Financial Results

Quarter II of Fiscal Year 2012
May 10, 2012

Joe Corbett
Chief Financial Officer & Executive Vice President

Download the PDF version


Key Highlights


Financial Results:
Quarter II (Jan – Mar)

Quarter II YTD (3 Months) (Billions) FY 2012 FY 2011
Revenue $16.2 $16.2
Expenses 16.7 16.7
Operating Income (Loss)* (0.5) (0.5)
Retiree Heath Bfts. Pre-Funding (3.0) (1.4)
Workers' Comp: Fair Value Adjmt 0.6 0.2
Workers' Comp: Claims & Adjmts (0.3) (0.5)
Net Income (Loss) ($3.2) ($2.2)
Volume (pieces) 39.5 41.2
*Before RHBPre-Funding & Non-Cash Adjustments to Workers' Compensation Liabilities

Financial Results:
March Year to Date

Quarter II YTD (6 Months) (Billions) FY 2012 FY 2011
Revenue $33.9 $34.1
Expenses 34.1 34.2
Operating Income (Loss)* (0.2) (0.1)
Retiree Heath Bfts. Pre-Funding (6.1) (2.8)
Workers' Comp: Fair Value Adj 0.5 1.0
Workers' Comp: Other Non Cash Adj (0.7) (0.7)
Net Income (Loss) ($6.5) ($2.6)
Volume (pieces) 83.2 87.7
*Before RHBPre-Funding & Non-Cash Adjustments to Workers' Compensation Liabilities

Total Revenue:
March YTD 2012 and 2011

Total Revenue: March YTD 2012 and 2011

Revenue: March YTD 2012 and 2011
Shipping Services and Packages

Revenue: March YTD 2012 and 2011 Shipping Services and Packages

Financial Results:
March Year to Date

Quarter II YTD (6 Months) (Billions) FY 2012 FY 2011
Revenue $33.9 $34.1
Expenses 34.1 34.2
Operating Income (Loss)* (0.2) (0.1)
Retiree Heath Bfts. Pre-Funding (6.1) (2.8)
Workers' Comp: Fair Value Adj 0.5 1.0
Workers' Comp: Other Non Cash Adj (0.7) (0.7)
Net Income (Loss) ($6.5) ($2.6)
Volume (pieces) 83.2 87.7
*Before RHBPre-Funding & Non-Cash Adjustments to Workers' Compensation Liabilities

Expenses:
March Year to Date

Quarter II YTD (6 Months) (Billions) FY 2012 FY 2011
Compensation $18.4 $18.8
Benefits 7.7 7.5
Transportation 3.4 3.2
Depreciaton 1.1 1.2
Supplies & Services 1.1 1.1
Rent, Utilities & Other 2.4 2.4
Operating Expenses $ 34.1 $ 34.2
*Before RHBPre-Funding & Non-Cash Adjustments to Workers' Compensation Liabilities

Financial Results:
March Year to Date

Quarter II YTD (6 Months) (Billions) FY 2012 FY 2011
Revenue $33.9 $34.1
Expenses 34.1 34.2
Operating Income (Loss)* (0.2) (0.1)
Retiree Health Benefits Pre-Funding (6.1) (2.8)
Workers' Comp Fair Value Adj. 0.5 1.0
Workers' Comp. Other Non Cash Adj. (0.7) (0.7)
New Income (Loss) ($6.5) ($2.6)
Volume (Pieces) 83.2 87.7
*Before RHBPre-Funding & Non-Cash Adjustments to Workers' Compensation Liabilities

Productivity Continues to Improve

Productivity Continues to Improve

$25 Million Loss Per Day

2012 Operating Loss (Before USPS initiatives $ (5.4) Billion
New improvements: Workhours 7 Revenue 1.9
  Subtotal $ (3.5)
2012 RHB Pre-Funding * (5.6)
  2012 Net Loss, Without Legislation $ (9.1) Billion
Total Number of Days ÷ 365
Net Loss per Day $ (25) Million

*Reflects 2012 pre-funding payment only. Payment due August 1 was originally scheduled for 2011

2012 & 2013 Liquidity

2012 & 2013 Liquidity

Complete Financial results are in the Form 10-Q:

http://about.usps.com/who-we-are/financials/welcome.htm

Q & A

Additional questions can be emailed to:
Susan.Mcgowan@usps.gov
David.A.Partenheimer@usps.gov