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C.9 October 1990 Balance Sheets Flow of Funds Balance Sheets For the U.S. Economy 1945-89 1 Board of Governors of the Federal Reserve System, Washington, D.C. 20551 Table of Contents Pages Balance sheet tables: 1-6 National Net Worth 7-12 Net Foreign Assets 13-18 Tangible Asset Holdings 19-24 Households 25-30 Farm and Nonfarm Noncorporate Business 31-36 Nonfinancial Corporate Business 37-42 Private Financial Institutions Stock-flow reconciliation tables: 43-48 National Net Worth 49-54 U.S. Net Foreign Assets 55-60 Tangible Asset Holdings 61-66 Households 67-72 Farm and Nonfarm Noncorporate Business 73-78 Nonfinancial Corporate Business 79-84 Private Financial Institutions BALANCE SHEETS FOR THE U.S. ECONOMY 1945 through 1989 The attached tables show data for tangible and financial assets, liabilities, and net worth for the private sectors of the economy (households, business, and private financial institutions). The tables were last published in April 1990. This issue incorporates data from the usual three-year revision in the National Income and Product Accounts at the Bureau of Economic Analysis (BEA) and from the annual revision in financial assets and liabilities in the Flow of Funds Accounts. Most of the revisions in financial data go back to 1980, but there are a few changes going back to 1945. New estimates have been completed that have changed the corporate-noncorporate allocation of net worth for the farm sector and for private financial institutions. Tangible assets have been revised slightly for all years for private financial institutions; these revisions are reflected in changes in the tangible assets of nonfinancial corporations, which is the residual sector for nonresidential structures of all corporations. A series for residential structures at real estate investment trusts has been introduced on the financial institutions table (residential construction expenditures appear on the saving and investment table for REITs in the Flow of Funds Accounts). Series for nonresidential structures have also been added to the monetary authority and federally sponsored credit agencies sectors. These two groups do not appear in the Balance Sheets, but the changes are included on the national net worth tables as part of the net assets of the public sector. The figures shown on the tables for equipment, residential and nonresidential structures, and inventories are from tabulations published by BEA.1 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 historicalcost data. Reproducible assets are shown at current cost net of straight-line depreciation. The values for land are Federal Reserve estimates based mainly on data from quinquennial Censuses of Governments on real estate assessments. The figures for net worth, calculated as total tangible and financial assets less total liabilities, reflect these current-cost values. For nonfinancial corporations the balance sheet statement also includes data for tangible assets valued at historical cost, the amount actually paid for the items when they were bought, and the net worth 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, 1986-89," Survey of Current Business, vol. 70 (August 1990), pp. 99-102. amounts that result. The historical-cost estimates for reproducible assets come from the same BEA calculation as the one that produces the current-cost estimates, and they are consistent with each other in definition. Along with the balance sheets is a set of reconciliation tables that relate changes in the net worth totals to the gross investment flows that are published in the quarterly Flow of Funds Accounts. Changes in net worth result from gross investment, less depreciation, and inflows from equity issues. Other factors that affect net worth include revaluations in tangible and financial assets due to price changes and statististical discontinuities, and changes in land values; neither of these items appears in the quarterly Flow of Funds savings and investment statements. Subscription information. The Federal Reserve Board charges nominal amounts for subscriptions to all public releases. The annual charge for the Z.7 release, Flow of Funds Summary Statistics, is $5.00; the full Z.l release (flows and annual outstandings) is $15.00. The C.9 release, Balance Sheets for the U.S. Economy, which appears twice a year, usually in April and October, is $5.00 per year. There is no charge for subscriptions sent to academic or governmental addresses. Subscription requests for these releases should be directed to: Publications Services, Stop 138 Board of Governors of the Federal Reserve System 20th and Constitution Avenue NW Washington, D.C. 20551 (202) 452-3245 Two historical volumes of annual data are available: Flow of Funds Accounts, 1946-1969, published in December 1986, and Flow of Funds Accounts, 1970-1987, published in December 1988, at $5.00 each. The theory and structure of the accounts is explained in Introduction to Flow of Funds, published in June 1980, which costs $1.50. These may also be ordered from Publications Services. Checks for all orders should be made payable to Board of Governors of the Federal Reserve System. Sample copies of the releases mentioned above, or quarterly or annual historical data for specific sectors of the accounts, in reasonable scope, are available in printed form from the Flow of Funds Section on request. Computer tapes and diskettes for the entire quarterly data base for the accounts may be purchased from the National Technical Information Service, 5285 Port Royal Road, Springfield, Virginia 22161. Tape and diskette prices are determined by NTIS. (The telephone number at NTIS is (703) 487-4808.) Requests and inquiries about data and historical tabulations should be addressed to the Flow of Funds Section, Stop 95, at the Federal Reserve street address given above for the Publications Section. The telephone number of the Flow of Funds Section is (202) 452-3482. October 1990 National Net Worth National Net Worth 1 Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings 1 2 3 4 5 6 7 463 ,403 346 ,557 135 ,966 114 ,511 49 ,870 46 i ,210 116,,846 10 : '*942 E 11 7.675 ! 12 13 14 16,,321 2,,507 2,,700 Year-End Outstandings 553,,287 423,,181 160,,323 140,,749 68,.938 53,.171 130,.106 648 ,649 506 ,771 190 ,528 171,,237 79 ,877 65,,129 141,,878 '!:! 1.001 972 714,,868 564,,304 210,,672 192,,256 85,,122 76,,254 150,,564 ";944 *3 745,,438 590,,674 223,,263 203,,761 77,,084 86,.566 154,.764 856 ,988 680 ,469 249,,242 226 ,903 96,,135 108,,189 176,.519 952 ,609 758 ,085 273 ,009 251 ,838 108 ,823 124 ,415 194,,524 a 708 s m 1,175 91*390 P 1000,334 Domestic net worth (1)(2) 797.219 Reproducible assets (3) 288.153 Residential structures 267.074 Nonres. plant 8 equip. Inventories 108.003 133.989 Consumer durables 203.115 Land at market value 1,459 10,043 15,,111 2,,503 2,,690 13 ,665 2 ,603 2 ,480 14,,268 2 ,787 2,,305 14 ,655 2 ,941 2,,490 17 ,377 3 ,391 2 ,925 18 ,605 3 ,658 3 ,450 19,,782 3,,945 3,.705 ZZ'"Z.. Fgn. corporate equities Other financial claims owned by U.S. residents U.S. assets owned by foreigners Fgn. dir. invest, in U.S. U.S. corporate equities Other financial claims owned by fgn. residents 15 11,.114 9,,918 8,,582 9,,176 9,,224 11,,061 11,,497 12,.132 16 20,.083 20,,706 22,.868 24,.399 24,,563 22,,820 22,,872 23,.252 + U.S. monetary gold 8 SDRs 577,153 682.731 752,768 784,189 895,039 990,211 1039,590 National net worth, by sector (4): 1039.590 Total, all sectors (5) ^net\ssets^(4)^ national 1 2 3 4 5 6 7 : 10 11 12 13 14 15 16 ^ 18 483 .009 577 ,153 682 ,731 752 .768 784 ,189 895 .039 990 .211 19 703 ,222 793 ,438 885 ,815 946 .625 980 ,553 1084 ,511 1179 ,618 1240,133 Private net worth, consol. (6) 19 20 21 22 23 24 354 ,412 662 ,972 188 ,942 110 ,266 9 ,352 391 .684 721 ,868 217 ,850 102 ,090 10 ,244 428 ,946 782 ,448 241 ,991 99 ,837 11 ,674 457 .008 822 ,018 253 ,082 98 ,621 13 ,307 479 .264 854 ,563 253 ,832 106 ,375 15 ,092 524 ,762 957 ,733 285 ,141 130 ,319 17 ,511 570 ,382 1050 ,260 306 ,699 152 ,812 20 ,367 607,629 1107.915 309,604 166,498 24.184 25 26 27 113 ,469 76 ,738 132 ,902 126 ,925 92 ,473 154,,586 143 ,020 100 ,643 183 ,236 152 ,282 102 ,497 202,,397 155 ,910 99 ,549 212 ,679 167 ,565 119 ,586 235,,804 177 ,160 131 ,785 259 ,926 180,655 131.294 275.827 28 29 30 31 25,,701 21,,119 9,,352 4,,770 27,,770 22,,449 10,.244 4,.923 29 ,970 23 ,567 11 ,674 = 5,,271 32 ,441 24,,693 13,,307 5,.559 33,,151 26,,124 15,,092 8,.065 36,,794 28,,695 17,.511 9,.412 40,,365 30,,255 20,,367 10,,257 44,728 32,410 24,184 11,866 32 942 1, 001 972 944 708 1, 175 1,.390 1,459 - Foreign holdings of U.S. 3,705 corporate stock 33 -204,641 Public sector net assets -10,536 State and local governments -194,533 U.S. government 360 Sponsored credit agencies 68 Monetary authority 34 35 36 37 38 33 2, 700 2, 690 2, 480 2, 305 2, 490 2, 925 3, 450 34 35 36 37 38 -223,845 799 -223, 320 232 42 -221, 911 565 -221, 637 247 44 -207, 621 510 -207, 427 269 47 199, 114 656 198, 783 277 48 -202, 916 •890 -202, 356 284 46 -198, 661 - 3 , 909 -195, 118 311 55 -194,295 -5, 033 -189, 659 334 63 39 5, 390 7, 315 6, 045 6. 618 8 , 334 10. 939 6, 948 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held C 7 H 8 ) -Pension fund reserves 20 21 22 23 24 Nonfarm noncorp. business Farm business Nonfinancial corps. 25 26 27 Pvt. finan. inst. net assets Sector net worth -^Pension fund reserves -Corp. equities held (7)(8) 28 29 30 31 + Foreign corporate stock included in lines 23 8 31 6.344 Unallocated financial assets (1) Located within U.S. geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. C7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. Data are in millions of dollars. 18 32 39 October 1990 National Net Worth National Net Worth Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1959 1 Domestic net worth (11(2) Reproducible assets (3) 2 3 Residential structures Nonres. plant 8 equip. 4 5 Inventories 6 Consumer durables 7 Land at market value 1044 ,332 833 ,530 300 ,579 280 ,890 109 ,088 142 ,973 210,,802 1090 ,682 864,,745 317, 852 293,,079 106, 734 147, 080 225,, 937 8 9 10 + Foreign assets owned by U.S. residents U.S. dir. invest. abroad Fgn. corporate equities Other financial claims 11 owned by U.S. residents 38,021 16,253 1,329 40,283 17,631 1 ,868 12 13 14 - U.S. assets owned by foreigners Fgn. dir. invest. in U.S. U.S. corporate equities Other financial claims 15 owned by fgn. residents 20,811 4,251 3,650 23,929 4,633 5,254 12,910 14,042 14,256 16,188 16 + U.S. monetary gold 8 SDRs 22,091 21,793 21,753 22,058 1176 ,832 933 • 685 342 ,427 319 ,968 113,,975 157 ,315 243,-147 1960 1283,,638 1012,,198 361,,660 355,,916 122,,745 171,,877 271,,440 1351 ,782 1058 ,638 375 ,455 380 ,667 126 ,341 176 ,175 293,,144 1408 ,252 1091 ,827 390 ,946 392 ,660 126 ,259 181 ,962 316 ,425 1476 ,172 1139,,426 409,,688 409, 015 131, 714 189, 009 336, 746 43,049 19,395 2,439 49,005 22,505 2,625 53,608 25,394 2,233 58,383 27,409 3,095 62,606 29,827 3,689 67,514 8 31,865 9 3,984 10 25,907 5,076 6,575 28,608 5,459 6,961 28,734 5,710 6,091 32,392 6, 115 8,305 36,930 6,604 9,363 38,855 12 6,910 13 9,302 14 16,933 17,972 20,963 22,857 20,582 19,507 = Total consolidated national 17 net assets (4) 1533 ,876 1175 ,508 425 ,962 420,,382 135-• 508 193, 656 358,,368 1 2 3 4 5 6 7 1580,339 17 National net worth, by sector (4) 18 Total, all sectors (5) 1083 ,633 1128 ,829 1215 ,727 1326 ,093 1399 ,513 1454 ,825 1521 ,355 1580 ,339 18 19 Private net worth, consol. (6) 1292 ,497 1346 ,924 1431 ,500 1542 ,106 1618 ,119 1691 ,495 1764 ,199 1825 ,739 19 20 21 22 23 24 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held (7 ) (8 ) -Pension fund reserves 637 ,437 1135 ,947 311,,704 158,,268 28,,538 666 ,597 1245 ,860 317 ,058 228 ,910 33 ,295 708 ,127 1355 ,034 327 ,954 278,,455 40,,498 759 ,599 1446 ,893 345 ,574 296 ,041 45 ,679 790 ,220 1459 ,050 358 .830 258 ,668 51 ,332 828 ,701 1623 ,433 374 360 ,070 60 ,436 866 ,710 1704 , 151 382 ,022 386 ,173 69 ,246 906 ,742 1749 ,332 387 •431 3 78,431 76 ,728 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 184,,565 129,,540 291, 018 188 ,096 131 ,561 305 ,851 196,,037 134,,745 333,,025 206 ,966 141 ,838 368 ,061 213 ,861 148 ,606 392 ,802 220 ,501 157 ,846 408 , 152 225 ,008 161 ,500 428 586 28 29 30 31 Pvt. finan. inst. net assets Sector net worth •Pension fund reserves -Corp. equities held (7 ) (8 ) 49, 937 34,340 28, 538 12, 941 54 ,819 39 ,252 33 ,295 17 ,728 59,,566 43,,212 40, 498 24,. 144 65 ,642 45 ,909 45 ,679 25,,946 72 ,630 46 ,828 51 ,332 25 ,530 76 ,295 52 ,220 60 • 436 36 ,361 82 ,395 55 ,783 69 ,246 42 ,634 1,,329 1 ,868 2,,439 2,,625 2,233 32 + Foreign corporate stock included in lines 23 8 31 - Foreign holdings of U.S. 33 corporate stock 34 Public sector net assets 35 State and local governments 36 U.S. government 37 Sponsored credit agencies 38 Monetary authority 39 Unallocated financial assets 3,,650 5 ,254 6, 575 -214, 547 -14, 026 -200, 964 370 73 -223 ,841 -17 ,855 -206,,437 377 74 -223, 404 -21, 095 -202, 784 394 81 8. 004 9,,132 11, 767 C1) Located within U.S. geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. (7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. Data are in millions of dollars. 6 ,961 -222,• 066 -24,-072 -198,,500 410 96 10, 389 6,,091 -225,,218 -28 .734 -197 • 042 444 114 10, 470 3 ,095 20 21 22 23 24 229 ,810 25 162 ,441 26 436 ,957 27 89 ,789 59 ,300 76 ,728 46 ,239 28 29 30 31 3 ,689 : 3,,984 32 8 ,305 9 ,363 9, 302 33 -241 ,840 -34,,242 -208, 190 473 119 -249 ,060 -38,,410 -211 ,271 496 125 -250, 649 34 -41,.724 35 -209,• 573 36 517 37 131 38 10,,380 11,890 10, 567 39 October 1990 National Net Worth National Net Worth Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings 3 Year-End Outstandings 1965 1585,530 1207,779 441,560 432,260 137,164 196,795 377,751 1647,147 1254,747 459,106 449,563 143,761 202,317 392,400 1711,224 1302,401 471,540 468,552 149,508 212,801 408,823 1806,433 1376,073 502,050 494,943 155,367 223,713 430,360 1920,660 1466,972 526,165 535,711 169,035 236,061 453,688 2096,101 1602,086 567,478 590,951 185,170 258,487 494,015 2228,827 1717,644 596,380 640,677 197,377 283,210 511,183 8 9 10 74,517 34,717 4,902 78,836 37,276 4,714 85,556 40,736 5,145 96,791 44,480 5,270 103,882 49,283 5,048 110,319 51,007 4,324 121,158 12 13 14 43 ,476 7 ,392 11 ,808 44 ,043 7,,612 10,,336 49,,625 7,,944 12,, 485 55 ,125 8 ,363 13 ,835 57 ,313 8 ,797 14,,599 58 ,690 9 ,054 12 ,643 ! 77 ,761 9 ,923 25 ,511 87 ,740 10 ,815 29 ,517 15 24 ,276 26,,095 29,,196 32,,927 33,,917 36,,993 42,,327 47,,408 16 16,,947 16,,057 15, 596 15,,471 14, 065 13,,235 12, 065 10, 892 + U.S. monetary gold 8 SDRs 2160,965 2284,289 2494,089 5,238 60,591 1633,518 1863,570 2438,517 Domestic net worth ( 1 H 2 ) 1903,027 Reproducible assets (3) 667,831 Residential structures 709,247 Nonres. plant 8 equip. 211,732 Inventories 314,217 Consumer durables 535,490 Land at market value • Foreign assets owned by U.S. 132,420 residents 58-547 J.S. dir. invest, abroad 6,452 Fgn. corporate equities Other financial claims 67,421 owned by U.S. residents U.S. assets owned by foreigners Fgn. dir. invest. in U.S. U.S. corporate equities Other financial claims owned by fgn. residents = Total consolidated national net assets (4) 9 10 12 13 14 15 16 17 18 1633 ,518 1697 ,997 1762 ,751 1863 ,570 1981 ,294 2160 ,965 2284 ,289 National net worth, by sector (4): 2494,089 Total, all sectors (5) 19 1888 ,597 1961 ,079 2028 ,672 2135 ,599 2255 ,333 2437 ,435 2590 ,870 2810,294 Private net worth, consol. (6) 19 20 21 22 23 24 942 ,679 1906 ,434 397 ,178 477 ,928 88 ,649 978 ,351 1896 ,850 408 ,677 416 ,183 93 ,639 1017 ,160 2031 ,571 419 ,676 488 ,694 106 ,041 1077 ,674 2168 ,983 434 ,798 535 ,690 120 ,821 1140 ,715 2333 ,456 456 ,478 600 ,493 135 ,770 1241 ,299 2410 ,213 483 ,844 540 ,920 144 , 150 1340 ,549 2682 ,274 500 ,386 676 ,319 165 ,020 25 26 27 1477,816 3000,144 529,963 806,938 185,427 235 ,101 167 ,371 449 ,934 241 ,974 172 ,483 463 ,479 247 ,720 178 ,255 477 ,482 257 ,237 184 ,354 500 ,389 266 ,495 197 ,608 529 ,950 286 ,779 205 ,224 569 ,589 293 ,973 215 ,274 606 ,673 28 29 30 31 93 ,512 66 ,248 88 ,649 61,,385 104:,792 69,,048 93,,639 57,,895 108,,055 72,,642 106,,041 70,,628 115 78 120 83 ,945 ,569 ,821 445 120,,565 83,,451 135,,770 98,,656 134 ,544 84 ,655 144,,150 94,,261 32 4,,902 4, 714 5, 145 5,,270 5, 048 4,,324 33 11,808 10, 336 12, 485 13,835 14, 599 12, 643 25, 511 34 35 36 37 38 -260, 101 -45,517 -215,279 559 136 -267, 740 -48,273 -220, 214 611 136 -271, 913 -50,838 -221,882 670 137 -278, 646 -53, 698 -225,801 716 137 -281, 557 -56, 151 -226, 314 768 140 -287, 799 -59, 987 -228, 777 817 148 -306, 187 -64, 909 -242, 304 871 155 39 11, 928 10,280 13, 332 15, 182 17, 069 19, 648 19,879 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held ( 7 H 8 ) -Pension fund reserves 20 21 22 23 24 313,455 226,190 652,784 Nonfarm noncorp. business Farm business Nonfinancial corps. 25 26 27 134 ,401 91 ,489 165 ,020 122,,108 140,049 99,519 185,427 144,897 Pvt. finan. inst. net assets Sector net worth •Pension fund reserves -Corp. equities held (7)(8) 28 29 30 31 5,,238 6,452 • Foreign corporate stock included in lines 23 8 31 32 - Foreign holdings of U.S. 29,517 corporate stock 33 -319,604 Public sector net assets -68,942 State and local governments -251,728 U.S. government 900 Sponsored credit agencies 166 Monetary authority 34 35 36 37 38 26,464 Unallocated financial assets 39 (1) Located within U.S. geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. (7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. Data are in millions of dollars. 18 October 1990 National Net Worth National Net Worth Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1970 1 Domestic net worth (1) (2 ) Reproducible assets (3) 2 3 Residential structures Nonres. plant 8 equip. 4 5 Inventories 6 Consumer durables 7 Land at market value + Foreign assets owned by U.S. residents U.S. dir. invest. abroad Fgn. corporate equities Other financial claims 11 owned by U.S. residents 8 9 10 - U.S. assets owned by foreigners Fgn. dir. invest. in U.S. U.S. corporate equities Other financial claims 15 owned by fgn. residents 12 13 14 16 + U.S. monetary gold 8 SDRs 1971 1974 1975 1976 3396,,240 2707,,998 964,,656 1033,-065 285,,593 424, 684 688,,242 3907 ,803 3090 ,676 1109 ,890 1157 ,661 352 ,625 470 ,500 817 ,127 4580,,678 3652,,281 1262,,175 1422,•612 423 315 544,,179 928,,397 4982 ,303 3959 006 1363,500 1570 ,979 428 .828 595, 699 1023,,297 159-171 7',,388 7,641 173,666 81,503 10,537 190,262 91,715 10,026 215,596 100,364 9,011 244,084 114,140 9,585 283,919 8 126,583 9 9,453 10 98,968 13,270 27,209 127,372 13,914 30,811 151 ,585 14 ,868 39,059 157,966 20,556 33,516 172,778 25,144 24,221 183,820 27,662 35,313 211,913 12 30,770 13 42,949 14 55,505 58,489 82,647 103,894 123,413 120,845 11,859 11 ,923 11 ,400 13,818 14,026 13,934 2652 ,588 2092 ,814 731 ,905 784 ,783 232 ,396 343 ,730 559,,774 2828 728 2250,,089 772 ,214 865 ,131 240 , ,310 372,,434 578,,639 141,475 63,704 6,953 147,041 70,269 6,573 94,084 11,818 26,761 3079 •755 2462 • 515 860,,459 950 ,521 257,,804 393,,731 617,,240 1973 = Total consolidated national 17 net assets (4) 5558 ,191 4358 ,239 1532 ,333 1709 ,871 463 ,282 652 ,753 1199,,952 1 2 3 4 5 6 7 5644,190 17 National net worth, by sector (4): 18 Total, all sectors (5) 2711,,838 2888,,724 3122 ,954 3430, 766 3953 ,917 4637 ,522 5056 ,501 5644,,190 18 19 Private net worth, consol. (6) 3022,,367 3219,,261 3486 ,687 3817, 485 4337 ,527 5053 ,232 5559,,989 6210,,793 19 20 21 22 23 24 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held ( 7 X 8 ) -Pension fund reserves 1589,,463 3037,,233 554 .036 699,,111 194,,623 1699,.146 3168 ,307 573,,218 682,,652 213,,291 1852 ,502 3494 , ,515 616 ,529 777 ,960 247,,524 2019, 085 3859, 952 680, 933 861 , ,986 297, 948 2242 4025 817 663 302 214 ,356 ,098 ,561 ,483 2528 ,711 4204,,078 908,,414 459 ,864 307 ,089 2759,,360 4751 ,365 991 ,231 598 ,611 402 ,163 3077,, 187 20 5371 • 427 21 1120 ,322 22 712,,879 23 461 ,039 24 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 329,,910 234,,529 712,,919 343,,463 240,,644 767,,009 369 ,108 259 ,344 836 ,812 400, 412 294,,290 911 ,512 462 ,206 371 ,930 1019 ,035 516 ,241 411 379 1303,,891 552 ,671 461 ,531 1450 ,766 616 ,224 25 532 ,835 26 1601 ,901 27 28 29 30 31 Pvt. finan. inst. net assets Sector net worth •Pension fund reserves -Corp. equities held (7 ) (8 ) 155, 546 101 ,404 , 194,,623 140,,481 168, 999 105,,220 213,,291 149,,512 168 ,921 116 ,367 247 524 194 ,970 192,, 186 131 ,330 , 297 ,948 237 • 092 242 ,142 144 ,008 302 ,483 204 ,349 293,,010 143,,547 307 ,089 157 ,626 335 ,661 149 ,059 402 ,163 215 ,561 382 , 64 6 28 171,,232 29 461 ,039 30 249 ,625 31 6,,953 6,,573 7 ,641 10 ,026 9 ,011 9,,585 9 ,453 32 32 + Foreign corporate stock included in lines 23 8 31 - Foreign holdings of U.S. 33 corporate stock 34 Public sector net assets 35 State and local governments 36 U.S. government 37 Sponsored credit agencies 38 Monetary authority 39 Unallocated financial assets 26,,761 27,,209 30 ,811 -320,,663 -76,,250 -245,,542 950 179 -341,,316 -85,,173 -257,,352 1 ,010 199 -373 ,065 -93 ,851 -280 ,587 1 ,133 240 29,,942 31 ,415 32 ,502 (1) Located within U.S. geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3 ) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. (7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. Data are in millions of dollars. 10, 537 39, 059 -389, 058 -92,• 036 -298, 597 1,,307 268 30,,861 33,,516 -390,,628 -86,,881 -305,,715 ,654 314 30,,508 24,,221 -404,•911 -89,•923 -317 • 846 2,,462 396 4,,411 35,,313 —48 6,•480 -95,,250 -394,,530 2,,847 453 8 ,720 42,,949 33 -546,,922 -95,,682 -454,,988 3,,230 518 34 35 36 37 38 13,,815 39 October 1990 National Net Worth National Net Worth 5 Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1977 1978 1979 1980 1981 1982 1983 1 2 3 4 5 6 7 6319 ,728 4912 ,132 1785 ,154 1895 ,798 505 ,683 725 ,497 1407 ,596 7404 ,909 5703 ,492 2095 ,090 2199 ,699 588 ,241 820 ,462 1701 ,417 8497 ,439 64 66 ,637 2407 ,398 2459 ,108 674 ,837 925 ,294 2030 ,802 9578,,943 7243,,113 2676,,405 2807,,427 739,,312 1019,,969 2335,,830 10604,,750 7989,>046 2928,,454 3175,,130 788,,988 1096,,474 2615,,704 10824 ,436 8155 ,359 2893 ,937 3348 ,274 771 ,459 1141 ,689 2669 ,077 11415,,813 8557,,227 3112,,749 3450,,406 787,,190 1206,,882 2858,,586 8 9 10 305 ,473 135 ,382 10 ,110 371 ,780 151 ,761 11 ,236 428 ,439 178 ,240 14 ,834 492 ,367 208,,467 19 ,166 538,,318 224,,826 17,,360 554 ,281 213 ,347 18 ,568 575,,132 215,,934 25,,864 11 159 ,981 208 ,783 235 ,365 264,,734 296,,132 322 ,366 333,,334 1984 12013,,857 Domestic net worth ( 1 M 2 ) Reproducible assets (3) 9082,,676 Residential structures 3308 ,357 Nonres. plant & equip. 3630,,176 858 ,166 Inventories Consumer durables 1285,,977 2931,, 181 Land at market value + Foreign assets owned by U.S. 569 ,952 residents U.S. dir. invest, abroad 221,,941 Fgn. corporate equities 27 ,017 Other financial claims owned by U.S. residents 320,,994 12 13 14 247 ,877 34 ,595 39 ,779 310 ,186 42 ,471 42 ,097 346 ,298 54 ,462 48 ,318 401 ,034 83 ,046 63 ,444 413,,363 108,,714 63 ,266 432 ,295 124 ,677 75 ,154 499 ,607 137 ,059 95 ,232 589,,762 164 ,581 94 ,931 15 173 ,503 225 ,618 243 ,518 254 ,544 241,,383 232 ,464 267,,316 330 ,250 16 14 ,348 13 ,229 13 ,896 13 ,770 15 ,246 16 ,398 16,,146 - U.S. assets owned by foreigners Fgn. dir. invest. in U.S. U.S. corporate equities Other financial claims owned by fgn. residents 16 ,737 + U.S. monetary gold & SDRs 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 6391 ,672 7479 ,732 8593 ,476 9684,,046 10744,,951 10962 ,820 11507,,484 = Total consolidated national net assets (4) 12010 ,784 18 6391 ,672 7479 ,732 8593 ,476 9684,,046 10744,,951 10962 ,820 11507,,484 National net worth, by sector (4): 12010 ,784 Total, all sectors (5) 19 7004 ,384 8134 ,364 9301 ,037 10475,,481 11626,, 148 12004 ,296 12777 ,473 13505 ,260 Private net worth, consol. (6) 19 20 21 22 23 24 3475 ,252 5927 ,291 1276 ,117 668 ,470 507 ,452 3974 ,245 6762 ,379 1522 ,524 663,873 601 ,737 4475 ,974 7772:,055 1784 ,529 812 ,156 699 ,396 4946,,840 8936,,149 2037,,217 1112,,450 839,,642 5461 , ,482 9685 , ,760 2261,, 186 1052,,356 910,,736 5654 ,067 10142 ,499 2232 ,783 1174 ,362 1081 ,287 6183 ,327 11089,,055 2301,629 1324 ,017 1280,,082 6673 ,062 11669 ,891 2272 ,334 1322 ,463 1402 ,032 25 26 27 726 ,682 582 ,611 1768 ,486 875 ,600 68 7 ,199 2059 ,056 1038 ,275 794 ,000 2365,502 1216,,648 873,,950 2708,,821 1454,,397 858 ,930 3037,,291 1469 ,118 811 ,712 3153 ,560 1532 ,083 817 ,463 3238 ,507 28 29 30 31 451 ,353 185 ,662 507 ,452 241 ,761 538 .264 215 ,093 601 ,737 276 ,566 627 ,286 246 ,950 699 ,396 319 ,060 729 ,222 285,952 839 ,642 396,,372 814,,048 292,,350 910,,736 389,,038 915 ,839 305 ,773 1081 ,287 471 ,221 32 10 ,110 11 ,236 14 ,834 19,,166 17,,360 18 ,568 20 21 22 23 24 1589 ,108 722 ,324 3335 ,652 Nonfarm noncorp. business Farm business Nonfinancial corps. 25 26 27 1006 ,093 328 ,332 1280 ,082 602 ,321 1185 ,114 386 ,919 1402 ,032 603 ,837 Pvt. finan. inst. net assets 28 Sector net worth 29 •Pension fund reserves 30 -Corp. equities held (7) (8) 31 25 ,864 27 ,017 - Foreign holdings of U.S. corporate stock 94 ,931 33 -1298 ,828 Public sector net assets State and local governments -74 ,750 U.S. government -1234 ,653 Sponsored credit agencies 9 ,436 Monetary authority 1 ,139 34 35 36 37 38 -127,,734 Unallocated financial assets 39 39 ,779 42 ,097 48 ,318 63,,444 63,,266 75 ,154 95,,232 34 35 36 37 38 -589 ,401 -81 ,979 -511 ,684 3 ,677 585 -624 ,795 -76 ,652 -553 ,395 4 ,571 681 -644 ,487 -69 ,703 -580 ,902 5 ,405 713 -698,,630 -71,,999 -633,,626 6,,179 816 -784,,286 -81,,265 -711,,038 7,,095 922 -937 ,241 -86 ,020 -860 ,593 8 ,376 996 -1122,,363 -82 ,059 -1050 ,125 8 ,773 1,,048 39 6 ,358 1 ,024 -29 ,590 -48,,527 -51,,005 -47 ,649 -78,,258 + Foreign corporate stock included in lines 23 8 31 (1) Located within U.S . geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. (7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. 18 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held (73(8) -Pension fund reserves 33 Data are in millions of dollars. 17 32 October 1990 National Net Worth National Net Worth Consolidated National Net Assets with Tangibles at Current Cost Year-End Outstandings Year-End Outstandings 1985 1 Domestic net worth ( 1 H 2 ) 2 Reproducible assets (3) 3 Residential structures 4 Nonres. plant 8 equip. 5 Inventories 6 Consumer durables 7 Land at market value 1986 1987 1988 12529,545 9515,842 3482,951 3771,680 863-542 1397,669 3013,703 13253,048 10024,157 3686,952 3949,846 853,268 1534,091 3228,891 14241,283 10782-206 4050,130 4149-450 918,887 1663,739 3459,077 15054-407 11414,239 4234,832 4377,287 996,497 1805,623 3640,168 16017,250 12163,669 4546,042 4633,006 1050,812 1933,809 3853,581 586,918 237,671 39,292 650,699 262,353 50,013 695,109 313,012 54,670 746,279 329,478 62,733 850,762 363,304 95,840 8 9 10 724,562 184,613 124,453 944 ,436 220,412 167,815 1097,153 271,788 174,518 1296-021 328,851 199,848 1528-081 400,817 257,449 12 13 14 415-496 556,209 650,847 767,322 869-815 15 18,383 19,459 21,361 21 ,040 21,010 16 12410,284 12978,770 13860,600 14525,705 15360-941 National net worth, by sector (4): 12410,,284 18 Total, all sectors (5) 12978, 770 13860 ,600 14525, 705 15360 ,941 19 Private net worth, consol. (6) 14111 • 254 14966.-893 16063 ,010 17015:-003 18072 ,635 19 7146 ,214 12726:,546 2245 ,791 1681 480 1653,-061 7790,,286 13796, 422 2298,,363 1845, 548 1862,,225 8516 ,620 14636 ,945 2414 ,953 1691 ,928 2013 ,444 9133, 206 15715 603 2492, 752 1815. 259 ,386 2274 , 9863 ,915 17259 ,910 2630 ,490 2136 ,926 , 2628 ,579 20 21 22 23 24 + Foreign assets owned by U.S. residents U.S. dir. invest, abroad Fgn. corporate equities Other financial claims 11 owned by U.S. residents 8 9 10 - U.S. assets owned by foreigners Fgn. dir. invest, in U.S. U.S. corporate equities Other financial claims 15 owned by fgn. residents 12 13 14 16 + U.S. monetary gold 8 SDRs 17 = Total consolidated national net assets (4) 18 20 21 22 23 24 Household net assets Sector net worth -Equity in noncorp. bus. -Corp. equities held (7)(8) -Pension fund reserves 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 1633 090 645,,525 3385,,703 1707,,711 620,,014 3446 ,551 1811 ,797 638 ,487 3583 ,685 1840, 294 688 ,260 , 3683 .724 1949 235 720 ,410 3774 ,060 25 26 27 28 29 30 31 Pvt. finan. inst. net assets Sector net worth •Pension fund reserves -Corp. equities held (7)(8) 1300,,722 425 ,437 1653 ,061 777,,776 1402,,331 473 856 1862 ,225 933 ,750 1512 ,421 497 ,411 2013 ,444 998 ,434 1669 519 521 ,586 ,386 2274 , 1126 ,453 1765 ,015 569 ,081 2628 ,579 1432 ,645 29 30 31 39 ,292 50,,013 54 ,670 62,,733 95 ,840 32 • Foreign corporate stock included in lines 23 8 31 - Foreign holdings of U.S. corporate stock 33 34 Public sector net assets State and local governments 35 U.S. government 36 Sponsored credit agencies 37 Monetary authority 38 39 Unallocated financial assets 124 ,453 167 ,815 174 ,518 199 ,848 -1497 ,671 -60 ,394 -1445 ,989 7 ,577 1 ,135 -1727 ,102 -52 ,430 -1683 ,058 7 ,165 1,,221 -1911 ,533 -60 ,206 - 18b0 ,076 7 ,456 1 ,293 -2124:,886 -78 ,797 -2056 ,229 8 .701 1,,439 -118 ,138 -143 ,219 -171 ,029 -227,,297 (1) Located within U.S. geographical boundaries. (2) Excludes tangible assets of federal and state and local governments. (3) At current cost. (4) Owned by U.S. residents. (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. (7) Includes holdings of foreign shares. (8) Excludes mutual fund shares. Data are in millions of dollars. 257 ,449 -2310 ,802 -88 ,932 -2232 ,984 9 -546 1,• 568 -239 ,283 34 35 36 37 38 October 1990 Net Foreign Assets Net Foreign Assets 7 U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings 1949 1948 U.S. Net Foreign Assets 3 4 13,501 14,188 16,004 U.S. net foreign assets 27,769 28,843 35.786 -248 68 937 51 1,293 10 1,462 10 1,446 57 1,426 91 1,462 75 5 6 7 942 5,032 2,913 1,001 7,995 2,821 972 12,289 2,800 944 13,712 2,880 708 13,919 2,871 1,175 14,038 3,122 1,390 14,679 3,399 1,459 15,140 3,426 8 9 489 36 147 306 822 49 490 283 992 100 385 507 1,232 92 587 553 946 80 328 538 664 160 302 202 817 326 355 136 855 279 279 297 20 1,610 36 4,316 74 8,423 69 9,531 58 10,044 119 10,133 177 10,286 157 10,702 16 36 363 32 324 27 406 24 428 26 423 32 413 35 455 36 482 17 18 19 20 21 9,438 635 402 7,227 1,174 9,099 635 212 7,227 1,025 10,197 635 324 8,366 872 11,358 635 227 9,625 871 12,295 635 287 10,700 673 15,447 635 322 11,788 2,702 15,259 635 336 12,979 1,309 17,132 635 337 14,721 1,439 23 24 25 2,677 1,578 422 2,280 1,582 241 1,718 1,564 334 2,199 1 ,585 513 1,988 1,727 848 2,035 1 ,954 1,073 1,700 1,666 1,676 1,950 1,807 1,758 2,700 3,119 2,574 2,574 2,690 2,387 2,100 2,100 2,480 3,044 2,700 2,700 2,305 3,145 2,800 2,800 2,490 3,371 2,900 2,900 2,925 4,819 4,300 4,300 3,450 4,894 4,278 4,278 3,705 5,136 4,468 4,468 503 229 280 232 327 317 323 359 10 11 12 13 14 15 Foreign assets owned by U.S. residents 2 U.S. official fgn. exchange & net IMF position U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 Bank To To To loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Commercial paper 12 Acceptance liabs. to banks 13 U.S. government loans 14 Security debt Trade debt 15 16 Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 19,782 U.S.assets owned by foreigners 22 26 27 28 29 30 31 32 33 34 64 42 35 36 104 409 109 405 92 399 70 365 73 321 87 352 84 376 37 38 39 5,312 2,507 2,805 5,417 2,503 2,914 4,034 2,603 1,431 4,086 2,787 1,299 837 941 4,132 3,391 741 4,759 3,658 1 ,101 4,927 3,945 982 U.S. checkable dep. U.S. time deposits Net interbank claims 23 24 25 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper 26 27 28 29 30 31 32 33 34 Security credit Trade credit 35 36 Miscellaneous fgn. assets Direct investment in U.S. Other 37 38 39 CI) Corporate bonds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. October 1990 Net Foreign Assets Net Foreign Assets 8 U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 1957 1958 1959 1960 U.S. Net Foreign Assets 1 U.S. net foreign assets 17 ,210 16 ,354 17 ,142 20 ,397 24 ,874 25 ,991 25 ,676 28 ,659 1 Foreign assets owned by U.S. residents 38 ,021 40 ,283 43 ,049 49 ,005 53 ,608 58 ,383 62 ,606 67 ,514 2 1 ,367 114 1 ,185 158 1 ,044 129 1,,608 138 1 ,975 131 1 ,958 149 1 ,997 132 1 ,555 148 3 4 1 ,868 16 ,554 3 ,264 2 ,439 16 ,579 3 ,071 2,,625 17, 446 3,,381 2 ,233 18 ,763 3,,816 3 ,095 20 ,765 4 ,734 3 ,689 21 ,436 5 ,207 3 ,984 23 ,215 5 ,784 5 6 7 727 223 266 238 1 ,196 422 449 325 1 ,413 427 458 528 1,,789 500 579 710 2 ,106 678 569 859 2 ,647 892 656 1 ,099 2 ,861 888 722 1 ,251 3 ,010 8 861 9 765 10 1 ,384 11 197 12 ,030 271 11 ,823 310 11 ,785 477 11,,799 688 12 ,153 612 12 ,772 558 12 ,810 12 1 ,193 13 13 ,228 14 36 463 66 532 66 586 60 728 60 816 77 794 87 877 84 15 1 ,641 16 18 ,444 635 305 16 • 253 1.,251 19 ,920 635 412 1 7,631 1,,242 22 ,206 • 635 723 1 9,395 ! 1,,453 26, 400 670 1,,266 22,.505 1, 959 29,• 630 670 1, 845 25,,394 1,,721 31 ,545 670 2 ,139 27 ,409 1,,327 34 ,388 670 2 ,382 29 ,827 1 ,509 36 ,887 824 2 ,910 31,,865 1 ,288 , 20 ,811 23,,929 25,,907 28, 608 28,,734 32 ,392 36 ,930 38, 855 22 1,,708 2 ,900 ! 1 ,729 , 1 ,532 , 2,,799 1,,846 1,,753 2,,657 2, 196 2,,102 2,,533 1 ,959 2,,006 3 ,414 2 ,111 2,,140 2,,575 2,,132 2,,122 23 2 ,859 24 2 ,960 25 5 ,254 6 ,430 , 5,,466 5i ,4 66 6,,575 6 ,676 5,,803 5 ,803 6,,961 7,,261 6, 089 6,,089 6 ,091 7 ,475 5 ,930 5 • 124 806 591 8 ,305 7 ,523 6 ,035 4 ,429 1 ,606 , 645 9 ,363 11 ,706 10,,360 7,,954 2 ,406 589 2 3 4 U.S. official fgn. exchange 8 net IMF position U.S. private deposits 5 6 7 Foreign corporate equities Credit market instruments Corporate bonds 8 9 10 11 Bank To To To loans n.e.c. foreign official foreign banks other foreign 12 13 14 Commercial paper Acceptance liabs. to banks U.S. government loans 15 16 Security debt Trade debt 17 18 19 20 21 Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 22 U.S.assets owned by foreigners 23 24 25 U.S. checkable dep. U.S. time deposits Net interbank claims 26 27 28 29 30 31 32 33 34 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds CI) Loans to U.S.nonbank borr. Open market paper 35 36 Security credit Trade credit 37 38 39 Miscellaneous fgn. assets Direct investment in U.S. Other 1 , 329 16 ,268 3 ,314 , 98 1 ,4 2 ,408 1 > 682 - 374 380 434 501 401 584 439 671 954 843 757 26 27 28 29 30 31 32 33 1,,291 34 76 367 101 329 84 374 86 481 92 566 119 500 107 664 112 35 787 36 5, 478 .633 4i 845 6 ,021 5, 076 945 7, 213 5, 459 1..754 7,,916 5,,710 2, 206 8,,414 6, 115 2,,299 8, 243 6, 604 1,,639 8,,103 37 6,,910 38 l!,193 39 3 ,650 • 5 ,810 5 ,035 5 ,035 5,• 320 4! ,251 1 ,069 , (1 ) Corporate bonds include net issues by Netherlands Antilies subsidiarie U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. 17 18 19 20 21 9 ,302 12,,610 10,,651 8 ,609 2,,042 668 October 1990 Net Foreign Assets Net Foreign Assets 9 U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings 1961 1962 1963 1964 1965 1966 1967 1968 U.S. Net Foreign Assets 44,,680 U.S. net foreign assets 1 31,,041 34, 793 35, 931 41, 666 46, 569 51, 629 43, 397 2 74,,517 78, 836 85, 556 96,,791 103,,882 110, 319 121,,158 132,,420 3 4 1,,806 236 1,,163 790 1,,247 731 1,,201 1,,097 1,,644 781 1, 647 885 2,,765 1,,055 4,,818 1,,587 5 6 7 4,,902 25,,456 6,,221 4,,714 27,,544 7,,215 5,,145 30,,794 8,,208 5,,270 34,,995 8,,675 5,,048 37,,452 9,,135 4,,324 39,,454 9,,870 5,,238 43,,337 11,,086 6,,452 46,,063 12,,170 8 9 10 11 3,,740 988 1,,013 1,,739 4,,153 1,,033 1,,246 1,,874 4,,785 914 1,,412 2,,459 6 ,512 939 1 ,968 3 ,605 7 ,101 1 ,064 2,,118 3 ,919 7,,051 960 2 ,249 3,,842 6,,695 975 1,,847 3,,873 6 ,296 774 1,,907 3 ,615 12 13 14 1 ,788 13,,707 1,,752 14,,424 2,,225 15,,576 2 ,621 17 ,187 2 ,501 18 ,715 2 ,540 19 ,993 3,,013 22,,543 2 ,854 24 ,743 15 16 121 1 ,710 85 2,,219 1,,841 108 91 2 ,606 119 2 ,550 128 2 ,883 298 3,,398 508 3 ,797 17 18 19 20 21 40 ,286 995 3 ,171 34 ,717 1 ,403 42,,321 ,117 3 ,416 37 ,276 512 45 ,690 1 ,179 3 ,863 40 ,736 -88 51 ,531 1 ,229 3 ,882 44 ,480 1 ,940 56 ,288 1 ,290 3 ,898 49 ,283 1 ,817 60 ,998 1 ,290 4 ,163 51 ,007 4 ,538 65 ,067 1 ,373 3 ,953 55 ,329 4 ,412 69 ,195 1 ,510 3 ,890 58 ,547 5 ,248 22 43,,476 44,,043 49, 625 55, 125 57,,313 58, 690 77, 761 87,,740 U, S.assets owned by foreigners 23 24 25 3,,098 2,,911 3,,087 3,,233 3,,409 2,,981 3,,499 4,,260 3,,233 4,,458 5,,515 3,,717 4,,583 6,,081 3,,830 4,,963 6,,413 6,,693 5,,290 7,,679 7,,259 5,,851 7,,409 9,,404 11 ,808 13 ,064 11,,035 8 ,842 2 ,193 669 10,,336 14,,796 12,,715 10,,251 2 ,464 694 12,,485 15,,893 13,,705 11,,066 2,,639 751 13,,835 16,,908 14,,329 11,,498 2,,831 959 14,,599 17,,194 14,,400 11,,357 3,,043 812 12,,643 16,,476 12,,832 9,,830 3,,002 1,,432 25,,511 18,,806 15,,255 12,,091 3,,164 1,,304 29,,517 19,,246 14,,929 11,,322 3 ,607 1 ,491 - Foreign assets owned by U.S. residents U.S. official fgn. exchange & net IMF position U.S. private deposits Foreign corporate equities Credit market instruments Corporate bonds Bank To To To loans n.e.c. foreign official foreign banks other foreign Commercial paper Acceptance liabs. to banks U.S. government loans Security debt Trade debt Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other U.S. checkable dep. U.S. time deposits Net interbank claims 23 24 25 26 27 28 29 30 31 32 33 34 1 ,360 1,,387 1 ,437 1,,620 1,,982 2,,212 2,,247 2 ,826 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper 35 36 149 1 ,036 112 1 ,078 109 1,,470 116 1 ,841 158 2,,082 175 2,,668 311 3,,332 636 4 ,789 Security credit Trade credit 35 36 37 38 39 8 ,323 7 ,392 931 8 ,098 7 ,612 486 8 ,676 7 ,944 732 8 ,735 8 ,363 372 8,,786 8 ,797 -11 8 ,659 9 ,054 -395 9 ,573 9 ,923 -350 10 ,888 10 ,815 73 Miscellaneous fgn. assets Direct investment in U.S. Other 37 38 39 26 27 28 29 30 31 32 33 34 - (1) Corporate bonds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. October 1990 Net Foreign Assets Net Foreign Assets 10 U.S. and Foreign Assets Outstanding Year-End Outstandings Yeai—End Outstandings 1975 1976 U.S. Net Foreign Assets 1 U.S. net foreign assets 47 ,391 48 ,073 31 ,799 22 ,081 32 ,296 42 ,818 60 ,264 72 ,006 1 Foreign assets owned by U.S. residents 141 ,475 147 ,041 159 ,171 173 ,666 190 ,262 215 ,596 244 ,084 283 ,919 2 5 ,105 1 ,173 2 ,564 798 865 1 ,234 706 2 ,172 560 3 ,329 1 ,857 4 ,946 2 ,292 5 ,772 4 ,754 7 ,441 3 4 6 ,953 49 ,245 13,,198 6 ,573 52 ,051 14 ,072 7 ,641 56 ,573 15 ,012 10 ,537 61 ,120 16 ,042 10 ,026 67 ,416 17 ,000 9 ,011 81 ,234 19 ,372 9 ,585 95 ,555 26 ,540 9 ,453 116 ,022 35 ,070 5 6 7 5 ,824 623 2 ,031 3,,170 7 ,291 806 2,,372 4,.113 10 ,389 1 ,002 3 ,528 5 ,859 13,,104 ,440 5.,128 6,,536 17,,760 1,,705 8 ,244 7,,811 21 ,619 1,,964 9,,335 10,,320 28 ,395 8 2 ,855 9 13 ,534 10 12 ,006 11 2 3 4 U.S. official fgn. exchange 8 net IMF position U.S. private deposits 5 6 7 Foreign corporate equities Credit market instruments Corporate bonds 8 9 10 11 Bank To To To loans n.e.c. foreign official foreign banks other foreign 12 13 14 Commercial paper Acceptance liabs. to banks U.S. government loans 15 16 Security debt Trade debt 17 18 19 20 21 Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 6,,029 765 2,• 095 3i .169 - - - - - 3,.169 26, 849 3,.968 28,,187 4= .270 30,.000 3,,226 31,,463 4, 156 33, 156 181 11,,237 32,.684 559 11,.147 35, 690 1 ,282 ; 12 12,,358 13 38,,917 14 278 4, 618 279 5,.581 314 6, 107 405 6,.574 231 8, 451 193 11, 537 319 12,• 202 15 12,.519 16 74, 103 1. 