United Parcel Service (UPS) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 24, 2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-15451
Entity Registrant Name	United Parcel Service, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-2480149
Entity Address, Street Address	55 Glenlake Parkway N.E. ,
Entity Address, City	Atlanta,
Entity Address, State	GA
Entity Address, Postal Zip Code	30328
City Area Code	404
Local Phone Number	828-6000
Title of 12(b) Security	Class B common stock, par value $0.01 per share
Trading Symbol	UPS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001090727
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
0.375% Senior Notes due 2023
Title of 12(b) Security	0.375% Senior Notes due 2023
Trading Symbol	UPS23A
Security Exchange Name	NYSE
1.625% Senior Notes due 2025
Title of 12(b) Security	1.625% Senior Notes due 2025
Trading Symbol	UPS25
Security Exchange Name	NYSE
1% Senior Notes due 2028
Title of 12(b) Security	1% Senior Notes due 2028
Trading Symbol	UPS28
Security Exchange Name	NYSE
1.500% Senior Notes due 2032
Title of 12(b) Security	1.500% Senior Notes due 2032
Trading Symbol	UPS32
Security Exchange Name	NYSE
Class A common stock
Entity Common Stock, Shares Outstanding		139,983,977
Class B common stock
Entity Common Stock, Shares Outstanding		729,158,173

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 10,212	$ 5,910
Marketable securities	348	406
Accounts receivable	10,602	10,888
Less: Allowance for credit losses	(128)	(138)
Accounts receivable, net	10,474	10,750
Disposal Group, Including Discontinued Operation, Assets	0	1,197
Other current assets	1,809	1,953
Total Current Assets	22,843	20,216
Property, Plant and Equipment, Net	32,859	32,254
Operating Lease Right-Of-Use Assets	3,460	3,073
Goodwill	3,332	3,367
Intangible Assets, Net	2,224	2,274
Investments and Restricted Cash	24	25
Deferred Income Tax Assets	181	527
Other Non-Current Assets	816	672
Total Assets	65,739	62,408
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases	1,268	2,623
Current maturities of operating leases	552	560
Accounts payable	6,445	6,455
Accrued wages and withholdings	3,805	3,569
Self-insurance reserves	1,093	1,085
Accrued group welfare and retirement plan contributions	957	927
Total liabilities to be disposed of	0	347
Other current liabilities	1,352	1,450
Total Current Liabilities	15,472	17,016
Long-Term Debt and Finance Leases	20,838	22,031
Non-Current Operating Leases	2,938	2,540
Pension and Postretirement Benefit Obligations	7,672	15,817
Deferred Income Tax Liabilities	2,775	488
Other Non-Current Liabilities	3,987	3,847
Shareowners' Equity:
Additional paid-in capital	1,088	865
Retained earnings	13,973	6,896
Accumulated other comprehensive loss	(3,029)	(7,113)
Deferred compensation obligations	$ 16	$ 20
Treasury stock, shares	300,000	400,000
Less: Treasury stock (0.3 shares in 2021 and 0.4 shares in 2020)	$ (16)	$ (20)
Total Equity for Controlling Interests	12,041	657
Noncontrolling interests	16	12
Total Shareowners’ Equity	12,057	669
Total Liabilities and Shareowners’ Equity	65,739	62,408
Class A common stock
Shareowners' Equity:
Common stock	2	2
Class B common stock
Shareowners' Equity:
Common stock	$ 7	$ 7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 30, 2021	Dec. 31, 2020
Treasury stock, shares	300,000	400,000
Class A common stock
Common stock, shares issued	141,000,000	147,000,000
Class B common stock
Common stock, shares issued	728,000,000	718,000,000

STATEMENTS OF CONSOLIDATED INCO

STATEMENTS OF CONSOLIDATED INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 23,184	$ 21,238	$ 69,516	$ 59,732
Operating Expenses:
Compensation and benefits	11,148	11,077	33,958	32,006
Repairs and maintenance	619	576	1,837	1,693
Depreciation and amortization	738	677	2,199	1,986
Purchased transportation	4,638	3,937	13,327	10,584
Fuel	950	618	2,672	1,878
Other occupancy	384	376	1,252	1,114
Other expenses	1,811	1,614	5,352	4,824
Total Operating Expenses	20,288	18,875	60,597	54,085
Operating Profit	2,896	2,363	8,919	5,647
Other Income and (Expense):
Investment income and other	274	338	4,235	1,011
Interest expense	(177)	(176)	(521)	(526)
Total Other Income and (Expense)	97	162	3,714	485
Income Before Income Taxes	2,993	2,525	12,633	6,132
Income Tax Expense	664	568	2,836	1,442
Net Income	$ 2,329	$ 1,957	$ 9,797	$ 4,690
Basic Earnings Per Share	$ 2.66	$ 2.25	$ 11.21	$ 5.42
Diluted Earnings Per Share	$ 2.65	$ 2.24	$ 11.16	$ 5.39

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,329	$ 1,957	$ 9,797	$ 4,690
Change in foreign currency translation adjustment, net of tax	(106)	65	(140)	(66)
Change in unrealized gain (loss) on marketable securities, net of tax	0	(2)	(5)	3
Change in unrealized gain (loss) on cash flow hedges, net of tax	112	(195)	180	(92)
Change in unrecognized pension and postretirement benefit costs, net of tax	29	43	4,049	130
Comprehensive Income (Loss)	$ 2,364	$ 1,868	$ 13,881	$ 4,665

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows From Operating Activities:
Net income attributable to common shareowners	$ 9,797	$ 4,690
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	2,199	1,986
Pension and postretirement benefit (income) expense	(2,656)	481
Pension and postretirement benefit contributions	(331)	(1,307)
Self-insurance reserves	122	388
Deferred tax (benefit) expense	1,271	566
Stock compensation expense	700	508
Other (gains) losses	33	164
Changes in assets and liabilities, net of effects of business acquisitions:
Accounts receivable	(21)	352
Other assets	256	391
Accounts payable	20	(450)
Accrued wages and withholdings	306	1,330
Other liabilities	65	120
Other operating activities	0	64
Net cash from operating activities	11,761	9,283
Cash Flows From Investing Activities:
Capital expenditures	(2,570)	(3,219)
Proceeds from disposal of businesses, property, plant and equipment	870
Proceeds from disposal of businesses, property, plant and equipment		10
Purchases of marketable securities	(197)	(202)
Sales and maturities of marketable securities	257	309
Net change in finance receivables	28	24
Cash paid for business acquisitions, net of cash and cash equivalents acquired	(12)	(13)
Other investing activities	24	(15)
Net cash used in investing activities	(1,600)	(3,106)
Cash Flows From Financing Activities:
Net change in short-term debt	0	(1,924)
Proceeds from long-term borrowings	0	5,003
Repayments of long-term borrowings	(2,613)	(2,746)
Purchases of common stock	(500)	(224)
Issuances of common stock	196	214
Dividends	(2,578)	(2,528)
Other financing activities	(361)	(351)
Net cash used in financing activities	(5,856)	(2,556)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(3)	(19)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	4,302	3,602
Cash, Cash Equivalents and Restricted Cash:
Beginning of period	5,910	5,238
End of period	$ 10,212	$ 8,840

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION AND ACCOUNTING POLICIES Principles of Consolidation The accompanying interim unaudited, consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. These interim unaudited, consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly our financial position as of September 30, 2021, our results of operations for the three and nine months ended September 30, 2021 and 2020 and our cash flows for the nine months ended September 30, 2021 and 2020. The results reported in these interim unaudited, consolidated financial statements should not be regarded as 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, 2020. 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 September 30, 2021 and December 31, 2020. The fair values of our investment securities are disclosed in note 5, our recognized multiemployer pension withdrawal liabilities in note 8, our short- and long-term debt in note 10 and our derivative instruments in note 16. 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 these financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic. The severity, magnitude and duration of the pandemic, and the resulting economic consequences, remain uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change significantly over time. For interim unaudited, consolidated financial statement purposes, we provide for accruals under our various company-sponsored employee benefit plans for each three month period based on one quarter of the estimated annual expense.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Adoption of New Accounting Standards In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848), to temporarily ease the potential burden in accounting for reference rate reform. The standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform. The guidance was effective upon issuance and generally can be applied through December 31, 2022. While there has been no material impact so far to our financial position, results of operations or cash flows from reference rate reform, we continue to monitor our contracts and transactions for potential application of this ASU. For accounting standards adopted in the period ended September 30, 2020, refer to note 1 to our audited, consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020. Other accounting pronouncements adopted during the periods covered by the unaudited, 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 Accounting pronouncements issued before, but not effective until after, September 30, 2021, are not expected to have a material impact on our consolidated financial position, results of operations or cash flows.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenue Recognition Substantially all of our revenues are from contracts associated with the pickup, transportation and delivery of packages and freight (“transportation services”), whether carried out or arranged by UPS, either domestically or internationally, which generally occurs over a short period of time. Additionally, we provide value-added logistics services to customers, both domestically and internationally, through our global network of company-owned and leased distribution centers and field stocking locations. Disaggregation of Revenue Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue: Next Day Air $ 2,415 $ 2,098 $ 7,202 $ 6,137 Deferred 1,304 1,378 3,877 3,873 Ground 10,489 9,749 31,541 27,745 U.S. Domestic Package 14,208 13,225 42,620 37,755 Domestic 852 776 2,716 2,183 Export 3,641 3,153 10,808 8,538 Cargo & Other 227 158 620 454 International Package 4,720 4,087 14,144 11,175 Forwarding 2,625 1,753 7,006 4,897 Logistics 1,158 1,040 3,424 2,862 Freight — 870 1,064 2,360 Other 473 263 1,258 683 Supply Chain Solutions 4,256 3,926 12,752 10,802 Consolidated revenue $ 23,184 $ 21,238 $ 69,516 $ 59,732 We account for a contract when both parties have approved the contract and are committed to perform their obligations, the rights of the parties are identified, 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 GAAP. To determine the proper revenue recognition method for contracts, we evaluate whether two or more contracts should be combined and accounted for as a 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. Within most of our contracts, the customer contracts with us to provide distinct services, 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 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 integrate 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 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 to 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, which are generally seven days within our U.S. Domestic Package business, 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 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. GAAP requires us to evaluate, using a control model, 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). 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 reasonable and supportable forecasts affect the expected collectability. This requires us to make our best estimate of the current expected losses inherent in our accounts receivable at each balance sheet date. These estimates require consideration of historical loss experience, adjusted for current conditions, forward looking indicators, trends in customer payment frequency and judgments about the probable effects of relevant observable data, including present and future 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. In the third quarter of 2021, we increased our allowance for expected credit losses by $5 million (a decrease of $10 million year to date) based upon current forecasts that reflect changes in the economic outlook. Our allowance for credit losses as of September 30, 2021 and December 31, 2020 was $128 and $138 million, respectively. Amounts for credit losses charged to expense, before recoveries, during the three months ended September 30, 2021 and 2020 were $48 and $51 million, respectively, and for the nine months ended September 30, 2021 and 2020, were $128 and $204 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 $339 and $279 million as of September 30, 2021 and December 31, 2020, respectively, net of deferred revenue related to in-transit packages of $359 and $279 million as of September 30, 2021 and December 31, 2020, respectively. Contract assets are included within "Other current assets" in the consolidated balance sheets. Short-term contract liabilities related to advance payments from customers were $35 and $21 million as of September 30, 2021 and December 31, 2020, respectively. Short-term contract liabilities are included within "Other current liabilities" in the consolidated balance sheets. Long-term contract liabilities related to advance payments from customers were $26 million as of both September 30, 2021 and December 31, 2020. Long-term contract liabilities are included within "Other Non-Current Liabilities" in the consolidated balance sheets.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We issue share-based awards under various incentive compensation plans, including non-qualified and incentive stock options, stock appreciation rights, restricted stock and stock units ("RSUs") and restricted performance shares and performance units ("RPUs", collectively with RSUs, "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. Our primary equity compensation programs are the UPS Management Incentive Award program (the "MIP"), the UPS Long-Term Incentive Performance Award program (the "LTIP") 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 our primary employee defined contribution savings plan are made in shares of UPS class A common stock. Management Incentive Award Program ("MIP") RPUs issued under the MIP vest one year following the grant date based on continued employment with the Company (except in the case of death, disability or retirement, in which case immediate vesting occurs). The grant value is expensed on a straight-line basis (less estimated forfeitures) over the requisite service period (except in the case of death, disability or retirement, in which case immediate expensing occurs). Based on the date of Compensation Committee approval of the 2020 MIP award, we determined the award measurement dates to be February 10, 2021 (for U.S.-based employees and executive management) and March 22, 2021 (for international employees). The RPUs issued under the MIP were valued for stock compensation expense purposes using the closing New York Stock Exchange ("NYSE") prices of $165.66 and $161.06 on those dates. Long-Term Incentive Performance Award Program ("LTIP") RPUs issued under the LTIP vest at the end of a three For LTIP awards with a performance period ending December 31, 2021, the performance targets are equally weighted among consolidated operating return on invested capital ("ROIC"), growth in currency-constant consolidated revenue and total shareholder 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 RPUs (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 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. For LTIP awards with a performance period ending in 2022 or later, the performance targets are equally weighted between adjusted earnings per share and adjusted cumulative free cash flow. The final number of RPUs earned will then be subject to adjustment based on RTSR relative to the Standard & Poors 500 Index ("S&P 500"). We determine the grant date fair value of the RPUs using a Monte Carlo model and recognize compensation expense (less estimated forfeitures) ratably over the vesting period, based on the number of awards expected to be earned. For the 2020 LTIP award, the performance period was divided into two measurement periods. The first measurement period evaluated the achievement of the performance targets for 2020. The second measurement period will evaluate the achievement of the performance targets for the years 2021 and 2022. The performance targets for the second measurement period were approved on March 25, 2021 and the target RPUs awarded were valued at $167.66 on that date. Based on the date of Compensation Committee approval of the 2021 LTIP award performance targets, we determined March 25, 2021 to be the award measurement date and the target RPUs awarded were valued at $166.52. The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2021 and 2020 are as follows: 2021 2020 Risk-free interest rate 0.19 % 0.15 % Expected volatility 30.70 % 27.53 % Weighted-average fair value of RPUs granted $ 167.31 $ 92.77 Share payout 102.40 % 101.00 % There is no expected dividend yield as units earn dividend equivalents. Non-Qualified Stock Options We grant non-qualified stock options to a limited group of eligible senior management employees under the UPS Stock Option program. Stock option awards vest over a five The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2021 and 2020 are as follows: 2021 2020 Expected dividend yield 3.31 % 3.51 % Risk-free interest rate 0.84 % 1.26 % Expected life (in years) 7.5 7.5 Expected volatility 23.15 % 19.25 % Weighted-average fair value of options granted $ 23.71 $ 11.74 Pre-tax compensation expense for share-based awards recognized in Compensation and benefits on the statements of consolidated income for the three months ended September 30, 2021 and 2020 was $179 and $140 million , respectively, and for the nine months ended September 30, 2021 and 2020 was $700 and $508 million, respectively.

