Financial History Summary

 

Financial History Summary (dollars in millions)

 

2010

2009

2008

2007

2006

Statements of Operations

Total revenue

$ 67,077)

$ 68,116

$ 74,968)

$ 74,973

$ 72,817

Total expense**

75,582)

71,910

77,774)

80,115

71,917

Net (Loss) Income

$ (8,505))

$ (3,794)

$ (2,806))

$ (5,142)

$ 900

Operating Revenue

$ 66,963)

$ 68,043

$ 74,829)

$ 74,715

$ 75,551

Revenue foregone

89)

47

103)

63

99

Total operating Revenue

67,052)

68,090

74,932)

74,778

72,650

Compensation and benefits**

49,035)

50,931

52,358)

53,306

53,386

Retiree health benefits**

7,747)

3,390

7,407)

10,084

1,637

Workers’ compensation

3,566)

2,223

1,227)

880

1,279

Other expenses

15,078)

15,286

16,746)

15,835

15,379

Total operating expenses**

75,426)

71,830

77,738)

80,105

71,681

(Loss) Income from operations

(8,374))

(3,740)

(2,806))

(5,327)

969

Interest and investment income

25)

26

36)

195

167

Interest expense deferred retirement

)

)

(231)

Other interest expense

(156))

(80)

(36))

(10)

(5)

Net (Loss) Income

$ (8,505))

$ (3,794)

$ (2,806))

$ (5,142)

$ 900

Balance Sheets

Current assets*

$ 2,354)

$ 5,051

$ 2,354)

$ 1,859

$ 2,041

Property, equipment, and other assets

21,972

23,067

23,632

23,988

26,447

Total Assets

$ 24,326

$ 28,118

$ 25,986

$ 25,847

$ 28,488

Current liabilities*

$ 18,676

$ 14,250

$ 16,871

$ 13,923

$ 11,719

Other liabilities*

19,523

19,281

10,787

10,790

10,493

(Deficit) equity

(13,873)

(5,413)

(1,672)

1,134

6,276

Total Liabilities and Net Capital

$ 24,326

$ 28,118

$ 25,986

$ 25,847

$ 28,488

Changes in Net Capital

Capital contributions of U.S. Government

$ 3,087

$ 3,034

$ 3,034

$ 3,034

$ 3,034

(Deficit) equity since 1971 reorganization

(8,500)

(4,706)

(1,900)

3,242

2,342

Total beginning balance

(5,413)

(1,672)

1,134

6,276

5,376

Additional capital contributions

45

53

Net (Loss) Income

(8,505)

(3,794)

(2,806)

(5,142)

900

Ending Balance

$ (13,873)

$ (5,413)

$ (1,672)

$ 1,134

$ 6,276

*Certain reclassifications have been made to previously reported amounts.

**The net impact of P.L. 111-68 was $4.0 billion reduction of expense in 2009. 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 $6.1 billion in CSRS savings).