Document

Exhibit 99.2

United Parcel Service, Inc.

Selected Financial Data - Second Quarter

(unaudited)


	Three Months Ended
	June 30
	2024			2023			Change		% Change
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
U.S. Domestic Package	$	14,119		$	14,396		$	(277)	(1.9)	%
International Package	4,370			4,415			(45)		(1.0)	%
Supply Chain Solutions	3,329			3,244			85		2.6	%
Total revenue	21,818			22,055			(237)		(1.1)	%

Operating expenses:
U.S. Domestic Package	13,130			12,794			336		2.6	%
International Package	3,652			3,532			120		3.4	%
Supply Chain Solutions	3,092			2,949			143		4.8	%
Total operating expenses	19,874			19,275			599		3.1	%

Operating profit:
U.S. Domestic Package	989			1,602			(613)		(38.3)	%
International Package	718			883			(165)		(18.7)	%
Supply Chain Solutions	237			295			(58)		(19.7)	%
Total operating profit	1,944			2,780			(836)		(30.1)	%

Other income (expense):
Other pension income (expense)	67			66			1		1.5	%
Investment income (expense) and other	70			65			5		7.7	%
Interest expense	(212)			(191)			(21)		11.0	%
Total other income (expense)	(75)			(60)			(15)		25.0	%

Income before income taxes	1,869			2,720			(851)		(31.3)	%

Income tax expense	460			639			(179)		(28.0)	%

Net income	$	1,409		$	2,081		$	(672)	(32.3)	%

Net income as a percentage of revenue	6.5		%	9.4		%

Per share amounts:
Basic earnings per share	$	1.65		$	2.42		$	(0.77)	(31.8)	%
Diluted earnings per share	$	1.65		$	2.42		$	(0.77)	(31.8)	%

Weighted-average shares outstanding:
Basic	856			860			(4)		(0.5)	%
Diluted	857			861			(4)		(0.5)	%

As Adjusted Income Data (1):
Operating profit:
U.S. Domestic Package	$	997		$	1,681		$	(684)	(40.7)	%
International Package	824			902			(78)		(8.6)	%
Supply Chain Solutions	243			336			(93)		(27.7)	%
Total operating profit	2,064			2,919			(855)		(29.3)	%

Total other income (expense)	$	(69)		$	(60)		$	(9)	15.0	%
Income before income taxes	$	1,995		$	2,859		$	(864)	(30.2)	%
Net income	$	1,529		$	2,187		$	(658)	(30.1)	%

Basic earnings per share	$	1.79		$	2.54		$	(0.75)	(29.5)	%
Diluted earnings per share	$	1.79		$	2.54		$	(0.75)	(29.5)	%

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

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Selected Operating Data - Second Quarter

(unaudited)


	Three Months Ended
	June 30
	2024		2023		Change		% Change

Revenue (in millions):
U.S. Domestic Package:
Next Day Air	$	2,309	$	2,407	$	(98)	(4.1)	%
Deferred	1,107		1,169		(62)		(5.3)	%
Ground	10,703		10,820		(117)		(1.1)	%
Total U.S. Domestic Package	14,119		14,396		(277)		(1.9)	%
International Package:
Domestic	770		763		7		0.9	%
Export	3,437		3,468		(31)		(0.9)	%
Cargo and Other	163		184		(21)		(11.4)	%
Total International Package	4,370		4,415		(45)		(1.0)	%
Supply Chain Solutions:
Forwarding	1,315		1,376		(61)		(4.4)	%
Logistics	1,546		1,431		115		8.0	%
Other	468		437		31		7.1	%
Total Supply Chain Solutions	3,329		3,244		85		2.6	%
Consolidated	$	21,818	$	22,055	$	(237)	(1.1)	%

Consolidated volume (in millions)	1,339		1,338		1		0.1	%

Operating weekdays	64		64		—		0.0	%

Average Daily Package Volume (in thousands):
U.S. Domestic Package:
Next Day Air	1,559		1,679		(120)		(7.1)	%
Deferred	991		1,087		(96)		(8.8)	%
Ground	15,314		14,974		340		2.3	%
Total U.S. Domestic Package	17,864		17,740		124		0.7	%
International Package:
Domestic	1,485		1,554		(69)		(4.4)	%
Export	1,584		1,608		(24)		(1.5)	%
Total International Package	3,069		3,162		(93)		(2.9)	%
Consolidated	20,933		20,902		31		0.1	%

