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B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Assets 71448.5 72931.6 77081.5 78265.0 84238.9 80588.7 80677.4 82810.9 84238.9 87026.1 88369.4 1

 2 Nonfinancial assets 24831.9 23657.3 23319.2 23251.3 24934.3 23733.5 24112.8 24533.6 24934.3 25846.6 26516.1 2

 3 Real estate 19879.5 18679.7 18326.8 18096.7 19638.8 18533.2 18875.6 19270.2 19638.8 20496.8 21123.5 3

 4 Households (2,3) 17390.4 16877.5 16299.4 15863.9 17280.5 16309.4 16640.1 16946.1 17280.5 18103.1 18631.1 4

 5 Nonprofit organizations 2489.1 1802.2 2027.4 2232.8 2358.3 2223.8 2235.5 2324.1 2358.3 2393.8 2492.5 5

 6 Equipment (nonprofits) (4) 268.5 279.5 290.6 304.6 315.1 307.7 309.7 312.2 315.1 317.2 319.2 6

 7 Intellectual property products (nonprofits) (4) 105.4 110.0 115.0 123.6 132.4 126.2 129.1 131.1 132.4 134.6 136.1 7

 8 Consumer durable goods (4) 4578.6 4588.1 4586.7 4726.4 4848.0 4766.3 4798.4 4820.1 4848.0 4897.9 4937.3 8

 9 Financial assets 46616.5 49274.3 53762.3 55013.7 59304.6 56855.2 56564.6 58277.3 59304.6 61179.5 61853.3 9

 10 Deposits 8043.5 7969.8 7924.7 8572.4 8997.8 8594.4 8605.0 8658.3 8997.8 8999.6 9025.5 10

 11 Foreign deposits 56.9 50.2 49.7 46.9 45.1 46.0 44.3 46.4 45.1 46.5 51.8 11

 12 Checkable deposits and currency 364.9 400.6 425.2 749.2 820.8 720.0 703.2 698.9 820.8 817.7 793.1 12

 13 Time and savings deposits 6115.0 6278.1 6395.8 6749.9 7114.3 6863.3 6922.2 6957.9 7114.3 7172.2 7203.4 13

 14 Money market fund shares 1506.8 1240.8 1054.1 1026.4 1017.6 965.1 935.3 955.1 1017.6 963.1 977.1 14

 15 Credit market instruments 5158.7 5589.0 5847.6 5467.4 5575.2 5414.7 5447.1 5482.2 5575.2 5535.8 5505.7 15

 16 Open market paper 6.0 22.7 21.1 19.4 19.0 19.9 19.2 19.1 19.0 20.0 15.4 16

 17 Treasury securities 193.7 868.5 1220.9 828.2 1108.9 944.2 990.8 1010.4 1108.9 1162.6 1192.8 17

 18 Savings bonds 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 180.9 18

 19 Other Treasury -0.3 677.3 1033.0 643.0 926.5 759.4 806.4 826.8 926.5 980.9 1012.0 19

 20 Agency- and GSE-backed securities 1050.2 347.1 264.2 227.0 75.1 139.2 144.8 116.6 75.1 14.0 32.4 20

 21 Municipal securities 1720.9 1827.9 1871.7 1806.8 1657.0 1780.8 1774.4 1709.0 1657.0 1662.6 1647.1 21

 22 Corporate and foreign bonds 1952.7 2299.2 2270.8 2399.6 2556.6 2347.0 2343.3 2460.8 2556.6 2522.5 2472.0 22

 23 Other loans and advances (5) 29.7 26.8 26.2 23.4 20.9 26.5 23.2 23.1 20.9 22.7 20.4 23

 24 Mortgages 110.9 108.0 94.2 91.0 70.5 85.7 80.4 75.6 70.5 66.5 61.7 24

 25 Consumer credit (student loans) 94.6 88.8 78.4 72.0 67.1 71.4 70.9 67.5 67.1 65.0 63.8 25

 26 Corporate equities (2) 5923.7 7487.4 8990.2 9045.8 10322.0 9771.5 9503.3 10214.4 10322.0 11250.8 11461.7 26

 27 Mutual fund shares (6) 3313.7 4119.9 4598.3 4452.3 5315.9 4979.4 4864.5 5155.1 5315.9 5786.1 5864.7 27

 28 Security credit 742.7 668.6 694.3 752.4 776.0 762.3 777.7 780.2 776.0 782.6 820.3 28

