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.
       

Adjusted
       

Adjusted

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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