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).