Average Revenue Per Piece:
U.S. Domestic Package:
Next Day Air	$	23.14	$	22.40	$	0.74	3.3	%
Deferred	17.45		16.80		0.65		3.9	%
Ground	10.92		11.29		(0.37)		(3.3)	%
Total U.S. Domestic Package	12.35		12.68		(0.33)		(2.6)	%
International Package:
Domestic	8.10		7.67		0.43		5.6	%
Export	33.90		33.70		0.20		0.6	%
Total International Package	21.42		20.91		0.51		2.4	%
Consolidated	$	13.68	$	13.92	$	(0.24)	(1.7)	%

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Detail of Operating Expenses - Second Quarter

(unaudited)


	Three Months Ended
	June 30
	2024		2023		Change		% Change
(in millions)
Compensation and benefits	$	11,503	$	11,196	$	307	2.7	%
Repairs and maintenance	734		682		52		7.6	%
Depreciation and amortization	887		828		59		7.1	%
Purchased transportation	3,273		3,171		102		3.2	%
Fuel	1,126		1,090		36		3.3	%
Other occupancy	492		458		34		7.4	%
Other expenses	1,859		1,850		9		0.5	%
Total operating expenses	$	19,874	$	19,275	$	599	3.1	%

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Selected Financial Data - Year to Date

(unaudited)


	Six Months Ended
	June 30
	2024			2023			Change		% Change
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
U.S. Domestic Package	$	28,353		$	29,383		$	(1,030)	(3.5)	%
International Package	8,626			8,958			(332)		(3.7)	%
Supply Chain Solutions	6,545			6,639			(94)		(1.4)	%
Total revenue	43,524			44,980			(1,456)		(3.2)	%

Operating expenses:
U.S. Domestic Package	26,539			26,315			224		0.9	%
International Package	7,252			7,247			5		0.1	%
Supply Chain Solutions	6,176			6,097			79		1.3	%
Total operating expenses	39,967			39,659			308		0.8	%

Operating profit:
U.S. Domestic Package	1,814			3,068			(1,254)		(40.9)	%
International Package	1,374			1,711			(337)		(19.7)	%
Supply Chain Solutions	369			542			(173)		(31.9)	%
Total operating profit	3,557			5,321			(1,764)		(33.2)	%

Other income (expense):
Other pension income (expense)	134			132			2		1.5	%
Investment income (expense) and other	121			168			(47)		(28.0)	%
Interest expense	(407)			(379)			(28)		7.4	%
Total other income (expense)	(152)			(79)			(73)		92.4	%

Income before income taxes	3,405			5,242			(1,837)		(35.0)	%

Income tax expense	883			1,266			(383)		(30.3)	%

Net income	$	2,522		$	3,976		$	(1,454)	(36.6)	%

Net income as a percentage of revenue	5.8		%	8.8		%

Per share amounts:
Basic earnings per share	$	2.95		$	4.62		$	(1.67)	(36.1)	%
Diluted earnings per share	$	2.94		$	4.61		$	(1.67)	(36.2)	%

Weighted-average shares outstanding:
Basic	856			861			(5)		(0.6)	%
Diluted	857			863			(6)		(0.7)	%

As Adjusted Income Data (1):
Operating profit:
U.S. Domestic Package	$	1,836		$	3,169		$	(1,333)	(42.1)	%
International Package	1,506			1,708			(202)		(11.8)	%
Supply Chain Solutions	469			594			(125)		(21.0)	%
Total operating profit	3,811			5,471			(1,660)		(30.3)	%

Total other income (expense)	$	(146)		$	(79)		$	(67)	84.8	%
Income before income taxes	$	3,665		$	5,392		$	(1,727)	(32.0)	%
Net income	$	2,752		$	4,091		$	(1,339)	(32.7)	%

Basic earnings per share	$	3.21		$	4.75		$	(1.54)	(32.4)	%
Diluted earnings per share	$	3.21		$	4.74		$	(1.53)	(32.3)	%

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

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Selected Operating Data - Year to Date

(unaudited)


