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October 1988 Balance Sheets Flow of Funds. Balance Sheets For the U.S. Economy 1948-87 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 Table of Contents Pages Balance sheet tables: I-5 National Net Worth 6-10 Tangible Asset Holdings II-15 Households 16-20 Farm and Nonfarm Noncorporate Business 21-25 Nonfinancial Corporate Business 26-30 Private Financial Institutions Stock-flow reconciliation tables: 31-35 All Sectors 36-40 Sector Flow Summaries 41-45 Households 46-50 Farm and Nonfarm Noncorporate Business 51-55 Nonfinancial Corporate Business 56-60 Private Financial Institutions Federal Reserve Statistical Release C.9 Balance Sheets for the U.S. Economy 1948-87 The attached tables are a preliminary form of complete sector balance sheets for the private sectors of the economy, in which estimates of tangible assets and land are combined with the financial assets and liabilities that are published in the Flow of Funds Accounts to produce measures of total position and net worth. Reproducible tangible assets as shown here are from the tabulations published by the Bureau of Economic Analysis (BEA) as equipment, residential structures, and inventories. Values of land holdings are Federal Reserve estimates based mainly on data from quinquennial Censuses of Government on real estate assessments and relations of assessments to sale prices in transactions. An important aspect of these balance sheets is that reproducible assets are valued at replacement cost net of straight-line depreciation, while land holdings are stated at current market values. These valuations cdrry through the balance sheets to jaffect the measures of net worth, which are calculated as total tangible and financial assets less total liabilities, and are thus based on current values. These tables were last published in April 1988. This issue includes revised capital stock data from BEA for 1985 through 1987, as well as changes and additions to the financial assets and liabilities made as part of the annual revisions of the Flow of Funds Accounts (Z.l). These revisions are described in detail in the introduction to that publication for the second quarter of 1988. They include a major overhaul to the nonfarm noncorporate business sector, as well as substantial revisions to the security brokers and dealers sector and in several series for repurchase agreements, both of which affect the private financial institutions grouping in the Balance Sheets. Information on obtaining Flow of Funds publications is provided below. For nonfinancial corporations the balance sheet statement includes an alternative measure of tangible assets at historical cost— the amount actually paid to acquire tangibles whenever purchased—and the alternative measure of net worth that results from this valuation. The historical-cost estimates for reproducibles come from the same BEA calculation that produces current cost estimates and are thus consistent for comparison of alternative pricing methods. The BEA calculation is a perpetual-inventory procedure that consists of accumulating purchases over a long period of years and deducting depreciation and retirements according to various schedules. It is entirely independent statistically of published business balance sheet measures of fixed assets, even for historical-cost measures. 1. U.S. Department of Commerce, Bureau of Economic Analysis, Fixed Reproducible Tangible Wealth in the United States, 1925-85 (Washington: U.S. Government Printing Office, June 1987). See also John C. Musgrave, "Fixed Reproducible Tangible Wealth in the United States, 1984-87," Survey of Current Business, vol. 68 (August 1988), pp. 84-87. Accompanying the balance sheets is a parallel set of tables that relate changes in net worth that appear in the balance sheets to gross investment flows that are published in the Flow of Funds Accounts. Conceptually, changes in net worth for each sector should equal gross investment as published, after subtracting depreciation and allowing for net flows of equity funds. Differences between the two measures arise principally from revaluation of tangible and financial assets from year to year as a result of price movements. Beyond price changes, however, allowance must be made for land transactions, which are not included in Flow of Funds statements, as well as for changes in land values. Further allowances are needed for statistical differences in depreciation measures and for discontinuities in source data that occur when the scope of method of measurement is changed. These adjustments appear in the individual sector stock-flow reconciliation statements included here. Subscription information. Effective in 1987, the Federal Reserve Board began charging nominal amounts for subscriptions to all public releases to'defray postage costs. The annualjcost of the Z.7 release, Flow of Funds Summary Statistics, presently is set at $3.00; the price of the full Z.l release, Flow of Funds Accounts, has been fixed at $10.00. The cost of the C.9 release, Balance Sheets for the U.S. Economy, which appears twice a year, usually in April and October, is $3.00 per year. Subscription inquiries for these releases should be directed to Publications Services, Stop 138, at the Federal Reserve street address given below. Quarterly or annual data for specific sectors of the accounts, in reasonable scope, are available in printed form from the Flow of Funds Section on request. Computer tapes for the entire quarterly data base in the accounts may be purchased from the National Technical Information Service, 5285 Port Royal Road, Springfield, Virginia 22161. Tape prices are determined by NTIS. Requests and inquiries about the data and historical tabulations of the data should be addressed to: Flow of Funds Section Room B-5100, Stop 95 Board of Governors of the Federal Reserve Systems 20th and Constitution Avenue NW Washington, DC 20551 (202) 452-3482 -ii- October 1988 National Net Worth National Net Worth 1 Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings 1948 Year-End Outstandings 1949 1 714,871 745, 442 856, 994 952, 616 1 ,000, 343 1 ,044, 338 1 ,090, 696 1 ,176,,850 2 3 4 5 6 564, 304 210, 672 192, 256 85, 122 76, 254 590, 674 223, 263 203, 761 77, 084 86, 566 680, 469 249, 242 226, 903 96, 135 108, 189 758, 085 273, 009 251,,838 108,,823 124,,415 797, 219 288, 153 267, 074 108, 003 133, 989 833, 530 300, 579 280,,890 109,,088 142,,973 864, 745 317, 852 293,,079 106, 734 147,,080 933,,685 342,,427 319,,968 113,,975 157,,315 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables Land at market values 7 150, 567 154, 768 176, 525 194,,531 203,,124 210,,808 225,,951 243,,165 8 9 24,.399 14, 838 24, 563 15, 944 22,,820 16,,949 22,,872 16,,755 23,,252 18,,214 22,,091 19,,495 21,,793 19,,674 21,,753 21,,212 10 754,, 108 785, 949 896,,763 992,,243 1 ,041,,809 1 ,085,,924 1 ,132,,163 1 ,219,,815 11 754 , 108 785,,949 896 ,763 992,,243 1 ,041,,809 1 ,085 ,924 1 ,132,,163 Domestic net worth by sector: 1 ,219 ,815 Total» all sectors 12 13 14 15 16 17 950 ,792 461 ,047 820 ,579 247 ,604 98 ,621 13 ,307 986,,135 484 ,833 854 ,791 248 ,491 106,,375 15,,092 1,088,,931 529 ,303 955 ,913 278 ,780 130,,319 17 ,511 1,184 ,442 575 ,099 1,047 ,998 299 ,720 152 ,812 20 ,367 1 ,241,,432 608,,781 1 ,102,,221 302,,758 166,,498 24,,184 1 ,292 ,400 637 ,197 1 ,129 ,040 305 ,037 158 ,268 28 ,538 1 ,347,,020 666 ,435 1 ,239 ,088 310 ,448 228 ,910 33 ,295 1 ,431 ,829 708 ,419 1 ,348 ,722 321 ,350 278 ,455 40 ,498 18 19 20 152 ,282 102 ,497 202 ,440 155 ,910 99 ,549 212 ,704 167 ,565 119 ,586 235 ,819 177 ,160 131 ,785 259 ,986 180 ,655 131 ,294 275,,880 184 ,565 129 ,540 291 ,074 188 ,096 131 ,561 305,,908 196 ,037 134 ,745 333 ,099 21 22 23 24 32 ,526 24 ,778 13 ,307 5 ,559 33 ,139 26 ,112 15 ,092 8 ,065 36 ,658 28 ,559 17 ,511 9 ,412 40 ,412 30 ,302 20 ,367 10 ,257 44 ,822 32 ,504 24 ,184 11,,866 50 ,024 34 ,427 28 ,538 12 ,941 55 ,020 39 ,453 33 ,295 17 ,728 59 ,529 43 ,175 40 ,498 24 ,144 25 26 27 28 29 -203 ,226 —4 ,695 -198 ,783 252 -208 ,550 - 6 ,459 -202 ,356 265 - 2 0 3 ,277 - 8 ,450 - 1 9 5 ,118 291 -199 ,097 - 9 ,750 -189 ,659 312 -206 ,125 -11 ,935 -194 ,533 343 -214 ,565 - 1 3 ,961 -200 ,964 360 -223 ,928 - 1 7 ,865 -206 ,437 374 -224 ,500 - 2 2 ,108 -202 ,784 392 30 6 ,542 8 ,089 9 ,071 ~ - 8 ,364 " 11 ,109 - 6 ,898 Total consolidated - 6 ,502 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)(5) -Pension fund reserves Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 18 19 20 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 21 22 23 24 Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 12*486 12 ,486 Unallocated financial assets (1) At current cost. (2) Net of foreign direct Investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are in millions of dollars. 12 13 14 15 16 17 25 26 27 28 29 October 1988 National Net Worth National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1 Tangible assets 2 3 4 5 6 Reproducible assets (I) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 Land at market values 8 U.S. gold and SDRs 9 Net claims on foreign (2)(3) 10 Total consolidated domestic net assets (2)(3) Domestic net worth by sector: 11 Total, all sectors 12 13 14 15 16 17 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held ( 4 H 5 ) -Pension fund reserves 18 19 20 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 21 22 23 24 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held ( 4 H 5 ) 25 26 27 28 29 Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 30 Unallocated financial assets 1,284,,340 1,351,,817 1,408,,293 1,476,,222 1,534,,146 1,585,,735 1,646,,442 1,710,,530 1 1,012 ,198 361 ,660 355 ,916 122 ,745 171 ,877 1,058,,638 375,,455 380,,667 126,,341 176,,175 1,091,,827 390,,946 392,,660 126,,259 181,,962 1,139 ,426 409,,688 409 ,015 131,,714 189,,009 1,175,,508 425 ,962 420 ,382 135,,508 193,,656 1,207,,779 441,,560 432,,260 137,,164 196,,795 1,254,,747 459,,106 449,,563 143,,761 202,,317 1,302 ,401 471 ,540 468 ,552 149,,508 212,,801 2 3 4 5 6 272 ,142 293,,179 316 ,466 336 ,796 358,,638 377,,956 391,,695 408,,129 7 22 ,058 24 ,673 22,,857 28,,672 20,,582 31 ,124 19 ,507 31,,263 17 ,804 33 ,893 16,,947 37,,826 16,,057 40,,330 15,,596 43,,163 8 9 1,331,071 1,403,346 1,459,999 1,526,992 1,585,843 1,640,508 1,702,829 1 ,331,,071 1,403 ,346 1 ,459,,999 1 ,526 ,992 1 ,585 ,843 1 ,640,,508 1 ,702,,829 1,,769 ,289 11 1 ,542 ,880 759,,706 1 ,440 ,978 339,,552 296 ,041 45 ,679 1,618 ,034 789 ,465 1,451 ,530 352 ,065 258 ,668 51 ,332 1 ,691,,168 827,,638 1 ,615 ,442 367,,298 360 ,070 60 ,436 1 ,764 ,003 865 ,979 1 ,696 ,601 375 ,203 386 ,173 69 ,246 1 ,826 ,353 906 ,672 1 ,742 ,906 381,,075 378 ,431 76 ,728 I ,889,,393 942,,763 1 ,900,,223 390,,883 477,,928 88,,649 1 ,961 ,498 978 ,450 1 ,889 ,934 401,,662 416,,183 93,,639 2,,030 ,334 1,,017,,924 2,,025 ,437 412,,778 488,,694 106 ,041 207,,643 141 ,838 368,,149 213 ,861 148 ,606 392 ,895 220,,501 157 ,846 408,,240 225 ,008 161 ,500 428 ,667 229,,810 162,,650 437,,037 235,,101 167,,508 450,,007 241,,974 171 ,708 , 463,,560 247 ,720 18 177 ,482 19 477 ,546 20 65 ,544 45 ,811 45,,679 25,,946 73 ,207 47 ,405 51 ,332 25 ,530 76,,943 52 ,868 60,,436 36,,361 82,,849 56 ,237 69 ,246 42,,634 90,,184 59,,695 76 ,728 46,,239 94,,014 66,,750 88,,649 61,,385 105,,806 70,,062 93 ,639 57,,895 109 ,662 74 ,249 106 ,041 70 ,628 21 22 23 24 -223,,566 -25,,471 -198 ,500 405 -226 ,398 -29 ,799 -197 ,042 443 -242,,308 -34,,596 -208,,190 478 -249 ,018 -38 ,255 -211,,271 508 -250,,512 -41,,478 -209,,573 539 -260,,240 -45,,546 -215,,279 585 -268,,412 -48,,838 -220,,214 640 -272 ,040 -50 ,857 -221,,882 699 25 26 27 28 29 11,,139 12,,007 10,,002 11,,355 9,,743 - 11,,757 - 11 ,710 (1)i At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are in millions of dollars. 1,769,289 10 12 13 14 15 16 17 10,,995 30 October 1988 National Net Worth National Net Worth 3 Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings 1964 Yeai—End Outstandings 1965 1966 1967 1968 1969 1970 1971 1 1 ,806 : ,247 1,,920,,053 2,,095 ,633 2,,228 ,602 2,,438 ,407 2,,652 ,705 2 ,828 ,085 3 ,079 ,132 Tangible assets 2 3 4 5 6 1 ,376 ,073 502,,050 494 ,943 155 ,367 223 • 713 1 ,466,,972 526,,165 535,,711 169,,035 236,,061 1,,602 ,086 567 478 590 ,951 185 ,170 258,,487 1,,717 ,644 596 ,380 640 ,677 197 ,377 283 ,210 1 ,903 ,027 667 ,831 709 ,247 211 ,732 314 ,217 2 ,092 ,814 731 ,905 784 ,783 232 ,396 343 ,730 2 ,250 ,089 772 ,214 865 ,131 240.,310 372 ,434 2 ,462 ,515 860 ,459 950 ,521 257 ,804 393 ,731 616 ,617 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 430,,174 453,,081 493 ,547 510 ,958 535 ,380 559 ,891 577 ,996 8 9 15,,471 50,,140 14,,065 56,,001 13 ,235 59,,820 12,,065 63 ,372 10 ,892 67 ,237 11 ,859 66 ,921 11 ,923 68 ,430 10 1 ,871,,858 1,,990,,119 2,,168,,688 2,,304,,039 2,,516,,536 2,,731,,485 2,,908,,438 3,,145,,187 11 1 ,871,,858 1 ,990,,119 2,,168 ,688 2,,304,,039 2,,516 ,536 2,,731 ,485 2 ,908,,438 Domestic net worth by sector: 3,,145,,187 Total, all sectors 12 13 14 15 16 17 2 ,139,,542 1 ,079 ,633 2 ,164,,578 428 ,434 535 ,690 120 ,821 2 ,258,,623 1 ,142,,076 2 ,327,,956 449,,617 600,,493 135,,770 2,,438 ,050 1,,239,,774 2,,401 ,934 477 ,090 540 ,920 144 ,150 2,,592 ,060 1,,339,,454 2,,674 ,647 493,,854 676 ,319 165,,020 2,,815 ,282 1 ,479 ,331 2,,995 ,318 523 ,622 806 ,938 185 ,427 3,,023 ,357 1,,589 ,795 3,,031 ,583 548 ,054 699 ,111 194 ,623 3,,214,,373 1,,699,,244 3,,161,,757 566,,570 682,,652 213,,291 3,,481,,944 1,,852 ,383 3,,487,,519 609,,652 777,,960 247 ,524 18 19 20 257 ,237 184 ,083 500,,435 266 ,495 196,,905 529,,963 286 ,779 204 ,636 569 ,581 293,,973 214,,926 606,,610 313 ,455 225,,986 653,,061 329,,910 234,,563 713,,544 343,,463 239,,900 767,,841 369,,108 258,,649 838,,006 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 21 22 23 24 118 ,154 80 ,778 120 ,821 83 ,445 123,,184 86,,070 135,,770 98,,656 137,,280 87 ,391 144 ,150 94,,261 137,,097 94,,185 165,,020 122,,108 143 ,449 102,,919 185,,427 144,,897 155,,545 101,,403 194,,623 140,,481 163,,925 100,,146 213,,291 149,,512 163,,798 111,,244 247,,524 194,,970 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held (4)(5) 25 26 27 28 29 -278 ,952 -53 ,899 -225 ,801 748 -282,,315 -56,,804 -226,,314 803 -287 ,195 -59,,267 -228,,777 849 -305,,483 — 64,,070 -242,,304 891 -320,,006 -69,,184 -251,,728 906 -323,,782 -79,,181 -245,,542 941 -340, 249 -83,,855 -257,,352 958 -372,,403 -92, 869 -280,,587 1,,053 30 11,,268 13,,811 17,,833 17,,462 21,,260 31,,910 34,,314 Land at market values 11 ,400 U.S. gold and SDRs 54 ,655 Net claims on foreign (2)(3) - Total consolidated domestic net assets (2)(3) Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4)(5) -Pension fund reserves Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority 35,,646 Unallocated financial assets CI) At current cost (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are In millions of dollars. Ocivjer 1988 National Net Worth National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1972 1 Tangible assets 2 3 4 5 6 Reproducible assets (1) Residential structures Nonres. plant 8 equip. Inventories Consumer durables 7 Land at market values 1973 1974 1975 1976 1977 3 ,396 ,161 3 ,907 ,157 4 ,579 ,791 4 ,981 ,522 5 ,557 ,472 6 ,318 ,982 7 8 ,497,562 1 3 ,090 ,676 • 890 1 ,109 , 11, 157,661 352 ,625 470,,500 3 ,652 ,281 1,,262 ,175 1,,422,,612 423,,315 544,,179 3 ,959 ,006 ,500 1 ,363 • 1,,570 ,979 428,,828 595,,699 4 ,358 ,239 1 ,532 ,333 1 ,709 , ,871 463 • 282 652,,753 4 ,912 ,132 1,,785,, 154 1,,895 ,798 505,,683 725,,497 5 ,703,,492 2 ,095,,090 2 , 199• 699 588,,241 820,,462 6 ,466,637 2 ,407,398 2 ,459,108 674,837 925,294 2 3 4 5 6 1 ,701,,485 2,,030,925 7 13,896 114,206 8 9 688 ,163 816,,481 927 ,510 1,,022,,516 1,,199,,233 1,,406 ,850 12 ,445 50,,198 13,,818 55,,555 14,,026 57,,835 13,,934 86,,978 13,,993 105,,654 14,,348 87,,888 Total consolidated domestic net assets (2 ) (3) i 3,• 458>804 3,,976,,530 4,,651,,652 5,,082,,434 5,,677,,119 6,,421,,218 Domestic net worth by sector: 11 Total, all sectors 12 13 14 15 16 17 Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held (4 ) (5 ) -Pension fund reserves 1979 2 ,707 ,998 964 ,656 1 ,033 ,065 285 ,593 424 ,684 8 U.S. gold and SDRs 9 Net claims on foreign ( 2 M 3 ) 10 1978 ,977 13,,229 91., 125 7,,509,,331 8,,625,664 10 3 ,458 ,804 3,,976 ,530 4 ,651 ,652 5 ,082 ,434 5 ,677 ,119 6 ,421 ,218 7 ,509 ,331 8 ,625 ,664 11 3,,809 ,605 2,,019 ,284 3,,853 ,269 674 ,051 861 ,986 297,,948 4,,320 ,373 2,,241 ,461 4,,015 .045 807 ,540 663 ,561 302 ,483 5 ,037 ,523 2 ,530 ,347 4 ,195 ,405 898 ,105 459 ,864 307 ,089 5 ,540 ,726 2,,763 , 526 4,,745 ,826 981 ,526 598,,611 402,,163 6,,185 ,364 3,,079 ,336 5 ,364 ,872 1,,111 • 618 712 ,879 461 ,039 6 ,978 ,358 3 ,476 ,546 5 ,920 ,817 1 ,268 ,349 668 ,470 507 ,452 8 ,105 ,183 3,,975 ,006 6 ,755 ,460 ,514 ,844 663 ,873 601 ,737 9 ,273 ,174 4 ,481 ,488 7 ,769 ,896 ,856 1 ,776 , 812 ,156 699 ,396 1,,038 ,275 18 794 ,173 19 2,,363 ,794 20 12 13 14 15 16 17 18 19 20 Nonfarm noncorp . business Farm business Nonfinancial corps. (2) 400,,412 294,,235 913,,750 462 ,206 371 ,327 1,,022,,020 516 ,241 410 ,606 1,,308 ,376 552,,671 ,134 461 , 1, 458,,781 616 ,224 532,,682 1,,610,,164 726 ,682 582 ,438 1,,776 ,497 875 ,600 687,,359 2,,059,,744 21 22 23 24 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held ( 4 X 5 ) 181,,924 121,,068 297,,948 237,,092 223,,359 125,,225 302,,483 204,,349 271,,953 122,,490 307,,089 157,,626 304,,614 118,,012 402,,163 215,,561 346,,958 135,,544 461,,039 249,,625 416 ,195 150 ,504 507,,452 241,,761 507,,474 182,,303 601,,737 276,,566 595 ,444 215 ,108 699,,396 319,,060 21 22 23 24 388,,681 -91,,283 •298,,597 1, 199 •390,,880 -86,,625 •305,,715 1,,460 -406,,218 -90,,300 -317,,846 1,,928 •487,,371 -96, 739 •392,831 2,,199 -542,,643 -94,,002 •451,,171 2,,530 -581,,368 -77,,102 -507,,151 2,,885 -614,,418 -71,,172 -546,,651 3, 405 •641,,765 -73,,412 •572,,314 3,,961 25 26 27 28 29 Public sectors: financial 25 i t assets less liabilities 26 State and local governments U.S. government 27 28 Sponsored credit agencies 29 Monetary authority 30 Unallocated financial assets - 37, 880 - 47,,037 (1 ) At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are in millions of dollars. - 20,,347 - 29, 079 - 34,,398 - 24,,228 - 18,,566 - -5, 745 30 October 1988 National Net Worth National Net Worth Consolidated Domestic Net Assets with Tangibles at Current Cost Year-End Outstandings 5 Year-End Outstandings 9 ,579 ,701 10,,604,,805 10 ,824 ,605 11 ,395,,916 11 ,980,,012 12 ,483 ,361 13,,163 ,206 14, 7 ,243,,113 2 ,676,,405 2 ,807,,427 739,,312 1 ,019,,969 7,,989,,046 2,,928 ,454 3,-175,,130 788,,988 1,,096,,474 8 ,155 ,359 2 ,893,,937 3 ,348 ,274 771,,459 1 ,141,,689 8 ,557,,227 3 ,112,,749 3 ,450,,406 787,,190 1 ,206,,882 9 ,082,,676 3 ,308,,357 3 ,630,,176 858,,166 1,,285,,977 9 ,515 ,842 3 ,482 ,951 3 ,771 ,680 863 ,542 1,,397 ,669 10,,001 ,451 3,,686 ,055 3,-917 ,437 863 ,123 1,,534,,836 10,,716 ,668 3,,990 ,496 4,,100 ,560 941,,533 I,,684,,079 7 2,,336,,588 2,,615,,759 2 ,669,,246 2 ,838,,689 2,,897,,336 2,,967,,519 3,,161,,755 3,,361,,866 15,,246 154,,683 16,,398 159,,151 16,,146 127,,480 16,,737 39,,275 18,,383 -50,,859 19,,459 -154,,158 21,,361 -220,,232 9,727,576 10,774,734 11,000,154 11,539,542 12,036,024 12,450,885 13,028,507 13,879,663 11 9 ,727,,576 10,,774,,734 11 ,000,,154 11,,539,,542 12,,036 , 024 12 ,450 ,885 13,,028 ,507 Domestic net worth by sector: 13 ,879,,663 Total, all sectors 11 12 13 14 15 16 17 10 ,455,,635 4 .950,,013 8 ,931,,088 2 ,030,,108 1 ,111,,325 839,,642 11 ,596,,911 5 ,463,,479 9 ,678 ,842 2 ,253,,203 1 ,051 ,424 910,,736 11 ,979 ,434 5 ,660 ,935 10 ,139 ,771 2 ,224 ,103 1 ,173 ,445 1 ,081,,288 12,,704,,183 6,,150,,992 11,,028,,010 2,,273,,760 1,,323,,175 1,,280,,083 13 ,436 ,009 6 ,632 ,867 11 ,587 ,285 2 ,229 ,242 1 ,323 ,143 1,,402,,033 14 ,025 ,353 7 ,080 ,673 12,,608 ,921 2,,190 ,131 1,,685 ,273 1,,652 ,844 14,,808 ,856 7,,660,,961 13,,592 ,219 2,,192,,505 1 ,850,,636 1,,888,,117 15 ,815,,459 8 ,331,,117 14 ,372,,974 2 ,271,,822 1 ,697,,753 2 ,072,,282 12 13 14 15 16 17 18 19 20 1 ,216,,648 874,,688 2 ,719,,303 1,,454,,397 858,,931 3,,049,,516 1 ,469,,118 811,,812 3 ,173,,198 1,,532,,083 797,,502 3,,271,,574 1,,589 ,108 688,,316 3,,399,,616 1,,629 ,999 602 ,292 3,,460,,866 1,,674,,344 557,,162 3,,521,,137 1,,730,,925 581,,610 3 ,616,,454 Nonfarm noncorp. business Farm business Nonfinancial corps. (2) 18 19 20 21 22 23 24 694,,983 251,,713 839,,642 396,,372 770,,588 248,,890 910,,736 389,,038 864,,371 254,,304 1,,081,,288 471,,221 952,,032 274,,270 1,,280,,083 602,,321 1,,126,,102 327,,906 1,,402,,033 603,,837 1,,251,,523 373 ,988 1,,652,,844 775,,309 1,,395,,252 438,,388 1,,888,,117 931,,253 1,,555,,353 465,,179 2,,072,,282 982, 108 Private financial insts. (2) Sector basis •Pension fund reserves -Corp. equities held C 4 M 5 ) 21 22 23 24 25 26 27 -712,892 -79,438 -637,752 4,298 -791,579 -81,265 -715,110 4,796 -944,791 -82,057 -868,837 6,103 -1,130,692 -77,423 -1,060,239 6,970 -1,299,644 -58,272 -1,249,209 7,837 -1,492,068 -35,424 -1,463,038 6,394 ,706,574 -20,261 ,692,274 5,961 -1,902,725 -22,201 -1,886,843 6,319 8 9 28 29 13,, 770 134,.105 -15,167 -73,775 CO 1 2 3 4 5 6 ,534 Reproducible assets (1) Residential structures Nonres. plant & equip. Inventories Consumer durables Land at market values Total consolidated domestic net assets C 2 H 3 ) Private total, consolidated Households Sector basis -Equity in noncorp. bus. -Corp. equities held ( 4 M 5 ) -Pension fund reserves Public sectors: financial assets less liabilities State and local governments U.S. government Sponsored credit agencies Monetary authority -33,071 Unallocated financial assets CI) At current cost. (2) Net of foreign direct investment in U.S. business, but before deduction of foreign holdings of U.S. publicly-issued equities. (3) Excludes U.S. holdings of foreign equities. (4) Includes holdings of foreign shares. (5) Excludes mutual fund shares. Data are in millions of dollars. 2 3 4 5 6 25 26 27 28 29 October 1988 Tangible Asset Holdings Tangible Asset Holdings 6 Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1948 1949 1950 1951 1952 1953 1954 1955 1 Total holdings of tangibles 2 HouseholdsSnonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfarm nonfinan. corps. 6 Financial corporations 714 ,871 235 ,189 103 ,332 149 ,067 223 ,968 3 ,315 745 ,442 258 ,429 101 ,394 152 ,572 229 , 646 3 ,401 856 ,994 305 ,993 122 ,739 165 ,420 259 ,057 3 ,785 952 ,616 346 ,847 136 ,402 175 ,759 289 ,338 4 ,270 1 ,000,343 373,694 136 ,859 179 ,962 305 ,376 4 ,452 1 ,044,338 397 ,837 134 ,811 184 ,512 322 ,385 4 ,793 1,090 ,696 422 ,088 137 ,732 189 ,980 335 ,722 5 ,174 7 Plant and equipment (1) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations 12 Financial corporations 192 ,256 10 ,855 14 ,536 25 ,727 138 ,191 2 ,947 203 ,761 11 ,291 16 ,462 26 ,796 146 ,192 3 ,020 226 ,903 12 ,957 19 ,007 30 ,090 161 ,498 3 ,351 251 ,838 14 ,806 21 ,440 33 ,166 178 ,656 3 ,770 267 ,074 15 ,790 22 ,750 34 ,122 190 ,493 3 ,919 280 ,890 16 ,502 23 ,365 35 ,264 201 ,575 4 ,184 293 ,079 17 ,577 23 ,670 36 ,426 210 ,965 4 ,441 319 ,968 7 19 ,639 8 24 ,810 9 40 ,303 10 230 ,103 11 5 ,113 12 13 Residential structures (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfarm nonfin. corporations 210 ,672 119 ,611 4 ,504 16 ,266 66 ,072 4,,219 223 ,263 129 ,997 4 ,573 16,,841 67,,467 4,,385 249 ,242 150 ,019 4 ,816 17,,937 71,,745 4,,725 273 ,009 168 ,748 5 ,029 18 ,854 75,,397 4,,981 288 ,153 182 ,250 5,,077 19,,121 76,,636 5,,069 300 ,579 194!,135 5,,099 19,,151 77,,081 5,,113 317 ,852 209,,632 5 ,193 19,,342 78,,479 5,,206 342,,427 231,,005 5,,369 19,,639 81,,055 5, 359 13 14 15 16 17 18 85,,122 19,,304 11,-999 53,819 77,,084 16, 664 11,.033 49, 387 96,,135 22, 454 13, 462 60,,219 108,,823 24, 908 14, 215 69,,700 108, 003 23, 307 13,882 70,814 109,,088 .000 14, 378 72, 710 106,,734 21,,200 14, 276 71,.258 113, 975 19, 900 15, 155 78, 920 19 20 21 22 19 Inventories (2) 20 Farm business 21 Nonfarm noncorp. business 22 Corporations 23 Consumer durables (Households) 24 Land at market value 25 HouseholdsSnonprofit insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfarm nonfinan. corps. 29 Financial corporations 1,176 ,850 460 ,448 142 ,431 200 ,657 367 ,317 5 ,997 1 2 3 4 5 6 76, 254 86, 566 108, 189 124, 415 133, 989 142, 973 147, 080 157, 315 23 150, 567 23, 965 53, 226 45, 269 27, 739 368 154, 768 26, 002 51, 427 47,276 29, 682 381 176,525 30, 012 63, 341 50, 123 32, 615 434 194, 531 33,849 71, 200 52, 981 36, 001 500 203, 124 36,588 71, 681 55, 322 39, 000 533 210,808 39, 128 70,295 57, 789 42, 987 609 225, 951 42, 606 73,520 60, 799 48,293 733 243, 165 47, 120 78, 082 64, 144 52, 935 884 24 25 26 27 28 29 480,114 158,228 76,032 125,802 117,384 2,668 499,580 171,042 75,075 129,187 121,652 2,624 558,115 196,746 88,949 137,609 131,966 2,845 612,603 221,149 98,687 145,469 144,164 3,134 643,828 238,260 100,009 149,376 152,984 3,199 669,365 253,208 98,871 152,559 161,351 3,376 707,691 273,181 102,540 157,556 170,748 3,666 764,146 301,084 108,171 165,439 185,168 4,284 30 31 32 33 34 35 Memo: 30 Total real estate 31 HouseholdsSnonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Financial institutions CI) At current cost. (2) At year-end prices. Data are in millions of dollars. October 1988 Tangible Asset Holdings Tangible Asset Holdings 7 Distribution of Tangible Assets by Sector Year-End Outstandings 1956 1 2 3 4 5 6 1,284,.340 504,. 056 150,.569 212,,549 410,,238 6,,928 Year-End Outstandings 1957 1958 1959 1960 1961 1962 1,351, 817 526, 747 158, 662 219, 296 439,.521 7,.591 1,408,.293 551,,987 169,,340 225,,664 453,,142 8,,160 1,476,.222 581,,117 175,,951 233,,370 476,,880 8,,904 1,534,.146 611, 811 178,.627 240,.944 493,.209 9,,555 1,585, 735 633,.963 185,.099 247,.608 508,.781 10, 284 1,646,,442 659,,496 191,,469 257,,071 527,,068 11,,338 1963 1,710,.530 Total holdings of tangibles Households&nonprofit insts. 684,,885 Farm business 200,,695 Honfarm noncorp. business 265,,377 Nonfarm nonfinan. corps. 547,,336 Financial corporations 12,,237 1 2 3 4 5 6 7 8 9 10 11 12 355,,916 22,,090 25,,902 44,,579 257,,504 5,,841 $80,,667 23,,677 26,,371 46,,993 277,,332 6,,294 392,,660 25,,029 26,,867 48,,120 285,,999 6,,645 409,,015 26,,594 27,,487 50,,098 297,,664 7 ,172 420,,382 28,,148 27,,590 51,,270 305,,767 7,,607 432,,260 30,,386 27,,960 52,,717 313,,132 8,,065 449,,563 33,,032 28,,753 54,,996 323 ,884 8 ,898 468,,552 Plant and equipment (1) 7 Nonprofit institutions 35 ,774 8 Farm business 9 29,,886 Nonfarm noncorp. business 57,,649 10 335,,628 Nonfarm nonfin. corporations 11 Financial corporations 9,,615 12 13 14 15 16 17 18 361 ,660 248 ,279 5 ,517 19 ,759 82 ,643 5 ,462 375,,455 261,,335 5,,626 19,,610 83 ,342 5 ,542 390,,946 275,,396 5 ,801 19 ,437 84 ,562 5 ,750 409,,688 291,,490 6 ,035 19 ,382 86 ,705 6 ,076 425,,962 305,,663 6,,241 19,,235 88,,475 6,,348 441,,560 318,,004 6,,564 19,, 186 91,,048 6,,758 459,,106 • 330,,988 ,129 19 ,091 94 ,537 7 ,361 471,,540 Residential structures CI) Households: owner-occupants 339,,884 Nonprofit institutions 7,,513 Farm business 18 ,795 Nonfarm noncorp. business 97,,334 Nonfarm nonfin. corporations 8,,014 13 14 15 16 17 18 19 20 21 22 122 ,745 19 ,900 15 ,890 86 ,955 126 ,341 21 ,200 16 ,370 88 ,771 126 ,259 22 ,600 16 ,886 86 ,773 131 ,714 22 ,100 16 ,881 92 ,733 135 ,508 23,,300 16,,618 95 ,590 137,,164 23 ,800 15,,599 97 ,765 143 ,761 25 ,200 15 ,780 102 ,781 149 ,508 Inventories (2) Farm business 25,,700 Nonfarm noncorp. business 15,,129 Corporations 108 ,679 19 20 21 22 7 23 171 ,877 176 ,175 181 ,962 189 ,009 193 ,656 196,,795 202 ,317 212 ,801 Consumer durables (Households) 23 24 25 26 27 28 29 272 ,142 56 ,293 85 ,008 69 ,437 60 ,317 1 ,087 293 ,179 59 ,934 91 ,481 72 ,591 67 ,876 1 ,297 316 ,466 63 ,799 100 ,436 76 ,096 74 ,620 1 ,515 336 ,796 67 ,989 106 ,982 79 ,686 80 ,407 1 ,732 358 ,638 78 ,103 108 ,502 84 ,581 85 ,504 1,,948 377,,956 82 ,214 114 ,153 88 ,244 91 ,126 2 ,219 391 ,695 86 ,030 118 ,425 91 ,758 93 ,042 2 ,440 408 ,129 Land at market value Households&nonprofit insts. 88 ,913 Farm business 126 ,314 Nonfarm noncorp. business 95 ,265 Nonfarm nonfinan. corps. 95 ,015 Financial corporations 2 ,622 24 25 26 27 28 29 30 31 32 33 34 35 831,,532 329,,852 116 ,116 174,,622 205 ,974 4,,968 877,,502 347,,998 122,,708 179,,663 221,,652 5 ,481 922,,327 367,,230 131,,529 185,,217 232,,381 5,,970 969,,305 389,,081 138,,360 192,,072 243,,248 6,,544 1,012,,614 414,,964 139,,902 199,,566 251,,107 7,,075 1,055 ,793 433,,804 145,,962 207 ,341 260 ,919 7,,767 1,096,,934 453,,627 150,,720 216,,263 267,,707 8,,617 1,135,,820 Total real estate Households&nonprofit insts. 