Yearly Report PART II

Item 8. Financial Statements and Supplementary Data

Published on Mon, April 13, 2020 2:58PM PDT | Updated Fri, April 17, 2020 6:23PM PDT

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Item 8. Financial Statements and Supplementary Data > PART II > Government 10-K

Share the 10-k

Combined functional income statements

(In billions)

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

2017

 

2016

 

2012

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax revenues

$

4,874

 

$

4,748

 

$

3,766

 

$

3,831

Non-tax revenues

 

723

 

 

349

 

 

323

 

 

650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

5,597

 

 

5,097

 

 

4,089

 

 

4,481

Transfer payments to individuals other than personnel and subsidies

 

2,933

 

 

2,812

 

 

2,344

 

 

1,710

Compensation for personnel past and present

 

1,623

 

 

1,574

 

 

1,432

 

 

1,229

Payments to others for goods and services

 

677

 

 

690

 

 

767

 

 

628

Capital expenditures

 

534

 

 

497

 

 

514

 

 

465

Net interest paid

 

333

 

 

313

 

 

295

 

 

251

Other income

 

(30)

 

 

(26)

 

 

(37)

 

 

(10)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total expenditures

 

6,070

 

 

5,860

 

 

5,315

 

 

4,273

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net surplus (deficit)

$

(473)

 

$

(763)

 

$

(1,226)

 

$

208

 

 

 

 

 

 

 

 

 

 

 

 

Combined segment income statements

(In billions)

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

2017

 

2016

 

2012

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax revenues

$

4,874

 

$

4,748

 

$

3,766

 

$

3,831

Non-tax revenues

 

723

 

 

349

 

 

323

 

 

650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

5,597

 

 

5,097

 

 

4,089

 

 

4,481

Establish justice and ensure domestic tranquility expenditures

 

448

 

 

425

 

 

382

 

 

347

Provide for the common defense expenditures

 

835

 

 

828

 

 

854

 

 

662

Promote the general welfare expenditures

 

1,408

 

 

1,358

 

 

1,275

 

 

898

Secure the blessings of liberty to ourselves and our posterity expenditures

 

3,236

 

 

3,104

 

 

2,666

 

 

2,212

General government and other expenditures

 

143

 

 

145

 

 

138

 

 

154

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total expenditures

 

6,070

 

 

5,860

 

 

5,315

 

 

4,273

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net surplus (deficit)

$

(473)

 

$

(763)

 

$

(1,226)

 

$

208

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes.

Combined balance sheets

(In billions)

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

Cash and other monetary assets (Note 2)

$

1,025

 

$

1,201

Accounts and taxes receivable, net (Note 3)

 

493

 

 

463

Loans receivable, net (Note 4)

 

1,588

 

 

1,503

Inventories and related property, net (Note 5)

 

327

 

 

314

Property, plant, and equipment, net (Note 6)

 

11,806

 

 

11,330

Debt and equity securities (Note 7)

 

4,938

 

 

4,544

Investments in government-sponsored enterprises (Note 8)

 

93

 

 

109

Other assets (Note 9)

 

150

 

 

144

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

$

20,420

 

$

19,608

 

 

 

 

 

 

 

 

 

 

 

 

Stewardship land and heritage assets (Note 22)

 

 

 

 

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

Accounts payable (Note 10)

$

1,002

 

$

949

Debt securities held by the public and accrued interest (Note 11)

 

16,797

 

 

16,421

Employee and veteran benefits payable (Note 12)

 

15,879

 

 

15,104

Environmental and disposal liabilities (Note 13)

 

465

 

 

447

Benefits due and payable (Note 14)

 

219

 

 

218

Insurance and guarantee program liabilities (Note 15)

 

203

 

 

187

Loan guarantee liabilities (Note 4)

 

43

 

 

18

Other liabilities (Note 16)

 

473

 

 

469

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

35,081

 

 

33,813

 

 

 

 

 

 

Contingencies (Note 18) and commitments (Note 19)

 

 

 

 

 

 

 

 

 

 

 

Accumulated deficit

 

(14,661)

 

 

(14,205)

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and accumulated deficit

$

20,420

 

$

19,608

 

 

 

 

 

 

See accompanying notes.