UNITED PARCEL SERVICE INC

For the period ended Sep 30, 2026. Filed Nov 4, 2026.

About this filing

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.

Sep 30, 2026 · Filed Nov 4, 2026

UPS$110.96+2.5%Stored close · as of Nov 9, 2026

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Income Tax Expense

The following table sets forth our income tax expense and effective tax rate for the three and nine months ended September 30, 2026 and 2025, respectively (in millions):

Three Months Ended September 30, · Change · Nine Months Ended September 30, · Change
2026 · 2025 · $ · % · 2026 · 2025 · $ · %
Income Tax Expense	$408		$296	$112		37.8%		$825	$1,011	$(186)	(18.4)%
Income Tax Impact of:
Transformation Strategy Costs	41		78	(37)		(47.4)%		335	109	226	207.3%
Net Loss on Divestiture	—		—	—		N/A		—	4	(4)	(100.0)%
Gains on Sales of Assets	(10)		—	(10)		N/A		(10)	—	(10)	N/A
Reversal of Income Tax Valuation Allowance	—		86	(86)		(100.0)%		—	109	(109)	(100.0)%
Non-GAAP Adjusted Income Tax Expense	$439		$460	$(21)		(4.6)%		$1,150	$1,233	$(83)	(6.7)%
Effective Tax Rate	26.0%	18.4%			23.9%		21.1%
Non-GAAP Adjusted Effective Tax Rate	23.3%	23.8%			23.0%		23.3%

See note 15 to the unaudited consolidated financial statements for additional information on our income tax expense and effective tax rate.

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