694 3,801 63, 704 4, 904 79,.195 1. 929 3,817 70, 269 3,• 180 86, 437 2, 181 3, 635 76, 388 4, 233 92,.152 2,.451 3, 469 81 •503 4,.729 100, 249 2, 799 4, 072 91, 715 1, 663 106,818 3, 445 3, 531 100, 364 •522 118, 359 4, 119 1, 995 114, 140 -1,895 133, 730 5, 207 1 ,870 126, 583 70 17 18 19 20 21 22 U.S.assets owned by foreigners 94 ,084 98 ,968 127 ,372 151 ,585 157 ,966 172 ,778 183 ,820 211 ,913 22 23 24 25 U.S. checkable dep. U.S. time deposits Net interbank claims 6 ,175 8 ,789 16 ,844 6 ,696 7 ,125 10 ,456 6 ,503 7 ,454 5 ,846 8 ,270 10 ,580 6 ,787 11 ,165 13 ,392 1,,597 13 ,991 21 ,123 362 13 ,675 ,579 - 9 ,497 16 ,870 20 ,680 -15 ,447 25 26 27 28 29 30 31 32 33 34 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper 26 ,761 18 ,775 12 ,928 8 ,979 3 ,949 2,,027 27 ,209 29 ,749 22,,744 18,,418 4,,326 2,,698 30 ,811 56 ,475 49,,337 44,,988 4,,349 2,,990 39 ,059 64 ,803 57,,656 53,,458 4,,198 3,,061 3 ,820 4,,307 4,,148 4,,086 500 33 ,516 65,,100 57,,551 54,,099 3,,452 3,,130 32 4,,387 525 24 ,221 70 ,084 61 ,051 58 ,271 2,,780 3,,980 253 4,,800 450 35 ,313 77 ,991 67 ,793 63 ,553 4 ,240 4,,573 325 5 ,300 375 42 , 949 91 , 156 79 ,598 72 ,572 7 ,026 5,,463 495 5,.600 34 35 36 Security credit Trade credit 434 5,,830 349 7, 388 311 7,.245 366 8,,242 333 10,.214 293 12,,360 364 14,,827 35 18,894 36 37 38 39 Miscellaneous fgn. assets Direct investment in U.S. Other 10,,476 11,,818 -1.,342 9, 996 13, 270 -3, 274 12, 727 13, 914 -1, 187 13, 478 14, 868 -1, 390 22, 149 20, 556 1, 593 29,,819 25,-144 4,,675 28,,118 27, 662 456 36, 436 37 30, 770 38 5, 666 39 - (1) Corporate bpnds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. October 1990 Net Foreign Assets Net Foreign Assets 11 U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings U.S. Net Foreign Assets 1 57 ,596 61,,594 82,,141 91,,333 124 ,955 121,,986 75 ,525 2 305,,473 371,,780 428,,439 492,,367 538 ,318 554,,281 575 ,132 569,,952 3 4 4,,969 8,,756 5,,421 17,,131 5,,060 26,,913 12,,986 31,,392 14 ,829 41 ,811 17,,560 46,,312 17 ,601 47 ,591 18,,197 41,,806 5 6 7 10,,110 129,,422 40,,121 11,,236 157,,619 44,,098 14,,834 172,,917 47,,799 19,,166 197,,217 49,,001 17 ,360 220 ,655 54 ,488 18,,568 210,,404 61,,102 25 ,864 227 ,714 64 ,182 27,,017 235,,489 67,,994 8 9 10 11 31,,449 2,,937 16,,184 12,,328 49,,940 5,,167 25,,707 19,,066 52,,994 7,,307 21,,622 24,,065 64,,774 11,,851 26,,300 26,,623 67 ,801 12 ,621 21 ,837 33,,343 33,,785 5,,435 15,,055 13,,295 37 ,408 8 ,475 14 ,151 14,,782 30,,791 7,,602 11,,004 12,,185 Bank To To To 12 13 14 1,,847 14,,212 41,,793 2,,880 15,,030 45,,671 4,,553 18,,623 48,,948 6,,955 22,,714 53,,773 10 ,829 29 ,636 57 ,901 15,,054 38,,153 62,,310 21 ,540 38 ,031 66 ,553 27,,721 39,,000 69,,983 Commercial paper 12 Acceptance liabs. to banks 13 U.S. government loans 14 15 16 13,018 18,045 20,223 25,583 26,264 22,356 21,413 19,780 17 18 19 20 21 139,198 5,956 1,795 135,382 -3,935 162,328 6,581 1,948 151,761 2,038 188,492 7,529 1,946 178,240 777 206,023 8,250 1,745 208,467 -12,439 217,399 9,300 1,476 224,826 -18,203 239,081 10,574 1,700 213,347 13,460 234,949 11,261 1,677 215,934 6,077 227,663 12,900 2,012 221,941 -9,190 22 247 ,877 310 ,186 346,,298 401 ,034 413,,363 432,,295 499,,607 589,,762 U.S.assets owned by foreigners 23 24 25 19 ,270 21,,006 -16,,367 19 ,022 22 ,151 - 9 ,955 23,,445 24,,607 9,,469 23 ,462 25 ,821 -17,,119 19,,677 28,,091 -54,,954 16,,017 34,,904 -87,,930 17,,494 35,,418 -75,,461 19,,542 39,,978 -73,,177 U.S. checkable dep. U.S. time deposits Net interbank claims 26 27 28 29 30 31 32 33 34 300 39,,779 129 ,253 113 ,349 105 ,386 7 ,963 9 ,259 645 6 ,000 2 ,426 42 ,097 156 ,992 138 ,429 128 ,511 9 ,918 11,,197 901 6 ,465 4,,113 48,,318 147,,067 121,,940 106,,640 15,,300 13,,827 2,,888 8,,412 4,,395 63 ,444 171 ,268 135,,750 118,,189 17,,561 21,,985 4,,199 9,,334 4,,404 63,,266 196,,884 145 ,337 125 ,130 20,,207 30,,411 13,,095 8,,041 5,,986 75,,154 223,,173 160,,253 132,,587 27,,666 40,,979 15,,612 6,,329 6 ,468 95,,232 244,,130 173,,176 136,,987 36,,189 45,,543 18,,290 7,,121 6,,567 94,,931 310,,248 210,,281 144,,665 65,,616 60,,357 31,,339 8 ,271 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper 35 36 20,,767 24 ,896 25,,150 28,,648 28,,441 28,,474 27,,124 28,,631 37 38 39 33 ,869 34 ,595 -726 52 ,557 42,,471 10 ,086 64,, 129 54,,462 9,,667 101,,115 83 ,046 18,,069 127,,554 108,,714 18,,840 136,,517 124,,677 11,,840 149,,202 137,,059 12,,143 163,,042 164,,581 -1,,539 - - - -19.810 -19,,810 U.S. net foreign assets - Foreign assets owned by U.S. residents U.S. official fgn. exchange 8 net IMF position U.S. private deposits 5 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Security debt Trade debt 15 16 Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 Security credit Trade credit Miscellaneous fgn. assets Direct investment in U.S. Other (1) Corporate bonds include net Issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. 2 October 1990 Net Foreign Assets Net Foreign Assets 12 U.S. and Foreign Assets Outstanding Year-End Outstandings Year-End Outstandings 1989 U.S. Net Foreign Assets 1 U.S. net foreign assets -137 ,644 -293 ,737 -402 ,044 -549 ,742 -677 ,319 1 Foreign assets owned by U.S. residents 586 ,918 650 ,699 695 ,109 746 ,279 850 ,762 2 24 ,808 37 ,871 29 ,058 46 ,940 24 ,439 45 ,945 27 ,108 42 ,816 53 ,599 43 ,934 3 4 39 ,292 236 ,676 71 ,787 50 ,013 238 ,323 74 ,905 54 ,670 244 ,562 82 ,286 62 ,733 253 ,885 89 ,222 95 ,840 261 ,561 94 ,506 5 6 7 2 3 4 U.S. official fgn. exchange 8 net IMF position U.S. private deposits 5 6 7 Foreign corporate equities Credit market instruments Corporate bonds 8 9 10 11 Bank To To To loans n.e.c. foreign official foreign banks other foreign 27 ,945 6 ,193 9 ,663 12:,089 26 ,915 6 ,178 10 ,699 10 ,038 23 ,309 5 ,266 7 ,821 10 ,222 21 ,509 4 ,764 7 ,821 8 ,924 21 ,367 3 ,351 8 ,568 9 ,448 8 9 10 11 12 13 14 Commercial paper Acceptance liabs. to banks U.S. government loans 33,,923 31,, 649 71,,372 37 ,407 26 ,273 72 ,823 41 ,245 27 ,253 70 ,469 49 ,943 24 ,879 68 ,332 63 ,022 19 ,560 63 ,106 12 13 14 19,,647 17 ,399 19 ,178 28 ,018 28 ,749 15 16 228,, 624 14,, 442 ,862 237,.671 -25,,351 268 ,966 15 ,924 851 262 ,353 -10,,162 306,,315 17,,159 941 313,,012 -24,,797 331 ,719 19 ,559 680 329,,478 -17,,998 367 ,079 20,,732 509 363,,304 -17,,466 17 18 19 20 21 15 16 Security debt Trade debt 17 18 19 20 21 Miscellaneous U.S. assets U.S. eq. in IBRD, etc. U.S. government deposits U.S. dir. inv. abroad (1) Other 22 U.S.assets owned by foreigners 724, 562 944,,436 1097,,153 1296,,021 1528,,081 22 23 24 25 U.S. checkable dep. U.S. time deposits Net interbank claims 21, 107 43, 686 -58, 630 23,,786 41,,027 -45,,891 22,,383 41,,952 -1,,769 21,,823 45,,006 5,,089 21,,590 43,,096 -4,,188 23 24 25 26 27 28 29 30 31 32 33 34 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) Loans to U.S.nonbank borr. Open market paper 7, 326 124, 453 379, 516 241 ,448 145, 063 96, 385 97, 068 32, 881 8, 119 10, 676 167,,815 482,,757 291, 870 178, 915 112, 955 137, 759 43, 948 9, 180 12, 902 174, 518 535, 539 323, 487 220, 548 102, 939 156, 760 45, 845 9, 447 14, 000 199,,848 628,,549 387,,572 260, 934 126, 638 175,,332 56, 856 8, 789 17,,337 257,,449 707, 872 440,,177 265,,896 174,,281 188, 266 69, 848 9,,581 26 27 28 29 30 31 32 33 34 35 36 Security credit Trade credit 29, 158 33, 067 33, 265 36, 163 37, 433 35 36 37 38 39 Miscellaneous fgn. assets Direct investment in U.S. Other 177, 946 184, 613 - 6 , 667 231, 199 220, 412 10, 787 278, 363 271, 788 6, 575 345, 543 328, 851 16, 692 447, 492 400, 817 46, 675 37 38 39 (1) Corporate bonds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents. Data are in millions of dollars. October 1990 T . . . 1 U . Asset Holding, Tangible Asset Holding, Distribution of Tangible Assets by Sector 13 !!_a_r:End_°UtStandln9s 19*5 Year-End Outstandings 1946 1947 1948 1949 1950 1951 1952 1 2 3 4 5 6 463 ,403 140 ,257 78 ,589 106 ,218 135 ,455 2 ,884 553 ,287 167 ,369 92 ,887 121 ,767 168 ,284 2 ,980 648 ,649 204 ,996 100 ,571 138 ,660 201 ,302 3 ,120 714 ,868 235 ,189 103 ,332 149 ,067 223 ,906 3 ,374 745 ,438 258 ,429 101 ,394 152 ,572 229 ,592 3 ,451 856 ,988 305 ,993 122 ,739 165 ,420 259 ,005 3 ,831 952 ,609 346 ,847 136 ,402 175 ,759 289 ,286 4 ,315 7 8 9 10 11 12 114 ,511 6 ,449 7 ,037 14 ,609 83 ,814 2 ,602 140 ,749 8 ,230 9 ,003 18 ,466 102 ,366 2 ,684 171 ,237 10 ,036 11 ,918 22 ,884 123 ,608 2 ,791 192 ,256 10 ,855 14 ,536 25 ,727 138 ,129 3 ,009 203 ,761 11 ,291 16 ,462 26 ,796 146 ,138 3 ,074 226 ,903 12 ,957 19 ,007 30 ,090 161 ,446 3 ,403 251 ,838 14 ,806 21 ,440 33 ,166 178 ,604 3 ,822 267,074 Plant and equipment CI) 15,790 Nonprofit institutions 22,750 Farm business 34,122 Nonfarm noncorp. business 190,438 Nonfinancial corporations 3,974 Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 19 135,>966 70,>169 3,,343 11,.393 48.• 088 2..973 160 ,323 85,,075 3,,807 13,,158 54,,867 3,.416 190 ,528 104 ,520 4 ,304 15,,191 62,,581 3,,932 210,,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 Residential structures (1) 182,250 Households: owner-occupants 5,077 Nonprofit institutions 19,121 Farm business 76,636 Nonfarm noncorp. business 5,069 Nonfinancial corporations Real estate invest, trusts 13 14 15 16 17 18 19 20 21 22 23 49, 870 14, 145 6, 913 28, 812 68,.938 19, 639 8, 889 40, 410 79,.877 21..038 10, 362 48, 477 85, 122 19, 304 11, 999 53, 819 77, ,084 96,,135 22,.454 13,.462 60,.219 108,.823 24,.908 14, 215 69,.700 108,003 Inventories (2) 23,307 Farm business 13,882 Nonfarm noncorp. business 70,814 Nonfinancial corporations 20 21 22 23 - 16,.664 11,,033 49, 387 1000,334 Total holdings of tangibles 373,694 Households&nonprofit insts. 136,859 Farm business 179,962 Nonfarm noncorp. business 305,321 Nonfinancial corporations 4,498 Financial institutions 1 2 3 4 5 6 24 46, 210 53, 171 65, 129 76, 254 86, 566 108, 189 124, 415 133,989 Consumer durables (households) 24 25 26 27 28 29 30 116, 846 14, 086 46, 014 36, 608 19,856 282 130, 106 17, 086 51, 087 39, 545 22, 092 296 141, 878 21, 007 52, 424 42, 833 25, 285 329 150, 564 23, 965 53, 226 45, 269 27, 739 365 154, 764 26, 002 51, 427 47, 276 29, 682 377 176, 519 30, 012 63, 341 50, 123 32, 615 428 194, 524 33, 849 71, 200 52, 981 36, 001 493 203,115 Land at market value 36,588 HouseholdsSnonprofit insts. 71,681 Farm business 55,322 Nonfarm noncorp. business 39,000 Nonfinancial corporations 524 Financial institutions 31 32 33 34 35 36 329,472 93,700 60,526 93,779 79,166 2,301 383,697 113,741 68,700 105,853 92,996 2,407 443,017 139,282 73,472 119,026 108,707 2,530 480,080 158,228 76,032 125,802 117,384 2,634 499,550 171,042 75,075 129,187 121,652 2,594 558,077 196,746 88,949 137,609 131,966 2,807 612,556 221,149 98,687 145,469 144,164 3,087 643,780 Total real estate 238,260 Households&nonprofit insts. 100,009 Farm business 149,376 Nonfarm noncorp. business 152,984 Nonfarm nonfln. corporations 3.151 Private finan. institutions 25 26 27 28 29 30 Memos CI) At current cost. (2) At year-end prices. Data are in millions of dollars. 31 32 33 34 35 36 October 1990 Tangible Asset Holdings Tangible Asset Holdings 14 Distribution of Tangible Assets by Sector Year-End Outstandings 1 Total holdings of tangibles 2 HouseholdsSnonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corporations 6 Financial institutions Year-End Outstandings 1044 ,332 397 ,837 134 ,811 184 ,512 322 ,329 4 ,843 1090 ,682 422 ,088 137 ,732 189 ,980 335 ,663 5 ,219 1176 ,832 460 ,448 142 ,431 200 ,657 367 ,243 6 ,053 1283 ,638 504 ,056 150 ,569 211 ,872 410 ,150 6 ,991 1351 ,782 526 ,747 158 ,662 219 ,296 439 ,428 7 ,649 1408 ,252 551 ,987 169 ,340 225 , 664 453 ,054 8 ,207 1476 ,172 581 ,117 175 ,951 233 ,370 476 ,794 8 ,940 1533 ,876 611 ,811 178 ,418 240 ,944 493 ,127 9 ,576 7 Plant and equipment CI) 8 Nonprofit Institutions 9 Farm business 10 Nonfarm noncorp. business Nonfinancial corporations 11 12 Financial institutions 280 ,890 16 ,502 23 ,365 35 ,264 201 ,519 4 ,240 293 ,079 17 ,577 23 ,670 36 ,426 210 ,906 4 ,500 319 ,968 19 ,639 24 ,810 40,,303 230,,029 5,,187 355 ,916 22 ,090 25 ,902 44 ,579 257 ,416 5,,929 380 ,667 23 ,677 26 ,371 46 ,993 277 ,239 6 ,387 392 ,660 25 ,029 26 ,867 48 ,120 285 ,911 6 ,733 409 ,015 26 ,594 27 ,487 50 ,098 297 ,578 7 ,258 420 ,382 28 ,148 27 ,590 51 ,270 305 ,685 7 ,689 13 Residential structures (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest, trusts 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,.359 361,,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 20 Inventories (2) 21 Farm business Nonfarm noncorp. business 23 Nonfinancial corporations 109,,088 22 1 ,000 14,,378 72,,710 106,,734 21,,200 14,,276 71,,258 113, 975 19, 900 15, 155 78, 920 122, 745 19,.900 15,.890 86,.955 126,,341 21, 200 16,.370 88,.771 126, 259 .600 16, 886 86, 773 131,,714 22,.100 16,,881 92,.733 - - - 135,,508 23, 300 16,.618 95,.590 24 Consumer durables (households) 142,,973 147,,080 157, 315 171, 877 176, 175 181,.962 189,.009 193, 656 25 Land at market value 26 HouseholdsSnonprofit insts. Farm business 27 28 Nonfarm noncorp. business 29 Nonfinancial corporations 30 Financial institutions 210, 802 39,,128 70,,295 57,.789 42, 987 603 225, 937 42,,606 73,,520 60,,799 48,,293 719 243, 147 47, 120 78, 082 64, 144 52, 935 866 271, 440 56, 293 85,.008 68, 760 60,.317 1,.062 293, 144 59, 934 91, 481 72, 591 67, 876 1, 262 316, 425 63, 799 100, 436 76, 096 74, 620 1, 474 336,.746 67, 989 106, 982 79, 686 80,,407 1, 682 358, 368 78, 103 108, 293 84, 581 85, 504 1,887 31 Total real estate 32 HouseholdsSnonprofit insts. 33 Farm business 34 Nonfarm noncorp. business 35 Nonfarm nonfln. corporations 36 Private finan. institutions 669,,316 253,,208 98 ,871 152,,559 161,,351 3,,327 707,,629 273,,181 102,.540 157,,556 170,,748 3,,604 764,,066 301,,084 108,,171 165,,439 185,,168 4,,204 830 ,752 329 ,852 116 ,116 173 ,945 205,,974 4,,865 877,,361 347,,998 122,,708 179,,663 221,,652 5,,340 922 ,170 367 ,230 131 ,529 185 ,217 232,,381 5 ,813 969,,113 389,,081 138,,360 192,,072 243,,248 6,,352 1012,,184 414,,964 139 ,693 199,,566 251,,107 6,,854 (1) At current cost. (2) At year-end prices. Data are in millions of dollars. 31 32 33 34 35 36 October 1990 Tangible Asset Holdings Tangible Asset Holdings Distribution of Tangible Assets by Sector 15 Year-End Outstandings Year-End Outstandings 1961 1962 1963 1964 1965 1966 1967 1968 2438, 517 Total holdings of tangibles HouseholdsSnonproflt Insts. 1002, 422 Farm business 262,,714 Nonfarm noncorp. business 361, 384 Nonflnanclal corporations 789, 688 Financial Institutions 22,,309 1 2 3 4 5 6 1 2 3 4 5 6 1585, 530 633, 963 184, 962 247, 608 508, 703 10, 294 1647,,147 659,,496 192,,244 257,,071 526,,992 11,,344 1711,,224 684,,885 201,,468 265,,377 547,,273 12,,221 1806, 433 727,,082 209, 964 279,,761 575,,931 13,,695 1920,,660 766,,263 226,,785 294,,810 617,,310 15,,492 2096,,101 844,,294 237,,794 319,,046 677,,631 17,,336 2228,,827 899,,889 250,,584 332,,654 726,,697 19,,003 7 8 9 10 11 12 432, 260 30, 386 27, 960 52, 717 313,,054 8,,143 449,,563 33,,032 28,,753 54,,996 323,,808 8,,974 468,,552 35,,774 29,,886 57,,649 335,,565 9,,678 494,,943 38,,729 31,,107 61,,148 353,,063 10,,896 535,,711 42,,782 33,,313 66,,192 380,,952 12,,472 590,,951 47,,686 36,,105 72,,705 420,,288 14,,167 640,,677 51,,320 38,,600 77,,454 457,,427 15,,876 709,,247 Plant and equipment (1) Nonprofit Institutions 57,,599 Farm business 41,,838 Nonfarm noncorp. business 85,,050 Nonflnanclal corporations 505,,854 Financial Institutions 18,,906 7 8 9 10 11 12 13 14 15 16 17 18 19 441,,560 318,,004 6,,564 19,,186 91,,048 6,,758 459,,106 330,,988 7,,129 19,,091 94,,537 7,,361 471,,540 339,,884 7,,513 18,,795 97 ,334 8,,014 502,,050 361,,593 8,,303 19,,129 104,,041 8,,984 526,,165 378,,819 9,,034 19,,179 109,,329 9,,804 567,,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 Residential structures (1) Households: owner-occupants 480,,332 Nonprofit institutions 12,,042 Farm business 22,,070 Nonfarm noncorp. business 139,,706 Nonflnanclal corporations 13,,580 Real estate invest, trusts 101 13 14 15 16 17 18 19 20 21 22 23 137,,164 23,,800 15 ,599 97 ,765 143 ,761 25 ,200 15 ,780 102 ,781 149 ,508 25 ,700 15 ,129 108 ,679 211,,732 Inventories (2) Farm business 29 ,100 Nonfarm noncorp. business 17 ,624 Nonflnanclal corporations 165 ,008 20 21 22 23 24 196 ,795 202 ,317 25 26 27 28 29 30 377 ,751 82 ,214 114 ,016 88 ,244 91 ,126 2 ,151 392 ,400 86 ,030 119 ,200 91 ,758 93 ,042 2 ,370 31 32 33 34 35 36 1055,,418 433,,804 145,,825 207,,341 260,,919 7 ,529 ,458 ,627 ,495 ,263 ,707 ,366 - - - " - 155,,367 24 ,500 15,,089 115 ,778 169 ,035 28 ,000 15 ,838 125 ,197 185,,170 27 ,400 16 ,329 141 ,441 197 ,377 27 ,900 17 ,102 152 ,375 212 ,801 223 ,713 236 ,061 258 ,487 283 ,210 314 ,217 Consumer durables (households) 24 408 ,823 88 ,913 127 ,087 95 ,265 95 ,015 2 ,543 430 ,360 94 ,744 135 ,228 99 ,483 98 ,106 2 ,799 453 ,688 99 ,567 146 ,293 103 ,451 101 ,357 3 ,020 494 ,015 119 ,663 154 ,278 111 ,894 105 ,011 3 ,169 511 ,183 125 ,098 163 ,567 114 ,146 105 ,245 3 ,127 535 ,490 Land at market value Households&nonprofit insts. 138 ,232 Farm business 169 ,706 Nonfarm noncorp. business 119 ,004 Nonflnanclal corporations 105 ,246 Financial institutions 3 ,302 1136,,313 468 ,326 159,,690 224 ,556 274,,676 9 ,065 1201,,953 499,,360 168,,749 237,,636 286,,135 10,,073 1271,,461 525,,906 180 ,759 250 ,257 303 ,361 11 ,178 1380,,103 581,,116 190,,738 271,,116 324,,913 12,,220 1448 ,254 611 ,614 201 ,447 281 ,664 340 ,778 12 ,751 1582,,170 Total real estate Households&nonprofit insts. 682,,810 Farm business 210,,983 Nonfarm noncorp. business 307 ,138 Nonfarm nonfin. corporations 366 ,540 Private flnan. Institutions 14 ,699 25 26 27 28 29 30 Memo: 1097 453 151 216 267 8 CI) At current cost. (2) At year-end prices. 31 32 33 34 35 36 October 1990 Tangible Asset Holdings Tangible Asset Holdings 16 Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1972 1 Total holdings of tangibles 2 Households&nonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corporations 6 Financial institutions 2652 ,588 1096 ,434 273 ,174 392 ,318 865 ,189 25 ,473 2828 ,728 1167 ,540 281 ,288 417 ,227 934 ,126 28 ,547 3079 .755 1278 ,091 303 ,422 458 ,444 1007 ,242 32 ,556 3396,240 1411,761 343,224 517,207 1087,014 37,034 3907,803 1610,115 428,741 597,266 1228,528 43,153 4580 ,678 1846 ,295 475 ,728 687 ,699 1516 ,552 54 ,404 4982 ,303 1999 ,707 534 ,159 741 ,703 1643 ,926 62 ,808 5558 ,191 2253 ,408 614 ,883 822 ,646 1795 ,527 71 ,72 7 7 Plant and equipment (1) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corporations 12 Financial institutions 784 ,783 64 ,763 45 ,609 94 ,332 558 ,356 21 ,723 865 ,131 71 ,722 49 ,228 104 ,299 615 ,283 24 ,599 950 ,521 80 ,703 53 ,641 115 ,702 672 ,219 28 ,256 1033,065 88,782 59,034 126,814 726,357 32,078 1157,661 98,473 66,380 143,735 811,430 37,643 1422 ,612 115 ,495 82 ,745 172 ,865 1003 ,704 47 ,803 1570 ,979 120 ,886 90 ,914 184 ,819 1119 ,183 55 ,177 1709 ,871 7 129 ,743 8 101 ,589 9 197 ,623 10 1217 ,926 11 62 ,990 12 13 Residential structures (1) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest, trusts 731 ,905 524 1 ,443 13,,167 23,,387 155,,010 15,,704 194 772 ,214 551 ,874 13 ,720 23,,998 165 ,106 17,,256 260 860 ,459 614 ,337 14 ,936 25 ,515 185,,471 19,,828 372 964,656 687,415 16,802 27,165 212,013 20,591 670 1109,890 791,680 19,450 29,703 246,015 22,152 890 1262 ,175 902 ,948 21 ,899 33 ,620 278 ,794 23 ,618 1 ,296 1363 ,500 978 ,640 23 ,842 35 ,656 299 ,525 23 ,680 2,,157 1532 ,333 1106 ,144 26 ,691 38 ,804 333 ,078 24 ,884 2 ,732 20 Inventories (2) 21 Farm business 22 Nonfarm noncorp. business 23 Nonfinancial corporations 13 14 15 16 17 18 19 232, 396 31, 800 18, 346 182, 250 240, 310 31, 100 19, 134 190, 076 257, 804 35, 400 21, 671 200, 733 285,593 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 20 ,21 22 23 1 2 3 4 5 6 24 Consumer durables (households) 343, 730 372, 434 393, 731 424,684 470,500 544,,179 595, 699 25 Land at market value 26 HouseholdsSnonprofit insts. 27 Farm business 28 Nonfarm noncorp. business 29 Nonfinancial corporations 30 Financial institutions 559, 774 150, 331 172, 378 124, 630 108,879 3, 556 578, 639 157, 790 176, 962 128, 688 111, 511 3, 688 617, 240 174, 384 188, 866 135, 600 114, 462 3, 928 688,242 194,078 212,725 154,366 122,787 4,286 817,127 230,012 267,158 180,207 135,130 4,620 928, 397 261, 774 296, 963 206, 440 157, 915 5, 305 1023, 297 280, 640 343, 289 230, 078 163, 816 5, 474 1199, 952 338, 077 414, 290 264, 035 177, 545 6, 005 25 26 27 28 29 30 1715,665 746,934 217,097 334,432 400,463 16,739 1820,638 788,951 224,525 354,843 433,867 18,452 2004,313 877,857 240,908 390,632 473,942 20,974 2230,695 980,222 268,703 444,125 513,962 23,683 2577,409 1132,182 329,156 515,357 574,294 26,420 2985, 631 1293, 192 369, 480 592, 280 699, 236 31, 443 3241, 238 1394, 204 420, 987 641, 967 749, 153 34, 927 3655, 121 1590, 247 499, 785 716, 372 810, 047 38. 670 31 32 33 34 35 36 31 Total real estate 32 HouseholdsSnonprofit insts. 33 Farm business 34 Nonfarm noncorp. business 35 Nonfarm nonfin. corporations 36 Private finan. institutions (1) At current cost. (2) At year-end prices. Data are in millions of dollars. 652, 753 24 October 1990 Tangible Asset Holdings Tangible Asset Holdings Distribution of Tangible Assets by Sector 17 Year-End Outstandings 1977 Year-End Outstandings 1978 1979 1980 1981 6319 ,728 2614 ,292 677 ,486 953 ,995 1993 ,945 80 ,010 7404 .909 3077 ,067 797 ,878 1136 ,511 2305 ,779 87 ,674 8497 ,439 3505 ,641 927 ,298 1353 ,885 2613 ,313 97 ,302 9578 ,943 3874 ,877 1022 ,056 1587 ,847 2983 ,280 110 ,883 7 8 9 10 11 12 1895 ,798 141 ,601 114 ,559 219 , J94 1349 ,279 70 ,965 2199 ,699 167 ,725 133 ,912 260 ,593 1557 ,408 80 ,061 2459 ,108 175 ,421 149 ,838 291 ,896 1752 ,240 89 ,713 2807 ,427 193 ,848 167,,397 336,,461 2007,,110 102,,611 3175 212 181 391 2273 116 13 14 15 16 17 18 19 1785 ,154 1296 ,125 30 ,820 43 ,801 384 ,099 27 ,591 2,• 718 2095 ,090 1527,,137 35,,898 49,,624 448,,918 32,,111 1,,402 2407 ,398 1734,,013 41,,359 54,,431 540,,884 35,,357 1,,354 20 21 22 23 505,,683 59,,300 29,,454 416,,929 588,,241 73,,700 32,,724 481,,817 674,,837 80,,700 34,,882 559,,255 1 2 3 4 5 6 10604 ,750 4257 ,978 1026 ,434 1837 ,819 3356 ,918 125 ,601 1982 1985 1984 10824 ,436 4268 ,701 984 ,468 1934 ,297 3501 ,990 134 ,980 11415 ,813 4614 ,510 992 ,121 2061 ,311 3605 ,531 142 ,340 ,130 ,434 ,202 ,737 ,365 ,392 3348 ,274 217 ,772 181 ,865 420 ,209 2403 ,043 125:,385 3450 ,406 233 ,395 184 ,328 435 ,059 2465,,263 132,,361 3630 ,176 Plant and equipment (1) 3630.176 246 ,302 Nonprofit institutions 183 ,017 Farm business 455 ,239 Nonfarm noncorp. business 2596,,068 Nonfinancial corporations 149,,550 Financial institutions 8 9 10 11 12 2676,,405 1902,,860 46,,487 59,,241 628,,290 38,,190 1,,337 2928,,454 2062,,051 50,,956 63,,118 710,,350 40,,580 1,,399 2893 ,937 2017 ,467 50 ,559 61,,872 722 ,790 39,,828 1,,421 3112,,749 2187,,547 53,,263 63,,752 765,,267 41,,587 1,,333 3308,,357 2316,,297 56,,649 65,,618 824,,875 43,,505 1,,413 Households: owner-occupants Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Real estate invest, trusts 13 14 15 16 17 18 19 739,,312 84,,500 33,,996 620,,816 788,,988 81,,554 33,,496 673,,938 771,,459 79,,248 33,,120 659,,091 787,,190 79,,365 33,,617 674,,208 858,,166 80,,860 36,,407 740,,899 Farm business Nonfarm noncorp. business Nonfinancial corporations 20 21 22 23 12013 ,857 Total holdings of tangibles 12013,857 4894 ,553 Households&nonprofit insts. 895 ,162 Farm business 2219 ,481 Nonfarm noncorp. business 3843 ,923 Nonfinancial corporations 160 ,738 Financial institutions 24 725,,497 820,,462 925,,294 1019,,969 1096,,474 1141,,689 1206, 882 1285,,977 977 Consumer durables (households) 24 25 26 27 28 29 30 1407, 596 420,,249 459,,826 321, 048 200,,146 6,,327 1701,,417 525,,845 540,,642 394,,276 234, 443 6,,211 2030, 802 629,,554 642,,329 486,,223 266,,461 6,,235 2335,,830 711,,713 710,,918 589,,100 317,,164 6, 935 2615,,704 836,,063 700,,560 702,,236 369,,035 7,,810 2669,,077 841,,214 661,,483 758,,178 400,,028 8,,174 2858, 586 933, 423 664, 676 827, 368 424, 473 8, 646 2931, 181 989, 328 565, 667 902, 960 463, 451 9, 775 Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 25 26 27 28 29 30 31 32 33 34 35 36 4206,,919 1877,,585 556 ,547 837 ,209 894,,110 41,,468 4988,,241 2244,,477 655,,968 1002,,718 1042,,543 42,,535 5737,,374 2566,,976 767,,792 1201,,787 1157,,139 43,,680 6482 ,742 2839 ,494 850,,109 1420 ,872 1324,,800 47 ,467 7206,,362 3143,,898 851,,653 1655,,019 1503,,766 52,,026 7300,,465 3107,,437 812,,110 1744,,349 1583,,428 53,,141 7769,,204 3386,,228 821,,797 1867,,172 1637,,661 56,,346 8140,,384 3585,,324 727,,740 2019,,341 1745,,630 62,,349 otal real estate Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfarm nonfin. corporations Private finan. institutions 31 32 33 34 35 36 (1) At current cost. (21 At year-end prices. Data are in millions of dollars. October 1990 Tangible Asset Holdings Tangible Asset Holdings 18 Distribution of Tangible Assets by Sector Year-End Outstandings Year-End Outstandings 1985 1 Total holdings of tangibles 2 HouseholdsSnonprofit insts. 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corporations 6 Financial institutions ,986 1987 1988 1989 12529 • 545 5187 ,431 800 ,930 2370 ,320 3992 ,822 178 ,042 13253 ,048 5624 ,813 755 -541 2514 ,609 4150 ,772 207 ,313 14241,283 6169 ,317 761 ,097 2696 ,682 4580 ,424 233 ,763 15054 ,407 6559 ,395 800 ,819 2788 ,706 4634 ,899 270 ,588 16017 ,250 7057 ,278 833 ,231 2940 ,716 4873 ,847 312 ,178 7 Plant and equipment (1) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corporations 12 Financial institutions 3771 ,680 254 ,353 175 ,723 475 ,690 2700 ,543 165 ,371 3949 ,846 264 ,202 170 ,779 492 ,282 2829 ,795 192 ,788 4149 ,450 278 ,978 168 ,221 518 ,213 2967 ,240 216 ,798 4377 ,287 290 ,585 162 ,890 542 ,912 3129 ,356 251 ,544 4633 ,006 309 ,489 166 ,511 571 ,581 3294 ,622 290 ,803 13 Residential structures CI) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest, trusts 3482 , 951 2436 ,413 59 ,431 65 ,960 874 ,619 44 i ,866 1 ,662 • 3686 ,952 2603 ,104 61 ,701 65 ,749 908 ,664 45 ,743 1 ,991 4050 ,130 2877 ,847 67 ,126 68 ,099 985 ,833 48 ! ,761 2,,464 4234 ,832 3041 ,797 68 ,667 67 • 373 1005 >163 48,,998 2,,834 4546 • 042 3282 ,492 72 ,888 69 ,127 1067 ,064 51 ,552 2,,919 863,-542 71 ,478 38, 842 753 =222 853 i ,268 66 i ,277 37 ,876 749,,115 918, 887 65, 520 41,,672 811 =695 996, 497 71 =422 45 = .063 880 =012 1050, 812 77, 886 48, 014 924 = .912 24 Consumer durables (households) 1397, 669 1534,,091 1663, 739 1805, 623 1933, 809 24 25 Land at market value 26 HouseholdsSnonprofit insts. 27 Farm business 28 Nonfarm noncorp. business 29 Nonfinancial corporations 30 Financial institutions 3013, 703 1039, 565 487, 769 981, 169 494, 191 11, 009 3228, 891 1161, 715 452, 736 1075, 787 526, 119 12, 534 3459, 077 1281, 627 459, 257 1150, 964 552, 728 14, 501 3640, 168 1352, 723 499, 134 1195, 568 576, 533 16, 210 3853, 581 1458, 600 519, 707 1254, 057 602, 761 18, 456 25 31 Total real estate 32 HouseholdsSnonprofit insts. 33 Farm business 34 Nonfarm noncorp. business 35 Nonfarm nonfin. corporations 36 Private finan. institutions 8471 ,016 3764 ,453 650 ,006 2164 ,881 1821 ,547 70,,129 8951 ,175 4062 ,615 614 740 2305 933 1888 ,364 79 ,523 9656 ,032 4475 ,145 625 020 2480, 292 1983, 797 91,,778 10107 ,380 4720 ,565 663 ,766 2559 ,771 2060,,803 102,,475 10758 ,013 5088 ,091 688 ,037 2701,,585 2163, 203 117,,097 20 Inventories (2) 21 Farm business 22 Nonfarm noncorp. business 23 Nonfinancial corporations (1) At current cost. (2) At year-end prices. Data are in millions of dollars. 6 ? 10 12 15 16 17 19 20 23 30 October 1990 Households Households 19 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings 1945 Year-End Outstandings 1946 1947 1948 1949 1950 1951 1952 Households, Personal Trusts, and Nonprofit Organizations 1 140 ,257 167 ,369 204 ,996 235 ,189 258 ,429 305 ,993 346 ,847 373 ,694 2 3 4 5 6 7 126 ,171 73 ,512 70 ,169 3 ,343 6 ,449 46 ,210 150 ,283 88 ,882 85 ,075 3 ,807 8 ,230 53 ,171 183 ,989 108 ,824 104 ,520 4 ,304 10 ,036 65 ,129 211 ,224 124 ,115 119 ,611 4 ,504 10 ,855 76 ,254 232 ,427 134 ,570 129 ,997 4 ,573 11 ,291 86 ,566 275 ,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 8 9 10 14 ,086 12,,630 1,,456 17 ,086 15 ,313 1 ,773 21 ,007 18 ,814 2 ,193 23 ,965 21 ,530 2 ,435 26 ,002 23 ,399 2 ,603 30 ,012 27 ,003 3 ,009 33 ,849 30 ,375 3 ,474 36 ,588 32 ,805 3 ,783 11 556,>371 592 ,310 623 ,426 640 ,842 658 ,689 727,,396 787 ,957 831 ,153 Total financial assets 11 12 13 14 197:,139 55,,797 50,,098 206,,409 59 ,562 56,,423 209 ,654 58 ,130 59 ,857 211 ,404 55 ,378 62 ,071 213 ,198 53 ,516 64 ,629 219 ,626 55 ,977 67 ,079 229,,199 60,,112 71,,896 247 ,143 62 ,130 79 ,646 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 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits 2 3 4 5 6 7 8 9 10 16 157 156 205 252 328 278 309 370 17 18 19 20 21 91,,087 66,,428 42 ,935 26,,306 -2,,813 90,,268 64,,963 44,151 23 ,970 -3,,158 91 ,462 64 ,870 46 ,236 21 ,887 , -5,,253 93 ,703 65 ,655 47 ,837 20 ,921 - 3 ,103 94 ,725 67 ,109 49 ,300 20 ,898 - 3 ,089 96,,292 66,,244 49,,552 19,,765 -3,,073 96,,882 65,,324 49,,081 18,,915 ,672 104 ,997 67 ,515 49 ,173 20,,734 -2,,392 22 23 24 25 3,,869 8,,605 12,,151 34 3,,817 7,,765 13,,658 65 4 ,458 7 ,063 14,,998 73 4 ,629 7 ,111 16 , 150 158 3 ,724 6 ,824 16 ,863 205 5,,465 6,,764 17,,531 288 5,,740 6,,973 18,,425 420 10 ,957 6,,970 19 ,089 466 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 111,,530 1 ,264 , 110,,266 103,,387 1,,297 102, 090 101,,249 1,,412 99,,837 100,,136 1,,515 98,,621 109 ,445 3 ,070 106 ,375 133,,663 3,,344 130,,319 156,,293 3,,481 152,,812 170,,429 3,,931 166,,4 98 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 39,,560 12,,255 43,,360 13,,517 46,,510 15,,770 49,,353 18,,226 52,,104 21,,051 55,,049 24,,254 57,,777 27,,820 60,,665 32,,595 Life insurance reserves Pension fund reserves 29 30 31 188,,942 217,,850 241,,991 253,,082 253,,832 285,,141 306,,699 309,,604 32 33 694 6,,251 733 7,,054 660 7,,592 654 7,,987 702 8 ,357 971 8,,692 893 9,,276 714 10,,003 34 696,,628 759, 679 828,,422 876,,031 917,,118 1033,,389 1134,,804 Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues Equity in noncorp. business 31 Security credit Miscellaneous assets 32 33 1204,,847 Total assets 35 33, 656 37, 811 45,,974 54,,013 62,,555 75,,656 84,,544 96,,932 Total liabilities 96,932 36 37 38 27, 653 18, 000 500 34 , ,242 21, 607 642 42,,588 26,,266 831 50,,780 30,,862 1,,130 58,,948 35,,284 1,,515 71,,179 ,998 41 , , 1 ,978 80,,031 48,,622 2,,490 92,,068 54,,834 2,,953 40 41 2, 607 4, 167 4,,435 5, 286 7,,092 6,,158 9,,514 6,,805 12,,232 7,,156 15,,503 8,,462 16,,220 9,,149 20,,470 10,,073 42 43 301 2,078 264 2, 008 191 2,,050 287 2,,182 380 2,,381 667 2, 571 785 2, 765 836 2,,902 44 45 4,,861 504 2, 195 671 1,,831 771 1,,547 851 1,,819 884 2,,519 951 2, 393 1, 034 2,,569 1,,133 46 638 703 784 835 904 1, 007 1, 086 1,,162 47 662, 972 721,,868 782,,448 822,,018 854,,563 957, 733 1050, 260 1107,,915 48 82,799 100,388 123,334 141,141 153,396 177,022 199,123 49 21.7% 21.5% 21.2% 21.8% 23.0% 23.7% 24.4% 50 10,901 13,353 15,948 17,087 17,646 19,724 31,662 35,723 38,154 38,100 37,424 40,156 Data are in millions of dollars. 17 18 19 20 21 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 36 37 38 39 40 41 42 43 44 45 215,055 Total owner-occ. real estate Home mortgages as percent of 25.4% owner-occ. real estate 48 22,026 23,205 Total nonprofit real estate 50 41,867 Inventories of nondurable goods, 42,178 not included in totals above 51 49 October 1990 Households 20 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 1957 1958 Households. Personal Trusts, and Nonprofit Organizations 1 Tangible assets 397,837 422 ,088 460 ,448 504 ,056 526 ,747 551 ,987 581 ,117 611 ,811 1 2 3 4 5 6 7 358-709 199,234 194.135 5,099 16-502 142,973 379 ,482 214 -825 209 5 ,193 17 ,577 147,080 413 ,328 236 ,374 231 ,005 5 ,369 19 ,639 157 ,315 447 ,763 253 ,796 248 ,279 5 ,517 ,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 2 3 4 5 6 7 39,128 34 ,944 4,184 42 ,606 37 ,734 4,872 56 -293 49 ,656 6 ,637 59 ,934 52 ,267 7 ,667 63 ,799 55 ,079 8 ,720 67 .989 58 ,298 9 ,691 78 ,103 8 67 ,246 9 10 ,857 10 946 ,070 1037 ,588 1102 ,114 1104 ,057 1256 ,086 1330 .527 1362 ,650 11 273 ,024 64 ,948 97 ,155 291 65 • 891 105 ,876 326 ,770 66 ,475 127 ,4 98 343 ,825 68 ,632 141 ,577 368 ,338 71 ,559 153 ,087 389 .326 12 73 ,206 13 164 ,835 14 8 9 10 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions 11 Total financial assets 47 , 120 41 ,581 5 ,539 12 13 14 15 16 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time S savings dep. Money market fund shares Large time deposits 261,653 63,229 87,899 1 -114 -280 17 18 19 20 21 Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 110,171 68,332 49,371 21 , 109 -2,148 110 ,612 6 6 •390 , 49 966 18 469 -2,,045 119,-272 6 9 •- 623 50 , 20, 911 - 1 ,517 126, 479 .464 71 , 50,.135 22, 375 - 1 ,046 132 ,911 73 ,254 48 25 ,077 -49 133 ,896 69 • 885 47 ,703 ,382 -200 144 , 1 18 74 ,505 45 .907 26.,868 1 ,730 • 151 ,303 73 ,965 45 ,642 27 .289 1 ,034 • 17 18 19 20 21 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 13,873 7-031 20,081 854 15 i964 6, 162 21 ,214 882 19- 174 6, 8 7 2 476 1 ,127 21 ,900 7, 846 24 .059 1 ,210 23 851 8.-494 25, 997 1 ,315 , 24,.616 9, 673 28, 562 1 ,160 28 •362 10. 238 30 , . 659 354 31 •007 10, 899 33 ,426 2- 006 22 23 24 25 26 27 28 Corporate equities Mutual fund shares Other corporate equities 162,414 4,146 158,268 235- 019 6, 109 228, 910 286, 293 7, 838 278, 455 305. 087 9, 046 296, 041 267, 382 8, 714 258 ,668 373, 311 13- 241 360 -070 401 ,991 15, 818 386,173 395 -457 26 17, 026 27 378, 431 28 29 30 Life insurance reserves Pension fund reserves 63,647 37,479 66 -349 42,654 69, 254 50, 546 72 ,724 56, 590 75, 462 62 ,678 78 ,535 72, 716 81 ,956 82, 410 85, 184 29 90, 818 30 31 Equity in noncorp. business 317, 058 327, 954 345, 574 374, 22b 382, 022 387, 431 31 32 33 Security credit Miscellaneous assets 1 ,020 10, 946 899 11 ,413 882 11 ,733 894 12, 041 1 ,156 12, 317 989 12, 821 1 ,137 32 13, 297 33 1368 ,158 1498, 036 1606, 170 1630, 804 1808 -073 1911 ,644 1974 -461 34 354 708 10,609 34 Total assets 309 309 , 524 67 ,592 115 ,452 190 358, -426 -18 16 110, 104 143,,002 159, 277 171 ,754 184 ,640 207,493 225 . 129 55 36 37 38 39 40 41 104 ,606 62, 458 3, 442 115 ,528 71 , 144 4 ,034 135 .323 83 ,305 4,• 624 151 ,305 94 -538 5, 299 163 ,888 103,,419 6 ,041 175-• 340 112- 880 6, 824 197 ,787 125 • 685 7 ,602 24, 254 10, 382 24 •891 11 ,095 30. 269 12 ,706 , 33, 171 13, 434 35,,443 13,• 801 35, 339 14,. 186 41 , 123 16,,119 215 .226 36 137 348 57 8 ,432 38 39 45 • 051 40 lb. 41 940 3, 130 989 3 ,375 814 3, 605 971 3, 829 4, 355 1 ,290 4, 821 1 ,825 , 5,,433 1 .921 , 42 6. 252 43 3, 032 1 ,212 4 ,131 1 ,298 , 4- 816 1 ,381 4 ,773 1 •530 4. 365 1 ,658 , 5, 522 1 ,809 5,536 1 ,983 , 5 398 44 2,. 126 45 1 ,254 1 ,341 , 1 ,482 1 ,669 1 ,843 1, 969 2, 187 2, 379 46 1135, 947 1245, 860 1355, 034 1446, 893 1459, 050 1623, 433 1704 ,151 1749, 332 47 229, 079 247, 366 272, 58 6 297, 935 313, 602 330.475 349. 788 372, 909 48 301.5% 31 .7% 32!.9% 35,.9% 36 .8% 49 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth 48 Total owner-occ. real estate Home mortgages as percent of owner-occ. real estate 49 27 .2% CO 35 Total liabilities 34 . 