Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

United Parcel Service Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	90,958)	100,338)	97,287)	84,628)	74,094)
Compensation and benefits	(47,088)	(47,781)	(46,707)	(44,529)	(38,908)
Repairs and maintenance	(2,828)	(2,515)	(2,443)	(2,365)	(1,838)
Depreciation and amortization	(3,366)	(3,188)	(2,953)	(2,698)	(2,360)
Purchased transportation	(13,651)	(17,653)	(19,058)	(15,631)	(12,590)
Fuel	(4,775)	(6,018)	(3,847)	(2,582)	(3,289)
Other occupancy	(2,019)	(1,818)	(1,698)	(1,539)	(1,392)
Other expenses	(8,090)	(8,271)	(7,771)	(7,600)	(5,919)
Operating expenses	(81,817)	(87,244)	(84,477)	(76,944)	(66,296)
Operating profit	9,141)	13,094)	12,810)	7,684)	7,798)
Investment income (expense) and other	217)	2,435)	4,479)	(5,139)	(1,493)
Interest expense	(785)	(704)	(694)	(701)	(653)
Other income and (expense)	(568)	1,731)	3,785)	(5,840)	(2,146)
Income before income taxes	8,573)	14,825)	16,595)	1,844)	5,652)
Income tax expense	(1,865)	(3,277)	(3,705)	(501)	(1,212)
Net income	6,708)	11,548)	12,890)	1,343)	4,440)

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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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	United Parcel Service Inc. revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Operating profit	The net result for the period of deducting operating expenses from operating revenues.	United Parcel Service Inc. operating profit increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	United Parcel Service Inc. income before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	United Parcel Service Inc. net income decreased from 2021 to 2022 and from 2022 to 2023.

United Parcel Service Inc. (NYSE:UPS)

Income Statement