 29 Life insurance reserves 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1194.5 1197.7 29

 30 Pension entitlements 14061.8 15205.4 16745.0 17115.2 18075.1 17641.6 17588.7 17928.7 18075.1 18560.9 18736.6 30

 31 Equity in noncorporate business (7) 7556.4 6324.1 7019.1 7528.4 8186.3 7625.1 7744.5 8018.4 8186.3 8205.9 8373.8 31

 32 Miscellaneous assets 766.3 800.9 805.9 876.1 870.2 866.9 861.2 859.4 870.2 863.2 867.4 32

 33 Liabilities 14234.4 14011.7 13773.9 13568.3 13598.0 13527.2 13546.7 13474.8 13598.0 13547.0 13548.4 33

 34 Credit market instruments 13805.8 13533.9 13196.8 13017.0 12979.7 12943.5 12983.7 12886.7 12979.7 12925.1 12932.5 34

 35 Home mortgages (8) 10534.4 10377.0 9906.2 9677.8 9436.3 9593.9 9536.8 9448.7 9436.3 9386.6 9344.8 35

 36 Consumer credit 2651.4 2553.5 2648.1 2757.2 2924.3 2749.1 2799.0 2859.3 2924.3 2924.4 2966.2 36

 37 Municipal securities (9) 259.5 265.4 263.2 255.5 241.0 253.8 249.5 245.6 241.0 239.4 235.7 37

 38 Depository institution loans n.e.c. 26.4 10.2 61.0 12.4 66.3 34.8 88.0 23.1 66.3 63.1 73.0 38

 39 Other loans and advances 133.2 133.7 136.1 138.1 139.3 137.8 137.6 138.3 139.3 140.1 140.3 39

 40 Commercial mortgages (9) 200.9 194.1 182.2 176.1 172.5 174.2 172.9 171.7 172.5 171.6 172.5 40

 41 Security credit 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 307.9 302.6 41

 42 Trade payables (9) 236.7 252.7 274.1 288.2 289.7 289.8 290.5 290.5 289.7 288.1 285.7 42

 43 Deferred and unpaid life insurance premiums 27.0 22.1 24.7 24.3 24.9 26.2 28.0 28.4 24.9 25.9 27.6 43

 44 Net worth 57214.1 58920.0 63307.6 64696.7 70640.8 67061.5 67130.7 69336.1 70640.8 73479.1 74820.9 44

 Memo:

 Replacement-cost value of structures:

 45 Residential 12985.7 12680.7 12730.1 12846.1 13218.9 12845.9 12922.4 13068.5 13218.9 13451.5 13654.4 45

 46 Households 12780.0 12479.0 12526.6 12640.3 13010.0 12640.9 12717.0 12861.5 13010.0 13238.9 13438.6 46

 47 Nonprofit organizations 205.6 201.7 203.5 205.8 208.9 205.0 205.5 207.0 208.9 212.6 215.8 47

 48 Nonresidential (nonprofits) 1537.8 1487.7 1500.8 1554.1 1600.3 1565.2 1580.5 1590.7 1600.3 1619.6 1644.4 48

 49 Disposable personal income (SAAR) 10995.4 10937.2 11243.7 11787.4 12245.8 12085.7 12171.9 12205.1 12520.4 12296.9 12395.6 49

 Household net worth as percentage of

 50 disposable personal income (SAAR) 520.3 538.7 563.0 548.9 576.9 554.9 551.5 568.1 564.2 597.5 603.6 50

 Owners’ equity in household real

 51 estate (10) 6856.0 6500.5 6393.2 6186.1 7844.2 6715.6 7103.3 7497.4 7844.2 8716.5 9286.2 51

 Owners’ equity as percentage of

 52 household real estate (11) 39.4 38.5 39.2 39.0 45.4 41.2 42.7 44.2 45.4 48.1 49.8 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

(5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of nonfinancial noncorporate business (table B.103, line 33) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 35.