1% 24, 129 25, 815 28, 4 98 31 ,917 34, 396 36, 755 39, 293 42, 055 50 Inventories of nondurable goods, 51 not included in totals above 43, 110 43, 45, 148 47, 431 48, 467 49, 031 51 ,268 53, 054 51 Data are in millions of dollars. CO 50 Total nonprofit real estate October 1990 Households Households 21 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings 1961 Year-End Outstandings 1962 1963 1964 1965 1966 1967 1968 Households. Personal Trusts, and Nonprofit Organizations 1 633:,963 659,,496 684,,885 727,,082 766,,263 844 ,294 899,,889 2 3 4 5 6 7 551:,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,,801 632,,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 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 8 9 10 82 ,214 69:,961 12,,253 86,,030 72,,817 13,,213 88,,913 74,,774 14,,139 94 ,744 79,,550 15,,194 99,,56/ 83 ,340 16,,227 119,,663 102,,103 17,,560 125,,098 107,,395 17,,703 138,,232 120,,083 18,,149 Land Ownei—occupied Nonprofit institutions 11 1515,,470 1501,,829 1640,,402 1765 ,168 1921 358 1943,,902 2185,,462 12 13 14 15 16 410,,185 71,,823 182,,946 438,,497 71,,227 208,,681 471,,326 75,,815 234,,216 508,,573 81,,060 259,,762 549 ,091 88 ,533 287 ,032 588,,662 90,,959 305,,172 638,,147 100,,808 339,,729 216 590 1 ,290 , 2,,003 2 ,647 3,,620 4,,290 8,,568 17 18 19 20 21 155,,200 73,,267 46,,445 26,,230 592 157,,999 74,,779 46,,968 27,575 236 160,,005 73,,996 48,,149 25,,946 -99 165 ,748 75 ,138 49 ,060 25 ,833 245 170,,879 77,,334 49 ,695 26,,507 1,,132 188,,911 86,,380 50,,249 30,,281 5,,850 193,,320 86,,779 51,,219 29,,295 6,,265 205,,555 90,,521 51,,866 32,,535 6,,120 22 23 24 25 32 ,506 10:,573 36:,662 2:,192 32,,087 9,,575 38,,766 2,,792 32,,094 9,,602 40,,250 4,,063 34 ,854 9 ,098 41:,747 4,,911 36,,531 9,,040 42,,186 5,,788 41,,151 10,,362 44,,191 6,,827 38,,208 14,,619 45,,989 7,,725 36,,490 19,,823 48,,448 10,,273 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 500 ,803 22 ,875 477 ,928 437,,092 20,,909 416,,183 513,,512 24,,818 488,,694 564,,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 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 88 ,631 103:,655 92,,398 109,,638 96,,635 123,,201 101,,051 139,,230 105,,876 155,,494 110,,570 165,,127 115, 535 187,,312 120,,324 209,,055 Life insurance reserves Pension fund reserves 29 30 408,,677 419,,676 434,,798 456,,478 483,,844 500,,386 529,,963 Equity in noncorp. business 31 1,,222 14,,830 1 ,669 15,,710 2,,533 16,,983 2,,730 18,,199 4,,943 19,,848 7,,039 21,,645 Security credit Miscellaneous assets 32 33 2325,,287 2492,,250 2687,,621 2788,,196 3085,,351 31 397,,178 32 33 1,,192 13,,826 34 2149,,433 2161,,325 1,> 226 14,,301 1002,,422 Tangible assets 2436,,702 Total financial assets 692,,209 111,,773 366,,313 Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 3439,,124 Total assets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 34 35 242,,999 264,,475 293,,716 323,,267 354,,165 377,,983 403,,077 438,,980 Total liabilities 35 36 37 38 39 40 41 231,,497 149 ,541 9,,301 252,,811 163 ,301 10 ,288 279,,709 179,,864 11,,257 309,,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 46,,027 17,,434 50,,994 18,,368 57,,829 20,,069 65 ,572 21,,808 79,,339 24,,110 83,,148 25,,448 91,,681 27,,675 42 43 2,,217 6,,977 2,,116 7,,744 2 ,283 8,,407 29,,932 ,155 73,,881 23,,628 36 37 38 39 40 41 3,,571 9,,970 3,,737 11,,941 4,,530 13,,262 5,,880 15,,315 44 45 6 ,736 2,,254 6 ,610 2 ,387 8 ,567 2 ,587 8 ,362 2 ,826 9,,098 3,,031 9,,025 3,,157 12,,709 3,,663 15,,627 4,,133 46 2 ,512 2 ,667 2 ,853 3 ,039 3,,303 3,,659 3,,947 4,,302 47 1906 ,434 1896 ,850 2031 ,571 2168 ,983 2333,,456 2410,,213 2682,,274 48 387,,965 403,,805 414 ,658 441 ,143 462 ,159 510,,514 536,,975 49 38.5% 40.4% 43.3% 44.7% 46.3% 44.7% 50 45,,839 49,,822 53,,668 58 ,217 63,,747 70,,602 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 3000,,144 Net worth 42 43 44 45 46 47 Memo: 51 54,,275 56, 692 Data are in millions of dollars. 58,,990 62,,654 67,,463 73 ,918 48 44.8% 600,,415 Total owner-occ. real estate Home mortgages as percent of 42.9% owner-occ. real estate 74,,639 82,,395 Total nonprofit real estate 50 79,,139 Inventories of nondurable goods, 86,,692 not included in totals above 51 49 October 1990 Households 22 Sector Balance Sheet with Tangible Assets at Current Cost Yeai—End Outstandings Year-End Outstandings 1969 1970 1971 1972 1973 1974 1975 1976 Households, Personal Trusts, and Nonprofit Organizations 1 Tangible assets 2 3 4 5 6 7 8 9 10 1096 ,434 1167 ,540 1278 ,091 1411 ,761 1610 ,115 1846 ,295 1999 ,707 2253 ,408 1 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 946 ,103 537 ,610 524 ,443 13 ,167 64 ,763 343 ,730 1009 ,750 565 ,594 551 ,874 13 ,720 71 ,722 3/2 ,434 1103 707 629 ,273 614 ,337 14 ,936 80 ,703 393 ,731 1217 ,683 704 ,217 687 ,415 16 ,802 88 ,782 424 ,684 1380 ,103 811 ,130 791 ,680 19 450 98 ,473 470 ,500 1584 ,521 924 ,847 902 ,948 21 ,899 115,495 544 ,179 1719 ,067 1002 ,482 978 ,640 23 ,842 120 •886 595 ,699 1915 ,331 1132 ,835 1106 , 144 26 ,691 129 ,743 652 ,753 2 3 4 5 6 7 Land Owner-occupi ed Nonprofit institutions 150 ,331 131 ,111 19 ,220 157 ,790 137 ,968 19 ,822 174 ,384 153 ,584 20 ,800 194 ,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 8 309 ,720 9 28 ,357 10 2411 ,065 2493 ,407 2757 ,858 3055 ,975 3095 -660 3088 ,486 3531 ,279 3991 ,879 11 738 ,225 109 ,312 380 ,693 790 ,814 117 ,885 410 ,738 861 ,876 129 ,926 478 ,497 945 ,090 141 ,742 547 ,627 104 3 ,056 150 ,208 58 7 , 155 1143 • 977 155 ,969 624 •385 2 ,379 56 ,524 1247 , 126 161 ,409 721 ,008 3 ,696 37 ,237 1382 ,752 175 ,145 837 ,196 3 ,686 26 ,699 12 13 14 15 16 325 ,776 125 ,088 67 ,363 49,,453 8,,272 340,026 132 ,747 72, 018 48,,414 12,,315 17 18 19 20 21 69,,208 76,,652 59,,696 1,,723 22 23 24 25 11 Total financial assets 12 13 14 15 16 Deposits 8 cr. mkt. instr. Checkable deposits & curr. Small time 8 savings dep. Money market fund shares Large time deposits 17 18 19 20 21 Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 3 ,197 245 106 51 43 11 ,023 ,603 , 770 ,528 ,305 15 ,282 13 ,647 246 ,909 100 ,794 52 • 089 32 ,762 15 ,943 239 ,806 90 ,789 54 ,416 21 • 748 14,,625 45 ,970 43 ,225 48 • 873 10,,949 16 ,738 238 ,983 88 ,336 57 ,667 21 ,771 , 8,,898 39 , 125 266 ,568 100 ,328 60 ,354 31 ,642 8 ,332 304 ,720 112 , 128 63 ,338 35 , 121 13 ,669 47,,684 46 ,247 49 • 825 6,,891 55 ,136 49 ,917 48 ,838 12 ,349 62 ,164 58 ,591 52 ,138 19 ,699 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 47 ,244 24 ,662 50 ,669 15 ,845 , 47 , 144 33 .827 5 1 ,543 , 13,,601 26 27 28 Corporate equities Mutual fund shares Other corporate equities 744 ,688 45 577 699,,111 727 . 152 44 • 500 682 ,652 830 966 53,,006 777,,960 918,• 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 26 41 ,436 , 27 712,• 879 28 29 30 Life insurance reserves Pension fund reserves 125,,362 219,,770 130 703 240,,819 137, 055 277,,895 143,,930 331,•312 151,,278 337,.982 158,,399 345,• 327 166, 483 444, 059 175,• 268 29 507, 488 30 31 Equity in noncorp. business 554, 036 573, 218 616,,529 680,,933 817,,098 908, 414 991 ,231 1120,•322 31 32 33 Security credit Miscellaneous assets 5,,221 23,,763 4,,354 26,,347 4,,886 28, 651 3, 891 36, 802 4, 468 40, 552 5,-730 32 46,• 004 33 3507, 499 3660 947 4934, 781 5530, 986 6245,• 287 34 35 Total liabilities 470,,266 492! 640 541, 434 607, 784 680, 419 730, 703 779, 621 873, 860 35 36 37 38 39 40 41 448, 643 276, 225 17, 884 471 ,753 290, 047 19, 042 516, 911 314, 761 20, 251 577, 635 353, 027 21, 547 101, 161 28, 280 105, 528 28, 489 118, 255 31, 478 133, 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 6 •794 18, 299 7, 747 20, 900 9,893 273 10, 684 23, 608 14, 086 26, 174 15, 640 29, 384 14, 139 31, 544 14- 868 42 33, 386 43 12, 225 4, 710 10, 445 5, 324 13, 109 5, 978 17, 537 6, 636 13, 193 7, 253 11 ,387 8, 258 12, 113 9, 356 16, 511 44 10,526 45 4, 688 5, 118 5, 436 5, 976 6, 376 7, 086 7, 744 8, 375 46 3037, 233 3168, 307 3494, 515 3859, 952 4025, 356 4204, 078 4751 ,365 5371 ,427 47 655, 554 689, 842 767, 921 859, 269 997, 517 1137, 714 1233, 086 1415- 864 48 42!.1% 42:.o% 40.9% 41 .0% 39.7% 37 .9% 381.0% 37 .3% 49 91, 380 99, 109 109, 936 120, 953 134, 665 155, 4 78 161, 118 174, 383 50 92, 994 i) 96, 649 100,890 108, 952 121, 757 134, 613 140, 317 152, 061 51 34 Total assets 42 43 44 45 46 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 47 Net worth 48 Total ownei—occ. real estate Home mortgages as percent of owner-occ. real estate 49 50 Total nonprofit real estate 51 Inventories of nondurable goods, not included in totals above Data are in millions of dollars. 4035,• 949 5,• 022 31, 319 4467,• 736 4,,866 34,, 124 4705, 775 67,.174 68,• 223 55 • 301 7,,990 36 37 38 39 40 41 October 1990 Households Households Sector Balance Sheet with Tangible Assets at Current Cost 23 Year-End Outstandings 1977 Year-End Outstandings 1978 1979 1980 1981 1982 1983 1984 Households, Personal Trusts, and Nonprofit Organizations 1 2614 ,292 3077 ,067 3505 ,641 3874 ,877 4257 .978 4268 ,701 4614,,510 4894 ,553 Tangible assets 1 2 3 4 5 6 7 2194 ,043 1326 ,945 1296 ,125 30 ,820 141 ,601 725 ,497 2551 ,222 1563 ,035 1527 ,137 35 ,898 167 ,725 820 ,462 2876 ,087 1775 ,372 1734 ,013 41 ,359 175 ,421 925 ,294 3163 ,164 1949 ,347 1902 ,860 46 ,487 193 ,848 1019 ,969 3421 2113 2062 50 212 1096 ,915 ,007 ,051 ,956 ,434 ,474 3427 ,487 2068 .026 2017 ,467 50 ,559 217 ,772 1141 ,689 3681 .087 2240 .810 2187 .547 53 .263 233,,395 1206,,882 3905 ,225 2372 ,946 2316 ,297 56 ,649 246 ,302 1285 ,977 2 3 4 5 6 7 8 9 10 420 ,249 388 ,837 31 ,412 525 ,845 488 ,684 37 ,161 629 ,554 589 ,564 39 ,990 711 ,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 11 4327 ,302 4868 ,242 5624 ,627 6550 ,017 7039 ,001 7568 ,142 8347,,952 8877 ,489 Total financial assets 11 12 13 14 15 16 1538 ,548 192 ,181 932 ,686 3 ,443 34 ,450 1715 ,194 216 ,799 998 ,397 9 ,436 64 ,898 1932 ,294 249 ,544 1058 ,176 40 ,032 72,,496 2127 ,189 260 ,339 1140 ,680 64 ,878 111 ,935 2357,,015 294 ,345 1188 , 185 155,,620 125,,986 2579,,148 314 ,867 1322 ,485 189 ,439 100,,761 2870,,333 339,,515 1532,,562 158,,350 78,,808 3262 ,918 355 .823 1685 .706 202,,399 141,.926 12 13 14 15 16 17 18 19 20 21 375 ,788 147 ,835 76 ,762 59 ,168 11 ,905 = 425 ,664 175 ,824 80 ,691 74 ,066 21 ,067 512 ,046 235,,941 79 ,876 118,,202 37,,863 549 .357 269 ,563 72 ,528 149 ,563 47 ,472 592 ,879 291 ,087 68,,190 173,,768 49,,129 651 ,596 333 , 144 68 ,346 219 ,475 45 ,323 761,,098 405,,827 71,,485 288,,274 46,,068 877 .064 496,.843 74,.515 343 ,426 78,.902 22 23 24 25 65 ,895 80 ,077 66 ,534 15,,447 69 ,661 73 ,835 75 ,957 30,,387 77,,384 71,,468 89,,426 37,,827 78 52 106 41 ,578 ,822 ,981 ,413 99,,810 53,,526 117,,346 31,,110 128,,139 45,,972 126,,082 18,,259 156,,264 37,,620 127,,073 34,,314 180,.689 32,.633 128,.160 38,.739 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 708 ,824 ,354 40 i 668 ,470 704,,952 41,,079 663,,873 856,,953 44,,797 812,,156 1164,,509 52 ,059 1112,,450 1104,,995 52,,639 1052,,356 ,058 1241 , 66,,696 1174,,362 1421,,984 97,,967 1324,,017 1440,,148 117,,685 1322,,463 Corporate equities Mutual fund shares Other corporate equities 26 27 28 29 30 184 ,802 560,,329 195,,992 661,,515 206,,692 767,,072 216,,427 916,,065 225,,627 996,,943 232,,799 1179,,220 240,,792 1392,,082 245,,994 1531,,982 Life insurance reserves Pension fund reserves 29 30 31 1276,,117 1522,,524 1784,,529 2037,,217 2261,,186 2232,,783 2301,,629 2272,,334 Equity in noncorp. business 31 8,,521 59,,544 10,,354 66,,733 16,,236 72,,374 14,,729 78,,506 17,,838 85,,296 20, 557 100,,575 ,573 21 , 102,,540 Security credit Miscellaneous assets 32 33 11836,,843 12962,,462 32 33 5,i 739 52,.943 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions Deposits 8 cr. mkt. Instr. Checkable deposits 8 curr. Small time 8 savings dep. Money market fund shares Large time deposits Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 8 9 10 17 18 19 20 21 34 6941,,594 7945,,309 9130,,268 10424,,894 11296,,979 35 1014,,303 1182,,930 1358,,213 1488,,745 1611,,219 1694,,344 1873,,407 2102,,151 Total liabilities 35 36 37 38 39 40 41 974,,474 619,,185 26,,730 8,,100 223,,669 43,,483 1138,,333 727,,675 28,,056 10,,700 264,.712 47,,570 1310,,391 846,,880 29, 559 13,• 600 300,,513 52, 448 1430,,156 942,,376 31,,486 16,,700 302,,062 53,,329 1549,,209 1020,,313 33,,781 21 , ,100 315,,546 56,,750 1626,.299 1059, 685 36,.428 29,.600 330,,414 58,.330 1791, 947 1156, 047 38, 917 41, 000 374, 475 63, 174 2018,,770 1290,,132 41,,368 51,,171 449,,499 69,,812 36 37 38 39 40 41 42 43 17,,591 35,,716 20,• 096 39,.524 21, 673 45, 918 29,,469 54, 734 35, 929 65, 790 38, 604 73, 238 41, 825 76, 509 37,,345 79,,443 44 45 18,861 11, 684 21 , .047 13,.201 21, 254 14, 876 28,,492 17,,158 27,.465 19, 823 30, 310 22, 220 39, 741 25, 620 37,,336 30,,937 46 9, 284 10,.349 11,,692 12,,939 14, 722 15, 515 16, 099 15,,108 47 5927, 291 6762,,379 7772, 055 8936,, 149 9685, 760 10142, 499 11089, 055 48 1684,,962 2015,,821 2323, 577 2568,,861 2845, 630 2804, 279 3062, 566 49 36.7% 36.0% 36.4% 36.6% 35.8% 37.7% 37.7% 50 192,,623 228, 656 243,.399 270,,633 298, 268 303, 158 13772,,042 Total assets Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons, credit Other consumer credit Bank loans n.e.c. Other loans Security credit Trade credit Deferred and unpaid life insurance premiums 11669,.891 Net worth 34 42 43 44 45 46 47 Memo: 51 164,,441 182,,465 202, 314 Data are in millions of dollars. 218,,426 235, 405 246, 446 3242,816 Total owner-occ. real estate Home mortgages as percent of 39.7% owner-occ. real estate 48 323, 662 342, 508 Total nonprofit real estate 50 263, 379 Inventories of nondurable goods, 284, 348 not included in totals above 51 49 October 1990 Households 2 4 Households Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1985 1986 1987 1988 1989 Households, Personal Trusts, and Nonprofit Organizations 1 Tangible assets 5187 ,431 5624,813 6169 ,317 6559 ,395 7057 ,278 1 2 3 4 5 6 7 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 4147 ,866 2495 ,844 2436 ,413 59 ,431 254 ,353 1397 ,669 4463 ,098 2664 ,805 2603 ,104 61 ,701 264 ,202 1534 ,091 4887 ,690 2944 ,973 2877 ,847 67, 126 278 ,978 1663 ,739 5206 ,672 3110 ,464 3041 ,797 68 ,667 290 ,585 1805 ,623 5598 ,678 3355 .380 3282 492 72 ,888 309 ,489 1933 ,809 2 3 4 5 6 7 Land Owner-occupi ed Nonprofit institutions 1039 .565 974 ,565 65 ,000 1161 ,715 1093 ,304 68 ,411 1281 ,627 1208 ,696 72 ,931 1352 ,723 1277 ,555 75 ,168 1458 .600 1378 647 79 ,953 8 9 10 11 Total financial assets 9940 ,615 10882 ,983 11451 ,874 12460 ,395 13823 ,052 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 3579 ,925 376 ,643 1829 ,571 211 , 122 119 ,490 3882 ,836 467 ,844 1945 ,730 250 ,729 102 ,696 4226 ,381 472 ,640 2005 ,291 278 ,843 149 ,261 4697 ,380 476 ,938 2137 ,231 302 ,389 199 ,550 5117 ,844 492 ,873 2227 ,760 38 3 ,573 222 ,108 12 13 14 15 16 17 18 19 20 21 Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 1043 ,099 569 ,811 79 , 777 390 -035 99 ,999 1115 ,837 575 ,230 93 ,332 388 ,261 93 ,637 1320 ,346 649 472 101 ,103 413 , 188 135 , 181 1581 ,272 791 ,526 109 -556 464 , 645 217 ,325 1791 ,530 919 ,077 117 ,725 474 ,239 327 ,113 17 18 19 20 21 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 218 ,786 37 ,116 127 • 504 89 ,882 197 ,111 90 ,482 148 818 104 ,196 255 ,857 114 ,032 169 ,083 131 ,902 319 ,230 100 ,444 189 ,075 180 ,997 348 ,475 117 ,193 220 ,874 185 ,91?. 22 23 24 25 26 27 28 Corporate equities Mutual fund shares Other corporate equities 1888 ,346 206 ,866 1681 ,480 2202 ,453 356 • 905 1845 ,548 2098 , 182 406 ,254 1691 ,928 2233 ,255 417 ,996 1815 ,259 2613 ,112 476 , 186 2136 ,926 26 27 28 29 30 Life insurance reserves Pension fund reserves 256 ,711 1801,839 274 ,226 2031 ,780 300 ,272 2201 ,865 325 ,536 2482 ,4 38 351 ,772 , 2857 ,458 29 30 31 Equity in noncorp. business 2245 ,791 2298 ,363 2414,,953 2492 ,752 2630, 490 31 32 33 Security credit Miscellaneous assets 35 i ,051 132,,952 44 ,015 149,,310 15128, 046 16507,,796 8 9 10 34 Total assets 39,,103 171 , 118 17621,,191 40,,886 188,. 148 19019,•790 53, 190 199,, 186 20880, 330 32 33 34 35 Total liabilities 2401 , ,500 .374 2711 , 2984, 246 3304, 187 3620, 420 35 36 37 38 39 40 41 2296 ,,034 1440, 606 43, 770 81 ,334 526, 4 68 75, 332 2596, 080 1667, 304 49, 874 79-, 142 581 ,761 78, 005 2879, 137 188 7, 789 82, 180 78, 178 619, 766 73, 474 3191 ,475 2118, 505 109, 210 79, 049 674. 719 68, 751 3501 ,516 2352, 471 122, 595 80, 712 727, 561 62, 995 36 37 38 39 40 41 42 43 Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons. credit Other consumer credit Bank loans n.e.c. Other loans 44, 246 84, 278 50, 568 89, 426 45, 361 92, 389 43- 529 97, 712 55- 070 100- 112 42 43 56- 779 33, 478 64 ,979 36, 430 50, 351 39, 665 53, 459 43- 803 54 ,298 48, 799 44 45 15, 209 13,885 15, 093 15, 450 15,807 46 12726, 546 13796, 422 14636, 945 15715, 603 17259, 910 47 3410, 978 3696, 408 4086, 543 4319, 352 4661 ,139 48 42 .2% 45 .1% 46 .1% 50 .4% 49 50 Total nonprofit real estate 353, 475 366, 207 388, 602 401, 213 426, 952 50 Inventories of nondurable goods, 51 not included in totals above 304, 362 324, 958 353, 107 378, 038 397, 383 51 44 45 46 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 Data are in millions of dollars. 49 . 0% October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost 25 Year-End Outstandings 1945 Year-End Outstandings 1946 1947 1948 1949 1950 1951 1952 Farm Business 1 78 ,589 92,,887 100,,571 103 ,332 101,,394 122,,739 136,,402 2 3 4 5 32 ,575 11 ,393 7 ,037 14 ,145 41,,800 13,,158 9,,003 19,,639 48 ,147 15 ,191 11 ,918 21,,038 50 ,106 16 ,266 14 ,536 19 ,304 49 ,967 16,,841 16 ,462 16,,664 59 ,398 17 ,937 19 ,007 22 ,454 65 ,202 18 ,854 21 ,440 24 ,908 65 ,178 19 ,121 22 ,750 23 ,307 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 71 ,681 Land 6 136 ,859 Tangible assets 1 6 46 ,014 51,,087 52 ,424 53 ,226 51,,427 63 ,341 71 ,200 7 5 ,328 7,,185 8 ,369 8,,459 8,,035 8 ,068 8 ,327 8 ,314 Total financial assets 8 9 10 11 4,,600 728 548 180 6,,400 785 645 140 7 ,500 869 753 116 7,,500 959 844 115 7,,000 1,,035 918 117 7 ,000 1 ,068 949 119 7 ,200 1 ,127 1,,005 122 7 ,100 1 ,214 1 ,088 126 12 83 ,917 100:,072 108 ,940 111,,791 109,,429 130 ,807 144,,729 13 7 ,179 7 ,599 8 ,297 9,,294 9,,880 11 ,221 12,,944 13 ,879 Total liabilities 13 14 15 16 17 18 19 6 ,593 4 ,760 1 ,037 796 464 332 6 ,956 4 ,897 1,,292 767 391 376 7 ,424 5 ,064 1,,593 767 283 484 8 ,082 5 ,288 1 ,946 848 243 605 8,,474 5 ,579 2,,049 846 228 618 9 ,532 6 ,071 2 ,524 937 244 693 10,,819 6,,651 3 ,120 1,,048 199 849 11 ,609 ,236 3 ,293 1 ,080 213 867 7 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 14 15 16 17 18 19 20 586 643 873 1,,212 1,,406 1 ,689 2,,125 2 ,270 Trade debt 20 21 22 23 76 ,738 1 ,265 75 ,473 92,,473 1,,548 90,,925 100,,643 1,,672 98,,971 102,,497 1,,697 100,,800 99,,549 1,,627 97,,922 119 ,586 2 ,010 117,,576 131,,785 2,,246 129,,539 24 60,,526 68,.700 73,,472 76,,032 75,,075 88,,949 98,,687 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 145 ,173 Total assets 131,,294 Net worth Corporate farms 2,,345 128,,949 Noncorporate farms 7 8 9 10 11 12 21 22 23 Memo: 100,,009 Total real estate 24 Nonfarm Noncorporate Business 1 106,,218 121,,767 138 ,660 149,,067 152,,572 165,,420 175 ,759 179 ,962 Tangible assets 1 2 3 4 5 69 ,610 48 ,088 14,,609 6 ,913 82,,222 54,,867 18,,466 8,,889 95 ,827 62 ,581 22,,884 10,,362 103,.798 66,.072 25,,727 11,,999 105,,296 67,,467 26,,796 11,,033 115,,297 71,,745 30,,090 13,,462 122 ,778 75 ,397 33 ,166 14 ,215 124 ,640 76 ,636 34 ,122 13 ,882 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 6 36,,608 39,,545 42,,833 45,.269 47,,276 50,,123 52,,981 55 ,322 7 15,,892 17,,201 18,,302 18,.660 19,,424 21,,197 21 ,595 22 ,689 Total financial assets 8 9 10 11 12 13 9,,726 9,.737 10,,101 9,.949 10,.315 10,.538 10,,777 10 ,429 850 1,.003 1,,267 1,.574 1,.811 2,.175 2,,300 2 ,674 4 ,548 5,,553 5,,864 5,.934 5,.995 7,.091 6,,974 7 ,838 14 15 16 17 768 763 5 908 902 6 1,,070 1,,060 10 1,,203 1,,190 13 1,.303 1,,289 14 1,.393 1,.378 15 1,,544 1,,527 17 1 ,748 1 ,730 18 18 122,,110 138,,968 156,,962 167,,727 171,,996 186,.617 197,,354 - - - - - 7 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 8 9 10 11 12 13 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 14 15 16 17 202,,651 Total assets 18 19 8,,641 12,.043 13,,942 15,,445 16,,086 19,.052 20,.194 21,,996 Total liabilities 19 20 21 22 23 24 6,-097 3,.828 291 2,.841 696 8.,351 4,.486 659 3,.016 811 9 ,560 5 ,070 872 3 ,275 923 10,,335 5 ,810 1 ,093 3 ,713 1,,004 10,,836 6,,361 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 20 21 22 23 24 25 26 325 1,,944 965 2,,900 1 ,322 3 ,168 1,,066 3,,459 833 3,,642 1,,278 4,,003 1,,508 4 ,442 1,,721 4,,874 Bank loans n.e.c. Other loans 25 26 27 28 2,,544 6 ,077 6,,544 Other taxes payable Trade debt 27 28 Miscellaneous liabilities 29 29 - " - - 3 ,692 4 ,382 - " - 5,,110 - - 5,,250 " - 6,,260 - - - Credit market instruments Mortgages Home mortgages Multi family Commercial 30 113 ,469 126 ,925 143 ,020 152,,282 155,,910 167,,565 177,,160 180,,655 Net worth 31 93 ,779 105 ,853 119 ,026 125 ,802 129 ,187 137,,609 145,,469 149 ,376 Total real estate 30 Memo: Data are in millions of dollars. 31 October 1990 Farm & Noncorporate Business 26 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 1957 1958 1959 1960 Farm Business 1 Tangible assets 134 ,811 137 ,732 142 ,431 150 ,569 158 ,662 169 ,340 175 ,951 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 64 ,516 19 ,151 23 ,365 22 ,000 64 ,212 19 ,342 23 ,670 21 ,200 64 ,349 19 ,639 24 ,810 19 ,900 65 ,561 19 ,759 25 ,902 19 ,900 67 ,181 19 ,610 26 ,371 21 ,200 68 ,904 19 ,437 26 ,867 22 ,600 68 ,969 19 ,382 27 ,487 22 ,100 6 Land 70 ,295 73 ,520 78 ,082 85 ,008 91 ,481 100 ,436 106 •982 108 ,293 6 8 ,291 8 ,264 8 ,372 8 ,251 8 ,218 8 ,584 7 ,982 7 ,646 7 7 ,000 1 ,291 1 ,159 132 6 ,900 1 ,364 1 ,227 137 6 ,900 1 ,472 1 ,324 148 6 ,700 1 ,551 1 ,390 161 6 ,600 1 ,618 1 ,446 172 6 ,900 1 ,684 1 ,502 182 6 ,200 1 ,782 1 ,584 198 5 ,800 8 1 ,846 9 1 ,635 10 211 11 143 ,102 145 ,996 150 ,803 158 ,820 166 ,880 177 ,924 183 ,933 186 ,064 12 7 Total financial assets 8 9 10 11 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 178 ,418 1 70 , 125 19 ,235 27 ,590 23 ,300 2 3 4 5 13 Total liabilities 13 ,562 14 ,435 16 ,058 16 ,982 18 ,274 20 ,078 22 ,433 23 ,623 13 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 11 ,509 7 ,737 2 ,712 1 ,060 445 615 12 ,281 8 ,246 2 ,862 1 ,173 508 665 13 ,723 9 ,022 3 ,434 1 ,267 574 693 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 20 Trade debt 2 ,053 2 ,154 2 ,335 2 ,401 2 ,636 3 ,076 3 ,499 3 ,658 20 129 ,540 2 ,401 127 ,139 131 ,561 2 ,599 128 ,962 134 ,745 2 ,828 131 ,917 141 ,838 3 ,230 138 ,608 148 ,606 3 ,637 144 ,969 157 ,846 4 , 121 153 ,725 161 ,500 4 ,486 157,014 162 ,441 21 4 -820 157 ,621 23 98 ,871 102 ,540 108 ,171 116 ,116 122 ,708 131 ,529 138 ,360 139 ,693 24 21 Net worth 22 Corporate farms 23 Noncorporate farms 14 15 16 17 18 19 Memo: 24 Total real estate Nonfarm Noncorporate Business .Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 184 ,512 189 ,980 200 ,657 211 ,872 219 ,296 225 ,664 233 ,370 240 ,944 1 126 ,723 77 ,081 35 • 264 14 ,378 129 , 181 78 ,479 36 • 426 14 ,276 136 ,513 81 ,055 40 ,303 15 , 155 143 ,112 82 ,643 44 ,579 15 890 146 ,705 83 ,342 46 • 993 16 ,370 149 ,568 84 ,562 48 , 120 16 ,886 153 , 684 86 ,705 50 ,098 16 ,881 156 ,363 88 •475 51 ,270 16 ,618 2 3 4 5 57 ,789 60 ,799 64 ,144 68,,760 72 ,591 76 ,096 79 ,686 84 ,581 6 23 ,350 24,,018 24 ,300 26,' 079 26,,427 28 ,837 27,,268 27,,211 7 10,,907 11 ,200 11, 549 12, 356 13 ,641 12, 707 12,.415 8 9 10 11 12 13 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 10 ,377 2,,802 2,,804 2,,910 3, 066 3, 107 3,,110 3 :431 8,.233 81 174 7,,907 9, 051 8, 378 9 •377 8, 234 14 15 16 17 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 1,,938 1 .919 19 2, 133 2, 113 20 21 ,283 2,,262 21 2, 413 2, 392 21 2, 586 2, 560 26 2, 709 2, 677 32 2 •896 2, 856 40 3, 035 14 2, 987 15 48 16 17 245, 723 254, 501 260, 638 268, 155 18 18 Total assets - - - 8 9 10 3, 207 11 12 8, 554 13 207, 862 213, 998 224, 957 237, 951 19 Total liabilities 23, 297 25, 902 28, 920 30, 985 31,862 34, 000 35. 630 38, 345 19 20 21 22 23 24 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 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 24,880 13, 534 1, 938 9, 335 2, 261 27, 117 14,443 1, 703 10, 245 2,495 Credit market instruments Mortgages Home mortgages Multifamily Commercial 20 21 23 24 25 26 Bank loans n.e.c. Other loans 1, 782 5, 039 1,866 5, 236 2, 388 5,844 2, 993 6, 139 3, 078 6, 651 3, 239 6,859 3- 632 7, 714 3, 969 25 8, 705 26 27 28 Other taxes payable Trade debt 7, 269 8, 877 10, 060 10, 988 10, 987 11, 626 10, 750 27 11, 228 28 29 Miscellaneous liabilities 30 Net worth - - - - - - - - 29 184, 565 188, 096 196, 037 206, 966 213, 861 220, 501 225, 008 229, 810 30 152, 559 157, 556 165, 439 173, 945 179, 663 185, 217 192, 072 199, 566 31 Memo: 31 Total real estate Data are in millions of dollars. October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 27 Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Farm Business 1 184 ,962 192 ,244 201 ,468 209 ,964 226 ,785 237 ,794 250 ,584 262 ,714 2 3 4 5 70 ,946 19 ,186 27 ,960 23 ,800 73 ,044 19 ,091 28 ,753 25 ,200 74 ,381 18 ,795 29 ,886 25 ,700 74 ,736 19 ,129 31 ,107 24 ,500 80 ,492 19 ,179 33 ,313 28 ,000 83 ,516 20 ,011 36 ,105 27 ,400 87 ,017 20 ,517 38 ,600 27 ,900 93 ,008 22 ,070 41 ,838 29 ,100 6 114 ,016 119 ,200 127 ,087 135 ,228 146 ,293 154 ,278 163 ,567 169 ,706 7 7 ,731 7 ,865 7 ,825 8 ,217 8 ,497 8 ,704 9 ,067 9 ,646 8 9 10 11 5 ,800 1 ,931 1 ,704 227 5 ,900 I ,965 1 ,724 241 5 ,700 2 .125 1,,869 256 5 ,900 2 ,317 2 ,038 279 6 ,000 2 ,497 2 ,178 319 6 ,000 2 ,704 : 2,,339 365 6 ,100 2 ,967 2,,553 414 6 ,300 3 ,346 2 ,830 516 12 192 ,693 200:,109 209,,293 218,,181 235,,282 246,,498 259,,651 272 ,360 13 25 i ,322 27 ,626 31,,038 33,,827 37,,674 41 ,274 , 44,,377 46,,170 14 15 16 17 18 19 21. 558 13, 917 5, 305 2, 336 686 1, 650 23,,856 15 ,193 ! 6,,08 7 2,,576 736 1 ,840 26,,406 16,,822 6,,688 2, 896 797 2, 099 29,,009 18,• 942 6,.959 3, 108 861 2, 247 32,,311 21,,187 7,,667 3,,457 941 2,,516 35,,504 23,,052 8, 600 3, 852 929 2, 923 38,,815 25,,017 9,,300 4, 498 , 1 ,087 3, 411 41 , ,583 27,,177 9,-718 4,,688 1 ,034 , 3,,654 20 3, 764 3, 770 4, 632 4,818 5, 363 5, 770 5, 562 4,,587 21 22 23 167, 371 5« 2 94 162, 077 172, 483 5, 780 166, 703 178, 255 6, 299 171 ,956 184, 354 6, 793 177, 561 197, 608 7, 625 189, 983 205, 224 8, 159 197, 065 215, 274 8, 861 206, 413 226, 190 9, 682 216, 508 24 145,825 151, 495 159, 690 168, 749 180, 759 190, 738 201, 447 210, 983 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 6 7 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 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 Corporate farms Noncorporate farms 21 22 23 Nonfarm Noncorporate Business 1 247 ,608 257 ,071 265 ,377 279 ,761 294 ,810 319 ,046 332 ,654 361 ,384 2 3 4 5 159 ,364 91 ,048 52 ,717 15 ,599 165 ,313 94 ,537 54 ,996 15 ,780 170 ,112 97 ,334 57 ,649 15 , 129 180 ,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 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 8 9 10 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 14 15 16 17 6 88 ,244 91 ,758 95 ,265 99 ,483 103 ,451 111 ,894 114 ,146 119 ,004 7 27 ,755 27 ,624 27 ,579 28 ,205 28 ,572 29 ,442 30 ,359 29 ,654 8 9 10 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 13 14 15 16 17 18 — - - - - 3 , 1 35 3:,318 3 ,558 3 ,785 4 ,044 3 ,994 • 100 3 ,878 300 3 ,858 8 ,904 8 ,462 7 ,961 8 ,106 7 ,930 8 ,491 9 ,022 7 ,655 3 ,201 3 , 144 57 3 ,329 3 ,260 • 69 3,,545 3,,463 82 3,,799 3,,704 95 4,,083 3,,975 108 4,,442 4,,325 117 4 ,844 4 ,716 128 5 ,326 5 , 187 139 284,,695 292,,956 307,,966 323,,382 348,,488 363,,013 275 ,363 7 391 ,038 11 12 13 18 19 40,,262 42,,721 45,,236 50,,729 56,,887 61,,709 69,,040 ,583 Total liabilities 77, 77,583 19 20 21 22 23 24 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 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 73,,404 47,,833 2,.224 29,,449 16,,160 20 21 22 23 24 25 26 4, 345 8, 885 4, 716 9, 184 5, 308 10,.272 5, 806 11 ,551 6, 708 12, 799 8, 079 13, 783 8, 784 14,.190 9,.866 15,,705 Bank loans n.e.c. Other loans 25 26 27 28 10,.619 10, 049 8, 232 7,,495 6, 630 5, 086 5, 183 4, 179 Other taxes payable Trade debt 27 28 29 Credit market instruments Mortgages Home mortgages Multifamily Commercial Miscellaneous liabilities 30 235,.101 241, 974 247,.720 31 207,341 216,263 224,556 Data are in millions of dollars. 257,,237 266, 495 286, 779 293, 973 313, 455 307,138 Total real estate October 1990 Farm 8 Noncorporate Business 28 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Yeai—End Outstandings Year-End Outstandings 1972 Farm Business 1 Tangible assets 273 .174 281 ,288 303 ,422 343 ,224 428 ,741 475,728 534,159 614,883 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 100 ,796 23 ,387 45 ,609 31 ,800 104 ,326 23 ,998 49 ,228 31 ,100 114 ,556 25 ,515 53 ,641 35 ,400 130 ,499 27 ,165 59 ,034 44 ,300 161 ,583 29 ,703 66 ,380 65 ,500 178-765 33-620 82,745 62,400 190-870 35,656 90,914 64,300 200-593 38-804 101,589 60,200 2 3 4 5 6 Land 172 ,378 176 ,962 188 ,866 212 ,725 267 , 158 296,963 343,289 414,290 6 10 ,182 10 ,786 11 ,477 12 .413 13,850 14,847 16,273 7 6 ,400 3 ,782 3 ,211 571 6 ,515 4 ,271 3 ,649 6,940 6,910 5, 762 1 ,148 7,010 7,837 6,453 1,384 6,947 8 9,326 9 7,718 10 1-608 11 283 ,356 292 ,074 549-006 631,156 12 7 Total financial assets 8 9 10 11 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 12 Total assets 6 ,638 4 ,839 4 , 147 692 314 ,899 6 ,900 5 ,513 4 ,731 782 355 ,637 13 ,256 7 ,100 6 , 156 5 ,214 942 441 ,997 489,578 13 Total liabilities 48 ,827 51 .430 55 ,555 61 ,347 70 ,067 78. 199 87,475 98,321 13 14 15 16 17 18 19 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 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 56 ,813 35 ,361 14 ,306 7 , 146 1 ,050 6 ,096 65 ,410 39 ,806 17 ,165 8 ,439 1 ,241 7 ,198 73,319 44,922 18,236 10,161 1,313 8,848 82,136 49,853 20-199 12,084 2,089 9,995 92,180 55-412 23,230 13-558 2,226 11,312 20 Trade debt 4 • 210 3 842 3 ,991 4 ,534 4 ,657 4,880 5,339 6,141 20 21 Net worth 22 Corporate farms 23 Noncorporate farms 14 15 16 17 18 19 234 -529 10 403 224 126 240 644 10 • 889 229 755 259 , 344 11 ,923 247 ,421 294 ,290 13 ,769 280 ,521 371 • 930 17 ,988 353 • 942 411 ,379 20-912 390,467 461 ,531 25,106 436,425 532,835 21 30-680 22 502,155 23 217 ,097 224 ,525 240 .908 268 ,703 329 , 156 369,480 420,987 499,785 24 Memo: 24 Total real estate Nonfarm Noncorporate Busi ness 1 Tangible assets 392 ,318 417,,227 458 ,444 517,,207 597 ,266 687-699 741,703 822-646 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 267,• 688 155 • , 010 94 • . 332 18 346 288, 539 165 106 104- 299 19, 134 322 ,844 185,,471 115, 702 21 ,671 , 362 841 212, 013 126 814 24, 014 417,,059 246,,015 143,,735 27,,309 481,259 278,794 172,865 29,600 511-625 299,525 184,819 27,281 558-611 333,078 197,623 27,910 2 3 4 5 6 Land 124 • , 630 128, 688 135, 600 154,,366 180, 207 206,440 230,078 264-035 6 31 , .177 32, 495 39,• 665 46, 149 64, 436 69,236 71,085 79,890 7 7 Total financial assets 8 9 10 11 12 13 Checkable dep. currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 12, 515 500 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 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 21,171 19,763 9-490 1,515 4-321 4,151 22,009 8 9 10 11 12 13 14 15 16 17 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 5, 998 5,846 152 6, 682 6, 515 167 9, 476 7, 296 180 2, 000 12, 470 8, 2 78 192 4, 000 14- 196 9. 243 212 4 ,741 15-142 10,229 246 4-667 15,444 11-461 28 7 3,696 18,641 13,518 360 4,763 14 15 16 17 423, 495 449, 722 498, 109 563, 356 661 ,702 756,935 812,788 18 Total assets 902,536 18 19 Total liabilities 93, 585 106: 259 129, 001 162, 944 199, 496 240-694 260,117 286,312 19 20 21 22 23 24 88, 366 57 -658 2, 008 32, 910 22, 720 101 -457 70, 042 2, 153 38, 683 29, 206 121 ,58 7 88, 251 3, 050 46- 740 38, 461 151 ,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 67,894 152,377 3,635 70-069 78,673 246,470 164-062 5,018 73.937 85,107 11 ,696 19, 719 12, 604 20- 732 13, 667 23, 181 28, 647 27, 294 35,988 31,208 37-680 34,983 40-354 25 42,054 26 1 ,037 4, 377 489 5, 080 3- 985 17- 653 5,545 20-145 6,602 20-559 7,785 27 22,267 28 2, 000 4, 000 5, 539 6-945 7,916 9,790 29 Credit market instruments Mortgages Home mortgages Multi family Commercial 25 26 Bank loans n.e.c. Other loans 12, 054 18, 674 27 28 Other taxes payable Trade debt 5, 219 29 Miscellaneous liabilities 30 Net worth — - 4,802 - 20 21 22 23 24 329. 910 343, 463 369, 108 400, 412 462, 206 516,241 552,671 616,224 30 334, 432 354,843 390, 632 444, 125 515, 357 592,280 641,967 716,372 31 Memo: 31 Total real estate Data are in millions of dollars. October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost 29 Year-End Outstandings 1977 Year-End Outstandings 1978 1979 1980 1981 1982 1983 1984 Farm Business 1 677,,486 797,,878 927,,298 1022,,056 984,,468 992,.121 895,,162 Tangible assets 2 3 4 5 217 ,660 43 ,801 114 ,559 59,,300 257,,236 49,,624 133,,912 73 ,700 284,,969 54,,431 149,,838 80,,700 311,.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 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 6 459 ,826 540,,642 642 ,329 710 ,918 700,,560 661,,483 664,,676 565,,667 Land 6 7 18 ,087 20 ,154 22,,226 24 ,199 26 ,053 27,,859 29,,126 29,,365 Total financial assets 8 9 10 11 7 ,035 11 ,052 9 ,197 1 ,855 7 ,137 13 ,017 10 ,891 2,,126 7 ,284 14,,942 12 ,406 2,,536 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 12 695 ,573 818 ,032 949,,524 1046 ,255 1052,,487 1012,,327 1021,,247 1026,,434 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 1 7 8 9 10 11 924,,527 Total assets 12 13 112 ,962 130 ,833 155,,524 172,,305 193,,557 200 ,615 203,,784 202,,203 Total liabilities 13 14 15 16 17 18 19 105 ,939 63 ,949 25 ,729 16 ,261 3 ,502 12 ,759 , 122 ,194 72 ,757 28 ,211 21 ,226 7 ,009 14 ,217 145 ,723 86 ,755 31 ,033 27 ,935 10 ,391 17 ,544 161 ,477 97,,487 31,,566 32 ,424 13,,026 19,,398 177,,791 107,,229 32,,920 37 ,642 16,,420 21,,222 184 ,493 111 ,311 36,,135 37 ,047 16,,657 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 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 7 ,023 8 ,639 9 ,801 10 ,828 15,,766 16,,122 15,,395 14,,256 Trade debt 20 21 22 23 582 ,611 34 ,887 547 ,724 687 ,199 42 ,248 644 ,951 794 ,000 50,,440 743,,560 873 ,950 56 ,791 817,,159 858 ,930 56,,052 802,,878 811 ,712 53,,286 758,,426 817,,463 54,,030 763,,433 722,,324 Net worth Corporate farms 46 ,851 675 ,473 Noncorporate farms 24 556 ,547 655 ,968 767,»792 850,,109 851,,653 812,,110 821,,797 727,,740 Total real estate 21 22 23 Memo: 24 Nonfarm Noncorporate Business 1 953 ,995 1136,,511 1353,,885 1587,,847 1837 ,819 1934,,297 2061,,311 2219 ,481 Tangible assets 1 2 3 4 5 632,,947 384 ,099 219,,394 29 ,454 742,,235 448,,918 260 ,593 32,,724 867,,662 540,,884 291,,896 34 ,882 998 ,747 628,,290 336,,461 33,,996 1135 ,583 710 ,350 391 ,737 33,,496 1176,,119 722,,790 420,,209 33,, 120 1233 ,943 765 ,267 435 ,059 33 ,617 1316,,521 824 ,875 455 ,239 36,,407 2 3 4 5 6 321,,048 394,,276 486,,223 589,,100 702 ,236 758,,178 827 ,368 902,,960 7 96 ,564 117,,233 138,,892 147,,781 192 ,179 197,,769 230 ,555 278 ,531 Total financial assets 8 9 10 11 12 13 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 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 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 8 9 10 11 12 13 14 15 16 17 23 ,854 16 ,032 404 7 ,418 29 ,057 18 ,917 531 9 ,609 36 ,138 21,,805 643 13,,690 36,,760 24,,279 755 11,,726 55 ,301 26,,334 836 28,,131 41,,772 28,,362 865 12,,545 38,,107 23,,801 841 13 ,465 51 ,581 34,,838 861 15,,882 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 14 15 16 17 18 1050 ,559 1253,,744 1492,,777 1735,,628 2029,,998 2132,,066 2291,,866 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Land 2498,,012 Total assets 6 7 18 19 323,,877 378,,144 454 ,502 518,,980 575 ,601 662,,948 759,,783 908,,904 Total liabilities 19 20 21 23 24 278,,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 ,766 447,,805 292,,822 7 ,954 102 ,515 182 ,353 492,,163 316,,108 8,,544 103,,659 203 ,905 563,,987 393,,095 15,,056 114,,005 264,,034 645,,842 464,,070 39,,057 131,,165 293,,848 769,,006 552,,272 41,,056 157,,802 353,,414 20 21 22 23 24 25 26 46,,393 51,,370 59,,649 61,,860 72 ,815 72 ,037 75 ,267 79 ,716 85 ,467 90 ,588 75,,958 94,,934 75,,504 106,,268 92,,352 124,,382 Bank loans n.e.c. Other loans 25 26 27 28 8,,871 23,,823 9,,951 25 ,555 12 ,795 31 ,737 15 ,328 36 ,446 13 ,744 41 ,560 15,,235 45 ,322 17,,081 45,,786 18,,151 51,,483 Other taxes payable Trade debt 27 28 29 12,,633 16,,170 17 ,951 19 ,401 28 ,134 38 ,404 51,,074 70,,264 Miscellaneous liabilities 29 30 726,,682 875 ,600 1038,,275 1216,,648 1454 ,397 1469,,118 1532 ,083 1589,,108 Net worth 31 837 ,209 1002,,718 1201,,787 1420 ,872 1655,,019 1744,,349 1867,,172 2019,,341 Total real estate Credit market instruments Mortgages Home mortgages Multifamily Commercial 30 Memo: Data are in millions of dollars. 31 October 1990 Farm & Noncorporate Business 30 Farm 8 Noncorporate Business Sector Balance Sheets with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1985 1986 1987 1988 1989 Farm Business 800 ,930 755 ,541 761 ,097 800 ,819 833,,231 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant & equipment Inventories 313,,161 65 ,960 175 ,723 71,,478 302,,805 65 .749 170,,779 66,,277 301,,840 68,,099 168 221 65,,520 301 ,685 67 ,373 162 ,890 71 ,422 313,,524 69,, 127 166,,511 77,,886 2 3 4 5 6 Land 487,,769 452,,73d 459,,257 499 ,134 519,,707 6 35,,266 37,,649 40,,768 43,,524 8 ,524 29,, 125 26, 173 2,,952 8 ,750 32 ,018 28 ,998 3:,020 8,,992 34,,532 32,, 182 2,,350 1 Tangible assets 7 Total financial assets 8 9 10 11 Checkable dep. 8 currency Miscellaneous assets Insurance receivables Equity in spons. agencies 32,,033 8,,120 23,,913 19,,918 3,,995 8,• 314 26,,952 23,,536 3,,416 876,,755 12 153 ,327 156 ,345 13 137,,594 86 ,803 29 ,817 20 ,974 13 ,341 7 ,633 139,,238 85,,336 30,,782 23 - 120 13, 600 9,,520 14 15 16 17 18 19 15 ,733 17,,107 20 12 Total assets 832,,963 790,,807 798,,746 841 ,587 13 Total liabilities 187,,438 170,,793 160,,259 156, 607 95, 781 31,,240 29, 586 18 023 11, 563 145,,499 88,,869 29,.053 27,,577 17,,650 9,,927 14,,760 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 23 173,,438 105,,850 35,• 507 32 1 ,081 18,, 189 13, 892 14,,000 14,, 186 7 8 9 10 11 645 ,525 42,,597 602,,928 620, 014 42, 057 577,-957 638,,487 44 ,787 593,,700 688 ,260 50 ,366 637,,894 720,,410 54,-625 665,,785 21 22 23 650,,006 614, 740 625 020 663 ,766 688 037 24 Memo: 24 Total 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 2370, 320 2514 ,609 2696 ,682 2 788 ,706 2940 ,716 1 1389,.151 874,,619 475, 690 38, 842 1438 ,822 908 ,664 492:,282 37 ,876 1545 985 518 41 ,718 833 ,213 ,672 1593,,138 1005 ,163 542 ,912 45 ,063 I 686,659 1067 ,064 571 ,581 48 ,014 2 3 4 5 981,• 169 1075 ,78 7 1150 ,964 1195,,568 1254 ,057 6 317, 291 355 ,842 368 ,903 387 ,324 406 411 7 8 9 10 11 12 13 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 61, 297 76, 585 5,• 754 5, 841 43, 983 65- 858 67 ,283 87 ,798 6 ,940 6 • 166 46 ,676 72 ,211 71 288 82 ,798 7 ,540 6 ,491 45 ,004 77 ,011 75 ,397 84 486 8 , 140 6 ,856 43 ,332 81 811 78 ,622 89 ,617 8 ,740 6 ,767 41 ,660 86 ,611 8 9 10 11 12 13 14 15 16 17 Miscellaneous assets Insurance receivables Equity in spons. agencies Other 57, 973 38, f42 833 18, 498 68 ,763 43 ,451 771 24 ,541 78 ,771 49 ,497 733 28 ,541 87,,302 54 ,077 733 32,,492 94 ,394 57 ,339 800 36 ,255 14 15 16 17 18 Total assets 2687, 611 2870 ,451 3065,,585 3176,,030 3347 ,127 18 19 Total liabilities 1054, 521 1162 ,740 1253,,788 1335,,736 1397 ,892 898, 338 663, 275 44 ,806 191 ,272 427, 197 997, 554 739,,564 46,,727 224,,053 468,,784 1075,,436 789, 592 47,,642 247,-112 494 838 1145 829 47 262 518 1195 864 45 279 539 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial .112 ,133 ,715 ,810 ,608 19 892 ,769 920 • 599 ,250 20 21 22 23 24 25 26 Bank loans n.e.c. Other loans 98- 510 136, 553 110,,207 147, 783 120,,869 164, 975 128,,927 187 ,052 133 . 