US Postal Service 2012 Annual Report Download - page 110

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2012 Report on Form 10-K United States Postal Service- 109 -
Financial History Summary
(Dollars in millions)
Operating Results
Operating Revenue $ 65,223 $ 65,711 $ 67,052 $ 68,090 $ 74,932
Operating Expenses
Compensation and benefits 47,689 48,310 48,909 50,883 52,358
Retiree health benefits* 13,729 2,441 7,747 3,390 7,407
All other operating expenses 19,546 19,883 18,770 17,557 17,973
Total Operating Expenses * $ 80,964 $70,634 $75,426 $71,830 $77,738
Operating Loss $ (15,741) $(4,923) $(8,374) $(3,740) $(2,806)
Net Loss $ (15,906) $ (5,067) $ (8,505) $ (3,794) $ (2,806)
P.L.109-435 PSRHBF Expenses* $ 11,100 $ - $ 5,500 $ 1,400 $ 5,600
Workers' compensation expenses $ 3,729 $ 3,672 $ 3,566 $ 2,223 $ 1,227
Financial Position
Cash and cash equivalents $ 2,319 $ 1,488 $ 1,161 $ 4,089 $ 1,432
Property and equipment, net 18,863 20,337 21,595 22,680 23,193
All other assets 1,429 1,588 1,570 1,349 1,361
Total Assets $ 22,611 $ 23,413 $ 24,326 $ 28,118 $ 25,986
Accrued Contributions to PSRHBF $ 11,100 $ - $ - $ - $ -
Workers' compensation liability 17,567 15,142 12,589 10,133 7,968
Debt 15,000 13,000 12,000 10,200 7,200
All other liabilities 13,790 14,211 13,610 13,198 12,490
Total Liabilities $57,457 $42,353 $38,199 $33,531 $27,658
Net Capital
Capital contributions of the U.S. government $3,132 $3,132 $ 3,132 $ 3,087 $ 3,034
Deficit since 1971 reorganization (37,978) (22,072) (17,005) (8,500) (4,706)
Total Net Deficiency $(34,846) $(18,940) $ (13,873) $ (5,413) $ (1,672)
2012 2011 2010 2009 2008
* Due to the passage of P.L. 112-33 which changed the due date of the scheduled PSRHBF prefunding payment of $5.5 billion originally due by September
30, 2011 into 2012, PSRHBF expenses were zero in 2011. As a result, total PSRHBF expenses in 2012, including the previously scheduled prefunding
payment of $5.6 billion due by September 30, 2012, were $11.1 billion. In 2009, P.L. 111-68 changed the PSRHBF payment from $5.4 billion to $1.4 billion.