[Economic Indicators March, 1996]
[Page Number 8]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
CORPORATE PROFITS

In the fourth quarter of 1995, according to current estimates, corporate 
profits before tax rose $1.4 billion (annual rate) and profits after tax 
rose $7.2 billion.
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  ______________________________________________________________________

                                                            [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                                           
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                                                       Profits (before tax) with inventory valuation adjustment\1\                                         Profits after tax                    
                                            --------------------------------------------------------------------------------                     ------------------------------------           
                                                                                Domestic industries                           Profits                                                  Inventory
                   Period                              ---------------------------------------------------------------------  before      Tax                                          valuation
                                              Total\2\                                        Nonfinancial                      tax    liability    Total   Dividends  Undistributed  adjustment
                                                          Total   Financial ------------------------------------------------                                              profits               
                                                                              Total\3\  Manufacturing  Wholesale    Retail                                                                      
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1986.......................................      234.0     199.3       36.4      162.9         60.2         22.9      23.7      222.6      106.5     116.1      110.2          5.8          11.4
1987.......................................      272.9     231.3       37.1      194.2         85.0         16.7      23.9      293.6      127.1     166.5      107.0         59.5         -20.7
1988.......................................      325.0     274.3       43.0      231.2        115.1         19.3      19.6      354.3      137.0     217.3      116.8        100.5         -29.3
1989.......................................      330.6     272.6       53.1      219.6        109.3         20.4      20.7      348.1      141.3     206.8      138.9         67.9         -17.5
1990.......................................      358.2     292.5       68.6      223.8        112.3         17.2      20.6      371.7      140.5     231.2      151.9         79.4         -13.5
1991.......................................      378.2     309.5       87.4      222.1         92.7         20.6      26.1      374.2      133.4     240.8      163.1         77.7           4.0
1992.......................................      398.9     334.0       83.7      250.3         96.3         23.0      32.2      406.4      143.0     263.4      169.5         93.9          -7.5
1993.......................................      457.7     388.1       91.0      297.2        109.7         25.5      39.2      464.3      163.8     300.5      197.3        103.3          -6.6
1994.......................................      514.9     453.7       94.4      359.3        142.7         34.5      42.2      528.2      195.3     332.9      211.0        121.9         -13.3
1995.......................................      572.7     494.1      119.1      375.0        145.7         29.6      38.7      600.8      218.7     382.1      227.4        154.7         -28.1
                                                                                                                                                                                                
1990:IV....................................      356.5     282.5       70.5      212.1        108.4         16.9      22.8      376.7      139.7     237.1      152.0         85.0         -20.3
1991:IV....................................      375.2     303.6       87.6      216.1         83.8         17.0      28.6      382.8      135.2     247.6      165.3         82.2          -7.6
1992:IV....................................      420.5     361.2       83.1      278.1        105.1         28.3      37.3      420.3      149.7     270.6      180.4         90.3            .2
                                                                                                                                                                                                
1993:I.....................................      421.4     347.0       85.7      261.2         90.4         17.9      36.3      436.0      151.5     284.6      190.2         94.4         -14.6
      II...................................      443.2     375.7       88.1      287.6        108.4         28.6      38.1      458.8      162.6     296.2      195.8        100.4         -15.6
      III..................................      465.9     393.1       88.8      304.3        106.0         27.0      42.4      458.0      159.3     298.6      200.2         98.4           7.9
      IV...................................      500.4     436.8      101.3      335.4        134.0         28.7      39.8      504.5      181.7     322.7      202.9        119.8          -4.0
                                                                                                                                                                                                
1994:I.....................................      467.8     407.0       64.9      342.1        145.3         28.8      38.3      471.7      171.4     300.3      204.4         95.9          -3.9
      II...................................      513.4     452.4       97.8      354.6        134.2         39.5      43.2      523.2      192.8     330.4      208.8        121.7          -9.8
      III..................................      531.0     469.9      108.4      361.5        142.8         34.3      43.7      547.5      203.4     344.1      212.5        131.6         -16.5
      IV...................................      547.6     485.5      106.4      379.0        148.4         35.4      43.6      570.4      213.5     356.8      218.5        138.3         -22.8
                                                                                                                                                                                                
1995:I.....................................      542.2     467.5      114.3      353.2        134.7         29.7      36.0      594.1      217.3     376.8      221.7        155.1         -51.9
      II...................................      546.1     468.2      112.6      355.6        137.8         26.4      36.6      588.4      214.2     374.1      224.6        149.6         -42.3
      III..................................      600.3     527.1      130.4      396.7        153.2         31.2      42.5      609.6      224.5     385.1      228.5        156.6          -9.3
      IV...................................      602.2     513.7      119.3      394.4        157.3         31.2      39.6      611.0      218.7     392.3      234.7        157.6         r-8.8
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    \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.
    Source: Department of Commerce, 
Bureau of Economic Analysis.