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C.9 September 1991 Balance Sheets Flow of Funds Balance Sheets For the U.S. Economy 1949-90 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 1990 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 March 1991. This issue includes revisions in financial assets and liabilities for 1989 and 1990 as reflected in the Quarterly Flow of Funds Accounts publication. There have been no revisions in tangible assets except for minor updates in the 1990 current-dollar values of inventories held by the nonfinancial business sectors and small revisions in the values of land held by corporate and noncorporate business. The figures shown on the tables for equipment, residential and nonresidential structures, and inventories are from tabulations published by BEA. The BEA calculation is a perpetual inventory procedure that consists of accumulating aggregate purchases over a long period of years and deducting estimates of depreciation and retirements according to various schedules. 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 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 f£ r # h ?i Z 4 7 -, r e l ? a S e ' fj:?w of Funds Summary Statistirs. is §5.00, the full Z.l release (flows and annual outstandings) is $15.00. 1 . Department of Commerce, Bureau of Economic Analysis. Fixed Reproducible Tangible Wealth in the United states. 1925-as (Washington: U.S. Government Printing Office. June 1987). See also John C. Musgrave, "Fixed Reproducible Tangible Wealth in the United at Qa' n o 8 6 ™ " ' " ^ u r v e v Current Business vol. 70 (August 1990), pp.. yy-ioz. The C.9 release, Balance Sheets for the U.S. Economy, which appears twice a year, usually in March and September, 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. S e p t e m b e r 1991 National Net Worth National Consolidated Year-End National Net Assets with Tangibles at Current Outstandings Year-End 1945 1946 1948 1 2 3 4 5 6 7 4 6 3 ,.403 3 4 6 :5 5 7 135 . 966 114:-511 4 9 ,870 4 6 .210 1 1 6 .846 553- 287 4 2 3 , 181 1 6 0 ,• 3 2 3 140-. 7 4 9 68 , 9 3 8 53- 171 130, 1 0 6 6 4 8 ,.649 5 0 6 771 190- 5 2 8 171 •2 3 7 79 ,877 65 . 129 141 , 8 7 8 8 9 10 15 • 8 4 4 7 ,227 942 18 2 7 1 7: 1 ,001 : 24 ,879 8 ,366 972 11 7 ,675 10 .043 15 ,541 1949 1950 1951 745- 4 38 5 9 0 ,.674 223, 263 2 0 3 761 77,• 0 8 4 86, 56 6 1 5 4 ,.764 8 5 6 988 680, 4 6 9 2 4 9 ,2 4 2 903 96,.135 108 , 189 1 7 6 ,519 952 609 7 5 8 ,. 0 8 5 2 7 3 ,• 0 0 9 2 5 1 •8 3 8 108 8 2 3 124, 4 1 5 194 •5 2 4 27 ,769 9 ,625 944 28 ,843 10 , 7 0 0 708 32:,608 11 ,788 1 ,175 33 : ,335 12 ,979 1 , 390 17 , 2 0 0 17 ,435 19 , 6 4 5 18:, 9 6 6 714 564 210 192 85 76 150 ,868 ,304 ,672 ,256 , 254 ,564 Net Worth Cost Outstandings 1 0 0000,• 33 5 3 4 D o m e s t i c n e t w o r t h ( 1 ) (2 ) R e p r o d u c i b l e a s s e t s (3) 797, 2 1 9 2 8 8 ,• 1 5 3 Residential structures Nonres. plant 8 equip. 2 6 7 •0 7 4 Inventories 108-• 0 0 3 Consumer durables 133, 989 2 0 3 ,.115 L a n d at m a r k e t v a l u e 1 2 3 4 5 6 7 + F 1 o r e i g n a s s e t s o w n e d by U . S . residents 35 . 786 U.S. dir. invest. abroad 14 : • 721 Fgn. corporate equities 1 ,4 5 9 Other financial claims o w n e d by U . S . r e s i d e n t s 19,,606 15 11 , 1 1 4 9 ,918 8 ,582 9 ,176 9 ,224 11 ,061 11 , 4 9 7 12:, 1 3 2 U.S. a s s e t s owned by foreigners F g n . d i r . i n v e s t , in U . S . U.S. corporate equities Other financial claims owned by fgn. r e s i d e n t s 16 2 0 ,083 2 0 ,706 22 ,868 24 ,399 2 4 ,563 2 2 ,820 22,, 8 7 2 23 : ,252 U.S. 17 483 -009 5 7 7 ,, 1 5 3 6 8 2 ,731 752 ,768 784 , 189 8 9 5 ,039 9 9 0 ,211 1 0 3 9 :, 5 9 0 18 4 8 3 ,009 5 7 7 . 153 682, 731 752 ,768 7 8 4 ,. 1 8 9 895 9 9 0 ,•211 National 1039 ,590 19 703 ,222 793,• 4 3 8 8 8 5 ,• 8 1 5 946 ,625 980, 553 1 1 7 9 ,• 6 1 8 1 2 4400,,,133 133 20 21 23 24 354 662 188 110 9 .412 ,972 ,942 .266 ,352 391 , 6 8 4 721 ,8 6 8 217, 8 5 0 102, 0 9 0 10, 2 4 4 4 2 8 ,,946 782, 4 4 8 2 4 1 •9 9 1 99, 8 3 7 11 :• 6 7 4 457,008 ,018 253 , 082 9 8 ,621 13 , 3 0 7 4 7 9 ,,264 8 5 4 ,5 6 3 2 5 3 ,,832 106,,375 15 0 9 2 5 2 4 ,7 6 2 957, 733 2 8 5 ,. 141 130, 3 1 9 17.• 5 1 1 570. 382 1050. 2 6 0 306 699 152-• 8 1 2 2 0 ,• 3 6 7 6 0 7 ,629 1 1 0 7 :, 9 1 5 3 0 9 :, 6 0 4 166 4 9 8 24 , 184 25 26 27 113 ,469 76 , 7 3 8 132 ,902 126, 9 2 5 92,,473 1 5 4 :5 8 6 143,020 100, 6 4 3 183,, 2 3 6 152 ,282 102 ,497 2 0 2 ,397 1 5 5 ,910 9 9 ,549 2 1 2 ,679 167:,565 119 5 8 6 2 3 5 ,804 177,,160 131 .,785 2 5 9 ,,926 180 ,655 131 2 9 4 2 7 5 ,827 ,701 ,119 ,352 ,770 2 7 :,770 ,449 10:.244 ,923 4 : 2 9 :, 9 7 0 2 3 :, 5 6 7 11 , 6 7 4 5 ,271 942 1 ,001 : 972 12 13 14 16 ,321 2 ,507 2 ,700 28 29 30 31 25 21 9 4 32 13 , 6 6 5 2 ,603 2 ,480 15 ,111 2 ,503 2 ,690 14 , 2 6 8 2 , 787 2 ,305 32 24 13 5 ,441 ,693 ,307 ,559 944 14 ,655 2 ,941 2 ,490 33 26 15 8 ,151 , 124 ,092 ,065 708 17:,377 3:,391 2 ,925 039 1 0 8 4 ••511 36 28 17 9 18 , 6 0 5 3:, 6 5 8 3 ,450 ,794 ,695 ,511 ,412 4 0 :,365 30:, 2 5 5 2 0 .367 10:, 2 5 7 1 ,175 : 1:,390 19 7 8 2 3., 9 4 5 3:.705 44 32 24 11 2 ,700 2 ,690 2 ,480 2 ,305 2 ,490 34 35 36 37 38 -223 • 845 -799 - 2 2 3 ,320 232 42 - 2 2 1 ,911 -565 - 2 2 1 ,637 247 44 - 2 0 7 ,621 -510 - 2 0 7 ,427 269 47 - 1 9 9 ,114 -656 - 1 9 8 ,783 277 48 - 2 0 2 ,916 -890 - 2 0 2 ,356 284 46 39 5 ,390 7 ,315 6 ,045 6 ,618 8 ,334 2 ,925 - 1 9 8 ,661 - 3 ,909 - 1 9 5 , 118 311 55 10 ,939 3:,450 - 1 9 4 :,295 -5. 033 - 1 8 9 , 659 334 63 6,,948 3:, 7 0 5 - 2 00 44 ,,641 641 - 1 0 ,536 - 1 9 4 ,533 360 68 6 ,33 4 4 net worth, Private net by 8 are in millions of dollars. 12 13 14 15 16 (4): (6) 19 H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . e q u i t i e s held ( 7 X 8 ) - P e n s i o n fund r e s e r v e s consol. 20 21 22 23 24 Nonfarm noncorp . business Farm business Nonfinancial corps. 25 26 27 P v t . fi n a n . i n s t . n e t a s s e t s S e c t o r net w o r t h •••Pension f u n d r e s e r v e s - C o r p . e q u i t i e s held ( 7 X 8 ) 28 29 30 31 Foreign holdings corporate stock of 31 32 U.S. 33 P u b l i c s e c t o r net a s s e t s S t a t e and l o c a l g o v e r n m e n t s U.S. government Sponsored credit agencies Monetary authority 34 35 36 37 38 Unallocated 39 financial assets (1 ) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l a n d s t a t e and l o c a l g o v e r n m e n t s . ( 3 ) At c u r r e n t c o s t . (4) O w n e d by U.S. r e s i d e n t s . ( 5 ) L i n e s 19 + 3 2 - 3 3 + 34 + 3 9 . (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) E x c l u d e s m u t u a l fund s h a r e s . Data 11 national sector worth, SDRs + Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 - 33 gold = Total consolidated net a s s e t s (4) ,728 ,410 , 184 ,866 1 ,459 monetary 8 9 10 S e p t e m b e r 1991 National Net Worth National Consolidated Year-End 11 + F o r e i g n a s s e t s o w n e d by U . S . residents U.S. dir. invest, abroad Fgn. corporate equities Other financial claims o w n e d by U . S . r e s i d e n t s - U . S . a s s e t s owned by foreigners F g n . d i r . i n v e s t , in U . S . U.S. corporate equities Other financial claims owned by fgn. r e s i d e n t s 12 13 14 15 16 + U.S. 17 = Total consolidated net a s s e t s (4) 18 N a t i o n a l net w o r t h , by T o t a l , all s e c t o r s (5) monetary 19 P r i v a t e net gold worth, 8 SDRs sector consol. (6) H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . equities held (7)(8) - P e n s i o n fund r e s e r v e s 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 28 29 30 31 P v t . f i n a n . inst. net a s s e t s S e c t o r net w o r t h ^Pension fund r e s e r v e s - C o r p . equities held (7)(8) • 33 Foreign corporate stock i n c l u d e d in l i n e s 2 3 & Foreign holdings corporate stock of 31 Unallocated are Tangibles at Current Cost financial assets in millions of dollars. Year-End Outstandings 1533, 876 1175, 508 425 962 420, 382 135: 5 0 8 1 9 3 ,• 6 5 6 3 5 8 ,,368 1176, 8 3 2 933,685 342, 427 319, 968 113, 975 157, 315 243, 147 1283, 638 1012, 198 3 6 1 ,6 6 0 355. 916 122, 745 171, 8 7 7 271, 440 1 3 5 1 ,7 8 2 1058, 638 375,455 380, 667 126, 341 176, 175 2 9 3 , 144 1408, 252 1091,827 390, 946 392, 660 126, 259 181 -9 6 2 316, 425 1476, 172 1139, 426 4 0 9 , 688 409- 015 131, 714 189, 009 336, 746 38, 021 16, 2 5 3 1 ,329 , 40, 283 17 , 6 3 1 1 ,8 6 8 43, 049 19, 3 9 5 2, 4 3 9 49, 005 22, 505 2, 6 2 5 53, 608 25, 394 2, 233 58, 383 27, 409 3, 0 9 5 62, 606 29, 8 2 7 3, 6 8 9 6 7 .514 31 ,865 3 ,984 201,439 20, 784 21, 2 1 5 23, 8 7 5 2 5 , 981 27, 8 7 9 2 9 :,090 31 , 6 6 5 20 811 4 ,251 3 ,650 23: 929 4,,633 5 ,254 25, 9 0 7 5 076 6,- 5 7 5 28, 608 5, 4 5 9 6 961 28, 734 5, 7 1 0 6, 0 9 1 3 2 :, 3 9 2 6:,115 8 :.305 36:,930 6 ,604 9 ,363 38 ,855 6 ,910 9 ,302 12 , 9 1 0 14 ! 0 4 2 14,,256 16:. 1 8 8 16, 9 3 3 17 , 9 7 2 2 0 :,963 2 2 ,643 2 2 ,091 21 ,,793 21 ,,753 22: 058 22, 8 5 7 2 0 :- 5 8 2 19 ,507 17 , 8 0 4 1083 ,633 1 1 2 8 ,829 1 2 1 5 :, 7 2 7 1 3 2 6 ,093 1 3 9 9 :.513 1454,825 1 5 2 1 ,355 1 5 8 0 ,339 1083 ,633 1 1 2 8 ,829 1 2 1 5 ,727 1326 ,093 1 3 9 9 :,513 1454 ,825 ,355 1521 : 1580 ,339 1431 ,500 1 5 4 2 ,106 1 6 1 8 ,119 1691 ,495 1 7 6 4 :,199 1 8 2 5 ,739 ,599 ,893 ,574 ,041 ,679 790,220 1 4 5 9 ,050 358 ,830 2 5 8 ,668 51 ,332 828 1623 374 360 60 ,701 ,433 ,226 ,070 ,436 8 6 6 ,710 1 7 0 4 ,151 906 1749 387 3 78 76 2 0 6 ,966 141 , 8 3 8 3 6 8 ,061 2 1 3 ,861 1 4 8 ,606 3 9 2 ,802 2 2 0 ,501 1 5 7 ,846 4 0 8 ,152 2 2 5 ,008 161 ,500 4 2 8 ,586 (4) 1292 ,497 637 1135 311 158 28 ,437 ,947 ,704 ,268 ,538 184 ,565 129 ,540 291 ,018 49 34 28 12 ,937 ,340 ,538 ,941 1 3 4 6 ,924 666 1245 317 228 33 ,597 ,860 ,058 ,910 ,295 188 ,096 131 ,561 3 0 5 ,851 54 39 33 17 ,819 ,252 ,295 ,728 708 1355 327 278 40 , 127 034 ,954 ,455 ,498 196 ,037 134 ,745 333 ,025 59 43 40 24 ,566 ,212 ,498 ,144 759 1446 345 296 45 65 45 45 25 ,642 ,909 ,679 ,946 72:,630 4 6 ,828 5 1 :, 3 3 2 2 5 :, 5 3 0 76 52 60 36 386,173 69 ,246 ,295 ,220 ,436 ,361 8 2 :,395 5 5 ,783 69,246 4 2 ,634 ,742 ,332 -431 ,431 ,728 2 2 9 ,810 1 6 2 ,441 4 3 6 ,957 89 59 76 46 ,789 ,300 ,728 ,239 1 ,329 1 ,868 2 ,439 2 ,625 2,, 2 3 3 3 ,095 3 ,689 3 ,984 3 ,650 5 ,254 6 ,575 6 ,961 6 ,091 8 ,305 9 ,363 9 ,302 - 2 1 4 ,547 - 1 4 ,026 - 2 0 0 ,964 370 73 - 2 2 3 ,841 - 1 7 ,855 - 2 0 6 ,437 377 74 - 2 2 3 ,404 - 2 1 ,095 - 2 0 2 ,784 394 81 - 2 2 2 ,066 - 2 4 ,072 - 1 9 8 ,500 410 96 - 2 2 5 ,218 - 2 8 ,734 - 1 9 7 ,042 444 114 - 2 4 1 ,840 - 3 4 ,242 - 2 0 8 ,190 473 119 - 2 4 9 ,060 - 3 8 ,410 - 2 1 1 ,271 496 125 - 2 5 0 ,649 - 4 1 ,724 - 2 0 9 ,573 517 131 8 ,004 9 ,132 11 , 7 6 7 10 , 3 8 9 10 , 4 7 0 10 , 3 8 0 11 , 8 9 0 10 , 5 6 7 (1) Located w i t h i n U.S. g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l a n d s t a t e and l o c a l g o v e r n m e n t s . ( 3 ) At c u r r e n t c o s t . (4) O w n e d by U . S . r e s i d e n t s . (5) L i n e s 1 9 + 3 2 - 3 3 + 3 4 + 39. C 6 ) Lines 20 + 25 + 26 + 27 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) E x c l u d e s m u t u a l fund s h a r e s . Data with 1090,682 8 6 4 ,7 4 5 317, 8 5 2 293- 079 106, 734 147, 080 225, 937 U.S. 34 P u b l i c s e c t o r net a s s e t s 35 S t a t e and l o c a l g o v e r n m e n t s 36 U.S. government 37 Sponsored credit agencies 38 Monetary authority 39 Assets North 1 0 4 4 ,3 3 2 833- 530 300, 579 280- 8 9 0 109. 088 1 4 2 ,9 7 3 210- 8 0 2 national 20 21 22 23 24 32 Net Outstandings 1 D o m e s t i c net w o r t h ( 1 ) ( 2 ) 2 R e p r o d u c i b l e assets (3) 3 Residential structures 4 Nonres. plant 8 equip. Inventories 5 6 Consumer durables 7 L a n d at m a r k e t v a l u e 8 9 10 National Net S e p t e m b e r 1991 National Net Worth National Consolidated Year-End 1 2 3 4 5 6 7 ,530 >779 ,560 ,260 ,164 ,795 ,751 Assets with Tangibles at Current • 147 • 747 • 106 .563 ,761 ,317 ,400 1 7 1 1 ,, 2 2 4 1302 401 471 540 468 • 552 149 ,508 2 1 2 ,801 4 0 8 ,823 85,556 40,736 5, 145 78,836 37,276 4,714 1 8 0 6 ,,433 1 3 7 6 ,.073 5 0 2 ,• 0 5 0 4 9 4 ,,943 1 5 5 .367 .713 223 , 4 3 0 ,360 96,791 44,480 5,270 1 9 2 0 ,.660 1466, 972 5 2 6 , 165 5 3 5 • 711 169,• 0 3 5 2 3 6 ,.061 4 5 3 ,,688 103-882 49,283 5-048 ,101 .086 ,4 78 ,951 ,170 ,487 ,015 ,827 1717: 644 596 , ,380 640 677 1 9 7 ,377 2 8 3 ,210 5 1 1 ,183 110,319 51,007 4,324 121,158 55,329 5,238 54,988 60,591 2096 1602 567 590 185 258 494 2438 1903 667 709 211 314 535 ,517 ,027 ,831 ,247 ,732 ,217 ,490 Worth Outstandings D o m e s t i c n e t w o r t h (1 ) (2 ) R e p r o d u c i b l e assets (3) Residential structures Nonres. plant 8 equip. Inventories Consumer durables L a n d at m a r k e t v a l u e + F o r e i g n a s s e t s o w n e d by U . S . 132,420 residents 58,547 U.S dir. invest. abroad 6,452 Fgn. corporate equities O + her f i n a n c i a l c l a i m s 67,421 o w n e d by U . S . r e s i d e n t s - 12 Net Cost Year-End 1647 1254 459 449 143 202 392 74-517 34,717 4,902 9 10 Net Outstandings 1585 1207 441 432 137 196 377 8 National 13 14 43,476 7,392 11 , 8 0 8 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 2494,089 U . S . a s s e t s owned by foreigners F g n . d i r . i n v e s t , in U . S . U.S. corporate equities Other financial claims o w n e d by fgn. r e s i d e n t s + U.S. monetary gold = Total consolidated net a s s e t s (4) & SDRs 8 9 10 11 12 13 14 15 16 national 18 1 6 3 3 ,518 1 6 9 7 ,997 1 7 6 2 ,751 1 8 6 3 ,570 1981 ,294 2 1 6 0 :,965 2 2 8 4 ,289 N a t i o n a l net w o r t h , by s e c t o r 2 4 9 4 ,089 T o t a l , all s e c t o r s (5) 19 1888 ,597 1 9 6 1 ,079 2 0 2 8 ,672 2 1 3 5 ,599 2 2 5 5 ,333 2 4 3 7 ,435 2590 -870 2 8 1 0 ,294 20 21 23 24 9 4 2 ,679 1906,434 397 ,178 4 7 7 ,928 8 8 ,649 9 7 8 ,351 1 8 9 6 ,850 4 0 8 ,677 416,183 9 3 ,639 1 0 1 7 ,160 2031 , ,571 4 1 9 ,676 4 8 8 ,694 106,,041 1 0 7 7 ,674 2 1 6 8 ,983 ,798 434 , 5 3 5 ,690 120,,821 1140 2333 456 600 135 1241 2410 483 540 144 1340 2682 500 676 165 1477 3000 529 806 185 25 26 27 2 3 5 ,101 1 6 7 ,371 4 4 9 ,934 2 4 1 >974 172,,483 4 6 3 ,,479 2 4 7 ,720 178, 2 5 5 4 7 7 ,, 4 8 2 2 5 7 ,237 184,,354 5 0 0 ,,389 2 6 6 ,495 1 9 7 .608 5 2 9 ,950 2 8 6 ,779 205 • 224 5 6 9 ,,589 2 9 3 ,973 2 1 5 ,274 6 0 6 ,673 3 1 3 ,455 ,190 6 5 2 ,784 Nonfarm noncorp. business Farm business N o n f i n a n c i al c o r p s . 104,,792 69 ,048 9 3 ,639 5 7 ,895 108 055 72 • 6 4 2 106,,041 70,,628 115, 9 4 5 78 ,569 120,• 8 2 1 8 3 ,,445 120 565 83 • 451 135,,770 98,,656 134, 5 4 4 8 4 ,,655 144,• 1 5 0 94,,261 134,,401 91 :,489 165:.020 122, 1 0 8 1 4 0 ,04 9 99:,519 185 • 4 2 7 144 ,897 P v t . f i n a n . i n s t . net a s s e t s S e c t o r net w o r t h 29 30 • P e n s i o n fund r e s e r v e s - C o r p . e q u i t i e s h e l d (7 ) ( 8 ) 93 66 88 61 28 29 30 31 ,512 ,248 ,649 ,385 ,715 ,456 ,4 7 8 ,493 ,770 ,299 ,213 ,844 ,920 , 150 ,549 ,274 ,386 ,319 ,020 ,816 ,144 ,963 ,938 ,427 Private net worth, (4): consol. Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 33 11 , 8 0 8 10,336 12 , 4 8 5 34 35 36 37 38 -260,101 -45,517 -215,279 559 136 -267,740 -48,273 -220,214 611 136 - 2 7 1 ,913 - 5 0 ,838 - 2 2 1 ,882 670 137 - 2 7 8 , 64 6 - 5 3 ,698 - 2 2 5 ,801 716 137 39 11,928 10,280 13 , 3 3 2 15 , 1 8 2 13 ,835 14,,599 -281 557 -56 • , 151 — 2 2 6:,314 768 140 1 7 ,069 12:,643 2 5 ,511 2 9 ,517 - 2 8 7 ,799 - 5 9 ,987 ,777 817 148 - 3 0 6 ,187 - 6 4 ,909 - 2 4 2 ,304 871 155 - 3 1 9 ,604 - 6 8 ,942 - 2 5 1 ,728 : 900 166 19 ,648 19,879 ,464 26 : Foreign holdings corporate stock of are in millions of dollars. 31 P u b l i c s e c t o r net a s s e t s S t a t e and l o c a l g o v e r n m e n t s U.S. government Sponsored credit agencies Monetary authority Unallocated financial 32 U.S. assets (1 ) L o c a t e d w i t h i n U . S . g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l a n d s t a t e and l o c a l g o v e r n m e n t s . ( 3 ) At c u r r e n t c o s t . (4) O w n e d by U . S . r e s i d e n t s . (5) L i n e s 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) E x c l u d e s m u t u a l fund s h a r e s . Data (6) H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . equities held ( 7 X 8 ) - P e n s i o n fund r e s e r v e s 34 35 36 37 38 S e p t e m b e r 1991 N a t i o n a l Net W o r t h National Consolidated Year-End National Net Assets with Tangibles at Current Year-End 1975 2652, 5 8 8 2092, 8 1 4 7 3 1 ,9 0 5 784, 783 232, 396 343, 730 559, 774 8 9 10 11 + F o r e i g n a s s e t s o w n e d by U . S . residents U.S. dir. invest, abroad Fgn. corporate equities Other financial claims owned by U . S . r e s i d e n t s - 15 16 + U.S. monetary 17 = Total consolidated net a s s e t s (4) National net gold worth? 18 T o t a l , a l l s e c t o r s 21 22 23 24 25 26 27 28 29 30 31 32 SDRs sector - 7 0 ,818 7 0 ,199 75,, 1 4 2 8 1 ,,626 8 8 ,521 106,,221 1 2 0 ,359 1 4 7 ,883 11 94 ,084 11 , 8 1 8 2 6 ,761 98 ,968 13 , 2 7 0 27 ,209 127 ,372 13 , 9 1 4 3 0 ,811 151 , 5 8 5 14 , 8 6 8 39 ,059 157 ,966 2 0 ,55 6 33 ,516 172 ,778 2 5 , 144 2 4 ,221 183 ,820 2 7 ,662 35 ,313 2 1 1 ,913 30 ,770 4 2 ,949 12 13 14 55 ,505 58 ,489 8 2 ,647 97 ,658 103 ,894 123 ,413 120 ,845 138 ,194 15 11 , 8 5 9 11 , 9 2 3 11 , 4 0 0 12 , 4 4 5 13 , 8 1 8 14 , 0 2 6 13,934 13 , 9 9 3 16 2711 ,838 2 8 8 8 ,724 3 1 2 2 ,954 3 4 3 0 ,766 3953 ,917 4 6 3 7 ,522 5 0 5 6 ,501 5 6 4 4 ,190 17 2 7 1 1 ,8 3 8 2888, 724 3122, 954 3430, 766 3953, 917 4637, 522 5 0 5 6 , 501 5 6 4 4 ,190 18 3817, 485 4337, 527 5053, 232 5559, 989 6210,793 19 2242, 214 4 0 2 5 ,3 5 6 8 1 7 ,• 0 9 8 663, 561 302, 483 2 5 2 8 , 711 4204, 078 908, 4 1 4 459, 864 3 0 7 ,.089 2759, 360 4 7 5 1 ,3 6 5 9 9 1 ,.231 5 9 8 , 611 4 0 2 , 163 3077, 187 5 3 7 1 ,4 2 7 1120. 322 712, 8 7 9 4 6 1 ,0 3 9 20 21 22 23 24 4 6 2 ,,206 3 7 1 ,, 9 3 0 1 0 1 9 ,,035 516, 241 4 1 1 ,,379 1 3 0 3 ,,891 5 5 2 ,• 6 7 1 461,531 1 4 5 0 ,,766 616, 224 532, 8 3 5 1 6 0 1 ,,901 25 26 27 (4) 2019, 085 3859, 952 680, 933 8 6 1 ,9 8 6 297, 948 Nonfarm noncorp. business Farm business Nonfinancial corps. 3 2 9 ,.910 2 3 4 ,,529 7 1 2 ,,919 343, 4 6 3 2 4 0 ,.644 7 6 7 ,,009 369, 108 2 5 9 ,,344 8 3 6 ,, 8 1 2 400, 412 2 9 4 ,,290 9 1 1 ,,512 P v t . f i n a n . i n s t . net a s s e t s S e c t o r net w o r t h •Pension fund r e s e r v e s - C o r p . equities held (7)(8) 155 101 194 140 ,546 ,404 ,623 ,481 168,.999 105,,220 2 1 3 ,291 149 ,512 168 116 247 194 192,, 1 8 6 ,330 131 , 2 9 7 ,,948 2 3 7 ,092 6 ,953 6 ,573 7 ,641 10 ,537 2 6 ,761 27 ,209 3 0 ,811 39 ,059 U.S. financial assets in millions of dollars. ,921 ,367 ,524 ,970 ,010 ,547 ,089 ,626 3 3 5 ,,661 1 4 9 ,059 4 0 2 ,163 2 1 5 ,561 10 , 0 2 6 9 ,011 9 ,585 33 ,516 2 4 ,221 242 144 302 204 • 142 ,008 ,483 ,349 - 3 2 0 ,663 — 7 6 ,250 - 2 4 5 ,542 950 179 - 3 4 1 ,316 - 8 5 ,173 - 2 5 7 ,352 1 ,010 199 - 3 7 3 ,065 - 9 3 ,851 - 2 8 0 ,587 1 ,133 240 - 3 8 9 ,058 - 9 2 ,036 - 2 9 8 ,597 1 ,307 2 68 - 3 9 0 ,628 - 8 6 ,881 - 3 0 5 ,715 1 ,654 314 29 ,942 31 , 4 1 5 32 ,502 3 0 ,861 30 ,508 (1) Located within U.S. g e o g r a p h i c a l b o u n d a r i e s . ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l a n d s t a t e and l o c a l g o v e r n m e n t s . ( 3 ) At c u r r e n t c o s t . (4) O w n e d by U . S . r e s i d e n t s . (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) Excludes mutual fund shares. are 1 2 3 4 5 6 7 8 9 10 1852, 5 0 2 3 4 9 4 ,5 1 5 616, 5 2 9 777, 960 2 4 7 ,,524 of 5 5 5 8 , 191 4 358- 239 1532. 333 1709. 871 463, 282 652, 753 1199, 952 283, 919 126 5 8 3 9,,453 146 307 218 652 291 Foreign holdings corporate stock 4 9 8 2 , 303 3959, 006 1363, 5 0 0 1570, 979 428 828 595, 699 1 0 2 3 ,,297 2 4 4 ,,084 114 , 140 9,,585 1699, 3168, 573, 682, 213, 31 678 281 175 612 315 179 397 215, 596 100,,364 9,,011 3219, 261 consol. 4580, 3652, 1262, 1422423, 544, 928, 190,, 2 6 2 91 , .715 10,,026 1589, 463 3 0 3 7 ,2 3 3 554, 036 6 9 9 , 111 194, 623 worth? 3907, 803 3090- 676 1109, 8 9 0 1157, 661 352- 6 2 5 4 7 0 ,• 5 0 0 8 1 7 , 127 173: 666 8 1 ,5 0 3 10,,537 3022, 367 Unallocated Data 240 998 656 065 593 684 242 (6) net 34 P u b l i c s e c t o r net a s s e t s 35 S t a t e and l o c a l g o v e r n m e n t s 36 U.S. government 37 Sponsored credit agencies 38 Monetary authority 39 3396, 2707, 964, 1033, 285, 424, 688, H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . equities held ( 7 X 8 ) - P e n s i o n fund r e s e r v e s + Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 33 755 515 459 521 804 731 240 1976 159, 171 76,,388 7,,641 national by (5) 3079, 2462, 860, 950, 257393, 617, 3486, 687 19 P r i v a t e 20 8 728 089 214 131 310 434 639 Outstandings 147,,041 70,,269 6 ,573 141,.475 6 3 i, 7 0 4 ,953 6! U . S . a s s e t s o w n e d by foreigners F g n . d i r . i n v e s t , in U . S . U.S. corporate equities Other financial claims o w n e d by f g n . r e s i d e n t s 12 13 14 2828, 2250772, 865, 240, 372, 578, Worth Cost Outstandings 1 D o m e s t i c net w o r t h ( 1 ) ( 2 ) 2 Reproducible assets (3) 3 Residential structures 4 Nonres. plant 8 equip. 5 Inventories 6 Consumer durables 7 L a n d at m a r k e t v a l u e Net 293 143 307 157 -404 -89 -317 2 ,911 ,923 ,846 ,462 396 4 ,411 35 ,313 -486 -95 -394 2 ,480 ,250 ,530 ,847 453 8 ,720 3 8 2 ,,646 2 8 171 , ,232 2 9 461 , ,039 3 0 2 4 9 ,625 31 9 ,453 32 4 2 ,949 33 -546 -95 -454 3 ,922 ,682 ,988 ,230 518 34 35 36 37 38 13 , 8 1 5 39 S e p t e m b e r 1991 National Net Worth National Consolidated Year-End 1 2 3 4 5 6 7 National Net Assets with Tangibles at Current Year-End Outstandings 6319, 728 4912, 132 1785, 154 1895, 798 5 0 5 ,.683 725, 4 9 7 1 4 0 7 ,.596 7404, 909 5703, 492 2095, 090 2199, 699 588, 241 820, 462 1 7 0 1 ,.417 8497, 439 6466, 637 2407, 398 2459, 108 674, 8 3 7 9 2 5 ,.294 2 0 3 0 ,, 8 0 2 9578, 943 7243, 113 2 6 7 6 ,.405 2 8 0 7 ,,427 7 3 9 ,,312 1 0 1 9 ,,969 2 3 3 5 ,,830 1 0 6 0 4 ,,750 7 9 8 9 ,,046 2 9 2 8 ,,454 3 1 7 5 ,,130 7 8 8 ,,988 1096, 4 7 4 2 6 1 5 ,,704 10824, 436 8155, 359 2 8 9 3 ,.937 3348, 274 7 7 1 ,,459 1141, 689 2 6 6 9 ,,077 11415, 8 1 3 8557, 227 3 1 1 2 ,.749 3 4 5 0 ,.406 7 8 7 ,.190 1206, 8 8 2 2 8 5 8 ,,586 8 9 10 3 0 5 ,,473 135,• 3 8 2 10 ,110 371,,780 1 5 1 ,761 11 , 2 3 6 4 2 8 ,, 4 3 9 178,, 2 4 0 14,, 8 3 4 4 9 2 ,367 2 0 8 ,467 19 ,166 5 3 8 ,318 2 2 4 ,826 17 , 3 6 0 5 5 4 ,281 2 1 3 ,, 3 4 7 18,,568 5 7 5 ,.132 2 1 5 ,, 9 3 4 2 5 ,,864 11 1 5 9 ,981 2 0 8 ,783 ,365 2 6 4 ,734 2 9 6 ,, 1 3 2 3 2 2 ,,366 3 3 3 ,, 3 3 4 2 4 7 ,877 34 ,595 39 ,779 310 ,186 4 2 ,471 42 ,097 346 ,298 54 ,462 4 8 ,318 401 ,034 8 3 ,046 63 ,444 4 1 3 ,363 108 ,714 63 ,266 4 3 2 ,,295 124,, 6 7 7 75 ,154 4 9 9 ,607 137 ,059 95 ,232 5 8 9 ,762 1 6 4 ,581 9 4 ,931 15 173 ,503 225 ,618 243 ,518 2 5 4 ,544 241 ,383 2 3 2 ,464 2 6 7 ,316 3 3 0 ,250 15 , 2 4 6 16 , 3 9 8 16 , 1 4 6 16 , 7 3 7 13 , 8 9 6 13 , 2 2 9 13 , 7 7 0 Outstandings 1 2 3 4 5 6 7 + F o r e i g n assets owned by U.S. residents 5 6 9 ,, 9 5 2 U.S. dir. invest, abroad 2 2 1 ,,941 Fgn. corporate equities 2 7 ,,017 Other financial claims owned by U.S. r e s i d e n t s 3 2 0 ,994 12 13 14 14 , 3 4 8 North 1 2 0 1 33,, 8 5 7 D o m e s t i c n e t w o r t h ( 1 H 2 ) Reproducible assets (3) 9082, 676 Residential structures 3308, 357 Nonres. plant 8 equip. 3630, 176 Inventories 8 5 8 ,.166 Consumer durables 1 2 8 5 ,,977 L a n d at m a r k e t v a l u e 2 9 3 1 ,,181 - 16 Net Cost 16 = Total consolidated net a s s e t s (4) national 6391 ,672 7479 ,732 8 5 9 3 ,476 9 6 8 4 ,046 1 0 7 4 4 ,951 10962 ,820 11507 ,484 12010 ,784 18 6 3 9 1 ,6 7 2 7 4 7 9 ,,732 8593, 476 9 6 8 4 ,,046 10744, 951 10962, 8 2 0 1 1 5 0 7 ,.484 N a t i o n a l net w o r t h , by s e c t o r 1 2 0 1 0 ,.784 T o t a l , a l l s e c t o r s ( 5 ) 7004, 384 8 1 3 4 ,,364 9301, 037 1 0 4 7 5 ,,481 11626, 148 12004, 296 1 2 7 7 7 ,,473 1 3 5 0 5 ,.260 P r i v a t e 3475, 5927, 1276, 668, 507, 252 291 117 470 452 3974, 245 6762, 379 1522, 5 2 4 6 6 3 ,.873 6 0 1 ,.737 4475, 7772, 1784, 812, 699, 974 055 529 156 396 4 9 4 6 ,,840 8 9 3 6 ,,149 2 0 3 7 ,,217 1 1 1 2 ,,450 8 3 9 ,,642 5 4 6 1 ,.482 9 6 8 5 ,.760 2 2 6 1 ,,186 1 0 5 2 ,.356 9 1 0 ,,736 5 6 5 4 ,.067 10142, 499 2 2 3 2 ,,783 1 1 7 4 ,,362 1 0 8 1 ,,287 6 1 8 3 ,,327 1 1 0 8 9 ,,055 2 3 0 1 ,,629 1 3 2 4 ,, 0 1 7 1 2 8 0 ,,082 6 6 7 3 ,,062 1 1 6 6 9 ,,891 2 2 7 2 ,,334 1 3 2 2 ,,463 1 4 0 2 ,, 0 3 2 25 26 27 726, 682 5 8 2 , 611 1768, 4 8 6 8 7 5 ,,600 6 8 7 ,,199 2 0 5 9 ,,056 1038, 2 7 5 794, 000 2 3 6 5 ,.502 1 2 1 6 ,,648 8 7 3 ,950 2 7 0 8 ,,821 1 4 5 4 ,,397 8 5 8 ,,930 3 0 3 7 ,,291 1 4 6 9 ,,118 8 1 1 ,,712 3 1 5 3 ,,560 1 5 3 2 ,, 0 8 3 8 1 7 ,, 4 6 3 3 2 3 8 ,507 1 5 8 9 ,,108 7 2 2 ,324 3 3 3 5 ,, 6 5 2 Nonfarm noncorp. business Farm business Nonfinancial corps. 28 29 30 31 4 5 1 ,.353 185,,662 5 0 7 ,.452 2 4 1 ,,761 ,264 ,093 ,737 ,566 627, 2 8 6 2 4 6 ,,950 6 9 9 ,,396 3 1 9 ,, 0 6 0 729,, 2 2 2 2 8 5 ,952 8 3 9 ,642 396 ,372 8 1 4 ,,048 2 9 2 ,,350 9 1 0 ,,736 3 8 9 ,,038 9 1 5 ,,839 3 0 5 ,773 1 0 8 1 ,, 2 8 7 4 7 1 ,,221 1006 328 1280 602 1185 386 1402 603 P v t . finan. inst. net asset: S e c t o r net w o r t h •Pension fund r e s e r v e s - C o r p . equities held (7)(8 32 10,,110 11 , 2 3 6 14 , 8 3 4 19 , 1 6 6 17,, 3 6 0 18 , 5 6 8 34 35 36 37 38 -589 -81 -511 3 ,401 ,979 ,684 ,677 585 -624 -76 -553 4 6 ,358 39 4 8 ,318 4 2 ,097 3 9 ,779 33 ,795 ,652 ,395 ,571 681 1 ,024 -644 -69 -580 5 ,487 ,703 ,902 ,405 713 - 2 9 ,590 63 ,444 -698 -71 -633 6 ,630 ,999 ,626 ,179 816 - 4 8 ,527 6 3 ,266 -784 -81 -711 7 ,286 ,265 ,038 ,095 922 - 5 1 ,005 75 ,154 -937 -86 -860 8 ,241 ,020 ,593 ,376 996 - 4 7 ,649 2 5 ,864 95 ,232 - 1 1 2 2 ,363 - 8 2 ,059 - 1 0 5 0 , 125 8 ,773 1 ,048 - 7 8 ,258 27 ,017 94 ,931 - 1 2 9 8 ,828 - 7 4 ,750 - 1 2 3 4 ,653 9 ,436 1 ,139 - 1 2 7 ,734 worth, (4): 19 ,114 ,919 ,032 ,837 net 17 20 21 22 23 24 ,093 ,332 ,082 ,321 consol. are in millions of dollars. (6! H o u s e h o l d net a s s e t s S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . e q u i t i e s held (7)(8: - P e n s i o n fund r e s e r v e s + Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 Foreign holdings corporate stock of 31 U.S. P u b l i c s e c t o r net a s s e t s S t a t e and l o c a l g o v e r n m e n t s U.S. government Sponsored credit agencies Monetary authority Unallocated financial assets (1) Located within U.S. geographical boundaries. ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l and s t a t e and l o c a l g o v e r n m e n t s . (3) At c u r r e n t c o s t . (4) O w n e d by U.S. r e s i d e n t s . (5) L i n e s 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) E x c l u d e s mutual fund shares. Data 11 U.S. assets owned by foreigners F g n . d i r . i n v e s t , in U . S . U.S. corporate equities Other financial claims owned by fgn. r e s i d e n t s 17 538 213 601 276 8 9 10 S e p t e m b e r 1991 National Net North National Consolidated 6 Year-End National Net at C u r r e n t Year-End 1 D o m e s t i c net w o r t h ( 1 ) ( 2 ) Reproducible assets (3) 2 Residential structures 3 Nonres. plant 8 equip. 4 5 Inventories Consumer durables 6 L a n d at m a r k e t v a l u e 7 12529 9515 3482 3771 863 1397 3013 + Foreign assets owned by U.S. residents U.S. dir. invest, abroad Fgn. corporate equities Other financial claims o w n e d by U . S . r e s i d e n t s ,545 ,842 ,951 ,680 ,542 ,669 ,703 1986 13253 10024 3686 3949 853 1534 3228 ,048 ,157 ,952 ,846 ,268 ,091 ,891 1987 14241 10782 4050 4149 918 1663 3459 ,283 ,206 ,130 ,450 ,887 ,739 ,077 1988 15054 11414 4234 4377 996 1805 3640 ,407 ,239 ,832 ,287 ,497 ,623 ,168 1989 16017 12163 4546 4633 1050 1933 3853 Net Worth Cost Outstandings 1985 8 9 10 Assets with Tangibles ,250 ,669 ,042 ,006 ,812 ,809 ,581 Outstandings 1990 16240 12499 4603 4810 1060 2023 3741 ,490 ,214 ,871 ,996 ,695 ,652 ,276 8 5 8 6 ,918 2 3 7 ,671 3 9 ,292 650 ,699 2 6 2 ,353 5 0 ,013 6 9 5 ,109 3 1 3 ,012 5 4 ,670 7 4 6 ,279 3 2 9 ,478 62 ,733 8 5 2 ,497 3 6 3 ,304 95 ,840 942 ,632 4 0 6 ,646 8 9 ,436 3 0 9 ,955 3 3 8 ,333 3 2 7 ,427 354 ,068 3 9 3 ,353 4 4 6 ,550 7 2 4 ,562 1 8 4 ,613 1 2 4 ,453 9 4 4 ,436 2 2 0 ,412 167 ,815 1 0 9 7 ,153 2 7 1 ,788 1 7 4 ,518 1 2 9 6 ,021 3 2 8 ,851 199 ,848 1 5 2 2 ,591 4 0 0 ,817 2 5 7 ,449 1 5 8 7 ,859 4 0 3 ,735 221 ,427 13 14 415,,496 5 5 6 ,209 6 5 0 ,847 7 6 7 ,322 8 6 4 ,325 9 6 2 ,697 15 18 ,383 19 ,459 21 ,361 21 ,040 21,,010 2 2 ,047 16 1 2 4 1 0 ,,284 1 2 9 7 8 ,770 1 3 8 6 0 ,600 1 4 5 2 5 ,705 1 5 3 6 8 ,166 1 5 6 1 7 ,310 (4): 1 2 4 1 0 ,,284 1 2 9 7 8 ,770 1 3 8 6 0 ,,600 1 4 5 2 5 ,705 1 5 3 6 8 ,,166 1 5 6 1 7 ,310 (6) 1 4 1 1 1 ,,254 14966,,893 1 6 0 6 3 ,,010 17015,,003 1 8 1 0 4 ,,516 1 8 5 4 5 ,708 19 20 21 22 23 24 H o u s e h o l d net assets S e c t o r net w o r t h - E q u i t y in n o n c o r p . b u s . - C o r p . e q u i t i e s held ( 7 ) ( 8 ) - P e n s i o n fund r e s e r v e s 7 1 4 6 ,,214 1 2 7 2 6 ,,546 2 2 4 5 ,,791 1681,,480 1653,,061 7 7 9 0 ,286 1 3 7 9 6 ,422 2 2 9 8 ,,363 1845,,548 1862,,225 8 5 1 6 ,,620 1 4 6 3 6 ,,945 2 4 1 4 ,,953 1691,,928 2 0 1 3 ,,444 9 1 3 3 ,,206 15715,,603 2 4 9 2 ,752 1 8 1 5 ,259 2 2 7 4 ,,386 9 8 9 9 ,,251 17291 118 2 6 3 3 ,,542 2 1 3 9 ,,205 2 6 1 9 ,,120 9982 17110 2634 1832 2661 20 25 26 27 Nonfarm noncorp. business Farm business Nonfinancial corps. 1 6 3 3 ,,090 645, 5 2 5 3 3 8 5 ,,703 1707,,711 620,,014 3 4 4 6 ,,551 1811, 7 9 7 638, 4 8 7 3 5 8 3 ,,685 1840,,294 688,,260 3 6 8 3 ,,724 1 9 4 9 ,,235 720,,410 3778, 4 3 3 1 9 1 9 ,973 757,,778 3 9 1 7 ,,414 28 29 30 31 P v t . f i n a n . i n s t . net a s s e t s S e c t o r net w o r t h •Pension fund reserves - C o r p . e q u i t i e s held C 7 ) C 8 ) 1300, 425, 1653, 777, 722 437 061 776 1402,,331 473, 8 5 6 1862,,225 933,,750 1512,,421 497, 411 2013, 444 998,,434 1669, 5 1 9 521, 586 2 2 7 4 ,,386 1126, 4 5 3 1757, 565, 2619, 1427, 187 222 120 155 1 9 6 8 ,,502 656,,193 2661, 251 1 3 4 8 ,,942 39, 2 9 2 50, 0 1 3 54, 670 62, 7 3 3 95, 8 4 0 89, 436 11 U . S . a s s e t s o w n e d by foreigners F g n . dir. i n v e s t , in U . S . U.S. corporate equities Other financial claims o w n e d by f g n . r e s i d e n t s 12 13 14 15 16 + U.S. monetary gold Total consolidated net a s s e t s ( 4 ) 17 8 SDRs 32 net worth, consol. + Foreign corporate stock i n c l u d e d in l i n e s 2 3 8 - Foreign holdings corporate stock 33 31 financial assets 124, 4 5 3 167, 8 1 5 174, 5 1 8 199, 8 4 8 257, 449 221, 427 - 1 4 9 7 , 671 - 6 0 , 394 - 1 4 4 5 , 989 7, 5 7 7 1, 1 3 5 -1727, 102 -52, 430 -1683, 058 7, 1 6 5 I, 2 2 1 -1911, 533 -60, 206 - 1 8 6 0 , 076 7, 4 5 6 1, 2 9 3 - 2 1 2 4 ,,886 -78, 797 - 2 0 5 6 ,,229 8 , 701 1, 4 3 9 -2323, 473 - 9 9 , 932 - 2 2 3 4 , 655 9, 5 4 6 1, 5 6 8 - 2 6 0 6 , 935 -125, 879 - 2 4 9 2 , 120 9, 4 5 4 1, 6 1 0 - 1 1 8 , 138 -143, 219 - 1 7 1 , 029 -227, 297 -251, 268 -189, 472 (1) Located within U.S. geographical boundaries. ( 2 ) E x c l u d e s t a n g i b l e a s s e t s of f e d e r a l a n d s t a t e and l o c a l g o v e r n m e n t s . (3) At c u r r e n t c o s t . (4) Owned by U . S . r e s i d e n t s . (5) Lines 1 9 + 3 2 - 3 3 + 3 4 + 39. (6) Lines 2 0 + 2 5 + 2 6 + 2 7 + 28. ( 7 ) I n c l u d e s h o l d i n g s of f o r e i g n s h a r e s . (8) E x c l u d e s m u t u a l fund s h a r e s . Data are in m i l l i o n s ,041 ,474 ,749 ,433 ,251 18 21 22 23 24 25 26 27 28 29 30 31 of U . S . 34 P u b l i c s e c t o r n e t a s s e t s 35 S t a t e and l o c a l g o v e r n m e n t s 36 U.S. government Sponsored credit agencies 37 Monetary authority 38 39 U n a l l o c a t e d 12 national N a t i o n a l net w o r t h , by s e c t o r 18 T o t a l , a l l s e c t o r s ( 5 ) 19 P r i v a t e 9 10 of d o l l a r s . 34 35 36 37 38 S e p t e m b e r 1991 Net Foreign Assets Net U.S. Year-End and Foreign Assets Year-End Outstandings U.S. -248 68 4 5 6 7 1,001 Net Foreign 1,462 75 972 12,289 944 13,712 708 13,919 2,871 1,175 14,038 3,122 1,390 14,679 3,399 1,459 15,140 3,426 946 664 855 279 279 297 822 49 490 283 992 100 385 507 1,232 92 587 553 80 160 328 538 302 202 817 326 355 136 20 10 Foreign assets owned U.S. residents 1,426 91 2,821 11 35.786 1,446 57 489 36 147 306 9 U.S. 1,462 10 2,800 8 16,004 1,293 942 5,032 2,913 7,995 2,880 12 13 14 36 4,316 74 8,423 69 9,531 58 10,044 119 10,133 177 1,610 10,286 157 10,702 15 16 36 363 32 324 27 406 24 428 26 423 32 413 35 455 36 482 17 9,099 635 20 21 9,438 635 402 7,227 1,174 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 2,480 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 4,468 503 229 317 323 359 18 19 212 Outstandings Assets 937 51 10 Assets 1952 1950 3 Foreign Outstanding 19,782 net foreign assets by U.S. official fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 Bank To To To loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 12 13 14 S e c u r i t y debt Trade debt 15 16 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 U.S.assets owned by foreigners 22 U.S. checkable dep. U.S. time deposits Net interbank claims 23 24 25 26 27 28 29 30 31 32 33 34 309 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U.S. corporate bonds (1) L o a n s to U . S . n o n b a n k b o r r . Open market paper 35 36 104 409 109 405 92 399 70 365 73 321 87 352 84 376 82 417 Security credit Trade credit 35 36 37 38 39 5,312 2,507 2,805 5,417 2,503 2,914 4,034 2,603 1,431 4,086 2,787 1,299 3,837 2,941 896 4,132 3,391 741 4,759 3,658 4,927 3,945 982 Miscellaneous fgn. assets D i r e c t i n v e s t m e n t in U . S . Other 37 38 39 26 27 28 29 30 31 32 33 34 2,100 2,100 280 232 327 58 64 113 144 1,101 C I ) C o r p o r a t e b o n d s I n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d is b e f o r e s u b t r a c t i n g net i n f l o w s of c a p i t a l from N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data are in millions of dollars. S e p t e m b e r 1991 Net Foreign Assets Net 8 Year-End U.S. and Foreign Assets Year-End Outstandings 1953 1954 1955 1956 U.S. 1 U.S. 2 net foreign assets Foreign assets owned U.S. residents 3 4 5 6 7 Foreign corporate equities Credit market instruments Corporate bonds loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Bank To To To 12 13 14 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 15 16 S e c u r i t y debt Trade debt 17 18 19 20 21 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 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 (1) L o a n s to U . S . n o n b a n k b o r r . Open market paper 35 36 Security credit Trade credit 37 38 39 Miscellaneous fgn. assets D i r e c t i n v e s t m e n t in U . S . Other Net are in millions of Foreign 1957 Outstandings 1958 1959 1960 Assets 17, 2 1 0 16. 3 5 4 17,,142 20: 397 24, 8 7 4 2 5 ,,991 2 5 ,,676 2 8 ,,659 1 38, 021 4 0 ,,283 4 3 ,,049 49, 005 5 3 ,,608 5 8 ,,383 62,,606 67,,514 2 1, 3 6 7 114 1,,185 158 1 ,044 , 129 1, 6 0 8 138 1 ,975 131 958 149 1,,997 132 1,,555 148 3 4 2 • 439 16 •5 7 9 3,,071 2, 6 2 5 17,, 4 4 6 3, 3 8 1 2 ,233 18 , 7 6 3 3 ,816 3,,095 2 0 ,,765 4,, 7 3 4 3 ,689 2 1 ,436 5 ,207 3 ,984 2 3 ,215 5 ,784 5 6 7 1,,413 427 458 528 1,,789 500 579 710 2,,106 678 569 859 2,, 6 4 7 892 656 1,,099 2 ,861 888 722 1 ,251 3 ,010 861 765 1 ,384 8 9 10 11 1,, 3 2 9 16 1• 2 6 8 3 ,3 1 4 1, 8 6 8 16 ,554 3 ,2 6 4 727 223 266 238 1,,196 422 449 325 197 12 ,030 271 11 , 8 2 3 310 11 ,785 477 11 ,799 688 12 , 1 5 3 612 12,, 7 7 2 558 12 , 8 1 0 1 ,193 13,,228 12 13 14 36 463 66 532 66 586 60 728 60 816 77 794 87 877 84 1 ,641 15 16 18 ,444 635 305 16 ,253 1 ,251 19 , 9 2 0 635 412 17 ,631 1 ,242 2 2 ,206 635 723 19 , 3 9 5 1 ,453 2 6 ,400 670 1,,266 2 2 ,, 5 0 5 1,,959 2 9 ,630 670 1 ,845 2 5 ,394 1 ,721 31,,545 670 2,,139 2 7 ,,409 1,, 3 2 7 3 4 ,388 670 2 ,382 2 9 ,827 1 ,509 3 6 ,887 17 8 2 4 18 2 ,910 19 31 ,865 2 0 1 ,288 21 2 0 ,811 2 3 ,929 25 ,907 2 8 ,608 2 8 ,734 32,, 3 9 2 36,,930 3 8 ,855 1 ,532 2 ,799 1 ,846 1,,753 2 ,657 ,196 2 • 2 ,102 2 ,533 1 ,959 2,,006 3,,414 2,,111 2,,140 2 ,575 2,, 1 3 2 6 6 5 5 ,575 ,676 ,803 ,803 6 ,961 7 ,261 6,,089 6 ,089 6 7 5 5 - 1 ,498 2 ,408 1 ,682 1 ,708 2 ,900 1 ,729 3,,650 5 ,810 5 ,035 5 ,035 5 6 5 5 - - dollars. - - - - - 22 2,,122 2 3 2,,859 2 4 2 ,960 2 5 374 380 434 501 ,091 ,475 ,930 , 124 806 591 401 584 439 671 954 843 757 26 9 ,302 2 7 12,,610 2 8 10,,651 2 9 8,,609 3 0 2,,042 31 668 32 33 1,,291 3 4 76 367 101 329 84 374 86 481 92 566 119 500 107 664 112 787 35 36 5 ,320 4 ,251 1 ,069 5 ,478 4 ,633 845 6 ,021 5 ,076 945 7,, 2 1 3 5 ,459 1 ,754 7 ,916 5 ,710 2 ,206 8,, 4 1 4 6 ,115 2,, 2 9 9 8 ,243 6,,604 1,,639 8 ,103 6 ,910 1,,193 37 38 39 ,254 ,430 ,466 ,466 (1) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d i s b e f o r e s u b t r a c t i n g n e t i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data Assets by U.S. official fgn. exchange & net IMF p o s i t i o n U.S. private deposits 22 Foreign Outstanding 8,,305 7 ,523 6 ,035 4 ,429 1 ,606 , 645 9 11 10 7 2 ,363 ,706 ,360 ,954 ,406 589 S e p t e m b e r 1991 Net Foreign Assets Net U.S. Year-End and Foreign Assets Outstanding 1962 1963 1964 U.S. Net 1965 Foreign 1966 1967 1968 31, 041 34, 793 35, 931 41, 666 46, 569 51, 629 43, 397 44, 680 2 74, 5 1 7 78, 8 3 6 85, 556 96, 791 1 0 3 ,.882 110, 319 121, 158 132, 4 2 0 3 4 1,.806 236 1, 1 6 3 790 1, 2 4 7 731 1, 2 0 1 1, 0 9 7 1, 6 4 4 781 1, 6 4 7 885 2, 7 6 5 1, 0 5 5 4, 8 1 8 1, 5 8 7 5 6 7 4,,902 251,456 6,,221 4,,714 2 7 i,544 7,,215 5, 145 3 0 ,.794 8, 2 0 8 5, 2 7 0 34, 9 9 5 8, 675 5,,048 3 7 ,- 4 5 2 9,,135 4, 3 2 4 3 9 ,.454 9,,870 5, 2 3 8 43, 337 11,.086 6, 4 5 2 4 6 ,.063 12, 1 7 0 8 9 10 11 3 ,740 988 1 ,013 1 ,739 ,153 ,033 ,246 ,874 4,,785 914 1,, 4 1 2 2,,459 6,,512 939 1,,968 3,,605 7,,101 1 ,064 • 2,,118 3 ,919 7,,051 960 2,,249 3,, 8 4 2 6, 6 9 5 975 1,,847 3,,873 6,,296 774 1,,907 3,,615 12 13 14 1 ,788 13 , 7 0 7 1 ,752 14 , 4 2 4 2 ,225 15 , 5 7 6 2:,621 17,,187 2 ,501 18 , 7 1 5 2,,540 19 ,993 3,,013 2 2 ,,543 2,,854 2 4 ,,743 15 16 121 1 ,710 85 2 ,219 108 1 ,841 91 2,,606 119 2 ,550 128 2 ,883 298 3,,398 508 3,, 7 9 7 17 18 19 20 21 40 ,286 995 3 ,171 34 ,717 1 ,403 42 1 3 37 ,321 ,117 ,416 ,276 512 4 5 ,690 1 ,=1 7 9 3;, 8 6 3 4 0 ,736 -88 ,531 51 ! 1 ,229 = 3 ,882 44 ,480 1 ,940 56 1 3 49 1 ,998 ,290 ,163 ,007 ,538 65 ,067 1,,373 3 ,953 5 5 ,329 4 ,412 69 1 3 58 5 22 4 3 ,476 44 ,043 4 9 ,625 55 ,125 5 7 ,313 5 8 ,690 7 7 ,761 8 7 ,740 5 ,290 7 ,679 7 ,259 5 ,851 7 ,409 9 ,404 3 ,098 2 ,911 3 ,087 23 24 25 3 ,233 3 ,409 2 ,981 3 ,499 4 ,260 3 ,233 4 ,458 5 ,515 3 ,717 Outstandings Assets 1 4 1 1 1 Assets 9 Year-End Outstandings 1961 Foreign ,288 ,290 ,898 ,283 ,817 60 1 4 51 4 4 ,583 6 ,081 3 ,830 4 ,963 6 ,413 6 ,693 ,599 ,194 ,400 ,357 ,043 812 12 , 6 4 3 16 , 4 7 6 12 , 8 3 2 9 ,830 3 ,002 1 ,432 ,195 ,510 ,890 ,547 ,248 - U.S. net foreign assets Foreign assets owned U.S. residents 1 by 2 U.S. official fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 12 13 14 Bank To To To Security debt Trade debt 15 16 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 U.S.assets owned by foreigners U.S. checkable dep. U.S. time deposits Net interbank claims 22 23 24 25 1 ,360 1 ,387 1 ,437 1 ,620 1 ,982 2 ,212 2 ,247 2 ,826 26 Security RPs U.S. corporate equities 27 28 Credit market instruments U.S. government securities 29 30 Official holdings 31 Private holdings U.S. corporate bonds (1) 32 L o a n s to U . S . n o n b a n k b o r r . 33 34 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 D i r e c t i n v e s t m e n t in U . S . Other 37 38 39 26 27 28 29 30 31 32 33 34 11 13 11 8 2 ,808 ,064 ,035 ,842 ,193 669 10 14 12 10 2 ,336 ,796 ,715 ,251 ,464 694 12 15 13 11 2 ,485 ,893 ,705 ,066 ,639 751 13 16 14 11 2 ,835 ,908 ,329 ,498 ,831 959 14 17 14 11 3 25 18 15 12 3 1 ,511 ,806 ,255 ,091 ,164 ,304 29 19 14 11 3 1 ,517 ,246 ,929 ,322 ,607 ,491 C I ) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d i s b e f o r e s u b t r a c t i n g n e t i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data are in millions of dollars. S e p t e m b e r 1991 Net Foreign Assets Net U.S. and Foreign Assets Foreign Year-End U.S. 1 U.S. net foreign assets 2 Foreign assets owned U.S. residents U.S. official fgn. exchange 8 net IMF p o s i t i o n 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 A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 15 16 S e c u r i t y debt Trade debt 17 18 19 20 21 M i s c e l l a n e o u s U.S. assets U . S . e q . in I B R D , e t c . 