United Parcel Service (UPS) 10-Q 30 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 17, 2019
Entity Registrant Name	UNITED PARCEL SERVICE INC
Trading Symbol	UPS
Entity Central Index Key	0001090727
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Class A common stock
Entity Common Stock, Shares Outstanding		163,228,691
Class B common stock
Entity Common Stock, Shares Outstanding		697,526,933

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 4,399	$ 4,225
Marketable securities	712	810
Accounts receivable, net	7,613	8,958
Current income taxes receivable	847	940
Other current assets	1,333	1,277
Total Current Assets	14,904	16,210
Property, Plant and Equipment, Net	27,247	26,576
Operating Lease Right-Of-Use Assets	2,543	0
Goodwill	3,813	3,811
Intangible Assets, Net	2,093	2,075
Investments and Restricted Cash	169	170
Deferred Income Tax Assets	153	141
Other Non-Current Assets	1,139	1,033
Total Assets	52,061	50,016
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases	2,789	2,805
Current maturities of operating leases	492	0
Accounts payable	3,907	5,188
Accrued wages and withholdings	2,913	3,047
Self-insurance reserves	783	810
Accrued group welfare and retirement plan contributions	665	715
Other current liabilities	1,660	1,522
Total Current Liabilities	13,209	14,087
Long-Term Debt and Finance Leases	20,377	19,931
Non-Current Operating Leases	2,093	0
Pension and Postretirement Benefit Obligations	8,270	8,347
Deferred Income Tax Liabilities	1,758	1,619
Self-Insurance Reserves	1,523	1,571
Other Non-Current Liabilities	1,346	1,424
Shareowners' Equity:
Additional paid-in capital	27	0
Retained earnings	8,249	8,006
Accumulated other comprehensive loss	(4,818)	(4,994)
Deferred compensation obligations	25	32
Less: Treasury stock (1 share in 2019 and 2018)	(25)	(32)
Total Equity for Controlling Interests	3,467	3,021
Noncontrolling interests	18	16
Total Shareowners’ Equity	3,485	3,037
Total Liabilities and Shareowners’ Equity	52,061	50,016
Common Class A [Member]
Shareowners' Equity:
Common stock	2	2
Total Equity for Controlling Interests	2	2
Common Class B [Member]
Shareowners' Equity:
Common stock	7	7
Total Equity for Controlling Interests	$ 7	$ 7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Treasury stock, shares	1	1
Class A common stock
Common stock, shares issued	164	163	174	173
Class B common stock
Common stock, shares issued	697	696	689	687

STATEMENTS OF CONSOLIDATED INCO

STATEMENTS OF CONSOLIDATED INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue	$ 17,160	$ 17,113
Operating Expenses:
Compensation and benefits	9,317	9,045
Depreciation and amortization	568	596
Fuel	770	750
Other occupancy	371	361
Other expenses	1,340	1,262
Total Operating Expenses	15,766	15,593
Operating Profit	1,394	1,520
Other Income and (Expense):
Investment income and other	215	294
Interest expense	(169)	(153)
Total Other Income and (Expense)	46	141
Income Before Income Taxes	1,440	1,661
Income Tax Expense	329	316
Net Income	$ 1,111	$ 1,345
Basic Earnings Per Share	$ 1.28	$ 1.55
Diluted Earnings Per Share	$ 1.28	$ 1.55
Repairs and maintenance
Operating Expenses:
Cost of goods sold	$ 434	$ 434
Purchased transportation
Operating Expenses:
Cost of goods sold	$ 2,966	$ 3,145

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,111	$ 1,345
Change in foreign currency translation adjustment, net of tax	53	(6)
Change in unrealized gain (loss) on marketable securities, net of tax	4	(3)
Change in unrealized gain (loss) on cash flow hedges, net of tax	76	(66)
Change in unrecognized pension and postretirement benefit costs, net of tax	43	39
Comprehensive Income	$ 1,287	$ 1,309

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows From Operating Activities:
Net Income	$ 1,111	$ 1,345
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	568	596
Pension and postretirement benefit expense	188	154
Pension and postretirement benefit contributions	(214)	(44)
Self-insurance reserves	(74)	(11)
Deferred tax (benefit) expense	78	106
Stock compensation expense	308	239
Other (gains) losses	40	71
Changes in assets and liabilities, net of effects of business acquisitions:
Accounts receivable	1,301	1,201
Other assets	128	1,100
Accounts payable	(1,143)	(601)
Accrued wages and withholdings	(94)	(67)
Other liabilities	87	(24)
Other liabilities	(7)	2
Net cash from operating activities	2,277	4,067
Cash Flows From Investing Activities:
Capital expenditures	(1,514)	(1,537)
Proceeds from disposals of property, plant and equipment	4	20
Purchases of marketable securities	(248)	(177)
Sales and maturities of marketable securities	349	246
Net (increase) decrease in finance receivables	10	0
Cash paid for business acquisitions, net of cash and cash equivalents acquired	(1)	0
Other investing activities	(16)	2
Net cash used in investing activities	(1,416)	(1,446)
Cash Flows From Financing Activities:
Net change in short-term debt	(1,217)	165
Proceeds from long-term borrowings	2,141	159
Repayments of long-term borrowings	(439)	(1,656)
Purchases of common stock	(246)	(261)
Issuances of common stock	47	77
Dividends	(799)	(754)
Other financing activities	(182)	(280)
Net cash used in financing activities	(695)	(2,550)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	9	(14)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	175	57
Cash, Cash Equivalents and Restricted Cash:
Beginning of period	4,367	3,769
End of period	$ 4,542	$ 3,826

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION AND ACCOUNTING POLICIES Principles of Consolidation In our opinion, the accompanying interim, unaudited, consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. These consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly our financial position as of March 31, 2019 , our results of operations for the three months ended March 31, 2019 and 2018 , and cash flows for the three months ended March 31, 2019 and 2018 . The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for any other period or the entire year. The interim, unaudited, consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 . Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, accounts receivable, finance receivables and accounts payable approximate fair value as of March 31, 2019 and December 31, 2018. The fair values of our investment securities are disclosed in note 5 , our recognized multiemployer pension withdrawal liabilities in note 7 , our short and long-term debt in note 9 and our derivative instruments in note 15 . We utilized Level 1 inputs in the fair value hierarchy of valuation techniques to determine the fair value of our cash and cash equivalents, and Level 2 inputs to determine the fair value of our accounts receivable, finance receivables and accounts payable. Use of Estimates The preparation of the accompanying interim, unaudited, consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best information and actual results could differ materially from those estimates.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Adoption of New Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") 2016-02, Leases (Topic 842) , which requires lessees to recognize a right-of-use asset and lease liability on their balance sheet for all leases with terms beyond twelve months. The new standard also requires enhanced disclosures that provide more transparency and information to financial statement users about lease portfolios. Effective January 1, 2019, we adopted the requirements of this ASU using the modified retrospective approach. The adoption on January 1, 2019 resulted in the recognition of right-of-use assets for operating leases of approximately $2.65 billion and operating lease liabilities of approximately $2.70 billion . The consolidated financial statements for the period ended March 31, 2019 are presented under the new standard, while comparative periods presented have not been adjusted and continue to be reported in accordance with the previous standard. We elected the transition package of practical expedients permitted within the standard. In accordance with the package of practical expedients, we did not reassess initial direct costs, lease classification, or whether our contracts contain or are leases. We also made an accounting policy election to not recognize right-of-use assets and liabilities for leases with an original lease term of twelve months or less, unless the leases include options to renew or purchase the underlying asset that are reasonably certain to be exercised. See note 10 for additional disclosures required by this ASU. In March 2017, the FASB issued an ASU requiring the premium on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount is not impacted by the update. We adopted this standard on January 1, 2019. This standard did not have a material impact on our consolidated financial position, results of operations or cash flows. In August 2017, the FASB issued an ASU to enhance recognition of the economic results of hedging activities in the financial statements. In addition, this update makes certain targeted improvements to simplify the application of hedge accounting guidance and increase transparency regarding the scope and results of hedging activities. We adopted this standard on January 1, 2019. This standard did not have a material impact on our consolidated financial position, results of operations or cash flows but did require additional disclosures. See note 15 for required disclosures pertaining to this ASU. For accounting standards adopted in the period ended March 31, 2018, refer to note 1 to our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018 . Other accounting pronouncements adopted during the periods covered by the consolidated financial statements did not have a material impact on our consolidated financial position, results of operations or cash flows. Accounting Standards Issued But Not Yet Effective In January 2017, the FASB issued an ASU to simplify the accounting for goodwill impairment. The update removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under this ASU, a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The standard will be effective for us in the first quarter of 2020, but early adoption is permitted. We continue to evaluate this update to determine the full impact of its adoption but do not expect this ASU to have a material impact on our consolidated financial position, results of operations or cash flows. Other accounting pronouncements issued, but not effective until after March 31, 2019

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenue Recognition Substantially all of our revenues are from contracts associated with the pick-up, transportation and delivery of packages and freight (referred to hereafter as “transportation services”), whether carried out by or arranged by UPS, both domestically and internationally, which generally occurs over a short period of time. Additionally, we provide value-added logistics services to customers through our global network of company-owned and leased distribution centers and field stocking locations, both domestically and internationally. Disaggregation of Revenue Three Months Ended 2019 2018 Revenue: Next Day Air $ 1,841 $ 1,784 Deferred 1,089 1,069 Ground 7,550 7,374 U.S. Domestic Package 10,480 10,227 Domestic 690 716 Export 2,631 2,672 Cargo & Other 138 145 International Package 3,459 3,533 Forwarding 1,416 1,605 Logistics 832 782 Freight 773 777 Other 200 189 Supply Chain & Freight 3,221 3,353 Consolidated revenue $ 17,160 $ 17,113 We account for a contract when both parties have approved the contract and are committed to perform their obligations, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the basis of revenue recognition in accordance with U.S. GAAP. To determine the proper revenue recognition method for contracts, we evaluate whether two or more contracts should be combined and accounted for as one single contract and whether the combined or single contract should be accounted for as more than one performance obligation. This evaluation requires judgment, and the decision to combine a group of contracts or separate the combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. For most of our contracts, the customer contracts with us to provide distinct services within a contract, such as transportation services. The vast majority of our contracts with customers for transportation services include only one performance obligation, the transportation services themselves. However, if a contract is separated into more than one performance obligation, we allocate the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We frequently sell standard transportation services with observable standalone sales prices. In these instances, the observable standalone sales are used to determine the standalone selling price. In certain business units, such as Logistics, we sell customized, customer-specific solutions in which we provide a significant service of integrating a complex set of tasks and components into a single capability (even if that single capability results in the delivery of multiple units). Hence, the entire contract is accounted for as one performance obligation. In these cases we typically use the expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. Satisfaction of Performance Obligations We generally recognize revenue over time as we perform the services in the contract because of the continuous transfer of control to the customer. Our customers receive the benefit of our services as the goods are transported from one location to another. Further, if we were unable to complete delivery to the final location, another entity would not need to reperform the transportation service already performed. As control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. We use the cost-to-cost measure of progress for our package delivery contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues, including ancillary or accessorial fees and reductions for estimated customer incentives, are recorded proportionally as costs are incurred. Costs to fulfill include labor and other direct costs and an allocation of indirect costs. For our freight and freight forwarding contracts, an output method of progress based on time-in-transit is utilized as the timing of costs incurred does not best depict the transfer of control to the customer. In our Logistics business we have a right to consideration from customers in an amount that corresponds directly with the value to the customers of our performance completed to date, and as such we recognize revenue in the amount of which we have a right to invoice the customer. Variable Consideration It is common for our contracts to contain customer incentives, guaranteed service refunds or other provisions that can either increase or decrease the transaction price. These variable amounts are generally dependent upon achievement of certain incentive tiers or performance metrics. We estimate variable consideration at the most likely amount to which we expect to be entitled. We include estimated amounts of revenue, which may be reduced by incentives or other contract provisions, in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on an assessment of anticipated customer spending and all information (historical, current and forecasted) that is reasonably available to us. Contract Modifications Contracts are often modified to account for changes in the rates we charge our customers or to add additional distinct services. We consider contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. Contract modifications that add additional distinct goods or services are treated as separate contracts. Contract modifications that do not add distinct goods or services typically change the price of existing services. These contract modifications are accounted for prospectively as the remaining performance obligations are distinct. Payment Terms Under the typical payment terms of our customer contracts, the customer pays at periodic intervals (i.e., every 14 days, 30 days, 45 days, etc.) for shipments included on invoices received. Invoices are generated each week on the week-ending day, which is Saturday for the majority of our U.S. Domestic Package business, but could be another day depending on the business unit or the specific agreement with the customer. It is not customary business practice to extend payment terms past 90 days, and as such, we do not have a practice of including a significant financing component within our revenue contracts with customers. Principal vs. Agent Considerations In our transportation businesses, we utilize independent contractors and third-party carriers in the performance of some transportation services. U.S. GAAP requires us to evaluate whether our businesses themselves promise to transfer services to the customer (as the principal) or to arrange for services to be provided by another party (as the agent) using a control model. Based on our evaluation of the control model, we determined that all of our major businesses act as the principal rather than the agent within their revenue arrangements. Revenue and the associated purchased transportation costs are both reported on a gross basis within our statements of consolidated income. Accounts Receivable, Net Accounts receivable, net, include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. Losses on accounts receivable are recognized when they are incurred, which requires us to make our best estimate of the probable losses inherent in our customer receivables at each balance sheet date. These estimates require consideration of historical loss experience, adjusted for current conditions, trends in customer payment frequency, and judgments about the probable effects of relevant observable data, including present economic conditions and the financial health of specific customers and market sectors. Our risk management process includes standards and policies for reviewing major account exposures and concentrations of risk. Our total provision for doubtful accounts charged to expense before recoveries during the quarters ended March 31, 2019 and 2018 was $37 and $12 million , respectively. Contract Assets and Liabilities Contract assets include billed and unbilled amounts resulting from in-transit packages, as we have an unconditional right to payment only once all performance obligations have been completed (i.e., packages have been delivered), and our right to payment is not solely based on the passage of time. Amounts may not exceed their net realizable value. Contract assets are generally classified as current and the full balance is converted each quarter based on the short-term nature of the transactions. Contract liabilities consist of advance payments and billings in excess of revenue as well as deferred revenue. Advance payments and billings in excess of revenue represent payments received from our customers that will be earned over the contract term. Deferred revenue represents the amount of consideration due from customers related to in-transit shipments that has not yet been recognized as revenue based on our selected measure of progress. We classify advance payments and billings in excess of revenue as either current or long-term, depending on the period over which the advance payment will be earned. We classify deferred revenue as current based on the timing of when we expect to recognize revenue, which typically occurs within a short window after period-end. The full balance of deferred revenue is converted each quarter based on the short-term nature of the transactions. Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. In order to determine revenue recognized in the period from contract liabilities, we first allocate revenue to the individual contract liability balance outstanding at the beginning of the period until the revenue exceeds that deferred revenue balance. Contract assets related to in-transit packages were $170 and $234 million at March 31, 2019 and December 31, 2018, respectively, net of deferred revenue related to in-transit packages of $229 and $236 million at March 31, 2019 and December 31, 2018, respectively. Contract assets are included within "Other current assets" in the consolidated balance sheets. Short-term contract liabilities related to advanced payments from customers were $5 million at March 31, 2019 and December 31, 2018, respectively. Short-term contract liabilities are included within "Other current liabilities" in the consolidated balance sheets. Long-term contract liabilities related to advanced payments from customers were $26 million at March 31, 2019

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We issue employee share-based awards under various incentive compensation plans, which permit the grant of non-qualified and incentive stock options, stock appreciation rights, restricted stock and stock units, and restricted performance shares and performance units to eligible employees (restricted stock and stock units, restricted performance shares and performance units are herein referred to as "Restricted Units"). Upon vesting, Restricted Units result in the issuance of the equivalent number of UPS class A common shares after required tax withholdings. Dividends accrued on Restricted Units are reinvested in additional Restricted Units at each dividend payable date, and are subject to the same vesting and forfeiture conditions as the underlying Restricted Units upon which they are earned. The primary compensation programs offered under the UPS Incentive Compensation Plan include the UPS Management Incentive Award program, the UPS Long-Term Incentive Performance Award program and the UPS Stock Option program. We also maintain an employee stock purchase plan which allows eligible employees to purchase shares of UPS class A common stock at a discount. Additionally, our matching contributions to the primary employee defined contribution savings plan are made in shares of UPS class A common stock. Management Incentive Award Program ("MIP") We award Restricted Units under MIP to certain eligible management employees. For Restricted Units granted under MIP prior to 2019 , vesting generally occurs over a five -year period with approximately 20% of the award vesting on January 15th of each of the years following the grant date (except in the case of death or disability, in which case immediate vesting occurs). The entire grant is expensed on a straight-line basis (less estimated forfeitures) ratably over the requisite service period (except in the case of death, disability or retirement, in which case immediate expensing occurs). These historical awards will continue to vest through 2023. Beginning with the MIP grant in the first quarter of 2019 , Restricted Units vest one year following the grant date (except in the case of death or disability, in which case immediate vesting occurs). The entire grant is expensed on a straight-line basis (less estimated forfeitures) ratably over the requisite service period (except in the case of death, disability or retirement, in which case immediate expensing occurs). Based on the date that the eligible management population and performance targets were approved for MIP, we determined the award measurement dates to be February 6, 2019 (for U.S.-based employees other than management committee employees), February 14, 2019 (for management committee employees) and March 25, 2019 (for international-based employees); therefore, the Restricted Units awarded were valued for stock compensation expense purposes using the closing New York Stock Exchange price of $108.82 , $111.80 and $106.90 on those dates, respectively. Long-Term Incentive Performance Award Program ("LTIP") We award Restricted Units under LTIP to certain eligible management employees. These Restricted Units generally vest at the end of a three -year period (except in the case of death, disability or retirement, in which case immediate vesting occurs on a prorated basis). The number of Restricted Units earned will be based on the percentage achievement of the performance targets established on the grant date. The performance targets are equally-weighted among consolidated operating return on invested capital ("ROIC"), growth in currency-constant consolidated revenue and total shareowner return ("RTSR") relative to a peer group of companies. For the two-thirds of the award related to ROIC and growth in currency-constant consolidated revenue, we recognize the grant date fair value of these Restricted Units (less estimated forfeitures) as compensation expense ratably over the vesting period, based on the number of awards expected to be earned. The remaining one-third of the award related to RTSR is valued using a Monte Carlo model. We recognize the grant date fair value of this portion of the award (less estimated forfeitures) as compensation expense ratably over the vesting period. Based on the date that the eligible management population and performance targets were approved for the 2019 LTIP Award, we determined the award measurement date to be March 22, 2019; therefore, the target Restricted Units awarded for the ROIC and growth in currency-constant consolidated revenue portions of the award were valued for stock compensation expense using the closing New York Stock Exchange price of $107.35 on that date. The weighted-average assumptions used and the calculated weighted-average fair values of the RTSR portion of the LTIP awards granted in 2019 and 2018 are as follows: 2019 2018 Risk-free interest rate 2.24 % 2.61 % Expected volatility 19.61 % 16.51 % Weighted-average fair value of units granted $ 123.40 $ 137.57 Share payout 114.95 % 123.47 % There is no expected dividend yield as units earn dividend equivalents. Non-Qualified Stock Options During the first quarter of 2019 , we granted non-qualified stock option awards to a limited group of eligible senior management employees under the UPS Stock Option program. Stock option awards generally vest over a five -year period with approximately 20% of the award vesting at each anniversary of the grant date (except in the case of death or disability, in which case immediate vesting occurs). The options granted expire 10 years after the date of the grant. In the first quarter of 2019 , we granted 0.3 million stock options at a grant price of $111.80 , which is based on the closing New York Stock Exchange price on February 14, 2019. In the first quarter of 2018, we granted 0.3 million and 0.01 million stock options at a grant price of $ 106.43 and $ 104.45 , which is based on the closing New York Stock Exchange price on March 1, 2018 and March 22, 2018, respectively. The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the calculated weighted-average fair values of options granted in 2019 and 2018 are as follows: 2019 2018 Expected dividend yield 2.93 % 2.93 % Risk-free interest rate 2.60 % 2.84 % Expected life (in years) 7.5 7.5 Expected volatility 17.79 % 16.72 % Weighted-average fair value of options granted $ 16.39 $ 15.23 Compensation expense for share-based awards recognized in "Compensation and benefits" on the statements of consolidated income for the three months ended March 31, 2019 and 2018 was $ 308 and $ 239

