Item 8. Financial Statements and Supplementary Data > PART II > 2021 Government 10-K
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Item 8. Financial Statements and Supplementary Data

Published on Mon, May 17, 2021 9:00AM PDT | Updated Mon, May 17, 2021 9:05AM PDT

Combined functional income statements

(In billions)

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

2018

 

2017

 

2013

 

2008

 

 

 

 

 

 

 

 

 

 

 

 

Tax revenues

$

5,018

 

$

4,878

 

$

4,164

 

$

3,833

Non-tax revenues

 

698

 

 

721

 

 

608

 

 

112

 

 

 

 

 

 

 

 

 

 

 

 

Total revenue

 

5,716

 

 

5,599

 

 

4,772

 

 

3,945

Transfer payments to individuals other than personnel and subsidies

 

2,982

 

 

2,936

 

 

2,447

 

 

1,847

Compensation for personnel past and present

 

1,691

 

 

1,623

 

 

1,434

 

 

1,304

Payments to others for goods and services

 

705

 

 

674

 

 

646

 

 

720

Capital expenditures

 

559

 

 

534

 

 

493

 

 

511

Net interest paid

 

395

 

 

333

 

 

295

 

 

272

Other income

 

(40)

 

 

(31)

 

 

(35)

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

Total expenditures

 

6,292

 

 

6,069

 

 

5,280

 

 

4,650

 

 

 

 

 

 

 

 

 

 

 

 

Net deficit

$

(576)

 

$

(470)

 

$

(508)

 

$

(705)

 

 

 

 

 

 

 

 

 

 

 

 

Combined segment income statements

(In billions)

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year

2018

 

2017

 

2013

 

2008

 

 

 

 

 

 

 

 

 

 

 

 

Tax revenues

$

5,018

 

$

4,878

 

$

4,164

 

$

3,833

Non-tax revenues

 

698

 

 

721

 

 

608

 

 

112

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

5,716

 

 

5,599

 

 

4,772

 

 

3,945

Establish justice and ensure domestic tranquility expenditures

 

473

 

 

447

 

 

400

 

 

366

Provide for the common defense expenditures

 

874

 

 

835

 

 

833

 

 

741

Promote the general welfare expenditures

 

1,447

 

 

1,410

 

 

1,232

 

 

1,021

Secure the blessings of liberty to ourselves and our posterity expenditures

 

3,355

 

 

3,238

 

 

2,678

 

 

2,358

General government and other expenditures

 

143

 

 

139

 

 

137

 

 

164

 

 

 

 

 

 

 

 

 

 

 

 

Total expenditures

 

6,292

 

 

6,069

 

 

5,280

 

 

4,650

 

 

 

 

 

 

 

 

 

 

 

 

Net deficit

$

(576)

 

$

(470)

 

$

(508)

 

$

(705)

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes.

Combined balance sheets

(In billions)

2018

 

2017

 

 

 

 

 

 

Assets

 

 

 

 

 

Cash and other monetary assets (Note 2)

$

1,310

 

$

1,057

Accounts and taxes receivable, net (Note 3)

 

519

 

 

491

Loans receivable, net (Note 4)

 

1,668

 

 

1,588

Inventories and related property, net (Note 5)

 

338

 

 

327

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

 

12,414

 

 

11,812

Debt and equity securities (Note 7)

 

5,075

 

 

4,745

Investments in government-sponsored enterprises (Note 8)

 

113

 

 

93

Other assets (Note 9)

 

111

 

 

148

 

 

 

 

 

 

Total assets

$

21,548

 

$

20,261

 

 

 

 

 

 

Stewardship land and heritage assets (Note 22)

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

Accounts payable (Note 10)

$

1,064

 

$

1,002

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

 

17,798

 

 

16,807

Employee and veteran benefits payable (Note 12)

 

16,431

 

 

15,879

Environmental and disposal liabilities (Note 13)

 

577

 

 

465

Benefits due and payable (Note 14)

 

211

 

 

219

Insurance and guarantee program liabilities (Note 15)

 

170

 

 

203

Loan guarantee liabilities (Note 4)

 

38

 

 

43

Other liabilities (Note 16)

 

479

 

 

473

 

 

 

 

 

 

Total liabilities

 

36,768

 

 

35,091

Contingencies (Note 18) and commitments (Note 19)

 

 

 

 

 

Accumulated deficit

 

(15,220)

 

 

(14,830)

 

 

 

 

 

 

Total liabilities and accumulated deficit

$

21,548

 

$

20,261

 

 

 

 

 

 

See accompanying notes.