CASH AND INVESTMENTS

CASH AND INVESTMENTS	9 Months Ended
	Sep. 30, 2021
Marketable Securities [Abstract]
CASH AND INVESTMENTS	CASH AND INVESTMENTS The following is a summary of marketable securities classified as trading and available-for-sale as of September 30, 2021 and December 31, 2020 (in millions): Cost Unrealized Unrealized Estimated September 30, 2021: Current trading marketable securities: Equity securities $ 2 $ — $ — $ 2 Total trading marketable securities 2 — — 2 Current available-for-sale securities: U.S. government and agency debt securities 222 1 — 223 Mortgage and asset-backed debt securities — — — — Corporate debt securities 113 2 — 115 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 343 3 — 346 Total current marketable securities $ 345 $ 3 $ — $ 348 Cost Unrealized Unrealized Estimated December 31, 2020: Current trading marketable securities: Equity securities $ 2 $ — $ — $ 2 Total trading marketable securities 2 — — 2 Current available-for-sale securities: U.S. government and agency debt securities 181 3 — 184 Mortgage and asset-backed debt securities 30 1 — 31 Corporate debt securities 174 4 — 178 U.S. state and local municipal debt securities — — — — Non-U.S. government debt securities 11 — — 11 Total available-for-sale marketable securities 396 8 — 404 Total current marketable securities $ 398 $ 8 $ — $ 406 Investment Impairments We have concluded that no material impairment losses existed as of September 30, 2021. In making this determination, we considered the financial condition and prospects of each issuer, the magnitude of the losses compared with the 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 as of September 30, 2021 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 with or without prepayment penalties. Cost Estimated Due in one year or less $ 35 $ 35 Due after one year through three years 306 309 Due after three years through five years 2 2 Due after five years — — 343 346 Equity securities 2 2 $ 345 $ 348 Non-Current Investments and Restricted Cash We held a $23 million investment in a variable life insurance policy to fund benefits for the UPS Excess Coordinating Benefit Plan as of both September 30, 2021 and December 31, 2020. The change in investment fair value is recognized in Investment income and other in the statements of consolidated income. Additionally, we held escrowed cash related to the acquisition and disposition of certain assets of $1 million and $2 million as of September 30, 2021 and December 31, 2020, respectively. These amounts 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): September 30, December 31, 2020 September 30, Cash and cash equivalents $ 10,212 $ 5,910 $ 8,839 Restricted cash — — 1 Total cash, cash equivalents and restricted cash $ 10,212 $ 5,910 $ 8,840 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. The following table presents information about our investments measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices Significant Other Significant Balance September 30, 2021: Marketable Securities: U.S. government and agency debt securities $ 217 $ 6 $ — $ 223 Mortgage and asset-backed debt securities — — — — Corporate debt securities — 115 — 115 U.S. state and local municipal debt securities — 5 — 5 Equity securities — 2 — 2 Non-U.S. government debt securities — 3 — 3 Total marketable securities 217 131 — 348 Other non-current investments 23 — — 23 Total $ 240 $ 131 $ — $ 371 December 31, 2020: Marketable Securities: U.S. government and agency debt securities $ 184 $ — $ — $ 184 Mortgage and asset-backed debt securities — 31 — 31 Corporate debt securities — 178 — 178 U.S. state and local municipal debt securities — — — — Equity securities — 2 — 2 Non-U.S. government debt securities — 11 — 11 Total marketable securities 184 222 — 406 Other non-current investments 23 — — 23 Total $ 207 $ 222 $ — $ 429

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE As previously disclosed, on January 24, 2021, we entered into a definitive agreement to divest our UPS Freight business to TFI International Inc. ("TFI") for $800 million, subject to working capital and other adjustments. As of December 31, 2020, we classified UPS Freight as held for sale and, as a result, recognized a total pre-tax impairment charge of $686 million ($629 million after tax), comprised of a goodwill impairment charge of $494 million and a valuation allowance of $192 million to adjust the carrying value of the disposal group to fair value less cost to sell. As of March 31, 2021, we increased the valuation allowance by $66 million ($50 million after tax) to adjust the carrying value of the disposal group to our revised estimate of fair value less cost to sell. On April 30, 2021, we completed the divestiture of UPS Freight for cash proceeds of $848 million, which included our estimate of working capital and other adjustments. Self-insurance reserves for UPS Freight and obligations for benefits earned within UPS-sponsored pension and postretirement medical benefit plans were retained by us. In connection with the completion of the divestiture of UPS Freight, we remeasured and amended certain of our company-sponsored U.S. pension and postretirement medical benefit plans, resulting in a $2.1 billion reduction in the obligations included in our consolidated balance sheet. Also in connection with the completion of the divestiture, we recorded a pre-tax gain of $101 million ($77 million after tax), which included the impact of the plan remeasurements and plan amendments. There were no adjustments recorded during the three months ended September 30, 2021. The nine months ended September 30, 2021 include a net pre-tax gain of $35 million ($27 million after tax), recognized within Other expenses in the statements of consolidated income. UPS and TFI also entered into an agreement for UPS Freight to continue to utilize our U.S. Domestic Package network to fulfill shipments for an initial period of five years. UPS also agreed to provide certain other services to TFI for a transitional period. We recognize our performance under commercial agreements as revenue in the statements of consolidated income. Expenses associated with commercial agreements are presented in the respective line items of operating expenses in the statements of consolidated income. The following table summarizes the carrying values of the assets and liabilities classified as held for sale in our consolidated balance sheets as of September 30, 2021 and December 31, 2020 (in millions): 2021 2020 Assets: Accounts receivable, net $ — $ 263 Other current assets — 62 Property, plant and equipment, net — 940 Other non-current assets — 124 Total assets — 1,389 Valuation allowance — (192) Total assets held for sale $ — $ 1,197 Liabilities: Accounts payable $ — $ 50 Other current liabilities — 112 Other non-current liabilities — 185 Total liabilities to be disposed of $ — $ 347 Net assets held for sale $ — $ 850

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of September 30, 2021 and December 31, 2020 consisted of the following (in millions): 2021 2020 Vehicles $ 9,990 $ 9,786 Aircraft 21,497 20,549 Land 2,049 2,052 Buildings 5,844 5,425 Building and leasehold improvements 4,987 4,921 Plant equipment 15,315 14,684 Technology equipment 2,788 2,626 Construction-in-progress 1,507 2,048 63,977 62,091 Less: Accumulated depreciation and amortization (31,118) (29,837) Property, Plant and Equipment, Net $ 32,859 $ 32,254 Property, plant and equipment purchased on account was $365 and $319 million as of September 30, 2021 and December 31, 2020, respectively. We continually monitor our aircraft fleet utilization in light of current and projected volume levels, aviation 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. There were no material impairment charges to our property, plant and equipment for the three months ended September 30, 2021. For the nine months ended September 30, 2021, we recognized impairment charges of $30 million due to the cancellation of certain facility automation and expansion projects. There were no material impairment charges for the corresponding periods of 2020.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Company-Sponsored Benefit Plans Information about the net periodic benefit (income) cost for our company-sponsored pension and postretirement benefit plans for the three and nine months ended September 30, 2021 and 2020 is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2021 2020 2021 2020 2021 2020 Three Months Ended September 30: Service cost $ 442 $ 463 $ 7 $ 7 $ 19 $ 17 Interest cost 490 495 21 23 9 10 Expected return on assets (825) (887) (1) (2) (17) (22) Amortization of prior service cost 36 55 2 1 — — Net periodic benefit cost $ 143 $ 126 $ 29 $ 29 $ 11 $ 5 U.S. Pension Benefits U.S. Postretirement International 2021 2020 2021 2020 2021 2020 Nine Months Ended September 30: Service cost $ 1,456 $ 1,390 $ 21 $ 22 $ 57 $ 50 Interest cost 1,459 1,483 60 68 29 30 Expected return on assets (2,502) (2,662) (4) (6) (51) (64) Amortization of prior service cost 103 164 5 5 1 1 Actuarial (gain) loss (3,290) — — — — — Net periodic benefit (income) cost $ (2,774) $ 375 $ 82 $ 89 $ 36 $ 17 The components of net periodic benefit (income) cost other than current service cost are presented within Investment income and other in the statements of consolidated income. The divestiture of UPS Freight triggered an interim remeasurement of certain UPS-sponsored pension and postretirement medical benefit plans under Accounting Standards Codification Topic 715 ("ASC 715"). Accordingly, we remeasured the plan assets and benefit obligations of the UPS Pension Plan, UPS Retirement Plan and UPS Retired Employee Health Care Plan as of April 30, 2021. The interim remeasurement resulted in an actuarial gain of $2.1 billion, reflecting a gain from updated actuarial assumptions. The actuarial gain reflects a $3.7 billion benefit from a 49 basis point increase in the discount rate compared to December 31, 2020 and a $0.1 billion benefit related to workforce reductions associated with the divestiture, offset by a $1.7 billion asset loss resulting from actual asset returns approximately 430 basis points below our expected return. As a result, $2.1 billion of the actuarial gain was recorded in accumulated other comprehensive income within the equity section of the consolidated balance sheet. A pre-tax actuarial gain of $69 million ($52 million after tax) was immediately recognized for a prior service credit related to the divested group in the statement of consolidated income for the second quarter. We also amended certain benefit terms within the aforementioned plans as of April 30, 2021. The amendment to the UPS Pension Plan resulted in the immediate recognition of a $66 million ($50 million after tax) loss in the statement of consolidated income for the second quarter. The impacts of the plan remeasurements and plan amendments are included within Other expenses in the statements of consolidated income as components of the divestiture of UPS Freight. During the first nine months of 2021, we contributed $96 and $235 million to our company-sponsored pension and U.S. postretirement medical benefit plans, respectively. We expect to contribute approximately $21 million over the remainder of the year to our U.S. postretirement medical benefit plans. 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 September 30, 2021 and December 31, 2020, we had $832 and $837 million, respectively, recorded in Other non-current liabilities on our consolidated balance sheets and $8 and $7 million as of September 30, 2021 and December 31, 2020, respectively, recorded in Other current liabilities on 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 41 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 September 30, 2021 and December 31, 2020 was $966 million and $1.0 billion, 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 at which time UPS withdrew and paid a $6.1 billion withdrawal liability to satisfy our allocable share of unfunded vested benefits. 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 this withdrawal agreement, benefits to the UPS Transfer Group cannot be reduced without our consent and can only be reduced in accordance with applicable law. The financial crisis of 2008 created extensive asset losses at the CSPF, contributing to the plan’s projected insolvency, at which time benefits would be reduced to the legally permitted Pension Benefit Guaranty Corporation ("PBGC") limits, triggering the coordination of benefits provision in the collective bargaining agreement. In 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 2015, the CSPF submitted a proposed pension benefit reduction plan to the U.S. Department of the Treasury (“Treasury”). In 2016, Treasury rejected the proposed plan submitted by the CSPF. In light of its financial difficulties, the CSPF had stated that it believed a legislative solution to its funded status would be necessary or that it would become insolvent in 2025, at which time benefits would be reduced to the applicable PBGC benefit levels. We account for the potential obligation to pay coordinating benefits to the UPS Transfer Group under 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 and at interim periods when a significant event occurs. ASC 715 does not permit anticipation of changes in law when developing a best estimate. At the December 31, 2020 measurement date, we developed our best estimate for the potential obligation to pay coordinating benefits to the UPS Transfer Group using a deterministic cash flow projection that reflected estimated CSPF cash flows and investment earnings, the lack of legislative action having been taken, the expectation of payment of guaranteed benefits by the PBGC and the lack of a benefit reduction plan under MPRA having been filed by the CSPF. As a result, our best estimate at that time of the obligation for coordinating benefits that may have been required to be directly provided by the UPS/IBT Plan to the UPS Transfer Group was $5.5 billion. In March 2021, the American Rescue Plan Act (“ARPA”) was enacted into law. The ARPA contains provisions that allow for qualifying financially distressed multiemployer pension plans to apply for special financial assistance ("SFA") from the PBGC, which will be funded by Treasury. Following approval of an application, a qualifying multiemployer pension plan will receive a lump sum payment to enable it to continue paying unreduced benefits through 2051. The multiemployer plan is not obligated to repay the SFA. The ARPA is intended to prevent both the PBGC and certain financially distressed multiemployer pension plans, including the CSPF, from becoming insolvent through 2051. On July 9, 2021, the PBGC issued interim final regulations implementing the SFA program established under the ARPA. We believe the CSPF will meet the eligibility requirements and will be allowed to apply for SFA beginning April 1, 2022. We expect that the CSPF will apply for SFA during 2022 in order to continue payment of unreduced benefits through 2051. The passage of the ARPA and the expected receipt of SFA by the CSPF currently eliminates our obligation to provide additional coordinating benefits to the UPS Transfer Group through 2051. These matters also triggered a remeasurement under ASC 715. Accordingly, we remeasured the plan assets and pension benefit obligation of the UPS/IBT Plan as of March 31, 2021. The March 31, 2021 interim remeasurement resulted in an actuarial gain of $6.4 billion, reflecting reduction of the liability for coordinating benefits of $5.1 billion and a gain from other updated actuarial assumptions of $1.3 billion. The assumption gain reflects a $1.6 billion benefit from a 72 basis point increase in the discount rate compared to December 31, 2020, offset by $0.3 billion asset loss resulting from actual asset returns approximately 220 basis points below our expected return. As a result, $3.1 billion of the actuarial gain was recorded in accumulated other comprehensive income within the equity section of the consolidated balance sheet. The remaining pre-tax actuarial gain of $3.3 billion ($2.5 billion after tax) that exceeded the corridor (defined as 10% of the greater of the fair value of plan assets and the plan's projected benefit obligation) was recognized as a mark-to-market gain in the statement of consolidated income for the quarter ended March 31, 2021. The future value of this estimate will continue to be influenced by a number of factors, including interpretations of the ARPA, future legislative actions, actuarial assumptions and the ability of the PBGC to sustain its commitments. Actual events may result in a change in our best estimate of the projected benefit obligation. We will continue to assess the impact of these uncertainties in accordance with ASC 715. Collective Bargaining Agreements We have approximately 316,000 employees employed under a national master agreement and various supplemental agreements with local unions affiliated with the IBT. These agreements run through July 31, 2023. We have approximately 3,000 pilots who are employed under a collective bargaining agreement with the Independent Pilots Association ("IPA"). This collective bargaining agreement becomes amendable September 1, 2023. We have approximately 1,600 airline mechanics who are covered by a collective bargaining agreement with Teamsters Local 2727 which becomes amendable November 1, 2023. In addition, approximately 3,400 of our auto and maintenance mechanics who are not employed under agreements with the IBT are employed under collective bargaining agreements with the International Association of Machinists and Aerospace Workers (“IAM”). The collective bargaining agreement with the IAM runs through July 31, 2024.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table indicates the allocation of goodwill as of September 30, 2021 and December 31, 2020 (in millions): U.S. Domestic International Supply Chain Solutions Consolidated December 31, 2020: $ 715 $ 422 $ 2,230 $ 3,367 Acquired — — — — Currency / Other — (12) (23) (35) September 30, 2021: $ 715 $ 410 $ 2,207 $ 3,332 The change in goodwill for both International Package and Supply Chain Solutions 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 September 30, 2021 and December 31, 2020 (in millions): Gross Carrying Accumulated Net Carrying September 30, 2021: Capitalized software $ 4,785 $ (3,197) $ 1,588 Licenses 101 (59) 42 Franchise rights 177 (116) 61 Customer relationships 722 (393) 329 Trade name 200 — 200 Trademarks, patents and other 22 (18) 4 Total Intangible Assets, Net $ 6,007 $ (3,783) $ 2,224 December 31, 2020: Capitalized software $ 4,531 $ (2,962) $ 1,569 Licenses 100 (37) 63 Franchise rights 165 (113) 52 Customer relationships 729 (344) 385 Trade name 200 — 200 Trademarks, patents and other 18 (13) 5 Total Intangible Assets, Net $ 5,743 $ (3,469) $ 2,274 As of September 30, 2021, we had a trade name with a carrying value of $200 million and licenses with a current carrying value of $4 million, which are deemed to be indefinite-lived intangible assets and are included in the table above. Our annual impairment testing of these assets indicated that the fair value of the trade name, which is associated with our truckload brokerage business, remained greater than its carrying value as of our July 1 testing date, although this excess was less than 10 percent. There were no events or changes in circumstances during the third quarter of 2021 that would indicate the carrying amount of our indefinite-lived intangible assets may be impaired as of the date of this report.

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	DEBT AND FINANCING ARRANGEMENTS The carrying value of our outstanding debt obligations as of September 30, 2021 and December 31, 2020 consists of the following (in millions): Principal Carrying Value Maturity 2021 2020 Commercial paper $ — $ — $ 15 Fixed-rate senior notes: 3.125% senior notes — 2021 — 1,507 2.050% senior notes — 2021 — 700 2.450% senior notes 1,000 2022 1,016 1,028 2.350% senior notes 600 2022 600 599 2.500% senior notes 1,000 2023 998 997 2.800% senior notes 500 2024 498 498 2.200% senior notes 400 2024 399 398 3.900% senior notes 1,000 2025 996 995 2.400% senior notes 500 2026 498 498 3.050% senior notes 1,000 2027 994 993 3.400% senior notes 750 2029 746 746 2.500% senior notes 400 2029 397 397 4.450% senior notes 750 2030 743 743 6.200% senior notes 1,500 2038 1,484 1,483 5.200% senior notes 500 2040 494 493 4.875% senior notes 500 2040 491 490 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 492 491 3.750% senior notes 1,150 2047 1,137 1,137 4.250% senior notes 750 2049 743 742 3.400% senior notes 700 2049 688 688 5.300% senior notes 1,250 2050 1,231 1,231 Floating-rate senior notes: Floating-rate senior notes — 2021 — 350 Floating-rate senior notes 400 2022 400 399 Floating-rate senior notes 500 2023 500 499 Floating-rate senior notes 1,039 2049-2067 1,027 1,027 Debentures: 7.620% debentures (1) 276 2030 280 281 Pound Sterling Notes: 5.500% notes 89 2031 88 90 5.125% notes 612 2050 581 586 Euro Senior Notes: 0.375% senior notes 811 2023 808 857 1.625% senior notes 811 2025 807 856 1.000% senior notes 579 2028 576 611 1.500% senior notes 579 2032 575 611 Canadian senior notes: 2.125% senior notes 588 2024 586 583 Finance lease obligations 542 2021-2062 542 342 Facility notes and bonds 320 2029-2045 320 320 Other debt 3 2021-2025 3 5 Total debt $ 22,274 22,106 24,654 Less: current maturities (1,268) (2,623) Long-term debt $ 20,838 $ 22,031 (1) On April 1, 2020, the interest rate on these debentures decreased from 8.375% to 7.620% for the remaining 10 years until maturity. 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. As of September 30, 2021, we had no outstanding balances under our commercial paper programs. Debt Classification We have classified certain floating-rate senior notes that are redeemable at the option of the note holder as long-term liabilities on our consolidated balance sheets, due to our intent and ability to refinance the debt if the put option is exercised. Debt Repayments On January 15, 2021, our 3.125% senior notes with a principal balance of $1.5 billion matured and were repaid in full. On April 1, 2021, our 2.050% fixed-rate senior notes with a principal balance of $700 million and our floating rate senior notes with a principal balance of $350 million matured and were repaid in full. Sources of Credit We maintain two credit agreements with a consortium of banks. The first of these agreements provides revolving credit facilities of $2.0 billion, and expires on December 7, 2021. Amounts outstanding under this agreement bear interest at a periodic fixed rate equal to LIBOR for the applicable interest period and currency denomination, plus a margin of 0.875%. Alternatively, a fluctuating rate of interest equal to the highest of (1) the rate of interest last quoted by The Wall Street Journal as the prime rate in the United States; (2) the Federal Funds effective rate plus 0.50%; or (3) LIBOR for a one-month interest period plus 1.00%, may be used at our discretion. The second agreement provides revolving credit facilities of $2.5 billion, and expires on December 11, 2023. 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) the rate of interest last quoted by The Wall Street Journal as the prime rate in the United States; (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. The applicable margin for advances bearing interest based on LIBOR is a percentage determined by quotations from Markit Group Ltd. for our one-year credit default swap spread subject to a minimum rate of 0.10% and a maximum rate of 0.75% per annum. The rate is interpolated for a period of time from the date of determination of such credit default swap spread in connection with a new interest period until the latest maturity date of the facility then in effect (but not less than a period of one year). 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%). We are also able to request advances under these facilities based on competitive bids for the applicable interest rate. There were no amounts outstanding under these facilities as of September 30, 2021. We expect to renew these credit agreements in the fourth quarter of 2021 on substantially the same terms, except for extending the expiration dates thereof, replacing LIBOR with an alternative reference rate and reducing availability thereunder to $1.0 billion and $2.0 billion, respectively. Debt Covenants Our existing debt instruments and credit facilities subject us to certain financial covenants. As of September 30, 2021, and for all prior periods presented, we have satisfied these 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 September 30, 2021, 10% of net tangible assets was equivalent to $4.5 billion and we had 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 long-term debt with similar terms and maturities, the fair value of long-term debt, including current maturities, was approximately $25.4 and $28.3 billion as of September 30, 2021 and December 31, 2020, respectively. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of all of our debt instruments.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
LEASES	LEASES We 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 finance and operating leases for package centers, airport facilities, warehouses, 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 lease liability. In making this determination, we consider all relevant economic factors that would compel us to exercise or not exercise an option. When our leases contain future payments that are dependent on an index or rate, such as the consumer price index, we initially measure the lease liability and ROU asset using the index or rate at the commencement date. In subsequent periods, lease payments dependent on an index or rate are not remeasured. Rather, changes to payments due to a change in an index or rate are recognized in our statements of consolidated income in the period of the change. 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. For these leases, we use an estimate of our incremental borrowing rate to discount lease payments based on information available at lease commencement. The incremental borrowing rate is derived using multiple inputs including our credit rating, the impact of full collateralization, lease term and denominated currency. The remaining lease terms vary from 1 month to 139 years. Aircraft In addition to the aircraft that we own, we have leases for 320 aircraft. Of these leased aircraft, 22 are classified as finance leases, 18 are classified as operating leases and the remaining 280 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. The majority of our 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, 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, office space and expansion facilities utilized during peak shipping periods. Many of our leases contain charges for common area maintenance or other 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. We also enter into real estate leases that contain lease incentives, such as tenant improvement allowances or move-in allowances, that are received or receivable at lease commencement. These incentives reduce lease payments for classification purposes and reduce the initial ROU asset. When lease incentives are receivable at lease commencement, they also reduce the initial lease liability. From time to time, we enter into 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 determination of the lease term and lease payments, respectively, when the option to 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 their variable nature, these costs are expensed as incurred and are not included in the ROU asset and lease liability. The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease costs $ 183 $ 180 $ 537 $ 527 Finance lease costs: Amortization of assets 24 20 70 58 Interest on lease liabilities 4 4 11 14 Total finance lease costs 28 24 81 72 Variable lease costs 51 58 178 171 Short-term lease costs 305 260 835 716 Total lease costs $ 567 $ 522 $ 1,631 $ 1,486 Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate): September 30, December 31, Operating Leases: Operating lease right-of-use assets $ 3,460 $ 3,073 Current maturities of operating leases $ 552 $ 560 Non-current operating leases 2,938 2,540 Total operating lease liabilities $ 3,490 $ 3,100 Finance Leases: Property, plant and equipment, net $ 1,260 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 268 $ 56 Long-term debt and finance leases 274 286 Total finance lease liabilities $ 542 $ 342 Weighted average remaining lease term (in years): Operating leases 11.8 11.2 Finance leases 5.6 9.3 Weighted average discount rate: Operating leases 1.98 % 2.28 % Finance leases 2.14 % 4.14 % Supplemental cash flow information related to leases is as follows (in millions): Nine Months Ended 2021 2020 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 538 $ 508 Operating cash flows from finance leases 8 11 Financing cash flows from finance leases 48 136 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 953 $ 544 Finance leases 252 50 Maturities of lease liabilities as of September 30, 2021 are as follows (in millions): Finance Leases Operating Leases 2021 $ 166 $ 127 2022 138 629 2023 58 533 2024 35 440 2025 30 392 Thereafter 195 1,889 Total lease payments 622 4,010 Less: Imputed interest (80) (520) Total lease obligations 542 3,490 Less: Current obligations (268) (552) Long-term lease obligations $ 274 $ 2,938 As of September 30, 2021, we had $405 million of additional leases which had not commenced. These leases will commence between 2021 and 2023 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.
LEASES	LEASES We 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 finance and operating leases for package centers, airport facilities, warehouses, 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 lease liability. In making this determination, we consider all relevant economic factors that would compel us to exercise or not exercise an option. When our leases contain future payments that are dependent on an index or rate, such as the consumer price index, we initially measure the lease liability and ROU asset using the index or rate at the commencement date. In subsequent periods, lease payments dependent on an index or rate are not remeasured. Rather, changes to payments due to a change in an index or rate are recognized in our statements of consolidated income in the period of the change. 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. For these leases, we use an estimate of our incremental borrowing rate to discount lease payments based on information available at lease commencement. The incremental borrowing rate is derived using multiple inputs including our credit rating, the impact of full collateralization, lease term and denominated currency. The remaining lease terms vary from 1 month to 139 years. Aircraft In addition to the aircraft that we own, we have leases for 320 aircraft. Of these leased aircraft, 22 are classified as finance leases, 18 are classified as operating leases and the remaining 280 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. The majority of our 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, 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, office space and expansion facilities utilized during peak shipping periods. Many of our leases contain charges for common area maintenance or other 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. We also enter into real estate leases that contain lease incentives, such as tenant improvement allowances or move-in allowances, that are received or receivable at lease commencement. These incentives reduce lease payments for classification purposes and reduce the initial ROU asset. When lease incentives are receivable at lease commencement, they also reduce the initial lease liability. From time to time, we enter into 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 determination of the lease term and lease payments, respectively, when the option to 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 their variable nature, these costs are expensed as incurred and are not included in the ROU asset and lease liability. The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease costs $ 183 $ 180 $ 537 $ 527 Finance lease costs: Amortization of assets 24 20 70 58 Interest on lease liabilities 4 4 11 14 Total finance lease costs 28 24 81 72 Variable lease costs 51 58 178 171 Short-term lease costs 305 260 835 716 Total lease costs $ 567 $ 522 $ 1,631 $ 1,486 Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate): September 30, December 31, Operating Leases: Operating lease right-of-use assets $ 3,460 $ 3,073 Current maturities of operating leases $ 552 $ 560 Non-current operating leases 2,938 2,540 Total operating lease liabilities $ 3,490 $ 3,100 Finance Leases: Property, plant and equipment, net $ 1,260 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 268 $ 56 Long-term debt and finance leases 274 286 Total finance lease liabilities $ 542 $ 342 Weighted average remaining lease term (in years): Operating leases 11.8 11.2 Finance leases 5.6 9.3 Weighted average discount rate: Operating leases 1.98 % 2.28 % Finance leases 2.14 % 4.14 % Supplemental cash flow information related to leases is as follows (in millions): Nine Months Ended 2021 2020 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 538 $ 508 Operating cash flows from finance leases 8 11 Financing cash flows from finance leases 48 136 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 953 $ 544 Finance leases 252 50 Maturities of lease liabilities as of September 30, 2021 are as follows (in millions): Finance Leases Operating Leases 2021 $ 166 $ 127 2022 138 629 2023 58 533 2024 35 440 2025 30 392 Thereafter 195 1,889 Total lease payments 622 4,010 Less: Imputed interest (80) (520) Total lease obligations 542 3,490 Less: Current obligations (268) (552) Long-term lease obligations $ 274 $ 2,938 As of September 30, 2021, we had $405 million of additional leases which had not commenced. These leases will commence between 2021 and 2023 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.

LEGAL PROCEEDINGS AND CONTINGEN

LEGAL PROCEEDINGS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
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. Although there can be no assurance as to the ultimate outcome, we have generally denied, or believe we have meritorious defenses and will deny, liability in all pending matters, including (except as otherwise noted herein) the matters described below, and we intend to vigorously defend each matter. We accrue amounts associated with legal proceedings when and to the extent a loss becomes probable and can be reasonably estimated. The actual costs of resolving legal proceedings may be substantially higher or lower than the amounts accrued on those claims. For matters as to which we are not able to estimate a possible loss or range of losses, we are not able to determine whether any such loss will have a material impact on our operations or financial condition. For these matters, we have described the reasons that we are unable to estimate a possible loss or range of losses. Judicial Proceedings 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. At this time, we do not believe that any loss associated with any such matter will have a material impact on our operations or financial condition. One of these matters, Hughes v. UPS Supply Chain Solutions, Inc. and United Parcel Service, Inc. had previously been certified as a class action in Kentucky state court. In the second quarter of 2019, the court granted our motion for judgment on the pleadings related to the wage-and-hour claims. The plaintiffs appealed this decision, but the appeal has been denied. 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. An immaterial accrual with respect to this matter is included in our consolidated balance sheets. We do not believe that any loss from this matter would have a material impact on our operations or financial condition, although 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. 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 an immaterial fine on UPS. UPS 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. We do not believe that any loss from this matter would have a material impact on our operations or financial condition. We are vigorously defending ourselves and believe that we have a number of meritorious legal defenses. There are also unresolved questions of law and fact that could be important to the ultimate resolution of this matter. We are a party in various other matters that arose in the normal course of business. We do not believe that the eventual resolution of these other matters (either individually or in the aggregate), including any reasonably possible losses in excess of current accruals, will have a material impact on our operations or financial condition.

SHAREOWNERS' EQUITY

SHAREOWNERS' EQUITY	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
SHAREOWNERS' EQUITY	SHAREOWNERS' EQUITY Capital Stock, Additional Paid-In Capital, Retained Earnings and Non-Controlling Minority Interests We are authorized to issue two classes of common stock, which are distinguished from each other primarily by their respective voting rights. Class A shares of UPS 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, as well as trusts and descendants of the Company's founders, and these shares are fully convertible into class B shares at any time. Class B shares are publicly traded on the NYSE under the symbol “UPS”. Class A and B shares both have a $0.01 par value, and as of September 30, 2021, 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 authorized to be issued, with a par value of $0.01 per share. As of September 30, 2021, 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 interests accounts for the three and nine months ended September 30, 2021 and 2020 (in millions, except per share amounts): Three Months Ended September 30: 2021 2020 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 144 $ 2 157 $ 2 Stock award plans (1) — — — Common stock issuances 1 — 1 — Conversions of class A to class B common stock (3) — (8) — Class A shares issued at end of period 141 $ 2 150 $ 2 Class B Common Stock Balance at beginning of period 728 $ 7 706 $ 7 Common stock purchases (3) — — — Conversions of class A to class B common stock 3 — 8 — Class B shares issued at end of period 728 $ 7 714 $ 7 Additional Paid-In Capital Balance at beginning of period $ 1,329 $ 255 Common stock purchases (500) — Stock award plans 176 145 Common stock issuances 83 90 Balance at end of period $ 1,088 $ 490 Retained Earnings Balance at beginning of period $ 12,531 $ 10,032 Net income attributable to common shareowners 2,329 1,957 Dividends ($1.02 and $1.01 per share) (1) (887) (873) Other — (1) Balance at end of period $ 13,973 $ 11,115 Non-Controlling Minority Interest Balance at beginning of period $ 17 $ 13 Change in non-controlling minority interest (1) 1 Balance at end of period $ 16 $ 14 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $27 and $28 million as of September 30, 2021 and 2020, respectively, that were settled in shares of class A common stock. Nine Months Ended September 30: 2021 2020 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 147 $ 2 156 $ 2 Stock award plans 5 — 6 — Common stock issuances 2 — 3 — Conversions of class A to class B common stock (13) — (15) — Class A shares issued at end of period 141 $ 2 150 $ 2 Class B Common Stock Balance at beginning of period 718 $ 7 701 $ 7 Common stock purchases (3) — (2) — Conversions of class A to class B common stock 13 — 15 — Class B shares issued at end of period 728 $ 7 714 $ 7 Additional Paid-In Capital Balance at beginning of period $ 865 $ 150 Common stock purchases (500) (217) Stock award plans 399 215 Common stock issuances 324 342 Balance at end of period $ 1,088 $ 490 Retained Earnings Balance at beginning of period $ 6,896 $ 9,105 Net income attributable to controlling interests 9,797 4,690 Dividends ($3.06 and $3.03 per share) (1) (2,718) (2,679) Other (2) (1) Balance at end of period $ 13,973 $ 11,115 Non-Controlling Interests Balance at beginning of period $ 12 $ 16 Change in non-controlling minority interest 4 (2) Balance at end of period $ 16 $ 14 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $140 and $151 million as of September 30, 2021 and 2020 respectively, that were settled in shares of class A common stock. In May 2016, the Board of Directors approved a share repurchase authorization for $8.0 billion of class A and class B common stock. We did not repurchase any shares under this program during the three months ended September 30, 2020. We repurchased 2.1 million shares of class A and class B common stock for $217 million during the nine months ended September 30, 2020 ($224 million in repurchases are reported on the statements of consolidated cash flows due to the timing of settlements). We did not repurchase any shares under this program during the three and nine months ended September 30, 2021. In August 2021, the Board of Directors terminated this authorization and approved a new share repurchase authorization for $5.0 billion. We repurchased 2.6 million shares of class B common stock for $500 million under an accelerated stock repurchase transaction during the three and nine months ended September 30, 2021. As of September 30, 2021, we had $4.5 billion of our share repurchase authorization available. Share repurchases may be in the form of accelerated share repurchase programs, open market purchases or other methods we deem appropriate. The timing of share repurchases will depend upon market conditions. Unless terminated earlier by the Board of Directors, our program will expire when we have purchased all shares authorized for repurchase under the program. Movements in additional paid-in capital in respect of stock award plans comprise accruals for unvested awards, offset by adjustments for awards that vest during the period. Accumulated Other Comprehensive Income (Loss) We recognize activity in AOCI for foreign currency translation adjustments, unrealized holding gains and losses on available-for-sale securities, unrealized gains and losses from derivatives that qualify as hedges of cash flows and unrecognized pension and postretirement benefit costs. The activity in AOCI for the three and nine months ended September 30, 2021 and 2020 was as follows (in millions): Three Months Ended September 30: 2021 2020 Foreign Currency Translation Gain (Loss), Net of Tax: Balance at beginning of period $ (1,015) $ (1,209) Translation adjustment (net of tax effect of $8 and $(14)) (106) 65 Balance at end of period (1,121) (1,144) Unrealized Gain (Loss) on Marketable Securities, Net of Tax: Balance at beginning of period 1 9 Current period changes in fair value (net of tax effect of $0 and $0) — (1) Reclassification to earnings (net of tax effect of $0 and $0) — (1) Balance at end of period 1 7 Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax: Balance at beginning of period (155) 215 Current period changes in fair value (net of tax effect of $40 and $(53)) 126 (168) Reclassification to earnings (net of tax effect of $(5) and $(8)) (14) (27) Balance at end of period (43) 20 Unrecognized Pension and Postretirement Benefit Costs, Net of Tax: Balance at beginning of period (1,895) (4,948) Reclassification to earnings (net of tax effect of $9 and $13) 29 43 Balance at end of period (1,866) (4,905) Accumulated other comprehensive income (loss) at end of period $ (3,029) $ (6,022) Nine Months Ended September 30: 2021 2020 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (981) $ (1,078) Translation adjustment (net of tax effect of $37 and $(15)) (140) (66) Balance at end of period (1,121) (1,144) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period 6 4 Current period changes in fair value (net of tax effect of $0 and $1) (1) 6 Reclassification to earnings (net of tax effect of $0 and $(1)) (4) (3) Balance at end of period 1 7 Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period (223) 112 Current period changes in fair value (net of tax effect of $65 and $10) 207 33 Reclassification to earnings (net of tax effect of $(9) and $(39)) (27) (125) Balance at end of period (43) 20 Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (5,915) (5,035) Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $2,039 and $0) 6,470 — Reclassification to earnings (net of tax effect of $(763) and $40) (2,421) 130 Balance at end of period (1,866) (4,905) Accumulated other comprehensive income (loss) at end of period $ (3,029) $ (6,022) Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three and nine months ended September 30, 2021 and 2020 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement Three Months Ended September 30: 2021 2020 Unrealized Gain (Loss) on Marketable Securities: Realized gain (loss) on sale of securities $ — $ 1 Investment income and other Income tax (expense) benefit — — Income tax expense Impact on net income — 1 Net income Unrealized Gain (Loss) on Cash Flow Hedges: Interest rate contracts (3) (3) Interest expense Foreign currency exchange contracts 22 38 Revenue Income tax (expense) benefit (5) (8) Income tax expense Impact on net income 14 27 Net income Unrecognized Pension and Postretirement Benefit Costs: Prior service costs (38) (56) Investment income and other Prior service credit for divested business — — Other expenses Plan amendments for divested business — — Other expenses Income tax (expense) benefit 9 13 Income tax expense Impact on net income (29) (43) Net income Total amount reclassified for the period $ (15) $ (15) Net income Amount Reclassified from AOCI Affected Line Item in the Income Statement Nine Months Ended September 30: 2021 2020 Unrealized gain (loss) on marketable securities: Realized gain (loss) on sale of securities $ 4 $ 4 Investment income and other Income tax (expense) benefit — (1) Income tax expense Impact on net income 4 3 Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (8) (9) Interest expense Foreign currency exchange contracts 44 173 Revenue Income tax (expense) benefit (9) (39) Income tax expense Impact on net income 27 125 Net income Unrecognized pension and postretirement benefit costs: Prior service costs (109) (170) Investment income and other Prior service credit for divested business 69 — Other expenses Plan amendments for divested business (66) — Other expenses Remeasurement of benefit obligation 3,290 — Investment income and other Income tax (expense) benefit (763) 40 Income tax expense Impact on net income 2,421 (130) Net income Total amount reclassified for the period $ 2,452 $ (2) Net income Deferred Compensation Obligations and Treasury Stock We maintain a deferred compensation plan whereby certain employees were previously able to elect to defer the gains on stock option exercises by deferring the shares received upon exercise into a rabbi trust. The shares held in this trust are classified as treasury stock, and the liability to participating employees is classified as “Deferred compensation obligations” in the shareowners’ equity section of the consolidated balance sheets. The number of shares needed to settle the liability for deferred compensation obligations is included in the denominator in both the basic and diluted earnings per share calculations. Employees are generally no longer able to defer the gains from stock options exercised subsequent to December 31, 2004. Activity in the deferred compensation program for the three and nine months ended September 30, 2021 and 2020 was as follows (in millions): 2021 2020 Three Months Ended September 30: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 16 $ 20 Reinvested dividends — — Benefit payments — — Balance at end of period $ 16 $ 20 Treasury Stock: Balance at beginning of period — $ (16) — $ (20) Reinvested dividends — — — — Benefit payments — — — — Balance at end of period — $ (16) — $ (20) 2021 2020 Nine Months Ended September 30: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 20 $ 26 Reinvested dividends 1 1 Benefit payments (5) (7) Balance at end of period $ 16 $ 20 Treasury Stock: Balance at beginning of period — $ (20) — $ (26) Reinvested dividends — (1) — (1) Benefit payments — 5 — 7 Balance at end of period — $ (16) — $ (20)

