sources and uses of funds, nonfarm nonfinancial corporate ... · sources and uses of funds, nonfarm...

TABLE C—74.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1958-68[Billions of dollars]

Source or use of funds

Sources, total-

Internal sources l

Undistributed profits iCorporate inventory valuation ad-

justmentCapital consumption allowancesL

External sources

Stocks..BondsMortgagesBank loans n.e.cOther loansTrade debtProfits tax liabilityOther liabilities

Uses, total _..._-<-

Purchases of physical assets

Nonresidential fixed investment-Residential structuresChange in business inventories. _

Increase in financial assets

Liquid assetsDemand deposits and cur-

rencyTime depositsU.S. Government securitiesOpen-market paper.State and local obligations

Consumer creditTrade creditOther financial assets

Discrepancy (sources less uses)

1958

44.2

29.5

8.3

-.321.4

14.7

2.15.72.9-.3-.24.7

-2.62.4

40.5

27.3

28.41.4

-2.5

13.2

2.7

1.5.9.0

-.2.5

.68.31.7

3.7

1959

57.9

35.0

12.6

-.522.9

22.9

2.23.03.03.5-.35.52.43.6

53.1

36.9

31.11.74.1

16.2

5.6

-1.0-.46.6

J

.87.72.0

4.8

1960

48.1

34.4

10.0

.224.2

13.7

1.63.52.51.91.9.6

-2.24.0

43.7

39.0

34.91.13.0

4.7

-3.2

-.51.3

-5.41.7-.2

.45.32.2

4.3

1961

56.6

35.6

10.2

-.125.4

21.0

2.54.63.9.7.65.41.41.7

52.2

36.7

33.21.91.5

15.6

3.7

1.71.9-.2.4.0

.29.52.1

4.3

1962

64.9

41.8

12.4

.329.2

23.1

.64.64.53.0.0

4.6.6

5.2

60.0

44.0

37.02.34.7

16.0

3.5

-.93.7.5.6

-.3

.78.53.2

5.0

1963

67.1

43.9

13.6

-.530.8

23.2

l.*94.93.7.25.31.93.7

63.2

45.6

38 62.64.3

17.7

4.7

-.83.9

.2

1.08.13.9

3.8

1964

71.8

50.5

18.3

-.532.8

21.3

1.44.03.63.8.9

3.6.5

3.5

64.9

52.1

44.12.15.9

12.8

1.2

-2.33.2

-1.51.6.2

1.38.12.2

6.9

1965

93.1

56.6

23.1

-1.735.2

36.5

.05.43.910.6.69.12.24.6

85.8

62.8

52.82.07.9

23.1

1.7

-1.53.9

-1.6

'.5

1.215.15.1

7.2

1966

100.6

61.2

24.7

-1.838.2

39.4

1.210.24.28.41.47.3.26.5

92.5

77.1

61.61.114.4

15.5

1.9

,7

-~1.*22.01.0

1.211.31.0

8.0

1967

94.2

61.2

21.2

-1.141.2

33.0

2.314.74.56.41.42.6

-4.15.2

85.9

72.5

63.82.26.4

13.5

.6

-2.24.1

-2.5

-;!

.98.83.2

8.2

1968

110.4

63.1

22.0

-3.244.3

47.3

- . 812.95.89.63.65.73.76.9

103.5

76.9

68.02.36.5

26.6

10.1

1.32.21.84.5.4

1.714.8

.1

6.9

*The figures shown here for "internal sources," "undistributed profits," and "capital consumption allowances"differ from those shown for "cash flow, net of dividends," "undistributed profits," and "capital consumption allowances"in the gross corporate product table in the national income and product accounts of the Department of Commerce forthe following reasons: (1) these figures include, and the statistics in the gross corporate product table exclude, branchprofits remitted from foreigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, andthe gross corporate product figures include, the internal funds of corporations whose major activity is farming.

