US Postal Service 2010 Annual Report Download

Download and view the complete annual report

Please find the complete 2010 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 93

  • 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
  • 93

Table of contents

  • Page 1

  • Page 2

  • Page 3
    ... the Board of Governors Foundation For The Future Overview of the 10-year Plan Progress Against the Plan: Our Checklist Retiree Health Benefits Prefunding Delivery Frequency Expand Access Workforce Pricing Expand Products and Services Oversight The Board of Governors The Executive Committee Message...

  • Page 4
    ... 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 2010 2009 2008 Percent change from preceding year 2010 2009 2008...

  • Page 5
    ... of the Two Largest Mail Classes Global Bargain 2010 First-Class Mail Letter Equivalent Prices in U.S. Dollars 78 83 88 1.50 .97 Norway Japan France Germany Great Britain Canada United States 52 .79 2010 2020 2010 2020 .75 .66 .57 .44 2010 Annual Report United States Postal Service 3

  • Page 6
    ..., seeking an advisory ruling on a five-day delivery schedule to better reï¬,ect current mail volumes and customer usage. Survey data show that the public supports a five-day delivery schedule to strengthen the finances of the Postal Service. â- 4 2010 Annual Report United States Postal Service

  • Page 7
    ... of the Postal Act of 2006. Although the request was denied, we will continue to seek the authority to price our products appropriately in the marketplace. â- We expanded our array of products and services. We continued to build on the success of our Priority Mail Flat Rate shipping campaign by...

  • Page 8
    ... General John E. Potter's keynote presentation at "Envisioning America's Future Postal Service," a stakeholder policy conference held March 2, 2010 in Washington, DC. Postal Service of the Future TODAY LIMITED ABILITY TO RESPOND TO MARKET CHANGES Retiree health benefits Delivery frequency Access...

  • Page 9
    ... sound, and market responsive Postal Service for the future. â- Delivering the Future BUSINESS PLAN: PROPOSED ACTIONS Actions Within USPS Control Retiree Health Benefits Delivery Frequency Expanded Access Workforce Revenue (Pricing & Products) REMAINING GAP (from $238B) CUMULATIVE VALUE 2010-2020...

  • Page 10
    ...Postal Service took many positive steps to implement its Action Plan. The next pages describe this important progress Retiree Health Benefits Prefunding Delivery Frequency Expand Access Workforce Pricing Expand Products and Services Oversight 8 2010 Annual Report United States Postal Service

  • Page 11
    ... an average of $5.65 billion in additional cash ï¬,ow per year through 2016. USPS is experiencing unprecedented losses POSTAL SERVICE NET PROFIT/LOSS $ Billions No price increase 2003-06 3.9 3.1 1.4 0.9 Net income without RHB 3.3 2.8 -2.4 Retiree health benefits prefunding is driving losses 02...

  • Page 12
    ... feedback from our customers and analysis of impacts to the Postal Service, we submitted a filing to the Postal Regulatory Commission (PRC) regarding plans to make this important transition. Mail volumes are generally at their lowest on Saturdays and more than a third of U.S. businesses are closed...

  • Page 13
    ... Flat Rate boxes and envelopes, Express Mail, Parcel Post and stamps. This is just one way in which we are modernizing the existing retail network to better match the changing needs of our customers, while efficiently managing costs. In the past year, we have also improved and expanded our online...

  • Page 14
    ... on these important goals. While we prefer in all cases to manage these changes through collective bargaining, under existing law arbitration is always a possibility. Our first priority in any arbitration ruling must always be the financial health of the Postal Service and the affordability...

  • Page 15
    ...pricing to better reï¬,ect market dynamics and to offset current and future volume and revenue declines. In 2010, pursuant to the tenets of our March 2 Ensuring a Viable Postal Service for America: An Action Plan for the Future, we have actively pursued a number of initiatives to address our pricing...

  • Page 16
    ... ï¬,at rate box required. We also continued sale promotions, offering pricing incentives of 30 percent on Standard Mail volumes above a certain threshold, and a First-Class Mail Incentive Many Post Office lobbies are offering new products and services - including holiday and gift cards. I Program...

