| LIABILITIES (Dollars in millions) | Single-Employer Program | Multiemployer Program | Memorandum Total | |||
|---|---|---|---|---|---|---|
September 30, 2004 |
September 30, 2003 |
September 30, 2004 |
September 30, 2003 |
September 30, 2004 |
September 30, 2003 |
|
| Present value of future benefits, net (Note 4): | ||||||
| Trusteed plans | $ 57,291 |
$ 43,344 |
$ 3 | $ 3 | $ 43,347 | $ 38,907 |
| Terminated plans pending trusteeship | 1,918 |
501 |
$ 0 | $ 0 | $ 501 | $ 463 |
| Settlements and judgments | 58 |
65 |
$ 0 | $ 0 | $ 65 | $ 67 |
| Claims for probable terminations | 10,470 |
16,926 |
$ 0 | $ 0 | $ 16,926 | $ 5,207 |
| Total present value of future benefits, net | 69,737 |
60,836 |
$ 3 | $ 3 | $ 60,839 | $ 44,644 |
| Present value of nonrecoverable future financial assistance (Note 5) | 6,939 |
637 |
1,485 |
1,295 |
1,485 |
1,295 |
| Unearned premiums (Note 9) | 210 |
223 |
8 |
8 |
218 |
231 |
| Due for purchases of securities | 2,290 |
531 |
0 |
0 |
2,290 |
531 |
| Accounts payable and accrued expenses (Note 6) | 70 |
71 |
0 |
0 |
70 |
71 |
| Total liabilities | 79,246 |
62,298 |
1,495 |
1,306 |
80,741 |
63,604 |
| Net position | (22,776) |
(23,305) |
(335) |
(236) |
(23,111) |
(23,541) |
| Total liabilities and net position | $ 56,470 |
$ 38,993 |
$1,160 |
$1,070 |
$ 57,630 |
$ 40,063 |
The accompanying notes are an integral part of these financial statements.
Commitments and contingencies
(Notes 7, 8, 14 and 15)
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