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68
FEDEX CORPORATION
CONSOLIDATED STATEM ENTS OF CHANGES IN STOCKHOLDERS’ INVESTM ENT
AND COM PREHENSIVE INCOM E
Accumulated
Additional Other
Common Paid-in Retained Comprehensive Treasury Deferred
(In millions, except share data) Stock Capital Earnings Loss Stock Compensation Total
BALANCE AT M AY 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
(2,625,000 shares repurchased at an
average price of $68.14 per share) – – – – (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 M AY 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 M AY 31, 2005 30 1,241 8,363 (17) (1) (28) 9,588
Net income – – 1,806 – – – 1,806
Foreign currency translation adjustment,
net of deferred taxes of $3 –– –29––29
Minimum pension liability adjustment,
net of deferred taxes of $24 – – – (36) – – (36)
Total comprehensive income 1,799
Cash dividends declared ($0.33 per share) – – (101) – – – (101)
Employee incentive plans and other
(3,579,766 shares issued) 1 227 – – (1) (19) 208
Amortization of deferred compensation –– – ––1717
BALANCE AT M AY 31, 2006 $31 $1,468 $10,068 $(24) $ (2) $(30) $11,511
The accompanying notes are an integral part of these consolidated financial statements.