2013 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL DATA AND
PROJECTIONS THROUGH 2022

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2012 operations of the OASI, DI, and the combined OASI and DI Trust Funds, respectively. Fiscal year 2012 is the most recent fiscal year for which complete information is available. These tables are similar to the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and outgo.

 

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2012

[In millions]

Total asset reserves, September 30, 2011					$2,491,654
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions		$501,960
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-1,299
			Net payroll tax contributions		500,661
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96		95,788
		Reduction in payroll tax contributions due to P.L. 111-147		133
		Reimbursements directed by P.L. 110-246		6
		Reimbursement for the costs of payments to uninsured persons who attained age 72 before 1968		a
		Payroll tax credits due to P.L. 98-21		a
			Net general fund reimbursements		95,927
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		166
		All other, not subject to withholding		26,984
			Total income from taxation of benefits		27,150
	Investment income and interest adjustments:
		Interest on investments		105,238
		Net Interest adjustments b		5
			Net investment income and interest adjustments		105,243
	Gifts				a
Total receipts					728,981
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death payments		627,264
		Reimbursement from the general fund for unnegotiated checks		-56
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		1
			Net benefit payments		627,208
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,139
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,766
			Department of the Treasury	604
		Offsetting receipts from sales of supplies, materials, etc.		-9
		Miscellaneous reimbursements from the general fund c		-9
			Net administrative expenses		3,352
Total disbursements					634,700
Net increase in asset reserves					94,281
Total asset reserves, September 30, 2012					2,585,936

---

a

Between -$0.5 and $0.5 million.

b

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program; (2) interest arising from the revised allocation of administrative expenses among the trust funds; and (3) interest on certain reimbursements to the trust fund.

c

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.

Note: Totals do not necessarily equal the sums of rounded components.

 

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2012 

[In millions]

Total asset reserves, September 30, 2011					$161,682
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions		$85,293
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-221
			Net payroll tax contributions		85,072
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96		16,211
		Reduction in payroll tax contributions due to P.L. 111-147		22
		Reimbursements directed by P.L. 110-246		1
		Payroll tax credits due to P.L. 98-21		a
			Net general fund reimbursements		16,234
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholding		379
			Total income from taxation of benefits		383
	Investment income and interest adjustments:
		Interest on investments		7,153
		Interest adjustmentsb		3
			Total investment income and interest adjustments		7,156
Total receipts					108,845
Disbursements:
	Benefit payments:
		Monthly benefits		135,097
		Reimbursement from the general fund for unnegotiated checks		-30
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		47
			Net benefit payments		135,114
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				512
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,781
			Department of the Treasury	115
		Offsetting receipts from sales of supplies, materials, etc.		-1
		Demonstration projects		29
		Miscellaneous reimbursements from the general fund c		-4
			Total administrative expenses		2,920
Total disbursements					138,546
Net increase in asset reserves					-29,701
Total asset reserves, September 30, 2012					131,981

---

a

Between -$0.5 and $0.5 million.

b

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program; (2) interest arising from the revised allocation of administrative expenses among the trust funds; and (3) interest on certain reimbursements to the trust fund.

c

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.

Note: Totals do not necessarily equal the sums of rounded components.

 

Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2012 

[In millions]

Total asset reserves, September 30, 2011					$2,653,336
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions		$587,253
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-1,519
			Net payroll tax contributions		585,734
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96		111,999
		Reduction in payroll tax contributions due to P.L. 111-147		155
		Reimbursements directed by P.L. 110-246		7
		Reimbursement for the costs of payments to uninsured persons who attained age 72 before 1968		a
		Payroll tax credits due to P.L. 98-21		a
			Net general fund reimbursements		112,161
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		171
		All other, not subject to withholding		27,363
			Total income from taxation of benefits		27,534
	Investment income and interest adjustments:
		Interest on investments		112,391
		Net Interest adjustmentsb		8
			Net investment income and interest adjustments		112,398
	Gifts				a
Total receipts					837,827
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death payments		762,361
		Reimbursement from the general fund for unnegotiated checks		-86
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		48
			Net benefit payments		762,323
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,651
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	5,547
			Department of the Treasury	719
		Offsetting receipts from sales of supplies, materials, etc.		-10
		Demonstration projects		29
		Miscellaneous reimbursements from the general fundc		-12
			Net administrative expenses		6,273
Total disbursements					773,247
Net increase in asset reserves					64,580
Total asset reserves, September 30, 2012					2,717,916

