Quarterly

S11.1.t 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/
To easily map the Board series IDs to FRED series IDs, see the DDP-FRED Crosswalk available at: https://www.federalreserve.gov/data/data-download-fred-information.htm


   

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    Q4 1946    
 
 
    Q2 2026
Millions of U.S. Dollars
Line Name Period Value Preceding
Period
Year Ago
from Period
line 1
Profits before tax
Q2 2026 3,561,151 3,202,820 2,696,146
line 2
- taxes on corporate income
Q2 2026 737,902 638,183 514,546
line 3
- Net dividends
Q2 2026 1,621,666 1,489,173 1,295,897
line 4
+ Inventory valuation adjustment (IVA)
Q2 2026 -203,412 -168,696 -43,300
line 5
+ Capital consumption allowance
Q2 2026 2,510,374 2,469,458 2,402,566
line 6
+ Foreign earnings retained abroad
Q2 2026 210,825 65,507 -170,192
line 7
- Net capital transfers paid
Q2 2026 5,332 -558,933 1,907
line 8
= Gross savings less Net capital transfers paid
Q2 2026 3,714,038 4,000,666 3,072,870
line 9
Gross investment
Q2 2026 3,006,485 3,755,495 2,523,759
line 10
Capital expenditures
Q2 2026 3,253,581 3,200,903 2,993,219
line 11
Fixed investment
Q2 2026 3,338,558 3,244,698 3,041,868
line 12
Inventory change + IVA
Q2 2026 -81,925 -26,317 -44,602
line 13
Nonproduced nonfinancial assets
Q2 2026 -3,052 -17,478 -4,048
line 14
Net lending (+) or net borrowing (-)
Q2 2026 -247,096 554,592 -469,460
line 15
Net acquisition of financial assets
Q2 2026 3,696,954 3,550,609 436,593
line 16
Foreign deposits
Q2 2026 4,680 -4,916 4,968
line 17
Checkable deposits and currency
Q2 2026 772,501 16,309 -116,004
line 18
Time and savings deposits
Q2 2026 131,036 96,952 -49,404
line 19
Money market fund shares
Q2 2026 85,716 60,565 53,288
line 20
Security repurchase agreements
Q2 2026 112,708 77,936 17,112
line 21
Debt securities
Q2 2026 119,785 40,885 7,216
line 22
Commercial paper
Q2 2026 150,469 90,001 2,784
line 23
Treasury securities
Q2 2026 -23,864 -39,516 3,492
line 24
Agency- and GSE-backed securities
Q2 2026 -7,312 -12,592 1,268
line 25
Municipal securities
Q2 2026 1,024 1,360 1,844
line 26
Loans
. . . .
line 27
Mortgages
Q2 2026 8,688 8,364 7,460
line 28
Consumer credit
Q2 2026 0 0 0
line 29
Corporate equities
Q2 2026 -172,328 -172,328 -168,720
line 30
Mutual fund shares
Q2 2026 -24,380 -24,380 -24,380
line 31
Trade receivables
Q2 2026 1,153,644 969,275 272,320
line 32
U.S. direct investment abroad
Q2 2026 523,708 441,591 -141,792
line 33
Miscellaneous assets
Q2 2026 982,247 2,060,592 541,729
line 34
Net increase in liabilities
Q2 2026 3,073,578 2,502,521 958,813
line 35
Debt securities
Q2 2026 202,808 646,036 151,381
line 36
Commercial paper
Q2 2026 -129,604 144,096 155,553
line 37
Municipal securities
Q2 2026 5,412 18,252 43,360
line 38
Corporate bonds
Q2 2026 333,208 481,812 -126,924
line 39
Loans
. . . .
line 40
Depository institution loans n.e.c.
Q2 2026 229,396 308,404 235,800
line 41
Other loans and advances
Q2 2026 284,195 111,198 189,676
line 42
Mortgages
Q2 2026 65,701 92,860 72,881
line 43
Corporate equities
Q2 2026 612,836 205,068 -372,652
line 44
Trade payables
Q2 2026 687,619 943,548 288,528
line 45
Taxes payable
Q2 2026 57,333 15,631 -453,132
line 46
Foreign direct investment in U.S.
Q2 2026 273,937 315,996 287,236
line 47
Miscellaneous liabilities
Q2 2026 1,463,013 247,889 335,955
line 48
Pension fund contributions payable
Q2 2026 13,088 8,856 236
line 49
Claims of pension fund on sponsor
Q2 2026 -85,990 -84,327 -106,403
line 50
Other
Q2 2026 1,535,915 323,360 442,122
line 51
Discrepancy
Q2 2026 707,553 245,171 549,112
Memo:
line 52
Financing gap
Q2 2026 -249,632 -734,256 -249,844
   

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