Financial Summary - Single-Employer Program

	Fiscal Year Ended September 30,
(Dollars in millions)	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Summary of Operations:
Premium income	$ 1,458	$ 948	$ 787	$ 821	$ 807	$ 902	$ 966	$ 1,067	$ 1,146	$ 838
Other income	$ 24	$ 28	$ 28	$ 23	$ 5	$ 3	$ 10	$ 19	$ 26	$ 18
Investment income (loss)	$ 3,197	$ 3,349	$ 170	$ (843)	$ 2,392	$ 728	$ 2,118	$ 2,687	$ 915	$ 1,956
Actuarial charges (credits)	$ 1,787	$ 6,161	$ 2,802	$ 1,082	$ 453	$ (602)	$ 815	$ 488	$ 632	$ 1,561
Losses (credits) from completed and probable terminations	$ 14,707	$ 5,377	$ 9,313	$ 705	$ (80)	$ 49	$ 584	$ 489	$ 118	$ 169
Administrative and investment expenses	$ 288	$ 290	$ 225	$ 184	$ 167	$ 161	$ 158	$ 155	$ 150	$ 138
Other expenses	$ (36)	$ 97	$ 15	$ 2	$ (2)	$ (1)	$ 6	$ 29	$ 3	$ 19
Net income (loss)	$ (1,972)	$ 2,666	$ 2,026	$ 1,531	$ 2,612	$ 1,184	$ 925
Summary of Financial Position:
Cash and investments	$ 36,254	$ 33,215	$ 24,851	$ 21,010	$ 20,409	$ 17,965	$ 17,345	$ 14,988	$ 11,665	$ 10,026
Total assets	$ 38,993	$ 34,016	$ 25,430	$ 21,768	$ 20,830	$ 18,431	$ 17,631	$ 15,314	$ 12,043	$ 10,371
Present value of future benefits	$ 60,836	$ 44,641	$ 28,619	$ 13,497	$ 10,631	$ 11,073	$ 12,281	$ 11,497	$ 10,760	$ 10,388
Net position	$ (23,305)	$ (11,238)	$ (3,638)	$ 7,732	$ 9,704	$ 7,038	$ 5,012	$ 3,481	$ 869	$ (315)
Insurance Activity:
Benefits paid	$ 3,006	$ 2,488	$ 1,537	$ 1,043	$ 902	$ 901	$ 847	$ 823	$ 790	$ 761
Participants receiving monthly benefits at end of year	517,900	458,800	344,310	268,090	226,080	214,160	208,450	204,800	198,600	181,000
Plans trusteed and pending trusteeship by PBGC	3,469	3,277	3,122	2,965	2,864	2,775	2,655	2,500	2,338	2,084

Financial Summary - Multiemployer Program

	Fiscal Year Ended September 30,
(Dollars in millions)	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Summary of Operations:
Premium income	$ 27	$ 25	$ 25	$ 24	$ 24	$ 23	$ 23	$ 23	$ 22	$ 22
Other income	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 1	$ 0
Investment income (loss)	$ 54	$ 37	$ 118	$ 95	$ 70	$ (56)	$ 133	$ 68	$ 12	$ 83
Actuarial charges (credits)	$ 1	$ 1	$ 0	$ 1	$ 0	$ 0	$ 0	$ (1)	$ 1	$ 2
Losses (gains) from financial assistance	$ 55	$ 480	$ 101	$ 269	$ 26	$ 109	$ 34	$ (3)	$ 102	$ 108
Administrative and investment expenses	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Net income (loss)	$ 25	$ (419)	$ 42	$ (151)	$ 68	$ (142)	$ 122	$ 95	$ (68)	$ (5)
Summary of Financial Position:
Cash and investments	$ 1,057	$ 984	$ 933	$ 796	$ 682	$ 681	$ 736	$ 585	$ 498	$ 472
Total assets	$ 1,070	$ 1,000	$ 944	$ 807	$ 694	$ 692	$ 745	$ 596	$ 505	$ 477
Present value of future benefits	$ 3	$ 3	$ 3	$ 4	$ 4	$ 5	$ 6	$ 7	$ 9	$ 10
Nonrecoverable future financial assistance, present value	$ 1,295	$ 1,250	$ 775	$ 679	$ 414	$ 479	$ 389	$ 361	$ 365	$ 268
Net position	$ (236)	$ (261)	$ 158	$ 116	$ 267	$ 199	$ 341	$ 219	$ 124	$ 192
Insurance Activity:
Benefits paid	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 1	$ 2	$ 2
Participants receiving monthly benefits from PBGC at end of year	320	390	460	510	620	730	850	1,000	1,100	1,300
Plans receiving financial assistance from PBGC	27	24	23	22	21	21	18	14	12	9