreign Assets Net Foreign Assets R.109 Factors Accounting for Change in U.S. Net Foreign A s s e t s 51 Annual Flows Annual Flows 1954 1956 -.3 1 .2 1.5 0.3 0.5 0.3 1.1 1.6 0.5 1.4 1.4 1958 4,.6 4,. 9 0, 3 0.4 3.8 3.5 1959 -1.9 2.8 4.6 1960 1.8 5.7 3.9 1961 2 .8 6 .2 3 .4 1962 2.3 5.1 2.8 U.S. net foreign investment Net U.S. acq. of fgn. assets -Net fgn. acq. of U.S. assets -.3 8 2.3 1.1 1.7 0 .9 0.9 • U.S.net sales of gold 3 SDRs -1.6 3. 8 2.6 -.8 3.5 3 .7 3.2 - U.S.net fgn.investment, 0.4 0.6 0.2 4 0.5 0.9 0.3 0.4 0.6 0.2 -.4 0.3 0.7 0 .2 0,.9 0,.8 1.2 1.3 0.1 -1. 0 9 0. 1 2.3 2.2 -.1 0.7 1.1 0.4 -.3 -.1 0.2 2 2 2..5 0. 3 -1.6 -1.5 0.1 • R e v a l u a t i o n of U.S. corporate equities held by foreigners Change in value -Net p u r c h a s e s 1.2 0. 4 2. 9 2. 4 0.8 2.3 1.2 1.0 2.4 1.4 -.9 2.0 2.9 0. 2 2. 9 2, 7 -.3 2.6 2.9 • R e v a l . of U . S . d i r . i n v . a b r o a d Change in value - D i r e c t investment (1) 0.2 0. 1 3 0.3 0.4 0.1 0.3 0.5 0.2 « 0.3 0.3 0. 2 0. 5 0. 3 -.1 0.2 0.3 - Reval.of Change -Direct -. 4 -. 4 0. 3 0. 3 -.6 -.6 0.9 0.3 9.4 0.2 0.4 0.2 1.6 0.8 0.2 0.6 2 0. 4 • R e v a l u a t i o n of U.S. official fgn. exchange 5 net IMF position Change in value -Net increase in fgn. liab. 1.6 4.1 7 1.0 0.5 0.1 2. 3 -.9 • Other .-evaluations 0.2 1.5 3.5 4. 0 2.5 0.1 2.6 4. 0 2.5 = Change in U.S.net 28. 7 31.2 31.4 34.0 37. 9 40.4 Memo : Net foreign (1) E x c l u d e s are fgn.dir.inv.in U.S. In value investment (1) 0.6 24. 7 Data in oillio.is of dollars. adj. • R e v a l u a t i o n of foreign equities -1.2 held by U.S. r e s i d e n t s -.2 C h a n g e in value 1 . 0 -Net p u r c h a s e s 0.7 1 .4 0.7 0.1 -1.3 1957 fgn.assets assets outstanding capital gains. June 5, 1995 Net F o r e i g n A s s e t s Net Foreign Assets 50 R . 109 F a c t o r s A c c o u n t i n g for Change in U.S. Net F o r e i g n Assets Annual Flows A n n u a l Flows 1950 1 U . S . net foreign investment 2 Net U.S. acq. of fgn. assets 3 -Net fgn. acq. of U.S. assets 4.9 3.0 -1.9 9.9 9.0 3.0 -.8 2.2 -.8 1.3 1.3 -2.2 1.3 3.5 0.7 1.3 0.7 1.7 -.1 4 • U.S.net sales of gold a S D R s -.6 -2.2 -1.5 .2 5 * U.S.net fgn.Investment, adj. 4.3 7.7 1.5 1.1 • R e v a l u a t i o n of foreign e q u i t i e s 6 held by U.S. r e s i d e n t s 7 C h a n g e in value 8 -Net p u r c h a s e s 0.1 0.1 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 ay f o r e i g n e r s C h a n g e in value -Net p u r c h a s e s 12 * R e v a l . of U . S . d i r . i n v . a b r o a d 13 C h a n g e in value 14 - D i r e c t Investment (1) 21 • Other revaluations 22 = C h a n g e in U.S.net Memo: 23 Net foreign (1) E x c l u d e s Data are fgn.assets assets o u t s t a n d i n g capital in billions gains. of dollars. -.2 - 2 0.4 0.5 0.1 0.2 -.1 -.2 -.2 -.2 0.2 0.2 0.4 0.4 2 0.4 0.4 1.1 0.7 0.7 0.7 0.5 1.3 0.7 0.5 0.2 0.6 0.5 0.4 0.5 0.2 0.1 -.1 1.1 -.1 1952 0.3 1.6 1.2 1953 -1.7 0.5 2.2 0.6 0.1 1.1 0.4 0.5 0.1 1.2 0.1 -.1 0.1 -.1 -.1 0.3 0.3 -.1 -.1 9 10 11 0.9 1.7 0.9 0.8 12 1.5 0.7 13 14 0.2 0.1 0.1 0.3 0.2 15 16 17 -.1 -.1 18 19 20 0.1 0.1 0.2 0.2 0.2 -.2 .2 1.2 1.2 0.4 0.4 0.2 0.2 .5 -.2 0.3 0.1 1.4 -1.0 0.8 1.3 21 3.6 7.9 2.1 1.1 1.0 .2 1.5 1.3 22 15 - R e v a l . o f f g n . d i r . i n v . i n U.S. 16 C h a n g e in value 17 - D i r e c t investment (1) * R e v a l u a t i o n of U . S . o f f i c i a l fgn. 18 exchange $ net IMF position 19 C h a n g e in value 20 -Net increase in fgn. liab. 1951 0.1 0.1 0.1 0.3 0.1 0.3 June 8, 1995 Net Foreign A s s e t s Net F o r e i g n A s s e t s R.109 Factors Accounting for C h a n g e In U.S. Net Foreign A s s e t s 53 Annual F l o w s A n n u a l Flows 1972 1974 -7..0 11 .3 . 18,,3 4.5 17.0 12.5 -1 . .5 24, 2 25., 7 2 -7. 1 1975 2 4.5 -1 .7 1976 24,. 0 28,.8 4..8 - •, 1 24. 0 14 .8 40,.2 25..4 --.1 14., 7 1977 -16 .5 24 .1 40,.6 1978 -3..3 57. 2 60. 5 1979 27..2 58,.0 30..9 .2 1. 2 -1. 2 -16. 3 -2. 2 26. 0 1980 25.7 52.4 26.7 " 25.7 2.3 2.9 0.6 -1.2 -.5 0 . 7 -.5 -1 . 0 -.5 1 .5 0 .6 .9 -.5 -.1 0.4 0.2 0.7 0.4 1 .5 1. 1 - .4 2 .5 3 .6 1 .0 1.8 4.1 2.4 9 10 11 5.8 8.2 2.4 -8.3 -5.5 2.8 -9.8 -9.6 0.2 6. 4 9 .5 3. 1 4.9 5.7 0.9 -.7 0.6 1.3 1 .0 2 .3 1 .3 5 .2 6 .2 1..0 12.0 16.3 4.2 12 13 14 19.5 25.2 5.7 8.9 19.0 10.1 12.0 21 . 0 8.9 -.2 4.6 4.8 15 16 17 « 1 . 0 0 . 9 2.9 5.7 2.8 18 19 20 -.2 -.2 -.1 -.1 21 -13.4 -13.3 22 -4.6 4.6 23 50.3 54.9 . , * 1 . 3 1.3 -18.8 1 . 0 56. 0 . 1 2. 5 2. 6 3 0. 4 0. 8 10.0 21 . 7 11.6 Net U.S. acq. of fgn. assets -Net fgn. acq. of U.S. assets • = net f g n . I n v e s t m e n t , adj. + Rf e v a l u a t i o n 6 7 10,.6 24,.6 14.. 0 U of foreign 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 p u r c n a s e s - R e v a l u a t i o n of U.S. corporate e q u i t i e s held by foreigners C h a n g e in value -Net p u r c h a s e s 30.8 42.3 11.5 22,. 4 38 .5 16,. 1 27,.6 54,.7 27,.1 30.9 56.0 25.1 • R e v a l . of U . S . d l r . i n v . a b r o a d 12 C h a n g e in value 13 - D i r e c t Investment (1) 14 16.9 21.2 4.3 4.1 7.8 3.7 5.. 0 12..9 7..9 6..9 18..8 11 .9 20.7 37.6 16.9 - Reval.of Change -Direct 2.5 2.5 0. 1 0.2 0.1 0. 5 0. 5 3 4 1 • RRe v a l u a t i o n of U.S. official fgn. -.2 e x c h a n g e 3 net IMF position 18 7.9 C h a n g e in value 19 8.1 -Net increase in fgn. liab. 20 -3. 9 81.6 -5.4 7. 2 2. 0 13.4 * Other 25. 4 84. 0 5.6 22. 9 45. 8 38.8 = Change 81 .4 165.4 194. 0 239. 7 278.6 171 . 0 f g n . d i r . i n v . i n U.S. 15 in value 16 investment (1) 17 revaluations in U.S.net Memo: Net foreign assets outstanding (1) E x c l u d e s capital Data are in billions of d o l l a r s . 21 fgn.assets 22 gains. 23 June 8, 1995 Met Foreign Assets Net Foreign Assets R. 109 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 A n n u a l Annual Flows 1981 1982 1983 1984 -24.6 31.0 55.7 -79. 0 19. 7 98. 7 1 U.S. et foreign i n v e s t m e n t 2 Net U.S. acq. of fgn. assets -Net fgn. acq. of U.S. assets 3 31.6 39.2 7.6 29. 9 65. 2 35. 3 4 • U.S.net -1.7 -1.,4 -.1 28. 5 -24.7 5 = U.S.net sales of gold 3 S D R s f g n . i n v e s t m e n t , adj. 29.9 • 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 6 held by U.S. r e s i d e n t s 7 C h a n g e in value 8 -Net purchases -2.7 -2.5 0.2 - 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 p u r c h a s e s 4 1 .! 0 1 .4 5.0 8.7 3.7 -1. 0 -80., 0 1985 1986 1987 1988 -102. 0 17. 5 119. 4 -121 .3 45. 166. 4 -171 .5 37. 4 208,,9 -140. 9 44. 4 185. 3 9 -102., 9 -• 2 .5 -121 . F l o w s 1989 -49. 7 139..0 188. 7 1 2 3 0..1 5 4 -172., 1 -140..8 -50..3 5 .5 -1 . .1 2 0. 9 11 .3 15., 0 3. 7 20.,8 22.. 0 1. 2 8..8 6,.6 -2.. 1 15..5 16..4 0.,9 16..7 33.,9 17.,2 6 7 8 -5.0 -.2 4.8 8. 2 11 ,9 . 3..7 15.1 20. 1 5.0 3., 1 3 -3,. 4 25,. 1 29 . .5 4., 4 25..5 43..4 17 .9 . -8..3 6.. 7 15,. 0 28..2 25. 3 -2..9 41 .2 50. 2 9.. 0 9 10 11 12 + R e v a l . of U . S . d i r . i n v . a b r o a d 13 C h a n g e in value 14 - D i r e c t investment (1) 7.1 22.1 15.0 -19..5 -6 .6 12 .9 -20.9 -9.9 11.1 -21 . 0 -6., 4 14..6 .8 11 . 21 . 1 9..2 18.. 0 30. 2 12. 2 45.. 0 68 . 4 23,. 4 4.. 9 15,. 0 10,, 1 7.. 1 39,. 0 31 .9 , 12 13 14 15 - R e v a l . of f g n . d i r . i n v . i n U.S. 16 C h a n g e in value 17 - D i r e c t i n v e s t m e n t (1) 8.8 34.3 25.2 4 .5 16.. 9 12..5 -2.9 7.5 10.5 2. 1 26 .8 24..7 0., 1 20.. 1 20 . 0 -1 . , 1 34..5 35,.6 3 .6 60,.9 57..3 - 5 .5 62 .3 67 . 7 15 16 17 * R e v a l u a t i o n of U.S. official fgn. Id e x c h a n g e & net IMF p o s i t i o n 19 C h a n g e in value 20 - N e t increase in fgn. 1lab. -1.5 1-3 3.4 .9 2. 7 3 .6 -1.1 -1 . 6 0.. 6 2 .2 3..7 6 .6 3 .0 4,.8 4,.3 -•.6 -1 . ,4 2 .7 4. 0 , 1 .7 26..5 24 .8 18 19 20 9 10 11 21 • O t h e r 22 = C h a n g e 4.2 6 .5 65.1 -8 . 3 8 .7 < gn.assets 33.3 1 .6 11.3 -117 . 0 - 9 2 .5 assets outstanding 311.8 313 .5 324.8 207 . 7 revaluations in U . S . n e t Memo: 23 Net foreign (1) E x c l u d e s c a p i t a l Data are 1.1 gains. in b i l l i o n s of d o l l a r s . 115 . 2 19 .2 -10,.6 47 .6 58 .2 5. 0 - 4 .6 -9 .7 11 . 1 -83 . 1 -53 . 3 32 . 1 -51 . 1 60 .6 -93 . 0 - 1 4 4 .2 -40 . 1 21 -100 . 6 22 -244..8 23 June 8, 1995 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 R.109 Factors Accounting for C h a n g e in U.S. Net F o r e i g n A s s e t s ^ g- Annual F l o w s 1 2 3 Annual Flows 1990 1991 1992 1993 -51..8 86, 3 138..2 -46.6 31.0 77.6 -85,. 0 110..6 195..6 -82 .8 186 .5 269 .3 1994 - 1 8 8 .9 123 .7 312 . 7 .4 U.S. net foreign investment Net U.S. acq. of fgn. assets -Net fgn. acq. of U.S. assets 1 2 3 -.2 2. 3 - •.5 -46.8 -82.,7 - 8 3 .3 -17, 2 -9. 8 7..4 18.1 48.8 30.7 -11..5 19..2 30..7 59,. 0 119.. 6 60,.6 -10 .3 32 . 7 43 . 0 9 10 11 -13..5 -29,.5 -16.. 0 39.7 50.1 10.4 34., 1 28, 3 -5. 8 19,.3 39,.8 20 .5 -11 . 4 -11 . 1 , 0 .3 - R e v a l u a t i o n of U.S. corporate equities held by foreigners Change in value -Net p u r c h a s e s 9 10 11 12 13 14 30. 6 55..5 24. 9 -1.2 29.1 30.3 -23.,4 15.. 0 38,, 4 -18,.4 39,. 4 57,. 9 58,. 4 58,.4 + R e v a l . of U . S . d i r . i n v . a b r o a d Change in value -Direct investment (1) 12 13 14 15 16 17 -16. 4 31 .5 47. 9 -2.4 23. 7 26.1 -4. 7 5. 2 9. 9 -1 . , 7 19,. 7 21 . 4 60.. 1 60.. 1 - Reval.of Change -Direct 18 19 20 5. 7 7. 7 2. 0 0.1 -5.3 -5.9 -2.. 1 -3. 7 -1 .6 0.. 7 1 ,6 . 0 ,8 5..7 , 1 -5. 8 4 -• 5 -52,. 0 6 7 8 2 -100. 5 — 189,. 4 • U.S.net sales of gold 8 SDRs 4 = U.S.net fgn . I n v e s t m e n t , adj. 5 • R e v a l u a t i o n of foreign equities hela by U.S. r e s i d e n t s C h a n g e in value -Net p u r c h a s e s fgn . dir . inv.in U.S. 15 in value 16 investment (1) 17 • R e v a l u a t i o n of U.S. official fgn. exchange S net IMF position 18 C h a n g e in value 19 -Net increase in fgn. liab. 20 » Other revaluations 21 -19. 1 -11.9 22. 6 22 -22. 2 -79.1 -126. 5 -160.. 1 -253., 7 = Change 23 -266. 9 -346.0 -472. 5 -632. 6 -386. 3 Memo: Net foreign -71 .2 (1) E x c l u d e s Data are in b i l l i o n s of d o l l a r s . 6 7 8 in U.S.net 21 fgn.assets 22 assets outstanding capital gains. 23 J u n e 6 , 1995 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s R . 1 2 D e t a i l s of C h a n g e s 56 In S t o c k s of T a n g i b l e A s s e t s Annual F l o w s Annual Flows 1945 1946 1947 1948 1949 1950 1951 1952 1953 1 P u r c h a s e s of o h y s i c a l assets H o u s e h o l d sector 2 Farm b u s i n e s s 3 .Nonfarm -»oncorp. b u s i n e s s 4 N o n f a r m n o n f l n a n . corp. bus. 5 Financial institutions 6 47.3 22. 0 2.2 4.0 18.8 0.2 55.5 30.6 1.5 5.0 18.1 0.3 70.0 36.3 5.9 6.9 20.7 0.3 61.5 38.2 3.3 4.7 14.9 0.3 85.8 47.8 5.1 8.6 24.0 0.4 90.3 47.6 5.4 6.3 30.6 0.5 83.3 46.8 5.5 5.3 25.3 0.4 89.0 51.8 4.7 5.8 26.1 0.6 1 2 3 4 5 6 7 Capital consumption H o u s e h o l d sector 6 Farm b u s i n e s s 9 Nonfarm noncorp. business 10 N o n f a r m n o n f l n a n . corp. bus. 11 Financial institutions 12 28.4 14.6 1.3 5.0 7.4 0.2 28.6 14.1 1.6 3.7 9.0 0.2 33.0 16.2 1.9 4.2 10.4 0.3 36.1 18.0 2.1 4.5 11.2 0.3 39.5 20.0 2.4 4.7 12.0 0.3 45.7 23.3 2.8 5.4 13.8 0.3 49.7 25.8 3.0 5.7 14.8 0.4 53.3 28. 0 3.2 5.9 15.8 0.4 7 8 9 10 11 12 13 Net capital formation H o u s e h o l d sector 14 Farm b u s i n e s s 15 Nonfarm noncorp. business 16 N o n f a r m n o n f l n a n . coro. bus. 17 Financial institutions 18 18.8 7.4 1. 0 -1. 0 11.4 26.9 16.5 37.0 20.0 4.0 2.6 10.3 25.4 20.1 1.2 0.3 3.7 0.1 46.4 27.8 2.7 3.8 12.0 0.1 44.7 24.2 2.7 0.9 16.7 0.1 33.6 21.1 2.5 -.4 10.4 0.1 35.7 23.8 1.5 -.2 10.3 0.3 13 14 15 16 17 18 19 Net foreign investment (1) Net f i n a n c i a l Investment: Private sectors 20 H o u s e h o l d sector 21 Farm business 22 N c n f g - m n o n c o r p . Business23 N o n f a r m nonf in. corp. bus. 24 P r i v a t e financial insts. 25 4.9 9.9 3.0 1.3 -2.2 0.7 0.3 -1.7 19 -1.0 9.6 -.9 1 . 0 -11.7 1.0 -3.8 2.3 0.1 -1.3 -5.7 0.7 -5.9 4.8 -3.9 -2.6 -5.1 1.0 2.8 0.6 -1.2 -.3 2.7 0.9 -8.0 4.6 -2.7 -3.8 -7.9 1.8 -.9 10.7 -2.7 -.9 -8.5 0.5 13.1 17.2 -2.5 0.4 -3.5 1.4 8.4 12.1 -1.6 0.2 -4. 1 1.7 20 21 22 23 24 25 14.2 -.1 14.3 8.7 -.2 8.8 -3.4 -.2 -3.3 4.3 -3.2 7.5 4.5 -1.2 5.7 -10.6 -6.1 -4.6 -10.9 -3.5 -7.5 0.1 0.1 26 27 28 29 30 0.2 1.9 1.4 -3.0 -2.2 0.8 31 45.6 15.8 8.7 5.8 10.2 -5.0 0.2 33. 1 12.8 3.2 6.7 9.0 -1.2 0.3 4.1 3.0 -4.1 2.3 3.7 1.0 0.1 0.9 -2.2 -1.9 2.3 1.8 -1.0 32 33 34 35 36 37 38 26 27 29 29 30 Public s e c t o r s State S local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-soons. enterprises Monetary authority 1.2 0.2 0.9 31 Unallocated 4.7 f i n a n c i a l flows 0.1 19.3 7.2 -3.4 5.5 7.6 -2.2 0.2 -.3 1 .1 -2.6 1.8 1.2 1.9 58.5 23.4 19.4 13.3 5.4 69.6 22.9 20.0 24.2 2.5 19.3 10.0 9.3 -.8 0.9 3 3.7 2.9 -6.3 -.6 45.6 11.6 13.0 14.3 6.7 33.1 12.3 13.5 2.6 4.9 4.1 3.9 5.2 -5.9 0.9 0.9 0.7 2.0 -.5 -1.3 39 40 41 42 43 19.3 3.6 5.1 2.4 8.0 0.2 19.0 6.9 1.3 3.2 7.4 0.2 10.1 6.7 0.8 2.0 0.7 -.1 7.9 7.6 -1.8 1.2 0.7 0.2 24.4 6.0 11.7 2.2 4.4 0.1 229 9.0 7.3 2.3 4.2 0.1 16.6 12.0 1.1 2.2 1.3 12.7 9.5 -.4 1.7 1.9 44 45 46 47 48 49 58.5 18.8 8.3 11.9 14.2 -5.3 39 R e v a l u a t i o n s by type of asset Residential structures 43 Plant a"d e q u i p m e n t 41 Inventories 42 Consumer durables 43 44 C h a n g e in land v a l u e s H o u s e h o l d sector 45 Farm business 46 Nonfarm noncorp. business 47 N o n f a r m n o n f l n a n . corp. bus. 48 P r i v a t e financial lnsts. 49 55 56 57 58 59 60 61 62 63 64 65 66 M e m o : Total gross domestic I n v e s t m e n t , flow of funds b a s i s P r i v a t e sectors H o u s e h o l d sector Farm Business Nonfarm noncorp. business N o n f a r m nonf in. corp. bus. Pvt. financial i n s t i t u t i o n Public sectors S t a t e & local g o v e r n m e n t s U.S. government Govt.-spons. enterprises M o n e t a r y authority (1) L i n e s 20 Data are 31. in b i l l i o n s of d o l l a r s . * - .6 69.6 17.2 20.8 12.3 13.3 -5.9 0.1 32 R e v a l . of o h y s i c a l assets H o u s e h o l d sector 33 Farm business 34 N o n f a r m noncorp. b u s i n e s s 35 N o n f a r m n o n f l n a n . corp. bus. 36 - I n v e n t o r y v a l u a t i o n ad). 37 Financial institutions 38 50 Adj. to capital c o n s u m p t i o n H o u s e h o l d sector 51 Farm business 52 Nonfarm noncorp. business 53 N o n f a r m n o n M n . corp. bus. 54 1.3 9.1 0.1 * . 