Annual report pursuant to Section 13 and 15(d)

QUARTERLY INFORMATION (unaudited) (Tables)

v3.20.4
QUARTERLY INFORMATION (unaudited) (Tables)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information
Our segment revenue, segment operating profit, other income and (expense), net income (loss), basic and diluted earnings (loss) per share on a quarterly basis are presented below (in millions, except per share amounts):
  First Quarter Second Quarter Third Quarter Fourth Quarter
  2020 2019 2020 2019 2020 2019 2020 2019
Revenue:
U.S. Domestic Package $ 11,456  $ 10,480  $ 13,074  $ 11,150  $ 13,225  $ 11,455  $ 15,744  $ 13,408 
International Package 3,383  3,459  3,705  3,505  4,087  3,494  4,770  3,762 
Supply Chain & Freight 3,196  3,221  3,680  3,393  3,926  3,369  4,382  3,398 
Total revenue 18,035  17,160  20,459  18,048  21,238  18,318  24,896  20,568 
Operating Profit (Loss):
U.S. Domestic Package 364  666  1,182  1,208  1,098  1,216  1,247  1,074 
International Package 551  528  771  663  966  667  1,148  799 
Supply Chain & Freight 157  200  259  272  299  245  (358) 260 
Total operating profit 1,072  1,394  2,212  2,143  2,363  2,128  2,037  2,133 
Total Other Income and (Expense) $ 178  $ 46  $ 145  $ 61  $ 162  $ 78  $ (6,325) $ (2,331)
Net Income (Loss) $ 965  $ 1,111  $ 1,768  $ 1,685  $ 1,957  $ 1,750  $ (3,347) $ (106)
Net Income (Loss) Per Share:
Basic Earnings (Loss) Per Share $ 1.12  $ 1.28  $ 2.04  $ 1.95  $ 2.25  $ 2.03  $ (3.84) $ (0.12)
Diluted Earnings (Loss) Per Share $ 1.11  $ 1.28  $ 2.03  $ 1.94  $ 2.24  $ 2.01  $ (3.84) $ (0.12)
Our quarterly results were impacted by restructuring and other costs, legal contingencies and expenses and defined benefit plans mark-to-market charges. The table below presents the impact on operating profit and other income and (expense) for each period (in millions, except per share amounts):
First Quarter Second Quarter Third Quarter Fourth Quarter
2020 2019 2020 2019 2020 2019 2020 2019
Impact to Operating Profit
Restructuring & Other - Employee Benefits $ 12  $ 106  $ 81  $ $ 18  $ 41  $ 100  $ 17 
Restructuring & Other - Other Costs 33  17  31  19  26  22  47  31 
Restructuring & Other - Impairment Charges —  —  —  —  —  —  686  — 
Legal Contingencies and Expenses —  —  —  —  —  —  —  97 
Allocation of Matters Impacting Operating Profit to Segments
U.S. Domestic Package $ 37  $ 28  $ 33  $ 18  $ 35  $ 26  $ 132  $ 133 
International Package 84  71  26  12  10 
Supply Chain & Freight 11  11  689 
Impact to Other Income and (Expense)
Defined Benefit Plans Mark-to-Market Charges $ —  $ —  $ —  $ —  $ —  $ —  $ 6,484  $ 2,387