Chief Financial Officer's (CFO) Report to the Board
DIF Income Statement - First Quarter 2016
Fund Financial Results | ($ in millions) |
Income Statement (year-to-date) | ||||
Unaudited Mar-16 |
Audited Dec-15 |
Unaudited Mar-15 |
Year-Over-Year Change |
|
Assessments | $2,328 | $8,847 | $2,189 | $139 |
Interest on U.S. Treasury obligations | 147 | 422 | 60 | 87 |
Other revenue | 5 | 34 | 6 | (1) |
Total Revenue | $2,480 | $9,303 | $2,255 | $225 |
Operating expenses | 415 | 1,687 | 396 | 19 |
Provision for insurance losses | (43) | (2,251) | (426) | 383 |
Insurance and other expenses | - | 11 | - | - |
Total Expenses and Losses | $372 | ($553) | ($30) | $402 |
Net Income | 2,108 | 9,856 | 2,285 | (177) |
Unrealized gain (loss) on U.S. Treasury investments, net | 412 | (60) | 231 | 181 |
Unrealized postretirement benefit gain (loss) | - | 24 | - | - |
Comprehensive Income | $2,520 | $9,820 | $2,516 | $4 |