Glossary

Value derived as a residual for most industries after subtracting total intermediate inputs, compensation of employees, and taxes on production and imports less subsidies from total industry output. Gross operating surplus includes consumption of fixed capital (CFC), proprietors' income, corporate profits, and business current transfer payments (net). Prior to 2003, it was referred to as other value added or property-type income.

Gross output (GO) is the value of the goods and services produced by the nation's economy. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs).

Private fixed investment and change in private inventories. It is measured without a deduction for consumption of fixed capital (CFC), includes replacements and additions to the capital stock, and excludes investment by U.S. residents in other countries.

Loans, trade credits, and other transactions in intercompany account payables or receivables between U.S. parent companies and their foreign affiliates, or between U.S. affiliates and their foreign parents or other members of their foreign parent groups.

Value of accumulated stocks of U.S.-owned assets abroad and the accumulated values of foreign-owned assets in the United States at a point in time; the net IIP is the former minus the latter.

Foreign residents' investment in U.S. assets.

The market value of the goods and services produced by labor and property in the United States less the value of the fixed capital used up in production; equal to gross domestic product (GDP) less consumption of fixed capital (CFC). NDP may be viewed as an estimate of sustainable product, which is a rough measure of the level of consumption that can be maintained while leaving capital assets intact.

A statistic tabulated from the tax returns of sole proprietors and partnerships; used in the estimation of nonfarm proprietors' income by state and county.

Consists of purchases of both nonresidential structures and equipment and software.

U.S. residents' investment abroad.

Includes institutional and personal remittances between U.S. private residents and foreign residents. Institutional remittances includes funds transferred and goods shipped to foreign residents by U.S. religious, charitable, educational, scientific, and similar nonprofit organizations. Personal remittances include remittances in cash between U.S. private residents and foreign residents.

A parent company's claim on the current-period undistributed after-tax earnings of its affiliates.

Consists of purchases of private residential structures and residential equipment that is owned by landlords and rented to tenants.

Ownership or control, directly or indirectly, by one U.S. person, or entity, of 10 percent or more of the voting securities of an incorporated foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise.