US Postal Service 2013 Annual Report Download - page 110

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2013 Report on Form 10-K United States Postal Service 108
Financial History Summary
2013
(Dollars in millions)
Operating Results
Operating Revenue $ 67,318 $ 65,223 $ 65,711 $67,052 $68,090
Operating Expenses
Compensation and benefits 46,708 47,689 48,310 48,909 50,883
Retiree health benefits* 8,450 13,729 2,441 7,747 3,390
All other operating expenses 16,970 19,546 19,883 18,770 17,557
Total Operating Expenses * $ 72,128 80,964 $70,634 $75,426 $71,830
Operating Loss $ (4,810) $ (15,741) $(4,923) $(8,374) $(3,740)
Net Loss $ (4,977) $ (15,906) $(5,067) $ (8,505) $ (3,794)
P.L.109-435 PSRHBF Expenses* $ 5,600 $ 11,100 $ - $ 5,500 $ 1,400
Workers' compensation expenses $ 1,061 $ 3,729 $ 3,672 $ 3,566 $ 2,223
Financial Position
Cash and cash equivalents $ 2,326 $2,086 $1,283 $1,161 $ 4,089
Property and equipment, net 17,512 18,863 20,337 21,595 22,680
All other assets 1,491 1,662 1,793 1,570 1,349
Total Assets $ 21,329 $ 22,611 $23,413 $ 24,326 $ 28,118
Accrued Contributions to PSRHBF $ 16,700 $ 11,100 $ - $ - $ -
Workers' compensation liability 17,240 17,567 15,142 12,589 10,133
Debt 15,000 15,000 13,000 12,000 10,200
All other liabilities 12,524 $ 13,790 14,211 13,610 13,198
Total Liabilities $ 61,464 $ 57,457 $42,353 $38,199 $33,531
Net Capital
Capital contributions of the U.S. government $ 3,132 $ 3,132 $3,132 $ 3,132 $ 3,087
Deficit since 1971 reorganization (42,955) (37,978) (22,072) (17,005) (8,500)
Total Net Deficiency $(39,823) $(34,846) $(18,940) $ (13,873) $ (5,413)
2012 2011 2010 2009
* Due to the passage of P.L. 112-33 w hich changed the due date of the scheduled PSRHBF prefunding payment of $5.5 billion originally due by
September 30, 2011 into 2012, PSRHBF expenses w ere 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, w ere $11.1 billion. In 2009, P.L. 111-68 changed the PSRHBF
payment from $5.4 billion to $1.4 billion.