United Parcel Service (UPS) 10-Q 4 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	2022
Document Fiscal Period Focus	Q1
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		139,328,843
Class B common stock
Entity Common Stock, Shares Outstanding		734,437,505

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 12,208	$ 10,255
Marketable securities	337	338
Accounts receivable	11,335	12,669
Less: Allowance for credit losses	(136)	(128)
Accounts receivable, net	11,199	12,541
Other current assets	1,857	1,800
Total Current Assets	25,601	24,934
Property, Plant and Equipment, Net	33,595	33,475
Operating Lease Right-Of-Use Assets	3,481	3,562
Goodwill	3,668	3,692
Intangible Assets, Net	2,465	2,486
Investments and Restricted Cash	22	26
Deferred Income Tax Assets	173	176
Other Non-Current Assets	1,108	1,054
Total Assets	70,113	69,405
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases	2,141	2,131
Current maturities of operating leases	579	580
Accounts payable	7,036	7,523
Accrued wages and withholdings	3,418	3,819
Self-insurance reserves	1,025	1,048
Accrued group welfare and retirement plan contributions	922	1,038
Other current liabilities	1,721	1,430
Total Current Liabilities	16,842	17,569
Long-Term Debt and Finance Leases	19,740	19,784
Non-Current Operating Leases	2,970	3,033
Pension and Postretirement Benefit Obligations	8,203	8,047
Deferred Income Tax Liabilities	3,356	3,125
Other Non-Current Liabilities	3,568	3,578
Shareowners’ Equity:
Additional paid-in capital	1,231	1,343
Retained earnings	17,433	16,179
Accumulated other comprehensive loss	(3,257)	(3,278)
Deferred compensation obligations	12	16
Less: Treasury stock (0.3 shares in both 2022 and 2021)	(12)	(16)
Total Equity for Controlling Interests	15,416	14,253
Noncontrolling interests	18	16
Total Shareowners’ Equity	15,434	14,269
Total Liabilities and Shareowners’ Equity	70,113	69,405
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 shares in Millions	Mar. 31, 2022	Dec. 31, 2021
Treasury stock (in shares)	0.3	0.3
Class A common stock
Common stock, shares issued (in shares)	140	138
Class B common stock
Common stock, shares issued (in shares)	734	732

STATEMENTS OF CONSOLIDATED INCO

STATEMENTS OF CONSOLIDATED INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 24,378	$ 22,908
Operating Expenses:
Compensation and benefits	11,616	11,483
Repairs and maintenance	626	619
Depreciation and amortization	764	722
Purchased transportation	4,600	4,243
Fuel	1,220	807
Other occupancy	491	466
Other expenses	1,810	1,803
Total Operating Expenses	21,127	20,143
Operating Profit	3,251	2,765
Other Income and (Expense):
Investment income and other	315	3,616
Interest expense	(174)	(177)
Total Other Income and (Expense)	141	3,439
Income Before Income Taxes	3,392	6,204
Income Tax Expense	730	1,412
Net Income	$ 2,662	$ 4,792
Basic Earnings Per Share (in dollars per share)	$ 3.05	$ 5.50
Diluted Earnings Per Share (in dollars per share)	$ 3.03	$ 5.47

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,662	$ 4,792
Change in foreign currency translation adjustment, net of tax	(40)	(82)
Change in unrealized gain (loss) on marketable securities, net of tax	(6)	(4)
Change in unrealized gain (loss) on cash flow hedges, net of tax	43	114
Change in unrecognized pension and postretirement benefit costs, net of tax	24	2,426
Comprehensive Income (Loss)	$ 2,683	$ 7,246

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows From Operating Activities:
Net income	$ 2,662	$ 4,792
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	764	722
Pension and postretirement benefit (income) expense	201	(3,024)
Pension and postretirement benefit contributions	(45)	(215)
Self-insurance reserves	(45)	4
Deferred tax (benefit) expense	209	942
Stock compensation expense	386	315
Other (gains) losses	44	57
Changes in assets and liabilities, net of effects of business acquisitions:
Accounts receivable	1,227	435
Other assets	7	363
Accounts payable	(743)	(261)
Accrued wages and withholdings	(343)	199
Other liabilities	173	180
Other operating activities	(17)	22
Net cash from operating activities	4,480	4,531
Cash Flows From Investing Activities:
Capital expenditures	(548)	(834)
Proceeds from disposal of businesses, property, plant and equipment	0	10
Purchases of marketable securities	(68)	(78)
Sales and maturities of marketable securities	60	134
Net change in finance receivables	5	11
Cash paid for business acquisitions, net of cash and cash equivalents acquired	1	(3)
Other investing activities	(22)	(6)
Net cash used in investing activities	(572)	(766)
Cash Flows From Financing Activities:
Net change in short-term debt	0	697
Proceeds from long-term borrowings	0	0
Repayments of long-term borrowings	(18)	(1,528)
Purchases of common stock	(254)	0
Issuances of common stock	67	78
Dividends	(1,284)	(858)
Other financing activities	(481)	(334)
Net cash used in financing activities	(1,970)	(1,945)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	15	1
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	1,953	1,821
Cash, Cash Equivalents and Restricted Cash:
Beginning of period	10,255	5,910
End of period	$ 12,208	$ 7,731

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and our results of operations and cash flows for the three months ended March 31, 2022 and 2021. 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, 2021. Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, accounts receivable, finance receivables and accounts payable approximate fair value as of March 31, 2022 and December 31, 2021. The fair values of our investment securities are disclosed in note 5, our recognized multiemployer pension withdrawal liabilities in note 7, our short- and long-term debt in note 9 and our derivative instruments in note 15. We apply a fair value hierarchy (Levels 1, 2 and 3) when measuring and reporting items at fair value. Fair values are based on listed market prices (Level 1), when such prices are available. To the extent that listed market prices are not available, fair value is determined based on other relevant factors, including dealer price quotations (Level 2). If listed market prices or other relevant factors are not available, inputs are developed from unobservable data reflecting our own assumptions and include situations where there is little or no market activity for the asset or liability (Level 3). We utilized Level 1 inputs in the fair value hierarchy 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. 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	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Adoption of New Accounting Standards 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. For accounting standards adopted in the period ended March 31, 2021, refer to note 1 to our audited, consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021. Accounting Standards Issued But Not Yet Effective Accounting pronouncements issued before, but not effective until after, March 31, 2022, are not expected to have a material impact on our consolidated financial position, results of operations or cash flows.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
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”) domestically or internationally. These services may be carried out by or arranged by us, and generally occur 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 2022 2021 Revenue: Next Day Air $ 2,594 $ 2,331 Deferred 1,420 1,260 Ground 11,110 10,419 U.S. Domestic Package 15,124 14,010 Domestic 851 928 Export 3,778 3,493 Cargo & Other 247 186 International Package 4,876 4,607 Forwarding 2,589 2,072 Logistics 1,251 1,104 Freight — 767 Other 538 348 Supply Chain Solutions 4,378 4,291 Consolidated revenue $ 24,378 $ 22,908 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. Our allowance for credit losses as of March 31, 2022 and December 31, 2021 was $136 and $128 million, respectively. Amounts for credit losses charged to expense, before recoveries, during the three months ended March 31, 2022 and 2021 were $54 and $41 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 $336 and $304 million as of March 31, 2022 and December 31, 2021, respectively, net of deferred revenue related to in-transit packages of $359 and $314 million as of March 31, 2022 and December 31, 2021, 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 $10 and $27 million as of March 31, 2022 and December 31, 2021, 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 and $25 million as of March 31, 2022 and December 31, 2021, respectively. Long-term contract liabilities are included within Other Non-Current Liabilities in the consolidated balance sheets.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
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. 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 2021 MIP award, we determined the award measurement dates to be February 9, 2022 (for U.S.-based employees and executive management) and March 21, 2022 (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 $225.07 and $218.56 on those dates. Long-Term Incentive Performance Award Program ("LTIP") RPUs issued under the LTIP vest at the end of a three-year performance period, assuming continued employment with the Company (except in the case of death, disability or retirement, in which case immediate vesting occurs on a prorated basis). The actual number of RPUs earned is based on achievement of the performance targets established on the grant date. The performance targets are equally weighted between adjusted earnings per share and adjusted cumulative free cash flow. The actual number of RPUs earned is subject to adjustment based on total shareholder return 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. Based on the date of Compensation Committee approval of the 2022 LTIP award performance targets, we determined March 23, 2022 to be the award measurement date and the target RPUs awarded were valued at $230.67. The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2022 and 2021 are as follows: 2022 2021 Risk-free interest rate 2.29 % 0.19 % Expected volatility 31.90 % 30.70 % Weighted-average fair value of RPUs granted $ 230.67 $ 168.05 Share payout 107.50 % 102.39 % 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-year period with approximately 20% of the award vesting at each anniversary of the grant date (except in the case of death, disability or retirement, in which case immediate vesting occurs). The option grants expire 10 years after the date of the grant. In the first quarter of 2022, we granted 0.1 million stock options at an exercise price of $214.58, which was the NYSE closing price on the date of grant. 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 2022 and 2021 are as follows: 2022 2021 Expected dividend yield 2.35 % 3.31 % Risk-free interest rate 2.39 % 0.84 % Expected life (in years) 7.5 7.5 Expected volatility 25.04 % 23.15 % Weighted-average fair value of options granted $ 48.45 $ 23.71 Pre-tax compensation expense for share-based awards recognized in Compensation and benefits on the statements of consolidated income for the three months ended March 31, 2022 and 2021 was $386 and $315 million , respectively.

CASH AND INVESTMENTS

CASH AND INVESTMENTS	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021 (in millions): Cost Unrealized Unrealized Estimated March 31, 2022: 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 203 — (4) 199 Mortgage and asset-backed debt securities 6 — — 6 Corporate debt securities 125 — (3) 122 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 342 — (7) 335 Total current marketable securities $ 344 $ — $ (7) $ 337 Cost Unrealized Unrealized Estimated December 31, 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 199 2 (1) 200 Mortgage and asset-backed debt securities 7 — — 7 Corporate debt securities 121 — — 121 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 335 2 (1) 336 Total current marketable securities $ 337 $ 2 $ (1) $ 338 Investment Impairments We have concluded that no material impairment losses existed as of March 31, 2022. 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 March 31, 2022 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 $ 34 $ 34 Due after one year through three years 307 300 Due after three years through five years 1 1 Due after five years — — 342 335 Equity securities 2 2 $ 344 $ 337 Non-Current Investments and Restricted Cash We hold an investment in a variable life insurance policy to fund benefits for the UPS Excess Coordinating Benefit Plan. The investment had a fair market value of $21 million and $23 million as of March 31, 2022 and December 31, 2021, respectively. Changes in fair value are recognized in Investment income and other in the statements of consolidated income. Additionally, we held cash in escrow related to the acquisition and disposition of certain assets of $1 million and $3 million as of March 31, 2022 and December 31, 2021, 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): March 31, 2022 December 31, 2021 March 31, 2021 Cash and cash equivalents $ 12,208 $ 10,255 $ 7,731 Restricted cash — — — Total cash, cash equivalents and restricted cash $ 12,208 $ 10,255 7,731 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 March 31, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices Significant Other Significant Balance March 31, 2022: Marketable Securities: U.S. government and agency debt securities $ 199 $ — $ — $ 199 Mortgage and asset-backed debt securities — 6 — 6 Corporate debt securities — 122 — 122 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 199 138 — 337 Other non-current investments 21 — — 21 Total $ 220 $ 138 $ — $ 358 December 31, 2021: Marketable Securities: U.S. government and agency debt securities $ 200 $ — $ — $ 200 Mortgage and asset-backed debt securities — 7 — 7 Corporate debt securities — 121 — 121 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 200 138 — 338 Other non-current investments 23 — — 23 Total $ 223 $ 138 $ — $ 361

