Year Ended September 30,

(dollars in millions)

2000

1999

1998

	Operating revenue—Note 7	$ 64,540	$ 62,726	$ 60,072
	Operating expenses:
	Compensation and benefits—Notes 2, 3 and 6	49,532	47,333	45,596
	Transportation	4,709	4,267	4,207
	Other	8,751	9,042	7,983
	Total operating expenses	62,992	60,642	57,786
	Income from operations	1,548	2,084	2,286
	Interest and investment income	41	29	44
	Interest expense on deferred retirement liabilities—Note 6	(1,568)	(1,592)	(1,613)
	Interest expense on borrowings	(220)	(158)	(167)
	Net (Loss) Income	$    (199)	$      363	$      550

See accompanying notes to financial statements.

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