US Postal Service 2009 Annual Report Download

Download and view the complete annual report

Please find the complete 2009 US Postal Service annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

C r e a t in g th e 2 1
s t
C e n t u r y
P o s ta l S e r vic e
2009 ANNUAL REPORT

Table of contents

  • Page 1
    C r e a t in g t h e 2 1s t C e n t u r y P o s t a l S e r v ic e 2 0 0 9 ANNUAL REPORT

  • Page 2
    ... Mail 2 Financial Highlights 3 The Delivery Challenge: Less Mail, More Addresses 4 The Challenge to Deliver: Letter from the Postmaster General and CEO and the Chairman of the Board of Governors 6 Meeting the Challenge: Innovative Products and Pricing Incentives 8 The Challenge of a Changing Economy...

  • Page 3
    ..., universal service to all Americans. O f this we are certain - in any economy. Global Bargain 2009 First-Class Mail Letter Equivalent Prices in U.S. Dollars .78 France .83 Japan 1.25 Norway . 77 Germany .64 Great Britain .47 Canada .44 United States 2009 Annual Report United States Postal...

  • Page 4
    ... year for both the U.S. economy and the Postal Service. As the economy weakened, mail volumes and revenue continued to decline. The Postal Service met the challenge with focused cost reductions and increased efficiency. Years Ended September 30 Percent Change From Preceding Year 2009 (dollars...

  • Page 5
    ...149.2 148 146.2 144.3 142.3 delivery points in millions 141.4 139.5 137.7 135.9 USPS employees 787,538 623,128 663,238 684,762 696,138 704,716 707,485 729,035 752,949 775,903 2000 2001 2002 2003 2009 Annual Report United States Postal Service | 3 2004 2005 2006 2007 2008...

  • Page 6
    ... Act of 2006 (" PAEA" ) to stimulate mail volume. Three such initiatives - the Standard M ail " Summer Sale," the Saturation M ail Incentive, and most recently, the First-Class M ail Incentive Program - all offer price incentives on incremental T 4 | 2009 Annual Report United States Postal Service

  • Page 7
    ... customers continue to view the mail as an attractive value proposition. Additionally, the Postal Service was supportive of and is grateful to President O bama and the United States Congress for the recent enactment of legislation (P.L. 111-68), which reduced the Postal Service's retiree health care...

  • Page 8
    ... of ï¬,at-rate shipping. Customers can also save on their shipping by taking advantage of online price breaks for Priority Mail and Express Mail. And for high-volume shippers, we offer Commercial Plus pricing. During a time when affordability is on everyone's minds, the Postal Service delivers value...

  • Page 9
    ... economic times? software calculates the size of the ï¬,at-rate box required to ship it and - voila! - a virtual package appears on the computer screen. We reminded customers about simplified shipping solutions through our Priority Mail ad campaign. 2009 Annual Report United States Postal Service...

  • Page 10
    ... to your local Post Office, you can buy stamps at more than 36,000 supermarkets, drug stores and other retailers, and 20,000 ATMs. 8 | 2009 Annual Report United States Postal Service h rough it all, we delivered on our commitment to service and affordability. As the recession and cost obligations...

  • Page 11
    ... postal facilities. â- Adjusting Post Office hours to better reï¬,ect customer use. â- Consolidating mail processing operations. â- Halting construction of new postal facilities. â- Freezing salaries of all Postal Service officers and executives. 2009 Annual Report United States Postal...

  • Page 12
    ...ficult economic climate. The Postal Service has responded aggressively to declines in mail volume by making changes to operations, staffing and facilities. Through it all, our employees have delivered high levels of service and customer satisfaction, and Americans trust us to protect their privacy...

  • Page 13
    ... universal service for America now and long into the future. Postmaster Sherry Johnson works with the Army National Guard to protect the Valley City, ND, Post Office from ï¬,oodwater. The men and women of the Postal Service deliver on its mission in many ways, including: â- Providing high levels...

  • Page 14
    ... System. CH ALLEN GE O F EM ERGIN G TECH N O LO GIES TH E h e Postal Service has a long history of using leading-edge technologies to process and deliver mail and better serve - and connect - our customers. We built our business on technological innovation and adaptation. As the nation has changed...

