Q1 Fiscal 2011 Statistics
FedEx Corporation
Financial and Operating Statistics
First Quarter Fiscal 2011
September 16, 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
Stephen Hughes, Director
Jeff Smith, Director
Elizabeth Allen, 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
FY2008 – FY2009
FY2010 – FY2011
CAPITAL EXPENDITURES
1
2
3
4
5
6
7
• FEDEX EXPRESS SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2008 – FY2009
FY2010 – FY2011
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
FY2008 – FY2009
FY2010 – FY2012
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
FY2008 – FY2009
FY2010 – FY2011
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
16
17
18
19
20
• FEDEX FREIGHT SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2008 – FY2009
FY2010 – FY2011
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 $36 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 3.5 million shipments each
business day.
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 is the market leader in providing less-than-truckload (LTL) freight services across all lengths
of haul. FedEx Freight segment financial results also include FedEx Custom Critical, North America’s
largest time-specific, 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:
314,645,054 (as of August 31, 2010)
STOCKHOLDERS OF RECORD:
14,798 (as of August 31, 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
Q1 FY11 Stat Book / 1
FedEx Corporation
Condensed Consolidated Balance Sheets
FY 2008 – FY 2011
May 31
In millions (except share data)
.
FY 2008
FY 2009
FY 2010
Aug. 31,
2010
$ 1,539
4,359
435
544
367
7,244
$ 2,292
3,391
367
511
555
7,116
$ 1,952
4,163
389
529
251
7,284
$ 1,709
4,135
377
529
286
7,036
10,165
4,817
5,040
2,754
6,529
29,305
10,118
4,960
4,280
3,078
6,824
29,260
11,640
5,193
4,218
3,170
7,081
31,302
31,773
15,827
15,843
16,917
17,094
Net property and equipment
13,478
13,417
14,385
14,679
Other Long-Term Assets
Goodwill
Pension assets
Intangible and other assets
Total other long-term assets
3,165
827
919
4,911
2,229
311
1,171
3,711
2,200
–
1,033
3,233
2,211
–
1,286
3,497
$ 25,633
$ 24,244
$ 24,902
$ 25,212
Current Liabilities
Current portion of long-term debt
Accrued salaries and employee benefits
Accounts payable
Accrued expenses
Total current liabilities
$ 502
1,118
2,195
1,553
5,368
$ 653
861
1,372
1,638
4,524
$ 262
1,146
1,522
1,715
4,645
$ 251
1,081
1,423
1,786
4,541
Long-Term Debt, Less Current Portion
1,506
1,930
1,668
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
1,264
989
804
671
315
190
4,233
1,071
934
904
802
289
164
4,164
891
1,705
960
804
267
151
4,778
902
1,693
960
828
263
152
4,798
31
1,922
13,002
(425)
(4)
14,526
31
2,053
12,919
(1,373)
(4)
13,626
31
2,261
13,966
(2,440)
(7)
13,811
31
2,302
14,270
(2,386)
(12)
14,205
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
$ 25,633
$ 24,244
$ 24,902
$ 25,212
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. FY10
amount includes other comprehensive income charge of $1.0 billion, net of taxes, related to the funded status of our retirement plans at May 31, 2010.
Current period financial results are unaudited. Differences may result due to rounding.
2 / Q1 FY11 Stat Book
FedEx Corporation
Condensed Consolidated Statements of Cash Flows
FY 2008 – FY 2011
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 2008
FY 2009
FY 2010
Q1 YTD
FY 20111
$ 1,125
$ 98
$ 1,184
$ 380
1,946
134
124
882
101
1,975
181
299
1,103
99
1,958
124
331
18
101
479
–
98
(161)
(447)
(237)
(273)
190
(80)
762
(196)
(913)
(628)
(27)
(906)
276
(611)
710
(47)
3,465
2,753
3,138
INVESTING ACTIVITIES
Capital expenditures
Business acquisitions, net of cash acquired
Proceeds from asset dispositions and other
(2,947)
(4)
54
(2,459)
(3)
79
(2,816)
–
35
(1,012)
Cash used in investing activities
(2,897)
(2,383)
(2,781)
(1,009)
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
(639)
–
108
38
(124)
–
(501)
1,000
41
4
(137)
(7)
(653)
–
94
25
(138)
(20)
(12)
–
Cash (used in) provided by financing activities
(617)
400
(692)
(41)
19
(17)
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
(30)
1,569
$ 1,539
753
1,539
$ 2,292
(5)
(340)
2,292
$ 1,952
796
3
(38)
9
11
(243)
1,952
$ 1,709
1 - FY11 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.
