XML 46 R25.htm IDEA: XBRL DOCUMENT
v3.20.4

QUARTERLY INFORMATION (unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY INFORMATION (unaudited) | QUARTERLY INFORMATION (UNAUDITED) Our segment revenue, segment operating profit, other income and (expense), net income (loss), basic and diluted earnings (loss) per share on a quarterly basis are presented below (in millions, except per share amounts):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Domestic Package | $ | 11,456 |  |  | $ | 10,480 |  |  | $ | 13,074 |  |  | $ | 11,150 |  |  | $ | 13,225 |  |  | $ | 11,455 |  |  | $ | 15,744 |  |  | $ | 13,408 |
International Package | 3,383 |  |  | 3,459 |  |  | 3,705 |  |  | 3,505 |  |  | 4,087 |  |  | 3,494 |  |  | 4,770 |  |  | 3,762 |
Supply Chain & Freight | 3,196 |  |  | 3,221 |  |  | 3,680 |  |  | 3,393 |  |  | 3,926 |  |  | 3,369 |  |  | 4,382 |  |  | 3,398 |
Total revenue | 18,035 |  |  | 17,160 |  |  | 20,459 |  |  | 18,048 |  |  | 21,238 |  |  | 18,318 |  |  | 24,896 |  |  | 20,568 |
Operating Profit (Loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Domestic Package | 364 |  |  | 666 |  |  | 1,182 |  |  | 1,208 |  |  | 1,098 |  |  | 1,216 |  |  | 1,247 |  |  | 1,074 |
International Package | 551 |  |  | 528 |  |  | 771 |  |  | 663 |  |  | 966 |  |  | 667 |  |  | 1,148 |  |  | 799 |
Supply Chain & Freight | 157 |  |  | 200 |  |  | 259 |  |  | 272 |  |  | 299 |  |  | 245 |  |  | (358) |  |  | 260 |
Total operating profit | 1,072 |  |  | 1,394 |  |  | 2,212 |  |  | 2,143 |  |  | 2,363 |  |  | 2,128 |  |  | 2,037 |  |  | 2,133 |
Total Other Income and (Expense) | $ | 178 |  |  | $ | 46 |  |  | $ | 145 |  |  | $ | 61 |  |  | $ | 162 |  |  | $ | 78 |  |  | $ | (6,325) |  |  | $ | (2,331) |
Net Income (Loss) | $ | 965 |  |  | $ | 1,111 |  |  | $ | 1,768 |  |  | $ | 1,685 |  |  | $ | 1,957 |  |  | $ | 1,750 |  |  | $ | (3,347) |  |  | $ | (106) |
Net Income (Loss) Per Share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic Earnings (Loss) Per Share | $ | 1.12 |  |  | $ | 1.28 |  |  | $ | 2.04 |  |  | $ | 1.95 |  |  | $ | 2.25 |  |  | $ | 2.03 |  |  | $ | (3.84) |  |  | $ | (0.12) |
Diluted Earnings (Loss) Per Share | $ | 1.11 |  |  | $ | 1.28 |  |  | $ | 2.03 |  |  | $ | 1.94 |  |  | $ | 2.24 |  |  | $ | 2.01 |  |  | $ | (3.84) |  |  | $ | (0.12) |
Our quarterly results were impacted by restructuring and other costs, legal contingencies and expenses and defined benefit plans mark-to-market charges. The table below presents the impact on operating profit and other income and (expense) for each period (in millions, except per share amounts):
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Impact to Operating Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring & Other - Employee Benefits | $ | 12 |  |  | $ | 106 |  |  | $ | 81 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 41 |  |  | $ | 100 |  |  | $ | 17 |
Restructuring & Other - Other Costs | 33 |  |  | 17 |  |  | 31 |  |  | 19 |  |  | 26 |  |  | 22 |  |  | 47 |  |  | 31 |
Restructuring & Other - Impairment Charges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 686 |  |  | — |
Legal Contingencies and Expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 97 |
Allocation of Matters Impacting Operating Profit to Segments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Domestic Package | $ | 37 |  |  | $ | 28 |  |  | $ | 33 |  |  | $ | 18 |  |  | $ | 35 |  |  | $ | 26 |  |  | $ | 132 |  |  | $ | 133 |
International Package | 7 |  |  | 84 |  |  | 71 |  |  | 2 |  |  | 6 |  |  | 26 |  |  | 12 |  |  | 10 |
Supply Chain & Freight | 1 |  |  | 11 |  |  | 8 |  |  | 1 |  |  | 3 |  |  | 11 |  |  | 689 |  |  | 2 |
Impact to Other Income and (Expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Defined Benefit Plans Mark-to-Market Charges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,484 |  |  | $ | 2,387 |

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration