US Postal Service 2004 Annual Report Download - page 59

2004 annual report united states postal service | 57
฀ 2001*฀ 2000*฀ 1999*฀ 1998*฀ 1997*฀ 1996*฀ 1995*฀ 1994*
฀ $ 00 ,65.9฀ $ 00, 64.6฀ $ ฀฀฀฀ 62.7฀ $ ฀ ฀฀฀฀฀ 60.1฀ $ ฀฀ ฀฀ 58.3฀ $฀ ฀฀56.6฀ $ ฀฀฀ 54.5฀ $ ฀ ฀฀฀ 49.6฀
฀ 67.6฀ 64.8฀ 62.4฀ 59.5฀ 57.0฀ 55.0฀ 52.7฀ 50.5฀
฀ $ ฀฀฀ ฀ (1.7)฀ $ ฀฀฀฀฀฀ (0.2)฀ $ ฀฀฀฀฀฀฀ 0.4฀ $ ฀฀฀฀฀฀฀ 0.6฀ $ ฀฀฀฀฀฀฀ 1.3฀ $ ฀ ฀฀฀฀ 1.6฀ $฀฀฀฀ ฀1.8฀ $ ฀฀฀฀฀฀ (0.9)฀
฀ $65,767฀ $64,476฀ $62,655฀ $60,005฀ $58,133฀ $56,309฀ $54,176฀ $49,252฀
฀ 67฀ 64฀ 71฀ 67฀ 83฀ 93฀ 117฀ 131฀
฀ 65,834฀ 64,540฀ 62,726฀ 60,072฀ 58,216฀ 56,402฀ 54,293฀ 49,383฀
฀ 51,351฀ 49,532฀ 47,333฀ 45,596฀ 44,093฀ 42,676฀ 41,931฀ 39,609฀
฀ 14,289฀ 13,460฀ 13,309฀ 12,190฀ 11,038฀ 10,437฀ 8,799฀ 8,846฀
฀ 65,640฀ 62,992฀ 60,642฀ 57,786฀ 55,131฀ 53,113฀ 50,730฀ 48,455฀
฀ 194฀ 1,548฀ 2,084฀ 2,286฀ 3,085฀ 3,289฀ 3,563฀ 928฀
฀ 35฀ 41฀ 29฀ 44฀ 115฀ 142฀ 216฀ 193฀
฀ (1,603)฀ (1,568)฀ (1,592)฀ (1,613)฀ (1,629)฀ (1,496)฀ (1,443)฀ (1,433)฀
฀ (306)฀ (220)฀ (158)฀ (167)฀ (307)฀ (368)฀ (566)฀ (601)฀
฀ —฀ —฀฀ ฀—฀฀ ฀—฀฀ ฀—฀฀ ฀—฀฀ ฀—฀฀ ฀—฀฀฀
฀ $ ฀ (1,680)฀ $ ฀฀฀฀ (199)฀ $ ฀฀฀฀฀ 363฀ $ ฀฀฀฀฀ 550฀ $ ฀฀ 1,264฀ $ ฀฀ 1,567฀ $ ฀฀ 1,770฀ $ ฀฀฀฀ (913)฀
฀
฀
฀ $
฀฀ 1,933฀ $ ฀ 1,655฀ $฀ 1,296฀ $฀ 1,893฀ $ ฀ 1,736฀ $ ฀ 1,670฀ $ ฀ 2,975฀ $ ฀ 2,683฀
฀ 57,158฀ 56,628฀ 54,713฀ 53,015฀ 51,675฀ 50,157฀ 46,146฀ 43,733฀
฀ $59,091฀ $58,283฀ $56,009฀ $54,908฀ $53,411฀ $51,827฀ $49,121฀ $46,416฀
฀ $17,457฀ $18,277฀ $15,436฀ $15,278฀ $14,107฀ $12,796฀ $11,499฀ $11,665฀
฀ 38,209฀ 38,150฀ 37,466฀ 37,652฀ 37,439฀ 37,746฀ 34,794฀ 32,985฀
฀ 5,751฀ 2,502฀ 3,554฀ 2,788฀ 3,225฀ 3,909฀ 7,019฀ 7,727฀
฀ (2,326)฀ (646)฀ (447)฀ (810)฀ (1,360)฀ (2,624)฀ (4,191)฀ (5,961)฀
฀ $59,091฀ $58,283฀ $56,009฀ $54,908฀ $53,411฀ $51,827฀ $49,121฀ $46,416฀
฀ $ ฀ 3,034฀ $ ฀ 3,034฀ $ ฀ 3,034฀ $฀ 3,034฀ $ ฀ 3,034฀ $ ฀ 3,034฀ $ ฀ 3,034฀ $ ฀ 3,034฀
฀ (3,680)฀ (3,481)฀ (3,844)฀ (4,394)฀ (5,658)฀ (7,225)฀ (8,995)฀ (8,082)฀
฀ (646)฀ (447)฀ (810)฀ (1,360)฀ (2,624)฀ (4,191)฀ (5,961)฀ (5,048)฀
฀ (1,680)฀ (199)฀ 363฀ 550฀ 1,264฀ 1,567฀ 1,770฀ (913)฀
฀฀฀(2,326)฀ $ ฀฀฀฀ (646)฀ $ ฀฀฀฀฀ (447)฀ $฀฀฀฀฀(810)฀ $฀(1,360)฀ $฀(2,624)฀ $฀฀(4,191)฀ $ ฀ (5,961)฀
*฀ Certain฀reclassifications฀have฀been฀made฀to฀previously฀reported฀amounts.