Q1 FY11 Stat Book /
3
FedEx Corporation
Annual Consolidated Statements of Income
FY 2008 – FY 2011
Years ended May 31
In millions, except EPS and FTEs
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
FY 2008
FY 2009
FY 2010
Q1 YTD
FY 2011
$ 24,421
6,751
4,934
2,138
$ 22,364
7,047
4,415
1,977
$ 21,555
7,439
4,321
1,770
$ 5,912
1,961
1,258
415
Other & eliminations
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation2
Rentals and landing fees
Depreciation and amortization
Fuel2
Maintenance and repairs
Impairment and other charges1
Other
Total Operating Expenses
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1
Total Operating Income
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
Income Before Income Taxes
(291)
37,953
(306)
35,497
(351)
34,734
(89)
9,457
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
14,027
4,728
2,359
1,958
3,106
1,715
18
4,825
32,736
3,803
1,327
601
479
887
517
–
1,215
8,829
Provision for Income Taxes
Net Income
891
$ 1,125
579
$ 98
710
$ 1,184
223
$ 380
Basic Earnings Per Share1
$ 3.64
$ 0.31
$ 3.78
$ 1.21
309
311
312
314
$ 3.60
$ 0.31
$ 3.76
$ 1.20
312
312
314
315
5.5%
5.3%
4.5%
8.3%
254,142
$ 0.40
2.1%
1.9%
0.4%
0.7%
247,908
$ 0.44
5.8%
5.5%
4.8%
8.6%
245,109
$ 0.44
6.6%
6.4%
5.6%
9.9%
251,903
$ 0.12
Weighted Avg. Common Shares
Diluted Earnings Per Share
1
Avg Common and Common Equiv. Shares
SELECTED STATISTICS
Operating Margin
Pretax Margin
Return on Assets3
Return on Equity3
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
1,901
736
329
(891)
2,075
794
807
(44)
(810)
747
1,127
1,024
(153)
–
1,998
357
287
(16)
–
628
(54)
(5)
(59)
2,016
(59)
(11)
(70)
677
(71)
(33)
(104)
1,894
(18)
(7)
(25)
603
1 - 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.
2 - 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.
3 - 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 / Q1 FY11 Stat Book
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2008 – FY 2009
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 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 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
$ 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
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
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
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment1
Total Operating Income (Loss)
519
190
105
–
814
531
173
79
–
783
425
170
46
–
641
426
203
99
(891)
(163)
345
196
89
–
630
540
212
32
–
784
45
196
(59)
–
182
(136)
203
(106)
(810)
(849)
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
(25)
(2)
(27)
(15)
–
(15)
(10)
(3)
(13)
(4)
–
(4)
(9)
(3)
(12)
(10)
–
(10)
(19)
(4)
(23)
(21)
(4)
(25)
Income (Loss) Before Income Taxes
787
768
628
(167)
618
774
159
(874)
Provision for Income Taxes
293
289
235
74
234
281
62
Net Income (Loss)
$ 494
$ 479
$ 393
($241)
$ 384
$ 493
$ 97
($876)
Basic Earnings Per Share1
$ 1.60
$ 1.55
$ 1.27
($0.78)
$ 1.24
$ 1.59
$ 0.31
($2.82)
308
309
309
311
311
311
$ 1.58
$ 1.54
$ 1.26
$ 1.23
$ 1.58
$ 0.31
312
312
312
310
313
312
312
8.8%
8.6%
8.3%
8.1%
6.8%
6.7%
(1.7%)
(1.7%)
6.3%
6.2%
8.2%
8.1%
2.2%
2.0%
250,678
256,038
256,252
253,636
252,046
251,852
247,892
239,335
$ 0.10
$ 0.10
$ 0.10
$ 0.10
$ 0.11
$ 0.11
$ 0.11
$ 0.11
Operating Expenses:
Salaries and employee benefits
Purchased transportation2
Rentals and landing fees
Depreciation and amortization
Fuel2
Maintenance and repairs
Impairment charges1
Other
Total Operating Expenses
Weighted Avg. Common Shares
Diluted Earnings Per Share1
Avg Common and Common Equiv. Shares
310
($0.78)
2
311
($2.82)
311
SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
(10.8%)
(11.1%)
1 - Q4 FY08 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. 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. These charges included in the results of the FedEx
Services Segment were not allocated to our transportation segments as they were unrelated to the core performance of these businesses.
