UPS 2015 Annual Report Download - page 135

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
123
• A pre-tax charge of $36 million associated with the remeasurement and settlement of postretirement health and welfare
benefit obligations for certain employees covered by collective bargaining agreements (allocated as follows—U.S.
Domestic Package $33 million, International Package $1 million, Supply Chain & Freight $2 million). This charge
reduced net income by $22 million, and basic and diluted earnings per share by $0.02.
Operating profit for the quarter ended June 30, 2014 was impacted by a pre-tax charge of $1.066 billion associated with
curtailment, remeasurement and settlement of postretirement health and welfare benefit obligations for certain employees
covered by collective bargaining agreements (allocated as follows—U.S. Domestic Package $957 million, International
Package $27 million, Supply Chain & Freight $82 million). This charge reduced net income by $665 million, and basic and
diluted earnings per share by $0.73 and $0.72, respectively.
The curtailment, remeasurement and settlement charges described above that impacted the quarters ended June 30, 2014
and December 31, 2014 are discussed further in note 5.