Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Compare GAAP and non-GAAP Measures FedEx Corporation reported the following in its 2016 earnings release. Dollars in millions, except EPS Non-GAAP measure Mark-to-market pension accounting

image text in transcribed

Compare GAAP and non-GAAP Measures FedEx Corporation reported the following in its 2016 earnings release. Dollars in millions, except EPS Non-GAAP measure Mark-to-market pension accounting adjustments TNT expenses and operating results Tax impact-corporate restructuring for TNT integration FedEx Ground legal matters FedEx Trade Networks legal matter GAAP measure Net income Diluted EPS $3,571 $10.80 (891) (3.39) (132) (0.45) 76 0.27 (158) (43) $2,423 (0.57) (0.15) $6.51 What amount did FedEx report as net income on its 2016 income statement? $ 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Accounting questions

Question

What does stickiest refer to in regard to social media

Answered: 1 week ago