144 197,,979 25 26 27 28 Other taxes payable Trade debt 21, 596 56, 858 23,,269 61,,082 24 869 64, 648 26 ,469 67,,320 28 ,069 69,,096 27 28 29 Miscellaneous liabilities 77, 729 80, 835 88 835 96,,835 104, 835 29 30 Net worth 1633, 090 1707,,711 1811 ,797 1840,,294 1949, 235 30 31 Total real estate 2164, 881 2305,,933 2480,,292 2559,,771 2701, 585 31 Data are in millions of dollars. October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 31 Year-End Outstandings Year-End Outstandings 1947 1948 1949 1950 1952 Nonfinancial Corporate Business, Excluding Farms 2 3 4 5 135 ,455 168 ,284 201 ,302 223 ,906 229 ,592 259 ,005 289 ,286 305 ,321 Tangible assets (current cost) 305,321 1 115 ,599 2 ,973 83 ,814 28 ,812 146 ,192 3 ,416 102 ,366 40 ,410 176 ,017 3 ,932 123 ,608 48 ,477 196 ,167 4 ,219 138 ,129 53 ,819 199 ,910 4 ,385 146 ,138 49 ,387 226 ,390 4 ,725 161 ,446 60 ,219 253 ,285 4 ,981 178 ,604 69 ,700 266 ,321 5 ,069 190 ,438 70 ,814 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 19 ,856 22 ,092 25 ,285 27 ,739 29 ,682 32 ,615 36 ,001 39 ,000 7 69 ,006 67 ,420 76 ,167 81 ,670 85 ,601 102 ,421 1:0 ,491 115 ,957 8 9 10 11 12 13 14 15 16 38 .652 18 ,959 900 33,,594 19,,502 900 35 ,155 21,,434 900 36 ,256 21 ,861 : 900 39,,260 22,,903 900 43 ,844 24 ,222 900 46 ,437 25 ,859 900 46 ,271 26 ,641 900 33 18,,508 252 68 12, 779 313 32 51 12,,291 350 129 10 12,,853 452 180 10 14,,697 485 265 57 17,,870 652 143 91 18,,653 844 90 75 17,,64 7 813 195 17 18 19 20 21 22 23 24 2,,523 2, 994 3,,643 4,,246 4,.646 5,,581 6,,190 7,,068 20, 092 739 227 418 22, 906 7, 926 7,227 676 28,,030 9,.339 8, 366 956 30,.259 10,.909 9, 625 1, 192 29, 471 12, 224 10, 700 1, 383 39,,593 13,.403 11,.788 1, 418 42, 989 14, 875 12, 979 1, 548 45,.849 16,.769 14,.721 1, 666 Land 6 7 Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 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 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial 27 28 29 30 31 32 33 94 23 17 92 141 197 348 382 204, 461 235, 704 277, 469 305, 576 315, 193 361, 426 399, 777 421, 278 26 71 ,559 81 ,118 94 ,233 103 ,179 102 ,514 125 ,622 139 ,851 145 ,451 27 28 29 43 ,627 49 ,667 56 ,974 63 ,294 65 ,117 71 ,885 80 ,655 87 ,506 23 ,905 8 ,636 291 2 ,081 6,,264 24 ,858 10 ,215 659 2 ,254 7,,302 27 ,671 11 ,694 872 2,,512 8 ,310 31 ,971 13 ,074 1 ,093 2 ,949 9 ,032 34 ,874 13 ,861 1 ,031 3 ,532 9 ,298 36 ,498 15 ,135 1 ,428 4 ,267 9 ,440 39 ,792 16 ,179 1 ,364 4 ,937 9 ,878 44 ,497 17,,215 1,,587 5,,353 10,,275 8,,875 12,,465 15,,535 16,,137 14,,245 17 ,923 22,,120 22,,909 95 134 1,,335 647 137 191 1,,308 493 172 187 1,,190 525 166 190 1,,245 511 162 214 1,,123 638 207 275 1,,231 616 269 313 1,,348 634 331 335 1,,564 655 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 10,,828 14,,597 2,,507 8,,807 20,,141 2,,503 11,.264 23,.392 2,.603 12,,118 24, 980 2,.787 9, 738 24, 718 2, 941 17,,252 33,,094 3,,391 21,.922 33,.616 3,.658 18, 672 35, 328 3, 945 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 132,,902 154, 586 183, 236 202, 397 212, 679 235, 804 259, 926 275, 827 Net worth 43 144,164 152,984 Total corp. real estate 44 Market value of equities, 149,941 including corp.farm equities (Net worth of corporate farms, 2,345 from farm sector table) 46 31 32 33 34 35 36 39 45 87,770 83,210 84,922 83,862 92,205 116,647 138,250 46 1,265 1,548 1,672 1,697 1,627 r,oio 2,246 47 48 32.8% 49.7% 32.1% 59.6% 31.0% 67.0% 31.2% 75.4% 30.6% 70.6% 30.4% 61.6% 31.0% 58.3% 49 66.0% 53.8% 46.3% 41.4% 43.3% 49.4% 53.1% 50 98, 123 116, 290 133,.604 149, 148 154, 658 174, 438 196, 820 210, 204 Tangible assets 50 51 52 53 54 90, 340 1, 654 62, 369 26, 317 108, 017 1, 700 68, 771 37, 546 125, 029 1,800 78, 544 44, 685 140, 329 1, 963 89, 476 48, 890 145, 645 2, 129 98, 203 45, 313 165, 131 2, 314 107, 716 55, 101 187, 192 2, 422 119, 918 64,852 200, 837 2, 519 132, 216 66, 102 51 52 53 54 31.7% Debt-net worth ratio (27/43) 58.3% Debt-equities ratio (27/45) Ratio of market value 54.3% to net worth (45/43) 45 47 48 49 Tangibles and net worth on historical cost basis: Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 55 7, 783 8, 273 8, 575 8, 819 9, 013 9, 307 9, 628 56 167, 129 183, 710 209, 771 230,818 240, 259 276, 859 307, 311 326, 161 Total assets 56 57 95, 570 102, 592 115, 538 127, 639 137, 745 151, 237 167, 460 180, 710 Net worth 57 58 46, 468 49, 029 52, 235 56, 605 60, 644 64» 902 70, 629 59 45,.6% 48 .4% 49 .3% 49 .5% 47 .2% 47 .5% 9, 367 Land 55 Memo: Data are in millions of dollars. 48t . 1 % 76, 164 Total real estate 48 .4% Debt-net worth ratio (27/57) 58 59 October 1990 Nonfinancial Corporate Business 32 Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1957 1958 Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current cost) 322 ,329 335 ,663 367 ,243 410 . 150 439 ,428 453 ,054 476 ,794 493,127 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant & equipment Inventories 279 ,342 5 ,113 201 ,519 72 ,710 287 ,370 5 ,206 210 ,906 71 ,258 314 ,308 5 ,359 230 ,029 78 ,920 349 ,833 5 ,462 257 ,416 86 ,955 371 ,552 5 542 277 ,239 88 ,771 378 ,434 5 , 750 285 ,911 86 ,773 396 ,387 6 ,076 297 578 92 ,733 407,623 6,348 305,685 95,590 2 3 4 5 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 42 ,987 48 ,293 52 ,935 60 ,317 67 ,876 74 ,620 80 ,407 85 ,504 119 ,052 124 ,627 142 ,089 147 ,210 151 ,876 163 -502 178 ,716 181,736 48 ,013 26,>550 900 48 ,373 28 • 329 1 ,100 , 53, 428 29, 282 1 ,000 48 :893 28 990 li,000 48 458 29 ,024 1,,000 50 ,992 30 .083 1 ,900 , 56 , 185 29 ,196 1 ,500 114 19, 240 1 ,005 204 158 1 7•,523 972 291 129 21 ,581 1 ,219 217 138 17, 118 1 ,342 305 131 16, 389 1, 479 435 149 16,,692 1,,958 210 132 ,821 1 ,794 742 7, 327 7, 672 8, 359 8, 667 8 .692 8, 848 10,, 141 45,003 18, 709 16- 253 1 ,786 48, 388 20, 194 17, 631 1 ,866 63, 789 25, 861 505 2, 393 13 950 65, 414 29, 312 25, 394 2, 965 32 921 71 ,812 31 •850 27, 409 3, 511 38 892 77, 363 35,, 027 29, 827 4, 081 51 1, 068 557, 360 591 ,304 616, 556 655, 510 51,429 8 28,243 9 3,000 10 - 148 16,868 2,382 788 11 12 13 14 15 16 9,643 17 - 18 670 697 57, 988 22, 314 19, 395 2, 034 2 883 25 Total assets 441 ,381 460, 290 509, 332 26 Total liabilities 150,363 154 ,439 176 ,307 189 ,299 198 ,502 208 ,404 226 ,924 237 ,906 26 91 ,827 96 ,541 104 ,998 115 ,396 124 ,982 133 ,378 143 ,681 48,012 18,101 1,547 5-670 10,884 51 ,547 19 ,732 1 ,8 72 5 ,939 11 ,921 54 ,564 21 ,598 2 ,016 6 ,348 13 ,234 58 ,040 23 1 ,788 6 ,632 14,805 64 ,072 24 -857 1 ,671 6 ,855 16 ,331 69 ,715 27 ,714 1 ,823 7 ,611 18 ,280 72 ,794 30 ,800 1 ,938 8 ,518 20 ,344 153 ,656 27 28 76 -216 29 33 ,448 30 1 ,703 31 9 ,289 ,456 33 21 ,694 25 ,577 30 ,658 31 ,866 31 ,527 35 ,259 531 602 1 ,629 806 362 332 1 ,881 684 378 490 1 ,923 682 619 2 ,405 741 658 582 2 ,430 752 18 ,102 50 ,342 5 ,459 15 ,971 51 ,839 5 ,710 13 ,378 55 ,533 6 • 115 15 -817 60 6 ,604 13 ,615 63 , 725 6 ,910 42 408 , 152 428 ,586 436 ,957 43 27 28 29 30 31 32 33 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi family Commercial 82,291 38,373 31,865 4,672 72 1,764 19 20 21 22 23 24 34 35 36 37 38 39 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab. to banks Nonbank finance loans U.S. government loans 22,357 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 19,271 35,014 4,251 15 ,988 37 ,277 4 ,633 43 Net worth 291 ,018 305 ,851 333 ,025 368 ,061 392 ,802 44 Total corp. real estate 161,351 170,, 748 185:,168 205 ,974 652 232 ,381 243 ,248 251 •107 , 44 Market value of equities, 45 including corp.farm equities (Net worth of corporate farms, 46 from farm sector table) 144,776 216, 033 269, 173 289, 169 242 470 342,,082 361, 299 354 -114 45 2,401 2, 599 2, 828 3, 230 3, 637 4,• 121 4- 486 4 :820 46 31.5% 63.4% 31 .5% 4<i.6% 31.5% 39.0% 31. .3% 39.9% 31. .8% 5]. .5% 32.6% 38.9% 33.5% 39.7% 35 . 1% 43.3% 48 49.7% 70.6% 80.8% 78.5% 61 .7% 83.8% 84 .3% 81 . 0% 49 47 Debt-net worth ratio (27/43 ) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) 402 376 1,626 953 20 ,085 46 , 148 5 ,076 315 593 3 , 141 779 37 ,438 24 35 769 3 6 834 37 4 - 095 38 856 39 cal cost basis: 50 Tangible assets 226,060 236, 438 256, 302 281, 919 302, 897 313, 898 335. 052 354, 625 50 51 52 53 54 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 216, 141 2,627 145 , 603 67,911 174 732 157, 140 66, 302 245, 383 2,84 7 169, 571 72, 965 269 ,788 2, 959 186, 287 80, 542 290, 021 3- 107 204, 323 82, 591 299, 508 3, 392 215 -807 80, 309 319- 055 3 -771 228, 835 86, 449 337- 109 51 4, 243 ,555 89, 450 54 55 Land 9,919 10- 264 10, 919 12, 131 12,876 14, 390 15, 997 17, 516 55 56 Total assets 345-112 361, 065 398, 391 429, 129 454, 773 477, 400 513, 768 536, 361 56 57 Net worth 194,749 206, 626 222, 084 239, 830 256, 271 268, 996 286, 844 298, 455 57 83,136 89, 383 96, 053 105, 633 115, 003 123, 312 131, 497 140, 295 58 47.1% 46 .7% 47 .2% 48 .1% 48 .7% 49 .5% 50 .0% 51 .4% 59 Memo: 58 Total real estate 59 Debt-net worth ratio (27/57) Data are in millions of dollars. October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 33 Year-End Outstandings Year-End Outstandings Nonfinancial Corporate Business, Excluding Farms 1 508, 703 526, 992 547, 273 575, 931 617, 310 677, 631 726, 697 789,688 789,,688 Tangible assets (current cost) 2 3 4 5 417, 577 6,,758 313,,054 97, 765 433, 950 7, 361 323, 808 102, 781 452, 258 8, 014 3351 565 108, 679 477, 825 8, 984 353, 063 115, 778 515, 953 9,804 380, 952 125, 197 572, 620 10, 891 420, 288 141, 441 621, 452 11, 650 457, 427 152,,375 684,,442 13,,580 505,,854 165,,008 Reproducible assets Residential structures Nonres, plant 8 equipment Inventories 6 91,,126 93,,042 95, 015 98, 106 101, 357 105,,011 105, 245 105,,246 7 194,,579 206, 757 222, 448 237, 308 259, 125 272,,722 289,,197 320*072 320,,072 Total financial assets 8 9 10 11 12 13 14 15 16 54,,837 31,,673 4,,100 57, 937 34, 564 5,,000 61, 337 33, 427 5, 687 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,,056 236 15,,344 2 ,395 1 ,089 790 13, 582 2, 697 1,,304 731 16, 736 3,,787 969 309 1, 097 15,.481 3,,680 1,,694 593 781 13,,786 4,,600 1,,370 895 885 12,,081 3,,639 2,,852 670 1,,055 9,,619 3,,300 3,,952 1,,121 1,,587 10,,393 3,,782 5,,099 9 ,638 13,,704 635 141,,575 70,, 188 55,,329 7,,999 134 6,,726 13,,822 845 160,,097 76,,739 58,,547 8 ,788 160 9 ,244 Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 1 2 3 4 5 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 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi family Commercial 27 28 29 30 31 32 33 17 18 19 20 21 22 23 24 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 11,,368 203 99,,057 50, 483 40,,736 6,,031 90 3,,626 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 25 703,,282 733,,749 769,,721 813,,239 876,,435 950 ,353 1015,,894 1109 ,760 26 253 ,348 270,,270 292,,239 312,,850 346,,485 380:,764 409,,221 456 ,976 27 28 29 30 31 32 33 163 ,509 176,,101 188,,321 200,,822 219 ,805 243 ,165 268 ,089 295 ,026 80 ,611 37 ,442 1 ,821 10 ,363 25 ,258 84,,643 42 ,084 2,,001 11,,413 28 ,670 88,,414 46,,780 2,,002 12,,403 32,,375 92 ,408 49 ,475 1,,902 13,,657 33 ,916 97 ,260 51:,685 1,,997 14,,522 35 ,166 107 ,474 54 ,525 1 ,598 15 ,247 37 ,680 122,,132 56,,626 2,,102 16:,050 38 ,474 135:,025 58 ,847 2 ,224 17 ,082 39 ,541 34 38 ,349 41 ,862 45 ,322 49 ,884 60 ,730 69 ,136 75:,631 85 ,429 36 37 38 39 1 ,094 895 4 ,196 922 1 ,198 898 4 ,281 1 ,135 968 665 4 ,989 1 ,183 1 ,125 764 5 ,784 1 ,382 797 891 6 ,766 1 ,676 1 ,622 1 ,063 7 .303 2 ,042 3 ,034 1 ,304 7 ,129 2 ,233 4 ,249 1 ,574 8 ,245 1 ,657 Bank loans n.e.c. 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 14 ,995 67 ,452 7 ,392 15 ,941 70 ,616 7 ,612 17 ,508 78 ,466 7 ,944 18 ,007 85 ,658 8 ,363 20 ,169 97 ,714 8 ,797 20 ,374 108 ,171 9 ,054 15 ,647 115 ,562 9 ,923 18 .508 132 ,627 10 ,815 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 449 ,934 463 ,479 477 ,482 500 ,389 529 ,950 569 .589 606 ,673 652 ,784 44 260 ,919 267 ,707 274 ,676 286 ,135 303 ,361 324 .913 340 .778 366,540 366 ,540 Total corp. real estate 45 428 ,294 389 ,171 456 ,076 509 ,516 553 ,720 504 .223 651 * 678 Market value of equities, 736 ,506 (Net worth of corporate farms, 9,682 from farm sector table) 47 48 36.3% 38.1% 37.9% 45.2% 39.4% 41.2% 40.1% 39.4% 41.4% 39.6% 42.6% 48.2% 44.1% 41.1% 49 95.1% 83.9% 95.5% 101.8% 104.4% 88.5% 107.4% 372,,784 394,,837 418,,173 445,,602 482,,941 531,,893 574,,619 620,,903 Tangible assets 353,,214 4,,573 256,,541 92,,100 373,,409 5,,232 270,,794 97,,383 542,,245 9,,013 386 ,579 146:,653 586,,239 10,,117 418,,144 157,,978 45.1% Debt-net worth ratio (27/43) 40.0% Debt-equities ratio (27/45) Ratio of market value 112.8% to net worth (45/43) 46 47 48 49 Tangibles and net worth on historical cost basis: 50 51 52 53 54 394,,887 6,,067 285,,646 103,,174 420,,328 6,,915 303,,428 109,,985 455,,091 7,,717 327,,914 119,,460 501,,694 8,,412 357,,939 135,,343 34,,664 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 55 19,,570 21,,428 23,,286 25 ,274 27,,850 30,,199 32 ,374 56 567,,363 601 ,594 640,,621 682 ,910 742 ,066 804,,615 863 ,816 940,,975 Total assets 56 57 314,,015 331 ,324 348 ,382 370 ,060 395,,581 423,,851 454 ,595 483,,999 Net worth 57 166,,887 176 ,865 204 ,334 218 ,651 233,,756 Total real estate Memo: 58 149 ,255 52.0% 158,,019 53.1% Data are in millions of dollars. 54.0% 189 ,850 60.9% Debt-net worth ratio (27/57) 58 59 October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 34 Year-End Outstandings Year-End Outstandings Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current cost) 865,189 934,126 007,242 1087,014 1228 ,528 1516 ,552 1643,926 1795 ,527 2 3 4 5 Reproducible assets Residential structures Nonres. plant S equipment Inventories 756,310 15,704 558,356 182,250 822,615 17,256 615,283 190,076 892,780 19,828 672,219 200,733 964,227 20,591 726,357 217,279 1093 ,398 22 ,152 811 ,430 259 ,816 1358 ,637 23 ,618 1003 , 704 331 ,315 1480,110 23,680 1119,183 337,247 1617 , 982 2 24 ,884 3 1217 ,926 4 375 ,172 5 6 Land 1 108,879 111 ,511 114 ,462 122 ,787 135 ,130 157 ,915 163,816 177 ,545 6 351,827 370 ,274 406 ,708 456 ,211 526 ,810 517 ,494 558,515 612 ,893 7 69,008 43,122 3,652 69 494 44 ,059 5 ,347 78 ,819 42 ,581 9 ,509 88 ,015 44 ,938 11 ,890 100 • 960 46 ,315 16 ,623 105 ,407 47 ,772 20 ,464 125,170 53,927 22,351 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 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 19,627 139 ,778 56 ,365 24 ,413 7 ,048 7 ,441 16 ,421 3 ,419 24 ,671 8 9 10 11 12 13 14 15 16 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 17 ,954 732 230 ,251 119 .259 81 ,503 13 ,729 377 23 ,650 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 17 18 19 20 21 22 23 24 1217,016 1304 ,400 1413 ,950 1543 ,225 2034,,046 2202,441 2408, 420 25 26 Total liabilities 504,097 537 ,391 577,,138 631 ,713 736, 303 730,. 155 751,675 806, 519 26 27 28 29 30 31 32 33 324,014 352 ,491 147,000 58,038 2,008 18,551 37,479 166,, 756 58,918 2,. 153 19, 750 37, 015 377,,799 86 185,-563 61 • , 422 3, 050 21 ,672 36, 700 409 . 186 634 197,, 750 64,-183 3, 626 24, 457 36, 100 467 ,381 2, 430 206, 909 89, 542 3, 226 26, 914 59, 402 517, 784 4, 078 226, 579 85, 458 3, 008 28, 3 08 54, 142 532,767 6,678 253,783 86,958 3,635 28,798 54,525 570, 170 9, 163 276, 614 93,826 5- 018 29, 950 58, 858 27 28 29 30 31 32 33 34 35 36 37 38 39 7 Total financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 Total assets Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multi family Commercial 19 , 180 775 269 ,293 136 ,602 91 ,715 15 ,689 396 28 ,802 1755, 338 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 98,834 103, 628 107, 679 120, 453 5,356 2,282 10,730 1,774 7, 133 3, 090 10. 907 2, 059 6, 247 3- 619 11, 579 1, 604 6, 968 3, 672 13, 681 1,845 137, 050 32 8, 382 4, 736 16. 162 2, 138 159, 407 253 12, 513 7-247 18, 582 3, 667 143,514 325 9,616 7,580 20,440 3,873 140, 072 495 11 -04 9 10- 165 24- 750 4, 056 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 15,202 153,063 11,818 11 ,472 160, 158 13, 270 13, 345 172, 080 13, 914 13, 253 194, 406 14,868 15, 631 232, 735 20. 556 16, 717 170, 510 25, 144 14,573 176,673 27,662 19- 950 40 185, 629 41 30, 770 42 43 Net worth 712,919 767, 009 836, 812 911 ,512 1019, 035 1303, 891 1450,766 1601 ,901 43 44 Total corp. real estate 400,463 433,867 473, 942 513, 962 Market value of equities, 45 including corp.farm equities (Net worth of corporate farms46 from farm sector table) 646,230 648, 492 758, 897 855, 233 678,436 499,098 684,337 787,807 45 10,403 10, 889 i 11, 923 13, 769 17,988 20,912 25,106 30,680 46 45.4% 50.1% 45 .9% 54 .3% 45 . 1% 49 .7% 44 .8% 47 .8% 45.8% 68.8% 39.7% 103.7% 36.7% 77.8% 35.5% 47 72.3% 48 90.6% 84 .5% 90 .6% 93 .8% 678,205 724,691 769,851 828,166 919,113 1046,075 1111,612 1211,128 50 $ 1 3 1 1 = S I I ® | ' B i n 47 Debt-net worth ratio (27/43) 48 Debt-equities ratio (27/45) Ratio of market value 49 to net worth (45/43) 810,047 44 Tangibles and net worth on historical cost basis: 50 Tangible assets j| 55 = La 3 5 5 = . "d 1 $ 1 38,922 40,571 42,509 45,580 49,898 55,787 54,965 56,479 55 1030,052 1094,965 1176,559 1284,577 1445,925 1565,567 1670,127 1824,021 56 57 Net worth 525,955 557,574 599,401 652,664 709,620 833,412 918,452 1017,502 57 58 Total real estate 253,130 270,285 287,174 305,508 329,331 355.847 380,691 406,341 58 61.« 63.2% 65.0% 62.6% 65.8% 62.1% 58.0% 56.0% 59 56 Total assets 59 Debt-net worth ratio (27/57) Data are in millions of dollars. October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost 35 Year-End Outstandings Year-End Outstandings 1977 1978 1979 1980 1981 1982 1983 1984 Nonfinancial Corporate Business, Excluding Farms 1 1993, 945 2305,779 2613,313 2983,280 3356.918 3501, 990 3605, 531 3843,923 Tangible assets (current cost) 2 3 4 5 1793, 799 27, 591 1349, 279 416, 929 2071,336 32,111 1557,408 481,817 2346,852 35.357 1752,240 559,255 2666,116 38,190 2007,110 620,816 2987,883 40,580 2273,365 673,938 3101, 962 39,828 2403, 043 659, 091 3181, 058 41, 587 2465, 263 674, 208 3380,472 43,505 2596,068 740,899 6 200, 146 234,443 266.461 317,164 369,035 400, 028 424, 473 463,451 7 672, 704 780,661 910,165 1015,422 1116,079 1141, 734 1256,813 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 1354,520 Total financial assets 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 8 9 10 11 12 13 14 15 16 143, 641 59, 207 29, 215 200 8, 256 8, 742 10, 026 3,468 24, 527 162,321 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 26,695 196,502 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, 737 301, 914 61, 943 70, 645 11, 153 48, 387 25, 680 38, 498 4, 201 41, 407 326,045 74,625 74,372 16,062 48,837 20,593 42,674 4,066 44,816 Liquid assets Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 17 18 19 20 21 22 23 24 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 24,728 1,060 434,309 279,248 178,240 38,949 633 61,426 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, 501 544, 409 377, 400 215, 934 53,,493 723 107,.250 30,632 7,193 592,477 398,173 221,941 58,635 724 116.873 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 25 2666,,649 3086,440 3523,478 3998,702 4472,997 4643, 724 4862,.344 26 898,,163 1027,384 1157,976 1289,881 1435,706 1490,,164 1623,.837 1862,791 Total liabilities 27 28 29 30 31 32 33 638,,630 17,,377 299,,491 106,,444 6,,778 31,,974 67,,692 706,098 25,041 320,607 116,102 7,573 34,714 73,815 773,535 35,028 337,915 105,901 7,035 37,197 61,669 828,781 45,892 365,570 84,977 5,954 38,648 40,375 926,605 59,323 388,331 80,495 4,544 37,408 38,543 970,.006 74,,466 406,,997 34,-790 5,,056 30,,766 -1,,032 1049,,437 83,,897 422,,980 50,• 316 5,,057 27,,597 17,,662 1223,863 104,439 469,058 52,600 5,056 25,823 21,721 34 35 36 37 38 39 154 ,918 645 12 ,808 11,,442 31 ,479 4 ,026 175,120 901 15,499 9,908 37,206 5,714 204,270 2,888 24,518 13.842 42,265 6,908 230,332 4,199 28,026 17,076 44,333 8,376 261,678 13,095 42,722 21,448 49,942 9,571 318,,498 15,,612 37,,614 20,,666 50,,512 10 ,851 340,,892 18,,290 36 ,775 27 ,641 58 ,246 10 ,400 391,134 31,339 58,490 30,432 74,771 11.600 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 17 ,826 207 ,112 34 ,595 19,871 258,944 42,471 20,224 309,755 54,462 30,305 347,749 83,046 24,016 376,371 108,714 14 ,196 381 ,285 124 ,677 19 ,053 418 ,288 137 ,059 22.361 451,986 164,581 Profit taxes payable Trade debt Foreign direct inv. in U.S. 40 41 42 43 1768 ,486 2059,056 2365,502 2708,821 3037,291 3153 ,560 3238 ,507 3335,652 Net worth 44 894 ,110 1042,543 1157,139 1324,800 1503,766 1583 ,428 1637 ,661 1745,630 Total corp. real estate Market value of equities, 1617,733 including corp.farm equities (Net worth of corporate farms, from farm sector table) 46.851 5198.443 Total assets Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial 25 26 27 28 29 30 31 32 33 43 Memo: 45 748 ,002 773,143 933.373 1293,116 1214,845 1382 ,773 1638 ,730 46 34 ,887 42,248 50,440 56,791 56,052 53 ,286 54 ,030 36.6% Debt-net worth ratio (27/43) 75.6% Debt-equities ratio (27/45) Ratio of market value to net worth (45/43) 48.4% 44 45 46 47 48 47 48 36.1% 85.3% 34.2% 91.3% 32.7% 82.8% 30.5% 64.0% 30.5% 76.2% 30.7% 70.1% 32.4% 64.0% 49 42.2% 37.5% 39.4% 47.7% 39.9% 43.8% 50.6% 50 1334 ,403 1497,745 1690.633 1879,332 2086,898 2206 ,488 2339 ,285 2561.120 Tangible assets 51 52 53 54 1274 ,988 15 ,069 876 ,462 383 ,457 1434,108 15,348 982,063 436,697 1623,381 15,730 1110,306 497,345 1805,510 16,054 1241,496 547,960 2005,222 16,305 1392,792 596,125 2119 ,370 16 ,718 1525 ,173 577 ,479 2244 ,497 17 ,117 1639 ,909 587 ,471 2457.828 18.140 1789,575 650,113 55 59 ,415 63,637 67,252 73,822 81,676 87 ,118 94 ,788 103,292 56 2007 ,107 2278,406 2600,798 2894,754 3202,977 3348 ,222 3596 .098 3915,640 Total assets 56 57 1108 ,944 1251,022 1442.822 1604,873 1767,271 1858 ,058 1972 ,261 2052.849 Net worth 57 58 434 ,695 469.517 519.252 575,961 645,530 714 ,298 767 ,369 59 r 7.5% 56.4% 53.6% 51.6% 52.4% 52.2% 53.2% 49 Tangibles and net idorth on historical cost basis: 50 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 Memo: Data are in millions of dollars. 835.410 Total real estate 59.6% Debt-net worth ratio (27/57) 58 59 October 1990 Nonfinancial Corporate Business 36 Nonfinancial Corporate Business Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1986 Nonfinancial Corporate Business, Excluding Farms 1 Tangible assets (current cost) 3992 ,822 4150 ,772 4380 ,424 4634,899 4873,847 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 3498 ,631 44 ,866 2700 ,543 753 ,222 3624 ,653 45 ,743 2829 ,795 749 ,115 3827 ,696 48 ,761 2967 ,240 811 ,695 4058,366 48,998 3129,356 880,012 4271,086 51,552 3294,622 924,912 6 Land 7 Total financial assets 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Liquid assets Checkable dep. 8 currency Time deposits Money market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables Equity in spons. agencies Other 3 4 5 494,191 526 ,119 552 ,728 576,533 602,761 6 1444 ,400 1608 ,582 1745 ,579 1865,575 1982,723 7 355 ,299 94 ,043 80 ,292 14 ,520 58 • 346 18 ,844 39 , •030 4,, 902 45, 322 416 ,098 112 ,832 87 ,509 18 • 122 70 ,500 24,,772 53 ,494 7, 968 40, 901 440 -819 120 ,399 91 ,591 18,,945 71,, 329 24,• 333 57, 044 10, 532 46, 646 435,673 135,430 91 ,569 15,648 79,538 13,121 51 ,335 12,029 37,003 452,940 133,126 97,325 19.692 78,371 17,556 56.402 9,020 41,448 8 9 10 11 12 13 14 15 16 32, 302 10, 799 634, 203 411 ,797 237, 671 63, 739 831 109, 556 32, 409 15, 676 663, 659 480, 740 262, 353 83, 893 913 133, 581 35, 162 12,817 725, 167 531, 614 313, 012 94, 781 1,289 122, 532 36,481 10,627 78 6,684 596, 110 329,478 105,757 1 ,295 159,580 35.403 13,787 812,759 667,834 363-304 123,159 1 ,307 180,064 17 18 19 20 21 22 23 24 25 Total assets 6126,003 6500,474 6856,570 26 Total liabilities 2051 ,519 2312 ,803 2542 ,318 2816 ,750 3082 ,510 27 28 29 30 31 32 33 1362 ,391 127 ,039 542 ,606 33 ,599 4 ,806 21 ,690 7 ,103 1570 ,603 117 ,138 669 ,430 61 , 656 6 ,727 22 ,193 32 ,736 1724 ,620 116 ,224 748 ,796 102 ,267 7 ,642 22 , 924 71 ,701 1899 ,528 116 ,292 851 ,697 100 ,163 7 ,715 23 ,909 68 ,539 2064 ,757 115 , 151 925 , 354 111 ,473 5 , 920 24 ,839 80 ,714 29 30 31 32 33 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 424 ,083 ,881 72,>207 28,,323 87, 423 14, 230 473, 976 43, 948 62, 865 28, 129 98, 711 14, 750 478,• 057 45, 845 73, 768 32, 575 115, 633 11, 455 510 871 56,,856 85,,676 32, 620 135, 446 9, 907 543 ,970 69 ,848 107 , 112 35,,801 146, 518 9,> 550 40 41 42 Profit taxes payable Trade debt Foreign direct inv. in U.S. 34 35 36 37 38 39 18, 490 486, 025 184 ,613 22, 073 499, 715 220, 412 26, 330 519, 580 271, 788 25, 650 562, 721 328, 851 23, 851 593- 085 400, 817 43 Net worth 40 41 42 3385, 703 3446, 551 3583, 685 3683, 724 3774, 060 44 Total corp. real estate 1821,547 1888,364 1983,797 2022,648 2332,629 2344,029 2576,651 3214,633 42,597 45 42,057 44,787 50,366 54,625 40.2% 67.3% 46 45.5% 67.3% 48. 1% 73.5% 51.5% 73.7% 54. 7% 64.2% 59.7% 47 48 67.6% 65.4% 69.9% 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) Tangibles and net worth on historical cost basis: 50 Tangible assets 2739,,915 2877,780 3057,959 3267,004 3454,555 51 52 53 54 Reproducible assets Residential structures Nonres. plant S equipment Inventories 50 2624, 946 19, 159 1944, 097 661, 690 2756,737 20,254 2077,376 659,107 2928,443 21,386 2197,838 709,219 3128-422 22-281 2333,792 772,349 3306,272 23,224 2461,823 821,225 55 Land 51 52 53 54 56 Total assets 57 Net worth 114, 969 121,043 129,516 138,582 148-283 55 4184. 315 4486,362 4803,538 5132,579 5437,278 56 2132, 796 2173,559 2261,220 2315,829 2354,768 57 912, 767 969,427 1016,289 1069,914 1117,006 58 63 .8% 72.2% 76.2% 82.0% 87.6% 59 Memo: 58 Total real estate 59 Debt-net worth ratio (27/57) Data are in millions of dollars. October 1990 Private Financial Institutions Private Financial Institutions 37 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1948 Private Financial Institutions 2,865 2,766 3, 003 3, 247 3, 330 3. 691 4, 151 3, 658 493 2,484 282 2, 569 296 2, 674 329 2,882 365 2, 953 377 3, 263 428 236,941 234, 430 246, 561 257, 154 271, 639 292, 525 313, 065 6 7 8 9 10 11 4,041 68 4, 729 74 5,.105 64 5,.249 56 5, 490 50 6.,078 53 6, 692 129 67 73 63 55 49 53 128 12 13 14 15 16 17 4,770 199,348 130,707 3,560 6,250 17,905 5,,559 217,,409 99 ,704 4 ,920 8 ,628 28 ,481 8.,065 231,,749 103,,193 4,,952 10,,173 31 ,949 9,,412 248,,134 96,,672 4 ,604 12 ,506 34 ,274 18 19 20 21 22 23 24 25 26 27 29 10,.257 264,.264 ,517 93 1 4,,285 14,, 125 37,,918 4.331 Tangible assets Residential structures 3,807 Nonres. plant & equipment 524 Land 339,755 Total financial assets 6,894 170 11,866 287.569 95,732 4,542 15,776 42,874 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 6 7 8 9 10 11 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 12 13 14 15 16 17 4,, 923 200..056 116:,043 3 >990 6 ,615 20:,041 5 ,271 210,, 152 108,,846 4 ,059 7,,587 23,,676 21,154 3,401 11,347 239 4,631 154 26 ,167 5 ,724 16 ,321 418 4 ,510 227 32 ,045 8 ,340 20 ,523 499 4 ,316 261 38 ,043 10 ,499 21 ,844 485 4 ,546 259 43 ,178 12 ,931 20 ,116 499 4 ,486 272 52 ,164 16 ,209 25 ,750 686 4 ,875 394 59,,934 16 ,879 30 ,805 1 ,025 5 ,286 490 67,517 20,801 32,719 1,276 5,840 492 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 18 19 20 21 22 23 8,075 17,784 361 2,427 3 ,751 18 ,185 478 2 ,161 2 ,688 20 ,115 578 2 ,525 2 ,915 22 ,457 652 2 ,802 3 ,658 18 ,578 723 3 ,277 4 ,453 19 ,855 740 3 ,747 4 ,132 22 ,753 850 3 ,860 4,865 22,703 948 4,571 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 24 25 26 27 239,707 237 ,295 249 ,564 260 ,401 274 ,969 296 ,216 317 ,216 344,086 Total assets 28 218, 588 214,846 225, 997 235, 708 248, 845 267, 521 286, 961 311, 676 Total liabilities 29 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 30 31 32 33 34 Life insurance reserves Pension fund reserves Interbank claims, net 35 36 37 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 38 39 40 41 42 43 44 Security debt Trade debt Taxes payable Miscellaneous liabilities 45 46 47 48 30 31 32 33 34 101, 659 50, 270 87, 835 56, 617 90, 064 60, 032 89, 488 62, 244 90, 329 64,861 95, 924 67, 322 102, 743 72, 303 107, 902 80, 167 3. 231 29 3, 419 17 3, 599 -82 3, 930 -95 4, 294 -82 4, 576 —61 4, 546 7 4,874 22 35 36 37 35, 967 9, 352 2. 099 38, 602 10, 244 1,.505 41, 147 11, 674 1..644 43, 777 13,.307 1,,761 46, 444 15,.092 2,,133 49, 080 17, 511 3,.289 51,,635 20,,367 3,,376 54, 480 24,,184 3,,420 38 39 40 41 42 43 44 1,264 989 195 1,,297 1,,754 356 1,,412 2,,515 548 1,,515 3,,619 973 3,,070 4,,468 1,,355 3,,344 6.,354 1,,735 3,,481 6,,953 2,,023 3,,931 8,,198 2,,280 369 220 205 661 436 301 942 593 432 1,,367 770 509 1,,735 951 427 2,,697 1,,112 810 2,,460 1,,559 911 3,,139 1,,915 864 45 46 47 48 3 ,976 2 ,366 1,,582 2 ,068 2 ,588 2 ,960 2 ,681 3 ,056 443 9 ,309 457 10 ,733 348 12 ,062 495 13 ,599 708 14 ,940 868 16 ,354 1 ,098 17 ,771 1 ,434 20 ,008 49 50 51 21 ,119 16 ,695 4 ,424 22 ,449 17 ,576 4 ,873 23 ,567 18 ,297 5 ,270 24 ,693 18 ,928 5 ,765 26 ,124 19 ,810 6 ,314 28 ,695 21 ,622 7 ,073 30 ,255 22 ,639 7 ,616 49 32 ,410 Net worth Approximate share stock cos. 50 24 ,254 Approximate share other cos. 51 8 ,156 52 53 29 ,024 2 ,301 25 ,492 2 ,407 21 ,694 2 ,530 21 ,679 2 ,634 24 ,017 2 ,594 24 ,834 2 ,807 26 ,879 3 ,087 30 ,669 Market value of equities 3 ,151 Total real estate Memo: Data are in millions of dollars. 52 53 October 1990 Private Financial Institutions 38 Private Financial Institutions Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1953 1954 1955 1956 1957 1958 1959 1960 Pri v<ate Financial Institutions 1 Tangible assets 2 Residential structures 3 Nonres. plant 8 equipment 4 Land 5 Total financial assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 12 13 14 15 16 17 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 18 19 20 21 22 23 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust, liab. on acceptances 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 4,668 5,040 5,850 6,749 7,367 7,918 8,612 9,230 4,065 603 4,321 719 4,984 866 5,687 1,062 6,105 1,262 6,444 1,474 6,930 1,682 7,343 1,887 1 2 3 4 362,327 394,172 427,447 452,947 476,870 523,307 558,695 597,309 5 7,220 205 7,573 283 7,911 348 7,978 431 8,202 500 8,877 668 8,636 724 205 283 348 431 499 667 724 12,941 307.431 96,182 6,044 17,841 47,602 17,728 332,683 101,548 5,865 21 ,260 51,873 24,144 357,182 93,931 5,253 22,825 54,857 ' 25,946 379,251 89,716 4,832 24, 140 58,683 25,530 402,523 88,839 5,197 26,449 65,157 36,361 435,206 97,785 5,713 30,508 70,687 42,634 463,844 90,983 4,795 32,791 74,907 46,239 497,744 92,783 5,513 34,835 79,545 12 13 14 15 16 17 100,739 31,706 39,235 942 7,052 642 112-799 34,872 44,870 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 53,879 2,468 10,899 1,151 161-284 48,423 57,509 2,405 13,420 2,027 18 19 20 21 22 23 9,615 20-427 1,934 10,846 24 25 26 27 9,062 6 721 7 8 721 9 10 11 75,806 24,507 31,545 1 -165 6.166 573 86,499 25,510 31,723 1 , 147 6,385 873 5,729 22,672 1,006 4,918 7,526 21 ,345 1,064 5,687 8,645 21,687 1 ,156 6,026 8,023 22,320 1,291 7,276 7,726 22,369 1,451 8,070 9,172 21,753 1,599 9,004 28 Total assets 366,995 399,212 433,297 459,696 484,237 531,225 567,307 606,539 28 29 Total liabilities 332,655 359,960 390,085 413,787 437,409 479,005 511 ,524 547,239 29 30 31 32 33 34 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 108,025 88,446 112,538 97,808 114,678 106,581 116,493 116,213 115,841 128,299 121-409 142,572 122,979 154,096 5,824 37 7,011 -20 6,693 -205 6,489 -210 6,701 -313 9,290 -252 7,552 -28 125,022 165,818 11,119 -262 35 36 37 Life insurance reserves Pension fund reserves Interbank claims, net 57,388 28,538 3,251 60,389 33,295 3,142 63,459 4 0,4 98 4,290 66,626 45,679 4,655 69,277 51 ,332 4,159 72,294 60,436 4,264 75,606 69,246 5,144 78,758 35 76,728 36 5,780 37 38 39 40 41 42 43 44 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 4,146 9,899 3,681 6,109 10,094 3,604 7,838 13,943 4,528 9,046 14,796 5,609 8,714 16,376 6,354 13,241 15,655 6,556 15,818 19,358 7,733 3,044 2,222 952 3,250 2,373 867 5,611 2,387 1,417 5,110 2,849 1,228 5,113 3,644 1,265 4-406 3,395 1,298 5,441 4,050 2, 154 17,026 22,985 9,112 6,117 5,775 1,981 38 39 40 41 42 43 44 45 46 47 48 Security debt Trade debt Taxes payable Miscellaneous liabilities 3,445 4,450 4,746 4,158 4,287 4,848 4,887 1,903 21,753 1,634 23-510 1,260 26,304 1,452 28,390 1,635 31,101 1 ,698 33,550 1.387 35,479 5,382 2-364 36,519 45 46 47 48 49 Net worth 50 Approximate share stock cos. 51 Approximate share other cos. 34,340 25,477 8,863 39,252 29,313 9,939 43,212 31 ,949 11,263 45,909 33,787 12,122 46,828 62,277 -15,449 52,220 38,044 14,176 55,783 40-486 15,297 59,300 49 42,999 50 16-301 51 52 Market value of equities 53 Total real estate 28,754 3,327 33,991 3,604 37,562 4,204 37,154 4,865 45,586 5,340 59,559 5,813 73,182 6,352 75,874 52 6,854 53 Data are in millions of dollars. 9,414 21 - 186 1,782 9,751 30 31 32 33 34 October 1990 Private Financial Institutions Private Financial Institutions 39 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1961 1962 1963 1964 1965 1966 1967 1968 Private Financial Institutions 21,,531 Tangible assets Residential structures 101 Nonres. plant 8 equipment 18,,128 Land 3.,302 1 2 3 4 9, 941 10, 968 11,835 13, 287 15, 027 16, 749 18,,370 7, 790 2, 151 8, 598 2, 370 9, 292 2, 543 10, 488 2, 799 12, 007 3,,020 13, 580 3,,169 15 j243 3,,127 5 656, 978 705,,785 771,,129 845,,972 926, 854 974 s647 1076,,260 12.,503 1,,053 2,,096 107 1184,,251 Total financial assets 1 2 3 4 5 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 6 7 8 9 10 11 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 12 13 14 15 16 17 6 7 8 9 10 11 10, 212 877 11.,141 960 11,,189 1,,023 11, 491 1,,118 11,,876 1,,126 11.,491 1,,037 11,,863 1.,133 877 959 1,,023 ,118 1,,126 1,,258 1,,887 12 13 14 15 16 17 61, 385 537,, 083 99, 057 6,,364 38,, 685 84,,852 58,,089 584,,815 100,,540 8 ,225 ! 44,,443 90,,811 70,,821 634,,368 97,,066 8,,660 48,,825 96,,799 83,,861 692,,364 98, 411 9,,501 52,,403 103,,860 99,,136 754, 524 94,,313 10,,428 57,,099 111, 594 94,,815 802,,497 91,,083 11,,823 59,,718 120,,825 122, 808 865,,673 95,,284 15,,049 70,,160 133,,249 145,,755 940,,277 97,,987 17,,796 79,,689 142,,281 18 19 20 21 22 23 177, 338 50, 688 60,,584 2,,707 14,• 125 2, 683 197,,873 55,,639 66,,697 3,,141 14,,796 2,,650 223,,583 62,,972 73 ,771 3,,170 16:,632 2:,890 249,,213 71.,292 82,,015 3,,577 18,,707 3,,385 274,,728 80,,223 98,,026 3,,511 21,,210 3,,392 292,,558 86,,037 107,,803 5:,324 23,,723 3 ,603 310,,681 91,,014 114,,157 7,,446 24,,316 4,,317 333,,355 101,,676 127,,880 7:,389 27:,796 4:,428 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 18 19 20 21 22 23 24 25 26 27 11,,772 21 ,076 : 1,,993 11:,703 12,,423 21,973 2.,201 13,,224 15,,083 ,308 21 , 2,,332 13,,982 15,,045 22,,382 2,,484 16,,109 15,,263 23 ,298 2,,649 17 ,856 15 ,824 25,,244 2,,898 19 ,583 20:,498 27:,023 3:,176 22:,199 24:,659 29:,054 3:,476 25:,271 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 24 25 26 27 28 666 ,919 716:,753 782,,964 859,,259 941 ,881 991 ,396 1094,,630 1205:,782 Total assets 28 29 600:,671 647,,705 710,,322 780,,690 858,,430 906 ,741 1003,,141 1106:,263 Total liabilities 29 30 31 32 33 34 130,,140 184 ,107 i 134,,711 209,,910 136,,925 235,,499 143,,641 261,,152 148,,953 288,.408 150 ,759 306 ,429 162,,896 341,,129 176:,210 367:,734 13,,569 14 16 ,408 63 20 ,353 26 25 ,119 540 31,,033 1 ,749 33 ,356 1 ,674 39,,269 1 ,659 46,,009 2,,586 35 36 37 82,,112 88 ,649 7,,010 85 ,754 93 ,639 6 ,849 89 ,860 106 ,041 6 ,844 94 ,172 120 ,821 6 ,864 98 ,863 135 ,770 6 ,794 103 ,450 144 ,150 10 ,552 108 ,335 165 ,020 11 ,000 113,,138 185 ,427 14 ,976 38 39 40 41 42 43 44 22 ,875 24 ,869 9 ,262 21 ,271 27 ,943 9 ,222 25 ,214 33 ,472 10 ,530 29 ,116 38 ,847 12 ,834 35 ,220 45 ,267 15 ,051 34 ,829 49 ,072 15 ,275 44 ,307 47 ,968 15 ,954 6 ,643 6 ,302 2 ,662 7 ,764 7 ,478 3 ,479 9 ,417 8 ,741 4 ,784 9 ,952 10 ,736 5 ,325 12 ,290 11 ,929 5 ,997 11 ,200 15 ,662 6 ,935 45 46 47 48 6,,256 7 ,066 7 ,739 8 ,377 8 ,737 1 ,392 39 ,678 1 ,947 42 ,144 1 ,548 46 ,801 1 ,759 50 ,282 1 ,786 55 ,850 49 50 51 66 ,248 48 ,344 17 ,904 69 ,048 50 ,285 18 ,763 72 ,642 52 ,682 19 ,960 78 ,569 57 ,185 21 ,384 52 53 117 ,925 7 ,529 90 ,529 8 ,366 110 ,586 9 ,065 118 ,184 10 ,073 - " - " - - - - Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds « security RPs 30 31 32 33 34 Life insurance reserves Pension fund reserves Interbank claims, net 35 36 37 9 ,217 18 ,411 4 ,386 51 ,232 53 ,946 16 ,400 200 10 ,691 21 ,396 5 ,259 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 38 39 40 41 42 43 44 9 ,576 12 ,745 16 ,199 1 ,741 61 ,153 1 ,548 67 ,265 1 ,708 77 ,098 Security debt Trade debt Taxes payable Miscellaneous liabilities 45 46 47 48 83 ,451 60 ,318 23 ,133 84 ,655 60 ,957 23 ,698 91 ,489 65 ,518 25 ,971 49 99 ,519 Net worth Approximate share stock cos. 50 71 ,308 Approximate share other cos. 51 28 ,111 154 ,980 11 ,178 139 ,277 12 ,220 167 ,022 12 ,751 Memo: Data are in millions of dollars. 