468,,326 Farm business 158,,917 Nonfarm noncorp. business 224,,556 Nonfarm nonfin. corporations 274,,676 Financial institutions 9,,345 30 31 32 33 34 35 (1) At current cost. (2) At year-end prices. October 1988 Tangible Asset Holdings Tangible Asset Holdings Q Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1964 1 Total holdings of tangibles Households&nonprofit insts. 2 3 Farm business 4 Nonfarm noncorp. business Nonfarm nonfinan. corps. 5 6 Financial corporations 1965 1966 709 ,247 57 ,599 41 ,838 85 ,050 506 ,007 18 ,753 784 ,783 64 ,763 45 ,609 94 ,332 558 ,739 21 ,340 865 ,131 71 ,722 49 ,228 104 ,299 615 ,785 24 ,097 950 ,521 7 80 ,703 8 53 ,641 9 115 ,702 10 672 ,937 11 27 ,538 12 567,,478 408,,411 10,,047 20,,011 118,,118 10,,891 596,,380 429,,580 10,,681 20, 517 123,,952 11,• 650 667 ,831 480 ,332 12,,042 22 ,070 139,,706 13,,681 731 ,905 524 ,443 13,,167 23 ,387 155 ,010 15 ,898 772,,214 551,,874 13,,720 23,,998 165,,106 17,,516 860 ,459 614 ,337 14 ,936 25,,515 185,,471 20,,200 13 14 15 16 17 18 169 ,035 28,,000 15,,838 125,,197 185,,170 27,,400 16,,329 141,,441 197, 377 27, 900 17,,102 152, 375 211,,732 29,,100 17,, 624 165,,008 232,,396 31 ,800 , 18,.346 182,.250 240,,310 31,,100 19,,134 190,.076 257,,804 35,,400 21,,671 200,,733 19 20 21 22 223,,713 236 ,061 258 ,487 283 ,210 314 ,217 343 ,730 372 ,434 393,,731 23 430,,174 94,,744 134,,957 99,,483 98,,106 2,,884 453 ,081 99,,567 145,,590 103,,451 101,,357 3,,116 493 ,547 119 ,663 153 ,690 111,,894 105 ,011 3,,289 510 ,958 125,,098 163 ,219 114,,146 105 ,245 3,,250 535 ,380 138 ,232 169 ,502 119,,004 105 ,271 3,,371 559 ,891 150 ,331 172 ,412 124 ,630 108 ,927 3,,591 577,,996 157,,790 176,,218 128,,688 111 ,576 3,,724 616,,617 174,,384 188,,171 135,,600 114,,555 3,,907 24 25 26 27 28 29 1,201 ,985 499,,360 168 .478 237,,636 286,,135 10,,376 1,271,,117 525 ,906 180,,056 250,,257 303,,361 11,,537 1,379,,981 581,,116 190,,150 271,,116 324,,913 12,,686 1,448 ,405 611 ,614 201,,099 281 ,664 340,,778 13,,250 1,582,,388 682,,810 210,,779 307,,138 366,,666 14,,995 1,716 ,094 746 ,934 217 ,131 334 ,432 400 ,705 16 ,892 1,820,,388 788,,951 223,,781 354,,843 434,,192 18,,621 2,004,,005 877,,857 240,,213 390,,632 474,,407 20,,896 30 31 32 33 34 35 494 ,943 38 ,729 31 ,107 61 ,148 353 ,116 10 ,843 535 ,711 42 ,782 33 ,313 66 ,192 380 ,964 12 ,460 590 ,951 47 ,686 36 ,105 72 ,705 420 ,267 14,,188 13 Residential structures (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business Nonfarm noncorp. business 17 18 Nonfarm nonfin. corporations 502 ,050 361 ,593 8 ,303 19,,129 104,,041 8 ,984 526 ,165 378 ,819 9 ,034 19 ,179 109,,329 9 ,804 .19 Inventories (2) 20 Farm business Nonfarm noncorp. business 21 Corporations 22 155,,367 24,,500 15,,089 115,,778 23 Consumer durables (Households) 24 Land at market value 25 Households&nonprofit insts. 26 Farm business Nonfarm noncorp. business 27 28 Nonfarm nonfinan. corps. 29 Financial corporations 1971 640,,677 51,,320 38,,600 77,,454 457,,368 15,,935 7 Plant and equipment (1) Nonprofit institutions 8 9 Farm business 10 Nonfarm noncorp. business 11 Nonfarm nonfin. corporations Financial corporations 12 Data are in millions of dollars. 1970 2,828 ,085 1.167 ,540 280 ,544 417 ,227 934 ,953 27 ,821 2,095 ,633 844 ,294 237 ,206 319,,046 677,,610 17,,477 (1) At current cost. (2) At year-end prices. 1969 2,652,,705 1,096 ,434 273,,208 392 ,318 865 ,814 24 ,931 1,920 ,053 766 ,263 226 ,082 294 ,810 617 ,322 15 ,576 2,228,,602 899,,889 250,,236 332,,654 726,,638 19,, 185 1968 2,438 ,407 1,002,,422 262,,510 361 ,384 789,,967 22,,124 1,806,,247 727,,082 209,,693 279,,761 575,,984 13,,727 30 Total real estate Households&nonprofit insts. 31 Farm business 32 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Financial institutions 1967 3 ,079,,132 1 ,278 ,091 302,,727 458,,444 1 ,008,,425 31,,445 1 2 3 4 5 6 October 1988 Tangible Asset Holdings Tangible Asset Holdings Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1 2 3 4 5 6 3 ,396 ,161 1 ,411 ,761 343 ,169 517 ,207 1 ,089 ,252 34 ,772 3 ,907,,157 1 ,610,,115 428 ,138 597,,266 1 ,231,,514 40,,124 4 ,579 ,791 1 ,846 ,295 474,,955 687 ,699 1 ,521 ,038 49 ,804 4 ,981,,522 1 ,999 ,707 533 ,762 741 ,703 1 ,651 ,681 54,,669 5 ,557 ,472 2 ,253,,408 614 ,730 822 ,646 1 ,805,,605 61,,083 6 ,318 ,982 2 ,614 ,292 677 ,313 953 ,995 2 ,004 ,344 69 ,038 7 ,404 ,977 3 ,077 ,067 798 ,038 1 ,136 ,511 2 ,311 ,049 82 ,312 8 ,497 ,562 Total holdings of tangibles 3 ,505 ,641 Households&nonprofit insts. 927 ,471 Farm business 1 ,353 ,885 Nonfarm noncorp. business 2 ,618 ,467 Nonfarm nonfinan. corps. 92 ,098 Financial corporations 7 8 9 10 11 12 1 ,033 ,065 88 ,782 59 ,034 126 ,814 727 ,758 30 ,677 1 ,*57,,661 98 ,473 66,,380 143,,735 813 ,295 35,,778 1 ,422,,612 115 ,495 82 ,745 172 ,865 1 ,006,,557 44,,950 1 ,570 ,979 120,,886 90,,914 184,,819 1 ,124,,220 50,,140 1 ,709,,871 129,,743 101 ,589 197,,623 1 ,224,,508 56,,408 1 ,895 ,798 141 ,601 114 ,559 219 ,394 1 ,356 ,144 64 ,100 2 ,199 ,699 167 ,725 133 ,912 260 ,593 1 ,560,,828 76,,641 2 ,459 ,108 Plant and equipment (1) 7 175 ,421 Nonprofit institutions 8 149,,838 Farm business 9 291,,896 Nonfarm noncorp. business 10 Nonfarm nonfin. corporations 11 1 ,755,,579 86,,374 Financial corporations 12 13 14 15 16 17 18 964 ,656 687 ,415 16,,802 27 ,165 212 ,013 21,,261 1 ,109,,890 791,,680 19,,450 29 ,703 246 ,015 23,,042 1 ,262,,175 902,,948 21,,899 33,,620 278 ,794 24,,914 1 ,363,,500 978,,640 23,,842 35,,656 299,,525 25,,837 1 ,532,,333 ,106,,144 26,,691 38,,804 333,,078 27,,616 1,,785 ,154 1,,296 ,125 30 ,820 43 ,801 384 ,099 30,,309 2 ,095,,090 1 ,527,,137 35,,898 49,,624 448,,918 33,,513 2 ,407,,398 Residential structures (1) 1 ,734,,013 Households: owner-occupants 41,,359 Nonprofit institutions 54,,431 Farm business 540,,884 Nonfarm noncorp. business 36,,711 Nonfarm nonfin. corporations 19 20 21 22 285 ,593 44 ,300 24 ,014 217 ,279 352 ,625 65 ,500 27 ,309 259,,816 423,,315 62,,400 29,,600 331,,315 428,,828 64,,300 27,,281 337,,247 463,,282 60,,200 27,,910 375,,172 505,,683 59 ,300 29,,454 416,,929 588,,241 73,,700 32,,724 481,,817 674,,837 Inventories (2) 80,,700 Farm business Nonfarm noncorp. 34,,882 Corporations 559,,255 23 424 ,684 470 ,500 544,,179 595,,699 652,,753 725,,497 820,,462 24 25 26 27 28 29 688 ,163 194 ,078 212 ,670 154,,366 122,,954 4,,095 816,,481 230 ,012 266,,555 180,,207 135,,361 4 ,346 927,,510 261,,774 296,,190 206,,440 158,,252 4,,854 1 ,022,,516 280,,640 342,,892 230,,078 164,,377 4,,529 1,,199,,233 338,,077 414,,137 264,,035 178,,309 4, 675 1,,406,,850 420,,249 459,,653 321,,048 200,,962 4,,938 1,,701,,485 525,,845 540,,802 394,,276 234,,891 5,,671 2,,030,,925 Land at market value 629,,554 Households&nonprofit insts. 642,,502 Farm business 486,,223 Nonfarm noncorp. business 266,,922 Nonfarm nonfinan. corps. 5, 724 Financial corporations 30 31 32 33 34 35 2,230,,503 980,,222 268,,648 444,,125 514,,799 22,,709 2,576,,546 1,132,,182 328,,553 515,,357 575,,415 25,,039 2 ,984,,170 1 ,293,,192 368 ,707 592,,280 700,,869 29,,122 3 ,238 ,322 1 ,394 ,204 420 ,590 641,,967 751 ,871 29 ,690 3 ,651,,181 1 ,590,,247 499 ,632 716,,372 813,,543 31,,387 4,202,,797 1,877,,585 556,,374 837,,209 897,,644 33,,985 4 ,987,,756 2 ,244,,477 656,,128 1,,002,,718 1,,044,,393 40,,040 5 ,737,,184 Total real estate 2 ,566,,976 Households&nonprofit insts. 767,,965 Farm business 1 ,201,,787 Nonfarm noncorp. business 1,,158,,954 Nonfarm nonfin. corporations 41,,502 Financial institutions 1 2 3 4 5 6 13 14 15 16 17 18 19 20 21 22 925,,294 Consumer durables (Households) 23 24 25 26 27 28 29 Memo: (1) At current cost. (2) At year-end prices. Data are in millions of dollars. \ 30 31 32 33 34 35 October 1988 Tangible Asset Holdings Tangible Asset Holdings Distribution of Tangible Assets by Sector 10 Year-End Outstandings Year-End Outstandings 1980 1981 1982 1983 1984 1985 1986 1987 1 Total holdings of tangibles Households&nonprofit insts. 2 Farm business 3 Nonfarm noncorp. business 4 Nonfarm nonfinan. corps. 5 Financial corporations 6 9 ,579 ,701 3 ,874 ,877 1 ,022 ,794 ,587 ,847 2 ,988 ,346 105 ,837 10 ,604 ,805 4 ,257 ,978 1 ,026 ,435 1 ,837 ,819 3 ,362 ,500 120 ,073 10 ,824,,605 4 ,268 ,701 984,,568 1 ,934 ,297 3 ,507,,837 129,,202 11 ,395 ,916 4 ,614 ,510 972,,160 2 ,061,,311 3 ,611 ,178 136,,757 11 ,980,,012 4 ,894,,553 861,,154 2 ,219,,481 3 ,849 ,783 155,,041 12 ,483 ,361 5 ,187 ,431 757 ,697 2 ,367 ,229 3 ,999 ,580 171 ,424 13 ,163 ,206 5 ,624 ,153 692 ,689 2 ,510 ,873 4 ,137 ,269 198 ,222 7 Plant and equipment (1) Nonprofit institutions 8 Farm business 9 Nonfarm noncorp. business 10 Nonfarm nonfin. corporations 11 Financial corporations 12 2,,807 ,427 193 ,848 167 ,397 336 ,461 ,371 2 ,010 : 99 ,350 3 ,175 ,130 212 ,434 181 ,202 391 ,737 2 ,277 ,016 112 ,741 3 ,348 ,274 217,,772 181,,865 420,,209 2,,406,,915 121,,513 3 ,450,,406 233,,395 184,,328 435,,059 2 ,469,,044 128,,580 3 ,630,,176 246,,302 183,,017 455,,239 2 ,599,,950 145,,668 3 ,771 ,680 254,,353 175 ,723 475 ,690 2 ,704,,974 160,,940 3,,917 ,437 263 ,781 168 ,731 492 ,734 ,805 ,786 2, 186 ,405 4 ,100 ,560 7 278 ,694 8 165 ,040 9 516 ,376 10 ,746 11 ,928 2 211 ,704 12 13 Residential structures (1) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp. business 17 Nonfarm nonfin. corporations 18 ,676 ,405 2, 1 ,902 ,860 46 ,487 59 ,241 628:,290 39:,527 2 ,928 ,454 2,,062 ,051 50 ,956 63 ,118 710 ,350 41 ,979 2,,893,,937 2,,017,,467 50,,559 61,,872 722,,790 41,,249 3 ,112,,749 2 ,187,,547 53,,263 63,,752 765,,267 42,,920 3 ,308,,357 2 ,316,,297 56,,649 65,,618 824,,875 44,,918 3,,482 ,951 2,,436 ,413 59,,431 65,,960 874,,619 46,,528 3,,686 ,055 2,,602,,423 61,,689 65,,748 908,,469 47,,726 3 ,990 ,496 2 ,835 ,960 65,,981 67,,485 970,,661 50,,409 13 14 15 16 17 18 787,,190 79,,365 33,,617 674,,208 858,,166 80,,860 36,,407 740,,899 863,,542 71,,478 38 ,842 753,,222 863,,123 66,,181 40,,000 756,,942 941,,533 68,,777 44,,864 827,,892 19 20 21 22 19 Inventories (2) Farm business 20 Nonfarm noncorp. business 21 Corporations 22 739,,312 84,,500 33,,996 620,,816 788 ,988 81 ,554 33 ,496 673,,938 771,,459 79,, 248 33,,120 659,,091 14 ,078 ,534 6 ,128 ,236 703 ,595 2 ,662 ,889 4 ,358 ,590 225 ,224 1 2 3 4 5 6 23 Consumer durables (Households) 1,,019.,969 1,,096,,474 1,,141,,689 1,,206,,882 1,,285,,977 1.,397,,669 1,,534,,836 1,,684,,079 23 24 Land at market value Households&nonprofit insts. 25 Farm business 26 Nonfarm noncorp. business 27 Nonfarm nonfinan. corps. 28 Financial corporations 29 2,,336,,588 711 = ,713 711,,656 589,• 100 317,,632 6,,487 2,,615,,759 836 ,063 700,,561 702,,236 369,,567 7,,332 2,,669,,246 841,,214 661,,583 758,,178 400,,582 7,,689 2,,838,,689 933,,423 644,,715 827,,368 425,,006 8,,177 2,,897,,336 989,,328 531,,659 902,,960 464,,016 9,,373 2,,967,,519 1,,039,,565 444,,536 978,,078 494 ,856 10,,484 3,,161,,755 1,,161,,424 392,,029 1,,069,,670 526,,815 11,,817 3,,361,,866 ,263,,522 402,,293 1,,130,,988 551,,543 13,,520 24 25 26 27 28 29 30 Total real estate Households&nonprofit insts. 31 Farm business 32 Nonfarm noncorp. business 33 Nonfarm nonfin. corporations 34 Financial institutions 35 6 ,483 ,619 2 ,839 ,494 850 ,847 1 ,420 ,872 1 ,326 ,605 45 ,801 7 ,206 ,731 3 ,143 ,898 851 ,654 1 ,655,,019 1 ,505,,697 50,,463 7 ,301,,023 3 ,107,,437 812,,210 1 ,744,,349 1 ,585,,403 51,,624 7 ,749 ,663 3,,386 ,228 801,,836 1 ,867 ,172 1 ,639,,527 54,,900 ,449 8,, 107, 3,,585,,324 693,,732 2,,019,,341 1,,747,,608 61,,444 8,,425,,618 3,,764,,453 606,,773 2,,161,,790 1,,823,,874 68,,728 8 ,885,,219 4 ,061 ,631 554 ,032 2,,301 ,809 1,,890,,279 77,,468 9 ,489 ,396 4 ,413,,834 567 ,203 2 ,445,,898 1,,973,,828 88,,633 30 31 32 33 34 35 (1) At current cost. (2) At year-end prices. Data are in millions of dollars. October 1988 Households Households 11 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1952 1953 Households, Personal Trusts, and Nonprofit Organizations 1 235,,189 258 ,429 305 ,993 346 ,847 373 ,694 397 ,837 422 ,088 460 ,448 2 3 4 5 6 7 211 ,224 124 ,115 119 ,611 4 ,504 10 ,855 76,,254 232 ,427 134 ,570 129 ,997 » 4 ,573 11 ,291 86 ,566 275 ,981 154 ,835 150 ,019 4 ,816 12 ,957 108,,189 312 ,998 173 ,777 168 ,748 5 ,029 14 ,806 124 ,415 337 ,106 187 ,327 182 ,250 5 ,077 15 ,790 133 ,989 358 ,709 199 ,234 194 ,135 5 ,099 16 ,502 142 ,973 379 ,482 214 ,825 209 ,632 5 ,193 17 ,577 147 ,080 413 ,328 236 ,374 231 ,005 5 ,369 19 ,639 157 ,315 8 9 10 23,,965 21,,530 2,,435 26 ,002 23 ,399 2,,603 30 ,012 27,,003 3,,009 33 ,849 30 ,375 3 ,474 36 ,588 32 ,805 3 ,783 39 ,128 34 ,944 4 ,184 42 ,606 37 ,734 4 ,872 47 ,120 41 ,581 5 ,539 11 639,,403 658,,917 725,,576 785 ,695 825 ,459 841 ,307 939 ,298 1,031 ,276 12 13 14 215,,443 55,,608 62,,071 218 ,767 53 ,738 64 ,629 224,,167 56,,145 67,,079 233 ,916 60 ,299 71 ,896 248 ,295 62 ,349 79 ,646 261 ,413 63 ,472 8 7 ,899 272 ,862 65 ,218 97 ,155 291 ,521 66 ,115 105 ,876 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 2 3 4 5 6 7 Land Owner-occupied Nonprofit institutions 8 9 10 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 12 13 14 15 16 16 22 106 110 122 151 111 39 — 34 17 18 19 20 21 97,,742 66,,371 47,,837 18,,316 218 100 ,294 67 ,759 49 ,300 18 ,300 159 100,,833 67,,059 49 ,552 17,,353 154 101 ,599 66 ,252 49 ,081 16 ,860 311 106,,149 68 ,081 49,,173 18,,650 258 109,,931 68 ,592 49,,371 19,,126 95 110 ,450 66 ,297 49,,966 16,,230 101 119 ,564 69 ,742 50 ,229 18 ,901 612 Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 17 18 19 20 21 22 23 24 25 7,,952 7,,111 16,,150 158 8 ,643 6 ,824 16 ,863 205 9,,191 6,,764 17,,531 288 9,,529 6 ,973 18,,425 420 11,,543 6,,970 19,,089 466 13,,373 7,,031 20,,081 854 15,,895 6,,162 21,,214 882 19 ,347 6 ,872 22,,476 1,,127 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 100,,136 1,,515 98,,621 109,,445 3,,070 106,,375 133,,663 3,,344 130,,319 156,,293 3,,481 152,,812 170,,429 3,,931 166,,498 162,,414 4,,146 158, 268 235,,019 6,,109 228,,910 286,,293 7,,838 278,,455 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 49,,353 18,,226 52,,104 21,,051 55,,049 24,,254 57,,777 27,,820 60,,665 32,,595 63, 647 37, 479 66,,349 42,,654 69,,254 50,,546 Life insurance reserves Pension fund reserves 29 30 31 247,,604 248,,491 278,,780 299,,720 302, 758 305, 037 310, 448 321,,350 32 33 654 7,,987 702 8,,357 971 8, 692 893 9,,276 714 10, 003 708 10, 609 1, 020 10, 946 899 11,,413 34 874,,592 917,,346 1,031, 569 1,132,,542 1,199, 153 1,239, 144 1,361, 386 1,491,,724 Equity in noncorp. business 31 Security credit Miscellaneous assets 32 33 35 54,,013 62 ,555 75,,656 84,,544 96 ,932 110,,104 122,,298 143 ,002 Total liabilities 35 36 37 38 39 40 41 50,,780 30,,862 1,,130 58 ,948 35 ,284 1,,515 71,,179 41 ,998 1 ,978 80,,031 48,,622 2,,490 92 ,068 54 ,834 2 ,953 104,,606 62,,458 3,,442 115,,528 71,,144 4,,034 135 ,323 83 ,305 4 ,624 9 ,514 6,,805 12 ,232 7 ,156 15 ,503 8,,462 16,,220 9,,149 20 ,470 10 ,073 24,,254 10,,382 24,,891 11,,095 30 ,269 12 ,706 36 37 38 39 40 41 42 43 287 2 ,182 380 2 ,381 667 2 ,571 785 2,,765 836 2 ,902 940 3,,130 989 3,,375 814 3 ,605 44 45 1,,547 851 1 ,819 884 2,,519 951 2,,393 1,,034 2 ,569 1 ,133 3,,032 1,,212 4,,131S 1,,298 4 ,816 1,,381 46 835 904 1,,007 1,,086 1 ,162 1,,254 1,,341 1,,482 955,913 1,047,998 1,102,221 1,129,040 1,239,088 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 42 43 44 45 46 1,348,722 Net worth 48 141,141 153,396 177,022 199,123 215,055 229,079 247,366 49 21,866 23,001 23,724 24,418 25,497 27,264 28,760 272,586 Total owner-occ. real estate Home mortgages as percent of 30,560 owner-occ. real estate 49 50 17,087 17,646 19,724 22,026 23,205 24,129 25,815 28,498 Total nonprofit real estate 50 43,428 Inventories of nondurable goods, 45,148 not included in totals above 51 51 38,100 37,424 Data are in millions of dollars. 40,156 41,867 42,178 43,110 48 October 1988 Households 12 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Qutstandi ngs Year-End Outstandings Households, Personal Trusts, and Nonprofit Organizations 1 Tangible assets 2 3 4 5 6 7 8 9 10 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant & equip. Consumer durables Land Owner-occupied Nonprofit institutions 11 Total financial assets 504 ,056 526 ,747 551 ,987 581 ,117 611 ,811 633 ,963 659 ,496 684 ,885 1 447 ,763 253 ,796 248 ,279 5 ,517 22 ,090 171 ,877 466.813 266 ,961 261 ,335 5 ,626 23 ,677 176 ,175 488 , 188 281 ,197 275 ,396 5 ,801 25 ,029 181 ,962 513 , 128 297 ,525 291 ,490 6 ,035 26 ,594 189 ,009 533 ,708 311 ,904 305 ,663 6 ,241 28 ,148 193 ,656 551 ,749 324 ,568 318 ,004 6 ,564 30 ,386 196 ,795 573 ,466 338 ,117 330 ,988 7 ,129 33 ,032 202 ,317 595 ,972 347 ,397 339 ,884 7 ,513 35 ,774 212 ,801 2 3 4 5 6 7 56 ,293 49 ,656 6 ,637 59 ,934 52 ,267 7 ,667 63 ,799 55 ,079 8 ,720 67 ,989 58 ,298 9 ,691 78 ,103 67 ,246 10 ,857 82 ,214 69 ,961 12 ,253 86 ,030 72 ,817 13 ,213 88 ,913 8 74 ,774 9 14 ,139 10 1,096 ,199 1,096 ,537 1,248 ,095 1,322 ,977 1,356 ,224 1,509 ,259 1,494 ,913 1,634 ,268 11 12 13 14 15 16 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 309 ,631 67 ,751 115 ,452 326 ,015 66 ,600 127 ,498 342 ,762 68 ,792 141 ,577 367 ,607 71 ,641 153 ,087 389 ,256 73 ,331 164 ,835 410 ,269 71 ,991 182 ,946 438 ,596 71 ,387 208 ,681 -440 -508 472 ,090 12 75 ,956 13 234 ,216 14 15 1 ,149 16 17 18 19 20 21 Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 126 ,586 71 ,972 50 ,135 20 ,741 1 ,096 132 ,156 73 ,160 48 23 , 153 1 ,781 132 ,833 69 ,435 47 .703 20 ,512 1 ,220 143 ,387 73 ,949 45 ,907 25 ,0^4 2 ,948 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 21 ,499 7 ,846 24 ,059 1 ,210 23 ,190 8 ,494 25% 997 1 ,315 24 ,003 9 ,673 28 ,562 1 ,160 26 27 28 Corporate equities Mutual fund shares Other corporate equities 305 ,087 9,,046 296,,041 267 ,382 8 ,714 258,,668 373 ,311 13,,241 360,,070 401 ,991 15,,818 386,,173 29 30 Life insurance reserves Pension fund reserves 72,,724 56,,590 75,,462 62,,678 78,,535 72,,716 81,,956 82,,410 339, 552 352,,065 367,,298 375,,203 882 11. 733 894 12, 041 1,,156 12,,317 989 12,,821 1 ,600,.255 1,623, 284 1,800, 082 1,904,,094 31 Equity in noncorp. business 32 33 Security credit Miscellaneous assets 34 Total assets -158 -239 I 28 , 187 10 ,238 30 ,659 354 48 430 151 ,233 74 , 100 45 , 642 2 6 , 159 2 ,299 -143 155 ,284 73 ,910 46 ,445 25 ,400 2 ,065 158 ,098 75 ,530 46 ,968 26 ,872 1 ,690 160 ,769 74 ,929 48 , 149 25 ,654 1 ,126 17 18 19 20 21 30,,802 10 ,899 33,,426 2,,006 32 ,008 10 ,512 36 ,662 2 ,192 31 ,496 9 ,514 38 ,766 2,,792 31 ,986 9 ,541 40 ,250 4 ,063 22 23 24 25 395,,457 17,,026 378,,431 500 ,803 22,,875 477 ,928 437,,092 20,,909 416,,183 513,,512 26 24,,818 27 488,,694 28 88,,631 103,,655 92,,398 109, 638 96, 635 29 123, 201 30 381, 075 390,,883 401, 662 412, 778 31 1, 137 13, 297 1,,192 13, 826 1,226 14, 301 1,222 32 14,830 33 1,968, 035 2,143, 222 2,154, 409 2,319, 153 34 85,• 184 90, 818 35 Total liabilities 159, 277 171, 754 184, 640 207, 493 225, 129 242, 999 264, 475 293, 716 35 36 37 38 39 40 41 151, 305 94, 538 5, 299 163,888 103, 419 6, 041 175, 340 112, 880 6,824 197, 787 125, 685 7, 602 215, 226 137, 348 8, 432 231, 497 149, 541 9, 301 252,811 163, 301 10,288 33, 171 13, 434 35, 443 13,801 35, 339 14, 186 41, 123 16, 119 45, 051 16, 222 46, 027 17, 434 50, 994 18, 368 279, 709 36 179,864 37 11,257 38 39 57,829 40 20, 069 41 971 3,892 829 4, 355 1,290 4,821 1,825 5, 433 1, 921 6, 252 2, 217 6, 977 2, 116 7, 744 2, 283 42 8, 407 43 4, 773 1,530 4, 365 1, 658 5, 522 1,809 5, 536 1, 983 5, 398 2, 126 6, 736 2, 254 6, 610 2, 387 8, 567 44 2, 587 45 1 ,669 1,843 1, 969 2, 187 2, 379 2, 512 2, 667 2,853 46 1,440,978 1,451,530 1,615,442 1,696,601 1,742,906 1,900,223 1,889,934 2,025,437 47 297,935 313,602 330,475 349,788 372,909 387,965 403,805 414,658 48 31,731 32,977 34,156 35,931 36,831 38,544 40,440 43,376 49 31,917 34,396 36,755 39,293 42,055 45,839 49,822 53,668 50 47,431 48,467 49,031 51,268 53,054 54,275 56,692 58,990 51 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth Memo: 48 Total owner-occ. real estate Home mortgages as percent of 49 owner-occ. real estate 50 Total nonprofit real estate 51 Inventories of nondurable goods, not included in totals above Data are in millions of dollars. Z October 1988 Households ' Households Sector Balance Sheet with Tangible Assets at Current Cost 23 Year-End Outstandings 1964 Year-End Outstandings 1965 1966 1967 1968 1969 1970 1971 Households, Personal Trusts, and Nonprofit Organizations 1 727, 082 766, 263 844, 294 899, 889 1, 002, 422 1, 096, 434 1, 167, 540 1,,278, 091 Tangible assets 2 3 4 5 6 7 632, 338 369,896 361, 593 8, 303 38, 729 223, 713 666, 696 387,853 378,819 ' 9,034 42, 782 236, 061 724, 631 418, 458 408, 411 10, 047 47, 686 258, 487 774, 791 440, 261 429, 580 10, 681 51, 320 283, 210 864, 190 492, 374 480, 332 12, 042 57, 599 314, 217 946, 103 537, 610 524, 443 13, 167 64, 763 343,,730 1, 009, 750 565, 594 551,,874 13,,720 71,,722 372,,434 1,,103, 707 629, 273 614, 337 14, 936 80, 703 393, 731 8 9 10 94, 744 79, 550 15, 194 99, 567 83, 340 16,,227 119, 663 102, 103 17, 560 125, 098 107, 395 17, 703 138, 232 120,,083 18,,149 150,,331 131,,111 19,,220 157,,790 137,,968 19,,822 174, 384 153, 584 20, 800 11 1,760, 763 1,915,,858 1,935,,623 2,177,,835 2,,431, 876 2,,405,,415 2,,486,,857 738,,557 109,,368 380,,693 790,,912 118,,185 410,,738 12 13 14 15 16 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 2 ,750,,862 Total financial assets 510,,532 81,,284 259,,762 550 1 ,452 88,,744 287,,032 587,,137 91,,130 305,,172 637,,052 101,,013 339,,729 693,,724 111,,930 366,,313 1,,779 2 ,436 3,,449 4,,085 8,,411 3 ,141 14 ,982 13,,195 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr Small time 8 savings dep. Money market fund shares Large time deposits 247 ,007 102 ,078 52:,089 32 ,081 17 ,908 239,,687 90,,599 54,,416 22,,147 14,,036 Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues *61,,757 130,,378 478,,497 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 17 18 19 20 21 167 ,707 77 -385 49 ,060 26 ,674 1 »651 172 ,240 78 ,875 49 ,695 26 ,828 2 ,352 187,,386 85 ,624 50 ,249 28 ,883 6 ,492 192,,225 85,,835 51,,219 28,,485 6,,131 207,,070 91,,010 51,,866 32,,582 6,,562 245 ,355 107 ,369 51 ,770 43 ,770 11 ,829 22 23 24 25 34 ,627 9 ,037 41 ,747 4 ,911 36 ,412 8 ,979 42 ,186 5 ,788 40 ,443 10 ,301 44 ,191 6 ,827 38,,118 14 ,558 45 ,989 7 ,725 37,,577 19,,887 48 ,448 10 ,148 46 ,871 24 ,944 50 ,669 15 ,502 46 ,019 35 ,614 51 ,543 11 ,753 46,,116 45,,979 48 ,873 8 ,120 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 564 ,137 28 ,447 535 ,690 634 ,903 34 ,410 600 ,493 574 ,770 33 ,850 540 ,920 719 ,291 42 ,972 676 ,319 856 ,467 49 ,529 806 ,938 744 ,688 45 ,577 699 ,111 727 ,152 44 ,500 682 ,652 830 ,966 53 ,006 777 ,960 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 101 ,051 139 ,230 105 ,876 155 ,494 110 ,570 165 ,127 115 ,535 187 ,312 120 ,324 209 ,055 125 ,362 219 ,770 130 ,703 240 ,819 137 ,055 277 ,895 Life insurance reserves Pension fund reserves 29 30 31 428 ,434 449 ,617 477 ,090 493 ,854 523 ,622 548 ,054 566 ,570 609 ,652 Equity in noncorp. business 5 ,221 23 ,763 4 ,354 26 ,347 4 ,886 28 ,651 Security credit Miscellaneous assets 32 33 1 ,669 15 ,710 2 ,533 16 ,983 2 ,730 18 ,199 4 ,943 19 ,848 7 ,039 21 ,645 34 2,487 ,845 2,682 ,121 2,779 ,917 3,077 ,724 3 ,434 ,298 3 ,501 ,849 3 ,654 ,397 35 323, 267 354, 165 377, 983 403, 077 438, 980 470,,266 492, 640 541,,434 Total liabilities 471, 753 290, 047 19,.042 516,,911 314,,761 20,,251 32 33 4 ,028 ,953 Total assets 36 37 38 39 40 41 309, 040 197, 315 12, 258 338, 733 214, 287 13, 396 362, 142 228, 453 14, 562 382, 758 240, 744 15, 626 414, 918 257, 666 16,,701 448,,643 276,,225 17,,884 65, 572 21,,808 73, 881 23,,628 79,,339 24,,110 83,,148 25, 448 91,,681 27,,675 101,,161 28,,280 105,,528 28,,489 118,,255 31,,478 42 43 2,,932 9,,155 3, 571 9,,970 3,,737 11,,941 4,,530 13,,262 5,,880 15,,315 6,,794 18,,299 7,,747 20,,900 9,,893 22,,273 44 45 8,,362 2,,826 9,,098 3,,031 9,,025 3,,157 12,,709 3,,663 15,,627 4,,133 12 ,225 4 ,710 10,,445 5,,324 13,,109 5,,978 46 3,,039 3,,303 3,,659 3,,947 4 ,302 4 ,688 5 ,118 5 ,436 47 2,164 ,578 2,327,,956 2,401,,934 2,674,,647 2,995,,318 ,031 ,583 3,161,,757 655 ,554 689 ,842 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 3,487 ,519 Net worth 35 36 37 38 39 40 41 42 43 44 45 46 47 Memo: 48 49 50 51 441 ,143 44 ,728 58 ,217 62 ,654 462 ,159 46 ,366 510 ,514 44 ,749 63 ,747 67 ,463 Data are in millions of dollars. 70 ,602 73 ,918 536 ,975 44 ,833 74 ,639 79 ,139 600 ,415 42 ,914 8 2 ,395 86 ,692 48 42 ,136 42 ,045 767 ,921 Total owner-occ. real estate Home mortgages as percent of 40 ,988 owner-occ. real estate 91 ,380 99 ,109 109 ,936 Total nonprofit real estate 50 96 ,649 Inventories of nondurable goods, 100 ,890 not included in totals above 51 92 ,994 49 October 1988 Households 14 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1972 1973 1974 1975 1976 1977 1978 1979 Households, Personal Trusts, and Nonprofit Organizations 1 Tangible assets 2 3 4 5 6 7 8 9 10 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 1 ,411 ,761 1 ,610 ,115 1 ,846 ,295 1 ,999 ,707 2 ,253 ,408 2 ,614 ,292 3 ,077 ,067 3 ,505 .641 1 1 ,217 ,683 704 ,217 687 ,415 16 ,802 88 ,782 424 ,684 1 ,380 ,103 811 ,130 791 ,680 19 ,450 98 ,473 470 ,500 1 ,584 ,521 924 ,847 902 ,948 21 ,899 115 ,495 544 ,179 1 ,719 ,067 1 ,002 ,482 978 ,640 23 ,842 120 ,886 595 ,699 1 ,915 ,331 1 ,132 ,835 1 ,106 ,144 26 ,691 129 ,743 652 ,753 2 ,194 ,043 1 ,326 ,945 1 ,296 ,125 30 ,820 141 ,601 725 ,497 2 ,551 ,222 1 ,563 ,035 1 ,527 ,137 35 ,898 167 ,725 820 ,462 2 ,876 ,087 1 ,775 ,372 1 ,734 ,013 41 ,359 175 ,421 925 ,294 2 3 4 5 6 7 194 ,078 171 ,854 22 ,224 230 ,012 205 ,837 24 ,175 261 ,774 234 ,766 27 ,008 280 ,640 254 ,446 26 ,194 338 ,077 309 ,720 28 ,357 420 ,249 388 ,837 31 ,412 525 ,845 488 ,684 37 ,161 629 ,554 8 589 ,564 9 39 ,990 10 3 ,049 ,292 3 ,085 ,349 3 ,079 ,813 3 ,525 ,740 3 ,985 ,324 4 ,320 ,828 4 ,861 ,323 5 ,622 ,468 11 12 13 14 15 16 Deposits 8 cr. mkt. Instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 945 ,289 142 ,379 547,,627 1 ,042 ,303 151 ,031 587 ,155 16,,101 38 ,302 1 ,145 ,613 157 ,002 624 ,385 2 ,379 55 ,491 1 ,251 ,292 162 ,498 721,,008 3,,696 36,,148 1 ,384 ,901 176 ,234 837 ,196 3 ,686 25,,610 1 ,539 ,842 192 ,516 932,,686 3,,443 34,,115 1 ,715 ,955 217 ,533 998 ,397 9 ,436 64 ,214 1 ,937 ,808 250 ,114 1 ,058 ,176 40 ,032 72 ,126 12 13 14 15 16 17 18 19 20 21 Credit market instruments U.S. govt, securities Savings conds Other Treasury issues Agency issues 239,,182 87,,921 57, 667 20, 477 9,,777 265 ,815 101 ,785 60 ,354 30 ,892 10:,539 306 ,356 115 ,638 63 ,338 37 ,679 14,,621 327,,942 131,,720 67,,363 54,.253 10,,104 34% ,175 134,,596 72,,018 52 ,935 9,,643 377,,082 149,,049 76,,762 63,,558 8,,729 426 ,375 175 ,240 80 ,691 79 ,180 15 ,369 517 ,360 238,,066 79,,876 122,,903 35,,287 17 18 19 20 21 61,,860 58,,790 52,,138 17,,930 68,.061 67,.140 55,.301 5,.720 69,,299 78,,264 59,,696 320 67, 566 79,,385 66,.534 14,.548 70 ,182 75 ,469 75 ,957 29,,527 80,,553 72,,308 89,,426 37,,007 22 23 24 25 11 Total financial assets 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 48 i .373 49,,512 49,,825 3, 551 26 27 28 Corporate equities Mutual fund shares Other corporate equities 918, 369 56,,383 861, 986 707,,256 43,,695 663,,561 491,,676 31,,812 459,,864 637,.360 38, 749 598, 611 754,,315 41,,436 712,.879 708, 824 40, 354 668, 470 704,,952 41,,079 663, 873 856, 953 26 44, 797 27 812,,156 28 29 30 Life insurance reserves Pension fund reserves 143, 930 331, 312 151,,278 337,,982 158,,399 345,,327 166, 483 444, 059 175,,268 507,.488 184,802 560, 329 195,.992 661, 515 206. 692 29 767. 072 30 31 Equity in noncorp. business 674, 051 807,,540 898,,105 981, 526 1, 111, 618 1, 268, 349 1,514, 844 1, 776.856 31 32 33 Security credit Miscellaneous assets 5, 022 31, 319 4,,866 34, 124 3,,891 36,,802 4, 468 40, 552 5, 730 46, 004 5, 739 52, 943 8, 521 59, 544 10, 354 32 66. 733 33 4, 461, 053 4, 695, 464 4, 926, 108 5,,525,447 6, 238, 732 6, 935, 120 7, 938, 390 9. 