US Postal Service 2004 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 of the 2004 US Postal Service annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

2004 annual report united states postal service | 43
฀฀ Year฀ended฀September฀30,
(Dollars฀in฀millions)฀2004฀2003฀ 2002
Cash฀flows฀from฀operating฀activities:
฀ Net฀income฀(loss)฀฀ $3,065฀ $3,868฀ $฀ (676)฀
฀ Adjustments฀to฀reconcile฀net฀income฀(loss)฀to฀net฀cash฀provided฀by฀operating฀activities:
฀ ฀ Depreciation฀and฀amortization฀ 2,145฀ 2,295฀ 2,296฀
฀ ฀ Loss฀on฀disposals฀of฀property฀and฀equipment,฀net฀ 71฀ 64฀ 6฀
฀ ฀ Decrease฀in฀other฀assets,฀principally฀revenue฀forgone฀appropriations฀receivable฀ 4฀ 3฀ 4฀
฀ ฀ Increase฀in฀workers’฀compensation฀liability฀฀ 343฀ 526฀ 734฀
฀ ฀ Increase฀(decrease)฀in฀employees’฀accumulated฀leave฀ 74฀ (156)฀ (36)฀
฀ ฀ Increase฀(decrease)฀in฀other฀non-current฀liabilities฀ 170฀ (31)฀ 196฀
฀ ฀ Changes฀in฀current฀assets฀and฀liabilities:
฀ ฀ ฀ Decrease฀(increase)฀in฀receivables,฀net฀ 167฀ (394)฀ (189)฀ ฀
฀ ฀ ฀ Decrease฀(increase)฀in฀supplies,฀advances฀and฀prepayments฀ 146฀ (39)฀ (7)฀
฀ ฀ ฀ Increase฀(decrease)฀in฀compensation฀and฀benefits฀ 106฀ (427)฀ (877)฀
฀ ฀ ฀ Decrease฀in฀estimated฀prepaid฀postage฀ (93)฀ (151)฀ (123)฀
฀ ฀ ฀ (Decrease)฀increase฀in฀payables฀and฀accrued฀expenses฀ (412)฀ 1,201฀ (80)฀
฀ ฀ ฀ Increase฀(decrease)฀in฀customer฀deposit฀accounts฀ 40฀ (138)฀ 145฀
฀ ฀ ฀ Decrease฀in฀outstanding฀postal฀money฀orders฀ (1)฀ (218)฀ (2)
฀ ฀ ฀ Increase฀in฀prepaid฀box฀rent฀and฀other฀deferred฀revenue฀ 10฀ 2฀ 52฀
Net฀cash฀provided฀by฀operating฀activities฀ 5,835฀ 6,405฀ 1,443฀
Cash฀flows฀from฀investing฀activities:
฀ Purchase฀of฀property฀and฀equipment฀ (1,685)฀ (1,314)฀ (1,705)฀
฀฀ Proceeds฀from฀sale฀of฀property฀and฀equipment฀ 26฀ 37฀ 30฀
Net฀cash฀used฀in฀investing฀activities฀ (1,659)฀ (1,277)฀ (1,675)฀ ฀
Cash฀flows฀from฀financing฀activities:฀
฀U.S.฀government฀appropriations฀-฀Received฀ —฀ —฀ 762
฀ U.S.฀government฀appropriations฀-฀Expended฀ (92)฀ (177)฀ (179)
฀ Issuance฀of฀debt฀ —฀ 4,609฀ 2,700฀
฀ Payments฀on฀debt฀ (5,473)฀ (8,450)฀ (2,900)฀
Net฀cash฀(used฀in)฀provided฀by฀financing฀activities฀ (5,565)฀ (4,018)฀ 383฀
Net฀(decrease)฀increase฀in฀cash฀and฀cash฀equivalents฀ (1,389)฀1,110฀151฀
Cash฀and฀cash฀equivalents฀at฀beginning฀of฀year฀2,266฀ 1,156฀ 1,005฀
Cash฀and฀cash฀equivalents฀at฀end฀of฀year฀$
฀฀฀
877฀ $2,266฀ $฀1,156฀
See฀accompanying฀notes฀to฀financial฀statements.
statements of cash flows