For the year ending 2025-12-31, UPS had -$225M decrease in cash & cash equivalents over the period. $4,765M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 5,572 | 5,782 | 6,708 | 11,548 |
| Depreciation and amortization | 3,746 | 3,609 | 3,366 | 3,188 |
| Pension and postretirement benefit (income) expense | 1,009 | 1,698 | 1,330 | -129 |
| Pension and postretirement benefit contributions | 1,361 | 1,524 | 1,393 | 2,342 |
| Self-insurance reserves | 236 | 44 | 57 | -20 |
| Deferred tax (benefit) expense | -8 | -15 | 199 | 531 |
| Stock compensation expense | 73 | 24 | 220 | 1,568 |
| Other (gains) losses | -113 | -262 | -265 | -123 |
| Accounts receivable | 382 | 566 | -1,256 | 322 |
| Other assets | -65 | -70 | -87 | -117 |
| Accounts payable | -190 | 262 | -1,377 | 34 |
| Accrued wages and withholdings | 27 | 501 | -296 | -189 |
| Other liabilities | -517 | -11 | -42 | -9 |
| Other operating activities | -67 | 14 | 142 | -6 |
| Net cash from operating activities | 8,450 | 10,122 | 10,238 | 14,104 |
| Capital expenditures | 3,685 | 3,909 | 5,158 | 4,769 |
| Proceeds from disposal of businesses, property, plant and equipment | 700 | 1,115 | 193 | 12 |
| Purchases of marketable securities | 90 | 76 | 3,521 | 1,906 |
| Sales and maturities of marketable securities | 293 | 2,748 | 2,701 | 255 |
| Net change in finance receivables | - | - | - | -24 |
| Acquisitions, net of cash acquired | 1,968 | 71 | 1,329 | 755 |
| Other investing activities | -15 | 24 | 19 | 333 |
| Net cash used in investing activities | -4,735 | -217 | -7,133 | -7,472 |
| Net change in short-term debt | 0 | -1,272 | 1,272 | 0 |
| Proceeds from long-term borrowings | 4,153 | 2,785 | 3,429 | 0 |
| Repayments of long-term borrowings | 2,069 | 2,487 | 2,429 | 2,304 |
| Purchases of common stock | 1,000 | 500 | 2,250 | 3,500 |
| Issuances of common stock | 159 | 232 | 248 | 262 |
| Dividends | 5,398 | 5,399 | 5,372 | 5,114 |
| Other financing activities | 14 | -209 | -432 | -529 |
| Net cash used in financing activities | -4,141 | -6,850 | -5,534 | -11,185 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 201 | -149 | 33 | -100 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -225 | 2,906 | -2,396 | -4,653 |
| Cash and cash equivalents at beginning of period | 6,112 | 3,206 | 5,602 | 10,255 |
| Cash and cash equivalents at end of period | 5,887 | 6,112 | 3,206 | 5,602 |
UNITED PARCEL SERVICE INC (UPS)
UNITED PARCEL SERVICE INC (UPS)