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Glossary of terms specific to the NIPAs per: https://www.bea.gov/national/pdf/glossary.pdf
Inflation-adjusted estimates that are prepared to supplement the chain- type quantity indexes. In general, the chained-dollar estimates are calculated by multiplying the current-dollar value of an aggregateor component for the reference year by its corresponding chain-type quantity index and then dividing by 100. These estimates are denominated in units of the dollars of the reference year.
Unanticipated losses resulting from large scale, discrete, and recognizable events, such as hurricanes or earthquakes, that destroy assets. Such losses are not included in consumption of fixed capital but are instead classified as “other changes in the volume of assets” thatare recorded as direct adjustments to the net capital stock and balance sheet.
Cash or in-kind transactions in which the ownership of an asset is transferred from one economic unit to another, in which cash is transferred to enable the recipient to acquire another asset, or inwhich the funds realized by the disposal of another asset aretransferred. Examples of capital transfers include capital grants made by thefederal government to state and local government for construction ofhighways and estate or gift taxes.
Gains or losses that accrue during an accounting period to the ownersof assets and liabilities as a result of changes in their prices. Also referred to as “holding gains or losses.”
Consists largely of tax-return-based depreciation charges for corporations and for nonfarm proprietorships and partnerships and of historical-cost depreciation charges (calculated by BEA) for farm proprietorships and partnerships, rental income of persons, and nonprofit institutions.
The adjustment used to convert measures of depreciation that are based on historical-cost accounting—such as the capital consumption allowances reported on tax returns—to NIPA measures of private consumption of fixed capital that are based on current cost with consistent service lives and with empirically based depreciation schedules.
See “Consumption of fixed capital.”