UPS · 10-Q · 2026Q3 · Full report

Interest Rate Environment

UNITED PARCEL SERVICE INC · 2026-11-04 · Importance 27 · Surprise 40

UPS reported average commercial paper interest rates of 3.49% for the nine months ended September 30, 2026, compared with 4.01% for the same period in 2025, a decline of more than 10%. Average commercial paper balances were $47 million and $63 million, respectively. The company said commercial paper outstanding in the remainder of 2026 is expected to fluctuate with daily liquidity needs.

Key facts

• UPS's average commercial paper balance was $47 million in the nine months ended September 30, 2026, compared with $63 million in 2025; average interest rates were 3.49% and 4.01%, respectively. source