---

a

Between -$0.5 and $0.5 million.

b

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust funds and the general fund account for the Supplemental Security Income program; (2) interest arising from the revised allocation of administrative expenses among the trust funds; and (3) interest on certain reimbursements to the trust funds.

c

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.

Note: Totals do not necessarily equal the sums of rounded components.

Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the combined OASI and DI Trust Funds, respectively, during fiscal years 2008-22. Since 1976, the fiscal year for the U.S. Government is the 12-month period ending September 30.

 

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2008-22

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- mentsa	Taxa- tion of benefits	Net interest		Total	Sched-uled bene-fits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio b
Historical data:
	2008	$692.9	$573.7	c	$16.4	$102.7		$509.9	$503.0	$3.3	$3.6		$183.0	$2,150.1	386
	2009	697.3	571.2	c	19.0	107.1		551.5	544.5	3.4	3.7		145.8	2,295.8	390
	2010	682.4	552.0	$0.7	21.1	108.6		579.9	572.5	3.5	3.9		102.5	2,398.4	396
	2011	692.5	495.0	68.9	21.2	107.4		599.2	591.5	3.6	4.1		93.3	2,491.7	400
	2012	729.0	500.7	95.9	27.2	105.2		634.7	627.2	3.4	4.1		94.3	2,585.9	393
Intermediate:
	2013	739.5	589.3	26.4	23.8	100.0		672.2	664.9	3.3	3.9		67.3	2,653.3	385
	2014	768.1	645.1	-.2	27.3	95.9		713.9	706.4	3.2	4.3		54.2	2,707.5	372
	2015	814.3	689.1	-.1	30.1	95.1		758.7	750.9	3.4	4.4		55.6	2,763.2	357
	2016	871.9	740.4	.1	33.3	98.0		809.1	801.3	3.5	4.2		62.8	2,826.0	342
	2017	924.9	785.6	.1	36.9	102.4		865.3	856.9	3.7	4.7		59.7	2,885.6	327
	2018	985.9	835.6	c	40.6	109.7		925.4	916.6	3.8	4.9		60.5	2,946.1	312
