%PDF-1.5 1 0 obj <> endobj 3 0 obj <>>>] /Rotate 0 /Contents 4 0 R>> endobj 4 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 677.12 Td (FOR IMMEDIA) Tj ET Q q 0 0 0 rg BT 118.29 677.12 Td (TE RELEASE) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.60 688.12 Td (Contact: David Partenheimer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 678.12 Td (202.268.2599) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.85 668.12 Td (david.a.partenheimer@usps.gov) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.05 658.12 Td (usps.com/news) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 658.12 Td (August 7, 2020) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 227.95 0 0 39.00 52.00 707.02 cm /I1 Do Q /GS0 gs q 184.00 0 0 33.62 377.00 708.17 cm /I2 Do Q BT /F4 14.00 Tf ET q 0 0 0 rg BT 100.95 606.40 Td (U.S. Postal Service Reports ) Tj ET Q BT /F4 14.00 Tf ET q 0 0 0 rg BT 288.47 606.40 Td (Third) Tj ET Q BT /F4 14.00 Tf ET q 0 0 0 rg BT 323.46 606.40 Td ( Quarter Fiscal ) Tj ET Q BT /F4 14.00 Tf ET q 0 0 0 rg BT 425.39 606.40 Td (2020) Tj ET Q BT /F4 14.00 Tf ET q 0 0 0 rg BT 456.53 606.40 Td ( Results) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 104.00 580.05 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 580.05 Td (COVID-19 impacts result in declining mail volumes and increased Shipping and Package ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 566.85 Td (volumes) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 104.00 553.65 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 553.65 Td (Uncertainty persists concerning the medium to long-term impact to the business, and the ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 540.45 Td (agreement on additional borrowing merely postpones the liquidity crisis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 527.25 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 527.25 Td (Postal Service employees continue to serve the nation during the pandemic) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 104.00 514.05 Td ( ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 122.00 514.05 Td (USPS tops ) Tj ET Q BT /F3 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.81 w 0 i [] 0 d 1 J 1 j 3 M 178.8583984375 512.481640625 m 320.6982421875 512.481640625 l s q 0 0 1 rg BT 178.86 514.05 Td (The Harris Poll Essential 100) Tj ET Q BT /F3 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 320.70 514.05 Td ( in COVID-19 response) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 490.05 Td (W) Tj ET Q q 0 0 0 rg BT 58.89 490.05 Td (ASHINGT) Tj ET Q q 0 0 0 rg BT 103.71 490.05 Td (ON) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.71 490.05 Td ( - ) Tj ET Q q 0 0 0 rg BT 127.41 490.05 Td (The U.S. Postal Service today reported its financial results for third quarter of its fiscal year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.92 490.05 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.16 490.05 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 478.05 Td (\() Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.33 478.05 Td (April1, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.48 478.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.36 478.05 Td (June30, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.75 478.05 Td (\), as the COVID-19 pandemic continues to have an unpredictable impact on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 466.05 Td (economy and the Postal Service. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 442.05 Td (Quarantines, stay-at-home orders, and travel and logistics restrictions in connection with the outbreak have af) Tj ET Q q 0 0 0 rg BT 533.96 442.05 Td (fected ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 430.05 Td (retail and commercial customers, as well as suppliers and mail service providers. ) Tj ET Q q 0 0 0 rg BT 410.51 430.05 Td (The Postal Service relies on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 418.05 Td (sale of postal products and services to fund its operations and is significantly impacted by factors including, but not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 406.05 Td (limited to, overall customer demand, the mix of postal services and contribution associated with those services, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 394.05 Td (the volume of mail and packages processed through its network.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.05 Td (As a result of the pandemic, and to a lesser extent, secular mail declines, the Postal Service) Tj ET Q q 0 0 0 rg BT 458.92 370.05 Td (s sales from mail ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.05 Td (services, its largest sales category) Tj ET Q q 0 0 0 rg BT 201.54 358.05 Td (, continued to significantly decline during the third quarter) Tj ET Q q 0 0 0 rg BT 453.92 358.05 Td (. Meanwhile, the Postal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.05 Td (Service) Tj ET Q q 0 0 0 rg BT 85.39 346.05 Td (s sales from Shipping and Packages experienced substantial growth as a result of the surge in e-commerce ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 334.05 Td (driven by the COVID-19 pandemic, and we expect this surge to abate as the economy opens. However) Tj ET Q q 0 0 0 rg BT 505.25 334.05 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 322.05 Td (package volume increases drove substantial increases in workhour and operating expenses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 298.05 Td (The ability to borrow an additional $10 billion under the CARES ) Tj ET Q q 0 0 0 rg BT 331.84 298.05 Td (Act addresses the Postal Service's near-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 286.05 Td (liquidity crisis but does not address the Postal Service's broken business model. It merely postpones the impending ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 274.05 Td (liquidity crisis and the borrowings must be repaid in a period where cash shortages are forecasted. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.05 Td (In addition to increased labor costs to support this volume increase, transportation expenses were impacted as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 238.05 Td (logistics restrictions and limitations associated with the pandemic led to fewer modes of available transportation, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.05 Td (especially air transportation. Furthermore, the pandemic significantly increased the Postal Service) Tj ET Q q 0 0 0 rg BT 483.92 226.05 Td (s expenses for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 214.05 Td (supplies and services, such as personal protective equipment \(PPE\), and also increased paid sick leave, including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 202.05 Td (new leave authorized by the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 177.30 202.05 Td (Families First Coronavirus Response ) Tj ET Q q 0 0 0 rg BT 343.65 202.05 Td (Act) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.10 202.05 Td (, enacted as Public Law 1) Tj ET Q q 0 0 0 rg BT 471.32 202.05 Td (16-127 \(FFCRA\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 190.05 Td (The FFCRA) Tj ET Q q 0 0 0 rg BT 102.79 190.05 Td ( provides the means for companies and other government entities to receive federal reimbursement for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 178.05 Td (payment of this FFCRA) Tj ET Q q 0 0 0 rg BT 153.37 178.05 Td ( leave, however) Tj ET Q q 0 0 0 rg BT 222.86 178.05 Td (, the Postal Service is not eligible for such reimbursement.