Q3 Fiscal 2010 Statistics
FedEx Corporation
Financial and Operating Statistics
Third Quarter Fiscal 2010
March 18, 2010
This report is a statistical supplement to FedEx’s interim financial reports and is
prepared quarterly. Additional copies are available for downloading and printing at
www.fedex.com/us/investorrelations. For more information, write or call:
Mickey Foster, Vice President
Elizabeth Allen, Manager
Stephen Hughes, Manager
Jeff Smith, Manager
FedEx Corp. Investor Relations
942 S. Shady Grove Road
Memphis, TN 38120
Telephone: (901) 818-7200
TABLE OF CONTENTS
• FEDEX CORPORATION
OVERVIEW
CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2007 – FY2008
FY2009 – FY2010
CAPITAL EXPENDITURES
1
2
3
4
5
6
7
• FEDEX EXPRESS SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2007 – FY2008
FY2009 – FY2010
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
FY2007 – FY2008
FY2009 – FY2011
AIRCRAFT AND VEHICLE FLEET STATISTICS
JET FUEL STATISTICS
8
9
10
11
12
13
14
15
• FEDEX GROUND SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2007 – FY2008
FY2009 – FY2010
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
16
17
18
19
20
• FEDEX FREIGHT SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2007 – FY2008
FY2009 – FY2010
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
21
22
23
24
25
FEDEX CORPORATION
OVERVIEW
FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation,
e-commerce and business services. With annual revenues of $33 billion, the company offers integrated
business applications through operating companies competing collectively and managed collaboratively,
under the respected FedEx brand. Consistently ranked among the world's most admired and trusted
employers, FedEx inspires its more than 280,000 team members to remain "absolutely, positively" focused
on safety, the highest ethical and professional standards and the needs of their customers and communities.
FedEx Express invented express distribution and remains the industry’s global leader, providing rapid,
reliable, time-definite delivery to more than 220 countries and territories, connecting markets that comprise
more than 90 percent of the world’s gross domestic product within one to three business days. Unmatched
air route authorities and transportation infrastructure make FedEx Express the world’s largest express
transportation company, providing fast and reliable services for more than 3.4 million shipments each
business day.
Effective June 1, 2009, former FedEx Freight Corporation subsidiary Caribbean
Transportation Services (“CTS”) was merged into FedEx Express. The FedEx Express segment also
includes FedEx Trade Networks, which provides international trade services, specializing in customs
brokerage and global cargo distribution. Effective September 1, 2009, FedEx SupplyChain Systems was
realigned to become part of the FedEx Express reporting segment.
FedEx Ground is a leading provider of ground small-package delivery services, providing service to the U.S.
and Canada. FedEx Home Delivery, the industry’s first ground service dedicated to residential delivery, is
available from FedEx Ground and is backed by a money-back guarantee. FedEx Ground segment financial
results include FedEx SmartPost, which specializes in the consolidation and delivery of high volumes of lowweight, less time-sensitive business-to-consumer packages using the U.S. Postal Service for final delivery to
residences.
FedEx Freight, together with FedEx National LTL, is a leading regional and long-haul less-than-truckload
(LTL) carrier and the market leader in providing next-day and second-day regional LTL freight services.
FedEx Freight segment financial results also include FedEx Custom Critical, North America’s largest timespecific, critical shipment carrier.
FedEx Services operates combined sales, marketing, administrative and information technology functions in
a shared services operation that supports our transportation businesses and allows us to pursue synergies
from the combination of these functions. The FedEx Services segment includes: FedEx Services, which
provides sales, marketing and information technology support to our other companies; FCIS, which is
responsible for customer service, billings and collections for U.S. customers of our major business units; and
FedEx Office, which provides retail access to our customers for our package transportation businesses and
an array of document and business services.
CORPORATE HEADQUARTERS:
942 S. Shady Grove Road
Memphis, TN 38120
COMMON STOCK LISTING:
The New York Stock Exchange
STOCK SYMBOL:
FDX
COMMON SHARES AUTHORIZED:
800,000,000
COMMON SHARES OUTSTANDING:
313,166,330 (as of February 28, 2010)
STOCKHOLDERS OF RECORD:
17,593 (as of February 28, 2010)
TRANSFER AGENT & REGISTRAR:
Computershare Investor Services
P.O. Box 43069
Providence, RI 02940-3069
(800) 446-2617 or
John Ruocco (312) 499-7033
FISCAL YEAR END:
May 31
ANNUAL MEETING:
September 27, 2010
Q3 FY10 Stat Book / 1
FedEx Corporation
Condensed Consolidated Balance Sheets
FY 2007 – FY 2010
May 31
In millions (except share data)
.
FY 2007
FY 2008
FY 2009
Feb. 28,
2010
$ 1,569
3,942
338
536
244
6,629
$ 1,539
4,359
435
544
367
7,244
$ 2,292
3,391
367
511
555
7,116
$ 1,549
3,937
380
517
300
6,683
9,593
3,889
4,685
2,561
6,362
27,090
10,165
4,817
5,040
2,754
6,529
29,305
10,118
4,960
4,280
3,078
6,824
29,260
30,675
14,454
15,827
15,843
16,672
Net property and equipment
12,636
13,478
13,417
14,003
Other Long-Term Assets
Goodwill
Pension assets
Intangible and other assets
Total other long-term assets
3,497
–
1,238
4,735
3,165
827
919
4,911
2,229
311
1,171
3,711
2,229
833
1,128
4,190
$ 24,000
$ 25,633
$ 24,244
$ 24,876
Current Liabilities
Current portion of long-term debt
Accrued salaries and employee benefits
Accounts payable
Accrued expenses
Total current liabilities
$ 639
1,354
2,016
1,419
5,428
$ 502
1,118
2,195
1,553
5,368
$ 653
861
1,372
1,638
4,524
$ 283
959
1,489
1,641
4,372
Long-Term Debt, Less Current Portion
2,007
1,506
1,930
1,668
Other Long-Term Liabilities
Deferred income taxes
Pension, postretirement health and other benefit obligations
Self-insurance accruals
Deferred lease obligations
Deferred gains, principally related to aircraft transactions
Other liabilities
Total other long-term liabilities
897
1,164
759
655
343
91
3,909
1,264
989
804
671
315
190
4,233
1,071
934
904
802
289
164
4,164
1,384
931
949
768
274
150
4,456
31
1,689
11,970
(1,030)
(4)
12,656
31
1,922
13,002
(425)
(4)
14,526
31
2,053
12,919
(1,373)
(4)
13,626
31
2,168
13,546
(1,362)
(3)
14,380
ASSETS
Current Assets
Cash and cash equivalents
Receivables, less allowances
Spare parts, supplies and fuel, less allowances
Deferred income taxes
Prepaid expenses and other
Total current assets
Property and Equipment, at Cost
Aircraft and related equipment
Package handling and GSE
Computer and electronic equipment
Vehicles
Facilities and other
Less accumulated depreciation and amort.
LIABILITIES AND STOCKHOLDERS' INVESTMENT
Commitments and Contingencies
Common Stockholders' Investment
Common stock $0.10 par value; 800 million shares auth.
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss1
Treasury stock, at cost
Total common stockholders' investment
$ 24,000
$ 25,633
$ 24,244
$ 24,876
1 - FY09 amount includes other comprehensive income charge of $1.2 billion, net of taxes, related to the funded status of our retirement plans at May 31, 2009.
Current period financial results are unaudited. Differences may result due to rounding.