238 ,394 Market value of equities 14 ,699 Total real estate 52 53 October 1990 Private Financial Institutions 40 Private Financial Institutions Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings 1971 1972 1973 1974 Private Financial Institutions 1 Tangible assets 2 Residential structures 3 Nonres. plant 8 equipment 4 Land 24 ,436 194 20 ,686 3 ,556 27,203 260 23,255 3,688 31 ,123 372 26 ,823 3 ,928 35 ,515 670 30 ,559 4 ,286 41 ,080 890 35 ,570 4 ,620 51 ,376 1 ,296 44 ,775 5 ,305 59,365 2,157 51,734 5,474 67,968 2,732 59,231 6-005 1 2 3 4 1239 ,468 1338,622 1510 ,808 1741 ,470 1894 ,990 2003 ,697 2237,540 2498,684 5 12 ,063 832 12,765 1,040 13 ,792 1 ,492 15 ,746 1 ,805 16 ,455 1 ,611 17 ,101 1 ,895 19,011 2,124 20,005 2,075 1 ,797 336 2,526 442 4 ,269 1 ,168 6 ,136 1 ,667 7 ,083 3 ,709 12 ,689 6 ,107 21,909 5,059 141 ,746 999 ,233 84 ,549 19 ,421 81 ,238 150 ,755 151,178 1077,106 91,555 26,177 93,798 165,305 196 ,720 1185 ,572 90 ,779 34 ,266 110 ,375 180 ,266 238 ,903 1339 ,236 93 ,696 44 ,858 122 , 126 197 ,437 206 ,514 1510 ,878 83 ,799 57 ,396 151 ,457 208 ,255 160 , 149 1652 ,327 82 ,856 65 ,526 138 ,595 225 ,853 218,956 1782,096 125,304 76,595 146,352 254,888 255,755 1985,517 164,212 85,626 159,448 285-441 12 15 14 15 16 17 355 ,063 111 ,592 145 , 151 10 ,749 35 ,284 5 ,451 375,439 115,495 151,576 12,846 37,877 7,058 416 ,425 128 ,691 163 ,017 13 ,642 40 ,222 7 ,889 476 ,724 147 ,121 189 ,019 15 ,992 45 ,365 6 ,898 542 ,307 170 ,287 237 • 809 18,153 52 ,523 8 ,892 580 ,302 178 ,896 278 672 25 ,118 60 • 025 18 ,484 614,250 183,666 265,227 31 ,760 65,347 18,727 677,171 204,452 271,904 41-446 75,294 22,523 18 19 20 21 22 23 20 ,021 29 ,405 3 ,898 30 ,137 20,174 31,197 4,370 37,824 23 ,525 35 ,329 4 ,661 44 ,28 0 24 ,300 37 748 6 ,485 80,,207 20 ,546 37 ,483 7 ,020 88 ,530 23,634 38,304 7,668 118,779 54,166 37,279 8-878 131,510 24 25 26 27 28 Total assets 1263 ,904 1365,825 1541 ,931 1776 ,985 1936, 070 2055 073 2296,905 2566,652 28 29 Total liabilities 1162:,500 1260,605 1425 ,564 1645 ,655 1792,,062 1911 ,526 , 2147,846 2395,420 29 5 Total financial assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 12 13 14 15 16 17 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 18 19 20 21 22 23 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 32 ,056 34 ,295 5 ,842 65 , 784 30 31 32 33 34 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 180- 864 381,. 736 190,202 412,241 203,,402 480 • 509 223. 190 550,,038 236,. 121 589,• 205 30, 485 8, 707 54,692 4,650 68,• 115 8, 666 86 914 11, 159 35 36 37 Life insurance reserves Pension fund reserves Interbank claims, net 118, 110 194, 623 22, 241 123,345 213,291 17,277 129, 626 247, 524 11, 925 38 39 40 41 42 43 44 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 47, 587 70,807 17 •226 430 11, 112 32, 750 9, 289 46,811 76,756 21,002 546 11,526 33-067 10,615 45 46 47 48 Security debt Trade debt Taxes payable Miscellaneous liabilities 13, 173 1,894 92, 273 49 Net worth 50 Approximate share stock cos. 51 Approximate share other cos. 52 Market value of equities 53 Total real estate Data are in millions of dollars. 6 7 8 20,005 9 5,516 10 11 - 126, 021 27, 416 236,• 087 626, 798 2- 379 167, 087 30, 495 244,045 724,657 3,696 158,155 32,914 258,265 846,074 3,686 144,277 49,086 1 36,349 297, 948 10, 730 143, 522 302, 483 4, 887 150, 528 307, 089 4 •591 158,474 402,165 -7,947 167,075 55 461-059 36 -15,965 57 55, 446 81, 419 25, 906 680 13, 050 33. 847 7, 936 58, 926 96, 332 32, 953 1, 160 19, 520 34, 720 7, 979 46, 635 125 .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 ,759 47,361 2,028 28,076 56,429 17,845 46,510 159,593 53,872 2-416 24,985 62-458 15,862 14,153 15, 299 19, 502 16, 075 13, 150 16,034 23,385 45 2,479 104,708 2, 443 121, 190 2, 450 152, 117 2, 608 173, 640 2, 693 184, 792 2,437 218,447 249,455 48 101 ,404 73, 729 27, 675 105,220 76,817 28,403 116, 367 83, 984 32, 383 131, 330 94, 799 36, 531 144, 008 105, 475 38,553 143, 547 104, 915 38, 632 149.059 105,564 45,495 171,252 49 122,295 50 48,957 51 213, 170 16, 739 204,308 18,452 237, 203 20, 974 272, 367 23, 683 212, 964 26, 420 133, 602 31, 443 155,563 34,927 208,193 52 38,670 53 50 51 32 55 54 58 39 40 41 42 43 44 October 1990 Private Financial Institutions Private Financial Institutions 41 Sector Balance Sheet with Tangible Assets at Current Cost Year-End Outstandings Year-End Outstandings Private Financial Institutions 1 2 3 4 75 ,894 2 ,718 66 ,849 6 ,327 82 ,496 1 ,402 74 ,883 6 ,211 91 ,120 1 ,354 83 ,531 6 ,235 103 ,446 1 ,337 95 ,174 6 ,935 116 ,576 1 ,399 107 ,367 7 ,810 125 ,110 1 ,421 115 ,515 8 ,174 132 ,888 1 ,333 122 ,909 8 ,646 150 ,727 1 ,413 139 ,539 9 ,775 5 2784 ,734 3186 ,188 3595 ,038 4030 .994 4453 ,630 4914 ,962 5503 ,701 6235 ,258 6 7 8 9 10 11 21 ,404 2 ,517 244 24 ,521 8 ,242 14 24 ,695 1 ,766 762 35 ,280 ,482 9 470 27 ,518 2 ,121 2 ,182 48 ,082 14 ,434 5 ,109 30 ,531 2 ,850 4 ,491 61 ,604 18 ,717 6 ,769 32 ,722 3 ,231 12 ,122 84 ,038 33 ,833 18 ,846 40 ,737 5 ,699 11 ,367 102 ,771 44 ,305 23 ,759 42 ,465 7 ,313 9 ,890 97 ,525 53 ,576 21 ,911 44 ,343 6 ,940 15 ,093 97 ,320 71 ,608 21 ,213 12 13 14 15 16 17 246 ,107 2241 ,708 168 ,526 101 ,287 182 ,427 316 ,113 280 ,918 2544 ,561 161 ,074 122 ,008 208 ,659 353 ,359 324 ,991 2855 ,284 164 ,892 146 ,076 229 ,035 379 ,567 404 ,614 3142 ,948 202 ,213 178 ,908 252 ,498 420,529 394 ,616 3473 ,499 247 ,345 222 ,604 264 ,892 444 ,887 478 ,306 3726 ,741 322 ,217 283 ,659 286 ,614 480 ,863 611 ,974 4118 ,674 387 ,870 353 ,251 300:,553 522 ,600 615 ,638 4707 ,804 469 ,487 395 ,708 326 ,241 597 ,012 18 19 20 21 22 23 773 ,240 240 ,794 300 ,725 42 ,429 90 ,513 25 ,654 880 ,529 284 ,326 359 ,448 45 ,663 104 ,557 24 ,938 978 ,889 323 ,580 409 ,711 71 ,715 119 ,354 32 ,465 1042 ,239 326 .004 457 ,347 93:,343 130 ,077 39 ,790 1092 ,163 342 ,607 510 ? 921 148 ,408 148 ,588 51 ,084 1084 ,958 359 ,029 531 ,483 165 ,114 153 ,985 58 ,819 1181 ,437 403:,932 562:,652 170:, 153 170 ,554 65,,672 1328 ,494 483 ,156 621 ,035 213 ,192 204:,047 69 ,432 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 18 19 20 21 22 23 24 25 26 27 38 ,419 40:,792 10 ,176 150:,590 38 ,170 46 ,693 11:,656 191 ,735 37 ,612 48 ,280 13 ,591 215:,834 45 ,661 47:,263 15:,575 249 ,971 49 ,232 43:,851 18:.117 289 ,523 52 ,006 46 ,021 20 ,242 363 ,008 62,,838 42,,442 22,,239 412,,854 66 ,289 46 ,057 25 ,000 517,,953 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 24 25 26 27 28 2860:,628 3268:,684 3686,,158 4134:,440 4570:,206 5040 ,072 5636,,589 6385,,985 29 2674 ,966 3055:,591 3439,,208 3848,,488 4277,,856 4734 ,299 5308,,257 5999,,066 30 31 32 33 34 283 ,729 940,,587 3 ,887 172:,579 56 i ,654 310,131 1005:,465 10:,808 227,577 80,,005 337 ,717 1065,.076 45,,214 256,,852 96,,525 350,,249 1147,,774 76,,362 316,,823 119,,937 367,,269 1195,,586 186,, 158 378,,116 149,,033 394 ,790 1334:,287 219 ,837 395,,450 181,,211 422,,174 1550, 855 179,,393 382,,439 194,,133 459,,266 1701,,578 233,,554 469,,790 234,,539 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds c. security RPs 30 31 32 33 34 35 36 37 176,,386 507,,452 -19,,198 187,,257 601,,737 -8,,284 197,,675 699,,396 9,,425 207,,364 839, 642 -22,,544 216,,308 910,,736 -68,,927 223,,279 1081,,287 -102,,550 231,,100 1280,,082 -100,,387 236,,066 1402,,032 -91,,625 Life insurance reserves Pension fund reserves Interbank claims, net 35 36 37 38 39 40 41 42 43 44 45,,490 188,,217 65, 837 2,,428 24,>645 75,,134 20,> 173 46,,049 223,,825 73,,686 1,,960 26,,432 89,,077 32,,670 51,,788 265,,776 79,,148 1,,950 26,,926 115,,914 41,,838 61,,808 286,,416 80,,765 1,,910 25, 939 128, 839 48, 963 59,,841 341,,774 86,,005 1,,930 27,,126 161,,519 65,,194 76,,851 370,,437 99,,715 2,,043 28,,503 174,,175 66,,001 112,,121 403,,181 118,,601 2, 068 28, 096 195, 463 58, 953 136,,679 479,,046 152,,950 2,,479 29,,506 219, 490 74,,621 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 38 39 40 41 42 43 44 45 46 47 48 25, 297 25, 644 26,,712 33, 405 36, 496 39, 534 3,884 290, 002 4, 839 340, 538 4,,986 382,,066 3, 662 427, 590 1, 951 503, 515 2, 071 517,,815 43, 654 1, 023 1, 714 606, 775 50, 526 1,,545 1,,406 684, 664 Security debt Trade debt Taxes payable Miscellaneous liabilities 45 46 47 48 49 50 51 185, 662 130, 231 55, 431 213, 093 148, 265 64, 828 246,,950 173, 967 72, 983 285, 952 206, 756 79, 196 292, 350 215, 529 76, 821 305, 773 226, 464 79, 309 328, 332 243, 561 84, 771 386, 919 305, 006 81 ,913 Approximate share stock cos. 50 Approximate share other cos. 51 52 53 191.898 41,468 198,157 42,535 231,327 43,680 259,984 47.467 272,455 52,026 319,396 53,141 356,976 56,346 376,481 Market value of equities 62,349 Total real estate Data are in millions of dollars. angible assets Residential structures Nonres. plant & equipment Land 1 2 3 4 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 6 7 8 9 10 11 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 12 13 14 15 16 17 52 53 October 1990 Private Financial Institutions Private Financial Institutions Sector Balance Sheet with Tangible Assets at Current Cost 42 Year-End Outstandings Year-End Outstandings 1985 1986 1987 1988 1989 Private Financial Institutions 1 Tangible assets 2 Residential structures 3 Nonres. plant 8 equipment 4 Land 5 Total financial assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 12 13 14 15 16 17 Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 167 ,479 1 ,662 154 ,808 11 ,009 195 943 1 ,991 181 ,418 12 ,534 221 ,702 2 ,464 204 ,737 14 ,501 257 ,009 2 ,834 237,965 16 ,210 7145 ,910 9587 ,114 8160 ,492 8801 ,238 57 ,408 9 ,565 18 ,160 104 ,102 80 , 148 19 ,027 69 ,616 12 ,851 23 ,258 114 ,970 87 ,086 22 ,168 65 ,498 12 .931 18 ,307 127 ,463 93 ,634 21 ,612 800 ,341 5289 • 377 539 ,54 7 448 ,704 423 ,941 684 ,704 974 ,642 6017 ,998 650 ,771 610 ,619 466 ,498 803 ,446 1039 ,507 6564 ,533 675 .383 750 ,944 453 ,987 926 ,587 5 71 ,818 9 ,776 24 ,828 132 ,252 119 ,009 26 ,378 6 7 8 9 10 11 1176 ,092 7128 ,600 660 ,589 826 ,913 449 ,910 1083 ,093 1497 ,789 7674 • 085 751 ,173 870 ,834 452 • 031 1197 ,095 12 13 14 15 16 17 2089 ,624 748 ,386 820 ,319 339 ,031 350 ,231 55 361 18 19 20 21 22 23 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans Cust. liab. on acceptances 1462 ,176 563 ,657 662 ,357 215 ,105 229 ,214 59 ,972 1600 ,072 621 ,191 728 ,984 230 ,540 251 ,475 54 ,402 1781 ,945 651 ,587 729 ,495 249,887 284 ,890 59 ,828 1970 ,302 700 ,133 768 ,858 286 ,175 325 , 128 57 ,499 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 96 ,137 54 ,168 27 ,190 590 ,287 97 ,060 73 ,759 32 ,062 635,022 76 ,174 66 642 35 ,651 679 ,286 77 ,410 66 ,908 42 ,499 725 ,794 28 Total assets 7313 ,389 8356,435 9022 ,940 29 Total liabilities 688 7 ,952 7882 ,579 30 31 32 33 34 Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Fed. funds 8 security RPs 526 1842 243 487 263 640 ,792 1962 • 614 292 . 109 492 . 700 312,,207 35 36 37 Life insurance reserves Pension fund reserves Interbank claims, net 246 i .507 1653,• 061 -72, 896 263 ,728 1862 ,225 -67 ,552 38 39 40 41 42 43 44 Mutual fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 240,.230 580, 460 204, 495 2, 668 32, 066 252, 396 88, 835 413,.473 719, 454 287,, 352 2, 747 36, 078 284 632 108,,645 45 46 47 48 Security debt Trade debt Taxes payable Miscellaneous liabilities 74, 409 2, 336 1 ,877 798, 025 76,-096 3,.396 1, 927 909, 410 425, 437 334, 824 90, 613 521, 769 70, 129 49 Net worth 50 Approximate share stock cos. Approximate share other cos. 51 1 2 3 4 10534 ,438 72 ,116 11 ,606 19 • 916 137 • 191 99 ,287 29 ,695 18 19 20 21 22 23 -170 ,740 ,8 02 ,687 ,544 295 • 612 2 ,919 274 ,237 18 ,456 80 64 45 788 ,723 ,230 ,277 ,273 24 25 26 27 9844 , 123 10830,,050 28 8525 ,529 9322,,537 10260 ,969 29 628, 185 2031 ,713 316,-095 543 ,290 307,,734 653 ,314 2169 ,206 337 ,953 596 890 334,,923 649, 545 2267 ,691 428 , ,093 613,. 151 414,,949 30 31 32 33 34 289,,464 2013,.444 -26,,035 314,,402 2274, 386 -21,.460 340,,296 2628, 579 -35,-748 35 36 37 478, 262 986, 059 417 950 3, 383 34, 205 377, 740 152, 781 555,• 117 1073, 013 482, 714 3- 428 35, 986 409, 088 141, 797 38 39 40 41 42 43 44 64- 926 3- 247 670 1033, 416 64, 837 7, 517 350 1123- 898 79, 615 13, 783 3, 149 1229, 736 45 46 47 48 473, 856 371, 218 102, 638 497- 411 398, 370 99, 041 521 ,586 396, 558 125, 028 569, 081 432, 079 137, 002 49 50 51 564, 471 79, 523 466, 181 91 ,778 502, 176 102, 475 516, 547 117, 097 52 53 460,,144 858, 236 366, 297 3,. 126 32, 846 322, 909 133,.058 Memo: 52 Market value of equities 53 Total real estate Data are in millions of dollars. October 1990 National Net Worth National Net Worth 43 Factors Accounting for Change in Consolidated National Net Assets Annual Flows 1945 Annual Flows 1946 1947 1948 1949 1950 1951 1952 1 2 3 47,,266 23,,310 23,,956 55 ,472 28 ,573 26,,899 69,,999 33,,038 36,,961 61,,521 36,,113 25,,408 85,,849 39,,458 46,,391 90 ,342 45 ,663 44 ,679 4 4,,918 9,,853 3,,018 1<,297 -2,,249 656 Domestic investment flows: 5 36 ,752 28,,874 39,,979 26,,705 44,,142 45 ,335 82 ,782 Purchases of physical assets 49 ,708 - Capital consumption 33 ,074 = Net capital formation 322 + Net foreign investment by US * Net investment flows 33 ,396 by domestic sectors 1 2 3 4 5 Adjustments for tangible assets: 6 7 52,,665 13,,260 56,,690 11,,772 8 -3 -1 20,,572 8 ,686 961 4,,200 43,,404 21,,755 -1 32 ,935 18 ,005 -2 + Revaluations of reproducible tangible assets 6 ,060 8 ,591 + Change in land values 6 7 - Adjustment of capital consumption to Balance Sheet basis - 8 Adjustments: to net foreign investment: 9 10 -658 11 94,,144 363 - - 105 ,578 800 - 70 ,037 -446 - 31,,421 1,,549 - 110,,850 -1,,105 - 95 ,172 + Revaluation of U.S. net foreign assets 1 ,332 9 • Reval. of SDR holdings 10 49 ,379 = Change in natl. net assets 11 Change in consolidated national net worth: 12 94 ,144 105,,578 70 ,037 31,,421 110,,850 95 ,172 13 14 15 16 17 18 19 90,,216 111,,101 58,,896 15,,735 13,,456 21,,684 1,,330 92 ,377 114,,613 60,,580 8 ,170 16 ,095 28 ,650 1,,118 60,,810 70,,973 39 ,570 1,,854 9 ,262 19,,161 1,,126 33,,928 44,,938 32,,545 -2,,948 3,,628 10,,282 1,,431 103,,958 160,,558 103,,170 20,,037 11,,655 23,,125 2,,571 95 ,107 140 ,003 92 ,527 12 ,199 9 ,595 24 ,122 1 ,560 20 21 22 28,,908 2,,069 26,,839 24,,141 846 23,,295 11,,091 4 ,489 6,,602 750 513 237 31,,309 3,,829 27,,480 21,,558 1,,285 20 ,273 23 24 25 -8,,176 890 -9,,066 - 2 ,253 903 -3,,156 -1,,216 880 - 2 ,096 7,,754 368 7,,386 23,,944 438 23,,506 22 ,493 1 ,529 20 ,964 13 ,686 - Change in HH corp. equities Net purchases 922 Revaluation 12 ,764 23 24 25 26 27 28 153 300 -147 348 414 — 66 288 361 -73 2,,506 878 1,,628 1,,347 989 358 845 725 120 1 ,609 - Change/fin.inst.corp.shares Net purchases 1 ,378 231 Revaluation 26 27 28 29 30 31 32 33 1,,934 234 1,,683 15 2 14,,290 55 14,,210 22 3 8,,507 -146 8 ,644 8 1 -3,,802 -234 -3,,573 7 -2 4,,255 -3,019 7,,238 27 9 4 ,366 -1,,124 5,,459 23 8 + Change in net assets of public -10 ,346 sectors - 5 ,503 State 8 local governments - 4 ,874 U.S. government 26 Sponsored credit agencies 5 Monetary authority 29 30 31 32 33 34 35 36 59 59 -29 -15 -14 -28 15 -43 -236 -18 -218 467 24 443 215 76 139 69 60 9 37 38 39 -10 — 64 54 -210 -151 -59 -175 -144 -31 185 -21 206 435 3 432 525 120 405 255 255 40 41 42 -681 2, 347 259 -1,,802 -1,,162 1,,694 1,,249 71 -747 -765 2,,010 471 -799 1,,921 1,,483 -2,,682 -2,,753 1,,444 49 ,379 Total, all sectors CI) 12 60 ,515 Private sectors, consol. (2) 78 ,715 Sector basis, total Households 57 ,655 -491 Farm business 3 ,495 Nonfarm noncorp. business 15 ,901 Nonfinancial corporations Private finan. institutions 2 ,155 13 14 15 16 17 18 19 2 ,905 - Change in eq.in noncorp.bus. 20 -529 Proprietors' net invest. 21 Revaluation of equity 3 ,434 22 - + Change in foreign equities held by U.S. residents Net purchases Revaluation 34 35 36 - Change in U.S. equities held by foreigners Net purchases Revaluation 37 38 39 Other adjustments: -1,,764 • Nonfinancial discrepancy -1,,291 + Unallocated financial flows 2,,451 + Unallocated revaluations 40 41 42 (1) Lines 13 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 42. (2) Lines 1 4 - 2 0 - 2 3 - 26. Memo: 43 577,,153 682,,731 752,,768 784,,189 895,,039 990,,211 44 212,,387 235,,236 261,,615 260,,363 288,,255 333,,406 Data are in millions of dollars. National net worth outstanding 1039,,590 at year end 351,,624 Gross National Product 43 44 October 1990 National Net North National Net Worth Factors Accounting for Change in Consolidated National Net Assets *-" n U a l Fl0WS Annual Flows Domestic investment flows: 1 Purchases of physical assets 2 - Capital consumption 3 = Net capital formation 87,600 53,341 34,259 4 + Net foreign investment by US = Net investment flows 5 by domestic sectors 86,166 57,591 28,575 108,591 60,650 47,941 110,864 67,517 43,347 110,741 72,918 37,823 100,673 76,260 24,413 122,980 79,780 43,200 121,645 82,586 39,059 1 2 3 -1,728 356 -1,878 1,805 4 32,531 24,769 41,322 40,864 5 6 7 Adjustments for tangible assets; • Revaluations of reproducible 6 tangible assets 7 + Change in land values 2,052 7,687 2,637 15,135 20,998 17,210 35,166 28,293 8,614 21,704 8,775 23,281 4,400 20,321 -2,977 21,622 1,773 - -894 722 4,883 707 -1,514 488 -525 44,043 45,196 - Adjustment of capital consumption 8 to Balance Sheet basis Adjustments to net foreign investment: • Revaluation of U.S. net foreign 9 assets 10 + Reval. of SDR holdings 11 = Change in natl. net assets - 86,898 110,366 73,420 55,312 66,530 9 10 Change in consolidated national net worth: 12 Total, all sectors (1) 44,043 45,196 86,898 110,366 73,420 55.312 66,530 13 Private sectors, consol. (2) 14 Sector basis, total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Private finan. institutions 52,364 47,309 28,032 -1,754 3,910 15,191 1,930 54,427 135,210 109,913 2,021 3,531 14,833 4,912 84,576 151,433 109,174 3,184 7,941 27,174 3,960 110,606 147,614 91,859 7,093 10,929 35,036 2,697 76,013 51,480 12,157 6,768 6,895 24,741 919 73,376 201,005 164,383 9,240 6,640 15,350 5,392 72,704 112,876 80,718 3,654 4,507 20,434 3,563 20 - Change in eq.in noncorp.bus. 21 Proprietors' net invest. 22 Revaluation of equity -343 2,443 2,100 5,354 -2,225 7,579 10,896 -2,418 13,314 17.620 -1,641 19,261 13,256 -1,127 14,383 15,396 75 15,321 7,796 -3,477 11,273 5,409 20 -2,838 21 8,247 22 23 - Change in HH corp. equities 24 Net purchases 25 Revaluation -8,230 634 -8,864 70.642 193 70,449 49,545 333 49,212 17,586 965 16.621 -37,373 388 -37,761 101,402 156 101,246 26,103 -1,132 27,235 -7,742 23 -1,404 24 -6,338 25 26 - Change/fin.inst.corp.shares 27 Net purchases 28 Revaluation 1,075 1,338 -263 4,787 1 ,497 3,290 6,416 1,484 4,932 1,802 1,469 333 -416 2,280 -2,696 10,831 2,400 8,431 6,273 3,321 2,952 3,605 26 3,430 27 175 28 -9,906 -3,490 -6,431 10 5 -9,294 -3,829 -5,473 7 1 437 -3,240 3,653 17 7 1,338 -2,977 4,284 15 -3,152 -4,662 1,458 34 18 -16,622 -5,508 -11,148 29 5 -7,220 -4,168 -3,081 23 6 -130 -51 -79 539 256 283 571 173 398 186 111 75 -392 35 -427 862 332 530 594 195 399 295 34 663 35 -368 36 1,604 483 1,321 127 1,194 386 256 130 -870 147 -1,017 2,214 -54 2,268 1,058 351 707 -61 37 203 38 -264 39 -2,658 2,506 1,280 -1,804 1,501 2,938 1,895 -5,032 1,759 1,172 -124 -967 219 -189 -120 1,545 1,700 -1,735 2,807 40 -1,600 41 -2,530 42 1083,633 1128,829 1215,727 1326,093 1399,513 1454,825 1521,355 1580,339 43 371,336 372,493 405,906 428,212 451,036 456,736 495,805 515,323 44 29 30 31 32 33 • Change in net assets of public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority 34 35 36 • Change in foreign equities held by U.S. residents Net purchases Revaluation 37 38 39 - Change in U.S. equities held by foreigners Net purchases Revaluation -55 -55 1,121 16 58,984 12 61,540 62,812 45,181 941 4,802 8,371 3,517 -1 ,589 -3,314 1,698 21 6 13 14 15 16 17 18 19 29 30 31 32 33 Other adjustments: 40 • Nonfinancial discrepancy 41 + Unallocated financial flows 42 • Unallocated revaluations (1) Lines 1 3 + 2 9 + 34 (2) Lines 1 4 - 2 0 - 23 43 37+40+41+ 26. National net worth outstanding at year end 44 Gross National Product Data are in millions of dollars. -2,410 1,529 2,541 42. October 1990 National Net Worth National Net Worth 45 Factors Accounting for Change in Consolidated National Net Assets Annual Flows Annual Flows Domestic investment flows: 119,017 85,200 33,817 134,670 87,799 46,871 144,905 91,280 53,625 156,473 95,666 60,807 179,610 100,628 78,982 2,833 2,261 4,053 5,917 4,971 36,650 49,132 57,678 66,724 197,135 107.489 89,646 196,314 116,768 79,546 218,006 Purchases of physical assets 127,999 - Capital consumption 90,007 = Net capital formation 1,051 + Net foreign investment by US = Net investment flows 91,058 by domestic sectors 83,953 1 2 3 4 5 Adjustments for tangible assets: -1,549 19,383 96 14,649 -5,974 16,423 12,863 21,537 11,915 23,328 45,466 40,327 36,010 17,168 + Revaluations of reproducible 95,372 tangible assets 24,307 + Change in land values 6 7 - Adjustment of capital consumption -4 to Balance Sheet basis 8 Adjustments to net foreign investment: 9 10 -1,308 601 -3,376 -307 53,179 64,479 64,754 100,819 -1,733 259 828 -259 -11,777 123,324 + Revaluation of U.S. net foreign -941 assets 9 + Reval. of SDR holdings 10 209,800 = Change in natl. net assets 11 Change in consolidated national net worth: 12 53,,179 64,,479 64,-754 100,,819 117,,724 179,,671 123,,324 209,,800 Total, all sectors (1) 12 13 14 15 16 17 18 19 62, 858 187 ,248 i 157,,102 4,,930 5,,291 12,,977 6,,948 72,,482 18 ,746 -9,,584 5,,112 6 ,873 13,,545 2,,800 67,,593 163,• 836 134,,721 5,,772 5,,746 14,,003 3,,594 106,,927 181,,862 137,,412 6,,099 9,,517 22,,907 5 ,927 119:,734 221,,428 164,,473 13,,254 9,,258 29,,561 4,,882 182,,102 145,,500 76,,757 7,,616 20,,284 39,,639 1,,204 153, 435 333,,223 272,,061 10,,050 7,,194 37,,084 6,,834 219 ,424 Private sectors, consol. (2) 402 ,409 Sector basis, total Households 317 ,870 Farm business 10,,916 Nonfarm noncorp. business 19 ,482 Nonfinancial corporations 46 ,111 Private finan. institutions 8 ,030 13 14 15 16 17 18 19 20 21 22 9 ,747 51 9 ,696 11,,499 58 11 ,441 10,,999 1,,110 9 ,889 15 ,122 -806 15,,928 21,,680 259 21,,421 27,,366 -405 27,,771 16,,542 -1,,080 17,,622 23 24 25 99 ,497 -1 ,061 100 ,558 -61 ,745 -2 ,714 -59 ,031 72 ,511 -2 ,995 75,,506 46 ,996 - 2 ,080 49 ,076 64 ,803 -4,,772 69 ,575 -59,,573 -3,,490 -56,,083 135,,399 -5,,664 141,,063 130 ,619 - Change in HH corp. equities Net purchases -10 ,729 Revaluation 141 ,348 23 24 25 26 27 28 15 ,146 4 ,055 11 ,091 -3 ,490 4 ,183 -7 ,673 12,,733 3,,873 8 ,860 12 ,817 4 ,367 8 ,450 15 ,211 5 ,930 9 ,281 -4 ,395 5 ,850 -10,,245 27,,847 8 ,751 19,,096 22 ,789 - Change/fin.inst.corp.shares Net purchases 10 ,668 Revaluation 12 ,121 26 27 28 29 30 31 32 33 -9,452 -3,793 -5,706 42 5 -7,639 -2,756 -4,935 52 -4,173 -2,565 -1,668 59 1 -6,733 -2,860 -3,919 46 -2,911 -2,453 -513 52 3 -6,242 -3,836 -2,463 49 8 -18,388 -4,922 -13,527 54 7 + Change in net assets of public -13,417 sectors -4,033 State 8 local governments -9,424 U.S. government 29 Sponsored credit agencies 11 Monetary authority 29 30 31 32 33 34 35 36 918 762 156 -188 969 -1,157 431 1,105 -674 125 678 -553 -222 759 -981 -724 720 -1,444 914 1,308 -394 1,214 1,569 -355 • Change in foreign equities held by U.S. residents Net purchases Revaluation 34 35 36 37 38 39 2,506 323 2,183 -1,472 109 -1,581 2,149 225 1,924 1,350 -292 1,642 764 -400 1,164 -1,956 -305 -1,651 12,868 698 12,170 4,006 2,097 1,909 - Change in U.S. equities held by foreigners Net purchases Revaluation 37 38 39 40 41 42 1,209 159 -7 -67 -1,433 -148 605 3,039 -592 1,395 544 -89 1,241 1,318 -672 -2,104 -1,442 6,125 376 -188 43 29 ,577 - Change in eq.in noncorp.bus. 20 Proprietors' net invest. 21 - 2 ,967 Revaluation of equity 22 32 ,544 Other adjustments: 1,121 + Nonfinancial discrepancy 5,526 + Unallocated financial flows -62 + Unallocated revaluations 40 41 42 (1) Lines 1 3 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 42. (2) Lines 14 - 20 - 23 - 26. 43 1633,518 1697,997 1762,751 1863,570 1981,294 2160,965 2284,289 44 533,815 574,643 606,898 649.774 705,099 771,982 816,382 Data are in millions of dollars. National net worth outstanding 2494,089 at year end 892,652 Gross National Product 43 44 October 1990 National Net Worth National Net Worth 46 Factors Accounting for Change in Consolidated National Net Assets Annual Flows Annual Flows 1969 1970 1971 1972 1973 1974 1975 1976 Domestic investment flows: 1 Purchases of physical assets 2 - Capital consumption 3 = Net capital formation 239,444 141,450 97,994 234,465 154,577 79,888 270,070 169,383 100,687 4 + Net foreign investment by US -1,121 2,978 -10,498 4,485 = Net investment flows 5 by domestic sectors 96,873 82,866 90,189 166,438 91,792 24.234 77,387 18,865 111,737 38,601 116,625 71,002 4,799 -2,232 -6,393 94 -2,598 889 217,749 176,886 313,207 184,349 128,858 363,507 201,554 161,953 364,616 231,333 133,283 354,920 268,788 86,132 439,142 297,791 141,351 24,031 14,752 125,785 110,163 156,103 220,722 128,885 428,321 111,270 220,592 94,900 257,879 176,655 5,721 1,382 18,192 36 -6,519 -158 Adjustments for tangible assets: + Revaluations of reproducible 6 tangible assets 7 • Change in land values 8 - Adjustment of capital consumption to Balance Sheet basis -1 Adjustments to net foreign investment: • Revaluation of U.S. net foreign 9 assets 10 + Reval. of SDR holdings 11 Change in natl. net assets -2,932 9 -19 10 587,689 11 Change in consolidated national net worth: 12 Total, all sectors (1) 217 ,749 176 ,886 234 ,230 307 ,812 523 ,151 683 ,605 418 ,979 587 ,689 12 13 Private sectors, consol. (2) 14 Sector basis, total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Private finan. institutions 212 ,073 123 ,903 37 ,089 8 .339 16 ,455 60 ,135 1 • 885 196 ,894 208 ,648 131 ,074 6 ,115 13 ,553 54 ,090 3 ,816 267 ,426 451 ,503 326 ,208 18 ,700 25 ,645 69 ,803 11 ,147 330 ,798 521 ,350 365 ,437 34 ,946 31 ,304 74 ,700 14,,963 520 ,042 425 ,039 165 ,404 77 ,640 61 ,794 107 ,523 12 ,678 715 ,705 556 ,601 178 ,722 39 ,449 54,,035 284,,856 -461 506 ,757 786 ,256 547 ,287 50 ,152 36 ,430 146 ,875 5 ,512 650 ,804 928 ,227 620 ,062 71 ,304 63 ,553 151 ,135 ,173 20 - Change in eq.in noncorp.bus. 21 Proprietors' net invest. 22 Revaluation of equity 24 .073 -6,.055 301. 128 19,,182 -4,,408 23,,590 43 ,311 - 2 ,200 45 .511 64,,404 -8,,662 73,,066 136 ,165 11,,225 124,,940 91,,316 -30,,260 121, 576 82,,817 -19,,307 102,,124 129 ,091 20 -25,,766 21 154,,857 22 13 14 15 16 17 18 19 23 - Change in HH corp. equities 24 Net purchases 25 Revaluation -107,,827 -7, 298 -100, 529 -16,,459 -2,,765 -13,,694 95,,308 -5,,446 100,,754 84,,026 -8,,792 92,818 -198,,425 -3,,227 -195,,198 -203, 697 -1, 374 -202, 323 138,,747 -5,,785 144,,532 114,,268 23 1,,867 24 112,,401 25 26 — Change/fin.inst.corp.shares 27 Net purchases 28 Revaluation -4, 416 12, 024 -16, 440 9,,031 10,,820 -1,,789 45,,458 19, 380 26,,078 42, 122 21, 434 20, 688 -32,,743 11, 977 -44, 720 -46, 723 5, 642 -52, 365 57,,935 11, 172 46, 763 34,,064 26 8,,740 27 25,,324 28 29 30 31 32 33 • Change in net assets of public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority -1,059 -7,308 6,186 50 13 -20,653 -8,923 -11,810 60 20 -31,749 -8,678 -23,235 123 41 -15,993 1,815 -18,010 174 28 -1,570 5,155 -7,118 347 46 -14,283 -3,042 -12,131 808 82 -81,569 -5,327 -76,684 385 57 34 35 36 + Change in foreign equities held by U.S. residents Net purchases Revaluation 501 1,549 -1,048 -380 1,076 -1,456 1,068 1,113 -45 2,896 619 2,277 -511 672 -1,183 -1,015 -519 -496 574 -921 1,495 -132 34 355 35 -487 36 37 38 39 - Change in U.S. equities held by foreigners Net purchases Revaluation -2,756 1,565 -4,321 448 697 -249 3,602 836 2,766 8,248 2,434 5,814 -5,543 2,763 -8,306 -9,295 539 -9,834 11,092 4,667 6,425 7,636 37 2,753 38 4,883 39 3,896 6,136 -6,554 239 9,229 -7,995 -2,958 4,946 -901 1,204 2,711 —5,556 4,303 5,513 -10,169 9,730 141 -35,968 -2,490 13,321 -6,522 -3,601 40 14,303 41 -5,607 42 2711,838 2888,724 3122,954 3430,766 3953,917 4637,522 5056,501 5644,190 43 963,946 1015,458 1102,684 1212,760 1359,316 1472,807 1598,426 1782,792 44 -60,442 -432 -60.458 383 65 29 30 31 32 33 Other adjustments: 40 • Nonfinancial discrepancy 41 + Unallocated financial flows 42 • Unallocated revaluations CI) Lines 13 + 29 (2) Lines 1 4 - 2 0 43 34 - 37 • 4 0 + 4 1 + 23 - 26. National net worth outstanding at year end 44 Gross National Product Data are in millions of dollars. 42. October 1990 National Net Worth National Net Worth Factors Accounting for Change in Consolidated National Net Assets ^7 Annual Flows Annual Flows 1977 1978 1979 1980 1981 1982 1983 1984 1 2 3 528,552 332,704 195,848 622,423 376,700 245,723 673,799 430,714 243,085 656,250 491,212 165,038 755-387 550,352 205,035 699,925 598,553 101,372 791,400 622,974 168,426 4 -16,536 -2,470 25,896 31,234 27,394 30,837 -28,349 -71,698 + Net foreign investment by US 4 140,077 = Net investment flows 276,514 by domestic sectors 5 Domestic investment flows: 5 179,312 243,253 268,981 196,272 232,429 132,209 1000-400 Purchases of physical assets 652,188 - Capital consumption 348,212 = Net capital formation 1 2 3 Adjustments for tangible assets: 6 7 358,044 207,644 545,636 293,821 520,058 329,385 611,437 305,028 540,896 279,874 64,954 53,373 233,469 189-509 8 -1 -1 -2 -1 -2 13 27 • Revaluations of reproducible 177,248 tangible assets 72,595 + Change in land values - Adjustment of capital consumption 11 to Balance Sheet basis 6 7 8 Adjustments to net foreign investment: 9 10 2,365 116 5,284 65 —4,148 -534 -22,026 -142 7,951 -247 —32,434 -220 -18,047 -317 • Revaluation of U.S. net foreign —22,658 assets 9 -388 + Reval. of SDR holdings 10 11 747,482 1088,060 1113,744 1090,570 1060,905 217,869 544,664 503,300 = Change in natl. net assets 11 Change in consolidated national net worth: 12 747 ,482 1088 ,060 1113 ,744 1090 ,570 1060 ,905 217 ,869 544 ,664 13 14 15 16 17 18 19 793 ,591 897 ,113 555 ,864 49 .776 110 ? 458 166 ,585 14 ,430 1129 ,980 1406 ,595 835 ,088 104 ,588 148 ,918 290 ,570 27 ,431 1166 ,673 1619 ,455 1009 ,676 106 ,801 162 675 306 ,446 33,,857 1174 ,444 1804 ,738 1164 ,094 79 ,950 178 ,373 343 -319 39 ,002 1150,,667 1307 ,208 749,,611 -15,,020 237, 749 328,,470 6,,398 378 ,148 553 ,934 456 ,739 -47 ,218 14 ,721 116 ,269 13 ,423 773 ,177 1122 ,778 946 ,556 5 ,751 62 ,965 84,,947 22,,559 20 21 22 155 • 795 -20 ,226 i 176:,021 246 ,407 -31,,927 278,,334 262,,005 -65,,221 327 ,226 252,,688 -76 ,857 329,,545 223,.969 -48, 360 272,,329 -28 ,403 -91 ,383 , 62 ,980 68,,846 -79,,634 148,,480 -29 ,295 - Change in eq.in noncorp.bus. 20 -86 ,518 Proprietors' net invest. 21 57 ,223 Revaluation of equity 22 23 24 25 -44,,409 -8 ! ,066 -36,,343 -4, 597 -13,.089 8,,492 148,,283 -24 ,465 , 172,,748 300,,294 -12,,328 312,,622 -60,.094 -43, 429 -16, 665 122,,006 -22 ,801 144,,807 149,,655 —26,,985 176,,640 -1 ,554 , - Change in HH corp. equities -81,,820 Net purchases 80,,266 Revaluation 23 24 25 26 27 28 - 7 ,864 ! 11 , 158 -19,,022 34, 805 12, 732 22, 073 42, 494 18,.660 23, 834 77, 312 22,.994 54,,318 -7, 334 28, 052 -35, 386 82,,183 27,,427 54, 756 131 ,100 48, 336 82, 764 1,,516 - Change/fin.inst.corp.shares 13,,270 Net purchases -11, 754 Revaluation 26 27 28 29 30 31 32 33 -42-479 13,703 -56,696 447 67 -35,394 5,327 -41,711 894 96 -19,692 6,949 -27,507 834 32 -54,143 -2,296 -52,724 774 103 -85,656 -9,266 -77,412 916 106 -152,955 -4,755 -149-555 1,281 74 -185,122 3,961 -189-532 397 52 + Change in net assets of public -176,465 sectors 7,309 State 8 local governments -184,528 U.S. government 663 Sponsored credit agencies 91 Monetary authority 29 30 31 32 33 34 35 36 657 408 249 1,126 3,598 1,025 2,573 4,332 2,366 1,966 -1,806 213 -2,019 1,208 1,370 -162 7,296 3,683 3,613 1,153 944 209 37 38 39 -3,170 2,675 -5,845 2,318 2,422 -104 6,221 1,659 4,562 15,126 4,232 10,894 -178 4,829 -5,007 11,888 3,318 8,570 20,078 5,981 14,097 -301 -1,285 984 -3,170 -4,295 1 ,896 -5,038 -2,192 -164 27,816 -2,634 -6,075 -5-874 -6,988 -5,216 42,896 -40,158 75 21,430 -18,149 -5,325 -15,230 -10,054 -351 1,477 503 ,300 Total, all sectors CI) 12 727 ,787 Private sectors, consol. (2) 698 ,454 Sector basis, total 580 ,836 Households -95 ,139 Farm business 57 ,025 Nonfarm noncorp. business 97 ,145 Nonfinancial corporations 58 ,587 Private finan. institutions 13 14 15 16 17 18 19 + Change in foreign equities held by U.S. residents Net purchases Revaluation 34 35 36 - Change in U.S. equities held by foreigners Net purchases Revaluation 37 38 39 Other adjustments: 40 41 42 -5,400 + Nonfinancial discrepancy 17,413 + Unallocated financial flows -61,489 + Unallocated revaluations 40 41 42 (1) Lines 1 3 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 42. (2) Lines 1 4 - 2 0 - 2 3 - 26. 43 6391,672 7479,732 8593,476 9684,046 10744,951 10962,820 11507,484 44 1990,504 2249,677 2508,170 2731,947 3052,632 3165,950 3405,800 Data are in millions of dollars. National net worth outstanding 12010,784 at year end 3772,200 Gross National Product 43 44 October 1990 National Net Worth National Net Worth 48 Factors Accounting for Change in Consolidated National Net Assets Annual Flows Annual Flows Domestic investment flows: 1 Purchases of physical assets 2 - Capital consumption 3 = Net capital formation 1015,325 691,797 323,528 1065,325 740,668 324,657 1122,825 792,300 330,525 1204,550 837,998 366,552 1245,826 895,118 350,708 4 + Net foreign investment by US -104,197 -132,594 -157,959 -136,569 -86,944 219,331 192,063 172,566 114,471 82,522 183,130 215,188 424,792 230,186 270,222 181,091 408,091 213,413 23,253 830 50,162 1,392 -11,256 -194 -40,098 -565 = Net investment flows 5 by domestic sectors 263,764 Adjustments for tangible assets: • Revaluations of reproducible 6 tangible assets 7 + Change in land values 8 - Adjustment of capital consumption to Balance Sheet basis 4,833 Adjustments to net foreign investment: + Revaluation of U.S. net foreign 9 assets 10 + Reval. of SDR holdings -12 ,740 749 11 = Change in natl. net assets 881,830 9 10 835,236 Change in consolidated national net worth: 12 Total, all sectors CI) 399 ,500 568 ,486 881 ,830 13 Private sectors, consol. (2) 14 Sector basis, total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Private finan. institutions 605 ,994 1112 ,407 1056 ,655 -76 ,799 43 ,982 50 ,051 38 518 855 ,639 1228 ,253 1069 ,876 -25 ,511 74 ,621 60 ,848 48 ,419 1096 ,117 1123 ,771 840 523 18 ,473 104 • 086 137 ,134 23 ,555 951 ,993 1281 ,142 1078 ,658 49 ,773 28 ,497 100 ,039 24 ,175 1057 ,632 1823 ,229 1544 ,307 32 , 150 108 ,941 90 ,336 47 ,495 13 14 15 16 17 18 19 20 - Change in eq.in noncorp.bus. 21 Proprietors' net invest. 22 Revaluation of equity -26 ,543 -89 ,162 62,,619 52 ,572 — 46 955 99,,527 116, 590 -91,,053 207, 643 77 ,799 -76,,451 154,,250 137 ,738 -88 ,526 226,,264 20 21 23 - Change in HH corp. equities 24 Net purchases 25 Revaluation 359, 017 -106, 929 465, 946 164, 068 -124, 548 288, 616 321, 667 -112,• 984 434, 651 23 24 25 26 - Change/fin.inst.corp.shares 27 Net purchases 28 Revaluation 173, 939 35- 374 138,565 155, 974 35- 173 120,801 64, 684 30, 925 33, 759 128, 019 -9,415 137. 434 306, 192 4, 357 301 ,835 26 27 28 -211, 336 -198, 843 14 356 -1,859 -4 229,431 7,964 237,069 -412 86 -184,431 -7,776 -177,018 291 72 -213,353 -18,591 -196,153 1,245 146 -185,916 -10,155 -176,755 845 129 29 30 31 >275 689 586 10,721 1,153 9,568 4,657 -2,130 6,787 8,063 909 7,154 33,107 16-654 16,453 34 35 36 29, 522 4, 329 25 193 43,362 17,166 26,196 6,703 15,587 -8,884 25,330 -479 25,809 57,601 6,604 50,997 37 38 39 4 650 19 727 -14 781 1.775 -13-771 -13,085 10-700 -57,602 19,092 28,224 -24 ,882 -59,610 16,929 -5,152 -23,763 40 41 42 12410,284 12978,770 13860,600 14525,705 15360,941 4014, 925 4231,650 4515,600 4873,700 5200,849 29 30 31 32 33 + Change in net assets of public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 34 35 36 + Change in foreign equities held by U.S. residents Net purchases Revaluation 37 38 39 - Change in U.S. equities held by foreigners Net purchases Revaluation -153,• 620 -109, 54 9 -44, 071 665 ,105 123, 331 -115, 439 238, 770 835 ,236 Other adjustments: 40 + Nonfinancial discrepancy 41 + Unallocated financial flows 42 + Unallocated revaluations (1) Lines 1 3 + 2 9 + 34 (2) Lines 1 4 - 2 0 - 23 43 37+40+ 26. National net worth outstanding at year end 44 Gross National Product Data are in millions of dollars. 41 43 44 October 1990 U.S. Net Foreign Assets U.S. Net Foreign A s s e t s Factors Accounting for Change in U.S. Net Foreign Assets Annual Flows 1 2 3 49 Annual Flows 4,918 3,051 -1,887 9,853 9,046 -807 3,018 2,188 -830 1,297 1,335 38 -2,249 1,284 3,533 656 1,313 657 322 U.S. net foreign investment 1,553 Net U.S. acq. of fgn. assets 1,231 -Net fgn. acq. of U.S. assets 1 2 3 4 -623 -2,162 5 4,295 7,691 -1,531 -164 1,743 -52 -380 + U.S.net sales of gold 8 SDRs 4 1,487 1, 133 -506 604 -58 = U.S.net fgn.investment, adj. 5 + Revaluation of foreign equities 9 held by U.S. residents 69 Change in value 60 -Net purchases 6 7 8 6 7 8 59 59 - -14 -29 -15 -43 -28 15 -218 -236 -18 443 467 24 139 215 76 9 10 11 54 -10 -64 -59 -210 -151 -31 -175 -144 206 185 -21 432 435 3 405 525 120 - Revaluation of U.S. corporate equities held by foreigners 9 255 Change in value 10 255 -Net purchases 11 12 13 14 -230 230 390 1,12>9 749 538 1,259 721 415 1,075 660 467 1,088 621 683 1,191 508 890 + Reval. of U.S.dir.Inv.abroad 12 1,742 Change in value 13 852 -Direct investment (1) 14 15 16 17 -4 -4 90 100 10 150 184 34 98 154 56 370 450 80 177 267 90 155 - Reval.of fgn.dir.inv.in U.S. 15 287 Change in value 16 132 -Direct investment (1) 17 18 19 20 -248 -248 1,185 1,185 - 356 356 - 169 169 - -16 -16 - -20 -20 - + Revaluation of U.S. official fgn. exchange 8 net IMF position 18 36 Change in value 19 36 -Net increase in fgn. liab. 20 21 -433 18 424 -339 1,441 -1,345 22 3,637 8,054 2,287 687 1,043 -501 1,274 = Change in U.S.net fgn.assets 22 588 + Other revaluations 23 3,160 11,214 13,501 14,188 15,231 14,730 16,004 Net foreign assets outstanding 23 (1) Excludes capital gains. Data are in millions of dollars. 