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 154.05 Td (The Postal Service reported total revenue of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.44 154.05 Td ($17.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.82 154.05 Td ( for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.72 154.05 Td (third) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.18 154.05 Td ( quarter of fiscal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.10 154.05 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.34 154.05 Td (, an increase of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.50 154.05 Td ($547 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 142.05 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.34 142.05 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.57 142.05 Td (3.2 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.60 142.05 Td (, compared to the same period last year) Tj ET Q q 0 0 0 rg BT 321.25 142.05 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 118.05 Td (Compared to the same quarter last year) Tj ET Q q 0 0 0 rg BT 226.20 118.05 Td (, Marketing Mail revenue declined by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.84 118.05 Td ($1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 118.05 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.88 118.05 Td (37.2 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.48 118.05 Td (, on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 106.05 Td (volume decline of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.60 106.05 Td (6.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.85 106.05 Td ( pieces, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.76 106.05 Td (36.4 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.36 106.05 Td (. First-Class Mail revenue decreased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.31 106.05 Td ($373 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.68 106.05 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.90 106.05 Td (6.4 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 94.05 Td (percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 83.35 94.05 Td (, on a volume decline of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.75 94.05 Td (1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.00 94.05 Td ( pieces, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.92 94.05 Td (8.4 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.95 94.05 Td (. Secular declines in mail have continued to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 82.05 Td (negatively af) Tj ET Q q 0 0 0 rg BT 105.97 82.05 Td (fect mail revenue and volume, and those declines have been significantly exacerbated by the ef) Tj ET Q q 0 0 0 rg BT 528.27 82.05 Td (fects of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 70.05 Td (the COVID-19 pandemic.) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 741.75 Td (Meanwhile, Shipping and Packages revenue increased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.61 741.75 Td ($2.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.42 741.75 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.65 741.75 Td (53.6 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.24 741.75 Td (, on a volume increase of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.75 741.75 Td (708 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 729.75 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.34 729.75 Td ( pieces, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.25 729.75 Td (49.9 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.85 729.75 Td (, compared to the same quarter last year) Tj ET Q q 0 0 0 rg BT 362.38 729.75 Td (. In the near term, the Postal Service ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 717.75 Td (anticipates that these trends will continue given the surge in e-commerce as many ) Tj ET Q q 0 0 0 rg BT 415.19 717.75 Td (Americans stay home due to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 705.75 Td (COVID-19 pandemic. ) Tj ET Q q 0 0 0 rg BT 147.64 705.75 Td (The Postal Service has and will continue to serve its customers during this crisis through the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 693.75 Td (delivery of medicine, essential consumer staples, benefits checks, and important information, but does not expect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 681.75 Td (its package revenue growth over the medium to long term to make up for its losses in mail service revenue caused ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 669.75 Td (by COVID-19.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 645.75 Td ("Significant declines in our mail volumes as the result of the pandemic were largely of) Tj ET Q q 0 0 0 rg BT 426.89 645.75 Td (fset by corresponding growth ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 633.75 Td (in our package business, but the reality remains that the Postal Service is in a financially unsustainable position ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 621.75 Td (absent significant fundamental change," said Postmaster General and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 444.70 621.75 Td (ficer Louis DeJoy) Tj ET Q q 0 0 0 rg BT 520.66 621.75 Td (. "As we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 609.75 Td (work on a plan to ensure our future, we will continue to focus on ef) Tj ET Q q 0 0 0 rg BT 343.32 609.75 Td (ficiency and revenue growth opportunities while ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 597.75 Td (delivering vital services for the country) Tj ET Q q 0 0 0 rg BT 218.77 597.75 Td (, and our dedicated employees on the front line continue to provide trusted, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 585.75 Td (safe and secure service. Despite our very significant challenges, I remain optimistic about the future of the Postal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 573.75 Td (Service, but we need to get moving to ef) Tj ET Q q 0 0 0 rg BT 228.26 573.75 Td (fect change immediately) Tj ET Q q 0 0 0 rg BT 335.35 573.75 Td (." ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 549.75 Td (T) Tj ET Q q 0 0 0 rg BT 55.00 549.75 Td (otal operating expenses were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.42 549.75 Td ($19.