2.1 . • " . . • " " * -2.1 " " " * " * 50 51 52 53 54 47.5 46.2 31.6 1.3 5.0 7.1 1.2 65.9 51.6 32.9 1.6 3.7 12.4 1.0 72.8 64.1 41 . 1 1.9 4.2 15.6 1.3 60.9 64.3 38.7 2.2 4.5 17.7 1.2 82.2 77.8 52.3 2.4 4.7 16.1 2.1 94.0 89.4 58.3 2.8 5.4 22.0 0.9 85.8 96.4 64.0 3.0 5.7 21.8 1.8 86.5 97.3 63.9 3.1 5.9 22.1 2.3 55 56 57 58 59 60 61 1.2 0.2 0.9 14.3 -.1 14.3 0.1 8.7 -.2 8.6 -3.4 -.2 -3.3 4.6 -3.2 7.5 0.1 4.6 -1.2 5.7 0.1 -10.8 -3.5 -7.5 0.1 0.1 -10.6 -6.1 -4.6 0.1 0.1 62 63 64 65 66 0.1 " * * * * June 8, 1995 Tangible Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s R . 1 2 D e t a i l s of C h a n g e s in S t o c k s of T a n g i b l e A s s e t s 57 Annual F l o w s Annual Flows 1954 1955 1956 1957 1958 1959 1960 1961 1962 1 2 3 4 5 6 85.9 52.1 3.9 6.2 23.0 0.7 107.8 63.5 3.2 7.6 32.6 0.9 110.3 62.6 2.6 7.3 37.0 0.9 110.3 62.3 3.8 7.6 35.7 0.9 101.6 59.0 6.0 7.7 28.0 0.9 121.6 72.1 3.0 7.7 37.8 1.1 122.1 71.2 4.7 7.4 37. 7 1 . 0 119.8 69.5 5.0 7.8 36.5 1. 0 134.9 77.4 4.9 9.0 42.2 1.3 P u r c h a s e s of p h y s i c a l assets H o u s e h o l d sector Farm b u s i n e s s Nonfarm noncorp. business N o n f a r m n o n f i n a n . corp. bus. Financial institutions 1 2 3 4 5 6 7 8 9 10 11 12 57.6 30.9 3.3 6.1 16.7 0.4 60.6 32.5 3.4 6.4 17.8 0.4 67.5 36.3 3.6 7.0 20.0 0.5 72.9 39.1 3.7 7.5 22.0 0.6 76.2 41.2 3.8 7.6 23.0 0.6 79.7 43.3 3.9 7.8 24.1 0.6 82.5 44,8 3.9 8.0 25. 1 0.7 85.1 46.5 3.9 8.2 25.8 0.7 87.7 47.9 4.0 8.4 26.8 0.7 Capital consumption H o u s e h o l d sector Farm b u s i n e s s Nonfarm noncorp. business N o n f a r m n o n f i n a n . corp. bus. Financial Institutions 7 8 9 10 11 12 13 14 15 16 17 18 28.3 21.2 0.6 47.2 31 . 0 -.2 1.2 14.8 0 . 4 42.9 26 . 2 -1.0 0.3 17.0 0.4 37.4 23. 1 25.4 17.9 2.2 0.1 5. 0 0.3 41.9 28.8 -.9 -.1 13.7 0.4 39.6 26.4 0.8 -.7 12.6 0.4 34.7 23.0 1 . 0 -.4 10.7 0.3 47.2 29.6 1 . 0 0.6 15.5 0.6 Net capital formation H o u s e h o l d sector Farm b u s i n e s s N o n f a r m n o n c o r p . business N o n f a r m n o n f i n a n . corp. bus. F i n a n c i a l institutions 13 14 15 16 17 18 -1.3 4.6 3.5 12.1 1 . 0 -.3 -10.7 1.5 7.8 14.9 -.1 -.1 -7 . 7 0 . 9 Net foreign investment (1) Net f i n a n c i a l investment: P r i v a t e sectors H o u s e h o l d sector Farm b u s i n e s s N o n f a r m noncorp. business N o n f a r m nonfin. corp. bus. P r i v a t e financial insts. 20 21 22 23 24 25 1.4 -3.1 4.4 -2.6 -4.3 2. 1 6.3 0.3 19 -.3 20 21 22 23 24 25 7.6 5.4 -.6 - . 2 3.0 -3.4 3.2 0.2 -1.2 -7.1 1.6 26 27 28 29 30 -9 . 3 -3.8 -5.2 31 1 . 1 2.5 32 33 34 35 36 37 38 1 . 9 - .4 -2.0 2.5 1.5 -.3 20.9 2.9 -.6 6.2 10.5 -1.3 0.2 39 40 41 42 43 1.9 4.2 2.0 -1.5 -2.9 44 45 46 47 48 49 12.0 7 . 3 3.4 0 . 9 0.1 0 . 3 50 51 52 53 54 * " " " 0 . 9 -3.3 4.2 0 . 1 0.1 13.7 0 . 4 -1.9 1.8 2.8 2.3 3.4 5.4 0.9 0.1 -4.2 1.3 6.1 11.0 -.9 0.7 -7.9 3.2 13.3 12.8 -1 .1 0.4 -1.9 3.2 10.6 12.9 -1 . 0 - .6 -3.5 2.9 -15.8 -5.4 -10.5 -7.3 -4.3 -2.8 -1.9 -3.5 1.5 -9.3 -3.3 -5.6 -7.3 -2.9 -4.9 » Public sectors S t a t e 8 local g o v e r n m e n t s U.S. government G o v t . - s p o n s . enterprises M o n e t a r y authority 2S 27 28 29 30 Unallocated 31 0. 1 * -.2 -1 . 6 2.0 -2.4 -1.2 36 . 1 3.2 2.4 6.3 16.0 -2.7 0 . 4 9 . 0 -4. 1 1 . 4 3.5 6 . 6 -1.5 0 . 1 6 . 1 1 . 3 0 . 6 2.7 1 . 2 - . 3 0 . 1 5.2 -2.8 - . 6 4. : 4. 0 3 0. 1 -1.9 -4.9 0.9 3.3 -1.5 -.2 0.1 -1.0 -4.2 0 . 3 3.3 - . 4 0.3 0.2 0.3 -7.4 1 . 1 5.3 1 . 0 20.9 8.1 13.8 1.4 -2.4 36 . 1 4.9 20.5 4.9 5.8 9 . 0 1 . 2 8. 9 2.5 -3.6 6 . 1 0 . 9 2.5 0.6 2. 1 5.2 2.1 4.3 -.5 - . 6 -1.9 1.8 -2.0 0.8 -2.6 -1.0 1.4 -1.0 -1.3 0.3 0.8 2.4 0.2 -3.1 R e v a l u a t i o n s by type of asset Residential structures Plant and equipment Inventories C o n s u m e r durables 21.0 9.6 4.9 2. 0 4.7 - . 1 27. 1 10.9 6 . 6 2.3 7.1 0.2 23.2 12.1 5.7 1 . 4 3.9 0 . 1 21 . 2 10.6 7 . 7 1 . 0 2.0 14.8 9.4 1.9 1 . 4 2.0 0 . 1 24.1 12.3 5.5 2.6 3.6 0.2 21 .6 11.1 5.4 2.0 2.9 0 . 1 C h a n g e in land values 44 H o u s e h o l a sector 45 Farm b u s i n e s s 46 N o n f a r m noncorp. b u s i n e s s 47 N o n f a r m nonfinan. coro. bus. 48 Private f i n a n c i a l insts. 49 , " 17.0 9 . 0 6.3 1 . 1 0.5 0. 1 * * * * * " " " " " " -6.2 84. 6 93.5 57.6 3.3 6. 1 22.9 3.6 105.3 104.4 66 . 7 3.4 6.4 25.5 2.4 115.2 113.7 74.6 3.6 7.0 26.3 2.3 115.4 118.0 77 . 1 3.7 7 . 5 28. 0 1 . 7 62 63 64 65 66 -8.9 -3.8 -5.2 0.9 -3.3 4.2 1.4 -3.1 4.4 -2.6 -4.8 2.1 0.1 0 . 1 * 0 . 1 103.6 119.4 7 7.6 3.8 7 . 6 27 . 6 2.7 -15.3 -5.4 -10.5 0.1 " " 0.1 " 117.6 124.9 77.4 3.9 7.8 33.5 2.3 126.2 128. 1 82.1 3.9 8.0 29.8 4.2 123. 9 133. 1 32.3 3.9 8.2 34.6 4.1 -7.2 -4.3 -2.8 0.1 - .2 -1.9 -3.5 1.5 0.1 -9.2 -3.8 -5.6 0.1 0.1 - .6 0.3 in b i l l i o n s of d o l l a r s . flows Adj. to capital consumption H o u s e h o l d sector Farm b u s i n e s s N o n f a r m noncorp. business N o n f a r m n o n f i n . corp. bus. » Memo: Tootal 137 .8 145.5 90.3 4.0 8.4 38.7 4.1 -7.7 -2.9 -4.9 0.1 0.1 financial R e v a l . of physical assets 32 H o u s e h o l d sec tor 33 Farm business 34 N o n f a r m noncorp. business 35 N o n f a r m nonfinan. corp. bus. 36 - I n v e n t o r y valuation adj. 37 Financial institutions 38 39 40 41 42 43 50 51 52 53 54 gross domestic i n v e s t m e n t , flow of funds basis Private s e c t o r s H o u s e h o l d sector Farm b u s i n e s s N o n f a r m n o n c o r p . business N o n f a r m n o n f i n . corp. bus. Pvt. f i n a n c i a l institution 55 56 57 58 59 60 61 Public s e c t o r s State 8 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-spons. enterprises Monetary authority 62 63 64 65 66 (1) Lines 20 Data are 19 - . 6 " 55 56 57 58 59 60 61 " 0.4 17.8 18.6 -2.2 -.1 -.4 1.9 26 31 . June 8, 1995 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s R. 12 D e t a i l s of C h a n g e s in S t o c k s of T a n g i b l e A s s e t s Annual Flows Annual Flows 1 P u r c h a s e s of p h y s i c a l assets H o c - a h o l d sector 2 Farm b u s i n e s s 3 4 N o n f a r m noncorp . b u s i n e s s N o n f a r m n o n f i n a n . corp. bus. 5 6 Financial institutions 1963 1964 1965 1966 1967 1968 1969 1970 1971 145.2 84.8 5.3 9.6 44.4 1 . 1 158.6 92.3 3.8 10.9 49.8 1.8 181.4 99.4 6.4 12.7 60.8 2.0 198.9 102.7 5.7 14.0 74.5 2.0 198.6 104.9 7.5 12.9 71.2 2.2 220.9 117.8 7.8 16.7 75.3 3.4 241 .4 125.2 6.8 20.7 85.2 3.5 235.7 123.3 6.6 20.9 81.6 3.4 272.8 147.2 9.4 24.7 87.3 4.1 128. 3 68.1 5.2 12.0 41 . 1 1.5 141.5 75.9 5.7 13.2 45.0 1.7 154.6 83. 0 6.1 14.3 49.4 1.8 169.4 90 . 9 6.5 15.7 54.2 2.1 7 8 9 1 0 11 12 81 . 1 40.3 0.5 6.6 32.2 1.5 103.4 56.3 3. 0 9.0 33. 1 2.0 13 14 15 16 17 18 3.0 1 2 3 4 5 6 7 Cap ital c o n s u m p t i o n H o u s e h o l d sector 8 9 Farm b u s i n e s s N o n f a r m noncorp . b u s i n e s s 10 N o n f a r m n o n f i n a n . corp. bus. 11 Financial institutions 12 91.2 49.8 4.0 8.6 27.9 0.8 95. 6 52.2 4.2 9.1 29.3 0.9 100.6 54.4 4.3 9.6 31.3 1. 0 107.5 57.4 4.6 10.3 34.1 1 . 1 116.8 62.2 4.9 11.1 37.3 1.3 13 Net capital formation H o u s e h o l d sector 14 Farm business 15 Nonf arm noncorp. b u s i n e s s 16 Nonf arm n o n f i n a n . corp. bus. 17 Financial institutions 18 54.0 35.0 1.3 0.9 16.5 0.3 63.0 40.1 -.3 1.8 20.5 0.9 80.8 45. 1 2. 1 3.1 29.5 1 . 1 91.4 45.4 1 . 1 3.7 40.4 0.9 81 .8 42.6 2.6 1.8 33.9 0.9 19 Net foreign investment (1) Net financial investment: P r i v a t e sectors H o u s e h o l d sector Farm b u s i n e s s Nonfarm noncorP. business N o n f a r m nonfin. core. bus. P r i v a t e financial insts. 4.1 5.9 5.0 -10.5 19 5.9 12.6 -1.4 -.9 -5. 0 0.6 13.2 21.8 0.3 -1.8 -8.9 1 .8 7.3 24.2 -2. 0 -3.1 -13.8 2.0 15.1 37.4 -1 . 0 -3.7 -19.9 2. 1 24.7 42.2 -2.6 -1 .8 -15.5 2.3 10.0 34.2 -2.5 -4.7 -19.4 2.4 -3.0 36 . 4 -1.0 -7.5 -27. 0 -3.9 17.1 54. 7 -.5 -6.6 -27. 7 -2.9 16.1 46.9 -3.0 -9.0 -19.2 0.4 20 21 22 23 24 25 -3.9 -2.7 -1.3 -7.0 -3.0 -3.5 -3.0 -2.5 -.5 -5.7 -4.1 -1.6 -18.7 -5.0 -13.8 -13.1 -4.5 -8.6 0.1 -.5 -1.9 -7.6 5.7 -.1 -22.2 -9.0 -13.2 - . 1 -32.3 -9.0 -23.5 0.1 " 26 27 28 29 30 2.0 -.3 0.6 -5.7 -3.6 5.7 31 12.5 -2.7 0 . 7 8.7 5.0 - .5 0.3 14.4 -8.1 4.7 8.7 7.4 -1.2 0.5 48.5 15.4 1.9 13.3 15.0 -2.1 0.8 20 21 22 23 24 25 26 27 28 29 30 Public s e c t o r s State 5 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-soons. enterprises Monetary authority 31 Unallocated financial f lows 32 R e v a l . of p h y s i c a l assets 33 H o u s e h o l o sector 34 Farm o u s i n e s s Nonf arm noncorp. b u s i n e s s 35 N o n f a r m n c n f i n a n . corp. bus . 36 - Inventory v a l u a t i o n adj. 37 38 Financial institutions -5.0 -11.2 3.8 2. 1 0.1 0.4 3.7 * 2.4 * 92.9 49.7 2.5 4.7 34.1 1.9 1 . 1 99.9 49 . 2 1 . 1 7.5 40.2 1.9 -1.1 " " " 4.2 3.8 8.2 36.4 10.2 0 . 9 10.4 12.5 -1.6 0.8 98.5 43.5 4.9 19.9 25.3 -3.7 1 . 3 95.9 36.6 7 . 6 18.4 26 . 3 -5.9 1 . 1 79 . 9 26.2 2.2 14.7 28.8 -6.6 1.4 116.8 41.4 8. 1 26.0 36.4 -4.6 2.3 32 33 34 35 36 37 38 116.8 53. 7 52. 1 10.1 -4.1 39 40 41 42 43 39 R e v a l u a t i o n s by type of asset 40 Residential structures Plant and e q u i p m e n t 41 Inventories 42 Consumer d u r a b l e s 43 -5.0 -6 . 3 3.1 - . 4 -1 . 4 12.5 10.0 6.2 0.5 -4.2 14.4 6.1 11.6 4.6 -7.9 48.5 26.6 19.7 3.0 -.7 36 .4 14.9 17.5 0 . 4 3.5 98.5 53.3 34.9 6 . 2 4.1 95.9 44.5 36.5 11.5 3.3 79.9 22.2 44. 0 4.6 9 . 1 44 C h a n g e in land values 45 H o u s e h o l d sector 46 Farm business 47 Nonf arm noncorp. o u s i n e s s 48 Non farm nonfinan. corp. bus. 49 P r i v a t e financial insts. 27.6 14.8 7.3 2.3 3.1 0 . 1 19.9 4.6 8.4 1.8 4.6 0.5 26.6 7.3 10.1 2.9 6.4 0. 1 31.8 11.8 9.3 3.9 6.4 0 . 4 35.0 14.7 8.9 4.4 6.8 0 . 2 58. 3 29.5 8 . 6 9 .6 10.0 0 . 6 52. 2 14.9 6 . 0 8.1 16.0 7.2 45.8 14.6 7.1 7.7 14.7 1 . 7 * * * * * * * " " " 50 Adj. to capital c o n s u m p t i o n H o u s e h o l d sector 51 52 Farm business Non farm noncorp. b u s i n e s s 53 54 N o n f a r m nonfin. corp. bus. 55 56 57 58 59 60 61 « " M e m o : Total gross domestic investment, flow of funds basis 147.2 Private sectors 151.0 Household sector 97 . 4 Farm business 3.9 Non farm noncorp. b u s i n e s s 8.6 N o n - a r m nonfin. corp. bus. 39.4 Pvt. financial institution 1.7 62 63 64 65 66 Public sectors State 3 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt.-spons. enterprises Monetary authority (1) Lines Data are 20 * 26 * 31. in b i l l i o n s of d o l l a r s . -3.8 -2.7 -1.3 0.1 0.1 . « -.1 " » 59.1 16.6 14.5 9.8 16.5 1 . 7 44 45 46 47 48 49 * 50 51 52 53 54 164.8 171.7 114.0 4.1 9. 1 40 . 9 3.5 185.8 188.6 123. 6 4.4 9.6 47. 1 4. 0 208.2 213.8 140.2 4.7 10,3 54. 7 4.0 204.6 223.1 147. 1 4.9 11.1 55.7 4.3 217 .8 230. 9 152.0 5.3 12.0 56.2 5.4 236.5 238. 1 161.6 5.8 13.2 58.2 -.6 230.5 252. 6 178. 0 6.1 14.3 54.0 0.2 256 . 6 288.8 196.1 6.5 15.7 68.3 4.2 55 56 57 58 59 60 61 -6.9 -3.0 -3.5 0.1 -.5 -2.9 -2.5 -.5 0.1 -5.6 -4.1 -1.6 0 .1 -18.5 -5.0 -13.8 0.2 -13.1 -4.5 -8.9 0.3 -1.6 -7.6 5.7 0.2 0.1 -22. 1 -9 . 0 -13.3 0.2 0.1 -32.2 -9.0 -23.6 0.3 0. 1 62 63 64 65 66 June 5, 1995 Tangible Asset Holdings Tangible R.12 Details of C h a n g e s in S t o c k s of T a n g i b l e Asset Assets Holdings 59 Annual Flows Annual 1975 1976 1977 1978 1979 1980 Flows 1 2 3 4 5 6 316.4 173.1 8.8 30.7 98.9 5.0 367.2 192.0 12.2 35. 1 121 . 7 6.1 368.8 184.5 10.0 30.2 136.9 7.2 360.4 196.4 16.8 23.6 116.0 7.6 446.4 241 .9 14.3 27.1 155.1 8.0 540.9 290.3 22.5 35.8 183.9 8.4 636.3 331.6 21. 0 47.5 221.6 14.6 694 348 24 60 241 19 .5 .3 .7 .2 . 4 .8 680.1 329.3 13.7 63.3 251 .3 22.4 P u r c h a s e s of p h y s i c a l a s s e t s Household sector Farm business Nonfarm noncorp. business N o n f a r m n o n f i n a n . corp. bus. Financial institutions 1 2 3 4 5 6 7 9 9 10 11 12 186.3 98.7 7.2 17.4 60.5 2.5 203.8 108. 1 7.9 19.3 65.6 2.9 234.1 122.1 9.1 22.2 76.8 3.8 272.2 138.7 10.7 25.6 92.2 4.9 301.4 153.3 11.8 27.8 102.5 5.9 336.4 170.6 13.2 30.9 114.8 6.9 380.2 191.1 14.9 35.4 131.1 7.7 4 3 6 .2 2 1 6 .3 17 . 0 41 .8 151 .6 9 .1 498.1 246.1 19.5 48.7 173.2 10.6 Capital consumption Household sector Farm business Nonfarm noncorp. business Nonfarm nonfinan. coro. bus. Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 130.1 74.4 1.5 13.3 38.4 2.6 163.4 83.9 4.3 15.8 56.1 3.2 134.7 62.3 0.9 7.9 60.1 3.4 145.0 88.6 2.5 -.7 52.6 2.1 204.5 119.7 9.3 4.9 69.1 1.6 256.1 140.5 6.1 12. 1 90.6 6.9 2 5 8 .2 131 .5 7 .7 18 .5 8 9 .8 10 .7 181.9 83.2 -5.8 14.6 78.1 11.8 Net capital formation Household sector Farm business Nonfarm noncorp. business N o n f a r m nonfinan. corp. bus. Financial institutions 13 14 15 16 17 18 25. 7 N e t f o r e i g n i n v e s t m e n t (1) Net f i n a n c i a l investment: Private sectors Housenold sector Farm business Nonfarm norcoro. business N o n f a r m n o n f in. c o r p . b u s . Private financial insts. 20 21 22 23 24 25 88.2 57 . 7 6.1 -2.0 23.7 2.7 19 -7.0 4.5 -1.5 24.0 14.8 -16.5 -3.3 27 .2 20 21 22 23 24 25 10.3 50. 0 -1.4 -13.3 -24.9 -.2 « 73.4 -3.7 -15.8 -56.6 2.7 0.1 60.7 -.7 -7.9 -49 . 4 -2.6 93.3 96.3 -5.6 2.0 5.2 -4.6 66.2 34. 7 -2.0 0.7 -19.6 2.3 35. 7 82.3 -9 . 0 -4.9 -40.6 7.3 33.8 71 . 1 -5.2 -12.1 -33. 7 13.6 70 . 9 99 . 1 -6 .8 - 1 8 .5 - 1 7 .6 14,. 7 81.2 137.8 6.3 -14.6 -54.3 6.0 26 27 28 29 30 -17.5 1.2 -18.9 0.1 0 . 1 -1.1 4.5 -5.7 0.1 0.1 -12.5 -3.2 -9 . 6 0.3 0.1 -79.6 -5.0 -74.9 0.2 -61 . 1 -2.0 -59.4 0.3 0.1 -44.0 11.3 -55.6 0.3 33.2 5.0 -38.6 0.2 - 1 6 ,. 7 5,.6 -22.6 0..2 0,. 1 -63.3 -1.9 -61.5 31 0 . 2 5.5 9 . 6 -8.2 -3.9 - 2 7 .. 0 11.0 " 10.3 * 19 0.1 Public sectors State S local governments U.S. government Govt.-spons. enterprises Monetary authority 26 27 28 29 30 7.8 Unallocated 31 financial flows 32 33 34 35 36 37 38 186.0 74.7 17.6 37. 7 47. 0 -6.6 2.4 248.3 57.2 29.0 40 . 4 67.5 -20. 1 4.6 395.1 139.3 14.1 50.4 144.1 -39.5 7.7 275.3 103.7 7.2 41 . 0 106.4 -11.0 6 . 0 261.2 109.8 7.4 45.2 76 . 7 -14.9 7.2 371 .8 171 . 1 11.6 68.4 98.9 -16.7 5.2 506.4 219.6 32.4 87.5 135.9 -25. 1 5.9 618.,6 235.7 23. 4 121 .5 188. 8 -41 .6 7. 6 670.7 226.0 35.6 124.9 231.3 -43. 0 9.8 R e v a l . of o h y s i c a l a s s e t s Household sector Farm business Nonfarm noncorp. business N o n f a r m n o n f i n a n . corp. bus. - I n v e n t o r y valuation adj. Financial institutions 32 33 34 35 36 37 38 39 40 41 42 43 186.0 103.9 66.2 19.3 -3.4 248.3 105.1 87 . 