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United Parcel Service Inc (UPS) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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United Parcel Service Inc

HISTORY TOOLS
CIK: 1090727 Ticker: UPS

Exhibit 99.1
For Immediate Release

UPS RELEASES 4Q 2021 EARNINGS

•Consolidated Revenues of $27.8B, Up 11.5% from Last Year
•Consolidated Operating Profit of $3.9B, Up 91.0% from Last Year; Up 37.7% on an Adjusted* Basis
•Diluted EPS of $3.52; Adjusted Diluted EPS Up 35.0% Over Last Year to $3.59
•UPS Board of Directors Declares Quarterly Dividend of $1.52, a Per-Share Increase
of 49% Over the Prior Year

ATLANTA – February 1, 2022 – UPS (NYSE:UPS) today announced fourth-quarter 2021 consolidated revenue of $27.8 billion, an 11.5% increase over the fourth quarter of 2020. Consolidated operating profit was $3.9 billion, up 91.0% compared to the fourth quarter of 2020, and up 37.7% on an adjusted basis. Diluted earnings per share were $3.52 for the quarter; adjusted diluted earnings per share were 35.0% above the same period in 2020.

For the fourth quarter of 2021, GAAP results include a total charge of $59 million, or $0.07 per diluted share, comprised of a non-cash, after-tax mark-to-market (MTM) pension charge of $14 million and after-tax transformation and other charges of $45 million.

“I want to thank all UPSers for their outstanding efforts throughout the holiday season and for once again delivering industry-leading service to our customers.” said Carol Tomé, UPS chief executive officer. “The execution of our strategy is delivering positive financial results and driving strong momentum as we move into 2022.”


U.S. Domestic Segment

4Q 2021
Adjusted
4Q 2021

4Q 2020
Adjusted
4Q 2020
Revenue$17,697M$15,744M
Operating profit$2,103M$2,165M$1,247M$1,379M

•Revenue was up 12.4%, driven by a 10.5% increase in revenue per piece.
•Operating margin was 11.9%; adjusted operating margin was 12.2%.

International Segment

4Q 2021
Adjusted
4Q 2021

4Q 2020
Adjusted
4Q 2020
Revenue$5,397M$4,770M
Operating profit$1,326M$1,331M$1,148M$1,160M

•Revenue increased 13.1%, driven by a 16.4% increase in revenue per piece.
•Operating margin was 24.6%; adjusted operating margin was 24.7%.











