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Analysis of Inventory
Difficulty: Advanced
Inventory Accounting Policy
Fuel and other materials and supplies inventories are recognized as inventory when purchased, and then charged to expense when used in UPS's operations. Jet fuel, diesel and unleaded gasoline inventories are valued at the lower of average cost or market. Total inventories were $404 and $342 million as of December 31, 2017 and 2016, respectively, and are included in "other current assets" on the consolidated balance sheets.
Source: United Parcel Service Inc., Annual Report
Inventory Disclosure
United Parcel Service Inc., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Inventories | |
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Source: Based on data from United Parcel Service Inc. Annual Reports
| Item | Description | The company |
|---|---|---|
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | United Parcel Service Inc.'s inventories increased from 2015 to 2016 and from 2016 to 2017. |
