United Parcel Service, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in millions, except per share amounts):


	Three Months Ended March 31,
	2021		2020
Numerator:
Net income attributable to common shareowners	$	4,792	$	965
Denominator:
Weighted average shares	867		858

Vested portion of restricted units	5		6
Denominator for basic earnings per share	872		864
Effect of dilutive securities:
Restricted units	3		5
Stock options	1		—
Denominator for diluted earnings per share	876		869
Basic earnings per share	$	5.50	$	1.12
Diluted earnings per share	$	5.47	$	1.11

Diluted earnings per share for the three months ended March 31, 2021 and 2020 excluded the effect of 0.2 and 1.2 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would have been antidilutive.