2 / Q3 FY10 Stat Book
FedEx Corporation
Condensed Consolidated Statements of Cash Flows
FY 2007 – FY 2010
Years ended May 31
In millions
.
OPERATING ACTIVITIES
Net income
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization
Provision for uncollectible accounts
Deferred income taxes and other noncash items
Noncash impairment charges2
Stock-based compensation
Other noncash charges, net
Changes in operating assets and liabilities, net of the effects of businesses acquired:
Receivables
Other current assets
Pension assets and liabilities, net
Accounts payable and other operating liabilities
Other, net
Cash provided by operating activities
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 20101
$ 2,016
$ 1,125
$ 98
$ 765
1,742
106
37
–
103
1,946
134
124
882
101
1,975
181
299
1,103
99
1,470
363
(690)
(323)
(85)
(69)
66
(36)
(447)
(237)
(273)
190
(80)
762
(196)
(913)
(628)
(27)
3,557
3,465
2,753
1,908
INVESTING ACTIVITIES
Capital expenditures
Business acquisitions, net of cash acquired
Proceeds from asset dispositions and other
(2,882)
(1,310)
68
(2,947)
(4)
54
(2,459)
(3)
79
(1,981)
Cash used in investing activities
(4,124)
(2,897)
(2,383)
(1,950)
(906)
1,054
115
45
(110)
(5)
(639)
–
108
38
(124)
–
(501)
1,000
41
4
(137)
(7)
(632)
–
193
(617)
400
(706)
19
(17)
FINANCING ACTIVITIES
Principal payments on debt
Proceeds from debt issuances
Proceeds from stock issuances
Excess tax benefits on the exercise of stock options
Dividends paid
Other, net
Cash provided by (used in) financing activities
Effect of exchange rate changes on cash
CASH AND CASH EQUIVALENTS
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period
6
(368)
1,937
$ 1,569
(30)
1,569
$ 1,539
753
1,539
$ 2,292
31
(103)
29
5
(743)
2,292
$ 1,549
1 - FY10 year-to-date cash flow information has been included on a condensed basis and therefore certain line items are not presented individually.
2 - FY08 noncash impairment charges of $882 million include impairment charges associated with the decision to minimize the use of the Kinko's tradename ($515 million)
and goodwill resulting from the Kinko's acquisition ($367 million). FY09 noncash impairment charges of $1.1 billion include an $810 million charge related to the
reduction of the value of goodwill related to the Kinko's acquisition, $90 million related to the reduction of the value of goodwill related to the Watkins Motor Lines
acquisition and asset impairment charges primarily related to aircraft.
Current period financial results are unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
3
FedEx Corporation
Annual Consolidated Statements of Income
FY 2007 – FY 2010
Years ended May 31
In millions, except EPS and FTEs
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1
Other & eliminations1
Total Revenue
Operating Expenses:
Salaries and employee benefits2
Purchased transportation4
Rentals and landing fees
Depreciation and amortization
Fuel4
Maintenance and repairs
Impairment and other charges3
Other
Total Operating Expenses
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1,3
Total Operating Income
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
Income Before Income Taxes
Provision for Income Taxes
Net Income
Basic Earnings Per Share
3
Weighted Avg. Common Shares
Diluted Earnings Per Share
3
Avg Common and Common Equiv. Shares
SELECTED STATISTICS
Operating Margin
Pretax Margin
Return on Assets5
Return on Equity5
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
$ 22,681
6,043
4,586
2,137
$ 24,421
6,751
4,934
2,138
$ 22,364
7,047
4,415
1,977
$ 15,678
5,477
3,090
1,322
(233)
35,214
(291)
37,953
(306)
35,497
(261)
25,306
13,740
3,977
2,343
1,742
3,429
1,952
–
4,755
31,938
14,202
4,634
2,441
1,946
4,409
2,068
882
5,296
35,878
13,767
4,534
2,429
1,975
3,811
1,898
1,204
5,132
34,750
10,350
3,429
1,764
1,470
2,220
1,215
–
3,556
24,004
1,991
822
463
–
3,276
1,901
736
329
(891)
2,075
794
807
(44)
(810)
747
714
705
(117)
–
1,302
(53)
(8)
(61)
3,215
(54)
(5)
(59)
2,016
(59)
(11)
(70)
677
(52)
(28)
(80)
1,222
1,199
891
579
457
$ 2,016
$ 1,125
$ 98
$ 765
$ 6.57
$ 3.64
$ 0.31
$ 2.44
307
309
311
312
$ 6.48
$ 3.60
$ 0.31
$ 2.43
311
312
312
314
9.3%
9.1%
8.6%
16.7%
241,903
$ 0.36
5.5%
5.3%
4.5%
8.3%
254,142
$ 0.40
2.1%
1.9%
0.4%
0.7%
247,908
$ 0.44
5.1%
4.8%
(0.4%)
(0.7%)
243,882
$ 0.33
1 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the FedEx Services
reportable segment. Net operating costs of the FedEx Services segment are allocated to the transportation segments. FY07 amounts were revised to conform to the current
segment presentation.
2 - Results for FY07 include a $143 million charge for signing bonuses and other upfront compensation associated with our pilot labor contract at FedEx Express.
3 - FY08 includes impairment of approximately $891 million ($696 million, net of tax, or $2.23 per diluted share), predominantly related to noncash impairment charges associated
with the decision to minimize the use of the Kinko's trade name and goodwill resulting from the Kinko's acquisition (FedEx Services Segment). FY09 includes impairment and
other charges of approximately $1.2 billion ($1.1 billion, net of tax, or $3.45 per diluted share), including an $810 million charge related to the reduction of the value of goodwill
related to the Kinko's acquisition (FedEx Services Segment), $90 million related to the reduction of the value of goodwill related to the Watkins Motor Lines acquisition (FedEx
Freight Segment), aircraft-related charges and other charges primarily associated with aircraft-related lease and contract termination costs, and employee severance. The
charges included in the results of the FedEx Services Segment were not allocated to our transportation segments as the charges were unrelated to the core performance of
these businesses.
4 - In FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation
expense to conform to the current period presentation.
5 - Return on Assets and Return on Equity for the current year-to-date are calculated on a rolling four quarter basis.
Current period financial results are unaudited. Differences may result due to rounding.
