Reconciliation of Net Income to Net Cash Provided by Operating Activities

(Dollars in millions) Single-Employer Program  Multiemployer Program  Memorandum Total 
For the year ended September 30, 2001 2000 2001 2000 2001 2000
Net income (loss) -1972 2666 -151 68 -2123 2734
Adjustments to reconcile net income to net cash            
provided by operating activities:            
Net (appreciation) decline in fair value of investments 1712 -1567 -48 -20 1664 -1587
Net (income) loss of terminated plans pending trusteeship 5 -1 0 0 5 -1
Losses (credits) on completed and probable terminations 705 -80 0 0 705 -80
Actuarial charges 1082 453 1 0 1083 453
Benefit payments - trusteed plans -1027 -895 -1 -1 -1028 -896
Settlements and judgments -156 -162 0 0 -156 -162
Cash received from plans upon trusteeship 592 32 0 0 592 32
Pretermination payments -11 -25 0 0 -11 -25
Receipts from settlements 24 26 0 0 24 26
Changes in assets and liabilities, net of effects of trusteed and pending plans:            
(Increase) decrease in receivables -31 69 1 -1 -30 68
(Increase) decrease in present value of nonrecoverable future financial assistance     265 -65 265 -65
Decrease in unearned premiums -15 -2 -1 0 -16 -2
Increase (decrease) in accounts payable 3 -24 0 0 3 -24
Net cash provided (used) by operating activities 911 490 66 -19 977 471

Back to Financial Statements

Back to Annual Report Index | Back to WWW.PBGC.GOV | PDF version of PBGC's 2001 Annual Report