7 50.8 5.2 395.1 117.2 177.5 55.8 44.6 275.3 103.5 137. 1 10.5 24.2 261.2 126.1 100.9 18.6 15.6 371 .8 196.9 132.1 21 .6 21.3 506.4 242.7 175.0 55.8 32.8 618. 6 258. 1 217. 1 86.5 58. 9 67 0.7 241 . 4 274.5 91 . 1 63.7 R e v a l u a t i o n s by t y o e of a s s e t Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables 39 60 41 42 43 44 45 46 47 46 49 101.3 40.5 23.9 15.6 19.3 2.0 154.4 49.0 51 .6 21 . 0 29 .8 3.0 152.8 57 . 3 35. 0 20.3 35. 9 4.2 176.7 83.0 45.5 14.5 29 . 4 4.3 216.7 94.2 68.8 21 .2 29 .5 3. 1 228.1 113.3 50.5 23.8 36.6 3.4 330.4 152.9 38. 1 37 . 9 46. 6 4.9 426. 4 210. 2 99 . 7 52. 9 57.9 5. 7 431.6 215.0 72. 1 72. 1 61.9 10.4 C h a n g e in land v a l u e s Household sector Farm business Nonfarm noncorp. business Nonfarm nonfinan. corp. bus. P r i v a t e f i n a n c i a l insts. 44 45 46 47 48 49 A d j . to c a p i t a l c o n s u m p t i o n Household sector Farm business Nonfarm noncorp. business N o n f a r m n o n f in. c o r p . b u s . 50 51 52 53 54 50 51 52 53 54 * * " * * " " , " * -.3 * -.3 __ 4 4 55 56 57 58 59 60 61 339.2 326.7 223. 1 7.4 17.4 74.2 4.5 366.1 3 6 7 .8 265.5 8.5 19.3 65.9 8.5 356.3 370.0 245.2 9.3 22.2 89. 0 4.3 374. 1 453.3 292.7 11.3 25.6 121.3 2.4 451.5 512.6 326.7 12.2 27 .8 136. 1 9.7 532.6 575.9 373. 1 13.5 30.9 143.7 14.7 636.8 669.5 402.7 15.8 35.4 188.2 27.3 748. 6 765. 1 447. 4 17. 9 41 .8 224. 6 33. 4 62 63 64 65 66 -17.5 1.2 -19.1 0.3 0.1 -1.6 4.5 -6.5 0.3 0.1 -13.7 -3.2 -11.1 0.6 0.1 -79.3 -5.0 -75. 1 0.7 0.1 -61 . 1 -2.0 -60.1 0.8 0.1 -43.3 11.3 -56. 0 1 . 3 0.1 -32.6 5.0 -38.8 1 . 1 0.1 -16. 4 5. 6 -23. 4 1 .2 0. 1 - . 4 -.4 M e m o : Tot Total 6 9 7 .9 761 . 0 467.1 20.0 48.7 198.1 27.1 -63.1 -1 . 9 -62.6 1 . 3 0.1 gross domestic investment, f l o w of f u n d s b a s i s Private sectors Household sector Farm business Nonfarm noncorp. business N o n f a r m n o n f in. c o r p . b u s . Pvt. financial institution 55 56 57 58 59 60 61 Public sectors State S local governments U.S. government Govt.-spons. enterprises Monetary authority 62 63 64 65 66 (1) L i n e s Data are in billions of dollars. 20 26 31 . June 8, 1995 T a n g i b l e Asset H o l d i n g s T a n g i b l e Asset H o l d i n g s 6 Q R . 1 2 D e t a i l s of C h a n g e s in S t o c k s of T a n g i b l e A s s e t s Annual F l o w s Annual Flows 1981 1982 1983 786 351 27 72 338 26 .5 .2 .1 .9 .5 .8 739 . 9 344 .9 19 .6 69 .3 277 .8 28 .3 821 429 -1 70 292 31 7 Capital consumption H o u s e h o l d sector 8 9 Farm b u s i n e s s Nonfarm noncorp . business 10 N o n f a r m n o n f i n a n . corp. bus. 11 Financial institutions 12 563..6 267,.3 21 .6 . 56 .7 205,.3 12,.6 613 . 1 285 . 0 22 .9 63 . 1 227 .5 14 .6 642 .8 298 .3 23 .3 65 .2 240 . 1 15,.9 669 313 23 68 246 18 13 Net capital formation H o u s e h o l d sector 14 Farm b u s i n e s s 15 Nonfarm noncorp. business 16 N o n f a r m n o n f i n a n . corp. bus. 17 18 F i n a n c i a l institutions 222 .9 83,.9 5,.5 16, 2 103, 2 14,, 1 126 .7 59 .9 -3..3 6. 1 50..3 13,. 7 19 Net foreign investment (1) Net f i n a n c i a l investment: Private s e c t o r s H o u s e h o l d sector Farm b u s i n e s s Non f arm n o n c o r p . b u s i n e s s N o n f a r m nonf in . corp. bus. Private financial insts. 31 , .6 91 . ,7 171 . ,4 -5. 3 -16. 2 -47 .2 -11 . , 1 -85., 9 -13. 2 -76.. 0 0.. 1 0., 1 -154,. 1 -1 .7 , -153, 0..9 0 .. i 1 P u r c h a s e s of physical assets H o u s e h o l d sector 2 Farm b u s i n e s s 3 4 Nonfarm noncorp. business N o n f a r m n o n f i n a n . corp. bus. 5 6 Financial institutions 20 21 22 23 24 25 26 27 28 29 30 Pub 1ic s e c t o r s State 3 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt. - s p o n s . e n t e r p r i s e s Monetary authority 31 Unallocated financial flows 25. 9 1984 1985 1036 .8 497 .7 19 .5 87 .8 390 .5 41 .2 1067 .5 537 .6 17.. 7 96,.5 369.. 9 45,.8 1107,.2 604 .3 9 .3 97 .4 343 . 4 52 . 7 .4 .5 .4 .4 . 1 . 1 711 ..6 339. 8 23.. 0 72., 7 256,. 0 20, 2 756..8 364 .5 22 . 7 77.. 1 269 , .2 23..3 803 .0 393 .2 22..2 81 , .5 279, 2 26..9 858 623 21 87 295 30 178 .8 130,. 7 -25, 2 4,.8 52,.6 15,.8 367 . 4 184 .2 -3 .8 19,. 4 144,. 4 23..2 355., 9 197. 8 -5. 3 23..9 113.,9 25. 6 350.. 4 239..8 -13.. 4 20., 4 74. 2 29., 4 350., 0 238,. 0 -15..5 16..2 82.. 1 29. 2 372 252 -19 14 95 29 29 . 9 -24..6 -79.. 0 -102., 0 170.. 4 199.. 4 3,.8 -6.. 1 -19,.6 -7,,2 164, 2 188..6 25..8 -4. 8 -35., 9 -9., 4 85..6 184 .2 4,.5 -19 . ,4 -71 . .2 -12..5 129. 6 205. 3 6 . 1 -23. 9 -45. 0 -13. 0 -178.,8 11 ,6 . -191 .3 0. 8 0.. 1 -184,. 1 6.,8 -191,.5 0.,5 0. 2 .7 . 0 .9 . 1 .8 .8 1986 -121 .3 177. 3 235. 1 14. 0 -20., 4 -44. -6. 8 1987 1988 1153 . 0 631 .2 6 .7 97 .7 361 .3 56 . 1 1230 . 7 675 . 9 1 .9 101 .2 390 . 7 60 .9 -171 .5 1989 1291 .6 701 .2 15 .8 105 . 1 400 .9 68 .6 1 2 3 4 5 6 .5 .5 .8 .2 .1 . 9 930 . 7 463 . 4 21 .9 94 .7 314 .8 35 .9 7 8 9 10 11 12 .2 .4 .8 . 0 .6 .9 360 . 9 237 .8 -6 . 1 10 .4 86 . 1 32 . 7 13 14 15 16 17 13 -49 .7 19 93. 9 157. 2 16 . 4 -16..2 -57.. 9 -5. 7 -140.. 9 78. 3 138,. 3 21 .2 -14,. 0 -65.. 1 -22.. 0 186 .5 237 .3 8. 0 -10 .4 -59 . 9 11.5 20 21 22 23 24 25 -209. 6 8. 7 -216 .8 7 0, 2 -241 .8 2. 0 -243. 3 7 0. -186., 0 -16. 4 -169 .8 0. 1 0. 2 -189. 8 . 1 -190 . ,4 0. 7 0 .1 -224 . 4 -38..5 -186 . , 6 0. 6 0 .1 26 27 28 29 30 : 13..7 -10. 1 19 .5 -21 .9 - 56 .8 -79. 4 -29 .4 -11. 9 31 32 Reval. of p h y s i c a l assets 33 H o u s e h o l d sector 34 F a r m ousi^ess Nonparii n o n c o r p . business 35 36 Nonfarm n o n f i n a n . corp. bus. 37 - I n v e n t o r y v a l u a t i o n adj. 38 Financial institutions 496 .8 144. 8 6 .5 109. 3 200 .9 -25. 7 9 .6 225., 4 79 . ,8 8,. 0 45.. 9 75..6 -10.. 0 6 .2 134. 5 51 .0 23. 9 36. 6 12. 3 -8. 5 2. 4 149. 3 51 .6 -1 .3 50. 6 61 .8 -4.. 1 2. 5 163. 0 69. 3 -4. 0 64. 5 31 .0 0. 3 2. 4 242. 0 126. 2 3 65. 3 48. 6 9 .8 7. 4 349. 6 161 .8 16. 8 83. 3 69 .2 5 6. 0 229. 0 2 20. 4 68. 2 121 .8 -27 .3 12. 5 354.4 124. 6 10. 5 82. 2 106. 7 -17 . .5 12,.3 32 33 34 35 36 37 38 39 R e v a l u a t i o n s by type of asset 40 Residential structures 41 Plant and e q u i p m e n t 42 Inventories 43 Consumer d u r a b l e s 496 .8 166. 5 259 .2 26 .5 44. 5 225.. 4 77. 5 125.. 9 -3.. 0 25.. 1 134. 5 122. 9 -13. 9 16 .1 9. 5 149. 3 80. 8 62. 5 0, 1 5. 9 163. 0 101 .2 67. 1 -19. 1 13. 8 242.0 146 .9 95. 2 -25. 2 25. 0 349 .6 193. 1 90 .8 36. 5 29. 1 229 ., 0 -33.. 0 168. 8 57. 0 36. 3 354.. 4 163,. 0 154., 6 24. 5 12. 3 39 40 41 42 43 44 Change in land v a l u e s 45 Household sector 46 Farm b u s i n e s s 47 Nonfarm noncorp. business 48 N o n f a r m n o n f i n a n . corp. bus. 49 Private f i n a n c i a l insts. 290. 2 164. 8 3. 1 51 .3 63. 2 7 .8 209. 9 122. 3 -33. 2 63. 4 49. 3 8. 1 246 .2 132. 5 -1 .5 67. 7 38. 9 8. 5 299 .5 251 .4 -89. 5 91 .3 42. 5 3. a 259. 1 176 . 0 -74. 6 108. 5 38. 9 10. 3 205. 2 131 .2 -44. 6 72. 8 33. 6 12. 2 236. 2 155. 9 29. 2 43. 6 39. 3 18. 3 368. 5 195. 5 10. 3 71 .5 61 .2 10. 0 617. 5 260 .8 18. 3 76. 6 65. 5 16. 3 44 45 46 67 48 69 -2. 8 7 -7. 0 -3. 2 -2. 8 7 -7. 0 -3. 2 -5. 8 -2. 6 0 .2 -1 .5 -1 .8 50 51 52 53 56 792. 2 878. 2 522. 6 21 .8 56. 7 262. 8 14. 2 756 . 1 909 .6 564. 3 23. 63. 1 259 .2 19. 6 807. 1 985. 0 617. 6 23. 9 65. 2 258. 1 20. 2 938. 3 1119. 9 681 .9 24. 0 68. 4 320. 3 25. 2 987. 5 1193. 9 762. 9 23. 9 72. 7 325. 2 29. 2 1 042.7 1281 .2 839. 4 23. 3 77. 1 299. 5 41 .9 9 1 06 0 . 1243. 0 738. 4 23. 1 81 .5 303. 6 46. 4 1119. 1 1306. 3 816. 2 23. 1 87. 2 365. 9 34. 5 1253. 8 1673. 2 938. 5 23. 8 94. 7 341 .2 75. 0 55 56 57 58 59 60 61 -85. 9 -10. 2 -77. 4 1 .4 0. 2 -153. 5 -1 .7 -154. 4 2. 3 0. 2 -177. 9 11 .6 -192. 6 2. 9 0. 2 -181 .6 6. 8 -192. 5 3. 9 0. 2 -206. 4 8. 7 -217. 2 1 .7 0. 3 -238. 5 2. 0 -244. 1 3. 3 0. 3 -182. 1 -16. 4 -170. 0 3. 9 0. 4 -185. 7 1 -190. 7 4. 9 0. 2 -219. 4 -38. 5 -186. 8 5. 6 0 .3 62 63 64 65 66 50 Adj. to capital c o n s u m p t i o n 51 Household sector Farm business 52 53 Nonfarm n o n c o r p . b u s i n e s s 54 N o n f a r m nonf in. corp. bus. 55 56 57 58 59 60 61 M e m o : Total gross domestic investment, flow of funds basis Pr ivate s e c t o r s H o u s e h o l d sector Farm b u s i n e s s Nonfarm noncorp. business N o n f a r m n o n f i n . corp. bus. Pvt. financial Institution 62 63 64 65 66 Public sectors State 2 local g o v e r n m e n t s U.S. g o v e r n m e n t Govt. -soons. enterprises M o n e t a r y authority (1) Lines 2 0 * 2 6 + Data are in b i l l i o n s 31. of d o l l a r s . June 8, 1995 Tangible Asset Holdings Tangible R.12 Details of Changes in S t o c k s of Tangible Asset Assets Holdings ^ ^ Annual Flows Annual Flows 1990 1 2 3 4 5 6 1277.1 696.9 19.0 91 .5 402.6 67.0 1201.4 6 6 6 .2 13.5 78.8 379.8 63.1 1280.9 735.8 19.2 70.9 386 . 0 69.0 1420.0 808.6 10.6 86. 0 440.4 74.5 1624.3 890.5 24.2 107.3 510.4 91.9 P u r c h a s e s of p h y s i c a l a s s e t s Household sector Farm business Nonfarm roncorp. business Nonfarm nonfinan. corp. bus. Financial institutions 1 2 $ 4 5 6 7 8 9 10 11 12 9 8 0 .8 493.8 21.6 98.8 326.6 40. 0 1030.9 525.8 21.5 102.0 338.6 43.0 1088.6 566.9 21.9 105. 0 349.3 45.4 1118.1 583.2 21 .5 107.8 357.6 48.0 1192.0 625.9 22.0 114.0 376.3 53.7 Capital consumption Household sector Farm business Nonfarm noncorp. business Nonfarm nonfinan. corp. bus. Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 296.3 203.1 -2.6 -7.3 76.1 27. 0 170.5 140.4 -8.0 -23.3 41.3 20.0 192.3 168.9 -2.7 -34.1 36.7 23.5 301.9 225.4 -10.9 -21.8 82.7 26.4 432.4 264.6 2.2 -6.7 134. 1 38.2 Net capital formation Household sector Farm business Nonfarm noncorp. business Nonfarm nonfinan. corp. bus. Financial institutions 13 14 15 16 17 18 -188.9 N e t f o r e i g n i n v e s t m e n t (1) Net financial investment: Private sectors H o u s e h o l d sector Farm business Nonfarm noncorp. business N o n ^ a r m nor,fin. c o r p . b u s . Private financial insts. 20 21 22 23 2& 25 19 -51.8 -46.6 -85. 0 -82.8 20 21 22 23 24 25 202. 3 238. 0 4.8 7.3 -38. 0 -9.8 270 . 7 249 . 7 9.6 23.3 9.9 -21 . 7 306 . 9 332.8 3.5 34.1 19.6 -53. 0 204.5 180 . 7 11.3 21.8 -7.4 -2.0 26 27 28 29 30 -217.6 -38.9 -180.3 1.5 0.2 -306.3 -52.8 -255.9 2.2 0 . 2 31 -36.6 -11.1 32 33 34 35 36 37 38 308. 4 127.3 3.5 66.4 89.4 -11.0 10.7 39 40 41 42 43 308.4 142.4 116.7 21.9 27.4 44 45 46 47 46 49 -575.4 -267.3 15. 0 -120.5 -187.7 -15.0 50 51 52 53 54 -7.8 -3.1 0 . 2 -2.3 -2.7 -389.1 -36.7 -355.4 2.5 0.4 -339.4 -56.5 -285.9 2.6 0.3 51 . 3 138.2 -1.9 6. 7 -37.0 -54.6 -285.9 -47.5 -240.3 1.6 0.3 Public sectors State 5 local governments U.S. government Govt.-spons. enterprises Monetary authority 26 27 28 29 30 Unallocated 31 -2.8 52.1 45.6 169.8 112.9 2 . 6 50.2 9 . 9 5.8 263.9 130.1 6 . 1 71.2 43.9 -6.5 6 . 2 373.3 186.5 15.7 75.2 78.2 -6 . 2 11.5 438.8 195.3 2.8 118.4 99. 1 -19.5 3.6 R e v a l . of p h y s i c a l a s s e t s Household sector Farm business Nonfarm ncncorp. Business Nonfarm nonfinan. corp. bus. - I n v e n t o r y valuation adj. Financial institutions 32 33 34 35 36 37 38 169.8 118.6 28.3 -17.2 39.6 263.9 161.1 71.6 10.5 20.7 373.3 226 . 1 123.8 -1.9 25.2 438.8 219.5 129.3 50.3 39.7 R e v a l u a t i o n s by t y p e of a s s e t Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables 39 40 41 42 43 - 4 6 9 .5 32.2 8.6 -130.6 -312.2 -3.2 -65.5 20.2 21 . 1 -76 . 7 -20.3 -9.8 78.0 99 . 6 12.1 -20 . 4 3.4 -16.7 C h a n g e in land v a l u e s Household sector Farm business Nonfarm noncorp. business N o n f a r m nonfinan. corp. bus. Private financial insts. 44 45 46 47 48 49 -1 .3 -1.6 -7.0 -4.3 - .6 -.7 -1.4 7.8 6.3 -.4 0 . 9 1 . 1 -12.2 -1.6 -1.2 -.4 -9.0 A d j . to c a p i t a l c o n s u m p t i o n Household sector Farm business Nonfarm noncorp. business N o n f a r m n o n f i n . corp. bus. 50 51 52 53 54 -205.7 26 3.0 -3.1 -125.3 -330.3 -7 . 0 -.8 2. 1 55 56 57 58 59 60 61 1261.8 1474.7 934.9 23.8 98.8 364.8 52.4 1165.8 1467.4 915.9 23. 1 102. 0 389.7 36.8 1198.7 1582.0 10 3 8 . 6 22.7 105.0 405.6 10.1 1285.1 1617.4 989.3 21 . 9 107.8 433.0 65.4 1389.8 1666.9 1028.6 22.3 114.0 473.4 28.5 62 63 64 65 66 -213.0 -38.9 -180.5 6.1 0.3 -301.6 -52.8 -255.8 6-6 0.4 -383.3 -36.7 -355.4 8.1 0.6 -332.3 -56.5 -285.9 9.5 0 . 6 -277.1 -47.5 -240.3 10.1 0.6 Memo: Total are in b i l l i o n s of dollars. financial flows gross domestic investment, f l o w of f u n d s b a s i s Private sectors Household sector Farm business Nonfarm noncorp. business Nonfarm nonfin. corp. bus. Pvt. financial institution 55 56 57 58 59 60 61 Public sectors State S local governments U.S. government Govt.-spons. enterprises Monetary authority 62 63 64 65 66 (1) L i n e s Data 19 20 * 26 • 31. Hou'.hild"!«tar Hous.hold S.ctor Factors Accounting 62 for C h a n g e In Net W o r t h Annual Flows Annual Flows 1945 1946 1947 1948 R.100 Households G r o s s investment of h o u s e h o l d sector, from flow of funds a c c o u n t s 1949 1950 1951 1952 1953 and M o n p r o f i t Organ izations 32.9 41.1 38.7 52.3 58.3 64.0 63.9 15.9 6.3 30.6 2.3 10.7 8.4 36.3 4.8 12.8 7.9 38.2 0.6 8.4 7.8 47 .8 4.6 16.7 12.2 47.6 10.7 19.1 8.4 46.8 17.2 29. 0 11.9 51.3 12.1 24.7 12.5 14.6 14.1 16.2 18.0 20.0 23.3 25.8 28. 0 8 - D e p r e c i a t i o n v a l u a t i o n adj. 9 Depreciation charges 10 - C a p . c o n s u m p . a l l o w . , NIPA 2.1 16.7 14.6 14.1 14.1 16.2 16.2 18.0 20. 0 20.0 23.3 23.3 25.3 25.8 23. 0 28. 0 9 10 11 • R e v a l . of p h y s i c a l assets 12 C h a n g e in value 13 Depreciation charges 14 - G r o s s p u r c h a s e s , FOF basis 13.8 24.1 16.7 22.0 17.2 33.7 14.1 30.6 7.2 27.2 16.2 36.3 15.8 43.6 20.0 47.8 37.0 23.3 47.6 12.8 3.0 24. 1 25.8 46.3 -2.2 21.6 28.0 51 .3 11 12 13 14 15 16 17 13 18.3 11.7 1.6 5.4 17.2 15.3 8.3 0.3 6.7 12.3 7.1 0 .9 4.9 3.0 2.0 0.2 0.9 -2.2 - . 7 - . 3 -1.3 15 -9.3 -8.2 -3.6 -2.4 1.2 -2.2 -1.2 1.0 3.3 9 . 1 0.8 23.2 24.0 0.7 20.6 22.5 1.9 0.4 1 . 9 1.5 -7.2 -6.1 20 21 22 5. 1 5.1 5.4 5.4 5.3 5.3 5.6 5.6 28. 