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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
102
Geographic information as of, and for the years ended, December 31 is as follows (in millions):
2013 2012 2011
United States:
Revenue $ 41,772 $ 40,428 $ 39,347
Long-lived assets $ 15,651 $ 16,262 $ 16,085
International:
Revenue $ 13,666 $ 13,699 $ 13,758
Long-lived assets $ 6,297 $ 5,312 $ 5,220
Consolidated:
Revenue $ 55,438 $ 54,127 $ 53,105
Long-lived assets $ 21,948 $ 21,574 $ 21,305
Long-lived assets include property, plant and equipment, pension and postretirement benefit assets, long-term
investments, goodwill, and intangible assets.
No countries outside of the United States, nor any individual customers, provided 10% or more of consolidated revenue
for the years ended December 31, 2013, 2012 or 2011.
NOTE 12. INCOME TAXES
The income tax expense (benefit) for the years ended December 31 consists of the following (in millions):
2013 2012 2011
Current:
U.S. Federal $ 2,181 $ 1,901 $ 1,371
U.S. State and Local 205 182 121
Non-U.S. 162 167 166
Total Current 2,548 2,250 1,658
Deferred:
U.S. Federal (242)(1,871) 262
U.S. State and Local (22)(201) 44
Non-U.S. 18 (11) 8
Total Deferred (246)(2,083) 314
Total $ 2,302 $ 167 $ 1,972
Income before income taxes includes the following components (in millions):
2013 2012 2011
United States $ 6,040 $ 384 $ 5,309
Non-U.S. 634 590 467
$ 6,674 $ 974 $ 5,776
A reconciliation of the statutory federal income tax rate to the effective income tax rate for the years ended December 31
consists of the following:
2013 2012 2011
Statutory U.S. federal income tax rate 35.0% 35.0% 35.0%
U.S. state and local income taxes (net of federal benefit) 2.1 — 2.0
Non-U.S. tax rate differential (1.3)(6.1)(0.4)
Nondeductible/nontaxable items (0.2)(0.4)(0.1)
U.S. federal tax credits (1.2)(7.4)(1.7)
Other 0.1 (4.0)(0.7)
Effective income tax rate 34.5% 17.1% 34.1%