UNITED PARCEL SERVICE INC
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
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Income Tax Expense
The following table sets forth our income tax expense and effective tax rate for the three months ended March 31, 2025 and 2024 (in millions):
| Three Months Ended March 31, · Change | ||||
|---|---|---|---|---|
| 2025 | 2024 | $ | % | |
| Income Tax Expense | $336 | $423 | $(87) | (20.6)% |
| Income Tax Impact of: | ||||
| Transformation Strategy Costs: | ||||
| Business Portfolio Review | — | 1 | (1) | (100.0)% |
| Financial Systems | 4 | 4 | — | —% |
| Transformation 2.0 Total | 4 | 5 | (1) | (20.0)% |
| Fit to Serve | 4 | 6 | (2) | (33.3)% |
| Network Reconfiguration and Efficiency Reimagined | 6 | — | 6 | N/A |
| Total Transformation Strategy Costs | 14 | 11 | 3 | 27.3% |
| Goodwill and Asset Impairment Charges | 9 | 13 | (4) | (30.8)% |
| Expense for Regulatory Matter | — | — | — | N/A |
| Reversal of income tax valuation allowance | 10 | — | 10 | N/A |
| Non-GAAP Adjusted Income Tax Expense | $369 | $447 | $(78) | (17.4)% |
| Effective Tax Rate | 22.1% | 27.5% | ||
| Non-GAAP Adjusted Effective Tax Rate | 22.5% | 26.8% | ||
For additional information on our income tax expense and effective tax rate, see note 16 to the unaudited, consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.