UPS 2014 Annual Report Download - page 12

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UNITED PARCEL SERVICE, INC.
ANNUAL REPORT ON FORM 10-K
TABLE OF CONTENTS
PART I
Item 1.
Item 1A.
Item 1B.
Item 2.
Item 3.
Item 4.
PART II
Item 5.
Item 6.
Item 7.
Item 7A.
Item 8.
Item 9.
Item 9A.
Item 9B.
PART III
Item 10.
Item 11.
Item 12.
Item 13.
Item 14.
PART IV
Item 15.
Business 1
Overview 1
Business Strategy 2
Technology 4
Reporting Segments and Products & Services 5
Sustainability 9
Community 10
Reputation 10
Employees 11
Safety 11
Competition 12
Competitive Strengths 12
Government Regulation 13
Where You Can Find More Information 14
Risk Factors 15
Unresolved Staff Comments 20
Properties 20
Operating Facilities 20
Fleet 21
Legal Proceedings 21
Mine Safety Disclosures 21
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22
Shareowner Return Performance Graph 23
Selected Financial Data 24
Management’s Discussion and Analysis of Financial Condition and Results of Operations 25
Overview 25
Items Affecting Comparability 26
U.S. Domestic Package Operations 29
International Package Operations 34
Supply Chain & Freight Operations 38
Operating Expenses 41
Investment Income and Interest Expense 45
Income Tax Expense 45
Liquidity and Capital Resources 46
New Accounting Pronouncements 54
Critical Accounting Policies and Estimates 54
Quantitative and Qualitative Disclosures about Market Risk 58
Financial Statements and Supplementary Data 60
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 116
Controls and Procedures 116
Other Information 118
Directors, Executive Officers and Corporate Governance 118
Executive Compensation 119
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 119
Certain Relationships and Related Transactions, and Director Independence 119
Principal Accounting Fees and Services 119
Exhibits and Financial Statement Schedules 120