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.79 549.75 Td ( for the quarter) Tj ET Q q 0 0 0 rg BT 306.83 549.75 Td (, an increase of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.98 549.75 Td ($477 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.35 549.75 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.57 549.75 Td (2.5 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.61 549.75 Td (, compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 537.75 Td (the same quarter last year) Tj ET Q q 0 0 0 rg BT 165.62 537.75 Td (. Compensation and benefits expense increased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.76 537.75 Td ($632 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.13 537.75 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.35 537.75 Td (5.5 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.39 537.75 Td (, primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 525.75 Td (due to package growth, contractual wage increases and an increase in paid leave, including the newly authorized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 513.75 Td (FFCRA) Tj ET Q q 0 0 0 rg BT 82.78 513.75 Td ( leave. Retiree health and retirement benefits expenses increased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.18 513.75 Td ($172 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.54 513.75 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.77 513.75 Td (19.7 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.37 513.75 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 501.75 Td ($233 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.36 501.75 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.59 501.75 Td (15.8 percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.19 501.75 Td (, respectively) Tj ET Q q 0 0 0 rg BT 233.80 501.75 Td (, driven by revised actuarial assumptions outside of management) Tj ET Q q 0 0 0 rg BT 523.77 501.75 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 489.75 Td (control. ) Tj ET Q q 0 0 0 rg BT 85.39 489.75 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 231.39 489.75 Td (fset by a decline in workers' compensation of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.84 489.75 Td ($885 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.21 489.75 Td ( due to an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 477.75 Td (increase in interest rates, also outside of management's control.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 453.75 Td (The net loss for the quarter was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.40 453.75 Td ($2.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.22 453.75 Td ( compared to a net loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.06 453.75 Td ($2.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.87 453.75 Td ( for the same quarter last year) Tj ET Q q 0 0 0 rg BT 539.71 453.75 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 441.75 Td (The controllable loss for the quarter was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.64 441.75 Td ($1.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.46 441.75 Td (, compared to a controllable loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.32 441.75 Td ($1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.13 441.75 Td ( reported for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 429.75 Td (same quarter last year) Tj ET Q q 0 0 0 rg BT 148.94 429.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 405.75 Td (The strong growth of our package volume in the third quarter was encouraging, but there is great uncertainty about ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 393.75 Td (whether that growth will be sustainable, said Chief Financial Of) Tj ET Q q 0 0 0 rg BT 331.07 393.75 Td (ficer Joseph Corbett. At the same time, First-Class ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 381.75 Td (Mail and Marketing Mail have seen deep volume declines associated with the pandemic, and that lost volume may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 369.75 Td (never return, as was the case following the Great Recession of 2007-2009. W) Tj ET Q q 0 0 0 rg BT 393.33 369.75 Td (e cannot let the recent growth of our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 357.75 Td (package business mask our underlying business model problems, and we are redoubling our ef) Tj ET Q q 0 0 0 rg BT 471.73 357.75 Td (forts to develop a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 345.75 Td (plan to ensure our viability to provide universal service to all of ) Tj ET Q q 0 0 0 rg BT 327.37 345.75 Td (America.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 321.75 Td (Third) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 75.00 321.75 Td ( Quarter) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 113.90 321.75 Td ( Fiscal ) Tj ET Q BT /F4 10.00 Tf ET q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 147.80 321.75 Td (2020) Tj ET Q BT /F4 10.00 Tf ET q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 170.05 321.75 Td ( Operating Revenue and V) Tj ET Q q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 293.78 321.75 Td (olume by Service Category Compared to Prior ) Tj ET Q q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 515.33 321.75 Td (Y) Tj ET Q q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 521.45 321.75 Td (ear) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 50.00 309.75 Td (The following table presents revenue and volume by category for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.29 309.75 Td (three months ended June 30, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.41 309.75 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.43 309.75 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.67 309.75 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 299.25 m 50.5 295.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 299.25 m 54.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 299.25 m 314.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 299.25 m 372.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 299.25 m 376.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 299.25 m 434.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 299.25 m 438.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 299.25 m 496.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 299.25 m 500.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 299.25 m 558.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 299.25 m 562.5 295.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 299.25 m 562.5 299.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 295.25 m 50.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 281.25 m 372.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 281.25 m 376.