ADDED
See definitions of "large accelerated filer", "accelerated filer", "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
As of February 2, 2026, there were 105,245,883 outstanding shares of class A common stock and 743,855,831 outstanding shares of class B common stock.
Management s Discussion and Analysis of Financial Condition and Results of Operations 23 Overview 23 Supplemental Information - Items Affecting Comparability 25 U.S.
Domestic Package Operations 30 International Package Operations 33 Supply Chain Solutions ("SCS") Operations 35 Consolidated Operating Expenses 37 Other Income and (Expense) 40 Income Tax Expense 41 Liquidity and Capital Resources 42 Collective Bargaining Agreements 47 New Accounting Pronouncements 47 Critical Accounting Estimates 48 Item 7A.
Form 10-K Summary 130 PART I Introductory Note In this Annual Report on Form 10-K ("Annual Report" and "this report"), the "Company," "we," "us" and "our" refer to United Parcel Service, Inc.
With regard to the Company s segments, "we," "us" and "our" may also refer to the segment being discussed.
Unless the context indicates otherwise, whenever we refer in this Annual Report to a particular year, we mean our calendar year ended or ending December 31.
Business Overview UPS, founded in 1907, is a global package delivery and logistics provider.
In 2025, we delivered an average of 20.8 million packages per day, totaling 5.2 billion packages during the year.
Strategy We are continuing to execute our Customer First, People Led, Innovation Driven strategy, which focuses on growing in the parts of our market that value our end-to-end solutions, including healthcare, business-to-business ("B2B"), small- and medium-sized businesses ("SMBs"), and international.
REMOVED
See definitions of large accelerated filer , accelerated filer , smaller reporting company, and "emerging growth company" in Rule 12b-2 of the Exchange Act.
As of February 3, 2025, there were 114,298,155 outstanding shares of class A common stock and 739,873,795 outstanding shares of class B common stock.
Management s Discussion and Analysis of Financial Condition and Results of Operations 22 Overview 22 Supplemental Information - Items Affecting Comparability 26 U.S.
Domestic Package Operations 33 International Package Operations 36 Supply Chain Solutions Operations 39 Consolidated Operating Expenses 42 Other Income and (Expense) 46 Income Tax Expense 47 Liquidity and Capital Resources 48 Collective Bargaining Agreements 53 New Accounting Pronouncements 53 Critical Accounting Estimates 54 Item 7A.
("UPS"), founded in 1907, is a global package delivery and logistics provider.
In 2024, we delivered an average of 22.4 million packages per day, totaling 5.7 billion packages during the year.
Strategy Our strategy focuses on growing in the parts of our market that value our end-to-end network, including healthcare, business to business ( B2B ), small- and medium-sized businesses ( SMBs ), and international.
We are continuing our journey to execute our Customer First, People Led, Innovation Driven strategy.
We strive to enable our customers to better compete and succeed by delivering what they tell us matters the most: speed, ease and service reliability.
1 In the first quarter of 2025, we entered into an agreement in principle with our largest customer to significantly reduce the volume we deliver for them.