UPS 2007 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2007 UPS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2007 2006 2005
Revenue .......................................................... $49,692 $47,547 $42,581
Operating Expenses:
Compensation and benefits ....................................... 31,745 24,421 22,517
Repairs and maintenance ......................................... 1,157 1,155 1,097
Depreciation and amortization ..................................... 1,745 1,748 1,644
Purchased transportation ......................................... 5,902 5,496 4,075
Fuel .......................................................... 2,974 2,655 2,085
Other occupancy ................................................ 958 938 872
Other expenses ................................................. 4,633 4,499 4,148
Total Operating Expenses ............................................ 49,114 40,912 36,438
Operating Profit .................................................... 578 6,635 6,143
Other Income and (Expense):
Investment income .............................................. 99 86 104
Interest expense ................................................ (246) (211) (172)
Total Other Income and (Expense) ..................................... (147) (125) (68)
Income Before Income Taxes ......................................... 431 6,510 6,075
Income Tax Expense ................................................ 49 2,308 2,205
Net Income ........................................................ $ 382 $ 4,202 $ 3,870
Basic Earnings Per Share ............................................. $ 0.36 $ 3.87 $ 3.48
Diluted Earnings Per Share ........................................... $ 0.36 $ 3.86 $ 3.47
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
(In millions)
Years Ended December 31,
2007 2006 2005
Net income ............................................................ $382 $4,202 $3,870
Change in foreign currency translation adjustment ............................. 190 54 (36)
Change in unrealized gain (loss) on marketable securities, net of tax ............... (3) 1 16
Change in unrealized gain (loss) on cash flow hedges, net of tax .................. (318) (15) 112
Change in unrecognized pension and postretirement benefit costs, net of tax ........ 323 16 (14)
Comprehensive income .................................................. $574 $4,258 $3,948
See notes to consolidated financial statements.
F-5