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 281.25 m 434.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 281.25 m 496.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 281.25 m 500.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 281.25 m 558.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 295.25 m 562.5 281.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 281.25 m 50.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 267.25 m 372.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 267.25 m 434.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 267.25 m 496.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 267.25 m 558.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 281.25 m 562.5 267.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 267.25 m 50.5 263.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 267.25 m 562.5 263.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 263.25 m 50.5 249.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 263.25 m 562.5 249.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 249.25 m 50.5 235.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 249.25 m 562.5 235.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 235.25 m 50.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 235.25 m 562.5 221.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 221.25 m 50.5 207.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 221.25 m 562.5 207.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 207.25 m 50.5 193.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 207.25 m 562.5 193.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 193.25 m 50.5 179.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 193.25 m 562.5 179.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 179.25 m 50.5 165.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 179.25 m 562.5 165.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 165.25 m 50.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 161.25 m 372.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 161.25 m 434.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 161.25 m 496.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 161.25 m 558.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 165.25 m 562.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 161.25 m 50.5 147.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 161.25 m 372.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 148.25 m 372.5 148.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 146.25 m 372.5 146.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 161.25 m 434.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 148.25 m 434.5 148.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 146.25 m 434.5 146.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 161.25 m 496.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 148.25 m 496.5 148.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 146.25 m 496.5 146.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 161.25 m 558.5 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 148.25 m 558.5 148.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 146.25 m 558.5 146.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 161.25 m 562.5 147.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 147.25 m 50.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 143.25 m 54.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 143.25 m 314.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 143.25 m 372.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 143.25 m 376.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 143.25 m 434.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 143.25 m 438.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 143.25 m 496.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 143.25 m 500.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 143.25 m 558.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 147.25 m 562.5 143.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 143.25 m 562.5 143.25 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 353.15 285.47 Td (Revenue) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 480.30 285.47 Td (V) Tj ET Q q 0 0 0 rg BT 486.60 285.47 Td (olume) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 57.00 271.43 Td (\(revenue in $ millions; volume in millions of pieces\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 331.85 271.47 Td (2020) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 393.85 271.47 Td (2019) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 455.85 271.47 Td (2020) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 517.85 271.47 Td (2019) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 57.00 253.47 Td (Service Category) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 239.47 Td (First-Class Mail) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.00 239.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.60 239.47 Td (5,481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 239.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.60 239.47 Td (5,854) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.05 239.47 Td (12,007) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.05 239.47 Td (13,101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 225.47 Td (Marketing Mail) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.60 225.47 Td (2,427) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.60 225.47 Td (3,862) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.05 225.47 Td (1) Tj ET Q q 0 0 0 rg BT 467.61 225.47 Td (1,240) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.05 225.47 Td (17,673) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 211.47 Td (Shipping and Packages) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.60 211.47 Td (8,31) Tj ET Q q 0 0 0 rg BT 363.06 211.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.60 211.47 Td (5,412) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.60 211.47 Td (2,128) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.60 211.47 Td (1,420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 197.47 Td (International) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.95 197.47 Td (490) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.95 197.47 Td (604) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.95 197.47 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.95 197.47 Td (202) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 183.47 Td (Periodicals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.95 183.47 Td (244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.95 183.47 Td (302) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.95 183.47 Td (980) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.60 183.47 Td (1,183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 169.47 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.95 169.47 Td (686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.60 169.47 Td (1,052) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 169.47 Td (75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.50 169.47 Td (85) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 57.00 151.47 Td (T) Tj ET Q q 0 0 0 rg BT 62.37 151.47 Td (otal operating revenue and volume) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 317.00 151.