United Parcel Service Inc., adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	19,413)	22,217)	24,934)	20,216)	17,103)
Adjustments
Add: Allowance for credit losses	126)	146)	128)	138)	93)
After Adjustment
Adjusted current assets	19,539)	22,363)	25,062)	20,354)	17,196)

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United Parcel Service Inc., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	70,857)	71,124)	69,405)	62,408)	57,857)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for credit losses	126)	146)	128)	138)	93)
Less: Deferred tax assets²	126)	139)	176)	527)	330)
After Adjustment
Adjusted total assets	70,857)	71,131)	69,357)	62,019)	57,620)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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United Parcel Service Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	53,543)	51,321)	55,136)	61,739)	54,574)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	3,772)	4,302)	3,125)	488)	1,632)
After Adjustment
Adjusted total liabilities	49,771)	47,019)	52,011)	61,251)	52,942)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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United Parcel Service Inc., adjusted equity for controlling interests

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Equity for controlling interests	17,306)	19,786)	14,253)	657)	3,267)
Adjustments
Less: Net deferred tax asset (liability)¹	(3,646)	(4,163)	(2,949)	39)	(1,302)
Add: Allowance for credit losses	126)	146)	128)	138)	93)
Add: Noncontrolling interests	8)	17)	16)	12)	16)
After Adjustment
Adjusted total shareowners’ equity	21,086)	24,112)	17,346)	768)	4,678)

¹ Net deferred tax asset (liability). See details »

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United Parcel Service Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current maturities of long-term debt, commercial paper and finance leases	3,348)	2,341)	2,131)	2,623)	3,420)
Long-term debt and finance leases, excluding current maturities	18,916)	17,321)	19,784)	22,031)	21,818)
Total reported debt	22,264)	19,662)	21,915)	24,654)	25,238)
Equity for controlling interests	17,306)	19,786)	14,253)	657)	3,267)
Total reported capital	39,570)	39,448)	36,168)	25,311)	28,505)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current maturities of operating leases²	709)	621)	580)	560)	538)
Add: Non-current operating leases³	3,756)	3,238)	3,033)	2,540)	2,391)
Adjusted total debt	26,729)	23,521)	25,528)	27,754)	28,167)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(3,646)	(4,163)	(2,949)	39)	(1,302)
Add: Allowance for credit losses	126)	146)	128)	138)	93)
Add: Noncontrolling interests	8)	17)	16)	12)	16)
Adjusted total shareowners’ equity	21,086)	24,112)	17,346)	768)	4,678)
After Adjustment
Adjusted total capital	47,815)	47,633)	42,874)	28,522)	32,845)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current maturities of operating leases. See details »

³ Non-current operating leases. See details »

⁴ Net deferred tax asset (liability). See details »

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United Parcel Service Inc., adjusted net income

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	6,708)	11,548)	12,890)	1,343)	4,440)
Adjustments
Add: Deferred income tax expense (benefit)¹	199)	531)	1,645)	(858)	100)
Add: Increase (decrease) in allowance for credit losses	(20)	18)	(10)	45)	(1)
Add: Other comprehensive income (loss)	(2,209)	1,729)	3,835)	(1,116)	(1,003)
After Adjustment
Adjusted net income	4,678)	13,826)	18,360)	(586)	3,536)

¹ Deferred income tax expense (benefit). See details »

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United Parcel Service Inc. (NYSE:UPS)

Adjustments to Financial Statements