Forum post 600-words
jmawkiavik2
20150824LinksFinancials.xlsxInformation Sources
| The USPS - Case Information Sources | |
| About the USPS | |
| Main | http://about.usps.com/ |
| Financials | http://about.usps.com/who-we-are/financials/welcome.htm |
| History | http://about.usps.com/who-we-are/postal-history/welcome.htm |
| 5-Year Plan | http://about.usps.com/strategic-planning/five-year-business-plan-2012-2017.pdf |
| 2014 10K | http://about.usps.com/who-we-are/financials/10k-reports/fy2014.pdf |
| The United States Postal Service: An American History 1775-2006 | |
| http://about.usps.com/publications/pub100.pdf | |
| Smithsonian National Postal Museum | |
| Main | http://postalmuseum.si.edu/ |
| Commentary | |
| Heritage Foundation | http://www.heritage.org/research/reports/2013/10/can-the-postal-service-have-a-future |
| Heritage Foundation | http://www.heritage.org/research/reports/2011/09/youve-got-no-mail-is-the-end-near-for-the-postal-service |
| Econompic Policy Institute | http://www.epi.org/publication/heritages-ruinous-recommendations-postal/ |
| Slate | http://www.slate.com/articles/business/crosspollination/2014/03/postal_banking_usps_can_and_should_start_offering_financial_services.html |
| USPS Newsroom | http://about.usps.com/news/national-releases/2012/pr12_023.htm |
| Forbes | http://www.forbes.com/sites/adamhartung/2011/12/06/why-the-postal-service-is-going-out-of-business/ |
| Minyanville | http://www.minyanville.com/business-news/editors-pick/articles/postal-service-usps-post-office-post/8/3/2012/id/42951 |
| Financial Services (USPS Office of Inspector General) | |
| Financial Services - White Paper | https://www.uspsoig.gov/sites/default/files/document-library-files/2014/rarc-wp-14-007.pdf |
| The Road Ahead | https://www.uspsoig.gov/sites/default/files/document-library-files/2015/rarc-wp-15-011.pdf |
| PEW Conference on Financial Services and the USPS | |
| Main | http://www.pewtrusts.org/en/about/events/2014/financial-services-and-the-post-office |
| Important Concepts (Wikipedia) | |
| Market | https://en.wikipedia.org/wiki/Market_(economics) |
| Public Goods | http://en.wikipedia.org/wiki/Public_good |
| Merit Goods | http://en.wikipedia.org/wiki/Merit_good |
| Consumer Surplus | https://en.wikipedia.org/wiki/Economic_surplus |
Statement of Operations
| United States Postal Service | ||||||||
| Statements of Operations (in millions) | ||||||||
| Year Ended September 30, | ||||||||
| 2014 | 2013 | 2012 | ||||||
| Revenue | ||||||||
| Operating revenue | $ | 67,764 | $ | 67,195 | $ | 65,079 | ||
| Other revenue | 66 | 123 | 144 | |||||
| Total revenue | 67,830 | 67,318 | 65,223 | |||||
| Operating expenses | ||||||||
| Compensation and benefits | 46,000 | 46,708 | 47,689 | |||||
| Retiree health benefits | 8,685 | 8,450 | 13,729 | |||||
| Workers’ compensation | 2,554 | 1,061 | 3,729 | |||||
| Transportation | 6,586 | 6,735 | 6,630 | |||||
| Other operating expenses | 9,353 | 9,174 | 9,187 | |||||
| Total operating expenses | 73,178 | 72,128 | 80,964 | |||||
| Loss from operations | (5,348) | (4,810) | (15,741) | |||||
| Interest and investment income | 24 | 24 | 25 | |||||
| Interest expense | (184) | (191) | (190) | |||||
| Net loss | $ | (5,508) | $ | (4,977) | $ | (15,906) | ||
| Soure: 2014 10-K; See accompanying notes to the financial statements. | ||||||||
Balance Sheets
| United States Postal Service | |||||
| Balance Sheets (in millions) | |||||
| September 30, | September 30, | ||||
| 2014 | 2013 | ||||
| Assets | |||||
| Current Assets: | |||||
| Cash and cash equivalents | $ | 4,906 | $ | 2,326 | |
| Restricted cash | 246 | 312 | |||
| Receivables, net | 930 | 984 | |||
| Supplies, advances and prepayments | 122 | 122 | |||
| Total current assets | 6,204 | 3,744 | |||
| Property and equipment, net | 16,338 | 17,512 | |||
| Other assets | 420 | 385 | |||
| Total assets | $ | 22,962 | $ | 21,641 | |
| Liabilities and Net Deficiency | |||||
| Current Liabilities: | |||||
| Compensation and benefits | $ | 1,506 | $ | 1,529 | |
| Retiree health benefits | 22,417 | 16,766 | |||
| Workers’ compensation costs | 1,320 | 1,322 | |||
| Payables and accrued expenses | 2,023 | 1,913 | |||
| Deferred revenue-prepaid postage | 3,064 | 2,993 | |||
| Customer deposit accounts | 1,191 | 1,229 | |||
| Other current liabilities | 1,221 | 1,131 | |||
| Current portion of debt | 9,800 | 9,800 | |||
| Total current liabilities | 42,542 | 36,683 | |||
| Workers’ compensation costs, noncurrent | 17,102 | 15,918 | |||
| Employees’ accumulated leave, noncurrent | 1,982 | 1,982 | |||
| Other noncurrent liabilities | 1,467 | 1,681 | |||
| Noncurrent portion of debt | 5,200 | 5,200 | |||
| Total liabilities | 68,293 | 61,464 | |||
| Net Deficiency: | |||||
| Capital contributions of the U.S. Government | 3,132 | 3,132 | |||
| Deficit since 1971 reorganization | (48,463) | (42,955) | |||
| Total net deficiency | (45,331) | (39,823) | |||
| Total liabilities and net deficiency | $ | 22,962 | $ | 21,641 | |
| Source: 2014 10-K; See accompanying notes to the financial statements. | |||||
