3. FACILITIES
a. USPS Real Estate Inventory

	Total owned facilities	8,313
	Total owned interior square feet	222,068,232
	Total owned land in square feet	900,302,842
	Total leased facilities	26,319
	Total leased interior square feet	102,039,015
	Total GSA/other government facilities	431
	Total GSA/other government intreior square feet	4,067,574
	Annual rent paid to lessors	$841.1 million

b. Realty Asset Management

The Realty Asset Management function provides internal expertise to identify, analyze, and maximize the return on underutilized and surplus real property assets controlled by the Postal Service. This organization generates income from real estate assets by maximizing postal property value through its highest and best use, leasing or subleasing excess Postal Service space to government and public tenants, and selling surplus real property. During 2002, revenues totaling $86.6 million were generated by Realty Asset Management from the following sources:

	Leasing to private tenants	$ 9.2 million
	Leasing to government tenants	$31.2 million
	Sales of excess property	$25.5 million
	rent from developmental property	$20.7 million

c. Postal Service Facilities Workload

		Projects Completed During 2002	Projects Ongoing as of End of 2002
	New construction, major renovations, and expansion projects	61	138
	Building purchases	28	70
	New lease construction	140	117
	Other lease actions (alternate quarters, new leases, and lease renewals)	5,023	2,004
	Expense repair and alteration projects	6,615	3,744
	Capital repair and alteration projects	3,551	1,651