Adjusted operating profit was $499 million, down slightly, as customer and product mix changes drove a 3.5% decline in export yields, on a currency neutral basis. Adjusted operating margin of 15.6% remains industry leading.
As a result of the pension mark-to-market adjustment, the segment reported an operating loss of $442 million, on a U.S. GAAP basis.
Earlier this month, UPS announced a new express air freight service, UPS Worldwide Express Freight™, for urgent, time-sensitive and high-value international heavyweight shipments. This new service is an extension of the UPS Worldwide Express package portfolio and offers customers a seamless experience between shipping express package and express freight.
|Supply Chain & Freight||4Q 2012||4Q 2012||4Q 2011||4Q 2011|
|Revenue||$2.44 B||$2.34 B|
|Operating profit (loss)||($541 M||)||$||172 M||$||22 M||$||199 M|
|Operating margin||(22.2 %||)||7.1 %||0.9 %||8.5 %|
Revenue in the Supply Chain & Freight segment increased $94 million or 4.0% compared with the fourth quarter of 2011. Adjusted operating profit was $172 million.
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