financial history summary
฀฀ 2004฀ 2003*฀ 2002*
Statements฀of฀Operations
(Dollars฀in฀billions)
Total฀revenue฀ $ ฀฀฀ 69.0฀ $ ฀฀฀ 68.8฀ $ ฀฀฀฀฀ 66.7฀
Total฀expense฀ 65.9฀ 64.9฀ 67.4฀
Net฀income฀(loss)฀ $ ฀฀฀฀฀ 3.1฀ $ ฀฀฀฀฀ 3.9฀ $ ฀฀฀฀฀฀ (0.7)฀
(Dollars฀in฀millions)
Operating฀revenue฀ $68,960฀ $68,498฀ $66,415฀
Revenue฀forgone฀appropriation฀ 36฀ 31฀ 48฀
Total฀operating฀revenue฀ 68,996฀ 68,529฀ 66,463฀
Compensation฀and฀benefits฀ 52,134฀ 50,428฀ 51,557฀
Other฀expenses฀ 13,717฀ 13,474฀ 13,677
Total฀operating฀expenses฀ 65,851฀ 63,902฀ 65,234
Income฀from฀operations฀ 3,145฀ 4,627฀ 1,229
Interest฀and฀investment฀income฀ 33฀ 58฀ 46฀
Interest฀expense฀on฀deferred฀retirement฀obligations฀ (103)฀ (116)฀ (1,601)
Other฀interest฀expense฀ (10)฀ (694)**฀ (340)฀
Emergency฀preparedness,฀net฀ —฀ (7)฀ (10)฀ ฀฀
฀฀฀Net฀income฀(loss)฀฀ $ ฀฀ 3,065฀ $ ฀฀ 3,868฀ $ ฀฀฀฀ (676)฀ ฀
฀
Balance฀Sheets
Assets
Current฀assets฀ $ ฀฀ 2,121฀ $ ฀฀ 3,823฀ $ ฀฀ 2,280฀
Property฀and฀equipment,฀deferred฀retirement฀costs฀and฀other฀assets฀ 22,858฀ 23,419฀ 56,735฀
Total฀assets฀ $24,979฀ $27,242฀ $59,015฀
Liabilities฀and฀net฀capital฀(deficiency)
Current฀liabilities฀ $11,070฀ $16,969฀ $15,586฀
Other฀liabilities฀ 9,978฀ 9,407฀ 39,131฀
Long-term฀debt฀ —฀ —฀ 7,300฀
Net฀capital฀(deficiency)฀ 3,931฀ 866฀ (3,002)
Total฀liabilities฀and฀net฀capital฀(deficiency)฀ $24,979฀ $27,242฀ $59,015฀
฀
Changes฀in฀Net฀Capital฀(Deficiency)
Beginning฀balances
Capital฀contributions฀of฀the฀U.S.฀government฀ $ ฀ 3,034฀ $ ฀฀ 3,034฀ $ ฀฀ 3,034฀
Deficit฀since฀reorganization฀ (2,168)฀ (6,036)฀ (5,360)
Total฀beginning฀balance฀net฀capital฀(deficiency)฀ 866฀ (3,002)฀ (2,326)฀
Net฀income฀(loss)฀ 3,065฀ 3,868฀ (676)฀
Ending฀balance฀ ฀$ ฀ 3,931฀ $ ฀฀฀฀฀ 866฀ $฀(3,002)
*฀ Certain฀reclassifications฀have฀been฀made฀to฀previously฀reported฀amounts.฀
**฀ Includes฀$360฀million฀in฀debt฀repurchase฀expense.
$