166 Supplemental Tables August 2012 August/NIPA Tables...3 166 Supplemental Tables August 2012 7. Supplemental Tables Table 7.1. Selected Per Capita Product and Income Series in Current
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166 Supplemental Tables August 2012
7. Supplemental Tables
Table 7.1. Selected Per Capita Product and Income Series in Current and Chained Dollars [Dollars]
Final sales of motor vehicles to domestic purchasers ....... 42 –18.7 –21.1 17.1 13.5 –55.1 –20.2 2.0 53.3 –19.2 24.7 32.2 17.5 27.4 16.6 –12.6 16.8 22.6 15.9 –5.9 Private fixed investment in new autos and new light trucks 43 –19.9 –33.6 37.7 10.5 –70.0 –62.8 55.9 25.8 82.9 44.0 25.8 15.3 6.7 18.2 –15.3 42.6 1.3 27.4 –1.5 Domestic output of new autos 2......................................... 44 –4.4 –40.8 27.9 9.0 –61.8 –94.4 99.2 291.4 73.5 –8.4 4.6 –9.1 –17.7 29.3 7.2 18.9 64.0 82.6 7.4 Sales of imported new autos 3 .......................................... 45 –10.5 –17.1 11.9 8.7 –56.1 –20.3 15.5 101.0 –31.3 10.3 16.2 29.9 6.4 40.0 –20.1 –18.3 24.7 60.9 –26.2
1. Consists of used light trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
August 2012 SURVEY OF CURRENT BUSINESS 167
Table 7.2.3B. Real Motor Vehicle Output, Quantity Indexes [Index numbers, 2005=100]
1. Consists of used light trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
168 Supplemental Tables August 2012
Table 7.2.4B. Price Indexes for Motor Vehicle Output [Index numbers, 2005=100]
1. Consists of used light trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
August 2012 SURVEY OF CURRENT BUSINESS 169
Table 7.2.5B. Motor Vehicle Output [Billions of dollars]
1. Consists of used light trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment.
170 Supplemental Tables August 2012
Table 7.2.6B. Real Motor Vehicle Output, Chained Dollars [Billions of chained (2005) dollars]
1. Consists of used light trucks only. 2. Consists of final sales and change in private inventories of new autos assembled in the United States. 3. Consists of sales of imported new autos in personal consumption expenditures, in private fixed investment, and in gross government investment. NOTE. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of
more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines, excluding the lines in the addenda.
171 August 2012 SURVEY OF CURRENT BUSINESS
Table 7.3.3. Real Farm Sector Output, Real Gross Value Added, and Real Net Value Added, Quantity Indexes
Less: Intermediate goods and services consumed ............................................................... 10 207.3 194.0 200.3 235.5 Other than rent .......................................................................................................... 11 197.1 184.1 187.4 221.7
Intermediate goods and services purchased, other than rent ............................... 12 196.6 184.2 186.8 221.2 Less: Change in farm materials and supplies inventories ..................................... 13 –0.5 0.1 –0.5 –0.5
Rent paid to nonoperator landlords ........................................................................... 14 10.2 9.9 12.9 13.8 Equals: Gross farm value added ........................................................................................ 15 130.5 113.2 124.8 138.7 Less: Consumption of fixed capital ........................................................................................ 16 32.5 33.8 34.6 36.6 Equals: Net farm value added ............................................................................................ 17 97.9 79.5 90.2 102.1
Compensation of employees ............................................................................. 18 26.6 26.5 25.1 24.9 Wage and salary accruals ............................................................................. 19 22.9 22.7 21.4 21.3 Supplements to wages and salaries.............................................................. 20 3.6 3.8 3.7 3.6
Taxes on production and imports ...................................................................... 21 6.6 6.6 6.8 7.0 Less: Subsidies to operators ............................................................................. 22 10.3 10.3 10.5 8.8 Net operating surplus ........................................................................................ 23 75.1 56.7 68.9 79.0
Net interest .................................................................................................... 24 9.7 9.4 8.2 8.3 Current transfer payments............................................................................. 25 1.4 0.4 0.7 –1.2 Proprietors’ income and corporate profits with inventory valuation and
1. Beginning with 1991, includes change in farm materials and supplies inventories. NOTE. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series,
divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
173 August 2012 SURVEY OF CURRENT BUSINESS
Table 7.4.3. Real Housing Sector Output, Real Gross Value Added, and Real Net Value Added, Quantity Indexes
Farm housing .................................................................................... 11 16.9 17.1 17.5 18.9 Less: Consumption of fixed capital ........................................................................ 12 275.6 269.6 270.7 274.5 Equals: Net housing value added 2.................................................................... 13 1,024.1 1,052.8 1,051.3 1,077.5
Compensation of employees ............................................................. 14 14.6 14.5 14.5 14.7 Taxes on production and imports ...................................................... 15 200.0 208.7 209.9 213.1 Less: Subsidies ................................................................................. 16 45.6 48.6 47.5 49.3 Net operating surplus ........................................................................ 17 855.1 878.2 874.4 899.0
Net interest .................................................................................... 18 626.8 560.9 500.2 462.6 Current transfer payments............................................................. 19 4.1 6.9 4.6 –2.0 Proprietors’ income with inventory valuation and capital
consumption adjustments ......................................................... 20 41.2 53.4 59.2 67.9 Rental income of persons with capital consumption adjustment 21 196.2 268.7 324.4 384.9 Corporate profits with inventory valuation and capital
consumption adjustments ......................................................... 22 6.0 7.1 7.7 8.8 Current surplus of government enterprises................................... 23 –19.2 –18.8 –21.7 –23.1
1. Equals personal consumption expenditures for housing excluding expenditures for group housing as shown in table 2.5.5. 2. Equals housing national income.
