Homework Help is Here – Start Your Trial Now!
Business
Accounting
What amount of total assets does the company report on its balance sheet? What amount of total liabilities does the company report on its balance sheet?

What amount of total assets does the company report on its balance sheet? What amount of total liabilities does the company report on its balance sheet?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 82E
See similar textbooks
icon
Related questions
Question
What amount of total assets does the company report on its balance sheet? What amount of total liabilities does the company report on its balance sheet?
Item 6. Selected Financial Data The following table sets forth selected financial data for each of the five years in the period ended December 31, 2020 (in millions, except per share amounts). This financial data should be read together with our consolidated financial statements and related notes, Management's Discussion and Analysis of Financial Condition and Results of Operations, including the Supplemental Information - Items Affecting Comparability section, and other financial data appearing elsewhere in this report. Years Ended December 31, 2020 2019 2018 2017 2016 Selected Income Statement Data Revenue: U.S. Domestic Package International Package Supply Chain & Freight 46,493 S 43,593 S 14,442 38,284 12,346 $ 53,499 $ 40,761 $ 15,945 14,220 13,342 15,184 13,381 13,826 12,482 10,980 Total Revenue 84,628 74,094 71,861 66,585 61,610 Operating Expenses: Compensation and benefits Other 44,529 38,908 37,235 34,577 32,534 32,415 27,388 27,602 24,479 21,388 Total Operating Expenses Operating Profit: U.S. Domestic Package International Package 76,944 66,296 64,837 59,056 53,922 3,891 4,164 3,643 4,303 4,628 3,436 2,657 2,529 2,429 2,417 Supply Chain & Freight 357 977 852 797 643 Total Operating Profit Other Income and (Expense): 7,684 7,798 7,024 7,529 7,688 Investment income (expense) and other (5,139) (1,493) (400) 61 (2,186) Interest expense (701) (653) (605) (453) (381) Income Before Income Taxes 1,844 5,652 6,019 7,137 5,121 Income Tax Expense 501 1,212 1,228 2.232 1,699 Net Income 2$ 1,343 $ 4,440 S 4,791 S 4,905 $ 3,422 Per Share Amounts: Basic Earnings Per Share Diluted Earnings Per Share Dividends Declared Per Share 1.55 $ 5.14 S 5.53 S 5.63 $ 3.88 5.61 $ 3.32 $ 1.54 $ 5.11 S 5.51 S 3.86 $ 4.04 $ 3.84 S 3.64 S 3.12 Weighted Average Shares Outstanding: Basic 867 864 866 871 883 Diluted 871 869 870 875 887 As of December 31. 2020 2019 2018 2017 2016 Selected Balance Sheet Data: Cash and marketable securities 2$ 6,316 $ 5,741 S 5,035 S 4,069 $ 4,567 Total assets 62,408 57,857 50,016 45,574 40,545 Long-term debt and finance leases Shareowners' equity 22,031 21,818 19,931 20,278 12,394 669 3,283 3,037 1,024 430 This table reflects the impact of the adoption of new accounting standards in 2018 and 2019. Refer to note I to the audited, consolidated financial statements.
Transcribed Image Text:Item 6. Selected Financial Data The following table sets forth selected financial data for each of the five years in the period ended December 31, 2020 (in millions, except per share amounts). This financial data should be read together with our consolidated financial statements and related notes, Management's Discussion and Analysis of Financial Condition and Results of Operations, including the Supplemental Information - Items Affecting Comparability section, and other financial data appearing elsewhere in this report. Years Ended December 31, 2020 2019 2018 2017 2016 Selected Income Statement Data Revenue: U.S. Domestic Package International Package Supply Chain & Freight 46,493 S 43,593 S 14,442 38,284 12,346 $ 53,499 $ 40,761 $ 15,945 14,220 13,342 15,184 13,381 13,826 12,482 10,980 Total Revenue 84,628 74,094 71,861 66,585 61,610 Operating Expenses: Compensation and benefits Other 44,529 38,908 37,235 34,577 32,534 32,415 27,388 27,602 24,479 21,388 Total Operating Expenses Operating Profit: U.S. Domestic Package International Package 76,944 66,296 64,837 59,056 53,922 3,891 4,164 3,643 4,303 4,628 3,436 2,657 2,529 2,429 2,417 Supply Chain & Freight 357 977 852 797 643 Total Operating Profit Other Income and (Expense): 7,684 7,798 7,024 7,529 7,688 Investment income (expense) and other (5,139) (1,493) (400) 61 (2,186) Interest expense (701) (653) (605) (453) (381) Income Before Income Taxes 1,844 5,652 6,019 7,137 5,121 Income Tax Expense 501 1,212 1,228 2.232 1,699 Net Income 2$ 1,343 $ 4,440 S 4,791 S 4,905 $ 3,422 Per Share Amounts: Basic Earnings Per Share Diluted Earnings Per Share Dividends Declared Per Share 1.55 $ 5.14 S 5.53 S 5.63 $ 3.88 5.61 $ 3.32 $ 1.54 $ 5.11 S 5.51 S 3.86 $ 4.04 $ 3.84 S 3.64 S 3.12 Weighted Average Shares Outstanding: Basic 867 864 866 871 883 Diluted 871 869 870 875 887 As of December 31. 2020 2019 2018 2017 2016 Selected Balance Sheet Data: Cash and marketable securities 2$ 6,316 $ 5,741 S 5,035 S 4,069 $ 4,567 Total assets 62,408 57,857 50,016 45,574 40,545 Long-term debt and finance leases Shareowners' equity 22,031 21,818 19,931 20,278 12,394 669 3,283 3,037 1,024 430 This table reflects the impact of the adoption of new accounting standards in 2018 and 2019. Refer to note I to the audited, consolidated financial statements.
UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) December 31, 2020 2019 ASSETS Current Assets: Cash and cash equivalents 5,910 $ 5,238 Marketable securities 406 503 Accounts receivable 10,888 9,645 Less: Allowance for credit losses (138) (93) Accounts receivable, net 10,750 9,552 Assets held for sale 1,197 Other current assets 1,953 1,810 Total Current Assets 20,216 17,103 Property, Plant and Equipment, Net Operating Lease Right-Of-Use Assets Goodwill 32,254 30,482 3,073 2,856 3,367 3,813 Intangible Assets, Net Investments and Restricted Cash 2,274 2,167 25 24 Deferred Income Tax Assets 527 330 Other Non-Current Assets 672 1,082 Total Assets 62,408 $ 57,857 LIABILITIES AND SHAREOWNERS' EQUITY Current Liabilities: Current maturities of long-term debt, commercial paper and finance leases 2,623 $ 3,420 Current maturities of operating leases Accounts payable Accrued wages and withholdings 560 538 6,455 5,555 3,569 2,552 Self-insurance reserves 1,085 914 Accrued group welfare and retirement plan contributions Liabilities to be disposed of Other current liabilities 927 793 347 1,450 1,641 Total Current Liabilities 17,016 15,413 Long-Term Debt and Finance Leases Non-Current Operating Leases Pension and Postretirement Benefit Obligations 22,031 21,818 2,540 15,817 2,391 10,601 Deferred Income Tax Liabilities 488 1,632 Other Non-Current Liabilities 3,847 2,719 Shareowners' Equity: Class A common stock (147 and 156 shares issued in 2020 and 2019) 2 2 Class B common stock (718 and 701 shares issued in 2020 and 2019) Additional paid-in capital Retained earnings Accumulated other comprehensive loss Deferred compensation obligations 7 7 865 150 6,896 9,105 (7,113) (5,997) 20 26 Less: Treasury stock (0.4 shares in 2020 and 2019) (20) (26) Total Equity for Controlling Interests Noncontrolling Interests Total Shareowners' Equity 657 3,267 12 16 669 3,283 Total Liabilities and Shareowners' Equity 62,408 $ 57,857
Transcribed Image Text:UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions) December 31, 2020 2019 ASSETS Current Assets: Cash and cash equivalents 5,910 $ 5,238 Marketable securities 406 503 Accounts receivable 10,888 9,645 Less: Allowance for credit losses (138) (93) Accounts receivable, net 10,750 9,552 Assets held for sale 1,197 Other current assets 1,953 1,810 Total Current Assets 20,216 17,103 Property, Plant and Equipment, Net Operating Lease Right-Of-Use Assets Goodwill 32,254 30,482 3,073 2,856 3,367 3,813 Intangible Assets, Net Investments and Restricted Cash 2,274 2,167 25 24 Deferred Income Tax Assets 527 330 Other Non-Current Assets 672 1,082 Total Assets 62,408 $ 57,857 LIABILITIES AND SHAREOWNERS' EQUITY Current Liabilities: Current maturities of long-term debt, commercial paper and finance leases 2,623 $ 3,420 Current maturities of operating leases Accounts payable Accrued wages and withholdings 560 538 6,455 5,555 3,569 2,552 Self-insurance reserves 1,085 914 Accrued group welfare and retirement plan contributions Liabilities to be disposed of Other current liabilities 927 793 347 1,450 1,641 Total Current Liabilities 17,016 15,413 Long-Term Debt and Finance Leases Non-Current Operating Leases Pension and Postretirement Benefit Obligations 22,031 21,818 2,540 15,817 2,391 10,601 Deferred Income Tax Liabilities 488 1,632 Other Non-Current Liabilities 3,847 2,719 Shareowners' Equity: Class A common stock (147 and 156 shares issued in 2020 and 2019) 2 2 Class B common stock (718 and 701 shares issued in 2020 and 2019) Additional paid-in capital Retained earnings Accumulated other comprehensive loss Deferred compensation obligations 7 7 865 150 6,896 9,105 (7,113) (5,997) 20 26 Less: Treasury stock (0.4 shares in 2020 and 2019) (20) (26) Total Equity for Controlling Interests Noncontrolling Interests Total Shareowners' Equity 657 3,267 12 16 669 3,283 Total Liabilities and Shareowners' Equity 62,408 $ 57,857
Expert Solution
Step 1

Balance sheet refers to the financial statement or sheet which is made by business for a period of one year and this statement states the financial performance of the company.    

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Earnings Quality, Measurement and Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS