Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age

United Parcel Service Inc., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Vehicles	11,768)	10,628)	10,018)	9,786)	10,613)
Aircraft	22,888)	22,598)	21,973)	20,549)	19,045)
Land	2,138)	2,140)	2,140)	2,052)	2,087)
Buildings	6,255)	6,032)	5,802)	5,425)	5,046)
Building and leasehold improvements	5,241)	5,067)	5,010)	4,921)	4,898)
Plant equipment	17,322)	16,145)	15,650)	14,684)	13,849)
Technology equipment	2,656)	2,411)	2,798)	2,626)	2,206)
Construction-in-progress	3,247)	2,409)	1,418)	2,048)	1,983)
Property, plant and equipment, gross	71,515)	67,430)	64,809)	62,091)	59,727)
Accumulated depreciation and amortization	(34,570)	(32,711)	(31,334)	(29,837)	(29,245)
Property, plant and equipment, net	36,945)	34,719)	33,475)	32,254)	30,482)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Property, plant and equipment, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	United Parcel Service Inc. property, plant and equipment, gross increased from 2021 to 2022 and from 2022 to 2023.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	United Parcel Service Inc. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

United Parcel Service Inc., asset age ratios

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
	Average age ratio	49.83%	50.10%	50.00%	49.70%	50.74%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	United Parcel Service Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization	34,570)	32,711)	31,334)	29,837)	29,245)
Property, plant and equipment, gross	71,515)	67,430)	64,809)	62,091)	59,727)
Land	2,138)	2,140)	2,140)	2,052)	2,087)
Asset Age Ratio
Average age¹	49.83%	50.10%	50.00%	49.70%	50.74%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation and amortization ÷ (Property, plant and equipment, gross – Land)
= 100 × 34,570 ÷ (71,515 – 2,138) = 49.83%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	United Parcel Service Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

United Parcel Service Inc. (NYSE:UPS)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age