United Parcel Service (UPS) 10-K 18 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 03, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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, Address Line One	55 Glenlake Parkway
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30328
City Area Code	404
Local Phone Number	828-6000
Title of Each Class	Class B common stock, par value $0.01 per share
Trading Symbol	UPS
Name of Each Exchange on Which Registered	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 100,185,550,613
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its annual meeting of shareowners scheduled for May 8, 2025 are incorporated by reference into Part III of this report.
Entity Central Index Key	0001090727
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		114,298,155
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		739,873,795
Senior Notes 1.625% Due 2025
Document Information [Line Items]
Title of Each Class	1.625% Senior Notes due 2025
Trading Symbol	UPS25
Name of Each Exchange on Which Registered	NYSE
Senior Notes 1% Due 2028
Document Information [Line Items]
Title of Each Class	1% Senior Notes due 2028
Trading Symbol	UPS28
Name of Each Exchange on Which Registered	NYSE
Senior Notes 1.500% Due 2032
Document Information [Line Items]
Title of Each Class	1.500% Senior Notes due 2032
Trading Symbol	UPS32
Name of Each Exchange on Which Registered	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, Georgia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 6,112	$ 3,206
Marketable securities	206	2,866
Accounts receivable	11,007	11,342
Less: Allowance for credit losses	(136)	(126)
Accounts receivable, net	10,871	11,216
Other current assets	2,121	2,125
Total Current Assets	19,310	19,413
Property, Plant and Equipment, Net	37,179	36,945
Operating Lease Right-Of-Use Assets	4,149	4,308
Goodwill	4,300	4,872
Intangible Assets, Net	3,064	3,305
Deferred Income Tax Assets	112	126
Other Non-Current Assets	1,956	1,888
Total Assets	70,070	70,857
Current Liabilities:
Current maturities of long-term debt, commercial paper and finance leases	1,838	3,348
Current maturities of operating leases	733	709
Accounts payable	6,302	6,340
Accrued wages and withholdings	3,655	3,224
Self-insurance reserves	1,086	1,320
Accrued group welfare and retirement plan contributions	1,390	1,479
Other current liabilities	1,437	1,256
Total Current Liabilities	16,441	17,676
Long-Term Debt and Finance Leases	19,446	18,916
Non-Current Operating Leases	3,635	3,756
Pension and Postretirement Benefit Obligations	6,859	6,159
Deferred Income Tax Liabilities	3,595	3,772
Other Non-Current Liabilities	3,351	3,264
Shareowners’ Equity:
Additional paid-in capital	136	0
Retained earnings	20,882	21,055
Accumulated other comprehensive loss	(4,309)	(3,758)
Deferred compensation obligations	7	9
Less: Treasury stock (0.1 and 0.2 in 2024 and 2023, respectively)	(7)	(9)
Total Equity for Controlling Interests	16,718	17,306
Noncontrolling Interests	25	8
Total Shareowners’ Equity	16,743	17,314
Total Liabilities and Shareowners’ Equity	70,070	70,857
Common Class A
Shareowners’ Equity:
Common stock	2	2
Common Class B
Shareowners’ Equity:
Common stock	$ 7	$ 7

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions	Dec. 31, 2024	Dec. 31, 2023
Treasury stock (in shares)	0.1	0.2
Common Class A
Common stock, issued (in shares)	121	127
Common Class B
Common stock, issued (in shares)	733	726

STATEMENTS OF CONSOLIDATED INCO

STATEMENTS OF CONSOLIDATED INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 91,070	$ 90,958	$ 100,338
Operating Expenses:
Compensation and benefits	48,093	47,092	47,724
Repairs and maintenance	2,940	2,828	2,884
Depreciation and amortization	3,609	3,366	3,188
Purchased transportation	13,589	13,640	17,666
Fuel	4,366	4,775	6,018
Other occupancy	2,117	2,019	1,844
Other expenses	7,888	8,097	7,920
Total Operating Expenses	82,602	81,817	87,244
Operating Profit	8,468	9,141	13,094
Other Income and (Expense):
Investment income (expense) and other	(160)	219	2,435
Interest expense	(866)	(787)	(704)
Total Other Income and (Expense)	(1,026)	(568)	1,731
Income Before Income Taxes	7,442	8,573	14,825
Income Tax Expense	1,660	1,865	3,277
Net Income	$ 5,782	$ 6,708	$ 11,548
Basic Earnings Per Share (in dollars per share)	$ 6.76	$ 7.81	$ 13.26
Diluted Earnings Per Share (in dollars per share)	$ 6.75	$ 7.80	$ 13.20

STATEMENTS OF CONSOLIDATED COMP

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 5,782	$ 6,708	$ 11,548
Change in foreign currency translation adjustment, net of tax	(338)	198	(284)
Change in unrealized gain (loss) on marketable securities, net of tax	1	9	(10)
Change in unrealized gain (loss) on cash flow hedges, net of tax	167	(243)	184
Change in unrecognized pension and postretirement benefit costs, net of tax	(381)	(2,173)	1,839
Comprehensive Income (Loss)	$ 5,231	$ 4,499	$ 13,277

STATEMENTS OF CONSOLIDATED CASH

STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities:
Net Income	$ 5,782	$ 6,708	$ 11,548
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	3,609	3,366	3,188
Pension and postretirement benefit (income) expense	1,698	1,330	(129)
Pension and postretirement benefit contributions	(1,524)	(1,393)	(2,342)
Self-insurance reserves	44	57	(20)
Deferred tax (benefit) expense	(15)	199	531
Stock compensation expense	24	220	1,568
Other (gains) losses	262	265	123
Changes in assets and liabilities, net of effects of business acquisitions and dispositions:
Accounts receivable	(566)	1,256	(322)
Other assets	70	87	117
Accounts payable	262	(1,377)	34
Accrued wages and withholdings	501	(296)	(189)
Other liabilities	(11)	(42)	(9)
Other operating activities	(14)	(142)	6
Net cash from operating activities	10,122	10,238	14,104
Cash Flows From Investing Activities:
Capital expenditures	(3,909)	(5,158)	(4,769)
Proceeds from disposal of businesses, property, plant and equipment	1,115	193	12
Purchases of marketable securities	(76)	(3,521)	(1,906)
Sales and maturities of marketable securities	2,748	2,701	255
Acquisitions, net of cash acquired	(71)	(1,329)	(755)
Other investing activities	(24)	(19)	(309)
Net cash used in investing activities	(217)	(7,133)	(7,472)
Cash Flows From Financing Activities:
Net change in short-term debt	(1,272)	1,272	0
Proceeds from long-term borrowings	2,785	3,429	0
Repayments of long-term borrowings	(2,487)	(2,429)	(2,304)
Purchases of common stock	(500)	(2,250)	(3,500)
Issuances of common stock	232	248	262
Dividends	(5,399)	(5,372)	(5,114)
Other financing activities	(209)	(432)	(529)
Net cash used in financing activities	(6,850)	(5,534)	(11,185)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(149)	33	(100)
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash	2,906	(2,396)	(4,653)
Cash, Cash Equivalents and Restricted Cash:
Beginning of period	3,206	5,602	10,255
End of period	6,112	3,206	5,602
Cash Paid During the Period For:
Interest (net of amount capitalized)	854	762	721
Income taxes (net of refunds)	$ 1,347	$ 1,976	$ 2,574

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF ACCOUNTING POLICIES	NOTE 1. SUMMARY OF ACCOUNTING POLICIES Basis of Financial Statements and Business Activities The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), and include the accounts of United Parcel Service, Inc., and all of its consolidated subsidiaries (collectively "UPS" or the "Company"). All intercompany balances and transactions have been eliminated. We provide transportation services, primarily domestic and international letter, package and air cargo delivery. Through our Supply Chain Solutions subsidiaries, we are also a global provider of transportation, logistics and related services. In 2024, we reclassified certain operating expenses to better align with the manner in which we manage our operations. These reclassifications were inconsequential and substantially all of these costs were previously classified within operating expenses as Purchased transportation and have now been classified within operating expenses within Other expenses in the statements of consolidated income. The remaining line items within operating expenses and Other Income and (Expense) that were impacted by this reclassification were inconsequential. As a result, the statements of consolidated income give effect to this reclassification as follows: • Purchased transportation decreased by $11 and $9 million for 2023 and 2022, respectively. • Other expenses increased by $7 and $5 million for 2023 and 2022, respectively. The amounts for 2024 were not reported under this legacy basis but are also immaterial. The reclassification had no impact on our reported revenue, operating profit, Other Income and (Expense) , net income, or any internal performance measure on which management is compensated. Use of Estimates The preparation of our consolidated financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingencies. Estimates have been prepared on the basis of the most current and best information, and actual results could differ materially from those estimates. Revenue Recognition United States ("U.S.") Domestic Package and International Package Operations: Revenue is recognized over time as we perform the services in the contract. Forwarding : Freight forwarding revenue, and expenses related to the transportation of freight are recognized over time as we perform the services. Customs brokerage revenue is recognized upon completing documents necessary for customs entry purposes. Logistics : In our Logistics businesses 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. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less and insignificant credit risk, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments. As of December 31, 2024, we did not have any restricted cash. As of December 31, 2023, we had $37 million of restricted cash that was primarily related to cash we had agreed to deposit in connection with a previously disclosed challenge by Italian tax authorities to the deductibility of Value Added Tax payments by UPS to certain third-party service providers. We designated additional amounts as restricted cash during the first quarter of 2024 and, during the second quarter of 2024, we made a voluntary payment, including interest, of approximately $94 million to settle this matter and recorded a corresponding charge against income which is reflected in Other expenses in our statements of consolidated income. Marketable Securities and Non-Current Investments Debt securities are classified as either trading or available-for-sale securities and are carried at fair value. Unrealized gains and losses on trading securities are reported as Investment income (expense) and other on the statements of consolidated income. Unrealized gains and losses on available-for-sale securities are reported within other comprehensive income, a separate component of shareowners’ equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included in Investment income (expense) and other , together with interest and dividends. The cost of securities sold is based on the specific identification method; realized gains and losses resulting from such sales are included in Investment income (expense) and other . We periodically review our available-for-sale investments for indications of other-than-temporary impairment considering many factors, including the extent and duration to which a security’s fair value has been less than its cost, overall economic and market conditions and the financial condition and specific prospects for the issuer. Impairment of available-for-sale securities results in a charge to income when a market decline below cost is other-than-temporary, which includes consideration of whether we have both the intent and ability to hold such securities for the time necessary to recover the cost basis. If a decline in fair value is determined to be the result of a credit loss, then the decrease is recognized in income through an allowance for credit losses. Investments in equity securities through which we exercise significant influence but do not have control over the investee are accounted for under the equity method. We record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee. Gains and losses from equity method investments are reported in Investment income (expense) and other on the statements of consolidated income. We record dividends or other equity distributions as reductions of the carrying value of the investment. Equity method investments are included within Other Non-Current Assets in our consolidated balance sheets. Inventories Fuel and other materials and supplies are recognized as inventory when purchased, and then charged to expense when used in our operations. Jet fuel, diesel and unleaded gasoline inventories are valued at the lower of average cost or net realizable value. Total inventories were $826 and $935 million as of December 31, 2024 and 2023, respectively, and are included in Other current assets in our consolidated balance sheets. Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. We evaluate the useful lives of our property, plant and equipment based on our usage, maintenance and replacement policies, and taking into account physical and economic factors that may affect the useful lives of the assets. Depreciation and amortization are provided by the straight-line method over the estimated useful lives of the assets, which are as follows: • Aircraft: 7 to 40 years, based on aircraft type and original aircraft manufacture date • Buildings: 10 to 40 years • Leasehold Improvements: lesser of asset useful life or lease term • Plant Equipment: 3 to 20 years • Technology Equipment: 3 to 10 years • Vehicles: 5 to 15 years Routine maintenance and repairs are generally charged to expense as incurred. For substantially all of our aircraft, the costs of major airframe and engine overhauls, as well as routine maintenance and repairs, are charged to expense as incurred. Interest incurred during the construction of property, plant and equipment is capitalized until the underlying assets are placed in service, at which time amortization of the capitalized interest begins, straight-line, over the estimated useful lives of the related assets. Capitalized interest was $121 and $118 million for the years ended December 31, 2024 and 2023, respectively. We monitor our property, plant and equipment for any indicators that the carrying value of our asset groups may not be recoverable, at which time we review the asset group for impairment based on undiscounted future cash flows. If the carrying amount of the asset is determined not to be recoverable, a write-down to fair value is recorded. Fair values are determined based on quoted market values, discounted cash flows or external appraisals, as appropriate. We test long-lived assets for impairment at the asset group level, which is the lowest level at which independent cash flows can be identified. We evaluate long-lived assets within our global small package operations at a network level given the cash flows associated with individual assets therein are not independent. Refer to note 4 for a discussion of impairments of property, plant and equipment. During the first quarter of 2025, we entered into an agreement in principle with our largest customer that will provide for a significant reduction in their volume. In connection therewith, we will be reconfiguring our U.S. network and expect this reconfiguration to lead to a reduction in the number of buildings, vehicles and aircraft in our network. We are not yet able to identify the specific assets which will be impacted by these actions; however, it is reasonably possible that revisions to our estimates of the useful life and salvage values of certain of our long-lived assets will accelerate depreciation expense and charges related to early retirements may be recognized during future periods. Leases We recognize a right-of-use ("ROU") asset and lease obligation for all leases greater than twelve months, including reasonably certain renewal or purchase options. Some of our leases contain both lease and non-lease components, which we have elected to treat as a single lease component. Lease costs for short-term leases are recognized on a straight-line basis over the lease term. Certain of 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. Goodwill and Intangible Assets Costs of purchased businesses in excess of net identifiable assets acquired (goodwill) and indefinite-lived intangible assets are tested for impairment at least annually, unless changes in circumstances indicate an impairment may have occurred between annual tests. We complete our annual goodwill impairment evaluation as of July 1 on a reporting unit basis. In assessing goodwill for impairment, we initially evaluate qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. We consider several factors, including macroeconomic conditions, industry and market conditions, overall financial performance of the reporting unit, changes in management, strategy or customers and relevant reporting unit-specific events such as a change in the carrying amount of net assets, a more likely than not expectation of selling or disposing of all, or a portion of, a reporting unit, and the testing for recoverability of a significant asset group within a reporting unit. If this qualitative assessment results in a conclusion that it is more likely than not that the fair value of a reporting unit exceeds the carrying value, then no further testing is performed for that reporting unit. If the qualitative assessment is not conclusive, or if we elect to bypass the qualitative test, we quantitatively assess the fair value of a reporting unit to test goodwill for impairment. We assess the fair value of a reporting unit using a combination of discounted cash flow modeling and observable valuation multiples for comparable companies. Our estimates are developed using assumptions that we believe are consistent with how a market participant would value our reporting units. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, we record the excess amount as goodwill impairment, not to exceed the total amount of goodwill allocated to the reporting unit. Finite-lived intangible assets, including trademarks, licenses, patents, customer lists, non-compete agreements and franchise rights are amortized on a straight-line basis over their estimated useful lives, which range from 2 to 21 years. Capitalized software is generally amortized over 7 years. Finite-lived intangible assets are assessed for impairment as part of asset groups whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Assets Held for Sale We classify long-lived assets or disposal groups as held for sale in the period when all of the following conditions have been met: • we have approved and committed to a plan to sell the assets or disposal group; • the asset or disposal group is available for immediate sale in its present condition; • an active program to locate a buyer and other actions required to complete the sale have been initiated; • the sale of the asset or disposal group is probable and expected to be completed within one year; • the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and • it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell and recognize any loss in the period in which the held for sale criteria are met. Gains are not recognized until the date of sale. We cease depreciation and amortization of a long-lived asset, or assets within a disposal group, upon their designation as held for sale and subsequently assess fair value less any costs to sell at each reporting date until the asset or disposal group is no longer classified as held for sale. Supplier Finance Programs As part of our working capital management, certain financial institutions offer a Supply Chain Finance ("SCF") program to certain of our suppliers. We agree to commercial terms with our suppliers, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the SCF program. Suppliers issue invoices to us based on the agreed-upon contractual terms. If they participate in the SCF program, our suppliers, at their sole discretion, determine which invoices, if any, to sell to the financial institutions. Our suppliers’ voluntary inclusion of invoices in the SCF program has no bearing on our payment terms. No guarantees are provided by us under the SCF program. We have no economic interest in a supplier’s decision to participate, and we have no direct financial relationship with the financial institutions, as it relates to the SCF program. Amounts due to our suppliers that participate in the SCF program are included in Accounts payable in our consolidated balance sheets. As of December 31, 2024 and 2023, suppliers sold $515 and $504 million, respectively, of our outstanding payment obligations to participating institutions. A rollforward of obligations confirmed and paid during the year is presented below (dollars in millions): 2024 2023 Confirmed obligations outstanding at the beginning of the year $ 504 $ 806 Invoices confirmed during the year 1,722 2,428 Confirmed invoices paid during the year (1,711) (2,730) Confirmed obligations outstanding at the end of the year $ 515 $ 504 Self-Insurance Accruals We self-insure costs associated with workers' compensation claims, automobile liability, health and welfare and general business liabilities, up to certain limits. Self-insurance reserves are established for estimates of the losses we will ultimately incur on reported claims, as well as estimates of claims that have been incurred but not yet reported. The expected ultimate cost for claims incurred is estimated based upon historical loss experience and judgments about the present and expected levels of cost per claim. Trends in actual experience are a significant factor in the determination of our reserves. In 2024, we transferred a portion of our workers' compensation liability related to policy years 1994 through 2000 and policy year 2018 to a third-party insurer. We paid $114 million to transfer a portfolio of claims for which we carried reserves of $114 million. In 2023, we transferred a portion of our workers' compensation liability related to policy years 2001 through 2006 and policy year 2017 to a third-party insurer. We paid $151 million to transfer a portfolio of claims for which we carried reserves of $153 million, recognizing a pre-tax gain of $2 million that was recorded in Other expenses in the statement of consolidated income for the year ended December 31, 2023. We also sponsor a number of health and welfare insurance plans for our employees. Liabilities and expenses related to these plans are based on estimates of the number of employees and eligible dependents covered under the plans, global health events, anticipated medical usage by participants and overall trends in medical costs and inflation. Pension and Postretirement Benefits We incur certain employment-related expenses associated with company-sponsored defined benefit pension and postretirement medical benefits. These expenses are calculated using various actuarial assumptions and methodologies, including discount rates, expected returns on plan assets, healthcare cost trend rates, inflation, compensation increase rates, mortality rates and coordination of benefits with plans not sponsored by UPS. Actuarial assumptions are reviewed on an annual basis, unless circumstances require an interim measurement of any of our plans. We recognize changes in the fair value of plan assets and net actuarial gains or losses in excess of a corridor (defined as 10% of the greater of the fair value of plan assets or the plan's projected benefit obligation) in Investment income (expense) and other, in the statement of consolidated income, upon remeasurement of a plan. The remaining components of pension expense, primarily service and interest costs and the expected return on plan assets, are recorded ratably on a quarterly basis. We recognize expense for required contributions to defined contribution plans quarterly, and we recognize a liability for any contributions due and unpaid within Accrued group welfare and retirement plan contributions within our consolidated balance sheets. We participate in a number of trustee-managed multiemployer pension and health and welfare plans for employees covered under collective bargaining agreements. Our contributions to these plans are determined in accordance with the respective collective bargaining agreements. We recognize expense for the contractually required contribution for each period, and we recognize a liability for any contributions due and unpaid within Accrued group welfare and retirement plan contributions . Income Taxes Income taxes are accounted for on an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. In estimating future tax consequences, we generally consider all expected future events other than proposed changes in the tax law or rates. Valuation allowances are provided if it is more likely than not that a deferred tax asset will not be realized. Our current accounting policy for releasing income tax effects from other comprehensive income is based on a portfolio approach. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. Once it is determined that the position meets the recognition threshold, the second step requires us to estimate and measure the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement. The difference between the amount of recognizable tax benefit and the total amount of tax benefit from positions filed or to be filed with the tax authorities is recorded as a liability for uncertain tax benefits. It is inherently difficult and subjective to estimate such amounts, as we have to determine the probability of various possible outcomes. We reevaluate uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an additional charge to the tax provision. Foreign Currency Translation and Remeasurement We translate the results of operations of our foreign subsidiaries using average exchange rates for each period, whereas balance sheet accounts are translated using exchange rates at the end of each period. Balance sheet currency translation adjustments are recorded in other comprehensive income. Pre-tax foreign currency transaction gains (losses) from remeasurement, net of hedging, included in Investment income (expense) and other were $(38), $(53) and $72 million in 2024, 2023 and 2022, respectively. Stock-Based Compensation Share-based awards are measured based on their fair values and expensed over the period during which an employee is required to provide service in exchange for the award (the vesting period), less estimated forfeitures. We have issued employee share-based awards under various incentive compensation plans that contain vesting conditions, including service conditions, where the awards cliff vest after one Fair Value Measurements Our financial assets and liabilities measured at fair value on a recurring basis have been categorized based upon a fair value hierarchy. Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Level 2 inputs are based on other observable market data, such as quoted prices for similar assets and liabilities, and inputs other than quoted prices that are observable, such as interest rates and yield curves. Level 3 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. Certain investments described further in note 5, that do not have a readily determinable fair value, are measured at net asset value ("NAV") using NAV as a practical expedient or an equivalent developed consistent with the measurement principles in Accounting Standards Codification Topic 820. Plan assets that are measured using NAV as a practical expedient are excluded from the fair value hierarchy. Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, including property, plant, and equipment, goodwill and intangible assets. These assets are subject to fair value adjustments in certain circumstances, such as when there is an impairment. For business acquisitions, we allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and identified intangible assets based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. During the measurement period, which is up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Following the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Derivative Instruments We recognize all derivative instruments as assets or liabilities in our consolidated balance sheets at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, we designate the derivative as a cash flow hedge, a fair value hedge or a hedge of a net investment in a foreign operation based upon the exposure being hedged. • A cash flow hedge refers to hedging the exposure to variability in expected future cash flows that is attributable to a particular risk. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of other comprehensive income, and reclassified into earnings in the period during which the hedged transaction affects earnings. • A fair value hedge refers to hedging the exposure to changes in the fair value of an existing asset or liability that is attributable to a particular risk. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative instrument is recognized in earnings during the current period, together with the gain or loss on the hedged item. • A net investment hedge refers to the use of cross currency swaps, forward contracts or foreign-currency-denominated debt to hedge portions of net investments in foreign operations. For instruments that meet the hedge accounting requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in the foreign currency translation adjustment within other comprehensive income, and are recorded in the income statement when the hedged item affects earnings. Adoption of New Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848), and in December 2022 subsequently issued ASU 2022-06, to temporarily ease the potential burden in accounting for reference rate reform. As of December 31, 2023, we had transitioned our affected debt instruments and contracts to an alternative reference rate and, as a result, we did not elect to apply the practical expedients provided under Topic 848 to these transitions, and we did not observe any further impact as of December 31, 2024. In November 2023, the FASB issued an ASU on segment reporting. The standard requires new disclosures reconciling significant segment expenses to segment profit measures and additional qualitative information about how segment measures are used by management. Effective December 31, 2024, we adopted this ASU retrospectively for all prior periods presented. The adoption did not have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. See note 14 for our segment disclosures. Other accounting pronouncements adopted during the periods covered by the consolidated financial statements did not have a material impact on our consolidated financial position, results of operations, cash flows or internal controls. Accounting Standards Issued But Not Yet Effective In December 2023, the FASB issued an ASU to enhance tax-related disclosures. This update will require more standardized categories for tax rate reconciliation and additional detail for significant tax items. It will also require a breakdown of income taxes paid by jurisdiction exceeding 5% of total taxes and remove certain disclosure requirements for unremitted foreign earnings and uncertain tax positions. The standard becomes effective for us in the first quarter of 2025. We are evaluating its impact on our financial statements, disclosures and internal controls but do not expect this ASU to have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. In November 2024, the FASB issued an ASU on expense disaggregation disclosures, which will require tabular disclosure in the notes to financial statements for specific expense categories. The standard becomes effective for us beginning with our 2027 annual report and for interim and annual periods thereafter. This ASU provides for additional expense disclosures. We are evaluating its impact on our financial statements, disclosures and internal controls but do not expect this ASU to have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. Other accounting pronouncements issued, but not effective until after December 31, 2024, are not expected to have a material impact on our consolidated financial position, results of operations, cash flows or internal controls.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 2. 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"). 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 through our global network of company-owned and leased distribution centers and field stocking locations. Disaggregation of Revenue Year Ended December 31, 2024 2023 2022 Revenue: Next Day Air $ 9,703 $ 9,894 $ 10,699 Deferred 4,757 5,093 5,968 Ground 45,347 44,971 47,542 Cargo & Other 569 247 402 U.S. Domestic Package $ 60,376 $ 60,205 $ 64,611 Domestic $ 3,186 $ 3,144 $ 3,346 Export 14,142 14,003 15,341 Cargo & Other 632 684 1,011 International Package $ 17,960 $ 17,831 $ 19,698 Forwarding $ 4,728 $ 5,534 $ 8,943 Logistics 6,437 5,927 5,351 Other 1,569 1,461 1,735 Supply Chain Solutions $ 12,734 $ 12,922 $ 16,029 Consolidated revenue $ 91,070 $ 90,958 $ 100,338 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. As of the fourth quarter of 2024, based on a change in our management reporting structure, U.S. Air Cargo revenue is presented within our U.S. Domestic Package segment and prior periods have been recast. Refer to note 14 for further information. 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. The vast majority of our contracts with customers are for transportation services that include only one performance obligation; the transportation services themselves. If a contract contains 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 services underlying each performance obligation. 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 that is accounted for as one performance obligation. Satisfaction of Performance Obligations We generally recognize revenue over time as we perform services in the contract because our customers receive the benefit of our services as goods are transported from one location to another. Further, if we were unable to complete delivery to the final location, those services would not need to be re-performed. We recognize revenue based on the extent of progress towards completion of our services. We use the cost-to-cost measure of progress for our package delivery contracts because it best depicts the benefit received by the customer, which occurs as we incur costs on our contracts. Under this measure, 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 service. 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 benefit 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; therefore we recognize revenue in the amount to which we have a right to invoice the customer. Variable Consideration Our contracts commonly contain customer incentives, guaranteed service refunds or other provisions that can either increase or decrease the rates paid for services. These variable amounts are generally dependent upon achievement of certain incentive tiers or performance metrics. We record revenue, which may be reduced by incentives or other contract provisions, to the extent it is probable that a significant reversal of cumulative amounts recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of revenue 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 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, customers pay 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 may utilize independent contractors and third-party carriers to perform transportation services. We have determined that all our major businesses act as principal rather than agent within their revenue arrangements. Consequently, revenue and the associated purchased transportation costs are 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 expected credit losses increased by $10 million during 2024 as a result of changes in the composition of invoice aging and certain customers' behaviors. Our allowance for credit losses as of December 31, 2024 and 2023 was $136 and $126 million, respectively. Amounts for credit losses charged to expense before recoveries during the years ended December 31, 2024 and 2023 were $311 and $205 million, respectively. Contract Assets and Liabilities Contract assets include billed and unbilled amounts resulting from in-transit shipments, as we have an unconditional right to payment only when services have been completed (i.e., shipments have been delivered). Amounts do 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 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 amount will be earned. We classify deferred revenue as current 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 and liabilities as of December 31, 2024 and 2023 were as follows (in millions): Balance Sheet Location 2024 2023 Contract Assets: Revenue related to in-transit packages Other current assets $ 307 $ 237 Contract Liabilities: Short-term advance payments from customers Other current liabilities $ 13 $ 20 Long-term advance payments from customers Other non-current liabilities $ 27 $ 25

MARKETABLE SECURITIES AND NON-C

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS	NOTE 3. MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS The following is a summary of marketable securities classified as trading and available-for-sale as of December 31, 2024 and 2023 (in millions): Cost Unrealized Unrealized Estimated 2024 Current trading marketable securities: Equity securities $ 3 $ — $ — $ 3 Total trading marketable securities 3 — — 3 Current available-for-sale marketable securities: U.S. government and agency debt securities 165 — (1) 164 Mortgage and asset-backed debt securities — — — — Corporate debt securities 39 — — 39 Non-U.S. government debt securities — — — — Total available-for-sale marketable securities 204 — (1) 203 Total current marketable securities $ 207 $ — $ (1) $ 206 Cost Unrealized Unrealized Estimated 2023 Current trading marketable securities: Equity securities $ 4 $ — $ — $ 4 Total trading marketable securities 4 — — 4 Current available-for-sale marketable securities: U.S. government and agency debt securities 963 2 (4) 961 Mortgage and asset-backed debt securities 3 — — 3 Corporate debt securities 1,891 4 (4) 1,891 Non-U.S. government debt securities 7 — — 7 Total available-for-sale marketable securities 2,864 6 (8) 2,862 Total current marketable securities $ 2,868 $ 6 $ (8) $ 2,866 Total current marketable securities that were pledged as collateral for our self-insurance requirements had estimated fair values of $177 and $343 million as of December 31, 2024 and 2023, respectively. The gross realized gains on sales of available-for-sale marketable securities totaled $5, $1 and $0 million in 2024, 2023 and 2022, respectively. The gross realized losses on sales of available-for-sale marketable securities totaled $5, $4 and $3 million in 2024, 2023 and 2022, respectively. There were no material impairment losses recognized on marketable securities during 2024, 2023 or 2022. Unrealized Losses The following table presents the age of gross unrealized losses and fair value by investment category for all securities in a loss position as of December 31, 2024 (in millions): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government and agency debt securities $ — $ — $ 162 $ (1) $ 162 $ (1) Total marketable securities $ — $ — $ 162 $ (1) $ 162 $ (1) Maturity Information The amortized cost and estimated fair value of marketable securities as of December 31, 2024 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 $ 161 $ 161 Due after one year through three years 43 42 Due after three years through five years — — Due after five years — — 204 203 Equity securities 3 3 $ 207 $ 206 Non-Current Investments We hold non-current investments that are reported within Other Non-Current Assets in our consolidated balance sheets. Cash paid for these investments, excluding investments obtained through business acquisitions, is included in Other investing activities in our statements of consolidated cash flows. • Equity method investments : As of December 31, 2024 and 2023, equity securities accounted for under the equity method had carrying values of $304 and $295 million, respectively. In 2023, we obtained an equity method investment as part of our acquisition of MNX Global Logistics. See note 8 for a further discussion of business acquisitions. Cash paid for this investment is included in Acquisitions, net of cash acquired in our statement of consolidated cash flows. • Other equity securities : Certain equity securities that do not have readily determinable fair values are reported in accordance with the measurement alternative in Accounting Standards Codification Topic 321 Investments – Equity Securities . As of December 31, 2024 and 2023, we had equity securities of $42 and $47 million, respectively, accounted for under this measurement alternative. • Other investments : 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 $19 million as of December 31, 2024 and 2023, respectively. Fair Value Measurements Marketable securities valued utilizing Level 1 inputs include active exchange-traded equity securities and equity index funds, certificates of deposits, 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, most 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 December 31, 2024 and 2023, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices in Significant Other Observable Significant Total 2024 Marketable Securities: U.S. government and agency debt securities $ 164 $ — $ — $ 164 Mortgage and asset-backed debt securities — — — — Corporate debt securities 25 14 — 39 U.S. state and local municipal debt securities — — — — Equity securities — 3 — 3 Non-U.S. government debt securities — — — — Total marketable securities 189 17 — 206 Other non-current investments (1) — 19 — 19 Total $ 189 $ 36 $ — $ 225 (1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan. Quoted Prices in Significant Other Significant Total 2023 Marketable Securities: U.S. government and agency debt securities $ 961 $ — $ — $ 961 Mortgage and asset-backed debt securities — 3 — 3 Corporate debt securities — 1,891 — 1,891 U.S. state and local municipal debt securities — — — — Equity securities — 4 — 4 Non-U.S. government debt securities — 7 — 7 Total marketable securities 961 1,905 — 2,866 Other non-current investments (1) — 19 — 19 Total $ 961 $ 1,924 $ — $ 2,885 (1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan. There were no transfers of investments into or out of Level 3 during 2024 or 2023.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 4. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment, including owned assets and assets subject to finance leases, consisted of the following as of December 31, 2024 and 2023 (in millions): 2024 2023 Vehicles $ 11,912 $ 11,768 Aircraft 23,768 22,888 Land 2,104 2,138 Buildings 6,714 6,255 Building and leasehold improvements 5,601 5,241 Plant equipment 18,495 17,322 Technology equipment 2,735 2,656 Construction-in-progress 1,967 3,247 73,296 71,515 Less: Accumulated depreciation and amortization (36,117) (34,570) Property, Plant and Equipment, Net $ 37,179 $ 36,945 Property, plant and equipment purchased on account was $227 and $309 million as of December 31, 2024 and 2023, respectively. There were no material impairment charges to property, plant and equipment during the years ended December 31, 2024 or 2023. We will continue to monitor our long-lived asset groups for impairment. During the first quarter of 2025, we entered into an agreement in principle with our largest customer that will provide for a significant reduction in their volume. In connection therewith, we will be reconfiguring our U.S. network and expect this reconfiguration to lead to a reduction in the number of buildings, vehicles and aircraft in our network. We are not yet able to identify the specific assets which will be impacted by these actions; however, it is reasonably possible that revisions to our estimates of the useful life and salvage values of certain of our long-lived assets will accelerate depreciation expense and charges related to early retirements may be recognized during future periods.

