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73
FEDEX CORPORATION
SELECTED FINANCIAL DATA
The following table sets forth (in millions, except per share amounts and other operating data) certain selected consolidated financial and
operating data for FedEx as of and for the five years ended May 31, 2011. This information should be read in conjunction with the Consolidated
Financial Statements, MD&A and other financial data appearing elsewhere in this Annual Report.
2011(1) 2010 2009(2) 2008(3) 2007(4)
Operating Results
Revenues $ 39,304 $ 34,734 $ 35,497 $ 37,953 $ 35,214
Operating income 2,378 1,998 747 2,075 3,276
Income before income taxes 2,265 1,894 677 2,016 3,215
Net income 1,452 1,184 98 1,125 2,016
Per Share Data
Earnings per share:
Basic $ 4.61 $ 3.78 $ 0.31 $ 3.64 $ 6.57
Diluted $ 4.57 $ 3.76 $ 0.31 $ 3.60 $ 6.48
Average shares of common stock outstanding 315 312 311 309 307
Average common and common equivalent shares outstanding 317 314 312 312 311
Cash dividends declared $ 0.48 $ 0.44 $ 0.44 $ 0.30 $ 0.37
Financial Position
Property and equipment, net $ 15,543 $ 14,385 $ 13,417 $ 13,478 $ 12,636
Total assets 27,385 24,902 24,244 25,633 24,000
Long–term debt, less current portion 1,667 1,668 1,930 1,506 2,007
Common stockholders’ investment 15,220 13,811 13,626 14,526 12,656
Other Operating Data
FedEx Express aircraft fleet 688 667 654 677 669
Average full–time equivalent employees and contractors 255,573 245,109 247,908 254,142 241,903
(1) Results for 2011 include charges of approximately $199 million ($104 million, net of tax and applicable variable incentive compensation impacts, or $0.33 per diluted share) for the combina-
tion of our FedEx Freight and FedEx National LTL operations and a reserve associated with a legal matter at FedEx Express. See Notes 1 and 17 to the accompanying consolidated financial
statements.
(2) Results for 2009 include a charge of $1.2 billion ($1.1 billion, net of tax, or $3.45 per diluted share) primarily for impairment charges associated with goodwill and aircraft. See Note 4 to the
accompanying consolidated financial statements. Additionally, common stockholders’ investment includes an other comprehensive income charge of $1.2 billion, net of tax, for the funded status
of our retirement plans at May 31, 2009.
(3) Results for 2008 include a charge of $891 million ($696 million, net of tax, or $2.23 per diluted share) recorded during the fourth quarter, predominantly for impairment charges associated
with intangible assets from the FedEx Office acquisition. See Note 4 to the accompanying consolidated financial statements. Additionally, results for 2008 and 2007 include several 2007
acquisitions.
(4) Results for 2007 include a charge of $143 million at FedEx Express associated with upfront compensation and benefits under our labor contract with our pilots.