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2006 Annual Report United States Postal Service | 3
3 2006 Financial Highlights
5 Year in Review
6 A letter from the Postmaster General/CEO
and Chairman of the Board of Governors
9 Power of the Mail
10 Quality and Affordable Service
12 Board of Governors
13 The Executive Committee
14 A Message from the Audit and
Finance Committee
17 A Message from the Chief Financial Officer and
Executive Vice President
19 Financial Section Part I
25 Financial Section Part II
39 Financial Section Part III
42 Report of Independent Auditors
43 Financial Statements
56 Operating Statistics
60 Financial History Summary
61 Selected Quarterly Financial Data
61 Glossary
63 2007 Stamps
Financial Highlights
Years Ended September 30,
Percent Change From Preceeding
Year
2006 2005 2004 2006 2005 2004
(Dollars in millions, audited)
Operating revenues $ 72,650 $ 69,907 $ 68,996 3.9% 1.3% 0.7%
Operating expenses $ 71,684 $ 68,283 $ 65,851 5.0% 3.7% 3.0%
Income from Operations $ 966 $ 1,624 $ 3,145
Operating margin 1.3% 2.3% 4.6%
Net income $ 900 $ 1,445 $ 3,065
Cash outlays for purchase of
capital property and equipment $ 2,587 $ 2,317 $ 1,685 11.7% 37.5% 28.2%
Debt $ 2,100 $ – $ 1,800
Interest expense *$ 2 $ 2 $ 10
Capital contributions of U.S. government $ 3,034 $ 3,034 $ 3,034
Retained earnings since reorganization $ 3,242 $ 2,342 $ 897
Total Net Capital $ 6,276 $ 5,376 $ 3,931
(Unaudited)
Number of career employees 696,138 704,716 707,485 (1.2%) (0.4%) (3.0%)
Mail volume (pieces in millions) 213,138 211,743 206,106 0.7% 2.7% 1.9%
New delivery points served 1,847,831 2,006,577 1,782,900
* Excluding interest expense on deferred retirement obligations.
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