Consolidated Statements of Changes in Unrestricted Net Assets
(In Thousands)
| YEARS ENDED JUNE 30 | ||
|---|---|---|
| 2013 | 2012 | |
| Operating Revenues and Other Additions | ||
| Tuition and fees | $504,325 | $479,721 |
| Less: Tuition scholarships and fellowships | (226,857) | (210,020) |
| Net tuition and fees | 277,468 | 269,701 |
| Grants and contracts (Note 18) | 105,260 | 110,738 |
| Contributions | 38,547 | 34,642 |
| Accumulated investment return distributed (Note 6) | 95,751 | 94,232 |
| Sales and services of auxiliary enterprises | 214,322 | 200,562 |
| Other sources | 45,741 | 39,245 |
| Total operating revenues | 777,089 | 749,120 |
| Net assets released from restrictions (Note 14) | 196,519 | 186,470 |
| Total operating revenues and other additions | 973,608 | 935,590 |
| Operating Expenses | ||
| Instruction | 341,958 | 332,299 |
| Research | 117,369 | 115,840 |
| Public service | 22,180 | 32,229 |
| Academic support | 56,826 | 57,619 |
| Student activities and services | 39,442 | 38,151 |
| General administration and support | 187,060 | 185,021 |
| Auxiliary enterprises | 194,432 | 181,832 |
| Total operating expenses | 959,267 | 942,991 |
| Increase/(decrease) in unrestricted net assets from operations | 14,341 | (7,401) |
| Non-Operating Changes in Unrestricted net Assets | ||
| Contributions | 9,059 | 3,158 |
| Investment income (Note 6) | 35,730 | 33,594 |
| Net gain on investments (Note 6) | 338,035 | 63,481 |
| Accumulated investment return distributed (Note 6) | (95,751) | (94,232) |
| Net gain/(loss) on debt-related derivative instruments (Note 12) | 14,756 | (34,406) |
| Net assets released from restrictions (Note 14) | 40,861 | 41,619 |
| Net pension and postretirement benefits-related changes other than net periodic benefits costs (Note 13) | 23,639 | (47,936) |
| Other non-operating changes | 1,618 | 8,501 |
| Increase/(decrease) in unrestricted net assets from non-operating activities | 367,947 | (26,221) |
| Increase/(decrease) in unrestricted net assets | $382,288 | $ (33,622) |
See accompanying notes to consolidated financial statements.