Source: Board of Governors of the Federal Reserve System.

264Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1970

T A B L E C-76.—Sources and uses of funds, nonfarm nonfinancial corporate business y 1959—69

[Billions of dollars]

Source or use of funds

Sources, total

Internal sources *

Undistributed profits1 _Corporate inventory valuation ad-

justmentCapital consumption allowances'.

External sources

StocksBondsMortgagesBank loans neeOther loansTrade debtProfits tax liabilityOther liabilities

Uses, total


Nonresidential fixed investment-Residential structuresChange in business inventories..


Liquid assets .Demand deposits and cur-

rencyTime depositsU.S. Government securitiesOpen-market paperState and local obligations

Consumer creditTrade creditOther financial assets

Discrepancy (sources less uses)

1959

57.9

35.0

12.6

- . 522.9

22.9

2.23.03.03.5

- . 35.52.43.6

53.1

36.9

31.11.74.1

16.2

5.6

- 1 . 04

6! 6- . 2

.7

.87.72.0

4.8

1960

48.1

34.4

10.0

.224.2

13.7

1.63.52.51.91.9.6

- 2 . 24.0

43.7

39.0

34.91.13.0

4.7

- 3 . 2

- . 51.3

- 5 . 41.7

- . 2

.45.32.2

4.3

1961

56.6

35.6

10.2

- . 125.4

21.0

2.54.63.9

5.41.41.7

52.2

36.7

33.21.91.5

15.6

3.7

1.71.9

- . 2.4.0

.29.52.1

4.3

1962

64.9

41.8

12.4

.329.2

23.1

.64.64.53.0

.04.6

.65.2

60.0

44.0

37.02.34.7

16.0

3.5

- . 93.7

.5

.6- . 3

.78.53.2

5.0

1963

67.1

43.9

13.6

- . 530.8

23.2

- . 33.94.93.7

.25.31.93.7

63.2

45.6

38.62.64.3

17.7

4.7

- . 83.9.5.9.2

1.08.13.9

3.8

1964

71.8

50.5

18.3

- . 532.8

21.3

1.44.03.63.8

.93.6

.53.5

64.9

52.1

44.12.15.9

12.8

1.2

- 2 . 33.2

- 1 . 51.6.2

1.38.12.2

6.9

1965

93.1

56.6

23.1

- 1 . 735.2

36.5

.05.43.9

10.6.6

9.12.24.6

85.8

62.8

52.82.07.9

23.1

1.7

- 1 . 53.9

- 1 . 6.5.5

1.215.15.1

7.2

1966

100.6

61.2

24.7

- 1 . 838.2

39.4

1.210.24.28.41 47.3

6! 5

92.5

77.1

61.61.1

14.4

15.5

1.9

7- . 7

- 1 . 22.01.0

1.211.3

1.0

8.0

1967

94.4

61.5

21.1

- 1 . 141.5

33.0

2.314.74.56.41 42.6

- 4 . 15.2

85.5

72.0

62.52 37.3

13.5

.0

- 2 24.1

- 3 . 11.5

- . 4

.98.83.8

9.0

1968

109.8

62.5

20.9

—3.344.9

47 3

g12! 95.89.63 65.73.76.9

103.5

76.9

67.52 47.0

26.6

10.1

1 32.21.84.5

.4

1.714.8

.1

6.3

1969

118 4

62.5

19.9

—5 448.0

56 0

4.312.14.3

10.96 2

10.98

6.5

111.2

87.0

76.92 97.2

24.2

2.3

5- 7 . 8—1 4

8.72.3

1.317.33.4

7.2

'The figures shown here for "internal sources," "undistributed profits," and "capital consumption allowances"differ from those shown for "cash flow, net of dividends," "undistributed profits." and "capital consumption allowances"in the gross corporate product table in the national income and product accounts of the Department of Commerce forthe following reasons: (1) these figures include, and the statistics in the gross corporate product table exclude branchprofits remitted from foreigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude andthe gross corporate product figures include, the internal funds of corporations whose major activity is farming. '


286

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1971

T A B L E B—76.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1960—70


Source or use of funds 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970

Sources, total

Internal sources »

Undistributed profits iCorporate inventory valuation ad-

justmentCapital consumption allowances^

External sources

StocksBonds 2MortgagesBank loans n.e.c.Other loansTrade debtProfits tax liabilityOther liabilities

Uses, total


Nonresidential fixed investment-Residential structuresChange in business inventories..


