Summary of Quarterly Operating Results (Unaudited) (Tables)

12 Months Ended

May 31, 2012

Quarterly Operating Results (Tables) [Abstract]

Summary of Quarterly Operating Results (Unaudited)

		First		Second		Third		Fourth
(in millions, except per share amounts)		Quarter		Quarter		Quarter		Quarter
2012(1)
Revenues		$	10,521	$	10,587	$	10,564	$	11,008
Operating income			737		780		813		856
Net income			464		497		521		550
Basic earnings per common share(2)			1.46		1.57		1.66		1.74
Diluted earnings per common share			1.46		1.57		1.65		1.73
2011(3)
Revenues		$	9,457	$	9,632	$	9,663	$	10,552
Operating income			628		469		393		888
Net income			380		283		231		558
Basic earnings per common share(2)			1.21		0.90		0.73		1.76
Diluted earnings per common share			1.20		0.89		0.73		1.75
(1)	The fourth quarter of 2012 includes an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines at FedEx Express. The third quarter of 2012 includes the reversal of a $66 million legal reserve associated with the ATA Airlines lawsuit.
(2)	The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective period.
(3)	The second quarter of 2011 includes a $66 million legal reserve associated with the ATA Airlines lawsuit. Costs related to the combination of our FedEx Freight and FedEx National LTL operations in 2011 were $86 million in the second quarter and $43 million in the third quarter.