INVESTMENTS AND RESTRICTED CASH

INVESTMENTS AND RESTRICTED CASH	3 Months Ended
	Mar. 31, 2019
Marketable Securities [Abstract]
INVESTMENTS AND RESTRICTED CASH	CASH AND INVESTMENTS The following is a summary of marketable securities classified as trading and available-for-sale as of March 31, 2019 and December 31, 2018 (in millions): Cost Unrealized Gains Unrealized Losses Estimated Fair Value March 31, 2019: Current trading marketable securities: Corporate debt securities $ 113 $ — $ — $ 113 Equity securities 2 — — 2 Total trading marketable securities 115 — — 115 Current available-for-sale securities: U.S. government and agency debt securities 293 1 (1 ) 293 Mortgage and asset-backed debt securities 73 1 — 74 Corporate debt securities 210 1 (1 ) 210 Non-U.S. government debt securities 20 — — 20 Total available-for-sale marketable securities 596 3 (2 ) 597 Total current marketable securities $ 711 $ 3 $ (2 ) $ 712 Cost Unrealized Gains Unrealized Losses Estimated Fair Value December 31, 2018: Current trading marketable securities: Corporate debt securities $ 137 $ — $ — $ 137 Equity securities 2 — — 2 Total trading marketable securities 139 — — 139 Current available-for-sale securities: U.S. government and agency debt securities 297 1 (1 ) 297 Mortgage and asset-backed debt securities 82 — (1 ) 81 Corporate debt securities 275 — (2 ) 273 Non-U.S. government debt securities 20 — — 20 Total available-for-sale marketable securities 674 1 (4 ) 671 Total current marketable securities $ 813 $ 1 $ (4 ) $ 810 Investment Other-Than-Temporary Impairments We have concluded that no material other-than-temporary impairment losses existed as of March 31, 2019 . In making this determination, we considered the financial condition and prospects of the issuer, the magnitude of the losses compared with the investments’ cost, the probability that we will be unable to collect all amounts due according to the contractual terms of the security, the credit rating of the security and our ability and intent to hold these investments until the anticipated recovery in market value occurs. Maturity Information The amortized cost and estimated fair value of marketable securities at March 31, 2019 , by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Cost Estimated Fair Value Due in one year or less $ 33 $ 33 Due after one year through three years 578 578 Due after three years through five years 23 23 Due after five years 75 76 709 710 Equity securities 2 2 $ 711 $ 712 Non-Current Investments and Restricted Cash Non-current investments and restricted cash is primarily associated with our self-insurance programs. We entered into an escrow agreement with an insurance carrier to guarantee our self-insurance obligations. This agreement requires us to provide collateral to the insurance carrier, which is invested in various marketable securities and cash equivalents. Collateral provided is reflected in "Cash, Cash Equivalents and Restricted Cash" in the statements of consolidated cash flows. At March 31, 2019 and December 31, 2018 , we had $ 143 and $ 142 million in self-insurance investments and restricted cash, respectively. We held a $20 and $19 million investment in a variable life insurance policy to fund benefits for the UPS Excess Coordinating Benefit Plan at March 31, 2019 and December 31, 2018 respectively. The quarterly change in investment fair value is recognized in "Investment income and other" on the statements of consolidated income. Additionally, we held escrowed cash related to the acquisition and disposition of certain assets, primarily real estate, of $6 and $ 9 million as of March 31, 2019 and December 31, 2018 , respectively. The amounts described above are classified as “Investments and Restricted Cash” in the consolidated balance sheets. A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions): March 31, 2019 December 31, 2018 March 31, 2018 Cash and cash equivalents $ 4,399 $ 4,225 $ 3,544 Restricted cash 143 142 282 Total cash, cash equivalents and restricted cash $ 4,542 $ 4,367 $ 3,826 Fair Value Measurements Marketable securities valued utilizing Level 1 inputs include active exchange-traded equity securities and equity index funds, and most U.S. government debt securities, as these securities all have quoted prices in active markets. Marketable securities valued utilizing Level 2 inputs include asset-backed securities, corporate bonds and municipal bonds. These securities are valued using market corroborated pricing, matrix pricing or other models that utilize observable inputs such as yield curves. We maintain holdings in certain investment partnerships that are measured at fair value utilizing Level 3 inputs (classified as “Other non-current investments” in the tables below, and as “Other Non-Current Assets” in the consolidated balance sheets). These partnership holdings do not have quoted prices, nor can they be valued using inputs based on observable market data. These investments are valued internally using a discounted cash flow model with two significant inputs: (1) the after-tax cash flow projections for each partnership, and (2) a risk-adjusted discount rate consistent with the duration of the expected cash flows for each partnership. The weighted-average discount rates used to value these investments were 8.00% and 8.16% as of March 31, 2019 and December 31, 2018 , respectively. These inputs, and the resulting fair values, are updated on a quarterly basis. The level 3 instruments measured on a recurring basis totaled $2 million as of March 31, 2019 and December 31, 2018 . The following table presents information about our investments measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance March 31, 2019: Marketable Securities: U.S. government and agency debt securities $ 293 $ — $ — $ 293 Mortgage and asset-backed debt securities — 74 — 74 Corporate debt securities — 323 — 323 Equity securities — 2 — 2 Non-U.S. government debt securities — 20 — 20 Total marketable securities 293 419 — 712 Other non-current investments 20 — 2 22 Total $ 313 $ 419 $ 2 $ 734 December 31, 2018: Marketable Securities: U.S. government and agency debt securities $ 297 $ — $ — $ 297 Mortgage and asset-backed debt securities 81 — 81 Corporate debt securities — 410 — 410 Equity securities — 2 — 2 Non-U.S. government debt securities — 20 — 20 Total marketable securities 297 513 — 810 Other non-current investments 19 — 2 21 Total $ 316 $ 513 $ 2 $ 831 There were no transfers of investments between Level 1 and Level 2 during the three months ended March 31, 2019 or 2018

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of March 31, 2019 and December 31, 2018 consists of the following (in millions): 2019 2018 Vehicles $ 9,936 $ 9,820 Aircraft 17,625 17,499 Land 2,056 2,000 Buildings 4,844 4,808 Building and leasehold improvements 4,461 4,323 Plant equipment 11,899 11,833 Technology equipment 2,097 2,093 Construction-in-progress 2,447 2,112 55,365 54,488 Less: Accumulated depreciation and amortization (28,118 ) (27,912 ) $ 27,247 $ 26,576 As part of our ongoing investment in transformation, in 2018 we made prospective revisions to our estimates of useful lives for building improvements, vehicles and plant equipment which in general had the effect of lengthening the useful lives of these categories. Additionally, we made capital investments in property, plant and equipment, net of disposals and fully-depreciated assets, that resulted in an increase in depreciation expense of $ 90 million and a decrease to net income of $ 69 million or $ 0.08 per share on a basic and diluted basis in the first quarter of 2019. This increase was offset by the effect of lengthening the useful lives of various asset categories which resulted in a decrease in depreciation expense and an increase in operating income of $ 127 million and an increase to net income of $ 98 million or $0.11 per share on a basic and diluted basis in the first quarter of 2019. Combining both impacts resulted in a net decrease of $ 37 million to depreciation expense, and an increase to net income of $ 29 million or $ 0.03 per share on both a basic and diluted basis in the first quarter of 2019. We continually monitor our aircraft fleet utilization in light of current and projected volume levels, aircraft fuel prices and other factors. Additionally, we monitor all other property, plant and equipment categories for any indicators that the carrying value of the assets may not be recoverable. No impairment charges on property, plant and equipment were recorded during the three months ended March 31, 2019 or 2018

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Company-Sponsored Benefit Plans Information about net periodic benefit cost for our company-sponsored pension and postretirement benefit plans is as follows for the three months ended March 31, 2019 and 2018 (in millions): U.S. Pension Benefits U.S. Postretirement Medical Benefits International Pension Benefits 2019 2018 2019 2018 2019 2018 Three Months Ended March 31: Service cost $ 359 $ 416 $ 6 $ 7 $ 14 $ 16 Interest cost 517 449 27 26 12 12 Expected return on assets (782 ) (801 ) (2 ) (2 ) (19 ) (20 ) Amortization of prior service cost 54 49 2 2 — — Net periodic benefit cost $ 148 $ 113 $ 33 $ 33 $ 7 $ 8 During the first three months of 2019 , we contributed $ 22 and $192 million to our company-sponsored pension and U.S. postretirement medical benefit plans, respectively. We currently expect to contribute $2.1 billion and $52 million over the remainder of the year to the pension and U.S. postretirement medical benefit plans, respectively. Subject to market conditions, we continually evaluate opportunities for additional discretionary pension contributions. The components of net periodic benefit cost other than current service cost are presented within “Investment income and other” in the statements of consolidated income. Multiemployer Benefit Plans We contribute to a number of multiemployer defined benefit and health and welfare plans under the terms of collective bargaining agreements that cover our union-represented employees. Our current collective bargaining agreements set forth the annual contribution increases allotted to the plans that we participate in, and we are in compliance with these contribution rates. These limitations on annual contribution rates will remain in effect throughout the terms of the existing collective bargaining agreements. As of March 31, 2019 and December 31, 2018 we had $ 850 and $852 million , respectively, recorded in "Other Non-Current Liabilities" as well as $7 million as of March 31, 2019 and December 31, 2018 , recorded in "Other current liabilities" in our consolidated balance sheets associated with our previous withdrawal from a multiemployer pension plan. This liability is payable in equal monthly installments over a remaining term of approximately 44 years. Based on the borrowing rates currently available to us for long-term financing of a similar maturity, the fair value of this withdrawal liability as of March 31, 2019 and December 31, 2018 was $ 851 and $ 832 million , respectively. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of this liability. UPS was a contributing employer to the Central States Pension Fund (“CSPF”) until 2007 when we withdrew from the CSPF and fully funded our allocable share of unfunded vested benefits by paying a $6.1 billion withdrawal liability. Under a collective bargaining agreement with the International Brotherhood of Teamsters (“IBT”), UPS agreed to provide coordinating benefits in the UPS/IBT Full Time Employee Pension Plan (“UPS/IBT Plan”) for UPS participants whose last employer was UPS and who had not retired as of January 1, 2008 (“the UPS Transfer Group”) in the event that benefits are lawfully reduced by the CSPF in the future consistent with the terms of our withdrawal agreement with the CSPF. Under our withdrawal agreement with the CSPF, benefits to the UPS Transfer Group cannot be reduced without our consent and can only be reduced in accordance with applicable law. In December 2014, Congress passed the Multiemployer Pension Reform Act (“MPRA”). This change in law for the first time permitted multiemployer pension plans to reduce benefit payments to retirees, subject to specific guidelines in the statute and government approval. In September 2015, the CSPF submitted a proposed pension benefit reduction plan to the U.S. Department of the Treasury (“Treasury”). In May 2016, Treasury rejected the proposed plan submitted by the CSPF. In the first quarter of 2018, Congress established a Joint Select Committee to develop a recommendation to improve the solvency of multiemployer plans and the Pension Benefit Guaranty Corporation (“PBGC”) before a November 30, 2018 deadline. While the Committee’s efforts failed to meet its deadline, the Committee made significant progress towards finding solutions that will address the long term solvency of multiemployer pension plans. UPS will continue to work with all stakeholders, including legislators and regulators, to implement an acceptable solution. The CSPF has said that it believes a legislative solution to its funded status is necessary or that it will become insolvent in 2025, and we expect that the CSPF will continue to explore options to avoid insolvency. Numerous factors could affect the CSPF’s funded status and UPS’s potential obligation to pay coordinating benefits under the UPS/IBT Plan. Any obligation to pay coordinating benefits will be subject to a number of significant uncertainties, including whether the CSPF submits a revised MPRA filing and the terms thereof, or whether it otherwise seeks federal government assistance, as well as the terms of any applicable legislation, the extent to which benefits are paid by the PBGC and our ability to successfully defend legal positions we may take in the future under the MPRA, including the suspension ordering provisions, our withdrawal agreement and other applicable law. We account for the potential obligation to pay coordinating benefits to the UPS Transfer Group under Accounting Standards Codification Topic 715- Compensation- Retirement Benefits (“ASC 715”), which requires us to provide a best estimate of various actuarial assumptions, including the eventual outcome of this matter, in measuring our pension benefit obligation at the December 31st measurement date. While we currently believe the most likely outcome to this matter and the broader systemic problems facing multiemployer pension plans is intervention by the federal government, ASC 715 does not permit anticipation of changes in law in making a best estimate of pension liabilities. As such, our best estimate of the next most likely outcome at the December 31, 2018 measurement date was that the CSPF would submit and implement another benefit reduction plan under the MPRA during 2019. We believe any MPRA filing would be designed to forestall insolvency by reducing benefits to participants other than the UPS Transfer Group to the maximum extent permitted, and then reducing benefits to the UPS Transfer Group by a lesser amount. We evaluated this outcome using a deterministic cash flow projection, reflecting updated estimated CSPF cash flows and investment earnings, the lack of legislative action and the absence of a MPRA filing by the CSPF. As a result, at the December 31, 2018 measurement date, the best estimate of our projected benefit obligation increased by $1.6 billion for coordinating benefits that may be required to be directly provided by the UPS/IBT Plan to the UPS Transfer Group. The future value of this estimate will be influenced by the terms and timing of any MPRA filing, changes in our discount rate, rate of return on assets and other actuarial assumptions, presumed solvency of the PBGC, as well as potential solutions resulting from federal government intervention. Any such event may result in a decrease or an increase in the best estimate of our projected benefit obligation. If the uncertainties are not resolved, it is reasonably possible that our projected benefit obligation could increase by approximately $2.4 billion , resulting in a total obligation for coordinating benefits of approximately $4.0 billion as previously disclosed. If a future change in law occurs, it may be a significant event requiring an interim remeasurement of the UPS/IBT Plan at the date the law is enacted. We will continue to assess the impact of these uncertainties on our projected benefit obligation in accordance with ASC 715. Collective Bargaining Agreements As of December 31, 2018, we had approximately 283,000 employees employed under a national master agreement and various supplemental agreements with local unions affiliated with the Teamsters. These agreements expired on July 31, 2018, but had been indefinitely extended pending the ratification of a new agreement with the Teamsters. On April 28, 2019, the Teamsters ratified a new national master agreement ("NMA") with UPS that will expire on August 1, 2023. Most of the economic provisions of the NMA are retroactive to August 1, 2018, which is the effective date of the NMA. The UPS Freight business unit national master agreement was ratified on November 11, 2018. We have approximately 2,800 pilots who are employed under a collective bargaining agreement with the Independent Pilots Association ("IPA"), which becomes amendable on September 1, 2021. We have approximately 1,400 airline mechanics who are covered by a collective bargaining agreement with Teamsters Local 2727. On February 8, 2019, the airline mechanics who are covered by this agreement voted to ratify a new contract which will become amendable November 1, 2023. In addition, approximately 3,100

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table indicates the allocation of goodwill by reportable segment as of March 31, 2019 and December 31, 2018 (in millions): U.S. Domestic Package International Package Supply Chain & Freight Consolidated December 31, 2018: $ 715 $ 417 $ 2,679 $ 3,811 Acquired — 2 — 2 Currency / Other — (2 ) 2 — March 31, 2019: $ 715 $ 417 $ 2,681 $ 3,813 The change in goodwill for both the International Package and Supply Chain & Freight segments was primarily due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances. The following is a summary of intangible assets as of March 31, 2019 and December 31, 2018 (in millions): Gross Carrying Amount Accumulated Amortization Net Carrying Value March 31, 2019: Capitalized software $ 3,783 $ (2,524 ) $ 1,259 Licenses 117 (43 ) 74 Franchise rights 146 (106 ) 40 Customer relationships 737 (236 ) 501 Trade name 200 — 200 Trademarks, patents and other 55 (36 ) 19 Total Intangible Assets, Net $ 5,038 $ (2,945 ) $ 2,093 December 31, 2018: Capitalized software $ 3,693 $ (2,478 ) $ 1,215 Licenses 117 (36 ) 81 Franchise rights 145 (105 ) 40 Customer relationships 736 (217 ) 519 Trade name 200 — 200 Trademarks, patents and other 52 (31 ) 20 Total Intangible Assets, Net $ 4,943 $ (2,867 ) $ 2,075 As of March 31, 2019 , we had a trade name with a carrying value of $ 200 million and licenses with a carrying value of $ 4

