United Parcel Service, Inc. (UPS)

UPS Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	5,730	5,782	6,708	11,548	12,890	1,343
Depreciation & Amortization	3,672	3,609	3,366	3,188	2,953	2,698
Loss (Gain) From Sale of Assets	160	262	265	123	137	917
Stock-Based Compensation	37	24	220	1,568	878	796
Other Operating Activities	-546	189	51	-1,954	-1,187	3,624
Change in Accounts Receivable	-1,552	-566	1,256	-322	-2,147	-1,562
Change in Accounts Payable	505	262	-1,377	34	1,265	904
Change in Other Net Operating Assets	-527	560	-251	-81	218	1,739
Operating Cash Flow	7,479	10,122	10,238	14,104	15,007	10,459
Operating Cash Flow Growth	-24.86%	-1.13%	-27.41%	-6.02%	43.48%	21.07%
Capital Expenditures	-3,940	-3,909	-5,158	-4,769	-4,194	-5,412
Sale of Property, Plant & Equipment	113	113	-	-	872	40
Cash Acquisitions	-484	-71	-1,329	-755	-602	-20
Divestitures	1,065	1,002	193	12	-	-
Investment in Securities	124	2,672	-820	-1,651	54	106
Other Investing Activities	-26	-24	-19	-309	52	-41
Investing Cash Flow	-3,148	-217	-7,133	-7,472	-3,818	-5,283
Short-Term Debt Issued	-	-	1,272	-	-	-
Long-Term Debt Issued	-	2,785	3,429	-	-	5,003
Total Debt Issued	4,153	2,785	4,701	-	-	5,003
Short-Term Debt Repaid	-	-1,272	-	-	-	-2,462
Long-Term Debt Repaid	-	-2,487	-2,429	-2,304	-2,773	-3,392
Total Debt Repaid	-2,041	-3,759	-2,429	-2,304	-2,773	-5,854
Net Debt Issued (Repaid)	2,112	-974	2,272	-2,304	-2,773	-851
Issuance of Common Stock	203	232	248	262	251	285
Repurchase of Common Stock	-1,500	-500	-2,250	-3,500	-500	-224
Common Dividends Paid	-5,395	-5,399	-5,372	-5,114	-3,437	-3,374
Other Financing Activities	-22	-209	-432	-529	-364	-353
Financing Cash Flow	-4,602	-6,850	-5,534	-11,185	-6,823	-4,517
Foreign Exchange Rate Adjustments	136	-149	33	-100	-21	13
Net Cash Flow	-125	2,906	-2,396	-4,653	4,345	672
Free Cash Flow	3,539	6,213	5,080	9,335	10,813	5,047
Free Cash Flow Growth	-23.84%	22.30%	-45.58%	-13.67%	114.25%	123.42%
Free Cash Flow Margin	3.92%	6.82%	5.58%	9.30%	11.12%	5.96%
Free Cash Flow Per Share	4.15	7.26	5.91	10.67	12.31	5.79
Cash Interest Paid	854	854	762	721	697	691
Cash Income Tax Paid	1,347	1,347	1,976	2,574	1,869	1,138
Levered Free Cash Flow	4,056	4,795	3,549	8,521	7,840	2,275
Unlevered Free Cash Flow	4,625	5,331	4,041	8,961	8,274	2,714
Change in Net Working Capital	71	-600	278	-28	-594	161

Updated May 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q