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Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company's business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

FedEx Corp., Consolidated Income Statement

USD $ in millions

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12 months ended May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
Revenues hidden hidden hidden hidden hidden hidden
Purchased transportation hidden hidden hidden hidden hidden hidden
Rentals and landing fees hidden hidden hidden hidden hidden hidden
Fuel hidden hidden hidden hidden hidden hidden
Maintenance and repairs hidden hidden hidden hidden hidden hidden
Cost of revenue hidden hidden hidden hidden hidden hidden
Gross profit hidden hidden hidden hidden hidden hidden
Salaries and employee benefits hidden hidden hidden hidden hidden hidden
Depreciation and amortization hidden hidden hidden hidden hidden hidden
Goodwill and other asset impairment charges hidden hidden hidden hidden hidden hidden
Retirement plans mark-to-market adjustment hidden hidden hidden hidden hidden hidden
Other hidden hidden hidden hidden hidden hidden
Operating income hidden hidden hidden hidden hidden hidden
Interest expense hidden hidden hidden hidden hidden hidden
Interest income hidden hidden hidden hidden hidden hidden
Other, net hidden hidden hidden hidden hidden hidden
Other income (expense) hidden hidden hidden hidden hidden hidden
Income before income taxes hidden hidden hidden hidden hidden hidden
Provision for income taxes (benefit) hidden hidden hidden hidden hidden hidden
Net income hidden hidden hidden hidden hidden hidden
Source: FedEx Corp., Annual Reports
Item Description The company
Revenues Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. FedEx Corp.'s revenues increased from 2016 to 2017 and from 2017 to 2018.
Operating income The net result for the period of deducting operating expenses from operating revenues. FedEx Corp.'s operating income increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Income before income taxes Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. FedEx Corp.'s income before income taxes increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Net income The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes. FedEx Corp.'s net income increased from 2016 to 2017 and from 2017 to 2018.