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FEDEX CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ INVESTMENT
AND COMPREHENSIVE INCOME Accumulated
Additional Other
Common Paid-in Retained Comprehensive Treasury Deferred
(In millions, except share data) Stock Capital Earnings Loss Stock Compensation Total
BALANCE AT MAY 31, 2002 $30 $1,144 $5,465 $(53) $ (20) $(21) $ 6,545
Net income – – 830 – – – 830
Foreign currency translation adjustment,
net of deferred taxes of $10 –––37––37
Minimum pension liability adjustment,
net of deferred tax benefit of $7 – – – (14) – – (14)
Total comprehensive income 853
Purchase of treasury stock – – – – (186) – (186)
Cash dividends declared ($0.15 per share) – – (45) – – – (45)
Employee incentive plans and other
(3,268,180 shares issued) – (56) – – 181 (16) 109
Amortization of deferred compensation –––––1212
BALANCE AT MAY 31, 2003 30 1,088 6,250 (30) (25) (25) 7,288
Net income – – 838 – – – 838
Minimum pension liability adjustment,
net of deferred tax benefit of $12 – – – (16) – – (16)
Total comprehensive income 822
Purchase of treasury stock – – – – (179) – (179)
Cash dividends declared ($0.29 per share) – – (87) – – – (87)
Employee incentive plans and other
(4,013,182 shares issued) – (9) – – 204 (18) 177
Amortization of deferred compensation –––––1515
BALANCE AT MAY 31, 2004 30 1,079 7,001 (46) – (28) 8,036
Net income – – 1,449 – – – 1,449
Foreign currency translation adjustment,
net of deferred taxes of $5 –––27––27
Minimum pension liability adjustment,
net of deferred taxes of $1 ––– 2––2
Total comprehensive income 1,478
Cash dividends declared ($0.29 per share) – – (87) – – – (87)
Employee incentive plans and other
(2,767,257 shares issued) – 162 – – (1) (16) 145
Amortization of deferred compensation –––––1616
BALANCE AT MAY 31, 2005 $30 $1,241 $8,363 $(17) $ (1) $(28) $9,588
The accompanying notes are an integral part of these consolidated financial statements.
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