.
2 - 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.
Q1 FY11 Stat Book /
5
FedEx Corporation
Quarterly Consolidated Statements of Income
FY 2010 – FY 2011
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 2010
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
$ 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
$ 5,877
1,962
1,231
448
(90)
9,428
$ 5,912
1,961
1,258
415
(89)
9,457
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
3,677
1,299
595
488
886
500
18
1,269
8,732
3,803
1,327
601
479
887
517
–
1,215
8,829
Operating Income (Loss):
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Total Operating Income
104
209
2
–
315
345
238
(12)
–
571
265
258
(107)
–
416
413
319
(36)
–
696
357
287
(16)
–
628
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
(18)
(3)
(21)
(15)
(9)
(24)
(19)
(16)
(35)
(19)
(5)
(24)
(18)
(7)
(25)
Income Before Income Taxes
294
547
381
672
603
Provision for Income Taxes
113
202
142
253
223
Net Income
$ 181
$ 345
$ 239
$ 419
$ 380
Basic Earnings Per Share
$ 0.58
$ 1.10
$ 0.76
$ 1.34
$ 1.21
312
312
312
313
314
$ 0.58
$ 1.10
$ 0.76
$ 1.33
$ 1.20
312
314
315
316
315
3.9%
3.7%
6.6%
6.4%
4.8%
4.4%
7.4%
7.1%
6.6%
6.4%
238,548
243,572
249,578
248,047
251,903
$ 0.11
$ 0.11
$ 0.11
$ 0.11
$ 0.12
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Impairment and other charges
Other
Total Operating Expenses
Weighted Avg. Common Shares
Diluted Earnings Per Share
Avg Common and Common Equiv. Shares
SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share
Unaudited. Differences may result due to rounding.
6 / Q1 FY11 Stat Book
FY 2011
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FedEx Corporation
Capital Spending
FY 2008 – FY 2011
Years ended May 31
In millions
FY 2008
FY 2009
FY 2010
Q1 YTD
FY 2011
By Asset Type
Aircraft and Related Equipment
Facilities and Sort Equipment
Vehicles
Information Technology Investments
Other Equipment
Total
$ 998
900
404
366
279
$ 2,947
$ 925
742
319
298
175
$ 2,459
$ 1,537
630
220
289
140
$ 2,816
$ 747
70
104
71
20
$ 1,012
By Segment
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
FedEx Services segment
Other
Total
$ 1,716
509
266
455
1
$ 2,947
$ 1,348
636
240
235
–
$ 2,459
$ 1,864
400
212
340
–
$ 2,816
$ 844
72
32
64
–
$ 1,012
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
7
FedEx Express Segment
Annual Consolidated Statements of Income
FY 2008 – FY 2011
Years ended May 31
In millions, except FTEs
FY 2008
FY 2009
FY 2010
Q1 YTD
FY 2011
$ 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
$ 5,602
1,640
7,242
2,589
9,831
7,087
578
17,496
$ 1,491
432
1,923
661
2,584
1,974
148
4,706
2,398
1,243
406
4,047
2,165
1,104
369
3,638
1,980
1,303
251
3,534
523
406
70
999
460
465
525
207
24,421
22,364
21,555
5,912
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
8,402
1,177
1,577
1,016
2,651
1,131
–
1,940
2,534
20,428
2,258
369
403
255
754
352
–
513
651
5,555
$ 1,901
$ 794
$ 1,127
$ 357
7.8%
3.6%
5.2%
6.0%
131,242
128,197
127,828
131,592
Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Package Revenue
International Priority
International Domestic1
Total Package Revenue
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 charges3
Intercompany charges
Other
Operating Income
SELECTED STATISTICS
Operating Margin
Average FTEs
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 - 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.