4 / Q3 FY10 Stat Book
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2007 – FY 2008
Years ended May 31
In millions, except EPS and FTEs
FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1
Other & eliminations1
Total Revenue
FY 2007
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 5,640
1,417
1,013
527
(52)
8,545
$ 5,693
1,520
1,225
543
(55)
8,926
$ 5,523
1,523
1,101
508
(63)
8,592
$ 5,825
1,583
1,247
558
(62)
9,151
$ 5,889
1,618
1,233
525
(66)
9,199
$ 6,037
1,698
1,236
550
(70)
9,451
$ 6,129
1,720
1,155
511
(78)
9,437
$ 6,366
1,715
1,310
552
(77)
9,866
3,285
925
570
399
912
515
–
1,155
7,761
3,526
1,020
584
430
836
492
–
1,199
8,087
3,414
1,031
598
449
807
484
–
1,168
7,951
3,515
1,001
591
464
874
461
–
1,233
8,139
3,483
1,057
593
473
932
544
–
1,303
8,385
3,510
1,178
611
482
1,018
519
–
1,350
8,668
3,593
1,174
615
492
1,134
479
–
1,309
8,796
3,616
1,225
622
499
1,325
526
882
1,334
10,029
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1,3
Total Operating Income (Loss)
475
159
150
–
784
508
193
138
–
839
395
196
50
–
641
613
274
125
–
1,012
519
190
105
–
814
531
173
79
–
783
425
170
46
–
641
426
203
99
(891)
(163)
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
(9)
(5)
(14)
(17)
1
(16)
(11)
(1)
(12)
(16)
(3)
(19)
(25)
(2)
(27)
(15)
–
(15)
(10)
(3)
(13)
(4)
–
(4)
Income (Loss) Before Income Taxes
770
823
629
993
787
768
628
(167)
Provision for Income Taxes
295
312
209
383
293
289
235
74
Net Income (Loss)
$ 475
$ 511
$ 420
$ 610
$ 494
$ 479
$ 393
($241)
Basic Earnings Per Share3
$ 1.55
$ 1.67
$ 1.37
$ 1.98
$ 1.60
$ 1.55
$ 1.27
($0.78)
306
307
307
308
308
309
309
$ 1.53
$ 1.64
$ 1.35
$ 1.96
$ 1.58
$ 1.54
$ 1.26
310
311
311
311
312
312
312
9.2%
9.0%
9.4%
9.2%
7.5%
7.3%
11.1%
10.9%
8.8%
8.6%
8.3%
8.1%
6.8%
6.7%
229,943
243,286
244,763
248,443
250,678
256,038
256,252
253,636
$ 0.09
$ 0.09
$ 0.09
$ 0.09
$ 0.10
$ 0.10
$ 0.10
$ 0.10
Operating Expenses:
Salaries and employee benefits2
Purchased transportation4
Rentals and landing fees
Depreciation and amortization
Fuel4
Maintenance and repairs
Impairment charges3
Other
Total Operating Expenses
Weighted Avg. Common Shares
Diluted Earnings Per Share3
Avg Common and Common Equiv. Shares
310
($0.78)
310
SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
(1.7%)
(1.7%)
1 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the FedEx Services reportable segment.
Net operating costs of the FedEx Services segment are allocated to the transportation segments. FY07 amounts were revised to conform to the current segment presentation.
2 - Results for second quarter fiscal 2007 include a $143 million charge for signing bonuses and other upfront compensation associated with our pilot labor contract at FedEx Express.
3 - FedEx Services segment operating expenses included a charge of approximately $891 million ($696 million, net of tax, or $2.22 per diluted share), predominantly related to noncash
impairment charges associated with the decision to minimize the use of the Kinko's trade name and goodwill resulting from the Kinko's acquisition. The charges are included in the results of
the FedEx Services segment and were not allocated to our transportation segments as the charges are unrelated to the core performance of these businesses.
.
4 - In FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation expense to conform
to the current period presentation.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
5
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2009 – FY 2010
Years ended May 31
In millions, except EPS and FTEs
FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other & eliminations
Total Revenue
FY 2009
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER QUARTER
$ 6,419
1,761
1,353
513
(76)
9,970
$ 6,098
1,789
1,200
528
(77)
9,538
$ 5,050
1,793
914
458
(78)
8,137
$ 4,797
1,704
948
478
(75)
7,852
$ 4,924
1,730
982
451
(78)
8,009
$ 5,314
1,837
1,068
465
(88)
8,596
$ 5,440
1,910
1,040
406
(95)
8,701
3,585
1,278
617
492
1,528
537
–
1,303
9,340
3,503
1,181
612
491
1,106
521
–
1,340
8,754
3,414
1,060
609
496
636
449
–
1,291
7,955
3,265
1,015
591
496
541
391
1,204
1,198
8,701
3,377
1,054
578
495
666
401
–
1,123
7,694
3,424
1,155
593
487
744
410
–
1,212
8,025
3,549
1,220
593
488
810
404
–
1,221
8,285
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment2
Total Operating Income (Loss)
345
196
89
–
630
540
212
32
–
784
45
196
(59)
–
182
(136)
203
(106)
(810)
(849)
104
209
2
–
315
345
238
(12)
–
571
265
258
(107)
–
416
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
(9)
(3)
(12)
(10)
–
(10)
(19)
(4)
(23)
(21)
(4)
(25)
(18)
(3)
(21)
(15)
(9)
(24)
(19)
(16)
(35)
Income (Loss) Before Income Taxes
618
774
159
(874)
294
547
381
Provision for Income Taxes
234
281
62
113
202
142
Net Income (Loss)
$ 384
$ 493
$ 97
($876)
$ 181
$ 345
$ 239
Basic Earnings Per Share
$ 1.24
$ 1.59
$ 0.31
($2.82)
$ 0.58
$ 1.10
$ 0.76
311
311
311
312
312
312
$ 1.23
$ 1.58
$ 0.31
$ 0.58
$ 1.10
$ 0.76
313
312
312
312
314
315
6.3%
6.2%
8.2%
8.1%
2.2%
2.0%
3.9%
3.7%
6.6%
6.4%
4.8%
4.4%
252,046
251,852
247,892
239,335
238,548
243,572
249,578
$ 0.11
$ 0.11
$ 0.11
$ 0.11
$ 0.11
$ 0.11
$0.11
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals and landing fees
Depreciation and amortization
Fuel1
Maintenance and repairs
Impairment and other charges2
Other
Total Operating Expenses
Weighted Avg. Common Shares
Diluted Earnings Per Share
Avg Common and Common Equiv. Shares
2
311
($2.82)
311
FOURTH
QUARTER
SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
(10.8%)
(11.1%)
1- In FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation expense to conform
to the current period presentation.
2- Q4 FY09 includes impairment and other charges of approximately $1.2 billion ($1.1 billion, net of tax, or $3.46 per diluted share), including an $810 million charge related to the reduction of
the value of goodwill related to the Kinko's acquisition (FedEx Services Segment), $90 million related to the reduction of the value of goodwill related to the Watkins Motor Lines acquisition
(FedEx Freight Segment), aircraft-related charges and other charges primarily associated with aircraft-related lease and contract termination costs, and employee severance. The charge
included in the results of the FedEx Services Segment was not allocated to our transportation segments as the charge was unrelated to the core performance of these businesses.
Unaudited. Differences may result due to rounding.
