UPS 2009 Annual Report Download - page 66

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2009 2008 2007
Revenue .......................................................... $45,297 $51,486 $49,692
Operating Expenses:
Compensation and benefits ....................................... 25,640 26,063 31,745
Repairs and maintenance ......................................... 1,075 1,194 1,157
Depreciation and amortization ..................................... 1,747 1,814 1,745
Purchased transportation ......................................... 5,379 6,550 5,902
Fuel .......................................................... 2,365 4,134 2,974
Other occupancy ................................................ 985 1,027 958
Other expenses ................................................. 4,305 5,322 4,633
Total Operating Expenses ............................................ 41,496 46,104 49,114
Operating Profit .................................................... 3,801 5,382 578
Other Income and (Expense):
Investment income .............................................. 10 75 99
Interest expense ................................................ (445) (442) (246)
Total Other Income and (Expense) ..................................... (435) (367) (147)
Income Before Income Taxes ......................................... 3,366 5,015 431
Income Tax Expense ................................................ 1,214 2,012 49
Net Income ........................................................ $ 2,152 $ 3,003 $ 382
Basic Earnings Per Share ............................................. $ 2.16 $ 2.96 $ 0.36
Diluted Earnings Per Share ........................................... $ 2.14 $ 2.94 $ 0.36
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
(In millions)
Years Ended December 31,
2009 2008 2007
Net income ........................................................... $2,152 $ 3,003 $ 382
Change in foreign currency translation adjustment ............................ 75 (119) 190
Change in unrealized gain (loss) on marketable securities, net of tax .............. 33 (69) (3)
Change in unrealized gain (loss) on cash flow hedges, net of tax ................. (93) 143 (318)
Change in unrecognized pension and postretirement benefit costs, net of tax ........ 500 (3,597) 323
Comprehensive income (loss) ............................................ $2,667 $ (639) $ 574
See notes to consolidated financial statements.
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