Current period financial results are unaudited. Differences may result due to rounding.
8 / Q1 FY11 Stat Book
FedEx Express Segment
Quarterly Consolidated Statements of Income
FY 2008 – FY 2009
Years ended May 31
In millions, except FTEs
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2009
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
$ 1,615
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
$ 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
593
292
94
979
604
312
96
1,012
614
309
96
1,019
587
330
120
1,037
598
340
131
1,069
594
323
111
1,028
523
221
69
813
450
220
58
728
96
115
111
138
138
137
95
95
5,889
6,037
6,129
6,366
6,419
6,098
5,050
4,797
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
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
$ 519
$ 531
$ 425
$ 426
$ 345
$ 540
$ 45
($136)
8.8%
8.8%
6.9%
6.7%
5.4%
8.9%
0.9%
(2.8%)
131,013
131,031
132,254
130,672
129,723
128,375
129,424
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 charges3
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.
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.
Q1 FY11 Stat Book /
9
FedEx Express Segment
Quarterly Consolidated Statements of Income
FY 2010 – FY 2011
Years ended May 31
In millions, except FTEs
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2011
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
$ 1,331
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
$ 1,486
437
1,923
670
2,593
1,982
151
4,726
$ 1,491
432
1,923
661
2,584
1,974
148
4,706
449
260
61
770
490
321
63
874
525
329
61
915
516
393
66
975
523
406
70
999
86
133
130
176
207
4,924
5,314
5,440
5,877
5,912
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
2,187
347
399
259
748
342
504
678
5,464
2,258
369
403
255
754
352
513
651
5,555
$ 104
$ 345
$ 265
$ 413
$ 357
2.1%
6.5%
4.9%
7.0%
6.0%
125,223
126,414
129,833
128,998
131,592
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
Intercompany charges
Other
Operating Income
SELECTED STATISTICS
Operating Margin
Average FTEs
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.
Unaudited. Differences may result due to rounding.
10 / Q1 FY11 Stat Book
FedEx Express
Annual Shipment Statistics
FY 2008 – FY 2011
FY 2009
FY 2010
Q1 YTD
FY 2011
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
614
1,771
867
2,638
523
318
3,479
1,168
624
1,792
846
2,638
566
323
3,527
8,648
2,220
1,817
12,685
7,287
1,959
1,475
10,721
7,141
2,544
1,222
10,907
6,908
3,027
1,240
11,175
$ 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
$ 19.00
10.47
16.04
11.70
14.61
53.10
7.14
$ 19.72
$ 19.65
10.64
16.51
12.01
15.07
53.70
7.04
$ 20.52
$ 1.09
2.20
0.88
$ 1.25
$ 1.17
2.22
0.99
$ 1.34
$ 1.09
2.01
0.81
$ 1.27
$ 1.16
2.06
0.87
$ 1.38
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)
International Domestic1
Total Package Volume Growth
Revenue Growth:
(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%)
2.7%
(2.1%)
1.0%
2.1%
1.3%
10.1%
6.7%
3.1%
3.5%
1.1%
2.7%
2.8%
2.7%
19.2%
10.2%
5.7%
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)
International Domestic1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS
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%)
(7.8%)
(11.6%)
(8.7%)
(7.2%)
(8.3%)
1.6%
2.3%
(4.2%)
12.0%
5.9%
10.6%
10.0%
10.4%
23.8%
10.4%
15.7%
7.7
$ 2.87
255
7.4
$ 2.88
254
7.5
$ 2.63
255
7.7
$ 2.66
65
FY 2008
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)
International Domestic1
Total Avg Daily Packages
Average 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 (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)
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:
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.
Q1 FY11 Stat Book /
11
FedEx Express
Quarterly Shipment Statistics
FY 2008 – FY 2009
FY 2008
FY 2009
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)
International Domestic1
Total Avg Daily Packages
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
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
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
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
$ 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
$ 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
$ 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
$ 1.28
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
(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%)
(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%)
(2.4%)
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%
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%)
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
7.9
7.6
7.6
7.6
7.7
7.1
7.1
$ 2.80
$ 2.75
$ 2.90
$ 3.07
$ 3.19
$ 3.04
$ 2.69
$ 2.60
65
63
63
64
64
63
63
64
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.
12 / Q1 FY11 Stat Book
FedEx Express
Quarterly Shipment Statistics
FY 2010 - FY2012
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FY 2011
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
1,128
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
1,156
632
1,788
843
2,631
560
323
3,514
1,168
624
1,792
846
2,638
566
323
3,527
6,584
2,142
1,297
10,023
7,193
2,571
1,207
10,971
7,906
2,577
1,184
11,667
6,916
2,889
1,198
11,003
6,908
3,027
1,240
11,175
$ 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
$ 19.77
10.64
16.55
12.23
15.16
54.45
7.22
$ 20.69
$ 19.65
10.64
16.51
12.01
15.07
53.70
7.04
$ 20.52
$ 1.05
1.87
0.72
$ 1.18
$ 1.08
1.98
0.83
$ 1.26
$ 1.07
2.06
0.84
$ 1.26
$ 1.15
2.09
0.85
$ 1.36
$ 1.16
2.06
0.87
$ 1.38
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%
1.0%
(1.9%)
–
1.7%
0.5%
22.8%
11.8%
4.5%
3.5%
1.1%
2.7%
2.8%
2.7%
19.2%
10.2%
5.7%
(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%
11.4%
4.5%
9.8%
10.7%
10.0%
32.4%
25.8%
18.9%
12.0%
5.9%
10.6%
10.0%
10.4%
23.8%
10.4%
15.7%
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
7.2
7.6
7.5
7.6
7.7
$ 2.61
$ 2.58
$ 2.63
$ 2.72
$ 2.66
65
63
62
65
65
63
62
65
FY 2012
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
OPERATING WEEKDAYS
65
63
63
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.
Q1 FY11 Stat Book /
13
FedEx Express
Aircraft and Vehicle Fleet Statistics
FY 2008 – FY 2016
Aircraft Type
Max. Operational
Revenue Payload
(Lbs/Aircraft)1
May 31
As of
Aug. 31
To Be Delivered (Retired) in FY
2011 2012 2013 2014 2015 2016
2008
2009
2010
2010
Boeing 727-200
38,200
90
79
77
77
(9)
(25)
(10)
(16)
(11)
(6)
Boeing 757-2002
45,800
12
24
36
42
10
8
–
–
–
–
Boeing DC10-10
108,700
5
1
–
–
–
–
–
–
–
–
Boeing DC10-30
114,200
10
6
2
–
–
–
–
–
–
–
Boeing MD10-10
108,700
58
57
58
58
–
–
–
–
–
–
Boeing MD10-30
114,200
10
12
15
17
–
(1)
(2)
(3)
–
–
Boeing MD11
164,200
58
57
59
59
–
–
–
–
(1)
(1)
Boeing 777F
178,000
–
–
6
8
4
5
5
3
3
3
Airbus A300-600
85,600
68
71
71
71
–
–
–
–
–
–
Airbus A310-200/300
61,900
66
56
49
53
–
(3)
–
–
–
–
Cessna 208A
1,900
10
10
10
10
–
–
–
–
–
–
Cessna 208B
2,500
243
242
242
242
–
–
–
–
–
–
Fokker F-27
9,850
5
–
–
–
–
–
–
–
–
–
ATR-723
14,660
13
13
13
21
–
–
–
–
–
–
ATR-42
10,880
29
26
26
26
–
–
–
–
–
–
677
654
664
684
5
(16)
(7)
(16)
(9)
(4)
Long-Haul Tractors
All Other Motorized Vehicles
2.7
41.6
2.7
40.2
2.8
38.5
2.8
38.9
Vehicle Fleet Total
44.3
42.9
41.3
41.7
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 - August 31, 2010 757 count includes 7 aircraft that are not currently in operation but awaiting completion of modification and 9 aircraft
awaiting modification.
3 - August 31, 2010 ATR-72 count includes 3 aircraft that are not currently in operation but awaiting completion of modification and 5 aircraft
awaiting modification.
14 / Q1 FY11 Stat Book
FedEx Express
Jet Fuel Statistics
FY 2008 – FY 2011
FIRST
QUARTER
FY 2008
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
Jet Fuel Gallons (000s)
310,794
306,283
308,662
301,551
294,734
284,518
278,740
262,021
Price Per Gallon
$ 2.295
$ 2.559
$ 2.852
$ 3.377
$ 4.058
$ 3.014
$ 1.730
$ 1.511
$ 713,393
$ 783,874
$ 880,199 $ 1,018,220
$ 1,196,114
$ 857,659
$ 482,322
$ 395,888
FY 2011
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
Jet Fuel Expense ($000s)
FIRST
QUARTER
FY 2010
SECOND
THIRD
QUARTER QUARTER
FOURTH
QUARTER
FIRST
QUARTER
Jet Fuel Gallons (000s)
261,655
271,153
275,746
281,865
295,682
Price Per Gallon
$ 1.911
$ 2.081
$ 2.227
$ 2.357
$ 2.274
$ 499,895
$ 564,146
$ 613,991
$ 664,307
$ 672,305
Jet Fuel Expense ($000s)
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
15
FedEx Ground Segment
Annual Consolidated Statements of Income
FY 2008 – FY 2011
Years ended May 31
In millions
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Intercompany charges
Other
Operating Income
FY 2010
Q1 YTD
FY 2011
FY 2008
FY 2009
$ 6,423
328
6,751
$ 6,670
377
7,047
$ 6,958
481
7,439
$ 1,839
122
1,961
1,073
2,878
189
305
14
145
658
753
6,015
1,102
2,918
222
337
9
147
710
795
6,240
1,158
2,966
244
334
8
166
795
744
6,415
307
782
62
82
1
44
221
175
1,674
$ 736
$ 807
$ 1,024
$ 287
10.9%
11.5%
13.8%
14.6%
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.
16 / Q1 FY11 Stat Book
FedEx Ground Segment
Quarterly Consolidated Statements of Income
FY 2008 – FY 2009
Years ended May 31
In millions
FIRST
QUARTER
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Intercompany charges
Other
Operating Income
FY 2008
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 1,548
70
1,618
$ 1,607
91
1,698
$ 1,629
91
1,720
$ 1,639
76
1,715
$ 1,681
80
1,761
$ 1,688
101
1,789
$ 1,689
104
1,793
$ 1,612
92
1,704
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
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
$ 190
$ 173
$ 170
$ 203
$ 196
$ 212
$ 196
$ 203
11.7%
10.2%
9.9%
11.8%
11.1%
11.9%
10.9%
11.9%
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.