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
LEASES	NOTE 10 . LEASES We adopted ASU 2016-02, Leases (Topic 842) , on January 1, 2019. The standard requires lessees to recognize a right-of-use ("ROU") asset and lease liability for all leases. Some of our leases contain both lease and non-lease components, which we have elected to treat as a single lease component. We have also elected not to recognize leases that have an original lease term, including reasonably certain renewal or purchase options, of twelve months or less in our consolidated balance sheets for all classes of underlying assets. Lease costs for short-term leases are recognized on a straight-line basis over the lease term. We elected the package of transition practical expedients for existing contracts, which allowed us to carry forward our historical assessments of whether contracts are or contain leases, lease classification and determination of initial direct costs. We lease property and equipment under finance and operating leases. We have operating and finance leases for package centers, airport facilities, warehouses, corporate office space, aircraft, aircraft engines, information technology equipment (primarily mainframes, servers and copiers), vehicles and various other equipment used in operating our business. Certain leases for real estate and aircraft contain options to purchase, extend or terminate the lease. Determining the lease term and amount of lease payments to include in the calculation of the ROU asset and lease liability for leases containing options requires the use of judgment to determine whether the exercise of an option is reasonably certain, and if the optional period and payments should be included in the calculation of the associated ROU asset and liability. In making this determination, we consider all relevant economic factors that would compel us to exercise or not exercise an option. When available, we use the rate implicit in the lease to discount lease payments; however, the rate implicit in the lease is not readily determinable for substantially all of our leases. In such cases, we use an estimate of our incremental borrowing rate to discount lease payments based on information available at lease commencement. Aircraft In addition to the aircraft that we own, we have leases for 332 additional aircraft. Of these leased aircraft, 34 are classified as finance leases, 12 are classified as operating leases and the remaining 286 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. The long-term aircraft operating leases are operated by a third party to handle package and cargo volume in geographic regions where, due to government regulations, we are restricted from operating an airline. In order to meet customers' needs, we charter aircraft to handle package and cargo volume on certain international trade lanes and domestic routes. Due to the nature of these agreements, primarily being that either party can cancel the agreement with short notice, we have classified these as short-term leases. Additionally, all of the lease payments associated with these charter agreements are variable in nature based on the number of hours flown. Real Estate We have operating and finance leases for package centers, airport facilities, warehouses, corporate office space, and expansion facilities utilized during peak shipping periods. Many of our leases contain charges for common area maintenance or other miscellaneous expenses that are updated based on landlord estimates. Due to this variability, the cash flows associated with these charges are not included in the minimum lease payments used in determining the ROU asset and associated lease liability. Some of our real estate leases contain options to renew or extend the lease or terminate the lease before the expiration date. These options are factored into the determination of the lease term and lease payments when their exercise is considered to be reasonably certain. From time to time, we enter leases with the intention of purchasing the property, either through purchase options with a fixed price or a purchase agreement negotiated contemporaneously with the lease agreement. We classify these leases as finance leases and include the purchase date and purchase price in the lease term and lease payments, respectively, when the option exercise or purchase is reasonably certain. Transportation equipment and other equipment We enter into both long-term and short-term leases for transportation equipment to supplement our capacity or meet contractual demands. Some of these assets are leased on a month-to-month basis and the leases can be terminated without penalty. The lease term for these types of leases is determined by the length of the underlying customer contract or based on the judgment of the business unit. We also enter into multi-year leases for trailers to increase capacity during periods of high demand, which are typically only used for 90-120 days during the year. These leases are treated as short-term as the cumulative right-of-use is less than 12 months over the term of the contract. The remainder of our leases are primarily related to equipment used in our air operations, vehicles required to meet capacity needs during periods of higher demand for our shipping services, technology equipment and office equipment used in our facilities. Some of our transportation and technology equipment leases require us to make additional lease payments based on the underlying usage of the assets. Due to the variable nature of these costs, these are expensed as incurred and are not included in the ROU asset and lease liability. The components of lease expense for the three months ended March 31, 2019 are as follows (in millions): Three Months Ended Operating lease costs $ 157 Finance lease costs: Amortization of assets 19 Interest on lease liabilities 5 Total finance lease costs 24 Variable and short-term lease costs 278 Total lease costs $ 459 Supplemental information and balance sheet location related to leases is as follows (in millions, except lease term and discount rate): March 31, 2019 Operating Leases: Operating lease right-of-use assets $ 2,543 Current maturities of operating leases $ 492 Non-current operating leases 2,093 Total operating lease liabilities $ 2,585 Finance Leases: Property, plant and equipment, at cost $ 2,569 Accumulated amortization 942 Property, plant and equipment, net $ 1,627 Current maturities of long-term debt, commercial paper and finance leases $ 138 Long-term debt and finance leases 387 Total finance lease liabilities $ 525 Weighted average remaining lease term (in years): Operating leases 9.1 Finance leases 9.4 Weighted average discount rate: Operating leases 2.74 % Finance leases 4.28 % Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 153 Operating cash flows from finance leases 2 Financing cash flows from finance leases 4 ROU assets obtained in exchange for lease liabilities: Operating leases $ 34 Maturities of lease liabilities as of March 31, 2019 are as follows (in millions): Finance Leases Operating Leases 2019 $ 150 $ 430 2020 93 498 2021 44 422 2022 38 350 2023 36 282 Thereafter 292 1,045 Total lease payments 653 3,027 Less: Imputed interest (128 ) (442 ) Total lease obligations 525 2,585 Less: Current obligations (138 ) (492 ) Long-term lease obligations $ 387 $ 2,093 As of March 31, 2019, we have additional leases which have not commenced. These leases will commence when we are granted access to the property, such as when leasehold improvements are completed by the lessor or a certificate of occupancy is obtained. These leases will commence in 2019 and 2020. Disclosures related to periods prior to adoption of the new lease standard The following table sets forth the aggregate minimum lease payments under capital and operating leases (in millions) as of December 31, 2018: Capital Leases Operating Leases 2019 $ 158 $ 578 2020 95 477 2021 42 399 2022 39 325 2023 36 262 After 2023 293 926 Total lease payments 663 2,967 Less: Imputed interest (129 ) Total lease obligations 534 Less: Current obligations (140 ) Long-term lease obligations $ 394
LEASES	NOTE 10 . LEASES We adopted ASU 2016-02, Leases (Topic 842) , on January 1, 2019. The standard requires lessees to recognize a right-of-use ("ROU") asset and lease liability for all leases. Some of our leases contain both lease and non-lease components, which we have elected to treat as a single lease component. We have also elected not to recognize leases that have an original lease term, including reasonably certain renewal or purchase options, of twelve months or less in our consolidated balance sheets for all classes of underlying assets. Lease costs for short-term leases are recognized on a straight-line basis over the lease term. We elected the package of transition practical expedients for existing contracts, which allowed us to carry forward our historical assessments of whether contracts are or contain leases, lease classification and determination of initial direct costs. We lease property and equipment under finance and operating leases. We have operating and finance leases for package centers, airport facilities, warehouses, corporate office space, aircraft, aircraft engines, information technology equipment (primarily mainframes, servers and copiers), vehicles and various other equipment used in operating our business. Certain leases for real estate and aircraft contain options to purchase, extend or terminate the lease. Determining the lease term and amount of lease payments to include in the calculation of the ROU asset and lease liability for leases containing options requires the use of judgment to determine whether the exercise of an option is reasonably certain, and if the optional period and payments should be included in the calculation of the associated ROU asset and liability. In making this determination, we consider all relevant economic factors that would compel us to exercise or not exercise an option. When available, we use the rate implicit in the lease to discount lease payments; however, the rate implicit in the lease is not readily determinable for substantially all of our leases. In such cases, we use an estimate of our incremental borrowing rate to discount lease payments based on information available at lease commencement. Aircraft In addition to the aircraft that we own, we have leases for 332 additional aircraft. Of these leased aircraft, 34 are classified as finance leases, 12 are classified as operating leases and the remaining 286 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. The long-term aircraft operating leases are operated by a third party to handle package and cargo volume in geographic regions where, due to government regulations, we are restricted from operating an airline. In order to meet customers' needs, we charter aircraft to handle package and cargo volume on certain international trade lanes and domestic routes. Due to the nature of these agreements, primarily being that either party can cancel the agreement with short notice, we have classified these as short-term leases. Additionally, all of the lease payments associated with these charter agreements are variable in nature based on the number of hours flown. Real Estate We have operating and finance leases for package centers, airport facilities, warehouses, corporate office space, and expansion facilities utilized during peak shipping periods. Many of our leases contain charges for common area maintenance or other miscellaneous expenses that are updated based on landlord estimates. Due to this variability, the cash flows associated with these charges are not included in the minimum lease payments used in determining the ROU asset and associated lease liability. Some of our real estate leases contain options to renew or extend the lease or terminate the lease before the expiration date. These options are factored into the determination of the lease term and lease payments when their exercise is considered to be reasonably certain. From time to time, we enter leases with the intention of purchasing the property, either through purchase options with a fixed price or a purchase agreement negotiated contemporaneously with the lease agreement. We classify these leases as finance leases and include the purchase date and purchase price in the lease term and lease payments, respectively, when the option exercise or purchase is reasonably certain. Transportation equipment and other equipment We enter into both long-term and short-term leases for transportation equipment to supplement our capacity or meet contractual demands. Some of these assets are leased on a month-to-month basis and the leases can be terminated without penalty. The lease term for these types of leases is determined by the length of the underlying customer contract or based on the judgment of the business unit. We also enter into multi-year leases for trailers to increase capacity during periods of high demand, which are typically only used for 90-120 days during the year. These leases are treated as short-term as the cumulative right-of-use is less than 12 months over the term of the contract. The remainder of our leases are primarily related to equipment used in our air operations, vehicles required to meet capacity needs during periods of higher demand for our shipping services, technology equipment and office equipment used in our facilities. Some of our transportation and technology equipment leases require us to make additional lease payments based on the underlying usage of the assets. Due to the variable nature of these costs, these are expensed as incurred and are not included in the ROU asset and lease liability. The components of lease expense for the three months ended March 31, 2019 are as follows (in millions): Three Months Ended Operating lease costs $ 157 Finance lease costs: Amortization of assets 19 Interest on lease liabilities 5 Total finance lease costs 24 Variable and short-term lease costs 278 Total lease costs $ 459 Supplemental information and balance sheet location related to leases is as follows (in millions, except lease term and discount rate): March 31, 2019 Operating Leases: Operating lease right-of-use assets $ 2,543 Current maturities of operating leases $ 492 Non-current operating leases 2,093 Total operating lease liabilities $ 2,585 Finance Leases: Property, plant and equipment, at cost $ 2,569 Accumulated amortization 942 Property, plant and equipment, net $ 1,627 Current maturities of long-term debt, commercial paper and finance leases $ 138 Long-term debt and finance leases 387 Total finance lease liabilities $ 525 Weighted average remaining lease term (in years): Operating leases 9.1 Finance leases 9.4 Weighted average discount rate: Operating leases 2.74 % Finance leases 4.28 % Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 153 Operating cash flows from finance leases 2 Financing cash flows from finance leases 4 ROU assets obtained in exchange for lease liabilities: Operating leases $ 34 Maturities of lease liabilities as of March 31, 2019 are as follows (in millions): Finance Leases Operating Leases 2019 $ 150 $ 430 2020 93 498 2021 44 422 2022 38 350 2023 36 282 Thereafter 292 1,045 Total lease payments 653 3,027 Less: Imputed interest (128 ) (442 ) Total lease obligations 525 2,585 Less: Current obligations (138 ) (492 ) Long-term lease obligations $ 387 $ 2,093 As of March 31, 2019, we have additional leases which have not commenced. These leases will commence when we are granted access to the property, such as when leasehold improvements are completed by the lessor or a certificate of occupancy is obtained. These leases will commence in 2019 and 2020. Disclosures related to periods prior to adoption of the new lease standard The following table sets forth the aggregate minimum lease payments under capital and operating leases (in millions) as of December 31, 2018: Capital Leases Operating Leases 2019 $ 158 $ 578 2020 95 477 2021 42 399 2022 39 325 2023 36 262 After 2023 293 926 Total lease payments 663 2,967 Less: Imputed interest (129 ) Total lease obligations 534 Less: Current obligations (140 ) Long-term lease obligations $ 394

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	DEBT AND FINANCING ARRANGEMENTS The carrying value of our outstanding debt as of March 31, 2019 and December 31, 2018 consists of the following (in millions): Principal Amount Carrying Value Maturity 2019 2018 Commercial paper $ 1,644 2019-2020 $ 1,644 $ 2,662 Fixed-rate senior notes: 5.125% senior notes 1,000 2019 1,000 998 3.125% senior notes 1,500 2021 1,522 1,492 2.050% senior notes 700 2021 698 698 2.450% senior notes 1,000 2022 983 1,023 2.350% senior notes 600 2022 598 597 2.500% senior notes 1,000 2023 994 994 2.800% senior notes 500 2024 496 496 2.400% senior notes 500 2026 498 498 3.050% senior notes 1,000 2027 991 991 3.400% senior notes 750 2029 745 — 6.200% senior notes 1,500 2038 1,482 1,482 4.875% senior notes 500 2040 490 490 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 491 491 3.750% senior notes 1,150 2047 1,136 1,136 4.250% senior notes 750 2049 742 — Floating-rate senior notes: Floating-rate senior notes 350 2021 349 349 Floating-rate senior notes 400 2022 399 399 Floating-rate senior notes 500 2023 499 499 Floating-rate senior notes 1,041 2049-2067 1,028 1,029 8.375% Debentures: 8.375% debentures 424 2020 432 419 8.375% debentures 276 2030 281 274 Pound Sterling notes: 5.500% notes 87 2031 86 84 5.125% notes 595 2050 564 546 Euro senior notes: 0.375% notes 786 2023 782 797 1.625% notes 786 2025 782 798 1.000% notes 562 2028 558 570 1.500% notes 562 2032 558 569 Floating-rate senior notes 562 2020 561 572 Canadian senior notes: 2.125% notes 558 2024 555 548 Finance lease obligations 525 2019-3005 525 534 Facility notes and bonds 320 2029-2045 320 320 Other debt 9 2019-2022 9 13 Total debt $ 23,312 23,166 22,736 Less: Current maturities (2,789 ) (2,805 ) Long-term debt $ 20,377 $ 19,931 Commercial Paper We are authorized to borrow up to $ 10.0 billion under a U.S. commercial paper program and € 5.0 billion (in a variety of currencies) under a European commercial paper program. We had the following amounts outstanding under these programs as of March 31, 2019 : $ 1.119 billion with an average interest rate of 2.43% and € 468 million ($ 525 million) with an average interest rate of - 0.35% . As of March 31, 2019 , we have classified the entire commercial paper balance as a current liability on our consolidated balance sheets. Debt Classification We have classified certain floating-rate senior notes that are putable by the note holders as long-term debt, due to our intent and ability to refinance the debt if the put option is exercised by the note holders. Debt Issuance On March 13, 2019 we issued two series of notes, both in the principal amounts of $ 750 million . These fixed rate notes bear interest at the rates of 3.400% and 4.250% and will mature on March 15, 2029 and March 15, 2049, respectively. Interest on the fixed-rate senior notes is payable semi-annually, beginning September 2019. The 3.400% fixed-rate senior notes are callable at our option at a redemption price equal to the greater of 100% of the principal amount, or the sum of the present values of remaining scheduled payments of principal and interest thereon discounted to the redemption date (three months prior to maturity) on a semi-annual basis at the discount rate of the Treasury Rate plus 15 basis points and accrued and unpaid interest. The 4.250% fixed-rate senior notes are callable at our option at a redemption price equal to the greater of 100% of the principal amount, or the sum of the present values of remaining scheduled payments of principal and interest thereon discounted to the redemption date (six months prior to maturity) on a semi-annual basis at the discount rate of the Treasury Rate plus 20 basis points and accrued and unpaid interest. Sources of Credit We maintain two credit agreements with a consortium of banks. One of these agreements provided revolving credit facilities of $3.0 billion as of March 31, 2019, and expires on December 10, 2019 . On April 4, 2019, we elected to reduce this 364 day revolving credit facility by $ 1.5 billion. Generally, amounts outstanding under this facility bear interest at a periodic fixed rate equal to LIBOR for the applicable interest period and currency denomination, plus an applicable margin. Alternatively, a fluctuating rate of interest equal to the highest of (1) JPMorgan Chase Bank’s publicly announced prime rate; (2) the Federal Funds effective rate plus 0.50% ; and (3) LIBOR for a one month interest period plus 1.00% , plus an applicable margin, may be used at our discretion. In each case, the applicable margin for advances bearing interest based on LIBOR is a percentage determined by quotations from Markit Group Ltd. for our 1-year credit default swap spread, subject to a minimum rate of 0.10% and a maximum rate of 0.75% . The applicable margin for advances bearing interest based on the prime rate is 1.00% below the applicable margin for LIBOR advances (but not lower than 0.00% ). We are also able to request advances under this facility based on competitive bids for the applicable interest rate. There were no amounts outstanding under this facility as of March 31, 2019 . The second agreement provides revolving credit facilities of $ 3.0 billion, and expires on December 11, 2023 . Generally, amounts outstanding under this facility bear interest at a periodic fixed rate equal to LIBOR for the applicable interest period and currency denomination, plus an applicable margin. Alternatively, a fluctuating rate of interest equal to the highest of (1) JPMorgan Chase Bank’s publicly announced prime rate; (2) the Federal Funds effective rate plus 0.50% ; and (3) LIBOR for a one month interest period plus 1.00% , plus an applicable margin, may be used at our discretion. In each case, the applicable margin for advances bearing interest based on LIBOR is a percentage determined by quotations from Markit Group Ltd. for our 1-year credit default swap spread, interpolated for a period from the date of determination of such credit default swap spread in connection with a new interest period until the latest maturity date of this facility then in effect (but not less than a period of one year). The minimum applicable margin rate is 0.10% and the maximum applicable margin rate is 0.75% per annum. The applicable margin for advances bearing interest based on the prime rate is 1.00% below the applicable margin for LIBOR advances (but not less than 0.00% ). We are also able to request advances under this facility based on competitive bids. There were no amounts outstanding under this facility as of March 31, 2019 . Debt Covenants Our existing debt instruments and credit facilities subject us to certain financial covenants. As of March 31, 2019 and for all periods presented, we were in compliance with all applicable financial covenants. These covenants limit the amount of secured indebtedness that we may incur, and limit the amount of attributable debt in sale-leaseback transactions, to 10% of net tangible assets. As of March 31, 2019 , 10% of net tangible assets was equivalent to $3.295 billion; however, we have no covered sale-leaseback transactions or secured indebtedness outstanding. We do not expect these covenants to have a material impact on our financial condition or liquidity. Fair Value of Debt Based on the borrowing rates currently available to us for debt with similar terms and maturities, the fair value of long-term debt, including current maturities, was approximately $ 24.102 and $ 23.293 billion as of March 31, 2019 and December 31, 2018

LEGAL PROCEEDINGS AND CONTINGEN

LEGAL PROCEEDINGS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS AND CONTINGENCIES	LEGAL PROCEEDINGS AND CONTINGENCIES We are involved in a number of judicial proceedings and other matters arising from the conduct of our business activities. Although there can be no assurance as to the ultimate outcome, we have generally denied, or believe we have a meritorious defense and will deny, liability in all pending matters, including (except as otherwise noted herein) the matters described below, and we intend to defend vigorously each matter. We accrue for legal claims when, and to the extent that, amounts associated with the claims become probable and can be reasonably estimated. The actual costs of resolving legal claims may be substantially higher or lower than the amounts accrued for those claims. For those matters as to which we are not able to estimate a possible loss or range of loss, we are not able to determine whether the loss will have a material adverse effect on our business, financial condition or results of operations or liquidity. For matters in this category, we have indicated in the descriptions that follow the reasons that we are unable to estimate the possible loss or range of loss. Judicial Proceedings In February 2015, the State and City of New York filed suit against UPS in the U.S. District Court for the Southern District of New York, arising from alleged shipments of cigarettes to New York State and City residents. The complaint asserted claims under various federal and state laws. The complaint also included a claim that UPS violated the Assurance of Discontinuance it entered into with the New York Attorney General in 2005 concerning cigarette deliveries. On March 24, 2017, the District Court issued an opinion and order finding liability against UPS on each of the plaintiffs’ causes of action. On May 25, 2017, the District Court issued a corrected opinion and order on liability and an order awarding the plaintiffs damages of $ 9.4 million and penalties of $ 237.6 million. An accrual of $ 9.4 million with respect to the damages awarded by the court is included on our consolidated balance sheets at March 31, 2019 . We estimate that the amount of losses could be up to $ 247 million, plus interest; however, the amount of penalties ultimately payable, if any, is subject to a variety of complex factors and potential outcomes that remain to be determined in future legal proceedings. Consequently, we are unable to reasonably estimate a likely amount of loss within that range. We strongly disagree with the District Court's analysis and conclusions, and have appealed to the United States Court of Appeals for the Second Circuit. The briefing and oral argument are now complete. We await a ruling by the Court of Appeals. We are a defendant in a number of lawsuits filed in state and federal courts containing various class action allegations under state wage-and-hour laws. Except as described below, we do not believe that any loss associated with any matter would have a material adverse effect on our financial condition, results of operations or liquidity. Hughes v. UPS Supply Chain Solutions, Inc. and United Parcel Service, Inc. has been certified as a class action in Kentucky state court. In this action, Plaintiffs allege that they were not properly compensated for time entering and exiting security checkpoints and getting to their work areas at UPS’s facilities. Plaintiffs seek compensatory damages, liquidated damages, attorneys’ fees, and interest. We have denied any liability and intend to vigorously defend ourselves in this case. There are multiple factors that prevent us from being able to estimate the amount of loss, if any, that may result from this matter, including: (1) we are vigorously defending ourselves and believe that we have a number of meritorious legal defenses; and (2) there are unresolved questions of law and fact that could be important to the ultimate resolution of this matter. Accordingly, at this time, we are not able to estimate a possible loss or range of loss that may result from this matter or to determine whether such loss, if any, would have a material adverse effect on our financial condition, results of operations or liquidity. Other Matters In October 2015, the Department of Justice ("DOJ") informed us of an industry-wide inquiry into the transportation of mail under the United States Postal Service ("USPS") International Commercial Air contracts. In October 2017, we received a Civil Investigative Demand seeking certain information relating to our contracts. The DOJ has indicated it is investigating potential violations of the False Claims Act or other statutes. We are cooperating with the DOJ. We are unable to predict what action, if any, might be taken in the future by any government authorities as a result of their investigation. Accordingly, at this time, we are not able to estimate a possible loss or range of loss that may result from this matter or to determine whether such loss, if any, would have a material adverse effect on our financial condition, results of operations or liquidity. In August 2016, Spain’s National Markets and Competition Commission (“CNMC”) announced an investigation into 10 companies in the commercial delivery and parcel industry, including UPS, related to alleged nonaggression agreements to allocate customers. In May 2017, UPS received a Statement of Objections issued by the CNMC. In July 2017, UPS received a Proposed Decision from the CNMC. On March 8, 2018, the CNMC adopted a final decision, finding an infringement and imposing a fine on UPS of € 19.2 million. UPS has appealed the decision and in September 2018, obtained a suspension of the implementation of the decision (including payment of the fine). The appeal is pending. There are multiple factors that prevent us from being able to estimate the amount of loss, if any, that may result from this matter including: (1) we are vigorously defending ourselves and believe that we have a number of meritorious legal defenses; and (2) there are unresolved questions of law and fact that could be important to the ultimate resolution of this matter. Accordingly, at this time we are not able to estimate a possible loss or range of loss that may result from this matter or to determine whether such loss, if any, would have a material adverse effect on our financial condition, results of operations or liquidity. In February 2018 the Turkish Competition Authority (“Authority”) opened an investigation into nine companies (including UPS) in the small package industry related to alleged customer allocations in violation of Turkish competition law. In April 2018, the Authority consolidated this investigation with two other investigations involving similar allegations. The consolidated investigation involves over 30 companies. The investigation is in its early stages. There are multiple factors that prevented us from being able to estimate the amount of loss, if any, that may result from this matter including: (1) we are vigorously defending ourselves and believe that we have a number of meritorious legal defenses; and (2) there are unresolved questions of law and fact that could be important to the ultimate resolution of this matter. Accordingly, at this time we are not able to estimate a possible loss or range of loss that may result from this matter or to determine whether such loss, if any, would have a material adverse effect on our financial condition, results of operation or liquidity.

