þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 62-1721435 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
942 South Shady Grove Road | ||
Memphis, Tennessee
(Address of principal executive offices) |
38120
(ZIP Code) |
Large accelerated filer þ | Accelerated filer o |
Non-accelerated filer
o
(Do not check if a smaller reporting company) |
Smaller reporting company o |
Common Stock | Outstanding Shares at December 15, 2008 | |
Common Stock, par value $0.10 per share | 311,291,988 |
PAGE | ||||||||
PART I. FINANCIAL INFORMATION
|
||||||||
|
||||||||
ITEM 1. Financial Statements
|
||||||||
|
||||||||
3-4 | ||||||||
|
||||||||
5 | ||||||||
|
||||||||
6 | ||||||||
|
||||||||
7 | ||||||||
|
||||||||
24 | ||||||||
|
||||||||
25 | ||||||||
|
||||||||
48 | ||||||||
|
||||||||
48 | ||||||||
|
||||||||
|
||||||||
49 | ||||||||
|
||||||||
49 | ||||||||
|
||||||||
49 | ||||||||
|
||||||||
49 | ||||||||
|
||||||||
50 | ||||||||
|
||||||||
E-1 | ||||||||
|
||||||||
Exhibit 10.1 | ||||||||
Exhibit 10.2 | ||||||||
Exhibit 10.3 | ||||||||
Exhibit 10.4 | ||||||||
Exhibit 12.1 | ||||||||
Exhibit 15.1 | ||||||||
Exhibit 31.1 | ||||||||
Exhibit 31.2 | ||||||||
Exhibit 32.1 | ||||||||
Exhibit 32.2 |
-2-
-3-
-4-
-5-
-6-
-7-
-8-
-9-
-10-
-11-
-12-
-13-
-14-
-15-
-16-
-17-
-18-
-19-
-20-
-21-
-22-
-23-
-24-
-25-
-26-
-27-
-28-
-29-
-30-
-31-
-32-
-33-
-34-
-35-
-36-
-37-
-38-
-39-
-40-
-41-
-42-
-43-
-44-
-45-
-46-
-47-
-48-
November 30,
2008
May 31,
(Unaudited)
2008
$
1,542
$
1,539
4,103
4,359
405
435
518
544
266
367
6,834
7,244
29,007
29,305
15,397
15,827
13,610
13,478
3,121
3,165
1,748
827
1,071
919
5,940
4,911
$
26,384
$
25,633
Table of Contents
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN MILLIONS, EXCEPT SHARE DATA)
Table of Contents
Three Months Ended
Six Months Ended
November 30,
November 30,
2008
2007
2008
2007
$
9,538
$
9,451
$
19,508
$
18,650
3,503
3,510
7,088
6,993
1,181
1,178
2,459
2,235
612
611
1,229
1,204
491
482
983
955
1,106
1,018
2,634
1,950
521
519
1,058
1,063
1,340
1,350
2,643
2,653
8,754
8,668
18,094
17,053
784
783
1,414
1,597
(10
)
(15
)
(19
)
(40
)
(3
)
(2
)
(10
)
(15
)
(22
)
(42
)
774
768
1,392
1,555
281
289
515
582
$
493
$
479
$
877
$
973
$
1.59
$
1.55
$
2.82
$
3.15
$
1.58
$
1.54
$
2.81
$
3.12
$
0.11
$
0.10
$
0.33
$
0.20
Table of Contents
Six Months Ended
November 30,
2008
2007
$
877
$
973
983
955
82
62
56
54
75
30
(1
)
(379
)
109
(76
)
(318
)
(314
)
(408
)
(41
)
1,455
1,264
(1,387
)
(1,522
)
30
20
(1,357
)
(1,502
)
(1
)
(515
)
8
50
1
12
(68
)
(62
)
(60
)
(515
)
(35
)
14
3
(739
)
1,539
1,569
$
1,542
$
830
Table of Contents
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
$
23
$
25
$
56
$
54
Table of Contents
2008
2007
1,941,216
2,645,710
$
24.74
$
30.45
2008
2007
5.5 years
5 years
23
%
19
%
3.54
%
4.90
%
0.454
%
0.329
%
Table of Contents
Three Months Ended
2008
2007
$
493
$
479
(132
)
47
(11
)
9
$
350
$
535
Six Months Ended
2008
2007
$
877
$
973
(179
)
63
(22
)
22
$
676
$
1,058
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
$
493
$
479
$
877
$
973
311
309
311
309
1
3
2
3
312
312
313
312
$
1.59
$
1.55
$
2.82
$
3.15
$
1.58
$
1.54
$
2.81
$
3.12
11.5
4.4
10.5
4.3
Three Months Ended
Six Months Ended
2008
2007
2008
2007
$
45
$
78
$
89
$
163
75
34
159
72
15
15
29
31
$
135
$
127
$
277
$
266
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
$
126
$
130
$
251
$
259
201
180
401
360
(266
)
(247
)
(531
)
(493
)
(16
)
15
(32
)
37
$
45
$
78
$
89
$
163
$
7
$
8
$
15
$
17
9
7
17
15
(1
)
(3
)
(1
)
$
15
$
15
$
29
$
31
Table of Contents
FedEx Express (express transportation)
FedEx Trade Networks (global trade services)
FedEx Ground (small-package ground delivery)
FedEx SmartPost (small-parcel consolidator)
FedEx Freight LTL Group:
FedEx Freight (regional LTL freight transportation)
FedEx National LTL (long-haul LTL freight transportation)
FedEx Custom Critical (time-critical transportation)
Caribbean Transportation Services (airfreight forwarding)
FedEx Services (sales, marketing and information technology functions)
FedEx Office (document and business services and package acceptance)
FedEx Customer Information Services (FCIS) (customer service,
billings and collections)
FedEx Global Supply Chain Services (logistics services)
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
$
6,098
$
6,037
$
12,517
$
11,926
1,789
1,698
3,550
3,316
1,200
1,236
2,553
2,469
528
550
1,041
1,075
(77
)
(70
)
(153
)
(136
)
$
9,538
$
9,451
$
19,508
$
18,650
$
540
$
531
$
885
$
1,050
212
173
408
363
32
79
121
184
$
784
$
783
$
1,414
$
1,597
(1)
The normal, ongoing net operating costs of the FedEx Services segment are allocated
back to the transportation segments.