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
17
FedEx Ground Segment
Quarterly Consolidated Statements of Income
FY 2010 – FY 2011
Years ended May 31
In millions
FIRST
QUARTER
Revenues:
FedEx Ground
FedEx SmartPost
Total Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other
Operating Income
FY 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
$ 1,637
93
1,730
$ 1,712
125
1,837
$ 1,768
142
1,910
$ 1,840
122
1,962
$ 1,839
122
1,961
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
299
769
60
83
2
47
208
175
1,643
307
782
62
82
1
44
221
175
1,674
$ 209
$ 238
$ 258
$ 319
$ 287
12.1%
13.0%
13.5%
16.3%
14.6%
SELECTED STATISTICS
Operating Margin
Unaudited. Differences may result due to rounding.
18 / Q1 FY11 Stat Book
FY 2011
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FedEx Ground Segment
Annual Shipment Statistics
FY 2008 – FY 2011
FedEx Ground
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
FY 2008
FY 2009
FY 2010
858,101
3,365
$ 7.48
864,660
3,404
$ 7.70
898,464
3,523
$ 7.73
Q1 YTD
FY 2011
229,683
3,534
$ 7.99
Average Daily YOY Volume Growth Rate
7.6%
1.2%
3.5%
OPERATING WEEKDAYS
255
254
255
65
156,958
618
$ 2.09
208,315
827
$ 1.81
309,282
1,222
$ 1.56
72,570
1,100
$ 1.68
FedEx SmartPost
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield (Revenue Per Package)
6.7%
Average Daily YOY Volume Growth Rate
3.2%
33.8%
47.8%
9.0%
OPERATING WEEKDAYS
254
252
253
66
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
19
FedEx Ground Segment
Quarterly Shipment Statistics
FY 2008 – FY 2012
FY 2008
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
208,715
3,211
$ 7.41
Avg. Daily YOY Pkg. Growth Rate
217,035
3,445
$ 7.50
211,527
3,305
$ 7.74
4.0%
65
63
63
64
64
63
63
64
34,775
535
$ 2.01
43,008
672
$ 2.12
43,127
707
$ 2.11
36,029
563
$ 2.11
37,387
584
$ 2.14
48,982
777
$ 2.07
62,189
1,020
$ 1.67
59,756
934
$ 1.54
2.3%
9.3%
65
64
61
(3.5%)
64
215,200
3,311
$ 7.60
Avg. Daily YOY Pkg. Growth Rate
228,524
3,516
$ 8.04
229,683
3,534
$ 7.99
3.7%
4.6%
6.6%
6.7%
65
63
62
65
65
65,554
1,009
$ 1.41
79,676
1,265
$ 1.57
89,312
1,489
$ 1.59
74,740
1,150
$ 1.63
72,570
1,100
$ 1.68
(0.8%)
72.8%
65
62.8%
63
46.0%
60
23.1%
65
FY 2012
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
OPERATING WEEKDAYS
65
63
63
65
FedEx SmartPost
OPERATING WEEKDAYS
65
63
63
65
Unaudited. Differences may result due to rounding.
15.6%
63
44.3%
61
(0.2%)
65.8%
64
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
227,797
3,674
$ 7.75
OPERATING WEEKDAYS
20 / Q1 FY11 Stat Book
64
226,943
3,602
$ 7.54
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
9.2%
1.9%
211,003
3,297
$ 7.63
5.7%
3.7%
(0.9%)
221,169
3,511
$ 7.62
7.1%
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Avg. Daily YOY Pkg. Growth Rate
218,812
3,473
$ 7.70
8.1%
OPERATING WEEKDAYS
FedEx Ground
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
213,676
3,339
$ 7.86
9.7%
OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Avg. Daily Package Vol. (000s)
Yield (Revenue Per Package)
220,815
3,505
$ 7.27
FY 2009
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
63
62
65
63
62
65
9.0%
66
FedEx Freight Segment
Annual Consolidated Statements of Income
FY 2008 – FY 2011
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 charges2
Intercompany charges1
Other
Operating Income (Loss)
FY 2008
FY 2009
FY 2010
Q1 YTD
FY 2011
$ 4,934
$ 4,415
$ 4,321
$ 1,258
2,381
582
119
227
608
175
–
81
432
4,605
2,247
540
139
224
520
153
100
109
427
4,459
2,128
690
116
198
445
148
18
351
380
4,474
600
204
34
48
131
46
–
109
102
1,274
$ 329
($44)
($153)
($16)
6.7%
(1.0%)
(3.5%)
(1.3%)
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. The costs of the functions are allocated to the FedEx Freight
segment through intercompany charges.
2 - 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.
Q1 FY11 Stat Book /
21
FedEx Freight Segment
Quarterly Consolidated Statements of Income
FY 2008 – FY 2009
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 charges1
Intercompany charges
Other
Operating Income (Loss)
FY 2008
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
FY 2009
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
$ 1,233
$ 1,236
$ 1,155
$ 1,310
$ 1,353
$ 1,200
$ 914
$ 948
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
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
$ 105
$ 79
$ 46
$ 99
$ 89
$ 32
($59)
($106)
8.5%
6.4%
4.0%
7.6%
6.6%
2.7%
(6.5%)
(11.2%)
SELECTED STATISTICS
Operating Margin
1 - 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.
22 / Q1 FY11 Stat Book
FedEx Freight Segment
Quarterly Consolidated Statements of Income
FY 2010 – FY 2011
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 2010
SECOND
THIRD
QUARTER
QUARTER
FOURTH
QUARTER
FIRST
QUARTER
$ 982
$ 1,068
$ 1,040
$ 1,231
$ 1,258
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
576
213
31
48
135
43
18
102
101
1,267
600
204
34
48
131
46
–
109
102
1,274
$2
($12)
($107)
($36)
($16)
0.2%
(1.1%)
(10.3%)
(2.9%)
(1.3%)
FY 2011
SECOND
THIRD
QUARTER
QUARTER
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. The costs of the functions are allocated to the FedEx Freight segment through intercompany charges.
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
23
FedEx Freight
Annual LTL Shipment Statistics
FY 2008 – FY 2011
Shipments Per Day
Weight Per Shipment
LTL Yield (Revenue Per Hundredweight)
FY 2008
FY 2009
FY 2010
Q1 YTD
FY 2011
79,706
74,389
82,290
91,791
1,136
1,126
1,134
1,134
$ 19.65
$ 19.07
$ 17.07
$ 17.32
10.6%
28.6%
253
65
Avg. Daily Shipment Growth Rate
1.9%
OPERATING WEEKDAYS
253
Unaudited. Differences may result due to rounding.
24 / Q1 FY11 Stat Book
(6.7%)
252
FedEx Freight
Quarterly LTL Shipment Statistics
FY 2008 – FY 2012
FY 2008
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Weight Per Shipment
LTL Yield (Revenue Per Hundredweight)
Avg. Daily Shipment Growth Rate
OPERATING WEEKDAYS
79,331
81,928
75,468
82,038
82,735
80,305
65,991
68,448
1,131
1,129
1,143
1,142
1,140
1,122
1,121
1,119
$ 19.39
$ 19.56
$ 19.63
$ 19.98
$ 20.44
$ 19.44
$ 18.21
$ 17.78
2.9%
4.3%
(12.6%)
(16.6%)
64
64
13.9%
65
(5.8%)
62
(2.1%)
62
FY 2010
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
FY 2009
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
82,928
83,426
91,523
91,791
1,109
1,128
1,133
1,160
1,134
LTL Yield (Revenue Per Hundredweight)
$ 17.87
$ 17.09
$ 16.82
$ 16.69
$ 17.32
Avg. Daily Shipment Growth Rate
(13.7%)
3.3%
26.4%
33.7%
28.6%
62
61
65
65
OPERATING WEEKDAYS
65
62
62
64
FY 2011
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
71,384
Weight Per Shipment
(2.0%)
62
62
65
FY 2012
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
OPERATING WEEKDAYS
65
62
63
65
Unaudited. Differences may result due to rounding.
Q1 FY11 Stat Book /
25