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 338.05 151.47 Td (17,639) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 379.00 151.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 400.05 151.47 Td (17,086) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 462.05 151.47 Td (26,570) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 524.05 151.47 Td (33,664) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 50.00 117.75 Td (Selected ) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 93.91 117.75 Td (Third) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 118.91 117.75 Td ( Quarter) Tj ET Q BT /F4 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 157.81 117.75 Td ( Fiscal ) Tj ET Q BT /F4 10.00 Tf ET q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 191.71 117.75 Td (2020) Tj ET Q BT /F4 10.00 Tf ET q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 213.96 117.75 Td ( Results of Operations and Controllable Loss) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 50.00 105.75 Td (This news release references ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.39 105.75 Td (controllable loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.10 105.75 Td (, which is not calculated and presented in accordance with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 93.75 Td (accounting principles generally accepted in the United States \(GAAP\). Controllable loss is defined as net loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 81.75 Td (adjusted for items outside of management) Tj ET Q q 0 0 0 rg BT 238.26 81.75 Td (s control and non-recurring items. ) Tj ET Q q 0 0 0 rg BT 389.81 81.75 Td (These adjustments include workers) Tj ET Q q 0 0 0 rg BT 548.40 81.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 69.75 Td (compensation expenses caused by actuarial revaluation and discount rate changes, and the amortization of Postal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 57.75 Td (Service Retiree Health Benefits Fund \(PSRHBF\), Civil Service Retirement System \(CSRS\) and Federal Employee ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 45.75 Td (Retirement System \(FERS\) unfunded liabilities. ) Tj ET Q endstream endobj 7 0 obj <>>>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 729.75 Td (The following table presents selected results of operations, reconciles GAAP) Tj ET Q q 0 0 0 rg BT 388.33 729.75 Td ( net loss to controllable loss and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 717.75 Td (illustrates the loss from ongoing business activities without the impact of non-controllable items for the three months ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 705.75 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.59 705.75 Td (June30, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.97 705.75 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.99 705.75 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.24 705.75 Td (:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 695.25 m 49.5 691.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 695.25 m 53.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 695.25 m 437.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 695.25 m 495.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 695.25 m 499.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 695.25 m 557.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 695.25 m 561.5 691.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 557.5 695.25 m 561.5 695.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 691.25 m 49.5 677.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 677.25 m 495.5 677.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 677.25 m 557.5 677.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 691.25 m 561.5 677.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 677.25 m 49.5 673.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 677.25 m 561.5 673.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 673.25 m 49.5 659.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 673.25 m 561.5 659.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 659.25 m 49.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 645.25 m 495.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 645.25 m 557.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 659.25 m 561.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 645.25 m 49.5 631.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 645.25 m 495.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 631.25 m 495.5 631.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 645.25 m 557.5 645.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 631.25 m 557.5 631.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 645.25 m 561.5 631.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 631.25 m 49.5 627.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 631.25 m 561.5 627.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 627.25 m 49.5 613.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 613.25 m 495.5 613.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 613.25 m 557.5 613.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 627.25 m 561.5 613.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 613.25 m 49.5 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 613.25 m 561.5 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 609.25 m 49.5 595.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 609.25 m 561.5 595.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 595.25 m 49.5 591.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 595.25 m 561.5 591.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 591.25 m 49.5 577.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 591.25 m 495.5 591.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 578.25 m 495.5 578.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 576.25 m 495.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 591.25 m 557.5 591.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 578.25 m 557.5 578.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 576.25 m 557.5 576.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 591.25 m 561.5 577.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 577.25 m 49.5 573.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 577.25 m 561.5 573.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 573.25 m 49.5 559.