QUARTERLY INFORMATION (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

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