1 36.7 35.9 5.0 9.1 4.0 -1.0 1 2 3 4 5 6 Capital expenditures Net f i n a n c i a l i n v e s t m e n t Net acq. of finan. assets -Net incr. in l i a b i l i t i e s - Capital consump. = Net investment 7 B a l a n c e Sheet allow.,NIPA 31.6 22.0 9.6 flow, basis R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant S e q u i p m e n t Consumer durables 18.0 1.1 21.2 18.0 38.2 13.1 1.6 2.5 16 17 18 C h a n g e in the value of land hold ings 20 21 22 + R e v a l . of c o r o o r a t e & m u t u a l fund shares C h a n g e in value -Net p u r c h a s e s equities • R e v a l . of life insurance & 23 pension fund r e s e r v e s 24 C h a n g e in value 25 -Net a c q u i s i t i o n s 26 • R e v a l . of n o n c o r p . equity 27 C h a n g e in value 23 -Net inv. in n o n c o r p . bus. 29 30 31 26.5 -1.6 -1 . 0 23 24 25 3.5 3.5 6.1 6.1 26 27 28 1.5 2.5 27. 31 . 3. 1.0 + R e v a l . of investment in bank p e r s o n a l trusts C h a n g e in value - I n v e s t m e n t by h o u s e h o l d s 32 + O t h e r 33 = C h a n g e revaluations in net worth 34 Net worth o u t s t a n d i n g 35 D i s p o s a b l e p e r s o n a l income Data 1.2 1.1 are in b i l l i o n s of d o l l a r s . 29 30 31 -.1 -.2 -.3 -.4 0.4 -.3 96.3 1112.3 227.6 56. 1 75. 9 41.3 36.3 105.7 757.3 153.9 833.2 168.3 874.5 188. 2 910.3 187 .9 1016.5 207 ,5 -.1 55. 0 1167.8 240 . 2 -.2 32 37.4 33 1205.2 255.5 34 35 June 8, 1995 Household Sector Household Sector Factors Accounting for Change In Net Worth Annu.l Flows Annual Flows 1954 1955 1956 1957 R.100 Households 1958 1959 1960 1961 1962 and Nonprofit Organizations Gross investment of household sector, from flow of funds accounts 1 57..6 66.. 7 74..6 77.. 1 77..6 77..4 82 . 1 82 3 90..3 2 3 4 5 52 . 1 5..4 17.. 1 11 .7 63..5 3. 2 23.. 7 20. 6 62..6 12.. 1 27.,4 15. 3 62. 3 14..9 27.. 1 12. 2 59.. 0 18. 6 30.. 0 11 ,4 . 72., . 5..4 27..8 22. 5 71 ,2 . 11 . 0 28. 8 17. 8 69..5 12.. 8 30.. 4 17.. 7 77. 12., 9 34..5 21.. 7 6 30. 9 32. 5 36. 3 39. 1 41 .2 43. 3 44. a 46. 5 47. 9 - Capital consump. allow.,NI?A 42.4 = Net investment flow, Balance Sheet basis 8 9 10 35.8 Capital expenditures Net financial investment Net acq. of finan. assets -Net Incr. in liabilities 1 2 3 4 5 6 7 9 10 30 . 9 30 .9 32.5 32.5 36.3 36.3 39.1 39.1 41 .2 41 .2 43 .3 43 .3 44.8 44.8 46.5 46-5 47.9 47.9 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 11 12 13 14 - .4 20 .8 30 . 9 52 . 1 2.9 33.9 32.5 63.5 8.2 34.5 36.3 62.6 -4.1 19.1 39.1 62.3 1 .3 19 .2 41 .2 59 . 0 -2 .8 26 . 0 43 .3 72 . 1 -4.9 21 .5 44.8 71.2 -2 18-9 46.5 69.5 -7.4 22.2 47.9 77.4 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 11 12 13 14 15 16 17 18 .4 2. 6 . 2 - 2 .9 2.9 4.5 0.8 -2.4 -4.1 -.4 1 .3 .2 .5 2. 1 -2 .8 -1 .8 . .3 .6 -4.9 -1 .9 -.5 -2.6 "4.2 -28 * -1.3 -7.4 -4.2 -•! -3.1 Revaluation by type of asset Residential structures Nonr@s. plant S equipment Consjmer durables 15 16 17 18 19 7..3 9.6 9.4 12.3 11.1 20 21 22 63.. 0 68..8 0 .8 . 48.2 49.4 1 . 2 23 24 25 0. 1 8. 0 8. 0 26 27 28 - 4. 5 1 .4 -3. 1 29 30 31 8.2 1.5 1 . 0 5.8 10.9 18.0 20. 1 2.1 * 2.3 11.0 8.7 12. 1 8.0 -4.1 9.7 9. 7 17.1 14.0 -3. 1 - - -3,6 12. 1 10..6 -35.9 -34. 3 1 .6 102.. 1 103,.9 1 .. 9 -.7 9.1 9. 7 11.4 9. 0 -2.4 9.. 0 • Reval. of corporate equities -63.5 S mutual fund shares -64.9 Change in value -1.4 -Net purchases -4.4 -4. 1 0.3 105.6 10 6. 8 1-1 2.. 7 13. 4 10. 7 1 .2 13. 4 12. 2 0.1 12.0 11.9 4.2 16.7 12.5 -3.3 10.3 13.5 * Reval. of life insurance 3 pension fund -eserves Change in value -Net acquisitions 23 24 25 11 .2 1 1 3 . 0. 1 10. 6 1 .5 -9 .0 7. 0 1 . 1 -5.9 11.0 6.0 "5.0 13.3 7.1 -6.2 • Reval. of lonco^p. equity Change in value -Net inv. in noncorp. bus. 26 27 28 • Reval. of investment in ban* personal trusts Change in value -Investment by households 29 30 31 - - 1 -.2 -.2 -.3 -. 3 . -•3 0.7 33 106. 0 109.1 92.3 20.5 164. 0 78. 8 44.5 164.5 -6.7 34 35 1311. 2 261 .3 1512.5 298.8 1533.0 315.3 1697. 1 326 .4 1 775.9 346. 7 1320.4 36 0.5 1984.9 376.3 1978.1 398.7 Data are in billions of dollars. 19 26.,6 27. 3 0.. 7 32 1420.2 279. 9 • Change in the value of land holdings * 20 21 22 + Other revaluations 32 = Change 33 in net worth Net worth outstanding Disposable personal income 34 35 June 8, 1995 H o u s e h o l d Sector Household Sector Factors Accounting 64 for C h a n g e in Net Worth Annual F l o w s Annual Flows 1963 1965 1964 R,.100 1 G r o s s i n v e s t m e n t of household sector, from flow of funds a c c o u n t s 2 3 4 5 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. a s s e t s -Net incr. In l i a b i l i t i e s 6 - Capital consump. allow.,NIPA = Net investment flow, 7 B a l a n c e S h e e t basis 97.4 114.0 1966 1967 1968 1969 1970 1971 H o u s e h o ids and Nonpr of it Organ izat ions 123.6 140.2 147.1 152.0 161.6 178. 0 194. 1 1 117.8 34.2 67.2 32.9 125.2 36.4 63.7 27.2 123. 3 54. 7 73. 0 18. 2 147. 2 46. 9 92. 3 45. 4 2 3 4 5 6 54.8 12.6 40.8 28.2 92.3 21.8 50.6 28.9 99.4 24. 2 53. 1 28.9 102.7 37.4 60.0 22.6 104.9 42.2 66.6 24.5 49.8 52.2 54.4 57.4 62.2 68.1 75.9 83. 0 90. 9 47.6 61.9 69.2 82.8 84.8 83.9 85.6 95. 1 103. 2 7 90 .9 90. 9 8 9 10 8 - D e p r e c i a t i o n valuation adj. 9 Deoreciation charges 10 - C a p . c o n s u m p . a l l o w . , NIPA 49 .8 49.8 52.2 52.2 54.4 54.4 57.4 57.4 62.2 62.2 68.1 68.1 75.9 75.9 » 83. 0 83. 0 11 • R e v a l . of p h y s i c a l assets 12 C h a n g e in value 13 D e p r e c i a t i o n charges 14 - G r o s s p u r c h a s e s , FOF basis -11.2 23.8 49.8 84.8 -2.7 37.4 52.2 92.3 -8.1 37. 0 54.4 99.4 15.4 60.8 57.4 102.7 10.2 52.8 62.2 104.9 43.5 93.1 68.1 117.8 36.6 85.9 75.9 125.2 26. 2 66. 5 83. 0 123. 3 41 .4 97. 7 90. 9 147. 2 11 12 13 14 15 16 17 18 -11.2 -10.0 0.2 -1.4 -2.7 1.4 0.1 -4.2 -8.1 - . 9 0.7 -7.9 15.4 14.7 1.5 -.7 10.2 6.3 0.5 3.5 43.5 36.0 3.4 4.1 36.6 29.3 4.1 3.3 26. 2 13.0 4. 1 9. 1 41 .4 39. 4 6 .2 -4. 1 15 16 17 18 14.8 4.6 7.3 11.3 14.7 29.5 14.9 14. 6 16. 6 19 75.3 74.2 -1 . 1 75. 1 75. 0 79.5 77.9 -1.5 -68.4 -68.4 146. 0 143. 0 -3.0 145.8 139.8 -6.0 -225.1 -236.0 -10.9 -13. 7 -15. 9 -2. 2 97 .0 86 .0 -11. 0 20 21 22 • R e v a l . of life insurance S 23 oension fund r e s e r v e s 24 C h a n g e in value 25 -Net a c q u i s i t i o n s 3.9 18.4 14.5 4.1 21 . 1 17.1 4.1 21.9 17.8 -5.3 15.2 20.2 8.4 28. 0 19.6 6.6 27.7 21 . 1 -6.1 17.2 23.3 2. 2 28. 0 25. 8 15. 5 45. 8 30. 3 23 24 25 26 • R e v a l . of n o n c o r p . equity 27 C n a n g e in value 28 -Net inv. in n c n c o r p . ous. 12.7 7.4 -5.3 18.9 13.3 -5.7 25.4 21.9 -3.6 27.9 24.7 -3.2 23.9 19.3 -4.7 41.8 39.7 -2.1 39.1 33.1 -6.1 30. 6 25. 2 -5. 4 57 .5 49 .7 -7 .9 26 27 28 -2, 2 1 .. 9 4,.1 , 11 .5 24 . 2 12,. 7 29 30 31 - •.7 32 19 R e v a l u a t i o n by type of asset R e s i d e n t i a l structures N o n - e s . slant & equipment C o n s u m e r 3urabies • C h a n g e in the value of land n o l d i n g s • R e v a l . of c o r p o r a t e 20 3 m u t u a l fund shares 21 C h a n g e in value 22 -Net p u r c h a s e s 29 33 31 equities • Reval. of i n v e s t m e n t in oan< o e r s o n a l trusts C h a n g e in value - I n v e s t m e n t :y h o u s e h o l a s 32 • Other 33 = C h a n g e revaluations in net worth 34 Net worth o u t s t a n d i n g 35 D i s p o s a b l e p e r s o n a l income Data are in B i l l i o n s of d o l l a r s . * * " * - - - - - - 122.1 129.8 7.7 0.2 0.8 " " 0.2 -.2 -35.0 -1 .4 . .3 151 . 143.2 162.6 177.4 64.6 288.3 350.9 32.2 2121.3 418.3 2283.9 454.7 2461 .3 491.0 2526.0 530.7 2814.3 568.7 3165.2 617.8 3197 .3 663.8 3348..6 722 . 0 342., 0 3690. 6 784. 8 33 34 35 June 8, 1995 H o u s e h o l d Sector H o u s e h o l d Sector Factors Accounting for C h a n g e in Net Worth grj Annual Flows Annual F l o w s 1,72 1973 1974 1975 R.100 Households 1976 1977 1978 ____1979 1980 and N o n p r o f i t O r g a n i z a t i o n s G r o s s Investment of household s e c t o r , from I 223 1 265.5 245.2 292.7 326.7 373.1 102.7 4*7.4 "7.1 I S l i 11 a l i a l i a l i 108.1 122.1 138.7 153.3 170.6 191.1 216.8 246.1 6 98.7 flow of funds ™ 7 124.4 157.6 123.0 * j 173.4 202.5 „ « 211.6 * 230.6 221.0 * * IH:i litf iS:5 1:1 !J!:1 lit:! B IE I I I ! Ill I I l i 11 l i 'ill 1 ; I I 1 ; l i s i s i S t! i i 40.5 „ IS!:! i! 19 154.0 49.0 57.3 83.0 94.2 113.8 152.9 210.2 215.0 E - Capital = Net accounts s consump. Investment ii I * m m !»;i 15 §1 1 11 1:! 7 valuation adj. I l i S S S " ! • C h a n g e in the value land h o l d i n g s of 19 equities ' s - s i F of life g insurance 3 11 1- F, l i -E si! £f s H E T " «:i 1 ! l i 1; E: E! E: " S r S T : . »:• investment I i in E »;i $! »:• -?;• 3 2 -1 .5 -5.2 4.2 3.1 0.1 -8.6 7.5 -.5 4.7 JJ <46.6 172.6 171.7 627.6 7 48.4 509.4 869.5 1143.0 1286.3 = Change 34 35 4137.2 848.5 4309.7 958. 1 4481.5 1046.6 5109. 0 1150.9 5857.4 1264.0 6366.8 1391.3 7236.3 1567.8 8379.3 1753.0 9666.1 1953.0 Memo: Net worth o u t s t a n d i n g D i s p o s a b l e p e r s o n a l income Data are in b i l l i o n s of d o l l a r s . l i 8 • = ; § : = : J ! • R e v a l . of l i 6 flow, B a l a n c e Sheet basis -Depreciation • Reval. 1 i r allow.,NIPA • Reva 1. of corporate i 1 E * Other revaluations in net worth 32 33 34 35 June a, 1995 Household Sector Household Sector 6 6 Factors Accounting for Change In Net Worth Annual flows Annual Flows mi lilt !!!! 1,86 llll 1,87 1988 !,8, R-100 Households and Nonprofit Organizations Gross investment of household sector, from f.ow of runds accounta 522.6 544.3 617.6 681.9 742.9 859.4 788.4 814.2 938.5 1 I I I 1 § I I I ! I I i | | 1 1 1 6 - C P U , ! cnsum,. ,U,w.,NIP, 267.3 285., 2,8.3 313.5 339.8 364.5 393.2 423.5 <63.4 6 = Net 7 Investment flow, Balanc# 355.3 8 - Depreciation valuation adj. 10 N I P 6 1 " l3na 319.3 * 368.5 403.1 474.9 395.2 390.7 475.1 »|;J m I I I ! I I l:l i l \ H HJ.a sm.S m . | «||T| ««:. j i I I i | | I I §1 |l lii i i I I - I I I lil ill in the value of n0ldi "SS 122 5 152 5 -76.0 • Seval. of corporate equities % • Reva 1. of life • Reval. of investment 155.9 195.5 240.3 1, % m £1 !$! m £ i!! mm I E ! 1 ! IS :IS M M E I E i ?! iS:i m in l : i « '«•' 675.5 35 3 ! i „ : ; : S ? . 0 S 2 ? ; : s 2 r ! n c o « in billions of dollars. 131 .2 $$ insurance 3 i Data are 7 * 111:1 iii • Change 2S,.3 * itii 1 1 ;15.2 2 '» -1.2 , 727<4 l f ^ j «;i S;i -4.9 1255 2 -7.8 12„ , Jj 44.2 „8 5 5.3 lg„ 6 a* s -.1 .2 32 ,m , „ 35 June 8, 1995 Household Sector Household Factors Accounting for C h a n g e in Net Worth 67 Annual Flows Annual F l o w s 1990 Sector 1991 1992 1993 R.100 households 1038.6 1994 and N o n p r o f i t O r g a n i z a t i o n s 989. 3 1023. 6 G r o s s Investment of h o u s e h o l d s e c t o r , from flow of funds accounts 1 934. 9 915.9 2 3 4 5 696. 9 238.. 0 464. 6 226. 6 666 .2 249.7 431.5 181.8 735.8 302.8 525.9 223. 1 808. 6 180..7 496. 3 316.. 1 890. 5 133. 2 497. 9 359. 7 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets -Net incr. in l i a b i l i t i e s 6 493, 8 525.8 566.9 583. 2 625. 9 - Capital consump. allow.,NIPA 7 441 .,1 390. 1 471.7 406., 1 402. 8 « Net i n v e s t m e n t flow, B a l a n c e S h e e t basis 8 9 10 -3, 1 490. 7 493. 8 2.1 527.8 525.8 -4.3 562.6 566.9 6. 3 589. 4 583. 2 -1 .6 624..3 625.,9 - D e p r e c i a t i o n valuation adj. D e p r e c i a t i o n charges - C a p . c o n s u m p . a l l o w . , NIPA 11 12 13 14 127. 3 333.,4 490.. 7 696..9 112.9 251.2 527.8 666 .2 130.1 303.3 562.6 735.8 186. 5 405. 6 589. 4 803. 6 195. 3 461. 5 624. 3 890.,5 + R e v a l . of p h y s i c a l assets C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s , FOF basis 15 16 17 18 127. 3 91 .2 8. 7 27.. 4 112.9 69.9 3.4 39.6 130.1 100.2 9.1 20.7 186. 5 147..7 13..6 25..2 195. 3 142.. 0 13. 6 39.,7 99 .6 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant & equipment Consumer d u r a b l e s • C h a n g e in the value of land h o l d i n g s 19 -267. 3 260 .0 -32.2 20. 2 20 21 22 -110., 6 -94.. 6 16 . 0 810.8 892.0 81.3 293. 1 483.3 190.2 362.,2 5 2 2 .3 160..1 -122. 5 -113.. 1 9..4 23 24 25 -81 .8 , 109.. 0 190 . .8 293.8 679.9 386 . 0 128.5 405.4 276.9 149 . 0 493 .4 344..5 -61,.3 54. 9 116, 2 • R e v a l . of life insurance 8 pension fund r e s e r v e s C h a n g e in value -Net a c q u i s i t i o n s 26 27 28 -25.. 0 -53..3 -28..3 -81 .5 -84.7 -3.3 -51.3 -32.9 18.4 20 .5 8 .9 -11 .6 . 117,.6 90 , .3 -27,.4 + Reval. n o n c o r p . equity C h a n g e in value -Net inv. in n o n c o r p . bus. 29 33 31 - 2 2 .6 7.. 1 29 . 7 70.1 86.2 16.1 28.4 21 .2 -7.1 29 .8 31 .4 1 .6 . 32 -19 33 34 35 Data are 44 . 7 19058 .8 4050..6 -12.6 5.8 7 .4 36 .2 1841.6 978.4 1175 .3 659 .6 20900.4 4236.6 21878.8 4505.3 in billions of d o l l a r s . -9,.7 9. 1 18 .8 23054 . 1 4 6 8 8 .7 23713 .6 4959 .6 • R e v a l . of c o r p o r a t e equities & m u t u a l fund shares C h a n g e in value -Net p u r c h a s e s • R e v a l . of investment in bank p e r s o n a l trusts C h a n g e in value - I n v e s t m e n t by h o u s e h o l d s • Other = Change revaluations in net worth Memo: Net w o r t h o u t s t a n d i n g D i s p o s a b l e p e r s o n a l income June 8, 1995 Far., and N o n e o r x . r . t . B u s i n e s s 6 Q F a r m and N o n o o r p o r a t . B u s i n e s s Factors Accounting for C h a n g e in Net Worth Annual Flows Annual Flows 1945 1946 1947 1948 1949 R . 1 0 2 Farm Bus iness G r o s s Investment of farm b u s i n e s s s e c t o r , from 1 flow of funds a c c o u n t s ! 1.5 "EiSirEh;;.,, 5 - N e t incr. 6 investment consump.allow., NIPA 8 = N e t i n v e s t m e n t flow, B a l a n c e S h e e t basis 9 - Deoreciation valuation 1.9 1.6 -.2 3.7 -j in l i a b i l i t i e s * P r o p r i e t o r s ' net 7 - Capital 1.6 1950 1951 1952 1953 (1) 2.2 2.4 •» -v 0.7 2.7 2.8 I; sio 3 0 v 2.4 3 1 l -» j lis 5 0.8 -1.0 2.6 0.2 1.4 1.2 1.5 2.0 6 1.3 1.6 1.9 2.1 2.4 2.8 3.0 3.2 7 0.9 -.9 2.6 0.2 1.4 1.2 1.5 1.9 i.i }:; i:i x it n u adj. a - » i:t r l=gs~I. a ii ;:i ti II tl it 1:i i; is « •» is i:i ,;:t • C h a n g e in the value of 20 land h o l d i n g s 21 * Other in net w o r t h 23 Net worth outstanding (1) Includes c o r p o r a t e and n o n c o r p o r a t e 11 « « •:-$ i; i; 5.1 l.J 0.3 - - , revaluations 22 = C h a n g e t$ - -1.5 , 11.7 . 