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We report our operations in three segments: U.S. Domestic Package, International Package and Supply Chain Solutions. 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. Supply Chain Solutions comprises the results of non-reportable operating segments that do not meet the quantitative and qualitative criteria of a reportable segment as defined under ASC Topic 280 – Segment Reporting. U.S. Domestic Package U.S. 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 our operations in Europe, Asia, Americas and ISMEA (Indian Subcontinent, Middle East and Africa). Supply Chain Solutions Supply Chain Solutions includes Forwarding, Logistics, Coyote, Marken, UPS Mail Innovations and other aggregated business units. Our Forwarding, Logistics and UPS Mail Innovations 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. Coyote offers truckload brokerage services primarily in the United States. Marken is a global provider of supply chain solutions to the healthcare and life sciences industry, specializing in clinical trials logistics. Other aggregated business units within this segment include The UPS Store and UPS Capital. This segment also included UPS Freight prior to its divestiture, details of which are set out in note 6. 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 tax expense. Certain expenses are allocated between the segments using activity-based costing methods as described in the audited, consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020, and in the "Results of Operations - Segment Review" section of Management's Discussion and Analysis included in this report. Results of operations for the three and nine months ended September 30, 2021 and 2020 are as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue: U.S. Domestic Package $ 14,208 $ 13,225 $ 42,620 $ 37,755 International Package 4,720 4,087 14,144 11,175 Supply Chain Solutions 4,256 3,926 12,752 10,802 Consolidated revenue $ 23,184 $ 21,238 $ 69,516 $ 59,732 Operating Profit: U.S. Domestic Package $ 1,407 $ 1,098 $ 4,333 $ 2,644 International Package 1,051 966 3,320 2,288 Supply Chain Solutions 438 299 1,266 715 Consolidated operating profit $ 2,896 $ 2,363 $ 8,919 $ 5,647

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 (in millions, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net income attributable to common shareowners $ 2,329 $ 1,957 $ 9,797 $ 4,690 Denominator: Weighted average shares 870 864 869 861 Vested portion of restricted units 5 4 5 5 Denominator for basic earnings per share 875 868 874 866 Effect of dilutive securities: Restricted units 3 4 3 4 Stock options 1 — 1 — Denominator for diluted earnings per share 879 872 878 870 Basic earnings per share $ 2.66 $ 2.25 $ 11.21 $ 5.42 Diluted earnings per share $ 2.65 $ 2.24 $ 11.16 $ 5.39 There were no antidilutive shares for the three months ended September 30, 2021 and 2020. Diluted earnings per share for the nine months ended September 30, 2021 and 2020 excluded the effect of 0.1 and 0.8 million shares of common stock, respectively, that may be issued upon the exercise of employee stock options because such effect would have been antidilutive.

DERIVATIVE INSTRUMENTS AND RISK

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2021
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 and we actively monitor these exposures. To manage the impact of these exposures, we may 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 exchange 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 counterparties to prevent concentrations of credit risk with any single counterparty. We have agreements with all of our active counterparties (covering all 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. As of September 30, 2021 and December 31, 2020, we held cash collateral of $139 and $146 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. As of September 30, 2021 and December 31, 2020, we were required to post $15 and $158 million, respectively, of cash collateral 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. As of September 30, 2021, all of our instruments were covered by the zero threshold bilateral collateral provisions. As of December 31, 2020, there were no instruments in a net liability position that were not covered by the zero threshold bilateral collateral provisions. Types of Hedges Commodity Risk Management Currently, the fuel surcharges that we apply to our domestic and international package and less-than-truckload ("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. 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 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 (expense) 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 foreign currency translation adjustment accounts remain until the sale or substantially complete liquidation of the foreign entity, upon which they are recognized as a component of Investment income (expense) 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. Interest rate swaps allow us to maintain a target range of floating-rate debt within our capital structure. The notional amount, interest payment date and maturity date of the swaps match the terms of the associated debt being hedged. 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 fair value hedges 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 these 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 September 30, 2021 and December 31, 2020, the notional amounts of our outstanding derivative positions were as follows (in millions): September 30, 2021 December 31, 2020 Currency hedges: Euro EUR 4,130 EUR 4,197 British Pound Sterling GBP 1,391 GBP 1,400 Canadian Dollar CAD 1,623 CAD 1,576 Hong Kong Dollar HKD 4,103 HKD 3,717 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 1,000 USD 3,250 Floating to Fixed Interest Rate Swaps USD 28 USD 778 As of September 30, 2021 and December 31, 2020, we had no outstanding commodity hedge positions. Balance Sheet Recognition 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. 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 Asset Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 94 $ 56 $ 76 $ 45 Interest rate contracts Other current assets Level 2 — 2 — 2 Foreign currency exchange contracts Other non-current assets Level 2 102 35 66 4 Interest rate contracts Other non-current assets Level 2 17 29 15 26 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 1 4 1 4 Total Asset Derivatives $ 214 $ 126 $ 158 $ 81 Fair Value Hierarchy Level Gross Amounts Presented in Net Amounts if Right of Liability Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 19 $ 34 $ 1 $ 23 Foreign currency exchange contracts Other non-current liabilities Level 2 36 142 — 111 Interest rate contracts Other non-current liabilities Level 2 11 13 9 10 Derivatives not designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 — 2 — 2 Interest rate contracts Other current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 66 $ 192 $ 10 $ 147 Our foreign currency 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. As of September 30, 2021 and December 31, 2020 we did not have any derivatives that were classified as Level 1 (valued using quoted prices in active markets for identical assets) or Level 3 (valued using significant unobservable inputs). 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 September 30, 2021 and December 31, 2020 (in millions): Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount Cumulative Amount Carrying Amount Cumulative Amount September 30, 2021 September 30, 2021 December 31, 2020 December 31, 2020 Long-term debt and finance leases $ 1,296 $ 22 $ 2,816 $ 42 The cumulative amount of fair value hedging losses remaining for any hedged assets and liabilities for which hedge accounting has been discontinued as of September 30, 2021 is $6 million. These amounts will be recognized over the next 9 years. Income Statement and AOCI Recognition The following table indicates the amount of gains and (losses) that have been recognized in the statements of consolidated income for 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 and nine months ended September 30, 2021 and 2020 (in millions): Three Months Ended September 30, Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2021 2020 Revenue Interest Expense Investment Income and Other Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 4 $ — $ — $ 13 $ — Derivatives designated as hedging instruments — (4) — — (13) — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (3) — — (3) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 22 — — 38 — — 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 $ 22 $ (3) $ — $ 38 $ (3) $ — Nine Months Ended September 30, 2021 2020 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 14 $ — $ — $ (21) $ — Derivatives designated as hedging instruments — (14) — — 21 — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (8) — — (9) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 44 — — 173 — — 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 $ 44 $ (8) $ — $ 173 $ (9) $ — The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the three and nine months ended September 30, 2021 and 2020 for those derivatives designated as cash flow hedges (in millions): Three Months Ended September 30: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2021 2020 Interest rate contracts $ 1 $ (3) Foreign currency exchange contracts 165 (218) Total $ 166 $ (221) Nine Months Ended September 30: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2021 2020 Interest rate contracts $ 1 $ (6) Foreign currency exchange contracts 271 49 Total $ 272 $ 43 As of September 30, 2021, there were $62 million of pre-tax gains related to cash flow hedges deferred in AOCI that are expected to be reclassified to income over the 12 month period ending September 30, 2022. 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 11 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 and nine months ended September 30, 2021 and 2020 for those instruments designated as net investment hedges (in millions): Three Months Ended September 30: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2021 2020 Foreign denominated debt $ 90 $ (139) Total $ 90 $ (139) Nine Months Ended September 30: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2021 2020 Foreign denominated debt $ 167 $ (92) Total $ 167 $ (92) Additionally, we maintain interest rate swaps and foreign currency exchange forward contracts that are not designated as hedges. The interest rate swap contracts are intended to provide an economic hedge of portions of our outstanding debt. The foreign currency exchange forward contracts are intended to provide an economic offset to foreign currency remeasurement and settlement risk for certain assets and liabilities in our consolidated balance sheets. We also periodically terminate interest rate swaps and foreign currency exchange forward contracts 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 currency 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 and foreign currency exchange forward contracts not designated as hedges for the three and nine months ended September 30, 2021 and 2020 (in millions): Derivative Instruments Not Designated in Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income 2021 2020 Three Months Ended September 30: Interest rate swap contracts Interest expense $ — $ (2) Foreign currency exchange contracts Investment income and other (21) 34 Total $ (21) $ 32 Nine Months Ended September 30: Interest rate swap contracts Interest expense $ — $ (6) Foreign currency exchange contracts Investment income and other (24) (15) Total $ (24) $ (21)

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate decreased to 22.2% in the third quarter of 2021 from 22.5% in the same period of 2020 (22.4% year to date compared to 23.5% in 2020). The recognition in income tax of excess tax benefits related to share-based compensation reduced our effective rate by 0.6% year to date compared to 0.2% in the same period of 2020 (there was no significant impact in the third quarter of 2021 or 2020). Changes in the proportion of our taxable income in certain jurisdictions relative to total pre-tax income favorably impacted our effective tax rate in the third quarter relative to the prior year. As discussed in our Annual Report on Form 10-K for the year ended December 31, 2020, 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 statutes of limitations or other unforeseen circumstances. In the first quarter, we recognized an income tax expense of $788 million related to pre-tax mark-to-market income of $3.3 billion on certain of our defined benefit pension plans. This income tax expense was generated at a higher average tax rate than the U.S. federal statutory tax rate because it included the effect of U.S. state and local taxes. As discussed in note 18, we recognized pre-tax transformation strategy costs of $74 million in the third quarter of 2021 compared to $44 million in the same period of 2020 ($308 million year to date compared to $201 million in the prior year). As a result, we recorded an income tax benefit of $20 million in the third quarter of 2021 compared to $11 million in the same period of 2020 ($76 million year to date compared to $50 million in the prior year period). This year-to-date benefit was generated at a higher average tax rate than the U.S. federal statutory tax rate primarily due to the effect of U.S. state and local taxes and foreign taxes. As discussed in note 6, in the second quarter of 2021 we completed the divestiture of UPS Freight. We recorded a pre-tax gain of $35 million year to date (none in the third quarter) related to the transaction. As a result, we recorded additional income tax expense of $8 million year to date (none in the third quarter). This income tax expense was generated at a higher average tax rate than the U.S. federal statutory tax rate due to the effect of U.S. state and local taxes.

TRANSFORMATION STRATEGY (Notes)

TRANSFORMATION STRATEGY (Notes)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
TRANSFORMATION STRATEGY	TRANSFORMATION STRATEGY COSTS In 2018, we launched a multi-year, enterprise-wide transformation strategy impacting our organization. The program includes investments, as well as changes in processes and technology, that impact global direct and indirect operating costs. The table below presents the transformation strategy costs for the three and nine months ended September 30, 2021 and 2020 (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Transformation Strategy Costs: Compensation and benefits $ 33 $ 18 $ 164 $ 111 Total other expenses 41 26 144 90 Total Transformation Strategy Costs $ 74 $ 44 $ 308 $ 201 Income Tax Benefit from Transformation Strategy Costs (20) (11) (76) (50) After Tax Transformation Strategy Costs $ 54 $ 33 $ 232 $ 151

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSWe completed the previously-announced acquisition of Roadie, Inc. a technology platform that enables local same-day delivery with operations throughout the United States, in October 2021. The acquisition is expected to provide new growth opportunities and efficient and scalable same-day local delivery services nationwide. Roadie will continue to operate as an independent entity with the same name and existing network. The operating results of Roadie will be included in our Supply Chain Solutions results for reporting purposes beginning in the fourth quarter of 2021. The acquisition was not material to our consolidated financial position or results of operations.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying interim unaudited, consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. These interim unaudited, consolidated financial statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly our financial position as of September 30, 2021, our results of operations for the three and nine months ended September 30, 2021 and 2020 and our cash flows for the nine months ended September 30, 2021 and 2020. The results reported in these interim unaudited, consolidated financial statements should not be regarded as 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, 2020.
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsThe carrying amounts of our cash and cash equivalents, accounts receivable, finance receivables and accounts payable approximate fair value as of September 30, 2021 and December 31, 2020. The fair values of our investment securities are disclosed in note 5, our recognized multiemployer pension withdrawal liabilities in note 8, our short- and long-term debt in note 10 and our derivative instruments in note 16. 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.
Accounting Estimates	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 these financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Although our estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic. The severity, magnitude and duration of the pandemic, and the resulting economic consequences, remain uncertain, rapidly changing and difficult to predict. As a result, our accounting estimates and assumptions may change significantly over time. For interim unaudited, consolidated financial statement purposes, we provide for accruals under our various company-sponsored employee benefit plans for each three month period based on one quarter of the estimated annual expense.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848), to temporarily ease the potential burden in accounting for reference rate reform. The standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform. The guidance was effective upon issuance and generally can be applied through December 31, 2022. While there has been no material impact so far to our financial position, results of operations or cash flows from reference rate reform, we continue to monitor our contracts and transactions for potential application of this ASU. For accounting standards adopted in the period ended September 30, 2020, refer to note 1 to our audited, consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020. Other accounting pronouncements adopted during the periods covered by the unaudited, 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 Accounting pronouncements issued before, but not effective until after, September 30, 2021, are not expected to have a material impact on our consolidated financial position, results of operations or cash flows.
Investment Impairments	Investment Impairments We have concluded that no material impairment losses existed as of September 30, 2021. In making this determination, we considered the financial condition and prospects of each issuer, the magnitude of the losses compared with the 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.

