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. low of Funds March 9, J 994 Balance Sheets for the U.S. Economy 1945-93 Board of Governors of the Federal Reserve System, Washington, D.C. 2055J BALANCE SHEETS FOR THE U.S. ECONOMY 1945 through 1993 This release provides estimates for tangible and financial assets, liabilities, and net worth for the private sectors of the economy (households, business, and private financial institutions). The tables show annual data for the years 1945 through 1993. This issue of the release incorporates revisions in'financial assets and liabilities made in the flow of funds accounts for 1992. Further information about the revisions can be found in the introduction to the fourth-quarter flow of funds publication (Z.l release) dated March 8, 1994. In addition to the changes made to the flow of funds accounts, these tables incorporate data for 1993 that have been made available by the Bureau of Economic Analysis (BEA) for the various series for reproducible tangible assets. (Data for tangible assets outstanding are not shown in the quarterly flow of funds accounts releases.) 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. 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 estimates, and they are consistent with each other in definition. Following the balance sheets (tables B.ll through B.134) is a set of reconciliation tables (R.ll through R.134) that relate changes in the net worth totals to the gross investment flows that are published in the quarterly flow of funds accounts. Changes in net worth result from gross investment, net of depreciation, and inflows from equity issues, along with revaluations in tangible and financial assets due to price changes and statistical discontinuities, and changes in land values. Revaluations and land purchases do not appear in the quarterly flow of funds saving and investment statements. Margins of uncertainty and discrepancies. The estimates in the balance sheets are subject to uncertainties resulting from incompatibilities among source data, potential revisions in both 1. U.S. Department of Commerce, Bureau of Economic Analysis, Fixed Reproducible Tangible Wealth in the United States. 1925-89 (Washington: U.S. Government Printing Office, January 1993). See also John C. Musgrave, "Fixed Reproducible Tangible Wealth in the United States, 1989-92," Survey of Current Business, vol. 73 (September 1993), pp. 61-69. financial and nonfinancial series, and incomplete data. In particular, original source data are often not available for the most recent time periods, and preliminary estimates must be made that are revised when additional data are received. Caution must thus be used when drawing conclusions from data for these time periods. Estimates of financial assets and liabilities are linked to data on flows. However, figures on outstandings contain breaks in series that could affect analysis of particular relationships over time. Specifically, outstandings in the balance sheets are related to the flows published in other flow of funds releases in the following way: Outstanding^ = O u t s t a n d i n g ^ + Flow^ + Discrepancy^ where t denotes the time period. Level-flow discrepancies or series breaks result from changes in valuation, breaks in source data, and changes in definitions. For most series, the discrepancy is zero for nearly all time periods. However, in a few instances, the discrepancy is nonzero for all time periods, or can be quite large in a particular time period, such as a period when there is a sharp increase or decrease in equity prices or a major break in source data. Availability of Flows and Outstandings. 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 major credit market demands, 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.l release, "Flow of Funds Accounts, Flows and Outstandings," covers the full range of the accounts. In addition, this publication, the C.9 release, "Balance Sheets for the U.S. Economy," appears twice a year, in March and September. Both the Z.l and C.9 releases 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.l tables in the meantime, preliminary copies of the release 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 computer diskettes. The diskettes contain quarterly data beginning in 1952 organized in files that correspond to the tables published in the Z.l release. One diskette contains the seasonally adjusted flows, a second diskette contains unadjusted flows, and the third diskette contains the outstandings. In addition, the outstandings diskette contains files with the monthly debt aggregate published in the Board's H.6 release, "Money Stock, Liquid Assets, and Debt Measures," and data from this release. Subscription information. The Federal Reserve Board charges for subscriptions to all statistical releases. The annual price of the Z.7 Summary Statistics release is $5.00; the price of the Z.l is $25.00. This release, the C.9, is $5.00 per year. Inquiries for these 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) 452-3245 * * * * Payment for publications may now be made by credit card. ** ****************************************************************** A Guide to the Flow of Funds Accounts is available. The Guide explains the principles underlying the accounts and describe how they are constructed. It may be ordered from Publications Services for $8.50. TABLE OF CONTENTS Table Page Domestic wealth B. 11 2-7 U.S. net foreign assets 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 nonfinaneial 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 nonf inaneial corporate business R..104 74-79 Private financial institutions R., 134 80-85 Title BALANCE SHEET TABLES STOCK-FLOW RECONCILIATION TABLES M a r c h 9, Domestic 1994 Wealth Domestic B.ll 2 Year-End Domestic Wealth with Tangible Assets at Current . 4# Year-End Outstandings 1945 1 Domestic wealth (1) 2 3 4 5 6 7 a 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 9 + U.S. monetary gold 1 0 D o m e s t i c net w o r t h , by s e c t o r ( 4 ) ( 5 ) 11 P r i v a t e sector net c o n s o l i d a t e d (6) 8 SDRs 1947 1948 519. 3 6 1 6 ..6 7 3 4 ..3 8 0 2 ..2 8 3 5 ..4 499. 2 3 4 9 .0 136. 0 115. 4 51. 4 46. 2 150. 3 5 9 5 ..9 4 2 6 .3 160..3 141 ..8 71 ,. 0 53, 2 169..6 7 1 1 ..4 5 2 2 .8 1 9 0 .,5 172. 5 9 4 ,.7 65.. 1 1 8 8 ..6 7 7 7 .8 5 7 9 .. 1 2 1 0 .. 7 1 9 3 ..6 98..6 76..3 198.. 7 8 1 0 ..3 604. 2 2 2 3 ,.3 2 0 5 ..2 8 9 ..2 8 6 ,.6 2 0 6 ,.6 20. 1 20.. 7 24.. 4 24, 6 2 2 .8 22, 9 2 3 ,.3 2 2 .1 8 3 5 ,.4 9 5 0 ..2 1 0 5 1 .6 1 1 0 5 ..6 1 1 5 2 ..8 1155- 5 1 2 5 6 ..3 1 3 2 3 .. 9 1 3 8 0 ..9 11 5 9 2 .. 9 1 0 1 5 .,4 276. 3 1 2 8 ..7 17..5 6 4 4 .. 2 1 1 1 2 .. 9 2 9 7 ..3 151 , . 1 20..4 6 9 0 ..7 . 6 1167 , 2 9 9 ..6 1 5 2 ,.4 • 2 5 ,. 0 7 2 7 ..7 1 2 0 4 ..5 3 0 1 ..2 146..1 29,.5 12 13 14 15 16 5 2 5 ., 1 1 4 6 ..9 132. 2 2 4 6 .. 0 571. 2 1 5 6 ,. 1 1 4 4 .. 4 2 7 0 .,7 587. 3 160. 5 1 4 2 .. 4 2 8 4 ..5 519. 3 6 1 6 ..6 9 7 3 4 ..3 8 0 2 ..2 1 0 1 0 ..2 1950 1951 1952 1953 950 . .2 1 0 5 1 ..6 1 1 0 5 ..6 1 1 5 2 .8 1 9 2 7 ,.4 6 9 6 .2 249. 3 2 2 8 ..4 1 1 0 ..3 108. 2 2 3 1 .2 1 0 2 8 .,7 7 7 4 .. 1 2 7 3 .. 1 253. 5 1 2 3 .. 1 1 2 4 .. 4 2 5 4 ..7 1 0 8 2 ..3 811 . .7 2 8 8 ..2 2 6 8 ..8 1 2 0 .,7 1 3 4 ,. 0 2 7 0 ..6 1 1 3 0 ..7 8 4 8 .3 3 0 0 ..7 2 8 2 ..7 122.. 0 143..0 2 8 2 .3 2 3 4 5 6 7 8 743. 0 8 3 7 ..5 9 4 9 ..6 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 . b u s . - C o r p . equities held (7)(8) - P e n s i o n fund r e s e r v e s 407 .1 6 9 9 .4 173. 4 109. 5 9. 4 4 4 3 ., 9 7 5 5 ..5 200 , 1 101 . 3 1 0 .2 . 4 8 5 .. 0 8 3 1 ..6 2 3 6 .. 1 98.8 ,7 11 . 516 . 9 872. 9 2 4 5 .. 1 97 ..5 13..3 5 4 5 .. 0 9 0 9 ..6 2 4 4 ..6 1 0 5 ., 0 15.. 1 17 18 19 20 N o n f i n a n . b u s i n e s s net worth Nonfarm noncorp. business Farm business N o n f i n a n e ial c o r p s . 310. 95. 79. 135. 2 4 1 7 3 6 5 ..6 108.. 6 93. 3 163.. 7 434. 124. 114. 195. 4 6 0 ..6 1 3 3 ..2 1 1 4 .,5 2 1 2 ..8 4 6 7 ..7 136. 5 1 1 0 ..4 2 2 0 ..8 21 22 23 24 Pvt. f i n a n . Inst. net a s s e t s S e c t o r net w o r t h • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held (7)(8) 25. 7 21 . 9 9. 4 5. 5 27.,9 23..4 1 0 ., 2 5.. 7 30 . 3 25.. 0 11 . 7 6. 3 3 2 .7 26 ,. 1 13.. 3 6 . .7 33. 7 2 8 .. 0 15.. 1 9.. 4 37. 5 31 .. 0 17. 5 11 .. 0 40. 9 32. 5 2 0 ..4 12.. 0 45. 9 34. a 2 5 .. 0 13. 9 -223. 7 8 -223. 3 0. 4 .8 -221 . . 6 .6 -221 , 0. -207. 5 5 - 2 0 7 .. 4 0..4 -199 . 0 . 7 - 1 9 8 ..8 0 .4 -202. a . 9 - 2 0 2 ..4 0..4 -198. 5 - 3 ..9 - 1 9 5 .. 1 0. 5 0.. 1 - 1 9 4 .. 1 - 5 .. 0 - 1 8 9 ..7 0. 5 0,. 1 - 2 1 3 ..1 -10. 5 -203. 2 0. 5 0.. 1 30 31 32 33 Public 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.-spans, enterprises Monetary authority 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 (9) 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 by foreigners, excluding e q u i t ies Unallocated finan.assets (10) " are in billions 1 0 of dollars. " 3 5 5 3 1 0 4 6 .. 4 * * * 601 ,7 1 6 3 ..6 1 4 1 .. 0 297, 2 17 18 19 20 51 . 5 37. 2 29, 5 15.2 21 22 23 24 -225. 5 - 1 4 .. 0 - 2 1 2 .. 1 0..5 0.. 1 25 26 27 28 29 18.,3 34. 3 19, 5 36.. 7 30 31 1 .3 14. 9 4,.8 .3 17 . 12.. 7 2 3 ., 9 14,, 9 26 .8 16.. 0 28.. 1 17.. 0 31 ..4 16 ..8 31 ., 9 13. 6 12.. 4 1 1 .2 12.. 0 12..2 14..5 15. 2 16.. 1 17..2 32 7..8 10. 2 6..2 13.. 0 17,. 0 33 1 .4 (1) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of c 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 land h o l d i n g s of F e d e r a l R e s e r v e B a n c s a n d g o v e r n m e n t sponsored enterprises; excludes investments 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 cost. (4) 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 net 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) . (5) E q u a l s net 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 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 , 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 - 3 0 + 33). ( 6 ) L i n e s 1 2 • 17 • 2 1 . ( 7 ) I n c l u d e 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 . (8) E x c l u d e s m u t u a l fund s h a r e s . ( 9 ) 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 . (10) 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 a n d 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 9 wortn, 12 13 14 15 16 25 26 27 28 29 Outstandings 1946 22. 1949 Wealth I Cost 5..8 4..9 5..8 March 9, 1994 Domestic Wealth Domestic B.11 Year-End Domestic Wealth with Tangible Assets at C u r r e n t Cost 3 Year-End Outstandings 1954 1955 1956 1957 1958 1959 1960 1961 1962 1194. 6 1283. 4 1390 .1 1 4 6 1 .2 1512. 9 1576 . 0 16 25. 8 1682. 7 1750.4 1172. 8 6 3 1 7 .9 295. 0 118. 6 147. 1 294. 2 1261. 7 946. 7 342. 5 322. 0 124. 9 157. 3 314. 9 1368. 1 1025. 7 3 6 1 .8 358. 1 133. 9 171 . 9 342. 4 1438. 4 1 072. 1 375. 6 383. 0 137. 3 176. 2 3 6 6 .3 1492. 3 1103. 6 389. 0 395. 2 137. 5 182. 0 388. 7 1556. 5 1150. 7 408. 8 411 .7 141 . 2 189. 0 405. 8 1608- 0 1188. 4 426. 0 423. 5 145. 2 193. 7 4 1 9 .6 1665. 7 1222. 1 442. 4 435. 7 147 . 1 196 .8 443. 7 1734.3 1269.6 460.4 453. 4 153.4 202.3 464.7 21 .8 21 .8 22. 1 22. 9 20 .6 19 .5 17 .8 16. 9 16.1 1194. 6 1283. 4 1390 .1 1 4 6 1 .2 1512. 9 1576. 0 1625. 8 1682. 7 1750.4 D o m e s t i c net w o r t h , by s e c t o r ( 4 ) ( 5 ) P r i v a t e s e c t o r net c o n s o l i d a t e d (6) Domestic wealth 1629. 3 1707. 4 1778. 2 1847. 2 1902. 2 1972. 1 2050.6 . 3 ,8 34..4 807. 6 1421 .,7 312.. 0 2 6 0 .. 4 .8 41 , 8 6 1 .0 1515. 0 327. 4 279..4 47 . .2 9 0 0 .6 1 5 3 7 .. 0 337. 7 245. 6 53.. 1 944. 2 1 702.5 351 ., 1 344..8 6 2 .5 988. 3 1784., 0 354,.5 369 , .6 .6 71 , 1028. 5 1828.,9 356.. 4 364..5 79..5 1 073. 6 1995. 3 365,, 0 464,. 9 91 ..8 1117.3 19 9 0.6 374 . 1 402.1 97 . 4 613 . 7 165.. 0 141 . 9 3 0 6 .8 650.-3 171 . 7 144 . 2 334 . 4 755,.4 1 8 8 .8 167 . 9 398 . 7 + U.S. Outstandings CI) I 1 1 1 1 : 1 1 1 1 1 1 ! 11F' 1 5 1 9 .5 Wealth monetary 1 gold 8 SDRs I 9 10 worth, 11 I ill # I! 'II 'I 1 1 I I I I - ' . ' I || I! I! ® I) m II ii II li ii I m ;tlipr I 1431 .3 , 7 61 46 41 26 . 9 . 7 . 4 .2 56 42 34 20 >h | -234 . 7 -1 7 . 9 - 2 1 7 .5 0. 6 0. 1 .6 .8 .8 .9 |:| - 2 3 5 .5 -21 . 1 -215 . 1 0. 6 0. 1 7 00,.3 180,. 3 151 .5 368 . 4 731 186 158 388 .7 , .8 . 0 . 9 . 0 .9 .2 . 1 75 51 53 29 .2 . 1 . 1 . 1 68 49 47 29 8:5 - 2 3 2 .8 -24 . 1 - 2 0 9 .4 0 .6 0. 1 B:j - 2 3 4 .6 -28 . 7 -206 . 7 0. 7 0. 1 78 56 62 40 .6 .5 .5 .3 8:| - 2 4 9 .9 -34 . 2 - 2 1 6 .5 0 .7 0. 1 774 190 169 413 .4 .8 .8 .8 780 192 171 417 .4 . 0 . 0 .4 .6 . 0 . 6 . 0 93 3 65 . 0 79 .5 51 .2 -257 . 1 - 3 8 .6 -219 . 4 0 .8 0. 1 -258 . 3 - 4 1 .9 -217 . 0 0 .8 0. 1 84 60 71 47 8:1 El 8 0 0,. 7 196.. 1 17 6 . 0 4 2 8 .5 97 72 91 66 .8 . 0 .8 . 1 Ei - 2 6 7 .8 -45 . 7 -223 . 1 0.8 0. 1 823.9 201 .5 180.3 442. 1 109.6 74.5 97 . 4 62.3 sis I -275.6 -227.8 0 . 9 0 . 1 Less: Net ?! 31 \ l ' l 38 . 4 21 . 3 I I I 40 .6 24 . 7 I46t '.I 4 28 . 7 IVA.4 51 31 .2 H'.t 5 5 .3 31 .4 58 8 :.9 9 5 34 . 3 ti'.S 6 3 .5 37 .9 .66 69 : 40 . 4 74:l 74. 1 32 18 .7 19 . 3 21 .6 2 2 .6 24 . 1 27 .6 29 . 6 31 . 7 33.7 33 17 .8 20 .8 18 . 3 17 .2 15 .7 17 .2 15 .5 16 .3 15.8 U.S. financial claims on f F g n ! ! s s e t s X o i U . S . r e s i d e n t s 31 - T o t a l U . S . a s s e t s held by foreigners, excluding equities 32 Unallocated finan.assets (10) (1) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . (2) E x c l u d e s t a n g i b l e a s s e t s of 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 land h o l d i n g s 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 i n t a n g i b l e a s s e t s s u c n as p a t e n t s . (3) At c u r r e n t c o s t . (4) 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 net w o r t h p l u s U . S . net c l a i m s on f o r e i g n e r s ( l i n e s 10 • 30) . (5) E q u a l s net 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 - 3 0 + 33). (6) L i n e s 12 • 17 • 2 1 . (7) I n c l u d e 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 . (8) E x c l u d e s m u t u a l fund s h a r e s . (9) 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 . (10) 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 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 f r o m 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 billions of dollars. 33 March 9, 1994 Domestic Wealth Domestic Wealth B. 11 Domestic Wealth with Tangible Assets at Current Cost Year-End Outstandings Year-End O u t s t a n d i n g s 1626. 6 1921. 2 2042. 4 2211 .5 2363. 6 2609. 1 2852. 9 3056. 6 3332.3 1 1611. 0 1316. 5 474. 1 472. 9 156. 7 212. 6 492. 5 1905. 8 1394. 0 505. 6 500. 4 164. 2 223. 7 511. 8 2028.3 1489. 2 532. 5 542. 3 176. 4 236. 1 539. 1 2196. 3 1629. 1 576. 9 598. 7 195. 1 256. 5 569. 2 2351. 5 1747. 3 606. 7 649. 4 206. 0 283. 2 604. 2 2596. 2 1938. 7 683. 9 719. 3 221. 3 314. 2 659. 5 2841. 0 2134. 5 752. 0 796. 3 242. 5 343. 7 706. 5 3044. 7 2295. 5 795. 0 676. 6 249. 3 372. 4 749. 2 3320. 9 2515. 7 866. 6 967. 7 267. 4 393. 7 605. 2 2 3 4 5 6 7 8 15. 6 15. 5 14. 1 13. 2 12. 1 10. 9 11. 9 11. 9 11. 4 9 Domestic net w o r t h , by sector (4)(5) 1626. 6 1921 .2 2042. 4 2211 .5 2363. 6 2609, 1 2852. 9 3056. 6 3332. 3 10 Private sector net w o r t h , consolidated (6) 2131 .4 2239.. 0 2373. 3 2555 .4 2734. 5 2993. 9 3240. 6 3469. 5 3767.. 1 11 1169. 3 2135 .6 383 6 472. 5 110. .6 1231 . 2297..3 396 . 1 543 .8 125.. 9 1299., 4 2474..2 417..8 615. 4 141 .6 1397 6 253 7. 6 441. 3 547. 8 153. 8 1510. 8 2825. 2 460. 6 681. 2 172..6 1667., 0 3172.. 0 496. 5 814. 3 194., 1 1873. 8 3216. 7 524..1 614.. 0 204..6 1994..5 3364.. 0 546..2 598 .2 225..1 2170. 4 3706..9 592..8 682.. 0 261. 7 12 13 14 15 16 884..6 213 .4 191 .6 479 .5 944..5 222.4 205..4 516..8 1011. 5 239. 2 212..5 559..8 1075..0 249..4 222..4 603. 2 1169. 7 274. 2 234. 4 661 .. 1 1266. 2 293 . 7 243. 3 731, 2 1357..0 311..2 248. 3 797,.5 1491 .5 340. 3 267..0 884. 2 17 18 19 20 .8 .2 .9 .3 129,.4 92 .0 141 . .6 104 .2 146. 3 95..0 150..8 99 5 148..7 103..6 172 .6 127 .5 157. 114,.2 194 . 1 151 , . 2 105. 3 141. 4 261 .7 297,.8 21 22 23 24 -291 .4 -57 . 0 -235 .7 .1 0. 1 -298 .6 -63 . 9 -239 . 0 1 .2 0. 1 -311 .4 - 66 . 0 -247 . 0 1 .4 0 .2 59 . 9 106 . 0 63 .6 115 .9 5 2 .3 4 .2 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 assets (3) Residential structures N o n r e s . plant 8 equip. Inventories Consumer d u r a b l e s Land at market value 9 • U.S. m o n e t a r y 10 11 gold 8 S D R s 12 13 14 15 16 Household net assets Sector net worth -Equity in n o n c o r p . bus. -Cora. e q u i t i e s held ( 7 ) f 8 ) -Pension fund r e s e r v e s 17 16 19 20 N o n f i n a n . b u s i n e s s net worth Nonfarm n o n c o r p . business Farm b u s i n e s s Nonf inanelal c o r p s . 848 3 206.. 0 186 . 0 456 .3 21 22 23 24 Pvt. f lnan. Inst. net assets Sector ret worth •Pension fund r e s e r v e s - C o r p . e q u i t i e s held C 7)(8) 113 79 110 76 25 Public sector net assets 26 State and local g o v e r n m e n t s 27 U.S. government 26 G o v t . - s p o n s . enter or ises 29 Monetary authority .6 .5 .4 . 1 -280 . 3 -51 .5 -229 .9 0. 9 0. 1 122 86 125 89 -287 . 2 -54 5 -233 .8 1. 0 0. 1 98,.6 121 .7 204 .8 227 .9 118.. 1 127. 3 225 . 1 234 .4 -325 3 - 7 8 .2 - 2 4 9 .2 1 .9 0 .2 - 3 4 5 .6 -87 .3 -260 .7 2 .3 0 .2 -375,.6 -96 .2 - 2 8 2 .3 2 .6 0 .2 25 26 27 28 29 67 .2 134 .5 68 .7 140 .5 54 .9 151 -5 30 31 58 .3 67 .3 71 .8 96 .6 32 7 .2 4 .7 1 .3 - 4 .3 33 - 3 2 4 .2 -73 .5 - 2 5 5 .5 1 .7 0 .2 Less : Net U.S. financial claims on 30 for e i iners (9) 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. assets held ay foreigners, excluding 32 equities 33 Unallocated f lnan . assets (10) 43 .3 80 . 4 50 .2 91 .5 56 . 1 96 .8 37 .2 41 .3 42 .7 46 . 1 18 .8 19 . 7 16 .6 14 .6 CI) 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) Excludes tangible assets of federal, state, and local g o v e r n m e n t s ; excludes land holdings of Federal R e s e r v e Banks and g o v e r m r e n t sponeor ed e n t e r p r i s e s ; excludes investments in intangible assets sush as p a t e n t s . (3) At current cost. (4) National 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) . (5) Equals net c o n s o l i d a t e d tangible and financial assets of public and private sectors, less net U.S. financial claims 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 - 30 » 33). (6) Lines 12 • 17 • 21. (7) Includes h o l d i n g s of foreign e q u i t i e s . (6) E x c l u d e s mutual fund s h a r e s . (9) 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 . (10) 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 tne 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 reporting d i f f e r e n c e s . Data are In b i l l i o n s of dollars. 67 . 7 126 . 0 M a r c h 9, 1 9 9 4 Domestic Wealth Domestic B.ll Year-End Domestic Wealth with Tangible Assets at C u r r e n t Outstandings 1972 Wealth Cost Year-End Outstandings 1973 3748.8 4 3 1 8 .7 4 9 9 7 .6 5 5 3 6 .5 6 1 6 2 .4 6 9 6 2 .2 8 0 5 1 .2 9 3 5 2 .4 10632.2 3736.4 2831.8 1034.0 1076.4 296.6 424. 7 904.6 4304 3243 1185 1223 365 470 1061 4983 3773 1334 1459 435 544 1209 5522 4137 1463 1638 440 595 1385 6 1 4 8 .4 4 5 4 3 .4 1 6 3 0 .9 1 7 8 4 .5 4 7 5 .3 652.8 1605 . 0 6 9 4 7 .9 5 1 1 9 .7 1891 .2 1981 .4 521 .6 7 2 5 .5 1828 . 1 8038 5882 2211 2250 605 815 2155 9338 6759 2547 2585 702 924 2578 10618 7612 2840 2974 784 1014 3005 .9 .9 .2 . 1 . 1 .5 . 0 .6 .7 .8 .5 .2 .2 . 9 .6 .2 .4 . 0 .0 .7 .4 12.4 13 .8 3748.8 4 3 1 8 .7 4 9 9 7 .6 5 5 3 6 .5 4218.0 4800 . 1 5 5 2 8 .7 12 13 14 15 16 2413.6 4153.7 666.2 759.9 314.1 2645 . 1 4 3 3 3 ,.8 799 .9 568..3 320..5 17 18 19 20 1686.4 379.4 303.4 1003.6 21 22 23 24 25 26 27 20 29 14 . 0 13 .9 14 . 0 . 0 .4 .2 .8 .3 .2 .5 .5 .7 . 1 .6 .6 . 4 .9 . 4 .8 . 0 .2 .2 .3 .6 Domestic wealth (1) 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 14 .3 13 .2 13 .9 13 .8 6 1 6 2 .4 6 9 6 2 .2 8 0 5 1 ,.2 9352.4 1 0 6 3 2 .2 D o m e s t i c net w o r t h , by s e c t o r ( 4 ) ( 5 ) 6 1 8 0 .3 6 8 7 1 .9 7 7 2 6 .3 8 8 7 2 .9 1 0 2 6 1 .7 1 1 6 4 1 .6 P r i v a t e sector net c o n s o l i d a t e d (6) 2 9 3 0 ,.4 4 4 9 3 ,.6 877..6 359..6 3 2 6 ., 0 3 2 5 9 .. 0 5 1 1 9 ,.4 958.6 481 , . 2 420..7 3632 . 1 5 8 7 1 .7 1071 , .4 684..9 483..3 4 0 5 8 .3 6369..6 1195,.1 584.8 531 .. 4 4 6 1 3 ,.8 7232,.6 1398,.6 595. 2 625.. 0 5234 . 4 8 3 6 5 ,.6 1632,. 0 724.9 724..3 5 9 3 8 .6 9650.. 6 1863 . 6 975,.4 8 7 2 .9 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 ? . b u s . - C o r p . e q u i t i e s held (7)(d) - P e n s i o n fund r e s e r v e s 12 13 14 15 16 1 9 6 3 ,.7 4 3 8 ..2 3 8 1 ..7 1143. 8 2322. 2 4 8 0 .,4 4 1 9 .8 1 4 2 2 .. 1 2 6 0 4 .. 0 516. 3 4 6 8 ., 7 1619 ., 0 2 8 8 4 ,.8 5 6 4 ,.4 5 4 0 ,,0 1 7 8 0 ., 4 3 2 2 5 .. 4 640. 6 592. 5 1992. 2 3723.1 744., 1 701 . 0 2 2 7 8 ., 0 4 3 4 6 ..4 8 8 1 .3 8 0 5 ., 3 2659. 8 4972 . 1 1034.. 9 888.. 9 3 0 4 8 ..3 N o n f i n a n . b u s i n e s s net w o r t h Nonfarm noncorp. business Farm business N o n f i n a n e ial c o r p s . 17 18 19 20 117.9 162.1 314.1 358.2 191 .4 181 .5 3 2 0 .5 310. 7 2 7 6 .. 1 184. 5 326. 0 234. 4 317. 4 203. 8 420. 7 307. 1 355. 0 231 . 1 483. 3 359. 3 442. 6 252. 4 531 . 4 341 . 1 536. 0 290. 2 625. 0 379. 2 631 . 0 337. 3 724. 3 430. 7 -390.8 -95.1 -298.9 2.9 0.3 - 3 9 1 .4 -90. 6 -305. 2 4. 1 0. 3 -483. 4 -99. 0 -392. 9 8. 0 0. 5 -543. 6 -100. 8 -452. 9 9. 6 0. 5 -585. 2 -88. 1 -507. 7 10. 0 0. 6 -616. 7 -83. 0 -545. 3 10. 9 0. 7 - 6 3 1 .1 -77. 3 - 5 6 6 .5 11 .9 0. 7 -403. 5 -93. 9 -316. 2 6. 2 0. 4 730. 386. 872. 528. 9 Q 9 9 - 6 9 1 .7 -79. 2 -626. 7 13. 4 0. 8 + U.S. monetary gold S SDKs worth, 11 P v t . f i n a n . i n s t . net a s s e t s 21 Sector net worth 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 ( 7 ) ( 8 ) 2 4 P u b l i c s e c t o r net a s s e t s S t a t e and l o c a l g o v e r n m e n t s U.S. government Govt.-spons. enterprises Monetary autnority 25 26 27 28 29 Less: 32 112.8 125. 3 150. 6 153. 1 194. 2 243. 0 308. 7 345. 8 394. 3 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 (9) 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 b y foreigners, excluding equities 33 -28.0 -35. 1 -71. 7 -79. 0 -.5 -7. 8 -11. 0 -38. 5 -39. 2 Unallocated 30 31 50.3 163. 1 54. 9 180. 2 56. 0 206. 6 81 . 234. 5 165. 4 359. 6 171 . 0 414. 1 194. 0 502. 6 239. 7 585. 6 278. 6 672. 8 finan.assets (10) (1) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . (2) E x c l u d e s t a n g i b l e a s s e t s of 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 l a n d h o l d i n g s 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 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) N a t i o n a l n e t w o r t h e q u a l s d o m e s t i c net 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) . (5) 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 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 , 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 - 3 0 + 33). (6) L i n e s 12 + 17 + 2 1 . (7) I n c l u d e 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 . (8) E x c l u d e s m u t u a l f u n d s h a r e s . (9) 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 . (10) 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 f r o m 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 M a r c h 9, Domestic 1994 Wealth Domestic B.ll r Domestic Wealth with Tangible Assets at Current D Year-End Outstandings 1 Domestic wealth Year-End (1) 2 3 4 5 6 7 8 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 9 + U.S. monetary gold 10 D o m e s t i c net w o r t h , by s e c t o r ( 4 ) ( 5 ) 11 P r i v a t e sector net c o n s o l i d a t e d (6) & SDRs Wealth Cost Outstandings 11634. 9 12195. 8 12772. 2 1 3 5 8 5 ., 0 14358. 9 15155. 6 16152. 8 17117. 9 18257. 0 1 11619. 6 8 3 3 5 .,2 3049. 6 3363. 3 8 3 6 .. 1 1 0 8 6 .2 3 2 8 4 ,,4 12179. 4 8688. 1 3148. 3 3 5 8 9 ,, 0 8 1 7 .,1 1133. 7 3 4 9 1 .3 12756. 9008. 3279. 3707. 827. 1193. 3747. 0 4 9 1 6 8 6 13568. 3 9528. 3 3448. 6 3 8 9 9 ..4 8 9 8 .,3 1 2 8 1 .,5 4 0 4 0 .. 0 14340. 5 10047. 2 3639.1 4112. 7 904. 3 1 3 9 1 ..1 4293. 3 15136. 2 10639. 6 3902. 1 4322. 2 887. 8 1527. 5 4 4 9 6 .6 1 6 1 3 1 .,4 11339. 2 4213. 2 4515. 9 9 5 0 .6 1 6 5 9 .,5 4792. 2 17097. 11940. 4298. 4810. 1023. 1808. 5156. 2 5 0 3 8 4 8 18235. 9 12661. 5 4566 .1 5084. 2 1 0 8 1 .6 1929. 6 5 5 7 4 ., 4 2 3 4 5 6 7 8 18.,4 19. 5 21 .,4 20. 7 21 .. 0 9 1 6 1 5 2 ..8 17117, 9 1 8 2 5 7 ., 0 10 16..7 15..2 16. 4 16.1 1 1 6 3 4 ..9 1 2 1 9 5 .,8 12772. 2 1 3 5 8 5 .. 0 1 4 3 5 8 .. 9 15155. 6 1 2 7 6 3 ..8 1 3 4 8 5 ..7 14250. 7 1 5 2 0 5 .. 4 16109, 8 17094. 5 1 8 2 4 0 .. 1 19287. 2 20613.3 11 6 4 5 9 ,.1 1 0 3 0 7 .6 2 0 1 6 ,2 8 7 9 ..5 9 5 2 ..8 6 9 0 1 ..3 1 1 0 2 1 ..4 2 0 1 5 .. 1 9 4 1 ,.8 1 1 6 3 .. 1 7 4 4 4 .. 1 1 1 9 6 1 ..8 2059 . 1 1 0 7 1 .. 0 1 3 8 7 ..6 8 1 3 6 ..9 1 2 6 9 7 .- 7 2 0 2 6 .-8 9 9 4 ,. 1 1 5 3 9 ..8 8748. 8 1 3 9 4 2 ..3 2 0 4 9 ,.6 1 2 6 1 .. 1 1 8 8 2 ..9 9 3 8 7 .,6 1 5 1 5 8 ..5 2 1 0 7 .2 1 4 3 6 .5 2 2 2 7 .3 1 0 0 8 2 .. 9 16122 . 7 2 2 2 4 .6 1 4 0 2 .. 7 2 4 1 2 .4 1 0 6 9 4 .. 4 1 7 2 1 6 ..2 2 3 5 3 ., 0 1528. 5 2640. 3 1 1 4 8 9 ., 1 1 8 9 5 5 ..6 2508. 1 1 8 3 1 .2 3127. 2 12 13 14 15 16 worth, 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 o . b u s . -Corp. equities held (7)(8) - P e n s i o n fund r e s e r v e s 17 18 19 20 N o n f i n a n . b u s i n e s s net worth Nonfarm noncorp. business Farm business Nonfinaneial corps. 5 4 6 6 ..7 1 1 9 7 ..8 8 7 7 ..8 3391 . 1 5 6 1 0 ..5 1 2 3 1 .. 0 840 . .5 3 5 3 9 .. 0 5 7 2 3 ..4 1270. 3 8 4 5 ..6 3 6 0 7 ..5 5 7 6 6 ..2 1 3 2 9 .. 7 7 4 5 .. 9 3 6 9 0 ..6 5 8 4 7 .. 1 1 4 1 5 .,9 6 7 5 ..9 3755. 3 5928. 3 1 4 9 8 ..2 6 4 6 ..6 3 7 8 3 ..5 6 1 3 7 ,.8 1 5 6 8 .. 4 7 0 2 .5 3 8 6 6 .. 9 6 4 1 1 ,, 9 1 6 6 4 ,.6 7 3 5 ., 0 4 0 1 2 ..4 6681. 2 1791 .7 7 6 4 ., 0 4 1 2 5 .,4 17 18 19 20 21 22 23 24 Pvt. finan. inst. net assets S e c t o r net w o r t h ^ P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s held (7)(8) 837 . 9 3 9 7 ..3 9 5 2 .8 5 1 2 .2 9 7 3 .. 9 4 3 4 ..7 1 1 6 3 .. 1 6 2 3 .. 9 1 0 8 3 .. 1 4 8 4 ,,4 1 3 8 7 ..6 7 8 8 ..8 1 3 0 2 ..3 5 5 9 ..4 1539 , .8 7 9 7 ,. 0 . 0 1514 , 6 4 8 ..5 1 3 8 2 .. 9 1 0 1 7 ,. 4 1 7 7 8 .. 6 7 4 0 .. 0 . 3 2227 , 1 1 8 8 ..8 20 19.. 8 2 0 ,. 2412 . 1 2 1 4 ,. 4 9 4 0 2180. 9 9 1 6 ..7 2 6 4 0 .. 3 1 3 7 6 .. 0 2 4 4 3 .. 0 1 0 3 6 ..9 3 1 2 7 ..2 1 7 2 1 .. 1 21 22 23 24 - 9 2 1 .9 - 9 0 ..9 - 8 4 8 ,.3 16..3 1 .. 0 - 1 1 0 1 .. 0 - 7 7 ..8 - 1 0 4 1 .. 7 17,.4 1 .. 1 - 1 2 7 6 ,.2 - 7 3 .6 - 1 2 2 3 ,. 9 20,. 1 1 .1 , - 1 4 6 8 ..3 - 5 9 .3 , - 1 4 2 9 ,.8 19.-6 1 .2 , - 1 6 8 9 ..9 - 4 8 .. 1 - 1 6 6 3 ,. 7 20 . 6 1 .3 . 4 .8 , . 4 . 4 .4 - 2 0 6 9 .. 6 - 5 9 ,. 1 - 2 0 3 7 ..8 25..8 1 .5 . - 2 2 7 2 .. 1 - 9 0 ..2 -2212 . 9 29 . .4 1..6 25 26 27 28 29 130 . .4 8 1 3 ,.8 18.. 2 8 6 6 .8 - 2 4 3 ..3 1 1 2 3 ,. 7 30 31 25 26 27 28 29 Public 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 - 7 7 6 .5 - 8 9 .3 - 7 0 2 .8 14,.6 0,.9 -1873 -51 -1845 22 1 Less: N e t U . S . f i n a n c i a l c l a i m s on 30 f o r e i g n e r s (9) 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 h e l d by foreigners, excluding 32 equities 33 Unallocated finan.assets (10) 31 1 .8 7 2 9 .5 3 1 3 .5 7 4 1 .7 3 0 4 ,.4 777 . 1 2 1 6 .8 789 . 9 4 1 7 .7 428 . 3 472 . 7 573 . 0 - 4 0 .5 (1) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l , s t a t e , and local g o v e r n m e n t s ; e x c l u d e s land h o l d i n g s 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 i n t a n g i b l e a s s e t s s u c h a s p a t e n t s . (3) At c u r r e n t c o s t . (4) 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 net worth 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) . (5) E q u a l s net 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 a n d p r i v a t e s e c t o r s , l e s s 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 , 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 > 33). ( 6 ) L i n e s 1 2 * 17 * 2 1 . (7) I n c l u d e 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 . (8) E x c l u d e s m u t u a l fund s h a r e s . ( 9 ) 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 . (10) 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 t h e 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 f o r 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 f r o m 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 billions of dollars. - 5 4 .5 -73 . 1 - 1 2 7 .3 683 . 3 -152 . 3 -62 . 1 937 . 9 - 1 4 0 ..3 1 027,.3 8 4 8 .6 1000 . 0 1 1 6 7 .6 1367,. 0 32 -230 . 7 -276 . 0 -240 . 0 -327 . 6 33 M a r c h 9, 1994 'Domestic Wealth Domestic .11 Year-End Domestic Wealth with Tangible Assets at Current Cost Outstandings Year-End 1 18255 . 1 18405 . 2 2 3 4 5 6 7 8 18233 13274 4795 5320 1110 2047 4959 18382 13637 4972 5440 1083 2141 4745 . 1 . 0 .8 .7 .4 . 1 . 1 . 9 .6 . 1 .2 . 4 . 9 .3 1 8 3 6 3 .2 18765 . 0 18343 14056 5190 5534 1099 2232 4287 18744 14514 5499 5544 1133 2338 4230 .6 . 0 .6 .3 . 0 . 1 .6 Domestic .9 .8 .2 .2 .4 . 0 . 0 wealth 7 Outstandings (1) 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 8 equip. Inventories Consumer durables L a n d at m a r k e t v a l u e 9 22 . 0 2 2 .3 10 1 8 2 5 5 ,. 1 1 8 4 0 5 ,.2 1 8 3 6 3,. 2 18765 . 0 Domestic net worth, by s e c t o r ( 4 ) ( 5 ) 11 2 0 8 0 8 ,.2 2 1 2 0 0 ,. 1 2 1 3 8 6 ,.6 2 1 9 6 6 .2 P r i v a t e sector net c o n s o l i d a t e d (6) 12 13 14 15 16 1 1 6 0 4 ,.2 1 8 9 3 3 .. 1 2 4 4 0 ,. 6 1 7 3 8 ., 7 3149. 8 12123 . 9 2 0 7 3 1 ,.8 2344 . 6 2 4 8 2 .8 3 7 8 0 ., 4 1 2 5 5 3 ,. 4 2 1 7 6 6 ,. 4 2 2 7 4 ,,5 2 8 8 4 ,,3 4054. 3 1 3 0 6 6 ,.9 2 2 7 4 2 .3 2 2 2 1 ..2 3 0 0 9 ..4 4 4 4 4 .,3 17 18 19 20 6 5 7 7 .,9 1713. 3 776. 1 4088.5 6 2 8 4 ., 2 1 6 3 1 ., 4 764. 7 3888. 1 5977. 2 1 5 4 6 .9 7 3 1 .6 3648. 7 21 22 23 24 2626. 1 1 0 5 9 .6 3149. 8 1583. 3 2792. 0 1126. 3 3 7 3 0 .4 2114. 8 2 8 5 6 .1 1158. 0 4054. 3 2356. 2 25 26 27 28 29 -2507. 9 - 1 3 6 .6 -2406. 0 33. 1 1 .6 -2782. 0 -173. 2 - 2 6 4 6 .5 36. 0 1 .7 -3132. 1 - 2 2 7 .4 -2998. 2 41 .8 1 .7 -3525.3 -238. 7 -3285. 7 47. 3 1 .8 30 31 - 3 0 6 .4 1 2 1 6 .3 -357. 0 1 2 3 0 .2 -475. 9 1263. 1 -652. 5 1 3 2 9 .9 19 .6 Wealth 20 . 1 + U.S. monetary gold 8 SDRs worth, H o u s e h o l d net a s s e t s S e c t o r net worth - E q u i t y in n o n c o r p . b u s . -Corp. equities held ( 7 X 8 ) - P e n s i o n fund r e s e r v e s 12 13 14 15 16 5 9 8 9 .3 1 4 9 8 ., 0 7 8 7 ., 4 3703. 8 Nonf inan. b u s i n e s s net worth Nonfarm noncorp. business Farm business N o n f i n a n e ial c o r p s . 17 Id 19 20 2910. 1256. 4464. 2790. Pvt. f inan. inst. net assets S e c t o r net w o r t h • P e n s ion f u n d r e s e r v e s - C o r p . e q u i t i e s held (7)(8) 21 22 23 24 0 0 3 7 P u b l i c sector net a s s e t s S t a t e and l o c a l g o v e r n m e n t s U.S. government Govt.-spons. enterprises Monetary authority 32 1522. 7 1 5 8 7 .2 1739 .0 1982. 4 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 (9) 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 by foreigners, excluding equities 33 - 3 5 1 .6 - 3 6 9 .9 - 3 1 7 .3 -328. 5 Unallocated c inan.assets (10) (1) (2) Located within U.S. g e o g r a p h i c a l boundaries. 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 land h o l d i n g s 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 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) 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 net 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) . ( 5 ) 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 o u b l i c a n d a r i v a t e s e c t o r s , l e s s 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 , 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 * 33). (6) L i n e s 1 2 + 1 7 + 21. (7) I n c l u d e 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 . (8) E x c l u d e s m u t u a l fund s h a r e s . ( 9 ) 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 . (10) 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 t h e 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 a n d 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 f r o m 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 billions of dollars. 25 26 27 28 29 30 31 32 33 M a r c h 9, 1 9 9 4 Net Foreign Assets Net B.109 Year-End Net Foreign Assets Held by U.S. Outstandings Year-End 1950 net foreign 1 U.S. 2 Foreign assets owned U.S. residents assets CI) 3 4 5 6 7 8 9 10 11 12 13 14 15 Security debt Trade debt 0.4 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. d ir.inv.abroad (2)(3) Other U.S.assets owned by -.2 0.1 31.4 31.9 34.3 3 6 .7 2 1.5 0.1 15.1 3.4 0.9 0.3 0.3 0.3 1 .4 0 .1 16 .3 3 .3 0 .7 0 .2 0 .3 0,.2 10.3 0.2 10.7 0..2 12 . 0 3 4 5 6 7 8 9 1 0 11 12 13 * * 0.5 0,.5 14 15 . 1 .6 .3 14.7 1.4 18.4 0..6 0. 3 16..3 1 .3 . 16 17 18 19 c0 16.1 1.4 1.4 14.0 3.1 0.7 14.7 3.4 0.4 0.5 0.6 0.6 0.3 0.5 0.3 0.3 0.4 0.2 0.1 0.1 0.1 0.1 8.4 9.5 0.1 10.0 0.3 0.4 0.4 0.4 0.4 0.5 9.4 0.6 0.4 7.2 1.2 9.1 10.2 11.4 12.3 15.4 15.3 0.2 0.6 0.6 0.6 0.3 9.6 0.9 0.3 10.7 0.7 0.3 13.0 1.3 2.7 1.6 0. 4 2.3 1.6 1.7 2.2 1.6 2.0 1.6 0.5 0.8 3.1 2.4 0.1 0.5 0.3 0.3 2.8 0.8 0.6 0.2 7.2 1.0 0.1 2.8 1 . 0 0.1 0.6 0.3 8.4 0.9 35 36 37 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 5.3 2.5 38 Memo: U.S. corporate equities h e l d by f o r e i g n e r s Foreign corporate equities h e l d oy U . S . r e s i d e n t s 2.6 2.6 0.2 2.1 2.1 0.3 3.0 2.7 2.7 0.1 0.4 0.1 0.6 0.1 0.2 10.1 11.8 2.7 0.1 0.8 0.2 2.8 17 .2 21 1.1 1.7 1.7 1.7 2. 0 1.8 1.8 . 1 .5 2 .4 1,.7 22 23 24 4.8 4.3 4.3 4.9 4.3 4.3 5.1 4.5 4.5 5 .8 5 . 0 5.. 0 0.2 0.3 0.3 0.4 0,. 4 0.1 0.2 0.3 0.3 0..4 25 26 27 28 29 30 31 32 0.1 0.4 0.1 0.4 0,. 1 0,.4 33 34 3.1 2.8 2.8 1.7 3.4 2.9 2.9 2.0 2.0 0.1 0.4 0.1 0.4 0.3 0.1 0.4 5.4 2.5 2.9 4.0 4.1 2.7 0.9 0.4 2.6 2.8 1.4 1.3 3.8 2.9 0.9 4. 1 3.4 0.7 4.8 3.7 1 . 1 4.9 3.9 1.0 5 .3 4,.3 1 .. 1 35 36 37 2.7 2.5 2.3 2.5 2.9 3.5 3.7 3 .7 38 1.0 1.0 0.9 0.7 1.2 1.4 1.5 1 .3 , 39 ( 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 ) C o r p o r a t e b o n d s I n c l u d e n e t 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 financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond isues. ( 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 . dollars. 1.2 0.1 0.1 11.2 foreigners 0.1 1 1.5 Security credit Trade credit of 19 .5 13.9 2.9 0.9 33 34 billions 18.3 1.3 Security RPs Credit market instruments U.S. government securities Official holdings Private holdings U.S. c o r p o r a t e bonds (2) L o a n s to U . S . n o n b a n k b o r r . Open market paper in 1953 16.8 13.7 2.9 25 26 27 28 29 30 31 32 are 1952 Outstandings 17.0 0.9 8.0 U.S. checkable dep. U.S. time deposits Net interbank claims Data 1951 12.3 5.0 2.9 0.5 22 23 24 39 Assets by U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n U.S. private deposits Credit market instruments C o r p o r a t e b o n d s C2) Bank loans n.e.c. To f o r e i g n o f f i c i a l To f o r e i g n b a n k s To other f o r e i g n C o m m e r c i a l paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 21 Foreign Residents 'March Net 9, 1994 Foreign Assets N e t B-109 Net Foreign Assets Held by U.S. Foreign Residents Year-End 1954 3 4 5 6 7 1955 1956 1957 1958 1959 1960 1961 19.7 21 .3 24.7 28. 7 31.2 31.4 34 . 0 37.9 40.4 U.S. 38.4 4 0 .6 46.4 5 1 .4 55.3 58.9 6 3 .5 69.6 74.1 Foreign assets owned U.S. residents 9 10 11 12 13 1. 0 0. 1 16 .6 3. 1 1. 4 0 .4 0 .5 0 .5 1.6 0.1 17.4 3.4 1.8 0.5 0.6 0.7 2. 0 0.1 18.8 3.8 2.1 0.7 0 .6 0.9 2.0 0.1 20.8 4.7 2.6 0.9 0 . 7 1 . 1 2.0 0.1 21.4 5.2 2.9 0.9 0.7 1 . 3 1 .6 0. 1 2 3 .2 5.8 3 .0 0 .9 0.8 1. 4 1 .8 0 . 2 25.5 6.2 3.7 1 . 0 1. 0 1.7 1 . 2 0 .8 2 7 .5 7.2 4.2 1 . 0 1 . 2 1.9 0 . 3 11 .8 0. 3 11 .8 0.5 1 1.8 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 16 17 18 19 20 19.9 0 . 6 0 . 4 17.6 1 .2 22 0 0 19 1 . 2 . 6 . 7 . 4 .5 . 18.7 22 23 24 25 26 27 0. 1 0 . 7 0.1 0.8 0.1 0.8 26.4 0.7 1 . 3 22.5 2. 0 29.6 0.7 1 .8 25.4 1 . 7 22.6 Outstandings 1962 1.2 0.2 16.6 3.3 1 .2 0.4 0 .4 0.3 8 Assets g 0.1 0 . 9 0. 1 1 .6 . 0 . 1 1 . 7 0 . 1 2.2 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 24.1 19 , . 3 21 . 6 27.6 29. 6 31 . 7 33. 7 1 . 7 2.9 1 . 7 1 .5 . 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 7.3 6. 1 6.1 7.5 5.9 5. 1 0.8 0 . 6 7.5 6 . 0 4.4 1 .6 0 . 6 11.7 10.4 8. 0 2.4 0 . 6 12.6 10 . 7 8. 6 2. 0 0. 7 13. 1 11.0 8.8 2.2 0. 7 14.8 12.7 10.3 2.5 0.7 net foreign assets CI) 1 by 2 U.S. o f f i c i a l fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits Credit market instruments C o r p o r a t e b o n d s (2) Bank loans n.e . c . To f o r e i g n o f f i c i a l To f o r e i g n b a n k s To o t h e r f o r e i g n 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 3 4 5 6 7 8 9 10 11 12 13 Security debt Trade debt 14 15 M i s c e l l a n e o u s U.S. assets U . S . aq . in I B R D , e t c . U.S. government deposits U.S. dir.inv.abroad (2)(3) Other 16 17 18 19 20 U.S.assets owned by foreigners 21 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 22 23 24 25 26 27 28 29 30 31 32 28 6.4 5.5 5.5 29 30 31 32 0 . 4 0 .4 0.5 0.6 0. 4 0.7 1 . 0 0.8 0.8 1 .3 1.4 1.4 Security RPs Credit market instruments U.S. government securities Official holdings Private holdings U . S . c o r p o r a t e b o n e s (2) L o a n s to U . S . n o n b a n k b o r r . Open market paper 33 34 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 33 34 35 36 37 5.5 4.6 0.8 6 .0 5. 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 7 . 6 0.5 M i s c e l l a n e o u s fgn. a s s e t s D i r e c t i n v e s t , in U . S . (3) Other 35 36 37 38 5.3 6 .6 7.0 6 . 1 8.3 9.4 9. 3 39 1.9 2. 4 2.6 2 . 2 3. 1 3.7 4. 0 U.S. corporate equities h e l d by 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 39 11.8 4 . 9 10.3 4.7 ( 1 ) E x c l u d e s U . S . h o l d iinngg s of f: o0rre e i ging ne qeu<i t i of U . S . e q u i t i e s . ( 2 ) C o r p o r a t e b o n d s i n c l u d e n e t 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 financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond isues. ( 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. 38 M a r c h 9, 1 9 9 4 Net Foreign Assets Year-End Net B.109 10 Net Foreign Assets Held by U.S. Year-End Outstandings 1970 1 U.S. 2 Foreign assets owned U.S. residents net foreign assets (1) 12 13 14 15 Security debt Trade debt 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 . d i r . inv . a b r o a d ( 2 ) ( 5 ) Other 6 7 8 9 10 11 21 U.S.assets owned by foreigners 22 23 24 U.S. checkable dep. U.S. time deposits Net interbank claims 25 26 27 28 29 30 31 32 Security RPs Credit market instruments U.S. government securities Official holdings Private holdings 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 . n o n b a n k b c r r . Open market paper 63. 6 67. 7 2 1. 2 0. 7 30. 8 8. 2 4..8 0. 9 1.,4 2 5 1.2 1.1 35. 0 8.7 6.5 0.9 2.0 3.6 1.6 0.8 37.5 9.1 7.1 1 .1 2.1 3.9 1.6 0.9 39.5 9.9 7.1 1. 0 2.2 3.8 2. 8 1 .1 43. 3 11 . 1 6 .7 1 .0 1 .8 3. 9 4. 8 . 1 .6 4 6 .. 1 12. 2 6. 3 0. 8 1. 9 3. 6 5., 1 1 .2 49. 2 13. 2 6., 0 0. 8 2..1 3. 2 2.6 0.8 52.1 14.1 5.8 0.6 2.0 3.2 0. 9 1 .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 3 4 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 6 5 ., 1 1 ,. 4 4., 0 6 4 .,4 - 4 .,6 6 9 ,2 1 .5 , 3..9 70..3 - 6 ..5 74,. 1 1 ., 7 3,.8 78..7 - 1 0 .. 1 79.2 1.9 3.8 89.1 -15.7 86., 4 2. 2 3.,6 101 ,,2 - 2 0 ..6 16 17 18 19 20 37. 2 41.3 42.7 46. 1 5 2 ..3 5 8 .,3 6 7 .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 5., 9 7,.4 9., 4 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 .1 11 , 2 .6 0,.8 16.9 14.3 11.5 2.8 1 . 0 16.5 12.9 9 . 9 3.0 1.4 18., 9 15..3 12..2 3. 2 1 .3 19 , .3 15,. 0 . 4 11 , 3 .6 1 .5 , 18 12 9 3 2 29.9 22.8 18.5 4.3 2.7 56..5 49 .4 45,. 0 4,.3 3. 0 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 0..3 3..3 0 .6 4,.8 0 .4 5 .8 0.3 7.4 0,. 3 7 .2 33 34 9 .6 , 9 . 9 .4 10,. 9 1 0 .8 . 0. 1 10,.5 1 1 .8 - 1 .3 10.0 13.3 -3.3 12 . 7 13 .9 - 1 .2 35 36 37 26 .8 27.2 30 .8 38 6.6 7 .6 39 17.2 14.4 11.4 3.0 0.8 8.7 8.4 0.4 8.8 8.8 8.7 9.1 -.4 1 2 .5 13.8 14.6 12.6 2 5 .5 29 .5 5.3 5.0 4.3 5,.2 6 .5 5. 