|
2003 |
2002* |
2001* |
|
Statement of Operations |
(dollars in billions) |
Total revenue |
$ 68.8 |
$ 66.7 |
$ 65.9![](/oldassets/history/anrpt03/images/white.gif) |
Total expense |
64.9
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
67.4
![](/oldassets/history/anrpt03/images/blueline.gif) |
67.6
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Net income (loss) |
3.9
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
$ (0.7)
![](/oldassets/history/anrpt03/images/blueline.gif) |
$ (1.7)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
(dollars in millions) |
Operating revenue |
$68,498 |
$66,415 |
$65,767 |
Revenue forgone appropriation |
31
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
48
![](/oldassets/history/anrpt03/images/blueline.gif) |
67
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Total operating revenue |
68,529
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
66,463
![](/oldassets/history/anrpt03/images/blueline.gif) |
65,834
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Compensation and benefits |
50,428 |
51,557 |
51,351 |
Restructuring costs |
— |
— |
— |
Other expenses |
13,474
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
13,677
![](/oldassets/history/anrpt03/images/blueline.gif) |
14,289
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Total operating expenses |
63,902
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/spacer.gif) |
65,234
![](/oldassets/history/anrpt03/images/blueline.gif) |
65,640
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Income from operations |
4,627 |
1,229 |
194 |
Interest and investment income |
58 |
46 |
35 |
Interest expense on deferred retirement liabilities |
(116) |
(1,601) |
(1,603) |
Interest expense on borrowings |
(694)** |
(340) |
(306) |
Emergency preparedness, net |
(7)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
(10)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
—
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Income (loss) before retroactive assessments and extraordinary items |
3,868 |
(676) |
(1,680) |
Retroactive assessments for employee benefits*** |
—
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
—
![](/oldassets/history/anrpt03/images/blueline.gif) |
—
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Income (loss) before extraordinary item |
3,868 |
(676) |
(1,680) |
Extraordinary item — debt restructuring premium |
—
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
—
![](/oldassets/history/anrpt03/images/blueline.gif) |
—
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Net income (loss) |
$ 3,868
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
$ (676)
![](/oldassets/history/anrpt03/images/doubleblueline.gif) |
$(1,680)
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
|
Balance Sheets |
Assets |
Current assets |
$ 3,823 |
$ 2,280 |
$ 1,993 |
Property and equipment, deferred retirement costs and other assets |
23,419
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
56,735
![](/oldassets/history/anrpt03/images/blueline.gif) |
57,158
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Total Assets |
$27,242
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
$59,015
![](/oldassets/history/anrpt03/images/doubleblueline.gif) |
$59,091
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Liabilities and net capital (deficiency) |
Current liabilities |
17,093 |
$15,586 |
$17,457 |
Other liabilities |
9,282 |
39,131 |
38,209 |
Long-term debt |
1 |
7,300 |
5,751 |
Net capital (deficiency) |
866
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
(3,002)
![](/oldassets/history/anrpt03/images/blueline.gif) |
(2,326)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Total liabilities and net capital (deficiency) |
$27,242
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
$59,015
![](/oldassets/history/anrpt03/images/doubleblueline.gif) |
$59,091
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
|
Changes is Net Capital (Deficiency) |
Beginning balances |
Capital contributions of the U.S. government |
3,034 |
$ 3,034 |
$ 3,034 |
Deficit since reorganization |
(6,036)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
(5,360)
![](/oldassets/history/anrpt03/images/blueline.gif) |
(3,680)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Total beginning balance net capital (deficiency) |
(3,002) |
(2,326) |
(646) |
Net income (loss) |
3,868
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
(676)
![](/oldassets/history/anrpt03/images/blueline.gif) |
(1,680)
![](/oldassets/history/anrpt03/images/blueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
Ending balance**** |
$ 866
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
$ (3,002)
![](/oldassets/history/anrpt03/images/doubleblueline.gif) |
$ (2,326)
![](/oldassets/history/anrpt03/images/doubleblueline.gif) ![](/oldassets/history/anrpt03/images/white.gif) |
|
* Certain reclassifications have been made to previously reported amounts. |
** Includes $360 million in debt repurchase expense. |
*** Relates to OBRA 1993. |
**** Some totals may not add exactly due to rounding. |
|