Federal Express 2001 Annual Report Download - page 19

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17
Years ended May 31
In thousands, except per share amounts 2001 2000 1999
REVENUES $19,629,040 $18,256,945 $16,773,470
OPERATING EXPENSES
Salaries and employee benefits 8,263,413 7,597,964 7,087,728
Purchased transportation 1,713,027 1,674,854 1,537,785
Rentals and landing fees 1,650,048 1,538,713 1,396,694
Depreciation and amortization 1,275,774 1,154,863 1,035,118
Fuel 1,142,741 918,513 604,929
Maintenance and repairs 1,170,103 1,101,424 958,873
Other 3,343,044 3,049,540 2,989,257
18,558,150 17,035,871 15,610,384
OPERATING INCOME 1,070,890 1,221,074 1,163,086
OTHER INCOME (EXPENSE)
Interest, net (143,953) (106,060) (98,191)
Other, net 636 22,726 (3,831)
(143,317) (83,334) (102,022)
INCOME BEFORE INCOME TAXES 927,573 1,137,740 1,061,064
PROVISION FOR INCOME TAXES 343,202 449,404 429,731
NET INCOME $584,371 $688,336 $ 631,333
EARNINGS PER COMMON SHARE
Basic $2.02 $2.36 $ 2.13
Assuming dilution $1.99 $2.32 $ 2.10
The accompanying notes are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENTS OF INCOME