United Parcel Service, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

NOTE 16. EARNINGS PER SHARE

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 (in millions, except per share amounts):


	2024		2023		2022
Numerator:
Net income attributable to common shareowners	$	5,782	$	6,708	$	11,548
Denominator:
Weighted-average shares	854		855		868
Deferred compensation obligations	—		—		—
Vested portion of restricted shares	1		4		3
Denominator for basic earnings per share	855		859		871
Effect of Dilutive Securities:
Restricted performance units and contingent shares(1)	1		1		3
Stock options	—		—		1
Denominator for diluted earnings per share	856		860		875
Basic Earnings Per Share	$	6.76	$	7.81	$	13.26
Diluted Earnings Per Share	$	6.75	$	7.80	$	13.20

(1) Contingent shares relate to MIP awards that may be settled in cash or Class A common stock at the employees' election - see note 13.

Diluted earnings per share for the years ended December 31, 2024, 2023 and 2022 exclude the effect of 0.5, 0.3 and 0.1 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.