|
|
DIF
Income Statement -
Fourth Quarter 2006
| Fund Financial Results |
($ in millions – All data is unaudited) |
| Income Statement |
DIF |
|
|
|
| |
12/31/06 |
12/31/05 |
Year-Over-Year
Change |
%Change |
| Assessments earned |
$ 32 |
$ 61 |
(29) |
(48%) |
| Interest earned on investment securities |
2,241 |
2,342 |
(101) |
(4%) |
| Exit fees earned |
345 |
0 |
345 |
0% |
| Other revenue |
26 |
18 |
8 |
44% |
| Total Revenue |
$ 2,644 |
$ 2,421 |
223 |
9% |
| Operating expenses (includes depreciation
expense) |
951 |
966 |
(15) |
(2%) |
| Provision for insurance losses |
(52) |
(160) |
108 |
68% |
| Other expenses |
6 |
4 |
2 |
50% |
| Total Expenses & Losses |
$ 905 |
$ 810 |
95 |
12% |
| Net Income |
$ 1,739 |
$ 1,611 |
128 |
8% |
| Unrealized (loss)/gain on available-for-sale
securities |
(173) |
(521) |
348 |
67% |
| Unrealized postretirement
benefit gain/(loss) |
2 |
n/a |
2 |
0% |
| YTD Comprehensive
Income |
$ 1,568 |
$ 1,090 |
$ 478 |
$ 44% |
| Postretirement
Benefit Liability for Dental and Life Insurance |
| Year |
Unrealized
postretirement benefit gain/(loss) |
Postretirement
Benefit Liability |
| 2003 |
-24 |
112 |
| 2004 |
-20 |
120 |
| 2005 |
-12 |
139 |
2006 |
2 |
130 |
| Components
of Interest Earned on Investment Securities |
| Year |
Interest
Income |
TIPS
Inflation Compensation |
Total
Interest Earned |
| 2003 |
$1,907 |
$155 |
$2,062 |
| 2004 |
$1,865 |
$243 |
$2,108 |
| 2005 |
$1,997 |
$345 |
$2,342 |
| 2006 |
$2,132 |
$109 |
$2,241 |
|
