US Postal Service 2007 Annual Report Download - page 41

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2007 Annual Report United States Postal Service | 41
Balance Sheets - Liabilities and Net Capital
September 30,
2007 2006
(Dollars in millions)
Liabilities and Net Capital
Current Liabilities:
Compensation and benefits $ 3,571 $ 3,224
Payables and accrued expenses:
Trade payables and accrued expenses 1,523 1,481
Foreign countries 452 567
U.S. government 111 111
Total payables and accrued expenses 2,086 2,159
Customer deposit accounts 1,499 1,647
Deferred revenue-prepaid postage 1,142 1,187
Outstanding postal money orders 847 885
Prepaid box rent and other deferred revenue 434 411
Debt 4,200 2,100
Total Current Liabilities 13,779 11,613
Noncurrent Liabilities:
Workers’ compensation costs 6,800 6,869
Employees’ accumulated leave 2,129 2,116
Deferred appropriation and other revenue 591 674
Long-term portion capital lease obligations 618 637
Deferred gains on sales of property 341 123
Contingent liabilities and other 455 180
Total Noncurrent Liabilities 10,934 10,599
Total Liabilities 24,713 22,212
Net Capital
Capital contributions of the U.S. government 3,034 3,034
Retained (deficit) earnings since reorganization (1,900) 3,242
Total Net Capital 1,134 6,276
Total Liabilities and Net Capital $ 25,847 $ 28,488
See accompanying notes to the financial statements