← UNITED PARCEL SERVICE INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $3.4b $4.9b $4.8b $4.4b $1.3b $12.9b $11.5b $6.7b $5.8b $5.6b
Amortization of Intangible Assets $321.0m $287.0m $339.0m $377.0m $416.0m $475.0m $525.0m $597.0m $648.0m $700.0m
Depreciation $2.2b $2.3b $2.2b $212.0m $2.7b $3.0b $76.0m $3.4b $3.6b $3.7b
Depreciation, Depletion and Amortization $2.2b $2.3b $2.2b $2.4b $2.7b $3.0b $3.2b $3.4b $3.6b $3.0b
Deferred Income Tax Expense (Benefit) $123.0m $1.2b $758.0m $100.0m ($858.0m) $1.6b $531.0m $199.0m ($15.0m) ($8.0m)
Deferred tax (benefit) expense $123.0m $1.2b $758.0m $100.0m ($858.0m) $1.6b $531.0m $199.0m ($15.0m) ($8.0m)
Goodwill and Intangible Asset Impairment — — — — — — — $236.0m — —
Goodwill, Impairment Loss — — $0 $0 $494.0m — — $125.0m $0 —
Impairment of Intangible Assets, Finite-lived $0 $7 $12.0m $2.0m $13.0m $19.0m $17.0m $8.0m $71.0m $39.0m
Operating Lease, Impairment Loss — — — — $17.0m $0 $0 $0 $0 $0
Share-based Payment Arrangement, Expense — — — — — — $505.0m — — —
Share-based Payment Arrangement, Noncash Expense $591.0m $584.0m $634.0m $915.0m $796.0m $878.0m $1.6b $220.0m $24.0m $73.0m
Stock compensation expense $591.0m $584.0m $634.0m $915.0m $796.0m $878.0m $1.6b $220.0m $24.0m $73.0m
Gain (Loss) on Disposition of Property Plant Equipment $88.0m $24.0m $37.0m $65.0m $40.0m $872.0m $12.0m $193.0m $1.1b $72.0m
Income Tax Expense (Benefit) $1.7b $2.2b $1.2b $1.2b $501.0m $3.7b $3.3b $1.9b $1.7b $1.6b
Interest Expense Nonoperating — — — — — — — — $866.0m $1.0b
Changes in operating assets and liabilities:
Additional Financial Items
Accounts payable $461.0m $592.0m $1.0b $419.0m $904.0m $1.3b $34.0m ($1.4b) $262.0m ($190.0m)
Accounts receivable ($704.0m) ($1.0b) ($421.0m) ($717.0m) ($1.6b) ($2.1b) ($322.0m) $1.3b ($566.0m) ($382.0m)
Accrued wages and withholdings $109.0m $193.0m $505.0m ($446.0m) $1.6b ($245.0m) ($189.0m) ($296.0m) $501.0m $27.0m
Acquisitions, net of cash acquired ($547.0m) ($134.0m) ($2.0m) ($6.0m) ($20.0m) ($602.0m) ($755.0m) ($1.3b) ($71.0m) ($2.0b)
Beginning of period $2.7b $3.5b $4.4b $5.2b $5.9b $10.3b $5.6b $3.2b $6.1b $5.9b
Foreign Currency Transaction Gain (Loss), before Tax $5.0m $3.0m ($19.0m) ($6.0m) $9.0m ($36.0m) $72.0m ($53.0m) ($38.0m) ($22.0m)
Gain (Loss) Related to Litigation Settlement — — — — — — — — ($45.0m) —
Goodwill $3.8b $3.9b $3.8b $3.8b $3.4b $3.7b $4.2b $4.9b $4.3b $5.8b
Increase (Decrease) in Accounts Payable $461.0m $592.0m $1.0b $419.0m $904.0m $1.3b $34.0m ($1.4b) $262.0m ($190.0m)
Increase (Decrease) in Accounts Receivable $704.0m $1.0b $421.0m $717.0m $1.6b $2.1b $322.0m ($1.3b) $566.0m $382.0m
Increase (Decrease) in Other Operating Assets $14.0m $982.0m ($754.0m) ($698.0m) ($218.0m) ($312.0m) ($117.0m) ($87.0m) ($70.0m) ($65.0m)
Net change in short-term debt ($88.0m) ($250.0m) $63.0m $310.0m ($2.5b) $0 $0 $1.3b ($1.3b) $0
Nonoperating Income (Expense) ($331.0m) ($381.0m) ($1.0b) ($2.1b) ($5.8b) $3.8b $1.7b ($568.0m) ($1.0b) ($703.0m)
Other (gains) losses ($198.0m) $37.0m $293.0m $74.0m $917.0m $137.0m $123.0m $265.0m $262.0m $113.0m
Other assets ($14.0m) ($982.0m) $754.0m $698.0m $218.0m $312.0m $117.0m $87.0m $70.0m $65.0m
Other liabilities ($561.0m) ($241.0m) $170.0m $182.0m ($110.0m) $151.0m ($9.0m) ($42.0m) ($11.0m) ($517.0m)
Other operating activities ($25.0m) $47.0m $16.0m $20.0m ($21.0m) $22.0m $6.0m ($142.0m) ($14.0m) $67.0m
Pension and postretirement benefit (income) expense $3.7b $1.6b $2.2b $3.1b $7.1b ($2.5b) ($129.0m) $1.3b $1.7b $1.0b
Pension and postretirement benefit contributions ($2.7b) ($7.8b) ($186.0m) ($2.4b) ($3.1b) ($576.0m) ($2.3b) ($1.4b) ($1.5b) ($1.4b)
