Historical Statistics

FedEx Corporation
Financial and Operating Statistics
FY 1998 FY 2007

This report is a statistical supplement to FedExs financial reports and should be

used in conjunction with our quarterly statistical book for more recent information.
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 CORP.
OVERVIEW
CONDENSED CONSOLIDATED BALANCE SHEETS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY1998 FY1999
FY2000 FY2001
FY2002 FY2003
FY2004 FY2005
FY2006 FY2007
CAPITAL EXPENDITURES

1
2
3
4
5
6
7
8
9
10

FEDEX EXPRESS SEGMENT

ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY1998 FY1999
FY2000 FY2001
FY2002 FY2003
FY2004 FY2005
FY2006 FY2007
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS
FY1998 FY1999
FY2000 FY2001
FY2002 FY2003
FY2004 FY2005
FY2006 FY2007
AIRCRAFT AND VEHICLE FLEET STATISTICS
JET FUEL STATISTICS

11
12
13
14
15
16
17
18
19
20
21
22
23
24

FEDEX GROUND SEGMENT

ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2001 FY2002
FY2003 FY2004
FY2005 FY2006
FY2007
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS

25
26
27
28
29
30
31

FEDEX FREIGHT SEGMENT

ANNUAL CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY CONSOLIDATED STATEMENTS OF INCOME
FY2001 FY2002
FY2003 FY2004
FY2005 FY2006
FY2007
ANNUAL SHIPMENT STATISTICS
QUARTERLY SHIPMENT STATISTICS

32
33
34
35
36
37
38

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 $34 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 275,000 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 industrys 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
worlds gross domestic product within one to three business days. Unmatched air
route authorities and transportation infrastructure make FedEx Express the worlds
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 Supply Chain Services 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., Canada and Puerto Rico. FedEx Home Delivery, the
industrys 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 low-weight, less time-sensitive business-toconsumer packages using the U.S. Postal Service for final delivery to residences.
FedEx Freight, together with FedEx National LTL, is a leading regional and longhaul 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 Americas 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 FedEx Express, FedEx Ground (including FedEx SmartPost), the FedEx Freight
LTL Group and FedEx Office U.S. customers; FedEx Supply Chain Services, which
provides a range of logistics services to our customers; and FedEx Office, which
provides retail access to our customers for our package transportation businesses
and an array of document and business services. Effective September 1, 2009,
FedEx Supply Chain Services was realigned to become part of the FedEx Express
reporting segment.

FedEx Historical Stat Book /

FedEx Corp. Condensed Consolidated Balance Sheets

FY 1998 FY 2007
May 31
In millions (except share data)
.

1
FY 2003 FY 2004 FY 2005

FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2006

FY 2007

$ 229

$ 325

$ 68

$ 121

$ 331

$ 538

$ 1,046

$ 1,039

$ 1,937

$ 1,569

1,943
365
233
110
2,651

2,153
292
291
80
2,816

2,547
255
318
97
3,217

2,506
269
488
117
3,380

2,491
251
469
123
3,334

2,627
228
416
132
3,403

3,027
249
489
159
3,924

3,297
250
510
173
4,230

3,516
308
539
164
4,527

3,942
338
536
244
5,060

2,880

3,141

3,285

3,501

3,665

3,941

4,970

5,269

6,464

6,629

4,057
3,425
2,163
2,819
12,464
6,529

4,557
3,859
2,363
2,941
13,720
7,161

4,960
4,204
2,417
3,161
14,742
7,659

5,313
4,621
2,637
3,841
16,412
8,312

5,843
4,866
2,816
4,051
17,576
9,274

6,624
5,013
3,180
4,200
19,017
10,317

7,001
5,296
3,537
4,477
20,311
11,274

7,610
5,360
3,893
5,154
22,017
12,374

8,611
5,761
4,331
5,371
24,074
13,304

9,593
3,889
4,685
8,923
27,090
14,454

5,935

6,559

7,083

8,100

8,302

8,700

9,037

9,643

10,770

12,636

356
515

344
604

501
658

1,052
739

1,063
782

1,063
1,681

2,802
2,325

2,835
2,657

2,825
2,631

3,497
1,238

ASSETS
Current Assets:
Cash and cash equivalents
Other current assets:
Receivables, less allowances
Spare parts, supplies and fuel, less allowances
Deferred income taxes
Prepaid expenses and other
Total other current assets
Total current assets
Property and Equipment, at Cost:
Aircraft and related equipment
Package handling and GSE and vehicles
Computer and electronic equipment
Other
Less accumulated depreciation and amort.
Net property and equipment
Other Long-Term Assets:
Goodwill
Other assets
Total other long-term assets

871

948

1,159

1,791

1,845

2,744

5,127

5,492

5,456

4,735

$9,686

$10,648

$11,527

$13,392

$13,812

$15,385

$19,134

$20,404

$22,690

$24,000

$ 308

$ 750

$ 369

$ 850

$ 639

LIABILITIES AND STOCKHOLDERS' INVESTMENT

Current Liabilities:
Current portion of long-term debt
Other current liabilities:
Accrued salaries and employee benefits
Accounts payable
Accrued expenses
Total other current liabilities
Total current liabilities
Long-Term Debt, Less Current Portion
Deferred Income Taxes
Other Long-Term Liabilities

258

$ 15

$ 221

612
1,145
789
2,546

741
1,134
895
2,770

755
1,121
1,008
2,884

700
1,256
1,073
3,029

739
1,133
975
2,847

724
1,168
1,135
3,027

1,062
1,615
1,380
4,057

1,275
1,739
1,351
4,365

1,325
1,908
1,390
4,623

1,354
2,016
1,419
4,789

2,804

2,785

2,891

3,250

2,853

3,335

4,807

4,734

5,473

5,428

1,385

1,360

1,776

1,900

1,800

1,709

2,837

2,427

1,592

2,007

274

293

345

508

599

882

1,106

1,206

1,367

897

1,262

1,547

1,730

1,834

2,015

2,171

2,348

2,449

2,747

3,012

15
993
2,999
(27)
3,980
19

30
1,061
3,616
(25)
4,682
19

30
1,079
4,295
(36)
5,368
583

30
1,120
4,880
(56)
5,974
74

30
1,144
5,465
(53)
6,586
41

30
1,088
6,250
(30)
7,338
50

30
1,079
7,001
(46)
8,064
28

30
1,213
8,363
(17)
9,589
1

31
1,438
10,068
(24)
11,513
2

31
1,689
11,970
(1,030)
12,660
4

COMMON STOCKHOLDERS' INVESTMENT:

Common stock $0.10 par value;
800 million shares authorized
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Less treasury stock, at cost, and deferred comp.
Total common stockholders' investment

3,961

4,663

4,785

5,900

6,545

7,288

8,036

9,588

11,511

12,656

$9,686

$10,648

$11,527

$13,392

$13,812

$15,385

$19,134

$20,404

$22,690

$24,000

1 - Financial information for FedEx Office has been included from February 12, 2004.
Differences may result due to rounding.

2 / FedEx Historical Stat Book

FedEx Corp. Condensed Consolidated Statements of Cash Flows

FY 1998 FY 2007
Years ended May 31
In millions

FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

$ 498

$ 631

$ 688

$ 584

$ 710

$ 830

$ 838

964
95
48

1,035
19
87

1,155
48
(266)

1,276
216
(32)

1,364
209
(55)

1,351
454
(764)

1,375
141
666

1,462
209
(3)

79
1,548
379
(136)

1,742
246
(447)

1,605

1,772

1,625

2,044

2,228

1,871

3,020

3,117

3,676

3,557

(1,880)
323
107

162
(1,288)

(1,770)
81
67

173
(1,449)

(1,627)

24
(257)
152
(1,708)

(1,893)
237

(477)
20
(2,113)

(1,615)

(35)
38
(1,612)

(1,511)

21
(1,490)

(1,271)

(2,410)
19
(3,662)

(2,236)

(122)
10
(2,348)

(2,518)

64
(2,454)

(2,882)

(1,310)
68
(4,124)

Financing Activities:
Principal payments on debt
Proceeds from debt issuances
Proceeds from stock issuances
Excess tax benefits on the exercise of stock option
Dividends paid
Purchases of treasury stock
Other, net

(534)
267
34

(8)
(7)
1

(269)

50

(8)
(1)

(115)
518
16

(607)
14

(650)
744
29

(1)

(320)

88

(177)
3

(10)

81

(60)
(186)
1

(319)
1,599
115

(66)
(179)

(791)

99

(84)

(369)

144

(97)

(2)

(906)
1,054
115
45
(110)

(5)

Net cash (used in) provided by financing activities

(247)

(228)

(174)

122

(406)

(174)

1,150

(776)

(324)

193

Operating Activities:
Income from continuing operations
Noncash charges:
Lease accounting charge
Depreciation and amortization
Other, net
Changes in operating assets and liabilities, net
Net cash provided by operating activities
Investing Activities:
2
Capital expenditures
Proceeds from sale-leaseback transactions
Reimbursements of A300 and MD11 deposits
Business acquisitions, net of cash acquired
Proceeds from asset dispositions and other
Net cash used in investing activities

FY 2005

FY 2006

FY 2007

$1,449

$1,806

$2,016

Effect of exchange rate changes on cash

Cash provided by (used in) continuing operations
Cash used in discontinued operations
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

6
70
(2)
161
$ 229

96

229
$ 325

(257)

325
$ 68

53

68
$ 121

210

121
$ 331

207

331
$ 538

508

538
$1,046

(7)

1,046
$1,039

898

1,039
$1,937

(368)

1,937
$1,569

1 - Financial information for FedEx Office has been included from February 12, 2004.
2 - Excludes equivalent capital of $459 million, $561 million and $365 million in 1998, 1999 and 2000, respectively.
Differences may result due to rounding.

FedEx Historical Stat Book / 3

FedEx Corp. Annual Consolidated Statements of Income

FY 1998 FY 2007
Years ended May 31
In millions, except EPS and FTEs
FY 1998
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment1
FedEx Services segment2
Other & eliminations
Total Revenue
Operating Expenses:
Salaries and employee benefits 3
Purchased transportation 4
Rentals and landing fees 5
Depreciation and amortization
Fuel4
Maintenance and repairs
Airline stabilization
Business realignment costs 6
Other7
Total Operating Expenses
Operating Income (Loss):
FedEx Express segment3,5,6,7
FedEx Ground segment 4,7
FedEx Freight segment1
FedEx Services segment2
Other & eliminations
Total Operating Income
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007

$13,255
2,000

618
15,873

$13,979
2,162

632
16,773

$15,096
2,345

816
18,257

$15,645
2,565
993

426
19,629

$15,438
2,918
2,253

(2)
20,607

$16,467
3,581
2,443

(4)
22,487

$17,497
3,910
2,689
620
(6)
24,710

$19,485
4,680
3,217
2,066
(85)
29,363

$21,446
5,306
3,645
2,088
(191)
32,294

$22,681
6,043
4,586
2,137
(233)
35,214

6,647
1,482
1,304
964
727
874

2,864
14,862

7,088
1,538
1,396
1,035
605
959

2,989
15,610

7,598
1,675
1,539
1,155
919
1,101

3,049
17,036

8,263
1,713
1,650
1,276
1,163
1,170

3,323
18,558

9,099
1,825
1,780
1,364
1,146
1,240
(119)

2,951
19,286

9,778
2,155
1,803
1,351
1,396
1,398

3,135
21,016

10,728
2,407
1,918
1,375
1,531
1,523

435
3,353
23,270

11,963
2,935
2,299
1,462
2,317
1,695
48

4,173
26,892

12,571
3,251
2,390
1,550
3,256
1,777

4,485
29,280

13,740
3,977
2,343
1,742
3,429
1,952

4,755
31,938

837
176

(2)
1,011

871
213

79
1,163

899
203

119
1,221

836
113
61

61
1,071

801
337
185

(2)
1,321

783
494
193

1
1,471

665
531
244

1,440

1,493
624
354

2,471

1,813
716
485

3,014

1,991
822
463

3,276

(124)
13
(111)