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. c o r p o r a t e bonds (1) L o a n s to U . S . n o n b a n k b o r r . Open market paper 35 36 Security credit Trade credit 37 38 39 Miscellaneous fgn. assets D i r e c t i n v e s t m e n t in U . S . Other Net are in millions of dollars. Assets 31,,799 22,,081 32,, 2 9 6 4 2 ,818 6 0 ,264 72,,006 1 141 ,,475 147,,041 1 5 9 ,171 1 7 3 ,666 190,, 2 6 2 2 1 5 ,596 2 4 4 ,084 2 8 3 ,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 4 9 ,,245 13,,198 6,,573 5 2 ,,051 14 , 0 7 2 7 ,641 5 6 ,573 15 , 0 1 2 10 , 5 3 7 61 , 1 2 0 16 , 0 4 2 10,,026 67,,416 17,, 0 0 0 9 ,011 8 1 ,234 19,, 3 7 2 9 ,585 95 ,555 2 6 ,540 9 ,453 116 ,022 35 ,070 5 6 7 6 ,029 765 2 ,095 3 ,169 5 ,824 623 2,,031 3,,170 7 ,291 806 2., 3 7 2 4 ,113 ,389 ,002 ,528 ,859 13,, 1 0 4 1,, 4 4 0 5 , 128 6 ,536 17 , 7 6 0 1,, 7 0 5 8 ,244 7 ,811 21 1 9 10 ,395 ,855 ,534 ,006 8 9 10 11 3 ,169 2 6 ,849 3,,968 2 8 ,, 1 8 7 4 ,270 30 ,000 3 ,226 31 , 4 6 3 4 , 156 33,,156 181 11 , 2 3 7 3 2 ,684 559 11 , 1 4 7 35 ,690 1 ,282 12 , 3 5 8 38 ,917 12 13 14 278 4 ,618 279 5 ,581 314 6 ,107 405 6 ,574 231 8 ,451 193 11,, 5 3 7 319 12 , 2 0 2 12 ,519 ,103 ,694 ,801 ,704 ,904 7 9 ,195 1,,929 3,, 8 1 7 7 0 ,269 3,, 1 8 0 94 ,084 9 8 ,968 127 ,372 6 ,175 8 ,789 16 , 8 4 4 6 ,696 7,,125 10,,456 6 ,503 7 ,454 5 ,846 26 18 12 8 3 2 ,761 ,775 ,928 ,979 ,949 ,027 2 7 ,,209 2 9 ,749 2 2 ,, 7 4 4 18 , 4 1 8 4 ,326 2 ,698 3 ,820 4 ,307 4 ,148 434 5 ,830 349 7 ,388 311 7 ,245 10 ,476 11 , 8 1 8 - 1 ,342 9 ,996 13 , 2 7 0 - 3 ,274 12 , 7 2 7 13 , 9 1 4 - 1 ,187 10 1 3 5 „ 74 1 3 63 4 86 2 3 76 4 30 56 49 44 4 2 ,437 ,181 ,635 ,388 ,233 ,811 • 475 ,337 ,988 ,349 ,990 ,619 ,964 ,335 ,320 28 2 13 12 - 15 16 ,249 ,799 ,072 ,715 ,663 106,,818 3 ,445 3,,531 100,, 3 6 4 -522 1 1 8 ,359 4 ,119 1,,995 114,, 1 4 0 - 1 ,895 133,,730 17 5 ,207 18 1,,870 19 1 2 6 ,583 2 0 7 0 21 151 , 5 8 5 157 ,966 172 ,778 1 8 3 ,820 2 1 1 ,913 8 ,270 10 , 5 8 0 6 ,787 11 , 1 6 5 13 , 3 9 2 1 ,597 13 ,991 21 , 123 362 13 ,675 2 2 ,579 - 9 ,,497 4 ,086 500 3 3 ,516 65 ,100 5 7 ,551 5 4 ,099 3 ,452 3,, 1 3 0 32 4 ,387 525 2 4 ,221 70,, 0 8 4 61,,051 5 8 ,,271 2,,780 3,,980 253 4,,800 450 35,,313 77,,991 6 7 ,793 63,,553 4,,240 4 ,573 325 5 ,300 375 42,,949 91,,156 79, 5 9 8 72,,572 7,,026 5,,463 495 5,,600 26 27 28 29 30 31 32 33 34 366 8 ,242 333 10 , 2 1 4 293 12,,360 364 14 , 8 2 7 18,,894 35 36 13 , 4 7 8 14 , 8 6 8 - 1 ,390 2 2 ,149 2 0 ,556 1 ,593 2 9 ,,819 2 5 ,144 4,, 6 7 5 2 8 ,118 2 7 ,, 6 6 2 456 36,,436 30 ,770 5,,666 37 38 39 92 2 3 81 4 39 64 57 53 4 3 (1) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d i s b e f o r e s u b t r a c t i n g n e t i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data Foreign Outstandings 4 8 ,,073 4 7 ,> 3 9 1 by 3 4 Assets Outstanding ,152 • 451 ,469 ,503 ,729 ,059 ,803 ,656 ,458 ,198 ,061 100 2 4 91 1 22 16,,870 2 3 20,,680 2 4 - 1 5 ,,447 2 5 S e p t e m b e r 1991 Net Foreign Assets Net U.S. Year-End and Foreign Assets 1978 1979 1980 U.S. Net 1981 Foreign 1982 1983 1984 Outstandings Assets 1 5 7 ,596 61 , 5 9 4 8 2 ,141 91 , 3 3 3 124 ,955 121 ,986 75 ,525 - 1 9 ,810 U.S. 2 3 0 5 ,473 371 ,780 4 2 8 ,439 4 9 2 ,367 5 3 8 ,318 5 5 4 ,281 5 7 5 ,132 5 6 9 ,952 Foreign assets owned U.S. residents 3 4 4 ,969 8 ,756 5 ,421 17 ,131 5 ,060 2 6 ,913 12 , 9 8 6 31 , 3 9 2 14 , 8 2 9 41 ,811 17 , 5 6 0 4 6 ,312 17 ,601 4 7 ,591 18 ,197 41 ,806 5 6 7 10 , 1 1 0 129 ,422 4 0 ,121 11 , 2 3 6 1 5 7 ,619 4 4 ,098 14 ,834 172 ,917 4 7 ,799 19 , 1 6 6 197 ,217 4 9 ,001 17 ,360 2 2 0 ,655 54 ,488 18 , 5 6 8 2 1 0 ,404 61 , 1 0 2 2 5 ,864 2 2 7 ,714 64 ,182 2 7 ,017 2 3 5 ,489 67 ,994 49 5 25 19 ,449 ,937 ,184 ,328 ,940 ,167 ,707 ,066 52 7 21 24 ,994 ,307 ,622 ,065 64 11 26 26 ,774 ,851 ,300 ,623 Assets li Year-End Outstandings 1977 Foreign Outstanding 67 12 21 33 ,801 ,621 ,837 ,343 33 5 15 13 ,785 ,435 ,055 ,295 37 8 14 14 ,408 ,475 ,151 ,782 30 7 11 12 ,791 ,602 ,004 ,185 net foreign assets 1 by 2 U.S. official fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits 3 4 Foreign corporate equities Credit market instruments Corporate bonds 5 6 7 loans n.e.c. foreign official foreign banks other foreign 8 9 10 11 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 12 13 14 Bank To To To 8 9 10 11 31 2 16 12 12 13 14 1 ,847 14 , 2 1 2 4 1 ,793 2 ,880 15 , 0 3 0 4 5 ,671 4 ,553 18 , 6 2 3 4 8 ,948 6 ,955 2 2 ,714 5 3 ,773 10 ,829 2 9 ,636 5 7 ,901 15 ,054 3 8 ,153 62,,310 2 1 ,540 3 8 ,031 6 6 ,553 2 7 ,721 39 ,000 69 ,983 15 16 13,,018 18 , 0 4 5 2 0 ,223 2 5 ,583 2 6 ,264 2 2 ,,356 2 1 ,413 19 , 7 8 0 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 7 1 178 ,399 ,300 ,476 ,826 ,203 2 3 9 ,081 10,,574 1,,700 2 1 3 ,347 13 ,460 234 11 1 215 6 ,949 ,261 ,677 ,934 ,077 2 2 7 ,663 12 , 9 0 0 2 ,012 ,941 - 9 ,, 1 9 0 22 2 4 7 ,877 3 1 0 ,186 3 4 6 ,298 4 0 1 ,034 4 1 3 ,363 4 3 2 ,,295 4 9 9 ,607 5 8 9 ,762 23 24 25 19 ,270 21,,006 - 1 6 ,,367 19,, 0 2 2 2 2 ,151 - 9 ,,955 2 3 ,445 2 4 ,607 9 ,469 2 3 ,, 4 6 2 2 5 ,,821 - 1 7 ,,119 19,, 6 7 7 2 8 ,091 - 5 4 ,,954 16,,017 34,,904 - 8 7 ,,930 17 ,494 3 5 ,418 - 7 5 ,461 19,, 5 4 2 39,,978 - 7 3 ,, 1 7 7 U.S. checkable dep. U.S. time deposits Net interbank claims 23 24 25 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,, 9 9 2 138,,429 128,,511 9,,918 11,,197 901 6 ,465 4,, 1 1 3 4 8 ,318 147,, 0 6 7 121,, 9 4 0 106,, 6 4 0 15 , 3 0 0 13,, 8 2 7 2,, 8 8 8 8 ,412 4,,395 63,,444 171,,268 135,,750 118,,189 17,,561 2 1 ,,985 4,,199 9,, 3 3 4 4,,404 63,,266 1 9 6 ,,884 1 4 5 ,,337 1 2 5 ,,130 2 0 ,,207 30,,411 13,,095 8 ,041 5, 9 8 6 75,, 1 5 4 2 2 3 ,• 1 7 3 160,.253 132, 5 8 7 2 7 ,.666 4 0 ,,979 15, 6 1 2 6,.329 6,,468 95,,232 2 4 4 ,,130 173, 1 7 6 136,,987 36,,189 4 5 ,-543 18,.290 7,,121 6,,567 94, 9 3 1 310, 2 4 8 2 1 0 ,,281 144, 6 6 5 65, 6 1 6 60,• 3 5 7 31, 3 3 9 8 ,.271 Security RPs U.S. corporate equities Credit market instruments U.S. government securities Official holdings Private holdings U . S . c o r p o r a t e b o n d s (1) L o a n s to U . S . n o n b a n k b o r r . Open market paper 26 27 28 29 30 31 32 33 34 35 36 20,,767 24,,896 2 5 ,, 1 5 0 2 8 ,,648 2 8 ,,441 2 8 ,,474 2 7 ,,124 28, 631 Security credit Trade credit 35 36 37 38 39 33,,869 34 ,595 -726 52,,557 4 2 ,471 10,,086 64,, 1 2 9 5 4 ,, 4 6 2 9,, 6 6 7 101,,115 8 3 ,046 18,,069 1 2 7 ,,554 1 0 8 ,,714 18,,840 136,,517 124,,677 11,,840 149,,202 137,,059 12,,143 163, 0 4 2 164, 581 -1, 539 Miscellaneous fgn. assets D i r e c t i n v e s t m e n t in U . S . Other 37 38 39 ,492 ,529 ,946 ,240 777 206 8 1 208 -12 ,023 ,250 ,745 ,467 ,439 217 9 1 224 -18 S e c u r i t y debt Trade debt 15 16 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 17 18 19 20 21 U.S.assets owned by foreigners CI ) C o r p o r a t e b o n d s i n c l u d e n e t is.sues b y N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d i s b e f o r e s u b t r a c t i n g n e t i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data are in millions of dollars. 22 S e p t e m b e r 1991 Net Foreign Assets Net U.S. 12 Year-End and Foreign Assets Year-End Outstandings 1985 1986 1987 1988 U.S. 1 U.S. 2 net foreign assets Foreign assets owned U.S. residents Net Foreign 1989 3 4 5 6 7 Foreign corporate equities Credit market instruments Corporate bonds 1990 Assets - 1 3 7 , 644 - 2 9 3 , 737 -402, 044 -549, 742 — 670, 094 -645, 227 586, 918 650, 699 695, 109 746, 2 7 9 852, 497 9 4 2 ,.632 24, 8 0 8 3 7 ,-871 29, 058 46, 940 24, 4 3 9 45, 945 27, 108 42, 8 1 6 53, 599 43, 934 61,,293 5 1 ,,668 39,- 2 9 2 2 3 6 ,,676 71,,787 50, 013 238, 323 74, 9 0 5 5 4 ,.670 244, 562 8 2 ,.286 62, 733 2 5 3 ,.885 8 9 ,.222 95, 8 4 0 2 6 1 ,5 4 1 94, 5 0 6 8 9 ,.436 284, 8 8 7 116,.063 by U.S. official fgn. exchange 8 net IMF p o s i t i o n U.S. private deposits 8 9 10 11 Bank To To To loans n.e.c. foreign official foreign banks other foreign 2 7 ,,945 6 , ,193 9,,663 12 ,089 26, 6, 10, 10, 915 178 699 038 2 3 ,,309 5,,266 7,,821 10,,222 2 1 ,,509 4, 7 6 4 7,,821 8,,924 21, 367 3, 3 5 1 8 ,.568 9,,448 18, 5 0 2 2,,811 5, 8 9 2 9,,799 12 13 14 Commercial paper A c c e p t a n c e l i a b s . to b a n k s U.S. government loans 3 3 ,923 31 ,649 71 , 3 7 2 37, 4 0 7 2 6 ,,273 72,,823 4 1 ,,245 2 7 ,253 7 0 ,469 4 9 ,943 2 4 ,879 6 8 ,332 63- 0 2 2 19, 5 6 0 63,,086 7 5 ,346 16 , 3 4 8 5 8 ,628 - 15 16 Security debt Trade debt 17 18 19 20 21 Miscellaneous U.S. assets U . S . e q . in I B R D , e t c . U.S. government deposits U.S. dir. inv. abroad (1) Other 17 ,399 19 , 1 7 8 2 8 ,018 2 8 ,,749 34,,371 ,624 ,442 ,862 ,671 ,351 2 6 8 ,966 15 ,924 851 2 6 2 ,353 - 1 0 ,162 3 0 6 ,315 17 , 1 5 9 941 3 1 3 ,012 - 2 4 ,797 3 3 1 ,719 19 , 5 5 9 680 3 2 9 ,478 - 1 7 ,998 3 6 8 ,,834 2 0 ,,732 529 3 6 3 ,304 - 1 5 ,,731 4 2 0 ,977 2 2 ,033 548 4 0 6 ,646 - 8 ,250 1097 , 153 1 2 9 6 ,021 1 5 2 2 ,591 1 5 8 7 ,859 21 ,823 4 5 ,006 5 ,089 21 ,590 4 3 ,096 - 2 ,, 4 5 3 21 ,284 4 2 ,560 2 2 ,176 228 14 1 237 -25 - 7 2 4 ,562 9 4 4 ,436 U.S. checkable dep. U.S. time deposits Net interbank claims 21 ,107 4 3 ,686 - 5 8 ,630 2 3 ,786 41 ,027 - 4 5 ,891 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) L o a n s to U . S . n o n b a n k b o r r . Open market paper 7 124 379 241 145 96 97 32 8 35 36 Security credit Trade credit 37 38 39 Miscellaneous fgn. assets D i r e c t i n v e s t m e n t in U . S . Other U.S.assets owned by foreigners - 19 , 6 4 7 23 24 25 22 ,326 ,453 ,516 ,448 ,063 ,385 ,068 ,881 ,119 - 10 167 482 291 178 112 137 43 9 ,676 ,815 ,757 ,870 ,915 ,955 ,759 ,948 ,180 - 2 2 ,383 41 ,952 - 1 ,769 12 174 535 323 220 102 156 45 9 ,902 ,518 ,539 ,487 ,548 ,939 ,760 ,845 ,447 14 199 628 387 260 126 175 56 8 are in millions of dollars. ,000 ,848 ,549 ,572 ,934 ,638 ,332 ,856 ,789 17 257 700 432 262 170 188 69 9 ,337 ,449 ,647 ,952 ,650 ,302 ,266 ,848 ,581 18 221 760 475 296 179 194 83 7 ,270 ,427 ,353 ,458 ,005 ,453 ,134 ,265 ,496 2 9 ,158 33 ,067 33 ,265 36 ,163 37 ,433 43 ,574 177 ,946 184 ,613 - 6 ,667 2 3 1 ,199 2 2 0 ,412 10 ,787 2 7 8 ,363 271 ,788 6 ,575 345 ,543 3 2 8 ,851 16 , 6 9 2 4 4 7 ,492 4 0 0 ,817 4 6 ,675 4 5 8 ,215 4 0 3 ,735 54 ,480 (1) C o r p o r a t e b o n d s i n c l u d e net i s s u e s by N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s ; U . S . d i r e c t i n v e s t m e n t a b r o a d i s b e f o r e s u b t r a c t i n g n e t i n f l o w s of c a p i t a l f r o m N e t h e r l a n d s A n t i l l e s s u b s i d i a r i e s to U . S . p a r e n t s . Data Foreign Assets Outstanding Outstandings S e p t e m b e r 1991 Tangible Asset Tangible Holdings Distribution Year-End 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 of Tangible Assets by 745, 438 258, 429 101, 394 152, 572 229, 592 3,,451 856, 988 305, 993 122, 739 1 6 5 =4 2 0 259, 005 3, 8 3 1 952,.609 346, 847 136, 402 175, 759 289, 286 4,.315 11 00 00 00 ,, 3 3 44 373, 694 136, 859 179, 962 305, 321 4, 498 171, 237 1 0 =0 3 6 1 1 =9 1 8 22, 884 1 2 3 =. 6 0 8 2 =, 7 9 1 192, 256 10, 8 5 5 14,.536 25, 727 138, 129 3, 009 203,.761 H i ,291 16,,462 26,,796 146,,138 3,, 0 7 4 226, 903 12, 957 19,,007 30, 090 161 , 446 3,, 4 0 3 251,,838 14,, 8 0 6 21 ,440 33,,166 178,,604 3,, 8 2 2 22 66 77 ,> 00 7 44 15, 790 22, 750 34,.122 190, 438 3,, 9 7 4 P l a n t and equipment (1) Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 7 8 9 10 11 12 190, 528 104,-520 4,,304 15,, 1 9 1 62 ,581 3 ,932 210,,672 119,,611 4,, 5 0 4 16 , 2 6 6 66 , 0 7 2 4 ,219 223,,263 129,,997 4 ,573 16 ,841 67 , 4 6 7 4 ,385 249,,242 150,,019 4,,816 17,, 9 3 7 71 , 7 4 5 4 ,725 273 168 5 18 75 4 ,009 ,748 ,029 ,854 ,397 ,981 2 % 2 88 88 ,. 1155% 182,,250 5,, 0 7 7 19,, 1 2 1 76 ,636 5 ,069 R e s i d e n t i a l s t r u c t u r e s CI) Households: owner-occupants Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Real estate invest, trusts 13 14 15 16 17 18 19 ,084 ,664 ,033 ,387 96 ,135 ,454 13 , 4 6 2 60 ,219 108 24 14 69 ,823 ,908 ,215 ,700 108 23 13 70 86 ,566 108 , 1 8 9 124 ,415 1 1 33 33 ,, 99 88 99 176 30 63 50 32 194 33 71 52 36 203 36 71 55 39 553, 287 167, 369 92, 887 121. 767 168, 284 2.,980 648, 204, 100, 138, 201, 3, 114, 511 6,, 4 4 9 7,, 0 3 7 14,, 6 0 9 83 ,814 2 ,602 140,.749 8,,230 9 ,003 18 , 4 6 6 102 ,366 2 ,684 135 70 3 11 48 2 ,966 ,169 ,343 ,393 ,088 ,973 160 85 3 13 54 3 ,323 ,075 ,807 , 158 ,867 ,416 49 14 6 28 ,870 , 145 ,913 ,812 68 19 8 40 ,938 ,639 ,889 ,410 649 996 571 660 302 120 714, 235, 103, 149, 223, 3, 19 21 26 27 28 29 30 116 14 46 36 19 ,846 ,086 ,014 ,608 ,856 282 79 21 10 48 130 17 51 39 ,106 ,086 ,087 ,545 ,092 296 ,877 ,038 ,362 ,477 65 , 1 2 9 53 ,171 46 ,210 25 Outstandings 868 189 332 067 906 374 403 257 589 218 455 884 20 Holdings 13 Year-End Outstandings 463, 140, 78, 106, 135, 2, Asset Sector 141 21 52 42 25 ,878 ,007 ,424 ,833 ,285 329 85 19 11 53 ,122 ,304 ,999 ,819 76 , 2 5 4 150 23 53 45 27 ,564 ,965 ,226 ,269 ,739 365 77 16 11 49 154 26 51 47 29 ,764 ,002 ,427 ,276 ,682 377 ,519 ,012 ,341 ,123 ,615 428 ,524 ,849 ,200 ,981 ,001 493 ,003 ,307 ,882 ,814 ,115 ,588 ,681 ,322 ,000 524 T o t a l h o l d i n g s of t a n g i b l e s Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonfinancial corporations Consumer durables 1 2 3 4 5 6 20 21 22 23 (households) 24 25 Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 26 27 28 29 30 Memo: 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 3,087 643,780 238,260 100,009 149,37C 152,984 3,151 Total real estate Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfarm nonfin. corporations Private finan. institutions ( 1 ) At ( 2 ) At Data are in m i l l i o n s of dollars. current cost. year-end prices. 31 32 33 34 35 36 S e p t e m b e r 1991 Tangible Asset Tangible Holdings 14 Year-End Distribution of Tangible Assets by Asset Holdings Sector Year-End Outstandings Outstandings 1955 1953 1533, 8 7 6 611, 811 178, 4 1 8 240- 944 493, 127 9, 5 7 6 1044 397 134 184 322 4 ,332 ,837 ,811 ,512 ,329 ,843 1 0 9 0 ,,682 422, 088 137,.732 189,,980 3 3 5 ,,663 5,,219 1 1 7 6 ,, 8 3 2 4 6 0 ,,448 1 4 2 ,431 2 0 0 ,, 6 5 7 3 6 7 ,243 6,,053 1 2 8 3 ,,638 5 0 4 ,,056 150 569 2 1 1 ,, 8 7 2 4 1 0 ,, 1 5 0 6,,991 1 3 5 1 ,, 7 8 2 5 2 6 ,747 158 ,662 2 1 9 ,, 2 9 6 4 3 9 ,428 7,,649 1 4 0 8 ,, 2 5 2 5 5 1 ,.987 169,,340 2 2 5 ,664 4 5 3 ,,054 8 ,207 1 4 7 6 ,,172 581, 117 175,,951 233, 370 4 7 6 ,,794 8,,940 7 P l a n t and e q u i p m e n t ( 1 ) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corporations 12 Financial institutions 280 16 23 35 201 4 ,890 ,502 ,365 ,264 ,519 ,240 2 9 3 ,,079 17,,577 2 3 ,,670 3 6 .426 2 1 0 ,,906 4 ,500 3 1 9 ,,968 19 ,639 2 4 ,810 4 0 ,303 2 3 0 ,029 5 ,187 3 5 5 ,916 2 2 ,,090 2 5 ,902 4 4 ,579 2 5 7 ,416 5 ,929 3 8 0 ,, 6 6 7 2 3 .677 2 6 ,371 4 6 ,993 2 7 7 ,,239 6 ,387 3 9 2 ,,660 2 5 ,,029 2 6 ,867 4 8 ,120 2 8 5 ,911 6,, 7 3 3 4 0 9 ,.015 2 6 ,,594 2 7 ,487 5 0 ,098 2 9 7 ,578 7 ,258 420, 382 7 2 8 ,, 1 4 8 8 9 2 7 ,,590 5 1 ,,270 10 305,,685 11 7 ,689 12 13 R e s i d e n t i a l s t r u c t u r e s ( 1 ) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest, trusts 300 194 5 19 77 5 ,579 ,135 ,099 ,151 ,081 ,113 317 209 5 19 78 5 ,852 ,632 ,193 ,342 ,479 ,206 342 231 5 19 81 5 ,427 ,005 ,369 ,639 ,055 ,359 361 248 5 19 82 5 20 21 22 23 Inventories (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 1 0 9 ,088 ,000 14 ,378 72 ,710 106 21 14 71 ,734 ,200 ,276 ,258 113 19 15 78 ,975 ,900 ,155 ,920 24 Consumer 1 4 2 ,973 147 ,080 1 5 7 ,315 1 T o t a l h o l d i n g s of t a n g i b l e s 2 Households&nonprofit insts. 3 Farm business 4 Nonfarm noncorp. business Nonfinancial corporations 5 6 Financial institutions durables (households) 2 5 L a n d at m a r k e t v a l u e 26 HouseholdsSnonprofit insts. 27 Farm business 28 Nonfarm noncorp. business 29 Nonfinancial corporations 30 Financial institutions 210 39 70 57 42 ,802 ,128 ,295 ,789 ,987 603 225 42 73 60 48 ,937 ,606 ,520 ,799 ,293 719 243 47 78 64 52 ,147 ,120 ,082 ,144 ,935 866 669 253 98 152 161 3 ,316 ,208 ,871 ,559 ,351 ,327 7 0 7 ,629 2 7 3 ,,181 102, 5 4 0 157,,556 170,,748 3,,604 764 301 108 165 185 4 066 084 171 439 168 204 ,455 ,335 ,626 ,610 ,342 ,542 390 275 5 19 84 5 ,946 ,396 ,801 ,437 ,562 ,750 409 291 6 19 86 6 ,688 ,490 ,035 ,382 ,705 ,076 425 305 6 19 88 6 122, 7 4 5 19,.900 15, 8 9 0 8 6 ,,955 126, 341 2 1 ,,200 16,,370 8 8 ,,771 126 22 16 86 ,259 ,600 ,886 ,773 131 22 16 92 ,714 ,100 ,881 ,733 135 ,508 2 0 23,,300 21 16,,618 2 2 9 5 ,590 2 3 171,, 8 7 7 176,,175 181,, 9 6 2 ,660 ,279 ,517 ,759 ,643 ,462 375 261 5 19 83 5 ,962 ,663 ,241 ,235 ,475 ,348 1 2 3 4 5 6 13 14 15 16 17 18 1 8 9 ,009 193,,656 24 ,746 ,989 ,982 ,686 ,407 ,682 3 5 8 ,368 7 8 ,103 1 0 8 ,293 8 4 ,581 8 5 ,504 1,,887 25 26 27 28 29 30 1 0 1 2 ,,184 4 1 4 ,,964 139,,693 199,,566 2 5 1 ,,107 6 ,854 31 32 33 34 35 36 2 7 1 ,,440 5 6 ,,293 8 5 ,008 68 ,760 6 0 ,317 1 ,062 2 9 3 ,144 5 9 ,934 ,481 91 , 7 2 ,591 6 7 ,876 1,, 2 6 2 316 63 100 76 74 1 ,425 ,799 ,436 ,096 ,620 ,474 336 67 106 79 80 1 830 329 116 173 205 4 8 7 7 ,361 3 4 7 ,998 122,,708 179,,663 2 2 1 ,, 6 5 2 5,,340 922 367 131 185 232 5 ,170 ,230 ,529 ,217 ,381 ,813 9 6 9 ,,113 3 8 9 ,,081 138, 3 6 0 1 9 2 ,,072 2 4 3 ,,248 6,,352 Memo: 31 T o t a l r e a l e s t a t e Households&nonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Private finan. institutions 36 (1) At ( 2 ) At Data current cost. year-end prices. are in millions of dollars. ,752 ,852 ,116 ,945 ,974 ,865 S e p t e m b e r 1991 Tangible Asset Tangible Holdings Distribution Year-End of Tangible Assets by Asset Holdings 15 Sector Year-End Outstandings 2438 1002 262 361 789 22 Outstandings ,517 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. ,422 Farm business ,714 Nonfarm noncorp. business ,384 Nonfinancial corporations ,688 ,309 Financial institutions 1 2 3 4 5 6 1 5 8 5 1 >530 633, 963 184,• 9 6 2 2 4 7 ,,608 5 0 8 ,,703 10,,294 1 6 4 7 ,,147 6 5 9 ,,496 192,,244 2 5 7 ,,071 5 2 6 ,, 9 9 2 11,, 3 4 4 1 7 1 1 ,, 2 2 4 684, 8 8 5 2 0 1 ,,468 2 6 5 ,, 3 7 7 5 4 7 ,,273 12,,221 1 8 0 6 ,,433 7 2 7 ,, 0 8 2 2 0 9 ,, 9 6 4 2 7 9 ,,761 575, 931 13,,695 1 9 2 0 ,,660 7 6 6 ,,263 2 2 6 ,785 2 9 4 ,,810 6 1 7 ,,310 15,, 4 9 2 2 0 9 6 ,,101 8 4 4 ,,294 2 3 7 ,,794 3 1 9 ,,046 6 7 7 ,631 17,,336 2 2 2 8 ,827 8 9 9 ,,889 2 5 0 ,, 5 8 4 3 3 2 ,654 726,,697 19,,003 7 8 9 10 11 12 4 3 2 ,,260 30 • 386 2 7 ,,960 5 2 ,717 313,,054 8 • 143 4 4 9 ,,563 33,, 0 3 2 2 8 ,,753 5 4 ,,996 3 2 3 ,808 8 ,974 4 6 8 ,552 35,, 7 7 4 2 9 ,886 5 7 ,649 3 3 5 ,, 5 6 5 9 ,678 4 9 4 ,,943 3 8 ,729 31,, 1 0 7 61,,148 3 5 3 ,,063 10,,896 5 3 5 ,,711 4 2 ,, 7 8 2 3 3 ,313 6 6 ,192 3 8 0 ,952 12,, 4 7 2 5 9 0 ,951 4 7 ,686 36,,105 72,,705 4 2 0 ,288 14 , 1 6 7 6 4 0 ,, 6 7 7 5 1 ,,320 38,,600 77 ,454 4 5 7 ,427 15,,876 7 0 9 ,247 P l a n t and e q u i p m e n t ( 1 ) Nonprofit institutions 5 7 ,599 Farm business 41 ,838 Nonfarm noncorp. business 8 5 ,050 Nonfinancial corporations 5 0 5 ,854 Financial institutions 18,,906 13 14 15 16 17 18 19 441 318 6 19 91 6 560 ,004 ,564 ,186 ,048 ,758 459 330 7 19 94 7 ,106 ,988 ,129 ,091 ,537 ,361 471 339 7 18 97 8 ,540 ,884 ,513 ,795 ,334 ,014 - 5 0 2 ,,050 3 6 1 ,593 8 ,303 19,,129 1 0 4 ,041 8 ,984 526 378 9 19 109 9 567 408 10 20 118 10 596 429 10 20 123 11 667 480 12 22 139 13 20 21 22 23 137 23 15 97 ,164 ,800 ,599 ,765 143 25 15 102 ,761 ,200 ,780 ,781 149 25 15 108 ,508 ,700 ,129 ,679 155 24 15 115 24 1 9 6 ,795 25 26 27 28 29 30 377 82 114 88 91 2 ,751 ,214 ,016 ,244 ,126 ,151 31 32 33 34 35 36 1055 433 145 207 260 7 ,418 ,804 ,825 ,^41 ,919 ,529 2 0 2 ,317 392 86 119 91 93 2 ,400 ,030 ,200 ,758 ,042 ,370 1 0 9 7 ,,458 4 5 3 ,, 6 2 7 151,,495 2 1 6 ,,263 2 6 7 ,, 7 0 7 8,,366 - ,165 ,819 ,034 ,179 ,329 ,804 - ,478 ,411 ,047 ,011 ,118 ,891 ,380 ,580 ,681 ,517 ,952 ,650 - - Inventories (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 2 8 3 ,210 3 1 4 ,, 2 1 7 Consumer 511 125 163 114 105 3 ,183 ,098 ,567 ,146 ,245 ,127 5 3 5 , 4 9 0 L a n d at m a r k e t v a l u e HouseholdsSnonprofit insts. 138,, 2 3 2 Farm business 169,,706 , 0 0 4 Nonfarm noncorp. business 119 Nonfinancial corporations 1 0 5 ,246 Financial institutions 3 ,302 25 1448 611 201 281 340 12 ,254 ,614 ,447 , 664 ,778 ,751 1 5 8 2 ,170 T o t a l r e a l e s t a t e HouseholdsSnonprofit insts. 6 8 2 ,810 Farm business 2 1 0 ,983 Nonfarm noncorp. business 3 0 7 ,138 Nonfarm nonfin. corporations 3 6 6 ,540 Private finan. institutions 14,,699 31 32 33 34 35 36 1 6 9 ,035 2 8 ,, 0 0 0 15 ,838 125,, 1 9 7 185,,170 2 7 ,,400 16,,329 141 ,441 197 ,377 27,, 9 0 0 17 , 1 0 2 152,,375 2 1 2 ,801 2 2 3 ,713 2 3 6 ,,061 2 5 8 ,, 4 8 7 408 88 127 95 95 2 430 94 135 99 98 2 ,360 ,744 ,228 ,483 ,106 ,799 4 5 3 ,,688 9 9 ,567 146,,293 1 0 3 ,451 101,, 3 5 7 3 ,020 4 9 4 ,,015 119,,663 154,,278 111 ,894 105,,011 3,,169 1 2 0 1 ,,953 4 9 9 ,,360 168,,749 2 3 7 ,,636 2 8 6 ,.135 10,,073 1 2 7 1 ,,461 525 906 1 8 0 ,,759 2 5 0 ,,257 3 0 3 ,,361 11,,178 1 3 8 0 ,,103 5 8 1 ,,116 190,,738 2 7 1 ,,116 3 2 4 ,,913 12,,220 1 1 3 6 ,,313 4 6 8 ,326 159,, 6 9 0 2 2 4 ,, 5 5 6 2 7 4 ,, 6 7 6 9,, 0 6 5 Residential structures (1) Households: owner-occupants Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Real estate invest, trusts 2 1 1 ,, 7 3 2 2 9 ,,100 17,, 6 2 4 165,,008 ,367 500 ,089 ,778 ,823 ,913 ,087 ,265 ,015 ,543 ,831 ,332 ,042 ,070 ,706 ,580 101 (1) At (2) At Data are in millions of dollars. durables (households) current cost. year-end prices. 26 27 28 29 30 S e p t e m b e r 1991 Tangible Asset Tangible Holdings Distribution 16 Year-End 2652, 588 1096, 434 273, 174 392, 318 865, 189 25, 4 7 3 by 4580, 1846, 475, 687, 1516, 54, 678 295 728 699 552 404 4982, 303 1999, 707 5 3 4 , 159 741, 703 1643, 926 62, 8 0 8 5 5 5 8 , 191 2253, 408 614, 8 8 3 822, 646 1795, 5 2 7 71,.727 1 2 3 4 5 6 8 6 5 , 131 71, 7 2 2 49, 2 2 8 1 0 4 =2 9 9 615, 2 8 3 24, 5 9 9 950, 521 80, 703 53, 641 1 1 5 ,.702 672 219 28 256 1 0 3 3 ,.065 88, 782 5 9 ,,034 126,,814 726 ,357 32,,078 1 1 5 7 ,,661 98,,473 66,,380 1 4 3 ,735 8 1 1 ,430 3 7 ,643 1422, 115, 82, 172, 1003, 47, 612 495 745 865 704 803 1570, 979 120,.886 90, 9 1 4 184,.819 1 1 1 9 ,,183 55,,177 1 7 0 9 ,.871 129,,743 101,,589 1 9 7 ,623 1 2 1 7 ,926 6 2 ,990 7 8 9 10 11 12 860 459 6 1 4 ,.337 14,,936 2 5 ,515 1 8 5 ,471 19 ,828 372 964 687 16 27 212 20 ,656 ,415 ,802 ,165 ,013 ,591 670 1109 791 19 29 246 22 ,890 ,680 ,450 ,703 ,015 ,152 890 ,333 ,144 ,691 ,804 ,078 ,884 ,732 13 14 15 16 17 18 19 ,804 ,400 ,671 ,733 285 44 24 217 ,593 ,300 ,014 ,279 352 65 27 259 ,625 ,500 ,309 ,816 ,905 : ,443 ,167 ,387 ,010 ,704 194 7 7 2 ,,214 5 5 1 ,,874 13,,720 2 3 ,998 1 6 5 ,106 17 , 2 5 6 260 20 21 22 23 Inventories (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 232 31 18 182 ,396 ,800 ,346 ,250 240 31 19 190 24 Consumer 343 ,730 L a n d at m a r k e t v a l u e Households&nonprofit insts. Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 31 T o t a l r e a l e s t a t e Households&nonprofit insts. 32 Farm business 33 Nonfarm noncorp. business 34 Nonfarm nonfin. corporations 35 Private finan. institutions 36 current cost. year-end prices. are in millions of dollars. 559 150 172 124 108 3 ,774 ,331 ,378 ,630 ,879 ,556 1715, 665 7 4 6 ,,934 2 1 7 ,,097 3 3 4 ,,432 4 0 0 ,,463 16,,739 Outstandings 3907, 803 1610, 115 4 2 8 , 741 597, 266 1228, 528 43, 153 731 524 13 23 155 15 (households) Holdings 3396, 240 1411, 761 343, 224 517, 207 1087, 014 3 7 ,.034 13 R e s i d e n t i a l s t r u c t u r e s ( 1 ) 14 Households: owner-occupants 15 Nonprofit institutions 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Real estate invest, trusts durables Asset Sector 755 091 422 444 242 556 2828, 728 1167, 540 281, 288 417, 227 934, 126 28, 547 7 8 4 ,7 8 3 64, 7 6 3 4 5 ,.609 94,• 3 3 2 5 5 8 ,,356 2 1 ,,723 Data Assets Year-End 7 P l a n t and e q u i p m e n t CI) 8 Nonprofit institutions 9 Farm business 10 Nonfarm noncorp. business 11 Nonfinancial corporations 12 Financial institutions (1) At ( 2 ) At Tangible Outstandings 1 T o t a l h o l d i n g s of t a n g i b l e s 2 Households&nonprofit insts. Farm business 3 4 Nonfarm noncorp. business 5 Nonfinancial corporations Financial institutions 6 25 26 27 28 29 30 of ,310 ,100 ,134 ,076 372 ,434 578 157 176 128 111 3 ,639 ,790 ,962 ,688 ,511 ,688 1 8 2 0 ,,638 7 8 8 ,,951 2 2 4 ,,525 3 5 4 ,843 4 3 3 ,867 18 , 4 5 2 3079, 1278, 303, 458, 1007, 32, 257 35 21 200 3 9 3 ,731 617 174 188 135 114 3 ,240 ,384 ,866 ,600 ,462 ,928 2004 313 877 857 240 908 390 <32 473 942 20 974 4 2 4 ,684 4 7 0 ,500 688 194 212 154 122 4 817 230 267 180 135 4 ,242 ,078 ,725 ,366 ,787 ,286 2230, 695 980, 2 6 8 ,,703 4 4 4 ,,125 5 1 3 ,, 9 6 2 2 3 ,,683 ,127 ,012 , 158 ,207 ,130 ,620 2577, 409 1 1 3 2 ,.182 3 2 9 ,,156 5 1 5 ,,357 5 7 4 ,,294 2 6 ,420 1 2 6 2 ,,175 9 0 2 ,,948 2 1 ,,899 33,, 6 2 0 2 7 8 ,794 2 3 ,618 1 ,296 1363 978 23 35 299 23 2 ,500 ,640 ,842 ,656 ,525 ,680 ,157 1532 1106 26 38 333 24 2 ,315 ,400 ,600 ,315 428 64 27 337 ,828 ,300 ,281 ,247 463 60 27 375 423 62 29 331 5 4 4 ,179 928 261 296 206 157 5 ,397 ,774 ,963 ,440 ,915 ,305 2 9 8 5 ,,631 1 2 9 3 ,,192 3 6 9 ,,480 5 9 2 ,,280 6 9 9 ,,236 31 ,443 5 9 5 ,699 1023 280 343 230 163 5 ,297 ,640 ,289 ,078 ,816 ,474 3 2 4 1 ,,238 1 3 9 4 ,,204 4 2 0 ,,987 6 4 1 ,967 749,,153 3 4 ,927 ,282 20 , 2 0 0 21 ,910 2 2 ,172 23 652 ,753 24 ,952 ,077 ,290 ,035 ,545 ,005 25 26 27 28 29 30 1199 338 414 264 177 6 3 6 5 5 ,,121 31 1 5 9 0 ,,247 3 2 499, 785 33 716,,372 3 4 8 1 0 ,,047 3 5 38,,670 3 6 S e p t e m b e r 1991 Tangible Asset Holdings Tangible Distribution Year-End of Tangible Assets Outstandings 1977 Asset Year-End 1978 1979 1980 1981 1982 1983 Holdings 17 by S e c t o r Outstandings 1984 6 3 1 9 ,.728 2614, 292 677, 4 8 6 953, 995 1993, 945 8 0 ,.010 7404, 909 3077, 067 797, 8 7 8 1136, 511 2305, 779 87, 674 8 4 9 7 ,,439 3 5 0 5 ,• 6 4 1 9 2 7 ,,298 1 3 5 3 ,,885 2 6 1 3 ,,313 97,, 3 0 2 9 5 7 8 ,,943 3 8 7 4 ,, 8 7 7 1022, 056 1 5 8 7 ,, 8 4 7 2 9 8 3 ,,280 110,,883 1 0 6 0 4 ,,750 4 2 5 7 ,978 1 0 2 6 ,434 1 8 3 7 ,819 3 3 5 6 ,918 1 2 5 ,,601 7 8 9 10 11 12 1895, 798 1 4 1 ,.601 114,,559 219, 394 1349, 2 7 9 70,, 9 6 5 2199, 699 167, 725 133, 9 1 2 260, 593 1 5 5 7 ,.408 8 0 ,.061 2459 175 149 291 1752 89 ,108 ,421 ,838 ,896 ,240 ,713 2 8 0 7 ,427 193 ,848 167 ,397 3 3 6 ,461 2 0 0 7 ,110 102:,611 3 1 7 5 ,,130 212 434 181,,202 3 9 1 ,,737 2 2 7 3 ,,365 116,,392 3 3 4 8 ,274 2 1 7 ,772 181 ,865 4 2 0 ,209 2 4 0 3 ,,043 125 ,385 3450 233 184 435 2465 132 • 406 ,395 ,328 ,059 ,263 ,361 3 6 3 0 ,,176 2 4 6 ,, 3 0 2 183,. 0 1 7 4 5 5 ,,239 2 5 9 6 ,.068 149,,550 P l a n t and e q u i p m e n t (1) Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 19 1 7 8 5 ,.154 1296, 125 30 820 4 3 .801 3 8 4 >099 2 7 ,591 2 , 718 2095, 090 1527! 137 35, 8 9 8 49, 624 448, 918 32, 111 1,.402 2407 1734 41 54 540 35 1 ,398 ,013 ,359 ,431 ,884 ,357 ,354 2676 1902 46 59 628 38 1 ,405 ,860 ,487 ,241 ,290 ,190 ,337 2 9 2 8 ,454 2 0 6 2 ,,051 5 0 ,,956 6 3 ,118 7 1 0 ,350 4 0 ,,580 1 ,399 2893 2017 50 61 722 39 1 ,937 ,467 ,559 ,872 ,790 ,828 ,421 3112 2187 53 63 765 41 1 ,749 ,547 ,263 ,752 ,267 ,587 ,333 3 3 0 8 .357 2 3 1 6 ,,297 5 6 ,,649 65,,618 8 2 4 ,,875 4 3 ,,505 1,,413 Residential structures (1) Households: owner-occupants Nonprofit institutions Farm business Nonfarm noncorp. business Nonfinancial corporations Real estate invest, trusts 13 14 15 16 17 18 19 588, 241 73,.700 32, 7 2 4 4 8 1 ,.817 674 80 34 559 ,837 ,700 ,882 ,255 739 84 33 620 ,312 ,500 ,996 ,816 771 79 33 659 ,459 ,248 ,120 ,091 787 79 33 674 ,190 ,365 ,617 ,208 I n v e n t o r i e s (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 20 21 22 23 1 2 3 4 5 6 20 21 22 23 505 59 29 416 ,683 ,300 ,454 ,929 24 7 2 5 ,497 820, 462 25 26 27 28 29 30 1 4 0 7 ,596 4 2 0 ,249 4 5 9 ,826 321 : ,048 2 0 0 ,,146 6,.327 1701, 4 1 7 525, 8 4 5 540, 642 394, 2 7 6 234, 443 6, 2 1 1 2030 629 642 486 266 6 925 ,294 31 32 33 34 35 36 4 2 0 6 ,919 1 8 7 7 ,585 5 5 6 ,,547 8 3 7 ,209 8 9 4 ,110 41,,468 4988 241 2 2 4 4 ,477 6 5 5 ,,968 1 0 0 2 ,,718 1 0 4 2 ,,543 4 2 ,,535 5 7 3 7 ,,374 2566, 976 7 6 7 ,.792 1 2 0 1 ,.787 1 1 5 7 ,.139 4 3 ,.680 ,802 ,554 ,329 ,223 ,461 ,235 788 81 33 673 ,988 ,554 ,496 ,938 10824 4268 984 1934 3501 134 ,436 ,701 ,468 ,297 ,990 ,980 1 1 4 1 5 ,813 4 6 1 4 ,510 9 9 2 ,121 2 0 6 1 ,311 3 6 0 5 ,531 142,, 3 4 0 1 2 0 1 3 ,, 8 5 7 T o t a l h o l d i n g s of t a n g i b l e s 4 8 9 4 ,553 HouseholdsSnonprofit insts. 8 9 5 ,162 Farm business 2 2 1 9 ,,481 Nonfarm noncorp. business 3 8 4 3 ,,923 Nonfinancial corporations 160,,738 Financial institutions 858 80 36 740 ,166 ,860 -407 ,899 1019 ,969 1 0 9 6 ,474 1141 ,689 1 2 0 6 ,882 1 2 8 5 ,,977 Consumer 2335 711 710 589 317 6 2615 836 700 702 369 7 2669 841 661 758 400 8 2858 933 664 827 424 8 ,586 ,423 ,676 ,368 ,473 ,646 2 9 3 1 ,,181 989, 3 2 8 5 6 5 ,.667 9 0 2 ,.960 4 6 3 ,.451 9,.775 L a n d at m a r k e t v a l u e HouseholdsSnonprofit insts. Farm business Nonfarm noncorp. business N o n f i n a n c i al c o r p o r a t i o n s Financial institutions 25 26 27 28 29 30 7 7 6 9 ,,204 3 3 8 6 ,,228 8 2 1 ,,797 1 8 6 7 ,,172 1 6 3 7 ,,661 5 6 ,,346 8 1 4 0 ,384 3 5 8 5 ,324 727 ,740 2 0 1 9 ,,341 1 7 4 5 ,,630 62,,349 Total real estate HouseholdsSnonprofit insts. Farm business Nonfarm noncorp. business Nonfarm nonfin. corporations Private finan. institutions 31 32 33 34 35 36 ,830 ,713 ,918 ,100 ,164 ,935 6 4 8 2 ,742 2 8 3 9 ,494 8 5 0 ,109 1 4 2 0 ,872 1 3 2 4 ,,800 47,, 4 6 7 ,704 ,063 ,560 ,236 ,035 ,810 7 2 0 6 ,, 3 6 2 3 1 4 3 ,,898 8 5 1 ,,653 1 6 5 5 ,,019 1 5 0 3 ,,766 5 2 ,,026 ,077 ,214 ,483 ,178 ,028 ,174 7 3 0 0 ,, 4 6 5 3 1 0 7 ,437 8 1 2 ,110 1 7 4 4 ,349 1 5 8 3 ,428 53,,141 CI) At (2) At Data are in millions of dollars. 1 2 3 4 5 6 durables (households) 24 current cost. year-end prices. S e p t e m b e r 1991 Tangible Asset Holdings Tangible 18 Year-End Distribution of Tangible Assets by Asset Holdings Sector Outstandings Year-End Outstandings 1987 1 T o t a l h o l d i n g s of t a n g i b l e s HouseholdsSnonprofit insts. 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corporations 5 Financial institutions 6 12529 5187 800 2370 3992 178 ,545 ,431 ,930 ,320 ,822 ,042 13253 5624 755 2514 4150 207 ,048 ,813 ,541 ,609 ,772 ,313 14241 6169 761 2696 4380 233 ,283 ,317 ,097 ,682 ,424 ,763 15054 6559 800 2788 4634 270 ,407 ,395 ,819 ,706 ,899 ,588 16017 7057 833 2940 4873 312 ,250 ,278 ,231 ,716 ,847 ,178 16240 7075 870 2920 5030 343 ,490 ,983 ,038 ,780 ,380 ,309 7 P l a n t and e q u i p m e n t ( 1 ) 8 Nonprofit institutions Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corporations 11 Financial institutions 12 3771 254 175 475 2700 165 ,680 ,353 ,723 ,690 ,543 ,371 3949 264 170 492 2829 192 ,846 ,202 ,779 ,282 ,795 ,788 4149 278 168 518 2967 216 ,450 ,978 ,221 ,213 ,240 ,798 4377 290 162 542 3129 251 ,287 ,585 ,890 ,912 ,356 ,544 4633 309 166 571 3294 290 ,006 ,489 ,511 ,581 ,622 ,803 4810 316 166 582 3426 319 ,996 ,115 ,195 ,774 ,321 ,591 13 R e s i d e n t i a l s t r u c t u r e s ( 1 ) Households: owner-occupants 14 Nonprofit institutions 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corporations 18 Real estate invest, trusts 19 3 4 8 2 ,951 2 4 3 6 ,413 5 9 ,431 65 ,960 8 7 4 ,619 4 4 ,866 1,, 6 6 2 3686 2603 61 65 908 45 1 ,952 ,104 ,701 ,749 , 664 ,743 ,991 4050 2877 67 68 985 48 ,130 ,847 ,126 ,099 ,833 ,761 ,464 4 2 3 4 ,832 3 0 4 1 ,, 7 9 7 68 ,667 6 7 ,373 1 0 0 5 ,,163 4 8 ,998 2,,834 4 5 4 6 ,042 3 2 8 2 ,492 72 ,888 69,, 1 2 7 1 0 6 7 ,064 5 1 ,, 5 5 2 2,,919 4603 3347 72 68 1061 50 3 ,871 ,875 ,521 ,452 ,337 ,103 ,583 918 • 8 8 7 65,,520 4 1 ,,672 8 1 1 ,,695 9 9 6 ,,497 71,,422 4 5 ,,063 880, 012 1 0 5 0 ,,812 77,,886 48 014 9 2 4 ,,912 1 0 6 0 ,, 6 9 5 75,, 7 0 3 4 8 ,, 1 6 5 9 3 6 ,, 8 2 7 23 Inventories (2) Farm business Nonfarm noncorp. business Nonfinancial corporations 24 Consumer 20 21 durables (households) 2 5 L a n d at m a r k e t v a l u e HouseholdsSnonprofit insts. 26 Farm business 27 Nonfarm noncorp. business 28 Nonfinancial corporations 29 30 Financial institutions 863, 542 71,,478 38,,842 7 5 3 ,,222 8 5 3 ,,268 66,, 2 7 7 37,,876 7 4 9 ,,115 2 1 3 9 7 ,,669 1 5 3 4 ,,091 1 6 6 3 ,,739 1805, 623 1 9 3 3 ,,809 2 0 2 3 ,,652 3 0 1 3 ,,703 1 0 3 9 ,,565 487, 769 981, 169 4 9 4 ,,191 11, 0 0 9 3 2 2 8 ,,891 1 1 6 1 ,.715 4 5 2 ,,736 1075, 787 5 2 6 ,,119 12,,534 3 4 5 9 ,,077 1281, 627 4 5 9 ,,257 1 1 5 0 ,,964 5 5 2 ,,728 14,,501 3640, 168 1352, 723 499, 134 1195, 5 6 8 5 7 6 ,,533 16, 2 1 0 3 8 5 3 ,,581 1458, 600 519, 707 1 2 5 4 ,,057 602, 761 18, 4 5 6 3741, 276 1 3 1 5 ,,820 5 5 9 ,• 6 8 8 1228, 504 6 1 7 ,,129 2 0 ,,135 8471, 016 3764, 453 650, 006 -*164, 8 8 1 1821, 547 70, 129 8 9 5 1 , 175 4062, 615 614, 740 2305, 933 1888, 364 79, 5 2 3 9656, 4475, 625, 2480, 1983, 91, 10107, 380 4720, 565 663, 766 2 5 5 9 , 771 2060, 803 102, 4 7 5 10758, 013 5 0 8 8 , 091 688, 037 2701, 585 2163, 203 117, 097 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 26 27 28 29 30 Memo: 31 T o t a l r e a l e s t a t e HouseholdsSnonprofit insts. 32 Farm business 33 34 Nonfarm noncorp. business Nonfarm nonfin. corporations 35 36 Private finan. institutions (1) At ( 2 ) At Data current cost. year-end prices. are in millions of dollars. 032 145 020 292 797 778 10748, 190 5015, 512 725, 000 2674, 995 2204, 465 128, 218 31 32 33 34 35 36 S e p t e m b e r 1991 Households Households Sector Year-End Balance Tangible Assets at Current 19 Cost Year-End 140, 2 5 7 167, 369 Personal 204, 996 4 5 6 7 126, 171 73, 5 1 2 70, 169 3, 3 4 3 6 •4 4 9 4 6 ,>210 150, 2 8 3 88, 882 85, 075 3, 8 0 7 8 ,,230 53, 171 183, 989 108, 8 2 4 104, 5 2 0 4, 3 0 4 10, 0 3 6 65, 129 8 9 10 14,,086 12,,630 1,,456 17, 0 8 6 15,,313 1,,773 2 1 ,0 0 7 18, 8 1 4 2,,193 Trusts, and Nonprofit Organizations 235, 189 258, 429 305, 993 3 4 6 ,,847 373, 694 211, 224 124, 115 119, 611 4,,504 10, 8 5 5 76,,254 232, 427 134, 5 7 0 129, 9 9 7 4,,573 11 ,,291 8 6 ,,566 275, 981 154, 8 3 5 150, 0 1 9 4, 8 1 6 12, 9 5 7 108, 189 3 1 2 ,,998 173, 7 7 7 168,,748 5, 0 2 9 14,,806 124,,415 337, 106 1 8 7 ,.327 182, 2 5 0 5, 0 7 7 15, 7 9 0 1 3 3 ,,989 2 6 ,,002 2 3 ,,399 2,,603 30, 0 1 2 27, 003 3,,009 33,,849 30,,375 3,, 4 7 4 36,,588 32, 8 0 5 3,,783 2 3 ,,965 2 1 ,• 5 3 0 2,,435 11 556 371 5 9 2 ,310 6 2 3 ,,426 6 4 0 ,842 6 5 8 ,689 7 2 7 ,,396 787 ,957 153 8 3 11 ,,,153 12 13 14 1 9 7 ,139 55 ,797 5 0 ,098 2 0 6 ,409 5 9 ,562 5 6 ,423 2 0 9 ,,654 5 8 ,, 1 3 0 5 9 ,, 8 5 7 2 1 1 ,,404 5 5 ,378 6 2 ,071 2 1 3 ,198 5 3 ,516 6 4 ,629 2 1 9 ,,626 55 977 67,,079 2 2 9 ,199 60 ,112 71 ,896 2 4 7 ,143 62,, 1 3 0 79 , 64 6 16 157 ,087 ,428 ,935 ,306 ,813 ,268 ,963 ,151 ,970 ,158 252 205 156 90 64 44 23 -3 91 64 46 21 -3 ,462 ,870 ,236 ,887 ,253 93 65 47 20 -3 ,703 ,655 ,837 ,921 ,103 94 67 49 20 -3 Outstandings 1950 1949 1948 1947 2 with Outstandings Households, 1 Sheet 370 309 328 278 ,725 ,109 ,300 ,898 ,089 9 6 ,292 66,, 2 4 4 49,,552 19 ,765 - 3 ,073 96 65 49 18 -2 ,882 ,324 ,081 ,915 ,672 104 67 49 20 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 2 Land Owner-occupied Nonprofit institutions 8 Total financial 6 7 9 10 assets D e p o s i t s 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. M o n e y market fund shares Large time deposits Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues ,997 ,515 ,173 ,734 ,392 3 4 5 12 13 14 15 16 17 17 18 19 20 21 91 66 42 26 -2 22 23 24 25 3 ,869 8 , 605 1 2 ,151 34 3 ,817 7 ,765 13 , 6 5 8 65 4 ,458 7 ,063 14 , 9 9 8 73 4 ,629 7 ,111 16 , 1 5 0 158 3 ,724 6 ,824 16 , 8 6 3 205 5 ,465 6 ,764 17 ,531 288 5 ,740 6 ,973 18 , 4 2 5 420 10 , 9 5 7 6 ,970 19 , 0 8 9 466 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 26 27 28 111 , 5 3 0 1 ,264 110 ,266 103 ,387 1 ,297 102 ,090 101 ,249 1 ,412 99 ,837 100 ,136 1 ,515 9 8 ,621 109 ,445 3 ,070 106 ,375 133 ,663 3 ,344 1 3 0 ,319 156 ,293 3 ,481 152 ,812 170 ,429 3 ,931 166 ,498 Corporate equities M u t u a l fund s h a r e s Other corporate equities 26 Life insurance reserves Pension fund reserves 29 30 29 30 39 ,560 12 , 2 5 5 43 ,360 13 , 5 1 7 46 ,510 15 , 7 7 0 49 ,353 18 , 2 2 6 5 2 ,104 2 1 ,051 5 5 ,049 2 4 ,254 5 7 ,777 2 7 ,820 60 ,665 32 ,595 31 188 ,942 217 ,850 2 4 1 ,991 2 5 3 ,082 2 5 3 ,832 2 8 5 ,141 306 ,699 3 0 9 ,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 8 2 8 ,422 8 7 6 ,031 9 1 7 ,118 1033 ,389 1134 ,804 1204 ,847 37,811 5 4 ,013 6 2 ,555 75,,656 84, 544 96 ,932 42,588 5 8 ,948 35 ,284 1 ,515 71,,179 4 1 ,998 1 ,978 8 0 ,,031 48, 622 2,,490 92 ,068 5 4 ,834 2 ,953 Equity in noncorp. Total 27,653 500 34,242 21,607 642 831 2,607 4,167 4,435 5,286 7,092 6,158 9 ,514 6 ,805 12 ,232 7 ,156 15 , 5 0 3 8 ,462 16,,220 9,,149 2 0 ,470 10 ,073 42 43 301 2,078 2,008 264 191 2,050 287 2 ,182 380 2 ,381 667 2 ,571 785 2,,765 836 2 ,902 Bank loans n.e.c. Other loans 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 46 638 835 904 1 ,007 1 ,086 1 ,162 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 662,972 8 2 2 ,018 8 5 4 ,563 957 ,733 1050 ,260 1107 ,915 2 1 5 ,055 26,266 48 82,799 100,388 123,334 141 ,141 153 ,396 177 ,022 199 ,123 49 21.7% 21.5% 21.2% 2 1.8% 2 3.0% 2:3 . 7 % 24.4% 50 10,901 31,662 Data are in millions 13,353 35,723 of dollars. 15,948 38,154 17 , 0 8 7 38 ,100 17 ,646 37 ,424 19 , 7 2 4 4 0 ,156 Net 28 31 36 37 38 39 40 41 44 45 life 46 47 Total owner-occ. real estate H o m e m o r t g a g e s a s p e r c e n t of owner-occ. real estate 2!5 . 4 % nonprofit 27 42 43 worth Total 23 24 25 35 liabilities Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons, credit Other consumer credit 36 37 38 39 40 41 19 21 32 33 Security credit Miscellaneous assets 5 0 ,780 30 ,862 1 ,130 18,000 business 18 20 real estate 22 ,026 23 ,205 41 ,867 I n v e n t o r i e s of n o n d u r a b l e g o o d s , n o t i n c l u d e d in t o t a l s a b o v e 4 2 ,178 48 49 50 51 S e p t e m b e r 1991 Households Households 20 Year-End Sector Balance Sheet with Tangible 1 Tangible 11 assets Land Owner-occupied Nonprofit institutions Total 12 13 14 15 16 financial assets Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. M o n e y market fund shares Large time deposits 17 18 19 20 21 Current Cost Year-End Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 8 9 10 at Outstandings Households, 2 3 4 5 6 7 Assets Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues Personal Trusts, and Nonprofit Organizations 397 ,837 4 2 2 ,088 4 6 0 ,448 5 0 4 ,056 526 ,747 551 ,987 581,117 611,811 1 358 199 194 5 16 142 379 214 209 5 17 147 413 236 231 5 19 157 447 253 248 5 22 171 466 266 261 5 23 176 488 281 275 5 25 181 ,188 ,197 ,396 ,801 ,029 ,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 67,989 58,298 9,691 78,103 67,246 10,857 8 9 10 ,709 ,234 ,135 ,099 ,502 ,973 39 ,128 34 ,944 4 ,184 ,482 ,825 ,632 ,193 ,577 ,080 ,328 ,374 ,005 ,369 ,639 ,315 ,763 ,796 ,279 ,517 ,090 ,877 ,813 ,961 ,335 ,626 ,677 ,175 4 2 ,606 37 ,734 4 ,872 4 7 ,120 4 1 ,581 5 ,539 56 ,293 4 9 ,656 6 ,637 59 ,934 52 ,267 7 ,667 63 ,799 55 ,079 8 ,720 8 4 8 ,214 946 ,070 1037 ,588 1102 ,114 1104 ,057 1256 ,086 2 6 1 ,653 6 3 ,229 8 7 ,899 2 7 3 ,024 64 ,948 97 ,155 291 ,229 65 ,891 105 ,876 309 ,524 67 ,592 115 ,452 326 ,770 66 ,475 127 ,498 343 ,825 68 ,632 141 ,577 354 110 68 49 21 -2 ,171 ,332 ,371 ,109 , 148 309 110 66 49 18 -2 ,612 ,390 ,966 ,469 ,045 190 119 69 50 20 -1 1 368,338 71,559 153,087 -426 ,911 ,254 ,226 ,077 -49 133 ,896 69 ,885 4 7 ,703 ,382 -200 144,118 74,505 45,907 1,730 151,303 73,965 45,642 27,289 1,034 21 7 24 1 ,900 ,846 ,059 ,210 23 8 25 1 ,851 ,494 ,997 ,315 ,616 ,673 ,562 ,160 28,362 10,238 30,659 354 31,007 10,899 33,426 2,006 26,868 26 27 28 Corporate equities M u t u a l fund s h a r e s Other corporate equities 162,,414 4,,146 1 5 8 ,,268 2 3 5 ,019 6 ,109 2 2 8 ,910 2 8 6 ,293 7 ,838 2 7 8 ,455 3 0 5 .,087 9,,046 2 9 6 ,,041 2 6 7 ,382 8 ,714 2 5 8 ,668 3 7 3 ,311 13 ,241 3 6 0 ,, 0 7 0 401,991 15,818 386,173 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 6 6 ,349 4 2 ,,654 69,,254 5 0 ,,546 72,.724 5 6 ,,590 75 ,462 62,,678 78,,535 72,,716 81,956 82,410 31 Equity 3 1 7 ,,058 3 2 7 ,,954 3 4 5 ,,574 3 5 8 ,,830 3 7 4 ,,226 32 33 Security credit Miscellaneous assets 899 11,,413 882 11, 7 3 3 894 12,.041 1,,156 12,,317 1 3 6 8 ,,158 1 4 9 8 ,,036 1606, 170 1630, 8 0 4 1 8 0 8 ,.073 110, 104 122, 2 9 8 1 4 3 ,,002 159, 2 7 7 1 7 1 ,.754 1 8 4 ,.640 104, 606 62, 4 5 8 3, 4 4 2 115, 5 2 8 71, 1 4 4 4,• 0 3 4 1 3 5 ,,323 83, 305 4, 6 2 4 151 , 3 0 5 94, 5 3 8 5, 2 9 9 1 6 3 ,,888 103, 4 1 9 6,,041 175, 340 112, 8 8 0 6, 8 2 4 197,787 125,685 7,602 34 T o t a l assets 35 liabilities Total 36 37 38 39 40 41 L246, 051 Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons, credit Other consumer credit 42 43 Bank loans n.e.c. Other loans 44 45 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 46 47 708 10 =609 Net 1,, 0 2 0 10,> 9 4 6 24 9 28 1 989 12,821 395,457 26 17,026 27 378,431 28 85,184 90,818 29 30 387,431 31 1,137 13,297 32 33 1974,461 34 225,129 35 2 1 5 , 2 2 6 36 137,348 37 8 , 4 3 2 38 39 45,051 40 24, 254 10, 3 8 2 24, 8 9 1 11,,095 30, 2 6 9 12,,706 3 3 , 171 13, 4 3 4 35, 4 4 3 13,.801 3 5 ,,339 14,,186 41,123 16,119 940 3, 1 3 0 989 3, 3 7 5 814 3, 6 0 5 971 3, 8 9 2 829 4, 3 5 5 1, 2 9 0 4, 821 1,825 5,433 1,921 42 6,252 43 3, 0 3 2 1, 2 1 2 4, 131 1, 2 9 8 4, 8 1 6 1, 3 8 1 4, 773 1, 5 3 0 4, 3 6 5 1, 6 5 8 5, 5 2 2 1, 8 0 9 5,536 1,983 5,398 2,126 44 45 1, 2 5 4 1, 3 4 1 1, 4 8 2 1, 6 6 9 1, 8 4 3 1, 9 6 9 2,187 1135, 9 4 7 1245, 8 6 0 1355, 034 1446, 8 9 3 1459, 050 1623, 433 1704,151 1749,332 47 229,079 247,366 272,586 297,935 313,602 330,475 349,788 372,909 48 27.2% 28.7% 30.5% 31.7% 32.9% 34.1% 35.9% 36.8% 49 24,129 25,815 28,498 31,917 34,396 36,755 39,293 42,055 50 43,110 43,428 45,148 47,431 48,467 49,031 51,268 53,054 51 life worth 22 23 24 25 -280 19 , 1 7 4 6 ,872 ,476 1 ,127 311, 704 17 18 19 20 21 -114 132 73 48 25 15 , 9 6 4 6 ,162 21 ,214 882 business 12 13 14 15 16 ,479 ,464 ,135 ,375 ,046 13 , 8 7 3 7 ,031 2 0 ,081 854 noncorp. 11 389,326 73,206 164,835 -18 126 71 50 22 -1 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 6 3 =• 6 4 7 37, 4 7 9 1362,650 ,272 ,623 ,229 ,911 ,517 22 23 24 25 in Outstandings 16,222 41 Memo: 48 49 Total owner-occ. real estate H o m e m o r t g a g e s as p e r c e n t of owner-occ. real estate 50 Total 51 I n v e n t o r i e s of n o n d u r a b l e g o o d s , n o t i n c l u d e d in t o t a l s a b o v e Data are nonprofit in real millions of estate dollars. S e p t e m b e r 1991 Households Households Sector Year-End Balance Sheet with Tangible Assets at Current 21 Cost Year-End Outstandings 1962 1963 Households, 1964 Personal Trusts, 1965 and 1966 Nonprofit Outstandings 1967 Organizations Tangible assets 1 1 633, 963 659, 496 684, 885 727, 082 766, 263 844, 294 899, 889 1002, 422 2 3 4 5 6 7 551, 749 324, 568 318, 004 6, 5 6 4 30, 3 8 6 196, 795 573, 466 338, 117 330, 988 7, 1 2 9 33, 032 202, 317 595, 972 347, 397 339, 884 7, 5 1 3 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 2 3 6 , 061 724, 631 418, 458 408, 411 10, 04 7 47, 686 258, 487 7 7 4 , 791 440, 261 429, 580 10, 681 51, 320 283, 210 8 6 4 , 190 492, 374 480, 332 12, 042 57, 599 314, 217 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant & equip. Consumer durables 8 9 10 82, 214 69,.961 12,,253 86, 030 72, 8 1 7 13,,213 88, 913 74, 774 14, 1 3 9 94, 744 79, 5 5 0 15, 1 9 4 99, 567 83, 340 16, 2 2 7 119, 663 102, 103 17, 5 6 0 125, 098 107, 395 17, 7 0 3 138, 2 3 2 120, 083 18, 149 Land Owner-occupied Nonprofit institutions 11 1 5 1 5 ,>470 1 5 0 1 ,8 2 9 1 6 4 0 ,,402 1765, 168 1921, 358 1 9 4 3 ,,902 2185, 462 2436, 702 638, 147 100, 8 0 8 3 3 9 ,,729 692, 209 1 1 1 ,,773 366, 313 4,,290 12 13 14 4 1 0 :,185 71,,823 1 8 2 ,946 4 3 8 ,.497 71,,227 2 0 8 ,,681 4 7 1 ,,326 75,,815 2 3 4 ,,216 5 0 8 ,,573 8 1 ,.060 2 5 9 ,,762 5 4 9 , 091 8 8 ,.533 2 8 7 ,,032 588, 662 90,,959 3 0 5 ,,172 16 216 590 1 ,290 2,,003 2,, 6 4 7 3,,620 17 18 19 20 21 155 73 46 26 ,200 ,267 ,445 ,230 592 157 74 46 27 ,999 ,779 ,968 ,575 236 160 73 48 25 ,005 ,996 ,149 ,946 -99 165 75 49 25 ,748 ,138 ,060 ,833 245 170 77 49 26 1 ,879 .334 ,695 ,507 ,132 188 86 50 30 5 ,911 ,380 ,249 ,281 ,850 193 86 51 29 6 ,320 ,779 ,219 ,295 ,265 22 23 24 25 32 10 36 2 ,506 ,573 ,662 ,192 32 9 38 2 ,087 ,575 ,766 ,792 32 9 40 4 ,094 ,602 ,250 ,063 34 9 41 4 ,854 ,098 ,747 ,911 36 9 42 5 ,531 ,040 ,186 ,788 41 10 44 6 ,151 ,362 ,191 ,827 38 14 45 7 ,208 ,619 ,989 ,725 8 ,,568 Total assets 8 9 10 11 D e p o s i t s 8 cr. mkt. instr. Checkable deposits 8 curr. S m a l l 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 2 0 5 ,,555 90,,521 51 • 8 6 6 32,, 5 3 5 6 ,120 36 19 48 10 financial 2 3 4 5 6 7 12 13 14 15 16 17 18 19 20 21 ,490 ,823 ,448 ,273 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 5 0 0 ,803 2 2 ,875 4 7 7 ,928 4 3 7 ,092 20 ,909 4 1 6 ,183 5 1 3 ,512 24 ,818 4 8 8 ,694 5 6 4 ,137 28 ,447 5 3 5 ,690 6 3 4 ,903 34 ,410 6 0 0 ,493 5 7 4 ,770 33 ,850 5 4 0 ,920 7 1 9 ,291 4 2 ,972 6 7 6 ,319 8 5 6 ,467 4 9 ,529 8 0 6 ,938 Corporate equities M u t u a l fund s h a r e s Other corporate equities 26 27 28 29 30 8 8 ,631 103 ,655 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 2 0 9 ,055 Life insurance reserves P e n s i o n fund r e s e r v e s 29 30 31 397 ,178 4 0 8 ,677 4 1 9 ,676 4 3 4 ,798 4 5 6 ,478 4 8 3 ,844 5 0 0 ,386 5 2 9 ,963 Equity 31 7 ,039 21 ,645 in noncorp. business 32 33 Security credit Miscellaneous assets 32 33 1 ,192 13 , 8 2 6 1 ,226 14 ,301 1 ,222 14 , 8 3 0 1 ,669 15 , 7 1 0 2 ,533 16 , 9 8 3 2 ,730 18 , 1 9 9 4 ,943 19 , 8 4 8 34 2 1 4 9 ,433 2 1 6 1 ,325 2 3 2 5 ,287 2 4 9 2 ,250 2 6 8 7 ,621 2 7 8 8 ,196 3 0 8 5 ,351 3439 ,124 35 242, 999 264, 475 293, 716 3 2 3 ,,267 354, 165 377, 983 403, 077 4 3 8 ,,980 36 37 38 231, 497 149, 541 9, 3 0 1 252, 811 163, 301 10, 2 8 8 279, 709 179, 8 6 4 11, 2 5 7 309, 040 1 9 7 ,-315 12, 2 5 8 338, 733 214, 287 13,,396 362, 142 228, 453 14, 5 6 2 382, 758 240, 744 15,.626 4 1 4 ,,918 2 5 7 ,,666 16,,701 40 41 46, 027 17, 4 3 4 50, 994 18, 3 6 8 57, 8 2 9 20, 069 65,,572 2 1 ,,808 73,,881 2 3 ,,628 79, 339 24, 110 8 3 ,,148 2 5 ,,448 91 , ,681 2 7 ,675 43 2,,217 6,,977 2,,116 7,,744 2,,283 8 ,407 2,,932 9 ,155 3,,571 9,, 9 7 0 3,.737 11,,941 4,,530 13 ,262 5 ,880 15 , 3 1 5 Bank loans n.e.c. Other loans 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,, 1 5 7 12 ,709 3 ,663 15 , 6 2 7 4 ,133 46 2 ,512 2 ,667 2 ,853 3 ,039 3 ,303 3 ,659 3 ,947 4 ,302 Security credit Trade credit D e f e r r e d and unpaid insurance premiums 47 1 9 0 6 ,434 1896 ,850 2 0 3 1 ,571 2 1 6 8 ,983 2 3 3 3 ,456 2 4 1 0 ,213 2 6 8 2 ,274 3 0 0 0 ,144 48 3 8 7 ,965 4 0 3 ,805 414 ,658 441 ,143 4 6 2 ,159 5 1 0 ,514 5 3 6 ,975 600 ,415 49 38.5% 40.4% 43.3% 44.7% 46.3% 44.7% 44.8% 4:2 . 