Exhibit 99.2
United Parcel Service, Inc.
Selected Financial Data - Second Quarter
(unaudited)
Three Months Ended
June 30
20232022Change% Change
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
  U.S. Domestic Package$14,396 $15,459 $(1,063)(6.9)%
  International Package4,415 5,073 (658)(13.0)%
  Supply Chain Solutions3,244 4,234 (990)(23.4)%
  Total revenue22,055 24,766 (2,711)(10.9)%
Operating expenses:
  U.S. Domestic Package12,794 13,630 (836)(6.1)%
  International Package3,532 3,880 (348)(9.0)%
  Supply Chain Solutions2,949 3,721 (772)(20.7)%
  Total operating expenses19,275 21,231 (1,956)(9.2)%
Operating profit:
  U.S. Domestic Package1,602 1,829 (227)(12.4)%
  International Package883 1,193 (310)(26.0)%
  Supply Chain Solutions295 513 (218)(42.5)%
  Total operating profit2,780 3,535 (755)(21.4)%
Other income (expense):
 Other pension income (expense)66 298 (232)(77.9)%
  Investment income (expense) and other65 35 30 85.7 %
  Interest expense(191)(171)(20)11.7 %
  Total other income (expense)(60)162 (222)N/A
Income before income taxes2,720 3,697 (977)(26.4)%
Income tax expense639 848 (209)(24.6)%
Net income$2,081 $2,849 $(768)(27.0)%
Net income as a percentage of revenue9.4 %11.5 %
Per share amounts:
  Basic earnings per share$2.42 $3.26 $(0.84)(25.8)%
  Diluted earnings per share$2.42 $3.25 $(0.83)(25.5)%
Weighted-average shares outstanding:
  Basic860 874 (14)(1.6)%
  Diluted861 876 (15)(1.7)%
As Adjusted Income Data (1):
Operating profit:
  U.S. Domestic Package $1,681 $1,855 $(174)(9.4)%
  International Package 902 1,204 (302)(25.1)%
  Supply Chain Solutions336 517 (181)(35.0)%
  Total operating profit 2,919 3,576 (657)(18.4)%
Total other income (expense)$(60)$162 $(222)N/A
Income before income taxes $2,859 $3,738 $(879)(23.5)%
Net income $2,187 $2,880 $(693)(24.1)%
Basic earnings per share $2.54 $3.30 $(0.76)(23.0)%
Diluted earnings per share$2.54 $3.29 $(0.75)(22.8)%

(1) See Non-GAAP schedules for reconciliation of adjustments.

.
Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Selected Operating Data - Second Quarter
(unaudited)
Three Months Ended
June 30
20232022Change% Change
Revenue (in millions):
U.S. Domestic Package:
   Next Day Air$2,407 $2,656 $(249)(9.4)%
   Deferred1,169 1,392 (223)(16.0)%
   Ground10,820 11,411 (591)(5.2)%
      Total U.S. Domestic Package14,396 15,459 (1,063)(6.9)%
International Package:
   Domestic763 829 (66)(8.0)%
   Export3,468 3,976 (508)(12.8)%
   Cargo and Other184 268 (84)(31.3)%
      Total International Package4,415 5,073 (658)(13.0)%
Supply Chain Solutions:
   Forwarding1,376 2,389 (1,013)(42.4)%
Logistics1,431 1,290 141 10.9 %
   Other437 555 (118)(21.3)%
      Total Supply Chain Solutions3,244 4,234 (990)(23.4)%
Consolidated$22,055 $24,766 $(2,711)(10.9)%
Consolidated volume (in millions)1,338 1,476 (138)(9.4)%
Operating weekdays64 64 — 0.0 %
Average Daily Package Volume (in thousands):
U.S. Domestic Package:
   Next Day Air1,679 1,910 (231)(12.1)%
   Deferred1,087 1,401 (314)(22.4)%
   Ground14,974 16,374 (1,400)(8.6)%
      Total U.S. Domestic Package17,740 19,685 (1,945)(9.9)%
International Package:
   Domestic1,554 1,703 (149)(8.7)%
   Export1,608 1,683 (75)(4.5)%
      Total International Package3,162 3,386 (224)(6.6)%
Consolidated20,902 23,071 (2,169)(9.4)%
Average Revenue Per Piece:
U.S. Domestic Package:
   Next Day Air$22.40 $21.73 $0.67 3.1 %
   Deferred16.80 15.521.28 8.2 %
   Ground11.2910.89 0.40 3.7 %
      Total U.S. Domestic Package12.6812.27 0.41 3.3 %
International Package:
   Domestic7.67 7.61 0.06 0.8 %
   Export33.7036.91(3.21)(8.7)%
      Total International Package20.91 22.17 (1.26)(5.7)%
Consolidated$13.92 $13.72 $0.20 1.5 %








Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Detail of Operating Expenses - Second Quarter
(unaudited)
Three Months Ended
June 30
20232022Change% Change
(in millions)
Compensation and benefits$11,197 $11,344 $(147)(1.3)%
Repairs and maintenance682 727 (45)(6.2)%
Depreciation and amortization828 762 66 8.7 %
Purchased transportation3,173 4,390 (1,217)(27.7)%
Fuel1,090 1,697 (607)(35.8)%
Other occupancy458 422 36 8.5 %
Other expenses1,847 1,889 (42)(2.2)%
Total operating expenses$19,275 $21,231 $(1,956)(9.2)%


























































Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Selected Financial Data - Year to Date
(unaudited)
Six Months Ended
June 30
20232022Change% Change
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
  U.S. Domestic Package$29,383 $30,583 $(1,200)(3.9)%
  International Package8,958 9,949 (991)(10.0)%
  Supply Chain Solutions6,639 8,612 (1,973)(22.9)%
  Total revenue44,980 49,144 (4,164)(8.5)%
Operating expenses:
  U.S. Domestic Package26,315 27,092 (777)(2.9)%
  International Package7,247 7,640 (393)(5.1)%
  Supply Chain Solutions6,097 7,626 (1,529)(20.0)%
  Total operating expenses39,659 42,358 (2,699)(6.4)%
Operating profit:
  U.S. Domestic Package3,068 3,491 (423)(12.1)%
  International Package1,711 2,309 (598)(25.9)%
  Supply Chain Solutions542 986 (444)(45.0)%
  Total operating profit5,321 6,786 (1,465)(21.6)%
Other income (expense):
 Other pension income (expense)132 629 (497)(79.0)%
  Investment income (expense) and other168 19 149 784.2 %
  Interest expense(379)(345)(34)9.9 %
  Total other income (expense)(79)303 (382)N/A
Income before income taxes5,242 7,089 (1,847)(26.1)%
Income tax expense1,266 1,578 (312)(19.8)%
Net income$3,976 $5,511 $(1,535)(27.9)%
Net income as a percentage of revenue8.8 %11.2 %
Per share amounts:
  Basic earnings per share$4.62 $6.31 $(1.69)(26.8)%
  Diluted earnings per share$4.61 $6.28 $(1.67)(26.6)%
Weighted-average shares outstanding:
  Basic861 874 (13)(1.5)%
  Diluted863 878 (15)(1.7)%
As Adjusted Income Data (1):
Operating profit:
  U.S. Domestic Package $3,169 $3,560 $(391)(11.0)%
  International Package 1,708 2,324 (616)(26.5)%
  Supply Chain Solutions594 998 (404)(40.5)%
  Total operating profit 5,471 6,882 (1,411)(20.5)%
Total other income (expense)$(79)$270 $(349)N/A
Income before income taxes $5,392 $7,152 $(1,760)(24.6)%
Net income $4,091 $5,561 $(1,470)(26.4)%
Basic earnings per share $4.75 $6.36 $(1.61)(25.3)%
Diluted earnings per share$4.74 $6.33 $(1.59)(25.1)%

(1) See Non-GAAP schedules for reconciliation of adjustments.


