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).