Cash and Cash Equivalents (Poli

Cash and Cash Equivalents (Policies)	9 Months Ended
	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Investment Impairments	Investment Impairments We have concluded that no material impairment losses existed as of September 30, 2021. In making this determination, we considered the financial condition and prospects of each issuer, the magnitude of the losses compared with the 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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue: Next Day Air $ 2,415 $ 2,098 $ 7,202 $ 6,137 Deferred 1,304 1,378 3,877 3,873 Ground 10,489 9,749 31,541 27,745 U.S. Domestic Package 14,208 13,225 42,620 37,755 Domestic 852 776 2,716 2,183 Export 3,641 3,153 10,808 8,538 Cargo & Other 227 158 620 454 International Package 4,720 4,087 14,144 11,175 Forwarding 2,625 1,753 7,006 4,897 Logistics 1,158 1,040 3,424 2,862 Freight — 870 1,064 2,360 Other 473 263 1,258 683 Supply Chain Solutions 4,256 3,926 12,752 10,802 Consolidated revenue $ 23,184 $ 21,238 $ 69,516 $ 59,732

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions	The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2021 and 2020 are as follows: 2021 2020 Risk-free interest rate 0.19 % 0.15 % Expected volatility 30.70 % 27.53 % Weighted-average fair value of RPUs granted $ 167.31 $ 92.77 Share payout 102.40 % 101.00 % The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2021 and 2020 are as follows: 2021 2020 Expected dividend yield 3.31 % 3.51 % Risk-free interest rate 0.84 % 1.26 % Expected life (in years) 7.5 7.5 Expected volatility 23.15 % 19.25 % Weighted-average fair value of options granted $ 23.71 $ 11.74

CASH AND INVESTMENTS (Tables)

CASH AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Marketable Securities [Abstract]
Available-for-sale Securities	The following is a summary of marketable securities classified as trading and available-for-sale as of September 30, 2021 and December 31, 2020 (in millions): Cost Unrealized Unrealized Estimated September 30, 2021: Current trading marketable securities: Equity securities $ 2 $ — $ — $ 2 Total trading marketable securities 2 — — 2 Current available-for-sale securities: U.S. government and agency debt securities 222 1 — 223 Mortgage and asset-backed debt securities — — — — Corporate debt securities 113 2 — 115 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 343 3 — 346 Total current marketable securities $ 345 $ 3 $ — $ 348 Cost Unrealized Unrealized Estimated December 31, 2020: Current trading marketable securities: Equity securities $ 2 $ — $ — $ 2 Total trading marketable securities 2 — — 2 Current available-for-sale securities: U.S. government and agency debt securities 181 3 — 184 Mortgage and asset-backed debt securities 30 1 — 31 Corporate debt securities 174 4 — 178 U.S. state and local municipal debt securities — — — — Non-U.S. government debt securities 11 — — 11 Total available-for-sale marketable securities 396 8 — 404 Total current marketable securities $ 398 $ 8 $ — $ 406
Investments Classified by Contractual Maturity Date	The amortized cost and estimated fair value of marketable securities as of September 30, 2021 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 with or without prepayment penalties. Cost Estimated Due in one year or less $ 35 $ 35 Due after one year through three years 306 309 Due after three years through five years 2 2 Due after five years — — 343 346 Equity securities 2 2 $ 345 $ 348
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): September 30, December 31, 2020 September 30, Cash and cash equivalents $ 10,212 $ 5,910 $ 8,839 Restricted cash — — 1 Total cash, cash equivalents and restricted cash $ 10,212 $ 5,910 $ 8,840
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 September 30, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices Significant Other Significant Balance September 30, 2021: Marketable Securities: U.S. government and agency debt securities $ 217 $ 6 $ — $ 223 Mortgage and asset-backed debt securities — — — — Corporate debt securities — 115 — 115 U.S. state and local municipal debt securities — 5 — 5 Equity securities — 2 — 2 Non-U.S. government debt securities — 3 — 3 Total marketable securities 217 131 — 348 Other non-current investments 23 — — 23 Total $ 240 $ 131 $ — $ 371 December 31, 2020: Marketable Securities: U.S. government and agency debt securities $ 184 $ — $ — $ 184 Mortgage and asset-backed debt securities — 31 — 31 Corporate debt securities — 178 — 178 U.S. state and local municipal debt securities — — — — Equity securities — 2 — 2 Non-U.S. government debt securities — 11 — 11 Total marketable securities 184 222 — 406 Other non-current investments 23 — — 23 Total $ 207 $ 222 $ — $ 429
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	There were no transfers of investments between Level 1 and Level 2 during the nine months ended September 30, 2021 or 2020.

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Carrying Value of Assets and Liabilities Held for Sale	The following table summarizes the carrying values of the assets and liabilities classified as held for sale in our consolidated balance sheets as of September 30, 2021 and December 31, 2020 (in millions): 2021 2020 Assets: Accounts receivable, net $ — $ 263 Other current assets — 62 Property, plant and equipment, net — 940 Other non-current assets — 124 Total assets — 1,389 Valuation allowance — (192) Total assets held for sale $ — $ 1,197 Liabilities: Accounts payable $ — $ 50 Other current liabilities — 112 Other non-current liabilities — 185 Total liabilities to be disposed of $ — $ 347 Net assets held for sale $ — $ 850

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment as of September 30, 2021 and December 31, 2020 consisted of the following (in millions): 2021 2020 Vehicles $ 9,990 $ 9,786 Aircraft 21,497 20,549 Land 2,049 2,052 Buildings 5,844 5,425 Building and leasehold improvements 4,987 4,921 Plant equipment 15,315 14,684 Technology equipment 2,788 2,626 Construction-in-progress 1,507 2,048 63,977 62,091 Less: Accumulated depreciation and amortization (31,118) (29,837) Property, Plant and Equipment, Net $ 32,859 $ 32,254

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	Information about the net periodic benefit (income) cost for our company-sponsored pension and postretirement benefit plans for the three and nine months ended September 30, 2021 and 2020 is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2021 2020 2021 2020 2021 2020 Three Months Ended September 30: Service cost $ 442 $ 463 $ 7 $ 7 $ 19 $ 17 Interest cost 490 495 21 23 9 10 Expected return on assets (825) (887) (1) (2) (17) (22) Amortization of prior service cost 36 55 2 1 — — Net periodic benefit cost $ 143 $ 126 $ 29 $ 29 $ 11 $ 5 U.S. Pension Benefits U.S. Postretirement International 2021 2020 2021 2020 2021 2020 Nine Months Ended September 30: Service cost $ 1,456 $ 1,390 $ 21 $ 22 $ 57 $ 50 Interest cost 1,459 1,483 60 68 29 30 Expected return on assets (2,502) (2,662) (4) (6) (51) (64) Amortization of prior service cost 103 164 5 5 1 1 Actuarial (gain) loss (3,290) — — — — — Net periodic benefit (income) cost $ (2,774) $ 375 $ 82 $ 89 $ 36 $ 17

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table indicates the allocation of goodwill as of September 30, 2021 and December 31, 2020 (in millions): U.S. Domestic International Supply Chain Solutions Consolidated December 31, 2020: $ 715 $ 422 $ 2,230 $ 3,367 Acquired — — — — Currency / Other — (12) (23) (35) September 30, 2021: $ 715 $ 410 $ 2,207 $ 3,332
Schedule of Intangible Assets (Excluding Goodwill)	The following is a summary of intangible assets as of September 30, 2021 and December 31, 2020 (in millions): Gross Carrying Accumulated Net Carrying September 30, 2021: Capitalized software $ 4,785 $ (3,197) $ 1,588 Licenses 101 (59) 42 Franchise rights 177 (116) 61 Customer relationships 722 (393) 329 Trade name 200 — 200 Trademarks, patents and other 22 (18) 4 Total Intangible Assets, Net $ 6,007 $ (3,783) $ 2,224 December 31, 2020: Capitalized software $ 4,531 $ (2,962) $ 1,569 Licenses 100 (37) 63 Franchise rights 165 (113) 52 Customer relationships 729 (344) 385 Trade name 200 — 200 Trademarks, patents and other 18 (13) 5 Total Intangible Assets, Net $ 5,743 $ (3,469) $ 2,274

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The carrying value of our outstanding debt obligations as of September 30, 2021 and December 31, 2020 consists of the following (in millions): Principal Carrying Value Maturity 2021 2020 Commercial paper $ — $ — $ 15 Fixed-rate senior notes: 3.125% senior notes — 2021 — 1,507 2.050% senior notes — 2021 — 700 2.450% senior notes 1,000 2022 1,016 1,028 2.350% senior notes 600 2022 600 599 2.500% senior notes 1,000 2023 998 997 2.800% senior notes 500 2024 498 498 2.200% senior notes 400 2024 399 398 3.900% senior notes 1,000 2025 996 995 2.400% senior notes 500 2026 498 498 3.050% senior notes 1,000 2027 994 993 3.400% senior notes 750 2029 746 746 2.500% senior notes 400 2029 397 397 4.450% senior notes 750 2030 743 743 6.200% senior notes 1,500 2038 1,484 1,483 5.200% senior notes 500 2040 494 493 4.875% senior notes 500 2040 491 490 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 492 491 3.750% senior notes 1,150 2047 1,137 1,137 4.250% senior notes 750 2049 743 742 3.400% senior notes 700 2049 688 688 5.300% senior notes 1,250 2050 1,231 1,231 Floating-rate senior notes: Floating-rate senior notes — 2021 — 350 Floating-rate senior notes 400 2022 400 399 Floating-rate senior notes 500 2023 500 499 Floating-rate senior notes 1,039 2049-2067 1,027 1,027 Debentures: 7.620% debentures (1) 276 2030 280 281 Pound Sterling Notes: 5.500% notes 89 2031 88 90 5.125% notes 612 2050 581 586 Euro Senior Notes: 0.375% senior notes 811 2023 808 857 1.625% senior notes 811 2025 807 856 1.000% senior notes 579 2028 576 611 1.500% senior notes 579 2032 575 611 Canadian senior notes: 2.125% senior notes 588 2024 586 583 Finance lease obligations 542 2021-2062 542 342 Facility notes and bonds 320 2029-2045 320 320 Other debt 3 2021-2025 3 5 Total debt $ 22,274 22,106 24,654 Less: current maturities (1,268) (2,623) Long-term debt $ 20,838 $ 22,031 (1) On April 1, 2020, the interest rate on these debentures decreased from 8.375% to 7.620% for the remaining 10 years until maturity.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Lease Cost	The components of lease expense for the three and nine months ended September 30, 2021 and 2020 were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Operating lease costs $ 183 $ 180 $ 537 $ 527 Finance lease costs: Amortization of assets 24 20 70 58 Interest on lease liabilities 4 4 11 14 Total finance lease costs 28 24 81 72 Variable lease costs 51 58 178 171 Short-term lease costs 305 260 835 716 Total lease costs $ 567 $ 522 $ 1,631 $ 1,486 Supplemental cash flow information related to leases is as follows (in millions): Nine Months Ended 2021 2020 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 538 $ 508 Operating cash flows from finance leases 8 11 Financing cash flows from finance leases 48 136 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 953 $ 544 Finance leases 252 50
Supplemental Balance Sheet	Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate): September 30, December 31, Operating Leases: Operating lease right-of-use assets $ 3,460 $ 3,073 Current maturities of operating leases $ 552 $ 560 Non-current operating leases 2,938 2,540 Total operating lease liabilities $ 3,490 $ 3,100 Finance Leases: Property, plant and equipment, net $ 1,260 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 268 $ 56 Long-term debt and finance leases 274 286 Total finance lease liabilities $ 542 $ 342 Weighted average remaining lease term (in years): Operating leases 11.8 11.2 Finance leases 5.6 9.3 Weighted average discount rate: Operating leases 1.98 % 2.28 % Finance leases 2.14 % 4.14 %
Operating Leases Maturity Schedule	Maturities of lease liabilities as of September 30, 2021 are as follows (in millions): Finance Leases Operating Leases 2021 $ 166 $ 127 2022 138 629 2023 58 533 2024 35 440 2025 30 392 Thereafter 195 1,889 Total lease payments 622 4,010 Less: Imputed interest (80) (520) Total lease obligations 542 3,490 Less: Current obligations (268) (552) Long-term lease obligations $ 274 $ 2,938
Finance Leases Maturity Schedule	Maturities of lease liabilities as of September 30, 2021 are as follows (in millions): Finance Leases Operating Leases 2021 $ 166 $ 127 2022 138 629 2023 58 533 2024 35 440 2025 30 392 Thereafter 195 1,889 Total lease payments 622 4,010 Less: Imputed interest (80) (520) Total lease obligations 542 3,490 Less: Current obligations (268) (552) Long-term lease obligations $ 274 $ 2,938

SHAREOWNERS' EQUITY (Tables)

SHAREOWNERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Three Months Ended September 30: 2021 2020 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 144 $ 2 157 $ 2 Stock award plans (1) — — — Common stock issuances 1 — 1 — Conversions of class A to class B common stock (3) — (8) — Class A shares issued at end of period 141 $ 2 150 $ 2 Class B Common Stock Balance at beginning of period 728 $ 7 706 $ 7 Common stock purchases (3) — — — Conversions of class A to class B common stock 3 — 8 — Class B shares issued at end of period 728 $ 7 714 $ 7 Additional Paid-In Capital Balance at beginning of period $ 1,329 $ 255 Common stock purchases (500) — Stock award plans 176 145 Common stock issuances 83 90 Balance at end of period $ 1,088 $ 490 Retained Earnings Balance at beginning of period $ 12,531 $ 10,032 Net income attributable to common shareowners 2,329 1,957 Dividends ($1.02 and $1.01 per share) (1) (887) (873) Other — (1) Balance at end of period $ 13,973 $ 11,115 Non-Controlling Minority Interest Balance at beginning of period $ 17 $ 13 Change in non-controlling minority interest (1) 1 Balance at end of period $ 16 $ 14 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $27 and $28 million as of September 30, 2021 and 2020, respectively, that were settled in shares of class A common stock. Nine Months Ended September 30: 2021 2020 Shares Dollars Shares Dollars Class A Common Stock Balance at beginning of period 147 $ 2 156 $ 2 Stock award plans 5 — 6 — Common stock issuances 2 — 3 — Conversions of class A to class B common stock (13) — (15) — Class A shares issued at end of period 141 $ 2 150 $ 2 Class B Common Stock Balance at beginning of period 718 $ 7 701 $ 7 Common stock purchases (3) — (2) — Conversions of class A to class B common stock 13 — 15 — Class B shares issued at end of period 728 $ 7 714 $ 7 Additional Paid-In Capital Balance at beginning of period $ 865 $ 150 Common stock purchases (500) (217) Stock award plans 399 215 Common stock issuances 324 342 Balance at end of period $ 1,088 $ 490 Retained Earnings Balance at beginning of period $ 6,896 $ 9,105 Net income attributable to controlling interests 9,797 4,690 Dividends ($3.06 and $3.03 per share) (1) (2,718) (2,679) Other (2) (1) Balance at end of period $ 13,973 $ 11,115 Non-Controlling Interests Balance at beginning of period $ 12 $ 16 Change in non-controlling minority interest 4 (2) Balance at end of period $ 16 $ 14 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $140 and $151 million as of September 30, 2021 and 2020 respectively, that were settled in shares of class A common stock.
Schedule of Accumulated Other Comprehensive Income (Loss)	The activity in AOCI for the three and nine months ended September 30, 2021 and 2020 was as follows (in millions): Three Months Ended September 30: 2021 2020 Foreign Currency Translation Gain (Loss), Net of Tax: Balance at beginning of period $ (1,015) $ (1,209) Translation adjustment (net of tax effect of $8 and $(14)) (106) 65 Balance at end of period (1,121) (1,144) Unrealized Gain (Loss) on Marketable Securities, Net of Tax: Balance at beginning of period 1 9 Current period changes in fair value (net of tax effect of $0 and $0) — (1) Reclassification to earnings (net of tax effect of $0 and $0) — (1) Balance at end of period 1 7 Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax: Balance at beginning of period (155) 215 Current period changes in fair value (net of tax effect of $40 and $(53)) 126 (168) Reclassification to earnings (net of tax effect of $(5) and $(8)) (14) (27) Balance at end of period (43) 20 Unrecognized Pension and Postretirement Benefit Costs, Net of Tax: Balance at beginning of period (1,895) (4,948) Reclassification to earnings (net of tax effect of $9 and $13) 29 43 Balance at end of period (1,866) (4,905) Accumulated other comprehensive income (loss) at end of period $ (3,029) $ (6,022) Nine Months Ended September 30: 2021 2020 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (981) $ (1,078) Translation adjustment (net of tax effect of $37 and $(15)) (140) (66) Balance at end of period (1,121) (1,144) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period 6 4 Current period changes in fair value (net of tax effect of $0 and $1) (1) 6 Reclassification to earnings (net of tax effect of $0 and $(1)) (4) (3) Balance at end of period 1 7 Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period (223) 112 Current period changes in fair value (net of tax effect of $65 and $10) 207 33 Reclassification to earnings (net of tax effect of $(9) and $(39)) (27) (125) Balance at end of period (43) 20 Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (5,915) (5,035) Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $2,039 and $0) 6,470 — Reclassification to earnings (net of tax effect of $(763) and $40) (2,421) 130 Balance at end of period (1,866) (4,905) Accumulated other comprehensive income (loss) at end of period $ (3,029) $ (6,022)
Gains (Losses) Reclassified from AOCI	Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three and nine months ended September 30, 2021 and 2020 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement Three Months Ended September 30: 2021 2020 Unrealized Gain (Loss) on Marketable Securities: Realized gain (loss) on sale of securities $ — $ 1 Investment income and other Income tax (expense) benefit — — Income tax expense Impact on net income — 1 Net income Unrealized Gain (Loss) on Cash Flow Hedges: Interest rate contracts (3) (3) Interest expense Foreign currency exchange contracts 22 38 Revenue Income tax (expense) benefit (5) (8) Income tax expense Impact on net income 14 27 Net income Unrecognized Pension and Postretirement Benefit Costs: Prior service costs (38) (56) Investment income and other Prior service credit for divested business — — Other expenses Plan amendments for divested business — — Other expenses Income tax (expense) benefit 9 13 Income tax expense Impact on net income (29) (43) Net income Total amount reclassified for the period $ (15) $ (15) Net income Amount Reclassified from AOCI Affected Line Item in the Income Statement Nine Months Ended September 30: 2021 2020 Unrealized gain (loss) on marketable securities: Realized gain (loss) on sale of securities $ 4 $ 4 Investment income and other Income tax (expense) benefit — (1) Income tax expense Impact on net income 4 3 Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (8) (9) Interest expense Foreign currency exchange contracts 44 173 Revenue Income tax (expense) benefit (9) (39) Income tax expense Impact on net income 27 125 Net income Unrecognized pension and postretirement benefit costs: Prior service costs (109) (170) Investment income and other Prior service credit for divested business 69 — Other expenses Plan amendments for divested business (66) — Other expenses Remeasurement of benefit obligation 3,290 — Investment income and other Income tax (expense) benefit (763) 40 Income tax expense Impact on net income 2,421 (130) Net income Total amount reclassified for the period $ 2,452 $ (2) Net income
Activity in Deferred Compensation Program	Activity in the deferred compensation program for the three and nine months ended September 30, 2021 and 2020 was as follows (in millions): 2021 2020 Three Months Ended September 30: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 16 $ 20 Reinvested dividends — — Benefit payments — — Balance at end of period $ 16 $ 20 Treasury Stock: Balance at beginning of period — $ (16) — $ (20) Reinvested dividends — — — — Benefit payments — — — — Balance at end of period — $ (16) — $ (20) 2021 2020 Nine Months Ended September 30: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 20 $ 26 Reinvested dividends 1 1 Benefit payments (5) (7) Balance at end of period $ 16 $ 20 Treasury Stock: Balance at beginning of period — $ (20) — $ (26) Reinvested dividends — (1) — (1) Benefit payments — 5 — 7 Balance at end of period — $ (16) — $ (20)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Results of operations for the three and nine months ended September 30, 2021 and 2020 are as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue: U.S. Domestic Package $ 14,208 $ 13,225 $ 42,620 $ 37,755 International Package 4,720 4,087 14,144 11,175 Supply Chain Solutions 4,256 3,926 12,752 10,802 Consolidated revenue $ 23,184 $ 21,238 $ 69,516 $ 59,732 Operating Profit: U.S. Domestic Package $ 1,407 $ 1,098 $ 4,333 $ 2,644 International Package 1,051 966 3,320 2,288 Supply Chain Solutions 438 299 1,266 715 Consolidated operating profit $ 2,896 $ 2,363 $ 8,919 $ 5,647

