Consolidated Statements of Changes in Net Assets
(In Thousands)
| YEARS ENDED JUNE 30 | ||
|---|---|---|
| 2013 | 2012 | |
| Unrestricted Net Assets | ||
| Operating revenues and other additions | $973,608 | $935,590 |
| Operating expenses | (959,267) | (942,991) |
| Increase/(decrease) in unrestricted net assets from operations | 14,341 | (7,401) |
| Increase/(decrease) in unrestricted net assets from non-operating activities. | 367,947 | (26,221) |
| Increase/(decrease) in unrestricted net assets | 382,288 | (33,622) |
| Temporarily Restricted Net Assets | ||
| Contributions | 108,240 | 48,818 |
| Investment income (Note 6) | 40,552 | 37,976 |
| Net gain on investments (Note 6) | 397,637 | 64,888 |
| Change in value of split-interest agreements (Note 17) | 3,258 | (440) |
| Net assets released from restrictions (Note 14) | (237,380) | (228,089) |
| Other changes in temporarily restricted net assets | 1,697 | (1,317) |
| Increase/(decrease) in temporarily restricted net assets | 314,004 | (78,164) |
| Permanently Restricted Net Assets | ||
| Contributions | 66,759 | 62,695 |
| Investment income (Note 6) | 1,571 | 1,670 |
| Net loss on investments (Note 6) | (6) | (670) |
| Change in value of split-interest agreements (Note 17) | 668 | (388) |
| Other changes in permanently restricted net assets | (570) | (3,003) |
| Increase in permanently restricted net assets | 68,422 | 60,304 |
| Increase/(decrease) in net assets | 764,714 | (51,482) |
| Net assets at beginning of year | 7,531,421 | 7,582,903 |
| Net assets at end of year | $8,296,135 | $7,531,421 |
See accompanying notes to consolidated financial statements.