UPS 2014 Annual Report Download - page 75

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63
UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED INCOME
(In millions, except per share amounts)
Years Ended December 31,
2014 2013 2012
Revenue $ 58,232 $ 55,438 $ 54,127
Operating Expenses:
Compensation and benefits 32,045 28,557 33,102
Repairs and maintenance 1,371 1,240 1,228
Depreciation and amortization 1,923 1,867 1,858
Purchased transportation 8,460 7,486 7,354
Fuel 3,883 4,027 4,090
Other occupancy 1,044 950 902
Other expenses 4,538 4,277 4,250
Total Operating Expenses 53,264 48,404 52,784
Operating Profit 4,968 7,034 1,343
Other Income and (Expense):
Investment income 22 20 24
Interest expense (353)(380)(393)
Total Other Income and (Expense) (331)(360)(369)
Income Before Income Taxes 4,637 6,674 974
Income Tax Expense 1,605 2,302 167
Net Income $ 3,032 $ 4,372 $ 807
Basic Earnings Per Share $ 3.31 $ 4.65 $ 0.84
Diluted Earnings Per Share $ 3.28 $ 4.61 $ 0.83
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
(In millions)
Years Ended December 31,
2014 2013 2012
Net income $ 3,032 $ 4,372 $ 807
Change in foreign currency translation adjustment, net of tax (331)(260) 294
Change in unrealized gain (loss) on marketable securities, net of tax 1 (7)—
Change in unrealized gain (loss) on cash flow hedges, net of tax 280 67 (82)
Change in unrecognized pension and postretirement benefit costs, net of tax (3,084) 3,094 (463)
Comprehensive income (loss) $ (102) $ 7,266 $ 556
See notes to consolidated financial statements.