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2014-15 Financial Statement Highlights

Balance Sheet Highlights

  • Total net assets increased $52 million.
  • Investments Held for Long-Term Purposes increased $130 million to $2.4 billion. The total market value of the endowment at year end was $2.1 billion, reflecting a return of 4.3%.
  • Property, Plant and Equipment increased $85.2 million to $1.9 billion.
  • Unrestricted net assets increased by $2.9 million.
  • Long-term debt increased to $1.2 billion.
bar chart: Total Net Assets

Consolidated Balance Sheets as of June 30, 2015 and 2014

($ in thousands)20142013
Cash and cash equivalents$  450,595$  467,619
Operating investments, at market 317,703 308,741
Accounts receivable, net 311,114 333,036
Inventories, prepaid expenses and deferred charges71,200 64,216
Contributions receivable, net100,82792,498
Notes receivable, net49,99448,730
Other assets25,31716,207
Investments held for long-term purposes2,445,7772,315,847
Property, plant and equipment, net1,899,8491,814,641
Interest in net assets of foundation17,56717,749
Investments in perpetual trusts held by others56,23357,526
Total Assets$5,746,176$5,536,810
Liabilities and Net Assets
   Accounts payable and accrued expenses$  425,413  399,286
   Advance receipt of sponsored research revenues12,390 24,927
   Deferred revenue62,32362,136/td>
   Third-party settlements payable, net138,116 122,623
   Accrued pension, post-retirement, post-employment obligations445,645402,166
   Long-term debt1,216,6321,126,265
   Asset retirement obligation27,68027,241
   Refundable U.S. Government grants for student loans16,32116,187
Total Liabilities2,344,5202,180,831
Net assets:  
   Temporarily restricted705,512703,531
   Permanently restricted504,550463,790
Total Net Assets3,401,6563,355,979
   Total Liabilities and Net Assets$  5,746,176$  5,536,810

Page updated 12/14/2015
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