COMPANY-SPONSORED EMPLOYEE BENE

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS	NOTE 5. COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS We sponsor various retirement, postretirement and pension plans, including defined benefit and defined contribution plans, which cover our employees worldwide. U.S. Pension Benefits In the U.S. we maintain the following single-employer defined benefit pension plans: • The UPS Retirement Plan is noncontributory and includes substantially all eligible employees of participating domestic subsidiaries hired prior to July 1, 2016 who are not members of a collective bargaining unit, as well as certain employees covered by a collective bargaining agreement. This plan generally provides for retirement benefits based on average compensation earned by employees prior to retirement. Benefits payable under this plan are subject to maximum compensation limits and the annual benefit limits for a tax-qualified defined benefit plan as prescribed by the Internal Revenue Service (“IRS”). The plan ceased accruals of additional benefits for future service and compensation for non-union participants effective January 1, 2023. • The UPS Pension Plan is noncontributory and includes certain eligible employees of participating domestic subsidiaries and members of collective bargaining units that elect to participate in the plan. This plan generally provides for retirement benefits based on service credits earned by employees prior to retirement. • The UPS/IBT Full-Time Employee Pension Plan is noncontributory and includes employees that were previously members of the Central States Pension Fund ("CSPF"), a multiemployer pension plan, in addition to other eligible employees who are covered under certain collective bargaining agreements. This plan generally provides for retirement benefits based on service credits earned by employees prior to retirement. • The UPS Excess Coordinating Benefit Plan is a non-qualified plan that provides benefits to certain participants in the UPS Retirement Plan, hired prior to July 1, 2016, for amounts that exceed the benefit limits described above. The plan ceased accruals of additional benefits for future service and compensation for non-union participants effective January 1, 2023 Refer to note 6 for the status of our collective bargaining agreements. International Pension Benefits We also sponsor various defined benefit plans covering certain of our international employees. The majority of our international obligations are for defined benefit plans in Canada and the United Kingdom. In addition, many of our international employees are covered by government-sponsored retirement and pension plans. We are not directly responsible for providing benefits to participants of government-sponsored plans. During 2022, we amended certain Canadian defined benefit pension plans to cease future benefit accruals effective December 31, 2023. We remeasured plan assets and benefit obligations for the plans, which resulted in curtailment gains of $34 million ($24 million after tax). These gains were included in Investment income (expense) and other in our statement of consolidated income for the year ended December 31, 2022. U.S. Postretirement Medical Benefits We also sponsor postretirement medical plans in the U.S. that provide healthcare benefits to certain non-union retirees, as well as select union retirees who meet certain eligibility requirements and who are not otherwise covered by multiemployer plans. Generally, this includes employees with at least 10 years of service who have reached age 55 and employees who are eligible for postretirement medical benefits from a company-sponsored plan pursuant to collective bargaining agreements. We have the right to modify or terminate certain of these plans. These benefits have been provided to certain retirees on a noncontributory basis; however, in many cases, retirees are required to contribute all or a portion of the total cost of the coverage. Defined Contribution Plans We sponsor a defined contribution plan for employees not covered under collective bargaining agreements, and several smaller defined contribution plans for certain employees covered under collective bargaining agreements. We match, in cash, a portion of the participating employees’ contributions. Matching contributions charged to expense were $161, $161 and $153 million for 2024, 2023 and 2022, respectively. Beginning in 2023, non-union employees, including those previously accruing benefits in the UPS Retirement Plan, receive an annual retirement contribution of 5% to 8% (3% to 8% prior to 2023 for employees hired after July 1, 2016) of eligible compensation to the UPS 401(k) Savings Plan based on years of vesting service. Effective January 1, 2025, the UPS Retirement Plan contribution for certain non-union employees with an employment commencement date on or after January 1, 2025 is 3% of eligible compensation, regardless of years of vesting service. Retirement contributions charged to expense were $359, $380 and $83 million for 2024, 2023 and 2022, respectively. In addition, the UPS 401(k) Savings Plan provides for transition contributions to certain participants hired prior to 2008. The amounts charged to expense for transition contributions were $108 and $128 million for 2024 and 2023, respectively. There were no transition contributions in years prior to 2023. Contributions under this plan are subject to maximum compensation and contribution limits for a tax-qualified defined contribution plan as prescribed by the IRS. The UPS Restoration Savings Plan is a non-qualified plan that provides benefits to certain participants in the UPS 401(k) Savings Plan for amounts that exceed these benefit limits. Contributions are also made to defined contribution money purchase plans under certain collective bargaining agreements. Amounts charged to expense were $135, $132 and $119 million for 2024, 2023 and 2022, respectively. We also sponsor certain international defined contribution plans, which are not individually material. Net Periodic Benefit Cost Information about net periodic benefit cost for the company-sponsored pension and postretirement defined benefit plans is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2022 2024 2023 2022 2024 2023 2022 Net Periodic Benefit Cost: Service cost $ 1,240 $ 1,172 $ 2,024 $ 20 $ 20 $ 30 $ 42 $ 43 $ 68 Interest cost 2,574 2,508 1,950 109 116 83 66 66 45 Expected return on plan assets (3,085) (2,967) (3,280) (4) (12) (4) (83) (84) (78) Amortization of prior service cost 152 106 93 1 2 — 1 1 1 Actuarial (gain) loss 673 393 (875) — — — (8) (42) (152) Curtailment and settlement (gain) loss — — — — — — — 8 (34) Net periodic benefit cost $ 1,554 $ 1,212 $ (88) $ 126 $ 126 $ 109 $ 18 $ (8) $ (150) Actuarial Assumptions The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost: U.S. Pension Benefits U.S. Postretirement International 2024 2023 2022 2024 2023 2022 2024 2023 2022 Service cost discount rate 5.42 % 5.79 % 3.13 % 5.80 % 6.06 % 3.28 % 4.59 % 5.09 % 2.78 % Interest cost discount rate 5.42 % 5.79 % 3.13 % 5.80 % 6.06 % 3.28 % 4.56 % 5.02 % 2.74 % Rate of compensation increase 3.25 % 3.25 % 4.29 % N/A N/A N/A 3.19 % 3.20 % 3.17 % Expected return on plan assets 7.17 % 7.07 % 5.90 % 6.36 % 6.62 % 4.77 % 4.54 % 5.13 % 3.87 % Cash balance interest credit rate 3.83 % 4.21 % 2.50 % N/A N/A N/A 3.31 % 3.69 % 2.94 % The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans: U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Discount rate 5.88 % 5.42 % 6.18 % 5.80 % 4.45 % 4.21 % Rate of compensation increase 3.25 % 3.25 % N/A N/A 3.04 % 3.19 % Cash balance interest credit rate 4.30 % 3.83 % N/A N/A 3.09 % 3.31 % A discount rate is used to determine the present value of our future benefit obligations. To determine the discount rate for our U.S. pension and postretirement benefit plans, we use a bond matching approach to select specific bonds that would satisfy our projected benefit payments. We believe the bond matching approach reflects the process we would employ to settle our pension and postretirement benefit obligations. For our international plans, the discount rate is determined by matching the expected cash flows of the plan, where available, or of a sample plan of similar duration, to a yield curve based on long-term, high quality fixed income debt instruments available as of the measurement date. These assumptions are updated each measurement date, which is typically annually. As of December 31, 2024, the impact of each basis point change in the discount rate on the projected benefit obligation of our pension and postretirement medical benefit plans was as follows (in millions): Increase (Decrease) in the Projected Benefit Obligation Pension Benefits Postretirement Medical Benefits One basis point increase in discount rate $ (57) $ (1) One basis point decrease in discount rate $ 60 $ 1 The Society of Actuaries ("SOA") published mortality tables and improvement scales are used in developing the best estimate of mortality for our U.S. plans. In October 2024, the SOA elected to not release a new mortality improvement scale. Based on our perspective of future longevity, we elected to maintain the MP 2021 mortality scale assumption for purposes of measuring pension and other postretirement benefit obligations. Assumptions for the expected return on plan assets are used to determine a component of net periodic benefit cost for the year. The assumption for our U.S. plans is developed using a long-term projection of returns for each asset class. Our asset allocation targets are reviewed annually and, if necessary, updated taking into consideration plan changes, funded status and actual performance. The expected return for each asset class is a function of passive, long-term capital market assumptions and excess returns generated from active management. The capital market assumptions used are provided by independent investment advisors, while excess return assumptions are supported by historical performance, fund mandates and investment expectations. As a result of our long-term U.S. capital market assumptions and investment objectives for pension assets, the weighted-average long-term expected rate of return on assets increased from 7.07% during 2023 to 7.17% in 2024. For plans outside the U.S., consideration is given to local market expectations of long-term returns. Strategic asset allocations are determined by plan, based on the nature of liabilities and considering the demographic composition of the plan participants. Actuarial Assumptions - Central States Pension Fund UPS was a contributing employer to the CSPF until 2007, at which time UPS withdrew from the CSPF. 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 reduced by the CSPF consistent with the terms of our withdrawal agreement with the CSPF. Under this agreement, benefits to the UPS Transfer Group cannot be reduced without our consent and can only be reduced in accordance with law. In the event CSPF were to become insolvent, CSPF benefits would be reduced to the legally permitted Pension Benefit Guaranty Corporation ("PBGC") limits, triggering the coordinating benefits provision in the collective bargaining agreement. We account for the potential obligation to pay coordinating benefits under ASC Topic 715, which requires us to provide a best estimate of various actuarial assumptions in measuring our pension benefit obligation at the December 31 measurement date. As of December 31, 2024, our best estimate of coordinating benefits that may be required to be paid by the UPS/IBT Plan was immaterial. The value of our estimate for future coordinating benefits will continue to be influenced by a number of factors, including interpretations of the law, future legislative actions, actuarial assumptions and the ability of the CSPF to sustain its long-term 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 Topic 715. Other Actuarial Assumptions Healthcare cost trends are used to project future postretirement medical benefits payable from our plans. For purposes of measuring our U.S. plan obligations as of December 31, 2024, a 7.50% annual rate of increase in postretirement medical benefit costs was assumed; the rate was assumed to decrease gradually to 4.50% by 2037 and to remain at that level thereafter. Funded Status The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31 (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Funded Status: Fair value of plan assets $ 41,499 $ 43,491 $ 119 $ 98 $ 1,778 $ 1,893 Benefit obligation (46,559) (47,712) (1,850) (1,974) (1,500) (1,601) Funded status recognized at December 31 $ (5,060) $ (4,221) $ (1,731) $ (1,876) $ 278 $ 292 Funded Status Amounts Recognized in our Balance Sheet: Other non-current assets $ — $ — $ — $ — $ 480 $ 510 Other current liabilities (27) (26) (100) (123) (7) (7) Pension and postretirement benefit obligations (5,033) (4,195) (1,631) (1,753) (195) (211) Net liability at December 31 $ (5,060) $ (4,221) $ (1,731) $ (1,876) $ 278 $ 292 Amounts Recognized in AOCI (1) : Unrecognized net prior service cost $ (1,251) $ (1,326) $ (1) $ (2) $ (5) $ (7) Unrecognized net actuarial gain (loss) (2,686) (2,097) 131 129 107 99 Gross unrecognized cost at December 31 (3,937) (3,423) 130 127 102 92 Deferred tax asset at December 31 956 831 (32) (31) (32) (28) Net unrecognized cost at December 31 $ (2,981) $ (2,592) $ 98 $ 96 $ 70 $ 64 (1) Accumulated Other Comprehensive Income (Loss) The accumulated benefit obligation for our pension plans as of December 31, 2024 and 2023 was $48.0 and $49.2 billion, respectively. The accumulated benefit obligation for our postretirement medical benefit plans as of December 31, 2024 and 2023 was $1.9 and $2.0 billion, respectively. Benefit payments under the pension plans include $37 and $35 million paid from employer assets for the years ended December 31, 2024 and 2023, respectively. Benefit payments (net of participant contributions) under the postretirement medical benefit plans include $264 and $51 million paid from employer assets for the years ended December 31, 2024 and 2023, respectively. Such benefit payments from employer assets are also categorized as employer contributions. As of December 31, 2024 and 2023, the projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions): Projected Benefit Obligation Accumulated Benefit Obligation 2024 2023 2024 2023 U.S. Pension Benefits: Projected benefit obligation $ 46,559 $ 47,712 $ 46,559 $ 47,712 Accumulated benefit obligation 46,526 47,674 46,526 47,674 Fair value of plan assets 41,499 43,491 41,499 43,491 International Pension Benefits: Projected benefit obligation $ 337 $ 345 $ 281 $ 315 Accumulated benefit obligation 301 304 255 281 Fair value of plan assets 135 127 88 100 The accumulated postretirement benefit obligation presented in the funded status table exceeds plan assets for all U.S. postretirement medical benefit plans. Benefit Obligations and Fair Value of Plan Assets The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Benefit Obligations: Projected benefit obligation at beginning of year $ 47,712 $ 43,504 $ 1,974 $ 2,016 $ 1,601 $ 1,416 Service cost 1,240 1,172 20 20 42 43 Interest cost 2,574 2,508 109 116 66 66 Gross benefits paid (2,604) (2,437) (284) (265) (55) (46) Plan participants’ contributions — — 39 34 4 4 Plan amendments (1) 76 699 — — — — Actuarial (gain)/loss (2,438) 2,266 (7) 53 (58) 99 Foreign currency exchange rate changes — — — — (99) 51 Curtailments and settlements — — — — (4) (38) Other (1) — (1) — 3 6 Projected benefit obligation at end of year $ 46,559 $ 47,712 $ 1,850 $ 1,974 $ 1,500 $ 1,601 U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Fair Value of Plan Assets: Fair value of plan assets at beginning of year $ 43,491 $ 42,058 $ 98 $ 215 $ 1,893 $ 1,643 Actual return on plan assets (615) 2,664 (2) (8) 41 201 Employer contributions 1,228 1,206 269 122 27 65 Plan participants’ contributions — — 39 34 4 4 Gross benefits paid (2,604) (2,437) (284) (265) (55) (46) Foreign currency exchange rate changes — — — — (118) 64 Curtailments and settlements — — — — (4) (38) Other (1) — (1) — (10) — Fair value of plan assets at end of year $ 41,499 $ 43,491 $ 119 $ 98 $ 1,778 $ 1,893 (1) Plan amendments in 2024 and 2023 were related to collective bargaining agreements with the Teamsters. 2024 - $2.5 billion pre-tax actuarial gain related to benefit obligations: • Discount Rates ($2.8 billion pre-tax gain): The weighted-average discount rate for our pension and postretirement medical plans increased from 5.40% as of December 31, 2023 to 5.85% as of December 31, 2024, primarily due to an increase in treasury yields on AA-rated corporate bonds. • Demographic and Assumption Changes ($0.3 billion pre-tax loss): This represents the difference between actual and estimated participant data and demographic factors, including healthcare cost trends, compensation changes, rates of termination, retirement, mortality and other changes. 2023 - $2.4 billion pre-tax actuarial loss related to benefit obligations: • Discount Rates ($2.3 billion pre-tax loss): The weighted-average discount rate for our pension and postretirement medical plans decreased from 5.77% as of December 31, 2022 to 5.40% as of December 31, 2023, primarily due to a decrease in credit spreads on AA-rated corporate bonds. • Demographic and Assumption Changes ($0.1 billion pre-tax loss): This represents the difference between actual and estimated participant data and demographic factors, including healthcare cost trends, compensation changes, rates of termination, retirement, mortality and other changes. Pension and Postretirement Plan Assets Pension assets are invested in accordance with applicable laws and regulations, as well as investment guidelines established by plan trustees. The strategic asset mixes are specifically tailored for each plan given distinct factors, including liability and liquidity needs. Equities, alternative investments, and other higher-yielding assets are utilized to generate returns and promote growth. Derivatives, repurchase/reverse repurchase agreements and fixed income securities are utilized as tools for duration management, mitigating interest rate risk, and minimizing funded status volatility. The primary long-term investment objectives for pension assets are to provide for a reasonable amount of long-term capital growth to meet future obligations while minimizing risk exposures and reducing funded status volatility. To meet these objectives, investment managers are engaged to actively manage assets within the guidelines and strategies set forth by our investment committee. Active managers are monitored regularly and their performance is compared to applicable benchmarks. Fair Value Measurements Plan assets valued utilizing Level 1 inputs include equity investments, corporate debt instruments, U.S. government securities, derivatives and other instruments. Fair values were determined by closing prices for those securities traded on national stock exchanges, while securities traded in the over-the-counter market and listed securities for which no sale was reported on the valuation date are valued at the mean between the last reported bid and ask prices. Level 2 assets include fixed income securities that are valued based on yields currently available on comparable securities of other issues with similar credit ratings; mortgage-backed securities that are valued based on cash flow and yield models using acceptable modeling and pricing conventions; hedge funds, equity securities and certain investments that are pooled with other investments in a commingled fund; and derivatives and other instruments primarily valued using pricing models that rely on market observable inputs such as yield curves, foreign currency exchange rates and investment forward price. We value our investments in commingled funds by taking the percentage ownership of the underlying assets, each of which has a readily determinable fair value. Fair value estimates for certain investments are based on unobservable inputs that are not corroborated by observable market data and are thus classified as Level 3. Investments that do not have a readily determinable fair value, and which provide a NAV or its equivalent developed consistent with ASC measurement principles, are valued using NAV as a practical expedient. These investments are not classified in Levels 1, 2, or 3 of the fair value hierarchy but instead included within the subtotals by asset category. Such investments include hedge funds, real estate investments, private debt and private equity funds. Investments in hedge funds are valued using the reported NAV as of December 31. Real estate investments, private debt and private equity funds are valued at NAV per the most recent partnership audited financial reports, and adjusted, as appropriate, for investment activity between the date of the financial reports and December 31. Due to the inherent limitations in obtaining a readily determinable fair value measurement for alternative investments, the fair values reported may differ from the values that would have been used had readily available market information for the alternative investments existed. These investments are described further below: • Hedge Funds : Plan assets are invested in hedge funds that pursue multiple strategies to diversify risk and reduce volatility. Most of these hedge funds allow redemptions either quarterly or semi-annually after a two- to three-month notice period, while others allow for redemption after only a brief notification period with no restriction on redemption frequency. No unfunded commitments existed with respect to hedge funds as of December 31, 2024. • Real Estate, Private Debt and Private Equity Funds : Plan assets are invested in limited partnership interests in various private equity, private debt and real estate funds. Limited provisions exist for the redemption of these interests by the limited partners that invest in these funds until the end of the term of the partnerships, typically ranging between 10 and 15 years from the date of inception. An active secondary market exists for similar partnership interests, although no particular value (discount or premium) can be guaranteed. As of December 31, 2024, unfunded commitments to such limited partnerships totaling approximately $2.7 billion are expected to be contributed over the remaining investment period, typically ranging between three The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2024 and 2023 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations. The asset categories within equity securities, fixed income securities, and alternative and other investments in the table below have been collapsed from prior year presentation to align with the nature, characteristics, and type of underlying risk of those assets. There were no transfers between asset categories. December 31, 2024 Total Assets (1) Level 1 Level 2 Level 3 Percentage of Plan Assets Percentage Target Asset Category (U.S. Plans): Cash and cash equivalents (3) $ 5,716 $ 5,450 $ 266 $ — 13.7 % 1-7% Equity securities 6,979 3,270 3,709 — 16.8 % 15-45% Fixed income securities 19,643 13,375 6,247 21 47.2 % 30-73% Alternative and other investments (1) : Hedge funds 2,034 — 538 — 4.9 % 3-13% Real estate 2,674 301 77 — 6.4 % 3-15% Private equity, private debt, and other investments 6,508 — 195 — 15.6 % 5-29% Total Alternative and other investments 11,216 301 810 — Derivatives and other instruments, net: Equity risk (392) (99) (294) — (0.9) % Interest rate risk (1,619) (442) (1,177) — (3.9) % Other risk (2) 75 2 73 — 0.2 % Total Derivatives and other instruments (1,936) (539) (1,398) — Total U.S. plan assets $ 41,618 $ 21,857 $ 9,634 $ 21 100.0 % Asset Category (International Plans): Cash and cash equivalents $ 127 $ 127 $ — $ — 7.1 % 1-10% Equity securities 165 23 142 — 9.3 % 1-10% Fixed income securities 1,202 243 959 — 67.6 % 50-75% Alternative and other investments (1) : Real estate 62 — 17 23 3.5 % 1-10% Private equity, private debt, and other investments 222 — 189 18 12.5 % 10-35% Total International plan assets $ 1,778 $ 393 $ 1,307 $ 41 100.0 % Total plan assets $ 43,396 $ 22,250 $ 10,941 $ 62 (1) Includes certain investments that are measured at NAV per share (or its equivalent). (2) Includes credit risk, foreign currency exchange risk and commodity risk. (3) Includes $2.7 billion of cash held as collateral for market exposures, which is not subject to the target allocations. December 31, 2023 Total Assets (1) Level 1 Level 2 Level 3 Percentage of Percentage Target Asset Category (U.S. Plans): Cash and cash equivalents $ 1,018 $ 894 $ 124 $ — 2.3 % 1-7% Equity securities 10,164 3,448 6,716 — 23.3 % 15-45% Fixed income securities 25,673 17,299 8,374 — 58.9 % 30-70% Alternative and other investments (1) : Hedge funds 3,959 28 2,194 — 9.1 % 3-13% Real estate 2,575 393 77 — 5.9 % 3-15% Private equity, private debt, and other investments 6,188 — 169 — 14.2 % 5-35% Total Alternative and other investments 12,722 421 2,440 — Derivative and other instruments, net: Equity risk contracts (136) 29 (165) — (0.3) % Interest rate risk contracts (5,877) (20) (5,857) — (13.5) % Other risk (2) 25 (1) 26 — 0.1 % Total Derivative and other instruments (5,988) 8 (5,996) — Total U.S. plan assets $ 43,589 $ 22,070 $ 11,658 $ — 100.0 % Asset Category (International Plans): Cash and cash equivalents $ 71 $ 77 $ (6) $ — 3.8 % 1-10% Equity securities 109 20 89 — 5.8 % 1-10% Fixed income securities 1,392 312 1,080 — 73.5 % 50-75% Alternative and other investments (1) : Real estate 66 — 18 25 3.5 % 1-10% Private equity, private debt, and other investments 255 — 183 55 13.4 % 10-35% Total International plan assets $ 1,893 $ 409 $ 1,364 $ 80 100.0 % Total plan assets $ 45,482 $ 22,479 $ 13,022 $ 80 (1) Includes certain investments that are measured at NAV per share (or its equivalent). (2) Includes credit risk, foreign currency exchange risk and commodity risk. The following table presents the changes in the Level 3 instruments measured on a recurring basis for the years ended December 31, 2024 and 2023 (in millions): Fixed Income Securities Alternative and Other Investments Total Balance as of January 1, 2023 $ — $ 77 $ 77 Actual Return on Assets: Assets Held at End of Year — 4 4 Assets Sold During the Year 2 — 2 Purchases 450 2 452 Sales (452) (3) (455) Transfers Into (Out of) Level 3 — — — Balance as of December 31, 2023 $ — $ 80 $ 80 Actual Return on Assets: Assets Held at End of Year (1) 1 — Assets Sold During the Year 4 (12) (8) Purchases 38 — 38 Sales (10) (28) (38) Transfers Into (Out of) Level 3 (10) — (10) Balance as of December 31, 2024 $ 21 $ 41 $ 62 There were no shares of UPS class A or class B common stock directly held in plan assets as of December 31, 2024 or 2023. Expected Cash Flows Information about expected cash flows for our pension and postretirement medical benefit plans is as follows (in millions): U.S. U.S. Postretirement International Pension Benefits Expected Employer Contributions: 2025 to plan trust $ 1,170 $ 140 $ 10 2025 to plan participants 28 93 7 Expected Benefit Payments: 2025 $ 2,395 $ 209 $ 55 2026 2,529 199 61 2027 2,665 190 67 2028 2,800 179 74 2029 2,926 169 79 2030 - 2034 16,292 731 469 Our funding policy guideline for U.S. plans is to contribute amounts annually that are at least equal to the amounts required by applicable laws and regulations. International plans will be funded in accordance with local regulations. Additional discretionary contributions may be made when deemed appropriate to meet the long-term obligations of the plans. Expected benefit payments for pensions will be paid primarily from plan trusts. Expected benefit payments for postretirement medical benefits will be paid from plan trusts and corporate assets.

MULTIEMPLOYER EMPLOYEE BENEFIT

MULTIEMPLOYER EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2024
Postemployment Benefits [Abstract]
MULTIEMPLOYER EMPLOYEE BENEFIT PLANS	NOTE 6. MULTIEMPLOYER EMPLOYEE BENEFIT PLANS We contribute to a number of multiemployer pension plans under the terms of collective bargaining agreements that cover our union-represented employees. These plans generally provide for retirement, death and/or termination benefits for eligible employees within the applicable collective bargaining units, based on specific eligibility and participation requirements, vesting periods and benefit formulas. The risks of participating in multiemployer plans are different from single-employer plans in the following respects: • Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. • If we negotiate to cease participating in a multiemployer pension plan, we may be required to pay that plan an amount based on our allocable share of its underfunded status, referred to as a "withdrawal liability". However, cessation of participation in a multiemployer plan and subsequent payment of any withdrawal liability is subject to the collective bargaining process. • If any of the multiemployer pension plans in which we participate enter critical status, and our contributions are not sufficient to satisfy any rehabilitation plan funding schedule, we could be required under the Pension Protection Act of 2006 to make additional surcharge contributions to the multiemployer pension plan in the amount of five to ten percent of the existing contributions required by our labor agreement. Such surcharges would cease upon the ratification of a new collective bargaining agreement and could not reoccur unless a plan re-entered critical status at a later date. The discussion that follows sets forth the impact on our results of operations and cash flows for the years ended December 31, 2024, 2023 and 2022 from our participation in multiemployer pension plans. As part of the overall collective bargaining process for wage and benefit levels, we have agreed to contribute certain amounts to these plans during the contract period. The plans set benefit levels and are responsible for benefit delivery to participants. Future contributions to the plans are determined only through collective bargaining, and we have no additional legal or constructive obligation to increase contributions beyond the agreed-upon amounts (except potential surcharges under the Pension Protection Act of 2006 described above). The number of employees covered by multiemployer pension plans in 2024 was relatively consistent compared to 2023, but decreased in 2023 relative to 2022 as we reduced union headcount due to lower volume. In each year, contribution rates increased in accordance with the terms of our collective bargaining agreements. There have been no other significant changes that affect the comparability of 2024, 2023 and 2022 contributions. We recognize expense for the contractually-required contributions for each period, and we recognize a liability for any contributions due and unpaid at the end of a reporting period. Status of Collective Bargaining Agreements We have approximately 314,000 employees in the U.S. employed under a national master agreement and various supplemental agreements with local unions affiliated with the IBT. These agreements are scheduled to expire on July 31, 2028. We have approximately 10,000 employees in Canada employed under a collective bargaining agreement with the Teamsters which runs through July 31, 2025. We have approximately 3,300 pilots who are employed under a collective bargaining agreement with the Independent Pilots Association. This collective bargaining agreement becomes amendable September 1, 2025. We have approximately 1,900 airline mechanics who are covered by a collective bargaining agreement with Teamsters Local 2727 which becomes amendable November 1, 2026. In addition, approximately 3,000 of our auto and maintenance mechanics who are not employed under agreements with the Teamsters are employed under a collective bargaining agreement with the International Association of Machinists and Aerospace Workers ("IAM"). In July 2024, the IAM ratified a new National Master Agreement that expires on July 31, 2029. Multiemployer Pension Plans The following table outlines our participation in multiemployer pension plans as of December 31, 2024, 2023 and 2022, and sets forth our calendar year contributions and accruals for each plan. The EIN/Pension Plan Number column provides the Employer Identification Number ("EIN") and the three-digit plan number. The most recent Pension Protection Act zone status available in 2024 and 2023 relates to each plan's two most recent fiscal year ends. The zone status is based on information that we received from the plans’ administrators and is certified by each plan’s actuary. Plans certified in the red zone are generally less than 65% funded; plans certified in the orange zone are both less than 80% funded and have an accumulated funding deficiency, or are expected to have a deficiency in any of the next six The FIP / RP Status Pending / Implemented column indicates whether a financial improvement plan ("FIP") for yellow/orange zone plans, or a rehabilitation plan ("RP") for red zone plans, is either pending or has been implemented. As of December 31, 2024, all plans that have either a FIP or RP requirement have had the respective plan implemented. Our collectively-bargained contributions satisfy the requirements of all implemented FIPs and RPs and do not currently require the payment of any surcharges. In addition, minimum contributions outside of the agreed-upon contractual rates are not required. For the plans detailed in the following table, the expiration date of the associated collective bargaining agreements is July 31, 2028, with the exception of the IAM National Pension Fund / National Pension Plan, which has a July 31, 2029 associated expiration date. For all plans detailed in the following table, we provided more than 5% of the total plan contributions from all employers for 2024, 2023 and 2022, as disclosed in the annual filing with the Department of Labor for each respective plan. Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as contributions to each of these plans are not individually material. EIN / Pension Pension FIP / RP Status UPS Contributions and Accruals Surcharge Imposed Pension Fund 2024 2023 2024 2023 2022 Alaska Teamster-Employer Pension Plan 92-6003463-024 Red Red Yes Implemented $ 11 $ 10 $ 10 No Central Pennsylvania Teamsters Defined Benefit Plan 23-6262789-001 Green Green No NA 85 82 75 No Eastern Shore Teamsters Pension Fund 52-0904953-001 Green Green No NA 10 10 10 No Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund 55-6021850-001 Red Red Yes Implemented 21 21 21 No Hagerstown Motor Carriers and Teamsters Pension Fund 52-6045424-001 Green Green No NA 13 13 13 No I.A.M. National Pension Fund / National Pension Plan 51-6031295-002 Red Red Yes Implemented 53 50 48 No International Brotherhood of Teamsters Union Local No. 710 Pension Fund 36-2377656-001 Green Green No NA 194 196 191 No Local 705, International Brotherhood of Teamsters Pension Plan 36-6492502-001 Green Green No NA 142 138 136 No Local 804 I.B.T. & Local 447 I.A.M.—UPS Multiemployer Retirement Plan 51-6117726-001 Green Green No NA 139 143 144 No Milwaukee Drivers Pension Trust Fund 39-6045229-001 Green Green No NA 62 62 62 No New England Teamsters & Trucking Industry Pension Fund 04-6372430-001 Red Red Yes Implemented 224 234 167 No New York State Teamsters Conference Pension and Retirement Fund 16-6063585-074 Red Red Yes Implemented 136 139 149 No Teamster Pension Fund of Philadelphia and Vicinity 23-1511735-001 Green Green No NA 98 98 100 No Teamsters Joint Council No. 83 of Virginia Pension Fund 54-6097996-001 Green Green No NA 98 98 98 No Teamsters Local 639—Employers Pension Trust 53-0237142-001 Green Green No NA 83 84 85 No Teamsters Negotiated Pension Plan 43-6196083-001 Green Green No NA 47 49 49 No Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan 52-6043608-001 Green Green No NA 28 28 30 No United Parcel Service, Inc.—Local 177, I.B.T. Multiemployer Retirement Plan 13-1426500-419 Green Green No NA 111 122 124 No Western Conference of Teamsters Pension Plan 91-6145047-001 Green Green No NA 1,255 1,254 1,310 No Western Pennsylvania Teamsters and Employers Pension Fund 25-6029946-001 Red Red Yes Implemented 45 46 46 No All Other Multiemployer Pension Plans 92 76 73 Total Contributions $ 2,947 $ 2,953 $ 2,941 Agreement with the New England Teamsters and Trucking Industry Pension Fund In 2012, we reached an agreement with the New England Teamsters and Trucking Industry Pension Fund ("NETTI Fund"), a multiemployer pension plan in which UPS is a participant, to restructure the pension liabilities for approximately 10,200 UPS employees represented by the Teamsters. As of December 31, 2024 and 2023, we had $804 and $813 million, respectively, recognized in Other Non-Current Liabilities and $9 million as of December 31, 2024 and 2023 recorded in Other current liabilities in our consolidated balance sheets, representing the remaining balance of the NETTI Fund withdrawal liability. This liability is payable in equal monthly installments over a remaining term of approximately 38 years. Based on the borrowing rates currently available to us for long-term financing of a similar maturity, the fair value of the NETTI Fund withdrawal liability as of December 31, 2024 and 2023 was $651 and $710 million, respectively. We utilized Level 2 inputs in the fair value hierarchy to determine the fair value of this liability. Agreement with the District 9 International Association of Machinists and Aerospace Workers Pension Trust In 2024, we reached an agreement with the District 9 International Association of Machinists and Aerospace Workers Pension Trust ("IAM Fund"), a multiemployer plan in which UPS was a participant, to withdraw from the Fund and transfer the impacted UPS employees to the UPS Pension Plan. As of December 31, 2024, we had $19 million recorded in Other current liabilities in our consolidated balance sheets, representing the IAM Fund withdrawal liability. Multiemployer Health and Welfare Plans We also contribute to a number of multiemployer health and welfare plans covering both active and retired employees. Healthcare benefits are provided to participants who meet certain eligibility requirements as covered under the applicable collective bargaining unit. The following table sets forth our calendar year plan contributions and accruals. Certain plans have been aggregated in the All Other Multiemployer Health and Welfare Plans line, as the contributions to each of these plans are not individually material. UPS Contributions and Accruals Health and Welfare Fund 2024 2023 2022 Bay Area Delivery Drivers $ 41 $ 40 $ 40 Central Pennsylvania Teamsters Health & Pension Fund 48 46 42 Central States, South East & South West Areas Health and Welfare Fund 3,849 3,712 3,497 Delta Health Systems—East Bay Drayage Drivers 37 39 39 Joint Council #83 Health & Welfare Fund 63 63 62 Local 401 Teamsters Health & Welfare Fund 24 23 22 Local 804 Welfare Trust Fund 131 131 129 Milwaukee Drivers Pension Trust Fund—Milwaukee Drivers Health and Welfare Trust Fund 64 64 62 New York State Teamsters Health & Hospital Fund 89 87 89 Northern California General Teamsters (DELTA) 202 206 211 Northern New England Benefit Trust 82 83 87 Oregon / Teamster Employers Trust 68 69 70 Teamsters 170 Health & Welfare Fund 22 21 25 Teamsters Benefit Trust 59 57 58 Teamsters Local 175 & 505 Health and Welfare Fund 20 20 20 Teamsters Local 191 Health Fund 30 29 17 Teamsters Local 251 Health & Insurance Plan 22 22 26 Teamsters Local 638 Health Fund 74 73 70 Teamsters Local 639—Employers Health & Pension Trust Funds 35 36 38 Teamsters Local 671 Health Services & Insurance Plan 24 24 25 Teamsters Union 25 Health Services & Insurance Plan 73 73 75 Teamsters Western Region & Local 177 Health Care Plan 1,109 1,076 1,035 Truck Drivers and Helpers Local 355 Baltimore Area Health & Welfare Fund 21 23 23 Utah-Idaho Teamsters Security Fund 53 54 54 Washington Teamsters Welfare Trust 83 88 88 All Other Multiemployer Health and Welfare Plans 108 109 129 Total Contributions $ 6,431 $ 6,268 $ 6,033

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	NOTE 7. GOODWILL AND INTANGIBLE ASSETS The following table indicates the allocation of goodwill (in millions): U.S. Domestic International Supply Chain Consolidated Balance as of January 1, 2023 $ 847 $ 492 $ 2,884 $ 4,223 Acquired — 4 723 727 Impairments — — (125) (125) Currency / Other — 7 40 47 Balance as of December 31, 2023 $ 847 $ 503 $ 3,522 $ 4,872 Acquired — — 4 4 Divestiture — — (495) (495) Currency / Other — (16) (65) (81) Balance as of December 31, 2024 $ 847 $ 487 $ 2,966 $ 4,300 2024 Goodwill Activity Goodwill acquired during 2024 was associated with our acquisition of certain locations of The UPS Store. It also reflects the 2024 completion of purchase accounting allocations from our 2023 acquisitions of MNX Global Logistics and Happy Returns, which are both reported within Supply Chain Solutions. In 2024, the decrease in goodwill balance is primarily due to the divestiture of our truckload brokerage business ("Coyote") within Supply Chain Solutions as discussed in note 8. The remaining changes were due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances. 2023 Goodwill Activity Goodwill acquired during 2023 was primarily associated with our acquisitions of MNX Global Logistics and Happy Returns, which are both reported within Supply Chain Solutions. It also reflects the 2023 completion of purchase accounting allocations from our 2022 acquisition of Bomi Group. During 2023, we recorded non-cash goodwill impairment charges of $125 million, comprised of: $56 million related to our Roadie reporting unit, $61 million related to our Delivery Solutions reporting unit, which represented all the goodwill associated with that reporting unit, and an immaterial charge resulting from the closure of a trade management services business within Supply Chain Solutions. The remaining changes were due to the impact of changes in the value of the U.S. Dollar on the translation of non-U.S. Dollar goodwill balances. Goodwill Impairment We complete our annual goodwill impairment test as of July 1 on a reporting unit basis. The results concluded that the fair values of our reporting units were in excess of their respective carrying values. Approximately $1.1 billion of our consolidated goodwill balance of $4.3 billion is represented by our Global Freight Forwarding, Roadie and Global Logistics and Distribution reporting units which, based on our annual impairment evaluation, are exhibiting a limited excess of fair value above carrying value and reflect a greater risk of an impairment occurring in future periods. Based on our review of managerial realignments, which occurred as of October 1, 2024, we have determined that our MNX Global Logistics and Marken businesses are now within a single operating segment and, based on criteria in ASC Topic 350, also represent a single reporting unit. We performed impairment analyses as of October 1, 2024, reflective of our reporting unit structures before and after the reporting unit change, and did not identify any impairment of goodwill in connection therewith. We did not record any goodwill impairment charges in the years ended December 31, 2024 or 2022. In 2023, we recorded non-cash goodwill impairment charges of $125 million, as described above. Cumulatively, we have recorded $1.2 billion of goodwill impairment charges in Supply Chain Solutions, while our International and U.S. Domestic Package segments have not recorded any goodwill impairment charges. Intangible Assets The following is a summary of intangible assets as of December 31, 2024 and 2023 (in millions): Gross Carrying Accumulated Net Carrying Weighted-Average December 31, 2024 Capitalized software $ 6,088 $ (4,159) $ 1,929 6.9 Licenses 30 (12) 18 4.1 Franchise rights 348 (55) 293 20.0 Customer relationships 677 (206) 471 13.6 Trade name 109 (26) 83 10.2 Trademarks, patents and other 369 (103) 266 7.5 Amortizable intangible assets $ 7,621 $ (4,561) $ 3,060 8.2 Indefinite-lived intangible assets 4 — 4 Total Intangible Assets $ 7,625 $ (4,561) $ 3,064 December 31, 2023 Capitalized software $ 5,839 $ (3,900) $ 1,939 Licenses 30 (7) 23 Franchise rights 291 (49) 242 Customer relationships 1,115 (516) 599 Trade name 172 (30) 142 Trademarks, patents and other 320 (53) 267 Amortizable intangible assets $ 7,767 $ (4,555) $ 3,212 Indefinite-lived intangible assets 93 — 93 Total Intangible Assets $ 7,860 $ (4,555) $ 3,305 The table as of December 31, 2024 above excludes intangible assets associated with Coyote, which was divested during the third quarter of 2024 as discussed in note 8. During 2023, we recorded an impairment of $111 million related to the Coyote trade name within Other expenses in our statements of consolidated income. We did not record any impairments of indefinite-lived intangibles during 2024. As of December 31, 2024, we do not have material indefinite-lived intangible assets. All of our other recorded intangible assets are deemed to be finite-lived and are amortized over their estimated useful lives. Impairment tests for these assets are performed when a triggering event occurs that may indicate that the carrying value of the intangible asset may not be recoverable. Additionally, a decision to sell or abandon an intangible asset before the end of its useful life may result in an impairment charge. Impairments of finite-lived intangible assets were $71, $8 and $17 million in 2024, 2023, and 2022, respectively, and were recorded within Other expenses in our statements of consolidated income. For the year ended December 31, 2024, these charges represented trade name and capitalized software license impairments. Amortization of intangible assets was $648, $597 and $525 million in each of 2024, 2023 and 2022, respectively. Expected amortization of finite-lived intangible assets recorded as of December 31, 2024 for the next five years is as follows (in millions): 2025—$633; 2026—$556; 2027—$479; 2028—$398; 2029—$296. Amortization expense in future periods will be affected by business acquisitions and divestitures, software development, licensing agreements, purchases of development areas or similar franchise rights and other factors. As a result of our strategic actions under our Efficiency Reimagined initiatives, we are reviewing our software application infrastructure and expect that, as result of this review, it is reasonably possible that revisions to the useful lives of certain finite-lived intangible assets or early retirements will occur in future periods. See further discussion in note 18.

ACQUISITIONS & DISPOSITIONS

ACQUISITIONS & DISPOSITIONS	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS & DISPOSITIONS	NOTE 8. ACQUISITIONS & DISPOSITIONS During 2024, the aggregate purchase price for acquisitions was $71 million, net of cash acquired, which primarily related to the acquisition of franchise development areas for The UPS Store, which are recorded as intangible assets within Supply Chain Solutions. On September 16, 2024, we completed the divestiture of Coyote, for net proceeds of $1.002 billion. These proceeds are recognized within Proceeds from disposal of businesses, property, plant and equipment in the statements of consolidated cash flows. In connection with the completion of this divestiture, we recorded a pre-tax gain of $156 million ($152 million after tax) for the year ended December 31, 2024. The gain was recognized within Other expenses in the statements of consolidated income. We reported Coyote within our Forwarding businesses in Supply Chain Solutions. The following table summarizes the carrying values of the assets and liabilities divested (in millions): 2024 Assets: Cash and cash equivalents $ 20 Accounts receivable, net 405 Other current assets 34 Operating lease right-of-use assets 69 Goodwill 495 Intangible assets, net 195 Other non-current assets 18 Total assets divested $ 1,236 Liabilities: Accounts payable $ 216 Other current liabilities 54 Non-current operating leases 68 Other non-current liabilities 38 Total liabilities divested $ 376 Net assets divested $ 860 In January 2025, we acquired Frigo-Trans and Biotech & Pharma Logistics, an industry-leading, complex healthcare logistics provider based in Germany, for approximately $440 million. The acquisition is expected to increase our complex cold-chain logistics capabilities internationally. In 2023, we acquired Happy Returns, a technology-focused company that provides innovative end-to-end returns services, and MNX Global Logistics, a global time-critical and temperature-sensitive logistics provider. These businesses are reported within Supply Chain Solutions. During 2023, we also acquired franchise development areas for The UPS Store, which are recorded as intangible assets within Supply Chain Solutions. Other acquisitions completed within International Package and Supply Chain Solutions during the period were immaterial. The aggregate purchase price for acquisitions in 2023 was approximately $1.3 billion, net of cash acquired. Acquisitions were funded using cash from operations. The following table summarizes the final purchase price allocations (in millions): 2023 Cash and cash equivalents $ 18 Accounts receivable 60 Other current assets 8 Property, Plant and Equipment 10 Operating Lease Right-Of-Use Assets 24 Goodwill 739 Intangible Assets (1) 554 Other Non-Current Assets 52 Accounts Payable and other current liabilities (56) Non-Current Operating Leases (19) Deferred Income Tax Liabilities (43) Total purchase price $ 1,347 (1) Includes $64 million for acquisitions of development areas for The UPS Store. Goodwill recognized of approximately $739 million is attributable to expected synergies from future growth. We assigned $735 million of goodwill to Supply Chain Solutions and $4 million to our International Package segment. A portion of the goodwill acquired is deductible for income tax purposes. Intangible assets acquired of approximately $554 million consist of $253 million of customer relationships (amortized over a weighted average of 15 years), $64 million of franchise rights (amortized over 20 years), $165 million of developed technology and software (amortized over a weighted average of 11 years), $45 million of trade names (amortized over a weighted average of 9 years) and $27 million of other intangible assets (amortized over a weighted average of 3 years). The carrying value of accounts receivable approximates fair value. Acquisition-related costs in 2023 were approximately $12 million. These were expensed and included in Other expenses within our statement of consolidated income. In 2022, we acquired Delivery Solutions, a digital platform that optimizes customer deliveries across multiple networks and provides real-time customer tracking and notifications. We also acquired Bomi Group to accelerate our growth in healthcare logistics by expanding our international presence and increasing our cold chain capabilities in major European and Latin American markets. Delivery Solutions and Bomi Group are both reported within Supply Chain Solutions. During 2022, we also acquired development areas for The UPS Store, which are recorded as intangible assets within Supply Chain Solutions. The aggregate purchase price for acquisitions in 2022 was approximately $755 million, net of cash acquired. Acquisitions were funded using cash from operations. The following table summarizes the final purchase price allocations (in millions): 2022 Cash and cash equivalents $ 29 Accounts receivable 86 Other current assets 17 Property, Plant and Equipment 63 Operating Lease Right-Of-Use Assets 111 Goodwill 581 Intangible Assets (1) 381 Accounts Payable and other current liabilities (150) Non-Current Operating Leases (85) Long-Term Debt and Finance Leases (183) Deferred Income Tax Liabilities (66) Total purchase price $ 784 (1) Includes $113 million for acquisitions of development areas for The UPS Store. Goodwill recognized of approximately $581 million, including immaterial measurement period adjustments, was attributable to expected synergies from future growth, including synergies in our International Package segment. We allocated $105 and $476 million of goodwill to reporting units within International Package and Supply Chain Solutions, respectively. Deductible goodwill for income tax purposes was not material. Intangible assets acquired of approximately $381 million consisted of $177 million of customer relationships (amortized over a weighted average of 15 years), $113 million of franchise rights (amortized over 20 years), $70 million of trade names (amortized over a weighted average of 5 years), $14 million of technology (amortized over a weighted average of 6 years) and $7 million in other intangibles (amortized over a weighted average of 5 years). The carrying value of accounts receivable approximated fair value. Acquisition-related costs in 2022 were approximately $25 million. These were expensed and included in Other expenses within the statement of consolidated income.