The following information was filed by United Parcel Service Inc (UPS) on Tuesday, February 1, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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United Parcel Service Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside United Parcel Service Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Statements Of Consolidated Cash Flows
Statements Of Consolidated Comprehensive Income
Statements Of Consolidated Income
Assets Held For Sale
Assets Held For Sale (Tables)
Assets Held For Sale - Additional Information (Details)
Assets Held For Sale - Summarizes Carrying Values Of Assets And Liabilities Classified As Held For Sale (Details)
Business Acquisitions
Business Acquisitions (Tables)
Business Acquisitions - Fair Value Of Assets And Liabilities Acquired (Details)
Business Acquisitions - Narrative (Details)
Company-Sponsored Employee Benefit Plans
Company-Sponsored Employee Benefit Plans (Tables)
Company-Sponsored Employee Benefit Plans - Additional Information (Detail)
Company-Sponsored Employee Benefit Plans - Expected Cash Flows For Pension And Postretirement Benefit Plans (Detail)
Company-Sponsored Employee Benefit Plans - Fair Value Measurement Of Plan Assets Using Unobservable Inputs (Detail)
Company-Sponsored Employee Benefit Plans - Fair Values Of U.S. Pension And Postretirement Benefit Plan Assets By Asset Category As Well As The Percentage That Each Category Comprises Of Total Plan Assets And The Respective Target Allocations (Detail)
Company-Sponsored Employee Benefit Plans - Funded Status As Of The Respective Measurement Dates In Each Year And The Amounts Recognized In Balance Sheet (Detail)
Company-Sponsored Employee Benefit Plans - Net Periodic Benefit Cost For Company Sponsored Pension And Postretirement Benefit Plans (Detail)
Company-Sponsored Employee Benefit Plans - Projected Benefit Obligation, Accumulated Benefit Obligation, And Fair Value Of Plan Assets For Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (Detail)
Company-Sponsored Employee Benefit Plans - Reconciliation Of The Changes In The Plans' Benefit Obligations And Fair Value Of Plan Assets (Detail)
Company-Sponsored Employee Benefit Plans - Weighted Average Actuarial Assumptions Used To Determine The Benefit Obligations (Detail)
Company-Sponsored Employee Benefit Plans - Weighted Average Actuarial Assumptions Used To Determine The Net Periodic Benefit Cost (Detail)
Company-Sponsored Employee Benefit Plans Company-Sponsored Employee Benefit Plans - Effects Of One Basis Point Change On Projected Benefit Obligation (Details)
Compensation Related Costs, Postemployment Benefits
Debt And Financing Arrangements
Debt And Financing Arrangements (Tables)
Debt And Financing Arrangements - Additional Information (Detail)
Debt And Financing Arrangements - Aggregate Minimum Lease Payments, Annual Principal Payments And Amounts Expected To Be Spent For Purchase Commitments (Detail)
Debt And Financing Arrangements - Carrying Value Of Debt Obligations (Detail)
Debt And Financing Arrangements Debt And Financing Arrangements - Average Interest Rate (Details)
Derivative Instruments And Risk Management
Derivative Instruments And Risk Management (Tables)
Derivative Instruments And Risk Management - Additional Information (Detail)
Derivative Instruments And Risk Management - Amount And Location In The Income Statement For Derivatives Designated As Fair Value Hedges (Detail)
Derivative Instruments And Risk Management - Amount And Location In The Income Statement For Derivatives Designed As Cash Flow Hedges (Detail)
Derivative Instruments And Risk Management - Amount Recorded In Income Statements For Foreign Currency Forward Contracts Not Designated As Hedges (Detail)
Derivative Instruments And Risk Management - Balance Sheet Location Of Derivative Assets And Liabilities And Their Related Fair Values (Detail)
Derivative Instruments And Risk Management - Notional Amounts Of Outstanding Derivative Positions (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Allocation Of Goodwill By Reportable Segment (Detail)
Goodwill And Intangible Assets - Summary Of Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Deferred Tax Liabilities And Assets (Detail)
Income Taxes - Income Before Income Taxes (Detail)
Income Taxes - Income Tax Expense Benefit (Detail)
Income Taxes - Reconciliation Of Statutory Federal Income Tax Rate To Effective Income Tax Rate (Detail)
Income Taxes - Summarized Activity Related To Unrecognized Tax Benefits (Detail)
Income Taxes - U.S. State And Local Operating Loss And Credit Carryforwards (Detail)
Investments And Restricted Cash
Investments And Restricted Cash (Tables)
Investments And Restricted Cash - Additional Information (Detail)
Investments And Restricted Cash - Age Of Gross Unrealized Losses And Fair Value By Investment Category (Detail)
Investments And Restricted Cash - Cash Details (Details)
Investments And Restricted Cash - Summary Of Marketable Securities (Detail)
Investments And Restructured Cash - Amortized Cost And Estimated Fair Value Of Marketable Securities By Contractual Maturity (Detail)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Schedule After Adoption (Details)
Leases - Narratives (Details)
Leases - Supplemental Balance Sheet (Details)
Leases - Supplemental Cash Flow Disclosures (Details)
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies Legal Proceedings And Contingencies (Details)
Multiemployer Employee Benefit Plans (Tables)
Multiemployer Employee Benefit Plans - Multi-Employer Health And Welfare Plans (Detail)
Multiemployer Employee Benefit Plans - Ups's Participation In Multiemployer Plans (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Detail)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Narratives (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition - Narratives (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Additional Information (Detail)
Segment And Geographic Information - Geographic Information (Detail)
Segment And Geographic Information - Revenue By Product Type (Detail)
Segment And Geographic Information - Segment Information (Detail)
Shareowners' Equity
Shareowners' Equity (Tables)
Shareowners' Equity - Activity In Accumulated Other Comprehensive Income (Loss) (Detail)
Shareowners' Equity - Activity In Accumulated Other Comprehensive Income (Loss) (Phantom) (Detail)
Shareowners' Equity - Activity In Deferred Compensation Program (Detail)
Shareowners' Equity - Additional Information (Detail)
Shareowners' Equity - Roll-Forward Of Common Stock, Additional Paid-In Capital, And Retained Earnings Accounts (Detail)
Shareowners' Equity - Roll-Forward Of Common Stock, Additional Paid-In Capital, And Retained Earnings Accounts (Phantom) (Detail)
Shareowners' Equity Shareowners' Equity - Reclassification From Aoci (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Fair Value Of Employee Stock Options Granted As Determined By Black-Scholes Valuation Model Assumptions (Detail)
Stock-Based Compensation - Options To Purchase Shares Of Class A Common Stock Issued And Outstanding (Detail)
Stock-Based Compensation - Restricted Stock Units Outstanding, Including Reinvested Dividends (Detail)
Subsequent Events
Subsequent Events (Details)
Summary Of Accounting Policies
Summary Of Accounting Policies (Policies)
Summary Of Accounting Policies - Additional Information (Detail)
Transformation Strategy
Transformation Strategy Costs (Tables)
Transformation Strategy Transformation Strategy Costs (Details)
Ticker: UPS
CIK: 1090727
Form Type: 10-K Annual Report
Accession Number: 0001090727-22-000007
Submitted to the SEC: Tue Feb 22 2022 6:14:14 AM EST
Accepted by the SEC: Tue Feb 22 2022
Period: Friday, December 31, 2021
Industry: Trucking And Courier Services No Air

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