Liability. Any debt or obligation that is owed by the Postal Service at some future period of time.
Mailing Services. Market-dominated products as defined by the PRC. These are products for which the Postal Service has market power to set prices substantially above costs without risk of losing business to others. The Mailing Services products include: First-Class Mail letters and sealed parcels; First-Class Mail cards; Periodicals; Standard Mail; single-piece Parcel Post; Media Mail; Bound Printed Matter; Library Mail; Special Services; and single-piece International Mail.
Operating Expense. Expenses that are incurred in providing our primary business services and products.
Operating Margin. A financial indication calculated by dividing income from operations by operating revenue.
Operating Revenue. Revenues that are earned from our primary business services and products.
OPM. Office of Personnel Management. The agency that manages and maintains the government retirement and health benefit plans.
Package Services. Mailing category offered for any merchandise or printed matter weighing up to 70 pounds. These services include Parcel Post, Bound Printed Matter, Library Mail, and Media Mail.
Payable. Money that is owed by the Postal Service.
Periodicals. A class of mail formerly called second-class mail that consists of magazines, newspapers, and other publications.
Postal Inspection Service. The investigative arm of the Postal Service responsible for investigating criminal acts involving the mail and misuse of the postal system.
Postal Regulatory Commission (PRC) (formerly the Postal Rate Commission). An independent federal establishment with oversight responsibility for the Postal Service to review and approve rates, review financial data, and hear and rule on rate and service complaints.
Prepaid. Payments made in advance of service being provided.
Present Value. The value today of a future payment that is discounted at a stated rate of compound interest. For example, the present value of $100 that will be paid to the Postal Service 10 years from now is about $38.55, if we discount that $100 at a rate equal to 10% interest compounded annually.
Priority Mail. Priority mail is a 1–3-day non-guaranteed delivery service.
Receivable. Money that is owed to the Postal Service.
Recognize. To record in Postal Service accounts as income or expense.
Repositionable Notes. Repositionable Notes are specially designed and applied “Post-It” type notes that let mailers affix a message to the outside of the envelope, calling attention to the mailer’s product or service to help the mailer get an extra edge. They are First-Class Mail and Standard Mail products.
Shipping Services. Products that are not Mailing Services and are considered competitive products. The competitive product list includes: Priority Mail, Expedited Mail, Bulk Parcel Post, and Bulk International Mail.
Special Services. A category of services that add value to mail by providing added security, proof of delivery, or loss recovery. These services include: Certified Mail, Registered Mail, Delivery Confirmation, Signature Confirmation, and insurance up to $1,000.
Standard Mail. Mailing service offered for any item, including advertisements and merchandise weighing less than 16 ounces that are not required to be sent using First-Class Mail. Standard Mail is typically used for bulk advertising to multiple delivery addresses.
Universal Service. The Postal Service’s mandate and commitment to the nation to provide mail delivery service at uniform and reasonable rates to everyone, everywhere.
U.S. Mail. Any mailable matter that is accepted for mail processing and delivery by the Postal Service.
Workshare. Tasks performed by mailers that otherwise would be done by the Postal Service, such as preparing, sorting, barcoding, and transporting mail. Reduced postage rates are offered to these customers.