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	NOTE 9. DEBT AND FINANCING ARRANGEMENTS The carrying value of our outstanding debt obligations, as of December 31, 2024 and 2023 consists of the following (in millions): Principal Carrying Value Amount Maturity 2024 2023 Commercial paper $ — $ — $ 2,172 Fixed Rate senior notes: 2.800% senior notes — 2024 — 499 2.200% senior notes — 2024 — 400 3.900% senior notes 1,000 2025 1,000 999 2.400% senior notes 500 2026 499 499 3.050% senior notes 1,000 2027 997 996 3.400% senior notes 750 2029 748 747 2.500% senior notes 400 2029 398 398 4.450% senior notes 750 2030 746 745 4.875% senior notes 900 2033 895 894 5.150% senior notes 900 2034 894 — 6.200% senior notes 1,500 2038 1,486 1,485 5.200% senior notes 500 2040 495 494 4.875% senior notes 500 2040 492 491 3.625% senior notes 375 2042 369 369 3.400% senior notes 500 2046 492 492 3.750% senior notes 1,150 2047 1,138 1,138 4.250% senior notes 750 2049 743 743 3.400% senior notes 700 2049 689 689 5.300% senior notes 1,250 2050 1,232 1,232 5.050% senior notes 1,100 2053 1,083 1,083 5.500% senior notes 1,100 2054 1,087 — 5.600% senior notes 600 2064 590 — Floating rate senior notes: Floating-rate senior notes 1,775 2049-2074 1,755 1,545 Debentures: 7.620% debentures 276 2030 279 280 Pound Sterling notes: 5.500% notes 84 2031 83 84 5.125% notes 572 2050 544 550 Euro Senior Notes: 1.625% notes 732 2025 731 774 1.000% notes 523 2028 521 551 1.500% notes 523 2032 521 551 Canadian Senior Notes: 2.125% notes — 2024 — 566 Finance lease obligations (see Note 11) 455 2025-2118 455 472 Facility notes and bonds 320 2029-2045 320 320 Other debt 2 2025-2026 2 6 Total debt $ 21,487 $ 21,284 $ 22,264 Less: current maturities (1,838) (3,348) Long-term debt $ 19,446 $ 18,916 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. There was no commercial paper outstanding as of December 31, 2024. The amount of commercial paper outstanding under these programs in 2025 is expected to fluctuate. Debt Classification We have classified certain floating-rate senior notes that are redeemable at the option of the note holder as long-term debt in our consolidated balance sheets, due to our intent and ability to refinance the debt if the put option is exercised. Debt Repayments On May 21, 2024, our 2.125% Canadian Dollar senior notes with a principal balance of C$750 million ($550 million) matured and were repaid in full. On September 3, 2024, our 2.200% senior notes with a principal balance of $400 million matured and were repaid in full. On November 11, 2024, our 2.800% senior notes with a principal balance of $500 million matured and were repaid in full. Debt Issuances On May 22, 2024 we issued three series of notes in the principal amounts of $900 million, $1.1 billion and $600 million. These notes bear interest at 5.150%, 5.500% and 5.600%, respectively, and mature on May 22, 2034, May 22, 2054 and May 22, 2064, respectively. Interest on the notes is payable semi-annually. Each series of notes is callable at our option at a redemption price equal to the greater of 100% of the principal amount, or the sum of the present values of scheduled payments of principal and interest, plus accrued and unpaid interest. On May 28, 2024 we issued floating rate senior notes with a principal balance of $213 million. These notes bear interest at a rate equal to the compounded Secured Overnight Financing Rate ("SOFR") less 0.350% per year and mature on June 1, 2074. Interest on the notes is payable quarterly. These notes are callable at various times after 30 years at a stated percentage of par value and are redeemable at the option of the note holders at various times after one year at a stated percentage of par value. Fixed-Rate Senior Notes Our fixed-rate notes pay interest semi-annually and allow for redemption by us at any time by paying the greater of the principal amount or a "make-whole" amount, plus accrued interest. Reference Rate Reform Our floating-rate senior notes that mature between 2049 and 2067 initially bore interest at rates that referenced the London Interbank Offer Rate ("LIBOR") for U.S. Dollars. As part of a broader program of reference rate reform, U.S. Dollar LIBOR rates ceased to be published after June 2023. Beginning July 1, 2023, we transitioned these notes to an alternative reference rate, SOFR, which was adopted in accordance with recommendations of the Alternative Reference Rates Committee . Floating-Rate Senior Notes We had floating-rate senior notes in the principal amount of $500 million that matured in 2023. These notes bore interest at three-month LIBOR plus a spread of 45 basis points. The average interest rate on these notes for 2023 was 5.32%. Our outstanding floating-rate senior notes with principal amounts totaling $1.8 billion bear interest at either thirty-day, ninety-day or compounded SOFR, less a spread ranging from 4 to 35 basis points. These notes have maturities ranging from 2049 through 2074. Interest is payable monthly for notes maturing through 2053 and quarterly for notes maturing from 2064 through 2074. The average interest rate on the outstanding floating-rate senior notes for 2024 and 2023 was 4.77% and 4.75%, respectively. These notes are callable at various times after 30 years at a stated percentage of par value, and redeemable at the option of the note holders at various times after one year at a stated percentage of par value. We have classified these floating-rate senior notes as long-term liabilities in our consolidated balance sheets, due to our intent and ability to refinance the debt if the put option is exercised. 7.620% Debentures The $276 million debentures have a maturity of April 1, 2030. These debentures are redeemable in whole or in part at any time at our option. The redemption price is equal to the greater of the principal amount plus accrued interest, or the present value of remaining scheduled payments of principal and interest thereon discounted to the date of redemption at a benchmark treasury yield plus five basis points, plus accrued interest. Interest is payable semi-annually in April and October, and the debentures are not subject to sinking fund requirements. Pound Sterling Notes The Pound Sterling notes consist of two separate tranches, as follows: • Notes with a principal amount of £66 million accrue interest at a fixed rate of 5.50% and are due in February 2031. Interest is payable semi-annually and these notes are not callable. • Notes with a principal amount of £455 million accrue interest at a fixed rate of 5.125% and are due in February 2050. Interest is payable semi-annually. These notes are callable at our option at a redemption price equal to the greater of the principal amount plus accrued interest, or the present value of the remaining scheduled payments of principal and interest thereon discounted to the date of redemption at a benchmark U.K. government bond yield plus 15 basis points, plus accrued interest. Euro Senior Notes The Euro notes consist of three separate issuances, as follows: • Notes with a principal amount of €700 million accrue interest at a fixed rate of 1.625% and are due in November 2025. Interest is payable annually. These notes are callable at our option at a redemption price equal to the greater of the principal amount, or the present value of the remaining scheduled payments of principal and interest thereon discounted to the date of redemption at a benchmark German government bond yield plus 20 basis points, plus accrued interest. • Notes with a principal amount of €500 million accrue interest at a fixed rate of 1.00% and are due in November 2028. Interest is payable annually. These notes are callable at our option at a redemption price equal to the greater of the principal amount, or the present value of the remaining scheduled payments of principal and interest thereon discounted to the date of redemption at a benchmark comparable German government bond yield plus 15 basis points, plus accrued interest. • Notes with a principal amount of €500 million accrue interest at a fixed rate of 1.50% and are due in November 2032. Interest is payable annually. The notes are callable at our option at a redemption price equal to the greater of the principal amount, or the present value of the remaining scheduled payments of principal and interest thereon discounted to the date of redemption at a benchmark comparable government bond yield plus 20 basis points, plus accrued interest. Finance Lease Obligations We have certain property, plant and equipment subject to finance leases. For additional information on finance lease obligations, see note 11. Facility Notes and Bonds We have entered into agreements with certain municipalities or related entities to finance the construction of, or improvements to, facilities that support our operations in the United States. These facilities are located around airport properties in Louisville, Kentucky; Dallas, Texas; and Philadelphia, Pennsylvania. Under these arrangements, we enter into a lease or loan agreement that covers the debt service obligations on the bonds issued by these entities, as follows: • Bonds with a principal balance of $149 million issued by the Louisville Regional Airport Authority associated with our Worldport facility in Louisville, Kentucky. The bonds are due in January 2029 and bear interest at a variable rate that is payable monthly. The average interest rates for 2024 and 2023 were 3.28% and 3.31%, respectively. • Bonds with a principal balance of $42 million issued by the Louisville Regional Airport Authority associated with our airfreight facility in Louisville, Kentucky. The bonds are due in November 2036 and bear interest at a variable rate that is payable monthly. The average interest rates for 2024 and 2023 were 3.21% and 3.29%, respectively. • Bonds with a principal balance of $29 million issued by the Dallas/Fort Worth International Airport Facility Improvement Corporation associated with our Dallas, Texas airport facilities. The bonds are due in May 2032 and bear interest at a variable rate that is payable quarterly. The average interest rates for 2024 and 2023 were 3.26% and 4.42%, respectively. • Bonds with a principal balance of $100 million issued by the Delaware County, Pennsylvania Industrial Development Authority associated with our Philadelphia, Pennsylvania airport facilities. These bonds are due in September 2045 and bear interest at a variable rate that is payable monthly. The average interest rates for 2024 and 2023 were 3.18% and 3.26%, respectively. Contractual Commitments The following table sets forth the aggregate annual principal payments on our long-term debt and our projected aggregate annual purchase commitments (in millions): Year Debt Principal Purchase Commitments (1) 2025 $ 1,732 $ 2,925 2026 500 2,462 2027 1,000 701 2028 523 111 2029 1,150 7 After 2029 16,125 — Total $ 21,030 $ 6,206 (1) Purchase commitments include estimates of future amounts yet to be recognized in our financial statements. In addition to the purchase commitments presented above, during the first quarter of 2025 we entered into an accelerated share repurchase agreement for $1.0 billion worth of shares to be completed during the first quarter of 2025 and an agreement to purchase certain services totaling approximately $400 million to be paid over 10 years, beginning in 2025. Purchase commitments entered into after December 31, 2024 are not reflected in the table above. Purchase commitments represent contractual agreements for certain capital expenditures and pending acquisitions, that are legally binding, including contracts for aircraft, vehicles and facility construction projects. We are evaluating available financing alternatives with respect to our aircraft purchase commitments. Sources of Credit Letters of Credit As of December 31, 2024, we had outstanding letters of credit totaling approximately $1.7 billion issued in connection with our self-insurance reserves and other routine business requirements. We also issue surety bonds as an alternative to letters of credit in certain instances and, as of December 31, 2024, we had $1.8 billion of surety bonds written. Revolving Credit Facilities 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 November 24, 2025. Amounts outstanding under this agreement 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 December 31, 2024 was 0.70%. 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 November 25, 2029. 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 December 31, 2024 was 0.70%. Alternatively, a fluctuating rate of interest equal to the highest of (1) the rate of interest last quoted by The Wall Street Journal as the prime rate in the United States; (2) the Federal Funds effective rate plus 0.50%; and (3) 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 & Poor's 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 our revolving credit facilities as of December 31, 2024. Debt Covenants Our existing debt instruments and credit facilities subject us to certain financial covenants. As of December 31, 2024 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 December 31, 2024, 10% of net tangible assets is equivalent to $4.6 billion; however, we have no covered sale-leaseback transactions or secured indebtedness outstanding. We do not expect these covenants to have a material impact on our financial condition or liquidity. Fair Value of Debt Based on the borrowing rates currently available to us for long-term debt with similar terms and maturities, the fair value of long-term debt, including current maturities, was approximately $20.3 and $22.1 billion as of December 31, 2024 and 2023, 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.

LEGAL PROCEEDINGS AND CONTINGEN

LEGAL PROCEEDINGS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS AND CONTINGENCIES	NOTE 10. 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 pending matters, including (except as may be otherwise noted herein) the matters described below, and we intend to vigorously defend each matter. We accrue amounts associated with judicial proceedings and other contingencies 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. We do not believe that any loss associated with any such matter will have a material impact on our financial condition, results of operations or liquidity. In October 2022, Gratton v. United Parcel Service, Inc., was filed in the United States District Court for the Eastern District of Washington. Plaintiff sued UPS for various employment related claims. In the third quarter of 2024, the jury found in favor of the plaintiff only on his retaliation claim, awarding him $39.6 million in compensatory damages and $198 million in punitive damages. We have filed post-trial motions appealing the verdict as we believe a number of reversible errors have been committed entitling us to reverse the verdict substantially or in its entirety. In the fourth quarter of 2024, the punitive damage award was vacated in its entirety. In the first quarter of 2025, the court vacated the remainder of the jury’s verdict and granted our motion for a new trial. As of December 31, 2024, we had accrued an immaterial amount in our consolidated balance sheet in connection with this matter. In July 2023, Baker v. United Parcel Service, Inc. (DE) and United Parcel Service, Inc. (OH) was certified as a class action in federal court in the Eastern District of Washington. The plaintiff in this matter alleges that UPS violated the Uniformed Services Employment and Reemployment Rights Act. We are vigorously defending ourselves in this matter and believe that we have a number of meritorious defenses, and there are unresolved questions of law and fact that could be important to the ultimate resolution of this matter. Accordingly, we are not able to estimate a possible loss or range of loss that may result from this matter or to determine whether such loss, if any, would have a material adverse effect on our financial condition, results of operations or liquidity. In October 2024, a securities class action, Savage v. United Parcel Service, Inc. et al, was filed in the United States District Court for the Northern District of Georgia, naming the Company and certain current and former officers as defendants. This matter has been dismissed. Other Matters 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. In March 2018, the CNMC adopted a final decision, finding an infringement and imposing an immaterial fine on UPS. We appealed the decision. In December 2022, a trial court ruled against us. We have filed an appeal before the Spanish Supreme Court. We are vigorously defending ourselves and believe that we have a number of meritorious defenses. There are also unresolved questions of law that could be important to the ultimate resolution of this matter. We do not believe that any loss from this matter would have a material impact on our financial condition, results of operations or liquidity. As previously disclosed, the Securities and Exchange Commission (the "SEC") had investigated our controls and practices surrounding impairment analyses in connection with the divestiture of UPS Freight in April 2021. Such analysis led to a non-cash goodwill impairment charge being recorded during the quarter ended December 31, 2020. In March 2024, the SEC staff informed the Company that it disagreed with the timing of the impairment. The Company reached a negotiated resolution with the SEC, without admitting or denying the SEC’s findings. In connection therewith, the Company agreed to pay a civil penalty, and agreed to remedial actions, training and process changes, many of which have already been implemented. The resolution did not have a material effect on the Company’s financial condition, results of operations or liquidity. We are a party to various other matters that arose in the normal course of business. These include disputes with government authorities in various jurisdictions over the imposition of duties, fines, taxes and assessments from time to time. We are vigorously defending ourselves and believe that we have a number of meritorious defenses in these disputes. There are also unresolved questions of law that could be important to the ultimate resolution of these disputes. Accordingly, we are not able to estimate a possible loss or range of losses that may result from these disputes or to determine whether such losses, if any, would have a material impact on our financial condition, results of operations or liquidity. We do not believe that the eventual resolution of any 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.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
LEASES	NOTE 11. LEASES We have finance and operating leases for real estate (primarily package centers, airport facilities and warehouses), aircraft and engines, information technology equipment, 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. Aircraft In addition to the aircraft that we own, 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. 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. 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. We also enter into equipment leases to increase capacity during periods of high demand. These leases are treated as short-term as the cumulative right of use is less than 12 months over the term of the contract. 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 right of use lease asset and associated lease obligation. The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in millions): 2024 2023 2022 Operating lease costs $ 912 $ 860 $ 736 Finance lease costs: Amortization of assets $ 145 $ 119 $ 112 Interest on lease liabilities 23 18 14 Total finance lease costs 168 137 126 Variable lease costs 311 279 270 Short-term lease costs 1,079 1,166 1,499 Total lease costs (1) $ 2,470 $ 2,442 $ 2,631 (1) This table excludes sublease income for all periods presented as it was not material. 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. We recognized certain immaterial impairments, primarily within Supply Chain Solutions, for the years ended December 31, 2024, 2023 and 2022. Supplemental information related to leases and location within our consolidated balance sheets as of December 31, 2024 and 2023 are as follows (in millions, except lease term and discount rate): 2024 2023 Operating Leases: Operating lease right-of-use assets $ 4,149 $ 4,308 Current maturities of operating leases $ 733 $ 709 Non-current operating leases 3,635 3,756 Total operating lease obligations $ 4,368 $ 4,465 Finance Leases: Property, plant and equipment, net $ 657 $ 856 Current maturities of long-term debt, commercial paper and finance leases $ 104 $ 104 Long-term debt and finance leases 351 368 Total finance lease obligations $ 455 $ 472 Weighted average remaining lease term (in years): Operating leases 10.4 10.8 Finance leases 11.1 7.4 Weighted average discount rate: Operating leases 3.50 % 3.20 % Finance leases 3.84 % 3.88 % Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 is as follows (in millions): 2024 2023 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 877 $ 835 Operating cash flows from finance leases 20 17 Financing cash flows from finance leases 136 126 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 740 $ 1,278 Finance leases 120 209 Future payments for lease obligations as of December 31, 2024 are as follows (in millions): Finance Leases Operating Leases 2025 $ 115 $ 847 2026 87 765 2027 55 659 2028 47 504 2029 38 388 Thereafter 207 2,049 Total lease payments 549 5,212 Less: Imputed interest (94) (844) Total lease obligations 455 4,368 Less: Current obligations (104) (733) Long-term lease obligations $ 351 $ 3,635 As of December 31, 2024, we had additional leases which have not commenced of $561 million. These leases will commence between 2025 and 2026 when we are granted access to the property, such as when we are able to begin constructing leasehold improvements or obtain a certificate of occupancy.
LEASES	NOTE 11. LEASES We have finance and operating leases for real estate (primarily package centers, airport facilities and warehouses), aircraft and engines, information technology equipment, 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. Aircraft In addition to the aircraft that we own, 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. 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. 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. We also enter into equipment leases to increase capacity during periods of high demand. These leases are treated as short-term as the cumulative right of use is less than 12 months over the term of the contract. 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 right of use lease asset and associated lease obligation. The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in millions): 2024 2023 2022 Operating lease costs $ 912 $ 860 $ 736 Finance lease costs: Amortization of assets $ 145 $ 119 $ 112 Interest on lease liabilities 23 18 14 Total finance lease costs 168 137 126 Variable lease costs 311 279 270 Short-term lease costs 1,079 1,166 1,499 Total lease costs (1) $ 2,470 $ 2,442 $ 2,631 (1) This table excludes sublease income for all periods presented as it was not material. 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. We recognized certain immaterial impairments, primarily within Supply Chain Solutions, for the years ended December 31, 2024, 2023 and 2022. Supplemental information related to leases and location within our consolidated balance sheets as of December 31, 2024 and 2023 are as follows (in millions, except lease term and discount rate): 2024 2023 Operating Leases: Operating lease right-of-use assets $ 4,149 $ 4,308 Current maturities of operating leases $ 733 $ 709 Non-current operating leases 3,635 3,756 Total operating lease obligations $ 4,368 $ 4,465 Finance Leases: Property, plant and equipment, net $ 657 $ 856 Current maturities of long-term debt, commercial paper and finance leases $ 104 $ 104 Long-term debt and finance leases 351 368 Total finance lease obligations $ 455 $ 472 Weighted average remaining lease term (in years): Operating leases 10.4 10.8 Finance leases 11.1 7.4 Weighted average discount rate: Operating leases 3.50 % 3.20 % Finance leases 3.84 % 3.88 % Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 is as follows (in millions): 2024 2023 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 877 $ 835 Operating cash flows from finance leases 20 17 Financing cash flows from finance leases 136 126 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 740 $ 1,278 Finance leases 120 209 Future payments for lease obligations as of December 31, 2024 are as follows (in millions): Finance Leases Operating Leases 2025 $ 115 $ 847 2026 87 765 2027 55 659 2028 47 504 2029 38 388 Thereafter 207 2,049 Total lease payments 549 5,212 Less: Imputed interest (94) (844) Total lease obligations 455 4,368 Less: Current obligations (104) (733) Long-term lease obligations $ 351 $ 3,635 As of December 31, 2024, we had additional leases which have not commenced of $561 million. These leases will commence between 2025 and 2026 when we are granted access to the property, such as when we are able to begin constructing leasehold improvements or obtain a certificate of occupancy.

SHAREOWNERS' EQUITY

SHAREOWNERS' EQUITY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
SHAREOWNERS' EQUITY	NOTE 12. 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 New York Stock Exchange ("NYSE") under the symbol "UPS". Class A and B shares both have a $0.01 par value, and as of December 31, 2024, 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 December 31, 2024, 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 years ended December 31, 2024, 2023 and 2022 (in millions, except per share amounts): 2024 2023 2022 Shares Dollars Shares Dollars Shares Dollars Class A Common Stock: Balance at beginning of year 127 $ 2 134 $ 2 138 $ 2 Stock award plans 2 — 5 — 5 — Common stock issuances 3 — 2 — 3 — Conversions of class A to class B common stock (11) — (14) — (12) — Class A shares issued at end of year 121 $ 2 127 $ 2 134 $ 2 Class B Common Stock: Balance at beginning of year 726 $ 7 725 $ 7 732 $ 7 Common stock purchases (4) — (13) — (19) — Conversions of class A to class B common stock 11 — 14 — 12 — Class B shares issued at end of year 733 $ 7 726 $ 7 725 $ 7 Additional Paid-In Capital: Balance at beginning of year $ — $ — $ 1,343 Stock award plans (77) 425 624 Common stock purchases (212) (882) (2,462) Common stock issuances 425 467 495 Other (1) — (10) — Balance at end of year $ 136 $ — $ — Retained Earnings: Balance at beginning of year $ 21,055 $ 21,326 $ 16,179 Net income attributable to controlling interests 5,782 6,708 11,548 Dividends ($6.52, $6.48 and $6.08 per share) (2) (5,594) (5,611) (5,363) Common stock purchases (288) (1,368) (1,038) Other (3) (73) — — Balance at end of year $ 20,882 $ 21,055 $ 21,326 Non-Controlling Interests: Balance at beginning of year $ 8 $ 17 $ 16 Change in non-controlling interests 17 (9) 1 Balance at end of year $ 25 $ 8 $ 17 (1) Includes a 1% excise tax applicable to share repurchases. (2) The dividend per share amount is the same for both class A and class B common stock. Dividends include $195, $239 and $249 million for 2024, 2023 and 2022, respectively, that were settled in shares of class A common stock. (3) Includes adjustments related to certain stock-based awards. We repurchased 3.9, 12.8 and 19.0 million shares of class B common stock for $500 million, $2.3 billion and $3.5 billion during the years ended December 31, 2024, 2023 and 2022, respectively. These repurchases were completed as follows: • In August 2021, the Board of Directors authorized the company to repurchase up to $5.0 billion of class A and class B common stock (the "2021 Authorization"). The share repurchases discussed above for the year ended December 31, 2022 were completed under this authorization. For the year ended December 31, 2023, we repurchased 0.5 million shares of class B common stock for $82 million under this authorization. • In January 2023, the Board of Directors terminated the 2021 Authorization and approved a new share repurchase authorization for $5.0 billion of class A and class B common stock (the "2023 Authorization"). The share repurchases discussed above for the year ended December 31, 2024 were completed under the 2023 Authorization. For the year ended December 31, 2023, we repurchased 12.3 million shares for $2.2 billion under the 2023 Authorization. As of December 31, 2024, we had $2.3 billion available under this repurchase authorization. In February 2025, we entered into an accelerated share repurchase agreement for $1.0 billion worth of shares. This agreement is expected to settle in the first quarter of 2025. We do not anticipate further share repurchases in 2025. Future 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 (loss) for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): 2024 2023 2022 Foreign Currency Translation Gain (Loss), Net of Tax: Balance at beginning of year $ (1,248) $ (1,446) $ (1,162) Translation adjustment (net of tax effect of $(7), $(15) and $(17)) (338) 190 (315) Reclassification to earnings (net of tax effect of $0, $0 and $2) — 8 31 Balance at end of year $ (1,586) $ (1,248) $ (1,446) Unrealized Gain (Loss) on Marketable Securities, Net of Tax: Balance at beginning of year $ (2) $ (11) $ (1) Current period changes in fair value (net of tax effect of $0, $2 and $(3)) 1 7 (12) Reclassification to earnings (net of tax effect of $0, $1 and $1) — 2 2 Balance at end of year $ (1) $ (2) $ (11) Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax: Balance at beginning of year $ (76) $ 167 $ (17) Current period changes in fair value (net of tax effect of $93, $(28) and $128) 296 (89) 407 Reclassification to earnings (net of tax effect of $(41), $(48) and $(70)) (129) (154) (223) Balance at end of year $ 91 $ (76) $ 167 Unrecognized Pension and Postretirement Benefit Costs, Net of Tax: Balance at beginning of year $ (2,432) $ (259) $ (2,098) Net actuarial gain (loss) and prior service cost resulting from remeasurements of plan assets and liabilities (net of tax effect of $(315), $(793) and $810) (1,005) (2,530) 2,576 Reclassification to earnings (net of tax effect of $195, $111 and $(230)) 624 357 (737) Balance at end of year $ (2,813) $ (2,432) $ (259) Accumulated other comprehensive income (loss) at end of year $ (4,309) $ (3,758) $ (1,549) Detail of the gains (losses) reclassified from accumulated other comprehensive income (loss) to the statements of consolidated income for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement 2024 2023 2022 Unrealized Gain (Loss) on Foreign Currency Translation: Realized gain (loss) on business wind-down $ — $ (8) $ (33) Other expenses Income tax (expense) benefit — — 2 Income tax expense Impact on net income $ — $ (8) $ (31) Net income Unrealized Gain (Loss) on Marketable Securities: Realized gain (loss) on sale of securities $ — $ (3) $ (3) Investment income (expense) and other Income tax (expense) benefit — 1 1 Income tax expense Impact on net income $ — $ (2) $ (2) Net income Unrealized Gain (Loss) on Cash Flow Hedges: Interest rate contracts $ (5) $ (10) $ (10) Interest expense Foreign currency exchange contracts 176 213 304 Revenue Foreign currency exchange contracts (1) (1) (1) Investment income (expense) and other Income tax (expense) benefit (41) (48) (70) Income tax expense Impact on net income $ 129 $ 154 $ 223 Net income Unrecognized Pension and Postretirement Benefit Costs: Prior service costs $ (154) $ (109) $ (94) Investment income (expense) and other Remeasurement of benefit obligation (665) (351) 1,027 Investment income (expense) and other Curtailments and settlements of benefit obligations — (8) 34 Investment income (expense) and other Income tax (expense) benefit 195 111 (230) Income tax expense Impact on net income $ (624) $ (357) $ 737 Net income Total amount reclassified for the year $ (495) $ (213) $ 927 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 a deferred compensation obligation within Shareowners’ Equity in our 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. Activity in the deferred compensation program for the years ended December 31, 2024, 2023 and 2022 was as follows (in millions): 2024 2023 2022 Shares Dollars Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of year $ 9 $ 13 $ 16 Reinvested dividends 1 — 2 Benefit payments (3) (4) (5) Balance at end of year $ 7 $ 9 $ 13 Treasury Stock: Balance at beginning of year — $ (9) — $ (13) — $ (16) Reinvested dividends — (1) — — — (2) Benefit payments — 3 — 4 — 5 Balance at end of year — $ (7) — $ (9) — $ (13)

