UNITED PARCEL SERVICE INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
UPS$111.05+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Consolidated Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows From Operating Activities: | |||
| Net income | $6,708 | $11,548 | $12,890 |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Depreciation and amortization | 3,366 | 3,188 | 2,953 |
| Pension and postretirement benefit (income) expense | 1,330 | (129) | (2,456) |
| Pension and postretirement benefit contributions | (1,393) | (2,342) | (576) |
| Self-insurance reserves | 57 | (20) | 178 |
| Deferred tax (benefit) expense | 199 | 531 | 1,645 |
| Stock compensation expense | 220 | 1,568 | 878 |
| Other (gains) losses | 265 | 123 | 137 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | 1,256 | (322) | (2,147) |
| Other assets | 87 | 117 | 312 |
| Accounts payable | (1,377) | 34 | 1,265 |
| Accrued wages and withholdings | (296) | (189) | (245) |
| Other liabilities | (42) | (9) | 151 |
| Other operating activities | (142) | 6 | 22 |
| Net cash from operating activities | 10,238 | 14,104 | 15,007 |
| Cash Flows From Investing Activities: | |||
| Capital expenditures | (5,158) | (4,769) | (4,194) |
| Proceeds from disposal of businesses, property, plant and equipment | 193 | 12 | 872 |
| Purchases of marketable securities | (3,521) | (1,906) | (312) |
| Sales and maturities of marketable securities | 2,701 | 255 | 366 |
| Acquisitions, net of cash acquired | (1,329) | (755) | (602) |
| Other investing activities | (19) | (309) | 52 |
| Net cash used in investing activities | (7,133) | (7,472) | (3,818) |
| Cash Flows From Financing Activities: | |||
| Net change in short-term debt | 1,272 | — | — |
| Proceeds from long-term borrowings | 3,429 | — | — |
| Repayments of long-term borrowings | (2,429) | (2,304) | (2,773) |
| Purchases of common stock | (2,250) | (3,500) | (500) |
| Issuances of common stock | 248 | 262 | 251 |
| Dividends | (5,372) | (5,114) | (3,437) |
| Other financing activities | (432) | (529) | (364) |
| Net cash used in financing activities | (5,534) | (11,185) | (6,823) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 33 | (100) | (21) |
| Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash | (2,396) | (4,653) | 4,345 |
| Cash, Cash Equivalents and Restricted Cash: | |||
| Beginning of period | 5,602 | 10,255 | 5,910 |
| End of period | $3,206 | $5,602 | $10,255 |
| Cash Paid During the Period For: | |||
| Interest (net of amount capitalized) | $762 | $721 | $697 |
| Income taxes (net of refunds) | $1,976 | $2,574 | $1,869 |
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