Yearly Report PART II

Item 6. Selected Financial Data

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Item 6. Selected Financial Data > PART II > Government 10-K

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The figures below represent financial highlights for our Government, comprising combined federal, state, and local government figures.

(In billions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended September 30,

 

2017

 

 

2016

 

 

2015

 

 

2010

 

 

2005

 

 

2000

 

 

1990

 

 

1980

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As reported

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

5,597

 

 

$

5,097

 

 

$

5,168

 

 

$

3,931

 

 

$

3,640

 

 

$

3,214

 

 

$

1,638

 

 

$

770

Expenditures

 

$

6,070

 

 

$

5,860

 

 

$

5,660

 

 

$

5,130

 

 

$

3,826

 

 

$

2,804

 

 

$

1,818

 

 

$

833

Surplus (deficit)

 

$

(473)

 

 

$

(763)

 

 

$

(492)

 

 

$

(1,199)

 

 

$

(186)

 

 

$

410

 

 

$

(180)

 

 

$

(63)

Cash, cash equivalents, and short-term investments 1

 

$

1,010

 

 

$

1,180

 

 

$

1,010

 

 

$

967

 

 

$

506

 

 

$

479

 

 

$

298

 

 

$

128

Total assets 1

 

$

22,489

 

 

$

21,650

 

 

$

21,102

 

 

$

17,327

 

 

$

13,146

 

 

$

10,281

 

 

$

5,591

 

 

$

2,863

Total liabilities 1

 

$

29,923

 

 

$

29,068

 

 

$

27,888

 

 

$

20,937

 

 

$

13,805

 

 

$

9,409

 

 

$

5,547

 

 

$

2,143

Net worth 1

 

$

(7,434)

 

 

$

(7,418)

 

 

$

(6,786)

 

 

$

(3,610)

 

 

$

(659)

 

 

$

872

 

 

$

44

 

 

$

720

Adjusted for inflation 2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

5,597

 

 

$

5,202

 

 

$

5,323

 

 

$

4,410

 

 

$

4,587

 

 

$

4,590

 

 

$

3,103

 

 

$

2,347

Expenditures

 

$

6,070

 

 

$

5,980

 

 

$

5,830

 

 

$

5,755

 

 

$

4,821

 

 

$

4,004

 

 

$

3,443

 

 

$

2,539

Surplus (deficit)

 

$

(473)

 

 

$

(778)

 

 

$

(507)

 

 

$

(1,345)

 

 

$

(234)

 

 

$

586

 

 

$

(340)

 

 

$

(192)

Cash, cash equivalents, and short-term investments 1

 

$

1,010

 

 

$

1,204

 

 

$

1,040

 

 

$

1,085

 

 

$

638

 

 

$

684

 

 

$

565

 

 

$

390

Total assets 1

 

$

22,489

 

 

$

22,094

 

 

$

21,735

 

 

$

19,437

 

 

$

16,565

 

 

$

14,681

 

 

$

10,593

 

 

$

8,726

Total liabilities 1

 

$

29,923

 

 

$

29,664

 

 

$

28,724

 

 

$

23,487

 

 

$

17,396

 

 

$

13,436

 

 

$

10,510

 

 

$

6,531

Net worth 1

 

$

(7,434)

 

 

$

(7,570)

 

 

$

(6,989)

 

 

$

(4,050)

 

 

$

(831)

 

 

$

1,245

 

 

$

83

 

 

$

2,195

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 Balance sheet figures shown here are sourced from the Federal Reserve. The balance sheets we use in all other sections of this document are sourced as described in Exhibit 99.01. Because Item 6 requires us to show more years of financial information than elsewhere in this report, these figures are sourced from the Federal Reserve as this is the only source with an extended time series of combined balance sheet data. Key differences in balance sheets from the two sources are that the Federal Reserve does not include in its data; TARP investments, inventories and related property, investments in GSEs, or land in their assets or environmental and disposal liabilities, benefits due and payable, loan guarantee liabilities, or other liabilities. They also appear to account for Treasury securities, property, plant, and equipment, and employee and veteran benefits payable on different bases.

2 To show the financial highlights in “real” terms, we have calculated and reported inflation-adjusted amounts. The inflation adjustment factors are based on the Consumer Price Index – All Urban Consumers (CPI-U) with a baseline year of 2017.