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
STOCK-BASED COMPENSATION	NOTE 13. STOCK-BASED COMPENSATION In 2021, our shareholders approved our 2021 Omnibus Incentive Compensation Plan (the "Plan") under which we are authorized to issue 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") underlying 25 million shares. Each award issued in the form of Restricted Units, stock options and other permitted awards reduces the share reserve by one share. We had 9 million shares available to be issued under the Plan as of December 31, 2024. Our primary equity compensation programs are the UPS Long-Term Incentive Performance Award program (the "LTIP") and the UPS Stock Option program. We also grant Restricted Units to our Board of Directors (the "Board") as a component of their annual compensation and, from time to time, to individual employees as a retention mechanism. The awards issued under these programs are considered to be equity classified. The total expense recognized in our statements of consolidated income for these stock compensation programs during 2024, 2023 and 2022 was $24 million, $220 million and $1.6 billion, respectively. The associated income tax benefit (expense) recognized in our statements of consolidated income during 2024, 2023 and 2022 was $(18), $42 and $451 million, respectively. The cash income tax benefit received from the exercise of stock options and conversion of Restricted Units to class A shares during 2024, 2023 and 2022 was $110, $201 and $352 million, respectively. We maintain the UPS Management Incentive Award Program (the "MIP") for certain management employees. Employees may elect to receive cash or unrestricted shares of class A common stock under the MIP. Substantially all MIP awards are settled in cash, based on participant elections. We also maintain an employee stock purchase plan which allows eligible employees to purchase shares of UPS class A common stock at a discount. Management Incentive Award Program Non-executive management eligibility under the MIP is determined annually by the executive officers of UPS. Executive officer eligibility is determined annually by the Compensation and Human Capital Committee of the Board (the "Compensation Committee"). The MIP is an incentive-based compensation program, with awards based on annual Company performance. Beginning 2023, MIP awards are paid in cash, unless a participant elects to receive all or a portion of the award in unrestricted shares of class A common stock. As of December 31, 2024, the MIP was classified as a compensation obligation within Accrued wages and withholdings in our consolidated balance sheets. Prior to 2023, MIP awards were generally paid in one-half to two-thirds RPUs, depending upon the recipient's level of seniority. The remainder of the award was electable in the form of cash or unrestricted shares of class A common stock, and was fully vested at the time of grant. Upon conversion, RPUs resulted in the issuance of an equivalent number of shares of class A common stock after required tax withholdings. During 2022, the Compensation Committee amended and restated the terms and conditions governing 2022 MIP RPUs to provide that such awards would fully vest as of December 31, 2022. The elimination of a future service requirement for this award resulted in the recognition of an additional $505 million of stock compensation expense in 2022, of which approximately $431 million was recorded in U.S. Domestic Package. In 2023, the Compensation Committee approved the 2022 MIP awards and the compensation obligation was relieved. The RPUs granted were recorded as additional paid-in capital on the measurement date. Dividends earned on Restricted Units are reinvested in additional Restricted Units at each dividend payable date until conversion to class A shares occurs. The following table shows the change in non-vested Restricted Units under our equity compensation programs other than the LTIP (defined below) in 2024: Restricted Units Weighted-Average Non-vested as of January 1, 2024 58 $ 176.68 Vested (83) 169.01 Granted 14 147.22 Reinvested dividends 41 N/A Forfeited / Expired (5) 154.27 Non-vested as of December 31, 2024 25 $ 177.76 The fair value of these Restricted Units is the NYSE closing price of class B common stock on the date of grant. The weighted-average grant date fair value of Restricted Units, other than awards granted under the LTIP, which are discussed below, granted during 2024, 2023 and 2022 was $147.22, $185.66 and $223.72, respectively. The total fair value of these RPUs vested was $11 million, $1.1 billion and $923 million in 2024, 2023 and 2022, respectively. As of December 31, 2024, there was $3 million of total unrecognized compensation cost related to non-vested Restricted Units, other than awards granted under the LTIP, which are discussed below. That cost is expected to be recognized over a weighted-average period of two years. Long-Term Incentive Performance Award Program ("LTIP") LTIP RPUs 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 number of RPUs earned is based on achievement of performance targets established on the grant date. LTIP awards have performance targets that are equally weighted between adjusted earnings per share and adjusted cumulative free cash flow. The final number of RPUs earned is then subject to adjustment based on RTSR relative to the Standard & Poor's 500 Index. We determine the grant date fair value of these 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. The weighted-average assumptions used in our Monte Carlo models for each award year were as follows: 2024 2023 2022 Risk-free interest rate 4.43 % 3.89 % 2.35 % Expected volatility 27.02 % 30.23 % 31.92 % Weighted-average fair value of units granted $ 156.73 $ 198.78 $ 227.00 Share payout 101.92 % 107.72 % 107.37 % There is no expected dividend yield as units earn dividend equivalents. The following table shows LTIP RPU activity during the year ended December 31, 2024: RPUs Weighted-Average Non-vested as of January 1, 2024 1,268 $ 210.04 Vested (296) 214.27 Granted 918 156.73 Reinvested dividends 90 N/A Performance adjustments (1) (320) 226.71 Forfeited / Expired (259) 184.89 Non-vested as of December 31, 2024 1,401 $ 174.12 (1) Represents the incremental performance adjustment to RPUs with a performance period ending in 2024, which vested during the year. The fair value of each LTIP RPU is based on the NYSE closing price of class B common stock on the date of grant. The weighted-average grant date fair value of LTIP RPUs granted during 2024, 2023 and 2022 was $156.73, $198.78 and $227.00, respectively. The total fair value of LTIP RPUs vested during 2024, 2023 and 2022 was $23, $111 and $239 million, respectively. As of December 31, 2024, there was $104 million of total unrecognized compensation cost related to non-vested LTIP RPUs. That cost is expected to be recognized over a weighted-average period of one year and ten months. Non-qualified Stock Options Stock options may be granted under the Plan, and must have an exercise price at least equal to the NYSE closing price of UPS class B common stock on the date the option is granted. We grant non-qualified stock options to a limited group of eligible senior management employees annually, in which the value granted is determined as a percentage of salary. Stock option grants 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). Option grants expire 10 years after the date of the grant. Option holders may exercise their options via the payment of cash or class A common stock; new class A shares are issued upon exercise. The following table provides an analysis of activity during 2024 relating to options to purchase shares of class A common stock: Options Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Outstanding at January 1, 2024 1,382 $ 127.91 Exercised (34) 99.69 Granted 153 154.76 Forfeited / Expired (49) N/A Outstanding as of December 31, 2024 1,452 $ 130.08 5.08 $ 19 Options Vested and Expected to Vest 1,452 $ 130.08 5.08 $ 19 Exercisable as of December 31, 2024 1,128 $ 119.92 4.26 $ 18 The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used by year, and the calculated weighted-average fair values of options, are as follows: 2024 2023 2022 Expected dividend yield 3.96 % 3.54 % 2.35 % Risk-free interest rate 4.25 % 3.70 % 2.39 % Expected life in years 6.13 5.93 7.50 Expected volatility 28.94 % 28.31 % 25.04 % Weighted-average fair value of options granted $ 34.76 $ 41.08 $ 48.45 The expected dividend yield is based on recent historical dividend yields for our stock, taking into account changes in dividend policy. The risk-free interest rate is based on the term structure of interest rates at the time of the option grant. The expected life represents an estimate of the period of time options are expected to remain outstanding. In determining this, we have relied upon a combination of the observed exercise behavior of our prior grants with similar characteristics and the contractual term of the grants. Expected volatilities are based on the historical returns on our stock and the implied volatility of our publicly-traded options. We received cash of $3, $20 and $14 million during 2024, 2023 and 2022, respectively, from option holders resulting from the exercise of stock options. The total intrinsic value of options exercised during 2024, 2023 and 2022 was $2, $15 and $20 million, respectively. As of December 31, 2024, there was $3 million of total unrecognized compensation cost related to non-vested options. That cost is expected to be recognized over a weighted-average period of three years and five months. Discounted Employee Stock Purchase Plan We maintain an employee stock purchase plan for all eligible employees. Under this plan, shares of UPS class A common stock may be purchased at quarterly intervals at 95% of the NYSE closing price of UPS class B common stock on the last day of each quarterly period. Employees purchased 0.8, 0.7 and 0.6 million shares at average prices of $130.14, $162.34 and $180.80 per share, during 2024, 2023 and 2022, respectively. This plan is not considered to be compensatory, and therefore no compensation cost is incurred for the employees’ purchase rights.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2024
Segments, Geographical Areas [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	NOTE 14. SEGMENT AND GEOGRAPHIC 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. U.S. Domestic Package U.S. Domestic Package operations include the time-definite delivery of letters, documents and packages throughout the United States. During the quarter ended December 31, 2024, based on a change in our management reporting structure, we began presenting our U.S. air cargo product within our U.S. Domestic Package segment. This activity was previously reported within Supply Chain Solutions. This change aligns with how our chief operating decision maker reviews operating results to assess performance and allocate resources. Prior periods have been recast to conform to current year presentation with no changes to consolidated results. International Package International Package operations include delivery to more than 200 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or destination outside the United States. Our International Package reporting segment includes the aggregation of our operations in Europe, the Indian sub-continent, Middle East and Africa (together "EMEA"), Canada and Latin America (together "Americas") and Asia. Supply Chain Solutions Supply Chain Solutions includes our Forwarding, Logistics, digital and other businesses. Our Forwarding and Logistics businesses provide services in more than 200 countries and territories worldwide and include international air and ocean freight forwarding, customs brokerage, mail services, healthcare logistics, distribution and post-sales services. Our digital businesses leverage technology to enable a range of on-demand services such as same-day delivery, end-to-end return services and integrated supply chain and high-value shipment insurance solutions. Segment information We consider our Chief Executive Officer to be our chief operating decision maker ("CODM"). The CODM is responsible for setting the Company's strategic direction, managing overall operations, and is the main point of communication between the board of directors and key operational personnel within the organization. The CODM utilizes operating profit as a primary measure of segment performance because it reflects the underlying business performance and provides the CODM with a basis for making resource allocation decisions. Operating profit is defined as income before investment income (expense) and other, interest expense and income tax expense. Operating profit is considered to be a primary measure of segment performance. The CODM regularly reviews segment level expense details which include compensation, benefits and purchased transportation expenses when assessing operating segment performance. Compensation and benefits are separately assessed for Domestic Package whereas these categories are assessed together for International Package. These categories are the primary segment expenses used by the CODM to assesses segment performance. Certain expenses are allocated between the segments using activity-based costing methods. These activity-based costing methods require us to make estimates that impact the amount of each expense category that is attributed to each segment. Changes in these estimates directly impact the amount of expense allocated to each segment, and therefore the operating profit of each reporting segment. Our allocation methodologies are refined periodically, as necessary, to reflect changes in our businesses. As we operate an integrated, global multimodal network, we evaluate many of our capital expenditure decisions at a network level. Accordingly, expenditures on property, plant and equipment by segment are not presented. Segment information for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): Year ended December 31, 2024 U.S. Domestic International Total Revenue $ 60,376 $ 17,960 $ 78,336 Reconciliation of revenue: Other revenues (2) 12,734 Total consolidated $ 91,070 Less: Compensation and benefits 3,783 Compensation 20,839 Benefits 16,862 Purchased transportation 2,466 3,447 Other segment items (1) 15,864 7,539 Segment Operating profit/(loss) $ 4,345 $ 3,191 $ 7,536 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 932 Other pension income (expense) (396) Investment income (expense) and other 236 Interest expense (866) Income Before Income Taxes $ 7,442 Other Segment Disclosures: Segment assets $ 38,657 $ 18,300 $ 56,957 Other assets (2) 9,850 Unallocated assets 3,263 Consolidated Assets $ 70,070 Depreciation and amortization (3) $ 2,470 $ 777 $ 3,247 Other depreciation and amortization (2) 362 Consolidated Depreciation and Amortization $ 3,609 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above. Year ended December 31, 2023 U.S. Domestic International Total Revenue $ 60,205 $ 17,831 $ 78,036 Reconciliation of revenue: Other revenues (2) 12,922 Total consolidated $ 90,958 Less: Compensation and benefits 3,794 Compensation 19,818 Benefits 16,859 Purchased transportation 2,555 3,391 Other segment items (1) 15,817 7,415 Segment Operating profit/(loss) $ 5,156 $ 3,231 $ 8,387 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 754 Other pension income (expense) (95) Investment income (expense) and other 314 Interest expense (787) Income Before Income Taxes $ 8,573 Other Segment Disclosures: Segment assets $ 38,368 $ 17,587 $ 55,955 Other assets (2) 11,245 Unallocated assets 3,657 Consolidated Assets $ 70,857 Depreciation and amortization (3) $ 2,290 $ 742 $ 3,032 Other depreciation and amortization (2) 334 Consolidated Depreciation and Amortization $ 3,366 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above. Year ended December 31, 2022 U.S. Domestic International Total Revenue $ 64,611 $ 19,698 $ 84,309 Reconciliation of revenue: Other revenues (2) 16,029 Total consolidated $ 100,338 Less: Compensation and benefits 3,890 Compensation 20,488 Benefits 16,603 Purchased transportation 3,333 3,773 Other segment items (1) 17,036 7,709 Segment Operating profit/(loss) $ 7,151 $ 4,326 $ 11,477 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 1,617 Other pension income (expense) 2,251 Investment income (expense) and other 184 Interest expense (704) Income Before Income Taxes $ 14,825 Other Segment Disclosures: Segment assets $ 38,303 $ 17,670 $ 55,973 Other assets (2) 10,407 Unallocated assets 4,744 Consolidated Assets $ 71,124 Depreciation and amortization (3) $ 2,173 $ 761 $ 2,934 Other depreciation and amortization (2) 254 Consolidated Depreciation and Amortization $ 3,188 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above. Revenue by product type for the years ended 2024, 2023 and 2022 is provided in note 2, Revenue Recognition. Geographic information for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): 2024 2023 2022 United States: Revenue $ 70,389 $ 71,749 $ 78,110 Long-lived assets $ 33,173 $ 33,301 $ 32,002 International: Revenue $ 20,681 $ 19,209 $ 22,228 Long-lived assets $ 13,304 $ 13,687 $ 12,991 Consolidated: Revenue $ 91,070 $ 90,958 $ 100,338 Long-lived assets $ 46,477 $ 46,988 $ 44,993 Long-lived assets include property, plant and equipment, pension and postretirement benefit assets, long-term investments, goodwill and intangible assets. No countries outside of the United States accounted for 10% or more of consolidated revenue for the years ended December 31, 2024, 2023 or 2022. For the years ended December 31, 2024, 2023 and 2022, Amazon.com, Inc. and its affiliates ("Amazon") represented 11.8%, 11.8%, and 11.3% of our consolidated revenues, respectively. Substantially all of this revenue was attributed to U.S. Domestic Package. Amazon accounted for approximately 12.8%, 15.8%, and 15.5% of Accounts receivable, net , included within our consolidated balance sheets as of December 31, 2024, 2023 and 2022, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15. INCOME TAXES The income tax expense (benefit) for the years ended December 31, 2024, 2023 and 2022 consists of the following (in millions): 2024 2023 2022 Current: U.S. Federal $ 1,093 $ 1,012 $ 2,006 U.S. State and Local 172 195 273 Non-U.S. 410 459 467 Total Current 1,675 1,666 2,746 Deferred: U.S. Federal 38 150 296 U.S. State and Local (30) 20 136 Non-U.S. (23) 29 99 Total Deferred (15) 199 531 Total Income Tax Expense $ 1,660 $ 1,865 $ 3,277 Income before income taxes includes the following components (in millions): 2024 2023 2022 United States $ 5,839 $ 6,246 $ 12,276 Non-U.S. 1,603 2,327 2,549 Total Income Before Income Taxes $ 7,442 $ 8,573 $ 14,825 A reconciliation of the statutory federal income tax rate to the effective income tax rate for the years ended 2024, 2023 and 2022 consists of the following: 2024 2023 2022 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % U.S. state and local income taxes (net of federal benefit) 1.8 1.9 2.0 Non-U.S. tax rate differential — (0.6) 0.1 FDII and GILTI, net (1) (1.2) (0.9) (0.7) U.S. federal tax credits (0.8) (0.7) (0.5) Goodwill and other asset impairments — 0.1 — Net uncertain tax positions 0.2 (0.5) 0.4 Other 1.3 1.5 (0.2) Effective income tax rate 22.3 % 21.8 % 22.1 % (1) Foreign-Derived Intangible Income ("FDII") and Global Intangible Low-Taxed Income ("GILTI") Our effective tax rate is affected by recurring factors, such as statutory tax rates in the jurisdictions in which we operate and the relative amounts of taxable income we earn in those jurisdictions. It is also affected by discrete items that may occur in any given year, but may not be consistent from year to year. Our effective tax rate was 22.3% in 2024, compared with 21.8% and 22.1% in 2023 and 2022, respectively, primarily due to the effects of the aforementioned recurring factors and the following discrete tax items. 2024 Discrete Items We recognized an income tax benefit of $159 million related to pre-tax defined benefit pension and postretirement medical plan losses of $665 million. This income tax benefit was generated at a higher average tax rate than the 2024 U.S. federal statutory tax rate because it included the effect of U.S. state and local and foreign taxes. We recorded pre-tax transformation strategy costs of $322 million. As a result, we recorded an additional income tax benefit of $77 million. This income tax benefit was generated at a higher average tax rate than the 2024 U.S. federal statutory tax rate due to the effect of U.S. state and local and foreign taxes. We recorded asset impairment charges of $108 million. As a result, we recorded an additional income tax benefit of $27 million. This income tax benefit was generated at a higher average tax rate than the 2024 U.S. federal statutory tax rate due to the effect of U.S. state and local and foreign taxes. We recorded a pre-tax expense of $19 million in connection with a multi-employer pension plan withdrawal. As a result, we recorded an income tax benefit of $5 million. This income tax benefit was generated at a higher average tax rate than the 2024 U.S. federal statutory tax rate due to the effect of U.S. state and local taxes. We recorded a pre-tax gain of $156 million related to the divestiture of Coyote. As a result, we recorded additional income tax expense of $4 million. This income tax expense was generated at a lower average tax rate than the 2024 U.S. federal statutory tax rate due to the disposition generating capital losses for tax purposes that were not expected to be realized. As we discussed in note 10, we paid $45 million in connection with the settlement of a regulatory matter with the SEC. We did not record any additional income tax benefit related to these expenses, which were not deductible for tax purposes. We recorded pre-tax expense of $94 million in connection with a one-time payment for an international regulatory matter. We did not record any additional income tax benefit related to these expenses which are not deductible for tax purposes. The recognition of excess tax benefits and deficiencies related to share-based compensation in income tax expense resulted in a net tax expense of $22 million and increased our effective tax rate by 0.3%. 2023 Discrete Items We recorded pre-tax transformation strategy costs of $435 million. As a result, we recorded an additional income tax benefit of $102 million. This income tax benefit was generated at a higher average tax rate than the 2023 U.S. federal statutory tax rate due to the effect of U.S. state and local and foreign taxes. We recognized an income tax benefit of $85 million related to pre-tax defined benefit pension and postretirement medical benefit plan losses of $359 million. This income tax benefit was generated at a higher average tax rate than the 2023 U.S. federal statutory tax rate because it included the effect of U.S. state and local and foreign taxes. We recorded goodwill and indefinite-lived intangible asset impairment charges of $236 million. As a result, we recorded an additional income tax benefit of $43 million. This income tax benefit was generated at a lower average tax rate than the 2023 U.S. federal statutory tax rate due to certain impairment charges not being deductible for tax purposes. We recorded a pre-tax expense of $61 million in connection with a one-time compensation payment made during the year. As a result, we recorded an additional income tax benefit of $15 million. This income tax benefit was generated at a higher average tax rate than the 2023 U.S. federal statutory tax rate due to the effect of U.S. state and local and foreign taxes. The recognition of excess tax benefits and deficiencies related to share-based compensation in income tax expense did not impact our effective tax rate for the year ended December 31, 2023. 2022 Discrete Items We recognized an income tax expense of $255 million related to pre-tax defined benefit pension and postretirement medical plan gains of $1.1 billion. This income tax expense was generated at a higher average tax rate than the 2022 U.S. federal statutory tax rate because it included the effect of U.S. state and local and foreign taxes. We recorded pre-tax transformation strategy costs of $178 million. As a result, we recorded an additional income tax benefit of $36 million. This income tax benefit was generated at a lower average tax rate than the 2022 U.S. federal statutory tax rate due to the effect of foreign taxes. We recorded pre-tax expenses of $505 million in connection with incentive compensation program design changes. As a result, we recorded an additional income tax benefit of $121 million. This income tax benefit was generated at a higher average tax rate than the 2022 U.S. federal statutory tax rate due to the effect of U.S. state and local and foreign taxes. We recorded pre-tax expenses of $76 million as a result of a reduction in estimated residual value for certain aircraft. As a result, we recorded an additional income tax benefit of $18 million. This income tax benefit was generated at a higher average tax rate than the 2022 U.S. federal statutory tax rate due to the effect of U.S. state and local taxes. The recognition of excess tax benefits and deficiencies related to share-based compensation in income tax expense resulted in a net tax benefit of $95 million and reduced our effective tax rate by 0.6% during the year ended December 31, 2022. Other Items Beginning in 2012, we were granted a tax incentive for certain of our non-U.S. operations. In 2022, the tax incentive was renegotiated and extended through December 31, 2026. The tax incentive is conditional upon our meeting specific employment and investment thresholds. We have applied to exit this incentive effective January 1, 2025. The impact of this tax incentive decreased non-U.S. tax expense by $24, $15 and $47 million (increased diluted earnings per share by $0.03, $0.02 and $0.05) for 2024, 2023 and 2022, respectively. Deferred income tax assets and liabilities are comprised of the following as of December 31, 2024 and 2023 (in millions): 2024 2023 Fixed assets and capitalized software $ (5,914) $ (5,974) Operating lease right-of-use assets (943) (1,017) Other (612) (605) Deferred tax liabilities (7,469) (7,596) Pension and postretirement benefits 1,474 1,304 Loss and credit carryforwards 308 232 Insurance reserves 646 626 Accrued employee compensation 352 354 Operating lease liabilities 1,021 1,073 Other 367 480 Deferred tax assets 4,168 4,069 Deferred tax assets valuation allowance (182) (119) Deferred tax asset (net of valuation allowance) 3,986 3,950 Net deferred tax asset (liability) $ (3,483) $ (3,646) Amounts recognized in our consolidated balance sheets: Deferred tax assets $ 112 $ 126 Deferred tax liabilities (3,595) (3,772) Net deferred tax asset (liability) $ (3,483) $ (3,646) The valuation allowance increased by $63 million, decreased by $4 million and increased by $1 million during the years ended December 31, 2024, 2023 and 2022, respectively. We have a U.S. federal capital loss carryforward of $409 million as of December 31, 2024, $133 million of which expires on December 31, 2026, $49 million of which expires on December 31, 2027 and the remainder of which expires on December 31, 2029. Further, we have U.S. state and local operating loss and credit carryforwards as follows (in millions): 2024 2023 U.S. state and local operating loss carryforwards $ 1,043 $ 762 U.S. state and local credit carryforwards $ 47 $ 48 The U.S. state and local operating loss carryforwards and credits will begin to expire on various dates ranging from 2025 to indefinitely. We also have non-U.S. loss carryforwards of $475 million as of December 31, 2024, the majority of which may be carried forward indefinitely. As indicated in the table above, we have established a valuation allowance for certain U.S. federal, state and non-U.S. carryforwards due to the uncertainty resulting from a lack of previous taxable income within the applicable tax jurisdictions and other limitations. Undistributed earnings and profits ("E&P") of our foreign subsidiaries amounted to $4.8 billion as of December 31, 2024. Currently, $310 million of the undistributed E&P of our foreign subsidiaries is considered to be indefinitely reinvested and, accordingly, no deferred income taxes have been provided thereon. Upon distribution of those earnings in the form of dividends or otherwise, we would be subject to U.S. state and local taxes and withholding taxes payable in various jurisdictions. Determination of the amount of unrecognized deferred income tax liability is not practicable because of the complexities associated with its hypothetical calculation. In December 2017, the United States enacted into law the Tax Cuts and Jobs Act (the "Tax Act"), requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries. We elected to pay the tax over eight years based on an installment schedule outlined in the Tax Act. The remaining liability of $62 million is reflected in current and non-current liabilities in our consolidated balance sheets based on the timing of payment. This balance will be paid in 2025 and 2026. Additionally, the Organization for Economic Co-operation and Development ("OECD") has introduced a framework to implement a global minimum corporate tax of 15%, referred to as Pillar Two or the minimum tax directive. Many aspects of the minimum tax directive became effective beginning in 2024, with certain remaining impacts to be effective beginning in 2025. While it is uncertain whether the U.S. will enact legislation to adopt the minimum tax directive, certain countries in which we operate have adopted legislation, and other countries are in the process of introducing legislation, to implement the minimum tax directive. While we do not currently expect the minimum tax directive to have a material impact on our effective tax rate, our analysis is ongoing as the OECD continues to release additional guidance and countries implement legislation. To the extent additional changes take place in the countries in which we operate, it is possible that these legislative changes and efforts may increase uncertainty and have an adverse impact on our effective tax rates or operations. The following table summarizes the activity related to our uncertain tax positions (in millions): Tax Interest Penalties Balance as of January 1, 2022 $ 480 $ 78 $ 2 Additions for tax positions of the current year 56 — — Additions for tax positions of prior years 25 30 2 Reductions for tax positions of prior years for: Changes based on facts and circumstances (9) (1) — Settlements during the period (10) (1) — Lapses of applicable statute of limitations (9) (2) — Balance as of December 31, 2022 533 104 4 Additions for tax positions of the current year 26 — — Additions for tax positions of prior years 147 37 1 Reductions for tax positions of prior years for: Changes based on facts and circumstances (164) (24) (1) Settlements during the period (47) (9) — Lapses of applicable statute of limitations (3) — — Balance as of December 31, 2023 492 108 4 Additions for tax positions of the current year 33 — — Additions for tax positions of prior years 52 33 — Reductions for tax positions of prior years for: Changes based on facts and circumstances (81) (11) (1) Settlements during the period (33) (5) — Lapses of applicable statute of limitations (16) (3) — Balance as of December 31, 2024 $ 447 $ 122 $ 3 The total amount of gross uncertain tax positions as of December 31, 2024, 2023, and 2022 that, if recognized, would affect the effective tax rate was $430, $492, and $533 million, respectively. Our continuing policy is to recognize interest and penalties associated with income tax matters as a component of income tax expense. We file income tax returns in the U.S. federal jurisdiction, most U.S. state and local jurisdictions, and many non-U.S. jurisdictions. We have substantially resolved all U.S. federal income tax matters for tax years prior to 2016.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 16. 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 (in millions, except per share amounts): 2024 2023 2022 Numerator: Net income attributable to common shareowners $ 5,782 $ 6,708 $ 11,548 Denominator: Weighted-average shares 854 855 868 Deferred compensation obligations — — — Vested portion of restricted shares 1 4 3 Denominator for basic earnings per share 855 859 871 Effect of Dilutive Securities: Restricted performance units and contingent shares (1) 1 1 3 Stock options — — 1 Denominator for diluted earnings per share 856 860 875 Basic Earnings Per Share $ 6.76 $ 7.81 $ 13.26 Diluted Earnings Per Share $ 6.75 $ 7.80 $ 13.20 (1) Contingent shares relate to MIP awards that may be settled in cash or Class A common stock at the employees' election - see note 13. Diluted earnings per share for the years ended December 31, 2024, 2023 and 2022 exclude the effect of 0.5, 0.3 and 0.1 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.

DERIVATIVE INSTRUMENTS AND RISK

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT	NOTE 17. 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. Where deemed appropriate, to manage the impact of these exposures on earnings and/or cash flows, we may enter into a variety of derivative financial instruments. 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. We seek to minimize such risk exposures for these instruments by limiting the counterparties to banks and financial institutions that meet established credit guidelines. We may further manage credit risk through the use of bilateral collateral provisions and/or early termination rights utilizing master netting arrangements, whereby cash is exchanged based on the net fair value of derivatives associated with each counterparty when positions exceed certain amounts. During 2024, the terms of these arrangements were revised to include a threshold of $250 million. As of December 31, 2024, we did not hold any cash collateral. As of December 31, 2023, we held cash collateral of $103 million under these agreements. Collateral is included in Cash and cash equivalents in our consolidated balance sheets and is unrestricted. As of December 31, 2024, no collateral was required to be posted with our counterparties. As of December 31, 2023, we were required to post $13 million of collateral with our counterparties. Types of Hedges Commodity Risk Management Currently, the fuel surcharges that we apply in our domestic and international package businesses 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 generally designate and account for these contracts as cash flow hedges of anticipated foreign currency denominated revenue. We may also hedge portions of our anticipated cash settlements of principal and interest on certain foreign currency denominated debt. We generally designate and account for these contracts as cash flow hedges of forecasted foreign currency denominated transactions. We hedge our net investment in certain foreign operations with foreign currency denominated debt instruments. Interest Rate Risk Management We may use a combination of derivative instruments to manage the fixed and floating interest rate mix of our total debt portfolio and related overall cost of borrowing. We generally designate and account for interest rate swaps that convert fixed-rate interest payments into floating-rate interest payments as fair value hedges of the associated debt instruments. We designate 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. We may 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. Outstanding Positions As of December 31, 2024 and 2023, the notional amounts of our outstanding derivative positions were as follows (in millions): 2024 2023 Currency hedges: Euro EUR 3,222 4,408 British Pound Sterling GBP 536 663 Canadian Dollar CAD 1,623 1,550 Hong Kong Dollar HKD 4,160 1,822 Chinese Renminbi CNH 6,065 — As of December 31, 2024 and 2023, we had no outstanding commodity hedge positions. Balance Sheet Recognition The following table indicates the location in our 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 our 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 our consolidated balance sheets had we elected to apply the right of offset as of December 31, 2024 and 2023 (in millions): Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Asset Derivatives Balance Sheet 2024 2023 2024 2023 Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 157 $ 95 $ 152 $ 73 Foreign currency exchange contracts Other non-current assets Level 2 134 63 131 19 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 — — — — Total Asset Derivatives $ 291 $ 158 $ 283 $ 92 Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Liability Derivatives Balance Sheet 2024 2023 2024 2023 Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 5 $ 26 $ — $ 4 Foreign currency exchange contracts Other non-current liabilities Level 2 3 65 — 21 Derivatives not designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 8 $ 92 $ — $ 26 Our foreign currency exchange rate and interest rate 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, foreign currency exchange rates and investment forward prices; therefore, these derivatives are classified as Level 2. Balance Sheet Location of Hedged Item in Fair Value Hedges The following table indicates the amounts that were recorded in our consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of December 31, 2024 and 2023 (in millions): 2024 2023 Line Item in our Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Long-term debt and finance leases $ 279 $ 4 $ 280 $ 4 Income Statement and AOCI Recognition of Designated Hedges 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 years ended December 31, 2024 and 2023 (in millions): 2024 2023 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income (Expense) and Other Revenue Interest Expense Investment Income (Expense) and Other Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (5) — — (10) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 176 — (1) 213 — (1) 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 $ 176 $ (5) $ (1) $ 213 $ (10) $ (1) The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the years ended December 31, 2024 and 2023 for those derivatives designated as cash flow hedges (in millions): Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2024 2023 Interest rate contracts $ — $ (1) Foreign currency exchange contracts 389 (116) Total $ 389 $ (117) As of December 31, 2024, there were $146 million of pre-tax gains related to cash flow hedges deferred in AOCI that are expected to be reclassified to income over the 12-month period ending December 31, 2025. 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 3 years. The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the years ended December 31, 2024 and 2023 for those instruments designated as net investment hedges (in millions): Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2024 2023 Foreign denominated debt $ 127 $ (119) Total $ 127 $ (119) Income Statement Recognition of Non-Designated Derivative Instruments Derivative instruments that are not designated as hedges are recorded at fair value with unrealized gains and losses reported in earnings each period. Cash flows from the settlement of derivative instruments appear in the statement of consolidated cash flows within the same categories as the cash flows of the hedged item. We may periodically terminate interest rate swaps and foreign currency exchange forward contracts or enter into offsetting swap and foreign currency positions with different counterparties. As part of this process, we de-designate our original hedge relationship. Amounts recorded in the statements of consolidated income related to fair value changes and settlements of interest rate swaps and foreign currency forward contracts not designated as hedges for the years ended December 31, 2024 and 2023 (in millions) were as follows: Derivative Instruments Not Designated in Location of Gain Amount of Gain (Loss) Recognized in Income 2024 2023 Foreign currency exchange contracts Investment income (expense) and other $ (1) $ (7) Total $ (1) $ (7)

TRANSFORMATION STRATEGY COSTS

TRANSFORMATION STRATEGY COSTS	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
TRANSFORMATION STRATEGY COSTS	NOTE 18. TRANSFORMATION STRATEGY COSTS As previously disclosed, we are undertaking an enterprise-wide transformation of our organization that includes various projects and initiatives, including workforce reductions and changes in processes and technology, that impact our global direct and indirect operating costs. The table below presents transformation strategy costs for the years ended December 31, 2024, 2023 and 2022 (in millions): 2024 2023 2022 Compensation and benefits $ 213 $ 337 $ 46 Total other expenses 109 98 132 Total Transformation Strategy Costs $ 322 $ 435 $ 178 Income Tax Benefit from Transformation Strategy Costs (77) (102) (36) After-Tax Transformation Strategy Costs $ 245 $ 333 $ 142 Compensation and benefit costs under these programs are primarily related to severance costs incurred in conjunction with reductions in our workforce. We are primarily accounting for these separations under ASC Topic 712 as they have been, or will be, carried out under a plan which provides a contractual termination benefit to impacted employees. The nature of our separation initiatives has resulted in a relatively short period of time, typically less than one year, between the point at which the separation meets the criteria for recognition as an accrual and the point at which the separation is completed. Other expenses incurred in furtherance of our transformation strategy have been primarily related to fees paid to third-party service providers that supported modernization of our corporate support functions, assisted in our strategic reviews and contributed to our financial systems transition and healthcare strategy. The income tax effects of Transformation strategy costs are calculated by multiplying the amount of the adjustments by the statutory tax rates applicable in each tax jurisdiction. Transformation strategy costs during the periods presented related to our Transformation 2.0, Fit to Serve and Network reconfiguration and Efficiency Reimagined programs. Total costs by program are shown in the table below for the years ended December 31, 2024, 2023 and 2022 (in millions): 2024 2023 2022 Transformation Strategy Costs: Transformation 1.0 $ — $ 13 $ 50 Transformation 2.0 Spans and layers — 86 4 Business portfolio review 29 84 80 Financial systems 54 36 33 Other initiatives — 4 11 Transformation 2.0 total 83 210 128 Fit to Serve 204 212 — Network Reconfiguration and Efficiency Reimagined 35 — — Total Transformation Strategy Costs $ 322 $ 435 $ 178 Transformation 1.0: Transformation 1.0 was a fundamental change in the Company’s operating model, moving certain functions from a decentralized operating model supported by disparate technology to a centralized model, leveraging third-party offshore resources to supplement our internal resources. The Company completed Transformation 1.0 in 2023. Transformation 2.0: Based on efficiencies gained as a part of Transformation 1.0, and in connection with changes in our executive leadership in 2020, we identified and reprioritized certain then-current and future investments, including investments in our workforce, portfolio of businesses and technology (such projects, collectively, “Transformation 2.0”). Specifically, we identified opportunities to reduce spans and layers of management, began a review of our business portfolio and identified opportunities to invest in certain technologies, including financial reporting and certain schedule, time and pay systems, to reduce global indirect operating costs, provide better visibility, and reduce reliance on legacy systems and coding languages. Our organizational structure review indicated an opportunity to realize initial savings of approximately $400 million with potential opportunities to save up to an additional $240 million through the reduction of spans and layers of management with an anticipation that these savings would be recurring. The business portfolio review was expanded in 2022. As a result thereof, we determined to exit certain businesses that were not aligned with our corporate strategy and determined to make new investments into certain businesses, including healthcare-focused businesses, better aligned to our strategic targets. In connection therewith, we incurred costs primarily consisting of outside professional fees related to these reviews and other costs related to these transactions. Lastly, our review of our systems and technologies identified certain areas of our business that were reliant on outdated technologies. Our reviews determined that continued use of these legacy technologies would likely increase maintenance costs and that investments into new technologies would enhance our ability to leverage our data and allow us to establish a more flexible system architecture. As of December 31, 2023, we substantially completed our initiatives to reduce spans and layers of management and achieved savings in line with our anticipated benefits. Our ongoing efforts under Transformation 2.0 include initiatives related to our financial systems and our business portfolio review. As of December 31, 2024, we have incurred $798 million of costs as part of Transformation 2.0. Transformation 2.0 initiatives are expected to conclude during 2025, with anticipated remaining costs of approximately $90 million primarily related to completion of our technology initiatives. Fit to Serve During 2023, we began our "Fit to Serve" initiative intended to right-size our business through a workforce reduction of approximately 14,000 positions, primarily within management, and create a more efficient operating model to enhance responsiveness to changing market dynamics. Accruals for separation costs of $45 and $205 million within Fit to Serve were included in our consolidated balance sheets as of December 31, 2024 and December 31, 2023, respectively. Separations accrued as of December 31, 2023 have been substantially completed and we expect that amounts accrued as of December 31, 2024 will be paid through the first half of 2025. As of December 31, 2024, we have incurred total costs of $416 million and anticipate that we will incur additional costs of approximately $45 million under Fit to Serve. Fit to Serve is expected to conclude in 2025. Network Reconfiguration and Efficiency Reimagined In the first quarter of 2025, as previously disclosed we entered into an agreement in principle with our largest customer to significantly reduce the volume we deliver for them. We expect volume from this customer to decline to approximately 50% of year end 2024 levels by mid-2026. We are making a deliberate shift in our business to increase our focus on growing higher yielding volume. We expect that these actions will result in reduced revenues within our U.S. Domestic Package segment, as described below, during 2025 relative to 2024. In conjunction therewith, as disclosed on January 30, 2025, we are beginning a network reconfiguration within the U.S. which is expected to lead to consolidations of our facilities and workforce as well as an end-to-end process redesign through 2027. This network reconfiguration, which is an expansion of our Network of the Future program, is expected to result in exit activities that could result in the closure of up to 10% of our buildings in 2025, a reduction in the size of our vehicle and aircraft fleets, and a decrease in the size of our workforce, which we expect will lead to additional expense. The costs directly associated with these activities are in addition to operational costs that we may incur. We are not yet able to determine the specific assets or extent of our workforce that will be impacted by our network redesign, the timing of those future changes or the associated charges we will incur and therefore are not currently able to provide an estimate of the total cost or the cost by period. We expect that impacted assets will remain in use during some or all of the periods of our network reconfiguration. We expect to partially offset costs to complete our network reconfiguration through end-to-end process redesign carried out during our network reconfiguration through our Efficiency Reimagined initiatives. These initiatives are being undertaken to align our organizational processes to the operational changes expected to occur in our network reconfiguration and drive organizational efficiency. These initiatives are expected to yield approximately $1.0 billion in annualized savings beginning in 2025. We incurred related costs of $35 million for the three months ended December 31, 2024. We expect to incur related costs of approximately $300 to $400 million during 2025 and incremental costs in 2026 and 2027 to complete the program primarily associated with outside professional services and severance costs. Upon the completion of our network reconfiguration and Efficiency Reimagined initiatives, we expect to realize further benefits in subsequent periods from lower expense, including depreciation, compensation, benefit and other, as well as lower capital requirements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income	$ 5,782	$ 6,708	$ 11,548