.
Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Selected Operating Data - Year to Date
(unaudited)
Six Months Ended
June 30
20232022Change% Change
Revenue (in millions):
U.S. Domestic Package:
   Next Day Air$4,868 $5,250 $(382)(7.3)%
   Deferred2,363 2,812 (449)(16.0)%
   Ground22,152 22,521 (369)(1.6)%
      Total U.S. Domestic Package29,383 30,583 (1,200)(3.9)%
International Package:
   Domestic1,557 1,680 (123)(7.3)%
   Export7,020 7,754 (734)(9.5)%
   Cargo and Other381 515 (134)(26.0)%
      Total International Package8,958 9,949 (991)(10.0)%
Supply Chain Solutions:
   Forwarding2,890 4,978 (2,088)(41.9)%
Logistics2,841 2,541 300 11.8 %
   Other908 1,093 (185)(16.9)%
      Total Supply Chain Solutions6,639 8,612 (1,973)(22.9)%
Consolidated$44,980 $49,144 $(4,164)(8.5)%
Consolidated volume (in millions)2,745 2,966 (221)(7.5)%
Operating weekdays128 128 — 0.0 %
Average Daily Package Volume (in thousands):
U.S. Domestic Package:
   Next Day Air1,708 1,928 (220)(11.4)%
   Deferred1,113 1,455 (342)(23.5)%
   Ground15,385 16,330 (945)(5.8)%
      Total U.S. Domestic Package18,206 19,713 (1,507)(7.6)%
International Package:
   Domestic1,594 1,754 (160)(9.1)%
   Export1,645 1,708 (63)(3.7)%
      Total International Package3,239 3,462 (223)(6.4)%
Consolidated21,445 23,175 (1,730)(7.5)%
Average Revenue Per Piece:
U.S. Domestic Package:
   Next Day Air$22.27 $21.27 $1.00 4.7 %
   Deferred16.5915.101.499.9 %
   Ground11.25 10.77 0.48 4.5 %
      Total U.S. Domestic Package12.61 12.12 0.49 4.0 %
International Package:
   Domestic7.63 7.48 0.15 2.0 %
   Export33.3435.47(2.13)(6.0)%
      Total International Package20.69 21.29 (0.60)(2.8)%
Consolidated$13.83 $13.49 $0.34 2.5 %








Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Detail of Operating Expenses - Year to Date
(unaudited)
Six Months Ended
June 30
20232022Change% Change
(in millions)
Compensation and benefits$22,659 $22,945 $(286)(1.2)%
Repairs and maintenance1,407 1,428 (21)(1.5)%
Depreciation and amortization1,662 1,526 136 8.9 %
Purchased transportation6,716 8,997 (2,281)(25.4)%
Fuel2,361 2,917 (556)(19.1)%
Other occupancy1,009 923 86 9.3 %
Other expenses3,845 3,622 223 6.2 %
Total operating expenses$39,659 $42,358 $(2,699)(6.4)%


























































Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Consolidated Balance Sheets
June 30, 2023 (unaudited) and December 31, 2022

June 30, 2023December 31, 2022
(amounts in millions)
ASSETS
Current Assets:
Cash and cash equivalents$4,812 $5,602 
Marketable securities3,071 1,993 
Accounts receivable9,738 12,729 
Less: Allowance for credit losses(151)(146)
Accounts receivable, net9,587 12,583 
Other current assets1,969 2,039 
 Total Current Assets19,439 22,217 
Property, Plant and Equipment, Net35,501 34,719 
Operating Lease Right-Of-Use Assets4,219 3,755 
Goodwill4,250 4,223 
Intangible Assets, Net2,890 2,796 
Deferred Income Tax Assets137 139 
Other Non-Current Assets3,911 3,275 
Total Assets $70,347 $71,124 
LIABILITIES AND SHAREOWNERS' EQUITY
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases$1,412 $2,341 
Current maturities of operating leases673 621 
Accounts payable6,085 7,515 
Accrued wages and withholdings2,962 4,049 
Self-insurance reserves1,101 1,069 
Accrued group welfare and retirement plan contributions1,200 1,078 
Other current liabilities 1,253 1,467 
Total Current Liabilities14,686 18,140 
Long-Term Debt and Finance Leases19,351 17,321 
Non-Current Operating Leases3,680 3,238 
Pension and Postretirement Benefit Obligations4,635 4,807 
Deferred Income Tax Liabilities4,421 4,302 
Other Non-Current Liabilities3,537 3,513 
Shareowners' Equity:
Class A common stock
Class B common stock
Additional paid-in capital— — 
Retained earnings21,584 21,326 
Accumulated other comprehensive loss(1,574)(1,549)
Deferred compensation obligations13 
Less: Treasury stock(9)(13)
Total Equity for Controlling Interests20,019 19,786 
Noncontrolling interests18 17 
Total Shareowners' Equity20,037 19,803 
Total Liabilities and Shareowners' Equity$70,347 $71,124 







Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Statements of Consolidated Cash Flows
(unaudited)
(amounts in millions)Six Months Ended
June 30
20232022
Cash Flows From Operating Activities:
Net income$3,976 $5,511 
Adjustments to reconcile net income to net cash from operating activities:
 Depreciation and amortization 1,662 1,526 
 Pension and postretirement benefit expense 486 433 
 Pension and postretirement benefit contributions (1,328)(123)
 Self-insurance reserves 64 112 
 Deferred tax (benefit) expense 168 360 
 Stock compensation expense 165 617 
 Other (gains) losses (19)11 
Changes in assets and liabilities, net of effects of business acquisitions:
 Accounts receivable 2,898 820 
 Other assets 187 (62)
 Accounts payable (1,921)(508)
 Accrued wages and withholdings (535)(348)
 Other liabilities (132)22 
Other operating activities(77)(78)
 Net cash from operating activities 5,594 8,293 
Cash Flows From Investing Activities:
Capital expenditures(1,820)(1,388)
Proceeds from disposal of businesses, property, plant and equipment50 
Purchases of marketable securities(2,970)(132)
Sales and maturities of marketable securities1,903 130 
Acquisitions, net of cash acquired(34)(99)
Other investing activities12 (19)
Net cash used in investing activities(2,859)(1,499)
Cash Flows From Financing Activities:
Net change in short-term debt— — 
Proceeds from long-term borrowings2,503 — 
Repayments of long-term borrowings(1,596)(1,105)
Purchases of common stock(1,498)(1,242)
Issuances of common stock119 136 
Dividends(2,693)(2,567)
Other financing activities(417)(508)
Net cash from (used in) financing activities(3,582)(5,286)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash57 (28)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash(790)1,480 
Cash, Cash Equivalents and Restricted Cash:
Beginning of period5,602 10,255 
End of period$4,812 $11,735 








Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Reconciliation of Free Cash Flow (Non-GAAP measure)
(unaudited)
(amounts in millions)Six Months Ended
June 30
20232022
Cash flows from operating activities$5,594 $8,293 
Capital expenditures(1,820)(1,388)
Proceeds from disposals of property, plant and equipment50 
Other investing activities12 (19)
   Free Cash Flow (Non-GAAP measure)$3,836 $6,895 















































Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Reconciliation of Adjusted Debt to Adjusted EBITDA (Non-GAAP measure)
(unaudited)
(amounts in millions)
TTM(1) Ended
TTM(1) Ended
June 30, 2023June 30, 2022
Net income$10,013 $10,933 
Add back:
Income tax expense2,965 3,111 
Interest expense738 695 
Depreciation & amortization3,324 3,018 
EBITDA17,040 17,757 
Add back (deduct):
Incentive compensation program redesign505 — 
Transformation and other232 231 
Defined benefit plan (gains) and losses(1,028)(15)
Investment income and other pension income(1,059)(1,151)
Adjusted EBITDA$15,690 $16,822 
Debt and finance leases, including current maturities$20,763 $20,576 
Add back:
Non-current pension and postretirement benefit obligations4,635 8,343 
Adjusted total debt$25,398 $28,919 
Adjusted total debt/Net income2.54 2.65 
Adjusted total debt/adjusted EBITDA (Non-GAAP)1.62 1.72 


(1) Trailing twelve months.





































Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Reconciliation of Adjusted Return on Invested Capital (Non-GAAP measure)
(unaudited)
(amounts in millions)
TTM(1) Ended
TTM(1) Ended
June 30, 2023June 30, 2022
Net income$10,013 $10,933 
Add back (deduct):
Income tax expense2,965 3,111 
Interest expense738 695 
Other pension (income) expense(1,754)(1,181)
Investment (income) expense and other(333)15 
Operating profit$11,629 $13,573 
Incentive compensation program redesign505 — 
Long-lived asset estimated residual value changes76 — 
Transformation and other232 231 
Adjusted operating profit$12,442 $13,804 
Average debt and finance leases, including current maturities$20,670 $21,584 
Average pension and postretirement benefit obligations6,489 8,009 
Average shareowners' equity18,174 13,566 
Average invested capital$45,333 $43,159 
Net income to average invested capital22.1 %25.3 %
Adjusted Return on Invested Capital (Non-GAAP)27.4 %32.0 %


(1) Trailing twelve months.





























Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Reconciliation of GAAP and As Adjusted Income Statement Data
(unaudited)
Three Months Ended June 30,
(in millions, except per share data)20232022
As Reported (GAAP)
Transformation & Other Adj.(1)
As Adjusted
(Non-GAAP)
As Reported (GAAP)
Transformation & Other Adj.(2)
As Adjusted
(Non-GAAP)
% Change As Rep. (GAAP)% Change
As Adj.
(Non-GAAP)
U.S. Domestic Package$12,794 $79 $12,715 $13,630 $26 $13,604 (6.1)%(6.5)%
International Package3,532 19 3,513 3,880 11 3,869 (9.0)%(9.2)%
Supply Chain Solutions2,949 41 2,908 3,721 3,717 (20.7)%(21.8)%
Operating expense19,275 139 19,136 21,231 41 21,190 (9.2)%(9.7)%
U.S. Domestic Package$1,602 $79 $1,681 $1,829 $26 $1,855 (12.4)%(9.4)%
International Package883 19 902 1,193 11 1,204 (26.0)%(25.1)%
Supply Chain Solutions295 41 336 513 517 (42.5)%(35.0)%
Operating Profit2,780 139 2,919 3,535 41 3,576 (21.4)%(18.4)%
Other Income and (Expense):
Other pension income (expense)66 — 66 298 — 298 (77.9)%(77.9)%
Investment income (expense) and other65 — 65 35 — 35 85.7 %85.7 %
Interest expense(191)— (191)(171)— (171)11.7 %11.7 %
Total Other Income (Expense)$(60)$— $(60)$162 $— $162 N/AN/A
Income Before Income Taxes2,720 139 2,859 3,697 41 3,738 (26.4)%(23.5)%
Income Tax Expense639 33672 848 10858 (24.6)%(21.7)%
Net Income$2,081 $106 $2,187 $2,849 $31 $2,880 (27.0)%(24.1)%
Basic Earnings Per Share$2.42 $0.12 $2.54 $3.26 $0.04 $3.30 (25.8)%(23.0)%
Diluted Earnings Per Share$2.42 $0.12 $2.54 $3.25 $0.04 $3.29 (25.5)%(22.8)%
Weighted-average shares outstanding:
Basic860 874 
Diluted861 876 

(1) Reflects other employee benefits costs of $109 million and other costs of $30 million.
(2) Reflects other employee benefits costs of $23 million and other costs of $18 million.        









Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Reconciliation of GAAP and As Adjusted Income Statement Data
(unaudited)
Six Months Ended June 30,
(in millions, except per share data)20232022
As Reported (GAAP)
Transformation & Other Adj.(1)
As Adjusted
(Non-GAAP)
As Reported (GAAP)
Pension Adj.(2)
Transformation & Other Adj.(3)
As Adjusted
(Non-GAAP)
% Change As Rep. (GAAP)% Change
As Adj.
(Non-GAAP)
U.S. Domestic Package$26,315 $101 $26,214 $27,092 $— $69 $27,023 (2.9)%(3.0)%
International Package7,247 (3)7,250 7,640 — 15 7,625 (5.1)%(4.9)%
Supply Chain Solutions6,097 52 6,045 7,626 — 12 7,614 (20.0)%(20.6)%
Operating expense39,659 150 39,509 42,358 — 96 42,262 (6.4)%(6.5)%
U.S. Domestic Package$3,068 $101 $3,169 $3,491 $— $69 $3,560 (12.1)%(11.0)%
International Package1,711 (3)1,708 2,309 — 15 2,324 (25.9)%(26.5)%
Supply Chain Solutions542 52 594 986 — 12 998 (45.0)%(40.5)%
Operating Profit5,321 150 5,471 6,786 — 96 6,882 (21.6)%(20.5)%
Other Income and (Expense):
Other pension income (expense)132 — 132 629 (33)— 596 (79.0)%(77.9)%
Investment income (expense) and other168 — 168 19 — — 19 784.2 %784.2 %
Interest expense(379)— (379)(345)— — (345)9.9 %9.9 %
Total Other Income (Expense)$(79)$— $(79)$303 $(33)$— $270 N/AN/A
Income Before Income Taxes5,242 150 5,392 7,089 (33)96 7,152 (26.1)%(24.6)%
Income Tax Expense1,266 35 1,301 1,578 (9)221,591 (19.8)%(18.2)%
Net Income$3,976 $115 $4,091 $5,511 $(24)$74 $5,561 (27.9)%(26.4)%
Basic Earnings Per Share$4.62 $0.13 $4.75 $6.31 $(0.03)$0.08 $6.36 (26.8)%(25.3)%
Diluted Earnings Per Share$4.61 $0.13 $4.74 $6.28 $(0.03)$0.08 $6.33 (26.6)%(25.1)%
Weighted-average shares outstanding:
Basic861 874 
Diluted863 878 

(1) Reflects a goodwill impairment charge of $8 million within Supply Chain Solutions, employee benefit benefits costs of $97 million and other costs of $45 million.
(2) Represents the impact of curtailment of benefits effective December 31, 2023, for the Canada LTD Retirement Plan.    
(3) Reflects other employee benefits costs of $56 million and other costs of $40 million.








Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Supplemental Analysis of Currency - Second Quarter
(unaudited)

Reconciliation of Currency Neutral Revenue Per Piece, Revenue and As Adjusted Operating Profit
Three Months EndedCurrency
June 30Neutral
(in millions, except per piece data)
(GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
Average Revenue Per Piece:
International Package:
   Domestic$7.67 $7.61 0.8 %$0.10 $7.77 2.1 %
   Export33.70 36.91 (8.7)%0.23 33.93 (8.1)%
      Total International Package$20.91 $22.17 (5.7)%$0.17 $21.08 (4.9)%
Consolidated$13.92 $13.72 1.5 %$0.03 $13.95 1.7 %
Three Months EndedCurrency
June 30Neutral
(GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
Revenue (in millions):
  U.S. Domestic Package$14,396 $15,459 (6.9)%$— $14,396 (6.9)%
  International Package4,415 5,073 (13.0)%34 4,449 (12.3)%
  Supply Chain Solutions3,244 4,234 (23.4)%3,251 (23.2)%
  Total revenue$22,055 $24,766 (10.9)%$41 $22,096 (10.8)%
Three Months EndedCurrency
June 30Neutral
(Non-GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
As Adjusted Operating Profit (in millions)(2):
  U.S. Domestic Package$1,681 $1,855 (9.4)%$— $1,681 (9.4)%
  International Package902 1,204 (25.1)%32 934 (22.4)%
  Supply Chain Solutions336 517 (35.0)%(3)333 (35.6)%
  Total operating profit$2,919 $3,576 (18.4)%$29 $2,948 (17.6)%

(1) Amounts adjusted for period over period foreign currency exchange rate and hedging differences.
(2) See Non-GAAP schedules for reconciliation of adjustments.




















Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Supplemental Analysis of Currency - Year to Date
(unaudited)

Reconciliation of Currency Neutral Revenue Per Piece, Revenue and As Adjusted Operating Profit
Six Months EndedCurrency
June 30Neutral
(in millions, except per piece data)
(GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
Average Revenue Per Piece:
International Package:
   Domestic$7.63 $7.48 2.0 %$0.32 $7.95 6.3 %
   Export33.34 35.47 (6.0)%0.60 33.94 (4.3)%
      Total International Package$20.69 $21.29 (2.8)%$0.46 $21.15 (0.7)%
Consolidated$13.83 $13.49 2.5 %$0.07 $13.90 3.0 %
Six Months EndedCurrency
June 30Neutral
(GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
Revenue (in millions):
  U.S. Domestic Package$29,383 $30,583 (3.9)%$— $29,383 (3.9)%
  International Package8,958 9,949 (10.0)%195 9,153 (8.0)%
  Supply Chain Solutions6,639 8,612 (22.9)%57 6,696 (22.2)%
  Total revenue$44,980 $49,144 (8.5)%$252 $45,232 (8.0)%
Six Months EndedCurrency
June 30Neutral
(Non-GAAP)(Non-GAAP)
20232022% ChangeCurrency
2023 (1)
% Change
As Adjusted Operating Profit (in millions)(2):
  U.S. Domestic Package$3,169 $3,560 (11.0)%$— $3,169 (11.0)%
  International Package1,708 2,324 (26.5)%83 1,791 (22.9)%
  Supply Chain Solutions594 998 (40.5)%(8)586 (41.3)%
  Total operating profit$5,471 $6,882 (20.5)%$75 $5,546 (19.4)%

(1) Amounts adjusted for period over period foreign currency exchange rate and hedging differences.
(2) See Non-GAAP schedules for reconciliation of adjustments.




















Prior year amounts may have been reclassified to conform to the current year presentation.



United Parcel Service, Inc.
Aircraft Fleet - As of June 30, 2023
(unaudited)

DescriptionOwned and Finance LeasesOperating Leases & Charters from OthersOn OrderUnder Option
Operating:
Boeing 757-20075 — — — 
Boeing 767-30075 — 24 — 
Boeing 767-300BCF— — — 
Boeing 767-300BDSF— — — 
Airbus A300-60052 — — — 
Boeing MD-11(1)
40 — — — 
Boeing 747-400F11 — — — 
Boeing 747-400BCF— — — 
Boeing 747-8F28 — — 
Other— 278 — — 
          Total293 278 26 — 


(1) Three of the MD-11 aircraft shown above have been retired from operational use as of June 30, 2023. We expect to retire an additional two MD-11 aircraft during the remainder of 2023.