Aircraft-
Aircraft
(1)
Related
(2)
Other
(3)
Total
$
554
$
124
$
231
$
909
922
182
175
1,279
743
27
106
876
93
92
185
44
44
134
134
(1)
In December 2008, we reached an agreement with Boeing to
defer the delivery of the B777F aircraft by up to 17 months. The
revised payment schedule is not reflected in the table above,
but will result in the deferral of approximately $275 million of commitments
from 2009 to future periods.
(2)
Primarily aircraft modifications.
(3)
Primarily vehicles, facilities, and advertising and promotions contracts.
Table of Contents
A300
B757
B777F
(1)
MD11
Total
1
11
1
13
7
4
1
12
6
10
16
3
1
4
1
27
15
2
45
(1)
In December 2008, we reached an agreement with Boeing to defer the
delivery of the B777F aircraft by up to 17 months. The revised
delivery terms are not reflected in the table above and will result
in the delivery of four B777Fs in 2010, four in 2011, five in 2012
and two in 2013.
Operating Leases
Capital
Aircraft and Related
Facilities and
Total Operating
Leases
Equipment
Other
Leases
$
6
$
396
$
644
$
1,040
97
547
1,167
1,714
8
526
1,015
1,541
8
504
883
1,387
119
499
760
1,259
18
2,931
5,468
8,399
256
$
5,403
$
9,937
$
15,340
37
$
219
Table of Contents
Table of Contents
Table of Contents
2008
2007
$
36
$
70
315
567
Table of Contents
(UNAUDITED)
November 30, 2008
Table of Contents
May 31, 2008
Table of Contents
(UNAUDITED)
Three Months Ended November 30, 2008
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
$
7,925
$
1,690
$
(77
)
$
9,538
20
2,880
603
3,503
858
334
(11
)
1,181
1
534
77
612
1
421
69
491
1,027
79
1,106
482
39
521
(49
)
(23
)
72
27
1,077
302
(66
)
1,340
7,256
1,575
(77
)
8,754
669
115
784
493
68
(561
)
(12
)
5
(3
)
(10
)
22
(28
)
6
(10
)
(2
)
12
493
712
130
(561
)
774
243
38
281
$
493
$
469
$
92
$
(561
)
$
493
(UNAUDITED)
Three Months Ended November 30, 2007
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
$
7,788
$
1,773
$
(110
)
$
9,451
24
2,870
616
3,510
862
338
(22
)
1,178
1
532
78
611
1
409
72
482
943
75
1,018
478
41
519
(53
)
(57
)
110
27
1,131
280
(88
)
1,350
7,168
1,610
(110
)
8,668
620
163
783
479
72
(551
)
(12
)
1
(4
)
(15
)
14
(18
)
4
(2
)
1
1
479
676
164
(551
)
768
220
69
289
$
479
$
456
$
95
$
(551
)
$
479
Table of Contents
(UNAUDITED)
Six Months Ended November 30, 2008
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
$
16,171
$
3,485
$
(148
)
$
19,508
44
5,811
1,233
7,088
1,768
712
(21
)
2,459
2
1,069
159
(1
)
1,229
1
842
140
983
2,449
185
2,634
979
79
1,058
(105
)
(49
)
154
58
2,150
561
(126
)
2,643
15,019
3,223
(148
)
18,094
1,152
262
1,414
877
145
(1,022
)
(22
)
10
(7
)
(19
)
36
(52
)
16
(14
)
(2
)
13
(3
)
877
1,253
284
(1,022
)
1,392
419
96
515
$
877
$
834
$
188
$
(1,022
)
$
877
(UNAUDITED)
Six Months Ended November 30, 2007
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
$
15,434
$
3,422
$
(206
)
$
18,650
57
5,726
1,210
6,993
1,638
638
(41
)
2,235
2
1,051
152
(1
)
1,204
1
808
146
955
1,809
141
1,950
984
79
1,063
(106
)
(75
)
181
46
2,231
540
(164
)
2,653
14,172
3,087
(206
)
17,053
1,262
335
1,597
973
146
(1,119
)
(21
)
(12
)
(7
)
(40
)
26
(31
)
5
(5
)
2
1
(2
)
973
1,367
334
(1,119
)
1,555
465
117
582
$
973
$
902
$
217
$
(1,119
)
$
973
Table of Contents
(UNAUDITED)
Six Months Ended November 30, 2008
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
(310
)
$
1,562
$
203
$
$
1,455
(1,261
)
(126
)
(1,387
)
24
6
30
(1,237
)
(120
)
(1,357
)
385
(322
)
(63
)
17
(17
)
(1
)
(1
)
8
8
1
1
(68
)
(68
)
343
(322
)
(81
)
(60
)
(5
)
(30
)
(35
)
33
(2
)
(28
)
3
1,101
166
272
1,539
$
1,134
$
164
$
244
$
$
1,542
(UNAUDITED)
Six Months Ended November 30, 2007
Guarantor
Non-guarantor
Parent
Subsidiaries
Subsidiaries
Eliminations
Consolidated
$
(320
)
$
1,399
$
185
$
$
1,264
(1,370
)
(152
)
(1,522
)
13
7
20
(1,357
)
(145
)
(1,502
)
55
(28
)
(27
)
(512
)
(2
)
(1
)
(515
)
50
50
12
12
(62
)
(62
)
(457
)
(30
)
(28
)
(515
)
4
10
14
(777
)
16
22
(739
)
1,212
124
233
1,569
$
435
$
140
$
255
$
$
830
Table of Contents
PUBLIC ACCOUNTING FIRM
FedEx Corporation
/s/ Ernst & Young LLP
December 17, 2008
Table of Contents
Item 2. Managements Discussion and Analysis of Results of Operations and Financial
Condition
the overall customer demand for our various services;
the volumes of transportation services provided through our networks, primarily measured by
our average daily volume and shipment weight;
the mix of services purchased by our customers;
the prices we obtain for our services, primarily measured by yield (average price per
shipment or pound or average price per hundredweight for FedEx Freight LTL Group shipments);
our ability to manage our cost structure (capital expenditures and operating expenses) to
match shifting volume levels; and
the timing and amount of fluctuations in fuel prices and our ability to recover incremental
fuel costs through our fuel surcharges.