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of March 31, 2022 and December 31, 2021 consisted of the following (in millions): 2022 2021 Vehicles $ 10,083 $ 10,018 Aircraft 22,286 21,973 Land 2,135 2,140 Buildings 5,865 5,802 Building and leasehold improvements 5,004 5,010 Plant equipment 15,715 15,650 Technology equipment 2,848 2,798 Construction-in-progress 1,474 1,418 65,410 64,809 Less: Accumulated depreciation and amortization (31,815) (31,334) Property, Plant and Equipment, Net $ 33,595 $ 33,475 Property, plant and equipment purchased on account was $511 and $248 million as of March 31, 2022 and December 31, 2021, 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 impairment charges during the three months ended March 31, 2022. We recorded impairment charges of $24 million during the three months ended March 31, 2021, due to the reevaluation of certain facility projects.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and 2021 is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2022 2021 2022 2021 2022 2021 Three Months Ended March 31: Service cost $ 506 $ 553 $ 8 $ 7 $ 18 $ 19 Interest cost 488 488 20 19 12 10 Expected return on assets (820) (846) (1) (2) (20) (17) Amortization of prior service cost 23 33 — 2 — — Actuarial (gain) loss — (3,290) — — — — Settlement and curtailment (gain) loss — — — — (33) — Net periodic benefit (income) cost $ 197 $ (3,062) $ 27 $ 26 $ (23) $ 12 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. During the first quarter of 2022, we amended the UPS Canada Ltd. Retirement Plan to cease future benefit accruals effective December 31, 2023. We remeasured plan assets and pension benefit obligations for this plan as of March 31, 2022, resulting in a curtailment gain of $33 million ($24 million after-tax). The gain is included in Investment income and other in the statements of consolidated income for the quarter ended March 31, 2022. During the first three months of 2022, we contributed $31 and $14 million to our company-sponsored pension and U.S. postretirement medical benefit plans, respectively. We expect to contribute approximately $2.0 billion and $264 million over the remainder of the year to our pension and U.S. postretirement medical benefit plans, respectively. Multiemployer Benefit Plans We contribute to a number of multiemployer defined benefit and health and welfare plans under the terms of collective bargaining agreements that cover our union-represented employees. Our current collective bargaining agreements set forth the annual contribution increases allotted to the plans that we participate in, and we are in compliance with these contribution rates. These limitations on annual contribution rates will remain in effect throughout the terms of the existing collective bargaining agreements. As of March 31, 2022 and December 31, 2021, we had $828 and $830 million, respectively, recorded in Other Non-Current Liabilities on our consolidated balance sheets and $8 million as of March 31, 2022 and December 31, 2021, recorded in Other current liabilities on our consolidated balance sheets associated with our previous withdrawal from the New England Teamsters and Trucking Industry Pension Fund. 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 March 31, 2022 and December 31, 2021 was $849 and $963 million, respectively. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of this liability. UPS was a contributing employer to the Central States Pension Fund (“CSPF”) until 2007 at which time UPS withdrew from the CSPF 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. On April 28, 2022, the CSPF submitted an application to the PBGC for SFA. The PBGC has up to 120 days from the date of submission to review the application. The passage of the ARPA and the expected receipt of SFA by the CSPF currently suspends our obligation to provide additional coordinating benefits to the UPS Transfer Group through 2051. These matters also triggered a plan remeasurement under ASC 715. Accordingly, we remeasured the plan assets and pension benefit obligation of the UPS/IBT Plan as of March 31, 2021 resulting in an actuarial gain of $6.4 billion, reflecting a reduction of the liability for coordinating benefits of $5.1 billion and a gain from other updated actuarial assumptions of $1.3 billion. 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 327,000 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 3,200 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 1,700 airline mechanics who are covered by a collective bargaining agreement with Teamsters Local 2727 which becomes amendable November 1, 2023. In addition, approximately 3,300 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	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The following table indicates the allocation of goodwill as of March 31, 2022 and December 31, 2021 (in millions): U.S. Domestic International Supply Chain Solutions Consolidated December 31, 2021: $ 847 $ 403 $ 2,442 $ 3,692 Acquired — — — — Currency / Other — (7) (17) (24) March 31, 2022: $ 847 $ 396 $ 2,425 $ 3,668 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 March 31, 2022 and December 31, 2021 (in millions): Gross Carrying Accumulated Net Carrying March 31, 2022: Capitalized software $ 4,950 $ (3,315) $ 1,635 Licenses 43 (18) 25 Franchise rights 118 (37) 81 Customer relationships 727 (423) 304 Trade name 67 (3) 64 Trademarks, patents and other 157 (5) 152 Amortizable intangible assets $ 6,062 $ (3,801) $ 2,261 Indefinite-lived intangible assets 204 — 204 Total Intangible Assets, Net $ 6,266 $ (3,801) $ 2,465 December 31, 2021: Capitalized software $ 4,910 $ (3,275) $ 1,635 Licenses 58 (27) 31 Franchise rights 119 (37) 82 Customer relationships 733 (408) 325 Trade name 67 (1) 66 Trademarks, patents and other 158 (15) 143 Amortizable intangible assets $ 6,045 $ (3,763) $ 2,282 Indefinite-lived intangible assets 204 — 204 Total Intangible Assets, Net $ 6,249 $ (3,763) $ 2,486 As of March 31, 2022, 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 first quarter of 2022 that would indicate the carrying amount of our indefinite-lived intangible assets may be impaired as of the date of this report. Impairment tests for finite-lived intangible assets are performed when a triggering event occurs that may indicate that the carrying value of the intangible asset may not be recoverable. There were no impairment charges for finite-lived intangible assets during the three months ended March 31, 2022. We recorded $6 million in impairment charges for finite-lived intangible assets during the three months ended March 31, 2021.

