2012 Annual Report to FY 2012 Comprehensive FY 2012 Annual Performance Congress Statement on Postal Report and FY 2013 Operations Performance Plan the Year in Review
Progress and Performance Annual Report to Congress 2012 FY 2012 Annual Report to FY 2012 Comprehensive FY 2012 Annual Performance Congress Statement on Postal Report and FY 2013 Operations Performance Plan The Year In Review Financial Highlights 2012 was a difficult year for both the U.S. economy and the Postal Service. As the economy continued to remain weak, mail volumes and revenue continued to decline. In response, the Postal Service achieved significant cost reductions and increased efficiency, aggressively improved package delivery revenues and created opportunities by introducing new products and promotions. Years ended Sept. 30 Percent change from preceding year (dollars in millions) 2012 2011 2010 2012 2011 2010 Operating revenue $ 65,223 $ 65,711 $ 67,052 (0.7%) (2.0%) (1.5%) Operating expenses * $ 80,964 $ 70,634 $ 75,426 14.6% (6.4%) 5.0% Net interest expense $ 165 $ 144 $ 131 Net loss $ (15,906) $ (5,067) $ (8,505) Purchases of capital property and equipment $ 705 $ 1,190 $ 1,393 (40.8%) (14.6%) (24.3%) Debt $ 15,000 $ 13,000 $ 12,000 Capital contributions of U.S. government $ 3,132 $ 3,132 $ 3,132 Deficit since reorganization $ (37,978) $ (22,072) $ (17,005) Total net deficiency $ (34,846) $ (18,940) $ (13,873) Number of career employees 528,458 557,251 583,908 (5.2%) (4.6%) (6.3%) Mail volume (pieces in millions) 159,859 168,297 170,859 (5.0%) (1.5%) (3.3%) New delivery points served 654,560 636,530 739,580 * Due to the passage of P.L. 112-33 which changed the due date of the scheduled PSRHBF prefunding payment of $5.5 billion originally due by Sep.
[Show full text]