	2019	1,042.6	882.1	c	44.8	115.8		990.2	981.2	4.0	5.1		52.4	2,998.5	298
	2020	1,093.1	922.3	c	49.0	121.7		1,059.5	1,050.1	4.1	5.2		33.6	3,032.1	283
	2021	1,152.8	973.7	c	53.3	125.8		1,128.9	1,119.7	4.2	5.1		23.8	3,056.0	269
	2022	1,207.7	1,021.1	c	57.9	128.7		1,204.2	1,194.2	4.3	5.6		3.5	3,059.5	254
Low-cost:
	2013	742.3	592.0	26.4	23.8	100.1		672.0	664.7	3.3	3.9		70.4	2,656.3	385
	2014	792.6	667.9	-.2	27.3	97.5		712.2	704.7	3.2	4.2		80.4	2,736.7	373
	2015	840.3	713.0	-.1	29.9	97.5		753.1	745.3	3.4	4.4		87.2	2,823.9	363
	2016	901.2	768.1	.1	32.8	100.2		796.8	789.2	3.5	4.1		104.5	2,928.4	354
	2017	956.6	814.4	.1	36.0	106.1		845.0	836.7	3.7	4.6		111.6	3,040.0	347
	2018	1,013.4	861.1	c	39.3	112.9		895.4	887.0	3.8	4.7		117.9	3,157.9	339
	2019	1,066.8	904.1	c	42.9	119.8		948.8	940.1	3.9	4.8		118.0	3,275.9	333
	2020	1,115.7	941.5	c	46.5	127.6		1,005.5	996.5	4.0	4.9		110.2	3,386.1	326
	2021	1,176.3	991.3	c	50.1	134.9		1,061.4	1,052.7	4.1	4.7		114.9	3,501.0	319
	2022	1,232.7	1,037.1	c	53.9	141.7		1,121.8	1,112.5	4.2	5.1		110.9	3,611.9	312
High-cost:
	2013	736.5	586.3	26.4	23.8	100.0		672.4	665.1	3.3	3.9		64.2	2,650.1	385
	2014	742.0	620.6	-.3	27.4	94.2		715.5	708.0	3.2	4.3		26.4	2,676.5	370
	2015	780.1	658.2	-.1	30.3	91.6		764.2	756.3	3.4	4.5		15.9	2,692.4	350
	2016	826.7	700.3	.1	33.8	92.4		821.4	813.5	3.5	4.3		5.3	2,697.7	328
	2017	874.5	742.2	.1	37.8	94.5		885.2	876.6	3.7	4.9		-10.7	2,687.0	305
	2018	934.3	793.0	c	41.9	99.3		955.0	946.0	3.9	5.1		-20.7	2,666.3	281
	2019	992.3	843.7	c	46.6	102.0		1,031.7	1,022.3	4.1	5.3		-39.4	2,626.9	258
	2020	1,047.6	892.2	c	51.5	103.8		1,114.3	1,104.5	4.2	5.6		-66.7	2,560.2	236
	2021	1,109.5	950.4	c	56.6	102.5		1,198.1	1,188.3	4.4	5.4		-88.6	2,471.6	214
	2022	1,164.4	1,002.1	c	62.0	100.3		1,289.5	1,278.9	4.5	6.0		-125.0	2,346.6	192

