UNITED PARCEL SERVICE INC
For the period ended Dec 31, 2025. Filed Feb 17, 2026.
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FY2025 · Filed Feb 17, 2026
UPS$110.96+2.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Consolidated Cash Flows
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Cash Flows From Operating Activities: | |||
| Net income | $5,572 | $5,782 | $6,708 |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Depreciation and amortization | 3,746 | 3,609 | 3,366 |
| Pension and postretirement benefit (income) expense | 1,009 | 1,698 | 1,330 |
| Pension and postretirement benefit contributions | (1,361) | (1,524) | (1,393) |
| Self-insurance reserves | 236 | 44 | 57 |
| Deferred tax (benefit) expense | (8) | (15) | 199 |
| Stock compensation expense | 73 | 24 | 220 |
| Other (gains) losses | 113 | 262 | 265 |
| Changes in assets and liabilities, net of effects of business acquisitions: | |||
| Accounts receivable | (382) | (566) | 1,256 |
| Other assets | 65 | 70 | 87 |
| Accounts payable | (190) | 262 | (1,377) |
| Accrued wages and withholdings | 27 | 501 | (296) |
| Other liabilities | (517) | (11) | (42) |
| Other operating activities | 67 | (14) | (142) |
| Net cash from operating activities | 8,450 | 10,122 | 10,238 |
| Cash Flows From Investing Activities: | |||
| Capital expenditures | (3,685) | (3,909) | (5,158) |
| Proceeds from disposal of businesses, property, plant and equipment | 700 | 1,115 | 193 |
| Purchases of marketable securities | (90) | (76) | (3,521) |
| Sales and maturities of marketable securities | 293 | 2,748 | 2,701 |
| Acquisitions, net of cash acquired | (1,968) | (71) | (1,329) |
| Other investing activities | 15 | (24) | (19) |
| Net cash used in investing activities | (4,735) | (217) | (7,133) |
| Cash Flows From Financing Activities: | |||
| Net change in short-term debt | — | (1,272) | 1,272 |
| Proceeds from long-term borrowings | 4,153 | 2,785 | 3,429 |
| Repayments of long-term borrowings | (2,069) | (2,487) | (2,429) |
| Purchases of common stock | (1,000) | (500) | (2,250) |
| Issuances of common stock | 159 | 232 | 248 |
| Dividends | (5,398) | (5,399) | (5,372) |
| Other financing activities | 14 | (209) | (432) |
| Net cash used in financing activities | (4,141) | (6,850) | (5,534) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 201 | (149) | 33 |
| Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash | (225) | 2,906 | (2,396) |
| Cash, Cash Equivalents and Restricted Cash: | |||
| Beginning of period | 6,112 | 3,206 | 5,602 |
| End of period | $5,887 | $6,112 | $3,206 |
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