21 October 1990 U.S. Net Foreign Assets 50 U.S. Net Foreign Assets Factors Accounting for Change In U.S. Net Foreign Assets Annual Flows Annual Flows 1 U.S. net foreign investment 2 Net U.S. acq. of fgn. assets 3 -Net fgn. acq. of U.S. assets -1.728 499 2,227 4 + U.S.net sales of gold 8 SDRs 1.161 40 5 = U.S.net fgn.investment» adj. -567 66 -260 1,245 1,505 26 1,443 1,417 356 3,841 3,485 -1,878 2,753 4,631 -305 2,275 1,075 1,703 4 -1,628 2,631 -803 3,508 5 -368 295 663 6 7 8 -1 ,323 801 2,124 4,569 4,857 288 1,805 5,695 3,890 1 2 3 + Revaluation of foreign equities held by U.S. residents Change in value -Net purchases -79 -130 -51 283 539 256 398 571 173 75 186 111 -427 -392 35 530 862 332 399 594 195 -55 -55 1,121 11 Revaluation of U.S. corporate equities held by foreigners Change in value -Net purchases 1,604 483 1,194 1,321 127 130 386 256 -1,017 -870 147 2,268 2,214 -54 707 1 ,058 351 -264 9 — 61 10 203 11 12 13 14 Reval. of U.S.dir.inv.abroad Change in value -Direct investment (1) 797 1,532 735 711 1,378 667 941 1,764 823 1,159 3,110 1 ,951 447 2,889 2,442 834 2,015 1 , 181 1,046 2,418 1 ,372 -902 12 2.038 13 2,940 14 15 17 Reval.of fgn.dir.inv.in U.S. Change in value -Direct investment CI) 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 307 405 98 251 489 238 -9 15 306 16 315 17 18 19 20 Revaluation of U.S. official fgn. exchange fi net IMF position Change in value -Net increase in fgn. liab. -95 -95 -182 -182 -141 -141 564 564 367 367 -17 -17 39 39 -442 19 -442 20 6 7 8 9 10 16 - 18 Other revaluations 1.203 -509 823 3,930 -234 -303 1 472 21 Change in U.S.net fgn.assets 1,206 -856 788 3,255 4,477 1,117 -315 2,983 22 Memo: 23 Net foreign assets outstanding C1) Excludes capital gains. Data are in millions of dollars. October 1990 U.S. Net Foreign Assets U.S. Net Foreign Assets 51 Factors Accounting for Change in U.S. Net Foreign Assets Annual Flows 1 2 3 2 ,833 6 ,247 3 ,414 Annual Flows 2 ,261 5 ,062 2 ,801 1963 1964 1965 1966 4 ,053 7 ,601 3 ,548 5 ,917 9 ,588 3 ,671 4 ,971 7 ,237 2 ,266 3 ,661 7 ,206 3 ,545 1967 2 ,375 10 ,318 7 ,943 1968 1 ,051 U.S. net foreign investment 9 ,825 Net U.S. acq. of fgn. assets 8 ,774 -Net fgn. acq. of U.S. assets 4 857 890 461 125 1 ,665 571 1 ,170 1 ,173 + U.S.net sales of gold 8 SDRs 5 3 ,690 3,,151 4 ,514 6 ,042 6 ,636 4 ,232 3 ,545 2 ,224 = U.S.net fgn.investment, adj. 6 7 8 156 918 762 -1 , • 157 -188 969 -674 431 1 ,105 -553 125 678 -981 -222 759 -1 ,444 -724 720 -394 914 ,308 + Revaluation of foreign equities 355 held by U.S. residents Change in value 1 ,214 -Net purchases 1 ,569 -1,,581 -1.,472 109 1.,924 2,,149 225 1.,642 1,,350 -292 1 ,164 764 -400 -1,,651 -1.,956 -305 12 ,170 12,,868 698 - Revaluation of U.S. corporate 1 ,909 equities held by foreigners 4 ,006 Change in value -Net purchases 2 ,097 -292 2 •559 851 -23 3,,460 3,,483 -15 3,,744 3,,759 -17 4,,803 4 ,820 ! -3 ,101 1.,724 4,,825 -38 4,,322 4,,360 53 + Reval. of U.S.dir.inv.abroad 3,,218 Change in value 3 ,165 -Direct investment CI) 9 10 11 2. , 183 2,.506 323 12 13 14 198 2,• 852 2: ,654 2, 1 15 16 17 171 482 311 •126 220 346 101 332 231 97 419 322 20 434 414 -169 257 426 171 869 698 84 - Reval.of fgn.dir.inv.in U.S. 892 Change in value 808 -Direct investment CI) 18 19 20 1 251 250 2 •643 645 1 84 83 -46 -46 3 443 440 2 3 1 1 1,,118 1,,117 + Revaluation of U.S. official fgn. 10 exchange 8 net IMF position 2,,053 Change in value 21,043 -Net increase in fgn. liab. 21 691 341 655 2,,000 446 3 =551 995 22 2, 382 3, 752 1, 138 5.,735 4,,903 5, 060 -8, 232 1,,283 = Change in U.S.net fgn.assets 23 31, 041 34, 793 35, 931 41, 666 46, 569 51, 629 43, 397 Memo: 44,'680 Net foreign assets outstanding 1,,344 + Other revaluations (1) Excludes capital gains. Data are in millions of dollars. October 1990 U.S. Net Foreign Assets 52 U.S. Net Foreign Assets Factors Accounting for Change in U.S. Net Foreign Assets Annual Flows 1 U .S. net foreign investment 2 Net U.S. acq. of fgn. assets 3 -Net fgn. acq. of U.S. assets Annual Flows 1969 1970 -1 ,121 9 ,294 10 ,415 2,978 7,830 4,852 1971 -10 ,498 11 ,539 22 ,037 1972 1973 1974 1975 1976 —6,964 11,340 18,304 4 ,485 16 ,952 12 ,467 - 7 ,498 18 , 153 25 ,651 24,031 28,821 4,790 14 ,752 40 ,196 25 ,444 1 2 3 4 + U.S.net sales of gold 8 SDRs -967 — 64 617 -156 9 -172 — 66 -78 4 5 = U.S.net fgn.investment, adj. -2 ,088 2,914 - 9 ,881 -7,120 4 ,494 -7 ,670 23,965 14 ,674 5 + Revaluation of foreign equities held by U.S. residents Change in value -Net purchases -1 ,048 501 1 ,549 -1»456 -380 1,076 -45 1,,068 1 ,113 2,277 2,896 619 -1 ,183 , -511 672 -496 -1 ,015 519 1,495 574 -921 -487 -132 355 6 7 8 Revaluation of U.S. corporate equities held by foreigners Change in value -Net purchases —4 • ,321 - 2 ,756 ! 1 ,565 -249 448 697 2,,766 3. 602 836 5,814 8,248 2,434 - 8 , 306 -5,,543 2 ,763 : -9 ,834 -9 ,295 529 6,425 11,092 4,667 4 ,883 9 7 ,636 10 2 ,753 11 6 7 8 - 9 10 11 12 13 14 + Reval. of U.S.dir.inv.abroad Change in value -Direct investment (1) 226 5 ,157 4 ,931 , -203 6,565 6,768 -338 6.,119 6,,457 -629 5,115 5,744 82 10,,212 10,,130 -287 8 ,649 8 , 936 -272 13,776 14,048 810 12 12 ,443 13 11 ,633 14 15 16 17 - Reval.of fgn.dir.inv.in U.S. Change in value -Direct investment (1) -260 1,.003 1,,263 -12 1,452 1,464 276 644 368 6 954 948 2,,888 5,,688 2,.800 -173 4 ,588 4 ,761 -85 2,518 2,603 -1,,238 15 3,,108 16 4,,346 17 + Revaluation of U.S. official fgn. exchange 8 net IMF position Change in value -Net increase in fgn. liab. 75 287 212 4 -2,541 -2,545 33 ,699 -1 , -1,,732 -7 -159 -152 3 -146 -149 2 1,,297 1 ,295 , -348 435 783 -18 18 2,,462 19 2,,480 20 18 19 20 + Other revaluations 965 -838 -3,,001 1,581 1,,401 8,,966 -1,054 408 21 22 = Change in U.S.net fgn.assets 2,,711 682 -16, 274 -9,718 10,,215 10,,522 17,446 11,,742 22 Memo: 23 Net foreign assets outstanding 47, 391 48,073 31, 799 22,081 32, 296 42, 60,264 72, 006 23 (1) Excludes capital gains. Data are in millions of dollars. 00 21 October 1990 U.S. Net Foreign Assets U.S. Net Foreign Assets 53 Factors Accounting for Change In U.S. Net Foreign Assets Annual Flows Annual Flows 1977 1 2 3 536 -16! 24 075 40,.611 1978 1979 1980 1981 1982 -2,-470 57,,997 60, 467 25 ,896 56 .435 30 ,539 31,,234 55,,321 24,,087 27, 394 44, 806 17, 412 30, 837 29, 763 -1,,074 1983 -28, 349 25, 642 53, 991 1984 -71, 698 U.,S. net foreign investment Net U.S. acq. of fgn. assets 13, 435 85, 133 --Net fgn. acq. of U.S. assets 1 2 3 4 -239 1,,184 -1 ,201 -16 -1, 723 -1.,372 -65 979 + U.S.net sales of gold 8 SDRs 4 5 -16,,775 -1 ,286 24 ,695 31,,218 25, 671 29,,465 -28, 414 -72, 677 = U.S.net fgn.investment, adj. 5 + Revaluation of foreign equities held by U.S. residents 209 Change in value 1, 153 -Net purchases 944 6 7 8 6 7 8 249 657 408 1 ,477 1 ,126 -351 2 ,573 3 ,598 1 ,025 1 ,966 4 ,332 2 ,366 -2,.019 -1, 806 213 -162 1,,208 1,,370 3,,613 7 ,296 3,,683 9 10 11 -5 ,845 -3 ,170 2 ,675 -104 2 ,318 2 ,422 4 ,562 6 ,221 1 ,659 10 ,894 15 ,126 4 ,232 -5,,007 -178 4,,829 8 ,570 11 ,888 3 ,318 14 ,097 20,,078 5 ,981 - Revaluation of U.S. corporate equities held by foreigners 9 984 Change in value -301 10 -Net purchases -1, 285 11 12 13 14 - 2 ,709 8 ,799 11 ,508 286 16 ,379 16 ,093 -346 26 ,479 26 ,825 6 ,671 30 ,227 23 ,556 3,,774 16,,359 12,,585 -21 ,674 -11 ,479 10 ,195 - 7 ,236 2 ,587 9 ,823 -7,,371 + Reval. of U.S.dir.inv.abroad 12 6,,007 Change in value 13 -Direct investment (1) 13, 378 14 97 3 ,825 3 ,728 24 7 ,876 7 ,852 178 11 ,991 11 ,813 13 ,269 28 ,584 15 ,315 372 25 ,668 25,,296 2 ,153 15 ,963 13 ,810 863 12 ,382 11 ,519 1,,954 - Reval.of fgn.dir.inv.in U.S. 15 Change in value . 27,,522 16 -Direct investment (1) 25,,568 17 79 215 136 452 452 -293 -361 -68 -212 7 ,926 8 ,138 -1 ,510 1 ,843 3 ,353 -861 2 ,731 3 ,592 -1 ,089 41 1 ,130 + Revaluation of U.S. official fgn. exchange & net IMF position 18 -1,,555 Change in value 596 19 -Net increase in fgn. liab. 20 2,,151 21 -1 ,002 3 ,441 -1 ,342 - 6 ,288 22 -14 ,410 3 ,998 20 ,547 23 57 ,596 61 ,594 82 ,141 15 , 16 17 18 19 20 9 ,192 91 ,333 3 ,071 33 , 622 124 ,955 -11,,003 + Other revaluations 986 1 ,625 - 2 ,969 -46 ,461 -95,,335 = Change in U.S.net fgn.assets 22 121 ,986 75 ,525 Memo: -19 ,810 Net foreign assets outstanding 23 (1) Excludes capital gains. Data are in millions of dollars. 21 October 1990 U.S. Net Foreign Assets 54 U.S. Net Foreign Assets Factors Accounting for Change in U.S. Net Foreign Assets Annual Flows 1 U •S. net foreign investment 2 Net U.S. acq. of fgn. assets 3 -Net fgn. acq. of U.S. assets Annual Flows -104 ,197 4 , 553 108 ,750 -132 ,594 27 ,987 160 ,581 -157 ,959 14 ,464 172 ,423 -136 ,569 33 ,227 169 ,796 -86 ,944 94 ,684 181 ,628 4 + U.S.net sales of gold 8 SDRs -897 -246 -510 127 535 5 = U.S.net fgn.investment, adj. 105 ,094 -132 ,840 -158 ,469 -136 ,442 - 8 7 ,479 + Revaluation of foreign equities held by U.S. residents Change in value -Net purchases 8 ,586 12 ,275 3 ,689 9 ,568 10 ,721 1 ,153 : 6 ,787 4 ,657 - 2 ,130 7 ,154 8 ,063 909 16 ,453 33 ,107 16 ,654 Revaluation of U.S. corporate equities held by foreigners Change in value -Net purchases 25 , 193 29!, 522 4,,329 26 ,196 43 362 17,,166 - 8 ,884 6 ,703 15,,587 25 ,809 25,,330 -479 50 ,997 57 ,601 6 ,604 9 10 11 6 7 8 - 9 10 11 12 13 14 + Reval. of U.S.dir.inv.abroad Change in value -Direct investment CI) 6,,046 15,,730 9,,684 12,• 293 24, 682 12,,389 24 ,669 50,,659 25,,990 3,,144 16,,466 13,,322 10,•132 33,,826 23,,694 12 13 14 15 16 17 - Reval.of fgn.dir.inv.in U.S. Change in value -Direct investment (1) -459 20,• 032 20, 491 -345 35, 799 36, 144 4,,111 51 ,376 47, 265 -507 57, 063 57. 570 2, 289 71, 966 69, 677 15 16 17 + Revaluation of U.S. official fgn. exchange 8 net IMF position Change in value -Net increase in fgn. liab. 3, 651 6, 611 2, 960 4, 809 4, 250 559 5, 040 -4, 619 -9, 659 -1, 372 2, 669 4, 041 1, 733 26, 491 24, 758 18 19 20 18 19 20 21 + Other revaluations -6, 289 -24, 072 8 893 5, 120 -15, 130 22 = Change in U.S.net fgn.assets - 117,834 -156, 093 -108, 307 -147, 698 -127, 577 Memo: 23 Net foreign assets outstanding - 137, 644 -293, 737 -402, 044 -549, 742 -677, 319 (1) Excludes capital gains. Data are in millions of dollars. October 1990 Tangible Asset Holdings Tangible Asset Holdings 55 Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1948 1949 1950 1951 1 2 3 4 5 6 47.266 21.989 2.220 4,044 18.765 248 55.472 30.508 1,611 4,997 18,069 287 69.999 36,223 6,042 6,729 20,693 312 61.521 38.054 3.662 4,546 14,911 348 85.849 47.761 5,309 8,358 24,007 414 90.342 47,499 5.778 6,080 30,526 459 82.782 Purchases of physical assets 46.779 Households 3,571 Farm business 6,460 Nonfarm noncorp. business 25,567 Nonfinancial corp. bus. 405 Financial institutions 1 2 3 4 5 6 7 8 9 10 11 12 23.310 11,412 1,212 3,127 7.344 215 28,573 13,969 1,500 3,899 8,968 237 33,038 16,083 1,817 4,454 10,418 266 36,113 17,853 2.069 4,716 11,199 276 39,458 19,848 2.305 4,999 12,018 288 45,663 23,139 2.671 5,695 13,830 328 49.708 Capital consumption 25,582 Households 2,925 Farm business 6,009 Nonfarm noncorp. business 14,838 Nonfinancial corp. bus. 354 Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 23,956 10,577 1>008 917 11.421 33 26,899 16.539 111 1,098 9.101 50 36,961 20.140 4.225 2,275 10,275 46 25,408 20,201 1.593 -170 3,712 72 46,391 27,913 3.004 3,359 11,989 126 44,679 24,360 3,107 385 16,696 131 33.074 Net capital formation 21.197 Households 646 Farm business 451 Nonfarm noncorp. business 10,729 Nonfinancial corp. bus. 51 Financial institutions 13 14 15 16 17 18 4,918 9,853 3,018 1,297 -2,249 656 23 24 25 1,436 14,261 -943 -917 -11,996 1.031 -3.278 2,907 -61 -1,098 -5,760 734 -5.563 4,864 -4.184 -2,275 -4,912 944 3,004 454 -1,570 170 3,067 883 -8,438 3,848 -2,971 -3,359 -7,673 1,717 -922 10,596 -3,108 -385 -8.772 747 12.007 14.708 -677 -451 -3.187 1,614 26 27 28 29 30 1,135 234 881 20 - 14,293 55 14,215 23 - 8,510 -146 8,657 -1 - -3,717 -234 -3,494 11 - 4,268 -3,019 7.270 17 4,331 -1,124 5.448 7 -10,394 -5,503 -4.919 28 20 21 - - 322 Net foreign investment CI) Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. - -1.291 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 52,665 13.661 8,271 11 ,514 13,907 -5,263 49 56,690 17,320 6,301 12,288 14,825 -5,899 57 20,572 7,262 -2,192 5,455 7,723 -2,152 172 961 1,172 -1 ,651 1,416 1 ,887 1,856 -7 43,404 15,817 6,514 6,380 9,525 -4,965 203 32,935 12,846 2,795 6,807 9,000 -1,199 288 6.060 Reval. of physical assets 3,106 Households -565 Farm business 1.110 Nonfarm noncorp. business 3,308 Nonfinancial corp. bus. 1.000 - Inventory valuation adj. 101 Financial institutions 32 33 34 35 36 37 38 39 40 41 42 43 52,665 20,392 19,292 12,68 9 292 56,690 22,946 19,834 11 ,401 2,509 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 Revaluations by type of asset 3,965 Residential structures 5,118 Plant and equipment -3,892 Inventories 869 Consumer durables 39 40 41 42 43 44 45 46 47 48 49 13,260 3,000 5,073 2,937 2,236 14 11,772 3,921 1.337 3,288 3,193 33 8,686 2,958 802 2,436 2,454 36 4,200 2,037 -1 ,799 2,007 1,943 12 21,755 4,010 11,914 2,847 2,933 51 18,005 3,837 7,859 2,858 3,386 65 8,591 Change in land values 2,739 Households 481 Farm business 2,341 Nonfarm noncorp. business 2,999 Nonfinancial corp. business 31 Private finan. insts. 44 45 46 47 48 49 50 51 52 53 54 -3 126 54 -1 153 65 -219 167 74 -241 -1 170 81 -252 176 87 -262 -1 189 98 -289 - Adj. to capital consumption 195 Households 105 Farm business -301 Nonfarm noncorp. business 1 Nonfinancial corp. business 50 51 52 53 54 -181 -2 55 56 57 58 59 60 61 49,837 48,690 36,250 1,277 3.127 6.769 1.267 66,487 52, 180 33,415 1,550 3,899 12,309 1.007 72,946 64,423 41 ,087 1,858 4 ,454 15,781 1,243 60,808 64,510 38,508 2,092 4,716 17,978 1 ,216 81 ,679 77,388 51,609 2,338 4,999 16,334 2,108 93,751 89,395 58.095 2.670 5.695 21.754 1.181 62 63 64 65 66 1.147 234 881 30 2 14,307 55 14.215 34 3 8,523 -146 8,657 10 2 -3.702 -234 -3.494 23 3 4,291 -3,019 7,270 31 9 4,356 -1,124 5,448 24 8 Memo: Total gross domestic investment, 84.395 Flow of Funds basis 55 94,763 Private sectors 56 61.487 Households 57 2.894 Farm business 58 6.009 Nonfarm noncorp. business 59 22.380 Nonfinancial corp.business 60 1.993 Private finan.institutions 61 -10.368 -5.503 -4.919 45 9 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority (1) Lines 2 0 + 2 6 + Data are in millions of dollars. 31. 62 63 64 65 66 October 1990 Tangible Asset Holdings 56 Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1953 1954 87 ,600 51 ,646 1 ,445 7 ,842 26 ,028 639 86,,166 51,,995 2,,442 7,• 812 23,,245 672 7 Capital consumption Households 8 Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Financial institutions 12 53 ,341 27 ,777 3 ,082 6 ,255 15 ,851 376 13 Net capital formation Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Financial institutions 18 34 ,259 23 ,869 -1 ,637 1 ,587 10 ,177 263 19 Net foreign investment (1) Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. -1 ,728 -260 26 8 ,036 10 ,499 1 ,586 -1 ,587 -3 ,933 1 ,471 7,,751 6,,141 737 .350 -1 , -537 2,,760 -2,,172 ,073 5, 916 -2,,748 -6,,920 1 ,507 , 2,,778 12,,204 138 172 -11 = , 128 1,,392 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority -11 ,293 -3 ,490 -7,810 7 -9,,291 -3,,829 -5,,466 4 697 -3,,240 3,,937 931 -2,,977 3,.916 -8 -3,, 122 -4,,662 1 ,528 , 12 1 ,529 1,,280 1,,501 32 Reval. of physical assets 33 Households Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - Inventory valuation adj. Financial institutions 38 2 ,052 -2 ,068 1 ,087 185 1 ,845 -1 ,000 3 2,,637 -259 564 788 1 ,245 , -300 -1 20,,998 2,,987 1,,211 4 ,253 , 10,,552 -1 ,750 , 245 35,, 166 8 ,344 = 1,532 6,,419 15,,808 ,675 388 8,,614 -3, 888 2,,858 1,459 6, 555 • 525 -1 , 105 8 ,775 3,,423 1 ,413 , 1 ,740 1 ,886 -250 63 4,,400 -1 , 147 252 1 ,, 056 3, 873 -277 89 -2,,977 -3,952 1 ,524 : 649 "I ,429 -173 58 32 33 54 35 36 37 38 39 Revaluations by type of asset Residential structures 40 Plant and equipment 41 Inventories 42 Consumer durables 43 2 ,052 768 1 ,917 633 -1 ,266 2 ,637 , 4 ,256 1 ,952 , -695 ,876 20,,998 8 , 151 13 ,706 = 1,,576 -2,,435 35,, 166 4 ,878 , 20,,356 4,, 151 5,,781 8,614 1 ,224 8,,803 2,,178 -3,,591 8 ,775 2,,785 2,,416 1,,518 2,,056 4,,400 1,,042 4 ,274 , -304 -612 -2 ,977 905 -1 ,991 734 -2 ,625 39 40 41 42 43 44 Change in land values 45 Households Farm business 46 Nonfarm noncorp. business 47 Nonfinancial corp. business 48 49 Private finan. insts. 7 ,687 2 ,540 -1 ,386 2 ,467 3 ,987 79 15 ,135 3 ,478 3 , 225 3 ,010 5 ,306 116 17 ,210 4,,514 4 ,562 3 ,345 4 ,642 147 28,,293 9,,173 6 ,926 4,,616 7,,382 196 21,,704 3,,641 6,,473 3,,831 7,,559 200 23,,281 3,,865 8,955 3 ,505 6 ,744 212 20,321 4,,190 6 ,546 3 ,590 5 ,787 208 50 Adj. to capital consumption 51 Households Farm business 52 Nonfarm noncorp. business 53 Nonfinancial corp. business 54 198 112 -311 1 -3 200 118 -320 -1 -1 206 125 -331 -1 214 139 -352 -1 -3 218 147 -369 1 —1 157 -380 1 229 168 -396 - - Memo: Total gross domestic investment, Flow of Funds basis 84 ,343 Private sectors 95 ,606 Households 62 , 145 Farm business 3 ,031 Nonfarm noncorp. business 6 ,255 Nonfinancial corp.business 22 ,095 Private finan.Institutions 2 ,080 84 ,626 93 ,892 58 ,136 3 ,179 6 ,462 22 ,708 3 ,407 107 ,116 106 ,388 68 ,491 3 ,267 6 ,778 25 ,497 2 ,355 114,,573 113 ,604 74 .651 3 ,442 7 ,355 25 ,940 2 ,216 115,,434 118,,506 76,998 3,,548 7,,784 28,,353 1,,823 101 ,218 117 ,776 76 ,065 3 ,627 7 ,98 6 27 ,028 3 ,070 -9 ,266 - 3 ,829 - 5 ,466 22 7 728 - 3 ,240 3 ,937 23 8 969 - 2 ,977 3 ,916 14 16 -3,,072 -4,,662 1 ,528 , 37 25 -16 ,558 - 5 ,508 -11 ,113 49 14 1 Purchases of physical assets Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 6 Financial institutions 20 21 22 23 24 25 26 27 28 29 30 31 55 56 57 58 59 60 61 62 63 64 65 66 Unallocated financial flows Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority (1) Lines 2 0 + 2 6 + 31. Data are in millions of dollars. 1956 1957 1958 1959 108,,591 63,,418 2,,351 9,,526 32,,417 879 110,,864 62,,447 3 ,304 = 7 ,183 = 37,,068 862 110, 741 62, 090 2, 508 9,,549 35, 683 911 100,,673 59,, 154 4,,126 8,,729 27,,798 866 122,,980 69,,394 3,,713 10,890 37,,931 1,,052 57 ,591 30,,763 3,,192 6,,462 16,,763 411 60 = ,650 32,,353 3,,300 6,,778 17,,782 437 67, 517 36,,142 3,,485 7,,355 20,.027 508 72,,918 38, 934 3 =599 7, 784 043 558 76,,260 40,,980 3,,659 7 ,986 = 23 = ,052 583 79,,780 43,,078 3,,732 8,,226 24,, 128 616 82 ,586 44 ,591 3 ,740 8,469 25 , 126 660 7 8 9 10 11 12 28,,575 21 , ,232 -750 1 ,350 , 6,,482 261 47, 941 31,.065 -949 2,,748 14, 635 442 43,,347 26,• 305 -181 -172 17 = ,041 354 37, 823 23, 156 ,091 -1 , 1,,765 13,640 353 24,,413 18 = ,174 467 743 4,,746 283 43,,200 26,,316 -19 2,,664 13,,803 436 39 ,059 24 ,768 -192 1.,617 12 ,493 373 13 14 15 16 17 18 4, 569 356 -1 ,878 , 7,,815 14,,908 1 ,040 , ,765 -1 , -7,,330 962 17,139 16,911 -499 -743 -770 2,,240 3,,538 10,,543 -18 -2,,664 -6,,026 , 1 ,703 5 ,241 12 ,653 157 -1 ,617 - 8 ,435 2 ,483 20 21 -7,, 116 -4,,168 -2,,938 -10 -1 ,836 — 3 ,314 1 ,469 9 26 27 28 29 30 - -11 ,263 -3 ,490 - 7 ,810 27 10 1955 " -1,,323 ~ -5,,032 -16,,594 -5,,508 -11,,113 27 - - -124 -189 1,,700 1960 121 ,645 1 69 ,359 2 3 , 548 3 10 ,086 4 37 ,619 5 1 ,033 6 1 ,805 19 23 24 25 -1,, 600 31 21 ,622 44 10 , 1 1445 1 ,311 46 4 ,895 47 5 ,097 48 205 49 236 176 -413 1 50 51 52 53 54 119,,402 126 ,472 79 ,937 3,,695 8 ,226 31 ,905 2,,709 125 ,050 126 ,837 82 ,012 3,705 8 ,469 29 ,184 3 ,467 55 56 57 58 59 60 61 - 7 ,070 - 4 ,168 - 2 ,938 23 13 -1 ,787 -3 ,314 1 ,469 43 15 62 63 64 65 66 - October 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets 57 Annual Flows Annual Flows 1961 1962 1963 1964 1965 1966 144, 905 79,,017 4, 637 15,,332 44, 775 1,, 144 156, 473 85, 057 3, 985 15, 926 49, 746 1. 759 179, 610 92, 321 6, 458 17, 351 61, 444 2, 036 197,.135 97, 436 5,.897 16, 254 75, 557 1,.991 87,,799 47,,620 3,,762 8,,864 26, 823 730 91 =280 49,.522 3,,807 9,,155 27,,998 798 95, 666 51, 889 3,893 9, 569 29, 445 870 100, 628 54, 042 4, 046 10, 101 31, 459 980 107,,489 56,,961 4, 288 10,,850 34,,284 1,,106 46,,871 24, 861 406 4, 410 16, 630 564 53,,625 29,,495 830 6,,177 16,.777 346 60, 807 33,,168 92 6, 357 20, 301 889 78, 982 38; 279 2, 412 7, 250 29, 985 1, 056 89,,646 40,,475 1 ,609 , 5,,404 41,,273 885 1 2 3 4 5 6 119, 017 66, 145 3, 711 11. 667 36, 520 974 134, 670 72, 481 4, 168 13, 274 43, 453 1, 294 7 8 9 10 11 12 85, 200 46,,264 3,,734 8,,635 25,,876 691 13 14 15 16 17 18 33, 817 19,,881 -23 3,.032 10, 644 283 1967 . 1968 196, 314 98, 269 7, 046 17, 243 71, 559 2, 197 218, 006 Purchases of physical assets Households 113, 974 Farm business 6, 351 Nonfarm noncorp. business 18, 622 Nonfinancial corp. bus. 75, 629 Financial institutions 3,,430 1 2 3 4 5 6 116, 768 61,.773 4, 552 11,.614 37, 563 1,.266 127, 999 Capital consumption Households 67,,619 4, 852 Farm business Nonfarm noncorp. business 12,.583 Nonfinancial corp. bus. 41,.427 Financial institutions 1, 518 7 8 9 10 11 12 79, 546 36, 496 2,,494 5,,629 33, 996 931 90, 007 Net capital formation Households 46, 355 Farm business 1,,499 Nonfarm noncorp. business 6,,039 Nonfinancial corp. bus. 34, 202 Financial institutions 1,,912 13 14 15 16 17 18 19 2,,833 2,,261 4,,053 5,,917 4,,971 3,,661 2,,375 20 21 22 23 24 25 12,,097 17,,026 -6 -3,,032 -4,,645 2,,754 11,,473 18,,318 -407 -4,,410 -4,,940 2,,912 5,,036 17,,356 -947 -6,,177 -5,,858 662 11,,919 23,,449 -102 -6 = ,357 -7, 006 1,,935 6, 777 27,,394 -2, 366 -7,,250 -11,,780 779 10,,655 35,,944 -1,,527 -5,,404 -18,,964 606 21,,251 42,,506 -2,,453 -5,,629 -14,,257 , 1 ,084 9,,314 33,,055 -1,,456 -6,,039 -17,,462 1,,216 26 27 28 29 30 -9,,423 -3,,793 -5,,670 40 -7,,779 -2;,756 -5,,052 29 -4,,022 -2,,565 -1,,507 50 -6,,546 -2,,860 -3,,710 24 -3,,124 -2,,453 -669 -2 -5,,552 -3,,836 -1,,651 -65 -18,,688 -4,,908 -13,,795 15 -13,,789 -4,,033 -9,,651 -105 31 159 -1,,433 3,,039 544 1,,318 -1,,442 -188 32 33 34 35 36 37 38 -1 ,549 -1 ,596 1 ,027 -461 -419 271 171 96 - 2 ,888 1,,884 1,,091 -232 26 267 -5,,974 — 6 ,719 ! 710 -1 ,853 1 ,584 54 358 12 ,863 i 3,,484 475 3,,310 4,,771 -494 329 11,,915 -3,,613 3, 571 3,,294 6,,898 -1,,245 520 45 ,466 17,,797 1 ,660 , 9 ,806 13 ,286 - 2 ,107 810 36,,010 14,,025 1,,272 5,,098 13,,283 -1,,554 778 95,,372 Reval. of physical assets 43,,437 Households 4,,780 Farm business Nonfarm noncorp. business 17,,149 25 136 Nonfinancial corp. bus. -3,,651 - Inventory valuation adj. Financial institutions 1,,219 32 33 34 35 36 37 38 39 40 41 42 43 -1,549 548 -49 -728 -1 ,320 96 355 2 ,398 459 -3 ,116 - 5 ,974 - 7 ,506 2 ,976 -56 -1 ,388 12 ,863 , 10, 485 6 ,094 466 -4,,182 11,,915 4,,502 11,,495 3 ,760 ! -7,,842 45 ,466 24 ,842 19 ,421 1 ,941 -738 36 ,010 13 ,199 17 ,394 1 ,953 3 ,464 95,,372 Revaluations by type of asset 50 ,462 Residential structures Plant and equipment 34 ,360 6 ,470 Inventories Consumer durables 4 ,080 39 40 41 42 43 44 45 46 47 48 49 19 ,383 4 ,111 5 ,723 3 ,663 5 ,622 264 14 ,649 3 ,816 5,184 3 ,514 1 ,916 219 16 ,423 2 ,883 7 ,887 3 ,507 1 ,973 173 21 ,537 5 ,831 8 ,141 4 ,218 3 ,091 256 23,,328 4 ,823 11 ,065 3 ,968 3,,251 221 40 ,327 20 ,096 7 ,985 8 ,443 3 ,654 149 17 ,168 5 ,435 9 ,289 2 ,252 234 -42 24 ,307 Change in land values 13:,134 Households 6 ,139 Farm business Nonfarm noncorp. business 4 ,858 Nonfinancial corp. business 1 175 Private finan. insts. 44 45 46 47 48 49 50 51 52 53 54 -3 244 183 -430 -1 256 192 -448 -1 -3 270 203 -475 -1 -2 286 212 -499 -1 -2 308 227 -537 -2 337 245 -583 -1 -2 361 265 -629 1 - 4 Adj. to capital consumption 393 Households 288 Farm business -684 Nonfarm noncorp. business Nonfinancial corp. business -1 50 51 52 53 54 55 56 57 58 59 60 61 121 ,691 131 ,081 83 ,171 3 ,705 8 ,635 31 ,875 3 ,695 138 ,364 146 ,100 90 ,799 3 ,761 8 ,864 38 ,513 4 ,163 145 ,919 149 ,905 96 ,373 3 ,690 9 ,155 38 ,917 1 ,770 161 ,846 168 ,333 108 ,506 3 ,883 9 ,569 42 ,740 3 ,635 183 ,263 186 ,316 119 ,715 4 ,092 10 ,101 49 ,664 2 ,744 202 ,238 207 ,712 133 ,380 4 ,370 10 ,850 56 ,593 2 ,519 198 .877 217 ,476 140 ,775 4 ,593 11 .614 57 ,302 3 .192 62 63 64 65 66 -9 ,390 -3 ,793 - 5 ,670 62 11 - 7 ,736 - 2 ,756 -5 ,052 66 6 -3 ,986 - 2 ,565 -1 ,507 80 6 - 6 ,487 - 2 ,860 - 3 ,710 77 6 - 3 ,053 - 2 ,453 -669 61 8 - 5 ,474 -3 ,836 -1 ,651 4 9 -18 ,599 ,908 -13 .795 91 13 - - - - - - - 1,,051 Net foreign investment (1) Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. - 5,,526 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 26 27 28 29 30 31 Memo: Total gross domestic investment, 213 ,531 Flow of Funds basis 55 Private sectors 228 ,513 56 Households 147 ,029 57 Farm business 4 ,895 58 Nonfarm noncorp. business 59 12 ,583 59 ,497 Nonfinancial corp.business 60 4 ,509 Private finan.institutions 61 -14 ,982 - 4 ,033 - 1 0 ,981 22 10 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority (1) Lines 2 0 + 2 6 + Data are in millions of dollars. 19 20 21 22 23 24 25 31. 62 63 64 65 66 October 1990 Tangible Asset Holdings 5 8 Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1969 1 Purchases of physical assets Households 2 3 Farm business Nonfarm noncorp. business 4 5 Nonfinancial corp. bus. 6 Financial institutions 1970 1971 1972 1973 1974 1975 1976 239 ,444 121 ,503 6 ,780 22 ,901 84 ,660 3,,600 234 ,465 119 ,405 7 ,387 23 ,695 80 ,568 3,,410 270 ,070 140 ,873 9 ,141 30 ,169 85 ,709 4 ,178 313,,207 164,,170 9,,276 39,,139 95,,404 5 ,218 363 ,507 183 ,396 14 ,082 42 ,492 117 ,374 6,,163 364, 616 180, 396 11, 211 32,,931 132, 430 7, 648 354,,920 193,,876 16,,904 25,,609 108,,562 9,,969 439 ,142 237 ,517 13 ,570 27 ,350 151 ,397 9 ,308 7 Capital consumption 8 Households Farm business 9 10 Nonfarm noncorp. business Nonfinancial corp. bus. 11 12 Financial institutions 141 ,450 75,,325 5 ,251 13 ,831 i 45 1 ,351 1,,692 154,,577 82,,319 5,, 63 J 14,,971 49,,798 1,,858 169,,383 90 ,201 5 ,942 16,,426 54,,701 2 ,113 184,,349 97,,377 6,,605 17,,989 59,,952 2,,426 201 ,554 106 ,567 7,,228 19,,965 65 ,023 2,,771 231, 333 120, 828 8, 308 22,677 75, 995 3, 525 268,,788 137,,106 9,,789 26,,107 91 ,338 , 4,,448 297 ,791 7 8 151 ,657 , 10 ,771 9 28,,514 10 101 ,605 , 11 5 ,244 12 13 Net capital formation 14 Households Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 18 Financial institutions ,994 97 i 46 ,178 1,,529 9,,070 39 i ,309 1,,908 79,,888 37,,086 1,,756 8,,724 30,,770 1,,552 100,,687 50,,672 3,,199 13,743 31 ,008 , 2,,065 128,,858 66,,793 2,,671 21,,150 35,,452 2,,792 161,,953 76,,829 6 ,854 22:,527 52,,351 3 ,392 133, 283 59, 568 2,,903 10,,254 56,,435 4,, 123 86,,132 56, 770 7,,115 -498 17,,224 5 ,521 4 ,485 -7, 498 24,• 031 987 80,,016 - 6 ,255 -22,,527 -50,,616 369 5, 012 60, 208 -2,,681 -10,,254 -37, 254 -5, 007 90,,620 101 .745 , -6,,568 498 10,,387 -15,,442 60,,018 20 77,,723 21 -2,• 355 22 1,,164 23 -17,,062 24 548 25 -12, 651 -3,,042 -9, 544 -65 -79,,910 -5,,327 -74,,610 27 -59 ,569 -432 -59,,269 132 19 Net foreign investment (1) Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 20 21 22 23 24 25 26 27 28 29 30 31 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 2,,978 -10,,498 -6,,964 15,,853 52,,501 -1,,748 -8,,724 -20,,300 -5,,876 16,,628 48 ,954 -3,, 184 -13,,743 —16,062 663 7,,355 51,,946 -2,,499 -21 , 150 -16,,930 -4,,012 -1 ,257 , -7,,308 6,,247 -196 -22,,104 -8,,923 -12,,954 -227 - 3 2 ,072 - 8 ,678 -23 ,469 75 -17,,030 1,,815 -18,,961 116 - - -2,,015 5 , 155 -7,,009 -161 - ~ 13 14 15 16 17 18 14,,752 19 - 26 27 28 29 30 6 ,136 9 ,229 4 ,946 2,,711 5,,513 141 32 Reval. of physical assets 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Financial institutions 91,,792 36 ,179 , 6 ,579 15,,473 26 ,68 9 -5 ,870 1 ,002 , 77 ,387 27 ,030 2,,123 11.,310 28 ,982 -6 ,552 1,,390 111 ,737 43 ,790 7 ,404 19 ,682 34 ,573 - 4 ,584 1,,704 116,,625 47,,731 13,,693 17,,880 29 ,383 -6,,610 1,,328 220,,722 86,,209 24 ,697 30,,604 56 ,797 -20,,022 2,,393 428,,321 145, 218 14, 828 53, 028 169,,347 -39, 457 6, 443 220,• 592 78,,199 5 ,662 29,,771 93,,294 -10,,952 2,,714 257,,879 110,,877 7,,692 46 ,907 73 ,168 -14 ,911 4 ,324 32 33 34 35 36 37 38 39 Revaluations by type of asset 40 Residential structures 41 Plant and equipment Inventories 42 43 Consumer durables 91,,792 41 ,871 35 ,761 10,,870 3,,290 77 ,387 20,,246 43,,546 4 ,797 8 ,798 111 ,737 , 55 ,594 50,,869 9,,725 - 4 ,451 116,,625 61,,194 41 ,958 , 17,,312 -3,,839 220,,722 100,,258 68 .420 47 ,436 4,,608 428, 321 120,037 209, 249 55,,255 43, 780 220, 592 75,,539 110,,775 11 ,139 , 23,,139 257 ,879 127 ,230 98 ,068 18 ,436 14,,145 39 40 41 42 43 44 Change in land values 45 Households 46 Farm business 47 Nonfarm noncorp. business 48 Nonfinancial corp. business 49 Private finan. insts. 24 ,284 12 ,099 2 ,672 5 ,626 3 ,633 254 18 ,865 7 ,459 4 ,584 4 ,058 2 ,632 132 38 ,601 16 ,594 11 ,904 6 ,912 2 ,951 240 71 ,002 , 19 ,694 23 ,859 18 ,766 8 ,325 358 128 ,885 35 ,934 54 ,433 25 ,841 12 ,343 334 111 , ,270 31, 762 29,.805 26,,233 ,785 685 94,,900 18,,866 46,,326 23,,638 5 ,901 169 176 ,655 57 ,437 71 ,001 33 ,957 13 ,729 531 44 45 46 47 48 49 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business -1 444 320 -765 548 421 -967 -2 -3 618 467 -1:,087 -1 -1 368 549 -918 -1 423 672 -1,,093 -3 -3 473 768 -1 ,243 -1 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 Unallocated financial flows -1 ,121 , ,000 -6 ! 27:,628 -1,,468 -9,,070 -19 ! ,110 ,980 -3 i 141 ,351 85 ,860 2,,799 -1,,164 49 ,792 4 ,064 1 2 3 4 5 6 - Memo: Total gross domestic investment, Flow of Funds basis 232 ,187 Private sectors 233 ,319 Households 149 ,131 Farm business 5 ,312 Nonfarm noncorp. business 13 ,831 Nonfinancial corp.business 65 ,594 -549 Private finan.institutions Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority (1) Lines 20 + 2 6 + 31. Data are in millions of dollars. -1 ,132 - 7 ,308 6 ,203 -41 14 469 349 -817 -1 -2 505 373 -880 - 13,,321 14,.303 31 228 ,214 250 ,457 171 ,906 5 ,639 14 ,971 60 ,597 - 2 ,656 254 ,626 287 , 182 189 ,827 5 ,957 16 ,426 70,,364 4 ,608 303 ,532 321,,267 216 ,116 6,,777 17,,989 79 ,386 999 362 ,479 367 ,294 263 ,412 7 ,827 19 ,965 69 ,926 6 ,164 356, 977 375, 589 240,,604 8,,530 22,.677 101,.666 2,.112 365,,630 446,,284 295,,621 10,,336 26,,107 120,,272 -6,,052 439 ,591 502 ,490 315 ,240 11 ,215 28 ,514 138 ,308 9 ,213 55 56 57 58 59 60 61 -22 ,243 - 8 ,923 -13 ,283 -58 21 -32,,556 -8,,678 -24,,186 270 38 - 1 7 ,735 1 ,815 -19,,873 293 30 - 4 ,815 5 ,155 - 1 0 ,177 165 42 -18,,612 -3,.042 — 16,,034 409 55 -80,,654 -5,,327 -75,,933 535 71 -62 ,899 -432 -63 ,242 710 65 62 63 64 65 66 October 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets 59 Annual Flows Annual Flows 1 2 3 4 5 6 528 -552 284 ,225 19 ,088 39 ,282 176 ,801 9 ,156 622 ,423 327 ,703 20 ,870 47 ,366 215 ,688 10 ,796 673 ,799 356 ,068 26 ,235 44 ,312 234 ,194 12 ,990 656 ,250 342 ,694 14 ,138 46 ,594 238 ,680 14 , 144 755 ,387 362 ,050 24 ,116 71 ,518 281 ,453 16 ,250 699 ,925 354 ,980 13 -805 65 ,212 248 ,319 17 ,609 791,400 436,525 4,146 68,454 262,761 19,514 1000-400 Purchases of physical assets 506,184 Households 20,102 Farm business 81,674 Nonfarm noncorp. business 361,776 Nonfinancial corp. bus. 30,664 Financial institutions 7 8 9 10 11 12 332 ,704 169 ,015 12 ,099 31 ,945 113 ,615 6 ,030 376 ,700 190 ,344 13 ,557 36 ,564 129 ,499 6 ,736 430 ,714 215 ,204 15 ,34 5 42 ,935 149 ,257 7 ,975 491 ,212 243 ,638 17 ,591 49 ,850 170 ,927 9 ,206 550 ,352 264 ,363 19 ,363 57 ,359 198 ,403 10 ,864 598 ,553 280 ,913 20 ,455 63 ,767 220 ,973 12 ,445 622,974 295,297 22,400 64,181 227,745 13,351 652,188 Capital consumption 309,394 Households 22,500 Farm business 67,383 Nonfarm noncorp. business 238,053 Nonfinancial corp. bus. 14,858 Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 195 ,848 115 ,210 6 ,989 7 ,337 63 , 186 3 , 126 245 ,723 137 ,359 7 ,313 10 ,802 86 ,189 4 ,060 24 3 ,085 140 ,864 10 ,892 1 ,377 84 ,937 5 ,015 165 ,038 99 ,056 -3 ,453 -3 ,256 67 ,753 4 ,938 205 ,035 97 ,687 4 ,753 14 ,159 83 ,050 5 ,386 101 ,372 74 ,067 -6 ,650 1 ,445 27 ,346 5 ,164 168,426 141,228 -18,254 4,273 35,016 6,163 348,212 Net capital formation 196,790 Households -2,398 Farm business 14,291 Nonfarm noncorp. business 123,723 Nonfinancial corp. bus. 15,806 Financial institutions 13 14 15 16 17 18 27 ,394 -71,698 Net foreign investment (1) Net financial investment: 96,446 Private sectors 184,297 Households 3,066 Farm business -14,291 Nonfarm noncorp. business -50,264 Nonfinancial corp. bus. -26,362 Private finan. insts. 20 21 22 23 24 25 1 2 3 4 5 6 19 -16 ,536 -2 ,470 25 ,896 31 ,234 20 21 22 23 24 25 30 ,362 74 ,756 -6 ,698 -7 ,337 -31 ,030 671 37 ,041 60,,499 - 6 • 411 -10,,802 -22,• 023 15,,778 71 ,099 62 475 -9 ,977 -1 ,377 3,,631 16 ,347 103 ,121 103 ,731 3 ,920 3 ,256 -22 ,635 14 ,849 72 ,201 148 ,880 — 4 ,530 -14 , 159 -39 ,658 -18 ,332 26 27 28 29 30 -43,,728 12,,159 -56,, 044 157 -34, 473 5,,327 -39,,728 -72 -17 ,387 6 ,949 -24,,198 -138 -66 ,013 -2 ,296 -63 339 -378 -8 7 ,703 -9 ,266 -77 ,871 -566 31 -3,,170 -5,,038 -27, 816 -5,,874 42 ,896 32 33 34 35 36 37 38 358-• 044 164 ,050 10: 969 65, 559 95, 994 -16, 637 4, 835 545, 636 220, 464 33, 290 96,813 166, 051 -25,298 3, 720 520, 058 184, 774 18, 034 122, 083 147, 403 -43, 175 4, 589 611 , ,437 188,,930 31,.021 132, 033 208,,381 -43,, 129 7, 943 540,,896 162,,094 11 ,553 , 120, 074 214,,529 -24,, 189 8,,457 64, 954 -67, 382 5, 441 36,,309 76, 385 -10, 350 3,851 233,469 113,532 22 ,820 52,292 33,200 -10,900 725 177,248 Reval. of physical assets 28-590 Households 4,548 Farm business 66,966 Nonfarm noncorp. business 69,881 Nonfinancial corp. bus. -5,800 - Inventory valuation adj. 1,463 Financial institutions 32 33 34 35 36 37 38 39 40 41 42 43 358,044 190, 263 127, 213 21 ,130 19, 4 38 545, 636 235, 076 220, 457 53, 921 36, 182 520, 058 235, 121 160, 473 73, 626 50,838 611 ,437 216, 408 259, 4 67 72,804 62, 758 540, 896 207, 002 269, 087 25, 668 39, 139 64, 954 -57, 646 107, 611 7, 021 7, 968 233,469 151,917 56,254 22,806 2,492 177,248 Revaluations by type of asset 105,184 Residential structures 88,505 Plant and equipment 3,276 Inventories -19,717 Consumer durables 39 40 41 42 43 44 45 46 47 48 49 207, 644 82- 172 45, 536 57, 013 22, 601 322 293,821 105, 596 80 ,816 73, 228 34- 297 116 329, 385 105, 709 101 ,687 91 ,947 32, 018 24 305 ,028 82, 159 68, 589 102,877 50, 703 700 279, 874 124, 350 -10, 358 113, 156 51,871 875 53, 373 5, 151 -39, 077 55, 942 30, 993 364 189,509 92,209 3,193 69,190 24,445 472 72,595 Change in land values 55,905 Households -99,009 Farm business 75-592 Nonfarm noncorp. business 38,978 Nonfinancial corp. business 1,129 Private finan. insts. 44 45 46 47 48 49 50 51 52 53 54 -1 548 891 -1 ,440 -1 644 1 ,027 -1 ,673 1 -2 773 1 ,193 -1 ,967 -1 -1 909 1 ,399 308 -1 -2 1 ,030 1 ,570 603 1 13 1 ,113 1 ,680 -2, 782 2 27 1,160 106 -1,259 20 11 Adj. to capital consumption 1,242 Households 100 Farm business -1,321 Nonfarm noncorp. business -10 Nonfinancial corp. business 50 51 52 53 54 55 56 57 58 59 60 61 515, 186 560, 725 358, 981 12, 390 31 ,945 148, 241 9, 168 624 ,991 660, 742 388, 202 14, 459 36, 564 195, 638 25,879 727, 511 748, 780 418, 543 16,258 42, 935 242, 570 28, 474 693, 358 763, 38 7 446, 425 18, 058 49,850 221, 042 28, 012 739,885 831, 153 510, 930 19,586 57, 359 246, 642 -3, 364 709, 332 873, 469 538, 914 20, 952 63, 767 244, 244 5, 592 778,281 972-363 616,871 22,978 64,181 260,880 7,453 62 63 64 65 66 -45,539 12, 159 -58,514 759 57 -55, 751 5, 327 -41, 701 58 7 36 -21,269 6-949 -28, 943 675 50 -70- 029 -2,296 — 68,336 513 90 -91 ,268 -9,266 -82, 718 620 96 -164, 137 —4 ,755 -161 ,189 1, 681 126 -194,082 3,961 -200,412 2,278 91 ~ - - 30 ,837 -28,349 167 ,250 183 ,934 7 ,147 -1 ,445 -11 ,866 -10 ,520 174 ,680 180,346 18,832 -4,273 —9,666 -10,559 -157 ,843 -4 ,755 -153 ,398 310 -187,799 3,961 -192,627 867 - 21,,430 -185,557 7,309 -193,061 195 17,413 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows 26 27 28 29 30 31 Memo: Total gross domestic investment, 911,289 Flow of Funds basis 55 1103,154 Private sectors 56 690,481 Households 57 23,168 Farm business 58 67,383 Nonfarm noncorp. business 59 319,414 Nonfinancial corp.business 60 2,708 Private finan.institutions 61 -191-865 7,309 -200,963 1,650 139 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority (1 ) Lines 20 + 26 + 31 . Data are in millions of dollars. 19 62 63 64 65 66 October 1990 Tangible Asset Holdings Tangible Asset Holdings Details of Changes in Stocks of Tangible Assets Annual Flows Annual Flows 1985 1 Purchases of physical assets Households 2 3 Farm business 4 Nonfarm noncorp. business 5 Nonfinancial corp. bus. 6 Financial institutions 1986 1987 1988 1989 1015 ,325 548 ,885 7 ,361 84 ,241 336 ,826 38 ,012 1065 325 603 ,777 7 ,658 88 ,074 323 • 207 42 ,609 1122 • 825 645 ,659 7 ,223 71 ,964 351 ,138 46 ,841 1204 ,550 700 ,791 4 ,059 70 ,859 375 ,028 53 ,813 7 Capital consumption 8 Households 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corp. bus. 12 Financial institutions 691 ,797 332 ,303 ,000 70 ,502 250 ,497 16 ,495 740 ,668 361 ,699 21 ,200 73 ,411 265 ,290 19 .068 792 ,300 390 ,118 20 ,500 79 ,988 279 ,602 22 ,092 837 ,998 412 ,092 20 ,536 84 ,696 295 ,269 25 ,405 895 , 118 432 ,761 20 ,674 96 ,702 315 ,433 29 ,548 7 8 9 10 11 12 13 Net capital formation 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corp. bus. 18 Financial institutions 323 ,528 216 ,582 -14 ,639 13 ,739 86 ,329 21 ,517 324 ,657 242 ,0 78 -13 ,542 14 ,663 57 ,917 23 ,541 330 525 255 ,541 -13 ,277 -8 ,024 71 ,536 24 ,749 366 ,552 288 ,699 -16 ,477 -13 • 837 79 ,759 28 ,408 350 ,708 299 • 128 -11 • 342 -32 ,924 64 ,403 31 ,443 13 14 15 16 17 18 19 Net foreign investment (1) Net financial investment: Private sectors Households Farm business 23 Nonfarm noncorp. business 24 Nonfinancial corp. bus. 25 Private finan. insts. -104 •197 -132 ,594 -157 ,959 26 27 28 29 30 -202 ,838 14 ,356 -214 -779 - 2 ,415 20 21 78 ,914 126 , 722 15 .496 -13 ,739 -19 , 969 -29 ,596 -136 ,569 78 ,415 89 ,924 14 ,206 8 ,024 -8 , 767 -24 ,972 98 ,776 153 ,284 17 ,849 13 ,837 -40 ,456 -45 ,738 -235 ,456 7 ,964 -242 ,287 -1 ,133 -178 ,772 -7 ,776 -170 • 668 -328 -210 ,463 -18 ,591 -191 ,745 -127 19 • 727 -13 ,771 -57,,602 -24 ,882 , 32 Reval. of physical assets 33 Households 34 Farm business 35 Nonfarm noncorp. business 36 Nonfinancial corp. bus. 37 - Inventory valuation adj. 38 Financial institutions 114 ,471 32 , 159 -1 ,546 , 57 ! ,502 30 • . 128 -1 , ,675 -5, 447 183 130 73 3,,632 33: 641 74,.780 6 ,750 , 4,,205 424,. 792 170,,016 12, 900 110 . 729 111, 988 -19,.425 -266 39 Revaluations by type of asset 40 Residential structures Plant and equipment 41 Inventories 42 43 Consumer durables 114,.471 82, 290 39 ,260 -5- 949 .130 -1 , 183 ,130 86, 952 102 ,788 -17-. 124 10 ,514 44 Change in land values 45 Households 46 Farm business Nonfarm noncorp. business 47 48 Nonfinancial corp. business 49 Private finan. insts. 