	Six Months Ended
	June 30
	2024		2023		Change		% Change

Revenue (in millions):
U.S. Domestic Package:
Next Day Air	$	4,625	$	4,868	$	(243)	(5.0)	%
Deferred	2,263		2,363		(100)		(4.2)	%
Ground	21,465		22,152		(687)		(3.1)	%
Total U.S. Domestic Package	28,353		29,383		(1,030)		(3.5)	%
International Package:
Domestic	1,528		1,557		(29)		(1.9)	%
Export	6,787		7,020		(233)		(3.3)	%
Cargo and Other	311		381		(70)		(18.4)	%
Total International Package	8,626		8,958		(332)		(3.7)	%
Supply Chain Solutions:
Forwarding	2,595		2,890		(295)		(10.2)	%
Logistics	3,088		2,841		247		8.7	%
Other	862		908		(46)		(5.1)	%
Total Supply Chain Solutions	6,545		6,639		(94)		(1.4)	%
Consolidated	$	43,524	$	44,980	$	(1,456)	(3.2)	%

Consolidated volume (in millions)	2,675		2,745		(70)		(2.6)	%

Operating weekdays	127		128		(1)		(0.8)	%

Average Daily Package Volume (in thousands):
U.S. Domestic Package:
Next Day Air	1,574		1,708		(134)		(7.8)	%
Deferred	1,019		1,113		(94)		(8.4)	%
Ground	15,376		15,385		(9)		(0.1)	%
Total U.S. Domestic Package	17,969		18,206		(237)		(1.3)	%
International Package:
Domestic	1,494		1,594		(100)		(6.3)	%
Export	1,602		1,645		(43)		(2.6)	%
Total International Package	3,096		3,239		(143)		(4.4)	%
Consolidated	21,065		21,445		(380)		(1.8)	%

Average Revenue Per Piece:
U.S. Domestic Package:
Next Day Air	$	23.14	$	22.27	$	0.87	3.9	%
Deferred	17.49		16.59		0.90		5.4	%
Ground	10.99		11.25		(0.26)		(2.3)	%
Total U.S. Domestic Package	12.42		12.61		(0.19)		(1.5)	%
International Package:
Domestic	8.05		7.63		0.42		5.5	%
Export	33.36		33.34		0.02		0.1	%
Total International Package	21.15		20.69		0.46		2.2	%
Consolidated	$	13.71	$	13.83	$	(0.12)	(0.9)	%

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Detail of Operating Expenses - Year to Date

(unaudited)


	Six Months Ended
	June 30
	2024		2023		Change		% Change
(in millions)
Compensation and benefits	$	23,142	$	22,660	$	482	2.1	%
Repairs and maintenance	1,452		1,407		45		3.2	%
Depreciation and amortization	1,785		1,662		123		7.4	%
Purchased transportation	6,519		6,712		(193)		(2.9)	%
Fuel	2,186		2,361		(175)		(7.4)	%
Other occupancy	1,056		1,009		47		4.7	%
Other expenses	3,827		3,848		(21)		(0.5)	%
Total operating expenses	$	39,967	$	39,659	$	308	0.8	%

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Consolidated Balance Sheets

June 30, 2024 (unaudited) and December 31, 2023


	June 30, 2024		December 31, 2023
(amounts in millions)

ASSETS
Current Assets:
Cash and cash equivalents	$	6,319	$	3,206
Marketable securities	213		2,866
Accounts receivable	9,174		11,342
Less: Allowance for credit losses	(126)		(126)
Accounts receivable, net	9,048		11,216
Assets Held for Sale	1,183		—
Other current assets	2,060		2,125
Total Current Assets	18,823		19,413
Property, Plant and Equipment, Net	37,129		36,945
Operating Lease Right-Of-Use Assets	4,088		4,308
Goodwill	4,350		4,872
Intangible Assets, Net	3,106		3,305
Deferred Income Tax Assets	123		126
Other Non-Current Assets	1,799		1,888
Total Assets	$	69,418	$	70,857

LIABILITIES AND SHAREOWNERS' EQUITY
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases	$	2,008	$	3,348
Current maturities of operating leases	683		709
Accounts payable	5,299		6,340
Accrued wages and withholdings	3,308		3,224
Self-insurance reserves	1,273		1,320
Accrued group welfare and retirement plan contributions	1,202		1,479
Liabilities to be disposed of	373		—
Other current liabilities	939		1,256
Total Current Liabilities	15,085		17,676
Long-Term Debt and Finance Leases	20,197		18,916
Non-Current Operating Leases	3,561		3,756
Pension and Postretirement Benefit Obligations	6,449		6,159
Deferred Income Tax Liabilities	3,841		3,772
Other Non-Current Liabilities	3,232		3,264

