United Parcel Service Inc. (UPS) financial statements: income statement, balance sheet and cash flow
United Parcel Service Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), United Parcel Service Inc. reported revenue of $88.7B (-2.6% year on year) and net income of $5.6B (-3.6% year on year).
Income statement
United Parcel Service Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$88.7B
$91.1B
$91.0B
$100.3B
Compensation and benefits
$48.6B
$48.1B
$47.1B
$47.8B
Repairs and maintenance
$3.1B
$2.9B
$2.8B
$2.5B
Depreciation and amortization
$3.7B
$3.6B
$3.4B
$3.2B
Purchased transportation
$10.6B
$13.6B
$13.7B
$17.7B
Fuel
$4.3B
$4.4B
$4.8B
$6.0B
Other occupancy
$2.3B
$2.1B
$2.0B
$1.8B
Other expenses
$8.2B
$7.9B
$8.1B
$8.3B
Total Operating Expenses
$80.8B
$82.6B
$81.8B
$87.2B
Operating Profit
$7.9B
$8.5B
$9.1B
$13.1B
Investment income (expense) and other
$314.0M
($160.0M)
—
$2.4B
Interest expense
($1.0B)
($866.0M)
($785.0M)
($704.0M)
Total Other Income and (Expense)
($703.0M)
($1.0B)
($568.0M)
$1.7B
Income Before Income Taxes
$7.2B
$7.4B
$8.6B
$14.8B
Income Tax Expense
$1.6B
$1.7B
$1.9B
$3.3B
Net Income
$5.6B
$5.8B
$6.7B
$11.5B
Basic Earnings Per Share (in dollars per share)
$6.56
$6.76
$7.81
$13.26
Diluted Earnings Per Share (in dollars per share)
$6.56
$6.75
$7.80
$13.20
United Parcel Service Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$22.8B
$21.2B
$21.4B
$21.2B
Compensation and benefits
$12.7B
$11.5B
$12.1B
$11.6B
Repairs and maintenance
$789.0M
$792.0M
$803.0M
$755.0M
Depreciation and amortization
$980.0M
$985.0M
$926.0M
$936.0M
Purchased transportation
$3.2B
$2.8B
$2.5B
$2.5B
Fuel
$1.7B
$1.1B
$1.1B
$1.1B
Other occupancy
$557.0M
$674.0M
$548.0M
$544.0M
Other expenses
$2.0B
$2.1B
$1.7B
$2.0B
Total Operating Expenses
$21.9B
$19.9B
$19.6B
$19.4B
Operating Profit
$930.0M
$1.3B
$1.8B
$1.8B
Investment income and other
$103.0M
$123.0M
$94.0M
$78.0M
Interest expense
($272.0M)
($266.0M)
($291.0M)
($238.0M)
Total Other Income (Expense)
($169.0M)
($143.0M)
($197.0M)
($160.0M)
Income Before Income Taxes
$761.0M
$1.1B
$1.6B
$1.7B
Income Tax Expense
$157.0M
$260.0M
$296.0M
$379.0M
Net Income
$604.0M
$864.0M
$1.3B
$1.3B
Basic Earnings Per Share (in dollars per share)
$0.71
$1.02
$1.55
$1.51
Diluted Earnings Per Share (in dollars per share)
$0.71
$1.02
$1.55
$1.51
Balance sheet
United Parcel Service Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$5.9B
$6.1B
$3.2B
$5.6B
Accounts receivable, net
$11.2B
$10.9B
$11.2B
$12.6B
Other current assets
$1.9B
$2.1B
$2.1B
$2.0B
Total Current Assets
$19.0B
$19.3B
$19.4B
$22.2B
Property, Plant and Equipment, Net
$37.7B
$37.2B
$36.9B
$34.7B
Operating Lease Right-Of-Use Assets
$4.3B
$4.1B
$4.3B
$3.8B
Goodwill
$5.8B
$4.3B
$4.9B
$4.2B
Intangible Assets, Net
$4.0B
$3.1B
$3.3B
$2.8B
Deferred Income Tax Assets
$140.0M
$112.0M
$126.0M
$139.0M
Other Non-Current Assets
$2.1B
$2.0B
$1.9B
$3.3B
Total Assets
$73.1B
$70.1B
$70.9B
$71.1B
Current maturities of long-term debt and finance leases
$608.0M
$1.8B
$3.3B
—
Current maturities of operating leases
$763.0M
$733.0M
$709.0M
$621.0M
Accounts payable
$6.6B
$6.3B
$6.3B
$7.5B
Accrued wages and withholdings
$3.7B
$3.7B
$3.2B
$4.0B
Self-insurance reserves
$1.1B
$1.1B
$1.3B
$1.1B
Accrued group welfare and retirement plan contributions
$1.4B
$1.4B
$1.5B
$1.1B
Other current liabilities
$1.4B
$1.4B
$1.3B
$1.5B
Total Current Liabilities
$15.6B
$16.4B
$17.7B
$18.1B
Long-Term Debt and Finance Leases
$23.5B
$19.4B
$18.9B
$17.3B
Non-Current Operating Leases