SHAREOWNERS' EQUITY

SHAREOWNERS' EQUITY	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
SHAREOWNERS' EQUITY	SHAREOWNERS' EQUITY Capital Stock, Additional Paid-In Capital and Retained Earnings We maintain two classes of common stock, which are distinguished from each other primarily by their respective voting rights. Class A shares are entitled to 10 votes per share, whereas class B shares are entitled to one vote per share. Class A shares are primarily held by UPS employees and retirees, and these shares are fully convertible on a one-to-one basis into class B shares at any time. Class B shares are publicly traded on the New York Stock Exchange under the symbol “UPS”. Class A and B shares both have a $0.01 par value, and as of March 31, 2019 , there were 4.6 billion class A shares and 5.6 billion class B shares authorized to be issued. Additionally, there are 200 million preferred shares, with a $0.01 par value, authorized to be issued. As of March 31, 2019 , no preferred shares had been issued. The following is a rollforward of our common stock, additional paid-in capital, retained earnings and non-controlling minority interest accounts for the three months ended March 31, 2019 and 2018 (in millions, except per share amounts): 2019 2018 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 163 $ 2 173 $ 2 Common stock purchases (1 ) — (1 ) — Stock award plans 3 — 3 — Common stock issuances 2 — 2 — Conversions of class A to class B common stock (3 ) — (3 ) — Class A shares issued at end of period 164 $ 2 174 $ 2 Class B Common Stock Balance at beginning of period 696 $ 7 687 $ 7 Common stock purchases (2 ) — (1 ) — Conversions of class A to class B common stock 3 — 3 — Class B shares issued at end of period 697 $ 7 689 $ 7 Additional Paid-In Capital Balance at beginning of period $ — $ — Stock award plans 169 20 Common stock purchases (251 ) (136 ) Common stock issuances 114 155 Option premiums received (paid) (5 ) (39 ) Balance at end of period $ 27 $ — Retained Earnings Balance at beginning of period $ 8,006 $ 5,852 Net income attributable to common shareowners 1,111 1,345 Dividends ($0.96 and $0.91 per share) (1) (867 ) (840 ) Common stock purchases — (119 ) Reclassification from AOCI pursuant to the early adoption of ASU 2018-02 — 735 Other (1 ) — Balance at end of period $ 8,249 $ 6,973 Non-Controlling Minority Interest Balance at beginning of period $ 16 $ 30 Change in non-controlling minority interest 2 1 Balance at end of period $ 18 $ 31 (1) The dividend per share amount is the same for both class A and class B common stock We repurchased 2.4 million shares of class A and class B common stock for $251 million during the three months ended March 31, 2019 , and 2.2 million shares for $255 million during the three months ended March 31, 2018 . In May 2016, the Board of Directors approved a share repurchase authorization of $8.0 billion, which has no expiration date. As of March 31, 2019 , we had $3.088 billion of this share repurchase authorization available. From time to time, we enter into share repurchase programs with large financial institutions to assist in our buyback of company stock. These programs allow us to repurchase our shares at a price below the weighted average UPS share price for a given period. During the first quarter of 2019, we did not enter into any accelerated share repurchase transactions. In order to lower the average cost of acquiring shares in our ongoing share repurchase program, we periodically enter into structured repurchase agreements involving the use of capped call options for the purchase of UPS class B shares. We pay a fixed sum of cash upon execution of each agreement in exchange for the right to receive either a pre-determined amount of cash or stock. Upon expiration of each agreement, if the closing market price of our common stock is above the pre-determined price, we will have our initial investment returned with a premium in either cash or shares (at our election). If the closing market price of our common stock is at or below the pre-determined price, we will receive the number of shares specified in the agreement. We paid net premiums of $5 million during the first three months of 2019 and $39 million during the first three months of 2018 , related to entering into and settling capped call options for the purchase of class B shares. As of March 31, 2019 , we had outstanding options for the purchase of 0.3 million shares with a weighted average strike price of $95.95 per share that will settle during 2019. Accumulated Other Comprehensive Income (Loss) We recognize activity in AOCI for unrealized holding gains and losses on available-for-sale securities, foreign currency translation adjustments, unrealized gains and losses from derivatives that qualify as hedges of cash flows and unrecognized pension and postretirement benefit costs. Additionally, effective January 1, 2018, we early adopted an ASU that allowed a reclassification from AOCI to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the "Tax Act"). The activity in AOCI for the three months ended March 31, 2019 and 2018 is as follows (in millions): 2019 2018 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (1,126 ) $ (930 ) Translation adjustment (net of tax effect of $9 and $(9)) 53 (6 ) Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (47 ) Balance at end of period (1,073 ) (983 ) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period (2 ) (2 ) Current period changes in fair value (net of tax effect of $0 and $(1)) 4 (4 ) Reclassification to earnings (net of tax effect of $0 and $1) — 1 Balance at end of period 2 (5 ) Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period 40 (366 ) Current period changes in fair value (net of tax effect of $28 and $(33)) 89 (102 ) Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (79 ) Reclassification to earnings (net of tax effect of $(4) and $12) (13 ) 36 Balance at end of period 116 (511 ) Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (3,906 ) (3,569 ) Reclassification to earnings (net of tax effect of $13 and $12) 43 39 Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (609 ) Balance at end of period (3,863 ) (4,139 ) Accumulated other comprehensive income (loss) at end of period $ (4,818 ) $ (5,638 ) Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2019 and 2018 is as follows (in millions): Three Months Ended March 31: Amount Reclassified from AOCI Affected Line Item in the Income Statement 2019 2018 Unrealized gain (loss) on marketable securities: Realized loss on sale of securities $ — $ (2 ) Investment income and other Income tax (expense) benefit — 1 Income tax expense Impact on net income — (1 ) Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (6 ) (6 ) Interest expense Foreign exchange contracts 23 (42 ) Revenue Income tax (expense) benefit (4 ) 12 Income tax expense Impact on net income 13 (36 ) Net income Unrecognized pension and postretirement benefit costs: Prior service costs (56 ) (51 ) Investment income and other Income tax (expense) benefit 13 12 Income tax expense Impact on net income (43 ) (39 ) Net income Total amount reclassified for the period $ (30 ) $ (76 ) Net income Deferred Compensation Obligations and Treasury Stock Activity in the deferred compensation program for the three months ended March 31, 2019 and 2018 is as follows (in millions): 2019 2018 Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 32 $ 37 Reinvested dividends 1 1 Benefit payments (8 ) (7 ) Balance at end of period $ 25 $ 31 Treasury Stock: Balance at beginning of period (1 ) $ (32 ) (1 ) $ (37 ) Reinvested dividends — (1 ) — (1 ) Benefit payments — 8 — 7 Balance at end of period (1 ) $ (25 ) (1 ) $ (31 )

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We report our operations in three segments: U.S. Domestic Package operations, International Package operations and Supply Chain & Freight operations. Package operations represent our most significant business and are broken down into regional operations around the world. Regional operations managers are responsible for both domestic and export products within their geographic area. U.S. Domestic Package Domestic Package operations include the time-definite delivery of letters, documents and packages throughout the United States. International Package International Package operations include delivery to more than 220 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or destination outside the United States. Our International Package reporting segment includes the operations of our Europe, Asia, Americas and ISMEA (Indian Subcontinent, Middle East and Africa) operating segments. Supply Chain & Freight Supply Chain & Freight includes our Forwarding, Logistics, Coyote, Marken, UPS Mail Innovations, UPS Freight and other aggregated business units. Our Forwarding, Logistics and UPS Mail Innovations business units provide services in more than 200 countries and territories worldwide and include international air and ocean freight forwarding, customs brokerage, distribution and post-sales services, mail and consulting services. UPS Freight offers a variety of less-than-truckload ("LTL") and truckload ("TL") services to customers in North America. Coyote offers truckload brokerage services primarily in the United States. Marken is a global provider of supply chain solutions to the life sciences industry. Other aggregated business units within this segment include The UPS Store and UPS Capital. In evaluating financial performance, we focus on operating profit as a segment’s measure of profit or loss. Operating profit is before investment income and other, interest expense and income taxes. The accounting policies of the reportable segments are the same as those described in the summary of accounting policies included in the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018 . Certain expenses are allocated between the segments using activity-based costing methods. Segment information for the three months ended March 31, 2019 and 2018 is as follows (in millions): Three Months Ended 2019 2018 Revenue: U.S. Domestic Package $ 10,480 $ 10,227 International Package 3,459 3,533 Supply Chain & Freight 3,221 3,353 Consolidated $ 17,160 $ 17,113 Operating Profit: U.S. Domestic Package $ 666 $ 756 International Package 528 594 Supply Chain & Freight 200 170 Consolidated $ 1,394 $ 1,520

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation. The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2019 and 2018 (in millions, except per share amounts): Three Months Ended 2019 2018 Numerator: Net income attributable to common shareowners $ 1,111 $ 1,345 Denominator: Weighted average shares 860 861 Deferred compensation obligations 1 1 Vested portion of restricted units 5 4 Denominator for basic earnings per share 866 866 Effect of dilutive securities: Restricted units 3 4 Stock options — — Denominator for diluted earnings per share 869 870 Basic earnings per share $ 1.28 $ 1.55 Diluted earnings per share $ 1.28 $ 1.55 There were 0.9 million and 0.3 million antidilutive shares for the three months ended March 31, 2019 and 2018 , respectively. Diluted earnings per share for the three months ended March 31, 2019 and 2018 excluded the effect of 0.1 million and 0.3

DERIVATIVE INSTRUMENTS AND RISK

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT	DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT Risk Management Policies Changes in fuel prices, interest rates and foreign currency exchange rates impact our results of operations. These exposures are actively monitored by management. To manage the impact of these exposures, we enter into a variety of derivative financial instruments. Our objective is to manage, where it is deemed appropriate to do so, fluctuations in earnings and cash flows associated with changes in foreign currency rates, commodity prices and interest rates. It is our policy and practice to use derivative financial instruments only to the extent necessary to manage exposures. As we use price sensitive instruments to hedge a certain portion of our existing and anticipated transactions, we expect that any loss in value from those instruments generally would be offset by increases in the value of those hedged transactions. We do not hold or issue derivative financial instruments for trading or speculative purposes. Credit Risk Management The forward contracts, swaps and options discussed below contain an element of risk that the counterparties may be unable to meet the terms of the agreements; however, we seek to minimize such risk exposures for these instruments by limiting the counterparties to banks and financial institutions that meet established credit guidelines, and by monitoring counterparty credit risk to prevent concentrations of credit risk with any single counterparty. We have agreements with all of our active counterparties (covering the majority of our derivative positions) containing early termination rights and/or zero threshold bilateral collateral provisions whereby cash is required based on the net fair value of derivatives associated with those counterparties. At March 31, 2019 and December 31, 2018 , we held cash collateral of $ 383 and $ 325 million, respectively, under these agreements; this collateral is included in "Cash and cash equivalents" in the consolidated balance sheets and its use by UPS is not restricted. At March 31, 2019 and December 31, 2018 , $1 and $0 million , respectively, of additional collateral was required to be posted with our counterparties. Events such as a counterparty credit rating downgrade (depending on the ultimate rating level) could also allow us to take additional protective measures such as the early termination of trades. Alternatively, we could be required to provide additional collateral or terminate transactions with certain counterparties in the event of a downgrade of our credit rating. The amount of collateral required would be determined by the net fair value of the associated derivatives with each counterparty. We have not historically incurred, and do not expect to incur in the future, any losses as a result of counterparty default. The aggregate fair value of instruments not covered by the zero threshold bilateral collateral provisions were in a net liability position of $0 million at March 31, 2019 and December 31, 2018 . Accounting Policy for Derivative Instruments We recognize all derivative instruments as assets or liabilities in the consolidated balance sheets at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the derivative, based upon the exposure being hedged, as a cash flow hedge, a fair value hedge or a hedge of a net investment in a foreign operation. A cash flow hedge refers to hedging the exposure to variability in expected future cash flows that is attributable to a particular risk. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of AOCI, and reclassified into earnings in the same period during which the hedged transaction affects earnings. A fair value hedge refers to hedging the exposure to changes in the fair value of an existing asset or liability in the consolidated balance sheets that is attributable to a particular risk. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative instrument is recognized in the statements of consolidated income during the current period, as well as the offsetting gain or loss on the hedged item. A net investment hedge refers to the use of cross currency swaps, forward contracts or foreign currency denominated debt to hedge portions of our net investments in foreign operations. For hedges that meet the hedge accounting requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in the foreign currency translation adjustment within AOCI, and are recorded in the income statement when the hedged item affects earnings. Types of Hedges Commodity Risk Management Currently, the fuel surcharges that we apply to our domestic and international package and LTL services are the primary means of reducing the risk of adverse fuel price changes on our business. In order to mitigate the impact of fuel surcharges imposed on us by outside carriers, we regularly adjust the rates we charge for our freight brokerage, inter-modal and truckload services. We periodically enter into derivative contracts on energy commodity products to manage the price risk associated with forecasted transactions involving refined fuels, principally jet-A, diesel and unleaded gasoline. The objective of the hedges is to reduce the variability of cash flows, due to changing fuel prices, associated with the forecasted transactions involving those products. We normally designate and account for these contracts as cash flow hedges of the underlying forecasted transactions involving these fuel products and, therefore, the resulting gains and losses from these hedges are recognized as a component of fuel expense or revenue when the underlying transactions occur. Foreign Currency Risk Management To protect against the reduction in value of forecasted foreign currency cash flows from our international package business, we maintain a foreign currency cash flow hedging program. Our most significant foreign currency exposures relate to the Euro, British Pound Sterling, Canadian Dollar, Chinese Renminbi and Hong Kong Dollar. We hedge portions of our forecasted revenue denominated in foreign currencies with option and forward contracts. We normally designate and account for these contracts as cash flow hedges of anticipated foreign currency denominated revenue and, therefore, the resulting gains and losses from these hedges are recognized as a component of international package revenue when the underlying sales transactions occur. We also hedge portions of our anticipated cash settlements of intercompany transactions and interest payments on certain debt subject to foreign currency remeasurement using foreign currency forward contracts. We normally designate and account for these contracts as cash flow hedges of forecasted foreign currency denominated transactions; therefore, the resulting gains and losses from these hedges are recognized as a component of investment income and other when the underlying transactions are subject to currency remeasurement. We hedge our net investment in certain foreign operations with foreign currency denominated debt instruments. The use of foreign denominated debt as the hedging instrument allows the debt to be remeasured to foreign currency translation adjustment within AOCI to offset the translation risk from those investments. Balances in the cumulative translation adjustment accounts remain until the sale or complete liquidation of the foreign entity, upon which they are recognized as a component of investment income and other. Interest Rate Risk Management Our indebtedness under our various financing arrangements creates interest rate risk. We use a combination of derivative instruments as part of our program to manage the fixed and floating interest rate mix of our total debt portfolio and related overall cost of borrowing. The notional amount, interest payment date and maturity date of the swaps match the terms of the associated debt being hedged. Interest rate swaps allow us to maintain a target range of floating-rate debt within our capital structure. We have designated and account for the majority of our interest rate swaps that convert fixed-rate interest payments into floating-rate interest payments as hedges of the fair value of the associated debt instruments. Therefore, the gains and losses resulting from fair value adjustments to the interest rate swaps and fair value adjustments to the associated debt instruments are recorded to interest expense in the period in which the gains and losses occur. We have designated and account for interest rate swaps that convert floating-rate interest payments into fixed-rate interest payments as cash flow hedges of the forecasted payment obligations. The gains and losses resulting from fair value adjustments to the interest rate swaps are recorded to AOCI. We periodically hedge the forecasted fixed-coupon interest payments associated with anticipated debt offerings by using forward starting interest rate swaps, interest rate locks or similar derivatives. These agreements effectively lock a portion of our interest rate exposure between the time the agreement is entered into and the date when the debt offering is completed, thereby mitigating the impact of interest rate changes on future interest expense. These derivatives are settled commensurate with the issuance of the debt, and any gain or loss upon settlement is amortized as an adjustment to the effective interest yield on the debt. Outstanding Positions As of March 31, 2019 and December 31, 2018 , the notional amounts of our outstanding derivative positions were as follows (in millions): March 31, 2019 December 31, 2018 Currency hedges: Euro EUR 4,784 EUR 4,924 British Pound Sterling GBP 1,905 GBP 2,037 Canadian Dollar CAD 1,455 CAD 1,443 Hong Kong Dollar HKD 3,707 HKD 3,642 Singapore Dollar SGD — SGD 20 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 4,674 USD 4,674 Floating to Fixed Interest Rate Swaps USD 778 USD 778 As of March 31, 2019 and December 31, 2018 , we had no outstanding commodity hedge positions. Balance Sheet Recognition and Fair Value Measurements The following table indicates the location in the consolidated balance sheets where our derivative assets and liabilities have been recognized, the fair value hierarchy level applicable to each derivative type and the related fair values of those derivatives (in millions). The table is segregated between those derivative instruments that qualify and are designated as hedging instruments and those that are not, as well as by type of contract and whether the derivative is in an asset or liability position. We have master netting arrangements with substantially all of our counterparties giving us the right of offset for our derivative positions. However, we have not elected to offset the fair value positions of our derivative contracts recorded in the consolidated balance sheets. The columns labeled "Net Amounts if Right of Offset had been Applied" indicate the potential net fair value positions by type of contract and location in the consolidated balance sheets had we elected to apply the right of offset. Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Asset Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign exchange contracts Other current assets Level 2 $ 122 $ 90 $ 117 $ 83 Interest rate contracts Other current assets Level 2 — 1 — 1 Foreign exchange contracts Other non-current assets Level 2 277 230 270 215 Interest rate contracts Other non-current assets Level 2 16 14 10 6 Derivatives not designated as hedges: Foreign exchange contracts Other current assets Level 2 2 7 1 5 Foreign exchange contracts Other non-current assets Level 2 — 1 — 1 Interest rate contracts Other non-current assets Level 2 16 18 16 18 Total Asset Derivatives $ 433 $ 361 $ 414 $ 329 Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Liability Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign exchange contracts Other current liabilities Level 2 $ 5 $ 7 $ — $ — Foreign exchange contracts Other non-current liabilities Level 2 7 15 — — Interest rate contracts Other non-current liabilities Level 2 26 41 20 33 Derivatives not designated as hedges: Foreign exchange contracts Other current liabilities Level 2 1 3 — 1 Foreign exchange contracts Other non-current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 39 $ 67 $ 20 $ 35 Our foreign exchange, interest rate and investment market price derivatives are largely comprised of over-the-counter derivatives, which are primarily valued using pricing models that rely on market observable inputs such as yield curves, currency exchange rates and investment forward prices; therefore, these derivatives are classified as Level 2. Balance Sheet Location of Hedged Item in Fair Value Hedges The following table indicates the amounts that were recorded in the consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of March 31, 2019 and December 31, 2018 (in millions). Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included March 31, 2019 March 31, 2019 December 31, 2018 December 31, 2018 Current maturities of long-term debt, commercial paper and finance leases $ 1,000 $ — $ — $ — Long-term debt and finance leases 3,218 27 4,207 16 The cumulative amount of fair value hedging losses remaining for any hedged assets and liabilities for which hedge accounting has been discontinued as of March 31 , 2019 is $ 27 million. These amounts will be recognized over the next 12 years. Income Statement and AOCI Recognition The following table indicates the amount of gains and losses that have been recognized in the income statement for the fair value and cash flow hedges, as well as the associated gain or (loss) for the underlying hedged item for fair value hedges for the three months ended March 31, 2019 and 2018 (in millions): March 31, 2019 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ (15 ) $ — Derivatives designated as hedging instruments — 15 — Gains or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (6 ) — Foreign Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income 23 — — Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded $ 23 $ (6 ) $ — March 31, 2018 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 54 $ — Derivatives designated as hedging instruments — (54 ) — Gains or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (6 ) — Foreign Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income (42 ) — — Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded $ (42 ) $ (6 ) $ — The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the three months ended March 31, 2019 and 2018 for those derivatives designated as cash flow hedges (in millions): Three Months Ended March 31: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivative 2019 2018 Interest rate contracts $ 13 $ 1 Foreign exchange contracts 104 (136 ) Total $ 117 $ (135 ) As of March 31, 2019 , there are $ 132 million of pre-tax gains related to cash flow hedges that are currently deferred in AOCI that are expected to be reclassified to income over the 12 month period ending March 31, 2020 . The actual amounts that will be reclassified to income over the next 12 months will vary from this amount as a result of changes in market conditions. The maximum term over which we are hedging exposures to the variability of cash flows is approximately 14 years. The following table indicates the amount of gains and losses that have been recognized in AOCI within foreign currency translation adjustment for the three months ended March 31, 2019 and 2018 for those instruments designated as net investment hedges (in millions): Three Months Ended March 31: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2019 2018 Foreign denominated debt $ 73 $ (80 ) Total $ 73 $ (80 ) Additionally, we maintain some interest rate swaps, foreign exchange forwards and investment market price forward contracts that are not designated as hedges. These interest rate swap contracts are intended to provide an economic hedge of portions of our outstanding debt. The foreign exchange forward contracts are intended to provide an economic offset to foreign currency remeasurement and settlement risk for certain assets and liabilities on our consolidated balance sheets. These investment market price forward contracts are intended to provide an economic offset to fair value fluctuations of certain investments in marketable securities. We also periodically terminate interest rate swaps and foreign exchange options by entering into offsetting swap and foreign currency positions with different counterparties. As part of this process, we de-designate our original swap and foreign exchange contracts. These transactions provide an economic offset that effectively eliminates the effects of changes in market valuation. The following is a summary of the amounts recorded in the statements of consolidated income related to fair value changes and settlements of these interest rate swaps, foreign currency forward and investment market price forward contracts not designated as hedges for the three months ended March 31, 2019 and 2018 (in millions): Derivative Instruments Not Designated in Hedging Relationships Location of Gain (Loss) Recognized in Income Amount of Gain (Loss) Recognized in Income 2019 2018 Three Months Ended March 31: Interest rate contracts Interest expense $ (2 ) $ (2 ) Foreign exchange contracts Investment income and other (1 ) 8 Investment market price contracts Investment income and other — 16 Total $ (3 ) $ 22

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate for the three months ended March 31, 2019 was approximately 22.8% compared with 19.0% in the same period of 2018. The recognition of excess tax benefits related to share-based compensation in income tax expense reduced our effective tax rate by 0.4% for the three months ended March 31, 2019 compared to 2.7% in the same period of 2018. Other favorable items that impacted our effective tax rate in the first quarter of 2018, but did not recur in 2019, included favorable resolutions of uncertain tax positions and favorable tax provisions enacted in the Bipartisan Budget Act of 2018. As discussed in our Annual Report on Form 10-K for the year ended December 31, 2018 , we have recognized liabilities for uncertain tax positions. We reevaluate these uncertain tax positions on a quarterly basis. A number of years may elapse before an uncertain tax position is audited and ultimately settled. It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions. It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. However, an estimate of the range of reasonably possible outcomes cannot be made. Items that may cause changes to unrecognized tax benefits include the timing of interest deductions and the allocation of income and expense between tax jurisdictions. These changes could result from the settlement of ongoing litigation, the completion of ongoing examinations, the expiration of the statutes of limitations, additional regulatory guidance on the Tax Act or other unforeseen circumstances. As discussed in note 17, we recognized pre-tax transformation strategy costs of $ 123 million in the first quarter of 2019. As a result, we recorded an additional income tax benefit of $ 30
Transformation cost	$ 123,000,000

TRANSFORMATION STRATEGY (Notes)

TRANSFORMATION STRATEGY (Notes)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
TRANSFORMATION STRATEGY	TRANSFORMATION STRATEGY In the first quarter of 2018, we launched the first phase of a multi-year, enterprise-wide transformation strategy that is expected to impact our organization. Over the next few years additional phases will be implemented. The program includes investments impacting global direct and indirect operating costs, as well as changes in processes and technology. During the quarter ended March 31, 2019, we recorded a pre-tax charge of $ 123 million that reflects costs and other employee benefits of $ 106 million for the quarter included within "Compensation and benefits" on the statements of consolidated income, and other costs of $ 17 million recorded to total other expenses. The after-tax transformation strategy costs totaled $ 93 million in the first quarter of 2019. The income tax effects of the transformation strategy costs are calculated by multiplying the amount of the adjustments by the statutory tax rates applicable in each tax jurisdiction. There were no comparable costs for the first three months of 2018.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation In our opinion, the accompanying interim, unaudited, consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. These consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly our financial position as of March 31, 2019 , our results of operations for the three months ended March 31, 2019 and 2018 , and cash flows for the three months ended March 31, 2019 and 2018 . The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for any other period or the entire year. The interim, unaudited, consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, accounts receivable, finance receivables and accounts payable approximate fair value as of March 31, 2019 and December 31, 2018. The fair values of our investment securities are disclosed in note 5 , our recognized multiemployer pension withdrawal liabilities in note 7 , our short and long-term debt in note 9 and our derivative instruments in note 15
Accounting Estimates	Estimates The preparation of the accompanying interim, unaudited, consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best information and actual results could differ materially from those estimates.
Change in Accounting Methodology	Use of Estimates The preparation of the accompanying interim, unaudited, consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best information and actual results could differ materially from those estimates.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") 2016-02, Leases (Topic 842) , which requires lessees to recognize a right-of-use asset and lease liability on their balance sheet for all leases with terms beyond twelve months. The new standard also requires enhanced disclosures that provide more transparency and information to financial statement users about lease portfolios. Effective January 1, 2019, we adopted the requirements of this ASU using the modified retrospective approach. The adoption on January 1, 2019 resulted in the recognition of right-of-use assets for operating leases of approximately $2.65 billion and operating lease liabilities of approximately $2.70 billion . The consolidated financial statements for the period ended March 31, 2019 are presented under the new standard, while comparative periods presented have not been adjusted and continue to be reported in accordance with the previous standard. We elected the transition package of practical expedients permitted within the standard. In accordance with the package of practical expedients, we did not reassess initial direct costs, lease classification, or whether our contracts contain or are leases. We also made an accounting policy election to not recognize right-of-use assets and liabilities for leases with an original lease term of twelve months or less, unless the leases include options to renew or purchase the underlying asset that are reasonably certain to be exercised. See note 10 for additional disclosures required by this ASU. In March 2017, the FASB issued an ASU requiring the premium on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount is not impacted by the update. We adopted this standard on January 1, 2019. This standard did not have a material impact on our consolidated financial position, results of operations or cash flows. In August 2017, the FASB issued an ASU to enhance recognition of the economic results of hedging activities in the financial statements. In addition, this update makes certain targeted improvements to simplify the application of hedge accounting guidance and increase transparency regarding the scope and results of hedging activities. We adopted this standard on January 1, 2019. This standard did not have a material impact on our consolidated financial position, results of operations or cash flows but did require additional disclosures. See note 15 for required disclosures pertaining to this ASU. For accounting standards adopted in the period ended March 31, 2018, refer to note 1 to our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2018 . Other accounting pronouncements adopted during the periods covered by the consolidated financial statements did not have a material impact on our consolidated financial position, results of operations or cash flows. Accounting Standards Issued But Not Yet Effective In January 2017, the FASB issued an ASU to simplify the accounting for goodwill impairment. The update removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Under this ASU, a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The standard will be effective for us in the first quarter of 2020, but early adoption is permitted. We continue to evaluate this update to determine the full impact of its adoption but do not expect this ASU to have a material impact on our consolidated financial position, results of operations or cash flows. Other accounting pronouncements issued, but not effective until after March 31, 2019

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue Three Months Ended 2019 2018 Revenue: Next Day Air $ 1,841 $ 1,784 Deferred 1,089 1,069 Ground 7,550 7,374 U.S. Domestic Package 10,480 10,227 Domestic 690 716 Export 2,631 2,672 Cargo & Other 138 145 International Package 3,459 3,533 Forwarding 1,416 1,605 Logistics 832 782 Freight 773 777 Other 200 189 Supply Chain & Freight 3,221 3,353 Consolidated revenue $ 17,160 $ 17,113

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions	The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the calculated weighted-average fair values of options granted in 2019 and 2018 are as follows: 2019 2018 Expected dividend yield 2.93 % 2.93 % Risk-free interest rate 2.60 % 2.84 % Expected life (in years) 7.5 7.5 Expected volatility 17.79 % 16.72 % Weighted-average fair value of options granted $ 16.39 $ 15.23 2019 and 2018 are as follows: 2019 2018 Risk-free interest rate 2.24 % 2.61 % Expected volatility 19.61 % 16.51 % Weighted-average fair value of units granted $ 123.40 $ 137.57 Share payout 114.95 % 123.47 %

INVESTMENTS AND RESTRICTED CA_2

INVESTMENTS AND RESTRICTED CASH (Tables)	3 Months Ended
	Mar. 31, 2019
Marketable Securities [Abstract]
Available-for-sale Securities	The following is a summary of marketable securities classified as trading and available-for-sale as of March 31, 2019 and December 31, 2018 (in millions): Cost Unrealized Gains Unrealized Losses Estimated Fair Value March 31, 2019: Current trading marketable securities: Corporate debt securities $ 113 $ — $ — $ 113 Equity securities 2 — — 2 Total trading marketable securities 115 — — 115 Current available-for-sale securities: U.S. government and agency debt securities 293 1 (1 ) 293 Mortgage and asset-backed debt securities 73 1 — 74 Corporate debt securities 210 1 (1 ) 210 Non-U.S. government debt securities 20 — — 20 Total available-for-sale marketable securities 596 3 (2 ) 597 Total current marketable securities $ 711 $ 3 $ (2 ) $ 712 Cost Unrealized Gains Unrealized Losses Estimated Fair Value December 31, 2018: Current trading marketable securities: Corporate debt securities $ 137 $ — $ — $ 137 Equity securities 2 — — 2 Total trading marketable securities 139 — — 139 Current available-for-sale securities: U.S. government and agency debt securities 297 1 (1 ) 297 Mortgage and asset-backed debt securities 82 — (1 ) 81 Corporate debt securities 275 — (2 ) 273 Non-U.S. government debt securities 20 — — 20 Total available-for-sale marketable securities 674 1 (4 ) 671 Total current marketable securities $ 813 $ 1 $ (4 ) $ 810
Investments Classified by Contractual Maturity Date	The amortized cost and estimated fair value of marketable securities at March 31, 2019 , by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Cost Estimated Fair Value Due in one year or less $ 33 $ 33 Due after one year through three years 578 578 Due after three years through five years 23 23 Due after five years 75 76 709 710 Equity securities 2 2 $ 711 $ 712
Cash and Cash Equivalents and Restricted Cash	A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions): March 31, 2019 December 31, 2018 March 31, 2018 Cash and cash equivalents $ 4,399 $ 4,225 $ 3,544 Restricted cash 143 142 282 Total cash, cash equivalents and restricted cash $ 4,542 $ 4,367 $ 3,826
Fair Value, Assets Measured on Recurring Basis	The following table presents information about our investments measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018 , and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balance March 31, 2019: Marketable Securities: U.S. government and agency debt securities $ 293 $ — $ — $ 293 Mortgage and asset-backed debt securities — 74 — 74 Corporate debt securities — 323 — 323 Equity securities — 2 — 2 Non-U.S. government debt securities — 20 — 20 Total marketable securities 293 419 — 712 Other non-current investments 20 — 2 22 Total $ 313 $ 419 $ 2 $ 734 December 31, 2018: Marketable Securities: U.S. government and agency debt securities $ 297 $ — $ — $ 297 Mortgage and asset-backed debt securities 81 — 81 Corporate debt securities — 410 — 410 Equity securities — 2 — 2 Non-U.S. government debt securities — 20 — 20 Total marketable securities 297 513 — 810 Other non-current investments 19 — 2 21 Total $ 316 $ 513 $ 2 $ 831
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	There were no transfers of investments between Level 1 and Level 2 during the three months ended March 31, 2019 or 2018 .

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment as of March 31, 2019 and December 31, 2018 consists of the following (in millions): 2019 2018 Vehicles $ 9,936 $ 9,820 Aircraft 17,625 17,499 Land 2,056 2,000 Buildings 4,844 4,808 Building and leasehold improvements 4,461 4,323 Plant equipment 11,899 11,833 Technology equipment 2,097 2,093 Construction-in-progress 2,447 2,112 55,365 54,488 Less: Accumulated depreciation and amortization (28,118 ) (27,912 ) $ 27,247 $ 26,576

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	Information about net periodic benefit cost for our company-sponsored pension and postretirement benefit plans is as follows for the three months ended March 31, 2019 and 2018 (in millions): U.S. Pension Benefits U.S. Postretirement Medical Benefits International Pension Benefits 2019 2018 2019 2018 2019 2018 Three Months Ended March 31: Service cost $ 359 $ 416 $ 6 $ 7 $ 14 $ 16 Interest cost 517 449 27 26 12 12 Expected return on assets (782 ) (801 ) (2 ) (2 ) (19 ) (20 ) Amortization of prior service cost 54 49 2 2 — — Net periodic benefit cost $ 148 $ 113 $ 33 $ 33 $ 7 $ 8

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table indicates the allocation of goodwill by reportable segment as of March 31, 2019 and December 31, 2018 (in millions): U.S. Domestic Package International Package Supply Chain & Freight Consolidated December 31, 2018: $ 715 $ 417 $ 2,679 $ 3,811 Acquired — 2 — 2 Currency / Other — (2 ) 2 — March 31, 2019: $ 715 $ 417 $ 2,681 $ 3,813
Schedule of Intangible Assets (Excluding Goodwill)	The following is a summary of intangible assets as of March 31, 2019 and December 31, 2018 (in millions): Gross Carrying Amount Accumulated Amortization Net Carrying Value March 31, 2019: Capitalized software $ 3,783 $ (2,524 ) $ 1,259 Licenses 117 (43 ) 74 Franchise rights 146 (106 ) 40 Customer relationships 737 (236 ) 501 Trade name 200 — 200 Trademarks, patents and other 55 (36 ) 19 Total Intangible Assets, Net $ 5,038 $ (2,945 ) $ 2,093 December 31, 2018: Capitalized software $ 3,693 $ (2,478 ) $ 1,215 Licenses 117 (36 ) 81 Franchise rights 145 (105 ) 40 Customer relationships 736 (217 ) 519 Trade name 200 — 200 Trademarks, patents and other 52 (31 ) 20 Total Intangible Assets, Net $ 4,943 $ (2,867 ) $ 2,075

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease Cost	The components of lease expense for the three months ended March 31, 2019 are as follows (in millions): Three Months Ended Operating lease costs $ 157 Finance lease costs: Amortization of assets 19 Interest on lease liabilities 5 Total finance lease costs 24 Variable and short-term lease costs 278 Total lease costs $ 459 Three Months Ended Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 153 Operating cash flows from finance leases 2 Financing cash flows from finance leases 4 ROU assets obtained in exchange for lease liabilities: Operating leases $ 34
Supplemental Balance Sheet	Supplemental information and balance sheet location related to leases is as follows (in millions, except lease term and discount rate): March 31, 2019 Operating Leases: Operating lease right-of-use assets $ 2,543 Current maturities of operating leases $ 492 Non-current operating leases 2,093 Total operating lease liabilities $ 2,585 Finance Leases: Property, plant and equipment, at cost $ 2,569 Accumulated amortization 942 Property, plant and equipment, net $ 1,627 Current maturities of long-term debt, commercial paper and finance leases $ 138 Long-term debt and finance leases 387 Total finance lease liabilities $ 525 Weighted average remaining lease term (in years): Operating leases 9.1 Finance leases 9.4 Weighted average discount rate: Operating leases 2.74 % Finance leases 4.28 %
Operating Leases Maturity Schedule	Maturities of lease liabilities as of March 31, 2019 are as follows (in millions): Finance Leases Operating Leases 2019 $ 150 $ 430 2020 93 498 2021 44 422 2022 38 350 2023 36 282 Thereafter 292 1,045 Total lease payments 653 3,027 Less: Imputed interest (128 ) (442 ) Total lease obligations 525 2,585 Less: Current obligations (138 ) (492 ) Long-term lease obligations $ 387 $ 2,093
Finance Leases Maturity Schedule	Maturities of lease liabilities as of March 31, 2019 are as follows (in millions): Finance Leases Operating Leases 2019 $ 150 $ 430 2020 93 498 2021 44 422 2022 38 350 2023 36 282 Thereafter 292 1,045 Total lease payments 653 3,027 Less: Imputed interest (128 ) (442 ) Total lease obligations 525 2,585 Less: Current obligations (138 ) (492 ) Long-term lease obligations $ 387 $ 2,093
Contractual Obligation, Fiscal Year Maturity Schedule	The following table sets forth the aggregate minimum lease payments under capital and operating leases (in millions) as of December 31, 2018: Capital Leases Operating Leases 2019 $ 158 $ 578 2020 95 477 2021 42 399 2022 39 325 2023 36 262 After 2023 293 926 Total lease payments 663 2,967 Less: Imputed interest (129 ) Total lease obligations 534 Less: Current obligations (140 ) Long-term lease obligations $ 394

