US Postal Service 2010 Annual Report Download - page 4

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2 2010 Annual Report United States Postal Service
Financial Highlights
2010 was a diffi cult year for both the U.S. economy and the Postal Service. As the economy weakened, mail volumes and revenue
continued to decline. The Postal Service met the challenge with focused cost reductions and increased effi ciency.
Years ended September 30 Percent change from preceding year
The past year in review
2010 2009 2008 2010 2009 2008
(Dollars in millions, audited)
Operating revenue $67,052 $68,090 $74,932 (1.5%) (9.1%) 0.2%
Operating expenses * $75,426 $71,830 $77,738 5.0% (7.6%) (3.0%)
Loss from operations $(8,374) $(3,740) $(2,806)
Operating margin (12.5%) (5.5%) (3.7%)
Net loss $(8,505) $(3,794) $(2,806)
Purchases of capital property $1,393 $1,839 $1,995 (24.3%) (7.8%) (26.5%)
and equipment equipment
Debt $12,000 $10,200 $7,200
Interest expense $156 $80 $36
Capital contributions of $3,132 $3,087 $3,034
U.S. government
Defi cit since reorganization $(17,005) $(8,500) $(4,706)
Total net defi ciency $(13,873) $(5,413) $(1,672)
(Unaudited)
Number of career employees 583,908 623,128 663,238 (6.3%) (6.0%) (3.1%)
Mail volume (pieces in millions) 170,574 176,744 202,703 (3.5%) (12.8%) (4.5%)
New delivery points served 739,580 923,595 1,199,764
*The net impact of P.L. 111-68 legislation was $4 billion reduction of expenses
in 2009.