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	DEBT AND FINANCING ARRANGEMENTS The carrying value of our outstanding debt obligations as of March 31, 2022 and December 31, 2021 consists of the following (in millions): Principal Carrying Value Maturity 2022 2021 Commercial paper $ — $ — $ — Fixed-rate senior notes: 2.450% senior notes 1,000 2022 1,002 1,010 2.350% senior notes 600 2022 600 600 2.500% senior notes 1,000 2023 999 998 2.800% senior notes 500 2024 498 498 2.200% senior notes 400 2024 399 399 3.900% senior notes 1,000 2025 996 996 2.400% senior notes 500 2026 499 498 3.050% senior notes 1,000 2027 994 994 3.400% senior notes 750 2029 746 746 2.500% senior notes 400 2029 397 397 4.450% senior notes 750 2030 744 744 6.200% senior notes 1,500 2038 1,484 1,484 5.200% senior notes 500 2040 494 494 4.875% senior notes 500 2040 491 491 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 492 492 3.750% senior notes 1,150 2047 1,137 1,137 4.250% senior notes 750 2049 743 743 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 400 2022 400 400 Floating-rate senior notes 500 2023 500 500 Floating-rate senior notes 1,039 2049-2067 1,027 1,027 Debentures: 7.620% debentures 276 2030 280 280 Pound Sterling Notes: 5.500% notes 87 2031 86 89 5.125% notes 596 2050 566 583 Euro Senior Notes: 0.375% senior notes 776 2023 774 791 1.625% senior notes 776 2025 773 791 1.000% senior notes 554 2028 551 564 1.500% senior notes 554 2032 551 564 Canadian senior notes: 2.125% senior notes 601 2024 600 585 Finance lease obligations 448 2022-2062 448 408 Facility notes and bonds 320 2029-2045 320 320 Other debt 3 2022-2025 3 5 Total debt $ 22,055 21,881 21,915 Less: current maturities (2,141) (2,131) Long-term debt $ 19,740 $ 19,784 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 March 31, 2022, 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. Reference Rate Reform Our floating-rate senior notes with maturities ranging from 2049 through 2067 bear interest at rates that reference the London Interbank Offer Rate ("LIBOR") for U.S. Dollars. As part of a broader program of reference rate reform, it is expected that U.S. Dollar LIBOR rates will cease to be published after June 2023. We are currently working to transition these notes to an alternative reference rate, and we anticipate that the Secured Overnight Financing Rate ("SOFR") will be adopted in accordance with recommendations of the Alternative Reference Rates Committee. Sources of Credit We maintain two credit agreements with a consortium of banks. The first of these agreements provides revolving credit facilities of $1.0 billion, and expires on December 6, 2022. Amounts outstanding under this agreement bear interest at a periodic fixed rate equal to the term SOFR rate, plus0.10% per annum and an applicable margin based on our then-current credit rating. The applicable margin from the credit pricing grid as of March 31, 2022 was 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) the Adjusted Term SOFR Rate for a one-month interest period plus 1.00%, may be used at our discretion. The second agreement provides revolving credit facilities of $2.0 billion, and expires on December 7, 2026. Amounts outstanding under this facility bear interest at a periodic fixed rate equal to the term SOFR rate plus 0.10% per annum and an applicable margin based on our then-current credit rating. The applicable margin from the credit pricing grid as of March 31, 2022 was 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) the Adjusted Term SOFR Rate for a one-month interest period plus 1.00%, plus an applicable margin, may be used at our discretion. If the credit ratings established by Standard & Poors and Moody's differ, the higher rating will be used, except in cases where the lower rating is two or more levels lower. In these circumstances, the rating one step below the higher rating will be used. 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 March 31, 2022. Debt Covenants Our existing debt instruments and credit facilities subject us to certain financial covenants. As of March 31, 2022, 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 March 31, 2022, 10% of net tangible assets was equivalent to $4.7 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 $23.3 and $25.1 billion as of March 31, 2022 and December 31, 2021, 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	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	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. We recognize a right-of-use ("ROU") asset and lease obligation for all leases greater than twelve months. 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. Determining the lease term and amount of lease payments to include in the calculation of the ROU asset and lease obligation for leases containing options requires the use of judgment to determine whether the exercise of an option is reasonably certain and whether the optional period and payments should be included in the calculation of the associated ROU asset and lease obligation. 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 obligation 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 138 years. Aircraft In addition to the aircraft that we own, we have leases for 317 aircraft. Of these leased aircraft, 21 are classified as finance leases, 18 are classified as operating leases and the remaining 278 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. A 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 obligation. 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 obligation. 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 the variable nature of these costs, these are expensed as incurred and are not included in the ROU asset and associated lease obligation. The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows (in millions): 2022 2021 Operating lease costs $ 183 $ 175 Finance lease costs: Amortization of assets 28 23 Interest on lease liabilities 4 4 Total finance lease costs 32 27 Variable lease costs 68 65 Short-term lease costs 302 279 Total lease costs $ 585 $ 546 In addition to the lease costs disclosed in the table above, we monitor all lease categories for any indicators that the carrying value of the assets may not be recoverable. There were no impairments recognized during the three months ended March 31, 2022 and 2021. Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate): March 31, December 31, Operating Leases: Operating lease right-of-use assets $ 3,481 $ 3,562 Current maturities of operating leases $ 579 $ 580 Non-current operating leases 2,970 3,033 Total operating lease obligations $ 3,549 $ 3,613 Finance Leases: Property, plant and equipment, net $ 1,134 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 140 $ 129 Long-term debt and finance leases 308 279 Total finance lease obligations $ 448 $ 408 Weighted average remaining lease term (in years): Operating leases 11.5 11.7 Finance leases 7.6 8.0 Weighted average discount rate: Operating leases 1.95 % 1.94 % Finance leases 2.71 % 2.79 % Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 176 $ 171 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 18 13 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 119 $ 174 Finance leases 59 23 Maturities of lease obligations as of March 31, 2022 are as follows (in millions): Finance Leases Operating Leases 2022 $ 137 $ 478 2023 76 595 2024 52 497 2025 39 441 2026 33 395 Thereafter 197 1,663 Total lease payments 534 4,069 Less: Imputed interest (86) (520) Total lease obligations 448 3,549 Less: Current obligations (140) (579) Long-term lease obligations $ 308 $ 2,970 As of March 31, 2022, we had $347 million of additional leases which had not commenced. These leases will commence between 2022 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 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. We recognize a right-of-use ("ROU") asset and lease obligation for all leases greater than twelve months. 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. Determining the lease term and amount of lease payments to include in the calculation of the ROU asset and lease obligation for leases containing options requires the use of judgment to determine whether the exercise of an option is reasonably certain and whether the optional period and payments should be included in the calculation of the associated ROU asset and lease obligation. 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 obligation 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 138 years. Aircraft In addition to the aircraft that we own, we have leases for 317 aircraft. Of these leased aircraft, 21 are classified as finance leases, 18 are classified as operating leases and the remaining 278 are classified as short-term leases. A majority of the obligations associated with the aircraft classified as finance leases have been legally defeased. A 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 obligation. 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 obligation. 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 the variable nature of these costs, these are expensed as incurred and are not included in the ROU asset and associated lease obligation. The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows (in millions): 2022 2021 Operating lease costs $ 183 $ 175 Finance lease costs: Amortization of assets 28 23 Interest on lease liabilities 4 4 Total finance lease costs 32 27 Variable lease costs 68 65 Short-term lease costs 302 279 Total lease costs $ 585 $ 546 In addition to the lease costs disclosed in the table above, we monitor all lease categories for any indicators that the carrying value of the assets may not be recoverable. There were no impairments recognized during the three months ended March 31, 2022 and 2021. Supplemental information related to leases and location within our consolidated balance sheets are as follows (in millions, except lease term and discount rate): March 31, December 31, Operating Leases: Operating lease right-of-use assets $ 3,481 $ 3,562 Current maturities of operating leases $ 579 $ 580 Non-current operating leases 2,970 3,033 Total operating lease obligations $ 3,549 $ 3,613 Finance Leases: Property, plant and equipment, net $ 1,134 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 140 $ 129 Long-term debt and finance leases 308 279 Total finance lease obligations $ 448 $ 408 Weighted average remaining lease term (in years): Operating leases 11.5 11.7 Finance leases 7.6 8.0 Weighted average discount rate: Operating leases 1.95 % 1.94 % Finance leases 2.71 % 2.79 % Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 176 $ 171 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 18 13 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 119 $ 174 Finance leases 59 23 Maturities of lease obligations as of March 31, 2022 are as follows (in millions): Finance Leases Operating Leases 2022 $ 137 $ 478 2023 76 595 2024 52 497 2025 39 441 2026 33 395 Thereafter 197 1,663 Total lease payments 534 4,069 Less: Imputed interest (86) (520) Total lease obligations 448 3,549 Less: Current obligations (140) (579) Long-term lease obligations $ 308 $ 2,970 As of March 31, 2022, we had $347 million of additional leases which had not commenced. These leases will commence between 2022 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	3 Months Ended
	Mar. 31, 2022
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 assurances 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' appeal of this decision was denied; however, in the second quarter of 2022 the plaintiffs were granted discretionary review of these claims by the Kentucky Supreme Court. 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 International Commercial Air contracts. We cooperated with the DOJ in connection with its inquiry and, in the first quarter of 2022, resolved this matter for an immaterial amount. 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, we received a Statement of Objections issued by the CNMC. In July 2017, we 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. We 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. In November 2021, the Environmental Protection Agency (the "EPA") sent us an information request related to hazardous waste regulatory compliance at certain of our facilities. The EPA has indicated that it is investigating potential recordkeeping violations of the Resource Conservation and Recovery Act at those facilities. We are cooperating with the EPA. 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 the EPA as a result of this request. 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022, 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 March 31, 2022, 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 months ended March 31, 2022 and 2021 (in millions, except per share amounts): 2022 2021 Shares Dollars Shares Dollars Class A Common Stock: Balance at beginning of period 138 $ 2 147 $ 2 Common stock purchases — — — Stock award plans 4 4 — Common stock issuances 1 1 — Conversions of class A to class B common stock (3) (4) — Class A shares outstanding at end of period 140 $ 2 148 $ 2 Class B Common Stock: Balance at beginning of period 732 $ 7 718 $ 7 Common stock purchases (1) — — Conversions of class A to class B common stock 3 4 — Class B shares outstanding at end of period 734 $ 7 722 $ 7 Additional Paid-In Capital: Balance at beginning of period $ 1,343 $ 865 Common stock purchases (260) — Stock award plans (35) 30 Common stock issuances 183 154 Balance at end of period $ 1,231 $ 1,049 Retained Earnings: Balance at beginning of period $ 16,179 $ 6,896 Net income attributable to controlling interests 2,662 4,792 Dividends ($1.52 and $1.02 per share) (1) (1,406) (938) Other (2) (2) Balance at end of period $ 17,433 $ 10,748 Non-Controlling Interests: Balance at beginning of period $ 16 $ 12 Change in non-controlling interest 2 — Balance at end of period $ 18 $ 12 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $122 and $80 million as of March 31, 2022 and 2021, respectively, that were settled in shares of class A common stock. In August 2021, the Board of Directors approved a share repurchase authorization for $5.0 billion of class A and class B common stock. During the first quarter of 2022, we repurchased 1.2 million shares of class B common stock for $260 million under this program ($254 million in repurchases is reported on the statement of consolidated cash flows due to the timing of settlements). As of March 31, 2022, we had $4.2 billion of our share repurchase authorization available. We anticipate our share repurchases will be approximately $2.0 billion for all of 2022. 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, this 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 other comprehensive income 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 accumulated other comprehensive income for the three months ended March 31, 2022 and 2021 was as follows (in millions): Three Months Ended March 31: 2022 2021 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (1,162) $ (981) Translation adjustment (net of tax effect of $0 and $30) (40) (82) Balance at end of period (1,202) (1,063) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period (1) 6 Current period changes in fair value (net of tax effect of $(2) and $0) (6) (1) Reclassification to earnings (net of tax effect of $0 and $0) — (3) Balance at end of period (7) 2 Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period (17) (223) Current period changes in fair value (net of tax effect of $23 and $39) 72 124 Reclassification to earnings (net of tax effect of $(9) and $(3)) (29) (10) Balance at end of period 26 (109) Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (2,098) (5,915) Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $11 and $1,544) 31 4,901 Reclassification to earnings (net of tax effect of $(3) and $(780)) (7) (2,475) Balance at end of period (2,074) (3,489) Accumulated other comprehensive income (loss) at end of period $ (3,257) $ (4,659) Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2022 and 2021 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement Three Months Ended March 31: 2022 2021 Unrealized gain (loss) on marketable securities: Realized gain (loss) on sale of securities $ — $ 3 Investment income and other Income tax (expense) benefit — — Income tax expense Impact on net income — 3 Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (3) (2) Interest expense Foreign currency exchange contracts 41 15 Revenue Income tax (expense) benefit (9) (3) Income tax expense Impact on net income 29 10 Net income Unrecognized pension and postretirement benefit costs: Prior service costs (23) (35) Investment income and other Remeasurement of benefit obligation — 3,290 Investment income and other Curtailment of benefit obligation 33 — Investment income and other Income tax (expense) benefit (3) (780) Income tax expense Impact on net income 7 2,475 Net income Total amount reclassified for the period $ 36 $ 2,488 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 S hareowners’ 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 months ended March 31, 2022 and 2021 was as follows (in millions): 2022 2021 Three Months Ended March 31: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 16 $ 20 Reinvested dividends — — Benefit payments (4) (5) Balance at end of period $ 12 $ 15 Treasury Stock: Balance at beginning of period — $ (16) — $ (20) Reinvested dividends — — — — Benefit payments — 4 — 5 Balance at end of period — $ (12) — $ (15)

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We have two reportable segments: U.S. Domestic Package and International Package, which are together referred to as our global small package operations. Our remaining businesses are reported as Supply Chain Solutions. Global small 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 Indian Sub-Continent, Middle East and Africa. Supply Chain Solutions Supply Chain Solutions includes our Forwarding, Logistics, Coyote, Marken, UPS Mail Innovations and other businesses. 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 businesses within this segment include The UPS Store, UPS Capital and Roadie. UPS Freight was included within this segment until its divestiture in the second quarter of 2021. 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 that require us to make estimates that impact the amount of each expense category that is attributed to each segment. Changes in these estimates would directly impact the expense allocated to each segment, and therefore the operating profit of each reporting segment. We periodically refine our allocation methodologies to reflect changes in our business. Results of operations for the three months ended March 31, 2022 and 2021 are as follows (in millions): Three Months Ended 2022 2021 Revenue: U.S. Domestic Package $ 15,124 $ 14,010 International Package 4,876 4,607 Supply Chain Solutions 4,378 4,291 Consolidated revenue $ 24,378 $ 22,908 Operating Profit: U.S. Domestic Package $ 1,662 $ 1,359 International Package 1,116 1,085 Supply Chain Solutions 473 321 Consolidated operating profit $ 3,251 $ 2,765