(11) Line 51 divided by line 4.
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114 Z.1, September 25, 2013

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 29881.5 27306.1 29194.1 30867.7 32622.9 31169.8 31442.6 32171.5 32622.9 32984.1 33662.2 1

 2 Nonfinancial assets 16944.7 13972.3 15160.4 16325.4 17121.8 16411.9 16502.0 16940.3 17121.8 17247.6 17686.3 2

 3 Real estate (1) 9700.0 6868.1 7759.8 8570.6 9056.2 8546.8 8592.4 8929.2 9056.2 9120.7 9521.8 3

 4 Equipment (2) 3894.2 3826.9 3887.7 4023.7 4146.9 4062.5 4084.7 4115.2 4146.9 4169.7 4191.1 4

 5 Intellectual property products (2) 1539.3 1572.1 1639.3 1719.8 1819.1 1750.9 1783.9 1806.1 1819.1 1842.1 1857.4 5

 6 Inventories (2) 1811.1 1705.3 1873.6 2011.2 2099.6 2051.6 2041.0 2089.8 2099.6 2115.1 2116.1 6

 7 Financial assets 12936.9 13333.8 14033.7 14542.3 15501.1 14757.9 14940.5 15231.1 15501.1 15736.5 15975.9 7

 8 Foreign deposits 24.7 31.5 40.6 34.8 13.3 21.8 10.4 9.9 13.3 28.7 39.5 8

 9 Checkable deposits and currency 14.2 155.0 234.6 269.0 363.4 285.7 317.6 349.4 363.4 407.7 385.8 9

 10 Time and savings deposits 381.9 488.8 548.7 563.0 584.9 573.8 568.9 577.9 584.9 593.3 596.8 10

 11 Money market fund shares 727.0 655.5 497.8 462.4 458.3 445.2 433.5 440.5 458.3 448.6 437.2 11

 12 Security RPs 7.2 7.9 12.1 12.6 10.4 14.0 13.9 11.2 10.4 10.0 11.8 12

 13 Commercial paper 57.3 56.0 68.0 68.0 60.5 58.5 58.0 60.4 60.5 57.2 57.4 13

 14 Treasury securities 30.5 43.0 48.0 43.2 50.4 41.7 51.7 56.2 50.4 41.7 48.1 14

 15 Agency- and GSE-backed securities 10.2 14.3 16.0 14.4 11.8 13.9 14.7 16.2 11.8 3.9 6.0 15

 16 Municipal securities 26.2 27.1 23.9 22.5 34.8 25.8 24.9 29.2 34.8 20.9 28.5 16

 17 Mortgages 33.6 29.5 28.0 28.2 28.4 28.2 28.3 28.3 28.4 28.4 28.5 17

 18 Consumer credit 56.0 53.8 46.2 48.5 48.5 47.2 47.3 47.8 48.5 42.0 42.0 18

 19 Trade receivables 2084.9 2053.9 2155.8 2238.0 2327.5 2335.5 2411.4 2422.1 2327.5 2430.9 2483.0 19

 20 Mutual fund shares (1) 106.3 162.0 186.8 165.9 181.7 180.8 174.3 180.1 181.7 190.4 190.1 20

 21 Miscellaneous assets 9376.9 9555.5 10127.0 10571.9 11327.3 10685.8 10785.8 11001.8 11327.3 11432.7 11621.2 21

 22 Liabilities 13225.1 12904.6 13227.9 13443.1 13974.8 13526.2 13616.7 13787.5 13974.8 14049.9 14191.8 22

 23 Credit market instruments 7573.3 7342.2 7473.3 7991.0 8686.9 8107.3 8241.8 8438.7 8686.9 8825.9 9026.7 23

 24 Commercial paper 131.5 58.4 82.9 116.3 130.3 127.6 132.1 136.0 130.3 140.1 147.2 24

 25 Municipal securities (3) 415.0 452.2 485.4 493.9 509.1 495.2 505.3 504.1 509.1 510.4 515.0 25