  • Page 15
    ...Offering Express Mail Hold For â- Introducing Pickup online, which enables customers to request a package be shipped directly to a Post Office for pickup by the recipient. â- Updating the business mailer web- an online Learning Management System to manage and deliver training for employees and...

  • Page 16
    ... 3 0 0 Number of vehicles nationwide powered by biodiesel fuel 3 0 ,0 0 0 Total dollars being saved in energy costs with installation of the first green roof in New York City 17 Percent saved in building-related energy consumption since 2003 14 | 2009 Annual Report United States Postal Service

  • Page 17
    ... electric delivery vehicles 4 1 Percent of increase in alternative fuel use since 2006 4 0 Number of White House Closing the Circle awards for environmental stewardship since 1996 3 0 Number of electric 2-ton delivery vans in New York City 2009 Annual Report United States Postal Service | 15

  • Page 18
    ..., appoint the Deputy Postmaster General. From left to right: Thurgood Marshall, Jr., James H. Bilbray, Vice Chairman Louis J. Giuliano, Ellen C. Williams, Chairman Carolyn Lewis Gallagher, James C. Miller III, Mickey D. Barnett, Alan C. Kessler. 16 | 2009 Annual Report United States Postal Service

  • Page 19
    ... Donahoe Appointed 19th Deputy Postmaster General in April 2005. Donahoe is Chief O perating O fficer and has served as Senior Vice President, O perations; Senior Vice President, H uman Resources; and Vice President, Allegheny Area O perations. 2009 Annual Report United States Postal Service | 17

  • Page 20
    ... Therese Dominguez Vice President, Government Relations and Public Policy John T. Edgar Vice President, Information Technology Solutions Jo Ann Feindt Vice President, Area Operations (Great Lakes) Steven J. Forte Senior Vice President, Operations 18 | 2009 Annual Report United States Postal Service

  • Page 21
    ... and Managing Director, Global Business Jordan M. Small Vice President, Network Operations Douglas A. Tulino Vice President, Labor Relations David E. Williams Vice President, Engineering Terry J. Wilson Vice President, Area Operations (Southeast) 2009 Annual Report United States Postal Service | 19

  • Page 22
    ...-O xley Act of 2002 (SO X), â- Reviewing efforts to increase the efficiency and effectiveness of internal controls, and â- Successful filing of financial reports in compliance with Securities and Exchange Commission (SEC) reporting rules. T 20 | 2009 Annual Report United States Postal Service

  • Page 23
    ... to receive regular updates on cyber security issues. As information technology security is integral to Postal Service systems and the protection of customer, employee and business data, the Committee will continue to monitor developments in the cyber security field as they relate to Postal Service...

  • Page 24
    ... to respond and our cost-cutting strategies were remarkably successful. By year's end, excluding contractual cost increases, we had reduced more than $6 billion in costs across the organization, including work-hour reductions of 115 million T 22 | 2009 Annual Report United States Postal Service

  • Page 25
    ... in 2010. The cost pressures of declining revenue from shrinking mail volume combined with a growing delivery network highlight the need for changes that will allow the Postal Service to adjust to the changing environment. In fact, the U.S. Government Accountability O ffice during FY 2009 added the...

  • Page 26
    ABSTRACT EXPRESSIONISTS T H E 2 0 1 0 S TA M P P ROGR A M 24 | 2009 Annual Report United States Postal Service

  • Page 27
    ... D e Burgos Kate Sm ith Katharine H epburn Kw anzaa N egro L eagues Baseball O scar M icheaux Pansies in a Bask et Scouting Sassoferrato Virgin and Child Sunday Funnies Vancouver 2010 O lym pic W inter G am es W inslow H om er Year of the Tiger 2009 Annual Report United States Postal Service | 25

  • Page 28
    ... SCOUTING DISTINGUISHED SAILORS LUNAR NEW YEAR: YEAR OF THE TIGER NEGRO LEAGUES BASEBALL AMERICAN TREASURES: WINSLOW HOMER BILL MAULDIN LOVE: PANSIES IN A BASKET VANCOUVER 2010 OLYMPIC WINTER GAMES COWBOYS OF THE SILVER SCREEN ANIMAL RESCUE 26 | 2009 Annual Report United States Postal Service