9 % 50 4 5 ,839 49 ,822 5 3 ,668 58 ,217 63 ,747 70 ,602 74 ,639 8 2 ,395 7 9 ,13Q I n v e n t o r i e s of n o n d u r a b l e g o o d s . n o t i n c l u d e d in t o t a l s a b o v e 8 6 ,692 Total 35 liabilities Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons, credit Other consumer credit Net 36 37 38 39 40 41 42 43 44 45 life 46 47 worth Memo: 5 4 ,275 51 Data are in millions 56 ,692 of dollars. 58 ,990 62 ,654 67 ,463 73 ,918 Total owner-occ. real estate H o m e m o r t g a g e s a s p e r c e n t of owner-occ. real estate 48 Total 50 nonprofit real estate 49 51 S e p t e m b e r 1991 Households Households 22 Year-End Sector Balance Sheet with Tangible 1970 1971 1972 Trusts, and 1973 1974 Nonprofit Organizations 1975 1976 1 1 6 7 ,,540 1 2 7 8 ,091 1 4 1 1 ,,761 1 6 1 0 ,115 1846 ,295 1 9 9 9 ,707 2253 CO Personal Outstandings 1 0 9 6 ,,434 1 9 4 6 ,,103 5 3 7 ,.610 524, 443 13,,167 6 4 ,- 7 6 3 3 4 3 ,,730 1 0 0 9 ,,750 5 6 5 ,594 5 5 1 ,,874 13 .720 71,,722 3 7 2 ,,434 1 1 0 3 ,707 6 2 9 ,,273 6 1 4 ,337 14,,936 8 0 ,703 3 9 3 ,731 1 2 1 7 ,,683 704, 2 1 7 6 8 7 ,,415 16, 8 0 2 8 8 ,,782 4 2 4 ,,684 1 3 8 0 ,103 811 130 791 6 8 0 19 , 4 5 0 98 473 470, 500 1584 924 902 21 115 544 1719 1002 978 23 120 595 1915 1132 1106 26 129 652 ,331 ,835 , 144 ,691 ,743 ,753 2 3 4 5 6 7 Land Owner-occupied Nonprofit institutions 150,,331 131 ,,111 19,,220 157,,790 1 3 7 ,968 19 ,822 174 ,384 153,,584 2 0 ,800 1 9 4 ,,078 171 ,8 5 4 2 2 ,,224 230, 012 2 0 5 ,, 8 3 7 2 4 ,,175 2 4 1 1 ,,065 2 4 9 3 ,407 2 7 5 7 ,858 3 0 5 5 ,,975 3 0 9 5 ,,660 7 3 8 ,,225 109, 3 1 2 3 8 0 ,,693 7 9 0 ,814 1 1 7 ,885 4 1 0 ,738 8 6 1 ,876 1 2 9 ,926 4 7 8 ,497 9 4 5 ,,090 141 ,,742 5 4 7 ,,627 1 0 4 3 ,,056 150 , ,208 5 8 7 ,,155 Total assets financial assets Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. M o n e y m a r k e t fund shares Large time deposits 12 13 14 15 16 Cost Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables 1 Tangible 11 Current Year-End Households? 8 9 10 at Outstandings 1969 2 3 4 5 6 7 Assets Credit market instruments U.S. govt, securities Savings bonds Other Treasury issues Agency issues 17 18 19 20 21 ,521 ,847 ,948 ,899 ,495 ,179 ,067 r482 ,640 ,842 ,886 ,699 2 8 0 ,640 2 5 4 ,446 26 ,194 3 3 8 ,077 309 ,720 2 8 ,357 3 0 8 8 ,486 3531 ,279 3 9 9 1 ,879 11 1143 155 624 2 56 ,977 ,969 ,385 ,379 ,524 1247 161 721 3 37 ,126 ,409 ,008 ,696 ,237 1382 175 837 3 26 ,752 ,145 ,196 ,686 ,699 12 13 14 15 16 340 132 72 48 12 ,026 ,747 ,018 ,414 ,315 17 18 19 20 21 2 6 1 ,774 2 3 4 ,766 27 • 008 8 9 10 3,,197 15 ,282 13,, 6 4 7 16, 7 3 8 39,,125 2 4 5 ,,023 106,,603 5 1 ,,770 4 3 ,,528 11,,305 2 4 6 ,909 1 0 0 ,794 5 2 ,089 32,,762 15,,943 239, 8 0 6 90,,789 54, 4 1 6 2 1 ,.748 14,,625 238, 983 8 8 ,,336 57, 667 2 1 ,7 7 1 8 ,,898 266, 568 1 0 0 ,,328 60,,354 31 , 6 4 2 8,,332 3 0 4 ,720 112,,128 6 3 ,338 35,,121 13,,669 323 125 67 49 8 ,776 ,088 ,363 ,453 ,272 4 7 ,,144 33,,827 , 5 1 ,543 13 ,601 4 5 ,970 4 3 ,,225 48 873 10,,949 47, 684 4 6 ,,247 49, 8 2 5 6,,891 5 5 ,,136 4 9 ,917 4 8 ,838 12 ,349 62, 1 6 4 5 8 ,591 5 2 ,,138 19,,699 67 68 55 7 ,174 ,223 ,301 ,990 69 ,208 2 2 76,652 23 59 ,696 2 4 1 ,723 2 5 4 7 ,,244 2 4 ,662 50 • 669 15,,845 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 26 27 28 Corporate equities M u t u a l fund shares Other corporate equities 7 4 4 ,688 4 5 ,577 6 9 9 ,111 727 ,152 4 4 ,500 6 8 2 ,652 8 3 0 ,966 5 3 ,,006 7 7 7 ,960 9 1 8 ,,369 5 6 ,,383 8 6 1 ,,986 7 0 7 ,256 4 3 ,695 6 6 3 ,561 491 , ,676 31,,812 4 5 9 ,864 6 3 7 ,360 3 8 ,749 5 9 8 ,611 7 5 4 ,315 2 6 41 ,436 2 7 7 1 2 ,879 2 8 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 125 • 362 219 , 770 1 3 0 ,703 2 4 0 ,819 1 3 7 ,055 277 ,895 143,.930 3 3 1 ,,312 151 ,2 7 8 3 3 7 ,• 9 8 2 1 5 8 ,399 3 4 5 ,,327 1 6 6 ,483 4 4 4 ,059 1 7 5 ,268 5 0 7 ,488 29 30 31 Equity 5 5 4 ,036 5 7 3 ,218 6 1 6 ,529 6 8 0 ,,933 817, 098 9 0 8 ,,414 9 9 1 ,,231 1 1 2 0 ,,322 31 32 33 Security credit Miscellaneous assets 5 ,221 2 3 ,763 4 ,354 2 6 ,347 4 ,886 2 8 ,651 5,,022 31,,319 4,,866 34, 1 2 4 3,,891 36,,802 4 ,468 4 0 ,,552 5,,730 46,,004 32 33 3 5 0 7 ,499 3 6 6 0 ,947 4 0 3 5 ,949 4 4 6 7 ,,736 4 7 0 5 ,,775 4 9 3 4 ,,781 5 5 3 0 ,,986 6 2 4 5 ,287 34 4 7 0 ,266 4 9 2 ,640 541 ,434 6 0 7 ,,784 6 8 0 ,,419 730, 703 7 7 9 ,,621 8 7 3 ,,860 35 4 4 8 ,643 2 7 6 ,225 17 , 8 8 4 4 7 1 ,753 2 9 0 ,047 19 , 0 4 2 5 1 6 ,911 3 1 4 ,761 2 0 ,251 5 7 7 ,,635 3 5 3 ,,027 2 1 ,,547 101 ,161 2 8 ,280 105 ,528 2 8 ,489 118 ,255 31 , 4 7 8 133 ,173 35 ,596 6 5 3 ,,597 396 811 2 2 ,,640 400 1 5 5 ,108 38 ,378 703, 9 7 2 4 3 1 ,.433 2 3 ,,736 1,,300 164, 5 9 4 37,,885 7 5 0 ,,408 4 6 9 ,,666 2 4 ,,775 2,,700 168, 7 0 3 38, 8 8 1 8 3 8 -448 529, 438 2 5 ,.623 4,-700 188, 698 41, 735 36 37 38 39 40 41 6 ,794 18 , 2 9 9 7 ,747 2 0 ,900 9 ,893 22 ,273 10 , 6 8 4 2 3 ,608 14 ,086 2 6 ,,174 15,,640 2 9 ,,384 14, 1 3 9 31, 5 4 4 14, 8 6 8 33, 386 42 43 12 , 2 2 5 4 ,710 10 , 4 4 5 5 ,324 13 , 1 0 9 5 ,978 17 , 5 3 7 6 ,636 13 ,193 7 ,253 11,,387 8,,258 12, 1 1 3 9, 3 5 6 16, 5 1 1 4 4 10,.526 4 5 4 ,688 5 ,118 5 ,436 5 ,976 6 ,376 7,,086 7, 7 4 4 8 ,,375 4 6 3 0 3 7 ,233 3 1 6 8 ,307 3494 ,515 3 8 5 9 ,952 4 0 2 5 ,356 4 2 0 4 ,,078 4 7 5 1 ,,365 5 3 7 1 ,,427 4 7 655 ,554 689 ,842 7 6 7 ,921 8 5 9 ,269 9 9 7 ,517 1 1 3 7 ,714 1233,,086 1 4 1 5 ,,864 4 8 42.1% 42.0% 40.9% 41.0% 39.7% 37.9% 38.0% 37.3% 49 91 , 3 8 0 99 ,109 109 ,936 120 ,953 134 ,665 155 ,478 161 ,118 1 7 4 ,383 50 92 ,994 96 ,649 100 ,890 108 ,952 121 ,757 134 ,613 140 ,317 152,,061 51 in noncorp. 34 Total assets 35 Total liabilities Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons, credit Other consumer credit 36 37 38 39 40 41 42 43 Bank loans n.e.c. Other loans 44 45 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 46 47 business Net life worth Memo: 49 Total owner-occ. real estate H o m e m o r t g a g e s a s p e r c e n t of owner-occ. real estate 50 Tot&l 51 I n v e n t o r i e s of n o n d u r a b l e g o o d s , not i n c l u d e d in t o t a l s a b o v e 48 Data are nonprofit in real millions of estate dollars. S e p t e m b e r 1991 Households Households Sector Sheet with Tangible Assets at Current 23 Cost Year-End Outstandings 1 2614, 292 3077, 067 3505, 641 3874, 877 4257, 978 !I Yepr-End Balance 701 4 6 1 4 ,.510 4 8 9 4 ,.553 2 3 4 5 6 7 2194, 043 1326, 945 1296, 125 30, 8 2 0 141, 601 725, 497 2551, 222 1563, 035 1527, 137 35, 8 9 8 167, 725 820, 462 2876, 087 1775, 372 1734, 013 4 1 ,3 5 9 175, 421 925, 2 9 4 3 1 6 3 , 164 1949, 347 1902, 8 6 0 46, 487 193, 8 4 8 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 3 6 8 1 ,.087 2240, 810 2187, 547 53, 2 6 3 233, 395 1206, 8 8 2 3905, 2 2 5 2372, 946 2 3 1 6 ,,297 56, 649 246, 302 1285, 977 8 9 10 420, 249 388, 8 3 7 31, 4 1 2 525, 845 488, 684 37, 161 629, 554 589, 564 39, 9 9 0 711, 713 666, 001 45, 712 836, 063 783, 579 52, 484 841, 214 786, 8 1 2 54, 4 0 2 933, 4 2 3 8 7 5 ,.019 5 8 ,.404 989, 328 926, 5 1 9 6 2 ,.809 11 4 3 2 7 ,.302 4 8 6 8 ,.242 5624, 627 6 5 5 0 ,.017 7039, 001 7568, 142 8 3 4 7 ,,952 8877, 489 12 13 14 15 16 1538, 5 4 8 192, 181 9 3 2 ,.686 3, 4 4 3 34,,450 1715, 194 216, 799 998, 3 9 7 9,.436 64,,898 1932, 2 9 4 249, 544 1 0 5 8 ,.176 40, 032 72,,496 2 1 2 7 , 189 260, 339 1140, 680 64, 8 7 8 1 1 1 ,.935 2 3 5 7 ,.015 2 9 4 ,.345 1188, 185 1 5 5 ,.620 1 2 5 ,.986 2 5 7 9 , 148 3 1 4 ,.867 1 3 2 2 ,.485 189, 4 3 9 1 0 0 ,,761 2 8 7 0 ,,333 339-• 5 1 5 1 5 3 2 ,,562 158,,350 7 8 ,808 3 2 6 2 ,.918 3 5 5 ,,823 1 6 8 5 ,,706 2 0 2 ,,399 141,,926 17 18 19 20 21 3 7 5 ,,788 147 8 3 5 7 6 ,762 5 9 ,168 11 ,905 425 175 80 74 21 5 1 2 ,,046 2 3 5 ,,941 79 ,876 118 ,202 37 ,863 5 4 9 ,,357 2 6 9 ,,563 7 2 ,528 1 4 9 ,563 4 7 ,472 5 9 2 ,,879 291, 087 68,,190 1 7 3 ,768 4 9 ,,129 651, 5 9 6 3 3 3 ,,144 68,,346 219, 475 4 5 ,323 761 405 71 288 46 ,098 ,827 ,485 ,274 ,068 8 7 7 ,064 4 9 6 ,843 74 , 5 1 5 3 4 3 :, 4 2 6 78 ,902 ,895 ,077 ,534 ,447 69 73 75 30 128 45 126 18 156 37 127 34 ,264 ,620 ,073 ,314 180 32 128 38 1979 Households, 65 80 66 15 22 23 24 25 • 664 ,824 ,691 ,066 ,067 ,661 ,835 ,957 ,387 77 71 89 37 1981 1980 Personal ,384 ,468 ,426 ,827 Trusts, 78 52 106 41 ,578 ,822 ,981 ,413 and 99 53 117 31 ,810 ,526 ,346 ,110 1983 1982 Nonprofit Outstandings 1984 Organizations ,139 ,972 ,082 ,259 Tangible assets 1 Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Land Owner-occupied Nonprofit institutions Total financial 2 3 4 5 6 7 8 9 10 11 assets Deposits 8 cr. mkt. instr. Checkable deposits 8 curr. Small time 8 savings dep. M o n e y market fund shares Large time deposits Credit market instruments U.S. govt. securities Savings bonds Other Treasury issues Agency issues 12 13 14 15 16 17 18 19 20 21 ,689 ,633 ,160 ,739 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 22 23 24 25 26 27 28 7 0 8 ,824 4 0 ,354 668 ,470 704 ,952 41 ,079 663 ,873 8 5 6 ,953 44 ,797 8 1 2 ,156 1 1 6 4 ,509 5 2 ,059 1 1 1 2 ,450 1 1 0 4 ,995 5 2 ,639 1 0 5 2 ,356 1241 ,058 66 ,696 1174 ,362 1421 ,984 97 ,96? 1324 ,017 1440 ,148 117 ,685 1 3 2 2 ,463 Corporate equities M u t u a l fund shares Other corporate equities 26 27 28 29 30 184 ,802 5 6 0 ,329 195 ,992 661 ,515 206 ,692 767 ,072 2 1 6 ,427 916 ,065 2 2 5 ,627 9 9 6 ,943 2 3 2 ,799 1179 ,220 2 4 0 ,792 1392 ,082 2 4 5 ,994 1531 ,982 Life insurance reserves P e n s i o n fund r e s e r v e s 29 30 31 1276 ,117 1522 ,524 1784 ,529 2 0 3 7 ,217 2 2 6 1 ,186 2 2 3 2 ,783 2301 ,629 2 2 7 2 ,334 Equity 31 32 33 5 ,739 5 2 ,943 8 ,521 59 ,544 10 ,354 66 ,733 16 , 2 3 6 72 ,374 14 , 7 2 9 78 ,506 17 , 8 3 8 8 5 ,296 20 ,557 100 ,575 21 ,573 102 ,540 34 6941 ,594 7945 ,309 9 1 3 0 ,268 1 0 4 2 4 ,894 11296 ,979 1 1 8 3 6 ,843 12962 ,462 13772 ,042 Total assets 34 35 1014 ,303 1182 ,930 1358 ,213 1488 ,745 1611 ,219 1694 ,344 1873 ,407 2 1 0 2 ,151 Total liabilities 35 1138 727 28 10 264 47 1310 846 29 13 300 52 1430 942 31 16 302 53 1549 1020 33 21 315 56 1626 1059 36 29 330 58 1791 1156 38 41 374 63 2018 1290 41 51 449 69 36 37 38 39 40 41 974 619 26 8 223 43 ,474 ,185 ,730 ,100 ,669 ,483 ,333 ,675 ,056 ,700 ,712 ,570 ,391 ,880 ,559 ,600 ,313 ,448 ,156 ,376 ,486 ,700 ,062 ,329 ,209 ,313 ,781 ,100 ,546 ,750 ,299 ,685 ,428 ,600 ,414 ,330 ,947 ,047 ,917 ,000 ,475 ,174 ,770 ,132 ,368 ,171 ,499 ,812 in noncorp. business 32 33 Security credit Miscellaneous assets Credit market instruments Home mortgages Other mortgages T a x - e x e m p t debt Installment cons. credit Other consumer credit 42 43 17 ,591 35 ,716 2 0 ,096 39 ,524 21 ,673 45 ,918 29 ,469 54 ,734 35 ,929 65 ,790 38 ,604 73 ,238 41 ,825 76 , 5 0 9 37 ,345 79 ,443 Bank loans n.e.c. Other loans 44 45 18 ,861 11 , 6 8 4 21 ,047 13 , 2 0 1 21 ,254 14 , 8 7 6 2 8 ,492 17 , 1 5 8 2 7 ,465 19 , 8 2 3 30 ,310 2 2 ,220 39 ,741 2 5 ,620 37 ,336 30 ,937 46 9 ,284 10 ,349 11 , 6 9 2 12 , 9 3 9 14 , 7 2 2 15 , 5 1 5 16 , 0 9 9 15 , 1 0 8 Security credit Trade credit D e f e r r e d and u n p a i d insurance premiums 47 5 9 2 7 ,291 6762 ,379 7 7 7 2 ,055 8 9 3 6 ,149 9685 ,760 1 0 1 4 2 ,499 11089 ,055 1 1 6 6 9 ,891 2 5 6 8 ,861 2 8 4 5 ,630 2 8 0 4 ,279 3 0 6 2 ,566 3 2 4 2 ,816 36.6% 35.8% 37.7% 37.7% 39.7% Net 36 37 38 39 40 41 42 43 44 45 life 46 47 worth Memo: 48 1684 ,962 49 2 0 1 5 ,821 2 3 2 3 ,577 36.0% 36.7% 36.4% 298,268 51 Data 164,441 are in 182,465 millions of 202,314 dollars. 342,508 Total owner-occ. real estate H o m e m o r t g a g e s as p e r c e n t of owner-occ. real estate 48 Total 50 nonprofit real estate I n v e n t o r i e s of n o n d u r a b l e g o o d s , 284,348 n o t i n c l u d e d in t o t a l s a b o v e 49 51 S e p t e m b e r 1991 Households Households 24 Year-End Sector Balance Sheet with Tangible 11 1986 1987 1988 Personal Trusts, and 1989 1990 Nonprofit Organizations Outstandings 5624, 6169, 317 6559, 395 7057,,278 7075,,983 1 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, 3110, 3041, 68, 290, 1805, 672 464 797 667 585 623 5598, 678 3355,.380 3282, 492 72,,888 309,.489 1933,,809 5760,,163 3420 • 396 3347,,875 72,,521 316,,115 2023,,652 2 3 4 5 6 7 Land Owner-occupied 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 1315, 820 1238, 714 77,,106 8 9 10 assets financial assets 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 17 18 19 20 21 CO 5187, 431 Total 12 13 14 15 16 Cost Reproducible assets Residential structures Owner-occupied housing Nonprofit institutions Nonprofit plant 8 equip. Consumer durables Tangible 8 9 10 Current Year-End Households, 1 at Outstandings 1985 2 3 4 5 6 7 Assets 9940,,615 10882, 983 11451, 874 12460, 395 13854 ,502 14005,,712 11 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 5152,,820 497,,804 2227,,760 383 ,573 220,,864 5469, 416 516, 666 2276,,983 442 .841 185,,902 12 13 14 15 16 1043,,099 569 ,811 79 • 777 390 ,035 99 ,999 1115 575 93 388 93 1320,,346 649,,472 101,,103 413,,188 135,,181 1581,,272 791,.526 109,,556 464, 645 217,,325 1822,,819 937,,098 117 ,725 504,,987 314,,386 2047,,024 1073,,521 126,,213 599,,839 347,,469 17 18 19 20 21 ,857 ,032 ,083 ,902 319,,230 100,,444 189,,075 180,,997 346,,596 130 ,534 220,,874 187 ,717 343,,338 180,,591 245,,319 204,,255 22 23 24 25 218 37 127 89 ,786 ,116 ,504 ,882 197 90 148 104 ,837 ,230 ,332 ,261 ,637 255 114 169 131 22 23 24 25 Tax-exempt obligations Corporate 8 fgn. bonds Mortgages Open-market paper 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 2615 ,391 476,,186 2139 ,205 2329,,955 497,,522 1832,,433 26 27 28 29 30 Life insurance reserves P e n s i o n fund r e s e r v e s 256 ,711 1801 ,839 274 ,226 2031 ,780 300 ,272 2201 ,865 325,,536 2482,,438 351 ,772 284 7 ,999 385,,089 2 9 1 1 ,, 7 9 9 29 30 31 Equity 2245 ,791 2298 ,363 2414 ,953 2492,,752 2633 ,542 2634 ,749 31 32 33 Security credit Miscellaneous assets 35 ,051 132 ,952 44 ,015 149 ,310 39 ,103 171 ,118 40,,886 188,, 148 53 ,190 199 ,788 62 ,425 212,,279 32 33 15128 ,046 16507 ,796 17621 ,191 19019,,790 20911 ,780 21081 ,695 34 2401 ,500 2711 ,374 2984 ,246 3304,,187 3620 ,662 3971 ,221 35 2296 1440 43 81 526 75 2596 1667 49 79 581 ,080 ,304 ,874 ,142 ,761 78 , 0 0 5 2879 ,137 1887 ,789 82 ,180 78 ,178 619,,766 73,, 4 7 4 3191,,475 2118,,505 109,,210 79,,049 674 ,719 3501 2352 122 80 727 384 7 2660 133 85 748 ,190 ,702 ,537 ,851 ,300 36 37 38 39 40 50 ,568 43 ,529 97,,712 in noncorp. 34 Total assets 35 Total liabilities 36 37 38 39 40 business Credit market instruments Home mortgages Other mortgages Tax-exempt debt Installment cons. credit Other consumer credit 41 ,034 ,606 ,770 ,334 ,468 , , , , 111 482 818 196 60 ,647 41 42 100 ,354 46 ,056 112,,097 53 ,459 43 ,803 54 ,298 48 ,799 52 ,893 54 ,638 44 45 15 , 0 9 3 15,, 4 5 0 15 , 8 0 7 16 , 5 0 0 46 13796 ,422 14636 ,945 15715 ,603 17291 ,118 17110 ,474 47 3410 ,978 3696 ,408 4086 ,543 4319,,352 4661 ,139 4586 ,589 48 42.2% 45.1% 46.1% 49.0% 50.4% 58.0% 49 353 ,475 366 ,207 388 ,602 401 ,213 426 ,952 428,,923 50 304 ,362 324 ,958 353 ,107 378,,038 397 ,383 423 ,278 51 ,332 42 43 Bank loans n.e.c. Other loans 44 ,246 84 ,278 89 ,426 45 ,361 92,, 3 8 9 44 45 Security credit Trade credit D e f e r r e d and unpaid insurance premiums 56 ,779 33 ,478 64 , 9 7 9 36 , 4 3 0 50 ,351 39 , 6 6 5 15 ,209 13 , 8 8 5 12726 ,546 46 47 Net 68,,751 ,758 ,471 ,595 ,712 ,561 62 ,995 55 ,070 43 life worth Memo; 48 49 Total owner-occ. real estate H o m e m o r t g a g e s as p e r c e n t of owner-occ. real estate 50 Total 51 I n v e n t o r i e s of n o n d u r a b l e g o o d s * not i n c l u d e d in t o t a l s a b o v e Data are nonprofit in real millions of estate dollars. S e p t e m b e r 1991 Farm & Noncorporate Business Farm Sector Year-End Balance Sheets with Tangible Assets at Current 1948 1 78 ,589 92 ,887 2 3 4 5 32 ,575 ,393 7 ,037 14 , 1 4 5 41 13 9 19 1 0 0 ,571 48 15 11 21 ,800 ,158 ,003 ,639 ,147 ,191 ,918 ,038 1949 101 ,394 ,106 ,266 ,536 ,304 49 16 16 16 ,967 ,841 ,462 ,664 122 ,739 59 17 19 22 136,402 136,859 ,398 ,937 ,007 ,454 65,202 18,854 21,440 24,908 65,178 19,121 22,750 23,307 6 4 6 ,014 51 ,087 5 2 ,424 5 3 ,226 51 ,427 6 3 ,341 71,200 71,681 7 5 ,328 7 ,185 8 ,369 8 ,459 8 ,035 8 ,068 8,327 8,314 8 9 10 11 4 ,600 728 548 180 6 ,400 785 645 140 7 ,500 869 753 116 7 ,500 959 844 115 7 ,000 1 ,035 918 117 7 ,000 1,, 0 6 8 949 119 7,200 1,127 1,005 122 7,100 1,214 12 8 3 ,917 100 ,072 108 ,940 111 ,791 1 0 9 ,429 130 ,807 13 7 ,179 7 ,599 8 ,297 9 ,294 9 ,880 11 ,221 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 20 586 643 873 1 ,212 1 ,406 1,,689 2,125 2,270 21 22 23 76 ,738 1,,265 7 5 ,473 92 ,473 1 ,548 90 ,925 1 0 0 ,,643 1,, 6 7 2 98,,971 102,, 4 9 7 1,, 6 9 7 100,,800 99,,549 1,,627 97,,922 1 1 9 ,,586 2,,010 117, 5 7 6 131,785 2,246 129,539 24 6 0 ,,526 68 ,700 73, 4 7 2 76,,032 7 5 ,,075 88, 949 Nonfarm 106 ,218 2 3 4 5 69 48 14 6 6 7 8 9 10 11 12 13 121 , 7 6 7 ,610 ,088 ,609 ,913 138 ,660 Noncorporate 1,088 126 2 3 4 5 Land 6 Total Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 13,879 Total liabilities 13 11,609 7,236 3,293 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 14 15 16 17 Trade debt 20 131,294 2,345 128,949 Net worth Corporate farms Noncorporate farms 21 100,009 Memo: Total 179 ,962 Tangible 1,080 213 867 149 ,067 152 ,572 165 ,420 175 ,759 105 67 26 11 115 71 30 13 122 75 33 14 4 2 ,833 4 5 ,269 4 7 ,276 5 0 ,123 5 2 ,981 55 ,322 18 , 3 0 2 18 , 6 6 0 19 ,424 21 ,197 21 ,595 22 ,689 9 ,726 9 ,737 1 0 ,101 9 ,949 - 10 ,315 10 , 5 3 8 10 , 7 7 7 10 ,429 ,296 ,467 ,796 ,033 ,297 ,745 ,090 ,462 ,778 ,397 ,166 ,215 124 76 34 13 ,640 ,636 ,122 ,882 2 ,175 2 ,300 2 ,674 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 1 2 2 ,110 138 ,968 156 ,962 167 ,727 171 ,996 186 ,617 197 ,354 19 8 ,641 12 , 0 4 3 13 , 9 4 2 15 , 4 4 5 16 ,086 19 , 0 5 2 2 0 ,194 21 ,996 T o t a l 20 21 23 24 6 ,097 3,,828 291 2,,841 696 8 ,351 4 ,486 659 3 ,016 811 9,, 5 6 0 5,, 0 7 0 872 3,,275 923 10 ,335 5 ,810 1.,093 3,,713 1,,004 1 0 ,836 6 ,361 1,,031 4,, 2 9 7 1,,033 12,, 7 9 2 7,,511 1 ,428 : 5,,034 1,,049 14 , 1 1 7 8,, 1 6 7 1,,364 5,,705 1,,098 15 , 4 5 2 8 ,857 1 ,587 6 ,128 1,, 1 4 2 25 2b 325 1,,944 965 2 ,900 1,, 3 2 2 3,,168 1,,066 3,,459 833 3,,642 1,,278 4,,003 1,,508 4,.442 1,,721 4,,874 27 28 2,, 5 4 4 3,, 6 9 2 5,,250 6, 2 6 0 6, 0 7 7 - - - - - - 6,,544 - Total 152, 2 8 2 155, 9 1 0 167, 5 6 5 177, 160 180, 6 5 5 Net 31 93,,779 105, 8 5 3 119, 026 125, 8 0 2 129, 187 137, 609 145, 4 6 9 149, 376 Memo: Total dollars. taxes debt payable Miscellaneous 143, 0 2 0 of liabilities Other Trade 126,,925 millions 18 Bank loans n.e.c. Other loans 113,,469 in assets Credit market instruments Mortgages Home mortgages Multifamily Commercial 30 are 7 14 15 16 17 1 ,811 5 ,995 2 0 2 ,651 assets Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 1 ,574 5 ,934 - financial 8 9 10 11 12 13 1 ,267 - 1 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 5 ,864 - assets 6 1 ,003 - estate Land Total 5 ,553 - 23 2 3 4 5 850 - 19 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 4 ,548 - real 18 Business 17 ,201 29 9 10 11 12,944 103 66 25 11 5,,110 7 8 10,819 6,651 3,120 1,048 199 849 39 ,545 - assets 12 15 , 8 9 2 4 ,382 financial assets 36 ,608 - 1 assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Total 95 ,827 6 2 ,581 22,, 8 8 4 10 , 3 6 2 ,798 ,072 ,727 ,999 Tangible 145,173 ,222 ,867 ,466 ,889 82 54 18 8 Outstandings Business 103 ,332 50 16 14 19 Business 25 Year-End Farm Data Noncorporate Outstandings 1947 1 8 Cost liabilities worth real 19 20 21 22 23 24 25 26 27 28 29 30 estate 31 S e p t e m b e r 1991 Farm 8 Noncorporate Business 2 6 Year-End Farm Sector Balance Sheets with Tangible Assets at Current 8 Noncorporate Business Cost Outstandings Year-End Outstandings 1959 Farm 1 Tangible assets 134 ,811 137 ,732 142 431 150 ,569 158 ,662 169 ,340 1 7 5 ,951 178 ,418 1 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 64 19 23 22 6 Land 70 ,295 73 ,520 78 082 8 5 ,008 91 , 4 8 1 100 ,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 ,364 1 ,227 137 6 900 1 4 72 1 324 148 6 ,700 1 ,551 1 ,390 161 6 ,600 1 ,618 1 ,446 172 6 ,900 1 ,684 1 ,502 182 6 ,200 1 ,782 1 ,584 198 5 ,800 1 ,846 1 ,635 211 8 9 10 11 143 ,102 145 ,996 150: 8 0 3 158,, 8 2 0 166 ,880 177,, 9 2 4 183 ,933 1 8 6 ,064 12 7 Total 8 9 10 11 financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 12 T o t a l assets 13 T o t a l liabilities 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 22 23 Net worth Corporate farms Noncorporate farms 24 Memo: Total real estate ,516 ,151 ,365 ,000 64 19 23 21 ,212 ,342 ,670 ,200 64 349 19 6 3 9 24 810 19 9 0 0 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets 8 9 10 11 12 13 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 14 15 16 17 Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 18 T o t a l assets 19 T o t a l liabilities 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial 25 26 Bank loans n.e.c. Other loans 27 Other taxes 28 Trade debt 29 Miscellaneous 30 Net are real in estate millions of dollars. 67 19 26 21 , 181 ,610 ,371 ,200 68 19 26 22 ,904 ,437 ,867 ,600 68 19 27 22 ,969 ,382 ,487 ,100 70 19 27 23 ,125 ,235 ,590 ,300 2 3 4 5 14 , 4 3 5 16, 0 5 8 16,, 9 8 2 18,, 2 7 4 2 0 ,,078 2 2 ,,433 23,,623 13 1 2 ,281 8 ,246 2,, 8 6 2 1,,173 508 665 13, 7 2 3 9, 0 2 2 3, 4 3 4 1, 2 6 7 574 693 14, 5 8 1 9,,835 3, 3 7 5 1,• 3 7 1 624 747 15,,638 10,, 3 9 7 3,,759 ,482 550 932 17,,002 11,,109 4,,172 1,,721 565 1, 1 5 6 18,,934 12,,101 4,,866 967 577 1,.390 19,,965 12,,838 5,,062 2, 0 6 5 564 1.,501 14 15 16 17 18 19 2,,053 2,,154 2, 3 3 5 2, 401 2, 6 3 6 3, 0 7 6 3, 4 9 9 3, 6 5 8 20 129, 5 4 0 2, 4 0 1 127, 139 131, 561 2, 5 9 9 128, 9 6 2 134, 745 2, 8 2 8 131, 917 141, 8 3 8 3, 2 3 0 138, 608 148, 606 3, 6 3 7 144, 969 157, 8 4 6 4 , 121 153, 725 161, 5 0 0 4, 486 157, 014 162, 441 4, 8 2 0 157, 621 21 22 23 98, 871 102, 5 4 0 1 0 8 , 171 116, 116 122, 708 131, 529 138, 360 139, 693 24 184 ,512 189 ,980 2 0 0 ,657 126 77 35 14 129 78 36 14 136 81 40 15 ,723 ,081 ,264 ,378 ,181 ,479 ,426 ,276 ,513 ,055 ,303 ,155 Noncorporate Business 211 ,872 2 1 9 ,296 2 2 5 ,664 2 3 3 ,370 2 4 0 ,944 1 143 82 44 15 146 83 46 16 149 84 48 16 153 86 50 16 156 88 51 16 2 3 4 5 ,112 ,643 ,579 ,890 ,705 ,342 ,993 ,370 ,568 ,562 ,120 ,886 ,684 ,705 ,098 ,881 ,363 ,475 ,270 ,618 5 7 ,789 6 0 ,799 64 ,144 68 ,760 72,,591 7 6 ,096 79 ,686 8 4 ,581 6 2 3 ,, 3 5 0 2 4 ,018 2 4 ,300 2 6 ,079 2 6 ,, 4 2 7 2 8 ,, 8 3 7 2 7 ,268 2 7 ,,211 7 10 ,377 10,, 9 0 7 11,, 2 0 0 11 ,549 12,,356 13,,641 12,,707 12,,415 8 2,,802 2,,804 10 11 8 ,,233 8 ,,174 1, 9 3 8 1, 9 1 9 19 2,,910 3,,066 3,,107 3, 1 1 0 3,,431 3, 2 0 7 7,,907 9,,051 8, 378 9, 3 7 7 8 ,,234 8, 554 13 2 ,,133 2, 113 20 2, 2 8 3 2,,262 21 2,,413 2,,392 21 2, 5 8 6 2, 5 6 0 26 2, 709 2, 677 32 2,,896 2,,856 40 3, 0 3 5 2, 987 48 14 15 16 17 207, 862 213, 998 224, 957 2 3 7 ,,951 245, 723 254, 501 - 23,297 25,902 28,920 30,985 31,862 34,000 35,630 38,345 19 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 20 21 22 23 24 1,782 5,039 1,*66 5,236 2,388 5,844 2,993 6,139 3,078 6,651 3,239 6,859 3,632 7,714 3,969 8,705 25 26 - - liabilities ,561 ,759 ,902 ,900 11 , 5 0 9 7 ,737 2 ,712 1,, 0 6 0 445 615 7,269 worth Memo: Total Data payable 65 19 25 19 13 , 5 6 2 Nonfarm 31 1960 Business - 8,877 - 10,060 - 184,565 188,096 196,037 152,559 157,556 165,439 10,988 - 10,987 _ „ 11,626 . 260, 638 . 10,750 „ 2 6 8 , 155 18 - 2 7 11,228 - 229,810 28 -»« 30 S e p t e m b e r 1991 Farm 8 Noncorporate Business Farm Sector Year-End Balance Sheets with Tangible Assets at Current 8 Noncorporate Cost Business £~J Outstandings Year-End Outstandings 1966 Farm 1 184 ,962 70 19 27 23 2 3 4 5 192,, 2 4 4 ,946 ,186 ,960 ,800 73 19 28 25 2 0 1 ,468 ,044 ,091 ,753 ,200 74 18 29 25 ,381 ,795 ,886 ,700 Business 2 0 9 ,964 74 19 31 24 2 2 6 ,785 ,736 ,129 ,107 ,500 80 19 33 28 ,492 ,179 ,313 ,000 2 3 7 ,794 83 20 36 27 ,516 ,011 ,105 ,400 2 5 0 ,584 87 20 38 27 ,017 ,517 ,600 ,900 2 6 2 ,714 93 22 41 29 ,008 ,070 ,838 ,100 Tangible assets 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 6 1 1 4 ,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 1 ,965 1 ,724 241 5 ,700 2 ,125 ,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,, 5 5 3 414 6 ,300 3 ,346 2 ,830 516 12 192 ,693 2 0 0 ,109 2 0 9 ,293 2 1 8 ,181 2 3 5 ,282 2 4 6 ,498 2 5 9 ,651 2 7 2 ,360 Total assets Total liabilities Total financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 12 13 2 5 ,322 2 7 ,626 31,, 0 3 8 33 ,827 37,,674 4 1 ,,274 4 4 ,, 3 7 7 4 6 ,170 14 15 16 17 18 19 21 13 5 2 ,558 ,917 ,305 ,336 686 1 ,650 2 3 ,,856 15 , 1 9 3 6 ,087 2,, 5 7 6 736 1,, 8 4 0 2 6 ,, 4 0 6 16 , 8 2 2 6 ,688 2,,896 797 2,,099 2 9 ,009 18 , 9 4 2 6 ,959 3,, 1 0 8 861 2 ,247 32,,311 2 1 ,187 7,,667 3,,457 941 2,,516 3 5 ,504 2 3 ,,052 8 ,,600 3, 8 5 2 929 2,,923 38,,815 2 5 ,, 0 1 7 9,,300 4,,498 1,,087 3,,411 4 1 ,,583 2 7 ,, 1 7 7 9,,718 4 ,688 1,,034 3 ,654 20 3,,764 3,, 7 7 0 4,, 6 3 2 4 ,818 5, 3 6 3 5,,770 5,,562 4,,587 21 22 23 1 6 7 ,371 5 ,294 1 6 2 ,077 172,,483 5,, 7 8 0 166,,703 1 7 8 ,,255 6,,299 1 7 1 ,,956 184,,354 6 ,793 177,,561 197, 608 7, 6 2 5 189, 9 8 3 205, 224 8 ,,159 1 9 7 ,,065 2 1 5 ,,274 8, 8 6 1 2 0 6 ,,413 2 2 6 ,,190 N e t w o r t h Corporate farms 9, 6 8 2 Noncorporate farms 2 1 6 ,,508 24 145,,825 151, 4 9 5 1 5 9 ,,690 168,,749 180, 759 190, 7 3 8 201, 447 210, 983 Memo: Total Tangible Nonfarm Noncorporate 1 2 4 7 ,608 2 5 7 ,071 2 6 5 .377 2 7 9 ,761 2 9 4 ,810 159 91 52 15 165 94 54 15 170 97 57 15 180 104 61 15 191 109 66 15 ,313 ,537 ,996 ,780 .112 ,334 ,649 ,129 ,278 ,041 ,148 ,089 14 15 16 17 18 19 Trade 20 ,359 ,329 ,192 ,838 319 ,046 332 ,654 361 ,384 207 118 72 16 218 123 77 17 242 139 85 17 ,152 ,118 ,705 ,329 ,508 ,952 ,454 ,102 ,380 ,706 ,050 ,624 95 ,265 99 ,483 103 ,451 111 ,894 114 ,146 2 7 ,624 2 7 ,579 2 8 ,205 2 8 ,572 29 ,442 30 ,359 2 9 ,654 T o t a l 8 9 10 11 12 13 12 , 5 1 5 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 12 ,515 3 .135 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 14 15 16 17 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 18 2 7 5 ,,363 2 8 4 ,, 6 9 5 2 9 2 ,, 9 5 6 3 0 7 ,, 9 6 6 3 2 3 ,382 3 4 8 ,,488 3 6 3 ,013 119 ,004 3 9 1 ,,038 Total 4 2 ,,721 4 5 ,,236 5 0 ,,729 5 6 ,, 8 8 7 6 1 ,>709 69,, 0 4 0 77,,583 T o t a l 32,, 6 7 2 18,, 7 7 2 2,,001 13,,585 3,,186 37,, 0 0 4 2 1 ,,424 2,, 0 0 2 15,,825 3, 5 9 7 4 3 ,,234 2 5 ,,877 1,, 9 0 2 19,,095 4,,880 5 0 ,, 2 5 7 30,, 7 5 0 1,, 9 9 7 2 1 ,,846 6,, 9 0 7 56, 6 2 3 34, 761 1, 5 9 8 24, 2 4 5 8, 918 63,, 8 5 7 4 0 ,,883 2,, 1 0 2 2 7 ,,045 11,,736 73,,404 4 7 ,,833 2,,224 2 9 ,,449 16,,160 25 26 4, 345 8, 8 8 5 4,,716 9, 1 8 4 5, 3 0 8 10, 2 7 2 5,,806 11, 5 5 1 6,,708 12,,799 8, 079 13, 7 8 3 8 ,,784 14,,190 9, 8 6 6 15,,705 27 28 10, 6 1 9 10, 0 4 9 8, 2 3 2 7, 4 9 5 5. 086 5, 1 8 3 4, 179 - - - - - 257, 237 266. 495 286. 779 293, 973 313, 4 5 5 Net 31 207, 341 216. 263 224.556 237. 636 250. 257 271, 116 281, 664 307, 138 Memo: Total dollars. taxes debt payable Miscellaneous 247. 720 of liabilities Other Trade 241, 974 in m i l l i o n s 7 18 Bank loans n.e.c. Other loans 2 3 5 , 101 are assets Credit market instruments Mortgages Home mortgages Multifamily Commercial 30 Data assets 14 15 16 17 4 0 ,,262 - financial Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 2 9 ,,643 16,,413 1,,821 11 = 7 8 5 2, 8 0 7 - 1 8 9 10 11 12 13 19 6, 6 3 0 assets Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 20 21 22 23 24 - 24 6 91 , 7 5 8 2 7 ,755 - estate Land 8 8 ,244 29 real 21 23 2 3 4 5 6 - debt Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 7 - 13 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks Business 2 3 4 5 ,364 ,048 ,717 ,599 7 8 9 10 11 liabilities worth real 19 20 21 23 24 25 26 27 28 29 30 estate 31 S e p t e m b e r 1991 Farm 8 Noncorporate Business 28 Year-End Farm Sector Balance Sheets with Tangible Assets at Current 8 Noncorporate Business Cost Outstandings Year-End Outstandings 1971 Farm 1 Tangible 2 3 4 5 6 7 2 7 3 .174 281 ,288 303 ,422 343 ,224 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 100 23 45 31 104 23 49 31 114 25 53 35 130 27 59 44 Land 172 ,378 176 ,962 188 ,866 2 1 2 ,725 2 6 7 ,158 2 9 6 ,963 10 ,182 10 , 7 8 6 11 , 4 7 7 12 ,413 13 , 2 5 6 13 , 8 5 0 6 ,400 3 ,782 3 ,211 571 6 ,515 4 ,271 3 ,649 622 6 ,638 4 ,839 4 ,147 692 6 ,900 5 ,513 4 ,731 782 7 ,100 6 ,156 5 ,214 942 6 ,940 6 ,910 5 ,762 1, 1 4 8 2 8 3 ,356 2 9 2 ,074 314,, 8 9 9 355 ,637 441 ,997 4 8 9 ,578 4 8 ,827 51 ,430 5 5 ,555 61 , 3 4 7 70,, 0 6 7 44 • 617 2 8 ,995 10,,328 5 ,294 1,,019 4 ,275 47 30 11 5 ,588 ,492 ,155 ,941 967 4 ,974 51,, 5 6 4 32,,381 12,,500 6,,683 1,,014 5 !,669 5 6 ,813 3 5 ,361 14,,306 7,,146 1 ,0 5 0 6,,096 65,,410 39,,806 17,,165 8 ,,439 1,,241 7,,198 4,,210 31,842 3, 9 9 1 4 = ,534 4, 6 5 7 234, 529 10, 4 0 3 224, 126 240, 644 10, 8 8 9 229, 755 259, 344 11 , 9 2 3 247, 421 294, 290 13, 769 280, 521 217, 097 224, 525 240, 908 268, 703 Total 8 9 10 11 assets financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 12 T o t a l assets 13 T o t a l liabilities 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 w o r t h 22Corporate farms 23 Noncorporate farms Memo: Total 24 real estate ,796 ,387 ,609 ,800 ,326 ,998 ,228 ,100 ,556 ,515 ,641 ,400 Nonfarm 1 Tangible 2 3 4 5 6 7 assets 392 ,318 4 1 4 ,290 6 14 ,847 16 , 2 7 3 7 ,010 ,837 ,453 ,384 6 ,947 9 ,326 7 ,718 1 ,608 8 9 10 11 5 4 9 ,006 6 3 1 ,156 12 78 ,199 8 7 ,,475 9 8 ,321 13 73 ,319 4 4 ,922 18,,236 10,,161 1,,313 8,,848 8 2 ,136 4 9 ,,853 2 0 ,,199 1 2 =-084 2,,089 9, 9 9 5 92 , 180 5 5 ,,412 2 3 ,,230 13, 5 3 8 2,,226 11,,312 14 15 16 17 18 19 4,,880 5, 339 6,,141 20 371, 930 17, 9 8 8 353, 942 4 1 1 ,,379 20, 912 390, 4 6 7 461, 531 25, 106 436, 425 532, 835 30,680 5 0 2 , 155 21 22 23 329, 156 369, 480 420, 987 499, 785 24 6 8 7 ,699 741 ,703 8 2 2 ,646 1 481 278 172 29 511 299 184 27 558 333 197 27 2 3 4 5 7 7 6 1 Business 4 1 7 ,227 4 5 8 ,444 5 1 7 ,207 5 9 7 ,266 288 165 104 19 322 185 115 21 362 212 126 24 417 246 143 27 154 ,366 180 ,207 2 0 6 ,440 2 3 0 ,078 2 6 4 ,035 6 46 ,149 64 ,436 69 ,236 71 , 0 8 5 79 ,890 7 12 ,515 500 3 ,754 300 8 ,110 12 ,515 1 ,400 700 3 ,875 700 6 ,623 12 , 5 1 5 3 ,000 900 3 ,776 1 ,875 8 ,123 12 ,515 4 ,600 1 ,100 3 ,694 3 ,000 8 ,770 16 , 9 1 4 6 ,213 1 ,183 4 ,019 3 ,285 18 , 6 2 6 17 ,263 7 ,784 1 ,238 4 ,048 3 ,393 2 0 ,368 17 8 1 4 3 21 5 ,998 5 ,846 152 6 ,682 6 ,515 167 9 ,476 7 ,296 180 2,, 0 0 0 12 ,470 8 ,278 192 4 ,000 14 , 1 9 6 9 ,243 212 4 ,741 15 , 1 4 2 10 ,229 246 4 ,667 4 2 3 ,,495 4 4 9 ,, 7 2 2 4 9 8 ,,109 5 6 3 ,, 3 5 6 6 6 1 ,, 7 0 2 7 5 6 ,935 assets liabilities Bank loans n.e.c. Other loans taxes debt payable Other Trade 29 Miscellaneous liabilities worth Memo: Total Data 343 ,289 39 ,665 28 31 2 3 4 5 135 ,600 Credit market instruments Mortgages Home mortgages Multifamily Commercial 30 Net ,593 ,804 ,589 ,200 32 ,495 19 T o t a l 27 1 200 38 101 60 ,870 ,656 ,914 ,300 128 ,688 Total 26 614 ,883 190 35 90 64 ,765 ,620 ,745 ,400 31 ,177 assets Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 25 5 3 4 ,159 178 33 82 62 ,583 ,703 ,380 ,500 124 ,630 financial 14 15 16 17 21 4 7 5 ,728 161 29 66 65 Land Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 23 24 Noncorporate 4 2 8 ,741 267 155 94 18 Total 20 ,499 ,165 ,034 ,300 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 8 9 10 11 12 13 18 Business are real in estate millions of dollars. ,688 ,010 ,332 ,346 ,539 ,106 ,299 ,134 ,844 ,471 ,702 ,671 ,841 ,013 ,814 ,014 ,059 ,015 ,735 ,309 ,259 ,794 ,865 ,600 ,625 ,525 ,819 ,281 ,800 ,088 ,274 ,056 ,252 ,171 19 9 1 4 4 22 ,611 ,078 ,623 ,910 ,763 ,490 ,515 ,321 ,151 ,009 8 9 10 11 12 13 15 , 4 4 4 11 ,461 287 3,,696 18,,641 13,,518 360 4,,763 14 15 16 17 8 1 2 ,.788 9 0 2 ,,536 18 19 9 3 ,,585 106, 2 5 9 129,,001 162,,944 1 9 9 ,,496 2 4 0 ,,694 2 6 0 ,,117 286, 312 88, 57, 2, 32, 22, 366 638 008 910 720 1 0 1 ,,457 70, 0 4 2 2, 153 38, 683 29, 206 1 2 1 ,,587 8 8 =2 5 1 3,,050 46, 740 38, 4 6 1 151,,375 114, 5 2 7 3,,626 56, 660 54, 241 172, 319 116, 378 3,• 2 2 6 64, 461 48, 691 2 0 8 ,,059 140, 8 6 3 3,,008 69, 961 67, 8 9 4 225, 040 152, 377 3, 6 3 5 70, 0 6 9 78, 673 246, 164, 5, 73, 85, 12, 0 5 4 18, 674 11, 6 9 6 19, 7 1 9 12, 6 0 4 20, 732 13, 6 6 7 2 3 , 181 28, 647 27, 294 35, 988 31, 2 0 8 37, 680 34, 983 40, 354 42, 054 25 26 5, 219 4,802 1, 0 3 7 4, 377 2, 489 5, 080 3, 9 8 5 17, 653 5, 545 20, 145 6, 602 20, 559 7, 7 8 5 267 27 28 2, 000 4, 000 5, 539 6, 945 7, 916 - - - 470 20 062 21 018 22 937 23 107 24 9, 790 2 9 329,910 516,241 616,224 30 334,432 592,280 716,372 31 S e p t e m b e r 1991 Farm 8 Noncorporate Business Farm Sector Year-End Balance Sheets with Tangible Assets at Current 8 Noncorporate Cost Outstandings 1977 Year-End 1978 1979 1980 Farm 1981 1982 1983 1984 9 8 4 ,468 9 9 2 ,,121 8 9 5 ,, 1 6 2 T a n g i b l e ,985 ,872 ,865 ,248 3 2 7 ,,445 63,,752 184,,328 79,,365 3 2 9 ,, 4 9 5 65,, 6 1 8 183 ,017 8 0 ,860 7 0 0 ,,560 661 ,483 6 6 4 ,,676 5 6 5 ,667 2 6 ,,053 2 7 ,859 2 9 ,,126 2 9 ,, 3 6 5 7,,390 16,,809 13,,714 3,,095 7,,504 18,,F49 14,,821 3,,728 7 20 16 4 ,634 ,225 ,110 ,115 7,,780 2 1 ,,346 17,,129 4,,217 ,942 2 1 ., 4 2 3 17 , 1 4 4 4 ,279 1 0 4 6 ,,255 1 0 5 2 ,,487 1012 >327 1 0 2 1 ,,247 924 ,527 Total assets Total liabilities 1 6 7 7 ,,486 797, 8 7 8 9 2 7 ,,298 1 0 2 2 ,,056 1 0 2 6 ,,434 217 43 114 59 ,660 ,801 ,559 ,300 2 5 7 ,,236 4 9 ,,624 133,,912 7 3 ,700 2 8 4 ,,969 5 4 ,,431 149,, 8 3 8 8 0 ,, 7 0 0 3 1 1 ,,138 5 9 ,,241 1 6 7 ,,397 8 4 ,,500 3 2 5 ,,874 6 3 ,,118 181,,202 8 1 ,,554 322 61 181 79 6 4 5 9 ,826 5 4 0 ,, 6 4 2 6 4 2 ,329 7 1 0 ,,918 7 18,, 0 8 7 2 0 ,,154 2 2 ,, 2 2 6 2 4 ,,199 8 9 10 11 7,,035 11 , 0 5 2 9 ,197 1,, 8 5 5 7,, 1 3 7 13,, 0 1 7 10,,891 2,,126 7 ,284 14,, 9 4 2 12 ,406 2 ,536 12 695 ,573 8 1 8 ,032 949 ,524 7 13 112 ,962 1 3 0 ,833 155 ,524 172,, 3 0 5 193 ,CC7 2 0 0 ,615 2 0 3 ,,784 2 0 2 ,203 14 15 16 17 18 19 105 63 25 16 3 12 ,939 ,949 ,729 ,261 ,502 ,759 122 ,194 72 ,757 2 8 ,211 21,,226 7 ,009 14 , 2 1 7 145 86 31 27 10 17 ,723 ,755 ,033 ,935 ,391 ,544 161,, 4 7 7 97,, 4 8 7 31,, 5 6 6 3 2 ,424 13,,026 19 ,398 1 7 7 ,791 1 0 7 ,229 32,, 9 2 0 3 7 ,642 16 , 4 2 0 21 ,222 184 111 36 37 16 20 ,493 ,311 ,135 ,047 ,657 ,390 188,,389 113,,721 38,,927 35,,741 16 ,700 19,,041 187,, 9 4 7 112 ,422 39 ,907 35 ,618 17 , 8 0 0 17 ,818 20 7 ,023 8 ,639 9 ,801 10,,828 15 ,766 16 , 1 2 2 15,,395 14 , 2 5 6 21 22 23 5 8 2 ,611 34 ,887 5 4 7 ,724 6 8 7 ,,199 4 2 ,,248 6 4 4 ,,951 7 9 4 ,000 5 0 ,440 7 4 3 ,, 5 6 0 8 7 3 ,,950 5 6 ,,791 8 1 7 ,,159 8 5 8 ,,930 5 6 ,, 0 5 2 8 0 2 ,,878 8 1 1 ,712 5 3 ,286 7 5 8 ,426 8 1 7 ,,463 5 4 ,,030 7 6 3 ,,433 24 5 5 6 ,547 6 5 5 ,,968 7 6 7 ,, 7 9 2 8 5 0 ,,109 8 5 1 ,,653 8 1 2 ,110 1 953, 995 2 3 4 5 632, 384, 219, 29, 6 7 1 2 3 4 5 Land 6 Total financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s 14 15 16 17 18 19 Trade debt 20 7 2 2 ,324 4 6 ,,851 6 7 5 ,, 4 7 3 Net worth Corporate farms Noncorporate farms 23 8 2 1 ,,797 7 2 7 ,, 7 4 0 Memo: Total 24 real estate 1 8 3 7 ,819 1 9 3 4 ,297 2 0 6 1 ,311 2 2 1 9 ,481 9 9 8 ,747 6 2 8 ,290 3 3 6 ,,461 33,,996 1 1 3 5 ,583 7 1 0 ,350 3 9 1 ,, 7 3 7 33,, 4 9 6 1176 722 420 33 1233 765 435 33 1316 824 455 36 3 2 1 ,.048 394, 2 7 6 4 8 6 ,,223 5 8 9 ,,100 7 0 2 ,236 758,,178 8 2 7 ,368 9 0 2 ,960 96,,564 117, 2 3 3 138,, 8 9 2 147,,781 192,,179 197,,769 2 3 0 ,555 2 7 8 ,531 8 9 10 11 12 13 2 2 ,.379 12,,127 2,,412 4,,127 5 ,509 26,,156 2 5 ,.570 15,.522 3,.184 4 =3 0 8 8 ,.114 31,,478 2 8 ,332 2 1 ,,269 2,,805 4 ,453 11 ,001 34 ,894 31,,106 2 4 ,,231 2,,564 4 ,391 12,, 2 1 7 36 ,512 33,,251 34,,693 3,,298 4,,409 2 0 ,339 4 0 ,,888 36,,794 38,,068 3,,244 4,,461 2 4 ,,961 4 8 ,469 45 51 6 5 29 55 14 15 16 17 23,,854 16,032 404 7 ,418 2 9 ,.057 18, 9 1 7 531 9,,609 36 ,138 2 1 ,, 8 0 5 643 13 , 6 9 0 36,,760 2 4 ,279 755 11 ,726 5 5 ,301 2 6 ,334 836 2 8 ,,131 4 1 ,,772 2 8 ,,362 865 12,,545 38 ,107 2 3 ,801 841 13 , 4 6 5 5 1 ,581 34 ,838 861 15 , 8 8 2 18 1 0 5 0 ,559 1 2 5 3 ,,744 1 4 9 2 ,777 1 7 3 5 ,,628 2 0 2 9 ,,998 2 1 3 2 ,,066 2 2 9 1 ,866 2 4 9 8 ,012 Total assets 19 3 2 3 ,877 3 7 8 ,144 4 5 4 ,502 5 1 8 ,980 5 7 5 ,,601 6 6 2 ,,948 7 5 9 ,783 9 0 8 ,904 Total liabilities 20 21 22 23 24 278 180 6 80 93 326 204 7 88 108 392 247 7 96 143 ,019 ,167 ,035 ,366 ,766 4 4 7 ,805 2 9 2 ,, 8 2 2 7 ,954 1 0 2 ,515 182,,353 4 9 2 ,, 1 6 3 3 1 6 ,108 8 ,544 1 0 3 ,659 2 0 3 ,,905 5 6 3 ,,987 3 9 3 ,095 15 ,056 1 1 4 ,005 2 6 4 ,034 645 464 39 131 293 ,842 ,070 ,057 ,165 ,848 7 6 9 ,006 5 5 2 ,272 4 1 ,,056 157,, 8 0 2 3 5 3 ,, 4 1 4 ,119 ,790 ,209 ,120 ,943 ,267 ,059 ,617 ,014 ,714 ,023 ,128 ,305 ,264 49 65 5 5 39 61 ,521 ,875 ,239 ,407 ,826 ,056 ,481 ,523 ,311 ,753 Tangible assets 2 3 4 5 Land 6 Total financial Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 14 15 16 17 18 Credit market instruments Mortgages Home mortgages Multifamily Commercial 72 ,815 72 ,037 75,, 2 6 7 79,,716 R 5 ,467 90,,588 7 5 ,958 94,,934 75 ,504 106 ,268 92,, 3 5 2 124,, 3 8 2 27 28 8,,871 23,,823 9 ,951 2 5 ,,555 12,,795 31 , 7 3 7 15,,328 36,,446 13,, 7 4 4 4 1 ,, 5 6 0 15,,235 4 5 ,, 3 2 2 17 ,081 4 5 ,786 18,,151 5 1 ,, 4 8 3 Other Trade 29 12,,633 16 ,170 17,,951 19,,401 2 8 ,,134 38,,404 5 1 ,074 70,,264 Miscellaneous 30 7 2 6 ,682 8 7 5 ,600 1 0 3 8 ,,275 1216, 648 1 4 5 4 ,, 3 9 7 1 4 6 9 ,,118 1 5 3 2 ,,083 1 5 8 9 ,,108 N e t 31 8 3 7 ,209 1 0 0 2 ,,718 1 2 0 1 ,,787 1420, 8 7 2 1 6 5 5 ,,019 1 7 4 4 ,,349 1 8 6 7 ,,172 2 0 1 9 ,,341 millions of dollars. 7 8 9 10 11 12 13 5 9 ,649 61 , 8 6 0 in assets Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 4 6 ,393 51 ,370 are 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 25 26 Data 21 Business 1 5 8 7 ,, 8 4 7 ,468 ,959 ,573 ,792 ,594 13 Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 8 6 7 ,, 6 6 2 540, 8 8 4 2 9 1 ,,896 34,, 8 8 2 742, 448, 260, 32, 7 8 9 10 11 12 1 3 5 3 ,,885 ,550 ,787 ,778 ,350 ,659 1136, 511 Noncorporate assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 235 918 593 724 947 099 394 454 Outstandings Business 2 3 4 5 Nonfarm Business £ 9 Bank loans n.e.c. Other loans taxes debt payable liabilities real 25 26 27 28 29 30 worth Memo: Total 19 20 21 22 23 24 estate 31 S e p t e m b e r 1991 Farm 8 Noncorporate Sector 30 Year-End Farm Business Balance Sheets with Tangible Assets at Current 8 Noncorporate Business Cost Year-End Outstandings Outstandings 1985 Farm 800, 930 7 5 5 ,,541 7 6 1 ,,097 8 0 0 ,,819 8 3 3 ,,231 8 7 0 ,,038 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 3 1 3 ,,161 65, 9 6 0 1 7 5 ,,723 7 1 ,,478 3 0 2 ,,805 65,,749 170,,779 66,, 2 7 7 301, 8 4 0 68,,099 1 6 8 ,,221 65,,520 3 0 1 ,,685 6 7 ,,373 162,, 8 9 0 71,,422 3 1 3 ,,524 6 9 ,, 1 2 7 1 6 6 ,,511 77, 8 8 6 3 1 0 ,,350 68,, 4 5 2 1 6 6 ,,195 75,,703 3 4 5 Land 4 8 7 ,,769 4 5 2 ,,736 5 5 9 ,• 6 8 8 6 1 Tangible 2 3 4 5 6 7 Total 8 9 10 11 assets financial assets Checkable dep. 8 currency Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s assets 13 liabilities Total Credit market instruments Mortgages Bank loans n.e.c. Other loans U.S. government Fed. Inter. Credit Banks 20 Trade 4 5 9 ,, 2 5 7 4 9 9 ,,134 5 1 9 ,, 7 0 7 32,,033 35 • 2 6 6 37,,649 4 0 ,768 4 3 ,,524 4 6 ,,885 7 8 ,,120 2 3 ,,913 19,,918 3,• 9 9 5 8 26 23 3 8,• 5 2 4 2 9 ,125 2 6 ,173 2 • 952 8 32 28 3 ,750 ,018 ,998 ,020 8 ,, 9 9 2 34,, 5 3 2 32,, 1 8 2 2,,350 9 37 35 2 8 ,234 ,651 ,651 • 000 798 • 746 8 4 1 ,587 8 7 6 ,755 9 1 6 ,923 1 8 7 ,438 170 • 793 1 6 0 ,259 153 ,327 156,,345 159 ,145 1 7 3 ,438 105,• 8 5 0 35 ,507 32 • 081 18 ,189 13 • 8 9 2 156 95 31 29 18 11 1 3 9 ,238 8 5 ,336 30,• 7 8 2 2 3 • 120 13 • 6 0 0 9 • 520 140 83 32 23 13 9 14 • 0 0 0 debt • 314 • 952 ,536 • 416 790 ,807 8 3 2 ,,963 12 T o t a l 14 15 16 17 18 19 Business • 607 • 781 • 240 ,586 ,023 ,563 145 88 29 27 17 9 ,499 ,869 ,053 ,577 ,650 • 927 137 86 29 20 13 7 ,594 ,803 ,817 • 974 ,341 ,633 14 , 1 8 6 14 , 7 6 0 15 , 7 3 3 17 • 107 ,495 ,983 ,912 ,600 ,800 ,800 Net worth Corporate farms Noncorporate farms 6 4 5 ,525 4 2 ,597 6 0 2 ,928 620 ,014 4 2 ,057 5 7 7 ,957 6 3 8 ,487 44 ,787 5 9 3 ,700 688 ,260 5 0 ,366 6 3 7 ,894 7 2 0 ,410 5 4 ,625 6 6 5 ,785 7 5 7 ,778 5 9 ,037 6 9 8 ,741 24 Memo: Total 6 5 0 ,006 614 ,740 6 2 5 ,020 6 6 3 ,766 688 ,037 7 2 5 ,000 estate Nonfarm 1 Tangible assets 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total financial assets Noncorporate 18 19 21 23 Business 2920, 780 2370, 320 2514, 609 2696, 682 2788, 706 2940, 716 1 3 8 9 , 151 874, 619 4 7 5 ,,690 38, 8 4 2 1438, 8 2 2 908, 664 492, 282 37, 8 7 6 1545, 718 985, 8 3 3 518, 213 41, 672 1593, 1005, 542, 45, 1686, 1067, 571, 48, 9 8 1 ,,169 1 0 7 5 ,,787 1 1 5 0 ,,964 1195, 5 6 8 1254, 057 1228, 504 3 1 7 ,,291 3 5 5 ,,842 3 6 8 ,,903 3 8 7 ,,324 4 0 6 ,,411 4 2 1 ,,406 138 163 912 063 14 15 16 17 18 , 6 5 0 21 22 23 real 9 10 11 659 064 581 014 1692, 1061, 582, 48, 276 337 774 165 8 9 10 11 12 13 Checkable dep. 8 currency Time deposits U.S. government securities Consumer credit Mortgages Trade credit 6 1 ,,297 7 6 ,,585 5, 7 5 4 5 ,841 4 3 ,,983 65,,858 67,,288 8 7 ,,798 6,,940 6,,166 4 6 ,,676 72,,211 71,,288 8 2 ,,798 7,,540 6,,491 4 5 ,,004 77,,011 75, 3 9 7 8 4 ,,486 8 ,,140 6,,856 4 3 ,,332 8 1 ,,811 78, 6 2 2 89, 617 8, 740 6, 7 6 7 41, 660 8 6 ,,611 8 0 ,,703 92, 110 9,,340 6, 9 3 9 3 9 ,,988 9 1 ,,411 9 10 11 12 13 14 15 16 17 Miscellaneous assets Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 5 7 ,,973 38,, 6 4 2 833 18,,498 6 8 ,763 4 3 ,451 771 2 4 ,541 78,,771 4 9 ,497 733 2 8 ,541 8 7 ,,302 5 4 ,,077 733 32,, 4 9 2 94,,394 5 7 ,,339 800 36:,255 100, 915 6 0 ,,388 575 3 9 ,,952 14 15 16 17 18 T o t a l assets 2 6 8 7 ,,611 2 8 7 0 ,451 3 0 6 5 ,585 3 1 7 6 ,030 3347 • 127 3 3 4 2 ,,186 19 T o t a l liabilities 1 0 5 4 ,521 1 1 6 2 ,740 1 2 5 3 ,788 1 3 3 5 ,736 1 3 9 7 ,892 1 4 2 2 ,• 2 1 3 1145 829 47 262 518 1195 864 45 279 539 1209 866 44 280 542 20 21 22 23 24 Credit market instruments Mortgages Home mortgages Multifamily Commercial 25 26 Bank loans n.e.c. Other loans 27 28 Other Trade 29 Miscellaneous 30 Net 31 payable liabilities worth Memo: Total Data taxes debt are real in estate millions of dollars. 