Table of Contents
Three Months Ended
Percent
Six Months Ended
Percent
2008
2007
Change
2008
2007
Change
$
9,538
$
9,451
1
$
19,508
$
18,650
5
784
783
1,414
1,597
(11
)
8.2
%
8.3
%
(10
) bp
7.2
%
8.6
%
(140
) bp
$
493
$
479
3
$
877
$
973
(10
)
$
1.58
$
1.54
3
$
2.81
$
3.12
(10
)
Change in
Percent Change in
Change in
Percent Change in
Revenue
Revenue
Operating Income
Operating Income
Three
Six
Three
Six
Three
Six
Three
Six
Months
Months
Months
Months
Months
Months
Months
Months
Ended
Ended
Ended
Ended
Ended
Ended
Ended
Ended
$
61
$
591
1
5
$
9
$
(165
)
2
(16
)
91
234
5
7
39
45
23
12
(36
)
84
(3
)
3
(47
)
(63
)
(59
)
(34
)
(22
)
(34
)
(4
)
(3
)
(7
)
(17
)
NM
NM
$
87
$
858
1
5
$
1
$
(183
)
(11
)
Table of Contents
(1)
Package statistics do not include the operations of FedEx SmartPost.
Table of Contents
Table of Contents
Percent of Revenue
Percent of Revenue
Three
Three
Six
Six
Months
Months
Months
Months
Ended
Ended
Ended
Ended
2008
2007
2008
2007
36.8
%
37.1
%
36.4
%
37.5
%
12.4
12.4
12.6
12.0
6.4
6.5
6.3
6.4
5.1
5.1
5.0
5.1
11.6
10.8
13.5
10.5
5.5
5.5
5.4
5.7
14.0
14.3
13.6
14.2
91.8
91.7
92.8
91.4
8.2
%
8.3
%
7.2
%
8.6
%
Table of Contents
Table of Contents
Table of Contents
FedEx Express (express transportation)
FedEx Trade Networks (global trade services)
FedEx Ground (small-package ground delivery)
FedEx SmartPost (small-parcel consolidator)
FedEx Freight LTL Group:
FedEx Freight (regional LTL freight transportation)
FedEx National LTL (long-haul LTL freight transportation)
FedEx Custom Critical (time-critical transportation)
Caribbean Transportation Services (airfreight forwarding)
FedEx Services (sales, marketing and information technology functions)
FedEx Office (document and business services and package
acceptance)
FedEx Customer Information Services (FCIS) (customer service,
billings and collections)
FedEx Global Supply Chain Services (logistics services)
Table of Contents
Table of Contents
Three Months Ended
Percent
Six Months Ended
Percent
2008
2007
Change
2008
2007
Change
$
1,619
$
1,615
$
3,330
$
3,231
3
486
481
1
1,011
992
2
740
730
1
1,502
1,441
4
2,845
2,826
1
5,843
5,664
3
1,930
1,910
1
3,974
3,731
7
158
174
(9
)
328
329
4,933
4,910
10,145
9,724
4
594
604
(2
)
1,192
1,197
323
312
4
663
604
10
111
96
16
242
190
27
1,028
1,012
2
2,097
1,991
5
137
115
19
275
211
30
6,098
6,037
1
12,517
11,926
5
2,059
2,059
4,188
4,119
2
294
299
(2
)
630
579
9
403
417
(3
)
820
828
(1
)
241
234
3
480
464
3
953
872
9
2,272
1,672
36
381
376
1
775
778
532
536
(1
)
1,065
1,051
1
695
713
(3
)
1,402
1,385
1
5,558
5,506
1
11,632
10,876
7
$
540
$
531
2
$
885
$
1,050
(16
)
8.9
%
8.8
%
10
bp
7.1
%
8.8
%
(170
) bp
(1)
International domestic revenues include our international domestic express
operations, primarily in the United Kingdom, Canada, China and India.
(2)
Other revenues includes FedEx Trade Networks.
Table of Contents
Three Months Ended
Percent
Six Months Ended
Percent
2008
2007
Change
2008
2007
Change
1,086
1,163
(7
)
1,094
1,150
(5
)
611
677
(10
)
621
688
(10
)
832
902
(8
)
830
883
(6
)
2,529
2,742
(8
)
2,545
2,721
(6
)
500
535
(7
)
497
516
(4
)
311
310
309
294
5
3,340
3,587
(7
)
3,351
3,531
(5
)
$
23.66
$
22.06
7
$
23.96
$
21.94
9
12.62
11.27
12
12.84
11.26
14
14.13
12.84
10
14.25
12.76
12
17.86
16.36
9
18.08
16.26
11
61.30
56.63
8
62.93
56.52
11
8.06
8.90
(9
)
8.34
8.75
(5
)
23.44
21.73
8
23.84
21.52
11
7,335
8,915
(18
)
7,315
8,878
(18
)
2,216
2,279
(3
)
2,264
2,150
5
1,605
1,827
(12
)
1,737
1,789
(3
)
11,156
13,021
(14
)
11,316
12,817
(12
)
$
1.29
$
1.08
19
$
1.28
$
1.05
22
2.32
2.17
7
2.31
2.19
5
1.09
0.83
31
1.10
0.83
33
1.46
1.23
19
1.46
1.21
21
(1)
Package and freight statistics include only the operations of FedEx Express.