Table 7.4.6. Real Housing Sector Output, Real Gross Value Added, and Real Net Value Added, Chained Dollars
Farm housing .................................................................................... 11 14.4 14.4 14.3 14.3 Less: Consumption of fixed capital ........................................................................ 12 256.5 258.7 260.1 261.4 Equals: Net housing value added ...................................................................... 13 927.5 923.4 936.3 942.2
1. Equals personal consumption expenditures for housing excluding expenditures for group housing as shown in table 2.5.6. NOTE. Chained (2005) dollar series are calculated as the product of the chain-type quantity index and the 2005 current-dollar value of the corresponding series,
divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive.
August 2012 SURVEY OF CURRENT BUSINESS 175
Table 7.5. Consumption of Fixed Capital by Legal Form of Organization and Type of Income [Billions of dollars]
For consistent accounting at historical cost....................... 17 204.5 190.9 200.2 243.8 For current-cost valuation.................................................. 18 –36.8 –34.4 –32.5 –33.8
Other private business 1 ............................................................ 19 –17.1 –16.0 –15.7 –15.7 Rental income of persons...................................................... 20 –16.2 –15.1 –14.7 –14.7
Proprietors’ income ............................................................... 25 –0.9 –0.9 –0.9 –1.0
1. Except for farm proprietorships and partnerships (line 15) and other private business (line 19), the capital consumption adjustment is calculated in two parts. The adjustment for consistent accounting at historical cost converts depreciation, based on the service lives and depreciation schedules employed by firms when filing their income tax returns, to consistent service lives and empirically based depreciation schedules. The adjustment for current-cost valuation converts the historical-cost series with consistent accounting to a series valued at current cost. For farm proprietorships and partnerships and for other private business, the historical-cost series is based on consistent service lives and empirically based depreciation schedules, so the adjustment reflects only a conversion to current-cost valuation.
Table 7.7. Business Current Transfer Payments by Type [Billions of dollars]
Line 2008 2009 2010 2011
Business current transfer payments (net) ............................ Payments to persons (net) ..................................................................
Insurance payments to persons by business..................................... Automobile insurance .................................................................... Medical malpractice insurance ...................................................... Net insurance settlements .............................................................
Donations by corporate business to nonprofit institutions serving households ....................................................................................
Other 1 ............................................................................................... Payments to government (net) 2......................................................... Payments to the rest of the world (net) 3 ...........................................
1 2 3 4 5 6
7 8 9
10
123.0 36.8 16.8 13.4 2.9 0.5
12.4 7.5
79.0 7.2
133.4 39.6 18.7 13.4
3.2 2.0
13.1 7.8
96.0 –2.3
140.0 47.4 22.9 12.6 2.6 7.8
15.8 8.7
94.5 –1.9
132.6 44.9 19.5 13.2
2.9 3.4
16.4 9.1
94.8 –7.1
1. Consists largely of losses by business due to fraud and unrecovered thefts, corporate cash prizes, and payments from personal injury trust funds.
2. For detail, see table 3.7. 3. Consists of net insurance settlements paid to the rest of the world less net insurance settlements received from the
rest of the world.