6 / Q3 FY10 Stat Book
FedEx Corporation
Capital Spending
FY 2007 – FY 2010
Years ended May 31
In millions
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
By Asset Type
Aircraft and Related Equipment
Facilities and Sort Equipment
Vehicles
Information Technology Investments
Other Equipment
Total
$ 1,107
674
445
431
225
$ 2,882
$ 998
900
404
366
279
$ 2,947
$ 925
742
319
298
175
$ 2,459
$ 1,018
491
193
192
87
$ 1,981
By Segment
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1
Other
Total
$ 1,672
489
287
432
2
$ 2,882
$ 1,716
509
266
455
1
$ 2,947
$ 1,348
636
240
235
–
$ 2,459
$ 1,245
303
200
233
–
$ 1,981
1 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the
FedEx Services reportable segment. FY07 amounts were revised to conform to the current segment presentation.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
7
FedEx Express Segment
Annual Consolidated Statements of Income
FY 2007 – FY 2010
Years ended May 31
In millions, except FTEs
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
$ 6,485
1,990
8,475
2,883
11,358
6,722
369
18,449
$ 6,578
2,012
8,590
2,995
11,585
7,666
663
19,914
$ 6,074
1,855
7,929
2,789
10,718
6,978
565
18,261
$ 4,116
1,203
5,319
1,919
7,238
5,105
427
12,770
2,412
1,044
395
3,851
2,398
1,243
406
4,047
2,165
1,104
369
3,638
1,464
910
185
2,559
381
460
465
349
22,681
24,421
22,364
15,678
8,234
1,098
1,610
856
2,946
1,444
–
2,046
2,456
20,690
8,451
1,208
1,673
944
3,785
1,512
–
2,134
2,813
22,520
8,217
1,112
1,613
961
3,281
1,351
260
2,103
2,672
21,570
6,215
830
1,178
757
1,903
789
–
1,436
1,856
14,964
$ 1,991
$ 1,901
$ 794
$ 714
8.8%
7.8%
3.6%
4.6%
124,164
131,242
128,197
127,195
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Package Revenue
International Priority1
International Domestic2
Total Package Revenue
Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue
Other Revenue3
Total Revenue
Operating Expenses:
Salaries and employee benefits4
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment and other charges5
Intercompany charges6
Other
Operating Income
SELECTED STATISTICS
Operating Margin
Average FTEs
1 - In FY07, the company reclassified certain revenues previously included within International Priority package revenues in the table above that were international priority
freight shipments to International Priority Freight to more precisely present the nature of the services provided. The company has reclassified the amounts for FY07 to
include these revenues within its Freight revenues.
2 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada, China,
India and Mexico.
3 - Other revenue includes FedEx Trade Networks and, beginning in the second quarter of FY10, FedEx SupplyChain Systems.
4 - Results for FY07 include a $143 million charge for signing bonuses and other upfront compensation associated with our pilot labor contract.
5 - Results for FY09 include charges of $260 million related to noncash impairment charges associated with aircraft-related asset impairments and other charges primarily
associated with aircraft-related lease and contract termination costs and employee severance.
6 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the FedEx Services
reportable segment. Net operating costs of the FedEx Services segment are allocated to the transportation segments it supports. FY07 amounts were revised to conform
to the current segment presentation.
Current period financial results are unaudited. Differences may result due to rounding.
8 / Q3 FY10 Stat Book
FedEx Express Segment
Quarterly Consolidated Statements of Income
FY 2007 – FY 2008
Years ended May 31
In millions, except FTEs
FIRST
QUARTER
FY 2007
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority1
International Domestic2
Total Package Revenue
$ 1,654
511
2,165
705
2,870
1,665
52
4,587
$ 1,634
489
2,123
716
2,839
1,696
56
4,591
$ 1,573
476
2,049
740
2,789
1,597
114
4,500
$ 1,624
514
2,138
722
2,860
1,764
147
4,771
$ 1,615
512
2,127
711
2,838
1,820
156
4,814
$ 1,616
480
2,096
730
2,826
1,911
173
4,910
$ 1,652
496
2,148
799
2,947
1,889
163
4,999
$ 1,695
524
2,219
755
2,974
2,046
171
5,191
607
249
104
960
624
271
106
1,001
586
251
91
928
595
273
94
962
593
292
94
979
604
312
96
1,012
614
309
96
1,019
587
330
120
1,037
93
101
95
92
96
115
111
138
5,640
5,693
5,523
5,825
5,889
6,037
6,129
6,366
2,002
263
398
205
798
398
502
599
5,165
2,116
269
392
208
716
365
520
599
5,185
2,043
300
411
216
691
357
499
611
5,128
2,073
266
409
227
741
324
525
647
5,212
2,060
280
411
230
800
402
515
672
5,370
2,059
299
417
234
872
376
536
713
5,506
2,154
302
421
240
980
346
555
706
5,704
2,178
327
424
240
1,133
388
528
722
5,940
$ 475
$ 508
$ 395
$ 613
$ 519
$ 531
$ 425
$ 426
8.4%
8.9%
7.2%
10.5%
8.8%
8.8%
6.9%
6.7%
121,119
121,075
124,745
129,689
131,013
131,031
132,254
130,672
Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue
Other Revenue3
Total Revenue
Operating Expenses:
Salaries and employee benefits4
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges5
Other
Operating Income
SELECTED STATISTICS
Operating Margin
Average FTEs
1 - In FY07, the company reclassified certain revenues previously included within International Priority package revenues in the table above that were international priority freight shipments to
International Priority Freight to more precisely present the nature of the services provided. The company has reclassified the amounts for FY07 to include these revenues within its Freight
revenues.
2 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada, China, India and Mexico.
3 - Other revenue includes FedEx Trade Networks.
4 - Results for FY07 include a $143 million charge for signing bonuses and other upfront compensation associated with our pilot labor contract.
5 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the FedEx Services reportable segment.
Net operating costs of the FedEx Services segment are allocated to the transportation segments it supports. FY07 amounts were revised to conform to the current segment presentation.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
9
FedEx Express Segment
Quarterly Consolidated Statements of Income
FY 2009 – FY 2010
Years ended May 31
In millions, except FTEs
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority
International Domestic1
Total Package Revenue
$ 1,711
525
2,236
762
2,998
2,044
170
5,212
$ 1,619
486
2,105
740
2,845
1,930
158
4,933
$ 1,410
426
1,836
682
2,518
1,507
117
4,142
$ 1,334
418
1,752
605
2,357
1,497
120
3,974
$ 1,331
408
1,739
601
2,340
1,594
134
4,068
$ 1,372
395
1,767
626
2,393
1,763
151
4,307
$ 1,413
400
1,813
692
2,505
1,748
142
4,395
598
340
131
1,069
594
323
111
1,028
523
221
69
813
450
220
58
728
449
260
61
770
490
321
63
874
525
329
61
915
138
137
95
95
86
133
130
6,419
6,098
5,050
4,797
4,924
5,314
5,440
2,129
336
417
239
1,319
394
–
533
707
6,074
2,059
294
403
241
953
381
–
532
695
5,558
2,064
241
400
241
551
318
–
530
660
5,005
1,965
241
393
240
458
258
260
508
610
4,933
2,043
255
385
252
571
261
–
469
584
4,820
2,036
283
396
251
638
267
–
470
628
4,969
2,136
292
397
254
694
261
–
497
644
5,175
$ 345
$ 540
$ 45
($136)
$ 104
$ 345
$ 265
5.4%
8.9%
0.9%
(2.8%)
2.1%
6.5%
4.9%
129,723
128,375
129,424
125,223
126,414
129,833
Freight Revenue:
U.S.
International Priority
International Airfreight
Total Freight Revenue
Other Revenue2
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment and other charges 3
Intercompany charges
Other
Operating Income (Loss)
SELECTED STATISTICS
Operating Margin
Average FTEs
125,266
1 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada, China, India and Mexico.
2 - Other revenue includes FedEx Trade Networks and, beginning in the second quarter of FY10, FedEx SupplyChain Systems.
3 - Q4 FY09 results include charges of $260 million related to noncash impairment charges associated with aircraft-related asset impairments and other charges primarily associated with aircraftrelated charges and other charges primarily associated with aircraft-related lease and contract termination costs and employee severance.
Unaudited. Differences may result due to rounding.
