Consolidated Statements of Income (USD $) In Millions, except Per Share data	12 Months Ended
May 31, 2011	May 31, 2010	May 31, 2009
Consolidated Statements of Income
REVENUES	$ 39,304	$ 34,734	$ 35,497
OPERATING EXPENSES:
Salaries and employee benefits	15,276	14,027	13,767
Purchased transportation	5,674	4,728	4,534
Rentals and landing fees	2,462	2,359	2,429
Depreciation and amortization	1,973	1,958	1,975
Fuel	4,151	3,106	3,811
Maintenance and repairs	1,979	1,715	1,898
Impairment and other charges	89	18	1,204
Other	5,322	4,825	5,132
OPERATING EXPENSES	36,926	32,736	34,750
OPERATING INCOME	2,378	1,998	747
OTHER INCOME (EXPENSE):
Interest expense	(86)	(79)	(85)
Interest income	9	8	26
Other, net	(36)	(33)	(11)
OTHER INCOME (EXPENSE)	(113)	(104)	(70)
INCOME BEFORE INCOME TAXES	2,265	1,894	677
PROVISION FOR INCOME TAXES	813	710	579
NET INCOME	$ 1,452	$ 1,184	$ 98
EARNINGS PER COMMON SHARE
Basic	$ 4.61	$ 3.78	$ 0.31
Diluted	$ 4.57	$ 3.76	$ 0.31

Costs incurred related to the purchase of services (air, road and rail) from third-party transportation providers and independent contractors in direct support of shipping and logistics services.

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The amount of net income or loss for the period per each share of common stock outstanding during the reporting period.

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The amount of net income or loss for the period per each share of common stock and dilutive common stock equivalents outstanding during the reporting period.

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Fuel costs incurred that are directly related to goods produced and sold and services rendered during the reporting period.

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The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations.

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The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

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Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.

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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.

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The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).

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Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.

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The net result for the period of deducting operating expenses from operating revenues.

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The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation.

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The net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines.

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The aggregate amount provided for estimated restructuring charges, remediation costs, and asset impairment loss during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items).

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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.

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