Balance Sheet Highlights
- Total net assets reflect very little change at $3 billion.
- Investments Held for Long-Term Purposes increased $108.2 million to $1.9 billion. The total market value of the endowment at year end was $1.7 billion, reflecting a return of 12% and endowment use.
- Property, Plant and Equipment increased $167.8 million to almost $2 billion.
- Unrestricted net assets increased by $230.9 million.
- Long-term debt increased from $874.2 million to $910.7 million due to primarily to the addition of F.F. Thompson Health System. Subsequent to year end, the University issued $264.5 million of tax-exempt and taxable bonds.
Total Net Assets
Consolidated Balance Sheets as of June 30, 2013 and 2012
|($ in thousands)||2013||2012|
|Cash and cash equivalents||$ 486,821||$ 326,227|
|Operating investments, at market||179,109||209,016|
|Accounts receivable, net||299,683||325,773|
|Inventories, prepaid expenses and deferred charges||58,993||52,816|
|Contributions receivable, net||91,557||90,927|
|Notes receivable, net||48,525||48,163|
|Investments held for long-term purposes||1,931,192||,822,954|
|Property, plant and equipment, net||1,729,770||1,561,957|
|Interest in net assets of foundation||14,647||12,330|
|Investments in perpetual trusts held by others||51,260||46,877|
|Liabilities and Net Assets|
| Accounts payable and accrued expenses||$ 408,232|| 388,337|
| Advance receipt of sponsored research revenues||19,440||23,472|
| Deferred revenue||62,623||50,775|
| Third-party settlements payable, net||116,623||100,989|
| Accrued pension, post-retirement, post-employment obligations||375,907||386,472|
| Long-term debt||910,684||874,209|
| Asset retirement obligation||22,876||19,016|
| Refundable U.S. Government grants for student loans||16,386||16,223|
|Net assets:|| || |
| Temporarily restricted||584,307||509,533|
| Permanently restricted||412,280||394,461|
|Total Net Assets||2,973,161||2,649,667|
| Total Liabilities and Net Assets||$ 4,905,932||$ 4,509,160|
Page updated 03/14/2014
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