(98)
(4)
(102)

(106)
23
(83)

(144)

(144)

(139)
(22)
(161)

(118)
(15)
(133)

(116)
(5)
(121)

(139)
(19)
(158)

(104)
(11)
(115)

(53)
(8)
(61)

Income Before Income Taxes

900

1,061

1,138

927

1,160

1,338

1,319

2,313

2,899

3,215

Provision for Income Taxes 8

402

430

450

343

435

508

481

864

1,093

1,199

Income from Continuing Operations

498

631

688

584

725

830

838

1,449

1,806

2,016

Income from Discontinued Operations,

Net of Income Taxes

Cumulative Effect of Change in Accounting

(15)

Net Income

$ 503

$ 631

$ 688

$ 584

$ 710

$ 830

$ 838

$1,449

$1,806

$2,016

Basic Earnings Per Share:

Continuing operations
Discontinued operations
Cumulative Effect of Accounting Change
Net Basic Earnings Per Share

$1.70
0.02

$1.72

$2.13

$2.13

$2.36

$2.36

$2.02

$2.02

$2.43

(0.05)
$2.38

$2.79

$2.79

$2.80

$2.80

$4.81

$4.81

$5.94

$5.94

$6.57

$6.57

Diluted Earnings Per Share:

Continuing operations
Discontinued operations
Cumulative Effect of Accounting Change
Diluted Earnings Per Share

$1.67
0.02

$1.69

$2.10

$2.10

$2.32

$2.32

$1.99

$1.99

$2.39

(0.05)
$2.34

$2.74

$2.74

$2.76

$2.76

$4.72

$4.72

$5.83

$5.83

$6.48

$6.48

298

301

296

293

303

303

304

307

310

311

6.4%
5.7%

6.9%
6.3%

6.7%
6.2%

5.5%
4.7%

6.4%
5.6%

6.5%
5.9%

5.8%
5.3%

8.4%
7.9%

9.3%
9.0%

9.3%
9.1%

5.4%
13.5%
150,823

6.2%
14.6%
156,386

6.2%
14.6%
163,324

4.7%
10.9%
176,960

5.2%
11.4%
184,953

5.7%
12.0%
190,918

4.9%
10.9%
195,838

7.3%
16.4%
215,838

8.4%
17.1%
221,677

8.6%
16.7%
241,903

Avg Common and Common Equivalent Shares

SELECTED STATISTICS
Operating Margin
Pretax Margin
Return on Assets 9
Return on Equity9
FedEx Corp. Average FTEs

1 - The FedEx Freight segment includes the operations of FedEx Freight West from December 1, 2000, FedEx Freight East from January 1, 2001 and FedEx National LTL from September 3, 2006. Prior to December 1, 2000, FedEx Freight
West results are included in Other.
2 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY07 amounts have been revised to conform to our current segment presentation.
3 - Results for FY07 include a $143 million charge for signing bonuses and other upfront compensation associated with the new pilot labor contract at FedEx Express.
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. FY07 amounts have been revised to conform to the current
presentation.
5 - Results for FY06 include a $79 million charge to adjust the accounting for certain facility leases, predominantly at FedEx Express.
6 - FY04 includes $435 million ($270 million, net of tax, or $0.89 per diluted share) of business realignment costs.
7 - FY01 includes a $124 million charge associated with curtailing certain aircraft modification and development programs and reorganizing operations at FedEx Supply Chain Services. Of the total, $102 million was incurred at FedEx
Express and $22 million was incurred at FedEx Supply Chain Services.
8 - FY04 includes a $37 million, net of tax, or $0.12 per diluted share benefit related to a favorable ruling on a tax case and the reduction of the company's effective tax rate.
FY05 includes a $12 million or $0.04 per diluted share benefit from an income tax adjustment.
9 - Return on Assets and Return on Equity for the current year-to-date are calculated on a rolling four quarter basis.
Differences may result due to rounding. Certain prior period amounts have been reclassified to conform to current period's presentation.

4 / FedEx Historical Stat Book

FedEx Corp. Quarterly Consolidated Statements of Income

FY 1998 FY 1999
Years ended May 31
In millions, except EPS and FTEs

FIRST
QUARTER
Revenue:
FedEx Express segment
1
FedEx Ground segment
Other & eliminations
Total Revenue

FY 1998
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 1999
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

$3,297
419
150
3,866

$3,299
487
156
3,942

$3,233
583
171
3,987

$3,426
511
141
4,078

$3,417
509
157
4,083

$3,482
555
172
4,209

$3,431
525
142
4,098

$3,649
573
161
4,383

1,637
329
292
230
179
213
683
3,563

1,615
368
336
237
186
210
701
3,653

1,688
415
347
250
191
217
783
3,891

1,707
370
329
247
171
234
697
3,755

1,748
371
331
250
149
248
700
3,797

1,757
397
348
252
154
236
728
3,872

1,762
376
364
264
146
238
797
3,947

1,821
394
353
269
156
237
764
3,994

Operating Income (Loss):

FedEx Express segment
FedEx Ground segment
2
Other & eliminations
Total Operating Income

264
35
4
303

214
57
18
289

98
37
(39)
96

261
47
15
323

219
43
22
284

251
62
24
337

95
43
14
152

306
65
19
390

Other Income (Expense):

Interest, net
3
Other, net
Total Other Income (Expense)

(29)
10
(19)

(32)

(32)

(34)
2
(32)

(29)
1
(28)

(25)
(4)
(29)

(25)
1
(24)

(25)
(6)
(31)

(23)
5
(18)

Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
2,3
Other
Total Operating Expenses

Income Before Income Taxes

284

257

64

295

255

313

121

372

Provision for Income Taxes4,5

120

107

51

124

106

130

43

151

Income from Continuing Operations

164

150

13

171

149

183

78

221

Income from Discontinued Operations,

Net of Income Taxes

Net Income

$ 164

$ 150

$ 18

$ 171

$ 149

$ 183

$ 78

$ 221

Basic Earnings Per Share:

Continuing operations
Discontinued operations
Net Basic Earnings Per Share

$0.56

$0.56

$0.51

$0.51

$0.04
0.02
$0.06

$0.58

$0.58

$0.51

$0.51

$0.62

$0.62

$0.26

$0.26

$0.74

$0.74

293

293

293

295

295

295

296

298

$0.55

$0.55

$0.50

$0.50

$0.04
0.02
$0.06

$0.57

$0.57

$0.50

$0.50

$0.61

$0.61

$0.26

$0.26

$0.73

$0.73

297

299

298

299

299

298

302

304

7.8%
7.3%

7.3%
6.5%

2.4%
1.6%

7.9%
7.2%

7.0%
6.2%

8.0%
7.4%

3.7%
3.0%

8.9%
8.5%

147,745

150,888

152,239

152,580

153,369

156,701

158,155

157,406

Weighted Avg. Common Shares

Diluted Earnings Per Share:
Continuing operations
Discontinued operations
Net Diluted Earnings Per Share
Avg Common and Common Equiv. Shares
SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs

1 - Included in Q3 FY99 FedEx Ground revenue was approximately $7 million resulting from a one-time change in revenue recognition for in-transit shipments.
2 - FedEx Freight West Q3 FY98 results include a one-time $16 million gain on the sale of certain assets.
3 - FedEx Express incurred approximately $81 million of operating expenses and $10 million of bank fees and negative arbitrage on borrowings in Q3 FY99 as part of the contingency plans in connection with
the FedEx pilot negotiations.
4 - The FY98 rates of 79.8% and 45.9% for the third quarter and YTD periods reflect certain one-time Caliber transactions which were non-deductible for federal and state income tax purposes.
5 - FY99 Q3 and YTD effective tax rates are lower than the comparable periods, primarily due to the combination of stronger than expected YTD results from international operations and lower worldwide
income taxes on foreign earnings. This change increased Q3 and Q4 FY99 earnings per share by $0.02 and $0.01, respectively, and Q3 and Q4 FY99 YTD by $0.02 and $0.04, respectively.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

FedEx Corp. Quarterly Consolidated Statements of Income

FY 2000 FY 2001
Years ended May 31
In millions, except EPS and FTEs

FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
1
FedEx Freight segment
1
Other & eliminations
Total Revenue

FY 2000
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2001
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

$3,587
552

181
4,320

$3,736
600

234
4,570

$3,758
563

197
4,518

$4,015
630

204
4,849

$3,944
623

212
4,779

$4,010
670

215
4,895

$3,811
613
415

4,839

$3,880
659
578
(1)
5,116

1,831
390
367
277
185
255
731
4,036

1,874
438
393
285
225
278
772
4,265

1,926
417
387
294
257
271
760
4,312

1,967
430
392
299
252
297
786
4,423

1,995
435
390
303
250
310
785
4,468

2,000
439
407
310
313
278
803
4,550

2,098
412
418
326
310
270
814
4,648

2,170
427
435
337
290
312
921
4,892

Operating Income:
3
FedEx Express segment
3
FedEx Ground segment
FedEx Freight segment1
Other & eliminations 1
Total Operating Income

209
47

28
284

212
59

34
305

143
35

28
206

335
62

29
426

257
34

20
311

267
48

30
345

156
8
22
5
191

156
23
39
6
224

Other Income (Expense):

Interest, net
Other, net4
Total Other Income (Expense)

(21)

(21)

(27)
5
(22)

(30)
11
(19)

(28)
7
(21)

(33)
(4)
(37)

(35)
5
(30)

(34)
1
(33)

(42)
(2)
(44)
180

Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
2
Fuel
Maintenance and repairs
2,3
Other
Total Operating Expenses

Income Before Income Taxes

263

283

187

405

274

315

158

Provision for Income Taxes

104

112

74

160

105

121

50

67

Net Income

$ 159

$ 171

$ 113

$ 245

$ 169

$ 194

$ 108

$ 113

Basic Earnings Per Share

$0.53

$0.58

$0.39

$0.86

$0.59

$0.68

$0.38

$0.38

298

293

289

286

285

285

288

297

$0.52

$0.57

$0.39

$0.85

$0.58

$0.67

$0.37

$0.38

304

298

294

290

289

290

293

302

6.6%
6.1%

6.7%
6.2%

4.6%
4.1%

8.8%
8.4%

6.5%
5.7%

7.0%
6.4%

3.9%
3.3%

4.4%
3.5%

157,781

162,738

164,902

166,504

168,589

171,924

182,263

185,132

Weighted Avg. Common Shares

Diluted Earnings Per Share
Avg Common and Common Equiv. Shares

SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs

1 - The FedEx Freight segment includes the operations of FedEx Freight West from December 1, 2000 and FedEx Freight East from January 1, 2001. Prior to December 1, 2000, FedEx Freight West results
are included in 'Other & eliminations'.
2 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the FedEx Freight Segment.
3 - Q4 FY01 includes a $124 million charge associated with curtailing certain aircraft modification and development programs and reorganizing operations at FedEx Supply Chain Services. Of the total, $102
million was incurred at FedEx Express and $22 million was incurred at FedEx Supply Chain Services.
4 - FedEx Express realized a gain on the sale of secuirities in Q3 FY00, increasing EPS by $0.02, and a $12 million gain in Q4 FY00 from the insurance settlement on an MD11 aircraft destroyed in an
accident.
Unaudited. Differences may result due to rounding.

