Question: Fedex Corporation Consolidated Statements of Income (In millions, except per share amounts) Years Ending May 31, 2014 2013 2012 REVENUES 45,567 44,287 42,680 OPERATING EXPENSES:
| Fedex Corporation | ||||||||
| Consolidated Statements of Income | ||||||||
| (In millions, except per share amounts) | ||||||||
| Years Ending May 31, | ||||||||
| 2014 | 2013 | 2012 | ||||||
| REVENUES | 45,567 | 44,287 | 42,680 | |||||
| OPERATING EXPENSES: | ||||||||
| Salaries and employee benefits | 16,555 | 16,570 | 16,099 | |||||
| Purchased transportation | 8,011 | 7,272 | 6,335 | |||||
| Rentals and landing fees | 2,622 | 2,521 | 2,487 | |||||
| Depreciation and amortization | 2,587 | 2,386 | 2,113 | |||||
| Fuel | 4,557 | 4,746 | 4,956 | |||||
| Maintanance and repairs | 1,862 | 1,909 | 1,980 | |||||
| Business realignment, impairment and other charges | - | 660 | 134 | |||||
| Other | 5,927 | 5,672 | 5,390 | |||||
| 42,121 | 41,736 | 39,494 | ||||||
| OPERATING INCOME | 3,446 | 2,551 | 3,186 | |||||
| OTHER INCOME (EXPENSE): | ||||||||
| Interest expense | -160 | -82 | -52 | |||||
| Interest Income | 18 | 21 | 13 | |||||
| Other, net | -15 | -35 | -6 | |||||
| -157 | -96 | -45 | ||||||
| INCOME BEFORE INCOME TAXES | 3,289 | 2,455 | 3,141 | |||||
| PROVISION FOR INCOME TAXES | 1,192 | 894 | 1,109 | |||||
| NET INCOME | 2,097 | 1,561 | 2,032 | |||||
| BASIC EARNINGS PER COMMON SHARE | 6.82 | 4.95 | 6.44 | |||||
| DILUTED EARNINGS PER COMMON SHARE | 6.75 | 4.91 | 6.41 | |||||
| Fedex Corporation | ||||||||||||
| Consolidated Balance Sheets | ||||||||||||
| (In millions, except share data) | ||||||||||||
| 2014 | 2013 | 2012 | ||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS | ||||||||||||
| Cash and cash equivalents | 2,908 | 4,917 | 2,843 | |||||||||
| Receivables, less allowances of $164 and $176 | 5,460 | 5,044 | 4,704 | |||||||||
| Spare parts, supplies and fuel, less allowances of $212 and $205 | 463 | 457 | 440 | |||||||||
| Deferred income taxes | 522 | 533 | 533 | |||||||||
| Prepaid expenses and other | 330 | 323 | 536 | |||||||||
| Total current assets | 9,683 | 11,274 | 9,056 | |||||||||
| PROPERTY AND EQUIPMENT, AT COST | ||||||||||||
| Aircraft and related equipment | 15,632 | 14,716 | 14,360 | |||||||||
| Package handling and ground support equipment | 7,196 | 6,452 | 5,912 | |||||||||
| Computer and electronic equipment | 5,169 | 4,958 | 4,646 | |||||||||
| Vehicles | 4,400 | 4,080 | 3,654 | |||||||||
| Facilities and other | 8,294 | 7,903 | 7,592 | |||||||||
| 40,691 | 38,109 | 36,164 | ||||||||||
| Less accumulated depreciation and amortization | 21,141 | 19,625 | 18,916 | |||||||||
| Net property and equipment | 19,550 | 18,484 | 17,248 | |||||||||
| OTHER LONG-TERM ASSETS | ||||||||||||
| Goodwill | 2,790 | 2,755 | 2,387 | |||||||||
| Other assets | 1,047 | 1,054 | 1,212 | |||||||||
| Total other long-term assets | 3,837 | 3,809 | 3,599 | |||||||||
| 33,070 | 33,567 | 29,903 | ||||||||||
| LIABILITIES AND STOCKHOLDERS' INVESTMENT | ||||||||||||
| CURRENT LIABILITIES | ||||||||||||
| Current portion of long-term debt | 1 | 251 | 417 | |||||||||
| Accrued salaries and employee benefits | 1,277 | 1,688 | 1,635 | |||||||||
| Accounts payable | 1,971 | 1,879 | 1,613 | |||||||||
| Accrued expenses | 2,063 | 1,932 | 1,709 | |||||||||
| Total current liabilities | 5,312 | 5,750 | 5,374 | |||||||||
| LONG-TERM DEBT, LESS CURRENT PORTION | 4,736 | 2,739 | 1,250 | |||||||||
| OTHER LONG-TERM LIABILITIES | ||||||||||||
| Deferred income taxes | 2,114 | 1,652 | 836 | |||||||||
| Pension, postretirement healthcare and other benefit obligations | 3,484 | 3,916 | 5,582 | |||||||||
| Self-insurance accruals | 1,038 | 987 | 963 | |||||||||
| Deferred lease obligations | 758 | 778 | 784 | |||||||||
| Deffered gains, principally related to aircraft transactions | 206 | 227 | 251 | |||||||||
| Other liabilities | 145 | 120 | 136 | |||||||||
| Total other long-term liabilities | 7,745 | 7,680 | 8,552 | |||||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||||||
| COMMON STOCKHOLDERS' INVESTMENT | ||||||||||||
| Common stock, $0.10 par value, 800 million shares authorized 318 million shares issued as of May 31, 2014, 2013, and 2012 | 32 | 32 | 32 | |||||||||
| Additional paid-in capital | 2,643 | 2,668 | 2,595 | |||||||||
| Retained earnings | 20,429 | 18,519 | 17,134 | |||||||||
| Accumulated other comprehensive loss | -3,694 | -3,820 | -4,953 | |||||||||
| Treasury stock, at cost | -4,133 | -1 | -81 | |||||||||
| Total common stockholders' investment | 15,277 | 17,398 | 14,727 | |||||||||
| 33,070 | 33,567 | 29,903 | ||||||||||
Given the provided information, the following ratios are needed:
- Current Ratio
- Quick Ratio
- Debt to total assets ratio
- Debt to equity ratio
- Long-term debt to equity ratio
- Time interest earned ratio
- Inventory turnover
- Fixed assets turnover
- Total assets turnover
- Accounts receivable turnover
- Average collection period
- Gross profit margin
- Operating profit margin
- Net profit margin
- Return on total assets (ROA)
- Return on stockholders' equity (ROE)
- Earnings per share (EPS)
- Price earnings ratio
Please show work on how the answers come to be. Thanks in advance!
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