Federal Express 2009 Annual Report Download - page 43

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41
FEDEX CORPORATION
Consolidated Statements of Income
Years ended M ay 31,
(In millions, except per share amounts) 2009 2008 2007
REVENUES $ 35,497 $ 37,953 $ 35,214
OPERATING EXPENSES:
Salaries and employee benefi ts 13,767 14,202 13,740
Purchased transportation 4,534 4,634 3,978
Rentals and landing fees 2,429 2,441 2,343
Depreciation and amortization 1,975 1,946 1,742
Fuel 3,811 4,409 3,428
Maintenance and repairs 1,898 2,068 1,952
Impairment and other charges 1,204 882 –
Other 5,132 5,296 4,755
34,750 35,878 31,938
OPERATING INCOME 747 2,075 3,276
OTHER INCOME (EXPENSE):
Interest expense
(85) (98) (136)
Interest income 26 44 83
Other, net (11) (5) (8)
(70) (59) (61)
INCOME BEFORE INCOME TAXES 677 2,016 3,215
PROVISION FOR INCOME TAXES 579 891 1,199
NET INCOME $ 98 $ 1,125 $ 2,016
BASIC EARNINGS PER COMMON SHARE $ 0.31 $ 3.64 $ 6.57
DILUTED EARNINGS PER COMMON SHARE $ 0.31 $ 3.60 $ 6.48
The accompanying notes are an integral part of these consolidated fi nancial statements.