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, 2023

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, 2023 and 2022 (in millions, except per share amounts):


	Three Months Ended March 31,
		2023		2022
Numerator:
Net income attributable to common shareowners		$	1,895	$	2,662
Denominator:
Weighted average shares		858		871

Vested portion of restricted units		4		3
Denominator for basic earnings per share		862		874
Effect of dilutive securities:
Restricted units		2		4
Stock options		1		1
Denominator for diluted earnings per share		865		879
Basic earnings per share		$	2.20	$	3.05
Diluted earnings per share		$	2.19	$	3.03

Diluted earnings per share for the three months ended March 31, 2023 and 2022 excluded the effect of 0.2 and 0.1 million shares of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.