  • Page 29
    FLAGS OF OUR NATION EID HOLIDAY STAMPS KWANZAA ANGEL WITH LUTE CHRISTMAS: SASSOFERRATO VIRGIN AND CHILD HANUKKAH NATURE OF AMERICA: HAWAIIAN RAIN FOREST 2009 Annual Report United States Postal Service | 27

  • Page 30
    ... We give back to the communities in which we live and work. We support efforts to raise awareness about important social concerns. Our Breast Cancer Research semipostal stamp has raised more than $67 million for breast cancer research since 1998. 28 | 2009 Annual Report United States Postal Service

  • Page 31
    ... Price Index - All Urban Consumers (CPI-U). Shipping Services include Priority Mail, Express Mail, Bulk Parcel Post and Bulk International Mail. The regulations for Shipping Services place no upper limit on price changes while setting a price ï¬,oor. 2009 Annual Report United States Postal Service...

  • Page 32
    ..., contract postal units, our website www.usps.com and a network of consignees. We deliver mail to more than 150 million city, rural, Post Office box and highway delivery points. We conduct operations primarily in the domestic market, with international revenue representing less than 4% of total...

  • Page 33
    ...the requirements of the law. We generally adjust prices for Mailing Services annually in May, with increases averaging no higher than the rate of inï¬,ation. We have provided, and plan to continue to provide, at least 90 days notice of the new prices for Mailing Services. Shipping Services Priority...

  • Page 34
    ...- including Priority Mail, Express Mail, Global Express Guaranteed, Express Mail International, Priority Mail International, Parcel Select and Parcel Return Service - will increase an average of 3.3% effective January 4, 2010. Prices for Shipping Services must cover each product's attributable costs...

  • Page 35
    ... in federal employee benefit programs as required by statute, for retirement, health and workers' compensation benefits. AVAILABLE INFORMATION Financial and other information about the Postal Service is available on www.usps.com : click on About USPS and News. Information on our website is not...

  • Page 36
    ... mail is a long-established trend that is expected to continue to depress annual mail volumes, there is some evidence that the recession has accelerated the diversion of First-Class Mail, overnight documents and direct mail advertising. Looking ahead to 2010, we expect mail volume to further decline...

  • Page 37
    ...have long set direct mail advertising apart. In the future it is expected that media that share these characteristics will prosper. It is possible that as the Internet continues to become part of daily life, it will make inroads on advertising by mail. 2009 Annual Report United States Postal Service...

  • Page 38
    ...affect the COLA payments received by claimants with compensation claims. Current labor agreements with the two largest unions expire in November 2010 and November 2011. The ability to negotiate fair contracts that reï¬,ect the state of the economy and current and future mail revenues is essential to...

  • Page 39
    ... our reputation and result in a loss of business. We receive a variety of private information from customers, such as address change data. We have implemented a number of safeguards intended to protect the confidentiality of data that we obtain. 2009 Annual Report United States Postal Service | 37

  • Page 40
    ... medium-sized facilities support the retail and delivery operations located in virtually every community across this country. Our retail and delivery operations are supported by 32,662 leased or owned facilities. We also provide retail services through 3,834 Contract Postal Units and community Post...

  • Page 41
    ... annual cash payment is relatively stable and therefore predictable. Workers' compensation costs are also subject to actuarial estimates of future payouts, based upon prior claims data. These estimates can change significantly from period to period. Deferred revenue for prepaid postage represents...

  • Page 42
    ...both houses of Congress as of September 30, 2009. This law included a provision retroactively reducing the 2009 required payment into the Postal Service Retiree Health Benefits Fund (PSRHBF) from $5.4 billion to $1.4 billion. Wit hout this legislative change, the resulting losses would have left us...

  • Page 43
    ... quarter of the year. Operating Revenue (dollars in millions) Total Mailing Services Total Shipping Services Total Mail Volume by Type 175,677 1,381 177,058 201,128 1,575 202,703 210,604 1,630 212,234 *Free mail for the blind included in " Other" category. 2009 First-Class Mail Standard Mail...

  • Page 44
    ... become more sophisticated in the targeting of their mailings, further reducing mail volume. We expect advertising mail to begin to increase as the economy improves, although many experts do not expect the economic recovery to be rapid or robust. 42 | 2009 Annual Report United States Postal Service

  • Page 45
    ... data on Mailing Services product volume and revenue may be found in the Quarterly Revenue, Pieces and Weight reports on www.usps.com/financials/rpw . OPERATING EXPENSES Operating expenses are comprised of Compensation and Benefits, Retiree Health Benefits, Transportation and Other Expenses...