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Risk Committee oversees the Company’s approach to cybersecurity risk assessment and mitigation by, among other things, (i) reviewing the Company’s cybersecurity insurance program, (ii) reviewing the Company’s cybersecurity budget, (iii) discussing the results of various internal cybersecurity audits and periodic independent third-party assessments of the Company’s cybersecurity programs, (iv) being briefed on cybersecurity matters by outside experts, and (v) receiving regular updates from the Company’s Chief Information Security Officer (“CISO”) and others on cybersecurity risks, operational metrics, compliance and regulatory developments, training programs, risk mitigation activities, key projects and industry developments. The Company's Chief Legal and Compliance Officer ("CLCO"), Chief Digital and Technology Officer ("CDTO"), CISO and Vice President of Compliance and Internal Audit participate in Risk Committee meetings and meet individually with the Risk Committee on a periodic basis to discuss and address relevant matters, including the Company’s approach to cybersecurity risk assessment and mitigation. The CISO reports to the CDTO, who in turn reports to the Chief Executive Officer ("CEO"). The CISO has more than thirty years of IT experience, has served many years in various information security management roles and has multiple cybersecurity certifications. The Company maintains an enterprise risk management process designed to identify potential events that may affect the achievement of the Company's objectives or have a material adverse effect on the Company. Cybersecurity is among the risks considered as a part of this process. The Company's management, including the CISO, also participates on the Company's Information Security & Privacy Governance Council (“ISPGC”). The ISPGC meets periodically to consider information security and privacy matters. The Company utilizes various technical and qualitative processes to assist in identifying, assessing and managing cybersecurity risks. The Company's processes include periodic discussions and risk reviews with management. These processes also include, depending on facts and circumstances, internal audits, third-party assessments, post-remediation reviews, engagements with independent third-party service providers and key governmental agencies, regular employee training, an incident response plan and backup and recovery plans. Our periodic engagements with independent third-party service providers are designed to provide qualitative and technical cybersecurity assessments. The Company has a corporate-level cybersecurity team, led by the CISO, that, among other responsibilities, receives and reviews reports regarding potential threats, trends and remediation strategies. The cybersecurity team evaluates threat intelligence and information obtained from various sources, including internal, public or private sources, government agencies and external consultants. Certain of the Company's subsidiaries have separate cybersecurity teams that, along with the corporate-level cybersecurity team, play a role in the Company's efforts to monitor, identify, assess and manage cybersecurity risks. The Company interacts with the information technology networks and systems of third parties for many aspects of our business. We consider and evaluate cybersecurity risks associated with the use of independent third-party service providers. To help UPS understand and mitigate potential cybersecurity risks related to third parties, we generally utilize measures such as vendor risk assessments, periodic technical assessments of third-party vendors' controls and contracts governing the use of and access to our data and compliance with our security requirements. We maintain an Incident Response Plan that includes processes and procedures for reviewing and responding to cybersecurity incidents. We periodically test our readiness to respond to a cybersecurity incident through various scenario-based drills. The Incident Response Plan includes processes for escalation to the CISO, the Executive Leadership Team, including the CEO, the Risk Committee and the Board, and a process for consideration of whether a cybersecurity incident is material and may require disclosure in SEC filings.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company maintains an enterprise risk management process designed to identify potential events that may affect the achievement of the Company's objectives or have a material adverse effect on the Company.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board has appointed a Risk Committee, consisting entirely of independent directors, whose responsibilities include assisting the Board in overseeing management’s identification and evaluation of strategic enterprise risks, including risks associated with privacy, technology, information security, cybersecurity and cyber incident response and business continuity. The Risk Committee regularly updates the Board on these activities.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board has appointed a Risk Committee, consisting entirely of independent directors, whose responsibilities include assisting the Board in overseeing management’s identification and evaluation of strategic enterprise risks, including risks associated with privacy, technology, information security, cybersecurity and cyber incident response and business continuity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Company utilizes various technical and qualitative processes to assist in identifying, assessing and managing cybersecurity risks. The Company's processes include periodic discussions and risk reviews with management. These processes also include, depending on facts and circumstances, internal audits, third-party assessments, post-remediation reviews, engagements with independent third-party service providers and key governmental agencies, regular employee training, an incident response plan and backup and recovery plans. Our periodic engagements with independent third-party service providers are designed to provide qualitative and technical cybersecurity assessments. The Company has a corporate-level cybersecurity team, led by the CISO, that, among other responsibilities, receives and reviews reports regarding potential threats, trends and remediation strategies. The cybersecurity team evaluates threat intelligence and information obtained from various sources, including internal, public or private sources, government agencies and external consultants. Certain of the Company's subsidiaries have separate cybersecurity teams that, along with the corporate-level cybersecurity team, play a role in the Company's efforts to monitor, identify, assess and manage cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block]	The Risk Committee oversees the Company’s approach to cybersecurity risk assessment and mitigation by, among other things, (i) reviewing the Company’s cybersecurity insurance program, (ii) reviewing the Company’s cybersecurity budget, (iii) discussing the results of various internal cybersecurity audits and periodic independent third-party assessments of the Company’s cybersecurity programs, (iv) being briefed on cybersecurity matters by outside experts, and (v) receiving regular updates from the Company’s Chief Information Security Officer (“CISO”) and others on cybersecurity risks, operational metrics, compliance and regulatory developments, training programs, risk mitigation activities, key projects and industry developments. The Company's Chief Legal and Compliance Officer ("CLCO"), Chief Digital and Technology Officer ("CDTO"), CISO and Vice President of Compliance and Internal Audit participate in Risk Committee meetings and meet individually with the Risk Committee on a periodic basis to discuss and address relevant matters, including the Company’s approach to cybersecurity risk assessment and mitigation. The CISO reports to the CDTO, who in turn reports to the Chief Executive Officer ("CEO"). The CISO has more than thirty years of IT experience, has served many years in various information security management roles and has multiple cybersecurity certifications. The Company maintains an enterprise risk management process designed to identify potential events that may affect the achievement of the Company's objectives or have a material adverse effect on the Company. Cybersecurity is among the risks considered as a part of this process. The Company's management, including the CISO, also participates on the Company's Information Security & Privacy Governance Council (“ISPGC”). The ISPGC meets periodically to consider information security and privacy matters. The Company utilizes various technical and qualitative processes to assist in identifying, assessing and managing cybersecurity risks. The Company's processes include periodic discussions and risk reviews with management. These processes also include, depending on facts and circumstances, internal audits, third-party assessments, post-remediation reviews, engagements with independent third-party service providers and key governmental agencies, regular employee training, an incident response plan and backup and recovery plans. Our periodic engagements with independent third-party service providers are designed to provide qualitative and technical cybersecurity assessments. The Company has a corporate-level cybersecurity team, led by the CISO, that, among other responsibilities, receives and reviews reports regarding potential threats, trends and remediation strategies. The cybersecurity team evaluates threat intelligence and information obtained from various sources, including internal, public or private sources, government agencies and external consultants. Certain of the Company's subsidiaries have separate cybersecurity teams that, along with the corporate-level cybersecurity team, play a role in the Company's efforts to monitor, identify, assess and manage cybersecurity risks. The Company interacts with the information technology networks and systems of third parties for many aspects of our business. We consider and evaluate cybersecurity risks associated with the use of independent third-party service providers. To help UPS understand and mitigate potential cybersecurity risks related to third parties, we generally utilize measures such as vendor risk assessments, periodic technical assessments of third-party vendors' controls and contracts governing the use of and access to our data and compliance with our security requirements.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Board has appointed a Risk Committee, consisting entirely of independent directors, whose responsibilities include assisting the Board in overseeing management’s identification and evaluation of strategic enterprise risks, including risks associated with privacy, technology, information security, cybersecurity and cyber incident response and business continuity.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CISO has more than thirty years of IT experience, has served many years in various information security management roles and has multiple cybersecurity certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Risk Committee oversees the Company’s approach to cybersecurity risk assessment and mitigation by, among other things, (i) reviewing the Company’s cybersecurity insurance program, (ii) reviewing the Company’s cybersecurity budget, (iii) discussing the results of various internal cybersecurity audits and periodic independent third-party assessments of the Company’s cybersecurity programs, (iv) being briefed on cybersecurity matters by outside experts, and (v) receiving regular updates from the Company’s Chief Information Security Officer (“CISO”) and others on cybersecurity risks, operational metrics, compliance and regulatory developments, training programs, risk mitigation activities, key projects and industry developments. The Company's Chief Legal and Compliance Officer ("CLCO"), Chief Digital and Technology Officer ("CDTO"), CISO and Vice President of Compliance and Internal Audit participate in Risk Committee meetings and meet individually with the Risk Committee on a periodic basis to discuss and address relevant matters, including the Company’s approach to cybersecurity risk assessment and mitigation.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Financial Statements and Business Activities	Basis of Financial Statements and Business Activities The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), and include the accounts of United Parcel Service, Inc., and all of its consolidated subsidiaries (collectively "UPS" or the "Company"). All intercompany balances and transactions have been eliminated. We provide transportation services, primarily domestic and international letter, package and air cargo delivery. Through our Supply Chain Solutions subsidiaries, we are also a global provider of transportation, logistics and related services.
Reclassification	In 2024, we reclassified certain operating expenses to better align with the manner in which we manage our operations. These reclassifications were inconsequential and substantially all of these costs were previously classified within operating expenses as Purchased transportation and have now been classified within operating expenses within Other expenses in the statements of consolidated income. The remaining line items within operating expenses and Other Income and (Expense) that were impacted by this reclassification were inconsequential. As a result, the statements of consolidated income give effect to this reclassification as follows: • Purchased transportation decreased by $11 and $9 million for 2023 and 2022, respectively. • Other expenses increased by $7 and $5 million for 2023 and 2022, respectively. The amounts for 2024 were not reported under this legacy basis but are also immaterial. The reclassification had no impact on our reported revenue, operating profit, Other Income and (Expense) , net income, or any internal performance measure on which management is compensated.
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingencies. Estimates have been prepared on the basis of the most current and best information, and actual results could differ materially from those estimates.
Revenue Recognition	Revenue Recognition United States ("U.S.") Domestic Package and International Package Operations: Revenue is recognized over time as we perform the services in the contract. Forwarding : Freight forwarding revenue, and expenses related to the transportation of freight are recognized over time as we perform the services. Customs brokerage revenue is recognized upon completing documents necessary for customs entry purposes. Logistics : In our Logistics businesses 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. Revenue Recognition 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. As of the fourth quarter of 2024, based on a change in our management reporting structure, U.S. Air Cargo revenue is presented within our U.S. Domestic Package segment and prior periods have been recast. Refer to note 14 for further information. 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. The vast majority of our contracts with customers are for transportation services that include only one performance obligation; the transportation services themselves. If a contract contains 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 services underlying each performance obligation. 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 that is accounted for as one performance obligation. Satisfaction of Performance Obligations We generally recognize revenue over time as we perform services in the contract because our customers receive the benefit of our services as goods are transported from one location to another. Further, if we were unable to complete delivery to the final location, those services would not need to be re-performed. We recognize revenue based on the extent of progress towards completion of our services. We use the cost-to-cost measure of progress for our package delivery contracts because it best depicts the benefit received by the customer, which occurs as we incur costs on our contracts. Under this measure, 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 service. 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 benefit 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; therefore we recognize revenue in the amount to which we have a right to invoice the customer. Variable Consideration Our contracts commonly contain customer incentives, guaranteed service refunds or other provisions that can either increase or decrease the rates paid for services. These variable amounts are generally dependent upon achievement of certain incentive tiers or performance metrics. We record revenue, which may be reduced by incentives or other contract provisions, to the extent it is probable that a significant reversal of cumulative amounts recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of revenue 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 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, customers pay 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 may utilize independent contractors and third-party carriers to perform transportation services. We have determined that all our major businesses act as principal rather than agent within their revenue arrangements. Consequently, revenue and the associated purchased transportation costs are 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. Contract Assets and Liabilities Contract assets include billed and unbilled amounts resulting from in-transit shipments, as we have an unconditional right to payment only when services have been completed (i.e., shipments have been delivered). Amounts do 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.
Cash and Cash Equivalents	Cash and Cash Equivalents
Marketable Securities and Non-Current Investments	Marketable Securities and Non-Current Investments Debt securities are classified as either trading or available-for-sale securities and are carried at fair value. Unrealized gains and losses on trading securities are reported as Investment income (expense) and other on the statements of consolidated income. Unrealized gains and losses on available-for-sale securities are reported within other comprehensive income, a separate component of shareowners’ equity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included in Investment income (expense) and other , together with interest and dividends. The cost of securities sold is based on the specific identification method; realized gains and losses resulting from such sales are included in Investment income (expense) and other . We periodically review our available-for-sale investments for indications of other-than-temporary impairment considering many factors, including the extent and duration to which a security’s fair value has been less than its cost, overall economic and market conditions and the financial condition and specific prospects for the issuer. Impairment of available-for-sale securities results in a charge to income when a market decline below cost is other-than-temporary, which includes consideration of whether we have both the intent and ability to hold such securities for the time necessary to recover the cost basis. If a decline in fair value is determined to be the result of a credit loss, then the decrease is recognized in income through an allowance for credit losses. Investments in equity securities through which we exercise significant influence but do not have control over the investee are accounted for under the equity method. We record the investment at cost and subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee. Gains and losses from equity method investments are reported in Investment income (expense) and other on the statements of consolidated income. We record dividends or other equity distributions as reductions of the carrying value of the investment. Equity method investments are included within Other Non-Current Assets in our consolidated balance sheets.
Inventories	Inventories
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are carried at cost less accumulated depreciation. We evaluate the useful lives of our property, plant and equipment based on our usage, maintenance and replacement policies, and taking into account physical and economic factors that may affect the useful lives of the assets. Depreciation and amortization are provided by the straight-line method over the estimated useful lives of the assets, which are as follows: • Aircraft: 7 to 40 years, based on aircraft type and original aircraft manufacture date • Buildings: 10 to 40 years • Leasehold Improvements: lesser of asset useful life or lease term • Plant Equipment: 3 to 20 years • Technology Equipment: 3 to 10 years • Vehicles: 5 to 15 years Routine maintenance and repairs are generally charged to expense as incurred. For substantially all of our aircraft, the costs of major airframe and engine overhauls, as well as routine maintenance and repairs, are charged to expense as incurred.
Leases	Leases We recognize a right-of-use ("ROU") asset and lease obligation for all leases greater than twelve months, including reasonably certain renewal or purchase options. Some of our leases contain both lease and non-lease components, which we have elected to treat as a single lease component. Lease costs for short-term leases are recognized on a straight-line basis over the lease term. Certain of 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.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Costs of purchased businesses in excess of net identifiable assets acquired (goodwill) and indefinite-lived intangible assets are tested for impairment at least annually, unless changes in circumstances indicate an impairment may have occurred between annual tests. We complete our annual goodwill impairment evaluation as of July 1 on a reporting unit basis. In assessing goodwill for impairment, we initially evaluate qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. We consider several factors, including macroeconomic conditions, industry and market conditions, overall financial performance of the reporting unit, changes in management, strategy or customers and relevant reporting unit-specific events such as a change in the carrying amount of net assets, a more likely than not expectation of selling or disposing of all, or a portion of, a reporting unit, and the testing for recoverability of a significant asset group within a reporting unit. If this qualitative assessment results in a conclusion that it is more likely than not that the fair value of a reporting unit exceeds the carrying value, then no further testing is performed for that reporting unit. If the qualitative assessment is not conclusive, or if we elect to bypass the qualitative test, we quantitatively assess the fair value of a reporting unit to test goodwill for impairment. We assess the fair value of a reporting unit using a combination of discounted cash flow modeling and observable valuation multiples for comparable companies. Our estimates are developed using assumptions that we believe are consistent with how a market participant would value our reporting units. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, we record the excess amount as goodwill impairment, not to exceed the total amount of goodwill allocated to the reporting unit. Finite-lived intangible assets, including trademarks, licenses, patents, customer lists, non-compete agreements and franchise rights are amortized on a straight-line basis over their estimated useful lives, which range from 2 to 21 years. Capitalized software is generally amortized over 7 years. Finite-lived intangible assets are assessed for impairment as part of asset groups whenever events or changes in circumstances indicate that their carrying value may not be recoverable.
Assets Held for Sale	Assets Held for Sale We classify long-lived assets or disposal groups as held for sale in the period when all of the following conditions have been met: • we have approved and committed to a plan to sell the assets or disposal group; • the asset or disposal group is available for immediate sale in its present condition; • an active program to locate a buyer and other actions required to complete the sale have been initiated; • the sale of the asset or disposal group is probable and expected to be completed within one year; • the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and • it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We initially measure a long-lived asset or disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell and recognize any loss in the period in which the held for sale criteria are met. Gains are not recognized until the date of sale. We cease depreciation and amortization of a long-lived asset, or assets within a disposal group, upon their designation as held for sale and subsequently assess fair value less any costs to sell at each reporting date until the asset or disposal group is no longer classified as held for sale.
Supplier Finance Programs	Supplier Finance Programs As part of our working capital management, certain financial institutions offer a Supply Chain Finance ("SCF") program to certain of our suppliers. We agree to commercial terms with our suppliers, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the SCF program. Suppliers issue invoices to us based on the agreed-upon contractual terms. If they participate in the SCF program, our suppliers, at their sole discretion, determine which invoices, if any, to sell to the financial institutions. Our suppliers’ voluntary inclusion of invoices in the SCF program has no bearing on our payment terms. No guarantees are provided by us under the SCF program. We have no economic interest in a supplier’s decision to participate, and we have no direct financial relationship with the financial institutions, as it relates to the SCF program. Amounts due to our suppliers that participate in the SCF program are included in Accounts payable
Self-Insurance Accruals	Self-Insurance Accruals We self-insure costs associated with workers' compensation claims, automobile liability, health and welfare and general business liabilities, up to certain limits. Self-insurance reserves are established for estimates of the losses we will ultimately incur on reported claims, as well as estimates of claims that have been incurred but not yet reported. The expected ultimate cost for claims incurred is estimated based upon historical loss experience and judgments about the present and expected levels of cost per claim. Trends in actual experience are a significant factor in the determination of our reserves. We also sponsor a number of health and welfare insurance plans for our employees. Liabilities and expenses related to these plans are based on estimates of the number of employees and eligible dependents covered under the plans, global health events, anticipated medical usage by participants and overall trends in medical costs and inflation.
Pension and Postretirement Benefits	Pension and Postretirement Benefits We incur certain employment-related expenses associated with company-sponsored defined benefit pension and postretirement medical benefits. These expenses are calculated using various actuarial assumptions and methodologies, including discount rates, expected returns on plan assets, healthcare cost trend rates, inflation, compensation increase rates, mortality rates and coordination of benefits with plans not sponsored by UPS. Actuarial assumptions are reviewed on an annual basis, unless circumstances require an interim measurement of any of our plans. We recognize changes in the fair value of plan assets and net actuarial gains or losses in excess of a corridor (defined as 10% of the greater of the fair value of plan assets or the plan's projected benefit obligation) in Investment income (expense) and other, in the statement of consolidated income, upon remeasurement of a plan. The remaining components of pension expense, primarily service and interest costs and the expected return on plan assets, are recorded ratably on a quarterly basis. We recognize expense for required contributions to defined contribution plans quarterly, and we recognize a liability for any contributions due and unpaid within Accrued group welfare and retirement plan contributions within our consolidated balance sheets. We participate in a number of trustee-managed multiemployer pension and health and welfare plans for employees covered under collective bargaining agreements. Our contributions to these plans are determined in accordance with the respective collective bargaining agreements. We recognize expense for the contractually required contribution for each period, and we recognize a liability for any contributions due and unpaid within Accrued group welfare and retirement plan contributions .
Income Taxes	Income Taxes Income taxes are accounted for on an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. In estimating future tax consequences, we generally consider all expected future events other than proposed changes in the tax law or rates. Valuation allowances are provided if it is more likely than not that a deferred tax asset will not be realized. Our current accounting policy for releasing income tax effects from other comprehensive income is based on a portfolio approach. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. Once it is determined that the position meets the recognition threshold, the second step requires us to estimate and measure the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement. The difference between the amount of recognizable tax benefit and the total amount of tax benefit from positions filed or to be filed with the tax authorities is recorded as a liability for uncertain tax benefits. It is inherently difficult and subjective to estimate such amounts, as we have to determine the probability of various possible outcomes. We reevaluate uncertain tax positions on a quarterly basis. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, effectively settled issues under audit and new audit activity. Such a change in recognition or measurement could result in the recognition of a tax benefit or an additional charge to the tax provision.
Foreign Currency Translation and Remeasurement	Foreign Currency Translation and Remeasurement
Stock-Based Compensation	Stock-Based Compensation Share-based awards are measured based on their fair values and expensed over the period during which an employee is required to provide service in exchange for the award (the vesting period), less estimated forfeitures. We have issued employee share-based awards under various incentive compensation plans that contain vesting conditions, including service conditions, where the awards cliff vest after one
Fair Value Measurements	Fair Value Measurements Our financial assets and liabilities measured at fair value on a recurring basis have been categorized based upon a fair value hierarchy. Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Level 2 inputs are based on other observable market data, such as quoted prices for similar assets and liabilities, and inputs other than quoted prices that are observable, such as interest rates and yield curves. Level 3 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. Certain investments described further in note 5, that do not have a readily determinable fair value, are measured at net asset value ("NAV") using NAV as a practical expedient or an equivalent developed consistent with the measurement principles in Accounting Standards Codification Topic 820. Plan assets that are measured using NAV as a practical expedient are excluded from the fair value hierarchy. Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, including property, plant, and equipment, goodwill and intangible assets. These assets are subject to fair value adjustments in certain circumstances, such as when there is an impairment. For business acquisitions, we allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and identified intangible assets based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. During the measurement period, which is up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Following the conclusion of the measurement period, any subsequent adjustments are recorded to earnings.
Derivative Instruments	Derivative Instruments We recognize all derivative instruments as assets or liabilities in our consolidated balance sheets at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, we designate the derivative as a cash flow hedge, a fair value hedge or a hedge of a net investment in a foreign operation based upon the exposure being hedged. • A cash flow hedge refers to hedging the exposure to variability in expected future cash flows that is attributable to a particular risk. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of other comprehensive income, and reclassified into earnings in the period during which the hedged transaction affects earnings. • A fair value hedge refers to hedging the exposure to changes in the fair value of an existing asset or liability that is attributable to a particular risk. For derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative instrument is recognized in earnings during the current period, together with the gain or loss on the hedged item. • A net investment hedge refers to the use of cross currency swaps, forward contracts or foreign-currency-denominated debt to hedge portions of net investments in foreign operations. For instruments that meet the hedge accounting requirements, the net gains or losses attributable to changes in spot exchange rates are recorded in the foreign currency translation adjustment within other comprehensive income, and are recorded in the income statement when the hedged item affects earnings.
Adoption of New Accounting Standards and Accounting Standards Issued But Not Yet Effective	Adoption of New Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, Reference Rate Reform (Topic 848), and in December 2022 subsequently issued ASU 2022-06, to temporarily ease the potential burden in accounting for reference rate reform. As of December 31, 2023, we had transitioned our affected debt instruments and contracts to an alternative reference rate and, as a result, we did not elect to apply the practical expedients provided under Topic 848 to these transitions, and we did not observe any further impact as of December 31, 2024. In November 2023, the FASB issued an ASU on segment reporting. The standard requires new disclosures reconciling significant segment expenses to segment profit measures and additional qualitative information about how segment measures are used by management. Effective December 31, 2024, we adopted this ASU retrospectively for all prior periods presented. The adoption did not have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. See note 14 for our segment disclosures. Other accounting pronouncements adopted during the periods covered by the consolidated financial statements did not have a material impact on our consolidated financial position, results of operations, cash flows or internal controls. Accounting Standards Issued But Not Yet Effective In December 2023, the FASB issued an ASU to enhance tax-related disclosures. This update will require more standardized categories for tax rate reconciliation and additional detail for significant tax items. It will also require a breakdown of income taxes paid by jurisdiction exceeding 5% of total taxes and remove certain disclosure requirements for unremitted foreign earnings and uncertain tax positions. The standard becomes effective for us in the first quarter of 2025. We are evaluating its impact on our financial statements, disclosures and internal controls but do not expect this ASU to have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. In November 2024, the FASB issued an ASU on expense disaggregation disclosures, which will require tabular disclosure in the notes to financial statements for specific expense categories. The standard becomes effective for us beginning with our 2027 annual report and for interim and annual periods thereafter. This ASU provides for additional expense disclosures. We are evaluating its impact on our financial statements, disclosures and internal controls but do not expect this ASU to have a significant impact on our consolidated financial position, results of operations, cash flows or internal controls. Other accounting pronouncements issued, but not effective until after December 31, 2024, are not expected to have a material impact on our consolidated financial position, results of operations, cash flows or internal controls.

SUMMARY OF ACCOUNTING POLICIE_2

SUMMARY OF ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Rollforward of Outstanding Supplier Finance Program Obligations	A rollforward of obligations confirmed and paid during the year is presented below (dollars in millions): 2024 2023 Confirmed obligations outstanding at the beginning of the year $ 504 $ 806 Invoices confirmed during the year 1,722 2,428 Confirmed invoices paid during the year (1,711) (2,730) Confirmed obligations outstanding at the end of the year $ 515 $ 504

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue Year Ended December 31, 2024 2023 2022 Revenue: Next Day Air $ 9,703 $ 9,894 $ 10,699 Deferred 4,757 5,093 5,968 Ground 45,347 44,971 47,542 Cargo & Other 569 247 402 U.S. Domestic Package $ 60,376 $ 60,205 $ 64,611 Domestic $ 3,186 $ 3,144 $ 3,346 Export 14,142 14,003 15,341 Cargo & Other 632 684 1,011 International Package $ 17,960 $ 17,831 $ 19,698 Forwarding $ 4,728 $ 5,534 $ 8,943 Logistics 6,437 5,927 5,351 Other 1,569 1,461 1,735 Supply Chain Solutions $ 12,734 $ 12,922 $ 16,029 Consolidated revenue $ 91,070 $ 90,958 $ 100,338
Schedule of Contract Assets and Liabilities	Contract assets and liabilities as of December 31, 2024 and 2023 were as follows (in millions): Balance Sheet Location 2024 2023 Contract Assets: Revenue related to in-transit packages Other current assets $ 307 $ 237 Contract Liabilities: Short-term advance payments from customers Other current liabilities $ 13 $ 20 Long-term advance payments from customers Other non-current liabilities $ 27 $ 25

MARKETABLE SECURITIES AND NON_2

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Marketable Securities	The following is a summary of marketable securities classified as trading and available-for-sale as of December 31, 2024 and 2023 (in millions): Cost Unrealized Unrealized Estimated 2024 Current trading marketable securities: Equity securities $ 3 $ — $ — $ 3 Total trading marketable securities 3 — — 3 Current available-for-sale marketable securities: U.S. government and agency debt securities 165 — (1) 164 Mortgage and asset-backed debt securities — — — — Corporate debt securities 39 — — 39 Non-U.S. government debt securities — — — — Total available-for-sale marketable securities 204 — (1) 203 Total current marketable securities $ 207 $ — $ (1) $ 206 Cost Unrealized Unrealized Estimated 2023 Current trading marketable securities: Equity securities $ 4 $ — $ — $ 4 Total trading marketable securities 4 — — 4 Current available-for-sale marketable securities: U.S. government and agency debt securities 963 2 (4) 961 Mortgage and asset-backed debt securities 3 — — 3 Corporate debt securities 1,891 4 (4) 1,891 Non-U.S. government debt securities 7 — — 7 Total available-for-sale marketable securities 2,864 6 (8) 2,862 Total current marketable securities $ 2,868 $ 6 $ (8) $ 2,866
Schedule of Unrealized Loss on Marketable Securities	The following table presents the age of gross unrealized losses and fair value by investment category for all securities in a loss position as of December 31, 2024 (in millions): Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. government and agency debt securities $ — $ — $ 162 $ (1) $ 162 $ (1) Total marketable securities $ — $ — $ 162 $ (1) $ 162 $ (1)
Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity	The amortized cost and estimated fair value of marketable securities as of December 31, 2024 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 $ 161 $ 161 Due after one year through three years 43 42 Due after three years through five years — — Due after five years — — 204 203 Equity securities 3 3 $ 207 $ 206
Investments Measured at Fair Value on a Recurring Basis	The following table presents information about our investments measured at fair value on a recurring basis as of December 31, 2024 and 2023, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in millions): Quoted Prices in Significant Other Observable Significant Total 2024 Marketable Securities: U.S. government and agency debt securities $ 164 $ — $ — $ 164 Mortgage and asset-backed debt securities — — — — Corporate debt securities 25 14 — 39 U.S. state and local municipal debt securities — — — — Equity securities — 3 — 3 Non-U.S. government debt securities — — — — Total marketable securities 189 17 — 206 Other non-current investments (1) — 19 — 19 Total $ 189 $ 36 $ — $ 225 (1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan. Quoted Prices in Significant Other Significant Total 2023 Marketable Securities: U.S. government and agency debt securities $ 961 $ — $ — $ 961 Mortgage and asset-backed debt securities — 3 — 3 Corporate debt securities — 1,891 — 1,891 U.S. state and local municipal debt securities — — — — Equity securities — 4 — 4 Non-U.S. government debt securities — 7 — 7 Total marketable securities 961 1,905 — 2,866 Other non-current investments (1) — 19 — 19 Total $ 961 $ 1,924 $ — $ 2,885 (1) Represents a variable life insurance policy funding benefits for the UPS Excess Coordinating Benefit Plan.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, including owned assets and assets subject to finance leases, consisted of the following as of December 31, 2024 and 2023 (in millions): 2024 2023 Vehicles $ 11,912 $ 11,768 Aircraft 23,768 22,888 Land 2,104 2,138 Buildings 6,714 6,255 Building and leasehold improvements 5,601 5,241 Plant equipment 18,495 17,322 Technology equipment 2,735 2,656 Construction-in-progress 1,967 3,247 73,296 71,515 Less: Accumulated depreciation and amortization (36,117) (34,570) Property, Plant and Equipment, Net $ 37,179 $ 36,945

COMPANY-SPONSORED EMPLOYEE BE_2

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Net Periodic Benefit Cost for Pension and Postretirement Benefit Plans	Information about net periodic benefit cost for the company-sponsored pension and postretirement defined benefit plans is as follows (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2022 2024 2023 2022 2024 2023 2022 Net Periodic Benefit Cost: Service cost $ 1,240 $ 1,172 $ 2,024 $ 20 $ 20 $ 30 $ 42 $ 43 $ 68 Interest cost 2,574 2,508 1,950 109 116 83 66 66 45 Expected return on plan assets (3,085) (2,967) (3,280) (4) (12) (4) (83) (84) (78) Amortization of prior service cost 152 106 93 1 2 — 1 1 1 Actuarial (gain) loss 673 393 (875) — — — (8) (42) (152) Curtailment and settlement (gain) loss — — — — — — — 8 (34) Net periodic benefit cost $ 1,554 $ 1,212 $ (88) $ 126 $ 126 $ 109 $ 18 $ (8) $ (150)
Weighted Average Actuarial Assumptions Used Disclosure	The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost: U.S. Pension Benefits U.S. Postretirement International 2024 2023 2022 2024 2023 2022 2024 2023 2022 Service cost discount rate 5.42 % 5.79 % 3.13 % 5.80 % 6.06 % 3.28 % 4.59 % 5.09 % 2.78 % Interest cost discount rate 5.42 % 5.79 % 3.13 % 5.80 % 6.06 % 3.28 % 4.56 % 5.02 % 2.74 % Rate of compensation increase 3.25 % 3.25 % 4.29 % N/A N/A N/A 3.19 % 3.20 % 3.17 % Expected return on plan assets 7.17 % 7.07 % 5.90 % 6.36 % 6.62 % 4.77 % 4.54 % 5.13 % 3.87 % Cash balance interest credit rate 3.83 % 4.21 % 2.50 % N/A N/A N/A 3.31 % 3.69 % 2.94 % The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans: U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Discount rate 5.88 % 5.42 % 6.18 % 5.80 % 4.45 % 4.21 % Rate of compensation increase 3.25 % 3.25 % N/A N/A 3.04 % 3.19 % Cash balance interest credit rate 4.30 % 3.83 % N/A N/A 3.09 % 3.31 %
Schedule of One Basis Point Change in Discount Rate on the Projected Benefit Obligation	As of December 31, 2024, the impact of each basis point change in the discount rate on the projected benefit obligation of our pension and postretirement medical benefit plans was as follows (in millions): Increase (Decrease) in the Projected Benefit Obligation Pension Benefits Postretirement Medical Benefits One basis point increase in discount rate $ (57) $ (1) One basis point decrease in discount rate $ 60 $ 1
Funded Status as of the Respective Measurement Dates in Each Year and the Amounts Recognized in Balance Sheet	The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31 (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Funded Status: Fair value of plan assets $ 41,499 $ 43,491 $ 119 $ 98 $ 1,778 $ 1,893 Benefit obligation (46,559) (47,712) (1,850) (1,974) (1,500) (1,601) Funded status recognized at December 31 $ (5,060) $ (4,221) $ (1,731) $ (1,876) $ 278 $ 292 Funded Status Amounts Recognized in our Balance Sheet: Other non-current assets $ — $ — $ — $ — $ 480 $ 510 Other current liabilities (27) (26) (100) (123) (7) (7) Pension and postretirement benefit obligations (5,033) (4,195) (1,631) (1,753) (195) (211) Net liability at December 31 $ (5,060) $ (4,221) $ (1,731) $ (1,876) $ 278 $ 292 Amounts Recognized in AOCI (1) : Unrecognized net prior service cost $ (1,251) $ (1,326) $ (1) $ (2) $ (5) $ (7) Unrecognized net actuarial gain (loss) (2,686) (2,097) 131 129 107 99 Gross unrecognized cost at December 31 (3,937) (3,423) 130 127 102 92 Deferred tax asset at December 31 956 831 (32) (31) (32) (28) Net unrecognized cost at December 31 $ (2,981) $ (2,592) $ 98 $ 96 $ 70 $ 64 (1) Accumulated Other Comprehensive Income (Loss)
Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets	As of December 31, 2024 and 2023, the projected benefit obligation, the accumulated benefit obligation and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions): Projected Benefit Obligation Accumulated Benefit Obligation 2024 2023 2024 2023 U.S. Pension Benefits: Projected benefit obligation $ 46,559 $ 47,712 $ 46,559 $ 47,712 Accumulated benefit obligation 46,526 47,674 46,526 47,674 Fair value of plan assets 41,499 43,491 41,499 43,491 International Pension Benefits: Projected benefit obligation $ 337 $ 345 $ 281 $ 315 Accumulated benefit obligation 301 304 255 281 Fair value of plan assets 135 127 88 100
Reconciliation of the Changes in the Plans' Benefit Obligations and Fair Value of Plan Assets	The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions): U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Benefit Obligations: Projected benefit obligation at beginning of year $ 47,712 $ 43,504 $ 1,974 $ 2,016 $ 1,601 $ 1,416 Service cost 1,240 1,172 20 20 42 43 Interest cost 2,574 2,508 109 116 66 66 Gross benefits paid (2,604) (2,437) (284) (265) (55) (46) Plan participants’ contributions — — 39 34 4 4 Plan amendments (1) 76 699 — — — — Actuarial (gain)/loss (2,438) 2,266 (7) 53 (58) 99 Foreign currency exchange rate changes — — — — (99) 51 Curtailments and settlements — — — — (4) (38) Other (1) — (1) — 3 6 Projected benefit obligation at end of year $ 46,559 $ 47,712 $ 1,850 $ 1,974 $ 1,500 $ 1,601 U.S. Pension Benefits U.S. Postretirement International 2024 2023 2024 2023 2024 2023 Fair Value of Plan Assets: Fair value of plan assets at beginning of year $ 43,491 $ 42,058 $ 98 $ 215 $ 1,893 $ 1,643 Actual return on plan assets (615) 2,664 (2) (8) 41 201 Employer contributions 1,228 1,206 269 122 27 65 Plan participants’ contributions — — 39 34 4 4 Gross benefits paid (2,604) (2,437) (284) (265) (55) (46) Foreign currency exchange rate changes — — — — (118) 64 Curtailments and settlements — — — — (4) (38) Other (1) — (1) — (10) — Fair value of plan assets at end of year $ 41,499 $ 43,491 $ 119 $ 98 $ 1,778 $ 1,893 (1) Plan amendments in 2024 and 2023 were related to collective bargaining agreements with the Teamsters.
Fair Values of U.S. Pension and Postretirement Benefit Plan Assets by Asset Category as Well as the Percentage That Each Category Comprises of Total Plan Assets and the Respective Target Allocations	The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2024 and 2023 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations. The asset categories within equity securities, fixed income securities, and alternative and other investments in the table below have been collapsed from prior year presentation to align with the nature, characteristics, and type of underlying risk of those assets. There were no transfers between asset categories. December 31, 2024 Total Assets (1) Level 1 Level 2 Level 3 Percentage of Plan Assets Percentage Target Asset Category (U.S. Plans): Cash and cash equivalents (3) $ 5,716 $ 5,450 $ 266 $ — 13.7 % 1-7% Equity securities 6,979 3,270 3,709 — 16.8 % 15-45% Fixed income securities 19,643 13,375 6,247 21 47.2 % 30-73% Alternative and other investments (1) : Hedge funds 2,034 — 538 — 4.9 % 3-13% Real estate 2,674 301 77 — 6.4 % 3-15% Private equity, private debt, and other investments 6,508 — 195 — 15.6 % 5-29% Total Alternative and other investments 11,216 301 810 — Derivatives and other instruments, net: Equity risk (392) (99) (294) — (0.9) % Interest rate risk (1,619) (442) (1,177) — (3.9) % Other risk (2) 75 2 73 — 0.2 % Total Derivatives and other instruments (1,936) (539) (1,398) — Total U.S. plan assets $ 41,618 $ 21,857 $ 9,634 $ 21 100.0 % Asset Category (International Plans): Cash and cash equivalents $ 127 $ 127 $ — $ — 7.1 % 1-10% Equity securities 165 23 142 — 9.3 % 1-10% Fixed income securities 1,202 243 959 — 67.6 % 50-75% Alternative and other investments (1) : Real estate 62 — 17 23 3.5 % 1-10% Private equity, private debt, and other investments 222 — 189 18 12.5 % 10-35% Total International plan assets $ 1,778 $ 393 $ 1,307 $ 41 100.0 % Total plan assets $ 43,396 $ 22,250 $ 10,941 $ 62 (1) Includes certain investments that are measured at NAV per share (or its equivalent). (2) Includes credit risk, foreign currency exchange risk and commodity risk. (3) Includes $2.7 billion of cash held as collateral for market exposures, which is not subject to the target allocations. December 31, 2023 Total Assets (1) Level 1 Level 2 Level 3 Percentage of Percentage Target Asset Category (U.S. Plans): Cash and cash equivalents $ 1,018 $ 894 $ 124 $ — 2.3 % 1-7% Equity securities 10,164 3,448 6,716 — 23.3 % 15-45% Fixed income securities 25,673 17,299 8,374 — 58.9 % 30-70% Alternative and other investments (1) : Hedge funds 3,959 28 2,194 — 9.1 % 3-13% Real estate 2,575 393 77 — 5.9 % 3-15% Private equity, private debt, and other investments 6,188 — 169 — 14.2 % 5-35% Total Alternative and other investments 12,722 421 2,440 — Derivative and other instruments, net: Equity risk contracts (136) 29 (165) — (0.3) % Interest rate risk contracts (5,877) (20) (5,857) — (13.5) % Other risk (2) 25 (1) 26 — 0.1 % Total Derivative and other instruments (5,988) 8 (5,996) — Total U.S. plan assets $ 43,589 $ 22,070 $ 11,658 $ — 100.0 % Asset Category (International Plans): Cash and cash equivalents $ 71 $ 77 $ (6) $ — 3.8 % 1-10% Equity securities 109 20 89 — 5.8 % 1-10% Fixed income securities 1,392 312 1,080 — 73.5 % 50-75% Alternative and other investments (1) : Real estate 66 — 18 25 3.5 % 1-10% Private equity, private debt, and other investments 255 — 183 55 13.4 % 10-35% Total International plan assets $ 1,893 $ 409 $ 1,364 $ 80 100.0 % Total plan assets $ 45,482 $ 22,479 $ 13,022 $ 80 (1) Includes certain investments that are measured at NAV per share (or its equivalent). (2) Includes credit risk, foreign currency exchange risk and commodity risk.
Fair Value Measurement of Plan Assets Using Significant Unobservable Inputs (Level 3)	The following table presents the changes in the Level 3 instruments measured on a recurring basis for the years ended December 31, 2024 and 2023 (in millions): Fixed Income Securities Alternative and Other Investments Total Balance as of January 1, 2023 $ — $ 77 $ 77 Actual Return on Assets: Assets Held at End of Year — 4 4 Assets Sold During the Year 2 — 2 Purchases 450 2 452 Sales (452) (3) (455) Transfers Into (Out of) Level 3 — — — Balance as of December 31, 2023 $ — $ 80 $ 80 Actual Return on Assets: Assets Held at End of Year (1) 1 — Assets Sold During the Year 4 (12) (8) Purchases 38 — 38 Sales (10) (28) (38) Transfers Into (Out of) Level 3 (10) — (10) Balance as of December 31, 2024 $ 21 $ 41 $ 62
Expected Cash Flows for Pension and Postretirement Benefit Plans	Information about expected cash flows for our pension and postretirement medical benefit plans is as follows (in millions): U.S. U.S. Postretirement International Pension Benefits Expected Employer Contributions: 2025 to plan trust $ 1,170 $ 140 $ 10 2025 to plan participants 28 93 7 Expected Benefit Payments: 2025 $ 2,395 $ 209 $ 55 2026 2,529 199 61 2027 2,665 190 67 2028 2,800 179 74 2029 2,926 169 79 2030 - 2034 16,292 731 469

MULTIEMPLOYER EMPLOYEE BENEFI_2

MULTIEMPLOYER EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
Postemployment Benefits [Abstract]
Multiemployer Plans	Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as contributions to each of these plans are not individually material. EIN / Pension Pension FIP / RP Status UPS Contributions and Accruals Surcharge Imposed Pension Fund 2024 2023 2024 2023 2022 Alaska Teamster-Employer Pension Plan 92-6003463-024 Red Red Yes Implemented $ 11 $ 10 $ 10 No Central Pennsylvania Teamsters Defined Benefit Plan 23-6262789-001 Green Green No NA 85 82 75 No Eastern Shore Teamsters Pension Fund 52-0904953-001 Green Green No NA 10 10 10 No Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund 55-6021850-001 Red Red Yes Implemented 21 21 21 No Hagerstown Motor Carriers and Teamsters Pension Fund 52-6045424-001 Green Green No NA 13 13 13 No I.A.M. National Pension Fund / National Pension Plan 51-6031295-002 Red Red Yes Implemented 53 50 48 No International Brotherhood of Teamsters Union Local No. 710 Pension Fund 36-2377656-001 Green Green No NA 194 196 191 No Local 705, International Brotherhood of Teamsters Pension Plan 36-6492502-001 Green Green No NA 142 138 136 No Local 804 I.B.T. & Local 447 I.A.M.—UPS Multiemployer Retirement Plan 51-6117726-001 Green Green No NA 139 143 144 No Milwaukee Drivers Pension Trust Fund 39-6045229-001 Green Green No NA 62 62 62 No New England Teamsters & Trucking Industry Pension Fund 04-6372430-001 Red Red Yes Implemented 224 234 167 No New York State Teamsters Conference Pension and Retirement Fund 16-6063585-074 Red Red Yes Implemented 136 139 149 No Teamster Pension Fund of Philadelphia and Vicinity 23-1511735-001 Green Green No NA 98 98 100 No Teamsters Joint Council No. 83 of Virginia Pension Fund 54-6097996-001 Green Green No NA 98 98 98 No Teamsters Local 639—Employers Pension Trust 53-0237142-001 Green Green No NA 83 84 85 No Teamsters Negotiated Pension Plan 43-6196083-001 Green Green No NA 47 49 49 No Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan 52-6043608-001 Green Green No NA 28 28 30 No United Parcel Service, Inc.—Local 177, I.B.T. Multiemployer Retirement Plan 13-1426500-419 Green Green No NA 111 122 124 No Western Conference of Teamsters Pension Plan 91-6145047-001 Green Green No NA 1,255 1,254 1,310 No Western Pennsylvania Teamsters and Employers Pension Fund 25-6029946-001 Red Red Yes Implemented 45 46 46 No All Other Multiemployer Pension Plans 92 76 73 Total Contributions $ 2,947 $ 2,953 $ 2,941 All Other Multiemployer Health and Welfare Plans line, as the contributions to each of these plans are not individually material. UPS Contributions and Accruals Health and Welfare Fund 2024 2023 2022 Bay Area Delivery Drivers $ 41 $ 40 $ 40 Central Pennsylvania Teamsters Health & Pension Fund 48 46 42 Central States, South East & South West Areas Health and Welfare Fund 3,849 3,712 3,497 Delta Health Systems—East Bay Drayage Drivers 37 39 39 Joint Council #83 Health & Welfare Fund 63 63 62 Local 401 Teamsters Health & Welfare Fund 24 23 22 Local 804 Welfare Trust Fund 131 131 129 Milwaukee Drivers Pension Trust Fund—Milwaukee Drivers Health and Welfare Trust Fund 64 64 62 New York State Teamsters Health & Hospital Fund 89 87 89 Northern California General Teamsters (DELTA) 202 206 211 Northern New England Benefit Trust 82 83 87 Oregon / Teamster Employers Trust 68 69 70 Teamsters 170 Health & Welfare Fund 22 21 25 Teamsters Benefit Trust 59 57 58 Teamsters Local 175 & 505 Health and Welfare Fund 20 20 20 Teamsters Local 191 Health Fund 30 29 17 Teamsters Local 251 Health & Insurance Plan 22 22 26 Teamsters Local 638 Health Fund 74 73 70 Teamsters Local 639—Employers Health & Pension Trust Funds 35 36 38 Teamsters Local 671 Health Services & Insurance Plan 24 24 25 Teamsters Union 25 Health Services & Insurance Plan 73 73 75 Teamsters Western Region & Local 177 Health Care Plan 1,109 1,076 1,035 Truck Drivers and Helpers Local 355 Baltimore Area Health & Welfare Fund 21 23 23 Utah-Idaho Teamsters Security Fund 53 54 54 Washington Teamsters Welfare Trust 83 88 88 All Other Multiemployer Health and Welfare Plans 108 109 129 Total Contributions $ 6,431 $ 6,268 $ 6,033

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Allocation of Goodwill by Reportable Segment	The following table indicates the allocation of goodwill (in millions): U.S. Domestic International Supply Chain Consolidated Balance as of January 1, 2023 $ 847 $ 492 $ 2,884 $ 4,223 Acquired — 4 723 727 Impairments — — (125) (125) Currency / Other — 7 40 47 Balance as of December 31, 2023 $ 847 $ 503 $ 3,522 $ 4,872 Acquired — — 4 4 Divestiture — — (495) (495) Currency / Other — (16) (65) (81) Balance as of December 31, 2024 $ 847 $ 487 $ 2,966 $ 4,300
Schedule of Finite-Lived Intangible Assets	The following is a summary of intangible assets as of December 31, 2024 and 2023 (in millions): Gross Carrying Accumulated Net Carrying Weighted-Average December 31, 2024 Capitalized software $ 6,088 $ (4,159) $ 1,929 6.9 Licenses 30 (12) 18 4.1 Franchise rights 348 (55) 293 20.0 Customer relationships 677 (206) 471 13.6 Trade name 109 (26) 83 10.2 Trademarks, patents and other 369 (103) 266 7.5 Amortizable intangible assets $ 7,621 $ (4,561) $ 3,060 8.2 Indefinite-lived intangible assets 4 — 4 Total Intangible Assets $ 7,625 $ (4,561) $ 3,064 December 31, 2023 Capitalized software $ 5,839 $ (3,900) $ 1,939 Licenses 30 (7) 23 Franchise rights 291 (49) 242 Customer relationships 1,115 (516) 599 Trade name 172 (30) 142 Trademarks, patents and other 320 (53) 267 Amortizable intangible assets $ 7,767 $ (4,555) $ 3,212 Indefinite-lived intangible assets 93 — 93 Total Intangible Assets $ 7,860 $ (4,555) $ 3,305
Schedule of Indefinite-Lived Intangible Assets	The following is a summary of intangible assets as of December 31, 2024 and 2023 (in millions): Gross Carrying Accumulated Net Carrying Weighted-Average December 31, 2024 Capitalized software $ 6,088 $ (4,159) $ 1,929 6.9 Licenses 30 (12) 18 4.1 Franchise rights 348 (55) 293 20.0 Customer relationships 677 (206) 471 13.6 Trade name 109 (26) 83 10.2 Trademarks, patents and other 369 (103) 266 7.5 Amortizable intangible assets $ 7,621 $ (4,561) $ 3,060 8.2 Indefinite-lived intangible assets 4 — 4 Total Intangible Assets $ 7,625 $ (4,561) $ 3,064 December 31, 2023 Capitalized software $ 5,839 $ (3,900) $ 1,939 Licenses 30 (7) 23 Franchise rights 291 (49) 242 Customer relationships 1,115 (516) 599 Trade name 172 (30) 142 Trademarks, patents and other 320 (53) 267 Amortizable intangible assets $ 7,767 $ (4,555) $ 3,212 Indefinite-lived intangible assets 93 — 93 Total Intangible Assets $ 7,860 $ (4,555) $ 3,305

ACQUISITIONS & DISPOSITIONS (Ta

ACQUISITIONS & DISPOSITIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summarizes Carrying Values of Assets and Liabilities Classified as Held for Sale	The following table summarizes the carrying values of the assets and liabilities divested (in millions): 2024 Assets: Cash and cash equivalents $ 20 Accounts receivable, net 405 Other current assets 34 Operating lease right-of-use assets 69 Goodwill 495 Intangible assets, net 195 Other non-current assets 18 Total assets divested $ 1,236 Liabilities: Accounts payable $ 216 Other current liabilities 54 Non-current operating leases 68 Other non-current liabilities 38 Total liabilities divested $ 376 Net assets divested $ 860
Schedule of Fair Value of Assets and Liabilities Acquired	The following table summarizes the final purchase price allocations (in millions): 2023 Cash and cash equivalents $ 18 Accounts receivable 60 Other current assets 8 Property, Plant and Equipment 10 Operating Lease Right-Of-Use Assets 24 Goodwill 739 Intangible Assets (1) 554 Other Non-Current Assets 52 Accounts Payable and other current liabilities (56) Non-Current Operating Leases (19) Deferred Income Tax Liabilities (43) Total purchase price $ 1,347 (1) Includes $64 million for acquisitions of development areas for The UPS Store. The following table summarizes the final purchase price allocations (in millions): 2022 Cash and cash equivalents $ 29 Accounts receivable 86 Other current assets 17 Property, Plant and Equipment 63 Operating Lease Right-Of-Use Assets 111 Goodwill 581 Intangible Assets (1) 381 Accounts Payable and other current liabilities (150) Non-Current Operating Leases (85) Long-Term Debt and Finance Leases (183) Deferred Income Tax Liabilities (66) Total purchase price $ 784 (1) Includes $113 million for acquisitions of development areas for The UPS Store.