7.5 1.1 -.4 _ _ - 20 2 1 14.2 21.2 0.1 -4.1 21.8 11.7 -1.4 -.4 22 93.3 114.5 114.5 110.4 132.2 143.9 142.5 142.1 23 5 4 5 7 59 farms. R.103 Nonfarm Noncorporate Business 1 G r o s s investment of n o n f a r m noncorporate business sector, from flow of funds a c c o u n t s ; l i l a E S , 6 • P r o p r i e t o r s ' net investment 7 - C a p i t a l c o n s u m p . a l l o w . , NIPA = N e t investment flow, 8 B a l a n c e Sheet b a s i s 9 - Depreciation valuation adj. I? i:i • Change 1 , n d 21 • Other 3.7 4.2 4.5 4.7 H 1 ti is i! ti A -2.4 0.3 1.4 -.3 2.3 -.6 -.5 -1.3 6 5.0 3.7 4.2 4.5 4.7 5.4 5.7 5.9 7 -2.4 0.3 1.4 -.3 2.3 -.6 -.5 -1.3 -2.1 * « » * * „ u i'lis;. !! =?£'=£:' 2 0 5.0 ti # 1 8 9 » ti 'ti ti !i si !i ;; |;j n ii 1 '3 tl Ej jS h; Ej H II I; in the value of holdl "'$ revaluations 2 2 » C h a n s , in net w o r t h 2 « -.9 3.2 2. 0 - -.1 1 .2 2.2 2.3 2.2 1 .7 - , , « 20 21 13.1 15.8 8.8 2.8 10.5 8.4 4.0 2.4 22 109.5 125.3 134.1 136.9 147.2 155.6 159.5 162.2 23 Memo: 23 Net w o r t h Data are outstanding in b i l l i o n s of d o l l a r s . June e , 1995 F a r „ and M o n c o r p o r a t . 9 u . l n . s s Farm Factors Accounting for C h a n g e and N o n c o r p o r a t e B u s i n . s . in Net Worth Annual * l . „ 1*5* 1*S5 1956 1957 1953 R . 1 0 2 Farm B u s i n e s s 1 « « i v ' * z « * *® 1961 1962 , „ 5.9 , 3.9 3.9 4.0 ;:2 ?:i -1.9 -1.3 **'6 7 0.8 -3.9 ->;? -?:» -.5 -1.8 -.6 3'* 3.9 3.9 3.9 4.0 -'•« -2-° -i.< «.7 -,.* -.7 -.6 -i.« « « » t: u *•? i:i £s « I « , . ® M '' s , , I960 -! -i;' ''' - . , 1959 (1) G r o s s i n v e s t m e n t of farm b u s i n e s s s e c t o r , from flow of funds a c c o u n t s i i • P r o p r i e t o r s ' net 2 »° 2 5*2 l *4 ' i »•' 0, J °*9 "*J " ... °-5 ... ... "" I r i i S " S . ' l Revaluation 2 5 l U J '° "' 2 1 6 5 7,1 '* 5 152 6 5 - 7 l58 '< 3 , 9 "7.S 1 -8 169. 1 2 .2 5.2 4.8 171 .5 176.5 181 .2 It by tyoe of asset • 16 •• •Other 22 6 7 ' 1*1 >.i investment - C a p i t a l c o n s u m p . a l l o w . , NIPA 111 ill III III ill ill III III ill -Si •« !:! l!i i!i M 3 fi 17 1 = Change revaluations 22 outstanding 23 ^t°wcrth (1) Includes c o r p o r a t e 21 in net worth and noncorporate farms. R . 1 0 3 N s n f a r m N o n c o r p o r a t e Business Gross s 3 7.5 7.6 77.6 7 7.7 > 7 .8 9.0 ::: ?:i iif i:l fc :i!i :J 6 »2 ,['2 l'\ 'I -.1 0.3 0.5 ? -.1 2.4 2.5 7 .7 J'J 0. 1 -1 .6 -1 .6 -5 .2 7.4 0.7 -.1 -.7 7 i 8 -7.8 0.4 0.5 0.2 9 X »9.0 ° -.6 -. 1 0.5 6 -2.9 -2.3 -1.1 -1 . 1 -. 6 -5.2 -4.4 -4.4 7 6.1 6.4 7.0 7.5 7.6 7 .8 8.0 8.2 8.4 -1.1 -.6 - 5 .2 -5.2 -4.4 -4.4 * 7.4 7.5 7.6 7.6 7 .8 7 .8 8. 1 8.0 8.2 8.2 4. 2 4.. 1 7.,3 7..7 « in l i a o i l i c i e s • P r o p r i e t o r s ' net - Capital ! 5 investment 5 c o n s u m p . a l l o w . , NIPA 7 = Net investment flow, B a l a n c e Sheet basis 8 8.4 8.4 3.3 2.7 9.1 7.4 3.3 3.0 8.2 7.8 5.3 5.9 8.4 9.0 4. 2 3. 9 0. 6 3 3.3 3.7 -.4 3.3 4.0 0.6 -1.3 5.3 4.8 1.1 -.6 •1.• 1 "1.4 *2.6 • -2.0 - ' " E S S C . : : » B ii H B 8 " ii ?= • » ® K r i 3.5 1.8 1.2 0.4 «•' 2 2 1 -« 21 22 Data are 2.7 2.9 7.6 7.7 t's incr. ii fi H B B a a fi K SBS-rji 3.5 3.6 7.4 7.6 « „ Net 2 ii 23 « „ Capital expenditures a 20 « * of n o n f a " m :r::: « I « , investment 8.4 ... 8.2 162.8 168.7 176.2 in billions of dollars 1.4 2.7 1. 7 0.5 0.5 •1.0 " " - " . 3.8 3.0 0. 1 -.5 1.4 2.9 . 180.0 183.0 183. 1 182.6 184.0 186. 9 * c ;^d"no; d ;n g 's v a l u e Other revaluations Change Memo: Net worth in net worth outstanding of 21 22 F ri » " * n < "oneorpor.ti gu.ln.s. Farm Snd'Noneorpor.t, B u s l t . n Fectors Accounting for Change in Net Worth 70 Annual Flows Annuel Flow: 1963 1964 1965 1966 1967 R. 102 F a r m B u s i n e s s 1 G r o s s investment of farm b u s i n e s s s e c t o r , from flow of funds a c c o u n t s 2 3 4 5 6 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. a s s e t s -Net incr. in l i a b i l i t i e s * Proprietors* 7 - Capital net investment c o n s u m p . a l l o w . , NIPA * N e t investment B a l a n c e Sheet 8 flow, basis 1968 1971 5. 8 6.1 6.5 1 7. 8 -2, 5 0. 6 3., 0 6..8 ,0 -1 . 0. 5 1. 6 6.6 -.5 0.6 1.1 9.4 -3.0 0.7 3.7 2 3 4 5 1 1. 4 -1..1 -1.3 -1.7 6 4. 9 5. 2 5-,7 6.1 6.5 7 1,.4 -1..0 -1.3 -1.7 8 4.4 4. 7 4. 9 3.8 0.3 0.3 6.4 -2.0 0.3 2.3 5. 7 -1 .0 0. 2 1. 2 7. 5 -2. 6 0. 4 3. 0 -1.6 -2.8 -1.5 -2. 4 4.0 4.2 4.3 4. 6 -1.7 -2.8 -1.5 -2. 3 -. 1 1.4 1970 5. 3 4.1 5.3 -1.4 1969 (1> -- . - - D e p r e c i a t i o n valuation adj. D e p r e c i a t i o n charges - C a p . c o n s u m p . a l l o w . , NIPA 4.0 4.0 4.2 4.2 4.3 4.3 4. 6 4. 6 4, 9 4. 9 5 .2 5 2 5 .7 5,.7 6.1 6.1 6.5 6.5 9 10 11 12 • R e v a l . of p h y s i c a l assets 13 C h a n g e In value 14 Depreciation charges 15 - G r o s s p u r c h a s e s , F Q F basis 1.3 4.0 5.3 0.7 0.3 4.2 3.8 4.7 6.7 4.3 6.6 1. 9 2 9 4,.6 5 .7 0. 9 3 6 4 .9 7 5 4 .9 7 .5 5 .2 7 .8 7,.6 8 .7 5 .7 6 .8 2.2 2.7 6.1 6.6 8.1 11.1 6.5 9.4 12 13 14 15 0.7 0.5 0.6 -. 4 4.7 0.2 1 .1 3.3 1 .9 0..9 . 1 .5 - •.6 0,.9 0,.6 1.. 0 - •.7 4 .9 1,.7 2 .4 0,.9 7 .6 1 .5 . 2 .9 3 .2 2.2 0.8 2.3 -1.0 8.1 1.7 3.2 3.2 16 17 18 19 9,.3 8 .9 8 .6 6. 0 7.1 9 10 11 16 17 18 19 R e v a l u a t i o n by type of asset Residential structures N o n r e s . olant & equipment Inventories -.1 0.6 -.4 • C h a n g e In the value of 20 land h o l d i n g s 21 • Other 8.4 - revaluations 10.1 in net worth 5.6 6.2 13.2 Memo: 23 Net worth outstanding 166.9 193.1 206.3 CI) Includes corporate 22 - Change and noncorporate 14.5 20 - .4 0.7 21 12 .6 7.8 21.7 22 252 .5 260.3 282.0 23 - 8 .9 215 . 1 9 .8 224 . 9 15 . 0 239 .9 farms. R.1C3 Non*arm Noncorporate Business 1 Gross investment of non farm n o n c o r p o r a t e b u s i n e s s sector, from flow of funds a c c o u n t s 2 3 4 5 6 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in l i a b i l i t i e s • Proprietors* net investment 7 - C a p i t a l c o n s u m p . a l l o w . , NIPA = Net investment flow, B a l a n c e Sheet b a s i s 8 8.6 9.1 9.6 10.3 11.1 12.0 13.2 9.6 -.9 * 3.9 10.9 -1.8 0.6 2.4 12.7 -3.1 0.4 3.4 14.0 -3.7 0.9 4.5 12.9 -1.8 0.9 2.7 1& ? -4.7 -.7 4.0 20.7 14.3 1.5 9.0 ?'? "t't 1.3 7.9 -3.7 -2.9 -2.1 -.8 -4.6 -3.6 -5.1 8.6 9.1 9.6 10.3 11.1 12.0 13.2 ™• 1 9.6 9.6 10.3 10.3 11.1 11.1 12.0 12.0 2 15.7 2 t'« 70 7.2 16.2 * z -4.4 -6.5 6 14.3 15.7 7 13.2 13.2 14.3 14.3 15.7 15.7 9 10 11 -3.7 9 - D e p r e c i a t i o n valuation adj. 10 Depreciation charges 11 - C a p . consump. a l l o w . , NIPA * 8.7 8.6 * 9.1 9.1 12 • R e v a l . of p h y s i c a l a s s e t s 13 C h a n g e in value 14 Depreciation charges 15 - G r o s s p u r c h a s e s , FOF basis 3.8 4.7 8.7 9.6 8.7 10.6 9.1 10.9 3.7 11.9 9.6 12.7 13.3 17.0 10.3 14.0 10.4 12.2 11.1 12.9 19.9 24.6 12.0 16.7 18.4 25.9 13.2 20.7 14.7 21.3 14.3 20.9 26.0 35.0 15-7 24.7 12 13 14 15 3.8 3.8 1.3 -1.3 8. 7 7.9 1.6 -.8 8.7 6.6 2.3 3 13.3 10.6 3.6 -.9 10.4 7.8 2.9 -.3 19.9 14.8 5.3 -.2 18. •* 13.0 5.5 -.2 1-. 7 8.0 6.2 0.5 26. 0 16.6 7.5 1.9 16 1 18 19 16 17 18 19 20 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant & equipment Inventories + C h a n g e in the value of land h o l d i n g s 21 • Other 22 = C h a n g e 23 Net w o r t h Data are 20 21 revaluations 22 in net worth outstanding in billions of d o l l a r s . 189.3 197.0 206.6 223.0 233.2 259.0 280.4 June 8, 1995 F.r. ,nd Noncorporate Business Farm and Noncorporate Business F a c t o r s Accounting for Change Annual Flows in Net Worth ^ ^ Annual Fiows _ 1972 1973 1974 1975 1976 R . 1 0 2 Farm Business 1977 1978 1979 1980 15-5 15.3 17.9 20.0 (1) Gross 1 7 9 -< -S '-S '2.2 investment of of'Z:: , i ii ti ii ii ii ii ii i: ii i m s - ; ' "3-4 7 7-2 8 2 ii " S a "7-4 l0-7 - -2 7 ' - 6 S 2 -l 7 « -2 « it: -S 2 U ' 8 l5 ' 2 7 - -S si -HO u -' -10.1 iu -!»•' 7 I -' -16.0 si 21.2 19-S -20.7 . Proprietors- net Investment - Capital consump.allow., N!PA t 7 = ::i ii ® fi :H $i ii ti =1 si Ii I s s E r j i ii I 1 ii -ii 1 I B ti 1 =:P="ii 20 2 25 '9 * 51 * * 2 2 38.3 2 5 5 2 0 , 3 55 '° 0 , 2 * 76.3 596 '6 <5.5 42.0 43d '6 68.8 50.5 * " " 50.0 68.7 57.3 4d8 '6 557.3 614.6 88.1 ~ 110.4 724.9 99.7 72.1 * 107.1 332.1 * ^ a n ^ o ^ I n g s ' ^ ' • Other 87.0 919.0 = Change NeTworth °f revaluations 21 in net worth 22 outstanding (1) Includes corporate and noncorporate 20 23 farms. R . 1 0 3 Nonfarm Noncorporate Business 1 17.4 19.3 22.2 25.6 27.8 33.9 35.4 2 3 4 5 30.7 -13.3 6.5 19.7 35. 1 -15.8 6.2 22.0 30.2 -7.9 4.9 12.8 23.6 2.0 1.9 -.1 27.1 0.7 8.8 8.1 35.8 -4.9 16.4 21.2 6 -12.0 4.4 -27.3 -17.3 -17.4 7 17.4 19.3 22.2 25.6 27.8 8 -12.0 4.4 -27.3 -17.3 -17.4 41 .8 48.7 47.5 -12. 1 20.7 32.7 60.2 -18.5 21.7 40.1 63.3 -14.6 8.9 23.6 -12.8 -18.2 -30.0 -41.1 30.9 35.4 41 .8 48.7 -12.8 -18.2 -30.0 -41.1 9 G r o s s investment of nonfarm noncorporate business sector, from flow of funds accounts Caoital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities • P r o p r i e t o r s ' net 1 2 3 4 5 investment 6 - Capital consump .allow., SIIPA 7 = Net investment flow, Balance Sheet basis 8 10 11 17.4 17.4 19.3 19.3 22.2 22.2 25.6 25.6 27.8 27.8 30.9 30.9 35.4 35.4 41 .8 41 .8 48.7 48.7 - D e p r e c i a t i o n valuation adj. 9 D e p r e c i a t i o n charges 10 -Cap. consump. allow., N1PA n 12 13 14 15 37.7 51.0 17.4 30.7 40.4 56.2 19.3 35. 1 50.4 58.4 22.2 30.2 41.0 39.0 25.6 23.6 45.2 44.5 27.8 27.1 68.4 73.3 30.9 35.8 87.5 99.5 35.4 47.5 121.5 140.0 41.8 60.2 124.9 139.6 48.7 63.3 • Reval. of physical assets 12 Change in value 13 Depreciation charges 14 - G r o s s p u r c h a s e s , FOF basis 15 18 19 37.7 28.3 8.0 1.4 40.4 27.3 11.4 1.7 50.4 28.8 20.8 0.9 41 .0. 27.5 15.2 -1.6 45.2 33.7 12. 1 -.6 68.4 51.0 17.2 0.2 87.5 62.9 23.1 1.5 121.5 90.8 28.4 2.3 124.9 90.2 34.8 -.1 R e v a l u a t i o n by type of asset 16 R e s i d e n t i a l structures 17 N o n r e s . plant 8 equipment 18 Inventories 19 28 15.6 21.0 20.3 14.5 21.2 23.8 37.9 52.9 7 2.1 • Change in the value of land holdings -.1 -.1 -.1 -1.1 • Other r e v a l u a t i o n s 21 79.4 107.2 144.4 154.8 = Change in net worth 22 629.1 736 .3 880.7 1035.5 Memo: Net worth outstanding 23 16 17 21 > " -15.8 " - 22 41.4 49.9 43.4 38.2 23 369.2 419.1 462.5 500.7 D a t a a r e in billions of dollars. " 49. 0 549.7 20 June 8# 1995 F a r m and N o n c o r p o r a t e B u s i n e s s •J2 Farm and N o n c o r p o r a t e Business Factors Accounting for Change In Net Worth Annual F l o w s Annual Flows 1981 1982 1983 1984 1985 1986 1987 1988 1989 R.102 Farm Business (1) 1 G r o s s investment of farm b u s i n e s s s e c t o r , from flow of funds a c c o u n t s Caoital expenditures Net financial investment Net acq. of finan. assets -Net lr.cr. in l i a b i l i t i e s 2 3 4 5 6 * P r o p r i e t o r s ' net investment 7 - Capital consump.allow.» NIPA = Net investment flow, B a l a n c e Sheet basis 8 21..8 23 .4 23 9 24 .0 23 9 23..3 23,.1 23..1 23.8 1 27 .1 - 5 .3 1..9 7 2 19,.6 3 .8 I,.9 -1 .9 -1.,9 25 .8 1. 4 - 2 4 .4 19, 5 4, 5 0. 3 -4, 2 17. 7 6,.1 3 .6 -2. 5 9, 3 14,.0 4, 3 -9. 7 6,.7 16..4 1,.8 -14,.5 1,.9 21, 2 3. 3 -17.,9 15.8 8.0 2.2 -5.8 2 3 4 5 -10,.1 -9 .4 - 2 7 .7 -2. 9 14. 5 10., 1 -2 2 -8..5 -6.9 6 21,.6 22 .9 23 3 23..4 23..0 22 7 22 2 21..8 21.9 7 -9,.9 -8. 9 -27..1 -2. 2 15. 4 10. 8 -1..3 -7.. 1 -5..1 8 9 10 11 9 - D e p r e c i a t i o n valuation adj. Depreciation charges 10 - C a p . c o n s u m p . a l l o w . , NIPA 11 21 .6 21..6 22 9 22 9 23 3 23. 3 23 4 23. 4 23. 0 23.,0 22..7 22 7 22 ,2 22 2 21,.8 21..8 0. 2 22.. 1 21..9 12 • R e v a l . of p h y s i c a l assets C h a n g e in value 13 D e p r e c i a t i o n charges 14 - G r o s s p u r c h a s e s , FOF b a s i s 15 6 .5 12,.0 21,.6 27,. 1 8,,0 4 .7 22..9 19. 6 23 ,9 -1. 3 23 3 -1. 9 -1. 3 5 ,1 23 4 19. 5 -4. 0 -9. 3 23.,0 17..7 4. 3 -9..1 22. 7 9. 3 14,.8 .6 22 2 6,.7 20,.4 0..6 21..8 1..9 10,.5 4, 3 22,. 1 15..8 12 13 14 15 6 .5 3 .7 15,.1 - 1 2 .3 8.,0 1..8 9 .7 -3..6 23 .9 1. 5 7 .4 15,.3 -1. 3 1. 6 5.,1 -8.,3 -4.,3 1. 7 4. 3 -10.,1 4. 3 2 4 6 6 -4. 7 14..8 3,.0 5,. 0 6,.8 20,,4 .3 4,.9 15,.8 10 .5 , 3..6 7..6 6 16 17 18 19 3.1 -33.2 -1. 5 -89. 5 -74. 6 -44..6 29..2 10. 3 18.3 0..6 0..5 0..4 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant 8 equipment Inventorles 16 17 18 19 20 • C h a n g e in tne value of land n o l d i n g s 21 • Other revaluations 22 = C h a n g e " in net w o r t h Memo: 23 Net worth -.. % 918.7 outstanding (1) Includes corporate and noncorporate 0..1 • " 20 21 34.1 -4..7 -93.,0 -63. 2 -29.. 0 43. 2 23..9 23.5 22 884.6 879..9 786..9 723..7 694 .8 738., 0 761 . 9 795.5 23 farms. R.103 Nonfarm Noncorporate Business 1 G r o s s investment of n o n f a r m n o n c o r o o r a t e b u s i n e s s sector, *rom flow of funds accounts 2 3 4 5 6 Capital expenditures Net financial investment Net acq. of fi«an. assets -Net incr. in l i a b i l i t i e s » P r o p r i e t o r s ' net investment 7 - C a p i t a l c o n s u m e . a l l o w . , NIPA * Net investment flow, 8 B a l a n c e Sheet basis 9 10 11 56.7 63.1 65.2 68.4 72.7 77.1 81.5 87..2 94 .7 1 72.9 -16.2 4.4 20.6 69.3 -6.1 5.9 12.1 70.1 -4.8 32.7 37.5 87.8 -19.4 48. 0 67.4 96.5 -23.9 39.8 63.7 97.4 -20.4 39.1 59.4 97.7 -16.2 14.1 30.3 101 ,2 -14..0 40. 6 54. 6 105., 1 -10..4 27. 5 37.. 9 2 3 4 5 -34.7 -75.9 -50.9 -71.2 -76.5 -49.8 -61.4 -21 .a -23. 4 6 56.7 63.1 65.2 68.4 72.7 77.1 81.5 87, 2 94. 7 7 -21.8 -23,.4 8 -1,.5 93.,2 94 .7 9 10 11 . -61.4 -34.7 * - D e o r e c i a t i o n valuation adj. Depreciation charges - C a p . consump. a l l o w . , NIPA 56.7 56.7 63.2 63.1 65.2 65.2 68.4 68.4 72.7 72.7 77.1 77.1 81 .5 81.5 87..2 97,.2 12 • R e v a l . of physical assets 13 C h a n g e In value 14 Depreciation charges 15 - G r o s s p u r c h a s e s , FOF basis 109.3 125.4 56.7 72.9 45.9 52.3 63.2 69.3 36.4 41.3 65.2 70.1 50.6 70.0 68.4 87.8 64.5 88.4 72.7 96.5 65.3 85.7 77.1 97.4 83.3 99.5 81.5 97.7 48..2 62..2 87..2 101. 2 82 .2 94 .1 93 .2 105,. 1 12 13 14 15 16 17 18 19 109.3 76.9 33.6 -1.3 45.9 30.6 14.9 0.4 36.4 31.7 5.0 50.6 41.1 9.6 -.1 64.5 51.5 11.7 1.3 65.3 52.6 14.5 -1.7 83.3 66.0 15.3 2.0 48. 2 18. 8 27. 4 2. 0 8 2 .2 57 .9 21..9 2..4 16 17 18 19 51.3 63.4 67.7 91.3 108.5 72.8 43.6 71. 5 76..6 20 40.3 0.6 0.5 0.4 1.0 5.6 -5. 0 -•.7 21 89.3 71.2 92. 