10 / Q3 FY10 Stat Book
FedEx Express
Annual Shipment Statistics
FY 2007 – FY 2010
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
1,174
706
1,880
898
2,778
487
135
3,400
1,151
677
1,828
895
2,723
517
296
3,536
1,127
627
1,754
849
2,603
475
298
3,376
1,157
608
1,765
876
2,641
511
315
3,467
9,569
1,878
1,831
13,278
8,648
2,220
1,817
12,685
7,287
1,959
1,475
10,721
7,217
2,427
1,230
10,874
$ 21.66
11.06
17.68
12.59
16.04
54.13
10.77
$ 21.28
$ 22.40
11.66
18.42
13.12
16.68
58.11
8.80
$ 22.08
$ 21.21
11.65
17.79
12.94
16.21
57.81
7.50
$ 21.30
$ 18.73
10.41
15.86
11.53
14.43
52.59
7.12
$ 19.39
$ 0.99
2.18
0.84
$ 1.14
$ 1.09
2.20
0.88
$ 1.25
$ 1.17
2.22
0.99
$ 1.34
$ 1.07
1.97
0.79
$ 1.24
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight (FO, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Package Volume Growth
Revenue Growth:
(2.4%)
(1.0%)
(1.9%)
(0.3%)
(1.4%)
4.5%
N/A
3.6%
(2.0%)
(4.1%)
(2.8%)
(0.3%)
(2.0%)
6.2%
119.3%
4.0%
(2.1%)
(7.4%)
(4.0%)
(5.1%)
(4.4%)
(8.1%)
0.7%
(4.5%)
3.1%
(2.1%)
1.3%
2.5%
1.7%
6.0%
5.0%
2.6%
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight (FO, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS
1.0%
0.8%
0.9%
1.1%
1.0%
9.5%
N/A
6.1%
1.4%
1.1%
1.4%
3.9%
2.0%
14.0%
79.7%
7.9%
(7.7%)
(7.8%)
(7.7%)
(6.9%)
(7.5%)
(9.0%)
(14.8%)
(8.3%)
(13.2%)
(16.3%)
(13.9%)
(12.1%)
(13.4%)
(6.9%)
(4.0%)
(10.6%)
7.3
$ 2.92
255
7.7
$ 2.87
255
7.4
$ 2.88
254
7.4
$ 2.62
190
AVG DAILY VOLUME / POUNDS
Average Daily Package Volume (000s):
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight (FO, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Avg Daily Packages
Average Daily Freight Pounds (000s):
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF) 1
International Airfreight (IXF/ATA) 1
Total Avg Daily Freight Pounds
YIELD
Revenue Per Package:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight (FO, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Composite Package Yield
Revenue Per Freight Pound:
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF) 1
International Airfreight (IXF/ATA) 1
Total Composite Freight Yield
PACKAGE GROWTH RATES
Average Daily Volume Growth:
1 - In FY07, the company reclassified certain revenues previously included within International Priority package revenues in the table above that were international priority
freight shipments to International Priority Freight to more precisely present the nature of the services provided. The company has reclassified the amounts for FY07 to
include these revenues within its Freight revenues.
2 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada,
China, India and Mexico.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
11
FedEx Express
Quarterly Shipment Statistics
FY 2007 – FY 2008
FY 2007
FY 2008
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
AVG. DAILY VOLUME / POUNDS
Avg. Daily Package Volume (000s):
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic 2
Total Avg Daily Packages
1,166
703
1,869
855
2,724
466
44
3,234
1,183
700
1,883
895
2,778
501
49
3,328
1,191
699
1,890
965
2,855
490
161
3,506
1,157
719
1,876
880
2,756
491
284
3,531
1,139
699
1,838
863
2,701
496
279
3,476
1,163
677
1,840
902
2,742
535
310
3,587
1,165
659
1,824
966
2,790
518
295
3,603
1,140
672
1,812
851
2,663
520
298
3,481
9,374
1,775
1,899
13,048
9,917
1,980
1,946
13,843
9,785
1,845
1,715
13,345
9,220
1,912
1,764
12,896
8,843
2,025
1,752
12,620
8,915
2,279
1,827
13,021
8,967
2,234
1,739
12,940
7,873
2,347
1,950
12,170
$ 21.83
11.19
17.83
12.69
16.21
54.97
18.33
$ 21.83
$ 21.92
11.06
17.88
12.70
16.21
53.72
18.41
$ 21.90
$ 21.29
11.01
17.49
12.37
15.76
52.52
11.40
$ 20.70
$ 21.58
10.99
17.53
12.62
15.96
55.29
7.99
$ 20.79
$ 21.83
11.26
17.81
12.67
16.17
56.42
8.59
$ 21.31
$ 22.06
11.27
18.09
12.84
16.36
56.63
8.90
$ 21.73
$ 22.51
11.93
18.69
13.14
16.77
57.85
8.77
$ 22.02
$ 23.22
12.20
19.13
13.86
17.45
61.51
8.92
$ 23.30
$ 1.00
2.16
0.84
$ 1.13
$ 1.00
2.18
0.86
$ 1.15
$ 0.97
2.20
0.85
$ 1.12
$ 0.99
2.20
0.82
$ 1.15
$ 1.03
2.22
0.83
$ 1.19
$ 1.08
2.17
0.83
$ 1.23
$ 1.09
2.19
0.89
$ 1.25
$ 1.17
2.20
0.96
$ 1.33
(1.2%)
(1.1%)
(1.2%)
(4.7%)
(2.3%)
5.7%
N/A
0.2%
(2.3%)
(0.3%)
(1.6%)
1.0%
(0.8%)
5.5%
N/A
1.6%
(2.8%)
(1.7%)
(2.4%)
–
(1.6%)
3.4%
N/A
3.9%
(3.3%)
(1.0%)
(2.4%)
2.6%
(0.9%)
3.4%
N/A
8.5%
(2.3%)
(0.6%)
(1.7%)
0.9%
(0.8%)
6.4%
N/A
7.5%
(1.7%)
(3.3%)
(2.3%)
0.8%
(1.3%)
6.8%
N/A
7.8%
(2.2%)
(5.7%)
(3.5%)
0.1%
(2.3%)
5.7%
N/A
2.8%
(1.5%)
(6.5%)
(3.4%)
(3.3%)
(3.4%)
5.9%
4.9%
(1.4%)
6.0%
4.5%
5.7%
2.6%
4.9%
14.1%
N/A
9.3%
1.8%
1.9%
1.8%
2.1%
1.9%
9.9%
N/A
6.1%
(1.5%)
(2.1%)
(1.6%)
(1.3%)
(1.6%)
7.3%
N/A
4.1%
(2.2%)
(1.0%)
(1.9%)
1.0%
(1.2%)
7.0%
N/A
5.0%
(2.4%)
0.2%
(1.8%)
0.9%
(1.1%)
9.3%
N/A
4.9%
(1.1%)
(1.8%)
(1.3%)
2.0%
(0.5%)
12.7%
N/A
6.9%
5.0%
4.2%
4.8%
8.0%
5.7%
18.3%
N/A
11.1%
4.4%
1.9%
3.8%
4.6%
4.0%
16.0%
16.3%
8.8%
Avg. Daily Freight Pounds (000s):
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF) 1
International Airfreight (IXF/ATA) 1
Total Avg Daily Freight Pounds
YIELD
Revenue Per Package:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic 2
Total Composite Package Yield
Revenue Per Freight Pound:
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF) 1
International Airfreight (IXF/ATA) 1
Total Composite Freight Yield
PACKAGE GROWTH RATES
Average Daily Volume Growth:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic 2
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic 2
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS
7.1
7.3
7.4
7.5
7.6
7.9
7.6
7.6
$ 3.07
$ 3.02
$ 2.80
$ 2.77
$ 2.80
$ 2.75
$ 2.90
$ 3.07
65
63
62
65
65
63
63
64
1 - In FY07, the company reclassified certain revenues previously included within International Priority package revenues in the table above that were international priority freight
shipments to International Priority Freight to more precisely present the nature of the services provided. The company has reclassified the amounts for FY07 to include these
revenues within its Freight revenues.