Shareowners' Equity:
Class A common stock	2		2
Class B common stock	7		7
Additional paid-in capital	63		—
Retained earnings	20,765		21,055
Accumulated other comprehensive loss	(3,807)		(3,758)
Deferred compensation obligations	6		9
Less: Treasury stock	(6)		(9)
Total Equity for Controlling Interests	17,030		17,306
Noncontrolling interests	23		8
Total Shareowners' Equity	17,053		17,314
Total Liabilities and Shareowners' Equity	$	69,418	$	70,857

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Statements of Consolidated Cash Flows

(unaudited)


(amounts in millions)		Six Months Ended
		June 30
		2024		2023
Cash Flows From Operating Activities:
	Net income	$	2,522	$	3,976
	Adjustments to reconcile net income to net cash from operating activities:
	Depreciation and amortization	1,785		1,662
	Pension and postretirement benefit expense	518		486
	Pension and postretirement benefit contributions	(150)		(1,328)
	Self-insurance reserves	(39)		64
	Deferred tax (benefit) expense	72		168
	Stock compensation expense	3		165
	Other (gains) losses	166		(19)
	Changes in assets and liabilities, net of effects of business acquisitions:
	Accounts receivable	1,526		2,898
	Other assets	73		187
	Accounts payable	(685)		(1,921)
	Accrued wages and withholdings	137		(535)
	Other liabilities	(619)		(132)
	Other operating activities	—		(77)
	Net cash from operating activities	5,309		5,594

Cash Flows From Investing Activities:
	Capital expenditures	(1,968)		(1,820)
	Proceeds from disposal of businesses, property, plant and equipment	28		50
	Purchases of marketable securities	(52)		(2,970)
	Sales and maturities of marketable securities	2,715		1,903
	Acquisitions, net of cash acquired	(66)		(34)
	Other investing activities	(4)		12
	Net cash from (used in) investing activities	653		(2,859)

Cash Flows From Financing Activities:
	Net change in short-term debt	(1,272)		—
	Proceeds from long-term borrowings	2,785		2,503
	Repayments of long-term borrowings	(1,508)		(1,596)
	Purchases of common stock	—		(1,498)
	Issuances of common stock	131		119
	Dividends	(2,701)		(2,693)
	Other financing activities	(202)		(417)
	Net cash used in financing activities	(2,767)		(3,582)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		(72)		57
		—		—
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		3,123		(790)

Cash, Cash Equivalents and Restricted Cash:
	Beginning of period	3,206		5,602
	End of period	$	6,329	$	4,812

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Reconciliation of Free Cash Flow (Non-GAAP measure)

(unaudited)





(amounts in millions)	Six Months Ended
	June 30
	2024		2023
Cash flows from operating activities	$	5,309	$	5,594
Capital expenditures	(1,968)		(1,820)
Proceeds from disposals of property, plant and equipment	28		50
Other investing activities	(4)		12
Free Cash Flow (Non-GAAP measure)	$	3,365	$	3,836

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

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, 2024		June 30, 2023
Net income	$	5,254	$	10,013
Add back:
Income tax expense	1,482		2,965
Interest expense	815		738
Depreciation & amortization	3,489		3,324
EBITDA	11,040		17,040
Add back (deduct):
Incentive compensation program redesign	—		505
One-time compensation	61		—
Asset impairment charges	276		8
Transformation and other	411		224
Defined benefit plan (gains) and losses	359		(1,028)
Investment income and other pension income	(533)		(1,059)
One-time international regulatory matter	88		—
Adjusted EBITDA	$	11,702	$	15,690

Debt and finance leases, including current maturities	$	22,205	$	20,763
Add back:
Non-current pension and postretirement benefit obligations	6,449		4,635
Adjusted total debt	$	28,654	$	25,398

Adjusted total debt/Net income	5.45		2.54

Adjusted total debt/adjusted EBITDA (Non-GAAP)	2.45		1.62

(1) Trailing twelve months.