128, 109 34 34 Total assets 53,,658 51,, 196 48,,838 10,,338 35 Total liabilities 607 ,784 680 ,419 730 ,703 779 ,621 875 ,860 1 ,014 ,303 1 .182 .950 1 .358 ,215 35 36 37 38 39 40 41 577 ,635 353 ,027 21 ,547 133 ,173 35 ,596 653 ,597 396 ,811 22 ,640 400 155 ,108 38 ,378 703 ,972 431 ,433 23 ,736 1 ,300 164 ,594 37 ,885 750 ,408 469 ,666 24 ,775 2 ,700 168 ,703 38 ,881 838 ,448 529 ,438 25 ,623 4 ,700 188 ,698 41,,735 974 ,474 619 ,185 26 ,730 8 ,100 223 ,669 43 ,483 1 ,158 ,533 727 ,675 28 ,056 10 ,700 264 ,712 47 ,570 1 ,310 ,591 846 ,880 29 ,559 13,,600 300 ,313 52,,448 10 ,684 23 ,608 14 ,086 26 ,174 15 ,640 29 ,384 14,,139 31,,544 14,,868 33,,386 17 ,591 35,,716 20,,096 39,,524 21,,673 42 45,,918 43 17 ,537 6 ,636 13 ,193 7 ,253 11,,387 8,,258 12,,113 9 ,356 16,,511 10,,526 18,,861 11,,684 21,,047 15,,201 21,,254 44 14,,876 45 5,,976 6 ,376 7,,086 7,,744 8,,375 9,,284 10,,349 11,,692 46 3,853,,269 4,015,,045 4 ,195,,405 4 ,745,,826 5,364,,872 5 ,920,,817 6,,755,,460 7,,769,,896 47 48 Total owner-occ. real estate Home mortgages as percent of 49 owner-occ. real estate 859,,269 997,,517 1,,137,,714 1 ,255,,086 1.415,,864 1,,684,,962 2,,015,,821 2,,325,,577 48 41,,084 39,,779 37,,921 58,,088 57,,593 36,,747 56,,098 56, 447 49 50 Total nonprofit real estate 120, 953 134,,665 155,,478 161,,118 174,,385 192, 625 228, 656 245, 599 50 108,.952 121, 757 134,,615 140,,317 152, 061 164,,441 182,.465 202, 514 51 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth 36 37 38 39 40 41 Memo: 51 Inventories of nondurable goods, not included In totals above Data are In millions of dollars. October 1988 Households Households 15 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1987 1982 Households* Personal Trusts, and Nonprofit Organizations 1 3.874,877 4, 257, 978 4. 268, 701 4, 614, 510 4,894, 553 5,,187,431 5, 624, 153 6, 128, 236 2 3 4 5 6 7 3, 163, 164 1. 949, 347 li,902,860 46, 487 193,848 1. 019, 969 3, 421, 915 2, 113, 007 2, 062, 051 '50, 956 212, 434 1, 096, 474 3. 427, 487 2. 068, 026 2. 017, 467 50, 559 217, 772 689 141, 1. 3, 681, 087 2, 240,810 2, 187, 547 53, 263 233, 395 1, 206, 882 3, 905, 225 2, 372, 946 2, 316, 297 56, 649 246, 302 1, 285, 977 4,,147,866 2,,495,844 2,,436, 413 59, 431 254, 353 1,,397, 669 4, 462, 729 2, 664, 112 2,,602,423 61, 689 263, 781 1,,534,836 4, 864, 714 2, 901,,941 2,835, 960 65, 981 278, 694 1,,684, 079 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant & equip, Consumer durables 8 9 10 711, 713 666, 001 45. 712 836, 063 783. 579 52, 484 841, 214 786,812 54, 402 933, 423 875, 019 58, 404 989, 328 926, 519 62, 809 1,,039, 565 974, 565 65, 000 1,,161, 424 1,,093, 018 68, 406 1,,263, 522 1,,191, 103 72, 419 Land Owner-occupied Nonprofit institutions 8 9 10 11 6.,544, 956 7, 031, 661 7, 564, 636 8,,304, 952 8,,809, 097 9,,835, 928 10,,671, 670 11,,179, 426 3,,742, 165 472, 549 1,,946, 216 248, 730 67, 155 4,,030, 928 481, 994 2,,017,850 277,,610 84,,621 Deposits 8 cr. mkt. lnstr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 12 13 14 15 16 2 5 4 5 6 7 12 13 14 15 16 2,,130, 362 260, 672 1 ,140,,680 64,,878 111,,516 2,,358,,590 293,,619 1,,188,,185 155,,620 125,,641 2,,585, 238 315, 831 1,,322, 485 189, 439 98, 998 2,,856, 043 342,,041 1,,532,,562 158,,350 74,,027 3,,236, 937 363,,665 1,,685,,871 202,,399 128,,916 3,,540, 040 387, 644 1,,829, 833 214, 510 99, 192 17 18 19 20 21 552,,616 259,,107 72,,528 146,,373 40,,206 595,,525 294,,127 68,,190 181,,185 44,,752 658, 485 342, 496 68, 346 227, 705 46, 445 749,,063 393, 843 71,,485 286,,743 35,,615 856,,086 480,,652 74,,515 352,,281 53,,856 1,,008, 861 551, 934 79, 777 390, 657 81,,500 1,,007, 515 532, 374 93, 332 370, 416 68, 626 1,,168, 853 586, 654 101,,103 406,,482 79,,069 22 23 24 25 86,,913 59,,302 106 ,981 40 ,313 98,,044 55,,932 117 ,346 30,,076 120, 235 53,,458 126,,082 16,,214 157,,799 45,,393 127,,073 24,,955 183,,198 44,,498 128,,160 19,,578 223,,202 47,,566 127,,504 58,,655 217, 841 82,,427 127, 789 47,,084 281,,935 92,,207 134,,233 73,,824 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 1 ,163,,384 52 ,059 1 ,111 ,325 1 ,104 ,063 52 ,639 1 ,051 ,424 1 ,240,,141 66,,696 1 ,173,,445 1 ,421,,142 97,,967 1 ,323,,175 1,,440,,828 117,,685 1 ,323,,143 1 ,888,,308 203,,035 1 ,685,,273 2 ,207,,460 356, 824 1 ,850,,636 2 ,106,,821 409,,068 1,,697,,753 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 216 ,427 916 ,065 225 ,627 996 ,943 232,,799 1 ,179,,221 240,,792 1 ,392 ,083 245,,994 1 ,531 ,983 256,,711 1 ,801,,622 274,,226 2 ,057,,672 300,,272 2,,261,,789 Life Insurance reserves Pension fund reserves 29 30 2 ,253 ,203 2 ,224,,103 2 ,273 ,760 2 ,229 ,242 ,131 2 • 190, 2 ,192,,505 2 ,271,,822 44,,015 153,,627 37 ,199 170,,595 31 2 ,030 • 108 32 33 16 ,236 72 ,374 14 ,729 78 ,506 17 ,838 85 ,296 20 ,557 100 ,575 21 ,573 102 ,540 35 ,051 124,,065 34 10 ,419 ,833 11 ,289 ,639 11 ,833,,337 12 ,919 ,462 13 ,703 ,650 15 ,023,,359 16 ,295,,823 35 1 •488 ,745 1 • 610.797 1 .693 ,566 1 ,891 ,452 2 ,116 ,365 2 • 414,438 2 ,703,,604 2 ,934 ,688 2 ,836 ,484 1 ,878 ,145 48 ,430 78 ,178 623 ,628 73 ,306 36 37 38 39 40 41 1 ,430 ,156 942 ,376 31 ,486 16 ,700 302 ,062 53 ,329 1 ,548 • 787 1 ,020 ,313 33 ,781 21 ,100 315 ,547 56 • 749 1 .625 ,521 1 ,059 ,685 36 ,428 29 ,600 330 ,373 58 ,315 1 ,811 ,628 1 • 176,047 38 ,917 41 ,000 374 ,478 63 ,174 2 ,038 ,156 1 ,310 ,132 41 ,368 51 ,171 449 ,489 69 ,811 2 ,314 ,476 1 ,460 ,606 43 ,770 81 ,334 526 ,470 75 ,332 2 ,594,,217 1 ,669 ,935 46 ,124 79 ,142 581 ,336 74 ,880 Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 17 18 19 20 21 Equity in noncorp. business 31 Security credit Miscellaneous assets 32 33 17 ,307 ,662 Total assets Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans 36 37 38 39 40 41 42 43 42 43 29 • 469 54 • 734 35 • 507 65 ,790 37 ,882 73 ,238 41 ,503 76 • 509 36 ,742 79 ,443 43 ,686 83 ,278 54 ,374 88 ,426 47 ,408 87 ,389 44 45 28 • 492 17 ,158 27 ,465 19 •823 30 ,310 22 ,220 39 ,741 23 ,984 37 .336 25 .765 56 ,779 27 ,974 64 ,979 30 ,523 49 ,677 33 ,434 46 12 • 939 14 .722 15 ,515 16 ,099 15 .108 15 ,209 13 .885 15 ,093 47 8 ,931 • 088 9 .678 .842 10 ,139 ,771 11 • 028• 010 11 .587 .285 12 • 608,921 13 ,592 ,219 14 ,372 ,974 48 2 • 568•861 2 •845 ,630 2 .804 • 279 3 • 062• 566 3 .242 .816 3 • 410,978 3 ,695 ,441 4 ,027 ,063 49 36 .684 35.855 37 .788 38 • 400 40 .401 42 •820 45 • 189 50 270 ,633 298 .268 303 .158 323 • 662 342 .508 353 ,475 366 • 190 386,771 386 ,771 Total nonprofit real estate 50 324 • 635 Im 354 ,732 51 51 218 • 426 235 • 405 246 .446 263 .379 284 ,348 304 • 362 46 ,638 Security credit Trade credit Deferred and unpaid life insurance premiums 44 45 Home mortgages as percent of owner-occ. real estate October 1988 Farm & Noncorporate Business 16 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1948 1949 1950 1951 1952 1953 1954 1955 Farm Business 103 ,332 101 ,394 122 ,739 136 ,402 156,,859 154 ,811 157 ,732 142 ,451 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 50 ,106 16 >266 14 ,536 19 ,304 49 ,967 16 ,841 16 ,462 16 ,664 59 ,398 17 ,937 19,,007 22,,454 65 ,202 18 ,854 21 ,440 24 ,908 65,,178 19 ,121 22 ,750 23,,507 64 ,516 19 ,151 25 ,565 22 ,000 64 ,212 19 ,542 25 ,670 21 ,200 64 ,549 19 ,659 24 ,810 19 ,900 2 5 4 5 6 Land 53 1226 51 ,427 63,,341 71 ,200 71,,681 70 ,295 75 ,520 78 ,082 6 8 ,459 8 ,035 8,,068 8 ,527 8,,314 8 ,291 8 ,264 8,,372 7 7 ,500 959 844 115 7 ,000 1 ,035 918 117 7,,000 1,,068 949 119 7 ,200 1 ,127 1 ,005 122 7,,100 1,,214 1,,088 126 7 ,000 1 ,291 1 ,159 152 6 ,900 1 ,564 1 ,227 157 6 ,900 8 1 ,472 9 1 ,324 10 148 11 111,,791 109 ,429 130,,807 144 ,729 145,,175 145 ,102 145 ,996 150,,805 12 1 Tangible assets 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 9 ,294 9 ,880 11,,221 12 ,944 15,,879 15 ,562 14 ,455 16,,058 15 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 8 ,082 5 ,288 1,,946 848 243 605 8 ,474 5 ,579 2 ,049 846 228 618 9,,532 6,,071 ,524 957 244 695 10 ,819 6 ,651 5, • 120 1,,048 199 849 11,,609 7,,236 3,,295 1,.080 215 867 11 ,509 7 ,757 2 ,712 1,,060 445 615 12 ,281 8 ,246 2 ,862 1 ,175 508 665 15,,725 9,,022 5.,434 1,,267 574 695 20 Trade debt 1,,212 1 ,406 1,,689 2,,125 2,,270 2 ,055 2 ,154 2,,555 20 102,,497 7,,175 95,,322 99 ,549 6 ,968 92,,581 119,,586 8,,571 111:,215 131,,785 9 ,225 122,,560 151,,294 9,,191 122,,105 129,,540 9,,068 120,,472 151,,561 9 ,209 122,,552 134,,745 21 9,,452 22 125,,513 25 76,,032 75,,075 88,,949 98,,687 100, 009 98,,871 102,,540 108, 171 24 13 Total liabilities 21 Net worth Corporate farms 22 Noncorporate farms 23 2- 14 15 16 17 18 19 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 15 Demand deposits 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 14 15 16 17 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 18 Total assets 19 Total liabilities 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial 149 ,067 152 ,572 165 ,420 175,,759 179,,962 184,,512 189,,980 200,,657 1 105,,798 66 ,072 25 ,727 11 ,999 105 ,296 67 ,467 26 ,796 11 ,055 115 ,297 71 ,745 50 ,090 15 ,462 122,,778 75,,597 55,,166 14,,215 124,,640 76,,656 54,,122 15,,882 126,,725 77,,081 55,,264 14 ,578 129,,181 78 ,479 36,,426 14,,276 136,,513 81,,055 40 ,303 15,,155 2 3 4 5 45 ,269 47 ,276 50 ,125 52,,981 55,,522 57 ,789 60,,799 64 ,144 6 18 ,660 19 ,424 21 ,197 21,,595 22,,689 25,,550 24,,018 24,,500 7 9 ,949 10 ,515 10,,558 10,,777 10,,429 10,,577 10,,907 11,,200 1 ,574 1 ,811 2,,175 2,,500 2,,674 2,,802 2,,804 5 ,954 5 ,995 7,,091 6,,974 7,,858 8,,253 8,,174 1,,205 1 ,505 1,,289 14 1 ,595 1,,578 15 1 ,544 1,,527 17 1,,748 1,,750 18 1,,958 1,,919 19 2,,155 2,,115 20 2,,285 14 2,,262 15 21 16 17 1,,190 15 - - - 167,,727 171,,996 186,,617 197,,354 202,,651 207,,862 213,,998 224,,957 18 15 ,445 16,,086 19,,052 20,,194 21,,996 23,,297 25,,902 28,,920 19 10,,555 5 ,810 1 ,095 3 ,713 1 ,004 10,,856 6,,561 1,,031 4 ,297 1,,033 12,,792 7,,511 1,,428 5,,034 1,,049 14 ,117 8,,167 1,,364 5,,705 1,,098 15,,452 8,,857 1,,587 6,,128 1,,142 16,,028 9,,207 1,,547 6,,451 1,,209 17,,025 9,,923 1,,872 6,,726 1,,325 18,,860 10,,628 2,,016 7,,142 1,,470 855 5 ,642 1 ,278 4,,003 1 .508 4,^442 1,,721 4,,874 1,,782 5,,039 1,,866 5,,236 5 ,250 6 ,260 25 26 Bank loans n.e.c. Other loans 1 ,066 3 ,459 27 28 Other taxes payable Trade debt 5 ,110 29 Miscellaneous liabilities 30 Net worth 8 9 10 2,,910 11 12 7,,907 13 - - - - - - 6,,077 - - 6,,544 - - 7,,269 - - 8,,877 - 20 21 22 23 24 2,,388 25 5,,844 26 27 10,,060 28 " 29 152 ,282 155 ,910 167 ,565 177,,160 180,,655 184,,565 188,,096 196,,037 30 125 ,802 129 ,187 137 ,609 145,,469 J 4 9 ,376 152,,559 157,,556 165,,459 31 Memo: 31 Total noncorp. bus.real estate Data ere in millions of dollars. October 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost 17 Year-End Outstandings Year-End Outstandings Farm Business 1 150, 569 200,,695 Tangible assets 158, 662 169,,340 175,,951 178,,627 185,,099 191,,469 68,,969 19,,382 27,,487 22,,100 70,,125 19,,235 27,,590 23,,300 70,,946 19, 186 27,,960 23,,800 73,,044 19,,091 28,,753 25,,200 74,,381 18,,795 ' 29,,886 25,,700 126,,314 2 3 4 5 Land 6 2 3 4 5 65, 561 19, 759 25,,902 19,,900 67, 181 19, 610 26, 371 21, 200 6 85,,008 91, 481 100,,436 106,,982 108,,502 114,,153 118 ,425 7 8,,251 8,,218 8,,584 7 ,982 7,,646 7,,731 7 ,865 7,,825 Total financial assets 8 9 10 11 6,,700 1,,551 1,,390 161 6,,600 1,,618 1,,446 172 6,,900 1,,684 1,,502 182 6,,200 1,,782 1 ,584 198 5,,800 1,,846 1,,635 211 5,,800 1,,931 1,,704 227 5 ,900 1,,965 1 ,724 241 5,,700 2,,125 1,,869 256 12 158,,820 166,,880 177 ,924 183 ,933 186 ,273 192 ,830 199 ,334 13 16 ,982 18,,274 20 ,078 22 ,433 23 ,623 25,,322 27 ,626 31,,038 Total liabilities 14 15 16 17 18 19 14 ,581 9 ,835 3 ,375 1 ,371 624 747 15 ,638 10 ,397 3 ,759 1 ,482 550 932 17 ,002 11 ,109 4 ,172 1 ,721 565 1 ,156 18 ,934 12 ,101 4 ,866 1 ,967 577 1 ,390 19 ,965 12 ,838 5 ,062 2 ,065 564 1 ,501 21 ,558 13 ,917 5 ,305 2 ,336 686 1 ,650 23 ,856 15 ,193 6 ,087 2 ,576 736 1 ,840 26 ,406 16 ,822 6 ,688 2,,896 797 2,,099 20 2 ,401 2 ,636 3 ,076 3 ,499 3 ,658 3 ,764 3 ,770 4 ,632 21 22 23 141 ,838 9 ,929 131 ,909 148 ,606 10 ,402 138 ,204 157 ,846 11 ,049 146 ,797 161 ,500 11 ,305 150 ,195 162 ,650 11 ,385 151 ,265 167 ,508 11 ,726 155 ,782 171 ,708 12 ,020 159 ,688 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 208,,520 Total assets 7 8 9 10 11 12 13 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 14 15 16 17 18 19 Trade debt 20 177 ,482 Net worth Corporate farms 12 ,424 Noncorporate farms 165 ,058 21 22 23 158,917 Total farm real estate 139,902 116,116 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 68,,904 19,,437 26,,867 22,,600 Nonfarm Noncorporate Business 1 2 5 4 5 212, 549 143, 112 82. 643 44, 579 15,890 219, 296 146, 705 83, 342 46, 993 16. 370 225, 664 149, 568 84, 562 48, 120 16,886 233, 370 240, 944 247. 608 153, 684 86, 705 50, 098 16,881 156,,363 88,,475 51,,270 16,,618 159. 364 91. 048 52. 717 15. 599 257. 071 265, 377 Tangible assets 165. 313 94, 537 54, 996 15, 780 170, 112 97, 334 57, 649 15,.129 2 3 4 5 Land 6 6 69, 437 72, 591 76,,096 79, 686 84,,581 88, 244 91, 758 95, 265 7 26, 079 26. 427 28,,837 27,,268 27,,211 27, 755 27, 624 27,,579 Total financial assets 8 11,549 12, 356 13,,641 12,,707 12,,415 12, 515 12,,515 12,,515 3,,066 3, 107 3,,110 3,,431 3,,207 3,,135 3,,318 3,,558 9,,051 8, 378 9,,377 8,,234 8,,554 8,,904 8,,462 7,,961 2,,413 2,,392 21 2, 586 2, 560 26 2,,709 2,,677 32 2,,896 2,,856 40 3,,035 2,,987 48 3,,201 3,, 144 57 3,,329 3,,260 69 3,,545 3,,463 82 18 238,,628 245, 723 254,,501 260,,638 19 30,,985 31,,862 34,,000 20 21 22 24 19,,997 10,,865 1,,788 7 ,432 1 ,645 20,,875 11,,146 1,,671 7 ,660 1 ,815 22 ,374 12 ,276 1 ,823 8 ,422 2 ,031 26 2 ,993 6 ,139 3 ,078 6 ,651 3 ,239 6 ,859 27 28 10 ,988 10 ,987 11 ,626 10 11 12 13 14 15 17 29 - - - - - - - 8 9 10 11 12 13 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 14 15 16 17 292,,956 Total assets 275,,363 284,,695 35,,630 38 ,345 40,,262 42,,721 45,,236 Total liabilities 24 ,880 13 ,534 1 ,938 9 ,335 2 ,261 27 ,117 14 ,443 1 ,703 10 ,245 2 ,495 29,,643 16,,413 1,,821 11,,785 2,,807 32 ,672 18 ,772 2 ,001 13 ,585 3 ,186 37 ,004 21 ,424 2 ,002 15 ,825 3 ,597 3 ,632 7 ,714 3 ,969 8 ,705 4 ,345 8 ,885 4 ,716 9 ,184 5 ,308 10 ,272 10 ,750 11 ,228 10 ,619 10 ,049 - - - - - 8 ,232 - 7 Demand deposits 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 268,,155 - 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Credit market instruments Mortgages Home mortgages Multi-family Commercial 18 19 20 21 22 23 24 Bank loans n.e.c. Other loans 25 26 Other taxes payable Trade debt 27 28 Miscellaneous liabilities 29 30 30 207 ,643 213 ,861 220 ,501 225 ,008 229 ,810 235 ,101 241 ,974 247 ,720 Net worth 31 174 ,622 179 ,663 185 ,217 192 ,072 199 ,566 207 ,341 216 ,263 224 ,556 Total noncorp. bus.real estate 31 Memo: Data are in millions of dollars. October 1988 Farm 8 Noncorporate Business 18 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 9 1966 1970 1971 Farm Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 13 Total liabilities 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 20 Trade debt 21 Net worth 22 Corporate farms 23 Noncorporate farms 209,,693 74,,736 19,,129 31 , 107 24,,500 134..957 8,,217 5 ,900 2 ,317 2 ,038 279 217 • 910 33,,827 226,,082 237,,206 250,,236 262,,510 273 ,208 280,,544 302 ,727 1 80 492 19,,179 33,,313 28,,000 83,,516 20,,011 36,,105 27,,400 87 ,017 20 ,517 38 ,600 27 ,900 93,,008 22,.070 41,,838 29*100 100 ,796 23 ,387 45 ,609 31 ,800 104,,326 25,-998 49,,228 31,,100 114 ,556 25 ,515 53 ,641 35 ,400 2 3 4 5 145,,590 153,,690 163 ,219 169,,502 172 ,412 176 ,218 188 ,171 6 9 ,067 9,,646 10,,182 10 ,786 11 ,477 7 6 ,400 3,,782 3,,211 571 6 ,515 4,,271 3,,649 622 6 ,638 8 4 ,839 9 4 ,147 10 692 11 8,,497 8 ,704 6 ,000 2,,497 2,,178 319 6,,000 2,,704 2,,339 365 6 ,100 2 ,967 2 ,553 414 6,,300 3,,346 2,-830 516 234,,579 245,,910 259 ,303 272,,156 283 ,390 291,,330 314,,204 12 37 ,674 41,,274 44 ,377 46,,170 48 ,827 51,,430 55,,555 13 38 ,815 25 ,017 9 ,300 4 ,498 1 ,087 3 ,411 41,,583 27,,177 9,,718 4,,688 , 1 ,034 3,,654 44 ,617 28 ,995 10 ,328 5 ,294 1 ,019 4 ,275 47,,588 30 ,492 11,,155 5 ,941 967 4 ,974 51,,564 32,,381 12,,500 6 ,683 1 ,014 5 ,669 * 14 15 16 17 18 19 29 ,009 18 ,942 6 ,959 3 ,108 861 ,247 32,,311 21,,187 7,,667 3 ,457 941 2 ,516 , 35 ,504 23 ,052 8 ,600 3,,852 929 2 ,923 4 ,818 5 ,363 5 ,770 5 ,562 4,,587 4 ,210 3 ,842 3,,991 20 2 184 ,083 12 ,886 171 ,197 196 ,905 13 ,783 183 , 122 204 ,636 14 .325 190 ,311 214 ,926 15 ,045 199 ,881 225,,986 15,,819 210,,167 234 ,563 16.,419 218 ,144 239,900 16,,793 223,,107 258 ,649 18,,105 22 240,,544 23 168 ,478 180 ,056 190 ,150 201 ,099 210,,779 217:,131 223 ,781 240 ,213 24 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 17 Demand deposits 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit Miscellaneous assets Insurance receivables Equity in spons. agencies Other 18 Total assets 19 Total liabilities 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial 279,,761 319,.046 294, 332, 654 361, 384 392, 318 417,.227 458,.444 1 267, 688 155, 010 94,.332 18,.346 288, 539 165,, 106 104,,299 19,,134 322,,844 185,,471 115,,702 21,,671 2 3 4 5 6 180,,278 104,,041 61 .148 , 15,,089 191,,359 109,,329 66,,192 15,,838 207,.152 118,.118 72,.705 16,.329 218, 508 123, 952 77,.454 17,.102 242, 380 139, 706 85, 050 17, 624 99,,483 103,,451 111.,894 114, 146 119, 004 124,.630 128,,688 135,,600 28,,205 28,,572 29,,442 30,,359 29, 654 31,,177 32,,495 39 ,665 7 12,,515 12,,515 12,,515 12,,515 12,.515 12,,515 3,,785 4 ,044 3,,994 100 3,,878 300 3,.858 8,,106 7 ,930 8,,491 9,,022 7,,655 500 3,.754 300 8,.110 12,,515 1,,400 700 3,,875 700 6,,623 12,,515 3,,000 900 3,,776 1,.875 8,.123 8 9 10 11 12 13 5,,326 5,,187 139 5,.998 5,.846 152 6,.682 6,,515 167 9 ,476 7,,296 180 2 ,000 14 15 16 17 3,,799 3,,704 95 4 ,083 3 ,975 108 4 ,442 4,,325 117 4,,844 4,,716 128 307,,966 323 ,382 348 ,488 363,,013 391,,038 50 ,729 56 ,887 61 ,709 69 ,040 43 ,234 25 .877 1 ,902 19 ,095 4 ,880 50 ,257 30,750 1 ,997 21 ,846 6 ,907 56 ,623 34 ,761 1 ,598 24 ,245 8 ,918 63 ,857 40 ,883 2 ,102 27 ,045 11 ,736 - - - 423,,495 449,,722 498 ,109 18 77,,583 93,,585 106,,259 129 ,001 19 73,,404 47,,833 2,,224 29,,449 16,,160 88 ,366 57,,638 2,,008 32,,910 22,,720 101,,457 70,,042 2,,153 38 ,683 29 ,206 121 ,587 88 -251 3 ,050 46 ,740 38 ,461 25 26 Bank loans n.e.c. Other loans 5 ,806 11 ,551 6 ,708 12 ,799 8 ,079 13 ,783 8 ,784 14 ,190 9 ,866 15 ,705 12,,054 18,,674 11 ,696 19 ,719 27 28 Other taxes payable Trade debt 7 ,495 6 ,630 5 ,086 5 ,183 4 ,179 5 ,219 . 4 ,802 29 Miscellaneous liabilities 30 Net worth - - - - - - - " 20 21 22 23 24 12 ,604 25 20 ,732 26 1 ,037 27 4 ,377 28 2 ,000 29 257 ,237 266 ,495 286 ,779 293 ,973 313 ,455 329 ,910 343 ,463 369 ,108 30 237 ,636 250 ,257 271 ,116 281 ,664 307 ,138 334 ,432 354 ,843 390 ,632 31 Memo; 31 Total noncorp. bus.real estate Data are in millions of dollars. October 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 19 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings 1972 Year-End Outstandings 1973 1974 1975 1976 1977 1978 1979 Farm Business 1 343 ,169 428 ,138 474 ,955 533 ,762 614 ,730 677 ,313 798 ,038 2 5 4 5 130 ,499 27 ,165 59 ,034 44 ,300 161 29 66 *5 ,583 ,703 ,380 ,500 178 ,765 33 ,620 8 2 ,745 62 ,400 190 ,870 35 ,656 90 ,914 64 ,300 2 0 0 ,593 38 ,804 101 ,589 60 ,200 217 ,660 43 ,801 114 ,559 59 ,300 257 ,236 49 ,624 133 ,912 73 ,700 284 ,969 54 ,431 ' 149 ,838 8 0 ,700 642 ,502 927 ,471 Tangible assets 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 6 212 ,670 266 ,555 296 ,190 342 ,892 4 1 4 ,137 459 ,653 540 ,802 7 12 ,413 13 ,256 13 ,850 14 ,847 16 ,273 18 ,087 20 ,154 22 ,226 Total financial assets 8 9 10 11 6 ,900 5 ,513 4 ,731 782 7 ,100 6 ,156 5 ,214 942 6 ,940 6 ,910 5 ,762 1 ,148 7 ,010 7 ,837 6 ,453 1 ,384 6 ,947 9 ,326 7 ,718 1 ,608 7 ,035 11 ,052 9 ,197 1 ,855 7 ,137 13 ,017 10 ,891 2 ,126 7 ,284 14 ,942 12 ,406 2 ,536 12 355 ,582 441 ,394 488 ,805 548 ,609 631 ,003 695 ,400 8 1 8 ,192 13 61,,347 70 ,067 78 ,199 8 7 ,475 98 ,321 112 ,962 130 ,833 155 ,524 Total liabilities 13 14 15 16 17 18 19 56 ,813 35 ,361 14 i,306 , 146 1,, 0 5 0 6,,096 65 ,410 39 ,806 17 , 1 6 5 8 ,439 1,,241 7 ,198 73 ,319 44 ,922 18 ,236 10 ,161 1 ,313 8 ,848 82 49 20 12 2 9 ,136 ,853 ,199 ,084 ,089 ,995 92 ,180 55 ,412 23 ,230 13 ,538 2,,226 11,,312 105 ,939 63 ,949 2 5 ,729 16 ,261 3 ,502 12 ,759 122 ,194 72 ,757 28 ,211 21 ,226 7 ,009 14 ,217 145 ,723 86 , 7 5 5 31,033 27 , 9 3 5 10 ,391 17 ,544 Credit market instruments Mortgages Bank loans n.e.c. Other loans U . S . government Fed. Inter. Credit Banks 14 15 16 17 18 19 20 4,,534 4,,657 4 ,880 5,,339 6,,141 7 ,023 8 ,639 9 ,801 Trade debt 20 21 22 23 294,,235 20,,596 273,,639 371,,327 25,,993 345,,334 410 ,606 28 ,742 381 ,864 461,• 134 32,,279 428,,855 532,,682 37,,288 495,,394 582 ,438 40 ,771 541,,667 687 ,359 48 ,115 639 ,244 794 ,173 Net worth Corporate farms 55 ,592 738 ,581 Noncorporate farms 24 268,,648 328,,553 368 ,707 420,,590 499,,632 556,,374 656 ,128 767 ,965 Total farm real estate 7 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 949 ,697 Total assets 7 8 9 10 11 12 21 22 23 Memo: 24 Nonfarm N o n c o r p o r a t e Business 1 517,,207 597,,266 687 ,699 741,,703 822,,646 953,,995 1 ,136,,511 2 3 4 5 362,,841 212,,013 126,,814 24,,014 417,,059 246,,015 143,,735 27,,309 481 ,259 278 ,794 172 ,865 29,,600 511,,625 299,,525 184, 8 1 9 27,,281 558,,611 333,,078 197, 623 27,,910 632,,947 384,,099 219,,394 29,,454 742,,235 448,,918 260,,593 32,,724 867,,662 540,,884 291,,896 34,,882 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 154,,366 180,,207 206,,440 230,,078 264,,035 321,,048 394,,276 486,,223 Land 7 46,,149 64,,436 69,,236 71,,085 79, 8 9 0 96,,564 117,,233 138,,892 Total financial assets 8 9 10 11 12 13 12,,515 4,,600 1,,100 3,,694 3,,000 8,,770 16,,914 6,,213 1,,183 4,,019 3,,285 18,,626 17 ,263 7 ,784 1,,238 4,,048 3,,393 20,,368 17,,800 8,,088 1,,274 4,,056 3,,252 21,1171 19,,763 9,,490 1, 515 4,,321 4, 151 22, 009 22,,379 12,,127 2,,412 4,,127 5,,509 26,,156 25,,570 15,,522 3,,184 4,,308 8,,114 31,,478 28,,332 21,,269 2,,805 4,,453 11,,001 34,,894 Demand deposits 8 currency Time deposits U . S . government securities Consumer credit Mortgages Trade credit 8 9 10 11 12 13 14 15 16 17 12,,470 8,,278 192 4,,000 14,,196 9,,243 212 4,,741 15,,142 10,,229 246 4,,667 15, 4 4 4 11,,461 287 3, 696 18, 641 13, 518 360 4, 763 23, 854 16,,032 404 7, 418 29,,057 18,,917 531 9,,609 36,,138 21,,805 643 13,,690 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 14 15 16 17 18 563,,356 661,,702 756,,935 812, 788 902, 536 1 ,050, 559 1 ,253,,744 1 ,353,,885 Tangible assets 1 ,492,,777 Total assets 1 2 3 4 5 6 7 18 19 162,,944 199,,496 240,,694 260, 117 286, 312 323, 8 7 7 378,,144 454,,502 Total liabilities 20 21 22 23 24 151,,375 114,,527 3,,626 56,,660 54,,241 172,,319 116,,378 3,,226 64,,461 48,,691 208,,059 140,,863 3,,008 69,,961 67,,894 225, 040 152, 377 3, 635 70, 069 78, 673 246, 470 164, 062 5, 018 73, 937 8 5 , 107 278, 550 180, 787 6, 778 80, 350 93, 659 326, 468 204, 959 7, 573 88,,792 108, 594 392, 019 247, 167 7,,035 96, 366 143, 766 25 26 13,,667 23,,181 28,,647 27,,294 35,,988 31,,208 37, 680 34, 983 40, 354 42, 054 46, 393 51, 370 59, 649 61,,860 72, 8 1 5 72, 037 Bank loans n.e.c. Other loans 25 26 27 28 2,,489 5,,080 3,,985 17,,653 5,,545 20,,145 6, 602 20, 559 7. 785 22, 267 8, 871 23, 823 9,,951 25, 555 12, 795 31, 737 Other taxes payable Trade debt 27 28 29 4,,000 5,,539 6,,945 7, 916 9, 790 12, 633 16,,170 17,,951 Miscellaneous liabilities 29 30 400,,412 462,,206 516,,241 552,,671 616, 224 726,,682 875,,600 31 444 ,125 515,,357 5 9 2 ,280 641,,967 716,,372 837,,209 1 ,002,,718 Credit market instruments Mortgages Home mortgages Multi-family Commercial 1 ,038,,275 Net worth 19 20 21 22 23 24 30 Memo: Data are in millions of dollars. 1 ,201,,787 Total noncorp. bus.real estate 31 October 1988 Farm 8 Nonco te Business 20 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1980 1981 1982 1983 1984 1985 1986 1987 Farm Business 1 Tangible assets 1,022 ,794 1,026 ,435 984 ,568 972 ,160 861 ,154 757 ,697 692 ,689 703 ,595 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 311 ,138 59 ,241 167 ,397 84 ,500 325 ,874 63 ,118 181 ,202 81 ,554 322 ,985 61 ,872 181 ,865 79 ,248 327 ,445 63 ,752 184 ,328 79 ,365 329 ,495 65 ,618 183 ,017 80 ,860 313 ,161 65 ,960 175 ,723 71 ,478 300 ,660 65 ,748 168 ,731 66,,181 301 ,302 67 ,485 165 ,040 68 ,777 2 3 4 5 6 Land 711 ,656 700 ,561 661 ,583 644 ,715 531 ,659 444 ,536 392 ,029 402 ,293 6 24 ,199 26 ,053 27 ,859 29 ,126 29 ,365 32,,033 35 ,266 37 ,649 7 7 ,390 16 ,809 13 ,714 3 ,095 7 ,504 18 ,549 14 ,821 3 ,728 7 ,634 20 ,225 16,,110 4,,115 7 ,780 21 ,346 17 ,129 4 ,217 7 ,942 21 ,423 17,,144 4 ,279 8 ,120 23,,913 19,,918 3,,995 8 • 314 26,• 952 23,,536 3,,416 8 ,524 8 29,,125 9 26,,173 10 2,,952 11 1,046 ,993 1,052,,488 1,001 ,286 890,,519 7 Total financial assets 8 9 10 11 Demand deposits 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 13 Total liabilities 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 20 Trade debt 21 Net worth Corporate farms 22 Noncorporate farms 23 1,012,• 427 789,• 730 727,,955 741,,244 12 172 ,305 193 ,557 200,,615 203 ,784 202,• 203 187,• 438 170,,793 159,,634 13 161 ,477 97 • 487 31 ,566 3 2 , • 424 13,, 0 2 6 19,,398 177,,791 107,,229 32,, 9 2 0 37,,642 16,, 4 2 0 21,,222 184,,493 111,,311 36 -135 37,- 0 4 7 16, 657 20,,390 188 ,389 113 • 721 38,• 927 35, • 741 16,• 700 19,• 041 187,• 947 112,• 422 39,,907 35,,618 17,-800 17,-818 173, 438 105,,850 35, 507 32, 0 8 1 18,-189 13, 892 156,,607 95,-781 31.-240 29, 586 18, 023 11, 563 144,,874 88,,868 29,,053 26,,953 17,-650 9, 303 10,• 828 15,,766 16,,122 15,• 395 14,-256 14, 000 14. 186 14. 760 20 874 ,688 61,-228 813,,460 858,-931 60,-125 798,-806 811, 812 56, 827 754, 985 797,,502 55,,825 7 4 1 , ,677 688,-316 48,-182 640, 134 602, 292 42, 160 560, 132 557, 162 39, 001 518, 161 581, 610 21 40, 713 22 540, 897 23 850, 847 851, 654 812, 210 801,-836 693, 732 606, 773 554, 032 567, 203 24 14 15 16 17 18 19 Memo: 24 Total farm real estate Nonfarm Noncorporate Business 1,587 ,847 1 ,837 ,819 1 ,934 ,297 2 ,061 ,311 2 ,219 ,481 2 ,367 ,229 2 ,510 ,873 2,,662 ,889 1 2 3 4 5 1 Tangible assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 998 ,747 628 ,290 336 ,461 33 ,996 1 ,135,,583 710,,350 391,,737 33,,496 1 ,176 ,119 722 ,790 420 ,209 33 ,120 1 ,233 ,943 765 ,267 435 ,059 33,,617 1 ,316 ,521 824 ,875 455 ,239 36 ,407 1 ,389 ,151 874 ,619 475 ,690 38 ,842 1 ,441 ,203 908 ,469 492 ,734 40 ,000 1,• 531,901 970 ,661 516 ,376 44 ,864 2 3 4 5 6 Land 589 ,100 702,,236 758 ,178 827,,368 902,,960 978 ,078 1 ,069,,670 1,• 130,988 6 147 ,781 192,• 179 197 ,769 230,• 555 278,,531 317 ,291 360,,417 393 ,938 7 Total financial assets 7 8 9 10 11 12 13 Demand deposits 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 31 ,106 24 • 231 2,• 564 4 • 391 12,• 217 36,• 512 33,• 251 34,• 693 3,• 298 4,,409 20,,339 40,,888 36,,794 38 ,068 3 • 244 4 • 461 24,• 961 48,• 469 45 • 014 51,• 714 6,.023 5,• 128 29,• 305 55,• 264 49,• 826 65,• 056 5,• 481 5,• 523 39,• 311 61,• 753 61,• 297 76,• 585 5,• 754 5,• 841 43,• 983 65,,858 70,• 297 89,,585 6,,354 6,,251 47,,211 69,-058 76 ,797 99,• 085 6,• 954 6,,636 50,,539 72,,258 8 9 10 11 12 13 14 15 16 17 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 36,• 760 24,,279 755 11,,726 55,,301 26,,334 836 28,,131 41,• 772 28,• 362 865 12,,545 38,• 107 23,,801 841 13,,465 51,,581 34,,838 861 15,• 882 57,,973 38,,642 833 18,• 498 71, 661 43, 451 771 27, 439 81,-669 49,,497 733 31,• 439 14 15 16 17 18 Total assets 19 Total liabilities 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multi-family Commercial 1,735,,628 2,,029,,998 2,,132,,066 ,866 2,• 291, • 012 2,• 498, ,520 2,• 684, 2,,871,-290 1 ,054,,521 1 ,196 ,946 1 ,325,,902 19 1 ,025 ,901 723 ,275 24 • 819 224 ,069 474 ,387 1 ,141,,691 20 811,• 275 21 25,• 240 22 246,• 999 23 539,• 036 24 518 ,980 575 ,601 662 ,948 759 ,783 908 ,904 447 ,805 288 ,822 7 ,954 102 ,515 178,,353 492 ,163 308 ,108 8,,544 103,,659 195,,905 563 • 987 373,• 095 15,• 056 114,• 005 244,• 034 645 ,842 436,,070 19,,057 131,,165 285 ,848 769 ,006 520 ,272 21 ,056 157 ,802 341 ,414 898,• 338 623 • 275 24,• 806 191,• 272 407,,197 3,-056,• 827 18 25 26 Bank loans n.e.c. Other loans 79,,267 79,,716 93,• 467 90,• 588 95,• 958 94,• 934 103,,504 106,,268 124 ,352 124 ,382 138,• 510 136,,553 154 ,843 147 ,783 165,• 505 25 164,,911 26 27 28 Other taxes payable Trade debt 15,,328 36,,446 13.,744 41,,560 15,• 235 45,• 322 17,,081 45 ,786 18 ,151 51 ,483 21,• 596 56,,858 23 ,996 61 ,320 25,,596 27 64,,886 28 29 Miscellaneous liabilities 19,,401 28,• 134 38,,404 51,,074 70 ,264 77 • 729 85 ,729 93,• 729 29 1,216,• 648 1 ,454,• 397 1 ,469,,118 1 ,532,• 083 1,,589 ,108 1,,629,• 999 1,,674 ,344 1,,730,• 925 30 1,420,•872 1,,655,,019 1,,744,,349 1 ,867,• 172 2,,019 ,341 2,,161,,790 2,,301,,809 2,,445,•898 31 30 Net worth Memo: 31 Total noncorp. bus.real estate Data are In millions of dollars. October 1988 Nonfinanclal Corporate Business Nonfinanclal Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 21 Year-End Outstandings 1948 Year-End Outstandings 1949 1950 1951 1952 1953 1954 Nonfinanclal Corporate Business, Excluding Farms 1 223 ,968 229 ,646 259 ,057 289 ,338 305 ,376 322 ,385 335 ,722 367 ,317 Tangible assets (current c o s t ) 367,317 1 2 3 4 5 196 4 138 53 199 ,964 4 ,385 146 ,192 49 ,387 226 ,442 4 ,725 161 ,498 60 ,219 253 ,337 4 ,981 178 ,656 69 ,700 266 ,376 5 ,069 190 ,493 70 ,814 279 ,398 5 ,113 201 ,575 72 ,710 287 ,429 5 ,206 210 ,965 71 ,258 314 ,382 5 ,359 230 ,103 78 ,920 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 ,229 ,219 ,191 ,819 6 27 ,739 29 ,682 32 ,615 36 ,001 39 ,000 42 ,987 4 8 ,293 7 81,,670 8 5 ,601 102 ,421 110 ,491 115 ,957 119 ,052 124 ,627 8 9 10 11 12 13 14 15 16 36,,256 21,,861 900 39,,260 22,,903 900 4 3 ,844 24,,222 900 46 ,437 25 ,859 900 46,,271 2 6 ,641 900 48 ,013 26 ,550 900 4 8 ,373 28 ,329 1,,100 53 ,428 29 ,282 1 ,000 10 12,>853 452 180 10 14,,697 485 265 57 17,,870 652 143 91 18,,653 844 90 75 17,,647 813 195 114 19,,240 1,,005 204 158 17,,523 972 291 129 21,,581 1,,219 217 5 2 ,935 142 ,089 Total.financial assets 142,089 8 9 10 11 12 13 14 15 16 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 17 18 19 20 21 22 23 24 17 4, 246 4,.646 5,,581 6,,190 7, 068 19 20 21 22 23 24 30, 259 10, 909 9, 625 1, 192 29, 471 12, 224 10, 700 1, 383 39,,593 13,,403 11, 788 1, 4 1 8 42, 989 14, 8 7 5 12, 979 1, 5 4 8 45, 849 16, 769 14, 721 1, 666 92 141 197 348 382 670 697 883 25 305, 638 315, 247 361, 4 7 8 399, 8 2 9 421, 333 441, 437 460, 349 509, 406 176,307 Total liabilities -x 7,,327 7,,672 8,,359 45,,003 18, 709 16, 253 1, 786 48, 388 20,,194 17,,631 1,866 57,,988 22,,314 19, 395 2, 034 7 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 103,198 102,543 125,659 139,843 145,453 150,363 154,441 27 28 29 30 31 32 33 63 ,484 65 ,409 72 ,255 8 0 ,575 8 7 ,524 91 ,827 96 ,565 104,998 31 ,971 13 ,074 1 ,093 2 ,949 9 ,032 34 ,874 13,,861 1,,031 3,,532 9,,298 36 ,498 15 ,135 1 ,428 4 ,267 9 ,440 39 ,792 16 ,179 1 ,364 4 ,937 9 ,878 4 4 ,497 17 ,215 1 ,587 5 ,353 10 ,275 48 ,012 18 ,101 1 ,547 5 ,670 10 ,884 51 ,547 19 ,732 1 ,872 5 ,939 11 ,921 54,564 21,598 2,016 6,348 13,234 34 35 36 37 38 39 16 ,327 14,,537 18 ,293 2 2 ,040 2 2 ,927 22 ,357 21 ,718 25,577 166 190 1,,245 511 162 214 1,,123 638 207 275 1,,231 616 269 313 1,,348 634 331 335 1,,564 655 402 376 1 ,626 953 531 602 1,,629 806 362 332 1,881 684 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 12,,118 24,,809 2,,787 9, 738 24,,455 2, 941 17,,252 32,,761 3,,391 21,,922 33,,688 3,,658 18,,672 35,,312 3,,945 19 ,271 35 ,014 4 ,251 15,,988 37,,255 4,,633 20,085 46,148 5,076 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 202,,440 212,,704 235,,819 259,,986 275,,880 291 ,074 305,,908 333,099 Net worth 44 117,,384 121, 652 131, 966 144,,164 152, 984 161,,351 170,,748 185,168 Total corp. real estate 44 Market value of equities, 269,173 including corp.farm equities (Net worth of corporate farms, 9,432 from farm sector table) 46 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 27 28 29 30 31 32 33 43 Memo: 45 83,,862 92, 205 116,,647 138, 2 5 0 149,,941 144,,776 216,,033 46 7,,175 6, 968 8,,371 9,,225 9. 