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The carrying value of our outstanding debt as of March 31, 2019 and December 31, 2018 consists of the following (in millions): Principal Amount Carrying Value Maturity 2019 2018 Commercial paper $ 1,644 2019-2020 $ 1,644 $ 2,662 Fixed-rate senior notes: 5.125% senior notes 1,000 2019 1,000 998 3.125% senior notes 1,500 2021 1,522 1,492 2.050% senior notes 700 2021 698 698 2.450% senior notes 1,000 2022 983 1,023 2.350% senior notes 600 2022 598 597 2.500% senior notes 1,000 2023 994 994 2.800% senior notes 500 2024 496 496 2.400% senior notes 500 2026 498 498 3.050% senior notes 1,000 2027 991 991 3.400% senior notes 750 2029 745 — 6.200% senior notes 1,500 2038 1,482 1,482 4.875% senior notes 500 2040 490 490 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 491 491 3.750% senior notes 1,150 2047 1,136 1,136 4.250% senior notes 750 2049 742 — Floating-rate senior notes: Floating-rate senior notes 350 2021 349 349 Floating-rate senior notes 400 2022 399 399 Floating-rate senior notes 500 2023 499 499 Floating-rate senior notes 1,041 2049-2067 1,028 1,029 8.375% Debentures: 8.375% debentures 424 2020 432 419 8.375% debentures 276 2030 281 274 Pound Sterling notes: 5.500% notes 87 2031 86 84 5.125% notes 595 2050 564 546 Euro senior notes: 0.375% notes 786 2023 782 797 1.625% notes 786 2025 782 798 1.000% notes 562 2028 558 570 1.500% notes 562 2032 558 569 Floating-rate senior notes 562 2020 561 572 Canadian senior notes: 2.125% notes 558 2024 555 548 Finance lease obligations 525 2019-3005 525 534 Facility notes and bonds 320 2029-2045 320 320 Other debt 9 2019-2022 9 13 Total debt $ 23,312 23,166 22,736 Less: Current maturities (2,789 ) (2,805 ) Long-term debt $ 20,377 $ 19,931

SHAREOWNERS' EQUITY (Tables)

SHAREOWNERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The following is a rollforward of our common stock, additional paid-in capital, retained earnings and non-controlling minority interest accounts for the three months ended March 31, 2019 and 2018 (in millions, except per share amounts): 2019 2018 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 163 $ 2 173 $ 2 Common stock purchases (1 ) — (1 ) — Stock award plans 3 — 3 — Common stock issuances 2 — 2 — Conversions of class A to class B common stock (3 ) — (3 ) — Class A shares issued at end of period 164 $ 2 174 $ 2 Class B Common Stock Balance at beginning of period 696 $ 7 687 $ 7 Common stock purchases (2 ) — (1 ) — Conversions of class A to class B common stock 3 — 3 — Class B shares issued at end of period 697 $ 7 689 $ 7 Additional Paid-In Capital Balance at beginning of period $ — $ — Stock award plans 169 20 Common stock purchases (251 ) (136 ) Common stock issuances 114 155 Option premiums received (paid) (5 ) (39 ) Balance at end of period $ 27 $ — Retained Earnings Balance at beginning of period $ 8,006 $ 5,852 Net income attributable to common shareowners 1,111 1,345 Dividends ($0.96 and $0.91 per share) (1) (867 ) (840 ) Common stock purchases — (119 ) Reclassification from AOCI pursuant to the early adoption of ASU 2018-02 — 735 Other (1 ) — Balance at end of period $ 8,249 $ 6,973 Non-Controlling Minority Interest Balance at beginning of period $ 16 $ 30 Change in non-controlling minority interest 2 1 Balance at end of period $ 18 $ 31 (1) The dividend per share amount is the same for both class A and class B common stock
Schedule of Accumulated Other Comprehensive Income (Loss)	The activity in AOCI for the three months ended March 31, 2019 and 2018 is as follows (in millions): 2019 2018 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (1,126 ) $ (930 ) Translation adjustment (net of tax effect of $9 and $(9)) 53 (6 ) Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (47 ) Balance at end of period (1,073 ) (983 ) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period (2 ) (2 ) Current period changes in fair value (net of tax effect of $0 and $(1)) 4 (4 ) Reclassification to earnings (net of tax effect of $0 and $1) — 1 Balance at end of period 2 (5 ) Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period 40 (366 ) Current period changes in fair value (net of tax effect of $28 and $(33)) 89 (102 ) Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (79 ) Reclassification to earnings (net of tax effect of $(4) and $12) (13 ) 36 Balance at end of period 116 (511 ) Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (3,906 ) (3,569 ) Reclassification to earnings (net of tax effect of $13 and $12) 43 39 Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 — (609 ) Balance at end of period (3,863 ) (4,139 ) Accumulated other comprehensive income (loss) at end of period $ (4,818 ) $ (5,638 )
Schedule of Reclassifications from Accumulated Other Comprehensive Income (Loss) to Earnings	Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2019 and 2018 is as follows (in millions): Three Months Ended March 31: Amount Reclassified from AOCI Affected Line Item in the Income Statement 2019 2018 Unrealized gain (loss) on marketable securities: Realized loss on sale of securities $ — $ (2 ) Investment income and other Income tax (expense) benefit — 1 Income tax expense Impact on net income — (1 ) Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (6 ) (6 ) Interest expense Foreign exchange contracts 23 (42 ) Revenue Income tax (expense) benefit (4 ) 12 Income tax expense Impact on net income 13 (36 ) Net income Unrecognized pension and postretirement benefit costs: Prior service costs (56 ) (51 ) Investment income and other Income tax (expense) benefit 13 12 Income tax expense Impact on net income (43 ) (39 ) Net income Total amount reclassified for the period $ (30 ) $ (76 ) Net income
Schedule of Deferred Compensation and Treasury Stock Activity	Activity in the deferred compensation program for the three months ended March 31, 2019 and 2018 is as follows (in millions): 2019 2018 Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 32 $ 37 Reinvested dividends 1 1 Benefit payments (8 ) (7 ) Balance at end of period $ 25 $ 31 Treasury Stock: Balance at beginning of period (1 ) $ (32 ) (1 ) $ (37 ) Reinvested dividends — (1 ) — (1 ) Benefit payments — 8 — 7 Balance at end of period (1 ) $ (25 ) (1 ) $ (31 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment information for the three months ended March 31, 2019 and 2018 is as follows (in millions): Three Months Ended 2019 2018 Revenue: U.S. Domestic Package $ 10,480 $ 10,227 International Package 3,459 3,533 Supply Chain & Freight 3,221 3,353 Consolidated $ 17,160 $ 17,113 Operating Profit: U.S. Domestic Package $ 666 $ 756 International Package 528 594 Supply Chain & Freight 200 170 Consolidated $ 1,394 $ 1,520

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2019 and 2018 (in millions, except per share amounts): Three Months Ended 2019 2018 Numerator: Net income attributable to common shareowners $ 1,111 $ 1,345 Denominator: Weighted average shares 860 861 Deferred compensation obligations 1 1 Vested portion of restricted units 5 4 Denominator for basic earnings per share 866 866 Effect of dilutive securities: Restricted units 3 4 Stock options — — Denominator for diluted earnings per share 869 870 Basic earnings per share $ 1.28 $ 1.55 Diluted earnings per share $ 1.28 $ 1.55

DERIVATIVE INSTRUMENTS AND RI_2

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Income Statement and AOCI Recognition The following table indicates the amount of gains and losses that have been recognized in the income statement for the fair value and cash flow hedges, as well as the associated gain or (loss) for the underlying hedged item for fair value hedges for the three months ended March 31, 2019 and 2018 (in millions): March 31, 2019 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ (15 ) $ — Derivatives designated as hedging instruments — 15 — Gains or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (6 ) — Foreign Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income 23 — — Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded $ 23 $ (6 ) $ — March 31, 2018 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 54 $ — Derivatives designated as hedging instruments — (54 ) — Gains or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (6 ) — Foreign Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income into income (42 ) — — Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded $ (42 ) $ (6 ) $ —
Schedule of Notional Amounts of Outstanding Derivative Positions	As of March 31, 2019 and December 31, 2018 , the notional amounts of our outstanding derivative positions were as follows (in millions): March 31, 2019 December 31, 2018 Currency hedges: Euro EUR 4,784 EUR 4,924 British Pound Sterling GBP 1,905 GBP 2,037 Canadian Dollar CAD 1,455 CAD 1,443 Hong Kong Dollar HKD 3,707 HKD 3,642 Singapore Dollar SGD — SGD 20 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 4,674 USD 4,674 Floating to Fixed Interest Rate Swaps USD 778 USD 778
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table indicates the amounts that were recorded in the consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of March 31, 2019 and December 31, 2018 (in millions). Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Line Item in the Consolidated Balance Sheet in Which the Hedged Item is Included March 31, 2019 March 31, 2019 December 31, 2018 December 31, 2018 Current maturities of long-term debt, commercial paper and finance leases $ 1,000 $ — $ — $ — Long-term debt and finance leases 3,218 27 4,207 16 Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Asset Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign exchange contracts Other current assets Level 2 $ 122 $ 90 $ 117 $ 83 Interest rate contracts Other current assets Level 2 — 1 — 1 Foreign exchange contracts Other non-current assets Level 2 277 230 270 215 Interest rate contracts Other non-current assets Level 2 16 14 10 6 Derivatives not designated as hedges: Foreign exchange contracts Other current assets Level 2 2 7 1 5 Foreign exchange contracts Other non-current assets Level 2 — 1 — 1 Interest rate contracts Other non-current assets Level 2 16 18 16 18 Total Asset Derivatives $ 433 $ 361 $ 414 $ 329 Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Liability Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign exchange contracts Other current liabilities Level 2 $ 5 $ 7 $ — $ — Foreign exchange contracts Other non-current liabilities Level 2 7 15 — — Interest rate contracts Other non-current liabilities Level 2 26 41 20 33 Derivatives not designated as hedges: Foreign exchange contracts Other current liabilities Level 2 1 3 — 1 Foreign exchange contracts Other non-current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 39 $ 67 $ 20 $ 35
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table indicates the amount of gains and losses that have been recognized in AOCI within foreign currency translation adjustment for the three months ended March 31, 2019 and 2018 for those instruments designated as net investment hedges (in millions): Three Months Ended March 31: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2019 2018 Foreign denominated debt $ 73 $ (80 ) Total $ 73 $ (80 ) three months ended March 31, 2019 and 2018 for those derivatives designated as cash flow hedges (in millions): Three Months Ended March 31: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivative 2019 2018 Interest rate contracts $ 13 $ 1 Foreign exchange contracts 104 (136 ) Total $ 117 $ (135 )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following is a summary of the amounts recorded in the statements of consolidated income related to fair value changes and settlements of these interest rate swaps, foreign currency forward and investment market price forward contracts not designated as hedges for the three months ended March 31, 2019 and 2018 (in millions): Derivative Instruments Not Designated in Hedging Relationships Location of Gain (Loss) Recognized in Income Amount of Gain (Loss) Recognized in Income 2019 2018 Three Months Ended March 31: Interest rate contracts Interest expense $ (2 ) $ (2 ) Foreign exchange contracts Investment income and other (1 ) 8 Investment market price contracts Investment income and other — 16 Total $ (3 ) $ 22

BASIS OF PRESENTATION Property,

BASIS OF PRESENTATION Property, Plant and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 55,365	$ 54,488
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	28,118	27,912
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,461	4,323
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	9,936	9,820
Aircraft
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	17,625	17,499
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,056	2,000
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,844	4,808
Plant equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	11,899	11,833
Technology equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,097	2,093
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,447	$ 2,112

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS - Narratives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Dec. 31, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating lease right-of-use assets	$ 2,543			$ 0
Operating lease liability	2,585
Hedge margin liabilities	383			325
Income Tax Expense (Benefit)
Income tax benefit	(329)	$ (316)
Retained earnings	8,249			8,006
Accumulated other comprehensive loss	(4,818)	(5,638)		(4,994)
Investments and Restricted Cash	169			170
Operating Leases, Future Minimum Payments Due				$ 2,967
Revenues	17,160	17,113
Operating expenses	$ 15,766	$ 15,593
2016-02
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Operating lease right-of-use assets			$ 2,650
Operating lease liability			$ 2,700

RECENT ACCOUNTING PRONOUNCEME_3

RECENT ACCOUNTING PRONOUNCEMENTS - Balance Sheet Impact (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets
Other current assets	$ 1,333	$ 1,277
Total Current Assets	14,904	16,210
Deferred income tax assets	153	141
Total Assets	52,061	50,016
Liabilities:
Accounts payable	3,907	5,188
Accrued wages and withholdings	2,913	3,047
Total Current Liabilities	13,209	14,087
Deferred income tax liabilities	1,758	1,619
Shareowners' Equity:
Retained earnings	8,249	8,006
Total Shareowners’ Equity	3,485	3,037
Total Liabilities and Shareowners’ Equity	$ 52,061	$ 50,016

RECENT ACCOUNTING PRONOUNCEME_4

RECENT ACCOUNTING PRONOUNCEMENTS - Income Statement Impact (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	$ 17,160	$ 17,113
Operating Expenses:
Compensation and benefits	9,317	9,045
Depreciation and amortization	568	596
Fuel	770	750
Other occupancy	371	361
Other expenses	1,340	1,262
Operating expenses	15,766	15,593
Operating Profit	1,394	1,520
Other Income and (Expense):
Investment income and other	215	294
Interest expense	(169)	(153)
Total Other Income and (Expense)	46	141
Income Before Income Taxes	1,440	1,661
Income Tax Expense (Benefit)	329	316
Net Income	$ 1,111	$ 1,345
Basic Earnings Per Share	$ 1.28	$ 1.55
Diluted Earnings Per Share	$ 1.28	$ 1.55

RECENT ACCOUNTING PRONOUNCEME_5

RECENT ACCOUNTING PRONOUNCEMENTS - Cash Flow Impact (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net Income	$ 1,111	$ 1,345
Deferred tax (benefit) expense	78	106
Other assets	128	1,100
Accounts payable	(1,143)	(601)
Accrued wages and withholdings	(94)	(67)
Other liabilities	87	(24)
Net cash from operating activities	2,277	4,067
Purchases of marketable securities	(248)	(177)
Net cash used in investing activities	(1,416)	(1,446)
Net decrease in cash, cash equivalents and restricted cash	175	57
Beginning of period	4,367	3,769
End of period	$ 4,542	$ 3,826

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue
Revenues	$ 17,160	$ 17,113
Forwarding
Disaggregation of Revenue
Revenues	1,416	1,605
Logistics
Disaggregation of Revenue
Revenues	832	782
Freight
Disaggregation of Revenue
Revenues	773	777
Other
Disaggregation of Revenue
Revenues	200	189
U.S | Next Day Air
Disaggregation of Revenue
Revenues	1,841	1,784
U.S | Deferred
Disaggregation of Revenue
Revenues	1,089	1,069
U.S | Ground
Disaggregation of Revenue
Revenues	7,550	7,374
International
Disaggregation of Revenue
Revenues	3,459	3,533
International | Domestic
Disaggregation of Revenue
Revenues	690	716
International | Export
Disaggregation of Revenue
Revenues	2,631	2,672
International | Cargo & Other
Disaggregation of Revenue
Revenues	138	145
Supply Chain & Freight | Supply Chain & Freight
Disaggregation of Revenue
Revenues	3,221	3,353
U.S. Domestic Package | U.S
Disaggregation of Revenue
Revenues	$ 10,480	$ 10,227

Revenue Recognition - Narrative

Revenue Recognition - Narratives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Provisions for doubtful receivables	$ 37	$ 12
Contract assets	170		$ 234
Deferred revenue	229		236
Contract liability, current	5		5
Contract liability, noncurrent	$ 26		$ 26

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Mar. 22, 2018	Mar. 01, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 25, 2019	Feb. 14, 2019	Feb. 06, 2019	Mar. 24, 2017
Stockholders Equity Note [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Cycle Period			3 years
Stock compensation expense			$ 308	$ 239
Management Incentive Award [Member]
Stockholders Equity Note [Line Items]
Percentage of the award vesting at each anniversary date of the grant			20.00%
Closing New York Stock Exchange price					$ 106.90	$ 111.80	$ 108.82
Award vesting period			5 years
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Closing New York Stock Exchange price								$ 107.35
Weighted-average fair value of options granted (usd per share)			$ 123.40	$ 137.57
Nonqualified Stock Options [Member]
Stockholders Equity Note [Line Items]
Percentage of the award vesting at each anniversary date of the grant			20.00%
Expiration period (in years)			10 years
Award vesting period			5 years
Stock options granted	10	300	300
Weighted-average fair value of options granted (usd per share)	$ 104.45	$ 111.80		$ 106.43

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Employee Stock Options Granted as Determined by Black-Scholes Valuation Model Assumptions (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Nonqualified Stock Options [Member]
Stockholders Equity Note [Line Items]
Risk-free interest rate	2.60%	2.84%
Expected volatility	17.79%	16.72%
Weighted-average fair value of options granted (usd per share)	$ 16.39	$ 15.23
Expected dividend yield	2.93%	2.93%
Expected life (in years)	7 years 6 months	7 years 6 months
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Risk-free interest rate	2.24%	2.61%
Expected volatility	19.61%	16.51%
Weighted-average fair value of options granted (usd per share)	$ 123.40	$ 137.57
Expected dividend yield	114.95%	123.47%

Summary of Marketable Securitie

Summary of Marketable Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Schedule of Marketable Securities [Line Items]
Debt Securities, Trading, Amortized Cost	$ 115	$ 139
Trading Securities, Gross Unrealized Gain	0	0
Trading Securities, Gross Unrealized Loss	0	0
Debt Securities, Trading, and Equity Securities, FV-NI	115	139
Available-for-sale Securities, Amortized Cost Basis	596	674
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	3	1
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	(2)	(4)
Available-for-sale Securities, Current	597	671
Total Amortized Cost	711	813
Marketable Securities, Gross Unrealized Gain	3	1
Marketable Securities, Gross Unrealized Loss	(2)	(4)
Total Estimated Fair Value	712	810
Corporate debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Trading, Amortized Cost	113	137
Trading Securities, Gross Unrealized Gain	0	0
Trading Securities, Gross Unrealized Loss	0	0
Debt Securities, Trading, and Equity Securities, FV-NI	113	137
Available-for-sale Securities, Amortized Cost Basis	210	275
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	1	0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	(1)	(2)
Available-for-sale Securities, Current	210	273
U.S. government and agency debt securities
Schedule of Marketable Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	293	297
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	1	1
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	(1)	(1)
Available-for-sale Securities, Current	293	297
Mortgage and asset-backed debt securities
Schedule of Marketable Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	73	82
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	1	0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	0	(1)
Available-for-sale Securities, Current	74	81
Equity securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Trading, Amortized Cost	2	0
Trading Securities, Gross Unrealized Gain	0	0
Trading Securities, Gross Unrealized Loss	0	0
Debt Securities, Trading, and Equity Securities, FV-NI	2	0
Non-U.S. government debt securities
Schedule of Marketable Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	20	20
Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax	0	0
Available-for-sale Equity Securities, Accumulated Gross Unrealized Loss, before Tax	0	0
Available-for-sale Securities, Current	$ 20	$ 20

