Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - FEDERAL EXPRESS CORP | Financial_Report.xls |
| 10-Q - FORM 10-Q - FEDERAL EXPRESS CORP | d455463d10q.htm |
| EX-32.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - FEDERAL EXPRESS CORP | d455463dex322.htm |
| EX-15.1 - LETTER RE: UNAUDITED INTERIM FINANCIAL STATEMENTS - FEDERAL EXPRESS CORP | d455463dex151.htm |
| EX-32.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - FEDERAL EXPRESS CORP | d455463dex321.htm |
| EX-31.2 - CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER - FEDERAL EXPRESS CORP | d455463dex312.htm |
| EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER - FEDERAL EXPRESS CORP | d455463dex311.htm |
EXHIBIT 12.1
FEDERAL EXPRESS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
(IN MILLIONS, EXCEPT RATIOS)
| Six Months Ended November 30, |
Year Ended May 31, | |||||||||||||||||||||||||||
| 2012 | 2011 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
| Earnings: |
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| Income before income taxes |
$ | 410 | $ | 621 | $ | 1,237 | $ | 1,140 | $ | 1,059 | $ | 732 | $ | 1,846 | ||||||||||||||
| Add back: |
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| Interest expense, net of capitalized interest |
— | — | — | — | — | 4 | 19 | |||||||||||||||||||||
| Portion of rent expense representative of interest factor |
282 | 301 | 566 | 611 | 572 | 576 | 587 | |||||||||||||||||||||
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| Earnings as adjusted |
$ | 692 | $ | 922 | $ | 1,803 | $ | 1,751 | $ | 1,631 | $ | 1,312 | $ | 2,452 | ||||||||||||||
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| Fixed Charges: |
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| Interest expense, net of capitalized interest |
$ | — | $ | — | $ | — | $ | — | $ | — | $ | 4 | $ | 19 | ||||||||||||||
| Capitalized interest |
29 | 45 | 80 | 61 | 65 | 58 | 46 | |||||||||||||||||||||
| Portion of rent expense representative of interest factor |
282 | 301 | 566 | 611 | 572 | 576 | 587 | |||||||||||||||||||||
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| $ | 311 | $ | 346 | $ | 646 | $ | 672 | $ | 637 | $ | 638 | $ | 652 | |||||||||||||||
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| Ratio of Earnings to Fixed Charges |
2.2 | 2.7 | 2.8 | 2.6 | 2.6 | 2.1 | 3.8 | |||||||||||||||||||||
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