Liquid assetsDemand deposits and cur-

rency ._ _Time deposits..U.S. Government securitiesOpen-market paper.State and local obligations

Consumer credit.Trade creditOther financial assetss

Discrepancy (uses less sources)

48.1

34.4

10.0

.224.2

13.7

1.63.52.51.91.9.6

-2 .24.0

43.7

39.0

34.91.13.0

4.7

- 3 . 2

L3- 5 . 4

1.7- . 2

.45.32.2

- 4 . 3

56.6

35.6

10.2

- . 125.4

21.0

2.54.63.9

.7

.65.41.41.7

52.2

36.7

33.21.91.5

15.6

3.7

1.71.9

- . 2.4.0

.29.52.1

- 4 . 3

64.9

41.8

12.4

.329.2

23.1

.64.64.53.0.0

4.6.6

5.2

60.0

44.0

37.02.34.7

16.0

3.5

- . 93.7

.5

.6

.78.53.2

- 5 . 0

67.1

43.9

13.6

- . 530.8

23.2

l.*94.93.7

5*. 31.93.7

63.2

45.6

38.62.64.3

17.7

4.7

3.9.5.9.2

1.08.13.9

- 3 . 8

71.8

50.5

18.3

- . 532.8

21.3

1.44.03.63.8.9

3.6.5

3.5

64.9

52.1

44.12.15.9

12.8

1.2

- 2 . 33.2

-1 .51.6.2

1.38.12.2

- 6 . 9

93.1

56.6

23.1

-1 .735.2

36.5

.05.43.9

10.6.6

9.12.24.6

85.8

62.8

52.82.07.9

23.1

1.7

-1 .53.9

- 1 . 6.5.5

1.215.15.1

- 7 . 2

100.6

61.2

24.7

- 1 . 838.2

39.4

1.210.24.27.91.47.8

.26.5

92.5

77.1

61.61.1

14.4

15.5

1.9

.7— 7

-l.*22.01.01.2

11.31.0

- 8 . 0

96.6

61.5

21.1

-1 .141.5

35.2

2.314.74.56.41.44.9

-4 .75.6

86.5

72.0

62.52.37.3

14.6

2.1

.72.9

- 2 . 81.5

- . 2

.97.73.8

-10.1

108.0

61.7

19.9

- 3 . 345.1

46.3

12.95.88.83.6

10.12.13.8

101.7

76.1

67.42.36.4

25.6

8.6

1.61.91.74.4

-1 .1

1.713.91.4

- 6 . 3

118.1

59.5

15.8

- 5 . 549.2

58.6

4.312.14.8

11.07.0

19.7-1 .9

1.7

112.7

84.9

75.62.86.5

27.8

1.3

- . 9-9 .8-1 .7

8.65.1

1.317.38.0

- 5 . 4

105.5

61.5

12.3

- 4 . 553.8

44.0

6.820.35.31.25.25.5

- 3 . 3

3.1

103.7

84.278.33.32.6

19.5

8.9

- 1 . 012.8

- 3 . 2- 1 . 1

1.4

1.46.23.0

- 1 . 8

1 The figures shown here for internal sources, undistributed profits, and capital consumption allowances differ fromthose shown for cash flow, net of dividends, undistributed profits, and capital consumption allowances in the gross cor-porate product table in the national income and product accounts of the Department of Commerce for the following reasons:(1) these figures include, and the statistics in the gross corporate product table exclude, branch profits remitted fromforeigners net of corresponding U.S. remittances to foreigners; and (2) these figures exclude, and the gross corporateproduct figures include, the internal funds of corporations whose major activity is farming.