176 Supplemental Tables August 2012
Table 7.8. Supplements to Wages and Salaries by Type [Billions of dollars]
Line 2008 2009 2010 2011
Supplements to wages and salaries ...................................................................................... 1 1,522.5 1,524.0 1,565.4 1,633.9 Employer contributions for government social insurance (3.6:2)............................................................ 2 470.1 456.9 468.1 494.9 Employer contributions for employee pension and insurance funds (6.11A–D:1) .................................. 3 1,052.4 1,067.2 1,097.3 1,139.0
By type Pension, profit-sharing, and other retirement benefit plans 1 ......................................................... 4 760.4 760.4 783.9 812.1
Old-age, survivors, and disability insurance (3.6:5) ........................................................................... 5 317.2 307.6 307.7 321.0 Federal civilian employee retirement (6.11A–C:26; 6.11D:28)........................................................... 6 57.0 59.5 63.7 64.0 Federal military employee retirement (6.11A–C:27; 6.11D:29) .......................................................... 7 66.0 73.1 78.0 81.7 Railroad retirement (3.6:12) ............................................................................................................... 8 2.8 2.7 2.7 2.9 Pension benefit guaranty (3.6:13) ...................................................................................................... 9 1.6 2.4 2.1 2.0 State and local employee retirement (6.11A–C:28; 6.11D:30) ........................................................... 10 82.5 83.8 85.0 86.3 Private pension and profit-sharing (6.11A–C:22; 6.11D:24) .............................................................. 11 233.3 231.4 244.6 254.3
Health insurance .................................................................................................................................. 12 640.1 648.3 659.3 687.7 Federal hospital insurance (3.6:6)...................................................................................................... 13 90.6 86.3 88.2 91.9 Military medical insurance (3.6:16) .................................................................................................... 14 2.7 3.1 3.6 4.4 Temporary disability insurance (3.6:18).............................................................................................. 15 0.0 0.0 0.0 0.0 Private group health insurance (6.11B,C:31; 6.11D:33) 2 .................................................................. 16 546.8 558.7 567.4 591.4
Life insurance ....................................................................................................................................... 17 13.0 11.1 10.5 11.0 Veterans life insurance (3.6:14).......................................................................................................... 18 0.1 0.0 0.1 0.1 Private group life insurance (6.11B,C:32; 6.11D:34) 2 ....................................................................... 19 12.9 11.1 10.5 10.9
Workers’ compensation ....................................................................................................................... 20 69.0 63.6 61.2 63.5 Federal (3.6:15).................................................................................................................................. 21 2.6 2.7 2.7 3.0 State and local (3.6:19) ...................................................................................................................... 22 14.3 13.0 12.1 11.7 Private insurance (6.11B,C:33; 6.11D:35) 2 ....................................................................................... 23 52.2 47.9 46.4 48.8
1. Employer contributions to privately administered programs and to publicly administered government employee retirement plans are classified as employer contributions for employee pension and insurance funds. Employer contributions to other publicly administered programs are classified as employer contributions for government social insurance.
2. Government contributions to privately administered health, life, and workers’ compensation insurance for government employees are classified as employer contributions for employee pension and insurance funds. NOTE. The numbers in parentheses indicate the tables and line numbers from which the entries in this table are derived.
Table 7.9. Rental Income of Persons by Legal Form Table 7.10. Dividends Paid and Received by Sector of Organization and by Type of Income [Billions of dollars]
[Billions of dollars]
Line 2008 2009 2010 2011
Rental income of persons with capital consumption adjustment ................................... 1 231.6 289.7 349.2 409.7
Other private business ....................................................... 2 96.2 94.0 106.3 118.2 Tenant-occupied housing .................................................. 3 55.3 67.3 75.7 87.2
Nonfarm tenant-occupied permanent site housing ....... 4 55.2 67.2 75.6 87.0 Farm tenant-occupied housing owned by farm operator
Rest of the world 2 ........................................................ 5 316.4 230.9 235.0 262.0 Dividends received ............................................. 6 1,239.8 969.4 1,038.6 1,161.3
Net corporate dividend payments (16+17)................ 15 786.9 554.1 600.9 697.2 Domestic corporate business (2–7) ...................... 16 606.3 442.3 481.0 554.0 Rest of the world (5–10) ....................................... 17 180.5 111.9 119.9 143.2
Personal dividend income (15–11) ........................... 18 783.4 533.2 581.7 676.3 1. Includes housing, service structures, and land. 2. Includes rental income of private noninsured pension plans.
1. Remitted earnings to foreign residents from their unincorporated U.S. affiliates are treated as dividends paid by domestic corporate business (line 2) and as dividends received by the rest of the world (line 10).
2. Earnings of U.S. residents remitted by their unincorporated foreign affiliates are treated as dividends paid by the rest of the world (line 5) and as dividends received by domestic corporate business (line 7).
3. Dividends received by insured private pension plans are included in dividends received by financial corporate business (line 8), and in imputed interest received by persons, table 7.11 (line 61).
