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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 Non-GAAP measure Mark-to-market pension accounting
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
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