2 Foreign investment excludes amounts financed by bond issues abroad, and bond issues outside the U.S. are excludedfrom financial sources of funds above.


284


1972

TABLE C-76.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-72


Period

1946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

19701971

1970:1||IIIIV .

1971: 1IIIIIIV

1972: 1.II

x III 9

Sources

Total

18.328.129.020.4

41.837.629.429.329.653.446.539.446.557.3

48.255.162.667.574.494.4

100.298.7

109.8117.6

102.5126.7

Internal

7.812.618.719.1

17.919.921.221.123.329.228.930.629.535.0

34.435.641.843.950.556.661.261.561.760.8

59.167.1

Total

10.515.510.41.3

23.817.68.28.26.3

24.317.68.8

17.022.3

13.819.520.723.623.937.839.137.348.156.9

43.459.6

Externa

Credit market funds

Total

6.88.76.33.1

7.210.08.75.76.1

10.412.712.010.211.9

11.412.512.412.314.620.625.229.730.740.3

39.848.5

Long-term 2

3.55.66.45.1

3.95.97.96.06.76.67.5

10.410.78.2

7.611.19.78.59.09.3

15.621.517.921.2

32.344.0

Short-term 3

3.33.1

- 1 . 9

3.34.1.8

- . 3- . 63.85.21.6

- . 43.7

3.81.52.73.85.7

11.39.58.2

12.919.1

7.54.6

Other

3.76.84.0

- 1 . 8

16.77.7

- . 52.5.2

13.84.8

- 3 . 16.8

10.4

2.47.08.4

11.49.3

17.213.97.6

17.416.6

3.611.0

Uses

Total

16.525.525.318.8

40.537.229.026.926.548.039.938.937.951.2

41.649.155.159.765.583.089.788.899.5

105.2

95.5106.9

Pur-chase

ofphysi-

calassets^

17.917.220.315.3

24.129.924.424.621.631.535.934.727.336.9

39.036.744.045.652.162.877.172.076.284.0

84.685.2

In-crease

infinan-cial

assets

- 1 . 48.35.13.5

16.47.34.62.24.8

16.54.04.2

10.614.2

2.612.511.114.213.420.212.616.823.321.1

10.921.7

Discrep-ancy(usesless

sources)

- 1 . 8- 2 . 5-3 .7- 1 . 6

- 1 . 3- . 4- . 3

- 2 . 4- 3 . 2- 5 . 4- 6 . 6

- 8 . 6- 6 . 1

- 6 . 6- 5 . 9- 7 . 5- 7 . 8- 9 . 0

-11.4-10.6- 9 . 9

-10.3-12.5

- 6 . 9-19.8

Seasonally adjusted annual rates

106.1112.692.798.2

118.2122.2135.2130.4

137.2139.7144.3

58.360.259.858.2

62.166.667.272.4

72.577.781.0

47.852.433.040.0

56.155.668.057.9

64.762.063". 3

36.445.832.844.2

45.648.557.442.8

51.557.650.0

24.831.232.840.6

41.846.945.242.2

36.044.940.8

11.614.6

.03.6

3.81.6

12.2.6

15.512.79.2

11.36 7.2

- 4 . 2

10.67.1

10.515.2

13.14.5

13.2

102.0107.384.188.3

105.9110.8108.5101.7

128.1125.8129.9

80.885.288.284.3

82.487.683.287.7

94.8100.1102.8

21.222.2

-4 .14.0

23.623.225.314.0

33.325.627.1

- 4 . 1- 5 . 2- 8 . 6

-10.0

-12.3-11.4-26.7-28.6

-9 .1-13.9-14.4

1 Undistributed profits (after inventory valuation adjustment) and capital consumption allowances.2 Stocks, bonds, and mortgages.s Bank loans, commercial paper, finance company bans, bankers' acceptances, and Government loans.4 Plant and equipment, residential structures, and inventory investment.


282Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1973

TABLE C-77.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-73


Period

1946194719481949

19501951 .1952195319541955195619571958 _ .1959

1960 _ .1961196219631964 . .1965196619671968 . . . . .1969

1970 . .19711972

1971: 1st half...2d half

1972: 1IIIII . . .IV

1973: 1IIIII*

Total

18.327.028.219.6

41.135.529.127.228.852.544.342.241.255.1

47.454.559.265.072.491.497.494.1

112.4115.5

100.7122.7146.3

InternaM

7.812.618.719.1

17.919.921.221.123.329.228.930.629.535.0

34.435.641.843.950.556.661.261.561.760.7

59.469.977.5

Total

10.514.49.6.6

23.215.67.96.15.5

23.315.411.611.720.1

12.919.017.421.121.934.836.232.650.754.8

41.352.868.9

Sources

Externa

Credit market funds

Total

6.88.66.33.2

7.210.09.25.66.3

10.312.912.010.612.6

11.912.312.512.114.520.425.429.630.338.3

38.847.454.6

Long-term 2

3.45.56.45.1

3.85.97.85.96.66.57.5

10.310.58.1

7.510.89.58.28.89.2

15.621.317.019.5

29.842.038.2

Short-term 3

3.33.1

- . 1- 1 . 8

3.44.11.4

- . 3- . 33.85.41.7.0

4.5

4.51.52.93.95.6

11.39.88.3

13.318.8

9.05.4

16.4

Other

3.75.83.3

- 2 . 7

15.95.6

- 1 . 3.5

- . 813.02.5

- . 41.27.5

1.06.74.99.07.4

14.410.93.0

20.416.5

2.55.5

14.2

Total

16.525.525.218.7

40.437.228.926.826.447.839.738.737.850.8

41.449.554.759.365.082.589.188.2

104.0112.1

95.0109.7131.4

Uses

Pur-chase

ofphysi-

calassets4

17.917.220.215.2

24.029.824.324.521.531.335.734.527.036.7

38.736.343.645.251.662.376.571.475.083.7

84.086.7

100.7

In-crease

infinan-cial

assets

- 1 . 48.45.03.5

16.47.44.62.34.9

16.54.04.2

10.814.2

2.713.211.114.213.420.212.616.829.028.4

11.023.030.7

Discrep-ancy

(sourcesless

uses)

1 81.43.0.9

.7- 1 . 7

.2

.42.54.64 63.53.44.3

6.05.04.55.67.48.98.35.98.43.4

5.713.015.0

Seasonally adjusted annual rates

118.1127.2

129.7135.2144.3176.2

173.7183.9191.6

67.372.4

73.176.277.682.9

81.480.385.9

50.854.8

56.659.066.793.3

92.3103.6105.7

45.149.7

42.852.552.869.9

77.268.864.1

42.041.9

33.940.739.438.8

32.439.332.7

3.07.8

8.911.813.431.1

44.729.331.4

5.85.2

13.86.4

13.923.4

15.034.941.6

106.2113.3

127.3120.7131.8146.0

163.9167.7183.3

86.587.0

93.998.0

103.3107.4

107.4109.8117.7

19.726.3

33.422.728.538.6

56.557.965.6

12.013.9

2.314.612.530.2

9.716.28.2

1 Undistributed profits (after inventory valuation adjustment) and capital consumption allowances.2 Stocks, bonds, and mortgages.3 Bank loans, commercial paper, finance company loans, bankers' acceptances, and Government loans.4 Plant and equipment, residential structures, and inventory investment.


339


1974

sources and uses of funds, nonfarm nonfinancial corporate ... · sources and uses of funds, nonfarm...

Documents