United Parcel Service, Inc. (UPS) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

Swipe to see the full flow
United Parcel Service, Inc. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $5,782,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $3,609,000,000.00Pension and postretirement benefit (income) expense → Operating adjustments reconciliation: $1,698,000,000.00Accrued wages and withholdings → Operating adjustments reconciliation: $501,000,000.00Accounts payable → Operating adjustments reconciliation: $262,000,000.00Other (gains) losses → Operating adjustments reconciliation: $262,000,000.00Other assets → Operating adjustments reconciliation: $70,000,000.00Self-insurance reserves → Operating adjustments reconciliation: $44,000,000.00Stock compensation expense → Operating adjustments reconciliation: $24,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $4,340,000,000.00Operating adjustments reconciliation → Pension and postretirement benefit contributions: $1,524,000,000.00Operating adjustments reconciliation → Accounts receivable: $566,000,000.00Operating adjustments reconciliation → Deferred tax (benefit) expense: $15,000,000.00Operating adjustments reconciliation → Other operating activities: $14,000,000.00Operating adjustments reconciliation → Other liabilities: $11,000,000.00Sales and maturities of marketable securities → investing reconciliation: $2,748,000,000.00Proceeds from disposal of businesses, property, plant and equipment → investing reconciliation: $1,115,000,000.00investing reconciliation → Capital expenditures: $3,909,000,000.00investing reconciliation → Purchases of marketable securities: $76,000,000.00investing reconciliation → Acquisitions, net of cash acquired: $71,000,000.00investing reconciliation → Other investing activities: $24,000,000.00Net cash used in financing activities → financing reconciliation: $6,850,000,000.00Proceeds from long-term borrowings → financing reconciliation: $2,785,000,000.00Issuances of common stock → financing reconciliation: $232,000,000.00financing reconciliation → Dividends: $5,399,000,000.00financing reconciliation → Repayments of long-term borrowings: $2,487,000,000.00financing reconciliation → Net change in short-term debt: $1,272,000,000.00financing reconciliation → Purchases of common stock: $500,000,000.00financing reconciliation → Other financing activities: $209,000,000.00Net cash used in investing activities → investing reconciliation: $217,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $3,206,000,000.00Net cash from operating activities → Cash sources and uses: $10,122,000,000.00Cash sources and uses → Exchange-rate effect: $149,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $6,112,000,000.00Cash sources and uses → Net cash used in investing activities: $217,000,000.00Cash sources and uses → Net cash used in financing activities: $6,850,000,000.00Net Income: $5,782,000,000.00Net Income+$5.78 BAccounts receivable: -$566,000,000.00Accounts receivable−$566.00 MOther liabilities: -$11,000,000.00Other operating liabilities−$11.00 MAccounts payable: $262,000,000.00Accounts payable+$262.00 MAccrued wages and withholdings: $501,000,000.00Accrued compensation+$501.00 MOther operating activities: -$14,000,000.00Other working capital, net−$14.00 MStock compensation expense: $24,000,000.00Stock-based compensation+$24.00 MPension and postretirement benefit (income) expense: $1,698,000,000.00Pension & postretirement expense+$1.70 BPension and postretirement benefit contributions: -$1,524,000,000.00Pension & retiree contributions−$1.52 BDepreciation and amortization: $3,609,000,000.00Depreciation & amortization+$3.61 BDeferred tax (benefit) expense: -$15,000,000.00Deferred taxes & credits−$15.00 MOther (gains) losses: $262,000,000.00Other non-cash items+$262.00 MSelf-insurance reserves: $44,000,000.00Self-insurance reserves+$44.00 MOther assets: $70,000,000.00Other operating assets+$70.00 MNet cash from operating activities: $10,122,000,000.00Operating cash+$10.12 BOperating adjustments reconciliation: $6,470,000,000.00Net change in short-term debt: -$1,272,000,000.00Short-term debt, net−$1.27 BProceeds from long-term borrowings: $2,785,000,000.00Long-term debt issued+$2.79 BRepayments of long-term borrowings: -$2,487,000,000.00Long-term debt repaid−$2.49 BPurchases of common stock: -$500,000,000.00Common stock repurchases−$500.00 MIssuances of common stock: $232,000,000.00Common stock issued+$232.00 MDividends: -$5,399,000,000.00Dividends paid−$5.40 BOther financing activities: -$209,000,000.00Other financing, net−$209.00 MNet cash used in financing activities: -$6,850,000,000.00. Cash required to fund net payments.Financing cash−$6.85 Bfinancing reconciliation: $9,867,000,000.00Capital expenditures: -$3,909,000,000.00PP&E purchases−$3.91 BProceeds from disposal of businesses, property, plant and equipment: $1,115,000,000.00Business & PP&E sales+$1.12 BPurchases of marketable securities: -$76,000,000.00Investment purchases−$76.00 MSales and maturities of marketable securities: $2,748,000,000.00Investment sales & maturities+$2.75 BAcquisitions, net of cash acquired: -$71,000,000.00Acquisitions, net of cash−$71.00 MOther investing activities: -$24,000,000.00Other investing, net−$24.00 MNet cash used in investing activities: -$217,000,000.00. Cash required to fund net payments.Investing cash−$217.00 Minvesting reconciliation: $4,080,000,000.00Cash sources and uses: $13,328,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $3,206,000,000.00Beginning cash$3.21 BEnding cash: Cash, cash equivalents, and restricted cash: $6,112,000,000.00Ending cash$6.11 BExchange-rate effect: -$149,000,000.00FX effect−$149.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$6.21 BOperating cash − cash spent on PP&ECash flow / Net income1.75×Operating cash flow ÷ net incomeNet cash change+$2.91 BEnding cash − beginning cash
Chart details

United Parcel Service, Inc. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
3,206,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
10,122,000,000 US dollars. Net cash provided.
Net Income
5,782,000,000 US dollars
Accounts receivable
negative 566,000,000 US dollars
Other liabilities
negative 11,000,000 US dollars
Accounts payable
262,000,000 US dollars
Accrued wages and withholdings
501,000,000 US dollars
Other operating activities
negative 14,000,000 US dollars
Stock compensation expense
24,000,000 US dollars
Pension and postretirement benefit (income) expense
1,698,000,000 US dollars
Pension and postretirement benefit contributions
negative 1,524,000,000 US dollars
Depreciation and amortization
3,609,000,000 US dollars
Deferred tax (benefit) expense
negative 15,000,000 US dollars
Other (gains) losses
262,000,000 US dollars
Self-insurance reserves
44,000,000 US dollars
Other assets
70,000,000 US dollars
Investing activities
negative 217,000,000 US dollars. Net cash used.
Capital expenditures
negative 3,909,000,000 US dollars
Proceeds from disposal of businesses, property, plant and equipment
1,115,000,000 US dollars
Purchases of marketable securities
negative 76,000,000 US dollars
Sales and maturities of marketable securities
2,748,000,000 US dollars
Acquisitions, net of cash acquired
negative 71,000,000 US dollars
Other investing activities
negative 24,000,000 US dollars
Financing activities
negative 6,850,000,000 US dollars. Net cash used.
Net change in short-term debt
negative 1,272,000,000 US dollars
Proceeds from long-term borrowings
2,785,000,000 US dollars
Repayments of long-term borrowings
negative 2,487,000,000 US dollars
Purchases of common stock
negative 500,000,000 US dollars
Issuances of common stock
232,000,000 US dollars
Dividends
negative 5,399,000,000 US dollars
Other financing activities
negative 209,000,000 US dollars
Operating adjustment reconciliation
6,470,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
9,867,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
4,080,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 149,000,000 US dollars
Ending cash on Dec 31, 2024
6,112,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
13,328,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
2,906,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.75×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
10,122,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
3,909,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
6,213,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $4.34B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 10,122,000,000 US dollars minus 3,909,000,000 US dollars equals 6,213,000,000 US dollars.
United Parcel Service, Inc. (UPS) FY2024 Annual Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!