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The earnings per share amounts are the same for class A and class B common shares as the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation. The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2022 and 2021 (in millions, except per share amounts): Three Months Ended 2022 2021 Numerator: Net income attributable to common shareowners $ 2,662 $ 4,792 Denominator: Weighted average shares 871 867 Vested portion of restricted units 3 5 Denominator for basic earnings per share 874 872 Effect of dilutive securities: Restricted units 4 3 Stock options 1 1 Denominator for diluted earnings per share 879 876 Basic earnings per share $ 3.05 $ 5.50 Diluted earnings per share $ 3.03 $ 5.47 Diluted earnings per share for the three months ended March 31, 2022 and 2021 excluded the effect of 0.1 and 0.2 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	3 Months Ended
	Mar. 31, 2022
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. As of March 31, 2022 and December 31, 2021, we had agreements with all of our active counterparties (covering all of our derivative positions) which contained 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 March 31, 2022 and December 31, 2021, we held cash collateral of $253 and $260 million, respectively, under these agreements. This collateral is included in Cash and cash equivalents in the consolidated balance sheets and our use of it is not restricted. As of March 31, 2022, we were required to post $2 million of cash collateral with our counterparties. As of December 31, 2021, no collateral was required to be posted with our counterparties. Events such as a counterparty credit rating downgrade (depending on the ultimate rating level) could also allow us to take additional protective measures such as the early termination of trades. Alternatively, we could be required to provide additional collateral or terminate transactions with certain counterparties in the event of a downgrade of our credit rating. The amount of collateral required would be determined by the net fair value of the associated derivatives with each counterparty. We have not historically incurred, and do not expect to incur in the future, any losses as a result of counterparty default. Types of Hedges Commodity Risk Management Currently, the fuel surcharges that we apply to our domestic and international package 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 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 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 other comprehensive income 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 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 other comprehensive income. We periodically hedge the forecasted fixed-coupon interest payments associated with anticipated debt offerings by using forward starting interest rate swaps, interest rate locks or similar derivatives. These agreements effectively lock a portion of our interest rate exposure between the time the agreement is entered into and the date when the debt offering is completed, thereby mitigating the impact of interest rate changes on future interest expense. These derivatives are settled commensurate with the issuance of the debt, and any gain or loss upon settlement is amortized as an adjustment to the effective interest yield on the debt. Outstanding Positions As of March 31, 2022 and December 31, 2021, the notional amounts of our outstanding derivative positions were as follows (in millions): March 31, 2022 December 31, 2021 Currency hedges: Euro EUR 4,215 4,257 British Pound Sterling GBP 1,394 1,402 Canadian Dollar CAD 1,672 1,633 Hong Kong Dollar HKD 4,286 4,033 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 1,000 1,000 Floating to Fixed Interest Rate Swaps USD 28 28 As of March 31, 2022 and December 31, 2021, we had no outstanding commodity hedge positions. Our fixed to floating interest rate swaps are designated as a fair value hedge of our 2.450% fixed rate notes that mature in October 2022. These instruments utilize LIBOR as the reference rate to determine the floating interest rate to be paid. As these instruments will settle before the applicable U.S. Dollar LIBOR rate ceases to be published in June 2023, we have not evaluated the application of ASC Topic 848 to these instruments. 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 as of March 31, 2022 and December 31, 2021 (in millions): Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Asset Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 128 $ 100 $ 109 $ 82 Interest rate contracts Other current assets Level 2 3 11 3 11 Foreign currency exchange contracts Other non-current assets Level 2 148 123 114 90 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 1 2 1 2 Total Asset Derivatives $ 280 $ 236 $ 227 $ 185 Fair Value Hierarchy Level Gross Amounts Presented in Net Amounts if Right of Liability Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 19 $ 19 $ — $ 1 Foreign currency exchange contracts Other non-current liabilities Level 2 34 33 — — Interest rate contracts Other non-current liabilities Level 2 8 10 8 10 Total Liability Derivatives $ 61 $ 62 $ 8 $ 11 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 March 31, 2022 and December 31, 2021 we did not have any derivatives that were classified as Level 1 or Level 3 within the fair value hierarchy. Balance Sheet Location of Hedged Item in Fair Value Hedges The following table indicates the amounts that were recorded in the consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of March 31, 2022 and December 31, 2021 (in millions): Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount Cumulative Amount Carrying Amount Cumulative Amount March 31, 2022 March 31, 2022 December 31, 2021 December 31, 2021 Long-term debt and finance leases $ 1,282 $ 8 $ 1,290 $ 16 The cumulative amount of fair value hedging losses remaining for any hedged assets and liabilities for which hedge accounting has been discontinued as of March 31, 2022 is $5 million. These amounts will be recognized over the next 8 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 months ended March 31, 2022 and 2021 (in millions): Three Months Ended March 31, 2022 2021 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 $ — $ 8 $ — $ — $ 6 $ — Derivatives designated as hedging instruments — (8) — — (6) — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (3) — — (2) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 41 — — 15 — — 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 $ 41 $ (3) $ — $ 15 $ (2) $ — The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the three months ended March 31, 2022 and 2021 for those derivatives designated as cash flow hedges (in millions): Three Months Ended March 31: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2022 2021 Interest rate contracts $ 3 $ 3 Foreign currency exchange contracts 92 160 Total $ 95 $ 163 As of March 31, 2022, there were $99 million of unrealized 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 March 31, 2023. 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 10 years. The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the three months ended March 31, 2022 and 2021 for those instruments designated as net investment hedges (in millions): Three Months Ended March 31: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2022 2021 Foreign denominated debt $ 46 $ 124 Total $ 46 $ 124 Additionally, we maintain foreign currency exchange forward contracts that are not designated as hedges. 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 foreign currency exchange forward contracts by entering into offsetting foreign currency exchange positions with different counterparties. As part of this process, we de-designate our original 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 foreign currency exchange forward contracts not designated as hedges for the three months ended March 31, 2022 and 2021 (in millions): Three Months Ended March 31: Derivative Instruments Not Designated in Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income 2022 2021 Foreign currency exchange contracts Investment income and other $ (28) $ (6) Total $ (28) $ (6)

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Our effective tax rate for the three months ended March 31, 2022 was approximately 21.5% compared with 22.8% in the same period of 2021. The recognition in income tax of excess tax benefits related to share-based compensation reduced our effective rate by 2.4% for the quarter compared to 1.1% in the same period of 2021. Other items that impacted our effective tax rate in the first quarter of 2022 compared to 2021 included unfavorable changes in uncertain tax positions and favorable changes in our jurisdictional earnings mix. As discussed in our Annual Report on Form 10-K for the year ended December 31, 2021, we have recognized liabilities for uncertain tax positions and 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 of 2022, we recognized an immaterial income tax expense related to a pre-tax curtailment gain of $33 million on the UPS Canada Ltd. Retirement Plan. 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 foreign taxes. In the first quarter of 2021, we recognized an income tax expense of $788 million related to a pre-tax mark-to-market gain of $3.3 billion on the UPS/IBT Full-Time Employee Pension Plan. 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 17, we recognized pre-tax transformation strategy costs of $55 million in the first quarter of 2022 compared to $118 million in the same period of 2021. As a result, we recorded an income tax benefit of $12 million in the first quarter compared to $28 million in the same period of 2021. The income tax 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. The 2021 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. We recorded a pre-tax valuation allowance against assets held for sale of $66 million during the first quarter of 2021, resulting in an additional income tax benefit of $16 million. This income tax benefit 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. Beginning in 2012, we were granted a tax incentive for certain of our non-U.S. operations, which was effective through December 31, 2021. During the first quarter of 2022, the tax incentive was renegotiated and extended. The tax incentive is conditioned upon our meeting specific employment and investment thresholds, which we expect to meet. The impact of the tax incentive did not significantly change our effective tax rate for the first quarter of 2022 compared to the first quarter of 2021.

TRANSFORMATION STRATEGY (Notes)

TRANSFORMATION STRATEGY (Notes)	3 Months Ended
	Mar. 31, 2022
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 transformation strategy costs for the three months ended March 31, 2022 and 2021 (in millions): Three Months Ended 2022 2021 Transformation Strategy Costs: Compensation and benefits $ 33 $ 76 Total other expenses 22 42 Total Transformation Strategy Costs $ 55 $ 118 Income Tax Benefit from Transformation Strategy Costs (12) (28) After Tax Transformation Strategy Costs $ 43 $ 90

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and our results of operations and cash flows for the three months ended March 31, 2022 and 2021. 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, 2021.
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 March 31, 2022 and December 31, 2021. The fair values of our investment securities are disclosed in note 5, our recognized multiemployer pension withdrawal liabilities in note 7, our short- and long-term debt in note 9 and our derivative instruments in note 15. We apply a fair value hierarchy (Levels 1, 2 and 3) when measuring and reporting items at fair value. Fair values are based on listed market prices (Level 1), when such prices are available. To the extent that listed market prices are not available, fair value is determined based on other relevant factors, including dealer price quotations (Level 2). If listed market prices or other relevant factors are not available, inputs are developed from unobservable data reflecting our own assumptions and include situations where there is little or no market activity for the asset or liability (Level 3). We utilized Level 1 inputs in the fair value hierarchy 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. 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 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. For accounting standards adopted in the period ended March 31, 2021, refer to note 1 to our audited, consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021. Accounting Standards Issued But Not Yet Effective Accounting pronouncements issued before, but not effective until after, March 31, 2022, 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 March 31, 2022. 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)	3 Months Ended
	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Investment Impairments	Investment Impairments We have concluded that no material impairment losses existed as of March 31, 2022. 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)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue Three Months Ended 2022 2021 Revenue: Next Day Air $ 2,594 $ 2,331 Deferred 1,420 1,260 Ground 11,110 10,419 U.S. Domestic Package 15,124 14,010 Domestic 851 928 Export 3,778 3,493 Cargo & Other 247 186 International Package 4,876 4,607 Forwarding 2,589 2,072 Logistics 1,251 1,104 Freight — 767 Other 538 348 Supply Chain Solutions 4,378 4,291 Consolidated revenue $ 24,378 $ 22,908

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Weighted-Average Assupmtions and Fair Values Used of Performance Units Granted	The weighted-average assumptions used and the weighted-average fair values of the LTIP awards granted in 2022 and 2021 are as follows: 2022 2021 Risk-free interest rate 2.29 % 0.19 % Expected volatility 31.90 % 30.70 % Weighted-average fair value of RPUs granted $ 230.67 $ 168.05 Share payout 107.50 % 102.39 %
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions	The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used and the weighted-average fair values of options granted in 2022 and 2021 are as follows: 2022 2021 Expected dividend yield 2.35 % 3.31 % Risk-free interest rate 2.39 % 0.84 % Expected life (in years) 7.5 7.5 Expected volatility 25.04 % 23.15 % Weighted-average fair value of options granted $ 48.45 $ 23.71

CASH AND INVESTMENTS (Tables)

CASH AND INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Marketable Securities [Abstract]
Available-for-sale Securities	The following is a summary of marketable securities classified as trading and available-for-sale as of March 31, 2022 and December 31, 2021 (in millions): Cost Unrealized Unrealized Estimated March 31, 2022: 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 203 — (4) 199 Mortgage and asset-backed debt securities 6 — — 6 Corporate debt securities 125 — (3) 122 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 342 — (7) 335 Total current marketable securities $ 344 $ — $ (7) $ 337 Cost Unrealized Unrealized Estimated December 31, 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 199 2 (1) 200 Mortgage and asset-backed debt securities 7 — — 7 Corporate debt securities 121 — — 121 U.S. state and local municipal debt securities 5 — — 5 Non-U.S. government debt securities 3 — — 3 Total available-for-sale marketable securities 335 2 (1) 336 Total current marketable securities $ 337 $ 2 $ (1) $ 338
Investments Classified by Contractual Maturity Date	The amortized cost and estimated fair value of marketable securities as of March 31, 2022 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 $ 34 $ 34 Due after one year through three years 307 300 Due after three years through five years 1 1 Due after five years — — 342 335 Equity securities 2 2 $ 344 $ 337
Cash and Cash Equivalents and Restricted Cash	A reconciliation of cash and cash equivalents and restricted cash from the consolidated balance sheets to the statements of consolidated cash flows is shown below (in millions): March 31, 2022 December 31, 2021 March 31, 2021 Cash and cash equivalents $ 12,208 $ 10,255 $ 7,731 Restricted cash — — — Total cash, cash equivalents and restricted cash $ 12,208 $ 10,255 7,731
Fair Value, Assets Measured on Recurring Basis	The following table presents information about our investments measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices Significant Other Significant Balance March 31, 2022: Marketable Securities: U.S. government and agency debt securities $ 199 $ — $ — $ 199 Mortgage and asset-backed debt securities — 6 — 6 Corporate debt securities — 122 — 122 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 199 138 — 337 Other non-current investments 21 — — 21 Total $ 220 $ 138 $ — $ 358 December 31, 2021: Marketable Securities: U.S. government and agency debt securities $ 200 $ — $ — $ 200 Mortgage and asset-backed debt securities — 7 — 7 Corporate debt securities — 121 — 121 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 200 138 — 338 Other non-current investments 23 — — 23 Total $ 223 $ 138 $ — $ 361

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment as of March 31, 2022 and December 31, 2021 consisted of the following (in millions): 2022 2021 Vehicles $ 10,083 $ 10,018 Aircraft 22,286 21,973 Land 2,135 2,140 Buildings 5,865 5,802 Building and leasehold improvements 5,004 5,010 Plant equipment 15,715 15,650 Technology equipment 2,848 2,798 Construction-in-progress 1,474 1,418 65,410 64,809 Less: Accumulated depreciation and amortization (31,815) (31,334) Property, Plant and Equipment, Net $ 33,595 $ 33,475

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and 2021 is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2022 2021 2022 2021 2022 2021 Three Months Ended March 31: Service cost $ 506 $ 553 $ 8 $ 7 $ 18 $ 19 Interest cost 488 488 20 19 12 10 Expected return on assets (820) (846) (1) (2) (20) (17) Amortization of prior service cost 23 33 — 2 — — Actuarial (gain) loss — (3,290) — — — — Settlement and curtailment (gain) loss — — — — (33) — Net periodic benefit (income) cost $ 197 $ (3,062) $ 27 $ 26 $ (23) $ 12

