| Multiemployer Program | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal Year Ended September 30, | |||||||||||
| (Dollars in millions) | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | |
| Summary of Operations: | |||||||||||
| Premium Income | $90 | 81 | 58 | 26 | 27 | 25 | 25 | 24 | 24 | 23 | |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investment income (loss) | 121 | 23 | (1) | 79 | 54 | 37 | 118 | 95 | 70 | (56) | |
| Actuarial charges and adjustments (credits) | (1) | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | |
| Losses (gains) from financial assistance | (271) | 319 | 461 | 204 | 55 | 480 | 101 | 269 | 26 | 109 | |
| Administrative and investment expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net income (loss) | 482 | (216) | (404) | (99) | 25 | (419) | 42 | (151) | 68 | (142) | |
| Summary of Financial Position: | |||||||||||
| Cash and investments | 1,318 | 1,196 | 1,164 | 1,147 | 1,057 | 984 | 933 | 796 | 682 | 681 | |
| Total assets | 1,327 | 1,197 | 1,166 | 1,160 | 1,070 | 1,000 | 944 | 807 | 694 | 692 | |
| Present value of future benefits | 1 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 5 | |
| Nonrecoverable future financial assistance, present value | 1,768 | 2,124 | 1,876 | 1,485 | 1,295 | 1,250 | 775 | 679 | 414 | 479 | |
| Net position | (473) | (955) | (739) | (335) | (236) | (261) | 158 | 116 | 267 | 199 | |
| Insurance Activity: | |||||||||||
| Benefits paid | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
| Participants receiving monthly benefits from PBGC at end of year | 170 | 200 | 240 | 280 | 320 | 390 | 460 | 510 | 620 | 730 | |
| Plans receiving financial assistance from PBGC | 42 | 36 | 33 | 29 | 27 | 24 | 23 | 22 | 21 | 21 | |