QUARTERLY INFORMATION (unaudited) |
QUARTERLY INFORMATION (UNAUDITED) Our revenue, segment operating profit, other income and (expense), net income, basic and diluted earnings per share on a quarterly basis are presented below (in millions, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | First Quarter | | Second Quarter | | Third Quarter | | Fourth Quarter | | 2019 | | 2018 | | 2019 | | 2018 | | 2019 | | 2018 | | 2019 | | 2018 | Revenue: | | | | | | | | | | | | | | | | U.S. Domestic Package | $ | 10,480 |
| | $ | 10,227 |
| | $ | 11,150 |
| | $ | 10,354 |
| | $ | 11,455 |
| | $ | 10,437 |
| | $ | 13,408 |
| | $ | 12,575 |
| International Package | 3,459 |
| | 3,533 |
| | 3,505 |
| | 3,602 |
| | 3,494 |
| | 3,478 |
| | 3,762 |
| | 3,829 |
| Supply Chain & Freight | 3,221 |
| | 3,353 |
| | 3,393 |
| | 3,500 |
| | 3,369 |
| | 3,529 |
| | 3,398 |
| | 3,444 |
| Total revenue | 17,160 |
| | 17,113 |
| | 18,048 |
| | 17,456 |
| | 18,318 |
| | 17,444 |
| | 20,568 |
| | 19,848 |
| Operating Profit: | | | | | | | | | | | | | | | | U.S. Domestic Package | 666 |
| | 756 |
| | 1,208 |
| | 939 |
| | 1,216 |
| | 949 |
| | 1,074 |
| | 999 |
| International Package | 528 |
| | 594 |
| | 663 |
| | 618 |
| | 667 |
| | 536 |
| | 799 |
| | 781 |
| Supply Chain & Freight | 200 |
| | 170 |
| | 272 |
| | 216 |
| | 245 |
| | 242 |
| | 260 |
| | 224 |
| Total operating profit | 1,394 |
| | 1,520 |
| | 2,143 |
| | 1,773 |
| | 2,128 |
| | 1,727 |
| | 2,133 |
| | 2,004 |
| Total Other Income and (Expense) | $ | 46 |
| | $ | 141 |
| | $ | 61 |
| | $ | 153 |
| | $ | 78 |
| | $ | 162 |
| | $ | (2,331 | ) | | $ | (1,461 | ) | | | | | | | | | | | | | | | | | Net Income | $ | 1,111 |
| | $ | 1,345 |
| | $ | 1,685 |
| | $ | 1,485 |
| | $ | 1,750 |
| | $ | 1,508 |
| | $ | (106 | ) | | $ | 453 |
| Net Income Per Share: | | | | | | | | | | | | | | | | Basic | $ | 1.28 |
| | $ | 1.55 |
| | $ | 1.95 |
| | $ | 1.71 |
| | $ | 2.03 |
| | $ | 1.74 |
| | $ | (0.12 | ) | | $ | 0.52 |
| Diluted | $ | 1.28 |
| | $ | 1.55 |
| | $ | 1.94 |
| | $ | 1.71 |
| | $ | 2.01 |
| | $ | 1.73 |
| | $ | (0.12 | ) | | $ | 0.52 |
|
Our quarterly results were impacted by transformation strategy costs, legal contingencies and expenses and defined benefit plan 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 | | 2019 | | 2018 | | 2019 | | 2018 | | 2019 | | 2018 | | 2019 | | 2018 | | | | | | | | | | | | | | | | | Impact to Operating Profit | | | | | | | | | | | | | | | | Transformation Strategy - Employee Benefits | $ | 106 |
| | $ | — |
| | $ | 2 |
| | $ | 192 |
| | $ | 41 |
| | $ | 70 |
| | $ | 17 |
| | $ | — |
| Transformation Strategy - Other Costs | 17 |
| | — |
| | 19 |
| | 71 |
| | 22 |
| | 27 |
| | 31 |
| | — |
| Legal Contingencies and Expenses | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 97 |
| | — |
| | | | | | | | | | | | | | | | | Allocation of Matters Impacting Operating Profit to Segments | | | | | | | | | | | | | | | | U.S. Domestic Package | $ | 28 |
| | — |
| | 18 |
| | 196 |
| | 26 |
| | 39 |
| | 133 |
| | — |
| International Package | 84 |
| | — |
| | 2 |
| | 36 |
| | 26 |
| | 40 |
| | 10 |
| | — |
| Supply Chain & Freight | 11 |
| | — |
| | 1 |
| | 31 |
| | 11 |
| | 18 |
| | 2 |
| | — |
| | | | | | | | | | | | | | | | | Impact to Other Income and (Expense) | | | | | | | | | | | | | | | | Defined Benefit Plan Mark-to-Market Charges | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 2,387 |
| | $ | 1,627 |
|
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