191 9,,068 9, 209 47 48 31,,359 75,,700 30, 751 70, 938 30, 640 61, 943 30, 992 58. 2 8 2 31,,725 58. 372 31,,547 63,,426 31, 566 44, 699 49 41,,425 43, 348 49,,464 53. 175 54. 350 49, 738 70. 620 50 149 ,148 154,,658 174 ,438 196 ,820 210,,204 226 ,060 236 ,438 256 ,302 Tangible assets 50 51 52 53 54 140,,329 1 ,963 8 9 ,476 48,,890 145,,645 2,,129 98 ,203 4 5 ,313 165 2 107 55 187 ,192 2 ,422 119 ,918 64 ,852 200,,837 2,,519 132,,216 66,,102 216 ,141 2 ,627 145 ,603 67 ,911 226 ,174 2 ,732 157,,140 66,,302 245 ,383 2 ,847 169,,571 72,,965 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 31,521 Debt-net worth ratio (27/43) 39,007 Debt-equities ratio (27/45) Ratio of market value 80,808 to net worth (45/43) 45 47 48 49 Tangibles and net worth on historical cost basis: ,131 ,314 ,716 ,101 55 8,,819 9,,013 9 ,307 9 ,628 9,,367 9 ,919 10,,264 56 230,,818 240,,259 276,,859 307 ,311 326,,161 345 ,112 361,,065 398 ,391 Total assets 56 57 127,,620 137,,716 151 ,200 167 ,468 180,,708 194 ,749 206,,624 222,,084 Net worth 57 58 57 ,783 61 ,691 66 ,015 71 ,822 77,,302 8 4 ,146 90,,298 97 ,055 Total corp. real estate 58 59 49 ,744 4 7 ,495 4 7 ,787 4 8 ,113 48,,433 4 7 ,151 46,,734 47,,278 Debt-net worth ratio (27/57) 59 10,,919 Memo: October 1988 Nonflnancial Corporate Business 22 Nonfinanclal Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1958 1959 1960 1961 1962 1963 Nonfinanclal Corporate Business# Excluding Farms 1 Tangible assets (current c o s t ) 410 ,238 439 ,521 453 ,142 476 ,880 493 ,209 508 ,781 527 ,068 547.336 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 349 ,921 5 ,462 257 ,504 8 6 ,955 371 ,645 5 ,542 277 ,332 8 8 ,771 378 ,522 5 ,750 285 ,999 8 6 ,773 396 ,473 6 ,076 297 ,664 92 ,723 407 ,705 6 ,348 305 ,767 95 ,590 417 ,655 6 ,758 313 ,132 97 ,765 434 ,026 7 ,361 323 ,884 102 ,781 452,321 8,014 325.628 108,679 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 Total assets 26 Total liabilities 27 28 29 30 31 32 33 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 1 60 ,317 67 ,876 74 ,620 8 0 ,407 8 5 ,504 91 ,126 93 ,042 95,015 6 147 ,210 151 ,876 163 ,502 178 ,716 181 ,736 194 ,579 206 ,757 222,448 7 48 ,893 28 ,990 1 ,000 48 ,458 29 ,024 1 ,000 50 ,992 30 ,083 1 ,900 56 ,185 29 ,196 1,,500 51 ,429 28 ,243 3 ,000 54 ,837 31 ,673 4 ,100 57 ,937 34 ,564 5 ,000 138 17 ,118 1,,342 305 131 16,,389 1,,479 435 149 16 ,692 1 ,958 210 132 22,,821 1,,794 742 148 16,,868 2,,382 788 236 15,,344 2,,395 1,,089 790 13 ,582 2,,697 1,,304 61,337 33,427 5,687 731 16,736 3,787 969 8 9 10 11 12 13 14 15 16 11,368 203 99,057 50,483 40,736 6,031 90 3,626 17 18 19 20 21 22 23 24 8 ,667 8,,692 8 ,848 10,,141 9,,643 9,,638 63,,789 25 •861 22, 505 .393 13 950 65,,414 29- 312 25, 394 2, 965 32 921 71,,812 311,850 27..409 3,,511 38 892 77,,363 35,.027 29, 827 4, 081 51 1, 068 82,,291 38, 373 865 , 4, 672 72 1, 764 88,,232 41 , .872 34,.717 5, 134 80 1. 941 10,,405 168 92,,757 45 490 37,,276 5, 684 90 2,,440 557, 448 591, 397 616,,644 655, 596 674, 945 703, 360 733, 8 2 5 769,784 25 Z1 189 ,299 198 ,502 208 ,404 226 ,929 237 ,908 253 ,353 270 ,265 292 ,238 26 115 ,395 124 ,982 133 ,378 143 ,732 153 ,676 163 ,561 176 ,047 58 ,040 23 ,225 1 ,788 6 ,632 14 ,805 64 ,072 24 ,857 1 ,671 6 ,855 16,,331 69 ,715 27 ,714 ,823 7 ,611 18 ,280 72 ,794 30 ,800 1 ,938 8 ,518 20 ,344 76 ,216 33 ,448 1 ,703 9 ,289 22 ,456 8 0 ,611 37 ,442 I,,821 10,,363 25,,258 84 42 2 11 28 188 ,313 27 28 8 8 ,414 29 46 ,780 30 2 ,002 31 12 ,403 32 32 ,375 33 ,643 ,084 .001 ,413 ,670 34 35 36 37 38 39 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 30 ,657 31,,866 31 ,527 35 ,310 37 ,458 38 ,401 41,,808 378 490 1,,923 682 422 619 2,,405 741 658 582 2,,430 752 315 593 3 ,141 779 769 834 4 ,095 856 1,,094 895 4 196 922 1,,198 898 4,,281 1,,135 45,,314 34 35 968 36 665 37 4,,989 38 1,,183 39 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 18,,102 50,,343 5,,459 15,,971 51,,839 5,,710 13,,378 55,,533 6,,115 15,,817 60,,776 6,,604 13,,615 63,,707 6,,910 14,,995 67,,405 7,,392 15,,941 70,,665 7,,612 17,,508 40 78 ,473 41 7,,944 42 368,,149 392, 8 9 5 408,,240 428,,667 437,,037 450,,007 463,,560 477, 546 43 43 Net worth Memo: 44 Total corp. real estate 274,676 44 Market value of equities, 45 including corp.farm equities (Net worth of corporate farms, 46 from farm sector table) 47 Debt-net worth ratio (27/43) 4 8 Debt-equities ratio (27/45) Ratio of market value to net worth (45/43) 49 289,169 242,470 342,082 361,299 354.114 428,294 389,171 9,929 10,402 11,049 11,305 11.385 11,726 12,020 12,424 46 31,344 39,905 31,810 51,545 32,671 38.990 33,529 39.782 35.163 43.397 36.346 38,188 37,977 45,236 39,433 47 41,289 48 78 ,546 61 ,713 8 3 ,794 8 4 .284 8 1 ,026 95,,174 8 3 .952 95 ,504 49 456.076 45 Tangibles and net worth on his torical i cost basis: 5 0 Tangible assets C ' 51 52 53 54 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 55 Land 281 ,919 302 ,897 313 ,898 335 ,052 354 ,625 372,,784 394 .837 418,,175 50 2 6 9 ,788 2 ,959 186 ,287 8 0 ,542 290,,021 3 ,107 204 ,323 82,,591 299 ,508 3 ,392 215 ,807 80,,309 319,,055 3 ,771 228 ,835 86,,449 337,,109 4,,104 243,,555 89,,450 353,,214 4,,573 256,,541 92,,100 373 ,409 5 ,232 270 .794 97 .383 394,,887 6 ,067 285,,646 103,,174 51 52 55 54 12 ,131 12,,876 14 ,390 15,,997 17 ,516 19,,570 21 .428 25,,286 55 56 Total assets 429 129 454 ,773 477 ,400 513 ,768 536 ,361 567,,363 601 ,5«4 640 621 56 5 7 Net worth 239 .830 256,,271 268,,996 286,,839 298,,453 314,,010 331 .329 548,5^5 57 106 ,745 116,,030 124,,195 132,,272 140,,943 149,,900 156 ,691 167,,616 58 4 8 ,115 48,,769 49 ,583 50,,108 51,,490 52,,087 55 .133 54,,055 59 Memo: 58 Total corp. real estate 5 9 Debt-net worth ratio (27/57) Data are In millions of dollars. October 1988 Nonfinancial Corporate Business ^ ' Nonfinartcial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 2 3 Year-End Outstandings Year-End Outstandings Nonfinancial Corporate Business, Excluding Farms 1 575, 984 617, 322 677, 610 726, 638 789, 967 865, 814 934, 953 1,008,425 1,008, 425 Tangible assets (current cost) 2 3 4 5 477,878 8, 984 353, 116 115, 778 515, 965 9,804 380. 964 125, 197 572, 599 10,891 420, 267 141,,441 621, 393 11, 650 457, 368 152. 375 684, 696 13, 681 506, 007 165,,008 756, 887 15,,898 558,,739 182,,250 823, 377 17, 516 615,,785 190,,076 893,,870 20,,200 672,,937 • 200,,733 6 98, 106 101, 357 105,,011 105, 245 105,,271 108,,927 111,,576 114,,555 351,,827 370,,274 406,708 406,,708 Total financial assets Reproducible assets Residential structures Nonres. plant & equipment Inventories 7 237, 308 259,,125 272,,722 289, 197 320,,072 8 9 10 61,,670 32,,738 6,,671 63,,176 33,,053 8 ,993 61,,326 32,,371 8 ,603 63, 095 34,,817 9,,682 68,,569 37,,531 9,,056 69 ,008 43 ,122 3 ,652 69,,494 44 ,059 5 ,347 78 ,819 42 ,581 9 ,509 12 13 14 15 16 309 1,,097 15,,481 3 ,680 1 ,694 593 781 13 ,786 4 .600 1 ,370 895 885 12 ,081 3 ,639 2 ,852 670 1,,055 9,,619 3,,300 3 ,952 1 ,121 1 ,587 10 ,393 3 ,782 5 ,099 3 ,311 1 ,173 7,322 2 ,800 7 ,628 234 798 7 ,492 2 ,175 9 ,389 1 ,077 1 ,234 9 ,968 3 ,175 11 ,275 17 18 19 20 21 22 23 24 12 ,303 253 107 ,600 55 ,482 44 ,480 6 ,350 91 4 ,561 13 ,242 330 120 ,876 61 ,501 49 ,283 6 ,766 97 5 ,355 13 ,418 425 133 ,247 64 ,306 51 ,007 7 ,331 120 5 ,848 13 ,822 845 160 ,097 76 ,739 58 ,547 8 ,788 160 9 ,244 14 ,095 745 182 ,878 85 ,101 63 ,704 9 ,935 225 11 ,237 14 ,647 645 191 ,404 94 ,084 70 ,269 10 ,831 336 12 ,648 17 .266 690 203 ,849 106 ,084 76 ,388 11 ,878 359 17 ,459 25 813 ,292 876 ,447 950 ,332 1,015 ,835 1,110 ,039 1,217 ,641 1,305 ,227 1,415 ,133 26 312,857 346,484 380, 751 409, 225 456, 978 504, 097 537, 386 577, 127 Total liabilities 295, 045 324, 014 352, 445 166, 756 58, 918 2, 153 19, 750 37, 015 377, 694 86 185, 563 61, 422 3, 050 21, 672 36, 700 219,798 243. 034 13 ,704 635 141 ,575 70 , 188 55 ,329 7 ,999 134 6 ,726 268, 129 Demand deposits & currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 1 2 3 4 5 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 26 27 28 29 30 31 32 33 27 28 29 30 31 32 33 200,893 92.408 49.475 1,902 13,657 33,916 97,260 51,685 1,997 14,522 35,166 107, 474 54, 525 1,598 15,247 37, 680 122, 132 56, 626 2, 102 16, 050 38, 474 135, 025 58, 847 2, 224 17, 082 39, 541 147, 000 58, 038 2, 008 18,,551 37,,479 34 35 36 37 38 39 49,955 60,723 69. 005 75, 671 85, 448 98,,834 103, 582 107, 574 1.125 764 5,784 1,382 797 891 6,766 1,676 1, 622 1, 063 7, 303 2. 042 3, 034 1, 304 7, 129 2, 233 4, 249 1,574 8, 245 1, 657 5,,356 2,,282 10,,730 1,,774 7,,133 3,,090 10,,907 2,>059 6,,247 3,,619 11,,579 1,,604 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 18,007 85,594 8,363 20,169 97,720 8,797 20, 374 108, 289 9, 054 15, 647 115, 526 9, 923 18, 508 132, 610 10,,815 15,,202 153 ,063 11 ,818 11,,472 160,,199 13,,270 13,,345 172,,174 13,,914 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 500,435 529,963 569, 581 606,,610 653,,061 713 ,544 767,,841 838 ,006 Net worth 44 286.135 303,361 324,,913 340,,778 366 ,666 400 ,705 434 ,192 474 ,407 Total corp. real estate Market value of equities. 758 ,897 including corp.farm equities (Net worth of corporate farms, from farm sector table) 18 ,105 43 Memo: 45 46 509,516 12,886 553,720 504 ,2&3 651 ,678 736 ,506 646 ,230 648 ,492 13.783 14 ,325 15 ,045 15 ,819 16 ,419 16 ,793 44 ,201 41 ,144 45 ,178 40 ,060 45 ,409 50 ,139 45 ,900 54 ,348 107 .429 112 .777 90 ,566 84 .456 678,,205 724, 691 769,,831 Tangible assets 639,,283 11,,623 454,,386 173,,274 684,,117 13,,004 488,,550 182,,563 727,,322 14,,663 521 ,246 191 ,413 47 48 40,143 39,428 41,474 39,694 42 ,668 48 ,199 49 101,814 104.482 88 ,525 45 ,070 Debt-net worth ratio (27/43) 49 ,768 Debt-equities ratio (27/45) Ratio of market value to net worth (45/43) 90 .559 44 45 46 47 48 49 Tangibles and net worth on historical cost basis: 50 445.602 482.941 531 ,893 501 .694 8 ,412 357 ,939 135 ,343 574 ,619 542 .245 9 .013 386 .579 146 .653 620 .903 586 .239 10 ,117 418 .144 157 .978 51 52 53 54 Land 55 51 52 53 54 420.328 6,915 303,428 109,985 455,091 7,717 327,914 119,460 55 25.274 27.850 30 .199 32 .374 34 .664 38 ,922 40,,574 682.910 742.066 804 .615 863 .816 940 .975 1.030,,032 1,094,,965 370.053 395.582 423 .864 454 .591 483 .997 525 ,935 557 ,579 599 ,412 Net worth 235 .915 256,109 274,034 292,119 Total corp. real estate 60 .960 61,607 63,209 56 57 42,,509 50 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 1,176 ,539 Total assets 56 57 Memo: 58 59 177.659 54.287 190.853 55.563 205 .677 57 .337 Data are in millions of dollars. 220 .100 58 .982 63,010 Debt-net worth ratio (27/57) 58 59 October 1988 Nonfinancial Corporate Business 24 Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1974 1972 1975 1976 1977 1 Tangible assets (current cost) 1,089,252 1,231,514 1,521,038 1,651,681 2 3 4 5 Reproducible assets Residential structures Nonres. plant & equipment Inventories 966,298 21,261 727,758 217,279 1,096,153 23,042 813,295 259,816 1,362,786 24,914 1,006,557 331,315 1,487,304 25,837 1,124,220 337,247 6 Land 122,954 135,361 158,252 164,377 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Demand deposits & currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 Total assets 1, 805, 605 li Nonfinancial Corporate Business. Excluding Farms 344 2,,311, 049 2,,618,,467 1 2 3 4 5 6 1,,627, 296 27, 616 1,,224, 508 375, 172 1,,803. 382 30, 309 1,,356, 144 416, 929 2,,076, 158 33, 513 1, 560, 828 481, 817 2, 351,,545 36,,711 1,,755,,579 559,,255 178, 309 200, 962 234, 891 266,,922 612, 8 9 3 672, 704 780, 661 910,,165 7 162,,321 57, 698 31, 174 610 16,,229 16,,661 11, 538 3,,658 24,,753 170,,820 50,,309 33 ,377 3,,000 18 ,843 21,,804 13,,105 3,,687 26,,695 8 9 10 11 12 13 14 15 16 24,,728 1,,060 434,,309 279,,248 178 ,240 38 ,949 633 61,,426 17 18 19 20 21 22 23 24 88,015 44,938 11,890 100,960 46,315 16,623 105,407 47,772 20,464 2,688 2,172 7,917 4,175 14,235 11,262 3,329 4,517 4,038 14,876 5,485 4,946 5,566 4,654 16,520 4,731 5,772 14,281 4,481 19,627 7,,048 7,,441 16,,421 3,,419 24,,671 143, 641 59, 207 29, 215 200 8, 256 8, 742 10, 026 3, 468 24, 527 17,954 732 230,251 119,259 81,503 13,729 377 23,650 19,180 775 269,293 136,602 91,715 15,689 396 28,802 19,535 816 246,260 145,476 100,364 17,816 413 26,883 19,862 890 252,457 160,136 114,140 20,043 423 25,530 21 =660 964 271,,269 179,,222 126,,583 23 ,424 460 28 ,755 22,,231 790 308,,020 198,,022 135,,382 27,,833 539 34,,268 23,,648 618 364,,375 229,,699 151,,761 33,,415 581 43 ,942 1,545,463 1,758,324 2,038,532 2,210,196 2 ,418 ,498 2 ,677,,048 3 ,091,,710 3 ,528 ,632 25 1 ,164 ,838 26 125,170 53,927 22,351 139, 778 56,,365 24,,413 26 Total liabilities 631,713 736,304 730,156 751,415 8 0 8 ,334 900,,551 1 ,031 ,966 27 28 29 30 31 32 33 409,190 634 197,750 64,183 3,626 24,457 36,100 467,387 2,430 206,909 89,542 3,226 26,914 59,402 517,789 4,078 226,579 85,458 3,008 28,308 54,142 532,772 6,678 253,783 86,958 3,635 28,798 54,525 570 ,174 9 ,163 276 ,614 93 ,826 5 ,018 29 ,950 58 ,858 638,,638 17,,377 299,,491 106,,444 6 ,778 31 ,974 67 ,692 706 ,110 25 ,041 320 ,607 116 ,102 7 ,573 34 ,714 73 ,815 773 ,538 35 ,028 337 ,915 105 .901 7 ,035 37 ,197 61 ,669 27 28 29 30 31 32 33 159,412 253 12,513 7,247 18,582 3,667 143,519 325 9,616 7,580 20,440 3,873 140 ,076 495 11 ,049 10 ,165 24 ,730 4 ,056 154 ,926 645 12 ,808 11 ,442 31 ,479 4 ,026 175 ,132 901 15 ,499 9 ,908 37 ,206 5 ,714 204 ,273 2 ,888 24 ,518 13 ,842 42 ,265 6 ,908 34 35 36 37 38 39 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 34 35 36 37 38 39 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 120,457 6,968 3,672 13,681 1,845 137,056 32 8,382 4,736 16,162 2,138 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 13,253 194,402 14,868 15,631 232,730 20,556 16,717 170,506 25,144 14,312 176,669 27,662 21 ,765 185 ,625 30 ,770 20 ,213 207 ,105 34 ,595 24 ,452 258 ,933 42 ,471 27 ,086 40 309 ,752 41 54 ,462 42 43 Net worth 913,750 1,022,020 1,308,376 1,458,781 1 ,610 ,164 1 ,776 ,497 2 ,059 ,744 2 ,363 ,794 43 44 Total corp. real estate 514,799 575,415 700,869 751*871 813,543 897,644 1,044,393 1,158,954 44 499,098 •» 684,337 787,807 748,002 773,143 933,373 45 3*.,279 37,288 40.771 48,115 55,592 46 35,410 72,374 35,949 85,379 34-281 91,329 32,724 47 82,875 48 Market value of equities, 45 including corp.farm equities (Net worth of corporate farms, 46 from farm sector table) 47 Debt-net worth ratio (27/43) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) 855,233 20,596 678,436 25,993 28,742 44,781 47,845 45,731 68,891 39,574 103,744 36,521 77,852 93,595 66,381 38,146 46,911 Tangibles and net worth on historical cost basis: 50 Tangible assets 51 52 53 54 Reproducible assets Residential structures Nonres. plant & equipment Inventories 55 Land 56 Total assets 57 Net worth 828, 166 919,,113 1 ,046,,073 1,,111, 612 1 ,211,,128 1 ,334,,403 1,,497, 745 1,,690,,633 50 782,,786 14,,736 560,,625 207,,425 869,,215 14,,892 612,,359 241,,964 992,,286 14,,950 673,,618 303,,718 1,,056, 647 14, 900 730, 757 310, 990 1 ,154,,649 14,,917 794,,641 345 ,091 1 ,274, 988 15,,069 876,,462 383,,457 1,,434,,108 15, 348 982,,063 436,,697 1,,623,,381 15 ,730 1,,110,,306 497,,345 51 52 53 54 45 ,380 49 ,898 53 ,787 54, 965 56 ,479 59,,415 63,,637 67,,252 55 1,284 ,377 1,445,,923 1 ,563 ,567 1 ,670, 127 1 ,824 ,021 2 ,007,,107 2 ,278 ,406 2 ,600 ,798 56 652 ,664 709,,619 833,,411 918,,712 1 ,015 ,687 1 ,106,,556 1 ,246,,440 1 ,435 ,960 57 311 ,364 336 ,441 365 ,689 390,,795 417 ,454 447 ,426 486 ,864 537 ,037 58 56 ,136 5 7 ,714 56 ,650 53 ,869 59 Memo: 58 Total corp. real estate 59 Debt-net worth ratio (27/57) Date are in millions of dollars. 62 ,695 65 ,864 62 ,128 5 7 ,991 October 1988 Nonfinanclal Corporate Business Nonfinanclal Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 2 5 Year-End Outstandings Year-End Outstandings 1982 1983 1984 1985 1987 Nonfinanclal Corporate Business, Excluding Farms 1 2 ,988,,346 3,,362,,500 3 ,507,,837 3 ,611,,178 3 ,849,• 783 3,• 999, • 580 4 ,137 ,269 4 • 358,590 Tangible assets (current cost) 1 2 3 4 5 2 ,670,• 714 39,• 527 ,371 2,• 010, 620,,816 2,,992,,933 41,,979 2 ,277,,016 673,,938 3 ,107,,255 41,,249 2 ,406,,915 659,,091 3 ,186,,172 42,• 920 2 ,469,• 044 674,• 208 3 ,385,,767 44,,918 2 ,599,,950 740,,899 3,,504,• 724 46,• 528 • 974 2 • 704, 753,• 222 3 ,610 ,454 47 ,726 2 ,805 ,786 756 ,942 3 ,807 ,047 50 ,409 2 • 928,746 827 ,892 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 6 317,,632 369,,567 400,,582 425 ,006 464,,016 494 • 856 526 ,815 7 1,,015,,422 1 ,116,,079 1 ,141,,734 1 ,249,,813 1,,374,,520 1,• 474, • 706 1 ,609 ,289 551 ,543 1,• 708,234 Total financial assets 7 8 9 10 11 12 13 14 15 16 196,• 502 57,• 071 37,• 853 6,• 993 28 ,415 24,• 623 18,• 701 3,• 490 19,,356 220,,443 47,,373 47,,758 18,,416 33,,422 22,,965 20,,214 3,,470 26,•825 266,,781 53,,252 59,,029 19,,031 42,,143 22,,553 30,,500 3,,536 36,,737 306,,914 59 ,943 73,• 645 11,,153 48,,387 25 ,680 40 ,498 4,,201 43,,407 348,,545 66,,625 86,,872 16,,062 48,,837 20,,593 52,,674 4,,066 52,,816 393,• 596 80,• 379 100,• 292 12,• 817 58,,346 18,,508 59,• 030 4,>902 59,• 322 481 ,291 99,,341 112 • 509 . 20,,122 70 • 500 24 ,456 78,,494 7,,968 67,,901 494,,528 98 ,327 116 ,591 19,,441 76 ,329 21 ,618 82,,044 10,,532 69,,646 Liquid assets Demand deposits 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 24 ,996 1 ,507 482 ,496 309 ,921 208 ,467 43 ,619 642 57 ,193 25 ,280 1,,624 507 • 259 361,,473 224,•826 47,,320 642 88 ,685 25 ,254 3 ,070 492 ,177 354 ,452 213 ,347 50 ,030 714 90 ,361 28 ,589 4 ,501 529,,409 380 • 400 215 ,934 53 ,493 723 110,,250 30,,632 7,,193 577,,477 410,,673 221,,941 58,,635 724 129,• 373 32,• 302 12,• 510 604,• 203 432 ,095 237,,969 63 ,739 831 129,• 556 32 ,397 15 ,712 607 ,435 472 • 454 261 ,666 67 • 893 913 141,,982 34,,292 11,,504 657,,375 510 • 535 308 ,427 78 ,781 1 ,289 122,,038 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 17 18 19 20 21 22 23 24 25 4 ,003 ,768 4 ,478 ,579 4 ,649 ,571 4 ,860 ,991 5 ,224,• 303 5,,474,• 286 5 ,746 ,558 6,>066,•824 Total assets 25 26 ,465 1,• 284, 1,429,• 063 1.476 ,373 1,,589 • 417 1,,824,• 687 2,,013,,420 2,,225,,421 2 ,450,,370 Total liabilities 26 27 28 29 30 31 32 33 828,,415 45 ,892 365 ,570 88 ,977 5 ,954 38 ,648 44 ,375 925,,365 59,,323 388 ,331 88 ,495 4 ,544 37 ,408 46,,543 965 ,592 74 ,466 406 ,997 54 ,790 5 ,056 so ,766 18 ,968 1,,022,•865 83,•897 423 ,023 58,,316 5,,057 27,,597 25,,662 1,,196,• 753 104,• 439 469 • 152 64,,600 5,,056 25,,823 33,,721 1,,333,,466 127,,039 542,,905 53 ,599 4 ,806 21,,690 27 ,103 1 ,505,,785 117,,138 664,,181 57,• 915 4,•819 22,• 193 30,• 903 1 ,664,,302 116,,224 764,,121 89,,850 5 ,240 22,,924 61,,686 27 28 29 30 31 32 33 34 35 36 37 38 39 225 ,966 4 ,199 28 ,026 17 ,076 44 ,333 8 ,376 252 ,438 13 ,095 42 ,722 21 ,448 49 ,942 9 ,571 294 .084 15 .612 37 .614 20 .666 50 .512 10 ,851 306 ,277 18 ,290 36 ,775 27 ,641 58 ,246 10 ,400 351 ,930 31,,339 58 ,490 30 ,432 74 ,771 11,,600 374 ,859 32 ,881 72 ,207 28 ,323 87 ,423 14 ,230 418,• 148 43,• 948 62,• 865 28,• 129 98,• 711 14,,750 414 ,774 45 ,171 73,,768 33 ,229 115 ,710 11 ,455 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance llab. to banks Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 25 ,286 347 ,718 83 ,046 18 ,638 376 ,346 108 ,714 4 .407 381 .697 124 .677 10 ,531 418 ,962 137 ,059 11 ,364 451 ,989 164 ,581 9 ,313 486 ,028 184 ,613 10,,108 489 ,116 220,,412 9 ,806 514 ,337 261 ,925 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 2 .719 ,303 3,049 ,516 3.173 ,198 3 .271 ,574 3 ,399 ,616 3,,460 ,866 3 ,521,,137 3 ,616 ,454 Net worth 44 1,,326.,605 1,505 ,697 1,585,403 1,639 .527 1,747 .608 1 ,823,,874 1,890 .279 1,973 ,828 Total corp. real estate Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi-family Commercial 43 Memo: Market value of equities. 2.331 .322 including corp.farm equities (Net worth of corporate farms. from farm sector table) 40 .713 44 1,214 .845 1,382,773 1.638 .730 1,617 .733 2 ,022,,648 2,332 .629 46 61,,228 60 ,125 56,827 55 ,825 48 .182 42,,160 39 .001 47 48 30,,464 64 ,063 50 ,544 76 ,171 50,429 69,850 51 ,265 62 ,418 55 .202 75 ,977 38,,529 65,• 926 42 .764 64 .555 49 47 ,555 59 ,857 45,576 50 .089 4 7 ,585 58,• 445 66 ,246 50 1.879,332 2,086.898 2 ,206.488 2 .559.285 2 ,561,120 2,•739.915 2,• 881.844 3 ,071,930 Tangible assets 51 52 S3 54 1,805,510 16,054 1,241,4*6 547,9*0 2.005,222 16,305 1,592,792 5*6,125 2 .11*.570 16,718 1 .525,175 577.479 2 .2****97 17.117 1 .659,909 587,*71 2 ,*57,828 18,140 1 ,789,575 650,115 2,,624,946 19,159 1,,944,097 661,690 2,,757. 677 20. 247 2,• 072.589 665. 041 2 ,957,850 21,559 2 ,192,168 724,505 55 73,822 81.676 87,118 **,788 105,292 114,969 124, 167 5 ,589,098 5 .955.640 4,,214,621 4,,491, 133 4 ,780,16* Total assets 56 2 ,52*.79* Net worth 57 45 1 ,293,• 116 46 .020 Debt-net worth ratio (27/43) 71 ,388 Debt-equities ratio (27/45) Ratio of market value to net worth (45/43) 64 ,464 45 46 47 48 49 Tangibles and net worth on historical cost basis: 56 2,894,754 5,202,*77 3 .548.222 57 1,610,289 1,775,914 1 .871.849 1 ,9*9,681 2 ,110,955 2,,201,201 2 ,265, 712 58 596,196 668,065 756.086 7*0,551 859,594 956,533 994,,958 59 51,445 52.165 51,58* 51.151 56,692 60,579 66 459 154,100 Reproducible assets Residential structures Nonres. plant & equipment Inventories Land 50 51 52 55 5* 55 Memo: Data are in millions of dollars. 1 .0*7.800 Total corp. real estate 71.*55 Debt-net worth ratio (27/57) 58 59 October 1988 Private Financial Institutions 26, Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1950 Private Financial Institutions 1 Tangible assets 2 Nonres. plant 8 equipment 3 Land 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 3, 315 2, 947 368 3,,401 3,,020 381 3, 785 3, 351 434 4,,270 3, 770 500 , 4,,452 3,,919 533 4, 793 4, 184 609 5,,174 4,,441 733 5 ,997 5 ,113 884 1 2 3 257, 308 271,,809 292, 717 313, 267 339,,986 362,,590 394,,484 427 ,788 4 6,,675 170 6,,977 205 7,,303 283 7 ,687 348 5 6 448 553 572 8 - - 10 5, 019 56 5,,268 50 5, 910 53 6, 505 129 285 271 221 315 388 - - - - - 5, 559 217,,599 102,,558 2,,066 8, 628 28,,481 8,,065 232,>041 106,,041 2,,104 10,,173 31,,949 9, 412 248,,504 99,,384 1,,892 12,,506 34, 274 10,.257 264,,184 95, 972 1,,830 14, 125 37, 918 11,,866 287,,587 98,,087 2,,187 15 ,776 42,,874 ™ 12,,941 307,,431 98,,466 3,,760 17,,841 47,,602 17,,728 332,,707 103,,728 3,,685 21,,260 51,,873 24 ,144 357 ,182 96 ,028 3,,156 22,,825 54,,857 11 12 13 14 15 16 17 18 19 20 21 22 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 38,,043 10,,499 22,,034 485 4 ,546 259 43,,178 12,,931 20,,408 499 4,,486 272 52,,164 16,,209 26, 120 686 4,,875 394 59,,934 16, 879 30, 725 1,,025 5, 286 490 67,,517 20,,801 32 ,737 1,,276 5,,840 492 75,,806 24,,507 31,,545 1,,165 6,, 166 573 86,,499 25,,510 31,,747 1,,147 6,,385 873 100,,739 31,,706 39,,235 942 7,,052 642 17 18 19 20 21 22 23 24 25 26 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 2,,915 22,,457 652 2,,766 3,,658 18,,578 723 3,,155 4,,453 19,,855 740 3,,569 4, 132 22,,753 850 4,,142 4,,865 22,,703 948 4,,784 5,,729 22,,672 1,,006 5,,181 7,,526 21,,345 1,,064 5 ,975 8,,645 21,,687 1 ,156 * 6 ,367 23 24 25 26 27 Total assets 260,,623 275,,210 296,,502 317,,537 344,,438 367,,383 399 ,658 433 ,785 27 28 Total liabilities 235,,845 249,,098 267,,943 287,,235 311,,934 332,,956 360 ,205 390,,610 28 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 89,,488 62,,244 90,,329 64 ,861 95,,924 67,,322 102,,743 72,,303 107 ,902 80,,167 108,,025 88 ,446 112 ,538 97 ,808 3,,930 -95 4 ,294 -82 4,,576 -61 4,,546 7 4 ,874 22 5 ,824 37 7 ,011 -20 114,,678 29 106,,581 30 31 6,,693 32 -205 33 34 35 36 Life insurance reserves Pension fund reserves Interbank claims, net 43 ,777 13,,307 1 ,911 46 ,444 15 ,092 2 ,403 49 ,080 17,,511 3,,735 51,,635 20,,367 3,,666 54 ,480 24 ,184 3 .702 57 ,388 28 ,538 3 ,581 60 ,389 33 ,295 3 ,426 63,,459 34 40,,498 35 4,,858 36 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 1 ,515 3 ,619 973 3 ,070 4 ,468 1 ,355 3 ,344 6 ,354 1 ,735 3,,481 6,,953 2,,023 3 .931 8 .198 2 .280 4 ,146 9 ,899 3 ,681 6 ,109 10 ,094 3 ,604 1 ,367 770 509 1 ,735 951 427 2 ,697 1 ,112 810 2 ,460 1 ,559 911 3 .139 1 .915 864 3 ,044 2 ,222 952 3 ,250 2 ,373 867 7,,838 37 13 ,943 38 4 ,528 39 40 5 ,611 41 2 ,387 42 1 ,417 43 44 45 46 47 Security debt Trade debt Taxes payable Miscellaneous liabilities 2 ,068 2 ,588 2 ,960 2 ,681 3 ,056 3 .445 4 .450 1 .434 19 .984 1 .903 21 .724 1 .634 23 ,471 4 .746 44 45 1 ,260 46 26 ,261 47 495 13 ,586 708 14 ,923 868 16 ,330 1 ,098 17 ,755 48 Net worth 49 Approximate share stock cos. 50 Approximate snare other cos. 24 ,778 18 ,783 5 ,995 26 ,112 19 ,936 6 ,176 28 ,559 21 ,269 7 ,290 30 ,302 22 ,462 7 ,840 32 .504 24 .308 8 ,196 34 .427 25 .374 9 .053 39 ,453 29 ,216 10 ,237 43 ,175 48 31 ,223 49 11 .952 50 51 Market value of equities 52 Total fin. Inst, real estate 21 ,679 2 ,668 24 ,017 2 ,624 24 ,834 2 ,845 26 .879 3 ,134 30 ,669 5 .199 28 .754 3 ,376 33 ,991 3 ,666 37 .562 51 4 .284 52 Data are in millions of dollars. October 1988 Private Financial Institutions Private Financial Institutions 27 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1956 1957 1958 1959 1 2 3 6 ,928 5 ,841 1 ,087 7 ,591 6 ,294 1 ,297 8 ,160 6 ,645 1 ,515 8 ,904 7 ,172 1 ,732 4 453 ,325 477 ,286 523 ,782 5 6 7 8 9 10 7 ,819 431 ' 8 ,077 500 8 ,717 668 590 624 1960 1961 1962 1963 9 ,555 7 ,607 1 ,948 10 ,284 8 ,065 2 ,219 11 ,338 8 ,898 2 ,440 559 ,227 597 ,933 657 ,774 706 ,762 8 ,554 724 8 ,937 721 10 ,044 877 10 ,981 960 11 ,048 1 ,023 827 806 846 1 ,045 1 ,119 1 ,164 Private Financial Institutions 12 ,237 Tangible assets 9 ,615 Nonres. plant 8 equipment Land 2 ,622 772 ,288 Total financial assets - - 1 2 3 4 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 11 12 13 14 15 16 11 12 13 14 15 16 25 379 91 2 24 58 ,946 ,250 ,684 ,864 ,140 ,683 25 ,530 402 ,523 90 ,685 3 ,351 26 ,449 65 ,157 36 ,361 435 ,206 99 ,556 3 ,942 30 ,508 70 ,687 42 ,634 463 ,895 92 ,640 3 ,138 32 ,791 74 ,907 46 ,239 497 ,764 94 ,274 4 ,022 34 ,835 79 ,545 61 ,385 537 ,135 100 ,520 4 ,840 38 ,685 84 ,913 58 ,089 584 ,761 101 ,974 6 ,730 44 ,443 90 ,872 70 ,821 634 ,360 98 ,428 7 ,237 48 ,825 96 ,860 17 18 19 20 21 22 112 ,799 34 ,872 44 ,869 1 ,007 7 ,365 967 121 ,385 37 ,445 46 ,746 1 ,319 8 ,679 1 ,307 133 ,645 37 ,567 47 ,263 1 ,797 9 ,047 1 ,194 148 ,301 43 ,670 53 ,930 2 ,468 10 ,899 1 ,151 161 ,284 48 ,423 57 ,529 2 ,405 13 ,420 2 ,027 177 ,338 50 ,688 60 ,636 2 ,707 14 ,125 2 ,683 197 ,873 55 ,639 66 ,643 3 ,141 14 ,796 2 ,650 223 ,583 62 ,972 73 ,763 3 ,170 16 ,632 2 ,890 Mortgages / Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 17 18 19 20 21 22 23 24 25 26 8 ,023 22 ,320 I,,291 7 ,655 ,726 22 ,369 1,,451 8 ,486 9 ,172 21 ,753 1 ,599 9 ,479 9 ,414 21 ,186 1 ,782 10,,232 9 ,615 20 ,427 1 ,934 11,,450 11 ,772 21,,076 1 ,993 12,,447 12 ,423 21 ,973 2 ,201 14 ,255 15 ,083 21 ,308 2 ,332 15 ,149 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 23 24 25 26 27 460,,253 484,,877 531 ,942 568 ,131 607,,488 668,,058 718,,100 784,,525 Total assets 28 414,,442 437,,472 479 ,074 511,,894 547 ,793 601,,308 648,,038 710,,276 Total liabilities 28 29 30 31 32 33 116,,493 116,,213 115,,841 128,,299 121 ,409 142 ,572 122,,979 154,,096 125,,022 165,,818 130,,140 184,,107 134,,711 209,,910 136,,925 235,,499 6 ,489 -210 6,,701 -313 9 ,290 252 7,,552 -28 11,,119 -262 13,,569 14 16,,408 63 20,,353 26 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 29 30 31 32 33 34 35 36 66,,626 45.,679 5,,361 69,,277 51,,332 4,,283 72,,294 60,,436 4,,418 75,,606 69,,246 5,,630 78,,758 76,,728 6,,502 82,,112 88,,649 7,,948 85,,754 93,,639 7,,597 89,,860 106,,041 7,,382 Life insurance reserves Pension fund reserves Interbank claims, net 34 35 36 37 38 39 40 41 42 43 9,,046 14, 796 5,,609 8,,714 16,,376 6,,354 13,,241 15,,655 6,,556 15,,818 19, 358 7,,733 17,,026 22,,985 9,,112 22,,875 24,,869 9,,262 21,,271 27,,943 9,,222 25,,214 33,,472 10,,530 5, 110 2,,849 1, 228 5,,113 3,,644 1,,265 4,,406 3,,395 1,,298 5,,441 4,,050 2, 134 6,,117 5, 775 1, 981 6, 643 6, 302 2, 662 7,,764 7, 478 3,,479 9,,417 8, 741 4, 784 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 37 38 39 40 41 42 43 44 45 46 47 4, 158 4, 287 4, 848 4, 887 5,,382 6, 256 7, 066 7, 739 1,452 28, 339 1,,635 31, 040 1,,698 33,,465 1, 387 35, 363 2, 364 36, 351 1, 392 39, 377 1, 947 41, 729 1,548 46, 217 Security debt Trade debt Taxes payable Miscellaneous liabilities 44 45 46 47 48 49 50 45, 811 32, 753 13, 058 47, 405 33, 447 13, 958 52, 868 37,,315 15,,553 56, 237 39, 568 16, 669 59, 695 41, 602 18, 093 66, 750 46, 778 19, 972 70, 062 48, 064 21, 998 74, 249 Net worth 48 51, 209 Approximate share stock cos. 49 23, 040 Approximate share other cos. 50 51 52 37, 154 4, 968 45, 586 5, 481 59, 559 5,,970 73, 182 6, 544 75,874 7, 075 117, 925 7, 767 90, 529 8, 617 7 k 27 Memo: Data are in millions of dollars. 