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 (in millions, except per share amounts): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Numerator: Net income attributable to common shareowners $ 2,329 $ 1,957 $ 9,797 $ 4,690 Denominator: Weighted average shares 870 864 869 861 Vested portion of restricted units 5 4 5 5 Denominator for basic earnings per share 875 868 874 866 Effect of dilutive securities: Restricted units 3 4 3 4 Stock options 1 — 1 — Denominator for diluted earnings per share 879 872 878 870 Basic earnings per share $ 2.66 $ 2.25 $ 11.21 $ 5.42 Diluted earnings per share $ 2.65 $ 2.24 $ 11.16 $ 5.39

DERIVATIVE INSTRUMENTS AND RI_2

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table indicates the amount of gains and (losses) that have been recognized in the statements of consolidated income for 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 and nine months ended September 30, 2021 and 2020 (in millions): Three Months Ended September 30, Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2021 2020 Revenue Interest Expense Investment Income and Other Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 4 $ — $ — $ 13 $ — Derivatives designated as hedging instruments — (4) — — (13) — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (3) — — (3) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 22 — — 38 — — 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 $ 22 $ (3) $ — $ 38 $ (3) $ — Nine Months Ended September 30, 2021 2020 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income and Other Revenue Interest Expense Investment Income and Other Gain or (loss) on fair value hedging relationships: Interest Contracts: Hedged items $ — $ 14 $ — $ — $ (21) $ — Derivatives designated as hedging instruments — (14) — — 21 — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (8) — — (9) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 44 — — 173 — — 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 $ 44 $ (8) $ — $ 173 $ (9) $ —
Schedule of Notional Amounts of Outstanding Derivative Positions	As of September 30, 2021 and December 31, 2020, the notional amounts of our outstanding derivative positions were as follows (in millions): September 30, 2021 December 31, 2020 Currency hedges: Euro EUR 4,130 EUR 4,197 British Pound Sterling GBP 1,391 GBP 1,400 Canadian Dollar CAD 1,623 CAD 1,576 Hong Kong Dollar HKD 4,103 HKD 3,717 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 1,000 USD 3,250 Floating to Fixed Interest Rate Swaps USD 28 USD 778
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Asset Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 94 $ 56 $ 76 $ 45 Interest rate contracts Other current assets Level 2 — 2 — 2 Foreign currency exchange contracts Other non-current assets Level 2 102 35 66 4 Interest rate contracts Other non-current assets Level 2 17 29 15 26 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 1 4 1 4 Total Asset Derivatives $ 214 $ 126 $ 158 $ 81 Fair Value Hierarchy Level Gross Amounts Presented in Net Amounts if Right of Liability Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 19 $ 34 $ 1 $ 23 Foreign currency exchange contracts Other non-current liabilities Level 2 36 142 — 111 Interest rate contracts Other non-current liabilities Level 2 11 13 9 10 Derivatives not designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 — 2 — 2 Interest rate contracts Other current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 66 $ 192 $ 10 $ 147 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 September 30, 2021 and December 31, 2020 (in millions): Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount Cumulative Amount Carrying Amount Cumulative Amount September 30, 2021 September 30, 2021 December 31, 2020 December 31, 2020 Long-term debt and finance leases $ 1,296 $ 22 $ 2,816 $ 42
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 for the three and nine months ended September 30, 2021 and 2020 for those derivatives designated as cash flow hedges (in millions): Three Months Ended September 30: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2021 2020 Interest rate contracts $ 1 $ (3) Foreign currency exchange contracts 165 (218) Total $ 166 $ (221) Nine Months Ended September 30: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2021 2020 Interest rate contracts $ 1 $ (6) Foreign currency exchange contracts 271 49 Total $ 272 $ 43 The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the three and nine months ended September 30, 2021 and 2020 for those instruments designated as net investment hedges (in millions): Three Months Ended September 30: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2021 2020 Foreign denominated debt $ 90 $ (139) Total $ 90 $ (139) Nine Months Ended September 30: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2021 2020 Foreign denominated debt $ 167 $ (92) Total $ 167 $ (92)
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 and foreign currency exchange forward contracts not designated as hedges for the three and nine months ended September 30, 2021 and 2020 (in millions): Derivative Instruments Not Designated in Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income 2021 2020 Three Months Ended September 30: Interest rate swap contracts Interest expense $ — $ (2) Foreign currency exchange contracts Investment income and other (21) 34 Total $ (21) $ 32 Nine Months Ended September 30: Interest rate swap contracts Interest expense $ — $ (6) Foreign currency exchange contracts Investment income and other (24) (15) Total $ (24) $ (21)

TRANSFORMATION STRATEGY x (Tabl

TRANSFORMATION STRATEGY x (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The table below presents the transformation strategy costs for the three and nine months ended September 30, 2021 and 2020 (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Transformation Strategy Costs: Compensation and benefits $ 33 $ 18 $ 164 $ 111 Total other expenses 41 26 144 90 Total Transformation Strategy Costs $ 74 $ 44 $ 308 $ 201 Income Tax Benefit from Transformation Strategy Costs (20) (11) (76) (50) After Tax Transformation Strategy Costs $ 54 $ 33 $ 232 $ 151

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Allowance for credit losses, period increase (decrease)	$ (5)	$ (10)

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue
Provisions for doubtful receivables	$ 48	$ 51	$ 128	$ 204
Contract with Customer, Liability, Current	35		35		$ 21
Revenues	23,184	21,238	69,516	59,732
Contract with Customer, Liability, Noncurrent	26		26		$ 26
Revenue from Contract with Customer, Excluding Assessed Tax	23,184	21,238	69,516	59,732
Forwarding
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	2,625	1,753	7,006	4,897
Logistics
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	1,158	1,040	3,424	2,862
Freight
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	0	870	1,064	2,360
Other
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	473	263	1,258	683
U.S | Next Day Air
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	2,415	2,098	7,202	6,137
U.S | Deferred
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	1,304	1,378	3,877	3,873
U.S | Ground
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	10,489	9,749	31,541	27,745
International | Domestic
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	852	776	2,716	2,183
International | Export
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	3,641	3,153	10,808	8,538
International | Cargo & Other
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	227	158	620	454
Supply Chain Solutions
Disaggregation of Revenue
Revenues		3,926		10,802
Supply Chain Solutions | Operating Segments
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax		3,926		10,802
U.S. Domestic Package
Disaggregation of Revenue
Revenues	14,208	13,225	42,620	37,755
U.S. Domestic Package | U.S | Operating Segments
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	14,208	13,225	42,620	37,755
International Package
Disaggregation of Revenue
Revenues	4,720	4,087	14,144	11,175
International Package | International | Operating Segments
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	4,720	$ 4,087	14,144	$ 11,175
Supply Chain Solutions
Disaggregation of Revenue
Revenues	4,256		12,752
Supply Chain Solutions | Operating Segments
Disaggregation of Revenue
Revenue from Contract with Customer, Excluding Assessed Tax	$ 4,256		$ 12,752

Revenue Recognition - Narrative

Revenue Recognition - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Allowance for credit losses, period increase (decrease)	$ 5		$ 10
Allowance for credit losses	128		128		$ 138
Provisions for doubtful receivables	48	$ 51	128	$ 204
Contract assets	339		339		279
Deferred revenue	359		359		279
Contract with Customer, Liability, Current	35		35		21
Contract with Customer, Liability, Noncurrent	$ 26		$ 26		$ 26

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Mar. 25, 2021	Feb. 10, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Mar. 22, 2021
Stockholders Equity Note [Line Items]
Stock compensation expense			$ 179	$ 140	$ 700	$ 508
Impairment charges on property plant and equipment			0	0	30	0
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect			0	0	0	(1)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Stockholders Equity Note [Line Items]
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $2,039 and $0)					6,470	0
Reclassification to earnings (net of tax effect of $9 and $13)			$ 29	$ 43	2,421	(130)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities, tax effect					$ 2,039	$ 0
Management Incentive Award
Stockholders Equity Note [Line Items]
Closing New York Stock Exchange price		$ 165.66						$ 161.06
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Award vesting period					3 years
Weighted-average fair value of options granted (usd per share)					$ 167.31		$ 92.77
Long-Term Incentive Performance Award | Restricted Units | Year 2020
Stockholders Equity Note [Line Items]
Weighted-average fair value of options granted (usd per share)	$ 167.66
Long-Term Incentive Performance Award | Restricted Units | Year 2021
Stockholders Equity Note [Line Items]
Weighted-average fair value of options granted (usd per share)	$ 166.52
Nonqualified Stock Options
Stockholders Equity Note [Line Items]
Award vesting period					5 years
Percentage of the award vesting at each anniversary date of the grant					20.00%
Expiration period (in years)					10 years
Stock options granted			200,000
Weighted-average fair value of options granted (usd per share)		$ 165.66

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Employee Stock Options Granted as Determined by Black-Scholes Valuation Model Assumptions (Detail) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Nonqualified Stock Options
Stockholders Equity Note [Line Items]
Risk-free interest rate	0.84%	1.26%
Expected volatility	23.15%	19.25%
Weighted-average fair value of options granted (usd per share)	$ 23.71	$ 11.74
Expected life (in years)	7 years 6 months	7 years 6 months
Expected dividend yield	3.31%	3.51%
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Risk-free interest rate	0.19%	0.15%
Expected volatility	30.70%	27.53%
Weighted-average fair value of options granted (usd per share)	$ 167.31	$ 92.77
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Share Payout	102.40%	101.00%

CASH AND INVESTMENTS - Summary

CASH AND INVESTMENTS - Summary of Marketable Securities (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Schedule of Marketable Securities [Line Items]
Debt Securities, Trading, Amortized Cost	$ 2	$ 2
Trading Securities, Gross Unrealized Gain	0	0
Trading Securities, Gross Unrealized Loss	0	0
Debt Securities, Trading, and Equity Securities, FV-NI	2	2
Debt Securities, Available-for-sale, Amortized Cost	343	396
Debt Securities, Available-for-sale, Current	346	404
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	3	8
Total Amortized Cost	345	398
Marketable Securities, Gross Unrealized Gain	3	8
Marketable Securities, Gross Unrealized Loss	0	0
Total Estimated Fair Value	348	406
Equity securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Trading, Amortized Cost	2	2
Trading Securities, Gross Unrealized Gain	0	0
Trading Securities, Gross Unrealized Loss	0	0
Debt Securities, Trading, and Equity Securities, FV-NI	2	2
U.S. government and agency debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	222	181
Debt Securities, Available-for-sale, Current	223	184
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	1	3
Mortgage and asset-backed debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	0	30
Debt Securities, Available-for-sale, Current	0	31
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	1
Corporate debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	113	174
Debt Securities, Available-for-sale, Current	115	178
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	2	4
U.S. state and local municipal debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5	0
Debt Securities, Available-for-sale, Current	5	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	0
Non-U.S. government debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	3	11
Debt Securities, Available-for-sale, Current	3	11
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	0	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$ 0	$ 0

CASH AND INVESTMENTS - Amortize

CASH AND INVESTMENTS - Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Cost
Due in one year or less	$ 35
Due after one year through three years	306
Due after three years through five years	2
Due after five years	0
Marketable Securities, Debt Maturities, Amortized Cost, Total	343
Equity securities	2
Total Amortized Cost	345	$ 398
Estimated Fair Value
Due in one year or less	35
Due after one year through three years	309
Due after three years through five years	2
Due after five years	0
Marketable Securities, Debt Maturities, Fair Value, Total	346
Equity securities	2
Total Estimated Fair Value	$ 348	$ 406

CASH AND INVESTMENTS - Addition

CASH AND INVESTMENTS - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Gain (Loss) on Securities [Line Items]
Other than temporary impairment losses	$ 0
Investments and Restricted Cash	24,000,000	$ 25,000,000
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	1,000,000	2,000,000
Variable life insurance policy
Gain (Loss) on Securities [Line Items]
Investments and Restricted Cash	$ 23,000,000	$ 23,000,000

CASH AND INVESTMENTS - Cash Det

CASH AND INVESTMENTS - Cash Details (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 10,212	$ 5,910	$ 8,839
Restricted cash	0	0	1
Total cash, cash equivalents and restricted cash	$ 10,212	$ 5,910	$ 8,840	$ 5,238

CASH AND INVESTMENTS - Investme

CASH AND INVESTMENTS - Investments Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 371	$ 429
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	348	406
Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	223	184
Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	31
Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	115	178
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	3	11
Marketable securities | U.S. state and local municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5	0
Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	23	23
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	240	207
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	217	184
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	217	184
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	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) | Marketable securities | U.S. state and local municipal 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	23	23
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	131	222
Significant Other Observable Inputs (Level 2) | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	131	222
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	6	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	0	31
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	115	178
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	3	11
Significant Other Observable Inputs (Level 2) | Marketable securities | U.S. state and local municipal debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5	0
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	0	0
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) | Marketable securities | U.S. state and local municipal 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	$ 0	$ 0

ASSETS HELD FOR SALE - Addition

ASSETS HELD FOR SALE - Additional Information (Details) - USD ($) $ in Millions	Apr. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Jan. 24, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Actuarial gain	$ (3,700)
Defined benefit plan, net actuarial gain (loss)	2,100
UPS Freight Business | Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture consideration							$ 800
Impairment charges						$ 686
Impairment charges, net of tax						629
Goodwill impairment charge						494
Increase in valuation allowance				$ 66		$ 192
Increase in valuation allowance, after tax				$ 50
UPS Freight Business | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds	$ 848
Pre-tax gain		$ 0	$ 101		$ 35
Gain, after tax			$ 77		$ 27

ASSETS HELD FOR SALE - Carrying

ASSETS HELD FOR SALE - Carrying Value of Assets and Liabilities Held for Sale (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Assets:
Total assets	$ 0	$ 1,197,000,000
Liabilities:
Total liabilities to be disposed of	0	347,000,000
Debt Instrument, Face Amount	22,274,000,000
Commercial Paper	0	15,000,000
Commercial Paper
Liabilities:
Debt Instrument, Face Amount	0
Held-for-sale | UPS Freight Business
Assets:
Accounts receivable, net	0	263,000,000
Other current assets	0	62,000,000
Property, plant and equipment, net	0	940,000,000
Other non-current assets	0	124,000,000
Total assets	0	1,389,000,000
Valuation allowance	0	(192,000,000)
Total assets held for sale	0	1,197,000,000
Liabilities:
Accounts payable	0	50,000,000
Other current liabilities	0	112,000,000
Other non-current liabilities	0	185,000,000
Total liabilities to be disposed of	0	347,000,000
Net assets held for sale	$ 0	$ 850,000,000

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 63,977		$ 63,977		$ 62,091
Less: Accumulated depreciation and amortization	(31,118)		(31,118)		(29,837)
Property, plant and equipment, net	32,859		32,859		32,254
Impairment charges on property plant and equipment	0	$ 0	30	$ 0
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	9,990		9,990		9,786
Aircraft
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	21,497		21,497		20,549
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,049		2,049		2,052
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,844		5,844		5,425
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	4,987		4,987		4,921
Plant equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15,315		15,315		14,684
Technology equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,788		2,788		2,626
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,507		$ 1,507		$ 2,048

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment purchased on account	$ 365		$ 365		$ 319
Impairment charges on property plant and equipment	$ 0	$ 0	$ 30	$ 0

EMPLOYEE BENEFIT PLANS - Net Pe

EMPLOYEE BENEFIT PLANS - Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Pension Plan | U.S. Pension Benefits
Net Periodic Cost:
Service cost	$ 442	$ 463	$ 1,456	$ 1,390
Interest cost	490	495	1,459	1,483
Expected return on assets	(825)	(887)	(2,502)	(2,662)
Amortization of prior service cost	36	55	103	164
Actuarial (gain) loss			(3,290)	0
Net periodic benefit cost	143	126	(2,774)	375
Defined Benefit Pension Plan | International Pension Benefits
Net Periodic Cost:
Service cost	19	17	57	50
Interest cost	9	10	29	30
Expected return on assets	(17)	(22)	(51)	(64)
Amortization of prior service cost	0	0	1	1
Actuarial (gain) loss			0	0
Net periodic benefit cost	11	5	36	17
U.S. Postretirement Medical Benefits | U.S. Pension Benefits
Net Periodic Cost:
Service cost	7	7	21	22
Interest cost	21	23	60	68
Expected return on assets	(1)	(2)	(4)	(6)
Amortization of prior service cost	2	1	5	5
Actuarial (gain) loss			0	0
Net periodic benefit cost	29	$ 29	82	$ 89
Estimated future employer contributions to defined benefit plan, current fiscal year	$ 21,000		$ 21,000