2 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada, China,
India and Mexico.
Unaudited. Differences may result due to rounding.
12 / Q3 FY10 Stat Book
FedEx Express
Quarterly Shipment Statistics
FY 2009 - FY2011
FY 2009
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
AVG. DAILY VOLUME / POUNDS
Avg. Daily Package Volume (000s):
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE)
International Domestic1
Total Avg Daily Packages
1,103
629
1,732
828
2,560
495
307
3,362
1,086
611
1,697
832
2,529
500
311
3,340
1,177
622
1,799
907
2,706
450
281
3,437
1,144
644
1,788
829
2,617
456
289
3,362
1,128
617
1,745
823
2,568
475
293
3,336
1,154
606
1,760
858
2,618
529
338
3,485
1,190
601
1,791
949
2,740
530
317
3,587
7,296
2,312
1,866
11,474
7,335
2,216
1,605
11,156
7,664
1,590
1,251
10,505
6,859
1,715
1,178
9,752
6,584
2,142
1,297
10,023
7,193
2,571
1,207
10,971
7,906
2,577
1,184
11,667
$ 24.24
13.04
20.17
14.38
18.30
64.54
8.63
$ 24.23
$ 23.66
12.62
19.68
14.13
17.86
61.30
8.06
$ 23.44
$ 19.02
10.85
16.19
11.94
14.77
53.12
6.63
$ 19.13
$ 18.22
10.15
15.31
11.39
14.07
51.29
6.52
$ 18.47
$ 18.16
10.17
15.33
11.23
14.02
51.61
7.05
$ 18.76
$ 18.87
10.36
15.95
11.58
14.51
52.88
7.09
$ 19.62
$ 19.16
10.70
16.32
11.77
14.74
53.23
7.22
$ 19.76
$ 1.28
2.30
1.10
$ 1.46
$ 1.29
2.32
1.09
$ 1.46
$ 1.08
2.21
0.88
$ 1.23
$ 1.02
2.01
0.78
$ 1.17
$ 1.05
1.87
0.72
$ 1.18
$ 1.08
1.98
0.83
$ 1.26
$ 1.07
2.06
0.84
$ 1.26
(3.2%)
(10.0%)
(5.8%)
(4.1%)
(5.2%)
(0.2%)
10.0%
(3.3%)
(6.6%)
(9.7%)
(7.8%)
(7.8%)
(7.8%)
(6.5%)
0.3%
(6.9%)
1.0%
(5.6%)
(1.4%)
(6.1%)
(3.0%)
(13.1%)
(4.7%)
(4.6%)
0.4%
(4.2%)
(1.3%)
(2.6%)
(1.7%)
(12.3%)
(3.0%)
(3.4%)
2.3%
(1.9%)
0.8%
(0.6%)
0.3%
(4.0%)
(4.6%)
(0.8%)
6.3%
(0.8%)
3.7%
3.1%
3.5%
5.8%
8.7%
4.3%
1.1%
(3.4%)
(0.4%)
4.6%
1.3%
17.8%
12.8%
4.4%
5.9%
2.5%
5.1%
7.2%
5.6%
12.3%
9.0%
8.3%
0.2%
1.0%
0.4%
1.4%
0.7%
1.0%
(9.2%)
0.5%
(14.6%)
(14.1%)
(14.5%)
(14.6%)
(14.6%)
(20.2%)
(28.2%)
(17.1%)
(21.3%)
(20.2%)
(21.0%)
(19.9%)
(20.7%)
(26.8%)
(29.8%)
(23.4%)
(22.2%)
(22.3%)
(22.2%)
(21.1%)
(21.9%)
(22.0%)
(21.2%)
(21.9%)
(15.3%)
(18.7%)
(16.1%)
(15.4%)
(15.9%)
(8.7%)
(4.4%)
(12.7%)
0.2%
(6.1%)
(1.3%)
1.5%
(0.5%)
16.0%
21.4%
6.1%
Avg. Daily Freight Pounds (000s):
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF)
International Airfreight (IXF/ATA)
Total Avg Daily Freight Pounds
YIELD
Revenue Per Package:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE)
International Domestic1
Total Composite Package Yield
Revenue Per Freight Pound:
U.S. (F1/F2/F3/Domestic ATA)
International Priority (IPF,IEF)
International Airfreight (IXF/ATA)
Total Composite Freight Yield
PACKAGE GROWTH RATES
Average Daily Volume Growth:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE)
International Domestic1
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE)
International Domestic1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS
7.6
7.7
7.1
7.1
7.2
7.6
7.5
$ 3.19
$ 3.04
$ 2.69
$ 2.60
$ 2.61
$ 2.58
$ 2.63
64
63
63
64
65
63
62
65
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
OPERATING WEEKDAYS
65
63
62
65
1 - International Domestic shipments are shipments where the origin and destination are both within the same non-U.S. country, including the United Kingdom, Canada, China, India and
Mexico.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
13
FedEx Express
Aircraft and Vehicle Fleet Statistics
FY 2007 – FY 2015
Aircraft Type
Max. Operational
Revenue Payload
(Lbs/Aircraft)1
May 31
As of
Feb. 28
To Be Delivered (Retired) in FY
2010 2011 2012 2013 2014 2015
2007
2008
2009
2010
Boeing 727-100
27,500
1
–
–
–
–
–
–
–
–
–
Boeing 727-200
38,200
94
90
79
77
(2)
(7)
(25)
(9)
(21)
(11)
Boeing 757-2002
45,800
4
12
24
34
–
18
8
–
–
–
Boeing DC10-10
108,700
13
5
1
–
–
–
–
–
–
–
Boeing DC10-303
114,200
13
10
6
2
–
(2)
–
–
–
–
Boeing MD10-10
108,700
50
58
57
58
–
–
–
–
–
–
Boeing MD10-303
114,200
7
10
12
16
(1)
2
(1)
(2)
(3)
–
Boeing MD11
164,200
58
58
57
59
–
–
–
–
–
(1)
Boeing 777F
178,000
–
–
–
3
1
4
4
2
3
3
Airbus A300-600
85,600
60
68
71
71
–
–
–
–
–
–
Airbus A310-200/300
61,900
66
66
56
49
–
(2)
(3)
(4)
–
–
Cessna 208A
1,900
10
10
10
10
–
–
–
–
–
–
Cessna 208B
2,500
243
243
242
242
–
–
–
–
–
–
Fokker F-27
9,850
8
5
–
–
–
–
–
–
–
–
ATR-72
14,660
13
13
13
13
–
–
–
–
–
–
ATR-42
10,880
29
29
26
26
–
–
–
–
–
–
669
677
654
660
(2)
13
(17)
(13)
(21)
(9)
Long-Haul Tractors
All Other Motorized Vehicles
2.7
40.9
2.7
41.6
2.7
40.2
2.9
38.9
Vehicle Fleet Total
43.6
44.3
42.9
41.8
Aircraft Fleet Total
Vehicle Fleet (000s)
NOTE: Aircraft fleet delivery schedule is subject to change.
