10-Q Filing

FEDERAL EXPRESS CORP CIK: 230211 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-129798`
Period End Date	20120229
Filing Date	20120323
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	fec-20120229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 68 Cash Flow Statement 38

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$747.00M	USD	Point-in-time
Allowances for receivables	`AllowancesForReceivables`	$83.00M	USD	Point-in-time
Allowances for receivables	`AllowancesForReceivables`	$88.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$570.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time
Receivables, less allowances of $88 and $83	`ReceivablesNetCurrent`	$1.61B	USD	Point-in-time
Receivables, less allowances of $88 and $83	`ReceivablesNetCurrent`	$1.65B	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`	$180.00M	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $180 and $169	`SparePartsSuppliesAndFuelLessAllowances`	$367.00M	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $180 and $169	`SparePartsSuppliesAndFuelLessAllowances`	$372.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$398.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$405.00M	USD	Point-in-time
Due from parent company and other FedEx subsidiaries	`DueFromAffiliateCurrent`	$282.00M	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
Due from parent company and other FedEx subsidiaries	`DueFromAffiliateCurrent`	$607.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpensesAndOther`	$105.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	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
Total current assets	`AssetsCurrent`	$3.52B	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
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$23.32B	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
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.71B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$11.11B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$10.51B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$11.61B	USD	Point-in-time
Goodwill	`Goodwill`	$1.18B	USD	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.18B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.02B	USD	Point-in-time
Total other long-term assets	`TotalOtherLongtermAssets`	$2.10B	USD	Point-in-time
Total other long-term assets	`TotalOtherLongtermAssets`	$2.35B	USD	Point-in-time
ASSETS	`Assets`	$17.48B	USD	Point-in-time
ASSETS	`Assets`	$16.35B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$418.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$17.00M	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$895.00M	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$836.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$906.00M	USD	Point-in-time
Due to other FedEx subsidiaries	`DueToAffiliateCurrent`	$283.00M	USD	Point-in-time
Due to other FedEx subsidiaries	`DueToAffiliateCurrent`	$397.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.31B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.74B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$655.00M	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$239.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.49B	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`	$898.00M	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceReserve`	$631.00M	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceReserve`	$641.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$663.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$695.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$244.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$242.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$115.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$114.00M	USD	Point-in-time
Total other long-term liabilities	`OtherLiabilitiesNoncurrentTotal`	$5.05B	USD	Point-in-time
Total other long-term liabilities	`OtherLiabilitiesNoncurrentTotal`	$4.55B	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`	$7.11B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.74B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$98.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$118.00M	USD	Point-in-time
Total owner's equity	`StockholdersEquity`	$8.45B	USD	Point-in-time
Total owner's equity	`StockholdersEquity`	$7.83B	USD	Point-in-time
LIABILITIES AND OWNER'S EQUITY	`LiabilitiesAndStockholdersEquity`	$16.35B	USD	Point-in-time
LIABILITIES AND OWNER'S EQUITY	`LiabilitiesAndStockholdersEquity`	$17.48B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$17.52B	USD	3 Qtrs
REVENUES	`Revenues`	$19.18B	USD	3 Qtrs
REVENUES	`Revenues`	$6.36B	USD	1 Quarter
REVENUES	`Revenues`	$5.91B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$2.25B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$6.64B	USD	3 Qtrs
Salaries and employee benefits	`LaborAndRelatedExpense`	$6.99B	USD	3 Qtrs
Salaries and employee benefits	`LaborAndRelatedExpense`	$2.34B	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$313.00M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$337.00M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$910.00M	USD	3 Qtrs
Purchased transportation	`PurchasedTransportation`	$1.01B	USD	3 Qtrs
Rentals and landing fees	`RentalsAndLandingFees`	$1.25B	USD	3 Qtrs
Rentals and landing fees	`RentalsAndLandingFees`	$418.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$419.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$1.24B	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$263.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$296.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$778.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$860.00M	USD	3 Qtrs
Fuel	`FuelCosts`	$3.19B	USD	3 Qtrs
Fuel	`FuelCosts`	$898.00M	USD	1 Quarter
Fuel	`FuelCosts`	$1.08B	USD	1 Quarter
Fuel	`FuelCosts`	$2.45B	USD	3 Qtrs
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$1.03B	USD	3 Qtrs
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$301.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$999.00M	USD	3 Qtrs
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$330.00M	USD	1 Quarter
Intercompany charges, net	`IntercompanyChargesNetOperating`	$540.00M	USD	1 Quarter
Intercompany charges, net	`IntercompanyChargesNetOperating`	$491.00M	USD	1 Quarter
Intercompany charges, net	`IntercompanyChargesNetOperating`	$1.62B	USD	3 Qtrs
Intercompany charges, net	`IntercompanyChargesNetOperating`	$1.50B	USD	3 Qtrs
Other	`OtherCostAndExpenseOperating`	$705.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.25B	USD	3 Qtrs
Other	`OtherCostAndExpenseOperating`	$769.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.23B	USD	3 Qtrs
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$5.74B	USD	1 Quarter
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$16.74B	USD	3 Qtrs
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$6.01B	USD	1 Quarter
OPERATING EXPENSES	`OperatingCostsAndExpenses`	$18.21B	USD	3 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$176.00M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$972.00M	USD	3 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$351.00M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$782.00M	USD	3 Qtrs
Interest, net	`InterestNet`	$8.00M	USD	1 Quarter
Interest, net	`InterestNet`	$6.00M	USD	3 Qtrs
Interest, net	`InterestNet`	$28.00M	USD	3 Qtrs
Interest, net	`InterestNet`	$2.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-38.00M	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-22.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-59.00M	USD	3 Qtrs
Other, net	`OtherNonoperatingIncomeExpense`	$-18.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-10.00M	USD	3 Qtrs
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-53.00M	USD	3 Qtrs
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-20.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-10.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$156.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$962.00M	USD	3 Qtrs
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$729.00M	USD	3 Qtrs
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$341.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$110.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$56.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$325.00M	USD	3 Qtrs
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$265.00M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$464.00M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$637.00M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$100.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$231.00M	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$464.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$637.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$100.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$231.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$263.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$296.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$778.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$860.00M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$372.00M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$500.00M	USD	3 Qtrs
Changes in assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$546.00M	USD	3 Qtrs
Changes in assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$277.00M	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.16B	USD	3 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.27B	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.02B	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.04B	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$96.00M	USD	3 Qtrs
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$114.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-6.00M	USD	3 Qtrs
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-11.00M	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.12B	USD	3 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.12B	USD	3 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$12.00M	USD	3 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$27.00M	USD	3 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.00M	USD	3 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.00M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$32.00M	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$121.00M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$58.00M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$747.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$570.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$626.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$747.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$570.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$512.00M	USD	Point-in-time

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