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 573.25 m 561.5 559.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 559.25 m 49.5 537.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 559.25 m 561.5 537.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 537.25 m 49.5 522.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 537.25 m 561.5 522.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 522.25 m 49.5 507.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 522.25 m 561.5 507.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 507.25 m 49.5 492.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 507.25 m 561.5 492.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 492.25 m 49.5 467.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 492.25 m 561.5 467.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 467.25 m 49.5 463.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 467.25 m 561.5 463.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 463.25 m 49.5 449.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 463.25 m 495.5 463.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 450.25 m 495.5 450.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 448.25 m 495.5 448.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 463.25 m 557.5 463.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 450.25 m 557.5 450.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 448.25 m 557.5 448.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 463.25 m 561.5 449.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 449.25 m 49.5 445.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 449.25 m 561.5 445.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 445.25 m 49.5 416.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 445.25 m 561.5 416.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 416.25 m 49.5 405.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 416.25 m 561.5 405.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 405.25 m 49.5 378.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 405.25 m 561.5 378.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 378.25 m 49.5 351.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 378.25 m 561.5 351.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 351.25 m 49.5 324.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 351.25 m 561.5 324.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 324.25 m 49.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 320.25 m 53.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 53.5 320.25 m 437.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 320.25 m 495.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 320.25 m 499.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 320.25 m 557.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 324.25 m 561.5 320.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 557.5 320.25 m 561.5 320.25 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 56.00 681.43 Td (\(results in $ millions\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 454.85 681.47 Td (2020) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 516.85 681.47 Td (2019) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 56.00 663.47 Td (Operating revenue) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 440.00 663.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 461.05 663.47 Td (17,639) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 502.00 663.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 523.05 663.47 Td (17,086) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 649.47 Td (Other revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.05 649.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.05 649.47 Td (7) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 56.00 635.47 Td (T) Tj ET Q q 0 0 0 rg BT 61.74 635.47 Td (otal revenue) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 440.00 635.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 461.05 635.47 Td (17,640) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 502.00 635.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 523.05 635.47 Td (17,093) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 56.00 617.47 Td (T) Tj ET Q q 0 0 0 rg BT 61.37 617.47 Td (otal operating expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 440.00 617.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 461.05 617.47 Td (19,810) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 502.00 617.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 523.05 617.47 Td (19,333) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 599.47 Td (Interest and investment income \(expense\), net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 599.47 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 599.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 599.47 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 599.47 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 56.00 581.47 Td (Net loss) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 440.00 581.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 463.25 581.47 Td (\(2,210) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 491.65 581.47 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 502.00 581.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 525.25 581.47 Td (\(2,256) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 553.65 581.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 563.47 Td (PSRHBF unfunded liability amortization expense) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 277.67 568.24 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.95 563.47 Td (158) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.50 563.47 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 549.47 Td (Change in workers) Tj ET Q q 0 0 0 rg BT 147.22 549.47 Td ( compensation liability resulting from fluctuations in discount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 539.52 Td (rates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 541.87 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 541.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.95 541.87 Td (697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 526.87 Td (Other change in workers) Tj ET Q q 0 0 0 rg BT 172.79 526.87 Td ( compensation liability) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 270.62 531.64 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 526.87 Td (\(95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 526.