(2)
International domestic statistics include our international domestic express
operations, primarily in the United Kingdom, Canada, China and India.
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
27.00
%
14.00
%
27.00
%
13.50
%
34.50
16.50
34.50
16.50
29.95
15.00
30.83
14.34
17.00
12.50
17.00
12.00
34.50
16.50
34.50
16.50
24.18
14.91
24.72
14.47
Percent of Revenue
Percent of Revenue
Three
Three
Six
Six
Months
Months
Months
Months
Ended
Ended
Ended
Ended
2008
2007
2008
2007
33.8
%
34.1
%
33.5
%
34.5
%
4.8
5.0
5.0
4.9
6.6
6.9
6.5
7.0
4.0
3.9
3.8
3.9
15.6
14.4
18.2
14.0
6.2
6.2
6.2
6.5
8.7
8.9
8.5
8.8
11.4
11.8
11.2
11.6
91.1
91.2
92.9
91.2
8.9
%
8.8
%
7.1
%
8.8
%
Table of Contents
Three Months Ended
Percent
Six Months Ended
Percent
2008
2007
Change
2008
2007
Change
$
1,789
$
1,698
5
$
3,550
$
3,316
7
279
272
3
546
532
3
745
739
1
1,516
1,391
9
58
50
16
109
93
17
81
77
5
161
150
7
3
4
NM
5
6
NM
37
38
(3
)
74
72
3
180
165
9
358
324
10
194
180
8
373
385
(3
)
1,577
1,525
3
3,142
2,953
6
$
212
$
173
23
$
408
$
363
12
11.9
%
10.2
%
170
bp
11.5
%
10.9
%
60
bp
3,473
3,505
(1
)
3,405
3,356
1
777
672
16
680
603
13
$
7.70
$
7.27
6
$
7.78
$
7.34
6
$
2.07
$
2.12
(2
)
$
2.10
$
2.07
1
(1)
We reclassified certain fuel supplement costs related to our independent contractors
from fuel expense to purchased transportation expense to conform to the current period
presentation.
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
8.25
%
4.75
%
8.25
%
4.50
%
10.50
5.00
10.50
5.00
9.36
4.84
9.40
4.67
Percent of Revenue
Percent of Revenue
Three
Three
Six
Six
Months
Months
Months
Months
Ended
Ended
Ended
Ended
2008
2007
2008
2007
15.6
%
16.0
%
15.4
%
16.0
%
41.6
43.5
42.7
42.0
3.2
3.0
3.1
2.8
4.5
4.6
4.5
4.5
0.2
0.2
0.1
0.2
2.1
2.2
2.1
2.2
10.1
9.7
10.1
9.8
10.8
10.6
10.5
11.6
88.1
89.8
88.5
89.1
11.9
%
10.2
%
11.5
%
10.9
%
Table of Contents
Three Months Ended
Percent
Six Months Ended
Percent
2008
2007
Change
2008
2007
Change
$
1,200
$
1,236
(3
)
$
2,553
$
2,469
3
592
607
(2
)
1,206
1,202
151
147
3
331
277
19
35
29
21
68
57
19
53
58
(9
)
107
115
(7
)
150
141
6
356
271
31
41
45
(9
)
84
92
(9
)
29
20
45
51
41
24
117
110
6
229
230
1,168
1,157
1
2,432
2,285
6
$
32
$
79
(59
)
$
121
$
184
(34
)
2.7
%
6.4
%
(370
) bp
4.7
%
7.5
%
(280
) bp
80.3
81.9
(2
)
81.5
80.6
1
1,122
1,129
(1
)
1,131
1,130
$
19.44
$
19.56
(1
)
$
19.96
$
19.48
2
Table of Contents
Three Months Ended
Six Months Ended
2008
2007
2008
2007
13.10
%
14.90
%
13.10
%
14.50
%
20.70
17.30
23.90
19.70
18.00
16.10
20.50
16.60
Percent of Revenue
Percent of Revenue
Three
Three
Six
Six
Months
Months
Months
Months
Ended
Ended
Ended
Ended
2008
2007
2008
2007
49.3
%
49.1
%
47.2
%
48.7
%
12.6
11.9
13.0
11.2
2.9
2.4
2.7
2.3
4.4
4.7
4.2
4.6
12.5
11.4
13.9
11.0
3.4
3.6
3.3
3.7
2.4
1.6
2.0
1.7
9.8
8.9
9.0
9.3
97.3
93.6
95.3
92.5
2.7
%
6.4
%
4.7
%
7.5
%
Table of Contents
2008
2007
$
877
$
973
1,196
1,101
(618
)
(810
)
1,455
1,264
(1,357
)
(1,502
)
(1,357
)
(1,502
)
(1
)
(515
)
(68
)
(62
)
8
50
1
12
(60
)
(515
)
(35
)
14
$
3
$
(739
)
Table of Contents
Percent Change
2008/2007
Three Months Ended
Six Months Ended
Three Months
Six Months
2008
2007
2008
2007
Ended
Ended
$
286
$
175
$
526
$
471
63
12
242
257
395
425
(6
)
(7
)
73
109
141
189
(33
)
(25
)
98
144
231
308
(32
)
(25
)
51
62
94
129
(18
)
(27
)
$
750
$
747
$
1,387
$
1,522
(9
)
$
421
$
367
$
754
$
824
15
(8
)
215
155
350
288
39
22
56
106
156
181
(47
)
(14
)
58
119
127
229
(51
)
(45
)
$
750
$
747
$
1,387
$
1,522
(9
)
Table of Contents
Table of Contents
Payments Due by Fiscal Year
(in millions)
2009
(1)
2010
2011
2012
2013
Thereafter
Total
$
1,040
$
1,714
$
1,541
$
1,387
$
1,259
$
8,399
$
15,340
176
169
106
92
44
134
721
55
79
65
47
20
1,534
1,800
678
1,104
770
93
2,645
60
6
66
500
500
250
300
238
1,788
6
97
8
8
119
18
256
$
2,515
$
3,669
$
2,740
$
1,627
$
1,742
$
10,323
$
22,616
(1)
Cash obligations for the remainder of 2009.
