| |
| |
|
2001
|
2000*
|
1999*
|
1998*
|
1997*
|
 |
| Statement
of Operations |
|
|
|
|
|
|
| |
(dollars
in billions) |
|
|
|
|
|
|
| |
Total
revenue |
|
$
65.9
|
$
64.6
|
$
62.7
|
$
60.1
|
$
58.3
|
| |
Total
expense |
|
67.6
|
64.8
|
62.4
|
59.5
|
57.0
|
| |
|
|
|
|
|
|
|
| |
Net
(loss) income
|
|
$
(1.7)
|
$
(0.2)
|
$
0.4
|
$
0.6
|
$
1.3
|
| |
(dollars
in millions) |
|
|
|
|
|
|
| |
Operating
revenue |
|
$
65,767
|
$ 64,476
|
$ 62,655
|
$ 60,005
|
$ 58,133
|
| |
Revenue
forgone appropriation |
|
67
|
64
|
71
|
67
|
83
|
| |
|
|
|
|
|
|
|
| |
Total
operating revenue |
|
65,834
|
64,540
|
62,726
|
60,072
|
58,216
|
| |
|
|
|
|
|
|
|
| |
Compensation
and benefits |
|
51,351
|
49,532
|
47,333
|
45,596
|
44,093
|
| |
Restructuring
costs |
|
—
|
—
|
—
|
—
|
—
|
| |
Other
expenses |
|
14,289
|
13,460
|
13,309
|
12,190
|
11,038
|
| |
|
|
|
|
|
|
|
| |
Total
operating expenses |
|
65,640
|
62,992
|
60,642
|
57,786
|
55,131
|
| |
|
|
|
|
|
|
|
| |
Income
from operations |
|
194
|
1,548
|
2,084
|
2,286
|
3,343
|
| |
Interest
and investment income |
|
35
|
41
|
29
|
44
|
115
|
| |
Interest
expense on deferred retirement liabilities |
|
(1,603)
|
(1,568)
|
(1,592)
|
(1,613)
|
(1,629)
|
| |
Interest
expense on borrowings |
|
(306)
|
(220)
|
(158)
|
(167)
|
(307)
|
| |
|
|
|
|
|
|
|
| |
Income
(loss) before retroactive assessments and extraordinary items |
|
(1,680)
|
(199)
|
363
|
550
|
1,264
|
| |
Retroactive
assessments for employee benefits ** |
|
—
|
—
|
—
|
—
|
—
|
| |
|
|
|
|
|
|
|
| |
Income
(loss) before extraordinary item |
|
(1,608)
|
(199)
|
363
|
550
|
1,264
|
| |
Extraordinary
item - debt refinancing premium |
|
—
|
—
|
—
|
—
|
—
|
| |
|
|
|
|
|
|
|
| |
Net
(loss) income |
|
$
(1,680)
|
$
(199)
|
$
363
|
$
550
|
$
1,264
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Balance
Sheets |
|
|
|
|
|
|
| |
Assets |
|
|
|
|
|
|
| |
Current
assets |
|
$
1,933
|
$
1,655
|
$
1,296
|
$ 1,893
|
$
1,736
|
| |
Property
and equipment, deferred retirement costs and other assets |
|
57,158
|
56,628
|
54,713
|
53,015
|
51,675
|
| |
|
|
|
|
|
|
|
| |
Total
Assets |
|
$
59,091
|
$ 58,283
|
$ 56,009
|
$ 54,908
|
$ 53,411
|
| |
|
|
|
|
|
|
|
| |
Liabilities |
|
|
|
|
|
|
| |
Current
liabilities |
|
$17,457
|
$ 18,277
|
$ 15,436
|
$ 15,278
|
$ 14,107
|
| |
Other
liabilities |
|
38,209
|
38,150
|
37,466
|
37,652
|
37,439
|
| |
Long-term
debt |
|
5,751
|
2,502
|
3,554
|
2,788
|
3,225
|
| |
(Net
capital deficiency)/equity |
|
(2,326)
|
(646)
|
(447)
|
(810)
|
(1,360)
|
| |
|
|
|
|
|
|
|
| |
Total
liabilities and (net capital deficiency)/equity |
|
$
59,091
|
$ 58,283
|
$ 56,009
|
$ 54,908
|
$ 53,411
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| Changes
in (Net Capital Deficiency)/Equity |
|
|
|
|
|
|
| |
Beginning
balances |
|
|
|
|
|
|
| |
Capital
contributions of the U.S. government |
|
$
3,034
|
$ 3,034
|
$ 3,034
|
$ 3,034
|
$ 3,034
|
| |
Deficit
since reorganization |
|
(3,680)
|
(3,481)
|
(3,844)
|
(4,394)
|
(5,658)
|
| |
|
|
|
|
|
|
|
| |
Total
beginning balance (net capital deficiency)/equity |
|
(646)
|
(447)
|
(810)
|
(1,360)
|
(2,624)
|
| |
Net
(loss) income |
|
(1,680)
|
(199)
|
363
|
550
|
1,264
|
| |
|
|
|
|
|
|
|
| |
Ending
balance*** |
|
$
(2,326)
|
$ (646)
|
$ (447)
|
$ (810)
|
$ (1,360)
|
| |
|
|
|
|
|
|
|
* Certain reclassifications have
been made to previously reported amounts.
** Relates to OBRA 1990 and 1993.
*** Some totals may not add exactly due to rounding. |
|
continue...