August 2012 SURVEY OF CURRENT BUSINESS 177
Table 7.11. Interest Paid and Received by Sector and Legal Form of Organization [Billions of dollars]
Federal ...................................................................................... 20 292.1 253.1 281.4 325.0 State and local........................................................................... 21 113.9 117.1 120.3 124.5
Rest of the world ........................................................................... 22 261.0 135.7 121.4 128.8 To business and persons........................................................... 23 259.1 134.5 120.2 127.2 To federal government............................................................... 24 1.9 1.2 1.2 1.6
Monetary interest received ............................................................. 25 3,984.0 2,883.5 2,650.1 2,614.8 Domestic business 1...................................................................... 26 2,493.3 1,795.0 1,681.8 1,664.2
Government................................................................................... 35 103.1 98.6 97.4 95.9 Federal ...................................................................................... 36 19.4 23.8 29.1 29.6 State and local........................................................................... 37 83.8 74.8 68.4 66.4
Rest of the world ........................................................................... 38 484.8 334.4 302.9 302.8 From business ........................................................................... 39 317.9 190.1 165.8 170.1 From federal government .......................................................... 40 166.8 144.4 137.1 132.7
Imputed interest Total imputed interest paid (43+70) ............................................... 41 437.0 305.8 261.5 248.7 Total imputed interest received (49+89) ........................................ 42 437.0 305.8 261.5 248.7 Depositor and insurance services:
Other private business............................................................ 78 –3.5 –4.8 –6.1 –6.3 Rental income of persons and proprietors’ income ............ 79 –3.5 –4.8 –6.1 –6.3
Addenda: Net interest (93+97+98+99)............................................................ 92 848.1 624.5 550.9 509.8
Domestic business (2+44+71–26–50–90) .................................. 93 515.8 327.3 293.8 280.2 Corporate (3+44+72–27–51–90) ............................................ 94 316.7 173.9 165.5 165.9 Sole proprietorships and partnerships (8+75–30–54) ............ 95 143.6 100.3 78.9 66.8 Other private business (11+78–31–57) .................................. 96 55.5 53.1 49.4 47.5
Owner-occupied housing (16+82–60) ........................................ 97 547.2 488.8 434.0 401.1 Nonprofit institutions (18+84)...................................................... 98 11.8 9.8 8.2 7.5 Rest of the world (22+48+88–38–69) ......................................... 99 –226.7 –201.4 –185.1 –179.0
Net interest paid by government (19+85–35–66) ........................... 100 288.2 251.6 282.0 330.9 Personal interest payments (17+83) ............................................... 101 245.6 217.1 183.8 168.0 Personal interest income (92+100+101) or (32+61+65) ................. 102 1,382.0 1,093.3 1,016.6 1,008.8
1. Excludes interest paid or received by government enterprises, which is included in the government sector. 2. Consists of interest paid on the deposit liabilities of commercial and mutual savings banks, savings and loan associa
tions, and credit unions. 3. Consists of nonmortgage interest paid by households. 4. Interest received by nonfinancial sole proprietorships and partnerships is considered interest received by persons
and is included in line 32. 5. Beginning with October 2002, includes the Uniformed Services Retiree Health Care Fund. 6. Includes nonprofit institutions primarily serving households.
NOTE. In this table, imputed interest paid (line 41) is the sum of (1) premium supplements paid to property and casualty insurance carriers by households and institutions, governments, domestic business, and the rest of the world as a measure of imputed services provided to these sectors by the property and casualty insurance providers, (2) the difference between the property income received by financial intermediaries from the investment of depositors’ or beneficiaries’ funds and the interest paid by them to business, households and institutions, governments, and the rest of the world, and (3) the imputed services provided to these sectors in the role of borrowers of financial services; these services are included as negative amounts paid by the borrowers and received by the financial intermediaries.
178 Supplemental Tables August 2012
Table 7.12. Imputations in the National Income and Product Accounts—Continues [Billions of dollars]
Line 2008 2009 2010 2011 Line 2008 2009 2010 2011
Gross domestic product Rental income of persons with capital consumption adjustment 67 231.6 289.7 349.2 409.7 Gross domestic product ........................................................... 1 14,291.5 13,973.7 14,498.9 15,075.7 Imputations (139).................................................................. 68 130.0 189.5 236.2 283.9
Excluding imputations (70–71) ............................................. Personal current transfer receipts .............................................
Less: Contributions for government social insurance, domestic Imputations (175).................................................................. Excluding imputations (76–77) .............................................
72 73 74 75 76 77 78
1,155.0 1,879.2
–3.6 1,882.8
987.3 5.4
981.9
894.8 2,140.1
–2.0 2,142.1
963.1 6.5
956.7
810.0 2,284.3
–1.5 2,285.8
983.3 7.3
975.9
806.4 2,319.2
–1.0 2,320.2
919.3 8.5
910.8
Net exports of goods and services...................................... 10 –709.7 –388.7 –511.6 –568.1 Personal current taxes ............................................................... 79 1,435.7 1,144.6 1,194.8 1,398.0 Imputations (14–17) ............................................................ 11 2.9 2.7 3.6 5.0 Imputations (–135–142)............................................................ 80 –145.6 –153.1 –153.9 –156.3 Excluding imputations (10–11) ............................................ 12 –712.6 –391.5 –515.2 –573.1 Excluding imputations (79–80) ................................................. 81 1,581.2 1,297.7 1,348.8 1,554.3 Exports of goods and services ............................................
Imports of goods and services ............................................
13 14 15 16
1,846.8 13.2
1,833.5 2,556.5
1,587.4 13.0
1,574.4 1,976.2
1,844.4 12.2
1,832.2 2,356.1
2,094.2 13.7
2,080.6 2,662.3
Disposable personal income ..................................................... Imputations (59–80).................................................................. Excluding imputations (82–83) .................................................
Business current transfer payments (net)............................ Imputations(138) ............................................................. Excluding imputations (46–47) ........................................
Proprietors’ income with inventory valuation and capital consumption adjustments................................................ Imputations(167+179) ..................................................... Excluding imputations (49–50) ........................................
