UPS » Topics » Cash and Cash Equivalents

These excerpts taken from the UPS 10-K filed Feb 27, 2009.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

Restricted cash and cash equivalents relate to our self-insurance requirements. In 2008, we entered into an escrow agreement with an insurance carrier to guarantee our self-insurance obligations. This agreement required us to provide $191 million in collateral to the insurance carrier, which is classified as “other non-current assets” on our consolidated balance sheet as of December 31, 2008, and in “other investing activities” in the cash flow statement. This restricted cash is invested in money market funds and similar cash equivalent type assets.

 

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Cash and Cash Equivalents

FACE="Times New Roman" SIZE="2">Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The
carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

Restricted cash and
cash equivalents relate to our self-insurance requirements. In 2008, we entered into an escrow agreement with an insurance carrier to guarantee our self-insurance obligations. This agreement required us to provide $191 million in collateral to the
insurance carrier, which is classified as “other non-current assets” on our consolidated balance sheet as of December 31, 2008, and in “other investing activities” in the cash flow statement. This restricted cash is invested
in money market funds and similar cash equivalent type assets.

 


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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES

STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


These excerpts taken from the UPS 10-K filed Feb 29, 2008.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

Cash and Cash Equivalents

FACE="Times New Roman" SIZE="2">Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The
carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

This excerpt taken from the UPS 10-K filed Mar 1, 2007.

Cash and Cash Equivalents

 

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

 

This excerpt taken from the UPS 10-K filed Mar 14, 2006.

Cash and Cash Equivalents

 

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

 

This excerpt taken from the UPS 8-K filed May 17, 2005.

Cash and Cash Equivalents

 

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

 

In 2004, we began classifying all auction rate preferred and debt instruments as marketable securities. Previously, such securities were classified as cash equivalents if the auction reset periods were three months or less. Auction rate securities held at December 31, 2003 totaling $1.887 billion were reclassified from cash equivalents into marketable securities for consistent presentation on our consolidated balance sheet.

 

This excerpt taken from the UPS 10-K filed Mar 14, 2005.

Cash and Cash Equivalents

 

Cash and cash equivalents consist of highly liquid investments that are readily convertible into cash. We consider securities with maturities of three months or less, when purchased, to be cash equivalents. The carrying amount of these securities approximates fair value because of the short-term maturity of these instruments.

 

In 2004, we began classifying all auction rate preferred and debt instruments as marketable securities. Previously, such securities were classified as cash equivalents if the auction reset periods were three months or less. Auction rate securities held at December 31, 2003 totaling $1.887 billion were reclassified from cash equivalents into marketable securities for consistent presentation on our consolidated balance sheet.

 

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