| QUARTERLY INFORMATION (unaudited) |
QUARTERLY INFORMATION (UNAUDITED)
Our segment revenue, segment operating profit, other income and (expense), net income (loss), basic and diluted earnings (loss) per share on a quarterly basis are presented below (in millions, except per share amounts):
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
| Revenue: |
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| U.S. Domestic Package |
$ |
11,456 |
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$ |
10,480 |
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$ |
13,074 |
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$ |
11,150 |
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$ |
13,225 |
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$ |
11,455 |
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$ |
15,744 |
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$ |
13,408 |
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| International Package |
3,383 |
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3,459 |
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3,705 |
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3,505 |
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4,087 |
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3,494 |
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4,770 |
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3,762 |
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| Supply Chain & Freight |
3,196 |
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3,221 |
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3,680 |
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3,393 |
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3,926 |
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3,369 |
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4,382 |
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3,398 |
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| Total revenue |
18,035 |
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17,160 |
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20,459 |
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18,048 |
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21,238 |
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18,318 |
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24,896 |
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20,568 |
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| Operating Profit (Loss): |
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| U.S. Domestic Package |
364 |
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666 |
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1,182 |
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1,208 |
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1,098 |
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1,216 |
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1,247 |
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1,074 |
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| International Package |
551 |
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528 |
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771 |
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663 |
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966 |
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667 |
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1,148 |
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799 |
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| Supply Chain & Freight |
157 |
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200 |
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259 |
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272 |
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299 |
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245 |
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(358) |
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260 |
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| Total operating profit |
1,072 |
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1,394 |
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2,212 |
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2,143 |
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2,363 |
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2,128 |
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2,037 |
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2,133 |
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| Total Other Income and (Expense) |
$ |
178 |
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$ |
46 |
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$ |
145 |
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$ |
61 |
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$ |
162 |
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$ |
78 |
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$ |
(6,325) |
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$ |
(2,331) |
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| Net Income (Loss) |
$ |
965 |
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$ |
1,111 |
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$ |
1,768 |
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$ |
1,685 |
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$ |
1,957 |
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$ |
1,750 |
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$ |
(3,347) |
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$ |
(106) |
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| Net Income (Loss) Per Share: |
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| Basic Earnings (Loss) Per Share |
$ |
1.12 |
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$ |
1.28 |
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$ |
2.04 |
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$ |
1.95 |
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$ |
2.25 |
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$ |
2.03 |
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$ |
(3.84) |
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$ |
(0.12) |
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| Diluted Earnings (Loss) Per Share |
$ |
1.11 |
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$ |
1.28 |
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$ |
2.03 |
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$ |
1.94 |
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$ |
2.24 |
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$ |
2.01 |
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$ |
(3.84) |
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$ |
(0.12) |
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Our quarterly results were impacted by restructuring and other costs, legal contingencies and expenses and defined benefit plans mark-to-market charges. The table below presents the impact on operating profit and other income and (expense) for each period (in millions, except per share amounts):
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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| Impact to Operating Profit |
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| Restructuring & Other - Employee Benefits |
$ |
12 |
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$ |
106 |
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$ |
81 |
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$ |
2 |
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$ |
18 |
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$ |
41 |
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$ |
100 |
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$ |
17 |
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| Restructuring & Other - Other Costs |
33 |
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17 |
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31 |
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19 |
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26 |
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22 |
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47 |
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31 |
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| Restructuring & Other - Impairment Charges |
— |
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— |
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— |
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— |
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— |
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— |
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686 |
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— |
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| Legal Contingencies and Expenses |
— |
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— |
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— |
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— |
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— |
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— |
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— |
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97 |
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| Allocation of Matters Impacting Operating Profit to Segments |
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| U.S. Domestic Package |
$ |
37 |
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$ |
28 |
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$ |
33 |
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$ |
18 |
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$ |
35 |
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$ |
26 |
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$ |
132 |
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$ |
133 |
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| International Package |
7 |
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84 |
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71 |
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2 |
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6 |
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26 |
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12 |
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10 |
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| Supply Chain & Freight |
1 |
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11 |
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8 |
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1 |
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3 |
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11 |
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689 |
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2 |
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| Impact to Other Income and (Expense) |
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| Defined Benefit Plans Mark-to-Market Charges |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
6,484 |
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$ |
2,387 |
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