  • Page 17
    ... speed to market and quick decision making. SOLUTION Streamline oversight by redefining regulatory roles and processes. The Postal Service is working with Congress to establish a more ï¬,exible business model to better meet the evolving mailing needs of the American people. 2010 Annual Report...

  • Page 18
    ... General and the Deputy Postmaster General. The Governors appoint the Postmaster General, who serves at their pleasure without a specific term of office. The Governors, together with the Postmaster General, appoint the Deputy Postmaster General. 16 2010 Annual Report United States Postal Service

  • Page 19
    ... Tax-Exempt Series I, the JP Morgan Value Opportunities Fund and Clean Energy Fuels Corp. Former Director, U.S. Office of Management and Budget, 1985 to 1988. Former Chairman, U.S. Federal Trade Commission, 1981 to 1985. Dennis J. Toner Appointed September 2010. Term expires December 2012. Member...

  • Page 20
    ...the Postal Service. Joseph Corbett Chief Financial Officer and Executive Vice President Marie Therese Dominguez Vice President, Government Relations and Public Policy Paul Vogel President, Mailing and Shipping Services Linda A. Kingsley Senior Vice President, Strategy and Transition John E. Potter...

  • Page 21
    ... of Governors Susan M. Plonkey Vice President, Sales Samuel M. Pulcrano Vice President, Sustainability Gary C. Reblin Vice President, Shipping Services Maura Robinson Vice President, Pricing Tom A. Samra Vice President, Facilities Pranab Shah Vice President and Managing Director, Global Business...

  • Page 22
    ... contributed to the development of our ten-year action plan, Ensuring a Viable Postal Service for America: An Action Plan for the Future. â- â- â- â- The Committee closely reviewed financial results, forecasts and cash ï¬,ow projections at each meeting and advised the full Board as to its...

  • Page 23
    ..., the Committee recommended, and the Board approved, the financial statements for 2010. "The Postal Service not only completed its third full fiscal year in compliance with SEC reporting rules but also achieved the significant milestone of successfully implementing full SOX compliance." James...

  • Page 24
    ... mailers, seasonal sales, widespread promotion of our ï¬,at-rate shipping options and a reorganized sales force. Despite impressive cost-cutting to right-size and realign Postal Service operations with lower mail volume and revenue levels, we recorded a loss of $8.5 billion for the fiscal year. Of...

  • Page 25
    ... required both internal change and changes by our customers, suppliers, business partners and others in the mailing industry. I thank our staff and the entire industry for helping reach this important milestone. Although we anticipate continued financial challenges in fiscal year 2011 and beyond...

  • Page 26
    Stamps By Design PIONEERS OF AMERICAN INDUSTRIAL DESIGN THE 2011 COMMEMORATIVE STAMP PROGRAM AMERICAN TREASURES EDWARD HOPPER ROMARE BEARDEN LATIN MUSIC LEGENDS JAZZ APPRECIATION 24 2010 Annual Report United States Postal Service

  • Page 27
    HELEN HAYES LEGENDS OF HOLLYWOOD LITERARY ARTS GREGORY PECK MARK TWAIN AMERICAN SCIENTISTS MERCURY/MESSENGER LOVE GARDEN OF LOVE 2010 Annual Report United States Postal Service 25

  • Page 28
    BLACK HERITAGE U.S. MERCHANT MARINE BARBARA JORDAN CIVIL WAR: 1861 26 2010 Annual Report United States Postal Service

  • Page 29
    FLAGS OF OUR NATION KANSAS STATEHOOD OWNEY THE POSTAL DOG INDIANAPOLIS 500 HOLIDAY STAMPS HOLIDAY BAUBLES MADONNA OF THE CANDELABRA BY RAPHAEL LUNAR NEW YEAR YEAR OF THE RABBIT 2010 Annual Report United States Postal Service 27

  • Page 30
    .... This was one of the largest successful SOX implementations on record and the first within the federal government. In the following section, please find the annual financial statement of the United States Postal Service for fiscal year 2010. 28 2010 Annual Report United States Postal Service

