UPS 2008 Annual Report Download - page 63

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2008 2007 2006
Revenue .......................................................... $51,486 $49,692 $47,547
Operating Expenses:
Compensation and benefits ....................................... 26,063 31,745 24,421
Repairs and maintenance ......................................... 1,194 1,157 1,155
Depreciation and amortization ..................................... 1,814 1,745 1,748
Purchased transportation ......................................... 6,550 5,902 5,496
Fuel .......................................................... 4,134 2,974 2,655
Other occupancy ................................................ 1,027 958 938
Other expenses ................................................. 5,322 4,633 4,499
Total Operating Expenses ............................................ 46,104 49,114 40,912
Operating Profit .................................................... 5,382 578 6,635
Other Income and (Expense):
Investment income .............................................. 75 99 86
Interest expense ................................................ (442) (246) (211)
Total Other Income and (Expense) ..................................... (367) (147) (125)
Income Before Income Taxes ......................................... 5,015 431 6,510
Income Tax Expense ................................................ 2,012 49 2,308
Net Income ........................................................ $ 3,003 $ 382 $ 4,202
Basic Earnings Per Share ............................................. $ 2.96 $ 0.36 $ 3.87
Diluted Earnings Per Share ........................................... $ 2.94 $ 0.36 $ 3.86
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
(In millions)
Years Ended December 31,
2008 2007 2006
Net income ........................................................... $3,003 $ 382 $4,202
Change in foreign currency translation adjustment ............................ (119) 190 54
Change in unrealized gain (loss) on marketable securities, net of tax .............. (69) (3) 1
Change in unrealized gain (loss) on cash flow hedges, net of tax ................. 143 (318) (15)
Change in unrecognized pension and postretirement benefit costs, net of tax ........ (3,597) 323 16
Comprehensive income (loss) ............................................ $ (639) $574 $4,258
See notes to consolidated financial statements.
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