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
Purchases of physical assets
Nonresidential fixed investment-Residential structuresChange in business inventories..
Increase in financial assets
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. '
Source: Board of Governors of the Federal Reserve System.
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
[Billions of dollars]
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
Purchases of physical assets
Nonresidential fixed investment-Residential structuresChange in business inventories..
Increase in financial assets
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.
Source: Board of Governors of the Federal Reserve System.
284
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
1972
TABLE C-76.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-72
[Billions of dollars]
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.
Source: Board of Governors of the Federal Reserve System.
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
[Billions of dollars]
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.
Source: Board of Governors of the Federal Reserve System.
339
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
1974