1 * ( 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) 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 financial subsidiaries; U.S. direct investment abroaa excludes net inflows from those bond isues. ( 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 . 151 .5 1 2 6 ., 0 3 .7 7 .9 0 .7 dollars. 140.5 115. 9 M i s c e l l a n e o u s f gn. assets D i r e c t i n v e s t . in U . S . ( 3 ) Other of 134. 5 106. 0 35 36 37 billions 1 98.8 0.2 2.1 in 5 4 .,9 91.5 0 . 1 1.8 are 68.7 80. 4 0,. 1 1 .5 Data 67. 2 59.9 Security credit Trade credit 39 1971 56.1 33 34 U.S. corporate equities h e l d by f o r e i g n e r s Foreign corporate equities n e l d by U . S . r e s i d e n t s Outstandings 50.2 0.2 2.7 38 Assets 43. 3 by U.S. o f f i c i a l fgn. e x c h a n g e & net IMF p o s i t i o n U.S. private deposits Credit market instruments C o r p o r a t e b o n d s (2) Bank loans n.e.c. To foreign official To f o r e i g n b a n k s To other foreign 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 5 Foreign Residents .8 . 9 . 0 .9 . 0 7. 0 M a r c h 9, 1 9 9 4 Net F o r e i g n A s s e t s Net B.109 Year-End Net Foreign Assets Held by U.S. Year-End 1973 1975 1976 1977 1978 1979 1980 1 5 0 .3 54.9 56.0 8 1 .4 1 6 5 .4 171 . 0 194 . 0 2 3 9 .7 278.6 U.S. 2 1 6 3 .1 180.2 206.6 2 3 4 .5 3 5 9 .6 4 1 4 .1 5 0 2 .6 5 8 5 .6 672.8 F o r e i g n assets owned U.S. residents 3 4 5 6 7 8 9 10 11 12 13 0 .7 2 .2 61 . 1 16 .0 10 .4 1 .0 3 .5 5 .9 0.6 3.3 67.4 17.0 13.1 1.4 5. 1 6.5 3 .2 31 , .5 14 15 4.2 33.2 1.9 4.9 81.2 19.4 17.8 1.7 8.2 7.8 0.2 11.2 32.7 2 .3 5 .8 9 5 .6 26 .5 21 .6 2. 0 9 .3 10 .3 0 .6 11,. 1 35,. 7 4 .8 7 .4 116 . 0 3 5 .1 2 8 .4 2 .9 13 .5 12 . 0 1 .3 1 2 .4 38,.9 0,.4 6,.6 0.2 8.5 0.2 11.5 0..3 12..2 16 17 18 19 20 9 2 .2 2 .5 3 .5 126..4 -40. 2 100.2 2.8 4.1 145.4 -52. 1 106.8 3.4 3.5 166.4 -66.6 21 112..8 125.3 150.6 22 23 24 8..3 10.,6 6..8 11.2 13.4 1.6 14.0 21.1 0.4 65., 1 5 8 ., 0 53. 8 4. 2 3. 1 0.5 66.0 58.4 55.0 3.5 3.1 25 26 27 28 29 30 31 32 net foreign Outstandings assets by 2 U.S. official fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits Credit market instruments C o r p o r a t e b o n d s (2) Bank loans n.e.c. To f o r e i g n o f f i c i a l To f o r e i g n b a n k s To o t h e r f o r e i g n C o m m e r c i a l paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 3 4 5 6 7 8 9 10 11 12 13 S e c u r i t y debt Trade debt 14 15 Miscellaneous U.S. assets U . S . e q . in I B R D , a t e . U.S. government deposits U.S. dir.inv.abroad C2)(3) Other 16 17 18 19 20 5 .4 17 .1 157 .6 44 . 1 49 .9 5 .2 2 5 .7 19 .1 2 .9 15,. 0 45,.7 1 2 .5 13,.0 18.. 0 20,.2 25.6 118,.4 4,. 1 2,.0 191 , . 1 - 7 8 ..8 2 1 8 .9 5 .2 0,.9 212..7 0.. 1 2 5 7 .9 6 . 0 0,.8 255 . 1 -3..9 304..4 6.. 6 0..9 293..5 3..4 360,.5 7..5 0..9 3 4 8 .2 3 .8 405.7 8.3 1.8 404.2 -8.7 153.. 1 194.,2 243..0 308..7 3 4 5 .8 394.3 13..7 22..6 - 9 ..5 16..9 20.. 7 - 1 5 ..4 19.,3 21 .. 0 - 1 6 ., 4 19.. 0 22..2 - 1 0 ., 0 23.,4 24. 6 9. 5 23.5 25.8 -17.1 U.S. checkable dep. U.S. time deoosits Net interbank claims 22 23 24 0. 5 80. 7 70. 5 66. 2 4. 2 4. 6 0. 3 5. 3 0. 4 94.. 4 82. 9 75. a 7. 3 5. 5 0. 5 5. 6 0. 3 142., 1 113. 3 105., 4 8. 0 22. 1 0. 6 6. 0 2. 4 170. 5 138. 4 128. 5 9. 9 24. 7 0. 9 6. 5 4., 1 161 . 0 121 . 9 106. 6 15. 3 27. 7 2. 9 8. 4 4.4 186.4 135.8 118.2 17.6 36.9 4.5 9.3 Security RPs Credit market instruments U.S. government securities Official holdings Private holdings U . S . c o r o o r a t e b o n d s (2) L o a n s to U . S . n o n b a n k b c r r . Open market paper 25 26 27 28 29 30 31 32 Security credit Trade credit 33 34 5 26 172 47 53 7 21 24 4 18 48 .1 .9 .9 .8 .0 .3 .6 . 1 .6 .6 . 9 13.0 31 .4 197.2 49.0 64.8 11.9 26.3 26.6 7.0 22.7 53.8 4. 1 4.4 33 34 0. 4 8. 2 0.3 10.2 0.3 12.4 0. 4 14. 8 18. 9 20. 8 24. 9 25. 2 28.6 35 36 37 13. 5 14. 9 -1 .4 22.1 20.6 1.6 30.1 25.1 5.0 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. 8 142.6 125.9 16.7 38 39. 1 33.5 23.9 33. 4 39. 1 39. 8 42. 1 48. 3 64.6 10.1 11.2 14.8 18.9 U.S.assets owned by foreigners in b i l l i o n s of dollars 21 M i s c e l l a n e o u s fgn. assets 35 D i r e c t i n v e s t , in U . S . (3) 36 Other 37 Memo: U.S. corporate equities h e l d by f o r e i g n e r s Foreign corporate equities h e l d oy 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) 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 financial subsidiaries; U.S. direct investment abroad excludes net i n f l o w s f r o m t h o 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 . are (1) 5 .0 8 .8 129 .4 40 .1 31 .4 2 .9 16 .2 12 .3 1 .8 14 .2 41 .8 0.5 71.9 62.8 60.1 2.8 4.0 0.3 4.8 Data Assets 11 Outstandings 1972 Foreign Residents 38 39 M a r c h 9, 1 9 9 4 Net Foreign Assets Net B.109 12 Year-End Net Foreign Assets Held by Year-End Outstandings 2 net foreign assets Foreign assets owned U.S. residents U.S. o f f i c i a l fgn. e x c h a n g e 8 net IMF p o s i t i o n U.S. private deposits Credit market instruments C o r p o r a t e b o n d s (2) Bank loans n.e.c. To f o r e i g n o f f i c i a l To f o r e i g n b a n k s To o t h e r f o r e i g n 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 -62. 1 -140.3 -243.3 866.8 937.9 1027.3 1123.7 29.1 127.6 237 . 9 74.9 26.9 27.1 142.8 251.4 89.2 21.5 4.8 7.8 8.9 49.9 24.9 65.8 14 15 Security debt Trade debt 25.8 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. d ir.inv.abroad C 2)(3) Other U.S.assets owned by foreigners 9.7 10.7 27.7 39.0 69.7 33.9 31.6 71.1 37.4 26.3 72.4 17. 2 16. 5 16. 3 15. 6 18. 1 440. 4 10. 6 1 .9 419. 8 8. 1 422. 9 11 .3 2. 0 410. 0 3 412. 7 12. 9 2. 4 403. 6 - 6. 2 425. 6 14. 4 2. 2 424. 7 -15. 8 456. 6 15. 9 1 .3 454. a -15. 4 522. 7 17. 2 1 .4 523. 2 -19. 1 4 1 7 .7 428. 3 472. 7 573. 0 683. 3 848. 6 1 000. 0 16. 0 34. 9 -87. 9 17. 5 35. 4 -75. 5 19. 7 40 .. 0 -73. 2 21 .2 43.. 7 - 5 8 .,6 23. 9 41 .. 0 - 4 5 .,9 22. 5 42. 0 - 1 .8 Q 254.'.5 160 ..4 132..6 27 .8 6 8 .3 19..6 6 .3 6. 7 280. 2 173. 3 137. 0 36. 3 74. 9 24. 9 7. 1 6..8 355..6 210..4 144,.7 65..8 90 .5 46 .3 8 .3 7 429 241 145 96 126 52 8 10..9 537,,5 291 .5 1 7 8 .9 1 1 2 .5 166 .6 71 .4 8 .0 13.. 1 5 9 2 ,. 7 323.. 1 220,.5 1 0 2 .5 185,.4 7 5 .2 9. 0 30 . 1 30. 6 31 .5 31 .7 3 2 .8 33 . 1 1 7 4 .6 176 .9 - 2 .2 177..8 184..4 - 6 .6 1 9 2 .7 2 1 1 .2 - 1 8 .5 2 0 9 .3 231 .3 - 2 2 .0 2 4 8 .5 2 6 5 .8 - 1 7 .3 64.4 76.3 96.4 96.1 125.6 16.5 17.4 26.2 26.0 41.0 18.2 107.2 235.2 29.6 57.9 33.8 5.4 15.1 13.3 15.1 38.2 62.2 26. 3 18. 3 425. 9 9 .3 1 . 4 -11. 3 61.1 10.8 22 23 24 U.S. checkable dep. U.S. time deposits Net interbank claims 19 .7 28.. 1 - 5 5 ., 0 25 26 27 28 29 30 31 32 Security RPs Credit market instruments U.S. government securities Official holdings Private holdings 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 . n o n b a n k b o r r . Open market paper , 216 . 145.. 125,. 20 . 33 34 Security credit Trade credit 35 36 37 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 38 Memo: U.S. corporate equities h e l d by 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 39 4 4 3 1 8 . 0 2 8 .4 175 . 6 159 . 9 15 .7 (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) C o r p o r a t e b o n d s i n c l u d e n e t 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 financial subsidiaries; U.S. direct investment abroad excludes net inflows f r o m those bond isues. (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 b i l l i o n s of dollars. 1987 24.4 128.3 244.4 82.3 23.3 5.3 7.8 10.2 41.2 27.3 70.3 17.6 91.9 227.5 64.2 37.4 8.5 14.2 14.8 21 .5 38. 0 66.4 17.6 55.2 210.3 14.8 41.8 220.7 54.5 67.8 12.6 21.8 33.3 68.0 30.8 7.6 11.0 12.2 24.8 110.7 236.4 71.8 27.9 6.2 12.1 .5 , . 6 .3 . 1 .2 . 4 .8 .2 Outstandings 1989 18.2 304.4 by 3 4 5 6 7 8 9 10 11 12 13 21 313.5 (1) Assets 1988 1986 1 U.S. Foreign U.S. R e s i d e n t s 6.2 10.0 1 261.2 3 4 5 94.1 21.4 3.4 8 53.6 142.8 8.6 9.4 63.0 19.6 63.2 6 7 9 10 11 12 13 28. 6 14 15 637. 6 20. 7 0. 6 577. 2 39. 1 16 17 18 19 20 1167.6 1367 . 0 21 22. 0 45.0 5.1 22. 5 43. 1 -2. 5 22 23 24 13.0 694.7 387.2 260.9 126.2 199.3 96.3 11.9 17. 2 778., 7 432.. 0 262..5 169..6 211..9 120,.5 14 .2 25 26 27 28 29 30 31 32 35.7 38 . 0 33 34 2 9 8 .5 3 1 3 .5 - 1 5 .0 352.1 374.3 -22.2 47 0 .0 436 . 6 3 3 .4 35 36 37 168.9 175.6 201.0 260.6 38 63.0 69.6 86.0 119.9 39 580.2 . 19.6 0.7 538.2 21.7 March 9, 1994 Net Fore ign Assets Net F o r e i g n Assets B . 1 0 9 Net F o r e i g n Assets Held by U.S. R e s i d e n t s 13 Year-End Year-End O u t s t a n d i n g s 1 -306 .4 -357 . 0 -475.9 - 6 5 2 .5 U.S. net 2 1216 .3 1230 .2 1263.1 1329 .9 F o r e i g n assets owned U.S. r e s i d e n t s 3 4 5 6 7 8 9 10 11 12 13 61. 3 159..4 285..1 115,.4 18..5 2 .8 5 .9 9,.8 75, 3 16. 3 59.. 4 55 .4 151 .3 298 .9 129 .5 21 .6 2 .4 6 .9 12 .3 31 , .8 12,. 0 54,. 0 14 15 27..4 30..2 30.4 16 17 18 19 20 683..3 22..0 0.,7 634..7 25..8 694 .4 23,.5 1 .6 . 666..4 2..8 728.4 25. 0 1.7 674.9 26.9 1587. 2 51.8 138.8 313.8 146.9 23.9 3.3 7.6 13.0 77.7 11.3 54.1 53 .4 118 .9 360 .3 207 .4 24 .4 2 .4 8 .7 13 .3 68 .7 8 .2 .6 51 . - 21 1522..7 22 23 24 22. 2 42. 6 22..0 25 26 27 28 29 30 31 32 32 . 0 765 3 26 .2 2..9 703..8 32..5 foreign Outstandings assets (1) 1 by 2 U.S. official fgn. exchange 8 net IMF position U.S. private d e p o s i t s Credit market instruments C o r p o r a t e bonds (2) Bank loans n.e.c. To foreign official To foreign banks To other foreign 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. government loans 3 4 5 6 7 8 9 10 11 12 13 S e c u r i t y debt Trade debt 14 15 M i s c e l l a n e o u s U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. d i r . i n v . a b r o a d (2)(3) Other 16 17 18 19 20 1739.0 1982..4 20. 8 42.. 0 5.. 1 22.3 39.3 54.5 21. 6 37..4 72. 9 16.,7 897. 5 502., 0 295.. 0 207. 0 217. 2 165. 9 12. 3 16..8 936, 2 559 . 0 315..9 243., 1 233., 4 130..8 13.. 0 23.7 1031.6 628.4 335.7 292.8 251.9 138.3 12.9 33 34 44. 5 43. 3 45.8 50. 2 35 36 37 477. 4 468. 2 9. 1 523. 1 487. 2 35. 9 521.9 492.3 29.6 618. 1 520. 6 97. 5 M i s c e l l a n e o u s fgn. assets 35 Direct Invest. in U.S. (3) 36 Other 37 38 221. 7 271 .9 300 .2 320. 6 39 110. 0 158. 8 178.0 248. 4 Memo: U.S. c o r p o r a t e equities held by f o r e i g n e r s 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 27., 4 1154. 9 737..9 388., 7 349., 1 273. 7 124. 8 18. 5 - U . S . a s s e t s owned by foreigners 21 U.S. checkable dep. U.S. time deposits Net Interbank claims 22 23 24 S e c u r i t y RPs Credit market instruments U.S. government securities O f f i c i a l holdings Private holdings U.S. corporate bonds (2) Loans to U . S . n o n b a n k borr. Open market paper 25 26 27 28 29 30 31 32 S e c u r i t y credit Trade credit 33 34 (1) E x c l u d e s U.S. holdings of foreign e q u i t i e s and foreign holdings of U.S. e q u i t i e s . (2) 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 ; 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 b a s i s . Data are in billions of d o l l a r s . 38 39 M a r c h 9, Tangible 1994 Asset Year-End Outstandings Tangible Holdings B.12 14 1 2 3 4 5 6 7 8 9 10 11 12 25 27 28 29 30 Tangible Assets by 1951 1946 1947 1948 1949 1950 T o t a l h o l d i n g s of t a n g i b l e s Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonf inanelal corporations Financial institutions 499.2 192.3 78.6 88.4 1 3 6 .8 3.1 595.9 220. 1 92.8 103.8 175.7 3.4 7 1 1 .4 260. 7 114. 9 120. 6 2 1 1 .3 3. 7 777.8 294.7 116.3 130.7 232.2 3.9 810. 8 323. 5 113. 1 134. 1 2 3 6 .0 4. 1 927.4 373. 1 136. 4 145. 9 267. 5 4. 5 1028. 7 419. 1 150. 1 155. 8 298. 7 5. 1 P l a n t and e q u i p m e n t CI) Nonprofit institutions Farm business Nonfarm noncorp. business Nonf inanelal corporations Financial institutions 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. 4 136 . 0 70.2 3.3 11.4 50 . 1 0.9 160.3 85.1 3.8 13.2 57.2 1 .1 1 9 0 .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 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonf inanelal corporations durables (households) L a n d at m a r k e t v a l u e H o u s e h o l d s & n o n p r o f it i n s t s Farm business Nonfarm noncorp. business Nonf inancial corporations Financial institutions Holdings Sector 1945 24 Consumer 26 of Year-End 13 R e s i d e n t i a l s t r u c t u r e s (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest. trusts 20 21 22 23 Distribution Asset Outstandings 1953 1952 1 3 2 0 9 1 3 1130.7 4 8 6 .3 147.2 163.6 328.0 5.5 253. 5 14. 8 21 .4 33. 4 180 .0 3. 8 268. 8 15. 8 22. 8 34. 4 191 . 9 4. 0 282.7 16.5 23.4 35.5 203.1 4.3 249. 3 150. 0 4. 8 17. 9 74. 7 1 .8 273. 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 80.2 2.0 13 14 15 16 17 110. 3 36., 1 13. 6 6 0 .6 123. 1 38. 6 14. 3 7 0 .2 120 ., 7 35.. 4 14., 0 71 . 3 122.0 34.4 14.5 73.1 20 21 22 23 1082. 455. 149. 159. 313. 5. 2 3 4 5 6 7 8 9 10 11 12 18 19 51. 4 14.1 7.2 30. 0 71 . 0 19.6 9.3 42.1 9 4 ,, 7 35.,4 10..4 48..9 98.6 32.3 12.1 54.2 8 9 .2 28. 4 il . 7 49 .1 46.2 53.2 65.. 1 76.3 8 6 .6 1 0 8 ..2 1 2 4 ..4 134.. 0 143. 0 2 5 4 .7 1 06 .. 1 71 .. 2 29 ..5 46 . .6 1 .3 2 7 0 .. 6 113,. 0 71 ..7 31 . 7 4 7 .9 1 .. 3 282.3 127.5 70.3 33.4 49 . 9 1 . 3 25 26 27 674. 3 2 9 3 ., 4 98. 7 1 2 5 ., 4 1 5 3 .. 0 3..8 713.0 319.8 100.0 129.2 160.2 3.9 7 6 2 ,.6 3 4 1 ..7 98.. 9 .6 131 . 166 .6 4 . 0 31 32 33 34 35 36 150.3 66. 1 46.0 16.4 21.2 0.5 169.6 69.8 51 . 1 18.7 29.2 0.8 188..6 76 .7 52 . 4 21,.9 36 .6 0. 9 198.7 33.4 53.2 23.9 37.3 0 . 9 206. 6 91 ., 0 5 1 ., 4 25.. 1 38.. 1 1 .. 0 2 3 1 .. 2 97 . 1 63, 3 2 7 .3 42 . 4 1. 1 363.1 145.8 423. 8 1 6 6 ..4 6 8 .. 7 8 7 ..5 98., 4 2..8 4 9 0 ..8 1 9 5 .. 0 73..5 1 0 0 ,.9 118..3 3,. 1 5 2 9 .,4 217 , 7 76 .. 0 1 0 7 ., 4 1 2 5 ..2 3 . 1 552. 7 236. 1 75. 1 n o .. 0 128. 3 3. 2 614. 2 2 6 3 .,8 8 8 ..9 1 1 8 .. 9 1 4 3 ,. 0 3 .5 28 29 30 Memo: 31 T o t a l r e a l e s t a t e ( 3 ) 32 Housenolds&nonprofit insts. 33 Farm business 34 Nonfarm noncorp. business 35 N o n f a r m n o n f in. c o r p o r a t i o n s 36 Private finan. institutions CI) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . ( 3 ) S u m of l a n d , n o n r e s i d e n t i a l 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 dollars. plant, 75.7 78.7 2.5 Tangible Asset Holdings Tangible B.12 Year-End Distribution of T a n g i b l e Assets Asset Holdings 15 by S e c t o r Year-End Outstandings Outstandings 1954 1955 1956 1957 1958 1959 1960 1961 1962 1 2 3 4 5 6 1172. 8 514. 4 149. 0 167. 0 336. 3 6. 1 1261.7 557.9 152.7 176.4 368.0 6.6 1368. 1 603. 2 161 . 1 185. 4 410. 8 7. 6 1438. 4 634. 3 169. 0 190. 3 436. 6 8. 2 1492. 3 664. 1 180. 5 194. 1 445. 1 8. 5 1556. 5 699. 1 185. 5 199. 3 463. 5 9. 1 1608. 0 730 . 0 188. 1 203. 3 476. 8 9. 7 1665. 7 761. 2 194. 9 208. 8 490. 5 10. 3 1734.3 794. 5 201 .8 216. 8 509. 9 11. 3 7 8 9 10 11 12 295. 0 17. 6 23. 7 36.7 212. 5 4. 5 322. 0 19.6 24.8 40.6 231 . 7 5.2 358. 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. 4 33. 0 29. 9 55. 4 326. 1 9. 0 P l a n t and e q u i p m e n t (1) Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 19 317. 9 209. 7 5. 2 19. 3 81. 7 2. 0 342.5 231 . 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. 8 6. 6 19. 2 94. 2 3. 6 460. 4 332. 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 Nonprofit Institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Real estate invest, trusts 13 14 15 16 17 18 19 20 21 22 23 118. 6 32. 5 14., 4 71 .7 124.9 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..8 16. 9 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. 8 15. 8 102.,8 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 20 21 22 23 24 147.. 1 157.3 171 .9 176. 2 182.. 0 189.. 0 193. 7 196,.8 202. 3 Consumer 24 314.9 144.5 78. 1 36.3 54.7 1.4 3 4 2 ,4 155. 3 85..0 38,. 6 61 .8 1,.6 366 3 167.,4 91 ..5 39,.9 65.8 1 .7 . 3 8 8 .7 178.. 0 100..3 40..9 67 .8 1. 7 405,.8 187.. 0 106,.7 42 . 0 6 8 .3 1.8 419. 6 196. 3 107, 7 43. 4 70, 2 2,.0 443,.7 208,.7 113,.1 46 . 0 73.8 2. 1 464..7 219. 7 118..0 48.. 0 76,.7 2 .3 L a n d at m a r k e t v a l u e H o u s e h o l d s & n o n p r o f i t insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 25 26 27 28 29 30 837.9 398.5 108.2 141.1 185.4 4.8 903 429 116 147 206 5 952 455 122 150 218 5 T o t a l r e a l e s t a t e (3) H o u s * h o l d s & n o n p r o f it i n s t s . Farm business Nonfarm noncorp. business Nonfarm nonfin. corporations Private finan. institutions 31 32 33 34 35 36 - 2 9 4 .2 134,,9 73..5 34 .3 50,. 0 1..6 25 26 27 28 29 30 T o t a l h o l d i n g s of t a n g i b l e s Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial Institutions durables (households) 1 2 3 4 5 6 Memo: 7 7 7 .8 365.5 1 0 2 .5 134 .5 170 .8 4 .4 31 32 33 34 35 36 .9 .0 .1 .3 .1 .4 .9 .6 .7 .6 .2 .8 994 479 131 153 224 6 .9 .4 .5 .6 .3 . 1 1039 507 138 158 230 6 .9 . 1 .4 .0 .0 .5 1076 533 139 161 234 7 .6 .2 .7 .9 .8 .0 1 1 2 5 .6 561 . 1 1 4 5 .8 1 6 8 .5 2 4 2 .6 7 .6 1174 588 151 175 250 8 .9 .6 .5 .9 .5 .4 ( 1 ) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . (3) S u m of l a n d # n o n r e s i d e n t i a l 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 dollars. plant, M a r c h 9, Tangible 1994 Asset Holdings Tangible 3.12 16 Vear-End Distribution of tangible Assets by Outstandings Year-End 1963 1964 19 6 5 196 6 196 7 1811 0 833 0 210 7 223 8 531 5 12 1 1905 8 874 9 218.8 236 2 562 1 13 8 2 0 2 8 ..3 9 1 9 .. 2 236. 2 2 5 0 ..9 6 0 6 ..5 15..5 2 1 9 8 ..3 9 9 1 ..8 2 4 6 ,.7 2 7 1 .8 6 7 0 ,.4 17,, 6 2351 , .5 1 0 5 9 ,. 4 2 5 9 ,.2 2 8 8 .. 4 7 2 5 ,. 1 19,.5 2 5 9 8 ., 2 1 1 8 2 ,. 0 2 7 2 ..3 3 2 2 ..5 7 9 8 .. 1 23. 2 . 0 2841 , 1 2 9 2 ,.8 2 8 3 ..3 3 5 6 ..5 8 8 6 ..6 31 ,.9 7 P l a n t and e q u i p m e n t (1) 8 Nonprofit institutions 9 Farm business Nonfarm noncorp. business 10 NonfInancial corporations 11 12 Financial institutions 472 9 35 8 31 4 58 1 337 9 9 7 500 4 38 8 33 0 61 9 355 8 11 0 542. 3 42..8 35.,5 6 7 ..8 3 8 3 ..6 12.,5 5 9 8 ,. 7 47,.5 38. 7 75..3 4 2 2 ..9 14. 2 6 4 9 ,, 4 5 0 ,.9 41 ,.6 81 ,, 0 4 6 0 .. 0 15..9 719. 3 57. 2 45. 2 8 9 ., 1 508.8 19., 0 7 9 6 .,3 64..4 49..4 98..8 5 6 1 .. 9 21 ,.8 13 R e s i d e n t i a l s t r u c t u r e s CI) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp . business 17 Nonf inancial corporations 18 19 Real estate invest. trusts 474 1 3 4 2 .4 7 .5 18,.8 1 0 0 ,.3 5,. 1 505 6 3 6 5 ..1 8. 3 19. 2 1 0 7 ., 1 6..0 5 3 2 .,5 3 8 5 ., 0 9., 0 19 . 2 112. 3 6. 9 5 7 6 ..9 4 1 7 .,7 10.. 0 20.. 1 121 . .2 7..9 6 0 8 ..7 4 4 1 .8 10..7 20. 6 1 2 7 .. 1 8.,6 683. 9 4 9 6 .2 12., 0 22. 2 1 4 3 ., 0 10.,4 0.. 1 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonfinaneial corporations 1 5 8 ,.7 34..9 15,.1 108,.7 164. 2 33.,3 15.. 1 115. 8 1 7 8 .,4 3 7 .,4 15. 8 125. 2 1 9 5 .. 1 36., 3 16. 4 142. 3 2 0 6 ..0 36. 5 17.. 1 1 5 2 ., 4 1 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corporations 5 Financial institutions 6 20 21 22 23 24 Consumer 25 26 27 28 29 30 durables Asset (households) Land at m a r k e t v a l u e HouseholdsSnonprofit insts. Farm business Nonfarm noncorp. business Nonf inancial corporations Financial institutions Holdings Sector 1968 1969 197 0 Outstandings 1971 3 3 2 0 ..9 1 4 7 8 ,. 1 313 . 0 4 3 0 ,.3 1 0 5 7 ,.3 42, 2 1 2 3 4 5 6 878. 8 71 .5 53. 3 109. 2 6 2 0 .. 1 24. 7 9 6 7 .,7 8 0 ..8 5 8 .,0 121 .,1 6 7 9 .. 1 28.8 7 8 9 10 11 12 7 5 2 .. 0 544. 3 13..2 23..5 158. 5 12..4 0,.2 795. 0 574. 4 13. 7 24. 2 168. 6 13. 9 0. 3 8 8 6 ..8 6 4 0 .,4 14. 9 25. 7 1 8 9 .. 1 16. 3 0.,4 13 14 15 16 17 18 19 2 2 1 .3 3 8 .,7 17. 6 1 6 5 ., 0 242.5 41 ,.9 18..3 1 8 2 ,. 3 249. 3 40., 1 19.. 1 1 9 0 .. 1 2 6 7 .,4 45., 0 21 , 7 2 0 0 ..7 20 21 22 23 3 0 4 4 ,.7 1 3 6 3 ..9 290, 3 3 8 5 ,.5 9 6 8 .8 36. 3 2 1 2 ,.8 2 2 3 ..7 2 3 6 .. 1 2 5 8 ..5 2 8 3 ..2 314. 2 3 4 3 .. 7 3 7 2 ..4 3 9 3 ., 7 24 4 9 2 ,.5 2 3 4 ,.5 1 2 5 ,.5 5 0 ,.3 79,.8 2..3 5 1 1 ..8 2 3 9 .. 1 133. 3 5 2 ., 1. 84. 5 2. 9 5 3 9 .. 1 246. 3 1 4 4 ., 0 54. 9 90. 8 3., 0 5 6 9 .2 258. 2 1 5 1 ..6 5 8 ..8 97. 2 3..4 604. 2 272. 9 1 6 0 .5 63. 2 1 0 4 .. 0 3. 5 659. 5 3 0 2 ., 4 1 6 6 .2 72. 8 1 1 4 .. 0 4. 2 706, 5 3 1 7 ,.2 1 6 8 ..5 8 0 ..9 1 3 0 .. 0 9 . 9 7 4 9 .2 3 3 1 .,8 172. 8 8 8 ..6 144. 7 11 .. 4 805. 2 348. 4 184. 4 98., 4 161 . 2 13.. 0 25 26 27 28 29 30 2233. 5 1 077.9 240. 9 3 6 2 ., 1 5 2 2 ..4 30. 2 31 32 33 34 35 36 Memo: 31 T o t a l r e a l e s t a t e ( 3 ) Households&nonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 36 Private finan. institutions C1) A t c u r r e n t c o s t . ( 2 ) A t y e a r - e n d or i c e s . (3) S u m of l a n d , n o n r e s i d e n t i a l 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 dollars. plant, 1226, 8 6 1 6 ,, 4 1 5 9 ..7 1 8 2 .,9 258.8 9.,0 1292. 3 647. 2 168. 7 1 9 4 .. 0 272. 2 10..3 1369. 6 678. 9 180. 8 206. 2 292. 5 11 . 2 1472. 2 7 2 8 ., 7 1 9 0 .,7 223. 6 3 1 6 ..6 12. 6 1 5 6 2 .. 0 7 7 1 ..1 2 0 1 .4 237. 2 338. 9 13. 3 1731. 7 862. 4 211 .0 268. 0 374. 6 15. 7 1892 9 9 3 3 ..3 2 1 7 ., 1 298. 4 4 2 1 .. 0 23..2 2026. 2 985. 3 224. 5 3 2 2 .,8 467. 3 26 . 3 M a r c h 9, Tangible 1994 Asset Holdings Tangible B. 12 D i s t r i b u t i o n Year-End of Tangible Assets by Sector Asset Outstandings Year-End Outstandings 1972 1973 1974 1975 1976 1977 1978 3 7 3 6 .4 1 6 6 7 .7 3 5 4 ,.2 4 9 6 .9 1 1 6 8 ,.6 49 , 0 4 3 0 4 ., 9 1887. 8 4 4 1 .2 5 7 4 ., 0 1 3 4 2 ., 1 5 9 ..7 4 9 8 3 ..6 2 1 4 6 ,,8 4 8 7 ..6 6 5 2 .. 7 1 6 2 1 ,.7 7 4 ,.8 5 5 2 2 ..6 2 3 9 1 .. 1 5 4 5 .,4 706. 2 1792. 2 8 7 ..7 6 1 4 8 ., 4 2 6 8 3 .,8 6 2 6 ..9 7 7 1 ,.9 1 9 6 5 ..9 1 0 0 .. 0 6947 , 9 3088. 3 6 9 3 ,.4 8 6 9 .. 0 2 1 8 7 .. 0 1 1 0 .. 1 8038 . 0 3 6 0 1 .3 8 1 7 ,.4 1 0 0 6 ,.5 2 4 8 5 ., 4 1 2 7 .,4 9338 4178 945 1199 2863 151 7 8 9 10 11 12 1 0 7 6 ,.4 9 0 ,.9 64..2 1 3 4 ,.6 753.3 33.4 1 2 2 3 .. 1 102, 5 72..4 1 5 4 ,. 0 853. 4 41 ,. 0 1 4 5 9 .5 1 1 6 ,.2 8 7 ,.6 1 7 9 ,.5 1 0 2 4 ,.5 .8 51 , 1 6 3 8 .. 0 1 2 5 ., 7 9 7 ., 1 1 9 6 ., 1 1 1 5 8 ., 9 6 0 ..2 1 7 8 4 ..5 134, 3 1 0 7 ..4 209. 3 1 2 6 4 ., 1 69. 3 1981 , .4 1 4 7 ,.2 1 2 0 ,.6 2 3 2 ,.5 1 4 0 4 ,.8 7 6 ,.3 2 2 5 0 .,8 167, 1 3 6 ,.6 2 6 7 ..3 1 5 9 0 ..6 8 9 ,,2 2 5 8 5 ,.6 190..9 1 5 6 .9 3 1 0 ,.5 1 8 1 9 ..8 107,.5 2 9 7 4 ,.2 2 1 5 ,.6 1 7 4 ,.5 3 5 9 ,, 7 2095, 2 129.2 P l a n t and e q u i p m e n t (1) Nonprofit institutions Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p o r a t i o n s Financial institutions 13 14 15 16 17 18 19 1 0 3 4 ,. 0 7 4 5 ,.7 17,.5 2 8 ,.3 2 2 4 ,.3 17 , .6 0.,7 1185. 2 8 5 6 .,9 20. 1 3 0 ..8 2 5 7 ..8 18. 7 0. 9 1 3 3 4 ,.8 9 6 8 ,. 9 22..3 34. 2 2 8 8 ., 4 19. 8 1. 2 1 4 6 3 ..4 1 0 6 6 ..9 2 4 .,6 3 6 ..8 3 1 3 ., 1 2 0 ..5 1 , .4 1 6 3 0 ..9 1 1 9 7 .,2 2 7 ., 1 3 9 .,7 3 4 3 ..7 21 . 6 1 .6 1 8 9 1 .2 1 3 9 8 .,4 31 ., 0 44..5 392. 3 23..7 1..4 2211 , .2 1644, 3 35.,7 5 0 .. 0 4 5 3 .,8 2 6 .. 1 1 .3 2 5 4 7 ,. 1 1 8 7 2 ,.8 41 , .2 5 5 .. 0 547 , .8 28,.9 1.,3 2 8 4 0 ., 0 2 0 6 2 .. 1 46 ..5 60. 3 6 3 8 ..4 31..5 1 .2 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 Nonprofit institutions Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p o r a t i o n s Real estate invest. trusts 20 21 22 23 2 9 6 .,6 55. 3 2 4 ., 0 217. 3 1 2 3 4 5 6 3 6 5 .. 1 7 8 ., 0 27. 3 259. 8 4 3 5 ..2 74. 3 2 9 .,6 3 3 1 .3 4 4 0 .. 0 7 5 .,5 27. 3 337. 2 475. 72. 27. 375. 3 2 9 2 5 2 1 .6 7 5 ..2 2 9 ..5 4 1 6 ..9 605. 3 9 2 ., 1 32. 6 480. 6 1979 Holdings ^ -j .5 . 7 .5 .4 .9 . 0 , 702, 6 97.,9 35..5 5 6 9 ..2 1980 1 0 6 1 8 .4 4703 . 0 1 0 4 3 ,.4 1 4 1 1 ,. 1 3 2 7 8 .. 7 182..2 784. 2 104. 9 35. 3 6 4 4 .. 0 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonproflt insts. Farm business Nonfarm noncorp. business Nonfinaneial corporations Financial institutions I n v e n t o r i e s (2) Farm business Nonfarm noncorp . business Nonfinancial corporations 24 424. 7 4 7 0 .5 595. 7 652. 8 725. 5 815. 2 9 2 4 ..4 1014. 3 Consumer 25 26 27 28 29 30 904. 6 3 8 8 ., 9 2 0 6 ..4 1 1 4 ., 0 1 8 0 ., 4 14.,9 1061 .0 437. 9 260. 1 1 3 5 ., 0 210. 3 17. 8 1 2 0 9 .,9 4 9 5 ..2 2 9 1 ..5 1 5 5 .,3 246. 2 21 .,8 1385. 4 578. 2 335 9 169. 7 275. 5 2 6 ., 0 1 6 0 5 .. 0 672. 4 407. 6 190. 9 305. 0 29. 1 1 8 2 8 .. 1 786. 2 453. 2 214. 8 3 4 1 .6 32. 4 2155. 5 9 3 9 ., 1 538. 7 252. 7 388. 2 36. 9 2 5 7 8 ..9 1149. 3 6 3 5 ..7 3 0 5 .,6 4 4 6 .. 0 42. 2 3005. 6 1364. 4 703. 8 3 7 7 .7 5 0 8 .. 0 51 .8 L a n d at m a r k e t v a l u e H o u s e h o l d s S n o n p r o f l t insts. Farm business N o n f a r m n o n e or a. b u s i n e s s Nonfinancial corporations Financial institutions 31 32 33 34 35 36 2 5 5 6 .. 1 1 2 3 6 .,1 268. 7 423. 3 5 9 3 ., 0 34. 9 2 9 5 5 ,. 7 1 4 0 9 ..9 3 2 9 ..2 491 , .5 6 8 4 .5 40,.6 3367, 6 1 5 9 3 .,7 369. 5 5 5 6 ..7 799. 9 47, 9 3 7 5 4 ,.6 1785. 6 4 2 1 ,, 0 6 0 5 ..5 8 8 8 ,. 0 5 4 ,.4 4213, 5 2 0 2 0 ..6 4 9 9 ,.8 6 6 4 ..6 969. 2 59, 3 4 7 9 8 ..6 2 3 5 1 ..6 5 5 6 .,5 7 5 1 .. 0 1 0 7 4 .. 7 64. 8 5591. 2 2 7 7 2 ..4 6 5 6 ..0 . 0 871 , 1 2 1 8 ..7 73..2 6 5 3 1 ,6 3 2 3 7 ..5 767, 8 1 0 4 1 .,0 1400. 6 8 4 .,7 7458.2 3667.9 850. 1 1234.3 1604.5 101.4 T o t a l r e a l e s t a t e (3) H o u s e h o l d s S n o n p r o f l t insts. Farm business Nonfarm noncorp. business N o n f a r m n o n f in . c o r p o r a t i o n s Private finan. institutions 5 4 4 ..2 durables (households) (1) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . (3) S u m of l a n d , n o n r e s i d e n t i a l 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 dollars. plant, Tangible Asset Holdings Tangible ^ g Year-End B.12 Distribution of T a n g i b l e Assets Asset Year-End Outstandings 1981 1982 1983 Holdings by S e c t o r Outstandings 1984 1985 1986 1987 1988 1989 11619. 6 5096. 5 1047. 1 1587. 9 3674. 5 213. 7 12179. 4 5358. 5 1015.6 1703. 3 386 0. 4 241 .6 12756. 0 5672. 8 1022. 6 1812. 3 3979. 7 268. 7 13568. 3 6160. 0 920. 6 1973. 6 4215. 7 298. 3 14340. 5 6603. 2 830. 6 2170. 5 4399. 3 336. 8 15136. 2 7 1 0 0. 4 774. 8 2329. 0 4546. 4 385. 6 1 6 1 3 1 .,4 7656. 1 816. 7 2472. 0 4750. 4 436. 2 17097. 2 8102. 8 840. 9 2605. 7 5055. 7 492. 1 18235.9 8708.6 865.0 2776.5 5330.7 555.2 1 2 3 4 5 6 7 P l a n t and e q u i p m e n t (1) Nonprofit institutions 8 Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corporations 11 Financial institutions 12 3363. 3 237. 8 186. 9 415. 3 2370. 4 152. 9 3589. 0 256. 0 188. 4 444. 9 2526. 9 172. 8 3707 .1 273. 4 187. 3 459. 6 2595. 7 191. 1 3899. 4 290. 9 184. 0 490. 2 2717. 7 216. 6 4112. 7 308. 1 178. 5 528. 3 2853. 6 244. 1 4322. 2 327. 8 174.2 565. 5 2974. 8 279. 9 4515. 9 349. 9 170. 7 600. 8 3 0 8 0 ..0 314. 6 4810. 3 376. 9 167. 9 649. 2 3259. 7 356. 6 5084.2 403.6 169.1 692.2 3416.7 402.6 7 8 9 10 11 12 13 R e s i d e n t i a l s t r u c t u r e s CI) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corporations 18 Real estate invest. trusts 19 3049. 6 2193. 3 50., 0 63..4 708. 7 33.. 0 1. 2 3148. 3 2265. 7 51 .6 64. 3 731 ..8 33, 7 1 .2 3279, 9 2368. 3 53. 3 64. 5 758, 1 34. 5 1., 1 3448. 6 2496. 8 55. 5 65. 0 794. 6 35. 5 1 .3 3639. 1 2 6 3 4 ..1 58, 4 65. 5 842. 6 36. 8 1. 7 3 9 0 2 ., 1 2840. 6 61 . 9 66..8 892. 3 38. 2 2..3 4213. 2 3 0 8 1 .8 66. 3 69. 3 9 5 3 ., 0 40.,0 2..9 4298. 0 3156. 5 66. 9 68. 1 963. 5 39. 6 3.,4 4566.1 3370.3 70.2 70.2 1010.7 40.6 4.2 13 14 15 16 17 18 19 827. 6 103. 2 34. 4 690., 0 898. 8 100. 9 37. 4 760, 5 904. 3 96. 6 39. 6 768..1 8 8 7 ..8 90,.5 38,.4 758..9 950,.6 90,.9 4 2 .0 8 1 7 .7 1023. 8 95. 4 45..3 8 8 3 .. 1 1081.6 96.3 49.3 936. 0 20 21 22 23 1391 ,. 1 1 5 2 7 .5 1659..5 1808.. 4 1929.6 24 5 1 5 6 ,.8 2694,.1 509..5 947,.8 8 7 3 .3 132 . 1 5574.4 2934.9 529.4 1024.4 937.4 148. 4 25 26 27 28 29 30 12922.0 6717.7 704.3 2450.0 2743.4 306.6 31 32 33 34 35 36 1 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. 2 Farm business 3 Nonfarm noncorp . business 4 Nonfinaneial corporations 5 Financial Institutions 6 20 21 22 23 8 3 6 .. 1 101..4 34. 3 699.. 9 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p o r a t i o n s 24 C o n s u m e r durables (households) 25 L a n d at m a r k e t v a l u e H o u s e h o l d s & n o n p r o f it i n s t s . 26 Farm business 27 Nonfarm noncorp. business 28 Nonfinancial corporations 29 Financial institutions 30 1086..2 8 1 7 ..1 103..6 34.. 1 679..4 1133..7 1193..8 1281, 5 3284,.4 1529..2 695..4 429 . 1 571 .2 59 . 6 3491 ,.3 1651 . .5 659 .3 4 9 2 .5 620..4 67..6 3 7 4 7 ,.6 1784,. 0 667..6 560..2 659..4 76.. 4 4 0 4 0 .. 0 2035. 4 570, 8 651..5 701.9 8 0 .. 4 8 1 5 5 .5 3985.8 8 5 1 .7 1 3 9 0 .5 1809 .7 118 . 0 8 5 8 8 .9 4197 . 1 819 . 1 1495.3 1942 . 1 135 .3 9044 4448 829 1595 2019 151 9619 4845 735 1740 2133 165 4293, 3 2 2 1 1 ..5 4 9 0 ,.1 759,.9 740..8 . 0 91 , 4496 2342 443 832 774 103 .6 . 7 .3 . 7 .5 . 4 10749 5531 613 2062 2327 215 . 0 .3 . 0 .7 . 0 . 0 4 7 9 2 ,.2 2498,.6 485,.9 8 7 6 .3 8 1 2 .7 1 1 8 .7 Memo: 31 T o t a l r e a l e s t a t e (3) H o u s e h o l d s & n o n p r o f it i n s t s . 32 Farm business 33 Nonfarm noncorp. business 34 N o n f a r m n o n f in. c o r p o r a t i o n s 35 Private finan. institutions 36 (1) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . (3) S u m of l a n d , n o n r e s i d e n t i a l 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. plant, .4 .4 .3 .6 .2 .8 .5 . 1 . 0 .5 .4 .5 10190 5175 657 1920 2248 188 .2 . 1 .0 .8 .4 .9 11464 5949 658 2188 2423 244 .7 .4 .6 .9 . 0 .7 12087 6240 682 2300 2591 272 .2 .6 .2 .5 .6 .3 M a r c h 9, 1 9 9 4 Tangible Asset Tangible Holdings B.12 Distribution Year-End of Tangible Assets Asset Holdings 19 by S e c t o r Year-End Outstandings Outstandings 1993 1990 1991 1992 1 2 3 4 5 6 18233. 1 8738. 3 872. 9 2719. 5 5325. 8 576. 6 18382. 9 9248. 3 860. 4 2 6 1 9 .6 5 0 6 1 .9 592. 7 18343. 6 9534. 1 373. 7 251 1 .9 4816. 2 607 .7 18744. 9 9905. 1 884. 2 2455. 4 4874. 4 625. 7 7 8 9 10 11 12 5320. 7 427. 1 169. 3 718. 3 3 5 6 7. 0 439. 0 5440. 2 445. 1 166. 4 722. 5 3644. 5 461 . 7 5534. 3 468. 5 161 . 3 720. 7 3704. 4 479.4 5544. 2 476. 0 153. 9 666. 2 3748. 8 499. 4 P l a n t and e q u i p m e n t (1) Nonprofit institutions Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r o o r a t i o n s Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 19 4795. 8 356 0. 1 72. 9 72. 4 1044. 4 41 . 2 4. 7 4972. 1 3713. 5 73. 9 74. 0 1064. 1 41 .3 5. 4 5190. 6 3895. 5 75. 6 74. 8 1 097.1 41 .6 6. 0 5499. 2 4147. 7 78. 6 77. 5 1148. 4 40 .8 6. 2 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 Nonprofit institutions Farm business Nonfarm noncorp . business N o n f i n a n e ial c o r p o r a t i o n s Real estate invest. trusts 13 14 15 16 17 18 19 20 21 22 23 1110. 4 94. 7 50. 8 964. 9 1 0 8 3 .,4 90.,7 49. 6 9 4 3 .. 1 1 099. 0 95. 1 50. 2 953. 7 1133. 4 91 . 9 5 2 .. 1 9 8 9 ., 4 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonfinaneial corporations 20 21 22 23 24 2 0 4 7 .. 1 2 1 4 1 ..9 2 2 3 2 ..1 2 3 3 8 ., 0 Consumer 24 25 26 27 28 29 30 4 9 5 9 .. 1 2 6 3 1 .. 1 5 3 6 ..5 906.. 0 7 5 2 .6 132..9 4 7 4 5 ..3 2 8 7 4 ,. 0 5 2 9 ,.4 783,. 3 433 . 1 1 2 5 .5 4 2 8 7 ,, 6 2 8 6 2 ., 4 5 4 2 .,5 643. 9 116..5 122.,4 4 2 3 0 ., 0 2 8 6 4 ,,8 5 6 1 .. 0 5 8 8 .. 7 95..5 120.. 1 L a n d at m a r k e t v a l u e H o u s e h o l d s S n o n p r o f i t insts. Farm business Nonfarm noncorp . business N o n f inane ial c o r p o r a t i o n s Financial institutions 25 26 27 28 29 30 31 32 33 34 35 36 1 2 6 5 4 ,. 4 6 6 2 2 .9 713 . 0 2 3 8 3 .4 2628 . 1 307 . 0 1 2 6 7 3 .. 1 7031 .6 7 0 5 .2 2 2 8 2 .9 2342 . 0 311 . 4 1 2 4 9 7 ,. 7 7 2 1 9 ,.6 717.. 3 2 1 7 7 ,. 0 2 0 6 6 .5 3 1 7 .3 12717 . 0 7 4 7 9 .2 733.. 3 2 1 6 0 .7 2025 . 9 318 . 0 T o t a l r e a l e s t a t e (3) H o u s e h o l d s S n o n p r o f i t insts. Farm business Nonfarm noncorp. business N o n f a r m n o n f in. c o r p o r a t i o n s Private finan. institutions 31 32 33 34 35 36 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 s S n o n p r o f i t insts. Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p o r a t i o n s Financial institutions durables (households) (1) At c u r r e n t c o s t . (2) At y e a r - e n d p r i c e s . (3) S u m of l a n d , n o n r e s i d e n t i a l 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 plant, 1 2 3 4 5 6 March 9, 1994 Household Sector Household 2 q Year-End B.100 assets Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 9 10 11 Land O w n e r - o c c u p l e d (2) Nonprofit institutions 12 T o t a l 13 14 15 16 17 financial assets D e p o s i t s 8 cr. mkt. instr. Checkable deposits & curr. Small time 8 savings dep. Large time deposits M o n e y m a r k e t fund s h a r e s 18 19 20 21 22 Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 23 24 25 26 Tax-exempt securities Corporate 8 fgn. bonds Mortgages Open market paper 27 28 M u t u a l fund shares Corporate equities 29 30 31 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 32 Equity Security credit Miscellaneous assets 35 Total noncorp. bus. (3) liabilities Bank loans n . e . c . Other loans 44 45 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 46 47 in Credit market instruments Home mortgages Installment cons, credit Other consumer credit T a x - e x e m p t debt Other mortgages 42 43 Net the Household Sector 1947 7 2 9 .3 7 9 1 .9 8 7 6 .5 926 . 1 971 . 1 1 9 2 .3 2 2 0 .1 2 6 0 .7 2 9 4 .7 3 2 3 .5 126 73 70 3 6 46 150 88 85 3 8 53 184. 0 1 08 .8 1 0 4 .5 4 .3 10 . 0 65 . 1 211 124 119 4 10 76 232 134 130 4 11 86 .2 .5 .2 .3 .4 .2 .3 .9 . 1 .8 .2 .2 6 6 .1 6 2 .4 3 .8 6 9 .8 6 4 .5 5 .2 5 3 7 .0 5 7 1 .8 6 1 5 .8 194 53 49 0 204 57 56 0 208 57 59 0 . 1 .0 .8 .4 .5 .9 . 1 .4 76 .7 7 0 .9 5 .8 1948 .2 . 1 .6 .5 .9 .3 8 3 .4 77 . 4 6 .0 1949 .4 .6 . 0 .6 .3 .6 91 .0 8 4 .7 6 .4 ' Outstandings 1950 1951 1952 1953 1 0 8 9 .4 1 1 9 5 .6 1262.2 1 3 1 1 .8 1 3 7 3 .1 4 1 9 .1 455.2 4 8 6 .3 2 276 . 0 1 5 4 .9 150 . 0 4 .8 13.0 1 0 8 .2 313 173 168 5 14 124 . 0 .8 .8 .0 .8 .4 337.2 187.4 182.3 5.1 15.8 134.0 358 199 194 5 16 143 .8 . 3 . 2 . 1 .5 . 0 3 4 5 6 7 8 106 . 1 98 . 0 8 . 0 118. 0 109.3 8.7 1 2 7 .5 1 1 8 .4 9. 1 9 10 11 807 . 0 8 2 5 .5 12 246.3 62.1 78.9 0.7 2 6 0 .6 6 3 .2 87 . 0 0..8 13 14 15 16 17 109,.6 6 8 .2 4 9 .4 18..7 0, 2 18 19 20 21 22 97 . 1 8 9 .7 7. 4 6 3 1 .4 6 4 7 .6 7 1 6 .3 7 7 6 .5 . 9 .8 .6 .5 211 . 1 55 . 4 61 .8 0,.5 2 1 2 .8 53.5 6 4 .4 0..6 219 56 66 0 228 60 71 0 . 0 . 0 .8 .5 .9 .1 .6 . 7 90 , .8 66 .4 42,.9 23.6 -•, 1 90 . 0 6 4 .9 44,.2 21 . 0 2 91 . 1 64.8 46,.2 18..8 3 93.. 4 65,.6 47..8 18., 0 -•.2 94,.3 67..0 49. 3 18.. 0 -•. 2 95 . 7 66 . 1 49 . .6 16..9 .4 96 .6 65..2 49 . 1 16..3 .2 104.6 ' 67.4 49.2 18.2 3..9 8..4 12. 2 0., 1 3 .8 7 .5 13..7 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 6.. 0 17..5 0. 5 5..7 6..3 18..4 0. 9 11.0 6.0 19.1 1.2 13.,9 6.. 0 2 0 .. 1 1 .5 . 23 24 25 26 1..3 101 . 3 1 . 4 98. 8 1 .5 97 .5 3., 1 1 0 5 .. 0 3. 3 1 2 8 .. 7 3.9 152.4 4.. 1 1 4 6 .. 1 27 28 46 .5 15. 8 49. 4 18. 2 5 2 .. 1 2 1 .. 1 5 5 .. 0 24. 3 39. 6 12. 3 43., 4 13. 5 173. 4 2 0 0 .. 1 0. 7 6. 3 0. 7 7.. 1 2 3 6 .. 1 3. 5 1 5 1 .. 1 " 57. 3 2 7 ,.8 60.7 33.4 6 3 .,6 38..4 29 30 31 245. 1 244. 6 276. 3 297. 3 299.6 301. 2 32 0. 7 7. 6 0. 7 8. 0 0. 7 8. 4 1 .0 . 8. 7 0. 9 9. 3 0.7 10.0 0. 7 10. 6 33 34 30. 0 36. 4 44. 9 53. 2 61. 5 74. 0 82. 6 94.5 107. 2 35 27. 6 18. 0 2. 6 4. 2 34. 4 21 . 9 4. 4 5. 3 42. 8 26. 6 7. 1 6. 1 51. 0 31 . 2 9. 5 6. 8 58. 35. 12. 7. 7 3 2 1 70. 6 41 . 7 15. 5 8. 4 79. 48. 16. 9. 1 0 2 1 90.8 54.2 20.5 10.1 102. 9 61 . 4 24. 3 10. 4 0. 5 0. 6 0. 8 1 .1 1 .5 2. 0 2. 5 3.0 3. 4 36 37 38 39 40 41 0. 3 2. 1 0. 1 2. 0 2. 1 0. 1 2. 2 0. 2 2. 4 0. 3 2. 6 0. 5 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 .2 44 45 0. 6 0. 7 0. 8 0. 8 0. 9 1. 0 1. 1 1.2 1 .3 46 699. 4 755. 5 8 3 1 .6 872. 9 909. 6 1015. 4 1112. 9 1167.6 1204. 5 47 life worth Sector (1) 1946 1 .3 109. 5 33 34 36 37 38 39 40 41 of Year-End assets 2 Tangible 3 4 5 6 7 8 Sheet Outstandings 1945 1 Total Balance Memo: 48 O w n e r - o c c . r e a l e s t a t e (4) H o m e m o r t g a g e s a s p e r c e n t of 49 owner-occ. real estate 50 Nonprofit real estate (5) 132. 5 149. 6 175. 5 197. 1 214. 7 239. 7 266. 8 2 9 1 .6 312. 6 48 13.5% 14.6% 15.1% 15.8% 16 . 4 % 1 7. 4 % 17.9% 18.5% 19.6% 49 13. 2 16. 8 19. 5 20. 6 21. 4 24. 1 26. 6 28.2 29. 0 50 (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) 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 . (4) L i n e s 5 • 10. (5) 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. March 9, 1994 Household Sector Household 1 B. 100 B a l a n c e Sheet of the Household Sector (1) Vear-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 1954 1955 1956 1430 .0 1560 .4 1669 .5 2 514 .4 557..9 603 . 2 3 4 5 6 7 8 379..6 214..9 209..7 5. 2 17.6 147.. 1 413.4 236..5 231 . 1 5..4 19..6 157..3 447 253 248 5 22 171 9 10 11 134..9 125..7 9 .2 144..5 133 .8 10..7 1 002..5 1 Sector 2 ^ 1957 1958 1959 1960 1961 1962 1881 .5 1985..5 2048 .8 2232 .9 2249,.8 634..3 664 . 1 699.. 1 730 . 0 761 .2 794,.5 466..9 267,. 1 261..5 5..6 23 .7 176..2 486 279 273 5 25 182 512. 2 296.,6 290.,5 6,. 0 26..6 189.. 0 533 .7 311 .9 305 .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 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing Nonprofit institutions N o n p r o f i t plant 8 equip. C o n s u m e r durables 155 .3 143 .5 11 .8 167..4 154..8 12,.6 178 .0 165 .4 12 .6 187..0 173..8 13..1 196 .3 182 .6 13 .8 208..7 193,. 7 15,. 0 219. 7 203. 7 16.,0 Land O w n e r - o c c u p i e d (2) N o n p r o f i t institutions 1066 .3 1318 .8 .9 . 9 .4 .5 .1 .9 1704.. 1 .2 .2 .4 .8 .0 . 0 Total assets Tangible 1 assets 2 3 4 5 6 7 8 9 10 11 12 915..6 1069,.7 1217 .4 1286. 4 13 14 15 16 17 271 . 4 65.. 0 96.. 1 0,.8 288 .9 65 .9 104..7 0.8 307 . 1 67 .6 114 . 1 0. 7 324 3 66..5 125..9 0,.6 341 .5 68 .6 139 .4 0 .8 365. 9 71. 5 150..8 0. 6 387 .7 73 .2 162 . 0 1 .4 408..4 71 . .8 179,.5 2..1 437.. 0 71 .3 204. 7 2. 8 18 19 20 21 22 109..5 66. 2 50.. 0 16.. 1 0..1 117 .5 69 .4 50..2 18..6 0..6 124 .8 71 .2 50 . 1 20 . 1 1 .0 , 131,.8 73..0 48..2 23. 3 1 .5 132 .6 69 .5 47 .7 20 .9 0 .8 142. 9 73. 9 45. 9 25. 7 2. 3 151 . 1 73 .2 45 .6 26 .6 1. 0 155..1 72..5 46..4 25,.5 0..6 158. 3 74. 0 47. 0 26 .8 0. 2 23 24 25 26 16.. 0 4,.9 21 . .2 1. 2 19..2 5.. 0 22 .5 1 .5 . 21 .9 6. 1 24 . 1 1 .6 , 28. 4 8. 2 30. 7 1 .a 31 . 0 10..6 33 .4 2 .8 32. 5 10,.8 36..7 2. 5 32. 1 10. 2 38.8 3. 3 27 28 6.. 1 212. 8 7..8 260.. 4 9. 0 279 . 4 8. 7 245. 6 13..2 344 .8 15. a 569. 6 17 .0 364 .5 22.,9 464. 9 20. 9 402. 1 M u t u a l fund shares C o r p o r a t e equities 29 30 31 66. 3 43.,8 69. 3 51 . .8 72.7 58 . 1 75..5 64..4 78..5 74..8 82. 0 84, a 85..2 93 .6 88. 6 106,.9 92. 4 113. 4 Life insurance reserves 29 Pension fund reserves 30 Inv. in bank personal trusts 31 32 303..3 327 .4 337.. 7 351 . 1 354. 5 356..4 365..0 374. 1 Equity 0 .9 11 .7 0. 9 12.. 0 1 .2 13. 8 1. 2 14. 3 33 34 1 .. 0 10..9 312.. 0 0..9 11 .4 . 23. 9 7. 2 26.. 0 1 .a 24 .6 7 .9 28..6 2. 0 1 .2 . 12..3 1, .0 12. 8 1 .. 1 13..3 1471..7 1455. 3 Total financial assets Credit market instruments U.S. govt, s e c u r i t i e s S a v i n g s bonds Other Treasury issues Agency issues Tax-exempt securities C o r p o r a t e & fgn. bonds Mortgages Open market paper in n o n c o r p . bus. 35 118..9 138..6 154..6 167.. 0 179.. 0 201 .6 219..9 237. 6 259. 2 113.. 6 70.. 1 24. 9 11 . 1 132.. 7 82.. 1 30. 3 12.. 7 148 .3 92 .8 33 .2 13..4 160.,8 101 .3 35..4 13..8 171 . .5 110..5 35. 3 14..2 193. 5 123. 1 41. 1 16. 1 211..7 133,.9 45.. 1 16..2 228.. 0 145. 6 46., 0 17. 4 249. 5 159. 0 51 .0 18. 4 4.. 0 4..6 5 .3 6.. 0 6..8 7. 6 8..4 9. 3 42 43 0.. 1 3..4 . 6 3..6 .3 3. 9 . 1 4. 4 . 1 4,.8 0. 2 5. 4 1..9 6..3 2. 6 7. 0 3. 1 7. 7 Bank loans n.e.c. Other loans 44 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 S e c u r i t y credit Trade credit D e f e r r e d and unpaid insurance premiums 1 .3 1..5 47 1311 .2 1421..7 1.. 7 1515..0 I. a 1537., 0 Total 2..0 2. 2 2..4 2. 5 2. 7 1702..5 1784. 0 1828.,9 1995. 3 1990. 6 (3) 18 19 20 21 22 23 24 25 26 32 33 34 liabilities 35 Credit market instruments Home m o r t g a g e s Installment cons, credit Other consumer credit T a x - e x e m p t debt Other m o r t g a g e s 10. 3 13 14 15 16 17 27 28 S e c u r i t y credit M i s c e l l a n e o u s assets 36 37 38 39 40 41 46 12 D e p o s i t s & o r . mkt. instr. C h e c k a b l e deposits 8 curr. Small time 8 savings dep. Large time deposits Money market fund shares 36 37 38 39 40 41 42 43 44 45 life 46 Net worth 47 Memo: 48 335..4 364,.8 391,.9 416. 3 438..8 464. 4 488. 2 512..5 535. 9 49 20.9% 22.5% 23.6% 24.3% 25.1% 26.5% 27 . 