Annual

B.103 Balance Sheet of 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/

   

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    1945    
 
 
    2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
With nonfinancial assets stated at either market value or replacement cost:
line 1
Assets 		2025 68,295,243 Millions of U.S. Dollars 62,983,634 Millions of U.S. Dollars 62,983,634 Millions of U.S. Dollars Mil. of U.S. $
line 2
Nonfinancial assets 		2025 31,621,061 Millions of U.S. Dollars 30,290,347 Millions of U.S. Dollars 30,290,347 Millions of U.S. Dollars Mil. of U.S. $
line 3
Real estate 		2025 16,133,076 Millions of U.S. Dollars 15,694,221 Millions of U.S. Dollars 15,694,221 Millions of U.S. Dollars Mil. of U.S. $
line 4
Equipment 		2025 7,211,456 Millions of U.S. Dollars 6,779,301 Millions of U.S. Dollars 6,779,301 Millions of U.S. Dollars Mil. of U.S. $
line 5
Intellectual property products 		2025 4,583,890 Millions of U.S. Dollars 4,242,631 Millions of U.S. Dollars 4,242,631 Millions of U.S. Dollars Mil. of U.S. $
line 6
Inventories 		2025 3,692,639 Millions of U.S. Dollars 3,574,194 Millions of U.S. Dollars 3,574,194 Millions of U.S. Dollars Mil. of U.S. $
line 7
Financial assets 		2025 36,674,182 Millions of U.S. Dollars 32,693,287 Millions of U.S. Dollars 32,693,287 Millions of U.S. Dollars Mil. of U.S. $
line 8
Foreign deposits 		2025 213,934 Millions of U.S. Dollars 205,097 Millions of U.S. Dollars 205,097 Millions of U.S. Dollars Mil. of U.S. $
line 9
Checkable deposits and currency 		2025 2,446,695 Millions of U.S. Dollars 2,177,124 Millions of U.S. Dollars 2,177,124 Millions of U.S. Dollars Mil. of U.S. $
line 10
Time and savings deposits 		2025 424,050 Millions of U.S. Dollars 413,316 Millions of U.S. Dollars 413,316 Millions of U.S. Dollars Mil. of U.S. $
line 11
Money market fund shares 		2025 1,098,101 Millions of U.S. Dollars 962,224 Millions of U.S. Dollars 962,224 Millions of U.S. Dollars Mil. of U.S. $
line 12
Security repurchase agreements 		2025 75,164 Millions of U.S. Dollars 45,712 Millions of U.S. Dollars 45,712 Millions of U.S. Dollars Mil. of U.S. $
line 13
Debt securities 		2025 434,759 Millions of U.S. Dollars 389,260 Millions of U.S. Dollars 389,260 Millions of U.S. Dollars Mil. of U.S. $
line 14
Commercial paper 		2025 207,312 Millions of U.S. Dollars 190,314 Millions of U.S. Dollars 190,314 Millions of U.S. Dollars Mil. of U.S. $
line 15
Treasury securities 		2025 141,827 Millions of U.S. Dollars 120,175 Millions of U.S. Dollars 120,175 Millions of U.S. Dollars Mil. of U.S. $
line 16
Agency- and GSE-backed securities 		2025 45,976 Millions of U.S. Dollars 40,058 Millions of U.S. Dollars 40,058 Millions of U.S. Dollars Mil. of U.S. $
line 17
Municipal securities 		2025 25,796 Millions of U.S. Dollars 25,316 Millions of U.S. Dollars 25,316 Millions of U.S. Dollars Mil. of U.S. $
line 18
Loans 		2025 142,806 Millions of U.S. Dollars 145,082 Millions of U.S. Dollars 145,082 Millions of U.S. Dollars Mil. of U.S. $
line 19
Mortgages 		2025 48,334 Millions of U.S. Dollars 48,114 Millions of U.S. Dollars 48,114 Millions of U.S. Dollars Mil. of U.S. $
line 20
Consumer credit 		2025 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars Mil. of U.S. $
line 21
Corporate equities 		2025 3,585,860 Millions of U.S. Dollars 3,260,492 Millions of U.S. Dollars 3,260,492 Millions of U.S. Dollars Mil. of U.S. $
line 22
Mutual fund shares 		2025 432,175 Millions of U.S. Dollars 405,365 Millions of U.S. Dollars 405,365 Millions of U.S. Dollars Mil. of U.S. $
line 23
Trade receivables 		2025 5,800,757 Millions of U.S. Dollars 5,386,769 Millions of U.S. Dollars 5,386,769 Millions of U.S. Dollars Mil. of U.S. $
line 24
U.S. direct investment abroad 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 25
Miscellaneous assets 		2025 11,697,789 Millions of U.S. Dollars 11,217,337 Millions of U.S. Dollars 11,217,337 Millions of U.S. Dollars Mil. of U.S. $
line 26
Liabilities 		2025 31,173,307 Millions of U.S. Dollars 29,929,452 Millions of U.S. Dollars 29,929,452 Millions of U.S. Dollars Mil. of U.S. $
line 27
Debt securities 		2025 8,787,960 Millions of U.S. Dollars 8,518,103 Millions of U.S. Dollars 8,518,103 Millions of U.S. Dollars Mil. of U.S. $
line 28
Commercial paper 		2025 217,192 Millions of U.S. Dollars 196,313 Millions of U.S. Dollars 196,313 Millions of U.S. Dollars Mil. of U.S. $
line 29
Municipal securities 		2025 652,557 Millions of U.S. Dollars 637,239 Millions of U.S. Dollars 637,239 Millions of U.S. Dollars Mil. of U.S. $
line 30
Corporate bonds 		2025 7,393,445 Millions of U.S. Dollars 7,190,802 Millions of U.S. Dollars 7,190,802 Millions of U.S. Dollars Mil. of U.S. $
line 31
Loans 		2025 5,391,807 Millions of U.S. Dollars 5,182,323 Millions of U.S. Dollars 5,182,323 Millions of U.S. Dollars Mil. of U.S. $
line 32
Depository institution loans n.e.c. 		2025 1,102,480 Millions of U.S. Dollars 1,135,824 Millions of U.S. Dollars 1,135,824 Millions of U.S. Dollars Mil. of U.S. $
line 33
Other loans and advances 		2025 2,796,885 Millions of U.S. Dollars 2,638,516 Millions of U.S. Dollars 2,638,516 Millions of U.S. Dollars Mil. of U.S. $
line 34
Mortgages 		2025 1,454,167 Millions of U.S. Dollars 1,386,858 Millions of U.S. Dollars 1,386,858 Millions of U.S. Dollars Mil. of U.S. $
line 35
Trade payables 		2025 4,341,808 Millions of U.S. Dollars 3,933,981 Millions of U.S. Dollars 3,933,981 Millions of U.S. Dollars Mil. of U.S. $
line 36
Taxes payable 		2025 184,214 Millions of U.S. Dollars 241,923 Millions of U.S. Dollars 241,923 Millions of U.S. Dollars Mil. of U.S. $
line 37
Foreign direct investment in U.S. 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 38
Miscellaneous liabilities 		2025 12,189,912 Millions of U.S. Dollars 11,720,514 Millions of U.S. Dollars 11,720,514 Millions of U.S. Dollars Mil. of U.S. $
line 39
Net worth (market value) 		2025 37,121,937 Millions of U.S. Dollars 33,054,182 Millions of U.S. Dollars 33,054,182 Millions of U.S. Dollars Mil. of U.S. $
Memo:
Replacement-cost value of structures:
line 40
Residential 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 41
Nonresidential 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 42
Market value of equities outstanding 		2025 71,863,086 Millions of U.S. Dollars 62,708,835 Millions of U.S. Dollars 62,708,835 Millions of U.S. Dollars Mil. of U.S. $
line 43
Debt/net worth (percent) (lines 27+31/line 39) 		2025 38.09471 Percent 41.38448 Percent 41.38448 Percent %
line 44
Debt/equities (percent) (lines 27+31/line 42) 		2025 16.07269 Percent 17.83709 Percent 17.83709 Percent %
line 45
Equities/net worth (percent) (line 42/line 39) 		2025 237.01515 Percent 232.01363 Percent 232.01363 Percent %
With nonfinancial assets stated at historical cost:
line 46
Assets (sum of lines 7 and 47) 		2025 58,660,447 Millions of U.S. Dollars 53,505,488 Millions of U.S. Dollars 53,505,488 Millions of U.S. Dollars Mil. of U.S. $
line 47
Nonfinancial assets 		2025 21,986,265 Millions of U.S. Dollars 20,812,201 Millions of U.S. Dollars 20,812,201 Millions of U.S. Dollars Mil. of U.S. $
line 48
Real estate 		2025 8,568,912 Millions of U.S. Dollars 8,159,214 Millions of U.S. Dollars 8,159,214 Millions of U.S. Dollars Mil. of U.S. $
line 49
Equipment 		2025 6,256,602 Millions of U.S. Dollars 5,955,740 Millions of U.S. Dollars 5,955,740 Millions of U.S. Dollars Mil. of U.S. $
line 50
Intellectual property products 		2025 4,123,477 Millions of U.S. Dollars 3,851,482 Millions of U.S. Dollars 3,851,482 Millions of U.S. Dollars Mil. of U.S. $
line 51
Inventories 		2025 3,037,274 Millions of U.S. Dollars 2,845,765 Millions of U.S. Dollars 2,845,765 Millions of U.S. Dollars Mil. of U.S. $
line 52
Net worth (historical cost) (line 46 less line 26) 		2025 27,487,140 Millions of U.S. Dollars 23,576,036 Millions of U.S. Dollars 23,576,036 Millions of U.S. Dollars Mil. of U.S. $
Memo:
Historical-cost value of structures:
line 53
Residential 		2025 171,096 Millions of U.S. Dollars 162,547 Millions of U.S. Dollars 162,547 Millions of U.S. Dollars Mil. of U.S. $
line 54
Nonresidential 		2025 7,638,847 Millions of U.S. Dollars 7,283,959 Millions of U.S. Dollars 7,283,959 Millions of U.S. Dollars Mil. of U.S. $
line 55
Debt/net worth (percent) (lines 27+31/line 52) 		2025 51.44767 Percent 58.02206 Percent 58.02206 Percent %
   

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