(2)
In December 2008, we reached an agreement with Boeing to defer the delivery of the
B777F aircraft by up to 17 months. The revised payment schedule is not reflected
in the table above, but will result in the deferral of approximately $275 million of
commitments from 2009 to future periods.
Table of Contents
Table of Contents
economic conditions in the global markets in which we operate;
the impact of any international conflicts or terrorist activities on the United States and
global economies in general, the transportation industry or us in particular, and what effects
these events will have on our costs or the demand for our services;
damage to our reputation or loss of brand equity;
disruptions to the Internet or our technology infrastructure, including those impacting our
computer systems and Web site, which can adversely affect shipment levels;
the price and availability of jet and vehicle fuel;
the impact of intense competition on our ability to maintain or increase our prices
(including our fuel surcharges in response to rising fuel costs) or to maintain or grow our
market share;
our ability to manage our cost structure for capital expenditures and operating expenses,
and match it to shifting and future customer volume levels;
our ability to effectively operate, integrate, leverage and grow acquired businesses, and
to continue to support the value we allocate to these acquired businesses, including their
goodwill;
any impacts on our businesses resulting from new domestic or international government laws
and regulation, including regulatory actions affecting global aviation rights, increased air
cargo and other security requirements, and tax, accounting, trade, labor (such as card check
legislation), environmental (such as climate change legislation) or postal rules;
changes in foreign currency exchange rates, especially in the euro, Chinese yuan, Canadian
dollar, British pound and Japanese yen, which can affect our sales levels and foreign currency
sales prices;
the impact of costs related to (i) challenges to the status of FedEx Grounds
owner-operators as independent contractors, rather than employees, and (ii) any related
changes to our relationship with these owner-operators;
any liability resulting from and the costs of defending against class-action litigation,
such as wage-and-hour and discrimination and retaliation claims, patent litigation, and any
other legal proceedings;
our ability to maintain good relationships with our employees and prevent attempts by labor
organizations to organize groups of our employees, which could significantly increase our
operating costs and reduce our operational flexibility;
a shortage of qualified labor and our ability to mitigate this shortage through recruiting
and retention efforts and productivity gains;
increasing costs, the volatility of costs and legal mandates for employee benefits,
especially pension and healthcare benefits;
significant changes in the volumes of shipments transported through our networks, customer
demand for our various services or the prices we obtain for our services;
Table of Contents
market acceptance of our new service and growth initiatives;
the impact of technology developments on our operations and on demand for our services;
adverse weather conditions or natural disasters, such as earthquakes and hurricanes, which
can damage our property, disrupt our operations, increase fuel costs and adversely affect
shipment levels;
widespread outbreak of an illness or any other communicable disease, or any other public
health crisis;
availability of financing on terms acceptable to us and our ability to maintain our current
credit ratings, especially given the capital intensity of our operations and the current
volatility of credit markets; and
other risks and uncertainties you can find in our press releases and SEC filings, including
the risk factors identified under the heading Risk Factors in Managements Discussion and
Analysis of Results of Operations and Financial Condition in our Annual Report, as updated by
our quarterly reports on Form 10-Q.
Table of Contents
Table of Contents
-49-
Exhibit
Number
Description of Exhibit
Letter Agreement dated October 23, 2008 and Amendment dated October 23, 2008, each amending
the Transportation Agreement dated July 31, 2006 between the United States Postal Service and
Federal Express Corporation. Confidential treatment has been requested for confidential
commercial and financial information, pursuant to Rule 24b-2 under the Securities Exchange Act
of 1934, as amended.
FedEx Corporations Amended and Restated Retirement Plan for Outside Directors.
Supplemental Agreement No. 2 dated as of July 14, 2008 to the Boeing 777 Freighter Purchase
Agreement dated as of November 7, 2006 between The Boeing Company and Federal Express
Corporation.
Supplemental Agreement No. 3 dated as of December 15, 2008 (and related side letters) to the
Boeing 777 Freighter Purchase Agreement dated as of November 7, 2006 between The Boeing Company and Federal Express Corporation.
Confidential treatment has been requested for confidential commercial and financial information, pursuant to Rule 24b-2 under
the Securities Exchange Act of 1934, as amended.
Computation of Ratio of Earnings to Fixed Charges.
Letter re: Unaudited Interim Financial Statements.
Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under
the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under
the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Table of Contents
-50-
FEDEX CORPORATION
Date: December 19, 2008
/s/ JOHN L. MERINO
JOHN L. MERINO
CORPORATE VICE PRESIDENT
PRINCIPAL ACCOUNTING OFFICER
Table of Contents
E-1
Exhibit
Number
Description of Exhibit
Letter Agreement dated October 23, 2008 and Amendment dated October 23, 2008, each amending
the Transportation Agreement dated July 31, 2006 between the United States Postal Service and
Federal Express Corporation. Confidential treatment has been requested for confidential
commercial and financial information, pursuant to Rule 24b-2 under the Securities Exchange Act
of 1934, as amended.
FedEx Corporations Amended and Restated Retirement Plan for Outside Directors.
Supplemental Agreement No. 2 dated as of July 14, 2008 to the Boeing 777 Freighter Purchase
Agreement dated as of November 7, 2006 between The Boeing Company and Federal Express
Corporation.
Supplemental Agreement No. 3
dated as of December 15, 2008 (and related side letters) to the
Boeing 777 Freighter Purchase Agreement dated as of November 7,
2006 between The Boeing Company and Federal Express Corporation. Confidential treatment has been requested for confidential
commercial and financial information, pursuant to Rule 24b-2 under the Securities Exchange Act
of 1934, as amended.
Computation of Ratio of Earnings to Fixed Charges.
Letter re: Unaudited Interim Financial Statements.
Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under
the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under
the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
RE: | Transportation Agreement dated July 31, 2006 (the Transportation Agreement) between the United States Postal Service (the USPS) and Federal Express Corporation (FedEx) Change in Conversion Factor |
* | Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |
/s/ PAUL HERRON
|
||||
Paul Herron | ||||
Vice President | ||||
Postal Transportation Management |
THE UNITED STATES POSTAL SERVICE
|
|||
By: | /s/ LESLIE A. GRIFFITH | ||
Its: |
Manager, Air Transportation CMC,
Contracting Officer The USPS |
||
cc: |
Melissa Mortimer
Donna Jewett |
THE UNITED STATES POSTAL SERVICE
|
||||
By: | /s/ LESLIE A. GRIFFITH | |||
Title: Manager, Air Transportation CMC, | ||||
Contracting Officer | ||||
FEDERAL EXPRESS CORPORATION
|
||||
By: | /s/ PAUL J. HERRON | |||
Title: VP, Postal Transportation Management | ||||
ULD Type | AMJ | LD3 | ||||
Amount of containers
|
[ * ] | [ * ] | ||||
Charge per ULD
|
[ * ] | [ * ] | ||||
Total Charge per ULD type
|
[ * ] | [ * ] | ||||
Total Charge
|
[ * ] |
* | Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |
Years of Service | Duration of | |||
as an Outside Director | Pension Payments in Years | |||
1-10
|
10 | |||
11
|
11 | |||
12
|
12 | |||
13
|
13 | |||
14
|
14 | |||
15 or more
|
15 |
Years of Service | Percentage | |||
1
|
10 | % | ||
2
|
20 | % | ||
3
|
30 | % | ||
4
|
40 | % | ||
5
|
50 | % | ||
6
|
60 | % | ||
7
|
70 | % | ||
8
|
80 | % | ||
9
|
90 | % | ||
10 or more
|
100 | % |
Estrin,
Judith L.
|
10 | |||
Greer, Philip
|
15 | + | ||
Hyde, J.R., III
|
15 | + | ||
Smith,
Joshua I.
|
9 | |||
Walsh, Paul
S.
|
2 | |||
Willmott,
Peter S.
|
15 |
2
3
4
1. | In order to reschedule the one Aircraft scheduled for delivery in December 2009 to September 2009, Table 1 to the Purchase Agreement is hereby deleted and replaced with a new Table 1 which is attached hereto. |
2. | As a result of rescheduling the December 2009 Aircraft to September 2009 an advance payment in the amount of $12,531,300.00 is due at the signing of this Supplemental Agreement. |
Supplemental Agreement 2 to
Purchase Agreement No. 3157 |
page 2 |
3. | In order to accommodate Customers request that the six (6) month payment for the December 2009 Aircraft on June 1, 2009, not change, notwithstanding the fact the delivery has accelerated to September 2009, the Parties agree to the following; |
A) | The six (6) month prior to delivery payment for the September 2009 Aircraft will be due on June 1, 2009, instead of the standard date of March 2, 2009. | ||
B) | The nine (9) month prior to delivery payment for one of the June 2010 Aircraft will be due on June 1, 2009 instead of the standard date of September 1, 2009. |
THE BOEING COMPANY | FEDERAL EXPRESS CORPORATION | |||||||||
|
||||||||||
By:
|
/s/ R.C. Nelson
|
By: |
/s/ Phillip C. Blum
|
|||||||
|
Its: Attorney-In-Fact |
Its: Vice President
Aircraft Acquisitions/SAO |
Airframe Model/MTOW:
|
777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust:
|
GE90-110B1L | 110000 pounds | ||||||
Airframe Price:
|
$ | 231,629,000 | ||||||
Optional Features:
|
$ | 3,235,800 | ||||||
|
||||||||
Sub-Total of Airframe and Features:
|
$ | 234,864,800 | ||||||
Engine Price (Per Aircraft):
|
$ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE):
|
$ | 234,864,800 | ||||||
|
||||||||
Buyer Furnished Equipment (BFE) Estimate:
|
$ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate:
|
$ | 0 | ||||||
|
||||||||
Refundable Deposit/Aircraft at Proposal Accept:
|
$ | 230,000 |
Detail Specification:
|
D019W007-NEW (7/24/2006) | |||||||
Airframe Price Base Year/Escalation Formula:
|
Jul-06 | ECI-MFG/CPI | ||||||
Engine Price Base Year/Escalation Formula:
|
N/A | N/A | ||||||
Airframe Escalation Data:
|
||||||||
Base Year Index (ECI):
|
180.3 | |||||||
Base Year Index (CPI):
|
195.4 |
Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Jul-2009
|
