Consolidated Statements of Changes in Unrestricted Net Assets
(in thousands)
| YEARS ENDED JUNE 30 | ||
|---|---|---|
| 2012 | 2011 | |
| Operating Revenues and Other Additions | ||
| Tuition and fees | $479,721 | $439,074 |
| Less: Tuition scholarships and fellowships | (210,020) | (174,078) |
| Net tuition and fees | 269,701 | 264,996 |
| Grants and contracts (Note 18) | 110,738 | 103,731 |
| Contributions | 34,642 | 29,725 |
| Accumulated investment return distributed (Note 6) | 94,232 | 87,895 |
| Sales and services of auxiliary enterprises | 200,562 | 195,223 |
| Other sources | 39,245 | 36,408 |
| Total operating revenues | 749,120 | 717,978 |
| Net assets released from restrictions (Note 14) | 186,470 | 166,109 |
| Total operating revenues and other additions | 935,590 | 884,087 |
| Operating Expenses | ||
| Instruction | 332,299 | 318,919 |
| Research | 115,840 | 104,707 |
| Public service | 32,229 | 19,299 |
| Academic support | 57,619 | 55,404 |
| Student activities and services | 38,151 | 36,841 |
| General administration and support | 185,021 | 181,757 |
| Auxiliary enterprises | 181,832 | 168,714 |
| Total operating expenses | 942,991 | 885,641 |
| Decrease in unrestricted net assets from operations | (7,401) | (1,554) |
| Non-Operating Changes in Unrestricted net Assets | ||
| Contributions | 3,158 | 4,906 |
| Investment income (Note 6) | 33,594 | 36,911 |
| Net gain on investments (Note 6) | 63,481 | 543,749 |
| Accumulated investment return distributed (Note 6) | (94,232) | (87,895) |
| Net gain/(loss) on debt-related derivative instruments (Note 12) | (34,406) | 2,046 |
| Net assets released from restrictions (Note 14) | 41,619 | 42,314 |
| Net pension and postretirement benefits-related changes other than net periodic benefits costs (Note 13) | (47,936) | 62,128 |
| Other non-operating changes | 8,501 | 1,704 |
| Increase/(decrease) in unrestricted net assets from non-operating activities | (26,221) | 605,863 |
| Increase/(decrease) in unrestricted net assets | $ (33,622) | $604,309 |
See accompanying notes to consolidated financial statements.