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table indicates the allocation of goodwill as of March 31, 2022 and December 31, 2021 (in millions): U.S. Domestic International Supply Chain Solutions Consolidated December 31, 2021: $ 847 $ 403 $ 2,442 $ 3,692 Acquired — — — — Currency / Other — (7) (17) (24) March 31, 2022: $ 847 $ 396 $ 2,425 $ 3,668
Schedule of Intangible Assets (Excluding Goodwill)	The following is a summary of intangible assets as of March 31, 2022 and December 31, 2021 (in millions): Gross Carrying Accumulated Net Carrying March 31, 2022: Capitalized software $ 4,950 $ (3,315) $ 1,635 Licenses 43 (18) 25 Franchise rights 118 (37) 81 Customer relationships 727 (423) 304 Trade name 67 (3) 64 Trademarks, patents and other 157 (5) 152 Amortizable intangible assets $ 6,062 $ (3,801) $ 2,261 Indefinite-lived intangible assets 204 — 204 Total Intangible Assets, Net $ 6,266 $ (3,801) $ 2,465 December 31, 2021: Capitalized software $ 4,910 $ (3,275) $ 1,635 Licenses 58 (27) 31 Franchise rights 119 (37) 82 Customer relationships 733 (408) 325 Trade name 67 (1) 66 Trademarks, patents and other 158 (15) 143 Amortizable intangible assets $ 6,045 $ (3,763) $ 2,282 Indefinite-lived intangible assets 204 — 204 Total Intangible Assets, Net $ 6,249 $ (3,763) $ 2,486

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The carrying value of our outstanding debt obligations as of March 31, 2022 and December 31, 2021 consists of the following (in millions): Principal Carrying Value Maturity 2022 2021 Commercial paper $ — $ — $ — Fixed-rate senior notes: 2.450% senior notes 1,000 2022 1,002 1,010 2.350% senior notes 600 2022 600 600 2.500% senior notes 1,000 2023 999 998 2.800% senior notes 500 2024 498 498 2.200% senior notes 400 2024 399 399 3.900% senior notes 1,000 2025 996 996 2.400% senior notes 500 2026 499 498 3.050% senior notes 1,000 2027 994 994 3.400% senior notes 750 2029 746 746 2.500% senior notes 400 2029 397 397 4.450% senior notes 750 2030 744 744 6.200% senior notes 1,500 2038 1,484 1,484 5.200% senior notes 500 2040 494 494 4.875% senior notes 500 2040 491 491 3.625% senior notes 375 2042 368 368 3.400% senior notes 500 2046 492 492 3.750% senior notes 1,150 2047 1,137 1,137 4.250% senior notes 750 2049 743 743 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 400 2022 400 400 Floating-rate senior notes 500 2023 500 500 Floating-rate senior notes 1,039 2049-2067 1,027 1,027 Debentures: 7.620% debentures 276 2030 280 280 Pound Sterling Notes: 5.500% notes 87 2031 86 89 5.125% notes 596 2050 566 583 Euro Senior Notes: 0.375% senior notes 776 2023 774 791 1.625% senior notes 776 2025 773 791 1.000% senior notes 554 2028 551 564 1.500% senior notes 554 2032 551 564 Canadian senior notes: 2.125% senior notes 601 2024 600 585 Finance lease obligations 448 2022-2062 448 408 Facility notes and bonds 320 2029-2045 320 320 Other debt 3 2022-2025 3 5 Total debt $ 22,055 21,881 21,915 Less: current maturities (2,141) (2,131) Long-term debt $ 19,740 $ 19,784

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease Cost	The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows (in millions): 2022 2021 Operating lease costs $ 183 $ 175 Finance lease costs: Amortization of assets 28 23 Interest on lease liabilities 4 4 Total finance lease costs 32 27 Variable lease costs 68 65 Short-term lease costs 302 279 Total lease costs $ 585 $ 546 Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 176 $ 171 Operating cash flows from finance leases 1 1 Financing cash flows from finance leases 18 13 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 119 $ 174 Finance leases 59 23
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): March 31, December 31, Operating Leases: Operating lease right-of-use assets $ 3,481 $ 3,562 Current maturities of operating leases $ 579 $ 580 Non-current operating leases 2,970 3,033 Total operating lease obligations $ 3,549 $ 3,613 Finance Leases: Property, plant and equipment, net $ 1,134 $ 1,225 Current maturities of long-term debt, commercial paper and finance leases $ 140 $ 129 Long-term debt and finance leases 308 279 Total finance lease obligations $ 448 $ 408 Weighted average remaining lease term (in years): Operating leases 11.5 11.7 Finance leases 7.6 8.0 Weighted average discount rate: Operating leases 1.95 % 1.94 % Finance leases 2.71 % 2.79 %
Operating Leases Maturity Schedule	Maturities of lease obligations as of March 31, 2022 are as follows (in millions): Finance Leases Operating Leases 2022 $ 137 $ 478 2023 76 595 2024 52 497 2025 39 441 2026 33 395 Thereafter 197 1,663 Total lease payments 534 4,069 Less: Imputed interest (86) (520) Total lease obligations 448 3,549 Less: Current obligations (140) (579) Long-term lease obligations $ 308 $ 2,970
Finance Leases Maturity Schedule	Maturities of lease obligations as of March 31, 2022 are as follows (in millions): Finance Leases Operating Leases 2022 $ 137 $ 478 2023 76 595 2024 52 497 2025 39 441 2026 33 395 Thereafter 197 1,663 Total lease payments 534 4,069 Less: Imputed interest (86) (520) Total lease obligations 448 3,549 Less: Current obligations (140) (579) Long-term lease obligations $ 308 $ 2,970

SHAREOWNERS' EQUITY (Tables)

SHAREOWNERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	2022 2021 Shares Dollars Shares Dollars Class A Common Stock: Balance at beginning of period 138 $ 2 147 $ 2 Common stock purchases — — — Stock award plans 4 4 — Common stock issuances 1 1 — Conversions of class A to class B common stock (3) (4) — Class A shares outstanding at end of period 140 $ 2 148 $ 2 Class B Common Stock: Balance at beginning of period 732 $ 7 718 $ 7 Common stock purchases (1) — — Conversions of class A to class B common stock 3 4 — Class B shares outstanding at end of period 734 $ 7 722 $ 7 Additional Paid-In Capital: Balance at beginning of period $ 1,343 $ 865 Common stock purchases (260) — Stock award plans (35) 30 Common stock issuances 183 154 Balance at end of period $ 1,231 $ 1,049 Retained Earnings: Balance at beginning of period $ 16,179 $ 6,896 Net income attributable to controlling interests 2,662 4,792 Dividends ($1.52 and $1.02 per share) (1) (1,406) (938) Other (2) (2) Balance at end of period $ 17,433 $ 10,748 Non-Controlling Interests: Balance at beginning of period $ 16 $ 12 Change in non-controlling interest 2 — Balance at end of period $ 18 $ 12 (1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $122 and $80 million as of March 31, 2022 and 2021, respectively, that were settled in shares of class A common stock.
Schedule of Accumulated Other Comprehensive Income (Loss)	The activity in accumulated other comprehensive income for the three months ended March 31, 2022 and 2021 was as follows (in millions): Three Months Ended March 31: 2022 2021 Foreign currency translation gain (loss), net of tax: Balance at beginning of period $ (1,162) $ (981) Translation adjustment (net of tax effect of $0 and $30) (40) (82) Balance at end of period (1,202) (1,063) Unrealized gain (loss) on marketable securities, net of tax: Balance at beginning of period (1) 6 Current period changes in fair value (net of tax effect of $(2) and $0) (6) (1) Reclassification to earnings (net of tax effect of $0 and $0) — (3) Balance at end of period (7) 2 Unrealized gain (loss) on cash flow hedges, net of tax: Balance at beginning of period (17) (223) Current period changes in fair value (net of tax effect of $23 and $39) 72 124 Reclassification to earnings (net of tax effect of $(9) and $(3)) (29) (10) Balance at end of period 26 (109) Unrecognized pension and postretirement benefit costs, net of tax: Balance at beginning of period (2,098) (5,915) Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $11 and $1,544) 31 4,901 Reclassification to earnings (net of tax effect of $(3) and $(780)) (7) (2,475) Balance at end of period (2,074) (3,489) Accumulated other comprehensive income (loss) at end of period $ (3,257) $ (4,659)
Gains (Losses) Reclassified from AOCI	Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2022 and 2021 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement Three Months Ended March 31: 2022 2021 Unrealized gain (loss) on marketable securities: Realized gain (loss) on sale of securities $ — $ 3 Investment income and other Income tax (expense) benefit — — Income tax expense Impact on net income — 3 Net income Unrealized gain (loss) on cash flow hedges: Interest rate contracts (3) (2) Interest expense Foreign currency exchange contracts 41 15 Revenue Income tax (expense) benefit (9) (3) Income tax expense Impact on net income 29 10 Net income Unrecognized pension and postretirement benefit costs: Prior service costs (23) (35) Investment income and other Remeasurement of benefit obligation — 3,290 Investment income and other Curtailment of benefit obligation 33 — Investment income and other Income tax (expense) benefit (3) (780) Income tax expense Impact on net income 7 2,475 Net income Total amount reclassified for the period $ 36 $ 2,488 Net income
Activity in Deferred Compensation Program	Activity in the deferred compensation program for the three months ended March 31, 2022 and 2021 was as follows (in millions): 2022 2021 Three Months Ended March 31: Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of period $ 16 $ 20 Reinvested dividends — — Benefit payments (4) (5) Balance at end of period $ 12 $ 15 Treasury Stock: Balance at beginning of period — $ (16) — $ (20) Reinvested dividends — — — — Benefit payments — 4 — 5 Balance at end of period — $ (12) — $ (15)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Results of Operations	Results of operations for the three months ended March 31, 2022 and 2021 are as follows (in millions): Three Months Ended 2022 2021 Revenue: U.S. Domestic Package $ 15,124 $ 14,010 International Package 4,876 4,607 Supply Chain Solutions 4,378 4,291 Consolidated revenue $ 24,378 $ 22,908 Operating Profit: U.S. Domestic Package $ 1,662 $ 1,359 International Package 1,116 1,085 Supply Chain Solutions 473 321 Consolidated operating profit $ 3,251 $ 2,765

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2022 and 2021 (in millions, except per share amounts): Three Months Ended 2022 2021 Numerator: Net income attributable to common shareowners $ 2,662 $ 4,792 Denominator: Weighted average shares 871 867 Vested portion of restricted units 3 5 Denominator for basic earnings per share 874 872 Effect of dilutive securities: Restricted units 4 3 Stock options 1 1 Denominator for diluted earnings per share 879 876 Basic earnings per share $ 3.05 $ 5.50 Diluted earnings per share $ 3.03 $ 5.47