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

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, 2024			June 30, 2023
Net income	$	5,254		$	10,013
Add back (deduct):
Income tax expense	1,482			2,965
Interest expense	815			738
Other pension (income) expense	93			(1,754)
Investment (income) expense and other	(267)			(333)
Operating profit	$	7,377		$	11,629
Incentive compensation program redesign	—			505
Long-lived asset estimated residual value changes	—			76
One-time compensation	61			—
Asset impairment charges	276			8
Transformation and other	411			224
One-time international regulatory matter	88			—
Adjusted operating profit	$	8,213		$	12,442

Average debt and finance leases, including current maturities	$	21,484		$	20,670
Average pension and postretirement benefit obligations	5,542			6,489
Average shareowners' equity	18,545			18,174
Average invested capital	$	45,571		$	45,333

Net income to average invested capital	11.5		%	22.1		%

Adjusted Return on Invested Capital (Non-GAAP)	18.0		%	27.4		%

(1) Trailing twelve months.

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers.

United Parcel Service, Inc.

Reconciliation of GAAP and As Adjusted Income Statement Data

(unaudited)


	Three Months Ended June 30,
(in millions, except operating days, average daily volume and per share and per piece data)	2024								2023
	As Reported (GAAP)		One-Time Int'l Regulatory Matter(1)		Transformation & Other Adj.(2)		As Adjusted (Non-GAAP)		As Reported (GAAP)		Transformation & Other Adj.(3)		As Adjusted (Non-GAAP)		% Change As Rep. (GAAP)		% Change As Adj. (Non-GAAP)

Operating Days	64								64

Average Daily Volume (in thousands)
U.S. Domestic Package	17,864								17,740

U.S. Domestic Package	$	13,130	$	—	$	8	$	13,122	$	12,794	$	79	$	12,715	2.6	%	3.2	%
International Package	3,652		88		18		3,546		3,532		19		3,513		3.4	%	0.9	%
Supply Chain Solutions	3,092		—		6		3,086		2,949		41		2,908		4.8	%	6.1	%
Operating expense	19,874		88		32		19,754		19,275		139		19,136		3.1	%	3.2	%

Cost per Piece
U.S. Domestic Package	11.48						11.48		11.27				11.20		1.9	%	2.5	%

U.S. Domestic Package	989		—		8		997		1,602		79		1,681		(38.3)	%	(40.7)	%
International Package	718		88		18		824		883		19		902		(18.7)	%	(8.6)	%
Supply Chain Solutions	237		—		6		243		295		41		336		(19.7)	%	(27.7)	%
Operating Profit	1,944		88		32		2,064		2,780		139		2,919		(30.1)	%	(29.3)	%
Other Income and (Expense):
Other pension income (expense)	67		—		—		67		66		—		66		1.5	%	1.5	%
Investment income (expense) and other	70		—		—		70		65		—		65		7.7	%	7.7	%
Interest expense	(212)		6		—		(206)		(191)		—		(191)		11.0	%	7.9	%
Total Other Income (Expense)	(75)		6		—		(69)		(60)		—		(60)		25.0	%	15.0	%
Income Before Income Taxes	1,869		94		32		1,995		2,720		139		2,859		(31.3)	%	(30.2)	%
Income Tax Expense	460		—		6		466		639		33		672		(28.0)	%	(30.7)	%
Net Income	$	1,409	$	94	$	26	$	1,529	$	2,081	$	106	$	2,187	(32.3)	%	(30.1)	%

Basic Earnings Per Share	$	1.65	$	0.11	$	0.03	$	1.79	$	2.42	$	0.12	$	2.54	(31.8)	%	(29.5)	%

Diluted Earnings Per Share	$	1.65	$	0.11	$	0.03	$	1.79	$	2.42	$	0.12	$	2.54	(31.8)	%	(29.5)	%

Weighted-average shares outstanding:
Basic	856								860
Diluted	857								861

(1) Reflects a one-time payment for an international regulatory matter and related interest of $94 million.

(2) Reflects other employee benefits costs of $20 million and $12 million of other costs, including a one-time expense related to a regulatory matter.

(3) Reflects other employee benefits costs of $109 million and other costs of $30 million.

Prior year amounts may have been reclassified to conform to the current year presentation. Certain amounts are calculated based on unrounded numbers. Earnings Per Share amounts disclosed above may not cross-foot due to calculations based on unrounded numbers.

United Parcel Service, Inc.

