Per-for-mance  n [from Latin per- thoroughly + fournir to complete] 1:  the efficient fulfillment of a claim, promise, or request 2:  what you can count on, every day, from the United States Postal Service.

NITRILE GLOVES: Industrial strength protective hand coverings that are highly resistant to a wide range of chemicals, abrasions and punctures.

PERIODICALS: A class of mail, formerly called second-class mail, that consists of magazines, newspapers, and other publications.

POINT-OF-SERVICE ONE (POS ONE): An electronic retail sales device that assists employees with retail transactions and provides product inventory and sales information.

POSTAL INSPECTION SERVICE: The investigative arm of the Postal Service responsible for investigating criminal acts involving the mails and misuse of the postal system.

POSTAL RATE COMMISSION (PRC): An independent federal agency that makes recommendations concerning Postal Service requests for changes in postal rates and mail classifications.

POSTMASTER GENERAL (PMG): The chief executive officer of the Postal Service, appointed by and serving at the pleasure of the Governors.

PRESENT VALUE: The value today of a future payment that is discounted at a stated rate of compound interest. For example, the present value of $100 that will be paid to the Postal Service 10 years from now is about $38.55, if we discount that $100 at a rate equal to 10 percent interest compounded annually.

PRIORITY MAIL: Priority Mail provides two- to three-day delivery service.

PRIORITY MAIL GLOBAL GUARANTEED^®: An alliance with DHL Worldwide Express, Inc. providing day-certain delivery guaranteed service to 65 countries around the world.

PROCESSING AND DISTRIBUTION CENTER (P&DC): A large mail-sorting and dispatching plant that serves as a hub for mail originating from post offices, collection boxes and customer mailboxes, and large-volume mailers in a designated service area.

RECEIVABLE: Money that is owed to the Postal Service.

RECOGNIZE: To record in Postal Service accounts as income or expense.

STANDARD MAIL: Name for the bulk advertising mail formerly known as Third-Class Mail.

U.S. MAIL: Any mailable matter that is accepted for mail processing and delivery by the Postal Service.

UNITED STATES POSTAL SERVICE (USPS): The successor to the Post Office Department, the USPS was established by the Postal Reorganization Act of 1970 and began operations on July 1, 1971, as an independent, self-supporting federal agency within the executive branch.

UNIVERSAL SERVICE: The Postal Service’s mandate and commitment to the nation to provide mail delivery service at uniform and reasonable rates to everyone, everywhere.

YEAR: As used in the financial section of this report, it means the Postal Service fiscal year, which is the 12-month period during which the Postal Service keeps accounts, beginning October 1 and closing September 30.