FINANCIAL SUMMARY - Single-Employer Program
(Dollars in millions) for Fiscal Year Ended September 30,
 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Summary of Operations:
Premium income
  $          787 821 807 902 966 1,067 1,146 838 955 890
Other income
 $            28 23 5 3 10 19 26 18 42 38
Investment income (loss)
  $          170 -843 2,392 728 2,118 2,687 915 1,956 -380 1,538
Actuarial charges (credits)
 $       2,802 1,082 453 -602 815 488 632 1,561 -926 1,680
Losses (credits) from completed and probable terminations
  $       9,313 705 -80 49 584 489 118 169 -249 743
Loss on contingent value rights
  $            -   0 0 0 0 0 0 0 0 96
Administrative and investment expenses
  $          225 184 167 161 158 155 150 138 135 107
Other expenses
  $            15 2 -2 -1 6 29 3 19 0 0
Net income (loss)
  $     (11,370) -1,972 2,666 2,026 1,531 2,612 1,184 925 1,657 -160
Summary of Financial Position:
Cash and investments
 $      24,851 21,010 20,409 17,965 17,345 14,988 11,665 10,026 7,857 7,866
Total assets
 $      25,430 21,768 20,830 18,431 17,631 15,314 12,043 10,371 8,281 8,267
Present value of future benefits
 $      28,619 13,497 10,631 11,073 12,281 11,497 10,760 10,388 9,215 10,693
Net position
  $      (3,638) 7,732 9,704 7,038 5,012 3,481 869 -315 -1,240 -2,897
Insurance Activity:
Benefits paid
  $       1,537 1,043 902 901 847 823 790 761 719 720
Participants receiving monthly benefits at end of year
 344,310 268,090 226,080 214,160 208,450 204,800 198,600 181,000 172,800 156,800
Plans trusteed and pending trusteeship by PBGC
 3,122 2,965 2,864 2,775 2,655 2,500 2,338 2,084 1,961 1,848

 

 

FINANCIAL SUMMARY - Multiemployer Program
(Dollars in millions) for Fiscal Year Ended September 30,
 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Summary of Operations:
Premium income
 25 24 24 23 23 23 22 22 23 23
Other income (loss)
 0 0 0 0 0 0 1 0 0 -1
Investment income (loss)
 118 95 70 -56 133 68 12 83 -46 107
Actuarial charges (credits)
 0 1 0 0 0 -1 1 2 -1 2
Losses (gains) from financial assistance
 101 269 26 109 34 -3 102 108 57 20
Administrative and investment expenses
 0 0 0 0 0 0 0 0 0 0
Net income (loss)
 42 -151 68 -142 122 95 -68 -5 -79 107
Summary of Financial Position:
Cash and investments
933 796 682 681 736 585 498 472 374 405
Total assets
 944 807 694 692 745 596 505 477 378 407
Present value of future benefits
 3 4 4 5 6 7 9 10 10 13
Nonrecoverable future financial assistance, present value
 775 679 414 479 389 361 365 268 164 110
Net position
 158 116 267 199 341 219 124 192 197 276
Insurance Activity:
Benefits paid
 1 1 1 1 1 1 2 2 2 2
Participants receiving monthly benefits from PBGC at end of year
 460 510 620 730 850 1000 1100 1300 1400 1590
Plans receiving financial assistance from PBGC
 23 22 21 21 18 14 12 9 8 6

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