Amortized Cost and Estimated Fa

Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Cost
Due in one year or less	$ 33
Due after one year through three years	578
Due after three years through five years	23
Due after five years	75
Marketable Securities, Debt Maturities, Amortized Cost, Total	709
Equity securities	2
Total Amortized Cost	711	$ 813
Estimated Fair Value
Due in one year or less	33
Due after one year through three years	578
Due after three years through five years	23
Due after five years	76
Marketable Securities, Debt Maturities, Fair Value, Total	710
Equity securities	2
Total Estimated Fair Value	$ 712	$ 810

INVESTMENTS AND RESTRICTED CA_3

INVESTMENTS AND RESTRICTED CASH - Additional Information (Detail)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Gain (Loss) on Securities [Line Items]
Investments and Restricted Cash	$ 169,000,000	$ 170,000,000
Fair value of unobservable assets measured on a recurring basis	2,000,000	2,000,000
Transfer between level 1 and level 2	0		$ 0
cash held in escrow [Member]
Gain (Loss) on Securities [Line Items]
Restricted Cash and Cash Equivalents, Noncurrent	6,000,000	9,000,000
Self-insurance requirements [Member]
Gain (Loss) on Securities [Line Items]
Investments and Restricted Cash	143,000,000	142,000,000
Variable life insurance policy
Gain (Loss) on Securities [Line Items]
Investments and Restricted Cash	$ 20,000,000	$ 19,000,000
Discount Rate
Gain (Loss) on Securities [Line Items]
Investments, measurement input	0.0800	0.0816

INVESTMENTS AND RESTRICTED CA_4

INVESTMENTS AND RESTRICTED CASH - Cash Details (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 4,399	$ 4,225	$ 3,544
Restricted cash	143	142	282
Total cash, cash equivalents and restricted cash	$ 4,542	$ 4,367	$ 3,826	$ 3,769

Investments Measured at Fair Va

Investments Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 734	$ 831
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	712	810
Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	293	297
Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	74	81
Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	323	410
Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2	2
Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	20	20
Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	22	21
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	313	316
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	293	297
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	293	297
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	20	19
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	419	513
Significant Other Observable Inputs (Level 2) | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	419	513
Significant Other Observable Inputs (Level 2) | Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Other Observable Inputs (Level 2) | Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	74	81
Significant Other Observable Inputs (Level 2) | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	323	410
Significant Other Observable Inputs (Level 2) | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2	2
Significant Other Observable Inputs (Level 2) | Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	20	20
Significant Other Observable Inputs (Level 2) | Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2	2
Significant Unobservable Inputs (Level 3) | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Unobservable Inputs (Level 3) | Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 2	$ 2

Property Plant and Equipment (D

Property Plant and Equipment (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 55,365		$ 54,488
Less: Accumulated depreciation and amortization	(28,118)		(27,912)
Property, plant and equipment, net	27,247		26,576
Net Income	$ 1,111	$ 1,345
Basic Earnings Per Share	$ 1.28	$ 1.55
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 9,936		9,820
Aircraft
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	17,625		17,499
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,056		2,000
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,844		4,808
Plant equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	11,899		11,833
Technology equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,097		2,093
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,447		$ 2,112

Property Plant and Equipment -

Property Plant and Equipment - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Net Income	$ 1,111,000,000	$ 1,345,000,000
Basic Earnings Per Share	$ 1.28	$ 1.55
Impairment charges on property plant and equipment	$ 0	$ 0
Scenario, Adjustment [Member]
Property, Plant and Equipment [Line Items]
Depreciation	37,000,000
Net Income	$ 29,000,000
Basic Earnings Per Share	$ 0.03
Scenario, Adjustment [Member] | Transformation Assets [Member]
Property, Plant and Equipment [Line Items]
Depreciation	$ (127,000,000)
Net Income	$ 98,000,000
Basic Earnings Per Share	$ 0.11
Scenario, Adjustment [Member] | Capital Investments [Member]
Property, Plant and Equipment [Line Items]
Depreciation	$ 90,000,000
Net Income	$ 69,000,000
Basic Earnings Per Share	$ 0.08

Net Periodic Benefit Cost for P

Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Pension Plan | U.S. Pension Benefits
Net Periodic Cost:
Service cost	$ 359	$ 416
Interest cost	517	449
Expected return on assets	(782)	(801)
Amortization of prior service cost	54	49
Net periodic benefit cost	148	113
Defined Benefit Pension Plan | International Pension Benefits
Net Periodic Cost:
Service cost	14	16
Interest cost	12	12
Expected return on assets	(19)	(20)
Amortization of prior service cost	0	0
Net periodic benefit cost	7	8
U.S. Postretirement Medical Benefits
Net Periodic Cost:
Service cost	6	7
Interest cost	27	26
Expected return on assets	(2)	(2)
Amortization of prior service cost	2	2
Net periodic benefit cost	$ 33	$ 33

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) $ in Millions	Dec. 31, 2007USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)Employees	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating benefit obligation, discount rate				0.32%
Defined benefit plan,actual return on plan assets				2.75%
Multiemployer Plans, Payment Term		44 years
Number of employees under a national master agreement and various supplemental agreements with local unions affiliated with Teamsters | Employees			283,000
Number of pilots under a collective bargaining agreement with the Independent Pilots Association | Employees			2,800
Majority of ground mechanics not employed under agreements | Employees			3,100
Multiemployer Plans, Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Multi-employer Plans, Withdrawal Obligation, Fair Value Disclosure		$ 851	$ 832
Multiemployer Plans, Pension [Member] | Central States Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Payment of withdrawal liability	$ 6,100
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)			1,600
Pension liability		4,000
Long term debt | Multiemployer Plans, Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plans, Withdrawal Obligation, Present Value		850	852
Other current liabilities | Multiemployer Plans, Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plans, Withdrawal Obligation, Present Value		7	$ 7
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions to defined benefit plan, current fiscal year		2,100
Defined Benefit Pension Plan | U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans		22
U.S. Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans		192
Estimated future employer contributions to defined benefit plan, current fiscal year		52
Pro Forma | Maximum [Member] | Multiemployer Plans, Pension [Member] | Central States Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)		$ 2,400

Allocation of Goodwill by Repor

Allocation of Goodwill by Reportable Segment (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,811
Acquired	2
Currency / Other	0
Ending balance	3,813
U.S. Domestic Package
Goodwill [Roll Forward]
Beginning balance	715
Acquired	0
Currency / Other	0
Ending balance	715
International Package
Goodwill [Roll Forward]
Beginning balance	417
Acquired	2
Currency / Other	(2)
Ending balance	417
Supply Chain & Freight
Goodwill [Roll Forward]
Beginning balance	2,679
Acquired	0
Currency / Other	2
Ending balance	$ 2,681

Summary of Intangible Assets (D

Summary of Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,038	$ 4,943
Accumulated Amortization	(2,945)	(2,867)
Net Carrying Value	2,093	2,075
Licenses
Finite-Lived Intangible Assets [Line Items]
Carrying value	4
Trade name
Finite-Lived Intangible Assets [Line Items]
Carrying value	200
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,783	3,693
Accumulated Amortization	(2,524)	(2,478)
Net Carrying Value	1,259	1,215
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	117	117
Accumulated Amortization	(43)	(36)
Net Carrying Value	74	81
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	146	145
Accumulated Amortization	(106)	(105)
Net Carrying Value	40	40
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	737	736
Accumulated Amortization	(236)	(217)
Net Carrying Value	501	519
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	200	200
Accumulated Amortization	0	0
Net Carrying Value	200	200
Trademarks, patents and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	55	52
Accumulated Amortization	(36)	(31)
Net Carrying Value	$ 19	$ 20

LEASES - Narratives (Details)

LEASES - Narratives (Details)	Mar. 31, 2019aircraft
Leases [Abstract]
Number of lease aircrafts (aircraft)	332
Number of lease aircrafts, finance (aircraft)	34
Number of lease aircrafts, operating (aircraft)	12
Number of lease aircrafts, short-term (aircraft)	286

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease costs	$ 157
Finance lease costs:
Amortization of assets	19
Interest on lease liabilities	5
Total finance lease costs	24
Variable and short-term lease costs	278
Total lease costs	$ 459

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Operating Leases:
Operating lease right-of-use assets	$ 2,543	$ 0
Current maturities of operating leases	492	0
Non-current operating leases	2,093	$ 0
Total lease obligations	2,585
Finance Leases:
Property, plant and equipment, at cost	2,569
Accumulated amortization	942
Finance Lease, Right-of-Use Asset	1,627
Current maturities of long-term debt, commercial paper and finance leases	138
Long-term debt and finance leases	387
Total lease obligations	$ 525
Weighted average remaining lease term (in years):
Operating leases	9 years 1 month 6 days
Finance leases	9 years 4 months 24 days
Weighted average discount rate:
Operating leases	2.74%
Finance leases	4.28%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Disclosures (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 153
Operating cash flows from finance leases	2
Financing cash flows from finance leases	4
Operating leases	$ 34

LEASES - Maturity Schedule Afte

LEASES - Maturity Schedule After Adoption (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Finance Leases
2019	$ 150
2020	93
2021	44
2022	38
2023	36
Thereafter	292
Total lease payments	653
Less: Imputed interest	(128)
Total lease obligations	525
Less: Current obligations	(138)
Long-term lease obligations	387
Operating Leases
2019	430
2020	498
2021	422
2022	350
2023	282
Thereafter	1,045
Total lease payments	3,027
Less: Imputed interest	(442)
Total lease obligations	2,585
Less: Current obligations	(492)	$ 0
Long-term lease obligations	$ 2,093	$ 0

LEASES - Maturity Schedule Prio

LEASES - Maturity Schedule Prior to Adoption (Details) $ in Millions	Dec. 31, 2018USD ($)
Capital Leases
2019	$ 158
2020	95
2021	42
2022	39
2023	36
After 2023	293
Total lease payments	663
Less: Imputed interest	(129)
Total lease obligations	534
Less: Current obligations	(140)
Long-term lease obligations	394
Operating Leases
2019	578
2020	477
2021	399
2022	325
2023	262
After 2023	926
Total lease payments	$ 2,967

Carrying Value of Outstanding D

Carrying Value of Outstanding Debt (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 23,312,000,000
Debt instrument, stated interest rate	8.375%
Total debt	$ 23,166,000,000	$ 22,736,000,000
Less current maturities	(2,789,000,000)	(2,805,000,000)
Long-Term Debt and Finance Leases	20,377,000,000	19,931,000,000
Commercial Paper
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,644,000,000
Maturity - Minimum Date	Mar. 31, 2019
Maturity - Maximum Date	Dec. 31, 2020
Total debt	$ 1,644,000,000	2,662,000,000
Senior notes | 5.50% stated rate
Debt Instrument [Line Items]
Maturity - Maximum Date	Dec. 31, 2018
Debt instrument, stated interest rate	5.50%
Senior notes | 5.125% stated rate
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000,000
Maturity - Maximum Date	Dec. 31, 2019
Debt instrument, stated interest rate	5.125%
Total debt	$ 1,000,000,000	998,000,000
Senior notes | 3.125% stated rate
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500,000,000
Maturity - Maximum Date	Dec. 31, 2021
Debt instrument, stated interest rate	3.125%
Total debt	$ 1,522,000,000	1,492,000,000
Senior notes | 2.050% senior notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 700,000,000
Maturity - Maximum Date	Dec. 31, 2021
Debt instrument, stated interest rate	2.05%
Total debt	$ 698,000,000	698,000,000
Senior notes | 2.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000,000
Maturity - Maximum Date	Dec. 31, 2026
Debt instrument, stated interest rate	2.40%
Total debt	$ 498,000,000	498,000,000
Senior notes | 3.050% senior notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000,000
Maturity - Maximum Date	Dec. 31, 2027
Debt instrument, stated interest rate	3.05%
Total debt	$ 991,000,000	991,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750,000,000
Maturity - Maximum Date	Dec. 31, 2029
Debt instrument, stated interest rate	3.40%
Total debt	$ 745,000,000	0
Senior notes | 2.45% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000,000
Maturity - Maximum Date	Dec. 31, 2022
Debt instrument, stated interest rate	2.45%
Total debt	$ 983,000,000	1,023,000,000
Senior notes | 2.350% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600,000,000
Maturity - Maximum Date	Dec. 31, 2022
Debt instrument, stated interest rate	2.35%
Total debt	$ 598,000,000	597,000,000
Senior notes | 2.500% senior notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000,000,000
Maturity - Maximum Date	Dec. 31, 2023
Debt instrument, stated interest rate	2.50%
Total debt	$ 994,000,000	994,000,000
Senior notes | 2.800% senior notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000,000
Maturity - Maximum Date	Dec. 31, 2024
Debt instrument, stated interest rate	2.80%
Total debt	$ 496,000,000	496,000,000
Senior notes | 6.20% stated rate
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,500,000,000
Maturity - Maximum Date	Dec. 31, 2038
Debt instrument, stated interest rate	6.20%
Total debt	$ 1,482,000,000	1,482,000,000
Senior notes | 4.875% stated rate
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000,000
Maturity - Maximum Date	Dec. 31, 2040
Debt instrument, stated interest rate	4.875%
Total debt	$ 490,000,000	490,000,000
Senior notes | 3.625% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 375,000,000
Maturity - Maximum Date	Dec. 31, 2042
Debt instrument, stated interest rate	3.625%
Total debt	$ 368,000,000	368,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000,000
Maturity - Maximum Date	Dec. 31, 2046
Debt instrument, stated interest rate	3.40%
Total debt	$ 491,000,000	491,000,000
Senior notes | 3.750% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,150,000,000
Maturity - Maximum Date	Dec. 31, 2047
Debt instrument, stated interest rate	3.75%
Total debt	$ 1,136,000,000	1,136,000,000
Senior notes | 4.250% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750,000,000
Maturity - Maximum Date	Dec. 31, 2049
Debt instrument, stated interest rate	4.25%
Total debt	$ 742,000,000	0
Senior notes | Floating Rate Senior Notes 2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 350,000,000
Maturity - Maximum Date	Dec. 31, 2021
Total debt	$ 349,000,000	349,000,000
Senior notes | 8.375% debentures
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 424,000,000
Maturity - Maximum Date	Dec. 31, 2020
Debt instrument, stated interest rate	8.375%
Total debt	$ 432,000,000	419,000,000
Senior notes | 8.375% debentures
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 276,000,000
Maturity - Maximum Date	Dec. 31, 2030
Total debt	$ 281,000,000	274,000,000
Senior notes | Canadian senior note 2.125%
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 558,000,000
Maturity - Maximum Date	Dec. 31, 2024
Debt instrument, stated interest rate	2.125%
Total debt	$ 555,000,000	548,000,000
Senior notes | Floating rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 400,000,000
Maturity - Maximum Date	Dec. 31, 2022
Total debt	$ 399,000,000	399,000,000
Senior notes | Floating Rate Senior Notes 3 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 500,000,000
Maturity - Maximum Date	Dec. 31, 2023
Total debt	$ 499,000,000	499,000,000
Senior notes | Floating Rate Senior Notes 4 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,041,000,000
Maturity - Minimum Date	Dec. 31, 2049
Maturity - Maximum Date	Dec. 31, 2067
Total debt	$ 1,028,000,000	1,029,000,000
Capital Lease Obligations
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 525,000,000
Maturity - Minimum Date	Dec. 31, 2019
Maturity - Maximum Date	Dec. 31, 3005
Total debt	$ 525,000,000	534,000,000
Pound Sterling notes | 5.500% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 87,000,000
Maturity - Maximum Date	Dec. 31, 2031
Debt instrument, stated interest rate	5.50%
Total debt	$ 86,000,000	84,000,000
Pound Sterling notes | 5.125% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 595,000,000
Maturity - Maximum Date	Jan. 1, 2050
Debt instrument, stated interest rate	5.125%
Total debt	$ 564,000,000	546,000,000
Euro Senior Notes | 0.375% Euro Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 786,000,000
Maturity - Maximum Date	Dec. 31, 2023
Debt instrument, stated interest rate	0.375%
Total debt	$ 782,000,000	797,000,000
Euro Senior Notes | 1.625% Euro Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 786,000,000
Maturity - Maximum Date	Dec. 31, 2025
Debt instrument, stated interest rate	1.625%
Total debt	$ 782,000,000	798,000,000
Euro Senior Notes | 1.000% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 562,000,000
Maturity - Maximum Date	Dec. 31, 2028
Debt instrument, stated interest rate	1.00%
Total debt	$ 558,000,000	570,000,000
Euro Senior Notes | 1.500% Euro Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 562,000,000
Maturity - Maximum Date	Dec. 31, 2032
Debt instrument, stated interest rate	1.50%
Total debt	$ 558,000,000	569,000,000
Euro Senior Notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 562,000,000
Maturity - Maximum Date	Dec. 31, 2020
Total debt	$ 561,000,000	572,000,000
Facility notes and bonds
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 320,000,000
Maturity - Minimum Date	Dec. 31, 2029
Maturity - Maximum Date	Dec. 31, 2045
Total debt	$ 320,000,000	320,000,000
Other debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 9,000,000
Maturity - Minimum Date	Dec. 31, 2019
Maturity - Maximum Date	Dec. 31, 2022
Total debt	$ 9,000,000	$ 13,000,000