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Carrying Value of Debt Obligations	The carrying value of our outstanding debt obligations, as of December 31, 2024 and 2023 consists of the following (in millions): Principal Carrying Value Amount Maturity 2024 2023 Commercial paper $ — $ — $ 2,172 Fixed Rate senior notes: 2.800% senior notes — 2024 — 499 2.200% senior notes — 2024 — 400 3.900% senior notes 1,000 2025 1,000 999 2.400% senior notes 500 2026 499 499 3.050% senior notes 1,000 2027 997 996 3.400% senior notes 750 2029 748 747 2.500% senior notes 400 2029 398 398 4.450% senior notes 750 2030 746 745 4.875% senior notes 900 2033 895 894 5.150% senior notes 900 2034 894 — 6.200% senior notes 1,500 2038 1,486 1,485 5.200% senior notes 500 2040 495 494 4.875% senior notes 500 2040 492 491 3.625% senior notes 375 2042 369 369 3.400% senior notes 500 2046 492 492 3.750% senior notes 1,150 2047 1,138 1,138 4.250% senior notes 750 2049 743 743 3.400% senior notes 700 2049 689 689 5.300% senior notes 1,250 2050 1,232 1,232 5.050% senior notes 1,100 2053 1,083 1,083 5.500% senior notes 1,100 2054 1,087 — 5.600% senior notes 600 2064 590 — Floating rate senior notes: Floating-rate senior notes 1,775 2049-2074 1,755 1,545 Debentures: 7.620% debentures 276 2030 279 280 Pound Sterling notes: 5.500% notes 84 2031 83 84 5.125% notes 572 2050 544 550 Euro Senior Notes: 1.625% notes 732 2025 731 774 1.000% notes 523 2028 521 551 1.500% notes 523 2032 521 551 Canadian Senior Notes: 2.125% notes — 2024 — 566 Finance lease obligations (see Note 11) 455 2025-2118 455 472 Facility notes and bonds 320 2029-2045 320 320 Other debt 2 2025-2026 2 6 Total debt $ 21,487 $ 21,284 $ 22,264 Less: current maturities (1,838) (3,348) Long-term debt $ 19,446 $ 18,916
Schedule of Maturities of Long-Term Debt	The following table sets forth the aggregate annual principal payments on our long-term debt and our projected aggregate annual purchase commitments (in millions): Year Debt Principal Purchase Commitments (1) 2025 $ 1,732 $ 2,925 2026 500 2,462 2027 1,000 701 2028 523 111 2029 1,150 7 After 2029 16,125 — Total $ 21,030 $ 6,206 (1) Purchase commitments include estimates of future amounts yet to be recognized in our financial statements. In addition to the purchase commitments presented above, during the first quarter of 2025 we entered into an accelerated share repurchase agreement for $1.0 billion worth of shares to be completed during the first quarter of 2025 and an agreement to purchase certain services totaling approximately $400 million to be paid over 10 years, beginning in 2025. Purchase commitments entered into after December 31, 2024 are not reflected in the table above.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Components of Lease Cost	The components of lease expense for the years ended December 31, 2024, 2023 and 2022 were as follows (in millions): 2024 2023 2022 Operating lease costs $ 912 $ 860 $ 736 Finance lease costs: Amortization of assets $ 145 $ 119 $ 112 Interest on lease liabilities 23 18 14 Total finance lease costs 168 137 126 Variable lease costs 311 279 270 Short-term lease costs 1,079 1,166 1,499 Total lease costs (1) $ 2,470 $ 2,442 $ 2,631 (1) This table excludes sublease income for all periods presented as it was not material. Supplemental cash flow information related to leases for the years ended December 31, 2024 and 2023 is as follows (in millions): 2024 2023 Cash paid for amounts included in measurement of obligations: Operating cash flows from operating leases $ 877 $ 835 Operating cash flows from finance leases 20 17 Financing cash flows from finance leases 136 126 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 740 $ 1,278 Finance leases 120 209
Supplemental Balance Sheet	Supplemental information related to leases and location within our consolidated balance sheets as of December 31, 2024 and 2023 are as follows (in millions, except lease term and discount rate): 2024 2023 Operating Leases: Operating lease right-of-use assets $ 4,149 $ 4,308 Current maturities of operating leases $ 733 $ 709 Non-current operating leases 3,635 3,756 Total operating lease obligations $ 4,368 $ 4,465 Finance Leases: Property, plant and equipment, net $ 657 $ 856 Current maturities of long-term debt, commercial paper and finance leases $ 104 $ 104 Long-term debt and finance leases 351 368 Total finance lease obligations $ 455 $ 472 Weighted average remaining lease term (in years): Operating leases 10.4 10.8 Finance leases 11.1 7.4 Weighted average discount rate: Operating leases 3.50 % 3.20 % Finance leases 3.84 % 3.88 %
Finance Leases Maturity Schedule	Future payments for lease obligations as of December 31, 2024 are as follows (in millions): Finance Leases Operating Leases 2025 $ 115 $ 847 2026 87 765 2027 55 659 2028 47 504 2029 38 388 Thereafter 207 2,049 Total lease payments 549 5,212 Less: Imputed interest (94) (844) Total lease obligations 455 4,368 Less: Current obligations (104) (733) Long-term lease obligations $ 351 $ 3,635
Operating Leases Maturity Schedule	Future payments for lease obligations as of December 31, 2024 are as follows (in millions): Finance Leases Operating Leases 2025 $ 115 $ 847 2026 87 765 2027 55 659 2028 47 504 2029 38 388 Thereafter 207 2,049 Total lease payments 549 5,212 Less: Imputed interest (94) (844) Total lease obligations 455 4,368 Less: Current obligations (104) (733) Long-term lease obligations $ 351 $ 3,635

SHAREOWNERS' EQUITY (Tables)

SHAREOWNERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Stockholders Equity	The following is a rollforward of our common stock, additional paid-in capital, retained earnings and non-controlling minority interests accounts for the years ended December 31, 2024, 2023 and 2022 (in millions, except per share amounts): 2024 2023 2022 Shares Dollars Shares Dollars Shares Dollars Class A Common Stock: Balance at beginning of year 127 $ 2 134 $ 2 138 $ 2 Stock award plans 2 — 5 — 5 — Common stock issuances 3 — 2 — 3 — Conversions of class A to class B common stock (11) — (14) — (12) — Class A shares issued at end of year 121 $ 2 127 $ 2 134 $ 2 Class B Common Stock: Balance at beginning of year 726 $ 7 725 $ 7 732 $ 7 Common stock purchases (4) — (13) — (19) — Conversions of class A to class B common stock 11 — 14 — 12 — Class B shares issued at end of year 733 $ 7 726 $ 7 725 $ 7 Additional Paid-In Capital: Balance at beginning of year $ — $ — $ 1,343 Stock award plans (77) 425 624 Common stock purchases (212) (882) (2,462) Common stock issuances 425 467 495 Other (1) — (10) — Balance at end of year $ 136 $ — $ — Retained Earnings: Balance at beginning of year $ 21,055 $ 21,326 $ 16,179 Net income attributable to controlling interests 5,782 6,708 11,548 Dividends ($6.52, $6.48 and $6.08 per share) (2) (5,594) (5,611) (5,363) Common stock purchases (288) (1,368) (1,038) Other (3) (73) — — Balance at end of year $ 20,882 $ 21,055 $ 21,326 Non-Controlling Interests: Balance at beginning of year $ 8 $ 17 $ 16 Change in non-controlling interests 17 (9) 1 Balance at end of year $ 25 $ 8 $ 17 (1) Includes a 1% excise tax applicable to share repurchases. (2) The dividend per share amount is the same for both class A and class B common stock. Dividends include $195, $239 and $249 million for 2024, 2023 and 2022, respectively, that were settled in shares of class A common stock. (3) Includes adjustments related to certain stock-based awards.
Schedule of Accumulated Other Comprehensive Income (Loss)	The activity in accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): 2024 2023 2022 Foreign Currency Translation Gain (Loss), Net of Tax: Balance at beginning of year $ (1,248) $ (1,446) $ (1,162) Translation adjustment (net of tax effect of $(7), $(15) and $(17)) (338) 190 (315) Reclassification to earnings (net of tax effect of $0, $0 and $2) — 8 31 Balance at end of year $ (1,586) $ (1,248) $ (1,446) Unrealized Gain (Loss) on Marketable Securities, Net of Tax: Balance at beginning of year $ (2) $ (11) $ (1) Current period changes in fair value (net of tax effect of $0, $2 and $(3)) 1 7 (12) Reclassification to earnings (net of tax effect of $0, $1 and $1) — 2 2 Balance at end of year $ (1) $ (2) $ (11) Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax: Balance at beginning of year $ (76) $ 167 $ (17) Current period changes in fair value (net of tax effect of $93, $(28) and $128) 296 (89) 407 Reclassification to earnings (net of tax effect of $(41), $(48) and $(70)) (129) (154) (223) Balance at end of year $ 91 $ (76) $ 167 Unrecognized Pension and Postretirement Benefit Costs, Net of Tax: Balance at beginning of year $ (2,432) $ (259) $ (2,098) Net actuarial gain (loss) and prior service cost resulting from remeasurements of plan assets and liabilities (net of tax effect of $(315), $(793) and $810) (1,005) (2,530) 2,576 Reclassification to earnings (net of tax effect of $195, $111 and $(230)) 624 357 (737) Balance at end of year $ (2,813) $ (2,432) $ (259) Accumulated other comprehensive income (loss) at end of year $ (4,309) $ (3,758) $ (1,549)
Schedule of Reclassification out of Accumulated Other Comprehensive Income	Detail of the gains (losses) reclassified from accumulated other comprehensive income (loss) to the statements of consolidated income for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): Amount Reclassified from AOCI Affected Line Item in the Income Statement 2024 2023 2022 Unrealized Gain (Loss) on Foreign Currency Translation: Realized gain (loss) on business wind-down $ — $ (8) $ (33) Other expenses Income tax (expense) benefit — — 2 Income tax expense Impact on net income $ — $ (8) $ (31) Net income Unrealized Gain (Loss) on Marketable Securities: Realized gain (loss) on sale of securities $ — $ (3) $ (3) Investment income (expense) and other Income tax (expense) benefit — 1 1 Income tax expense Impact on net income $ — $ (2) $ (2) Net income Unrealized Gain (Loss) on Cash Flow Hedges: Interest rate contracts $ (5) $ (10) $ (10) Interest expense Foreign currency exchange contracts 176 213 304 Revenue Foreign currency exchange contracts (1) (1) (1) Investment income (expense) and other Income tax (expense) benefit (41) (48) (70) Income tax expense Impact on net income $ 129 $ 154 $ 223 Net income Unrecognized Pension and Postretirement Benefit Costs: Prior service costs $ (154) $ (109) $ (94) Investment income (expense) and other Remeasurement of benefit obligation (665) (351) 1,027 Investment income (expense) and other Curtailments and settlements of benefit obligations — (8) 34 Investment income (expense) and other Income tax (expense) benefit 195 111 (230) Income tax expense Impact on net income $ (624) $ (357) $ 737 Net income Total amount reclassified for the year $ (495) $ (213) $ 927 Net income
Activity in Deferred Compensation Program	Activity in the deferred compensation program for the years ended December 31, 2024, 2023 and 2022 was as follows (in millions): 2024 2023 2022 Shares Dollars Shares Dollars Shares Dollars Deferred Compensation Obligations: Balance at beginning of year $ 9 $ 13 $ 16 Reinvested dividends 1 — 2 Benefit payments (3) (4) (5) Balance at end of year $ 7 $ 9 $ 13 Treasury Stock: Balance at beginning of year — $ (9) — $ (13) — $ (16) Reinvested dividends — (1) — — — (2) Benefit payments — 3 — 4 — 5 Balance at end of year — $ (7) — $ (9) — $ (13)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-based Payment Arrangement, Restricted Stock Unit, Activity	The following table shows the change in non-vested Restricted Units under our equity compensation programs other than the LTIP (defined below) in 2024: Restricted Units Weighted-Average Non-vested as of January 1, 2024 58 $ 176.68 Vested (83) 169.01 Granted 14 147.22 Reinvested dividends 41 N/A Forfeited / Expired (5) 154.27 Non-vested as of December 31, 2024 25 $ 177.76
Schedule of Share-based Payment Award, Performance Units, Valuation Assumptions	The weighted-average assumptions used in our Monte Carlo models for each award year were as follows: 2024 2023 2022 Risk-free interest rate 4.43 % 3.89 % 2.35 % Expected volatility 27.02 % 30.23 % 31.92 % Weighted-average fair value of units granted $ 156.73 $ 198.78 $ 227.00 Share payout 101.92 % 107.72 % 107.37 %
Share-Based Payment Arrangement, Performance Shares, Activity	The following table shows LTIP RPU activity during the year ended December 31, 2024: RPUs Weighted-Average Non-vested as of January 1, 2024 1,268 $ 210.04 Vested (296) 214.27 Granted 918 156.73 Reinvested dividends 90 N/A Performance adjustments (1) (320) 226.71 Forfeited / Expired (259) 184.89 Non-vested as of December 31, 2024 1,401 $ 174.12 (1) Represents the incremental performance adjustment to RPUs with a performance period ending in 2024, which vested during the year.
Share-based Payment Arrangement, Option, Activity	The following table provides an analysis of activity during 2024 relating to options to purchase shares of class A common stock: Options Weighted-Average Weighted-Average Remaining Aggregate Intrinsic Outstanding at January 1, 2024 1,382 $ 127.91 Exercised (34) 99.69 Granted 153 154.76 Forfeited / Expired (49) N/A Outstanding as of December 31, 2024 1,452 $ 130.08 5.08 $ 19 Options Vested and Expected to Vest 1,452 $ 130.08 5.08 $ 19 Exercisable as of December 31, 2024 1,128 $ 119.92 4.26 $ 18
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted-average assumptions used by year, and the calculated weighted-average fair values of options, are as follows: 2024 2023 2022 Expected dividend yield 3.96 % 3.54 % 2.35 % Risk-free interest rate 4.25 % 3.70 % 2.39 % Expected life in years 6.13 5.93 7.50 Expected volatility 28.94 % 28.31 % 25.04 % Weighted-average fair value of options granted $ 34.76 $ 41.08 $ 48.45

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Segments, Geographical Areas [Abstract]
Segment Information	Segment information for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): Year ended December 31, 2024 U.S. Domestic International Total Revenue $ 60,376 $ 17,960 $ 78,336 Reconciliation of revenue: Other revenues (2) 12,734 Total consolidated $ 91,070 Less: Compensation and benefits 3,783 Compensation 20,839 Benefits 16,862 Purchased transportation 2,466 3,447 Other segment items (1) 15,864 7,539 Segment Operating profit/(loss) $ 4,345 $ 3,191 $ 7,536 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 932 Other pension income (expense) (396) Investment income (expense) and other 236 Interest expense (866) Income Before Income Taxes $ 7,442 Other Segment Disclosures: Segment assets $ 38,657 $ 18,300 $ 56,957 Other assets (2) 9,850 Unallocated assets 3,263 Consolidated Assets $ 70,070 Depreciation and amortization (3) $ 2,470 $ 777 $ 3,247 Other depreciation and amortization (2) 362 Consolidated Depreciation and Amortization $ 3,609 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above. Year ended December 31, 2023 U.S. Domestic International Total Revenue $ 60,205 $ 17,831 $ 78,036 Reconciliation of revenue: Other revenues (2) 12,922 Total consolidated $ 90,958 Less: Compensation and benefits 3,794 Compensation 19,818 Benefits 16,859 Purchased transportation 2,555 3,391 Other segment items (1) 15,817 7,415 Segment Operating profit/(loss) $ 5,156 $ 3,231 $ 8,387 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 754 Other pension income (expense) (95) Investment income (expense) and other 314 Interest expense (787) Income Before Income Taxes $ 8,573 Other Segment Disclosures: Segment assets $ 38,368 $ 17,587 $ 55,955 Other assets (2) 11,245 Unallocated assets 3,657 Consolidated Assets $ 70,857 Depreciation and amortization (3) $ 2,290 $ 742 $ 3,032 Other depreciation and amortization (2) 334 Consolidated Depreciation and Amortization $ 3,366 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above. Year ended December 31, 2022 U.S. Domestic International Total Revenue $ 64,611 $ 19,698 $ 84,309 Reconciliation of revenue: Other revenues (2) 16,029 Total consolidated $ 100,338 Less: Compensation and benefits 3,890 Compensation 20,488 Benefits 16,603 Purchased transportation 3,333 3,773 Other segment items (1) 17,036 7,709 Segment Operating profit/(loss) $ 7,151 $ 4,326 $ 11,477 Reconciliation of segment operating profit to income before income taxes: Other profit/(loss) (2) $ 1,617 Other pension income (expense) 2,251 Investment income (expense) and other 184 Interest expense (704) Income Before Income Taxes $ 14,825 Other Segment Disclosures: Segment assets $ 38,303 $ 17,670 $ 55,973 Other assets (2) 10,407 Unallocated assets 4,744 Consolidated Assets $ 71,124 Depreciation and amortization (3) $ 2,173 $ 761 $ 2,934 Other depreciation and amortization (2) 254 Consolidated Depreciation and Amortization $ 3,188 (1) Other segment items for each reportable segment include repairs and maintenance, depreciation and amortization, fuel, other occupancy, allocated costs for our air network, information service, and general and administrative service expenses. (2) Revenue, Operating profit/(loss), Assets, and Depreciation and Amortization from segments below the quantitative thresholds are attributable to operating segments which provide supply chain solutions. These operating segments include our Forwarding, Logistics, Digital, and Other businesses. (3) The amounts of depreciation and amortization disclosed by reportable segment are included within the other segment items captions. These totals are presented after applying activity based costing methods to allocate expenses between segments as noted above.
Schedule of Revenue and Long-Lived Assets by Geographical Areas	Geographic information for the years ended December 31, 2024, 2023 and 2022 is as follows (in millions): 2024 2023 2022 United States: Revenue $ 70,389 $ 71,749 $ 78,110 Long-lived assets $ 33,173 $ 33,301 $ 32,002 International: Revenue $ 20,681 $ 19,209 $ 22,228 Long-lived assets $ 13,304 $ 13,687 $ 12,991 Consolidated: Revenue $ 91,070 $ 90,958 $ 100,338 Long-lived assets $ 46,477 $ 46,988 $ 44,993

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Tax Expense Benefit	The income tax expense (benefit) for the years ended December 31, 2024, 2023 and 2022 consists of the following (in millions): 2024 2023 2022 Current: U.S. Federal $ 1,093 $ 1,012 $ 2,006 U.S. State and Local 172 195 273 Non-U.S. 410 459 467 Total Current 1,675 1,666 2,746 Deferred: U.S. Federal 38 150 296 U.S. State and Local (30) 20 136 Non-U.S. (23) 29 99 Total Deferred (15) 199 531 Total Income Tax Expense $ 1,660 $ 1,865 $ 3,277
Income Before Income Taxes	Income before income taxes includes the following components (in millions): 2024 2023 2022 United States $ 5,839 $ 6,246 $ 12,276 Non-U.S. 1,603 2,327 2,549 Total Income Before Income Taxes $ 7,442 $ 8,573 $ 14,825
Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate	A reconciliation of the statutory federal income tax rate to the effective income tax rate for the years ended 2024, 2023 and 2022 consists of the following: 2024 2023 2022 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % U.S. state and local income taxes (net of federal benefit) 1.8 1.9 2.0 Non-U.S. tax rate differential — (0.6) 0.1 FDII and GILTI, net (1) (1.2) (0.9) (0.7) U.S. federal tax credits (0.8) (0.7) (0.5) Goodwill and other asset impairments — 0.1 — Net uncertain tax positions 0.2 (0.5) 0.4 Other 1.3 1.5 (0.2) Effective income tax rate 22.3 % 21.8 % 22.1 % (1) Foreign-Derived Intangible Income ("FDII") and Global Intangible Low-Taxed Income ("GILTI")
Deferred Tax Liabilities and Assets	Deferred income tax assets and liabilities are comprised of the following as of December 31, 2024 and 2023 (in millions): 2024 2023 Fixed assets and capitalized software $ (5,914) $ (5,974) Operating lease right-of-use assets (943) (1,017) Other (612) (605) Deferred tax liabilities (7,469) (7,596) Pension and postretirement benefits 1,474 1,304 Loss and credit carryforwards 308 232 Insurance reserves 646 626 Accrued employee compensation 352 354 Operating lease liabilities 1,021 1,073 Other 367 480 Deferred tax assets 4,168 4,069 Deferred tax assets valuation allowance (182) (119) Deferred tax asset (net of valuation allowance) 3,986 3,950 Net deferred tax asset (liability) $ (3,483) $ (3,646) Amounts recognized in our consolidated balance sheets: Deferred tax assets $ 112 $ 126 Deferred tax liabilities (3,595) (3,772) Net deferred tax asset (liability) $ (3,483) $ (3,646)
U.S. State and Local Operating Loss and Credit Carryforwards	Further, we have U.S. state and local operating loss and credit carryforwards as follows (in millions): 2024 2023 U.S. state and local operating loss carryforwards $ 1,043 $ 762 U.S. state and local credit carryforwards $ 47 $ 48
Schedule of Unrecognized Tax Benefits Roll Forward	The following table summarizes the activity related to our uncertain tax positions (in millions): Tax Interest Penalties Balance as of January 1, 2022 $ 480 $ 78 $ 2 Additions for tax positions of the current year 56 — — Additions for tax positions of prior years 25 30 2 Reductions for tax positions of prior years for: Changes based on facts and circumstances (9) (1) — Settlements during the period (10) (1) — Lapses of applicable statute of limitations (9) (2) — Balance as of December 31, 2022 533 104 4 Additions for tax positions of the current year 26 — — Additions for tax positions of prior years 147 37 1 Reductions for tax positions of prior years for: Changes based on facts and circumstances (164) (24) (1) Settlements during the period (47) (9) — Lapses of applicable statute of limitations (3) — — Balance as of December 31, 2023 492 108 4 Additions for tax positions of the current year 33 — — Additions for tax positions of prior years 52 33 — Reductions for tax positions of prior years for: Changes based on facts and circumstances (81) (11) (1) Settlements during the period (33) (5) — Lapses of applicable statute of limitations (16) (3) — Balance as of December 31, 2024 $ 447 $ 122 $ 3

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts): 2024 2023 2022 Numerator: Net income attributable to common shareowners $ 5,782 $ 6,708 $ 11,548 Denominator: Weighted-average shares 854 855 868 Deferred compensation obligations — — — Vested portion of restricted shares 1 4 3 Denominator for basic earnings per share 855 859 871 Effect of Dilutive Securities: Restricted performance units and contingent shares (1) 1 1 3 Stock options — — 1 Denominator for diluted earnings per share 856 860 875 Basic Earnings Per Share $ 6.76 $ 7.81 $ 13.26 Diluted Earnings Per Share $ 6.75 $ 7.80 $ 13.20 (1) Contingent shares relate to MIP awards that may be settled in cash or Class A common stock at the employees' election - see note 13.

DERIVATIVE INSTRUMENTS AND RI_2

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amounts of Outstanding Derivative Positions	As of December 31, 2024 and 2023, the notional amounts of our outstanding derivative positions were as follows (in millions): 2024 2023 Currency hedges: Euro EUR 3,222 4,408 British Pound Sterling GBP 536 663 Canadian Dollar CAD 1,623 1,550 Hong Kong Dollar HKD 4,160 1,822 Chinese Renminbi CNH 6,065 —
Balance sheet location of derivative assets and liabilities and their related fair values	The following table indicates the location in our 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 our 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 our consolidated balance sheets had we elected to apply the right of offset as of December 31, 2024 and 2023 (in millions): Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Asset Derivatives Balance Sheet 2024 2023 2024 2023 Derivatives designated as hedges: Foreign currency exchange contracts Other current assets Level 2 $ 157 $ 95 $ 152 $ 73 Foreign currency exchange contracts Other non-current assets Level 2 134 63 131 19 Derivatives not designated as hedges: Foreign currency exchange contracts Other current assets Level 2 — — — — Total Asset Derivatives $ 291 $ 158 $ 283 $ 92 Fair Value Hierarchy Level Gross Amounts Presented in Consolidated Balance Sheets Net Amounts if Right of Offset had been Applied Liability Derivatives Balance Sheet 2024 2023 2024 2023 Derivatives designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 $ 5 $ 26 $ — $ 4 Foreign currency exchange contracts Other non-current liabilities Level 2 3 65 — 21 Derivatives not designated as hedges: Foreign currency exchange contracts Other current liabilities Level 2 — 1 — 1 Total Liability Derivatives $ 8 $ 92 $ — $ 26 The following table indicates the amounts that were recorded in our consolidated balance sheets related to cumulative basis adjustments for fair value hedges as of December 31, 2024 and 2023 (in millions): 2024 2023 Line Item in our Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedge Adjustments Long-term debt and finance leases $ 279 $ 4 $ 280 $ 4
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position	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 years ended December 31, 2024 and 2023 (in millions): 2024 2023 Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships Revenue Interest Expense Investment Income (Expense) and Other Revenue Interest Expense Investment Income (Expense) and Other Gain or (loss) on cash flow hedging relationships: Interest Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income — (5) — — (10) — Foreign Currency Exchange Contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive income 176 — (1) 213 — (1) 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 $ 176 $ (5) $ (1) $ 213 $ (10) $ (1)
Schedule of Derivative Instruments	The following table indicates the amount of gains and (losses) that have been recognized in AOCI for the years ended December 31, 2024 and 2023 for those derivatives designated as cash flow hedges (in millions): Derivative Instruments in Cash Flow Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Derivatives 2024 2023 Interest rate contracts $ — $ (1) Foreign currency exchange contracts 389 (116) Total $ 389 $ (117) The following table indicates the amount of gains and (losses) that have been recognized in AOCI within foreign currency translation adjustment for the years ended December 31, 2024 and 2023 for those instruments designated as net investment hedges (in millions): Non-derivative Instruments in Net Investment Hedging Relationships Amount of Gain (Loss) Recognized in AOCI on Debt 2024 2023 Foreign denominated debt $ 127 $ (119) Total $ 127 $ (119)
Amount and Location in the Income Statement for Derivatives Designated as Fair Value Hedges	Amounts recorded in the statements of consolidated income related to fair value changes and settlements of interest rate swaps and foreign currency forward contracts not designated as hedges for the years ended December 31, 2024 and 2023 (in millions) were as follows: Derivative Instruments Not Designated in Location of Gain Amount of Gain (Loss) Recognized in Income 2024 2023 Foreign currency exchange contracts Investment income (expense) and other $ (1) $ (7) Total $ (1) $ (7)

TRANSFORMATION STRATEGY COSTS (

TRANSFORMATION STRATEGY COSTS (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The table below presents transformation strategy costs for the years ended December 31, 2024, 2023 and 2022 (in millions): 2024 2023 2022 Compensation and benefits $ 213 $ 337 $ 46 Total other expenses 109 98 132 Total Transformation Strategy Costs $ 322 $ 435 $ 178 Income Tax Benefit from Transformation Strategy Costs (77) (102) (36) After-Tax Transformation Strategy Costs $ 245 $ 333 $ 142 Transformation strategy costs during the periods presented related to our Transformation 2.0, Fit to Serve and Network reconfiguration and Efficiency Reimagined programs. Total costs by program are shown in the table below for the years ended December 31, 2024, 2023 and 2022 (in millions): 2024 2023 2022 Transformation Strategy Costs: Transformation 1.0 $ — $ 13 $ 50 Transformation 2.0 Spans and layers — 86 4 Business portfolio review 29 84 80 Financial systems 54 36 33 Other initiatives — 4 11 Transformation 2.0 total 83 210 128 Fit to Serve 204 212 — Network Reconfiguration and Efficiency Reimagined 35 — — Total Transformation Strategy Costs $ 322 $ 435 $ 178

SUMMARY OF ACCOUNTING POLICIE_3

SUMMARY OF ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Purchased transportation		$ (13,589)	$ (13,640)	$ (17,666)
Other expenses		(7,888)	(8,097)	(7,920)
Repairs and maintenance		2,940	2,828	2,884
Restricted cash		0	37
Inventories		826	935
Capitalized interest		121	118
Supplier finance program, obligation, sold to financial institutions		$ 515	$ 504	806
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]		Accounts payable	Accounts payable
Payments for workers' compensation liability		$ 114	$ 151
Self insurance reserve		114	153
Gain (loss) on self insurance reserves			2
Net currency transaction gains and (losses), pre-tax		(38)	(53)	72
Obligation, sold		$ 515	504
Revision of Prior Period, Reclassification, Adjustment
Significant Accounting Policies [Line Items]
Purchased transportation			11	9
Other expenses			$ (7)	$ (5)
ITALY
Significant Accounting Policies [Line Items]
Miscellaneous taxes	$ 94
Ratably Vesting Awards
Significant Accounting Policies [Line Items]
Employee share-based awards, vesting period		5 years
Minimum | Cliff Vesting Awards
Significant Accounting Policies [Line Items]
Employee share-based awards, vesting period		1 year
Minimum | Other Intangible Assets
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, estimated useful lives range, minimum		2 years
Minimum | Capitalized software
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, estimated useful lives range, minimum		7 years
Minimum | Aircraft
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		7 years
Minimum | Buildings
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		10 years
Minimum | Plant equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		3 years
Minimum | Technology equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		3 years
Minimum | Vehicles
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		5 years
Maximum | Cliff Vesting Awards
Significant Accounting Policies [Line Items]
Employee share-based awards, vesting period		3 years
Maximum | Other Intangible Assets
Significant Accounting Policies [Line Items]
Finite-lived intangible assets, estimated useful lives range, minimum		21 years
Maximum | Aircraft
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		40 years
Maximum | Buildings
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		40 years
Maximum | Plant equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		20 years
Maximum | Technology equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		10 years
Maximum | Vehicles
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives range		15 years

SUMMARY OF ACCOUNTING POLICIE_4

SUMMARY OF ACCOUNTING POLICIES - Rollforward of Outstanding Supplier Finance Program Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding at the beginning of the year	$ 504	$ 806
Invoices confirmed during the year	1,722	2,428
Confirmed invoices paid during the year	(1,711)	(2,730)
Confirmed obligations outstanding at the end of the year	$ 515	$ 504

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue
Revenue	$ 91,070	$ 90,958	$ 100,338
U.S. Domestic Package
Disaggregation of Revenue
Revenue	60,376	60,205	64,611
U.S. Domestic Package | Next Day Air
Disaggregation of Revenue
Revenue	9,703	9,894	10,699
U.S. Domestic Package | Deferred
Disaggregation of Revenue
Revenue	4,757	5,093	5,968
U.S. Domestic Package | Ground
Disaggregation of Revenue
Revenue	45,347	44,971	47,542
U.S. Domestic Package | Cargo & Other
Disaggregation of Revenue
Revenue	569	247	402
International Package
Disaggregation of Revenue
Revenue	17,960	17,831	19,698
International Package | Domestic
Disaggregation of Revenue
Revenue	3,186	3,144	3,346
International Package | Export
Disaggregation of Revenue
Revenue	14,142	14,003	15,341
International Package | Cargo & Other
Disaggregation of Revenue
Revenue	632	684	1,011
Supply Chain  Solutions
Disaggregation of Revenue
Revenue	12,734	12,922	16,029
Supply Chain  Solutions | Forwarding
Disaggregation of Revenue
Revenue	4,728	5,534	8,943
Supply Chain  Solutions | Logistics
Disaggregation of Revenue
Revenue	6,437	5,927	5,351
Supply Chain  Solutions | Other
Disaggregation of Revenue
Revenue	$ 1,569	$ 1,461	$ 1,735

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Increase in allowance for expected credit losses	$ 10
Allowance for doubtful account	136	$ 126
Provisions for doubtful receivables	$ 311	$ 205

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Contract Assets:
Revenue related to in-transit packages	$ 307	$ 237
Contract Liabilities:
Short-term advance payments from customers	13	20
Long-term advance payments from customers	$ 27	$ 25

MARKETABLE SECURITIES AND NON_3

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS - Summary of Marketable Securities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Trading Marketable Securities
Cost	$ 3	$ 4
Estimated Fair Value	3	4
Available-for-Sale Marketable Securities
Cost	204	2,864
Estimated Fair Value	203	2,862
Current Marketable Securities
Cost	207	2,868
Unrealized Gains	0	6
Unrealized Losses	(1)	(8)
Estimated Fair Value	206	2,866
Equity securities
Trading Marketable Securities
Cost	3	4
Estimated Fair Value	3	4
U.S. government and agency debt securities
Available-for-Sale Marketable Securities
Cost	165	963
Estimated Fair Value	164	961
Current Marketable Securities
Unrealized Gains	0	2
Unrealized Losses	(1)	(4)
Mortgage and asset-backed debt securities
Available-for-Sale Marketable Securities
Cost	0	3
Estimated Fair Value	0	3
Current Marketable Securities
Unrealized Gains	0	0
Unrealized Losses	0	0
Corporate debt securities
Available-for-Sale Marketable Securities
Cost	39	1,891
Estimated Fair Value	39	1,891
Current Marketable Securities
Unrealized Gains	0	4
Unrealized Losses	0	(4)
Non-U.S. government debt securities
Available-for-Sale Marketable Securities
Cost	0	7
Estimated Fair Value	0	7
Current Marketable Securities
Unrealized Gains	0	0
Unrealized Losses	$ 0	$ 0

MARKETABLE SECURITIES AND NON_4

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gain (Loss) on Securities [Line Items]
Marketable securities pledged as collateral	$ 177	$ 343
Gross realized gains on sales of marketable securities	5	1	$ 0
Gross realized losses on sales of marketable securities	5	4	$ 3
Equity method investments	304	295
Equity securities accounted for under measurement alternative	42	47
Variable Life Insurance Policy
Gain (Loss) on Securities [Line Items]
Investments and restricted cash	$ 19	$ 19

MARKETABLE SECURITIES AND NON_5

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS - Age of Gross Unrealized Losses and Fair Value by Investment Category (Details) $ in Millions	Dec. 31, 2024 USD ($)
Fair Value
Less Than 12 Months	$ 0
12 Months or More	162
Total	162
Unrealized Losses
Less Than 12 Months	0
12 Months or More	(1)
Total	(1)
U.S. government and agency debt securities
Fair Value
Less Than 12 Months	0
12 Months or More	162
Total	162
Unrealized Losses
Less Than 12 Months	0
12 Months or More	(1)
Total	$ (1)

MARKETABLE SECURITIES AND NON_6

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS - Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cost
Due in one year or less	$ 161
Due after one year through three years	43
Due after three years through five years	0
Due after five years	0
Marketable securities, debt maturities, amortized cost	204
Equity securities	3
Marketable securities, amortized cost	207
Estimated Fair Value
Due in one year or less	161
Due after one year through three years	42
Due after three years through five years	0
Due after five years	0
Marketable securities, debt maturities, fair value	203
Equity securities	3
Marketable securities	$ 206	$ 2,866

MARKETABLE SECURITIES AND NON_7

MARKETABLE SECURITIES AND NON-CURRENT INVESTMENTS - Investments Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 225	$ 2,885
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	206	2,866
Marketable securities | U.S. government and agency debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	164	961
Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3
Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	39	1,891
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
Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3	4
Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	7
Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	19	19
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	189	961
Level 1 | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	189	961
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	164	961
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
Level 1 | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	25	0
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
Level 1 | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
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
Level 1 | Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	36	1,924
Level 2 | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	17	1,905
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
Level 2 | Marketable securities | Mortgage and asset-backed debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3
Level 2 | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	14	1,891
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	0	0
Level 2 | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	3	4
Level 2 | Marketable securities | Non-U.S. government debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	7
Level 2 | Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	19	19
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Level 3 | Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
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
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
Level 3 | Marketable securities | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
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
Level 3 | Marketable securities | Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
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
Level 3 | Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 73,296	$ 71,515
Less: Accumulated depreciation and amortization	(36,117)	(34,570)
Property, plant and equipment, net	37,179	36,945
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,912	11,768
Aircraft
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	23,768	22,888
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,104	2,138
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,714	6,255
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,601	5,241
Plant equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	18,495	17,322
Technology equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,735	2,656
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,967	$ 3,247

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, plant and equipment purchased on account	$ 227	$ 309
Tangible asset impairment charges	$ 0	$ 0

COMPANY-SPONSORED EMPLOYEE BE_3

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Curtailments and settlements of benefit obligations				$ 34,000,000
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement and Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]				Investment income (expense) and other
Curtailment of benefit obligation, after tax				$ 24,000,000
Health care cost trends, initial annual rate increase		7.50%
Health care cost trends, an ultimate trend rate		4.50%
Employer contributions		$ 1,524,000,000	$ 1,393,000,000	$ 2,342,000,000
Actuarial gain (loss)		2,500,000,000	(2,400,000,000)
Defined benefit plan, actuarial gain (loss), discount rates		$ 2,800,000,000	$ (2,300,000,000)
Service cost discount rate		5.85%	5.40%	5.77%
Defined benefit plan, actuarial loss, demographic and assumption changes		$ 300,000,000	$ 100,000,000
Common stock held in plan assets (in shares)		0	0
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Unfunded commitments to limited partnerships		$ 0
Private Equity and Real Estate
Defined Benefit Plan Disclosure [Line Items]
Unfunded commitments to limited partnerships		2,700,000,000
Employee Defined Contribution Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions charged to expense		161,000,000	$ 161,000,000	$ 153,000,000
UPS 401(k) Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions charged to expense		359,000,000	380,000,000	83,000,000
Transition contributions		108,000,000	128,000,000	0
Defined Contribution Money Purchase Plans
Defined Benefit Plan Disclosure [Line Items]
Contributions charged to expense		135,000,000	132,000,000	$ 119,000,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for pension plans		48,000,000,000	49,200,000,000
Employer contributions		37,000,000	35,000,000
Postemployment Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for pension plans		1,900,000,000	2,000,000,000
Postretirement Medical Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions		$ 264,000,000	$ 51,000,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Postretirement medical plans service minimum eligibility year		10 years
Postretirement medical plans service minimum eligibility age		55 years
Duration for unfunded commitments to be contributed		3 years
Minimum | Private Equity and Real Estate
Defined Benefit Plan Disclosure [Line Items]
Redemption notice period, lower limit		10 years
Minimum | UPS 401(k) Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contribution, percent of eligible compensation		5%	3%
Minimum | UPS 401(k) Savings Plan | Subsequent Event
Defined Benefit Plan Disclosure [Line Items]
Employer contribution, percent of eligible compensation	3%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Duration for unfunded commitments to be contributed		6 years
Maximum | Private Equity and Real Estate
Defined Benefit Plan Disclosure [Line Items]
Redemption notice period, upper limit		15 years
Maximum | UPS 401(k) Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contribution, percent of eligible compensation		8%	8%