Proceeds from long-term borrowings $5.9b $12.0b $1.2b $5.2b $5.0b $0 $0 $3.4b $2.8b $4.2b
Purchases of marketable securities ($4.8b) ($1.6b) ($973.0m) ($561.0m) ($254.0m) ($312.0m) ($1.9b) ($3.5b) ($76.0m) ($90.0m)
Repayments of long-term borrowings ($3.8b) ($3.9b) ($2.9b) ($3.1b) ($3.4b) ($2.8b) ($2.3b) ($2.4b) ($2.5b) ($2.1b)
Restructuring Costs — — $360.0m $255.0m $348.0m $380.0m $178.0m $435.0m $322.0m $593.0m
Sales and maturities of marketable securities $5.7b $2.0b $886.0m $883.0m $360.0m $366.0m $255.0m $2.7b $2.7b $293.0m
Self-insurance reserves ($21.0m) $0 ($86.0m) ($185.0m) $503.0m $178.0m ($20.0m) $57.0m $44.0m $236.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment — — — — — — $34.0m — — —
Other Operating Income (Expense), Net — ($11.0m) — — — — — — — —
Net Cash Provided by (Used in) Operating Activities $6.5b $1.5b $12.7b $8.6b $10.5b $15.0b $14.1b $10.2b $10.1b $8.4b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $3.0b $5.2b $6.3b $6.4b $5.4b $4.2b $4.8b $5.2b $3.9b $3.7b
Payments to Acquire Businesses, Net of Cash Acquired $547.0m $134.0m $2.0m $6.0m $20.0m $602.0m $755.0m $1.3b $71.0m $2.0b
Payments to Acquire Investments $4.8b $1.6b $973.0m $561.0m $254.0m $312.0m $1.9b $3.5b $76.0m $90.0m
Other investing activities ($59.0m) $1.0m $1.0m ($75.0m) ($41.0m) $18.0m ($333.0m) ($19.0m) ($24.0m) $15.0m
Payments for (Proceeds from) Other Investing Activities $59.0m ($1.0m) ($1.0m) $75.0m $41.0m ($18.0m) $333.0m $19.0m $24.0m ($15.0m)
Net Cash Provided by (Used in) Investing Activities ($2.6b) ($5.0b) ($6.3b) ($6.1b) ($5.3b) ($3.8b) ($7.5b) ($7.1b) ($217.0m) ($4.7b)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt $5.9b $12.0b $1.2b $5.2b $5.0b $0 $0 $3.4b $2.8b $4.2b
Repayments of Long-term Debt $3.8b $3.9b $2.9b $3.1b $3.4b $2.8b $2.3b $2.4b $2.5b $2.1b
Issuances of common stock $245.0m $247.0m $240.0m $218.0m $285.0m $251.0m $262.0m $248.0m $232.0m $159.0m
Proceeds from Issuance of Common Stock $245.0m $247.0m $240.0m $218.0m $285.0m $251.0m $262.0m $248.0m $232.0m $159.0m
Payments for Repurchase of Common Stock $2.7b $1.8b $1.0b $1.0b $224.0m $500.0m $3.5b $2.2b $500.0m $1.0b
Purchases of common stock ($2.7b) ($1.8b) ($1.0b) ($1.0b) ($224.0m) ($500.0m) ($3.5b) ($2.2b) ($500.0m) ($1.0b)
Dividends ($3k) ($3k) ($3k) ($3k) ($3k) ($3k) ($5k) ($5k) ($5k) ($5k)
Dividends paid $2.6b $2.8b $3.0b $3.2b $3.4b $3.4b $5.1b $5.4b $5.4b $5.4b
Other financing activities ($98.0m) ($203.0m) ($288.0m) ($166.0m) ($353.0m) ($364.0m) ($529.0m) ($432.0m) ($209.0m) $14.0m
Proceeds from (Payments for) Other Financing Activities ($98.0m) ($203.0m) ($288.0m) ($166.0m) ($353.0m) ($364.0m) ($529.0m) ($432.0m) ($209.0m) $14.0m
Net Cash Provided by (Used in) Financing Activities ($3.1b) $3.3b ($5.7b) ($1.7b) ($4.5b) ($6.8b) ($11.2b) ($5.5b) ($6.8b) ($4.1b)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash ($21.0m) $53.0m ($91.0m) $20.0m $13.0m ($21.0m) ($100.0m) $33.0m ($149.0m) $201.0m
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($21.0m) $53.0m ($91.0m) $20.0m $13.0m ($21.0m) ($100.0m) $33.0m ($149.0m) $201.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($21.0m) $53.0m $598.0m $871.0m $672.0m $4.3b ($4.7b) ($2.4b) $2.9b ($225.0m)
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash $749.0m ($152.0m) $598.0m $871.0m $672.0m $4.3b ($4.7b) ($2.4b) $2.9b ($225.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($21.0m) $53.0m $4.4b $5.2b $5.9b $10.3b $5.6b $3.2b $6.1b $5.9b
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $373.0m $428.0m $595.0m $628.0m $691.0m $697.0m $721.0m $762.0m $854.0m $990.0m
Income Taxes Paid, Net — — — — — — — — — $1.9b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.