Rental income of persons with capital consumption
44 45 46 47 48
49 50 51
824.2 272.6 123.0
3.2 119.8
1,097.9 0.6
1,097.2
747.6 94.3
133.4 5.7
127.7
979.4 0.1
979.3
721.8 31.2
140.0 3.9
136.1
1,103.4 0.8
1,102.6
689.0 17.3
132.6 –2.0
134.7
1,157.3 0.7
1,156.6
Current payments to the rest of the world................................ Imputations (150+165+166)...................................................... Excluding imputations (109–110) ............................................. Imports of goods and services..................................................
Income payments to the rest of the world ................................. Imputations(150+165)........................................................... Excluding imputations (115–116) .........................................
Net government saving ............................................................. Imputations (182–181).......................................................... Excluding imputations (127–128) .........................................
Table 7.12. Imputations in the National Income and Product Accounts—Table Ends [Billions of dollars]
Line 2008 2009 2010 2011
Specific imputations Owner-occupied housing:
Imputed rental of owner-occupied housing .............................. 133 1,190.6 1,213.9 1,217.1 1,235.8 Intermediate inputs................................................................... 134 167.0 183.1 193.9 197.1 Taxes on production and imports ............................................. 135 137.3 144.3 145.1 147.3 Subsidies.................................................................................. 136 3.6 2.0 1.5 1.0 Net interest (186–156–164)...................................................... 137 547.2 488.8 434.0 401.1 Current transfer payments........................................................ 138 3.2 5.7 3.9 –2.0 Rental income of persons with capital consumption
adjustment (133–134–135+136–137–138–140) .................. 139 130.0 189.5 236.2 283.9 Consumption of fixed capital .................................................... 140 209.5 204.5 205.5 209.5
Rental value of nonresidential fixed assets owned and used by nonprofit institutions serving households 1................... 141 101.1 102.9 102.3 104.8 Taxes on production and imports ............................................. 142 8.3 8.8 8.8 9.0 Net interest (187+190) ............................................................. 143 11.8 9.8 8.2 7.5 Consumption of fixed capital .................................................... 144 81.1 84.2 85.4 88.2
Rest of the world 4................................................................ 158 2.3 2.8 3.6 4.8 Premium supplements for property and casualty insurance
To the rest of the world (exports) .............................................. 165 2.2 2.2 2.0 2.2 From the rest of the world (imports) ......................................... 166 10.4 10.3 8.6 8.6
Employment-related imputations.............................................. 170 580.5 592.3 600.8 627.6 Food furnished to employees, including military and domestic
service 5 ............................................................................... 171 14.3 14.9 14.6 15.8 Standard clothing issued to military personnel 5 ...................... 172 0.4 0.4 0.4 0.4 Employees’ lodging 5................................................................ 173 0.7 0.7 0.6 0.6 Employer contributions for health and life insurance 6.............. 174 559.7 569.8 577.9 602.3 Contributions for government social insurance for federal
government employees for certain programs 7 .................... 175 5.4 6.5 7.3 8.5 Private investment-related imputations ................................... 176 523.0 414.7 395.8 394.8
Less: Imputed interest received by persons (164) .............. 191 1.4 1.2 1.2 1.2 Imputed interest paid by private enterprises ....................... 192 203.2 99.1 75.9 55.9
By banks, credit agencies, and investment companies for depositor services and by property and casualty insurance carriers (146+159)...................................... 193 330.1 263.3 267.3 254.3
By private enterprises for borrower services (–154) ....... 194 –126.9 –164.3 –191.4 –198.4 Less: Imputed interest received .......................................... 195 –62.0 –149.9 –203.8 –224.5
By banks for borrower services (–151) ........................... 196 –154.3 –205.9 –255.2 –267.7 By other private enterprises (149+162) .......................... 197 92.3 56.1 51.4 43.2
Personal interest income (147+160–164) ............................ 202 227.0 198.4 206.6 202.4 Net interest, domestic (183)................................................ 203 824.2 747.6 721.8 689.0 Net interest, rest of the world (–150–158–165+166) .......... 204 –2.9 –2.7 –3.6 –5.0 Net imputed interest paid by government (–148–153–161) 205 –14.7 –20.0 –22.3 –22.6 Personal interest payments (198) ....................................... 206 –579.7 –526.5 –489.3 –459.0
Premium supplements for property and casualty insurance (160+161+165–166) ....................................................... 212 4.0 2.8 0.9 1.2
Employment-related imputations (170) ............................... 213 580.5 592.3 600.8 627.6 Farm products consumed on farms (167) ........................... 214 0.1 0.1 0.1 0.1 Margins on owner-built housing (179)................................. 215 0.5 0.0 0.6 0.6 Consumption of general government fixed capital (181)..... 216 259.6 270.4 278.2 291.0
Excluding imputations (207–208)............................................ 217 12,060.7 11,728.3 12,214.0 12,732.5 Personal income ....................................................................... 218 12,460.2 11,867.0 12,321.9 12,947.3
Imputations ............................................................................. 219 929.2 971.9 1,035.5 1,105.1 Food furnished to employees, including military and
domestic service (171).................................................... 220 14.3 14.9 14.6 15.8 Standard clothing issued to military personnel (172).......... 221 0.4 0.4 0.4 0.4 Employees’ lodging (173).................................................... 222 0.7 0.7 0.6 0.6 Employer contributions for health and life insurance (174) 223 559.7 569.8 577.9 602.3 Farm products consumed on farms (167) ........................... 224 0.1 0.1 0.1 0.1 Margins on owner-built housing (179)................................. 225 0.5 0.0 0.6 0.6 Owner-occupied housing (139–136)................................... 226 126.5 187.5 234.6 282.9 Depositor financial services furnished without payment
1. Residential dwellings owned and used by nonprofit institutions serving households are included in owner-occupied housing categories.