898 663 44 191 427 ,338 ,275 ,806 ,272 • 197 997 739 46 224 468 ,554 ,564 ,727 ,053 ,784 1075 789 47 247 494 ,436 ,592 ,642 ,112 ,838 • 112 ,133 ,715 ,810 ,608 ,892 ,769 ,920 ,599 ,250 • 561 ,944 ,647 ,042 ,255 23 24 25 98 ,510 136 ,553 110 ,207 147 ,783 120 ,869 164 ,975 128 ,927 187 ,052 133 ,144 197 ,979 1 3 3 ,011 2 0 9 ,606 26 21 ,596 5 6 ,858 23 ,269 61 , 0 8 2 2 4 ,869 64 ,648 2 6 ,469 67 ,320 2 8 ,069 69 ,096 2 9 ,669 70 ,148 28 77 ,729 8 0 ,835 8 8 ,835 96 ,835 104 ,835 112 ,835 1633 ,090 1 7 0 7 ,711 1811 ,797 1840 ,294 1949 ,235 1 9 1 9 ,973 2 1 6 4 ,881 2 3 0 5 ,933 2 4 8 0 ,292 2 5 5 9 ,771 2 7 0 1 ,585 2 6 7 4 ,995 27 S e p t e m b e r 1991 Nonfinanclal Corporate Nonfinanclal Business Sector Year-End Balance Sheet with Tangible Assets at Current Year-End 1949 1947 Corporate Business, Farms 2 5 9 ,,005 2 8 9 ,286 3 0 5 ,321 135, 4 5 5 168, 2 8 4 2 0 1 ,, 3 0 2 2 2 3 ,,906 2 2 9 ,592 2 3 4 5 115,>599 2,, 9 7 3 8 3 ,,814 2 8 ,,812 146, 192 3,,416 102, 3 6 6 4 0 ,,410 176 ,017 3,, 9 3 2 1 2 3 ,608 4 8 ,477 196 4 138 53 199 4 146 49 6 19,,856 22, 0 9 2 2 5 ,285 2 7 ,739 2 9 ,682 32,,615 36,,001 39 ,000 7 6 9 ,006 6 7 ,.420 76 ,167 8 1 ,670 8 5 ,601 1 0 2 ,421 110,,491 115 ,957 8 9 10 11 12 13 14 15 16 38 ,652 1 8 ,959 900 33,,594 19,,502 900 3 5 ,155 2 1 ,434 900 36 ,256 2 1 ,861 900 39 ,260 2 2 ,903 900 4 3 ,844 2 4 ,222 900 4 6 .437 2 5 ,,859 900 4 6 ,271 2 6 ,,641 900 33 18 , 5 0 8 252 68 12,,779 313 32 51 1 2 ,291 350 129 10 12 , 8 5 3 452 180 10 14 ,697 485 265 57 17 ,870 652 143 91 18 .653 844 90 75 17 ,647 813 195 2 ,523 2,,994 3 ,643 2 0 ,092 7 ,739 7 ,227 418 ,906 7,,926 ,227 676 2 8 ,030 9 ,339 8 ,366 956 23 24 7 4 ,246 30 10 9 1 ,259 ,909 ,625 ,192 ,910 ,385 1 ,138 ,387 Outstandings 1950 Excluding 1 ,167 ,219 ,129 ,819 Business 3 ^ Outstandings Nonfinanclal 17 18 19 20 21 Corporate Cost 226 4 161 60 ,390 ,725 ,446 ,219 253 4 178 69 ,285 ,981 ,604 ,700 266 5 190 70 ,321 ,069 ,438 ,814 4 ,646 5 ,581 6 ,190 7 ,068 2 9 ,471 12 ,224 10,, 7 0 0 1 ,383 39,,593 13 ,403 11 ,788 1,,418 4 2 ,989 14 ,875 12,,979 1 ,548 4 5 ,, 8 4 9 16 , 7 6 9 14 ,721 1 ,666 Tangible assets (current cost) 1 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 2 3 4 5 Land 6 Total financial 7 assets Liquid assets Checkable dep. 8 currency Time deposits M o n e y market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 8 9 10 11 12 13 14 15 16 Consumer credit M u t u a l fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 17 18 19 20 21 22 23 24 23 17 92 141 197 348 382 2 0 4 ,461 2 3 5 ,,704 2 7 7 ,469 3 0 5 ,576 3 1 5 ,193 361 ,426 3 9 9 ,777 4 2 1 ,278 Total assets 25 26 71 , 5 5 9 8 1 ,,118 94 ,233 103 ,179 1 0 2 ,514 125 ,622 1 3 9 ,851 1 4 5 ,451 Total liabilities 26 27 28 29 30 31 32 33 4 3 ,627 4 9 ,667 5 6 ,974 63 ,294 65 ,117 71 , 8 8 5 8 0 ,655 8 7 ,506 23 ,905 8 ,636 291 2 ,081 6 ,264 2 4 ,858 1 0 ,215 659 2 ,254 7 ,302 2 7 ,671 11 , 6 9 4 872 2 ,512 8 ,310 31 13 1 2 9 34 13 1 3 9 36 15 1 4 9 ,498 ,135 ,428 ,267 ,440 39 ,792 16,,179 1,,364 4,,937 9 R78 4 4 ,497 17 ,215 1 ,587 5 ,353 10,, 2 7 5 34 35 36 37 38 39 8 ,875 12 ,465 15 , 5 3 5 16 , 1 3 7 14 , 2 4 5 17 ,923 2 2 ,,120 2 2 ,,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,, 5 6 4 655 40 41 42 10 , 8 2 8 14 , 5 9 7 2 ,507 8 ,807 2 0 ,141 2 ,503 11 , 2 6 4 2 3 ,392 2 ,603 12 ,118 2 4 ,980 2 ,787 9 ,738 2 4 ,718 2 ,941 17 , 2 5 2 33 ,094 3 ,391 21,,922 3 3 ,616 3 ,658 18,, 6 7 2 35,, 3 2 8 3 ,945 43 132 ,902 154 ,586 183 ,236 2 0 2 ,397 2 1 2 ,679 2 3 5 ,804 2 5 9 ,926 2 7 5 ,827 N e t 44 79 ,166 9 2 ,996 108 ,707 117 ,384 121 ,652 131 ,966 144 ,164 152 ,984 T o t a l 25 94 ,971 ,074 ,093 ,949 ,032 ,874 ,861 ,031 ,532 ,298 27 28 29 30 31 32 33 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial Bank loans n.e.c. Loans from foreign Commercial paper A c c e p t a n c e l i a b . to b a n k s Nonbank finance loans U.S. government loans Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in U.S. 34 35 36 37 38 39 40 41 42 43 worth Memo: 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 2,010 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% 31.7% 58.3% 49 66.0% 53.8% 46.3% 41.4% 43.3% 49.4% 53.1% 54.3% 50 98,,123 1 1 6 ,290 133 ,604 149,, 1 4 8 154,, 6 5 8 174 ,438 196 ,820 2 1 0 ,, 2 0 4 51 52 53 54 90,.340 1,,654 62,,369 26, 3 1 7 108 ,017 1,, 7 0 0 6 8 ,771 3 7 ,546 125 ,029 1 ,800 78 ,544 4 4 ,, 6 8 5 1 4 0 ,329 1,, 9 6 3 8 9 ,,476 4 8 ,, 8 9 0 1 4 5 ,, 6 4 5 2,,129 98,,203 4 5 ,313 1 6 5 ,131 2,,314 107,,716 55,,101 187 ,192 ,422 119,,918 64,, 8 5 2 2 0 0 ,, 8 3 7 2,,519 1 3 2 ,,216 66,,102 Tangibles corp. real 44 estate M a r k e t v a l u e of e q u i t i e s , 149,941 including corp.farm equities ( N e t w o r t h of c o r p o r a t e f a r m s , 2,345 from farm sector table) and net Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 5 / 4 3 ) worth on historical Tangible cost 45 46 47 48 49 basis: 50 assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 55 7,,783 8 ,273 8,, 5 7 5 8,,819 9 ,013 9 ,307 9,,628 9,,367 56 167,,129 183,,710 2 0 9 ,771 2 3 0 ,, 8 1 8 2 4 0 ,,259 2 7 6 ,859 3 0 7 ,311 3 2 6 ,,161 57 95,,570 102,, 5 9 2 115 ,538 1 2 7 ,639 1 3 7 ,745 151,, 2 3 7 1 6 7 ,460 180,,710 N e t 58 46,468 49,029 52,235 56,605 60,644 64,902 70,629 76,164 59 45.6% 48.4% 49.3% 49.5% 47.2% 47.5% 48.1% 48.4% in of Total 56 assets 57 worth Memo: Data are millions dollars. Total real Debt-net estate worth ratio 58 (27/57) 59 S e p t e m b e r 1991 Nonfinancial Corporate 32 Year-End Nonfinancial Business Sector Balance Sheet with Tangible Assets at Current Year-End Outstandings Nonfinancial 1 Tangible assets (current cost) 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land 7 Total assets 8 9 10 11 12 13 14 15 16 Liquid assets Checkable dep. 8 currency Time deposits M o n e y m a r k e t fund s h a r e s Security RPs Foreign deposits U.S. government securities Tax-exempt 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 E q u i t y in s p o n s . a g e n c i e s Other Corporate Business, Business Excluding Outstandings Farms 322, 329 335, 663 367, 2 4 3 410, 150 439, 428 4 5 3 ,.054 476, 794 493, 127 1 279, 342 5, 113 201, 519 72,.710 287, 5, 210, 71, 314, 5, 230, 78, 308 359 029 920 349, 8 3 3 5, 4 6 2 2 5 7 ,.416 8 6 ,.955 371, 5 5 2 5, 5 4 2 2 7 7 ,,239 8 8 ,,771 378, 434 5, 7 5 0 2 8 5 ,.911 86, 773 396, 387 6, 0 7 6 297, 578 92, 733 4 0 7 ,.623 6, 3 4 8 305, 685 95,.590 2 3 4 5 52, 935 60, 3 1 7 6 7 ,876 7 4 ,.620 8 0 ,.407 85, 504 6 1 7 8 ,.716 181,,736 7 4 2 ,,987 financial Corporate Cost 370 206 906 258 48, 2 9 3 1 1 9 ,,052 124, 6 2 7 142, 0 8 9 1 4 7 ,,210 1 5 1 ,,876 163, 5 0 2 4 8 ,013 261,550 900 4 8 ,,373 2 8 ,,329 1,,100 53, 4 2 8 29, 2 8 2 1,.000 48, 8 9 3 2 8 ,,990 1,,000 4 8 .458 2 9 ,024 1,,000 5 0 ,.992 30,,083 1,,900 5 6 ,,185 2 9 ,,196 1,,500 114 19 ,240 1 ,005 204 158 17,,523 972 291 129 2 1 ,,581 1,,219 217 138 17,,118 1,, 3 4 2 305 131 16 ,389 1 ,479 435 149 16,, 6 9 2 1,,958 210 132 2 2 ,,821 1,,794 742 7 ,327 7 ,672 8 ,359 8 ,667 8 ,692 45 18 16 1 697 5 7 ,988 ,314 19 , 3 9 5 2,,034 2 883 6 3 ,789 2 5 .,861 2 2 ,505 2 ,393 13 950 ,003 ,709 ,253 ,786 4 8 ,388 2 0 ,194 17 ,631 1,,866 670 65 29 25 2 8 ,848 10,,141 ,414 ,312 ,394 ,965 32 921 71 , 8 1 2 31 ,850 2 7 ,409 3,,511 38 892 77,,363 35,,027 2 9 ,,827 4,,081 51 1,,068 8 5 1 ,,429 2 8 ,• 2 4 3 9 3,,000 10 11 12 1 4 8 13 16,,868 14 2,,382 15 7 8 8 16 9,,643 ,291 ,373 ,865 ,672 72 1,,764 82 38 31 4 17 18 19 20 21 23 24 25 Total assets 4 4 1 ,381 4 6 0 ,290 5 0 9 ,332 5 5 7 ,360 5 9 1 ,304 6 1 6 ,556 6 5 5 ,,510 674,,863 2 5 26 Total liabilities 150 ,363 1 5 4 ,439 176 ,307 1 8 9 ,299 198 ,502 2 0 8 :, 4 0 4 2 2 6 ,,924 2 3 7 ,906 2 6 124 ,982 133 ,378 143,,681 ,715 ,714 ,823 ,611 ,280 7 2 ,794 3 0 ,800 1,,938 8 ,518 2 0 ,,344 153,,656 2 7 28 7 6 ,216 2 9 3 3 ,448 3 0 1 ,703 31 9 ,289 3 2 22,,456 3 3 48 18 1 5 10 Bank loans n.e.c. Loans from foreign Commercial paper A c c e p t a n c e l i a b . to b a n k s Nonbank finance loans U.S. government loans 34 35 36 37 38 39 Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in 40 41 42 43 91 , 8 2 7 Credit market debt T a x - e x e m p t debt Corporate bonds Mortgages Home mortgages Multifamily Commercial 27 28 29 30 31 32 33 Net U.S. worth ,012 ,101 ,547 ,670 ,884 9 6 ,541 51 19 1 5 11 ,547 ,732 ,i 8 7 2 ,939 ,921 104 ,998 54 21 2 6 13 1 1 5 ,396 ,564 ,598 ,016 ,348 ,234 5 8 ,040 2 3 ,225 ,788 6 ,632 14 , 8 0 5 64 24 1 6 16 ,072 ,857 ,671 ,855 ,331 69 27 1 7 18 2 2 ,357 2 1 ,694 2 5 ,577 30 ,658 31 , 8 6 6 31 , 5 2 7 3 5 ,259 3 7 ,438 402 376 1 ,626 953 531 602 1 ,629 806 362 332 1 ,881 684 378 490 1 ,923 682 422 619 2 ,405 741 658 582 2 ,430 752 315 593 3 ,141 779 769 834 4 ,095 856 34 35 36 37 38 39 19 ,271 35 ,014 4 ,251 15 , 9 8 8 37 ,277 4 ,633 2 0 ,085 4 6 ,148 5 ,076 18 ,102 5 0 ,342 5 ,459 15 , 9 7 1 51 ,839 5 ,710 13 , 3 7 8 5 5 ,533 6 ,115 15 , 8 1 7 60 ,822 6 ,604 13 , 6 1 5 4 0 63 • 725 41 6 ,910 4 2 291 ,018 3 0 5 ,851 333 ,025 3 6 8 ,061 3 9 2 ,802 4 0 8 ,152 4 2 8 ,586 4 3 6 ,957 4 3 Memo: Total 45 including corp.farm equities ( N e t w o r t h of c o r p o r a t e f a r m s , from farm sector table) 46 47 48 49 corp. estate Tangible and net worth on Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 55 Land 57 Total Net assets 269,173 289,169 242,470 342,082 361,299 354,114 45 4,121 4,486 4,820 46 2,401 2,599 2,828 3,230 31.5% 63.4% 31.5% 44.6% 31.5% 39.0% 31.3% 39.9% 31.8% 51.5% 32.6% 38.9% 33.5% 39.7% 35.1% 43.3% 47 48 49.7% 70.6% 80.8% 78.5% 61.7% 83.8% 84.3% 81.0% 49 2 2 6 ,,060 2 3 6 ,438 2 5 6 ,, 3 0 2 2 8 1 ,,919 3 0 2 ,897 3 1 3 ,898 3 3 5 ,,052 3 5 4 ,,625 5 0 2 1 6 ,.141 2,,627 1 4 5 ,,603 6 7 ,,911 2 2 6 ,174 2 ,732 157,,140 6 6 ,302 2 4 5 ,383 2,, 8 4 7 169,,571 72,,965 2 6 9 ,788 2,,959 186,,287 8 0 ,, 5 4 2 290 3 204 82 ,021 ,107 ,323 ,591 2 9 9 ,508 3 ,392 2 1 5 ,807 8 0 ,,309 3 1 9 ,,055 3,,771 2 2 8 ,,835 8 6 ,,449 337,,109 4,,104 2 4 3 ,,555 8 9 ,,450 9,,919 10,,264 10,,919 12,,131 cost 3 4 5 ,,112 worth 216,033 44 3,637 historical assets 51 52 53 54 56 144,776 Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 5 / 4 3 ) Tangibles 50 real 251,107 44 basis: 3 6 1 ,,065 3 9 8 ,,391 4 2 9 ,,129 51 52 53 54 17,,516 5 5 1 2 ,876 14,, 3 9 0 15,,997 4 5 4 ,773 4 7 7 ,, 4 0 0 5 1 3 ,,768 5 3 6 ,,361 2 8 6 ,,844 2 9 8 ,,455 5 7 131,,497 140,,295 1 9 4 ,,749 2 0 6 ,626 2 2 2 ,,084 2 3 9 ,,830 2 5 6 ,271 2 6 8 ,996 8 3 ,,136 8 9 ,383 96,,053 105,,633 1 1 5 ,003 123 ,312 47.1% 46.7% 56 Memo: 58 Total 59 Debt-net Data are real in estate worth ratio millions of (27/57) dollars. 48.1% 58 S e p t e m b e r 1991 Nonfinancial Corporate Nonfinancial Business Sector Year-End Balance Sheet with Tangible Assets at Current Corporate Cost Year-End Outstandings 1961 1962 1963 Nonfinancial 1964 Corporate 1965 Business, 1966 Excluding 1967 Business ^ 3 Outstandings 1968 Farms 1 508,703 526,992 547,273 575,931 617,310 677, 631 726,697 789,688 2 3 4 5 417,577 6,758 313,054 97,765 433,950 7,361 323,808 102,781 452,258 8,014 335,565 108,679 477,825 8,984 353,063 115,778 515,953 9,804 380,952 125,197 572, 620 10, 8 9 1 420, 288 141, 441 621,452 11,650 457,427 152,375 684,442 13,580 505-854 165,008 6 91,126 93,042 95,015 98,106 101,357 105, 011 105,245 105,246 237,308 259,125 272, 722 289,197 320,072 Tangible assets (current cost) Reproducible assets Residential structures Nonres. plant 8 equipment Inventories Land Total 1 2 3 4 5 6 financial assets 7 7 194,579 206,757 222,448 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, 6 3 9 2, 8 5 2 670 1,055 9,619 3,300 3,952 1,121 1,587 10,393 3,782 5,099 17 18 19 20 21 22 23 24 9,638 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, 4 1 8 425 133, 2 4 7 64, 3 0 6 5 1 ,, 0 0 7 7,,331 120 5,,848 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 25 703,282 733,749 769,721 813,239 876,435 9 5 0 ,,353 1015,894 1109,760 Total assets 25 26 253,348 270,270 292,239 312,850 346,485 3 8 0 ,,764 409,221 456,976 Total liabilities 26 2 4 3 ,,165 268,089 295,026 107 54 1 15 37 ,474 ,525 ,598 ,247 ,680 122,132 56,626 2,102 16,050 38,474 135,025 58,847 2,224 17,082 39,541 69 ,136 75,631 85,429 1 ,622 1 ,063 7 ,303 2 ,042 3,034 1,304 7,129 2,233 4,249 1 ,574 8,245 1,657 20,169 97,714 8,797 2 0 ,374 1 0 8 ,171 9 ,054 15,647 115,562 9,923 18,508 132,627 10,815 500,389 529,950 5 6 9 ,589 606,673 652,784 286,135 303,361 324 ,913 340,778 366,540 27 28 29 30 31 32 33 163,509 176,101 188,321 200,822 219,805 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 34 35 36 37 38 39 38,349 41,862 45,322 49,884 60,730 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 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 43 449,934 463,479 477,482 44 260,919 267,707 274,676 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 8 9 10 11 12 13 14 15 16 Consumer credit M u t u a l fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 17 18 19 20 21 22 23 24 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily C o m m e r c i al 27 28 29 30 31 32 33 Bank loans n.e.c. Loans from foreign C o m m e r c i a l paper A c c e p t a n c e l i a b . to b a n k s Nonbank finance loans U.S. government loans Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in Net U.S. worth 34 35 36 37 38 39 40 41 42 43 Memo: 45 428,294 389,171 456,076 509,516 553,720 651,678 504 Total 46 5,294 5,780 6,299 6,793 7,625 8 ,159 8,861 47 48 36.3% 3 8 . 1% 37.9% 45.2% 39.4% 41.2% 40.1% 39.4% 41.4% 39.6% 4:2 . 6 % 48.2% 44.1% 41.1% 45.1% 40.0% 49 95.1% 83.9% 95.5% 101.8% 104.4% 88.5% 107.4% 112.8% 50 372,784 394,837 418,173 445,602 482,941 531 ,893 574,619 620,903 51 52 53 54 353,214 4,573 256,541 92,100 373,409 5,232 270,794 97,383 394,887 6,067 285-646 103,174 420,328 6,915 303,428 109,985 455,091 7,717 327,914 119,460 501 8 357 135 ,694 ,412 ,939 ,343 542,245 9,013 386,579 146,653 586,239 10,117 418,144 157,978 55 19,570 21,428 23,286 25,274 27,850 30 ,199 32,374 34,664 Total Net Tangibles corp. real estate 44 M a r k e t v a l u e of e q u i t i e s , including corp.farm equities 736,506 ( N e t w o r t h of c o r p o r a t e f a r m s , from farm sector table) 9,682 and net 56 567,363 601,594 640,621 682,910 742,066 8 0 4 ,615 863,816 940,975 57 314,015 331,324 348,382 370,060 395,581 4 2 3 ,851 454,595 483,999 58 149,255 158,019 166,887 176,865 189,850 2 0 4 ,334 218,651 233,756 59 52.0% 53.1% 54.0% 54.2% 55.5% 57.3% 58.9% 60.9% in of Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 5 / 4 3 ) worth on historical Tangible cost 45 46 47 48 49 basis: 50 assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 55 Land 56 assets 57 worth Memo: Data are millions dollars. Total real Debt-net 58 estate worth ratio (27/57) 59 S e p t e m b e r 1991 Nonfinancial Corporate Business 34 Year-End Nonfinancial Sector Balance Sheet with Tangible assets (current cost) 2 3 4 5 Reproducible assets Residential structures Nonres. plant & equipment Inventories 6 Land financial assets 8 9 10 11 12 13 14 15 16 Liquid assets Checkable dep. 8 currency Time deposits M o n e y 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 M u t u a l fund s h a r e s Trade credit Miscellaneous assets Foreign direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 25 Total assets 26 Total liabilities Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in 40 41 42 43 Net 8 6 5 ,189 9 3 4 ,,126 7 5 6 ,•310 15,• 7 0 4 5 5 8 ,356 182,, 2 5 0 8 2 2 ,,615 17,,256 6 1 5 ,283 190,,076 Corporate U.S. worth 1 0 0 7 ,242 892 19 672 200 ,780 ,828 ,219 ,733 Corporate Business, 1 0 8 7 ,, 0 1 4 964 20 726 217 ,227 ,591 ,357 ,279 Business Cost Excluding Outstandings Farms 1228 ,528 1516 ,552 1643 ,926 1 0 9 3 ,398 ,152 8 1 1 ,430 2 5 9 ,816 1358 23 1003 331 1480 23 1119 337 ,637 ,618 ,704 ,315 ,110 ,680 ,183 ,247 1 7 9 5 ,527 1 ,982 ,884 ,926 ,172 2 3 4 5 1617 24 1217 375 1 0 8 ,879 1 1 1 ,511 114 ,462 122 ,787 135 ,130 157 ,915 163 ,816 177 ,545 6 3 5 1 ,, 8 2 7 3 7 0 ., 2 7 4 4 0 6 ,708 4 5 6 ,211 5 2 6 ,810 5 1 7 ,494 5 5 8 ,515 6 1 2 ,893 7 69,,008 4 3 ,122 3 ,652 6 9 ,494 4 4 ,059 5 ,347 7 8 ,819 4 2 ,581 9 ,509 8 8 ,015 4 4 ,938 11 , 8 9 0 100 ,960 4 6 ,315 16 , 6 2 3 105 ,407 47 ,772 2 0 ,464 125 ,170 53 ,927 2 2 ,351 1 3 9 ,778 5 6 ,365 2 4 ,413 3,,311 1 ,173 7 ,322 2,, 8 0 0 7 ,628 234 798 7 ,492 2 ,175 9 ,389 ,077 1 ,234 9 ,968 3 ,175 11,, 2 7 5 2,, 6 8 8 2,, 1 7 2 7,, 9 1 7 4,,175 14,,235 11,, 2 6 2 3 ,329 4 ,517 4 ,038 14,,876 8 9 10 11 12 13 14 15 16 14,, 6 4 7 645 ,404 ,084 ,269 ,831 336 12,,648 17 ,266 690 2 0 3 ,849 1 0 6 ,084 76,,388 11 ,878 359 17 ,459 17,,954 732 230, 251 119,,259 8 1 ,,503 13,,729 377 2 3 ,,650 19,, 1 8 0 775 2 6 9 ,,293 136,, 6 0 2 91,, 7 1 5 15,,689 396 2 8 ,, 8 0 2 1 2 1 7 ,016 1 3 0 4 ,, 4 0 0 1413 ,950 1 5 4 3 ,,225 1 7 5 5 ,338 5 0 4 ,097 5 3 7 ,391 5 7 7 ,138 631 , 713 7 3 6 ,303 3 2 4 ,014 3 5 2 ,491 ,000 ,038 ,008 ,551 ,479 166 ,756 5 8 ,918 2 ,153 19,,750 77,,015 3 7 7 ,799 86 185 ,563 61 , 4 2 2 3,, 0 5 0 21 ,672 3 6 ,700 4 0 9 ,, 1 8 6 634 197,, 7 5 0 64,,183 3,, 6 2 6 2 4 ,, 4 5 7 36,,100 4 6 7 ,,381 2,, 4 3 0 2 0 6 ,909 8 9 ,542 3,,226 2 6 ,,914 5 9 ,, 4 0 2 98 ,834 103,,628 1 0 7 ,679 120,,453 14 , 0 9 5 745 ,878 ,101 ,704 ,935 225 11 , 2 3 7 182 85 63 9 147 58 2 18 37 Bank loans n.e.c. Loans from foreign Commercial paper A c c e p t a n c e l i a b . to b a n k s Nonbank finance loans U.S. government loans 34 35 36 37 38 39 Current Year-End Nonfinancial 27 28 29 30 31 32 33 at Outstandings 1 Tangible 7 Total Assets 5 2 10 1 ,356 ,282 ,730 ,774 191 94 70 10 7 3 10 2 ,133 ,090 ,907 ,059 6 3 11 1 5 4 5 4 16 ,485 ,946 ,566 ,654 ,520 19,, 5 3 5 816 2 4 6 ,• 2 6 0 145,,476 100,,364 17,,816 413 2 6 ,,883 4 5 14 4 19 ,731 ,772 ,281 ,481 ,627 19,, 8 6 2 890 2 5 2 ,,457 160, 1 3 6 114,,140 2 0 ,,043 423 2 5 ,,530 7 7 16 3 24 ,048 ,441 ,421 ,419 ,671 21,,660 964 2 7 1 ,,269 179,,222 126,,583 2 3 ,,424 460 2 8 ,755 17 18 19 20 21 23 24 2 2 0 2 ,,441 2 4 0 8 ,,420 2 5 7 3 0 ,,155 7 5 1 ,,675 8 0 6 ,,519 2 6 5 1 7 ,,784 4,,078 2 2 6 ,,579 8 5 ,,458 3,,008 2 8 ,,308 5 4 ,, 1 4 2 532, 767 6,,678 2 5 3 ,,783 8 6 ,,958 3 =6 3 5 28, 798 5 4 ,,525 5 7 0 ,,170 2 7 9,,163 2 8 2 7 6 ,,614 2 9 93,,826 3 0 5, 0 1 8 31 2 9 ,.950 3 2 58, 8 5 8 33 2 0 3 4 ,,046 ,247 ,619 ,579 ,604 6,,968 3,, 6 7 2 13,,681 1,, 8 4 5 137,,050 32 8 ,382 4,,736 16,, 1 6 2 2,,138 159,,407 253 12,,513 7,, 2 4 7 18,,582 3,,667 143,,514 325 9,,616 7,,580 2 0 ,,440 3,,873 140,.072 34 4 9 5 35 11,,049 36 10,-165 37 2 4 ,,730 3 8 4,,056 3 9 19,,950 4 0 1 8 5 ,.629 4 1 3 0 ,.770 4 2 15 , 2 0 2 153 ,063 11 , 8 1 8 11 , 4 7 2 160 ,158 13 , 2 7 0 13 , 3 4 5 172 ,080 13 , 9 1 4 13,,253 1 9 4 ,406 14,, 8 6 8 15,,631 2 3 2 ,735 20,,556 16,,717 170,,510 2 5 ,,144 14,.573 176, 6 7 3 2 7 ,.662 7 1 2 ,919 7 6 7 ,009 8 3 6 ,812 911 ,512 1 0 1 9 ,035 1 3 0 3 ,,891 1450, 766 1 6 0 1 ,.901 43 400,463 433,867 473,942 513,962 574,294 699,236 749,153 810,047 44 646,230 648,492 758,897 855,233 678,436 499,098 684,337 787,807 45 10,403 10,889 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% 72.3% 47 48 90.6% 84.5% 90.6% 93.8% 66.5% 38.2% 47.1% 49.1% 49 Memo: 44 45 46 47 48 49 Total corp. estate Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 5 / 4 3 ) Tangibles 50 real M a r k e t v a l u e of e q u i t i e s , including corp.farm equities ( N e t w o r t h of c o r p o r a t e f a r m s , from farm sector t a b l e ) Tangible and net worth on historical assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 51 52 53 54 Land 55 56 Total 57 Net assets worth cost basis: 6 7 8 ,,205 7 2 4 ,691 7 6 9 ,831 8 2 8 ,166 9 1 9 ,113 1 0 4 6 ,073 1111 ,612 1211 ,128 5 0 6 3 9 ,283 11,,623 4 5 4 ,,386 1 7 3 ,,274 6 8 4 ,117 13,,004 4 8 8 ,550 182,,563 727 ,322 14 ,663 521 ,246 191,,413 782,,786 14 , 7 3 6 5 6 0 ,, 6 2 5 2 0 7 ,, 4 2 5 8 6 9 ,215 14 , 8 9 2 6 1 2 ,,359 2 4 1 ,964 9 9 2 ,286 14,, 9 5 0 6 7 3 ,,618 3 0 3 ,,718 1 0 5 6 ,647 14 ,900 730,,757 3 1 0 ,,990 1154 14 794 345 3 8 ,,922 4 0 ,,574 4 2 ,,509 4 5 ,, 3 8 0 4 9 ,, 8 9 8 5 3 ,787 5 4 ,,965 1 0 3 0 ,,032 1 0 9 4 ,,965 1 1 7 6 ,,539 1 2 8 4 ,, 3 7 7 1 4 4 5 ,,923 1 5 6 3 ,, 5 6 7 1 6 7 0 ,,127 525, 935 5 5 7 ,,574 5 9 9 ,,401 6 5 2 ,,664 7 0 9 ,, 6 2 0 8 3 3 ,,412 9 1 8 ,,452 2 5 3 ,,130 2 7 0 ,,285 2 8 7 ,,174 3 0 5 ,,508 3 2 9 ,,331 3 5 5 ,, 8 4 7 3 8 0 ,,691 ,649 ,917 ,641 ,091 51 52 53 54 5 6 ,479 5 5 1 8 2 4 ,021 56 1 0 1 7 ,502 5 7 Memo: 58 Total 59 Debt-net Data are real in estate worth ratio millions of (27/57) dollars. 62.6% 4 0 6 ,,341 58 56.0% 59 S e p t e m b e r 1991 Nonfinancial Corporate Honfinancial Business Sector Year-End Balance Sheet with Tangible Assets at Current Corporate Cost Year-End Outstandings 1979 Nonfinancial Business 3 5 Outstandings 1980 Corporate Business, Excluding Farms Tangible assets (current cost) 1 1 1993, 945 2305. 779 2613, 313 2983, 280 3356, 918 3501, 990 3 6 0 5 ,.531 3 8 4 3 ,.923 2 3 4 5 1793, 799 27, 591 1349, 279 416, 929 2 0 7 1 ,.336 3 2 , 111 1557, 4 0 8 4 8 1 ,.817 2346, 852 35, 3 5 7 1752, 2 4 0 5 5 9 ,.255 2666, 116 38, 190 2007, 110 620, 8 1 6 2987, 883 40, 580 2273, 365 6 7 3 ,.938 3101, 962 39, 8 2 8 2403, 043 659, 091 3 1 8 1 ,-058 4 1 ,.587 2465, 263 674, 2 0 8 3 3 8 0 ,.472 43, 5 0 5 2596, 068 740, 8 9 9 6 200, 146 2 3 4 ,,443 2 6 6 ,.461 317, 164 3 6 9 ,.035 400, 028 4 2 4 ,.473 4 6 3 ,.451 7 672, 704 780, 661 9 1 0 ,,165 1 0 1 5 ,.422 1 1 1 6 ,,079 1141, 734 1 2 5 6 ,,813 1 3 5 4 ,,520 8 9 10 143,,641 5 9 ,,207 2 9 ,,215 200 8 ,256 8 ,742 10 ,026 ,468 3• 2 4 ,527 162,,321 5 7 ,698 31 ,174 610 16 ,229 16 ,661 11 ,538 3 ,658 24 ,753 170,,820 5 0 ,,309 33,, 3 7 7 3,,000 18 ,843 21 ,804 13 , 1 0 5 3 ,687 2 6 ,695 196, 5 0 2 5 7 ,,071 37,,853 6,,993 2 8 ,, 4 1 5 2 4 ,, 6 2 3 18 ,701 3 ,490 19 , 3 5 6 220 47 47 18 33 ,443 ,373 ,758 ,416 ,422 ,965 2 0 ,214 3 ,470 2 6 ,825 2 6 6 ,.781 5 3 ,.252 5 9 ,.029 19,-031 4 2 ,,143 2 2 ,,553 30,,500 3,,536 36,,737 3 0 1 ,,914 61,,943 7 0 ,645 11,,153 4 8 ,387 2 5 ,680 3 8 ,498 4 ,201 4 1 ,407 326,045 74,,625 74,, 3 7 2 16,, 0 6 2 4 8 ,837 20,,593 42,, 6 7 4 4 ,066 4 4 ,816 Liquid assets Checkable dep. 8 currency Time deposits M o n e y market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 8 9 10 11 12 13 14 15 16 ,996 ,507 ,496 ,921 ,467 ,619 642 57 ,193 25 1 507 361 224 47 ,280 ,624 ,259 ,473 ,826 ,320 642 8 8 ,685 2 5 ,,254 3,,070 4 9 2 ,,177 3 5 4 ,, 4 5 2 2 1 3 ,347 5 0 ,030 714 9 0 ,361 28 4 544 377 215 53 ,589 ,501 ,409 ,400 ,934 ,493 723 107 ,250 30 7 592 398 221 58 ,632 ,193 ,477 ,173 ,941 ,635 724 116 ,873 Consumer credit Mutual fund shares Trade credit Miscellaneous assets Foreign direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 17 18 19 20 21 22 23 24 Credit market debt T a x - e x e m p t debt Corporate bonds Mortgages Home mortgages Multifamily Commercial 27 23 2? 30 31 32 33 12 13 14 15 16 23 ,648 618 ,375 ,699 ,761 ,415 581 43 ,942 ,728 ,060 ,309 ,248 ,240 ,949 633 61 , 4 2 6 24 1 434 279 178 38 24 1 482 309 208 43 23 24 2 2 ,231 790 ,020 , 022 ,382 ,833 539 34 , 2 6 8 25 2 6 6 6 ,649 3086 ,440 3523 ,478 3998 ,702 4 4 7 2 ,997 4 6 4 3 ,724 4 8 6 2 ,344 5 1 9 8 ,443 1027, 384 1157, 976 1289, 8 8 1 1 4 3 5 ,.706 1490, 164 1623, 8 3 7 1 8 6 2 ,,791 828, 781 45 8 9 2 365, 5 7 0 8 4 ,,977 5,,954 38,,648 4 0 ,,375 9 2 6 ,,605 5 9 ,,323 3 8 8 331 8 0 ,,495 4,,544 37,,408 38,,543 970, 006 74,.466 4 0 6 ,.997 34, 7 9 0 5,,056 30,.766 - 1 ,,032 1 0 4 9 ,,437 8 3 ,,897 4 2 2 ,.980 5 0 ,,316 5,,057 2 7 ,,597 17,,662 1 2 2 3 ,,863 1 0 4 ,439 4 6 9 ,,058 5 2 ,,600 5 ,056 2 5 ,823 2 1 ,721 230 4 28 17 44 8 ,332 ,199 ,026 ,076 ,333 ,376 2 6 1 ,,678 13 ,095 4 2 ,722 2 1 ,448 4 9 ,942 9 ,571 3 1 8 ,498 15,, 6 1 2 3 7 ,614 2 0 ,666 5 0 ,512 10 ,851 340 18 36 27 58 10 ,892 ,290 ,775 ,641 ,246 ,400 391 ,134 31,,339 5 8 ,490 30 ,432 74 ,771 11 , 6 0 0 17 18 19 20 21 308 198 135 27 364 229 151 33 26 898, 163 27 28 29 30 31 32 33 6 3 8 ,.630 17, 3 7 7 2 9 9 ,,491 106, 4 4 4 6,,778 31,,974 67,,692 706, 098 2 5 ,• 0 4 1 320, 607 116,.102 7,,573 34,,714 73 i ,815 773, 535 3 5 ,.028 3 3 7 ,• 9 1 5 105, 9 0 1 7,,035 37,.197 61,,669 34 35 36 37 38 39 1 5 4 ,918 645 12 , 8 0 8 11 , 4 4 2 31 , 4 7 9 4 ,026 1 7 5 ,120 901 15 ,499 9 ,908 37 ,206 5 ,714 204 2 24 13 42 6 40 41 42 17 , 8 2 6 2 0 7 ,112 34 , 5 9 5 19 ,871 2 5 8 ,944 4 2 ,471 20 ,224 309 ,755 54 ,462 30 ,305 347 ,749 8 3 ,046 2 4 ,016 3 7 6 ,371 108 ,714 14 , 1 9 6 381 ,285 124 ,677 19 , 0 5 3 4 1 8 ,288 137 , 0 5 9 2 2 ,361 451 ,986 1 6 4 ,581 43 1768 ,486 2 0 5 9 ,056 2 3 6 5 ,502 2 7 0 8 ,821 3 0 3 7 ,291 3153 ,560 3 2 3 8 ,507 3335 ,652 ,270 ,888 ,518 ,842 ,265 ,908 1745,630 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 47 48 36.1% 85.3% 34.2% 91.3% 32.7% 30.5% 64.0% 30.5% 76.2% 30.7% 70.1% 32.4% 64.0% 82.8% 50 51 52 53 54 2 3 4 5 Land 6 Bank loans n.e.c. Loans from foreign Commercial paper Acceptance liab.'to banks Nonbank finance loans U.S. government loans Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in Total corp. real „ U.S. 36.6% 75.6% 48.4% and net 1 3 3 4 ,.403 1 4 9 7 ,.745 1 6 9 0 ,,633 1879 ,332 2 0 8 6 ,898 2206, 488 2 3 3 9 ,,285 2 5 6 1 ,,120 1274, 988 15, 0 6 9 876, 462 3 8 3 ,,457 1 4 3 4 ,.108 15, 3 4 8 982, 063 436, 697 1 6 2 3 ,,381 15,,730 1 1 1 0 ,,306 4 9 7 ,,345 1805 16 1241 547 ,510 ,054 ,496 ,960 2 0 0 5 ,,222 16,,305 1 3 9 2 ,792 5 9 6 ,,125 2 1 1 9 ,.370 16, 7 1 8 1 5 2 5 ,.173 5 7 7 ,,479 2 2 4 4 ,>497 17,,117 1 6 3 9 ,909 5 8 7 ,471 2 4 5 7 ,,828 18 , 1 4 0 1789 ,575 6 5 0 ,113 Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to n e t w o r t h ( 4 5 / 4 3 ) worth on historical Tangible cost 63,,637 67 ,252 73 ,822 8 1 ,676 8 7 ,,118 9 4 ,788 103 ,292 2 0 0 7 ,107 2 2 7 8 ,,406 2 6 0 0 ,798 2 8 9 4 ,754 3 2 0 2 ,, 9 7 7 3 3 4 8 ,, 2 2 2 3 5 9 6 ,098 3 9 1 5 ,640 57 1108 ,944 1 2 5 1 ,,022 1442 ,822 1604 ,873 1 7 6 7 ,271 1 8 5 8 ,,058 1 9 7 2 ,261 2 0 5 2 ,849 N e t Total 45 46 47 48 49 50 51 52 53 54 55 Land 5 9 ,415 56 40 41 42 basis: assets Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 55 3^ 35 36 37 38 39 estate M a r k e t v a l u e of e q u i t i e s , 1617,733 including corp.farm equities ( N e t w o r t h of c o r p o r a t e f a r m s , 46,851 from farm sector t a b l e ) 49 Tangibles Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 56 assets 57 worth Memo: 58 434,695 469,517 519,252 575,961 645,530 714,298 767,369 835,410 59 57.5% 56.4% 53.6% 51.6% 52.4% 52.2% 53.2% 59.6% in m i l l i o n s of Data are dollars. Total real Debt-net estate worth ratio 58 (27/57) 59 S e p t e m b e r 1991 Nonfinancial Corporate Business Nonfinancial Sector Year-End Balance Sheet with Tangible at Current Year-End 1986 1987 Nonfinancial 1 Tangible assets (current cost) 2 3 4 5 Reproducible assets Residential structures Nonres. plant 8 equipment Inventories 6 Land financial assets 1988 Corporate 1989 Business, 3992, 8 2 2 4 1 5 0 ,,772 4 3 8 0 ,,424 4 6 3 4 ,899 4 8 7 3 ,847 5 0 3 0 ,380 1 3 4 9 8 ,.631 44, 8 6 6 2700, 543 7 5 3 ,- 2 2 2 3 6 2 4 ,,653 4 5 ,743 2 8 2 9 ,795 7 4 9 ,115 3 8 2 7 ,,696 4 8 ,,761 2 9 6 7 ,240 8 1 1 ,,695 4 0 5 8 ,366 4 8 ,998 3 1 2 9 ,356 8 8 0 ,, 0 1 2 4271 51 3294 924 4413 50 3426 936 ,251 ,103 ,321 ,827 2 3 4 5 6 ,086 ,552 ,622 ,912 4 9 4 ,,191 5 2 6 ,119 5 5 2 ,,728 5 7 6 ,533 6 0 2 ,761 6 1 7 ,129 1 4 4 4 ,,400 1 6 0 8 ,582 1 7 4 5 ,,579 1 8 6 5 ,575 1 9 8 4 ,617 2 0 8 0 ,561 3 5 5 ,299 94,,043 8 0 ,,292 14,,520 5 8 ,346 18 ,844 3 9 ,030 4 ,902 4 5 ,322 4 1 6 ,098 112,,832 8 7 ,509 18,,122 7 0 ,500 2 4 ,772 5 3 ,494 7 ,968 4 0 ,901 4 4 0 ,• 8 1 9 120,,399 91,,591 18,,945 71,,329 2 4 ,,333 5 7 ,,044 10,, 5 3 2 4 6 ,646 4 3 5 ,673 135 ,430 91 ,569 15 , 6 4 8 79 ,538 13,,121 51 ,335 1 2 ,029 37 ,003 4 5 0 ,717 127 ,995 98 ,569 19 , 6 9 2 8 3 ,538 17 , 5 5 6 5 1 ,, 3 3 5 11 ,029 4 1 ,,003 474 128 105 22 79 24 61 10 42 17 18 19 20 21 Consumer credit M u t u a l fund s h a r e s Trade credit Miscellaneous assets Foreign direct investment Insurance receivables E q u i t y in s p o n s . a g e n c i e s Other 3 2 ,302 1 0 ,799 6 3 4 ,203 4 1 1 ,, 7 9 7 2 3 7 ,671 6 3 ,739 831 1 0 9 ,556 32 15 663 480 262 83 ,409 ,676 ,659 ,740 ,353 ,893 913 1 3 3 ,581 35 12 725 531 313 94 1 122 36 10 786 596 329 105 1 159 35 13 813 670 363 122 1 183 ,403 787 ,762 ,948 ,304 ,557 ,307 ,780 37 13 838 716 406 138 ,162 ,817 ,167 ,614 ,012 ,781 ,289 ,532 ,481 ,627 ,684 ,110 ,478 ,757 ,295 ,580 25 Total assets 5 4 3 7 ,222 5 7 5 9 ,354 6 1 2 6 ,003 6 5 0 0 ,474 26 Total liabilities 2051 , ,519 2 3 1 2 ,803 2 5 4 2 ,318 1 3 6 2 ,391 1 2 7 ,039 5 4 2 ,606 33,,599 4 ,806 2 1 ,,690 7,,103 1570 117 669 61 6 22 32 ,603 ,138 ,430 ,656 ,727 ,193 ,736 4 2 4 ,083 32,,881 72,• 2 0 7 28, 323 8 7 ,,423 14,,230 473 43 62 28 98 14 Credit market debt Tax-exempt debt Corporate bonds Mortgages Home mortgages Multifamily Commercial Bank loans n.e.c. L o a n s from foreign Commercial paper A c c e p t a n c e l i a b . to b a n k s Nonbank finance loans U.S. government loans 34 35 36 37 38 39 40 41 42 43 Profit taxes payable Trade debt F o r e i g n d i r e c t i n v . in Net U.S. worth Outstandings Farms Liquid assets Checkable dep. 8 currency Time deposits M o n e y market fund shares Security RPs Foreign deposits U.S. government securities Tax-exempt obligations Open-market paper 27 28 29 30 31 32 33 Business 1990 Excluding 8 9 10 11 12 13 14 15 16 23 24 Corporate Cost Outstandings 1985 7 Total Assets 6 8 5 8 ,464 7 ,167 ,453 ,069 ,192 ,288 ,598 ,085 ,779 ,703 8 9 10 11 12 13 14 15 16 ,078 ,927 ,587 ,802 ,646 ,057 ,332 170 , 7 6 7 17 18 19 20 21 22 23 24 7 1 1 0 ,941 25 2 8 1 6 ,750 3 0 8 0 ,031 3 1 9 3 ,, 5 2 7 26 ,620 ,224 ,796 ,267 ,642 ,924 71 ,701 1899 116 851 100 7 23 68 ,528 ,292 ,697 ,163 ,715 ,909 ,539 2064 115 925 111 5 24 80 ,823 ,151 ,400 ,473 ,920 ,839 ,714 2142 116 975 108 4 25 77 ,126 ,046 ,141 ,272 ,647 ,935 ,690 27 28 29 30 31 32 33 ,976 ,948 ,865 ,129 ,711 ,750 4 7 8 ,057 4 5 ,845 7 3 ,768 3 2 ,575 1 1 5 ,633 111,455 510 56 85 32 135 9 ,871 ,856 ,676 ,620 ,446 ,907 543 69 107 35 146 9 ,970 i ,848 ,112 ,801 ,518 ,550 545 83 116 29 159 8 ,414 ,265 ,852 ,179 ,207 ,750 34 35 36 37 38 39 18,,490 4 8 6 ,,025 184,,613 2 2 ,073 4 9 9 ,715 2 2 0 ,412 26,, 3 3 0 5 1 9 ,580 2 7 1 ,,788 2 5 ,650 5 6 2 ,721 3 2 8 ,851 2 3 :,851 5 9 0 •540 4 0 0 ,817 2 6 ,004 621 ,662 4 0 3 ,735 40 41 42 3 3 8 5 ,,703 3 4 4 6 ,551 3 5 8 3 ,,685 3 6 8 3 ,724 3 7 7 8 ,433 3 9 1 7 ,414 43 1821,547 1888,364 1983,797 2060,803 2163,203 2204,465 44 2022,648 2332,629 2344,029 2576,651 3211,422 2915,021 45 42,597 42,057 44,787 50,366 54,625 59,037 46 40.2% 67.3% 45.5% 67.3% 48.1% 73.5% 51.5% 73.7% 54.6% 64.2% 54.6% 73.4% 47 48 59.7% 67.6% 65.4% 69.9% 84.9% 74.4% 49 1724 116 748 102 7 Memo: 44 45 46 47 48 49 Total corp. estate Debt-net worth ratio (27/43) Debt-equities ratio (27/45) R a t i o of m a r k e t v a l u e to net w o r t h ( 4 5 / 4 3 ) Tangibles 50 real M a r k e t v a l u e of e q u i t i e s , including corp.farm equities ( N e t w o r t h of c o r p o r a t e f a r m s , from farm sector t a b l e ) Tangible and net worth on historical assets Reproducible assets 51 52 53 54 R e s i d e n t i a l structures* Nonres. plant 8 equipment Inventories Land 55 56 Total 57 Net assets worth cost basis: 2739, 915 2877, 780 3057, 959 3267, 004 3454, 555 3 6 0 2 , 103 50 2 6 2 4 , 946 19, 159 1944, 097 661, 690 2756, 737 20, 254 2077, 376 659, 107 2928, 443 21, 386 2197, 838 709, 2 1 9 3 1 2 8 ,.422 22, 281 2333, 792 772, 349 3306, 272 23, 224 2461, 823 821, 225 3443, 440 2 3 , 981 2581, 411 838, 048 51 52 53 54 55 114, 969 121, 043 129, 5 1 6 138, 5 8 2 148, 283 158, 663 4 1 8 4 , 315 4486, 362 4803, 538 5132, 579 5439, 172 5682, 664 56 2132, 796 2173, 559 2261, 220 2315, 829 2 3 5 9 , 141 2 4 8 9 , 137 57 912, 767 969, 427 1016, 289 1069, 914 1117, 006 1169, 154 58 63 .8% 72 . 2 % 87 .5% 8 6 .0% 59 Memo: 58 Total 59 Debt-net Data are real in estate worth ratio millions of (27/57) dollars. 76• . 2 % 8 2 !. 0 % S e p t e m b e r 1991 Private Financial Private Institutions Sector Year-End Balance with Sheet Tangible Assets at Current 1946 1947 1948 Private Financial 1949 1950 1951 1952 3, 330 3, 6 9 1 4 , 151 4, 331 2, 6 7 4 329 2, 8 8 2 365 2, 953 377 3, 2 6 3 428 3, 6 5 8 493 3, 8 0 7 524 234, 430 246, 561 257, 154 271, 639 292, 525 313, 065 339, 755 4, 729 74 5 ,.105 64 5, 2 4 9 56 5, 4 9 0 50 6, 0 7 8 53 6, 6 9 2 129 6, 8 9 4 170 128 169 2, 766 2, 484 282 2, 5 6 9 296 5 2 3 6 , 941 6 7 8 9 10 11 4 , 041 68 12 13 14 15 16 17 4, 770 199, 348 130, 707 3 •5 6 0 6; 2 5 0 17, 9 0 5 3, 0 0 3 2, 8 6 5 67 73 63 55 49 53 - - - - - - 4, 9 2 3 200: 056 116,,043 3,• 9 9 0 6,,615 2 0 ,,041 Outstandings Institutions 3, 2 4 7 1 2 3 4 Institutions 37 Year-End Outstandings 1945 Financial Cost - - 5,,271 2 1 0 ,, 1 5 2 108,,846 4 ,059 7 ,587 2 3 ,,676 5 ,559 2 1 7 ,,409 9 9 ,704 4,,920 8 ,628 2 8 ,481 8, 065 2 3 1 ,,749 1 0 3 i1 9 3 4,,952 10,,173 31,,949 9, 4 1 2 2 4 8 =134 96, 6 7 2 4,,604 12,,506 34,,274 10, 2 5 7 264, 264 93, 5 1 7 4,.285 14, 1 2 5 37,.918 11, 8 6 6 2 8 7 ,,569 95,, 7 3 2 4,, 5 4 2 15 , 7 7 6 4 2 ,874 Tangible assets Residential structures Nonres. plant 8 equipment Land 1 2 3 4 Total 5 financial assets Checkable dep. 8 currency Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s L a r g e time d e p o s i t s Fed. funds 8 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 26,, 1 6 7 5 ,724 16 ,321 418 4 ,510 227 3 2 ,045 8 ,340 2 0 ,523 499 4 ,316 261 3 8 ,043 10 , 4 9 9 21 ,844 485 4 ,546 259 4 3 ,178 12 ,931 2 0 ,116 499 4 ,486 272 5 2 ,164 16 ,209 2 5 ,750 686 4 ,875 394 5 9 ,,934 16,.879 30,,805 1 ,025 , 5,,286 490 67 20 32 1 5 23 2 1 •, 1 5 4 3 !>401 11 ,,347 239 4,,631 154 ,517 ,801 ,719 ,276 ,840 492 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 18 19 20 21 22 23 24 25 26 27 8,,075 17,,784 361 2,,427 3 ,751 18 , 1 8 5 478 2 ,161 2 ,688 2 0 ,115 578 2 ,525 2 ,915 2 2 ,457 652 2 ,802 3 ,658 18 , 5 7 8 723 3 ,277 4 ,453 19 , 8 5 5 740 3 ,747 4 ,132 22,,753 850 3,,860 4 ,865 2 2 ,703 948 4 ,571 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 24 25 26 27 28 2 3 9 ,707 2 3 7 ,295 2 4 9 ,564 2 6 0 ,401 2 7 4 ,969 2 9 6 ,216 3 1 7 ,216 344 ,086 Total assets 28 29 2 1 8 ,588 2 1 4 ,846 2 2 5 ,997 2 3 5 ,708 2 4 8 ,845 2 6 7 ,521 2 8 6 ,961 311 ,676 Total liabilities 29 30 31 32 33 34 101 ,659 5 0 ,270 8 7 ,835 56 ,617 90 ,064 60 ,032 8 9 ,488 62 ,244 90 ,329 6 4 ,861 95 ,924 67 »322 102 ,743 72 ,303 107 ,902 8 0 ,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 , 2 4 4 1 ,505 41 ,147 11 , 6 7 4 1 ,644 43 ,777 13 , 3 0 7 1 ,761 4 6 ,444 15 , 0 9 2 2 ,133 49 ,080 17 ,511 3 ,289 51 ,635 2 0 ,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 , 7 3 3 348 12 , 0 6 2 495 13 , 5 9 9 708 14 , 9 4 0 868 16 , 3 5 4 1 ,098 17 , 7 7 1 1 ,434 2 0 ,008 49 50 51 21 , 1 1 9 - 7 7 ,211 98 ,330 22 ,449 17 , 5 7 6 4 ,873 23 ,567 18 , 2 9 7 5 ,270 24 ,693 18 , 9 2 8 5 ,765 2 6 ,124 19 , 8 1 0 6 ,314 28 ,695 21 , 6 2 2 7 ,073 30 ,255 2 2 ,639 7 ,616 32 ,410 24 ,254 8 ,156 Net worth Approximate Approximate 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 2 6 ,879 3 ,087 30 ,669 3 ,151 Memo: M a r k e t v a l u e of e q u i t i e s Total real estate 18 19 20 21 Data are in millions of dollars. . Checkable deposits Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s Large time deposits Fed. funds 8 security RPs 30 31 32 33 34 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 35 36 37 M u t u a l 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 S e c u r i t y debt Trade debt Taxes payable Miscellaneous 45 46 47 48 liabilities share share stock other cos. cos. 49 50 51 52 53 S e p t e m b e r 1991 Private Financial Institutions 38 Year-End Private Sector Balance Sheet with Tangible Current 1 Tangible assets 2 Residential structures 5 Nonres. plant 8 equipment 4 Land financial Financial 1954 1955 assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s 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 C u s t . l i a b . on a c c e p t a n c e s 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets Institutions Cost Year-End Private Total at Outstandings 1953 5 Assets 1956 1957 Financial Institutions Outstandings 1958 1959 1960 4 ,668 5 ,040 5 ,850 6 ,749 7 ,367 7 ,918 8 ,612 9,230 1 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 3 4 362 ,327 394 ,172 4 2 7 ,447 4 5 2 ,947 4 7 6 ,870 5 2 3 ,307 5 5 8 ,695 5 9 7 ,309 5 7 ,220 205 7 ,573 283 7 ,911 348 7 ,978 431 8 ,202 500 8 ,877 668 8 ,636 724 9 ,062 721 6 7 205 283 348 431 499 667 724 721 9 10 12 307 96 6 17 47 ,941 ,431 ,182 ,044 ,841 ,602 75 24 31 1 6 ,806 ,507 ,545 ,165 ,166 573 5 ,729 ,672 1 ,006 4 ,918 17 332 101 5 21 51 ,728 ,683 ,548 ,865 ,260 ,873 24 357 93 5 22 54 ,144 ,182 ,931 ,253 ,825 ,857 25 379 89 4 24 58 ,946 ,251 ,716 ,832 ,140 ,683 25 402 88 5 26 65 ,530 ,523 ,839 ,197 ,449 ,157 36 435 97 5 30 70 8 6 ,499 2 5 ,510 31 , 7 2 3 1 ,147 6 ,385 873 100 ,739 31 , 7 0 6 39 ,235 942 7 ,052 642 112 34 44 1 7 ,799 ,872 ,870 ,007 ,365 967 121 37 46 1 8 1 ,385 ,445 ,746 ,319 ,679 ,307 133 ,645 37 ,567 4 7 ,263 1 ,797 9 ,047 1 ,194 ,526 ,345 ,064 ,687 8 ,645 21 ,687 ,156 6 ,026 8 22 1 7 ,023 ,320 ,291 ,276 7 22 1 8 ,726 ,369 ,451 ,070 7 21 1 5 9 21 1 9 ,361 206 ,785 ,713 ,508 ,687 42 463 90 4 32 74 ,634 ,844 ,983 ,795 ,791 ,907 46 497 92 5 34 79 ,259 ,744 ,783 ,513 ,835 ,545 1 4 8 ,301 43 ,670 53 ,879 2 ,468 10 , 8 9 9 1 ,151 161 48 57 2 13 2 ,284 ,423 ,509 ,405 ,420 ,027 ,172 ,753 ,599 ,004 9 ,414 21 ,186 1 ,782 9 ,751 13 14 15 16 17 18 19 20 21 23 9 ,615 24 2 0 ,427 25 1 ,934 26 10 ,846 2 7 28 Total assets 3 6 6 ,995 399 ,212 4 3 3 ,297 4 5 9 ,696 4 8 4 ,237 5 3 1 ,225 5 6 7 ,307 6 0 6 ,539 29 Total liabilities 3 3 2 ,655 3 5 9 ,960 3 9 0 ,085 4 1 3 ,787 4 3 7 ,409 4 7 9 ,005 5 1 1 ,524 5 4 7 ,239 2 9 1 0 8 ,025 8 8 ,446 1 1 2 i,538 97 8 0 8 1 1 4 ,678 106,,581 116,,493 116,,213 1 1 5 ,841 128,,299 1 2 1 ,409 142,, 5 7 2 1 2 2 ,979 1 5 4 ,096 1 2 5 ,022 1 6 5 ,818 5 ,824 37 7,,011 -20 6,,693 -205 6,,489 -210 6,,701 -313 9 ,290 -252 ,552 -28 5 7 ,,388 2 8 ,,538 3,,251 60,,389 33, 2 9 5 3,,142 63, 4 5 9 40, 4 9 8 4,,290 66,,626 4 5 ,,679 4,,655 69,,277 51, 332 4,,159 72,- 2 9 4 60, 4 3 6 4 ,,264 75, 6 0 6 69,,246 5,,144 78,,758 76,,728 5,,780 4,,146 9, 8 9 9 3,,681 6, 1 0 9 10,,094 3, 6 0 4 7,,838 13, 9 4 3 4, 5 2 8 9,,046 14,,796 5, 609 8, 714 16, 3 7 6 6, 3 5 4 13, 2 4 1 15, 6 5 5 6, 5 5 6 15, 8 1 8 19, 3 5 8 7, 7 3 3 17, 0 2 6 3 8 22, 985 39 9, 1 1 2 4 0 3, 0 4 4 2, 2 2 2 952 3, 2 5 0 2, 373 867 5,,611 2, 3 8 7 1, 4 1 7 5, 110 2, 8 4 9 1, 2 2 8 5, 113 3, 6 4 4 1 ,2 6 5 4, 4 0 6 3, 3 9 5 1, 2 9 8 5, 441 4, 050 2, 134 6, 117 4 2 5, 775 43 1, 9 8 1 4 4 3, 4 4 5 4, 450 4, 746 4, 158 4, 287 4,848 4,8 8 7 5, 382 1, 9 0 3 21, 753 1, 6 3 4 23, 510 1, 2 6 0 26, 304 1 ,4 5 2 28, 390 1, 6 3 5 3 1 , 101 1, 698 33, 550 1, 3 8 7 35, 479 2, 364 36, 519 45 46 47 48 34, 340 25, 477 8, 863 39, 2 5 2 29, 313 9, 9 3 9 43, 212 31, 949 11, 2 6 3 45, 909 33, 787 12, 122 46,828 62, 277 -15, 449 52, 220 38, 044 14, 176 55, 783 40, 486 15, 2 9 7 59, 300 4 2 , 999 1 6 , 301 49 50 51 28, 754 3, 3 2 7 3 3 , 991 3, 604 37, 5 6 2 4, 204 37, 154 4,865 45, 586 5, 340 59, 559 5,813 73, 182 6, 352 75, 874 6,8 5 4 52 53 30 31 32 33 34 Checkable deposits Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s Large time deposits Fed. funds 8 security RPs 35 36 37 Life insurance reserves P e n s i o n fund r e s e r v e s Interbank c l a i m s , net 38 39 40 41 42 43 44 M u t u a l fund shares Credit market instruments Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Other loans 45 46 47 48 S e c u r i t y debt Trade debt Taxes payable Miscellaneous liabilities 49 50 51 Net worth Approximate Approximate 52 53 Memo: M a r k e t v a l u e of e q u i t i e s Total real estate Data are in share share millions of stock other cos. cos. dollars. 7 28 30 31 11,,119 3 3 - 2 6 2 34 35 36 37 S e p t e m b e r 1991 Private Financial Private Institutions Sector Year-End Balance with Sheet Tangible Assets at Current Yeai—End Institutions 9, 941 10, 968 11, 8 3 5 13, 2 8 7 15, 027 16, 749 18, 370 4 7, 7 9 0 2 , 151 8, 598 2, 370 9, 2 9 2 2, 543 10, 4 8 8 2, 799 12, 007 3, 020 13, 5 8 0 3, 169 15, 243 3, 127 21, 531 101 18, 128 3, 3 0 2 5 656, 978 705, 785 771, 129 845, 972 926, 854 974, 647 1076, 260 1184, 251 11, 8 7 6 1, 1 2 6 11, 4 9 1 1, 0 3 7 11 ,8 6 3 1, 1 3 3 12, 5 0 3 1, 0 5 3 1, 1 2 6 1, 2 5 8 1, 8 8 7 2, 096 107 10, 2 1 2 877 1 1 , 141 960 11, 189 1, 0 2 3 11, 491 1, 1 1 8 877 959 1 ,0 2 3 1, 1 1 8 - - 10 11 - " - - - 3 3 3 ,.355 1 0 1 ,.676 127,, 8 8 0 7,,389 2 7 ,, 7 9 6 4 ,428 15,,263 2 3 ,,298 2,,649 17,,856 15,,824 2 5 ,.244 2,.898 19,,583 2 0 ,.498 2 7 ,.023 3,,176 2 2 ,,199 2 4 ,,659 2 9 ,054 3• ,476 2 5 ,271 1 0 9 4 ,630 1205 ,782 Total assets Total liabilities 99, 754, 94, 10, 57, 111, 18 19 20 21 22 23 1 7 7 ,,338 50, 688 60, 5 8 4 ,707 2 i 14,,125 2,,683 197, 8 7 3 55, 639 6 6 ,,697 3,.141 14,,796 2,,650 223, 583 6 2 ,• 9 7 2 7 3 ,,771 3,.170 16,, 6 3 2 2,, 8 9 0 2 4 9 ,.213 71,.292 8 2 ,.015 3,.577 18, 7 0 7 3,,385 2 7 4 ,,728 8 0 ,• 2 2 3 9 8 ,.026 3,,511 21, 2 1 0 3,.392 24 25 26 27 11,.772 2 1 ,,076 1 ,993 11 ,703 12,.423 2 1 ,.973 2 .201 13,,224 136 524 313 428 099 594 28 6 6 6 ,919 7 1 6 ,753 7 8 2 ,964 8 5 9 ,259 9 4 1 ,,881 9 9 1 ,,396 29 6 0 0 ,671 6 4 7 ,705 7 1 0 ,322 7 8 0 ,690 8 5 8 ,430 9 0 6 ,,741 1 0 0 3 ,141 1106 ,263 30 31 32 33 34 130 ,140 184 ,107 1 3 4 ,711 2 0 9 ,910 136 ,925 2 3 5 ,499 1 4 3 ,641 261 ,152 148,,953 2 8 8 ,408 1 5 0 ,759 3 0 6 ,429 1 6 2 ,896 3 4 1 ,129 176 ,210 3 6 7 ,734 13 , 5 6 9 14 16 , 4 0 8 63 2 0 ,353 26 2 5 ,119 540 31 ,033 1 ,749 33 ,356 1 ,674 3 9 ,269 1 ,659 4 6 ,009 2 ,586 35 36 37 8 2 ,112 8 8 ,649 7 ,010 8 5 ,754 93 ,639 6 ,849 8 9 ,860 1 0 6 ,041 6 ,844 94 ,172 1 2 0 ,821 6 ,864 98 ,863 135 ,770 6 ,794 103 ,450 144 ,150 10 , 5 5 2 108 ,335 165 ,020 11 , 0 0 0 113 ,138 185 ,427 14 , 9 7 6 38 39 40 41 42 43 44 2 2 ,875 24 ,669 9 ,262 21 ,271 2 7 ,943 9 ,222 2 5 ,214 33 ,472 10 , 5 3 0 2 9 ,116 38 ,847 12 , 8 3 4 35 ,220 4 5 ,267 1 5 ,051 34 ,829 49 ,072 15,275 4 4 ,307 4 7 ,968 15 , 9 5 4 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 , 9 2 9 5 ,997 11 , 2 0 0 15 , 6 6 2 6 ,935 45 46 47 48 6 ,256 7 ,066 7 ,739 8 ,377 8 ,737 1 ,392 39 ,678 1 ,947 4 2 ,144 1 ,548 4 6 ,801 1 ,759 5 0 ,282 1 ,786 5 5 ,850 49 50 51 66 , 2 4 8 48 ,344 17 , 9 0 4 69 ,048 5 0 ,285 18 , 7 6 3 72 ,642 5 2 ,682 19 , 9 6 0 78 ,569 5 7 ,185 21 ,384 55 53 117 , 9 2 5 7 ,529 90 ,529 8 ,366 110 ,586 9 ,065 118 ,184 10 ,073 millions of dollars. Corporate equities Credit market instruments U.S. Treasury securities Federal agency securities State 8 local obligations Corporate 8 foreign bonds 310, 681 91, 0 1 4 114, 157 7, 4 4 6 24, 316 4,.317 83, 861 692, 364 98, 411 9, 5 0 1 5 2 ,-403 103, 8 6 0 in assets 292, 558 86, 037 1 0 7 ,,803 5,,324 23, 723 3,,603 70, 8 2 1 634, 368 97, 066 8, 660 48, 8 2 5 9 6 ,,799 are financial Checkable dep. 8 currency Small time 8 savings dep. M o n e y m a r k e t fund shares Large time deposits Fed. funds 8 security RPs Foreign deposits 145, 7 5 5 940, 2 7 7 97, 9 8 7 17,.796 7 9 ,.689 1 4 2 ,.281 58- 089 584, 815 100, 5 4 0 8, 225 44, 443 90, 8 1 1 Data Total 122, 8 0 8 865, 673 95, 2 8 4 15, 0 4 9 70, 160 133, 2 4 9 61, 385 537, 083 99, 057 6, 3 6 4 38, 6 8 5 84, 8 5 2 15,,045 2 2 ,382 2 ,484 16 ,109 - Tangible assets Residential structures Nonres. plant 8 equipment Land 94, 8 1 5 802, 497 91, 083 11, 8 2 3 59, 718 120, 8 2 5 12 13 14 15 16 17 15 , 0 8 3 2 1 ,, 3 0 8 2 ,332 13 , 9 8 2 Outstandings 1967 1965 Financial Institutions 39 Cost Outstandings Private 6 Financial Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans C u s t . l i a b . on a c c e p t a n c e ; Security credit V a u l t cash 8 c o m m . bank res Trade credit Miscellaneous finan. assets 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Checkable deposits Small time 8 savings dep. M o n e y m a r k e t fund shares Large time deposits Fed. funds 8 security RPs 30 31 32 33 34 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 35 36 37 9 ,217 18 ,411 4 ,386 51 ,232 53 ,946 16 , 4 0 0 200 10 , 6 9 1 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 9 ,576 12 , 7 4 5 16 , 1 9 9 1 ,741 61 , 1 5 3 1 ,548 67 ,265 1 ,708 77 ,098 S e c u r i t y debt Trade debt Taxes payable Miscellaneous 45 46 47 48 8 3 ,451 6 0 ,318 2 3 ,133 8 4 ,655 60 ,957 23 ,698 91 , 4 8 9 65 ,518 2 5 ,971 99 ,519 71 , 3 0 8 2 8 ,211 154 ,980 11 , 1 7 8 139 ,277 12 , 2 2 0 167 ,022 1 2 ,751 238 ,394 14 , 6 9 9 Net worth Approximate Approximate liabilities share share stock other Memo: M a r k e t v a l u e of e q u i t i e s Total real estate cos cos 52 53 S e p t e m b e r 1991 Private Financial Institutions 40 Yeai—End Private Sector Balance Sheet with Tangible Assets at Current Financial Institutions Cost Outstandings Year-End Outstandings 1973 Private 1 Tangible assets 2 Residential structures 3 Nonres. plant 8 equipment Land 4 5 Total financial assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. M o n e y m a r k e t 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 24 ,436 194 2 0 ,686 3 ,556 2 7 ,203 260 2 3 ,255 3 ,688 1239 ,468 1338 ,622 12 , 0 6 3 832 12 , 7 6 5 1 ,040 2 ,526 442 1 • 797 336 141 999 84 19 81 150 ,746 ,233 ,549 ,421 ,238 ,735 151 1077 91 26 93 165 ,178 ,106 ,535 ,177 ,798 ,305 18 19 20 21 22 23 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 355 111 145 10 35 5 ,063 ,592 ,151 ,749 ,284 ,451 375 115 151 12 37 7 ,439 495' ,576 ,846 ,877 ,058 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 20 29 3 30 ,021 ,405 ,898 ,137 20 31 4 37 ,174 ,197 ,370 ,824 31 , 1 2 3 372 26 ,823 3 ,928 Financial Institutions 35 ,515 670 30 ,559 4 ,286 41 ,080 890 35 5 7 0 4 ,620 51 ,376 1 ,296 44 ,775 5 ,305 1510 ,808 1741 ,470 1894 ,990 13 , 7 9 2 1 ,492 15 , 7 4 6 1 ,805 16 4 5 5 1 ,611 4 ,269 1 ,168 6 ,136 1 ,667 7 ,083 3 ,709 59 2 51 5 ,365 ,157 ,734 ,474 67,968 2,732 59,231 6,005 2 0 0 3 ,697 2 2 3 7 ,540 2498,684 17 ,101 1 ,895 19 ,011 2 ,124 20,005 2,073 12 , 6 8 9 6 ,107 2 1 ,909 5 ,059 20,005 5,516 - 9 10 1 1 196 1185 90 34 110 180 ,720 ,572 ,779 ,266 ,375 ,266 238 1339 93 44 122 197 ,903 ,236 ,696 ,858 ,126 ,437 206 1510 83 57 131 208 ,514 ,878 ,799 ,396 ,457 ,255 160 1652 82 65 138 223 ,149 ,327 ,856 ,526 595 ,853 218 1782 125 76 146 254 ,956 ,096 ,304 ,595 ,332 ,888 253,735 1985,517 164,212 85,626 159,448 283,441 416 128 163 13 40 7 ,425 ,691 ,017 ,642 ,222 ,889 476 147 189 15 45 6 ,724 ,121 ,019 ,992 ,365 ,898 542 170 237 18 52 8 ,307 ,287 ,809 , 153 ,523 ,892 580 178 2 78 25 60 18 ,302 ,896 ,672 ,118 ,025 ,484 614 183 265 31 65 18 ,250 ,666 ,227 ,760 ,347 ,727 677,171 204,452 271,904 41 , 4 4 6 75,294 22,523 23 35 4 44 ,525 ,329 ,661 ,280 32 34 5 65 ,056 ,295 ,842 ,784 24 37 6 80 ,300 ,748 ,485 ,207 2 0 ,546 37 ,483 7 -020 88,380 23 38 7 118 ,634 ,304 ,668 ,779 34,166 24 37,279 25 8 , 8 7 8 26 131,510 27 12 13 14 15 16 28 Total assets 1 2 6 3 ,904 1 3 6 5 ,825 1 5 4 1 ,931 1776 ,985 1936 ,070 2 0 5 5 ,073 2 2 9 6 ,905 2566,652 28 29 Total liabilities 1 1 6 2 ,500 1 2 6 0 ,605 1 4 2 5 ,564 1 6 4 5 ,655 1792 ,062 1 9 1 1 ,526 2 1 4 7 ,846 2395,420 29 30 31 32 33 34 Checkable deposits Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s Large time deposits Fed. funds 8 security RPs 1 8 0 ,864 3 8 1 ,,736 190 ,202 4 1 2 ,241 2 0 3 ,, 4 0 2 4 8 0 ,,509 2 2 3 ,190 5 5 0 ,, 0 3 8 2 3 6 ,121 5 8 9 ,205 3 0 i,485 8 :,707 5 4 ,692 4 ,650 68,,115 8,,666 8 6 .914 11,,159 1 2 6 ,021 2 7 ,,416 2 3 6 ,087 6 2 6 ,798 2 ,379 167 ,087 30,,495 2 4 4 ,,045 7 2 4 ,,657 3,,696 158,,153 32,,914 258,265 846-074 3,686 144,277 49,086 30 31 3P 33 34 35 36 37 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 118,.110 194,,623 2 2 ,,241 123,,345 2 1 3 ,,291 17,,277 129,,626 247, 524 11 ,,925 136,,349 2 9 7 ,.948 10, 7 3 0 143 ,522 3 0 2 ,,483 4,, 8 8 7 150,,528 3 0 7 ,089 4,,591 158, 4 7 4 402, 163 -7, 947 167,073 461,039 -15,963 35 36 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 47, 5 8 7 70, 8 0 7 17, 2 2 6 430 11, 1 1 2 32, 750 9, 2 8 9 4 6 ,,811 76,• 7 5 6 21, 002 546 11,,526 33, 0 6 7 10, 6 1 5 55, 4 4 6 8 1 ,4 1 9 25, 906 680 13, 0 5 0 33, 8 4 7 7, 9 3 6 58, 926 96, 3 3 2 32, 953 1, 1 6 0 19, 5 2 0 34, 720 7, 9 7 9 4 6 ,,635 1 2 3 ,,449 3 7 ,,393 1, 4 8 0 27, 757 4 1 ,6 7 2 15, 147 35, 151 150, 6 8 6 40, 4 7 3 1,,649 31 ,,641 55, 119 21, 804 43, 034 151 , 7 3 9 4 7 ,,361 2, 0 2 8 28, 076 56, 429 17, 8 4 5 46,510 159,593 53,872 2,416 24,985 62,458 15,862 38 39 40 41 42 43 44 45 46 47 48 S e c u r i t y debt Trade debt Taxes payable Miscellaneous 13, 1 7 3 14, 1 5 3 15, 2 9 9 19, 5 0 2 16, 0 7 5 13, 1 5 0 16, 034 1. 8 9 4 92, 273 2, 4 7 9 104, 708 2, 4 4 3 121, 190 2, 4 5 0 152, 117 2, 6 0 8 173, 640 2, 693 184, 792 2, 437 218, 447 23,385 45 46 2,960 47 249,435 48 101, 404 73, 729 27, 675 105, 2 2 0 76, 8 1 7 28, 403 116, 367 8 3 , 984 32, 383 131 , 3 3 0 94, 799 36, 531 144, 008 105, 475 38, 533 143, 547 104, 915 38, 632 149, 059 105, 564 43, 495 171,232 122,295 48,937 49 50 51 2 1 3 , 170 16, 739 204, 308 18, 4 5 2 237, 203 20, 974 272, 367 23, 683 212, 964 26, 420 133, 602 31, 443 155, 563 34, 927 208,193 38,670 52 53 liabilities 49 50 51 Net worth Approximate Approximate 52 53 Memo: M a r k e t v a l u e of e q u i t i e s Total real estate Data are in share share millions of stock other cos. cos. dollars. S e p t e m b e r 1991 Private Financial Private Institutions Sector Year-End Balance Sheet with Tangible Assets at Current Year-End 1978 1979 1980 Private 1981 Financial 1982 1983 Institutions ^ 1 Outstandings 1977 Financial Cost Outstandings 1984 Institutions 1 2 3 4 150, 7 2 7 T a n g i b l e a s s e t s Residential structures 1, 4 1 3 Nonres. plant 8 equipment 1 3 9 ,.539 Land 9,,775 1 2 3 4 75, 8 9 4 2, 718 66, 8 4 9 6, 3 2 7 82, 496 1, 4 0 2 74, 8 8 3 6,.211 91, 120 354 83, 531 6, 2 3 5 103, 4 4 6 337 95, 174 6, 9 3 5 116, 5 7 6 1, 3 9 9 107, 367 7, 8 1 0 125, 110 1, 4 2 1 115, 5 1 5 8, 174 132, 8 8 8 1, 3 3 3 122, 909 8, 646 5 2784, 734 3 1 8 6 ,,188 3 5 9 5 ,.038 4030, 994 4453, 630 4914, 962 5 5 0 3 , 701 6235, 2 5 8 2 4 ,,695 1,,766 762 35 ,280 9 ,482 470 2 7 ,,518 2,,121 2,, 1 8 2 4 8 ,, 0 8 2 14,,434 5,,109 3 0 ,.531 2,,850 4,.491 6 1 ,,604 18,,717 6,,769 32, 7 2 2 3, 2 3 1 12, 122 84, 038 33, 8 3 3 18, 8 4 6 40, 737 5, 6 9 9 11,,367 1 0 2 ,,771 4 4 ,,305 23, 759 4 2 ,,465 7,,313 9,,890 97,,525 5 3 ,,576 2 1 ,,911 4 4 ,,343 6,,940 15,,093 97,,320 71,,608 2 1 ,,213 394, 616 3 4 7 3 ,,499 2 4 7 ,,345 2 2 2 ,,604 2 6 4 ,892 4 4 4 ,887 4 7 8 ,,306 3 7 2 6 ,,741 3 2 2 ,, 2 1 7 2 8 3 ,659 2 8 6 ,614 4 8 0 ,863 6 1 1 ,,974 4 1 1 8 ,674 3 8 7 ,870 3 5 3 ,251 3 0 0 ,553 5 2 2 ,600 615 4707 469 395 326 597 ,638 ,804 ,487 ,708 ,241 ,012 1092 342 510 148 148 51 1084 359 531 165 153 58 1181 403 562 170 170 65 ,437 ,932 ,652 ,153 ,554 ,672 1328 483 621 213 204 69 ,494 ,156 ,035 ,192 ,047 ,432 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 18 19 20 21 ,289 ,057 ,000 ,953 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 24 25 26 27 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 21, 4 0 4 2,• 5 1 7 244 2 4 ,>521 8 ,,242 14 2 4 6 ,,107 2 2 4 1 ,,708 168 ,526 101 ,287 182 ,427 316 ,113 280 2544 161 122 208 353 ,918 ,561 ,074 ,008 ,659 ,359 324 2855 164 146 229 379 ,991 ,284 ,892 ,076 ,035 ,567 4 0 4 ,,614 3 1 4 2 ,,948 2 0 2 ,213 178 ,908 2 5 2 ,498 4 2 0 ,529 ,240 ,794 ,725 ,429 ,513 ,654 880 284 359 45 104 24 ,529 ,326 ,448 ,663 ,557 ,938 978 323 409 71 119 32 ,889 ,580 ,711 ,715 ,354 ,465 1042 326 457 93 130 39 773 240 300 42 90 25 38 40 10 ISO ,419 ,792 ,176 ,590 38 46 11 191 ,170 ,693 ,656 ,735 37 48 13 215 ,612 ,280 ,591 ,834 45 47 15 249 ,239 ,004 ,347 ,343 ,077 ,790 ,661 ,263 ,575 ,971 49 43 18 289 ,163 ,607 ,921 ,408 ,588 ,084 ,232 ,851 ,117 ,523 52 46 20 363 ,958 ,029 ,483 ,114 ,985 ,819 ,006 ,021 ,242 ,008 62 ,838 4 2 ,442 ,239 4 1 2 ,854 66 46 25 517 Total financial 5 assets Checkable dep. 8 currency Small time 8 savings dep. M o n e y m a r k e t 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 Total 23 28 assets 28 2 8 6 0 ,628 3 2 6 8 ,684 3686 ,158 4 1 3 4 ,440 4 5 7 0 ,206 5 0 4 0 ,072 5 6 3 6 ,589 6385 ,985 29 2674, 966 3055, 591 3439, 208 3848, 488 4277, 856 4734, 299 5308, 257 5 9 9 9 ,,066 30 31 32 33 34 283, 729 940, 5 8 7 3, 8 8 7 172, 5 7 9 56, 654 3 1 0 , 131 1005, 4 6 5 10, 8 0 8 227, 5 7 7 8 0 ,.005 3 3 7 ,,717 1 0 6 5 ,,076 45, 2 1 4 256, 8 5 2 96,,525 3 5 0 ,,249 1 1 4 7 ,,774 76,,362 3 1 6 ,,823 119,,937 367, 2 6 9 1 1 9 5 ,.586 186, 158 3 7 8 ,,116 149, 0 3 3 3 9 4 ,.790 1334, 2 8 7 219, 8 3 7 3 9 5 ,,450 1 8 1 ,,211 4 2 2 ,.174 1 5 5 0 ,.855 179,.393 3 8 2 ,,439 194,,133 4 5 9 ,,266 1701, 5 7 8 2 3 3 ,,554 4 6 9 ,,790 2 3 4 ,,539 Checkable deposits Small time 8 savings dep. M o n e y market fund shares Large time deposits Fed. funds 8 security RPs 30 31 32 33 34 35 36 37 176, 3 8 6 507, 452 - 1 9 ,.198 187,.257 6 0 1 ,.737 - 8 ,,284 1 9 7 ,- 6 7 5 6 9 9 ,,396 9,,425 207, 364 8 3 9 ,,642 - 2 2 ,,544 2 1 6 ,,308 9 1 0 ,,736 - 6 8 ,,927 223, 2 7 9 1 0 8 1 ,,287 - 1 0 2 ,,550 2 3 1 ,,100 1 2 8 0 ,,082 - 1 0 0 ,,387 2 3 6 ,,066 1 4 0 2 ,, 0 3 2 - 9 1 ,, 6 2 5 Life insurance reserves P e n s i o n fund reserves I n t e r b a n k c l a i m s , net 35 36 37 38 39 40 41 42 43 44 4 5 ,,490 188, 2 1 7 65,,837 2,,428 2 4 ,,645 75,,134 2 0 ,173 4 6 ,,049 2 2 3 ,,825 73,,686 1,,960 2 6 ,,432 8 9 ,, 0 7 7 32,, 6 7 0 5 1 ,, 7 8 8 2 6 5 ,, 7 7 6 79,, 1 4 8 1,, 9 5 0 2 6 ,926 115 ,914 41 ,838 61,,808 2 8 6 ,,416 8 0 ,,765 1,, 9 1 0 2 5 ,939 1 2 8 ,839 4 8 ,963 5 9 ,,841 3 4 1 ,,774 8 6 ,,005 1,,930 2 7 ,,126 161,,519 6 5 ,194 76,,851 3 7 0 ,,437 99,,715 2,,043 2 8 ,,503 174,,175 66,,001 112,,121 4 0 3 ,,181 118,,601 2,,068 2 8 ,,096 195,,463 5 8 ,,953 136,,679 4 7 9 ,046 1 5 2 ,950 2 ,479 2 9 ,506 2 1 9 ,490 7 4 ,621 M u t u a l 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 2 5 ,297 2 5 ,644 2 6 ,712 33 ,405 36 ,496 39 ,534 3 ,884 2 9 0 ,002 4 ,839 340 ,538 4 ,986 3 8 2 ,066 3 ,662 4 2 7 ,590 1 ,951 5 0 3 ,515 2 ,071 5 1 7 ,815 43 1 1 606 50 1 1 684 S e c u r i t y debt Trade debt Taxes payable Miscellaneous 45 46 47 48 49 50 51 185 ,662 1 3 0 ,231 5 5 ,431 2 1 3 ,093 148 ,265 64 ,828 246 ,950 173 ,967 72 ,983 285 ,952 2 0 6 ,756 79 , 1 9 6 2 9 2 ,350 2 1 5 ,529 7 6 ,821 305 ,773 2 2 6 ,464 79 ,309 328 ,332 2 4 3 ,561 8 4 ,771 386 ,919 305 ,006 81 ,913 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 62,349 Data are in millions of dollars. ,654 ,023 ,714 ,775 ,526 ,545 ,406 ,664 et w o r t h Approximate Approximate liabilities share share stock other M a r k e t v a l u e of e q u i t i e s Total real estate cos. cos. 49 50 51 52 53 S e p t e m b e r 1991 Private Financial Institutions 42 Year-End Private Sector Balance Sheet with Tangible Current 1 Tangible assets Residential structures 2 3 Nonres. plant 8 equipment 4 Land financial Financial 1986 1987 assets 6 7 8 9 10 11 Checkable dep. 8 currency Small time 8 savings dep. M o n e y 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 , 0 0 9 195 ,943 1 ,991 181 , 4 1 8 12 ,534 7145 ,910 8 1 6 0 ,492 221 2 204 14 ,702 ,464 ,737 ,501 8 8 0 1 ,238 1988 Financial 257 2 237 16 ,009 ,834 ,965 ,210 9 5 8 7 ,114 Institutions Cost Year-End Private Total at Outstandings 1985 5 Assets 1989 Outstandings 1990 Institutions 295 2 274 18 ,612 ,919 ,237 ,456 10524 ,590 324 3 301 20 ,961 ,583 ,243 ,135 1 2 3 4 10883 ,512 5 57 9 18 104 80 19 ,408 ,565 ,160 ,102 ,148 ,027 69 12 23 114 87 22 ,616 ,851 ,258 ,970 ,086 ,168 65 12 18 127 93 21 ,498 ,931 ,307 ,463 ,634 ,612 72 11 19 137 99 29 ,116 ,606 ,916 ,191 ,287 ,695 72 9 24 132 119 26 ,018 ,776 ,828 ,252 ,009 ,378 85 9 33 113 108 27 ,406 ,874 ,341 ,078 ,569 ,070 6 7 8 9 10 11 800 5289 539 448 423 684 ,341 ,377 ,547 ,704 ,941 ,704 974 6017 650 610 466 803 ,642 ,998 ,771 ,619 ,498 ,446 1039 6564 675 750 453 926 ,507 ,533 ,383 ,944 ,987 ,587 1176 7128 660 826 449 1083 ,092 ,600 ,589 ,913 ,910 ,093 1492 7662 746 878 451 1183 ,299 ,718 ,991 ,173 ,901 ,820 1417 8127 863 995 472 1250 ,366 ,665 ,564 ,070 ,951 ,087 12 13 14 15 16 17 1600 621 728 230 251 54 ,072 ,191 ,984 ,540 ,475 ,402 1781 651 729 249 284 59 ,945 ,587 ,495 ,887 ,890 ,828 1970 700 768 286 325 57 ,302 ,133 ,858 ,175 ,128 ,499 2089 748 820 337 350 55 ,624 ,386 ,319 ,670 ,473 ,361 2191 764 812 351 379 45 ,311 ,930 ,590 ,660 ,975 ,527 18 19 20 21 22 23 77 66 42 725 ,410 ,908 ,499 ,794 80 64 45 795 ,723 ,230 ,277 ,082 75 71 48 766 ,003 ,248 ,687 ,205 24 25 26 27 18 19 20 21 22 23 Mortgages Consumer credit Bank loans n.e.c. Open-market paper Other loans C u s t . l i a b . on a c c e p t a n c e s 1462 563 662 215 229 59 ,176 ,657 ,357 ,105 ,214 ,972 24 25 26 27 Security credit Vault cash 8 comm. bank res. Trade credit Miscellaneous finan. assets 96 54 27 590 ,137 ,168 ,190 ,287 97 ,060 73 ,759 32 ,062 6 3 5 ,, 0 2 2 76 ,174 66,, 6 4 2 35,,651 6 7 9 ,,286 28 Total assets 7313 • 389 8 3 5 6 ,435 9 0 2 2 ,,940 9 8 4 4 ,123 1 0 8 2 0 ,202 1 1 2 0 8 ,473 28 29 Total liabilities 6 8 8 7 ,952 7 8 8 2 ,,579 8 5 2 5 ,,529 9 3 2 2 ,537 1 0 2 5 4 ,,980 1 0 5 5 2 ,280 29 30 31 32 33 34 Checkable deposits Small time 8 savings dep. M o n e y m a r k e t fund s h a r e s Large time deposits Fed. funds 8 security RPs 5 2 6 ,170 1 8 4 2 ,740 2 4 3 ,802 4 8 7 ,687 2 6 3 ,,544 6 4 0 ,, 7 9 2 1 9 6 2 ,,614 2 9 2 ,,109 4 9 2 ,,700 3 1 2 ,,207 6 2 8 ,,185 2031, 713 316, 095 543, 2 9 0 3 0 7 ,,734 6 5 3 ,314 2 1 6 9 ,,206 3 3 7 ,,953 5 9 6 ,,890 3 3 4 ,,923 6 4 9 ,,545 2 2 6 7 ,,691 4 2 8 ,,093 6 1 3 ,,151 4 1 4 ,,949 6 6 8 ,548 2 3 2 4 ,,461 4 9 8 ,,374 5 4 9 ,,466 3 9 4 ,,259 30 31 32 33 34 35 36 37 Life insurance reserves P e n s i o n fund r e s e r v e s I n t e r b a n k c l a i m s , net 2 4 6 ,,507 1 6 5 3 ,,061 - 7 2 ,,896 263, 728 1 8 6 2 ,.225 -67, 552 289, 464 2 0 1 3 ,> 4 4 4 - 2 6 ,,035 3 1 4 ,,402 2 2 7 4 ,,386 -21, 460 340, 296 2 6 1 9 ,, 1 2 0 -34, 013 3 7 3 ,,256 2 6 6 1 ,,251 -9, 988 35 36 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 2 4 0 ,,230 5 8 0 ,,460 2 0 4 ,,495 2,,668 3 2 ,,066 252, 396 88, 835 413, 719, 287, 2, 36, 284, 108, 473 454 352 747 078 632 645 460, 144 858, 236 366, 2 9 7 3, 1 2 6 32, 8 4 6 322, 909 133, 058 4 7 8 ,,262 9 8 6 ,,059 4 1 7 ,,950 3,,383 34, 2 0 5 377, 740 152, 781 555, 117 1073, 013 482, 714 3, 4 2 8 35, 986 409, 088 141, 797 579, 873 1109, 294 533, 608 4, 2 1 1 36, 695 417, 681 117, 099 38 39 40 41 42 43 44 45 46 47 48 Security debt Trade debt Taxes payable Miscellaneous 74, 4 0 9 2, 336 1, 8 7 7 798, 025 76, 0 9 6 3, 3 9 6 1, 9 2 7 909, 410 64, 926 3, 2 4 7 1, 6 7 0 1033, 416 64, 8 3 7 7, 5 1 7 2, 350 1123, 8 9 8 79, 615 13, 783 3, 149 1231, 471 84, 535 15, 2 8 9 3, 5 9 0 1300, 072 45 46 47 48 425, 437 334, 8 2 4 90, 613 473, 856 371, 218 102, 638 497, 411 398, 370 99, 041 521, 586 396, 558 125, 028 565, 222 425, 607 139, 615 6 5 6 , 193 522, 775 133, 418 49 50 51 521, 769 70, 129 564, 471 79, 523 4 6 6 , 181 91, 778 5 0 2 , 176 102, 475 516, 547 117, 097 398, 345 128, 218 52 53 liabilities 49 50 51 Net worth Approximate Approximate 52 53 M a r k e t v a l u e of e q u i t i e s Total real estate Data are in share share millions of stock other cos. cos. dollars. S e p t e m b e r 1991 National Net Worth National Factors Annual Accounting for Change in Consolidated National Net Net Worth Annual Flows 43 Assets Flows 1945 Domestic 47,266 23,310 23,956 55,472 28,573 26,899 69,999 33,038 36,961 4,918 9,853 3,018 36,752 28,874 61,521 36,113 25,408 85,849 39,458 46,391 90,342 45,663 44,679 45,335 • Net foreign 33,396 = Net by investment flows domestic sectors Adjustments 56,690 11,772 52,665 13,260 20,572 8,686 961 4,200 43,404 21,755 - Adjustment to Adjustments -658 363 -446 -1,105 94,144 105,578 31,421 95,172 for + Revaluations 6,060 tangible 8 , 5 9 1 • C h a n g e in 32,935 18,005 -3 9 10 flows: 322 656 39,979 investment 8 2 , 7 8 2 P u r c h a s e s of p h y s i c a l a s s e t s 49,708 - Capital consumption 33,074 = Net capital formation to investment tangible 94 , 144 105,, 5 7 8 70 ,037 31,,421 110,,850 95 ,172 49,379 foreign = Change 4 9 ,,379 in Total, 3 3 ,928 4 4 ,, 9 3 8 3 2 ,545 - 2 ,,948 3,,628 10,, 2 8 2 1,,431 103,,958 160,,558 103,,170 2 0 ,,037 11,,655 2 3 ,,125 2,,571 2 4 ,141 846 2 3 ,, 2 9 5 11 ,091 4 ,489 6 ,602 750 513 237 31,,309 3,,829 2 7 ,,480 21,,558 1,,285 20,,273 2,- 9 0 5 •529 31 4 3 4 - 8 ,176 890 - 9 ,066 - 2 ,, 2 5 3 903 - 3 ,, 1 5 6 - 1 ,216 880 - 2 ,096 7,,754 368 7,,386 2 3 ,,944 438 2 3 ,,506 2 2 ,493 1 ,529 2 0 ,964 13..686 922 12,,764 26 27 28 153 300 -147 348 414 — 66 288 361 -73 2,,506 878 1 ,628 1,, 3 4 7 989 358 845 725 120 1,,609 1,,378 231 29 30 31 32 33 1 ,934 234 1 ,683 15 2 14 , 2 9 0 55 14 , 2 1 0 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 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 - 1 ,764 - 1 ,291 2 ,451 92,, 3 7 7 114 ,613 60,, 5 8 0 8,, 1 7 0 16,, 0 9 5 2 8 ,, 6 5 0 1,, 1 1 8 20 21 22 2 8 ,,908 2,,069 2 6 ,839 23 24 25 60 70 39 1 9 19 1 natl. net 7 8 4 ,189 8 9 5 ,039 9 9 0 ,211 44 2 1 2 ,387 2 3 5 ,236 261 ,615 2 6 0 ,363 2 8 8 ,255 333 ,406 Data are in millions of dollars. national CI) 12 13 14 15 16 17 18 19 Change/fin.Inst.corp.shares Net purchases Revaluation 26 27 28 • C h a n g e in n e t a s s e t s of p u b l i c sectors - 1 0 ,,346 State 8 local governments - 5 ,,503 U.S. government ,874 -4, Sponsored credit agencies 26 Monetary authority 5 29 30 31 32 33 (1) Lines (2) Lines 752 ,768 11 C h a n g e in e q . i n n o n c o r p . b u s . 2 0 P r o p r i e t o r s ' net i n v e s t . 21 R e v a l u a t i o n of e q u i t y 22 C h a n g e in H H c o r p . Net purchases Revaluation C h a n g e in f o r e i g n e q u i t i e s h e l d by U . S . r e s i d e n t s Net purchases Revaluation 34 35 36 C h a n g e in U . S . e q u i t i e s held by f o r e i g n e r s Net purchases Revaluation 37 38 39 Other 6 8 2 ,731 sectors assets 9 10 23 24 25 - 5 7 7 ,153 8 equities • 43 all 6 7 investment: 60,,515 P r i v a t e s e c t o r s , c o n s o l . ( 2 ) Sector basis, total 78,,715 Households 5 7 ,,655 Farm business -491 Nonfarm noncorp. business 3, 4 9 5 Nonfinanclal corporations 15..901 Private finan. institutions 2,, 1 5 5 ,810 ,973 ,570 ,854 ,262 ,161 ,126 90,,216 111 ,101 5 8 ,896 15,,735 13,,456 2 1 ,,684 1,,330 5 of c a p i t a l c o n s u m p t i o n Balance Sheet basis net 4 assets: + R e v a l u a t i o n of U . S . net f o r e i g n 1,332 assets + R e v a l . of S D R h o l d i n g s 95 ,107 1 4 0 ,003 92 ,527 12 ,199 9 ,595 24,,122 1,,560 13 14 15 16 17 18 19 US of r e p r o d u c i b l e assets land values C h a n g e in c o n s o l i d a t e d net w o r t h : 12 by 1 2 3 adjustments: + Nonfinanclal discrepancy • Unallocated financial flows • Unallocated revaluations 1 3 + 2 9 + 3 4 - 3 7 + 1 4 •- 2 0 - 2 3 - 2 6 . Memo: N a t i o n a l net worth at y e a r - e n d 1039 ,590 351 ,624 Gross National 40 +41 40 41 42 + 42. outstanding 43 Product 44 S e p t e m b e r 1991 National Net North National 44 Annual Factors Accounting for Change in Consolidated National Net Flows Domestic investment 4 * Net foreign 5 = Net by investment flows domestic sectors investment for North Annual Flows ^ flows: 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net capital formation Adjustments Net Assets tangible by 87,600 53,341 34,259 US 86,166 108,591 60,650 47,941 110,864 67,517 43,347 122,980 79,780 43,200 121,645 82,586 39,059 1 2 3 -1,728 -1,878 1,805 4 32,531 41,322 40,864 5 4,400 20,321 -2,977 21,622 6 7 -525 - 9 10 57,591 28,575 110,741 72,918 37,823 100,673 76,260 24,413 assets: • 6 7 R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets + C h a n g e in l a n d v a l u e s 2,052 7,687 Adjustments to net foreign 9 10 + R e v a l u a t i o n of U . S . net assets + R e v a l . of S D R h o l d i n g s 11 = Change in natl. net 35,166 28,293 8,614 21,704 8,775 23,281 12 T o t a l , all sectors investment: foreign assets C h a n g e in c o n s o l i d a t e d net w o r t h : (1) 20 21 C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net i n v e s t . R e v a l u a t i o n of e q u i t y 23 24 25 C h a n g e in H H c o r p . Net p u r c h a s e s Revaluation 26 27 28 • 37 38 39 4,883 707 -1,514 44,043 45,196 110,366 73,420 55,312 5 5 ,312 4 4 ,043 4 5 ,196 54 135 109 2 3 14 4 ,427 ,210 ,913 ,021 ,531 ,833 ,912 8 6 ,898 84 151 109 3 7 27 3 110 ,366 73 ,420 ,576 ,433 ,174 ,184 ,941 ,174 ,960 1 1 0 ,606 147 ,614 91 ,859 7 ,093 10,,929 3 5 ,036 2 ,697 76 51 12 6 6 24 ,013 ,480 ,157 ,768 ,895 ,741 919 73 201 164 9 6 15 5 ,376 ,005 ,383 ,240 ,640 ,350 ,392 66 ,530 5 8 ,984 12 ,704 ,876 ,718 ,654 ,507 ,434 ,563 61 ,540 6 2 ,812 4 5 ,181 941 4 ,802 8 ,371 3,,517 13 14 15 16 17 18 19 72 112 80 3 4 20 3 2,,100 -343 2,,443 5 ,354 - 2 ,,225 7,,579 10 , 8 9 6 - 2 ,418 13 , 3 1 4 17,,620 - 1 ,,641 19,,261 13 , 2 5 6 - 1 ,, 1 2 7 14,, 3 8 3 15 , 3 9 6 75 15 ,321 7 ,796 - 3 ,477 11 ,273 5 ,409 2 0 - 2 ,838 21 8,,247 2 2 equities - 8 ,,230 634 - 8 ,,864 70,,642 193 70,,449 4 9 ,545 333 4 9 ,212 17,,586 965 16,,621 - 3 7 ,,373 388 - 3 7 ,,761 101 ,402 156 101,, 2 4 6 2 6 ,103 - 1 ,132 2 7 ,235 - 7 ,,742 2 3 - 1 ,,404 2 4 - 6 ,,338 2 5 Change/fin.inst.corp.shares Net p u r c h a s e s 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,, 4 0 0 8,,431 6 ,273 3 ,321 2,,952 3,,605 2 6 3,,430 2 7 175 2 8 -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 16 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 -1,589 -3,314 1,698 21 6 29 30 31 32 33 -130 -51 -79 539 256 283 571 173 398 186 111 75 -392 35 -427 862 332 530 594 195 399 295 663 -368 34 35 36 -55 -55 - 1,604 483 1,121 1,321 127 1,194 386 256 130 -870 147 -1,017 2,214 -54 2,268 1,058 351 707 -61 203 -264 37 38 39 -2,410 1,529 2,541 -2,658 1,280 2,506 -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 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 C h a n g e in f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s Net p u r c h a s e s Revaluation C h a n g e in U . S . e q u i t i e s held by f o r e i g n e r s Net p u r c h a s e s Revaluation Other adjustments: + Nonfinancial discrepancy + Unallocated financial flows + Unallocated revaluations (1) L i n e s (2) Lines 1 3 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 14 - 2 0 - 2 3 - 2 6 . 43 Memo: N a t i o n a l net at y e a r - e n d 44 Gross Data -894 5 2 ,,364 4 7 ,,309 2 8 ,032 - 1 ,754 3,,910 15,,191 1,,930 + C h a n g e in n e t a s s e t s o f p u b l i c sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 34 35 36 1,773 national 13 P r i v a t e s e c t o r s , c o n s o l . ( 2 ) 14 Sector basis, total 15 Households 16 Farm business 17 Nonfarm noncorp. business 18 Nonfinancial corporations 19 Private finan. institutions 40 41 42 20,998 17,210 A d j u s t m e n t of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t b a s i s 8 29 30 31 32 33 2,637 15,135 are worth National in 42. outstanding Product millions 2,807 40 - 1 , 6 0 0 41 -2,530 42 of dollars. S e p t e m b e r 1991 N a t i o n a l Net W o r t h National Net Factors Accounting for Change in C o n s o l i d a t e d National Net Worth 45 Assets Annual Annual Flows Flows 1961 Domestic 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 78,982 197,135 107,489 89,646 196,314 116,768 79,546 4,053 5,917 4,971 3,661 2,375 57,678 66,724 83,953 93,307 96 14,649 -5,974 16,423 12,863 21,537 81,921 11.915 23,328 45,466 40,327 36,010 17,168 _2 -2 -2 1,051 + Net foreign 91,058 = Net by investment flows domestic sectors for + Revaluations 9F,372 tangible 2 4 , 3 0 7 • C h a n g e in - to net 828 -259 by US -11,777 - -941 — assets: of r e p r o d u c i b l e assets land v a l u e s 123,324 209,800 of 6 7 = Change in net all foreign 9 10 holdings net natl. C h a n g e in c o n s o l i d a t e d net w o r t h : al, sectors assets (1) 12 5 3 , 179 64 ,4 7 9 64, 754 100, 8 1 9 117, 7 2 4 1 7 9 , 671 123, 3 2 4 209, 800 19 62, 8 5 8 187; 2 4 8 157 , 1 0 2 .930 4 , s--291 ,977 12 , 6 ,948 72, 4 8 2 18, 7 4 6 -9: 584 5 ,112 6-• 8 7 3 13, 5 4 5 2,,800 6 7? 5 9 3 163, 8 3 6 134 , 721 5 !7 7 2 5,.746 ,003 14 ! 31,594 106, 9 2 7 181 ,8 6 2 137,• 4 1 2 6 i • 099 9i .517 2 2 ,907 5 ,927 119, 7 3 4 221, 428 164, 4 7 3 13, 2 5 4 9,,258 29;,561 4 ,882 182, 102 145, 5 0 0 76, 7 5 7 7, 616 20, 2 8 4 39, 6 3 9 1,,204 153- 4 3 5 333, 223 2 7 2 , 061 10,• 0 5 0 7, 194 37, 0 8 4 6;,834 2 1199,, 4 2 4 P r i v a t e s e c t o r s , c o n s o l . ( 2 ) Sector basis, total 402, 409 Households 317,.870 Farm business 10; 9 1 6 Nonfarm noncorp. business 19;,482 Nonfinancial corporations 4 6 111 Private finan. institutions 8 ,030 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 - 6 1 ,745 - 2 ,714 - 5 9 ,031 72 ,511 - 2 ,995 75 ,506 4 6 ,996 - 2 ,080 4 9 ,076 64 ,803 - 4 ,772 69 ,575 - 5 9 ,573 - 3 ,490 - 5 6 ,083 135 ,399 - 5 , 664 141 ,063 130 ,619 - 1 0 ,729 141 ,348 12 ,733 3 ,873 8 ,860 12 ,817 4 ,367 8 ,450 15 ,211 5 ,930 9 ,281 - 4 ,395 5 ,850 - 1 0 ,245 2 7 ,847 8 ,751 19 ,096 2 2 ,789 10 ,668 12 ,121 -4,173 -2,565 -6,733 -1 , 668 -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 7 914 1 ,308 -394 1,214 1,569 -355 9 , 747 51 9 ,696 22 25 27 28 99 .497 - 1 ,061 100 ,558 15 , 146 4 ,055 11 ,091 - 3 ,490 4 , 183 - 7 ,673 16;,542 - 1 ,080 17 ,622 29 5 7 7 - 2 ,967 3 2 ,544 - Change/fin.inst.corp.shares Net purchases Revaluation 26 27 28 + C h a n g e in net a s s e t s of p u b l i c -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 32 33 34 35 36 918 762 156 -188 969 -1 ,157 431 1,105 -674 125 678 -553 759 -981 -724 720 -1 ,444 37 38 39 ,506 323 ,183 -1 ,472 109 -1,581 2,149 225 1,924 1,350 -292 1,642 764 -400 1 ,164 -1,956 -305 -1,651 12,868 698 12,170 4,006 2,097 1,909 40 41 42 1 ,209 159 -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 1,121 5,526 -62 59 1 • C h a n g e in e q . i n n o n c o r p . b u s . 2 0 P r o p r i e t o r s ' net i n v e s t . 21 R e v a l u a t i o n of e q u i t y 22 23 24 25 -2,756 -4,935 52 -2,860 - C h a n g e in H H c o r p . Net p u r c h a s e s Revaluation + C h a n g e in f o r e i g n e q u i t i e s h e l d by U . S . r e s i d e n t s Net p u r c h a s e s Revaluation - C h a n g e in U . S . e q u i t i e s h e l d by f o r e i g n e r s Net p u r c h a s e s Revaluation Other CI) Lines (2) Lines 43 44 Data 1633,518 533,815 are 1697,997 574,643 in m i l l i o n s of 1762,751 606,898 dollars. 1863,570 649,774 1981,294 2160,965 2284,289 705,099 771,982 816,382 13 14 15 16 17 18 19 equities -9,452 -3,793 -5,706 42 5 29 30 11 national 12 20 8 investment: U.S. assets + R e v a l . of S D R 4 5 tangible foreign + Revaluation -1,733 259 investment 1 2 5 A d j u s t m e n t of c a p i t a l c o n s u m p t i o n -4 to B a l a n c e S h e e t b a s i s Adjustments 9 10 flows: 2 1 8 , 0 0 6 P u r c h a s e s of p h y s i c a l a s s e t s 127,999 - Capital consumption 9 0 , 0 0 7 = Net c a p i t a l formation Adjustments -1.549 19,383 investment 37 38 39 adjustments: + Nonfinancial discrepancy + Unallocated financial flows + Unallocated revaluations 1 3 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 14 - 2 0 - 2 3 - 2 6 . N a t i o n a l net w o r t h 2494,089 at y e a r - e n d 892,652 Gross 34 35 36 National 40 41 42 42 outstanding 43 Product 44 S e p t e m b e r 1991 N a t i o n a l Net W o r t h National Factors Annual Accounting for Change in Consolidated National Net Flows Domestic investment 4 + Net foreign 5 = Net by investment flows domestic sectors investment for Worth Annual Flows flows: 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net capital formation Adjustments Net Assets tangible by 239,444 141,450 97,994 234,465 154,577 79,888 270,070 169,383 100,687 313,207 184,349 128,858 363,507 201,554 161,953 364,616 231,333 133,283 354,920 268,788 86,132 439,142 297,791 141,351 1 2 3 -1,121 2,978 -10,498 -6,964 4,485 -7,498 24,031 14,752 4 96,873 82,866 90,189 121,894 166,438 125,785 110,163 156,103 5 91,792 24,284 77,387 18,865 111,737 38,601 116,625 71,002 220,722 128,885 428,321 111,270 220,592 94,900 257,879 176,655 6 7 -3 -1 -1 -3 8 US assets: • 8 A d j u s t m e n t of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t b a s i s Adjustments to net foreign 9 10 • R e v a l u a t i o n of U . S . net assets + R e v a l . of S D R h o l d i n g s 11 = Change in natl. net 12 T o t a l , all sectors -2 - foreign assets C h a n g e in c o n s o l i d a t e d net w o r t h : -1 investment: 4,799 -2,232 -6,393 94 -2,598 889 5,721 1,382 18,192 36 -6,519 -158 217,749 176,886 234,230 307,812 523,151 683,605 418,979 587,689 11 -2,932 9 - 1 9 10 217, 749 176,>886 2 3 4 ,,230 307, 5 2 3 ,,151 6 8 3 ,.605 4 1 8 ,,979 5 8 7 ,,689 12 2 1 2 ,.073 1 2 3 ,.903 37,,089 8 ,.339 16, 4 5 5 60,,135 1,,885 196 208 131 6 13 54 3 ,894 ,648 ,074 ,115 ,553 ,090 ,816 2 6 7 ,,426 4 5 1 ,,503 326,,208 18, 7 0 0 25,,645 6 9 ,803 11 , 1 4 7 3 3 0 ,,798 5 2 1 ,,350 3 6 5 ,, 4 3 7 34,,946 ,304 31 , 74,,700 14,,963 5 2 0 ,042 4 2 5 ,,039 165,,404 77,,640 61,,794 107,• 5 2 3 12,,678 715, 705 5 5 6 ,.601 178,,722 39,,449 5 4 ,,035 2 8 4 ,,856 -461 5 0 6 ,757 786,,256 5 4 7 ,287 5 0 ,,152 36,,430 146, 8 7 5 5,,512 6 5 0 ,804 928,,227 620,,062 ,304 71 , 63,,553 151 ,,135 22,,173 13 14 15 16 17 18 19 2 4 ,,073 - 6 ,055 30,,128 19 , 1 8 2 - 4 ,408 2 3 ,590 4 3 ,311 - 2 ,,200 4 5 ,511 64,,404 - 8 ,, 6 6 2 73,,066 136,,165 11,, 2 2 5 124,, 9 4 0 91 ,,316 - 3 0 ,,260 121,,576 8 2 ,,817 - 1 9 ,307 102,,124 129,,091 2 0 - 2 5 ,,766 21 154,,857 2 2 8 4 ,,026 —8 • ,792 9 2 ,818 -198 425 - 3 ,227 - 1 9 5 ,198 - 2 0 3 ,, 6 9 7 - 1 ,,374 - 2 0 2 ,,323 1 3 8 ,747 - 5 ,785 1 4 4 ,532 114,,268 1 ,867 , 1 1 2 ,401 national (1) 13 P r i v a t e s e c t o r s , c o n s o l . ( 2 ) Sector basis, total 14 Households 15 Farm business 16 Nonfarm noncorp . business 17 Nonfinancial corporations 18 Private finan. institutions 19 00 6 7 R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets • C h a n g e in l a n d v a l u e s 20 21 22 C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net i n v e s t . R e v a l u a t i o n of e q u i t y 23 24 25 C h a n g e in H H c o r p . Net purchases Revaluation equities - 1 0 7 ,,827 - 7 ,298 - 1 0 0 ,529 - 1 6 ,459 - 2 ,765 - 1 3 ,694 9 5 ,308 - 5 ,446 1 0 0 ,754 26 27 28 Change/fin.inst.corp.shares Net p u r c h a s e s R e v a l u a t i on - 4 ,416 12 ,024 - 1 6 ,440 9 ,031 10 , 8 2 0 - 1 ,789 45 ,458 19 , 3 8 0 26 ,078 42 • 122 21 ,434 2 0 ,688 - 3 2 ,, 7 4 3 11 , 9 7 7 - 4 4 ,720 - 4 6 ,,723 5 ,642 - 5 2 ,,365 5 7 ,935 11 ,172 4 6 ,763 3 4 ,064 2 6 8 ,740 2 7 2 5 ,324 2 8 - 6 0 , 4 4 2 29 - 4 3 2 30 - 6 0 , 4 5 8 31 383 32 6 5 33 23 24 25 29 30 31 32 33 + C h a n g e in n e t a s s e t s of p u b l i c sectors State 8 local governments U.S. government 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 34 7 46 -14,283 -3,042 -12,131 808 82 —81,569 -5,327 -76,684 385 57 34 35 36 + C h a n g e in f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s Net purchases Revaluation 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 -132 355 —487 34 35 36 —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 2,753 4,883 37 38 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 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 37 38 39 C h a n g e in U . S . e q u i t i e s h e l d by f o r e i g n e r s Net p u r c h a s e s Revaluation Other 40 41 42 adjustments: + Nonfinancial discrepancy + Unallocated financial flows + Unallocated revaluations CI) Lines (2) Lines 1 3 + 2 9 + 3 4 - 3 7 + 4 0 + 4 1 + 14 - 2 0 - 2 3 - 2 6 . 43 Memo: N a t i o n a l net at y e a r - e n d 44 Gross Data are worth National in 42. outstanding Product millions -3,601 40 1 4 , 3 0 3 41 -5,607 42 of dollars. S e p t e m b e r 1991 N a t i o n a l Net Worth National Factors Accounting for Change in C o n s o l i d a t e d National Net Net North 47 Assets Annual Flows Annual Flows Domestic 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 -16,536 -2,470 25,896 31,234 27,394 30,837 179,312 268,981 243,253 196,272 232,429 132 209 791,400 622,974 168,426 -28,349 investment 140,077 -71,698 + Net foreign 276,514 = Net by investment flows domestic sectors Adjustments • ; ss:K S:S! is:55 sis s:K as; - 1 - 2 -1 -2 13 for Revaluations 27 to net n ! i noo ''-III !b n £. n Hi? idA 22 22 " :!U i nsn.s?n " :$M, i 060.905 217,869 747, 4 8 2 1088, 0 6 0 1113, 744 1090, 570 1174, 444 1804, 738 1164, 094 79, 9 5 0 178,• 3 7 3 343, 319 39,,002 1060, 905 1150, 667 1307, 208 7 4 9 , 611 - 1 5 , 020 2 3 7 ,.749 328, 470 6, 3 9 8 217, 869 378,• 148 5 5 3 ,,934 4 5 6 ,.739 - 4 7 ,.218 14,,721 116,,269 13,,423 assets: 544,664 ! 503,300 R " " ? 1 of U.S. net foreign . # = Change 503,300 Total, 544, 664 8 investment: i' in natl. C h a n g e in c o n s o l i d a t e d net w o r t h : 12 US reproducible foreign + Revaluation 5 , 2 tangible of by A d j u s t m e n t of c a p i t a l c o n s u m p t i o n 11 to B a l a n c e S h e e t b a s i s Adjustments 2 , investment 'zx& • -rs'i: - 1 flows: 1 0 0 0 , 4 0 0 P u r c h a s e s of p h y s i c a l a s s e t s 652,188 - Capital consumption 348,212 = Net capital formation all sectors net assets 11 national (1) 727,787 Private sectors, c o n s o l . (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 773, 177 1122, 778 946, 5 5 6 5,,751 62, 9 6 5 8 4 ,947 22, 5 5 9 13 14 15 H 17 13 19 1129, 980 1406, 5 9 5 835, 088 104, 5 8 8 148,918 290, 570 27,.431 1166, 673 1619, 4 5 5 1009, 676 106, 8 0 1 162, 6 7 5 306, 4 4 6 33,,857 155 ,795 - 2 0 ,226 176 ,021 246,,407 - 3 1 ,927 ! 2 7 8 ,334 2 6 2 ,,005 - 6 5 ,221 , 3 2 7 ,226 2 5 2 ,,688 - 7 6 ,857 329:,545 2 2 3 ,,969 - 4 8 .360 2 7 2 ,,329 - 2 8 ,403 - 9 1 ,383 62 ,980 68 ,846 - 7 9 ,634 148 ,480 - 2 9 , 2 9 5 - C h a n g e in e q . i n n o n c o r p . b u s . 2 0 -86,518 P r o p r i e t o r s ' net i n v e s t . 21 57,223 R e v a l u a t i o n of e q u i t y 22 23 24 25 - 4 4 ,409 - 8 ,066 - 3 6 ,343 - 4 ,597 - 1 3 ,089 8 ,492 148 ,283 - 2 4 ,465 1 7 2 ,748 3 0 0 ,294 - 1 2 ,328 3 1 2 ,622 - 6 0 ,094 - 4 3 ,429 - 1 6 ,665 122 ,006 - 2 2 ,801 144 ,807 149 ,655 - 2 6 ,985 176 ,640 - 1 , 5 5 4 - C h a n g e in H H c o r p . -81,820 Net purchases 80,266 Revaluation equities 23 24 25 26 27 28 - 7 ,864 11 ,158 - 1 9 ,022 34 ,805 12 ,732 2 2 ,073 4 2 ,494 18 ,660 2 3 ,834 77 ,312 2 2 ,994 5 4 ,318 - 7 ,334 2 8 ,052 - 3 5 ,386 8 2 ,183 2 7 ,427 5 4 ,756 131 ,100 4 8 ,336 8 2 ,764 1,516 - C h a n g e / f i n . i n s t . c o r p . s h a r e s 13,270 Net purchases -11,754 Revaluation 26 27 28 29 30 31 32 33 -42, 479 13, 7 0 3 - 5 6 , 696 447 67 -35,394 5,327 -41,711 894 96 -19, 692 6, 9 4 9 - 2 7 ,5 0 7 834 32 - 5 4 , 143 296 - 5 2 , 724 774 103 -85,656 -9,266 -77,412 -152,955 -4,755 -149,555 1 ,281 74 -185,122 3,961 -189,632 397 52 -176,465 7,309 -184,528 663 91 34 35 36 657 4 08 249 1,126 -351 1,477 3,,598 1 ,025 , 2 ,573 4, 3 3 2 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 - 6 ,075 - 5 ,874 - 6 ,988 -5,216 42-896 -40,158 75 21,430 -18,149 -5,325 -15,230 -10,054 13 14 15 16 17 18 19 793, 5 9 1 8 9 7 , 113 555, 8 6 4 49,.776 110,• 4 5 8 166,.585 14 ,430 20 21 + Change 9 1 6 1 0 6 1,896 -5,038 -2,192 -164 - 2 7 ,816 ,634 7479,7:2 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 m i l l i o n s of dollars. public 29 30 31 3«. 33 34 35 36 37 38 39 adjustments: 1 3 + 2 9 + 3 4 - 3 7 + 14 - 2 0 - 2 3 - 2 6 . National 6391,672 of -5,400 + Nonfinancial discrepancy 17,413 + Unallocated financial flows -61,489 + Unallocated revaluations CI) Lines (2) Lines 4! assets C h a n g e in U . S . e q u i t i e s h e l d by f o r e i g n e r s Net purchases Revaluation Other 8 - 3 ,170 - 4 ,295 net + C h a n g e in f o r e i g n e q u i t i e s h e l d by U . S . r e s i d e n t s Net purchases Revaluation - 40 41 42 in sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 12010,784 at net worth 40 + 4 1 + 3772,200 Gross National 42. outstanding year-end 40 41 42 . «! Product 44 S e p t e m b e r 1991 National Net Worth National Factors Annual Accounting for Change in Consolidated National Net Flows 1985 Domestic investment • 5 = Net by Net foreign investment for 1988 1989 - 1204, 550 837, 998 366, 552 1245, 826 8 9 5 , 118 350, 708 1221, 425 930, 609 290, 816 1 2 3 by US - 1 0 4 , 197 -132, 594 - 1 5 7 , 959 -136, 569 - 8 6 , 944 -31, 562 4 2 1 9 , 331 192, 063 172, 5 6 6 229, 983 263, 764 259, 254 5 tangible 114, 471 82, 522 183, 130 215, 188 424, 792 230, 186 270, 222 181, 091 4 0 8 , 091 213, 413 64, 968 - 1 1 2 , 305 6 7 4, 8 3 3 -528 -2, 732 4, 741 9, 3 6 9 20, 239 8 -12, 740 749 - 2 3 ,,253 830 5 0 ,, 1 6 2 1,,392 -11, 256 -194 -32, 873 -565 5 6 ,,622 844 9 10 3 9 9 ,500 5 6 8 ,486 8 8 1 ,, 8 3 0 6 6 5 ,,105 8 4 2 ,,461 2 4 9 ,,144 11 8 8 1 ,830 6 6 5 ,105 2 4 9 ,144 12 assets: A d j u s t m e n t of c a p i t a l c o n s u m p t i o n to B a l a n c e S h e e t b a s i s Adjustments to net foreign 9 10 • R e v a l u a t i o n of U . S . n e t assets + R e v a l . of S D R h o l d i n g s 11 = Change in natl. net all sectors investment: foreign assets C h a n g e in c o n s o l i d a t e d net w o r t h : 12 T o t a l , national 3 9 9 ,500 CI) 605 1112 1056 — 76 43 50 38 13 P r i v a t e s e c t o r s , c o n s o l . ( 2 ) Sector basis, total 14 Households 15 Farm business 16 Nonfarm noncorp. business 17 Nonfinancial corporations 18 Private finan. institutions 19 20 21 22 23 24 25 - 26 27 28 • 29 30 31 32 33 34 35 36 1096 1123 840 18 104 137 23 ,117 ,771 ,523 ,473 ,086 ,134 ,555 951 1281 1078 49 28 100 24 ,993 , 142 ,658 ,773 ,497 ,039 ,175 8 4 2 ,,461 1 0 8 9 ,,513 1 8 5 4 ,,951 1 5 7 5 ,,515 32,,150 108,,941 9 4 ,709 4 3 ,, 6 3 6 140 ,790 -85 • 474 2 2 6 ,264 441 57 -180 37 -29 138 90 ,192 ,414 ,644 ,368 ,262 ,981 ,971 13 14 15 16 17 18 19 1 ,207 - 6 8 ,943 70 ,150 20 21 22 7 7 ,799 - 7 6 ,451 154 ,250 equities 359 ,017 - 1 0 6 ,929 4 6 5 ,946 164 ,068 - 1 2 4 ,548 2 8 8 ,616 - 1 5 3 ,620 - 1 0 9 ,549 - 4 4 ,071 1 2 3 ,331 - 1 1 5 ,439 2 3 8 ,770 3 2 3 ,946 - 1 2 6 ,036 4 4 9 ,982 - 3 0 6 ,772 - 5 9 ,506 - 2 4 7 ,266 23 24 25 Change/fin.inst.corp.shares Net purchases Revaluation 1 7 3 ,939 35 ,374 138 ,565 155 ,974 35 ,173 1 2 0 ,801 64 ,684 30 ,925 33 ,759 128 ,019 - 9 ,415 1 3 7 ,434 3 0 0 ,702 14 , 3 5 7 2 8 6 ,345 - 7 8 ,213 ,301 - 1 0 0 ,514 26 27 28 ,843 ,356 ,336 ,859 -4 - 2 2 9 ,431 7 ,964 - 2 3 7 ,069 -412 86 - 1 8 4 ,431 - 7 ,776 - 1 7 7 ,018 291 72 ,353 ,591 ,153 ,245 146 - 1 9 8 ,587 - 2 1 ,135 - 1 7 8 ,426 845 129 - 2 8 3 ,462 - 2 5 ,947 - 2 5 7 ,465 -92 42 29 30 31 32 33 12 , 2 7 5 3 ,689 8 ,586 10 ,721 1 ,153 9 ,568 4 ,657 - 2 ,130 6 ,787 8 ,063 909 7 ,154 33 ,107 16 , 6 5 4 16 , 4 5 3 - 6 ,404 6 ,924 - 1 3 ,328 34 35 36 29 ,522 4 ,329 2 5 ,193 43 ,362 17 , 1 6 6 26 ,196 6 ,703 15 , 5 8 7 - 8 ,884 2 5 ,330 -479 2 5 ,809 5 7 ,601 6 ,604 5 0 ,997 — 36 ,022 - 1 4 ,542 - 2 1 ,480 37 38 39 4 ,650 19 , 7 2 7 - 1 4 ,781 1 ,775 - 1 3 ,771 - 1 3 ,085 10 , 7 0 0 - 5 7 ,602 19 , 0 9 2 2 8 ,224 - 2 4 ,882 - 5 9 ,610 16 , 9 2 9 — 4 ,637 - 3 6 ,263 1 ,550 28 ,502 31 , 7 4 4 40 41 42 1 2 4 1 0 ,284 12978 ,770 13860 ,600 1 4 5 2 5 ,705 1 5 3 6 8 ,166 1 5 6 1 7 ,310 43 4 0 1 4 ,925 4231 ,650 4 5 1 5 ,600 4 8 7 3 ,700 5 2 0 0 ,849 5 4 6 5 ,200 44 C h a n g e in H H c o r p . Net p u r c h a s e s Revaluation Change in net assets of public -198 14 -211 -1 C h a n g e in U . S . e q u i t i e s held by f o r e i g n e r s Net p u r c h a s e s Revaluation (1 ) L i n e s (2 ) L i n e s 13 + 2 9 + 3 4 - 3 7 + 4 0 14 - 2 0 - 2 5 - 2 6 . 43 Memo: N a t i o n a l net at y e a r - e n d 44 Gross are -213 -18 -196 1 adjustments: + Nonfinancial discrepancy + Unallocated financial flows • Unallocated revaluations Data ,639 ,253 ,876 ,511 ,621 ,848 ,419 116 ,590 - 9 1 ,053 2 0 7 ,643 Other 40 41 42 5 6 8 ,486 855 1228 1069 -25 74 60 48 5 2 ,572 - 4 6 ,955 99 ,527 + C h a n g e in f o r e i g n e q u i t i e s held by U . S . r e s i d e n t s Net p u r c h a s e s Revaluation - ,994 ,407 ,655 ,799 ,982 ,051 ,518 - 2 6 ,543 - 8 9 ,162 6 2 ,619 C h a n g e in e q . i n n o n c o r p . b u s . P r o p r i e t o r s ' net i n v e s t . R e v a l u a t i o n of e q u i t y State 8 local governments U.S. government Sponsored credit agencies Monetary authority 37 38 39 1990 1122, 825 792, 300 330, 525 R e v a l u a t i o n s of r e p r o d u c i b l e tangible assets + C h a n g e in land v a l u e s 8 Flows 1065, 325 740, 668 324, 657 • 6 7 Annual 1015, 325 691, 797 323, 528 investment flows domestic sectors Adjustments 1987 Worth flows: 1 P u r c h a s e s of p h y s i c a l a s s e t s 2 - Capital consumption 3 = Net capital formation 4 1986 Net Assets worth National in + 4:2. outstanding Product millions + 41 of dollars. S e p t e m b e r 1991 U.S. Net Foreign Assets U.S. Factors Annual Accounting for Change in U.S. Net Foreign Annual 9,853 9,046 -807 -2,162 3,018 2,188 -830 1,297 1,335 38 -2,249 1 ,284 3,533 656 1,313 657 322 1,553 1,231 -1,531 -164 -380 7,691 1,487 1,133 -58 59 59 -14 -29 -15 -43 -28 15 -218 -236 -18 443 467 24 139 215 76 -59 -210 -151 -31 -175 -144 206 185 -21 432 435 3 405 525 11 54 -10 — 64 12 -230 538 1,259 721 415 1,075 1,088 230 390 1,139 749 467 13 14 660 621 683 1,191 508 15 16 17 -4 -4 90 100 10 150 184 34 98 154 56 370 450 80 177 267 90 1,185 1 ,185 356 356 169 169 -16 -16 -20 -20 9 10 120 18 -248 -248 19 20 U.S. net foreign i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s sales 8 SDRs 4 fgn.investment, adj. 5 + R e v a l u a t i o n of f o r e i g n e q u i t i e s 9 held by U.S. r e s i d e n t s 69 C h a n g e in v a l u e 60 -Net purchases 6 7 8 - R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s 255 C h a n g e in v a l u e 255 -Net purchases 9 10 11 890 1,742 852 U.S.net Reval.of Change -Direct fgn.dir.inv.in in v a l u e investment (1) U.S. 12 13 14 15 16 17 + R e v a l u a t i o n of U . S . o f f i c i a l f g n . e x c h a n g e 8 n e t I M F p o s i t i o n 18 36 C h a n g e in v a l u e 19 36 - N e t i n c r e a s e in f g n . l i a b . 