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2009 Annual Report - The Challenge to Deliver >
Financial History Summary
Financial History Summary (dollars in millions)
|
2009 |
2008 |
2007 |
2006 |
2005 |
Statements of Operations
|
Total revenue
|
$68,116 |
$74,968 |
$74,973 |
$72,817 |
$69,993 |
Total expense **
|
71,910 |
77,774 |
80,115 |
71,917 |
68,548 |
Net (Loss) Income
|
$(3,794) |
$(2,806) |
$(5,142) |
$900 |
$1,445 |
Operating revenue
|
$68,043 |
$74,829 |
$74,715 |
$72,551 |
$69,798 |
Revenue foregone
|
47 |
103 |
63 |
99 |
109 |
Total operating revenue
|
68,090 |
74,932 |
74,778 |
72,650 |
69,907 |
Compensation and benefits**
|
53,154 |
53,585 |
54,186 |
54,665 |
52,449 |
Retiree health benefits **
|
3,390 |
7,407 |
10,084 |
1,637 |
1,495 |
Other expenses
|
15,286 |
16,746 |
15,835 |
15,379 |
14,337 |
Total operating expenses **
|
71,830 |
77,738 |
80,105 |
71,681 |
68,281 |
Income from operations
|
(3,740) |
(2,80) |
(5,327) |
969 |
1,626 |
Interest and investment income
|
26 |
36 |
195 |
167 |
86 |
Interest expense deferred retirement
|
— |
— |
— |
(231) |
(263) |
Other interest expense
|
(80) |
(36) |
(10) |
(5) |
(4) |
Net (Loss) Income
|
$(3,794) |
$(2,806) |
$(5,142) |
$900 |
$1,445 |
Balance Sheets
|
Current assets *
|
$5,051 |
$2,354 |
$1,859 |
$2,041 |
$1,933 |
Property, equipment, and other assets
|
23,067 |
23,632 |
23,988 |
26,447 |
23,065 |
Total assets
|
$28,118 |
$25,986 |
$25,847 |
$28,488 |
$24,998 |
Current liabilities *
|
$14,121 |
$16,729 |
$13,804 |
$11,613 |
$9,160 |
Other liabilities *
|
19,410 |
10,929 |
10,909 |
10,599 |
10,462 |
(Deficit) Equity
|
(5,413) |
(1,672) |
1,134 |
6,276 |
5,376 |
Total Liabilities and Net Capital
|
$28,118 |
$25,986 |
$25,847 |
$28,488 |
$24,998 |
Changes in Net Capital
|
Capital contributions of the U.S. government
|
$3,034 |
$3,034 |
$3,034 |
$3,034 |
$3,034 |
(Deficit) Equity since 1971 reorganization
|
(4,706) |
(1,900) |
3,242 |
2,342 |
897 |
Total beginning balance
|
(1,672) |
1,134 |
6,276 |
5,376 |
3,931 |
Additional Capital Contributions
|
53 |
— |
— |
— |
— |
Net (loss) Income
|
(3,794) |
(2,806) |
(5,142) |
900 |
1,445 |
Ending Balance
|
$(5,413) |
$(1,672) |
$1,134 |
$6,276 |
$5,376 |
*Certain reclassifications have been made to previously reported amounts.
**The net impact of P.L.111-68 was $4 billion reduction of expense in 2009. The net impact of P.L. 109-435 legislation was $6.8 billion of additional expense in
2007 ($8.4 billion in additional Retiree health benefits less $1.6 billion in CSRS savings).
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