Corporate Profits – Brief Article

Corporate Profits – Brief Article – Statistical Data Included

In the third quarter of 1999, according to current estimates, corporate profits before tax rose $18.0 billion (annual rate) and profits after tax rose $12.9 billion.

[GRAPH OMITTED]

[Billions of dollars; quarterly data at seasonally adjusted annual rates]

Profits (before tax) with inventory

valuation adjustment(1)

Domestic industries

Nonfinancial

Finan- Manufac-

Period Total(2) Total cial Total(3) turing

1990 388.6 315.9 91.6 224.3 109.2

1991 421.1 346.7 120.2 226.5 93.5

1992 448.8 380.1 124.8 255.2 93.9

1993 506.4 429.6 127.9 301.7 108.4

1994 561.0 483.7 114.7 369.0 139.6

1995 650.2 558.2 154.3 403.8 166.1

1996 729.4 628.6 165.3 463.3 181.2

1997 803.2 695.1 184.2 510.9 185.6

1998 802.8 702.8 191.3 511.5 168.4

1999(p) … … … … …

1996: III 729.6 631.1 166.4 464.8 181.8

IV 748.1 637.8 156.0 481.8 185.7

1997: I 772.6 670.7 176.6 494.0 179.0

II 797.7 684.7 181.9 502.8 186.6

III 827.0 717.3 186.5 530.7 195.4

IV 815.5 708.0 191.8 516.1 181.4

1998: I 818.4 710.5 194.9 515.6 170.8

II 805.6 698.2 192.2 506.0 169.2

III 799.9 713.2 189.5 523.7 171.9

IV 787.4 689.1 188.6 500.6 161.7

1999: I 831.4 727.1 205.3 521.9 171.0

II 822.2 718.9 198.3 520.6 167.8

III 827.1 719.0 203.9 515.1 163.1

IV(p) … … … … …

Domestic industries

Nonfinancial

Transpor- Whole-

Period tation(4) sale Retail

1990 44.4 19.1 21.0

1991 53.2 22.0 27.7

1992 58.5 25.9 33.7

1993 69.6 28.2 39.7

1994 82.9 33.1 46.6

1995 85.8 29.4 44.1

1996 91.4 42.6 52.9

1997 104.7 46.8 63.7

1998 109.0 47.2 69.8

1999(p) … … …

1996: III 90.4 41.4 54.9

IV 93.6 50.2 52.9

1997: I 100.1 48.9 62.4

II 101.8 48.0 60.9

III 108.2 47.4 66.1

IV 108.8 42.8 65.4

1998: I 110.9 47.9 71.0

II 105.0 50.1 69.7

III 113.0 49.7 69.3

IV 106.9 41.2 69.0

1999: I 111.9 43.4 75.7

II 107.9 44.3 75.4

III 117.3 39.1 67.7

IV(p) … … …

Profits after tax

Profits Undis-

before Tax Divi- tributed

Period tax liability Total dends profits

1990 401.5 140.6 260.9 165.6 95.3

1991 416.1 133.6 282.6 178.4 104.1

1992 451.6 143.1 308.4 185.5 122.9

1993 510.4 165.4 345.0 203.1 141.9

1994 573.4 186.7 386.7 234.9 151.8

1995 668.5 211.0 457.5 254.2 203.3

1996 726.3 223.6 502.7 297.7 205.0

1997 795.9 238.3 557.6 333.7 223.9

1998 781.9 240.2 541.7 348.6 193.1

1999(p) … … … 364.7 …

1996: III 724.9 224.0 500.9 302.7 198.2

IV 741.0 225.6 515.4 311.3 204.1

1997: I 763.3 228.9 534.4 320.6 213.8

II 786.5 233.2 553.3 330.6 222.7

III 822.1 246.8 575.3 338.8 236.5

IV 811.6 244.1 567.4 344.8 222.6

1998: I 788.9 239.9 548.9 346.5 202.5

II 792.0 241.1 550.9 347.3 203.6

III 780.1 244.3 535.8 348.4 187.4

IV 766.7 235.6 531.0 352.2 178.8

1999: I 818.1 248.0 570.1 356.4 213.7

II 835.8 254.4 581.4 361.5 219.9

III 853.8 259.4 594.3 367.3 227.0

IV(p) … … … 373.5 …

Inven-

tory

valu-

ation

adjust-

Period ment

1990 -12.9

1991 4.9

1992 -2.8

1993 -4.0

1994 -12.4

1995 -18.3

1996 3.1

1997 7.4

1998 20.9

1999(p) …

1996: III 4.7

IV 7.1

1997: I 9.3

II 11.2

III 4.9

IV 4.0

1998: I 29.5

II 13.6

III 19.8

IV 20.8

1999: I 13.3

II -13.6

III -26.7

IV(p) …

(1) See p. 4 for profits with inventory valuation and capital consumption adjustments.

(2) Includes rest of the world, not shown separately.

(3) Includes industries not shown separately.

(4) Transportation and public utilities.

Source: Department of Commerce, Bureau of Economic Analysis.

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