Selected Quarterly Financial Data

Selected Quarterly Financial Data
2010 (dollars in millions, unaudited)	Quarter 1	Quarter 2	Quarter 3	Quarter 4
Operating revenue	$ 18,355	$ 16,697	$ 16,045^a	$ 15,955
Total operating expenses	18,618	18,250	19,510^b	19,048
Loss from operations	(263)	(1,553)	(3,465)	(3,093)
Interest income (expense) – net	(34)	(31)	(33)	(33)
Net (Loss)	$ (297)	$ (1,584)	$ (3,498)	$ (3,126)
2009 (dollars in millions, unaudited)
Operating revenue	$ 19,095	$ 16,938	$ 16,339	$ 15,718^c
Total operating expenses	19,475	18,840	18,721^c	14,794^e
(Loss) Income from operations	(380)	(1,902)	(2,382)	924
Interest income (expense) – net	(4)	(3)	(19)	(28)
Net (Loss) Income	$ (384)	$ (1,905)	$ (2,401)	$ 896
2008 (dollars in millions, unaudited)
Operating revenue	$ 20,369	$ 18,916	$ 17,910^f	$ 17,737
Total operating expenses	19,683	19,622	19,015	19,418
Income (Loss) from operations	686	(706)	(1,105)	(1,681)
Interest income (expense) – net	(14)	(1)	7	8
Net Income (Loss)	$ 672	$ (707)	$ (1,098)	$ (1,673)
a – includes the impact of the $103 million increase to the stamp portion of the deferred revenue-prepaid postage liability, due to change in estimate. b – includes the impact of the $1,656 million increase in workers’ compensation expense, due to a change in discount and inflation rates. c – includes the impact of the $807 million increase in workers’ compensation expense, due to a change in discount and inflation rates. d – includes the impact of the $655 million increase to the stamp portion of the deferred revenue-prepaid postage liability, due to a change in estimate. e – includes the impact of the $4 billion reduction in the PSRHBF contribution due to P.L. 111-68. f – includes the impact of the $450 million increase to the stamp portion of the deferred revenue-prepaid postage liability, due to a change in estimate.