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Statements of operations

(Dollars in millions)

Year Ended September 30,


blank 2005 2004 2003
Operating revenue $69,907
 $68,996
 $68,529
Operating expenses:
Compensation and benefits 53,932 52,134 50,428
Transportation 5,437 4,969 4,989
Other 8,914    8,748    8,485
Total operating expenses 68,283
 65,851
 63,902

  Income from operations		 1,624
 3,145
 4,627

  Interest and investment income		 86
 33
58
  Interest expense on deferred retirement obligations (263) (103) (116)
  Debt repurchase expense - - (360)
  Other interest expense (2) (10) (334)
  Emergency preparedness appropriations - - 177
  Emergency preparedness expenses
-
 -    (184)
  Net Income $1,445 $3,065 $3,868

   See accompanying notes to financial statements.