Investment return, net University Independent operations Gifts and trusts Net assets released from restrictions and changes in donor intent Change in fair value of interest rate swaps Post-retirement plan changes other than net periodic benefit cost: University Independent operations Net periodic benefit costs other than service costs: University Independent operations Other Nonoperating (loss) income Change in net assets Net assets, beginning of year Net assets, end of year 2022 Without Donor Restrictions With Donor Restrictions Total 2021 NONOPERATING ACTIVITY $ (60,661) (7,373) 2,455 18,435 14,310 13,580 364 (1,924) (60) 798 (20,094) (14,289) 1,212,498 $ 1,198,209 (77,730) — 28,520 (18,435) — — — — — 1,880 (65,765) (68,121) 1,304,181 1,236,060 (138,391) (7,373) 30,975 — 14,310 13,580 346 (1,924) (60) 2,678 (85,859) (82,410) 2,516,679 2,434,269 460,203 5,573 23,632 — 11,732 1,618 46 (1,850) (57) (1,094) 499,803 499,817 2,016,862 2,516,679 Lehigh University CONSOLIDATED STATEMENT OF ACTIVITIES (CONTINUED) Year Ended June 30, 2022 (with comparative financial information for year ended June 30, 2021) (in thousands) 2 0 2 2 A N N U A L R E P O R T | 2 2
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