110, 586 Market value of equities 9, 345 Total fin. inst. real estate 51 52 October 1988 Private Financial Institutions 28 Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Private Financial Institutions 1 Tangible assets 2 Nonres. plant 8 equipment 3 Land 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund snares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 13 ,727 10 ,843 2 ,884 15 ,576 12 ,460 3 ,116 17 ,477 14 ,188 3 ,289 19 ,185 15 ,935 3 ,250 . 22,124 18 ,753 3 ,371 24 ,931 21 ,340 3 ,591 847 ,463 928 ,715 976 ,782 1 ,078 ,459 1,186 ,778 1 ,242 ,455 11 ,267 1 ,118 11 ,665 1 ,126 11 ,320 1 ,037 11 ,658 1 ,133 12 ,346 1 ,053 12 ,007 832 12 ,465 1 ,040 1 ,342 1 ,337 1 ,429 2 ,092 2 ,253 107 1 ,853 336 2 ,826 442 - - - 27 ,821 24 .097 3 ,724 1 , 342, 142 - 31 ,445 27 ,538 3 ,907 1 2 3 1 ,514 ,743 4 13 ,340 1 ,492 5 6 7 4 ,721 8 1 ,168 9 10 83 ,861 692 ,435 99 ,740 8 ,111 52 ,403 103 ,921 99 ,136 754 ,517 95 ,561 9 ,119 57 ,099 111 ,655 94 ,815 802 ,366 92 ,118 10 ,727 59 ,718 120 ,886 122 ,808 865 ,713 96 ,182 14 ,090 70 ,160 133 ,310 145 ,755 940 ,296 98 ,701 17 ,021 79 • 689 142 ,217 141 ,746 999 ,233 85 ,087 18 ,822 81 ,238 150 ,453 151 ,178 1 ,077 ,060 91 ,990 25 ,661 93 ,798 163 ,518 196 ,720 1 ,185 ,467 91 ,129 33 ,841 110 ,375 177 ,512 11 12 13 14 15 16 355 ,063 111 ,592 145 ,151 11 ,092 35 ,284 5 ,451 375 ,439 115 ,495 151 ,530 14 ,694 37 .877 7 ,058 416 ,425 128 ,691 162 ,912 16 ,471 40 ,222 7 ,889 17 18 19 20 21 22 17 18 19 20 21 22 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 249 ,213 71 ,292 82 ,086 3 ,577 18 ,707 3 ,385 274 ,728 80 ,223 98 ,019 3 ,511 21 ,210 3 ,392 292 ,558 86 ,037 107 ,672 5 ,324 23 ,723 3 ,603 310 ,681 91 ,014 114 ,197 7 ,446 24 ,316 4 ,317 333 ,355 101 ,676 127 ,899 7 ,514 27 ,796 4 ,428 23 24 25 26 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 15 ,045 22 ,382 2 ,484 17 ,529 15 ,263 23 ,298 2 ,649 19,,724 15 ,824 25 ,244 2 ,898 21 ,849 20 ,498 27 ,023 3 ,176 24,,358 24 ,659 29 ,054 3 ,476 27 ,779 20 ,021 29 ,405 3 ,898 33 , 124 20,,174 31,,197 4,• 370 41,• 390 23 ,525 23 35 ,329 24 4 ,661 25 48 • 320 26 27 Total assets 861 ,190 944,• 291 994,,259 ,644 1,• 097, 1,208,,902 1,• 267,386 • 963 1,• 369, 1,• 546, • 188 27 28 Total liabilities 780 ,412 858,• 221 906,,868 1,,003,• 459 1,105,• 983 • 983 1,• 165, ,817 1,• 269, 1,• 434, • 944 28 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 143,.641 261,,152 148,,953 288,,408 150, 759 306,,429 162,,896 341,, 129 176,,210 367,,734 180,• 864 381,• 736 190,,202 412, 241 25,,119 540 31, 033 1, 749 33, 356 1, 674 39,,269 1, 659 46,,009 2,,586 301,485 8,,707 54, 692 4, 650 203,,402 29 480, 509 30 31 68, 115 32 8, 666 33 34 35 36 Life insurance reserves Pension fund reserves Interbank claims, net 94,,172 120,,821 7,402 98,863 135, 770 7, 704 103, 450 144, 150 12, 002 108, 335 165, 020 12, 634 113, 138 185, 427 16,234 118, 110 194, 623 23, 513 123, 345 213,291 18, 939 129, 626 34 247,524 35 12,545 36 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 29, 116 38,847 12,834 35, 220 45, 267 15, 051 34,829 49, 072 15,275 44, 307 47, 968 15, 954 9, 952 10, 736 5, 325 12,290 11, 929 5, 997 11,200 15, 662 6, 935 9,217 18,411 4, 386 51, 232 53, 946 16,400 200 10, 691 21, 396 5, 259 47, 587 70,807 17,' 226 430 11, 112 32, 750 9,289 46,811 76, 756 21, 002 546 11,526 33, 067 10, 615 44 45 46 47 Security debt Trace debt Taxes payable Miscellaneous liabilities 8, 377 48 Net worth 49 Approximate share stock cos. 50 Approximate share other cos. 51 Market value of equities 52 Total fin. Inst, real estate Data are in millions of dollars. 55, 446 81, 419 25, 906 680 13, 050 33,847 7, 936 37 38 39 40 41 42 43 8, 737 9,576 12, 745 16, 199 13, 173 14, 153 1, 759 . 49, 466 1, 786 54, 731 1, 741 59,830 1,548 65, 949 . 1,708 75,560 1,894 94,484 2,479 112,258 15,299 44 45 2,443 46 129, 950 47 80, 778 55, 331 25, 447 86, 070 57, 079 28, 991 87, 391 56, 559 30,832 94, 185 60, 248 33, 937 102, 919 65, 099 37,820 101, 403 64, 337 37, 066 100, 146 62, 017 38, 129 111,244 48 67, 352 49 43,892 50 118,184 10,376 154,980 11,537 139,277 12,686 167,022 13,250 238,394 14,995 213,170 16,892 204,308 18,621 237,203 51 20,896 52 October 1988 Private Financial Institutions Private Financial Institutions 29 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1975 1976 1972 1973 34,,772 30,,677 4,,095 40,,124 35,,778 4, 346 49,,804 44,,950 4 ,854 54, 669 50,,140 4, 529 61,,083 56,,408 4,,675 1,746,,297 1,900,,569 2,010,,216 2,245,,074 2,507,,344 2,794,,489 3,195,,538 21,,069 2 ,517 244 24 ,856 9 ,688 14 23,,961 1,,766 762 35 ,964 11 ,488 470 26,948 2,121 2,182 48,452 16,988 5,109 Private Financial Institutions 69,,038 64,,100 . 4,,938 82,,312 76,,641 5,,671 92,098 Tangible assets 86,374 Nonres. plant 8 equipment 5,724 Land 3,604,475 Total financial assets Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Lar»e time deposits Fed. funds 8 security RPs Foreign deposits 5 6 7 8 9 10 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 11 12 13 14 15 16 15,,109 1,,805 151,632 1 .611 16 ,068 1 ,895 17,,922 2 ,124 18 ,916 2 ,073 6 ,773 1 ,667 7 ,906 3 ,709 13 ,722 6 ,107 22 ,998 5 ,059 21 ,094 6 ,682 11 12 13 14 15 16 238,903 1,339,240 93,936 44,543 122,126 194,172 206,514 1,510,884 83, 245 57, 218 131, 457 206,,976 160, 149 1,652, 332 81, 325 65, 487 138,,595 223,,654 218, 956 1,782, 101 122, 277 76, 269 146,,332 255,,971 253, 735 1,984, 355 163, 415 85, 466 159, 448 281,,829 246, 107 2,,240,270 165, 273 101, 503 182, 427 316,,805 280, 918 2,542, 563 158,,972 122,878 208,,659 351,,725 324,991 2,852,734 161,340 147,094 229,035 378,727 17 18 19 20 476,724 147,121 189,023 19,332 45,365 6,898 542,,307 170,,287 237 ,815 20 ,164 52 ,523 8 ,892 580,,302 178,,896 278,,677 26 ,887 60 ,025 18 ,484 614,,250 183,,666 265,,232 34 ,030 65 ,347 18 ,727 677,,171 204,,452 271 ,908 42 ,849 75 ,294 22 ,523 773,,240 240,,794 300,,733 43 ,328 90 ,513 25 ,654 880 ,529 284 ,326 359 ,456 46 ,523 104 ,557 24 ,938 978,889 323,580 409,715 72,535 119,354 32,465 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 17 18 19 20 23 24 25 26 32,056 34,295 5,842 70,607 24 ,300 37 ,748 6 ,485 85 ,780 20 ,546 37 ,483 7 ,020 94 ,894 23 ,634 38 ,304 7 ,668 126 ,308 34 ,166 37 ,279 8 ,878 140 ,166 38 ,419 40 ,792 10 , 176 160 ,337 38 ,170 46 , 693 11 , 656 201 ,127 37,612 48,280 13,591 225,467 Security credit Vault cash 8 comm bank res. Trade credit Miscellaneous finan assets 23 24 25 26 27 1,781,069 1,940 ,693 2,060 ,020 2,299 ,743 2,568 ,427 2 ,863 ,527 3,277 ,850 3,696,573 Total assets 1,937,530 2,181,731 2,432,883 2,713,023 3,095,547 3,481,465 Total liabilities 244,045 724,657 3,696 158,153 33,395 258,265 846,074 3,686 144,277 49,450 283,729 940,587 3,887 172,579 57,150 310,131 1,005,465 10,808 227,577 7 8 9 10 21 29 30 31 32 33 223,190 550,038 236,121 589,205 86,914 11,259 126,021 27,871 236,087 626,798 2,379 167,087 31,175 81,082 337,717 1,065,076 45,214 256,852 98,569 158,474 402,163 -9,395 167,073 461,039 -17,583 176,386 507,452 -24,134 187,257 601,737 -14,628 45,490 188,217 65,837 2,428 24,645 75,134 20,173 21 27 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 29 30 31 32 33 197,675 699,396 4,529 Life insurance reserves Pension fund reserves Interbank claims, net 34 35 36 46,049 223,821 73,686 1,960 26,428 89,077 32,670 51,788 265,777 79,148 1,950 26,927 115,914 41,838 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 37 38 39 40 41 42 43 Security debt Trade debt Taxes payable Miscellaneous liabilities 44 45 46 47 34 35 36 136,349 297,948 9,884 143,522 302,483 3,375 150,528 307,089 2,059 37 38 39 40 41 42 43 58,926 96,332 32,953 1,160 19,520 34,720 7,979 46,635 123,449 37,393 1,480 27,757 41,672 15,147 35,151 150,686 40,473 1,649 31,641 55,119 21,804 43,034 151,739 47,361 28,076 56,429 17,845 2,028 46,510 159,593 53,872 2,416 24,985 62,458 15,862 44 45 46 47 19,502 16,075 13,150 16,034 23,385 25,297 25,644 2,450 167,209 198,103 2,608 2,693 212,648 2,437 253,299 2,960 288,154 3,884 332,499 4',839 385,765 26,712 4,986 427,174 48 49 50 121,068 71,429 49,639 125,225 73,467 51,758 122,490 67,028 55.462 118,012 59,938 58,074 135,544 69,444 66,100 150,504 73,255 77,249 182,303 81,178 101,125 215,108 Net worth 48 101,450 Approximate share stock cos. 49 113,658 Approximate share other cos. 50 51 52 272,367 22.709 212,964 25.039 133.602 29.122 155.563 29.690 268.193 $1,387 191,898 33,985 198,157 40,040 231,327 Market value of equities 41,502 Total fin. Inst, real estate 51 52 October 1988 Private Financial Institutions Private Financial Institutions Sector Balance Sheets with Tangible Assets at Current Cost 30 Year-End Outstandings Year-End Outstandings 1980 1981 1982 1983 1984 1985 1986 1987 Private Financial Institutions 120,,073 112,,741 7,,332 129,,202 121,,513 7 ,689 136,,757 128,,580 8,,177 155,,041 145,,668 9,,373 171,,424 160,,940 10,,484 198,,222 186,,405 11,,817 225 ,224 211 ,704 13 ,520 1 2 3 4 ,040,,364 4 ,458,,776 4,,920,,197 5 ,504,,558 6 ,229,,203 7 ,129,,946 8 fl89,,405 8 ,830 ,834 4 30,,198 2,,850 4,,491 62,,023 20,,885 6,,769 33,,448 3,,231 12,,122 84,,383 37,,247 18,,846 39,,773 5,,699 11,,367 104,,534 49,,137 23,,759 41,,939 7,,313 9,,890 99,,306 57,,017 21,,911 44 ,465 6 ,940 15 ,093 97,,701 79,,460 21,,213 59,,007 9,,565 16,,475 104,,202 92,,953 19,,027 74,,333 12,,851 23,,257 123,,298 101,,979 22,,168 404,,614 3 ,140 ,384 203,,641 180 ,275 252,,915 414,,049 394,,616 3 ,467,,892 243,,929 224 145 265,,051 441,,648 478,,306 3 ,716 ,832 322,,268 285,,104 286,,774 471,,978 611,,974 4 ,111,,167 387,,466 354,,288 301,,717 512,,113 615,,638 4 ,690,,986 463,,917 397,,368 325,,791 581,,163 799 ,994 5 ,264 ,409 524,,037 450,,407 422,,515 667,,512 972,,190 6 ,009,,320 637,,937 622,,742 455,,867 787,,650 1 ,021 ,680 6 ,575 ,640 666 = 713 769 ,004 423,,234 931,,101 11 12 13 14 15 16 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 1 ,042,,239 326,,004 456 ,951 94 ,443 130 ,077 39,,790 1 ,092,,163 342,,607 509,,235 149,,442 148,,588 51 ,084 , 1 ,084,,958 358,,973 526,,814 167,,159 153 ,985 58,,819 1 ,181,,437 403,,935 556,,473 177,,512 170 ,554 65,,672 1,,328,,494 483,,145 613,,240 224,,389 204,,047 69,,432 1 ,462,,176 563,,659 652,,585 232,,332 229,,214 59,,972 1 ,599,,417 617,,568 721 ,610 , 260,,652 251,,475 54,,402 1 ,777,,034 656,,006 720,,814 285,,813 285 ,046 60,,877 17 18 19 20 21 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 45 ,661 47 ,263 15 ,575 259 ,651 49 ,232 43,,851 18,,117 295,,791 52,,006 46 ,021 20,,242 372,,521 62,,838 42 ,442 22 ,239 416,,522 66,,289 46,,057 25,,000 520,,361 96,,137 54,,168 27,,190 586,,819 97,,060 73,,759 32,,062 647,,128 75 ,501 66,,642 35,,651 677,,263 23 24 25 26 27 Total assets 4 ,146 ,201 4 ,578,,849 5 ,049,,399 5 ,641,,315 6 ,384,,244 7 ,301,,370 8 ,387 ,627 9 ,056,,058 27 28 Total liabilities 3 ,894 ,488 4 ,329,,959 4 ,795,,095 5 ,367 ,045 6 ,056,,338 6 ,927,,382 7 ,949,,239 8 ,590,,879 28 350 ,249 1 ,147 ,774 76 ,362 316 ,823 122 ,754 367,,269 1 ,195,,586 186,,158 378 ,116 152,,511 394,,790 1 ,334 ,287 219,,837 395 ,450 184,,521 422,,174 1 ,550 ,855 179,,393 382,,439 196,,359 459,,230 1 ,701,,743 233,,554 469,,661 237,,636 526,,106 1 ,843,,002 243,,802 487,,489 267,,353 640,,732 1 ,963,,100 292,,109 492,,274 319,,567 627,,993 2 ,039,,272 316,,095 543,,779 318,,106 289,,464 34 2,,072,,282 35 -14,,867 36 1 Tangible assets Nonres. plant 8 equipment 2 Land 3 4 Total financial assets 5 6 7 8 9 10 Demand deposits 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 11 12 13 14 15 16 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 17 18 19 20 21 22 23 24 25 26 , 105,,837 99,, 350 6,• 487 72 ,180 5 12 ,931 6 19 ,044 7 146 ,305 8 106 ,385 9 21 ,612 10 29 30 31 32 33 29 30 31 32 33 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 34 35 36 Life insurance reserves Pension fund reserves Interbank claims, net 207 ,364 839 ,642 - 2 7 ,604 216,,308 910 ,736 -68,,860 223,,279 1 ,081,,288 -102,,506 231,,100 1 ,280 ,083 -102,,585 236,,066 1 ,402,,033 -90,,927 246 ,507 1 ,652,,844 -69,,029 263,,728 1 ,888,,117 -55,,239 37 38 39 40 41 42 43 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 61 ,808 286 ,386 80 ,765 1 ,910 25 ,909 128 ,839 48 ,963 59,,841 340 ,917 85 ,172 1 ,930 27 ,102 161 ,519 65 ,194 76,,851 369 ,505 98,,316 2,,043 28 ,970 174 ,175 66,,001 112,,121 401 ,182 115,,844 2 ,068 28,,854 195 ,463 58 ,953 136,,679 475,,016 148,,872 2,,479 29,,518 219,,526 74,,621 240,,230 573,,431 197,,454 2,,668 32,,078 252,,396 88,,835 413,,473 700,,516 268,,402 2,,747 36,,090 284,,632 108,,645 460,,144 835, 794 335,,171 3,,029 40, 779 323, 757 133,,058 37 38 39 40 41 42 43 44 45 46 47 Security debt Trade debt Taxes payable Miscellaneous liabilities 33 ,405 36,,496 39 ,534 3 ,662 475 ,863 1,,951 552,,930 2 ,071 576 ,188 43 ,654 1,,023 1 ,714 667 ,533 50,,526 1,,545 1,,406 742,,170 74,,409 2,,336 1,,877 837,,025 76,,096 3,,396 1,,927 949,,443 63,,023 3,,221 1, 682 1,,034, 891 44 45 46 47 251 ,713 125 ,805 125 ,908 248 ,890 119,,764 129,,126 254 ,304 120,,992 133,,312 274 ,270 130,,190 144,,080 327,,906 180 ,540 147,,366 373,,988 211,,308 162,,680 438,,388 241,,650 196,,738 465,,179 48 233,,660 49 231,,519 50 259 .984 45 ,801 272,,455 50,,463 319 ,396 51,,624 356,,976 54,,900 376 ,481 61,,444 521,,769 68,,728 564 ,471 77,,468 466,,181 51 88, 633 52 48 Net worth Approximate share stock cos. 49 Approximate share other cos. 50 Memo: 51 Market value of equities 52 Total fin. inst. real estate Date art In millions of dollars. October 1988 National Net North National Net North Stock-Flow Reconciliation for Consolidated Domestic Net Assets 31 Annual Flows Annual Flows 1952 Domestic investment flows: 1 2 3 69,.999 33,,038 36,,961 61,,521 36 ,113 25 ,408 85 849 39 ,458 46 ,391 90,,342 45,,663 44,,679 82 ,782 49 ,708 33,,074 87,,600 53,,341 34 ,259 86,,166 57,,591 28,,575 4 5 3,,018 39,,979 1 ,297 *26,,705 - 2 ,249 44 ,142 656 45,,335 322 33 ,396 -1,,728 32,,531 -260 28,,315 108,,591 Purchase of physical assets 60,,650 - Capital consumption 47,,941 = Net capital formation 26 • Net foreign investment 47 ,967 * Net investment flows by domestic sectors 1 2 3 4 5 Adjustments for tangible assets: 20,572 8,683 961 4,201 43,404 21.757 32,935 18,006 6,060 8,593 2,052 7,684 2,637 15,143 -3 9 10 1.532 -842 1.322 Revaluations of reproducible 20,998 tangible assets 17,214 Change in land values Less: Adjustments of capital consumption -1 to Balance Sheet basis Adjustments to net foreign investment: 1,518 Reval. of net foreign claims - Reval. of SDR holdings 6 7 8 9 10 Foreign purchases of 127 U.S. corporate equities - U.S. purchases of 173 foreign equities 11 -144 -21 3 120 255 55 483 12 15 -18 24 76 60 -51 256 13 69,,890 31,,841 110,,814 95 ,480 49,,566 44 ,115 46 ,239 87 ,652 14 69,,890 31,,841 110,,814 95 ,480 49,,566 44,,115 46 ,239 By sector: 87 ,652 Total, all sectors 15 16 17 18 19 20 21 61,,792 71,,850 40,,367 1 ,854 9 ,262 19 ,160 1 ,207 35,,343 46 ,490 34 ,212 - 2 ,948 3 ,628 10 ,264 1 ,334 102,,796 158,,376 101,,122 20,,037 11,,655 23,,115 2,,447 95 ,511 139 ,789 92 ,085 12 ,199 9 ,595 24 ,167 1 ,743 56,,990 75 ,323 54 ,223 -491 3 ,495 15 ,894 2 ,202 50,,968 46,,092 26,,819 -1 ,754 3 ,910 15,,194 1 ,923 54 ,620 135 ,460 110 ,048 2 ,021 3 ,531 14 ,834 5 ,026 84 ,809 Private sectors, consolidated 151 ,672 Sector basis, total Households 109 ,634 Farm business 3 ,184 Nonfarm noncorp. business 7 ,941 Nonfinancial corp. business 27 ,191 Private finan. institutions 3 ,722 15 16 17 18 19 20 21 22 23 24 10 ,986 4 ,489 6 ,497 887 513 374 30,,289 3 ,829 26 ,460 20 ,940 1 ,285 19 ,655 3 ,038 -529 3 ,567 2 ,279 -343 2 ,622 5 ,411 - 2 ,225 7 ,636 10 ,902 - Change in eq.in noncorp.bus Proprietors' net invest. - 2 ,418 Revaluation of equity 13 ,320 23 24 25 26 27 -1 ,216 880 - 2 .096 7 ,754 368 7 ,386 23 ,944 438 23 ,506 22 ,493 1 ,529 20 ,964 13 ,686 922 12 .764 - 8 ,230 634 - 8 ,864 70 ,642 193 70 ,449 49 ,545 - Change In HH corp. equities Net purchases 333 Revaluation 49 ,212 25 26 27 28 29 30 288 361 -73 2 .506 878 1 .628 1 ,347 989 358 845 725 120 1 .609 1 ,378 231 1 ,075 1 ,338 -263 4 .787 1 ,497 5 .290 6 ,416 - Change/fin.Inst.corp.shares Net purchases 1 ,484 Revaluation 4 .932 28 29 30 31 32 33 34 35 7,604 -1,048 8,644 5,273 -1,991 7.238 26 4,180 -1,300 5.459 21 -7,028 -2,185 -4.874 31 -8,440 8 -5,324 -1,764 -3,573 13 -9.363 -3,904 -5,473 14 • Change In net finan. assets of -572 public sectors -4,243 State 8 local governments 3,653 U.S. government 18 Sponsored credit agencies Monetary authority 31 32 33 34 35 36 37 38 1.249 -103 -652 -765 2,027 560 2,000 -799 -2.682 -1.764 -1.115 2.483 -2.410 1,395 1,544 -2,930 1.401 -2,658 1,159 2.481 -1,804 2.109 5.110 39 754.108 785,949 896.765 992.243 1.041.809 1.085.924 40 261,41$ 260.86$ 288,255 333,406 551.624 571.556 -2.026 -6,431 17 2.602 1,219.815 572.495 = Net change in consolidated domestic net worth • Other adjustments: Nonflnanclal discrepancy 36 Unallocated finencial flows 37 Unallocated revaluations 38 Total domestic net assets at year end 405.906 Memo* Gross National Product 59 40 October 1988 National Net North National Net North Stock-Flow Reconciliation for Consolidated Domestic Net Assets 32 Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 Domestic investment flows: 1 Purchase of physical assets 2 - Capital consumption 3 = Net capital formation 4 • Net foreign investment 5 = Net investment flows by domestic sectors 110 ,864 67 ,517 43 ,347 n o ,,741 72,,918 37,,823 100 ,673 76 ,260 24,,413 122 ,980 79 ,780 43 ,200 121 ,645 8 2 ,586 39 ,059 119 ,017 8 5 ,200 33,,817 134 ,670 8 7 ,799 46,,871 144 ,905 91 ,280 53,,625 1 2 3 -1,,323 42,,024 4,,569 42,,392 356 24,,769 -1,,878 41,,322 1 ,805 40,,864 2,,833 36,,650 2 ,261 49,,132 4,,053 57,,678 4 5 8,614 21,037 8,775 23,287 4,400 20,330 -2,977 21,842 -1,549 19,318 96 13,739 -5,974 16,434 6 7 -3 -1 1 -3 -1 -3 8 117 - 207 - 786 - -418 - 682 - 213 - 256 147 -54 351 203 323 109 225 11 111 35 332 195 663 762 969 1 ,105 12 111 ,256 72 ,275 56 ,653 66 ,993 5 8 ,851 54,665 62 ,321 66 ,460 13 Adjustments for tangible assets: Revaluations of reproducible 6 tangible assets 35,166 7 Change in land values 28,977 Less: Adjustments of capital consumption 8 to Balance Sheet basis Adjustments to net foreign investment: 9 Reval. of net foreign claims 4,944 10 Reval. of SDR holdings Foreign purchases of 11 U.S. corporate equities - U.S. purchases of 12 foreign equities 13 = Net change in consolidated domestic net worth - -801 9 - 1 0 By sector: 14 Total, all sectors 111 ,256 72 ,275 56 ,653 66 ,993 58 ,851 54,665 62 ,321 15 Private sectors, consolidated 16 Sector basis, total 17 Households 18 Farm business 19 Nonfarm noncorp. business 20 Nonfinancial corp. business 21 Private finan. institutions 111 ,051 148 ,641 92 ,256 7 ,093 11 ,606 35 ,050 2 ,636 75 ,154 49 ,878 10 ,552 6 ,768 6 ,218 24 ,746 1,,594 73 ,134 200,,600 163,,912 9,,240 6,,640 15,,345 5,,463 72 ,835 113 ,116 81 ,159 3 ,654 4 ,507 2 0 ,427 3 ,369 62 ,350 64 ,085 46 ,305 1 ,150 4 ,802 8 ,370 3 ,458 63,040 187,491 157,317 4,858 5,291 12,970 7,055 72 ,105 17 ,649 - 1 0 ,289 4 ,200 6 ,873 13 ,553 3 ,312 22 - Change In eq.in noncorp.bus. 23 Proprietors' net invest. 24 Revaluation of equity 18 ,202 - 1 ,641 19 ,843 12,,513 -1,,127 13,,640 15,,233 75 15,,158 7 ,905 -3,,477 11,,382 5 ,872 - 2 ,838 8 ,710 9,808 51 9,757 10 ,779 58 10 ,721 11,,116 22 1,,110 23 10,,006 24 25 - Change in HH corp. equities 26 Net purchases 27 Revaluation 17 ,586 965 16 ,621 -37,,373 388 -37,,761 101,,402 156 101,,246 26,,103 -1,,132 27,,235 - 7 ,742 -1,,404 - 6 ,338 99,497 -1,061 100,558 - 6 1 ,745 - 2 ,714 - 5 9 ,031 72,,511 25 -2,,995 26 75:,506 27 28 - Change/fin.Inst.corp.shares 29 Net purchases 30 Revaluation 1 ,802 1 ,469 333 -416 2,,280 -2,,696 10, 831 2,,400 8, 431 6,,273 3 ,321 2,,952 3 ,605 3 ,430 175 15,146 4,055 11,091 -3,,490 4,,183 - 7 ,673 12,,733 2 8 3,,873 29 8,,860 30 934 -3,,363 4,,284 13 -2, 8 3 2 - 4 ,,328 1, 458 38 - 1 5 , 910 - 4 , 797 - 1 1 , 148 35 - 6 ,,710 - 3 , 659 - 3 ,,081 30 -1,,494 - 3 ,,223 1,,698 31 -9,728 —4,068 —5,706 46 -8,,172 -3,,292 -4,,935 55 - 3 , 628 - 2 , 019 - 1 . 668 59 1,,895 -4,,504 1,,880 1, 172 -21 - 1 , 198 219 •703 -87 1, 545 1, 123 - 1 .8 0 0 2,,807 - 2 ,,378 - 2 , 434 1,209 147 -3 -67 - 1 ,,271 -274 605 36 1, 480 37 - 8 3 3 38 331,,071 1.403. 346 1.459. 999 1.526, 992 1,585,,843 1,640,508 1.702, 8 2 9 1.769. 289 39 428,212 451,036 45*.736 495,805 515,323 533,815 574,643 606,898 40 31 32 33 34 35 • Change in net finan. assets of public sectors State 6 local governments U.S. government Sponsored credit agencies Monetary authority 36 37 38 • Other adjustments: Nonfinancial discrepancy Unallocated financial flows Unallocated revaluations 39 Total domestic net assets at year end 40 Memo* Gross National Product Date ere In millions of dollers. 66 ,460 14 68 ,836 165 ,196 135 ,503 5 ,774 5 ,746 13 ,986 4,,187 15 16 17 18 19 20 21 31 32 33 34 35 October 1988 National Net Worth National Net Worth 33 Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows 1966 1967 1968 1969 1970 , 1971 Domestic investment flows: 1 2 3 156,,473 95 • 666 60,,807 179,,610 100,,628 78,,982 197,,135 107,,489 89,,646 196,,314 116,,768 79,,546 218 ,006 127,,999 90 ,007 239 ,444 141 ,450 97 ,994 234,,465 154,,577 79,,888 4 5 5,,917 66,,724 4,,971 83,,953 3,,661 93,,307 2,,375 81,,921 1,,051 91,,058 -1,,121 96 ,873 2,,978 82,,866 270,,070 Purchase of physical assets 169,,383 - Capital consumption 100,,687 = Net capital formation • -10, ,498 + Net foreign investment 90,,189 = Net investment flows by domestic sectors Adjustments for tangible assets: 12,863 22,045 11,915 22,907 45,466 40,466 36,010 17,411 95,372 24,422 91,792 24*511 8 -2 -2 -2 -2 -4 -1 9 10 1,905 - 384 259 612 -25* 617 - 1,113 - 1,756 - -1,026 - 11 -292 -400 -305 698 2,097 1,565 697 12 678 759 720 1,308 1,569 1,549 1,076 13 102 ,569 118 ,261 178 ,569 135 ,351 2 1 2 ,497 214 ,949 176 ,953 236 ,749 176 ,953 By sector: 236 ,749 Total, all sectors 14 102 ,569 118,,261 178 ,569 135 ,351 2 1 2 ,497 214 ,949 15 16 17 18 19 20 21 109 ,208 184 ,677 139 ,141 6 ,601 9 ,517 22 ,889 6 ,529 119,,081 220 ,278 163 ,378 12 ,822 9 ,258 29,,528 5,,292 179 ,427 142 ,932 73 ,978 7 ,731 20,,284 39 ,618 1,,321 154 ,010 334 ,020 2 7 2 ,713 10 ,290 7 ,194 37 ,029 6 ,794 223 ,222 406 ,398 320,,671 11,,060 19,,482 46,,451 8,,734 208 120 36 8 16 60 -1 22 23 24 15 ,656 -806 16 ,462 21,,183 259 20,,924 27,,473 -405 27,,878 16 ,764 -1,,080 17 ,844 25 26 27 46,,996 -2,,080 49,,076 64,,803 ,.-4,,772 69,,575 -59,,573 - 3 ,,490 - 5 6 ,,083 28 29 30 12,,817 4,,367 8,,450 15,,211 5,,930 9,,281 31 32 33 34 35 -6,912 -3,042 -3,919 49 36 37 38 77,387 18,105 Revaluations of reproducible 111,737 tangible assets 38,621 Change in land values Less: Adjustments of capital consumption -2 to Balance Sheet basis 6 7 - Adjustments to net foreign investment: - 3 , 6 1 7 Reval. of net foreign claims 94 Reval. Of SDR holdings 9 10 Foreign purchases of 836 U.S. corporate equities - U.S. purchases of 1,113 foreign equities ' domestic net worth ,075 ,264 ,265 ,577 ,455 ,483 ,516 191 ,016 202 ,104 130 ,174 5 ,337 13 ,553 54 ,297 ' -1,,257 267 ,571 Private sectors, consolidated 451 ,419 Sector basis, total 325 ,762 Households 18,,749 Farm business 25 ,645 Nonfarm noncorp. business 70,,165 Nonfinancial corp. business 11,,098 Private finan. institutions 15 16 17 18 19 20 21 29,,768 - 2 ,,967 32,,735 24 ,432 - 6 ,055 30,,487 18 ,516 -4,,408 22,,924 43,,082 - Change in eq.in noncorp.bus -2,,200 Proprietors' net invest. 45,,282 Revaluation of equity 23 24 135 ,399 -5,,664 141,,063 130,,619 - 1 0 ,,729 141,,348 - 1 0 7 ,827 -7,,298 -100,,529 -16,,459 -2,,765 -13,,694 95,,308 - Change in HH corp. equities -5,,446 Net purchases 100,,754 Revaluation 25 26 27 - 4 ,,395 5,,850 - 1 0 ,,245 27,,847 8,,751 19,,096 22,,789 10, 668 12,,121 -4,,416 12,,024 — 16,,440 9,,031 10,,820 - 1 ,,789 45,,458 - Change/fin.inst.corp.shares 19,,380 Net purchases 26,,078 Revaluation 28 29 30 -3,363 -2,905 -513 55 -4,880 ^-2,463 -2,463 46 -18,288 -4,803 -13,527 42 -14,523 -5,114 -9,424 15 -3,776 -9,997 -16,467 -4,674 • Change in net finan. assets of -32,154 public sectors -9,014 State 8 local governments -23,235 U.S. government 95 Sponsored credit agencies Monetary authority 31 32 33 34 55 1,395 -352 -770 1,241 1,896 -594 -2,104 -78 6,204 376 -750 3 1,121 3,326 -649 3,896 9,302 -2,548 239 4,619 -2,454 -2,958 4,612 -322 1,871,858 1,990,119 2,168,688 2,304,039 2,516,536 2,731,485 2,908,438 3,145,187 649,774 705,099 771,982 816,382 892,652 963,946 1,015,458 1,102,684 Memo: Data are in millions of dollars. 6,186 35 -11,810 17 • Other adjustments: Nonfinancial discrepancy 36 Unallocated financial flows 37 Unallocated revaluations 38 Total domestic net assets at year end Gross National Product 39 40 October 1988 National Net Worth 2 ^ National Net North Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual Flows 1972 1979 Domestic investment flows: 1 Purchase of physical assets 2 - Capital consumption 3 = Net capital formation 313 ,207 184 ,349 128 ,858 363 ,507 201 ,554 161 ,953 364 ,616 231 ,333 133 ,283 354,,920 268,,788 86,,132 439,,142 297,,791 141,,351 528 • 552 332 ,704 195,,848 622 ,423 376 ,700 ,245 ,723 673 ,799 430 ,714 243,,085 1 2 3 4 • Net foreign investment 5 = Net investment flows by domestic sectors - 6 ,964 121,,894 4,,485 166,,438 - 7 ,498 125,,785 24,.031 110, 163 14, 752 156, 103 - 1 6 , 536 179, 312 -2,,470 243,,253 25,,896 268, 981 4 5 Adjustments for tangible assets: Revaluations of reproducible ss:s ' 8 to Balance Sheet basis - -3 sws; -3 8 2 Adjustments to net foreign investment: :: i::: *-*% -*:§«^ Foreign purchases of " U.s:Siu"n«estof'qUltleS 12 foreign equities = Net change in consolidated domestic net worth 2 ' 7 " 5 " ^ 3 1 7 2,422 1,659 „ 355 408 -351 1,025 12 313,617 517,726 675,122 430,782 594,685 744,099 1,088,113 1,116,333 13 313.617 517.726 675.122 <30.782 5,4.685 744.0,, 1.088.113 1.116.333 14 £ 1 S I 2 1 ::i;i :;ii E i * S iiS S i EEii i § 3 # i | i | i s 3 | | lie; 1 1 a a a a i m By sector: 14 Total, all sectors I S r i z & S r 5 1 : h i'lEE-?'"™ S I riliril ill 3 1 H i H I I I - a e s i • Change in net finan. assets of ! Ilk;;;::;:: # - 35 Other adjustments: i s s s s i s s Total domestic net assets at year end 4 0 Memo: Gross National Product Data are in millions of dollars. "i ,-:ii * s $ s ^ a - a : 3.458.804 3.976.530 4,651.652 5.082.434 5,477.119 6.421.218 7.509.331 8.625.664 39 1.212.760 1.359.316 1.472.807 1.598.426 1,782.792 1.990.504 2.249.677 2.508,170 40 October 1988 National Net Worth National Net North 35 Stock-Flow Reconciliation for Consolidated Domestic Net Assets Annual Flows Annual 'Flows 1980 Domestic Investment flows: 1 2 3 656 ,250 491,,212 165 ,038 755,,387 550,,352 205,,035 699,,925 598 ,553 101,,372 791,,400 622,,974 168,,426 1,000,,400 652,,188 348 ,212 1,015,,325 691,,797 323,,528 1,072,,500 736,,468 336,,032 4 5 31 ,232 196 ,270 27,,392 232 ,427 30 ,834 132,,206 - 2 8 ,350 140,,076 -71,,844 276,,368 -104,,164 219,,364 -133,,397 202,,635 1,134,,775 Purchase of physical assets 785,,300 - Capital consumption 349,,475 = Net capital formation -151,,010 • Net foreign Investment 198,,465 = Net investment flows by domestic sectors Adjustments for tangible assets: 6 7 611,437 305,663 540,896 279,171 64,954 53,487 233,469 169,443 177,248 58,647 109,665 70,183 144,033 194,236 8 -1 -2 13 27 11 27 -5,544 Revaluations of reproducible 359,320 tangible assets 200,111 Change in land values Less: Adjustments of capital consumption -6,422 to Balance Sheet basis 9 10 -14,308 -142 -10,542 -344 -27,528 -220 -4,983 -317 -11,457 -388 13,647 749 13,867 830 Adjustments to net foreign investment: 67,573 Reval. of net foreign claims 1,392 Reval. of SDR holdings 11 5,357 5,761 3,904 5,410 -2,981 4,969 17,757 12 2,366 213 1,370 3,683 944 3,689 1,280 13 1 ,101, 912 1,,047, 158 225,,420 539,,388 496,,482 414,,861 577,,622 851,,156 14 1 ,101, 912 1,,047,,158 225,,420 539,,388 496,,482 414,,861 577,,622 By sector: 851,,156 Total, all sectors 15 16 17 18 19 20 21 1 ,182,,461 1 ,812,,194 1 ,161,,192 80,,515 178,,373 355,,509 36,,605 1 ,141,,276 1 ,297,,136 747,,754 -15,,757 237,,749 330.213 - 2 ,,823 382,,523 557,,627 460,,929 -47,,119 14,,721 123,,682 5,,414 724,,749 1,055,,236 888,,239 - 1 4 ,,310 62,,965 98,,376 19,,966 731,,826 688,,792 559 ,275 -109,,186 57,,025 128,,042 53,,636 589,,344 1,083 ,835 1,021,,636 - 8 6 ,024 40,,891 61,,250 46 ,082 783,,503 1,107,,184 983,,298 -45,,130 44,,345 60,,271 64,,400 1,006 ,603 Private sectors, consolidated 983,,892 Sector basis, total Households 780,,755 Farm business 24 ,448 Nonfarm noncorp. business 56 ,581 Nonfinancial corp. business 95,,317 Private finan. Institutions 26,,791 16 17 18 19 20 21 22 23 24 253,,252 -76,,856 330,,108 223,,095 -48,,360 271,,455 - 2 9 ,100 - 9 1 ,382 62,,282 49,,657 - 7 9 ,,634 129,,291 - 4 4 ,518 - 8 6 ,518 42,,000 -39,,111 -89,,161 50,,050 2,,374 -76,,177 78,,551 79,,317 - Change in eq.in noncorp.bus Proprietors' net invest. - 9 7 ,772 Revaluation of equity 177,,089 23 24 25 26 27 299,,169 -10,,953 310,,122 -59,,901 -42,,361 -17,,540 122,,021 - 1 8 ,887 140 ,908 149,,730 -22,,914 172,,644 -32 - 7 5 ,624 75 ,592 362 ,130 - 1 0 3 ,436 465 ,566 165,,363 -121,,647 287,,010 - 1 5 2 ,883 - Change in HH corp. equities Net purchases - 9 9 ,578 Revaluation - 5 3 ,305 25 26 27 28 29 30 77,,312 22,,994 54,,318 - 7 ,334 28,,052 -35,,386 8 2 ,183 2 7 ,427 54,,756 131,,100 48,,336 82,,764 1 ,516 13 ,270 - 1 1 ,754 171 ,472 34 ,175 137 ,297 155,,944 35,,927 120,,017 5 0 ,855 - Change/fin.inst.corp.shares Net purchases 25,,063 Revaluation 25,,792 28 29 30 31 32 33 34 35 -71,127 -6,026 -65,438 337 -78,687 -1,827 -77,358 498 -153,212 -792 -153,727 1,307 -185,901 4,634 -191,402 867 -168,952 19,151 -188,970 867 -192,424 22,848 -213,829 -1,443 -214,506 15,163 -229,236 -433 • Change in net finan. assets of public sectors -196,151 State 8 local governments -1,940 U.S. government -194,569 Sponsored credit agencies 358 Monetary authority 36 37 38 -6,075 3,054 -6,401 -5,216 31,604 -41,819 75 8,177 -12,143 -5,325 774 5,091 -5,400 -15,877 -45,115 4,650 12,742 549 13,700 14,620 -19,695 8,025 -24,262 56,941 39 9,727,576 10,774,734 11,000,154 11,539.542 12,036,024 12,450,885 13,028,507 13,879,663 40 2,731.947 3,052,632 3,165.950 3,405,800 3,772,200 4,014,925 4,240,300 Data are In millions of dollars. 9 10 Foreign purchases of 15,515 U.S. corporate equities - U.S. purchases of -2,358 foreign equities = Net change in consolidated domestic net worth Other adjustments: Nonfinancial discrepancy 36 Unallocated financial flows 37 Unallocated revaluations 38 Total domestic net assets at year end 4,526,750 Memo: Gross National Product 40 October 1988 Tangible Asset Holdings Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows 1948 1949 1950 1951 1952 1953 1954 69 .999 36 .223 6 ,042 6 .729 20 .652 353 61 .521 38 .054 3 ,662 4 .546 14 ,902 357 85 ,849 47 ,761 5 ,309 8 ,358 24 ,027 394 90 ,342 47 ,499 5 ,778 6 ,080 30 .554 431 8 2 ,782 .46 ,779 3 ,571 6 .460 25 ,416 556 87 ,600 51 ,646 1 ,445 7 ,842 26 ,235 432 86,166 51,995 2,442 7,812 23,264 653 7 Capital consumption Households 8 9 Farm business Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Private finan. insts. 12 33 ,038 16 ,083 1 ,817 4 ,454 10 ,424 260 36 ,113 17 ,853 2 ,069 4 ,716 11 ,204 271 39 ,458 19 ,848 2 ,305 4 ,999 12 ,023 283 45 ,663 23 ,139 2 ,671 5 ,695 13 ,833 325 49 ,708 25 ,582 2 ,925 6 ,009 14 ,840 352 53 ,341 27 ,777 3 ,082 6 ,255 15 ,852 375 57,591 30,763 3,192 6,462 16,765 409 60,650 7 32,353 8 3,300 9 6,778 10 17,785 11 434 12 13 Net capital formation Households 14 Farm business 15 16 Nonfarm noncorp. business Nonfinancial corp. bus. 17 Private finan. insts. 18 36 ,961 20 ,140 4 ,225 2 ,275 10 ,228 93 25 ,408 20 ,201 1 ,593 -170 3 ,698 86 46 ,391 27 ,913 3 ,004 3 ,359 12 ,004 111 44 ,679 24 ,360 3 ,107 385 16 ,721 106 33 ,074 21 ,197 646 451 10 ,576 204 34 ,259 23 ,869 - 1 ,637 1 ,587 10 ,383 57 28,575 21,232 -750 1,350 6,499 244 47,941 31,065 -949 2,748 14,764 313 19 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 1 ,297 - 2 ,249 656 322 -1 ,728 -260 -4,,548 5 ,766 - 4 , 184 - 2 • 275 —4 i ,826 971 4 ,481 ,984 -1,,570 170 3,,057 840 - 9 ,539 2 ,820 -2,,971 -Z,,359 -7,,681 1,,652 -613 10 ,772 -3 ,108 -385 - 8 ,727 835 8 ,466 11 ,143 -677 -451 -3,,197 1,,648 6 ,655 9 ,107 1 ,586 -1 ,587 - 3 ,931 1 ,480 7,900 6,219 737 -1,350 -539 2,833 -1,827 5,527 916 -2,748 -6,918 1,396 20 21 22 23 24 25 26 27 28 29 30 7 ,669 -1 ,048 8 ,657 8 52 - 5 ,211 -1,,764 -3,,494 13 34 5 ,290 -1,,991 7,,270 26 -15 4 ,199 -1 ,300 5 ,448 21 30 - 7 ,029 - 2 ,185 -4,,919 31 44 - 9 ,778 -2,,026 -7,,810 17 41 -9,319 -3,904 —5,466 14 37 -256 -4,243 3,937 18 32 26 27 28 29 30 -103 2,,027 2,,000 - 2 ,930 -1,,115 1,,395 1,159 32 Reval. of physical assets 33 Households Farm business 34 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 20,.572 7,,262 -2,,192 5.,455 7,,765 -2,,152 130 961 1,,172 -1.,651 1,,416 1,,893 1,,856 -13 43,,404 15,,817 6,,514 6,,380 9,,508 -4,,965 220 32 ,935 12,,846 2,,795 6,,807 8 ,975 -1,,199 313 6,,060 3,,106 -565 1,,110 3,,465 1,,000 -56 2,,052 -2,,068 1,,087 185 1,,641 -1,,000 207 2,637 -259 564 788 1,231 -300 13 20,998 2,987 1,211 4,253 10,438 -1,750 359 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures Plant and equipment 41 Inventories 42 Consumer durables 43 20, 572 9,,953 9,,188 537 894 961 3,,696 2,,811 -4,,963 -583 43,,404 11,,609 12, 865 12,,239 6,,691 32,,935 12,,263 13,,364 2,,447 4,,861 6,,060 3,,965 5, 118 -3,,892 869 2,,052 768 1,,917 633 -1, 266 2,637 4,256 1,952 -695 -2,876 20,998 8,151 13,706 1,576 -2,435 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business Private finan. insts. 49 8, 683 2,,958 802 2, 436 2, 454 33 4, 201 2, 037 -1, 799 2, 007 1, 943 13 21,,757 4, 010 11, 914 2, 847 2, 933 53 18,,006 3,837 7,859 2, 858 3, 386 66 8, 593 2. 739 481 2, 341 2, 999 33 7,,684 2, 540 -1, 386 2, 467 3, 987 76 15,143 3,478 3.225 3,010 5,306 124 17,214 4,514 4,562 3.345 4,642 151 44 45 46 47 48 49 195 105 -301 2 -1 198 112 -311 2 -1 -5 200 118 -320 -1 -1 206 125 -551 -1 - 50 51 52 53 54 55 1 Purchases of physical assets Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 6 Private finan. lnsts. 20 21 22 23 24 25 31 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 50 Adj. to capital consumption Households 51 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. 56 57 58 59 60 61 62 65 64 65 *6 67 3 ,018 - 167 74 241 -1 170 81 252 - - Memo: Total gross domestic Investment, Flow of Funds basis 73, 120 Private sectors 65, 451 Households 41. 989 Farm business 1.858 Nonfarm noncorp. business 4 •454 Nonfinancial corp. busines 15,826 Private finan. institution 1. 324 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Dai 7, 669 - 1 . 048 • .657 S 52 176 87 -262 -1 - -2 189 98 -289 - - 1955 108,591 63,418 2,351 9,526 32,549 747 1 2 3 4 5 6 13 14 15 16 17 18 26 19 2,109 31 60. 791 66. 002 40, 03* 2, 092 4. 716 17, 959 1. 197 81, 600 76, $10 50, 581 2, 338 4, 999 16, 346 2, 046 93. 928 89. 729 58. 271 2.,670 5. 695 21. 827 1.266 84, 219 91, 248 57, 922 2,894 6, 009 22, 219 2, 204 84, 477 94, 255 60, 755 5. 051 6.255 22. 504 1, 912 84,747 94,066 58.214 5.179 6,462 22,725 3,48* 106,508 106,764 68,945 5,267 6.778 25,631 2,145 56 57 58 59 60 61 62 - 5 .211 764 -3,494 IS $4 5.290 -1, $91 7.270 26 -15 4. 199 - 1 . 500 5. 448 21 30 - 7 . 029 - 2 . 185 —4, 919 51 44 - 9 , 778 - 2 , 026 -7.810 17 41 -9.519 -5,904 —5.44* 14 37 -256 -4.245 $.957 IS 32 65 64 65 66 47 October 1988 Tangible Asset Holdings Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets g y Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 1 2 3 4 5 6 110, 864 62. 447 3, 304 7, 183 37. 178 752 110. 741 62. 090 2, 508 9, 549 35, 731 863 100, 673 59, 154 4,,126 8, 729 27, 798 866 122, 980 69, 394 3,,713 10, 890 37, 960 1-,023 121, 645 69,,359 3,,548 10,,086 37,,845 807 119, 017 66,,145 3,,711 11, 667 36,,466 1, 028 134,,670 72,,481 4,,168 13,,274 43,,765 982 144,,905 Purchases of physical assets Households 79,,017 Farm business 4,,637 Nonfarm noncorp. business 15,,332 Nonfinancial corp. bus. 44,,573 Private finan. insts. 1,,346 1 2 3 4 5 6 7 8 9 10 11 12 67. 517 36, 142 3. 485 7. 355 20, 032 503 72, 918 38, 934 3, 599 7, 784 22, 048 553 76, 260 40,,980 3,,659 7,,986 23,,059 576 79, 780 43, 078 3, 732 8,,226 24,,135 609 82,,586 44,,591 3,,740 8,,469 25,,134 652 85,,200 46,,264 3, 734 8,,635 25,,882 685 87,,799 47,,620 3,,762 8,,864 26,,827 726 91,,280 Capital consumption Households 49,,522 Farm business 3,,807 Nonfarm noncorp. business 9,,155 Nonfinancial corp. bus. 28,,002 Private finan. insts. 794 7 8 9 10 11 12 13 14 15 16 17 18 43, 347 26, 305 •181 •172 17, 146 249 37, 823 23, 156 -1,,091 1, 765 13,,683 310 24,,413 18,,174 467 743 4,,739 290 43,,200 26,,316 -19 2,,664 13,,825 414 39,,059 24,,768 -192 1,,617 12,,711 155 33,,817 19,,881 -23 3,,032 10,,584 343 46,,871 24,,861 406 4,,410 16,,938 256 53,,625 Net capital formation Households 29,,495 Farm business 830 Nonfarm noncorp. business 6,,177 Nonfinancial corp. bus. 16,,571 Private finan. insts. 552 13 14 15 16 17 18 19 -1,,323 4,,569 356 -1,,878 1,,805 2,,833 2,,261 5,,985 18,,021 -947 -6,,177 - 5 ,863 951 19 4,,053 Net foreign investment Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 20 21 22 23 24 25 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 20 21 22 23 24 25 2, 562 12,,019 138 172 -11., 128 1,,361 7,,283 14,,046 1, 040 -1,,765 -7,,330 1,,292 16,,875 16,,603 -499 -743 -771 2,,285 3,,758 10,,875 -18 -2,,664 -6,,030 1,,595 5,,877 13,,314 157 -1 ,617 • -8,,432 2,,455 12,,311 17,,180 -6 -3,,032 -4,,649 2,,818 11 ,775 18,,333 -407 -4 ,410 - 4 ,930 3,,189 26 27 28 29 30 619 -3 , ,363 3.,916 13 53 -2,,693 -4,,328 1,,528 38 69 -15,,816 -4,,797 -11,,113 35 59 -6,,759 -3,,659 -2,,938 30 -192 -1,,694 -3,•223 1,,469 31 29 -9,,625 -4,,068 -5,,670 46 67 - 8 ,243 -3 ,292 -5,,052 55 46 -3,,412 -2,,019 -1,,507 59 55 31 -4,,504 -21 -703 1,,123 -2,,378 147 -1,,271 1,,480 32 33 34 35 36 37 38 35,,166 8,,344 1,,532 6 ,419 15 ,717 -2,, 675 479 8 ,614 -3,,888 2 ,858 • 1,,459 6 ,518 -1,,525 142 8 .775 3 ,423 1,,413 1 ,740 1 ,888 : -250 61 4,400 -1,,147 252 1,,056 3,,849 -277 113 -2,,977 -3,,952 1,,524 649 -1,,651 -173 280 -1,,549 -1,,596 1.,027 -461 -363 271 115 96 -2,,888 ,884 1, 1 ,091 -541 26 576 -5,,974 Reval. of physical assets Households -6,,719 Farm business 710 Nonfarm noncorp. business -1,,853 Nonfinancial corp. bus. ,778 1, 54 - Inventory valuation adj. Private finan. insts. 164 32 33 34 35 36 37 38 39 40 41 42 43 35 ,166 4 ,878 20 ,356 4 ,151 5 ,781 8 ,614 1,,224 8 ,803 1 2,,178 - 3 ,591 8 ,775 2 ,785 2 ,416 1 ,518 2 ,056 4 ,400 1 ,042 4 ,274 -304 -612 -2,,977 905 -1,,991 734 -2,,625 -1,,549 548 -49 -728 -1 ,320 96 355 2 ,398 459 - 3 ,116 -5,,974 Revaluations by type of asset Residential structures -7,,506 Plant and equipment 2,,976 Inventories -56 Consumer durables -1,,388 39 40 41 42 43 44 45 46 47 48 49 28 ,977 9 ,173 6 ,926 5 ,293 7 ,382 203 21 ,037 3 ,641 6 ,473 3 ,154 7 ,559 210 23 ,287 3 ,865 8 ,955 3 ,505 6 ,744 218 20 ,330 4 ,190 6 ,546 3 ,590 5 ,787 217 21,,842 10 ,114 1,,520 4 ,895 5 ,097 216 19,,318 4,,111 5,,651 3,,663 5 ,622 271 13 ,739 3 ,816 4 ,272 3 ,514 1 ,916 . 221 16,,434 Change in land values Households 2,,883 Farm business 7,,889 Nonfarm noncorp. business 3,,507 Nonfinancial corp. business ,973 1, Private finan. insts. 182 44 45 46 47 48 49 50 51 52 53 54 55 214 139 -352 -1 -3 218 147 -369 2 -1 -1 222 157 380 1 229 168 -396 - - - 3 Adj. to capital consumption Households 270 Farm business 203 Nonfarm noncorp. business -475 Nonfinancial corp. business Private finan. insts. -1 50 51 52 53 54 55 56 57 58 59 60 61 62 114 ,045 113 ,426 74 .466 3 ,442 7 ,355 26 .050 2 ,113 115 ,331 118 ,024 76 ,136 3 ,548 7 ,784 28 ,401 2 ,155 101 ,732 117 ,548 75 ,757 3 ,627 7 ,986 27 ,027 3 ,151 119 .979 126 ,738 80 ,269 3 ,695 8 ,226 31 ,930 2 ,618 125 ,828 127 ,522 82 ,673 3 ,705 8 ,469 29 ,413 3 ,262 121 ,703 131 ,328 83 ,325 3 ,705 8 ,635 31 ,817 3 ,846 138 ,202 146 ,445 90 ,814 3 ,761 8 ,864 38 ,835 4 ,171 63 64 65 66 67 619 - 3 ,363 3 ,916 13 53 - 2 ,693 - 4 ,328 1 ,528 38 69 -15 ,816 - 4 ,797 -11 ,113 35 59 -6 ,759 - 3 ,659 - 2 ,938 30 -192 - 1 ,694 - 3 ,223 1 ,469 31 29 - 9 .625 - 4 ,068 - 5 ,670 46 67 - 8 ,243 - 3 ,292 - 5 ,052 55 46 Data are in millions of dollars. 236 176 -413 1 - -3 244 183 -430 - -1 256 192 -448 -1 Unallocated financial flows Memoi Total gross domestic investment, 147 ,478 Flow of Funds basis Private sectors 150 ,890 Households 97 ,038 Farm business 3 .690 Nonfarm noncorp. business 9 ,155 Nonfinancial corp. busines 38 ,710 Private finan. institution 2 ,297 - 3 ,412 - 2 ,019 - 1 ,507 59 55 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority 31 56 57 58 59 60 61 62 63 64 65 66 67 October 1988 Tangible Asset Holdings 38 Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1968 1969 1965 1966 1967 156,473 85,057 3,985 15,926 50,075 1,430 179,610 92,321 6,458 17,351 61,603 1,877 197,135 97,436 5,897 16,254 75.300 2,248 196,314 98,269 7,046 17,243 71,188 2,568 218,006 113,974 6,351 18,622 74,064 4,995 239,444 121,503 6,780 22,901 83,248 5,012 234,465 119,405 7,387 23,695 78,884 5,094 270,070 140,873 9,141 30,169 84,397 5,490 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 95,666 51,889 3,893 9,569 29,448 867 100,628 54,042 4,046 10,101 31,459 980 107,489 56,961 4,288 10,850 34,281 1,109 116,768 61,773 4,552 11,614 37,556 1,273 127,999 67,619 4,852 12,583 41,448 1.497 141 ,450 75,325 5,251 13,831 45,399 1,644 154,577 82,319 5,631 14,971 49,857 1,799 169,383 7 90,201 8 5,942 9 16,426 10 54,783 11 2,031 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Private finan. insts. 60,807 33,168 92 6,357 20,627 563 78,982 38,279 2,412 7,250 30,144 897 89,646 40,475 1,609 5,404 41,019 1,139 79,546 36,496 2,494 5,629 33,632 1,295 90,007 46,355 1,499 6,039 32,616 3.498 97,994 46,178 1,529 9,070 37,849 3,368 79,888 37,086 1,756 8,724 29,027 3,295 1 Purchases of physical assets 2 Households 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. 2,978 1,051 100,687 50,672 3,199 13,743 29,614 3,459 13 14 15 16 17 18 -10,498 19 19 Net foreign investment Net financial investment: 20 Private sectors 21 Households 22 Farm business 23 Nonfarm noncorp. business 24 Nonfinancial corp. bus. 25 Private finan. insts. 5,917 4,971 13,439 24,644 -102 -6,357 -7,014 2,268 6,568 26,796 -2,366 -7,250 -11,774 1,162 7, 789 33, 058 -1,527 -5,404 -18,951 613 21, 639 42, 936 —2 •453 -5, 629 -14,275 1, 060 12, 350 35,561 -1,456 -6, 039 -17,460 1, 744 -6, 748 26, 445 -1,468 -9, 070 -19, 101 -3,554 15,949 52,267 -1,748 -8,724 -20,295 -5,551 17,332 48,737 -3,184 -13,743 -16,055 1,577 20 21 22 23 24 25 26 27 28 29 30 -7,170 -3,042 -3,710 49 -467 -3,493 -2,905 -669 55 26 -4, 050 -2,463 -1, 651 46 18 -18,514 -4, 789 -13, 795 42 28 -14, 625 —5, 010 -9, 651 15 21 -3, 675 -9, 997 6, 247 35 40 -17,590 -4,674 -12,954 17 21 -32,442 -9,014 -23,469 95 -54 26 27 28 29 30 -352 1,896 -78 -750 3, 326 9,,302 4,619 32 Reval. of physical assets 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. 12,863 3,484 475 3,310 4,436 -494 664 11,915 -3,613 3,571 3,294 6,699 -1,245 719 45,,466 17,,797 1,,660 9 ,806 13 ,508 - 2 ,107 588 36,,010 14,,025 1 ,272 5 ,098 13 ,609 -1 ,554 452 95,,372 43,,437 4,,780 17 ,149 27 ,035 -3 ,651 680 91 ,792 36 ,179 6 ,579 15 ,473 28 ,472 -5 ,870 -781 77,387 27,030 2,123 11,310 30,911 -6,552 -539 111,737 43,790 7,404 19,682 36,296 -4,584 -19 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures 41 Plant and equipment 42 Inventories 43 Consumer durables 12,863 10,485 6,094 466 -4,182 11,915 4,502 11,495 3,760 -7,842 45 ,466 24 ,842 19 ,421 1 ,941 -738 36 ,010 13 ,199 17 ,394 1 ,953 3 ,464 95 ,372 50 ,563 34 ,259 6 ,470 4 ,080 91 ,792 41 ,964 35 ,668 10 ,870 3 ,290 77,387 20,312 43,480 4.797 8.798 111,737 55,706 50,757 9,725 -4,451 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 Private finan. insts. 22,045 5,831 8,643 4,218 3,091 262 22,907 4,823 10,633 3,968 3,251 232 40 ,466 20 ,096 8 ,100 8 ,443 3 ,654 173 17 ,411 5 ,435 9 ,529 2 ,252 234 -39 24 ,422 13 ,134 6 ,283 4 ,858 26 121 24 ,511 12 ,099 2 ,910 5 ,626 3 ,656 220 18,105 7,459 3,806 4,058 2,649 133 38,621 16,594 11,953 6,912 2,979 183 44 45 46 47 48 49 -2 -2 337 245 -583 -2 361 265 -629 1 -4 393 288 -684 -1 -1 444 320 -765 469 349 -817 -2 505 373 -880 1 -1 50 51 52 53 54 55 31 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. -2 4,612 31 -1 308 227 -537 1 -1 56 57 58 59 60 61 62 Memo: Total gross domestic investment, 162,742 Flow of Funds basis 169,912 Private sectors 109,701 Households 3,883 Farm business 9,569 Nonfarm noncorp. business 43,061 Nonfinancial corp. busines 3,698 Private finan. institution 182,685 186,178 119,117 4,092 10,101 49,829 3,039 200,874 204,924 130,494 4,370 10,850 56,349 2,861 199,439 217,953 141,205 4,593 11,614 56,913 3,628 215,731 231,686 149,535 4,895 12,583 57,934 6,739 229,021 232,740 147,948 5,312 13,831 64,191 1,458 232,824 250,743 171,672 5,639 14,971 58,918 -457 254,960 288,119 189,610 5,957 16,426 69,059 7,067 56 57 58 59 60 61 62 63 64 65 66 67 -7,170 -3,042 -3,710 49 -467 -3,493 -2,905 -669 55 26 -4,050 -2,463 -1,651 46 18 -18,514 -4,789 -13.795 42 28 -15,955 -5,010 -10,981 15 21 -3,719 -9,997 6,203 35 40 -17,919 -4,674 -13,283 17 21 -33,159 -9,014 -24,186 95 -54 63 64 65 66 67 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. 286 212 -499 October 1988 Tangible Asset Holdings Tangible Asset Holdings 39 Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1979 1973 1 2 3 4 5 6 313,207 164, 170 9,276 39, 139 94, 064 6, 558 363,507 183, 396 14, 082 42, 492 115,820 7, 717 364,616 180,396 11,211 32,931 132,086 7,992 354,920 193,876 16,904 25,609 110,931 7,600 439,142 237,517 13,570 27,350 152,947 7,758 528,552 284,225 19,088 39,282 177,135 8,822 622,423 327,703 20,870 47,366 215,024 11,460 673,799 Purchases of physical assets 356,068 Households 26,235 Farm business 44,312 Nonfarm noncorp. business 233,552 Nonfinancial corp. bus. 13,632 Private finan. insts. 1 2 3 4 5 6 376, 700 190, 344 13,557 36,564 129,844 6, 391 430,714 Capital consumption 215,204 Households 15,343 Farm business 42,935 Nonfarm noncorp. business 149,609 Nonfinancial corp. bus. 7,623 Private finan. insts. 7 8 9 10 11 12 243,085 Net capital formation 140,864 Households 10.892 Farm business 1,377 Nonfarm noncorp. business 83,943 Nonfinancial corp. bus. 6,009 Private finan. insts. 13 14 15 16 17 18 7 8 9 10 11 12 184, 349 97, 377 6,,605 17,,989 60,,111 2,,267 201, 554 106, 567 7,228 19, 965 65,,223 2,,571 231. 333 120,828 8, 308 22, 677 76, 301 3. 219 268, 788 137, 106 9, 789 26, 107 91,878 3, 908 297, 791 151, 657 10, 771 28, 514 102, 301 4, 548 332. 704 169, 015 12, 099 31, 945 114, 321 5, 324 13 14 15 16 17 18 128,,858 66 ,793 2 ,671 21 ,150 33 ,953 4 ,291 161,,953 76,,829 6 ,854 22 ,527 50 ,597 5 ,146 133.283 59. 568 2, 903 10, 254 55, 785 4, 773 86, 132 56, 770 7, 115 498 19, 053 3, 692 141, 351 85,860 2, 799 -1, 164 50, 646 3, 210 195,848 115,210 6, 989 7, 337 62,814 3, 498 245, 723 1 137, 359 7, 313 10,802 85, 180 5, 069 19 -6 ,964 4 ,485 -7, 498 24, 031 14, 752 -16, 536 -2,,470 20 21 22 23 24 25 9 ,267 52 ,264 -2 ,499 -21 ,150 -16 ,931 - 2 ,417 1 ,967 79 ,960 -6 ,255 -22 ,527 -50 ,616 1 ,405 8,,788 62,,597 -2,,681 -10,,254 -37,,254 -3,,620 94, 209 104,.678 -6, 568 498 10,,648 -15,,047 58, 445 76, 579 -2,,355 1,,164 -19,,137 2,,194 30, 559 72,,081 — 6,,698 -7,,337 -31,,603 4,,116 33,,043 61,,892 — 6,,411 -10,,802 -24,,217 12,,581 26 27 28 29 30 -17 ,128 1 ,586 -18 ,961 146 101 - 2 ,854 3 ,762 - 7 ,009 261 132 -12 ,621 -3 ,675 - 9 ,544 468 130 —80,,542 — 6 ,439 -74 ,610 271 236 —56 ,153 2,,737 -59 ,269 331 48 -38 ,566 16 ,900 — 56 ,044 : 355 223 -32 ,598 5 ,930 -39 ,728 520 680 -20,,062 3,,360 -24 ,198 556 220 31 897 5 ,372 - 3 ,665 10 ,364 12 ,460 - 8 ,529 - 2 ,915 -20 ,497 32 33 34 35 36 37 38 116,625 47,731 13.693 17,880 31,863 -1,152 220,722 86,209 24,697 30,604 59,236 -20,022 -46 428 .321 145 .218 14 ,828 53 ,028 171 ,391 -39 .457 4 .399 220 ,592 78 ,199 5 ,662 . 29,771 94 ,511 -10 ,952 1 ,497 257 ,879 110 ,877 7 ,692 46 ,907 74 ,435 -14 .911 3 ,057 358 ,044 164 ,050 10 ,969 65 ,559 96 ,636 -16 ,637 4 ,193 545 ,636 220 ,464 33 ,290 96 ,813 162 ,299 -25 ,298 7 ,472 520,058 Reval. of physical assets 184,774 Households 18,034 Farm business 122,083 Nonfarm noncorp. business 148,268 Nonfinancial corp. bus. -43,175 - Inventory valuation adj. 3,724 Private finan. insts. 32 33 34 35 36 37 38 39 40 41 42 43 116,625 61,492 41,660 17,312 -3,839 220,722 100,478 68,200 47,436 4,608 428 .321 120 .443 208 ,843 55 ,255 43 ,780 220 ,592 76 ,400 109 ,914 11 ,139 23 ,139 257 ,879 127 ,805 97 ,493 18 .436 14 .145 . 358,044 190 ,249 127 ,227 21 ,130 19 ,438 545 ,636 233 ,760 221 ,773 53 ,921 36 ,182 520,058 Revaluations by type of asset 235,073 Residential structures 160,521 Plant and equipment 73,626 Inventories 50,838 Consumer durables 39 40 41 42 43 44 45 46 47 48 49 71,546 19.694 24,499 18,766 8,399 188 128,318 35,934 53,885 25,841 12,407 251 111,029 31,762 29,635 26,233 22,891 508 95.006 46,702 23,638 6,125 -325 176,717 57,437 71,245 33,957 13,932 146 207,617 82,172 45,516 57,013 22,653 263 294,635 105,596 81,149 73,228 33,929 733 329,440 Change in land values Households 103,709 Farm business 101,700 Nonfarm noncorp. business 91,947 Nonfinancial corp. business 32,031 Private finan. insts. 53 44 45 46 47 48 49 548 421 -967 -3 618 467 -1,087 -1 368 549 -918 -1 423 672 -1,093 -3 473 768 -1,243 -1 644 1,027 -1.673 1 Adj. to capital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 50 51 52 53 54 55 50 51 52 53 54 55 -6,610 -2 18,866 -1 -1 -1 548 891 -1.440 1 -1 -2 -1 56 57 58 59 60 61 62 305,346 323,386 216,434 6,777 17,989 78,045 4,141 362,620 368,642 263,356 7,827 19,965 68,372 9,122 360.783 379.894 242.993 8.530 22.677 101,322 4.372 368,587 450,452 298,554 10,336 26,107 122,902 -7,447 441,434 501.560 314,096 11,215 28,514 137,783 9,952 520,,545 561,,581 356,,306 12,,390 31,,945 148 ,002 12 ,938 622,,868 657,,439 389 ,595 14 ,459 36 ,564 192 ,780 24 ,041 63 64 65 66 67 -18,040 1.586 -19,873 146 101 -6,022 -19,111 -5.675 -16.034 468 130 -81.865 -6.439 -75.933 271 236 -60.126 2.737 -63.242 331 48 -41 ,036 16 ,900 -58 ,514 355 223 -34 ,571 5 ,930 -41 ,701 520 680 3.762 -10,177 261 132 Date are in millions of dollars. 19 25,896 Net foreign investment Net financial investment: Private sectors 66, 455 Households 61, 187 Farm business -9, 977 Nonfarm noncorp. business -1,,377 Nonfinancial corp. bus. 1,,366 Private finan. insts. 15,,256 20 21 22 23 24 25 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 -2 773 1,193 -1,967 -1 Unallocated financial flows Memo: Total gross domestic investment, 720,,192 Flow of Funds basis Private sectors 744,,999 Households 417,,255 Farm business 16,,258 Nonfarm noncorp. business 42 ,935 Nonfinancial corp. busines 239 ,663 Private finan. institution 28 ,888 -24 ,807 3 ,360 -28 ,943 556 220 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 31 56 57 58 59 60 61 62 63 64 65 66 67 October 1988 Tangible Asset Holdings 40 Tangible Asset Holdings Stock-Flow Reconciliations for Tangible Assets Annual Flows Annual Flows 1981 1986 1984 1982 1987 1,134,,775 645,,557 9,,784 76,,422 358,,432 44,,580 656, 250 342, 694 14, 138 46, 594 238, 702 14, 122 755, 387 362, 050 24, 116 71 ,518 281, 684 16, 019 699, 925 354, 980 13, 8 0 5 65, 212 248, 669 17, 259 791, 400 436, 525 4, 146 68, 454 262, 904 19, 371 1,000, 4 0 0 506, 184 20,,102 81, 674 362,,722 29, 718 1,015, 325 548, 8 8 5 7, 361 84, 241 337, 924 36,,914 1,072, 500 608,,550 7, 552 90, 767 ,302 „ 324 , 41,,329 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Private finan. insts. 491, 212 243, 638 17, 591 49, 8 5 0 171, 262 8, 871 550, 352 264, 363 19, 363 57, 359 198, 782 10, 485 598, 553 280, 913 20, 455 63, 767 221, 393 12, 025 622, 974 295, 297 22, 400 64, 181 228, 196 12,,900 652,,188 309, 394 22, 500 67, 383 238,,436 14, 475 691, 797 332, 303 22,,000 70,,502 250,,967 16,,025 736,,468 361, 699 21,,200 72,,636 262,,583 18,,350 785,,300 7 390,,118 8 20,,500 9 78,,688 10 274,,719 11 21,,275 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Private finan. insts. 165, 038 99. 056 - 3 , 453 - 3 , 256 67, 440 5, 251 205, 035 97, 687 4, 753 14, 159 82, 902 5,,534 101,,372 74,,067 — 6,,650 1,,445 27,,276 5,,234 168,,426 141,,228 - 1 8 , 254 4,,273 34,,708 6,,471 348,,212 196,,790 - 2 ,,398 14,,291 124,,286 15,,243 323, 528 216,,582 - 1 4 ,,639 13,,739 86,,957 20,,889 336,,032 246, 851 -13,,648 18,,131 61,,719 22,,979 349,,475 255,,439 -10,,716 -2,,266 83,,713 23,,305 31, 232 27,,392 30,,834 - 2 8 ,,350 - 7 1 ,,844 -104,,164 -133,,397 56,,162 102 ,037 11,,645 2,,266 -43,,290 -16,,496 20 21 22 23 24 25 -182,,910 -1,,940 -179,,503 358 -1,,825 26 27 28 29 30 1 Purchases of physical assets 2 Households 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Private finan. insts. 1 2 3 4 5 6 13 14 15 16 17 18 -151,,010 19 19 Net foreign investment Net financial investment: 20 Private sectors 21 Households 22 Farm business 23 Nonfarm noncorp. business 24 Nonfinancial corp. bus. 25 Private finan. insts. 97,,034 103,,854 3,,920 3,,256 - 2 6 ,,314 12,,318 74,,442 148 088 - 4 ,,530 -14,,159 -39,,330 -15,,627 175,,593 190,,123 7,,147 -1,,445 -9,,220 -11,,012 157,,495 167,,911 18,,832 -4,,273 - 1 9 ,,538 - 5 ,,437 116,,530 174,,584 3,,066 -14,,291 -24,,225 -22,,604 77,,407 105,,841 15,,496 - 1 3 ,,739 - 1 3 ,,912 - 1 6 ,,279 73,,410 96,,349 14,,287 -18,,131 -11,,927 -7,,168 26 27 28 29 30 -68,,856 -6,,026 -63,,340 337 173 -78,,654 -1,,827 -77,,774 498 449 -152,,936 -792 -153,,398 1,,107 147 -186,,619 4,,634 -192,,627 867 507 -172,,497 19,,151 -193,,090 867 575 -194,,313 22,,848 -214,,574 -1,,443 -1,,144 -221,,427 14,,163 -233,,273 -433 -1,,884 3,,054 31,,604 8,,177 774 -15,,877 12,,742 14,,620 611 ,437 188,,930 31,,021 132,,033 208,,599 - 4 3 ,129 7,,725 540,,896 162,,094 11,,553 120,,074 215,,129 -24,,189 7,,857 64 -67 5 36 76 -10 3 ,954 ,382 ,441 ,309 ,705 ,350 ,531 233,,469 113,,532 22,,820 52,,292 33,,297 - 1 0 ,900 628 177 ,248 28 ,590 4,,548 66 ,966 69 ,515 - 5 ,800 1 ,829 109 ,665 27,,353 - 1 ,546 57 ,502 30 ,312 - 1 ,675 - 5 ,631 144,,033 63 ,426 1,,286 32,,889 52 ,317 8 ,350 2 ,465 359 ,320 143 ,677 11,,502 89,,338 94,,788 -18,,025 1.,990 32 33 34 35 36 37 38 109 82 39 -5 -5 ,665 ,539 ,011 ,949 ,936 144 ,033 8 7 ,200 67 ,135 - 1 5 ,969 5 ,667 359,,320 185 ,395 108 ,430 39,,185 26,,310 39 40 41 42 43 31 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 32 Reval. of physical assets 33 Households 34 Farm business •35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Private finan. insts. -24,,262 31 39 Revaluations by type of asset 40 Residential structures 41 Plant and equipment 42 Inventories 43 Consumer durables 611 216 259 72 62 ,437 ,391 ,484 ,804 ,758 540,,896 207,,064 269 ,025 25 ,668 39 ,139 64 ,954 - 5 7 ,624 107 ,589 7 ,021 7 ,968 233 151 56 22 2 ,469 ,829 ,342 ,806 ,492 177 ,248 105 ,264 8 8 ,425 3 ,276 - 1 9 ,717 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 NonfInancial corp. business 49 Private finan. insts. 