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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
April 5, 2005
United Parcel Service, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-15451 58-2480149
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(State or other (Commission (IRS Employer
jurisdiction File Number) Identification Number)
of incorporation)
55 Glenlake Parkway, N.E.
Atlanta, Georgia 30328
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (404) 828-6000
Not applicable
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 7.01 REGULATION FD DISCLOSURE.
Beginning with our fiscal year that commenced on January 1, 2005, we have
changed our reporting segments to reflect recent changes in our business. Prior
to this change, our reporting segments were U.S. Domestic Package, International
Package and Non-package. Our reporting segments now are U.S. Domestic Package,
International Package and Supply Chain Solutions. The revised segment
information sets forth our restated consolidated financial information by
segment for each of the years in the four-year period ended December 31, 2004,
corresponding to our change in reporting segments. This change does not affect
our consolidated revenue, operating profit, net income or cash flows.
U.S. domestic package operations include the time-definite delivery of letters,
documents, and packages throughout the United States. The domestic portion of
the former excess value package insurance business has been discontinued and
replaced by a declared value product that is managed as part of this segment.
Consequently, the revenue and expenses in prior periods associated with the
domestic portion of the former excess value package insurance business have been
moved to the U.S. Domestic Package segment for comparative purposes. In
addition, intersegment operating profit previously included in the results of
our former Non-package segment has been eliminated within the U.S. domestic
package segment.
International package operations include the time-definite delivery of letters,
documents, and packages to more than 200 countries and territories worldwide,
including shipments wholly outside the U.S., as well as shipments with either
origin or destination outside the U.S. Our international package reporting
segment includes the operations of our Europe, Asia-Pacific, and Americas
regions. The international portion of the former excess value package insurance
business has been discontinued and replaced by a declared value product that is
managed as part of this segment. Consequently, the revenue and expenses in prior
periods associated with the international portion of the former excess value
package insurance business have been moved to the International Package segment
for comparative purposes.
Supply Chain Solutions includes our freight services and logistics operations
and other aggregated business units. Our freight services and logistics
operations are comprised of our former UPS Freight Services and UPS Logistics
Group, including the operations acquired with the purchase of Menlo Worldwide
Forwarding. Freight services and logistics includes supply chain design and
management, freight distribution and customs brokerage services. Other
aggregated business units within this segment include Mail Boxes, Etc. (the
franchisor of Mail Boxes, Etc. and The UPS Store), UPS Capital, mail, consulting
and professional services.
The revised segment information was posted on the investor relations page of our
website located at www.shareholder.com/ups on April 5, 2005 to provide
historical data in a format consistent with how we anticipate reporting first
quarter 2005 operating results later in April.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNITED PARCEL SERVICE, INC.
Date: April 5, 2005 By: /s/ D. Scott Davis
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Name: D. Scott Davis
Title: Senior Vice President,
Treasurer and Chief
Financial Officer