DERIVATIVE INSTRUMENTS AND RI_2

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	As of March 31, 2022 and December 31, 2021, the notional amounts of our outstanding derivative positions were as follows (in millions): March 31, 2022 December 31, 2021 Currency hedges: Euro EUR 4,215 4,257 British Pound Sterling GBP 1,394 1,402 Canadian Dollar CAD 1,672 1,633 Hong Kong Dollar HKD 4,286 4,033 Interest rate hedges: Fixed to Floating Interest Rate Swaps USD 1,000 1,000 Floating to Fixed Interest Rate Swaps USD 28 28
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	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 as of March 31, 2022 and December 31, 2021 (in millions): Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Asset Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 128 $ 100 $ 109 $ 82 Interest rate contracts Other current assets Level 2 3 11 3 11 Foreign currency exchange contracts Other non-current assets Level 2 148 123 114 90 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 1 2 1 2 Total Asset Derivatives $ 280 $ 236 $ 227 $ 185 Fair Value Hierarchy Level Gross Amounts Presented in Net Amounts if Right of Liability Derivatives Balance Sheet Location March 31, December 31, March 31, December 31, Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 19 $ 19 $ — $ 1 Foreign currency exchange contracts Other non-current liabilities Level 2 34 33 — — Interest rate contracts Other non-current liabilities Level 2 8 10 8 10 Total Liability Derivatives $ 61 $ 62 $ 8 $ 11 The following table indicates the amounts that were recorded in the consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of March 31, 2022 and December 31, 2021 (in millions): Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount Cumulative Amount Carrying Amount Cumulative Amount March 31, 2022 March 31, 2022 December 31, 2021 December 31, 2021 Long-term debt and finance leases $ 1,282 $ 8 $ 1,290 $ 16
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	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 months ended March 31, 2022 and 2021 (in millions): Three Months Ended March 31, 2022 2021 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 $ — $ 8 $ — $ — $ 6 $ — Derivatives designated as hedging instruments — (8) — — (6) — Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (3) — — (2) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 41 — — 15 — — 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 $ 41 $ (3) $ — $ 15 $ (2) $ —
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 months ended March 31, 2022 and 2021 for those derivatives designated as cash flow hedges (in millions): Three Months Ended March 31: Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2022 2021 Interest rate contracts $ 3 $ 3 Foreign currency exchange contracts 92 160 Total $ 95 $ 163 The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the three months ended March 31, 2022 and 2021 for those instruments designated as net investment hedges (in millions): Three Months Ended March 31: Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2022 2021 Foreign denominated debt $ 46 $ 124 Total $ 46 $ 124
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 foreign currency exchange forward contracts not designated as hedges for the three months ended March 31, 2022 and 2021 (in millions): Three Months Ended March 31: Derivative Instruments Not Designated in Location of Gain (Loss) Amount of Gain (Loss) Recognized in Income 2022 2021 Foreign currency exchange contracts Investment income and other $ (28) $ (6) Total $ (28) $ (6)

TRANSFORMATION STRATEGY x (Tabl

TRANSFORMATION STRATEGY x (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The table below presents transformation strategy costs for the three months ended March 31, 2022 and 2021 (in millions): Three Months Ended 2022 2021 Transformation Strategy Costs: Compensation and benefits $ 33 $ 76 Total other expenses 22 42 Total Transformation Strategy Costs $ 55 $ 118 Income Tax Benefit from Transformation Strategy Costs (12) (28) After Tax Transformation Strategy Costs $ 43 $ 90

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue
Revenue	$ 24,378	$ 22,908
Forwarding
Disaggregation of Revenue
Revenue	2,589	2,072
Logistics
Disaggregation of Revenue
Revenue	1,251	1,104
Freight
Disaggregation of Revenue
Revenue	0	767
Other
Disaggregation of Revenue
Revenue	538	348
U.S | Next Day Air
Disaggregation of Revenue
Revenue	2,594	2,331
U.S | Deferred
Disaggregation of Revenue
Revenue	1,420	1,260
U.S | Ground
Disaggregation of Revenue
Revenue	11,110	10,419
International | Domestic
Disaggregation of Revenue
Revenue	851	928
International | Export
Disaggregation of Revenue
Revenue	3,778	3,493
International | Cargo & Other
Disaggregation of Revenue
Revenue	247	186
U.S. Domestic Package
Disaggregation of Revenue
Revenue	15,124	14,010
U.S. Domestic Package | U.S | Operating Segments
Disaggregation of Revenue
Revenue	15,124	14,010
International Package
Disaggregation of Revenue
Revenue	4,876	4,607
International Package | International | Operating Segments
Disaggregation of Revenue
Revenue	4,876	4,607
Supply Chain Solutions
Disaggregation of Revenue
Revenue	4,378	4,291
Supply Chain Solutions | Operating Segments
Disaggregation of Revenue
Revenue	$ 4,378	$ 4,291

Revenue Recognition - Narrative

Revenue Recognition - Narratives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Less: Allowance for credit losses	$ (136)		$ (128)
Provisions for doubtful receivables	54	$ 41
Contract assets	336		304
Deferred revenue	359		314
Deferred revenue, current	10		27
Deferred revenue, noncurrent	$ 26		$ 25

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Mar. 23, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 21, 2022	Feb. 09, 2022
Stockholders Equity Note [Line Items]
Stock compensation expense		$ 386	$ 315
Impairment charges on property plant and equipment		0	24
Accumulated Net Investment Gain (Loss) Attributable to Parent
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect		0	0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Stockholders Equity Note [Line Items]
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $11 and $1,544)		31	4,901
Reclassification to earnings (net of tax effect of and )		(7)	(2,475)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities, tax effect		$ 11	$ 1,544
Management Incentive Award
Stockholders Equity Note [Line Items]
Closing New York Stock Exchange price					$ 225.07
Management Incentive Award | International employee
Stockholders Equity Note [Line Items]
Closing New York Stock Exchange price				$ 218.56
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Award vesting period		3 years
Long-Term Incentive Performance Award | Restricted Units | Year 2021
Stockholders Equity Note [Line Items]
Weighted-average fair value of options granted (usd per share)	$ 230.67
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		100,000
Weighted-average fair value of options granted (usd per share)	$ 214.58

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Employee Stock Options Granted as Determined by Black-Scholes Valuation Model Assumptions (Detail) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Nonqualified Stock Options
Stockholders Equity Note [Line Items]
Risk-free interest rate	2.39%	0.84%
Expected volatility	25.04%	23.15%
Weighted-average fair value of options granted (usd per share)	$ 48.45	$ 23.71
Expected life (in years)	7 years 6 months	7 years 6 months
Expected dividend yield	2.35%	3.31%
Long-Term Incentive Performance Award
Stockholders Equity Note [Line Items]
Risk-free interest rate	2.29%	0.19%
Expected volatility	31.90%	30.70%
Weighted-average fair value of RPU's granted (usd per share)	$ 230.67	$ 168.05
Share payout	107.50%	102.39%

CASH AND INVESTMENTS - Summary

CASH AND INVESTMENTS - Summary of Marketable Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
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	342	335
Debt Securities, Available-for-sale, Current	335	336
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	7	1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	2
Total Amortized Cost	344	337
Marketable Securities, Gross Unrealized Gain	0	2
Marketable Securities, Gross Unrealized Loss	(7)	(1)
Total Estimated Fair Value	337	338
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	203	199
Debt Securities, Available-for-sale, Current	199	200
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	4	1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	2
Mortgage and asset-backed debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	6	7
Debt Securities, Available-for-sale, Current	6	7
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
Corporate debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	125	121
Debt Securities, Available-for-sale, Current	122	121
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	3	0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	0	0
U.S. state and local municipal debt securities
Schedule of Marketable Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	5	5
Debt Securities, Available-for-sale, Current	5	5
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	3
Debt Securities, Available-for-sale, Current	3	3
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	Mar. 31, 2022	Dec. 31, 2021
Cost
Due in one year or less	$ 34
Due after one year through three years	307
Due after three years through five years	1
Due after five years	0
Marketable Securities, Debt Maturities, Amortized Cost, Total	342
Equity securities	2
Total Amortized Cost	344	$ 337
Estimated Fair Value
Due in one year or less	34
Due after one year through three years	300
Due after three years through five years	1
Due after five years	0
Marketable Securities, Debt Maturities, Fair Value, Total	335
Equity securities	2
Total Estimated Fair Value	$ 337	$ 338

CASH AND INVESTMENTS - Addition

CASH AND INVESTMENTS - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Gain (Loss) on Securities [Line Items]
Other than temporary impairment losses	$ 0
Investments and Restricted Cash	22,000,000	$ 26,000,000
cash held in escrow [Member]
Gain (Loss) on Securities [Line Items]
Restricted Cash and Cash Equivalents, Noncurrent	1,000,000	3,000,000
Variable life insurance policy
Gain (Loss) on Securities [Line Items]
Investments and Restricted Cash	$ 21,000,000	$ 23,000,000

CASH AND INVESTMENTS - Cash Det

CASH AND INVESTMENTS - Cash Details (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 12,208	$ 10,255	$ 7,731
Restricted cash	0	0	0
Total cash, cash equivalents and restricted cash	$ 12,208	$ 10,255	$ 7,731	$ 5,910

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	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 358	$ 361
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	337	338
Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	199	200
Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6	7
Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	122	121
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	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	5	5
Other Non-Current Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	21	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	220	223
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	199	200
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	199	200
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	21	23
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	138	138
Significant Other Observable Inputs (Level 2) | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	138	138
Significant Other Observable Inputs (Level 2) | Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Significant Other Observable Inputs (Level 2) | Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	6	7
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	122	121
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	3
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	5
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

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 65,410		$ 64,809
Less: Accumulated depreciation and amortization	(31,815)		(31,334)
Property, plant and equipment, net	33,595		33,475
Impairment charges on property plant and equipment	0	$ 24
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	10,083		10,018
Aircraft
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	22,286		21,973
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,135		2,140
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,865		5,802
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,004		5,010
Plant equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15,715		15,650
Technology equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,848		2,798
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,474		$ 1,418

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, plant and equipment purchased on account	$ 511		$ 248
Impairment charges on property plant and equipment	$ 0	$ 24

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
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Pension Plan | U.S. Pension Benefits
Net Periodic Cost:
Service cost	$ 506	$ 553
Interest cost	488	488
Expected return on assets	(820)	(846)
Amortization of prior service cost	23	33
Actuarial (gain) loss	0	(3,290)
Settlement and curtailment (gain) loss	0	0
Net periodic benefit (income) cost	197	(3,062)
Defined Benefit Pension Plan | International Pension Benefits
Net Periodic Cost:
Service cost	18	19
Interest cost	12	10
Expected return on assets	(20)	(17)
Amortization of prior service cost	0	0
Actuarial (gain) loss	0	0
Settlement and curtailment (gain) loss	(33)	0
Net periodic benefit (income) cost	(23)	12
U.S. Postretirement Medical Benefits | U.S. Pension Benefits
Net Periodic Cost:
Service cost	8	7
Interest cost	20	19
Expected return on assets	(1)	(2)
Amortization of prior service cost	0	2
Actuarial (gain) loss	0	0
Settlement and curtailment (gain) loss	0	0
Net periodic benefit (income) cost	$ 27	$ 26

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) $ in Millions	Dec. 31, 2007USD ($)	Mar. 31, 2022USD ($)employee	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain, before tax		$ 33
Curtailment gain, after tax		$ 24
Multiemployer Plans, Payment Term		41 years
National Master Agreement And Various Supplemental Agreements
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee		327,000
Independent Pilots Association
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee		3,200
Teamsters Local 2727
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee		1,700
International Association Of Machinists And Aerospace Workers
Defined Benefit Plan Disclosure [Line Items]
Number of employees covered | employee		3,300
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
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Multi-employer Plans, Withdrawal Obligation, Fair Value Disclosure		$ 849		$ 963
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		828		830
Defined Benefit Pension Plan | Other current liabilities
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plans, Withdrawal Obligation, Present Value		8		$ 8
Defined Benefit Pension Plan | U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans		31
Estimated future employer contributions to defined benefit plan, current fiscal year		2,000
U.S. Postretirement Medical Benefits | U.S. Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount contributed to company- sponsored benefit plans		14
Estimated future employer contributions to defined benefit plan, current fiscal year		$ 264

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Allocation of Goodwill by Reportable Segment (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,692
Acquired	0
Currency / Other	(24)
Ending balance	3,668
U.S. Domestic Package
Goodwill [Roll Forward]
Beginning balance	847
Acquired	0
Currency / Other	0
Ending balance	847
International Package
Goodwill [Roll Forward]
Beginning balance	403
Acquired	0
Currency / Other	(7)
Ending balance	396
Supply Chain Solutions
Goodwill [Roll Forward]
Beginning balance	2,442
Acquired	0
Currency / Other	(17)
Ending balance	$ 2,425

