Annual report pursuant to Section 13 and 15(d)

QUARTERLY INFORMATION (unaudited)

v3.6.0.2
QUARTERLY INFORMATION (unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY INFORMATION (unaudited)
QUARTERLY INFORMATION (UNAUDITED)
Our revenue, segment operating profit, net income, basic and diluted earnings per share on a quarterly basis are presented below (in millions, except per share amounts):
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Domestic Package
$
9,084

 
$
8,814

 
$
9,015

 
$
8,808

 
$
9,289

 
$
8,860

 
$
10,913

 
$
10,265

International Package
2,914

 
2,970

 
3,077

 
3,045

 
3,024

 
2,959

 
3,335

 
3,175

Supply Chain & Freight
2,420

 
2,193

 
2,537

 
2,242

 
2,615

 
2,418

 
2,683

 
2,614

Total revenue
14,418

 
13,977

 
14,629

 
14,095

 
14,928

 
14,237

 
16,931

 
16,054

Operating Profit (Loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Domestic Package
1,102

 
1,024

 
1,233

 
1,201

 
1,252

 
1,258

 
(570
)
 
1,284

International Package
574

 
498

 
613

 
552

 
576

 
507

 
281

 
580

Supply Chain & Freight
147

 
151

 
192

 
207

 
206

 
219

 
(139
)
 
187

Total operating profit
1,823

 
1,673

 
2,038

 
1,960

 
2,034

 
1,984

 
(428
)
 
2,051

Net Income
$
1,131

 
$
1,026

 
$
1,269

 
$
1,230

 
$
1,270

 
$
1,257

 
$
(239
)
 
$
1,331

Net Income Per Share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
1.27

 
$
1.13

 
$
1.43

 
$
1.37

 
$
1.44

 
$
1.40

 
$
(0.27
)
 
$
1.49

Diluted
$
1.27

 
$
1.12

 
$
1.43

 
$
1.35

 
$
1.44

 
$
1.39

 
$
(0.27
)
 
$
1.48


Operating profit for the quarter ended December 31, 2016 was impacted by a mark-to-market loss of $2.651 billion on our pension and postretirement benefit plans related to the remeasurement of plan assets and liabilities recognized outside of a 10% corridor (allocated as follows—U.S. Domestic Package $1.908 billion, International Package $425 million and Supply Chain & Freight $318 million). This loss reduced fourth quarter net income by $1.673 billion, and basic and diluted earnings per share by $1.91.
Operating profit for the quarter ended December 31, 2015 was impacted by a mark-to-market loss of $118 million on our pension and postretirement benefit plans related to the remeasurement of plan assets and liabilities recognized outside of a 10% corridor (allocated as follows—U.S. Domestic Package $62 million, International Package $44 million and Supply Chain & Freight $12 million). This loss reduced net income by $79 million, and basic and diluted earnings per share by $0.09