Balance Sheet: Liabilities and Stockholders’ Equity 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.
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 (quarterly data)
US$ in millions
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
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
Current maturities of long-term debt and finance leases
634)
637)
608)
932)
920)
1,858)
1,838)
1,606)
2,008)
1,164)
3,348)
2,243)
1,412)
2,332)
2,341)
2,581)
2,579)
2,141)
2,131)
1,268)
1,564)
1,811)
Current maturities of operating leases
729)
742)
763)
742)
724)
720)
733)
699)
683)
694)
709)
664)
673)
668)
621)
560)
562)
579)
580)
552)
556)
548)
Accounts payable
5,976)
5,913)
6,633)
5,784)
6,040)
5,454)
6,302)
5,410)
5,299)
5,397)
6,340)
5,972)
6,085)
6,302)
7,512)
6,731)
7,168)
7,036)
7,523)
6,445)
6,563)
6,305)
Accrued wages and withholdings
3,383)
3,238)
3,715)
3,476)
3,223)
3,271)
3,655)
3,527)
3,308)
3,217)
3,224)
3,341)
2,962)
3,012)
4,049)
3,643)
3,376)
3,418)
3,819)
3,805)
3,737)
3,701)
Self-insurance reserves
1,123)
1,095)
1,137)
1,024)
1,087)
1,009)
1,086)
1,307)
1,273)
1,325)
1,320)
1,065)
1,101)
1,069)
1,069)
1,081)
1,079)
1,025)
1,048)
1,093)
1,110)
1,103)
Accrued group welfare and retirement plan contributions
1,073)
1,414)
1,389)
1,221)
1,079)
1,549)
1,390)
1,239)
1,202)
1,573)
1,479)
1,306)
1,200)
1,196)
1,076)
1,006)
945)
922)
1,038)
957)
884)
934)
Hedge margin liabilities
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
1,031)
—)
—)
—)
—)
—)
—)
Liabilities to be disposed of
—)
—)
—)
—)
—)
—)
—)
—)
373)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
296)
Other current liabilities
1,963)
1,635)
1,375)
1,373)
1,167)
1,799)
1,437)
1,293)
939)
1,326)
1,256)
1,226)
1,253)
1,683)
1,472)
1,046)
1,628)
1,721)
1,430)
1,352)
1,356)
1,608)
Current liabilities
14,881)
14,674)
15,620)
14,552)
14,240)
15,660)
16,441)
15,081)
15,085)
14,696)
17,676)
15,817)
14,686)
16,262)
18,140)
17,679)
17,337)
16,842)
17,569)
15,472)
15,770)
16,306)
Long-term debt and finance leases, excluding current maturities
The financial structure reflects a transition toward higher long-term leverage and a consolidation of short-term obligations. Total liabilities remained relatively stable, oscillating between $50 billion and $56 billion throughout the observed period, while the total balance sheet size expanded moderately from $63.3 billion in early 2021 to $71.3 billion by mid-2026.
Liability Composition and Debt Trends
Long-term debt and finance leases exhibited a cyclical pattern, initially declining from $21.9 billion in March 2021 to a low of $17.3 billion in December 2022. This was followed by a significant increase, with the balance rising and stabilizing at approximately $23.8 billion from mid-2024 through June 2026. In contrast, current maturities of long-term debt showed high volatility, peaking at $3.3 billion in December 2023 before contracting to $634 million by mid-2026, suggesting a shift in the maturity profile of the company's debt.
Operating and Pension Obligations
Pension and postretirement benefit obligations underwent a sharp reduction, falling from $9.6 billion in March 2021 to a low of $4.6 billion in March 2023. This trend reversed after 2023, with obligations climbing back to $6.3 billion by June 2026. Non-current operating leases remained relatively steady, fluctuating within a narrow range between $2.5 billion and $3.7 billion. Deferred income tax liabilities grew from $2.0 billion in early 2021 to a peak of $4.6 billion in September 2023 before moderating to $3.9 billion by mid-2026.
Current Liability Dynamics
Total current liabilities peaked at $18.1 billion in December 2022 and generally trended downward to approximately $14.9 billion by June 2026. Accounts payable, a primary driver of current liabilities, showed a gradual decline from a high of $7.5 billion in late 2021 and 2022 to approximately $6.0 billion by mid-2026. Accrued wages and withholdings remained relatively stable, typically fluctuating between $3.0 billion and $4.0 billion.
Equity and Retained Earnings Analysis
Total shareowners' equity experienced a period of significant growth, rising from $7.2 billion in March 2021 to a peak of $20.1 billion in March 2023. This expansion was primarily fueled by a surge in retained earnings, which grew from $10.7 billion to $21.5 billion during that time. However, a subsequent contraction is observed, with total equity declining to $15.1 billion by June 2026. This decline is attributed to a reduction in retained earnings to $18.8 billion and the persistence of accumulated other comprehensive losses, which widened from -$1.5 billion in 2022 to approximately -$4.3 billion by mid-2026.
The overall trend indicates a strategic shift in the capital structure, where a decrease in equity and a reduction in current liabilities were offset by an increase in long-term debt. This suggests a move toward longer-term financing to support the balance sheet as retained earnings and comprehensive income experienced volatility.
