Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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United Parcel Service Inc. pages available for free this week:
- Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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United Parcel Service Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The composition of liabilities and shareowners’ equity exhibited several notable trends over the observed period from March 2021 to December 2025. Overall, a shift in the balance between liabilities and equity is apparent, with fluctuations occurring within each category.
- Current Liabilities
- Current liabilities, as a percentage of total liabilities and shareowners’ equity, generally ranged between 20% and 26% throughout the period. A slight decrease is observed from 25.75% in March 2021 to a low of 20.88% in June 2022, followed by a recovery to 24.95% in September 2023, and a subsequent decline to 21.37% by December 2025. Accounts payable consistently represented a significant portion of current liabilities, fluctuating between approximately 8.5% and 10.9% before decreasing to around 9.1% by the end of the period. Accrued wages and withholdings showed a decreasing trend from 5.85% to 5.08% over the period, while self-insurance reserves experienced a modest increase from 1.74% to 1.56%.
- Non-Current Liabilities
- Non-current liabilities consistently comprised a larger portion of the total, generally between 50% and 63%. A noticeable downward trend is evident from 62.94% in March 2021 to 50.15% in September 2022, before stabilizing and increasing to 56.39% by December 2025. Long-term debt and finance leases, excluding current maturities, constituted the largest component of non-current liabilities, decreasing from 34.62% to 26.70% before rising to 32.18% by the end of the period. Pension and postretirement benefit obligations also represented a substantial portion, declining significantly from 15.15% to 6.76% and then increasing to 8.98% by December 2025. Deferred income tax liabilities remained relatively stable, fluctuating between 3.15% and 6.05%.
- Shareowners’ Equity
- Shareowners’ equity exhibited an increasing trend as a percentage of the total, rising from 11.31% in March 2021 to a peak of 27.84% in December 2024, before slightly decreasing to 22.24% by December 2025. Retained earnings consistently formed the largest component of equity, increasing from 16.98% to 30.68% and then decreasing to 27.57%. Accumulated other comprehensive loss showed a significant swing, moving from a negative 7.36% to a negative 2.24% before becoming more negative again at -5.76% by the end of the period. The proportion of Class A and Class B common stock remained consistently minimal.
The observed trends suggest a dynamic shift in the company’s financing structure. The initial decrease in the proportion of liabilities, coupled with the increase in equity, indicates a strengthening of the company’s financial position in the earlier part of the period. However, the subsequent increase in liabilities and slight decrease in equity towards the end of the period warrants further investigation. Fluctuations within specific liability and equity accounts suggest ongoing adjustments to the company’s financial management strategies.