|
|
DIF
Income Statement -
Second Quarter 2007
| Fund Financial Results |
($
in millions) |
| Income Statement |
DIF |
| |
(unaudited) |
(audited) |
|
(unaudited) |
| |
06/30/07 |
12/31/06 |
06/30/06 |
Year-Over-Year
Change |
| Assessments earned |
$ 234 |
$ 32 |
$ 12 |
$ 222 |
| Interest earned on investment securities |
1,315 |
2,241 |
1,143 |
172 |
| Exit fees earned |
0 |
345 |
346 |
(346) |
| Other revenue |
6 |
27 |
19 |
(13) |
| Total Revenue |
$ 1,555 |
$ 2,645 |
$ 1,520 |
$ 35 |
| Operating expenses (includes depreciation
expense) |
487 |
951 |
466 |
21 |
| Provision for insurance losses |
(76) |
(52) |
(52) |
(24) |
| Other expenses |
1 |
6 |
5 |
(4) |
| Total Expenses & Losses |
$ 412 |
$ 905 |
$ 419 |
$ (7) |
| Net Income |
$ 1,143 |
$ 1,740 |
$ 1,101 |
$ 42 |
| Unrealized gain/(loss) on available-for-sale
securities |
(81) |
(173) |
(134) |
53 |
Unrealized postretirement
benefit gain/(loss) |
0 |
2 |
0 |
0 |
| YTD Comprehensive
Income |
$ 1,062 |
$ 1,569 |
$ 967 |
$ 95 |
| Total
1st Quarter 2007 Gross Assessments |
Total
1st Quarter 2007 Assessments Paid |
Remaining
8,620 |
$490.3 |
53% |
Remaining 1,956 |
$44.4 |
47% |
Top
10 |
317.5 |
35% |
Top 10 |
37.5 |
40% |
Top
11 thru 25 |
110.9 |
12% |
Top 11 thru
25 |
12.2 |
13% |
| DIF
Coverage Ratio (Interest Revenue/Operating Expenses) |
| Year |
Interest
on Obligations |
Assessments |
Operating
Expense |
Coverage
Ratio |
| 2003 |
$2,032 |
88 |
$912 |
2.23 |
| 2004 |
$2,108 |
104 |
$942 |
2.35 |
| 2005 |
$2,342 |
61 |
$966 |
2.49 |
| 2006 |
$2,241 |
32 |
$951 |
2.39 |
| June 2007 |
$1,315 |
234 |
$487 |
3.18 |
|
