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Share Name | Share Symbol | Market | Type |
---|---|---|---|
United Parcel Service | NYSE:UPS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.18 | 0.81% | 147.10 | 147.81 | 146.58 | 147.69 | 2,039,029 | 01:00:00 |
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ý
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
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B.
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Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Explanatory Note:
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The UPS 401(k) Savings Plan (the "Plan") is an employee voluntary and plan sponsor contributory defined contribution plan established for employees of United Parcel Service of America, Inc. ("UPS") who are not members of a collective bargaining unit and who satisfy the participation requirements of the Plan.
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Page
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FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016:
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NOTE:
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All other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
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2017
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2016
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ASSETS:
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Participant-directed investments — at fair value (Note 3)
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$
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8,840,265
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$
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7,697,046
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Receivables:
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Notes receivable from participants
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41,905
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40,740
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Participant contributions
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18,137
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2,437
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Employer contributions
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47,369
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31,918
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Investment income
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171
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267
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Total receivables
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107,582
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75,362
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Total assets
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8,947,847
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7,772,408
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LIABILITIES:
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Accounts payable
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3,087
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2,099
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Total liabilities
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3,087
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2,099
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NET ASSETS AVAILABLE FOR BENEFITS
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$
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8,944,760
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$
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7,770,309
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2017
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2016
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NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year
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$
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7,770,309
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$
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6,831,219
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INCREASE IN PLAN ASSETS ATTRIBUTED TO:
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Participant contributions
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346,297
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314,491
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Employer contributions (Note 1)
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131,475
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108,110
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Participant rollovers
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18,706
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10,221
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Interest and dividend income
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49,432
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48,381
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Total additions
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545,910
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481,203
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DECREASE IN PLAN ASSETS ATTRIBUTED TO:
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Benefits to Plan participants
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(427,087
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)
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(383,205
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)
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Administrative expenses (Note 2)
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(9,230
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)
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(8,346
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)
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Total deductions
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(436,317
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)
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(391,551
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)
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OTHER CHANGES IN NET ASSETS — Net appreciation in fair value
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of investments
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1,064,858
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814,681
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NET INCREASE IN NET PLAN ASSETS — Before plan transfers
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1,174,451
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904,333
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NET TRANSFERS INTO PLAN:
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Transfers due to plan merger (Note 1)
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—
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34,757
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NET INCREASE IN NET ASSETS
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1,174,451
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939,090
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NET ASSETS AVAILABLE FOR BENEFITS — End of year
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$
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8,944,760
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$
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7,770,309
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1.
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DESCRIPTION OF THE PLAN
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•
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Participants may elect to contribute up to 50% of their eligible compensation on a pretax basis or as a Roth 401(k), or any combination of the two, to the Plan.
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•
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Participants may defer up to 100% on a pretax basis of a Management Incentive Program (MIP)/International Management Incentive Program (IMIP) cash award. MIP/IMIP is part of the UPS Incentive Compensation Plan and participants are determined annually by the Compensation Committee of the UPS Board of Directors.
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Participants may elect to defer up to 100% of their discretionary day payout on a pretax basis, to the Roth 401(k), or any combination of the two.
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Participants may defer up to 100% of eligible compensation attributable to the Sales Incentive Program (SIP) bonus program on a pretax basis or to the Roth 401(k).
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Participants who are employed by Coyote Logistics, LLC may defer up to 100% of eligible compensation attributable to certain bonuses on a pre-tax basis or to the Roth 401(k).
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Participants may contribute an additional 5% of their eligible compensation on an after-tax basis to the Plan.
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•
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Participants age 50 and older or who will turn 50 during the Plan year are allowed to make pre-tax or Roth 401(k) catch-up contributions, up to an additional 35% of their eligible compensation subject to a maximum of $6,000 for
2017
. The maximum catch-up contribution may be indexed each year for inflation.
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2.
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SIGNIFICANT ACCOUNTING POLICIES
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2017
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2016
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Investment advisory and management fees
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$
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1,888
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$
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1,532
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Plan administrator fees
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3,443
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3,576
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Personal advisor fees
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3,899
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3,238
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Total administrative expenses
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$
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9,230
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$
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8,346
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3.
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FAIR VALUE MEASUREMENTS
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Fair Value Measurements at December 31, 2017
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Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
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Significant
Other
Observable
Inputs
(Level 2)
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Significant
Unobservable
Inputs
(Level 3)
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Total
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Self-managed accounts*:
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Common stock
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$
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307,372
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$
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—
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$
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—
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$
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307,372
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Mutual funds
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53,320
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—
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—
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53,320
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Interest-bearing cash
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2,084
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—
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—
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2,084
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Common and collective trusts:
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Equity funds
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—
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4,224,811
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—
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4,224,811
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Fixed-income funds
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—
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715,765
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—
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715,765
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Lifestyle funds
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—
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1,265,475
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—
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1,265,475
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Multi-asset funds
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—
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343,142
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—
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343,142
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U.S. government securities
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—
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301,060
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—
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301,060
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UPS Stock Fund
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1,627,236
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—
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—
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1,627,236
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Total investments — at fair value
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$
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1,990,012
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$
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6,850,253
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$
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—
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$
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8,840,265
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Fair Value Measurements at December 31, 2016
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Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
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Significant
Other
Observable
Inputs
(Level 2)
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Significant
Unobservable
Inputs
(Level 3)
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Total
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Self-managed accounts*:
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Common stock
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$
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252,301
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$
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—
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$
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—
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$
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252,301
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Mutual funds
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42,456
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—
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—
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42,456
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Interest-bearing cash
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389
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—
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—
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389
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Common and collective trusts:
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Equity funds
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—
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3,521,718
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—
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3,521,718
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Fixed-income funds
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—
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628,525
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—
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628,525
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Lifestyle funds
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—
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1,015,741
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—
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1,015,741
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Multi-asset funds
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—
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331,570
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—
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331,570
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U.S. government securities
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—
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313,767
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—
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313,767
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UPS Stock Fund
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1,590,579
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—
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—
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1,590,579
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Total investments — at fair value
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$
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1,885,725
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$
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5,811,321
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$
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—
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$
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7,697,046
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4.
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FEDERAL INCOME TAX STATUS
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5.
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PARTY-IN-INTEREST TRANSACTIONS
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6.
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RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
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2017
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2016
|
||||
Net assets available for benefits per the financial statements
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$
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8,944,760
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$
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7,770,309
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Adjustment for deemed distributions from participant loans
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(1,023
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)
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(1,089
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)
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Net assets available for benefits per Form 5500
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$
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8,943,737
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$
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7,769,220
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Net increase in plan assets per the financial statements
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$
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1,174,451
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$
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904,333
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Adjustment for deemed distribution income from participant loans
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65
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4
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Total income per Form 5500
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$
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1,174,516
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$
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904,337
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*
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Party-in-interest
|
**
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Cost information is not required as all investments are participant-directed
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UPS 401(k) Savings Plan
|
||
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Date:
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June 25, 2018
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By:
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/
S
/ DANIEL H. DISMUKES
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Daniel H. Dismukes
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Administrative Committee Member
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1 Year United Parcel Service Chart |
1 Month United Parcel Service Chart |
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