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2012-13 Financial Statement Highlights

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

bar chart: Total Net Assets

Consolidated Balance Sheets as of June 30, 2013 and 2012

($ in thousands)20132012
Assets
Cash and cash equivalents$  486,821$  326,227
Operating investments, at market179,109209,016
Accounts receivable, net299,683325,773
Inventories, prepaid expenses and deferred charges58,99352,816
Contributions receivable, net91,55790,927
Notes receivable, net48,52548,163
Other assets14,35511,936
Investments held for long-term purposes1,931,192,822,954
Property, plant and equipment, net1,729,7701,561,957
Interest in net assets of foundation14,64712,330
Investments in perpetual trusts held by others51,26046,877
Total Assets$4,905,932$4,509,160
 
Liabilities and Net Assets
Liabilities: 
   Accounts payable and accrued expenses$  408,232  388,337
   Advance receipt of sponsored research revenues19,44023,472
   Deferred revenue62,62350,775
   Third-party settlements payable, net116,623100,989
   Accrued pension, post-retirement, post-employment obligations375,907386,472
   Long-term debt910,684874,209
   Asset retirement obligation22,87619,016
   Refundable U.S. Government grants for student loans16,38616,223
Total Liabilities1,932,7711,859,493
Net assets:  
   Unrestricted1,976,5741,745,673
   Temporarily restricted584,307509,533
   Permanently restricted412,280394,461
Total Net Assets2,973,1612,649,667
   Total Liabilities and Net Assets$  4,905,932$  4,509,160

Page updated 03/14/2014
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