 26 Corporate bonds (4) 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 6077.4 26

 27 Depository institution loans n.e.c. 780.1 546.0 480.9 549.8 609.5 542.4 566.2 574.7 609.5 605.4 621.5 27

 28 Other loans and advances 1384.0 1139.1 948.3 1008.1 1039.8 992.5 986.7 1032.4 1039.8 1042.3 1065.3 28

 29 Mortgages 908.2 780.3 671.0 607.3 603.0 603.2 598.7 591.7 603.0 590.0 600.2 29

 30 Trade payables 1672.7 1590.2 1746.5 1765.4 1888.0 1794.0 1841.9 1870.6 1888.0 1913.6 1918.6 30

 31 Taxes payable 39.0 35.7 42.9 51.7 57.0 62.0 59.4 60.0 57.0 63.4 57.5 31

 32 Miscellaneous liabilities 3940.2 3936.5 3965.2 3635.0 3342.9 3562.9 3473.7 3418.2 3342.9 3246.9 3188.9 32

 33 Net worth (market value) 16656.4 14401.5 15966.2 17424.6 18648.1 17643.6 17825.9 18384.0 18648.1 18934.2 19470.5 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 166.1 163.5 166.3 168.4 169.1 167.3 167.2 168.0 169.1 172.0 174.5 34

 35 Nonresidential 7257.4 6882.9 7114.3 7456.1 7655.8 7500.2 7564.7 7605.2 7655.8 7744.0 7860.0 35

 36 Market value of equities outstanding 10016.6 12512.2 14370.7 14500.3 16118.8 15817.2 15367.3 16330.5 16118.8 17829.2 18077.9 36

 37 Debt/net worth (percent) (5) 45.5 51.0 46.8 45.9 46.6 46.0 46.2 45.9 46.6 46.6 46.4 37

 38 Debt/equities (percent) (6) 75.6 58.7 52.0 55.1 53.9 51.3 53.6 51.7 53.9 49.5 49.9 38

 39 Equities/net worth (percent) (7) 60.1 86.9 90.0 83.2 86.4 89.6 86.2 88.8 86.4 94.2 92.8 39

 With nonfinancial assets stated at historical cost:

 40 Assets (8) 23529.7 23980.1 25015.2 25992.5 27454.3 26377.1 26662.3 27084.8 27454.3 27839.6 28199.4 40

 41 Nonfinancial assets 10592.8 10646.4 10981.5 11450.2 11953.2 11619.1 11721.7 11853.7 11953.2 12103.1 12223.5 41

 42 Real estate 4032.6 4209.8 4379.6 4547.8 4738.9 4595.9 4641.3 4684.9 4738.9 4783.3 4844.8 42

 43 Equipment 3494.4 3463.8 3502.6 3608.6 3748.7 3643.1 3678.4 3711.9 3748.7 3785.1 3821.2 43

 44 Intellectual property products 1436.2 1480.1 1539.7 1609.9 1685.0 1628.3 1646.8 1665.6 1685.0 1704.8 1723.5 44

 45 Inventories 1629.5 1492.7 1559.5 1683.8 1780.6 1751.9 1755.2 1791.3 1780.6 1830.0 1834.1 45

 46 Net worth (historical cost) (9) 10304.6 11075.6 11787.3 12549.4 13479.5 12850.9 13045.5 13297.3 13479.5 13789.6 14007.6 46

 Memo:

 Historical-cost value of structures:

 47 Residential 79.0 80.7 81.6 82.6 84.2 83.0 83.3 83.7 84.2 84.7 85.3 47

 48 Nonresidential 3509.2 3682.7 3811.2 3953.7 4130.5 3995.6 4038.8 4083.0 4130.5 4173.0 4219.1 48

 49 Debt/net worth (percent) (10) 73.5 66.3 63.4 63.7 64.4 63.1 63.2 63.5 64.4 64.0 64.4 49

 (1) At market value.