2 0 -433 18 424 -339 1,441 -1,345 588 8,054 2,287 687 1,043 -501 1,274 dollars. gold + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t investment (1) 155 287 132 3,637 of of 1 2 3 + U.S.net + Other revaluations = Change Net in foreign (1) Excludes in m i l l i o n s Flows = 16,004 are Assets Foreign 49 Flows 4,918 3,031 -1,887 Data Net Assets U.S.net assets capital 21 fgn.assets 22 outstanding 23 gains. S e p t e m b e r 1991 U.S. Net Foreign U.S. Assets Factors 50 Annual for Change in U.S. Net Foreign Net Foreign Annual U . S . net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s -1*728 499 2,227 1954 1955 -260 1,245 1,505 1956 1957 1958 26 -1,323 1,443 1,417 4,569 4,857 2,124 356 3,841 3,485 801 Assets Assets Flows 1953 1 2 5 Accounting 288 Flows 1959 1960 -1,878 2,753 4,631 1,805 5,695 3,890 1 2 3 4 + U.S.net sales 8 SDRs 1,161 40 -305 1,075 1,703 4 5 = U.S.net fgn.investment, adj. -567 66 -1,628 -803 3,508 5 398 571 173 186 111 -427 -392 35 399 594 195 -368 295 663 6 7 8 707 1,058 351 -264 -61 203 9 10 11 • 6 7 8 9 10 11 12 13 14 gold R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U.S. r e s i d e n t s C h a n g e in v a l u e -Net purchases R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases Reval.of Change -Direct fgn.dir.inv.in U.S. in v a l u e investment (1) + R e v a l u a t i o n of U . S . o f f i c i a l e x c h a n g e 8 net IMF p o s i t i o n C h a n g e in v a l u e - N e t i n c r e a s e in f g n . l i a b . 21 • Other 22 = Change revaluations 23 Memo: Net foreign (1) Excludes Data are in in U.S.net assets capital millions fgn.assets outstanding gains. of dollars. -79 -130 -51 283 539 256 75 530 862 332 1,604 483 1,321 127 130 386 256 -1 ,017 -870 147 2,268 -55 -55 797 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 ,038 ,940 12 13 14 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 307 405 98 251 489 238 -9 306 315 15 16 17 -95 -95 -182 -182 -141 -141 564 564 367 367 -17 -17 39 39 -442 -442 18 19 20 1,203 -509 823 3,930 -234 -303 1 1,206 -856 788 3,255 4,477 1,117 -315 1,121 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t investment (1) 15 16 17 18 19 20 of 2,214 -54 fgn. S e p t e m b e r 1991 U.S. Net Foreign U.S. Assets Factors Annual Accounting for Change in U.S. Net Foreign Net Foreign Assets 51 Assets Annual Flows Flows 1963 2,833 6,247 3,414 2,261 5,062 2,801 4,053 7,601 3,548 5,917 9,588 3,671 4,971 7,237 2,266 3,661 7,206 3,545 2,375 10,318 7,943 1,051 9,825 8,774 U . S . net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 1 2 3 4 857 890 1,665 1,170 1,173 + U.S.net sales 3,690 3,151 6,636 3,545 2,224 = U.S.net fgn.investment, adj. 5 6 7 8 of gold 8 SDRs 156 918 762 -1,157 -188 969 -674 431 1,105 -553 125 678 -981 759 -1,444 -724 720 -394 914 1,308 + R e v a l u a t i o n of f o r e i g n e q u i t i e s -355 held by U . S . r e s i d e n t s 1,214 C h a n g e in v a l u e 1,569 -Net purchases 9 2,183 2,506 323 -1,581 -1,472 109 1,924 2,149 225 1 ,642 1 ,350 -292 1,164 764 -400 - 1 ,651 -1,956 -305 12,170 12,868 698 - R e v a l u a t i o n of U . S . c o r p o r a t e 1,909 e q u i t i e s h e l d by f o r e i g n e r s 4,006 C h a n g e in v a l u e 2,097 -Net purchases 9 10 11 12 198 2,852 2,654 -292 2,559 2,851 -23 3,460 3,483 -15 3,744 3,759 -17 4,803 4,820 -3,101 1,724 4,825 -38 4,322 4,360 53 3,218 3,165 12 13 14 171 482 311 -126 101 20 -169 257 426 171 869 698 84 892 808 10 11 13 14 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t investment (1) 346 332 231 97 419 322 434 414 -643 -645 1 84 83 —46 -46 3 443 440 21 341 -655 2,000 446 3,551 995 1,344 + Other 22 3,752 1,138 5,735 4,903 5,060 -8,232 1,283 = Change 15 16 17 220 • 18 1 251 250 19 20 1,118 1,117 - Reval.of Change -Direct R e v a l u a t i o n of U . S . o f f i c i a l f g n . 10 e x c h a n g e 8 net IMF p o s i t i o n 2,053 C h a n g e in v a l u e 2,043 - N e t i n c r e a s e in f g n . l i a b . 44,680 revaluations are in millions of dollars. in Memo: Net foreign (1) E x c l u d e s Data fgn.dir.inv.in U.S. in v a l u e investment (1) U.S.net assets capital fgn.assets outstanding gains. 23 S e p t e m b e r 1991 U.S. Net Foreign Assets U.S. Net F o r e i g n Factors Accounting 52 Annual + U.S.net sales 5 = U.S.net fgn.investment, of gold -1,121 9,294 10*415 8 SDRs adj. 2,978 7,830 4,852 -4,321 -2,756 1,565 12 + R e v a l . of U . S . d i r . i n v . a b r o a d 13 C h a n g e in v a l u e 14 - D i r e c t investment (1) 15 - R e v a l . o f 16 Change 17 -Direct fgn.dir.inv.in U.S. in v a l u e investment (1) 18 19 20 + R e v a l u a t i o n of U . S . o f f i c i a l e x c h a n g e 8 net IMF p o s i t i o n C h a n g e in v a l u e - N e t i n c r e a s e in f g n . l i a b . 21 + Other 22 = Change revaluations Data in foreign are U.S.net assets capital in m i l l i o n s fgn.assets outstanding gains. of dollars. -10,498 11,539 22,037 -6,964 11,340 18,304 4,485 16,952 12,467 -7,498 18,153 25,651 -172 R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s h e l d by f o r e i g n e r s C h a n g e in v a l u e -Net purchases (1) E x c l u d e s Assets Assets -7,670 -1,456 -380 1,076 23 Net Foreign -967 -1,048 *>01 1,549 - U.S. Net -2,088 R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U . S . r e s i d e n t s C h a n g e in v a l u e -Net purchases 9 10 11 in Annual Flows 4 6 7 8 Change Flows 1 U.S. net f o r e i g n i n v e s t m e n t 2 N e t U . S . a c q . of f g n . a s s e t s $ - N e t f g n . a c q . of U . S . a s s e t s • for 24,031 4,790 14,752 40,196 25,444 28,821 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 -249 448 697 2,766 3,602 836 5,814 8,248 2,434 -8,306 -5,543 2,763 -9,834 -9,295 539 6,425 11,092 4,667 4,883 7,636 2,753 9 10 11 226 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 12,443 11,633 12 13 14 -260 1,003 1,263 -12 1,452 1,464 276 644 368 6 2,888 954 948 2,800 -173 4,588 4,761 -85 2,518 2,603 -1,238 3,108 4,346 15 16 17 75 287 212 4 2,541 2,545 33 - 1 ,699 -1,732 -7 -159 -152 3 -146 -149 2 1,297 1,295 -348 435 783 -45 1 ,068 5,688 fgn. 965 -3,001 1,581 1,401 8,966 -1,054 2,711 -16,274 -9,718 10,215 10,522 17,446 - 1 8 18 2 , 4 6 2 19 2,480 20 S e p t e m b e r 1991 U.S. Net Foreign Assets U.S. Factors Annual Accounting for Change in U.S. Net Foreign Foreign Assets 53 Flows Annual -16,536 24,075 40,611 -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 -28,349 25,642 53,991 -71,698 13,435 85,133 Flows U.S. net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 1 2 3 -239 1,184 -1,723 -1,372 -65 -979 • U.S.net sales 8 SDRs 4 -16,775 -1,286 25,671 29,465 -28,414 -72,677 = U.S.net fgn.investment, adj. 5 249 657 408 1,477 1,126 -351 2,573 3,598 1,025 1,966 4,332 2,366 -2,019 -162 3,613 7,296 3,683 + R e v a l u a t i o n of f o r e i g n e q u i t i e s 209 held by U.S. r e s i d e n t s 1,153 C h a n g e in v a l u e 944 -Net purchases 6 7 8 -5,845 -3,170 2,675 -104 2,318 2,422 4,562 1,659 10,894 15,126 4,232 -5,007 -178 4,829 3,318 14,097 20,078 5,981 - R e v a l u a t i o n of U . S . c o r p o r a t e 984 e q u i t i e s held by f o r e i g n e r s -301 C h a n g e in v a l u e -1,285 -Net purchases 9 10 11 -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 - 2 1 ,674 -11,479 10, 195 -7,236 2,587 9,823 -7,371 6,007 13,378 + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e - D i r e c t investment (1) 12 13 14 97 3,825 3,728 24 7,876 7,852 178 11 .991 11 , 8 1 3 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 - 79 215 136 452 452 -293 -361 -68 -212 7,926 8,138 -1,510 1 ,843 3,353 -861 2,731 3,592 - 1 ,089 41 1 ,130 + R e v a l u a t i o n of U . S . o f f i c i a l f g n . -1,555 e x c h a n g e 8 n e t I M F p o s i t i o n 18 596 C h a n g e in v a l u e 19 2,151 - N e t i n c r e a s e in f g n . l i a b . 2 0 3,441 -1,342 -6,288 3,998 20,547 9,192 9 10 11 12 13 14 15 16 17 18 19 20 -1 ,002 -14,410 6,221 -1 ,806 213 1 ,208 1,370 8,570 11 ,888 are in millions of dollars. of gold fgn.dir.inv.in in v a l u e investment (1) Reval.of Change -Direct 986 1,625 -11,003 + Other ,969 -46,461 -95,335 = Change -19,810 Memo: Net foreign U.S. revaluations (1) Excludes Data Net Assets in U.S.net assets capital 15 16 17 21 fgn.assets 22 outstanding 23 gains. S e p t e m b e r 1991 U.S. Net Foreign U.S. Assets Factors 54 Annual Accounting for Change in -157,959 14,464 172,423 16,453 33,107 16,654 -13,328 — 6,404 6,924 26,196 43,362 17,166 -8,884 6,703 15,587 25,809 25,330 -479 50,997 57,601 6,604 -21,480 -36,022 -14,542 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 15,729 43,342 27,613 -459 20,032 20,491 -345 35,799 36,144 4,111 51,376 47,265 -507 57,063 57,570 2,289 71 , 9 6 6 69,677 -36,152 2,918 39,070 17 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 5,728 7,694 1,966 20 8 SDRs -897 -246 -510 fgn.investment» adj. -105,094 -132,840 -158,469 6 7 8 + R e v a l u a t i o n of f o r e i g n e q u i t i e s held by U . S . r e s i d e n t s C h a n g e in v a l u e -Net purchases 8,586 12,275 3,689 9,568 10,721 1,153 25,193 29,522 4,329 R e v a l u a t i o n of U . S . c o r p o r a t e e q u i t i e s held by f o r e i g n e r s C h a n g e in v a l u e -Net purchases + R e v a l . of U . S . d i r . i n v . a b r o a d C h a n g e in v a l u e -Direct investment CI) • Reval.of Change -Direct fgn.dir.inv.ln U.S. in v a l u e investment CI) R e v a l u a t i o n of U . S . o f f i c i a l e x c h a n g e 8 net IMF p o s i t i o n C h a n g e in v a l u e - N e t i n c r e a s e in f g n . l i a b . 21 + Other 22 = Change revaluations 23 Memo: Net foreign CI) E x c l u d e s Data are in in U.S.net assets capital millions fgn.assets outstanding gains. of dollars. 1988 7,154 8,063 909 sales = U.S.net gold Flows 6,787 4,657 -2,130 • U.S.net of Assets -31,562 72,937 104,499 5 18 19 20 Foreign —86,944 96,419 183,363 4 15 16 17 Net Assets -136,569 33,227 169,796 -104,197 4,553 108,750 -132,594 27,987 160,581 U.S. net f o r e i g n i n v e s t m e n t N e t U . S . a c q . of f g n . a s s e t s - N e t f g n . a c q . of U . S . a s s e t s 12 13 14 Foreign Annual 1 2 3 - Net Flows 1987 9 10 11 U.S. fgn. 9 10 11 12 13 14 15 16 18 19 -6,289 -24,072 5,120 -7,905 -9,139 21 -117,834 -156,093 -147,698 -120,352 24,867 22 S e p t e m b e r 1991 Tangible Asset Holdings Tangible Details Annual of Changes in Stocks of Tangible Asset Holdings Assets Flows Annual 1945 1946 1947 1948 1949 1950 1951 Flows 1952 1 2 3 4 5 6 47 21 2 4 18 ,266 989 ,220 ,044 ,765 248 55 30 1 4 18 ,472 ,508 ,611 ,997 ,069 287 69,,999 36,,223 6 ,042 6 ,729 2 0 ,,693 312 61 38 3 4 14 ,521 ,054 ,662 ,546 ,911 348 85 47 5 8 24 ,849 ,761 ,309 ,358 ,007 414 90 47 5 6 30 ,342 ,499 ,778 ,080 ,526 459 82 46 3 6 25 ,782 ,779 ,571 ,460 ,567 405 P u r c h a s e s of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 7 8 9 10 11 12 23 11 1 3 7 ,310 ,412 ,212 ,127 ,344 215 28 13 1 3 8 ,573 ,969 ,500 ,899 ,968 237 33 16 1 4 10 .038 ,083 ,817 ,454 ,418 266 36 17 2 4 11 ,113 ,853 ,069 ,716 ,199 276 39 19 2 4 12 ,458 ,848 ,305 ,999 ,018 288 45 23 2 5 13 ,663 ,139 ,671 ,695 ,830 32* 49 25 2 6 14 ,708 ,582 ,925 ,009 ,838 354 Capital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 7 8 9 10 11 12 13 14 15 16 17 18 2 3 ,956 10 , 5 7 7 ,008 917 11 ,421 33 26 ,899 16 ,539 111 1 ,098 9 ,101 50 36 20 4 2 10 ,961 , 140 ,225 ,275 ,275 46 25 ,408 2 0 ,201 ,593 -170 3 ,712 72 46 27 3 3 11 ,391 ,913 ,004 ,359 ,989 126 44 ,670 24 ,360 3 , 107 385 16 , 6 9 6 131 33 • 0 7 4 Net c a p i t a l f o r m a t i o n Households 21 ,197 Farm business 646 Nonfarm noncorp. business 451 Nonfinancial corp. bus. 10 , 7 2 9 Financial institutions 51 13 14 15 16 17 18 19 4 ,918 9 ,853 3,,018 1 ,297 656 322 20 21 22 23 24 25 1 ,436 14 ,261 -943 917 - 1 1 ,996 1 ,031 - 3 ,278 2 ,907 -61 - 1 ,098 - 5 ,760 734 - 5 ,563 4 ,864 - 4 ,184 ,275 - 4 ,912 944 3 ,004 454 - 1 ,570 170 3 ,067 883 -8 3 -2 -3 -7 1 ,438 ,848 ,971 ,359 ,673 ,717 -922 10 , 5 9 6 - 3 ,108 -385 - 8 ,772 747 12 , 0 0 7 14 , 7 0 8 -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 - 1 0 ,394 - 5 ,503 - 4 ,919 28 31 2 ,347 - - 1 ,162 - 71 - 2 ,249 2 ,010 ~ 1 ,921 ,404 ,817 ,514 ,380 ,525 ,965 203 3 2 ,935 12 ,846 2,,795 6 ,807 9,,000 - 1 ,,199 288 961 3 ,696 ,811 2 - 4 ,963 -583 43,,404 11 ,609 12 ,865 12 ,239 6 ,691 32,,935 12,,263 13,,364 2,,447 4 ,861 8,,686 2,,958 802 2,,436 2,,454 36 4 ,200 2 ,037 - 1 ,, 7 9 9 2,, 0 0 7 ,943 12 21 4 11 2 2 ,755 ,010 ,914 ,847 ,933 51 18,,005 3 ,837 7 ,859 2,,858 3,,386 65 -1 153 65 -219 167 74 -241 -1 170 81 -252 - - - 961 ,172 ,651 ,416 ,887 ,856 -7 43 15 6 6 9 -4 - 2 ,753 32 33 34 35 36 37 38 52 13 8 11 13 -5 ,665 ,661 ,271 ,514 ,907 ,263 49 56 17 6 12 14 -5 ,690 ,320 ,301 ,288 ,825 ,899 57 2 0 ,,572 7,,262 - 2 ,,192 5,,455 7,,723 - 2 ,,152 172 1 -1 1 1 1 39 40 41 42 43 52 20 19 12 ,665 ,392 ,292 ,689 292 56 22 19 11 2 ,690 ,946 ,834 ,401 ,509 2 0 ,,572 9,,953 9,, 1 8 8 537 894 44 45 46 47 48 49 13 , 2 6 0 3 ,000 5 ,073 2 ,937 2,, 2 3 6 14 11 3 1 3 3 ,772 ,921 ,337 ,288 ,193 33 50 51 52 53 54 -3 126 54 -181 -2 55 56 57 58 59 60 61 4 9 ,,837 48 690 36,,250 1,,277 3,,127 6, 7 6 9 !',267 6 6 ,, 4 8 7 5 2 ,, 1 8 0 3 3 ,, 4 1 5 1,, 5 5 0 3,,899 12,,309 1,, 0 0 7 72. 946 64, 4 2 3 41, 087 1, 8 5 8 4, 4 5 4 15, 7 8 1 1, 2 4 3 6 0 ,,808 64, 5 1 0 38, 5 0 8 2,,092 4,,716 17, 9 7 8 1 =2 1 6 8 1 ,,679 77,,388 5 1 ,,609 2, 3 3 8 4,.999 16,,334 2,,108 93,,751 8 9 ,,395 5 8 ,,095 2,,670 5,,695 2 1 ,,754 1,,181 62 63 64 65 66 1,,147 234 881 30 2 14,, 3 0 7 55 14, 2 1 5 34 3 8, 5 2 3 146 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 3 176 87 -262 -1 -2 189 98 289 - - 1 ,291 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 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 Unallocated 31 are in millions of dollars. financial flows 6 ,060 R e v a l . of p h y s i c a l a s s e t s Households 3,,106 -565 Farm business Nonfarm noncorp. business 1,,110 Nonfinancial corp. bus. 3,,308 1,,000 - I n v e n t o r y v a l u a t i o n a d j . 101 Financial institutions 6 0 6 0 R e v a l u a t i o n s by t y p e of a s s e t 3,,965 Residential structures P l a n t and e q u i p m e n t 5,,118 - 3 ,,892 Inventories 869 Consumer durables 19 32 33 34 35 36 37 38 39 40 41 42 43 8,,591 2, 7 3 9 481 2,.341 2,,999 31 C h a n g e in l a n d v a l u e s Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 44 45 46 47 48 49 195 105 -301 1 A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business 50 51 52 53 54 Memo: Total 84, 395 94, 7 6 3 6 1 ,.487 2, 8 9 4 6, 0 0 9 380 1,,993 -10, 368 - 5 ,.503 - 4 ,.919 45 9 gross domestic investment, F l o w of F u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp.business Private finan.institutions 55 56 57 58 59 60 61 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 62 63 64 65 66 (1) Lines Data 1 2 3 4 5 6 20 + 26 S e p t e m b e r 1991 Tangible Asset Tangible Holdings 56 Annual Details of Changes in Stocks Asset 87, 600 51, 646 1, 4 4 5 7, 8 4 2 26, 028 639 8 6 , 166 51, 995 2, 4 4 2 7, 8 1 2 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, 2 5 5 15,,851 376 57, 591 30, 763 3, 1 9 2 6, 4 6 2 16, 7 6 3 411 60, 32, 3, 6, 17, 13 N e t c a p i t a l f o r m a t i o n Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Financial institutions 18 3 4 =.259 23, 8 6 9 - 1 ,,637 1,,587 10,,177 263 28, 575 21, 2 3 2 -750 1,,350 6,,482 261 19 N e t f o r e i g n i n v e s t m e n t ( 1 ) Net financial i n v e s t m e n t : Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. - 1 ,728 8 ,036 10 ,499 1 ,586 , - 1 ,587 - 3 ,,933 1 ,471 - 1 1 ,293 - 3 ,,490 - 7 ,810 7 1 P u r c h a s e s of p h y s i c a l a s s e t s Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 6 Financial institutions 20 21 22 23 24 25 26 27 28 29 30 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 31 Unallocated financial flows 32 R e v a l . of p h y s i c a l a s s e t s Households 33 Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - I n v e n t o r y v a l u a t i o n a d j . 38 Financial institutions 4 3 ,347 2 6 ;- 3 0 5 -181 -172 17 !,041 354 3 7 ,823 2 3 ,,156 - 1 ,,091 1 ,765 13 , 6 4 0 353 24, 4 1 3 18, 1 7 4 467 743 4, 7 4 6 283 4 3 ,200 2 6 ,,316 -19 2,,664 13 •,803 436 39 ,059 2 4 ,768 -192 1 ,617 12 , 4 9 3 373 13 14 15 16 17 18 26 - 1 ,323 4,, 5 6 9 356 - 1 ,,878 - 2 ,, 1 7 2 5 ,073 916 ,748 -2 ! - 6 ,920 1,, 5 0 7 2 ,778 12 ,204 138 172 - 1 1 ,128 1,392 ,815 ,908 ,040 ,765 ,330 962 17,.139 16,,911 -499 -743 -770 2,,240 931 - 2 ,977 3,, 9 1 6 -8 - 3 ., 1 2 2 - 4 ,662 1 ,,5 2 8 12 - 5 ,032 1 ,501 , 2 ,052 ,068 -2 ! 1,, 0 8 7 185 1 ,845 - 1 ,, 0 0 0 3 Z ,637 -259 564 788 , 1 245 -300 -1 2 0 ,998 2,, 9 8 7 1 ,211 4 ,253 10 , 5 5 2 - 1 ,750 245 35 8 1 6 15 -2 ,166 ,344 ,532 ,419 ,808 ,675 388 2 ,637 4 ,256 1 ,952 -695 - 2 ,876 2 0 ,998 8 , 151 13 ,706 1:,576 - 2 :, 4 3 5 35 4 20 4 5 28 9 6 4 7 ,343 ,606 ,145 ,031 ,255 ,095 ,080 7 8 9 10 11 12 1,,280 55 56 57 58 59 60 61 dollars. 8 2 ,.586 44, 5 9 1 3,,740 8 ,469 25,,126 660 1 ,529 = Memo: Total gross domestic investment, F l o w of F u n d s b a s i s 84 Private sectors 95 Households 62 Farm business 3 Nonfarm noncorp. business 6 Nonfinancial corp.business 22 Private finan.institutions 2 of 79,,780 4 3 ,,078 3,,732 8,,226 2 4 ,,128 616 697 - 3 ,,240 3 •, 9 3 7 198 112 -311 1 31. 76, 2 6 0 40, 980 3, 6 5 9 7, 9 8 6 23, 052 583 - 9 ,291 - 3 :,829 - 5 ,466 4 - A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business millions 72, 9 1 8 38,.934 3 i5 9 9 7,,784 2 2 ,,043 558 -260 50 51 52 53 54 2 0 + 2 6 + 1 2 3 4 5 6 7 ,751 6 ,141 737 - 1 ,350 -537 2.,760 7 2 -1 2 3 ,687 ,540 ,386 ,467 ,987 79 15 3 3 3 5 - - 1 1 ,263 - 3 ,490 - 7 ,810 27 10 ,135 ,478 ,225 ,010 ,306 116 17 4 4 3 4 -3 200 118 -320 -1 84 93 58 3 6 ,626 ,892 ,136 ,179 ,462 ,708 3 ,407 - 9 ,266 - 3 ,829 - 5 ,466 7 1960 1 2 1 .,645 69,.359 3, 5 4 8 10,.086 37,.619 1,.033 47, 941 3 1 ,,065 -949 2,,748 14,,635 442 C h a n g e in l a n d v a l u e s Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 1959 122, 9 8 0 69, 3 9 4 3,.713 10,.890 37, 931 1.,052 6 7 ,,517 36,,142 3,,485 7 355 2 0 -027 508 - 1958 Flows 673 154 126 729 798 866 650 353 300 778 782 437 44 45 46 47 48 49 in 1957 110, 741 6 2 ,,090 2, 5 0 8 9, 5 4 9 35, 6 8 3 911 2,, 0 5 2 768 1,, 9 1 7 633 - 1 ,266 are 1956 110, 8 6 4 62, 4 4 7 3, 3 0 4 7, 1 8 3 37, 0 6 8 862 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 1955 108, 591 63, 4 1 8 2, 351 9, 5 2 6 32, 4 1 7 879 39 40 41 42 43 CI) Lines Holdings Assets Annual 1954 Data Tangible Flows 1953 62 63 64 65 66 of ,210 ,514 ,562 ,345 ,642 147 1 ,805 19 3 ,538 1 0 ,543 -18 - 2 ,, 6 6 4 - 6 ,026 1,,703 5 ,241 12 ,653 157 - 1 ,617 - 8 ,435 2 ,483 20 21 -16, 594 - 5 ,,508 - 1 1 ,,113 27 - 7 ,,116 - 4 ,,168 - 2 ,,938 -10 - 1 ,836 - 3 ,314 1,,469 9 26 27 28 29 30 -124 189 1,,700 - 1 ,600 31 8 -3 2 1 6 -1 ,614 ,888 ,858 ,459 ,555 ,525 105 8 ,,775 3,,423 1,,413 1,,740 1,,886 -250 63 4 ,400 - 1 ,147 252 1 ,056 3 ,873 -277 89 ,166 ,878 ,356 ,151 ,781 8 1 8 2 -3 ,614 ,224 ,803 ,178 ,591 8,,775 2..785 2,,416 1,,518 2,,056 4 ,400 1 ,042 4 ,274 -304 -612 ,293 ,173 ,926 ,616 ,382 196 21 3 6 3 7 ,704 ,641 ,473 ,831 ,559 200 2 3 ,,281 3,,865 8 ,955 3,, 5 0 5 6 ,744 212 214 139 -352 -1 -3 218 147 -369 1 -1 222 157 -380 1 229 168 -396 - - ,573 ,604 ,651 ,442 ,355 ,940 ,216 115 ,434 118 ,506 76 ,998 3 ,548 7 ,784 2 8 ,353 1 ,823 101 ,218 117 ,776 76 , 0 6 5 3 ,627 7 ,986 271, 0 2 8 3 ,070 969 - 2 ,977 3 ,916 14 16 - 3 ,072 - 4 ,662 1 ,528 37 25 - 1 6 ,558 - 5 ,508 - 1 1 ,113 49 14 - -1 206 125 -331 -1 107 106 68 3 6 25 2 ,116 ,388 ,491 ,267 ,778 ,497 ,355 728 - 3 ,240 3 ,937 23 8 100, 59, 4, 8, 27, 114 113 74 3 7 25 2 7 14 1 -1 -7 20 4 6 3 5 119 126 79 3 8 31 2 ,321 ,190 ,546 ,590 ,787 208 ,402 ,472 ,937 ,695 ,226 ,905 ,709 - 7 ,070 - 4 ,168 - 2 ,938 23 13 23 24 25 - 2 ,977 32 - 3 ,952 3 3 1 ,524 34 649 35 - 1 ,429 36 -173 37 5 8 38 - 2 ,977 905 - 1 ,991 734 - 2 ,625 39 40 41 42 43 ,622 ,114 ,311 ,895 ,097 205 44 45 46 47 48 49 236 176 -413 1 50 51 52 53 54 21 10 1 4 5 125 126 82 3 8 29 3 ,050 55 ,837 56 ,012 5 7 ,705 5 8 ,469 5 9 ,184 60 , 4 6 7 61 - 1 ,787 - 3 ,314 1 ,469 43 15 62 63 64 65 66 S e p t e m b e r 1991 Tangible Asset Holdings Tangible Details Annual of Changes in Stocks of Tangible Flows 1962 1963 1964 1965 1966 1967 119 66 3 11 36 ,017 ,145 ,711 ,667 ,520 974 134 ,670 7 2 ,481 4 ,168 13 , 2 7 4 4 3 ,453 1 ,294 144 79 4 15 44 1 ,905 ,017 ,637 ,332 ,775 ,144 156 85 3 15 49 1 ,473 ,057 ,985 ,926 ,746 ,759 179 92 6 17 61 2 ,610 ,321 ,458 ,351 ,444 ,036 197 ,135 97 ,436 5 ,897 16 , 2 5 4 75 ,557 1 ,991 196 98 7 17 71 2 7 8 9 10 11 12 85 46 3 8 25 ,200 ,264 ,734 ,635 ,876 691 8 7 ,799 47,620 3 ,762 8 ,864 26 ,823 730 91 49 3 9 27 ,280 ,522 ,807 ,155 ,998 798 95 51 3 9 29 ,666 ,889 ,893 ,569 ,445 870 100 54 4 10 31 ,628 ,042 ,046 ,101 ,459 980 107 ,489 5 6 ,961 4 ,288 10 , 8 5 0 34 ,284 1 ,106 116 ,768 61 , 7 7 3 4 ,552 11 , 6 1 4 37 ,563 1 ,266 13 14 15 16 17 18 33 ,817 19 , 8 8 1 -23 3 ,032 10 , 6 4 4 283 4 6 ,871 2 4 ,861 406 4 ,410 16 , 6 3 0 564 53 ,625 29 ,495 830 6 ,177 16 , 7 7 7 346 60 ,807 33 ,168 92 6 ,357 2 0 ,301 889 78 ,982 38 ,279 2 ,412 7,250 2 9 ,985 1 ,056 8 9 ,646 4 0 ,475 1 ,609 5 ,404 41 , 2 7 3 885 4 ,971 19 2 ,833 2 ,261 4 ,053 5 ,917 20 21 12 , 0 9 7 17 , 0 2 6 -6 - 3 ,032 - 4 ,645 2 ,754 11 , 4 7 3 18 , 3 1 8 -407 - 4 ,410 - 4 ,940 2 ,912 5 ,036 17 , 3 5 6 -947 - 6 ,177 - 5 ,858 662 11 , 9 1 9 23 ,449 -102 - 6 ,357 - 7 ,006 1 ,935 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 31 159 - 1 ,,433 3 ,039 544 1 ,318 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 , 8 6 3 3 ,484 475 3 ,310 4 ,771 -494 329 11 ,915 - 3 ,613 3 ,571 3,,294 6 ,898 - 1 ,,245 520 45 17 1 9 13 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, 4 9 5 3, 7 6 0 - 7 ,.842 4 5 ,466 2 4 ,842 19,,421 1 ,941 -738 44 45 46 47 48 49 19,,383 4 1 ,111 5 ,723 3.,663 5,.622 264 14,.649 3, 8 1 6 5,.184 3, 5 1 4 1, 9 1 6 219 16,.423 2,.883 7,.887 3, 5 0 7 1,.973 173 2 1 ,,537 5,,831 8 , 141 4,,218 3,,091 256 23, 328 4, 8 2 3 11 ,0 6 5 3, 9 6 8 3, 2 5 1 221 50 51 52 53 54 -3 244 183 -430 -1 256 192 -448 -1 -3 270 203 -475 -1 -2 308 227 -537 55 56 57 58 59 60 61 . 121, 6 9 1 131 , 0 8 1 8 3 ,.171 3,.705 8, 6 3 5 31, 8 7 5 3, 6 9 5 138,,364 146,,100 90,,799 3, 7 6 1 8 ,,864 3 8 ,,513 4,,163 1 4 5 ,,919 1 4 9 ,.905 96,.373 3,.690 9, 1 5 5 38, 9 1 7 1, 7 7 0 161 ,8 4 6 168,• 3 3 3 108, 5 0 6 3,.883 9, 5 6 9 42, 740 3, 6 3 5 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 - 6 27 -2 -7 -11 ,777 ,394 ,366 ,250 ,780 779 - 3 ,124 - 2 ,453 -669 -2 - -2 286 212 -499 -1 3 ,661 10 35 -1 -5 -18 ,655 ,944 ,527 ,404 ,964 606 79 36 2 5 33 ,314 ,269 ,046 ,243 ,559 ,197 ,546 ,496 ,494 ,629 ,996 931 2 ,375 21 42 -2 -5 -14 1 ,251 ,506 ,453 ,629 ,257 ,084 - 5 ,552 - 3 ,836 - 1 ,651 -65 - 1 8 ,688 — 4 , 908 - 1 3 ,795 15 - 1 ,442 -188 - - ,466 ,797 ,660 ,806 ,286 ,107 810 218 113 6 18 75 3 ,006 ,974 ,351 ,629 ,430 P u r c h a s e s of p h y s i c a l a s s e t s Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 127 ,999 67 ,619 4 ,852 12 ,583 41 ,427 1 ,518 Capital consumption Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 7 8 9 10 11 12 90 ,007 46,355 1 ,499 6 ,039 34 ,202 1 ,912 Net c a p i t a l f o r m a t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 13 14 15 16 17 18 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 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 Unallocated 31 1 ,051 9 33 -1 —6 -17 1 ,314 ,055 ,456 ,039 ,462 ,216 - 1 3 ,789 - 4 ,033 - 9 ,651 -105 5 ,526 in millions of dollars. financial flows 19 32 33 34 35 36 37 38 36,,010 13,,199 17,,394 1,,953 3,,464 95,, 3 7 2 R e v a l u a t i o n s b y t y p e o f a s s e t 5 0 ,, 4 6 2 Residential structures 34,,360 P l a n t and e q u i p m e n t 6,,470 Inventories 4 080 Consumer durables 39 40 41 42 43 4 0 ,,327 2 0 ,096 7,,985 8,,443 3,,654 149 17,,168 5,,435 9,,289 2,,252 234 -42 2 4 ,, 3 0 7 C h a n g e in l a n d v a l u e s 13,,134 Households 6,,139 Farm business 4 ,858 Nonfarm noncorp. business 1 Nonfinancial corp. business 175 Private finan. insts. 44 45 46 47 48 49 -2 337 245 -583 -1 -2 361 265 -629 263 316 715 092 101 664 744 2 0 2 ,,238 2 0 7 ,,712 133, 3 8 0 4, 3 7 0 10,.850 56, 5 9 3 2, 5 1 9 198, 8 7 7 217, 476 140, 775 4, 5 9 3 11, 6 1 4 57, 302 3, 1 9 2 - 3 , 053 - 2 , 453 669 61 8 -5, 474 -3, 836 - 1 , 651 4 9 -18, 599 - 4 , 908 - 1 3 , 795 91 13 183, 186, 119, 4, 10, 49, 2, ,010 ,025 ,272 ,098 ,283 ,554 778 1 -4 393 288 684 -1 Memo: Total 2 1 3 ,.531 2 2 8 ,.513 147, 029 4, 8 9 5 12, 5 8 3 59, 497 4, 5 0 9 -14, 982 - 4 , 033 - 1 0 , 981 22 10 A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business 50 51 52 53 54 gross domestic investment, F l o w of F u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp.business Private finan.institutions 55 56 57 58 59 60 61 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 62 63 64 65 66 CI) Lines are 1 2 3 4 5 6 95 ,372 R e v a l . of p h y s i c a l a s s e t s 4 3 ,437 Households 4 ,780 Farm business 17 , 1 4 9 Nonfarm noncorp. business 2 5 ,136 Nonfinancial corp. bus. - 3 ,651 - I n v e n t o r y v a l u a t i o n a d j . 1,,219 Financial institutions - 36 14 1 5 13 Flows 1968 1 2 3 4 5 6 Data Holdings Annual 1961 23 24 25 Asset 57 Assets 20 • 26 • 31. S e p t e m b e r 1991 Tangible Asset Tangible Holdings 58 Annual Details of Changes in Stocks of Tangible 1970 1971 1972 ,920 ,876 ,904 ,609 ,562 ,969 439 237 13 27 151 9 ,142 ,517 ,570 ,350 ,397 ,308 1 2 3 4 5 6 ,349 ,377 ,605 ,989 ,952 ,426 ,554 201 : 106 ,567 7 ,228 19,, 9 6 5 65,,023 2,,771 231 120 8 22 75 3 ,333 ,828 ,308 ,677 ,995 ,525 268 137 9 26 91 4 ,788 ,106 ,789 ,107 ,338 ,448 297 151 10 28 101 5 ,791 ,657 ,771 ,514 ,605 ,244 7 8 9 10 11 12 100 ,687 5 0 ,672 3 ,199 13 , 7 4 3 31 , 0 0 8 2,, 0 6 5 1 2 8 ,858 6 6 ,793 2,,671 2 1 ,,150 3 5 ,452 2,, 7 9 2 ,953 161 : 76,, 8 2 9 6 854 ,527 5 2 ,,351 3,, 3 9 2 133 59 2 10 56 4 ,283 ,568 ,903 ,254 ,435 ,123 8 6 ,132 5 6 ,770 7 ,115 -498 17,,224 5,,521 141 85 2 -1 49 4 ,351 ,860 ,799 ,164 ,792 ,064 13 14 15 16 17 18 2 ,978 - 1 0 ,498 - 6 ,,964 4,,485 - 7 ,,498 2 4 ,,031 ,853 ,501 ,748 ,724 ,300 ,876 16 ,628 4 8 ,954 - 3 ,,184 - 1 3 ,,743 - 1 6 ,062 663 7,,355 5 1 ,,946 - 2 ,,499 - 2 1 ,,150 - 1 6 ,,930 - 4 ,, 0 1 2 987 80, 016 - 6 ,,255 ,527 - 5 0 ,,616 369 - 2 2 ,104 - 8 ,923 - 1 2 ,954 227 - 3 2 ,072 - 8 ,678 - 2 3 ,469 75 - 1 7 ,, 0 3 0 1 ,815 - 1 8 ,961 116 ,070 ,873 ,141 ,169 ,709 ,178 3 1 3 ,, 2 0 7 164,, 1 7 0 9,,276 3 9 ,139 9 5 ,404 5 ,218 7 Capital consumption 8 Households Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Financial institutions 12 141,,450 7 5 ,325 5 ,251 13,,831 4 5 ,351 1,,692 154 82 5 14 49 1 ,577 ,319 ,631 ,971 ,798 ,858 169 90 5 16 54 2 ,383 ,201 ,942 ,426 ,701 ,113 184 97 6 17 59 2 13 N e t c a p i t a l f o r m a t i o n Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Financial institutions 18 9 7 ,994 4 6 ,178 1,,529 9 ,070 39,,309 1,,908 79 37 1 8 30 1 ,888 ,086 ,756 ,724 ,770 ,552 23 24 25 26 27 28 29 30 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 31 Unallocated financial flows 3 2 R e v a l . of p h y s i c a l a s s e t s Households 33 Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - Inventory v a l u a t i o n adj. Financial institutions 38 - 1 ,,121 - 1 ,257 - 7 ,308 6 ,247 -196 15 52 -1 -8 -20 -5 - - 31 91 , 7 9 2 3 6 ,179 6 ,579 15 ,473 2 6 ,,689 -5 870 1',002 77 ,387 2 7 ,030 2,,123 11,,310 2 8 ,, 9 8 2 -6, 552 1,, 3 9 0 111 ,, 7 3 7 4 3 ,,790 7,,404 19,,682 34,,573 - 4 ,,584 1 ,704 , 116,,625 4 7 ,,731 13,,693 17,,880 2 9 ,,383 -6, 610 1, 3 2 8 2 2 0 ,, 7 2 2 8 6 ,209 2 4 ,,697 30,,604 56, 7 9 7 -20, 022 2,,393 4 2 8 ,321 145,, 2 1 8 14,,828 5 3 ,,028 169,, 3 4 7 - 3 9 ,, 4 5 7 6,,443 2 2 0 ,592 7 8 ,199 5 ,662 2 9 ,,771 93,,294 - 1 0 ,,952 2,,714 2 5 7 ,879 110,, 8 7 7 7,, 6 9 2 4 6 ,,907 73,,168 - 1 4 ,911 4 ,324 32 33 34 35 36 37 38 116, 625 6 1 ,.194 41, 958 17,• 3 1 2 - 3 ,,839 2 2 0 ,.722 100, 2 5 8 68, 4 2 0 47, 436 4, 6 0 8 4 2 8 ,321 1 2 0 ,,037 2 0 9 ,,249 5 5 ,,255 4 3 ,,780 220, 5 9 2 75, 5 3 9 110,,775 11,,139 2 3 ,,139 2 5 7 ,879 1 2 7 ,230 9 8 ,068 18,,436 14,,145 39 40 41 42 43 71 ,,002 19,,694 2 3 ,,859 18,, 7 6 6 8 ,325 358 1 2 8 ,,885 35,,934 5 4 ,,433 2 5 ,841 12 ,343 334 111,,270 31 ,762 2 9 ,,805 2 6 ,,233 2 2 ,,785 685 94,.900 18, 8 6 6 46, 326 23, 638 5,.901 169 176,,655 5 7 ,,437 71,,001 33,,957 13,,729 531 44 45 46 47 48 49 -3 618 467 - 1 ,, 0 8 7 -1 -1 368 549 -918 -1 423 672 - 1 ,.093 -3 -3 473 768 - 1 ,,243 -1 50 51 52 53 54 356 375 240 8 ,977 ,589 ,604 ,530 ,677 101 ,666 2 ,112 365, 630 446, 284 295, 621 10,.336 2 6 ,.107 120, 2 7 2 - 6 ,,052 4 3 9 ,,591 502, 490 315, 2 4 0 11,.215 2 8 ,.514 138,,308 9,,213 55 56 57 58 59 60 61 - 1 8 ,612 - 3 ,042 - 1 6 ,034 409 55 - 8 0 ,,654 - 5 ,,327 - 7 5 ,,933 5^5 71 - 6 2 ,899 -432 - 6 3 ,242 710 65 62 63 64 65 66 ,865 ,459 ,584 ,058 ,632 132 38,,601 16,, 5 9 4 11 , 9 0 4 6 ,912 2,,951 240 50 51 52 53 54 A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business -1 444 320 -765 55 56 57 58 59 60 61 Memo: Total gross domestic Investment, F l o w of F u n d s b a s i s 2 3 2 ,187 2 3 3 ,319 Private sectors Households 149,,131 Farm business 5 ,312 Nonfarm noncorp. business 13,,831 Nonfinancial corp.business 65,,594 -549 Private finan.institutions of dollars. 26 27 28 29 30 14 , 3 0 3 18 7 4 4 2 31. - 5 9 ,569 -432 - 5 9 ,269 132 13,,321 2 4 ,,284 12 ,099 2,, 6 7 2 5 ,626 3 ,633 254 millions - 7 9 ,910 ,327 - 7 4 ,610 27 141 C h a n g e in l a n d v a l u e s Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 2 0 + 2 6 + - 1 2 ,651 - 3 ,042 - 9 ,544 -65 5 ,513 44 45 46 47 48 49 in 20 21 22 23 24 25 2,,711 111 , 7 3 7 55, 5 9 4 5 0 ,,869 9,,725 - 4 ,,451 are ,018 ,723 ,355 ,164 ,062 548 - 77,,387 20, 2 4 6 4 3 ,,546 4,, 7 9 7 8,,798 (1) Lines 60 77 -2 1 -17 4 ,946 91,,792 4 1 ,,871 35,,761 10,,870 3,,290 Data 19 90,,620 ,745 101 , — 6,,568 498 10 , 3 8 7 - 1 5 ,442 9 ,229 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority - 2 ,, 0 1 5 5 , 155 - 7 ,009 -161 14 , 7 5 2 ,012 ,208 ,681 ,254 ,254 ,007 5 60 -2 -10 -37 -5 6 ,136 39 40 41 42 43 62 63 64 65 66 1976 354 193 16 25 108 9 270 140 9 30 85 4 - 6 ,000 2 7 ,628 - 1 :,468 - 9 ,070 - 1 9 ,110 - 3 ,, 9 8 0 1975 ,616 ,396 ,211 ,931 ,430 ,648 ,465 ,405 ,387 ,695 ,568 ,410 363 183 14 42 117 6 1974 364 180 11 32 132 7 234 119 7 23 80 3 Net foreign investment (1) Net financial investment: Private sectors Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Private finan. insts. 1973 Flows ,507 ,396 ,082 ,492 ,374 ,163 2 3 9 ,,444 121,,503 6,,780 2 2 ,,901 8 4 ,,660 3 ,600 1 P u r c h a s e s of p h y s i c a l a s s e t s Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 Financial institutions 6 20 21 Holdings Annual Flows 1969 19 Asset Assets - - 1 ,, 1 3 2 - 7 ,,308 6,,203 -41 14 469 349 -817 -1 -2 505 373 -880 548 421 -967 -2 ,479 ,294 ,412 ,827 ,965 ,926 ,164 2 2 8 ,214 2 5 0 ,457 1 7 1 ,906 5 ,639 14 ,971 60 ,597 - 2 ,, 6 5 6 2 5 4 ,626 2 8 7 ,182 189 ,827 5 ,957 16 , 4 2 6 70,, 3 6 4 4,,608 3 0 3 ,, 5 3 2 321 ,267 2 1 6 ,,116 6,, 7 7 7 17 ,989 79,,386 999 362 367 263 7 19 69 6 - 2 2 ,, 2 4 3 - 8 ,923 - 1 3 ,, 2 8 3 -58 21 - 3 2 ,,556 - 8 ,678 - 2 4 ,,186 270 38 - 1 7 ,, 7 3 5 1,,815 - 1 9 ,,873 293 30 - 4 ,815 5 ,155 - 1 0 ,177 165 42 I S e p t e m b e r 1991 Tangible Asset Holdings Tangible Details Annual of Changes in Stocks of Tangible Assets Asset Holdings ^ Flows Annual 1977 1978 528, 552 284, 225 19,> 0 8 8 39, 2 8 2 176, 8 0 1 9,• 1 5 6 6 2 2 *, 4 2 3 3 2 7 ,, 7 0 3 2 0 ,, 8 7 0 47 , 366 2 1 5 ,688 10,, 7 9 6 6 7 3 ,, 7 9 9 3 5 6 ,068 2 6 ,235 4 4 ,, 3 1 2 2 3 4 ,, 1 9 4 12,, 9 9 0 6 5 6 ,,250 3 4 2 ,,694 14,,138 4 6 ,,594 2 3 8 ,,680 14,, 1 4 4 755 362 24 71 281 16 ,387 ,050 ,116 ,518 ,453 ,250 6 9 9 ,,925 3 5 4 ,,980 13,,805 65 ,212 2 4 8 ,319 17,,609 791 436 4 68 262 19 ,400 ,525 ,146 454 ,761 ,514 1 0 0 0 , 4 0 0 P u r c h a s e s of p h y s i c a l a s s e t s Households 5 0 6 ,184 Farm business 2 0 ,, 1 0 2 Nonfarm noncorp. business 8 1 ,,674 Nonfinancial corp. bus. 361 ,776 Financial institutions 3 0 ,664 7 8 9 10 11 12 3 3 2 ,,704 169,.015 12,,099 31,,945 113,,615 6,,030 376 ,700 190 ,344 13,, 5 5 7 36 ,564 129 ,499 6 ,736 4 3 0 ,, 7 1 4 2 1 5 ,204 15 , 3 4 3 6 2 ,935 149 ,257 7 ,975 4 9 1 ,, 2 1 2 2 4 3 ,638 17,,591 4 9 ,,850 170 ,927 9,,206 550 264 19 57 198 10 ,352 ,363 ,363 ,359 ,403 ,864 598 280 20 63 220 12 ,553 ,913 ,455 ,767 ,973 ,445 622 295 22 64 227 13 ,974 ,297 ,400 , 181 ,745 ,351 6 5 2 , 188 C a p i t a l c o n s u m p t i o n Households 309 ,394 ,500 Farm business Nonfarm noncorp. business 6 7 ,383 Nonfinancial corp. bus. 2 3 8 ,053 Financial institutions 14 ,858 7 8 9 10 11 12 13 14 15 16 17 18 195 115 6 7 63 3 245 137 7 10 86 4 ,723 ,359 ,313 ,802 ,189 ,060 ? 4 3 ,085 140 ,864 10 ,892 ,377 8 4 ,937 5 ,015 1 6 5 ,038 9 9 ,056 - 3 ,,453 - 3 ,,256 6 7 ,753 4 ,938 205 97 4 14 83 5 ,035 ,687 ,753 ,159 ,050 ,386 101 74 -6 1 27 5 ,372 ,067 ,650 ,445 ,346 ,164 168 141 -18 4 35 6 ,426 ,228 ,254 ,273 ,016 ,163 3 4 8 ,212 196 ,790 - 2 ,398 14,291 123,,723 15,,806 Net capital f o r m a t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. bus. Financial institutions 13 14 15 16 17 18 - 2 ,470 2 5 ,896 1 2 3 4 5 6 ,848 ,210 ,989 ,337 ,186 ,126 19 - 1 6 ,536 20 21 22 23 24 25 30 74 -6 -7 -31 26 27 28 29 30 - 4 3 ,728 12 ,159 - 5 6 ,044 157 31 - 3 ,170 ,362 ,756 ,698 ,337 ,030 671 37 60 -6 -10 -22 15 1979 ,041 ,499 ,411 ,802 ,023 ,778 -34 473 5 ,327 - 3 9 ,728 -72 - 71 62 -9 -1 3 16 - 1 7 ,387 6 ,949 - 2 4 ,198 -138 - 5 ,038 ,099 ,475 ,977 ,377 ,631 ,347 1980 31,,234 30 ,837 - 2 8 ,349 167 ,250 183,,934 7,, 1 4 7 - 1 ,445 • - 1 1 ,866 - 1 0 ,520 174 ,680 180 ,346 18 . 8 3 2 - 4 ,273 - 9 ,, 6 6 6 - 1 0 ,559 - 8 7 ,703 - 9 ,266 - 7 7 ,871 566 - 1 5 7 ,843 - 4 ,755 - 1 5 3 ,398 310 - 1 8 7 ,799 3 ,961 - 1 9 2 ,627 867 — 6 6 •, 0 1 3 - 2 ,296 — 6 3 ,339 -378 - - 5 ,874 1983 ,201 ,880 ,530 ,159 ,658 ,332 72 148 -4 -14 -39 -18 ,121 ,731 ,920 ,256 ,635 14 ,849 1982 2 7 ,394 103 103 3 3 - 2 7 ,816 1981 Flows 4 2 ,896 - - 21,, 4 3 0 - 1 5 ,230 1984 1 2 3 4 5 6 - 7 1 ,,698 N e t f o r e i g n i n v e s t m e n t ( 1 ) Net financial investment: Private sectors 96,,446 Households 184,,297 Farm business 3, 0 6 6 Nonfarm noncorp. business - 1 4 ,,291 Nonfinancial corp. bus. - 5 0 ,,264 Private finan. insts. - 2 6 ,, 3 6 2 20 21 22 23 24 25 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 26 27 28 29 30 Unallocated 31 - 1 8 5 ,,557 7,,309 - 1 9 3 ,,061 195 17,,413 financial flows 19 32 33 34 35 36 37 38 358 164 10 65 95 -16 4 ,044 ,050 ,969 ,559 ,994 ,637 ,835 545 220 33 96 166 -25 3 ,636 ,464 ,290 ,813 ,051 ,298 ,720 5 2 0 ,058 184 ,774 18 , 0 3 4 122 ,083 147 ,403 - 4 3 ,175 4 ,589 611 188 31 132 208 -43 7 ,437 ,930 ,021 ,033 ,381 ,129 ,943 540 162 11 120 214 -24 8 ,896 ,094 ,553 ,074 ,529 ,189 ,457 64,,954 - 6 7 ,, 3 8 2 5,,441 36,,309 76,,385 - 1 0 ,,350 3,,851 2 3 3 ,,469 113,,532 ,820 5 2 ,, 2 9 2 33,,200 - 1 0 ,,900 725 177,,248 R e v a l . o f p h y s i c a l a s s e t s Households 2 8 ,,590 Farm business 4,,548 Nonfarm noncorp. business 66,,966 Nonfinancial corp. bus. 69,,881 - 5 ,,800 - I n v e n t o r y v a l u a t i o n a d j . Financial institutions 1,,463 32 33 34 35 36 37 38 39 40 41 42 43 358 190 127 21 19 ,044 ,263 ,213 ,130 ,438 545 235 220 53 36 ,636 ,076 ,457 ,921 ,182 520 235 160 73 50 ,058 ,121 ,473 ,626 ,838 611 ,437 2 1 6 ,,408 2 5 9 ,,467 7 2 ,804 62,,758 540 207 269 25 39 ,896 ,002 ,087 ,668 ,139 64,,954 - 5 7 ,,646 107,,611 7,,021 7,,968 2 3 3 ,,469 151,,917 5 6 ,,254 2 2 ,,806 2,,492 177, 2 4 8 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures 1 0 5 ,,184 P l a n t and e q u i p m e n t 88, 505 Inventories 3, 2 7 6 Consumer durables - 1 9 ,- 7 1 7 39 40 41 42 43 44 45 46 47 48 49 2 0 7 ,644 8 2 ,172 4 5 ,536 5 7 ,013 22,,601 322 293 105 80 73 34 ,821 ,596 ,816 ,228 ,297 -116 3 2 9 ,385 103 ,709 101,, 6 8 7 91 , 9 4 7 32 ,018 24 3 0 5 ,028 8 2 ,159 6 8 ,589 1 0 2 ,877 5 0 ,,703 700 279 124 -10 113 51 ,874 ,350 ,358 ,136 ,871 875 5 3 ,373 5 ,151 - 3 9 ,077 55,, 9 4 2 30,,993 364 189,,509 92,,209 3,,193 69,,190 2 4 ,,445 472 7 2 ,,595 C h a n g e i n l a n d v a l u e s Households 5 5 ,,905 Farm business - 9 9 ,.009 Nonfarm noncorp. business 75, 5 9 2 Nonfinancial corp. business 38, 9 7 8 Private finan. insts. 1, 1 2 9 44 45 46 47 48 49 50 51 52 53 54 -1 548 891 ,440 -1 644 1 ,027 - 1 ,673 1 -2 773 1 ,193 - 1 ,967 -1 -1 909 1 ,399 - 2 ,,308 -1 -2 1 ,030 1 ,570 - 2 ,603 1 13 1,,113 1,,680 - 2 ,, 7 8 2 2 27 1,,160 106 - 1 ,,259 20 A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business 50 51 52 53 54 55 56 57 58 59 60 61 5 1 5 ,,186 5 6 0 ,,725 3 5 8 ,,981 12,,390 31,,945 148,,241 9,,168 6 2 4 ,991 660 ,742 388 ,202 14,, 4 5 9 36 ,564 195,, 6 3 8 2 5 ,879 7 2 7 ,511 7 4 8 ,, 7 8 0 4 1 8 ,, 5 4 3 16 , 2 5 8 4 2 ,935 2 4 2 ,, 5 7 0 2 8 ,, 4 7 4 6 9 3 ,,358 7 6 3 ,,387 4 4 6 ,,425 18,,058 4 9 ,,850 ,042 2 8 ,,012 7 3 9 ,885 8 3 1 ,153 5 1 0 ,930 19 ,586 5 7 ,359 2 4 6 ,, 6 4 2 - 3 ,,364 7 0 9 ,, 3 3 2 8 7 3 .469 5 3 8 ,,914 2 0 ,,952 63,, 7 6 7 2 4 4 ,,244 5,,592 7 7 8 ,,281 9 7 2 ,,363 6 1 6 ,,871 ,978 64, 181 2 6 0 ,,880 7,,453 62 t>3 64 65 66 - 4 5 ,,539 12,,159 - 5 8 ,,514 759 57 - 3 5 ,751 5 ,327 - 4 1 701 587 36 - 2 1 ,, 2 6 9 6,, 9 4 9 -28,, 9 4 3 675 50 - 7 0 ,,029 - 2 ,,296 - 6 8 , 336 513 90 - 9 1 ,, 2 6 8 - 9 ,,266 - 8 2 ,, 7 1 8 620 96 - 1 6 4 ,,137 - 4 ,,755 ,189 -161 , 1,,681 126 - 1 9 4 ,,082 3,,961 - 2 0 0 ,,412 2,,278 91 11 1, 2 4 2 100 - 1 , 321 -10 Memo: Total 911, 2 8 9 1103, 154 6 9 0 ,.481 23, 168 67, 3 8 3 3 1 9 ,.414 2,,708 - 1 9 1 ,,865 7,,309 - 2 0 0 ,.963 1, 6 5 0 139 gross domestic investment, F l o w of F u n d s b a s i s Private sectors Households Farm business Nonfarm noncorp. business N o n f i n a n c i al c o r p . b u s i n e s s Private finan.institutions 55 56 57 58 59 60 61 Public sectors State 8 local governments U.S. government Sponsored credit agencies Monetary authority 62 63 64 65 66 CI) Lines Data are in m i l l i o n s of dollars. 20 + 26 S e p t e m b e r 1991 Tangible Asset Holdings Tangible 6 Q Annual Details of Changes in Stocks of Tangible Asset Holdings Assets Flows Annual 1985 1 P u r c h a s e s of p h y s i c a l a s s e t s Households 2 Farm business 3 Nonfarm noncorp. business 4 Nonfinancial corp. bus. 5 Financial institutions 6 1 0 1 5 ,,325 5 4 8 i,885 7,• 3 6 1 8 4 ,,241 3 3 6 ,,826 38,,012 1986 1 0 6 5 ,,325 603, 7 7 7 7, 6 5 8 88 074 3 2 3 ,, 2 0 7 4 2 ,,609 1987 1988 1 1 2 2 ,,825 6 4 5 ,,659 7,, 2 2 3 71,,964 3 5 1 ,,138 4 6 ,,841 1 2 0 4 ,, 5 5 0 7 0 0 ,791 4 ,059 70,,859 3 7 5 ,,028 5 3 ,,813 1989 1 2 4 5 ,,826 7 3 1 ,,889 9 ,332 6 3 ,778 3 7 9 ,836 6 0 ,991 Flows 1990 1 2 2 1 ,,425 7 2 2 ,,085 9,,725 5 5 ,,683 3 6 7 ,,688 66,,244 1 2 3 4 5 6 7 Capital consumption 8 Households Farm business 9 Nonfarm noncorp. business 10 Nonfinancial corp. bus. 11 Financial institutions 12 6 9 1 ,,797 3 3 2 ,,303 2 2 ,000 70 ,502 2 5 0 ,,497 16,,495 740, 668 3 6 1 ,,699 2 1 ,,200 73,,411 2 6 5 ,• 2 9 0 19,,068 7 9 2 ,,300 3 9 0 ,,118 2 0 ,,500 79, 9 8 8 2 7 9 ,,602 2 2 ,,092 8 3 7 ,,998 4 1 2 ,, 0 9 2 2 0 ,,536 8 4 ,,696 2 9 5 ,269 2 5 ,,405 895 432 20 96 315 29 ,118 ,761 ,674 ,702 ,433 ,548 9 3 0 ,,609 4 5 0 ,,735 2 1 ,,981 96,,624 3 2 8 ,,134 33,,135 7 8 9 10 11 12 13 N e t c a p i t a l f o r m a t i o n Households 14 Farm business 15 Nonfarm noncorp. business 16 Nonfinancial corp. bus. 17 Financial institutions 18 3 2 3 ,,528 2 1 6 ,,582 - 1 4 ,,639 13,,739 8 6 ,329 21 ,517 324, 6 5 7 2 4 2 ,,078 - 1 3 ,,542 14,,663 5 7 ,, 9 1 7 23,,541 3 3 0 ,,525 2 5 5 ,,541 - 1 3 ,,277 - 8 ,,024 71,,536 24,,749 3 6 6 ,, 5 5 2 2 8 8 ,699 - 1 6 ,477 - 1 3 ,837 7 9 ,759 2 8 ,408 350 299 -11 -32 64 31 ,708 ,128 ,342 ,924 ,403 ,443 2 9 0 ,• 8 1 6 2 7 1 ,,350 - 1 2 ,,256 ,941 39,,554 33,,109 13 14 15 16 17 18 - 1 0 4 ,197 - 1 3 2 ,594 - 1 5 7 ,959 - 1 3 6 ,569 - 8 6 ,944 - 3 1 ,, 5 6 2 19 133 143 13 32 -26 -29 187 ,607 1 6 0 ,291 14 , 4 3 2 4 0 ,,941 - 8 ,,762 - 1 9 ,, 2 9 5 20 21 22 23 24 25 26 27 28 29 30 19 N e t f o r e i g n i n v e s t m e n t C I ) 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 Public sectors State S local governments U.S. government Sponsored credit agencies Monetary authority 31 Unallocated financial flows 3 2 R e v a l . of p h y s i c a l a s s e t s Households 33 Farm business 34 Nonfarm noncorp. business 35 Nonfinancial corp. bus. 36 37 - I n v e n t o r y v a l u a t i o n a d j . Financial institutions 38 78 126 15 -13 -19 -29 ,914 ,722 ,496 ,739 ,969 ,596 -202 14 -214 -2 ,838 ,356 ,779 ,415 - 116 162 14 -14 -29 -16 ,633 ,821 ,181 ,663 ,064 ,642 - 2 3 5 ,456 7 ,964 - 2 4 2 ,287 ,133 ,415 ,924 ,206 ,024 ,767 ,972 ,776 ,284 ,849 ,837 ,456 - 4 5 ,738 - 1 7 8 ,772 - 7 ,776 - 1 7 0 ,668 -328 - 2 1 0 ,463 - 1 8 ,591 - 1 9 1 ,745 -127 - 2 1 6 ,193 - 2 1 ,135 - 1 9 3 ,045 - 2 ,, 0 1 3 - 2 4 7 ,,671 - 2 8 ,,211 - 2 1 7 ,,303 - 2 ,,157 78 89 14 8 -8 -24 - 98 153 17 13 ,886 ,885 , 189 ,924 ,461 ,651 - - 19 , 7 2 7 - 1 3 ,,771 - 5 7 ,602 - 2 4 ,, 8 8 2 - 4 ,637 2 8 ,, 5 0 2 31 1 1 4 ,471 3 2 ,159 - 1 ,,546 5 7 ,502 3 0 ,128 - 1 ,675 - 5 ,447 183 ,130 73 ,622 3 ,632 33,,641 74 , 7 8 0 6 ,750 4,, 2 0 5 4 2 4 ,792 1 7 0 ,016 12 , 9 0 0 110,,729 111 , 9 8 8 - 1 9 ,,425 -266 2 7 0 ,, 2 2 2 4 0 ,,810 16,,214 5 5 ,719 123,,796 - 2 6 ,,975 6,,708 4 0 8 ,091 115 ,308 2 3 ,158 113 ,642 126 ,408 - 2 1 ,, 6 7 4 7,,901 64,,968 - 7 5 ,,753 7,,459 35,,350 90,,194 - 1 1 ,,375 - 3 ,, 6 5 7 32 33 34 35 36 37 38 64,,968 - 3 7 ,,879 98,,538 14,,908 - 1 0 ,,599 39 40 41 42 43 ,413 ,877 ,573 ,489 ,228 ,246 - 1 1 2 ,,305 - 1 4 2 ,,780 39,,981 - 2 5 ,,553 14,,368 1,,679 44 45 46 47 48 49 39 40 41 42 43 R e v a l u a t i o n s b y t y p e of a s s e t Residential structures P l a n t and e q u i p m e n t Inventories Consumer durables 114,,471 8 2 ,290 39,,260 - 5 ,,949 - 1 ,,130 1 8 3 ,130 8 6 ,, 9 5 2 102,,788 - 1 7 ,,124 10,,514 4 2 4 ,, 7 9 2 2 4 4 ,, 9 6 2 133,,591 37,, 3 4 4 8,, 8 9 5 2 7 0 ,222 66 ,824 139,,204 5 1 ,,385 12,,809 4 0 8 ,,091 2 0 6 ,,619 171 ,768 2 6 ,040 3 ,664 44 45 46 47 48 49 C h a n g e in l a n d v a l u e s Households Farm business Nonfarm noncorp. business Nonfinancial corp. business Private finan. insts. 