Attached files
file | filename |
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EX-31.1 - EXHIBIT 31.1 - FEDEX CORP | c93697exv31w1.htm |
EX-32.1 - EXHIBIT 32.1 - FEDEX CORP | c93697exv32w1.htm |
EX-15.1 - EXHIBIT 15.1 - FEDEX CORP | c93697exv15w1.htm |
EX-32.2 - EXHIBIT 32.2 - FEDEX CORP | c93697exv32w2.htm |
EX-10.1 - EXHIBIT 10.1 - FEDEX CORP | c93697exv10w1.htm |
EXCEL - IDEA: XBRL DOCUMENT - FEDEX CORP | Financial_Report.xls |
10-Q - FORM 10-Q - FEDEX CORP | c93697e10vq.htm |
EX-31.2 - EXHIBIT 31.2 - FEDEX CORP | c93697exv31w2.htm |
EXHIBIT 12.1
FEDEX CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(IN MILLIONS, EXCEPT RATIOS)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(IN MILLIONS, EXCEPT RATIOS)
Six Months Ended | ||||||||||||||||||||||||||||
November 30, | Year Ended May 31, | |||||||||||||||||||||||||||
2009 | 2008 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||||||
Income before income taxes |
$ | 841 | $ | 1,392 | $ | 677 | $ | 2,016 | $ | 3,215 | $ | 2,899 | $ | 2,313 | ||||||||||||||
Add back: |
||||||||||||||||||||||||||||
Interest expense, net of capitalized interest |
38 | 36 | 85 | 98 | 136 | 142 | 160 | |||||||||||||||||||||
Amortization of debt issuance costs |
6 | 2 | 5 | 5 | 6 | 5 | 6 | |||||||||||||||||||||
Portion of rent expense representative
of interest factor |
385 | 400 | 795 | 784 | 766 | 842 | 800 | |||||||||||||||||||||
Earnings as adjusted |
$ | 1,270 | $ | 1,830 | $ | 1,562 | $ | 2,903 | $ | 4,123 | $ | 3,888 | $ | 3,279 | ||||||||||||||
Fixed Charges: |
||||||||||||||||||||||||||||
Interest expense, net of capitalized interest |
$ | 38 | $ | 36 | $ | 85 | $ | 98 | $ | 136 | $ | 142 | $ | 160 | ||||||||||||||
Capitalized interest |
44 | 32 | 71 | 50 | 34 | 33 | 22 | |||||||||||||||||||||
Amortization of debt issuance costs |
6 | 2 | 5 | 5 | 6 | 5 | 6 | |||||||||||||||||||||
Portion of rent expense representative
of interest factor |
385 | 400 | 795 | 784 | 766 | 842 | 800 | |||||||||||||||||||||
$ | 473 | $ | 470 | $ | 956 | $ | 937 | $ | 942 | $ | 1,022 | $ | 988 | |||||||||||||||
Ratio of Earnings to Fixed Charges |
2.7 | 3.9 | 1.6 | 3.1 | 4.4 | 3.8 | 3.3 | |||||||||||||||||||||