 (2) At replacement (current) cost.

 (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

 (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

 (5) Line 23 divided by line 33.

 (6) Line 23 divided by line 36

 (7) Line 36 divided by line 33.

 (8) Sum of lines 7 and 41.

 (9) Line 40 less line 22.

 (10) Line 23 divided by line 46.
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Z.1, September 25, 2013 115

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Assets 13340.1 12039.3 12674.1 13256.6 13984.7 13361.7 13496.2 13786.8 13984.7 14018.0 14222.4 1

 2 Nonfinancial assets 9647.0 8463.2 8946.3 9509.5 10171.9 9604.3 9726.7 10002.3 10171.9 10189.9 10369.7 2

 3 Real estate (1) 8573.6 7408.5 7840.0 8340.4 8968.4 8417.9 8536.5 8799.7 8968.4 9015.6 9222.5 3

 4 Residential 4747.0 4349.9 4476.5 4659.1 5027.4 4715.8 4790.3 4928.7 5027.4 5187.6 5294.5 4

 5 Nonresidential 3826.6 3058.6 3363.4 3681.2 3940.9 3702.1 3746.2 3871.0 3940.9 3828.0 3928.0 5

 6 Equipment (2) 663.3 657.1 667.4 693.7 712.9 702.0 704.9 711.2 712.9 693.0 670.8 6

 7 Residential (3) 46.6 44.0 42.2 43.7 44.1 44.4 44.4 44.0 44.1 44.1 43.5 7

 8 Nonresidential 616.8 613.1 625.2 650.0 668.8 657.6 660.5 667.2 668.8 648.9 627.3 8

 9 Intellectual property products (2) 171.0 175.8 183.0 191.0 201.8 195.6 199.8 202.3 201.8 191.1 180.3 9

 10 Inventories (2) 239.0 221.9 256.0 284.4 288.8 288.7 285.5 289.1 288.8 290.1 296.1 10

 11 Financial assets 3693.1 3576.1 3727.8 3747.1 3812.9 3757.4 3769.5 3784.5 3812.9 3828.1 3852.7 11

 12 Checkable deposits and currency 519.4 534.3 531.5 529.5 543.0 532.0 534.8 538.0 543.0 545.0 548.4 12

 13 Time and savings deposits 358.1 353.3 356.2 360.4 364.7 360.9 361.5 362.5 364.7 366.0 368.4 13

 14 Money market fund shares 75.4 73.7 76.8 77.7 78.6 77.8 78.0 78.2 78.6 78.9 79.5 14

 15 Credit market instruments 95.8 89.1 95.8 96.9 98.0 97.0 97.2 97.4 98.0 98.4 99.0 15

 16 Treasury securities 51.8 46.1 48.1 48.6 49.2 48.7 48.8 48.9 49.2 49.4 49.7 16

 17 Municipal securities 4.9 5.1 5.6 5.7 5.8 5.7 5.7 5.7 5.8 5.8 5.8 17

 18 Mortgages 39.1 37.9 42.1 42.6 43.1 42.6 42.7 42.8 43.1 43.2 43.5 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 522.7 496.3 533.4 539.6 546.0 540.3 541.3 542.7 546.0 548.0 551.6 20

