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, 2024

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, 2024 and 2023 (in millions, except per share amounts):


	Three Months Ended March 31,
		2024		2023
Numerator:
Net income attributable to common shareowners		$	1,113	$	1,895
Denominator:
Weighted-average shares		853		858

Vested portion of restricted shares		3		4
Denominator for basic earnings per share		856		862
Effect of dilutive securities:
Restricted performance units		—		2
Stock options		1		1
Denominator for diluted earnings per share		857		865
Basic earnings per share(1)		$	1.30	$	2.20
Diluted earnings per share(1)		$	1.30	$	2.19

(1) Earnings per share is computed using unrounded amounts.

Diluted earnings per share for the three months ended March 31, 2024 and 2023 excluded the effect of 0.5 and 0.2 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would be antidilutive.