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).