| PENSION BENEFIT GUARANTY CORPORATION
STATEMENTS OF FINANCIAL CONDITION |
||||||
| Single-Employer Program | Multiemployer Program | Memorandum Total | ||||
|---|---|---|---|---|---|---|
(Dollars in millions) |
30-Sep-02 | 30-Sep-01 | 30-Sep-02 | 30-Sep-01 | 30-Sep-02 | 30-Sep-01 |
ASSETS |
||||||
Cash and cash equivalents |
$716 | $776 | $3 | $17 | $719 | $793 |
Investments, at market
(Note 3): |
||||||
Fixed maturity securities |
16,742 | 13,829 | 929 | 777 | 17,671 | 14,606 |
Equity securities |
7,349 | 6,245 | 1 | 2 | 7,350 | 6,247 |
Real estate and
real estate investment trusts |
38 | 40 | 0 | 0 | 38 | 40 |
Other |
6 | 120 | 0 | 0 | 6 | 120 |
Total investments |
24,135 | 20,234 | 930 | 779 | 25,065 | 21,013 |
Receivables, net: |
||||||
Sponsors of terminated
plans |
209 | 367 | 0 | 0 | 209 | 367 |
Premiums (Note 9) |
121 | 153 | 0 | 1 | 121 | 154 |
Sale of securities |
45 | 50 | 0 | 0 | 45 | 50 |
Investment income |
197 | 182 | 11 | 10 | 208 | 192 |
Other |
3 | 3 | 0 | 0 | 3 | 3 |
Total receivables |
575 | 755 | 11 | 11 | 586 | 766 |
Furniture and fixtures,
net |
4 | 3 | 0 | 0 | 4 | 3 |
Total assets |
$25,430 | $21,768 | $944 | $807 | $26,374 | $22,575 |
LIABILITIES |
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Present value of future
benefits, net (Note 4): |
||||||
Trusteed plans |
$21,660 | $12,694 | $3 | $4 | $21,663 | $12,698 |
Terminated plans
pending trusteeship |
476 | 215 | 0 | 0 | 476 | 215 |
Settlements and
judgments |
161 | 177 | 0 | 0 | 161 | 177 |
Claims for probable
terminations |
6,322 | 411 | 0 | 0 | 6,322 | 411 |
Total present value
of future benefits, net |
28,619 | 13,497 | 3 | 4 | 28,622 | 13,501 |
Present value of nonrecoverable
future financial assistance (Note 5) |
775 | 679 | 775 | 679 | ||
Unearned premiums (Note
9) |
193 | 191 | 8 | 8 | 201 | 199 |
Due for purchases of
securities |
83 | 195 | 0 | 0 | 83 | 195 |
Accounts payable and
accrued expenses (Note 6) |
173 | 153 | 0 | 0 | 173 | 153 |
Commitments and contingencies
(Notes 7, 8, 14 and 15) |
||||||
Total liabilities |
29,068 | 14,036 | 786 | 691 | 29,854 | 14,727 |
Net position |
-3,638 | 7,732 | 158 | 116 | -3,480 | 7,848 |
Total liabilities and
net position |
$25,430 | $21,768 | $944 | $807 | $26,374 | $22,575 |
| The accompanying notes are an integral part of these financial statements. | ||||||
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