4% 28.4% 29.6% 39. 3 40..6 42. 7 45. 0 48. 6 52. 7 50 30.. 1 33,.7 37 . 1 O w n e r - o c c . real estate (4) Home m o r t g a g e s as percent of o w n e r - o c c . real estate Nonprofit real estate (5) (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) 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 u n i n c o r p o r a t e d security brokers and d e a l e r s . (4) Lines 5 * 10. (5) 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 d o l l a r s . 48 49 50 M a r c h 9, 1 9 9 4 Household Sector Household 2 2 Year-End of the Household 1965 1966 1967 1968 1969 1970 1971 2 4 2 3 .2 3 2 1 7 .5 3 5 9 7 .5 3669 . 9 3835 . 9 4224. 9 1 1059 . 4 1182 . 0 1 2 8 2 .8 1363.. 9 1 4 7 8 ., 1 2 .5 . 4 .3 .2 .4 . 7 1 0 3 2 .0 588 . 1 5 7 4 ..4 13.. 7 71,.5 3 7 2 .4 1129. 8 655. 3 640. 4 14. 9 80. 8 393. 7 3 4 5 6 7 8 3 0 2 .4 2 7 2 .5 2 9 .9 3 1 7 .2 282 . 4 3 4 .8 3 3 1 .8 293 . 0 3 8 .8 348. 4 305. 3 43. 1 9 10 11 2 9 0 5 .6 9 1 9 ,.2 9 9 1 .8 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit Plant 8 equip. Consumer durables 598 349 342 7 35 212 635 373 365 8 38 223 672 394 385 9 42 236 Land O w n e r - o c c u p l e d (2) Nonprofit institutions 2 3 4 .5 2 1 6 .8 17 .7 assets financial Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues Tax-exempt securities C o r p o r a t e 8 fgn. bonds Mortgages Open market paper 23 24 25 26 .5 .9 . 4 .5 .8 .8 .9 .4 . 1 .3 .8 .7 239 . 1 2 1 9 .6 19 .5 2 4 6 ..3 2 2 4 .6 21 , .8 786 452 441 10 50 283 2 5 8 .2 2 3 4 .2 24 . 0 2 7 2 .9 2 4 6 .4 26 .5 879 508 496 12 57 314 . 7 .3 .2 . 0 .2 .2 965 557 544 13 64 343 2 4 1 5 .4 2387 . 1 2472 . 0 2746. 7 12 587 91 298 6 .5 . 0 . 7 .9 6 38 101 332 8 . 1 .2 . 3 . 1 6 8 8 .3 110,.5 3 5 8 ,.5 12,.3 7 0 7 .2 108 . 0 3 7 3 .5 4,.5 754 . 7 115,.3 401 3 17 .8 820. 1 128. 6 465.5 17. 7 13 14 15 16 17 . 0 .9 . 1 .8 -•. 1 166,.3 7 3 .8 49 . 1 2 4 .5 0,.2 170,. 4 75,. 9 49 .7 25,. 1 1. 1 191 84 50 28 5 . 0 .9 .2 .8 .9 196 85 51 27 6 .5 .2 .2 .7 .3 207 87 51 29 6 . 0 .8 .9 .8 . 1 221 97 51 37 8 2 2 0 ,.3 91 . 0 52 . 1 26 .5 12,.4 208. 2 81 .5 54. 4 15. 8 11 .4 18 19 20 21 22 32 . 1 10,.1 4 0 .3 4,.6 34,. 9 10 .3 41 . 7 5 .6 3 8 .2 16 .3 46 . 0 1 0 .8 3 6 .5 21 .4 48 . 4 13,. 0 37 21 48 16 . 3 .5 .7 . 1 36 .3 29 . 6 49 .6 13,. 9 32. 8 36. 9 46. 7 10. 3 23 24 25 26 36 .5 9 .2 4 2 .2 6,.6 1 9 1 3 .7 .5 . 4 .8 .7 .9 .2 5 4 5 ,.7 88.. 6 2 8 0 ..8 6.. 0 160 72 48 24 1 9 0 0 ,. 1 7 3 3 .7 4 2 7 .7 417 . 7 10 . 0 4 7 .5 258.5 5 0 7 .6 82 . 0 2 5 4 .5 4,.7 469 75 229 3 1 7 3 8 .6 .9 . 0 . 0 . 0 .8 .1 . 1 .8 .7 .7 1 5 9 0 .2 assets D e p o s i t s 8 or. m k t . instr. Checkable deposits 8 curr. Small time 8 savings dep. Large time deposits M o n e y m a r k e t fund shares Outstandings 1964 2 8 1 9 .3 assets Sector (1) 1963 8 7 4 .9 18 19 20 21 22 Sector Year-End 2 6 1 3 .5 12 T o t a l 13 14 15 16 17 Sheet Outstandings 2 Tangible 9 10 11 Balance 833 . 0 1 Total 3 4 5 6 7 a B.100 41 , . 2 .9 11 . 44,.2 8,.8 2158 . 1 .2 .6 .8 .6 .2 27 28 M u t u a l fund s h a r e s Corporate equities 2 4 .8 4 7 2 ,.5 28 . 4 5 4 3 .8 34,. 4 6 1 5 ., 4 3 3 .9 5 4 7 ,.8 43 . 0 681 . 2 49 .5 814 . 3 41 .5 614 . 0 40 . 4 598 . 2 48. 1 682. 0 27 28 29 30 31 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 96..6 1 2 7 ,.5 101 , . 1 144 . 3 1 0 5 ,-9 161 ,. 3 110,.6 .8 171 , 115.5 194 . 9 120..3 2 1 7 ,.8 125 . 4 230 . 0 116,. 0 130,. 7 252 . 7 118,.5 137. 1 292. 1 141 . 1 29 30 31 32 Equity 3 8 3 ..6 396 . 1 4 1 7 ,.8 .3 441 , 4 6 0 .6 4 9 6 .5 524 . 1 5 4 6 .2 592. 8 32 33 34 Security credit Miscellaneous assets 1 .2 . 14..8 1 ., 7 15..7 4. 9 28. 7 33 34 35 Total in noncorp. bus. (3) liabilities Credit market instruments Home mortgages Installment cons, credit Other consumer credit Tax-exempt debt Other mortgages 36 37 38 39 40 41 42 43 Bank loans n.e.c. Other loans 44 45 Security credit Trade credit D e f e r r e d and unpaid insurance premiums 46 47 Net 2..5 17,, 0 2. 7 18,.2 4,.9 19 .8 7,. 0 .6 21 , 5 . 2 2 3 .8 4. 4 26 .3 2 8 7 .4 316 . 2 3 4 5 .. 1 3 6 8 ,. 0 3 9 2 .3 4 2 5 .5 4 5 3 .2 4 7 1 .9 517. 9 35 2 7 5 ..6 174..6 5 7 .8 20.. 0 3 0 4 ..4 190,.3 65,.6 .8 21 , 332 3 207 . 0 73..9 23..6 3 5 4 ,.5 2 1 9 ,.5 79, 3 24,. 1 3 7 4 ,.9 2 3 1 .9 83.. 1 25 . 4 4 0 4 ..5 2 4 7 .. 0 .7 91 , 2 7 .6 434 262 101 28 .5 . 3 .2 . 1 4 5 3 .. 4 2 7 3 ..6 105,.5 28, 3 495. 296. 118. 31. 11..3 12,.3 13,.4 14,.6 15..6 16.. 7 17 . 9 19.. 0 20. 3 36 37 38 39 40 41 3.5 8 .4 4..8 9 .2 4., 4 1 0 .. 0 5,. 1 .9 11 . 5 .5 13,.3 6 .2 15..3 6 .8 18..3 6 . 1 20 . 9 7. 3 22. 3 42 43 6 . 0 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.. 7 5 . 1 5. 4 46 3 1 7 2 ,. 0 3216 . 7 3 3 6 4 .. 0 3706. 9 47 48 7 5 3 2 life worth 2 1 3 5 ,.8 2 2 9 7 ..3 5 5 9 ..2 5 8 4 .6 31 . 2 % 32.6% 5 7 .2 6 2 .6 4,.3 2 5 3 7 .6 2 8 2 5 .2 6 0 9 ,.6 6 5 1 ..9 6 8 8 .2 7 6 8 .7 8 2 6 .7 867 . 4 945. 7 33.9% 33.6% 33.7% 32. 1 1% 31 . 7 % 31 . 5 % 31 .3% 49 69,.3 76..8 8 3 .0 93,.7 1 0 6 .6 1 1 7 .8 132. 3 50 2 4 7 4 ,, 2 Memo: 48 O w n e r - o c c . r e a l e s t a t e (4) 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 49 50 Nonprofit real estate (5) (1) H o u s e h o l d s a n d 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) 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 . (4) L i n e s 5 + 10. (5) 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. M a r c h 9, 1994 Household Sector Household B.100 Year-End Balance Sheet of the Household Sector (1) Outstandings 1972 Year-End 1973 1974 1975 1976 1977 1978 1979 Sector 2 ^ Outstandings 1980 1 4734 . 0 4 9 8 2 ..0 5 1 9 3 ..4 5 8 7 5 ..8 6 7 2 2 .4 7 3 5 9 .. 0 8 3 8 6 .8 9 6 8 3 .7 2 1667 , .7 1 8 8 7 ..8 2 1 4 6 ..8 2391 . 1 2 6 8 3 .8 3 0 8 8 ..3 3601 . 3 4178 . 7 4703 . 0 3 4 5 6 7 8 1 2 7 8 ..8 763. 2 7 4 5 .. 7 17..5 90.,9 4 2 4 .. 7 1 4 4 9 ..9 8 7 6 ..9 856 . 9 20.. 1 1 0 2 ..5 4 7 0 ..5 1 6 5 1 ..6 991, 2 9 6 8 ..9 2 2 ,.3 116.2 5 4 4 ,.2 1 8 1 2 .9 1091 . .5 1066 . 9 2 4 .6 1 2 5 ,.7 5 9 5 ,. 7 2011 , .4 1 2 2 4 ,.3 1 1 9 7 ..2 2 7 .1 134..3 6 5 2 .8 2 3 0 2 ..1 1 4 2 9 ..4 1398 . 4 31 . 0 147..2 7 2 5 ..5 2 6 6 2 .2 1 6 8 0 .. 0 1 6 4 4 ..3 35..7 167.. 1 8 1 5 .2 3029 1914 1872 41 190 924 . 4 . 1 .8 .2 .9 . 4 3 3 3 8 ,.6 2108 . 7 2062 . 1 46 .5 215 . 6 1 0 1 4 ..3 Reproducible assets Residential structures Owner-occupled housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 9 10 11 3 8 8 ..9 3 3 9 ..8 4 9 ,. 1 4 3 7 ..9 3 7 8 .. 0 5 9 ..8 4 9 5 ,.2 4 2 6 .3 6 8 ,.9 5 7 8 .2 5 0 5 .2 73 . 0 6 7 2 .4 5 9 3 ..2 79..2 7 8 6 ..2 6 9 6 .2 89..9 1 1 4 9 .3 1324 . 4 1 2 4 .9 1364 . 4 1 2 2 7 .3 137 . 1 Land O w n e r - o c c u p i e d (2) Nonprofit institutions 3 0 4 6 ,.6 3484 . 7 4 0 3 8 .6 4 2 7 0 ..7 4 7 8 5 ..5 5505 . 0 6 3 9 8 .5 1 0 9 3 ..6 1 5 4 .6 601 . .5 6 8 .2 2 .4 1191 160 695 53 3 1 3 1 5 .. 9 173..8 8 0 8 .3 4 3 .5 3 . 7 1457 . 9 190,.9 898 . 1 56..6 3 .3 1630 . 0 2 1 5 .. 0 9 5 9 .9 9 4 .7 9 . 0 1839 247 1012 110 39 .3 . 7 .5 .8 . 0 2039 258 1088 152 63 . 6 .6 . 2 .9 . 0 .7 .6 . 0 .3 .2 3 0 8 .. 9 115..4 76 .8 36 .1 2 .6 .3 351 , 130..5 80 , .7 38 . 2 11 . 6 429 186 79 81 25 .3 .6 .9 . 1 . 6 476 216 72 109 34 . 9 .8 .5 .8 . 4 54.0 72 . 0 57 . 0 - 3 ,.9 58 . 1 62 . 1 63..9 9 .5 70,. 7 5 3 .2 73.. 1 2 3 .8 77 48 86 30 .5 .6 .4 .2 80 . 35 . 1 12 . 33 . 12 3 0 6 6 ..4 13 14 15 16 17 8 9 8 .3 140..2 .6 531 . 22..5 989 148 567 47 18 19 20 21 22 2 0 4 .. 0 78..7 5 7 ..7 15 .4 5 .6 2 2 5 .6 8 7 ..4 60..4 2 2 .6 4..5 33 39 47 5 23 24 25 26 3 0 9 4 .2 .3 . 1 .6 .3 39 42 46 9 . 6 . 7 .9 . .3 . 9 .5 .5 .3 266 97 63 25 8 47 55 49 17 .9 .5 .3 .5 .7 .9 . 0 .4 .2 .6 .2 . 7 .3 .7 278 . 7 107 . 1 6 7 .4 3 8 .2 1. 6 51 65 52 2 .3 . 0 .8 .6 286 107 72 31 4 9 3 9 .. 1 8 3 3 ..9 105..2 11101 . .5 Total assets Tangible Total 1 assets financial 2 9 10 11 assets 12 Deposits & cr. mkt. instr. Checkable deposits 2 curr. S m a l l time & savings dep. Large time deposits H o n e y m a r k e t fund s h a r e s Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues Tax-exempt securities C o r p o r a t e 8 fgn. bonds Mortgages Open market paper 0 2 0 0 3 4 5 6 7 8 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 5 0 .6 7 5 9 .9 3 8 .7 568 . 3 2 8 .2 3 5 9 .6 3 4 .4 4 8 1 .2 36 .2 6 8 4 .9 3 5 .6 5 8 4 .8 36 .2 5 9 5 .2 3 9 .4 7 2 4 .9 4 5 .6 975 . 4 M u t u a l fund shares Corporate equities 27 28 29 30 31 143..9 3 4 7 .5 1 6 3 .7 151 .3 356 . 0 1 5 1 .5 158 . 4 3 6 4 .2 1 2 4 .3 1 6 6 .5 4 6 2 .6 1 4 4 .8 1 7 5 .3 529 . 7 1 7 3 .4 1 8 4 .8 5 8 4 .3 1 6 9 .5 196 . 0 6 8 4 .3 1 7 6 .7 206 . 7 792 . 0 193 . 7 216 . 4 949 . 3 218 . 7 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 29 30 31 32 6 6 6 .2 7 9 9 .9 8 7 7 .6 9 5 8 .6 1071 . 4 1195 . 1 1 3 9 8 .6 1632 . 0 1863 . 6 Equity 32 4 .9 34 3 .9 3 6 .8 4 .5 4 0 .6 5 .7 46 . 0 5. 7 52 . 9 8 .5 5 9 .5 989 . 4 1 1 5 4 .2 5 . 0 31 .3 33 34 5 8 0 .3 35 36 37 38 39 .40 41 648 . 2 21 .5 624 . 0 370 . 7 155 . 1 3 7 .8 0 .4 22 . 6 42 43 7 .6 2 3 .6 11 .2 26 . 2 44 45 1 3. 1 8 .2 553 331 133 35 . 1 .9 .2 .3 . 8 . 9 8 .9 6. 0 46 4 1 5 3 .7 47 6 9 9 .8 756 . 4 817 499 188 41 4 25 . 0 .5 .7 .7 .7 .6 951 590 223 43 8 26 1110 696 264 47 10 28 . 1 . 4 . 7 .6 . 7 . 1 1 4 5 0 ..9 1270 808 300 50 13 29 1391 904 302 53 16 31 . 1 . 6 . 3 . 3 .6 .6 Total . 1 .9 . 1 .3 .7 .5 2 3 .4 35 . 7 2 3 .2 39 .5 21 .7 4 5 .9 2 7 .8 54 . 7 Bank loans n.e.c. Other loans 7 .4 10 .1 8 .3 11 .6 12 .5 12 . 9 14 .5 14 .4 17 . 1 16 . 6 17 .5 18 .9 24 . 7 22 . 1 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 4 3 3 3 .8 4493 . 6 5119 . 4 5871 . 7 9 .3 6369 . 6 10 .3 7 2 3 2 .6 11 . 7 8365.6 12.9 9650 . 6 (3) 33 34 35 liabilities 23 . 4 33 . 4 8. 4 bus. Credit market instruments Home mortgages Installment :ons. credit Other consumer credit T a x - e x e m p t debt Other mortgages 23 . 0 31 .5 7 .7 . 1 . 0 . 7 .5 . 1 . 7 1318 . 2 noncorp. 16 29 . 4 7. 1 .8 . 2 .7 .8 . 7 .8 * in Security credit Miscellaneous assets 16 . 2 7 3 .5 6 7 5 .3 401 . 7 1 6 4 .6 3 7 .7 1 .3 2 3 .7 6 .4 728 439 168 38 2 24 8 5 0 .8 10 .4 66 .7 Net 36 37 38 39 40 41 42 43 44 45 li*e 46 47 worth Memo: 48 1 0 8 5 .5 1 3 9 5 .2 1572.1 1790 . 4 2094 . 7 2 4 7 8 .2 2 8 9 7 .2 3 2 8 9 .4 49 30.5% 30. i 3% 2 8 . 7% 27. 9% 27.8% 2 8 . 1% 2 8 . 0% i 27. 9% 2 7 .5% 50 1 5 0 .6 1 7 4 .9 1 9 8 .5 2 1 3 .5 2 3 0 .2 2 5 6 .9 2 9 4 .2 340 . 3 3 7 8 .5 1234 . 9 O w n e r - o c c . r e a l e s t a t e (4) 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 (5) (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 land. (3) 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 . (4) L i n e s 5 * 13. (5) L i n e s 6 + 1 1 + nonresidential plant from line 7. Data are In billions of dollars. 48 49 50 March 9, 1994 H o u s e h o l d Sector , ^ ^ Household Sector 2 ^ Year-End B. 100 Balance Sheet 1962 11870. 2 12656. 4 13764.6 14713. 1 5096. 5 5358. 5 5672.8 6160. 0 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing N o n p r o f i t institutions N o n p r o f i t plant & e q u i p . Consumer durables 3567. 3 2243. 3 2193. 3 50. 0 237. 6 1086. 2 3707. 0 2317. 3 2265. 7 51. 6 256.. 0 1133. 7 3868.7 2421.6 2366.3 53.3 273.4 1193.8 Land O w n e r - o c c u p i e d (2) Nonprofit institutions 1529.2 1379.3 149. 9 1651. 5 1492. 6 158. 8 6773. 7 7299. 9 1 Total assets 9 10 11 12 Total 13 14 15 16 17 18 19 20 21 22 assets financial assets D e p o s i t s 8 cr. m k t . instr. C h e c k a b l e d e p o s i t s 8 curr. Small time 8 savings dep. Large time d e p o s i t s M o n e y market fund shares Credit market i n s t r u m e n t s U.S. govt. s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y issues A g e n c y issues Tax-exempt securities C o r p o r a t e 8 fgn. bonds Mortgages Open market oaper 23 24 25 26 Sector (1) ' Year-End Outstandings 1961 2 Tangible 3 4 5 6 7 8 of the H o u s e h o l d Outstandings 1966 1967 1986 1989 16267. 8 17752.,1 18993. 9 20391. 9 22437.3 6603. 2 7100. 4 7656. 1 8102. 6 6706.6 2 4124. 6 2552. 2 2496. 8 55. 5 290. 9 1281 .5 4391. 7 2692. 5 2634. 1 56. 4 308. 1 1391. 1 4757. 8 2902. 5 2640. 6 61. 9 327. 8 1527. 5 5157. 5 3146. 1 3081 .8 66. 3 349. 9 1659. 5 5406. 7 3223. 4 3156. 5 66. 9 376. 9 1808. 4 5773.7 3440.5 3370.3 70.2 403.6 1929.6 3 4 5 6 7 8 1784.0 1615.5 168.5 2035. 4 1852. 6 162.8 2211.5 2016. 0 195. 5 2342. 7 2137. 6 205. 0 2498. 6 2267. 1 211. 4 2694.,1 2463.. 0 231. 0 2934.9 2686.3 246.6 9 10 11 8092.0 8553..1 9664. 6 10651. 7 11337. 9 12289..0 13728.7 12 2440. 3 322. 2 1244..5 156..4 182. 8 2737.7 366.6 1430.9 153.2 152.7 3097.,4 388. 6 1569., 0 227.0 196. 5 3358. 0 406.,0 1684. 0 217.,1 200. 2 3527. 4 499..5 1775. 3 200.,7 238..4 3840. 2 497. 0 1820. 4 242. 9 262. 7 4199. 4 514. 7 1929. 5 275. 8 282. 9 4482.8 512.7 1994.6 280.7 368.0 13 14 15 16 17 513. 9 234. 5 68 2 130..3 36.. 0 534. 3 236 .7 66..3 150,.9 17,.4 634.3 276.1 71.5 192.5 12.2 716. 3 341. 2 74. 5 231 ..5 35..1 850., 7 340. 2 79. 8 212. 5 47. 9 813.,6 291 ..6 93. 3 170,.6 27,.7 1017. 2 320.,0 101..1 155. 5 63. 5 1196. 5 437,.7 109,.6 185. 2 142..9 1326.8 487.1 117.7 166.7 202.7 18 19 20 21 22 100..8 36..6 119..7 22 .3 124.. 1 27..1 122, 2 24 .3 159.4 27.6 122. 0 49.0 186, 3 25, 9 112..4 50..5 255.,2 15. 5 125. 3 114,.4 2 4 2 .9 45,.6 115..8 117 .7 391 .6 35 .7 171,.3 160,.1 442.2 52. 0 186.4 159.2 23 24 25 26 46..6 879 .5 57 3 941 .8 87.7 1071.0 105,.7 994..1 192. 4 1261 ,,1 318 .3 1436 .5 354. 3 1402,.7 371 .5 1528 .5 433.7 1831.2 27 28 29 30 31 2254. 5 292. 5 1122. 8 175. 3 150..1 1963 1964 1965 332..8 67, 2 172,.0 125.. 1 27 26 M u t u a l fund shares C o r p o r a t e equities 29 30 31 Life insurance r e s e r v e s Pension fund reserves Inv. in bank personal trusts 225 .6 1039,. 0 217 .2 232 .8 1261 .1 246 .3 240.8 1499.6 272.7 246,.0 1669,.8 287 .4 256 . 7 2031,.6 347 .7 274 .2 2396 .9 397 .4 300,.3 2600..9 400,.9 325 .5 2846 3 430 .5 354.3 3356.1 503.2 32 Equity 2016 .2 2015 . 1 2059.1 2026 .6 2049 .6 2107 .2 2 2 2 4 .6 2353 . 0 17 .6 87 .4 20.6 102.9 21 .6 104 .2 35..1 132,.5 1637 .0 1603.0 2015 .5 2325 .6 2593 .5 1567 1004 330 56 29 36 1722.4 1092.6 374.5 63.2 41.0 38.9 1935 1220 449 69 51 41 2223 .7 1378.6 526 .2 75 .3 81 .3 43 .8 2483 1573 581 78 79 49 33 34 42 43 44 45 46 (3) 14,.7 80 .4 S e c u r i t y credit M i s c e l l a n e o u s assets 35 Total 36 37 38 39 40 41 in n o n c o r p . bus. 1562 . 6 liabilities Credit market instruments Home m o r t g a g e s Installment cons. credit Other consumer credit T a x - e x e m p t debt Other m o r t g a g e s Bank loans n . e . c . Other loans S e c u r i t y credit Trade credit Deferred and unpaid life insurance p r e m i u m s 47 Net worth 48 O w n e r - o c c . real estate (4) Home m o r t g a g e s as percent of o w n e r - o c c . real estate 49 50 N o n p r o f i t real estate (5) 1499 973 315 56 21 33 in b i l l i o n s of d o l l a r s . .8 .7 .4 .3 .6 .4 . 4 .2 .5 .8 .2 .4 .5 .7 . 1 .0 . 1 .9 2508.1 32 40 .9 191 .3 53.2 206.2 33 34 2871 .2 3175 .6 3481.7 35 2771 1795 618 73 78 82 3069 2007 673 68 79 109 .4 .8 .3 .8 .5 .2 3371.4 2225.8 736.3 63.2 81 .9 122.6 36 37 38 39 40 41 39 . 1 174 .9 .8 .3 .5 .5 .2 .2 33 .5 65 .8 35 . 1 73 .2 35.6 76.5 23 .9 79 .4 34 .0 8 4 .3 32.2 89 .4 31 .7 92 .4 34 .3 96 .5 42.9 98.6 42 43 23 . 0 25 . 1 25.8 27 .9 34.2 30.3 31 .8 33 . 1 50 .7 36 . 0 57 .4 38 .7 41 .8 42 .5 43 .5 47 .2 42.5 51.4 44 45 14 .7 15 .5 16.1 15 . 1 15 .2 13 . 9 15 . 1 15 .5 16.4 46 10307 .6 11021 .4 11961 .8 12697 . 7 13942 .3 3572 .6 3758 .4 3983.9 4349 .4 27. 2X 26. 7% 27.4% 28. 0% 29.i6% 413 .2 438 .6 464.6 495 .7 525 .0 (1) H o u s e h o l d s and nonprofit organizat ions. (2) Includes vacant land. (3) 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 u n i n c o r p o r a t e d s e c u r i t y brokers and dealers. (4) Lines 5 • 10. (5) Lines 6 + 1 1 + n o n r e s i d e n t i a l plant from line 7. Data are .7 .3 .5 .8 .1 .8 44 . 0 149 .8 1 4650 . 1 15156 .5 16122 .7 17216 .2 18955.6 47 4978 .2 5 3 6 8 .9 5619 .6 6058.5 48 31. 6% 33. 4% 35. 7% 36.7% 49 553 .1 580 .5 621 .1 659.2 50 March 9, 1994 Household Sector Household B. 100 B a l a n c e Sheet of the Household Sector (1) Year-End O u t s t a n d i n g s 1990 Sector 2 ^ Year-End Outstandings 1991 1992 1993 2 7 1 3 5 .4 Total assets 1 1 22639.4 24628 .4 25882.4 2 8738.3 9248 .3 9534.1 9905.. 1 3 4 5 6 7 8 6107.1 3633.0 3560.1 72.9 427.1 2047.1 6374.4 3787 . 4 3713 .5 73 .9 445 .1 2141 .9 6671.7 3971. 1 3895.5 75.6 468.5 2232.1 7040 .3 4226 .3 4147 .7 78,.6 476 .0 2338 .0 R e p r o d u c i b l e assets Residential structures O w n e r - o c c u p i e d housing N o n p r o f i t institutions N o n p r o f i t plant 8 equip. Consumer durables 9 10 11 2631.1 2418.9 212.2 2874 . 0 2727 .2 146 .7 2862.4 2776.2 86.1 2 8 6 4 .8 2 7 9 8 .9 65 .9 Land O w n e r - o c c u p i e d (2) N o n p r o f i t institutions 12 13901.1 15380 . 1 16348.3 17230 .2 Tangible Total assets 2 3 4 5 6 7 8 9 10 11 f i n a n c i a l assets 12 13 14 15 16 17 4702.9 527.1 2056.1 252.4 412.7 4603 578 2024 183 437 .4 . 1 3 .8 .2 4710.2 714.1 1988.2 139.4 434.3 4639 8 797 .6 1901 .6 129 .5 441,.1 18 19 20 21 22 1454.6 550.9 126.2 172.2 252.6 1380 445 138 73 233 . 0 .7 . 1 .7 .9 1434.2 456.9 157.3 31 .8 267.9 1370,. 0 462..5 .9 171 , 18,.5 272,. 1 23 24 25 26 468.9 94.9 170.4 169.5 503 .8 117.8 160 .9 151 . 9 508.9 115.6 167.7 185.0 483,.2 79,.9 177,.7 166.. 7 27 28 451.7 1738.7 590 .6 2482 .8 764.9 2884.3 1083..8 3009..4 M u t u a l fund shares Corporate equities 29 30 31 380.0 3400.3 509.9 405 .7 4056 .5 596 .7 433.0 4357.8 619.1 488 5 4775..9 658..6 Life insurance reserves 29 Pension fund r e s e r v e s 30 Inv. in bank personal trusts 31 32 2440.6 2 3 4 4 .6 2274.5 2221 .2 Equity 33 34 62.4 214.6 76.1 228.4 100..5 252 .5 35 3706.2 3896 .6 4116.0 4393.. 0 36 37 38 39 40 41 3594.8 2419.4 752.9 60. 1 86. 0 133.5 3762 . 7 258 0 .2 749 . 1 50 .9 94.8 144 . 1 3978.0 2751.3 756.9 52.3 101.0 153.8 4229 .2 2938 3 807 .3 51.. 0 95 . 2 163 . 1 42 43 33. 1 109.8 23 . 7 119 .9 34.8 127.9 44 45 38.8 56.2 55 . 1 60 . 7 53.3 65.1 87 . 0 212.8 D e p o s i t s 8 cr. m k t . instr. C h e c k a b l e d e p o s i t s 8 curr. S m a l l time 8 savings dep. L a r g e time deposits M o n e y market fund shares C r e d i t market instruments U.S. govt. s e c u r i t i e s S a v i n g s bonds Other T r e a s u r y Issues A g e n c y issues T a x - e x e m p t securities C o r p o r a t e 8 fgn. bonds Mortgages Open market paper 16.5 18 .2 19.6 20..2 47 18933.1 20731 .8 21766.4 2 2 7 4 2 .3 (3) liabilities S e c u r i t y credit Trade credit D e f e r r e d and unpaid insurance premiums 23 24 25 26 32 33 34 35 Bank loans n.e.c. Other loans 75.. 1 68..6 46 in n o n c o r p . bus. Credit market instruments Home mortgages Installment cons, credit Other consumer credit T a x - e x e m p t debt Other m o r t g a g e s 40..5 133..8 18 19 20 21 22 27 28 S e c u r i t y credit M i s c e l l a n e o u s assets Total 13 14 15 16 17 36 37 38 39 40 41 42 43 44 45 life Net worth 46 47 Memo: 48 5979. 0 6440 . 7 6671 .7 6946 .6 49 40.4% 40.1OX 41 .2% 42. 2X 50 643.9 590 .8 547.9 532 .6 O w n e r - o c c . real estate (4) Home m o r t g a g e s as percent of o w n e r - o c c . real estate Nonprofit real estate (5) (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) Includes vacant land. (3) 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 security b r o k e r s and d e a l e r s . (4) Lines 5 + 10. (5) 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 d o l l a r s . 48 49 50 M«rch 9, F a r m and 1994 Nonfarm Noncorporate B.102-B.103 26 Year-End Farm Business Balance Sheets of Unincorporated Total 7 8 1948 13 101. 7 1949 Farm Business 124, 8 123.6 144.4 158. 5 157. 3 155.5 1 150. 1 149. 0 147.2 2 3 1 8 4 76.9 19.2 23.4 34.4 3 4 5 6 73.0 17.9 19.0 36.1 78. 18. 21. 38. 53. 2 5 1 ..4 63.3 71. 2 71 . 7 70.3 7 8..4 8, 0 8.0 8..4 8. 3 8.3 8 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 10,.7 12.2 14.. 0 14..9 14.5 13 10 6 3 1 11 .6 7 2 3 .3 1,. 1 11.5 7.7 2.7 1.1 14 15 16 17 63. 1 16. 3 14..5 32 3 61. 16. 16. 28. Land 46. 0 5 1 .. 1 52.4 8.1 8. 8 8.7 7.4 0.7 0.5 0.2 8.. 0 0..8 0,.6 0,.1 7.8 0.9 0.8 0.1 7.6 8 .3 9.2 liabilities 1953 136.4 116. 3 62.5 15.2 11.9 35.4 Total Outstandings 7 8 5 4 114.9 41. 8 13. 2 9.,0 19. 6 C h e c k a b l e dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 2 ) Business 113. 1 92. 8 32.5 11.4 7.0 14.1 assets 1952 1950 1 2 1 ..1 78.6 assets financial Noncorporate (1) Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Total 9 10 11 12 86.7 assets Tangible 3 4 5 6 Nonfarm Year-End B.102 2 and Business Outstandings 1947 1 Nonfinancial 10, 2 9 9 4 6 .8 .7 . 1 .0 77. 19. 22. 35. 14 15 16 17 Credit market instruments Mortgages Bank loans n.e.c. Other 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 5 1 0 . 1 .3 .9 .8 8,.5 5 .6 2 .0 0 .8 9.5 6.1 2.5 0.9 18 Trade 1.0 1 .4 1.7 2. 1 2 .3 2.7 3 .2 3 .3 3.0 18 79.1 77.7 1.4 9 3 .3 91 .6 1 .7 114.5 112.3 2.2 1 1 0 .4 1 0 8 .3 2 .1 132.2 129.7 2.6 1 4 4 .4 141 .6 2 .8 1 4 2 .4 1 3 9 .5 2 .9 141.0 137.9 3.0 19 20 21 60.5 6 8 .7 73.5 100 . 0 98.9 22 debt 19 N e t w o r t h 20 Noncorporate 21 Corporate 22 Total real estate (3) ( 1 ) C o r p o r a t e and n o n c o r p o r a t e f a r m s . ( 2 ) S h a r e s in F e d e r a l I n t e r m e d i a t e C r e d and F e d e r a l Land B a n k s . (3) 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. 1 Total Tangible assets assets Nonfarm 148. 7 152. 6 166. 0 176. 3 182.5 186. 9 1 120. 6 130. 7 134. 1 145. 9 155. 8 159.9 163. 6 2 9 9 9 1 109. 0 7 0 .3 27. 0 11 . 7 118. 74. 30. 13. 6 7 3 6 126. 2 78. 5 33. 4 14. 3 128.2 79.8 34.4 14.0 130. 2 80. 2 35. 5 14. 5 3 4 5 6 23. 9 25. 1 27. 3 29. 5 31 .7 33. 4 7 22.7 23. 3 8 10. 4 9 10 11 12 13 14 7 Land 16.4 18.7 21 .9 assets 15 16 17 18 Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 4 ) Other 19 Total 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial 25 26 Bank loans n.e.c. Other loans 27 28 Taxes Trade 29 Miscellaneous 30 Net 31 payable debt liabilities worth Memo: Total real estate (5) C 4 ) S h a r e s in B a n k s for C o o p e r a t i v e s . (5) L i n e s 4 * 7 + nonresidential plant from line 5. Data are in billions 15.6 16.9 9.7 9.7 of dollars. 7 2 1 4 17. 8 10.. 1 106. 68. 25. 12. 18. 0 18. 6 20. 2 20. 6 9. 9 10. 3 10. 5 10. 8 10.4 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 7.8 8. 2 0.8 0.8 0.9 0.9 1., 1 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 - - 14,. 0 15. 5 16.,1 19., 1 20..3 22.1 23..4 19 10. 3 5.,8 0. 9 4..0 0..9 10.,8 6..4 1 , . 0 5.. 0 0. 3 12..8 7,.5 1 .6 , 6 . 0 14,.1 8 .2 1,.7 7 .2 - .7 15.5 8.9 1.9 7.8 -. 8 16.. 0 9. 2 2.. 1 8..3 -1,. 1 20 21 22 23 24 8.7 liabilities Business 138. 5 98. 65. 23. 10. financial Noncorporate 103.8 85.1 57.2 19.6 9.3 C h e c k a b l e dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 98 . 7 120.7 72.1 50.1 14.8 7.2 Total 88.9 88.4 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 9 10 11 12 13 14 75 . 1 104.1 3 4 5 6 8 76 . 0 Banks B.103 2 1 1 4 .5 1 1 2 .4 2 .2 12.1 .6 . 1 .7 .3 .1 15 16 17 18 6.1 3.8 0.3 2.8 0.7 8.4 4.5 0.5 3.0 1. 0 9 5 0 3 1 0.3 2.0 1.0 2.9 1 .3 3 .2 1.. 1 3 .5 0, 8 3,.6 1,.3 4 .0 1.5 4 .4 1.7 4.9 1 .8 . 5 . 0 25 26 2.5 3.7 4 .4 5 . 1 5 .3 6 .3 6. 1 6.5 7 .3 27 28 0.1 0.1 0 .1 0 .1 0.. 1 0. 1 0. 1 0.1 0 .1 29 95.4 108.6 1 2 4 .5 1 3 3 .2 1 3 6 .5 1 4 6 .9 1 5 6 .1 160.5 1 6 3 .6 30 75.7 87.5 1 0 0 .9 1 0 7 .4 1 1 0 .0 1 1 8 .a 1 2 5 .4 129.2 1 3 1 .6 31 M a r c h 9, F a r m and 1994 Nonfarm Noncorporate Farm Business B.102-B.133 Year-End Sheets of Unincorporated N o n f inanelaJ and Nonfarm Noncorporate Business Year-End 1957 B.102 157. 3 1958 Farm (1) 161. 1 169. 3 177. 2 189. 1 193. 5 195. 8 202. 7 209. 7 Total 169. 0 180. 5 185. 5 188. 1 194. 9 2 0 1 .,8 Tangible 8 1 .7 19. 2 28. 8 33. 7 2 1 4 9 ,,0 152. 7 3 4 5 6 75. 5 19 .3 23, 7 3 2 .,5 74. 7 19. 6 24. 8 30. 2 76 . 1 19. 8 25. 9 30. 4 7 7 .,5 19. 6 2 6 .,4 31 .5 80. 19. 27. 33. 2 4 0 8 78. 7 19. 4 27. 7 31 . 6 80. 4 19 .2 28. 2 33. 0 7 73.,5 78. 1 85. 0 91 ..5 100. 3 106. 7 107. 7 10 12 1 1 8 ..0 8. 4 8. 3 8. 2 8., 6 8. 0 7. 7 7. 8 7 . .3 6..9 1 .. 4 .2 0,. 1 6 .9 1 .5 . 6. 7 1 .6 1 .4 0 .2 6..6 1 .6 . 1 ,. 4 0 .2 , , 9 6 . 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 23. 6 24.3 26.,6 29 , .4 18..9 12,, 1 4,.9 2,. 0 20,. 0 12..8 5.. 1 2 .1 21 ..6 13..9 5,.3 2 .3 23..9 15.. 2 6. 1 2. 6 13 15,.4 15 16 17 12 8 2 1 . 1 1 3 .. 1 83. 3 19.. 1 29. 9 34. 8 8 ,,3 0., 1 . 3 . 2 .9 .2 16 .9 17. 8 19,.2 21 ..2 13,.7 , 0 9 . 3,.4 1 .3 , 14. 6 9.,3 3.,4 1 ,4 . 15,.6 10 . 4 3 .8 , 1 .5 .17,. 0 - 1 1 ,. 1 . * .2 . 1,.7 18 3 .2 3 .2 19 20 21 141 .9 1 3 8 .5 3 .3 1 4 4 .2 140 .6 3 .6 3 .2 151 . .5 147 . 4 4.2 3 .6 . 4 .2 167 . 9 1 6 2 .5 5 . 4 158 . 0 1 5 3 .3 4 .7 Outstandings 1959 Business 161 . 1 8 Business ^ -j Outstandings 1956 1 Balance 4 . 7 169 .8 166 . 1 5,.8 4..8 171 . 0 164 . 7 6. 3 5,. 1 5 .5 1 assets 2 assets R e p r o d u c ible a s s e t s Residential structures Nonres. plant & equipment Inventories 7 Land Total financial assets C h e c k a c l e dep. S currency Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 2 ) Total 3 4 5 6 8 9 10 11 12 liabilities Credit market instruments Mortgages Bank loans n . e.c. Other loans Trade 14 15 16 17 debt 176 . 0 169 .2 6. 9 180 . 3 1 7 2. 9 7 .4 Net worth Noncoroorate Corpor ate 145.8 151 .5 Total real 19 20 21 estate (3) (1) C o r p o r a t e and n o n c o r p o r a t e * a r m s . ( 2 ) S h a r e s in F e d e r a l I n t e r m e d i a t e - r a d i t and F e d e r a l Land B a n k s . (3) 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 l i n e 5. B.103 Nonfarm N o n c o r p e r ate Business 6 244. 6 191.0 200. 7 2 1 1 .4 216. 7 222. 9 226. 5 2 3 0 .5 236. 2 167.0 176. 4 185. 4 190. 3 194. 1 199. 3 203. 3 208. 8 216. 3 3 4 5 6 132.7 81.7 36.7 * 14.4 140. 1 3 4 .3 40 . 15. 3 1 4 6 .8 85. 9 44. 9 16 . 0 150. 4 86. 6 4 7 .3 16 .5 153. 2 87. 8 48. 5 ; 1 6 .9 1 5 7 .3 3 9 .9 50. 5 16. 9 159. 9 91 . 7 51 .6 16. 6 162. 9 94. 2 53. 15. 6 168. 3 9 7 .6 55. 4 15. 8 7 34.3 36. 3 38. 6 39 . 9 40 . 9 42. 0 43. 4 66 . 0 48. 0 27 .8' 27. 6 12. 5 12. 5 1 . 8 24.0 24. 3 26 . 1 26 . 4 . 28. 8 27. 3 27 . 2 9 10 11 10.9 1 1 .2 11 . 5 12. 4 ' 13. 6 12. 7 12. 4 ' - 2.8 2.. 9 3., 1 3.. 1 3.. 1 3. 4 3. 2 3.. 1 3. 3 13 14 8.2 7 .9 9.. 1 8. 4 9 , . 4 8. 2 3. 6 8. 9 8. 5 15 16 17 2.1 2.1 * 2 , 4 2..4 2 6 2., 6 2.. 7 2.. 7 2. 9 2. 9 3., u 3.. 0 3,. 2 3,. 1 0. , 1 3. 3 3. 3 0 . 1 19 26.0 32.. 0 ' 34 . 1 35,.8 40 . 4 43., 0 12 18 20 21 22 23 24 17.0 9.9 2.4 8.5 -1.3 % >:l 2 3 29 . 0 18 . 9 10,.6 . 6 - 1 .1 31 20 10 2 9 -1 . 0 .9 . 6 . 6 .4 5 i-t ?•? 6A 5 .8 1« . 10 . 1 11 1 11 . 0 29 0.1 0. 1 0. 1 30 165.0 171 . 7 a < ) 31 134.5 141 . 1 1 8 0 .3 1 4 7 .3 20..9 .1 11 . 2,. 7 10 .3 - 1 .6 2 2 .4 1 2 .3 3 .0 I 1.2 - 2 .0 24,.9 13..5 3 .3 12 . 9 - 2 .6 3. 1 6 .7 3 .2 6 .9 ii 3 .6 7 .7 M T i .0 n 11 0. 1 1 8 4 .8 1 5 0 .6 1 1 *.6 . 11 0 .1 1 8 8 .8 1 5 3 .6 in .8 A 10 0. 1 1 9 0 .8 158 . 0 38,.5 27 . 1 14,.4 3 .5 14 . 4 3 .4 4. 0 8 .7 29 16 3 16 -4 . 7 . 4 .9 . 7 .2 4 .3 8 .9 1 1 ..2 ? 11 1 0 ..6 6 10 0 .1 0 .2 1 9 2 .0 1 6 1 .9 196 . 1 1 6 3 .5 32,, 7 18,.8 4,.4 19 .3 -4,.9 Total financial assets are in billions of dollars. 8 Checkable dap. 3 currency T i m e a e a o s its U.S. government securities Consumer credit Mortgages Traoe credit 9 10 1 1 12 13 14 Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 4 ) Other 15 16 1 7 18 Total liabilities Credit market instruments Mortgages Home mortgages Multifamily C o m m e r c xal Bank loans n.e.c. Other loans Swip"™™"-" Taxes Trade payable debt Miscellaneous 2 0 1 .5 Net 175 . 9 Memo: Total worth real 20 21 22 23 24 " 28 liabilities estate (5) ( 4 ) S h a r e s in B a n k s f o r C o o p e r a t i v e s . (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 f r o m line 5. Data 3 4 5 6 7 Land Total r.i 0 .2 2 assets Reproducible assets Residential structures Nonres. plant 3 equipment Inventories 4 .7 9 .3 1 0 ..00 10 1 assets Tangible 29 March Farm 9, 1994 and Nonfarm Noncorporate Bus m e s s 2 g Year-End Farm B.102-B.103 Balance Sheets of Unincorporated 1 Total assets 2 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 7 financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 2 ) 13 T o t a l liabilities 14 15 16 17 Credit market instruments Mor tgages Bank loans n.e.c. Other loans 18 Trade debt 19 N e t w o r t h Noncorporate 20 Corporate 21 Memo: 22 Total real estate (3) (1 ) C o r p o r a t e a n d n o n c o r p o r a t e f a r m s . ( 2 ) S h a r e s in F e d e r a l I n t e r m e d i a t e C r e d i t and F e d e r a l Land B a n k s . (3) 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. 1964 1965 1966 1 Total assets Reproducible assets Residential structures Nonres. plant 3 equipment Inventories 3 4 5 6 7 8 assets Tangible Land Total financial assets 9 10 11 12 13 14 C h e c k a b l e dep. 8 currency Time deposits U.S. government 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 Farm 1967 Business * 1968 1969 1970 Total 20 21 22 23 24 liabilities Credit market instruments Mortgages Home mortgages Multifamily Commercial 25 26 Bank loans n.a.c. Other loans 28 Taxes Trade 29 Miscellaneous 27 30 Net 31 Data liabilities worth Memo: Total (4) (5) payable debt real estate (5) S h a r e s in B a n k s for C o o p e r a t i v e s . Lines 4 * 7 * nonresidential plant from line 5. are in billions of dollars. Outstandings 1971 (1) 2 2 6 .9 2 4 4 .6 2 5 5 .4 2 6 8 .3 2 8 1 .9 293.4 3 0 1 .1 324.5 1 2 1 8 .8 2 3 6 .2 2 4 6 .7 2 5 9 .2 2 7 2 .3 283.3 2 9 0 .3 313.0 2 106 22 45 38 114.8 23.5 49.4 41.9 117 24 53 40 128.7 25.7 58.0 45. 0 3 4 5 6 168.5 1 7 2 .8 184.4 7 10.2 10 .8 11.5 8 6 .5 4,.3 3,.6 0..6 6.7 4.8 4.1 0.7 9 10 11 12 .1 .8 .4 .9 8 5 .4 19,.2 33 . 0 3 3 .3 92 19 35 37 .2 .2 .5 .4 95 20 38 36 . 1 . 1 .7 .3 9 8 .7 2 0 .6 41 . 6 36,.5 . 1 .2 .2 . 7 1 2 5 .5 133, 3 151,.6 1 6 0 ,. 5 7 .9 8,.2 8 .5 8 .7 9,. 1 9,.6 5,. 2 . 1 .. 0.. 5..8 2 3 2 . 0 0..3 6 . 0 2 .5 2 .2 0..3 6 . , 0 2 .7 2 .3 0..4 , 1 6 . 3,.0 2 .6 0,, 4 6,.3 3..3 2 ,3 0.-5 7 1 9 3 144,. 0 166..2 • 6.4 3.8 3.2 0 . 6 .5 .2 .3 . 1 32..5 35. 3 39 , .2 42.,8 4 5 ..9 4 7 .,6 50.2 5 2 ,.8 57.5 13 2 6 .,4 16..8 6. 7 2. 9 29. 18. 7. 3. 0 9 0 1 32..3 21 . 2 7. 7 3. 5 35. 5 2 3 ., 1 8. 6 3. 9 38. 8 2 5 ., 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 5 1 .6 32.4 12.5 6.7 14 15 16 17 6. 1 6. 3 6. 9 7. 3 7. 0 6. 0 5.5 5. 2 5.9 18 186. 0 178. 0 8. 0 191 .6 183. 0 8. 6 205. 4 195. 9 9. 5 212. 5 202. 4 1 0 .1 222. 4 2 1 1 .6 10. 8 234. 4 222. 6 11 .8 243.3 230.7 12.5 248. 3 235. 3 13. 0 267 . 0 252.9 14.1 19 20 21 159. 7 168. 7 180. 8 190. 7 201. 4 211 .0 217. 1 224. 5 240.9 22 Banks Nonfarm Noncorporate Business 2 5 1 .4 2 6 4 .4 279.5 3 0 1 .2 318.7 3 5 2 .2 387.7 4 1 7 .9 4 6 9 .9 1 2 2 3 .8 2 3 6 .2 250.9 2 7 1 .8 288.4 3 2 2 .5 356.5 3 8 5 .5 4 3 0 .3 2 173 100 58 15 184 107 61 15 1 1 9 1 196.0 112.3 67.8 15.8 212 121 75 16 225.2 127.1 81 . 0 17.1 249 143 89 17 275.7 158.5 98.8 18.3 296 168 109 19 5 0 .3 52 . 1 54.9 5 8 .8 63.2 7 2 .8 80.9 8 8 .6 9 8 .4 7 2 7 .6 2 8 .2 28.6 29 .4 30.4 2 9 .6 31 . 1 3 2 .4 39 .6 8 12 .5 12,.5 12.5 1 2 .5 12.5 1 2 .5 12.5 , 0 .3 3,.9 12,.5 1 .4 0,.7 3 .8 0..7 6..6 1 2 .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 .5 .3 . 1 . 1 . . . . . 9 .2 .3 . 4 . 7 . 0 . 1 .6 .9 .6 .2 . 1 331 189 121 21 .9 . 1 . 1 . 7 3 4 5 6 3 .6 3,.8 4.0 4 . 0 0.1 3.9 8,.0 8.. 1 7.9 8 .5 9.0 7 .7 0.5 3.7 0.3 8.1 3,.5 3..5 0,. 1 3. 8 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 4 5 ..4 5 1 ., 0 57. 1 6 2 ., 0 69.4 77..9 94. 0 106. 8 129..6 19 3 7 ., 0 2 1 .,4 4, 9 2 2 ., 1 -5. 6 43. 3 25. 9 5. 5 26. 2 -5. 8 50.3 30.8 6.1 29.4 -4.7 5 6 ..7 34. 8 6. 6 32. 2 -4. 0 64. 0 40.9 7.2 35.4 -1.7 73. 5 47. 8 8. 7 38. 3 0. 8 88.5 57.6 10.8 42.5 4.3 101 . 7 70. 0 12. 9 48. 8 8. 3 1 2 1 ..9 88. 3 15. 8 58. 0 14. 5 20 21 22 23 24 5. 3 10. 3 5. 8 11. 6 6.7 12.8 8. 1 13. 9 8.8 14.3 9. 9 15. 8 12. 1 18.8 11. 7 19. 9 12. 6 21. 1 25 26 8. 2 7. 5 6.6 5. 1 5.2 4. 2 5.2 4. 8 1 .0 4. 4 27 28 0. 2 0. 2 0.2 0. 2 0.2 0. 2 0.3 0. 3 2. 3 29 206. Q 213. 4 222.4 239. 2 249.4 274. 2 293.7 311. 2 340. 3 30 182. 9 194. 0 206.2 223. 6 237.2 268. 0 298.4 322. 8 3 6 2 ..1 31 " 19 Business 218.5 B.103 2 Noncorporate 2 1 0 .7 85 18 31 34 Land Total 9 10 11 12 Nonfarm Year-End B.102 8 and Business Outstandings 1963 3 4 5 6 Nonf inancial - - M a r c h 9, 1 9 9 4 F a r m and W o n f a r m Noncorporate Farm Business B.102-B.103 Year-End Balance Sheets of Unincorporated Nonfinaneial and Nonfarm Year-End Outstandings 1974 1975 B.102 1976 Farm Business 366. 7 454. 5 5 0 1 .4 5 6 0 ., 1 6 4 3 .,2 7 1 1 .5 837. 5 9 6 7 .,8 1 0 6 7 ,.6 Total 354. 2 4 4 1 .2 487. 6 545. 4 6 2 6 .,9 693. 4 817. 4 9 4 5 .,5 1 0 4 3 ..4 Tangible 3 4 5 6 147. 28. 64. 55. 8 3 2 3 181 .. 1 30. a 72. 4 78., 0 196. 1 34. 2 8 7 .6 74. 3 209. 5 36. 8 9 7 ., 1 75. 5 219. 3 3 9 .,7 107. 4 72. 2 240. 44. 120. 75. 278. 50. 136. 92. 7 2 0 6 .4 2 6 0 ., 1 2 9 1 .5 3 3 5 .. 9 4 0 7 ..6 453. 2 8 12. 5 6. 9 5. 5 4., 7 0..8 9 10 11 12 13. 8 7,. 1 6.. 2 5..2 0.. 9 6. 9 6. 9 5. 8 1 .1 14..8 6..9 7 .8 , 6..5 1 ., 4 2 5 6 2 Land 7 .1 13. 0 10. 9 2 1 7. 3 14..9 12..4 2,.5 7..4 16,.8 13..7 3.. 1 1 0 3 ,.2 1 18., 9 136. 6 162..5 178.. 7 122. 2 72. 8 28. 2 21 . 2 1 4 5 ,.7 8 6 ..8 31 ., 0 27..9 161 .5 97,.5 .6 31 , 32,.4 65..4 39,.8 17.. 2 8..4 73. 44. 18. 10. 8 2 ,. 1 4 9 .9 20..2 12 . 1 92,.2 55..4 23..2 13..5 1 0 5 .,9 6 3 ., 9 25..7 16. 3 Id 6 .5 . 7 .5 9 .3 11.. 0 13..0 4 6 8 .. 7 4 4 3 ,.5 2 8 .2 703.8 7., 0 11 ., 1 9 .2 1 .9 56..8 35.,4 14,,3 7.. 1 419. 8 395. 8 23. 9 6 3 5 ., 7 6..9 9..3 7 .7 . 1 .6 . 14 15 16 17 381 . 7 3 6 0 .8 . 9 20 , 538. 7 24,,2 91 , .5 3 0 3 ,. 4 287 . 2 16,.2 Reproducible assets Residential structures Nonres. plant 8 equipment I n v e n t o r ies 2 2 .,2 81 .7 8. 3 339. 7 6 0 ,3 1 7 4 ..5 104. 9 20. 2 72.. 9 5 6 0 .. 0 5 3 5 .8 34..2 592. 5 5 5 3 ., 7 38..8 1 2 assets 309. 9 5 5 ., 0 156. 9 9 7 .,9 18., 1 63,.3 assets 7 0 6 1 16 . ,3 13 3 9 2 2 14. 4 701 . 0 653. 4 47. 5 16,.8 17,.2 805.3 7 4 9 ,. 1 5 6 ,.2 8 8 8 ,.9 8 2 5 .8 63. 7 6 7 .8 850.1 Total assets C h e c k a b l e dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in G S E s (2: Total Ncnfarm Noncorporate 6 8 9 10 11 12 liabilities Credit market instruments Mortgages Bank loans n.e.c. Other loans Trade 14 15 16 17 debt 19 20 21 Net worth Noncorporate Corporate Memo: Total 3 4 5 7 financial real estate (3) (1) C o r p o r a t e and n o n c o r p o r a t e f a r m s . ( 2 ) S h a r e s in F e d e r a l I n t e r m e d i a t e C r e d i t and F e d e r a l Land B a n k s . (3) 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. 3.103 Outstandings 1977 1 13, 3 Business C1) 2 19 20 21 Noncorporate Business Banks Business 1 5 4 3 .. 0 638. 4 7 2 1 .. 9 777. 3 8 5 1 .,8 965.6 1 1 2 3 ..7 1338. 3 1558. 9 Total 2 4 9 6 ., 9 574. 0 6 5 2 .. 7 7 0 6 .2 7 7 1 .9 8 6 9 ., 0 1 0 0 6 .,5 1 1 3 9 .4 1411 .1 Tangible assets 3 4 5 6 3 8 2 ,, 9 224. 3 134.. 6 24,, 0 439 .1 2 5 7 .8 1 5 4 ., 0 27 .3 4 9 7 ..4 2 8 8 .. 4 179 .5 29..6 536. 5 3 1 3 .. 1 1 9 6 ., 1 27. 3 5 8 1 ., 0 3 4 3 .. 7 239. 3 2 7 ,9 654. 392. 232. 29. 3 3 5 5 753.8 4 5 3 ..8 267 3 32..6 393. 8 547. 3 313. 5 35. 5 1033. 4 6 3 8 .. 4 359. 7 35. 3 1 3 5 .. 0 2 5 2 ,.7 305. 6 377. 7 1 1 7 ., 2 138. 9 147. 8 assets Reproducible assets Residential structures Nonres. plant & equipment Inventories Land 3 4 5 6 7 7 114.. 0 1 5 5 ..3 169 .7 1 9 0 ,.9 2 1 4 .,8 8 46.. 1 64. 3 69..2 71 . 1 79..9 9 6 ..6 9 10 1 1 12 13 14 12..5 4..6 1 ,. 1 3 6 3., 0 8..8 16. 9 6 .2 1 .2 3. 9 3., 3 18. 6 17. 3 7 .8 . I .. 2 4., 0 3.. 4 20.. 4 17. 8 8 ., 1 1 .3 4.. 0 3. 3 21 . 2 19 . .8 9..5 1 .5 4. 3 4..2 22.0 22. 4 12.1 2..4 4., 1 5..5 26 . 2 25.,6 15..5 3. 2 4. 3 8., 1 31 ..5 28. 3 21 . 3 2. 8 4. 5 1 1 .0 34. 9 31 . 1 24. 2 2. 6 4. 4 12. 2 36. 5 Checkable dep. & currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 9 10 11 12 13 14 15 16 1 7 18 12..5 8.. 3 0.. 2 4,. 0 14. 2 9 . .2 0 . 2 4,, 7 15.. 1 1 0 .. 2 0, .2 4.. 7 15.. 4 11 .5 0 .3 3..7 18..6 13..5 0. 4..8 23.. 9 16 . 0 0 . 4 7..4 2 9 .. 1 18., 9 0 .5 . 9..6 3 6 ..1 21 .8 0. 6 13. 7 36. 8 24. 3 0..8 1 1 .7 Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 4 ) Other 15 16 17 18 1 6 3 ,, 6 2 0 0 ., 2 2 4 1 .5 2 6 1 .. 0 2 8 7 .,4 3 2 5 .. 0 3 7 9 .. 6 4 5 7 .0 5 2 4 ., 0 20 21 22 23 24 151 . 7 114..5 19..7 70 . 6 24. 3 172, 5 1 1 6 ., 4 23.,6 8 0 ..6 12., 1 2 0 8 .. 3 . 9 140 , 26..6 87 . 4 26 . 9 2 2 5 ..3 1 5 2 .. 4 2 8 ..5 8 8 .. 0 3 5 ..9 247 , . 0 1 6 4 ,.1 30,.5 92,.8 4 0 .. 7 2 7 9 ,. 0 1 8 0 ,,8 33.. 1 101., 1 4 6 .6 3 2 7 ,. 1 2 0 5 .. 0 36..5 Ill . .8 5 6 ..7 3 9 3 ..1 247. 2 42. 0 121 .. 4 83. 7 4 4 9 .2 292. 8 49.. 4 128. 7 114..8 25 26 13. 7 23.,5 28..6 27. 5 36.. 0 31,.5 37., 7 35..3 40..4 42..6 46..4 51..9 5 9 .6 6 2 .4 7 2 ..8 73. 2 75..3 81 ., 1 6..6 20..6 7 .8 , 2 2 .3 8..9 23..8 10..0 2 5 .6 12. a 3 1 ..7 15..3 36..4 Taxes Trade 8..5 10..4 13. 3 17 .0 19. 3 2 3 .1 Miscellaneous 6 4 0 ..6 744. 1 881. 3 1 0 3 4 ,.9 Net 1234. 3 Memo: Total 19 27 28 2,,5 5,, 1 4.. 0 17,.7 5 .5 20 . 1 29 4,.1 6..0 7 .5 30 3 7 9 .4 4 2 3 .3 31 4 3 8 .. 2 491 , .5 4 8 0 .. 4 556 . 7 5 1 6 .. 3 6 0 5 ..5 5 6 4 ,. 4 6 6 4 .6 . 0 751 , 871 . 0 1 0 4 1 ., 0 (4) (5) Data are in billions of dollars. Total Total financial assets liabilities 19 Credit market instruments Mortgages Home mortgages Multifamily Commercial Bank loans n.e.c. Other loans payable debt 20 21 22 23 24 25 26 27 28 liabilities worth real 8 estate (5) S h a r e s in B a n k s f o r C o o p e r a t i v e s . Lines 4 • 7 • nonresidential plant from l i n e 5. 29 M a r c h 9, F a r m and 1994 Nonfarm Noncorporate Business 2 q Vear-End Farm B.102-B.103 Balance Sheets of Unincorporated 7 8 assets 1982 1983 1984 1988 1989 1043.6 1 0 5 2 ., 1 9 5 0 ..4 8 6 4 ,. 0 8 1 2 .5 856. 2 8 8 3 ,. 7 9 1 0 ,. 0 1 1 0 4 7 ,.1 1015.6 1 0 2 2 ,.6 9 2 0 ..6 8 3 0 ,. 6 7 7 6 ,,8 8 1 6 ,, 7 8 4 0 ,, 9 865 . 0 2 3 4 5 6 3 4 0 .. 6 65.,5 178..5 .6 96 , 331 , .5 66 . .8 1 7 4 ,, 2 90 , .5 330 , . 9 69 ..3 1 7 0 ., 7 90 .. 9 3 3 1 ,. 4 68., 1 167.. 9 95..4 3 3 5 ,.7 70,.2 169,. 1 96 , .3 Land 6 9 5 .4 659.3 6 6 7 ,.6 570 • ,8 4 9 0 ., 1 443 . 3 4 8 5 .. 9 financial assets liabilities Trade Memo: 22 Total real 5 0 9 ..5 5 2 9 .. 4 7 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 21 ., 3 17 . 4.. 2 8,. . 21 , 17.. 4.. 9 . 24,. 2 0 ,. 4., 1 0 ., 1 . 6 27 , 24, 2 3,. 4 9., 29 ., 26 ., 3., 10., 32,, . 29 , 3.. 4 4 4 0 1 0 .5 . 34. 5 32., 4 2.. 2 9 10 11 12 estate (3) C o r p o r a t e a n d n o n c o r p o r a t e f ar -ns. S h a r e s in c e d e r a l I n t e r m e d i a t e C r e d i t and F e d e r a l Land B a n k s . Lines 4 + 7 + nonresidential plant from line 5. 1 Total assets assets Reproducible assets Residential structures Nonres. plant & equipment Inventories Land Total financial assets 0 3 4 0 9 6 7 0 195.. 4 203. 1 2 0 6 ..5 2 0 4 .. 4 1 3 8 ., 0 165., 9 1 5 3 .. 7 1 4 8 .. 7 146., 0 13 184.5 111.3 36. 1 37. 0 1 8 8 ..4 113., 7 3 8 ,,9 35.. 7 .9 137 , 1 1 2 .. 4 39 , . 9 35,.6 1 7 3 ., 4 1 05., 9 3 5 ..5 3 2 .. 1 1 5 6 .. 0 95..2 31 . .2 29 ., 6 1 4 4 .. 8 7 ., 29 .. 2 7 ., 1 3 3 .. 9 8 3 .. 1 29 .3 21 ., 0 134., 4 80 , ,5 30.,8 23., 1 14 15 16 17 14..8 11 .6 18 9 .9 . 4 7 1 6 18.6 18., 1 8 7 7 .8 8 1 5 .. 1 6 2 ,,7 840.5 780.4 60.1 8 4 5 ..6 7 8 4 ,, 6 61 ., 0 7 4 5 ., 9 6 9 3 ., 1 5 2 .8 6 7 5 ., 9 6 2 7 .. 7 48. 2 6 4 6 .,6 5 9 9 ..8 46 ., 7 7 0 2 ,.5 649 , .7 5 2 ,.8 7 3 5 ., 0 6 7 8 ..8 5 6 .. 1 7 6 4 ., 0 7 0 4 ..7 59 . 3 19 20 21 8 5 1 ..7 819.1 8 2 9 .3 7 3 5 ,. 0 6 5 7 ., 0 6 1 3 ., 3 6 58. 6 682. 2 7 0 4 ,3 22 16..5 14,. 6 9.,4 Banks B.103 2 Tangible 3 4 1 3 177..8 107.,2 32.9 37..6 17..6 debt Net worth Noncorporate Corporate 7 1987 3 4 9 ..9 65.. 0 1 8 4 ,. 0 1 0 0 .. 9 18 8 1986 (1) 3 5 5 ., 0 6 4 ,.5 1 8 7 ,.3 1 0 3 ,,2 Credit market instruments Mortgages Bank loans n.e.c. Other loans 3 4 5 6 Business 356.3 64.3 188.4 103.6 Total (3) * Outstandings 1 0 7 3 ,.2 Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 2 ) (1) (2) 1985 Farm Business 351 . .7 63,.4 1 8 6 .9 101 . 4 14 15 16 17 19 20 21 Noncorporate Reproducible assets Residential structures Nonres. plant & equipment Inventories Total 9 10 11 12 13 assets Tangible 3 4 5 6 Nonfarm Year-End B.102 1 Total and Business Outstandings 1981 2 Nonf inancial Nonfarm Noncorporate Business 1780 .1 1 9 0 1 .. 1 2 0 4 2 .. 9 2252 - 1 2 4 8 8 .8 . 3 2686 , 2 8 4 3 .5 3 0 1 7 .. 9 3 2 1 6 ., 1 1 1587. 9 1703. 3 1 8 1 2 ,. 3 1 9 7 3 .. 6 2 1 7 0 .5 2 3 2 9 .. 0 2472 . 0 2 6 0 5 ., 7 2 7 7 6 ..5 2 1158. 708. 415. 34. 1 2 1 0 ..8 731 .8 444. 9 34.. 1 1 2 5 2 ,7 58,. 459 , . 34,. 1322 794 490 37 1 4 1 0 ,.5 8 4 2 .6 5 2 8 .3 39 , .6 1496 . 2 8 9 2 .3 5 6 5 ..5 38.. 