Capital account (international). Record of capital transfers between U.S. residents and foreign residents, such as debt forgiveness and migrants’ transfers, and acquisitions and disposals of nonproduced nonfinancial assets between residents and nonresidents. Related terms: balance of payments, current acount (international), financial account (international).
Capital consumption allowance (CCA), (private). Consists of tax-return-based depreciation charges for corporations and nonfarm proprietorships and of historical-cost depreciation (calculated by BEA) for farm proprietorships, rental income of persons, and nonprofit institutions. Related terms: consumption of fixed capital (CFC), capital consumption adjustment (CCAdj).
Capital expenditures. Expenditures made to acquire, add to, or improve property, plant, and equipment (PP&E). PP&E includes: land, timber, and minerals; structures, machinery, equipment, special tools, and other depreciable property; construction in progress; and tangible and intangible exploration and development costs. Changes in PP&E due to changes in entity—such as mergers, acquisitions, and divestitures—or to changes in accounting methods are excluded. Capital expenditures are measured on a gross basis; sales and other dispositions of fixed assets are not netted against them.
Capital flows table. Table that expands the fixed investment component of the input-output (I-O) use table to show the types of new equipment, new structures, and software used by each industry. Related terms: input-output (I-O) accounts.
Capital transfers to the rest of the world (net). Cash or in-kind transfers to foreigners that are linked to the acquisition or disposition of a fixed asset.
CCAdj. Capital consumption adjustment
Chained-dollar estimate. A measure used to approximate the chain-type index level and is calculated by taking the current-dollar level of a series in the base period and multiplying it by the change in the chain-type quantity index number for the series since the base period. Chained-dollar estimates correctly show growth rates for a series, but are not additive in periods other than the base period. Related terms: chain-type index, current-dollar estimate.
Chained-type index. Index that is based on the linking (chaining) of indexes to create a time series. Annual chain-type Fisher indices are used in BEA’s national income and product accounts (NIPAs) whereby Fisher ideal price indices are calculated using the weights of adjacent years. Those annual changes are then multiplied (chained) together, forming the chain-type index time series. Related terms: chained-dollar estimate, current-dollar estimate.
Change in private inventories. The change in the physical volume of inventories owned by private business, valued at the average prices of the period. It differs from the change in the book value of inventories reported by many businesses; the difference is the inventory valuation adjustment (IVA).
CMSA. Consolidated metropolitan statistical area
Commodity flow method. Method used to estimate purchases of a commodity by intermediate or final users. The method generally begins with an estimate of the total supply of a commodity available for domestic uses; it then either attributes a fixed percentage of supply to an intermediate or final use, or it adjusts for intermediate purchases and attributes the residual to final uses.
Compensation of employees (paid). Income accruing to employees as remuneration for their work for domestic production. It is the sum of wage and salary accruals and of supplements to wages and salaries. It includes compensation paid to the rest of the world and excludes compensation received from the rest of the world.
Compensation of employees (received). Wage and salary disbursements and supplements to wages and salaries received by U.S. residents, including wages and salaries received from the rest of the world.
Consumption of fixed capital (CFC). The charge for the using up of private and government fixed capital located in the United States. It is the decline in the value of the stock of fixed assets due to wear and tear, obsolescence, accidental damage, and aging. For general government and for nonprofit institutions that primarily serve individuals, CFC serves as a measure of the value of the current services of the fixed assets owned and used by these entities. Related terms: capital consumption adjustment (CCAdj), capital consumption allowance (CCA).
Contribution for government social insurance. Employer contributions for government social insurance as well as payments by employees, the self-employed, and other individuals who participate in government social insurance programs.
Corporate profits with IVA and CCAdj. This measure–profits from current production–is the income that arises from current production, measured before income taxes, of organizations treated as corporations in the national income and product accounts (NIPAS). With several differences, this income is measured as receipts less expenses as defined in Federal tax law. Among these differences are: Receipts exclude capital gains and dividends received; expenses exclude bad debt, depletion, and capital losses; inventory withdrawals are valued at current cost; and depreciation is on a consistent accounting basis and valued at current replacement cost. Related terms: inventory valuation adjustment (IVA), capital consumption adjustment (CCAdj).
Cross-border trade in services. Transactions in services between the residents of one country and the residents of another country. From the U.S. viewpoint, it consists of exports and imports of services between U.S. residents and foreign residents. It includes both trade within multinational companies (intrafirm trade in services) and trade between unaffiliated parties. It is one of two channels of delivery of services in international markets; the other is sales of services through foreign affiliates of multinational companies.
Current account (international). Record of transactions in goods, services, income, and unilateral current transfers between residents and nonresidents. Related terms: balance of payments, capital account (international), financial account (international).
Current-dollar estimate. The market value of an item. It reflects prices and quantities of the period being measured. Related terms: chained-dollar estimate.
Current payments to the rest of the world. The sum of imports of goods and services, income payments to the rest of the world, and current taxes and transfer payments to the rest of the world.
Current surplus of government enterprises. The current operating revenue and subsidies received by government enterprises from other levels of government less the current expenses of government enterprises.
Current taxes and transfer payments to the rest of the world. Payments consisting of business current transfer payments to the rest of the world (net), plus nonresident taxes paid by domestic corporations to foreign governments.
Current tax receipts. Tax revenues received by government from all sources. It is the sum of personal current taxes, taxes on production and imports, taxes on corporate income, and taxes from the rest of the world.
Current transfer payments. Payments consisting of government social benefits and other current transfer payments to the rest of the world.
Current transfer receipts. Government net transfer receipts from businesses and from persons. These receipts largely consist of deposit insurance premiums, net insurance settlements, donations, fines, fees, certain penalty taxes, and excise taxes paid by nonprofit institutions serving households.