| LIABILITIES (Dollars in millions) | Single-Employer Program | Multiemployer Program | Memorandum Total | |||
|---|---|---|---|---|---|---|
| September 30, | 2003 | 2002 | 2003 | 2002 | 2003 | 2002 |
| Present value of future benefits, net (Note 4): | ||||||
| Trusteed plans | $ 38,945 | $ 21,660 | $ 3 | $ 3 | $ 38,948 | $ 21,663 |
| Terminated plans pending trusteeship | $ 463 | $ 476 | $ 0 | $ 0 | $ 463 | $ 476 |
| Settlements and judgments | $ 67 | $ 161 | $ 0 | $ 0 | $ 67 | $ 161 |
| Claims for probable terminations | $ 5,166 | $ 6,322 | $ 0 | $ 0 | $ 5,166 | $ 6,322 |
| Total present value of future benefits, net | $ 44,641 | $ 28,619 | $ 3 | $ 3 | $ 44,644 | $ 28,622 |
| Present value of nonrecoverable future financial assistance (Note 5) |
$ 1,250 | $ 775 | $ 1,250 | $ 775 | ||
| Unearned premiums (Note 9) | $ 207 | $ 193 | $ 8 | $ 8 | $ 215 | $201 |
| Due for purchases of securities | $ 127 | $ 83 | $ 0 | $ 0 | $ 127 | $ 83 |
| Accounts payable and accrued expenses (Note 6) | $ 279 | $ 173 | $ 0 | $ 0 | $ 279 | $ 173 |
| Total liabilities | $ 45,254 | $ 29,068 | $ 1,261 | $ 786 | $ 46,515 | $ 29,854 |
| Net position | $ (11,238) | $ (3,638) | $ (261) | $ 158 | $ (11,499) | $ (3,480) |
| Total liabilities and net position | $ 34,016 | $ 25,430 | $ 1,000 | $ 944 | $ 35,016 | $ 26,374 |
The accompanying notes are an integral part of these financial statements.
Commitments and contingencies
(Notes 7, 8, 14 and 15)
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