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Compare GAAP and non-GAAP Measures FedEx Corporation reported the following in its 2016 earnings release. Dollars in millions, except EPS Net income Diluted EPS Non-GAAP

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Compare GAAP and non-GAAP Measures FedEx Corporation reported the following in its 2016 earnings release. Dollars in millions, except EPS Net income Diluted EPS Non-GAAP measure $3,238 $10.80 Mark-to-market pension accounting adjustments (917) (3.39) TNT expenses and operating results (129) (0.45) Tax impact-corporate restructuring for TNT integration 76 0.27 FedEx Ground legal matters (158) (0.57) FedEx Trade Networks legal matter (43) (0.15) GAAP measure $2,067 $6.51 What amount did FedEx report as net income on its 2016 income statement? $ 2,182 x million The company's average equity was $14,389 million in 2016. Compute its return on equity using (i) the GAAP net income, and (ii) the non-GAAP net income. Round answers to one decimal place (ex: 0.2345 = 23.5%). GAAP Non-GAAP ROE 15.2% X 23.2% X

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