Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 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 0.27 FedEx Ground legal matters (158) (0.57) FedEx Trade Networks legal matter (43) (0.15) GAAP measure $2,067 $6.51 76 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 to Expert-Tailored 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

Accounting Ethics

Authors: Ronald F. Duska, Brenda Shay Duska, Kenneth Wm. Kury

3rd Edition

1119118786, 9781119118787

More Books

Students also viewed these Accounting questions

Question

Starting from Equation (20.13), show that I, / W j = Err x a j.

Answered: 1 week ago