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Financial History Summary

 

2008

2007

2006

2005

2004

(Dollars in millions)

Statements of Operations

Total revenue

 $ 74,968

$ 74,973

$ 72,817

$ 69,993

$ 69,029

Total expense **

 77,774

80,115

71,917

68,548

65,964

Net (Loss) Income

$ (2,806)

$ (5,142)

$ 900

$ 1,445

$ 3,065

 

 

 

 

 

 

Operating revenue

 $ 74,829

$ 74,715

$ 72,551

$ 69,798

$ 68,960

Revenue foregone

 103

63

99

109

36

Total operating revenue

74,932

74,778

72,650

69,907

68,996

Compensation and benefits**

 53,585

54,186

54,665

52,449

50,821

Retiree health benefits **

 7,407

10,084

1,637

1,495

1,313

Other expenses

 16,746

15,835

15,379

14,337

13,717

Total operating expenses **

77,738

80,105

71,681

68,281

65,851

Income from operations

(2,806)

(5,327)

969

1,626

3,145

Interest and investment income

 36

195

167

86

33

Interest expense deferred retirement

(231)

(263)

(103)

Other interest expense

 (36)

(10)

(5)

(4)

(10)

Net (Loss) Income

$ (2,806)

$ (5,142)

$ 900

$ 1,445

$ 3,065

Balance Sheets

Current assets

$ 2,354

$ 1,859

$ 2,041

$ 1,933

$ 1,851

Property, equipment, and other assets

 23,632

23,988

26,447

23,065

22,858

Total Assets

$ 25,986

$ 25,847

$ 28,488

$ 24,998

$ 24,709

Current liabilities *

$ 16,729

$ 13,804

$ 11,613

$ 9,160

$ 10,800

Other liabilities *

10,929

10,909

10,599

10,462

9,978

(Deficit) equity

 (1,672)

1,134

6,276

5,376

3,931

Total Liabilities and Net Capital

$ 25,986

$ 25,847

$ 28,488

$ 24,998

$ 24,709

Changes in Net Capital

Capital contributions of the U.S. government

$ 3,034

$ 3,034

$ 3,034

$ 3,034

$ 3,034

(Deficit) equity since 1971 reorganization

(1,900)

3,242

2,342

897

(2,168)

Total beginning balance

1,134

6,276

5,376

3,931

866

Net (loss) income

(2,806)

(5,142)

900

1,445

3,065

Ending Balance

$ (1,672)

$ 1,134

$ 6,276

$ 5,376

$ 3,931

* Certain reclassifications have been made to previously reported amounts.
** 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).

 

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