Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

United Parcel Service Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Current maturities of long-term debt, commercial paper and finance leases	1,838)	3,348)	2,341)	2,131)	2,623)
Current maturities of operating leases	733)	709)	621)	580)	560)
Accounts payable	6,302)	6,340)	7,512)	7,523)	6,455)
Accrued wages and withholdings	3,655)	3,224)	4,049)	3,819)	3,569)
Self-insurance reserves	1,086)	1,320)	1,069)	1,048)	1,085)
Accrued group welfare and retirement plan contributions	1,390)	1,479)	1,076)	1,038)	927)
Liabilities to be disposed of	—)	—)	—)	—)	347)
Other current liabilities	1,437)	1,256)	1,472)	1,430)	1,450)
Current liabilities	16,441)	17,676)	18,140)	17,569)	17,016)
Long-term debt and finance leases, excluding current maturities	19,446)	18,916)	17,321)	19,784)	22,031)
Non-current operating leases	3,635)	3,756)	3,238)	3,033)	2,540)
Pension and postretirement benefit obligations	6,859)	6,159)	4,807)	8,047)	15,817)
Deferred income tax liabilities	3,595)	3,772)	4,302)	3,125)	488)
Other non-current liabilities	3,351)	3,264)	3,513)	3,578)	3,847)
Non-current liabilities	36,886)	35,867)	33,181)	37,567)	44,723)
Total liabilities	53,327)	53,543)	51,321)	55,136)	61,739)
Class A common stock	2)	2)	2)	2)	2)
Class B common stock	7)	7)	7)	7)	7)
Additional paid-in capital	136)	—)	—)	1,343)	865)
Retained earnings	20,882)	21,055)	21,326)	16,179)	6,896)
Accumulated other comprehensive loss	(4,309)	(3,758)	(1,549)	(3,278)	(7,113)
Deferred compensation obligations	7)	9)	13)	16)	20)
Treasury stock	(7)	(9)	(13)	(16)	(20)
Equity for controlling interests	16,718)	17,306)	19,786)	14,253)	657)
Noncontrolling interests	25)	8)	17)	16)	12)
Total shareowners’ equity	16,743)	17,314)	19,803)	14,269)	669)
Total liabilities and shareowners’ equity	70,070)	70,857)	71,124)	69,405)	62,408)

Based on: 10-K (reporting date: 2024-12-31), 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).

Current Liabilities: The current maturities of long-term debt, commercial paper, and finance leases showed a fluctuating trend, decreasing from 2,623 million USD in 2020 to 2,131 million USD in 2021, rising again in 2023 to 3,348 million USD before falling sharply to 1,838 million USD in 2024. Current maturities of operating leases steadily increased from 560 million USD in 2020 to 733 million USD in 2024. Accounts payable rose from 6,455 million USD in 2020 to a peak of 7,523 million USD in 2021 but subsequently declined to 6,302 million USD by 2024. Accrued wages and withholdings increased from 3,569 million USD in 2020 to 4,049 million USD in 2022, then declined to 3,224 million USD in 2023 and rose again to 3,655 million USD in 2024. Self-insurance reserves remained relatively stable, with a slight increase from 1,085 million USD in 2020 to 1,086 million USD in 2024, peaking in 2023 at 1,320 million USD. Accrued welfare and retirement plan contributions steadily increased from 927 million USD in 2020 to 1,479 million USD in 2023, slightly decreasing to 1,390 million USD in 2024. Other current liabilities fluctuated modestly between 1,450 million USD and 1,437 million USD throughout the period. Total current liabilities showed a rising trend from 17,016 million USD in 2020 to a peak of 18,140 million USD in 2022, followed by a decline to 16,441 million USD by 2024.
Non-Current Liabilities: Long-term debt and finance leases, excluding current maturities, decreased from 22,031 million USD in 2020 to 17,321 million USD in 2022 before recovering to 19,446 million USD in 2024. Non-current operating leases steadily increased from 2,540 million USD in 2020 to a peak of 3,756 million USD in 2023 and then slightly decreased to 3,635 million USD in 2024. Pension and postretirement benefit obligations declined dramatically from 15,817 million USD in 2020 to 4,807 million USD in 2022, increasing again to 6,859 million USD by 2024. Deferred income tax liabilities rose substantially from 488 million USD in 2020 to 4,302 million USD in 2022, decreasing afterwards to 3,595 million USD in 2024. Other non-current liabilities showed a slight downward trend from 3,847 million USD in 2020 to 3,351 million USD in 2024. Overall, total non-current liabilities declined from 44,723 million USD in 2020 to 33,181 million USD in 2022 before increasing again to 36,886 million USD by 2024.
Total Liabilities: Total liabilities decreased consistently from a high of 61,739 million USD in 2020 to 51,321 million USD in 2022, followed by a modest recovery to 53,327 million USD by 2024. This reflects a general reduction in liabilities, primarily driven by decreases in both current and non-current obligations, despite some fluctuations within individual categories.
Equity: Class A and B common stock values remained constant at 2 million USD and 7 million USD respectively throughout the period. Additional paid-in capital showed growth between 2020 and 2021, rising from 865 million USD to 1,343 million USD, but data is missing for subsequent years except for a lower figure of 136 million USD in 2024. Retained earnings increased markedly from 6,896 million USD in 2020 to 21,326 million USD in 2022, then slightly decreased to 20,882 million USD by 2024, indicating strong profitability accumulation over the period. The accumulated other comprehensive loss improved from -7,113 million USD in 2020 to -1,549 million USD in 2022, signaling a reduction in losses, but then worsened again to -4,309 million USD by 2024. Deferred compensation obligations and treasury stock steadily declined, reflecting reductions in related long-term obligations and stock adjustments respectively. Equity for controlling interests increased significantly from 657 million USD in 2020 to 19,786 million USD in 2022 before decreasing to 16,718 million USD in 2024, consistent with retained earnings trends. Noncontrolling interests remained small and fluctuated modestly. Total shareholders' equity followed a similar pattern, rising sharply from 669 million USD in 2020 to 19,803 million USD in 2022, then declining to 16,743 million USD in 2024.
Total Liabilities and Shareholders' Equity: The aggregate of total liabilities and shareholders' equity increased from 62,408 million USD in 2020 to a peak of 71,124 million USD in 2022, then slightly decreased to 70,070 million USD by 2024. This overall expansion is primarily attributable to the significant increase in equity, particularly retained earnings, despite a reduction in total liabilities.

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United Parcel Service Inc. (NYSE:UPS)

Balance Sheet: Liabilities and Stockholders’ Equity