Reconciliation of GAAP and As Adjusted Income Statement Data

(unaudited)


	Six Months Ended June 30,
(in millions, except operating days, average daily volume and per share and per piece data)	2024										2023
	As Reported (GAAP)		One-Time Int'l Regulatory Matter(1)		Asset Impairment Charges(2)		Transformation & Other Adj.(3)		As Adjusted (Non-GAAP)		As Reported (GAAP)		Asset Impairment Charges(4)		Transformation & Other Adj.(5)		As Adjusted (Non-GAAP)		% Change As Rep. (GAAP)		% Change As Adj. (Non-GAAP)

Operating Days	127										128

Average Daily Volume (in thousands)
U.S. Domestic Package	17,969										18,206

U.S. Domestic Package	$	26,539	$	—	$	5	$	17	$	26,517	$	26,315	$	—	$	101	$	26,214	0.9	%	1.2	%
International Package	7,252		88		2		42		7,120		7,247		—		(3)		7,250		0.1	%	(1.8)	%
Supply Chain Solutions	6,176		—		41		59		6,076		6,097		8		44		6,045		1.3	%	0.5	%
Operating expense	39,967		88		48		118		39,713		39,659		8		142		39,509		0.8	%	0.5	%

Cost per Piece
U.S. Domestic Package	11.63								11.62		11.29						11.25		3.0	%	3.3	%

U.S. Domestic Package	1,814		—		5		17		1,836		3,068		—		101		3,169		(40.9)	%	(42.1)	%
International Package	1,374		88		2		42		1,506		1,711		—		(3)		1,708		(19.7)	%	(11.8)	%
Supply Chain Solutions	369		—		41		59		469		542		8		44		594		(31.9)	%	(21.0)	%
Operating Profit	3,557		88		48		118		3,811		5,321		8		142		5,471		(33.2)	%	(30.3)	%
Other Income and (Expense):
Other pension income (expense)	134		—		—		—		134		132		—		—		132		1.5	%	1.5	%
Investment income (expense) and other	121		—		—		—		121		168		—		—		168		(28.0)	%	(28.0)	%
Interest expense	(407)		6		—		—		(401)		(379)		—		—		(379)		7.4	%	5.8	%
Total Other Income (Expense)	(152)		6		—		—		(146)		(79)		—		—		(79)		92.4	%	84.8	%
Income Before Income Taxes	3,405		94		48		118		3,665		5,242		8		142		5,392		(35.0)	%	(32.0)	%
Income Tax Expense	883		—		13		17		913		1,266		2		33		1,301		(30.3)	%	(29.8)	%
Net Income	$	2,522	$	94	$	35	$	101	$	2,752	$	3,976	$	6	$	109	$	4,091	(36.6)	%	(32.7)	%

Basic Earnings Per Share	$	2.95	$	0.11	$	0.04	$	0.11	$	3.21	$	4.62	$	0.01	$	0.12	$	4.75	(36.1)	%	(32.4)	%

Diluted Earnings Per Share	$	2.94	$	0.11	$	0.04	$	0.12	$	3.21	$	4.61	$	0.01	$	0.12	$	4.74	(36.2)	%	(32.3)	%

Weighted-average shares outstanding:
Basic	856										861
Diluted	857										863

(1) Reflects a one-time payment for an international regulatory matter and related interest of $94 million.

(2) Reflects impairment charges of $41 million for acquired trade names within Supply Chain Solutions and $7 million for software licenses.

(3) Reflects other employee benefits costs of $51 million and $67 million of other costs, including a one-time expense related to a regulatory matter.

(4) Reflects a goodwill impairment charge of $8 million within Supply Chain Solutions.

(5) Reflects other employee benefit benefits costs of $97 million and other costs of $45 million.

United Parcel Service, Inc.

Aircraft Fleet - As of June 30, 2024

(unaudited)


Description	UPS Owned and/or Operated	Charters & Leases Operated by Others	On Order	Under Option
Operating:
Boeing 757-200	75	—	—	—
Boeing 767-300	80	—	19	—
Boeing 767-300BCF	6	—	—	—
Boeing 767-300BDSF	4	—	—	—
Airbus A300-600	52	—	—	—
Boeing MD-11(1)	36	—	—	—
Boeing 747-400F	11	—	—	—
Boeing 747-400BCF	2	—	—	—
Boeing 747-8F	30	—	—	—
Other	—	253	—	—
Total	296	253	19	—

(1) Seven (7) of the MD-11 aircraft shown above have been retired from operational use as of June 30, 2024. We do not anticipate retiring any additional MD-11 aircraft in 2024.