82 •522 50: 237 -77 ,898 78- 209 30, 740 1 ,234 50 Adj. to capital consumption 51 Households 52 Farm business 53 Nonfarm noncorp. business 54 Nonfinancial corp. business 4 •833 6 ,100 149 -1 ,389 -27 31 55 56 57 58 59 60 61 62 63 64 65 66 Public sectors State & local governments U.S. government Sponsored credit agencies Monetary authority Unallocated financial flows " Memo: Total gross domestic investment, Flow of Funds basis 891,401 Private sectors 1096, 610 Households 675, 607 Farm business 22 -857 Nonfarm noncorp. business 70, 502 Nonfinancial corp.business 321, 233 Private finan.institutions 6, 411 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority (1 ) Lines 20 + 26 + 31. Data are in millions of dollars. 116 ,633 162 ,821 14 , 181 -14 ,663 -29 064 -16 ,642 -205- 209 14, 356 -219, 155 •498 88 1245 ,826 731 889 9 ,332 63 ,778 379 ,836 60 ,991 1 2 3 4 5 6 -86 ,944 19 109 ,230 119 ,039 13 , 189 32 ,924 -30 ,854 -25 ,088 20 21 22 23 24 25 -191 ,022 -10 135 -178 874 ,013 - 26 27 28 29 30 -5 , 152 31 270 222 40,,810 16,,214 55 719 123, 796 -26,• 975 6,• 708 408 ,091 115,,308 23, 158 113,• 642 126- 408 -21 •674 7, 901 32 33 34 35 36 37 38 424 ,792 244, 962 133 -591 37, 344 8,895 270, 222 66, 824 139, 204 51, 385 12, 809 408, 091 206 ,619 171 ,768 26- 040 3- 664 39 40 41 42 43 215-. 188 122,. 150 -35, 033 94 .618 31 ,928 1 ,525 230, 186 119, 912 6-521 75- 177 26, 609 1 ,967 181 •091 71 ,096 39, 877 44 ,604 23, 805 1 ,709 213, 413 105- 877 20 ,573 58, 489 26, 228 2, 246 44 45 46 •528 468 446 -1 ,367 —75 732 965 588 — 4 ,191 -94 4 ,741 10, 527 •108 -5, 538 •140 9, 369 430 -23 -12,803 •235 50 946, 502 1187, 118 766. 598 21 .839 73, 411 301 ,337 23, 933 1022, 4 68 1202. 202 735, 583 21 ,429 79, 988 345- 307 19,895 1092, 863 1304, 225 854 ,075 21 ,908 84 ,696 337, 879 5, 667 1164, 034 1354, 122 850 ,928 521 96, 702 351, 400 32,571 55 -240- 616 7, 964 -249, 481 754 147 -179, 734 -7, 776 -173- 604 1 ,510 136 -211 ,362 -18 ,591 -195. 052 2, 065 216 -190. 088 -10, 135 -181 ,272 1 ,131 188 62 63 64 48 49 53 54 57 58 59 60 61 66 October 1990 Households Households 61 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1948 1947 1949 1952 1950 Households, Personal Trusts, and Nonprofit Organizations 1 36, 250 33, 415 41, 087 38, 508 51, 609 58, 095 Gross investment of household sector, from 61, 487 Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 1 2 3 4 5 5 21, 989 14, 261 18, 416 4, 155 30, 508 2, 907 11, 070 8, 163 36, 223 4, 864 12, 903 8, 039 38, 054 454 8, 996 8, 542 47, 761 3,848 16, 949 13, 101 47, 499 10, 596 19, 484 8, 888 46, 779 14, 708 27, 096 12, 388 6 11, 412 13, 969 16,,083 17, 853 19,848 23,,139 25,,582 - Capital consump. allow.,NIPA 6 34,,956 = Net investment flow, Balance Sheet basis 35,,905 7 7 24, 838 19,,446 25,,004 20,,655 31,,761 10 126 11,,538 11,.412 153 14,,122 13,,969 167 16,,250 16,,083 170 18,,023 17,,853 176 20,,024 19,,848 189 23,,328 23,,139 8 195 - Depreciation valuation adj. Depreciation charges 9 25,,777 10 -Cap. consump. allow., NIPA 25, 582 11 12 13 14 13,,661 24,,112 11 ,538 , 21,,989 17,,320 33,,706 14,,122 30,,508 7,,262 27,,235 16,,250 36,,223 1,,172 21,,203 18,,023 38,,054 15,,817 43,,554 20,,024 47,,761 12,,846 37,,017 23,,328 47,,499 3,,106 + Reval. of physical assets Change in value 24,,108 Depreciation charges 25,,777 -Gross purchases, FOF basis 46,,779 11 12 13 14 15 16 17 18 13,,661 11,,688 1,,681 292 17,,320 13,,135 1,,676 2,,509 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 Revaluation by type of asset Residential structures Nonres. plant & equipment Consumer durables 15 16 17 18 19 3 ,000 3 ,921 2 ,958 2 ,037 4 ,010 3 ,837 2,,739 8 20 21 22 -9 ,315 —8 ,143 1 ,172 - 3 ,250 - 2 ,138 1 ,112 - 2 ,089 -1 ,113 976 8 ,614 9 ,309 695 23 ,541 24 ,218 677 6 ,148 6 ,148 6 ,294 6 ,294 7 7 ,663 7 ,656 27 ,480 31 ,309 3 ,829 20 ,273 21 ,558 1 ,285 3 ,434 2 ,905 -529 5 ,062 5 ,062 5 ,403 5 ,403 5 ,299 5 ,299 5 ,576 5 ,576 26 27 28 26 ,839 28 ,908 2 ,069 23 ,295 24 ,141 846 6 ,602 11 ,091 4 ,489 237 750 513 737 29 -1 1 30 58 ,896 60 ,580 39 ,570 32 ,545 103 ,170 92 ,527 31 32 721 ,868 158 ,915 782 ,448 168 ,779 822 ,018 188 ,150 854 ,563 187 ,941 957 ,733 207 ,475 1050 ,260 227 ,593 Data are in millions of dollars. - - - 19 12,683 ,683 * Reval. of corporate equities 20 12 14,136 Change in value 21 14 ,136 1 /r7 urrhiMir OO -Net npurchases 22 1 ,453 20 ,804 22 ,630 1 ,826 23 24 25 + Change in the value of land holdings Reval. of life insurance & pension fund reserves Change in value -Net acquisitions Change in value -Net inv. in noncorp. bus. 24 + Other revaluations -24 23 24 25 26 27 29 57,655 57 ,655 = Change in net worth 1107 ,915 239 ,795 31 32 October 1990 Households Households 62 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1954 1955 Households, Personal Trusts. and Nonprofit Organizations 1 2 3 4 5 Gross investment of household sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 - Capital consump. allow.,NIPA = Net investment flow, Balance Sheet basis 62, 145 58,,136 68, 491 74,,651 76,,998 76,.065 79,.937 82,,012 1 51, 646 10, 499 23,.671 13,.172 51,.995 6,. 141 18,,335 12,,194 63, 418 5, 073 25,.777 20,.704 62,,447 12,.204 28,.479 16,,275 62,,090 14,,908 27,,385 12,,477 59,.154 16,,911 29,,797 12,.886 69,.394 10, 543 33,.239 22,.696 69,,359 12,,653 30,,289 17,,636 2 3 4 5 27,.777 30,,763 32,.353 36,,142 38,,934 40,,980 43,.078 44,,591 6 7 34,,368 27,,373 36,.138 38,,509 38,,064 35,,085 36,.859 37,,421 8 - Depreciation valuation adj. Depreciation charges 9 10 -Cap. consump. allow., NIPA 198 27,.975 27,.777 200 30,,963 30,,763 206 32, 559 32,.353 214 36,.356 36,, 142 218 39,, 152 38,,934 222 ,202 41 , 40,,980 229 43,,307 43,,078 236 8 44,• 827 9 44,,591 10 11 + Reval. of physical assets 12 Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis -2,,068 21,,603 27,,975 51,,646 -259 20,,773 30,,963 51,,995 2,.987 33,,846 32,,559 63,,418 8,,344 34,,435 36,,356 62,,447 -3,,888 19,,050 39 ,152 62 ,090 3 ,423 21,,375 41,,202 59,,154 -1,• 147 24,,940 43,• 307 69,,394 -3,• 952 20,• 580 44,• 827 69,• 359 11 12 13 14 15 16 17 18 -2,,068 -632 -170 -1,• 266 -259 2,,651 -34 -2,,876 2,,987 4,,501 921 -2,,435 - 3 ,888 -419 122 - 3 ,591 3,,423 1 ,659 -292 2 ,056 -1,• 147 -418 -117 -612 -3,,952 -1,• 067 -260 -2,• 625 15 16 17 18 7 19 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + Change in the value of land holdings 20 + Reval. of corporate equities 21 Change in value 22 -Net purchases 23 24 25 + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 + Reval. of noncorp. equity 27 Change in value 28 -Net inv. in noncorp. bus. 29 + Other revaluations 30 = Change in net worth Memo: 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 8,• 344 1,,439 1,,124 5 ,781 3 ,478 , 4,,514 9:,173 3 ,641 3 ,865 4 ,190 10,• 114 19 71,• 890 72 ,605 715 50 i ,161 51 ,274 1,• 113 16 ,780 18 ,794 2 ,014 : -39 ,163 -37 ,705 1 ,458 104 ,177 105 ,929 1 ,752 28 ,114 28 ,680 566 -6,• 513 20 — 6,• 534 21 -21 22 4 7 .866 7 ,862 53 7 ,877 7 ,824 2 ,265 10 ,797 8 ,532 5 9 ,514 9 ,509 -662 8 ,826 9 ,488 2 ,733 13 ,111 10 ,378 1 ,246 13:,115 11 ,869 88 23 24 11 ,636 , 11:• 548 25 2 ,443 2 ,100 -343 7 ,579 5 ,354 - 2 ,225 13 ,314 10 ,896 - 2 ,418 19 ,261 17 ,620 -1 ,641 14 ,383 13 ,256 -1 ,127 15 ,321 15 ,396 75 11 ,273 , 7 ,796 -3,,477 8 ,247 26 5 ,409 27 - 2 ,838 28 -1 1 1 2,,540 -9,,057 - 8 ,015 1,,042 - - 28 ,032 109 ,913 109 ,174 91 .859 12 ,157 1135 ,947 255 ,105 1245 ,860 260 ,597 1355 ,034 278 .771 1446 ,893 297 ,542 1459 ,050 313 ,969 1 412 12 29 164 ,383 80 ,718 45 ,181 30 1623 ,433 324 ,886 1704 ,151 344 ,629 1749 ,332 31 358 ,928 32 October 1990 Households Households 63 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1962 1963 1964 1965 1966 1967 Households, Personal Trusts, and Nonprofit Organizations 1 8 3 , ,171 90,,799 96,,373 108,,506 119,,715 133,,380 140,,775 147,,029 2 3 4 5 66,,145 17, 026 34, 906 17, 880 72,,481 18,,318 39,,794 21,,476 79,,017 17,,356 46,,600 29,,244 8 5 , ,057 23,,449 53 i,070 29,,621 92,,321 2 7 , ,394 5 8 , ,277 30,,883 97, 436 35,,944 5 9 , 422 2 3 , ,478 98,,269 42,,506 67,,739 25,,233 113,,974 33,,055 68,,730 35,,675 6 4 6 , 264 47,,620 49,,522 51,,889 5 4 , ,042 56,,961 61,,773 Gross investment of household sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 67,619 ,619 - Capital consump. allow.,NIRA 67, Net investment flow, Balance Sheet basis 7 36,,907 43,,179 46,, 8 5 1 56 ,617 65,,673 76,,419 79,,002 79,,410 8 9 10 244 46, 508 4 6 , ,264 256 4 7 , ,876 4 7 , ,620 270 49,,792 49,,522 286 52 ,175 5 1 ,889 308 54,,350 5 4 , ,042 337 57,,298 56,,961 361 62,,134 61,,773 393 68,,012 67,,619 11 12 13 14 - 1 , 596 18,,041 4 6 , 508 66 i,145 - 2 , ,888 21,,717 47,,876 72,, 4 8 1 - 6 , ,719 22 ,506 49,,792 79 ,017 3 ,484 36 ,366 52 ,175 85 ,057 - 3 , ,613 34,,358 54,,350 92,,321 17,,797 57,,935 57,,298 97,,436 14,,025 50 ,160 62 ,134 98 ,269 15 16 17 18 - 1 , ,596 -580 304 - 1 , ,320 - 2 , ,888 -202 430 - 3 , ,116 - 6 ,719 - 5 , ,925 594 - 1 ,588 3 ,484 7 ,040 626 - 4 ,182 - 3 ,613 2,,922 1,,307 - 7 ,842 17,,797 16 ,470 2,,065 -738 14 ,025 9 ,538 1 ,023 3 ,464 43,,437 35 ,525 3,,832 4,,080 19 4 ,111 3 ,816 2:,883 5 ,831 4 ,823 20,,096 5 ,435 13,,134 20 21 22 104,,282 105:,346 1,,064 - 6 2 ,281 - 6 3 ,711 - 1 ,430 78 ,007 76 ,420 - 1 ,587 50 ,940 50 ,625 -315 72 ,393 70 ,766 - 1 , ,627 - 5 9 ,999 - 6 0 ,133 -134 147 ,814 144 , 5 2 1 - 3 ,293 23 24 25 4,,201 16 ,284 12 ,083 - 3 ,274 9 ,750 13 ,024 3 ,926 17 ,800 13 ,874 4 ,064 20 ,445 16 , 3 8 1 4 ,103 21 ,089 16 ,986 - 5 ,000 14,,327 19 ,327 8 ,396 27 ,150 18 ,754 6 ,590 26,,532 19,,942 26 27 28 9 ,696 9 ,747 51 11 , 4 4 1 11 , 4 9 9 58 9 ,889 10 , 9 9 9 1 ,110 15 ,928 15 , 122 -806 21 ,421 21 ,680 259 27 , 7 7 1 27 ,366 -405 17 ,622 16 ,542 - 1 ,080 32,,544 + Reval. of noncorp. equity Change in value 29 ,577 -Net inv. in noncorp. bus. -2 ,967 . 29 -255 679 154 834 -19 10 128 30 157 ,102 - 9 ,584 134 , 7 2 1 137 ,412 164 ,473 76 ,757 272 , 0 6 1 31 32 1906 ,434 373 ,774 1896 , 8 5 0 396 , 1 6 7 2031 , 5 7 1 415 ,834 2168 ,983 451 , 4 1 3 2333 ,456 486 ,808 2410 ,213 525 ,910 2682 , 2 7 4 562 , 0 9 2 Data are in millions of dollars. 1 2 3 4 5 6 7 9 Depreciation charges -Cap. consump. allow., NIPA 10 43,,437 + Reval. of physical assets Change in value 8 9 , ,399 Depreciation charges 68 ,012 -Gross purchases, FOF basis 113,,974 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + Change in the value of land holdings 11 12 13 14 15 16 17 18 19 143 ,397 + Reval. of corporate equities 20 Change in value 21 137,,176 -Net purchases 22 - 6 ,,221 + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions -249 + Other revaluations 317 ,870 = Change in net worth 3000 ,144 609 ,582 23 24 25 26 27 28 29 30 31 32 October 1990 Households Households 64 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1969 1970 1971 1972 1973 1974 1975 1976 Households» Personal Trusts, and Nonprofit Organizations 1 Gross investment of household sector, from Flow of Funds Accounts 2 3 4 5 6 - 7 8 9 10 11 12 13 14 + 15 16 17 18 171 ,906 189 ,827 216 ,116 263 ,412 240 ,604 295 ,621 315 ,240 1 121 ,503 27 ,628 58 ,911 31,,283 119 ,405 52 ,501 74 ,408 21 ,907 140 ,873 48 ,954 95 ,463 46 ,509 164 ,170 51 ,946 118 ,521 66 ,575 183 ,396 80 ,016 151 ,561 71 ,545 180 ,396 60 ,208 110,,673 50,,465 193 ,876 101 ,745 153 ,764 52 ,019 237 ,517 77 ,723 170 ,329 92 ,606 2 3 4 5 Capital consump. allow.,N1PA 75 ,325 82 ,319 90 ,201 97 ,377 106 ,567 120,,828 137 , 106 151 ,657 6 Net investment flow, Balance Sheet basis 73,,806 89 ,587 99 ,626 118 ,739 156 ,845 119,,776 158 ,515 163 ,583 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 444 75,,769 75,,325 469 82 ,788 82 ,319 505 90 ,706 90 ,201 548 97 ,925 97 ,377 618 107 ,185 106,567 368 121 , 196 120,,828 423 137 ,529 137 ,106 473 8 152 ,130 9 151 ,657 10 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 36,,179 81,,913 75,,769 121,,503 27 ,030 63 ,647 82,,788 119,,405 43 ,790 93 ,957 90 ,706 140 ,873 47 ,731 113 ,976 97 ,925 164 ,170 86 ,209 162 ,420 107 ,185 183 ,396 145,,218 204,,418 121,,196 180,,396 78 ,199 134 ,546 137 ,529 193 ,876 110 ,877 196,,264 152,,130 237,,517 11 12 13 14 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 36,,179 28,,461 4,,428 3,,290 27 ,030 13,,864 4,,368 8,,798 43 ,790 41 ,857 6 ,384 - 4 ,451 86 ,209 74 ,411 7 ,190 4 ,608 145,,218 86,,493 14,,945 43,,780 110,,877 89,335 7,,397 14,,145 15 16 17 18 + 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 -6,,084 15,,753 21,,837 30,,128 24, 073 -6,,055 19 20 21 22 149 ,131 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 23 24 25 26 27 28 + Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 29 + Other revaluations 30 = Change in net worth Memo: 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 47 46 5 -3 ,731 ,296 ,274 ,839 78 ,199 50 ,934 4 , 126 23 ,139 12,,099 7,,459 16 ,594 19 ,694 35 ,934 31,,762 18 ,866 57,,437 19 -109,,551 -111,,779 -2,,228 -16,,807 -17,,536 -729 108 ,132 103 ,814 -4,,318 96 ,207 87 ,403 -8,,804 -206,,854 -211 ,113 , -4,,259 -213,,476 -215,,580 -2,,104 151 ,874 145 ,684 -b ,190 117,.447 20 116, 955 21 -492 22 2,,201 26,,390 24,, 189 15 ,451 43 ,428 27 ,977 11 ,841 60,,292 48,,451 -25 ,868 14:,018 39 ,886 -29,,243 14 ,466 , 43,,709 34,,895 106:,816 71 ,921 15,• 572 23 72, 214 24 56,.642 25 23,,590 19,, 182 -4,,408 45 ,511 43,,311 -2,,200 73 ,066 64 ,404 - 8 ,662 124 ,940 136,,165 11 ,225 , 121,,576 91, 316 -30 j • 260 102,, 124 82,,817 -19,,307 154,,857 26 129,,091 27 -25,,766 28 956 -1 ,517 , -2,,391 -1,,293 -5,,184 3, 477 3,,237 762 29 37,,089 131,,074 326,,208 365,,437 165,,404 178,,722 547,,287 620,,062 30 3037,,233 656,,687 3168,,307 715,,595 3494 ,515 776 ,784 3859,,952 839,,596 4025,,356 949,,769 4204, 078 1038,.372 4751,,365 1142,,782 5371 ,427 31 1252,.645 32 October 1990 Households Households 65 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1978 1979 1980 1981 1982 1983 Households, Personal Trusts, and Nonprofit Organizations Gross investment of household sector , from Flow of Funds Accounts 1 358 981 388 202 418; 543 446, 425 510, 930 538, 914 616, 871 690,481 2 3 4 5 284 74 215 140 327 60 230 170 703 499 817 318 356, 068 62, 475 237,,199 174,,724 342,,694 103,• 731 231, 763 128,• 032 362,,050 148, 880 266, 606 117, 726 354, 980 183, 934 274, 311 90, 377 436, 525 180, 346 379,,409 199, 063 506,184 184,297 418,008 233,711 6 169 015 190 344 215,,204 243,,638 264,,363 280,.913 295,.297 309,394 - Capital consump. allow.,NIPA 225 756 199 443 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities Net investment flow, Balance Sheet basis 1 2 5 4 5 6 7 189 966 197 858 203,,339 202,,787 246,,567 258, 001 321,,574 8 9 10 548 169 563 169,,015 644 190 988 190,,344 773 215,,977 215,,204 909 244,• 547 243, 638 1,,030 265,,393 264,,363 1 .113 , 282,.026 280 913 1,,160 296 ,457 295 ,297 1,242 310,636 309,394 Depreciation valuation adj. 8 Depreciation charges 9 -Cap. consump. allow., NIPA 10 11 12 13 14 164,, 050 278, 712 169, 563 284,,225 220, 464 357,• 179 190,.988 327,,703 184,,774 324,,865 215,• 977 356 ,068 188,,930 287 ,077 244 ,547 342 ,694 162,,094 258 ,751 265 ,393 362 ,050 -67,,382 5 ,572 282,,026 354,,980 113 253 296 436 ,532 ,600 ,457 ,525 28,590 224,138 310,636 506,184 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 11 12 13 14 15 16 17 18 164 -050 , 134 076 10, 536 19,,438 220.,464 159,,383 24 ,899 36,,182 184,,774 126,,907 7,,029 50,,838 188 ,930 108 ,864 17 ,308 62 ,758 162 ,094 105 ,579 17 ,376 39 ,139 -67,,382 -78 ,854 3,,504 7,,968 113 ,532 98 ,394 12 ,646 2 ,492 28,590 38,604 9,703 -19,717 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 19 82 ,172 105 ,596 103 ,709 82 ,159 124 ,350 5 ,151 92 ,209 Change in the value of land holdings 19 20 21 22 -38 ,146 -45 ,491 - 7 ,345 8 ,652 -3 ,872 -12 ,524 177 ,474 152 ,001 -25 ,473 318 ,801 307 ,556 -11 ,245 -21 ,845 -59 ,514 -37 ,669 151 ,889 136,,063 -15 ,826 183 ,904 180 ,926 — 2 ,978 i 76,016 18,164 -57,852 Reval. of corporate equities Change in value -Net purchases 23 24 25 -16 ,185 62 ,375 78 ,560 17 ,354 112 ,376 95 ,022 14 ,423 116 ,257 101 ,834 40 ,225 158 ,728 118 ,503 -27 ,833 90 ,078 117 ,911 41 ,403 189 ,449 148 ,046 61 ,682 220 ,855 159 ,173 -12,555 145,102 157,657 Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 27 28 176 ,021 155 ,795 -20 ,226 278 ,334 246 ,407 -31 ,927 327 ,226 262 ,005 - 65 ,221 329 ,545 252 ,688 -76 ,857 272 ,329 223 ,969 -48 ,360 62 ,980 -28 ,403 -91 ,383 148 ,480 68 ,846 -79 ,634 57,223 -29,295 -86,518 Reval. of noncorp. equity Change in value -Net inv. in noncorp. bus. 29 -1 ,466 7 ,474 496 2 ,556 - 5 ,021 5 ,810 26 ,335 30 555 ,864 835 ,088 1009 ,676 1164 ,094 749 ,611 456 ,739 946 ,556 31 32 5927 ,291 1379 ,341 6762 ,379 1551 ,229 7772 ,055 1729 ,321 8936 ,149 1917 ,973 9685 ,760 2127 ,584 10142 ,499 2261 ,425 11089 ,055 2428 ,100 Data are in millions of dollars. 7 Other revaluations 29 Change in net worth 30 Memo: 11669,891 Net worth outstanding 2668,600 Disposable personal income 31 32 October 1990 Households Households 66 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1985 1986 1987 1988 1989 Households , Personal Trusts, and Nonprofit Organizations 1 Gross investment of household sector, from Flow of Funds Accounts 675 ,607 766 ,598 735 ,583 854 ,075 850 ,928 1 548 ,885 126 ,722 433 ,355 306 ,633 603 ,777 162 ,821 465 ,655 302 ,834 645 ,659 89 ,924 381 ,269 291 ,345 700 ,791 153 ,284 475 .801 322 ,517 731 ,889 119 ,039 409 ,992 290 ,953 2 3 4 5 6 - Capital consump. allow.,NIPA 332 ,303 361 ,699 390 ,118 412 ,092 432 ,761 6 = Net investment flow, 7 Balance Sheet basis 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 343 ,304 404 ,899 345 ,465 441 ,983 418 ,167 7 8 - Depreciation valuation adj. 9 Depreciation charges 10 -Cap. consump. allow., NIPA 6 ,100 338 ,403 332 ,303 468 362 ,167 361 ,699 965 391 ,083 390 ,118 10 ,527 422 ,619 412 ,092 22 ,450 455 ,191 432 ,761 8 9 10 11 + Reval. of physical assets 12 Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 32 , 159 242 ,641 338 ,403 548 ,885 73 ,622 315 ,232 362 ,167 603 ,777 170 ,016 424 ,592 391 ,083 645 ,659 40 318 422 700 • 810 ,982 ,619 ,791 115 ,308 392 ,006 455 ,191 731 ,889 11 12 13 14 32,,159 27,,798 5,,491 -1,-130 73 ,622 55 ,977 7 ,131 10 ,514 170 ,016 150 • 343 10 ,778 8 895 40,,810 20,,287 7 • 714 12,,809 115,.308 95 ,932 15,,712 3,,664 15 16 17 18 15 16 17 18 19 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Consumer durables + Change in the value of land holdings 20 + Reval. of corporate equities 21 Change in value 22 -Net purchases 23 24 25 + Reval. of life insurance 8 pension fund reserves Change in value -Net acquisitions 26 + Reval. of noncorp. equity 27 Change in value 28 -Net inv. in noncorp. bus. 29 + Other revaluations 30 = Change in net worth Memo: 31 Net worth outstanding 32 Disposable personal income Data are in millions of dollars. 50,,237 122,, 150 119,,912 71 • , 096 105,,877 19 485, 893 448,.198 -37,,695 299,• 094 314, 107 15,013 -70,,202 -104, 271 -34 ,069 253, 214 135,• 073 -118,• 141 454 810 379,,857 -74, 953 20 21 22 93, 854 280- 574 186, 720 77,• 777 247,• 456 169 • 679 32,•258 196,• 131 163, 99,,546 305, 837 206, 291 233,,257 401 ,256 167, 999 23 24 25 62, 619 -26 ,543 -89, 162 99,• 527 52, 572 —4 6 i955 207-• 643 116, 590 ,053 -91 , 154,• 250 77, 799 -76, 451 226, 264 137, 738 -88, 526 26 27 28 -5, 311 -6 =725 36, 396 28, 286 13, 054 29 1056, 655 1069, 876 840, 523 1078, 658 1544, 307 30 12726, 546 2838, 700 13796- 422 3013, 325 14636, 945 3194, 750 15715, 603 3479, 224 17259, 910 3725, 550 31 32 October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 67 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Farm Business Gross investment of farm business sector, from Flow of Funds Accounts 1,277 1,550 1,858 2,092 2,338 2.670 2,894 2,220 -943 1,857 2,800 1,611 — 61 1,184 1,245 6,042 -4,184 90 4,274 3,662 — 1,570 -424 1,146 5,309 -2,971 33 3,004 5,778 -3,108 259 3,367 3,571 -677 -13 664 2,380 547 3,277 560 1,663 1,644 -271 • Proprietors' net investment 6 1,817 2,069 2.671 2,925 - Capital consump.allow., NIPA 7 1,212 1,500 2,305 -302 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities = Net investment flow, Balance Sheet basis 1 2 3 4 5 8 54 1,266 65 1,565 1,500 74 1,891 1,817 81 2,150 2,069 87 2,392 2,305 98 2,769 2,671 105 - Depreciation valuation adj. 9 3,030 Depreciation charges 10 2,925 -Cap. consump. allow., NIPA 11 12 13 14 15 8,271 9,225 1,266 2,220 6,301 6,347 1,565 1,611 -2,192 1,959 1,891 6,042 -1,651 -139 2,150 3,662 6,514 9,431 2,392 5,309 2,795 5,804 2,769 5,778 -565 + Reval. of physical assets -24 Change in value 3,030 Depreciation charges 3,571 -Gross purchases, FOF basis 16 8,271 1,567 1,239 5,465 6,301 1,725 1,417 3,159 -2,192 629 645 —3,466 -1,651 187 -64 -1,774 6,514 780 756 4,978 2,795 614 911 1,270 9 10 11 17 18 19 1,212 -565 29 1,929 -2,523 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 12 13 14 15 16 17 18 19 20 + Change in the value of land holdings 20 21 • Other revaluations 21 22 = Change in net worth 22 Memo: 131,294 Net worth outstanding Nonfarm Noncorporate Business 1 3,127 3,899 4,454 4,716 4,999 5,695 6,009 2 3 4 5 4,044 -917 1,309 2,226 4,997 -1,098 1,101 2,199 6,729 -2,275 358 2,633 4,546 170 764 594 8,358 -3,359 1,773 5,132 6,080 -385 398 783 6,460 -451 1,093 1,544 Gross investment of nonfarm incorporate business sector, from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 6 -311 299 1,212 -47 2,166 -359 -258 + Proprietors' net investment 6 7 3,127 3,899 4,454 4,716 4,999 5,695 6,009 - Capital consump.allow., NIPA 7 = Net investment flow, -258 Balance Sheet basis 8 -311 299 1,212 -47 2,166 -359 9 10 11 -181 2,946 3,127 -219 3,680 3,899 -241 4,213 4,454 -252 4,464 4,716 -262 4,737 4,999 -289 5,406 5,695 -301 - Depreciation valuation adj. 9 5,708 Depreciation charges 10 6,009 -Cap. consump. allow., NIPA 11 12 13 14 15 11,514 12,612 2,946 4,044 12,288 13,605 3,680 4,997 5,455 7,971 4,213 6,729 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 + Reval. of physical assets 1,862 Change in value 5,708 Depreciation charges 6,460 -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 11,514 7,137 2,784 1,593 12,288 7,935 2,938 1,415 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 16 17 18 19 20 2,937 3,288 2,436 2,007 2,847 2,858 2,341 21 -865 1 -82 22 13,456 16,095 9,262 3,628 11,655 9,595 3,495 = Change in net worth 22 23 126,925 143,020 152,282 155,910 167,565 177,160 Memo; 180,655 Net worth outstanding 23 Data are in millions of dollars. - - Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories • Change in the value of land holdings 1 + Other revaluations 8 20 21 October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 68 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1959 1960 Farm Business Gross investment of farm business sector, from Flow of Funds Accounts 3,,031 3 ,179 3 ,267 3 ,442 3 ,548 3,627 3 ,695 3 ,705 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 1,,445 1,,586 -23 -1.,609 2 ,442 737 -27 -764 2 ,351 916 108 -808 3 ,304 138 -121 -259 2 ,508 1,,040 -33 -1,,073 4,126 -499 366 865 3,,713 -18 -602 -584 3 ,548 157 -336 -493 6 + Proprietors' net investment -1.,292 -1,,637 - 2 ,431 -1 ,183 -2 ,365 i -939 -2,,939 -1 ,683 3,,082 3 ,192 3 ,300 3 ,485 3 ,599 3,659 3,,732 3 ,740 -1,,343 -1 ,650 ! -2 ,464 -1 ,226 -2:,416 -971 -2 ,976 ! -1,,718 147 3 ,746 3 ,599 157 3,816 3,659 168 3,,900 3,,732 176 3 ,916 3 ,740 1,,524 1 , 156 3,,916 3 ,548 • 1 2 3 4 5 7 - Capital consump.allow., NIPA = Net investment flow, 8 Balance Sheet basis 9 - Depreciation valuation adj. Depreciation charges 10 -Cap. consump. allow., NIPA 11 112 3,,194 3,,082 118 3 ,310 • 31,192 125 3 ,425 3 ,300 : 139 3 ,624 3 ,485 12 + Reval. of physical assets 13 Change in value Depreciation charges 14 -Gross purchases, FOF basis 15 1,,087 -662 3,,194 1, 445 564 -304 3 ,310 2:,442 1,,211 137 3,,425 2 ,351 1,,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 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 1,,087 197 1, 968 -684 564 24 1,,831 ,291 -1, 1,,211 219 ,507 2! ,515 -1 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, 386 3,,225 4 ,562 6,,926 6,,473 8,955 6,,546 1,,311 16 17 18 19 20 + Change in the value of land holdings 21 + Other revaluations - - - - - - " " 22 = Change in net worth -1, 754 2 ,021 3 ,184 7:,093 6,,768 9,240 3,,654 941 Memo: 23 Net worth outstanding 129,,540 131 ,561 134 ,745 i 141,,838 148,,606 157,846 161, 500 162,,441 Nonfarm Noncorporate Business 1 Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 + Proprietors' net investment 7 - Capital consump.allow., NIPA Net investment flow, Balance Sheet basis 8 9 10 11 12 13 14 15 + 16 17 18 19 21 6,462 6,778 7,355 7,784 7,986 8,226 7,812 -1,550 667 2,017 9,526 -2,748 283 3,031 7,183 172 1,779 1,607 9,549 -1,765 349 2,114 8,729 -743 2,410 3,153 10,890 -2,664 -1 ,568 1,096 10,086 -1,617 -57 1,560 949 588 13 458 1 ,238 : 1,,014 -538 -1,155 6 6 ,255 6,,462 6 ,778 7,,355 7 ,784 7,,986 8,226 8,469 7 -1,155 8 949 588 13 458 1,,238 1,,014 -538 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -311 5 ,944 6,,255 -320 6, 142 6, 462 -331 6 ,447 6 ,778 -352 7, 003 7, 355 -369 7 ,415 7 ,784 -380 7, 606 7, 986 -396 7,830 8,226 Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 185 2,,083 5,,944 7,,842 788 2, 458 6, 142 7,812 4 ,253 7 ,332 6,,447 9 ,526 6, 419 6, 599 7, 003 7, 183 1-,459 3,,593 7 ,415 9,,549 1, 740 2,863 7, 606 8, 729 1,056 4,116 7,830 10,890 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 185 1,,702 -1,,757 240 788 2, 135 -1, 447 100 4,,253 3 ,665 ! 268 320 6, 419 3, 216 2, 659 544 1,,459 1 ,835 , -637 261 1, 740 1, 699 365 406 1,056 1,906 -295 -555 649 1 ,890 -803 -438 2,,467 3, 010 3,,345 4, 616 3,,831 3, 505 3,590 4,895 20 -2 1 -1 -2 1 3 + Change in the value of land holdings + Other revaluations 20 6,255 7,842 -1,587 662 2,249 - -413 9 8 r 056 10 8,469 11 649 2,679 8,056 10,086 - 12 13 14 15 16 17 18 19 21 22 = Change in net worth Memo: 23 Net worth outstanding Data are In millions of dollars. 196,037 229,810 23 October 1990 Farm & Noncorporate Business Farm 8 Noncorporate Business 69 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Farm Business 3,705 3.761 3,690 3,883 4,092 4,370 4,593 4,895 3,711 85 91 4,168 -407 134 541 4,637 -947 -40 907 3,985 -102 392 494 6,458 -2,366 280 2,646 5,897 -1,527 207 1,734 7,046 -2,453 363 2,816 6,351 -1,456 579 2,035 -1,608 -1,763 -2,505 -2,295 -1,201 -1,866 -287 3,734 3.762 3,807 3,893 4,046 4,288 4,552 -6 Gross investment of farm business sector, from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 242 + Proprietors' net investment 6 4,852 - Capital consump.allow., NIPA = Net investment flow, 285 Balance Sheet basis 7 8 9 10 11 183 3,917 3,734 192 3,954 3,762 203 4,010 3,807 212 4,105 3,893 227 4,273 4,046 245 4,533 4,288 265 4,817 4,552 288 - Depreciation valuation adj. 9 5,140 Depreciation charges 10 4,852 -Cap. consump. allow., NIPA II 12 13 14 15 1,027 821 3,917 3,711 1,884 2,098 3,954 4,168 710 1,337 4,010 4,637 475 355 4,105 3,985 3,571 5,756 4,273 6,458 1,660 3,024 4,533 5,897 1,272 3,501 4,817 7,046 4,780 + Reval. of physical assets 5,991 Change in value 5,140 Depreciation charges 6,351 -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 1,027 -176 1,039 164 1,884 -142 1,246 780 710 -348 1,187 -129 475 256 602 -383 3,571 58 1,055 2,458 1,660 775 1,402 -517 1,272 440 989 -157 4,780 1,526 2,179 1,075 16 17 18 19 20 6,139 21 22 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 20 + Other revaluations 21 10,916 = Change in net worth 22 Memo: 226,190 Net worth outstanding Nonfarm Noncorporate Business 8,635 8,864 9,155 9,569 11,667 -3,032 544 3,576 13,274 -4,410 -130 4,280 15,332 -6,177 -46 6,131 15,926 -6,357 625 6,982 1,659 1 ,821 3,615 1 ,489 8,635 8,864 9,155 9,569 10,101 10,850 11 ,614 17,351 -7,250 367 7,617 16,254 —5,4 04 869 6,273 17,243 -5,629 918 6,547 1,460 1,461 -793 10,101 10,850 11,614 Gross investment of nonfarm noncorporate business sector, !,583 from Flow of Funds Accounts 18,622 -6,039 -705 5,334 10 11 -430 8 ,205 8,635 -448 8,416 8,864 -475 8,680 9,155 -499 9,070 9,569 12 13 14 15 -461 3,001 8,205 11,667 1,091 5,949 8,416 13,274 -1 ,853 4,799 8,680 15,332 3,310 10,166 9,070 15,926 16 17 18 19 -461 1,492 -359 -1,594 1,091 1,005 206 -1 ,853 -954 252 -1,151 20 3,514 21 22 -537 9,564 6 12,583 - Capital consump.allow., NIPA 7 = Net investment flow, Balance Sheet basis 8 10,101 -583 10,267 10,850 -629 10,985 11,614 -684 - Depreciation valuation adj. 9 11,899 Depreciation charges 10 12,583 -Cap. consump. allow., NIPA 11 3,294 11,081 9,564 17,351 9,806 15,793 10,267 16,254 5,098 11,356 10,985 17,243 17,149 + Reval. of physical assets 23,872 Change in value 11,899 Depreciation charges 18,622 -Gross purchases, FOF basis 12 13 14 15 3,310 3,007 993 -690 3,294 1,638 1,682 -26 9,806 6,729 2,961 116 5,098 3,741 2,234 -877 17,149 12,398 4,604 147 16 17 18 19 3,507 4,218 3,968 8,443 2,252 4,858 -1 2 1 -1 -9 8 6,873 5,746 9,517 9,258 20,284 7,194 -120 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 20 • Other revaluations 21 19,482 = Change in net worth Memo: 313,455 Net worth outstanding Data are in millions of dollars. 2 3 4 5 -3,209 + Proprietors' net investment -3,209 9 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 22 October 1990 Farm 8 Noncorporate Business Farm & Noncorporate Business 70 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1975 1976 Farm Business 1 Gross investment of farm business sector, from Flow of Funds Accounts 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 5 ,312 6 ,780 -1,,468 536 2,• 004 6 • Proprietors' net investment 7 - Capital consump.allow., NIPA\ 5,,639 7,,387 -1,,748 604 2,,352 5,,957 9, 141 -3,, 184 691 3,875 6 ,777 7,827 8 ,530 10 ,336 11,215 1 9 ,276 - 2 ,499 936 : 3 ,435 14,082 -6,255 843 7,098 11 ,211 - 2 ,681 594 3 ,275 16 ,904 -6 ,568 997 7 ,565 13,570 -2,355 1,426 3.781 2 3 4 5 -653 107 -978 -2,,365 -1,837 -4 ,871 -1 ,700 • -7,028 6 5 ,251 , 5,,631 5, 942 6 ,605 7,228 8 ,308 9 ,789 ! 10,771 7 8 = Net investment flow, 8 Balance Sheet basis -592 115 •963 - 2 ,193 ! -1,238 - 4 ,649 -1 ,153 , — 6,584 9 - Depreciation valuation adj 10 Depreciation charges 11 -Cap. consump. allow., NIPAi 320 5, ,571 5 ,251 • 349 5, 980 5, 631 373 6, 315 5, 942 421 7,,026 6,,605 467 7,695 7,228 549 8 ,857 8 ,308 672 10,,461 9 ,789 768 9 11,539 10 10,771 11 12 + Reval. of physical assets 13 Change in value 14 Depreciation charges 15 -Gross purchases, FOF basis; 6,,579 7,,788 5! ,571 6,i 780 2, 123 3, 530 5, 980 7, 387 7, 404 10, 230 6, 315 9, 141 13,,693 15,,943 7,,026 9,,276 24,697 31,084 7,695 14,082 14 ,828 17 , 182 8 ,857 11 ,211 5,,662 12,,105 10,,461 16 ,904 , 7,692 9,723 11,539 13,570 12 13 14 15 16 17 18 19 6,,579 1,, 353 2,, 625 2,,601 2, 123 744 2, 085 •706 7, 404 1, 666 2, 836 2, 902 13, 693 , 1 ,698 3,,957 8,,038 24,697 2,791 4,113 17,793 14 ,828 3 ,496 12 ,820 -1 ,488 , 5,,662 2,,021 5,, 141 -1 ,500 , 7,692 3,210 7,035 -2,553 16 17 18 19 2,,672 4, 584 11, 904 23,,859 54,433 29 ,805 46,,326 71,001 20 358 728 8 215 14 -11 -37 21 20 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 21 + Other revaluations - 22 = Change in net worth 8.,339 6, 115 18, 700 34,,946 77,640 39,,449 50,,152 71,304 22 23 Net worth outstanding 234,,529 240, 644 259, 344 294, 290 371,930 411 ,379 , 461,,531 532,835 23 Nonfarm Noncorporate Business Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts 13 14 ,971 16 ,426 17 ,989 19 ,965 22 ,677 26 ,107 28,.514 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 22 ,901 -9,,070 1,,523 10,,593 23 ,695 - 8 ,724 1 ,319 10 ,043 30 •169 -13 ,743 7 ,169 20 ,912 39 ,139 -21 ,150 6 ,484 27 ,634 42 ,492 -22 ,527 6 ,287 28 ,814 32 ,931 -10,,254 4 ,799 15,,053 25 ,609 4 98 1 ,883 , 1 ,385 , 27, 350 i, 164 8, 812 7, 648 2 3 4 5 -18 ,036 -18- 546 6 26,,107 28, 514 7 -18,,036 -18, 546 8 6 • Proprietors' net investment -5,,402 - 4 ,515 -1 ,222 - 6 ,297 12 ,112 -26,, 145 7 " Capital consump.allow., NIPA 00 2 3 4 5 CO 1 13, 14 ,971 16 ,426 17 ,989 19 ,965 22 ,677 = Net investment flow, Balance Sheet basis -5,,402 -4 ,515 -1,> 222 - 6 ,297 12 ,112 -26,, 145 9 10 11 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -765 13,,066 13,,831 -817 14,, 154 14 ,971 -880 15,,546 16,,426 -967 17 ,022 17,,989 -1 ,087 18 ,878 19 ,965 -918 21,759 22,,677 -1 ,093 , 25,,014 26,,107 -1 ,243 9 27, 271 10 2P, 514 11 12 13 14 15 + Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 15,,473 25,,308 13,,066 22,,901 11 ,310 20 ,851 14 , 154 23 ,695 19,,682 34 ,305 15,,546 30,,169 17 ,880 39,,997 17,,022 39,,139 30 ,604 54 ,218 18 ,878 42 ,492 53,, 028 64,,200 21,,759 32,,931 29,,771 30,,366 25, 014 25,,609 46, 907 46, 986 27, 271 27, 350 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 15,,473 10,,749 4,,927 -203 11,,310 5 ,207 5,,665 438 19,,682 11,,018 6,,852 1,,812 17,,880 11,,512 5,,525 843 30 ,604 20 ,633 9 ,101 870 53,, 028 27,,683 24,,479 866 29, 771 21,,928 10, 787 -2,,944 4 6,907 34, 328 12, 000 579 16 17 18 19 5,,626 4,,058 6,,912 18,,766 25 ,841 26,,233 23,,638 33, 957 20 -7 1 ,883 , -607 -12 - 7 ,850 1 -36 -8 21 16,,455 13,,553 25,,645 31,,304 61 ,794 54,,035 36,.430 63, 553 22 8 16 17 18 19 + 20 21 • Change in the value of land holdings Other revaluations 22 = Change in net worth 23 Net worth outstanding Data are in millions of dollars. October 1990 Farm 8 Noncorporate Business Farm 8 Noncorporate Business 71 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1977 1978 1979 1980 1981 1982 1983 1984 Farm Business Gross investment of farm business sector, from Flow of Funds Accounts 1 1 12, 390 14, 459 16, 258 18, 058 19, 586 20, 952 22, 978 23, 168 2 3 4 5 19, 088 -6, 698 1 •814 8, 512 20, 870 -6, 411 2, 067 8, 478 26, 235 -9,,977 2, 072 12,,049 14, 138 3, 920 1, 973 -1, 947 24, 116 —4, 530 1 ,854 6, 384 13, 805 7,,147 1 ,806 , -5,,341 4, 146 18, 832 1, 267 -17,,565 20, 102 3, 066 239 -2, 827 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 6 -6 !129 -9, 393 -12,,621 -18, 728 -10, 797 -12,,400 -20, 734 -1, 308 + Proprietors' net investment 6 17,,591 19, 363 20,,455 22,,400 22,,500 - Capital consump.allow., NIPA 7 7 12, 099 13, 557 15,,343 = Net investment flow. -640 Balance Sheet basis 8 -5, 838 - 8 !491 -11,,706 -18,,261 -10, 574 -11 ,903 -20,,156 9 10 11 891 12,• 990 12, 099 1 ,027 , 14, 584 13, 557 1 ,193 16 ,536 15 ,343 1, 399 18,,990 17,,591 1,,570 20,,933 19 ,363 1,,680 22 ,135 20 ,455 106 22, 506 22,,400 9 100 - Depreciation valuation adj. Depreciation charges 10 ,600 -Cap. consump. allow., NIPA 11 22,,500 12 13 14 15 10,,969 17, 067 12,,990 19,,088 33,-290 39,,576 14,,584 20,,870 18 ,034 27 ,733 16 ,536 26 ,235 31,,021 26 ,169 18 ,990 14 ,138 11 ,553 14 ,736 20 ,933 24 ,116 5 ,441 - 2 ,889 22 ,135 13 ,805 22,,820 4 ,460 22,,506 4 ,146 4,,548 + Reval. of physical assets Change in value 2,,050 Depreciation charges ,600 -Gross purchases, FOF basis 20,,102 12 13 14 15 16 17 18 19 10 ,969 4 ,600 8 ,350 -1 ,981 33 • 290 5 ,546 15 ,474 12 ,270 18 ,034 5 ,363 10 ,716 1 ,955 31 ,021 4 ,846 16 ,447 9 ,728 11 ,553 4 ,549 15 ,702 - 8 ,698 5 ,441 -540 6 ,837 -856 22 ,820 3 , 156 12 ,072 7 ,592 4 ,548 2 ,206 7 ,997 - 5 ,655 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 20 45 ,536 80 ,816 101 ,687 68 ,589 - 1 0 ,358 -39 ,077 8 21 - -21 - - 3 ,193 -99 ,009 • Change in the value of land holdings 62 + Other revaluations 20 21 - 4 ,071 1 5 ,751 -95 ,139 = Change in net worth 22 Memo: 722 ,324 Net worth outstanding 23 - 22 49 ,776 104 ,588 106 ,801 79 ,950 -15 ,020 - 4 7 ,218 23 582 ,611 687 ,199 794 ,000 873 ,950 858 ,930 811 ,712 817 ,463 Nonfarm Noncorporate Business 1 31, 945 36, 564 42, 935 49, 850 57, 359 63, 767 64, 181 2 3 4 5 39, 282 -7, 337 16, 363 23, 700 47 366 -10, 802 20,,669 31, 471 44, 312 -1, 377 21, 659 23, 036 46, 594 3, 256 8, 888 5 ,632 71, 518 -14, 159 4, 398 18, 557 65, 212 -1, 445 5, 589 7, 034 68, 454 -4, 273 32- 786 37, 059 6 -13,865 -22,,796 -53, 321 -58 845 -38, 064 -80, 311 -59, 774 36,,564 42, 935 49 ,850 57, 359 63, 767 64,,181 7 31, 945 Gross investment of nonfarm noncorporate business sector, 67, 383 from Flow of Funds Accounts 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 -86,,850 + Proprietors' net investment 6 81, 674 -14, 291 47, 977 62, 268 67,,383 - Capital consump.allow.» NIPA 7 Net investment flow, Balance Sheet basis 8 8 -13, 865 -22,,796 -53,,321 -58 ,845 -38,,064 -80, 311 -59,,774 -86,,850 9 10 11 -1, 440 30 ,505 31 ,945 -1 ,673 34 ,891 36 ,564 -1,,967 40,,968 42,,935 - 2 ,308 47 ,542 49 ,850 -2,,603 54,,756 57 ,359 -2, 782 60 985 63,,767 -1,,259 62,,922 64 ,181 -1 321 66 ,062 67 ,383 - 9 Depreciation valuation adj. 10 Depreciation charges -Cap. consump. allow., NIPA 11 12 13 14 15 65 ,559 74 ,336 30 ,505 39 ,282 96 ,813 109 ,288 34 ,891 47 ,366 122,,083 125 ,427 40 ,968 44 ,312 132 ,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 • Reval. of physical assets Change in value Depreciation charges -Gross purchases, FOF basis 12 13 14 15 16 17 18 19 65 ,559 50 ,760 16 ,205 -1 ,406 96 ,813 66 ,515 30 ,478 -180 122 ,083 98 ,859 19 ,191 4 ,033 132 ,033 98 ,270 31 ,524 2 ,239 120 ,074 92 ,224 34 ,925 - 7 , 075 36 ,309 ,788 11 ,972 1 ,549 52 ,292 48 ,284 3 ,361 647 66 ,966 62 ,551 10 ,525 -6 ,110 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 20 57 ,013 73 ,228 91 ,947 102 ,877 113 ,136 55 ,942 69 ,190 75 ,592 Change in the value of land holdings 20 21 311 40 ,000 -1 -2 -4 Other revaluations 21 22 110 ,458 148 ,918 162 ,675 178 ,373 237 ,749 14 ,721 62 ,965 57 ,025 Change in net worth 22 23 726 ,682 875 ,600 1038 ,275 1216 ,648 1454 ,397 1469 ,118 1532 ,083 Memo: 1589 ,108 Net worth outstanding 23 • -1 - Data are in millions of dollars. - = October 1990 Farm 8 Noncorporate Business Farm & Noncorporate Business 72 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1985 1986 1987 1988 1989 Farm Business 1 2 3 4 5 Gross investment of farm business sector, from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 + Proprietors' net investment 7 - Capital consump.allow., NIPA = Net investment flow? 8 Balance Sheet basis 22,,857 7,,361 15 ,496 2 ,668 -12 828 21,,839 21,,429 7 ,658 14 . 181 3,,233 -10:,948 7,,223 14 • : 206 2,.383 -11,,823 21 ,908 4,,059 17, 849 3,.119 -14, 730 22,,521 1 9 332 13 . 189 2,.756 -10,• 433 2 3 4 5 1,,937 5,,127 -1,,804 -8, 198 -13,,438 6 22 ,000 21 ,200 20, 500 20, 536 20,,674 7 2,,794 5 ,766 -875 -6,,826 -11,,591 8 446 21 ,646 21 ,200 588 21 ,088 20 ,500 -108 20,,428 20, 536 -23 20,,651 20 ,674 9 10 11 9 - Depreciation valuation adj. Depreciation charges 10 -Cap. consump. allow., NIPA 11 149 22 ,149 22 • 000 12 + Reval. of physical assets Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 15 -1 .546 -16 ,334 22 , 149 7 ,361 3 ,632 -10 ,356 21 , 646 7 ,658 12 ,900 -965 21 ,088 7 ,223 16, 214 -155 20, 428 4, 059 23 . 