UPS 2010 Annual Report Download - page 8

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* See pages 23-24 of our Form 10-K for explanations of adjustments.
06
Net cash from operations $3,835
Capital expenditures (1,389)
Proceeds from disposals of PP&E 304
Net change in finance receivables 108
Other investing activities 230
Free cash flow $3,088
Calculation of 2010 Free Cash Flow
(millions of dollars)
Return on Equity
(percent)
30
40
20
10
0
06 07 08 09 10
26.0
2.8
31.7
36.6
27.6 29.7
31.6
Adjusted*
50
44.3
45.1
Return on Invested Capital
(percent)
30
40
20
10
0
06 07 08 09 10
22.1
2.7
18.8
21.9
23.3
15.7
16.4
Adjusted*
21.7
21.3
Dividends Declared
(dollars per share)
1.75
2.0
1.5
1.25
1.0
06 07 08 09 10
1.52
1.68
1.80 1.80 1.88
Shares Repurchased
(millions)
60
50
40
20
30
10
06 07 08 09 10
32.6 35.9
53.6
10.9 12.4
Share Repurchase Expenditures
(billions of dollars)
4
3
2
1
06 07 08 09 10
2.5
2.6
3.6
0.6
0
0.8