9 136..2 22 >17.3 1710.,2 1846.5 23 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant 3 e q u i p m e n t Inventories • C h a n g e in the value of 20 land h o l d i n g s 21 • Other revaluations 22 = C h a n g e Memo: 23 Net worth Data are in net worth outstanding in billions of d o l l a r s . 166.2 -.2 34.0 53.8 1235.7 1289.5 71.1 .2 96.3 June 8, 1995 Farm and N o n c o r p o r a t e B u s i n e s s Farm Factors Accounting for C h a n g e and N o n c o r p o r a t e B u s i n e s s in Net Worth 73 A n n u a l flows Annual Flows 1993 1990 1994 R.102 Farm Business 1 23.8 23. 1 22 . 7 21.9 22.3 2 3 4 5 19.0 4.8 2.5 -2.3 13.5 9.6 2.2 -7 . 4 19 .2 3 .5 3 .8 0 .3 10.6 11.3 3.2 -8.2 24.2 -1.9 3.8 5.7 .9 -11.2 2.3 21 .9 21.5 22. 0 6 -5.1 -9.7 7 21 .6 21.5 - (1) G r o s s investment of farm b u s i n e s s s e c t o r , from flow of funds a c c o u n t s Capital expenditures Net f i n a n c i a l investment Net acq. of firan. assets -Net Incr. in l i a b i l i t i e s • P r o p r i e t o r s ' net investment 1 2 3 4 5 6 - C a p i t a l c o n s u m p . a l l o w . , NIPA 7 = Net investment flow, B a l a n c e Sheet basis 8 8 -3.0 -8.1 9 10 11 0.2 21.8 21.6 « 21.5 21.5 .6 21 .3 , 21 .9 . -.4 21 . 1 21 .5 -1.2 20.9 22.0 9 - D e p r e c i a t i o n v a l u a t i o n adj. Depreciation charges 10 - C a p . c o n s u m p . a l l o w . , NIPA 11 12 13 14 15 3.5 0.8 21 .8 19.0 2.6 -5.5 21.5 13.5 6. 1 4,. 0 21 .3 19 . 2 15.7 5.2 21 . 1 10.6 2.8 6.2 20.9 24.2 + R e v a l . of p h y s i c a l assets C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s , FOF basis 12 13 14 15 16 17 18 19 3.5 3.3 5.0 -4.7 2.6 3.5 2.6 -3.6 6. 1 3 .6 2 .9 . 4 15.7 4.7 4.5 6.5 2.8 4.0 4.4 -5.6 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant S equipment Inventor las 16 17 18 19 20 15.0 -3.1 8 .6 21. 1 12.1 1 .3 21 16.7 22 23 802.2 - .2 2.6 -6.1 796 . 1 -10.7 -.3 15,.2 811 ..3 26.2 837.4 2.6 - * C h a n g e in the value of land h o l d i n g s 20 • Other 21 revaluations 18.7 = Change in net worth 856 . 1 Memo: Net worth outstanding (1) Includes corporate and n o n c o r p o r a t e 22 23 farms. R.. 133 Nonf arm N o n c o r p o r a t e Business G r o s s investment of ncn^arm noncorporate Business sector, from flow of fun33 accounts 1 98.8 102.0 105.. 0 107.8 114.0 2 3 4 5 91.5 7.3 13.2 5.9 78.8 23. 3 -4.8 -28.1 70. 9 34.. 1 14. 3 -19..8 86 . 0 21 .8 6.3 -15.5 107.3 6 . 7 13.2 6.5 6 -16.9 -3.6 12. 9 -7.1 -23.2 + P r o p r i e t o r s ' net 7 98.8 102. D 105. 0 107.8 114.0 - Capital Capital expenditures Net financial investment Net acq. of finan. assats -Net incr. in l i a b i l i t i e s investment c o n s u m p . a l l o w . , NI PA 1 2 3 4 5 6 7 8 -16.9 -3.6 12. 9 -7.1 -23.2 = Net investment flow, B a l a n c e Sheet basis 9 10 11 -2.3 96.5 98.8 -1.3 100.8 102.0 7 104. 3 1 05.0 0.9 108.7 107.8 - . 4 113.6 114.0 - D e p r e c i a t i o n v a l u a t i o n adj. 9 Deoreciation charges 10 -Cap. c o n s u m p . a l l o w . , NIPA 11 12 13 14 15 66.4 61.4 96.5 91.5 50.2 28. 2 100.8 78.8 71 .2 37 .8 104. 3 70. 9 75.2 52.5 108.7 86 . 0 118.4 112.1 113.6 107.3 + R e v a l . of p h y s i c a l assets C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s , FOF basis 16 17 18 19 66.4 46.6 18.5 1.3 50.2 43.8 7.1 -.7 71 .2 56. 1 14. 5 0. 5 75.2 72. 7 22.0 -19.4 118.4 72.1 24.5 21 .8 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant S e q u l a m e n t Inventories 20 -120.5 -125.3 -130. 6 -76.7 -20.4 21 0.4 3.6 -1 .9 -.8 22 -68.3 -73.9 -47 .7 -10.3 75.3 23 1778.1 1704.3 1656. 5 1646.3 1721.5 Data are in billions of d o l l a r s . " • C h a n g e in the value land h o l d i n g s + Other revaluations 8 12 13 14 15 16 17 18 1 9_ of 20 21 = Change in net w o r t h 22 Memo: Net worth outstanding 23 June 8, 1995 Nonf inane lal C o r p o r a t i o n s Nonf inane ial C o r p o r a t i o n s 74 Factors Accounting for C h a n g e in Met W o r t h Annual Flows Annua 1 Flows 1945 1946 1947 1948 1949 1950 R. 1 04 N o n * a r m Non< inane ial C o r p o r a t e 1 G r o s s investment of nonf inane ial corporate business sector, from flow of funds accounts 7.1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in l i a b i l i t i e s 18.8 -11.7 -1.4 10.3 6 • C o r p o r a t e equity issues 7 - M i n . rights from U.S. govt. 1.0 2 3 4 5 10 = Net investment flow, B a l a n c e Sheet basis 11 - D e p r e c i a t i o n valuation adj. D e p r e c i a t i o n charges 12 - C a p . consump. a l l o w . , NIPA 13 14 • R e v a l . of p h y s i c a l assets C n a n g e in value 15 Depreciation charges 16 - G r o s s p u r c h a s e s CI) 17 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant S equipment I n v e n t o r i e s (1) 18 19 20 21 22 * C h a n g e in the value of land h o l d i n g s 23 * R e v a l . of fgn. dir. C h a n g e in value 24 - D i r e c t investment 25 26 - R e v a l . of dir. inv. C h a n g e in value 27 - D i r e c t investment 28 29 • Other Tangibles 32 = Net and are 1..3 2. 1 " - 7.4 -5.3 9. 0 -5. 9 10.4 -2.2 11.2 1.9 12.. 0 -5., 0 13 .8 -1 .2 14.8 1.0 15 .8 -1 . 0 6.0 10. 4 8.3 5.8 10., 4 11 .5 8.3 9. 0 M 7.3 7.4 » 9. 0 9. 0 M 10.4 10.4 * 11.2 11.2 » 12.. 0 12.. 0 13 .8 13 .8 14.8 14.& 15.8 15 .8 11 12 13 * . 14.2 30.9 7 . 3 24.0 13. 3 23. 3 9 .0 24. 0 7.6 20 . 1 10.4 22.9 1.2 3.1 11.2 13.1 10. 2 27.. 1 12.. 0 29., 0 9. 0 26 . 9 13 .8 31 .8 3.7 13.1 14.8 24.3 1 .8 13 . 0 15 .8 27 . 1 14 15 16 17 14.2 -.3 13.6 0.9 13. 3 2 13. 9 4 7.6 -.3 6.8 1.2 1.2 10. 2 -1 . 0 9 .4 1 .7 9. 0 2.8 -1.5 3.7 -.4 4. 0 0.1 1 .8 , . 1 2. 1 -•.2 18 19 20 21 9. 2 - .2 1 .3 1 ,. 9 (2) 0.2 0. 7 1. 1 0 .5 0. 9 1.7 0.8 0 .3 1 .5 0. 7 23 24 25 0 .1 0. 1 0. 1 0.2 0.1 0 . 1 " * 0 .4 0. 4 0. 1 0. 2 0 3 0. 1 0 . 1 0.2 0. 1 0. 2 0. 3 0 .1 26 27 28 0 .2 0.4 0.4 0. 3 0 .3 31 .6 17.5 8.5 25. 3 25 .5 14.1 13. 2 194. 5 212.0 245. 8 271 .3 285.4 298. 6 6.0 10. 4 8.3 5.8 10. 4 11 .5 8.3 9. 0 -.2 18.6 5.3 24.0 0 .5 18. 7 5. 7 24. 0 1 . 1 17.5 6.5 22.9 1.6 7 . 4 7.3 13. 1 0. 5 21 .4 8. 1 29. 0 0. 9 23 . 7 9. 0 31 .8 0 . 6 14.9 9.9 24.3 1 16 . 0 11 .0 27 . 1 * in U.S. (2) * 0.1 28. 1 152.9 220 . 4 0 . 1 , 1 29 30 on h i s t o r i c a l - c o s t basis: flow 0.8 3 .4 0.3 -2.1 5.3 7.4 3 2 5. 7 9 .0 -3.9 6.5 10.4 " -3.9 7.3 11.2 0. 3 -3. 9 8. 1 12. 0 33 34 35 36 0..3 -.3 0 ,5 -4 . 9 9,. 0 13..8 -4.9 9 . 9 14.8 -4.. 9 , 0 15. 8 38 39 40 dir. invest. -.2 0 .4 0 . 5 0 . 4 0. 5 0 .7 0 . 9 0. 8 41 inv. in U.S. " 0. 1 0.1 0.1 0. 4 0,.2 0.1 0. 2 42 -.4 1 .1 -.3 -.5 0. 1 - « -1.. 0 63 8.0 15. 9 13.7 11.2 15. 3 13. 9 44 outstanding 1.2 4 .2 in net worth in billions - 0 .5 1 .1 0. 6 (1) B e f o r e inventory valuation a d j u s t m e n t . (2) E x c l u d e s capital gains. (3) E f f e c t of different treatment of certain items in BEA capital accounts from the NI PA accounts in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for inter sectoral t r a n s f e r s of a s s e t s . Data 1 .8 1 . 0 4. 4 revaluations Memo: 45 Net w o r t h 2.3 I 1 . 0 .4 1 . 0 0.6 38 - D e p r e c i a t i o n valuation adj. 39 Depreciation charges 40 - C a p . consump. a l l o w . , NIPA 44 = C h a n g e 26 . 1 - 4 .1 2 .2 6 .3 0.7 • C h a n g e in the value of land h o l d i n g s 43 + Other 22 . 1 25.3 -3.5 4.5 8.0 0.5 1 . 2 0 . 7 37 of dir. 21.8 30 .6 - 8 .5 .3 15 .9 0.7 net worth + R e v a l . of fgn. 22 . 0 24,. 0 -7,,9 16..3 24 2 0 .4 1 .1 0. 7 33 34 35 36 42 - R e v a l . 16,. 1 14.9 2.7 3.5 0.8 7. 4 • V a l u a t i o n a d j u s t m e n t on p h y s i c a l assets (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 41 17.7 20.7 -5.1 4.9 10.1 -.2 outstanding investment 15.6 18., 1 -5. 7 8. 3 14. 0 8.0 in net worth Memo: 31 Net worth 1953 invest. revaluations 30 = C h a n g e 1952 12. 4 - 8 - C a p i t a l c o n s u m p . a l l o w . , NIPA 9 - I n v e n t o r y v a l u a t i o n adj. 1951 Bus iness of dollars. .6 17,.6 14.3 June 8, 1995 Nonfinsnclal Corporations Nonfinancial Corporations Factors Accounting for Change in Net Worth 75 Annual Flows Annual Flows 1956 1954 1957 1958 1959 1960 R.104 Nonfarm NonfInanelal Corporate Business 1 22. 9 25 .5 26.3 28.0 27. 6 33. 5 29.8 34.6 38.7 Gross investment of nonf inanelal corporate business sector, from flow of funds accounts 1 2 3 4 5 23. 0 2 4. 8 5. 0 32 .6 -7 . 1 16 .4 23 .6 37. 0 -10.7 3.9 14.6 35.7 -7.7 4. 1 11.8 28. 0 4 10. 7 11 .1 37. 8 -4. 2 14. 1 18. 3 37.7 -7.9 3.3 11.7 36.5 -1.9 14.1 16.0 42.2 -3.5 12.3 15.8 Capital expenditures Net financial investment Net acq. of finan. assets -Net Incr. in liabilities 2 3 4 5 6 7 1 .6 1 .7 2.3 2.4 2. 0 2. 1 1.4 2.1 0.4 Corporate equity issues Min. rights from U.S. govt. 6 7 8 9 16. 7 3 17 .8 -1 .8 20.0 -2.7 22. 0 -1.5 23. 0 3 24. 1 3 25.1 -.2 25.8 0.3 Capital consump.allow., N1 PA Inventory valuation adj. 8 9 10 8. 0 11 .2 11.2 10.0 6. 8 11 .8 6.3 11 12 13 * 16. 7 16. 7 17 .8 17 .8 20. 0 20. 0 22.0 22.0 23. 0 23. 0 24. 1 24. 1 25. 1 25.1 25.8 25.8 26.7 14 15 16 17 1 .5 9. 1 16. 7 23. 3 1 0.5 27 . 1 17 .8 34 .4 16.0 35.7 20 . 0 39.7 6.6 21.8 22. 0 37.2 1 .2 6. 5 23. 0 28. 3 4. 0 18. 0 24. 1 38. 1 -1.5 11.3 25.1 37.9 10.1 25.8 36.2 16.5 26.7 42.2 18 19 20 21 1 .5 6 1. 8 0. 3 1 0.5 .3 10 . 0 0 .8 16.0 0. 2 15.2 0.6 6.6 0.1 7.0 -.5 1 .2 3 2. 0 5 4. 0 0. 1. 3. 7 0. 2 -1.5 0.1 -1.8 0.2 22 0. 1 4 .7 7.1 3.9 2. 0 0 .5 2.0 23 24 25 0. 7 1. 3 0. 6 0 .9 1. 7 0. 7 1 .2 3.0 1.9 0.4 2.8 2.3 0. 8 1 .9 1 .1 1 .0 2. 3 1 .3 -.9 1.9 2.8 26 27 28 0. 2 0. 2 0 .1 0 .2 0. 3 0. 1 0.2 0.4 0.2 0. 1 0.3 0.1 0 .2 0 .3 0. 1 0. 2 0. 4 0. 2 0.2 0.2 * 29 0 .1 0 3 0.2 30 10 . 3 27 .4 35.5 31 308. 9 336 . 3 371 .8 * 0.3 21 . 1 393.0 * Net investment flow, Balance Sheet basis * -.4 0.1 -1 . 1 0.7 26.8 1.0 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 14 15 16 17 1.0 Revaluation by type of asset Residential structures Nonres. plant S equipment Inventories C D 18 19 20 21 Change in the value of land holdings 22 0.1 0.6 0.3 0.2 2.7 2.5 3 2.4 2.7 Reval. of fgn. dir. invest. Change in value -Direct investment (2) 23 24 25 0.3 0.3 0.3 0.3 Reval. of dir. inv. in U.S. Change In value -Direct investment (2) 26 27 28 * » 0. 3 2 11. 0 17. 0 5.9 404. 0 420. 9 426.8 10 Depreciation valuation adj. 11 Depreciation charges 12 -Cap. consump. allow., NIPA 13 -.2 13.8 456.7 Other revaluations 29 Change 30 Net worth in net worth outstanding Tangibles and net worth on historical-cost basis: 6.3 33 34 35 36 -.9 10.4 12.1 23.3 - .5 20.7 13.1 34.4 - .5 24.8 14.3 39.7 -1.3 20 . 4 15.6 37.2 -4.7 16.7 -4.7 13.1 17.8 41 0.7 0.9 1.2 0 .4 0.8 1.0 42 0.2 0.2 0.2 0. 1 0.2 0.2 43 -.5 44 12.0 226.5 12.1 -6.3 16.8 23.0 0.9 21 . 2 17.8 38. 1 38 39 40 -5.7 14.3 20 . 0 -6 . 4 15.6 22. 0 0.6 12.1 16.8 28.3 -6.3 17.8 24. 1 10.6 12.3 = • valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross ourchases (1) 33 34 35 36 + Change in the value of land holdings 37 0.2 19.1 19.0 37.9 1.7 17.7 20.2 36.2 0.7 21.5 21.5 42.2 1.5 2.1 1.9 -6.1 19.0 25.1 -5.6 20.2 25.8 -5.3 21.5 26.8 -.9 0.2 -.3 * * * Net investment flow 32 - Depreciation valuation adj. 38 Depreciation charges 39 -Cap. consump. allow., NIPA 40 + Reval. of fgn. dir. - Reval. of dir. invest. 41 inv. in U.S. 42 -2.2 -.6 -1.8 -3.1 -3.4 -3.9 -3.4 + Other revaluations 43 17.0 16.4 15.5 14.0 18. 1 9.8 16.4 16.6 = Change in net worth 44 243.8 262.5 279 .0 295.1 329.5 349.5 369.5 Memo : Net worth outstanding 45 316.2 (1) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in 8EA capital accounts f r o m the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in billions of dollars. June 8, 1995 NonfInancial Corporations N o n f i n a n c i a l Corporations Factors Accounting 76 for Change in Net Worth Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 R.104 Nonfarm Nonfinancial Corporate Business G r o s s Investment of nonf inane ial corporate b u s i n e s s sector, from flow of funds a c c o u n t s 39.4 40. 9 47.1 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets -Net incr. in l i a b i l i t i e s 44.4 -5.0 15.5 20.5 49..8 -8..9 14..7 23..6 60.8 -13.8 21.6 35.4 6 • C o r p o r a t e equity issues 7 - M i n . rights from U.S. govt. -.3 1 2 3 4 5 1., 1 » 54 . 7 55.. 7 56. 2 74,.5 -19,.9 16 .5 , 36..4 71 .2 , -15..5 16..2 31 . ,7 75. 6 -19. 4 30. 5 49. 9 1 .3 . 2.. 4 ~ - 2 0. 3 58. 2 85. 2 -27,, 0 31. 3 58. 3 . 3.,4 54,, 0 68. 3 1 87.,4 -19.,2 36.. 1 55.,3 2 3 4 5 5. 7 0,.1 11 ,4 , 0, 2 6 7 8 9 81.,7 -27. 7 18. 3 46.. 0 • 27.9 0.1 29. 3 ,5 31.3 -1.2 34.. 1 -2.. 1 37. 3 -1 .6 41 .1 -3. 7 45.. 0 -5. 9 49. 4 -6. 6 54. 2 -4. 6 11 - D e p r e c i a t i o n valuation adj. 12 D e p r e c i a t i o n charges 13 - C a p . con sump. a l l o w . , NIPA 27.9 27.9 29.3 29.3 31.3 31.3 34. 1 34. 1 37.3 37.3 41 . 1 41 . 1 45.0 45.0 49.4 49.4 54.2 54.2 14 • R e v a l . of physical assets 15 Chan ge in value 16 D e p r e c i a t i o n cnar ges 17 - G r o s s p u r c h a s e s (1) 18.5 27.9 44.3 5.0 25. 9 29.3 50.3 7.4 38. 1 31.3 62.1 15.0 57.5 34. 1 76.6 12.5 47.9 37 . 3 72.7 25.3 63.1 41 . 1 78.9 26.3 72.4 45. 0 91 . 1 28.8 67.5 49.4 88.1 34.4 72. 0 54.2 91.9 15.0 0.4 12.3 2.3 12.5 0.3 12.4 -.2 25.3 0.8 22.6 1.9 26.3 0 . 7 23. 0 2.6 28.8 0.4 29 . 9 -1.6 5.9 10.5 4.6 -1.8 2.8 4.6 1.8 5.9 4.1 2.8 5.6 2.8 3.4 8.0 4.5 3.7 10.0 6.3 5.6 11.5 5.9 23 24 25 0,4 0.5 0.4 0.4 0.3 0.7 1.4 1.4 0.4 0.3 0.1 26 27 28 8 - C a p i t a l c o n s u m p . a l l o w . , NIPA 9 - Inventory valuation adj. 10 = Net investment flow, B a l a n c e Sheet basis 18 19 23 21 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant 5 equipment I n v e n t o r i e s (1) 2. 1 2. 1 0.7 1.4 5.0 0.2 3.6 1.2 • C h a n g e in the value of 22 land h o l d i n g s 23 • R e v a l . of f g n . dir. invest. 24 C h a n g e in value 25 - D i r e c t i n v e s t m e n t (2) 3.3 3.3 3.6 3.6 26 - R e v a l . of dir. inv. 27 C h a n g e in value 28 - D i r e c t investment 0.2 0.2 0.3 0.3 29 • Other (2) in net w o r t h Memo: 31 Net worth Tangibles and net worth 33 34 35 36 37 • Change in the value of land f o l d i n g s 38 - D e p r e c i a t i o n valuation adj. 39 D e p r e c i a t i o n cnarges 40 -Cap. c o n s u m p . a l l o w . , NIPA 41 • R e v a l . of fgn. dir. 42 - R e v a l . of dir. inv. 0. 1 0.8 43. 4 57.0 -.1 1.8 0.2 29 68. 1 65. 7 86.5 30 16.7 29..9 32 -4,.3 45,. 1 42. 5 91 .9 , 33 34 35 36 2,. 1 37 11.1 1 1.8 23.3 22.8 44.3 0.7 26.7 24.3 50.3 4.7 40.6 26 . 2 62.1 0.8 49 . 0 28.4 76.6 - . 2 41 . 7 30 . 9 72.7 1.8 47.4 33.4 78.9 5.4 60.1 36.3 91 . 1 -3.2 45.5 39.4 88.1 -5.0 24.3 29.3 -5.1 26.2 31 . 3 -5.7 28.4 34. 1 -6.4 30.9 37.3 -7.8 33.4 41 . 1 -8.7 36.3 45.0 -9.9 39.4 49.4 -11,.8 42..5 54,.2 38 39 40 5..6 41 2.2 -5.1 22.8 27.9 2.3 * 1 .8 3.4 3.7 in U.S. * 0.1 -.1 " -3.1 -.3 - .3 -.9 -.4 0.7 0.3 3.2 in net worth 17.1 20.4 35.3 30.2 32.3 33.3 44.8 32.6 outstanding 389.7 587.7 618.9 (1) B e f o r e inventory valuation a d j u s t m e n t . (2) E x c l u d e s capital gains. (3) Effect of d i f f e r e n t treatment of certain items in 3EA capital accounts from the NIPA a c c o u n t s in the calculation of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for intersectoral t r a n s f e r s of assets. are -.1 43.4 invest. revaluations Memo: 45 Net worth Data 0.2 1.1 1.2 on hi tor ical-cost basis: flow • V a l u a t i o n adjustment on physical assets (3) C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s (1) 44 = C h a n g e -.1 0.8 0.8 outstanding investment 43 • Other 0.1 23.0 revaluations 30 = C h a n g e 32 = Net in U.S. in b i l l i o n s of dollars. 0.. 1 42 . 1 43 44..9 44 664 . 1 45 June 8, 1995 Nonfinanelal Corporations Nonf inancial C o r p o r a t i o n s Factors Accounting for C h a n g e in Net Worth 77 Annual F l o w s A n n u a l Flows 1972 1974 1975 1976 1977 1978 1980 R . 1 0 4 N o n f a r m Nonf inane ial C o r p o r a t e B u s i n e s s 89 . 0 121 .3 136.1 143 . 7 188.2 224 .6 198 . 1 G r o s s investment of nonf inane ial corporate business sector, from flaw of funds a c c o u n t s 1 .4 . 4 .3 .8 116 .2 5 .2 39 .7 34 .6 155.7 -19.6 51.7 71.2 184 .3 - 4 0 .6 60 .3 100,.9 221,.9 33 .7 105. 7 139.,4 242 -17 127 145 252 .4 - 5 4 .3 8 2 .1 136 . 4 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets -Net incr. in l i a b i l i t i e s 2 3 4 5 4 .1 1 .5 9 .9 0 .2 10.5 0.7 • C o r p o r a t e equity issues - Min. r i g h t s from U.S. govt. 6 7 65. 6 -20. 1 76 .8 -39 .5 92 .2 -11 .0 102.5 -14.9 114,.8 -16,.7 - C a p i t a l c o n s u m p . a l l o w . , NIPA - Inventory v a l u a t i o n adj. 8 9 27. 4 54,.2 49 .8 58.4 65. 9 1 74 .2 2 3 4 5 99 . 1 - 2 4 .9 49 .4 74 .3 6 7 10 .9 0 .2 7. 9 0. 9 8 9 60 .5 -6 .6 10 31 .0 122. 6 -56. 6 69. 8 126. 4 138 -49 51 100 * 2. 7 0,.4 .2 .6 .6 .2 , 1 0. 3 -7 .8 0 .8 10,.4 1 .1 131., 1 -25., 1 151 .6 , -41 .6 , 173 .2 -43.0 47,.8 81. 8 106.. 0 102.5 102.5 114..8 114. 8 3 130. 8 131 .1 .4 151 ! .1 151..6 .4 172!.8 173, 2 - D e p r e c i a t i o n v a l u a t i o n adj. 11 Depreciation charges 12 - C a p . c o n s u m p . allow., NIPA 13 76.7 144.2 102.5 170.0 98., 9 184..6 114.,8 200.,6 135. 9 251. 8 130. 8 246. 7 188..8 320,. 6 151.. 1 283,, 0 231. 3 352. 9 172..8 294. 3 + R e v a l . of p h y s i c a l assets C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s (1) * 77,.2 = Net investment flow, B a l a n c e Sheet basis 10 11 12 13 60 .5 60.5 65. 6 65. 6 76 .8 76 .8 14 15 16 17 47 . 0 92 . 0 60 .5 105..5 67. 5 143. 7 65. 6 141 .8 144 . 1 243,.6 76 .8 176,.3 106 161 92 127 18 19 20 21 47 . 0 1 .7 . 44 . 0 1,.3 67. 5 1 .5 58. 2 7. 8 144,. 1 1,.6 126,. 1 16.. 4 106 .4 1 .4 , 101..7 3 .3 7 6.7 1.6 68.4 6.7 98., 9 2. 4 90. 2 6. 2 135. 9 2. 7 119. 5 13. 7 188..8 3..1 147, 3 38..4 231 .3 3.. 0 193. 3 35., 0 22 19, 3 29. 8 35. 9 29 .4 29.5 36. 6 46. 6 57 ,9 61 .9 + C h a n g e in the value of land h o l d i n g s 22 23 24 25 19. 5 24,.5 5.. 0 8. 9 18. 1 9. 2 12., 0 19. 8 7. 8 15.. 6 23 2 12..6 13.0 19.9 9.8 30. a 40. 0 9. 2 22. 4 36. 5 14. 1 27. 6 52. 2 24. 6 30. 9 53,, 1 22. 2 + R e v a l . of fgn. dir. C h a n g e in value - D i r e c t investment invest. 23 24 25 26 27 28 3 0, 6 0,.9 2. 7 5. 2 2. 5 , 1 4. 5 4. 6 .1 2, 2. 2 16.9 20.4 3.5 4. 0 7 .2 3. 2 5. 0 12. 0 7. 0 6. 9 15. 9 9. 1 17. 6 30.8 13. 2 - Reval. of dir. inv. Change in value -Direct investment in U.S. 92 .2 92 .2 .4 . 1 .2 .0 29 0.•1 10. I 30. 7 -1 .7 . 2.8 -1 .8 0. 1 0. 8 3. 1 30 117,.2 141. 0 277..0 194, 6 160.6 208. 3 282. 1 374. 6 387. 2 31 1013,.7 1154. 7 1431 . 7 1626 ,3 1756.9 1995. 1 2277 .3 2651 .8 3039. 1 27. 4 54. 2 49 .8 58.4 47. 8 81 .s Tangibles 32 33 34 35 36 31 . 0 9. 5 68.7 66.3 105.5 4. 6 96.2 50.2 141.8 2., 4 123.7 55.1 176.3 37 3 .4 38 39 40 14..2 46..3 60,.5 41 19..5 8. 9 12.. 0 42 .3 2. 7 , 1 5 .2 -15..4 50.. 2 65..6 3. 1 -21..7 55,. 1 76 .8 -4. 8 61.8 60.4 127.0 0 .7 -31 .9 . 60 , .4 92,.2 10,.6 - .. 1 -3.6 100.2 66.1 170.0 1 .9 129.0 73.5 200.6 2,. 1 3 .2 -36..4 66.. 1 102, 5 .4 -41 , 73. 5 114,,8 10., 0 16. 9 8. 6 172.5 82.8 246.7 3..9 106. 0 27. 0 215.8 94.2 283.0 4. 3 and 3 187.5 106.6 294.3 6. 0 in net w o r t h 30 Net worth outstanding 31 Net investment flow 32 V a l u a t i o n a d j u s t m e n t on p h y s i c a l assets (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) land h o l d i n g s 37 22. 4 27. 6 30..9 • R e v a l . of fgn. dir. invest. 61 5. 0 6. 9 17. 6 - R e v a l . of dir. lnv. in U.S. 42 31..8 1 ,4 . 4.,0 0,,7 3. 7 10. 1 3..0 125..4 89 , .6 90. 5 121. 8 163. 8 225. 5 165..8 1230.4 1390.6 1606.8 1772.7 - Deprec iat ion v a l u a t i o n adj. Depreciation charges - C a p . c o n s u m p . a l l o w . , NIPA in billions of d o l l a r s . 38 39 40 + Other r e v a l u a t i o n s 43 = Change 44 Memo: Net worth in net w o r t h outstanding (1) Before inventory valuation a d j u s t m e n t . (2) E x c l u d e s capital gains. (3) Effect of d i f f e r e n t treatment of certain items in BEA capital accounts from the NIPA accounts in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flews; also reflects a d j u s t m e n t s for i n t e r s e c t o r a l transfers of assets. Data are 33 34 35 36 4..0 8. 6 1111.1 29 = Change 30..8 67. 5 1021.8 revaluations 26 27 28 -66 .6 106,.6 173 2 1. 4 935.3 (2) -57..4 94. 2 151..6 79. 3 811.1 + Other (2) -48. 2 82.,8 131 . , 1 43 742.1 R e v a l u a t i o n by type o* asset 18 Residential structures 19 N o n r e s . plant S equipment 20 I n v e n t o r i e s C1) 21 ne 77. 2 44 45 14 15 16 17 June 8, 1995 Nonfinanclal Corporations NonfInanclal Corporations 78 Factors Accounting for C h a n g e in N e t W o r t h Annual Flows Annual F l o w s 1981 1982 1983 1984 1985 1986 1987 1988 1989 R . 1 0 4 N o n f a r m Nonf inane ial C o r p o r a t e B u s i n e s s G r o s s investment of nonf inanclal c o r p o r a t e b u s i n e s s sector, from flew of funds a c c o u n t s 262.8 259.2 258.1 320.3 325.2 299.5 303.6 345.9 341.2 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. a s s e t s -Net incr. in l i a b i l i t i e s 309.9 -47.2 108.4 155.6 278.8 -19.6 64.6 84.1 294.0 -35.9 116.4 152.3 391.6 -71.2 103.8 175.0 370.2 -45.0 97.0 142.0 364.2 -44.7 157.5 202.1 361.5 -57.9 130.9 391.0 -65.1 184.8 229.9 401.1 -59.9 108.3 168.2 6 • C o r p o r a t e equity issues 7 - M i n . r i g h t s from U.S. govt. -13.5 1.4 1.9 20.0 1.3 -79.0 -84.5 0.4 -85.0 -75.5 0.2 -129.5 0.3 -124.2 8 9 205.3 -25.7 227.5 240.1 8 5 246.1 -4.1 256.0 0.3 269.2 9.8 279.2 -14.5 295.1 -27.3 314.8 -17.5 65.2 -36.8 -.7 -7.0 233.1 240.1 -3.2 242.9 246.1 256.0 256.0 269.2 269.2 279.1 279.2 295.1 295.1 313.0 314.6 -1.8 11 12 13 12.3 80.4 233.1 301.2 41 .8 193.5 242.9 394.6 31.0 144.7 256.0 369.6 113.1 269.2 333.7 68.6 69.2 165.8 279.1 375.8 244.7 295.1 418.0 106.7 212.2 313.0 418.5 14 15 16 17 12.3 56.9 -37.5 -7.2 41.8 31.0 1.4 39.8 48.6 1.5 56.2 -9.0 69.2 2.1 53.9 13.2 110.0 11.9 106.7 1.7 99.8 5.2 19 20 21 -19.9 -20.1 -8.2 12.0 11.3 20.1 8.7 13.6 25.7 37.6 59.5 21.9 2.2 -2.0 1 2 3 4 5 - C a p i t a l c o n s u m p . a l l o w . , NIPA - I n v e n t o r y v a l u a t i o n ad J. = Net investment flow, 10 Balance Sheet basis 1.0 -10.0 68.3 11 - D e p r e c i a t i o n v a l u a t i o n adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA 202.5 205.3 14 • R e v a l . of p h y s i c a l assets 15 C h a n g e in value 16 Depreciation charges 17 - G r o s s p u r c h a s e s C1) 200.9 332.6 202.5 334.2 18 19 20 21 200.9 75.6 184.5 14.3 84.2 -9.8 7.1 18.6 11.5 -19.8 -9.3 -11.8 9.4 30.0 20.6 4.9 13.0 -2.9 5.0 22 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant & e q u i p m e n t I n v e n t o r i e s (1) 26 - R e v a l . of dir. inv. 27 C n a n g e in value 28 - D i r e c t investment 29 • Other 226.8 227.5 75.6 136.6 226.8 287.8 1.2 2.1 invest. (2) in U.S. (2) Net 20.9 18.7 15.8 17.8 8.2 8.2 40.2 32.1 60.4 52.3 7.3 5.6 -1.6 17.5 19.1 23 24 25 1.9 71.3 69.4 -5.4 56.4 61.8 28 26 27 -4.4 -3.1 6.4 -28.2 25.2 4.9 29 59. 1 64.4 28.9 72.9 156.7 102.3 30 3536.6 3685.9 3809.3 3638 .2 3911 .2 4067 .8 4170 .1 31 42.6 45.2 -15.9 - 6 5 .2 -36 .8 -51 .7 -80 .4 32 211.8 120.6 334.2 -3.5 148.5 135.7 287.8 152.3 150.2 301.2 -16.2 213.1 165.3 394.6 -10.1 177.0 182.6 369.6 .9 134 .4 198 .4 333 .7 - 2 .9 161 .1 211 .7 375 .8 I .5 195 . 0 224 .5 416 .0 - 2 3 .8 155 .9 238 .6 416 .5 33 34 35 36 12.1 6. 3 6, 5 17,.5 16 .0 37 -84.7 120.6 205.3 -91.8 135.7 227.5 -90.0 150.2 240.1 -80.8 165.3 246.1 -73.4 182.6 256.0 -70. 8 196. 4 269. 2 -67. 4 211. 7 279. 2 -70. 6 224. 5 295..1 -76..0 238 .3 314. 8 36 39 40 Invest. 7.1 -19.8 -19.9 -20.1 11.3 13. 6 37. 6 2. 1 -1. 6 41 in U.S. 9.4 4.9 -2.9 2.2 -2.0 6. 2 8. 2 1. 9 -5. 4 42 on h i s t o r i c a l - c o s t oasis: 68.3 37 • C h a n g e in the value of land h o l d i n g s 36 - D e p r e c i a t i o n valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA lnv. 8.0 12.1 62.9 flow fgn. dir. 8.1 8.2 65.5 2.1 149.3 33 34 35 36 41 • R e v a l . of 10.8 18 14.9 • V a l u a t i o n adjustment on p h y s i c a l assets (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s t1) 4 2 - R e v a l . of dir. -.1 153.5 outstanding investment 121.8 6.1 T a n g i b l e s and net w o r t h 56 -10.2 121.8 0.2 339.0 in net w o r t h Memo: 31 Net worth 1.1 36.5 4.1 0.8 42.5 revaluations 30 = C h a n g e 32 -2.8 • C h a n g e in the value of land h o l d i n g s 23 • R e v a l . of fgn. dir. 26 C n a n g e in value 25 -Direct investment 1. 0 188.8 -1.8 1.2 6.6 2.6 -20.6 15.4 -5.8 4. 0 -17. 4 6. 1 5. 5 43 in net worth 166.3 115.1 105.2 64.0 67.2 20. 5 48. 2 44. 2 -2. 9 44 Memo: 4 5 Net worth o u t s t a n d i n g 1936.6 2063.8 2366.6 2389. 6 2427. 0 2490. 2 2486. 7 45 43 • Other 44 » C h a n g e revaluations (1) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s capital gains. (3) E f f e c t of d i f f e r e n t t r e a t m e n t of certain items in 3EA capital a c c o u n t s <rom the NIPA a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for inter sectoral t r a n s f e r s of assets. Data are in b i l l i o n s of d o l l a r s . June 8, 1995 Nonfineneiel Corporetions Nonfinancial Corporations Fsctors Accounting for Change in Net Worth 79 Annuel Flows 1990 Annuel Flows 1991 1992 1993 1994 R . 1 0 4 N o n f a r m Nonf inane ial C o r o o r a t e B u s i n e s s 1 364.8 389.7 405.6 433.0 473.4 G r o s s investment of n o n f I n a n c i a l corporate business sector, from flow of funds a c c o u n t s 1 2 3 4 5 402.8 -38.0 85.9 123.9 379.8 9.9 55.6 45.7 386.0 19.6 141.8 122.2 440.4 -7.4 83.0 90.5 510.4 -37.0 152.7 189.8 Capital expenditures Net f i n a n c i a l Investment N e t acq. of finan. assets - N e t incr. in l i a b i l i t i e s 2 3 4 5 6 7 -63.0 0.2 18.3 -.1 27.0 21.3 -40.9 • C o r p o r a t e equity Issues - Min. r i g h t s from U.S. govt. 6 7 8 9 326.6 -11.0 338.6 5.8 349.3 -6.5 357.6 -6.2 376.3 -19.5 - C a p i t a l c o n s u m p . a l l o w . , NIPA - Inventory v a l u a t i o n adj. 8 9 10 -13.9 63.7 89.7 102.8 75.7 11 12 13 -2.7 323.9 326.6 -1.6 336.9 338.6 -1.4 348. 0 349.3 1.1 358.7 357.6 -9.0 367.3 376.3 - D e p r e c i a t i o n valuation adj. 11 Depreciation charges 12 - C a p . c o n s u m p . allow., NIPA 13 14 15 16 17 89.4 179.2 323.9 413.6 9.9 47.0 336.9 374.1 43.9 88.4 348. 3 392.5 78.2 166.0 358.7 446.6 99.1 261.7 367.3 529.9 • R e v a l . of p h y s i c a l assets C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s (1) 18 19 20 21 89.4 1.3 73.8 14.3 9.9 1.4 15.7 -7.2 43.9 1.1 38.9 3.9 78.2 1. 0 72.3 4.8 99.1 1.3 83.3 14.5 22 -187.7 -330.3 -312.2 -20.3 3.4 23 24 25 26.8 54.6 27.8 -4.0 25.3 29.3 -28.0 6.3 34.3 -20.9 21.0 41 .9 26 27 28 -10.9 45.0 55.9 -7.4 4.6 12.0 4.7 13.6 9.0 0.5 -9.4 -9.8 " = Net Investment flow, B a l a n c e S h e e t basis 10 14 15 16 17 R e v a l u a t i o n by type of asset 18 R e s i d e n t i a l structures 19 N o n r e s . olant 8 e q u i p m e n t 20 I n v e n t o r i e s (1) 21 • C h a n g e in the value of land h o l d i n g s 22 -.5 55.3 55.7 * R e v a l . of fgn. dir. C h a n g e in value - D i r e c t investment 23 24 25 7.4 44.9 37.5 - R e v a l . of dir. inv. C h a r g e In value - D i r e c t investment 29 11.0 3.8 -4.0 -19.1 -1.0 30 -60.9 -246.0 -213.8 119.2 178.2 31 4109.3 3861.3 3647.5 3766.7 3944.9 32 -13.9 63.7 89.7 102.8 75.7 * Other T a n g i b l e s and 33 34 35 36 -16.7 148.3 248.6 413.6 6.5 120.8 259.8 374.1 -9.4 113.9 269.2 392.5 -1.7 166.6 278.2 446.6 -3.5 238.9 287.6 529.9 37 16.9 4.6 8.7 7.2 6.7 38 39 40 -78.0 248.6 326.6 -78.8 259.8 338.6 -80.2 269.2 349.3 -79.4 278.2 357.6 -88.8 287.6 376.3 invest. (2) in U.S. (2) revaluations 26 27 23 29 = Change In net worth 30 Memo: Net worth outstanding 31 net worth = Net on h i s t o r i c a l - c o s t investment basis: flow 32 • V a l u a t i o n a d j u s t m e n t on p h y s i c a l assets (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 33 34 35 36 • C h a n g e in the value of land h o l d i n g s 37 - D e p r e c i a t i o n valuation adj. 38 Depreciation charges 39 - C a p . c o n s u m p . a l l o w . , NIPA 40 41 26.8 -4.0 -28.0 -20.9 -.5 + R e v a l . of fgn. dir. invest. 41 42 -10.9 -7.4 4.7 0.5 7.4 - R e v a l . of dir. in U.S. 42 43 19.3 26.7 -19.1 20.7 -199.6 44 121.2 183.7 117.4 187.1 -39.9 45 2599.6 2760.2 2892.8 3040.1 3198.9 • Other inv. revaluations in net w o r t h 44 Memo: Net worth outstanding 45 (1) Before inventory valuation a d j u s t m e n t . (2) E x c l u d e s capital gains. (3) Effect of d i f f e r e n t treatment of certain items in 3EA capital a c c o u n t s from the NIPA a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for l n t e r s e c t o r a l t r a n s f e r s of assets. Data are in billions of d o l l a r s . 