158 11 ,839 20 .651 9 ,332 12 13 14 15 -1 ,546 ,404 3 ,107 -6 ,057 3 ,632 1 ,533 5 ,525 -3:,426 12 .900 3',713 5 ,994 3,,193 16, 214 1 ,282 5,.480 9,,452 23,,158 3,,006 18 • 688 1 ,464 16 17 18 19 -77 ,898 -25 ,033 6 ,521 39,,877 20 ,573 20 570 515 400 -13 21 16 17 18 19 20 Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories + Change in the value of land holdings 21 + Other revaluations - 22 = Change in net worth -76 ,799 -25 ,511 18 ,473 49 ,773 32 ,150 22 Memo: 23 Net worth outstanding 645 ,525 620 ,014 638 ,487 688 ,260 720 ,410 23 Nonfarm Noncorporate Business Gross investment of nonfarm noncorporate business sector, from Flow of Funds Accounts 73,,411 79, 988 84, 696 96, 702 1 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 84,,241 -13, 739 38, 759 52,,498 88,,074 -14, 663 38 551 53 • 214 71,,964 8,,024 13, 061 5,,037 70,,859 13, 837 . 18 .422 4 585 63, 778 32, 924 19,.087 -13,,837 2 3 4 5 6 + Proprietors' net investment -93,,119 -55 004 -86,,010 -73,,361 -75 ,994 6 70 ,502 73 ,411 79 .988 84 ,696 96 ,702 7 1 2 3 4 5 7 - C a p i t a l consump.allow., NIPA = Net investment flow. Balance Sheet basis 8 70, 502 -93,,119 -55 ,004 -86,,010 -73 ,361 - 7 5 ,994 8 9 - Depreciation valuation adj. Depreciation charges 10 -Cap. consump. allow., NIPA 11 -1 ,389 69,,113 70 ,502 -1 ,367 72 ,044 73,,411 -4 ,191 75 ,797 79 ,988 -5,,538 79,,158 84 696 - 1 2 ,803 83 899 96 ,702 9 10 11 12 • Reval. of physical assets Change in value 13 Depreciation charges 14 -Gross purchases, FOF basis 15 57 ,502 72 ,630 69 ,113 84 ,241 33 ,641 49 ,671 72 ,044 88 ,074 110 ,729 106 ,896 75 ,797 71 ,964 55 47 79 70 113 93 83 63 ,642 ,521 ,899 ,778 12 13 14 15 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories 57 ,502 51 ,117 12 ,250 -5 ,865 33 ,641 30 645 9 ,137 -6 , 141 110 ,729 88 ,384 19,,874 ,471 55 ,719 44 ,570 15 ,558 - 4 ,409 113 ,642 102 ,319 16 297 - 4 ,974 16 17 18 19 78 ,209 94 ,618 75 ,177 44 ,604 58 ,489 20 1 -1 -1 - 4 ,003 1 21 22 = Change in net worth 43 ,982 74 ,621 104 ,086 28 ,497 108 ,941 22 Memo: 23 Net worth outstanding 1633 ,090 1707 ,711 1811 ,797 1840 ,294 1949,,235 23 16 17 18 19 20 • Change in the value of land holdings 21 • Other revaluations Data are in millions of dollars. ,719 .420 , 158 ,859 October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 73 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1949 1950 Nonfinancial Corporate Business* Excluding Farms Gross investment of nonfinancial 1 6 ,769 12 .309 15 .781 17 ,978 16 ,334 21 ,754 22 .380 2 3 4 5 18 ,765 -11 ,996 -1 ,356 10 ,640 18 ,069 - 5 ,760 8 ,357 14 ,117 20 ,693 - 4 ,912 4 ,965 9 ,877 14 ,911 3 ,067 3 ,516 449 24 ,007 - 7 ,673 16 ,353 24 ,026 30 ,526 - 8 ,772 7 ,387 16 ,159 25 ,567 - 3 ,187 4 ,576 7 .763 6 7 1 ,018 1 ,093 1 ,000 1 ,212 1 ,288 2 ,107 8 9 7 ,344 - 5 ,263 8 ,968 - 5 ,899 10 ,418 - 2 ,152 11 ,199 1 ,856 12 ,018 - 4 ,965 13 ,830 -1 ,199 10 5 ,706 10 ,333 8 ,515 6 ,135 10 ,569 11 ,230 11 12 13 -2 7 ,342 7 ,344 8 ,968 8 ,968 10 ,418 10 ,418 11 ,199 11 ,199 -1 12 ,017 12 ,018 13 ,830 13 ,830 1 - Depreciation valuation adj. 14 ,839 Depreciation charges 14 ,838 -Cap. consump. allow., NIPA 14 15 16 17 13 ,907 30 ,593 7 ,342 24 ,028 14 ,825 29 ,825 8 ,968 23 ,968 7 ,723 20 ,150 10 ,418 22 ,845 1 ,887 3 ,743 11 ,199 13 ,055 9 ,525 26 ,480 12 ,017 28 ,972 9 ,000 26 ,895 13 ,830 31 ,725 3 ,308 + Reval. of physical assets 13 ,036 Change in value 14 ,839 Depreciation charges 24 ,567 -Gross purchases (1) 18 19 20 21 13 ,907 13 ,539 368 14 ,825 151 13 .746 928 7 ,723 -124 6 ,710 1 ,137 1 ,887 10 2 ,732 -855 9 ,525 -828 9 ,309 1 ,044 9 ,000 116 9 , 154 -270 3 ,308 -361 3 ,790 -121 22 2 ,236 3,• 193 2 ,454 1 • 943 2 .933 3 ,386 2 ,999 23 24 25 -230 390 1,. 139 749 538 1 ,259 721 415 1 ,075 660 •,088 621 467 683 1,,191 508 890 + Reval. of fgn. dir. invest. 1 ,742 Change in value 852 -Direct investment (2) 150 184 34 98 154 56 370 450 80 177 267 90 155 - Reval. of dir. inv. in U.S. 287 Change in value 132 -Direct investment (2) 26 27 28 29 230 90 100 10 -4 -4 63 from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 ,320 + Corporate equity issues - Min. rights from U.S. govt. 14 ,838 - Capital consump.allow., NIPA 1 .000 - Inventory valuation adj. 8 .862 = Net investment flow, Balance Sheet basis Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories (1) + Change in the value of land holdings -1 81 30 21,, 684 28,,650 19,,161 10,,282 23,,125 24,,122 15,,901 = Change in net worth 31 154,> 586 183, 236 202,,397 212,,679 235,,804 259,,926 Memo: 275,,827 Net worth outstanding - - - - 2 + Other revaluations Tanglbl es and net worth on historical cost basis: 32 5, 706 10, 333 8, 515 6, 135 10, 569 11, 230 33 34 35 36 -1, 043 17, 677 5, 308 24, 028 -1, 187 17. 012 5, 769 23, 968 997 15,.300 6, 548 22, 845 •404 5, 316 7, 335 13, 055 -1. 370 19, 486 8, 116 28, 972 -658 22,061 9,006 31.725 •934 13, 645 9, 988 24, 567 37 490 302 244 194 294 321 •261 38 39 40 - 2 , 036 5, 308 7, 344 - 3 , 199 5, 769 8 , 968 -3,870 6, 548 10, 418 - 3 ,864 7, 335 11, 199 — 3, 902 8, 116 12, 018 - 4 ,824 9. 006 13,830 41 230 390 538 415 467 683 890 • Reval. of fgn. dir. invest. 42 - 90 150 98 370 177 155 - Reval. of dir. inv. in U.S. 43 63 -1 81 44 7, 022 12, 946 12. 101 10, 106 13, 492 16, 223 13,250 = Change in net worth 45 102, 592 115, 538 127, 639 137, 745 151, 237 167, 460 Memo: 180, 710 Net worth outstanding - - - 8,,862 = Net investment flow + Valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross purchases (1) + Change in the value of land holdings -4,850 - Depreciation valuation adj. 9, 988 Depreciation charges 14,838 -Cap. consump. allow., NIPA - 2 + Other revaluations CI) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost Investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 74 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Nonfinancial Corporate Business. Excluding Farms 1 2 3 4 5 Gross investment of nonfinancial corporate business sector. from Flow of Funds Accounts Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 • Corporate equity issues 7 - Min. rights from U.S. govt. 8 - Capital consump.allow., NIPA 9 - Inventory valuation adj. 10 = Net investment flow, Balance Sheet basis 22 ,095 22 ,708 25 ,497 25 ,940 28 ,353 27,,028 31,,905 29, 184 1 26 ,028 -3 ,933 2 • 298 6 ,231 23,,245 -537 4,,864 5,,401 32,,417 -6 ,920 16,,521 23,,441 37 ,068 -11,,128 3,,962 15,,090 35 ,683 -7 ,330 4 .219 11 ,549 27,,798 -770 10 =792 11,,562 37,,931 -6,,026 14,,168 20,,194 37, 619 -8,435 3, 922 12, 357 2 3 4 5 1,,766 1,,583 1,,719 2,,250 2,,441 1,,968 2, 078 1, 365 6 7 8 9 - 151,851 -1,,000 - - - 16, 763 •300 17,,782 -1, 750 20,• 027 -2,,675 22,,043 -1,,525 23, 052 -250 24,,128 277 25, 126 173 9,010 11 - Depreciation valuation adj. 12 Depreciation charges 13 -Cap. consump. allow., NIPA 1 15,852 15,851 -1 16.762 16.763 -1 17.781 17.782 -1 20,026 20,027 22,044 22.043 23,052 23,052 24,128 24,128 1 11 25,127 12 25.126 13 14 + Reval. of physical assets 15 Change in value 16 Depreciation charges 17 -Gross purchases (1) 1,845 13,021 15,852 27,028 1,245 8,028 16,762 23,545 10,552 26,938 17,781 34,167 15,808 35,525 20-026 39,743 6,555 21,719 22.044 37,208 6,882 23,052 28,048 1,886 3,873 17,953 24,128 38,208 -1,429 11,236 25.127 37,792 14 15 16 17 1,845 -105 1,873 77 1,245 -554 1,603 196 10,552 -234 9,765 1,021 15,808 232 15,100 476 6,555 63 6,782 -290 1 ,886 -330 1,929 287 3,873 -293 3,678 488 -1,429 239 -1,864 196 18 19 20 21 1,046 2,418 1 ,372 18 19 20 21 22 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories (1) + Change in the value of land holdings 3,987 7,382 7,559 23 + Reval. of fgn. dir. invest. 24 Change in value 25 -Direct investment (2) 797 1,532 735 711 1,378 667 941 1,764 823 1,159 3,110 1,951 447 2,889 2,442 834 2,015 1,181 26 - Reval. of dir. inv. in U.S. 27 Change in value 28 -Direct investment (2) 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 307 405 98 29 + Other revaluations 30 = Change in net worth 251 489 238 -902 23 2,038 24 2,940 25 -9 26 306 27 315 28 -299 100 1 -153 1 29 15,191 27,174 24,741 20,434 8,371 30 Memo: 31 Net worth outstanding 436,957 31 Tangibles and net worth on historical cost basis: 32 = Net investment flow 33 34 35 36 • Valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross purchases (1) 37 + Change in the value of land holdings 38 - Depreciation valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA 9,010 7 -708 15,304 11,016 27,028 -1 10 12 23 387 033 125 545 -1,776 19,209 13,182 34,167 -923 24,405 14,415 39,743 -1,275 20,233 15,700 37,208 -1 ,708 9,487 16,853 28,048 -736 19,547 17,925 38,208 -611 18,054 19,127 37,792 ,638 ,125 ,763 -4,600 13,182 17,782 -5,612 14,415 20,027 —6,343 15,700 22,043 -6,199 16,853 23,052 -6,203 17,925 24,128 -5,999 38 19,127 39 25,126 40 33 34 35 36 552 -4,835 11,016 15,851 41 + Reval. of fgn. dir. invest. 797 711 941 1,159 447 834 1,046 -902 41 42 - Reval. of dir. inv. in U.S. 148 258 246 151 96 307 251 -9 42 -299 100 -1 1 -1 -153 1 43 44 = Change in net worth 14,039 15,458 17,746 16,441 12,725 17,848 11,611 44 45 Net worth outstanding 194,749 43 + Other revaluations CI) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 298,455 45 October 1990 Nonfinanclal Corporate Business Nonfinanclal Corporate Bucjhpss Factors Accounting for Change in Net Worth 75 Annual Flows Annual Flows 1966 1967 Nonfinanclal Corporate Business, Excluding Farms Gross investment of nonfinanclal corporate business sector, from Flow of Funds Accounts 31,875 38,513 38 ,917 42 ,740 36,520' -4,645 14,248 18,893 43,453 -4,940 12,476 17,416 44 ,775 -5 ,858 15 ,694 21 ,552 49 ,746 - 7 ,006 14 ,860 21 ,866 61,444 -11,780 21,808 33 ,588 75,557 -18,964 16,744 35 ,708 71,559 -14,257 16,426 30,683 2,121 76,959 -17,462 30,790 48,252 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 369 -341 1 ,145 -28 1 ,259 2,397 -159 1,330 25,876 271 Corporate equity issues Min. rights from U.S. govt. 26,823 26 27 ,998 54 29 ,445 -494 31 ,459 -1 ,245 34 ,284 -2 ,107 37,563 -1,554 41 ,427 -3,651 12,033 10:,524 14,-934 19 ,422 25 ,675 23,690 -1 27,,997 27, 998 -1 29, 444 29, 445 31 ,459 31 ,459 -1 34 ,283 34 ,284 1 37,564 37,563 -1 41.426 41.427 Depreciation valuation adj. 11 Depreciation charges 12 -Cap. consump. allow., NIPA 13 59,497 1 2 3 4 5 Capital consump.allow., NIPA Inventory valuation adj. Net investment flow, Balance Sheet basis 8 9 10 11 12 13 25-876 25,876 -1 26,822 26,823 14 15 16 17 -419 9,954 25,876 36,249 -232 16,373 26,822 43,427 1 ,584 18, 308 27, 997 44, 721 4, 771 25- 567 29, 444 50, 240 6 ,898 38 ,128 31 ,459 62 ,689 13 ,286 56 ,667 34 ,283 77,,664 13,283 48,832 37,564 73,113 18 19 20 21 25,136 62,990 41 ,426 79,280 -419 -188 -1 ,204 973 Reval. of physical assets Change in value Depreciation charges -Gross purchases (1) 14 15 16 17 -232 -306 575 -501 1,584 279 585 1 ,278 4, 771 182 3, 544 1, 045 6 ,898 -116 6,-931 83 13,-286 868 12,, 183 235 13,283 -520 12,370 1,433 25 ,136 1 ,013 22 ,526 1 ,597 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories (1) 18 19 20 21 3, 251 3, 654 234 1 - 22 5,622 1,916 1 ,973 23 24 25 198 2,852 2,654 -292 2,559 2,851 -23 3 ,460 3 ,483 -15 3,744 3,759 -17 4, 803 4,820 -3, 101 1, 724 4,825 -38 4,322 4,360 26 27 28 171 482 311 53 + Reval. of fgn. dir. invest. 3 ,218 : Change in value 3,-165 -Direct investment (2) -126 220 346 101 332 231 23 24 25 97 419 322 20 434 414 169 257 426 171 869 698 84 - Reval. of dir. inv. in U.S. 892 Change in value 808 -Direct investment (2) 26 27 28 772 + Other revaluations 29 + 29 -102 -7 45 222 27 -45 87 30 12,977 13,545 14 ,003 22,907 29, 561 39, 639 37,084 Change in the value of land holdings 4 6* 111 = Change in net worth 22 30 Memo: 652,784 Net worth outstanding 31 449,934 463,479 477 ,482 32 7,849 12,033 10,-524 33 34 35 36 211 16,105 20,355 36,249 -1,648 20,195 21 ,584 43,427 -277 21 -4 78 22, 966 44, 721 37 2,054 1,858 1,858 38 39 40 -5,521 20,355 25,876 -5,239 21,584 26,823 -5, 032 22, 966 27, 998 -4,946 24,499 29,445 -5,095 26,364 31 ,459 -5,644 28,640 34,284 -6,436 31,127 37,563 529,950 Tangibles and net worth on historical cost basis: -300 25,441 24,499 50,240 -1 ,562 34,763 26,364 62,689 -2,421 46,603 28,640 77,664 23,690 20,232 = Net investment flow — 1,4 35 40,551 31,127 73,113 -1,598 43,994 33,688 79,280 290 + Valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross purchases (1) 33 34 35 36 Change in the value of land holdings 37 -7,739 - Depreciation valuation adj. 38 33,688 Depreciation charges 39 41,427 -Cap. consump. allow., NIPA 40 41 198 -292 -23 -15 -17 -3,101 -38 42 171 53 + Reval. of fgn. dir. invest. 41 -126 101 97 20 -169 171 84 - Reval. of dir. inv. in U.S. 42 43 -102 -7 45 222 27 -45 87 44 15,560 17,309 17, 058 21,678 25,521 28,270 30,744 JU.015 K,.,24 348.382 370.0*0 3,5.581 ,23.85, (54.5,5 772 + Other revaluations 29,404 = Change in net worth «3.,„ E ^ r t h .«t.t.nd,n, (1) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 43 44 October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 76 Factors Accounting for Change in Net North Annual Flows Annual Flows 1972 1973 1974 1975 1976 Nonfinancial Corporate Business, Excluding Farms Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 1 65,594 60 ,597 70 ,364 79 ,386 69 ,926 101 ,666 120 ,272 Capital expenditures Net financial investment Net acq. of finan. assets - N e t incr. in liabilities 84,704 -19,110 31 ,684 50,794 80 ,897 - 2 0 ,300 18 ,728 39 ,028 86 ,426 - 1 6 ,062 36 ,677 52 ,739 96 ,316 - 1 6 ,930 50 ,089 67 ,019 120 ,542 - 5 0 ,616 70 ,709 121 ,325 138 ,920 - 3 7 ,254 52 ,479 89 ,733 109 ,885 10 ,387 41 , 145 30 ,758 6 + Corporate equity issues 7 - Min. rights from U.S. govt. 3,406 44 5 ,694 329 11 ,435 717 10 ,922 912 7 ,883 3 ,168 4 ,097 6 ,490 9 ,908 1 ,323 10,524 3,973 45,351 -5,870 49 ,798 - 6 ,552 54 ,701 - 4 ,584 59 ,952 - 6 ,610 65 ,023 - 2 0 ,022 75 ,995 - 3 9 ,457 91 ,338 - 1 0 ,952 101 ,605 -14,911 = Net investment flow, 10 Balance Sheet basis 22 ,716 30 ,965 36 ,054 29 ,640 62 ,735 48 ,471 11 - Depreciation valuation adj. 12 Depreciation charges 13 - C a p . consump. allow., NIPA 45,351 45,351 -1 49 ,797 49 ,798 54 ,701 54 ,701 -2 59,950 59 ,952 -1 65 ,022 65 ,023 75 ,995 75 ,995 -3 91 ,335 91 ,338 14 • Reval. of physical assets 15 Change in value 16 Depreciation charges 17 - G r o s s purchases (1) 26,689 71 ,868 45,351 90,530 28 , 982 66,,305 49,,797 87,, 120 34 ,573 70,165 54,,701 90,,293 29 ,383 71 ,44 , 7 59 , ,950 102,,014 56 ,797 129 ,171 65:,022 137 ,396 18 19 20 21 26,689 1,308 22,779 2,602 28,,982 431 30, 038 - 1 ,487 34,>573 1 ,053 , 33,.093 427 29,,383 1 ,688 , 25,,874 1,,821 2 3 4 5 8 - Capital consump.allow., NIPA 9 - Inventory valuation adj. 22 Revaluation by type of asset Residential structures Nonres. plant & equipment Inventories (1) + Change in the value of land holdings - 169 265 75 171 155,370 -17,062 53,462 70,524 -1 11 101.604 12 101.605 13 ,347 ,239 ,995 ,887 93 ,294 121 ,473 91 ,335 , 119 ,514 73,168 137,872 101,604 166,308 14 15 16 17 56,,797 2,,423 45,,623 8,,751 169,,347 2,,365 150,,562 1 6, ,420 93 ,294 656 88,,007 4,,631 73,168 357 67,312 5,499 18 19 20 21 2, 632 2, 951 8, 325 12,,343 22, 785 5,,901 23 + Reval. of fgn. dir. invest 24 Change in value 25 -Direct investment (2) 226 5,157 4,931 -203 6, 565 6, 768 338 6, 119 6, 457 629 5, 115 5, 744 82 10, 212 10, 130 -287 8,,649 8, 936 -272 13, 776 14, 048 810 23 12,443 24 11,633 25 26 - Reval. of dir. inv. in U.S 27 Change in value 28 -Direct investment (2) -260 1,003 1,263 -12 1 ,452 1 ,464 276 644 368 6 954 948 2, 8 8 8 5- 688 2, 800 173 4 ,588 4, 761 -85 2,518 2, 603 -1,238 26 3,108 2 7 4,346 28 29 + Other revaluations 30 = Change in net worth -148 -50 1, 928 1 ,571 11 ,548 30, 103 607 4,024 29 60,135 54, 090 69, 803 74, 700 107, 523 284, 856 146, 875 151,155 30 767 ,009 836, 812 911 ,512 1019, 035 1303, 891 1450, 766 1601,901 31 48, 471 Memo: 31 Net worth outstanding Tangibles and net worth on historical cost basis: is: 32 = Net investment flow 33 34 35 36 + Valuation adjustment on physical assets (3) Change in value Depreciation charges - G r o s s purchases (1) 37 + Change in the value of land holdings 38 39 40 41 42 Depreciation valuation adj. Depreciation charges - C a p . consump. allow., NIPA 29,475 22, 716 30, 965 36, 054 29, 640 62, 735 -759 53,044 36,727 90,530 -2 44 39 87 -4,119 43,205 42,969 90,293 275 55 ,4 64 46,825 102,014 -207 86,429 50,760 137,396 6,864 123,071 55,680 171,887 4,,258 -8, 624 36,• 727 45, 351 396 834 890 120 5,863 64,361 61,016 119,514 -1,507 98,002 66,799 166,308 33 34 35 36 1 ,652 1 ,935 2 ,871 4,518 3, 8 8 9 1,,178 1 ,514 , 37 - 9 ,908 39 ,890 49,,798 -11 ,732 42 ,969 54 ,701 -13:,127 46 ,825 59,,952 -14,263 50,760 65,023 - 2 0 , 315 55, 680 75, 995 -30,,322 ,016 61 , 91, 338 - 3 4 806 38 66- 799 39 101 ,605 40 + Reval. of fgn. dir. invest. 226 -203 -338 -629 82 287 272 810 41 - Reval. of dir. inv. in U.S. •260 -12 276 6 2,888 173 -85 - 1 , 238 42 43 + Other revaluations -148 -50 1,,928 1,,571 11,548 30, 103 607 4, 024 43 44 = Change in net worth 41 ,936 31 , ,639 41,,827 53,,263 56,956 123, 792 8 5 , 040 99, 050 44 Memo: 45 Net worth outstanding 525,935 (1) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 1017,502 45 October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business 77 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Nonfinancial Corporate Business, Excluding Farms Gross investment of nonfinancial corporate business sector. from Flow of Funds Accounts 1 148 ,241 195 ,638 242 ,570 221 ,042 246 ,642 244 ,244 260 ,880 319 ,414 2 3 4 5 179 ,271 -31 ,030 62 • 565 93 ,595 217 ,661 -22 ,023 107 ,667 129 ,690 238 ,939 3 ,631 129,,758 126,,127 243 ,677 -22 ,635 98 ,412 121 ,047 286 ,300 -39 ,658 97 ,022 136 ,680 256 -11 46 58 270 ,546 -9 • 666 122 ,080 131 ,746 369 ,678 -50 ,264 105 ,233 155 ,497 10 ,375 4 ,997 -13 ,450 4 ,847 1 ,900 7 ,791 20 ,000 7,,785 -78 ,975 7 ,902 - Corporate equity issues Min. rights from U.S. govt. 198 403 -24 ,189 220 ,973 -10 ,350 227,,745 -10,,900 238 ,053 - 5 ,800 - Capital consump.allow., NIPA Inventory valuation adj. ,110 ,866 ,996 ,862 6 7 2 ,727 2 ,470 -101 1 ,973 -7,,836 4 ,745 8 9 113 ,615 -16 ,637 129 ,499 -25 ,298 149,,257 -43 ,175 170 ,927 -43 , 129 10 51 ,520 89 ,363 123,,907 98,,622 54 ,131 27 ,730 56,,250 284 11 12 13 113 ,615 113 ,615 1 129 ,500 129 ,499 -1 149 .256 149,,257 -1 170,,926 170,,927 1 198 ,404 198,,403 2 220 ,975 220 ,973 20 227,,765 227:,745 -10 238 ,043 238 ,053 14 15 16 17 95 ,994 175 ,817 113 ,615 193 ,438 166 ,051 277,,537 129,,500 240,,986 147,,403 275,,51b 149, 256 277, 369 208 381 319, 264 170,,926 281 ,809 214,,529 321,,767 198 .404 305,,642 76 ,385 114 ,079 220 ,975 258 ,669 33,,200 79 ,096 227 765 273,,661 69 ,881 199 ,414 238 ,043 367 ,576 18 19 20 21 95 ,994 827 87 ,287 7 ,880 166,,051 3,,632 145,,886 16,,533 147!,403 3, 992 118,,948 24 463 208,,381 4,,428 186 ,245 17,,708 214,,529 4,,650 192,,627 17,,252 76 ,385 -1 ,040 81 ,447 - 4 ,022 33,,200 2,,083 27,, 450 3,,667 69 ,881 1 ,823 58 ,817 9 ,241 22 ,601 34,,297 32,,018 50,,703 51,,871 30 ,993 24,,445 38 ,978 23 24 25 - 2 ,709 8 ,799 11 ,508 286 16 .379 16,,093 -346 26, 479 26,,825 6,,671 30,,227 23,,556 3,,774 16 ,359 12,,585 -21 ,674 -11,,479 10,,195 -7,,236 2 ,587 9 ,823 -7,,371 6 ,007 13 ,378 26 27 28 97 3 ,825 3 ,728 24 7 ,876 7 ,852 178 11 ,991 , 11,,813 13, 269 28,,584 15,,315 372 25,,668 25,,296 2 ,153 15 ,963 13 ,810 863 12,,382 11,,519 1 ,954 27 ,522 25 ,568 4 ,990 -20,,829 - 2 ,683 97 ,145 - 29 -724 598 3,,641 -7,,790 4,,538 30 166 ,585 290 ,570 306,,446 343,,319 328 ,470 116 ,269 84,,947 31 1768 ,486 2059 ,056 2365, 502 2708,,821 3037 ,291 3153 ,560 3238,,507 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities + 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 CI) Revaluation by type of asset Residential structures Nonres. plant 8 equipment Inventories CI) + Change in the value of land holdings + Reval. of fgn. dir. invest. Change in value -Direct investment C2) 23 24 25 Reval. of dir. inv. in U.S. Change in value -Direct investment C2) 26 27 28 + Other revaluations 29 = Change in net worth 30 Memo: 3335,,652 Net worth outstanding Tangibles and net worth on historical cost basis: 56,250 33 34 35 36 904 120,339 74,003 193,438 1,145 159,120 83,011 240,986 6,235 189,273 94,331 277,369 6,725 182,129 106,405 281,809 13,793 199,712 119,723 305,642 -10,675 114,148 133,846 258,669 -1,255 125,127 147,279 273,661 284 = Net investment flow 7,559 213,331 161,804 367,576 • Valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross purchases (1) 37 2, 936 4,,222 3,,615 6,,570 7,,854 5 ,442 7,,670 38 39 40 -39, 612 74, 003 113, 615 —46,,488 83,,011 129 ,499 -54,,926 94,,331 149,,257 -64 ,522 106 ,405 170 ,927 -78 ,680 119,,723 198,,403 -87 ,127 133,,846 220,,973 -80 ,466 147 ,279 227 ,745 41 -2,,709 286 -346 6 ,671 3 ,774 -21,,674 - 7 ,236 42 97 24 178 13 ,269 372 2,,153 863 43 -724 598 3,,641 - 7 ,790 4 ,538 4,,990 -20 ,829 -2,,683 • Other revaluations 44 91, 442 142 ,078 191 ,800 162 ,051 162 ,398 90,,787 114,,203 80,,588 = Change in net worth 1251 ,022 1442 ,822 1604 ,873 1767 ,271 1858 ,058 1972 ,261 Memo: 2052,,849 Net worth outstanding 45 1108,, 944 8,,504 land holdings -76,,249 - Depreciation valuation adj. 161,,804 Depreciation charges 238 ,053 -Cap. consump. allow., NIPA - 7 ,371 • Reval. of fgn. dir. invest. 1,,954 - Reval. of dir. inv. in U.S. CI ) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. 32 33 34 35 36 October 1990 Nonfinancial Corporate Business Nonfinancial Corporate Business Factors Accounting for Change in Net Worth 78 Annual Flows Annual Flows Nonfinancial Corporate Business? Excluding Farms 1 Gross investment of nonfinancial corporate business sector, from Flow of Funds Accounts 321 ,233 301 ,337 345 ,307 337 ,879 351 ,400 341 ,202 -19 , 969 83 ,895 103 ,864 330 ,401 -29 ,064 150 ,769 179 ,833 354 ,074 - 8 ,767 112 ,507 121 ,274 378 ,335 -40 ,456 116 ,308 156 ,764 382 ,234 -30 ,834 104 ,329 135 ,163 6 + Corporate equity issues 7 - Min. rights from U.S. govt. -84 ,500 4 ,376 -84 ,975 7 ,194 -75 ,500 2 ,936 -129 ,500 3 ,307 -124 ,150 2 ,398 8 - Capital consump.allow., NIPA 9 - Inventory valuation adj. 250 ,497 -1,675 265 ,290 6 ,750 279 ,602 -19 ,425 295 ,269 -26 ,975 315 ,433 -21 ,674 -63 ,222 -68 ,907 -140 295 , 129 295 ,269 -235 315 ,198 315 ,433 11 12 13 123 230 295 402 126 ,408 212 .720 315 ,198 401 ,510 14 15 16 17 18 19 20 21 2 3 4 5 10 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities = Net investment flow, Balance Sheet basis -16 ,465 -62 ,872 6 ,694 11 - Depreciation valuation adj. Depreciation charges 12 -Cap. consump. allow., NIPA 13 -27 250 ,470 250 ,497 -75 265 ,215 265 ,290 -94 279 ,508 279 ,602 14 + Reval. of physical assets 15 Change in value Depreciation charges 16 -Gross purchases (1) 17 30 , 128 118 , 159 250 ,4 70 338 ,501 74 ,780 126 ,022 265 ,215 316 ,457 111 203 279 370 18 19 20 21 22 Revaluation by type of asset Residential structures Nonres. plant 8 equipment. Inventories (1) + Change in the value of land holdings ,988 ,043 ,508 ,563 ,796 ,670 ,129 ,003 30 ,128 1 ,971 23 ,859 4 ,298 74 ,780 -1 ,203 76 ,790 -807 111 ,988 2 ,522 97 ,211 12,,255 123 ,796 685 103 , 744 19 ,367 126 ,408 5 ,362 113 ,170 7 ,876 30 ,740 31 ,928 26 609 23 ,805 26 ,228 23 + Reval. of fgn. dir. invest. Change in value 24 25 -Direct investment (2) 6 ,046 15 ,730 9 ,684 12 ,293 24 ,682 12 ,389 24 ,669 50 ,659 25 ,990 3 , 144 16 ,466 13 ,322 10 132 33 .826 23 ,694 23 24 25 26 - Reval. of dir. inv. in U.S. Change in value 27 -Direct investment (2) 28 -459 20 , 032 20 ,491 -345 35,,799 36 , 144 4 ,111 51 ,376 47,,265 -507 57 ,063 57,,570 2 ,289 71 ,966 69 ,677 26 27 28 29 + Other revaluations -884 4 ,299 -28 ,809 11 ,869 -1 ,471 29 30 = Change in net worth 50 ,051 60 ,848 137,,134 100,,039 90 ,336 30 Memo: 31 Net worth outstanding 3385 ,703 3446,,551 3583,,685 3683 724 3774 ,060 6,,694 -63,,222 -68 ,907 9,.711 171 .706 208, 568 370,,563 21,,276 199,.979 223, 300 402,,003 16 ,197 177,,850 239 857 401,,510 Tangibles and net worth on historical cost basis: 32 = Net investment flow 33 34 35 36 • Valuation adjustment on physical assets (3) Change in value Depreciation charges -Gross purchases CI) 37 • Change in the value of land holdings -16 ,465 -62 ,872 7,,066 167, 118 178,,449 338,,501 9,,478 131, 791 194,, 144 316, 457 33 34 35 36 11,,677 6, 074 8,.473 9, 066 9,,701 -72,,048 178, 44 9 250, 497 -71, 146 194, 144 265, 290 -71 .034 208, 568 279, 602 -71 ,969 223, 300 295, 269 -75, 576 239- 857 315 433 41 + Reval. of fgn. dir. invest. 6,,046 12, 293 24, 669 3, 144 10, 132 41 42 - Reval. of dir. inv. in U.S. 459 -345 4, 111 -507 2, 289 42 38 - Depreciation valuation adj. 39 Depreciation charges 40 -Cap. consump. allow., NIPA 43 + Other revaluations 38 39 40 -884 4, 299 -28, 809 11- 869 -1, 471 43 44 = Change in net worth 79, 947 40,.763 87, 661 54, 609 38, 939 44 Memo: 45 Net worth outstanding 2132, 796 2173, 559 2261, 220 2315- 829 2354, 768 CI) Before inventory valuation adjustment. (2) Excludes capital gains. (3) Effect of different treatment of certain items in BEA capital accounts from the the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. Data are in millions of dollars. October 1990 Private Financial Institutions Private Financial Institutions 79 Factors Accounting for Change in Net North Annual Flows Annual Flows Private Financial Institutions 1 1 ,267 1 ,007 1 ,243 1 ,216 2 ,108 1 ,181 1 ,993 Gross investment of private financial institutions, from Flow of Funds Accounts 2 3 4 5 236 1 ,031 - 2 ,354 -3 ,385 273 734 12 ,170 11 ,436 299 944 10 ,275 9 ,331 333 883 12 ,883 12 ,000 391 1 ,717 ! 20,,564 18 ,847 434 747 20 ,460 19 ,713 379 1 ,614 26 ,573 24 ,959 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 6 108 88 82 31 118 191 175 • Corporate equity issues 7 207 227 254 265 275 314 340 - Capital consump. allowances 8 1 ,168 868 1 ,071 982 1,,951 1 ,058 1 ,828 = Net investment flow, Balance Sheet basis 9 10 11 3 ,527 3,,527 3 ,975 3 ,975 4 ,263 4 ,263 4 ,452 4 ,452 5,,055 5,,055 5 ,411 5 ,411 7 6 ,662 6 ,655 s - Reval. of life insur. and pension fund reserves Change in value -Net claims issued 12 13 14 -249 33 282 -94 115 209 7 103 96 1 ,228 1 ,555 327 35 274 239 -160 137 297 -81 - Reval. of mutual fund shares 450 Change in value 13 531 -Shares issued 14 15 16 17 18 56 85 207 236 59 105 227 273 163 208 254 299 3 71 265 333 194 310 275 391 275 395 314 434 110 + Reval.of reproducible assets Change in value 149 16 Depreciation charges 340 17 379 -Gross purchases, FOF basis 19 14 33 36 12 51 65 20 21 22 -147 153 300 -66 348 414 -73 288 361 1 ,628 2 ,506 878 358 1,,547 989 120 845 725 23 -10 130 -64 34 52 -118 24 1 ,330 1 ,118 1 ,126 1 ,431 2 ,571 1 ,560 31 + Change in the value of land holdings 231 + Reval. of corp.equities held Change in value 1,,609 -Net purchases 1:,378 -119 • Other revaluations 23 2 ,155 = Change in net worth 24 Memo: Net worth outstanding Data are in millions of dollars. 9 10 11 October 1990 Private Financial Institutions Private Financial Institutions 80 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1953 1954 1955 1956 1957 1958 1959 1960 Private Financial Institutions 1 Gross investment of private financial institutions, from Flow of Funds Accounts 2 ,080 3 ,407 2 ,355 2 ,216 1,823 3 ,070 2 ,709 3 ,467 1 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 609 1 ,471 22 ,864 21 ,393 647 2 ,760 28 ,882 26 ,122 848 1 ,507 28 ,612 27 ,105 824 1 ,392 25 ,329 23 ,937 861 962 26,696 25,734 830 2 ,240 38 ,389 36 ,149 1 ,006 1 ,703 32 ,573 30 ,870 984 2 ,483 38 ,603 36 ,120 2 3 4 5 6 + Corporate equity issues 202 334 52 329 339 202 267 201 6 7 - Capital consump. allowances 361 394 419 486 532 557 587 629 7 1 ,921 3 ,347 1 ,988 2 ,059 1,630 2 ,715 2 ,389 3 ,039 8 4 7 ,262 7 ,258 53 7 ,758 7,,705 2,,265 10,,273 8 ,008 5 8 ,348 8 ,343 -662 8,304 8,966 2 ,733 12 ,121 9 ,388 1 ,246 12 ,122 10 ,876 88 9 10 ,634 10 10 ,546 11 12 - Reval. of mutual fund shares 13 Change in value 14 -Shares issued -193 215 408 1.,441 .963 522 949 1,,729 780 159 1 ,208 1 ,049 -1,402 -332 1,070 2,,931 4 ,527 1,,596 879 2 ,577 1 ,698 -175 12 L ,208 13 1,,383 14 15 + Reval.of reproducible assets 16 Change in value 17 Depreciation charges 18 -Gross purchases, FOF basis 10 258 361 609 3 256 394 647 234 663 419 848 365 703 486 824 89 418 532 861 66 359 557 830 67 486 587 1,,006 8 = Net investment flow. Balance Sheet basis - Reval. of life insur. and 9 pension fund reserves 10 Change in value 11 -Net claims issued 19 • Change in the value of land holdings 20 • Reval. of corp.equities held 21 Change in value 22 -Net purchases 23 + Other revaluations 58 413 629 984 15 16 17 18 79 116 147 196 200 212 208 205 19 -263 1,.075 1,,338 3,.290 4,.787 1,.497 4. 932 6,.416 1,.484 333 1 ,802 1 ,469 -2,696 -416 2,280 8,.431 10,.831 2,.400 2 ,952 6,,273 3 ,321 ] 175 20 3, 605 21 3, 430 -6 -350 -127 -92 -368 -368 72 -47 23 24 = Change in net worth 1,.930 4,.912 3i .960 ,697 2i 919 5,.392 3,.563 3, 517 24 Memo: 25 Net worth outstanding 34,.340 39, 252 43,.212 45,,909 46,828 52,.220 55,.783 59,.300 25 Data are in millions of dollars. October 1990 Private Financial Institutions Private Financial Institutions 81 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Private Financial Institutions Gross investment of private financial institutions, from 4, 509 Flow of Funds Accounts 1 3,695 4,163 1, 770 3, 635 2, 744 2, 519 3, 192 2 3 4 5 941 2,754 48,802 46,048 1,251 2,912 56,631 53,719 1, 108 662 57, 044 56, 382 1, 700 1, 935 66, 505 64, 570 1, 965 779 71, 551 70, 772 1, 913 606 58, 319 57, 713 2, 108 1, 084 82, 274 81, 190 6 434 240 339 172 27 76 80 626 7 659 697 762 834 939 1,.056 1,212 1,454 8 3,470 3,706 1, 347 2, 973 1,832 1,.539 2, 060 3,,681 9 10 11 4,201 15,275 11,074 -3,274 8,632 11,906 3, 926 16, 508 12,,582 4,.064 19,.092 15,028 4, 103 19,,640 15,,537 -5,,000 12,,967 17,,967 8, 396 25,.755 17,,359 6,,590 25,,210 18,,620 12 13 14 3,724 5,849 2,125 -3,265 -1,604 1,661 2 ,543 3 ,943 1 ,400 1,,896 3 ,902 , 2,,006 2,,884 6 ,104 3 ,220 - 4 ,025 -391 3 ,634 6,,943 9,,478 Z ,535 2 ,109 6 ,925 4 ,816 15 16 17 18 165 447 659 941 254 808 697 1,251 348 694 762 1 ,108 330 1 ,196 834 1 ,700 493 1 ,519 939 1 ,965 716 1 ,573 1 ,056 1 ,913 767 1 ,663 1 ,212 2 ,108 1 ,147 + Reval.of reproducible assets Change in value 2 ,986 Depreciation charges 1 ,454 -Gross purchases, FOF basis 3 ,293 15 16 17 18 19 264 219 173 256 221 149 -42 175 • Change in the value of land holdings 19 20 21 22 11,091 15,146 4,055 -7,682 -3,296 4,386 8 ,882 12 ,732 3 ,850 8 ,467 13 ,040 4 ,573 9 ,321 15 ,275 5 ,954 -10 ,308 - 4 ,321 5 ,987 19 ,201 27 ,993 8 ,792 12 ,149 22 ,947 10 ,798 3, 293 1,216 96, 251 95, 035 Capital expenditures Net financial investment Net acq. of finan. assets -Net iilcr. in liabilities Net investment flow, Balance Sheet basis Reval. of life insur. and pension fund reserves Change in value -Net claims issued 9 10 11 Reval. of mutual fund shares 12 13 Change in value -Shares issued 14 Change in value -Net purchases 21 22 23 -117 -236 -687 -139 2 83 187 -423 23 24 6,948 2,800 3 ,594 5 ,927 4 ,882 1 ,204 6 ,834 8 ,030 24 25 66,248 69,048 72 ,642 78 ,569 83 ,451 84 ,655 91 ,489 99 ,519 Data are in millions of dollars. October 1990 Private Financial Institutions Private Financial Institutions 82 Factors Accounting for Change in Net Worth Annual Flows Annual Flows Private Financial Institutions 1 Gross investment of private financial institutions , from Flow of Funds Accounts -549 -2,,656 4,608 999 6 9164 2,.112 -6, 052 9,,213 1 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 3,,431 -3.,980 72.,397 76,,377 3,,220 -5,,876 101,,252 107,,128 3,945 663 146,060 145,397 5,,011 -4,,012 *10,,306 >14,,318 5, 795 369 198, 755 198. 386 7, 119 -5, 007 161, 514 166, 521 9, 390 -15, 442 181, 606 197,,048 8,,665 548 236,,488 235,,940 2 3 4 5 6 • Corporate equity issues 1,,336 1,,982 2,222 3,,535 2,,958 1,229 1,,067 2,,481 6 7 - Capital consump. allowances 1,,609 1,,754 2,006 2,,312 2. 618 3, 304 4, 171 4,,929 7 2,,222 6,,504 37 -9,,156 6,,765 8 = Net investment f low, Balance Sheet basis 8 822 -2,,428 - Reval. of life insur. and 9 pension fund reserves 10 Change in value 11 -Net claims issued -6,,084 14,,168 20,,252 2 ,201 i 23,,903 21.,702 15,451 40,514 25,063 11.,841 57,,147 45,,306 -25,,868 11,,708 37,,576 -29,,243 11,,612 40,,855 34,,895 103,,020 68.,125 15.,572 9 67.,475 10 51.,903 11 12 - Reval. of mutual fund shares 13 Change in value 14 -Shares issued -9,,380 -3 ,645 5 ,735 -3,,327 -776 2 ,551 7,720 8,635 915 3,,541 3 ,480 — 61 -12,,352 -12,,291 61 -12.,206 -11.,484 722 7.,975 7 ,883 -92 5 ,453 12 3 ,476 13 -1 ,977 14 15 + Reval.of reproducible assets 16 Change in value 17 Depreciation charges 18 -Gross purchases, FCF basis 829 2 .651 1 ,609 3 ,431 1,741 3,680 2,006 3,945 1 ,335 4 ,034 2 ,312 5 ,011 2,,054 5 ,231 2,,618 5 ,795 5 ,796 9 ,611 3 ,304 7 ,119 2 ,601 7 ,820 4 ,171 9 ,390 19 + Change in the value of land holdings 20 + Reval. of corp.equities held 21 Change in value 22 -Net purchases 23 • Other revaluations 1,,169 2 • 635 1 ,754 3 ,220 254 132 240 358 334 685 169 531 19 -1 ,925 9 ,432 11 ,357 26,325 45,542 19,217 20 ,797 42 ,183 21 ,386 -45 ,224 -32 ,389 12 ,835 -53 ,149 —46 ,365 6 ,784 47 ,248 58 .807 11 ,559 25 ,625 20 34.,779 21 9.,154 22 2 ,803 5 ,742 1,188 5 ,633 10 ,790 4 ,721 7 ,520 5 ,941 23 11,147 14 ,963 12 ,678 -461 5 ,512 22 ,173 24 131 ,330 144 ,008 143 ,547 149 ,059 171 ,232 25 1,885 3,816 Memo: 25 Net worth outstanding 101,404 105,220 15 16 17 18 -16 ,643 -4 ,009 12 ,634 24 = Change in net worth Data are in millions of dollars. 4 ,336 8 ,072 4 ,929 8 ,665 October 1990 Private Financial Institutions Private Financial Institutions 83 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1977 Private Financial Institutions 9,168 2,708 Gross investment of private financial institutions, from Flow of Funds Accounts 1 18,012 -10,,559 506, 714 517,,273 29,070 -26 ,362 713 ,080 739,,442 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 2 3 4 5 + Corporate equity issues 6 - Capital consump. allowances 7 Net investment flow. Balance Sheet basis 8 28,474 28,012 -3,364 8,497 671 304 • 459 303: 788 10,101 15 ,778 382 ,766 366,,988 12,127 16 ,347 389 ,350 373 ,003 13,163 14 ,849 377 ,094 362 ,245 14,968 -18 332 458 ,495 6/6 ,827 6 , 632 2• 2 ,517 2 ,665 2 ,157 2 ,689 4,,674 3,,649 8,,196 7 5,,671 6,,264 7 ,375 8,,466 9 ,935 11,,370 12,,303 13,,734 3 4 5 5,592 7,453 25,879 16,112 -10,,520 444,,636 455,, 156 - 8 6,-129 22, 132 23,,764 21,,703 -10,,610 9 10 11 -16, 185 55, 726 71,,911 17 354 105,-156 87,-802 12 13 14 -1,,987 -1,,020 967 631 559 -72 5,,357 5,,739 382 15 16 17 18 4,,778 7,,604 5--671 8,-497 2,-881 6,-718 6,-264 10,-101 3, 848 8,,600 7 ,375 12 ,127 19 322 -116 24 20 21 22 -19,,161 - 7 ,628 11 ,533 22,,540 34 ,811 12,,271 24 ,373 44 ,073 19 ,700 23 4 ,190 - 2 ,021 1 ,628 : 1,,930 11,,145 24 14 ,430 27 ,431 33 ,857 39,,002 6 ,398 25 185 ,662 213 ,093 14.,423 108,• 077 93,,654 246 ,950 Data are in millions of dollars. 40, 225 149,,935 109,• 710 -1,,104 -1,-201 -2, 830 Reval. of life insur. and pension fund reserves Change in value -Net claims issued -27,,833 80,,038 107,,871 41,• 403 177,>522 136,,119 61 -682 , 206,-616 144,-934 -12, 555 126,-916 139, 471 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 6, 929 11,,626 8,,466 13,• 163 7,,222 12,,255 9,,935 14,,968 3,,428 8 170 11, 370 16,,112 1,,597 7,-306 12,.303 18,,012 1,-374 16,-710 13, 734 29, 070 875 364 472 1,-129 83, 311 133,-668 50,,357 4 ,797 8,,108 13,,423 22,,559 58,-587 = Change in net worth 24 328,,332 Memo: 386,,919 Net worth outstanding 25 700 55 • 120 79,,623 24,,503 285 ,952 -35,,751 - 9 ,998 25,,753 292 ,350 55,,582 83,,690 28,, 108 305,,773 9 10 11 Reval. of mutual fund shares 12 Change in value 13 -Shares issued 14 + Reval.of reproducible assets Change in value Depreciation charges -Gross purchases, FOF basis 15 16 17 18 + Change in the value of land holdings 19 -12,-131 3, 664 15,-795 • Reval. of corp.equities held 20 Change in value 21 -Net purchases 53,,708 • Other revaluations 23 October 1990 Private Financial Institutions Private Financial Institutions 84 Factors Accounting for Change in Net Worth Annual Flows Annual Flows 1985 1986 1987 1988 1989 Private Financial Institutions 1 Gross investment of private financial institutions, from Flow 1 of Funds Accounts 6 ,411 2 3 4 5 Capital expenditures Net financial investment Net acq. of finan. assets -Net incr. in liabilities 36 ,007 -29 596 774,,651 804 ,247 23 ,933 40,,575 -16, 642 901 • 838 918,,480 19 ,895 44 -24 604 629 ,867 ,972 ,844 ,816 5 ,667 32,,571 1 51 405 -45 ,738 621 379 667,,117 57,,659 -25,,088 656 ,690 681,,778 2 3 4 5 6 + Corporate equity issues 13 ,585 11,,613 14 ,593 3,,258 5,,473 6 7 - Capital consump. allowances 15 ,311 17,,790 20,,695 23 ,825 27,,594 7 4 ,685 17,,756 13 ,793 - 1 4 ,900 10 450 8 93 i ,854 261,,470 167,,616 77,,777 226,,385 148,,608 32,,258 176 ,955 144,697 99 ,546 285 ,880 186,,334 233 257 380,,087 146 830 9 10 11 12 - Reval. of mutual fund shares 13 Change in value -Shares issued 14 19,• 172 103,,551 84,,379 14, 243 173, 243 159,,000 -27,,222 46,,671 73, 893 17 ,001 18,,118 ,117 35, 517 76, 855 ,338 41 , 12 13 14 15 • Reval.of reproducible assets 16 Change in value Depreciation charges 17 18 -Gross purchases, FOF basis -5,• 178 15,,518 15, 311 36,,007 4,,154 26- 939 17,,790 40, 575 -380 23,,792 20, 695 44 , ,867 6,,018 33, 598 23, 825 51 ,405 6, 292 36 • 357 27,,594 57,,659 15 16 17 18 = Net investment flow. Balance Sheet basis - Reval. of life insur. and pension fund reserves Change in value -Net claims issued 8 9 10 11 • 19 Change in the value of land holdings 1,,234 1,,525 1,,967 1,,709 2,,246 19 137, 851 184,,703 46,,852 123, 446 174 301 50,,855 32, 847 64,,865 32 ,018 139,,447 136,,585 -2, 862 314, 506 321 •697 7, 191 20 21 22 23 + Other revaluations 12,,952 -6,,442 -19,,636 8,,448 -17, 225 23 24 = Change in net worth 38 ,518 48 ,419 23,,555 24,,175 47 ,495 24 Memo: 25 Net worth outstanding 425,,437 473, 856 497,,411 521 586 569, 081 25 20 + Reval. of corp«equities held Change in value 21 -Net purchases Data are in millions of dollars.
@FedFRASER