UPS Income Statement: Revenue, Expenses, and Net Income for

School: Liberty University - Course: ACCT 211 - Subject: Accounting

UNITED PARCEL SERVICE (UPS) INCOME STATEMENT FOR THE YEARS ENDED DECEMBER 31, 2021,2020, AND 2019 STATEMENTS OF CONSOLIDATED INCOME - USD ($) $ in Millions Dec. 31, 2021Dec. 31, 2020 Revenue$ 97,287$ 84,628 Operating Expenses: Compensation and benefits46,70744,529 Repairs and Maintenance2,4432,365 Depreciation and amortization2,9532,698 Purchased Transportation19,05815,631 Fuel3,8472,582 Other occupancy1,6981,539 Other expenses7,7717,600 Total Operating Expenses84,47776,944 Operating Profit12,8107,684 Other Income and (Expense): Investment income (expense) and other4,479(5,139) Interest expense(694)(701) Total Other Income and (Expense)3,785(5,840) Income Before Income Taxes16,5951,844 Income Tax Expense3,705501 Net Income$ 12,890$ 1,343 Basic Earnings Per Share (in dollars per share)$ 14.75$ 1.55 Diluted Earnings Per Share (in dollars per share)$ 14.68$ 1.54 Dec. 31, 2019 $ 74,094 38,908 1,838 2,360 12,590 3,289 1,392 5,919 66,296 7,798 (1,493) (653) (2,146) 5,652 1,212 $ 4,440 $ 5.14 $ 5.11 UNITED PARCEL SERVICE (UPS) BALANCE SHEET AS OF DECEMBER 31, 2021, 2020, AND 2019 CONSOLIDATED BALANCE SHEETS - USD ($) $ in MillionsDec. 31, 2021 Current Assets: Cash and cash equivalents$ 10,255 Marketable securities338 Accounts receivable12,669 Less: Allowance for credit losses(128) Accounts receivable, net12,541 Assets held for sale0 Other current assets1,800 Total Current Assets24,934 Property, Plant and Equipment, Net33,475 Operating Lease Right-Of-Use Assets3,562 Goodwill3,692 Intangible Assets, Net2,486 Investments and Restricted Cash26 Deferred Income Tax Assets176 Other Non-Current Assets1,054 Total Long Term Assets44,471 Total Assets 69,405 Current Liabilities: Current maturities of long-term debt, commercial paper and finance leases2,131 Current maturities of operating leases580 Accounts payable7,523 Accrued wages and withholdings3,819 Self-insurance reserves1,048 Accrued group welfare and retirement plan contributions1,038 Liabilities to be disposed of0 Other current liabilities1,430 Total Current Liabilities17,569 Long-Term Debt and Finance Leases19,784 Non-Current Operating Leases3,033 Pension and Postretirement Benefit Obligations8,047 Deferred Income Tax Liabilities3,125 Other Non-Current Liabilities3,578 Total Long Term Liabilities37,567 55,136 Shareowners' Equity: Common stock -A2 Common stock7 Additional paid-in capital1,343 Retained earnings16,179 Accumulated other comprehensive loss(3,278) Deferred compensation obligations16 Less: Treasury stock (0.3 shares in 2021 and 0.4 shares in 2020)(16) Total Equity for Controlling Interests14,253 Noncontrolling Interests16 Total Shareowners' Equity14,269 Total Liabilities and Shareowners' Equity$69,405