 21 Miscellaneous assets 2121.8 2029.3 2134.1 2143.1 2182.5 2149.4 2156.8 2165.9 2182.5 2191.7 2205.8 21

 22 Insurance receivables 111.5 101.7 131.4 119.8 134.9 122.4 126.4 130.1 134.9 135.7 136.5 22

 23 Equity investment in GSEs (4) 6.4 6.3 6.7 7.0 7.2 7.1 7.0 7.1 7.2 7.1 7.4 23

 24 Other 2003.9 1921.3 1996.0 2016.3 2040.5 2020.0 2023.5 2028.7 2040.5 2048.9 2061.9 24

 25 Liabilities 5794.4 5730.0 5670.9 5741.2 5817.0 5754.9 5770.0 5787.5 5817.0 5831.3 5867.9 25

 26 Credit market instruments 4093.2 3984.5 3946.3 3971.4 4039.6 3977.1 3991.7 4007.2 4039.6 4045.9 4080.0 26

 27 Depository institution loans n.e.c. 1046.1 944.0 923.7 980.4 1070.6 1008.5 1031.5 1047.8 1070.6 1075.4 1092.6 27

 28 Other loans and advances 177.3 172.0 170.6 171.2 180.6 172.8 174.5 177.0 180.6 180.6 180.7 28

 29 Mortgages 2869.9 2868.5 2852.0 2819.9 2788.4 2795.8 2785.7 2782.3 2788.4 2789.9 2806.6 29

 30 Trade payables 380.6 397.4 427.7 435.8 434.1 434.4 433.2 432.9 434.1 438.7 440.2 30

 31 Taxes payable 106.2 99.9 99.2 100.4 101.6 100.5 100.7 101.0 101.6 102.0 102.8 31

 32 Miscellaneous liabilities 1214.3 1248.1 1197.7 1233.6 1241.7 1242.8 1244.3 1246.5 1241.7 1244.6 1245.0 32

 33 Net worth (5) 7545.7 6309.3 7003.2 7515.3 8167.7 7606.8 7726.2 7999.3 8167.7 8186.7 8354.5 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 2881.7 2815.4 2839.6 2861.5 2875.3 2845.6 2846.2 2862.1 2875.3 2920.4 2959.2 34

 35 Nonresidential 1682.0 1586.0 1595.4 1646.1 1682.6 1657.1 1671.2 1678.5 1682.6 1724.6 1769.4 35

 36 Debt/net worth (percent) (6) 54.2 63.2 56.4 52.8 49.5 52.3 51.7 50.1 49.5 49.4 48.8 36

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 25. Included in table B.100, line 31.

(6) Line 26 divided by line 33.
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116 Z.1, September 25, 2013

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Change in net worth (1) -10704.5 1705.9 4387.6 1389.1 5944.1 2364.9 69.2 2205.3 1304.8 2838.3 1341.8 1

 2 Net investment 1135.9 925.2 1262.8 1496.4 1164.2 240.9 286.6 243.7 393.0 500.6 185.6 2

 3 Net physical investment 289.4 105.4 130.3 167.3 240.2 56.2 55.7 59.9 68.4 79.8 83.3 3

 4 Capital expenditures 1613.6 1429.3 1448.9 1509.6 1613.2 395.2 397.5 404.7 415.8 423.1 430.9 4

 5 - Consumption of fixed capital 1324.2 1323.8 1318.6 1342.2 1373.0 338.9 341.9 344.8 347.4 343.3 347.6 5

 6 Net lending (+) or net borrowing (-) 846.5 819.7 1132.5 1329.1 924.0 184.7 231.0 183.8 324.6 420.8 102.2 6

 7 Net acquisition of financial assets 704.9 640.5 889.3 1118.2 1018.4 141.2 255.5 171.6 450.1 369.8 103.7 7

 8 - Net increase in liabilities -141.6 -179.3 -243.2 -210.9 94.4 -43.5 24.6 -12.2 125.6 -51.0 1.4 8

 Holding gains on assets

 9 at market value (2) -11693.1 397.4 3015.2 166.5 4713.8 2146.9 -133.6 1810.5 890.0 2324.1 1052.8 9

 10 Real estate -3690.9 -1235.7 -376.3 -254.4 1502.0 424.5 329.3 378.5 369.7 836.0 602.3 10

 11 Corporate equities -3886.6 1572.1 1690.2 343.7 1639.2 828.9 -260.8 802.6 268.5 929.0 265.4 11

 12 Mutual fund shares -1336.0 471.7 250.8 -363.7 444.4 386.5 -165.6 136.1 87.4 166.0 -39.1 12

 13 Equity in noncorporate business -1258.0 -1162.4 507.6 564.2 656.7 89.2 118.2 277.0 172.3 9.7 166.7 13

 14 Life insurance reserves -88.7 35.7 19.0 -20.4 8.7 7.5 -6.3 8.0 -0.4 13.5 1.2 14

 15 Pension entitlements -1432.9 716.3 924.9 -102.8 462.8 410.2 -148.3 208.4 -7.5 369.9 56.3 15

 16 Equity investment under PPIP 0.0 -0.3 -1.0 -0.2 -0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) -26.8 -41.0 -85.4 22.2 -35.0 2.4 -4.9 -17.2 -15.4 -2.7 -14.0 17