6 / FedEx Historical Stat Book

FedEx Corp. Quarterly Consolidated Statements of Income

FY 2002 FY 2003
Years ended May 31
In millions, except EPS and FTEs

FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
Other & eliminations
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel1
Maintenance and repairs
Airline stabilization compensation
Other1
Total Operating Expenses

$3,767
683
588
(1)
5,037

FY 2002
SECOND
THIRD
QUARTER QUARTER

$3,842
728
565

5,135

FY 2003
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FOURTH
QUARTER

$3,800
715
505
(1)
5,019

$4,029
792
595

5,416

$3,962
869
615
(1)
5,445

$4,128
905
634

5,667

$4,094
886
568
(3)
5,545

$4,283
921
626

5,830

2,246
442
444
341
255
306
(3)
751
4,782

2,386
474
432
345
295
330

738
5,000

2,426
518
444
339
306
371

758
5,162

2,403
549
465
338
348
354

783
5,240

2,464
535
452
334
363
344

784
5,276

2,485
553
442
340
379
329

810
5,338

2,236
445
432
336
302
312

739
4,802

2,231
464
472
342
294
292
(116)
723
4,702

Operating Income (Loss):

FedEx Express segment
FedEx Ground segment
FedEx Freight segment
Other & eliminations
Total Operating Income

120
59
55
1
235

306
81
55
(9)
433

138
69
22
8
237

237
128
53
(2)
416

128
101
54

283

230
135
62

427

130
109
28
2
269

295
149
49
(1)
492

Other Income (Expense):

Interest, net
Other, net
Total Other Income (Expense)

(37)
2
(35)

(36)
(2)
(38)

(36)
(7)
(43)

(30)
(15)
(45)

(31)
3
(28)

(28)
(4)
(32)

(29)
(3)
(32)

(30)
(11)
(41)

Income Before Income Taxes

200

395

194

371

255

395

237

451

76

150

74

135

97

150

90

171

Income Before Accounting Change

124

245

120

236

158

245

147

280

Cumulative Effect of Change in Accounting

(15)

Provision for Income Taxes

Net Income

$ 109

$ 245

$ 120

$ 236

$ 158

$ 245

$ 147

$ 280

Basic Earnings Per Share:

Income Before Accounting Change
Cumulative Effect of Accounting Change
Basic Earnings Per Share

$0.42
(0.05)
$0.37

$0.82

$0.82

$0.40

$0.40

$0.79

$0.79

$0.53

$0.53

$0.82

$0.82

$0.49

$0.49

$0.94

$0.94

Diluted Earnings Per Share:

Income Before Accounting Change
Cumulative Effect of Accounting Change
Diluted Earnings Per Share

$0.41
(0.05)
$0.36

$0.81

$0.81

$0.39

$0.39

$0.78

$0.78

$0.52

$0.52

$0.81

$0.81

$0.49

$0.49

$0.92

$0.92

302

302

304

304

302

303

303

303

4.7%
4.0%

8.4%
7.7%

4.7%
3.9%

7.7%
6.9%

5.2%
4.7%

7.5%
7.0%

4.8%
4.3%

8.4%
7.7%

183,586

185,490

184,338

186,414

190,616

192,445

191,495

189,098

$0.05

$0.05

$0.05

$0.05

Avg Common and Common Equiv. Shares

SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share

1 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the FedEx Freight Segment.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

FedEx Corp. Quarterly Consolidated Statements of Income

FY 2004 FY 2005
Years ended May 31
In millions, except EPS and FTEs

FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
1
FedEx Services segment
Other & eliminations
Total Revenue
Operating Expenses:
Salaries and employee benefits
Purchased transportation
2
Rentals and landing fees
Depreciation and amortization
Fuel2
Maintenance and repairs 2
Airline stabilization
Business realignment costs3
Other2
Total Operating Expenses
Operating Income (Loss):
FedEx Express segment3
FedEx Ground segment
FedEx Freight segment
1
FedEx Services segment
Other & eliminations
Total Operating Income
Other Income (Expense):
Interest, net
Other, net
Total Other Income (Expense)
Income Before Income Taxes
4

Provision for Income Taxes

FY 2004
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2005
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

$4,137
914
637

(1)
5,687

$4,279
978
664

(1)
5,920

$4,374
960
630
99
(1)
6,062

$4,707
1,058
758
521
(3)
7,041

$4,616
1,073
807
490
(11)
6,975

$4,834
1,174
820
525
(19)
7,334

$4,915
1,200
747
498
(21)
7,339

$5,120
1,233
843
553
(34)
7,715

2,570
555
429
334
334
364

132
769
5,487

2,559
598
447
336
352
370

283
792
5,737

2,649
602
474
340
402
380

14
829
5,690

2,950
652
568
365
443
409

6
963
6,356

2,920
681
551
360
483
428

973
6,396

2,930
747
577
363
592
422
48

1,055
6,734

3,026
748
585
368
570
413

1,077
6,787

3,087
759
586
371
672
432

1,068
6,975

23
116
61

200

(19)
135
66

1
183

218
112
37

5
372

438
167
80

685

325
151
103

579

357
141
102

600

348
150
54

552

463
182
95

740

(5)
1
(4)

(35)
(2)
(37)

(36)
(2)
(38)

(40)
(2)
(42)

(39)
(6)
(45)

(38)
(8)
(46)

(34)
(4)
(38)

(28)
(1)
(29)

146

334

643

534

554

514

711

196
68

55

127

231

204

200

197

263

Net Income

$ 128

$ 91

$ 207

$ 412

$ 330

$ 354

$ 317

$ 448

Basic Earnings Per Share

$0.43

$0.31

$0.69

$1.38

$1.10

$1.18

$1.05

$1.48

298

298

299

299

300

301

302

302

$0.42

$0.30

$0.68

$1.36

$1.08

$1.15

$1.03

$1.46

303

304

303

304

305

307

308

308

3.5%
3.4%

3.1%
2.5%

6.1%
5.5%

9.7%
9.1%

8.3%
7.7%

8.2%
7.6%

7.5%
7.0%

9.6%
9.2%

189,912

191,061

195,692

207,023

210,692

215,805

218,898

217,214

$0.05

$0.05

$0.06

$0.06

$0.07

$0.07

$0.07

$0.07

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

1 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY05 amounts have been
revised to conform to the current segment presentation.
2 - Certain prior period amounts have been reclassified to conform to the current presentation.
3 - Q1 FY04 includes $132 million ($82 million, net of tax, of $0.27 per diluted share) of business realignment costs.
Q2 FY04 includes $283 million ($175 million, net of tax, or $0.57 per diluted share) of business realignment costs.
Q3 FY04 includes $14 million ($9 million, net of tax, or $0.03 per diluted share) of business realignment costs.
Q4 FY04 includes $6 million ($4 million, net of tax, or $0.01 per diluted share) of business realignment costs.
4 - Q1 FY04 includes a $26 million, net of tax, or $0.08 per diluted share benefit related to a favorable ruling on a tax case.
Q2 FY05 includes an $11 million or $0.04 per diluted share benefit from an income tax adjustment.
Unaudited. Differences may result due to rounding.

8 / FedEx Historical Stat Book

FedEx Corp. Quarterly Consolidated Statements of Income

FY 2006 FY 2007
Years ended May 31
In millions, except EPS and FTEs

FIRST
QUARTER
Revenue:
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
1
FedEx Services segment
Other & eliminations
Total Revenue

FY 2006
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2007
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER

$5,122
1,219
892
517
(43)
7,707

$5,370
1,307
932
528
(47)
8,090

$5,340
1,363
848
501
(49)
8,003

$5,614
1,417
973
542
(52)
8,494

$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

3,062
771
665
370
728
468
1,059
7,123

3,081
812
584
386
891
445
1,101
7,300

3,162
814
577
391
774
427
1,145
7,290

3,266
854
564
403
863
437
1,180
7,567

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

Operating Income (Loss):

FedEx Express segment
FedEx Ground segment
FedEx Freight segment
1
FedEx Services segment
Other & eliminations
Total Operating Income

297
151
135

1
584

489
165
135

1
790

452
189
73

(1)
713

575
211
142

(1)
927

475
159
150

784

508
193
138

839

395
196
50

641

613
274
125

1,012

Other Income (Expense):

Interest, net
Other, net
Total Other Income (Expense)

(24)
(11)
(35)

(30)

(30)

(28)
(2)
(30)

(22)
2
(20)

(9)
(5)
(14)

(17)
1
(16)

(11)
(1)
(12)

(16)
(3)
(19)

Operating Expenses:
2
Salaries and employee benefits
3
Purchased transportation
Rentals and landing fees4
Depreciation and amortization
3
Fuel
Maintenance and repairs
Other
Total Operating Expenses

Income Before Income Taxes

549

760

683

907

770

823

629

993

Provision for Income Taxes

210

289

255

339

295

312

209

383

Net Income

$ 339

$ 471

$ 428

$ 568

$ 475

$ 511

$ 420

$ 610

Basic Earnings Per Share

$1.12

$1.55

$1.41

$1.86

$1.55

$1.67

$1.37

$1.98

Weighted Avg. Common Shares

Diluted Earnings Per Share
Avg Common and Common Equiv. Shares

303

303

305

306

306

307

307

308

$1.10

$1.53

$1.38

$1.82

$1.53

$1.64

$1.35

$1.96

308

308

310

312

310

311

311

311

7.6%
7.1%

9.8%
9.4%

8.9%
8.5%

10.9%
10.7%

9.2%
9.0%

9.4%
9.2%

7.5%
7.3%

11.1%
10.9%

217,499

221,730

223,170

223,091

229,943

243,286

244,763

248,443

$0.08

$0.08

$0.08

$0.08

$0.09

$0.09

$0.09

$0.09

SELECTED STATISTICS
Operating Margin
Pretax Margin
FedEx Corp. Average FTEs
Dividends Paid Per Common Share

1 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY06 - FY07 amounts
have been revised to conform to the current segment presentation.
2 - Results for the second quarter FY07 include a $143 million charge for signing bonuses and other upfront compensation associated with the new pilot labor contract at FedEx Express.
3 - In Q2 FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation expense. FY07 amounts
have been revised to conform to the current period presentation.
4 - Results for first quarter fiscal 2006 include a $79 million charge to adjust the accounting for certain facility leases, predominantly at FedEx Express.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

FedEx Corp. Capital Spending

FY 1998 FY 2007
Years ended May 31
In millions

By Asset Type
Aircraft and Related Equipment
Facilities and Sort Equipment
Information Technology Investments
1
Vehicles
Other Equipment1
Total On-Balance Sheet Capital
Equivalent Capital, Principally
Aircraft-Related
Total On- and Off-Balance Sheet Capital

By Segment
FedEx Express segment
FedEx Ground segment
FedEx Freight segment
2
FedEx Services Segment
Other
Total On-Balance Sheet Capital
Equivalent Capital, Principally
Aircraft-Related
Total On- and Off-Balance Sheet Capital

FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007

$1,880

$ 606
466
366

332
$1,770

$ 469
437
378

343
$1,627

$ 756
353
406

378
$1,893

$ 730
292
288

305
$1,615

$ 762
254
273
116
106
$1,511

$ 372
332
249
212
106
$1,271

$ 990
496
331
261
158
$2,236

$ 1,033
507
394
413
171
$2,518

$ 1,107
674
431
445
225
$2,882

459

561

365

$2,339

$2,331

$1,992

$1,893

$1,615

$1,511

$1,271

$2,236

$2,518

$2,882

$ 592
314
130
234
1
$1,271

$1,195
456
217
364
4
$2,236

$1,408
487
274
344
5
$2,518

$1,672
489
287
432
2
$2,882

$1,880

$1,770

$1,627

$1,893

$1,615

$ 917
252
139
202
1
$1,511

459

561

365

$2,339

$2,331

$1,992

$1,893

$1,615

$1,511

$1,271

$2,236

$2,518

$2,882

1 - Vehicles were included in the Other Equipment classification prior to FY03

2 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY07
amounts have been revised to conform to the current segment presentation
Unaudited. Differences may result due to rounding.

10 / FedEx Historical Stat Book

FedEx Express Segment Annual Consolidated Statements of Income

FY 1998 FY 2007
Years ended May 31
In millions, except FTEs

FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007

$6,811
2,179
8,990
2,627

$5,409
1,776
7,185
2,271
9,456
2,868

$5,684
1,854
7,538
2,428
9,966
3,302

$5,830
1,871
7,701
2,492
10,193
3,607

$5,338
1,755
7,093
2,383
9,476
3,475

$5,432
1,715
7,147
2,510
9,657
3,941

$5,558
1,700
7,258
2,592
9,850
4,609

$5,969
1,798
7,767
2,799
10,566
5,464

$6,422
1,974
8,396
2,853
11,249
6,139

14,459

16,030

17,388

$6,485
1,990
8,475
2,883
11,358
6,722
369
18,449

11,617

12,324

13,268

13,800

12,951

13,598

337
104
598
1,039

440
151
531
1,122

566
250
492
1,308

651
333
424
1,408

1,273
358
384
2,015

1,564
426
400
2,390

1,609
522
393
2,524

1,854
670
381
2,905

2,218
840
434
3,492

2,412
1,044
395
3,851

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 transportation5
Rentals and landing fees6
Depreciation and amortization
Fuel
Maintenance and repairs
Airline stabilization
Business realignment costs
Intercompany charges7
Other5,8
Merger expenses

Operating Income

599

533

520

437

471

479

514

550

566

381

$13,255

$13,979

$15,096

$15,645

$15,438

$16,467

$17,497

$19,485

$21,446

$22,681

5,832

1,221
845
709
808

2,989
14
12,418

6,225

1,318
912
594
888

3,171

13,108

6,654

1,431
1,001
888
1,027

3,196

14,197

6,382
584
1,424
809
1,063
971

1,317
2,259

14,809

7,001
609
1,557
818
1,231
1,087

1,328
2,053

15,684

7,403
694
1,531
810
1,343
1,193

428
1,406
2,024

16,832

7,704
843
1,608
798
2,012
1,276
48

1,430
2,273

17,992

8,033
971
1,696
805
2,786
1,344

1,496
2,502

19,633

8,234
1,098
1,610
856
2,946
1,444

2,046
2,456

20,690

837

871

899

836

801

783

665

1,493

1,813

1,991

6.3%

6.2%

6.0%

5.3%

5.2%

4.8%

3.8%

7.7%

8.5%

8.8%

119,072

123,274

127,592

125,304

122,638

123,506

121,733

123,334

124,730

124,164

6,565
564
1,531
819
1,009
983
(119)

1,331
1,954

14,637

SELECTED STATISTICS
Operating Margin
Average FTEs

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and accordingly, we have reclassified the amounts for 1998-2007 to
include these revenues within our Freight revenues.
2 - Beginning Q1 FY08, FedEx Express began disclosing International Domestic shipment revenue for FY08 and FY07. 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 and India.
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 the new pilot labor contract.
5 - Purchased transportation is included in Other through FY 2000.
6 - Fiscal 2006 results include a $75 million charge to adjust the accounting for certain facility leases.
7 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY07 amounts have been revised to conform to the
current segment presentation.
8 - FY01 includes a $102 million charge associated with curtailing certain aircraft modification and development programs.
NOTE: FY01 large element expense detail for FedEx Express is not directly comparable to prior periods due to intercompany chargebacks resulting from the creation of FedEx Services.
Differences may result due to rounding.

FedEx Historical Stat Book /

11

FedEx Express Segment Quarterly Consolidated Statements of Income

FY 1998 FY 1999
Years ended May 31
In millions, except FTEs

FIRST
QUARTER

FY 1998
SECOND
THIRD
QUARTER QUARTER

FY 1999
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FOURTH
QUARTER

$1,346
431
1,777
558
2,335
725
3,060

$1,320
432
1,752
584
2,336
692
3,028

$1,410
468
1,878
585
2,463
756
3,219

Package Revenue:
U.S. Overnight Box
U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority1
Total Package Revenue

$1,702
560
2,262
634
2,896

$1,663
518
2,181
673
2,854

$1,667
549
2,216
637
2,853

$1,779
552
2,331
684
3,015

$1,333
445
1,778
544
2,322
694
3,016

73
21
151
245

85
26
166
277

86
26
139
251

93
30
142
265

100
32
134
266

108
37
139
284

108
38
129
275

124
45
129
298

Other Revenue

156

168

129

146

135

138

128

132

Total Revenue

3,297

3,299

3,233

3,426

3,417

3,482

3,431

3,649

1,451
274
202
174
198
734

3,033

1,425
317
209
182
196
756

3,085

1,448
321
215
186
200
751
14
3,135

1,508
309
219
167
214
748

3,165

1,541
313
220
147
229
748

3,198

1,542
328
222
151
218
770

3,231

1,546
344
233
144
219
850

3,336

1,596
333
237
152
222
803

3,343

264

214

98

261

219

251

95

306

8.0%

6.5%

3.0%

7.6%

6.4%

7.2%

2.8%

8.4%

116,039

118,366

120,804

121,114

121,148

122,983

125,315

123,741

Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue

Operating Expenses:
Salaries and employee benefits
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
2,3
Other
Merger Expenses

Operating Income

SELECTED STATISTICS
Operating Margin
Average FTEs

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and accordingly, we have
reclassified the amounts for 1998-1999 to include these revenues within our Freight revenues.
2 - FedEx Express incurred approximately $81 million of operating expenses and $10 million of bank fees and negative arbitrage on borrowings in Q3 FY99 as part of the contingency plans in connection
with the FedEx pilot negotiations.
3 - Includes purchased transportation.
Unaudited. Differences may result due to rounding.

12 / FedEx Historical Stat Book

FedEx Express Segment Quarterly Consolidated Statements of Income

FY 2000 FY 2001
Years ended May 31
In millions, except FTEs

FIRST
QUARTER

FY 2000
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2001
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
Total Package Revenue

$1,380
453
1,833
559
2,392
769
3,161

$1,393
451
1,844
588
2,432
815
3,247

$1,421
454
1,875
642
2,517
822
3,339

$1,490
496
1,986
639
2,625
896
3,521

$1,479
472
1,951
618
2,569
905
3,474

$1,484
456
1,940
634
2,574
933
3,507

$1,425
451
1,876
639
2,515
861
3,376

$1,442
492
1,934
601
2,535
909
3,444

130
49
126
305

144
66
127
337

141
65
117
323

151
70
122
343

162
79
115
356

177
90
102
369

157
84
103
344

155
79
104
338

Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue
Other Revenue

121

152

96

151

114

134

91

98

Total Revenue

3,587

3,736

3,758

4,015

3,944

4,010

3,811

3,880

1,609

1,640

1,686

1,719

347
242
181
238

761
3,378

365
245
217
258

799
3,524

356
256
248
253

816
3,615

363
258
242
278

820
3,680

1,615
150
345
200
241
268
327
541
3,687

1,604
147
355
204
300
239
346
548
3,743

1,595
144
357
202
276
216
321
544
3,655

1,568
143
367
203
246
248
323
626
3,724

209

212

143

335

257

267

156

156

5.8%

5.7%

3.8%

8.3%

6.5%

6.7%

4.1%

4.0%

124,625

126,138

129,125

130,483

125,313

125,787

126,694

123,470

Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
2,3
Other

Operating Income

SELECTED STATISTICS
Operating Margin
Average FTEs

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and accordingly, we have
reclassified the amounts for 2000-2001 to include these revenues within our Freight revenues.
2 - Includes purchased transportation for FY 2000.
3 - Q4 FY01 includes a $102 million charge associated with curtailing certain aircraft modifications and development programs.
4 - FedEx Express realized a gain on the sale of securities in Q3 FY00, increasing EPS by $0.02, and a $12 million gain in Q4 FY00 from the insurance settlement on an MD11 aircraft destroyed in an
accident.
NOTE: FY01 and subsequent expense detail for FedEx Express is not directly comparable to prior periods due to intercompany chargebacks resulting from the creation of FedEx Services.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

13

FedEx Express Segment Quarterly Consolidated Statements of Income

FY 2002 FY 2003
Years ended May 31
In millions, except FTEs

FIRST
QUARTER

FY 2002
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2003
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

Package Revenue:
$1,373
465
1,838
583
2,421
874
3,295

$1,299
420
1,719
573
2,292
861
3,153

$1,299
424
1,723
618
2,341
816
3,157

$1,368
447
1,815
608
2,423
924
3,347

$1,335
427
1,762
591
2,353
930
3,283

$1,351
423
1,774
623
2,397
987
3,384

$1,355
418
1,773
666
2,439
954
3,393

$1,391
447
1,838
630
2,468
1,069
3,537

173
81
97
351

363
92
99
554

357
83
90
530

381
102
97
580

380
100
92
572

402
113
101
616

394
97
100
591

388
117
107
612

Other Revenue

121

135

113

102

107

128

110

134

Total Revenue

3,767

3,842

3,800

4,029

3,962

4,128

4,094

4,283

1,610
143
370
202
264
247

333
478
3,647

1,609
143
402
203
258
231
(116)
322
484
3,536

1,633
137
384
207
226
242
(3)
334
502
3,662

1,713
141
375
207
261
263

342
490
3,792

1,719
144
382
204
271
294

335
485
3,834

1,716
151
400
205
307
277

324
518
3,898

1,781
151
391
203
320
269

328
521
3,964

1,785
163
384
206
333
247

341
529
3,988

120

306

138

237

128

230

130

295

3.2%

8.0%

3.6%

5.9%

3.2%

5.6%

3.2%

6.9%

122,561

122,162

122,717

123,095

123,730

123,408

124,581

122,325

U.S. Overnight Box

U.S. Overnight Envelope
Total U.S. Overnight
U.S. Deferred
Total U.S. Packages
International Priority1
Total Package Revenue
Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue

Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Airline stabilization compensation
Intercompany charges
Other

Operating Income

SELECTED STATISTICS
Operating Margin
Average FTEs

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and accordingly, we have
reclassified the amounts for 2002-2003 to include these revenues within our Freight revenues.
NOTE: FY01 and subsequent expense detail for FedEx Express is not directly comparable to prior periods due to intercompany chargebacks resulting from the creation of FedEx Services.
Unaudited. Differences may result due to rounding.

14 / FedEx Historical Stat Book

FedEx Express Segment Quarterly Consolidated Statements of Income

FY 2004 FY 2005
Years ended May 31
In millions, except FTEs

FIRST
QUARTER

FY 2004
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2005
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
Total Package Revenue

$1,348
432
1,780
606
2,386
1,046
3,432

$1,347
408
1,755
626
2,381
1,129
3,510

$1,385
398
1,783
686
2,469
1,144
3,613

$1,478
461
1,939
675
2,614
1,290
3,904

$1,449
439
1,888
648
2,536
1,289
3,825

$1,471
432
1,903
682
2,585
1,361
3,946

$1,493
444
1,937
759
2,696
1,347
4,043

$1,556
483
2,039
710
2,749
1,467
4,216

365
109
105
579

401
129
98
628

419
127
97
643

424
157
94
675

421
151
90
662

471
176
91
738

474
167
94
735

488
177
106
771

Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue
Other Revenue

126

141

118

128

129

150

137

134

Total Revenue

4,137

4,279

4,374

4,707

4,616

4,834

4,915

5,120

1,834
158
370
204
293
285

132
342
496
4,114

1,806
169
384
203
310
293

279
347
507
4,298

1,855
177
388
203
356
300

12
345
515
4,151

1,908
190
389
200
384
315

5
372
506
4,269

1,889
191
383
200
422
325

347
534
4,291

1,873
206
399
199
513
322
48

350
567
4,477

1,961
216
411
199
498
307

374
601
4,567

1,981
230
415
200
579
322

359
571
4,657

23

(19)

223

438

325

357

348

463

0.6%

(0.4%)

5.1%

9.3%

7.0%

7.4%

7.1%

9.0%

122,025

120,227

121,566

122,120

125,865

123,842

Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals and landing fees
Depreciation and amortization
Fuel
Maintenance and repairs
Airline Stabilization Act charge
Business realignment costs
2
Intercompany charges
Other

Operating Income (Loss)

SELECTED STATISTICS
Operating Margin
Average FTEs

122,897

121,807

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and
accordingly, we have reclassified the amounts for 2004-2005 to include these revenues within our Freight revenues.
2 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY05
amounts have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

15

FedEx Express Segment Quarterly Consolidated Statements of Income

FY 2006 FY 2007
Years ended May 31
In millions, except FTEs

FIRST
QUARTER

FY 2006
SECOND
THIRD
QUARTER QUARTER

FY 2007
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FOURTH
QUARTER

$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

624
271
106
1,001

586
251
91
928

595
273
94
962

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

$1,560
489
2,049
687
2,736
1,459

$1,605
480
2,085
701
2,786
1,543

$1,597
486
2,083
750
2,833
1,489

$1,660
519
2,179
715
2,894
1,648

4,195

4,329

4,322

4,542

$1,654
511
2,165
705
2,870
1,665
52
4,587

505
175
105
785

565
214
117
896

574
202
107
883

574
249
105
928

607
249
104
960

Freight Revenue:
U.S.
International Priority1
International Airfreight1
Total Freight Revenue
3

Other Revenue

142

145

135

144

93

101

95

92

Total Revenue

5,122

5,370

5,340

5,614

5,640

5,693

5,523

5,825

1,971
241
483
193
628
361
345
602
4,824

1,959
236
409
203
760
339
371
605
4,882

2,019
238
408
203
666
320
380
654
4,888

2,084
256
396
206
732
324
400
641
5,039

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

298

488

452

575

475

508

395

613

5.8%

9.1%

8.5%

10.2%

8.4%

8.9%

7.2%

10.5%

125,249

123,898

125,694

124,089

121,119

121,075

124,745

129,689

Operating Expenses:
Salaries and employee benefits4
Purchased transportation
Rentals and landing fees5
Depreciation and amortization
Fuel
Maintenance and repairs
6
Intercompany charges
Other

Operating Income

SELECTED STATISTICS
Operating Margin
Average FTEs

1 - In fiscal 2007, we 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. Our revenue growth associated with these freight service offerings has been significant, and
accordingly, we have reclassified the amounts for 2006-2007 to include these revenues within our Freight revenues.
2 - Beginning Q1 FY08, FedEx Express began disclosing International Domestic shipment revenue for FY08 and FY07. 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 and India.
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 the new pilot labor contract.
5 - First quarter fiscal 2006 results include a $75 million charge to adjust the accounting for certain facility leases.
6 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY06 - FY07
amounts have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

16 / FedEx Historical Stat Book

FedEx Express Annual Shipment Statistics

FY 1998 FY 2007
FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007

1,886
872
2,758
257

1,207
751
1,958
893
2,851
278

1,249
771
2,020
916
2,936
315

1,264
757
2,021
899
2,920
343

1,170
699
1,869
868
2,737
338

1,176
679
1,855
897
2,752
366

1,179
667
1,846
925
2,771
393

1,184
680
1,864
958
2,822
433

1,203
713
1,916
901
2,817
466

3,015

3,129

3,251

3,263

3,075

3,118

3,164

3,255

3,283

1,174
706
1,880
898
2,778
487
135
3,400

3,356
265
2,770
6,391

4,332
388
2,633
7,353

4,693
613
2,420
7,726

4,337
786
2,208
7,331

7,736
901
2,082
10,719

8,969
978
2,174
12,121

8,519
1,148
2,093
11,760

8,885
1,395
1,914
12,194

9,374
1,634
2,126
13,134

9,569
1,878
1,831
13,278

$14.22
9.84
12.83
40.26

$17.51
9.24
14.34
9.93
12.96
40.22

$17.70
9.36
14.52
10.31
13.21
40.83

$18.09
9.69
14.95
10.87
13.69
41.21

$17.90
9.84
14.88
10.77
13.58
40.36

$18.18
9.95
15.17
11.02
13.82
42.38

$18.49
10.00
15.42
10.99
13.94
45.96

$19.77
10.37
16.34
11.46
14.69
49.47

$20.94
10.86
17.19
12.42
15.66
51.64

$15.17

$15.37

$15.87

$16.59

$16.52

$17.17

$17.92

$19.31

$20.77

$21.66
11.06
17.68
12.59
16.04
54.13
10.77
$21.28

$0.40
1.54
0.85
$0.64

$0.40
1.53
0.79
$0.60

$0.47
1.59
0.79
$0.66

$0.59
1.66
0.75
$0.75

$0.65
1.56
0.72
$0.74

$0.69
1.72
0.72
$0.78

$0.74
1.78
0.74
$0.84

$0.82
1.88
0.78
$0.93

$0.93
2.02
0.80
$1.04

$0.99
2.18
0.84
$1.14

3.8%
2.4%
3.4%
8.2%

3.5%
2.7%
3.2%
2.6%
3.0%
13.3%

1.2%
(1.8%)
0.0%
(1.9%)
(0.5%)
8.9%

(7.4%)
(7.7%)
(7.5%)
(3.4%)
(6.3%)
(1.5%)

0.5%
(2.9%)
(0.7%)
3.3%
0.5%
8.3%

0.3%
(1.8%)
(0.5%)
3.1%
0.7%
7.4%

0.4%
1.9%
1.0%
3.6%
1.8%
10.2%

1.6%
4.9%
2.8%
(5.9%)
(0.2%)
7.6%

3.8%

3.9%

0.4%

(5.8%)

1.4%

1.5%

2.9%

0.9%

(2.4%)
(1.0%)
(1.9%)
(0.3%)
(1.4%)
4.5%
N/A
3.6%

5.5%
4.2%
5.2%
9.2%

5.1%
4.4%
4.9%
6.9%
5.4%
15.1%

2.6%
0.9%
2.2%
2.6%
2.3%
9.2%

(8.4%)
(6.2%)
(7.9%)
(4.4%)
(7.0%)
(3.7%)

1.8%
(2.3%)
0.8%
5.3%
1.9%
13.4%

2.3%
(0.9%)
1.6%
3.3%
2.0%
17.0%

7.4%
5.8%
7.0%
8.0%
7.3%
18.5%

7.6%
9.8%
8.1%
1.9%
6.5%
12.4%

(6.2%)

8.5%

AVG DAILY VOLUME / POUNDS

Average Daily Package Volume (000s):
U.S. Overnight Box (FO, EHB, POB, SOB)
U.S. Overnight Envelope (EHE, POE, SOE)
Total U.S. Overnight (FO, EH, 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, EHB, POB, SOB)
U.S. Overnight Envelope (EHE, POE, SOE)
Total U.S. Overnight (FO, EH, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Avg Daily Packages
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 (FO, EHB, POB, SOB)
U.S. Overnight Envelope (EHE, POE, SOE)
Total U.S. Overnight (FO, EH, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IPF,IEF) 1
International Domestic2
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box (FO, EHB, POB, SOB)
U.S. Overnight Envelope (EHE, POE, SOE)
Total U.S. Overnight (FO, EH, PO, SO)
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IPF,IEF) 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%

6.1%

7.7%

4.0%

5.0%

6.3%

10.9%

7.4

7.4

7.5

7.3

6.8

6.8

7.1

7.1

7.1

7.3

$2.06

$2.07

$2.11

$2.28

$2.42

$2.53

$2.52

$2.71

$2.93

$2.92

254

256

257

255

255

254

255

255

255

255

1 - In fiscal 2007, we reclassified certain revenues previously included within International Priority package revenues in the table above that were international priority freight shipments to International Priority Freight
statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been significant, and accordingly, we have reclassified the amounts for
1998-2007 to include these revenues within our Freight revenues.
2 - Beginning Q1 FY08, FedEx Express began disclosing International Domestic shipments for FY08 and FY07. 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 and India.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

17

FedEx Express Quarterly Shipment Statistics

FY 1998 FY 1999
FY 1998
FY 1999
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages

1,858
826
2,684
244
2,928

1,868
854
2,722
262
2,984

1,877
933
2,810
253
3,063

1,941
873
2,814
269
3,083

1,150
730
1,880
835
2,715
262
2,977

1,211
743
1,954
895
2,849
282
3,131

1,236
759
1,995
966
2,961
276
3,237

1,232
771
2,003
884
2,887
294
3,181

2,705
199
2,652
5,556

3,410
285
2,984
6,679

3,495
272
2,690
6,458

3,815
303
2,756
6,874

3,930
317
2,621
6,867

4,480
388
2,719
7,588

4,391
416
2,645
7,452

4,541
432
2,551
7,524

$17.64
9.22
14.44
9.89
13.01
40.84
$15.51

$17.23
9.17
14.16
9.76
12.73
40.46
$15.08

$17.60
9.33
14.42
10.19
13.12
39.56
$15.56

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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages

$14.31
10.59
13.16
40.55
$15.44

$14.13
9.63
12.72
40.76
$15.17

$14.10
9.33
12.51
40.01
$14.78

$14.32
9.89
12.95
39.73
$15.28

$17.56
9.25
14.33
9.88
12.96
40.08
$15.34

$0.42
1.66
0.89
$0.69

$0.40
1.47
0.88
$0.66

$0.39
1.52
0.82
$0.62

$0.38
1.55
0.80
$0.60

$0.39
1.52
0.77
$0.59

$0.38
1.51
0.81
$0.59

$0.40
1.46
0.79
$0.59

$0.42
1.60
0.78
$0.61

1.2%
1.0%
1.2%
7.4%
1.7%

4.6%
4.7%
4.6%
7.6%
4.9%

6.3%
3.5%
5.4%
9.1%
5.7%

3.2%
1.2%
2.6%
9.3%
3.2%

4.5%
(2.8%)
2.7%
9.5%
4.1%

6.9%
7.6%
7.0%
7.7%
7.2%

5.1%
6.5%
5.5%
8.6%
6.1%

5.6%
5.9%
5.6%
10.5%
6.8%

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 (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS

7.3

7.5

7.3

7.3

7.4

7.6

7.3

7.4

$2.12

$2.02

$2.02

$2.10

$2.06

$2.03

$2.06

$2.11

64

63

63

64

66

63

62

65

1 - In fiscal 2007, we reclassified certain statistics previously included within International Priority package statistics in the table above that were international priority freight shipments to
International Priority Freight statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been
significant, and accordingly, we have reclassified the amounts for 1998-1999 to include these revenues within our Freight revenues.

Unaudited. Differences may result due to rounding.

18 / FedEx Historical Stat Book

FedEx Express Quarterly Shipment Statistics

FY 2000 FY 2001
FY 2000
FY 2001
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages
.

1,205
748
1,953
839
2,792
294
3,086

1,241
770
2,011
913
2,924
319
3,243

1,277
765
2,042
991
3,033
314
3,347

1,275
800
2,075
921
2,996
333
3,329

1,254
758
2,012
876
2,888
335
3,223

1,292
757
2,049
925
2,974
356
3,330

1,288
749
2,037
962
2,999
337
3,336

1,222
764
1,986
837
2,823
344
3,167

4,555
462
2,505
7,522

5,072
634
2,574
8,280

4,607
650
2,266
7,523

4,547
708
2,337
7,592

4,369
721
2,312
7,402

4,749
876
2,233
7,858

4,204
809
2,164
7,177

4,032
741
2,121
6,894

$17.62
9.31
14.44
10.25
13.18
40.33
$15.75

$17.82
9.29
14.56
10.22
13.20
40.58
$15.88

$17.38
9.29
14.35
10.12
12.97
40.98
$15.58

$17.98
9.54
14.73
10.67
13.48
41.37
$16.26

$18.15
9.59
14.93
10.85
13.69
41.47
$16.58

$18.23
9.56
15.03
10.88
13.74
41.60
$16.72

$17.84
9.70
14.85
10.71
13.52
41.17
$16.32

$18.15
9.91
14.98
11.06
13.82
40.61
$16.73

$0.44
1.62
0.78
$0.62

$0.45
1.66
0.78
$0.65

$0.48
1.56
0.81
$0.67

$0.51
1.53
0.80
$0.70

$0.57
1.69
0.76
$0.74

$0.59
1.63
0.73
$0.75

$0.60
1.68
0.77
$0.78

$0.59
1.65
0.75
$0.75

4.7%
2.5%
3.9%
0.5%
2.8%
12.2%
3.7%

2.5%
3.6%
2.9%
2.0%
2.6%
13.1%
3.6%

3.3%
0.7%
2.4%
2.7%
2.4%
13.8%
3.4%

3.5%
3.7%
3.6%
4.3%
3.8%
13.3%
4.7%

4.1%
1.3%
3.0%
4.4%
3.4%
13.9%
4.4%

4.1%
(1.7%)
1.9%
1.3%
1.7%
11.6%
2.7%

0.9%
(2.0%)
(0.2%)
(3.0%)
(1.1%)
7.3%
(0.3%)

(4.1%)
(4.5%)
(4.3%)
(9.1%)
(5.8%)
3.3%
(4.9%)

3.5%
1.6%
3.1%
2.7%
3.0%
10.8%
4.8%

3.5%
4.4%
3.8%
5.4%
4.2%
12.4%
6.1%

7.6%
5.4%
7.0%
9.9%
7.7%
18.8%
10.3%

5.7%
6.1%
5.8%
9.2%
6.6%
18.5%
9.4%

7.2%
4.3%
6.4%
10.6%
7.4%
17.7%
9.9%

6.5%
1.2%
5.2%
7.8%
5.8%
14.5%
8.0%

0.3%
(0.9%)
0.1%
(0.6%)
(0.1%)
4.7%
1.1%

(3.2%)
(0.9%)
(2.6%)
(5.8%)
(3.4%)
1.5%
(2.2%)

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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages
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 (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS

7.5

7.7

7.4

7.4

7.5

7.6

7.1

6.9

$2.10

$2.06

$2.10

$2.19

$2.20

$2.21

$2.29

$2.43

65

63

64

65

65

63

62

65

1 - In fiscal 2007, we reclassified certain statistics previously included within International Priority package statistics in the table above that were international priority freight shipments to
International Priority Freight statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been
significant, and accordingly, we have reclassified the amounts for 2000-2001 to include these revenues within our Freight revenues.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

19

FedEx Express Quarterly Shipment Statistics

FY 2002 FY 2003
FY 2002
FY 2003
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages

1,165
721
1,886
814
2,700
333
3,033

1,141
676
1,817
845
2,662
335
2,997

1,193
698
1,891
958
2,849
329
3,178

1,179
702
1,881
859
2,740
354
3,094

1,153
680
1,833
846
2,679
355
3,034

1,183
685
1,868
903
2,771
377
3,148

1,189
662
1,851
978
2,829
355
3,184

1,180
687
1,867
863
2,730
377
3,107

4,352
760
2,107
7,219

8,547
935
2,089
11,571

8,985
877
1,989
11,851

9,145
1,030
2,138
12,313

8,965
951
2,019
11,935

9,469
1,052
2,271
12,792

9,131
881
2,183
12,195

8,324
1,027
2,224
11,575

$18.12
9.93
14.99
11.03
13.80
40.47
$16.72

$18.06
9.87
15.02
10.77
13.67
40.76
$16.70

$17.56
9.78
14.69
10.41
13.25
40.01
$16.02

$17.86
9.78
14.84
10.89
13.60
40.20
$16.64

$18.08
9.81
15.01
10.93
13.72
40.96
$16.91

$18.12
9.79
15.07
10.95
13.73
41.51
$17.06

$18.09
10.03
15.21
10.82
13.69
42.70
$16.92

$18.43
10.16
15.39
11.40
14.13
44.29
$17.79

$0.61
1.63
0.71
$0.75

$0.67
1.57
0.75
$0.76

$0.64
1.53
0.73
$0.72

$0.64
1.52
0.70
$0.72

$0.66
1.64
0.71
$0.75

$0.67
1.70
0.71
$0.76

$0.69
1.74
0.73
$0.77

$0.73
1.78
0.75
$0.83

(7.1%)
(4.9%)
(6.3%)
(7.1%)
(6.5%)
(0.6%)
(5.9%)

(11.7%)
(10.7%)
(11.3%)
(8.6%)
(10.5%)
(5.9%)
(10.0%)

(7.4%)
(6.8%)
(7.2%)
(0.4%)
(5.0%)
(2.4%)
(4.7%)

(3.6%)
(8.0%)
(5.3%)
2.6%
(3.0%)
2.9%
(2.3%)

(1.0%)
(5.6%)
(2.8%)
3.9%
(0.8%)
6.6%
0.0%

3.7%
1.3%
2.8%
6.9%
4.1%
12.5%
5.0%

(0.4%)
(5.1%)
(2.1%)
2.0%
(0.7%)
7.9%
0.2%

0.1%
(2.2%)
(0.7%)
0.5%
(0.4%)
6.5%
0.4%

(7.2%)
(1.5%)
(5.8%)
(5.6%)
(5.8%)
(3.4%)
(5.2%)

(12.5%)
(7.8%)
(11.4%)
(9.5%)
(10.9%)
(7.7%)
(10.1%)

(8.8%)
(6.1%)
(8.2%)
(3.2%)
(6.9%)
(5.2%)
(6.5%)

(5.1%)
(9.2%)
(6.2%)
1.0%
(4.5%)
1.7%
(2.8%)

(2.8%)
(8.2%)
(4.1%)
1.4%
(2.8%)
6.4%
(0.4%)

4.0%
0.7%
3.2%
8.8%
4.6%
14.6%
7.3%

4.3%
(1.4%)
2.9%
7.8%
4.2%
16.9%
7.5%

1.7%

1.3%
3.6%
1.9%
15.7%
5.7%

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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages
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 (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS

6.9

7.0

6.7

6.7

6.8

7.0

6.8

6.8

$2.42

$2.40

$2.40

$2.48

$2.49

$2.45

$2.50

$2.62

65

63

62

65

64

63

63

64

1 - In fiscal 2007, we reclassified certain statistics previously included within International Priority package statistics in the table above that were international priority freight shipments to
International Priority Freight statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been
significant, and accordingly, we have reclassified the amounts for 2002-2003 to include these revenues within our Freight revenues.

Unaudited. Differences may result due to rounding.

20 / FedEx Historical Stat Book

FedEx Express Quarterly Shipment Statistics

FY 2004 FY 2005
FY 2004
FY 2005
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages

1,169
682
1,851
871
2,722
367
3,089

1,169
655
1,824
924
2,748
394
3,142

1,197
628
1,825
1,003
2,828
389
3,217

1,182
700
1,882
902
2,784
422
3,206

1,150
662
1,812
862
2,674
415
3,089

1,179
663
1,842
941
2,783
439
3,222

1,217
681
1,898
1,086
2,984
432
3,416

1,192
712
1,904
947
2,851
448
3,299

7,898
976
2,276
11,150

8,649
1,193
2,092
11,934

9,082
1,110
2,060
12,252

8,459
1,311
1,944
11,714

8,213
1,294
1,861
11,368

9,008
1,505
1,874
12,387

9,331
1,385
1,868
12,584

9,012
1,399
2,051
12,462

$18.02
9.90
15.03
10.87
13.70
44.54
$17.36

$18.29
9.90
15.27
10.74
13.75
45.50
$17.73

$18.37
10.06
15.51
10.85
13.86
46.65
$17.83

$19.24
10.14
15.86
11.52
14.45
46.98
$18.74

$19.37
10.21
16.02
11.57
14.59
47.80
$19.05

$19.81
10.33
16.40
11.51
14.74
49.24
$19.44

$19.79
10.51
16.46
11.26
14.57
50.38
$19.09

$20.08
10.44
16.48
11.54
14.84
50.41
$19.66

$0.72
1.75
0.72
$0.81

$0.74
1.72
0.74
$0.84

$0.73
1.81
0.75
$0.83

$0.77
1.84
0.74
$0.88

$0.79
1.79
0.74
$0.90

$0.83
1.86
0.77
$0.94

$0.82
1.94
0.81
$0.94

$0.83
1.94
0.80
$0.95

1.4%
0.2%
1.0%
3.0%
1.6%
3.4%
1.8%

(1.2%)
(4.4%)
(2.4%)
2.3%
(0.9%)
4.5%
(0.2%)

0.7%
(5.1%)
(1.4%)
2.6%
(0.0%)
9.6%
1.0%

0.2%
1.9%
0.8%
4.5%
2.0%
11.9%
3.2%

(1.6%)
(2.9%)
(2.1%)
(1.0%)
(1.8%)
13.1%

0.9%
1.2%
1.0%
1.8%
1.3%
11.4%
2.5%

1.7%
8.4%
4.0%
8.3%
5.5%
11.1%
6.2%

0.8%
1.7%
1.2%
5.0%
2.4%
6.2%
2.9%

1.0%
1.2%
1.0%
2.5%
1.4%
12.5%
4.5%

(0.3%)
(3.5%)
(1.1%)
0.4%
(0.7%)
14.4%
3.7%

2.2%
(4.8%)
0.6%
3.0%
1.2%
19.9%
6.5%

6.3%
3.1%
5.5%
7.1%
5.9%
20.7%
10.4%

7.5%
1.6%
6.1%
6.9%
6.3%
23.2%
11.5%

9.2%
5.9%
8.4%
8.9%
8.6%
20.5%
12.4%

7.8%
11.6%
8.6%
10.6%
9.2%
17.7%
11.9%

5.3%
4.8%
5.2%
5.2%
5.2%
13.7%
8.0%

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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Avg Daily Packages
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 (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Volume Growth
.

Revenue Growth:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
Total Package Revenue Growth
.

AVG POUNDS PER PACKAGE

AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS

7.0

7.3

7.1

7.1

7.2

7.3

7.0

7.0

$2.48

$2.43

$2.52

$2.65

$2.66

$2.65

$2.73

$2.82

64

63

63

65

65

63

62

65

1 - In fiscal 2007, we reclassified certain statistics previously included within International Priority package statistics in the table above that were international priority freight shipments to
International Priority Freight statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been
significant, and accordingly, we have reclassified the amounts for 2004-2005 to include these revenues within our Freight revenues.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

21

FedEx Express Quarterly Shipment Statistics

FY 2006 FY 2007
FY 2006
FY 2007
FIRST
SECOND
THIRD
FOURTH
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Avg Daily Packages

1,180
711
1,891
897
2,788
441

1,211
702
1,913
886
2,799
475

1,225
711
1,936
965
2,901
474

1,196
726
1,922
858
2,780
475
3,255

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

3,229

3,274

3,375

8,885
1,386
2,039
12,310

9,544
1,756
2,283
13,583

9,619
1,620
2,177
13,416

9,464
1,777
2,012
13,253

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

$20.34
10.57
16.67
11.78
15.10
50.93

$21.03
10.86
17.30
12.56
15.80
51.53

$21.03
11.01
17.35
12.54
15.75
50.62

$21.34
11.01
17.44
12.82
16.01
53.36

$19.99

$20.99

$20.65

$21.46

$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

$0.88
1.94
0.79
$0.98

$0.94
1.93
0.81
$1.05

$0.96
2.01
0.80
$1.06

$0.93
2.16
0.80
$1.08

$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

2.6%
7.4%
4.4%
4.1%
4.3%
6.3%

2.7%
5.9%
3.9%
(5.8%)
0.6%
8.2%

0.7%
4.4%
2.0%
(11.1%)
(2.8%)
9.7%

0.3%
2.0%
0.9%
(9.4%)
(2.5%)
6.0%

4.5%

1.6%

(1.2%)

(1.3%)

(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%

7.7%
11.4%
8.5%
6.0%
7.9%
13.2%

9.1%
11.1%
9.6%
2.8%
7.8%
13.4%

7.0%
9.5%
7.5%
(1.2%)
5.1%
10.5%

6.7%
7.5%
6.9%
0.7%
5.3%
12.3%

9.7%

9.7%

6.9%

7.7%

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%

7.0

7.3

7.0

7.1

7.1

7.3

7.4

7.5

$2.85

$2.87

$2.95

$3.04

$3.07

$3.02

$2.80

$2.77

65

63

62

65

65

63

62

65

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
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Avg Daily Packages
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 (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
U.S. Deferred (E2, ES)
Total U.S. Packages
International Priority (IP,IE) 1
International Domestic2
Total Package Volume Growth
.

Revenue Growth:
U.S. Overnight Box (FO, POB, SOB)
U.S. Overnight Envelope (POE, SOE)
Total U.S. Overnight
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 - In fiscal 2007, we reclassified certain statistics previously included within International Priority package statistics in the table above that were international priority freight shipments
to International Priority Freight statistics to more precisely present the nature of the services provided. Our revenue growth associated with these freight service offerings has been
significant, and accordingly, we have reclassified the amounts for 2006-2007 to include these revenues within our Freight revenues.
2 - Beginning Q1 FY08, FedEx Express began disclosing International Domestic shipments for FY08 and FY07. 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 and India.
Unaudited. Differences may result due to rounding.

22 / FedEx Historical Stat Book

FedEx Express Aircraft and Vehicle Fleet Statistics

FY 1998 FY 2007

Aircraft Type

Max. Operational
Revenue Payload
(Lbs/Aircraft)1

1998

1999

2000

2001

Boeing 727-100

27,500

68

68

66

52

42

Boeing 727-200

38,200

95

95

95

95

Boeing 757-200

45,800

Boeing DC10-10

108,700

47

58

Boeing DC10-30

114,200

22

Boeing MD10-10

108,700

Boeing MD10-30
Boeing MD11

May 31
2002 2003

2004

2005

2006

28

19

18

13

95

94

94

94

94

94

69

48

48

48

39

30

25

13

22

22

22

19

17

17

17

14

13

11

19

27

36

41

50

114,200

164,200

25

28

30

34

39

42

42

57

58

58

Airbus A300-600

85,600

24

31

36

37

37

43

44

47

53

60

Airbus A310-200/300

61,900

39

39

41

46

50

51

51

62

65

66

Cessna 208A

1,900

10

10

10

10

10

10

10

10

10

10

Cessna 208B

2,500

251

251

251

248

248

247

246

246

243

243

Fokker F-27

9,850

32

32

32

32

32

30

27

17

ATR 72

14,660

11

13

ATR 42

10,880

22

29

29

29

8,300

11

11

11

613

634

663

640

647

643

645

670

671

669

Long-Haul Tractors
All Other Motorized Vehicles

1.9
39.0

2.2
40.3

2.7
41.9

2.7
42.1

2.9
41.8

2.8
39.9

2.8
38.9

2.7
37.4

2.8
39.8

2.7
40.9

Vehicle Fleet Total

40.9

42.5

44.6

44.8

44.7

42.7

41.7

40.1

42.6

43.6

Shorts SD3-60
Aircraft Fleet Total

2007

Vehicle Fleet (000s)

1 - Maximum Operational Revenue Payload (MORP) is the lesser of the net volume-limited payload and the net maximum structural payload.

FedEx Historical Stat Book /

23

FedEx Express Jet Fuel Statistics

FY 1998 FY 2007
FY 1998
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Jet Fuel Gallons (000s)

195,304

212,020

207,603

212,030

213,962

216,362

223,327

221,524

$0.711

$0.710

$0.710

$0.633

$0.541

$0.555

$0.501

$0.541

$138,826

$150,604

$147,318

$134,213

$115,820

$120,064

$111,853

$119,861

Price Per Gallon

Jet Fuel Expense ($000s)

FY 2000
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Jet Fuel Gallons (000s)

224,825

Price Per Gallon

Jet Fuel Expense ($000s)

233,838

227,069

232,209

$0.897

$0.841

$0.833

$1.038

$0.968

$0.846

$195,379

$194,329

$254,303

$226,194

$197,361

269,365

268,660

278,320

280,355

286,423

277,402

280,582

$0.932

$0.825

$0.707

$0.794

$0.831

$0.925

$0.992

$1.015

$218,868

$222,241

$189,892

$221,087

$233,022

$264,942

$275,253

$284,799

277,029

281,115

283,460

284,014

FY 2005
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
284,564

294,796

294,325

299,168

$0.907

$0.949

$1.093

$1.170

$1.300

$1.553

$1.488

$1.717

$251,379

$266,842

$309,748

$332,296

$370,074

$457,720

$438,031

$513,753

FY 2007
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

302,980

307,504

305,771

309,490

309,348

312,274

311,345

311,503

$1.850

$2.226

$1.947

$2.122

$2.318

$2.072

$1.980

$2.115

$560,586

$684,611

$595,258

$656,643

$717,150

$646,913

$616,323

$658,788

Unaudited. Differences may result due to rounding.

24 / FedEx Historical Stat Book

FY 2003
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

234,860

Price Per Gallon

Jet Fuel Expense ($000s)

233,251

$203,569

FY 2006
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Jet Fuel Gallons (000s)

233,734

$0.766

Price Per Gallon

Jet Fuel Expense ($000s)

244,978

$179,011

FY 2004
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Jet Fuel Gallons (000s)

233,321

$0.648

Price Per Gallon

Jet Fuel Expense ($000s)

FY 2001
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

$145,626

FY 2002
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Jet Fuel Gallons (000s)

FY 1999
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

FedEx Ground Segment Annual Consolidated Statements of Income

FY 2001 FY 2007
Years ended May 31
In millions

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007

$2,565

$2,918

$3,581

$3,910

$4,680

$5,306

$6,043

593
921
94
118
9
69

244
404
2,452

623
1,067
85
136
5
76

256
333
2,581

709
1,327
88
155
11
89

346
362
3,087

740
1,465
98
154
16
95
1
423
387
3,379

845
1,791
122
176
48
110

462
502
4,056

929
2,019
133
224
93
118

515
559
4,590

1,006
2,430
166
268
13
134

569
635
5,221

$ 113

$ 337

$ 494

$ 531

$ 624

$ 716

$ 822

4.4%

11.5%

13.8%

13.6%

13.3%

13.5%

13.6%

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
Fuel1
Maintenance and repairs
Business realignment costs
Intercompany charges2
Other

.
Operating Income

SELECTED STATISTICS
Operating Margin

1 - In Q2 FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation
expense. FY07 amounts have been revised to conform to the current period presentation.
2 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 - FY07 amounts have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

25

FedEx Ground Segment Quarterly Consolidated Statements of Income

FY 2001 FY 2002
Years ended May 31
In millions

FIRST
QUARTER

FY 2001
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2002
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other

Operating Income

$623

$670

$613

$659

$683

$728

$715

$792

141
228
21
26
1
18
60
94
589

153
237
24
29
2
16
62
99
622

148
222
24
31
3
18
59
100
605

151
234
25
32
3
17
63
111
636

150
249
21
32
2
19
66
85
624

156
269
24
33
1
19
61
84
647

156
266
21
35
1
19
63
85
646

161
283
19
36
1
19
66
79
664

$ 34

$ 48

$ 23

$ 59

$ 81

$ 69

$128

5.5%

7.2%

1.3%

3.5%

8.6%

11.1%

9.7%

16.2%

SELECTED STATISTICS
Operating Margin

Unaudited. Differences may result due to rounding.

26 / FedEx Historical Stat Book

FedEx Ground Segment Quarterly Consolidated Statements of Income

FY 2003 FY 2004
Years ended May 31
In millions

FIRST
QUARTER

FY 2003
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2004
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Business realignment costs
1
Intercompany charges
Other

Operating Income

$ 869

$ 905

$ 886

$ 921

$ 914

$ 978

$ 960

$1,058

176
318
23
37
1
22

94
97
768

179
337
23
40
3
22

81
85
770

176
335
23
38
3
22

90
90
777

178
337
19
40
4
23

81
90
772

177
342
20
37
2
23

102
95
798

187
367
26
39
3
24

103
94
843

183
367
26
38
4
22
1
107
100
848

193
389
26
40
7
26

111
98
890

$ 101

$ 135

$ 109

$ 149

$ 116

$ 135

$ 112

$ 168

11.6%

14.9%

12.3%

16.2%

12.7%

13.8%

11.6%

15.9%

SELECTED STATISTICS
Operating Margin

1 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY04 amount
have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

27

FedEx Ground Segment Quarterly Consolidated Statements of Income

FY 2005 FY 2006
Years ended May 31
In millions

FIRST
QUARTER

FY 2005
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2006
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
1
Intercompany charges
Other

Operating Income

$1,073

$1,174

$1,200

$1,233

$1,219

$1,307

$1,363

$1,417

197
410
26
40
7
26
112
105
923

213
456
32
43
13
26
113
137
1,033

214
464
31
47
11
28
121
132
1,048

221
461
33
46
17
30
116
128
1,052

221
466
31
50
18
29
117
136
1,068

230
506
36
53
27
28
127
135
1,142

237
517
35
58
21
29
133
144
1,174

241
530
31
63
27
32
138
144
1,206

$ 150

$ 141

$ 152

$ 181

$ 151

$ 165

$ 189

$ 211

14.0%

12.0%

12.7%

14.7%

12.4%

12.6%

13.9%

14.9%

SELECTED STATISTICS
Operating Margin

1 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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. FY05-FY06
amounts have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

28 / FedEx Historical Stat Book

FedEx Ground Segment Quarterly Consolidated Statements of Income

FY 2007
Years ended May 31
In millions

FIRST
QUARTER

FY 2007
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation1
Rentals
Depreciation and amortization
1
Fuel
Maintenance and repairs
Intercompany charges2
Other

Operating Income

$1,417

$1,520

$1,523

$1,583

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

$ 159

$ 193

$ 196

$ 274

11.2%

12.7%

12.9%

17.3%

SELECTED STATISTICS
Operating Margin

1 - In Q2 FY09, the company reclassified certain fuel supplemental costs at FedEx Ground related to its independent contractors from fuel expense to purchased transportation expense. FY07
amounts have been revised to conform to the current period presentation.
2 - FedEx Office was acquired in the fourth quarter of fiscal 2004. During Q1 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 amount
have been revised to conform to the current segment presentation.

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

29

FedEx Ground Segment Annual Shipment Statistics

FY 1998 FY 2007

FedEx Ground
Total Package Volume (000s)

FY 1998

FY 1999

FY 2000

FY 2001

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 2007
797,130

339,504

350,501

366,315

386,155

443,912

546,313

580,459

667,904

717,825

Average Daily Package Volume (000s)

1,326

1,385

1,442

1,520

1,755

2,168

2,285

2,609

2,815

3,126

Yield

$5.04

$5.36

$5.55

$5.79

$6.11

$6.25

$6.48

$6.68

$7.02

$7.21

Average Daily YOY Volume Growth Rate

18.3%

4.4%

4.1%

5.4%

15.5%

23.5%

5.4%

14.2%

7.9%

11.0%

256

253

254

254

253

252

254

256

255

255

OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield

151,547
599
$1.88

Average Daily YOY Volume Growth Rate

N/A

OPERATING WEEKDAYS

253

Unaudited. Differences may result due to rounding.

30 / FedEx Historical Stat Book

FedEx Ground Segment Quarterly Shipment Statistics

FY 1998 FY 2007
FY 1998
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Total Package Volume (000s)
Average Daily Package Volume (000s)

FY 1999
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

71,422
1,231

83,204
1,410

100,309
1,337

84,569
1,321

83,886
1,311

90,756
1,464

84,572
1,364

91,286
1,404

Yield

$5.00

$5.05

$4.94

$5.17

$5.25

$5.30

$5.38

$5.49

Avg Daily YOY Package Growth Rate

21.5%

21.3%

18.3%

12.7%

OPERATING WEEKDAYS

58

59

75

64

FY 2000
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield

86,004
1,365
$5.53

Avg Daily YOY Package Growth Rate

OPERATING WEEKDAYS

95,559
1,541
$5.45

87,744
1,415
$5.54

97,009
1,448
$5.66

Avg Daily YOY Package Growth Rate

OPERATING WEEKDAYS
FedEx SmartPost
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield
Average Daily YOY Volume Growth Rate
OPERATING WEEKDAYS

FY 2001
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
95,800
1,452
$5.67

102,195
1,648
$5.69

90,807
1,441
$5.82

97,353
1,545
$5.99

3.1%

6.3%

6.9%

1.8%

6.7%

67

66

62

63

63

113,238
1,826
$5.98
10.8%
62

108,465
1,746
$6.16
21.4%
62

119,957
1,874
$6.19
21.3%
64

147,536
2,342
$6.37

142,345
2,296
$6.52

0.8%

2.7%

5.8%

64

63

62

155,178
2,387
$6.59
12.4%
65

FY 2006
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
FedEx Ground
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield

65

62

135,400
2,116
$6.44

OPERATING WEEKDAYS

62

3.8%

FY 2004
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

Avg Daily YOY Package Growth Rate

62

62

65

Total Package Volume (000s)

Average Daily Package Volume (000s)
Yield

6.3%

5.3%

8.4%

OPERATING WEEKDAYS

2.0%

63

102,252
1,573
$6.10

Avg Daily YOY Package Growth Rate

64

3.8%

4.2%

FY 2002
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Total Package Volume (000s)
Average Daily Package Volume (000s)
Yield

6.4%

168,090
2,586
$6.92

179,109
2,843
$6.90

5.7%

4.3%

65

63

182,528
2,944
$7.10
10.7%
62

188,110
2,894
$7.13
10.9%
65

FY 2003
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
134,325
2,099
$6.15
33.4%
64

141,439
2,281
$6.10
24.9%
62

134,579
2,171
$6.27
24.1%
62

135,970
2,125
$6.47
13.3%
64

FY 2005
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
159,058
2,447
$6.54
15.6%
65

171,675
2,725
$6.48
16.4%
63

167,580
2,660
$6.79

169,650
2,610
$6.91

15.9%

9.3%

63

65

FY 2007
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
190,190
2,926
$7.13
13.1%

204,246
3,242
$7.04
14.0%

199,392
3,216
$7.26

203,320
3,128
$7.43

9.2%

8.1%

65

63

62

65

33,540
516
$1.75

41,391
657
$1.95

38,820
647
$1.92

37,895
583
$1.90

N/A

N/A

N/A

N/A

65

63

60

65

Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

31

FedEx Freight Segment Annual Consolidated Statements of Income

FY 2002 FY 2007
Years ended May 31
In millions

FY 2007 1

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

$2,253

$2,443

$2,689

$3,217

$3,645

$4,586

1,218
197
101
91
133
91
13
224
2,068

1,303
224
105
88
154
115
17
244
2,250

1,427
254
100
92
172
116
21
263
2,445

1,650
315
99
102
257
128
26
286
2,863

1,801
298
94
120
377
120
37
313
3,160

2,250
465
112
195
468
165
61
407
4,123

$ 185

$ 193

$ 244

$ 354

$ 485

$ 463

8.2%

7.9%

9.1%

11.0%

13.3%

10.1%

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel2
Maintenance and repairs
Intercompany charges
Other2

Operating Income

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 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the
FedEx Freight Segment.
Unaudited. Differences may result due to rounding.

32 / FedEx Historical Stat Book

FedEx Freight Segment Quarterly Consolidated Statements of Income

FY 2001 FY 2002
Years ended May 31
In millions

FIRST
QUARTER

FY 2001
THIRD 1
SECOND
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2002
SECOND
THIRD
QUARTER QUARTER

$415

$578

$588

$565

$505

$595

208
45
22
20
32
15
1
50
393

303
52
26
30
40
24

64
539

310
53
25
21
37
23
3
61
533

300
53
25
23
34
22
3
50
510

287
41
26
25
28
20
3
53
483

321
50
25
22
34
26
4
60
542

$ 22

$ 39

$ 55

$ 55

$ 22

$ 53

5.3%

6.7%

9.4%

9.7%

4.4%

8.9%

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
2
Fuel
Maintenance and repairs
Intercompany charges
2
Other

Operating Income

SELECTED STATISTICS
Operating Margin

1 - Includes three months of operations for FedEx Freight West and two months of operations for FedEx Freight East (January and February).
2 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the FedEx Freight
segment.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

33

FedEx Freight Segment Quarterly Consolidated Statements of Income

FY 2003 FY 2004
Years ended May 31
In millions

FIRST
QUARTER

FY 2003
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2004
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
1
Fuel
Maintenance and repairs
Intercompany charges
1
Other

Operating Income

$615

$634

$568

$626

$637

$664

$630

$758

328
57
26
23
35
28
5
59
561

329
62
29
20
38
31
4
59
572

313
51
25
22
39
27
5
58
540

333
54
25
23
42
29
3
68
577

340
56
24
21
39
27
6
63
576

345
64
25
24
39
29
4
68
598

346
59
25
24
43
28
5
63
593

396
75
26
23
51
32
6
69
678

$ 54

$ 62

$ 28

$ 49

$ 61

$ 66

$ 37

$ 80

8.8%

9.8%

4.9%

7.8%

9.6%

10.0%

5.9%

10.6%

SELECTED STATISTICS
Operating Margin

1 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the FedEx Freight
segment.
Unaudited. Differences may result due to rounding.

34 / FedEx Historical Stat Book

FedEx Freight Segment Quarterly Consolidated Statements of Income

FY 2005 FY 2006
Years ended May 31
In millions

FIRST
QUARTER

FY 2005
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FIRST
QUARTER

FY 2006
SECOND
THIRD
QUARTER QUARTER

FOURTH
QUARTER

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
1
Fuel
Maintenance and repairs
Intercompany charges
1
Other

Operating Income

$807

$820

$747

$843

$892

$932

$848

$973

410
84
25
24
54
31
6
70
704

406
88
26
26
65
31
7
69
718

404
71
25
25
61
33
6
68
693

430
72
23
27
77
33
7
79
748

439
72
24
30
82
28
9
73
757

442
81
25
29
104
30
9
77
797

449
68
23
29
87
30
9
80
775

471
77
22
32
104
32
10
83
831

$103

$102

$ 54

$ 95

$135

$135

$ 73

$ 142

12.8%

12.5%

7.2%

11.3%

15.1%

14.5%

8.6%

14.6%

SELECTED STATISTICS
Operating Margin

1 - Beginning Q2 FY05, certain FedEx Freight expenses have been reclassified from Other Expense to Fuel Expense. Reclassifications extend back to Q3 FY01, the inception of the FedEx Freight
segment.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

35

FedEx Freight Segment Quarterly Consolidated Statements of Income

FY 2007
Years ended May 31
In millions

FIRST
QUARTER

FY 2007
SECOND
THIRD
FOURTH
QUARTER1 QUARTER1 QUARTER1

FINANCIAL RESULTS
Revenues
Operating Expenses:
Salaries and employee benefits
Purchased transportation
Rentals
Depreciation and amortization
Fuel
Maintenance and repairs
Intercompany charges
Other

Operating Income

$1,013

$1,225

$1,101

$1,247

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

$150

$138

$50

$125

14.8%

11.3%

4.5%

10.0%

SELECTED STATISTICS
Operating Margin

1 - The results of operations of FedEx National LTL are included in the FedEx Freight segment results from the dates of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.

36 / FedEx Historical Stat Book

FedEx Freight Annual LTL Shipment Statistics

FY 2002 FY 2007

Shipments Per Day

Weight Per Shipment
Revenue/CWT

FY 2002

FY 2003

FY 2004

FY 2005

FY 2006

FY 20071

56,000

56,403

57,702

63,358

66,748

78,236

1,114

1,114

1,127

1,132

1,143

1,130

$12.41

$13.40

$14.23

$15.48

$16.84

$18.65

Avg Daily YOY Shipment Growth Rate

OPERATING WEEKDAYS

253

0.7%

2.3%

9.8%

5.4%

17.2%

252

253

254

254

254

1 - The results of operations of FedEx National LTL are included in the FedEx Freight segment results from the dates of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.

FedEx Historical Stat Book /

37

FedEx Freight Quarterly LTL Shipment Statistics

FY 2001 FY 2007
FY 2001
1
FIRST
SECOND THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Weight Per Shipment
Revenue/CWT

FY 2002
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

54,176

57,198

57,367

56,284

52,585

57,568

1,132

1,133

1,120

1,112

1,108

1,116

$11.80

$11.84

$12.23

$12.55

$12.39

$12.50

Avg Daily YOY Shipment Growth Rate

(2.9%)

OPERATING WEEKDAYS

42

65

FY 2003
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day
Weight Per Shipment
Revenue/CWT
Avg Daily YOY Shipment Growth Rate
OPERATING WEEKDAYS

62

61

65

FY 2004
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

58,155

58,973

52,607

55,838

55,831

57,675

54,957

62,188

1,120

1,104

1,110

1,120

1,118

1,119

1,121

1,146

$12.80

$13.55

$13.59

$13.69

$13.97

$14.32

$14.35

$14.28

1.4%

4.8%

0.0%

4.5%

11.4%

64

62

62

62

65

(3.0%)
64

FY 2005
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER
Shipments Per Day

65

0.6%

(4.0%)
64

(2.2%)
62

FY 2006
FIRST
SECOND
THIRD
FOURTH
QUARTER QUARTER QUARTER QUARTER

64,397

65,104

60,051

63,810

65,321

68,266

64,171

69,185

1,128

1,130

1,129

1,142

1,132

1,161

1,141

1,137

Revenue/CWT

$14.98

$15.55

$15.58

$15.82

$16.55

$16.80

$16.74

$17.25

Avg Daily YOY Shipment Growth Rate

15.3%

12.9%

9.3%

2.6%

1.4%

4.9%

6.9%

8.4%

65

62

62

65

65

62

62

65

Weight Per Shipment

OPERATING WEEKDAYS

FY 2007
FIRST
SECOND
THIRD
FOURTH
2
2
2
QUARTER
QUARTER
QUARTER
QUARTER
Shipments Per Day
Weight Per Shipment
Revenue/CWT
Avg Daily YOY Shipment Growth Rate
OPERATING WEEKDAYS

69,635

86,976

77,096

79,701

1,130

1,127

1,129

1,136

$17.90

$18.73

$18.68

$19.18

6.6%

27.4%

20.1%

15.2%

65

61

62

66

1 - Based on the portion of the quarter that included both FedEx Freight East and FedEx Freight West (January and February).
2 - The results of operations of FedEx National LTL are included in the FedEx Freight segment results from the dates of its acquisition on September 3, 2006.
Unaudited. Differences may result due to rounding.

38 / FedEx Historical Stat Book