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) $ in Millions	Apr. 30, 2021USD ($)	Dec. 31, 2007USD ($)	Jun. 30, 2021USD ($)	Sep. 30, 2021USD ($)employee	Dec. 31, 2020USD ($)employee
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, net actuarial gain (loss)	$ 2,100
Actuarial gain (loss)	3,700
Basis point increase				0.49%
Benefit related to workforce reductions	100
Asset loss resulting from actual asset returns	$ 1,700
Basis points below our expected return	4.30%
Actuarial gain recorded in accumulated other comprehensive income	$ 2,100
Pre-tax actuarial gain			$ 69
Actuarial gain, after tax			52
Multiemployer Plans, Payment Term				41 years
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, before Tax			66
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, After Tax			$ 50
National Master Agreement And Various Supplemental Agreements
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee				316,000
Independent Pilots Association
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee					3,000
Teamsters Local 2727
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee					1,600
International Association Of Machinists And Aerospace Workers
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee					3,400
UPS/IBT Plan
Defined Benefit Plan Disclosure [Line Items]
Actuarial gain (loss)				$ 6,400
Reduction of the liability for coordinating benefits				5,100
Gain from other updated actuarial assumptions				1,300
Benefit from basis point increase in discount rate				$ 1,600
Basis point increase				0.72%
Asset loss resulting from actual asset returns				$ 300
Basis points below expected return				2.20%
Actuarial gain recorded in accumulated other comprehensive income				$ 3,100
Pre-tax actuarial gain				3,300
Actuarial gain, after tax				2,500
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Multi-employer Plans, Withdrawal Obligation, Fair Value Disclosure				966	$ 1,000
Defined Benefit Pension Plan | Central States Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Payment of withdrawal liability		$ 6,100
Pension liability					5,500
Defined Benefit Pension Plan | Long term debt
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plans, Withdrawal Obligation, Present Value				832	837
Defined Benefit Pension Plan | Other current liabilities
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plans, Withdrawal Obligation, Present Value				8	$ 7
Defined Benefit Pension Plan | U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans				96
U.S. Postretirement Medical Benefits | U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans				235
Estimated future employer contributions to defined benefit plan, current fiscal year				$ 21,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Allocation of Goodwill by Reportable Segment (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,367
Acquired	0
Currency / Other	(35)
Ending balance	3,332
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	422
Acquired	0
Currency / Other	(12)
Ending balance	410
Supply Chain Solutions
Goodwill [Roll Forward]
Beginning balance	2,230
Acquired	0
Currency / Other	(23)
Ending balance	$ 2,207

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Summary of Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,007		$ 6,007		$ 5,743
Accumulated Amortization	(3,783)		(3,783)		(3,469)
Net Carrying Value	2,224		2,224		2,274
Impairment of finite lived intangible assets	0	$ 0	7	$ 4
Licenses
Finite-Lived Intangible Assets [Line Items]
Carrying value	4		4
Trade name
Finite-Lived Intangible Assets [Line Items]
Carrying value	200		200
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,785		4,785		4,531
Accumulated Amortization	(3,197)		(3,197)		(2,962)
Net Carrying Value	1,588		1,588		1,569
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	101		101		100
Accumulated Amortization	(59)		(59)		(37)
Net Carrying Value	42		42		63
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	177		177		165
Accumulated Amortization	(116)		(116)		(113)
Net Carrying Value	61		61		52
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	722		722		729
Accumulated Amortization	(393)		(393)		(344)
Net Carrying Value	329		329		385
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	200		200		200
Accumulated Amortization	0		0		0
Net Carrying Value	200		200		200
Trademarks, patents and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22		22		18
Accumulated Amortization	(18)		(18)		(13)
Net Carrying Value	$ 4		$ 4		$ 5

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Impairment of finite lived intangible assets	$ 0	$ 0	$ 7	$ 4
Trade name
Finite-Lived Intangible Assets [Line Items]
Carrying value	200		200
Licenses
Finite-Lived Intangible Assets [Line Items]
Carrying value	$ 4		$ 4

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Carrying Value of Outstanding Debt (Detail) - USD ($)	Apr. 01, 2020	Sep. 30, 2021	Apr. 01, 2021	Jan. 15, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 22,274,000,000
Total debt		22,106,000,000			$ 24,654,000,000
Less current maturities		(1,268,000,000)			(2,623,000,000)
Long-Term Debt and Finance Leases		20,838,000,000			22,031,000,000
Senior notes | 3.125% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 0
Debt instrument, stated interest rate		3.125%		3.125%
Total debt		$ 0			1,507,000,000
Senior notes | 2.050% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 0
Debt instrument, stated interest rate		2.05%	2.05%
Total debt		$ 0			700,000,000
Senior notes | 2.450% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,000,000,000
Debt instrument, stated interest rate		2.45%
Total debt		$ 1,016,000,000			1,028,000,000
Senior notes | 2.350% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 600,000,000
Debt instrument, stated interest rate		2.35%
Total debt		$ 600,000,000			599,000,000
Senior notes | 2.500% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,000,000,000
Debt instrument, stated interest rate		2.50%
Total debt		$ 998,000,000			997,000,000
Senior notes | 2.800% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000,000
Debt instrument, stated interest rate		2.80%
Total debt		$ 498,000,000			498,000,000
Senior notes | 2.200% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 400,000,000
Debt instrument, stated interest rate		2.20%
Total debt		$ 399,000,000			398,000,000
Senior notes | 3.900% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,000,000,000
Debt instrument, stated interest rate		3.90%
Total debt		$ 996,000,000			995,000,000
Senior notes | 2.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000,000
Debt instrument, stated interest rate		2.40%
Total debt		$ 498,000,000			498,000,000
Senior notes | 3.050% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,000,000,000
Debt instrument, stated interest rate		3.05%
Total debt		$ 994,000,000			993,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 750,000,000
Debt instrument, stated interest rate		3.40%
Total debt		$ 746,000,000			746,000,000
Senior notes | 2.500% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 400,000,000
Debt instrument, stated interest rate		2.50%
Total debt		$ 397,000,000			397,000,000
Senior notes | 4.450% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 750,000,000
Debt instrument, stated interest rate		4.45%
Total debt		$ 743,000,000			743,000,000
Senior notes | 6.200% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,500,000,000
Debt instrument, stated interest rate		6.20%
Total debt		$ 1,484,000,000			1,483,000,000
Senior notes | 5.200% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000,000
Debt instrument, stated interest rate		5.20%
Total debt		$ 494,000,000			493,000,000
Senior notes | 4.875% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000,000
Debt instrument, stated interest rate		4.875%
Total debt		$ 491,000,000			490,000,000
Senior notes | 3.625% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 375,000,000
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
Debt instrument, stated interest rate		3.40%
Total debt		$ 492,000,000			491,000,000
Senior notes | 3.750% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,150,000,000
Debt instrument, stated interest rate		3.75%
Total debt		$ 1,137,000,000			1,137,000,000
Senior notes | 4.250% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 750,000,000
Debt instrument, stated interest rate		4.25%
Total debt		$ 743,000,000			742,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 700,000,000
Debt instrument, stated interest rate		3.40%
Total debt		$ 688,000,000			688,000,000
Senior notes | 5.300% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,250,000,000
Debt instrument, stated interest rate		5.30%
Total debt		$ 1,231,000,000			1,231,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		0
Total debt		0			350,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		400,000,000
Total debt		400,000,000			399,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		500,000,000
Total debt		500,000,000			499,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		1,039,000,000
Total debt		1,027,000,000			1,027,000,000
Senior notes | 7.620% debentures(1)
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 276,000,000
Debt instrument, stated interest rate	7.62%	7.62%				8.375%
Total debt		$ 280,000,000			281,000,000
Debt instrument, term	10 years
Senior notes | Canadian senior note 2.125%
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 588,000,000
Debt instrument, stated interest rate		2.125%
Total debt		$ 586,000,000			583,000,000
Pound Sterling notes | 5.500% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 89,000,000
Debt instrument, stated interest rate		5.50%
Total debt		$ 88,000,000			90,000,000
Pound Sterling notes | 5.125% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 612,000,000
Debt instrument, stated interest rate		5.125%
Total debt		$ 581,000,000			586,000,000
Euro Senior Notes | 0.375% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 811,000,000
Debt instrument, stated interest rate		0.375%
Total debt		$ 808,000,000			857,000,000
Euro Senior Notes | 1.625% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 811,000,000
Debt instrument, stated interest rate		1.625%
Total debt		$ 807,000,000			856,000,000
Euro Senior Notes | 1.000% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 579,000,000
Debt instrument, stated interest rate		1.00%
Total debt		$ 576,000,000			611,000,000
Euro Senior Notes | 1.500% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 579,000,000
Debt instrument, stated interest rate		1.50%
Total debt		$ 575,000,000			611,000,000
Facility notes and bonds
Debt Instrument [Line Items]
Debt Instrument, Face Amount		320,000,000
Total debt		320,000,000			320,000,000
Other debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount		3,000,000
Total debt		$ 3,000,000			$ 5,000,000

DEBT AND FINANCING ARRANGEMEN_4

DEBT AND FINANCING ARRANGEMENTS - Additional Information (Detail) € in Billions	Apr. 01, 2021USD ($)	Jan. 15, 2021USD ($)	Sep. 30, 2021USD ($)Credit_Agreements	Sep. 30, 2020USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2021EUR (€)Credit_Agreements	Dec. 31, 2020USD ($)	Apr. 01, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Commercial Paper			$ 0				$ 15,000,000
Repayments of long-term debt			2,613,000,000	$ 2,746,000,000
Face value of debt instrument			$ 22,274,000,000
Number of credit agreements | Credit_Agreements			2			2
Sale-lease back outstanding			$ 0
Long-term debt fair value			25,400,000,000				28,300,000,000
Finance Lease, Liability			$ 542,000,000				$ 342,000,000
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			$ 4,500,000,000
U.S. Commercial Paper Program
Debt Instrument [Line Items]
Commercial Paper			0
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
Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Maturity			Dec. 7, 2021
Revolving credit facilities			$ 2,000,000,000
Amounts outstanding under this facility			$ 0
Revolving Credit Facility Expiring In 2015 | Forecast
Debt Instrument [Line Items]
Revolving credit facilities					$ 1,000,000,000
Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Maturity			Dec. 11, 2023
Revolving credit facilities			$ 2,500,000,000
Amounts outstanding under this facility			$ 0
Revolving Credit Facility Expiring In 2017 | Forecast
Debt Instrument [Line Items]
Revolving credit facilities					$ 2,000,000,000
Revolving Credit Facility Expiring In 2017 | Minimum [Member]
Debt Instrument [Line Items]
Applicable margin for base rate below LIBOR			0.00%
Revolving Credit Facility Expiring In 2017 | Maximum [Member]
Debt Instrument [Line Items]
Applicable margin for base rate below LIBOR			1.00%
Commercial Paper
Debt Instrument [Line Items]
Face value of debt instrument			$ 0
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
Debt Instrument [Line Items]
Debt instrument, stated interest rate			3.05%			3.05%
Face value of debt instrument			$ 1,000,000,000
Senior notes | 3.900% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			3.90%			3.90%
Face value of debt instrument			$ 1,000,000,000
Senior notes | 4.450% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			4.45%			4.45%
Face value of debt instrument			$ 750,000,000
Senior notes | 5.200% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			5.20%			5.20%
Face value of debt instrument			$ 500,000,000
Senior notes | 5.300% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			5.30%			5.30%
Face value of debt instrument			$ 1,250,000,000
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 | 2.500% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			2.50%			2.50%
Face value of debt instrument			$ 400,000,000
Senior notes | 2.200% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			2.20%			2.20%
Face value of debt instrument			$ 400,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate			3.40%			3.40%
Face value of debt instrument			$ 700,000,000
Senior notes | 7.620% debentures(1)
Debt Instrument [Line Items]
Debt instrument, stated interest rate			7.62%			7.62%		7.62%	8.375%
Face value of debt instrument			$ 276,000,000
Senior notes | 3.125% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate		3.125%	3.125%			3.125%
Maturity		Jan. 15, 2021
Face value of debt instrument			$ 0
Repayments of senior notes		$ 1,500,000,000
Senior notes | 2.050% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate	2.05%		2.05%			2.05%
Maturity	Apr. 1, 2021
Face value of debt instrument			$ 0
Repayments of senior notes	$ 700,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Face value of debt instrument			$ 0
Repayments of senior notes	$ 350,000,000
LIBOR rate | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates			0.875%
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%
LIBOR | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates			1.00%
LIBOR | Revolving Credit Facility Expiring In 2017
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%

LEASES - Narratives (Details)

LEASES - Narratives (Details) $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)aircraft
Lessee, Lease, Description [Line Items]
Number of lease aircrafts (aircraft)	320
Number of lease aircrafts, finance (aircraft)	22
Number of lease aircrafts, operating (aircraft)	18
Number of lease aircrafts, short-term (aircraft)	280
Additional leases which had not commenced, amount | $	$ 405
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	139 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease costs	$ 183	$ 180	$ 537	$ 527
Amortization of assets	24	20	70	58
Interest on lease liabilities	4	4	11	14
Total finance lease costs	28	24	81	72
Variable lease costs	51	58	178	171
Short-term lease costs	305	260	835	716
Total lease costs	$ 567	$ 522	$ 1,631	$ 1,486

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Operating Leases:
Operating lease right-of-use assets	$ 3,460,000,000	$ 3,073,000,000
Current maturities of operating leases	552,000,000	560,000,000
Non-current operating leases	2,938,000,000	2,540,000,000
Total lease obligations	3,490,000,000	3,100,000,000
Finance Leases:
Finance Lease, Right-of-Use Asset	1,260,000,000	1,225,000,000
Current maturities of long-term debt, commercial paper and finance leases	268,000,000	56,000,000
Long-term debt and finance leases	274,000,000	286,000,000
Total lease obligations	$ 542,000,000	$ 342,000,000
Weighted average remaining lease term (in years):
Operating leases	11 years 9 months 18 days	11 years 2 months 12 days
Finance leases	5 years 7 months 6 days	9 years 3 months 18 days
Weighted average discount rate:
Operating leases	1.98%	2.28%
Finance leases	2.14%	4.14%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 538	$ 508
Operating cash flows from finance leases	8	11
Financing cash flows from finance leases	48	136
Operating leases	953	544
Finance leases	$ 252	$ 50

LEASES - Maturity Schedule Afte

LEASES - Maturity Schedule After Adoption (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Finance Leases
2021	$ 166,000,000
Finance Lease, Liability, to be Paid, Year One	138,000,000
Lessee, Operating Lease, Liability, to be Paid, Year One	629,000,000
2022	58,000,000
2023	35,000,000
2024	30,000,000
Thereafter	195,000,000
Total lease payments	622,000,000
Less: Imputed interest	(80,000,000)
Total lease obligations	542,000,000	$ 342,000,000
Less: Current obligations	(268,000,000)	(56,000,000)
Long-term lease obligations	274,000,000	286,000,000
Operating Leases
2021	127,000,000
2022	533,000,000
2023	440,000,000
2024	392,000,000
Thereafter	1,889,000,000
Total lease payments	4,010,000,000
Less: Imputed interest	(520,000,000)
Total lease obligations	3,490,000,000	3,100,000,000
Less: Current obligations	(552,000,000)	(560,000,000)
Long-term lease obligations	$ 2,938,000,000	$ 2,540,000,000

