	2009 5/31/09	2008 5/31/08	2007 5/31/07	2006 5/31/06
ASSETS
Cash & Short Term Investments	2,292	1,539	1,569	1,937
Receivables - Net	3,391	4,359	3,942	3,516
Inventories - Total	367	435	338	308
Prepaid Expenses	--	--	--	--
Other Current Assets	1,066	911	780	703
CURRENT ASSETS - TOTAL	7,116	7,244	6,629	6,464
Machinery & Equipment	14,863	14,817	13,202	11,888
Transportation Equipment	3,061	2,734	2,541	2,169
Other Property, Plant & Equipment	6,677	6,379	6,211	5,205
Property, Plant, & Equipment under Capitalized Leases	379	335	451	481
Property, Plant and Equipment - Gross	29,260	29,305	27,090	24,074
Accumulated Depreciation	(15,843)	(15,827)	(14,454)	(13,304)
Property, Plant and Equipment - Net	13,417	13,478	12,636	10,770
Deferred Charges	311	827	0	1,349
Other Tangible Assets	1,053	730	471	621
Total Intangible Other Assets - Net	2,347	3,354	4,264	3,486
Other Assets - Total	3,711	4,911	5,641	6,374
TOTAL ASSETS	24,244	25,633	24,000	22,690
LIABILITIES
Accounts Payable	1,372	2,195	2,016	1,908
Short Term Debt & Current Portion of Long Term Debt	653	502	639	850
Accrued Payroll	861	1,118	1,354	1,325
Income Taxes Payable	338	--	310	305
Other Current Liabilities	1,300	1,553	1,109	1,085
CURRENT LIABILITIES - TOTAL	4,524	5,368	5,428	5,473
Capitalized Lease Obligations	141	207	205	210
Long Term Debt	1,930	1,506	2,007	1,592
Provision for Risks and Charges	934	989	1,164	944
Deferred Income	1,091	986	343	373
Deferred Taxes - Credit	1,071	1,264	1,803	2,285
Deferred Taxes - Debit	0	--	906	918
DEFERRED TAXES	1,071	1,264	897	1,367
Other Liabilities	1,068	994	1,505	1,430
TOTAL LIABILITIES	10,618	11,107	11,344	11,179
EQUITY
Non-Equity Reserves	--	0	0	0
Minority Interest	0	0	0	0
Preferred Stock	0	0	0	0
Common Stock	31	31	31	31
Capital Surplus	2,053	1,922	1,689	1,468
Other Appropriated Reserves	(1,317)	(592)	(961)	(97)
Retained Earnings	12,919	13,002	11,970	10,068
Unrealized Foreign Exchange Gain/Loss	(56)	167	(69)	43
Treasury Stock	(4)	(4)	(4)	(2)
COMMON EQUITY	13,626	14,526	12,656	11,511
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY	24,244	25,633	24,000	22,690
SHARE INFORMATION
Common Shares Outstanding	312	311	308	306

	2010 Q1 8/31/09	2009 Q4 5/31/09	2009 Q3 2/28/09	2009 Q2 11/30/08	2009 Q1 8/31/08
ASSETS
Cash & Short Term Investments	1,789	2,292	2,673	1,542	1,573
Receivables - Net	3,410	3,391	3,520	4,103	4,361
Inventories - Total	372	367	370	405	412
Prepaid Expenses	--	--	--	--	--
Other Current Assets	817	1,066	810	784	828
CURRENT ASSETS - TOTAL	6,388	7,116	7,373	6,834	7,174
Property, Plant and Equipment - Gross	29,484	29,260	29,356	29,007	28,710
Accumulated Depreciation	(15,946)	(15,843)	(15,737)	(15,397)	(15,177)
Property, Plant and Equipment - Net	13,538	13,417	13,619	13,610	13,533
Total Intangible Other Assets - Net	2,233	2,347	4,311	4,192	4,126
Other Assets - Total	3,931	3,711	6,014	5,940	5,436
TOTAL ASSETS	23,857	24,244	27,006	26,384	26,143
LIABILITIES
Accounts Payable	1,311	1,372	1,392	1,878	2,050
Short Term Debt & Current Portion of Long Term Debt	158	653	1,089	1,089	1,001
Income Taxes Payable	--	338	--	--	--
Other Current Liabilities	2,417	2,161	2,412	2,556	2,468
CURRENT LIABILITIES - TOTAL	3,886	4,524	4,893	5,523	5,519
Capitalized Lease Obligations	164	141	249	250	249
Long Term Debt	1,918	1,930	1,918	918	1,007
Deferred Taxes - Credit	1,132	1,071	1,522	1,511	1,484
DEFERRED TAXES	1,132	1,071	1,522	1,511	1,484
Other Liabilities	3,135	3,093	3,122	2,951	2,993
TOTAL LIABILITIES	10,071	10,618	11,455	10,903	11,003
EQUITY
Non-Equity Reserves	0	--	0	0	0
Minority Interest	0	0	0	0	0
Preferred Stock	0	0	0	0	0
Common Stock	31	31	31	31	31
Capital Surplus	2,091	2,053	2,001	1,979	1,954
Retained Earnings	13,031	12,919	13,795	13,733	13,274
Unrealized Foreign Exchange Gain/Loss	--	(56)	--	--	--
Treasury Stock	(4)	(4)	(4)	(4)	(4)
COMMON EQUITY	13,786	13,626	15,551	15,481	15,140
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY	23,857	24,244	27,006	26,384	26,143
SHARE INFORMATION
Common Shares Outstanding	313	312	311	311	311

() = Negative Values
Values are displayed in Millions except for earnings per share and where noted

FDX : NYSE