COMPANY-SPONSORED EMPLOYEE BE_4

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Net Periodic Benefit Cost for Company Sponsored Pension and Postretirement Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Periodic Benefit Cost:
Curtailment and settlement (gain) loss			$ (34)
Pension Benefits | United States
Net Periodic Benefit Cost:
Service cost	$ 1,240	$ 1,172	2,024
Interest cost	2,574	2,508	1,950
Expected return on plan assets	(3,085)	(2,967)	(3,280)
Amortization of prior service cost	152	106	93
Actuarial (gain) loss	673	393	(875)
Curtailment and settlement (gain) loss	0	0	0
Net periodic benefit cost	1,554	1,212	(88)
Pension Benefits | International Pension Benefits
Net Periodic Benefit Cost:
Service cost	42	43	68
Interest cost	66	66	45
Expected return on plan assets	(83)	(84)	(78)
Amortization of prior service cost	1	1	1
Actuarial (gain) loss	(8)	(42)	(152)
Curtailment and settlement (gain) loss	0	8	(34)
Net periodic benefit cost	18	(8)	(150)
Postemployment Retirement Benefits | United States
Net Periodic Benefit Cost:
Service cost	20	20	30
Interest cost	109	116	83
Expected return on plan assets	(4)	(12)	(4)
Amortization of prior service cost	1	2	0
Actuarial (gain) loss	0	0	0
Curtailment and settlement (gain) loss	0	0	0
Net periodic benefit cost	$ 126	$ 126	$ 109

COMPANY-SPONSORED EMPLOYEE BE_5

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Weighted Average Actuarial Assumptions Used to Determine the Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost discount rate	0.0542	0.0579	0.0313
Interest cost discount rate	0.0542	0.0579	0.0313
Rate of compensation increase	3.25%	3.25%	4.29%
Expected return on plan assets	7.17%	7.07%	5.90%
Cash balance interest credit rate	3.83%	4.21%	2.50%
Pension Benefits | International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost discount rate	0.0459	0.0509	0.0278
Interest cost discount rate	0.0456	0.0502	0.0274
Rate of compensation increase	3.19%	3.20%	3.17%
Expected return on plan assets	4.54%	5.13%	3.87%
Cash balance interest credit rate	3.31%	3.69%	2.94%
Postemployment Retirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost discount rate	0.0580	0.0606	0.0328
Interest cost discount rate	0.0580	0.0606	0.0328
Expected return on plan assets	6.36%	6.62%	4.77%

COMPANY-SPONSORED EMPLOYEE BE_6

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Weighted Average Actuarial Assumptions Used to Determine the Benefit Obligations (Details)	Dec. 31, 2023	Dec. 31, 2022
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.45%	4.21%
Rate of compensation increase	3.04%	3.19%
Cash balance interest credit rate	3.09%	3.31%
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.88%	5.42%
Rate of compensation increase	3.25%	3.25%
Cash balance interest credit rate	4.30%	3.83%
Postemployment Retirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Discount rate	6.18%	5.80%

COMPANY-SPONSORED EMPLOYEE BE_7

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Effects of One Basis Point Change on Projected Benefit Obligation (Details) - United States $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
One basis point increase in discount rate	$ (57)
One basis point decrease in discount rate	60
Postemployment Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
One basis point increase in discount rate	(1)
One basis point decrease in discount rate	$ 1

COMPANY-SPONSORED EMPLOYEE BE_8

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Funded Status as of the Respective Measurement Dates in Each Year and the Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Funded Status:
Fair value of plan assets	$ 43,396	$ 45,482
Funded Status Amounts Recognized in our Balance Sheet:
Pension and postretirement benefit obligations	(6,859)	(6,159)
United States
Funded Status:
Fair value of plan assets	41,618	43,589
International Pension Benefits
Funded Status:
Fair value of plan assets	1,778	1,893
Benefit obligation	(1,500)	(1,601)
Funded Status	278	292
Funded Status Amounts Recognized in our Balance Sheet:
Other non-current assets	480	510
Other current liabilities	(7)	(7)
Pension and postretirement benefit obligations	(195)	(211)
Net Liability	278	292
Amounts Recognized in AOCI
Unrecognized net prior service cost	(5)	(7)
Unrecognized net actuarial gain (loss)	107	99
Unrecognized net actuarial gain (loss)	102	92
Deferred tax asset	(32)	(28)
Net unrecognized cost	70	64
Pension Benefits | United States
Funded Status:
Fair value of plan assets	41,499	43,491	$ 42,058
Benefit obligation	(46,559)	(47,712)	(43,504)
Funded Status	(5,060)	(4,221)
Funded Status Amounts Recognized in our Balance Sheet:
Other non-current assets	0	0
Other current liabilities	(27)	(26)
Pension and postretirement benefit obligations	(5,033)	(4,195)
Net liability	(5,060)	(4,221)
Amounts Recognized in AOCI
Unrecognized net prior service cost	(1,251)	(1,326)
Unrecognized net actuarial gain (loss)	(2,686)	(2,097)
Unrecognized net actuarial gain (loss)	(3,937)	(3,423)
Deferred tax asset	956	831
Net unrecognized cost	(2,981)	(2,592)
Pension Benefits | International Pension Benefits
Funded Status:
Fair value of plan assets	1,778	1,893	1,643
Benefit obligation	(1,500)	(1,601)	(1,416)
Postemployment Retirement Benefits | United States
Funded Status:
Fair value of plan assets	119	98	215
Benefit obligation	(1,850)	(1,974)	$ (2,016)
Funded Status	(1,731)	(1,876)
Funded Status Amounts Recognized in our Balance Sheet:
Other non-current assets	0	0
Other current liabilities	(100)	(123)
Pension and postretirement benefit obligations	(1,631)	(1,753)
Net liability	(1,731)	(1,876)
Amounts Recognized in AOCI
Unrecognized net prior service cost	(1)	(2)
Unrecognized net actuarial gain (loss)	131	129
Unrecognized net actuarial gain (loss)	130	127
Deferred tax asset	(32)	(31)
Net unrecognized cost	$ 98	$ 96

COMPANY-SPONSORED EMPLOYEE BE_9

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets for Pension Plans With an Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
United States
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	$ 46,559	$ 47,712
Accumulated benefit obligation, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	46,526	47,674
Fair value of plan assets, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	41,499	43,491
Projected benefit obligation, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	46,559	47,712
Accumulated benefit obligation, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	46,526	47,674
Fair value of plan assets, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	41,499	43,491
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	337	345
Accumulated benefit obligation, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	301	304
Fair value of plan assets, Projected Benefit Obligation Exceeds the Fair Value of the Plan Assets	135	127
Projected benefit obligation, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	281	315
Accumulated benefit obligation, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	255	281
Fair value of plan assets, Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets	$ 88	$ 100

COMPANY-SPONSORED EMPLOYEE B_10

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Reconciliation of the Changes in the Plans' Benefit Obligations and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Benefit Obligations:
Actuarial (gain)/loss	$ (2,500)	$ 2,400
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	45,482
Fair value of plan assets at end of year	43,396	45,482
United States
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	43,589
Fair value of plan assets at end of year	41,618	43,589
International Pension Benefits
Benefit Obligations:
Projected benefit obligation at beginning of year	1,601
Projected benefit obligation at end of year	1,500	1,601
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	1,893
Fair value of plan assets at end of year	1,778	1,893
Pension Benefits | United States
Benefit Obligations:
Projected benefit obligation at beginning of year	47,712	43,504
Service cost	1,240	1,172	$ 2,024
Interest cost	2,574	2,508	1,950
Gross benefits paid	(2,604)	(2,437)
Plan participants’ contributions	0	0
Plan amendments	76	699
Actuarial (gain)/loss	(2,438)	2,266
Foreign currency exchange rate changes	0	0
Curtailments and settlements	0	0
Other	(1)	0
Projected benefit obligation at end of year	46,559	47,712	43,504
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	43,491	42,058
Actual return on plan assets	(615)	2,664
Employer contributions	1,228	1,206
Plan participants’ contributions	0	0
Gross benefits paid	(2,604)	(2,437)
Foreign currency exchange rate changes	0	0
Curtailments and settlements	0	0
Other	(1)	0
Fair value of plan assets at end of year	41,499	43,491	42,058
Pension Benefits | International Pension Benefits
Benefit Obligations:
Projected benefit obligation at beginning of year	1,601	1,416
Service cost	42	43	68
Interest cost	66	66	45
Gross benefits paid	(55)	(46)
Plan participants’ contributions	4	4
Plan amendments	0	0
Actuarial (gain)/loss	(58)	99
Foreign currency exchange rate changes	(99)	51
Curtailments and settlements	(4)	(38)
Other	3	6
Projected benefit obligation at end of year	1,500	1,601	1,416
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	1,893	1,643
Actual return on plan assets	41	201
Employer contributions	27	65
Plan participants’ contributions	4	4
Gross benefits paid	(55)	(46)
Foreign currency exchange rate changes	(118)	64
Curtailments and settlements	(4)	(38)
Other	(10)	0
Fair value of plan assets at end of year	1,778	1,893	1,643
Postemployment Retirement Benefits | United States
Benefit Obligations:
Projected benefit obligation at beginning of year	1,974	2,016
Service cost	20	20	30
Interest cost	109	116	83
Gross benefits paid	(284)	(265)
Plan participants’ contributions	39	34
Plan amendments	0	0
Actuarial (gain)/loss	(7)	53
Foreign currency exchange rate changes	0	0
Curtailments and settlements	0	0
Other	(1)	0
Projected benefit obligation at end of year	1,850	1,974	2,016
Fair Value of Plan Assets:
Fair value of plan assets at beginning of year	98	215
Actual return on plan assets	(2)	(8)
Employer contributions	269	122
Plan participants’ contributions	39	34
Gross benefits paid	(284)	(265)
Foreign currency exchange rate changes	0	0
Curtailments and settlements	0	0
Other	(1)	0
Fair value of plan assets at end of year	$ 119	$ 98	$ 215

COMPANY-SPONSORED EMPLOYEE B_11

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Fair Values of U.S. Pension and Postretirement Benefit Plan Assets by Asset Category as Well as the Percentage That Each Category Comprises of Total Plan Assets and the Respective Target Allocations (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 43,396	$ 45,482
Cash held as collateral	2,700
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22,250	22,479
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,941	13,022
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	62	80	$ 77
United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 41,618	$ 43,589
Percentage of Plan Assets	100%	100%
United States | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 5,716	$ 1,018
Percentage of Plan Assets	13.70%	2.30%
United States | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 6,979	$ 10,164
Percentage of Plan Assets	16.80%	23.30%
United States | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 19,643	$ 25,673
Percentage of Plan Assets	47.20%	58.90%
United States | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 11,216	$ 12,722
United States | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,034	$ 3,959
Percentage of Plan Assets	4.90%	9.10%
United States | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,674	$ 2,575
Percentage of Plan Assets	6.40%	5.90%
United States | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 6,508	$ 6,188
Percentage of Plan Assets	15.60%	14.20%
United States | Derivatives and Other Instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ (1,936)	$ (5,988)
United States | Equity risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ (392)	$ (136)
Percentage of Plan Assets	(0.90%)	(0.30%)
United States | Interest rate risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ (1,619)	$ (5,877)
Percentage of Plan Assets	(3.90%)	(13.50%)
United States | Other Risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 75	$ 25
Percentage of Plan Assets	0.20%	0.10%
United States | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 21,857	$ 22,070
United States | Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,450	894
United States | Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,270	3,448
United States | Level 1 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	13,375	17,299
United States | Level 1 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	301	421
United States | Level 1 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	28
United States | Level 1 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	301	393
United States | Level 1 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 1 | Derivatives and Other Instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(539)	8
United States | Level 1 | Equity risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(99)	29
United States | Level 1 | Interest rate risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(442)	(20)
United States | Level 1 | Other Risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2	(1)
United States | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9,634	11,658
United States | Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	266	124
United States | Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,709	6,716
United States | Level 2 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6,247	8,374
United States | Level 2 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	810	2,440
United States | Level 2 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	538	2,194
United States | Level 2 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	77	77
United States | Level 2 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	195	169
United States | Level 2 | Derivatives and Other Instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(1,398)	(5,996)
United States | Level 2 | Equity risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(294)	(165)
United States | Level 2 | Interest rate risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	(1,177)	(5,857)
United States | Level 2 | Other Risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	73	26
United States | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21	0
United States | Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21	0
United States | Level 3 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Derivatives and Other Instruments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Equity risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Interest rate risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
United States | Level 3 | Other Risk
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0
United States | Minimum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	1%	1%
United States | Minimum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	15%	15%
United States | Minimum | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	30%	30%
United States | Minimum | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	3%	3%
United States | Minimum | Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	3%	3%
United States | Minimum | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	5%	5%
United States | Maximum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	7%	7%
United States | Maximum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	45%	45%
United States | Maximum | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	73%	70%
United States | Maximum | Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	13%	13%
United States | Maximum | Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	15%	15%
United States | Maximum | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	29%	35%
International Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,778	$ 1,893
International Pension Benefits | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 127	$ 71
Percentage of Plan Assets	7.10%	3.80%
International Pension Benefits | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 165	$ 109
Percentage of Plan Assets	9.30%	5.80%
International Pension Benefits | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,202	$ 1,392
Percentage of Plan Assets	67.60%	73.50%
International Pension Benefits | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 1,893
International Pension Benefits | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 62	$ 66
Percentage of Plan Assets	3.50%	3.50%
International Pension Benefits | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 222	$ 255
Percentage of Plan Assets	12.50%	13.40%
International Pension Benefits | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,778
Percentage of Plan Assets	100%	100%
International Pension Benefits | Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 127	$ 77
International Pension Benefits | Level 1 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	23	20
International Pension Benefits | Level 1 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	243	312
International Pension Benefits | Level 1 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		409
International Pension Benefits | Level 1 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International Pension Benefits | Level 1 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International Pension Benefits | Level 1 | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	393
International Pension Benefits | Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	(6)
International Pension Benefits | Level 2 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	142	89
International Pension Benefits | Level 2 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	959	1,080
International Pension Benefits | Level 2 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		1,364
International Pension Benefits | Level 2 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17	18
International Pension Benefits | Level 2 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	189	183
International Pension Benefits | Level 2 | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,307
International Pension Benefits | Level 3 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International Pension Benefits | Level 3 | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International Pension Benefits | Level 3 | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
International Pension Benefits | Level 3 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		80
International Pension Benefits | Level 3 | Real estate
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	23	25
International Pension Benefits | Level 3 | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	18	$ 55
International Pension Benefits | Level 3 | Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 41
International Pension Benefits | Minimum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	1%	1%
International Pension Benefits | Minimum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	1%	1%
International Pension Benefits | Minimum | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	50%	50%
International Pension Benefits | Minimum | Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	1%	1%
International Pension Benefits | Minimum | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	10%	10%
International Pension Benefits | Maximum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	10%	10%
International Pension Benefits | Maximum | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	10%	10%
International Pension Benefits | Maximum | Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	75%	75%
International Pension Benefits | Maximum | Real estate
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	10%	10%
International Pension Benefits | Maximum | Private equity, private debt, and other investments
Defined Benefit Plan Disclosure [Line Items]
Percentage Target Allocation	35%	35%

COMPANY-SPONSORED EMPLOYEE B_12

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Fair Value Measurement of Plan Assets Using Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	$ 45,482
Actual Return on Assets:
Fair value of plan assets at end of year	43,396	$ 45,482
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	80	77
Actual Return on Assets:
Assets Held at End of Year	0	4
Assets Sold During the Year	(8)	2
Purchases	38	452
Sales	(38)	(455)
Transfers Into (Out of) Level 3	(10)	0
Fair value of plan assets at end of year	62	80
Level 3 | Corporate debt securities
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	0	0
Actual Return on Assets:
Assets Held at End of Year	(1)	0
Assets Sold During the Year	4	2
Purchases	38	450
Sales	(10)	(452)
Transfers Into (Out of) Level 3	(10)	0
Fair value of plan assets at end of year	21	0
Level 3 | Alternative and Other Investments
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	80	77
Actual Return on Assets:
Assets Held at End of Year	1	4
Assets Sold During the Year	(12)	0
Purchases	0	2
Sales	(28)	(3)
Transfers Into (Out of) Level 3	0	0
Fair value of plan assets at end of year	$ 41	$ 80

COMPANY-SPONSORED EMPLOYEE B_13

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS - Expected Cash Flows for Pension and Postretirement Benefit Plans (Details) $ in Millions	Dec. 31, 2024 USD ($)
Pension Benefits | United States
Expected Benefit Payments:
2025	$ 2,395
2026	2,529
2027	2,665
2028	2,800
2029	2,926
2030 - 2034	16,292
Pension Benefits | United States | Plan Trust
Employer Contributions:
2024	1,170
Pension Benefits | United States | Plan Participants
Employer Contributions:
2024	28
Pension Benefits | International Pension Benefits
Expected Benefit Payments:
2025	55
2026	61
2027	67
2028	74
2029	79
2030 - 2034	469
Pension Benefits | International Pension Benefits | Plan Trust
Employer Contributions:
2024	10
Pension Benefits | International Pension Benefits | Plan Participants
Employer Contributions:
2024	7
Postemployment Retirement Benefits | United States
Expected Benefit Payments:
2025	209
2026	199
2027	190
2028	179
2029	169
2030 - 2034	731
Postemployment Retirement Benefits | United States | Plan Trust
Employer Contributions:
2024	140
Postemployment Retirement Benefits | United States | Plan Participants
Employer Contributions:
2024	$ 93

MULTIEMPLOYER EMPLOYEE BENEFI_3

MULTIEMPLOYER EMPLOYEE BENEFIT PLANS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) employee	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Dec. 31, 2012 employee
Multiemployer Plans [Line Items]
Number of employees under a national master agreement and various supplemental agreements with local unions affiliated with Teamster	314,000
Number of employees under a collective bargaining agreement with the teamsters	10,000
Number of pilots under a collective bargaining agreement with the Independent Pilots Association	3,300
Ground mechanics employed under IAM agreements	1,900
Employees not employed under agreement with teamsters	3,000
Other current liabilities
Multiemployer Plans [Line Items]
Withdrawal liability | $	$ 19
Pension Benefits
Multiemployer Plans [Line Items]
Multiemployer pension plans, maximum term to forecast a funding deficiency in the orange zone	6 years
Multiemployer plans, period contributions, significance of contributions	5%	5%	5%
Debt instrument, term	38 years
Multi-employer plans, fair value of withdrawal liability | $	$ 651	$ 710
Pension Benefits | Other non-current liabilities
Multiemployer Plans [Line Items]
Multiemployer plans, present value of withdrawal liability | $	804	813
Pension Benefits | Other current liabilities
Multiemployer Plans [Line Items]
Multiemployer plans, present value of withdrawal liability | $	$ 9	$ 9
Red Zone, Less than 65% Funded | Maximum | Pension Benefits
Multiemployer Plans [Line Items]
Multiemployer pension plans, percentage of plan funded	65%
Otange Zone, Less than 80% and Have an Accumulated Funding Deficiency or Expect to Have a Deficiency Within Six Years | Pension Benefits
Multiemployer Plans [Line Items]
Multiemployer pension plans, percentage of plan funded	80%
Yellow Zone, Less than 80% Funded | Maximum | Pension Benefits
Multiemployer Plans [Line Items]
Multiemployer pension plans, percentage of plan funded	80%
Green Zone, At Least 80% Funded | Minimum | Pension Benefits
Multiemployer Plans [Line Items]
Multiemployer pension plans, percentage of plan funded	80%
Represented by Teamsters
Multiemployer Plans [Line Items]
Number of employees under a national master agreement and various supplemental agreements with local unions affiliated with Teamster				10,200

MULTIEMPLOYER EMPLOYEE BENEFI_4

MULTIEMPLOYER EMPLOYEE BENEFIT PLANS - UPS's Participation in Multiemployer Plans (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	$ 2,947	$ 2,953	$ 2,941
Alaska Teamster-Employer Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 11	$ 10	10
Surcharge Imposed	No
Central Pennsylvania Teamsters Defined Benefit Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 85	$ 82	75
Surcharge Imposed	No
Eastern Shore Teamsters Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 10	$ 10	10
Surcharge Imposed	No
Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 21	$ 21	21
Surcharge Imposed	No
Hagerstown Motor Carriers and Teamsters Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 13	$ 13	13
Surcharge Imposed	No
I.A.M. National Pension Fund / National Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 53	$ 50	48
Surcharge Imposed	No
International Brotherhood of Teamsters Union Local No. 710 Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 194	$ 196	191
Surcharge Imposed	No
Local 705, International Brotherhood of Teamsters Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 142	$ 138	136
Surcharge Imposed	No
Local 804 I.B.T. & Local 447 I.A.M.—UPS Multiemployer Retirement Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 139	$ 143	144
Surcharge Imposed	No
Milwaukee Drivers Pension Trust Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 62	$ 62	62
Surcharge Imposed	No
New England Teamsters & Trucking Industry Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 224	$ 234	167
Surcharge Imposed	No
New York State Teamsters Conference Pension and Retirement Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 136	$ 139	149
Surcharge Imposed	No
Teamster Pension Fund of Philadelphia and Vicinity
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 98	$ 98	100
Surcharge Imposed	No
Teamsters Joint Council No. 83 of Virginia Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 98	$ 98	98
Surcharge Imposed	No
Teamsters Local 639—Employers Pension Trust
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 83	$ 84	85
Surcharge Imposed	No
Teamsters Negotiated Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 47	$ 49	49
Surcharge Imposed	No
Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 28	$ 28	30
Surcharge Imposed	No
United Parcel Service, Inc.—Local 177, I.B.T. Multiemployer Retirement Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 111	$ 122	124
Surcharge Imposed	No
Western Conference of Teamsters Pension Plan
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Green	Green
FIP / RP Status Pending / Implemented	NA
UPS Contributions and Accruals	$ 1,255	$ 1,254	1,310
Surcharge Imposed	No
Western Pennsylvania Teamsters and Employers Pension Fund
Multiemployer Plans [Line Items]
Pension Protection Act Zone Status	Red	Red
FIP / RP Status Pending / Implemented	Implemented
UPS Contributions and Accruals	$ 45	$ 46	46
Surcharge Imposed	No
All Other Multiemployer Pension Plans
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	$ 92	$ 76	$ 73

MULTIEMPLOYER EMPLOYEE BENEFI_5

MULTIEMPLOYER EMPLOYEE BENEFIT PLANS - Multi-Employer Health and Welfare Plans (Details) - Health and Welfare Fund - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	$ 6,431	$ 6,268	$ 6,033
Bay Area Delivery Drivers
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	41	40	40
Central Pennsylvania Teamsters Health & Pension Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	48	46	42
Central States, South East & South West Areas Health and Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	3,849	3,712	3,497
Delta Health Systems—East Bay Drayage Drivers
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	37	39	39
Joint Council #83 Health & Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	63	63	62
Local 401 Teamsters Health & Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	24	23	22
Local 804 Welfare Trust Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	131	131	129
Milwaukee Drivers Pension Trust Fund—Milwaukee Drivers Health and Welfare Trust Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	64	64	62
New York State Teamsters Health & Hospital Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	89	87	89
Northern California General Teamsters (DELTA)
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	202	206	211
Northern New England Benefit Trust
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	82	83	87
Oregon / Teamster Employers Trust
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	68	69	70
Teamsters 170 Health & Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	22	21	25
Teamsters Benefit Trust
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	59	57	58
Teamsters Local 175 & 505 Health and Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	20	20	20
Teamsters Local 191 Health Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	30	29	17
Teamsters Local 251 Health & Insurance Plan
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	22	22	26
Teamsters Local 638 Health Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	74	73	70
Teamsters Local 639—Employers Health & Pension Trust Funds
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	35	36	38
Teamsters Local 671 Health Services & Insurance Plan
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	24	24	25
Teamsters Union 25 Health Services & Insurance Plan
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	73	73	75
Teamsters Western Region & Local 177 Health Care Plan
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	1,109	1,076	1,035
Truck Drivers and Helpers Local 355 Baltimore Area Health & Welfare Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	21	23	23
Utah-Idaho Teamsters Security Fund
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	53	54	54
Washington Teamsters Welfare Trust
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	83	88	88
All Other Multiemployer Health and Welfare Plans
Multiemployer Plans [Line Items]
UPS Contributions and Accruals	$ 108	$ 109	$ 129

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Allocation of Goodwill by Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Balance at beginning of year	$ 4,872	$ 4,223
Acquired	4	727
Impairments	0	(125)	$ 0
Divestiture	(495)
Currency / Other	(81)	47
Balance at end of year	4,300	4,872	4,223
U.S. Domestic Package
Goodwill [Roll Forward]
Balance at beginning of year	847	847
Acquired	0	0
Impairments		0
Divestiture	0
Currency / Other	0	0
Balance at end of year	847	847	847
International Package
Goodwill [Roll Forward]
Balance at beginning of year	503	492
Acquired	0	4
Impairments		0
Divestiture	0
Currency / Other	(16)	7
Balance at end of year	487	503	492
Supply Chain  Solutions
Goodwill [Roll Forward]
Balance at beginning of year	3,522	2,884
Acquired	4	723
Impairments		(125)
Divestiture	(495)
Currency / Other	(65)	40
Balance at end of year	$ 2,966	$ 3,522	$ 2,884

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2024
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge	$ 0	$ 125,000,000	$ 0
Goodwill	4,300,000,000	4,872,000,000	4,223,000,000	$ 4,300,000,000
Indefinite-lived intangible assets	$ 4,000,000	93,000,000
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other expenses
Impairment of intangible assets, finite-lived	$ 71,000,000	8,000,000	17,000,000
Amortization of intangible assets	648,000,000	597,000,000	525,000,000
Expected amortization of finite-lived intangible assets for the year 2025	633,000,000
Expected amortization of finite-lived intangible assets for the year 2026	556,000,000
Expected amortization of finite-lived intangible assets for the year 2027	479,000,000
Expected amortization of finite-lived intangible assets for the year 2028	398,000,000
Expected amortization of finite-lived intangible assets for the year 2029	$ 296,000,000
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other expenses
Trade name
Goodwill and Intangible Assets Disclosure [Line Items]
Impairment of intangible assets, indefinite-lived	$ 0	111,000,000
Supply Chain  Solutions
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		125,000,000
Goodwill	2,966,000,000	3,522,000,000	2,884,000,000
U.S. Domestic Package
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		0
Goodwill	847,000,000	847,000,000	847,000,000
International Package
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		0
Goodwill	487,000,000	503,000,000	$ 492,000,000
Operating Segments | Supply Chain  Solutions
Goodwill and Intangible Assets Disclosure [Line Items]
Cumulative impairment loss	1,200,000,000
Operating Segments | U.S. Domestic Package
Goodwill and Intangible Assets Disclosure [Line Items]
Cumulative impairment loss	0
Operating Segments | International Package
Goodwill and Intangible Assets Disclosure [Line Items]
Cumulative impairment loss	$ 0
Roadie
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		56,000,000
Delivery Solutions
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		$ 61,000,000
Global Freight Forwarding, Roadie and Global Logistics and Distribution Reporting Units
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill				$ 1,100,000,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 7,621	$ 7,767
Accumulated Amortization	(4,561)	(4,555)
Net Carrying Value	$ 3,060	3,212
Weighted-Average Amortization Period (in years)	8 years 2 months 12 days
Indefinite-lived intangible assets	$ 4	93
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Indefinite-lived intangible assets	4	93
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	7,625	7,860
Accumulated Amortization	(4,561)	(4,555)
Intangible Assets, Net	3,064	3,305
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,088	5,839
Accumulated Amortization	(4,159)	(3,900)
Net Carrying Value	$ 1,929	1,939
Weighted-Average Amortization Period (in years)	6 years 10 months 24 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (4,159)	(3,900)
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	30	30
Accumulated Amortization	(12)	(7)
Net Carrying Value	$ 18	23
Weighted-Average Amortization Period (in years)	4 years 1 month 6 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (12)	(7)
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	348	291
Accumulated Amortization	(55)	(49)
Net Carrying Value	$ 293	242
Weighted-Average Amortization Period (in years)	20 years
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (55)	(49)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	677	1,115
Accumulated Amortization	(206)	(516)
Net Carrying Value	$ 471	599
Weighted-Average Amortization Period (in years)	13 years 7 months 6 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (206)	(516)
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	109	172
Accumulated Amortization	(26)	(30)
Net Carrying Value	$ 83	142
Weighted-Average Amortization Period (in years)	10 years 2 months 12 days
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (26)	(30)
Trademarks, patents and other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	369	320
Accumulated Amortization	(103)	(53)
Net Carrying Value	$ 266	267
Weighted-Average Amortization Period (in years)	7 years 6 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (103)	$ (53)

ACQUISITIONS & DISPOSITIONS - A

ACQUISITIONS & DISPOSITIONS - Additional Information (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Sep. 16, 2024	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2024
Business Acquisition [Line Items]
Consideration transferred			$ 71
Acquisitions, net of cash acquired			71	$ 1,329	$ 755
Goodwill			$ 4,300	4,872	4,223	$ 4,300
Acquired finite-lived intangible assets, useful life			8 years 2 months 12 days
Franchise rights
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life			20 years
Trade name
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life			10 years 2 months 12 days
Supply Chain  Solutions
Business Acquisition [Line Items]
Goodwill			$ 2,966	3,522	2,884
International Package
Business Acquisition [Line Items]
Goodwill			$ 487	503	492
Immaterial Business Acquisitions
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				1,300	755
Goodwill				739	581
Intangible assets acquired				554	381
Immaterial Business Acquisitions | Other Expense
Business Acquisition [Line Items]
Acquisition related costs				12	25
Immaterial Business Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired				$ 253	$ 177
Acquired finite-lived intangible assets, useful life				15 years	15 years
Immaterial Business Acquisitions | Franchise rights
Business Acquisition [Line Items]
Intangible assets acquired				$ 64	$ 113
Acquired finite-lived intangible assets, useful life				20 years	20 years
Immaterial Business Acquisitions | Technology
Business Acquisition [Line Items]
Intangible assets acquired				$ 165	$ 14
Acquired finite-lived intangible assets, useful life				11 years	6 years
Immaterial Business Acquisitions | Trade name
Business Acquisition [Line Items]
Intangible assets acquired				$ 45	$ 70
Acquired finite-lived intangible assets, useful life				9 years	5 years
Immaterial Business Acquisitions | Other Intangible Assets
Business Acquisition [Line Items]
Intangible assets acquired				$ 27	$ 7
Acquired finite-lived intangible assets, useful life				3 years	5 years
Immaterial Business Acquisitions | Supply Chain  Solutions
Business Acquisition [Line Items]
Goodwill				$ 735	$ 476
Immaterial Business Acquisitions | International Package
Business Acquisition [Line Items]
Goodwill				$ 4	$ 105
Frigo-Trans and Biotech & Pharma Logistics | Subsequent Event
Business Acquisition [Line Items]
Consideration		$ 440
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Coyote
Business Acquisition [Line Items]
Proceeds from divestiture of operations	$ 1,002
Gain on disposition of business	156
Gain on disposal of business (net of tax)	$ 152

ACQUISITIONS & DISPOSITIONS - S

ACQUISITIONS & DISPOSITIONS - Schedule of Assets and Liabilities Disposed Of (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Coyote $ in Millions	Sep. 16, 2024 USD ($)
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Cash and cash equivalents	$ 20
Accounts receivable	405
Other current assets	34
Operating lease right-of-use assets	69
Goodwill	495
Intangible assets, net	195
Other non-current assets	18
Total assets divested	1,236
Liabilities:
Accounts payable	216
Other current liabilities	54
Non-current operating leases	68
Other non-current liabilities	38
Total liabilities divested	376
Net assets divested	$ 860

ACQUISITIONS & DISPOSITIONS - F

ACQUISITIONS & DISPOSITIONS - Fair Value of Assets and Liabilities Acquired (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jul. 01, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 4,300	$ 4,300	$ 4,872	$ 4,223
Immaterial Business Acquisitions
Business Acquisition [Line Items]
Cash and cash equivalents			18	29
Accounts receivable			60	86
Other current assets			8	17
Property, Plant and Equipment			10	63
Operating Lease Right-Of-Use Assets			24	111
Goodwill			739	581
Intangible Assets			554	381
Other Non-Current Assets			52
Accounts Payable and other current liabilities			(56)	(150)
Non-Current Operating Leases			(19)	(85)
Long-Term Debt and Finance Leases				(183)
Deferred Income Tax Liabilities			(43)	(66)
Total purchase price			1,347	784
Immaterial Business Acquisitions | Development Areas
Business Acquisition [Line Items]
Intangible Assets			$ 64	$ 113

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Carrying Value of Debt Obligations (Details)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Nov. 11, 2024 USD ($)	Sep. 03, 2024 USD ($)	May 22, 2024 USD ($)	May 21, 2024 USD ($)	May 21, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Principal Value	$ 21,487,000,000
Finance lease obligations (see Note 11)	455,000,000							$ 472,000,000
Total debt	21,284,000,000							22,264,000,000
Less: current maturities	(1,838,000,000)							(3,348,000,000)
Long-term debt	$ 19,446,000,000							18,916,000,000
5.500% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.50%	5.50%
5.125% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.125%	5.125%
Senior notes | 2.800% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	2.80%	2.80%	2.80%
Principal Value	$ 0		$ 500,000,000
Long-term debt	$ 0							499,000,000
Senior notes | 2.200% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	2.20%	2.20%		2.20%
Principal Value	$ 0			$ 400,000,000
Long-term debt	$ 0							400,000,000
Senior notes | 3.900% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.90%	3.90%
Principal Value	$ 1,000,000,000
Long-term debt	$ 1,000,000,000							999,000,000
Senior notes | 2.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	2.40%	2.40%
Principal Value	$ 500,000,000
Long-term debt	$ 499,000,000							499,000,000
Senior notes | 3.050% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.05%	3.05%
Principal Value	$ 1,000,000,000
Long-term debt	$ 997,000,000							996,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.40%	3.40%
Principal Value	$ 750,000,000
Long-term debt	$ 748,000,000							747,000,000
Senior notes | 2.500% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	2.50%	2.50%
Principal Value	$ 400,000,000
Long-term debt	$ 398,000,000							398,000,000
Senior notes | 4.450% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	4.45%	4.45%
Principal Value	$ 750,000,000
Long-term debt	$ 746,000,000							745,000,000
Senior notes | 4.875% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	4.875%	4.875%
Principal Value	$ 900,000,000
Long-term debt	$ 895,000,000							894,000,000
Senior notes | 5.150% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.15%	5.15%			5.15%
Principal Value	$ 900,000,000				$ 900,000,000
Long-term debt	$ 894,000,000							0
Senior notes | 6.200% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	6.20%	6.20%
Principal Value	$ 1,500,000,000
Long-term debt	$ 1,486,000,000							1,485,000,000
Senior notes | 5.200% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.20%	5.20%
Principal Value	$ 500,000,000
Long-term debt	$ 495,000,000							494,000,000
Senior notes | 4.875% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	4.875%	4.875%
Principal Value	$ 500,000,000
Long-term debt	$ 492,000,000							491,000,000
Senior notes | 3.625% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.625%	3.625%
Principal Value	$ 375,000,000
Long-term debt	$ 369,000,000							369,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.40%	3.40%
Principal Value	$ 500,000,000
Long-term debt	$ 492,000,000							492,000,000
Senior notes | 3.750% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.75%	3.75%
Principal Value	$ 1,150,000,000
Long-term debt	$ 1,138,000,000							1,138,000,000
Senior notes | 4.250% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	4.25%	4.25%
Principal Value	$ 750,000,000
Long-term debt	$ 743,000,000							743,000,000
Senior notes | 3.400% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	3.40%	3.40%
Principal Value	$ 700,000,000
Long-term debt	$ 689,000,000							689,000,000
Senior notes | 5.300% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.30%	5.30%
Principal Value	$ 1,250,000,000
Long-term debt	$ 1,232,000,000							1,232,000,000
Senior notes | 5.050% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.05%	5.05%
Principal Value	$ 1,100,000,000
Long-term debt	$ 1,083,000,000							1,083,000,000
Senior notes | 5.500% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.50%	5.50%			5.50%
Principal Value	$ 1,100,000,000				$ 1,100,000,000
Long-term debt	$ 1,087,000,000							0
Senior notes | 5.600% senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.60%	5.60%			5.60%
Principal Value	$ 600,000,000				$ 600,000,000
Long-term debt	590,000,000							0
Senior notes | Floating-rate senior notes
Debt Instrument [Line Items]
Principal Value	1,775,000,000
Long-term debt	$ 1,755,000,000							1,545,000,000
Senior notes | 7.620% debentures
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	7.62%	7.62%
Debentures | 7.620% debentures
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	7.62%	7.62%
Principal Value	$ 276,000,000
Long-term debt	$ 279,000,000							280,000,000
Pound Sterling notes | 5.500% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.50%	5.50%
Principal Value	$ 84,000,000
Long-term debt	$ 83,000,000							84,000,000
Pound Sterling notes | 5.125% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	5.125%	5.125%
Principal Value	$ 572,000,000
Long-term debt	$ 544,000,000							550,000,000
Euro Senior Notes | 1.625% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	1.625%	1.625%
Principal Value	$ 732,000,000	€ 700,000,000
Long-term debt	$ 731,000,000							774,000,000
Euro Senior Notes | 1.000% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	1%	1%
Principal Value	$ 523,000,000	€ 500,000,000
Long-term debt	$ 521,000,000							551,000,000
Euro Senior Notes | 1.500% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	1.50%	1.50%
Principal Value	$ 523,000,000	€ 500,000,000
Long-term debt	$ 521,000,000							551,000,000
Canadian Senior Notes | 2.125% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	2.125%	2.125%				2.125%	2.125%
Principal Value	$ 0					$ 550,000,000	$ 750,000,000
Long-term debt	0							566,000,000
Facility notes and bonds Due 2029 through 2045
Debt Instrument [Line Items]
Principal Value	320,000,000
Long-term debt	320,000,000							320,000,000
Other debt
Debt Instrument [Line Items]
Principal Value	2,000,000
Long-term debt	$ 2,000,000							$ 6,000,000