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.05 526.87 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 511.87 Td (CSRS unfunded liability amortization expense) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 264.89 516.64 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.95 511.87 Td (450) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.95 511.87 Td (360) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 496.87 Td (FERS unfunded liability amortization expense) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 263.78 501.64 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.95 496.87 Td (321) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.95 496.87 Td (239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 481.87 Td (Change in normal cost of retiree health benefits due to revised actuarial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.00 471.87 Td (assumptions) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 118.14 476.64 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.60 471.87 Td (\(1) Tj ET Q q 0 0 0 rg BT 480.49 471.87 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.65 471.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.60 471.87 Td (\(168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 471.87 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 56.00 453.47 Td (Controllable loss) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 440.00 453.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 463.25 453.47 Td (\(1,544) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 491.65 453.47 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 502.00 453.47 Td ($) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 525.25 453.47 Td (\(1,077) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 553.65 453.47 Td (\)) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 56.00 440.29 Td (1 ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.34 436.48 Td (Expense for the annual payment due to OPM by September 30 of the respective year) Tj ET Q q 0 0 0 rg BT 361.85 436.48 Td (, as calculated by OPM, to amortize the unfunded ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 428.48 Td (PSRHBF retirement health benefit obligation. 2020 and 2019 amounts are based on OPM) Tj ET Q q 0 0 0 rg BT 379.66 428.48 Td (s invoices for the respective years, each ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 420.48 Td (reflecting updated discount rate assumptions. Payments are to be made through 2056 based on OPM invoices.) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 56.00 411.74 Td (2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.89 407.93 Td ( Net amounts include changes in assumptions, valuation of new claims and revaluation of existing claims, less current year claim payments.) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 56.00 400.74 Td (3 ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.34 396.93 Td (Expense for the annual payment due to OPM by September 30 of the respective fiscal year) Tj ET Q q 0 0 0 rg BT 382.30 396.93 Td (, to amortize the unfunded CSRS retirement ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 388.93 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 99.05 388.93 Td (The 2020 amounts are based on updated Postal Service estimates resulting from revised actuarial assumptions. Payments are ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 380.93 Td (to be made through 2043 based on OPM invoices.) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 56.00 373.74 Td (4 ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.34 369.93 Td (Expense for the annual payment due to OPM by September 30 of the respective fiscal year) Tj ET Q q 0 0 0 rg BT 382.30 369.93 Td (, to amortize the unfunded FERS retirement ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 361.93 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 99.05 361.93 Td (The 2020 amounts are based on updated Postal Service estimates resulting from revised actuarial assumptions. Payments are ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 353.93 Td (to be made over a 30-year rolling period based on OPM invoices.) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 56.00 346.74 Td (5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.89 342.93 Td ( Represents the accrual for the portion of the increase in the annual normal cost payments due September 30, 2020, and 2019, attributable ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 334.93 Td (to revised actuarial assumptions and discount rate changes, based on OPM) Tj ET Q q 0 0 0 rg BT 330.29 334.93 Td (s invoices for the respective year) Tj ET Q q 0 0 0 rg BT 446.34 334.93 Td (. ) Tj ET Q q 0 0 0 rg BT 450.64 334.93 Td (This amount represents the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 60.50 326.93 Td (noncontrollable portion of the expense recorded for normal cost of retiree health benefits.) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12549019607843137 0.12549019607843137 0.12549019607843137 rg BT 50.00 296.75 Td (Financial results in the Form 10-Q are available at ) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.73 w 0 i [] 0 d 1 J 1 j 3 M 273.9892578125 295.32421875 m 440.7470703125 295.32421875 l s q 0 0 1 rg BT 273.99 296.75 Td (http://about.usps.com/what/financials/) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 440.75 296.75 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 274.75 Td (Forward-Looking Statements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 262.75 Td (Forward-looking statements contained in this release represent the Postal Service's best estimates of known and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.75 Td (anticipated trends believed relevant to future operations. However) Tj ET Q q 0 0 0 rg BT 340.73 250.75 Td (, actual results may dif) Tj ET Q q 0 0 0 rg BT 440.03 250.75 Td (fer significantly from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 238.75 Td (current estimates. Certain forward-looking statements included in this release use such words as may) Tj ET Q q 0 0 0 rg BT 501.68 238.75 Td (, will, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.75 Td (could, expect, believe, plan, estimate, project or other similar terminology) Tj ET Q q 0 0 0 rg BT 412.15 226.75 Td (. ) Tj ET Q q 0 0 0 rg BT 417.52 226.75 Td (These forward-looking ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 214.75 Td (statements, which involve a number of risks and uncertainties, reflect current expectations regarding future events ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 202.75 Td (and operating performance as of the date of this report. ) Tj ET Q q 0 0 0 rg BT 297.19 202.75 Td (These risks include, but are not limited to, the ef) Tj ET Q q 0 0 0 rg BT 509.34 202.75 Td (fects of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 190.75 Td (COVID-19 on the Postal Service's business, financial condition and results of operations. ) Tj ET Q q 0 0 0 rg BT 445.27 190.75 Td (The Postal Service has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 178.75 Td (no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 166.75 Td (future events or otherwise.) 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