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2015 Report on Form 10-K United States Postal Service 40
United States Postal Service
Statements of Cash Flows
Years Ended September 30,
(in millions) 2015 2014 2013
Cash flows from operating activities:
Net loss $ (5,060) $ (5,508) $ (4,977)
Adjustments to reconcile net loss to cash provided by operations:
Depreciation and amortization 1,769 1,843 1,901
(Gain) loss on disposals of property and equipment, net (59) 43 (53)
Decrease (increase) in other assets 7 (35) —
Increase (decrease) in noncurrent workers’ compensation 308 1,184 (312)
(Decrease) increase in noncurrent deferred appropriations and other revenue (8)(5) 13
(Decrease) increase in other noncurrent liabilities (215)(53) 141
Changes in current assets and liabilities:
Receivables, net — 54 (66)
Other assets 4 — 4
Retiree health benefits 5,683 5,651 5,561
Payables, accrued expenses and other 306 1 (252)
Deferred revenue-prepaid postage, prepaid box rents and other 144 139 (1,026)
Net cash provided by operating activities 2,879 3,314 934
Cash flows from investing activities:
Change in restricted cash 13 66 (79)
Purchases of property and equipment (1,222)(781)(667)
Proceeds from sales of property and equipment 120 129 158
Net cash used in investing activities (1,089)(586)(588)
Cash flows from financing activities:
Issuance of notes payable 5,800 5,800 5,500
Payments on notes payable (5,800)(5,800)(5,500)
Changes in capital lease obligations and other (62)(148)(107)
Net cash used in financing activities (62)(148)(107)
Net increase in cash and cash equivalents 1,728 2,580 239
Cash and cash equivalents at beginning of year 4,906 2,326 2,087
Cash and cash equivalents at end of period $ 6,634 $ 4,906 $ 2,326
Supplemental cash flow disclosures:
Cash paid for interest $ 179 $ 184 $ 190
See accompanying notes to the financial statements.