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Financial Reports

Chief Financial Officer's (CFO) Report to the Board

DIF Balance Sheet - First Quarter 2020

Fund Financial Results ($ in millions)
Balance Sheet

 


Mar-20


Dec-19

Quarterly
Change


Mar-19

Year-Over-Year
Change

Cash and cash equivalents

$9,490

$5,991

$3,499

$7,062

$2,428

Investment in US Treasury securities

99,733

100,072

(339)

93,507

6,226

Assessments receivable

1,357

1,242

115

1,372

(15)

Interest receivable on investments and other assets, net

709

1,021

(312)

567

142

Receivables from resolutions, net

2,456

2,669

(213)

3,187

(731)

Property and equipment, net

326

330

(4)

324

2

Operating lease right-of-use assets

120

0

120

0

120

Total Assets

$114,191

$111,325

$2,866

$106,019

$8,172

Accounts payable and other liabilities

215

215

0

211

4

Operating lease liabilities

127

0

127

0

127

Liabilities due to resolutions

213

346

(133)

554

(341)

Postretirement benefit liability

289

289

0

236

53

Contingent liability for anticipated failures

107

94

13

115

(8)

Contingent liability for guarantee payments and litigation losses

34

34

0

33

1

Total Liabilities

$985

$978

$7

$1,149

$(164)

FYI: Unrealized gain (loss) on US Treasury securities, net

2,037

587

1,450

(194)

2,231

FYI: Unrealized postretirement benefit (loss) gain

(61)

(61)

0

(14)

(47)

Fund Balance

$113,206

$110,347

$2,859

$104,870

$8,336

Maturity Timeline of Unrealized Gain on U.S. Treasury Securities as of 3/31/2020 (dollars in thousands)
Maturity Timeline of Unrealized Gain on U.S. Treasury Securities as of 3/31/2020 (dollars in thousands)

 

Unrealized Gain on U.S. Treasury Securities

2Q20$19,830
3Q20$163,548
4Q20$79,460
2021$736,217
2022$762,594
2023$275,614

As each US Treasury security nears its maturity, the market value will approach the par value, and the unrealized gain will reduce to zero. For those securities that mature by year end 2020, their unrealized gain as of March 31, 2020 of $263 million, or 13 percent of total unrealized gains, will be reduced to zero.

Last Updated: June 30, 2020