Annual

F.103 Nonfinancial Corporate Business


The Financial Accounts (formerly known as the Flow of Funds accounts) are a set of financial accounts used to track the sources and uses of funds by sector. They are a component of a system of macroeconomic accounts including the National Income and Product accounts (NIPA) and balance of payments accounts, all of which serve as a comprehensive set of information on the economy’s performance.(1) Some important inferences that can be drawn from the Financial accounts are the financial strength of a given sector, new economic trends, changes in the composition of wealth, and development of new financial instruments over time.(1)
Sectors are compiled into three categories: households, nonfinancial businesses, and banks. The sources of funds for a sector are its internal funds (savings from income after consumption) and external funds (loans from banks and other financial intermediaries). (1) Funds for a given sector are used for its investments in physical and financial assets. Dividing sources and uses of funds into two categories helps the staff of the Federal Reserve System pay particular attention to external sources of funds and financial uses of funds.(2) One example is whether households are borrowing more from banks—or in other words, whether household debt is rising. Another example might be whether banks are using more of their funds to provide loans to consumers. Transactions within a sector are not shown in the accounts; however, transactions between sectors are.(2) Monitoring the external flows of funds provides insights into a sector’s health and the performance of the economy as a whole.
Data for the Financial accounts are compiled from a large number of reports and publications, including regulatory reports such as those submitted by banks, tax filings, and surveys conducted by the Federal Reserve System.(2) The Financial accounts are published quarterly as a set of tables in the Federal Reserve’s Z.1 statistical release.
(1) Teplin, Albert M. “The U.S. Flow of Funds Accounts and Their Uses.” Federal Reserve Bulletin, July 2001; http://www.federalreserve.gov/pubs/bulletin/2001/0701lead.pdf.
(2) Board of Governors of the Federal Reserve System. “Guide to the Flow of Funds Accounts.” 2000, http://www.federalreserve.gov/apps/fof/.

For questions on the data, please contact the data source: https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/z1/%
For questions on FRED functionality, please contact: https://fred.stlouisfed.org/contactus/


   

Please select a date range

    1946    
 
 
    2025
Millions of U.S. Dollars
Line Name 2025 Preceding
Period
Year Ago
from Period
line 1
Profits before tax
2,784,220 2,920,185 2,920,185
line 2
- Taxes on corporate income
536,966 540,201 540,201
line 3
- Net dividends
1,401,021 1,539,583 1,539,583
line 4
+ Inventory valuation adjustment (IVA)
-56,794 -8,915 -8,915
line 5
+ Capital consumption allowance
2,420,234 2,010,072 2,010,072
line 6
+ Foreign earnings retained abroad
-22,734 92,850 92,850
line 7
- Net Capital transfers paid
2,761 -16,750 -16,750
line 8
= Gross savings less net capital transfers paid
3,184,179 2,951,157 2,951,157
line 9
Gross investment
2,976,696 2,918,370 2,918,370
line 10
Capital expenditures
3,075,668 2,956,056 2,956,056
line 11
Fixed investment
3,072,842 2,914,283 2,914,283
line 12
Inventory change + IVA
6,927 44,993 44,993
line 13
Nonproduced nonfinancial assets
-4,101 -3,220 -3,220
line 14
Net lending (+) or net borrowing (-)
-98,972 -37,686 -37,686
line 15
Net acquisition of financial assets
1,396,240 321,766 321,766
line 16
Foreign deposits
8,837 -40,679 -40,679
line 17
Checkable deposits and currency
269,571 300,557 300,557
line 18
Time and savings deposits
10,734 -20,682 -20,682
line 19
Money market fund shares
135,877 88,485 88,485
line 20
Security repurchase agreements
29,452 18,694 18,694
line 21
Debt securities
39,727 -8,157 -8,157
line 22
Commercial paper
16,998 -19,520 -19,520
line 23
Treasury securities
17,501 10,995 10,995
line 24
Agency- and GSE-backed securities
4,993 2,857 2,857
line 25
Municipal securities
258 707 707
line 26
Loans
-2,277 3,883 3,883
line 27
Mortgages
220 218 218
line 28
Consumer credit
0 0 0
line 29
Corporate equities
-197,629 -324,231 -324,231
line 30
Mutual fund shares
-24,380 42,788 42,788
line 31
Trade receivables
413,988 142,044 142,044
line 32
U.S. direct investment abroad
308,181 247,806 247,806
line 33
Miscellaneous assets
406,030 -128,997 -128,997
line 34
Net increase in liabilities
1,504,118 523,201 523,201
line 35
Debt securities
269,857 264,747 264,747
line 36
Commercial paper
20,879 -21,646 -21,646
line 37
Municipal securities
15,318 13,057 13,057
line 38
Corporate bonds
202,643 257,557 257,557
line 39
Loans
299,203 182,622 182,622
line 40
Depository institution loans n.e.c.
86,605 34,653 34,653
line 41
Other loans and advances
128,140 110,438 110,438
line 42
Mortgages
67,309 35,656 35,656
line 43
Corporate equities
-304,066 -398,014 -398,014
line 44
Trade payables
407,827 81,732 81,732
line 45
Taxes payable
-57,709 -7,781 -7,781
line 46
Foreign direct investment in U.S.
270,102 257,958 257,958
line 47
Miscellaneous liabilities
627,147 -19,937 -19,937
line 48
Pension fund contributions payable
3,448 3,853 3,853
line 49
Claims of pension fund on sponsor
149,487 146,625 146,625
line 50
Other
474,212 -170,415 -170,415
line 51
Discrepancy
207,483 32,788 32,788
Memo:
line 52
Financing gap
-131,245 97,749 97,749
   

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