2. Includes financial services furnished without payment to government employee retirement plans. 3. Classified as a service in exports, and as an income payment to the rest of the world. 4. Classified as a service in exports, and as an income receipt from the rest of the world. 5. For general government employees, recorded as compensation of employees (wages and salaries) and as a sale;
does not affect government consumption expenditures. Similar payments for employees of government enterprises are not included in government consumption expenditures; they are deducted in the calculation of the surplus of government enterprises.
6. Health insurance premiums paid by employers are included in the calculation of the “net health insurance” category of personal consumption expenditures (PCE); life insurance premiums paid by employers are included in the calculation of the “life insurance” category of PCE.
7. Consists of the programs for which a social insurance fund is imputed, and for which contributions are set equal to benefits paid. These payments are funded directly out of the current budget. The specific programs consist of workers’ compensation, unemployment insurance, and medical services for the dependents of active duty military personnel at nonmilitary facilities. Source data are not available for the corresponding treatment for similar state and local government programs. Similar payments for employees of government enterprises are not included in government consumption expenditures; they are deducted in the calculation of the surplus of government enterprises.
8. Consists of owner-occupant purchases of new single-family dwellings, including manufactured homes, expenditures
on improvements, and payments of commissions on new and existing residential dwellings, less sales of dwellings to government. The series is calculated from the investment data prepared as part of BEA’s capital stock estimates. It differs from the investment data shown in table 5.4.5 because the series shown in that table reflect total purchases by private business.
9. Excludes investment by nonprofit institutions serving households in residential properties, which is included in owner-occupant investment (see footnote 1) and in sales of existing structures to governments. The series is calculated from the investment data prepared as part of BEA’s capital stock estimates. It differs from the investment data shown in table 5.4.5 because the series shown in that table reflect total purchases by private business.
10. The consumption of fixed capital (CFC) of government enterprises is not included in government consumption expenditures; it is deducted in the calculation of the current surplus of government enterprises and is recorded as part of total government CFC.
11. Includes gross investment of government enterprises. NOTE. “Imputations” are transactions recorded in the national income and product accounts that are not transactions of
the market economy. In this table, the imputations shown in the “specific imputations” section are those that affect gross domestic product (GDP). In table 7.11, imputed interest paid by life insurance carriers (line 46) consists of the property incomes earned on life insurance and pension reserves. These incomes are considered to be incomes received by persons and not by the insurance carriers; this reclassification is not considered an imputation for purposes of table 7.12, because it does not affect GDP.
180 Supplemental Tables August 2012
Table 7.13. Relation of Consumption of Fixed Capital in the National Income and Product Accounts to Depreciation and Amortization as Published by the Internal Revenue Service
[Billions of dollars]
Line 2008 2009 2010 2011
Corporations Depreciation and amortization, IRS .................................................................................................................................... 1 939.4 903.3 .................. ................... Less: Depreciation of assets of foreign branches ................................................................................................................... 2 3.1 2.9 .................. ...................
Depreciation or amortization of intangible assets 1 .................................................................................................... 3 136.1 142.2 .................. ................... Other 2 ........................................................................................................................................................................ 4 40.2 42.3 .................. ...................
Plus: Normal accidental damage to fixed capital other than repairable damage .................................................................... 5 6.3 6.5 .................. ................... Depreciation of computer software not in IRS depreciation........................................................................................ 6 158.2 166.0 .................. ................... Depreciation of mining exploration, shafts, and wells charged to current expense..................................................... 7 28.6 32.9 .................. ................... Depreciation of motor vehicles not in IRS depreciation 3............................................................................................ 8 6.1 5.5 .................. ................... Depreciation of railroad track charged to current expense 4....................................................................................... 9 ................... ................... .................. ................... Other 5 ........................................................................................................................................................................ 10 2.2 2.3 .................. ...................
Nonfarm sole proprietorships and partnerships Depreciation and amortization, IRS .................................................................................................................................... 14 352.9 339.2 349.7 ................... Less: Depreciation or amortization of intangible assets 1 ....................................................................................................... 15 14.1 13.6 14.0 ...................
Adjustment for misreporting on income tax returns .................................................................................................... 16 27.5 26.8 27.4 ................... Other 6 ........................................................................................................................................................................ 17 0.9 0.9 0.8 ...................