4 1 5 9 5 ,.8 9 5 3 .. 0 6 0 0 ,.3 42,. 0 1 6 5 8 .. 0 9 6 3 ..5 6 4 9 •2 45., 3 1 7 5 2 ,. 1 1 0 1 0 ..7 6 9 2 ..2 49 . 3 3 4 5 6 1 024..4 7 4 3 9 ..6 8 8 7 3 3 1 1 6 4 .2 .6 ..2 . .4 429. 1 492. 5 560 . 2 6 5 1 ..5 7 5 9 ,. 9 8 3 2 .. 7 3 7 6 ..3 947 , .3 192. 2 197. 8 2 3 0 .,6 2 7 8 ..5 3 1 8 .3 3 5 7 ,.4 3 7 1 ..5 4 1 2 .. 1 9 10 11 12 13 14 Checkable dep. & currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 33. 3 34. 7 3. 3 4. 4 20. 3 4 0 .9 3 6 ..8 3 8 .. 1 3. 2 4, 5 2 5 ., 0 48. 5 45., 0 5 1 .. 7 6.- 0 5,. 1 29 , 3 55, 3 49 ,.8 6 5 ., 1 5,.5 5,.5 39 , 3 61 ,.8 61,.3 76 . .6 5,.8 5 .9 44.. 0 65.. 9 67 , . 3 8 7 ..3 6 . .9 6..2 46 .. 7 72.. 2 6 9 ..8 8 6 .. 0 6 .5 6 .5 , 41 .. 1 8 0 ..5 77 ,.5 95, 3 7.. 0 6 . 9 43,. 3 9 2 .3 81 ..8 103..9 8., 4 7.. 0 41 .. 1 99.. 9 9 1 0 11 12 13 14 15 16 17 18 Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 4 ) Other 55. 3 26. 3 0. 8 28. 1 41 .8 28..4 0..9 12..5 38.. 1 23..8 0..8 13,.5 51 ,,6 34..8 0.. 9 15. 9 5 9 ,. 0 39..6 0 .8 , 18,.5 70..3 45.. 0 0..8 24, 5 8 1 .. 0 5 1 ., 7 0 , . 7 28..5 89 , .8 56 , .6 0..7 32, 5 97 . .5 60..4 0. 8 36. 3 15 16 17 18 19 Total liabilities Credit market instruments Mortgages Home mortgages Mult ifamily C o m m e r c ial 20 21 22 23 24 Bank loans n.e.c. Other loans 25 26 27 28 Taxes Trade 29 Miscellaneous 30 N e t 31 payable debt liabilities worth Memo: Total real estate (5) ( 4 ) S h a r e s in B a n k s f o r C o o p e r a t i v e s . (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. Data are in billions of dollars. 582. 3 6 7 0 ., 1 7 7 2 ..5 9 2 2 ..5 1 1 8 8 ., 1 1 2 7 5 ., 1 1 3 5 3 .. 3 1 4 2 4 ., 4 19 493. 9 316. 1 55. 5 128. 2 132. 4 565. 5 3 9 2 ., 1 65. 6 131 . 6 1 9 4 ..9 6 5 2 .. 1 4 6 6 .. 1 94, 6 1 4 6 .,2 2 2 5 ,.2 7 7 5 ..5 554. 3 1 0 2 .,2 1 7 0 .,4 2 8 1 ,, 7 9 0 8 .. 7 6 6 7 .. 0 1 1 2 ..5 1 9 9 ..6 3 5 4 .,9 1 0 1 4 ..3 746. 8 1 1 9 .. 4 2 3 5 ,. 1 3 9 2 ., 3 1 0 9 0 ,8 . 7 9 7 .5 1 2 6 ., 1 2 5 8 .. 6 4 1 2 ., 9 1150. 830. 132. 273. 424. 1 1 9 9 ..6 8 6 5 .-0 138.. 7 286. 5 439. 3 20 21 22 23 24 85. 5 92. 3 76.. 0 9 7 ,.4 75,.5 n o . .6 9 2 ,.4 1 2 8 ,.8 98..5 143.. 2 1 1 0 ..5 157 , .6 1 1 6 ..6 176 . 7 123.,6 2 1 1 ..1 25 26 13. 7 41 . 6 15..2 45. 3 17.. 1 45..8 18,.2 5 1 ,.5 21 ,.6 5 6 ,.9 23.. 3 61 ,. 1 23..9 68. 6 26 .3 72..8 31 . 4 79..8 27 28 33. I 4 4 ., 0 5 7 ..5 77., 4 8 5 ..7 8 8 .,9 91 . 9 1 0 3 ..3 113..6 29 1197. 8 1 2 3 1 .. 0 1270. 3 1 3 2 9 ..7 1 4 1 5 ,.9 1 4 9 8 ..2 1 5 6 8 ..4 1664. 6 1 7 9 1 ..7 30 1390. 5 1 4 9 5 ..3 1 5 9 5 ..6 1 7 4 0 ..5 1 9 2 0 ..8 2 0 6 2 .. 7 2 1 8 8 ..9 2 3 0 0 ..5 2 4 5 0 .-0 31 1 0 7 2 ..8 4 6 5 9 2 121 ., 0 1 9 8 ..8 M a r c h 9, 1994 F a r m and Non farm Noncorporate Business Farm B.102-3.103 Year-End Balance Sheets of Unincorporated Nonfinaneial and Nonfarm Noncorporate Business Outstandings 1990 Year-End 1991 1992 Farm Business (1) 1 921.2 9 1 1 .7 925.6 9 3 5 .2 Total 2 872.9 8 6 0 .4 873.7 8 8 4 .2 Tangible 3 4 5 6 336.4 72.4 169.3 94.7 331 74 166 90 . 0 .0 .4 .7 3 3 1 .2 74.8 161.3 95.1 3 2 3 ..3 7 7 .5 1 5 3 ..9 91,.9 529 . 4 7 536.5 542.5 561 , . 0 8 48.3 51 .3 52.0 5 1 ,. 0 9 10 11 12 10.9 37.5 35.5 2.0 11 .8 39,.5 37 3 2,.2 13.6 38.3 36.2 2.1 14.. 0 37,. 0 3 4 ,.6 2 .4 13 145.1 1 4 7 .. 0 144.1 1 4 7 ,.8 14 15 16 17 134.9 78.4 32.9 23.6 134,.8 79.. 1 3 4 ,.6 21. 136.0 80.4 34.7 20.9 1 3 8 .. 0 80. 8 3 6 ..8 2 0 ..4 18 10.2 19 20 21 776.1 714.7 61.4 22 713.0 8.1 9..8 7 6 4 ., 7 703. 3 61 .,4 781.6 717.8 63.8 787. 4 722. 6 64. 8 7 0 S .,2 717.3 733. 3 assets C h e c k a b l e dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 2 ) Total liabilities 8 9 10 11 12 13 14 15 16 17 Trade 18 debt Net worth Noncorporate Corporate Memo: Total Noncorporate 3 4 5 6 Credit market instruments Mortgages Bank loans n.e.c. Other loans real 19 20 21 estate (3) C o r p o r a t e and n o n c o r p o r a t e f a r m s . S h a r e s in F e d e r a l I n t e r m e d i a t e C r e d i t and F e d e r a l L a n g B a n k s . Lines 4 - 7 * nonresidential plant f r o m l i n e 5. 22 Banks Bus iness 1 3169.2 3 0 6 4 .9 2957 . 9 2 9 0 5 .9 Total 2719.5 2 6 1 9 .6 2 5 1 1 .9 2 4 5 5 .4 Tangible 3 4 5 6 1813.5 1044.4 718.3 50.8 1836 1064 722 49 1868 1097 720 50 1866 . 7 1 1 4 8 .4 6 6 6 .2 52. 1 . 0 . 1 . 7 .2 2 7 financial 2 .2 . 1 .5 .6 1 assets Land Total (3) Nonfarm assets Reproducible assets Residential structures Nonres. plant 8 equipment I n v e n t o r ies CI) (2) 3.103 Outstandings 1993 3.102 12,,2 Business ^ ^ assets 1 assets 2 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 3 4 5 6 7 906.0 7 8 3 .3 6 4 3 .9 5 8 8 .7 8 449.7 445 . 4 446 . 0 4 5 0 .5 9 10 11 12 13 14 81.3 104.7 9.4 7.1 38.4 104.8 81 . 4 1 0 1 .3 9 3 6 .6 3 4 .8 102..4 8 2 .. 1 95,.8 10,. 6 6..9 30..8 1 0 8 ..4 8 4 .. 1 92..8 12,. 0 7.. 7 26,. 1 1 1 6 .. 6 Checkable dap. & currency Time deposits U.S. government securities Consumer credit Mor t g a g e s Trade credit 9 10 11 12 13 14 15 16 17 18 104.0 63.5 0.6 40.0 109..7 66.. 1 0 .6 , 43..0 111. 3 6 7 .,8 0. 6 42. 9 1 1 1 ..3 68. 9 0..8 41 . 6 Miscellaneous assets Insurance receivables E q u i t y in G S E s ( 4 ) Other 15 16 17 18 Land Total 19 1455.9 1433, 5 1411 .0 1407. 9 20 21 22 23 24 1219.0 875.5 144.7 287.2 443.6 1192. 3 6 6 7 ,8 1 4 9 .. 3 2 8 4 ..2 434.3 1 1 5 4 .5 832. 4 153. 9 272. 6 405. 8 1135. 816. 159. 267. 389. 25 26 126.5 217.1 112. 2 212. 4 107. 6 214. 5 27 28 32. J 31 .9 32. 5 77. 9 S3. 1 8 3 ..8 3 3 ,.8 9 1 ..1 29 123.0 130. 8 139. 6 1 4 7 .8 30 1713.3 1 6 3 1 .4 1546. 9 1498. 0 Net 2160. 7 Memo: Total 31 2383.4 2282. 9 2 1 7 7 .0 Total 2 2 0 7 5 are In billions of dollars. assets liabilities 105.9 2 1 3 .. 1 Bank loans n.e.c. Other loans Taxes Trade payable debt Miscellaneous 20 21 22 23 24 25 26 27 28 liabilities worth real 8 19 Credit market instruments Mortgages Home mortgages Mult ifamily C o m m e r c i al (4) (5) Data 7 financial 29 30 estate (5) S h a r e s in B a n k s f o r C o o p e r a t i v e s . Lines 4 + 7 + nonresidential plant from l i n e 5. 31 M a r c h 9, 1 9 9 4 Nonfarm Nonfinancial Corporate Business 32 Year-End 1 Total 2 of Nonfarm N o n f i n a n e ial Corporate assets assets (current cost) 1945 1946 2 0 5 .6 242.9 2 8 7 ..2 3 1 3 .6 1 3 6 .8 175.7 2 1 1 ,3 2 3 2 .2 1 1 5 .6 0,.9 8 4 .6 30,, 0 146.5 1.1 103.3 42.1 174. 8 1 .3 . 124. 6 48. 9 194 1 139 54 198 . 0 1..6 1 4 7 .3 49 . 1 Land Total Sheet N o n f inane ial financial Corporate assets 1947 1948 . 9 .4 .2 .2 1949 Business Business Year-End Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 7 Nonfarm Balance Outstandings Tangible 3 4 5 6 8 B.104 1950 1951 3 2 1 .3 3 6 9 ,.6 408 . 7 4 2 8 ..6 4 4 6 .6 1 236 . 0 2 6 7 ..5 2 9 8 ,.7 3 1 3 ..1 328 . 0 2 2 2 5 .. 1 1..8 1 6 2 ..7 60..6 252 . 0 1,.9 180 . 0 7 0 .2 2 6 5 .. 1 1.,9 1 9 1 ..9 71 . 3 2 7 8 ..2 2. 0 2 0 3 .. 1 73 . 1 3 4 5 6 21..2 29.2 3 6 ..6 3 7 .3 38..1 42..4 6 8 .8 67.2 75. 9 8 1 .4 8 5 ..3 1 0 2 ., 1 1952 Outstandings 1953 4 6 .6 47. 9 49 .9 7 1 1 0 ..1 115. 5 118..5 8 9 10 11 12 13 14 15 16 17 18 Liquid assets C h e c k a b l e dep. 8 currency Small time 8 savings dep. Large time deposits M o n e y m a r k e t fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt securities Commercial paper 3 8 .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 4 3 ,.8 2 4 ..2 0. 2 0. 7 4 6 .4 25..9 0. 2 0,. 7 46 .3 2 6 ..6 0. 2 0. 7 48..0 26 . 6 0..2 0,.7 18,.5 0, 3 0.1 12.8 0.3 0. 1 12. 3 0.,4 0.. 1 12..9 0..5 0-.2 14,. 7 0..5 0. 3 0.. 1 17. 9 0. 7 0.. 1 0.. 1 18.. 7 0..8 0., 1 0. 1 17. 6 0 .8 0. 2 0.. 1 19..2 1 ., 0 0.. 2 19 20 21 22 23 24 25 26 27 Consumer credit M u t u a l fund shares Trade credit Miscellaneous assets F o r e i g n d i r e c t invest. (1) Insurance receivables E q u i t y in G S E s ( 2 ) I n v . in f i n a n c e c o . s u b s . Other 2..8 3.3 4. 1 4..9 5..5 19,.8 7,.5 7..0 0,,4 22.6 7.7 7.0 0.7 27. 6 9. 1 8. 1 1. 0 29,.6 10,.6 9,.3 , 1 .2 28..6 11 ,.9 10..4 1 .4 . 28 Total * 0.. 1 liaoillties 29 30 31 32 33 34 35 Credit market debt T a x - e x e m p t detit ( 3 ) C o r p o r a t e b o n d s (1) Mortgages Home Mult ifamily C o m m e r c ial 36 37 38 Bank loans n.e.c. C o m m e r c ial p a p e r Other loans 44 Net worth * 0.. 1 0.. 1 0..2 ;.1 7..3 9 i 6 .3 14. 3 1 .7 45. 0 18. 2 15. 7 1 .8 . 0. 3 0. 4 0..7 1 3 8 .. 0 144. 1 149. 4 28 92. 8 19 20 21 22 23 24 25 26 27 79.1 91. 9 1 0 0 .,8 43. 6 49.4 56. 6 62. 9 6 5 ., 1 72. 1 8 1 ..3 88. 2 23. 9 8. 6 0. 3 2.. 1 6.,3 24.9 9.9 0.5 2.3 7.1 27. 7 11. 3 0. 7 2. 5 8. 2 32 . 0 12.. 7 0.,9 2. 7 9., 1 34. 9 13. 9 1 . 0 2. 8 10.,0 36. 5 15. 4 1 .6 3. 3 10. 5 3 9 ..8 16. 8 1. 7 3. 5 11.. 7 44. 5 17. 9 1 .9 3. 7 12. 3 4 8 .. 0 19.. 1 2.. 1 3..8 13. 2 29 30 31 32 33 34 35 8.,9 0., 1 2., 1 12.5 0.1 2.0 15. 5 0. 2 1 .9 16.. 1 0. 2 1. 9 14. 2 0. 2 2.. 0 17. 9 0. 2 2. 1 2 2 ..1 0. 3 2. 3 22. 9 0. 3 2. 6 22. 4 0..4 3. 0 36 37 38 10., 1 14. 6 1 .5 1 .5 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. 33. 2. 2. 1 1 3 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 39 40 41 42 43 135. 7 163.7 195. 3 212. 8 220. 8 246. 0 270. 7 284. 5 297. 2 44 78.7 98.4 118.3 125.2 128.3 140.0 153.0 160.2 16 6 . 6 45 1 0 0 .,5 123. 6 7..2 4 2 ..0 14. 5 12.,6 1 .5 6 9 ,.8 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund c o n t r . p a y a b l e 39 40 41 42 43 " 6. 6 3 8 ..6 13.. 0 11 . 4 1 ,4 . 9 10 11 12 13 14 15 16 17 18 Memo: 45 Total real estate (4) M a r k e t v a l u e of e q u i t i e s , 46 including corp.farm equities 47 D e b t - n e t w o r t h r a t i o ( 2 9 / 4 4 ) 48 D e b t - e q u i t i e s ratio (29/46) R a t i o of m a r k e t v a l u e 49 to n e t w o r t h ( 4 6 / 4 4 ) Tangibles and net worth on Total 51 52 53 54 55 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventor ies (5) Net worth 58 Total 59 Debt-net (6) real estate worth 84.9 83.9 92.2 116.6 138.3 137.8 134.9 46 28.9% 66.6% 29.5% 75. 0% 29.4% 7 0.6% 29.3% 61.8% 30.0% 5 8 . 7% 30.9% 6 3. 9 % 31.2% 68.8% 47 48 64.6% 50.8% 43.4% 39.4% 41.7% 47.4% 51 . 0 % 48. 4% 45. 3% 49 185.. 1 2 1 3 ..8 236. 4 2 4 7 ..4 2 8 5 ,.7 3 1 7 ,.7 3 3 8 ..1 3 5 7 ,.3 50 1 1 7 ,.9 1 1 3 ,.8 0,.8 75,.4 37..5 1 3 8 ..0 1 3 2 .,5 0. 9 8 7 .. 3 44..6 1 5 5 .,0 150. 0 1. 0 100. 1 4 8 ..9 1 6 2 .. 1 1 5 7 ..4 1.. 1 Ill ..0 4 5 ..3 1 8 3 ..7 1 7 8 ..8 1. 2 122. 5 5 5 ,, 1 2 0 7 ,.6 202. 5 1 .3 1 3 6 ..4 6 4 .,8 2 2 2 ..6 2 1 7 ..4 1..3 1 5 0 ..1 6 6 .. 0 2 3 8 ..8 2 3 3 ,.4 1 .4 1 6 4 ,.6 67..4 51 52 53 54 55 basis: 167..8 Land 57 83.2 30.1% 59.3% historical-cost 50 56 assets 87.8 32.1% 49.7% 99 . 0 9 5 .2 0..8 68..2 26. 3 3 .8 4,.2 5..5 5. I 97..9 106..0 1 2 1 ..9 135. 6 44.5% 46.5% 46.4% (7) ratio (29/57) (1) C o r p o r a t e b o n d s I n c l u d e n e t 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. direct 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 i s s u e s . ( 2 ) E q u i t y in t h e 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 . (3) I n d u s t r i a l r e v e n u e b o n d s . I s s u e d by s t a t e and l o c a l g o v e r n m e n t s to f i n a n c e p r i v a t e i n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . Lines 4 • 7 • nonresidential plant f r o m l i n e 5. (5) L i n e s 8 • 51. ( 6 ) L i n e s 50 - 28. (7) L i n e s 5 3 + 56 nonresidential plant from line 54. Data are in billions of dollars. 4,.7 1 4 6 .,9 4..9 1 6 2 .. 1 5..1 5..2 5. 3 56 1 7 9 ..7 1 9 4 .,0 2 0 7 ..9 57 56.8 61.0 66.6 72.4 73.8 58 44.3% 44.5% 45. 2% 4 5 .4% 44.6% 59 (March 9, 1 9 9 4 Nonfarm Nonfinanelal Corporate Business B.104 Year-End Nonfarm Balance Sheet of Nonfarm N o n f i n a n e ial Corporate Nonfinancial Year-End 1954 1955 1956 1957 1 4 6 0 .3 5 0 9 .5 557, 3 5 8 7 .6 6 0 7 .6 2 3 3 6 .3 368 . 0 4 1 0 ,.8 4 3 6 .6 4 4 5 .1 3 4 5 6 286 2 212 71 313 2 231 79 3 4 9 .. 0 2..2 2 5 9 ,.3 8 7 ,.5 370 2 279 89 377 2 287 86 395.3 2.9 299.7 92.7 .3 . 1 .7 .4 .8 .3 .2 .3 7 50,.0 5 4 .7 61 ..8 8 1 2 4 .0 141 .4 1 4 6 ..4 151 . 0 9 10 11 12 15 14 15 16 17 18 4 8 .4 2 8 .3 0 .3 0,.8 5 3 .4 29 .3 0 .2 0 .8 4 8 ..9 29.,0 0. 2 0. 8 4 8 .5 29 . 0 0 .2 o,.8 0, 2 17,.5 1 ., 0 0..3 0 21 1 0 0., 1 17., 1 1. 3 0. 3 0 16 1 0 19 20 21 22 23 24 25 26 27 . 1 .6 .2 .2 6 5 .8 .1 . 4 .5 .4 1958 .3 .6 .9 .8 1959 1960 1961 641.2 657.4 6 8 3 .7 7 1 5 .2 Total 463.5 476.8 4 9 0 .5 5 0 9 .9 Tangible 406.6 3.2 307.8 95.6 416 3 315 97 433 4 326 102 .7 .6 .2 .8 .2 .3 .1 .8 6 7 .8 68.3 70.2 7 3 .8 7 6 .7 177.6 180.5 1 9 3 .2 2 0 5 .3 51 .0 30 . 1 0 .5 1,.4 56.2 29.2 0.4 l.l 51.4 28.2 0.7 2.3 5 4 .8 31,.7 1,.0 3 . 1 5 7 .9 3 4 .6 1.2 3 .8 0,.1 16..7 2.. 0 0. 2 0.1 22.8 1.8 0.7 0.1 16.9 2.4 0.8 0..2 15,.3 2,.4 1,. 1 0,.8 13,.6 2 .7 1,.3 9,.6 8 8 ,.3 40.,5 33.,4 5..1 0.. 1 10,.4 0, 2 92,.8 4 4 .. 0 35..8 5..7 0.. 1 1.8 1..9 2..4 7,.7 8 .3 8. 6 8 .7 58 . 0 21..6 18,. 7 2 . 0 63. 8 25. 1 21 . 7 2. 4 6 5 .4 28,.4 2 4 .5 3..0 0,.7 0,. 9 1 .0 0,.9 0..9 1 7 5 .. 0 188. 9 198..7 208. 9 227.4 240.0 255. 2 2 7 3 .. 1 106..2 117. 1 127., 1 135. 8 146.3 157.2 167. 4 180. 5 10.1 9.6 77.4 34.0 28.8 4.1 0.1 82.3 37.2 30.7 4.7 0.1 1. 1 assets 1 assets (current cost) 2 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 3 4 5 6 Land 7 Total 48.4 19..6 17., 0 1 ,. 9 8..8 Outstandings 1962 1 6 2 .5 71,.8 30..9 26.. 4 3..5 Business ^ ^ Outstandings .3 . 0 .5 .7 Corporate Business financial assets 8 Liquid assets Checkable dep. 8 currency Small time 8 savings dep. Large time deposits 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 Tax-exempt securities Commercial paper 9 10 11 12 13 14 15 16 17 18 Consumer credit M u t u a l fund shares Trade credit Miscellaneous assets F o r e i g n d i r e c t i n v e s t . (1) Insurance receivables E q u i t y in G S E s ( 2 ) I n v . in f i n a n c e c o . s u b s . Other 19 20 21 22 23 24 25 26 27 28 1 5 3 .,5 29 30 31 32 33 34 35 97. 6 51 .5 20 .8 2. 4 4. 2 14. 2 5 4 .,6 2 2 ,8 2., 6 4., 4 15. 8 58. 0 24. 9 2. 6 4 .4 17. 9 6 4 ,.1 2 7 ., 0 2., 7 4. 5 19. 7 69. 7 30. 1 3. 0 8 22. 3 72.8 33.4 3.2 5.0 25.2 76.2 36.9 3.4 5.2 28.4 80. 6 41 . 3 3. 6 5. 4 32. 3 84. 46. 3. 5. 36. 36 37 38 21 . 7 0. 5 3. 0 25. 6 0 .4 2. 9 30. 7 0. 4 3. 1 31 . 9 0. 3. 8 31 .5 0. 7 3. 8 35.3 0.3 4.5 37.4 0.8 5.8 38. 3 1. 1 6. 0 41 . 9 1 .2 6. 4 39 40 41 42 43 14. 8 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 .8 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. 0 5. 4 1. 6 14. 4 70 .6 7. 6 5. 7 1. 9 44 306.8 334. 4 368. 4 388. 9 398. 7 413.8 417.4 428. 5 442. 1 45 170.8 185.4 206.1 218.2 224.3 230.0 234.8 242.6 250.5 46 47 48 Total 6 4 9 7 7 liabilities 28 C r e d i t market debt T a x - e x e m p t d e b t (3) C o r p o r a t e b o n d s (1) Mortgages Home Multifamily C o m m e r c ial 29 30 31 32 33 34 35 Bank loans n.e.c. Commercial paper Other loans 36 37 38 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund c o n t r . p a y a b l e Net worth 39 40 41 42 43 44 Memo: Total real estate (4) 45 46 202.4 253.9 275.6 233.0 330.8 349.1 345.1 419.9 M a r k e t v a l u e of e q u i t i e s , 379.4 including corp.farm equities 47 48 31.7V. 48.2% 31 . 7 % 41.8% 31 .7% 42.4% 32.67. 54.5% 34. 0% 41.0% 35.3% 41.9% 37.6% 45.5% 39.0% 39.8% 40.8% 47.5% 49 65.9% 75.9% 74.8% 59.8% 82.9% 84.3% 82.6% 97.9% 85.8% 50 3 7 3 .3 4 1 1 .9 4 4 2 .1 4 6 7 .4 4 9 1 .6 5 2 8 .3 550.7 5 8 2 .2 6 1 6 .8 51 52 53 54 55 2 4 9 .3 2 4 3 .8 1 .4 176 . 9 6 5 .5 2 7 0 .5 2 6 4 .5 1 .5 190 . 1 73 . 0 295 . 7 2 8 9 .3 1 .6 2 0 7 .2 8 0 .6 3 1 6 .4 309 . 7 1 .7 2 2 5 .6 8 2 .3 329 321 2 237 81 350 342 2 252 88 370 362 2 267 91 389 379 3 281 95 411 401 3 297 100 Tangibles . 1 .8 .0 .9 .9 .6 .9 .3 .2 .4 . 1 .0 .6 .8 .6 56 5 .5 5 .9 6 .3 6 .7 7 .3 7 .7 8 .1 57 2 1 9 .9 2 3 6 .8 2 5 3 .2 2 6 8 .7 2 8 2 .7 3 0 0 .9 3 1 0 .7 . 0 .8 . 1 .6 .0 9 .2 327 . 1 and net Debt-net worth ratio (29/44) Debt-equities ratio (29/46) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 6 / 4 4 ) worth .5 .3 . 7 .0 .6 historical-cost assets basis: (5) 50 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 55 10 .2 3 4 3 .7 on Total 49 Land Net 56 worth (6) 57 Memo: 58 8 4 .8 91 .3 1 0 0 .2 109 . 1 116 .4 1 2 3 .3 1 3 0 .9 139 . 0 1 4 7 .0 Total 59 44.3% 44.8% 46.2% 47.2% 4 8 . 0% 48.6% 50.5% 5 1 . :IX 52.5% Debt-net real estate worth (7) ratio (1) C o r p o r a t e b o n d s i n c l u d e n e t 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 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 t h o s e bond i s s u e s . ( 2 ) E q u i t y in t h e 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 . (3) I n d u s t r i a l r e v e n u e b o n d s . I s s u e d by s t a t e and l o c a l g o v e r n m e n t s to f i n a n c e p r i v a t e i n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . (4) L i n e s 4 * 7 + nonresidential plant f r o m l i n e 5. (5) L i n e s 8 + 51. (6) L i n e s 50 - 28. ( 7 ) L i n e s 5 3 * 56 • n o n r e s i d e n t i a l p l a n t from line 54. Data are in billions of dollars 58 (29/57) 59 M a r c h 9, 1994 Nonfarm Nonfinancial Corporate Business B.104 34 0 / Year-End Nonfarm Balance Sheet assets (current cost) Reproducible assets Residential structures Nonres. plant & equipment Inventories 7 8 Corporate financial assets 1964 1965 1966 1967 9 4 8 ,. 0 1 1 2 7 .. 1 1 2 5 0 .. 1 1 3 5 4 ..2 1 4 8 4 .5 1 7 2 5 .. 1 7 9 8 ..1 8 8 6 ..6 9 6 8 ..8 1 0 5 7 ,.3 2 . 7 451 , 5,. 1 3 3 7 ..9 108..7 4 7 7 ..6 6.. 0 3 5 5 ..8 1 1 5 ..8 5 1 5 ,.7 6 .9 , 3 8 3 ..6 1 2 5 .2 5 7 3 ..2 7 .9 4 2 2 .9 1 4 2 ,.3 621 , .1 8,.6 4 6 0 .. 0 1 5 2 ,.4 6 8 4 .. 1 10..4 5 0 8 ,,8 1 6 5 .. 0 7 5 6 ..5 12..4 5 6 1 .. 9 1 8 2 ..3 8 2 4 .. 13., 6 2 0 ,. 190.. 79..8 84. 5 2 2 0 .,8 2 3 5 ..5 90 . .8 2 6 3 .. 0 1 0 2 0 ,.8 1 0 4 .. 0 1 1 4 ., 0 130 . 0 144.. 7 161 , .2 7 3 2 8 ., 9 3 6 3 .5 3 8 5 ,. 4 427 8 6 8 ..6 37. 5 2. 3 6..8 69 . 0 43.. 1 0,.9 2.. 7 0,. 7 1 .1 , 9..6 3. 3 4.. 0 1 , 1 1 .6 . 10..4 3.,8 5., 1 3, 3 1. 2 7,,3 2..8 .6 7 , 13..7 0..6 141 . 6 76..7 6 1 .,8 8.. 0 0., 1 13. 3 0.,8 1 6 0 .. 1 85. 6 67. 4 8. 8 0. 2 0..6 0..8 13..8 4..6 1 ,. 4 0,.9 0..9 12,. 1 3,.6 2,, 9 19 20 21 22 23 24 25 26 27 Consumer credit M u t u a l fund shares Trade credit Miscellaneous assets F o r e i g n d i r e c t invest. (1) Insurance receivables E q u i t y in G S E s ( 2 ) I n v . in f i n a n c e c o . s u b s . Other 11. 3 0. 2 9 9 .. 1 48. 8 39..1 6 .0 , 0.. 1 13..4 0.. 4 1 3 3 .,3 69..2 5 5 .. 9 7..3 0,. 1 39 40 41 42 43 3. 6 worth 5. 4 5..8 6 . 7 9 .2 2 9 10 11 12 13 14 15 16 17 18 6 9 .5 44,, 1 , 1 .3 4., 0 78..8 42..6 2.,4 7 . 1 0.,2 0..8 7. 5 2. 2 9., 4 1 .. 1 1 .2 10,. 0 3. 2 11 .3 13. 9 0..7 1 8 3 .. 0 96..8 75..4 9.,9 0.,2 14. 5 0. 6 191 .6 109. 2 8 5 ., 4 10. 8 0. 3 17., 0 0., 7 2 0 4 .. 1 126. 6 96. 9 11.,9 0.,4 11 ..2 12..6 17..5 19 20 21 22 23 24 25 26 27 2 9 6 .. 0 318.0 3 5 2 ., 7 3 8 8 .. 3 4 1 7 .,6 466 . 0 5 1 8 ,.9 556.7 600, 3 28 1 9 3 ,.6 207.3 2 2 7 ..1 2 5 2 .2 2 7 7 .. 0 3 0 5 ..8 3 3 8 ,. 1 369.2 1 0 7 .5 63,.5 5 .5 7..3 50 . .6 1 2 2 ..1 65.,5 5.,9 7..7 51 ..9 1 3 5 ,. 3 69 , .5 6..4 8,.2 54.. 9 147 . 0 72.. 0 7.. 2 8,.9 55..9 166.8 75.4 7.8 9.6 57.9 3 9 6 ..4 0..1 185..6 79,,7 8..6 10..4 60..7 29 30 31 32 33 34 35 98..8 5..4 14.. 9 103.6 7.1 16.3 107..7 6. 2 17., 1 36 37 38 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund contr. payable 44 Net 4. 6 3 4 5 6 2 9 5 .. 7 0. 3 1 . 1 15..5 3.,7 1 .7 13..2 0. 3 1 2 0 ..9 6 5 ..4 53. 2 6 .8 . 0..1 896 . 1 16 . .3 6 7 9 .. 1 2 0 0 ,.7 9 7 .2 0..7 16..7 3..8 1..0 12. 3 0. 3 1 0 7 ..6 53. 6 42. 6 6.,4 0. 1 1 9 1 1 2 7 7 ,.7 63.. 1 3 4 ,.8 2..4 7 .3 , Bank loans n.e.c. Commercial paper Other loans 1971 6 7 0 .. 4 61 ..3 32..4 2.. 1 6..5 36 37 38 1970 6 0 6 ..5 63..2 33., 1 2. 2 6..8 liabilities 1969 8 6 9 .5 6 1 ., 7 3 2 ..7 1. 7 5., 0 Credit market debt T a x - e x e m p t debt (3) C o r p o r a t e b o n d s (1) Mortgages Home Multifamily C o m m e r c ial 1968 Outstandings 7 9 7 .5 61 , 3 33..4 1.,4 4. 3 29 30 31 32 33 34 35 Business 5 6 2 ,. 1 Liquid assets Checkable dep. & currency Small time & savings dep. Large time deposits M o n e y m a r k e t fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt securities Commercial paper Total Corporate 7 5 2 .3 9 10 11 12 13 14 15 16 17 18 28 Nonfinancial Business 531 , .5 Land Total N o n f i n a n e ial Vear-End assets 2 Tangible 3 4 5 6 Nonfarm Outstandings 1963 1 Total of 8 8 ..4 5 2 .. 1 4..3 6..1 41 ,,6 92.4 55.9 4.8 6.6 44.6 9 7 .,3 58. 9 5. 2 7., 0 46 .8 45,.3 . 1 .0 6..9 49.9 1 . 1 8.0 6 0 .. 7 0. 8 9. 4 15.. 7 78..5 8.. 1 .0 6 . 2..2 16.2 85.7 8.8 6.2 2.5 13. 97. 9. 6. 2. 3 7 6 7 9 8 5 ..4 4..2 .6 11 . 69.. 1 1 .6 . 1 0 .5 . 75., 6 3.. 0 10..8 17 . , 4 1 0 8 ..2 10,,5 7 . 1 3,,4 13. 2 1 1 5 .,6 ,8 11 . 7.,8 4., 0 14,.3 1 3 2 .. 6 13..2 8.. 6 4..6 12..6 1 5 3 ., 1 15.. 1 9 .7 , 5..4 10.0 160.2 17.3 11.1 6.2 13., 1 172., 1 18,, 7 .5 11 . 7. 2 39 40 41 42 43 4 5 6 ..3 479.5 5 1 6 .8 5 5 9 .8 603. 2 661 . 1 7 3 1 .2 7 9 7 .5 884, 2 44 258.8 272.2 292.5 316.6 338.9 374.6 421 . 0 467.3 522.4 45 445.3 523.4 574.2 516.4 661.9 750.2 648.5 648.9 765.8 46 46 . 2 % 52.1% 46 . 2 % 56.8% 44.8% 51 . 7 % 47 48 88.6% 81 . 3 % 8 6 . 6% 49 1146.4 1235 . 0 50 Memo: 45 Total real estate (4) M a r k e t v a l u e of e q u i t i e s , 46 including corp.farm equities 47 D e b t - n e t w o r t h r a t i o ( 2 9 / 4 4 ) 48 Debt-equities ratio (29/46) R a t i o of m a r k e t v a l u e 49 to n e t w o r t h ( 4 6 / 4 4 ) Tangibles 50 51 52 53 54 55 Total net worth on worth 58 Total 59 Debt-net (6) real estate worth 43.9% 39.5% 45. 0% 48. 3% 45.9% 41.8% 46.2% 40.7% 9 7.5% 109.1% 111.1% 92. 2% 10 9 . 7 % 113.4% 6 9 9 .2 7 6 9 .2 basis: 6 5 6 .8 Land Net 43.2% 39.6% historical-cost (5) Tangible assets Reproducible assets Residential structures Nonres. plant & equipment Inventories 56 57 and assets 42.4% 43.4% (7) ratio (29/57) 436 424 4 313 106 . 0 .7 .6 .3 .8 463 451 5 332 113 .7 .3 .4 .8 . 1 506 491 6 359 126 .2 .9 .2 . 1 .6 are in billions of dollars 557 540 6 391 142 .3 .9 .9 . 1 .8 11 .3 1 2 .4 14 .4 16 . 4 3 6 0 .8 3 8 1 .2 4 1 6 .5 4 4 6 .7 8 9 6 ..6 600 . 9 5 8 2 ..6 7,.5 4 2 2 .. 0 153,. 1 18,.3 4 7 9 ,. 0 978 . 3 649 630 8 455 166 .4 . 0 .6 .4 . 0 1076 . 0 712 690 10 493 186 .5 . 1 .0 .7 .4 761 . 0 735.6 11.3 531.0 193.3 19 .4 2 2 .4 25.4 5 1 2 .3 5 5 7 .1 589.8 807 780 12 567 200 .7 .7 .9 .5 .4 27 . 0 51 52 53 54 55 56 6 3 4 .7 57 1 5 5 .3 1 6 4 .7 1 7 7 .2 1 9 1 .6 2 0 5 ..6 220 . 1 2 3 8 .9 258.8 2 7 7 .6 58 53.6% 54.:5% 54.!5 % 56. 4% 57.8% 5 9 . 6% 60.1SX 62.5% 6 2 . 4% 59 (1) C o r p o r a t e b o n d s i n c l u d e 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. d i r e c t i n v e s t m e n t a b r o a d excludes net Inflows From those bond issues. ( 2 ) E q u i t y in t h e 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 . (3) I n d u s t r i a l r e v e n u e b o n d s . I s s u e d by s t a t e a n d l o c a l g o v e r n m e n t s t o f i n a n c e p r i v a t e I n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . (4) L i n e s 4 * 7 + nonresidential plant f r o m line 5. (5) L i n e s 8 • 5 1 . (6) L i n e s 5 0 - 28. (7) L i n e s 5 3 + 5 6 + nonresidential plant from line 54. Data 835 . 0 A a r c h 9, 1 9 9 4 Nonfarm Nonfinancial Corporate B.104 Year-End Non farm Business Balance Sheet of Nonfarm N o n f i n a n e ial Corporate N o n f i n a n e ial Business 1973 1974 1975 1976 1977 1664. 7 1916. 7 2198. 2 2419. 2 2654. 6 2966. 8 3393. 3 3 9 2 7 ., 0 4454. 9 Total 1168. 6 1342. 1 1 6 2 1 .7 1792. 2 1965. 9 2187. 0 2485. 4 2863. 9 3 2 7 8 ., 7 Tangible 3 4 5 6 988. 17. 753. 217. 2 6 3 3 1131 .9 18. 7 853. 4 259. 8 1375. 5 19. 8 1024. 5 331 .3 1 5 1 6 .7 20. 5 1158. 9 3 3 7 ., 2 1660. 9 21 . 6 1 2 6 4 ., 1 375. 2 1845. 5 23. 7 1404. 8 4 1 6 .9 2097. 26. 1590. 480. 2 1 6 6 2 4 1 7 ..8 28..9 .8 1819 . 5 6 9 .. 2 2 7 7 0 .7 31 .,5 2095. 2 6 4 4 ., 0 7 1 8 0 ..4 210. 3 246, 2 3 0 5 .. 0 3 4 1 .6 388. 2 4 4 6 .. 0 5 0 8 ., 0 5 7 4 ., 6 4 9 6 ..1 8 8 .. 0 44.. 9 3.. 0 8..9 9 1 0 11 12 13 14 15 16 17 18 2 .7 2,.2 7..9 4. 2 14. 2 5 7 6 .,5 6 2 6 .. 9 6 8 8 ., 7 7,. 0 7.. 4 16..4 3,.4 24.7 . 7 21 • 1 .0 . 2 7 1 .3 2 5 5 .. 1 2 0 2 ..4 23..4 0..5 3 . 0 25..8 22 . 2 0 .8 , 3 0 8 ,. 0 3 0 5 .. 1 2 4 2 ..5 27,.8 0 .5 , 4.. 0 30..3 23. 6 0..6 3 6 4 ,, 4 3 5 6 ., 9 2 7 9 .. 0 3 3 ..4 0..6 5., 3 38. 6 24 . 7 1 ., 1 4 3 4 ,.3 4 3 2 .2 3 3 1 .2 3 8 .9 0 .6 , 6 .4 , 55 . 0 2 5 ,. 2 1 .5 . 482 . 3 4 7 0 ,. 7 3 8 4 ..3 43..6 0..6 7 ,5 , 34.. 7 Consumer credit M u t u a l fund s h a r e s Trade credit Miscellaneous assets F o r e i g n d i r e c t i n v e s t . (1) Insurance receivables E q u i t y in G S E s ( 2 ) I nv . in f i n a n c e c o . s u b s . Other 5,.5 4..9 5 . 6 4..7 16,. 5 4..7 5,.8 14..3 4,.5 19..6 2 3 .7 28..8 26..9 assets 1 9 6 .5 5 7 .. 1 9., 4 28.. 5 7., 0 28.,4 24.,6 18., 7 3.,5 19..4 11 ..3 3. 3 4..5 4.. 0 14.. 9 18.. 7 0..8 269 , .8 1 8 4 ..4 1 3 9 ..5 15..7 0..4 financial 170,.8 5 0 ,.3 8. 3 25.. 1 3 . 0 18,.8 .8 21 • 13,. 1 3 .7 26 .7 1 3 9 ..8 5 6 .. 4 6., 1 18.. 3 17 . 7 0..7 2 3 0 ..5 159..2 121 ..4 1 3,. 7 0..4 cost) Land Total 1 1 7 6 .,2 (current 162. 3 57 .7 7 .7 2 3 ..4 0 .6 16. 2 16.,7 11 .5 3., 7 2 4 .,8 1 2 5 .,2 5 3 ..9 5..6 16..8 19 20 21 22 23 24 25 26 27 1 0 6 3 ,. 1 assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 143. 6 5 9 .2 7. 3 2 2 ., 0 0. 2 8..3 8., 7 10.. 0 3.,5 24..5 1 0 5 ..4 47..8 5 . 1 15..4 19 .8 . 0 .9 2 5 2 .. 5 2 2 8 ..6 1 8 2 .6 20,. 0 0,.4 2,. 0 23..5 907. 9 assets Liquid assets Checkable dep. 8 currency Small time 8 savings dep. Large time deposits 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 Tax-exempt securities Commercial paper 101 .. 0 4 6 ..3 4.. 1 12..5 . 4 19 , 0,.8 2 4 6 ,. 4 2 0 4 .4 1 5 9 .3 17,.8 0.. 4 779. 8 Outstandings 1978 1 275. 5 Business g ^ Year-End Outstandings 2 8 Corporate . 6 1406 , Total 18 19 20 21 22 23 24 25 26 27 liabilities 28 6 6 1 .. 1 7 7 2 ..9 776 . 0 800 , .2 8 7 4 .2 9 7 4 ..6 4 3 0 ..7 0..6 1 9 7 .8 8 5 .4 8 .8 10 .6 66 . 0 4 9 3 ..8 2.. 4 2 0 6 ..9 1 1 5 .. 7 9 . 0 10,.7 96 . 0 547 4 226 115 9 10 95 564 . 1 6. 7 2 5 3 .8 118,. 0 9 .2 11 . 0 9 7 .7 . 0 601 , 9 .2 , 2 7 6 ,.6 1 2 4 .2 9.. 4 1 1.2 , 1 0 3 .5 6 6 8 ,. 9 17 . 4 2 9 9 .5 136,.3 9 .7 , . 4 11 , 115,. 2 7 3 8 .. 0 25., 0 3 2 0 ..6 147 . 4 9 . 9 11 ,, 7 1 2 5 ,.7 8 1 2 ,. 9 35 . 0 3 3 7 .9 1 4 4 .2 10 .3 12,. 1 .7 121 , 876 , . 6 45,. 9 3 6 5 .. 6 131 ,. 2 1 0 .. 7 12..5 1 0 8 ,. 0 Credit market debt T a x - e x e m p t debt (3) C o r p o r a t e b o n d s (1) Mortgages Home Multifamily C o m m e r c ial 29 30 31 32 33 34 35 36 37 38 1 2 0 .5 7 .0 19 .5 137 . 1 8 .4 23..3 1 5 9 .4 1 2 .5 3 0 .0 1 4 3 .5 9 .6 3 2 .5 140 . 1 11 . , 0 39 . 9 154,. 9 12,.8 48 . 1 1 7 5 ., 1 15,.5 5 4 ,, 3 2 0 4 .3 2 4 .5 67 , . 0 2 3 0 ,.3 28.. 0 75.. 6 Bank loans n.e.c. Commercial paper Other loans 36 37 38 39 40 41 42 43 15 194 20 12 8 19 .3 2 3 2 ..7 27 . 1 17 . 3 9 .8 24 170 33 21 11 22 176 37 23 13 .3 . 7 . 2 .9 .2 2 7 .8 185,.6 5 9 .8 44 . 4 15 . 4 29,. 1 207 . 1 69 . 4 .5 51 , I 7 ., 9 3 4 ,. 1 2 5 8 ,. 9 8 4 ..3 63..5 2 0 ..8 41 . 0 3 0 9 .8 1 03 .6 79 2 4 .2 43 . . 347 , 1 3 8 ,. 110,. 28,. 1619 . 0 1780 . 4 .5 .4 .5 .1 .4 1 0 0 3 .6 44 1 1 4 3 ..8 .5 .5 .2 .8 . 4 1422 . 1 1 9 9 2 .2 2 2 7 8 .. 0 1 2 6 7 .3 12 13 14 15 16 17 29 30 31 32 33 34 35 .8 . 1 .6 .2 . 1 .9 .2 1115. 3 9 10 11 2 6 5 9 .8 Net 3048. 3 1604.5 Total estate (4) 43.1% 71.6% 38.5% 115.2% 34.8% 85.9% 33.7% 69.4% 33.5% 87.5% 32.3% 91.4% 3 0.5% 84.8% 28.7% 67.9% 87.1% 60.2% 33.4% 40.5% 48.6% 38.3% 35.4% 36.0% 42.3% 1 7 9 6 ..6 . 0 1961 , 2183. 2 2 4 8 7 ., 7 2863 . 0 3 1 6 8 .. 1 Total 1169. 7 1 1 3 1 ..2 12. 3 8 0 3 ., 0 315. 9 1 2 7 2 ,.3 1231 , .5 12..2 8 7 6 ..7 3 4 2 ..5 1 4 0 3 ..5 1360. 4 12. 5 971 .0 3 7 6 .,9 1 5 7 9 ..8 1 5 3 2 ,, 9 12. 8 1088. 5 4 3 1 .,6 1 7 9 9 ..8 1 7 4 8 .. 7 13. 2 1 2 3 0 .. 4 5 0 5 .. 1 1 9 9 1 ,.9 1 9 3 6 ..1 13..6 1 3 7 9 ..5 5 4 3 .. 0 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Tangibles 50 1 3 7 5 ,. 0 1554. 3 51 52 53 54 55 8 7 8 ., 9 849. 5 12., 7 6 1 1 .. 1 225. 7 9 7 9 ..8 945. 8 12. 7 669. 2 263. 9 1106.4 1069.5 12.5 737.4 319.5 56 29.,4 7 1 4 .. 0 57 real 42.9% 49.2% 1682.8 3 4 ., 0 7 8 1 .,4 36.9 3 8 .,4 40..8 43..0 46..9 906.8 996. 4 1 0 8 6 ,.8 1 2 0 8 ..6 1 3 7 2 ..4 51 .. 2 1 5 9 5 ..7 and net Debt-net worth ratio (29/44) Debt-equities ratio (29/46) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 6 / 4 4 ) worth 5 5 ,. 7 .5 1761 , on historical-cost assets worth 2 9 7 ,.6 3 2 4 ,.3 353.9 3 8 2 ..0 4 1 2 ,.9 55.2% 447 , . 1 55.3% 4 9 4 ,.2 53.7% 5 5 7 ,. 1 50.9% 630 . 0 Total 49. 7% Debt-net (6) real estate worth (7) ratio (1) C o r p o r a t e b o n d s i n c l u d e n e t 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 inflows from those bond issuer. ( 2 ) E q u i t y in t h e 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 . (3) I n d u s t r i a l r e v e n u e b o n d s . I s s u e d by s t a t e and l o c a l g o v e r n m e n t s to f i n a n c e p r i v a t e i n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . (4) 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. (5) L i n e s 8 + 51 . (6) L i n e s 50 - 28. (7) L i n e s 5 3 + 5 6 + nonresidential plant from line 54. Data are in billions of dollars. 47 48 49 basis: Memo: 58 46 (5) Land Net 39 40 41 42 43 worth M a r k e t v a l u e of e q u i t i e s , including corp.farm equities 1290.0 47 48 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund c o n t r . p a y a b l e 9 7 4 2 1 (29/57) 51 52 53 54 55 M a r c h 9, 1994 N o n f a r m N o n f inane lal Corporate Business 36 Year-End assets (current cost) Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 7 Total of Nonfarm NonfInanelal Corporate NonfInanelal financial Corporate assets 1981 1982 1983 1984 1985 Business Business 1986 1987 1988 Outstandings 1989 4966 . 1 5197 . 1 5413.1 5 7 4 5 .6 6 0 3 1 .5 6 3 4 4 .8 6711 . 1 7182.8 7 5 7 8 .5 1 3 6 7 4 .5 386 0 . 4 3979.7 4 2 1 5 .7 4 3 9 9 .3 4 5 4 6 .4 4 7 5 0 .4 5055.7 5 3 3 0 .7 2 3103 33 2370 699 3239 33 2526 679 3320.3 34.5 2595.7 690.0 3513 35 2717 760 3658 36 2853 768 3771 38 2974 758 3937 40 3080 817 4182.4 39.6 3259.7 883.1 4393 40 3416 936 3 4 5 6 Land 8 Sheet Year-End assets Tangible 3 4 5 6 Nonfarm Balance Outstandings 1 Total 2 B.104 .3 . 0 .4 .9 .9 .7 .9 .4 .7 .5 .7 .5 .5 .8 .6 . 1 5 7 1 .2 6 2 0 .4 659.4 7 0 1 .9 7 4 0 .8 1 2 9 1 .6 1 3 3 6 .7 1433.4 1530 . 0 1632 . 2 .9 .2 .8 .9 .7 .0 . 0 . 7 .3 .6 .7 .0 7 7 4 .5 8 1 2 .7 873.3 9 3 7 .4 7 1 7 9 8 .4 1 9 6 0 ,.7 2127.0 2 2 4 7 .9 8 9 10 11 12 13 14 15 16 17 18 Liquid assets Checkable dep. 8 currency Small time 8 savings dep. Large time deposits 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 Tax-exempt securities Commercial paper 2 2 0 ..4 47 . .4 11..9 35..9 18. 4 3 3 .,4 2 3 ..0 20. 2 3. 5 26 .8 2 6 8 .8 46 .3 14,.7 44..4 19.. 0 42.. 1 31 ..5 30. 5 3.,5 36. 7 321.2 36.9 17.5 53.1 11.2 48.4 70.0 38.5 4.2 41.4 3 6 0 .3 4 3 .4 18..5 5 5 ..9 16.. 1 4 8 ..8 8 6 ..0 42. 7 4.. 1 44. 8 403 . 0 6 9 .0 19 .9 60..4 14..5 58. 3 91 ..6 39.. 0 4.,9 45. 3 472 . 0 88 . 0 21 .2 66,.3 18.. 1 7 0 ,.3 105. 5 5 3 ..7 8., 0 40 .9 5 0 7 ..4 104..7 21..9 69..7 18..9 71 ., 1 1 0 6 .6 57. 3 10. 5 46. 6 531.1 103.8 24.4 8 1 .2 15.6 79.3 113.1 54.6 12.0 47.0 5 4 9 .7 114.. 1 23. 9 79..4 16. 2 75. 3 1 1 6 .,4 60. 6 11 .4 52. 4 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Consumer credit M u t u a l fund s h a r e s Trade credit Miscellaneous assets F o r e i g n d i r e c t i n v e s t . (1) Insurance receivables E q u i t y in G S E s ( 2 ) I n v . in f i n a n c e c o . s u b s . Other 25. 9 1 .6 506. 6 537. 0 402. 9 47. 3 0. 6 8. 6 77. 6 26. 3 3. 1 491. 1 5 4 7 .4 393. 8 50. 0 0. 7 9. 7 93. 1 30.2 4.5 542.8 534.8 382.0 53.5 0.7 10.8 87 . 7 32. 9 7. 2 590. 3 539. 4 373. 9 58. 6 0. 7 11 . 9 94. 2 36. 7 10. 8 629. 9 5 5 1 .8 394. 0 62. 8 0. 8 16. 7 77. 6 40. 9 15. 7 655. 2 614. 6 419. 6 8 1 .6 0. 9 18. 7 93. 7 47. 5 12. 8 7 0 0 .9 692. 1 479. 1 92. 4 1. 3 12. 5 106. 9 54.0 10.6 773.1 758.2 486.9 102.5 1.3 9.2 158.2 56. 8 11. 7 817. 0 812. 8 504. 4 117. 2 1. 3 8. 8 181 . 0 19 20 21 22 23 24 25 26 27 28 Total liabilities 29 30 31 32 33 34 35 Credit market debt T a x - e x e m p t debt (3) C o r p o r a t e b o n d s (1) Mortgages Home Mult ifamily Commercial 36 37 38 Bank loans n.e.c. Commercial paper Other loans 39 40 41 42 43 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund c o n t r . p a y a b l e 44 Net worth 1575 . 0 1658 . 1 1 8 0 5 .6 2055 . 1 2 2 7 6 .3 2 5 6 1 .2 2844 . 1 3 1 7 0 .4 3453 . 1 28 9 8 5 ..8 5 9 ..3 3 9 0 ..3 1 3 3 ,.9 11 , . 1 12.,8 1 1 0 .. 0 1 0 4 9 .9 7 4 .5 421 . 0 94,.2 11 , .5 13..3 69 ..5 1149 . 0 8 3 .9 447 . 0 115 . 0 12,. 0 13..8 8 9 ..2 1 3 4 0 .2 1 0 4 .4 495 . 1 123..5 1 2 .6 14,.4 96..5 1 5 0 5 ..2 1 2 7 .. 0 5 7 8 .,2 114. 3 13. 3 15., 0 8 6 ., 0 1729 . 0 117 . 1 7 0 5 .4 147 . 1 14 . 0 15..8 117..3 1 9 0 0 .6 1 1 6 .2 7 8 4 .. 1 197..5 14.. 7 16..5 1 6 6 ..4 2 0 9 0 .6 116..4 8 8 7 ..2 195..9 15..4 17,. 1 163..4 2 2 8 1 .7 1 1 5 .5 961 . 1 2 1 9 .0 16 . 0 17..8 185..2 29 30 31 32 33 34 35 2 6 1 .7 42. 7 97. 8 3 1 8 ..5 37. 6 1 0 4 ., 1 3 4 0 .9 36.8 125. 5 3 9 1 .. 1 58. 5 1 6 7 ., 6 424. 1 72. 2 189. 4 4 7 3 .. 7 62. 9 2 2 2 ..8 4 8 2 .,4 73..8 2 4 6 ,6 519. 3 85. 7 2 8 6 ., 1 5 5 3 .5 107.. 1 325. 5 36 37 38 39. 376. 173. 140. 32. 9 4 0 2 7 3 5 .,6 3 8 1 .3 191 .3 153. 3 38. 0 38.,6 418. 3 1 9 9 ., 7 158. 3 41 . 3 42. 2 4 5 2 .. 0 220. 7 179. 2 41 .5 39. 486. 246. 195. 50. 42. 8 4 9 9 ,, 7 2 8 9 ..8 235. 2 54.6 47. 9 539. 6 3 5 6 ., 1 299. 3 56. 8 49. 6 5 9 8 ., 7 4 3 1 .5 3 7 0 ., 1 61 . 4 46. 629. 495. 423. 72. 5 3 7 3 4 39 40 41 42 43 3 3 9 1 .1 3539. 0 3607. 5 3690. 6 3755. 3 3783. 5 3866. 9 4012. 4 4 1 2 5 ..4 44 1167.1 1305.1 1573.0 1484.7 1 8 4 1 .3 2166.7 2256.6 2517. 4 3176.5 46 2 9 . OX 8 4 . 4X 29. 6X 80.4X 31 .8X 7 3 . OX 36.3% 9 0 . 2X 40. 0% 81 .7% 45.6% 7 9 . 7X 4 9 . IX 8 4 . 2X 5 2 . IX 83.0% 5 5 . 3X 71. 8X 47 48 3 4 . 4X 36. 8X 4 3 . 6X 40.2% 4 9 . OX 57.2% 5 8 . 3X 62.7X 76.9X 49 3 5 0 2 .8 3701.0 3 9 5 3 .7 4 2 6 7 .2 4 5 5 5 .5 4 8 6 1 .0 5192 . 1 5562.6 5 8 4 2 .4 50 2211 2147 13 1550 584 2364.3 2296.5 14.1 1703.4 579.0 2 5 2 0 .3 2 4 4 8 .8 14..8 1 8 3 0 ..6 6 0 3 ..4 2 7 3 7 .2 2661 , .9 15,.4 1 9 8 9 ,.5 6 5 6 ..9 2923 2838 16 2156 666 3062 2973 16 2284 672 3231 . 4 3 1 3 4 .7 1 7 .2 2 3 9 1 .6 7 2 5 ..9 3 4 3 5 .5 3 3 2 9 .7 17 .8 2 5 0 6 .6 8 0 5 ..4 3 5 9 4 .5 3 4 8 4 .5 17..9 2 6 3 2 ,. 1 8 3 4 ,.5 51 52 53 54 55 110.. 0 56 0 0 0 9 1 Memo : 45 Total real estate (4) M a r k e t v a l u e of e q u i t i e s , 46 including corp.farm equities 47 D e b t - n e t w o r t h ratio ( 2 9 / 4 4 ) 48 Debt-equities ratio (29/46) R a t i o of m a r k e t v a l u e 49 to n e t w o r t h ( 4 6 / 4 4 ) Tangibles and net on historical-cost Total 51 52 53 54 55 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 56 57 assets worth 50 (5) Land Net worth (6) basis: .2 .9 .8 .1 . 0 .3 . 9 .1 .8 . 0 .6 . 7 .7 .3 .7 6 3 .2 67.8 71 .5 75..4 8 4 .4 8 9 .0 96..7 1 0 5 ..9 1 9 2 7 .8 2042.9 2 1 4 8 ..1 2 2 1 2 ..1 2 2 7 9 .3 2 2 9 9 .8 2 3 4 8 ..0 2 3 9 2 .2 2389, 3 57 7 2 1 ..2 811.6 8 7 9 .. 1 959. 2 1 0 5 2 ..5 1 1 1 6 .4 1 1 7 4 ..3 1 2 3 8 ..9 1 3 0 1 ..4 58 51.1% 51.3% 53.4% 60.5% 66. 0% 75.1% 86.9% 87.3% 95.4% 59 Memo: 58 Total 59 Debt-net real estate worth (7) ratio (29/57) (1) C o r p o r a t e b o n d s include 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 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. ( 2 ) E q u i t y in t h e 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 . (3) I n d u s t r i a l r e v e n u e b o n d s . I s s u e d by s t a t e and l o c a l g o v e r n m e n t s to f i n a n c e p r i v a t e i n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . Lines 4 + 7 + nonresidential plant f r o m l i n e 5. (5) L i n e s 8 + 51. (6) L i n e s 5 0 - 2 8 . (7) L i n e s 53 + 56 nonresidential plant from line 54. Data are in billions of dollars. 'March 9, 1 9 9 4 Nonfarm Nonfinancial Corporate Business B.104 Year-End Nonfarm Balance Sheet of Nonfarm Nonf inanelal Corporate Nonfinancial Year-End 1991 1992 1993 Business g y Outstandings 1990 Corporate Business 1 7699.4 7508.8 7 3 7 7 .8 7520.4 Total 2 5325.8 5061.9 4 8 1 6 .2 4874.4 Tangible 3 4 5 6 4573.2 41.2 3567.0 964.9 4628.9 41 .3 3644.5 943.1 4699 41 3704 953 .7 .6 .4 .7 4779.0 40.8 3748.8 989.4 7 752.6 433.1 1 1 6 .5 95.5 8 2373.6 2446.8 2 5 6 1 .6 2646.0 9 10 11 12 13 14 15 16 17 18 564.8 120.2 23.0 76.2 26.3 69.3 132.3 53.5 10.1 53.9 592.1 131.3 23.9 79.7 31.5 69.8 129.7 60.8 11.9 53.5 19 20 21 22 23 24 25 26 27 58.4 9.7 833.9 906.8 5 6 1 .2 131.5 1.3 15.0 197.8 54.0 14.8 825.9 9 6 0 .1 588.8 145.5 1.8 17.2 206.7 Outstandings assets 1 assets (current cost) 2 Reproducible assets Residential structures Nonres. plant & equipment Inventories 3 4 5 6 Land 7 Total financial assets 8 .8 .5 .4 .7 .2 .9 .3 . 0 .2 .7 592.2 127.5 25.3 77.3 40.7 47.6 108.8 92.5 14.6 57.8 Liquid assets Checkable dep. 8 currency Small time 8 savings dep. Large time deposits 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 Tax-exempt securities C o m m e r c ia' p a p e r 9 10 11 12 13 14 15 16 17 18 5 6 .6 17 . 1 8 5 8 .8 1 0 4 2 .3 5 9 0 .7 1 5 9 .2 1 .9 1 8 .9 2 7 1 .6 62.6 17.0 890.9 1083.3 620.8 172.9 1.9 22.9 264.7 C o n s u m e r c e j it Mutual furj „ nar es Trade credit Miscellaneous assets F o r e i g n d i r e c t i n v e s t . (1) Insurance receivables E q u i t y in G S E s ( 2 ) I n v . in f i n a n c e c o . s u b s . Other 19 20 21 22 23 24 25 26 27 586 121 22 73 36 54 118 94 12 53 28 3610.9 3620.7 3729 . 1 3816.6 29 30 31 32 33 34 35 2374.6 115.2 1008.2 208.6 16.6 18.3 173.7 2361.6 114.0 1086.9 209.2 17.0 18.8 173.4 2406 114 1154 183 17 19 146 . 1 .0 .4 .8 .5 .3 .9 2458.7 113.9 1225.7 175.4 18.1 19.9 137.5 36 37 38 555.4 116.9 370.5 530.5 98.5 322.6 5 1 8 .5 107 . 1 3 2 8 .4 517.1 117.8 308.8 39 40 41 42 43 41.5 658.6 536.2 468.4 67.7 32.1 663.3 563.7 475. 1 88.7 38 698 585 490 94 44 4088.5 45 2628.1 .9 .5 .5 .7 .8 41.2 718.1 598.6 494. 0 104.6 3888.1 3 6 4 8 .7 3703.8 2342.0 2 0 6 6 .5 2025.9 Total 28 liabilities Credit market debt T a x - e x e m p t debt (3) C o r p o r a t e b o n d s (1) Mortgages Home Mult ifamily C o m m e r c ial 29 30 31 32 33 34 35 Bank loans n.e.c. Commercial paper Other loans 36 37 38 Taxes payable Trade debt Miscellaneous liabilities F o r e i g n d i r e c t i n v . in U S Pen. fund contr. payable Net 39 40 41 42 43 44 worth Memo: real estate 45 (4) 4131.6 47 48 5 8 . OX 78.5% 60.7% 5 7 . 1% 49 73. 9% 106.2% 1 2 8 . 'V/. 138.0% 50 6121.4 6314.9 6 5 4 0 .6 6771.7 Total (5) 50 51 52 53 54 55 3747.7 3633.4 18.1 2768.3 847.0 3868.0 3748.9 17.9 2870.5 8 6 0 .6 3979 3862 17 2969 875 4125.7 4020.1 17.0 3106.4 896.7 Tangible assets Reproducible assets Residential structures Nonres. plant & equipment I n v e n t o r ies 51 52 53 54 55 65.9% 51.3% 5111.9 46 3024.2 46 4687 . 1 Total M a r k e t v a l u e of e q u i t i e s , including corp.farm equities 66.3% 4 8 . 0% Debt-net worth ratio (29/44) Debt-equities ratio (29/46) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 6 / 4 4 ) Tangibles .0 .9 .8 .3 .8 56 114.3 119.1 1 1 6 .2 105.7 57 2510.5 2694.1 2 8 1 1 .5 2955.1 and net worth on historical-cost assets 49 basis: 56 Land Net 47 48 worth 57 (6) Memo: 58 1373.9 1432.3 1475 .4 150$.0 59 94.5% 87.6% 85.5% 83.2% Total Debt-net (1> (2) (3) (4) (5) (6) (7) Data are in billions of dollars. real estate worth 58 (7) ratio C o r p o r a t e b o n d s include net issues by N e t h e r l a n d s A n t i l l e 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 excludes, net inflows from those bond 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 r n m e n t s t o f i n a n c e p r i v a t e i n v e s t m e n t a n d s e c u r e d in i n t e r e s t a n d p r i n c i p a l b y t h e i n d u s t r i a l u s e r of t h e f u n d s . Lines 4 + 7 + nonresidential plant from line 5. Lines 8 + 51. L i n e s 50 - 28. Lines 5 3 + 5 6 + nonresidential plant from line 54. (29/57) 59 M a r c h 9, 1 9 9 4 Private Financial Institutions Private 38 Year-End 1 Total B.134 Balance Sheet of Private Financial Outstandings Year-End assets 2 3 4 5 Tangible assets Residential structures Nonres. plant 8 equipment Land 6 Total financial Financial assets 7 8 9 10 11 12 Checkable dep. S currency Small time 8 savings dep. Large time deposits M o n e y m a r k e t fund s h a r e s Fed. funds 8 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 8 foreign bonds Institutions* Institutions Outstandings 1945 1946 1947 1948 1949 1950 1951 1952 1953 241.0 239.0 251.9 262.8 278.0 299.8 320.9 349.3 372.6 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 0.8 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 4 5 238.1 344.3 367.4 6 6.9 0.8 7.2 0.9 7 8 235.8 248.4 259.1 274.1 295.5 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 - - - - - - - 316 . 