  • Page 46
    ... related to a change in estimated discount and inï¬,ation rates used to calculate the liability for future payments. This increase in the estimated liability did not affect our cash outlays for 2009. See Note 12, Workers' Compensation, in the Notes to the Financial Statements for more information...

  • Page 47
    ... year. The total number of new delivery points was also dramatically lower in 2009 and is a direct reï¬,ection of the weak economy, with lower housing starts and housing sales. Workhour Reductions (hours in millions) Employees participate in one of three retirement programs of the U.S. government...

  • Page 48
    ... Annual general salary increases - 4.25%. Interest rate - 6.25%. The Postal Service is not required to make any agency contributions to CSRS. Employees continue to contribute 7% of basic pay. Postal Service contribution rate to FERS will not change; contributions will continue at the current rate...

  • Page 49
    ...' Accounting for Postretirement Benefits Other Than Pensions). The drivers of our active employee health care costs are the number of employees electing coverage and the premium costs of the plans they select. On average, the employees of the Postal Service paid for 19% of the premium cost in 2009...

  • Page 50
    ... costs are the number of current participants on the rolls, the mix of plans selected by retirees, the premium costs of those plans, and the apportionment of premium costs to the federal government for retiree service prior to 1971. Retiree health 48 | 2009 Annual Report United States Postal Service...

  • Page 51
    ... pay the Department of Labor (DOL) all workers' compensation claims, as well as an administrative fee, from postal funds. We record as a liability the present value of all future payments we expect to make for those employees receiving workers' compensation. At the end of 2009, we estimate our total...

  • Page 52
    ...estimation model at September 30, 2008. The projected return rates are especially low for 2009 and 2010. While we believe these historically low rates are only temporary, GAAP requires us to use discount rates based on the best available information at the measurement date. The impact of the changes...

  • Page 53
    ... mainly as a result of lower fuel costs. Other Operating Expenses (dollars in millions) 2009 Supplies and Services Depreciation and Amortization Rent and Utilities Vehicle Maintenance Service Information Technology and Communications Rural Carrier Equipment Maintenance Allowance Other $ 2,321 2,270...

  • Page 54
    ... with the Postal Regulatory Commission, we have developed and implemented new service standards and requirements for new or expanded measurement processes for mailing services. The service performance information and results are available at www.usps.com. CUSTOMER SATISFACTION MEASUREMENT (CSM) CSM...

  • Page 55
    ... mail volume, which fell by 25.6 billion pieces, resulting in a $6,842 million, or 9.1%, decrease in revenue, compared to 2008. Also contributing to the losses over these three years were significantly higher retiree health benefit costs pursuant to 2009 Annual Report United States Postal Service...

  • Page 56
    ... by the end of 2011. 54 | 2009 Annual Report United States Postal Service We have also taken steps to build our business. We realigned our product management organizational structure in 2008, creating a new Mailing and Shipping Services division that will help bring new products to market more...

  • Page 57
    ...retirements and lower benefit costs. â- Consolidate retail and processing networks. â- Consolidate field structure. â- Generate revenue through new or enhanced products. â- Change funding requirements for retiree health benefits. â- Realign delivery services with changing use of mail. Cash...

  • Page 58
    ... 2035 for services performed in prior years. See Note 14, Revenue Forgone, in the Notes to the Financial Statements, for additional information. Interest and Investment Income (dollars in millions) $ 10 $ 10.2 2009 Investment Income Imputed interest on accounts receivable from the U.S. government...

  • Page 59
    ...and mail volumes fell precipitously. Looking ahead, there are expectations for a gradual economic recovery in 2010. Although the Commerce Department recently reported that Quarter IV GDP rose at an annualized rate of 3.5%, compared to Quarter III, year-over-year growth was still negative. IHS Global...

  • Page 60
    ...declines in Periodicals are not as dramatic as some other mail categories, they are part of a long-term trend. Both volume and revenue are expected to be relatively ï¬,at in 2010 for Package Services. Shipping Services revenues and volumes are expected to increase slightly in 2010. An average price...

