UPS International Profit Rebounds

(2) Third quarter 2012 net income and earnings per share amounts excluded the after-tax impact of the U.S. Domestic Package withdrawal liability charge described in (1), which totals $559 million.

Certain prior year amounts have been reclassified to conform to the current year presentation.

United Parcel Service, Inc.
Selected Operating Data - Third Quarter
(unaudited)
			Three Months Ended
			September 30,							Change
			2012			2011				$/ #				%
Revenue (in millions):
U.S. Domestic Package:
Next Day Air			$	1,577		$	1,588			$	(11	)		-0.7	%
Deferred				776			760				16			2.1	%
Ground				5,508			5,419				89			1.6	%
Total U.S. Domestic Package				7,861			7,767				94			1.2	%
International Package:
Domestic				600			660				(60	)		-9.1	%
Export				2,195			2,251				(56	)		-2.5	%
Cargo				148			146				2			1.4	%
Total International Package				2,943			3,057				(114	)		-3.7	%
Supply Chain & Freight:
Forwarding and Logistics				1,445			1,552				(107	)		-6.9	%
Freight				691			667				24			3.6	%
Other				131			123				8			6.5	%
Total Supply Chain & Freight				2,267			2,342				(75	)		-3.2	%
Consolidated			$	13,071		$	13,166			$	(95	)		-0.7	%
Consolidated volume (in millions)				978			965				13			1.3	%
Operating weekdays				63			64				(1	)
Average Daily Package Volume (in thousands):
U.S. Domestic Package:
Next Day Air				1,264			1,196				68			5.7	%
Deferred				931			852				79			9.3	%
Ground				11,010			10,688				322			3.0	%
Total U.S. Domestic Package				13,205			12,736				469			3.7	%
International Package:
Domestic				1,386			1,424				(38	)		-2.7	%
Export				930			919				11			1.2	%
Total International Package				2,316			2,343				(27	)		-1.2	%
Consolidated				15,521			15,079				442			2.9	%
Average Revenue Per Piece:
U.S. Domestic Package:
Next Day Air			$	19.80		$	20.75			$	(0.95	)		-4.6	%
Deferred				13.23			13.94				(0.71	)		-5.1	%
Ground				7.94			7.92				0.02			0.3	%
Total U.S. Domestic Package				9.45			9.53				(0.08	)		-0.8	%
International Package:
Domestic				6.87			7.24				(0.37	)		-5.1	%
Export				37.46			38.27				(0.81	)		-2.1	%
Total International Package				19.16			19.41				(0.25	)		-1.3	%
Consolidated			$	10.90		$	11.06			$	(0.16	)		-1.4	%
Certain prior year amounts have been reclassified to conform to the current year presentation.

United Parcel Service, Inc.
Selected Financial Data - Year to Date
(unaudited)
			Nine Months Ended
			September 30,								Change
			2012				2011				$				%
(amounts in millions, except per share data)
Statement of Income Data:
Revenue:
U.S. Domestic Package			$	23,923			$	23,047			$	876			3.8	%
International Package				8,923				9,096				(173	)		-1.9	%
Supply Chain & Freight				6,710				6,796				(86	)		-1.3	%
Total revenue				39,556				38,939				617			1.6	%
Operating expenses:
Compensation and benefits				21,159				19,845				1,314			6.6	%
Other				14,272				14,211				61			0.4	%
Total operating expenses				35,431				34,056				1,375			4.0	%
Operating profit:
U.S. Domestic Package				2,258				2,923				(665	)		-22.8	%
International Package				1,311				1,375				(64	)		-4.7	%
Supply Chain & Freight				556				585				(29	)		-5.0	%
Total operating profit				4,125				4,883				(758	)		-15.5	%
Other income (expense):
Investment income				18				36				(18	)		-50.0	%
Interest expense				(284	)			(252	)			(32	)		12.7	%
Total other income (expense)				(266	)			(216	)			(50	)		23.1	%
Income before income taxes				3,859				4,667				(808	)		-17.3	%
Income tax expense				1,304				1,588				(284	)		-17.9	%
Net income			$	2,555			$	3,079			$	(524	)		-17.0	%
Net income as a percentage of revenue				6.5	%			7.9	%
Per share amounts
Basic earnings per share			$	2.66			$	3.12			$	(0.46	)		-14.7	%
Diluted earnings per share			$	2.63			$	3.09			$	(0.46	)		-14.9	%
Weighted-average shares outstanding
Basic				962				986				(24	)		-2.4	%
Diluted				971				996				(25	)		-2.5	%
As adjusted income data:
Operating profit:
U.S. Domestic Package (1)			$	3,154			$	2,938			$	216			7.4	%
International Package				1,311				1,375				(64	)		-4.7	%
Supply Chain & Freight (1)				556				537				19			3.5	%
Total operating profit				5,021				4,850				171			3.5	%
Income before income taxes (1)			$	4,755			$	4,634			$	121			2.6	%
Net income (2)			$	3,114			$	3,059			$	55			1.8	%
Basic earnings per share (2)			$	3.24			$	3.10			$	0.14			4.5	%
Diluted earnings per share (2)			$	3.21			$	3.07			$	0.14			4.6	%

(1) 2012 operating profit and consolidated income before income taxes excluded the $896 million pre-tax charge from the withdrawal liability associated with restructuring a multiemployer pension plan in the U.S. Domestic Package segment. 2011 operating profit and consolidated income before income taxes exclude the $33 million gain on certain real estate transactions ($15 million loss in U.S. Domestic Package and a $48 million gain in Supply Chain & Freight).

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