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statements of cash flows

blank	Year ended September 30,
(dollars in millions)	2004	2003	2002
Cash flows from operating activities:
Net income (loss)	$3,065	$3,868	$ (676)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	2,145	2,295	2,296
Loss on disposals of property and equipment, net	71	64	6
Decrease in other assets, principally revenue forgone appropriations receivable	4	3	4
Increase in workers' compensation liability	343	526	734
Increase (decrease) in employees' accumulated leave	74	(156)	(36)
Increase (decrease) in other non-current liabilities	170	(31)	196
Changes in current assets and liabilities:
Decrease (increase) in receivables, net	167	(394)	(189)
Decrease (increase) in supplies, advances and prepayments	146	(39)	(7)
Increase (decrease) in compensation and benefits	106	(427)	(877)
Decrease in estimated prepaid postage	(93)	(151)	(123)
(Decrease) increase in payables and accrued expenses	(412)	1,201	(80)
Increase (decrease) in customer deposit accounts	40	(138)	145
Decrease in outstanding postal money orders	(1)	(218)	(2)
Increase in prepaid box rent and other deferred revenue	10	2	52
Net cash provided by operating activities	5,835	6,405	1,443
Cash flows from investing activities:
Purchase of property and equipment	(1,685)	(1,314)	(1,705)
Proceeds from sale of property and equipment	26	37	30
Net cash used in investing activities	(1,659)	(1,277)	(1,675)
Cash flows from financing activities:
U.S. government appropriations - Received	—	—	762
U.S. government appropriations - Expended	(92)	(177)	(179)
Issuance of debt	—	4,609	2,700
Payments of debt	(5,473)	(8,450)	(2,900)
Net cash (used in) provided by financing activities	(5,565)	(4,018)	383
Net (decrease) increase in cash and cash equivalents	(1,389)	1,110	151
Cash and cash equivalents at beginning of year	2,266	1,156	1,005
Cash and cash equivalents at end of year	$ 877	$2,266	$1,156

See accompanying notes to financial statements.