---

a

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

b

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

c

Between -$50 million and $50 million.

Note: Totals do not necessarily equal the sums of rounded components.

 

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2008-22

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- mentsa	Taxa- tion of benefits	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio b
Historical data:
	2008	$109.8	$97.4	c	$1.4	$11.0		107.2	$104.2	$2.5	$0.4		$2.7	$216.2	199
	2009	109.7	97.0	c	1.8	10.8		118.1	115.1	2.6	.4		-8.5	207.8	183
	2010	105.5	93.7	$0.1	1.7	9.9		126.3	122.9	2.9	.5		-20.8	186.9	164
	2011	106.2	84.0	11.7	1.9	8.6		131.5	128.0	3.0	.5		-25.3	161.7	142
	2012	108.8	85.1	16.2	.4	7.2		138.5	135.1	2.9	.5		-29.7	132.0	117
Intermediate:
	2013	111.2	100.1	4.5	1.1	5.5		143.3	139.8	3.0	.4		-32.1	99.9	92
	2014	115.5	109.5	c	2.1	3.9		148.8	145.2	3.1	.4		-33.3	66.6	67
	2015	121.9	117.0	c	2.3	2.6		153.9	150.3	3.2	.4		-32.1	34.5	43
	2016	129.3	125.7	c	2.5	1.1		159.4	155.5	3.6	.4		-30.1	4.5	22
	2017	d	133.4	c	2.8	d		165.2	161.0	3.8	.3		d	d	3
	2018	d	141.9	c	3.0	d		171.2	166.8	4.1	.3		d	d	d
	2019	d	149.8	c	3.3	d		177.8	173.1	4.4	.2		d	d	d
	2020	d	156.6	c	3.6	d		184.8	180.0	4.6	.2		d	d	d
	2021	d	165.3	c	3.9	d		193.4	188.3	4.9	.2		d	d	d
	2022	d	173.4	c	4.2	d		202.9	197.6	5.2	.1		d	d	d
Low-cost:
	2013	111.6	100.5	4.5	1.1	5.5		141.9	138.4	3.0	.4		-30.2	101.7	93
	2014	119.5	113.4	c	2.0	4.1		145.0	141.4	3.1	.4		-25.5	76.3	70
	2015	126.3	121.1	c	2.2	3.1		147.3	143.6	3.2	.4		-20.9	55.3	52
	2016	135.1	130.4	c	2.4	2.3		149.6	145.7	3.6	.3		-14.5	40.8	37
	2017	142.4	138.3	c	2.5	1.6		152.3	148.1	3.8	.3		-9.9	31.0	27
	2018	150.1	146.2	c	2.7	1.2		155.2	150.9	4.1	.3		-5.1	25.9	20
	2019	157.4	153.5	c	2.9	1.0		158.5	154.0	4.3	.2		-1.1	24.8	16
	2020	164.0	159.9	c	3.1	1.0		162.2	157.5	4.5	.2		1.8	26.6	15
	2021	172.8	168.3	c	3.3	1.1		167.0	162.1	4.8	.1		5.7	32.3	16
	2022	181.1	176.1	c	3.6	1.4		172.5	167.3	5.0	.1		8.6	41.0	19
High-cost:
	2013	110.7	99.6	4.5	1.1	5.5		144.8	141.3	3.0	.4		-34.1	97.9	91
	2014	111.3	105.4	c	2.2	3.8		152.9	149.3	3.1	.4		-41.6	56.2	64
	2015	116.1	111.8	c	2.4	1.9		161.3	157.7	3.2	.4		-45.2	11.0	35
	2016	d	118.9	c	2.7	d		170.7	166.8	3.5	.4		d	d	6
	2017	d	126.0	c	3.0	d		180.1	175.9	3.8	.4		d	d	d
	2018	d	134.7	c	3.4	d		189.7	185.3	4.1	.3		d	d	d
	2019	d	143.3	c	3.7	d		199.8	195.1	4.4	.3		d	d	d
	2020	d	151.5	c	4.1	d		210.4	205.4	4.7	.2		d	d	d
	2021	d	161.4	c	4.5	d		222.5	217.3	5.0	.2		d	d	d
	2022	d	170.2	c	4.9	d		235.8	230.3	5.3	.2		d	d	d

---

a

Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (3) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (4) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

b

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

c

Between -$50 million and $50 million.

d

The DI Trust Fund reserves become depleted in fiscal years 2017 and 2016 under the intermediate and high-cost assumptions, respectively. Accordingly, certain trust fund operations values from the year of trust fund reserve depletion through 2022 are not meaningful under present law.

Note: Totals do not necessarily equal the sums of rounded components.

 

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2008-22 

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay-roll tax contri- butions	GF reim- burse- mentsa	Taxa- tion of benefits	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio b
Historical data:
	2008	$802.7	$671.2	c	$17.8	$113.7		$617.0	$607.2	$5.8	$4.0		$185.7	$2,366.3	353
	2009	807.0	668.2	c	20.8	118.0		669.7	659.6	6.0	4.1		137.3	2,503.6	353
	2010	788.0	645.8	$0.9	22.8	118.5		706.3	695.4	6.4	4.4		81.7	2,585.3	354
	2011	798.7	579.1	80.6	23.1	116.0		730.7	719.5	6.7	4.6		68.0	2,653.3	354
	2012	837.8	585.7	112.2	27.5	112.4		773.2	762.3	6.3	4.7		64.6	2,717.9	343
Intermediate:
	2013	850.7	689.3	30.9	24.9	105.5		815.5	804.8	6.4	4.3		35.2	2,753.1	333
	2014	883.7	754.6	-.3	29.4	99.9		862.7	851.6	6.4	4.7		21.0	2,774.1	319
	2015	936.2	806.1	-.1	32.4	97.7		912.6	901.1	6.6	4.9		23.6	2,797.7	304
	2016	1,001.2	866.2	.1	35.8	99.1		968.5	956.8	7.1	4.5		32.7	2,830.4	289
	2017	1,060.7	919.0	.1	39.7	102.0		1,030.5	1,017.9	7.5	5.0		30.3	2,860.7	275
	2018	1,128.9	977.5	c	43.7	107.7		1,096.6	1,083.5	8.0	5.2		32.3	2,893.0	261
	2019	1,192.1	1,031.9	c	48.0	112.2		1,168.0	1,154.3	8.3	5.3		24.2	2,917.1	248
	2020	1,248.1	1,078.9	c	52.6	116.6		1,244.3	1,230.1	8.7	5.4		3.8	2,920.9	234
	2021	1,315.1	1,139.0	c	57.2	118.9		1,322.3	1,308.0	9.1	5.2		-7.2	2,913.8	221
	2022	1,376.6	1,194.5	c	62.1	120.0		1,407.0	1,391.8	9.5	5.7		-30.4	2,883.4	207
Low-cost:
	2013	854.0	692.5	30.9	24.9	105.6		813.8	803.1	6.4	4.3		40.1	2,758.0	334
	2014	912.1	781.4	-.2	29.3	101.6		857.1	846.1	6.4	4.7		55.0	2,813.0	322
	2015	966.6	834.0	-.1	32.1	100.6		900.4	889.0	6.6	4.8		66.3	2,879.3	312
	2016	1,036.3	898.6	.1	35.1	102.5		946.4	934.9	7.1	4.4		89.9	2,969.2	304
	2017	1,099.0	952.6	.1	38.6	107.7		997.2	984.9	7.5	4.9		101.7	3,070.9	298
	2018	1,163.5	1,007.3	c	42.1	114.1		1,050.7	1,037.9	7.8	5.0		112.8	3,183.8	292
	2019	1,224.3	1,057.7	c	45.8	120.8		1,107.3	1,094.1	8.2	5.1		116.9	3,300.7	288
	2020	1,279.6	1,101.4	c	49.6	128.6		1,167.6	1,154.0	8.5	5.1		112.0	3,412.7	283
	2021	1,349.1	1,159.6	c	53.5	136.1		1,228.5	1,214.8	8.8	4.8		120.6	3,533.3	278
	2022	1,413.8	1,213.2	c	57.5	143.1		1,294.3	1,279.8	9.2	5.3		119.5	3,652.9	273
High-cost:
	2013	847.2	685.9	30.9	24.9	105.5		817.2	806.5	6.4	4.3		30.0	2,748.0	333
	2014	853.2	726.0	-.3	29.6	98.0		868.4	857.3	6.4	4.7		-15.2	2,732.7	316
	2015	896.2	770.0	-.1	32.7	93.6		925.6	914.0	6.6	4.9		-29.3	2,703.4	295
	2016	948.0	819.3	.1	36.5	92.1		992.0	980.3	7.1	4.7		-44.0	2,659.4	273
	2017	1,000.5	868.3	.1	40.8	91.4		1,065.3	1,052.5	7.5	5.3		-64.8	2,594.6	250
	2018	1,065.6	927.7	c	45.3	92.6		1,144.7	1,131.2	8.0	5.4		-79.1	2,515.5	227
	2019	1,128.6	986.9	c	50.3	91.3		1,231.5	1,217.4	8.5	5.6		-102.9	2,412.6	204
	2020	1,188.2	1,043.7	c	55.6	88.9		1,324.7	1,309.9	9.0	5.8		-136.5	2,276.1	182
	2021	1,255.8	1,111.8	c	61.1	82.9		1,420.6	1,405.5	9.4	5.6		-164.8	2,111.3	160
	2022	1,315.0	1,172.3	c	66.9	75.8		1,525.3	1,509.2	9.9	6.2		-210.3	1,901.0	138

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a

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

b

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

c

Between -$50 million and $50 million.

Note: Totals do not necessarily equal the sums of rounded components.