U.S. Department of State Fiscal Year 2020 Agency Financial Report

CONSOL IDATED STATEMENT OF NET COST (NOTE 14) (dollars in millions) For the Year Ended September 30, 2020 2019 SG1: Protect America's Security at Home and Abroad Total Cost $ 7,554 $ 7,294 Earned Revenue (1,864) (2,974) Net Program Costs 5,690 4,320 SG2: Renew America's Competitive Advantage for Sustained Economic Growth and Job Creation Total Cost 2,113 2,049 Earned Revenue (92) (106) Net Program Costs 2,021 1,943 SG3: Promote American Leadership through Balanced Engagement Total Cost 14,709 14,072 Earned Revenue (68) (84) Net Program Costs 14,641 13,988 SG4: Ensure Effectiveness and Accountability to the American Taxpayer Total Cost 13,961 14,312 Earned Revenue (4,729) (5,584) Net Program Costs Before Assumption Changes 9,232 8,728 Actuarial Loss on Pension Assumption Changes (Notes 1 and 9) 1,056 719 Net Program Costs 10,288 9,447 Cost Not Assigned to Programs Total Cost (1) 12 Earned Revenue (2) (1) Net Costs (3) 11 Total Cost and Loss on Assumption Changes 39,392 38,458 Total Revenue (6,755) (8,749) Total Net Cost $ 32,637 $ 29,709 The accompanying notes are an integral part of this financial statement. PRINCIPAL FINANCIAL STATEMENTS | FINANCIAL SECTION 2020 A gency F inanci al R eport U ni ted S tates D epartment of S tate | 65