1 " 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 9.4 232. 1 106.1 2.1 10.2 32.2 11.0 248.5 99.5 1 .9 12.5 34.6 - - ~ - 10 11 12 12.0 264.7 96.1 1.8 14.1 38.2 13.9 288.1 98.2 2.2 15.8 43.2 15.2 308.0 98.6 3.7 17.8 48.0 13 14 15 16 17 18 19 20 21 22 23 24 Mortgages Consumer credit Bank loans n.e.c. Open market paper Other loans C u s t . l i a b . 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 52.2 16.2 26.0 0.4 4.9 0.4 59.9 16.9 31 .3 0.5 5.3 0.5 67.5 20.8 33.4 0.6 5.8 0.5 75.8 24.5 32.1 0.6 6.2 0.6 19 20 21 22 23 24 25 26 27 28 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 8.1 17.8 0.4 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 4.1 22.8 0 . 9 4.7 4.9 22.7 0 . 9 6.2 5.7 22.7 1 . 0 6.7 25 26 27 28 219. 1 215.6 226.9 236.7 249.9 268.8 288. 4 314.5 335.5 29 101.7 50.3 3.2 87.8 56.6 3.4 90.1 60.0 3.6 89.5 62.2 3.9 90.3 64.9 4.3 95.9 67.3 4.6 102.7 72.3 4.5 107.9 80 . 2 4.9 1 08. 0 88.5 5.8 29 Total liabilities 30 31 32 33 34 Checkable deposits Small time 8 savings dep. Large time deposits 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 P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 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 45 46 47 48 49 Security debt Trade 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 50 51 52 Net worth C o r p o r a t e and s t o c k 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 v a l u e of e q u i t i e s 5 4 T o t a l r e a l e s t a t e (1) (1) Data Lines 3 + 5 + nonresidential f r o m l i n e 4. are in billions of dollars. plant -3.6 -1.6 -1.3 -1 . 1 -1 . 0 -1 . 1 -1.0 -1.1 -1.2 30 31 32 33 34 36.0 9.4 2.1 38.6 10.2 1.5 41 . 1 11.7 1 .6 43.8 13.3 1.8 46.4 15. 1 2.1 49. 1 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 4.1 10.5 3.1 38 39 40 41 42 43 44 1.3 1 . 0 0.1 1.3 1.8 0.2 1.4 2.5 0.3 1.5 3.7 0.8 3. 1 4.6 1 . 1 3.3 6.5 1.3 3.5 7.4 1.7 3.9 8.9 1 . 7 0.4 0.2 0.2 0.9 0.4 0.3 1.2 0.6 0.4 1.7 0.8 0.5 2.1 1 . 0 0 . 4 3.3 1 . 1 0.8 3.2 1.6 0.9 4.4 1 . 9 0.9 4.3 2.2 1 . 0 7.6 4.0 2.8 3.0 3.5 4.0 3.7 4.2 4.6 0.4 0.5 0.3 0.5 0.7 0.9 1.1 1.4 1.9 9.8 11.5 12.9 14.5 15.9 17.5 18.8 21 . 3 23.0 45 46 47 48 49 21 . 9 16.3 5.6 23.4 17.8 5.6 25. 0 19.3 5.7 26. 1 19.6 6.5 28.0 20.4 7.6 31 . 0 22.4 8.6 32.5 23.3 9.2 34.8 24.8 10.0 37.2 26.2 11.0 50 51 52 29. 0 2.5 25.5 2.8 21 . 7 3.1 21 . 7 3.1 24.0 3.2 24.8 3.5 26.9 3.8 30.7 3.9 28.8 4.0 53 54 M a r c h 9, 1 9 9 4 (Private Financial Private Institutions B.134 Year-End Balance Sheet of Private Financial 1954 1955 1956 1957 1958 1959 196 0 1961 1962 405.9 441 . 0 467.8 492.7 541 . 0 578.3 618.6 680.0 730.9 10.8 8.5 2.3 5.8 6.3 7.2 7.7 8.0 8*6 9 . 2 9.8 4.2 1.6 4.9 1.4 5.6 1 . 6 6.0 1.7 6.3 1. 7 6.8 1.8 7.2 2.0 7.7 2.1 400.2 434.7 7 . 9 1 . 3 460.7 485.0 533.0 569.7 8.0 1.6 8.2 1.9 8.9 2.4 8.6 2.6 609 . 4 6 7 0 .2 720 . 1 9.1 2.8 10.2 3.4 11.1 3.8 9 10 11 12 1 2 3 4 5 Total 6 financial assets C h e c k a b l e dep. 8 currency Small time 8 savings dec. Large time d e p o s i t : M o n e y m a r k e t fund s h a r e s Fed. funds 8 security RPs Foreign deposits 7 8 9 10 11 12 Corporate acuities Credit market instruments U.S. Treasury securities Federal agency securities Tax-exempt securities Corporate 8 foreign bonds 13 14 15 16 17 18 29.1 403.4 90.6 3.7 26.4 65.8 40.3 436.2 99. 1 4.7 30.5 71.4 47. 0 465.0 91.9 4.3 32.8 75.7 51.2 499.1 93.2 5.5 34.8 80.5 66.1 538.5 99.5 6.4 38.7 85.8 62.5 5 8 6 .2 100.9 8.2 44.4 91 .8 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 67.3 0.8 8.7 1.3 133.6 37.6 48.1 0.9 9 . 0 1 . 2 148.3 43.7 55. 3 1 . 0 10.9 1.2 161.3 48.4 58.3 1.6 13.5 2.0 177.3 50.7 60.9 2.4 14.2 2.7 197.9 55.6 67. 1 2.6 14.9 2.7 Mortgages Consumer credit Bank leans n.e.c. Open market paper Other loans C u s t . 1 l a b . on a c c e p t a n c e s 19 20 21 22 23 24 7.5 21.3 1.1 8.0 8.6 21 .7 1 . 2 9.1 12.4 22. 0 2.2 20.0 Security credit Vault cash 3 comm. bank res. Trade credit Miscellaneous finan. assets 25 26 27 28 19 20 21 28 assets Tangible assets Residential structures Nonres. plant S equipment Land 29. 1 380 . 0 91.9 2.8 24.1 59.3 20.2 333.3 103.9 3. 7 21. 3 52.3 25 26 27 Total Outstandings 26.9 357 . 9 96.2 3.1 22.8 55,4 13 14 15 16 17 18 23 24 Institutions 39 Year-End Outstandings 7 . 6 1 . 1 22 Financial Institutions 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 1.8 14.0 9.6 20.4 1 . 9 15.2 11.8 21 . 1 2. 0 17.3 363.3 394.2 417.9 641 . 6 484.6 518.3 553.5 608.0 656.4 30 31 32 33 34 112.5 97.8 7.0 114.7 106.6 6.7 116.5 116.2 6.5 115.8 128.3 6.7 121.4 142.6 9.3 123.0 154. 1 7.5 125.0 165.3 11.1 130.1 184. 1 13.5 134.7 2 0 9 .9 16.4 -1.5 -2.0 -1.9 -1.9 -2.1 -1.9 -2.1 -2.1 35 36 37 60.4 34.4 3.1 63.5 41.8 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 78.8 79.5 5.3 82. 1 91.8 7 . 0 38 39 40 41 42 43 44 6.1 10.4 2.8 7.8 14.3 3.2 9 . 0 15.3 4.5 8.7 17.2 5.7 13.2 16.9 5.6 15.8 21. 3 6.5 17.0 24.4 9.8 22.9 26.0 10.5 4.4 2.4 0.9 7.3 2.4 1.4 6.7 2.8 1.2 6.6 3.6 1.3 6 . 7 3.4 1.3 8.6 4. 1 2. 1 6.9 5.8 2. 0 6.5 6.3 2.7 7.2 7.5 3.5 6 . 0 Total liabilities 29 -2.1 Checkable deposits Small time 8 savings dep. Large time deposits Money market 6und shares Fed. funds 8 security RPs 30 31 32 33 34 85.8 97 . 4 6.8 Life insurance reserves Pension £ un d reserves I n t e r b a n k c l a i m s , net 35 36 37 21 . 3 28.9 10.8 M u t u a l fund s h a r e s Creait mar<et instruments Corporate benas Mortgages Bank loans n.e.c. Open market paper Other loans 38 39 40 41 42 43 44 Security debt Trade debt Taxes payable I n v e s t , in b a n k s e r s . t r u s t s Miscellaneous liabilities 45 46 47 48 49 45 46 47 48 49 6.5 5.8 5.9 6.7 6.7 7 . 2 8.4 9.2 1.6 1.3 1.5 1.6 1.7 1.4 2.4 1 . 4 1.9 25.3 28.8 30.6 32.7 35.8 38.0 38.6 42.7 46. 1 50 51 52 42. 7 30.3 12.4 46.8 32.8 14.0 49.9 34.8 15.1 5 1 .1 34.9 16.3 56.5 38.3 18.1 60.0 40.2 19.8 65. 0 43.4 21.6 72.0 49.1 22.9 74.5 50.9 23.6 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 50 51 52 53 54 34.0 4.4 37.6 4.8 37.2 5.4 45.6 5.8 59.6 73.2 6.5 75.9 7.0 117.9 7.6 90.5 8.4 Memo: M a r k e t v a l u e of e q u i t i e s T o t a l r e a l e s t a t e (1) 53 54 6.1 CI) Data are In billions of dollars. Lines 3 • 5 • nonresidential f r o m l i n e 4. plant M a r c h 9, 1 9 9 4 Private Financial Institutions Private 40 Year-End 1 Total B.134 Sheet of Private Financial assets financial assets 7 a 9 10 1 1 12 Checkable dep. 8 currency Small tin? 8 savings dep. Large time deposits M o n e y m a r k e t fund s h a r e s Fed. funds 3 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 8 foreign bonds 1963 1964 1965 8 0 0 ..5 8 7 8 .5 9 6 2 .1 .6 11 , 1 3 .3 14 . 9 9,.2 2 3 10 .4 2 .9 11 .9 3. 0 7 8 9 ,. 0 11 , .2 4..2 Outstandings 1968 1969 1970 1971 1 0 1 0 .8 1 1 1 6 .8 1 2 3 1 .8 1413 . 4 1 5 2 0 .2 1 7 2 8 .7 1 16 .8 1 8 .6 13,.4 3,.4 15 . 0 3 .5 30 0 20 9 34 0 22 11 39 0 26 13 2 3 4 5 8 6 5 .2 9 4 7 .2 994 . 0 11 .5 4 .7 11 .9 5 .2 11 , .5 5,.5 0.. 1 1 0 9 8 .2 .9 11 , 6 . 2 0,.4 22 . 0 0,. 1 17 .8 4,.2 13 . 4 7 .2 I .3 1 4 .1 8 .4 2. 1 15 . 1 10 .5 4 .2 0 .3 0,.4 1 .2 104,. 7 7 5 6 ,. 6 94..8 10..4 57,. 1 113.. 1 100.. 1 8 0 4 ..5 91 , .6 1 1 .8 . 5 9 .. 7 122.. 4 128.. 2 .9 867 . 95.8 15.. 0 70 . 2 1 3 4 ,. 9 152.. 1 942 . 9 93.. 6 17 . .8 79 . 7 1 4 4 ..2 2 9 2 ..6 8 6 .. 0 1 09 .. 6 3 .3 23..9 3 . 6 310 . . 91 , 1 1 7 ,. 4,. . 24 , 4.. 3 3 3 .. 1 0 1 ,. 1 3 0 .. 4.. 28.. 4.. 274 . 7 8 0 .. 2 98.. 7 2.. 7 21 . 3 3 .4 25 26 27 28 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 15.. 1 21 . 3 2. 3 22.• ^ 15.. 0 22., 4 2.,5 25.. 0 15.. 3 23..3 2..6 27 . 6 15..8 25..2 2..9 28. 7 0 0 4 5 3 .5 20 . 27 . 0 3 .2 33.. 0 .9 .4 .5 . 0 1383 . 1 8 9 ,.7 694 . 4 99.. 0 9,.5 52.. 4 105.. 4 2 4 9 .2 71 .. 3 8 2 .6 2,. 9 18..8 3.. 4 .3 . 3 .7 .4 12..5 6 .7 0,. 6 76 ,.3 6 3 6 ,2 9 7 ., 6 8.. 7 48. 8 98., 1 2 2 3 ..6 63., 0 74. 3 2. 7 16..7 2..9 .3 .2 .3 .9 1 2 0 9 ,. 7 0.. 1 liabilities Vear-End 1967 Mortgages Consumer credit Bank loans n.9.c. Ooen market paper Other loans C u s t . l i a b . on a c c e p t a n c e s Total Institutions 1966 19 20 21 22 23 24 29 Financial Institutions Outstandings 2 Tangible assets 3 Residential structures Nonres. plant 8 equipment 4 5 Land 6 Total Balance 1 4 8 5 .8 1 6 8 8 .8 6 7 8 9 10 11 12 233 . 2 1028 . 6 8 8 ..9 2 2 .5 91 , 1 5 7 ..6 24 0 . 1 1 1 08, .5 96,. 4 29 .8 1 0 4 ,. 7 172.. 0 3 0 4 ,.5 1 2 2 1 ,.7 95.. 4 37, 5 123..6 1 8 8 ,.9 13 14 15 16 17 18 4 7 4 7 0 4 357 . 0 111 . 6 1 4 8 ,. 3 10..5 35,.5 5..5 3 7 7 ..4 115..5 154..8 12..6 38.. 3 7.. 1 4 1 8 .. 6 128., 7 1 6 6 .. 0 14. 3 40 . 9 7..9 19 20 21 22 23 24 24.. 7 29 .. 1 3..5 3 7 .. 7 20,. 0 29,. 4 3 .9 45 . 6 2 0 ..2 31 , .2 4,. 4 56 . 4 23..5 35.,3 4,, 7 68. 25 26 27 28 1 1 1 7 .. 6 1 2 9 1 ,. 7 721 .0 7 9 2 ..3 8 7 0 .. 0 915. a 30 31 32 33 34 Checkable deposits S m a l l 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 shares Fed. funds 8 security RPs 136. 9 235. 5 20. 3 1 4 3 ..6 2 6 1 .2 2 5 .- I 1 4 9 .. 0 2 8 8 .5 31 .. 0 1 5 0 ..8 3 0 6 .5 33. 3 -2. 6 -2. 3 -1 . .5 - 1 .5 -2. 2 - 1 .5 4.. 7 1 .. 1 35 36 37 Life insurance reserves P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 3 9 .9 110. 4 6. 8 94. 2 125. 9 6. 9 98.. 9 141 .. 6 6..8 103. 5 1 5 0 .8 10., 6 108. 3 1 7 2 ., 6 1 1 ,. 0 1 1 3 ., 1 1 9 4 ., 1 15., 0 1 1 8 .. 1 2 0 4 ..8 22. 2 123. 3 2 2 5 ., 1 17 .3 38 39 40 41 42 43 44 M u t u a l fund s h a r e s Credit market instruments Coroorate bonds Mortgages Bank loans n.e.c. Ooen market paper Other loans 25. 2 34. 6 12. 4 47.. 6 77 .. 7 20. 9 . 0 ,4 14. 3 32. 8 9 .3 46. 8 84. 1 23. 5 0. 5 16 . 4 3 3 .• 1 1 0 .6 55. 4 8 9 .3 28. 2 0. 7 18. 6 33. 8 7. 9 38 39 40 41 42 43 44 45 46 47 48 49 Security deot Trade 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 50 N e t w o r t h 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 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 r e a l e s t a t e (1) (1) Data Lines 3 * 5 • nonresidential from l i n e 4. are in billions of dollars. plant 1 0 1 3 ..2 1 6 2 .. 9 3 4 1 .2 39. 2 176. 2 367. 8 45. 9 29 .. 1 40 . 3 15. 5 35..2 46 ..8 16 ., 7 34. 8 52. 5 18. 3 44, 3 53. 2 19 .3 8. 7 8. 7 4. 8 8. 7 10. 7 5. 3 12.. 2 1 1 .9 . 6 . 0 1 1 .6 15. 7 6. 9 11 . , 1 18., 4 4.. 4 51 .2 5 9 .. 6 19., 9 0. 2 12. 8 21 . 4 5. 3 1 0 .3 11 .2 12.. 0 1 .5 1 .8 52. I 1 8 0 .. 9 3 8 1 ..8 30.. 4 1 3 9 2 .,8 190..2 4 1 2 .. 4 5 4 .. 6 1587. 3 29 203. 4 480. 7 67. 9 5. 0 30 31 32 33 34 129. 6 261 .7 11 .9 35 36 37 12. 8 16. 6 2 0 .3 17 .2 17 .7 19. 0 1..8 1 .7 1 .5 1 .7 5 5 .,5 6 0 .. 1 6 0 ., 1 1 .9 116. 0 8 8 ,.4 2. 5 118. 5 99 . 3 2. 4 141 . 1 119. 8 45 46 47 48 49 79. 5 52. 9 26. 6 8 6 .2 57. 5 28. 7 9 2 ., 0 61 . 7 30. 4 95. 0 64. 1 3 0 ..9 LI 0. 6 9. 0 118. 2 10. 3 1 5 5 ., 0 11. 2 139. 3 12. 6 6 4 ..6 7 4 .. 0 1 0 3 ..6 70 . 2 33. 4 114. 2 77. 1 3 7 .. 1 121 . 7 8 1 ., 0 40 .7 127. 3 87. 4 39. 9 141 . 4 94. 9 46. 5 50 51 52 1 6 7 ., 0 13. 3 238. 4 15. 7 213. 2 23. 2 204. 3 26. 3 237. 2 30. 2 53 54 M a r c h 9, 1 9 9 4 Private Financial Private Institutions B. 1 3 4 Year-End Balance Sheet of Private Financial Institutions 1973 1974 1975 1976 1977 1978 1979 1980 1 1994. 4 2150. 0 2240. 0 2507. 0 2813. 9 3111. 4 3543. 4 3995. 2 4507. 6 2 3 4 5 46 . 4 0 .7 30. 9 14. 9 56. 1 0. 9 37. 3 17. 8 69. 2 1 .2 46. 2 21.8 80. 4 1 .4 53. 0 26 . 0 91 .3 1 .6 60. 7 29. 1 101. 3 1. 4 67. 5 32. 4 117. 9 1 .3 79. 7 36. 9 140. 7 1 .3 97. 2 42. 2 170. 3 1 .2 117. 3 51 .8 6 1948. 0 2094. 0 2170. 8 2426. 6 2722. 6 3010. 0 3425. 5 3854. 6 4337. 3 17. 2 12. 4 5. 9 17. 9 13. 3 6 .4 18. 5 15. 5 10. 3 20. 3 17 .8 15. 5 21 .4 20. 1 14. 1 1 .7 3. 7 6.. 1 5. 1 5. 5 22. 7 23. 6 15. 8 0. 4 8. 2 26. 5 25. 0 20. 7 1 .2 9. 5 0. 5 3 1 6 2 4 1 32. 3 34. 5 41. 5 6. 4 18. 7 6. 8 9 3 3 2 7 3 2 4 0 .5 1 6 9 6 ., 1 8 8 ., 1 7 0 .. 1 152. 9 2 3 5 ., 0 314. 8 1 8 3 2 .. 1 1 3 1 .5 82. 5 162. 2 267. 8 368. 2043. 170. 92. 179. 298. 7 9 9 5 1 3 350. 2 2303. 5 174. 6 109. 0 204. 2 331. 7 388. 5 2610. 6 168. 3 129. 7 2 3 1 .9 369. 7 544. 6 170. 3 239. a 21 . 2 53. 0 3. 9 5 8 3 .. 0 178. 9 2 8 1 ..5 27..6 6 0 ..6 18..5 616. 8 183. 7 265. 8 37. 2 6 6 ., 0 18., 7 679. 204. 272. 47. 76. 22. 8 5 9 1 3 5 775. 9 240. 8 301. 8 48. 4 91 .5 25. 7 883. 3 284. 3 360. 4 52. 3 1 0 5 ..7 24. 9 9 8 2 .. 0 3 2 1 .,4 410. 8 79. 3 121 .6 32..5 24. 3 37. 7 6. 5 Ill ., 9 . 7 21 , 37..5 , 0 7. 1 1 7 .6 23.,6 38. 3 7 . 7 151 ., 4 34. 2 3 7 ,3 8. 9 168. 7 38. 4 40. 8 10. 2 196. 2 38.. 2 4 6 ..7 11 ., 7 2 4 6 ..6 37..6 48..3 13..6 2 7 8 ..8 2 3 0 3 ,. 2 2582. 8 365. 1378. 98. 48. 136. 207. 13 14 15 16 17 18 9 5 4 1 5 2 317. 1554. 89. 61. 146. 219. 29. 29. 28. 3. 14. 5. 442. 0 2924. 7 171 .5 156. 3 253. 5 395. 8 Institutions ^ Year-End Outstandings 1972 7 8 9 10 11 12 Financial 543. 6 3 2 1 6 ., 0 210. 4 1 8 9 .,6 2 7 5 ., 0 4 3 6 .3 Total Outstandings 1 assets Tangible assets Residential structures Nonres. plant 8 equipment Land 2 3 4 5 Total 6 financial assets Checkable dep. 8 currency Small time 8 savings dep. Large time deoosits M o n e y m a r k e t fund s h a r e s Fed. funds 8 security RPs Foreign deposits 7 8 9 10 11 12 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities Tax-exempt securities Corporate 8 foreign oonds 13 14 15 16 17 18 1 0 4 6 .. 0 3 2 5 ..8 4 5 8 .,5 101 ..7 132..8 39..8 Mortgages Consumer credit Bank loans n.e.c. Open market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 19 20 21 22 23 24 45 . 7 47 , .3 15..6 329 . 1 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 25 26 27 28 19 20 21 22 23 24 478. 9 147. 1 191 .8 17. 6 4 5 ., 9 6., 9 25 26 27 28 32.. 1 34. 3 5.,8 94..3 29 1 8 3 2 .. 4 30 31 32 33 34 223.2 5 5 3 ..3 8 6 .. 7 35 36 37 136..3 3 1 4 ,. 1 10 . 7 38 39 40 41 42 43 44 58 . 9 1 0 4 .8 3 5 .6 1 .2 2 5 .4 3 4 .7 8 . 0 45 46 47 48 49 24 . 0 2 .5 163 . 7 1 5 0 .5 2 .6 151 .5 172 . 1 2 .7 1 2 4 .3 1 7 6 .6 2 .4 1 4 4 .8 2 0 9 .6 3.0 173 . 4 239 . 0 3..9 1 6 9 .5 2 7 5 .5 4 .8 176 . 7 331 . 0 5 .0 1 9 3 .7 3 7 3 .9 4. 0 218 . 7 4 3 1 .6 50 51 52 162 . 1 1 0 9 .5 5 2 .6 181 .5 1 2 3 .6 5 7 .9 1 8 4 .5 1 2 6 .6 5 7 .9 2 0 3 .8 1 3 8 .6 6 5 .2 231 . 1 1 5 9 .5 71 .6 2 5 2 .4 1 7 5 .3 7 7 .0 2 9 0 .2 1 9 9 .5 9 0 .7 337 3 2 3 2 .8 1 0 4 .5 3 8 6 .8 2 6 6 .7 1 2 0 .1 Net worth C o r p o r a t e and s t o c k N o n c o r p o r a t e and m u t u a l 50 51 52 53 54 2 7 2 .4 3 4 .9 213 . 0 4 0 .6 1 3 3 .6 4 7 .9 1 5 5 .6 5 4 .4 2 0 8 .2 5 9 .3 1 9 1 .9 6 4 .8 1 9 8 .2 7 3 .2 2 3 1 .3 8 4 .7 2 6 0 .0 101 .4 Memo: M a r k e t v a l u e of e q u i t i e s T o t a l real e s t a t e (1) 53 54 2 8 5 9 ., 0 3 2 5 3 .. 1 3 6 5 7 .9 4 1 2 0 ,.8 236 . 1 6 2 7 ..3 1 6 6 .6 2 . 4 25 . 4 244 . 0 7 25..5 1 5 7 ,. 3 3 .7 29 . 1 258. 3 8 4 6 .9 1 4 3 ..4 3.. 7 45.. 1 2 8 3 ., 7 941 .7 171 .5 3. 9 52. 3 3 1 0 ,. 1 1 0 0 7 ..3 2 2 5 ..8 10 . .8 76 , . 1 3 3 7 .. 7 1 0 6 7 ,.4 2 5 4 ,.6 45,.2 9 2 .7 3 5 0 ..2 1 1 5 0 .. 9 3 1 3 .. 7 76 .4 1 1 6 .2 1 4 3 ,.5 3 2 0 ,.5 4,.9 1 5 0 .5 326 . 0 4 .6 158..5 420 , . 7 - 7 .9 1 6 7 ,. 1 4 8 3 ..3 - 1 6 .. 0 1 7 6 ..4 5 3 1 ., 4 - 1 9 ..2 187.. 3 6 25.. 0 - 8 ..3 1 9 7 .7 7 2 4 .3 9 .4 46 . 6 .9 131 . 41 . 0 , 1 .5 3 2 .6 41 . 7 15 . 1 3 5 .2 159 . 7 4 7 .9 1 .6 3 3 .3 55 . 1 21 .8 43 152 57 1 19 56 17 46 .5 .8 161 , 64 . 0 2 . 0 17 .5 6 2 .5 15,.9 45..5 193..3 76..3 1 .8 . 19..9 75.. 1 20..2 46.. 0 2 3 0 ,. 9 8 2 ,.9 2.. 0 2 4 .4 89 . 1 3 2 .7 51 274 86 2 28 115 41 2 0 .4 1 8 .3 2 7 .4 29 .6 2 9 .5 1968. 5 6..7 2 3 6 .. 1 5 8 9 ., 6 1 2 5 ., 7 23.. 1 2 0 5 5 ..5 . 0 . 6 . 1 .5 , .7 .4 .8 19 . 9 .8 . 1 . 4 . 0 . 0 . 9 .8 30.5 are in billions of dollars. 29 liabilities Checkable deposits Small time 3 savings dep. Large time deposits M o n e y m a r k e t fund shares Fed. funds 8 security RPs 30 31 32 33 34 2 0 7 .4 872 . 9 - 2 2 .5 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 35 36 37 61 302 93 1 28 128 49 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 38 39 40 41 42 43 44 S e c u r i t y debt Trade 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 45 46 47 48 49 .8 .3 .8 .9 .7 .8 . 0 3 7 .2 (1) Data Total Lines 3 * 5 * from line 4. nonresidential plant M a r c h 9, 1 9 9 4 Private Financial Private Institutions B. 134 42 Year-End 1 Total assets financial assets Checkable dep. 3 currency Small time a 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 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 8 foreign bonds 29 1984 1985 1986 4 9 7 1 .3 5 5 3 1 .3 6208. 6 7024. 3 8158. 0 9425. 0 2 0 0 .6 1 .2 139. 8 59. 6 227. 8 1 .2 159. 0 6 7 .6 254. 6 1 .1 177. 0 76. 4 282. 0 1 .3 2 0 0 .3 80. 4 319. 2 1 .7 2 2 6 .5 91 . 0 366. 2 2. 3 2 6 0 .6 103. 4 4770. 6 5303. 5 of dollars 11834. 7 6 10620. 0 56. 9 132. 1 91 . 3 34. 4 92. 1 21 . 6 62.1 146. 1 104. 4 39. 4 99 . 2 29. 7 523. 8 3547. 7 258. 2 2 3 2 .. 7 2 8 6 ..8 4 5 9 ,.2 6 4 0 ., 4 3 8 3 8 .,9 3 5 5 ..5 3 0 6 ..8 3 1 6 .. 4 5 0 0 .. 4 808. 8 4 2 4 1 .3 636. 0 375. 4 334. 2 539 .1 820. 8 4874. 3 524. 4 428. 9 365. 0 6 2 1 .2 1054. 4 5525. 5 619. 1 4 9 1 .8 475. 0 7 3 6 .. 1 1268. 3 6 3 4 9 .4 748. 2 664. 4 531 .2 885. 2 1 3 0 7 .0 6908. & 784. 0 804. 1 5 2 1 .3 1 0 07.2 1472. 2 7 4 9 6 .5 773. 5 3 8 1 .7 525. 3 1133. 9 1 3 4 1 .9 8139. 4 8 9 5 .9 945. 4 539. 6 1 33 0. 3 13 14 15 16 17 13 1 0 9 6 .2 . 3 4 1 ,.9 5 1 2 ..2 1 5 7 ..2 152.. 1 51 . 1 092. 3 3 5 8 .. 0 5 3 2 .8 159.. 1 159 . 0 5 8 ..8 1139. 9 402. 3 564. 2 155. 5 1 7 9 .. 2 65. 7 1367. 7 480. 9 622. 9 2 0 1 .3 2 1 3 .. 0 69 ., 4 1 4 8 6 .. 9 5 5 9 ., 1 664. 6 1 9 0 .5 2 6 2 ., 4 6 0 .. 0 1633. 3 612. 7 3 1 .5 2 1 8 ., 2 2 7 1 ., 0 5 4 ., 4 1 7 9 6 ., 7 6 38 , 0 731 ., 6 2 5 7 ., 1 3 0 8 ,, 3 5 9 ..8 1979. 3 6 8 1 .2 773 . 8 294. 0 348. 7 5 7 ..5 21 17. 3 735. 8 823. 0 3 5 0. 2 376. 7 55. 4 19 20 21 22 23 24 62. 3 42., 4 22., 9 512. 5 66 . 3 46 ., 1 26. 5 6 1 5 ., 9 96 .. 1 54. 2 29 ..6 7 3 6 .9 9 7 ., 1 7 3 .,8 3 5 ., 4 8 2 9 .3 80. 7 64. 2 53. 3 1 1 08.4 25 26 27 28 7509 , . 5 8 6 8 5 .. 0 11325. 7 29 30 31 32 33 34 Security debt Trade 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 billions 2 3 4 5 9778. 1 45 46 47 48 49 in 1 528. 0 4. 2 375. 4 148. 4 61 . 0 1 1 6 .6 83. 7 35. 6 86. 6 22. 2 59 .8 3 5 8 .3 98 . 9 1. 9 3 0 .8 161 .5 65 . 2 are 12362. 7 468. 0 3. 4 332. 5 132. 1 9058. 8 M u t u a l fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open market paper Other loans Data 11088. 0 414. 9 2. 9 293. 3 1 18. 7 52. 1 94. 2 67. 5 29 . 1 80 .1 19. 0 38 39 40 41 42 43 44 plant 10193. 0 7838. 8 2 1 6 .3 9 5 2 .8 -68 . 9 nonresidential 1989 42. 2 69 . 9 6 6 •0 21 . 0 71 . 6 21 . 2 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net Lines 3 * 5 * f r o m l i n e 4. 1988 6742. 3 35 36 37 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 r e a l e s t a t e (1) Outstandings 40. 2 63. 7 68. 4 15. 5 53. 6 21 . 9 367 3 1 1 9 9 .6 374 . 1 136,.2 1 4 4 .6 Net worth C o r p o r a t e and s t o c k N o n c o r p o r a t e and m u t u a l 1987 ear-End 5954. 0 4 5 7 4 .. 0 liabilities I n s t i t j t. r-. 40 . 1 50. 3 80. 5 18., 0 44. 3 23. 8 Checkable deposits Small time S savings dep. 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 (1) Financial Institutions 1983 30 31 32 33 34 50 51 52 Financial 1982 49 ,, 2 63. 18,. 1 3 7 9 .. 7 Security credit - a u 11 c a s h 5 c o m m . b a n k res. a a e credit Miscellaneous finan. assets Total Private 1981 34. 5 39 . 9 63. 5 17. 7 33. 8 18. 8 Mortgages Consumer credit Bank loans n.e.c. Open market paper 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 of v 7 8 9 10 11 12 19 20 21 22 23 24 Sheet Outstandings 2 Tangible assets Residential structures 3 Nonres. plant 8 equipment 4 Land 5 6 Total Balance 52.. 46 .. 20 ., 4 4 8 ,. 0 0 2 9 . 6 5096 , 394 1338 391 219 176 .8 . 4 . 3 .8 .7 223 . 3 1163 . 1 - 1 0 2 .6 76 389 113 2 33 174 66 . . . . . . . 9 2 7 0 3 2 0 5724. 2 6464. 9 76 66 63 949 , .2 ..6 , . 7 .. 9 9372 . 1 77 . 4 66. 9 49 . 3 9 7 6 ., 9 10 171. 3 65. 166. 125. 43. 119. 26. 4 4 3 9 4 4 7 8 9 1 0 1 1 12 2 1 2 4 6 4 5 9 .. 3 1 7 0 5 ., 4 466 . , 0 2 3 3 ..6 2 2 4 .. 1 5 2 6 .. 2 1 8 4 7 .. 7 4 8 2 .8 2 4 3 ..8 2 5 0 ,. 6 640 , ,3 1 9 6 9 .,8 6 8 5 ..6 2 9 2 .. 1 2 9 8 .. 7 6 2 3 ,. 2 2 0 3 9 .5 5 3 5 .5 316 . 1 292 . 7 6 5 3 .. 3 2 1 7 7 ..5 588 . 6 3 3 8 ,, 3 3 1 8 .. 7 6 4 9 .5 2 2 7 7 .4 633. 4 623. 1 396. 5 231 . 1 1 3 8 7 .. 6 -1 GO.,4 2 3 6 ., 1 1 5 3 9 ..3 -91 . 6 246 , .5 1382 . 9 -72 . 9 263 . 7 . 3 2227 , - 6 7 ,. 6 289 . 5 2412 -25 . 2 3 1 4 ,. 4 2 6 4 0 .3 -20 . 0 362. 8 3 1 2 7 ..2 - 3 1 .8 35 36 37 112.. 1 423 . 0 130.. 7 2 . 1 3 5 .8 195,.5 59 . 0 136.. 7 516 . 3 1 7 4 ,.6 2 .5 44,.8 219 . 5 76 . 6 240 616 223 2 46 252 88 , . 2 . 3 . 0 .5 . 6 . 4 .8 4 1 3 .5 7 7 3 ,. 1 317 . 1 2 .8 56 . 9 284 . 6 1 0 8 .6 460 . i 90 1 . 2 3 9 5 .5 3. 1 48 . 6 322 . 9 133 1 • 4 7 8 ,. 3 1 0 2 1 ,. 3 442 3,.5 64 , .3 377 . 7 152..3 5 6 6 .2 1 1 1 6 ..8 5 0 9 ., 1 6.. 0 .9 50 , 6 0 9 ,. 1 141 ,.3 38 39 40 61 62 63 66 56 1 2 287 692 80 2 2 347 312 . 5 . 3 .3 . 7 33 3 3 397 903 . 6 . 4 . 0 . 4 .5 7 3 .5 3. 2 2 .3 403 . 9 1041 . 7 76 .3 7 .5 3 .5 430 . 5 1 164. 9 91 , . 4 13..8 3..9 5 0 3 .. 2 1239 . 4 65 66 47 68 49 4 2 2 .. 1 5 5 4 ,. 3 7 9 ., 179 . 1 8 8 ., 40 . 9 46 . 1 2 .7 217 . 2 523 . 0 2 .9 266 . 3 532 . 4 49 1 2 272 621 3 9 7 .3 271 . 1 126 . 3 434 . 7 299 . 0 135 . 7 684 . 4 3 3 3 .7 150 . 7 5 5 9 .4 4 1 3 .8 1 4 5 .6 6 4 8 .5 4 8 3 .6 1 6 4 .9 740 . 0 553 . 3 186 . 7 820 . 9 632 . 1 1 3 8 .3 916 . 7 666 . 3 250 . 3 1056 . 9 744 . 9 292.0 50 51 52 2 7 2 .5 118 . 0 3 1 9 .4 1 3 5 .3 357 . 0 151 .8 3 7 6 .5 1 6 5 .5 5 2 1 .8 188 . 9 5 6 4 .5 215 . 0 466 . 2 2 6 4 .7 5 0 2 .2 272 . 3 5 1 6 .5 306 .6 53 54 .2 . 0 . 6 . 7 .8 . 0 .5 . 4 . 4 . 2 (larch 9, 1994 Private Financial Private Financial Institutions Year-End Outstandings Year-End Outstandings 1993 1992 1991 1990 1 12642.4 13830. 8 14675. 9 2 3 4 5 547. 3 4. 7 409. 7 132. 9 562. 6 5. 4 4 3 1 .6 125. 5 574. 3 6. 0 445. 9 122. 4 6 12095. 1 13268. 3 16040. 4 6 15451. 4 79. 4 178. 2 104. 0 73. 1 127. 3 20. 5 91. 2 186. 4 14101. 80. 0 156. 8 99. 6 59. 3 126. 2 27. 1 73. 6 198. 5 121. 2 70. 8 122. 4 21. 6 13 14 15 16 17 18 1724. 0 8519. 9 1024. 3 1046.7 568.9 1 3 6 1 .3 2323. 2 8953. 5 1300. 9 1135. 3 6 0 1 .,1 1472. 0 2616. 9408. 1489. 1235. 665. 1611. 19 20 21 22 23 24 2142. 747. 818. 370. 394. 45. 2153.8 739. 3 791. 7 336. 7 3 8 7 ..4 35. 3 2136. 745. 783. 313. 395. 31, 25 26 27 28 75. 0 71. 2 5 6 .4 1099. 5 101 .9 6 3 .. 0 6 1 ..4 1 1 5 7 ..1 29 11582. 7 1 2 7 0 4 ,.5 1 3 5 1 7 ..8 30 31 32 33 34 668. 5 2336. 3 5 3 7 .7 4 9 8 ..4 372. 3 7 1 5 ..0 2 3 5 3 ..0 4 7 6 ..9 5 3 9 ..6 3 5 5 ,.8 819. 9 2292. 2 3 9 7 .2 5 4 3 ..6 389 .4 902. .8 2211. .7 35 36 37 368 . 1 3 1 4 9 .8 - 7 ..3 3 9 3 .8 3 7 8 0 .4 2 .2 421, 5 4054, 3 4 9 .1 38 39 40 41 42 43 44 602 1140 549 4 52 417 117 45 46 47 48 49 98 15 3 509 1288 50 51 52 53 54 2 7 5 2 0 9 Total 0 6. 2 462. 7 120. I 589. 7 8 9 10 11 12 1 5 3 5 9 5 97. 1 77. 3 130. 3 10. 1 3116. 8 6 1607. 2 1365. a 755. 0 1826. 7 10066. are assets 1 Tangible assets Residential structures Nonres. plant & equipment Land 2 3 4 5 Total 6 financial assets Checkable dep. 8 currency 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 Fed. funds 8 security RPs Foreign deposits 7 8 9 10 11 12 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities Tax-exempt securities Corporate & foreign bonds 13 14 15 16 17 18 7 2200. 3 788, 0 7 8 1 .,1 322 4 3 9 5 ,,0 25, 3 Mortgages Consumer credit Bank loans n.e.c. Open market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 19 20 21 22 23 24 1 4 1 .3 63. 9 62. 9 1226. 2 175. 7 67. 7 63. 7 1368. ,4 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 25 26 27 28 3 7 7 9 6 14784. 4 Total liabilities 29 Checkable deposits S m a l l time 8 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 Fed. funds 8 security RPs 30 31 32 33 34 477, 5 4 4 4 4 ,.8 69..1 Life insurance reserves P e n s i o n fund r e s e r v e s Interbank claims, net 35 36 37 381. 3 559, .1 4 5 7 .9 . 1 .9 .9 .3 .0 .7 .1 813 1145 6 36 5 69 385 79 .9 .6 .6 .1 .1 .7 .1 1 0 4 2 ,.1 1 2 2 1 ..7 6 7 8 .2 5 .1 6 4 .2 394 .3 79 .9 1426 .8 1309 .1 747 .2 9 .0 56 . 3 393 . 5 103 . 1 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 38 39 40 41 42 43 44 .6 133 .8 10 .0 .3 5 9 6 .7 1 3 8 3 .5 .1 .7 4 .8 6 1 9 .1 1 4 7 7 .2 201 . 2 33 .7 6 .6 6 5 6 .6 1644 .2 Security debt Trade 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 45 46 47 48 49 1 0 5 9 .6 7 7 4 .3 2 8 5 .3 1126 .3 792 . 1 3 3 4 .2 1 1 5 8 .0 8 0 4 .1 3 5 3 .9 1256 4 0 9 .5 307 . 0 579 o 3 1 1 .4 6 7 5 .6 3 1 7 .3 .3 . 9 .9 .2 164 21 .0 881 . 8 3 7 4 .1 Net worth C o r p o r a t e and s t o c k N o n c o r p o r a t e and m u t u a l 50 51 52 760 .4 31$ .0 Memo: M a r k e t v a l u e of e q u i t i e s T o t a l r e a l e s t a t e (1) 53 54 (1) Data Institutions 43 8 . 1 3 4 B a l a n c e S h e e 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 in billions of dollars. Lines 3 + 5 < nonresidential from line 4. plant M a r c h 9, Domestic 1994 Wealth Domestic R . 11 F a c t o r s Annual for Change in Domestic Domestic Annual investment acq. of gold 1946 1947 1948 1949 1950 1951 1952 Flows 1953 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 + Net Wealth Wealth Flows 1945 4 Accounting & SDRs 7 8 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 l a n d 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 to B a l a n c e S h e e t b a s i s + R e v a l . of S D R h o l d i n g s 9 = Change 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 0.6 -1.2 4 58.5 19.3 69.6 19.0 19.3 10.1 .3 7.9 45.6 24.6 33.1 23.5 4.1 16.0 1.0 11.7 5 6 + 5 6 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 n : 67.9 97.2 117.7 67.9 33.2 94.5 113. 1 56.2 14.2 13.2 28.0 1.5 112.1 146.2 76 . 0 21.2 15.9 31 .6 1.3 60.6 68.8 41.3 0.1 8.8 17.5 1 . 1 36.1 45.8 36.8 -4.1 3.3 8.0 1.6 9.0 4.0 5.0 -.6 0.5 -1.1 -1.3 0.9 -2.2 (1) 18 19 20 - C h a n g e In e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net Invest. Revaluation 26.6 -1.5 28.1 36.0 -.6 36.6 21 22 23 - C h a n g e in H H c o r p . Net purchases Revaluation equities -8.2 0.9 -9.1 -2.5 1 . 0 -3.5 24 25 26 - Change/fin.Inst.corp.shares Net purchases Revaluation 0.2 0.3 -.1 + Change assets of 32 C h a n g e in n e t f o r e i g n of U . S . r e s i d e n t s Other 1.9 0.2 1 . 7 Lines Lines Data are - 7 8 101.4 54.0 47.2 9 114.8 101.4 54.0 47.2 10 109.1 166.2 105.8 21.8 10.4 25.2 2.6 100.8 145.1 97.5 12.2 9.1 24.8 1.3 67.6 73. 1 54.7 -2.0 6.4 13.7 2.0 56.9 53.6 36.9 -1.4 3.1 12.7 2.1 11 12 13 14 15 16 17 31.7 4.0 27.8 21.0 1.4 19.6 2.3 1.5 0.8 7.5 0.4 7.1 23.7 0.5 23.2 22.3 1.6 20.8 1.3 1. 0 0.3 0.6 0.7 -.1 0.4 0 . 4 -.1 2.7 1.1 1.6 1.6 1.2 0.4 -3.8 -.2 -3.6 4.3 -3.0 7.2 1 . 0 0.9 0.1 1.8 1.4 0.4 1.6 1 . 1 0.5 -6.2 0.7 -6.9 1.3 1 . 7 - .4 18 19 20 21 22 23 24 25 26 14.3 0.1 14.2 8.5 -.1 8.6 * " * * 3.6 7.9 2.1 1.1 1 . 0 -.7 4.8 0.2 -1.8 - . 7 1.7 1.2 0.3 - .6 -.8 2.0 0.8 4.4 -1.1 5.5 0.1 " -19.0 -5.5 -13.5 " -12.6 -3.5 -8.9 » 27 28 29 30 31 -.2 1.5 1 . 3 32 - .8 2.9 0.4 -2.7 -2.9 1.6 -1.8 -2.2 10.8 -2.9 0 . 9 5.9 33 34 35 adjustments: Memo: D o m e s t i c net 36 at y e a r - e n d CI) (2) - assets + N o n f i n a n e ial d i s c r e p a n c y + Unallocated financial flows + Unallocated revaluations 37 Gross 114.8 - oublic State 8 local governments U.S. government G o v t . - s p o n s . ente-pr ises Monetary authority - 33.2 - domestic P r i v a t e s e c t o r s , c o n s o l . (2) Sector basis, total Households Farm business Nonfarm noncorp. business Nonfinaneial corporations Private finan. institutions net - 117.7 Total, in - 97.2 11 12 13 14 15 16 17 33 34 35 sectors - 10 27 28 29 30 31 all - worth Domestic 11 12 in • 27 - 18 Product - billions outstanding 32 21 of * 33 * 3 4 - 24. dollars. • 35. 616.6 734.3 802.2 835.4 950.2 1051.6 1105.6 1152.8 36 212.4 235.2 2 6 1 .6 260.4 288.3 333.4 349.7 370.0 37 1 M a r c h 9, Domestic 1994 Wealth Domestic R.ll Annual Factors Accounting for Change in Domestic Wealth 45 Flows Annual 1957 1958 1959 1960 1961 1962 1 1 0 ..3 6 7 ,.5 4 2 .9 110.3 72.9 37.4 101.6 76.2 25.4 121.6 79.7 41.9 122.1 82.5 39.6 119.8 85.1 34.7 134.9 87.7 47.2 0..3 0.8 -2.3 -1.1 -1.7 -.9 -.9 1954 Domestic 1 2 3 85.9 57.6 28.3 4 -.3 107.8 60.6 47.2 " 20.9 20.7 1.9 11.9 5 6 7 8 36.. 1 27..4 " - 9.0 23.9 6.1 22.4 - 88.8 41.8 9 1 0 6 ..7 71.1 51.6 5.2 17.1 63.1 -1.9 13.9 49.8 investment 10 41 .8 88.8 1 0 6 ..7 71. 1 11 12 13 14 15 16 17 5 0 .4 1 2 4 .2 1 0 6 .6 0 .9 1 .5 9 .7 5 .2 88.2 151.2 110.6 2.3 6.6 27.6 3.7 1 0 9 ..8 146..4 93..2 7..4 8..7 34.. 0 2.,7 ?8 •1 54. 7 22. 1 6. 4 4. 4 20. 6 0. 7 18 19 20 2. 1 -2 . 1 4 .3 8.7 -3.0 11.7 15., 4 - 1 .8 17..2 10. 3 -1. 6 12. 0 21 22 23 66 .6 0 .3 66 .4 47.6 0.4 47.2 19.. 0 1 .. 0 17. 9 33. 7 o. 5 -34. 2 5. 0 0 .9 4 .2 6.7 1.2 5.6 * 2..1 1..7 0..4 3 1 -3. 2 2..8 - 3 .. 0 5,.7 0., 1 - 1 .9 -4. 7 2. 7 0. 1 51 .6 flows: + -Net a c q . of gold & -1.0 24.0 56.9 67.7 = Change in domestic 49. 8 56. 9 6 7 .7 Total, 69.0 103.9 8 1 .5 1.9 2.0 15.0 3.0 55. 0 56. 0 44. 9 1 .2 1 .3 3. 6 4. 2 69. 9 193. 7 166. 4 5. 0 4. 1 11 . 1 7. 3 78.,4 20..9 - 4 .8 4..3 5 3 13..6 2 .8 P r i v a t e s e c t o r s , c o n s o l . (2) Sector basis, total Households Farm business Nonfarm noncorp. business Nonfinaneial corporations Private finan. institutions 1 3 .3 1 .2 12 . 1 3.5 -7.0 10.4 1. 9 -3. 9 5. 8 8. 6 -2. 0 10. 6 9.. 1 -3..2 12.-3 - 9 9 .2 0 .3 9 8 .9 24.8 -1 . 0 25.7 -5. 1 -1. 2 -3. 9 100. 4 -1. 1 101 .5 - 6 2 ..8 - 2 ..7 - 6 0 ..1 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 ..8 4..3 - 8 ..1 - 1 5 .3 - 5 .5 -9.8 -7.2 -4.3 -2.9 9 -3. 4 2. 5 -9. 9 -3. a -6. 1 , 7 -7 . - 3 ,. 1 - 4 ..7 0., 1 0.1 2. 6 4. 0 2,.5 1.9 1.9 -2.3 2. 8 -1. 2 -3. 4 2. 3 9 5 . 1 .2 .5 - 1 ..2 " " 32 0 .2 1.5 33 34 35 - 2 .3 0 .8 2 .3 -1.2 0.5 3.8 36 1194.6 1283.4 1390.1 1461.2 1512.9 1576.0 1625.8 1682.7 1750.4 37 370.8 404.3 426.2 448.6 454.6 494.1 513.5 531.7 571.6 " - 2 .5 1 .9 6 -2. 4 1 .3 .9 -1 . 9 (1) (2) Data are in billions of dollars. Lines Lines all sectors (1) C h a n g e in e q . i n n o n c o r p . b u s P r o p r i e t o r s ' net invest. Revaluation C h a n g e in H H c o r p . Net purchases R e v a l u a t ion equities in net assets 11 12 13 14 15 16 17 18 19 20 21 22 23 - Change/fin.Inst.corp.shares Net purchases Revaluation of 24 25 26 public 27 State & local governments U.S. government Govt.-spons. enterprises Monetary authority - Change of Other 2..8 - 5 .. 1 .2 domestic 63.1 + Change 4. 0 wealth .8 .6 .5 . 0 .0 .8 .7 4 70 194 165 io 4 9 - 9 .2 - 3 .8 - 5 .4 3. 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 0.3 tangible assets 21.1 + C h a n g e in l a n d 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 to B a l a n c e S h e e t b a s i s + R e v a l . of S D R h o l d i n g s - 27 28 29 30 31 -.8 -3.2 2.4 Flows P u r c h a s e s of p h y s i c a l a s s e t s - Capital consumption = Net capital formation C h a n g e in c o n s o l i d a t e d net worth: 24 25 26 Wealth in n e t f o r e i g n U.S. residents assets adjustments: + N o n f i n a n e ial d i s c r e p a n c y • Unallocated financial flows • Unallocated revaluations D o m e s t i c net worth at y e a r - e n d Gross 28 29 30 31 Domestic 33 34 35 outstanding 36 Product 1 1 + 2 7 - 3 2 + 3 3 + 3 4 + 1 2 - 1 8 - 21 - 2 4 . 35. 37 M a r c h 9, Domestic 1994 Wealth Domestic R.ll 46 Factors Accounting for Change In Domestic Annual Annual Flows Domestic Investment * Net acq. of gold 8 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 C h a n g e in l a n d v a l u e s A d j u s t m e n t of c a p i t a ^ - e n s u m p t i o n to B a l a n c e S h e e t b a s i •; R e v a l . o f SDR hold. - 3s 9 = Change in domestic 10 Total, all wealth idated C h a n g e in . net worth: sectors 1963 1964 1965 1966 1967 1968 145..2 91,.2 5 4 .0 158. 6 9 5 .,6 6 3 .,0 1 8 1 .4 100..6 8 0 .8 1 9 8 .9 1 0 7 .5 .4 91 , 1 9 8 .6 1 1 6 ..8 8 1 ..8 2 2 0 ,.9 1 2 8 ,. 0 92..9 .5 - ..1 -1..7 - .6 - 1 ..2 -1. 2 -5.0 27.8 12. 5 19. 3 14.4 27.3 48.5 30.1 36. 4 35. 0 98. 5 55. 3 * * - * * 0.3 -.3 169.1 152. 1 245. 5 76.3 94. 6 1 2 1 .1 (1) 1 2 3 1.. 0 0..1 -•.6 4 9 5 .9 46 .9 79 .9 4 2 .7 116.8 56. 0 5 6 76.3 94. 6 121 .1 169.1 152. 1 179. 359. 287. 9. 10. 43. 8. 0 7 6 9 2 4 3 * 0.1 7 8 9 245. 5 243 . 7 2 0 3 .8 2 5 9 .4 452. 2 346. 8 12. 0 24. 9 57. 9 9. 3 246 150 44 8 19 70 3 228 241 147 5 17 66 7 1 8 - C h a n g e in e q . i n n o n c o r p . b u s . 19 P r o p r i e t o r s ' net invest. 20 Revaluation 9.6 -2.9 12.5 12. 4 -5. 4 17. 8 21 .8 -3.6 25.4 23.5 -2.2 25.7 19. 3 -4. 1 23. 4 35. 9 -2. 7 38. 6 21 22 23 - C h a n g e in H H c o r p . Net purchases Revaluation equities 70.4 -2.6 73.0 71. 3 - 1 .9 7 3 .. 1 71.6 -4.8 76.4 -67.6 -3.5 -64.1 133. 4 -5. 5 138. 9 133. 2 -10. 6 143. 8 24 25 26 - Change/fin.inst.corp.shares Net purchases Revaluation 13.8 4.1 9.7 13. 2 4., 0 9. 2 14.9 5.2 9.8 -4.7 6.2 -10.9 28. 0 7. 8 20. 2 23. 8 11. 0 12. 8 27 28 29 30 31 + C h a n g e in n e t 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 -4.7 -2.7 -2.1 - 6 .9 - 3 ., 0 -3. 9 0.. 1 -4.2 -2.5 -1.8 0.1 -7.1 -3.9 -3.3 0.1 -12. 9 -5. 0 -8. 0 0 .2 -12. 8 -4. 6 -8. 5 0. 3 32 - C h a n g e in n e t f o r e i g n of U . S . r e s i d e n t s sectors, consol. basis, total (2) Households 14 15 16 17 Farm business Nonfarm noncorp. business Non f inane ial c o r p o r a t i o n s Private finan. institutions " * " " assets .8 .7 .8 .9 .4 . 1 .8 2 7 .6 - 7 .7 3 5 .3 - 2 0 0 .3 -15 . 9 - 1 8 4 .5 76 .6 2 0 .8 5 5 .8 -1 . 1 - 7 .7 6 .4 0 .3 275.7 10 .9 .7 .3 .0 .5 .3 .5 297.6 4 9 1 .4 342.9 18.7 29.1 86.7 11.7 11 12 13 14 15 16 17 22 . 1 - 7 .5 29 .6 46.6 -7.4 54.0 18 19 20 -15.8 -2 . 1 -13 . 7 83.8 -11.9 95.7 21 22 23 63.4 26.7 36.7 24 25 26 -30.1 -8.9 -21.5 0.3 27 28 29 30 31 -13.7 32 -4.2 4.9 -6.3 33 34 35 6 .5 7 .7 - 1 .2 - 2 0 .2 -9 . 0 - 1 1 .5 0 .3 * 4. 0 - .5 1 .5 2.8 7. 0 5.9 3.8 3. 7 1.9 2.4 -1.3 0. 7 0..8 0.9 0.8 -4.7 -2.7 -5.4 6.0 7 -3. 4 -6. 3 4. 6 - 1 .5 1826.6 1 9 2 1 .2 2042.4 2211.5 2363. 6 2609. 1 2 8 5 2 .9 3 0 5 6 .6 3332.3 36 603.1 6 4 8 ..1 702.6 769.7 814. 3 889. 3 9 5 9 .4 1 0 1 0 .7 1097.2 37 adjustments: 33 34 35 + Nonfinanclal discrepancy + Unallocated financial flows + Unallocated revaluations 36 Domestic net at y e a r - e n d 37 Gross are 2 7 2 ..8 169..4 103.,4 domestic 13 Data 2 3 5 .. 7 1 5 4 ,.6 8 1 .. 1 275.7 134.3 242.7 176.9 13.8 8.9 37.2 6.1 Lines Lines 2 4 1 ..4 141 . .5 99 . 9 2 0 3 .8 107. 6 204. 5 1 6 1 .5 5. 6 7. 5 23. 2 6. 1 (1) (2) 1971 243 . 7 80.8 174.6 145.2 5.7 4.5 14.2 3.4 Other 1970 * 182.1 133.3 63.3 7.1 16.9 43. 0 3.3 11 P r i v a t e 12 Sector Flows 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 4 Wealth Wealth worth Domestic outstanding Product 1 1 * 2 7 - 3 2 + 3 3 + 3 4 + 3 1 2 - 1 8 - 21 - 2 4 . In billions 6 of dollars. 2 .6 5 . 0 -10 . 0 - 1 .0 8 .6 -11 . 1 opm^tic R.ll Annual i " Factors Accounting for Change in Domestic 1976 1977 1978 316.4 186.3 130. 1 186. 0 99.4 395. 1 148.9 248.8 156.4 360.4 272.2 88. 2 446.4 301.4 145. 0 0.1 0.1 275.3 175.5 1.4 -.2 569.9 538.9 0 . 9 416.5 368.8 234.1 134.7 367.2 203.8 163.4 261.2 219.6 * 625.9 540.9 336 . 4 204.5 0.2 569. 9 678. 9 538. 9 636. 3 3 8 0 .2 2 5 6 .1 694. 5 4 3 6 .2 258. 2 - 1 .2 1 .2 3 7 1 .8 223. 1 506. 4 3 2 7 .4 618. 6 423. 4 0.1 3 0 .1 -• 5 799.8 1089. 0 1 3 0 1 .3 680. 1 498.1 181.9 " investment flows: 1 2 3 + Net 4 acq. of gold 8 4 = Change 1279.7 in domestic all sectors 7 9 9 .8 1 0 8 9 .0 1 3 0 1 .3 1279. 7 Total, 1146. 6 1398. 5 862. 9 108. 4 103. 5 2 8 5 .. 7 3 5 .. 9 1 388.9 1803. 4 1133. 0 104. 3 1 3 7 .2 381 .8 46 .. 1 1379. 9 1 96 0 .2 1 2 3 5 ., 0 8 3 .. 6 1 5 3 ,.5 3 8 8 ,.6 45,, 2 P r i v a t e s e c t o r s , c o n s o 1 . (2) Sector basis, total Households Farm business Nonfarm noncoro. business N o n f i n a n e ial c o r p o r a t i o n s Private finan. institutions (1) 11 12 13 14 15 16 17 18 19 20 6 5 1 .6 926. 9 625. 8 48. 9 36 ., 0 1 9 6 ..8 18.,5 6 9 1 .6 1 060.5 752. 3 71 .3 4 8 .. 1 161 .5 2 6 ,,2 18 19 20 7 3 ,,3 -17 . 4 90 , .7 1 3 3 ,. 7 1 ., 1 1 3 2 .6 7 7 .,7 - 3 5 ., 6 1 1 3 ., 2 8 1 ., 0 -22 . 0 1 0 3 .. 0 1 1 2 ..9 - 2 6 .. 1 1 3 9 ,. 0 1 2 3 ..7 - 2 1 ,3 1 4 5 ,. 0 203, 5 - 3 1 .8 , 235 . 4 2 3 3 ., 3 - 5 3 ., 4 2 5 6 ..7 231 .. 6 - 6 1 ,.5 2 9 3 .. 1 - 21 22 7 7 .8 -13 . 1 9 0 .9 - 1 9 1 .6 - 1 0 .6 -181 . 0 - 2 0 8 .. 7 2 .3 -210 . 9 .6 121 . 2 . 4 1 1 9 .2 2 0 3 .8 3. 4 200 . 4 - 1 0 0 ,. 1 - 6 .7 - 9 3 .4 10.. 3 - 1 0 ,. 7 21 . 1 129.. 7 - 1 9 .. 7 149.. 4 2 5 0 ..6 -1 .5 252 . 1 - C h a n g e in H H c o r p . Net purchases Revaluation 60 . 4 2 4 .8 3 5 .6 - 4 7 .6 21 . 6 - 6 9 .2 - 7 6 .3 2 .7 -79 . 0 7 2 .7 2 .3 7 0 .4 5 2 .3 8 .3 4 3 .9 - 1 8 .2 10 . 4 - 2 8 .7 38 . 1 12 .5 2 5 .6 -12. 1 -3.3 -79.9 -5.1 -76.7 1.8 28 29 30 31 4.5 -6 . 3 1 . 1 0 . 1 -11.1 2.2 0.1 0.1 -60 -1 -60 1 0 -41.7 12.7 -54.8 0.4 0.1 9 8 .2 11 .8 86 . 4 51 .5 14 .2 37 .3 -60.6 -2.0 -60.2 1.5 0.1 -31.4 5.2 -37.6 0.9 0.1 C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net invest. Revaluation 21 22 23 - Change/fin.inst.corp.shares Net purchases Revaluation 24 25 26 Change of Other -1.4 0.7 -23. 1 -13.5 0.6 11.3 -48.5 36 3748.8 4318.7 4 9 9 7 .6 37 1207.0 1349.6 1458.6 0.4 6.0 -10.3 11.4 77.4 -10.8 -6.5 9.9 -7.6 -1.4 5.7 -15.0 -23. 2 10.7 -14.8 10.2 3.9 5536.5 6162.4 6962.2 8051.2 9352.4 10632.2 1585.9 1768.4 1974.1 2232.7 2488.7 27 0 8 . 0 -6 . 0 12.4 -13.8 (1) (2) Data are In billions of dollars. Lines Lines 10 equities + C h a n g e in n e t a s s e t s of P u b l i c sectors State 3 local governments U.S. government Govt.-spons. enterprises Monetary authority - 38.8 33 34 35 9 854. 4 859. 8 4 9 7 .9 52. 6 76. 2 2 1 1 .8 22..2 7 28. 6 5 2 1 .3 159. 8 3 8 ., 1 42. 2 278. 3 3. 2 -.6 7 8 625. 9 582. 2 4 7 6 .8 1 8 0 ,, 1 7 8 .. 3 5 8 ,,8 1 4 0 ,. 2 17,.3 -15.2 1 . 1 -16.7 0.3 wealth 5 6 domestic 4 5 0 .8 662. 5 4 4 6 .8 36 . 39 .. 2 1 1 9 ,, 4 19..5 27 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 670.7 + C h a n g e in l a n d v a l u e s 426.8 - A d j u s t m e n t of c a p i t a l c o n s u m p t i o n - .6 to B a l a n c e S h e e t b a s i s * R e v a l . of S D R h o l d i n g s -.1 12 13 14 15 16 17 26 Flows P u r c h a s e s of p h y s i c a l a s s e t s - Capital consumption = Net capital formation 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 : 416. 5 j i t h 1980 1979 Domestic 24 25 « Annual 1975 23 w Wealth Flows 11 c in U.S. t foreign -es idents 28 29 30 31 assets 32 adjustments: + Nonfinancial discrepancy + Unallocated financial flows + Unallocated revaluations D o m e s t i c net worth at y e a r - e n d Gross 27 Domestic 33 34 35 outstanding 36 Product 1 1 + 2 7 - 3 2 + 3 3 + 3 4 + 1 2 - 1 8 - 21 - 2 4 . 35. 37 M a r c h 9, Domestic 1994 Wealth Domestic R.ll 48 Annual Domestic investment + Net acq. of gold & in Domestic = Change in domestic sectors 10 Total, P r i v a t e s e c t o r s , c o n s o l . (2) Sector basis, total Households Farm business Nonfarm noncorp. business N o n f inane ial c o r p o r a t i o n s Private flnan. institutions 18 19 20 - (1) 21 22 23 - C h a n g e in H H c o r p . Net purchases Revaluation 24 25 26 - Change/fin.inst.corp.shares Net purchases Revaluation C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net invest. Revaluation equities C h a n g e in n e t a s s e t s of p u b l i c sectors State & local governments U.S. government Govt. -spons. enterprises Monetary authority C h a n g e in n e t f o r e i g n of U . S . r e s i d e n t s • + + 36 D o m e s t i c net at y e a r - e n d 37 Gross Data are 786.5 563.6 222.9 739.9 613.1 126.7 821 . 7 642.8 178.8 496.8 278.8 225.4 206.9 -2.8 -.2 -.7 1988 1989 1153.0 803.0 350. 0 1230.7 858.5 372.2 1 2 9 1 .6 9 3 0 .7 3 6 0 .9 242.0 203. 3 349.6 295.6 229. 1 364.6 354.4 417.7 0.7 0.8 1.4 -.5 773.8 796.8 997.1 965.1 1984 1985 1986 1036.8 669.4 367.4 1067.5 711.6 355.9 1107.2 756.8 350.4 134.5 256.4 149.3 292.4 163.0 253.3 -.2 -7.0 -.3 -3.2 -.4 -5.8 -.2 9 6 5 ., 1 1 1 3 9 ., 0 10 1 0 4 7 .. 1 1463. 3 1 093.5 32. 5 9 6 ..2 145.4 72., 0 1 3 2 6 .. 1 2128. 9 1 7 3 9 ..4 29.. 1 127. 2 113. 1 Ill . 2 11 12 13 14 15 16 17 1 1 7 .. 4 - 7 1 ., 0 1 8 8 ..4 1 2 8 ., 4 - 2 4 ., 0 152. 5 155., 1 - 3 1 .. 1 186. 2 18 19 20 175.. 4 -98. 3 2 7 3 ..6 - 3 3 .. 7 - 8 7 ., 0 5 3 ..3 1 2 5 .,8 99. 5 225. 3 3 0 2 .,7 -131 . ,4 4 3 4 ., 1 21 22 23 171 ,.4 12,.8 1 5 8 ,.6 2 5 ..2 14,.7 10,.5 1 6 2 ., 0 -2. 3 1 6 4 ..3 3 4 5 .. 1 24..3 3 2 0 ., 7 24 25 26 - 1 9 6 ,.2 - 7 ,,2 - 1 9 2 ,. 4 3,,4 0.. 1 -202. 5 - 3 1 .1 -175. 1 3. 6 0., 1 27 28 29 30 31 28..5 17. 2 - 9 ..6 ,9 - 4 4 ..4 - 4 2 ..4 33 34 35 1 0 0 2 ..7 560. 9 5 7 6 .,4 812. 9 7 7 3 ..8 7 9 6 .,8 1 1 2 2 .. 