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.
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United Parcel Service Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Total assets exhibited an overall increasing trend from March 2021 through December 2023, followed by a period of fluctuation. While initially growing from $63.312 billion to $70.857 billion, assets experienced a decrease in the first half of 2024 before stabilizing and increasing again through December 2025, reaching $73.090 billion. A closer examination of the asset composition reveals varying patterns within current and non-current asset categories.
- Current Assets
- Current assets demonstrated a general upward trajectory from $20.985 billion in March 2021 to a peak of $24.934 billion in December 2021. Subsequently, a decline was observed, reaching a low of $19.251 billion in September 2023. A moderate recovery occurred in the latter half of 2023 and into 2024, followed by a slight decrease in the final quarters. The composition of current assets reveals notable shifts. Cash and cash equivalents increased significantly from March 2021 to December 2021, then decreased substantially to $3.206 billion by December 2022, and continued to fluctuate. Accounts receivable remained relatively stable between $10.127 billion and $12.583 billion throughout the period, with a slight increase observed in the final quarters. Other current assets showed an increase until December 2022, then decreased, remaining relatively stable in 2024 and 2025.
- Non-Current Assets
- Non-current assets consistently represented the larger portion of total assets. These assets increased steadily from $42.327 billion in March 2021 to $51.444 billion in December 2023. While remaining high, non-current assets experienced a slight decrease in 2024 before increasing again to $54.045 billion by December 2025. Property, plant, and equipment, net, constituted the largest component of non-current assets, exhibiting a consistent upward trend throughout the period. Goodwill also showed an increasing trend, particularly noticeable from September 2022, reaching $5.837 billion by December 2023 and continuing to rise to $5.837 billion in December 2025. Intangible assets, net, also increased over the period, with a more pronounced increase in the later years. Operating lease right-of-use assets remained relatively stable, with a slight increase over time. Deferred income tax assets and other non-current assets showed moderate fluctuations.
The fluctuations in cash and cash equivalents, coupled with the consistent growth in property, plant, and equipment, suggest potential investment in long-term assets and operational capacity. The increase in goodwill may indicate acquisitions or increased brand value. The overall asset growth, despite some short-term declines, indicates continued expansion and investment within the business.