$3.7B
$3.6B
$3.8B
$3.2B
Pension and Postretirement Benefit Obligations
$6.6B
$6.9B
$6.2B
$4.8B
Deferred Income Tax Liabilities
$3.7B
$3.6B
$3.8B
$4.3B
Other Non-Current Liabilities
$3.7B
$3.4B
$3.3B
$3.5B
Common stock
$9.0M
$9.0M
$9.0M
$9.0M
Additional paid-in capital
$275.0M
$136.0M
$0
$0
Retained earnings
$20.2B
$20.9B
$21.1B
$21.3B
Accumulated other comprehensive loss
($4.2B)
($4.3B)
($3.8B)
($1.5B)
Deferred compensation obligations
$5.0M
$7.0M
$9.0M
$13.0M
Less: Treasury stock (0.1 shares in 2025 and 2024)
-5.0M
-7.0M
-9.0M
—
Total Equity for Controlling Interests
$16.2B
$16.7B
$17.3B
$19.8B
Noncontrolling Interests
$28.0M
$25.0M
$8.0M
$17.0M
Total Shareowners’ Equity
$16.3B
$16.7B
$17.3B
$19.8B
Total Liabilities and Shareowners’ Equity
$73.1B
$70.1B
$70.9B
$71.1B
Treasury stock (in shares)
100.0K
—
200.0K
—
United Parcel Service Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$4.7B
$5.8B
$6.8B
$6.2B
Accounts receivable, Net
$10.7B
$9.9B
$10.0B
$10.4B
Other current assets
$2.2B
$2.0B
$2.3B
$2.1B
Total Current Assets
$17.5B
$17.8B
$19.0B
$18.9B
Property, Plant and Equipment, Net
$37.9B
$38.0B
$37.7B
$37.7B
Operating Lease Right-Of-Use Assets
$4.0B
$4.1B
$4.2B
$4.0B
Goodwill
$5.8B
$5.8B
$4.8B
$4.8B
Intangible Assets, Net
$4.0B
$4.0B
$3.5B
$3.4B
Deferred Income Tax Assets
$155.0M
$154.0M
$158.0M
$142.0M
Other Non-Current Assets
$1.9B
$2.0B
$2.0B
$2.1B
Total Assets
$71.3B
$71.8B
$71.4B
$70.9B
Current maturities of long-term debt and finance leases
$634.0M
$637.0M
$932.0M
$920.0M
Current maturities of operating leases
$729.0M
$742.0M
$742.0M
$724.0M
Accounts payable
$6.0B
$5.9B
$5.8B
$6.0B
Accrued wages and withholdings
$3.4B
$3.2B
$3.5B
$3.2B
Self-insurance reserves
$1.1B
$1.1B
$1.0B
$1.1B
Accrued group welfare and retirement plan contributions
$1.1B
$1.4B
$1.2B
$1.1B
Other current liabilities
$2.0B
$1.6B
$1.4B
$1.2B
Total Current Liabilities
$14.9B
$14.7B
$14.6B
$14.2B
Long-Term Debt and Finance Leases
$23.9B
$23.7B
$23.9B
$23.8B
Non-Current Operating Leases
$3.5B
$3.5B
$3.7B
$3.4B
Pension and Postretirement Benefit Obligations
$6.3B
$6.7B
$6.2B
$6.4B
Deferred Income Tax Liabilities
$3.9B
$3.8B
$3.6B
$3.5B
Other Non-Current Liabilities
$3.8B
$3.6B
$3.7B
$3.8B
Common stock
$9.0M
$9.0M
$9.0M
$9.0M
Additional paid-in capital
$482.0M
$382.0M
$178.0M
$84.0M
Retained earnings
$18.8B
$19.6B
$19.8B
$19.8B
Accumulated other comprehensive loss
($4.3B)
($4.3B)
($4.1B)
($4.2B)
Deferred compensation obligations
$3.0M
$5.0M
$5.0M
$4.0M
Less: Treasury stock (0.1 shares in 2026 and 2025)
-3.0M
-5.0M
-5.0M
-4.0M
Total Equity for Controlling Interests
$15.1B
$15.8B
$15.8B
$15.8B
Noncontrolling interests
$32.0M
$28.0M
$25.0M
$27.0M
Total Shareowners' Equity
$15.1B
$15.8B
$15.8B
$15.8B
Total Liabilities and Shareowners' Equity
$71.3B
$71.8B
$71.4B
$70.9B
Cash flow statement
United Parcel Service Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net Income
$5.6B
$5.8B
$6.7B
$11.5B
Depreciation and amortization
$3.7B
$3.6B
$3.4B
$3.2B
Pension and postretirement benefit (income) expense
$1.0B
$1.7B
$1.3B
($129.0M)
Pension and postretirement benefit contributions
($1.4B)
($1.5B)
($1.4B)
($2.3B)
Self-insurance reserves
$236.0M
$44.0M
$57.0M
($20.0M)
Deferred tax (benefit) expense
($8.0M)
($15.0M)
$199.0M
$531.0M
Stock compensation expense
$73.0M
$24.0M
$220.0M
$1.6B
Other (gains) losses
$113.0M
$262.0M
$265.0M
$123.0M
Accounts receivable
($382.0M)
($566.0M)
$1.3B
($322.0M)
Other assets
$65.0M
$70.0M
$87.0M
$117.0M
Accounts payable
