UPS 2015 Annual Report Download - page 136

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures:
As of the end of the period covered by this report, management, including our chief executive officer and chief financial
officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures and internal controls
over financial reporting. The scope of their assessment of the effectiveness of our disclosure controls and procedures does not
include any disclosure controls or procedures of Coyote, which was acquired in August 2015, that are also part of Coyote's
internal controls over financial reporting. The acquired business constituted approximately three percent of total assets, one
percent of revenues, and less than one percent of net income of the consolidated financial statement amounts as of and for the
year ended December 31, 2015. Further discussion of this acquisition can be found in note 7 "Business Acquisitions" to our
consolidated financial statements. This exclusion is in accordance with the SEC's general guidance that a recently acquired
business may be omitted from the scope of the assessment in the year of acquisition. Based upon, and as of the date of, the
evaluation, our chief executive officer and chief financial officer concluded that the disclosure controls and procedures were
effective to ensure that information required to be disclosed in the reports we file and submit under the Exchange Act is
recorded, processed, summarized and reported as and when required and is accumulated and communicated to our
management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.
Changes in Internal Control:
There were no changes in the Company’s internal controls over financial reporting during the quarter ended December 31,
2015 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial
reporting.
Management’s Report on Internal Control Over Financial Reporting:
UPS management is responsible for establishing and maintaining adequate internal controls over financial reporting for
United Parcel Service, Inc. and its subsidiaries (the “Company”). Management assessed the effectiveness of the Company's
internal control over financial reporting as of December 31, 2015. The scope of management's assessment of the effectiveness
of internal control over financial reporting includes all of the Company's businesses except for the Coyote Logistics Midco, Inc.
business acquired in August 2015. The acquired business constituted approximately three percent of total assets, one percent of
revenues, and less than one percent of net income of the consolidated financial statement amounts as of and for the year ended
December 31, 2015. Further discussion of this acquisition can be found in note 7 "Business Acquisitions" to our consolidated
financial statements. Based on the criteria for effective internal control over financial reporting established in Internal Control-
Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission,
management has assessed the Company’s internal control over financial reporting as effective as of December 31, 2015. The
independent registered public accounting firm of Deloitte & Touche LLP, as auditors of the consolidated balance sheets of
United Parcel Service, Inc. and its subsidiaries as of December 31, 2015 and the related statements of consolidated income,
consolidated comprehensive income and consolidated cash flows for the year ended December 31, 2015, has issued an
attestation report on the Company’s internal control over financial reporting, which is included herein.
/s/ United Parcel Service, Inc.
February 24, 2016