  • Page 31
    2010 Annual Report United States Postal Service 29

  • Page 32
    30 2010 Annual Report United States Postal Service

  • Page 33
    2010 Annual Report United States Postal Service 31

  • Page 34
    32 2010 Annual Report United States Postal Service

  • Page 35
    2010 Annual Report United States Postal Service 33

  • Page 36
    34 2010 Annual Report United States Postal Service

  • Page 37
    2010 Annual Report United States Postal Service 35

  • Page 38
    36 2010 Annual Report United States Postal Service

  • Page 39
    2010 Annual Report United States Postal Service 37

  • Page 40
    38 2010 Annual Report United States Postal Service

  • Page 41
    2010 Annual Report United States Postal Service 39

  • Page 42
    40 2010 Annual Report United States Postal Service

  • Page 43
    2010 Annual Report United States Postal Service 41

  • Page 44
    42 2010 Annual Report United States Postal Service

  • Page 45
    2010 Annual Report United States Postal Service 43

  • Page 46
    44 2010 Annual Report United States Postal Service

  • Page 47
    2010 Annual Report United States Postal Service 45

  • Page 48
    46 2010 Annual Report United States Postal Service

  • Page 49
    2010 Annual Report United States Postal Service 47

  • Page 50
    48 2010 Annual Report United States Postal Service

  • Page 51
    2010 Annual Report United States Postal Service 49

  • Page 52
    50 2010 Annual Report United States Postal Service

  • Page 53
    2010 Annual Report United States Postal Service 51

  • Page 54
    52 2010 Annual Report United States Postal Service

  • Page 55
    2010 Annual Report United States Postal Service 53

  • Page 56
    54 2010 Annual Report United States Postal Service

  • Page 57
    2010 Annual Report United States Postal Service 55

  • Page 58
    56 2010 Annual Report United States Postal Service

  • Page 59
    2010 Annual Report United States Postal Service 57

  • Page 60
    58 2010 Annual Report United States Postal Service

  • Page 61
    2010 Annual Report United States Postal Service 59

  • Page 62
    60 2010 Annual Report United States Postal Service

  • Page 63
    2010 Annual Report United States Postal Service 61

  • Page 64
    62 2010 Annual Report United States Postal Service

  • Page 65
    2010 Annual Report United States Postal Service 63

  • Page 66
    64 2010 Annual Report United States Postal Service

  • Page 67
    2010 Annual Report United States Postal Service 65

  • Page 68
    66 2010 Annual Report United States Postal Service

  • Page 69
    2010 Annual Report United States Postal Service 67

  • Page 70
    68 2010 Annual Report United States Postal Service

  • Page 71
    2010 Annual Report United States Postal Service 69

  • Page 72
    70 2010 Annual Report United States Postal Service

  • Page 73
    2010 Annual Report United States Postal Service 71

  • Page 74
    72 2010 Annual Report United States Postal Service

  • Page 75
    2010 Annual Report United States Postal Service 73

  • Page 76
    74 2010 Annual Report United States Postal Service

  • Page 77
    2010 Annual Report United States Postal Service 75

  • Page 78
    76 2010 Annual Report United States Postal Service

  • Page 79
    2010 Annual Report United States Postal Service 77

  • Page 80
    78 2010 Annual Report United States Postal Service

  • Page 81
    2010 Annual Report United States Postal Service 79

  • Page 82
    80 2010 Annual Report United States Postal Service

  • Page 83
    2010 Annual Report United States Postal Service 81

  • Page 84
    82 2010 Annual Report United States Postal Service

  • Page 85
    2010 Annual Report United States Postal Service 83

  • Page 86
    84 2010 Annual Report United States Postal Service

  • Page 87
    2010 Annual Report United States Postal Service 85

  • Page 88
    86 2010 Annual Report United States Postal Service

  • Page 89
    2010 Annual Report United States Postal Service 87

  • Page 90
    88 2010 Annual Report United States Postal Service

  • Page 91
    ... published by: United States Postal Service Corporate Communications 475 L'Enfant Plaza, SW Washington, DC 20260-3100 Read our Annual Report online at: www.usps.com/financials/_pdf/annual_ report_2010.pdf © 2010 United States Postal Service. All rights reserved. Trademarks The following are among...

  • Page 92
    ... in war zones. In fact, between the Thanksgiving and Christmas holidays this year, nearly 30 million pounds of mail will be delivered to troops in Afghanistan and Iraq. Every day nearly half a million pounds of mail is shipped from the U.S. to service men and women stationed around the world. That...

  • Page 93