Federal Express 2011 Annual Report Download - page 42

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40
FEDEX CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts) 2011 2010 2009
Revenues $ 39,304 $ 34,734 $ 35,497
Operating Expenses:
Salaries and employee benefits 15,276 14,027 13,767
Purchased transportation 5,674 4,728 4,534
Rentals and landing fees 2,462 2,359 2,429
Depreciation and amortization 1,973 1,958 1,975
Fuel 4,151 3,106 3,811
Maintenance and repairs 1,979 1,715 1,898
Impairment and other charges 89 18 1,204
Other 5,322 4,825 5,132
36,926 32,736 34,750
Operating Income 2,378 1,998 747
Other Income (Expense):
Interest expense (86) (79) (85)
Interest income 9 8 26
Other, net (36) (33) (11)
(113) (104) (70)
Income Before Income Taxes 2,265 1,894 677
Provision For Income Taxes 813 710 579
Net Income $ 1,452 $ 1,184 $ 98
Basic Earnings Per Common Share $ 4.61 $ 3.78 $ 0.31
Diluted Earnings Per Common Share $ 4.57 $ 3.76 $ 0.31
The accompanying notes are an integral part of these consolidated financial statements.
Years ended May 31,