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Summary of Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,062	$ 6,045
Accumulated Amortization	(3,801)	(3,763)
Net Carrying Value	2,261	2,282
Indefinite-lived intangible assets	204	204
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	204	204
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	6,266	6,249
Accumulated Amortization	(3,801)	(3,763)
Intangible Assets, Net	2,465	2,486
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,950	4,910
Accumulated Amortization	(3,315)	(3,275)
Net Carrying Value	1,635	1,635
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(3,315)	(3,275)
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	43	58
Accumulated Amortization	(18)	(27)
Net Carrying Value	25	31
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(18)	(27)
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	118	119
Accumulated Amortization	(37)	(37)
Net Carrying Value	81	82
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(37)	(37)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	727	733
Accumulated Amortization	(423)	(408)
Net Carrying Value	304	325
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(423)	(408)
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	67	67
Accumulated Amortization	(3)	(1)
Net Carrying Value	64	66
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(3)	(1)
Trademarks, patents and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	157	158
Accumulated Amortization	(5)	(15)
Net Carrying Value	152	143
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (5)	$ (15)

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 204		$ 204
Impairment of finite lived intangible assets	0	$ 6
Trade name
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	200
Licenses
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 4

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Carrying Value of Outstanding Debt (Detail) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 22,055,000,000
Total debt	21,881,000,000	$ 21,915,000,000
Less current maturities	(2,141,000,000)	(2,131,000,000)
Long-Term Debt and Finance Leases	19,740,000,000	19,784,000,000
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	$ 1,002,000,000	1,010,000,000
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	600,000,000
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	$ 999,000,000	998,000,000
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	399,000,000
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	996,000,000
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	$ 499,000,000	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	994,000,000
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	$ 744,000,000	744,000,000
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	1,484,000,000
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	494,000,000
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	491,000,000
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	492,000,000
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	743,000,000
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	400,000,000
Total debt	400,000,000	400,000,000
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	500,000,000
Total debt	500,000,000	500,000,000
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
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 276,000,000
Debt instrument, stated interest rate	7.62%
Total debt	$ 280,000,000	280,000,000
Senior notes | Canadian senior note 2.125%
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 601,000,000
Debt instrument, stated interest rate	2.125%
Total debt	$ 600,000,000	585,000,000
Pound Sterling notes | 5.500% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 87,000,000
Debt instrument, stated interest rate	5.50%
Total debt	$ 86,000,000	89,000,000
Pound Sterling notes | 5.125% notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 596,000,000
Debt instrument, stated interest rate	5.125%
Total debt	$ 566,000,000	583,000,000
Euro Senior Notes | 0.375% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 776,000,000
Debt instrument, stated interest rate	0.375%
Total debt	$ 774,000,000	791,000,000
Euro Senior Notes | 1.625% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 776,000,000
Debt instrument, stated interest rate	1.625%
Total debt	$ 773,000,000	791,000,000
Euro Senior Notes | 1.000% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 554,000,000
Debt instrument, stated interest rate	1.00%
Total debt	$ 551,000,000	564,000,000
Euro Senior Notes | 1.500% senior notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 554,000,000
Debt instrument, stated interest rate	1.50%
Total debt	$ 551,000,000	564,000,000
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	3 Months Ended
	Mar. 31, 2022USD ($)Credit_Agreements	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)Credit_Agreements	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Commercial Paper	$ 0			$ 0
Repayments of long-term debt	18,000,000	$ 1,528,000,000
Face value of debt instrument	$ 22,055,000,000
Number of credit agreements | Credit_Agreements	2		2
Sale-lease back outstanding	$ 0
Long-term debt fair value	23,300,000,000			25,100,000,000
Finance Lease, Liability	$ 448,000,000			$ 408,000,000
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	$ 4,700,000,000
Secured debt outstanding	0
U.S. Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow	10,000,000,000
Long-term Debt	0
Foreign Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow | €			€ 5
Long-term Debt	$ 0
Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Maturity	Dec. 6, 2022
Revolving credit facilities	$ 1,000,000,000
Amounts outstanding under this facility	$ 0
Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Maturity	Dec. 7, 2026
Revolving credit facilities	$ 2,000,000,000
Amounts outstanding under this facility	0
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
Debt Instrument [Line Items]
Debt instrument, stated interest rate	7.62%		7.62%
Face value of debt instrument	$ 276,000,000
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%
Base Rate | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates	0.875%
Base Rate | Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Applicable margin rates	0.875%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates	0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Applicable margin rates	0.10%
Adjusted Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility Expiring In 2015
Debt Instrument [Line Items]
Applicable margin rates	1.00%
Adjusted Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Revolving Credit Facility Expiring In 2017
Debt Instrument [Line Items]
Applicable margin rates	1.00%

LEASES - Narratives (Details)

LEASES - Narratives (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)aircraft	Mar. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Number of lease aircrafts (aircraft)	317
Number of lease aircrafts, finance (aircraft)	21
Number of lease aircrafts, operating (aircraft)	18
Number of lease aircrafts, short-term (aircraft)	278
Finance Lease, Impairment Loss | $	$ 0	$ 0
Operating Lease, Impairment Loss | $	0	$ 0
Lessee, Finance Lease and Operating Lease, Lease Not Yet Commenced, Amount | $	$ 347
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	138 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease costs	$ 183	$ 175
Amortization of assets	28	23
Interest on lease liabilities	4	4
Total finance lease costs	32	27
Variable lease costs	68	65
Short-term lease costs	302	279
Total lease costs	$ 585	$ 546

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Operating Leases:
Operating lease right-of-use assets	$ 3,481,000,000	$ 3,562,000,000
Current maturities of operating leases	579,000,000	580,000,000
Non-current operating leases	2,970,000,000	3,033,000,000
Total lease obligations	3,549,000,000	3,613,000,000
Finance Leases:
Property, plant and equipment, net	$ 1,134,000,000	$ 1,225,000,000
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current maturities of long-term debt, commercial paper and finance leases	Current maturities of long-term debt, commercial paper and finance leases
Current maturities of long-term debt, commercial paper and finance leases	$ 140,000,000	$ 129,000,000
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term Debt, Excluding Current Maturities	Long-term Debt, Excluding Current Maturities
Long-term debt and finance leases	$ 308,000,000	$ 279,000,000
Total lease obligations	$ 448,000,000	$ 408,000,000
Weighted average remaining lease term (in years):
Operating leases	11 years 6 months	11 years 8 months 12 days
Finance leases	7 years 7 months 6 days	8 years
Weighted average discount rate:
Operating leases	1.95%	1.94%
Finance leases	2.71%	2.79%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 176	$ 171
Operating cash flows from finance leases	1	1
Financing cash flows from finance leases	18	13
Operating leases	119	174
Finance leases	$ 59	$ 23

LEASES - Maturity Schedule Afte

LEASES - Maturity Schedule After Adoption (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Finance Leases
2022	$ 137,000,000
Finance Lease, Liability, to be Paid, Year One	76,000,000
Lessee, Operating Lease, Liability, to be Paid, Year One	595,000,000
2023	52,000,000
2024	39,000,000
2025	33,000,000
Thereafter	197,000,000
Total lease payments	534,000,000
Less: Imputed interest	(86,000,000)
Total lease obligations	448,000,000	$ 408,000,000
Less: Current obligations	(140,000,000)	(129,000,000)
Long-term lease obligations	308,000,000	279,000,000
Operating Leases
2022	478,000,000
2023	497,000,000
2024	441,000,000
2025	395,000,000
Thereafter	1,663,000,000
Total lease payments	4,069,000,000
Less: Imputed interest	(520,000,000)
Total lease obligations	3,549,000,000	3,613,000,000
Less: Current obligations	(579,000,000)	(580,000,000)
Long-term lease obligations	$ 2,970,000,000	$ 3,033,000,000

SHAREOWNERS' EQUITY - Additiona

SHAREOWNERS' EQUITY - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)VoteClasses_of_Common_Stock$ / sharesshares	Mar. 31, 2021USD ($)	Dec. 31, 2022USD ($)	Aug. 31, 2021USD ($)
Stockholders Equity Note [Line Items]
Classes of Common Stock, Number | Classes_of_Common_Stock	2
Preferred stock, shares authorized | shares	200,000,000
Preferred stock, par value | $ / shares	$ 0.01
Preferred stock, issued | shares	0
Purchases of common stock	$ 254	$ 0
Change in non-controlling minority interest	2	0
Defined benefit plan, curtailments	$ (33)
August 2021 Share Repurchase Program
Stockholders Equity Note [Line Items]
Common stock authorized for purchase, amount				$ 5,000
Common stock purchases | shares	1,200,000
Total of Class A and Class B common stock, repurchased, value	$ 260
Purchases of common stock	254
Share repurchase authorization available	$ 4,200
August 2021 Share Repurchase Program | Forecast
Stockholders Equity Note [Line Items]
Projected repurchase value in 2022			$ 2,000
Class A common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	10
Common stock, par value | $ / shares	$ 0.01
Common stock, shares authorized | shares	4,600,000,000
Class B common stock
Stockholders Equity Note [Line Items]
Votes per common share | Vote	1
Common stock, par value | $ / shares	$ 0.01
Common stock, shares authorized | shares	5,600,000,000
Net income
Stockholders Equity Note [Line Items]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	$ 36	2,488
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	(9)	(3)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	29	10
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	(9)	(3)
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	29	10
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Stockholders Equity Note [Line Items]
Reclassification to earnings (net of tax effect of $_ and $12)	7	2,475
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | Income tax expense
Stockholders Equity Note [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(3)	(780)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | Net income
Stockholders Equity Note [Line Items]
Reclassification to earnings (net of tax effect of $_ and $12)	7	2,475
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | 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	(23)	(35)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	0	3,290
Defined benefit plan, curtailments	33	0
Accumulated Net Investment Gain (Loss) Attributable to Parent
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	3
Accumulated Net Investment Gain (Loss) Attributable to Parent | Income tax expense
Stockholders Equity Note [Line Items]
Reclassification to earnings, tax effect	0	0
Accumulated Net Investment Gain (Loss) Attributable to Parent | Net income
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	3
Accumulated Net Investment Gain (Loss) Attributable to Parent | Investment income and other
Stockholders Equity Note [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	0	3
Foreign Exchange Contracts | Interest expense
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	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
Foreign Exchange Contracts | Revenue
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	41	15
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	41	15
Interest Contracts | Interest expense
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)	(2)
Interest Contracts | Investment income and other
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Interest Contracts | Revenue
Stockholders Equity Note [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	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)	$ (2)

Roll-forward of Common Stock, A

Roll-forward of Common Stock, Additional Paid-in Capital, Retained Earnings Accounts and Noncontrolling Interest (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 14,253
Net income attributable to common shareowners	2,662	$ 4,792
Balance at end of period	15,416
Non-Controlling Minority Interest
Balance at beginning of period	16	12
Change in non-controlling minority interest	2	0
Balance at end of period	$ 18	$ 12
Common stock, cash paid for dividends, per share	$ 1.52	$ 1.02
Dividends, common stock	$ 122	$ 80
Class A common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period, shares	138
Balance at end of period, shares	140
Class B common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period, shares	732
Balance at end of period, shares	734
Common Stock | Class A common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 2	$ 2
Balance at beginning of period, shares	138	147
Common stock purchases		$ 0
Common stock purchases, shares	0	0
Stock award plans		$ 0
Stock award plans, shares	4	4
Common stock issuances		$ 0
Common stock issuances, shares	1	1
Conversions of class A to class B common stock		$ 0
Conversions of Class A to Class B common stock, shares	(3)	(4)
Balance at end of period	$ 2	$ 2
Balance at end of period, shares	140	148
Common Stock | Class B common stock
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 7	$ 7
Balance at beginning of period, shares	732	718
Common stock purchases		$ 0
Common stock purchases, shares	(1)	0
Conversions of class A to class B common stock		$ 0
Conversions of Class A to Class B common stock, shares	(3)	(4)
Balance at end of period	$ 7	$ 7
Balance at end of period, shares	734	722
Additional Paid-In Capital
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 1,343	$ 865
Common stock purchases	(260)	0
Stock award plans	(35)	30
Common stock issuances	183	154
Balance at end of period	1,231	1,049
Retained Earnings
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	16,179	6,896
Net income attributable to common shareowners	2,662	4,792
Balance at end of period	17,433	10,748
Dividends ( and per share) (1)	(1,406)	(938)
Other	$ (2)	$ (2)