8 2 ,522 5 0 ,237 - 7 7 ,,898 7 8 ,209 30,,740 1,,234 2 1 5 ,,188 122,, 1 5 0 - 3 5 ,033 9 4 ,618 31,,928 1,, 5 2 5 2 3 0 ,,186 119,, 9 1 2 6,,521 75 ,177 2 6 ,,609 1 ,967 181,,091 71,,096 39,, 8 7 7 4 4 ,604 2 3 ,805 1,,709 213 105 20 58 26 2 50 51 52 53 54 A d j . to c a p i t a l c o n s u m p t i o n Households Farm business Nonfarm noncorp. business Nonfinancial corp. business 4,,833 6,,100 149 - 1 ,,389 -27 -528 468 446 - 1 ,, 3 6 7 -75 - 2 ,, 7 3 2 965 588 - 4 ,191 -94 4 ,741 10 ,527 -108 - 5 ,538 -140 9 ,369 ,430 -23 - 1 2 ,803 -235 2 0 ,,239 34,,112 - 1 ,,623 - 1 1 ,,208 - 1 ,,042 50 51 52 53 54 55 56 57 58 59 60 61 Memo: Total gross domestic investment, F l o w of F u n d s b a s i s 8 9 1 ,,401 1 0 9 6 ,610 Private sectors Households 6 7 5 ,607 Farm business 2 2 ,857 Nonfarm noncorp. business 70,, 5 0 2 Nonfinancial corp.business 3 2 1 ,,233 Private finan.institutions 6 ,411 946,, 5 0 2 1 1 8 7 ,,118 766,,598 2 1 ,,839 73,,411 3 0 1 ,, 3 3 7 2 3 ,,933 1 0 2 2 ,468 1 2 0 2 ,202 7 3 5 ,583 21,, 4 2 9 79 ,988 3 4 5 ,307 19,, 8 9 5 1 0 9 2 ,,863 1 3 0 4 ,225 8 5 4 ,075 2 1 ,908 8 4 ,696 3 3 7 ,,879 5,, 6 6 7 1 1 6 3 ,519 1 3 7 8 ,778 8 7 5 ,774 2 2 ,,521 96 ,702 3 5 5 ,, 7 7 3 2 8 ,, 0 0 8 1 1 6 1 ,,361 1 4 0 8 ,,446 8 8 2 ,,376 2 4 ,,157 96,,624 3 6 2 ,,409 4 2 ,,880 55 56 57 58 59 60 61 - 2 0 5 ,209 14 ,356 - 2 1 9 ,155 -498 88 - 2 4 0 ,,616 7,, 9 6 4 - 2 4 9 ,,481 754 147 -179 -7 -173 1 ,734 ,776 ,604 ,510 136 - 2 1 1 ,362 - 1 8 ,591 - 1 9 5 ,, 0 5 2 2,, 0 6 5 216 - 2 1 5 ,259 - 2 1 ,,135 - 1 9 5 ,443 ,131 188 - 2 4 7 ,, 0 8 5 - 2 8 ,,211 - 2 2 0 ,,786 1,,728 184 62 63 64 65 66 62 63 64 65 66 Public sectors S t a t e 8 local g o v e r n m e n t s U.S. government Sponsored credit agencies Monetary authority (1) Lines Data are 2 0 + 2 6 + 3 1 . in millions of dollars. S e p t e m b e r 1991 Households Households Factors Annual Accounting for Change in Net Worth 61 Annual Flows Households, Personal Trusts, and Nonprofit Organizations 36,250 33,415 41,087 38,508 51,609 58,095 61,487 21,989 14,261 18,416 4,155 30,508 2,907 11,070 8,163 36,223 4,864 12,903 8,039 38,054 454 8,996 8,542 47,761 3,848 16,949 13,101 47,499 10,596 19,484 8,888 46,779 14,708 27,096 12,388 11,412 13,969 16,083 17,853 19,848 23,139 25,582 G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s - 8 9 11 12 13 14 15 16 17 18 2 3 4 5 Capital 6 consump. allow.,NIPA flow, basis 26 27 28 31 32 Data are 153 14,122 13,969 167 16,250 16,083 170 18,023 17,853 176 20,024 19,848 189 23,328 23,139 195 25,777 25,582 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 13,661 24,112 11,538 21,989 17,320 33,706 14,122 30,508 7,262 27,235 16,250 36,223 1,172 21,203 18,023 38,054 15,817 43,554 20,024 47,761 12,846 37,017 23,328 47,499 3,106 24,108 25,777 46,779 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 11 12 13 14 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 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 millions 1 2 , 6 8 3 + R e v a l . of c o r p o r a t e C h a n g e in v a l u e 14,136 -Net purchases 1 ,453 of 19 equities 20 21 22 8,614 9,309 695 23,541 2 4 ,218 677 20,804 22,630 1,112 -2,089 -1,113 976 5,062 5,062 5,403 5,403 5,299 5,299 5,576 5,576 6,148 6,148 6,294 6,294 7 7,663 7,656 + R e v a l . of l i f e i n s u r a n c e pension fund reserves C h a n g e in v a l u e -Net acquisitions 26,839 28,908 2,069 23,295 24,141 846 6,602 11,091 4,489 237 750 513 27,480 31,309 3,829 20,273 21,558 1,285 3,434 2,905 -529 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 26 27 28 + Other 29 -9,315 -8,143 1,172 -3,250 -2,138 1,826 -1 737 -24 58,896 103,170 57,655 721,868 158,915 in 7 126 11,538 11,412 + C h a n g e in t h e v a l u e land h o l d i n g s 23 24 25 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s Net investment Balance Sheet 10 Flows of 782,448 168,779 dollars. 822,018 188,150 854,563 187,941 957,733 207,475 1050,260 227,593 1107,915 239,795 = Change revaluations in net worth Memo: Net worth outstanding Disposable personal income 8 23 24 25 30 31 32 S e p t e m b e r 1991 Households Households 62 Annual Factors 6 - Change in Net Worth Annual G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s 2 3 4 5 for Flows 1953 1 Accounting 1954 1955 1956 Trusts, 1957 Households» Personal and Nonprofit 6 8 ,491 7 4 ,651 76 ,998 63 5 25 20 62 12 28 16 62 14 27 12 ,090 ,908 ,385 ,477 1958 Flows 1959 1960 76 ,065 79 ,937 8 2 ,012 1 5 9 ,154 16,,911 2 9 ,797 12,,886 6 9 ,394 10 ,543 33,,239 ,696 22 i 69 12 30 17 ,359 ,653 ,289 ,636 2 3 4 5 6 Organizations 6 2 ,- 1 4 5 5 8 ,136 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 5 1 ,>646 10,.499 2 3 ,,671 13,,172 51 6 18 12 Capital 2 7 ,,777 3 0 ,763 3 2 ,353 36 ,142 38 ,934 4 0 ,980 4 3 ,078 4 4 ,591 consump. = Net investment Balance Sheet allow.,NIPA flow, basis ,995 ,141 ,335 ,194 ,418 ,073 ,777 ,704 ,447 ,204 ,479 ,275 34,,368 2 7 ,373 36 ,138 3 8 ,509 38 ,064 35,,085 36 ,859 3 7 ,421 7 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 198 2 7 ,,975 2 7 ,,777 200 30 ,963 30 ,763 206 32 ,559 32 ,353 214 36 ,356 36 ,142 218 39 ,152 38 ,934 222 4 1 ,,202 4 0 ,- 9 8 0 229 4 3 ,307 43,,078 236 4 4 ,827 4 4 ,591 8 9 10 11 12 13 14 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis - 2 ,,068 2 1 ,,603 2 7 ,,975 5 1 ,,646 -259 2 0 ,773 3 0 ,963 5 1 ,995 2 33 32 63 ,987 ,846 ,559 ,418 8 34 36 62 ,344 ,435 ,356 ,447 -3 19 39 62 ,888 ,050 ,152 ,090 3,,423 2 1 ,,375 4 1 ,,202 5 9 ,,154 - 1 ,,147 2 4 ,,940 4 3 ,,307 69,,394 -3 20 44 69 ,952 ,580 ,827 ,359 11 12 13 14 15 16 17 18 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant £ equipment Consumer durables - 2 ,,068 -632 -170 - 1 ,,266 -259 2 ,651 -34 - 2 ,876 2 ,987 4 ,501 921 - 2 ,435 8 1 1 5 ,344 ,439 ,124 ,781 - 3 ,888 -419 122 - 3 ,591 3,,423 1.,659 -292 2,,056 - 1 ,,147 -418 -117 -612 - 3 ,952 - 1 ,067 -260 - 2 ,625 15 16 17 18 7 8 9 10 + C h a n g e in t h e v a l u e land holdings of 19 20 21 22 + R e v a l . of c o r p o r a t e C h a n g e in v a l u e -Net purchases equities 23 24 25 + R e v a l . of l i f e i n s u r a n c e pension fund reserves C h a n g e in v a l u e -Net acquisitions 26 27 28 + R e V a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . Other 29 30 = Change net are in millions of 4 ,514 9 ,173 3 ,641 3 ,865 4 ,190 10 ,114 19 5 0 ,161 51 ,274 1 ,113 16 , 7 8 0 18 , 7 9 4 2 ,014 - 3 9 ,163 - 3 7 ,705 1 ,458 104 ,177 1 0 5 ,929 1 ,752 2 8 ,114 2 8 ,680 566 - 6 ,513 - 6 ,534 -21 20 21 22 4 7 ,866 7,,862 53 7 ,877 7 ,824 2 ,265 10 , 7 9 7 8 ,532 5 9 ,514 9 ,509 -662 8 ,826 9 ,488 2 ,733 13 ,111 10 , 3 7 8 1 ,246 13 ,115 11 ,869 88 23 11 , 6 3 6 2 4 11 , 5 4 8 2 5 2,,443 2,,100 343 7 ,579 5 ,354 - 2 ,,225 13 , 3 1 4 10 ,896 - 2 ,,418 19,,261 17,,620 - 1 ,,641 14 , 3 8 3 13 , 2 5 6 - 1 ,127 15,,321 15,,396 75 11 ,273 7 ,796 - 3 ,477 8 ,247 2 6 5 ,409 2 7 - 2 ,,838 2 8 -1 1 1 1 412 2 8 ,,032 109,,913 109,,174 91,,859 12,, 1 5 7 1 6 4 ,-383 8 0 ,,718 4 5 ,181 30 1 1 3 5 ,,947 2 5 5 ,,105 1245 ,860 2 6 0 ,597 1 3 5 5 ,034 2 7 8 ,771 1446, 8 9 3 2 9 7 ,,542 1 4 5 9 ,- 0 5 0 3 1 3 ,,969 1623, 433 3 2 4 ,- 8 8 6 1 7 0 4 ,,151 3 4 4 ,,629 1 7 4 9 ,,332 3 5 8 ,,928 31 32 - worth Memo: 31 N e t w o r t h o u t s t a n d i n g 32 D i s p o s a b l e p e r s o n a l income Data 3 ,478 71 , 8 9 0 72 ,605 715 8 revaluations in 2,,540 - 9 ,057 - 8 ,015 1 ,042 dollars. - 12 2 9 S e p t e m b e r 1991 Households Households Factors Annual Accounting for Change in N e t 63 Worth Annual Flows Households, 1965 1964 1963 1961 Personal Trusts, and Nonprofit Flows 1966 Organizations 1 8 3 , 171 90, 7 9 9 96, 3 7 3 108,,506 119, 715 1 3 3 ,,380 140,,775 2 3 4 5 66, 145 17, 0 2 6 34,• 9 0 6 17,>880 72, 4 8 1 18, 3 1 8 39, 7 9 4 2 1 ,,476 79, 0 1 7 17,,356 4 6 ,.600 2 9 ,,244 8 5 ,,057 2 3 ,449 5 3 ,,070 29,,621 9 2 ,.321 2 7 ,.394 5 8 ,,277 3 0 ,,883 97,,436 35, 9 4 4 5 9 .422 2 3 ,,478 98, 2 6 9 4 2 ,,506 67,,739 2 5 ,,233 6 4 6 ,,264 4 7 ,,620 4 9 ,, 5 2 2 ,889 51 : 5 4 ,042 5 6 ,,961 61,,773 147, 029 113, 33, 68, 35, G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s 1 974 055 730 675 67, 6 1 9 - 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 Capital 6 consump. allow.,NIPA 7 36 ,907 4 3 ,179 4 6 ,,851 5 6 ,617 6 5 ,673 76 ,419 79 , 0 0 2 79, 4 1 0 Net investment Balance Sheet 8 9 10 244 4 6 ,508 4 6 ,264 256 4 7 ,876 47 ,620 270 4 9 ,792 4 9 ,522 286 5 2 ,175 51 ,889 308 5 4 ,350 5 4 ,042 337 5 7 ,298 5 6 ,961 361 62 ,134 61 , 7 7 3 393 68,• 0 1 2 67,,619 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 8 9 10 11 12 13 14 -1 18 46 66 -6 22 49 79 3 36 52 85 ,484 ,366 ,175 ,057 -3 34 54 92 ,613 ,358 ,350 ,321 17 57 57 97 ,797 ,935 ,298 ,436 14 50 62 98 ,025 ,160 ,134 ,269 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 11 12 13 14 15 16 17 18 - 1 ,596 -580 304 - 1 ,320 3 ,484 7 ,040 626 - 4 ,182 -3 2 1 -7 ,613 ,922 ,307 ,842 17 , 7 9 7 16 , 4 7 0 2 ,065 -738 14 9 1 3 ,025 ,538 ,023 ,464 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 15 16 17 18 ,596 ,041 ,508 ,145 -2 21 47 72 ,888 ,717 ,876 ,481 ,719 ,506 ,792 ,017 - 6 ,719 - 5 ,925 594 - 1 ,388 - 2 ,888 202 430 - 3 ,116 43, 4 3 7 8 9 ,,399 68, 0 1 2 113 9 7 4 43 35 3 4 ,437 ,525 ,832 ,080 flow, basis 7 C h a n g e in t h e v a l u e land h o l d i n g s of equities 19 -63,711 -1,430 78,007 76,420 -1,587 50,940 50,625 -315 72,393 70,766 -1,627 -59,999 —60,133 -134 147,814 144,521 -3,293 143,397 137,176 -6,221 R e v a l . of c o r p o r a t e C h a n g e in v a l u e -Net purchases 4,,201 16, 2 8 4 12, 0 8 3 -3, 274 9,,750 13,,024 3 ,926 17 , 8 0 0 13 , 8 7 4 4 ,064 2 0 ,445 16,,381 4 ,103 ,089 21 , 16 ,986 -5, 000 14,,327 19,,327 8,,396 2 7 ,,150 18,,754 6 ,590 2 6 ,,532 19,,942 R e v a l . of l i f e i n s u r a n c e pension fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 26 27 28 9,,696 9,,747 51 11,,441 11,,499 58 9 ,889 10 ,999 1 ,110 15,,928 15 , 1 2 2 -806 2 1 ,421 21 ,680 259 2 7 ,,771 2 7 ,,366 -405 17,,622 16,,542 - 1 ,,080 32,,544 2 9 ,, 5 7 7 - 2 ,,967 R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 26 27 28 29 -255 679 154 834 -19 10 128 -249 Other 29 76,,757 2 7 2 ,,061 3 1 7 ,870 2 4 1 0 ,213 5 2 5 ,910 2 6 8 2 ,274 5 6 2 ,092 3 0 0 0 ,144 609 ,582 104,282 105,346 1,064 -62,281 23 24 25 30 1 5 7 ,102 - 9 ,584 134 ,721 137 ,412 164 ,473 31 32 1906 ,434 3 7 3 ,774 1896 ,850 396 ,167 2 0 3 1 ,571 4 1 5 ,834 2 1 6 8 ,983 451 ,413 2 3 3 3 ,456 4 8 6 ,808 Data are in m i l l i o n s of dollars. Change revaluations in net worth Net worth o u t s t a n d i n g Disposable personal income 20 21 22 8 23 24 25 30 31 32 S e p t e m b e r 1991 Households Households Factors Annual Accounting 7 Net Worth Capital consump. - Net investment Balance Sheet allow.,NIPA flow, basis Personal Trusts, and Nonprofit Organizations 189,, 8 2 7 2 1 6 ,,116 2 6 3 ,412 2 4 0 ,,604 2 9 5 ,621 3 1 5 ,,240 1 ,405 ,501 ,408 ,907 , 140,,873 4 8 ,954 95,,463 4 6 ,,509 164,,170 5 1 ,946 118, 5 2 1 66,,575 183 80 151 71 ,396 ,016 ,561 ,545 180,,396 60,, 2 0 8 1 1 0 ,673 5 0 ,465 193 101 153 52 ,876 ,745 ,764 ,019 2 3 7 ,,517 77,,723 1 7 0 ,329 92 ,606 2 3 4 5 75 , 325 8 2 ,319 90,,201 97,, 3 7 7 106 ,567 120 ,828 1 3 7 ,106 151,,657 6 7 3 ,806 8 9 ,587 99 ,626 118,,739 156 ,845 119 ,776 1 5 8 ,515 1 6 3 ,583 7 444 7 5 ,769 75 ,325 469 8 2 ,788 8 2 ,319 505 90,,706 90,,201 548 97,,925 9 7 ,377 618 107 , 185 106 ,567 368 121 , 1 9 6 120 ,828 423 1 3 7 ,529 137 ,106 473 1 5 2 ,130 151 , 6 5 7 8 9 10 78 134 137 193 ,199 ,546 ,529 ,876 110 196 152 237 ,877 ,264 ,130 ,517 11 12 13 14 78 50 4 23 ,199 ,934 ,126 ,139 110 89 7 14 ,877 ,335 ,397 ,145 15 16 17 18 5 7 ,437 19 121 27 58 31 ,503 ,628 ,911 •, 2 8 3 119 52 74 21 8 9 10 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 11 12 13 14 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 36 81 75 121 ,179 ,913 ,769 ,503 27 63 82 119 ,030 ,647 ,788 ,405 43 93 90 140 ,790 ,957 ,706 ,873 47 113 97 164 ,731 ,976 ,925 ,170 86 162 107 183 ,209 ,420 ,185 ,396 145 .218 204 418 121 ,196 180 ,396 15 16 17 18 R e v a l u a t i o n by type of asset Residential structures Nonres. plant 8 equipment Consumer durables 36 28 4 3 ,179 ,461 ,428 ,290 27 13 4 8 ,030 ,864 ,368 ,798 43 41 6 -4 ,790 ,857 ,384 ,451 47 46 5 -3 ,731 ,296 ,274 ,839 86 74 7 4 ,209 ,411 ,190 ,608 145 86 14 43 + C h a n g e in t h e v a l u e land holdings of 19 20 21 22 + R e v a l . of c o r p o r a t e C h a n g e in v a l u e -Net purchases equities 23 24 25 + R e v a l . of l i f e i n s u r a n c e p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 26 27 28 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 29 • Other 30 = Change 31 32 Net w o r t h o u t s t a n d i n g Disposable personal income Data are in net worth millions of ,218 ,493 ,945 ,780 12 ,099 7 ,459 16 , 5 9 4 19 , 6 9 4 35 ,934 31 , 7 6 2 18 ,866 - 1 0 9 ,551 - 1 1 1 ,779 - 2 ,228 - 1 6 ,807 - 1 7 ,536 -729 108 ,132 103 ,814 - 4 ,318 96 ,207 8 7 ,403 - 8 ,804 - 2 0 6 ,854 - 2 1 1 ,113 - 4 ,259 - 2 1 3 ., 4 7 6 - 2 1 5 ,580 - 2 ,, 1 0 4 151 , 8 7 4 1 4 5 ,684 - 6 ,190 117,,447 2 0 116,,955 2 1 -492 2 2 — 6 i,084 15 ,753 21 ,837 2 ,201 26 ,390 2 4 ,189 15 ,451 4 3 ,428 2 7 ,977 ,841 11 , 60,, 2 9 2 4 8 ,451 - 2 5 ,868 14 , 0 1 8 3 9 ,886 - 2 9 ,243 14,, 4 6 6 4 3 ,,709 34 8 9 5 1 0 6 ,816 71 ,921 15,,572 2 3 72,,214 2 4 56,,642 2 5 3 0 ,128 2 4 ,073 - 6 ,055 23,, 5 9 0 19,, 1 8 2 - 4 ,408 4 5 ,511 43,,311 - 2 ,, 2 0 0 7 3 ,066 6 4 ,404 - 8 ,, 6 6 2 124 ,940 136 ,165 11 , 2 2 5 1 2 1 ,576 91,,316 - 3 0 ,, 2 6 0 102 ,124 8 2 ,817 - 1 9 ,307 154,,857 2 6 129,,091 2 7 - 2 5 ,,766 2 8 8 revaluations in Flows 171,,906 149,,131 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 - in Annual G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s 2 3 4 5 Change Flows Households, 1 for dollars. 762 29 956 - 1 ,, 5 1 7 - 2 ,,391 - 1 ,,293 - 5 ,184 3,, 4 7 7 3 ,237 37,,089 131,,074 3 2 6 ,,208 3 6 5 ,,437 165 ,404 178,, 7 2 2 5 4 7 ,287 620,,062 3 0 3037, 233 656, 6 8 7 3 1 6 8 ,307 7 1 5 ,,595 3 4 9 4 ,,515 7 7 6 ,, 7 8 4 3 8 5 9 ,952 8 3 9 ,596 4 0 2 5 ,356 9 4 9 ,,769 4 2 0 4 ,, 0 7 8 1 0 3 8 ,, 3 7 2 4 7 5 1 ,365 1 1 4 2 ,782 5 3 7 1 ,,427 31 1 2 5 2 ,,645 3 2 September 1991 Households Households Factors Annual Accounting for Change in Net 65 Worth Flows Annual 1980 Households, Personal Trusts, 1981 and Nonprofit 1 3 5 8 ,981 388 ,202 4 1 8 ,543 4 4 6 ,425 5 1 0 ,930 2 3 4 5 284 74 215 140 327 60 230 170 356 62 237 174 342 103 231 128 362 148 266 117 6 169 ,015 ,225 ,756 ,199 ,443 ,703 ,499 ,817 ,318 190 ,344 ,068 ,475 ,199 ,724 2 1 5 ,204 ,694 ,731 ,763 ,032 2 4 3 ,638 Flows ,050 ,880 ,606 ,726 2 6 4 ,363 Organizations 5 3 8 ,914 6 1 6 ,871 6 9 0 ,481 354 183 274 90 436 180 379 199 506 184 418 233 ,980 ,934 ,311 ,377 2 8 0 ,913 ,525 ,346 ,409 ,063 2 9 5 ,297 G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s ,184 ,297 ,008 ,711 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 309 ,394 - Capital consump. = Net investment Balance Sheet allow.,NIPA flow, basis 7 189 ,966 197 ,858 2 0 3 ,339 2 0 2 ,787 2 4 6 ,567 2 5 8 ,001 321 ,574 381 ,087 8 9 10 548 169 ,563 169 ,015 644 190 ,988 190 ,344 773 2 1 5 ,977 2 1 5 ,204 909 2 4 4 ,547 2 4 3 ,638 1 ,030 2 6 5 ,393 2 6 4 ,363 1 ,113 2 8 2 ,026 2 8 0 ,913 1 ,160 2 9 6 ,457 2 9 5 ,297 1 ,242 3 1 0 ,636 309 ,394 11 12 13 14 164 278 169 284 ,050 ,712 ,563 ,225 220 357 190 327 ,464 ,179 ,988 ,703 184 324 215 356 ,774 ,865 ,977 ,068 188 287 244 342 ,930 ,077 ,547 ,694 162 258 265 362 ,094 ,751 ,393 ,050 -67 5 282 354 ,382 ,572 ,026 ,980 113 253 296 436 ,532 ,600 ,457 ,525 28 224 310 506 ,590 ,138 ,636 ,184 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 15 16 17 18 164 134 10 19 ,050 ,076 ,536 ,438 220 159 24 36 ,464 ,383 ,899 ,182 184 ,774 126 ,907 7 ,029 5 0 ,, 8 3 8 188 108 17 62 ,930 ,864 ,308 ,758 1 6 2 :,094 1 0 5 ,579 17 ,376 39,,139 -67 -78 3 7 ,382 ,854 ,504 ,968 113 98 12 2 ,532 ,394 ,646 ,492 2 8 ,590 38 ,604 9 ,703 - 1 9 ,, 7 1 7 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 5 5 ,,905 + C h a n g e in t h e v a l u e land holdings of 92,,209 equities Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 19 8 2 ,172 1 0 5 ,596 1 0 3 ,,709 8 2 ,,159 1 2 4 ,,350 20 21 22 - 3 8 ,146 - 4 5 491 -7 ,345 8 ,652 - 3 ,,872 - 1 2 ,,524 1 7 7 ,,474 1 5 2 ,,001 - 2 5 ,,473 318, 801 307, 5 5 6 - 1 1 ,,245 - 2 1 ,,845 -59, 514 - 3 7 ,,669 151 ,889 136 • 063 - 1 5 ,,826 183,,904 180,,926 - 2 ,,978 76, 0 1 6 18, 1 6 4 -57, 852 + R e v a l . of c o r p o r a t e C h a n g e in v a l u e -Net purchases 23 24 25 - 1 6 ,, 1 8 5 62,, 3 7 5 78,,560 17,- 3 5 4 112,,376 95,,022 14,,423 116; 2 5 7 101, 8 3 4 40, 2 2 5 158, 728 118, 5 0 3 -27, 833 90, 0 7 8 1 1 7 ,,911 4 1 ,,403 189,,449 148,,046 61, 6 8 2 2 2 0 ,,855 159,,173 -12, 555 145, 102 157, 6 5 7 + R e v a l . of l i f e i n s u r a n c e pension fund reserves C h a n g e in v a l u e -Net acquisitions 26 27 28 176, 0 2 1 155, 7 9 5 -20, 226 2 7 8 ,,334 246, 4 0 7 -31, 927 327, 2 2 6 262, 005 - 6 5 ,,221 329, 5 4 5 252, 688 -76, 857 2 7 2 ,,329 2 2 3 ,,969 -48, 360 6 2 ,980 - 2 8 ,403 - 9 1 ,,383 148,,480 68 8 4 6 - 7 9 ,,634 57, 2 2 3 -29, 295 -86, 518 + R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 5 ,151 29 ,466 -1 : 7,.474 496 2, 5 5 6 - 5 ,,021 5 ,810 2 6 ,,335 -4, 188 30 555, 8 6 4 835, 088 1009, 676 1164, 094 7 4 9 ,,611 4 5 6 ,,739 9 4 6 ,,556 580, 8 3 6 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 11669,891 2668,600 Data are in m i l l i o n s of dollars. Other = Change 11 12 13 8 23 24 25 26 27 28 revaluations in net worth Net°worth outstanding Disposable personal income 31 32 S e p t e m b e r 1991 Households Households Factors Annual Accounting for Change in Net Worth Flows Annual 1985 1986 1987 Households, G r o s s i n v e s t m e n t of household sector, from F l o w of F u n d s A c c o u n t s Personal 1988 Trusts, 1989 and Nonprofit Flows 1990 Organizations 6 7 5 ,607 7 6 6 ,598 735 ,583 8 5 4 ,075 8 7 5 ,774 8 8 2 ,376 1 2 3 4 5 Capital expenditures Net financial investment Net a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 548 126 433 306 603 162 465 302 645 89 381 291 700 153 475 322 ,791 ,284 ,801 ,517 731 ,889 143 ,885 4 3 5 ,080 2 9 1 ,, 1 9 5 722 160 419 259 ,085 ,291 ,434 ,143 2 3 4 5 6 - Capital 3 3 2 ,303 3 6 1 ,699 3 9 0 ,118 4 1 2 ,092 4 3 2 ,761 4 5 0 ,735 6 1 consump. = Net investment Balance Sheet allow.,NIPA flow, basis ,885 ,722 ,355 ,633 ,777 ,821 ,655 ,834 ,659 ,924 ,269 ,345 3 4 3 ,304 4 0 4 ,899 345 ,465 4 4 1 ,983 4 4 3 ,013 4 3 1 ,641 7 8 9 10 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 6 ,100 3 3 8 ,403 3 3 2 ,303 468 362 ,167 3 6 1 ,699 965 391 ,083 3 9 0 ,118 10 , 5 2 7 4 2 2 ,619 4 1 2 ,092 2 2 ,430 4 5 5 ,191 4 3 2 ,761 34 ,112 4 8 4 ,847 4 5 0 ,735 8 9 10 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 32 242 338 548 ,159 ,641 ,403 ,885 73 315 362 603 ,622 ,232 ,167 ,777 170 424 391 645 ,016 ,592 ,083 ,659 40 318 422 700 ,810 ,982 ,619 ,791 115 ,308 3 9 2 ,006 4 5 5 ,191 7 3 1 ,,889 -75 161 484 722 ,753 ,485 ,847 ,085 11 12 13 14 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Consumer durables 32 27 5 -1 ,159 ,798 ,491 ,130 73 55 7 10 ,622 ,977 ,131 ,514 170 150 10 8 ,016 ,343 ,778 ,895 40 20 7 12 ,810 ,287 ,714 ,809 115 95 15 3 ,308 ,932 ,712 ,664 -75 -68 3 -10 ,753 ,531 ,377 ,599 15 16 17 18 7 11 12 13 14 15 16 17 18 19 20 21 22 + C h a n g e in the v a l u e land holdings of • R e v a l . of c o r p o r a t e C h a n g e in v a l u e -Net purchases equities • R e v a l . of l i f e i n s u r a n c e pension fund r e s e r v e s C h a n g e in v a l u e -Net acquisitions 23 24 25 26 27 28 • + Other 30 = Change revaluations in net worth 31 N e t w o r t h o u t s t a n d i n g 32 D i s p o s a b l e p e r s o n a l income Data are in millions of 122 ,150 119 ,912 71 ,096 105 ,877 - 1 4 2 ,780 19 2 9 9 ,094 314 ,107 15 ,013 - 7 0 ,202 - 1 0 4 ,271 - 3 4 ,069 2 5 3 ,214 135 ,073 - 1 1 8 ,141 4 7 0 ,141 3 8 2 ,136 - 8 8 ,005 - 2 7 6 ,199 - 2 8 5 ,436 - 9 ,237 20 21 22 93 ,854 2 8 0 ,574 186 ,720 77 ,777 2 4 7 ,456 1 6 9 ,679 32 ,258 1 9 6 ,131 163 ,873 99 ,546 3 0 5 ,837 2 0 6 ,291 2 1 7 ,070 391 ,797 174,, 7 2 7 - 1 0 1 ,247 97 ,117 198 ,364 23 24 25 6 2 ,619 - 2 6 ,543 - 8 9 ,162 99 ,527 5 2 ,572 - 4 6 ,955 2 0 7 ,643 116 ,590 - 9 1 ,, 0 5 3 1 5 4 i,250 77,,799 - 7 6 ,,451 2 2 6 ,, 2 6 4 140,, 7 9 0 - 8 5 ,,474 70,, 1 5 0 1,, 2 0 7 - 6 8 ,,943 26 27 28 8 R e v a l . of n o n c o r p . e q u i t y C h a n g e in v a l u e - N e t i n v . in n o n c o r p . b u s . 29 5 0 ,237 4 8 5 ,893 4 4 8 ,198 - 3 7 ,695 dollars. - 5 ,311 - 6 ,725 36,, 3 9 6 2 8 ,,286 2 0 ,, 2 7 2 - 5 2 ,, 3 4 4 29 1 0 5 6 ,655 1 0 6 9 ,876 8 4 0 ,523 1 0 7 8 ,,658 1 5 7 5 ,,515 - 1 8 0 ,,644 30 1 2 7 2 6 ,546 2 8 3 8 ,700 1 3 7 9 6 ,422 3 0 1 3 ,325 1 4 6 3 6 ,945 3 1 9 4 ,750 1 7 2 9 1 ,,118 3 7 2 5 ,,550 1 7 1 1 0 ,,474 3 9 4 6 ,,100 31 32 1 5 7 1 5 ,,603 3 4 7 9 ,, 2 2 4 S e p t e m b e r 1991 Farm 8 Noncorporate Business Farm Factors Annual Accounting for Change in N e t 8 Noncorporate Business 67 Worth Flows Annual Farm Business 1 1 ,277 1 ,550 1 ,858 2,092 2 ,338 2 ,670 2,894 2 3 4 5 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 6 2 ,380 547 3 ,277 560 1 ,663 1 ,644 -271 7 1 ,212 1 ,500 1 ,817 2,069 2 ,305 2 ,671 2,925 8 2 ,445 597 3 ,318 583 1 ,696 1 ,643 -302 9 10 11 54 1 ,266 1 ,212 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 3,030 2,925 12 13 14 15 8 ,271 9,, 2 2 5 1,,266 2 i ,220 6 ,301 6 ,347 1,, 5 6 5 1,,611 -2 1 1 6 ,192 ,959 ,891 ,042 — 1,651 -139 2,150 3,662 6 ,514 9,,431 ,392 2 • 5,,309 ,795 2 ! 5 ,804 2,,769 5,,778 -565 -24 3,030 3,571 16 17 18 19 8,,271 1,,567 1,,239 5,,465 6,,301 1 ,725 1,, 4 1 7 3,,159 - 2 ,,192 629 645 - 3 ,,466 -1,651 187 -64 -1,774 6 1,514 780 756 4 i,978 2,,795 614 911 1,,270 -565 29 1,929 -2,523 20 5,,073 1,, 3 3 7 802 -1,799 11,,914 7,,859 481 21 " 22 15, 7 3 5 8, 170 23 92, 4 7 3 100, 643 Nonfarm - - - - -2,948 20, 037 12, 1 9 9 -491 102, 4 9 7 99,549 119, 586 131, 785 131,294 Noncorporate 4,454 4,716 4,999 5,695 4,044 -917 1,309 4,997 -1,098 6,729 -2,275 358 2,633 4,546 170 764 594 8,358 -3,359 1,773 5,132 6,080 1,101 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 Net investment Balance Sheet 8 flow. basis Depreciation valuation adj. Depreciation charges - C a p . consump. allow., NIPA 9 10 11 12 C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 13 14 15 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 C h a n g e in the v a l u e land h o l d i n g s of 20 21 22 Business 3,899 2,199 i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s - 854 *• 3,127 2,226 Gross farm Flow • - Flows -385 398 783 G r o s s i n v e s t m e n t of noncorporate business 6,009 f r o m F l o w of F u n d s 6,460 -451 1,093 1,544 nonfarm sector, Accounts Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 1 2 3 4 5 -311 299 1,212 -47 2,166 -359 3,127 3,899 4,454 4,716 4,999 5,695 8 -311 299 1,212 -47 2,166 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 5,708 6,009 - Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 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 1,862 5,708 6,460 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in value Depreciation charges - G r o s s 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 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 20 2,937 3,288 2,436 2,341 21 -865 1 -82 1 22 13,456 16,095 9,262 3,495 -258 -258 are in millions of dollars. Capital net investment consump.allow., = Net investment Balance Sheet • 180,655 Data + Proprietors' 6,009 - flow, basis C h a n g e in t h e v a l u e land holdings • Other revaluations = Change Memo: Net worth in net NIPA worth outstanding 6 7 8 of 20 21 22 S e p t e m b e r 1991 Farm 8 Noncorporate Farm Business 68 Annual Factors Accounting for Change in N e t Gross farm Flow 6 i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s + Proprietors' 7 - Capital Business Annual 1956 1955 1954 Farm 2 3 4 5 Noncorporate Flows 1953 1 8 Worth net investment consump.allow.» = Net investment Balance Sheet NIPA flow. basis 1957 Flows 1958 1959 1960 Business 3, 031 3, 1 7 9 3, 2 6 7 3, 4 4 2 3, 5 4 8 3,627 3,695 3,705 1, 4 4 5 1, 5 8 6 -23 - 1 , 609 2, 4 4 2 737 -27 764 2, 351 916 108 808 3, 3 0 4 138 •121 259 2, 5 0 8 1, 0 4 0 -33 -1, 073 4,126 -499 366 865 3,713 -18 -602 -584 3,548 157 -336 -493 -1, 292 -1, 637 -21 431 - 1 , 183 -2, 365 -939 -2,939 -1,683 3, 0 8 2 3, 1 9 2 3,,300 3, 4 8 5 3,,599 3,659 3,732 3,740 - 1 , 343 -1. 650 - 2 ,,464 -1, 226 - 2 ,,416 -971 -2,976 -1,718 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 112 3, 1 9 4 3, 0 8 2 118 3, 3 1 0 3, 1 9 2 125 3,,425 3,,300 139 3, 6 2 4 3, 4 8 5 147 3,,746 3,,599 157 3,816 3,659 168 3,900 3,732 176 3,916 3,740 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 1 =0 8 7 -662 3,,194 1 =4 4 5 564 304 3 ! ,310 2,,442 1 ,211 137 3,,425 2,,351 1,,532 1, 2 1 2 3, 6 2 4 3,,304 2,,858 1, 6 2 0 3,,746 2,,508 1,413 1 ,723 3,816 4,126 252 65 3,900 3,713 1,524 1,156 3,916 3,548 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 1 ,087 = -197 1 =9 6 8 -684 564 24 1,,831 ,291 -1, 1 ,211 219 2 ,507 , - 1 , 515 1,,532 -9 li 0 8 5 456 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 8 9 10 11 20 + C h a n g e in t h e v a l u e land holdings 21 + Other 22 = Change 23 Memo: Net worth of revaluations - - " - - - 1 ,,754 2,,021 3 ,184 7,,093 6 ,768 9,240 3,654 941 outstanding 1291,540 1 3 1 ,561 134 ,745 141,,838 1 4 8 ,606 157,846 161,500 162,441 net G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m F l o w of F u n d s A c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 - worth in Nonfarm 1 - - Noncorporate Business 6 ,255 6 ,462 6 ,778 7 ,355 7 ,784 7,986 8,226 8,469 7 ,842 ,587 662 2 ,249 7 ,812 - 1 ,350 667 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 NIPA 6 ,255 6 ,462 6 ,778 7 ,355 7 ,784 7,986 8,226 8,469 949 -588 13 -458 1 ,238 1,014 -538 -1,155 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 -413 8,056 8,469 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 185 2 ,083 5 ,944 7 ,842 788 2 ,458 6 ,142 7 ,812 4 7 6 9 6 6 7 7 1 3 7 9 ,459 ,593 ,415 ,549 1,740 2,863 7,606 8,729 1,056 4,116 7,830 10,890 649 2,679 8,056 10,086 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 185 ,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 ,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 ,6x6 3 ,831 3,505 3,590 4,895 -2 1 -1 -2 1 3 worth 3 ,910 3 ,531 7 ,941 10 ,929 6 ,895 6,640 4,507 4,802 outstanding 184 ,565 188 ,096 196 ,037 2 0 6 ,966 2 1 3 ,861 220,501 225,008 229,810 6 + Proprietors' 7 - 8 Capital net = Net investment Balance Sheet 9 10 11 investment consump.allow.flow, basis 20 + C h a n g e in the v a l u e land h o l d i n g s 21 + Other 22 = Change 23 Memo: Net worth Data are net in m i l l i o n s of ,419 ,599 ,003 ,183 of revaluations in ,253 ,332 ,447 ,526 dollars. - - S e p t e m b e r 1991 Farm 8 Noncorporate Farm Business Factors Annual Accounting for Change in Net & Noncorporate Annual Flows 1964 1963 1962 1961 Farm 1968 1967 4, 370 4, 092 4,593 7,046 -2,453 363 2,816 907 3,985 -102 392 494 6, 4 5 8 - 2 , 366 280 2, 646 5, 8 9 7 -1, 527 207 1, 7 3 4 -2,505 -2,295 - 1 , 201 -1. 866 -287 3,807 3,893 4, 0 4 6 4 i2 8 8 4,552 2 3 4 5 3, 7 1 1 -6 85 91 4,168 -407 134 541 4,637 -947 6 -1, 608 -1,763 3, 7 3 4 3,762 7 1966 1965 Flows Business 3,883 3,690 3,761 3, 7 0 5 1 Business 69 Worth 4. 8 9 5 Gross farm Flow Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6, 3 5 1 -1, 456 579 .035 2 i 242 + Proprietors' 4,,852 - 285 i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s Capital net investment consump.allow.» = Net investment Balance Sheet NIPA flow. basis 1 2 3 4 5 6 7 8 -1,764 -2,622 -2,305 - 1 , 155 -1: 7 8 4 -246 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 !2 7 3 4 »046 245 4,,533 4 ,288 265 4,817 4,552 288 5 , 140 4 ,852 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 9 10 11 12 13 14 15 1 ,027 821 3 ,917 3 ,711 1,884 2,098 3,954 4,168 710 1,337 4,010 4,637 475 355 4,105 3,985 3 5 4 6 1 3 4 5 ,660 ,024 ,533 ,897 1,272 3,501 4,817 7,046 4 5 5 6 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 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 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 20 5 ,723 5,184 7,887 8,141 11 , 0 6 5 7 ,985 9,289 6 ,139 C h a n g e in t h e v a l u e land h o l d i n g s 20 8 - 1 : 637 21 - - - - - - 22 4 ,930 5,112 5,772 6,099 23 1 6 7 ,371 172,483 178,255 184,354 Nonfarm ,571 ,756 ,273 ,458 ,780 ,991 ,140 ,351 - - 13 , 2 5 4 7 ,616 10,050 10 , 9 1 6 197 ,608 2 0 5 ,224 215,274 2 2 6 ,190 Noncorporate Other revaluations Change in net Business 8,635 8,864 9,155 9,569 10,101 10,850 11,614 G r o s s i n v e s t m e n t of noncorporate business 12,583 f r o m F l o w of F u n d s 2 3 4 5 n,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 17,351 -7,250 367 7,617 16,254 -5,404 869 6,273 17,243 -5,629 918 6,547 18,622 -6,039 -705 5,334 -3,209 6 1,659 1,821 3,615 1,489 1,460 1,461 -793 7 8,635 8,864 9,155 9,569 10,101 10,850 11,614 + Proprietors' 12,583 - 1,659 1,821 3,615 1,489 1,460 1,461 -793 -430 8,205 8,635 -448 8,416 8,864 -475 8,680 9,155 -499 9,070 9,569 -537 9,564 10,101 -583 10,267 10,850 -629 10,985 11,614 -684 11,899 12,583 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 3,294 11,081 9,564 17,351 9,806 15,793 10,267 16,254 5,098 11,356 10,985 17,243 16 17 18 19 -461 1-492 -359 -1,594 1,091 1,005 -120 206 -1,853 -954 252 -1,151 3,310 3,007 993 -690 3,294 1,638 1,682 -26 9,806 6,729 2,961 116 20 3,663 ?,514 3,507 4,218 3,968 8,443 -l 2 1 9 17,149 12,398 4,604 147 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 2,252 4,858 8 Change land + Other 9,258 20,284 7,194 19,482 23 235,101 241,974 247,720 257,237 266,495 286,779 293,973 313,455 8 5,098 3,741 2,234 -877 9,517 dollars. 7 12 13 14 15 5,746 of flow, basis 6 • R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 6,873 in m i l l i o n s NIPA 17,149 23,872 11,899 18,622 5,291 are investment 9 10 11 22 Data net consump.allow., 1 2 3 4 5 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA • - Capital = Net investment -3,209 Balance Sheet 9 10 11 1 nonfarm sector. Accounts Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 8 - 21 worth 1 21 of in value of 20 revaluations 21 = Change Net the holdings worth in net worth 22 outstanding 23 S e p t e m b e r 1991 Farm 8 Noncorporate Farm Business 70 Annual Factors Accounting for Change in Net 8 Noncorporate Worth Annual Flows Gross farm Flow 2 3 4 5 i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s 5,312 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6,780 -1,468 536 2,004 5,639 7,387 -1,748 604 2,352 5, 957 9, 141 - 3 , 184 691 3, 8 7 5 Flows 1976 1972 Farm 1 Business Business 6, 7 7 7 7, 8 2 7 8, 530 10,336 11, 2 1 5 1 2 3 4 5 9, 2 7 6 -2, 499 936 3, 4 3 5 14, 0 8 2 — 6, 2 5 5 843 7,.098 11 ,2 1 1 - 2 , 681 594 3, 2 7 5 16,904 -6,568 997 7,565 13, 5 7 0 - 2 , 355 1 ,426 , 3 1.781 - 2 ,- 3 6 5 -653 107 978 .837 -1 , -4, 871 - 1 ,700 - 7 ,,028 6 NIPA 5,251 5,631 5, 9 4 2 6,,605 7,,228 8 ,,308 9,789 10,,771 7 115 -963 - 2 ,,193 - 1 ,,238 - 4 ,649 -1,153 - 6 ,,584 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 320 5,571 5,251 349 5,980 5,631 373 6,,315 5,,942 421 7 ,026 b ,605 549 8 ,857 8 ,308 672 10,461 9,789 768 11 ,539 10 ,771 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 6,579 7,788 5,571 6,780 2,123 3,530 5,980 7,387 7,,404 10 > 2 3 0 6,,315 9,,141 13 15 7 9 ,693 ,943 ,026 ,276 24 31 7 14 ,697 ,084 : ,695 ,082 14 17 8 11 ,828 • 182 ,857 ,211 5,662 12,105 10,461 16,904 7 9 11 13 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 6,579 1,353 2,625 2,601 2,123 744 2,085 -706 ,404 ,666 ,836 ,902 13 1 3 8 ,693 ,698 ,957 ,038 24 2 4 17 ,697 ,791 ,113 ,793 14 3 12 -1 ,828 ,496 ,820 ,488 2,672 4,584 11 , 9 0 4 2 3 ,859 5 4 ,433 -358 728 8 215 worth 6,115 18 , 7 0 0 34 ,946 outstanding 240,644 2 5 9 ,344 2 9 4 ,290 6 + Proprietors' 7 - Capital net consump.allow., = Net investment Balance Sheet 8 9 10 11 20 21 investment flow, basis + C h a n g e in t h e v a l u e land h o l d i n g s + Other of revaluations 22 = Change in 23 Memo: Net w o r t h net 7 1 2 2 Nonfarm 1 G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m F l o w of F u n d s A c c o u n t s 2 3 4 5 6 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s + Proprietors' 7 - Capital net investment consump.allow., = Net investment Balance Sheet NIPA flow, basis 13, 8 3 1 14 ,9 7 1 16, 4 2 6 Noncorporate 17, 989 77 467 ,695 ,228 li ,692 ,723 ,539 ,570 i2 13 14 15 5,662 2,021 5,141 - 1 ,500 7 ,692 3 ,210 7 ,035 ,553 16 17 IB 19 29 ,805 46,326 71 ,001 20 14 -11 -37 21 77 ,640 39 , 4 4 9 50,152 71 , 3 0 4 22 371 ,930 411 ,379 461,531 5 3 2 .835 22, 677 2 6 , 107 28,514 1 27,350 1,164 8,812 7,648 2 3 4 5 Business 19, 965 169 743 169 912 39, 139 - 2 1 , 150 6, 4 8 4 27, 634 42, 492 -22, 527 6, 2 8 7 28, 814 32, 931 - 1 0 , 254 4, 799 15, 053 25, 609 498 1 ,8 8 3 1 ,3 8 5 -4, 515 - 1 ,2 2 2 -6, 297 12, 112 - 2 6 , 145 - 1 8 , 036 -18,546 6 13,.831 14,.971 16,.426 17,.989 19, 9 6 5 22, 677 26, 107 28,514 7 ,222 - 6 ,,297 12,.112 - 2 6 , 145 - 1 8 , 036 -880 15,,546 16,,426 -967 17 , 0 2 2 17 ,989 - 1 ,,087 18 ,878 19,,965 918 21, 759 677 - 1 ,.093 2 5 ,,014 26,,107 - 1 ,243 27,271 28,514 10 li 30 54 18 42 ,604 ,218 ,878 ,492 5 3 ,,028 64 ,200 2 1 ,759 3 2 ,931 29 30 25 25 ,771 ,366 ,014 ,609 46,907 46,986 27,271 27,350 12 13 14 15 30 ,604 20 ,633 9 ,101 870 53 ,028 2 7 ,683 24 ,479 866 29 21 10 -2 ,771 ,928 ,787 ,944 46,907 34,328 16 17 579 19 20 2 2 ,9 0 1 - 9 , 070 1, 5 2 3 10, 5 9 3 23, 695 - 8 , 724 1 ,3 1 9 10, 0 4 3 - 5 ,.402 30, -13, 7, 20, - 5 ,402 — 4 !,515 Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA -765 13 ,066 13 ,831 -817 14 , 1 5 4 14 ,971 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 15 , 4 7 3 2 5 ,308 13 ,066 ,901 11 20 14 23 16 17 18 19 R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 15 , 4 7 3 10 , 7 4 9 4 ,927 -203 11 , 3 1 0 5 ,207 5 ,665 438 19 , 6 8 2 11 , 0 1 8 6 ,852 1 ,812 17 ,880 11 , 5 1 2 5 ,525 843 5 ,626 4 ,058 6 ,912 18 ,766 2 5 ,841 26 ,233 2 3 ,638 33,957 -607 -12 - 7 ,850 1 -36 -8 21 61 , 7 9 4 54 ,035 36 ,430 63,553 22 4 6 2 ,206 5 1 6 ,241 5 5 2 ,671 8 9 10 11 • 20 21 C h a n g e in t h e v a l u e land h o l d i n g s + Other 22 = Change 23 Net Data in -7 revaluations ,682 ,305 ,546 ,169 17 39 17 39 ,880 ,997 ,022 ,139 worth 16 , 4 5 5 13 , 5 5 3 25 ,645 outstanding 329 ,910 343 ,463 369 ,108 4 0 0 ,412 net millions 1 ,883 19 34 15 30 31 , 3 0 4 in worth are of ,310 ,851 , 154 ,695 of dollars. 12,000 18 S e p t e m b e r 1991 Farm & Noncorporate Farm Business Factors Annual Accounting for Change in N e t Noncorporate Annual 18. 058 19, 5 8 6 2 0 ,,952 22, 978 23, 168 14, 3, 1, -1, 138 920 973 947 24, 116 -4, 530 1, 8 5 4 6, 3 8 4 13,,805 7,,147 1,,806 - 5 ,,341 4, 146 18, 8 3 2 1, 2 6 7 - 1 7 ,.565 20, 102 3, 0 6 6 239 -2, 827 Gross farm Flow 1 12, 3 9 0 14, 4 5 9 2 3 4 5 19, 0 8 8 -6, 698 1, 8 1 4 8 ,,512 2 0 ,,870 - 6 ,-411 2,,067 8 ,,478 26, 235 -9, 977 2, 0 7 2 12, 0 4 9 6 - 6 ,,129 - 9 ,393 - 1 2 , 621 -18, 728 -10, 797 - 1 2 ,,400 - 2 0 ,.734 - 1 ,,308 7 12,,099 13 , 5 5 7 15,,343 17, 5 9 1 19,,363 2 0 ,455 2 2 ,,400 2 2 ,.500 8 - 5 ,838 - 8 ,491 - 1 1 .,706 - 1 8 ,,261 - 1 0 ,,574 - 1 1 ,903 - 2 0 ,,156 -640 1,,193 16,,536 15,,343 1,,399 18,,990 17,,591 1,,570 2 0 ,,933 19,,363 1 ,680 2 2 ,135 2 0 ,455 106 2 2 ,,506 22, 4 0 0 100 2 2 ,,600 2 2 ,,500 2 2 ,,820 4 ,460 2 2 ,,506 4,,146 1 ,027 14 , 5 8 4 13 , 5 5 7 9 10 11 891 12 , 9 9 0 12 ,099 12 13 14 15 10 17 12 19 ,969 ,067 ,990 ,088 33 39 14 20 .290 ,576 ,584 ,870 18 27 16 26 ,034 ,733 ,536 ,235 31,,021 26 -169 18 , 9 9 0 14,, 1 3 8 11,,553 14,,736 2 0 ,933 2 4 ,,116 5 ,441 ,889 2 2 ,135 13 , 8 0 5 16 17 18 19 10 4 8 -1 ,969 ,600 ,350 ,981 33 5 15 12 ,290 ,546 ,474 ,270 18 5 10 1 ,034 ,363 ,716 ,955 31 4 16 9 11 4 15 -8 ,553 ,549 ,702 ,698 5 ,441 -540 6 ,837 856 20 45 ,536 - 1 0 ,358 - 3 9 ,077 - 4 ,071 1 8 0 ,816 - -21 - : ,021 ,846 ,447 ,728 68 ,589 101 , 6 8 7 - 22 3 12 7 ,820 , 156 ,072 ,592 3 ,193 4 ,548 2,,206 7 ,997 - 5 ,655 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 16 17 18 19 C h a n g e in t h e v a l u e land h o l d i n g s 20 - 9 9 ,009 22 5 ,751 - 9 5 ,139 23 5 8 2 ,611 6 8 7 ,199 794 ,000 8 7 3 ,950 8 5 8 ,930 8 1 1 ,712 8 1 7 .463 722 ,324 63,,767 64,,181 4 9 ,,850 5 7 ,.359 ,212 ,445 ,589 ,034 68,,454 - 4 ,,273 3 2 ,786 3 7 ,059 - 3 8 ,064 - 8 0 ,311 - 5 9 ,,774 5 7 ,359 63 ,767 6 4 ,181 4 4 ,,312 - 1 ,,377 2 1 ,,659 2 3 ,,036 4 6 ,,594 3,,256 8 ,888 5 ,632 71,,518 - 1 4 ,,159 4 ,398 18,, 5 5 7 - 1 3 ,865 - 2 2 ,796 - 5 3 ,,321 - 5 8 ,845 31 ,945 36 , 5 6 4 4 2 ,, 9 3 5 49 ,850 39,,282 - 7 ,,337 16 ,363 2 3 ,700 6 7 47 -10 20 31 65 -1 5 7 81 -14 47 62 ,674 ,291 ,977 ,268 - 8 6 ,850 - 8 6 ,,850 - 5 3 , 321 - 5 8 ,,845 - 3 8 ,,064 - 8 0 , 311 - 5 9 ,.774 ,673 -1 , 34,,891 36,,564 ,967 -1 , 40, 968 4 2 ,,935 - 2 ,,308 4 7 ,,542 4 9 ,,850 ,603 54 756 5 7 ,,359 —2, 782 60, 9 8 5 63,,767 - 1 ,,259 62,,922 64,,181 ,321 -1 , 66,,062 67,,383 12 13 14 15 65,,559 74 ,336 3 0 ,505 39 ,282 ,813 ,288 ,891 ,366 122,,083 125,, 4 2 7 4 0 ,,968 4 4 ,, 3 1 2 132,,033 131,,085 4 7 ,542 46,,594 1 2 0 ,,074 136,,836 5 4 ,,756 71,,518 36,,309 4 0 ,• 5 3 6 60, 9 8 5 65,,212 5 2 ,,292 5 7 ,824 62,,922 68,,454 66,,966 8 2 ,578 66 ,062 8 1 ,674 16 17 18 19 65 50 16 -1 ,559 ,760 ,205 ,406 96 ,813 66 ,515 30 ,478 -180 122,,083 98,,859 19,,191 4,, 0 3 3 132 98 31 2 ,033 ,270 ,524 ,239 120,, 0 7 4 92,, 2 2 4 3 4 ,925 - 7 ,075 36,,309 2 2 ,,788 11,,972 1,,549 5 2 ,292 4 8 ,284 3 ,361 647 66 62 10 -6 20 5 7 ,013 73 ,228 91,, 9 4 7 102 ,P?7 1 1 3 ,136 5 5 ,,942 69 ,190 75 ,592 ,966 ,551 ,525 ,110 21 311 4 0 ,000 -1 -2 -4 22 110 ,458 148 .918 162 ,675 178 ,373 2 3 7 ,749 14,,721 62 .965 5 7 ,025 23 726 .682 8 7 5 .600 1 0 3 8 ,275 1216 ,648 1 4 5 4 ,397 1 4 6 9 ,,118 1 5 3 2 ,083 in m i l l i o n s of dollars. Capital sector, Accounts net investment consump.allow., Net investment Balance Sheet - 2 2 ,,796 are worth business of F u n d s + Proprietors' 6 7 ,383 - - 1 ,,440 3 0 ,505 31,,945 - net Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s - 1 3 ,,865 -1 in noncorporate from Flow 67,,383 9 10 11 - 21 revaluations Change 8 96 109 34 47 of Business ,366 ,802 ,669 ,471 2 3 4 5 Other 62 - - 4 7 ,218 4 2 ,,935 8 12 13 14 15 - 1 5 ,020 36,,564 flow, basis + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 79 , 9 5 0 31,,945 = Net investment Balance Sheet 4,,548 2,,050 ,600 2 0 ,, 1 0 2 1 0 6 ,801 1 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 9 10 11 104 ,588 Noncorporate i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA 49 ,776 Nonfarm Flows Business 16, 2 5 8 21 Business 71 Flows Farm Data 8 Worth NIPA flow, basis Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis R e v a l u a t i o n by t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories + C h a n g e in the v a l u e lan^ holdings + Other revaluations = Change Memo: 1589 ,108 Net w o r t h in net worth outstanding of 1 2 3 4 5 6 7 S e p t e m b e r 1991 Farm 8 Noncorporate Farm Business Factors 72 Annual Accounting for Change in 2 3 4 5 i n v e s t m e n t of business sector, from of F u n d s A c c o u n t s Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 + Proprietors' 7 - Capital net investment consump.allow., = Net investment Balance Sheet 8 NIPA flow, basis 1988 21, 839 2 1 ,4 2 9 21, 908 22, 521 2 4 , 157 1 7, 6 5 8 1 4 , 181 3, 2 3 3 - 1 0 , 948 7, 2 2 3 14, 2 0 6 2, 3 8 3 -11, 823 4, 059 17, 8 4 9 3, 1 1 9 -14, 730 9, 3 3 2 13, 189 2, 756 -10, 433 9, 7 2 5 14, 4 3 2 3, 5 6 1 -10, 871 2 3 4 5 1,937 5, 127 - 1 ,8 0 4 - 8 , 198 -13, 438 - 1 4 , 982 6 22,000 2 1 ,2 0 0 20, 5 0 0 20, 5 3 6 20, 674 2 1 ,9 8 1 7 2,794 5,.766 -875 - 6 ,,826 .591 -11 , - 1 2 !8 0 6 8 588 21 , 0 8 8 2 0 ,500 -108 2 0 ,428 2 0 ,536 -23 2 0 ,651 2 0 ,674 ,623 -1 , 2 0 ,,358 2 1 ,981 9 10 11 12 , 9 0 0 -965 21 ,088 7 ,223 16 , 2 1 4 -155 20 ,428 4 ,059 23 11 20 9 7 -3 20 9 ,459 ,174 ,358 ,725 12 13 14 15 ,900 ,713 ,994 ,193 16 , 2 1 4 1 ,282 5 ,480 9 ,452 23 ,158 3 ,006 18 , 6 8 8 1 ,464 7 ,459 128 11 , 8 8 9 - 4 ,558 16 17 18 19 -35,033 6 ,521 39 ,877 2 0 ,573 39 ,981 20 570 515 400 -13 1 ,111 21 18 , 4 7 3 49 ,773 32 , ISO 37 ,368 22 638 ,487 688 ,260 720 ,410 757 ,778 23 446 21 , 646 2 1 ,200 Depreciation valuation adj. Depreciation charges - C a p . consump. allow.» NIPA 149 22,149 22,000 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis — 1,546 -16,334 22,149 7,361 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories -1,546 1 ,404 3,107 -6,057 3 ,632 1 ,533 5 ,525 - 3 ,426 -77,898 21 + Other = Change 23 Net ,632 ,356 ,646 ,658 - worth -76,799 - 2 5 ,511 outstanding 645,525 620 ,014 in worth 3 -10 21 7 of revaluations 22 net 12 3 5 3 Nonfarm 1 G r o s s i n v e s t m e n t of n o n f a r m noncorporate business sector, f r o m F l o w of F u n d s A c c o u n t s 2 3 4 5 6 Capital expenditures Net f i n a n c i a l i n v e s t m e n t N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s + Proprietors' 7 - 8 Capital net consump.allow., = Net investment Balance Sheet 9 10 11 investment NIPA flow, basis Depreciation valuation adj. Depreciation charges -Cap. consump. allow., NIPA Business 7,361 15,496 2,668 -12,828 - + C h a n g e in t h e v a l u e land h o l d i n g s Flows 22,857 9 10 11 20 Business Annual Farm Gross farm Flow Noncorporate Worth Flows 1987 1 Net & Noncorporate ,158 ,839 ,651 ,332 Business 73, 411 79, 988 84, 696 96, 702 96, 624 8 4 , 241 - 1 3 , 739 38, 759 52, 498 88, 074 -14, 663 38, 5 5 1 5 3 ,• 2 1 4 71 , 9 6 4 8, 024 13, 0 6 1 5, 0 3 7 70, 8 5 9 13, 8 3 7 18, 4 2 2 4, 5 8 5 63,778 32, 924 19, 0 8 7 -13, 837 55, 683 40, 941 1 5 , 111 -25, 830 - 9 3 , 119 - 5 5 ,.004 - 8 6 ,.010 - 7 3 , 361 - 7 5 ,.994 - 5 0 , 150 73,,411 79,.988 8 4 ,6 9 6 9 6 ,.702 96, 624 - 7 3 ,,361 - 7 5 ,,994 - 5 0 ,.150 - 5 ,,538 79,, 1 5 8 8 4 ,696 - 1 2 ,803 8 3 ,899 96 ,702 - 1 1 ,,208 85 416 96,,624 70, 502 70,• 5 0 2 -93 : ,119 - 5 5 ,004 - 1 ,,389 6 9 ,113 70;,502 - 1 ,367 72 ,044 7 3 ,411 - 8 6 ,• 0 1 0 - 4 ,,191 7 5 ,797 79,,988 9 10 11 12 13 14 15 + R e v a l . of p h y s i c a l a s s e t s C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 57 72 69 84 ,502 ,630 ,113 ,241 33 49 72 88 ,641 ,671 ,044 ,074 110 106 75 71 ,729 ,896 ,797 ,964 55 47 79 70 ,719 ,420 , 158 ,859 113 93 83 63 ,642 ,521 ,899 ,778 35,,350 5 ,617 8 5 ,416 5 5 ,683 12 16 17 18 19 R e v a l u a t i o n b y t y p e of a s s e t Residential structures Nonres. plant 8 equipment Inventories 57 51 12 -5 ,502 ,117 ,250 ,865 33 30 9 -6 ,641 ,645 ,137 ,141 110 88 19 2 ,729 ,384 ,874 ,471 55 44 15 -4 ,719 ,570 ,558 ,409 113 102 16 -4 ,642 ,319 ,297 ,974 35 ,350 2 9 ,317 5 ,523 510 16 17 + C h a n g e in t h e v a l u e land h o l d i n g s 21 + Other 22 = Change 23 Net Data in 78 ,209 1 revaluations worth are of 44 ,604 5 8 ,489 - 2 5 ,553 20 -1 -1 - 4 ,003 1 -117 21 28 ,497 108 ,941 - 2 9 ,262 1840 ,294 1949 ,235 1919 ,973 43 ,982 7 4 ,621 outstanding 1633 ,090 1 7 0 7 ,711 1811 ,797 millions of dollars. 