United Parcel Service, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS (Tables)

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

The following is a summary of marketable securities classified as trading and available for sale as of March 31, 2025 and December 31, 2024 (in millions):


	Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
March 31, 2025:
Current trading marketable securities:




Equity securities	$	3	$	—	$	(1)	$	2



Total trading marketable securities	3		—		(1)		2

Current available-for-sale securities:
U.S. government and agency debt securities	138		1		—		139

Corporate debt securities	122		—		—		122





Total available-for-sale marketable securities	260		1		—		261

Total current marketable securities	$	263	$	1	$	(1)	$	263

	Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
December 31, 2024:
Current trading marketable securities:




Equity securities	$	3	$	—	$	—	$	3



Total trading marketable securities	3		—		—		3

Current available-for-sale securities:
U.S. government and agency debt securities	165		—		(1)		164

Corporate debt securities	39		—		—		39





Total available-for-sale marketable securities	204		—		(1)		203

Total current marketable securities	$	207	$	—	$	(1)	$	206

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of marketable securities as of March 31, 2025 by contractual maturity are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations with or without prepayment penalties.


	Cost		Estimated Fair Value
Due in one year or less	$	253	$	254
Due after one year through three years	7		7
Due after three years through five years	—		—
Due after five years	—		—
	260		261
Equity securities	3		2
	$	263	$	263

Fair Value, Assets Measured on Recurring Basis

The following table presents information about our investments measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions):


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
March 31, 2025:
Marketable Securities:
U.S. government and agency debt securities	$	139	$	—	$	—	$	139

Corporate debt securities	115		7		—		122

Equity securities	—		2		—		2



Total marketable securities	254		9		—		263
Other non-current investments(1)	—		19		—		19
Total	$	254	$	28	$	—	$	282

(1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan.



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
December 31, 2024:
Marketable Securities:
U.S. government and agency debt securities	$	164	$	—	$	—	$	164

Corporate debt securities	25		14		—		39

Equity securities	—		3		—		3



Total marketable securities	189		17		—		206
Other non-current investments(1)	—		19		—		19
Total	$	189	$	36	$	—	$	225

(1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan.