Federal Express 2011 Annual Report Download - page 43

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41
FEDEX CORPORATION
CONSOLIDATED BALANCE SHEETS
(in millions, except share data) 2011 2010
Assets
Current Assets
Cash and cash equivalents $ 2,328 $ 1,952
Receivables, less allowances of $182 and $166 4,581 4,163
Spare parts, supplies and fuel, less allowances of $169 and $170 437 389
Deferred income taxes 610 529
Prepaid expenses and other 329 251
Total current assets 8,285 7,284
Property and Equipment, at Cost
Aircraft and related equipment 13,146 11,640
Package handling and ground support equipment 5,591 5,193
Computer and electronic equipment 4,408 4,218
Vehicles 3,294 3,170
Facilities and other 7,247 7,081
33,686 31,302
Less accumulated depreciation and amortization 18,143 16,917
Net property and equipment 15,543 14,385
Other Long–Term Assets
Goodwill 2,326 2,200
Other assets 1,231 1,033
Total other long–term assets 3,557 3,233
$ 27,385 $ 24,902
Liabilities and Stockholders’ Investment
Current Liabilities
Current portion of long–term debt $ 18 $ 262
Accrued salaries and employee benefits 1,268 1,146
Accounts payable 1,702 1,522
Accrued expenses 1,894 1,715
Total current liabilities 4,882 4,645
Long–Term Debt, Less Current Portion 1,667 1,668
Other Long–Term Liabilities
Deferred income taxes 1,336 891
Pension, postretirement healthcare and other benefit obligations 2,124 1,705
Self–insurance accruals 977 960
Deferred lease obligations 779 804
Deferred gains, principally related to aircraft transactions 246 267
Other liabilities 154 151
Total other long–term liabilities 5,616 4,778
Commitments and Contingencies
Common Stockholders’ Investment
Common stock, $0.10 par value; 800 million shares authorized; 317 million shares issued as of May 31, 2011
and 314 million shares issued as of May 31, 2010 32 31
Additional paid–in capital 2,484 2,261
Retained earnings 15,266 13,966
Accumulated other comprehensive loss (2,550) (2,440)
Treasury stock, at cost (12) (7)
Total common stockholders’ investment 15,220 13,811
$ 27,385 $ 24,902
The accompanying notes are an integral part of these consolidated financial statements.
May 31,