  • Page 61
    ... no changes during the year covered by this report in our internal control over financial reporting or in other factors that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 2009 Annual Report United States Postal Service | 59

  • Page 62
    60 | 2009 Annual Report United States Postal Service

  • Page 63
    ...Statements of Operations (dollars in millions) Years Ended September 30, 2009 Operating revenue Operating expenses: Compensation and benefi ts Retiree health benefi ts Transportation Other Total... statements. $ (3,794) $ (2,806) $ (5,142) 2009 Annual Report United States Postal Service | 61

  • Page 64
    ... 21,544 2,968 1,279 47,698 25,886 21,812 1,381 Total Property and Equipment, Net Other Assets - Principally Revenue Forgone Receivable Total Assets See accompanying notes to the fi nancial statements. 22,680 387 $ 28,118 23,193 439 $ 25,986 62 | 2009 Annual Report United States Postal Service

  • Page 65
    ... Current Liabilities: Compensation and benefi ts Payables and accrued expenses: Trade payables and accrued expenses Foreign countries U.S. government Total payables and accrued expenses Customer deposit accounts Deferred revenue-prepaid postage Outstanding postal money orders Prepaid box rent...

  • Page 66
    ...806) (1,672) 53 (3,794) Balance, September 30, 2007 Net loss Balance, September 30, 2008 Additional Capital Contributions Net loss Balance, September 30, 2009 See accompanying notes to the fi nancial statements. $ 3,087 $ (8,500) $ (5,413) 64 | 2009 Annual Report United States Postal Service

  • Page 67
    ...) increase in other noncurrent liabilities Changes in current assets and liabilities: Receivables, net Supplies, advances and prepayments Compensation and benefi ts Payables and accrued expenses Customer deposit accounts Deferred revenue-prepaid postage Outstanding postal money orders Prepaid box...

  • Page 68
    ...First-Class Mail and Standard Mail account for about 94% of our mail volume, while Priority Mail and Express Mail represent significant services we provide in our shipping category. The principal markets for our services are the communications, distribution, delivery, advertising and retail markets...

  • Page 69
    ... would be to the Postal Service if we cannot fund this PSRHBF payment. We will continue to inform the Congress on our financial outlook and on legislative changes that would help ensure the availability of cash at year-end. However, there 2009 Annual Report United States Postal Service | 67

  • Page 70
    ...75 years, using the straight-line method. Segment Information Although the law divides our services into market-dominant and competitive categories, and we track revenues by category and mail class, we operate one fully integrated network. We operate in one segment throughout the United States, its...

  • Page 71
    ... and Equipment , in the Notes to the Financial Statements, for additional information. Outstanding Postal Money Orders We sell money orders to the general public at our retail locations. We charge a fee to the customer at the time of sale. The fee is recognized as revenue at the time of sale. We...

  • Page 72
    ...paid, current workers' compensation, unemployment costs and health benefits. Emergency Preparedness Appropriation Emergency preparedness appropriations were received from Congress to help pay the costs of keeping the mail, postal employees and postal customers safe, and are restricted for such use...

  • Page 73
    ..., non-SEC accounting literature not included in the Codification became nonauthoritative. This standard is effective for financial statements for interim or annual reporting periods ending after September 15, 2009. We began using the new guidelines and numbering system prescribed by the...

  • Page 74
    ..., and December 15 thereafter. Weighted Average interest rate; as of September 30, 2008, was 0.271%. Funds are typically borrowed overnight. Our lines of credit extend through April 30, 2010, and May 8, 2009, respectively, for these notes. 4 5 6 72 | 2009 Annual Report United States Postal Service

  • Page 75
    ...a rental fee of $1 for the lease term. The Postal Service has an option to require the building owner to change the legal structure of the building ownership into condominium units, with the Postal Service being given the right to purchase the space subject to the 99-year lease. We accounted for the...

  • Page 76
    ... on Order (dollars in millions) (dollars in millions) P.L. 109-435 Requirement 2010 2011 2012 2013 2014 $ 5,500 5,500 5,600 5,600 5,700 11,500 2009 Mail Processing Equipment Building Improvements Postal Support Equipment Construction and Building Purchase Retail Equipment Vehicles $ 1,072...

  • Page 77
    ... the health insurance premiums for current and future Postal Service retirees will be paid from the PSRHBF. P.L.109-435 repealed the escrow provisions of P.L.10818, which required us to place into an escrow account by September 2006 any "savings" from the change in the retirement provisions created...