Activity in Accumulated Other C

Activity in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ (3,278)
Translation adjustment (net of tax effect of and )	(40)	$ (82)
Current period changes in fair value (net of tax effect of and )	(6)	(4)
Change in unrealized gain (loss) on cash flow hedges, net of tax	43	114
Balance at end of period	(3,257)	(4,659)
Foreign currency translation gain (loss):
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1,162)	(981)
Translation adjustment (net of tax effect of and )	(40)	(82)
Balance at end of period	(1,202)	(1,063)
Aggregate adjustment for the period, tax	0	30
Accumulated Net Investment Gain (Loss) Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1)	6
Current period changes in fair value (net of tax effect of and )	(6)	(1)
Reclassification to earnings (net of tax effect of and )	0	(3)
Balance at end of period	(7)	2
Current period changes in fair value, tax effect	(2)	0
Reclassification to earnings, tax effect	0	0
Unrealized gain (loss) on cash flow hedges, net of tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(17)	(223)
Change in unrealized gain (loss) on cash flow hedges, net of tax	72	124
Reclassification to earnings (net of tax effect of and )	(29)	(10)
Balance at end of period	26	(109)
Current period changes in fair value, tax effect	23	39
Reclassification to earnings, tax effect	(9)	(3)
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(2,098)	(5,915)
Reclassification to earnings (net of tax effect of and )	(7)	(2,475)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $11 and $1,544)	31	4,901
Balance at end of period	(2,074)	(3,489)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities, tax effect	11	1,544
Reclassification to earnings, tax effect	(3)	(780)
Income tax expense | Accumulated Net Investment Gain (Loss) Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings, tax effect	0	0
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	(9)	(3)
Net income | Accumulated Net Investment Gain (Loss) Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of and )	0	(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 and )	(29)	(10)
Net income | Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification to earnings (net of tax effect of and )	$ (7)	$ (2,475)

SHAREOWNERS' EQUITY - Gains (Lo

SHAREOWNERS' EQUITY - Gains (Losses) Reclassified from AOCI (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income
AmountsReclassifiedFromAOCI [Line Items]
TotalOtherComprehensiveIncomeReclassification, Net of Tax	$ 36	$ 2,488
Interest rate contracts | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Interest rate contracts | Interest expense
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)	(2)
Interest rate contracts | Revenue
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	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
Foreign currency exchange contracts | Interest expense
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Foreign currency exchange contracts | Revenue
AmountsReclassifiedFromAOCI [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	41	15
Accumulated Net Unrealized Investment Gain (Loss)
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	3
Accumulated Net Unrealized Investment Gain (Loss) | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	0	0
Accumulated Net Unrealized Investment Gain (Loss) | Net income
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	3
Accumulated Net Unrealized Investment Gain (Loss) | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	0	3
Unrealized gain (loss) on cash flow hedges, net of tax:
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(9)	(3)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	29	10
Unrealized gain (loss) on cash flow hedges, net of tax: | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Reclassification to earnings, tax effect	(9)	(3)
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	29	10
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)	(2)
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	41	15
Accumulated Defined Benefit Plans Adjustment
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	7	2,475
Accumulated Defined Benefit Plans Adjustment | Income tax expense
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(3)	(780)
Accumulated Defined Benefit Plans Adjustment | 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	7	2,475
Accumulated Defined Benefit Plans Adjustment | Investment income and other
AmountsReclassifiedFromAOCI [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(23)	(35)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	$ 0	$ 3,290

SHAREOWNERS' EQUITY - Activity

SHAREOWNERS' EQUITY - Activity in Deferred Compensation Program (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 14,253
Balance at beginning of period	0.3
Balance at end of period	$ 15,416
Balance at end of period	0.3
Treasury Stock [Member]
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ (16)	$ (20)
Balance at beginning of period	0	0
Reinvested dividends	$ 0	$ 0
Reinvested dividends	0	0
Benefit payments	0	0
Benefit payments	$ (4)	$ (5)
Balance at end of period	$ (12)	$ (15)
Balance at end of period	0	0
Deferred Compensation Obligations
Stockholders Equity Note [Roll Forward]
Balance at beginning of period	$ 16	$ 20
Reinvested dividends	0	0
Benefit payments	(4)	(5)
Balance at end of period	$ 12	$ 15

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022Countries_and_TerritoriesSegment
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
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 - Results o

SEGMENT INFORMATION - Results of Operations (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 24,378	$ 22,908
Operating profit	3,251	2,765
U.S. Domestic Package
Segment Reporting Information [Line Items]
Revenue	15,124	14,010
U.S. Domestic Package | Operating Segments
Segment Reporting Information [Line Items]
Operating profit	1,662	1,359
International Package
Segment Reporting Information [Line Items]
Revenue	4,876	4,607
International Package | Operating Segments
Segment Reporting Information [Line Items]
Operating profit	1,116	1,085
Supply Chain Solutions
Segment Reporting Information [Line Items]
Revenue	4,378	4,291
Supply Chain Solutions | Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,378	4,291
Operating profit	$ 473	$ 321

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income attributable to common shareowners	$ 2,662	$ 4,792
Denominator:
Weighted average shares	871	867
Vested portion of restricted shares	3	5
Denominator for basic earnings per share	874	872
Effect of dilutive securities:
Denominator for diluted earnings per share	879	876
Restricted performance units
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	4	3
Stock option plans
Effect of dilutive securities:
Incremental common shares attributable to share-based payment arrangements	1	1

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from diluted earnings per share that may be issued upon the exercise of employee stock options because such effect would be antidilutive	0.1	0.2

DERIVATIVE INSTRUMENTS AND RI_3

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative, Collateral, Obligation to Return Cash	$ 253,000,000	$ 260,000,000
Commodity Asset	$ 0	0
Derivative Instrument Recognition Period	8 years
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	$ 99,000,000
Maximum term over hedging exposures to the variability of cash flow	10 years
Collateral Securities Repledged, Delivered, or Used	$ 2,000,000	0
Fixed to Floating Interest Rates Swaps
Derivative [Line Items]
Debt instrument, stated interest rate	2.45%
Quoted Prices in Active Markets for Identical Assets (Level 1)
Derivative [Line Items]
Derivatives classified as Level 1 or Level 3	$ 0	0
Significant Other Observable Inputs (Level 2)
Derivative [Line Items]
Liability Derivatives	61,000,000	62,000,000
Significant Unobservable Inputs (Level 3)
Derivative [Line Items]
Derivatives classified as Level 1 or Level 3	0	$ 0
Long-term debt and finance leases | Not Designated as Hedging Instrument | Fair Value
Derivative [Line Items]
Liability Derivatives	$ 5,000,000

DERIVATIVE INSTRUMENTS AND RI_4

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Detail) € in Millions, £ in Millions, $ in Millions, $ in Millions	Mar. 31, 2022USD ($)	Mar. 31, 2022EUR (€)	Mar. 31, 2022GBP (£)	Mar. 31, 2022CAD ($)	Mar. 31, 2022HKD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)	Dec. 31, 2021CAD ($)	Dec. 31, 2021HKD ($)
Derivative [Line Items]
Collateral Securities Repledged, Delivered, or Used	$ 2,000,000					$ 0
Foreign Exchange Contracts | Euro Member Countries, Euro
Derivative [Line Items]
Derivative, Notional Amount | €		€ 4,215					€ 4,257
Foreign Exchange Contracts | United Kingdom, Pounds
Derivative [Line Items]
Derivative, Notional Amount | £			£ 1,394					£ 1,402
Foreign Exchange Contracts | Canada, Dollars
Derivative [Line Items]
Derivative, Notional Amount				$ 1,672					$ 1,633
Foreign Exchange Contracts | Hong Kong, Dollars
Derivative [Line Items]
Derivative, Notional Amount					$ 4,286					$ 4,033
Fixed to Floating Interest Rate Swaps
Derivative [Line Items]
Derivative, Notional Amount	1,000,000,000					1,000,000,000
Floating to Fixed Interest Rate Swaps
Derivative [Line Items]
Derivative, Notional Amount	$ 28,000,000					$ 28,000,000

Location on the Balance Sheet o

Location on the Balance Sheet of Derivative Assets and Liabilities (Detail) - Fair Value, Inputs, Level 2 - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Asset Derivatives
Asset Derivatives	$ 280	$ 236
Net Amounts if Right of Offset had been Applied	227	185
Derivative Liabilities [Abstract]
Liability Derivatives	61	62
Net Amounts if Right of Offset had been Applied	8	11
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	128	100
Net Amounts if Right of Offset had been Applied	109	82
Designated as Hedging Instrument | Foreign currency exchange contracts | Other non-current assets
Asset Derivatives
Asset Derivatives	148	123
Net Amounts if Right of Offset had been Applied	114	90
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	19	19
Net Amounts if Right of Offset had been Applied	0	1
Designated as Hedging Instrument | Foreign currency exchange contracts | Other non-current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	34	33
Net Amounts if Right of Offset had been Applied	0	0
Designated as Hedging Instrument | Interest rate contracts | Other current assets
Asset Derivatives
Asset Derivatives	3	11
Net Amounts if Right of Offset had been Applied	3	11
Designated as Hedging Instrument | Interest rate contracts | Other non-current liabilities
Derivative Liabilities [Abstract]
Liability Derivatives	8	10
Net Amounts if Right of Offset had been Applied	8	10
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Asset Derivatives	1	2
Net Amounts if Right of Offset had been Applied	$ 1	$ 2

DERIVATIVE INSTRUMENTS AND RI_5

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	Mar. 31, 2022	Dec. 31, 2021
Carrying Amount
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 1,282	$ 1,290
Fair Value
Derivatives, Fair Value [Line Items]
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ 8	$ 16

DERIVATIVE INSTRUMENTS AND RI_6

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Income Statement and AOCI Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	$ 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	41	15
Revenue | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	0	0
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Revenue | Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	41	15
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	8	6
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)	(2)
Interest expense | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	(8)	(6)
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(3)	(2)
Interest expense | Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Hedged items	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
Investment income and other | Interest Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives designated as hedging instruments	0	0
Amount of gain or (loss) reclassified from accumulated other comprehensive income	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

Amount and Location in the Inco

Amount and Location in the Income Statement for Derivatives Designed as Cash Flow Hedges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments in Cash Flow Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	$ 95	$ 163
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	3	3
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	92	160
Non-derivative Instruments in Net Investment Hedging Relationships
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	46	124
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	$ 46	$ 124

Amount Recorded in Income State

Amount Recorded in Income Statements for Foreign Currency Forward Contracts Not Designated as Hedges (Detail) - Not Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (28)	$ (6)
Foreign currency exchange contracts | Investment income and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	$ (28)	$ (6)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax
Effective tax rate	21.50%	22.80%
Effective income tax rate reconciliation, percent	2.40%	1.10%
Defined benefit plan, curtailments	$ (33)
Mark to market gain (loss), tax effect		$ 788
Mark to market gain (loss)		3,300
Transformation cost	55	118
Income tax benefit from restructuring costs	12	28
Disposed of by Sale | UPS Freight Business
Income Tax
Pre-tax gain		66
Gain (loss) on disposal, tax expense (benefit)		16
Investment income and other | Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Income Tax
Defined benefit plan, curtailments	$ 33	$ 0

TRANSFORMATION STRATEGY (Detail

TRANSFORMATION STRATEGY (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Compensation and benefits	$ 33	$ 76
Total other expenses	22	42
Total Transformation Strategy Costs	55	118
Income Tax Benefit from Transformation Strategy Costs	(12)	(28)
After Tax Transformation Strategy Costs	$ 43	$ 90