US Postal Service 2005 Annual Report Download - page 53
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2005 Annual Report United States Postal Service | 43
(Dollars in millions)
September 30,
2005 2004
Liabilities and Net Capital
Current Liabilities:
Compensation and benefits $ 2,852 $ 2,640
Estimated prepaid postage 1,200 1,256
Payables and accrued expenses:
Commercial vendors and accrued expenses 1,568 1,711
Foreign countries 688 778
U.S. government 76 87
Total payables and accrued expenses 2,332 2,576
Customer deposit accounts 1,720 1,606
Outstanding postal money orders 830 767
Prepaid box rent and other deferred revenue 477 425
Debt – 1,800
Total Current Liabilities 9,411 11,070
Non-Current Liabilities:
Workers’ compensation costs 6,695 6,651
Employees’ accumulated leave 2,016 2,006
Deferred revenue 692 288
Long term portion capital lease obligations 644 652
Other 369 381
Total Non-Current Liabilities 10,416 9,978
Total Liabilities 19,827 21,048
Net Capital
Capital contributions of the U.S. government 3,034 3,034
Retained earnings since reorganization 2,342 897
Total Net Capital 5,376 3,931
Total Liabilities and Net Capital $ 25,203 $ 24,979
See accompanying notes to the financial statements.
Balance Sheets – Liabilities & Equity