
|
 |
DIF
Income Statement -
First Quarter 2007
Fund Financial Results |
($
in millions) |
Income Statement |
DIF |
|
(unaudited) |
(audited) |
|
(unaudited) |
|
03/31/07 |
12/31/06 |
03/31/06 |
Year-Over-Year
Change |
Assessments earned |
$ 94 |
$ 32 |
$ 5 |
89 |
Interest earned on investment securities |
567 |
2,241 |
478 |
89 |
Exit fees earned |
0 |
345 |
346 |
(346) |
Other revenue |
4 |
26 |
5 |
(1) |
Total Revenue |
$ 665 |
$ 2,644 |
$ 834 |
(169) |
Operating expenses (includes depreciation
expense) |
239 |
951 |
224 |
15 |
Provision for insurance losses |
(73) |
(52) |
(45) |
(28) |
Other expenses |
0 |
6 |
2 |
(2) |
Total Expenses & Losses |
$ 166 |
$ 905 |
$ 181 |
(15) |
Net Income |
$ 499 |
$ 1,739 |
$ 653 |
(154) |
Unrealized gain/(loss) on available-for-sale
securities |
81 |
(173) |
(57) |
138 |
Unrealized postretirement
benefit gain/(loss) |
0 |
2 |
0 |
0 |
YTD Comprehensive
Income |
$ 580 |
$ 1,568 |
$ 596 |
(16) |

Year |
Superior |
So
Pacific |
NextBank |
Hamilton |
Keystone |
Others |
12/2004 |
344 |
124 |
78 |
17 |
94 |
65 |
12/2005 |
232 |
124 |
90 |
25 |
35 |
27 |
12/2006 |
268 |
132 |
60 |
40 |
12 |
27 |
3/2007 |
213 |
110 |
60 |
7 |
1 |
40 |

DIF
Coverage Ratio (Interest Revenue/Operating Expenses) |
Year |
Interest
on Obligations |
Operating
Expense |
Coverage
Ratio |
2002 |
$2,256 |
$945 |
2.39 |
2003 |
$2,062 |
$934 |
2.21 |
2004 |
$2,108 |
$942 |
2.24 |
2005 |
$2,341 |
$965 |
2.42 |
2006 |
$2,241 |
$951 |
2.36 |
March 2007 |
$567 |
$239 |
2.37 |
|