Financial History Summary
| 2007 | 2006 | 2005 | 2004 | 2003 | |
| (Dollars in millions) | |||||
| Statement of Operations | |||||
| Total revenue | $ 74,973 | $ 72,817 | $ 69,993 | $ 69,029 | $ 68,764 |
| Total expense*** | 80,115 | 71,917 | 68,548 | 65,964 | 64,896 |
| Net (Loss) Income | $ (5,142) | $ 900 | $ 1,445 | $ 3,065 | $ 3,868 |
| Operating revenue | $ 74,715 | $ 72,551 | $ 69,798 | $ 68,960 | $ 68,498 |
| Revenue forgone | 63 | 99 | 109 | 36 | 31 |
| Total operating revenue | 74,778 | 72,650 | 69,907 | 68,996 | 68,529 |
| Compensation and benefits*** | 54,186 | 54,665 | 52,449 | 50,821 | 49,295 |
| Retiree health benefits *** | 10,084 | 1,637 | 1,495 | 1,313 | 1,133 |
| Other expenses | 15,835 | 15,379 | 14,337 | 13,717 | 13,474 |
| Total operating expenses*** | 80,105 | 71,681 | 68,281 | 65,851 | 63,902 |
| Income from operations | (5,327) | 969 | 1,626 | 3,145 | 4,627 |
| Interest and investment income | 195 | 167 | 86 | 33 | 58 |
| Interest expense on deferred retirement | — | (231) | (263) | (103) | (116) |
| Other interest expense * * | (10) | (5) | (4) | (10) | (694) |
| Emergency preparedness, net | — | — | — | — | (7) |
| Net (Loss) Income | $ (5,142) | $ 900 | $ 1,445 | $ 3,065 | $ 3,868 |
Balance Sheets |
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| Current assets * | $ 1,859 | $ 2,041 | $ 1,933 | $ 1,851 | $ 3,607 |
| Property, equipment, and other assets | 23,988 | 26,447 | 23,065 | 22,858 | 23,419 |
| Total assets | $ 25,847 | $ 28,488 | $ 24,998 | $ 24,709 | $ 27,026 |
| Current liabilities * | $ 13,778 | $ 11,613 | $ 9,160 | $10,800 | $ 16,753 |
| Other liabilities * | 10,935 | 10,559 | 10,462 | 9,978 | 9,407 |
| Equity | 1,134 | 6,276 | 5,376 | 3,931 | 866 |
| Total liabilities and net capital | $ 25,847 | $ 28,488 | $ 24,998 | $24,709 | $ 27,026 |
Changes in Net Capital (deficiency) |
|||||
| Beginning balances: | |||||
| Capital contributions of the U.S. Government | $ 3,034 | $ 3,034 | $ 3,034 | $ 3,034 | $ 3,034 |
| Retained earnings (deficit) since reorganization | 3,242 | 2,342 | 897 | (2,168) | (6,036) |
| Total beginning balance net capital (deficiency) | 6,276 | 5,376 | 3,931 | 866 | (3,002) |
| Net income (loss) | (5,142) | 900 | 1,445 | 3,065 | 3,868 |
| Total Ending Balance Net Capital | $ 1,134 | $ 6,276 | $ 5,376 | $ 3,931 | $ 866 |
* Certain reclassifications have been made to previously reported amounts.
** 2003 Includes $360 million in debt repurchase expense.
*** The net impact of P.L.109-435 legislation was $6.8 billion of additional expense in 2007 ($8.4 billion in additional retiree health benefits less $1.6 billion in CSRS savings).