1 - Maximum Operational Revenue Payload (MORP) is the lesser of the net volume-limited payload and the net maximum structural payload.
2 - February 28, 2010 757 count includes 6 aircraft that are not currently in operation but awaiting completion of modification and 9 aircraft
awaiting modification.
3 - February 28, 2010 DC10-30 count includes 2 aircraft that are not currently in operation but awaiting completion of modification. FY11
retirements and deliveries represent aircraft that will be converted to an MD10 configuration.
14 / Q3 FY10 Stat Book
FedEx Express
Jet Fuel Statistics
FY 2007 – FY 2010
FIRST
QUARTER
FY 2007
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
Jet Fuel Gallons (000s)
309,348
312,274
311,345
311,503
310,794
306,283
308,662
301,551
Price Per Gallon
$ 2.318
$ 2.072
$ 1.980
$ 2.115
$ 2.295
$ 2.559
$ 2.852
$ 3.377
$ 717,150
$ 646,913
$ 616,323
$ 658,788
$ 713,393
$ 783,874
Jet Fuel Expense ($000s)
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
$ 880,199 $ 1,018,220
FY 2010
SECOND
THIRD
QUARTER QUARTER
Jet Fuel Gallons (000s)
294,734
284,518
278,740
262,021
261,655
271,153
275,746
Price Per Gallon
$ 4.058
$ 3.014
$ 1.730
$ 1.511
$ 1.911
$ 2.081
$ 2.227
Jet Fuel Expense ($000s) $ 1,196,114
$ 857,659
$ 482,322
$ 395,888
$ 499,895
$ 564,146
$ 613,991
FOURTH
QUARTER
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
15
FedEx Ground Segment
Annual Consolidated Statements of Income
FY 2007 – FY 2010
Years ended May 31
In millions
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Intercompany charges2
Other
Operating Income
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
$ 6,043
$ 6,751
$ 7,047
$ 5,477
1,006
2,430
166
268
13
134
569
635
5,221
1,073
2,878
189
305
14
145
658
753
6,015
1,102
2,918
222
337
9
147
710
795
6,240
859
2,197
184
251
6
119
587
569
4,772
$ 822
$ 736
$ 807
$ 705
13.6%
10.9%
11.5%
12.9%
SELECTED STATISTICS
Operating Margin
1 - In FY09, the company reclassified certain fuel supplemental costs related to its independent contractors from fuel expense to purchased transportation
expense to conform to the current period presentation.
2 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the
FedEx Services reportable segment. Net operating costs of the FedEx Services segment are allocated to the transportation segments it supports.
FY07 amounts were revised to conform to the current segment presentation.
Unaudited. Differences may result due to rounding.
16 / Q3 FY10 Stat Book
FedEx Ground Segment
Quarterly Consolidated Statements of Income
FY 2007 – FY 2008
Years ended May 31
In millions
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Intercompany charges2
Other
Operating Income
FY 2007
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 1,417
$ 1,520
$ 1,523
$ 1,583
$ 1,618
$ 1,698
$ 1,720
$ 1,715
241
582
36
61
2
31
134
171
1,258
256
616
44
65
4
32
145
165
1,327
251
619
45
71
4
35
141
161
1,327
258
613
41
71
3
36
149
138
1,309
260
652
43
73
2
34
159
205
1,428
272
739
50
77
4
38
165
180
1,525
272
745
49
77
5
36
172
194
1,550
269
742
47
78
3
37
162
174
1,512
$ 159
$ 193
$ 196
$ 274
$ 190
$ 173
$ 170
$ 203
11.2%
12.7%
12.9%
17.3%
11.7%
10.2%
9.9%
11.8%
SELECTED STATISTICS
Operating Margin
1 - In FY09, the company reclassified certain fuel supplemental costs related to its independent contractors from fuel expense to purchased transportation expense to conform to the
current period presentation.
2 - In FY08, the company revised its reportable segments as a result of an internal reorganization of FedEx Office. As a result, FedEx Office is part of the FedEx Services reportable
segment. Net operating costs of the FedEx Services segment are allocated to the transportation segments it supports. FY07 amounts were revised to conform to the current segment
presentation.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
17
FedEx Ground Segment
Quarterly Consolidated Statements of Income
FY 2009 – FY 2010
Years ended May 31
In millions
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Intercompany charges
Other
Operating Income
FY 2009
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER
QUARTER
$ 1,761
$ 1,789
$ 1,793
$ 1,704
$ 1,730
$ 1,837
$ 1,910
267
771
51
80
2
37
178
179
1,565
279
745
58
81
3
37
180
194
1,577
278
725
58
85
3
35
180
233
1,597
278
677
55
91
1
38
172
189
1,501
282
693
58
85
1
38
184
180
1,521
288
733
63
83
2
40
196
194
1,599
289
771
63
83
3
41
207
195
1,652
$ 196
$ 212
$ 196
$ 203
$ 209
$ 238
$ 258
11.1%
11.9%
10.9%
11.9%
12.1%
13.0%
13.5%
FOURTH
QUARTER
SELECTED STATISTICS
Operating Margin
1 - In FY09, the company reclassified certain fuel supplemental costs related to its independent contractors from fuel expense to purchased transportation expense to conform to the
current period presentation.
Unaudited. Differences may result due to rounding.
18 / Q3 FY10 Stat Book
FedEx Ground Segment
Annual Shipment Statistics
FY 2007 – FY 2010
FedEx Ground
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
Average Daily YOY Volume Growth Rate
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
Average Daily YOY Volume Growth Rate
OPERATING WEEKDAYS
FY 2007
FY 2008
FY 2009
Q3 YTD
FY 2010
797,130
3,126
$ 7.21
858,101
3,365
$ 7.48
864,660
3,404
$ 7.70
669,940
3,526
$ 7.63
11.0%
7.6%
1.2%
255
255
254
190
151,547
599
$ 1.88
156,958
618
$ 2.09
208,315
827
$ 1.81
234,542
1,248
$ 1.53
N/A
253
2.5%
3.2%
33.8%
58.0%
254
252
188
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
19
FedEx Ground Segment
Quarterly Shipment Statistics
FY 2007 – FY 2011
FY 2007
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
Avg. Daily YOY Pkg. Growth Rate
190,190
2,926
$ 7.13
13.1%
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
204,246
3,242
$ 7.04
14.0%
199,392
3,216
$ 7.26
203,320
3,128
$ 7.43
7.1%
5.7%
65
63
62
65
65
63
63
64
33,540
516
$ 1.75
41,391
657
$ 1.95
38,820
647
$ 1.92
37,895
583
$ 1.90
34,775
535
$ 2.01
43,008
672
$ 2.12
43,127
707
$ 2.11
36,029
563
$ 2.11
N/A
OPERATING WEEKDAYS
65
63
60
65
FY 2009
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
213,676
3,339
$ 7.86
4.0%
OPERATING WEEKDAYS
218,812
3,473
$ 7.70
(0.9%)
221,169
3,511
$ 7.62
1.9%
211,003
3,297
$ 7.63
(0.2%)
3.7%
65
2.3%
9.3%
64
61
215,200
3,311
$ 7.60
(0.8%)
226,943
3,602
$ 7.54
227,797
3,674
$ 7.75
3.7%
4.6%
63
63
64
65
63
62
37,387
584
$ 2.14
48,982
777
$ 2.07
62,189
1,020
$ 1.67
59,756
934
$ 1.54
65,554
1,009
$ 1.41
79,676
1,265
$ 1.57
89,312
1,489
$ 1.59
9.2%
64
15.6%
63
44.3%
61
65.8%
64
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
OPERATING WEEKDAYS
65
63
62
65
FedEx SmartPost
OPERATING WEEKDAYS
65
63
62
65
Unaudited. Differences may result due to rounding.
