UPS 2011 Annual Report Download - page 75

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2011 2010 2009
Revenue .......................................................... $53,105 $49,545 $45,297
Operating Expenses:
Compensation and benefits ....................................... 27,575 26,557 25,933
Repairs and maintenance ......................................... 1,286 1,131 1,075
Depreciation and amortization ..................................... 1,782 1,792 1,747
Purchased transportation ......................................... 7,232 6,640 5,379
Fuel .......................................................... 4,046 2,972 2,365
Other occupancy ................................................ 943 939 985
Other expenses ................................................. 4,161 3,873 4,305
Total Operating Expenses ............................................ 47,025 43,904 41,789
Operating Profit .................................................... 6,080 5,641 3,508
Other Income and (Expense):
Investment income .............................................. 44 3 10
Interest expense ................................................ (348) (354) (445)
Total Other Income and (Expense) ..................................... (304) (351) (435)
Income Before Income Taxes ......................................... 5,776 5,290 3,073
Income Tax Expense ................................................ 1,972 1,952 1,105
Net Income ........................................................ $ 3,804 $ 3,338 $ 1,968
Basic Earnings Per Share ............................................. $ 3.88 $ 3.36 $ 1.97
Diluted Earnings Per Share ........................................... $ 3.84 $ 3.33 $ 1.96
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME
(In millions)
Years Ended December 31,
2011 2010 2009
Net income ........................................................... $3,804 $3,338 $1,968
Change in foreign currency translation adjustment, net of tax ................... (92) (105) 75
Change in unrealized gain (loss) on marketable securities, net of tax .............. (6) 39 33
Change in unrealized gain (loss) on cash flow hedges, net of tax ................. 35 (39) (93)
Change in unrecognized pension and postretirement benefit costs, net of tax ....... (405) (813) 684
Comprehensive income ................................................. $3,336 $2,420 $2,667
See notes to consolidated financial statements.
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