19 75 ,177 worth net 18 94 ,618 104 ,086 in 13 14 15 September 1991 Nonfinancial Corporate Business Nonfinancial Corporate Business Factors Accounting 73 for C h a n g e in Net Worth Annual F l o w s Annual Flows 1946 1947 1948 1952 Nonfinancial Corporate Business, Excluding Farms G r o s s investment of n o n f i n a n c i a l c o r p o r a t e b u s i n e s s sector, from F l o w of F u n d s A c c o u n t s 12,,309 15,,781 17 ,978 16 ,334 21,,754 22,,380 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 1 ,093 1,,000 1 ,212 1,,288 2,,107 7 ,344 - 5 ,263 8 ,968 - 5 ,899 10 ,418 -2,,152 11 ,199 1 ,856 12 ,018 - 4 ,965 13 ,830 - 1 ,199 14 ,838 1 ,000 10 5 ,706 10 ,333 8 ,515 6 ,135 10 ,569 11 ,230 8 ,862 11 12 13 -2 7 ,342 7 ,344 8 ,968 8 ,968 10 ,418 10 ,418 11 ,199 11 ,199 -1 12 *17 12 ,018 13 ,830 13 ,830 14 15 16 17 13 ,907 30,,593 7,,342 24 ,028 14 29 8 23 ,825 ,825 ,968 ,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 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 22 2, 2 3 6 3 ,193 2 ,454 23 24 25 -230 230 390 1,,139 749 26 27 28 -4 -4 29 1 6,,769 2 3 4 5 18, 765 - H i ,996 -1,,356 10,,640 6 1,,018 8 9 Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets - N e t i n c r . in l i a b i l i t i e s 2,,320 + C o r p o r a t e equity issues M i n . r i g h t s from U.S. govt. C a p i t a l c o n s u m p . a l l o w . , NIPA I n v e n t o r y v a l u a t i o n adj. - Net investment flow, B a l a n c e Sheet basis 1 14 ,839 14 ,838 - D e p r e c i a t i o n valuation adj. D e p r e c i a t i o n charges - C a p . c o n s u m p . a l l o w . , NIPA 9 ,000 26 ,895 13 ,830 31 ,725 3 ,308 13 ,036 14 ,839 2 4 ,567 • R e v a l . of p h y s i c a l assets C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 14 15 16 17 9 ,525 -828 9 ,309 1 ,044 9 ,000 116 9 ,154 270 3 ,308 -361 3 ,790 -121 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant & equipment I n v e n t o r i e s (1) 20 21 1 ,943 2 ,933 3 ,386 2 ,999 538 1 ,259 721 415 1 ,075 660 467 1 ,088 621 683 1 ,191 508 8 9 0 + R e v a l . of fgn. d i r . i n v e s t . C h a n g e in value 1 ,742 - D i r e c t investment ( 2 ) 852 90 100 10 150 184 34 98 154 56 370 450 80 177 267 90 63 -1 81 30 21, 684 28,,650 19,,161 10 ,282 23 ,125 24 ,122 31 154, 586 183,,236 202,,397 212,,679 235 ,804 259 ,926 10,,333 8 ,515 6 ,135 10 ,569 - - • - - - 19 C h a n g e in the value of land h o l d i n g s 24 25 R e v a l . of dir. inv. in U.S. C h a n g e in value - D i r e c t investment (2) 26 -2 + Other r e v a l u a t i o n s 29 15,,901 = C h a n g e in net worth 30 155 287 132 27 28 Memo: 275,,827 Net worth o u t s t a n d i n g T a n g i b l e s and net worth on h i s t o r i c a l cost b a s i s : 32 5,, 706 11,,230 8,,862 = Net investment flow + V a l u a t i o n adjustment on p h y s i c a l assets (3) C h a n g e in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s (1) 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 ,845 -404 5 ,316 7 ,335 13,,055 - 1 ,370 19,,486 8 ,116 28 ,972 -658 ,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 —4,,850 9,,988 14, 8 3 8 41 -230 390 538 415 467 683 890 + R e v a l . of fgn. dir. i n v e s t . 41 42 - 90 150 98 370 177 155 - R e v a l . of dir. inv. in U.S. 42 43 63 -1 81 - - Other r e v a l u a t i o n s 43 44 7,,022 12,,946 12,,101 10,,106 13,,492 16,,223 13, 2 5 0 = C h a n g e in net worth 45 102,,592 115,,538 127,.639 137, 745 151,,237 167, 4 6 0 Memo: 180, 710 Net worth o u t s t a n d i n g • - -2 C h a n g e in the value of land h o l d i n g s D e p r e c i a t i o n v a l u a t i o n adj. 38 Depreciation charges 39 - C a p . c o n s u m p . a l l o w . , NIPA (1) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s c a p i t a l g a i n s . (3) E f f e c t of different treatment of certain items in BEA c a p i t a l a c c o u n t s from the the N I P A a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t i n v e s t m e n t flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in m i l l i o n s of d o l l a r s . 33 34 35 36 44 S e p t e m b e r 1991 Nonfinancial Corporate Business Nonfinancial Corporate Business Factors Accounting 74 for C h a n g e in Net W o r t h Annual Flows Annual Flows Nonfinancial Corporate Business* Excluding Farms 1 G r o s s investment of n o n f i n a n c i a l corporate business sector, from F l o w of F u n d s A c c o u n t s 22, 095 22, 708 25, 4 9 7 25, 940 28, 353 27,028 31,905 29,184 2 3 4 5 Capital expenditures Net f i n a n c i a l i n v e s t m e n t Net acq. of f i n a n . a s s e t s - N e t incr. in l i a b i l i t i e s 26, 028 - 3 , 933 2, 2 9 8 6, 231 23, 2 4 5 -537 4, 8 6 4 5, 401 32, 4 1 7 - 6 , 920 16, 521 23, 441 37, 068 - 1 1 , 128 3, 962 15, 090 35, 683 - 7 , 330 4, 2 1 9 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 6 • C o r p o r a t e e q u i t y issues 7 - M i n . rights from U.S. g o v t . 1. 766 1, 5 8 3 1, 719 2, 2 5 0 2, 441 1,968 2,078 1,365 15, 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 6, 194 10, 132 5, 596 8 - C a p i t a l c o n s u m p . a l l o w . , NIPA 9 - Inventory v a l u a t i o n adj. r Net investment flow, B a l a n c e Sheet basis 1 10 9,,010 7, 8 2 8 11, 184 10, 8 3 8 10, 276 11 - D e p r e c i a t i o n v a l u a t i o n adj. 12 Depreciation charges 13 - C a p . consump. allow., NIPA 1 15,,852 15,,851 -1 16, 762 16,,763 -1 17, 781 17, 782 -1 20, 026 20, 027 1 22, 044 22, 043 23, 052 23, 052 24, 128 24, 128 1 11 25, 127 12 25, 126 13 14 • R e v a l . of p h y s i c a l assets 15 C h a n g e in value 16 Depreciation charges 17 - G r o s s p u r c h a s e s CI) 1,,845 13,,021 15,,852 27,,028 1,,245 8,,028 16,,762 23,,545 10, 5 5 2 26, 938 17, 781 34,,167 15, 8 0 8 35, 5 2 5 20,,026 39, 743 6, 5 5 5 21, 719 22,,044 37,,208 1, 8 8 6 6, 8 8 2 23, 052 28,,048 3, 8 7 3 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, 8 0 8 232 15,,100 476 6,,555 63 6 ,782 -290 1, 8 8 6 •330 1,,929 287 3, 8 7 3 293 3, 678 488 -1,,429 239 - 1 ,,864 196 18 19 20 21 3 ,987 5 ,306 4,,642 7,,382 7 ,559 6,,744 5, 787 5,,097 22 834 2,,015 1,,181 1,,046 2,,418 1,,372 -902 23 2,,038 24 2,,940 25 307 405 98 251 489 238 - 9 26 306 2 7 315 28 10 18 R e v a l u a t i o n by type of asset 19 Residential structures 20 . N o n r e s . plant 8 e q u i p m e n t 21 I n v e n t o r i e s (1) 22 + C h a n g e in the value of land h o l d i n g s 23 + R e v a l . of fgn. dir. invest Change in value 24 - D i r e c t investment ( 2 ) 25 797 1 ,532 735 711 1,,378 667 941 1,,764 823 1,,159 3,,110 1,,951 447 ,889 2i ,442 2, 26 - R e v a l . of dir. inv. in U.S C h a n g e in value 27 - D i r e c t i n v e s t m e n t (2) 28 148 306 158 258 382 124 246 443 197 151 383 232 96 251 155 100 -1 1 -1 -153 1 29 30 = C h a n g e in net w o r t h 15 ,191 14 ,833 27,,174 35 ,036 24,,741 15,,350 20,,434 8,,371 30 Memo: 31 Net worth o u t s t a n d i n g 291 ,018 305 ,851 333 ,025 368 ,061 392 ,802 ,08 ,152 428,,586 436,,957 31 6 ,194 10,,132 5,,596 32 ,708 ,487 ,853 ,048 -736 19,,547 17,,925 38,,208 29 • Other r e v a l u a t i o n s -299 - :al ,cost b a s i s : 32 = Net investment flow 33 34 35 36 • V a l u a t i o n a d j u s t m e n t on p h y s i c a l a s s e t s (3) Change in value Depreciation charges - G r o s s p u r c h a s e s (1) 37 • C h a n g e in the value of land h o l d i n g s 38 - D e p r e c i a t i o n v a l u a t i o n a d j . 39 Depreciation charges 40 - C a p . consump. allow., NIPA 9 ,010 7 ,828 11 ,184 10 ,838 10 ,276 -708 15 ,304 11 ,016 2 7 ,028 - 1 ,387 10 ,033 12 ,125 23 ,545 - 1 ,776 19 ,209 13 ,182 34 ,167 -923 2 4 ,405 14 ,415 39 ,743 - 1 ,275 20 ,233 15 ,700 37 ,208 -1 9 16 28 -611 18,,054 19,,127 37,,792 33 34 35 36 552 345 655 1 ,212 745 1 ,514 1 ,607 1,,519 37 - 4 ,835 11 ,016 15 ,851 - 4 ,638 12 ,125 16 ,763 - 4 ,600 13 ,182 17 ,782 - 5 ,612 14 ,415 20 ,027 - 6 ,343 15 ,700 2 2 ,043 - 6 ,199 16 ,853 23 ,052 - 6 ,203 17 ,925 24 ,128 - 5 ,999 38 19,,127 39 25,,126 40 41 + R e v a l . of fgn. dir. i n v e s t . 797 711 941 1 ,159 447 834 1 ,046 -902 41 4 2 - R e v a l . of d i r . inv. in U . S . 148 258 246 151 96 307 251 - 9 42 - 100 -1 1 -1 -153 1 43 43 + Other revaluations -299 44 = C h a n g e in net worth 14 ,039 11 ,877 15 ,458 17 ,746 16 ,441 12 ,725 17 ,848 11 ,611 44 Memo: 45 Net worth o u t s t a n d i n g 194 ,749 206 ,626 2 2 2 ,084 239 ,830 2 5 6 ,271 >68 ,996 286 ,844 298 ,455 45 (1) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s c a p i t a l g a i n s . (3) Effect of different t r e a t m e n t of certain items in BEA c a p i t a l a c c o u n t s from the the NIPA a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t i n v e s t m e n t flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in m i l l i o n s of d o l l a r s . S e p t e m b e r 1991 Nonfinancial Corporate Business Nonfinancial Corporate Business F a c t o r s A c c o u n t i n g for C h a n g e in Net W o r t h 7 cj Annual Flows Annual F l o w s 1961 1962 1963 1964 1965 1966 1967 1968 57,,302 59 ,497 Nonfinancial Corporate Business, Excluding Farms 49,,664 56,,593 1 31,•875 38 ,513 38,,917 4 2 ,740 2 3 4 5 36,,520 - 4 ,645 14 ,248 18 ,893 43 ,453 -4,,940 12 ,476 17 ,416 44 -5 15 21 49 -7 14 21 6 7 2,,121 369 8 9 25 ,876 271 26 ,823 26 2 7 ,998 54 29 ,445 -494 31 ,459 - 1 ,245 34 ,284 - 2 ,107 10 7 ,849 12 ,033 10 ,524 14,,934 19 ,422 11 12 13 25 ,876 25 ,876 -1 26 ,822 26 ,823 -1 2 7 ,997 2 7 ,998 -1 29 ,444 29,,445 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 25 29 50 18 19 20 21 -419 -188 - 1 ,204 973 -232 -306 575 -501 22 5 f 622 23 24 25 26 27 28 ,775 ,858 ,694 ,552 ,746 ,006 ,860 ,866 61 ,444 -11,,780 21 ,808 33 ,588 1 ,145 -28 75 -18 16 35 ,557 ,964 ,744 ,708 71,• 559 -14,,257 16,,426 30,,683 76 -17 30 48 G r o s s i n v e s t m e n t of n o n f i n a n c i a l corporate business sector. from F l o w of F u n d s A c c o u n t s 1 Capital expenditures Net f i n a n c i a l investment Net a c q . of finan. assets - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 C o r p o r a t e equity issues M i n . r i g h t s from U.S. govt. 6 7 C a p i t a l c o n s u m p . a l l o w . , NIPA I n v e n t o r y v a l u a t i o n adj. 8 9 ,959 ,462 ,790 ,252 + -159 1 ,330 - 37,,563 -1,,554 41 ,427 - 3 ,651 - 25 ,675 23,,690 20,,232 1 37,,564 37,,563 -1 41,,426 41 ,427 - 31 ,459 31 ,459 -1 34 ,283 34 ,284 D e p r e c i a t i o n v a l u a t i o n adj. 11 Depreciation charges 12 - C a p . c o n s u m p . allow., NIPA 13 ,771 ,567 ,444 ,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 25 62 41 79 + R e v a l . of physical assets C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 1 ,584 -279 585 1 ,278 4 ,771 182 3 ,544 ,045 1 6 ,898 -116 6 ,931 83 13,,286 868 12 ,183 235 13,,283 -520 12,,370 1,,433 2 5 ,136 1 ,013 2 2 ,526 1 ,597 1 ,916 1 ,973 3 ,091 3 ,251 3 ,654 234 1 198 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,,360 171 482 311 -126 220 346 101 332 231 97 419 322 20 434 414 -169 257 426 171 869 698 -341 1 ,259 - - 2,,397 - ,136 ,990 ,426 ,280 - Net i n v e s t m e n t flow, B a l a n c e Sheet b a s i s R e v a l u a t i o n by type of asset 18 19 Residential structures N o n r e s . plant 8 equipment 20 I n v e n t o r i e s (1) 21 C h a n g e in the value of land h o l d i n g s 53 3 ,218 3 ,165 + R e v a l . of fgn. dir. i n v e s t . C h a n g e in value - D i r e c t i n v e s t m e n t (2) 23 24 25 84 892 808 - R e v a l . of dir. inv. in U.S. C h a n g e in value - D i r e c t i n v e s t m e n t (2) 26 27 28 Other revaluations 29 C h a n g e in net worth 30 Memo: 652,,784 Net w o r t h o u t s t a n d i n g 31 -102 -7 45 222 27 -45 87 772 30 12 ,977 13 ,545 14 ,003 2 2 ,907 29,,561 39 ,639 37,,084 46,,111 31 449 ,934 463 ,479 4 7 7 ,482 5 0 0 ,389 5 2 9 ,950 569 ,589 606,,673 32 7 ,849 12 ,033 10 ,524 14 ,934 19,,422 25 ,675 = T a n g i b l e s and net w o r t h 20,,232 ,421 ,603 ,640 ,664 -1,,435 40,,551 31,,127 73,,113 -1,,598 43,,994 33 ,688 79 ,280 2 ,576 2 ,349 2,,175 2 ,290 - 4 ,946 24 ,499 29,,445 - 5 ,095 2 6 ,364 31,,459 - 5 ,644 28 ,640 34 ,284 - 6 ,436 31,,127 37,,563 - 7 ,739 33 ,688 41 ,427 -23 -15 -17 - 3 ,101 -38 53 101 97 20 -169 171 84 -7 45 222 27 -45 87 772 15 ,560 17 ,309 17 ,058 21,,678 25,,521 28 ,270 30 ,744 29 ,404 314,,015 331 ,324 348 ,382 370,,060 395,,581 423 ,851 454,,595 33 34 35 36 211 16 ,105 20 ,355 36 ,249 ,648 20 ,195 21 ,584 43 ,427 -277 21 ,478 ,966 44 ,721 -300 25,,441 24 ,499 50 ,240 - 1 ,562 34,,763 2 6 ,364 62,,689 37 2 ,054 1 ,858 1 ,858 1,,988 38 39 40 - 5 ,521 20 ,355 25,,876 - 5 ,239 21 ,584 26 ,823 - 5 ,032 22 ,966 2 7 ,998 41 198 -292 42 171 -126 43 -102 44 45 -2 46 28 77 on h i s t o r i c a l cost b a s i s : = Net investment flow 32 + V a l u a t i o n adjustment on p h y s i c a l assets (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 33 34 35 36 + C h a n g e in the value of land h o l d i n g s 37 - D e p r e c i a t i o n v a l u a t i o n adj. 38 Depreciation charges 39 - C a p . c o n s u m p . a l l o w . , N I P A 40 R e v a l . of fgn. d i r . i n v e s t . 41 R e v a l . of dir. inv. in U . S . 42 Other revaluations 43 C h a n g e in net w o r t h 44 Memo: 4 8 3 ,999 Net w o r t h o u t s t a n d i n g 45 - = (1) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s c a p i t a l g a i n s . (3) Effect of different treatment of certain i t e m s in BEA c a p i t a l a c c o u n t s from the the N I P A a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t i n v e s t m e n t flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in m i l l i o n s of d o l l a r s . 14 15 16 17 + 29 23,,690 10 S e p t e m b e r 1991 Nonfinancial Corporate Business 76 Nonfinancial Corporate Business Factors Accounting for C h a n g e in Net W o r t h Annual Flows Annual Flows Nonfinancial Corporate Business, Excluding Farms 1 G r o s s investment of n o n f i n a n c i a l corporate b u s i n e s s sector, from F l o w of F u n d s A c c o u n t s 65, 5 9 4 60 =5 9 7 70,,364 79,,386 69,,926 101,,666 120,,272 138 ,308 1 2 3 4 5 Capital expenditures Net f i n a n c i a l investment Net acq. of f i n a n . assets - N e t incr. in l i a b i l i t i e s 84,,704 - 1 9 ,,110 31,,684 50,,794 80, 8 9 7 - 2 0 , 300 18, 728 39, 028 86,,426 — 16,,062 36, 677 52,,739 96,,316 -16,,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,,758 155 ,370 -17,,062 53 ,462 70 ,524 2 3 4 5 6 + C o r p o r a t e equity issues 7 - M i n . rights from U.S. g o v t . 3,,406 44 5 =694 329 11, 435 717 10,,922 912 7,,883 3,,168 4,,097 6,,490 9,,908 1,,323 10 ,524 3 ,973 6 7 45 ,351 -5,,870 49, 798 —6! 5 5 2 54, 701 -4, 584 59,,952 - 6 ,,610 65,,023 —20,,022 75,,995 - 3 9 ,,457 91,,338 -10,,952 101 ,605 - 1 4 ,911 8 9 62,,735 48,,471 58 ,165 10 - 1 11 101 ,604 12 101 ,605 13 Capital consump.allow., NIPA Inventory v a l u a t i o n adj. = Net investment flow, B a l a n c e Sheet basis 29 ,475 22, 716 30,,965 36,,054 29,,640 11 - D e p r e c i a t i o n v a l u a t i o n adj. 12 Depreciation charges 13 - 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 + R e v a l . of p h y s i c a l assets 15 Change in value 16 Depreciation charges 17 - G r o s s p u r c h a s e s (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,,447 59,,950 102,,014 56,,797 129,,171 65,,022 137,,396 169 ,347 265,,239 75,,995 171,,887 93,,294 121,,473 91,,335 119,,514 26,,689 1,,308 ,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 56,,797 2,,423 45,,623 8,,751 169 ,347 2,,365 150 ,562 16,,420 93,,294 656 88,,007 4,,631 73 ,168 18 357 19 67 ,312 20 5 ,499 21 10 18 19 20 21 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant 8 equipment I n v e n t o r i e s CI) + C h a n g e in the value of land h o l d i n g s - 73 137 101 166 ,168 ,872 ,604 ,308 14 15 16 17 3,,633 2, 632 2,,951 8,,325 12,,343 22,,785 5,,901 13 ,729 22 23 • R e v a l . of fgn. dir. i n v e s t . 24 Change in value 25 - D i r e c t i n v e s t m e n t (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 8 1 0 23 12 ,443 24 11 ,633 25 26 - R e v a l . of dir. i n v . in U . S . 27 C h a n g e in value 28 - D i r e c t i n v e s t m e n t (2) 260 1 ,003 1 ,263 -12 1,,452 1 ,464 276 644 368 6 954 948 2,,888 5,,688 2,,800 -173 4 ,588 4 ,761 -85 2,,518 2,,603 - 1 ,238 26 3 ,108 27 4 ,346 28 -148 -50 1 ,928 1 ,571 11,,548 30 ,103 -607 4 ,024 29 107 ,523 2 8 4 ,856 146 ,875 151 ,135 30 22 29 + Other r e v a l u a t i o n s 30 = Change in net w o r t h 60 ,135 54 ,090 69 ,803 74 ,700 Memo: 31 Net worth o u t s t a n d i n g 712 ,919 767,,009 8 3 6 ,812 911 ,512 1019 ,035 1303 ,891 1450 ,766 1601 ,901 31 30 ,965 36 ,054 29 ,640 62 ,735 48,,471 58 ,165 32 ,119 ,205 ,969 ,293 275 55 ,464 46 ,825 102 ,014 -207 8 6 ,429 50 ,760 137 ,396 ,864 ,071 ,680 ,887 5,,863 64,,361 61,,016 119,,514 cal cost b a s i s : 32 = Net investment flow 33 34 35 36 + V a l u a t i o n adjustment on physical assets (3) Change in value D e p r e c i a t i o n charges - G r o s s p u r c h a s e s (1) 37 • C h a n g e in the value of land h o l d i n g s 29 ,475 22,,716 -759 53 ,044 36 ,727 90 ,530 -2 44 39 87 ,396 ,834 ,890 ,120 -4 43 42 90 6 123 55 171 -1,,507 98 ,002 66 ,799 166 ,308 33 34 35 36 4 ,258 1 ,652 1,,935 2,,871 4 ,518 3 ,889 1,,178 1 ,514 37 - 8 ,624 36 ,727 45 ,351 - 9 ,908 39 ,890 49 ,798 -11,,732 42 ,969 54,,701 - 1 3 ,127 46 ,825 59 ,952 - 1 4 ,263 5 0 ,760 65 ,023 - 2 0 ,315 55 ,680 75 ,995 - 3 0 ,322 61,,016 91,,338 -34,,806 38 66,,799 39 101,,605 40 41 + R e v a l . of fgn. dir. i n v e s t . 226 -203 -338 -629 82 -287 -272 8 1 0 41 4 2 - R e v a l . of dir. inv. in U . S . -260 -12 276 6 2,,888 -173 -85 -1,,238 42 38 - D e p r e c i a t i o n valuation adj. 39 Depreciation charges 40 - C a p . c o n s u m p . allow., N I P A -148 -50 1,,928 1 ,571 11,,548 30 ,103 -607 4,,024 43 44 = C h a n g e 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 o u t s t a n d i n g 525 ,935 557,,574 599,,401 652 ,664 709,,620 8 3 3 ,412 918 ,452 1017,,502 45 43 + O t h e r r e v a l u a t i o n s CI) Before i n v e n t o r y v a l u a t i o n a d j u s t m e n t . C2) E x c l u d e s c a p i t a l g a i n s . C3) Effect of different treatment of certain items in BEA c a p i t a l a c c o u n t s from the the NIPA a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in m i l l i o n s of d o l l a r s . S e p t e m b e r 1991 Nonfinancial Corporate Business Nonfinancial Corporate Business F a c t o r s A c c o u n t i n g for C h a n g e in Net W o r t h y y Annual F l o w s Annual Flows 1977 1978 1979 1980 1981 1982 Nonfinancial Corporate Business, Excluding Farms G r o s s investment of n o n f i n a n c i a l corporate business sector, from F l o w of F u n d s A c c o u n t s 221 ,042 246,,642 2 4 4 ,244 260,,880 319,,414 243 -22 98 121 ,677 ,635 ,412 ,047 2 8 6 ,300 -39,,658 97,,022 136,,680 256 -11 46 58 ,110 ,866 ,996 ,862 270,,546 -9,,666 122,,080 131,,746 369 ,678 - 5 0 ,264 105 ,233 155,,497 1 148 ,241 195, 638 242,,570 2 3 4 5 179,,271 - 3 1 ,,030 62,,565 931,595 217,,661 -22,,023 107,,667 129,,690 238,,939 3,,631 129,,758 126,,127 6 7 2 ,727 2,,470 -101 1,,073 - 7 ,836 4 ,745 10 ,375 4 ,997 - 1 3 ,,450 4,,847 1 ,900 7 ,791 20,,000 7,,785 8 9 113,,615 - 1 6 ,637 129 ,499 -25,,298 149 ,257 - 4 3 ,175 170 ,927 - 4 3 ,129 198,,403 - 2 4 ,,189 2 2 0 ,973 - 1 0 ,350 227,,745 -10,,900 10 51,,520 89,,363 123 ,907 98,,622 54,,131 27,,730 56,,250 284 11 12 13 -1 149 ,256 149 ,257 -1 170,,926 170,,927 1 198,,404 198,,403 2 220,,975 220,,973 20 2 2 7 ,765 227,,745 -10 2 3 8 ,043 2 3 8 ,053 - 113 ,615 113 ,615 1 129,,E~9 129,,499 Depreciation valuation adj. 11 Depreciation charges 12 - C a p . c o n s u m p . a l l o w . , N I P A 13 14 15 16 17 95 175 113 193 ,994 ,817 ,615 ,438 166,,051 277,,537 129 ,500 240,,986 147 ,403 275,,516 149 ,256 2 7 7 ,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 69 199 238 367 • R e v a l . of p h y s i c a l assets C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 18 19 20 21 95 ,994 827 8 7 ,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 5 8 ,817 9 ,241 22 22,,601 34,,297 32,,018 50,,703 51,,871 30,,993 24, 4 4 5 38 ,978 23 24 25 - 2 ,,709 8,,799 11,,508 286 16,,379 16,,093 -346 26,,479 2 6 ,825 6,,671 30,,227 23,,556 3,,774 16,,359 12,,585 - 2 1 ,,674 -11,,479 10,,195 -7,,236 2,,587 9,,823 - 7 ,371 6 ,007 13 ,378 • R e v a l . of fgn. dir. i n v e s t . C h a n g e in value - D i r e c t investment (2) 23 24 25 26 27 28 97 3,,825 3,,728 24 7,,8"f6 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 2 7 ,522 25 ,568 - R e v a l . of d i r . i n v . in U . S . C h a n g e in value - D i r e c t investment ( 2 ) 26 27 28 - 2 ,683 Other revaluations 29 Capital expenditures Net f i n a n c i a l investment Net acq. of f i n a n . assets - N e t incr. in l i a b i l i t i e s - 7 8 ,975 • C o r p o r a t e equity issues 7 ,902 - H i n . r i g h t s from U . S . g o v t . 2 3 8 ,053 - C a p i t a l c o n s u m p . a l l o w . , N I P A - 5 ,800 - I n v e n t o r y v a l u a t i o n adj. ,881 ,414 ,043 ,576 * Net investment flow, B a l a n c e Sheet b a s i s 10 14 15 16 17 R e v a l u a t i o n by type of asset 18 Residential structures 19 N o n r e s . plant 8 e q u i p m e n t 20 I n v e n t o r i e s (1) 21 + C h a n g e in the v a l u e of land h o l d i n g s 22 29 -724 598 3,,641 - 7 ,,790 4,,538 4,,990 -20,,829 30 166,,585 290,,570 306, 4 4 6 343,,319 328,,470 116 ,269 8 4 ,947 97 ,145 = C h a n g e in net worth 30 31 1768 ,486 2059,,056 2365,,502 2708,,821 3037,,291 3153 ,560 3238 ,507 Memo: 3335 ,652 Net w o r t h o u t s t a n d i n g 31 32 51 ,520 89,,363 123 ,907 98,,622 54,,131 27,,730 T a n g i b l e s and net w o r t h on h i s t o r i c a l cost b a s i s : 2 8 4 = Net 56 ,250 investment flow 32 V a l u a t i o n a d j u s t m e n t on p h y s i c a l assets ( 3 ) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s (1) 33 34 35 36 • C h a n g e in the value of land h o l d i n g s 37 - Depreciation valuation adj. 38 Depreciation charges 39 - C a p . consump. allow., NIPA 40 • ,255 ,127 ,279 ,661 ,559 ,331 ,804 ,576 13,,793 199,,712 119,,723 305,,642 3 ,615 6 ,570 7 ,854 5 ,442 7 ,670 8 ,504 - 4 6 ,,488 8 3 ,011 129,,499 - 5 4 ,926 94 ,331 149 ,257 -64,,522 106 ,405 170,,927 - 7 8 ,,680 119 ,723 198 ,403 - 8 7 ,127 133 ,846 220,,973 - 8 0 ,466 147 ,279 2 2 7 ,745 - 7 6 ,249 161 ,804 2 3 8 ,053 904 120 ,339 74 ,003 193 ,438 1,,145 159,,120 8 3 ,011 240,,986 37 2,,936 4,,222 38 39 40 -39,,612 74,,003 113,,615 6 189 94 277 ,235 ,273 ,331 ,369 6 182 106 281 -10 114 133 258 ,675 ,148 ,846 ,669 ,725 ,129 ,405 ,809 33 34 35 36 -1 125 147 273 7 213 161 367 - 7 ,371 • R e v a l . of fgn. dir. i n v e s t . 41 - R e v a l . of dir. i n v . in U.S. 42 • Other revaluations 43 41 -2,,709 286 -346 6 ,671 3,,774 -21,,674 - 7 ,236 42 97 24 178 13,,269 372 2,,153 863 1 ,954 43 -724 598 3,,641 -7,,790 4 ,538 4 ,990 -20,,829 - 2 ,683 44 45 44 91 ,442 142,,078 191 ,800 162,,051 162,,398 90,,787 114,,203 8 0 ,588 = C h a n g e in net w o r t h 45 1108 ,944 1251 ,022 1442 ,822 1604 ,873 1767,,271 1858,,058 1972,,261 Memo: 2 0 5 2 ,849 Net w o r t h o u t s t a n d i n g CI) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s c a p i t a l g a i n s . (3) E f f e c t of d i f f e r e n t treatment of c e r t a i n i t e m s in BEA c a p i t a l a c c o u n t s from the the N I P A a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in millions of d o l l a r s . S e p t e m b e r 1991 Nonfinancial Corporate Business Nonfinancial Corporate Business y g Factors Accounting for C h a n g e in Net W o r t h Annual Flows Annual Flows Nonfinancial Corporate Business, Excluding Farms 1 G r o s s i n v e s t m e n t of n o n f i n a n c i a l corporate business sector, from F l o w of F u n d s A c c o u n t s Capital expenditures Net f i n a n c i a l investment Net acq. of finan. assets - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 321 ,233 301 ,337 345 ,307 337 ,879 355 ,773 362 ,409 1 341 -19 83 103 330 -29 150 179 354 -8 112 121 378 -40 116 156 ,335 ,456 ,308 ,764 382 ,234 - 2 6 ,461 106 ,223 132 ,684 371 -8 81 90 ,171 ,762 ,554 ,316 2 3 4 5 ,202 ,969 • 895 ,864 ,401 ,064 ,769 ,833 ,074 ,767 ,507 ,274 6 • C o r p o r a t e e q u i t y issues 7 - M i n . rights from U.S. govt. - 8 4 ,500 4 ,376 - 8 4 ,975 7 ,194 - 7 5 ,500 2 ,936 - 1 2 9 ,500 3 ,307 - 1 2 4 ,150 2 ,398 - 6 3 ,000 3 ,483 6 7 8 - C a p i t a l c o n s u m p . a l l o w . , NIPA 9 - Inventory valuation adj. 2 5 0 ,4Q7 - 1 ,675 265 ,290 6 ,750 279 ,602 - 1 9 ,425 2 9 5 ,269 - 2 6 ,975 315 ,433 - 2 1 ,674 328 ,134 - 1 1 ,375 8 9 10 = Net investment flow, B a l a n c e Sheet basis - 1 6 ,465 - 6 2 ,872 6 ,694 - 6 3 ,222 — 64 ,534 - 2 0 ,833 10 11 - D e p r e c i a t i o n v a l u a t i o n adj. D e p r e c i a t i o n charges 12 13 - C a p . c o n s u m p . a l l o w . , NIPA -27 2 5 0 ,4-n 25C ,497 -75 265 ,215 265 ,290 -94 279 ,508 2 7 9 ,602 -140 2 9 5 ,129 295 ,269 -235 315 ,198 315 ,433 - 1 ,042 327 ,092 328 ,134 11 12 13 14 + R e v a l . of p h y s i c a l assets 15 C h a n g e in value 16 Depreciation charges - G r o s s p u r c h a s e s CI) 17 30 118 250 338 74 126 265 316 126 212 315 401 90 142 327 379 ,194 ,165 ,092 ,063 14 15 16 17 90 ,194 1 ,207 81,,406 7 ,581 18 19 20 21 R e v a l u a t i o n by type of asset Residential structures N o n r e s . plant 8 equipment I n v e n t o r i e s (1) 18 19 20 21 22 + C h a n g e in the value of land h o l d i n g s ,128 ,159 ,470 ,501 ,780 ,022 ,215 ,457 30 ,128 1 ,971 2 3 ,859 4 ,298 74 ,780 - 1 ,203 76 ,790 -807 111 203 279 370 ,988 ,043 ,508 ,563 123 230 295 402 ,796 ,670 ,129 ,003 ,408 ,720 ,198 ,510 111 ,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 2 6 ,228 14,,368 22 2 3 + R e v a l . of fgn. d i r . i n v e s t . 24 C h a n g e in value 25 - D i r e c t i n v e s t m e n t (2) 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 15,,729 43,,342 27,,613 23 24 25 2 6 - R e v a l . of d i r . inv. in U.S. 27 C h a n g e in value 28 - D i r e c t i n v e s t m e n t (2) 459 20,,07? 20,,491 345 35, 799 36, 144 4, 111 51, 376 47,,265 -507 57, 063 57, 5 7 0 2,,289 71,,966 69, 677 - 3 6 ,,152 2,,918 39,,070 26 27 28 29 • O t h e r r e v a l u a t i o n s -884 4, 2 9 9 -28, 809 11, 8 6 9 - 1 ,,471 2,,329 29 30 = C h a n g e in net w o r t h 50,,051 60, 8 4 8 137, 134 100, 039 94,,709 138,,981 30 Memo: 31 Net worth o u t s t a n d i n g 3385,,703 3446, 551 3583, 685 3683, 724 3778, 4 3 3 3917, 414 31 6, 694 -63, 222 — 64, 5 3 4 -20,833 32 9, 711 171, 706 208, 5 6 8 370, 5 6 3 21, 276 199, 979 223, 300 402, 003 16, 197 177, 8 5 0 239, 8 5 7 401, 5 1 0 9, 951 137, 168 251, 8 4 6 379, 063 33 34 35 36 investment flow 33 34 35 36 • V a l u a t i o n a d j u s t m e n t on p h y s i c a l a s s e t s (3) C h a n g e in value Depreciation charges - G r o s s p u r c h a s e s CI) 37 • C h a n g e in the value of land h o l d i n g s a T a n g i b l e s and net worth on h i s t o r i c a l cost b a s i s : 32 = Net -16, 465 -62, 7, 066 167, 118 178, 449 338, 501 9, 4 7 8 131, 791 194, 144 316, 4 5 7 11, 677 6, 074 8, 473 9, 066 9, 701 10, 380 37 - 7 2 , 048 178, 449 250, 4 9 7 - 7 1 , 146 194, 144 265, 290 - 7 1 , 034 208, 5 6 8 2 7 9 , 602 - 7 1 , 969 2 2 3 , 300 2 9 5 , 269 - 7 5 , 576 239, 8 5 7 315, 4 3 3 - 7 6 , 288 251, 8 4 6 328, 134 38 39 40 41 • R e v a l . of fgn. d i r . i n v e s t . 6, 046 12, 2 9 3 24, 669 3, 144 10, 132 15, 729 41 4 2 - R e v a l . of dir. inv. in U.S. 459 345 4, 111 507 2, 289 - 3 6 , 152 42 -884 4, 2 9 9 - 2 8 ,8 0 9 11, 8 6 9 - 1 , 471 2, 329 43 4 4 = C h a n g e in net w o r t h 79, 947 4 0 , 763 8 7 , 661 5 4 , 609 43, 312 129, 996 44 45 Net worth o u t s t a n d i n g 2132,796 2173,559 38 39 40 D e p r e c i a t i o n v a l u a t i o n adj. Depreciation charges - C a p . consump. allow., NIPA 43 • O t h e r r e v a l u a t i o n s (1) B e f o r e i n v e n t o r y v a l u a t i o n a d j u s t m e n t . (2) E x c l u d e s c a p i t a l g a i n s . (3) Effect of different treatment of certain items in BEA capital a c c o u n t s from the the NIPA a c c o u n t s in the c a l c u l a t i o n of h i s t o r i c a l - c o s t investment flows; also r e f l e c t s a d j u s t m e n t s for i n t e r s e c t o r a l t r a n s f e r s of a s s e t s . Data are in m i l l i o n s of d o l l a r s . 2261, S e p t e m b e r 1991 Private Financial Institutions Private Financial Factors Accounting 79 for C h a n g e in Net W o r t h Annual Flows Annual Flows 1945 Institutions 1946 1947 1948 1949 1950 1951 1952 Private Financial Institutions 1 1 ,267 2 3 4 5 236 1 , 031 - 2 • 354 - 3 ,385 6 7 8 108 207 1 ,168 1 ,007 1 ,243 1 ,216 2 ,108 1 ,181 1 ,993 G r o s s I n v e s t m e n t of p r i v a t e f i n a n c i a l i n s t i t u t i o n s , from F l o w of F u n d s A c c o u n t s 1 273 734 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 2 0 ,460 19 ,713 379 1 ,614 2 6 ,573 2 4 ,959 Capital expenditures Net f i n a n c i a l i n v e s t m e n t Net acq. of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 2 3 4 5 88 82 31 118 191 175 • C o r p o r a t e e q u i t y i s s u e s 6 314 340 - C a p i t a l c o n s u m p . a l l o w a n c e s 7 227 868 254 1 ,071 265 982 275 1 ,951 1 ,058 * Net i n v e s t m e n t f l o w , Balance Sheet basis 1 ,828 - R e v a l . of life i n s u r . and p e n s i o n fund r e s e r v e s 7 C h a n g e in v a l u e 6 ,662 - N e t c l a i m s issued 6 ,655 8 9 10 11 9 10 11 3 ,527 3 ,527 3 ,975 3 ,975 4 ,263 4 ,263 4 ,452 4 ,452 5 ,055 5,,055 5 ,411 5 ,411 12 13 14 -249 33 282 -94 115 209 7 103 96 1 ,228 1 555 327 35 274 239 -160 137 297 - 8 1 - R e v a l . of m u t u a l fund s h a r e s 12 C h a n g e in value 450 13 - S h a r e s issued 14 531 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 • R e v a l . o f r e p r o d u c i b l e assets 15 C h a n g e in value 16 149 Depreciation charges 340 17 - G r o s s p u r c h a s e s , FOF b a s i s 18 379 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,,347 989 120 845 725 31 • C h a n g e in the v a l u e of land h o l d i n g s 19 2 3 1 • R e v a l . of c o r p . e q u i t i e s held 2 0 C h a n g e in v a l u e 21 1 ,609 -Net purchases 22 1 ,378 23 -10 130 -64 34 52 -118 - 1 1 9 • Other revaluations 23 24 1 ,330 1 ,118 1 ,126 1,,431 2,,571 1,,560 2 ,155 = C h a n g e in net w o r t h 24 25 2 2 ,449 2 3 ,567 24 ,693 2 6 ,124 28,,695 30 ,255 Memo: 32,,410 Net w o r t h o u t s t a n d i n g 25 Data are in m i l l i o n s of d o l l a r s . S e p t e m b e r 1991 Private Financial Institutions Private Financial g Q Factors Accounting Institutions for C h a n g e in Net W o r t h Annual Flows Annual Flows 1953 1954 1955 1956 Private Financial 1957 1958 1959 1960 Institutions 1 G r o s s i n v e s t m e n t of p r i v a t e f i n a n c i a l i n s t i t u t i o n s • from F l o w of F u n d s A c c o u n t s 2 ,080 3 ,407 2 ,355 2 ,216 1 ,823 3 ,070 2 ,709 3 ,467 2 3 4 5 Capital expenditures Net f i n a n c i a l i n v e s t m e n t Net a c q . of finan. a s s e t s - N e t i n c r . in l i a b i l i t i e s 609 1 ,471 ,864 21 ,393 647 2 ,760 28 ,882 26 ,122 848 1 ,507 28 ,612 2 7 ,105 824 1 ,392 25 ,329 23 ,937 861 962 26 ,696 2 5 ,734 830 2 ,240 38 ,389 36 ,149 1 ,006 1 ,703 32 ,573 30 ,870 984 2,,483 38 ,603 36 ,120 6 + Corporate equity issues 202 334 52 329 339 202 267 201 7 - 361 394 419 486 532 557 587 629 1 ,921 3 ,347 1 ,988 2 ,059 1,,630 2 ,715 2 ,389 3 ,039 4 7 ,262 7 ,258 53 7 ,758 7 ,705 21,265 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 10 ,634 10 ,546 12 - R e v a l . of m u t u a l fund shares 13 C h a n g e in value 14 - S h a r e s issued -193 215 408 1 ,441 1 ,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 1 ,208 1 ,383 15 • R e v a l . o f r e p r o d u c i b l e assets 16 C h a n g e in value Depreciation charges 17 18 - G r o s s p u r c h a s e s , FOF basis 10 258 361 609 3 256 394 647 234 663 419 848 365 703 486 824 89 418 532 861 66 339 557 830 67 486 587 1,,006 58 413 629 984 Capital consump. allowances = Net i n v e s t m e n t flow, 8 B a l a n c e Sheet basis 9 10 11 19 R e v a l . of life i n s u r . and pension fund r e s e r v e s C h a n g e in value - N e t c l a i m s '<sued + C h a n g e in the value of land h o l d i n g s 2 0 • R e v a l . of c o r p . e q u i t i e s held C h a n g e in value 21 -Net purchases 22 2 3 • Other revaluations 79 -263 1,, 075 1,,338 116 147 196 200 212 208 205 3,,290 4,,787 1,,497 4 ,932 6:,416 1 ,484 333 1 ,802 1,,469 - 2 ,,696 -416 21 2 8 0 8,,431 10, 831 2,,400 2,,952 6,,273 3,,321 175 3 ,605 3 ,430 -6 -350 -127 -92 -368 -368 72 -47 2 4 = C h a n g e in net w o r t h 1,,930 4,,912 3,,960 2 ,697 919 5,,392 3,,563 3 ,517 25 Net worth o u t s t a n d i n g 34,,340 39 ,252 43 ,212 45 ,909 46,,828 52,,220 55,,783 59 ,300 Data are in m i l l i o n s of d o l l a r s . S e p t e m b e r 1991 Private Financial Private Institutions Factors Annual Accounting for Change in Net Financial Institutions 81 Worth Annual Flows 1963 1964 Private Financial 1965 Flows 1966 Institutions 1 3, 6 9 5 4, 1 6 3 1, 7 7 0 3, 6 3 5 2, 744 2, 519 3,192 ,509 G r o s s i n v e s t m e n t of p r i v a t e financial institutions, from F l o w of F u n d s A c c o u n t s 2 3 4 5 941 2, 754 48, 8 0 2 46, 048 1 ,2 5 1 2 •9 1 2 56, 631 5 3 ,.719 1, 1 0 8 662 57, 044 56, 382 1,,700 1, 9 3 5 6 6 ,505 64 5 7 0 1, 9 6 5 779 71 ,5 5 1 70, 772 1 ,9 1 3 606 58, 319 57, 713 2,108 1,084 82-274 81 ,190 3,293 1,216 96,251 95,035 Capital expenditures Net f i n a n c i a l i n v e s t m e n t N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 6 434 240 339 172 27 76 80 626 7 659 697 762 834 939 1 ,0 5 6 1 ,212 1 ,454 8 3 ,470 3,,706 1,- 3 4 7 2 ,973 1 ,8 3 2 1 ,5 3 9 9 10 11 4 ,201 15 , 2 7 5 11 , 0 7 4 3,681 Corporate Capital = Net investment Balance Sheet - 3 ,724 5 ,849 2 , 125 12 13 14 165 447 659 941 15 16 17 18 - 3 .•274 8 ,632 11 , 9 0 6 11 ,091 15 , 1 4 6 4 , 055 4 • 064 19 , 0 9 2 15 , 0 2 8 4 , ,103 19 .640 15 , 5 3 7 -5, 000 12 •9 6 7 1 7,• 9 6 7 8,396 25-755 17-359 590 -210 620 2 ,543 3 ,943 1 ,400 1 ,896 3 ,902 2 ,006 2:,884 6 ,104 3 ,220 - 4 ,0 2 5 -391 3, 6 3 4 6,943 9,478 2,535 ,109 -925 >816 R e v a l . of m u t u a l f u n d C h a n g e in v a l u e - S h a r e s issued 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 ,147 ,986 ,454 ,293 Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 219 173 256 221 149 - 7 ,682 - 3 ,296 4 ,386 8 ,882 12 , 7 3 2 3 ,850 8 ,467 13 , 0 4 0 4 ,573 9 ,321 15 , 2 7 5 5 ,954 - 1 0 ,308 - 4 ,321 5 ,987 1,212 2 , 108 C h a n g e in t h e v a l u e land h o l d i n g s 19,201 27,993 8,792 , 149 ,947 ,798 -117 -236 -687 -139 2 83 187 -423 + Other 6 ,948 2 ,800 3 ,594 5 ,927 4 ,882 1 ,204 6,834 ,030 = Change 25 66 , 2 4 8 69 , 0 4 8 72 ,642 78 ,569 83,451 8 4 ,655 in millions of dollars. shares Net revaluations worth in net worth outstanding 9 10 11 12 13 14 15 16 17 18 of R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 24 are flow. basis R e v a l . of l i f e i n s u r . a n d pension fund r e s e r v e s C h a n g e in v a l u e -Net claims issued 23 Data issues allowances - 3 ,265 - 1 ,604 1 ,661 264 19 20 21 22 ,926 3 • 16 ,508 12;, 5 8 2 equity consump. held 23 24 S e p t e m b e r 1991 Private Financial Institutions Private Factors Accounting Annual for Change in N e t Financial Institutions Worth Flows Annual Flows 1969 1970 1971 Private 1 G r o s s i n v e s t m e n t of p r i v a t e financial i n s t i t u t i o n s ? from F l o w of F u n d s A c c o u n t s -549 - 2 ,656 4 ,608 2 3 4 5 Capital expenditures Net f i n a n c i a l i n v e s t m e n t N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 3 ,431 - 3 ,980 72 ,397 76 ,377 3 ,220 - 5 ,876 101 ,252 107 ,128 3 ,945 663 146 ,060 145 ,397 issues 1 ,336 1 ,982 allowances 1 ,609 1 ,754 -822 1972 Financial 999 5 -4 210 214 1973 1974 1975 1976 Institutions 6 , 164 2 ,112 -6,052 7 ,119 - 5 ,007 161 ,514 166 ,521 9,390 -15,442 181,606 197,048 ,011 ,012 ,306 ,318 5 ,795 369 198 ,755 198 ,386 2 ,222 3 ,535 2 ,958 1 ,229 1,067 2,481 2 ,006 2 ,312 2 ,618 3 ,304 4,171 4,929 - 2 ,428 4 ,824 2 ,222 6 ,504 37 — 6 ,084 14 ,168 2 0 ,252 2 ,201 23 ,903 21 ,702 15 ,451 4 0 ,514 2 5 ,063 11 ,841 57,,147 4 5 ,306 34,895 103,020 68,125 67 ,475 51 ,903 shares - 9 ,380 - 3 ,645 5 ,735 - 3 ,327 -776 2 ,551 7,,720 8 ,635 915 15 16 17 18 + Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF basis 829 2 ,651 1,,609 3 ,431 1 ,169 , 2',635 1 ,754 3,,220 1 .741 • .680 3• 2, 0 0 6 3,,945 19 + C h a n g e in the v a l u e land h o l d i n g s 20 21 22 + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 6 + Corporate 7 - Capital 8 equity consump. = Net investment Balance Sheet - 9 10 11 flow, basis R e v a l . of l i f e i n s u r . and p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net claims issued 12 - R e v a l . of m u t u a l f u n d 13 C h a n g e in v a l u e 14 - S h a r e s issued 23 + Other 24 = Change Memo: 25 Net worth Data are net held worth outstanding in m i l l i o n s of - 2 9 ,243 11 ,612 40 • 855 3,,541 3,,480 -61 - 1 2 ,352 - 1 2 ,291 61 - 1 2 ,,206 - 1 1 ,,484 722 1 ,3 3 5 4,,034 2,-312 5,,011 2,,054 5,,231 2,,618 5,,795 5 9, 3, 7, 796 611 304 119 7,975 7,883 -92 2,601 7,820 4,171 9,390 10 11 5 ,453 12 3 ,476 13 - 1 ,977 14 4 8 4 8 ,336 ,072 ,929 ,665 15 16 17 18 531 19 of revaluations in - 2 5 ,868 11 ,708 37 • 5 7 6 8,665 548 236,488 235,940 dollars. 254 132 240 358 334 685 -16,,643 - 4 ,,009 12,,634 .925 -1 , 9,-432 11 ,3 5 7 26, 325 45, 5 4 2 19, 2 1 7 20, 797 4 2 , 183 21 , 3 8 6 -45, 224 - 3 2 , 389 12, 8 3 5 - 5 3 , 149 - 4 6, 3 6 5 6, 7 8 4 2,.803 5, 7 4 2 1, 188 5, 6 3 3 10, 7 9 0 4, 721 7,520 5,,941 23 1,.885 3, 8 1 6 11, 1 4 7 14, 9 6 3 12, 6 7 8 461 5,512 22,.173 24 101, 4 0 4 105, 2 2 0 116, 367 131 , 3 3 0 144, 008 143, 5 4 7 47,248 58,807 11,559 25,,625 2 0 34,,779 21 9,,154 S e p t e m b e r 1991 Private Financial Institutions Private Factors Annual Accounting for Change in Net Financial Institutions 83 North Flows Annual 1978 1977 1979 1980 Private 1981 Financial 1982 1983 1984 5 ,592 7 ,453 2 ,708 Institutions G r o s s i n v e s t m e n t of p r i v a t e financial institutions? from F l o w of F u n d s A c c o u n t s 1 9 ,168 2 5 ,879 28 ,474 2 3 4 5 8 ,497 671 ,459 304 , 3 0 3 ,,788 10 ,101 15 , 7 7 8 382 766 366 ,988 12 , 1 2 7 16 , 3 4 7 38 9 3 5 0 373,003 6 2,,632 2 ,517 2 ,665 2 , 157 2 ,689 4 ,674 3 ,649 7 5 ,671 6 ,264 7 ,375 8 ,466 9 ,935 11 , 3 7 0 12 ,303 13,,734 8 6 ,129 2 2 ,132 23 ,764 2 1 ,703 - 1 0 ,610 - 1 ,104 - 1 ,,201 - 2 -,830 9 10 11 - 1 6 ,185 5 5 ,726 71,911 14 , 4 2 3 108 ,077 93 ,654 4 0 ,225 1 4 9 ,935 1 0 9 ,710 - 2 7 :,833 8 0 038 1 0 7 .871 41 • ,403 177 ,522 1 3 6 ,119 61 ,682 2 0 6 ,616 1 4 4 ,934 - 1 2 555 126 916 139, 4 7 1 12 13 14 - 1 ,987 : - 1 ,020 967 5 ,357 5 ,739 382 7 155 10,,020 2, 8 6 5 - 5 ,684 ,967 -1 , 3, 7 1 7 8 ,241 17,,010 8,,769 8 046 35, 2 7 0 2 7 ,,224 -4, 782 2 4 ,5 5 8 29, 340 Change -Shares 6, 9 2 9 11 ,,626 8, 4 6 6 13,,163 7,,222 12, 2 5 5 9,,935 14,,968 3, 4 2 8 8, 1 7 0 11,.370 16,,112 1,,597 7,.306 12,-303 18-• 0 1 2 1 -374 , 16,- 7 1 0 13, 7 3 4 29, 070 C h a n g e in v a l u e Depreciation charges - G r o s s purchases, FOF 2 8 ,012 13 14 377 362 ,163 • 849 ,094 ,245 - 3 ,364 14 -18 458 476 ,968 ,332 ,495 ,827 16 , 1 1 2 -10 • 520 444 636 4 5 5 ,156 18 -10 506 517 ,012 ,559 ,714 ,273 29 070 - 2 6 ,362 713 • 080 739 ,442 8 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s 196 = Net investment Balance Sheet - 4 7 5 8 15 16 17 18 17 , 3 5 4 105 - 156 8 7 ,802 631 559 -72 ,778 ,604 ,671 ,497 2 6 6 10 ,881 ,718 ,264 ,101 3 8 7 12 ,848 ,600 ,375 , 127 322 19 - 1 9 • 161 - 7 ,,628 11 ,,533 -116 24 22 .540 34 ,811 12 ,271 24 ,373 44 ,073 19 , 7 0 0 700 5 5 ,• 1 2 0 79- 6 2 3 24, 503 875 364 472 1 ,1 2 9 - 3 5 , 751 -9, 998 25, 753 55, 5 8 2 83 690 28, 108 83, 311 133- 6 6 8 50, 357 - 1 2 , 131 3, 6 6 4 15, 7 9 5 23 4,,190 - 2 ,021 1 ,628 1 ,930 , 11,.145 4,,797 8, 108 53, 708 24 14,,430 2 7 ,431 33 ,857 39, 0 0 2 6, 3 9 8 13,-423 22, 559 58, 587 185,.662 213,093 2 4 6 ,950 285, 952 292, 350 305, 773 328, 332 386, 919 25 Data are in millions of dollars. flow? basis R e v a l . of l i f e i n s u r . a n d p e n s i o n fund r e s e r v e s C h a n g e in v a l u e -Net claims issued 9 10 11 12 Change 20 21 22 Flows in in v a l u e issued the value 13 14 15 16 17 basis 18 of 20 C h a n g e in v a l u e -Net purchases 21 S e p t e m b e r 1991 Private Financial Private Institutions 84 Annual Factors Accounting for Change 1 G r o s s i n v e s t m e n t of p r i v a t e financial i n s t i t u t i o n s , from F l o w of F u n d s A c c o u n t s 2 5 4 5 Capital expenditures Net financial investment N e t a c q . of f i n a n . a s s e t s - N e t i n c r . in l i a b i l i t i e s + Corporate Capital Financial Institutions Worth Annual 1986 1987 Private 7 - Net Flows 1985 6 in equity consump. = Net investment Balance Sheet 6,.411 36,• 0 0 7 -29, 596 774, 651 8 0 4 ,,247 1988 Financial 1989 Flows 1990 Institutions 23, 933 19,,895 5,,667 2 8 ,,008 4 2 ,,880 1 4 0 ,,575 - 1 6 ,,642 9 0 1 ,,838 9 1 8 ,480 4 4 ,,867 - 2 4 ,,972 6 0 4 ,844 6 2 9 ,816 5 1 ,.405 - 4 5 ,738 6 2 1 ,3 7 9 6 6 7 ,117 57, 659 - 2 9 , 651 6 6 2 ,,325 6 9 1 ,,976 62,,175 - 1 9 ,,295 4 0 7 ,982 4 2 7 ,277 2 3 4 5 issues 13,,585 11 ,613 14 ,593 3 ,258 2,,421 4 ,329 6 allowances 15,,311 17,,790 2 0 ,695 2 3 ,825 2 7 ,.594 3 0 ,896 7 16,,313 8 flow. basis 4 ,685 17 ,756 13 , 7 9 3 - 1 4 ,900 2,,835 9 10 11 R e v a l . of l i f e i n s u r . a n d pension fund reserves C h a n g e in v a l u e -Net claims issued 93 ,854 2 6 1 ,470 1 6 7 ,616 77 ,777 2 2 6 ,385 1 4 8 ,608 32 .258 176 ,955 144 ,697 99 ,546 2 8 5 ,880 186 ,334 2 1 7 ,,070 3 7 0 ,628 ,558 153 : - 1 0 1 ,247 , 75 • 0 9 1 1 7 6 ,338 9 10 11 12 13 14 R e v a l . of m u t u a l f u n d C h a n g e in v a l u e -Shares issued 19 , 1 7 2 1 0 3 ,551 8 4 ,379 14 , 2 4 3 173 ,243 159 ,000 - 2 7 ,222 4 6 ,671 73 , 8 9 3 17 ,001 18 , 1 1 8 1 ,117 35 ,517 76 , 8 5 5 41 , 338 - 3 6 ,596 24 ,756 61 ,352 12 13 14 -380 23 ,792 2 0 .695 4 4 ,867 6 ,018 33., 5 9 8 2 3 ,825 51 ,405 6 ,292 36 357 2 7 ,594 5 7 ,659 ,609 ,670 ,896 ,175 15 16 17 18 8 - shares 15 16 17 18 + Reval.of reproducible assets C h a n g e in v a l u e Depreciation charges -Gross purchases, FOF basis 19 + C h a n g e in t h e v a l u e land h o l d i n g s 20 21 + Other 24 = Change 25 Memo: Net worth Data are in held revaluations in net worth outstanding millions of ,178 ,518 ,311 ,007 4 26 17 40 ,154 ,939 ,790 ,575 -3 27 30 62 of + R e v a l . of c o r p . e q u i t i e s C h a n g e in v a l u e -Net purchases 23 -5 15 15 36 dollars. 1 ,234 1 ,525 1 ,967 1 ,709 1 3 7 ,851 1 8 4 ,703 4 6 ,852 1 2 3 ,446 1 7 4 ,301 5 0 ,855 32 ,847 64 , 8 6 5 32 ,018 139 ,447 136 .585 - 2 ,862 2 ,246 299 • 016 316 ,207 17 ,191 1 ,679 19 - 1 0 6 ,838 - 7 4 ,933 31 ,905 20 21 22 12 , 9 5 2 - 6 ,442 - 1 9 ,636 8 ,448 - 1 4 ,166 4 5 ,583 23 38 ,518 4 8 ,419 2 3 ,555 2 4 ,175 4 3 ,636 9 0 ,971 24 4 2 5 ,437 4 7 3 ,856 4 9 7 ,411 5 2 1 ,586 5 6 5 ,222 6 5 6 ,193 25
@FedFRASER