Plus: Normal accidental damage to fixed capital other than repairable damage .................................................................... 18 0.8 0.9 0.9 ................... Depreciation of computer software not in IRS depreciation........................................................................................ 19 8.8 9.2 9.6 ................... Depreciation of mining exploration, shafts, and wells charged to current expense..................................................... 20 10.0 10.9 11.0 ................... Depreciation of motor vehicles not in IRS depreciation 3............................................................................................ 21 0.5 0.5 0.4 ...................
1. Consists of intangible assets that the IRS allows to be amortized. 2. Consists of depreciation or amortization of the following items: Breeding, dairy, and work animals; motion picture films; rental videocassettes; and rental clothing. 3. Consists of depreciation of employees’ motor vehicles reimbursed by business and depreciation of business motor vehicles charged to current expense. 4. Beginning with 1981, included in IRS depreciation (line 1). 5. Consists of depreciation of assets owned by Federal Reserve banks, federally sponsored credit agencies, credit unions, and nonprofit institutions serving business; depreciation of interest paid by
public utilities for own-account investment prior to 1987 (beginning with 1987, included in line 1). 6. Consists of depreciation or amortization of rental videocassettes and rental clothing. IRS Internal Revenue Service NIPAs National income and product accounts
Table 7.14. Relation of Nonfarm Proprietors’ Income in the National Income and Product Accounts to Corresponding Measures as Published by the Internal Revenue Service
[Billions of dollars]
Line 2008 2009 2010 2011
Net profit (less loss) of nonfarm proprietorships and partnerships, plus payments to partners, IRS ......................... Plus: Adjustments for misreporting on income tax returns......................................................................................................
Posttabulation amendments and revisions 1 ............................................................................................................... Depletion on domestic minerals.................................................................................................................................. Adjustment to depreciate expenditures for mining exploration, shafts, and wells ....................................................... Bad debt expense....................................................................................................................................................... Income received by fiduciaries.................................................................................................................................... Income of tax-exempt cooperatives ............................................................................................................................ Disaster adjustments (net) 2 .......................................................................................................................................
1. Consists largely of an adjustment to expense all meals and entertainment, of oilwell bonus payments written off, of adjustments for corporate partners and statutory employees, of interest income, and of margins on owner-built housing.
2. Consists of disaster losses valued at historic-cost less net insurance receipts for disaster-related losses valued at replacement-cost. IRS Internal Revenue Service NIPAs National income and product accounts
181 August 2012 SURVEY OF CURRENT BUSINESS
Table 7.16. Relation of Corporate Profits, Taxes, and Dividends in the National Income and Product Accounts to Corresponding Measures as Published by the Internal Revenue Service
[Billions of dollars]
Line 2008 2009 2010 2011
Total receipts less total deductions, IRS .................................................................................................................................... 1 903.0 828.8 ................ ................. Plus: Adjustment for misreporting on income tax returns ............................................................................................................... 2 286.8 313.5 ................ .................
Posttabulation amendments and revisions 1....................................................................................................................... 3 84.4 91.6 ................ ................. Income of organizations not filing corporation income tax returns ..................................................................................... 4 46.0 59.5 ................ .................
Depletion on domestic minerals.......................................................................................................................................... 8 16.3 16.1 ................ ................. Adjustment to depreciate expenditures for mining exploration, shafts, and wells ............................................................... 9 48.9 23.4 ................ ................. State and local taxes on corporate income......................................................................................................................... 10 47.4 45.5 ................ ................. Interest payments of regulated investment companies....................................................................................................... 11 –176.8 –120.4 ................ ................. Bad debt expense............................................................................................................................................................... 12 253.9 379.4 ................ ................. Disaster adjustments (net) 4 ............................................................................................................................................... 13 7.3 0.0 ................ .................
Less: Tax-return measures of: Gains, net of losses, from sale of property ..................................................................................................................... 14 69.4 59.3 ................ ................. Dividends received from domestic corporations............................................................................................................. 15 206.7 155.4 ................ ................. Income on equities in foreign corporations and branches (to U.S. corporations) ........................................................... 16 288.0 282.9 ................ .................
Costs of trading or issuing corporate securities 5 ............................................................................................................... 17 –0.1 52.1 ................ ................. Plus: Income received from equities in foreign corporations and branches by all U.S. residents, net of corresponding payments 18 406.6 352.8 ................ ................. Equals: Profits before taxes, NIPAs ............................................................................................................................................ 19 1,359.9 1,440.5 1,816.3 1,854.1 Federal income and excess profits taxes, IRS ........................................................................................................................... 20 342.4 313.5 ................ ................. Plus: Posttabulation amendments and revisions, including results of audit and renegotiation and carryback refunds................... 21 –26.7 –52.1 ................ .................
Amounts paid to U.S. Treasury by Federal Reserve banks ................................................................................................ 22 31.7 47.4 ................ ................. State and local taxes on corporate income......................................................................................................................... 23 47.4 45.5 ................ ................. Taxes paid by domestic corporations to foreign governments on income earned abroad .................................................. 24 28.0 23.5 ................ .................