305 82 69 102 50 ,663 ,159 ,154 ,877 ,710 763 279 124 -11 113 51 53 5 -38 55 31 ,487 ,151 ,978 ,942 ,015 357 169 92 -16 69 24 ,443 ,209 ,868 ,190 ,424 488 5 8 ,647 55 ,905 - 1 1 3 ,056 75 ,592 39 ,010 1 ,196 70 ,183 50 ,237 - 8 7 ,123 75 ,118 30 ,840 1 ,111 194 ,236 121 ,859 - 5 2 ,507 91,,592 31,,959 1,,333 200,,111 102 ,098 10 ,264 61 ,318 24,,728 1,,703 44 45 46 47 48 49 27 1 ,160 106 - 1 ,259 -12 32 11 1 ,242 100 - 1 ,321 6 -16 27 1 ,294 149 - 1 ,389 -13 -14 -5,,544 -4,,586 139 - 1 ,032 -44 -21 -6,,422 -2,,869 144 - 3 ,626 -67 -4 50 51 52 53 54 55 -1 909 1 ,399 - 2 ,308 -1 -2 1 ,030 1 ,570 - 2 ,603 1 13 1 ,113 1 ,680 - 2 ,782 9 -7 lent, Memo: Total gross domestic investment 684 ,428 Flow of Funds basis 758 ,281 Private sectors 446 ,548 Households 18 ,058 Farm business 49 ,850 Nonfarm noncorp. business 217 ,385 Nonfinane iel corp. Dusines 26 ,440 Private finan. institution 751 ,175 8 3 4 ,676 510 ,138 19 ,586 57 ,359 247 ,201 392 722 ,582 8 8 3 ,309 545 ,103 20 ,952 63 ,767 247 ,240 6 ,247 762 ,276 956 .680 604 ,436 22 ,978 64 ,181 251 , 151 13 ,934 944 ,433 1,124 ,832 680 ,768 23 ,168 67 ,383 346 ,399 7 ,114 8 9 8 ,419 1,097 ,108 654 ,726 22 ,857 70 ,502 328 ,388 2 0 ,635 924 ,483 1,153 ,104 704 .899 21 ,839 72 ,636 319 ,569 34 ,161 1,008 .027 1,193 .873 747 .594 21 .429 78 .688 318 ,078 28 .084 56 57 58 59 60 61 62 - 7 3 .853 - 6 ,026 - 6 8 ,337 337 173 - 8 3 ,501 - 1 ,827 - 8 2 ,621 498 449 - 1 6 0 ,727 -792 - 1 6 1 ,189 1 ,107 147 - 1 9 4 ,404 4 ,634 - 2 0 0 ,412 867 507 - 1 8 0 ,399 19 ,151 - 2 0 0 ,992 867 575 - 1 9 8 ,689 2 2 ,848 - 2 1 8 ,950 - 1 ,443 - 1 ,144 - 2 2 8 .621 14 ,163 - 2 4 0 .467 -433 - 1 .884 - 1 8 5 ,846 - 1 ,940 - 1 8 2 ,439 358 - 1 ,825 63 64 65 66 67 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 55 Private finan. insts. 56 57 58 59 60 61 62 63 64 65 66 67 ,171 ,350 ,095 ,136 ,935 845 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Data are in millions of dollars. October 1988 Households Households Sector Stock-Flow Reconciliation Statement ^2, Annual Flows Annual Flows 1948 1949 1950 1951 1952 1953 1954 1955 Households, Personal Trusts, and Nonprofit Organizations 1 41 ,989 40,,038 50,,581 58 ,271 57 ,922 60 ,753 58 ,214 68 ,945 Gross inv..Flow of Funds basis 1 2 16 ,083 17,,853 19 ,848 23 ,139 25 ,582 27 ,777 30 ,763 32 ,353 2 3 25 ,906 22 ,185 30,,733 35 ,132 32 ,340 32 ,976 27 ,451 36 ,592 Net investment flow, Balance Sheet basis 3 4 5 6 167 16 ,250 16,,083 170 18,,023 17,,853 176 20 ,024 19,,848 189 23 ,328 23 ,139 195 25 ,777 25 ,582 198 27 ,975 27 ,777 200 30 ,963 30 ,763 206 32 ,559 32 ,353 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 4 5 6 7 8 9 10 7,,262 27 ,235 16,,250 36,,223 1,,172 21,,203 18,,023 381,054 15, 817 43 ,554 20,,024 47,,761 12 ,846 37 ,017 23 ,328 47 ,499 3 ,106 24 ,108 25 ,777 46 ,779 - 2 ,068 21 ,603 27 ,975 51,,646 -259 20,,773 30 ,963 51,,995 2 ,987 33 ,846 32 ,559 63 ,418 11 12 13 14 7,,262 5,,948 420 894 1,,172 1 ,935 -180 -583 15 ,817 8 ,341 785 6,,691 12 ,846 7 ,055 930 4 ,861 3 ,106 2 ,021 216 869 -2,,068 -632 -170 -1,,266 -259 2,,651 -34 -2,,876 2 ,987 4 ,501 921 -2,,435 15 2 ,958 2,,037 4 ,010 3 .837 2 ,739 2,,540 3,,478 4,,514 16 17 18 - 2 ,089 -1,,113 976 8 ,614 9,,309 695 23,,541 24,,218 677 20 ,804 22 ,630 1 ,826 12 ,683 14 ,136 1 ,453 -9,,057 -8,,015 1,,042 71 ,890 72,,605 715 50,,161 51,,274 1,,113 19 20 21 5 ,299 5 ,299 5 ,576 5 ,576 6,,148 6,,148 6 ,294 6 ,294 7 7 ,663 7 ,656 4 7,,866 7,,862 53 7,,877 7,,824 2,,265 10,,797 8 ,532 22 23 24 6 ,497 10 ,986 4 ,489 374 887 513 26,,460 30, 289 3,,829 19 ,655 20 ,940 1 ,285 3 ,567 3 ,038 -529 2,,622 2,,279 -343 7,,636 5,,411 -2,,225 13,,320 10,,902 -2,,418 • • - + Capital consump. allow.,NIPA Reval. of physical assets 7 Change in value 8 Depreciation charges 9 -Gross purchases, FOF basis 10 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 11 12 13 14 • Change in the value of land holdings 15 • Reval. of corporate equities 16 Change in value 17 -Net purchases 18 • Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 19 20 21 Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 22 23 24 Other revaluations 25 Change In net worth 26 -1 1 26 40 ,367 34,,212 101,,122 92 ,085 54 ,223 26,,819 110,,048 109,,634 27 188 ,150 187,,941 207, 475 227 ,593 239 ,795 255,,105 260,597 278,,771 Memo: 25 - - 737 - -24 - Dlsp. personal income 27 October 1988 Households Households Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 Households, Personal Trusts, and Nonprofit Organizations 1 Gross inv..Flow of Funds basis 74 ,466 76 ,136 75 ,757 80 ,269 82 ,673 83 ,325 90 ,814 97 ,038 1 2 Capital consump. allow.,HIPA 36 ,142 38 ,934 40 ,980 43 ,078 44 ,591 46 ,264 47 ,620 49 ,522 2 = Net investment flow, Balance Sheet basis 38 ,324 37 ,202 34 ,777 37 ,191 38 ,082 37 ,061 43 ,194 47 ,516 3 4 5 6 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 214 36 ,356 36 ,142 218 39 ,152 38 ,934 222 41 ,202 40 ,980 229 43 ,307 43 ,078 236 44 ,827 44 ,591 244 46 ,508 46 ,264 256 47 ,876 47 ,620 270 49 ,792 49 ,522 4 5 6 7 8 9 10 + Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 8 ,344 34 ,435 36 ,356 62 ,447 - 3 ,888 19 ,050 39 ,152 62 ,090 3 ,423 21 ,375 41 ,202 59 ,154 _1 ,147 24 ,940 43 ,307 69 ,394 - 3 ,952 20 ,580 44 ,827 69 ,359 - 1 ,596 18 ,041 46 ,508 66 ,145 - 2 ,888 21 ,717 47 ,876 72 ,481 -6 ,719 7 22 ,506 8 49 ,792 9 79 ,017 10 - 3 ,888 -419 122 -3,.591 3 ,423 1 ,659 -292 2,,056 -1 ,147 -418 -117 -612 - 3 ,952 -1 ,067 -260 - 2 ,625 -1 ,596 -580 304 -1,,320 - 2 ,888 -202 430 - 3 ,116 -6 ,719 -5 ,925 594 -1,,388 - 3 11 12 13 14 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables • Change in the value of land holdings • Reval. of corporate equities Change in value -Net purchases • Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 15 16 17 18 19 20 21 22 23 24 25 • Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. • Other revaluations 26 = Change in net worth 27 Memo: Disp. personal income Data are in millions of dollars. 8 ,344 1 ,439 1 , 124 5 • 781 9,, 173 16,.780 18 .794 , 2,.014 3,.641 -39,.163 -37,. 7C5 1, 458 11 12 13 14 3,.865 4,,190 10,,114 4,.111 3,.816 2,.883 15 104,.177 105,.929 1,.752 28 ,114 28,.680 566 - 6 ,513 -6,.534 -21 104, 282 105, 346 1..064 -62, 281 -63. 711 -1. 430 78,.007 16 76,.420 17 -1. 587 18 5 9,.514 9,.509 •662 8. 826 9, 488 2,.733 13, 111 10. 378 1,.246 13, 115 11,.869 88 11,.636 11,.548 4. 201 16. 284 12, 083 -3. 274 9, 750 13, 024 3, 926 19 17,800 20 13.874 21 19,843 18. 202 -1, 641 13. 640 12. 513 -1, 127 15. 158 15. 233 75 11, 382 7. 905 -3. 477 8,.710 5. 872 -2.838 9, 757 9,808 51 10. 721 10, 779 58 10. 006 22 11. 116 23 1. 110 24 1 1 412 12 255 679 154 25 92. 256 10,552 163, 912 81, 159 46, 305 157, 317 -10,289 135,503 26 297, 542 3l3. 969 324,886 344, 629 358, 928 373, 774 396, 167 415,834 27 - E S S K i S r H.us.hoid, Sector Stock-Flow Reconciliation Statement 4 3 Annual Flows Annual Flows 1964 1965 1966 1967 1968 1969 1970 1971 Households. Personal Trusts, and Nonprofit Organizations 189, 610 Gross inv.,Flow of Funds basis 1 Capital consump. allow.,NIPA 2 109, 701 119, 117 130, 494 141,205 149, 535 147, 948 171, 672 2 51,889 54, 042 56, 961 61, 773 67, 619 75, 325 82, 319 90, 201 3 57,812 65, 075 73, 533 79, 432 81, 916 72, 623 89, 353 99, 409 Net Investment flow. Balance Sheet basis 3 469 82, 788 82, 319 505 90, 706 90, 201 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIRA 4 5 6 1 - = 4 5 6 286 52, 175 51,889 308 54, 350 54, 042 337 57, 298 56, 961 361 62, 134 61, 773 393 68, 012 67, 619 444 75, 769 75, 325 7 8 9 10 3,484 36, 366 52, 175 85, 057 - 3 , 613 34, 358 54, 350 92, 321 17, 797 57, 935 57, 298 97, 436 14, 025 50, 160 62. 134 981 269 43, 437 89, 399 68, 012 113, 974 36, 179 81, 913 75, 769 121,.503 27, 030 63, 647 82, 788 119, 405 43, 790 93, 957 90,,706 140, 873 11 12 13 14 3. 484 7, 040 626 —41,. 182 -3, 613 2,,922 1.,307 -7,,842 17,797 16,470 2,065 -738 14,,025 9,,538 1.,023 3.,464 43.,437 35, 525 3,,832 4,,080 36, 179 28,,461 4,,428 3,,290 27, 030 13,864 4,,368 8,,798 43,,790 41,,857 6,,384 -4,,451 15 5 ,831 4 ,823 20 ,096 5 ,435 13 ,134 12 ,099 7,,459 16 ,594 143 ,397 137 ,176 - 6 ,221 -109 ,551 -111 ,779 - 2 ,228 -16 ,807 -17 ,536 -729 108 ,132 103 ,814 - 4 ,318 16 17 18 50,940 50,625 -315 72 ,393 70 ,766 - 1 ,627 -59 ,999 -60 ,133 -134 147 ,814 144 ,521 - 3 ,293 19 20 21 4 ,064 20 ,445 16 ,381 4 ,103 21 ,089 16 ,986 5 ,000 14 ,327 19 ,327 8 ,396 27 ,150 18 ,754 6 ,590 26 ,532 19 ,942 - 6 ,084 15 ,753 21 ,837 2 ,201 26 ,390 24 ,189 15 ,451 43 ,428 27 ,977 22 23 24 16 ,462 15 ,656 -806 20 ,924 21 ,183 259 27 ,878 27 ,473 -405 17 ,844 16 ,764 - 1 ,080 32 ,735 29 ,768 - 2 ,967 30 ,487 24 ,432 — 6 ,055 22 ,924 18 ,516 - 4 ,408 45 ,282 43 ,082 - 2 ,200 25 834 -19 10 128 -145 956 - 1 ,517 26 27 139 ,141 451 ,413 73 ,978 163 ,378 486 ,808 525 .910 Data are in Millions of dollars. 272 ,713 562 ,092 320 ,671 609 ,582 36 ,265 656 ,687 " 7 Reval. of physical assets 8 Change in value 9 Depreciation charges -Gross purchases, FOF basis 10 • Revaluation by type of asset Residential structures Nonres. plant & equipment Consumer durables 11 12 13 14 Change in the value of land holdings 15 Reval. of corporate equities 16 17 Change in value 18 -Net purchases Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 19 20 21 * Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 22 23 24 - 2 ,391 + Other revaluations 25 130 ,174 325 ,762 = Change in net worth 26 715 ,595 776 ,784 Memo: Disp. personal income 27 ZltllZlZ*8 4 4 Houstholds Sector Stock-Flow Reconciliation Statement Annual Annual Flows 1972 1975 1974 1975 1976 1977 1978 Flows 1979 Households, Personal Trusts, and Nonprofit Organizations 417,255 1 97, 377 106, 567 120,828 137, 106 151,,657 169,,015 190,,344 215,,204 2 119, 057 156, 789 122, 165 161, 448 162,,439 187, 291 199,,251 202,,051 3 644 190,,988 190,,344 773 215,,977 215,,204 4 5 6 242,993 1 Gross inv.,Flow of Funds basis 2 - Capital consump. allow.,NIPA 3 Net investment flow, Balance Sheet basis 4 - Depreciation valuation adj. 5 Depreciation charges 6 -Cap. consump. allow., NIPA 548 97, 925 97, 377 618 107, 185 106, 567 368 121, 196 120, 828 423 137,,529 137,,106 473 152,,130 151,,657 548 169,,563 ,015 169, 7 • Reval. of physical assets 8 Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 47,,731 113,,976 97,,925 164,,170 86, 209 162,,420 107,,185 183,,396 145,,218 204, 418 121,,196 180,,396 78,,199 134,,546 137,,529 193,,876 110,,877 196,,264 152,,130 237,,517 164,,050 278,,712 169,,563 284,,225 220,,464 357,,179 190,,988 327,,703 184,,774 7 324,,865 8 215,,977 9 356,,068 10 47,,731 46,,296 5,,274 -3,,839 86,,209 74, 411 7,,190 4,,608 145, 218 86, 493 14,,945 43,,780 78,,199 50,,934 4,,126 23,,139 110,,877 89,,335 7,,397 14,,145 164,,050 134,,076 10,,536 19,,438 220,,464 159,,383 24,,899 36,,182 184,,774 126,,907 7,,029 50,,838 11 12 13 14 Revaluation by type of asset Residential structures Nonres. plant & equipment Consumer durables • Change in the value of land holdings 11 12 13 14 19 ,694 35,,934 31,,762 18,,866 57,,437 82,,172 105,,596 103,,709 15 96 ,207 87 ,403 - 8 ,804 -206,,854 -211,,113 -4,,259 -213,,476 -215,,580 -2,,104 151 ,874 145 ,684 - 6 ,190 117 ,447 116 ,955 -492 -38 ,146 -45,,491 -7,,345 8,,652 -3,,872 -12,,524 177,,474 16 152,,001 17 -25,,473 18 11 ,841 60 ,292 48 ,451 -25 ,868 14 ,018 39 ,886 -29,,243 14,,466 43 ,709 34 ,895 106 ,816 71 ,921 15 ,572 72 ,214 56 ,642 -16,,185 62,,375 78 ,560 17 ,354 112 ,376 95 ,022 14,,423 19 116,,257 20 101,,834 21 22 • Reval. of noncorp. equity 23 Change in value 24 -Net inv. in noncorp. bus. 73 ,061 64 ,399 - 8 ,662 122 ,264 133 ,489 11 ,225 120 ,825 90 ,565 -30 ,260 102 ,728 83 ,421 -19 ,307 155 ,858 130 ,092 -25 ,766 176 ,957 156 ,731 - 2 0 ,226 278 ,422 246 ,495 -31 ,927 327,,233 22 262,,012 23 -65 ,221 24 25 • Other revaluations -1 ,293 - 6 ,080 3 ,477 2 ,834 -111 354 5 ,548 5 ,545 25 550 ,421 619 ,046 555 ,945 834 ,643 1.014 ,436 26 1,142 ,782 1,252 ,645 1,379 ,341 1,551 ,229 1,729 ,321 27 15 16 + Reval. of corporate equities 17 Change in value 18 -Net purchases 19 20 21 • Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 * Change in net worth 365 ,750 161 ,776 180 ,360 27 Memo: 839 ,596 949 ,769 1.038 ,372 Disp. personal income Data are In millions of dollars. October 1988 Households Households Sector Stock-Flow Reconciliation Statement 4-5 Annual Flows 1980 Annual Flows 1981 1982 1983 1984 1985 1986 1987 Households# Personal Trusts, and Nonprofit Organizations 1 446,,548 510, 138 545,,103 604,• 436 680, 768 654,• 726 704,,899 747,,594 Gross inv..Flow of Funds basis 1 2 243,,638 264, 363 280,,913 295,• 297 309, 394 332,• 303 361,,699 390,,118 Capital consump. allow.,NIPA 2 3 202,,910 245, 775 264,,190 309 • 139 371, 374 322,• 423 343,,200 357,,476 4 5 6 909 244,,547 243,,638 1,,030 265, 393 264, 363 1,,113 282,,026 280,,913 1 • 160 296 • 457 295 • 297 1, 242 310, 636 309,,394 1,• 294 333,,597 332,• 303 -4,,586 357,,113 361,,699 -2,,869 387,,249 390,,118 - Depreciation valuation add. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 10 188,,930 287,,077 244,,547 342,,694 162, 094 258,,751 265, 393 362,-050 -67,,382 5,,572 282,,026 354,,980 1131• 532 253 • 600 296 ,457 436 ,525 28,,590 224,,138 310,>636 506,,184 27,• 353 242,,641 333,,597 548 • 885 63,,426 314,,863 357,,113 608,,550 143,,677 401,,985 387,,249 645,,557 • Reval. of physical assets 7 Change in value 8 Depreciation charges 9 -Gross purchases, FOF basis 10 11 12 13 14 188,,930 108,,864 17,• 308 62,758 162,,094 105,,579 17,,376 39,,139 - 6 7 382 - 7 8 • 854 3 • 504 7 • 968 113 ,532 98 ,394 12 ,646 2 ,492 28,,590 38,,604 9,,703 -19,,717 27 • 353 27,,798 5 • 491 - 5 • 936 15 82 ,159 124,,350 5 ,151 92 ,209 55,,905 50,• 237 16 17 18 316 ,301 306 ,431 - 9 ,870 -22,,720 -59,,321 -36,,601 147 ,990 136 ,078 -11 ,912 179 ,908 181 ,001 1 ,093 71,,342 19,• 686 -51,• 656 482 • 451 447 • 480 - 3 4 • 971 293,,023 319,,152 26,• 129 -80,,820 -100,,639 -19,,819 19 20 21 40 ,225 158 ,728 118 ,503 -27,,833 90,,078 117,,911 41 ,403 189 ,450 148 ,047 61 ,682 220 ,855 159 ,173 -12,,555 145,• 102 157,• 657 94,• 790 280,• 356 185,• 566 80,,912 273,,565 192,• 653 40,,265 230,,163 189,,898 22 23 24 330 ,108 253 ,252 -76 ,856 271 ,455 223 ,095 - 4 8 ,360 62 ,282 -29 ,100 -91 ,382 129 ,291 49 ,657 - 7 9 ,634 42,• 000 -44,• 518 - 8 6 • 518 50,,050 -39,,111 -89 ,161 78 • 551 2,• 374 -76,• 177 177,• 089 + Reval. of noncorp. equity Change in value 79,• 317 -Net inv. in noncorp. bus. -97,• 772 63,,426 51,,112 6,,647 5,• 667 121,,859 - ,Net Investment flow, Balance Sheet basis 3 4 5 6 Revaluation by type of asset Residential structures Nonres. plant & equipment Consumer durables 11 12 13 14 • Change in the value of land holdings 15 + Reval. of corporate equities 16 Change in value 17 -Net purchases 18 • Reval. of life Insurance 8 pension fund reserves Change in value -Net acquisitions 143,,677 106,,519 10,,848 26,• 310 102,,098 19 20 21 22 23 24 25 1 ,468 - 4 ,337 8 ,408 3 ,638 -4,,374 - 2 • 259 38,• 101 + Other revaluations 25 26 1 »161 ,192 747 ,754 460 ,929 888 ,239 559,• 275 1 ,021,,636 983,• 298 780,• 755 = Change in net worth 26 27 1 ,917 ,973 2,127 ,584 2,261 ,425 2,428 ,100 2,668 • 600 2 ,838 ,700 3,019,• 675 Data are in millions of dollars. 3 •861 3,209,• 675 Memo* Disp. personal income 27 October 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1952 Farm Business 1 Gross inv.,Flow of Funds basis 2 3 1 ,858 2 ,092 2 ,338 2 ,670 2,894 3 ,031 3 ,179 3 ,267 1 Proprietors' net investment 3 ,277 560 1 ,663 1 ,644 -271 -1,,292 - 1 ,637 - 2 ,431 2 Capital consump.allow.» NIPA 3 1 ,817 2 ,069 2 ,305 2 ,671 2,925 3,,082 3 ,192 3 ,300 = Net investment flow. 4 Balance Sheet basis 3 ,318 583 1 ,696 1 ,643 -302 -1,,343 -1 ,650 - 2 ,464 4 5 6 7 - Depreciation valuation add. Depreciation charges -Cap. consump. allow., NIPA 74 1 ,891 1 ,817 81 2,,150 2,,069 87 2 ,392 2 ,305 98 2 ,769 2 ,671 105 3,030 2,925 112 3,,194 3,,082 118 3 ,310 3 ,192 125 3 ,425 3 ,300 5 6 7 8 9 10 11 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis - 2 ,192 1 ,959 1 ,891 6 ,042 -1,,651 -139 2.,150 3,,662 6 ,514 9 ,431 2,,392 5 ,309 2 ,795 5 ,804 2,,769 5 ,778 -565 -24 3,030 3,571 1,,087 -662 3,.194 li 445 564 -304 3 ,310 2 ,442 1 ,211 8 137 9 3,,425 10 2,,351 11 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories -2,,192 629 645 -3,,466 -1,,651 187 -64 -1, 774 6,,514 780 756 4,,978 2,,795 614 911 1,,270 -565 29 1,929 -2,523 1, 087 •197 1, 968 684 564 24 1,,831 -1,,291 802 -1, 799 11,,914 7,,859 481 - 1 , 386 3,,225 - 12 13 14 15 • 16 17 • 18 Change in the value of land holdings Other revaluations Change in net worth - 1,,854 - -2, 948 - 20, 037 - 12, 199 - - -491 - 1,,211 219 2, 507 -1,,515 12 13 14 15 4, 562 16 - 17 - 1 , 754 2, 021 3, 184 18 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 4 ,454 4 ,716 4 ,999 5 ,695 6,009 6 ,255 6 ,462 6 ,778 1 2 Proprietors' net investment 1 ,212 -47 2 ,166 -359 -258 949 -588 13 2 4 ,716 4 ,999 5 ,695 6,009 6 ,255 6 ,462 6 ,778 3 3 Capital consump.allow., NIPA 4 ,454 « Net investment flow, Balance Sheet basis 1 ,212 -47 2 ,166 -359 -258 949 -588 13 4 5 6 7 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -241 4 ,213 4 ,454 -252 4 ,464 4 ,716 -262 4 ,737 4 ,999 289 5 ,406 5 ,695 -301 5,708 6,009 -311 5 ,944 6 ,255 -320 6 ,142 6 ,462 -331 6 ,447 6.,778 5 6 7 8 9 10 11 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 5 ,455 7 ,971 4 ,213 6 ,729 1 ,416 1 ,498 4 ,464 4 ,546 6 ,380 10 ,001 4,,737 8 ,358 6 ,807 7 ,481 5 ,406 6 ,080 1,110 1,862 5,708 6,460 185 2 ,083 5,,944 7 ,842 788 2 ,458 6 ,142 7 ,812 4.,253 8 7,,332 9 6 ,447 10 9,,526 11 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 5,,455 3,,500 1.,241 714 1,,416 1,,564 330 -478 6 ,380 3 ,316 1 ,812 1.,252 6 ,807 4 ,478 2,,081 248 1,110 2,276 -918 -248 185 1,,702 -1,,757 240 788 2,,135 -1,,447 100 Change in the value of land holdings 2,,436 2,,007 2,,847 2,,858 2,341 2, 467 3,,010 1 -2 1 -1 17 3,495 3, 910 3,,531 7, 941 18 - 4 12 13 14 15 • 16 17 • Other revaluations 18 * Change in net worth Data are In millions of dollars. -82 9.,262 - 3,,628 - 11,,655 - 9.,595 4,,253 3, 665 268 320 12 13 14 15 3, 345 16 October 1988 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 Farm Business 1 3, 442 3, 548 3,627 3, 695 3,,705 3,,705 3,,761 3,,690 2 -1, 183 -2, 365 -939 -2, 939 -1.,683 -1,,608 -1,,763 - 2 ,505 3 3,,485 3, 599 3,659 3,,732 3,,740 3.,734 3 ,762 3 ,807 4 -1.,226 -2,,416 -971 -2,,976 -1,,718 -1,,637 -1,,764 -2,,622 203 - Depreciation valuation adj. Depreciation charges 4 ,010 -Cap. consump. allow., NIPA 3 ,807 = Net investment flow, Balance Sheet basis 4 5 6 7 139 3,,624 3,,485 147 3,,746 3,,599 157 3,816 3,659 168 3,,900 3,,732 176 3 ,916 3,,740 183 3,,917 3,,734 192 3 ,954 3 ,762 ,532 1,,212 3 ,624 3 ,304 2,,858 1,,620 3,,746 2,,508 1,413 1,723 3,816 4,126 252 65 3,,900 3,,713 1 ,524 1 ,156 3 ,916 3 ,548 1,,027 821 3,,917 3,,711 1 ,884 2 ,098 3 ,954 4 ,168 8 710 • Reval. of physical assets Change in value 9 1 ,337 Depreciation charges 10 4 ,010 -Gross purchases, FOF basis 11 4 ,637 12 13 14 15 1 ,532 -9 1 ,085 456 2 ,858 -255 2 ,431 682 1,413 -243 1,081 575 252 -153 919 -514 1 ,524 -157 878 803 1,,027 -176 1,,039 164 1 ,884 -142 1 ,246 780 710 -348 1 ,187 -129 16 6 ,926 6 ,473 8,955 6 ,546 1 ,520 5 ,651 4 ,272 7 ,889 5 6 7 8 9 10 11 17 18 a* 11 - 7 ,093 - 6 ,768 - - 9,240 - 3 ,654 1 ,150 - - Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings • Other revaluations " 4 ,858 4 ,200 5 ,774 = Change in net worth Nonfarm Noncorporate Business 1 7, 355 7, 784 7,986 8,226 8 ,469 8, 635 8,,864 9,,155 Gross Inv.,Flow of Funds basis 2 -458 1,,238 1,014 -538 -1,,155 1,,659 1,,821 3,,615 + Proprietors' net investment 3 7, 355 7,,784 7,986 8,226 8 ,469 8,,635 8 ,864 9,,155 - Capital consump.allow., NIPA - Net investment flow, Balance Sheet basis 4 -458 1,,238 1,014 -538 -1,,155 1,,659 1,,821 3,,615 5 6 7 352 7,,003 7,,355 -369 7,,415 7,,784 -380 7,606 7,986 -396 7,830 8,226 -413 8 ,056 8 ,469 -430 8,,205 8,,635 -448 8 ,416 8 ,864 -475 8 ,680 9,,155 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 11 6,,419 6.,599 7,,003 7,,183 1,,459 3 ,593 7 ,415 9 ,549 1,740 2,863 7,606 8,729 1,056 4,116 7,830 10,890 649 2 ,679 8 ,056 10 ,086 -461 3,,001 8,,205 11,,667 1 ,091 5 ,949 8 ,416 13 ,274 -1,,853 4,,799 8 ,680 15,,332 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 12 13 14 15 6 ,419 3 ,216 2,,659 544 1 ,459 1 ,835 -637 261 1,740 1,699 -365 406 1,056 1,906 -295 -555 649 1 ,890 803 -438 -461 1 ,492 -359 -1,,594 1 ,091 1 ,005 -120 206 - 1 ,853 -954 252 - 1 ,151 16 5 ,293 3 ,154 3,505 3,590 4 ,895 3 ,663 3 ,514 3 ,507 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • 17 18 - 11 ,606 -2 1 3 6 ,218 6,640 4,507 Data are in millions of dollars. - 4 ,802 - 5 ,291 -1 6 ,873 2 • Change in the value of land holdings Other revaluations 5 ,746 = Change in net worth 12 13 14 15 16 17 18 Farm 8 Noncorporate Business October 1988 Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements 48 Annual Flows Annual Flows 1971 1967 1966 Farm Business 1 Gross inv.,Flow of Funds basis 2 • Proprietors' net investment 3 - Capital consump.allow., NIPA = Net investment flow, Balance Sheet basis 4 4, 092 3.883 4,370 4,593 4,895 5,312 5. 639 5,957 1 242 -653 107 -978 2 5, 631 5,942 3 -2.295 - 1 , 201 —1,866 -287 3.893 4, 046 4,288 4,552 4.852 5,251 -2.305 - 1 ,,155 -1.784 -246 285 -592 115 -963 4 373 6,315 5.942 5 6 7 5 - Depreciation valuation adj. 6 Depreciation charges 7 - C a p . consump. allow., NIPA 212 4,105 3,893 227 4 ,273 4.,046 245 4.533 4.288 265 4,817 4,552 288 5.140 4,852 320 5,571 5,251 349 5.,980 5.,631 8 + Reval. of physical assets 9 Change in value Depreciation charges 10 -Gross purchases, FOF basis 11 475 355 4,105 3,985 3 ,571 5 ,756 4 ,273 6 ,458 1,660 3,024 4,533 5,897 1,272 3,501 4,817 7,046 4.780 5.991 5.140 6.351 6,579 7,788 5,571 6,780 2,,123 3,,530 5 ,980 7 ,387 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 475 256 602 -383 3 ,571 58 1 ,055 2 ,458 1,660 775 1,402 -517 1,272 440 989 -157 4,780 1.526 2.179 1.075 6.579 1.353 2.625 2.601 2 ,123 744 2 ,085 -706 2.910 3 ,806 12 13 14 15 16 • Change in the value of land holdings - 17 • Other revaluations 7,731 18 = Change in net worth 10,290 11.060 8.577 7.404 8 10.230 9 6.315 10 9.141 11 7.404 1.666 2,836 2.902 12 13 14 15 11,953 16 -358 728 17 5 ,337 18.749 18 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 9,569 10,101 10.850 11.614 12,583 13.831 14,971 16,426 1 -793 -3,209 -5.402 -4,515 -1,222 2 3 2 • Proprietors' net investment 1,489 1,460 1.461 9,569 10,101 10.850 11,614 12.583 13,831 14,971 16,426 3 - Capital consump.allow., NIPA 1.489 1. 460 1,461 -793 - 3 , 209 -5,402 - 4 , 515 -1,222 -765 13,066 13,831 •817 14,,154 14,,971 -880 15.546 16.426 ,149 ,872 ,899 ,622 15,473 25,308 13,066 22,901 11 ,310 20 ,851 14 ,154 23 ,695 19.682 34,305 15,546 30,169 17 ,149 12 ,398 4 ,604 147 15.473 10,749 4,927 -203 11 ,310 5 ,207 5 ,665 438 19,682 11,018 6,852 1,812 5.626 4,058 -7 1,883 - 6 0 7 17 13,553 25.645 18 4 x Net investment flow, Balance Sheet basis 5 - Depreciation valuation adj. 6 Depreciation charges 7 - C a p . consump. allow., NIPA -499 9.070 9.569 537 9.,564 10,,101 -583 10,267 10,850 -629 10,985 11,614 -684 11,,899 12,,583 8 + Reval. of physical assets 9 Change in value 10 Depreciation charges 11 - G r o s s purchases, FOF basis 3.310 10.166 9,070 15,926 3 ,294 11 ,081 9 ,564 17 ,351 9,806 15,793 10,267 16,254 5,098 11,356 10,985 17,243 17 23 11 18 3,310 3,007 993 -690 3 ,294 1 ,638 1 ,682 -26 9,806 6,729 2,961 116 5,098 3,741 2,234 -877 4,218 3,968 8,443 2,252 12 13 14 15 16 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • Change in the value of land holdings 17 + Other revaluations 18 = Change in net worth Data are in millions of dollars. 1 9,517 -1 9,258 -9 20,284 8 7,194 19.482 16.455 6,912 16 October 1988 Farm & Noncorporate Business Farm & Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1972 1973 1974 1975 1976 1977 1978 1979 Farm Business 1 6.,777 7.,827 8 ,530 10,,336 11,,215 12 ,390 14 ,459 2 -2,,365 -1.,837 —41,871 -1,,700 -7,,028 - 6 , 129 - 9 ,393 -12,,621 • Proprietors' net investment 3 6.,605 7.,228 8,,308 9 ,789 10,,771 12 ,099 13 ,557 15,,343 - Capital consump.allow., NIPA 16 ,258 Gross lnv.,Flow of Funds basis * 4 -2,,193 -1.,238 - 4 ,649 -1,,153 —6,,584 -5,,838 - 8 ,491 -11,,706 5 6 7 421 7,,026 6.,605 467 7,,695 7.,228 549 8,,857 8,,308 672 10,,461 9 ,789 768 11,,539 10.,771 891 12 ,990 12,,099 1 ,027 14 ,584 13 ,557 1 ,193 16,,536 15,,343 8 9 10 11 13.,693 15.,943 7,,026 9.,276 24.,697 31.,084 7 ,695 14.,082 14 ,828 17 ,182 8 ,857 11 ,211 5 ,662 12,,105 10,,461 16,,904 7,,692 9 ,723 11,,539 13,,570 10 ,969 17 ,067 12 ,990 19,,088 33 ,290 39 ,576 14 ,584 20 ,870 18,,034 27,,733 16,,536 26.,235 12 13 14 15 13.,693 li,698 3,,957 8 ,038 24 ,697 2,,791 4,,113 17,,793 14 ,828 3 ,496 12 ,820 - 1 ,488 5,,662 2 ,021 5.,141 -1.,500 7 ,692 3 ,210 7,,035 -2,,553 10 ,969 4,,600 8,,350 -1,,981 33 ,290 5 ,546 15 ,474 12,,270 18,,034 5.,363 10,,716 1.,955 16 24,,499 53 ,885 29 ,635 46,,702 71,,245 45 ,516 81 ,149 101.,700 17 8 215 14 -11 -37 18 35.,586 77 ,092 39 ,279 50,,528 71.,548 - 49,,756 - 104,,921 -21 106. 