1 1 1 6 2 ,. 1 6 5 7 .. 0 - 1 1 .. 1 1 6 2 ..9 3 4 2 ..8 8.. 3 7 2 1 .,9 894. 9 7 1 3 ., 7 - 3 7 .3 33. 2 147. 9 36. 2 7 6 5 ., 0 1 1 0 3 ., 0 940. 4 5.. 1 3 9 .,4 6 8 ..5 48., 9 954. 7 853. 8 735. 9 -99. 7 59. 3 8 3 .,1 75.9 9 0 4 ,.5 1 4 1 4 ..6 1 2 4 4 ,.6 - 7 0 ,. 0 8 6 ..2 64.. 7 8 5 ,.8 9 8 4 ., 6 1 3 8 9 ., 0 1 2 1 6 ., 3 - 2 9 ..4 82. 3 2 8 ,,3 8 6 ..5 152..6 - 4 6 ..1 1 9 8 ..7 -1 . 0 - 8 3 ..7 8 2 ..6 4 3 .. 9 - 9 0 ., 7 1 3 4 ..6 32 3 - 8 3 .. 0 5 0 .. 7 2 2 .8 -69 . 0 91 . .8 5 7 ..6 - 3 9 ,.5 97,. 1 - 9 6 .. 0 - 4 5 .. 1 - 5 0 ..8 62..3 - 2 0 .. 7 8 3 .. 0 129. 2 -22. 5 151 .. 7 - 7 6 ,9 , - 6 5 .. 0 - 1 1 ..9 267 . 0 - 1 1 3 ,.5 3 8 0 .5 - 1 6 ..7 29..9 - 4 6 ..6 Ill . 7 25, 2 .6 86 , 1 6 4 .,9 44., 7 1 2 0 .,2 8.. 2 - 2 ..5 10.. 7 2 2 0 ,.4 4 3 .5 176,. 9 -84.9 -10.1 -76.1 1.2 0. 1 -145.4 -1 . 7 -145.5 1.7 0.1 - 1 1 ,.9 46 .2 - 3 5 ,.6 7,.4 18..4 - 3 9 ,.8 11634.9 12195.8 3030.6 3149.6 9 9 7 ., 1 1145. 7 1254. 5 9 6 4 ..2 55. 9 70. 2 8 3 ..4 73.,8 - 1 9 2 .. 0 14..2 - 2 0 5 ,.9 .5 0.. 1 - 2 2 1 ..6 11 , .2 - 2 3 3 ,. 9 0..9 0. 1 9 .2 12 2 - 7 5 ..4 13.,9 - 1 0 ..5 - 2 8 ..4 -1.3 -67.8 -9.3 12772.2 13585.0 14358.9 15155.6 16152.8 17117.9 18257.0 36 3405.1 3777.2 4038.8 4268.7 4540.0 4900.4 5250.8 37 -179.1 13.1 -193.3 1 . 1 -175.2 4.3 -182.2 2.7 -10. 2 - 1 0 .. 7 2. 3 - 1 8 3 ..5 - 3 ..7 - 1 8 1 ..8 1..9 0.. 1 assets Nonfinaneial discrepancy Unallocated financial flows Unallocated revaluations Lines Lines 1983 adjustments: 33 34 35 (1) (2) 1982 Flows domes11 11 12 13 14 15 16 17 Other 1981 wealth C h a n g e in c o n s o l i d a t e d net worth: all Wealth Wealth 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 C h a n g e in l a n d 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 to B a l a n c e S h e e t b a s i s R e v a l . of S D R h o l d i n g s - Change flows: 4 32 for Annual P u r c h a s e s of p h y s i c a l a s s e t s - Capital consumption = Net capital formation 27 28 29 30 31 Accounting Flows 1 2 3 9 Factors worth Domestic 11 12 in billions outstanding Product * 27 - 18 24..8 - 8 6 .. 1 16,.0 3 2 + 3 3 + 21 - 2 4 . of dollars. M a r c h 9, Domestic 1994 Wealth Domestic R.ll Factors Accounting for Change in D o m e s t i c Wealth Wealth ^ ^ Annual Annual 1990 1991 1992 1993 Domestic 1 2 3 1277.1 9 8 0 .8 296.3 1194.7 1030.7 164.3 1293.8 1087.5 206.3 1430.6 1123.5 3 0 7 .1 4 0.2 0.2 -2.3 0.6 5 6 308.4 -615.4 199.2 -213.8 205.7 -457.7 157.8 -57.6 7 8 -7.8 0.8 -.4 0.1 -6.4 -.4 6.1 9 -1.8 150.1 -42. 0 4 0 1 .8 * - investment flows: P u r c h a s e s of p h y s i c a l a s s e t s - Capital consumption = Net capital formation 1 2 3 *•Net 4 acq. of gold 8 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 l a n d 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 to B a l a n c e S h e e t b a s i s + R e v a l . of S D R h o l d i n g s = Change in domestic 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 : -42. 0 401.8 186.5 759.3 1034.6 16.8 -84.5 -239.4 31 .7 579.5 1085.9 975.9 5.9 -48.9 55.1 97.9 -95.9 -12.5 -83.4 -70.1 -5.7 -64.4 -53.3 -24.9 -28.4 -92.5 - 2 1 .8 -70.7 744.1 -25.6 7 6 9 .7 401.5 31 . 2 370.3 125.1 -43.5 168.6 24 25 26 -137.8 -7.9 -129.8 5 3 1 .4 75.2 456.2 2 4 1 .4 51.9 189.5 434.5 144.7 289.8 27 28 29 30 31 -235.8 -46.4 -193.1 3.7 0.1 -274.1 -36.6 -240.5 2.9 -400.1 -54.2 - 3 5 1 .7 5.8 0.1 -343.2 -61.3 -287.5 5.5 0.1 32 -63.1 -50.6 -118.9 -176.7 10 -1.8 11 12 13 14 15 16 17 194.8 -103.0 -22.5 12.1 -78.4 -36.9 20.6 18 19 20 -67.5 -35.5 -32. 0 21 22 23 150. 1 391.9 1571.6 1798.6 -11.4 -81 . 9 -200.4 45.4 * Total, -7.8 -44.6 28.4 -9.6 -3.9 -4.8 -3.6 32.6 23.6 -38.2 52.0 -25. 0 36 18255.1 18405.2 18363.2 18765.0 6 0 38.6 6379.4 5546.1 37 5723.0 in billions of dollars. 9 domestic (1) 10 - C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net invest. Revaluation 18 19 20 - C h a n g e in H H c o r p . Net purchases Revaluation equities 21 22 23 - Change/fin.inst.corp.shares Net purchases Revaluation 24 25 26 + C h a n g e in n e t 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 27 28 29 30 31 Change of in n e t f o r e i g n U.S. residents assets 32 adjustments: > N o n f i n a n e ial d i s c r e p a n c y + U n a l l o c a t e d financial flows + Unallocated revaluations D o m e s t i c net w o r t h at y e a r - e n d Gross (1) L i n e s (2) L i n e s are sectors 7 8 11 12 13 14 15 16 17 Other 33 34 35 all wealth 5 6 P r i v a t e s e c t o r s , c o n s o l . (2) Sector basis, total Households Farm business Nonfarm noncorp . business Nonfinancial corporations Private finan. institutions - Data Flows Flows Domestic 33 34 35 outstanding 36 Product 1 1 + 2 7 - 3 2 + 3 3 + 3 4 + 1 2 - 1 8 - 21 - 2 4 . 35. 37 M a r c h 9, 1 9 9 4 U.S. Net Foreign Annual Assets U.S. R.109 50 Factors U.S. net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 4 + U.S.net sales 5 = U.S.net f g n . in v e s t m e n t , of gold 12 13 14 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 15 16 17 - Reval.of Change -Direct fgn.dir.inv.in in v a l u e i n v e s t m e n t (1) in U.S. + Other = Change revaluations 23 Memo: Net foreign (1) E x c l u d e s are in in U.S.net assets capital billions fgn.assets outstanding gains. of dollars 1947 1948 9.9 9.0 3.0 -.8 -.8 2.2 Net Foreign Net Foreign Assets Assets 1949 1.3 1.3 Flows 1950 -2.2 1.3 3.5 0.7 1.3 0.7 0.3 1.6 -1.7 0.5 0 . 1 0.2 0.1 -.1 -.1 0.4 0.5 0.1 0.3 0.3 -2.2 -1 .5 -.2 -.1 7.7 1.5 1. 1 0.6 0. 1 0.1 -.2 -.2 0.4 0.5 0.2 0.2 0 . 4 0 . 4 0.1 1.2 0.1 2.2 -.1 0.1 -.1 -.2 -.1 -.2 -.2 -.1 -.2 0.4 1 . 1 0.7 0.5 1.3 0.7 0.4 1 . 1 0.7 0.5 1 . 1 0.6 0.1 0.1 0 .2 0.1 0.2 0.2 0.4 0.5 -.2 1.2 1.2 0.4 0.4 0.2 -.1 0.2 - . 1 19 20 -.5 -.2 0.3 0.1 1.4 3.6 7.9 2.1 1 . 1 1 . 0 0.2 U.S. + R e v a l u a t i o n of U . S . o f f i c i a l f g n . 18 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 v a l u e 20 - N e t i n c r e a s e in f g n . l i a b . 22 4.9 3.0 -1.9 adj. R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 21 1946 8 SDKs + 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 v a l u e 8 -Net purchases Data Change Annual 1 2 3 9 10 11 for Flows 1945 - Accounting 0.1 0.1 0.3 0.1 9 10 11 0 . 9 1.7 0.9 12 13 14 0 . 2 0.3 0.1 15 16 17 18 -.2 -1.0 0.8 1.3 21 -.2 1.5 1 .3 22 M a r c h 9, 1 9 9 4 U.S. Net Foreign U.S. Assets R.109 Annual Factors Accounting for Change in U.S. Net Foreign Net Foreign Assets Assets ^ ^ Flows Annual 1954 1955 1956 * 1.4 1.4 1957 -1.3 0.8 2.1 1958 4.6 4.9 0.3 1959 0.4 3.8 3.5 1960 -1.9 2.8 4.6 1961 1.8 5.7 3.9 2.8 6.2 3.4 Flows 1962 1 2 3 -.3 1.2 1.5 2.3 5.1 2.8 U.S. net foreign investment N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 4 0.3 * -.3 -.8 2.3 1.1 1.7 0.9 0.9 > U.S.net sales 5 * 0.1 -1.6 3.8 2.6 -.8 3.5 3.7 3.2 = U.S.net fgn. investment, 0.3 0.5 0.3 0.4 0.6 0.2 0.1 0.2 0.1 -.4 -.4 * 0.5 0.9 0.3 0.4 0.6 0.2 -.4 0.3 0.7 0.2 0.9 0.8 + R e v a l u a t i o n of f o r e i g n e q u i t i e s -1.2 h e l d by U . S . r e s i d e n t s -.2 C h a n g e in v a l u e 1.0 -Net purchases 1.1 1.6 0.5 1.2 1.3 0.1 0.1 0.4 0.3 -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 . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 9 10 11 12 13 0.7 1.4 0.7 0.9 1.8 0.8 1.2 3.1 2.0 0.4 2.9 2.4 0.8 2.0 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 C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 12 13 14 15 16 0.3 0.4 0.1 0.2 0.4 0.2 0.2 0.4 0.2 0.1 0.3 0.2 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 15 16 17 18 2 1 -.2 -.2 -.1 -.1 0.3 0.3 + R e v a l u a t i o n of U . S . o f f i c i a l f g n . e x c h a n g e 8 net IMF p o s i t i o n -.6 C h a n g e in v a l u e -.6 - N e t i n c r e a s e in f g n . l i a b . 18 19 20 21 0.6 21 22 0.2 - 23 19.7 - - - 0.6 0.6 0.4 0.4 1.6 4.1 1.5 3.5 21.3 24.7 - - - * * * * -.7 1.0 0.5 0.1 2.3 -.9 + Other 4.0 2.5 0.1 2.6 4.0 2.5 = Change 28.7 31.2 31.4 -.4 -.4 34.0 37.9 40.4 are in billions of dollars. gold 8 SDRs fgn.dir.inv.in in v a l u e i n v e s t m e n t (1) adj. U.S. revaluations in Memo : Net foreign (1) E x c l u d e s Data of U.S.net assets capital 1 2 3 4 5 6 7 8 fgn.assets 22 outstanding 23 gains. M a r c h 9, U.S. Net 1994 Foreign U.S. Assets R.109 52 Annual 1 2 3 Factors Accounting for Change In U.S. Net Foreign Net 4.1 7.6 3.5 5.9 9.6 3.7 5.0 7.2 2.3 3.7 7.2 3.5 2.4 10.3 7.9 Asset Assets Flows U.S. net foreign investment N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s Foreign 8.8 1 . 1 9.8 -1 . 1 9.3 10.4 3.0 7.9 4.9 Annual Flows -10.5 11.5 22.0 1 2 3 4 * U.S.net sales & SDRs 0.5 0.1 1 . 7 0.6 1.2 1.2 -1.0 -.1 0.6 4 5 = U.S.net fgn.investment, adj. 4.5 6 . 0 6.6 4.2 3.5 2.2 -2.1 2.9 -9.9 5 -.7 0.4 1 . 1 -.6 -1 . 0 0.1 0.7 -.2 0.8 -1.4 - . 7 0.7 -.4 0.9 1.3 - . 4 1.2 1.6 -1 . 0 0.5 1.5 -1.5 -.4 1 . 1 1.9 2.1 1.6 1.4 -.3 1.2 -1.7 0.8 -2.0 -.4 -.3 12.2 12.9 0.7 1.9 4.0 2.1 -4.3 0.2 1.6 -.2 0.4 0.7 2.8 3.6 0.8 9 10 11 -1.8 3.0 4.8 2.8 3.7 3.8 5.9 10.7 4.8 1 .8 3.5 3.5 6.1 4.4 5.9 3.2 3.4 8.4 4.9 3.7 10.5 6.8 5.6 12.1 6.5 12 13 14 0.1 0 . 1 0.4 0.3 -.2 0.2 0.1 0.3 0.4 0 . 9 0.7 0 . 9 0.3 0.6 0.4 15 16 17 * -1.7 -1.7 18 19 20 of gold + 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 h e l d oy U . S . r e s i d e n t s 7 C h a n g e in v a l u e 8 -Net purchases 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 h e l d by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 12 13 14 • R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 15 16 17 - Reval.of Change -Direct fgn.dir.inv.in in v a l u e i n v e s t m e n t (1) U.S. • R e v a l u a t i o n of U . S . o f f i c i a l f g n . 18 e x c h a n g e & net IMF p o s i t i o n 19 C n a n g e in v a l u e 20 - N e t I n c r e a s e in f g n . l i a o . 21 * Otner 22 = Change 23 Net revaluations foreign (1) E x c l u d e s Data in are in U.S.net assets capital billions fgn.assets outstanding gains. of dollars. 0.3 0.2 0.4 0.4 0.8 -2.8 -.3 1 . 0 1.3 0.1 0.1 0.4 0.4 0.1 1.1 3.2 2.8 7 . 0 1 . 1 1 . 1 * 1.5 1.5 * 2.1 0.3 2.0 0.2 -2.5 -2.5 * 1.1 1 . 1 6 7 8 -4.5 1.0 11.1 1.4 -5.4 -4.0 -6.4 21 5.9 3.8 3.7 4. 0 - .5 1.5 -13.7 22 68. 7 54.9 23 M a r c h 9, 1 9 9 4 U.S. Net Foreign Assets U.S. R.109 Annual Factors Accounting for Change in U.S. Net Foreign Net Foreign Flows 1 2 3 Assets 53 Assets Annual -7.0 11.3 18.3 4.5 17.0 12.5 -1.5 24.2 25.7 14.8 40.2 25.4 -16.5 24.1 40.6 -3.3 57.2 60.5 27.2 58.0 30.9 25.7 52.4 26.7 -.2 -.2 -.1 -.1 -.2 1.2 -1.2 -7.1 4.5 -1.7 24.0 14.7 -16.8 -2.2 26.0 6 7 8 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 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 - 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 h e l d by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 9 10 11 12 13 14 19.5 25.2 5.7 8.9 19.0 10.1 12.0 21.0 8.9 10.6 26.6 14.0 10.0 21.7 11.6 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 i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 12 13 14 15 16 17 » 1.0 0.9 2.9 5.7 2.8 - 2 4.6 4.8 -.1 2.5 2.6 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 15 16 17 18 19 20 * - 2 -.2 * -.1 -.1 * 1.3 1.3 -.3 0.4 0.8 * 2.5 2.5 o.l 0.2 0.1 0.5 0.5 -.3 -.4 -.1 21 -13.4 -13.0 -18.8 -3.9 81.6 -5.4 7.2 2.0 13.4 + Other 22 -4.6 4.6 1.0 25.4 84.0 5.6 22.9 45.8 38.8 = Change 54.9 56.0 81.4 165.4 171.0 194.0 239.7 25.7 + U.S.net sales & SDKs 4 = U.S.net fgn.Investment, adj. 5 are in Billions of dollars. gold + 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 1.8 h e l d by U . S . r e s i d e n t s 4.1 C h a n g e in v a l u e 2.4 -Net purchases fgn.dir.inv.in in v a l u e i n v e s t m e n t (1) U.S. + R e v a l u a t i o n of U . S . o f f i c i a l f g n . -.2 e x c h a n g e & net IMF p o s i t i o n 7.9 C h a n g e in v a l u e 8.1 - N e t i n c r e a s e in f g n . l i a b . 278.6 revaluations in Memo : Net foreign (1) E x c l u d e s Data of 1 2 3 4 50.3 * U.S. net foreign investment N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 5 23 * 24.0 28.8 4.8 Flows U.S.net assets capital 6 7 8 18 19 20 21 fgn.assets 22 outstanding 23 gains. M a r c h 9, U.S. Net 1994 Foreign U.S. Assets R.109 54 Annual Factors Accounting for Change in U.S. Net Foreign Net Foreign Assets Assets Annual Flows 1981 1982 1983 1984 1985 -24. 6 31 . 3 56 .0 -72. 4 13. 9 86. 2 - 9 6 .3 10 .8 107. 1 1986 1987 1988 - 1 3 1 .9 28. 6 160. 5 -168. 7 16. 7 185. 4 -128. 1 37. 4 165. 5 Flows 1989 -84. 2 99. 2 183. 5 1 2 3 u .S. n e t f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 31. 6 51. 4 19. 8 29. 9 32. 3 2. 4 4 + U.S.net SDRs -1. 7 - 1 .4 -• 1 -1. 0 9 -• 2 -• 5 0 .1 5 4 5 = U.S.net ad j. 29. 9 28.5 -24. 7 -73. 3 -97. 2 -132. 2 - 1 6 9 .2 -127. 9 -84. 8 5 + R e v a l u a t i o n of f o r e i g n e q u i t i e s h e l d by U . S . r e s i d e n t s 6 .Change in v a l u e 7 -Net purchases 8 -2. 7 -2. 5 0 .2 4 1 .0 1 .4 5. 0 8. 7 3. 7 -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 50. 6 59. 6 9. 0 9 10 11 1 2 3 sales of gold 8 fgn.investment, 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 h e l d by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 9 10 11 12 13 14 • R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 7. 1 2 2 .. 1 15., 0 -19. 5 - 6 .6 12. 9 - 2 0 .9 -9. 9 11 . 1 - 2 1 .0 - 6 .4 14. 6 11 .8 21 . 1 9. 2 18. 0 3 0 .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 16 17 - Reval.of Change -Direct 8. 8 3 4 ., 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 -10. 6 47. 6 58. 2 3. 6 6 0 .9 57. 3 -5. 5 62. 3 67. 7 15 16 17 - 1 .5 1 .8 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 5. 0 -4. 6 -9. 7 - 1 .4 2. 7 4. 0 1 .7 26. 5 24. 8 18 19 20 fgn.dir.inv.in U.S. in v a l u e i n v e s t m e n t (1) + R e v a l u a t i o n of U . S . o f f i c i a l f g n . e x c h a n g e 8 net IMF p o s i t i o n 18 C h a n g e in v a l u e 19 - N e t i n c r e a s e in f g n . l i a b . 20 21 * Other 22 = Change Memo: 23 Net f o r e i g n (1) Data Excludes are in 4. 2 6. 5 44. 7 14. 6 9. 1 0 .6 11 . 2 fgn.assets 33. 3 1 .6 - 9 .1 -87. 5 - 8 6 .•« -112. 2 - 8 0 .3 outstanding 3 1 1 ..8 313. 5 304. 4 216. 8 130. 4 18. 2 revaluations in U.S.net assets capital billions 1 .1 gains. of dollars. - 6 2 .. 1 62. 7 - 7 8 .. 1 -140. 3 1 .3 21 -1 03. 1 22 -243. 3 23 M a r c h 9, 1 9 9 6 U.S. Net Foreign Foreign R.109 Annual Factors Accounting for Change in U.S. Net "oreign Assets 55 Annual Flows 1 2 3 1990 1991 1992 1993 -61. 0 58. 9 120. 0 -23. 5 39. 6 63. 0 -78.6 91.8 170.4 -85.0 143.8 228.8 4 -.2 -• 2 2.3 -.6 5 -61. 2 -23. 6 -76.3 -85.6 6 7 8 -17. 2 -9. 8 7. 4 18. 1 48. 8 30. 7 -11.5 19.2 30.6 4.9 70.4 65.5 9 10 11 -22. 9 -38. 8 -16. 0 39. 7 5 0 ., 1 10..4 34.1 28.3 -5.8 12 13 14 35. 5 57. 6 22. 1 3..5 31 ..7 28.. 1 15 16 17 -16. 4 3 1 .,6 4 8 .. 0 18 19 20 5., 7 7,. 7 2.. 0 21 -65 . 1 - 1 4 .0 31.5 -89.6 22 - 6 3 .1 - 5 0 .6 -118.9 -176.7 23 - 3 0 6 .4 -357 . 0 -475.9 -652.5 + U.S.net sales 3 SDRs 4 fgn.investment, adj. 5 U.S.net in billions of gold 1 2 3 = 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 h e l d oy U . S . r e s i d e n t s C h a n g e in v a l u e -Net purchases 6 7 8 20.4 20.4 R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases 9 10 11 -23.8 8.5 32.2 -8.5 28.9 37.5 + R e v a 1. of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t i n v e s t m e n t (1) 12 13 14 - 5 .0 19 . 0 24 . 9 2.7 5. 1 2.4 28.4 28.4 - Revai.of Change -Direct 15 16 17 0. 1 - 5 .8 - 5 .9 -2.1 -3.7 -1.6 2.2 1.6 -.6 of dollars. fgn.dir.inv.in in va 1 j e i n v e s t m e n t (1) U.S. R e v a l u a t i o n of U . S . o f f i c i a l f g n . excnange & net I M F p o s i t i o n C h a n g e in v a l u e - N e t i n c r e a s e in f g n . 1 i ab. • Other revaluations = Change in Memo: Net foreign (1) E x c l u d e s are Flows U.S. net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t * g n . a c q . of U . S . a s s e t s - Data Assets U.S.net assets capital 18 19 20 21 fgn.assets 22 outstanding 23 gains. M a r c h 9, TangiDle 1394 Asset Tangible Holdings R.12 56 Annual Details of Changes in Stocks of Tangible Asset Holdings Assets Annual Flows Flows 1947 946 47.3 22. 0 2.2 4.0 18.8 0 . 2 55.5 30.5 1.5 5.1 18. 1 0.3 70.0 36.2 5.9 6.9 20.7 0.3 61.5 38.1 3.3 4.9 14.9 0.3 85.8 47.8 5. 1 8.6 24.0 0 . 4 90.3 47.5 5.4 6.4 30.6 0.5 83.3 46.8 5.5 5.3 25.3 0.4 89.0 51.7 4.7 5.3 26. 1 0.6 1 2 3 4 5 6 7 Capital consumption Housenolds 8 9 Farm business 10 Nonfarm ncncorp . business 11 N o n f i n a n e ial c o r p . b u s . 12 Financial institutions 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 N e t c a p i t a l f o r m a t i o n 14 Households. 15 Farm business 16 Non c a r m noncorp. b u s i n e s s 17 N o n f i n a n e i al c c o . o u s . 18 Financial institutions 18.8 7 . 4 1 . 0 -1 . 0 11.4 26.9 16.4 37.0 20 . 0 4.0 2.7 10.3 25.4 20. 0 1.2 0.4 3.7 0.1 46.4 27.7 2.7 3.8 12.0 0.1 • 44.7 24.2 2.7 1 . 0 16.7 3. 1 33.6 21.0 2.5 -.4 10.4 0.1 35.7 23.7 1.5 -.1 10.3 0.3 13 14 15 16 17 18 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 Households Farm business Nonfarm noncorp. business M o n f i n a n e ial cor c . o u s . Financial institutions * 1.4 9 . 1 0.1 9.9 3.0 1.3 -2.2 0.7 0.3 -1.7 19 -3.7 2.6 0 . 1 -1.4 -5.7 0.7 -5.9 4.9 -3.9 -2.7 -5.2 1 . 0 2.8 1.2 -1.2 - . 4 2.2 0 . 9 -9 . 4 3.4 -2.7 -3.8 -8.0 1.3 -.9 11.5 -2.7 -1.0 -9.2 0.5 13.2 17.7 -2.5 0.4 -3.9 1.4 8.3 12.6 -1.6 0.1 -4.5 1.7 20 21 22 23 24 25 14.2 14.3 8.6 -.2 8.8 -3.5 -.2 -3.3 4.3 -3.2 7.5 4.5 -1.2 5.7 -10.7 -6.1 -4.6 -10.9 -3.5 -7.5 - - - 26 27 28 29 30 4.8 -.7 0.3 2.3 2.9 -2.9 -2.2 3 2 R e v a l . of p h y s i c a l a s s e t s 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 N o n f i n a n e ial cor o . o u s . 37 - I n v e n t o r y v a l u a t i o n a d j . 3d Financial institutions 58.5 13.8 8.3 11.9 14.2 -5.3 19.3 7.3 -3.4 5.4 7.6 -2.2 0.2 - .3 1.2 -2.6 1.7 1.2 1.9 45.6 15.8 8.7 5.8 10.2 -5.0 0.2 33.1 12.8 3.2 6.6 9.0 -1.2 0.3 4. 1 3.1 -4.1 2.3 3.7 1 . 0 0.1 1.0 -2.1 -1.9 2.2 1.8 -1.0 * 69.6 17.3 20.8 12.3 13.3 -5.9 0.1 * 32 33 34 35 36 37 38 39 R e v a l u a t i o n s b y t y o e of a s s e t 40 Residential structures 41 P l a n t and e q u i p m e n t 42 Inventories 43 Consumer iurabies 58.5 20.4 19.4 13.3 5 . 4 69.6 22.9 20. 0 24. 2 2.5 19.3 10.3 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 1 . 0 0.7 2.0 -.5 -1.3 39 40 41 42 43 4 4 C h a n g e in l a n d v a l u e s 45 Ho u s a n c e s 46 Farm business 47 N o n f ar-n ^ o n e or p. b u s i n e s s 48 Nonfinancial coro. o - s m e s s 49 Private finan. insts. 19.3 3.6 5.1 2.4 8.0 0.2 19.0 6 . 9 1.3 3.2 7.4 a . 2 10.1 6 . 7 0.8 2.0 0 . 7 - . 1 7.9 7 . 6 -1.8 1 . 2 0.7 0.2 24.6 6.0 11.9 2.2 4.4 0.1 23.5 9.0 7.9 2.3 4.2 0.1 16.0 12.0 0.5 2.2 1.3 11.7 9.5 -1.4 1.7 1.9 44 45 46 47 48 49 19 N e t f o r e i g n i n v e s t m e n t ( 1 ) Net financial investment: 20 Private sectors 21 Households 22 Farm business 23 Nonfarm noncor?. business 24 Nonfinancial corp. bus. 25 P r i v a t e fir an . i n s t s . 26 27 28 29 30 Public sectors State i local governments U.S. government Govt.-spons. anterprises Monetary authority 31 Unallocated c i n a n e ial flows 50 51 52 53 54 A d j . to c a p i t a l c o n s u m p t i o n Houser olds Farm business Nonfarm noncorp. business N o n f i n a n e ia 1 c o r p . cusir.ess 55 56 57 58 59 60 61 Memo: Total gross domestic investment f l o w of f u n d s b a s i s Private sectors Housenolds Farm business Nonfarm noncorp. business Nonfinaneial corp.ousiness Private f inan.institutions 62 63 64 65 66 Public sectors State & local governments U.S. government Govt.-soons. enterprises Monetary authority (1) Lines Data are 20 in » 26 * billions 31. of dollars. 4.9 -1.0 9.7 -.9 1 . 0 -11.8 1 . 0 1 . 1 0.2 0 . 9 " * 2. 1 " ~ . " » 1 .2 0 . 2 0.9 » * -2. 1 52.2 46.2 31 . 7 1 .3 5.0 6.9 1.2 0 . 9 65. 3 51 .8 33. 1 1.6 3.7 12.4 1 . 0 14.3 -.1 14.3 0.1 " " " " 72.7 64.1 41 . 1 1.9 4.2 15.6 1.3 60.8 64.3 39 . 2 2.2 4.5 17 . 2 1.2 80.8 76.4 51.1 2.4 4.7 16 . 0 2.1 93.9 89.4 59. 0 2.8 5.4 21 . 3 0.9 -3.4 -.2 -3.3 4.3 -3.2 7.5 0.1 4.5 -1.2 5.7 0.1 8.6 - . 2 8.8 " . " 31 50 51 52 53 54 85.8 96.5 64.5 3.0 5.7 21.4 1.8 86.3 97.2 64.2 3.1 5.9 21.6 2.3 55 56 57 58 59 60 61 -10.6 -6.1 -4.6 0.1 -10.9 -3.5 -7.5 62 63 64 65 66 M a r c h 9, 1 9 9 4 Tangible Asset Tangible Holdings R . 12 D e t a i l s Annual 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 Holdings 57 Assets Annual Flows Flows 1954 1955 1956 1957 1958 1959 1960 1961 1962 107.3 63.4 3.2 7.8 32.6 0.9 110.3 62.4 2.6 7.4 37 . 0 0.9 110.3 62.1 3.8 7.7 35.7 0 . 9 101.6 58.8 6.0 7.9 28.0 0 . 9 121.6 71.8 3.0 7.9 37.3 1.1 122. 1 71 . 0 4.7 7.6 37.7 1 . 0 119.8 69.2 5.0 8.1 36.5 1.0 134.9 76.9 4.9 9.5 42.2 1.3 P u r c h a s e s of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business Nonfinaneial corp. bus. Financial institutions 1 2 3 4 5 6 1 2 3 4 5 6 85.9 52.0 3.9 6.3 23. 0 0.7 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 17.3 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 25.3 0.7 87.7 47.9 4.0 8.4 26.3 0.7 Capital consumption Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s . Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 28.3 21 . 1 0 . 6 0.1 6.3 0.3 47.2 30.9 -.2 1.3 14.8 0.4 42.9 26.1 -1 . 0 0.4 17.0 0.4 37.4 23.0 25.4 17.6 2.2 0.3 5.0 0.3 41.9 28.6 -.9 0.1 13.7 0.4 39.6 26.2 0.8 -.4 12.6 0.4 34.7 22.7 1 . 0 -.1 10.7 0.3 47.2 29.0 1 . 0 1 . 1 15.5 0.6 Net capital formation Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 13 14 15 16 17 18 19 -.3 0.4 -1.9 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 Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s . Private finan. insts. 20 21 22 23 24 25 Public sectors State 8 local g o v e r n m e n t s U.S. government Govt. -spons. enterprises Monetary authority 26 27 23 29 30 Unallocated 31 " 0.3 13.7 0 . 4 -1.3 4.6 20 21 22 23 24 25 7.9 6.5 - .6 -.1 - .8 3.0 -1.3 5.1 0 . 2 -1.3 -6 . 9 1.6 2.5 12.8 1 . 0 - . 4 -12.3 1 .5 7.8 15.6 -.1 - . 3 -8.3 0.9 26 27 28 29 30 -9 . 3 -3.8 -5.2 0 . 9 -3.3 4.2 1.3 -3.1 4. 4 -2.7 -4.8 2.1 * - - 31 0.8 0.5 32 33 34 35 36 37 38 1.9 -.3 -2. 0 2.4 1.5 -.3 20.9 3.0 -.6 6.1 13.5 -1 .8 0.2 -5.1 36 . 1 8.4 2.4 6 . 2 16.0 -2.7 0.4 9.0 -3.9 1.4 3.3 6.6 -1.5 0. 1 1.9 4.2 2.0 -1.5 -2.9 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 44 45 46 47 <*8 49 11.9 7 . 3 3.2 0.9 0.1 0.3 20. 7 9 . 6 4.6 2. 0 4.7 -. 1 27.4 10.9 6 . 9 2.3 7.1 0 . 2 23.9 12.1 6.5 1.4 3.9 0.1 50 51 52 53 54 * - 55 56 57 58 59 60 61 84.8 93.8 58.5 3.3 6.1 22.2 3.6 62 63 64 65 66 -9.0 -3.8 -5.2 " 107.4 106.5 68.6 3.4 6.4 25.7 2.4 0 . 9 -3.3 4.2 10.6 15.7 -1.0 -1 . 1 -5.9 2.9 -7.1 -4.3 -2.8 -2.0 -3.5 1.5 -9.4 -3.8 -5.6 -7.8 -2.9 -4.9 -.9 1 .9 -1.2 -.9 -.5 5.2 -2.6 -.6 4.0 4.0 3 0.1 -1.9 -4.7 0.9 3.1 -1.5 -.2 0.1 -1.0 -3.8 0.3 3.0 -.4 0 . 3 0.2 0.3 -6.9 1.1 4.8 1 . 0 5.2 2.1 4.3 -.5 -. 6 -1.9 1.8 -2.0 0.8 -2.6 -1.0 1.4 13.9 9 . 4 1.0 1.4 2.0 0.1 6 . 1 1 .6 0.6 2.4 1.2 -.3 0.1 6.1 0.9 2.5 0.6 2.1 22.4 10.6 8.8 1 . 2.0 " * » " " " 1.4 -3.1 4.4 2.8 13.1 15.6 -1.1 0.1 -4.6 3.2 -15.8 -5.4 -10.5 * 114.1 112.8 75.2 3.6 7.0 24. 7 2.3 2.3 1.8 4.9 12.3 -.9 0.4 -10.2 3.2 - . 6 39 40 41 42 43 , 3.3 7.5 0.9 -.1 -6 . 1 1.3 17.1 19.4 -2.2 -.3 -1.6 1.9 0 17.1 9 . 0 6.4 1 . 1 0.5 0.1 . " . " are In b i l l i o n s of dollars. flows R e v a l . of P h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s . - Inventory valuation adj. Financial institutions 32 33 34 35 36 37 38 -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 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 24.0 12.3 5.4 2.6 3.6 0.2 21 . 1 11.1 4.9 2.0 2.9 0.1 C h a n g e in land v a l u e s Housencids Farm business Nonfarm noncorp . business N o n f i n a n e ial c o r p . b u s i n e s s Private finan. 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 Households Farm business Nonfarm noncorp. business NonfInancial corp. business 50 51 52 53 54 * " 115.4 118.0 77 . 7 3.7 7.5 27.4 1.7 102.9 1 18.7 78.2 3.8 7.6 26.4 2.7 117.8 124.8 79.3 3.9 7.8 31 .6 2.3 125.0 126.9 83.3 3.9 8.0 27.5 4.2 123.6 132.9 84.8 3.9 3.2 31 .9 4.1 -2.6 -4.8 2.1 0.1 -15.3 -5.4 -10.5 0.1 -7.1 -4.3 -2.8 0.1 -1.9 -3.5 1.5 0.1 -9.3 -3.8 -5.6 0.1 0.3 . M e m o : T<o t a l 137.6 145.4 92.6 4.0 8.4 36.3 4.1 gross domestic investment, f l o w of f u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business N o n f I n a n e ial c o r p . b u s i n e s s Private finan.institutions 55 56 57 58 59 60 61 -7.8 -2.9 -4.9 0.1 Public sectors State 8 local governments U.S. government Govt. -spons. enterprises Monetary authority 62 63 64 65 66 (1) L i n e s Data financial 19 2 0 + 2 6 + 31. M a r c h 9, Tang ioie 1394 A::et Sidings H o 1 j V gs * . 12 D e t a ils 58 Annual 0? : Cha-gei. o £ ' = " 3 ;o le Aacets Annu a 1 "lows -lews 1971 1 2 3 4 5 6 P u r c h a s e s of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r o . b u s . Financial institutions 145. 2 84.4 5.3 10.0 44.4 1 . 1 158. 91 . 3. 11 . 49 . 1 . 100.6 54.4 4.3 9.6 31.3 1 . 0 7 Capital consumption Households 8 9 F a r m business" 10 . N o n f a r m n o n c o r p . b u s i n e s s 11 N o n f i n a n e ial c o r o . b u s . 12 Financial institutions 91.2 49.8 4.0 13 N e t c a p i t a l f o r m a t i o n 14 Households 15 Farm business 16 Nonfarm noncoro. business 17 N o n f i n a r c i a l -or? . bus. 18 Financial institutions 54.0 34.6 1.3 1.3 16.4 0.3 63.0 39.6 .3 2.4 2 0.5 0.9 4. 1 5. 9 19 N e t f o r e i g n i n v e s t m e n t ( 1 ) Net financial investment: 20 Private sectors 21 Households 22 Farm business 23 N o n ^ a r m non e oro. b u s i n e s s 24 Nonfinaneial corp. bus. 25 Private finan. insts. 26 27 23 29 30 31 Public sectors State & local governments U.S. government Govt.-spons. enterprises Monetary authority Unallocated £ inane ial £ 131 - 4 98.8 6 . 4 13.3 60.8 2. 0 8.6 2 7 .9 0.8 30.3 44 . 4 107 . 57. 4. 91.4 44.3 2.1 3.7 29.5 1 . 1 4.2 40 . 4 0 . 9 5. 0 3. 7 220 . 9 117.4 7.3 17.1 75.5 3. 1 241 . 4 124. 9 6.8 21.0 35 . 4 3.3 235.7 123.0 6.6 21 . 1 81 . 7 3.3 272.8 147.3 9 . 4 24.9 8 7 .5 4. 0 5 6 116.8 62.2 4.9 11.1 37.3 1.3 123. 3 68. 1 5.2 12.0 141.5 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 3 9 1 0 1 1 12 81 . 1 40 . 0 0.5 6.8 32.3 1 .5 103.4 56 . 1 3.0 9 . 2 33.2 1 . 9 13 14 15 16 17 18 1.5 31 .8 42. 1 2.6 2.3 33.9 0.9 92.9 49 . 3 2.5 5.1 34 4 1 . 6 2.4 1 . 1 99.9 48.9 1 . 1 7 . 3 60. 4 1.7 -1.1 3.0 13. 0 21 .. 9 0 .3 . -2. - 3 .. 7 1 .8 , 7 .2 2 4 .. 0 -2. 0 -3. -13. 2 2.. 0 14. 3 33. -1 .0 - 4 .2 - 2 0 .3 2.. 1 24.5 42.5 -2.6 -2.3 -15. 2.3 9 . 6 33.4 -2.5 -5 . i -13.5 2.4 -4 . 2 33.6 -1.0 -7.3 -25. 3 -3.9 16.6 52.1 - .5 -e.3 -25. 3 -2.9 17.0 18.3 -3. 3 -9 . 2 -19.6 0 . 4 -3 . 9 -2.. 7 -1 . 3 -6..5 -3,. 0 - 3 .5 - 3 .. 0 - 2 ,.5 .5 - 5 .. 7 -13.7 -5. 0 -13.3 -13.1 -4.5 -3.6 -2.3 -7.6 5. 7 -22 . 3 -9 . 0 -13.2 - . 1 -32.4 -9.3 -23.5 0 . 1 26 27 28 29 30 . 6 -3.4 -5.0 -10.8 0.1 4 . 9 31 95.9 36 . 9 7 . 6 IS. 1 26 . 1 -5. 9 i . 3 79.9 26.5 2.2 116.3 41.7 3. 1 25.8 34. 3 -4.6 2.4 32 33 34 35 36 37 38 116.3 58.6 52. 2 13.1 -4. 1 39 60 61 42 63 12.5 48.5 19.7 3.0 - . 7 98.5 53.2 35.0 6.2 4. 1 95.9 44 . 4 36 . 6 11.5 3.3 79 . 9 22.2 0.5 -4.2 36 . 4 14.9 17.6 0 . 4 3.5 19.3 4.6 7.3 1.3 4.6 0.5 30. 1 11.3 7 . 6 3.9 6 . 4 0.4 35. 0 55.3 29.5 5. ; 9 . 6 10.0 G . 6 46 . 9 14.9 2.3 8. 1 16.3 5.7 42.7 14.6 4.3 7.7 14.7 1 .5 0. 1 0 . 4 27.3 14.3 7.5 2.3 3.1 3.6 33.5 63.9 4.9 19.5 25.0 -3.7 1.5 5.3 -.5 0.3 4 4 C h a n g e in l a n d v a l u e s 45 Households 46 Farm business 47 Nonfa-m noncorp. business 48 N o n f i n a n c i a l corp.' b u s i n e s s 49 Private finan. insts. 5 . 3 36 . 4 10.7 0 . 9 9 . 9 12.5 -1.6 0.3 8.2 2. 1 4 . 6 48.5 15.9 1 . 9 12.3 15.0 -2. 1 0.3 12.5 -2.2 0 - 7 3.4 -5.0 -6.3 3.1 -.4 -1.4 14.4 -7.5 4.7 8. 1 26 . 6 10.0 6.2 8.9 6.3 0.2 " 23. 7 -6.6 1.5 4.6 9 . 1 » 5 0 A d j . to c a p i t a l c o n s u m p t i o n 51 Households 52 Farm bus iress 53 Nonfarm noncoro. business 54 Nonfinancial corp. business M e m o : T o t a l g r o s s d o m e s t i c inva f l o w of f u n d s b a s i s Private sectors Households 'Farm B u s i n e s s Nonfarm noncorp. business N o n f i n a n c i a l :aro'. b u s i n e s s 60 Private finan. institut i 0n s 61 62 63 64 65 66 (1) Data Public sectors State a local governments U.S. government Govt. -spons . enterprises Monetary authority Lines are 2 0 + 2 6 + in billions 31. of dollars. 19 5. 6 14. 8 -1 . 4 -1 . 3 - 7 .. 1 0..6 39 R e v a l u a t i o n s by t y p e of a s s e t 40 Residential structures 41 Plant and e q u i p m e n t 42 Inventories 43 Consumer durables 55 56 57 58 59 -10.5 20 21 22 23 24 25 lows 3 2 R e v a l . of p h y s i c a l a s s e t s 33 households 34 Farm business 35 Nonfarm n0nc0ro . business 36 N o n f i n a n e ial c-jro. b u s . 37 - I n v e n t o r y v a l u a t i o n a d j . 38 Financial Institutions 1 2 3 198.6 1:4.3 7.5 13.4 71.2 2.2 56 . 0 16.6 11.6 9 . 3 16.5 1 . 6 . * * 146.3 15 0 . 7 99.2 3.9 8.6 37 .3 1 . 7 -3.9 -2.7 -1.3 0 . 1 165. i 171.5 113.6 4.1 9 . 1 41 . 2 3.5 -6.4 -3.0 -3.5 0.1 185.6 138.5 122.8 4.4 9 . 6 47.7 4. 0 -2.9 -2.5 -.5 0 . 1 213.5 140.3 4.7 10.3 54.2 4. 0 -5.6 -4.1 -1.6 0 . 1 * 204.4 222. 9 146.3 4.9 11.1 55. 7 4.3 217.4 2 3 1 .6 150.3 5.3 12.0 53.4 5.2 -13.6 -5.0 -13.3 C . 2 -14.1 -4.5 -9.9 0.3 " * 235.3 237.0 153.5 5.3 13.2 60. 4 - .3 -1.7 -7 . 6 5.7 0 . 2 44 65 46 47 68 49 50 51 52 53 54 230. 3 252 . 3 175. 1 6 . 1 14.3 56 . 7 0 . 1 257 . 4 290.2 195.3 6.5 15.7 68.6 6.1 55 56 57 58 59 60 61 22.3 -9.0 -13.5 0 . 2 -32.5 -9.3 -24.2 0.3 62 63 64 65 66 M a r c h 9, 1994 Tangible Asset Tangible Holdings R.12 Annual Details of Changes in Stocks of Tangible Assets Asset Holdings 59 Annual Flows Flows 1975 3 1 6 .,4 1 7 3 ..0 8. 8 30. 8 99. 5 4.,4 367. 2 191. 9 12. 2 35. 2 1 2 2 .. 1 5.,8 368. 8 184. 3 10., 0 30. 3 137. 2 7..0 3 6 0 ,.4 1 9 6 .. 1 16,.8 23..8 1 1 6 ,.2 7,.5 4 4 6 .4 2 4 1 .,7 14. 3 27. 3 1 5 5 .. 1 8. 2 540 290 22 35 183 9 .9 . 1 .5 .8 . 0 .5 636. 3 3 3 1 .,4 21 .. 0 47. 5 2 2 1 ., 1 15. 3 694. 5 3 4 8 ., 0 24. 7 60. 3 240. 9 20, 5 680. 1 329. 0 13. 7 63. 4 250. 8 23. 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 Households Farm business Nonfarm noncorp. business N o n f i n a n c l a l corp. bus. Financial institutions 7 8 9 10 11 12 186. 3 98.. 7 7. 2 17..4 60..5 2..5 2 0 3 ,.8 1 0 8 .. 1 7,.9 19,.3 6 5 ,.6 2,. 9 2 3 4 .. 1 1 2 2 .. 1 9,. 1 22..2 76..8 3,.8 272.2 1 3 8 .7 10 .7 2 5 .6 9 2 .2 4 .9 3 0 1 ..4 1 5 3 ..3 11.8 2 7 ,.8 1 0 2 ,.5 5..9 336 170 13 30 114 6 .4 .6 .2 .9 .8 .9 380. 2 1 9 1 ., 1 14..9 35,, 4 131 ., 1 7.,7 436. 2 2 1 6 ..8 17,.3 41 ..8 151 ..6 9.. 1 498. 246. 19. 48. 173. 10. 1 1 5 7 2 6 Capital consumption Households Farm business Nonfarm noncorp. business N o n f i n a n e i a l c o r p . -bus;. Financial institutions 13 14 15 16 17 18 1 3 0 ,. 1 74,.2 1..5 13,.4 39,, 0 1..9 1 6 3 ..4 8 3 ,.8 4,.3 15..9 5 6 ..4 3 . 0 1 3 4 ,.7 6 2 ,. 1 0.,9 8,. 0 60..4 3..2 .2 .4 . 1 .8 . 0 .6 145..0 8 8 ,.4 2..5 .6 5 2 ,.6 2,.2 204 119 9 4 68 2 .5 .5 .3 .9 . 2 .7 2 5 6 .. 1 140. 3 6..1 12., 1 90., 0 7,.6 2 5 8 ..2 131 ,.2 7..7 18..6 89 , .3 11 ,.4 181 . 9 82. 9 -5. 8 14. 7 77. 6 12. 6 Net capital formation Households Farm business ' Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s . Financial institutions 19 - 7 ..0 24 . 0 14,.8 - 3 ..3 27. 2 25. 7 20 21 22 23 24 25 9..9 47,.5 - 1 ..4 - 1 3 ,.4 . - 2 2 ..7 .2 . 0 .6 . 0 .9 . 1 .3 31..3 65.. 0 -5. 2 - 1 2 .. 1 - 3 0 .. 1 13..6 67.. 1 8 8 ..2 - 6 ,.8 - 1 8 ,.6 - 1 0 ,.4 14..7 78. 134. 6. -14. -53. 6. 26 27 28 29 30 - 1 7 ,,6 1,.2 - 1 8 ..9 0,. 1 -44 . 0 11 .3 - 5 5 .6 0 .3 -33. 3 5,.0 - 3 8 ..6 0 . 2 - 1 6 .. 7 5.. 6 2 2 .6 0, 2 -63. 4 - 1 .9 -61. 5 1 2 3 4 5 6 0..7 31 - 1 .5 4,.5 88 57 6 -1 24 2 .4 74,.0 - 3 ,.7 - 1 5 ,. 9 - 5 7 ,.5 2,.7 .2 5 9 ,.3 .7 - 8 ,. 0 - 4 8 ,.2 - 2 ..6 91 92 -5 1 7 -4 -1 . , 1 4,.5 - 5 .. 7 0.. 1 - 1 2 .. 6 - 3 ..2 - 9 .6 0,.3 -79 -5 -74 0 6.. 0 11 ,.3 .3 .2 .6 .8 .4 .6 64..4 8 2 ..3 - 2 ..0 0..6 - 1 8 ..7 2 .3 .7 . 0 . 9 .2 - 6 1 ..1 -2 . 0 - 5 9 ..4 0..3 1 2 .4 11 , .4 - 1 6 .5 34 77 -9 -4 -37 7 . - 6 .5 -1 . 4 , - 2 3 ..2 13 14 15 16 17 18 N e t f o r e i g n i n v e s t m e n t (1) Net financial investment: Pr i v a t e s e c t o r s Households Farm business " Nonfarm noncorp. business N o n f i n a n c l a l corp. bus. P r i v a t e f in an . * insts". 9 3 3 7 0 0 20 21 22 23 24 25 Public sectors State & local governments U.S. government Govt.-spons. enterprises Monetary authority 10. 2 Unallocated financial 26 27 28 29 30 flows 371 171 11 68 99 -16 4 .8 .3 .6 . 4 .7 . 7 . 1 5 0 6 ..4 2 1 9 ,.8 32..4 87 . .5 1 3 6 ,.4 - 2 5 .. 1 5..2 6 1 8 ..6 670. 7 2 3 6 .•o. 2 2 6 .3 35. 6 23..4 121 . .5 " , 124. 9 189. 3 2 3 1 .8 .6 -41 . -43. 0 6.. 9 9. 1 R e v a l . of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business N o n f i n a n e i a l c o r p . bus.' - I n v e n t o r y ' v a l u a t i o n adj. Financial institutions 2 4 8 ..8 1 0 4 .. 9 8 7 ,.8 5 0 ,.8 5,.2 3 9 5 ,• 1 117 . 0 1 7 7 ,.6 5 5 ,.8 4 4 .6 275 103 137 10 24 .3 . 4 .3 5, .2 261 , .2 1 2 6 .0 . 0 101 , 1 8 .6 15,.6 371 197 131 21 21 .8 . 1 .9 .6 .3 506 . , 4 ' 2 4 2 ,.9 1 7 4 ,. 9 5 5 ,.8 32, 8 6 1 8 ..6 2 5 8 .3 2 1 6 .9 8 4 ,.5 58..9 670. 7 241. 7 274. 2 91 . 1 63. 7 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures P l a n t and a q u i p m e n t ' Inventories Consumer durables ' 39 40 41 42 43 1 5 6 ,. 4 4 9 ,. 0 53 . 7 . 0 21 , 29 . 8 2 .9 1 4 8 .9 5 7 .3 31 , .4 20..3 3 5 .9 4 . 0 175 83 44 14 29 4 .5 . 0 .4. .5 .4 .2 2 1 9 .6 94,.2 71 , .7 21 . .2 29..5 3 . 1 223 113 45 23 36 3 . 1 .8 . 6 .8 .6 .4 327 , ,4 152.. 9 8 5 .,5 37,, 9 46,,6 4, 4 4 2 3 ..4 2 1 0 ..2 97 , . 0 5 2 ,, 9 5 7 ,.9 5..3 426. 8 215. 0 68. 1 , 72. 1 61. 9 9. 6 C h a n g e in l a n d v a l u e s HousehoIds Farm business Nonfarm noncorp. business Nonfinaneial corp. business Private f inan. insts."' 44 45 46 47 48 49 4 A d j . to c a p i t a l ' c o n s u m p t i o n Households Farm b u s i n e s s ' Won farm noncorp. business Nonfinaneial corp. business 50 51 52 "53 54 1 8 6 ,. 0 103..7 66.. 4 19,.3 3 .4 44 45 46 47 48 49 9 9 .4 40..5 22.. 0 15. 6 19, 3 1.,9 . * 50 51 ,52 53 54 55 56 57 58 59 60 61 3 0 8 . 7-• 3 6 5 .. 7 3 6 9 ,.6 3 2 6 .9 2 6 5 ,.8 220 5 . 8..5 7 .4 17 .4* 19,.3 6 7 ..8 7 7 .7 8..2 3 .9 62 63 64 65 66 - 1 8 .2 1 .2 - 1 9 .8 0 .3 - 4 .. 0 4. 5 - 8 ..8 0. 3 « 3 5 6 ,. 0 3 7 4 ,.7 2 4 3 ,.6 9, 3 22. 2 9 5 ,.5 4,. 1 3 7 2 ,. 0 4 5 2 ,.4 288, 3 11 ..3 25..6 1 2 4 ,,9 2..3 - 1 8 ..7 - 3 ,.2- 1 6 ,.1 0,. (y 0,.1 - 8 0 ,.4 - 5 ,. 0 -76. 2 0.,7 0..1 « . 4 4 9 .7 5 1 4 ,.2 3 2 3 ,. 9 12..2 27..8. 1 4 0 ,.3 9,.9 530. 9 5 7 6 ..3 3 6 7 ..7 13.,5 30. 9 1 4 8 .,4 15..8 - 6 4 ,.5 - 2 ,. 0 - 6 3 ,.4 0,. 8 0,. 1 - 4 5 .,4 11. 3 - 5 8 .. 1 1..3 0.. 1 . 3 * 6 3 4 .,3 6 6 8 ..7. ' 396. 15. 8 35. 4 1 9 3 ,.0 2 8 .. 0 - 3 4 .,4 5.. 0 -40. 5 1 .1 . 0.. 1 - 4 / 744. 8 . 7 6 5 .2 4 3 6 .,2 17,.9,41 ,.8 235, 3 34..1 - 2 0 ,.4 5. 6 -27. 3 1 .2 0..1 Memo: Total 6 95.5 762.6 46 3 . 2 20.0 , 48.7 202.8 , 27.9 ; of dollars. 32 33 34 35 36 37 38 : gross domestic investment, f l o w of f u n d s b a s i s '' ^5 Pr i v a t e s e c t o r s Households !' Farm business ' 38 Nonfarm noncorp. business 59 , N p n f i n a n e i a l c o r p . b u s iness, 6 0 Priva'te f i n a n . i n s t i t u t i o n s Public sectors . ' S t a t e 8 i'oca 1 g o v e r n m e n t s U . S . govYr'hmVn't ' Govt.-spons. enterprises Monetary authority -67.1 -1.9 -66.5 1.3 0.1 CI) 12 261 . .2 1 1 0 ,. 1 7 .4 45 . 0 76,.8 - 1 4 ,.9 7 . 0 39 40 41 42 43 billions 11 .3 .9 .2 .8 .2 . 0 . 1 2 4 8 .8 8 7 ,.4 2 9 ,. 0 4 0 ,.3 67,.2 - 2 0 ,.1 . 4,.8 in 9 10 275 103 7 40 106 -11 6 186,. 0 74..8 17,.6 3 7 .6 46,.4 - 6 .6 3.. 0 are 7 8 395 . 1 1 3 9 ..5 14.. 1 5 0 .3 143..8 , - 3 9 .5 7.. 9 32 33 34 35 36 37 38 Data 1 2 3 4 5 6 Lines 20 62 1 63 64 65 66 M a r c h 9, 1 9 9 4 Tangible Asset Holdings , , , Tangible R.12 Details Annual of C h a n g e s in S t o c k s of T a n g i b l e Assets Flows Annual Flows 1981 1982 1983 786 5 350 9 27 1 73 0 308 1 27. 4 739. 9 344 4 19 6 69 5 277 6 28 8 7 Capital consumption Households 8 Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Financial institutions 12 563 6 267 3 21 6 56 7 205 3 12. 6 13 N e t c a p i t a l f o r m a t i o n Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Financial institutions 18 222 83 5 16 102 14 9 6 5 3 8 7 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 Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinaneial corp. bus. 5 Financial institutions 6 19 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 Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s . Private finan. lnsts. 20 21 22 23 24 25 26 27 28 29 30 Public sectors State 8 local governments U.S. government Govt.-spons. enterprises Monetary authority 31 Unallocated financial flows 31 6 71 164 5 -16 -43 -27 4 2 3 3 4 9 -86 0 -10 2 -76, 0 0.. 1 46. 2 1984 1985 1986 1987 1988 1989 821. 7 428, 5 -1. 9 70. 4 292. 3 32. 4 1036. 8 497, 2 19. 5 88. 2 390.,6 41..3 1067,.5 5 3 7 ,.2 17,.7 96,.8 370,.5 45,.3 1107..2 603. 8 9. 3 97. 8 344. 7 51. 6 1 1 5 3 .,0 630. 4 6. 7 98. 3 3 6 2 .,1 55. 6 1230..7 675. 2 1. 9 101 .8 391. 1 60. 7 1291. 6 700. 3 15,.8 105. 7 401, 4 68.4 1 2 3 4 5 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. 4 313. 5 23, 4 68.,4 2 4 6 ..1 18.,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. 5 423. 5 21 .8 87. 2 295. 1 30. 9 930. 7 463. 4 21. 9 94. 7 314. 8 35. 9 7 8 9 10 11 12 126 7 59 5 -3 3 6. 4 50. 1 14 2 178. 8 130. 2 -25. 2 5. 1 52. 2 16, 5 367. 4 183. 8 -3. 8 19. 8 144. 5 23..2 355..9 197,.4 -5,.3 24,.2 114,.5 25 . 1 350. 4 239. 3 -13. 4 20. 8 75. 5 28, 3 350. 0 2 3 7 .,1 -15. 5 16. 8 82. 9 28. 7 372. 2 251. 7 -19. 8 14. 6 96. 0 29. 7 360. 9 237. 0 -6. 1 11 .0 86. 6 32. 5 13 14 15 16 17 18 29. 9 - 1 3 1 ..9 -168. 7 - 1 2 8 .,1 -84. 2 19 90. 9 125. 7 16. 4 -16. 8 - 3 9 ..7 5..4 51. 7 108. 3 21. 2 -14.6 - 4 2 ..8 -20, 3 177. 2 210. 8 8. 0 -11. 0 -42. 8 12. 2 20 21 22 23 24 25 -24. 6 - 7 2 .,4 -96, 3 7 2 8 4 8 1 163. 4 184. 0 25. 8 -5. 1 -31. 1 -10. 1 102. 2 179. 0 4. 5 -19. 8 -47. 9 -13. 7 118,.6 192,.0 6..1 - 2 4 ,,2 - 4 3 ,.4 - 1 2 ,.0 -154 2 -1 7 -153.4 0. 9 -177. 4 13..1 - 1 9 1 .3 0..8 - 1 8 6 .,6 4 3 - 1 9 1 ..5 0. 5 - 2 0 4 ,.3 14,.2 - 2 1 6 ,.8 - 1 ..7 - 2 3 2 ,7 11. 2 -243. 3 7 -173. 5 -3. 7 -169. 8 0. 1 - 1 9 7 ..0 -7. 2 -190. 4 0..7 -217. 1 -31. 1 -186. 6 0. 6 26 27 28 29 30 18. 4 -10. 7 12. 2 - 1 0 ,.5 - 6 7 ..8 - 8 6 ..1 17,.2 -44. 4 31 242,. 0 126 .7 4, 3 64,.9 47 .8 9,.8 8,.1 349,.6 162,.6 14,.8 82..7 68..4 -14, 5 6..6 2 2 9 .1 .4 20,.4 4 7 .6 121 .4 - 2 7 .3 12..8 354.,4 125. 4 10. 5 81. 6 105. 0 -17. 5 14. 3 32 33 34 35 36 37 38 3 4 9 .6 192,.8 91,. 1 36,.5 29 .1 2 2 9 .1 - 3 3 .3 169..1 5 7 .0 36 .3 354.,4 162.,4 155. 2 2 4 .5 12. 3 39 40 41 42 43 295..6 1 5 5 .9 4 2 .5 4 3 .6 3 8 .3 15..4 364 195 23 71 60 13 .6 .5 .6 .5 .6 .4 417..7 240. 8 19. 9 76. 6 64. 0 16. 3 44 45 46 47 48 49 165 197 3 -6 -18 -10 168. 6 2 2 3 .,8 14., 0 -20. 8 43..7 - 4 ..7 3 2 R e v a l . of p h y s i c a l a s s e t s Households 33 Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - I n v e n t o r y v a l u a t i o n a d j . Financial institutions 38 496. 8 145.1 6. 5 109..2 201. 3 2 5 .7 9 .0 225. 4 80. 2 8. 0 45..7 75..9 - 1 0 .. 0 5..7 134..5 51 .,5 23. 9 36..1 12..7 - 8 ..5 1..7 149, 3 52,.1 -1, 3 50,.3 41,.7 -4..1 2 .4 1 6 3 .0 69 .7 -4 . 0 6 4 .2 30 .5 0 .3 2 .8 39 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures 40 P l a n t and e q u i p m e n t 41 I n v e n t o r ies 42 Consumer durables 43 496 166 259 26 44 .8 .7 .0 .5 .5 225. 4 77 6 125,.7 3 .0 2 5 .1 134..5 67,.2 41 . .8 16,. 1 9 .5 149 80 62 0 5 .3 .8 .5 .1 .9 163 101 67 -19 13 .0 .0 .3 .1 .8 242 146 95 -25 25 4 4 C h a n g e In l a n d v a l u e s Households 45 Farm business 46 Nonfarm noncorp. business 47 Nonfinancial corp. business 48 Private finan. insts. 49 2 7 8 .8 1 6 4 .8 - 8 .4 51 .3 6 3 .2 7.8 2 0 6 .9 122, 3 -36 2 63 4 49 .3 8 .0 256, 4 1 3 2 .5 8 .4 67 .7 3 8 .9 8 .8 292 251 -96 91 42 4 .4 .4 .9 .3 .5 .0 253 176 -80 108 38 10 .3 .0 .7 .5 .9 .6 203,.3 131 .2 - 4 6 ..7 7 2 .8 3 3 .6 12 .3 5 0 A d j . to c a p i t a l c o n s u m p t i o n Households 51 Farm business 52 Nonfarm noncorp. business 53 NonfInancial corp. business 54 - 2 .8 .7 - 7 .0 - 3 .2 - 2 .8 .7 - 7 .0 - 3 .2 55 56 57 58 59 60 61 Memo: Total gross domestic Investment f l o w of f u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business NonfInancial corp.business Private finan.institutions 62 65 64 65 66 Public sectors State & local governments U.S. government Govt.-spons. enterprises Monetary authority (1) Lines Date are 20 . . , Asset Holdings • 2* • 31. In b i l l i o n s of dollars. 