DEPOSIT INSURANCE FUND (DIF)
V. Financial Section
| (Dollars in Thousands) | 2018 | 2017 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $5,773,995 | $1,829,198 |
| Investment in U.S. Treasury securities (Note 3) | 92,708,356 | 83,302,963 |
| Assessments receivable (Note 9) | 1,376,341 | 2,634,386 |
| Interest receivable on investments and other assets, net | 549,791 | 505,766 |
| Receivables from resolutions, net (Note 4) | 3,058,241 | 5,972,971 |
| Property and equipment, net (Note 5) | 328,530 | 334,050 |
| Total Assets | $103,795,254 | $94,579,334 |
| LIABILITIES | ||
| Accounts payable and other liabilities | $198,072 | $236,971 |
| Liabilities due to resolutions (Note 6) | 604,776 | 1,203,260 |
| Postretirement benefit liability (Note 12) | 235,935 | 259,316 |
| Contingent liabilities: | ||
| Anticipated failure of insured institutions (Note 7) | 113,936 | 97,777 |
| Guarantee payments and litigation losses (Notes 7 and 8) | 33,611 | 34,515 |
| Total Liabilities Commitments and off-balance-sheet exposure (Note 13) |
1,186,330 | 1,831,839 |
| FUND BALANCE | ||
| Accumulated Net Income | 103,238,013 | 93,272,447 |
| ACCUMULATED OTHER COMPREHENSIVE INCOME | ||
| Unrealized (loss) on U.S. Treasury securities, net (Note 3) | (615,549) | (479,362) |
| Unrealized postretirement benefit (loss) (Note 12) | (13,540) | (45,590) |
| Total Accumulated Other Comprehensive (Loss) | (629,089) | (524,952) |
| Total Fund Balance | 102,608,924 | 92,747,495 |
| Total Liabilities and Fund Balance | $103,795,254 | $94,579,334 |
The accompanying notes are an integral part of these financial statements.
| (Dollars in Thousands) | 2018 | 2017 |
|---|---|---|
| REVENUE | ||
| Assessments (Note 9) | $9,526,723 | $10,594,838 |
| Interest on U.S. Treasury securities | 1,632,863 | 1,056,989 |
| Other revenue | 11,208 | 11,947 |
| Total Revenue | 11,170,794 | 11,663,774 |
| EXPENSES AND LOSSES | ||
| Operating expenses (Note 10) | 1,764,748 | 1,739,395 |
| Provision for insurance losses (Note 11) | (562,622) | (183,149) |
| Insurance and other expenses | 3,102 | 2,072 |
| Total Expenses and Losses | 1,205,228 | 1,558,318 |
| Net Income | 9,965,566 | 10,105,456 |
| OTHER COMPREHENSIVE INCOME | ||
| Unrealized (loss) on U.S. Treasury securities, net | (136,187) | (499,633) |
| Unrealized postretirement benefit gain (loss) (Note 12) | 32,050 | (19,843) |
| Total Other Comprehensive (Loss) | (104,137) | (519,476) |
| Comprehensive Income | 9,861,429 | 9,585,980 |
| Fund Balance - Beginning | 92,747,495 | 83,161,515 |
| Fund Balance - Ending | $102,608,924 | $92,747,495 |
The accompanying notes are an integral part of these financial statements.
| (Dollars in Thousands) | 2018 | 2017 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Provided by: | ||
| Assessments | $10,766,890 | $10,609,959 |
| Interest on U.S. Treasury securities | 1,837,400 | 1,622,583 |
| Recoveries from financial institution resolutions | 3,254,230 | 3,952,375 |
| Miscellaneous receipts | 18,290 | 16,853 |
| Used by: | ||
| Operating expenses | (1,744,274) | (1,838,673) |
| Disbursements for financial institution resolutions | (353,448) | (3,010,042) |
| Miscellaneous disbursements | (3,694) | (799) |
| Net Cash Provided by Operating Activities | 13,775,394 | 11,352,256 |
| INVESTING ACTIVITIES | ||
| Provided by: | ||
| Maturity of U.S. Treasury securities | 27,354,816 | 29,931,209 |
| Used by: | ||
| Purchase of U.S. Treasury securities | (37,140,141) | (40,756,734) |
| Purchase of property and equipment | (45,272) | (30,499) |
| Net Cash (Used) by Investing Activities | (9,830,597) | (10,856,024) |
| Net Increase in Cash and Cash Equivalents | 3,944,797 | 496,232 |
| Cash and Cash Equivalents - Beginning | 1,829,198 | 1,332,966 |
| Cash and Cash Equivalents - Ending | $5,773,995 | $1,829,198 |
The accompanying notes are an integral part of these financial statements.