(3.5%)
64
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
64
OPERATING WEEKDAYS
20 / Q3 FY10 Stat Book
211,527
3,305
$ 7.74
8.1%
N/A
Avg. Daily YOY Pkg. Growth Rate
217,035
3,445
$ 7.50
9.7%
N/A
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
220,815
3,505
$ 7.27
8.1%
N/A
Avg. Daily YOY Pkg. Growth Rate
208,715
3,211
$ 7.41
9.2%
Avg. Daily YOY Pkg. Growth Rate
FedEx Ground
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
FY 2008
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
72.8%
65
62.8%
63
65
46.0%
60
65
FedEx Freight Segment
Annual Consolidated Statements of Income
FY 2007 – FY 2010
Years ended May 31
In millions
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment and other charges3
Intercompany charges2
Other
Operating Income (Loss)
FY 20071
FY 2008
FY 2009
Q3 YTD
FY 2010
$ 4,586
$ 4,934
$ 4,415
$ 3,090
2,250
465
112
195
468
165
–
61
407
4,123
2,381
582
119
227
608
175
–
81
432
4,605
2,247
540
139
224
520
153
100
109
427
4,459
1,552
477
85
150
310
105
–
249
279
3,207
$ 463
$ 329
($44)
($117)
10.1%
6.7%
(1.0%)
(3.8%)
SELECTED STATISTICS
Operating Margin
1 - The results of operations of FedEx National LTL are included in FedEx Freight segment results from the date of its acquisition on September 3, 2006.
2 - In Q1 FY10, approximately 2,700 FedEx Freight segment employees were transferred to FedEx Services and FCIS. These employees represented the sales,
information technology, marketing, pricing, customer service, claims and credit and collection functions of the FedEx Freight segment and were transferred to allow
further centralization of these functions into the FedEx Services segment shared service organization. For FY10, the costs of the functions will be allocated to the
FedEx Freight segment through intercompany charges.
3 - Results for FY09 include charges of $100 million related to noncash impairment charges associated with goodwill related to the Watkins Motor Lines acquisition and
other charges primarily associated with employee severance.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
21
FedEx Freight Segment
Quarterly Consolidated Statements of Income
FY 2007 – FY 2008
Years ended May 31
In millions
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other
Operating Income
FY 2007
SECOND
THIRD
1
QUARTER QUARTER1
FOURTH
QUARTER1
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
$ 1,013
$ 1,225
$ 1,101
$ 1,247
$ 1,233
$ 1,236
$ 1,155
$ 1,310
484
83
23
31
112
32
14
84
863
592
140
30
52
116
45
16
96
1,087
569
117
30
55
111
42
15
112
1,051
605
125
29
57
129
46
16
115
1,122
595
130
28
57
130
47
21
120
1,128
607
147
29
58
141
45
20
110
1,157
582
139
30
56
148
39
20
95
1,109
597
166
32
56
189
44
20
107
1,211
$ 150
$ 138
$ 50
$ 125
$ 105
$ 79
$ 46
$ 99
14.8%
11.3%
4.5%
10.0%
8.5%
6.4%
4.0%
7.6%
SELECTED STATISTICS
Operating Margin
1 - The results of operations of FedEx National LTL are included in FedEx Freight segment results from the date of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.
22 / Q3 FY10 Stat Book
FedEx Freight Segment
Quarterly Consolidated Statements of Income
FY 2009 – FY 2010
Years ended May 31
In millions
FIRST
QUARTER
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment and other charges2
Intercompany charges1
Other
Operating Income (Loss)
FY 2009
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER QUARTER
$ 1,353
$ 1,200
$ 914
$ 948
$ 982
$ 1,068
$ 1,040
614
180
33
54
206
43
–
22
112
1,264
592
151
35
53
150
41
–
29
117
1,168
529
104
34
59
83
33
–
29
102
973
512
105
37
58
81
36
100
29
96
1,054
507
118
29
55
94
34
–
52
91
980
513
168
27
46
104
35
–
98
89
1,080
532
191
29
49
112
36
–
99
99
1,147
$ 89
$ 32
($59)
($106)
$2
($12)
($107)
6.6%
2.7%
(6.5%)
(11.2%)
0.2%
(1.1%)
(10.3%)
FOURTH
QUARTER
SELECTED STATISTICS
Operating Margin
1 - In Q1 FY10, approximately 2,700 FedEx Freight segment employees were transferred to FedEx Services and FCIS. These employees represented the sales, information technology,
marketing, pricing, customer service, claims and credit and collection functions of the FedEx Freight segment and were transferred to allow further centralization of these functions into
the FedEx Services segment shared service organization. For FY10, the costs of the functions will be allocated to the FedEx Freight segment through intercompany charges.
2 - Q4 FY09 results include charges of $100 million related to noncash impairment charges associated with goodwill related to the Watkins Motor Lines acquisition and other charges
primarily associated with employee severance.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
23
FedEx Freight
Annual LTL Shipment Statistics
FY 2007 – FY 2010
FY 2008
FY 2009
Q3 YTD
FY 2010
78,236
79,706
74,389
79,098
1,130
1,136
1,126
1,124
$ 18.65
$ 19.65
$ 19.07
$ 17.24
FY 2007
Shipments Per Day
Weight Per Shipment
LTL Yield (Revenue Per Hundredweight)
Avg. Daily Shipment Growth Rate
OPERATING WEEKDAYS
1
17.2%
1.9%
254
253
(6.7%)
252
1 - The results of operations of FedEx National LTL are included in FedEx Freight segment results from the date of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.
24 / Q3 FY10 Stat Book
3.5%
188
FedEx Freight
Quarterly LTL Shipment Statistics
FY 2007 – FY 2011
FY 2007
FIRST
SECOND
THIRD
FOURTH
1
1
1
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Weight Per Shipment
LTL Yield (Revenue Per Hundredweight)
Avg. Daily Shipment Growth Rate
OPERATING WEEKDAYS
69,635
86,976
77,096
79,701
79,331
81,928
75,468
82,038
1,130
1,127
1,129
1,136
1,131
1,129
1,143
1,142
$ 17.90
$ 18.73
$ 18.68
$ 19.18
$ 19.39
$ 19.56
$ 19.63
$ 19.98
6.6%
27.4%
20.1%
15.2%
13.9%
65
61
62
66
65
FY 2009
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Weight Per Shipment
LTL Yield (Revenue Per Hundredweight)
Avg. Daily Shipment Growth Rate
(5.8%)
62
(2.1%)
65,991
68,448
71,384
82,928
83,426
1,140
1,122
1,121
1,119
1,109
1,128
1,133
$ 20.44
$ 19.44
$ 18.21
$ 17.78
$ 17.87
$ 17.09
$ 16.82
(12.6%)
(16.6%)
(13.7%)
3.3%
26.4%
62
61
64
62
62
64
64
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
80,305
(2.0%)
2.9%
62
82,735
4.3%
OPERATING WEEKDAYS
FY 2008
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
65
65
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
OPERATING WEEKDAYS
65
62
62
65
1 - The results of operations of FedEx National LTL are included in FedEx Freight segment results from the date of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.
Q3 FY10 Stat Book /
25