F
I
N
A
N
C
I
A
L
S
T
A
T
E
M
E
N
T
S*
|
|
Statements of Changes in Capital
For the Years Ended December 31, 1998 and December 31, 1997
(in millions)
| |
|
|
Capital
Paid-in
|
Surplus
|
Total
Capital
|
| |
|
|
|
|
|
|
Balance at January 1, 1997 (18 million shares)
|
$ 880
|
$ 865
|
$ 1,745
|
| |
Net income transferred to surplus
|
-
|
100
|
100
|
| |
Statutory surplus transfers to the U.S. Treasury
|
-
|
(20)
|
(20)
|
| |
Net change in capital stock issued (2 million shares)
|
100
|
-
|
100
|
| |
|
|
|
|
|
Balance at December 31, 1997 (20 million shares)
|
980
|
945
|
1,925
|
| |
Net income transferred to surplus
|
-
|
27
|
27
|
| |
Net change in capital stock redeemed
|
-
|
-
|
-
|
| |
|
(.162 million shares)
|
(8)
|
-
|
(8)
|
|
Balance at December 31, 1998 (19 million shares)
|
$ 972
|
$ 972
|
$ 1,944
|
The accompanying notes are an integral
part of these financial statements.
|