SHAREOWNERS' EQUITY - Additiona

SHAREOWNERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021USD ($)VoteClasses_of_Common_Stock$ / sharesshares	Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)shares	Sep. 30, 2021USD ($)VoteClasses_of_Common_Stock$ / sharesshares	Sep. 30, 2020USD ($)shares	Aug. 31, 2021USD ($)	May 31, 2016USD ($)
Stockholders Equity Note [Line Items]
Classes of Common Stock, Number | Classes_of_Common_Stock	2			2
Preferred stock, shares authorized | shares	200,000,000			200,000,000
Preferred stock, par value | $ / shares	$ 0.01			$ 0.01
Preferred stock, issued | shares	0			0
Purchases of common stock				$ 500	$ 224
Change in non-controlling minority interest	$ (1)		$ 1	$ 4	$ (2)
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, before Tax		$ 66
May 2016 Share Repurchase Program
Stockholders Equity Note [Line Items]
Common stock authorized for purchase, amount							$ 8,000
Common stock purchases | shares	0		0	0	2,100,000
Total of Class A and Class B common stock, repurchased, value					$ 217
Purchases of common stock					224
August 2021 Share Repurchase Program
Stockholders Equity Note [Line Items]
Common stock authorized for purchase, amount						$ 5,000
Common stock purchases | shares	2,600,000			2,600,000
Total of Class A and Class B common stock, repurchased, value	$ 500			$ 500
Share repurchase authorization available	$ 4,500			$ 4,500
Class A common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	10			10
Common stock, par value | $ / shares	$ 0.01			$ 0.01
Common stock, shares authorized | shares	4,600,000,000			4,600,000,000
Class B common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	1			1
Common stock, par value | $ / shares	$ 0.01			$ 0.01
Common stock, shares authorized | shares	5,600,000,000			5,600,000,000
Net income
Stockholders Equity Note [Line Items]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	$ (15)		$ (15)	$ 2,452	(2)
Unrealized gain (loss) on cash flow hedges, net of tax:
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	(5)		(8)	(9)	(39)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	14		27	27	125
Unrealized gain (loss) on cash flow hedges, net of tax: | Income tax expense
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	(5)		(8)	(9)	(39)
Unrealized gain (loss) on cash flow hedges, net of tax: | Net income
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	14		27	27	125
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Stockholders Equity Note [Line Items]
Reclassification to earnings (net of tax effect of $_ and $12)	(29)		(43)	(2,421)	130
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Income tax expense
Stockholders Equity Note [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	9		13	(763)	40
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Net income
Stockholders Equity Note [Line Items]
Reclassification to earnings (net of tax effect of $_ and $12)	(29)		(43)	2,421	(130)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Investment income and other
Stockholders Equity Note [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(38)		(56)	(109)	(170)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax				3,290	0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Other expenses
Stockholders Equity Note [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	0		0	69	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, before Tax	0		0	(66)	0
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect	0		0	0	(1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0		1	4	3
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Income tax expense
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect	0		0	0	(1)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Net income
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0		1	4	3
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Investment income and other
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	0		1	4	4
Foreign Exchange Contracts | Interest expense
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Foreign Exchange Contracts | Investment income and other
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Foreign Exchange Contracts | Revenue
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	22		38	44	173
Foreign Exchange Contracts | Unrealized gain (loss) on cash flow hedges, net of tax: | Revenue
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	22		38	44	173
Interest Contracts | Interest expense
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)		(3)	(8)	(9)
Interest Contracts | Investment income and other
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Interest Contracts | Revenue
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Interest Contracts | Unrealized gain (loss) on cash flow hedges, net of tax: | Interest expense
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	$ (3)		$ (3)	$ (8)	$ (9)

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stockholders Equity Note [Roll Forward]
Balance at beginning of period			$ 657
Net income attributable to common shareowners	$ 2,329	$ 1,957	9,797	$ 4,690
Balance at end of period	12,041		12,041
Non-Controlling Minority Interest
Balance at beginning of period	17	13	12	16
Change in non-controlling minority interest	(1)	1	4	(2)
Balance at end of period	$ 16	$ 14	$ 16	$ 14
Common stock, cash paid for dividends, per share	$ 1.02	$ 1.01	$ 3.06	$ 3.03
Dividends, common stock	$ 27	$ 28	$ 140	$ 151
Class A common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period, shares			147
Balance at end of period, shares	141		141
Class B common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period, shares			718
Balance at end of period, shares	728		728
Common Stock | Class A common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 2	$ 2	$ 2	$ 2
Balance at beginning of period, shares	144	157	147	156
Stock award plans	$ 0	$ 0	$ 0	$ 0
Stock award plans, shares	(1)	0	5	6
Common stock issuances	$ 0	$ 0	$ 0	$ 0
Common stock issuances, shares	1	1	2	3
Conversions of class A to class B common stock	$ 0	$ 0	$ 0	$ 0
Conversions of Class A to Class B common stock, shares	3	8	(13)	(15)
Balance at end of period	$ 2	$ 2	$ 2	$ 2
Balance at end of period, shares	141	150	141	150
Common Stock | Class B common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 7	$ 7	$ 7	$ 7
Balance at beginning of period, shares	728	706	718	701
Common stock purchases	$ 0	$ 0	$ 0	$ 0
Common stock purchases, shares	(3)	0	(3)	(2)
Conversions of class A to class B common stock	$ 0	$ 0	$ 0	$ 0
Conversions of Class A to Class B common stock, shares	(3)	(8)	(13)	(15)
Balance at end of period	$ 7	$ 7	$ 7	$ 7
Balance at end of period, shares	728	714	728	714
Additional Paid-In Capital
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 1,329	$ 255	$ 865	$ 150
Common stock purchases	(500)	0	(500)	(217)
Stock award plans	176	145	399	215
Common stock issuances	83	90	324	342
Balance at end of period	1,088	490	1,088	490
Retained Earnings
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	12,531	10,032	6,896	9,105
Net income attributable to common shareowners	2,329	1,957	9,797	4,690
Balance at end of period	13,973	11,115	13,973	11,115
Dividends ($1.02 and $1.01 per share) (1)	(887)	(873)	(2,718)	(2,679)
Other	$ 0	$ (1)	$ (2)	$ (1)

Activity in Accumulated Other C

Activity in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period			$ (7,113)
Translation adjustment (net of tax effect of $8 and $(14))	$ (106)	$ 65	(140)	$ (66)
Current period changes in fair value (net of tax effect of $0 and $0)	0	(2)	(5)	3
Change in unrealized gain (loss) on cash flow hedges, net of tax	112	(195)	180	(92)
Balance at end of period	(3,029)	(6,022)	(3,029)	(6,022)
Foreign currency translation gain (loss):
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1,015)	(1,209)	(981)	(1,078)
Translation adjustment (net of tax effect of $8 and $(14))	(106)	65	(140)	(66)
Balance at end of period	(1,121)	(1,144)	(1,121)	(1,144)
Aggregate adjustment for the period, tax	8	(14)	37	(15)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	1	9	6	4
Current period changes in fair value (net of tax effect of $0 and $0)	0	(1)	(1)	6
Reclassification to earnings (net of tax effect of $0 and $0)	0	(1)	(4)	(3)
Balance at end of period	1	7	1	7
Current period changes in fair value, tax effect	0	0	0	1
Reclassification to earnings, tax effect	0	0	0	(1)
Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(155)	215	(223)	112
Change in unrealized gain (loss) on cash flow hedges, net of tax	126	(168)	207	33
Reclassification to earnings (net of tax effect of $(5) and $(8))	(14)	(27)	(27)	(125)
Balance at end of period	(43)	20	(43)	20
Current period changes in fair value, tax effect	40	(53)	65	10
Reclassification to earnings, tax effect	(5)	(8)	(9)	(39)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1,895)	(4,948)	(5,915)	(5,035)
Reclassification to earnings (net of tax effect of $9 and $13)	29	43	2,421	(130)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $2,039 and $0)			6,470	0
Balance at end of period	(1,866)	(4,905)	(1,866)	(4,905)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities, tax effect			2,039	0
Reclassification to earnings, tax effect	9	13	(763)	40
Income tax expense | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings, tax effect	0	0	0	(1)
Income tax expense | Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings, tax effect	(5)	(8)	(9)	(39)
Net income | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of $0 and $0)	0	(1)	(4)	(3)
Net income | 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 $(5) and $(8))	(14)	(27)	(27)	(125)
Net income | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of $9 and $13)	$ 29	$ 43	$ (2,421)	$ 130

SHAREOWNERS' EQUITY - Gains (Lo

SHAREOWNERS' EQUITY - Gains (Losses) Reclassified from AOCI (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, before Tax		$ 66
Net income
AmountsReclassifiedFromAOCI [Line Items]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	$ (15)		$ (15)	$ 2,452	$ (2)
Interest rate contracts | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Interest rate contracts | Interest expense
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)		(3)	(8)	(9)
Interest rate contracts | Revenue
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Foreign currency exchange contracts | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Foreign currency exchange contracts | Interest expense
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0		0	0	0
Foreign currency exchange contracts | Revenue
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	22		38	44	173
Accumulated Net Unrealized Investment Gain (Loss) [Member]
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	0		0	0	(1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0		1	4	3
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	0		0	0	(1)
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Net income
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0		1	4	3
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		1	4	4
Unrealized gain (loss) on cash flow hedges, net of tax:
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(5)		(8)	(9)	(39)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	14		27	27	125
Unrealized gain (loss) on cash flow hedges, net of tax: | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(5)		(8)	(9)	(39)
Unrealized gain (loss) on cash flow hedges, net of tax: | Net income
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	14		27	27	125
Unrealized gain (loss) on cash flow hedges, net of tax: | Interest rate contracts | Interest expense
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)		(3)	(8)	(9)
Unrealized gain (loss) on cash flow hedges, net of tax: | Foreign currency exchange contracts | Revenue
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	22		38	44	173
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	(29)		(43)	(2,421)	130
Accumulated Defined Benefit Plans Adjustment [Member] | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	9		13	(763)	40
Accumulated Defined Benefit Plans Adjustment [Member] | Net income
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	(29)		(43)	2,421	(130)
Accumulated Defined Benefit Plans Adjustment [Member] | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(38)		(56)	(109)	(170)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax				3,290	0
Accumulated Defined Benefit Plans Adjustment [Member] | Other expenses
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	0		0	69	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Plan Amendments, Reclassification Adjustment from AOCI, before Tax	$ 0		$ 0	$ (66)	$ 0

SHAREOWNERS' EQUITY - Activity

SHAREOWNERS' EQUITY - Activity in Deferred Compensation Program (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stockholders Equity Note [Roll Forward]
Balance at beginning of period			$ 657
Balance at beginning of period			400,000
Balance at end of period	$ 12,041		$ 12,041
Balance at end of period	300,000		300,000
Treasury Stock [Member]
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ (16)	$ (20)	$ (20)	$ (26)
Balance at beginning of period	0	0	0	0
Reinvested dividends	$ 0	$ 0	$ (1)	$ (1)
Reinvested dividends	0	0	0	0
Benefit payments	0	0	0	0
Benefit payments	$ 0	$ 0	$ (5)	$ (7)
Balance at end of period	$ (16)	$ (20)	$ (16)	$ (20)
Balance at end of period	0	0	0	0
Deferred Compensation Obligations
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 16	$ 20	$ 20	$ 26
Reinvested dividends	0	0	1	1
Benefit payments	0	0	(5)	(7)
Balance at end of period	$ 16	$ 20	$ 16	$ 20

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Countries_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 Solutions | 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 23,184	$ 21,238	$ 69,516	$ 59,732
Operating Profit	2,896	2,363	8,919	5,647
U.S. Domestic Package
Segment Reporting Information [Line Items]
Revenue	14,208	13,225	42,620	37,755
Operating Profit	1,407	1,098	4,333	2,644
International Package
Segment Reporting Information [Line Items]
Revenue	4,720	4,087	14,144	11,175
Operating Profit	1,051	966	3,320	2,288
Supply Chain Solutions
Segment Reporting Information [Line Items]
Revenue		3,926		10,802
Operating Profit		$ 299		$ 715
Supply Chain Solutions
Segment Reporting Information [Line Items]
Revenue	4,256		12,752
Operating Profit	$ 438		$ 1,266

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income attributable to common shareowners	$ 2,329	$ 1,957	$ 9,797	$ 4,690
Denominator:
Weighted average shares	870	864	869	861
Vested portion of restricted shares	5	4	5	5
Denominator for basic earnings per share	875	868	874	866
Effect of dilutive securities:
Denominator for diluted earnings per share	879	872	878	870
Basic earnings per share (usd per share)	$ 2.66	$ 2.25	$ 11.21	$ 5.42
Diluted earnings per share (usd per share)	$ 2.65	$ 2.24	$ 11.16	$ 5.39
Restricted performance units
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	3	4	3	4
Stock option plans
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	1	0	1	0

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
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	0	0.1	0.8

DERIVATIVE INSTRUMENTS AND RI_3

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
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		$ 62,000,000
Maximum term over hedging exposures to the variability of cash flow		11 years
Collateral Securities Repledged, Delivered, or Used	$ 15,000,000	$ 15,000,000	$ 158,000,000
Commodity Asset	$ 0	0	0
Derivative Instrument Recognition Period	9 years
Derivative net liability position			0
Derivative, Collateral, Obligation to Return Cash	$ 139,000,000	139,000,000	146,000,000
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Derivatives classified as Level 1 or Level 3	0	0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Liability Derivatives	66,000,000	66,000,000	192,000,000
Derivative Asset, Fair Value, Gross Asset	214,000,000	214,000,000	126,000,000
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Derivatives classified as Level 1 or Level 3	0	0	$ 0
Long-term debt and finance leases | Not Designated as Hedging Instrument | Fair Value
Derivative [Line Items]
Liability Derivatives	$ 6,000,000	$ 6,000,000

Notional Amounts of Outstanding

Notional Amounts of Outstanding Derivative Positions (Detail) € in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions	Sep. 30, 2021EUR (€)	Sep. 30, 2021GBP (£)	Sep. 30, 2021CAD ($)	Sep. 30, 2021HKD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020GBP (£)	Dec. 31, 2020CAD ($)	Dec. 31, 2020HKD ($)	Dec. 31, 2020USD ($)
Fixed to Floating Interest Rate Swaps
Derivative [Line Items]
Derivative, notional amount					$ 1,000					$ 3,250
Floating to Fixed Interest Rate Swaps
Derivative [Line Items]
Derivative, notional amount					$ 28					$ 778
Foreign Exchange Contracts | Euro Member Countries, Euro
Derivative [Line Items]
Derivative, notional amount | €	€ 4,130					€ 4,197
Foreign Exchange Contracts | United Kingdom, Pounds
Derivative [Line Items]
Derivative, notional amount | £		£ 1,391					£ 1,400
Foreign Exchange Contracts | Canada, Dollars
Derivative [Line Items]
Derivative, notional amount			$ 1,623					$ 1,576
Foreign Exchange Contracts | Hong Kong, Dollars
Derivative [Line Items]
Derivative, notional amount				$ 4,103					$ 3,717

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	Sep. 30, 2021	Dec. 31, 2020
Asset Derivatives
Asset Derivatives	$ 214	$ 126
Net Amounts if Right of Offset had been Applied	158	81
Derivative Liabilities [Abstract]
Liability Derivatives	66	192
Net Amounts if Right of Offset had been Applied	10	147
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	94	56
Net Amounts if Right of Offset had been Applied	76	45
Designated as Hedging Instrument | Foreign currency exchange contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	102	35
Net Amounts if Right of Offset had been Applied	66	4
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	19	34
Net Amounts if Right of Offset had been Applied	1	23
Designated as Hedging Instrument | Foreign currency exchange contracts | Long-term debt and finance leases
Derivative Liabilities [Abstract]
Liability Derivatives	36	142
Net Amounts if Right of Offset had been Applied	0	111
Designated as Hedging Instrument | Interest rate contracts | Other current assets
Asset Derivatives
Asset Derivatives	0	2
Net Amounts if Right of Offset had been Applied	0	2
Designated as Hedging Instrument | Interest rate contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	17	29
Net Amounts if Right of Offset had been Applied	15	26
Designated as Hedging Instrument | Interest rate contracts | Long-term debt and finance leases
Derivative Liabilities [Abstract]
Liability Derivatives	11	13
Net Amounts if Right of Offset had been Applied	9	10
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	1	4
Net Amounts if Right of Offset had been Applied	1	4
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	0	2
Net Amounts if Right of Offset had been Applied	0	2
Not Designated as Hedging Instrument | Interest rate contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	0	1
Net Amounts if Right of Offset had been Applied	$ 0	$ 1

DERIVATIVE INSTRUMENTS AND RI_4

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Fair Value Derivative Balance Sheet Location (Details) - Designated as Hedging Instrument - Long-term debt and finance leases - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Carrying Amount
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 1,296	$ 2,816
Fair Value
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 22	$ 42

DERIVATIVE INSTRUMENTS AND RI_5

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Income Statement and AOCI Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	$ 0	$ 0	$ 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	22	38	44	173
Revenue | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	0	0	0	0
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0	0	0
Revenue | Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	22	38	44	173
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	4	13	14	(21)
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	(3)	(3)	(8)	(9)
Interest expense | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	(4)	(13)	(14)	21
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)	(3)	(8)	(9)
Interest expense | Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0	0	0
Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	0	0	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	0	0
Investment income and other | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	0	0	0	0
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0	0	0
Investment income and other | Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	$ 0	$ 0	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments in Cash Flow Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	$ 166	$ (221)	$ 272	$ 43
Derivative Instruments in Cash Flow Hedging Relationships | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	1	(3)	1	(6)
Derivative Instruments in Cash Flow Hedging Relationships | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	165	(218)	271	49
Non-derivative Instruments in Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	90	(139)	167	(92)
Non-derivative Instruments in Net Investment Hedging Relationships | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	$ 90	$ (139)	$ 167	$ (92)

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (21)	$ 32	$ (24)	$ (21)
Interest rate contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	0	(2)	0	(6)
Foreign currency exchange contracts | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (21)	$ 34	$ (24)	$ (15)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax
Effective tax rate	22.20%			22.50%	22.40%	23.50%
Effective income tax rate reconciliation, excess tax benefit					0.60%	0.20%
Defined Benefit Plan, Mark to Market Gain (Loss), Tax Effect			$ 788
Defined Benefit Plan, Mark to Market Gain (Loss)			$ 3,300
Transformation cost	$ 74			$ 44	$ 308	$ 201
Income tax benefit from transformation strategy	20			$ 11	76	$ 50
UPS Freight Business | Disposed of by Sale
Income Tax
Pre-tax gain	0	$ 101			35
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Tax Expense (Benefit)	$ 0				$ 8

TRANSFORMATION STRATEGY (Detail

TRANSFORMATION STRATEGY (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Compensation and benefits	$ 33	$ 18	$ 164	$ 111
Total other expenses	41	26	144	90
Total Transformation Strategy Costs	74	44	308	201
Income Tax Benefit from Transformation Strategy Costs	(20)	(11)	(76)	(50)
After Tax Transformation Strategy Costs	$ 54	$ 33	$ 232	$ 151