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financial history summary

	1998*	1997*	1996*	1995*	1994*
Statements of Operations
(Dollars in billions)
Total revenue	$60.1	$58.3	$56.6	$54.5	$49.6
Total expense	59.5	57.0	55.0	52.7	50.5
Net income (loss)	$0.6	$1.3	$1.6	$1.8	$(0.9)
(Dollars in millions)
Operating revenue	$60,005	$58,133	$56,309	$54,176	$49,252
Revenue forgone appropriation	67	83	93	117	131
Total operating revenue	60,072	58,216	56,402	54,293	49,383
Compensation and benefits	45,596	44,093	42,676	41,93	39,609
Other expenses	12,190	11,038	10,437	8,799	8,846
Total operating expenses	57,786	55,131	53,113	50,730	48,455
Income from operations	2,286	3,085	3,289	3,563	928
Interest and investment income	44	115	142	216	193
Interest expense on deferred retirement obligations	(1,613)	(1,629)	(1,496)	(1,443)	(1,433)
Other interest expense	(167)	(307)	(368)	(566)	(601)
Emergency preparedness, net	—	—	—	—	—
Net income (loss)	$550	$1,264	$1,567	$1,770	$(913)
Balance Sheets
Assets
Current assets	$1,893	$1,736	$1,670	$2,975	$2,683
Property and equipment, deferred retirement costs and other assets	53,015	51,675	50,157	46,146	43,733
Total assets	$54,908	$53,411	$51,827	$49,121	$46,416
Liabilities and net capital (deficiency)
Current liabilities	$15,278	$14,107	$12,796	$11,499	$11,665
Other liabilities	37,652	37,439	37,746	34,794	32,985
Long-term debt	2,788	3,225	3,909	7,019	7,727
Net capital (deficiency)	(810)	(1,360)	(2,624)	(4,191)	(5,961)
Total liabilities and net capital (deficiency)	$54,908	$53,411	$51,827	$49,121	$46,416
Changes in Net Capital (Deficiency)
Beginning balances
Capital contributions of the U.S. government	$3,034	$3,034	$3,034	$3,034	$3,034
Deficit since reorganization	(4,394)	(5,658)	(7,225)	(8,995)	(8,082)
Total beginning balance net capital (deficiency)	(1,360)	(2,624)	(4,191)	(5,961)	(5,048)
Net income (loss)	550	1,264	1,567	1,770	(913)
Ending balance	$(810)	$(1,360)	$(2,624)	$(4,191)	$(5,961)

* Certain reclassifications have been made to previously reported amounts.

* Certain reclassifications have been made to previously reported amounts. * Certain reclassifications have been made to previously reported amounts. * Certain reclassifications have been made to previously reported amounts. * Certain reclassifications have been made to previously reported amounts.