UNITED PARCEL SERVICE INC
For the period ended Jun 30, 2025. Filed Aug 6, 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.
Jun 30, 2025 · Filed Aug 6, 2025
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Other Income (Expense)
The following table sets forth investment income and other and interest expense for the three and six months ended June 30, 2025 and 2024 (in millions):
| Three Months Ended June 30, · Change · Six Months Ended June 30, · Change | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | $ | % | 2025 | 2024 | $ | % | |
| Investment Income and Other | $78 | $137 | $(59) | (43.1)% | $157 | $255 | $(98) | (38.4)% |
| Goodwill and Asset Impairment Charges | — | — | — | N/A | 19 | — | 19 | N/A |
| Non-GAAP Adjusted Investment Income and Other | 78 | 137 | (59) | (43.1)% | 176 | 255 | (79) | (31.0)% |
| Interest Expense | (238) | (212) | (26) | 12.3% | (460) | (407) | (53) | 13.0% |
| Interest Expense Associated with One-Time Payment for International Regulatory Matter | — | 6 | (6) | (100.0)% | — | 6 | (6) | (100.0)% |
| Non-GAAP Adjusted Interest Expense | $(238) | $(206) | $(32) | 15.5% | $(460) | $(401) | $(59) | 14.7% |
| Total Other Income (Expense) | $(160) | $(75) | $(85) | 113.3% | $(303) | $(152) | $(151) | 99.3% |
| Non-GAAP Adjusted Total Other Income (Expense) | $(160) | $(69) | $(91) | 131.9% | $(284) | $(146) | $(138) | 94.5% |
Investment Income and Other
Investment income and other decreased by $59 million in the quarter and $98 million year to date, primarily driven by lower rates on lower average invested balances, year-over-year changes in fair value of certain non-current investments, and reductions in pension income. The reduction in pension income was driven by an increase in interest cost from overall plan growth and higher discount rates, slightly offset by higher expected returns on pension assets.
For the year-to-date period in 2025, investment income includes a $19 million impairment charge of an equity method investment. Excluding the impact of this impairment, non-GAAP adjusted investment income and other decreased by $79 million year to date.
Interest Expense
Interest expense increased for both the second quarter and year-to-date periods, due to higher average outstanding debt balances.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.