 |
selected financial data
The following table sets forth selected financial data for each of the five years in the period ended December 31, 2000. This financial data should be read in conjunction with our Consolidated Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and other financial data appearing elsewhere in this report.
Selected Income Statement Data
|
|
|
Years ended December 31, |
| (In millions except share amounts) |
|
2000 |
|
|
1999 |
|
|
1998 |
|
1997 |
|
1996 |
|
|
| Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. domestic package |
$ |
24,002 |
|
$ |
22,313 |
|
$ |
20,650 |
$ |
18,868 |
$ |
18,881 |
|
|
International package |
|
4,166 |
|
|
3,730 |
|
|
3,399 |
|
3,067 |
|
3,074 |
|
|
Non-package |
|
1,603 |
|
|
1,009 |
|
|
739 |
|
523 |
|
413 |
|
|
| Total revenue |
|
29,771 |
|
|
27,052 |
|
|
24,788 |
|
22,458 |
|
22,368 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits |
|
16,546 |
|
|
15,285 |
|
|
14,346 |
|
13,289 |
|
13,326 |
|
|
Other |
|
8,713 |
|
|
7,862 |
|
|
7,439 |
|
7,526 |
|
7,092 |
|
|
| Total operating expenses |
|
25,259 |
|
|
23,147 |
|
|
21,785 |
|
20,815 |
|
20,418 |
|
| Operating profit (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. domestic package |
|
3,929 |
|
|
3,506 |
|
|
2,815 |
|
1,623 |
|
2,150 |
|
|
International package |
|
274 |
|
|
232 |
|
|
29 |
|
(106) |
|
(302) |
|
|
Non-package |
|
309 |
|
|
167 |
|
|
159 |
|
126 |
|
102 |
|
|
| Total operating profit |
|
4,512 |
|
|
3,905 |
|
|
3,003 |
|
1,643 |
|
1,950 |
|
| Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income |
|
527 |
|
|
197 |
|
|
126 |
|
97 |
|
55 |
|
|
Interest expense |
|
(205) |
|
|
(228) |
|
|
(227) |
|
(187) |
|
(95) |
|
|
Tax assessment |
|
– |
|
|
(1,786) |
|
|
– |
|
– |
|
– |
|
|
| Income before income taxes |
|
4,834 |
|
|
2,088 |
|
|
2,902 |
|
1,553 |
|
1,910 |
|
| Income taxes |
|
1,900 |
|
|
1,205 |
|
|
1,161 |
|
644 |
|
764 |
|
|
| Net income |
$ |
2,934 |
|
$ |
883 |
|
$ |
1,741 |
$ |
909 |
$ |
1,146 |
|
|
| Per share amounts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share |
$ |
2.54 |
|
$ |
0.79 |
|
$ |
1.59 |
$ |
0.82 |
$ |
1.03 |
|
|
Diluted earnings per share |
$ |
2.50 |
|
$ |
0.77 |
|
$ |
1.57 |
$ |
0.81 |
$ |
1.01 |
|
|
Dividends declared per share |
$ |
0.68 |
|
$ |
0.58 |
|
$ |
0.43 |
$ |
0.35 |
$ |
0.34 |
|
| Weighted average shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
1,153 |
|
|
1,121 |
|
|
1,093 |
|
1,103 |
|
1,114 |
|
|
Diluted |
|
1,175 |
|
|
1,141 |
|
|
1,108 |
|
1,116 |
|
1,129 |
|
| As Adjusted Net Income Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income before impact of
non-recurring items |
$ |
2,795 |
(1) |
$ |
2,325 |
(2) |
$ |
1,741 |
$ |
909 |
$ |
1,146 |
|
|
As a percentage of revenue |
|
9.4% |
|
|
8.6% |
|
|
7.0% |
|
4.0% |
|
5.1% |
|
|
Basic earnings per share |
$ |
2.42 |
|
$ |
2.07 |
|
$ |
1.59 |
$ |
0.82 |
$ |
1.03 |
|
|
Diluted earnings per share |
$ |
2.38 |
|
$ |
2.04 |
|
$ |
1.57 |
$ |
0.81 |
$ |
1.01 |
|
| Selected Balance Sheet Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
|
| (in millions) |
|
2000 |
|
|
1999 |
|
|
1998 |
|
1997 |
|
1996 |
|
|
| Working capital |
$ |
2,623 |
|
$ |
5,994 |
|
$ |
1,355 |
$ |
734 |
$ |
1,027 |
|
| Long-term debt |
$ |
2,981 |
|
$ |
1,912 |
|
$ |
2,191 |
$ |
2,583 |
$ |
2,573 |
|
| Total assets |
$ |
21,662 |
|
$ |
23,028 |
|
$ |
17,067 |
$ |
15,912 |
$ |
14,954 |
|
| Shareowners’ equity |
$ |
9,735 |
|
$ |
12,474 |
|
$ |
7,173 |
$ |
6,087 |
$ |
5,901 |
|
(1) Excludes $139 million in net income related primarily to investment gains.
(2) Excludes a $1.442 billion tax assessment charge.
See notes to consolidated financial statements. |
|
|
