Balance Sheets Liabilities and Net Capital

September 30,


blank 2006 2005
(Dollars in millions)
Liabilities and Net Capital
Current Liabilities:
Compensation and benefits $    3,224 $    2,852
Payables and accrued expenses:
Trade payables and accrued expenses 1,481 1,363
Foreign countries 567 688
U.S. government 111 76
Total payables and accrued expenses 2,159 2,127
Customer deposit accounts 1,647 1,720
Deferred revenue - prepaid postage 1,187 1,200
Outstanding postal money orders 885 830
Prepaid box rent and other deferred revenue 454 477
Debt 2,100 –
Total Current Liabilities 11,656 9,206

Non-Current Liabilities:
Workers’ compensation costs 6,869 6,695
Employees’ accumulated leave 2,116 2,016
Deferred appropriations revenue 631 692
Long-term portion capital lease obligations 637 644
Other 303 369
Total Non-Current Liabilities 10,556 10,416
Total Liabilities 22,212 19,622
Net Capital
Capital contributions of the U.S. government 3,034 3,034
Retained earnings since reorganization 3,242 2,342
Total Net Capital 6,276 5,376
Total Liabilities and Net Capital $    28,488 $    24,998

See accompanying notes to the financial statements