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balance sheets

blank	September 30,
(Dollars in millions)	2004	2003
Liabilities and Net Capital
Current Liabilities
Compensation and benefits	$ 2,640	$2,518
Estimated prepaid postage	1,256	1,349
Payables and accrued expenses:
Commercial vendors and accrued expenses	1,739	2,146
Foreign countries	778	879
U.S. government	87	83
Total payables and accrued expenses	2,604	3,108
Customer deposit accounts	1,606	1,566
Outstanding postal money orders	767	768
Prepaid box rentals and other deferred revenue	397	387
Debt	1,800	7,273
Total Current Liabilities	11,070	16,969
Non-Current Liabilities:
Workers' compensation costs	6,651	6,324
Employees' accumulated leave	2,006	1,932
Other	1,321	1,151
Total Non-Current Liabilities	9,978	9,407
Total Liabilities	21,048	26,376
Net Capital
Capital contributions of the U.S. government	3,034	3,034
Retained earnings (deficit) since reorganization	897	(2,168)
Total Net Capital	3,931	866
Total Liabilities and Net Capital	$24,979	$27,242

See accompanying notes to financial statements.