Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

United Parcel Service Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	6,764)	6,194)	4,802)	6,112)	5,855)	6,319)	4,281)	3,206)	4,311)	4,812)	6,190)	5,602)	11,045)	11,735)	12,208)	10,255)	10,212)	9,608)	7,731)	5,910)	8,839)	8,813)	8,955)
Accounts receivable, net	9,967)	10,430)	9,887)	10,871)	9,195)	9,048)	9,554)	11,216)	9,461)	9,587)	10,299)	12,583)	10,975)	11,396)	11,199)	12,541)	10,474)	10,137)	10,127)	10,750)	8,993)	9,230)	8,126)
Assets held for sale	—)	—)	—)	—)	—)	1,183)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,135)	1,197)	—)	—)	—)
Other current assets	2,254)	2,226)	2,401)	2,327)	2,214)	2,273)	2,342)	4,991)	5,479)	5,040)	5,236)	4,032)	2,578)	2,440)	2,194)	2,138)	2,157)	2,243)	1,992)	2,359)	2,098)	2,183)	2,308)
Current assets	18,985)	18,850)	17,090)	19,310)	17,264)	18,823)	16,177)	19,413)	19,251)	19,439)	21,725)	22,217)	24,598)	25,571)	25,601)	24,934)	22,843)	21,988)	20,985)	20,216)	19,930)	20,226)	19,389)
Property, plant and equipment, net	37,743)	37,711)	37,250)	37,179)	37,389)	37,129)	37,168)	36,945)	36,013)	35,501)	34,995)	34,719)	33,625)	33,487)	33,595)	33,475)	32,859)	32,631)	32,455)	32,254)	32,164)	31,439)	30,908)
Operating lease right-of-use assets	4,217)	3,979)	4,015)	4,149)	4,129)	4,088)	4,223)	4,308)	4,162)	4,219)	4,089)	3,755)	3,417)	3,436)	3,481)	3,562)	3,460)	3,568)	3,044)	3,073)	3,022)	2,998)	3,041)
Goodwill	4,810)	4,806)	4,691)	4,300)	4,411)	4,350)	4,846)	4,872)	4,097)	4,250)	4,249)	4,223)	3,624)	3,675)	3,668)	3,692)	3,332)	3,357)	3,346)	3,367)	3,816)	3,787)	3,776)
Intangible assets, net	3,455)	3,356)	3,301)	3,064)	3,108)	3,106)	3,308)	3,305)	2,892)	2,890)	2,811)	2,796)	2,439)	2,476)	2,465)	2,486)	2,224)	2,238)	2,268)	2,274)	2,289)	2,207)	2,176)
Deferred income tax assets	158)	142)	135)	112)	125)	123)	126)	126)	127)	137)	155)	139)	143)	158)	173)	176)	181)	187)	243)	527)	277)	277)	299)
Other non-current assets	2,024)	2,079)	1,984)	1,956)	1,837)	1,799)	1,780)	1,888)	3,739)	3,911)	4,165)	3,275)	1,698)	1,286)	1,130)	1,080)	840)	900)	971)	697)	908)	1,123)	1,306)
Non-current assets	52,407)	52,073)	51,376)	50,760)	50,999)	50,595)	51,451)	51,444)	51,030)	50,908)	50,464)	48,907)	44,946)	44,518)	44,512)	44,471)	42,896)	42,881)	42,327)	42,192)	42,476)	41,831)	41,506)
Total assets	71,392)	70,923)	68,466)	70,070)	68,263)	69,418)	67,628)	70,857)	70,281)	70,347)	72,189)	71,124)	69,544)	70,089)	70,113)	69,405)	65,739)	64,869)	63,312)	62,408)	62,406)	62,057)	60,895)

The analysis of the quarterly financial data reflects various trends and fluctuations across multiple asset categories over the observed periods. Key current and non-current asset accounts demonstrate both growth and volatility, suggesting shifts in operational and investment activities.

Cash and Cash Equivalents: The cash reserves exhibit notable volatility. Starting moderately high in early 2020, these balances declined sharply by the end of 2020, rebounding in the first half of 2021 before experiencing a steep decline again by the end of 2022 and early 2023. Recent quarters show a partial recovery, although cash positions remain below early 2020 and mid-2021 peaks. This pattern may indicate varying liquidity management and cash flow from operations or financing activities.
Accounts Receivable, Net: Accounts receivable values generally trend upward from early 2020 through the end of 2021, peaking in December 2021, suggesting increased sales or extended credit terms. Subsequently, there is fluctuation with some decreases observed in 2023, followed by a moderate rise again in 2024 and 2025, indicating stabilization in receivables management.
Assets Held for Sale: These assets appear sporadically, noted in late 2020 and briefly in 2024. Their presence in isolated quarters suggests occasional disposals or restructuring activities involving certain asset classes.
Other Current Assets: Other current assets display variability throughout the timeline. After a steady range through 2020 and 2021, there is a significant spike in late 2022 and early 2023, possibly reflecting temporary receivables or inventory buildups. In 2024, these assets decline substantially before stabilizing, indicating adjustments in current asset composition or operational needs.
Current Assets: The aggregated current assets demonstrate a gradual upwards trend through 2021, reaching a peak before a sharp decline in 2022–2023. The decrease in current assets in these years likely corresponds with the cash and other current asset fluctuations. Recent periods show partial recovery yet remain below the peak levels, suggesting tighter working capital management or reduced liquidity buffers.
Property, Plant and Equipment, Net: Fixed assets steadily increase across all periods, with only minor fluctuations. This consistent growth indicates ongoing capital investments or asset upgrades to support operational capacity.
Operating Lease Right-of-Use Assets: Leased asset values fluctuate moderately with a general upward trend through 2023, followed by some decline and renewed growth toward the end of the data. This pattern may reflect changes in leasing strategies or adjustments in lease terms.
Goodwill: Goodwill remains relatively stable in early years, dips slightly towards late 2020, then demonstrates an upward shift by late 2022 and peaks around 2024. These changes likely coincide with acquisitions or disposals affecting intangible goodwill components.
Intangible Assets, Net: Intangible assets show a gradual upward trend throughout the periods, particularly pronounced from 2022 onward, indicating investments or revaluations in non-physical assets such as trademarks or patents.
Deferred Income Tax Assets: This category decreases slightly over time with limited fluctuation, suggesting stable or diminishing deferred tax positions.
Other Non-Current Assets: These assets exhibit a marked increase during late 2022 and early 2023, followed by a decrease in 2024 and onward. The volatility could be attributable to changes in long-term receivables, investments, or other non-operational assets.
Non-Current Assets: Total non-current assets gradually increase over the periods analyzed, highlighting ongoing investment and accumulation of long-term resources.
Total Assets: The aggregate assets show a steady upward trend until late 2021, peaking around December 2021, followed by fluctuations around this higher level with some decline in 2023 and recovery in 2024 and 2025. The data indicates an overall growth in asset base tempered by recent asset composition changes.

In summary, the financial data suggests an overall expansion in asset base, particularly focused on property, plant and equipment and intangibles, while current assets and cash reserves are more volatile. These patterns may reflect operational scaling alongside prudent liquidity and working capital adjustments in response to internal or external economic factors.

Assets: Selected Items

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Current Assets: Selected Items

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United Parcel Service Inc. (NYSE:UPS)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data