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Additional Information (Detail) € in Millions	Mar. 13, 2019USD ($)	Mar. 31, 2019EUR (€)Credit_Agreements	Apr. 04, 2019USD ($)	Mar. 31, 2019USD ($)Credit_Agreements	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt instrument, stated interest rate		8.375%		8.375%
Face value of debt instrument				$ 23,312,000,000
Number of credit agreements | Credit_Agreements		2		2
Covenants limit, amount of secured indebtedness and debt in sale-leaseback transactions, percentage of net tangible assets		10.00%		10.00%
Covenants that limit the amount of secured indebtedness and amount of attributable debt in sale-leaseback transactions, net tangible assets amount				$ 3,295,000,000
Sale-lease back outstanding				0
Secured debt outstanding				0
Long-term debt fair value				24,102,000,000	$ 23,293,000,000
U.S. Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow				10,000,000,000
Foreign Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow | €		€ 5,000
Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Maturity		Dec. 10, 2019
Revolving credit facilities			$ 1,500,000,000	3,000,000,000
Applicable margin for base rate below LIBOR		1.00%
Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Maturity		Dec. 11, 2023
Revolving credit facilities				$ 3,000,000,000
Applicable margin for base rate below LIBOR		1.00%
Revolving Credit Facility Expiring In 2017 | Minimum [Member]
Debt Instrument [Line Items]
Applicable margin for base rate below LIBOR		0.00%
Senior notes | 2.350% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate		2.35%		2.35%
Face value of debt instrument				$ 600,000,000
Senior notes | 3.050% senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, stated interest rate		3.05%		3.05%
Face value of debt instrument				$ 1,000,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate		3.40%		3.40%
Face value of debt instrument				$ 750,000,000
Senior notes | 4.250% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate		4.25%		4.25%
Face value of debt instrument				$ 750,000,000
Senior notes | 5.125% stated rate
Debt Instrument [Line Items]
Debt instrument, stated interest rate		5.125%		5.125%
Face value of debt instrument				$ 1,000,000,000
Senior notes | 5.50% stated rate
Debt Instrument [Line Items]
Debt instrument, stated interest rate		5.50%		5.50%
Commercial Paper
Debt Instrument [Line Items]
Face value of debt instrument				$ 1,644,000,000
Commercial Paper | U.S. Commercial Paper Program
Debt Instrument [Line Items]
Total debt				$ 1,119,000,000
Debt, weighted average interest rate		2.43%		2.43%
Commercial Paper | Foreign Commercial Paper Program
Debt Instrument [Line Items]
Total debt		€ 468		$ 525,000,000
Debt, weighted average interest rate		0.35%		0.35%
United States of America, Dollars | 3.050% senior notes [Member]
Debt Instrument [Line Items]
Face value of debt instrument	$ 750,000,000
United States of America, Dollars | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	3.40%
United States of America, Dollars | 4.250% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	4.25%
LIBOR rate | Revolving Credit Facility Expiring In 2015 | Minimum [Member]
Debt Instrument [Line Items]
Applicable margin rates		0.10%
LIBOR rate | Revolving Credit Facility Expiring In 2015 | Maximum [Member]
Debt Instrument [Line Items]
Applicable margin rates		0.75%
LIBOR rate | Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Applicable margin rates		1.00%
LIBOR rate | Revolving Credit Facility Expiring In 2017 | Minimum [Member]
Debt Instrument [Line Items]
Applicable margin rates		0.10%
LIBOR rate | Revolving Credit Facility Expiring In 2017 | Maximum [Member]
Debt Instrument [Line Items]
Applicable margin rates		0.75%
Citibank base rate | Revolving Credit Facility Expiring In 2015 | Minimum [Member]
Debt Instrument [Line Items]
Applicable margin rates		0.00%
Citibank base rate | Revolving Credit Facility Expiring In 2015 | Maximum [Member]
Debt Instrument [Line Items]
Applicable margin rates		1.00%
Federal Funds Rate | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates		0.50%
Federal Funds Rate | Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Applicable margin rates		0.50%
LIBOR | Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Applicable margin rates	0.15%
LIBOR | Senior notes | 4.250% senior notes
Debt Instrument [Line Items]
Applicable margin rates	0.20%

LEGAL PROCEEDINGS AND CONTING_2

LEGAL PROCEEDINGS AND CONTINGENCIES (Narratives) (Details) € in Millions, $ in Millions	Mar. 08, 2018EUR (€)	May 25, 2017USD ($)	Apr. 30, 2018Defendants	Aug. 31, 2016Defendants	Mar. 31, 2019USD ($)
U.S. District Court for the Southern District of New York
Loss Contingencies
Settlement amount		$ 9.4
Penalties related to settlement		$ 237.6
Loss Contingency Accrual					$ 9.4
Estimated losses					$ 247
CNMC
Loss Contingencies
Settlement amount | €	€ 19.2
Number of defendants | Defendants				10
Turkish Competition Authority
Loss Contingencies
Number of defendants | Defendants			30

SHAREOWNERS' EQUITY - Additiona

SHAREOWNERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)optionVoteClasses_of_Common_Stock$ / sharesshares	Mar. 31, 2018USD ($)shares	May 01, 2016USD ($)
Stockholders Equity Note [Line Items]
Classes of Common Stock, Number | Classes_of_Common_Stock	2
Preferred stock, shares authorized | shares	200,000,000
Preferred stock, par value | $ / shares	$ 0.01
Preferred stock, issued | shares	0
Common stock authorized for purchase, amount | $			$ 8,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $	$ 3,088
Change in non-controlling minority interest | $	$ 2	$ 1
Class A common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	10
Common stock, par value | $ / shares	$ 0.01
Common stock, shares authorized | shares	4,600,000,000
Total of Class A and Class B common stock, repurchased, value | $	$ 0	$ 0
Common stock purchases | shares	1,000,000	1,000,000
Class B common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	1
Common stock, par value | $ / shares	$ 0.01
Common stock, shares authorized | shares	5,600,000,000
Total of Class A and Class B common stock, repurchased, value | $	$ 0	$ 0
Common stock purchases | shares	2,000,000	1,000,000
Class A and B Common Stock
Stockholders Equity Note [Line Items]
Total of Class A and Class B common stock, repurchased, value | $	$ 251	$ 255
Common stock purchases | shares	2,400,000	2,200,000
Options Held [Member]
Stockholders Equity Note [Line Items]
Option premiums received | $	$ 5	$ 39
Number of options open | option	300,000
Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share | $ / shares	$ 95.95

Roll-forward of Common Stock, A

Roll-forward of Common Stock, Additional Paid-in Capital, Retained Earnings Accounts and Noncontrolling Interest (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 3,021
Net income attributable to common shareowners	1,111	$ 1,345
Balance at end of period	$ 3,467
Common stock, cash paid for dividends, per share	$ 0.96	$ 0.91
Non-Controlling Minority Interest
Balance at beginning of period	$ 16	$ 30
Change in non-controlling minority interest	2	1
Balance at end of period	18	31
Class A common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 2	$ 2
Balance at beginning of period, shares	163	173
Common stock purchases	$ 0	$ 0
Common stock purchases, shares	(1)	(1)
Stock award plans	$ 0	$ 0
Stock award plans, shares	3	3
Common stock issuances	$ 0	$ 0
Common stock issuances, shares	2	2
Conversions of class A to class B common stock	$ 0	$ 0
Conversions of Class A to Class B common stock, shares	(3)	(3)
Balance at end of period	$ 2	$ 2
Balance at end of period, shares	164	174
Class B common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 7	$ 7
Balance at beginning of period, shares	696	687
Common stock purchases	$ 0	$ 0
Common stock purchases, shares	(2)	(1)
Conversions of class A to class B common stock	$ 0	$ 0
Conversions of Class A to Class B common stock, shares	(3)	(3)
Balance at end of period	$ 7	$ 7
Balance at end of period, shares	697	689
Additional Paid-in Capital
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 0	$ 0
Common stock purchases	(251)	(136)
Stock award plans	169	20
Common stock issuances	114	155
Option premiums received (paid)	(5)	(39)
Balance at end of period	27	0
Retained Earnings
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	8,006	5,852
Common stock purchases	0	(119)
Net income attributable to common shareowners	1,111	1,345
Balance at end of period	8,249	6,973
Dividends ($0.96 and $0.91 per share) (1)	(867)	(840)
Reclassification from AOCI pursuant to the early adoption of ASU 2018-02			$ 0	$ 735
Other	$ (1)	$ 0

Activity in Accumulated Other C

Activity in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ (4,994)
Translation adjustment (net of tax effect of $9 and $(9))	53	$ (6)
Current period changes in fair value (net of tax effect of $0 and $(1))	4	(3)
Current period changes in fair value (net of tax effect of $28 and $(33))	76	(66)
Balance at end of period	(4,818)	(5,638)
Foreign currency translation gain (loss):
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1,126)	(930)
Translation adjustment (net of tax effect of $9 and $(9))	53	(6)
Balance at end of period	(1,073)	(983)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	(47)
Unrealized gain (loss) on marketable securities, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(2)	(2)
Current period changes in fair value (net of tax effect of $0 and $(1))	4	(4)
Balance at end of period	2	(5)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	1
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(1)
Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	40	(366)
Current period changes in fair value (net of tax effect of $28 and $(33))	89	(102)
Reclassification to earnings (net of tax effect of $(4) and $12)	(13)	36
Balance at end of period	116	(511)
Reclassification to earnings, tax effect	(13)	36
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(3,906)	(3,569)
Remeasurement of plan assets and liabilities (net of tax effect of $0 and $214) (1)	43	39
Reclassification to earnings (net of tax effect of $_ and $12)	0	(609)
Balance at end of period	(3,863)	(4,139)
Income Tax Expense Benefit [Member] | Unrealized gain (loss) on marketable securities, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	1
Income Tax Expense Benefit [Member] | Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings, tax effect	(4)	12
Income Tax Expense Benefit [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	13	12
Net Income [Member] [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	(30)	(76)
Net Income [Member] [Member] | Unrealized gain (loss) on marketable securities, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(1)
Net Income [Member] [Member] | Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of $(4) and $12)	(13)	36
Net Income [Member] [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of $_ and $12)	(43)	(39)
Labor and Related Expense [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(56)	(51)
Foreign exchange contracts | Interest Expense | Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	23	(42)
Interest rate contracts | Interest Expense | Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ (6)	$ (6)

Activity in Accumulated Other_2

Activity in Accumulated Other Comprehensive Income (Loss) (Phantoms) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (4,994)
Change in foreign currency translation adjustment, net of tax	53	$ (6)
Balance at end of period	(4,818)	(5,638)
Foreign currency translation gain (loss):
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(1,126)	(930)
Change in foreign currency translation adjustment, net of tax	53	(6)
Balance at end of period	(1,073)	(983)
Aggregate adjustment for the period, tax	9	(9)
Unrealized gain (loss) on marketable securities, net of tax:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(2)	(2)
Balance at end of period	2	(5)
Current period changes in fair value, tax effect	1	(1)
Reclassification to earnings, tax effect	0	1
Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	40	(366)
Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02			$ 0	$ (79)
Balance at end of period	116	(511)
Current period changes in fair value, tax effect	28	(33)
Reclassification to earnings, tax effect	(13)	36
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(3,906)	(3,569)
Balance at end of period	(3,863)	(4,139)
Reclassification to earnings, tax effect	13	12
Other Comprehensive Income (Loss), Defined Benefit Plan, Adjustment for Settlement or Curtailment Gain (Loss), Tax	$ 0	$ 0

Activity in Deferred Compensati

Activity in Deferred Compensation Program (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	(1)
Balance at end of period	(1)
Balance at beginning of period	$ 3,021
Balance at end of period	$ 3,467
Treasury Stock [Member]
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	(1)	(1)
Reinvested dividends	0	0
Benefit payments	0	0
Balance at end of period	(1)	(1)
Balance at beginning of period	$ (32)	$ (37)
Reinvested dividends	(1)	(1)
Benefit payments	8	7
Balance at end of period	(25)	(31)
Deferred Compensation Obligations
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	32	37
Reinvested dividends	(1)	(1)
Benefit payments	8	7
Balance at end of period	$ 25	$ 31

SHAREOWNERS' EQUITY Amounts Rec

SHAREOWNERS' EQUITY Amounts Reclassified from AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Income [Member] [Member]
AmountsReclassifiedFromAOCI [Line Items]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	$ (30)	$ (76)
Accumulated Net Unrealized Investment Gain (Loss) [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	1
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(1)
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Income Tax Expense Benefit [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	1
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Net Income [Member] [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(1)
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	0	(2)
Unrealized gain (loss) on cash flow hedges, net of tax:
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(13)	36
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	13	(36)
Unrealized gain (loss) on cash flow hedges, net of tax: | Income Tax Expense Benefit [Member]
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(4)	12
Unrealized gain (loss) on cash flow hedges, net of tax: | Net Income [Member] [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	13	(36)
Unrealized gain (loss) on cash flow hedges, net of tax: | Interest rate contracts | Interest Expense
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(6)	(6)
Unrealized gain (loss) on cash flow hedges, net of tax: | Foreign exchange contracts | Interest Expense
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	23	(42)
Accumulated Defined Benefit Plans Adjustment [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	0	(609)
Accumulated Defined Benefit Plans Adjustment [Member] | Labor and Related Expense [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(56)	(51)
Accumulated Defined Benefit Plans Adjustment [Member] | Income Tax Expense Benefit [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	13	12
Accumulated Defined Benefit Plans Adjustment [Member] | Net Income [Member] [Member]
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax	$ (43)	$ (39)

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019Countries_and_TerritoriesSegments
Segment Reporting Information [Line Items]
Operating Segments, Number | Segments	3
International Package | Minimum
Segment Reporting Information [Line Items]
Number of countries and territories in which service is rendered	220
Supply Chain & Freight | Minimum
Segment Reporting Information [Line Items]
Number of countries and territories in which service is rendered	200

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 17,160	$ 17,113
Operating Profit	1,394	1,520
U.S. Domestic Package
Segment Reporting Information [Line Items]
Operating Profit	666	756
International Package
Segment Reporting Information [Line Items]
Operating Profit	528	594
Supply Chain & Freight
Segment Reporting Information [Line Items]
Operating Profit	200	170
U.S | U.S. Domestic Package
Segment Reporting Information [Line Items]
Revenue	10,480	10,227
International
Segment Reporting Information [Line Items]
Revenue	3,459	3,533
Supply Chain & Freight | Supply Chain & Freight
Segment Reporting Information [Line Items]
Revenue	$ 3,221	$ 3,353

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income attributable to common shareowners	$ 1,111	$ 1,345
Denominator:
Weighted average shares	860	861
Deferred compensation obligations	1	1
Vested portion of restricted shares	5	4
Denominator for basic earnings per share	866	866
Effect of dilutive securities:
Denominator for diluted earnings per share	869	870
Basic earnings per share (usd per share)	$ 1.28	$ 1.55
Diluted earnings per share (usd per share)	$ 1.28	$ 1.55
Restricted performance units
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	3	4
Stock option plans
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	0	0

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from diluted earnings per share that may be issued upon the exercise of employee stock options because such effect would be antidilutive	0.9	0.3
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from diluted earnings per share that may be issued upon the exercise of employee stock options because such effect would be antidilutive	0.1	0.3

DERIVATIVE INSTRUMENTS AND RI_3

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Collateral received under contractual provisions	$ 383	$ 325
Derivative net liability position		0
Pre-tax losses related to cash flow hedges that are currently deferred in AOCI and are expected to be reclassified to income within twelve months	$ 132
Maximum term over hedging exposures to the variability of cash flow	14 years
Change in Credit Rating
Derivative [Line Items]
Derivative, Additional Collateral, Obligation to Return Cash	$ 1	0
Long-term debt and finance leases | Designated as Hedging Instrument | Fair Value
Derivative [Line Items]
Liability Derivatives	$ 27	$ 16

Notional Amounts of Outstanding

Notional Amounts of Outstanding Derivative Positions (Detail) € in Millions, ₨ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions

Mar. 31, 2019EUR (€)

Mar. 31, 2019USD ($)

Mar. 31, 2019GBP (£)

Mar. 31, 2019INR (₨)

Mar. 31, 2019CAD ($)

Mar. 31, 2019SGD ($)

Dec. 31, 2018EUR (€)

Dec. 31, 2018USD ($)

Dec. 31, 2018GBP (£)

Dec. 31, 2018INR (₨)

Dec. 31, 2018CAD ($)

Dec. 31, 2018SGD ($)

Derivative [Line Items]

Derivative, Notional Amount

€ 4,784

£ 1,905

₨ 3,707

$ 1,455

$ 0

€ 4,924

£ 2,037

₨ 3,642

$ 1,443

$ 20

Fixed to Floating Interest Rate Swaps

Derivative [Line Items]

Derivative, Notional Amount

$ 4,674

$ 4,674

Floating to Fixed Interest Rate Swaps

Derivative [Line Items]

Derivative, Notional Amount

$ 778

$ 778

Location on the Balance Sheet o

Location on the Balance Sheet of Derivative Assets and Liabilities (Detail) - Fair Value, Inputs, Level 2 - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Asset Derivatives
Asset Derivatives	$ 433	$ 361
Net Amounts if Right of Offset had been Applied	414	329
Derivative Liabilities [Abstract]
Liability Derivatives	39	67
Net Amounts if Right of Offset had been Applied	20	35
Designated as Hedging Instrument | Foreign exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	122	90
Net Amounts if Right of Offset had been Applied	117	83
Designated as Hedging Instrument | Foreign exchange contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	277	230
Net Amounts if Right of Offset had been Applied	270	215
Designated as Hedging Instrument | Foreign exchange contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	5	7
Net Amounts if Right of Offset had been Applied	0	0
Designated as Hedging Instrument | Foreign exchange contracts | Other non-current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	7	15
Net Amounts if Right of Offset had been Applied	0	0
Designated as Hedging Instrument | Interest rate contracts | Other current assets
Asset Derivatives
Asset Derivatives	0	1
Net Amounts if Right of Offset had been Applied	0	1
Designated as Hedging Instrument | Interest rate contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	16	14
Net Amounts if Right of Offset had been Applied	10	6
Designated as Hedging Instrument | Interest rate contracts | Other non-current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	26	41
Net Amounts if Right of Offset had been Applied	20	33
Not Designated as Hedging Instrument | Foreign exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	2	7
Net Amounts if Right of Offset had been Applied	1	5
Not Designated as Hedging Instrument | Foreign exchange contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	0	1
Net Amounts if Right of Offset had been Applied	0	1
Not Designated as Hedging Instrument | Foreign exchange contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	1	3
Net Amounts if Right of Offset had been Applied	0	1
Not Designated as Hedging Instrument | Foreign exchange contracts | Other non-current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	0	1
Net Amounts if Right of Offset had been Applied	0	1
Not Designated as Hedging Instrument | Interest rate contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	16	18
Net Amounts if Right of Offset had been Applied	$ 16	$ 18

DERIVATIVE INSTRUMENTS AND RI_4

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Fair Value Derivative Balance Sheet Location (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current maturities of long-term debt, commercial paper and finance leases | Carrying Amount
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 1,000	$ 0
Current maturities of long-term debt, commercial paper and finance leases | Fair Value
Derivatives, Fair Value [Line Items]
Liability Derivatives	0	0
Long-term debt and finance leases | Carrying Amount
Derivatives, Fair Value [Line Items]
Liability Derivatives	3,218	4,207
Long-term debt and finance leases | Fair Value
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 27	$ 16

DERIVATIVE INSTRUMENTS AND RI_5

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Income Statement and AOCI Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	$ 0	$ 0
Derivatives designated as hedging instruments	0	0
Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded	23	(42)
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	(15)	54
Derivatives designated as hedging instruments	15	(54)
Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded	(6)	(6)
Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	0	0
Derivatives designated as hedging instruments	0	0
Total amounts of income and expense line items presented in the statement of income in which the effects of fair value or cash flow hedges are recorded	0	0
Foreign Exchange Contract [Member] | Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	23	(42)
Foreign Exchange Contract [Member] | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Foreign Exchange Contract [Member] | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Interest Rate Contract [Member] | Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Interest Rate Contract [Member] | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(6)	(6)
Interest Rate Contract [Member] | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	$ 0	$ 0

Amount and Location in the Inco

Amount and Location in the Income Statement for Derivatives Designed as Cash Flow Hedges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments in Cash Flow Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivative	$ 117	$ (135)
Derivative Instruments in Cash Flow Hedging Relationships | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivative	13	1
Derivative Instruments in Cash Flow Hedging Relationships | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivative	104	(136)
Non-derivative Instruments in Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivative	73	(80)
Non-derivative Instruments in Net Investment Hedging Relationships | Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivative	$ 73	$ (80)

Amount Recorded in Income State

Amount Recorded in Income Statements for Foreign Currency Forward Contracts Not Designated as Hedges (Detail) - Not Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (3)	$ 22
Interest rate contracts | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	(2)	(2)
Foreign exchange contracts | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	(1)	8
Investment market price contracts | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ 0	$ 16

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax
Transformation cost	$ 123,000,000
Income tax benefit related to pretax transformation strategy	(30,000,000)
Income tax benefit	$ (329,000,000)	$ (316,000,000)

TRANSFORMATION STRATEGY (Detail

TRANSFORMATION STRATEGY (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Restructuring and Related Activities [Abstract]
Transformation cost	$ 123,000,000
Other transformation related costs	106,000,000
Other expenses	17,000,000
Transformation strategy cost	$ 93,000,000