Exhibit 12

United Parcel Service, Inc. and Subsidiaries

Ratio of Earnings to Fixed Charges

	Six months Ended June 30,		Year Ended December 31,
	2011		2010		2009		2008		2007		2006
Earnings:
Income before income taxes	$	2,976	$	5,523	$	3,366	$	5,015	$	431	$	6,510
Add: Interest expense		168		354		445		442		246		211
Add: Interest factor in rental expense		102		205		207		278		296		304
Total earnings	$	3,246	$	6,082	$	4,018	$	5,735	$	973	$	7,025
Fixed charges:
Interest expense	$	168	$	354	$	445	$	442	$	246	$	211
Interest capitalized		8		18		37		48		67		48
Interest factor in rental expense		102		205		207		278		296		304
Total fixed charges	$	278	$	577	$	689	$	768	$	609	$	563
Ratio of earnings to fixed charges		11.7		10.5		5.8		7.5		1.6		12.5