 18 Consumer durable goods -32.0 -40.8 -88.3 17.9 -38.8 1.0 -5.6 -18.1 -16.1 -3.2 -14.2 18

 19 Equipment 3.9 -0.5 1.4 2.0 0.6 0.4 -0.7 0.3 0.7 -0.3 -0.1 19

 20 Intellectual property products 1.2 0.3 1.5 2.3 3.2 1.1 1.4 0.6 0.1 0.8 0.3 20

 21 Other volume changes (3) -120.5 424.3 195.0 -296.0 101.2 -25.3 -79.0 168.3 37.2 16.3 117.5 21

 Memo:

 22 Net worth outstanding (4) 57214.1 58920.0 63307.6 64696.7 70640.8 67061.5 67130.7 69336.1 70640.8 73479.1 74820.9 22

 23 Disposable personal income 10995.4 10937.2 11243.7 11787.4 12245.8 12085.7 12171.9 12205.1 12520.4 12296.9 12395.6 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 44.
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R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Change in net worth (1) -1926.8 -2254.9 1564.7 1458.4 1223.5 219.0 182.3 558.1 264.1 286.1 536.3 1

 2 Net investment -976.6 398.6 55.0 -158.2 121.6 29.6 7.8 38.9 45.2 46.7 29.5 2

 3 Net physical investment 302.7 -87.8 187.6 258.9 327.6 88.2 75.3 89.1 75.1 72.8 74.2 3

 4 Capital expenditures 1358.6 1009.3 1238.9 1337.2 1504.1 375.1 373.3 382.0 373.8 374.1 384.2 4

 5 - Consumption of fixed capital 1092.9 1090.4 1092.4 1134.4 1186.6 291.8 295.5 298.3 300.8 304.6 307.2 5

 6 - Inventory valuation adjustment -37.0 6.7 -41.0 -56.0 -10.0 -4.9 2.5 -5.5 -2.1 -3.3 2.7 6

 7 Net lending (+) or net borrowing (-) -943.3 551.0 145.5 55.4 194.0 14.4 59.6 48.7 71.3 37.9 41.5 7

 8 Net acquisition of financial assets -604.2 302.4 633.2 513.2 891.5 152.4 206.3 258.8 274.0 172.9 226.0 8

 9 - Net increase in liabilities 339.1 -248.5 487.8 457.8 697.5 138.0 146.7 210.1 202.7 135.0 184.6 9

 10 Net corporate equity issues -336.0 -64.6 -278.0 -472.5 -400.0 -72.9 -127.0 -98.9 -101.1 -64.0 -86.2 10

 Holding gains on assets

 11 at market value (2) -1178.6 -2875.2 846.1 750.3 424.2 -29.1 21.4 326.1 105.9 55.9 365.5 11

 12 Real estate -1123.4 -2895.7 832.5 758.3 406.8 -44.5 27.5 319.8 103.9 46.8 365.4 12

 13 Mutual fund shares -55.2 20.4 13.6 -8.1 17.4 15.3 -6.1 6.3 2.0 9.1 0.1 13

 Holding gains on assets less

 14 liabilities at current cost (2) 7.9 165.6 3.7 135.7 53.2 19.0 -50.8 78.9 6.1 -25.3 -36.3 14

 15 Equipment 104.8 -10.1 48.4 62.2 21.1 12.6 -4.4 6.1 6.7 -3.6 -4.6 15

 16 Intellectual property products 12.8 3.0 22.2 27.6 45.2 17.7 19.6 8.8 -0.8 8.8 2.3 16

 17 Inventories (3) -66.5 39.9 63.6 42.5 7.4 11.1 -25.3 19.7 1.8 4.0 -9.0 17

 18 Direct investment abroad -144.4 -35.7 -145.6 -7.1 -24.9 -25.1 -28.1 54.3 -26.1 -47.8 -27.2 18

 19 - Foreign direct investment in U.S. -101.2 -168.5 -15.0 -10.6 -4.4 -2.7 12.6 10.1 -24.4 -13.3 -2.3 19

 20 Other volume changes (4) 220.5 56.2 659.9 730.6 624.4 199.5 203.8 114.2 106.9 208.9 177.6 20

 Memo:

 21 Net worth outstanding (5) 16656.4 14401.5 15966.2 17424.6 18648.1 17643.6 17825.9 18384.0 18648.1 18934.2 19470.5 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 33.
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R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Change in net worth (1) -1543.1 -1236.4 693.8 512.2 652.4 91.5 119.4 273.1 168.4 19.0 167.8 1

 2 Net capital transfers paid -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 -4.9 0.0 0.0 2

 3 Net investment -295.4 -64.4 194.2 -51.6 -0.4 0.1 -0.1 -2.2 1.8 11.3 0.8 3

 4 Net physical investment 52.6 -12.8 -10.8 -0.9 9.3 3.4 2.9 0.3 2.7 10.3 12.9 4

 5 Capital expenditures 307.1 240.2 241.0 255.8 273.8 68.7 68.7 66.7 69.7 78.0 81.4 5

 6 - Consumption of fixed capital 254.5 253.0 251.8 256.8 264.5 65.3 65.9 66.4 66.9 67.7 68.5 6

 7 Net lending (+) or net borrowing (-) -49.3 18.8 18.6 2.5 -4.3 -3.4 -2.9 -0.3 2.2 -10.3 -12.9 7

 8 Net acquisition of financial assets 97.2 -117.0 151.7 19.3 65.8 10.3 12.2 15.0 28.3 15.2 24.6 8

 9 - Net increase in liabilities 146.6 -135.8 133.1 16.8 70.1 13.6 15.0 15.3 26.1 25.6 37.5 9

 10 Proprietor’s net investment (2) -298.7 -70.4 186.5 -53.2 -5.3 0.1 -0.1 -2.2 -3.1 11.3 0.8 10

 11 Holding gains on real estate (3) -1259.3 -1166.0 449.2 513.7 635.5 77.8 118.9 263.1 175.7 46.9 204.9 11

 12 Residential -900.6 -387.2 143.6 197.2 383.2 58.7 76.8 140.3 107.4 160.6 106.4 12

 13 Nonresidential -358.7 -778.9 305.5 316.5 252.4 19.1 42.1 122.8 68.3 -113.7 98.5 13

 14 Holding gains on assets at current cost (3) 16.2 -4.9 44.7 50.4 26.2 13.7 0.6 12.2 -0.3 -39.2 -37.9 14

 15 Residential equipment 0.1 -2.7 -2.3 1.3 1.0 0.8 0.1 -0.2 0.3 0.4 -0.3 15

 16 Nonresidential equipment 21.9 6.2 8.8 15.6 11.3 6.2 0.7 4.8 -0.5 -21.4 -23.1 16

 17 Intellectual property products 1.5 0.2 2.0 2.4 4.6 3.6 2.6 0.8 -2.3 -12.0 -12.0 17

 18 Inventories -7.3 -8.6 36.2 31.1 9.3 3.1 -2.8 6.8 2.2 -6.2 -2.5 18

 19 Other volume changes (4) -1.3 5.0 13.4 1.3 -4.0 -0.1 0.0 0.0 -4.0 0.0 0.0 19

 Memo:

 20 Net worth outstanding (5) 7545.7 6309.3 7003.2 7515.3 8167.7 7606.8 7726.2 7999.3 8167.7 8186.7 8354.5 20

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 19).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 33.