DEBT AND FINANCING ARRANGEMEN_4

DEBT AND FINANCING ARRANGEMENTS - Additional Information (Details) £ in Millions			12 Months Ended
	May 28, 2024 USD ($)	May 22, 2024 USD ($) series	Dec. 31, 2024 USD ($) tranche issuance credit_agreement	Dec. 31, 2023 USD ($)	Dec. 31, 2024 EUR (€) tranche issuance credit_agreement	Dec. 31, 2024 GBP (£) tranche issuance credit_agreement	Nov. 11, 2024 USD ($)	Sep. 03, 2024 USD ($)	May 21, 2024 USD ($)	May 21, 2024 CAD ($)
Debt Instrument [Line Items]
Debt instrument, face amount			$ 21,487,000,000
Outstanding letters of credit			1,700,000,000
Surety bonds written			$ 1,800,000,000
Number of credit agreements | credit_agreement			2		2	2
Covenants limit the amount of secured indebtedness that we may incur, and limit the amount of attributable debt in sale-leaseback transactions, to percentage of net tangible assets			10%		10%	10%
Covenants limit the amount of secured indebtedness that we may incur, and limit the amount of attributable debt in sale-leaseback transactions, net tangible assets amount			$ 4,600,000,000
Level 2
Debt Instrument [Line Items]
Long-term debt fair value			$ 20,300,000,000	$ 22,100,000,000
Senior notes
Debt Instrument [Line Items]
Number of series of notes | series		3
Redemption price percent		100%
Callable debt noncallable period	30 years
Senior notes | LIBOR
Debt Instrument [Line Items]
Applicable margin rates			0.45%
Euro Senior Notes
Debt Instrument [Line Items]
Number of issuances | issuance			3		3	3
Commercial paper
Debt Instrument [Line Items]
Short-term debt			$ 0	2,172,000,000
Debt instrument, face amount			0
U.S. Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow			10,000,000,000
U.S. Commercial Paper Program | Commercial paper
Debt Instrument [Line Items]
Short-term debt			$ 0
Foreign Commercial Paper Program
Debt Instrument [Line Items]
Commercial paper program, authorized to borrow | €					€ 5,000,000,000
2.125% notes | Canadian Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			2.125%		2.125%	2.125%			2.125%	2.125%
Debt instrument, face amount			$ 0						$ 550,000,000	$ 750,000,000
Long-term debt			$ 0	566,000,000
2.200% senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			2.20%		2.20%	2.20%		2.20%
Debt instrument, face amount			$ 0					$ 400,000,000
Long-term debt			$ 0	400,000,000
2.800% senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			2.80%		2.80%	2.80%	2.80%
Debt instrument, face amount			$ 0				$ 500,000,000
Long-term debt			$ 0	499,000,000
5.150% senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage		5.15%	5.15%		5.15%	5.15%
Debt instrument, face amount		$ 900,000,000	$ 900,000,000
Long-term debt			$ 894,000,000	0
5.500% senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage		5.50%	5.50%		5.50%	5.50%
Debt instrument, face amount		$ 1,100,000,000	$ 1,100,000,000
Long-term debt			$ 1,087,000,000	0
5.600% senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage		5.60%	5.60%		5.60%	5.60%
Debt instrument, face amount		$ 600,000,000	$ 600,000,000
Long-term debt			590,000,000	$ 0
Floating Rate Senior Notes Due 2074 | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage	0.35%
Debt instrument, face amount	$ 213,000,000
Conversion waiting period	1 year
Floating rate senior notes | Senior notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 500,000,000
Average interest rate			5.32%
Floating rate senior notes maturing 2049-2073 | Senior notes
Debt Instrument [Line Items]
Callable debt noncallable period	30 years
Conversion waiting period			1 year
Average interest rate			4.77%	4.75%
Floating rate senior notes maturing 2049-2073 | Senior notes | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Applicable margin rates			0.04%
Floating rate senior notes maturing 2049-2073 | Senior notes | Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Applicable margin rates			0.35%
7.620% debentures
Debt Instrument [Line Items]
Original debt amount			$ 276,000,000
Treasury yield, percentage			0.05%		0.05%	0.05%
7.620% debentures | Senior notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			7.62%		7.62%	7.62%
5.500% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			5.50%		5.50%	5.50%
Number of tranches in debt instrument | tranche			2		2	2
Pound Sterling notes not exchanged | £						£ 66
5.500% notes | Pound Sterling notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			5.50%		5.50%	5.50%
Debt instrument, face amount			$ 84,000,000
Long-term debt			$ 83,000,000	$ 84,000,000
5.125% notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			5.125%		5.125%	5.125%
Number of tranches in debt instrument | tranche			2		2	2
Pound Sterling notes not exchanged | £						£ 455
5.125% notes | Pound Sterling notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			5.125%		5.125%	5.125%
Debt instrument, face amount			$ 572,000,000
Long-term debt			$ 544,000,000	550,000,000
5.125% notes | Pound Sterling notes | Government of United Kingdom Bond Yield
Debt Instrument [Line Items]
Applicable margin rates			0.15%
1.625% notes | Euro Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			1.625%		1.625%	1.625%
Debt instrument, face amount			$ 732,000,000		€ 700,000,000
Long-term debt			$ 731,000,000	774,000,000
1.625% notes | Euro Senior Notes | German Government
Debt Instrument [Line Items]
Applicable margin rates			0.20%
1.000% notes | Euro Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			1%		1%	1%
Debt instrument, face amount			$ 523,000,000		€ 500,000,000
Long-term debt			$ 521,000,000	551,000,000
1.000% notes | Euro Senior Notes | German Government
Debt Instrument [Line Items]
Applicable margin rates			0.15%
1.500% notes | Euro Senior Notes
Debt Instrument [Line Items]
Debt instrument, stated interest rate percentage			1.50%		1.50%	1.50%
Debt instrument, face amount			$ 523,000,000		€ 500,000,000
Long-term debt			$ 521,000,000	$ 551,000,000
1.500% notes | Euro Senior Notes | German Government
Debt Instrument [Line Items]
Applicable margin rates			0.20%
Facility Notes and Bonds Worldport Louisville Due January 2029
Debt Instrument [Line Items]
Average interest rate			3.28%	3.31%
Long-term debt			$ 149,000,000
Facility Notes and Bonds Airfreight Louisville Due November 2036
Debt Instrument [Line Items]
Average interest rate			3.21%	3.29%
Long-term debt			$ 42,000,000
Facility Notes and Bonds International Airport Dallas Fort Worth Due May 2032
Debt Instrument [Line Items]
Average interest rate			3.26%	4.42%
Long-term debt			$ 29,000,000
Facility Notes and Bonds, Delaware County, Pennsylvania Industrial Development Authority, Due September 2045
Debt Instrument [Line Items]
Average interest rate			3.18%	3.26%
Long-term debt			$ 100,000,000
Revolving Credit Facility Expiring in 2024
Debt Instrument [Line Items]
Revolving credit facilities			$ 1,000,000,000
Revolving Credit Facility Expiring in 2024 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin rates			0.10%
Revolving Credit Facility Expiring in 2024 | Base Rate
Debt Instrument [Line Items]
Applicable margin rates			0.70%
Revolving Credit Facility Expiring in 2024 | Federal funds effective rate
Debt Instrument [Line Items]
Applicable margin rates			0.50%
Revolving Credit Facility Expiring in 2024 | Adjusted Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin rates			1%
Revolving Credit Facility Expiring in 2026
Debt Instrument [Line Items]
Revolving credit facilities			$ 2,000,000,000
Line of credit facility, fair value of amount outstanding			$ 0
Revolving Credit Facility Expiring in 2026 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin rates			0.10%
Revolving Credit Facility Expiring in 2026 | Base Rate
Debt Instrument [Line Items]
Applicable margin rates			0.70%
Revolving Credit Facility Expiring in 2026 | Federal funds effective rate
Debt Instrument [Line Items]
Applicable margin rates			0.50%
Revolving Credit Facility Expiring in 2026 | Adjusted Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin rates			1%

DEBT AND FINANCING ARRANGEMEN_5

DEBT AND FINANCING ARRANGEMENTS - Aggregate Minimum Lease Payments, Annual Principal Payments and Amounts Expected to be Spent for Purchase Commitments (Details) - USD ($)	2 Months Ended
	Feb. 18, 2025	Feb. 03, 2025	Dec. 31, 2024
Debt Principal
2025			$ 1,732,000,000
2026			500,000,000
2027			1,000,000,000
2028			523,000,000
2029			1,150,000,000
After 2029			16,125,000,000
Total			21,030,000,000
Purchase Commitments
2025			2,925,000,000
2026			2,462,000,000
2027			701,000,000
2028			111,000,000
2029			7,000,000
After 2029			0
Total			$ 6,206,000,000
Subsequent Event
Purchase Commitments
Share repurchase authorized amount		$ 1,000,000,000
Certain Services | Subsequent Event
Long-Term Purchase Commitment [Line Items]
Purchase obligation	$ 400,000,000
Purchase obligation, period	10 years

LEGAL PROCEEDINGS AND CONTING_2

LEGAL PROCEEDINGS AND CONTINGENCIES (Details) $ in Millions	1 Months Ended	3 Months Ended
	Aug. 31, 2016 defendant	Sep. 30, 2024 USD ($)
Gratton v. United Parcel Service, Inc., | Compensatory Damages
Loss Contingencies [Line Items]
Loss contingency, damages awarded		$ 39.6
Gratton v. United Parcel Service, Inc., | Punitive Damages
Loss Contingencies [Line Items]
Loss contingency, damages awarded		$ 198
CNMC
Loss Contingencies [Line Items]
Number of defendants | defendant	10

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease costs	$ 912	$ 860	$ 736
Finance lease costs:
Amortization of assets	145	119	112
Interest on lease liabilities	23	18	14
Total finance lease costs	168	137	126
Variable lease costs	311	279	270
Short-term lease costs	1,079	1,166	1,499
Total lease costs	$ 2,470	$ 2,442	$ 2,631

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Lessee, finance lease and operating lease, lease not yet commenced, amount	$ 561
Finance lease, impairment loss	0	$ 0	$ 0
Impairment charges for ROU assets	$ 0	$ 0	$ 0

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases:
Operating lease right-of-use assets	$ 4,149	$ 4,308
Current maturities of operating leases	733	709
Non-current operating leases	3,635	3,756
Total operating lease obligations	4,368	4,465
Finance Leases:
Property, plant and equipment, net	657	856
Current maturities of long-term debt, commercial paper and finance leases	$ 104	$ 104
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
Long-term debt and finance leases	$ 351	$ 368
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Total finance lease obligations	$ 455	$ 472
Weighted average remaining lease term (in years):
Operating leases	10 years 4 months 24 days	10 years 9 months 18 days
Finance leases	11 years 1 month 6 days	7 years 4 months 24 days
Weighted average discount rate:
Operating leases	3.50%	3.20%
Finance leases	3.84%	3.88%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash paid for amounts included in measurement of obligations:
Operating cash flows from operating leases	$ 877	$ 835
Operating cash flows from finance leases	20	17
Financing cash flows from finance leases	136	126
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	740	1,278
Finance leases	$ 120	$ 209

LEASES - Maturity Schedule Afte

LEASES - Maturity Schedule After Adoption (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finance Leases
2025	$ 115
2026	87
2027	55
2028	47
2029	38
Thereafter	207
Total lease payments	549
Less: Imputed interest	(94)
Total finance lease obligations	455	$ 472
Less: Current obligations	(104)	(104)
Long-term lease obligations	351	368
Operating Leases
2025	847
2026	765
2027	659
2028	504
2029	388
Thereafter	2,049
Total lease payments	5,212
Less: Imputed interest	(844)
Total operating lease obligations	4,368	4,465
Less: Current obligations	(733)	(709)
Long-term lease obligations	$ 3,635	$ 3,756

SHAREOWNERS' EQUITY - Additiona

SHAREOWNERS' EQUITY - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) vote class_of_commonStock $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Feb. 03, 2025 USD ($)	Jan. 31, 2023 USD ($)	Aug. 31, 2021 USD ($)
Class of Stock [Line Items]
Classes of common stock | class_of_commonStock	2
Preferred stock, shares authorized (in shares) | shares	200,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01
Preferred stock, issued (in shares) | shares	0
Common stock purchases (shares) | shares	3,900,000	12,800,000	19,000,000
Total of class A and class B common stock, repurchased, value | $	$ 500,000,000	$ 2,300,000,000	$ 3,500,000,000
Subsequent Event
Class of Stock [Line Items]
Share repurchase authorized amount | $				$ 1,000,000,000
August 2021 Share Repurchase Program
Class of Stock [Line Items]
Common stock purchases (shares) | shares	500,000
Total of class A and class B common stock, repurchased, value | $	$ 82,000,000
Share repurchase authorized amount | $						$ 5,000,000,000
January 2023 Share Repurchase Program
Class of Stock [Line Items]
Common stock purchases (shares) | shares	12,300,000
Total of class A and class B common stock, repurchased, value | $	$ 2,200,000,000
Share repurchase authorized amount | $					$ 5,000,000,000
Share repurchase authorization remaining | $	$ 2,300,000,000
Common Class A
Class of Stock [Line Items]
Votes per common share | vote	10
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, shares authorized (in shares) | shares	4,600,000,000
Common Class B
Class of Stock [Line Items]
Votes per common share | vote	1
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, shares authorized (in shares) | shares	5,600,000,000

SHAREOWNERS' EQUITY - Roll-forw

SHAREOWNERS' EQUITY - Roll-forward of Common Stock, Additional Paid-in Capital, Retained Earnings Accounts and Noncontrolling Interest (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year	$ 17,314
Common stock purchases (in shares)	(3,900)	(12,800)	(19,000)
Common stock purchases	$ (500)	$ (2,300)	$ (3,500)
Net income attributable to controlling interests	5,782	6,708	$ 11,548
Balance at end of year	$ 16,743	$ 17,314
Dividends (in dollars per share)	$ 6.52	$ 6.48	$ 6.08
Dividends, common stock	$ 195	$ 239	$ 249
Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	127,000
Balance at end of year (in shares)	121,000	127,000
Common Class B
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	726,000
Balance at end of year (in shares)	733,000	726,000
Common Stock | Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	127,000	134,000	138,000
Balance at beginning of year	$ 2	$ 2	$ 2
Stock award plans (in shares)	2,000	5,000	5,000
Stock award plans	$ 0	$ 0	$ 0
Common stock issuances (in shares)	3,000	2,000	3,000
Common stock issuances	$ 0	$ 0	$ 0
Conversions of Class A to Class B common stock (in shares)	(11,000)	(14,000)	(12,000)
Conversions of class A to class B common stock	$ 0	$ 0	$ 0
Balance at end of year (in shares)	121,000	127,000	134,000
Balance at end of year	$ 2	$ 2	$ 2
Common Stock | Common Class B
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	726,000	725,000	732,000
Balance at beginning of year	$ 7	$ 7	$ 7
Common stock purchases (in shares)	(4,000)	(13,000)	(19,000)
Common stock purchases	$ 0	$ 0	$ 0
Conversions of Class A to Class B common stock (in shares)	11,000	14,000	12,000
Conversions of class A to class B common stock	$ 0	$ 0	$ 0
Balance at end of year (in shares)	733,000	726,000	725,000
Balance at end of year	$ 7	$ 7	$ 7
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year	0	0	1,343
Stock award plans	(77)	425	624
Common stock issuances	425	467	495
Common stock purchases	(212)	(882)	(2,462)
Other	0	(10)	0
Balance at end of year	136	0	0
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year	21,055	21,326	16,179
Common stock purchases	(288)	(1,368)	(1,038)
Net income attributable to controlling interests	5,782	6,708	11,548
Dividends	(5,594)	(5,611)	(5,363)
Other	(73)	0	0
Balance at end of year	20,882	21,055	21,326
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year	8	17	16
Change in non-controlling interests	17	(9)	1
Balance at end of year	$ 25	$ 8	$ 17

SHAREOWNERS' EQUITY - Activity

SHAREOWNERS' EQUITY - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	$ 17,314
Balance at end of year	16,743	$ 17,314
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	(3,758)	(1,549)
Balance at end of year	(4,309)	(3,758)	$ (1,549)
Foreign Currency Translation Gain (Loss), Net of Tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	(1,248)	(1,446)	(1,162)
Current period changes in fair value	(338)	190	(315)
Reclassification to earnings	0	8	31
Balance at end of year	(1,586)	(1,248)	(1,446)
Current period changes in fair value, tax effect	(7)	(15)	(17)
Reclassification to earnings, tax effect	0	0	2
Unrealized Gain (Loss) on Marketable Securities, Net of Tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	(2)	(11)	(1)
Current period changes in fair value	1	7	(12)
Reclassification to earnings	0	2	2
Balance at end of year	(1)	(2)	(11)
Current period changes in fair value, tax effect	0	2	(3)
Reclassification to earnings, tax effect	0	1	1
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	(76)	167	(17)
Current period changes in fair value	296	(89)	407
Reclassification to earnings	(129)	(154)	(223)
Balance at end of year	91	(76)	167
Current period changes in fair value, tax effect	93	(28)	128
Reclassification to earnings, tax effect	(41)	(48)	(70)
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax:
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of year	(2,432)	(259)	(2,098)
Current period changes in fair value	(1,005)	(2,530)	2,576
Reclassification to earnings	624	357	(737)
Balance at end of year	(2,813)	(2,432)	(259)
Current period changes in fair value, tax effect	(315)	(793)	810
Reclassification to earnings, tax effect	$ 195	$ 111	$ (230)

SHAREOWNERS' EQUITY - Reclassif

SHAREOWNERS' EQUITY - Reclassification from AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expenses	$ (7,888)	$ (8,097)	$ (7,920)
Investment income (expense) and other	236	314	184
Interest expense	(866)	(787)	(704)
Revenue	91,070	90,958	100,338
Income tax expense	(1,660)	(1,865)	(3,277)
Net Income	5,782	6,708	11,548
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income	(495)	(213)	927
Unrealized Gain (Loss) on Foreign Currency Translation: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expenses	0	(8)	(33)
Income tax expense	0	0	2
Net Income	0	(8)	(31)
Unrealized Gain (Loss) on Marketable Securities, Net of Tax: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income (expense) and other	0	(3)	(3)
Income tax expense	0	1	1
Net Income	0	(2)	(2)
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income (expense) and other	(1)	(1)	(1)
Interest expense	(5)	(10)	(10)
Revenue	176	213	304
Income tax expense	(41)	(48)	(70)
Net Income	129	154	223
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax: | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	195	111	(230)
Net Income	(624)	(357)	737
Prior service costs | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income (expense) and other	(154)	(109)	(94)
Remeasurement of benefit obligation | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income (expense) and other	(665)	(351)	1,027
Curtailments and settlements of benefit obligations | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Investment income (expense) and other	$ 0	$ (8)	$ 34

SHAREOWNERS' EQUITY - Activit_2

SHAREOWNERS' EQUITY - Activity in Deferred Compensation Program (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	200
Balance at beginning of year	$ 17,306
Balance at end of year (in shares)	100	200
Balance at end of year	$ 16,718	$ 17,306
Deferred Compensation Obligations
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year	9	13	$ 16
Reinvested dividends	1	0	2
Benefit payments	(3)	(4)	(5)
Balance at end of year	$ 7	$ 9	$ 13
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of year (in shares)	0	0	0
Balance at beginning of year	$ (9)	$ (13)	$ (16)
Reinvested dividends (in shares)	0	0	0
Reinvested dividends	$ (1)	$ 0	$ (2)
Benefit payments (in shares)	0	0	0
Benefit payments	$ 3	$ 4	$ 5
Balance at end of year (in shares)	0	0	0
Balance at end of year	$ (7)	$ (9)	$ (13)

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 24	$ 220	$ 1,568
Stock-based payment arrangement, expense, tax benefit	(18)	42	451
Restricted Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, exercise of option, tax benefit	$ 110	$ 201	$ 352
Granted (in dollars per share)	$ 147.22	$ 185.66	$ 223.72
Vested in period, fair value	$ 11	$ 1,100	$ 923
Nonvested award, cost not yet recognized, amount	$ 3
Nonvested award, cost not yet recognized, period for recognition	2 years
Restricted Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 156.73	$ 198.78	$ 227
Vested in period, fair value	$ 23	$ 111	$ 239
Nonvested award, cost not yet recognized, amount	$ 104
Nonvested award, cost not yet recognized, period for recognition	1 year 10 months
Nonqualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (exercisable) period of awards	5 years
Nonvested award, cost not yet recognized, amount	$ 3
Nonvested award, cost not yet recognized, period for recognition	3 years
Expiration period	10 years
Proceeds from stock options exercised	$ 3	20	14
Options, exercises in period, intrinsic value	$ 2	$ 15	$ 20
Nonqualified Stock Options | Granted between 2019 and 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the award vesting at each anniversary date of the grant	20%
Nonqualified Stock Options | Granted prior to 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the award vesting at each anniversary date of the grant	20%
Nonqualified Stock Options | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the award vesting at each anniversary date of the grant	20%
Nonqualified Stock Options | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the award vesting at each anniversary date of the grant	20%
Nonqualified Stock Options | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the award vesting at each anniversary date of the grant	20%
Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	25,000,000
Number of shares available for grant	9,000,000
Incentive Compensation Plan | Restricted Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Decrease in number of shares available for grant for each share of award granted	1
Management Incentive Award | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation paid in restricted units			50%
Management Incentive Award | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation paid in restricted units			66.67%
Management Incentive Award | Granted between 2019 and 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense			$ 505
Management Incentive Award | Granted between 2019 and 2022 | U.S. Domestic Package
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense			$ 431
Long Term Incentive Performance Award | Restricted Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (exercisable) period of awards	3 years
Long Term Incentive Performance Award | Restricted Performance Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consolidated adjusted earnings per share	50%
Adjusted cumulative free cash flow	(20.00%)
Long Term Incentive Performance Award | Restricted Performance Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjusted cumulative free cash flow	50%
Award modifier related to total shareowner return relative to S&P 500 Index	20%
Discounted Employee Stock Purchase Modified Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable price percentage of closing price of another class of stock	95%
Discounted Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued, employee stock purchase plans (in shares)	800,000	700,000	600,000
Shares issued, employee stock purchase plan, average price per share (in dollars per share)	$ 130.14	$ 162.34	$ 180.80

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Units Outstanding, Including Reinvested Dividends (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Units
Shares
Beginning Balance (in shares)	58
Vested (in shares)	(83)
Granted (in shares)	14
Reinvested Dividends (in shares)	41
Forfeited / Expired (in shares)	(5)
Ending Balance (in shares)	25	58
Weighted-Average Grant Date Fair Value
Beginning Balance (in dollars per share)	$ 176.68
Vested (in dollars per share)	169.01
Granted (in dollars per share)	147.22	$ 185.66	$ 223.72
Forfeited / Expired (in dollars per share)	154.27
Ending Balance (in dollars per share)	$ 177.76	$ 176.68
Restricted Performance Units
Shares
Beginning Balance (in shares)	1,268
Vested (in shares)	(296)
Granted (in shares)	918
Reinvested Dividends (in shares)	90
Performance Adjustments (in shares)	(320)
Forfeited / Expired (in shares)	(259)
Ending Balance (in shares)	1,401	1,268
Weighted-Average Grant Date Fair Value
Beginning Balance (in dollars per share)	$ 210.04
Vested (in dollars per share)	214.27
Granted (in dollars per share)	156.73	$ 198.78	$ 227
Performance adjustments (in dollars per share)	226.71
Forfeited / Expired (in dollars per share)	184.89
Ending Balance (in dollars per share)	$ 174.12	$ 210.04

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Employee Stock Options Granted as Determined by Black-Scholes Valuation Model Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Long Term Incentive Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.43%	3.89%	2.35%
Expected volatility	27.02%	30.23%	31.92%
Weighted-average fair value granted (in dollars per share)	$ 156.73	$ 198.78	$ 227
Share payout	101.92%	107.72%	107.37%
Nonqualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	3.96%	3.54%	2.35%
Risk-free interest rate	4.25%	3.70%	2.39%
Expected life in years	6 years 1 month 17 days	5 years 11 months 4 days	7 years 6 months
Expected volatility	28.94%	28.31%	25.04%
Weighted-average fair value granted (in dollars per share)	$ 34.76	$ 41.08	$ 48.45

STOCK-BASED COMPENSATION - Opti

STOCK-BASED COMPENSATION - Options to Purchase Shares of Class A Common Stock Issued and Outstanding (Details) - Nonqualified Stock Options $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Shares
Beginning Balance (in shares)	1,382
Exercised (in shares)	(34)
Granted (in shares)	153
Forfeited / Expired (in shares)	(49)
Ending Balance (in shares)	1,452
Options Vested and Expected to Vest (in shares)	1,452
Exercisable as of period end (in shares)	1,128
Weighted-Average Exercise Price
Beginning Balance (in dollars per share) | $ / shares	$ 127.91
Exercised (in dollars per share) | $ / shares	99.69
Granted (in dollars per share) | $ / shares	154.76
Ending Balance (in dollars per share) | $ / shares	130.08
Options Vested and Expected to Vest (in dollars per share) | $ / shares	130.08
Exercisable as of period end (in dollars per share) | $ / shares	$ 119.92
Weighted-Average Remaining Contractual Term (in years)
Outstanding, Weighted-Average Remaining Contractual Term	5 years 29 days
Vested, Weighted-Average Remaining Contractual Term	5 years 29 days
Exercisable, Weighted-Average Remaining Contractual Term	4 years 3 months 3 days
Aggregate Intrinsic Value
Outstanding, Aggregate Intrinsic Value | $	$ 19
Options Vested, Aggregate Intrinsic Value | $	19
Exercisable, Aggregate Intrinsic Value | $	$ 18

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 location segment	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Amazon.com, Inc. | Revenue Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	11.80%	11.80%	11.30%
Amazon.com, Inc. | Receivable Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	12.80%	15.80%	15.50%
International Package
Segment Reporting Information [Line Items]
Number of countries and territories in which service is rendered (more than)	200
Supply Chain  Solutions
Segment Reporting Information [Line Items]
Number of countries and territories in which service is rendered (more than)	200

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION - Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 91,070	$ 90,958	$ 100,338
Compensation and benefits	48,093	47,092	47,724
Purchased transportation	13,589	13,640	17,666
Segment Operating profit/(loss)	7,536	8,387	11,477
Other pension income (expense)	(396)	(95)	2,251
Investment income (expense) and other	236	314	184
Interest expense	(866)	(787)	(704)
Income Before Income Taxes	7,442	8,573	14,825
Long-lived assets	70,070	70,857	71,124
Depreciation and amortization	3,609	3,366	3,188
Domestic Segment
Segment Reporting Information [Line Items]
Compensation	20,839	19,818	20,488
Benefits	16,862	16,859	16,603
Purchased transportation	2,466	2,555	3,333
Other segment items	15,864	15,817	17,036
Segment Operating profit/(loss)	4,345	5,156	7,151
International Segment
Segment Reporting Information [Line Items]
Compensation and benefits	3,783	3,794	3,890
Purchased transportation	3,447	3,391	3,773
Other segment items	7,539	7,415	7,709
Segment Operating profit/(loss)	3,191	3,231	4,326
Operating Segments
Segment Reporting Information [Line Items]
Revenue	78,336	78,036	84,309
Long-lived assets	56,957	55,955	55,973
Depreciation and amortization	3,247	3,032	2,934
Operating Segments | Domestic Segment
Segment Reporting Information [Line Items]
Revenue	60,376	60,205	64,611
Long-lived assets	38,657	38,368	38,303
Depreciation and amortization	2,470	2,290	2,173
Operating Segments | International Segment
Segment Reporting Information [Line Items]
Revenue	17,960	17,831	19,698
Long-lived assets	18,300	17,587	17,670
Depreciation and amortization	777	742	761
Other items
Segment Reporting Information [Line Items]
Revenue	12,734	12,922	16,029
Other profit/(loss)	932	754	1,617
Long-lived assets	9,850	11,245	10,407
Depreciation and amortization	362	334	254
Unallocated items
Segment Reporting Information [Line Items]
Long-lived assets	$ 3,263	$ 3,657	$ 4,744

SEGMENT AND GEOGRAPHIC INFORM_5

SEGMENT AND GEOGRAPHIC INFORMATION - Geographic Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 91,070	$ 90,958	$ 100,338
Long-lived assets	46,477	46,988	44,993
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	70,389	71,749	78,110
Long-lived assets	33,173	33,301	32,002
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	20,681	19,209	22,228
Long-lived assets	$ 13,304	$ 13,687	$ 12,991

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
U.S. Federal	$ 1,093	$ 1,012	$ 2,006
U.S. State and Local	172	195	273
Non-U.S.	410	459	467
Total Current	1,675	1,666	2,746
Deferred:
U.S. Federal	38	150	296
U.S. State and Local	(30)	20	136
Non-U.S.	(23)	29	99
Total Deferred	(15)	199	531
Total Income Tax Expense	$ 1,660	$ 1,865	$ 3,277

INCOME TAXES - Income Before In

INCOME TAXES - Income Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 5,839	$ 6,246	$ 12,276
Non-U.S.	1,603	2,327	2,549
Income Before Income Taxes	$ 7,442	$ 8,573	$ 14,825

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	21%	21%	21%
U.S. state and local income taxes (net of federal benefit)	1.80%	1.90%	2%
Non-U.S. tax rate differential	0%	(0.60%)	0.10%
Effective Income Tax Rate Reconciliation, FDII And GILTI, Percent	(1.20%)	(0.90%)	(0.70%)
U.S. federal tax credits	(0.80%)	(0.70%)	(0.50%)
Goodwill and other asset impairments	0%	0.10%	0%
Net uncertain tax positions	0.20%	(0.50%)	0.40%
Other	1.30%	1.50%	(0.20%)
Effective income tax rate	22.30%	21.80%	22.10%

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Effective income tax rate		22.30%	21.80%	22.10%
Gain (loss) on mark to market of defined benefit plan, tax benefit		$ 159	$ (85)	$ 255
Gain (loss) on mark to market of defined benefit plan		(665)	(359)	1,100
Transformation cost		322	435	178
Effective income tax rate reconciliation, nondeductible expense, restructuring charges, amount		77	102	36
Asset impairment charges		108
Effective income tax rate reconciliation, nondeductible expense, impairment losses, amount		27
Payments for nonrecurring compensation		19	61
Income tax benefit, nonrecurring compensation		5	15
Litigation expense		45
International regulatory payment		94
Tax expense (benefit) from share-based compensation		$ 22		$ (95)
Reduction of effective tax rate due to share-based compensation benefits		0.30%		0.60%
Goodwill and intangible asset impairment			236
Additional income tax benefit			43
Share-based payment arrangement, expense				$ 505
Additional income tax benefit				121
Increase in accumulated depreciation, depletion				76
Residual value reduction, income tax benefit				18
Income tax holiday, decrease of non-U.S. tax expense		$ 24	$ 15	$ 47
Income tax holiday, per share impact (in dollars per share)		$ 0.03	$ 0.02	$ 0.05
Increase (decrease) in valuation allowance		$ 63	$ (4)	$ 1
Non-U.S. loss carryforwards	$ 475	475
Undistributed earnings of foreign subsidiaries	4,800	4,800
Indefinitely reinvested undistributed earnings of foreign subsidiaries	310	310
Unrepatriated earnings of foreign subsidiaries, liability	62	62
Gross unrecognized tax benefits that would impact effective tax rate, if recognized	$ 430	430	$ 492	$ 533
Disposal Group Not Discontinued Operation Gain Loss On Disposal Statement Of Income Extensible List Not Disclosed Flag	156 million
Federal
Income Taxes [Line Items]
Operating loss carryforwards	$ 409	409
Federal | Tax Year 2026
Income Taxes [Line Items]
Operating loss carryforwards subject to expiration	133	133
Federal | Tax Year 2027
Income Taxes [Line Items]
Operating loss carryforwards subject to expiration	49	$ 49
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Coyote
Income Taxes [Line Items]
Gain on disposal	156
Income tax expense, effect of disposal	$ 4

INCOME TAXES - Deferred Tax Lia

INCOME TAXES - Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Fixed assets and capitalized software	$ (5,914)	$ (5,974)
Operating lease right-of-use assets	(943)	(1,017)
Other	(612)	(605)
Deferred tax liabilities	(7,469)	(7,596)
Pension and postretirement benefits	1,474	1,304
Loss and credit carryforwards	308	232
Insurance reserves	646	626
Accrued employee compensation	352	354
Operating lease liabilities	1,021	1,073
Other	367	480
Deferred tax assets	4,168	4,069
Deferred tax assets valuation allowance	(182)	(119)
Deferred tax asset (net of valuation allowance)	3,986	3,950
Net deferred tax asset (liability)	(3,483)	(3,646)
Amounts recognized in our consolidated balance sheets:
Deferred tax assets	112	126
Deferred tax liabilities	(3,595)	(3,772)
Net deferred tax asset (liability)	$ (3,483)	$ (3,646)

INCOME TAXES - U.S. State and L

INCOME TAXES - U.S. State and Local Operating Loss and Credit Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
U.S. state and local operating loss carryforwards	$ 1,043	$ 762
U.S. state and local credit carryforwards	$ 47	$ 48

INCOME TAXES - Summarized Activ

INCOME TAXES - Summarized Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	$ 492	$ 533	$ 480
Additions for tax positions of the current year	33	26	56
Additions for tax positions of prior years	52	147	25
Reductions for tax positions of prior years for:
Changes based on facts and circumstances	(81)	(164)	(9)
Settlements during the period	(33)	(47)	(10)
Lapses of applicable statute of limitations	(16)	(3)	(9)
Ending Balance	447	492	533
Interest
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	108	104	78
Additions for tax positions of the current year	0	0	0
Additions for tax positions of prior years	33	37	30
Reductions for tax positions of prior years for:
Changes based on facts and circumstances	(11)	(24)	(1)
Settlements during the period	(5)	(9)	(1)
Lapses of applicable statute of limitations	(3)	0	(2)
Ending Balance	122	108	104
Penalties
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning Balance	4	4	2
Additions for tax positions of the current year	0	0	0
Additions for tax positions of prior years	0	1	2
Reductions for tax positions of prior years for:
Changes based on facts and circumstances	(1)	(1)	0
Settlements during the period	0	0	0
Lapses of applicable statute of limitations	0	0	0
Ending Balance	$ 3	$ 4	$ 4

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income attributable to controlling interests	$ 5,782	$ 6,708	$ 11,548
Denominator:
Weighted-average shares (in shares)	854,000	855,000	868,000
Deferred compensation obligations (in shares)	0	0	0
Vested portion of restricted shares (in shares)	1,000	4,000	3,000
Denominator for basic earnings per share (in shares)	855,000	859,000	871,000
Effect of Dilutive Securities:
Denominator for diluted earnings per share (in shares)	856,000	860,000	875,000
Basic Earnings Per Share (in dollars per share)	$ 6.76	$ 7.81	$ 13.26
Diluted Earnings Per Share (in dollars per share)	$ 6.75	$ 7.80	$ 13.20
Restricted performance units and contingent shares
Effect of Dilutive Securities:
Dilutive securities (in shares)	1,000	1,000	3,000
Stock options
Effect of Dilutive Securities:
Dilutive securities (in shares)	0	0	1,000

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Shares excluded from diluted earnings per share that may be issued upon the exercise of employee stock options because such effect would be antidilutive (in shares)	0.5	0.3	0.1

DERIVATIVE INSTRUMENTS AND RI_3

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Minimum threshold for collateral requirement	$ 250
Cash held as collateral	0	$ 103
Collateral required to be posted with counterparties	0	$ 13
Pre-tax gains related to cash flow hedges that are currently deferred in AOCI and are expected to be reclassified to income over the 12 month period ended December 31, 2025	$ 146
Maximum term over hedging exposures to the variability of cash flow	3 years

DERIVATIVE INSTRUMENTS AND RI_4

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Notional Amounts of Outstanding Derivative Positions (Details) - Foreign currency exchange contracts - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
EUR
Derivative [Line Items]
Derivative, notional amount	$ 3,222	$ 4,408
GBP
Derivative [Line Items]
Derivative, notional amount	536	663
CAD
Derivative [Line Items]
Derivative, notional amount	1,623	1,550
HKD
Derivative [Line Items]
Derivative, notional amount	4,160	1,822
CNH
Derivative [Line Items]
Derivative, notional amount	$ 6,065	$ 0

DERIVATIVE INSTRUMENTS AND RI_5

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Location on the Balance Sheet of Derivative Assets and Liabilities (Details) - Level 2 - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Asset Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	$ 291	$ 158
Net Amounts if Right of Offset had been Applied	283	92
Liability Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	8	92
Net Amounts if Right of Offset had been Applied	0	26
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	157	95
Net Amounts if Right of Offset had been Applied	152	73
Designated as Hedging Instrument | Foreign currency exchange contracts | Other non-current assets
Asset Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	134	63
Net Amounts if Right of Offset had been Applied	131	19
Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Liability Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	5	26
Net Amounts if Right of Offset had been Applied	0	4
Designated as Hedging Instrument | Foreign currency exchange contracts | Other non-current liabilities
Liability Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	3	65
Net Amounts if Right of Offset had been Applied	0	21
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current assets
Asset Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	0	0
Net Amounts if Right of Offset had been Applied	0	0
Not Designated as Hedging Instrument | Foreign currency exchange contracts | Other current liabilities
Liability Derivatives
Gross Amounts Presented in Consolidated Balance Sheets	0	1
Net Amounts if Right of Offset had been Applied	$ 0	$ 1

DERIVATIVE INSTRUMENTS AND RI_6

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Fair Value Derivative Balance Sheet Location (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts Presented in Consolidated Balance Sheets	$ 279	$ 280
Cumulative Amount of Fair Value Hedge Adjustments	$ 4	$ 4
Hedged Liability, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt

DERIVATIVE INSTRUMENTS AND RI_7

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Income Statement and AOCI Recognition of Designated Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue
Derivative Instruments, Gain (Loss) [Line Items]
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	$ 176	$ 213
Revenue | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Revenue | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	176	213
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
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	(5)	(10)
Interest Expense | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	(5)	(10)
Interest Expense | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Investment Income (Expense) and Other
Derivative Instruments, Gain (Loss) [Line Items]
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	(1)	(1)
Investment Income (Expense) and Other | Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	0	0
Investment Income (Expense) and Other | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income	$ (1)	$ (1)

DERIVATIVE INSTRUMENTS AND RI_8

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Amount and Location in the Income Statement for Derivatives Designed as Cash Flow Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 389	$ (117)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	0	(1)
Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	389	(116)
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	127	(119)
Net Investment Hedging | Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 127	$ (119)

DERIVATIVE INSTRUMENTS AND RI_9

DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT - Amount Recorded in Income Statements for Foreign Currency Forward Contracts Not Designated as Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 389	$ (117)
Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	127	(119)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	(1)	(7)
Foreign currency exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	389	(116)
Foreign currency exchange contracts | Net Investment Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	127	(119)
Foreign currency exchange contracts | Not Designated as Hedging Instrument | Investment income (expense) and other
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	(1)	(7)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI	$ 0	$ (1)

TRANSFORMATION STRATEGY COSTS -

TRANSFORMATION STRATEGY COSTS - Additional Information (Details) position in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) position	Dec. 31, 2024 USD ($)	Jan. 31, 2025 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring And related activities, term (less than)			1 year
Transformation 2.0
Restructuring Cost and Reserve [Line Items]
Initial savings	$ 400		$ 400
Additional expected savings	240		240
Costs incurred to date			798
Expected remaining costs	90		90
Fit to Serve
Restructuring Cost and Reserve [Line Items]
Costs incurred to date			416
Expected remaining costs	45		45
Expected number of positions eliminated | position		14
Restructuring reserve	45	$ 205	$ 45
Network Reconfiguration | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Percent of anticipated building closures (up to)				10%
Network Reconfiguration and Efficiency Reimagined
Restructuring Cost and Reserve [Line Items]
Expected volume delivery decline, percent			50%
Efficiency Reimagined
Restructuring Cost and Reserve [Line Items]
Costs incurred to date	$ 35
Efficiency Reimagined | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Initial savings				$ 1,000
Efficiency Reimagined | Minimum | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Expected remaining costs				300
Efficiency Reimagined | Maximum | Subsequent Event
Restructuring Cost and Reserve [Line Items]
Expected remaining costs				$ 400

TRANSFORMATION STRATEGY COSTS_2

TRANSFORMATION STRATEGY COSTS - Restructuring and Related Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Compensation and benefits	$ 213	$ 337	$ 46
Total other expenses	109	98	132
Total Transformation Strategy Costs	322	435	178
Income Tax Benefit from Transformation Strategy Costs	(77)	(102)	(36)
After-Tax Transformation Strategy Costs	$ 245	$ 333	$ 142

TRANSFORMATION STRATEGY COSTS_3

TRANSFORMATION STRATEGY COSTS - Schedule Of Restructuring Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Transformation cost	$ 322	$ 435	$ 178
Transformation 1.0
Restructuring Cost and Reserve [Line Items]
Transformation cost	0	13	50
Transformation 2.0
Restructuring Cost and Reserve [Line Items]
Transformation cost	83	210	128
Spans and layers
Restructuring Cost and Reserve [Line Items]
Transformation cost	0	86	4
Business portfolio review
Restructuring Cost and Reserve [Line Items]
Transformation cost	29	84	80
Financial systems
Restructuring Cost and Reserve [Line Items]
Transformation cost	54	36	33
Other initiatives
Restructuring Cost and Reserve [Line Items]
Transformation cost	0	4	11
Fit to Serve
Restructuring Cost and Reserve [Line Items]
Transformation cost	204	212	0
Network Reconfiguration and Efficiency Reimagined
Restructuring Cost and Reserve [Line Items]
Transformation cost	$ 35	$ 0	$ 0