43 = Change June 8. 1*95 Private Financial Institutions 80 Private Financial Factors Accounting for C h a n g e Institutions in Met W o r t h Annual Flows Annual Flows 1945 1946 1947 1946 1949 R . 1 3 4 Private F i n a n c i a l 1 G r o s s Investment of p r i v a t e f i n a n c i a l i n s t i t u t i o n s , from flow of funds a c c o u n t s 1.2 I .0 1 .3 1 .2 2 3 4 5 Capital expenditures N e t f i n a n c i a l Investment Net acq. of finan. assets - N e t incr. in l i a b i l i t i e s 0.2 1.0 -2.1 -3.1 0 .3 0 .7 12 .6 11 .9 0 .3 1 .0 10 .5 9 .5 0 .3 0 .9 13 .3 12 .4 6 • Corporate 7 - Capital equity issues 6 = Net Investment flow, B a l a n c e Sheet basis 1950 1951 1952 1953 Institutions 2 .1 0 .4 1 .8 21 . 1 19 .3 0.9 1.8 2.3 1 0.4 0.5 20.6 20.1 0.4 1.4 27.8 26.4 0.6 1.7 23.5 21.8 2 3 4 5 0.1 0 .4 0 .2 0 .3 0 .4 0.4 0.3 0.6 6 0.2 0 .2 0 .2 0 .3 0 .3 0.3 0.3 0.3 7 1.1 1 .2 1 .2 1 .3 2 3 1.0 1.8 2.6 8 3.5 3.5 4,.0 4,.0 4 .3 4 3 4, 5 4 .5 5. 1 5..1 5.4 5.4 7.5 7.5 7.4 7.4 9 10 11 12 - R e v a l . of m u t u a l fund 1 lab. 13 C h a n g e in value 14 - S h a r e s issued -.2 0.3 - ,.1 0.. 1 0. 2 0,.1 0,. 1 1. 2 1 .6 0. 3 0. 3 0. 2 -.2 0.1 0.3 -.1 0.5 0.5 -.2 0.2 0.4 12 13 14 15 • R e v a l . o f r e p r o d u c i b l e a s s e t s 16 C h a n g e in value 17 D e p - e c i a t i o n charges 18 - G r o s s p u r c h a s e s , - O F basis 0.1 0.1 0.2 0.2 0. 1 0. 1 0. 2 0. 3 0. 2 0. 2 0. 2 0. 3 0. 1 0. 3 0. 3 0. 2 0. 3 0. 3 0. 4 0.3 0.4 0.3 0.4 0.1 0.2 0.3 0.4 0.3 0.3 0.6 15 16 17 18 0.2 0. 2 1 0. 2 0. 1 0.1 * -.1 0.2 0.3 1 0. 6 0. 7 1 0. 4 0. 4 1. 6 2. 7 1. 1 0. 4 1. 6 1. 2 0.1 1.0 0.9 0.4 1.8 1.4 -.4 1.3 1.7 20 21 22 - - 23 24 25 consump. allowances - R e v a l . of life insur. and 9 p e n s i o n fund r e s e r v e s 10 C h a n g e in value 11 -Net c l a i m s issued 19 • C h a n g e in the value of land h o l d i n g s 20 • R e v a l . of c o r p . e q u i t i e s held 21 C h a n g e in value 22 -Net p u r c h a s e s 23 24 25 - R e v a l . of investment in bank p e r s o n a l trusts C h a n g e in value -Net invest, by h o u s e h o l d s 26 • Other r e v a l u a t i o n s . - , - 19 " 0. 1 1 * " -.1 -.2 - 26 in iet w o r t h 1.5 i. 6 1. 2 1 .9 2. 9 1.5 2.3 2.4 27 Memo: 28 Net worth o u t s t a n d i n g 23.4 25. 0 26. 1 28. 0 31. 0 32.5 34.8 37.2 28 27 = C h a n g e Data are in b i l l i o n s of d o l l a r s . June 9, 1995 Prlvat. Financial Institution, Private Financial Factors Accounting for C h a n g e Institutions in Net Worth Annual Flows 8 1 Annual Flows 1954 1955 1956 1957 1958 R. 134 °rlvate F i n a n c i a l 1959 I960 1961 1962 Institutions .a i Gross Investment of p r i v a t e ,r m ° , H II II II II H II II l:IFLlibil:r I 2 8 * 4 °'6 1 , 5 ~'* 0 ° 0 , 5 0 0.6 ' 5 "5 1,1 ""9 0•3 + Corporate 0. 6 0 .6 0. 7 - Capital equity issues 6 allowances 7 consump. 3.8 9 0.1 2.3 « : U i % * -.7 2 7 12 n , , . " K *fti !M IX !K iis 1:1 % i:i i:i *:• , , IS : i:* « - » "% « •n « -fcf t i 23 24 25 '* 2 6 r s insur. and r I' •" S s & - • - *c i : : r ^ 3 ^ s u a l u 9 ;• ' " B £ B of r - R e v a l . of investment in bank p e r s o n a l trusts C h a n g e in value -Net Invest. by h o u s e h o l d s * 5,1 Data are S life « « B ii i:i i:i iii « " S S » Z E o.i s R e v a l . of 42 '7 " - 8 in billions of d o l l a r s . 1 , 2 Sl -1 "'* 5 , 3 56 -5 * 5 •5 -•* 5 *3 «. 0 ™•2 7 -.2 •0 2.5 72.0 74.S •Other = Change Z'wortn revaluations in net worth outstanding • » 23 24 25 26 27 28 Prllati Financial Institutions g 2 Prlvata Financial Institutions Factors Accounting for C h a n g e in Net W o r t h Annual Flows Annuel Flows 1963 1964 1965 1966 1967 R . 134 Private F i n a n c i a l 1 2 3 4 5 G r o s s investment of p r i v a t e f i n a n c i a l i n s t i t u t i o n s , from flow of funds a c c o u n t s Capital expenditures. Net f i n a n c i a l investment Net acq. of finan. a s s e t s -Net incr. in l i a b i l i t i e s 1. 7 1. 1 0. 6 59. 7 59. 2 3. 5 1. 7 1. 8 67. 2 65. 4 4,.0 1..9 2,, 0 72 2 70. 2 1968 1969 1970 1971 Institutions 4. 0 4. 3 5.4 6 0. 2 4.2 1 1. 9 2. 1 58. 0 55. 9 2. 0 2, 3 83. 8 81. 5 3.1 2.4 99.2 96.8 3. 3 -3. 9 83.,1 86. 9 3.,1 - 2 ,9 106. 9 109. 8 3.8 0.4 166.4 166.0 2 3 4 5 -- -<.7 0. 4 8 1.1 1. 6 4 3.1 6 7 - Capital consump. allowances 0. 7 0. 8 0.> 9 1..0 1. 2 1.4 1. 5 1..7 1.9 7 * Net investment flow, B a l a n c e Sheet basis 8 2. 0 2 .7 2 .3 3. 3 2 .4 5.1 .6 -1. 9 5.4 8 3. 9 17. 1 13. 2 4,.1 19,.8 15..7 4 .1 20 .5 16..4 5 .0 13. 8 18..8 8 4 26 .6 18. 2 6.6 26.4 19.8 -6..1 15. 6 21..7 2. 2 25 6 23 .4 15.5 42.8 27.4 9 10 11 2. 5 3. 9 1. 5 1,.8 3 .9 2 .1 2 .8 6 .1 3 .3 -4..1 4 .8 i, 6 .8 9 ,5 2 .7 2.0 4.9 4.9 -9 .5 3 6 5 8 -3. 5 .8 2 .7 7.8 8.6 0.8 12 13 14 0. 3 0. 7 0. 7 1. 1 0..3 1, 0,.8 1,.7 0 .5 1 .5 0 .9 1..9 0..7 l. 5 l..0 l..9 0,.7 I..6 1. 2 2 .0 1.2 2.9 1.4 3.1 0. 9 2 6 1. 5 3 3 1..1 2. 5 1..7 3 .1 2.1 4.0 1.9 3.8 15 16 17 18 6 • Corporate 9 10 11 equity issues - R e v a l . of life insur. and p e n s i o n fund r e s e r v e s C h a n g e in value - N e t c l a i m s issued 12 - R e v a l . of m u t u a l fund C h a n g e in value 13 - S h a r e s Issued 14 1lab. 15 • R e v a l . o f r e p r o d u c i b l e assets C h a n g e in value 16 Depreciation charges 17 - G r o s s p u r c h a s e s , FOF basis 18 19 • C h a n g e in the value of land h o l d i n g s 20 • R e v a l . of c o r p . e q u i t i e s held C h a n g e in value 21 -Net p u r c h a s e s 22 23 24 25 1. 0 0. 1 0,.5 9. 7 13. 8 4. 1 9 .2 13 .4 4 .2 0 .1 9 .8 15 . 0 5 .2 0..4 -10..9 -4..6 6..3 0,.2 20..3 28 . 1 7 .8 - R e v a l . of i n v e s t m e n t in bank p e r s o n a l trusts C h a n g e in value -Net Invest. by h o u s e h o l d s 26 • Other revaluations 7 - .2 in net w o r t h 5. 0 6 .7 Memo: 2 8 Net worth outstanding 79..5 86 .2 in b i l l i o n s of d o l l a r s . 7, 2 1..7 1.7 19 67 .4 89 .0 21..7 -4, 3 6..3 10,.6 38.4 65.1 26.7 20 21 22 122 .1 129 .8 7 .7 -2..2 1 .9 4 .1 11.5 24.2 12.7 23 24 25 -• 27 * C h a n g e Data are 0.6 12.8 23.9 11.1 " 0..4 0 .2 -.4 40 .6 5 .8 1.3 26 5 .8 3 .0 3 .6 10.7 8 .9 5 .9 14.2 27 95 .0 103 .6 114.3 123 .2 129 .1 143.3 28 92 . 0 June 8, 1995 Private F i n a n c i a l Institutions Private Financial Factors Accounting for Change in Net Worth Institutions 83 Annual Flows Annual F l o w s 1972 1974 1975 1976 R . 1 3 4 Pr ivate F i n a n c i a l 2 .4 1977 1978 Institutions 27.3 33.4 27 . 1 G r o s s I n v e s t m e n t of p r i v a t e f i n a n c i a l i n s t i t u t i o n s , from flow of funds accounts 1 13.7 13.6 395.5 381 .8 18.7 14.7 399.2 384.5 21 . 1 6. 0 385 .0 378 . 9 Capital expenditures Net f i n a n c i a l investment Net acq, of finan. assets -Net incr. in l i a b i l i t i e s 2 3 4 5 I 4.5 8.5 4 .3 2 3 4 5 4.8 .2 224.6 224.9 5,8 2.7 216.2 213.5 6 .9 - 2 .6 165 .4 167 .9 6 2.6 5.2 1 .6 -1 .2 1 .7 1 .9 3.5 2.4 1. 7 * C o r p o r a t e equity 7 2.2 2.6 3 .4 4 .2 5 .1 5 .9 6.6 7.9 9 .2 - C a p i t a l con sump. a l l o w a n c e s 7 8 4.9 11.1 2 .6 3 .0 6 .4 10 .7 24.2 27.9 19 .6 = Net investment flow, B a l a n c e Sheet Oasis 8 7.0 - 4 .6 169 .5 174 . 1 9 .7 7 .5 2 .3 251 .4 249 . 1 14 . 7 7 .4 7 .3 319 .2 311 .9 issues 6 - R e v a l . of life insur. and pension fund reserves C h a n g e in value -Net c l a i m s Issued 9 10 11 12 13 i4 9 10 11 11.8 59.1 47.3 -25.9 13.6 39.5 -29 .2 12 .5 41 .7 34 .9 102,.6 67,.8 15 .6 71 .2 55 .6 -16 .2 57 .5 73 .6 17.4 104.4 87.1 14.4 109.8 95.3 12 13 14 3.8 3.5 -.3 -12.2 -12.3 -.1 -11 .9 -11 .5 0,.5 7 .9 7,.9 5,.3 3..5 .9 -1 . - 2 .0 -1,.0 1..0 0.7 0.6 -.1 5.2 5.7 0.6 6 .5 , 10.. 3, 5 - R e v a l . of m u t u a l fund C n a n g e in value - S h a r e s issued 15 16 17 16 2.2 4.7 2.2 4.3 3.5 6.8 2.6 5.8 5.. 6 9, 2 3 ,4 6. 9 4. 3 7.,1 4. 2 7.,0 5 ,5 7, 9 5., 1 7. 5 5 .1 6..6 5. 9 7.,4 5.0 12.1 6.6 13.7 6.6 17.5 7.9 18. 7 8. 2 20., 1 9. 2 21. 1 • R e v a l . o f r e p r o d u c i b l e assets 15 C h a n g e in value 16 D e p r e c i a t i o n charges 17 - G r o s s p u r c h a s e s , FOF basis 13 19 2.0 3.0 4. 2 4. 3 3. 1 3. 4 4.9 5.7 10. 4 20 21 22 36.2 61.9 25.7 -72.3 -49.5 22.7 -89. 1 -79. 3 9. 7 75. 8 75. 5 3 44. 8 53. 3 8. 5 -29. 9 -18. 3 11. 0 25.6 38.9 13.3 41.3 53.9 12.6 86. 9 102. 7 15. 7 23 24 25 14.7 23.5 8.8 -25.7 -13.0 12.8 -34. 1 -28. 6 5. 5 26. 8 21 . 1 -5. 6 18. 0 25. 9 7. 9 -10. 2 -2. 9 7. 3 2.9 10.9 8.0 16.3 22.5 6.2 30. 5 29. 6 -1. 0 40,.2 158..3 118,. 1 0 26 5.8 10.4 4. 5 7. 6 6. 5 3. 5 -.4 1.8 2. 4 27 20.9 19.6 3. 2 19 .4 27. 3 21 .3 38.3 47.4 50. 3 23 164.2 183. 7 186. 9 206. 6 233. 7 255. 0 293.3 340.8 391. 1 Data are in b i l l i o n s of d o l l a r s liab. C h a n g e in the value of land h o l d i n g s 19 • R e v a l . of corp . equities held 20 C h a n g e in value 21 -Net p u r c h a s e s 22 - R e v a l . of investment in bank p e r s o n a l trusts C h a n g e in value -Net invest. by h o u s e h o l d s • Other revaluations 23 24 25 26 = Change in net worth 27 Memo: Net worth outstanding 28 June 6, 1995 Private Financial Institutions Private Financial Factors Accounting for C h a n g e Annual Flows Annual Flows 1981 1982 1983 1984 1985 R. 134 Private F i n a n c i a l G r o s s investment of private financial I n s t i t u t i o n s , from flow of funds accounts 14, 2 19..6 20. 2 25 .2 29,.2 2 3 4 5 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets - N e t incr. in l i a b i l i t i e s 25 3 -11,.1 488,.4 499,.5 26 .8 -7. 2 514, 8 522..0 29,.6 -9. 4 534. 6 544..0 37,.7 - 1 2 .5 739,.3 751..9 42,.2 -13,.0 914..5 927,.5 6 + C o r p o r a t e equity issues 7 - Capital consump. allowances * Net Investment flow, B a l a n c e Sheet basis 8 - R e v a l . of life lnsur. and p e n s i o n fund r e s e r v e s 9 C h a n g e in value 10 - N e t c l a i m s issued 11 12 - R e v a l . of m u t u a l fund C h a n g e in value 13 - S h a r e s Issued 14 1lab. 15 • R e v a l . o f r e p r o d u c i b l e assets C h a n g e in value 16 Depreciation charges 17 - G r o s s p u r c h a s e s , FOF basis 18 • C h a n g e In the value of land h o l d i n g s 46 .4 5 2 .1 -5..7 733,. 6 739. 3 34 .5 75..0 1 56 .5 - 2 2 .0 653,.0 675,.0 63 .5 11,.5 925,.9 914,.4 2 3 4 5 5..5 15..8 18,.0 20..4 25 .8 9 .0 6 16..4 18..4 21 .3 24..7 28,.3 32..8 7 5..8 10. 9 8, 8 14. 3 26..6 38..5 42. 2 32..0 51..1 8 -27,.8 88..8 116..7 51. 2 217. 3 166.,1 70. 3 232. 3 161, 9 13..0 157. 2 144. 3 90. 7 354..1 263. 4 89..8 375..3 285. 5 3, 8 212.,0 208. 2 112. 3 249..8 137..6 218..9 547. 7 328..8 9 10 11 -6..4 -2..0 4. 4 7. 6 17..0 9. 4 6. 0 35. 3 29, 3 - 2 .7 24,.6 27 3 14. 9 103. 6 88..7 12. 3 173. 2 160..9 -23, 6 46, 7 70. 2 12..0 18..1 6,.1 50..7 87..9 37. 2 12 13 14 8..4 2 2 .5 11, 2 25 .3 5..4 19.,1 13. 0 26. a 2. 7 17. 9 14..4 29, 6 2 .1 23. 5 16..4 37..7 2..8 26. 6 18..4 42. 2 11,.5 39,.7 28 .3 56..5 11..8 42..5 32 .8 63..5 15 16 17 18 7..8 1 - 8 .8 Memo; 28 Net worth o u t s t a n d i n g 402,.4 .6 .8 .8 .6 3..0 11..3 in b i l l i o n s of d o l l a r s . 48 -6 1090 1097 14,.4 in net w o r t h are 41 .9 4. 3 -12..7 3. 3 16,.0 Data 1989 13..0 - R e v a l . of Investment In bank p e r s o n a l trusts 23 C h a n g e in value 24 -Net Invest. by h o u s e h o l d s 25 revaluations 1988 2,.8 -48..8 -21 . 1 , • 27 = C h a n g e 1987 11..2 20 • R e v a l . of c o r p . e q u l t i e s held C h a n g e In value 21 -Net o u r c h a s e s 22 26 • Other 1986 Institutions 1 19 Institutions in Net W o r t h 7..8 35 . 1 21, 3 48..6 5. 8 33, 3 24,.7 52.. 1 8,.1 8. 5 3..8 10. 3 12. 2 18..3 10,.0 16. 3 19 83. 9 116, 9 33 .0 123. 3 168. 8 45. 5 9.,7 11. 6 1 .9 182..7 233. 9 51. 3 157.-0 214, 3 57. 3 -6. 6 39,,7 46. 3 179,.2 166,.7 -12..5 365. 3 370, 2 4. 9 20 21 22 42.,0 52. 2 10. 2 28..0 46..1 18..1 -3. 3 9. 8 13. 2 27..3 29,.5 2.,2 51. 8 71. 4 19. 6 23 24 25 17. 9 16.. 0 -1.,9 -20..6 11., 1 413. 5 25 9 29. 0 3. 2 -2.. 1 13..0 15..1 8.,4 52. 6 13. 6 4..8 -3. 5 9,.7 -4. 9 26 49. 6 74,,4 88..4 90. 2 79. 3 90..8 118. 2 27 463..0 537..4 625. 8 715. 9 795. 2 1004. 2 28 886,. 0 June 6, 1995 Private F i n a n c i a l Institutions Private Financial Factors Accounting for C h a n g e 8 5 Annual Flows Annual Flows 1990 1991 1992 1993 1994 R. 134 P r i v a t e F i n a n c i a l 62.2 5 58.5 -21.7 733.0 754.7 -9.8 463.6 473 .3 63.2 -53.0 745.7 798.7 67.4 -2.0 1158.9 1160.9 10 . 0 15.1 26.4 38.2 28 .6 7 36 .6 39.3 41 .2 43.3 48 . 0 25 .9 12.5 -4.7 60.3 -81 .8 , 86..9 168..8 293.8 654.3 360.4 128.5 378.4 249.9 149.0 466.3 317.3 -61 .3 27 .5 8 8 .8 12 13 14 -29. 4 35. 9 65. 3 60.3 211.8 151.5 16.3 228.2 211.9 84.2 404. 2 320.0 -20,.8 117,.6 138..3 9. 9 35. 5 36. 6 62. 2 • 19.2 39.3 58.5 4. 1 26.0 41 . 2 63.2 9.7 33.8 43.3 67.4 -7.0 -3.2 -9.8 -16. 7 204.3 311.2 106.9 306.3 559. 0 252.7 -54. 5 106. 1 160. 6 19 -15. 0 20 21 22 -139. 1 -118. 1 21 . 3 479.3 6 0 0 .3 121 . 3 23 24 25 -22 6 7. 1 29. 7 70. 1 86.2 16.1 28.4 21 . 2 -7.1 29.8 31.4 1 . 6 G r o s s investment of p r i v a t e f i n a n c i a l i n s t i t u t i o n s , from flow of funds a c c o u n t s 1 Capital expenditures N e t f i n a n c i a l investment N e t acq. of firan. assets -Net incr. in l i a o i l i t i e s 2 3 4 5 Corporate 6 - - 2 34. 9 48.. 0 83.. 1 -9. 7 9. 1 18. 8 Capital equity issues consump. allowances Net investment B a l a n c e Sheet 9 .0 9 10 11 15 16 17 18 Institutions 83.1 -54.6 715.7 770 .3 6 8 Institutions in Net W o r t h flow, basis 7 8 R e v a l . of life insur. and p e n s i o n fund r e s e r v e s C h a n g e in value -Net c l a i m s issued 9 10 11 R e v a l . of m u t u a l fund C h a n g e in value - S h a r e s issued 12 13 14 liab. C h a n g e in value 16 D e p r e c i a t i o n :ha»ges 17 - G r o s s p u r c h a s e s , FCF basis 18 * C h a n g e in the value of land h o l d i n g s 19 R e v a l . of c o r p . e q u i t i e s held 20 C h a n g e in value 21 -Net p u r c h a s e s 22 - bank serso.-al trusts C h a n g e in value -Net invest. by h o u s e h o l d s 23 24 25 26 10.1 4.5 50.4 22.5 -46.7 • Other 27 25.6 65.0 77.8 126. 0 -17.3 = Change in net worth 27 28 1029.3 Memo: Net worth outstanding 28 Data are in b i l l i o n s & 1 094 1 172.6 of d o l l a r s . revaluations 26
@FedFRASER