Exhibit 99.1

FedEx Corporation

Retrospective Adoption of New Accounting Guidance Regarding

Presentation of Comprehensive Income

The information in this exhibit reflects the retrospective adoption of new accounting guidance with respect to certain financial information contained in our Annual Report on Form 10-K for the fiscal year ended May 31, 2012 (the “Annual Report”).

As discussed in our Quarterly Report on Form 10-Q for the quarter ended August 31, 2012, we have adopted the authoritative guidance issued by the Financial Accounting Standards Board on the presentation of comprehensive income. This guidance requires companies to report components of comprehensive income by including comprehensive income on the face of the income statement or in a separate statement of comprehensive income.

Consolidated Statements of Comprehensive Income (Loss)

The following table presents the unaudited Consolidated Statements of Comprehensive Income (Loss) for the fiscal years ended May 31, 2012, 2011, and 2010, and should be read in conjunction with the information in our Annual Report.

FedEx Corporation

Consolidated Statements of Comprehensive Income (Loss)

(Unaudited)

(In Millions)

	Year ended May 31,
	2012			2011			2010
NET INCOME	$	2,032		$	1,452		$	1,184
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustments, net of tax of $26 in 2012, $27 in 2011, and $2 in 2010		(95	)		125			(25	)
Retirements plans adjustments, net of tax of $1,369 in 2012, $141 in 2011, and $617 in 2010		(2,308	)		(235	)		(1,042	)
TOTAL COMPREHENSIVE INCOME (LOSS)	$	(371	)	$	1,342		$	117

Condensed Consolidating Statements of Comprehensive Income (Loss)

The following tables present the unaudited Condensed Consolidating Statements of Comprehensive Income (Loss) of our guarantor subsidiaries and non-guarantor subsidiaries for the fiscal years ended May 31, 2012, 2011, and 2010, and should be read in conjunction with the information in our Annual Report (including note 20 (Condensed Consolidating Financial Statements) to the consolidated financial statements included therein).

FedEx Corporation

Condensed Consolidating Statements of Comprehensive Income (Loss)

(Unaudited)

(In Millions)

Year Ended May 31, 2012

				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
REVENUES	$	—		$	36,412		$	6,569			(301	)	$	42,680
OPERATING EXPENSES:
Salaries and employee benefits		114			14,153			1,832			—			16,099
Purchased transportation		—			4,509			1,944			(118	)		6,335
Rentals and landing fees		5			2,221			267			(6	)		2,487
Depreciation and amortization		1			1,962			150			—			2,113
Fuel		—			4,877			79			—			4,956
Maintenance and repairs		1			1,882			97			—			1,980
Impairment and other charges		—			134			—			—			134
Intercompany charges, net		(218	)		(323	)		541			—			—
Other		97			4,482			988			(177	)		5,390
		—			33,897			5,898			(301	)		39,494
OPERATING INCOME		—			2,515			671			—			3,186
Equity in earnings of subsidiaries		2,032			395			—			(2,427	)		—
Interest, net		(75	)		31			5			—			(39	)
Intercompany charges, net		80			(102	)		22			—			—
Other, net		(5	)		(10	)		9			—			(6	)
INCOME BEFORE INCOME TAXES		2,032			2,829			707			(2,427	)		3,141
Provision for income taxes		—			875			234			—			1,109
NET INCOME	$	2,032		$	1,954		$	473		$	(2,427	)	$	2,032
COMPREHENSIVE INCOME (LOSS)	$	(120	)	$	1,796		$	380		$	(2,427	)	$	(371	)
FedEx Corporation Condensed Consolidating Statements of Comprehensive Income (Unaudited) (In Millions) Year Ended May 31, 2011
				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
REVENUES	$	—		$	33,124		$	6,498			(318	)	$	39,304
OPERATING EXPENSES:
Salaries and employee benefits		109			13,206			1,961			—			15,276
Purchased transportation		—			4,034			1,745			(105	)		5,674
Rentals and landing fees		4			2,209			253			(4	)		2,462
Depreciation and amortization		1			1,784			188			—			1,973
Fuel		—			4,003			148			—			4,151
Maintenance and repairs		1			1,862			116			—			1,979
Impairment and other charges		—			28			61			—			89
Intercompany charges, net		(222	)		(317	)		539			—			—
Other		107			4,392			1,032			(209	)		5,322
		—			31,201			6,043			(318	)		36,926
OPERATING INCOME		—			1,923			455			—			2,378
Equity in earnings of subsidiaries		1,452			200			—			(1,652	)		—
Interest, net		(88	)		13			(2	)		—			(77	)
Intercompany charges, net		104			(135	)		31			—			—
Other, net		(16	)		(14	)		(6	)		—			(36	)
INCOME BEFORE INCOME TAXES		1,452			1,987			478			(1,652	)		2,265
Provision for income taxes		—			677			136			—			813
NET INCOME	$	1,452		$	1,310		$	342		$	(1,652	)	$	1,452
COMPREHENSIVE INCOME	$	1,240		$	1,329		$	425		$	(1,652	)	$	1,342
FedEx Corporation Condensed Consolidating Statements of Comprehensive Income (Unaudited) (In Millions) Year Ended May 31, 2010
				Guarantor			Non-guarantor
	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
REVENUES	$	—		$	29,360		$	5,700			(326	)	$	34,734
OPERATING EXPENSES:
Salaries and employee benefits		91			12,026			1,910			—			14,027
Purchased transportation		—			3,424			1,392			(88	)		4,728
Rentals and landing fees		4			2,118			240			(3	)		2,359
Depreciation and amortization		1			1,751			206			—			1,958
Fuel		—			2,946			160			—			3,106
Maintenance and repairs		1			1,589			125			—			1,715
Impairment and other charges		—			—			18			—			18
Intercompany charges, net		(202	)		(109	)		311			—			—
Other		105			3,950			1,005			(235	)		4,825
		—			27,695			5,367			(326	)		32,736
OPERATING INCOME		—			1,665			333			—			1,998
Equity in earnings of subsidiaries		1,184			161			—			(1,345	)		—
Interest, net		(100	)		41			(12	)		—			(71	)
Intercompany charges, net		114			(147	)		33			—			—
Other, net		(14	)		(18	)		(1	)		—			(33	)
INCOME BEFORE INCOME TAXES		1,184			1,702			353			(1,345	)		1,894
Provision for income taxes		—			625			85			—			710
NET INCOME	$	1,184		$	1,077		$	268		$	(1,345	)	$	1,184
COMPREHENSIVE INCOME	$	276		$	932		$	254		$	(1,345	)	$	117