Annual

R.103 Change in Net Worth 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/%
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    1945    
 
 
    2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
Change in net worth 		2025 3,923,481 Millions of U.S. Dollars 1,499,796 Millions of U.S. Dollars 1,499,796 Millions of U.S. Dollars Mil. of U.S. $
line 2
Net investment 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 3
Net physical investment 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 4
Capital expenditures 		2025 3,078,261 Millions of U.S. Dollars 2,956,056 Millions of U.S. Dollars 2,956,056 Millions of U.S. Dollars Mil. of U.S. $
line 5
- Consumption of fixed capital 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 6
- Inventory valuation adjustment 		2025 -51,048 Millions of U.S. Dollars -8,915 Millions of U.S. Dollars -8,915 Millions of U.S. Dollars Mil. of U.S. $
line 7
Net lending (+) or net borrowing (-) 		2025 -189,420 Millions of U.S. Dollars -138,208 Millions of U.S. Dollars -138,208 Millions of U.S. Dollars Mil. of U.S. $
line 8
Net acquisition of financial assets 		2025 915,065 Millions of U.S. Dollars 328,887 Millions of U.S. Dollars 328,887 Millions of U.S. Dollars Mil. of U.S. $
line 9
- Net increase in liabilities 		2025 1,141,586 Millions of U.S. Dollars 639,293 Millions of U.S. Dollars 639,293 Millions of U.S. Dollars Mil. of U.S. $
line 10
Net corporate equity issues 		2025 -332,964 Millions of U.S. Dollars -406,465 Millions of U.S. Dollars -406,465 Millions of U.S. Dollars Mil. of U.S. $
line 11
Holding gains on assets less at market value 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 12
Real estate 		2025 139,790 Millions of U.S. Dollars -237,551 Millions of U.S. Dollars -237,551 Millions of U.S. Dollars Mil. of U.S. $
line 13
Corporate equities 		2025 506,234 Millions of U.S. Dollars 670,881 Millions of U.S. Dollars 670,881 Millions of U.S. Dollars Mil. of U.S. $
line 14
Mutual fund shares 		2025 53,839 Millions of U.S. Dollars 37,395 Millions of U.S. Dollars 37,395 Millions of U.S. Dollars Mil. of U.S. $
line 15
Holding gains on assets less liabilities at current cost 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 16
Equipment 		2025 227,273 Millions of U.S. Dollars 94,209 Millions of U.S. Dollars 94,209 Millions of U.S. Dollars Mil. of U.S. $
line 17
Intellectual property products 		2025 133,703 Millions of U.S. Dollars 91,300 Millions of U.S. Dollars 91,300 Millions of U.S. Dollars Mil. of U.S. $
line 18
Inventories 		2025 56,612 Millions of U.S. Dollars 24,408 Millions of U.S. Dollars 24,408 Millions of U.S. Dollars Mil. of U.S. $
line 19
Direct investment abroad 		2025 2,099,040 Millions of U.S. Dollars 229,484 Millions of U.S. Dollars 229,484 Millions of U.S. Dollars Mil. of U.S. $
line 20
- Foreign direct investment in U.S. 		2025 2,076,631 Millions of U.S. Dollars 2,333,787 Millions of U.S. Dollars 2,333,787 Millions of U.S. Dollars Mil. of U.S. $
line 21
Other volume changes 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
Memo:
line 22
Net worth outstanding 		2025 36,931,855 Millions of U.S. Dollars 33,008,375 Millions of U.S. Dollars 33,008,375 Millions of U.S. Dollars Mil. of U.S. $
   

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