FY2013 Financial Summary and Operating Statistics

Financial history summary

(dollars in millions)

 

 

2013

2012

2011

2010

2009

Operating results

Operating revenue

$ 67,318

$ 65,223

$ 65,711

$ 67,052

$ 68,090

Operating expenses

 

 

 

 

 

Compensation and benefits

46,708

47,689

48,310

48,909

50,883

Retiree health benefits*

8,450

13,729

2,441

7,747

3,390

All other operating expenses

16,970

19,546

19,883

18,770

17,557

Total operating expenses*

$ 72,128

$ 80,964

$ 70,634

$ 75,426

$ 71,830

 

 

 

 

 

 

Operating loss

$ (4,810)

$ (15,741)

$ (4,923)

$ (8,374)

$ (3,740)

Net loss

(4,977)

(15,906)

(5,067)

(8,505)

(3,794)

 

 

 

 

 

 

P.L. 109-435 PSRHBF expenses*

$ 5,600

$ 11,100

$

$ 5,500

$ 1,400

Workers’ compensation expenses

1,061

3,729

3,672

3,566

2,223

 

 

 

 

 

 

Financial position

Cash and cash equivalents

$ 2,326

$ 2,086

$ 1,283

$ 1,161

$ 4,089

Property and equipment, net

17,512

18,863

20,337

21,595

22,680

All other assets

1,803

1,662

1,793

1,570

1,349

Total assets

21,641

22,611

23,413

24,326

28,118

 

 

 

 

 

 

Accrued contributions to PSRHBF

$ 16,700

$ 11,100

$

$

$

Workers' compensation liability

17,240

17,567

15,142

12,589

10,133

Debt

15,000

15,000

13,000

12,000

10,200

All other liabilities

12,524

13,790

14,211

13,610

13,198

Total liabilities

61,464

$ 57,457

$ 42,353

$ 38,199

$ 33,531

 

 

 

 

 

 

Net capital

Capital contributions of the U.S. government

$ 3,132

$ 3,132

$ 3,132

$ 3,132

$ 3,087

Deficit since 1971 reorganization

(42,955)

(37,978)

(22,072)

(17,005)

(8,500)

Total net (deficiency) capital

$ (39,823)

$ (34,846)

$ (18,940)

$ (13,873)

$ (5,413)

*Due to the passage of P.L. 112-33 which changed the due date of the scheduled PSRHBF prefunding payment of $5.5 billion originally due by September 30, 2011 into 2012, PSRHBF expenses were zero in 2011. As a result, total PSRHBF expenses in 2012, including the previously scheduled prefunding payment of $5.6 billion due by September 30, 2012, were $11.1 billion. In 2009, P.L.111-68 changed the PSRHBF payment from $5.4 billion to $1.4 billion.

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