| RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES | ||||||
| Single-Employer Program | Multiemployer Program | Memorandum Program | ||||
| (Dollars in millions) | 30-Sep-02 | 30-Sep-01 | 30-Sep-02 | 30-Sep-01 | 30-Sep-02 | 30-Sep-01 |
| Net income (loss) | ($11,370) | ($1,972) | $42 | ($151) | ($11,328) | ($2,123) |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Net (appreciation) decline in fair value of investments | 701 | 1,709 | -67 | -48 | 634 | 1,661 |
| Net loss of terminated plans pending trusteeship | 79 | 5 | 0 | 0 | 79 | 5 |
| Losses on completed and probable terminations | 9,313 | 705 | 0 | 0 | 9,313 | 705 |
| Actuarial charges | 2,802 | 1,082 | 0 | 1 | 2,802 | 1,083 |
| Benefit payments - trusteed plans | -1,482 | -1,027 | -1 | -1 | -1,483 | -1,028 |
| Settlements and judgments | -393 | -156 | 0 | 0 | -393 | -156 |
| Cash received from plans upon trusteeship | 662 | 592 | 0 | 0 | 662 | 592 |
| Pretermination payments | 0 | -11 | 0 | 0 | 0 | -11 |
| Receipts from sponsors/non-sponsors | 383 | 24 | 0 | 0 | 383 | 24 |
| Amortization of discounts | -15 | -2 | 0 | 0 | -15 | -2 |
| Changes in assets and liabilities, net of effects of trusteed and pending plans: | ||||||
| (Increase) decrease in receivables | 39 | -26 | 0 | 1 | 39 | -25 |
| Increase in present value of nonrecoverable future financial assistance | 96 | 265 | 96 | 265 | ||
| Increase (decrease) in unearned premiums | 2 | -15 | 0 | -1 | 2 | -16 |
| Increase in accounts payable | 13 | 3 | 0 | 0 | 13 | 3 |
| Net cash provided by operating activities | $734 | $911 | $70 | $66 | $804 | $977 |
Back to Annual Report Index | Back to WWW.PBGC.GOV | PDF version of PBGC's 2002 Annual Report