814 Net investment flow, Balance Sheet basis Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings • Other revaluations Change In net worth Nonfarm Noncorporate Business 1 17,,989 19.,965 22 ,677 26.,107 28 ,514 31 ,945 36 ,564 42,,935 2 -6,,297 12.,112 -26,,145 -18.,036 - 1 8 ,546 - 1 3 ,865 - 2 2 ,796 - 5 3 ,321 3 17,,989 19,,965 22,,677 26.,107 28 ,514 31,,945 36 .564 42.,935 4 - 6 ,297 12.,112 -26,,145 -.18,,036 -18,,546 - 1 3 ,865 -22,,796 -53.,321 5 6 7 -967 17,,022 17,,989 -1,,087 18,,878 19.,965 -918 21 ,759 22 ,677 -1.,093 25.,014 26.,107 -1,,243 27,,271 28 ,514 - 1 ,440 30 ,505 31 ,945 -1 ,673 34 ,891 36 ,564 -1,,967 40.,968 42 ,935 8 9 10 11 17.,880 39.,997 17,,022 39,,139 30,,604 54.,218 18.,878 42 ,492 53 ,028 64 ,200 21 ,759 32 ,931 29.,771 30.,366 25.,014 25.,609 46 ,907 46,,986 27,,271 27,,350 65 ,559 74 ,336 30 ,505 39 ,282 96 ,813 109 ,288 34 ,891 47 ,366 122.,083 125.,427 40,,968 44.,312 Reval. of physical assets 8 Change in value 9 Depreciation charges 10 -Gross purchases, FOF basis 11 12 13 14 15 17 ,880 11 ,512 5 ,525 843 30,,604 20,,633 9,,101 870 53 ,028 27 ,683 24 ,479 866 29.,771 21,,928 10,,787 -2,,944 46,,907 34 ,328 12 ,000 579 65 ,559 50 ,760 16 ,205 - 1 ,406 96 ,813 66 ,515 30 ,478 -180 122.,083 98,,859 19,,191 4.,033 Revaluation by type of asset 12 Residential structures Nonres. plant 8 equipment Inventories 16 18 ,766 25,,841 26 ,233 23.,638 33,,957 57 ,013 73,,228 91.,947 17 -12 -7,,850 1 -36 -8 311 18 31 ,304 61,,794 54 ,035 36.,430 63,,553 110 ,458 Data are In millions of dollars. - 148 ,918 Net Investment flow, Balance Sheet basis Depreciation charges -Cap. consump. allow., NIPA • Change in the value of land holdings 16 -1 17 162.,675 18 October 1988 Farm & Noncorporate Business 50 Farm 8 Noncorporate Business Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1980 1981 1982 1985 1984 1985 1986 1987 Farm Business 1 Gross inv.,Flow of Funds basis Proprietors' net investment 2 3 4 - s Net investment flow. • 12 13 14 15 • 16 18 = 20,,952 22 ,978 23 ,168 22 ,857 21 ,839 21 ,429 1 - 1 2 ,400 -20 ,734 - 1 ,308 1 ,937 5 ,021 1 ,382 2 17 ,591 19 ,363 20 ,455 22 ,400 22 ,500 22 ,000 21 ,200 20 ,500 3 - 1 8 ,261 -10 ,574 -11 ,903 - 2 0 ,156 640 2 ,794 5 ,660 2 ,311 4 1 ,399 18 ,990 17 ,591 1 ,570 20 ,933 19 ,363 1 ,680 22 ,135 20,,455 106 22 ,506 22 ,400 100 22 ,600 22 ,500 149 22 ,149 22 ,000 139 21 ,339 21 ,200 144 20 ,644 20 ,500 5 6 7 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 31 ,021 26 ,169 18 ,990 14 ,138 11 ,553 14 ,736 20 ,933 24,,116 5 ,441 -2,,889 22,,135 13,,805 22 ,820 4 ,460 22 ,506 4 ,146 4 ,548 2 ,050 22 ,600 20 ,102 -1 ,546 -16 ,334 22 ,149 7 ,361 1 ,286 - 1 2 ,501 21 ,339 7 ,552 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 31 ,021 4 ,846 16 ,447 9 ,728 11 ,553 4 ,549 15,,702 - 8 ,698 5,,441 -540 6,,837 -856 22 ,820 3 ,156 12 ,072 7 ,592 4 ,548 2 ,206 7 ,997 -5,,655 - 1 ,546 1 ,404 3 ,107 - 6 ,057 1 ,286 1 ,539 3 ,169 - 3 ,422 Change in the value of land holdings 69 ,154 -11,,095 -38,,978 -16 ,868 -113 ,056 - 8 7 ,123 - 5 2 ,507 Other revaluations 17 19 ,586 - 1 0 ,797 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA Balance Sheet basis 5 6 7 8 9 10 11 Capital consump.allow., NIPA 18 ,058 - 1 8 ,728 Change in net worth - 80 ,515 -4,,071 1 -15,,757 -47,,119 - -14,,310 62 -109,,186 - -86,,024 11 ,502 8 642 9 20 ,644 10 9 ,784 11 11 ,502 2 ,988 4 ,418 4 ,096 12 13 14 15 10 ,264 16 570 515 17 -45,,130 24 ,448 18 Nonfarm Noncorporate Business 1 Gross inv.,Flow of Funds basis 2 • 3 - Proprietors' net investment Capital consump.allow., NIPA 49,,850 57,,359 63,,767 64,,181 67,,383 70 ,502 72,,636 78,,688 1 - 5 8 ,844 -38,,064 -80,,310 -59,,774 -86,,850 -93,,118 -84,,828 -97,,700 2 49 ,850 57,,359 63,,767 64,,181 67,,383 70,,502 72,,636 78,,688 3 4 Net investment flow, Balance Sheet basis -58,,844 -38,-064 -80,,310 -59,,774 -86,,850 -93,,118 -84,,828 -97,,700 4 5 6 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -2,,308 47,,542 49 ,850 -2,,603 54,,756 57,,359 -2,,782 60,,985 63,,767 -1,,259 62,,922 64,,181 -1,,321 66,,062 67,,383 -1,,389 69,,113 70,,502 -1,,032 71,,604 72,,636 -3, 626 75, 062 78, 688 5 6 7 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 132,,033 131,,085 47,,542 46,,594 120,,074 136,,836 54,,756 71,,518 36,,309 40, 536 60,,985 65, 212 52,,292 57,,824 62,,922 68,,454 66,,966 82,,578 66,,062 81,,674 57,,502 72,,630 69,,113 84,,241 32,,889 52,,052 71,,604 90,,767 89, 338 8 90, 698 9 75, 062 10 76, 422 11 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 132,,033 98,,270 31,,524 2,,239 120,,074 92,,224 34, 925 -7,,075 36, 309 22, 788 11, 972 1, 549 52,,292 48,,284 3,,361 647 66,,966 62,,551 10,,525 -6,,110 57,,502 51,,117 12,,250 -5,,865 32,,889 33,,045 9,,136 -9,,292 89, 338 73, 492 16,882 -1, 036 • Change in the value of land holdings 102,,877 113, 136 55, 942 69,,190 75,,592 75,,118 91, 592 61, 318 16 + Other revaluations -1 40,,000 -2 -2 -4 178,,373 237,,749 14, 721 62,,965 57, 025 8 9 10 11 + 12 13 14 15 16 17 18 = Change in net worth Data are in millions of dollars. - 40,,891 12 13 14 15 3, 660 - 1 17 44, 345 56, 581 18 October 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1948 1949 1950 1951 1952 1953 1954 1955 Nonfinancial Corporate Business, Excluding Farms 25,,631 Gross inv.,Flow of Funds basis 1 15,826 17,,959 16, 346 21,,827 22,,219 22,,304 22,,725 2 3 1, 000 1,,212 1, 288 2,,107 2,,320 1.,766 1,,583 4 5 10, 424 - 2 i152 11,,204 1,,856 12, 023 -4, 965 13,,833 -1,,199 14,,840 1,,000 15,,852 -1,,000 16,,765 -300 17,,785 -1,,750 6 8, 554 6,,111 10,,576 11,,300 8,,699 9,,218 7,,843 11,,315 13,,833 13,,833 2 14,,842 14,,840 2 15,,854 15,,852 -1 16,,764 16,,765 - - - - - - - 1 Corporate equity issues Min. rights from U.S. govt. 2 3 Capital consump.allow., NIPA Inventory valuation adj. 4 5 = Net investment flow, Balance Sheet basis 6 -1 17,,784 17,,785 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 + Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 10 11 12 13 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 14 15 16 17 1,,719 - • - 7 8 9 10, 424 10, 424 11,,204 11,,204 -1 12,,022 12,,023 10 11 12 13 7, 765 20,,145 10, 424 22,,804 1,,893 3,,735 11,,204 13,,046 9,,508 26,,478 12,,022 28,,992 8,,975 26,,895 13,,833 31,,753 3,,465 13,,039 14 ,842 24,,416 1,,641 13,,022 15 ,854 27,,235 1,,231 8 ,031 16,,764 23 ,564 10,,438 26,,953 17,,784 34,,299 14 15 16 17 7,>765 -124 61,752 1,,137 1,,893 10 2 ,738 -855 9,,508 -828 9,,292 1,,044 8,,975 116 9,,129 -270 3,,465 -361 3 ,947 -121 1 ,641 -105 1,,669 77 1 ,231 -554 1 ,589 196 10,,438 -234 9,,651 1,,021 18 2,,454 1,,943 2,,933 3,,386 2 ,999 3 ,987 5,,306 4,,642 19 20 21 538 1,>259 721 415 1,,075 660 467 1,,088 621 683 1,,191 508 890 1,,742 852 797 1 ,532 735 711 1 ,378 667 22 23 24 150 184 34 98 154 56 370 450 80 177 267 90 155 287 132 148 306 158 25 -1 - - - -2 -299 26 19 ,160 10 ,264 23,,115 24 ,167 15,,894 15 ,194 27 8 ,554 6 ,111 10 ,576 11 ,300 8 ,699 9 ,218 7 ,843 28 29 30 31 -956 15 ,300 6 ,548 22 ,804 -395 5 ,316 7 ,335 13 ,046 -1,,390 19,,486 8 ,116 28 ,992 -686 22 ,061 9 ,006 31 ,753 -78$ 13 ,645 9 ,988 24 ,416 -915 15 ,304 11 ,016 27 ,235 - 1 ,406 10 ,033 12 ,125 23 ,564 -1 ,908 19 ,209 13 ,182 34 ,299 32 244 194 294 321 -261 552 345 655 33 34 35 - 3 ,876 6 ,548 10 ,424 - 3 ,869 7 ,335 11 ,204 - 3 ,907 8 ,116 12 ,023 - 4 ,827 9 ,006 13 ,833 - 4 ,852 9 ,988 14 ,840 —4 ,836 11 ,016 15 ,852 —4 ,640 12 ,125 16 ,765 - 4 ,603 13 ,182 17 ,785 36 538 415 467 683 890 797 711 941 Reval. of fgn. dir. invest. 36 155 148 258 246 Reval. of dir. inv. in U.S. 37 -2 -299 - 100 Other revaluations 38 13 ,240 14 ,041 + Change in the value of land holdings 18 941 1,,764 823 + Reval. of fgn. dir. invest. Change in value -Direct investment 19 20 21 258 382 124 246 443 197 - Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 - 100 + Other revaluations 25 14 ,834 27,,191 8 Change in net worth 26 Tangibles and net worth on historical cost basis: 37 38 39 150 -1 12 ,105 98 - 10 ,096 370 - 13 ,484 177 - 16 ,268 11 ,875 11,,315 = Net investment flow Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 28 29 30 31 • Change in the value of land holdings 32 - Depreciation valuation adj. 33 34 Depreciation charges -Cap. consump. allow., NIPA 35 - 15 ,460 = Change in net worth CI) Before inventory valuation adjustment. Data are in millions of dollars. 27 • 39 October 1988 Nonfinancial Corporate Business Nonfinancial Corporate Business 5 2 Sector Stock-Flow Reconciliation Statement Annual Flows Annual Flows 1956 1960 Nonfinancial Corporate Business, Excluding Farms 1 Gross inv.,Flow of Funds basis 2 3 • - Corporate equity issues Min. rights from U.S. govt. 26 ,050 28 ,401 27 ,027 31 ,930 29 ,413 31 ,817 38 ,835 38 ,710 1 2 ,250 2 ,441 1 ,968 2 ,078 1 ,365 2 ,121 369 -341 2 3 - - - - - - - - Capital consump.allow., NIPA Inventory valuation adj. 20 ,032 - 2 ,675 22 ,048 -1 ,525 23 ,059 -250 24 ,135 -277 25 ,134 -173 25 ,882 271 26 ,827 26 28 ,002 54 % Net investment flow, Balance Sheet basis 10 ,943 10 ,319 6 ,186 10 ,150 5 ,817 7 ,785 12 ,351 10 ,313 6 7 8 9 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -1 20 ,031 20 ,032 2 22 ,050 22 ,048 23 ,059 23 ,059 24 ,135 24 ,135 1 25 ,135 25 ,134 25 ,882 25 ,882 26 ,827 26 ,827 28 ,002 28 ,002 7 8 9 10 11 12 13 • Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 15 ,717 35 ,539 20 ,031 39 ,853 6 ,518 21 ,724 22 ,050 37 ,256 1 ,888 6 ,877 23 ,059 28 ,048 3 ,849 17 ,951 24 ,135 38 ,237 -1 ,651 11 ,232 25 ,135 38 ,018 -363 9 ,950 25 ,882 36 ,195 -541 16 ,371 26 ,827 43 ,739 1 ,778 18 ,295 28 ,002 44 ,519 10 11 12 13 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 15 ,717 232 15 ,009 476 6 ,518 63 6 ,745 -290 1 ,888 -330 1 ,931 287 3 ,849 -293 3 ,654 488 -1 ,651 239 - 2 ,086 196 -363 -188 -1 ,148 973 -541 -306 266 -501 1 ,778 -279 779 1 ,278 14 15 16 17 4 5 - 6 14 15 16 17 4 5 + Change in the value of land holdings 7 ,382 7 >559 6 ,744 5 ,787 5, ,097 5 ,622 1 ,916 1 ,973 18 19 20 21 + Reval. of fgn. dir. invest. Change in value -Direct investment 1,> 159 3,.110 1,.951 447 2,,889 2,,442 834 2 ,015 1 , 181 1 ,046 2 ,418 1 ,372 -902 2,,038 2,,940 198 2 ,852 2 ,654 -292 2 ,559 2,,851 -23 19 3 ,460 20 3 ,483 21 22 23 24 - Reval. of dir. inv. in U.S. Change in value -Direct investment 251 489 238 -9 306 315 171 482 311 -126 220 346 101 22 332 23 231 24 25 + Other revaluations 18 26 = Change in net worth 96 251 155 151 383 232 -1 35,• 050 1 24, 746 307 405 98 -154 1 -101 -7 46 25 15,,345 20,,427 8, 370 12,,970 13, 553 13,,986 26 - Tangibles and net worth on historical cost basis: 27 = Net investment flow 10, 943 10, 319 6,,186 10, 150 5, 817 7, 785 12, 351 10, 313 27 28 29 30 31 -1, 033 24, 405 14, 415 39, 853 -1, 323 20, 233 15, 700 37, 256 -1, 708 9, 487 16,853 28, 048 765 19, 547 17, 925 38, 237 837 18, 054 19, 127 38, 018 265 16,.105 20, 355 36, 195 -1, 960 20, 195 21, 584 43, 739 -75 21, 478 22, 966 44, 519 + Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) + Change in the value of land holdings - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 32 33 34 35 28 29 30 31 !' 212 745 1, 514 1, 607 1,519 2, 054 1,858 1,858 32 -5, 617 14, 415 20, 032 — 6, 348 15, 700 22, 048 -6, 206 16,853 23, 059 -6, 210 17, 925 24, 135 — 6» 007 19, 127 25, 134 -5, 527 20, 355 25,882 -5, 243 21, 584 26, 827 -5, 036 33 966 34 28, 002 35 36 + Reval. of fgn. dir. invest. 1, 159 447 834 1, 046 902 198 292 -23 36 37 - Reval. of dir. inv. in U.S. 151 96 307 251 -9 171 126 101 37 38 + Other revaluations -1 1 - •154 1 101 -7 46 38 39 = Change in net worth 17, 746 16,441 17,843 11, 614 15, 557 17, 319 17, 054 39 (1) Before inventory valuation adjustment. Data are in millions of dollars. 12, 725 October 1988 NonfInancial Corporate Business Nonfinancial Corporate Business Sector Stock-Flow Reconciliation Statement 5 3 Annual Flows Annual Flows 1*64 1965 1966 1967 1968 1969 1970 1971 Nonfinancial Corporate Business* Excluding Farms 69, 059 Gross inv.,Flow of Funds basis 1 45, 061 49, 829 56,549 56, 915 57, 934 64, 191 58,918 2 5 1, 145 -28 1,259 2, 597 159 1, 330 5, 406 44 5,694 529 11,435 717 4 5 29, 448 494 51,459 - 1 ,245 54,281 -2,107 57,556 - 1 ,554 41, 448 - 5 , 651 45, 399 -5,870 49,857 -6,552 54, 783 - 4 ,584 6 15,252 19,587 25,454 23, 508 18, 648 28, 024 20,978 29, 578 1 • Corporate equity issues Min. rights from U.S. govt. 2 5 - Capital consump.allow., NIPA Inventory valuation adj. 4 5 * Net investment flow, Balance Sheet basis 6 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 7 8 9 7 8 9 29, 448 29, 448 1 51,460 51,459 34,281 34,281 1 57, 557 37, 556 -1 41, 447 41, 448 45, 399 45, 599 49,857 49,857 1 54, 784 54, 785 10 11 12 15 4,436 25, 557 29, 448 50, 569 6, 699 58, 087 51, 460 62,848 15,508 56.634 34,281 77,407 15, 609 48, 794 57, 557 72. 742 27, 035 65, 505 41, 447 77, 715 28, 472 72, 191 45, 399 89. 118 30,911 66,490 49,857 85,436 56, 296 70, 495 54. 784 88. 981 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 10 11 12 15 14 15 16 17 4, 456 182 5..209 1.,045 6,699 -116 6,752 85 15,508 868 12,405 255 15. 609 -520 12, 696 1.,435 27. 035 1, 114 24, 524 1,,597 28, 472 li,401 24,,469 2,,602 30,911 497 51,901 -1,487 56, 296 1, 165 54,,704 427 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 14 15 16 17 18 5.,091 5.,251 5,654 254 26 5,,656 2,649 2,,979 Change in the value of land holdings 18 -15 5 ,744 5 • 759 -17 4i,805 4,,820 -5,101 1,724 4,825 -58 4,,522 41,560 55 5.,218 3 ,165 226 5 ,157 4 ,931 i -203 6,565 6,768 338 6 ,119 6 ,457 Reval. of fgn. dir. Invest. Change in value -Direct investment 19 20 21 20 454 414 -169 257 426 171 869 698 84 892 808 -260 1,003 1,263 -12 1,452 1,464 276 644 568 Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 19 20 21 • 22 23 24 97 419 522 25 222 29 -46 88 772 -155 -50 1 ,927 • Other revaluations 25 22 ,889 29 ,528 59,618 57 ,029 46 ,451 60 ,485 54,297 70 ,165 * Change in net worth 26 15 ,252 19 ,587 25,454 25 ,508 18 ,648 28 ,024 20,978 29 ,578 28 29 50 51 -629 25 ,441 24 ,499 50 ,569 - 1 ,721 54 ,765 26 ,564 62 ,848 -2,164 46,605 28,640 77,407 - 1 ,064 40 ,551 31 ,127 72 ,742 -55 43 ,994 55 ,688 77 .715 655 55 ,044 56 ,727 89 ,118 -712 44,854 59,890 85,456 - 2 ,807 45 ,205 42 ,969 88 ,981 32 1 ,988 2 ,576 2,549 2 ,175 2 ,290 4 ,258 1,652 1 ,935 55 54 55 - 4 ,949 24 ,499 29 ,448 5 ,095 26 ,564 51 ,459 -5,641 28,640 54,281 - 6 ,429 51 ,127 57 ,556 - 7 ,760 55 ,688 41 ,448 - 8 ,672 36 ,727 45 ,599 -9,967 59,890 49,857 -11 ,814 42 ,969 54 ,785 ' 36 -15 -17 -5,101 -58 53 226 -205 -558 • 26 Tangibles and net worth on historical cost basis: 27 57 58 59 97 222 21 ,670 -169 20 -46 29 25 ,529 28,282 171 88 50 ,727 84 772 29 ,406 -260 -155 41 ,958 -12 -50 51,644 276 1 ,927 • • Net investment flow 27 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 28 29 30 51 Change in the value of land holdings 52 Depreciation valuation adj. 55 54 Depreciation charges -Cap. consump. allow., NIPA 55 Reval. of fgn. dir. invest. 56 - Reval. of dir. inv. in U.S. 57 • Other revaluations 58 41 ,833 = Change in net worth (1) Before inventory valuation adjustment. Data are in millions of dollars. 59 Corporate Business Nor,,Inane.1 u , g/J, W . . . Sector Stock-Flow Reconciliation Statement , Annuel Flows Arifiud ] F J ows 1972 1973 1974 1975 1976 1977 1978 1979 Nonflnanclal Corporate Business, Excluding Farms 1 Gross iny..Flow of Funds basis 5:I"""..., 78.045 '•«! 68.572 }:a::;:™:;;::™;;"" $8$ -»s 6 ' NIalan«SsJI'^ 54.554 27.886 : ! V ™E EE :;E'::;. r = 5 S ~ - i r s s s s ' 18 " C l a n d e h ^ l d i n g s V a l U e ° f sis sis "Br£i£," 25 + Other revaluations 26 = Change in net worth t:s: Jtss 62.085 s:s: 122.902 "5 -ass 50.561 137.785 148.002 192.780 259.16: irs s ® sss sms ; 56.944 t'">i 50.575 1 .:«! ">:?« s 86.160 120.648 6 ass :s:» !K:s ass : I I I I :il I s I I H i I I IIII 1=1 a :i|! a s :a :::| S i :i|= 6.125 13,932 22,653 i;:B idi IS 8,399 12,407 I' " S : ; ; ' : S £ ; t : E r !:!U 101.522 "M s is 22.891 ;:E a a i:s 33,929 22,031 18 i::E : a 1.561 11.547 30,103 -607 4,024 -724 554 3,563 25 75,744 108,270 286,356 150,405 151,383 166,333 283,247 304,050 26 62,085 50,561 56,944 50,575 86,160 120,648 27 1,809 159,120 83,011 240,322 Tangibles and net worth on historical cost basis: 27 = Net investment flow 28 • Reval. of physical assets 29 Change in value 30 Depreciation charges 31 -Gross purchases (1) 32 33 34 35 36 * - + Change in the value of land holdings Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA Reval. of fgn. dir. invest. Reval. of dir. inv. in U.S. 37 38 + Other revaluations 39 - Change in net worth 34,554 6,877 189,273 94,331 276,727 28 29 30 31 1,615 55,464 46,825 100,674 1,347 86,429 50,760 135,842 7,208 123,071 55,680 171,543 64,361 61,016 121.883 -3,057 98,002 66,799 167,858 570 120,339 74,003 193,772 2.,871 4,,518 3,889 1,,178 1,,514 2, 936 4,,222 3, 615 32 -46 ,833 83 ,011 129 ,844 -55, 278 33 94, 331 34 149, 609 35 346 36 -13,-286 46,,825 60,,111 -14 ,463 50 ,760 65 ,223 -20, 621 55, 680 76,,301 -30,,862 61,,016 91 ,878 -35,,502 66,,799 102,,301 ,318 74,,003 114,,321 -629 82 -287 -272 810 -2,,709 286 -1 ,238 97 -20 115 37 554 3,,563 38 139 ,884 189,,520 39 6 2 ,888 -173 -85 1 ,561 11 ,547 30,,103 -607 4 ,024 -724 53 ,252 56 ,955 123 ,792 85 ,301 96 ,975 90 ,869 (1) Before inventory valuation adjustment. Data are in millions of dollars. 27,886 October 1988 Nonfinanclal Corporate Business , . ^ , Nonfinanclal Corporate Business Sector Stock-Flow Reconciliation Statement 55 Annual Flows 1980 ' 1981 1982 1983 1984 1985 1986 Annual Flows 1987 Nonfinanclal Corporate Business, Excluding Farms 1 217, 385 247, 201 247, 240 251, 151 346, 399 328, 388 319, 569 318, 078 Gross inv..Flow of Funds basis 2 3 12,875 4, 997 — 11, 450 4,847 6, 400 7, 791 23, 500 7, 785 - 7 4 ,475 7, 902 -81,500 4, 376 -80, 750 7, 194 -76,500 2, 936 4 5 171,262 -43, 129 198, 782 -24, 189 221, 393 - 1 0 , 350 228, 196 - 1 0 , 900 238, 436 - 5 ,800 250, 967 - 1 , 675 262, 583 8, 350 274, 719 -18, 025 6 97, 130 56, 311 34,806 49, 570 31, 386 - 6 , 780 -39, 308 1 Corporate equity issues Min. rights from U.S. govt. 2 3 Capital consump.allow., NIPA Inventory valuation adj. 4 5 -18, 052 Net investment flow, Balance Sheet basis 6 7 8 9 • - = 7 8 9 -1 171,261 171,262 1 198, 783 198, 782 9 221, 402 221, 393 -12 228, 184 228, 196 6 238, 442 238, 436 -13 250, 954 250, 967 -44 262, 539 262, 583 -67 274, 652 274, 719 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 10 11 12 13 208, 599 319, 169 171,261 281,831 215, 129 322, 219 198, 783 305, 873 76, 705 114, 322 221, 402 259, 019 33, 297 78, 917 228, 184 273, 804 69, 515 199, 595 238, 442 368, 522 30, 312 118, 957 250, 954 339, 599 52, 317 105, 730 262, 539 315, 952 94, 788 196, 593 274, 652 376, 457 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 10 11 12 13 14 15 16 17 208, 599 4, 411 186, 480 17, 708 215, 129 4, 712 193, 165 17, 252 76, 705 -1, 018 81, 745 -4, 022 33, 297 1, 995 27, 635 3,,667 69, 515 1, 903 58,.371 9,,241 30,.312 2,,220 23,,794 4,,298 52, 317 1,,504 45,,718 5,,095 94, 788 2, 396 74, 292 18, 100 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) 14 15 16 17 18 50, 710 51, 935 31,,015 24,,424 39,,010 30,,840 31,,959 24,,728 Change in the value of land holdings 18 19 20 21 6,,671 30,.227 23,,556 3,,774 16,,359 12,,585 -21,,673 -11,,479 10,,194 -7,,235 2,,587 9 ,822 -7,,226 6,,007 13,,233 6,,433 16,,028 9,,595 10,,035 23,,697 13,,662 20, 187 46,,761 26, 574 Reval. of fgn. dir. invest. Change in value -Direct investment 19 20 21 22 23 24 11.,666 28,,584 16,• 918 472 25 ,668 25,, 196 2,,171 15,,963 13,,792 435 12 ,382 11 ,947 2,,163 27 ,522 25 ,359 1 ,010 20,,032 19,,022 1,,708 35,,799 34,,091 463 41,,513 41,,976 Reval. of dir. inv. in U.S. Change in value -Direct investment 22 23 24 25 4 ,064 3 ,537 5 ,009 - 1 ,257 - 2 ,474 1 ,442 6,,932 -26,,864 Other revaluations 25 26 355 ,509 330 ,213 123 ,682 98 ,376 128 ,042 61 ,250 60 ,271 27 97 ,130 56 ,311 34 ,806 49 ,570 31 ,386 - 6 ,780 -39 ,308 - 1 8 ,052 = Net investment flow 28 29 30 31 6 ,703 182 ,129 106 ,405 281 ,831 13 ,562 199 ,712 119 ,723 305 ,873 -11 ,025 114 ,148 133 ,846 259 ,019 - 1 ,398 125 ,127 147 ,279 273 ,804 6 ,613 213 ,331 161 ,804 368 ,522 5 ,968 167 ,118 178 ,449 339 ,599 10 ,657 132 ,731 193 ,878 315 ,952 11 ,764 180 ,153 208 ,068 376 ,457 32 6 ,570 7 ,854 5 ,442 7 ,670 8 ,504 11 ,677 9 ,198 9 ,933 33 34 35 -64 ,857 106 ,405 171 ,262 -79 ,059 119 ,723 198 ,782 - 8 7 ,547 133 ,846 221 ,393 - 8 0 ,917 147 ,279 228 ,196 -76 ,632 161 ,804 238 ,436 - 7 2 ,518 178 ,449 250 ,967 -68 ,705 193 ,878 262 ,583 — 66 ,651 208 ,068 274 ,719 ' Depreciation valuation adj. 33 34 Depreciation charges -Cap. consump. allow., NIPA 35 36 6 ,671 3 ,774 -21 ,673 - 7 ,235 - 7 ,226 6 ,433 10 ,035 20 ,187 • Reval. of fgn. dir. invest. 36 37 11 ,666 472 2 ,171 435 2 ,163 1 ,010 1 ,708 -463 - Reval. of dir. inv. in U.S. 37 38 4 ,064 3 ,537 5 ,009 - 1 ,257 - 2 ,474 1 ,442 6 ,932 -26 ,864 • Other revaluations 38 64 ,082 = Change in net worth 39 + + 95,,317 = Change in net worth 26 Tangibles and net worth <:>n historical cost basis: 39 174 ,329 163 ,625 97 ,935 127 ,832 111 ,272 90 ,248 64 ,511 • 28 29 30 31 Change in the value of land holdings 32 (1) Before inventory valuation adjustment. Data are in millions of dollars. 27 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) October 1988 Private Financial Institutions 56 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1949 1953 1950 Private Financial Institutions 1 Gross lnv..Flow of Funds basis 1.324 1.197 2.046 1.266 2.204 1.912 3.486 2.143 2 • Corporate equity Issues 3 - Mutual fund shares issued 178 96 358 327 357 239 488 297 706 531 610 408 856 522 832 780 4 - Capital consump.allow.. NIPA 260 271 283 325 352 375 409 1.146 957 1.881 1.132 2.027 1.739 3.411 4.263 4.263 4.452 4.452 5.055 5.055 ~ 5.411 5,411 , * 6.662 6.655 „ 7»<-62 7.258 7.758 7.705 9 - Reval. of mutual fund shares 10 Change in value 11 -Shares issued 7 103 96 1.228 1.555 327 35 274 239 -160 137 297 -81 450 531 -193 215 408 1.963 522 1»7*.9 10 780 11 12 - Depreciation valuation adj. 13 Depreciation charges 14 -Cap. consump. allow., NIPA 260 260 271 271 283 283 325 325 351 352 374 375 ~ 409 409 ~ 434 13 434 14 15 16 17 18 + Reval. of physical assets (nonres. plant & equipment) Change in value Depreciation charges -Gross purchases» FOF basis 130 223 260 353 -13 73 271 357 220 331 283 394 313 419 325 431 -56 149 351 556 207 265 374 432 13 257 409 653 359 672 434 747 19 • Change in the value of land holdings 5 e Net investment flow. Balance Sheet basis - Reval. of life insur. and pension fund reserves 6 7 Change in liability 8 —Net claims issued 20 + Reval. of corp.equity hldgs. 21 Change in value 22 -Net purchases 23 + Other revaluations 24 = Change in net worth Data are in millions of dollars. 1 2,265 10.273 8.008 15 16 17 18 33 13 53 66 33 76 124 151 19 -73 288 361 1,628 2,506 878 358 1,347 989 120 845 725 231 1,609 1,378 -263 1,075 1,338 3,290 4,787 1.497 £? 6,416 21 1.484 22 -22 -23 -30 -48 -108 -26 -318 -267 23 1.207 1.334 2.447 1.743 2.202 1,923 5,026 3.722 24 October 1988 Private Financial Institutions Private Financial Institutions 57 Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1956 1957 1958 1959 1960 1961 1962 1963 3,262 3,846 4,171 2,297 Gross inv.,Flow of Funds basis 1 1,901 1,661 1,739 + Corporate equity issues 1,400 - Mutual fund shares issued 2 3 726 Private Financial Institutions 1 2,113 3, 151 2,155 2, 618 2 3 1,378 1,049 1,409 1,070 1, 798 1,596 1, 965 1, 698 1,584 1,383 2,559 2,125 4 503 553 576 609 652 685 5 1,939 2, 777 1,941 2. 276 2,811 3,595 3,685 794 - Capital consump.allow., NIPA = Net investment flow, 1,842 Balance Sheet basis - Reval. of life insur. and 3,926 pension fund reserves 16,508 Change in liability 12,582 -Net claims issued 4 5 6 7 8 5 8,348 8,343 -662 8,304 8,966 2,,733 12,,121 9,,388 1,,246 12,,122 10,,876 88 10,634 10,546 4,201 15,275 11,074 -3,274 8,632 11,906 9 10 11 159 1,208 1,049 -1,402 -332 1,070 2,,931 4.,527 1 ,596 879 ,577 2, 1,,698 -175 1,208 1,383 3,724 5,8.49 2,125 -3,265 -1,604 1,661 2,543 - Reval. of mutual fund shares 9 3,943 Change in value 10 1,400 -Shares issued 11 12 13 14 -1 552 553 - - - 503 503 576 576 609 609 652 652 685 685 -1 725 726 - 1 - Depreciation valuation adj. 12 793 Depreciation charges 13 794 -Cap. consump. allow., NIPA 14 15 16 17 18 479 728 503 752 142 453 552 863 61 351 576 866 113 527 609 1 ,023 280 435 652 807 115 458 685 1,028 576 833 725 982 164 717 793 1,346 19 203 210 218 217 216 271 221 182 11,091 15,146 4,055 -7,673 -3,490 4,183 20 21 22 333 1,802 1,469 -2,696 -416 2,280 8 ,431 10 ,831 2 ,400 2 ,952 6 ,273 3 ,321 175 3,605 3,430 23 -154 -68 -360 -64 -111 -92 -37 3,458 7,055 3,312 24 2,636 1,594 Data are in millions of dollars. / 5 ,463 3 ,369 6 7 8 • Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 15 16 17 18 • Change in the value of land holdings 19 8,860 • Reval. of corp.equity hldgs. 20 12,733 Change in value 21 3,873 -Net purchases 22 -393 + Other revaluations 23 4,187 = Change in net worth 24 October 1988 Private Financial Institutions 58 Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows Private Financial Institutions 1 Gross inv.,Flow of Funds basis 3*698 2 • Corporate equity issues 3 - Mutual fund shares issued 2,178 2.006 4 - Capital consump.allow., NIPA = Net investment flow, 5 Balance Sheet basis - Reval. of life insur. and 6 pension fund reserves 7 Change in liability 8 - N e t claims issued 3,628 3,247 3,220 3,710 3,634 2,615 2,535 7,067 5,442 4,816 7,071 5,735 4,533 2,551 1 3,137 915 867 1,109 1,644 2,031 3,003 1,828 1,150 7,258 4,064 19,092 15,028 4.103 19,640 15,537 -5,000 12,967 17,967 8,396 25,755 17,359 6,590 25,210 18,620 —6,084 14,168 20,252 2,201 23,903 21,702 9 - Reval. of mutual fund shares 10 Change in value 11 - S h a r e s issued 1,896 3,902 2,006 2,884 6.104 3,220 -4,025 -391 3,634 6,943 9,478 2,535 2,109 6,925 4,816 -9,380 -3,645 5,735 -3,327 -776 2,551 7,720 9 8,635 10 915 11 12 - Depreciation valuation adj. 13 Depreciation charges 14 - C a p . consump. allow., NIPA -1 866 867 -1 979 980 -1 1,108 1,109 1,273 1,273 1,497 1,497 1,644 1,644 -1 1.798 1.799 - 1 12 2.030 13 2.031 14 15 16 17 18 • Reval. of physical assets (nonres. plant & equipment) Change in value Depreciation charges - G r o s s purchases, FOF basis 664 1,228 866 1,430 719 1,617 979 1,877 588 1,728 1,108 2,248 452 1,747 1,273 2,568 -680 2,818 1,497 4,995 -781 2,587 1,644 5,012 -539 2,757 1,798 5,094 -19 3,441 2,030 5,490 19 • Change in the value of land holdings 9,281 15,211 5,930 -10,245 —4,395 5,850 19,096 27,847 8,751 12,121 22,789 10,668 -16,440 -4,416 12,024 -1,789 9,031 10,820 20 • Reval. of corp.equity hldgs. 21 Change in value 22 - N e t purchases 23 + Other revaluations 24 = Change in net worth Data are in millions of dollars. 15,451 40,514 25,063 15 16 17 18 262 8,450 12,817 4,367 26,078 20 45,458 21 19,380 22 109 -49 189 3 -1,129 85 768 23 6,529 1,321 6,794 8,734 -1,516 -1,257 11,098 24 October 1988 Private Financial Institutions Private Financial Institutions Sector Stock-Flow Reconciliation Statements 59 Annual Flows Annual Flows 1972 1973 1974 1975 1976 1977 1978 1979 Private Financial Institutions 1 4 ,141 9 ,122 4 ,372 - 7 ,447 9 ,952 12 ,938 24 ,041 2 3 3 ,474 -61 3 ,019 61 1 ,951 722 975 -92 504 - 1 ,977 3 ,599 967 2 ,445 -72 3 ,047 + Corporate equity issues 382 - Mutual fund shares issued 2 3 4 2 ,267 2 ,571 3 ,219 3 ,908 4 ,548 5 ,324 6 ,391 7 ,623 4 5 5 ,409 9,,509 2 ,382 - 1 0 ,288 7 ,885 10 ,246 20 ,167 28 ,888 Gross inv.,Flow of Funds basis 11 ,841 57 ,147 45 ,306 -25,,868 11,,708 37,,576 - 2 9 ,243 11 ,612 40 ,855 34 ,895 103,,020 68 ,125 15 ,572 67 ,475 51 ,903 -16 ,185 55 ,726 71,,911 9 10 11 3 ,541 3 ,480 -61 -12,,352 -12,,291 61 - 1 2 ,206 -11 ,484 722 7 ,975 7 ,883 -92 5 ,453 3 ,476 - 1 ,977 - 1 ,987 -1,,020 967 631 559 -72 12 13 14 2 ,267 2 ,267 -1 2,,570 2,,571 3 ,219 3,,219 -1 3 ,907 3,,908 -1 4 ,547 4 ,548 -1 5,,323 5 ,324 6,,391 6,,391 7 ,623 7 ,623 15 16 17 18 -1 ,152 3 ,139 2,,267 6 ,558 -46 5,,101 2,,570 7,,717 4 ,399 9,,172 3 ,219 7,,992 1,,497 5,,190 3,,907 7,,600 3,,057 6 ,268 4 ,547 7 ,758 4,,193 7,,692 5,,323 8,,822 7,,472 12,,541 6,,391 11,,460 3 ,724 9 ,733 7 ,623 13,,632 19 188 251 508 -325 146 263 733 53 20 21 22 20,,688 42 ,122 21,,434 -44,,720 -32,,743 11,,977 -52,,365 -46,,723 5,,642 46,,763 57,,935 11,,172 25,,324 34,,064 8,,740 -19,,022 -7,,864 11,,158 22,,073 34,,805 12,,732 - - - Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 14 ,423 108 ,077 93 ,654 5 ,357 5 ,739 382 - 6 7 8 Depreciation valuation adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA 14 + Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 15 16 17 18 Change in the value of land holdings 19 23,,834 + Reval. of corp.equity hldgs. 20 42,,494 Change in value 21 18,,660 -Net purchases 22 23 73 942 892 744 2,,144 1,,107 -661 1,,044 24 9 ,824 4,,157 -2,,735 -4,,478 17,,532 14,,960 31, 799 32,,805 5 Reval. of mutual fund shares 9 Change in value 10 -Shares issued 11 + Data are in millions of dollars. Capital consump.allow., NIPA s Net investment flow. 23 ,930 Balance Sheet basis 6 7 8 17,,354 105,,156 ' 87,,802 - 1 Other revaluations 23 Change in net worth 24 October 1988 Private Financial Institutions g g Private Financial Institutions Sector Stock-Flow Reconciliation Statements Annual Flows Annual Flows 1980 1981 1982 1985 1984 1985 1986 1987 Private Financial Institutions 1 Gross inv.»Flow of Funds basis 2 3 - Corporate equity issues Mutual fund shares issued 4 - Capital consump.allow.» NIPA + 5 Net investment flow. Balance Sheet basis 6 7 8 Reval. of life insur. and pension fund reserves Change in liability -Net claims issued 26 ,440 392 6,,247 13,,934 7 ,114 20,,635 34 ,161 28 ,084 1 5 ,022 2 ,865 6 ,406 3,,717 13,,443 8 ,769 30,,873 27,,224 37 ,536 29 ,340 97,,898 84,,379 173,,341 161 ,834 92 ,161 72 ,303 2 3 8 ,871 10 ,485 12,,025 12,,900 14 ,475 ,025 16 < 18,,350 21 ,275 4 19,,726 -7,,404 -1,,104 4 ,683 835 18,,129 27,,318 26 ,667 5 40,,225 149,,935 109,,710 -27 ,833 80 ,038 107,,871 41,,403 177,,523 136,,120 61,,682 206,,616 144,,934 - 1 2 ,555 126 ,916 139 ,471 94,,790 261,,252 166,,462 80 ,912 252,,494 171,,582 40,,265 209,,901 169,,636 6 7 8 9 10 11 Reval. of mutual fund shares Change in value -Shares issued 7 ,155 10,,020 2,,865 - 5 ,684 -1,,967 3 ,717 8,,241 17,,010 8.,769 8,,046 35,,270 27,,224 - 4 ,782 24 ,558 29 ,340 19,,172 103,,551 84,,379 11,,409 173,,243 161,,834 -25,,632 9 46,,671 10 72,,303 11 12 13 14 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 ,871 8 ,871 10,,485 10,,485 -7 12,,018 12,,025 32 12,,932 12,,900 -16 14 ,459 14,,475 -14 16,,011 16,,025 -21 18,,329 18,,350 - 4 12 21,.271 13 21,.275 14 Reval. of physical assets (nonres. plant 8 equipment) Change in value Depreciation charges -Gross purchases, FOF basis 7 ,725 12,,976 8,,871 14,,122 7,,857 13,,391 10,,485 16,,019 3,,531 8,,772 12,,018 17,,259 628 7,,067 12,,932 19,,371 1 ,829 17 ,088 14,,459 29,,718 -5,,631 15,-272 16,.011 36,.914 2,,465 25,.465 18,,329 41,,329 1,,990 25, 299 21,.271 44,,580 + 15 16 17 18 + Change in the value of land holdings 20 21 22 + Reval. of corp.equity hldgs. Change in value -Net purchases 23 + Other revaluations 19 24 = Change in net worth Data are in millions of dollars. 15 16 17 18 763 845 357 488 1,,196 1,,111 1,,333 1,,703 19 54,,318 77,,312 22 ,994 -35,,386 -7,,334 28,,052 54,,756 82,,183 27,,427 82,,764 131,,100 48,,336 -11,,754 1,,516 13,,270 137,,297 171,.472 34..175 120,,017 155,,944 35,,927 25,.792 20 50,.855 21 25, 063 22 1 ,453 -2,,252 -2,,489 1,,163 44,,177 9,,124 5,.567 -14,,732 23 36,,605 -2,,823 5,,414 19,,966 53,,636 46,.082 64,,400 26,.791 24
@FedFRASER