1 | 1.0845 | $ | 254,711,000 | $ | 2,317,110 | $ | 10,188,440 | $ | 12,735,550 | $ | 89,148,850 | ||||||||||||||||
Sep-2009
|
1 | 1.0896 | $ | 255,909,000 | $ | 2,329,090 | $ | 10,236,360 | $ | 12,795,450 | $ | 89,568,150 | ||||||||||||||||
Oct-2009
|
1 | 1.0918 | $ | 256,425,000 | $ | 2,334,250 | $ | 10,257,000 | $ | 12,821,250 | $ | 89,748,750 | ||||||||||||||||
Nov-2009
|
1 | 1.0939 | $ | 256,919,000 | $ | 2,339,190 | $ | 10,276,760 | $ | 12,845,950 | $ | 89,921,650 | ||||||||||||||||
Jun-2010
|
2 | 1.1136 | $ | 261,545,000 | $ | 2,385,450 | $ | 10,461,800 | $ | 13,077,250 | $ | 91,540,750 | ||||||||||||||||
Jul-2010
|
1 | 1.1158 | $ | 262,062,000 | $ | 2,390,620 | $ | 10,482,480 | $ | 13,103,100 | $ | 91,721,700 | ||||||||||||||||
Aug-2010
|
1 | 1.1189 | $ | 262,790,000 | $ | 2,397,900 | $ | 10,511,600 | $ | 13,139,500 | $ | 91,976,500 | ||||||||||||||||
Sep-2010
|
1 | 1.121 | $ | 263,283,000 | $ | 2,402,830 | $ | 10,531,320 | $ | 13,164,150 | $ | 92,149,050 | ||||||||||||||||
Oct-2010
|
1 | 1.1231 | $ | 263,777,000 | $ | 2,407,770 | $ | 10,551,080 | $ | 13,188,850 | $ | 92,321,950 | ||||||||||||||||
Nov-2010
|
1 | 1.125 | $ | 264,223,000 | $ | 2,412,230 | $ | 10,568,920 | $ | 13,211,150 | $ | 92,478,050 | ||||||||||||||||
Dec-2010
|
1 | 1.1281 | $ | 264,951,000 | $ | 2,419,510 | $ | 10,598,040 | $ | 13,247,550 | $ | 92,732,850 | ||||||||||||||||
Jan-2011
|
1 | 1.1314 | $ | 265,726,000 | $ | 2,427,260 | $ | 10,629,040 | $ | 13,286,300 | $ | 93,004,100 | ||||||||||||||||
Feb-2011
|
1 | 1.1348 | $ | 266,525,000 | $ | 2,435,250 | $ | 10,661,000 | $ | 13,326,250 | $ | 93,283,750 | ||||||||||||||||
Jun-2011
|
1 | 1.1456 | $ | 269,061,000 | $ | 2,460,610 | $ | 10,762,440 | $ | 13,453,050 | $ | 94,171,350 |
Supplemental Agreement #2
Page 1 |
Airframe Model/MTOW:
|
777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust:
|
GE90-110B1L | 110000 pounds | ||||||
Airframe Price:
|
$ | 231,629,000 | ||||||
Optional Features:
|
$ | 3,235,800 | ||||||
|
||||||||
Sub-Total of Airframe and Features:
|
$ | 234,864,800 | ||||||
Engine Price (Per Aircraft):
|
$ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE):
|
$ | 234,864,800 | ||||||
|
||||||||
Buyer Furnished Equipment (BFE) Estimate:
|
$ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate:
|
$ | 0 | ||||||
Non-Refundable Deposit/Aircraft at Def Agreement:
|
$ | 1,925,000 |
Detail Specification:
|
D019W007-NEW (7/24/2006) | |||||||
Airframe Price Base Year/Escalation
Formula:
|
Jul-06 | ECI-MFG/CPI | ||||||
Engine Price Base Year/Escalation Formula:
|
N/A | N/A | ||||||
|
||||||||
Airframe Escalation Data:
|
||||||||
Base Year Index (ECI):
|
180.3 | |||||||
Base Year Index (CPI):
|
195.4 |
Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Aug-2011
|
2 | 1.1509 | $ | 270,306,000 | $ | 778,060 | $ | 10,812,240 | $ | 13,515,300 | $ | 94,607,100 | ||||||||||||||||
Nov-2011
|
2 | 1.1578 | $ | 271,926,000 | $ | 794,260 | $ | 10,877,040 | $ | 13,596,300 | $ | 95,174,100 | ||||||||||||||||
Feb-2012
|
1 | 1.168 | $ | 274,322,000 | $ | 818,220 | $ | 10,972,880 | $ | 13,716,100 | $ | 96,012,700 | ||||||||||||||||
May-2012
|
1 | 1.1766 | $ | 276,342,000 | $ | 838,420 | $ | 11,053,680 | $ | 13,817,100 | $ | 96,719,700 | ||||||||||||||||
Aug-2012
|
1 | 1.1847 | $ | 278,244,000 | $ | 857,440 | $ | 11,129,760 | $ | 13,912,200 | $ | 97,385,400 | ||||||||||||||||
Nov-2012
|
2 | 1.1914 | $ | 279,818,000 | $ | 873,180 | $ | 11,192,720 | $ | 13,990,900 | $ | 97,936,300 | ||||||||||||||||
Feb-2013
|
1 | 1.2034 | $ | 282,636,000 | $ | 901,360 | $ | 11,305,440 | $ | 14,131,800 | $ | 98,922,600 | ||||||||||||||||
May-2013
|
1 | 1.2117 | $ | 284,586,000 | $ | 920,860 | $ | 11,383,440 | $ | 14,229,300 | $ | 99,605,100 | ||||||||||||||||
Aug-2013
|
2 | 1.2197 | $ | 286,465,000 | $ | 939,650 | $ | 11,458,600 | $ | 14,323,250 | $ | 100,262,750 | ||||||||||||||||
Nov-2013
|
1 | 1.2268 | $ | 288,132,000 | $ | 956,320 | $ | 11,525,280 | $ | 14,406,600 | $ | 100,846,200 | ||||||||||||||||
Feb-2014
|
1 | 1.238 | $ | 290,763,000 | $ | 982,630 | $ | 11,630,520 | $ | 14,538,150 | $ | 101,767,050 |
Supplemental Agreement #1
Page 2 |
Attention:
|
Mr. Kevin Burkhart | |
|
Managing Director Aircraft Acquisitions & Sales | |
|
||
Subject:
|
Revised Payment Schedule for certain Boeing Model 777-FREIGHTER Aircraft (Firm Aircraft only) | |
|
||
Reference:
|
Supplemental Agreement No. 3 to Purchase Agreement 3157, dated November 7, 2006, between The Boeing Company (Boeing) and Federal Express Corporation (Customer) relating to Model 777-FREIGHTER Aircraft (the Aircraft) |
Sincerely,
|
||
|
||
