Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started