Equals: Taxes on corporate income, NIPAs ............................................................................................................................... 28 309.0 269.4 373.3 379.0 Profits after tax, NIPAs (19–28) .................................................................................................................................................... 29 1,050.9 1,171.1 1,443.0 1,475.1 Dividends paid in cash or assets, IRS ........................................................................................................................................ 30 1,420.9 854.1 ................ ................. Plus: Posttabulation amendments and revisions 7 .......................................................................................................................... 31 –336.9 –5.9 ................ .................
Dividends paid by Federal Reserve banks and certain federally sponsored credit agencies 2 .......................................... 32 3.1 2.7 ................ ................. U.S. receipts of dividends from abroad, net of payments to abroad ................................................................................... 33 180.5 111.9 ................ ................. Earnings remitted to foreign residents from their unincorporated U.S. affiliates................................................................. 34 10.7 6.1 ................ ................. Interest payments of regulated investment companies....................................................................................................... 35 –176.8 –120.4 ................ .................
Less: Dividends received by U.S. corporations............................................................................................................................... 36 311.2 292.6 ................ ................. Earnings of U.S. residents remitted by their unincorporated foreign affiliates .................................................................... 37 3.5 1.7 ................ .................
1. Consists largely of an adjustment to expense all meals and entertainment, of oilwell bonus payments written off, of adjustments for insurance carriers and savings and loan associations, of amortization of intangible assets, and of tax-exempt interest income.
2. Consists of the Farm Credit System and the Federal Home Loan Banks. 3. Consists of nonprofit organizations serving business and of credit unions. 4. Consists of disaster losses valued at historic-cost less net insurance receipts for disaster-related losses valued at replacement-cost. 5. Includes the imputed financial service charge paid by corporations to domestic securities dealers who do not charge an explicit commission. 6. Beginning with 1984, the investment tax credit is included in other tax credits (line 27). 7. Consists largely of an adjustment to remove capital gains distributions of regulated investment companies. IRS Internal Revenue Service NIPAs National income and product accounts
182 Supplemental Tables August 2012
Table 7.17. Relation of Monetary Interest Paid and Received in the National Income and Product Accounts to Corresponding Measures as Published by the Internal Revenue Service
[Billions of dollars]
Line 2008 2009 2010 2011
Corporations Interest paid, IRS................................................................................................................................................................... 1 1,658.6 1,069.7 .................. ................... Less: Interest paid by foreign branches of commercial banks ................................................................................................ 2 15.9 –3.9 .................. ................... Plus: Interest paid by organizations not filing corporation income tax returns........................................................................ 3 66.6 33.3 .................. ...................
Adjustment for mutual savings banks and savings and loan associations.................................................................. 22 –31.4 –19.3 .................. ................... Other 4 ........................................................................................................................................................................ 23 19.3 15.2 .................. ...................
Equals: Monetary interest received by corporations, NIPAs ............................................................................................ 24 2,288.0 1,647.8 1,528.5 1,513.0
1. Consists of interest paid by nonprofit organizations serving business and by credit unions. 2. Consists of construction interest capitalized on tax returns, interest reported on tax returns in cost of goods sold, and interest passed through to shareholders by small business corporations. 3. Consists of nonprofit organizations serving business, of credit unions, and of other tax-exempt interest received by commercial banks and nonlife insurance carriers. 4. Consists of interest received by credit agencies and finance companies reported as business receipts on tax returns and of interest passed through to shareholders by small business corpora
tions. NOTE. Total interest received by financial proprietorships and partnerships is not separately identified by the IRS. IRS Internal Revenue Service NIPAs National income and product accounts
Table 7.18. Relation of Wages and Salaries in the National Income and Product Accounts to Wages and Salaries as Published by the Bureau of Labor Statistics
[Billions of dollars]
Line 2008 2009 2010 2011
Total wages and salaries, BLS 1 .......................................................................................................................................... Plus: Adjustment for misreporting on employment tax returns 2.............................................................................................
Adjustment for wages and salaries not covered or not fully covered by unemployment insurance ............................ Government ............................................................................................................................................................ Other.......................................................................................................................................................................
Equals: Wage and salary disbursements, NIPAs ............................................................................................................... Plus: Wage accruals less disbursements, NIPAs .................................................................................................................... Equals: Wage and salary accruals, NIPAs ..........................................................................................................................
1 2 3 4 5 6 7 8
6,142.2 87.8
320.9 137.4 183.5
6,550.9 –5.0
6,545.9
5,859.2 87.9
323.2 145.2 178.0
6,270.3 5.0
6,275.3
5,975.7 94.8
334.1 149.2 184.9
6,404.6 0.0
6,404.6
6,216.8 100.0 344.5 150.4 194.0
6,661.3 0.0
6,661.3
1. Total annual wages of workers covered by state unemployment insurance (UI) laws and by the Unemployment Compensation for Federal Employees program. Data for the most recent year are preliminary.
2. Consists of unreported wages and salaries paid by employers and of unreported tips. BLS Bureau of Labor Statistics NIPAs National income and product accounts