Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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United Parcel Service Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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United Parcel Service Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income
- Net income fluctuated significantly over the periods, showing a sharp decline to a negative figure in December 2020, followed by recovery and relatively stable positive earnings thereafter. Peaks were apparent in early 2021 and some quarters in 2023, while the latest figures for 2024 and early 2025 show moderate fluctuations with no consistent upward or downward trend.
- Depreciation and Amortization
- This expense demonstrated a consistent gradual increase throughout the periods, indicating steady capital asset usage and amortization over time.
- Pension and Postretirement Benefit (Income) Expense
- There were extreme fluctuations in this item, including a very high positive figure during late 2020 and unusually negative values in late 2022. These variations suggest volatility in pension-related costs or incomes, potentially driven by actuarial adjustments or plan changes.
- Pension and Postretirement Benefit Contributions
- Contributions fluctuated widely with some quarters showing significant negative values, particularly in late 2020 and late 2022, indicating large cash outflows in these periods. Contributions appear irregular without a clear trend.
- Self-Insurance Reserves
- The self-insurance reserves changed irregularly with alternating positive and negative values, reflecting varying reserve adjustments with no clear trend.
- Deferred Tax Expense (Benefit)
- Deferred tax expense showed notable volatility, with large benefits recorded in December 2020 and negative expenses sporadically thereafter, indicating fluctuating tax accounting impacts.
- Stock Compensation Expense (Benefit)
- Stock compensation expenses were generally positive but varied significantly, with spikes in certain quarters such as late 2022, suggesting fluctuations in equity-based compensation.
- Other (Gains) Losses
- This item exhibited irregular fluctuations with both gains and losses recorded, lacking a consistent pattern or trend.
- Accounts Receivable
- Accounts receivable displayed high volatility, alternating between positive and negative changes, signaling inconsistent collection patterns or sales cycles affecting receivables.
- Other Assets
- The balance of other assets showed irregular and small changes with some quarters recording negative values, indicating occasional asset disposals or adjustments.
- Accounts Payable
- Accounts payable varied markedly, with sizable positive and negative adjustments, suggesting fluctuating payment cycles and vendor interactions.
- Accrued Wages and Withholdings
- This liability exhibited considerable fluctuations, alternating between positive and negative changes, which may reflect varying payroll and withholding timing.
- Other Liabilities
- Other liabilities displayed inconsistent positive and negative changes, indicating sporadic financial obligations adjustments.
- Changes in Assets and Liabilities, Net of Effects of Acquisitions
- The net changes in assets and liabilities fluctuated widely, reflecting irregular working capital movements across the reported periods.
- Other Operating Activities
- Other operating activities included minor and irregular inflows and outflows, with no evident trend.
- Adjustments to Reconcile Net Income to Net Cash from Operating Activities
- These adjustments varied, with some significant positive values indicating large non-cash items or working capital adjustments, especially noticeable in certain quarters of 2020 and 2024.
- Net Cash from Operating Activities
- Operating cash flow generally remained positive and robust, with peaks especially in early 2020 and 2022. Some quarters show declines but the overall trend suggests healthy operational cash generation.
- Capital Expenditures
- Capital expenditures fluctuated significantly with large outflows in several quarters, notably in late 2020 and late 2022, reflecting variable investment activity.
- Proceeds from Disposal of Businesses, Property, Plant and Equipment
- Proceeds were irregular, with occasional significant inflows such as in mid-2021 and late 2024, indicating asset disposals occurring sporadically.
- Purchases and Sales of Marketable Securities
- Purchases of marketable securities declined markedly in late 2022, contrasting with relatively stable sales and maturities. This points to a strategy shift or liquidity management actions in those periods.
- Acquisitions, Net of Cash Acquired
- Acquisitions were sporadic and generally small except for significant negative cash flow spikes in late 2021 and late 2023, reflecting several considerable acquisition transactions.
- Other Investing Activities
- Other investing activities showed mostly small, irregular inflows and outflows without a clear pattern.
- Net Cash from (Used in) Investing Activities
- Investing cash flows were predominantly negative, highlighting continued investment and acquisitions; however, some positive spikes in mid-2024 reflect proceeds or reduced investments temporarily improving cash flows.
- Net Change in Short-Term Debt
- Short-term debt changes were inconsistent and sometimes missing; where available, both increases and decreases were recorded without a consistent direction.
- Proceeds from Long-Term Borrowings
- Long-term borrowings were irregular with notable inflows in 2023 and mid-2024, suggesting debt financing undertaken in those periods.
- Repayments of Long-Term Borrowings
- Repayments displayed a declining trend over the periods with fluctuating but generally decreasing repayments in later periods, indicating debt maturity management.
- Purchases and Issuances of Common Stock
- Purchases of common stock were mostly negative with large buybacks especially in 2022 and 2023. Issuances remained relatively steady but small in comparison, consistent with a share repurchase strategy.
- Dividends
- Dividends consistently increased slightly over time, indicating steady shareholder returns without interruption.
- Other Financing Activities
- Other financing activities were minor and irregular, with no apparent pattern or trend.
- Net Cash from (Used in) Financing Activities
- Financing cash flows were predominantly negative after early 2020, reflecting net outflows related to repayments, buybacks, and dividends, with occasional positive spikes due to borrowings.
- Effect of Exchange Rate Changes on Cash
- Effects of exchange rate changes on cash fluctuated irregularly with both positive and negative impacts, showing currency valuation effects on cash balances.
- Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash
- Cash balances experienced significant volatility with large positive inflows early in 2020 and early 2021, substantial declines in certain quarters especially late 2022, followed by volatile but generally moderate movements toward end of the dataset. This reflects the net impact of operating, investing, and financing activities across periods.