Balance Sheet Highlights
- Total net assets increased $382.8 million to $3.4 billion.
- Investments Held for Long-Term Purposes increased $382.0 million to $2.3 billion. The total market value of the endowment at year end was $2.0 billion, reflecting a return of 18.7% and endowment use.
- Property, Plant and Equipment increased $84.9 million to $1.8 billion.
- Unrestricted net assets increased by $212.1 million.
- Long-term debt increased from $910.7 million to $1.13 billion due primarily to the University’s series 2013 bond issue, $264.5 million of tax-exempt and taxable bonds.
Total Net Assets
Consolidated Balance Sheets as of June 30, 2014 and 2013
|($ in thousands)||2014||2013|
|Cash and cash equivalents||$ 467,619||$ 486,821|
|Operating investments, at market|| 308,741|| 176,422 |
|Accounts receivable, net|| 333,036 ||299,683|
|Inventories, prepaid expenses and deferred charges||64,216 ||58,993|
|Contributions receivable, net||92,498||91,557|
|Notes receivable, net||48,730||48,525|
|Investments held for long-term purposes||2,315,847||1,933,879|
|Property, plant and equipment, net||1,814,641||1,729,770|
|Interest in net assets of foundation||17,749||14,647|
|Investments in perpetual trusts held by others||57,526||51,260|
|Liabilities and Net Assets|
| Accounts payable and accrued expenses||$ 399,286|| 408,232|
| Advance receipt of sponsored research revenues||24,927 ||19,440|
| Deferred revenue||62,136||62,623|
| Third-party settlements payable, net||122,623 ||116,623|
| Accrued pension, post-retirement, post-employment obligations||402,166||375,907|
| Long-term debt||1,126,265||910,684|
| Asset retirement obligation||27,241||22,876|
| Refundable U.S. Government grants for student loans||16,187||16,386|
|Net assets:|| || |
| Temporarily restricted||703,531||584,307|
| Permanently restricted||463,790||412,280|
|Total Net Assets||3,355,979||2,973,161|
| Total Liabilities and Net Assets||$ 5,536,810||$ 4,905,932|
Page updated 08/07/2015
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