($190.0M)
$262.0M
($1.4B)
$34.0M
Accrued wages and withholdings
$27.0M
$501.0M
($296.0M)
($189.0M)
Other liabilities
($517.0M)
($11.0M)
($42.0M)
($9.0M)
Other operating activities
$67.0M
($14.0M)
($142.0M)
$6.0M
Net cash from operating activities
$8.4B
$10.1B
$10.2B
$14.1B
Capital expenditures
($3.7B)
($3.9B)
($5.2B)
($4.8B)
Proceeds from disposal of businesses, property, plant and equipment
$700.0M
$1.1B
$193.0M
$12.0M
Purchases of marketable securities
($90.0M)
($76.0M)
($3.5B)
($1.9B)
Sales and maturities of marketable securities
$293.0M
$2.7B
$2.7B
$255.0M
Acquisitions, net of cash acquired
($2.0B)
($71.0M)
($1.3B)
($755.0M)
Other investing activities
$15.0M
($24.0M)
($19.0M)
($333.0M)
Net cash used in investing activities
($4.7B)
($217.0M)
($7.1B)
($7.5B)
Net change in short-term debt
$0
($1.3B)
$1.3B
$0
Proceeds from long-term borrowings
$4.2B
$2.8B
$3.4B
$0
Repayments of long-term borrowings
($2.1B)
($2.5B)
($2.4B)
($2.3B)
Purchases of common stock
($1.0B)
($500.0M)
($2.3B)
($3.5B)
Issuances of common stock
$159.0M
$232.0M
$248.0M
$262.0M
Dividends
($5.4B)
($5.4B)
($5.4B)
($5.1B)
Other financing activities
$14.0M
($209.0M)
($432.0M)
($529.0M)
Net cash used in financing activities
($4.1B)
($6.8B)
($5.5B)
($11.2B)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash
$201.0M
($149.0M)
$33.0M
($100.0M)
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash
($225.0M)
$2.9B
($2.4B)
($4.7B)
Beginning of period
$6.1B
$3.2B
$5.6B
$10.3B
End of period
$5.9B
$6.1B
$3.2B
$5.6B
United Parcel Service Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income
$1.5B
$864.0M
$3.8B
$2.5B
Depreciation and amortization
$2.0B
$985.0M
$2.8B
$1.8B
Pension and postretirement benefit expense
$429.0M
$215.0M
$763.0M
$514.0M
Pension and postretirement benefit contributions
($581.0M)
($79.0M)
($1.3B)
($921.0M)
Self-insurance reserves
$105.0M
$16.0M
$76.0M
$169.0M
Deferred tax (benefit) expense
$144.0M
$45.0M
($34.0M)
($84.0M)
Stock compensation expense
$58.0M
$24.0M
$41.0M
$16.0M
Other (gains) losses
$90.0M
$73.0M
($155.0M)
$64.0M
Accounts receivable
$330.0M
$1.1B
$854.0M
$540.0M
Other assets
($272.0M)
($27.0M)
($80.0M)
($140.0M)
Accounts payable
($302.0M)
($495.0M)
($801.0M)
($442.0M)
Accrued wages and withholdings
($306.0M)
($453.0M)
($202.0M)
($447.0M)
Other liabilities
($44.0M)
$29.0M
($528.0M)
($909.0M)
Other operating activities
($1.0M)
($58.0M)
($3.0M)
($12.0M)
Net cash from operating activities
$3.1B
$2.2B
$5.1B
$2.7B
Capital expenditures
($1.7B)
($1.0B)
($3.0B)
($2.0B)
Proceeds from disposal of businesses, property, plant and equipment
$198.0M
$82.0M
$585.0M
$91.0M
Purchases of marketable securities
$0
$0
($90.0M)
($90.0M)
Sales and maturities of marketable securities
$0
$0
$229.0M
$205.0M
Acquisitions, net of cash acquired
$0
$0
($479.0M)
($479.0M)
Other investing activities
$16.0M
$5.0M
($10.0M)
($6.0M)
Net cash used in investing activities
($1.5B)
($944.0M)
($2.7B)
($2.3B)
Proceeds from long-term borrowings
$0
$0
$4.2B
$4.2B
Repayments of long-term borrowings
($85.0M)
($46.0M)
($1.1B)
($1.1B)
Purchases of common stock
$0
$0
($1.0B)
($1.0B)
Issuances of common stock
$60.0M
$28.0M
$133.0M
$102.0M
Dividends
($2.7B)
($1.4B)
($4.0B)
($2.7B)
Other financing activities
($24.0M)
$42.0M
($43.0M)
($15.0M)
Net cash used in financing activities
($2.8B)
($1.3B)
($1.9B)
($519.0M)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash
($50.0M)
($37.0M)
$185.0M
$213.0M
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash