10-Q Filing

FEDERAL EXPRESS CORP CIK: 230211 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-086379`
Period End Date	20110831
Filing Date	20110923
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	fec-20110831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 34 Cash Flow Statement 33

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$637.00M	USD	Point-in-time
Allowances for receivables	`AllowancesForReceivables`	$83.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$518.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time
Allowances for receivables	`AllowancesForReceivables`	$84.00M	USD	Point-in-time
Receivables, less allowances of $84 and $83	`ReceivablesNetCurrent`	$1.71B	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$169.00M	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$174.00M	USD	Point-in-time
Receivables, less allowances of $84 and $83	`ReceivablesNetCurrent`	$1.65B	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $174 and $169	`SparePartsSuppliesAndFuelLessAllowances`	$367.00M	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $174 and $169	`SparePartsSuppliesAndFuelLessAllowances`	$345.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$398.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$398.00M	USD	Point-in-time
Due from parent company and other FedEx subsidiaries	`DueFromAffiliateCurrent`	$288.00M	USD	Point-in-time
Due from parent company and other FedEx subsidiaries	`DueFromAffiliateCurrent`	$607.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpensesAndOther`	$90.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpensesAndOther`	$108.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.73B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.48B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1,000.00	shares	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$21.62B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1,000.00	shares	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$22.10B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.11B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.32B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$10.78B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$10.51B	USD	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Goodwill	`Goodwill`	$1.19B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.40B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.02B	USD	Point-in-time
Total other long-term assets	`TotalOtherLongtermAssets`	$2.59B	USD	Point-in-time
Total other long-term assets	`TotalOtherLongtermAssets`	$2.10B	USD	Point-in-time
ASSETS	`Assets`	$16.86B	USD	Point-in-time
ASSETS	`Assets`	$16.35B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$17.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$301.00M	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$836.00M	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$842.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.03B	USD	Point-in-time
Due to other FedEx subsidiaries	`DueToAffiliateCurrent`	$283.00M	USD	Point-in-time
Due to other FedEx subsidiaries	`DueToAffiliateCurrent`	$500.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.76B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.31B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$355.00M	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$655.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.07B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.99B	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$867.00M	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$893.00M	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceReserve`	$621.00M	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceReserve`	$631.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$740.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$695.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$238.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$244.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$115.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$147.00M	USD	Point-in-time
Total other long-term liabilities	`OtherLiabilitiesNoncurrentTotal`	$4.55B	USD	Point-in-time
Total other long-term liabilities	`OtherLiabilitiesNoncurrentTotal`	$4.71B	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.10 par value; 1,000 shares authorized, issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Common stock, $0.10 par value; 1,000 shares authorized, issued and outstanding	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$608.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$608.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.29B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.11B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$118.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$135.00M	USD	Point-in-time
Total owner's equity	`StockholdersEquity`	$7.83B	USD	Point-in-time
Total owner's equity	`StockholdersEquity`	$8.04B	USD	Point-in-time
LIABILITIES AND OWNER'S EQUITY	`LiabilitiesAndStockholdersEquity`	$16.86B	USD	Point-in-time
LIABILITIES AND OWNER'S EQUITY	`LiabilitiesAndStockholdersEquity`	$16.35B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$6.41B	USD	1 Quarter
REVENUES	`Revenues`	$5.77B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$2.19B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$2.34B	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$336.00M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$290.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$418.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$398.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$279.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$252.00M	USD	1 Quarter
Fuel	`FuelCosts`	$1.08B	USD	1 Quarter
Fuel	`FuelCosts`	$754.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$350.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$379.00M	USD	1 Quarter
Intercompany charges, net	`IntercompanyChargesNetOperating`	$506.00M	USD	1 Quarter
Intercompany charges, net	`IntercompanyChargesNetOperating`	$541.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$756.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$674.00M	USD	1 Quarter
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$6.13B	USD	1 Quarter
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$5.42B	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$351.00M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$282.00M	USD	1 Quarter
Interest, net	`InterestNet`	$8.00M	USD	1 Quarter
Interest, net	`InterestNet`	$3.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-18.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-13.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-15.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-5.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$277.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$336.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$92.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$124.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$212.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$185.00M	USD	1 Quarter

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$212.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$185.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$279.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$252.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$26.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$97.00M	USD	1 Quarter
Changes in assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$435.00M	USD	1 Quarter
Changes in assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$357.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$996.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$847.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$-842.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$-870.00M	USD	1 Quarter
Business acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-111.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$1.00M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-979.00M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-841.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$-11.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$-17.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$11.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$11.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$637.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$518.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$637.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$518.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.