  • Page 78
    ... dependents of employees who die from work-related injuries or diseases. Our liability at September 30, 2009, represents the estimated present value of the total amount we expect to pay in the future for postal workers injured through the end of 76 | 2009 Annual Report United States Postal Service

  • Page 79
    ... the cost of workers' compensation claims, DOL charges us an administrative fee for processing claims. In 2009, the administrative fee, which is included in the expense above, was $55 million, compared to $52 million in 2008, and $49 million in 2007. 2009 Annual Report United States Postal Service...

  • Page 80
    ... providing these services. We estimate the amount of services that will be provided during a given year and forward a funding request to Congress. At the end of the year we reconcile this request with the actual usage. Depending upon whether actual usage 78 | 2009 Annual Report United States Postal...

  • Page 81
    ... of the remaining future payments as of the years ended September 30 was $344 million in 2009 and $349 million in 2008. The total receivable for revenue forgone as of the years ended September 30 was $448 million in 2009 and $495 million in 2008. 2009 Annual Report United States Postal Service | 79

  • Page 82
    ... Annexes Contract Postal Units Community Post Offi ces 2009 27,161 5,501 3,037 797 2008 27,232 5,509 3,148 834 2007 27,276 5,419 3,131 895 2006 27,318 5,557 3,014 937 2005 27,385 5,622 3,116 1,019 Total Offi ces, Stations and Branches Residential Delivery City Delivery Carriers Rural PO Box...

  • Page 83
    ... Related Employees Field Employees Area Offi ces Postmasters/Installation Heads Supervisors/Managers Professional Administration and Technical Personnel Clerks Nurses Mail Handlers City Delivery Carriers Motor Vehicle Operators Rural Delivery Carriers - Full-Time Building and Equipment Maintenance...

  • Page 84
    ... Total Mailing Services Mail Revenue Pieces, Number Weight, Pounds Ancillary & Special Services Registered Mail Revenue Number of articles Certifi ed Mail Revenue Number of articles Insurance Revenue Number of articles Delivery Receipt Services Revenue Number of articles Money Orders Revenue Face...

  • Page 85
    ... million increase in 2009 and a $230 million increase in 2008 to the deferred revenue-prepaid postage liability. As this is a change in estimate, the decrease in revenue is accounted for in Other Mailing Services revenue in 2009 and 2008 respectively. 2009 Annual Report United States Postal Service...

  • Page 86
    ... impact of P.L.111-68 was $4 billion reduction of expense in 2009. The net impact of P.L. 109-435 legislation was $6.8 billion of additional expense in 2007 ($8.4 billion in additional Retiree health benefi ts less $1.6 billion in CSRS savings). 84 | 2009 Annual Report United States Postal Service

  • Page 87
    ... $450 million increase to the stamp portion of the deferred revenue-prepaid postage liability, due to a change in estimate. Includes the impact of an additional $3.0 billion payment from escrow to the PSRHBF contribution required by P.L. 109-435. 2009 Annual Report United States Postal Service | 85

  • Page 88
    ...less all liabilities. Express Mail. The Postal Service's premium delivery service, providing guaranteed overnight delivery for documents and packages weighing up to 70 pounds. Both domestic and international services are offered. First-Class Mail. A class of mail including letters, postcards and all...

  • Page 89
    ... competitive product list includes: Priority Mail, Expedited Mail, Bulk Parcel Post and Bulk International Mail. Special Services. A category of services that add value to mail by providing added security, proof of delivery or loss recovery. These services include: Certified Mail, Registered Mail...

  • Page 90
    ... and comments at: United States Postal Service Corporate Accounting 475 L'Enfant Plaza, SW Washington, DC 20260-5241 Read our Annual Report online at: www.usps.com/financials/_pdf/ annual_report_2009.pdf © 2009 United States Postal Service. All rights reserved. Production notes for the printed...

  • Page 91
    ... ® , REDRESS® , Registered Mail™, RIBBS® , Signature Confirmation™, Simple Formulas® , Stamps by Mail® , Standard Mail® , The Postal Store® , United States Postal Service® , U.S. Mail® , U.S. Postal Service® , USPS® , USPS Electronic Postmark® , USPS.COM ® , usps.com ® , ZIP...

  • Page 92