Transactions in Nonfi nancial Assets 229
cases, subsoil assets may be owned separately from
the land and separate valuations should be estimated
if possible. On the other hand, the law may stipulate
that the ownership of the subsoil assets is inseparably
linked to that of the land. For a fi nancial lease of a
building or plantation on the land when the assets are
inseparable, see paragraph 7.95.
8.52 When governments acquire land (or other
assets) under a compulsory sale by the owners, any
diff erence between the market value of the assets ac-
quired and any compensation provided is recorded as
other changes in the volume of assets, in the form of
an uncompensated seizure (see paragraph 10.62).
8.53 Th ere is no consumption of fi xed capital on
land, but there are transactions in consumption of
fi xed capital on land improvements (31114) and costs
of ownership transfer on land (which are included in
land improvements).
Mineral and energy resources (3142).
8.54 Transactions in mineral and energy resources
(3142) refer to acquisitions or disposals of deposits of
mineral and energy resources in which the ownership
of such assets passes from one institutional unit to an-
other. Reductions in the value of known reserves of
mineral and energy resources resulting from their de-
pletion as a result of extracting the assets for purposes
of production are not transactions but other changes
in the volume of assets, as described in paragraph
10.52. Similarly, increases in the values resulting from
discoveries are treated as other changes in the volume
of assets. Decreases arising from reappraisals are also
recorded as other changes in the volume of assets. Th e
transactions in mineral and energy resources refer only
to those mineral and energy resources over which
ownership rights have been established.Other naturally occurring assets (3143)
8.55 Transactions in noncultivated biological re-
sources, water resources, and other natural resources
relate to acquisitions or disposals of deposits of these
resources in which the economic ownership of such
assets passes from one institutional unit to another.
Similar to mineral and energy resources, depletion of
noncultivated biological resources, water resources,
or other natural resources, because a portion of the
asset has been extracted, is recorded as other changes
in the volume of assets, as described in paragraph
10.52, and not as a transaction in nonfi nancial assets.Intangible nonproduced assets (3144)
8.56 As explained in paragraphs 7.104–7.117, in-
tangible nonproduced assets consist of contracts,
leases, and licenses (31441) and goodwill and market-
ing assets (31442).
8.57 Contracts, leases, and licenses may be market-
able operating leases, licenses to use natural resources,
permits to undertake specifi c activities and entitle-
ment to future goods and services on an exclusive
basis. Th e specifi c stocks and fl ows involved with con-
tracts, leases, and licenses are discussed in Appendix 4.
8.58 As explained in paragraphs 7.113–7.117,
goodwill is recorded in GFS only when its value is
evidenced by a market transaction, usually the sale/
purchase of the whole corporation. Th e amortization
of goodwill and marketing assets or other intangible
nonproduced assets is an other e conomic fl ow rather
than a transaction (see paragraph 10.55).