771 861 515 21 56 269 -1 .9 .3 .1 .8 .7 .6 .1 - 8 9 .4 - 1 0 .2 - 8 0 .8 1 .4 0 .1 751 911 541 23 63 266 17 .4 .8 .6 .4 .1 .6 .1 - 1 6 0 .5 - 1 .7 - 1 6 1 .2 2 .3 0 .1 807 990 612 23 65 269 20 .7 .7 .5 .9 .2 .0 .1 - 1 8 3 .0 13 .1 -199 2 .9 0 .1 952 1143 676 24 68 350 24 .3 .5 .2 .0 .4 .6 .1 - 1 9 1 .2 4 .3 - 1 9 1 .4 3 .9 0 .1 981 1186 729 23 72 331 29 . .8 .9 .2 .9 .7 .4 .7 - 2 0 5 .1 1 4 .2 - 2 2 1 .2 1 .7 0 .1 . 0 .6 .6 .2 .0 « 1043 1278 827 23 77 308 42 .1 .9 5 .3 .1 .1 .8 - 2 3 5 .8 11 .2 - 2 5 0 .5 3 .3 0 .2 " 1070 1242 756 23 81 325 St .4 .8 .1 . 1 .5 .3 .9 - 1 7 2 .4 - 3 .7 - 1 7 2 .8 3 .9 0 .2 -5,.8 -2,.5 .2 .5 -1,.8 50 51 52 53 54 .4 .3 .4 .1 .2 .5 .0 1 2 0 7 .4 1466 .1 911 .1 2 3 .8 9 4 .7 361,.0 7 5 .5 55 56 57 58 59 60 61 - 1 9 5 .9 - 7 .2 - 1 9 3 .7 4 .9 0 .2 - 2 1 4 .3 - 3 1 .1 - 1 8 9 .0 5 .6 0, 2 62 63 64 65 66 1085 1281 783 23 87 351 36 M a r c h 9, 1994 Tangible Asset Holdings Tangible R.12 Annual Details of Changes in S t o c k s of Tangible Assets Asset Holdings ^ ^ Flows Annual 1 2 3 4 5 6 1277 . 1 6 9 6 ,.4 18,.7 92. 2 4 0 3 ,.8 65..9 1194.7 6 6 8 ..4 12. 5 73. 5 3 7 8 .,9 6 1 ..4 1293.8 742.2 17.3 73.8 394.7 65.8 1 4 3 0 ..6 811. 2 8. 7 85. 4 4 5 1 .9 73.,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 Households Farm business Nonfarm noncorp. business N o n f i n a n c i a l corp. bus. Financial institutions 7 8 9 10 11 12 9 8 0 ,.8 4 9 3 .,7 21..6 98.,9 326. 6 40.. 0 1 0 3 0 .,7 5 2 6 .,2 21 .,4 101 ..4 338. 6 4 3 ..0 1087.5 566.5 21.6 104.5 349.5 45.4 1123. 589. 22. 104. 358. 48. Capital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 13 14 15 16 17 18 2 9 6 ,,3 2 0 2 ..7 - 2 ..9 - 6 ..7 77..3 25..8 1 6 4 .. 0 1 4 2 .,2 - 8 .,9 -27. 9 4 0 ..3 18..4 206.3 175.6 -4.3 -30.7 45.2 20.4 5 3 4 8 6 4 Flows 1 2 3 4 5 6 7 8 9 10 11 12 3 0 7 ., 1 2 2 1 .9 -13. 7 - 1 9 .,4 9 3 .,4 2 5 ..0 Net capital formation Households Farm business Nonfarm noncorp. business N o n f inane ial c o r p . bus. Financial institutions 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 Households Farm business Nonfarm noncorp. business Nonfinancial cdrp. bus. Private finan. insts. 20 21 22 23 24 25 Public sectors State S local governments U.S. government Govt.-spons. enterprises Monetary authority 26 27 28 29 30 Unallocated 31 13 14 15 16 17 18 19 - 6 1 .• o -23. 5 - 7 8 .,6 -85.0 20 21 22 23 24 25 209. 5 2 3 0 ..4 5.. 0 6..7 - 1 8 ,.7 - 1 3 ..9 280. 3 240. 7 1 0. 5 27. 9 34. 2 - 3 2 ., 9 291. 2 2 8 3 ..7 5.. 1 3 0 ..7 16..0 -44. 2 203.2 187.5 14.1 19.4 -12.8 -5.0 26 27 28 29 30 - 2 2 6 ,. 0 - 4 6 ..9 - 1 8 0 .. 6 1 ,5 - 2 9 9 ..9 -45, 2 - 2 5 7 ., 0 2.,2 31 - 4 4 ,.6 - 3 .,9 32 33 34 35 36 37 38 3 0 8 ..4 1 2 7 ,.8 3..8 65..8 8 8 ..9 - 1 1 ..0 11 ,.1 199. 2 1 2 7 ..0 3. 6 5 0 ..0 18.,7 5.. 0 5.. 0 2 0 5 .,7 1 1 7 .,4 4. 2 6 2 .,3 18. 8 -5. 3 -2. 2 1 5 7 ,.8 1 5 0 .. 1 4..5 21 ..9 - 2 1 ..2 -7. 2 - 4 ..7 R e v a l . of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. - Inventory valuation adj. Financial institutions 32 33 34 35 36 37 38 39 40 41 42 43 3 0 8 ,, 4 142..0 1 1 7 ,, 1 21 ,.9 2 7 .4 199. 2 125. 2 50. 8 - 1 8 .. 4 41 .,7 2 0 5 .,7 1 4 2 .,5 32. 3 8. 3 2 2 .,6 157. 8 213. 5 -93. 5 17. 5 20..4 R e v a l u a t i o n s b y 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 44 45 46 47 48 49 - 6 1 5 ,.4 - 3 0 3 ..7 7.. 1 - 1 1 8 ,.4 - 1 8 4 ..8 - 1 5 ..6 -213. 8 2 4 2 ..8 - 7 .. 1 - 1 2 2 ..7 -319, 5 - 7 ..4 - 4 5 7 .. 7 -11. 6 13., 1 - 1 3 9 ., 4 -316. 6 - 3 ., 1 - 5 7 ..6 2, 5 18..5 -55. 2 -21 . 0 -2. 3 C h a n g e in l a n d v a l u e s Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s i n e s s Private finan. insts. 44 45 46 47 48 49 50 51 52 53 54 - 7 ..8 3 . 0 0, 2 - 2 ..4 - 2 .,7 , 4 1. 9 0., 1 7 - 1 .7 6.. 1 3..4 -1. 3 3. 9 0., 1 A d J . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business N o n f inane ial c o r p . b u s i n e s s 50 51 52 53 54 -402. 5 -54. 2 -350. 8 2. 5 -340.2 -61.6 -280.9 2.3 32. 6 52.0 - -6. 4 -4. 3 3 2 - 1 .6 Memo: Total financial flows 55 56 57 58 59 60 61 1 2 1 6 ..0 1 4 8 5 ..2 9 2 6 ..8 23..8 98.,9 3 8 8 ..6 47. 2 1 1 7 1 .3 1473. 5 9 0 9 ., 1 2 3 .. 0 1 0 1 ..4 4 1 5 ..8 2 4 ..2 1182. 6 1 5 8 2 ., 0 1025. 8 2 2 .,4 104. 5 413. 3 16., 0 1293. 6 1627. 6 9 9 8 ..7 22..8 104. 8 4 4 1 ..8 5 9 ..4 gross domestic investment, f l o w of f u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business N o n f i n a n e ial c o r p . b u s i n e s s Private finan.institutions 62 63 64 65 66 -224. 6 - 4 6 ..9 - 1 8 4 .. 0 6..1 0..2 -298. 3 -45. 2 - 2 5 9 .,7 6.,4 0..2 - 3 9 9 ., 4 - 5 4 ..2 - 3 5 3 ..4 7..9 0. 2 - 3 3 4 .. 0 - 6 1 ,.6 - 2 8 3 ,.6 11.. 0 0. 2 Public sectors State & local governments U.S. government Govt.-spons. enterprises Monetary authority (1) Data are In billions of dollars. Lines 2 0 + 2 6 + 31. 19 55 56 57 58 59 62 63 64 65 66 March 9, 1994 Household Sector Household Factors 62 Annual Accounting 6 in N e t G r o s s i n v e s t m e n t of household sector, from f l o w of f u n d s a c c o u n t s 1947 3 1 ..7 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s - Capital Sector Worth Annual R.100 2 3 4 5 Change Flows 1946 1 for consump. = Net Investment Balance Sheet 7 allow.,NIPA flow, basis 1948 Households 33 , 1 5 6 9 3 and 1949 Nonprofit 1950 1951 1952 Flows 1953 Organizations 4 1 .,1 39. 2 51 ., 1 5 9 .. 0 64.5 64. 2 1 36. 2 4. 9 12. 9 8.. 0 3 8 .. 1 1. 2 9., 0 7.,8 4 7 ..8 3..4 17.. 0 13,,6 47, 5 11..5 19,.9 8..4 46.8 17.7 29.5 11.8 51 ., 7 12. 6 2 5 ..1 12. 5 2 3 4 5 6 2 2 .0 9.,7 16.. 1 6..3 30. 2. 10. 8. 14..6 14.. 1 16. 2 18.. 0 2 0 ,, 0 23,.3 25.8 2 8 .,0 17.1 18.9 24. 9 21 ..2 31 . 1 35,.7 38..8 36.3 7 23. 3 23,.3 25. 8 25. 8 28. 0 28. 0 8 9 10 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 2.1 16.7 14.6 14.1 14. 1 16. 2 16. 2 18.. 0 18.,0 20. 0 20. 0 11 + R e v a l . o f p h y s i c a l a s s e t s C h a n g e in v a l u e 12 Depreciation charges 13 -Gross purchases, FOF basis 14 18.8 24.1 16.7 22.0 17.3 33.7 14.1 30.5 7. 3 27. 2 16, 2 36..2 1. 2 21. 2 18..0 38., 1 15.8 43.6 20.0 47.8 12..8 37,. 0 23. 3 47, 5 3., 1 2 4 ., 1 25..8 46.,8 -2.1 21.6 28.0 51 .7 11 12 13 14 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & equipment Consumer durables 18.8 11.7 1.7 5.4 17.3 13.1 1.7 2.5 7,.3 5,.9 0,,4 0, 9 1. 2 1. 9 2 .6 15.8 8.3 0.8 6.7 12,.8 7 . 1 0,.9 4,.9 3..1 2.. 0 0..2 0..9 -2.1 -.7 -.2 -1.3 15 16 17 18 -9. 3 -8. 2 1. 2 -3. 6 -2. 4 1 .2 -2, 2 - 1 ,2 1 ., 0 8. 3 9,. 1 0..8 2 3 ..2 2 4 .. 0 0. 7 20.,6 22..5 1..9 0.2 1 . 7 1.5 -7 . 1 -6.0 1 . 1 20 21 22 5.1 5.1 5.4 5.4 5.3 5.3 5.6 5.6 23 24 25 28. 1 26.6 36.6 36. 0 5.0 -1 . 1 -.6 4.0 0.5 8 9 10 15 16 17 18 19 + C h a n g e in t h e v a l u e land h o l d i n g s of • equities 20 21 22 8 R e v a l . of c o r p o r a t e mutual fund shares C h a n g e in v a l u e -Net purchases 23 24 25 + R e v a l . of l i f e i n s u r a n c e pension fund reserves C h a n g e in v a l u e -Net acquisitions 26 27 28 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 29 30 31 + R e v a l . of I n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s 32 33 • Other = Change & net worth Memo: 34 Net worth outstanding 35 D i s p o s a b l e p e r s o n a l Income Data are in billions of dollars. 9. 0 -.6 6.3 6.3 8.5 8.5 8.0 8.0 27.8 31.7 4.0 19.6 21.0 1.4 0.8 2.3 1.5 0.5 1.6 1.1 26 27 28 29 30 31 -.1 revaluations in -1.5 6.1 6.1 .2 - . 2 32 -.4 1.8 76.0 41.3 36.8 105.8 97.5 54.7 36.9 33 755.5 158.9 8 3 1 .6 168.8 872.9 909.6 187.9 1015.4 207.5 1112.9 227.6 1167.6 240.2 1204.5 255.5 34 35 188.2 -.3 -.1 -.3 56.2 March 9, 1994 Household Sector Household Factors Accounting for Change in Net Sector Worth Annual 1954 1955 1956 R.100 1957 Households 1958 and 1959 Nonprofit 1960 1961 Flows 1962 Organizations G r o s s I n v e s t m e n t of household sector, from f l o w of f u n d s a c c o u n t s 1 58.5 68.6 75.2 77.7 78.2 79.3 83.3 8 4 •8 92.6 2 3 4 5 52. 0 6.5 18. 0 11.5 63.4 5.1 24.7 19.6 62.4 12.8 28.5 15.7 62.1 15.6 27. 7 12.1 58.8 19.4 30.9 11.6 71.8 7.5 30.0 22.5 71.0 12.3 30.7 18.4 69 2 15 .6 3 3 -3 17 • 7 76.9 15.7 37.4 21.7 6 30.9 32.5 36.3 39.1 41.2 43.3 44.8 46 47.9 - Capital 7 27.6 3 44.8 = Net investment Balance Sheet - D e p r e c i a t i o n v a l u a t i o n ad J. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 36.0 - 38.9 - 38.6 * 37 - 0 36.0 38.5 38 5 . * 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s consump. 2 3 4 5 allow.,NIPA 6 flow, basis 7 8 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 11 12 13 14 -.3 20.8 30.9 52. 0 3.0 33.9 32.5 63.4 8.4 34.5 36.3 62.4 -3.9 19.1 39.1 62.1 1 .6 19.2 41 . 2 58.8 -2.6 26.0 43.3 71.8 -4.7 21.5 44.8 71.0 -3. 18. 46. 69. 8 9 5 2 -6.9 22.2 47.9 76.9 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 11 12 13 14 15 16 17 18 -.3 2.6 -2.9 3.0 4.5 0.9 -2.4 -3.9 - . 4 0.1 -3.6 1.6 -.2 -.3 2.1 -2.6 -1.8 -.1 -.6 -4.7 -1 . 9 -.3 -2.6 -3. 8 -2. 8 0. 3 - 1 .3 -6.9 -4.2 0.4 -3.1 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 19 7.3 9.6 10.6 9.0 9.4 12. 3 11.1 C h a n g e in t h e v a l u e land h o l d i n g s 19 8.4 1.5 1 . 1 5.8 10.9 20 21 22 67.8 68. 6 0.8 48.2 69.4 1.2 18. 1 20.2 2.1 23 24 25 0.1 8.0 8.0 2.3 11.0 8.7 9.7 9.7 26 27 28 4.3 2.1 -2.1 11.7 8.7 -3.0 17.2 15.4 -1.8 12.1 -35.6 -34.1 1 .6 • • 32 26.6 27 . 3 0.7 -4.2 -3.9 0.3 105. 1 106. 3 1 .1 -63.4 -64.8 -1.4 -.7 9.1 9.7 2.7 13.4 10.7 1.2 13.4 12.2 0.1 12.0 11.9 2 16 . 7 12. 5 -3.3 10.3 13.5 + R e v a l . of l i f e i n s u r a n c e p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 12.0 10.3 -1.6 12.1 13.3 1.2 10.4 3.5 -7.0 5.8 1 . 9 -3.9 10. 6 8. & -2. 0 12.3 9.1 -3.2 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 26 27 28 + R e v a l . of i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s 29 30 31 Data -.1 -.2 -.2 -.3 -.3 0.7 106.6 110.6 93.2 22.1 165.5 81.5 l u ni:i are in i sj:5 billions of i nu dollars. i R e v a l . of c o r p o r a t e e q u i t i e s 8 m u t u a l fund s h a r e s C h a n g e in v a l u e -Net purchases 101.8 1 03. 7 1.9 29 30 31 3 3 of ni:i "xi * 44.9 1::: i -.3 0.7 166.4 -4.8 iii\ + Other = Change revaluations in net worth 20 21 22 8 23 24 25 32 33 it t M a r c h 9, 1994 Household Sector Annual Household , , o 4 Flows Factors Accounting 1964 1965 R. 100 G r o s s i n v e s t m e n t of household sector, from f l o w of f u n d s a c c o u n t s 2 3 4 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 - Capital 7 = Net Investment Balance Sheet consump. allow.,NIPA 11 12 13 14 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 15 16 17 18 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables + C h a n g e in t h e v a l u e land h o l d i n g s 20 21 22 • R e v a l . of c o r p o r a t e & m u t u a l fund shares C h a n g e in v a l u e -Net purchases + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 29 30 31 + R e v a l . of i n v e s t m e n t In bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s • Other net worth Memo: 34 Net worth outstanding 35 D i s p o s a b l e p e r s o n a l income Data are in billions of 1968 1969 1970 1971 122.8 140.3 146.8 150.8 158.5 1 7 5 ,.1 1 9 5 .3 28.2 98.8 24.0 52.9 28.9 102.2 38.1 60.7 22.6 104.3 42.5 66.9 24.5 117.4 33.4 66.3 32.9 124.9 33.6 60.9 27.2 123..0 5 2 .1 70,.3 18,.2 147 48 92 43 49.8 52.2 54.4 57.4 62.2 75.9 8 3 ,.0 90..9 82.6 9 2 .1 104.4 68. 1 83.0 * 52.2 52.2 54.4 54.4 57.4 57.4 62.2 62.2 68.1 68.1 75.9 75.9 -10.8 -2.2 23.8 49.8 84.4 37.4 52.2 91.7 -7.5 37. 0 54.4 98.8 16.0 60.8 10.7 52.8 43.9 93. 1 57.4 102.2 104.3 117.4 36.9 85.9 75.9 124.9 -10.8 -10.0 0.6 -2.2 14.7 10.7 6.3 2.1 1.0 -1.4 -4.2 -.7 3.5 43.9 36.0 3.8 4.1 36.9 29.3 4.4 3.3 14.9 49.8 49.8 1.4 0.6 -7.5 -.9 1.3 -7.9 16.0 62.2 Flows Organizations 91.7 21.9 50.8 28.9 75.4 74.3 74.9 74.9 79.1 77.6 -1.5 -68.1 -68.2 3.9 18.4 14.5 4.1 21 . 1 17.1 4.1 21.9 17.8 -5.0 15.2 20.2 12.5 9.6 -2.9 17.8 12.4 -5.4 25.4 21.8 -3.6 25.7 23.5 145.5 142.5 -3.0 & revaluations in Nonprofit 113.6 -1.1 26 27 28 = Change 1967 and 99.2 equities R e v a l . of l i f e i n s u r a n c e pension fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 32 Sector Worth 68.1 .0 .3 . 1 .8 * 1 2 3 4 5 6 7 90..9 90..9 8 9 10 41 ,,7 97,.7 90..9 1 4 7 ., 0 11 12 13 14 26,,5 13.. 0 4. 3 9..1 41 .7 39.,4 6. 4 - 4 .. 1 15 16 17 18 14,.6 16,.6 19 102.6 91 ..5 -11. 2 20 21 22 8 3 ., 0 8 3 .. 0 26.,5 66 ..5 8 3 ..0 1 2 3 ..0 of 23 24 25 33 1966 Households 61.5 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA • In N e t 84.4 14.8 43. 0 flow, basis 8 9 10 19 Change Annual 1963 1 for dollars. -2.2 145.8 139.7 -197.3 -208.4 -11.1 6.6 -6.0 27.7 19.6 21.1 -6.1 17.2 23.3 2. 2 28..0 25.,8 15..5 45..8 30, 3 23 24 25 23.4 19.3 -4.1 38.6 35.9 -2.7 35.3 27.6 -7 . 7 2 9 .,6 22., 1 -7. 5 5 4 ., 0 46..6 - 7 ..4 26 27 28 0..8 2., 4 1 .6 . 10. 6 22. 6 12.. 0 29 30 31 8.4 28.0 107.8 116.0 8.2 0.2 0.8 145.2 161.5 2135.8 418.3 2297.3 454.7 0.2 2474.2 491. 0 2537.6 530.7 - 1 7 .. 1 - 1 6 ..8 0, 2 -.2 -29.4 .4 -1 . - 2 ..4 32 287.6 346.8 44.8 147. 3 342. 9 33 2825.2 568.7 3172.0 617.8 3216.7 663.8 3706. 9 7 8 4 ..8 34 35 3 3 6 4 ., 0 7 2 2 .. 0 Household Sector Household Factors Annual Accounting for Change in N e t Worth Flows Annual 1972 1'73 1974 R.100 1)75 Households 1976 and Nonprofit 1977 1978 1979 I960 2 2 0 .5 2 6 5 .8 2 4 3 .6 2 8 8 .3 323.9 367.7 3 9 6 .4 4 3 6 .2 4 6 3 .2 2 3 4 5 173 47 109 62 191 74 140 66 184 59 111 51 196 92 151 59 .1 .2 .8 .5 241.7 82.3 174.7 92.5 290.1 77.6 216.3 138.7 331.4 6 5 .0 2 3 1 .5 1 6 6 .5 348 88 251 163 329 134 254 120 1 3 8 .7 153.3 170.6 191 .1 2 1 6 .8 .0 .5 .9 .3 9 8 .7 7 .9 . 0 .8 .8 108 . 1 121 .8 157 . 7 .3 .3 . 0 .8 1 2 2 .1 121 .4 1 4 9 .6 170.6 * 8 9 10 9 8 .7 9 8 .7 11 12 13 14 74.8 1 4 9 .0 9 8 .7 1 7 3 .0 197.1 205 3 .0 .2 .3 . 1 2 1 9 .4 * .0 .3 .9 .6 2 3 4 5 Capital 6 - 2 1 7 .1 = Net investment Balance Sheet - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 11 12 13 14 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & equipment Consumer durables 15 16 17 18 C h a n g e in t h e v a l u e land h o l d i n g s 19 1 0 8 .1 108 . 1 122 . 1 1 2 2 .1 1 3 8 .7 1 3 8 .7 153.3 153.3 170.6 170.6 191 .1 191 . 1 2 1 6 .8 2 1 6 .8 2 4 6 .1 246 . 1 87.4 1 7 1 .1 108, 1 9 1 .9 139 201 122 184 .5 .7 . 1 .3 103 161 138 196 .9 .3 .7 . 1 110.1 198.5 153.3 241.7 171.3 290.7 170.6 290.1 219 360 191 331 236 367 216 348 226 309 246 329 139 83 11 44 .5 .8 .1 .6 1 0 3 ,.9 72,. 1 7 .7 24, 2 110.1 88.0 6.5 15.6 171.3 139.2 10.8 21.3 2 1 9 ,.8 172. 0 15,.0 3 2 .8 2 3 6 ,.0 158,.9 18, 2 5 8 ..9 2 2 6 .3 1 4 3 ,.3 19, 3 63..7 5 7 ,.3 8 3 .. 0 94.2 113.8 1 5 2 ..9 2 1 0 ..2 2 1 5 ., 0 .0 .2 .8 . 0 .3 .2 . 1 .0 consump. allow.,NIPA flow, basis 7 74 71 7 -3 .8 . .2 .0 .4 87 . 4 7 3 .5 8,.6 5. 2 19 40,.5 4 9 ., 0 20 21 22 93. 9 80. 3 -13. 5 - 1 9 1 .3 -203. 5 -12. 2 -220, 6 - 2 1 9 .,1 1.,4 125. 3 127. 8 2. 4 204.4 205.5 1.1 -94.8 -100.7 -6.0 2 1 ..1 10. 9 -10. 2 153. 3 132. 9 -20. 3 + R e v a l . of c o r p o r a t e e q u i t i e s 256. 1 & m u t u a l fund s h a r e s 256. 8 C h a n g e in v a l u e 0. 7 -Net purchases 23 24 25 11. 8 62. 3 50. 4 -25. 9 15. 9 41 .8 -29. 2 15. 3 44. 6 34.9 106. 4 71. 5 15.6 75.9 60.3 -16.2 64.1 80.3 17. 4 Ill . 7 94. 3 14. 4 117. 9 103. 5 40. 2 167. 1 126. 9 26 27 28 90. 7 73.3 -17. 4 132. 6 133. 7 1. 1 113. 2 77. 7 -35. 6 103. 0 81. 0 -22. 0 139.0 112.9 -26.1 145.0 123.7 -21.3 235. 4 203. 5 -31. 8 286. 7 233. 3 -53. 4 293. 1 231. 6 -61. 5 29 30 31 14. 9 22. 6 7. 7 -24. 4 -12. 2 12. 1 -26. 1 -27. 2 - 1 .1 22. 9 20. 5 -2. 4 18.3 28.6 10.3 -9.6 -3.9 5.7 3. 6 7. 2 3. 6 13. 4 16. 9 3. 5 32. 4 25. 1 -7. 3 • of + R e v a l . of l i f e i n s u r a n c e pension fund reserves C h a n g e in v a l u e -Net acquisitions * • 29 30 31 -1.5 -5. 2 4. 2 3. 1 0.1 -8.6 7. 5 -• 5 4. 7 180. 1 159. 8 625. 8 752.3 497.9 862. 9 1133. 0 1285. 0 = Change 34 35 4153. 7 848. 5 4333. 8 958. 1 6493. 6 1046. 6 5119. 4 1150. 9 5871.7 1264.0 6369.6 1391.3 7232.6 1567.8 8365.6 1753.0 9650.6 1953.0 Memo: Net worth outstanding Disposable personal Income billions of dollars. 23 24 25 R e v a l . of I n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s 446. 8 in & 26 27 28 32 • 20 21 22 R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 33 are 1 Capital expenditures Net financial Investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 4 6 .1 * .8 . 1 . 1 .4 G r o s s i n v e s t m e n t of household sector, from f l o w of f u n d s a c c o u n t s 15 16 17 18 Data Flows Organizations 1 6 Sector ^ ^ Other revaluations in net worth 32 33 34 35 M a r c h 9, 1 9 9 4 Household Sector Annual Flows Household Factors 66 Accounting 1983 R.100 G r o s s i n v e s t m e n t of household sector, from f l o w of f u n d s a c c o u n t s in N e t Sector Worth 1984 Households and 1985 Nonprofit 1986 1987 1988 1989 Flows Organizations 5 1 5 ,. 1 541 , .6 6 1 2 ..5 6 7 6 .2 7 2 9 ..2 8 2 7 ..5 7 5 6 ..1 7 8 3 ..4 911.1 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 3 5 0 ..9 1 6 4 ,.2 2 7 1 ,. 1 1 0 7 ,.0 3 4 4 ,> 4 1 9 7 ,.2 2 8 6 ,.4 89, 2 4 2 8 ..5 1 8 4 .. 0 3 7 0 ,. 0 1 8 6 ..0 4 9 7 .2 1 7 9 .0 3 9 9 .7 2 2 0 ,.7 5 3 7 .2 1 9 2 ..0 5 0 9 ..4 3 1 7 ..4 603. a 2 2 3 .,8 4 9 8 .. 1 2 7 4 ..4 6 3 0 ,.4 1 2 5 .. 7 4 2 1 ..9 2 9 6 ..2 6 7 5 ..2 108. 3 415. 2 3 0 7 .,0 700.3 210.8 491.6 280.8 2 3 4 5 - Capital 2 6 7 ,,3 2 8 5 ,.0 298. 3 3 1 3 ,.5 3 3 9 ..8 364. 5 3 9 3 ..2 423, 5 463.4 6 = Net investment Balance Sheet 362.8 360.0 2 3 4 5 6 Change Annual 1982 1 for 7 consump. allow.,NJtPA flow, basis 8 8 9 10 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 267.3 267.3 285.0 285.0 298.3 298.3 313.5 313.5 339.8 339.8 364.5 364.5 393.2 393.2 423.5 423.5 -2.5 460.8 463.4 9 10 11 12 13 14 R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 1 4 5 .1 2 2 8 .7 2 6 7 .3 3 5 0 ,.9 8 0 ,.2 1 3 9 ,.7 2 8 5 .0 3 4 4 ,.4 51 181 298 428 .5 .8 .3 .5 52.1 235.9 313.5 497.2 6 9 .7 2 6 7 ..1 3 3 9 .8 5 3 7 ,.2 1 2 6 .7 3 6 6 ,.0 3 6 4 .5 6 0 3 ,.8 1 6 2 ,.6 3 9 9 ,.7 3 9 3 .2 630.4 .4 2 5 1 ..3 4 2 3 .5 6 7 5 ,.2 125..4 3 6 5 ,.0 4 6 0 ..8 703. 3 11 12 13 14 15 16 17 18 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant & equipment Consumer durables 1 4 5 ..1 8 4 .1 16..5 4 4 ..5 5 1 .5 3 3 .1 9,.0 9,.5 52.1 37.1 9.1 5.9 6 9 ,.7 4 6 ,.7 9 .3 13. 8 1 2 6 .7 9 0 .6 11.. 1 25 . 0 1 6 2 ,.6 122. 3 11. 2 29.. 1 .4 -51 . .2 14. 5 36, 3 125. 4 100. 1 13..1 12. 3 15 16 17 18 + C h a n g e in t h e v a l u e land holdings of 19 equities 20 21 22 + R e v a l . of c o r p o r a t e 8 m u t u a l fund s h a r e s C h a n g e in v a l u e -Net purchases 23 24 25 • R e v a l . of l i f e i n s u r a n c e p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 26 27 28 • R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 29 30 31 + R e v a l . o f i n v e s t m e n t In bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s 32 * Other 33 = Change net worth Memo: 34 Net worth outstanding 35 Disposable personal income Data are in billions of 164.8 1 2 2 ..3 132..5 2 5 1 .4 1 7 6 ., 0 131 , .2 1 5 5 ., 9 1 9 5 ..5 240. 8 19 - 5 6 ..1 - 9 5 ..0 - 3 8 .,9 8 9 .,8 72. 9 -16. 9 1 5 5 ..2 1 5 9 ..6 4. 5 -14.1 -58.8 -44.7 391. 3 353. 7 -37. 6 2 7 8 ,.8 301. 2 22. 5 29. 8 2. 3 -27. 5 2 3 0 ..1 143..0 - 8 7 ,.1 459. 3 3 6 4 ..8 - 9 4 .,5 20 21 22 -27. 8 98. 9 1 2 6 .,7 51 ,2 229. 2 1 7 8 ., 1 70. 3 2 4 6 ..5 176. 2 13.0 175.4 162.4 90. 7 372. 6 281. 9 90..8 3 8 2 ..7 2 9 2 ..0 9.,1 2 3 0 .. 0 2 2 0 ..9 107. 3 2 7 2 ,.7 165..4 198., 1 536. 5 3 3 8 ..4 23 24 25 198. 7 152. 6 - 4 6 ., 1 82. 6 - 1 ..0 - 8 3 .. 7 1 3 4 .,6 4 3 ,.9 -90. 7 50.7 -32.3 -83.0 91. 8 22. 8 -69. 0 9 7 ,, 1 5 7 .,6 -39 . .5 1 8 8 ..4 117. 4 - 7 1 .0 152. 5 128. 4 2 4 ,, 0 186. 2 1 5 5 .,1 - 3 1 .. 1 26 27 28 -1.4 14.7 16.3 40. 4 60. 2 19. 8 22. 3 2 9 ,.6 7. 2 49. 6 72. 7 23. 1 29 30 31 & revaluations in 8 0 ,.2 4 4 ,. 0 11,.1 25,.1 dollars. - 1 1 .3 - 1 .5 9.8 21. 0 2 9 .,1 8. 1 2 5 ., 0 2 6 ..4 1..4 33. 4 49 . 7 16. 3 9.. 1 3. 5 -5. 6 - 4 .,0 10. 0 5 7 .,0 21.4 -4. 7 -4. 8 46. 3 26. 4 29. 6 32 6 5 7 ,,0 713, 7 940. 4 735.9 1244. 6 1216. 3 964. 2 1093. 5 1739. 4 33 10307.6 2174.5 11021.4 2319.6 1 1 9 6 1 .8 2493.7 12697.7 2759.5 13942.3 2943.0 15158.5 3131.5 16122.7 3289.6 17216.2 3548.2 18955.6 3787.0 34 35 M a r c h 9, 1994 , Household Sector Household Factors Annual Accounting for Change in Net Worth Sector 67 Flows Annual 1990 1991 1992 R.100 Flows 1993 Households and Nonprofit Organizations G r o s s i n v e s t m e n t of household s e c t o r , from f l o w of f u n d s a c c o u n t s 1 9 2 6 .8 909 . 1 2 3 4 5 696 230 439 208 .4 .4 .2 .8 6 6 8 .4 2 4 0 .7 431.6 1 9 0 .9 7 4 2 .2 2 8 3 .7 5 0 2 ,.7 2 1 9 .. 1 811 187 464 277 6 4 9 3 .7 5 2 6 .2 566.5 5 8 9 .3 - = Net investment Balance Sheet 1 0 2 5 .8 9 9 8 .7 .2 .5 .6 .1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s Capital consump. allow.,NIPA flow, oasis 6 7 4 3 3 .1 3 8 2 .8 4 5 9 ,.3 4 0 9 .. 4 8 9 10 3 .0 4 9 0 .7 4 9 3 .7 1 .9 , 528.1 5 2 6 .2 - 4 ,.3 562.2 5 6 6 ,.5 3 .4 592 . 7 5 8 9 .3 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 11 12 13 14 127 333 490 696 .8 .4 .7 . 4 127 267 528 668 1 1 7 ,.4 2 9 7 ..4 5 6 2 ..2 7 4 2 ,,2 1 5 0 ,.1 3 6 8 ,.6 5 9 2 ,.7 811 , .2 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 11 12 13 14 15 16 17 18 127 91 9 27 .8 . 0 .4 .4 127.. 0 80 . 6 4,. 7 41 , .7 1 1 7 ., 4 8 5 ., 4 9..5 2 2 .,6 1 5 0 ,. 1 3 7 ,. - 8 ,, 20., R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 2 4 2 ,.8 -11. 6 19 - 3 0 3 .. 7 20 21 22 - 9 5 ..8 - 7 4 ,.5 21 ..3 23 24 25 -113. 8 69..9 1 3 3 ..8 . 0 .2 . 1 .4 1 7 0 4 2. 5 373. 5 575. 8 202. 3 2 1 9 .3 4 4 4 .. 0 224. 7 2 9 7 ..3 6 8 1 .9 384. 5 73. 5 328. 6 255. 1 176. 2 473. 7 297. 5 + R e v a l . of l i f e i n s u r a n c e p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions - 8 3 ..4 -95. 9 -12. 5 -64. 4 -70. 1 -5. 7 -28. 4 -53. 3 -24. 9 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 26 27 28 57. 0 86. 3 29 .8 30. 0 22. 4 -7. 5 28. 6 39. 5 10. 9 R e v a l . of i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - I n v e s t m e n t by h o u s e h o l d s 29 30 31 29 30 31 -14. 3 6 .7 21 .5 32 -26. 1 -24. 2 52. 7 21 . 7 33 -22. 5 1798. 6 1034. 6 975. 9 34 35 18933. 1 4 0 5 0 .6 20731. 8 4 2 3 0 .6 21766. 4 4 5 0 0 .2 22742. 3 4 7 0 7 .3 in billions 19 8 0 1 ., 1 8 8 3 ., 0 3 1 .,9 32.. 0 - 6 7 ..5 - 3 5 ..5 are of R e v a l . of c o r p o r a t e e q u i t i e s 8 m u t u a l fund shares C h a n g e in v a l u e -Net purchases 26 27 28 Data + C h a n g e in t h e v a l u e land h o l d i n g s 7 of dollars. • + Other = Change revaluations in net worth Net worth outstanding Disposable personal income 20 21 22 8 23 24 25 32 33 34 35 M a r c h 9, F a r m and 1994 Noncorporate Business 68 Annual Farm Factors Accounting for Change 6 Gross farm flow i n v e s t m e n t of business sector, from of f u n d s a c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s + Proprietors' net 7 - Capital 8 = Net investment Balance Sheet 9 10 11 and Noncorporate Busines/ Worth Annual 1948 R.102 2 3 4 5 Net Flows 1947 1 in investment consump.allow., NIPA Farm 1949 Business 1951 1953 (1) 1.3 1.6 1.9 2.2 2.2 1.5 3.3 2.8 3.1 -1.2 5.1 -2.7 -.4 0.7 2.7 5.4 -2.7 0.3 3.0 2.6 0.2 1.2 1.2 1.6 1.9 1.9 2.1 2.4 2.8 3.0 3.2 -.9 0.7 1.6 0.1 -.1 -.2 5.9 -3.9 -.3 3.7 0.8 -1.0 1.3 1.6 flow, basis 5.5 -2.5 2.4 1.5 4.7 -1.6 -.1 1.6 1.3 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 1952 Flows 9 10 1.3 1.3 1.6 1.9 1.9 2.1 2.1 2.4 2.4 2.8 2.8 3.0 3.0 3.2 3.2 1 2 + 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 v a l u e 14 Depreciation charges 15 -Gross purchases, FOF basis 8.3 9.2 1.3 20.8 -2.6 8.7 11.3 2.4 5.1 3.2 5.8 -4.1 6 1.5 -3.4 0.6 1.9 5.9 -1.9 -.4 3.2 4.7 12 13 14 15 16 17 18 19 8.3 1.6 1.2 5.5 20.8 -3.4 -2.6 0.2 8.7 3.2 0.6 1.3 1.3 -1.9 -.2 16 17 18 19 5.1 1.3 worth 14.2 21.2 outstanding 93.3 114.5 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 20 + C h a n g e in t h e v a l u e land h o l d i n g s 21 + Other 22 = Change 23 Net 2.2 1.6 20.7 1.6 1.7 1.5 17.6 0.6 0.8 -4.8 -1.4 2.1 3.3 0.3 -3.0 0.8 1.0 6.9 2.8 1 5.4 0.5 -4.6 of 20 21 revaluations in worth net 11 22 (1) 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 . R.103 G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m f l o w of f u n d s a c c o u n t s Nonfarm Noncorporate Business 5.0 3.7 4.2 4.5 4.7 4.0 6.9 -2.7 4.9 -.4 0.6 8.6 0.3 5.1 -1.4 0.9 2.3 2.9 -2.3 0.4 1.4 NIPA 5.0 3.7 9 10 11 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -2.1 2.9 5.0 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 16 17 18 19 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 3 equipment Inventories 1 2 3 4 5 6 7 Capital expenditures Net financial Investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s «• P r o p r i e t o r s ' - Capital = 8 • 20 investment consump.allow., Net investment Balance Sheet + Other 22 = Change 23 Net worth are in net 1.0 0.3 2.7 0.2 4.2 4.5 4.7 5.4 3.7 3.7 4.2 4.2 4.5 4.5 4.7 4.7 5.4 5.4 5.7 5.7 5.9 5.9 11.9 13.0 2.9 4.0 12.3 13.7 3.7 5.1 5.4 1.7 5.8 9.6 4.7 6*6 7.6 5.4 6.4 2.3 1.9 5.7 5.3 2.2 11.9 7.4 12.3 8.3 2.9 6.6 0.7 5.8 3.5 1.6 0.7 2.3 2.3 0.4 -.4 2.4 2.0 2.2 20 -.9 -.1 -.3 21 10.4 22 2.8 1.7 of revaluations in worth 13.2 outstanding 108,6 billions 5.8 0.1 0.7 -3.8 1 . 9 5.7 1.0 1.2 0.2 1.8 0.6 flow, basis C h a n g e In t h e v a l u e land h o l d i n g s 21 Data net 5.7 5.3 0.4 2.1 6.4 -1 . 0 0.4 1.4 of dollars. 1.1 8.1 2. 1 4.2 6.9 4.5 4.9 5.4 3.6 1 . 7 1.6 1.1 8.8 8.6 4.6 1.8 0.3 2.1 5.9 5.8 2.2 1.7 9 10 11 12 13 14 15 16 17 18 19 M a r c h 9, 1 9 9 4 F a r m and N o n c o r p o r a t e Business Farm Factors Annual Accounting for Change in N e t and Noncorporate Worth 69 Flows 1954 1955 1956 1957 R.102 2 3 ^ S 5.3 3.4 3.9 ~•* * 0- & 3.2 0*2 0* 1 ~•1 1958 Farm Business 1959 1960 1961 Business Annual Flows i n v e s t m e n t of business sector, from of f u n d s a c c o u n t s 1 1962 (1) 3.6 3.7 3.8 3.9 2.6 1.0 ~•1 -1.1 3.8 -.1 ~•1 * 6.0 -2.2 0•4 2.6 3.0 0.9 -.6 -1.4 3.9 4.7 -.9 -.3 0.5 3.9 4.0 5.0 -1.1 0.1 1.2 4.9 -1.0 * 1.0 Gross farm flow 'Capital e x p e n d i t u r e s Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s * 3 -1.6 -1.9 -1.4 0.6 -3.9 -.7 -.6 -1.7 7 3.3 3.4 3.6 3.7 3.8 3.9 3.9 3.9 4.0 ® 3 -1.6 -2.0 -1.4 0.6 -3.9 -.7 -.6 -1.7 ' ~ 3.3 *.3 ~ 3.4 3.4 ~ 3.6 3.6 * 3.7 3.7 * 3.8 3.8 3.9 3.9 ~ 3.9 3.9 3.9 3.9 ~ 4.0 4.0 D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 11 •0 -1.4 3.3 3.9 ~•6 -.9 3.4 3.2 2.4 1.4 3.6 2.6 1.4 1.4 3.7 3.8 0.6 2.7 3.8 6.0 -.6 -1.5 3.9 3.0 0.9 1.7 3.9 4.7 0.3 1.3 3.9 5.0 1.1 2.1 4.0 4.9 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 IS 19 -2.0 * I•; -2.1 -.6 0'2 0'^ -1.8 2.4 * 1- % 1.2 1.4 ~• 3 0.7 1.0 0.6 -.2 0.4 0.4 0.9 -.2 0.2 0.8 0.3 0.1 0.4 -.2 1.1 0.1 0.5 0.5 20 3.2 4.6 5.4 4.9 21 - - 22 0.9 2.3 5.0 4.3 23 141.9 144.2 176.0 180.3 11 1* 1* -.6 -.2 0.2 -.6 + Proprietors' - Capital net 2 3 4 5 = Net investment Balance Sheet • investment consump.allow., 6 NIPA flow, basis 7 8 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 3 equipment Inventories 16 17 18 19 C h a n g e in t h e v a l u e land h o l d i n g s 20 + Other of revaluations = Change Memo: Net worth in net 21 worth 22 outstanding 23 (1) 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 . R.103 N o n f arm Noncorporate Business 1 ®•1 6.4 7.0 7.5 7.6 7.8 8.0 8.2 8.4 2 ^ Z. ^- 3 ~1 * 0«7 3 •8 7.8 -1.3 0.3 1•6 7.4 -.4 1.8 2.2 7.7 -.3 0.3 0.6 7.9 -.3 2.4 2.8 7.9 -.1 -1.6 -1.4 7.6 0.4 -.1 -.5 8. 1 0.1 0.5 0.5 9.5 -1.1 -. 1 1.0 -1.8 -1.4 -.3 0.6 -3.1 -3.2 -1.4 -1.5 7.5 7.6 7.8 3.0 8.2 8.4 5 * 7 6 ° '* -1.8 -1.4 * 10 11 * 6.I &.1 12 1~ 1* J* 1' J® 19 0.2 ^. 4 7.0 + Proprietors' - Capital net investment consump.allow., = Net investment Balance Sheet 1 2 3 4 5 6 NIPA 7 flow, basis 0.6 -3.1 -3.2 -1.4 -1.5 * 6.4 6.4 * 7.0 7.0 * 7.4 7.5 * 7.6 7.6 * 7.8 7.8 * 8.1 8.0 * 8.2 8.2 * 8.4 8.4 Depreciation valuation adj. Depreciation charges - C a p . c o n s u m p . a l l o w . , N I PA 9 10 11 2.4 2.5 &. 1 6.3 6.1 7.4 6.4 7.8 6.2 6.7 7.0 7.4 3.3 3.6 7.4 7.7 2.4 2.8 7.6 7.9 4.0 4.1 7.8 7.9 3.1 2.7 8.1 7.6 3.0 3.0 8.2 8.1 4.8 5.9 8.4 9.5 * R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 15 2.4 2.2 •2 * 6.1 3.7 1*8 0•^ 6.2 3.2 2.5 0.5 3.3 1.8 1.0 0.4 2.4 1.7 0.2 0.5 4.0 3.9 0.4 -.3 3.1 3.7 -.2 -.4 3.0 4.0 0.3 -1.3 4.8 4.8 0.6 -.6 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 2.0 A 0-9 2.0 2.3 1.4 1.0 1.1 1.4 2.6 21 * " * * * * * * 22 1.5 6.6 8.7 4.4 4.0 2.0 1.3 4.1 5.3 23 165.0 171.7 180.3 184.8 188.8 190.8 192.0 196.1 201.5 in Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s -.3 0 are nonfarm sector, accounts 0-2 20 Data G r o s s i n v e s t m e n t of noncorporate business f r o m f l o w of f u n d s billions of dollars. • C h a n g e in t h e v a l u e land holdings other revaluations = Change Memo: Net worth in net 8 of 20 21 worth 22 outstanding 23 M a r c h 9, F a r m and 1994 Noncorporate Farm Business Factors 70 Annual Accounting for Change Gross farm flow 1964 i n v e s t m e n t of b u s i n e s s s e c t o r , from of f u n d s a c c o u n t s 1965 1966 1969 1970 6.4 -2.0 0.3 2.3 5.7 7.5 -2.6 0 . 4 3.0 7.8 -2.5 0 . 6 3.0 6.6 -1.0 0.2 -1.7 -2.9 -1.6 -2.4 1.3 -1.2 NIPA 4.0 4.2 4.3 4.6 5.2 6.1 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., 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 1.3 4.0 5.3 0.7 0.3 4.2 3.8 4.7 6.7 4.3 6.4 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 0.7 0.5 4.7 -.1 0.6 0.6 -.4 -.4 3.3 1.9 0.9 1.5 - . 6 0.9 0.6 1 . 0 - .7 4.9 1.7 2.4 0 . 9 7.8 10.7 + Proprietors' net 8 investment consump.allow., 1.4 1.2 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & equipment Inventories + C h a n g e in t h e v a l u e land h o l d i n g s -.5 0.6 1 . 1 of 0.2 1.1 6.8 worth 5.6 13.8 outstanding 191.6 205.4 in Memo: 23 Net worth net 6.1 9.4 -3.0 0.7 3.7 -1.8 6.1 6.5 6.5 2.2 8.1 2.7 6.1 6.6 2.2 0.8 2.3 8.9 243.3 11.1 6.5 9.4 8.1 9 10 11 12 13 14 15 1.7 3.2 3.2 16 17 18 19 4.3 11.6 20 -.4 0.7 21 5.0 18.7 22 2.3 -1 . 0 revaluations = Change 1971 flow, basis 1 2 + 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 v a l u e 14 Depreciation charges 15 -Gross purchases, FOF basis + Other 5.3 -1.4 Flows 6.5 3.8 0.3 0.3 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 16 17 18 19 Business * (1) 5.3 - Capital 22 1968 1967 Business 4.9 = Net investment Balance Sheet 21 Farm 4.7 7 20 Noncorporate 4.4 2 3 4 5 9 10 11 and Worth Annual R.102 6 Net Flows 1963 1 in 267.0 (1) 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 . R.103 1 G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m f l o w of f u n d s a c c o u n t s 2 3 4 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 * Proprietors' 7 - Capital net 8 = Net investment Balance Sheet investment consump.allow., NIPA flow, basis 10.3 11.1 12.0 13.2 14.3 15.7 11.4 -2.4 0 . 6 3.0 14.5 -4.2 0.9 5.1 13.4 -2.3 0 . 9 3.2 17.1 -5.1 -.7 4.4 21 . 0 -7.8 1 .5 9.3 21 . 1 8.1 24.9 -9.2 7.2 16.4 -2.5 -2.1 0.2 -4.2 -4.1 -6.7 -6.6 -5.9 9.1 9.6 10.3 11.1 12.0 13.2 14.3 15.7 8.7 9.1 9.1 -.1 9.6 9.6 10.3 10.3 11.1 12.0 12.0 13.2 13.2 14.3 14.3 15.7 15.7 11 3.4 4.7 8.7 8.2 8.1 11.9 9.6 13.3 9.9 12.2 19.5 24.6 12.0 17.1 18.1 10.6 9.1 11.4 12.8 17.0 10.3 14.5 25.9 13.2 25.8 35.0 15.7 24.9 12 13 14 15 8.2 8.1 12.8 1.7 -.3 10.6 3.1 -.9 9.9 7.8 2.3 -.3 16 17 18 19 10.0 -1.3 1.3 -1.2 8.6 * R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 10.0 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & equipment Inventories 3.4 3.8 0.9 -1.3 + Other 22 = Change Memo: 23 N e t w o r t h Data are in of revaluations in net worth outstanding billions of -6.8 1 . 3 -1.2 12 13 14 15 21 Business 9.6 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA +• C h a n g e in t h e v a l u e land h o l d i n g s Noncorporate 13.3 -3.7 0.4 4.1 9.1 9 10 11 20 Nonfarm dollars. 8.6 7.9 1. 0 -.8 6.6 11.1 11.1 13.4 9 10 21.0 14.4 21 .3 14.3 21 . 1 19.5 14.8 4.9 18.1 14.4 13.0 5.2 8.0 6.0 -.2 -.2 0.5 25.8 16.6 7.3 1.9 7.7 9.8 20 1.9 -.6 21 17.5 29.1 22 M a r c h 9, 1 9 9 4 F a r m and N o n c o r p o r a t e Business Farm Factors Annual Accounting for Change in N e t and Noncorporate Worth 71 Flows Annual 1972 1974 1975 R.102 1976 Farm Business 1977 7 .4 8 .5 9.3 11.3 12,.2 1 3 .5 2 3 4 5 8,.8 - 1 .4 , , 1 .0 2 .3 12,.2 - 3 .7 0..8 4 .5 10.0 -.7 0.5 1.2 16.8 -5.6 1.0 6.6 14, 3 - 2 ., 0 1 ,5 , 3, 5 22 -9 1 10 6 - 3 ..5 - 5 .0 -7.6 -3.2 -8. 2 -5 . 0 7 7 .2 7,.9 9.1 10.7 11. 8 1 3 .2 - 3 ..3 - 4 ..4 9 10 11 7,.2 7. 2 7..9 7 9 12 13 14 15 17. 6 19. 2 7. 2 8. 8 16 17 18 19 20 -7.4 -2.7 - 7 ..7 .5 . 0 .8 .8 - 4 ,.7 15.8 17.9 20. 0 21 . 0 -5.2 2.1 7.2 24.7 -6.8 2.1 8.9 13.7 6.3 1.9 -4.3 -10.4 -17.0 -20.6 14.9 17.0 19.5 -9.5 -16.1 -20. 1 Gross farm flow i n v e s t m e n t of business sector, from of f u n d s a c c o u n t s 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 + Proprietors' 6 - Capital net investment consump.allow., = Net investment Balance Sheet NIPA flow, basis 7 8 9.1 9.1 10.7 10.7 11. a 11 .8 13,.2 1 3 .2 14.9 14.9 17.0 17.0 19.5 19.5 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 2 9 .,0 33. 3 7. 9 12. 2 14. 1 15.0 9.1 10.0 7.2 13.3 10.7 16.8 7. 4 9. 9 11 .8 14. 3 11,.6 20,.9 13,.2 22,.5 32.4 38.5 14.9 21 . 0 23.4 31.1 17.0 24.7 35.6 29.8 19.5 13.7 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 15 17. 6 2. 7 4. 9 10. 0 29. 0 2. 8 5. 0 21. 2 14.1 3.1 11.9 -.9 7.2 2.6 6.7 -2.2 7. 4 3. 0 6. 9 -2. 5 ,6 11 . 4. 4 8.,8 ,5 -1 . 32.4 5.3 11.6 15.5 23.4 5.5 15.6 2.2 35.6 5.2 17.3 13.1 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 22. 0 53. 7 31.4 44.4 71. 7 45. 6 85.5 97.0 68.1 C h a n g e in t h e v a l u e land h o l d i n g s 20 - 21 " 36. 3 22 Flows CI) 1 8 Business 78. 3 38.1 " 48.9 71 . 3 540.0 52. 6 108.4 592.5 * 104.3 805.3 83.6 888.9 • Other of 21 revaluations = Change in Memo: Net worth net 9 10 11 22 worth outstanding (1) N o n c o r p o r a t e farms, n o n f a r n 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 . R.103 1 17.4 2 3 4 5 30.8 -13.4 6.5 19.9 6 7 8 19 .3 Nonfarm Noncorporate Business 22.2 25.6 27.8 3 0 .9 .2 .9 .2 .1 30.3 -8.0 4.9 12.9 23.8 1.8 1.9 0.1 27.3 0.6 8.8 8.2 35 -4 16 21 -14.0 5 .4 -28.5 -19.4 -18.2 17.4 19 .3 22.2 25.6 27.8 -14.0 5 .4 -28.5 -19.4 -18.2 35 -15 6 22 * * * . .8 .9 .4 .3 - 1 6 .3 30 . 9 - 1 6 ,.3 3 5 .4 47 -12 20 32 .5 .1 .7 .8 - 2 1 .8 , 35,.4 .8 -21 . 41 .8 60 -18 21 40 48.7 .3 .6 . 7 .2 63.4 -14.7 3.9 23.6 -37 . 1 -42.3 41 .8 -37 . 1 48.7 -42.3 * G r o s s i n v e s t m e n t of noncorporate Business f r o m f l o w of f u n d s nonfarm sector, accounts Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s * Proprietors' - Capital net investment consump.allow., = Net investment Balance Sheet flow, basis 9 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 3 5 ..4 41 ,.8 41 , .8 48.7 48.7 12 13 14 15 37.6 51.0 17.4 30.8 40,.3 56, 2 19..3 35. 2 50.3 58.4 22.2 30.3 40.8 39. 0 25.6 23.8 45.0 44.5 27.8 27.3 68.,4 7 3 ,,3 30, 9 35. 8 8 7 ..5 99. 5 35. 4 47. 5 121..5 1 4 0 ,.0 41 ,.8 60..3 124.9 139.6 48.7 63.4 16 17 18 19 37.6 28.3 7.9 1.4 40. 3 27. 3 11.,3 1, 7 50.3 28.8 20.7 0.9 40.8 27.5 15.0 -1.6 45.0 33.7 12.0 -.6 6 8 .,4 51 .. 0 17..1 0. 2 87. 5 6 2 ..9 23. 1 1. 5 121 ,.5 9 0 .,8 28..4 2..3 124.9 90.2 34.7 -.1 20 15.6 21 ..0 20.3 14.5 21 .2 23. 8 37. 9 52. 9 72.1 + C h a n g e in t h e v a l u e land holdings 0. 3 1 .1 -1.1 • 103. 5 137. 2 153.5 7 4 4 .. 1 881. 3 1034.9 » 21 -7. a " " " 22 39.2 58. 8 42.2 36.0 48.1 76. 2 23 379.4 438. 2 480.4 516.3 564.4 6 4 0 ..6 Data are In billions of dollars. NIPA 1 2 3 4 5 6 7 8 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 11 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 15 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 Other revaluations = Change Net worth in net worth outstanding of 20 21 22 M a r c h 9, F a r m and Annual 1994 Noncorporate Business Farm Factors 72 Flows Accounting for Change 1984 R.102 Gross farm flow 2 3 4 5 I n v e s t m e n t of business sector, from of f u n d s a c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 + Proprietors' 7 - Capital net investment consump.allow., Net investment Balance Sheet 8 Net and Noncorporate Business Worth Annual 1983 1 in NIPA flow, basis Farm 1985 Business 1989 (1) 21.3 23.4 2 3 .9 2 4 .0 23.9 2 3 .3 27.1 -5.3 1.9 7.2 19.6 3.8 1.9 -1.9 - 1 .9 2 5 .8 1 .4 - 2 4 .4 19 .5 4 .5 0 .3 - 4 .2 17.7 6.1 3.6 -2.5 9 14 4 -9 .3 . 0 .3 . 7 2 3 .1 2 3 .1 23.8 1 6 .7 16 .4 1 .8 - 1 4 .5 1 .9 21 .2 3 .3 - 1 7 .9 15.8 8.0 2.2 -5.8 2 3 4 5 -9.5 -9.6 - 2 7 .8 - 2 .2 13.9 11 .8 - 2 .9 - 1 2 .9 -3.1 6 21 .6 22.9 2 3 .3 2 3 .4 23. 0 2 2 .7 2 2 .2 21 .8 21.9 7 -9.3 -9.1 - 2 7 .2 - 1 ..5 14.7 12..5 - 1 .9 - 1 1 ,.5 -1.2 8 2 3 -3 23..3 2 3 ., 4 2 3 .. 4 23.0 23. 0 2 2 .. 7 2 2 ..7 2 2 .2 2 2 .2 21.,8 21 .8 0.2 22. 1 21.9 9 10 11 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 16 17 18 19 9 10 11 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 21.6 21 .6 22.9 22.9 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 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 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 6.5 3. 7 15.1 -12.3 8. 0 1.8 9.7 -3.6 23. 9 1 .5 7. 4 15. 0 - 1 .3 1. 6 5. 1 -8. 0 -4.0 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 -8.4 -36.2 8. 4 -96. 9 -80.7 -46. 7 42. 5 23. 6 19.9 0. 6 0. 5 20 + C h a n g e in t h e v a l u e land h o l d i n g s 21 • Other 22 = Change of revaluations in Memo: 23 Net worth net Flows " 0. 1 " - * 20 21 worth •11.1 -37.3 5. 1 -99. 7 -70.0 -29. 4 55. 9 32. 5 29.1 22 outstanding 177.8 840.5 845. 6 745. 9 675.9 646. 6 702. 5 735. 0 764.0 23 87.2 94.7 CI) 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 . R.103 1 G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m f l o w of f u n d s a c c o u n t s 2 3 4 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 + Proprietors' 7 - Capital 8 = Net investment Balance Sheet net investment consump.allow., NIPA flow, basis 9 10 11 - D e p r e c i a t i o n v a l u a t i o n ad J. Depreciation charges -Cap. consump. allow., NIPA 12 13 14 15 16 17 18 19 63.1 65.2 68.4 73.0 -16.3 4.4 20.6 69.5 -6.4 5.6 12.0 70.4 -5.1 32.8 37.9 88.2 -19.8 48.0 67.7 96 -24 39 63 -37.9 -76.4 -65.0 -82.6 - 8 6 .2 56.7 63.1 65.2 68.4 7 2 .7 37.9 -76.4 -65.0 -82.6 - 8 6 ,.2 » Data are in - 6 1 .7 -17.9 -31.9 8 1 .5 87.2 94.7 77 . 1 - 5 6 .4 64,.9 85. 7 77,.1 9 7 ..8 8 2 ,.7 9 9 ,.5 81 , .5 98..3 47.6 62.2 87.2 101.8 81.6 94.1 93.2 105.7 50.3 41.1 9.3 -.1 64. 2 51. 5 1 1 ..4 1 .3 6 4 ., 9 52.6 1 4 .. 1 - 1 .7 82. 66. 14. 2. 47.6 18.8 26.9 2.0 81.6 67.7 91.3 108. 5 72. 8 43. 6 71.5 76.6 20 0.5 0.4 2 1.0 5. 6 -5.0 -.7 21 33.2 39.4 59.3 8 6 *2 82. 3 70. 2 96.2 127.2 22 1231.0 1270.3 1329.7 1415. 9 1498. 2 1568. 4 1664.6 68.4 68.4 72.. 7 7 2 ,.7 36.1 41.3 65.2 70.4 50.3 70. 0 68.4 88.2 45.7 30.6 14.6 0.4 36. 1 31 . 7 4.7 -.2 51.3 63.4 40.3 0.6 worth 162.9 outstanding 1197.8 billions of * * 7 0 7 0 * 57.9 21.3 2.4 9 10 11 12 13 14 15 16 17 18 19 of revaluations net „ 27.5 38.5 6 4 ..2 8 8 .,4 72. 7 96 .8 109.2 76.9 33.5 -1.3 worth - 5 6 .4 105.7 -11.0 -1.5 93.2 94.7 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 23 N e t 101.8 -14.6 40.6 55.2 * in 8 1 .5 9 8 .3 - 1 6 .8 14 . 1 3 0 .9 * C h a n g e in t h e v a l u e land holdings 1 87.2 87.2 45.7 52.0 63.2 69.5 = Change . 81 , .5 81 , .5 109.2 125.4 56.7 73.0 22 77 9 7 .8 - 2 0 .8 39 . 1 5 9 .8 77 . 1 77,. 1 + R e v a l . of o h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis + Other .8 .2 .8 .9 -17.9 65.2 65.2 21 72 . 7 Business - 6 1 .7 56. 7 56.7 • Noncorporate 56. 7 * 63.2 63.1 20 Nonfarm dollars. * M a r c h 9, F a r m and 1994 Noncorporate Business Farm Factors Annual Accounting for Change in Net and Noncorporate Worth Flows Annual 1990 1991 1992 Farm 1 2 3 .8 23 . 0 22 . 4 22.8 2 3 4 5 1 8 .7 5. 0 3 .4 -1 . 7 1 2 .5 10 .5 3. 0 - 7 .5 17 .3 5. 1 0 .7 - 4 .4 8.7 14.1 -1. 0 -15.1 . -18.8 22.4 6 -2.1 - 9 .4 -5 7 21 .6 21 .4 21 .6 0 . 1 Business (1) Gross farm flow I n v e s t m e n t of b u s i n e s s sector, from of f u n d s a c c o u n t s 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 + Proprietors' 6 - Capital net investment consump.allow., = Net investment Balance Sheet NIPA 7 flow, basis - 7 .9 - 4 .3 -18.4 9 10 11 0 .2 21 .8 21 .6 0. 1 21 .5 21 .4 - .3 21 .3 21 .6 -1.3 21 .1 22.4 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 11 12 13 14 15 3 .8 0 .8 21 .8 18 . 7 3.6 - 5 .4 21 .5 1 2 .5 4 .2 0 .2 21 .3 17 .3 4.5 -7.9 21 . 1 8.7 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 3 .8 3.5 5. 0 -4 . 7 3 .6 3 .7 3 .8 -4 . 0 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 . 20 7 21 1 .3 22 12.1 23 776 . 1 Flows 1993 R.102 a Business y ^ 1 -7 . 1 4 .2 3. 0 1 .8 .6 4.5 4.8 -2.7 2.4 . 18.5 13 • 1 3. 6 - 1 1 .4 764 . 7 1 16..8 7 8 1 .6 C h a n g e in t h e v a l u e land holdings + Other 5.9 of 20 revaluations = Change in Memo: Net worth 787.4 8 net 21 worth 22 outstanding 23 (1) 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 . R.. 1 0 3 N o n f a r m 1 98..9 101 ., 4 104. 5 104.8 2 3 4 5 92. 2 6.. 7 10. 2 3. 5 73. 5 27. 9 -4. 3 -32. 2 73. 8 30. 7 0. 6 -30. 1 85.4 19.4 4.6 -14.8 Noncorporate Business G r o s s i n v e s t m e n t of noncorporate business f r o m f l o w of f u n d s nonfarm sector, accounts 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 6 6 -28. 5 -12. 4 -5. 7 -11.8 + Proprietors' 7 98. 9 101 . 4 104. 5 104.8 - Capital = Net investment Balance Sheet net investment consump.allow., NIPA 7 flow, basis 8 -28. 5 -12. 4 -5. 7 -11.8 9 10 11 -2. 4 96. 5 98. 9 7 100. 8 101 . 4 2 104. 3 104. 5 3.9 108. 7 104.5 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 11 12 13 14 15 65. 8 61 .4 96. 5 92. 2 50. 0 22. 7 100. 8 73. 5 62.3 31 .8 104. 3 73. 8 21.9 -1.4 108.7 85.4 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 65. 8 46. 6 17. 8 1 .3 50. 0 40. 3 10. 4 7 62. 3 53.7 8. 1 0. 5 21 .9 71. 7 -50.6 0.7 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant & equipment Inventories 16 17 18 19 20 -118. 4 -122. 7 -139. 4 -55.2 21 0. 4 2. 5 - 1 .8 22 -78. 4 -81. 9 -84. 5 -48.9 23 1713. 3 1631. 4 1546. 9 1498.0 Data are in billions of dollars. + C h a n g e in t h e v a l u e land h o l d i n g s + Other = revaluations Change Memo: Net worth in net 8 of 20 21 worth outstanding . 8 M a r c h 9, 1 9 9 4 N o n f i n a n e ial C o r p o r a t e Annual Flows Business Nonfinancial Factors 74 Accounting for Change 1946 1947 R.104 Nonfarm G r o s s i n v e s t m e n t of n o n f i n a n c i a l corporate business sector, f r o m f l o w of f u n d s 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 N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 7 + Corporate equit, - M i n . r i g h t s f - a i* ^ , 8 9 - C a p i t a l cor.. - Inventory va ^ , a * : : w., NIPA adj. = N e t i 1 v? : * -r. 10 Bala-- " •- * Business' 17.2 16.0 21 .3 21.4 21.6 1 14.9 2.2 3.5 1.3 24.0 -8.0 16.3 24.4 30.6 -9.2 7.3 16.6 25.3 -3.9 4.5 8.4 26.1 -4.5 2.2 6.8 2 3 4 5 1 . 1 1.0 1.2 1.3 2.1 2.3 1.8 6 7 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 8 9 8.3 5.3 10.2 10.8 7.9 8.5 7.3 7 . 4 10.4 9 . 0 9 . 0 10.4 10.4 11.2 11.2 12.0 12.0 13.8 13.8 14.8 14.8 15.8 15.8 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 1.2 10.2 -1 . 0 9.4 1.7 9.2 -.2 3.7 -.4 4.0 0.1 1.8 -.1 2.1 -.2 18 19 20 21 18 14.2 -.3 13.6 0 . 9 13.3 .2 13.9 .4 7.6 -.3 6.8 1 . 2 asset 1 0 11 12 13 7.6 20.1 10.4 22.9 of 1953 15.6 13.3 28.3 9.0 24.0 type 1952 20.7 -5.2 4.9 10.1 14.2 30.9 7.3 24. 0 by 1951 Business 12.4 5.9 Nonres. plant S equipment I n v e n t o r i e s CI) 1950 Corporate 18.1 -5.7 8.3 14.0 14 + R e v a l . of p h y s i c a l a s s e t s 15 C h a n g e in v a l u e 16 Depreciation charges 17 -Gross purchases (1) Revaluation 1949 6.9 7.4 -5.3 * • , ca s s 1948 Nonfinancial Flows 18.8 -11.8 -1.4 10.5 1 . 0 aovt. 11 - D e p r e c i a t i o n v a l u a t i o n a d j . 12 Depreciation charges 13 - C a p . c o n s u m p . a l l o w . , NIPA 20 21 Corporate Worth Annual 1945 1 in N e t 2.8 -1.5 9.0 + C h a n g e in the v a l u e land h o l d i n g s of 22 8.0 7.4 0.7 0.7 4.4 4.2 1.3 1.9 22 23 24 25 + R e v a l . of f g n . d i r . C h a n g e in v a l u e -Direct investment invest. -.2 (2) 0.2 0.4 1 . 1 0.7 0.5 1 . 2 0.7 0.4 1 . 0 0.6 0.5 1 . 1 0.6 0.7 1. 1 0.5 0.9 1.7 0.8 0.8 1.5 0.7 23 24 25 26 27 28 - R e v a l . of d i r . inv. C h a n g e in v a l u e -Direct investment in U . S . 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 29 + Other 30 = Change 31 N e t revaluations Tangibles 33 34 35 36 0.1 0.2 0.4 0.4 0.3 0.3 0.1 worth 28.0 31.6 17.5 8.0 25.2 24.8 13.7 12.7 30 outstanding 163.7 195.3 212.8 2 2 0 .8 246.0 270. 7 284.5 297.2 31 5.9 10.4 8.3 5.3 10.2 10.8 7.9 8.5 32 -.2 18.5 5.3 24.0 0.5 18.8 5.7 24.0 1 . 1 17.4 6.5 22.9 1.6 7.4 7.3 13.1 0.5 21.4 8.1 29.0 1 . 0 23.7 9.0 31.8 0 . 7 15. 0 9.9 24.3 0.3 16.4 11.0 27.1 33 34 35 36 in worth 32 = N e t • (2) net and net investment worth on h I s t o r ical cost flow + 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 a s s e t s (3) C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) • 37 C h a n g e in the v a l u e land h o l d i n g s * Reval. of fgn. dir. invest. 42 - Reval. of dir. inv. in 43 + Other Memo: 45 Net w o r t h are in 0.4 1.3 -2.1 5.3 7.4 -3.2 5.7 9.0 - . 4 -3.9 6.5 10.4 -.3 0.2 0.2 0.1 0.2 37 -3.9 7.3 11.2 -3.9 8.1 12.0 -4.9 9.0 13.8 -4.9 9.9 14.8 -4.9 11.0 15.8 38 39 40 41 0.4 0.5 0.4 0.5 0.7 0.9 0.8 " 0.1 0.1 0.1 0.4 0.2 0.1 0.2 42 0.2 0.2 0.5 0.4 0.3 0.2 0.1 -. 6 43 worth 8.0 15.9 13.7 11.2 15.3 17.6 14.3 13.9 44 outstanding 106.0 121.9 135.6 146.9 162.1 179.7 194.0 207.9 45 in net (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 c a p i t a l g a i n s . (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 c e r t a i n i t e m s in B E A c a p i t a l a c c o u n t s f r o m the M I PA a c c o u n t s in t h e 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 i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data basis: -.2 U.S. revaluations 44 = Change 29 of 38 - D e p r e c i a t i o n v a l u a t i o n a d j . 39 Depreciation charges 40 -Cap. consump. allow., NIPA 41 - . 1 billions of dollars. M a r c h 9, 1994 Nonflnancial Corporate Nonflnancial Business Factors Annual Accounting for Change In N e t Corporate Worth Business 75 Annual Flows 1954 R.104 1958 1959 Nonflnancial Corporate 1957 1956 1955 Nonfarm 1960 1961 Flows 1962 Bus iness 1 22. 2 25. 7 24. 7 27.4 26.4 31. 6 27.5 31.9 36.3 G r o s s i n v e s t m e n t of n o n f l n a n c i a l corporate business sector, f r o m f l o w of f u n d s a c c o u n t s 2 3 4 5 23. 0 8 4. 8 5. 6 32. 6 -6. 9 16. 4 23. 4 37. 0 -12. 3 3. 9 16. 2 35.7 -8.3 4.1 12.4 28.0 -1.6 10.7 12.3 37. 8 - 6 •1 14. 1 20. 2 37.7 -10.2 3.8 14.0 36.5 -4.6 14.1 18.7 42.2 -5.9 12.3 18.2 Capital expenditures Net financial investment N e t a c q . of f l n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 7 1. 6 1. 7 2. 3 2.4 2.0 2. 1 1.4 - 2.1 ~ 0.4 - 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 26.8 10 7. 3 11. 4 9. 6 9.4 5.6 9. 9 4.0 8.0 9.9 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 26.8 14 15 16 17 1. 5 8. I 16. 7 23. 3 10. 5 27. 1 17. 8 34. 4 16. 35. 20. 39. 0 7 0 7 6.6 21.8 22.0 37.2 1.2 6.5 23.0 28.3 4. 18. 24. 38. 0 0 1 1 -1.5 11.3 25.1 37.9 -.4 10.1 25.8 36.2 1.0 16.5 26.7 42.2 18 19 20 21 1. 5 6 1.8 0.,3 10. 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 -.4 0.1 -1.1 0.7 1. 0 0.1 0.6 0.3 22 0.. 1 4,.7 7. 1 3.9 2.0 0. 5 2.0 3.6 2.9 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 0.2 2.7 2.5 -.3 2.4 2.7 • 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 0.3 0.3 0.3 0.3 * 23 24 25 . 26 27 28 * - * * - - » * 0.3 2 9.8 15. 0 3.6 11.1 13.6 3 6 8 .,4 388.9 398.7 413. 8 417.4 428.5 442.1 Tangibles and 11..4 9..6 9.4 5.6 9. 9 4.0 .5 10..7 1 2 .1 2 3 .3 - 1 ..3 19..9 13,.1 34..4 6 24. a 14. 3 39. 7 -1 . 0 20.6 15.6 37.2 -1.2 10.3 16.8 28.3 0. 5 20. 7 17. 8 38. 1 0.1 18.9 19.0 37.9 37 0,.2 0,.4 0..4 0.3 0.6 0. 4 0.4 1.1 0.9 38 39 40 - 4 .. 7 12.. 1 16,.7 - 4 ..7 13.. 1 17..8 - 5 ,.7 14. 3 2 0 ..0 -6.4 15.6 22.0 -6.3 16.8 23.0 -6. 3 17. a 24. i -6.1 19.0 25.1 -5.6 20.2 25.8 41 0..7 0 .9 1,.2 0.4 0.8 1. 0 -.9 0.2 0.1 0.2 0. 2 " " 2.2 0..2 0.2 14.0 18. 1 9.8 16.4 16.6 0..1 0. 3 30 9 .7 27..6 31 3 0 6 .8 3 3 4 ..4 32 7 .3 33 34 35 36 0.,2 42 43 .2 44 12,.0 2 1 9 ..9 45 0. 2 3 4 ., 0 0..2 0..2 1,.1 0..3 17.. 0 2 3 6 .8 16..4 2 5 3 ..2 15.5 268.7 282.7 300. 9 " 310.7 -.2 " net 8.0 9.9 1 . 0 17.0 20.2 36.2 0.5 21.3 21 .5 42.2 Corporate equity Min. rights from issues U.S. govt. - Capital consump.allow., NIPA - Inventory valuation adj. = Net investment Balance Sheet - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA flow, basis + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment I n v e n t o r i e s CI) + C h a n g e in t h e v a l u e land h o l d i n g s + 0.3 20.6 29 * - R e v a l . of f g n . d i r . C h a n g e In v a l u e -Direct investment R e v a l . of d i r . i n v . C h a n g e in v a l u e -Direct investment Other in Memo: Net worth = Net on Invest. (2) in U.S. (2) revaluations = Change worth of net worth outstanding historical investment cost basis: flow + 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 a s s e t s (3) C h a n g e in v a l u e 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 t h e v a l u e land holdings -5.3 21.5 26.8 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 38 39 -.3 • Reval. of fgn. dir. Invest. 41 " " - Reval. of dir. inv. in 42 0.6 0.2 • Other 327.1 343.7 of U.S. revaluations = Change Memo: Net worth in net worth outstanding (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 c a p i t a l 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 o f c e r t a i n i t e m s in B E A c a p i t a l a c c o u n t s f r o m t h e N I P A a c c o u n t s in t h e c a l c u l a t i o n of historical-cost investment flows; also r e f l e c t s 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 t r a n s f e r s of a s s e t s . Data are in billions of dollars. 43 44 M a r c h 9, 1 9 9 4 Nonfinancial Corporate Factors 76 Annual Nonfinanclal Business Accounting G r o s s I n v e s t m e n t of corporate business f r o m f l o w of f u n d s 1 nonflhanclal sector, accounts Capital expenditures Net financial investment N e t a c q . of f l n a n . a s s e t s - N e t i h c r . in l i a b i l i t i e s 6 7 • Corporate equity - Min. rights from 8 9 - Capital consump.allow., NIPA - Inventory valuation adj. = Net investment Balance Sheet issues U.S. govt. flow, basis 11 12 13 - 14 15 16 17 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) Depreciation valuation adj. Depreciation charges -tap. consump. allow., NIPA R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & 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 t h e v a l u e land h o l d i n g s 23 24 25 • 26 27 28 - R e v a l . of dir. inv. C h a n g e in v a l u e -Direct Investment 29 • R i v a l , of f 9 n . d i r . C h a n g e in v a l u e -Direct investment Other Business > 1964 1965 (2) in U.S. (2) 1967 NonfInanclal 1968 Corporate 1969 1970 1971 Business 37.3 41. 2 47. 7 54.2 55.7 58.4 60.4 56.7 68.6 44.4 -7.1 15.5 22.6 49. 8 -8. 7 14. 7 23. 3 60. 8 -13. 2 21. 6 34. 8 74.5 -20.3 16.5 36.8 71.2 -15.4 16.2 31.6 76.8 -18.5 30.5 49.0 85.5 -25.0 31.3 56.3 82.0 -25.3 18.3 43.5 88.2 -19.6 36.1 55.7 -.3 1. 1 1.3 2.4 -.2 1.3 3.4 5.7 0.3 11.4 0.7 6 7 - * 1 2 . 3 4 5 S 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 8 9 9.0 13. 4 17. 6 23.5 22.4 19.4 24.6 19.3 29.7 10 * 27.9 27.9 * 29. 3 29. 3 2.1 18.5 27.9 44.3 5. 25. 29. 50. * * * * * * 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 11 12 13 7. 38. 31. 62. 4 1 3 1 15.0 57.5 34.1 76.6 12.5 47.9 37.3 72.7 25.0 63. 1 41 . 1 79.2 26.1 72.4 45.0 91.3 28.7 67.5 49.4 88.2 34.3 72.1 54.2 92.1 14 15 16 17 0.7 1.4 5. 0 0. 2 3 6 1. 2 7. 4 0. 1 6. 9 0. 3 15.0 0.4 12.3 2.3 12.5 0.3 12.4 -.2 25.0 0.8 22.4 1.9 26.1 0.6 22.8 2.6 28.7 0.4 29.9 -1.6 34.3 1.0 33.0 0.3 18 19 20 21 3.1 4. 6 6. 4 6.4 6.8 10.0 16.0 14.7 16.5 22 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 * 0.8 0.8 -.1 1 .1 1.2 1.4 1.4 0.1 0.4 0.3 26 27 28 2.1 of invest. 1966 Nonfarm Flows 0 9 3 3 * 3.3 3.3 3..6 3 .6 5. 9 10. 5 4. 6 -1.8 2.8 4.6 * 0. 2 0.2 0 .3 0..3 0..4 0. 5 0.4 0.4 0.1 0.6 0.7 " 0 .2 0.1 0.8 -.1 -.1 0.8 29 43.4 57.9 70.1 66.3 86.7 30 revaluations * . * worth 14.2 2 3 .2 3 7 .2 Memo: Net worth outstanding 456.3 4 7 9 .5 5 1 6 ..8 559.8 603.2 661.1 731.2 797.5 884.2 31 Tangibles and 1 3 .4 17 .6 23.5 22.4 19.4 24.6 19.3 29.7 32 1 .1 27 . 1 2 4 .3 5 0 .3 0 36 26 62 0.5 48.7 28.4 76.6 0.9 42.8 30.9 72.7 45.8 33.4 79.2 0.1 55.0 36.3 91.3 -.9 47.9 39.4 88.2 -2.7 46.9 42.5 92.1 33 34 35 36 = Change 31 = Net • 33 34 35 36 • 37 38 39 40 Corporate Worth 43.0 30 32 in N e t Annual R.104 10 Change Flows 1963 2 3 4 5 for in net net investment worth on historical 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 a s s e t s (3) C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s CI) C h a n g e in t h e v a l u e land h o l d i n g s 1.4 22.9 22.8 44.3 1.2 41 » Reval. of fgn. dir. Invest. 42 - Reval. df dir. inv. in 43 + Other 44 = Change -5.1 22.8 27.9 " U.S. are in 1. 1 - 5 .0 2 4 .3 2 9 .3 " .7 .6 .2 . 1 2. 0 2.0 1.9 -5 . 1 26 . 2 31 3 -5.7 28.4 34.1 -6.4 30.9 37.3 5 .9 -1.8 " * 1.1 -7.8 33.4 41 . 1 3.0 3.1 1.6 37 -8.7 36.3 45.0 -9.9 39.4 49.4 -11.8 42.5 54.2 38 39 40 1.8 2.8 3.4 3.7 5.6 41 0.1 " -. 1 " 0.1 42 " " 0.5 - .2 4 .0 0.3 -1.0 2.4 5.0 -2.5 -1.0 43 worth 17.1 2 0 .4 3 5 .3 30.2 32.3 33.3 44.8 32.6 44.9 44 outstanding 36 0 . 8 5 8 1 .2 4 1 6 .5 446.7 479.0 512.3 557.1 589.8 634.7 45 revaluations in net (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 c a p i t a l g a i n s . C 3 ) E f f e c t o f d i f f e r e n t t r e a t m e n t of c e r t a i n i t e m s in B E A c a p i t a l a c c o u n t s f r o m t h e N I P A a c c o u n t s in t h e c a l c u l a t i o n of historical-cost investment flows; also r e f l e c t s 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 t r a n s f e r s of a s s e t s . Data basis of - D e p r e c i a t i o n v a l u a t i o n adj^ Depreciation charges -Cap. consump. allow., NIPA Memo: 45 Net worth cost 9.0 flow billions of dollars. March 9, 1994 Nonfinanclal Corporate Nonfinanclal Business Factors Annual Accounting for Change in N e t Annual 1974 R.1Q4 1975 Nonfarm 95. 5 1976 1977 N o n f i n a n e ial Corporate 1 4 0 ..3 1 4 8 ..4 117. 7. 39. 32. 5 4 7 4 1 5 9 .. 0 - 1 8 ..7 5 1 ,.7 70,.3 185. 5 - 3 7 ..1 60..3 97..4 2 2 3 .,1 - 3 0 .,1 1 0 5 ..7 135. 7 9. 9 1. 3 10,.5 4.. 0 2..7 2..5 77. 7 6 7 .,8 1 0 0 .,4 22 7 49. 4 72..0 125. 2 -57. 5 6 9 ..8 1 2 7 .3 6 7 10..9 0..9 7 .9 3 .2 8 9 6 0 .5 - 6 .6 6 5 .6 -20 . 1 76 .8 3 9 .5 92. 2 . 0 -11 , 10 33. 9 26.9 55. 8 52.2 11 12 13 60. 5 60. 5 65.6 65.6 76, 8 76..8 92.2 92.2 14 15 16 17 46. 4 92. 0 60. 5 106. 1 67.2 143.7 65.6 142.1 1 4 3 ,.8 2 4 3 ,.6 76,.8 1 7 6 ,.6 18 19 20 21 *46. 4 1.5 43. 6 1.3 67.2 1.3 58.1 7.8 1 4 3 .8 1,.4 1 2 6 ,. 0 16,.4 19. 3 29. 8 23 24 25 19. 5 24..5 5.,0 26 ,3 0.,6 0. 9 143. -48. 51. 99. 7 2 3 5 4..1 6.,5 0.. 1 29 119..4 30 .1 2. , 0 3 235 2 4 5 ,.6 - 1 0 ,.4 1 2 7 .6 138,.0 - 7 .8 4,.7 2 0 2 ..8 10..4 5..0 1 1 4 ,.8 - 1 6 ,.7 1 3 1 ..1 - 2 5 ..1 151 .6 - 4 1 ,.6 173, 2 - 4 3 ,. 0 5 9 .3 50. 5 8 4 ,.9 1 1 2 ,.7 78., 0 1 0 2 .5 1 0 2 .5 114. 8 114. 8 .3 130..8 1 3 1 ,. 1 .4 1 5 1 !.1 151, 6 106.2 141.2 92.2 127.2 76 .8 1 4 4 .2 1 0 2 .5 170 . 0 99. 7 184. 6 114. 8 199. 7 1 3 6 ..4 2 5 1 ..8 130..8 2 4 6 ,. 1 106.2 1.1 101.8 3.3 76 .8 1 .4 6 8 .7 6 .7 99. 7 2. 4 91 . 1 6. 2 35.,9 29. 4 29. 5 8. 9 18..1 9. 2 12..0 19.,8 7,.8 10. 6 23. 2 12.,6 2..7 5..2 2,.5 .1 4,.5 4,.6 .1 z\ . 1 2. 2 G r o s s i n v e s t m e n t of n o n f I n a n c l a l corporate business sector, f r o m f l o w of f u n d s a c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 5 5 .,8 - 5 3 ..0 8 2 .. 1 1 3 5 ..0 1 0 2 .5 - 1 4 ,.9 + Corporate equity - Min. rights from - Capital consump.allow., NIPA - Inventory valuation adj. Net investment Balance Sheet ,4 1 7 2 ,.8 1 7 3 ..2 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 1 8 9 .,3 3 2 0 ..6 1 5 1 .. 1 2 8 2 ,.5 2 3 1 ..8 3 5 2 ,.9 1 7 2 ,.8 2 9 3 ,.8 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) 136..4 2 .7 1 2 0 ,. 0 13,.7 1 8 9 ,.3 3,. 0 1 4 7 ,.8 38,.4 2 3 1 ..8 3,.0 193..8 35,. 0 36.6 46. 6 57. 9 6 1 ..9 10,.0 19,.9 9,.8 30.8 40.0 9.2 2 2 .,4 36. 5 14..1 27.,6 52. 2 24,.6 16,.9 20..4 3..5 4.0 7.2 3.2 5., 0 12., 0 7.. 0 6..9 15..9 9..1 * 10,.1 30,.7 - 1 .,7 2 .8 -1.8 140..2 2 7 8 ,.3 1 9 6 ..8 161 .5 211.8 0.. 1 2 8 5 ..7 0..8 3 8 1 ..8 Tangibles 112.7 3.9 107.7 6.8 106.1 0.7 92.6 50.2 142.1 8.3 129.8 55.1 176.6 5.8 72.6 60.4 127.2 170.0 133.0 73.5 199.7 37 2..4 4. 6 2..9 1.5 2 4 2..2 38 39 40 - 1 4 ..2 46. 3 60. 5 - 1 5 ..4 50. 2 65..6 -31.9 60.4 92.2 - 3 6 ..4 66..1 1 0 2 ,.5 -41 , .4 73,.5 114..8 41 19. 5 8..9 12..0 10.6 42 -. 3 2,.7 - ..1 -.1 9. 5 43 79. 3 44 13..7 67..5 - 2 1 .7 5 5 .. 1 76. 8 66.1 + C h a n g e in t h e v a l u e land h o l d i n g s of 30. 9 5 3 .,1 22..2 * R e v a l . of f g n . d i r . C h a n g e in v a l u e -Direct investment invest. 17,.6 30..8 13..2 - R e v a l . of d i r . i n v . C h a n g e in v a l u e -Direct investment in 3.. 1 3 8 8 ,.6 + Other 10,. 0 16,,9 and net 78.0 82. 246. 3. 9 14.7 203.0 94.2 282.5 12.9 200.1 = Net 4. 2 4. 6 106.6 293.8 -66 6 106, 6 173. 2 in worth worth on net (2) U.S. (2) are In billions of outstanding historical Investment cost 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 a s s e t s (3) C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) 33 34 35 36 of 37 D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. allow., NIPA 38 39 40 - 4 8 ..2 8 2 ..8 1 3 1 .. 1 - 5 7 ..4 9 4 .. 2 1 5 1 ..6 30..8 22..4 27..6 30..9 + Reval. of fgn. dir. invest. 41 4 .0 5 .0 6,.9 17,.6 - Reval. of dir. inv. in 42 13..6 - 9 ,.5 + Other 2 2 3 ..3 1 6 5 .8 1595.7 1761.5 24. 6 -12.5 - 4 ..7 - 5 ..8 1,.6 1 2 5 ..4 89.6 90,.5 121 • .8 1 6 3 ,.8 dollars. 26 27 28 30 U.S. revaluations = Change Memo: Net worth in net 43 worth 44 outstanding 45 (1) Before inventory valuation adjustment. (2) E x c l u d e s c a p i t a l g a i n s . (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 c e r t a i n i t e m s in B E A c a p i t a l a c c o u n t s f r o m t h e N I P A a c c o u n t s in t h e c a l c u l a t i o n o f historical-cost investment flows; also r e f l e c t s 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 t r a n s f e r s of a s s e t s . Data 23 24 25 29 worth + C h a n g e in t h e v a l u e land h o l d i n g s - 22 revaluations = Change • 7, 171, flow, basis R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant & equipment I n v e n t o r i e s (1) Net -.4 59.4 46.3 issues U.S. govt. = * 28 1980 1978 124. 9 1 Flows Business 1 9 3 ., 0 2 3 4 5 27 Business 77 Flows 1972 33 34 35 36 Corporate Worth M a r c h 9, 1994 Nonfinancial Corporate Factors 78 Annual NonfInancial Business Accounting for Change 1983 1984 10 1985 N o n f inane ial 1986 Corporate 269.6 266.6 269. 0 350. 6 331. 4 508. 1 525.5 551.5 561. 0 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 285.3 -18.8 64.6 83.3 300. 1 -31. 1 116. 4 147. 5 398. 5 -47. 9 116. 8 164. 7 374. 9 -43. 4 91. 0 134. 4 551. 9 -45. 7 1 5 1 .5 195. 2 565.0 -59.7 124.9 164.6 594.4 -42.8 163.8 206.6 405. 8 -42.8 119. 8 162. 6 2 3 4 5 -13.5 4.8 1.9 7.8 20. 0 7. 8 -79. 0 7. 9 -84. 5 4. 4 -85. 0 7. 2 -75.5 2.9 -129.5 5.5 -124. 2 2. 4 6 205.3 -25.7 227.5 -10.0 240. 1 -8. 5 246. 1 - 4. 1 256. 0 0. 5 269. 2 9. 8 279.2 -14.5 295.1 -27.5 514. 8 -17. 5 8 9 71.7 43.1 49. 5 21. 7 -13. 7 -65. 0 -17.9 -49.1 -62. 9 10 -7. 0 233. 1 240. 1 -3. 2 242. 9 2 4 6 .1 256. 0 256. 0 269. 2 269. 2 M 279.1 279.2 * 295.1 295.1 - 1 .8 515. 0 514. 8 11 12 15 30. 144. 256. 570. 4 7 .8 113. 5 269. 2 334. 9 68.4 165.7 279.1 3 7 6 .5 121.4 244.7 295.1 418.4 105. 0 210. 9 313. 0 418.9 14 15 16 17 47. 8 1 , . 0 55. a - 9 ., 0 68.4 1.5 53.6 15.2 121.4 -.6 110.1 11.9 105. 0 0. 9 98. 9 5. 2 18 19 20 21 3 5 ..6 38.3 60.6 64. 0 22 - 1 .6 17. 5 19., 1 25 24 25 -8. 6 53. 2 61 .8 26 27 28 - 1 .9 , 29 115.. 1 30 • Corporate equity - Min. rights from issues U.S. govt. - Capital consump.allow., NIPA - I n v e n t o r y v a l u a t i o n ad J. = Net investment Balance Sheet flow, basis * 11 12 13 - D e p r e c i a t i o n valuation adj. Depreciation charges -Cap. consump. a l l o w . N I P A -2.8 202.5 205.3 14 15 16 17 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) 201.3 332.6 202.5 333.8 75.9 136.6 226.8 287.5 12. 7 80. 3 233. 1 300. 8 41 . 7 193.5 242. 9 394. 7 201.3 2.1 184.9 14.3 75.9 1.2 84.5 - 9.8 12. 7 1. 0 18. 9 -7. 2 41 . 7 1 .0 36. 6 4.,1 30. 5 1. 1 59. 5 -10. 2 63.2 49.3 38. 9 42. 5 38. 9 18 19 20 21 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment I n v e n t o r i e s (1) + C h a n g e in t h e v a l u e land holdings 23 24 25 + R e v a l . of f g n . d i r . C h a n g e in v a l u e -Direct investment 26 27 28 - 29 • Other invest (2) in U.S (2) revaluations 2.1 7.8 5.8 -2. 9 5..0 8..0 2 .2 2 0 ,-9 18..7 - 2 .,1 16..7 18. 8 6 .5 59..5 5 2 .9 11.8 64. 1 52.5 1.5 70.8 69.4 - 2 2 .7 3 .8 -4, 5 2 .6 -51.1 11.8 9.4 30.0 20.6 4.9 13.0 8.1 6.1 3.S outstanding 3391.1 3539.0 3 6 0 7 .5 Tangibles and = Net + in net net investment worth on 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 a s s e t s (3) C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) + C h a n g e in t h e v a l u e land h o l d i n g s 43.1 5.8 219.0 120.6 333.8 -16.9 134.9 135.7 287.5 are in 3 7 8 3 .5 3866.9 4012.4 4 1 2 5 .4 31 4 9 .5 -12 137 150 300 .7 .9 .2 .8 3 .7 21 . 7 -17.9 -49.1 - 6 2 .9 32 -7 222 165 394 .2 .2 .3 . 7 -6.8 157.9 211.7 576.5 -15.2 178.6 224.5 418.4 -5 174 258 418 .5 .6 .8 .9 35 54 35 56 - 1 3 .7 -65 . 0 -8 179 182 570 -11 125 198 554 .2 .5 .6 .3 7.8 9.1 4 .1 57 -70.6 224.5 295.1 - 7 6 .0 2 5 8 .8 5 1 4 .8 58 39 40 13.6 57.6 2. 1 - 1 .6 41 6 .5 11.8 1.5 - 8 .6 42 - 6 .9 11 .9 -28.0 28.2 - 2 1 .6 45 64 . 0 67 .2 2 0 .5 48.2 44.2 - 2 .9 44 2212 . 1 2 2 7 9 .5 2 2 9 9 .8 2548.0 2392.2 2 5 8 9 .3 45 9. 0 -84.7 120.6 205.3 invest. 7.1 -19.8 - 1 9 .9 -20 . 1 11 .3 in 9.4 4.9 - 2 .9 2 .2 - 2 .1 -1.1 17.2 - 8 .3 - 1 2 .8 worth 166.3 115.1 1 0 5 .2 outstanding 1927.8 2042.9 2 1 4 8 .1 fgn. dir. dir. inv. U.S. revaluations in net billions of dollars. .0 .5 .4 .9 -67.4 211.7 279.2 3 .9 - 8 0 .8 1 6 5 .3 2 4 6 .1 of 3 7 5 5 ,.3 -90 . 0 1 5 0 .2 2 4 0 .1 (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 c a p i t a l g a i n s . (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 c e r t a i n i t e m s in B E A c a p i t a l a c c o u n t s f r o m t h e N I P A a c c o u n t s in t h e c a l c u l a t i o n o f historical-cost investment flows; also r e f l e c t s 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 t r a n s f e r s of a s s e t s . Data 83.4 4.5 of = Change 2 8 .5 -91.8 135.7 227.5 + Reval. Memo: 45 Net worth 3 6 9 0 .6 6 4 ..7 145.4 7.5 41 + Other 71.7 of - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA - Reval. 83 . 1 1 h i s t o r i c a l , ccoosstt bbaassiiss : flow 38 39 40 44 37.6 59.5 21.9 Memo: Net worth 33 34 35 36 43 15.,6 2 5 .,7 12..1 -19. 9 -11. 8 8. 2 6 8 .5 31 42 11 . 3 2 0 ., 1 8 .,7 -19.8 -9.0 10.8 147.9 Change 5 7 0 3 - 2 0 ., 1 -8. 2 12., 0 7.1 18.6 11.5 342.8 = 37 R e v a l . of d i r . i n v . C h a n g e in v a l u e -Direct investment of worth 30 32 1987 Business 313.0 -43.4 108.4 151.8 -.7 226.8 227.5 22 Flows G r o s s i n v e s t m e n t of n o n f i n a n e i a l corporate business sector, f r o m f l o w of f u n d s a c c o u n t s 2 3 4 5 8 9 Business Annual R.104 Nonfarm 6 7 Corporate Worth Flows 1982 1 in N e t - 7 5 .4 1 8 2 .6 2 5 6 .0 4 .6 - 7 0 .9 198 . 4 2 6 9 .2 M a r c h 9, 1 9 9 4 Nonfinancial Corporate Business Nonfinancial Factors Annual Accounting for Change in N e t Corporate Worth Business 79 Flows Annual 1990 1992 R.104 1993 Nonfarm Nonfinancial 1 3 8 8 ..6 4 1 5 ..8 4 1 3 .3 4 4 1 ..8 2 3 4 5 4 0 7 .3 - 1 8 ..7 94..7 113..4 381 34 69 35 397 16 140 124 454. -12. 91. 104. 6 7 -63 . 0 3 .5 18..3 2 .8 8 9 3 2 6 .6 - 1 1 .. 0 3 3 8 .6 5. 0 .6 .2 .6 .4 .2 . 0 .6 .5 27 . 0 2 .6 Corporate Business G r o s s i n v e s t m e n t of n o n f i n a n c i a l corporate business sector, f r o m f l o w of f u n d s a c c o u n t s 6 8 7 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . - N e t i n c r . in l i a b i l i t i e s 2 3 ., 0 2. 7 * Corporate equity - Min. rights from issues U . Si. g o v t . 3 4 9 .5 - 5 .3 358. 6 -7. 2 - Capital consump.allow., NIPA - I n v e n t o r y v a l u a t i o n ad j. 93..5 110. 8 = Net Investment Balance Sheet flow, basis 10 6..6 11 12 13 - 2 ..7 3 2 3 ..9 3 2 6 ..6 ,7 -1 , 336 . .9 3 3 8 .. 6 - 1 .6 . 3 4 7 ..9 3 4 9 ..5 0. 1 358. 7 358. 6 - 14 15 16 17 8 8 ..9 179 . 9 3 2 3 .. 9 4 1 4 ..9 18..7 55 . 7 3 3 6 .9 3 7 3 .. 9 18.8 70..8 347 , . 9 4 0 0 .. 3 - 2 1 .2 7 9 .3 358. 7 459. 1 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) 18 19 20 21 88.9 0..8 73..8 14..3 18..7 0..5 26 . 9 - 8 ..8 18..8 0 .5 . 15 . 1 3.. 1 - 2 1 .2 7 -27. 5 7. 2 22 -184 8 8 7 ..8 -319. 5 - 3 1 6 ..6 - 2 1 .0 D e p r e c i a t i o n v a l u a t i on a d j . Depreciation charges -Cap. consump. allow., NIPA + C h a n g e in t h e v a l u e land h o l d i n g s 31 ..7 56. 8 25.. 1 1 ,3 . 27. 6 26. 3 - 2 7 ..3 1 .9 29. 2 -8. 5 30. 1 38. 6 + R e v a l . of f g n . d i r . C h a n g e in v a l u e -Direct investment 26 27 28 -10. 9 4 5 .. 1 5 6 .. 0 -5. 6 6. 6 12. 2 10. 3 15. 6 5. 3 5. 4 3. 3 -2. 0 - R e v a l . of d i r . i n v . C h a n g e in v a l u e -Direct investment 4., 0 7.. 1 0. 9 14 15 16 17 R e v a l u a t i o n b y t y p e of a s s e t Residential struct ures Nonres. plant S equipment I n v e n t o r i e s (1) 23 24 25 29 Flows 0. 6 + Other of (2) in U.S. (2) revaluations 30 - 3 6 ..9 - 2 0 0 .4 - 2 3 9 .. 4 31 4088.5 3888. 1 3648. 7 3703. 8 32 6. 6 87. 8 93. 5 110. 8 = 33 34 35 36 -13. 0 153.2 248.6 414.9 85. 0 199.3 259.7 373.9 38. 8 169.3 269 . 0 400.0 -27. 1 153.7 278.3 459.1 + Valuation adjustment p h y s i c a l a s s e t s (3) C h a n g e in v a l u e Depreciation charges - G r o s s p u r c h a s e s (1) 4..3 4,.8 -2. 9 - 1 0 ..5 + C h a n g e in t h e v a l u e land h o l d i n g s -80. 5 269. 0 3 4 9 .5 - 8 0 ..3 2 7 8 ..3 3 5 8 ..6 - D e p r e c lat i o n v a l u a t i o n a d j . Depr eciation charges -Cap . consump. allow., NIPA 38 39 40 -27. 3 - 8 ..5 + Reval. of fgn. dir. invest. 61 10. 3 5.,4 - Reval. of dir. inv. in 4.. 1 + Other 55. 1 = - 7 8 .. 0 248. 6 326. 6 41 31.. 7 42 - 1 0 ..9 43 2. 8 44 121 2 - 7 8 ..9 2 5 9 .. 7 338. 6 1 ,3 . - 5 .. 6 -79, 7 -55. 0 183. 7 117. 4 1 4 3 ..6 in Memo: Net worth Tangibles 38 39 40 Change and net worth = on Net wortn outstanding historical investment cos t basis: flow of 37 U.S. revaluations Change Net net worth in net worth outstanding (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 c a p i t a l g a i n s . ( 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 c e r t a i n i t e m s in 3 E A c a p i t a l a c c o u n t s f r o m t h e NI P A 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 i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in billions of dollars. 42 43 44 M a r c h 9, 1 9 9 4 Private Financial Factors 80 Annual Private Institutions Accounting for 1 G r o s s I n v e s t m e n t of p r i v a t e financial institutions, from f l o w of f u n d s a c c o u n t s 2 3 4 5 Capital expenditures Met financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in 1 l a b i l i t i e s 6 + Corporate 7 - Capital equity 19&6 con s u m p . Net investment Balance Sheet - R e v a l . of l i f e i n s u r . a n d p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net claims issued 5 6 7 8 + R e v a l . of r e o r o d u c i b l e a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis C h a n g e in t h e v a l u e land h o l d i n g s 23 24 25 1947 1948 Private 1. 0 1949 Financial • Other 27 = Change 1 . 3 1951 1952 28 Net worth are in net held worth outstanding billions 1953 1 .2 2.1 0.9 1.8 0.4 0.4 0.5 0 . 4 1 .4 27.8 26 .4 2.3 0.6 10.5 9.5 0.3 0.9 13.3 12.4 1.8 21.1 19.3 20.6 20.1 0.4 0.2 0.3 0.4 0.4 0.3 0.6 0.2 0.2 0.3 0.3 0.3 0.4 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 -.1 0.1 0.2 1 .2 1.6 0.3 0.3 0 . 2 -.2 0.1 I 0.5 0.5 -.2 0.2 0.1 0 . 1 0.2 0.3 0 . 1 0.3 0.3 0.3 0.7 12.6 11.9 0.3 1950 1.0 Flows 1.7 23.5 21.8 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.4 oc 9 10 11 12 0.4 13 14 15 16 17 18 0.3 0.4 0.3 0.4 0.1 0.2 0.3 0.4 0.3 0.4 0.6 0 . 1 1.0 0.9 0.4 1.8 1.4 -.4 1 .3 1 . 7 of revaluations in Institutions . Institutions -.1 0.2 0.3 -.1 0.6 0.7 -.1 1 .6 0 . 4 0.4 2.7 1 . 1 0 . 4 1 .6 1.2 R e v a l . o c i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - N e t i n v e s t . by h o u s e h o l d s 26 Data 3.5 3.5 shares * R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e - N e t our c h a s e s - Financial Worth flow, basis - R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued 19 0.2 1 . 0 -2.1 -3.1 allowances 2 3 4 20 21 22 1.2 0.1 issues = • Net Annual R. 134 9 0 1 in Flows 1945 8 Change dollars. 20 21 22 23 24 25 0.1 - . 1 -.1 -.2 26 1.3 1 .1 1.3 2.0 27 M a r c h 9, 1 9 9 4 Private Financial Private Institutions Factors Annual Accounting for Change in N e t Annual R.134 1957 1958 Private Financial 1959 1960 3.6 2.4 2.3 1.7 2.7 2.3 4.2 4.1 4.1 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 institutions, from f l o w of f u n d s a c c o u n t s 1 0.6 3.0 28.9 26.0 0.8 1.6 29.2 27.6 0.8 1.5 25.8 24.3 0.9 0.9 27.6 26.7 0.8 1.9 38.8 36.9 1.0 1.3 33.6 32.3 1.0 3.2 39.8 36.5 1.0 3.2 48.9 45.8 1.2 2.9 58.2 55.3 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 -.3 -.2 0.6 1.3 -.4 0.5 1.1 -.9 0.3 + Corporate 0.4 0.4 0.5 0.5 0.5 0.6 0.6 0.6 0.7 - Capital 3.0 1.8 2.5 2.5 1.8 2.2 4.7 2.6 3.8 = Net investment Balance Sheet 11 0.1 7.9 7.9 2.3 10.5 8.2 * 8.6 8.6 -.7 8.5 9.2 12 13 14 1.4 2.0 0.5 0.9 1.7 0.2 -1.4 -.3 1 . 1 15 16 17 18 0.2 0.4 0.6 0.8 0.2 0.7 0.4 0.8 1.2 1 . 0 0.3 0.7 0.5 0.8 2.7 12.4 9.7 1.2 12.5 11.2 0.1 11.0 10.9 4.2 15.7 11.5 2.9 4.5 0.9 -.2 2.6 1.2 3.6 5.8 1.7 1.4 1 .6 2.2 0.1 0 . 4 0.5 0.9 0.4 0.3 0.5 0.6 0.8 1 . 0 0.1 4.2 5.0 0.9 20 21 22 Flows Institutions 5.6 6.7 1.2 0 . 4 2.1 1.7 -3.2 3. 1 9 . 7 11.3 1.6 3.3 6.7 3.4 0.1 4.2 4.1 12.2 14.9 2.7 equity consump. issues 6 allowances 7 flow, basis 8 -3.3 9.2 12.4 R e v a l . of l i f e i n s u r . a n d p e n s i o n fund r e s e r v e s C h a n g e in v a l u e - N e t c l a i m s issued 9 10 11 -3.3 -1.6 1 . 7 R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued shares 12 13 14 0.2 0.8 0.7 1.2 + Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 15 16 17 18 0.1 + C h a n g e in t h e v a l u e land h o l d i n g s 19 9 10 Institutions 81 Flows 1956 -8.1 -3.6 4.5 of + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases held - R e v a l . of i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - N e t i n v e s t , by h o u s e h o l d s 23 24 25 26 -.4 -.2 -.1 -.4 -.4 -.1 -.2 -.2 + Other 27 5.2 3.7 2.7 0.7 4.7 4.2 7.3 2.8 = Change 74.5 Data Financial Worth are in billions of dollars Net revaluations worth in net 20 21 22 23 24 25 26 worth 27 outstanding 28 M a r c h 9, 1 9 9 4 Private Financial Institutions 82 Annual Private Factors Accounting for in M e t Gross investment oe orivate financial institutions, from f l o w of f u n d s a c c o u n t s 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 + Corporate 7 - a = Net investment Balance Sheet Capital 1965 1966 equity con sump. 1.7 3.5 1 . 1 0 . 6 59. 7 59.2 1 . 7 1.8 67.2 65.4 Private 1967 Financial 4., 0 4.. 0 1 . 9 2.. 0 72. 2 70. 2 1 ,, 9 2,. 1 5 8 .. 0 55.. 9 4. 1 1 3. 7 0. 4 165 . 7 165,.3 2 3 4 5 . 4 1 .. 1 1. 6 3.. 1 6 1. 4 1 ,5 , 1 ,. 7 1 .9 . 7 2.0 2.7 2. 3 3. 3 2 .4 4..8 -•.8 - 2 .. 0 5..3 8 3.9 17.1 13.2 4.1 19.3 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. . 4 3. a 6. 8 9. 5 2.. 7 2 . 0 6.. 9 4.. 9 -9. 5 - 3 .. 6 5. 8 -3. 5 .8 2.. 7 7 . ,3 8. 6 0 .8 12 13 14 0. 7 1 .5 1 .0 1 .9 . 0.. 7 1 . 6 1 .2 2.. 0 1 .5 . 2..8 1 .4 2..8 1 . 2.. 6 1 .5 . 3.. 1 1 .2 2,.5 1 .7 3.. 0 2. 2 3. 9 1 .9 3., 7 15 16 17 18 0 . 1 0 . 5 0 .1 4 9 . 2 13.4 4.2 9. 8 15. 0 5. 2 -10. 9 -4. 6 6. 3 shares of °- * R e v a l . of c o r p . - e q u i t i e s C h a n g e in v a l u e -Net purchases - R e v a l . of i n v e s t m e n t in b a n k oer s o n a l t r u s t s C h a n g e in v a l u e - N e t i n v e s t , by h o u s e h o l d s held revaluations worth outstanding 0,. 1 3 . 0 - 2 .9 1 04 , 4 10 7..3 1 .2 . flow, basis billions 3. 1 -3.. 9 8 3 ,.6 8 7 .5 - .8 + C h a n g e in t h e v a l u e land h o l d i n g s in - .8 .8 . 4 . 2 .8 1 .. 0 19 are 2 2 99 96 0 . 4 0. 5 1 -5 0. 9 1. 9 Data 5 .2 7 0.3 1 .2 0.8 1 . 7 Memo: 28 Net worth . 0 . 3 .8 .5 0 .9 0.3 0 . 7 0.7 1.1 net 2 2 83 81 « + Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis in 4 .3 0.8 15 16 17 18 27 1971 1 . 0 - R e v a l . of m u t u a l f u n d C h a n g e in v a l u e -Shares issued + Other 1970 0 . 7 12 13 14 = Change 1969 Institutions issues 9 10 11 26 1968 Flows allowances - R e v a l . of l i f e i n s u r . a n d pension fund r e s e r v e s C h a n g e in v a l u e -Net claims issued 23 24 25 Institutions Annual R.134 20 21 22 Financial Worth Flows 1964 2 3 4 5 Change of 9.7 13.8 4.1 - 0 .6 5. 7 1 .5 12..3 2 3 ., 9 1 1 .. 1 59. 3 8 1 ., 1 21 .a -1 .3 6 .9 8.. 1 1 0 7 .3 1 16 .0 8. 2 - - .7 -.2 3.4 6. 1 79.5 dollars. 0 .2 20. 3 2 8 ., 1 7..8 86 . 2 0. 8 2., 4 1 .6 1 , .6 19 37. 5 64. 3 26 . 9 20 21 22 1C., 6 22. 6 12.. 0 23 24 25 0 .4 0. 2 4 34. 4 5. 8 1 .3 26 6. 1 3. 3 8. 3 9 .3 3. 8 7 .5 , 7 11 . 27 92. 0 95. 0 103. 6 114. 2 121 . 7 1 2 7 .3 141 . 4 28 M a r c h 9, 1 9 9 4 Private Financial Institutions Private Factors Annual for Change in Net Financial Worth Annual 1973 1974 R.134 3..9 1 4.. 1 2 223 3 2 2 3 ..5 2 3 4 5 8. 2 5. 2. 216. 214. 5 7 9 2 4,. 1 6..7 - 2 ,,6 1 5 7 ..6 1 6 0 .. 1 1975 1976 1977 1978 Private Financial 2 .3 9. 9 15,,8 28., 0 7. 6 2. 3 2 5 1 .,9 2 4 9 ..6 8..5 7.,3 3 1 6 ,.6 3 0 9 ..3 14,, 4 13..6 3 8 9 ., 7 3 7 6 ,, 1 6..9 - 4 ..6 1 7 7 ,. 1 181 ..6 6 2,.6 5.,2 1 -6 . -1 , .2 7 2. 2 2..6 3..4 4. 2 1979 1980 34,. 1 19,,4 14,,7 3 9 5 ,,5 3 8 0 ..9 27..9 G r o s s I n v e s t m e n t of or 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 , fro f l o w of f u n d s a c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s ,8 21 , 6,. 0 378, 2 3 7 2 ., 1 1..7 1 .9 . 3..5 2,, 4 , 1 ,7 + Corporate 5., 1 5.,9 6,.6 7,.9 9,.2 - Capital 11.8 59.1 47.3 -25.9 13.6 39.5 -29.2 12.5 41 . 7 13 14 3.8 3.5 -.3 -12.2 -12.3 -11.9 -11.5 0.5 15 16 17 18 2 .8 4,,6 2. 2 4..1 3,. 7 6,.7 2,.6 5..5 5.,8 9..1 3..4 6.. 7 19 1 .9 . 2,.9 4., 0 20 21 22 36.. 4 61 ..4 2 5 .. 0 - 7 0 ., 9 - 4 8 .. 0 2 2 ..9 -81 . , 0 - 7 7 .. 4 3..7 72.. 0 74. 3 2..4 45.1 53. 9 8.8 - 2 9 .,3 - 1 8 ., 4 10. 8 23 24 25 14..9 2 2 ..6 7.,7 - 2 4 ..4 -12. 2 12.. 1 - 2 6 .. 1 - 2 7 .2 -1 . , 1 2 2 .,9 2 0 ..5 - 2 ..4 18.3 28.6 10.3 -9. 6 -3. 9 5., 7 11 12 -.1 equity consump. 34.9 102.6 67.8 15.6 71.2 55.6 7.9 7.9 5.3 3.5 -1.9 -2.0 -1.0 1 . 0 4..4 7.. 0 4..2 6..9 5.4 7.9 5.1 7.6 4.. 1 6 ,6 , 5., 9 8..5 4 .2 3. 1 3.,4 -16.2 57.5 73.6 17.4 104.4 87. 1 14.4 109.8 95.3 40.2 158.3 118.1 0.7 0.6 -.1 5.2 5.7 0.6 10.0 4. 3 12., 1 6.,6 14.,4 5., 9 17,,5 7,,9 19,,4 7.5 20.1 9.2 21.8 6.5 - 5. 3 9.6 26.,3 38. 3 12., 0 38.,5 53. 5 15..1 88.8 101.5 12.8 3. 6 7. 2 3. 6 13..4 16. 9 3. 5 32.4 25.1 -7.3 26 5.8 10.4 4.5 7.6 6.5 3.5 -.4 1.8 2.4 27 19.5 17.3 3.2 18.5 26.2 22.2 35.9 46. 1 45.2 162.1 181.5 184.5 28 are in billions of dollars. issues 6 7 flow, basis 8 R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued 9 10 11 shares 12 13 14 + Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 15 16 17 18 3.5 4,, 4 1 2 3 4 5 allowances - R e v a l . of l i f e I n s u r . and p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net claims issued • Data Flows Institutions = Net investment Balance Sheet 10 Institutions 83 Flows 1972 i Accounting C h a n g e in t h e v a l u e land h o l d i n g s of + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 19 held - R e v a l . o f i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - N e t i n v e s t , by h o u s e h o l d s + Other revaluations = Change Net worth in net 20 21 22 23 24 25 26 worth 27 outstanding 28 M a r c h 9, 1 9 9 4 Private Financial Institutions Private Factors Annual Accounting for 1 G r o s s i n v e s t m e n t of p r i v a t e financial i n s t i t u t i o n s , from f l o w of f u n d s a c c o u n t s 2 3 4 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s Corporate 7 - Capital 8 equity consump. = Net investment Balance Sheet issues allowances flow, basis - R e v a l . of l i f e i n s u r . a n d 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 v a l u e -Net claims issued 11 12 13 14 - R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued 15 16 17 18 • 1982 1983 - 1 .9 26 -27 476 504 . 0 .9 .4 .3 1984 Private 1985 Financial 17 .1 20.. 1 24 . 1 2 7 .3 -10.1 4 8 9 .8 4 9 9 .9 30..3 - 1 0 .. 1 5 2 9 ,> 9 5 4 0 ,. 0 37.8 - 1 3 .. 7 7 3 8 .. 9 7 5 2 ,.5 29 .7 .6 41 , - 1 2 .. 0 9 1 8 ,.2 930. 2 Memo: 28 Net worth are in outstanding of 31 , .6 51 , .5 8 198,. 1 5 1 5 ,. 4 3 1 7 .3 9 10 11 12.0 13,. 1 6.. 1 49,.4 8 7 ,.9 38..5 12 13 14 .7 11 . 39,.7 28,.3 56..3 13. 3 43..7 3 2 .8 63. 2 15 16 17 18 5 2 .6 13.. 0 1 5 7 ..2 1 4 4 ..3 9 0 .. 7 3 5 3 .,5 2 6 2 ..8 90, 8 361 . 7 2 7 0 .. 9 9 . 1 2 1 0 ,. 9 201 , .7 12. 3 1 7 3 ..2 1 6 0 .,9 - 2 3 ,.6 46.. 7 70..2 - 2 7 .8 8 8 .8 1 1 6 .7 51 , .2 2 1 7 .3 166 , . 1 70..3 2 3 2 ..3 161 ,.9 7..8 held worth bill ions 7 . 24 . 7 8. 5 34., 7 21 . 3 4 7 .,5 6,.4 33..3 24.. 7 5 1 .. 6 12. 3 107..3 2 5 2 ..8 145.5 of revaluations net 6 3 2 .8 3 7 ,.8 3. 3 26..5 18. 4 41 .6 in 8,.8 28..3 26 ,.5 9. 3 2.. 0 2 3 ..4 16..4 37..8 Other 2 3 .9 14,.9 9,. 0 2.. 1 18.. 0 14.4 30. 3 • 20..4 16 , .3 .3 21 , 4..9 19.. 1 13.. 0 27..3 = Change 2 3 4 5 18..4 7 .8 2 2 .5 11..2 26 . 0 27 1 6 3 .2 12.2 8 9 0 ,.7 8 7 8 ,.5 15..2 Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis - R e v a l . of i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - N e t i n v e s t . by h o u s e h o l d s 7 5 .5 5 6 ,.3 - 2 0 ..3 6 4 5 .4 6 6 5 ,.7 16..4 14..9 1 0 3 ..6 8 8 .. 7 23 24 25 36 .0 51..6 5 .4 7 01 .7 6 9 6 .3 3..5 - 2 ..7 24. 6 2 7 .3 + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 5 6 .9 14..4 - 1 0 ,.3 1989 42.8 4 .9 7,. 1 1988 Flows 47,.5 - 4 ..7 1 0 6 4 ,.8 1 0 6 9 ..5 13,.0 6.. 0 3 5 ..3 29 . 3 20 21 22 1987 2 .8 7..6 17.. 0 9,.4 + C h a n g e in t h e v a l u e land h o l d i n g s 1986 11..2 - 6 .4 -2 . 0 4,.4 26 Institutions Institutions shares 19 Data Financial Worth Annual R.134 • in N e t Flows 1981 6 Change - 4 7 ..5 - 1 9 ,.7 27.. 7 - 1 1 ..3 .5 -1 . 9..8 21., 0 2 9 ,. 1 8.. 1 8. 8 4. 0 10. 6 10. 5 12.. 0 1 .6 181 ., 1 233. 6 52.5 2 5 ., 0 26. 4 1 .4 - 1 .4 14.7 16. 0 4 0 ..4 60. 2 19. 8 122. 5 168. 3 45. 8 15..4 13.,4 1 6 4 .,6 213. 9 49. 2 10. 6 3 8 .. 7 2 8 ..2 171 ., 0 1 6 5 .. 1 - 5 ..9 33. 4 49. 7 16. 3 9.. 1 3. 5 -5, 6 2 2 .3 29..6 7,.2 16..3 19 342.2 369 , .8 27,.5 20 21 22 49,.6 72,.7 23..1 23 24 25 7..2 8. 2 8. 4 52. 6 13. 6 4. 8 -9. 5 9,.7 - 5 ,.9 26 8,.3 36. 2 48. 9 75. 9 85. 8 86. 5 7 3 ,.8 72..0 111 ..2 27 484. 4 559. 4 648. 5 740. 0 820. 9 9 1 6 ..7 1 036,.9 28 .3 397 . dollars. 8.. 0 8 6 ..9 116..6 29..7 4 3 4 .. 7 M a r c h 9, 1 9 9 4 Private Financial Private Institutions Factors Annual Accounting for Change in N e t Financial Worth 85 Annual Flows 1992 R.134 1 47.2 24. 2 2 3 4 5 61 . 0 -13.9 404.0 417.8 57. 1 -32. 9 690. 5 7 2 3 ., 4 Financial Institutions 16. 0 59. 4 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 f l o w of f u n d s a c c o u n t s 60. 2 -44. 2 649. 8 694. 0 64. 4 -5. 0 1041 .0 1046. 0 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 9.9 11 .2 19. 6 3 3 ..1 + Corporate 7 36.6 39. 3 41 . 2 4 3 .,4 - -Capital 8 20.5 - 4 .. 0 -5. 5 49. 2 9 10 11 -113.8 47.9 161.7 2 9 7 .,3 656. 3 3 5 8 ..9 7 3 .,5 301. 5 2 2 8 ..0 176. 2 4 4 6 .,5 2 7 0 .,3 12 13 14 -32.0 35.9 67.9 61 ..3 2 1 1 ..8 150..5 21 .5 228. 2 2 0 6 .,7 7 4 ..0 384. 8 3 1 0 .,7 15 16 17 18 10.3 34.8 36.6 61.0 19 20 21 22 4,.9 2 2 .6 39..3 57.. 1 - 4 .. 1 14. 9 41 .,2 6 0 .2 - 4 .. 1 17..0 43..4 6 4 ..4 -15.6 -7..4 - 3 .. 1 - 2 ,.3 -136.1 -117.9 18.2 4 8 3 ..7 5 9 9 ,.2 1 1 5 ,.5 2 0 6 ,.3 2 9 3 .. 0 8 6 ..6 3 1 1 ..9 5 0 0 ..6 188..7 -14.8 6.7 21.5 26 -17.1 27 20.6 5 7 .. 0 8 6 .8 29 .8 5 . 1 45..4 30.. 0 22.. 4 -7. 5 in billions of - R e v a l . of l i f e i n s u r . a n d p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net claims issued - R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued • Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis + C h a n g e in the v a l u e land holdings + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 28 . 6 3 9 .5 10..9 flow, basis shares of held R e v a l . of i n v e s t m e n t in bank personal trusts C h a n g e in v a l u e - N e t i n v e s t . by h o u s e h o l d s - 3 6 ..9 22..1 + Other 31 , .7 97..9 = Change dollars. issues allowances Net investment Balance Sheet 21 22 23 24 25 revaluations Memo: Net worth are equity consump. = 23 24 25 Flows 1993 Private 6 Data Institutions in net worth 27 outstanding 28
@FedFRASER