THE BOEING COMPANY
|
FEDERAL EXPRESS CORPORATION | |
|
||
By: /s/ Richard R. Ochs
|
By: /s/ Phillip C. Blum
|
|
Its: Attorney-In-Fact
|
Its: Vice President Aircraft Acquisitions/SAO |
* | Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |
Attention:
|
Mr. Kevin Burkhart | |
|
Managing Director Aircraft Acquisitions & Sales | |
|
||
Subject:
|
Confirmation of Delivery months for certain Boeing Model 777-FREIGHTER Aircraft | |
|
||
Reference:
|
a) Purchase Agreement 3157, dated November 7, 2006, between The
Boeing Company (Boeing) and Federal Express Corporation
(Customer) relating to Model 777-FREIGHTER Aircraft (the
Aircraft)
|
|
|
||
|
b) Boeing Model 777-FREIGHTER Aircraft with Manufacture Serial
Numbers (MSN); 37721, 37724 and 37722
|
Aircraft | Post-Strike Delivery Month | |
MSN 37721 | September 2009 | |
MSN 37724 | November 2009 | |
MSN 37722 | December 2009 |
THE BOEING COMPANY
|
||
|
||
/s/ Richard R. Ochs
|
||
Richard R. Ochs
|
||
Regional Director
|
||
Aircraft Contracts
|
||
Boeing Commercial Airplanes
|
Attention:
|
Mr. Kevin Burkhart | |
|
Managing Director Aircraft Acquisitions & Sales | |
|
||
Subject:
|
August 2012 Option Aircraft Extension of Option Exercise Date | |
|
||
Reference:
|
a) Purchase Agreement 3157 between The Boeing Company (Boeing)
and Federal Express Corporation (Customer), dated November 7,
2006, relating to Model 777-FREIGHTER Aircraft (the Aircraft)
|
|
|
||
|
b) Letter Agreement 6-1162-RCN-1789 Option Aircraft between
The Boeing Company (Boeing) and Federal Express Corporation (Customer), dated
November 7, 2006, relating to Model 777-FREIGHTER Aircraft (the Aircraft)
|
THE BOEING COMPANY
|
||
|
||
/s/ Richard R. Ochs
|
||
Richard R. Ochs
|
||
Regional Director
|
||
Aircraft Contracts
|
||
Boeing Commercial Airplanes
|
S3-1
1. | Remove and replace, in its entirety, the Table of Contents with the Table of Contents attached hereto to reflect the changes made by this Supplemental Agreement No. 3. |
2. | In order to incorporate into the Aircraft the features selected by Customer, Exhibit A to the Purchase Agreement is hereby deleted and replaced with a new Exhibit A which is attached hereto. |
3. | In order to reschedule all Firm Aircraft, except for the July 2009, September 2009, October 2009, July 2010 and August 2010 Aircraft, and to incorporate into the Aircraft Basic Price the price of the features selected by Customer (paragraph 2 above); Table 1 to the Purchase Agreement is hereby deleted and replaced with a new Table 1 which is attached hereto. Boeing hereby agrees to waive charges for the Aircraft rescheduling herein. |
4. | In order to reschedule all Option Aircraft and to incorporate into Option Aircraft Basic Price the price of the features selected by Customer (paragraph 2 above); the attachment to Letter No. 6-1162-RCN-1789 is hereby deleted and replaced with a new attachment to Letter No. 6-1162-RCN-1789 which is attached hereto. Boeing hereby agrees to waive charges for the Option Aircraft rescheduling herein. For the sake of clarity, the parties acknowledge that Customer has not exercised any options under Letter No. 6-1162-RCN-1789 as of the date of this Supplemental Agreement. |
5. | Customer agrees that Boeing will retain $94,020,710 of pre-paid advance payments that result from the matters set forth in paragraphs 2 and 3. Such amount will continue to be treated under the Purchase Agreement as advance payments, except that Boeing will apply such amount, in whole or in part, to future advance payment(s) by Customer becoming due under the Purchase Agreement subsequent to the date of this Supplemental Agreement, as directed by Customer. |
THE BOEING COMPANY
|
FEDERAL EXPRESS CORPORATION | |||
|
||||
By: /s/ Richard R. Ochs
|
By: /s/ Phillip C. Blum | |||
|
|
S3-2
P.A. No. 3157 | SA 3 |
P.A. No. 3157 | SA 3 |
SUPPLEMENTAL AGREEMENTS | DATED AS OF: | |||
|
||||
Supplemental Agreement No. 1
|
May 12, 2008 | |||
|
||||
Supplemental Agreement No. 2
|
July 14, 2008 | |||
|
||||
Supplemental Agreement No. 3
|
December 15, 2008 |
P.A. No. 3157 | SA 3 |
Exhibit A to
Purchase Agreement No. 3157 |
2006$ | ||||||
15 A/PS | ||||||
Price | ||||||
CR | Title | Per A/C | ||||
0110-000039 |
MAJOR MODEL 777 AIRPLANE
|
[ * ] | ||||
0110B750A90 |
MINOR MODEL 777 FREIGHTER AIRPLANE
|
[ * ] | ||||
0220-000040 |
FAA TYPE CERTIFICATION
|
[ * ] | ||||
0221-000002 |
DISPATCH WITH GEAR EXTENDED FOR REVENUE FLIGHT
|
[ * ] | ||||
0221B401A44 |
ENGINE INOPERATIVE TEN MINUTE TAKEOFF THRUST OPERATION
|
[ * ] | ||||
0228-000032 |
OPERATIONS MANUAL IN FAA FORMAT
|
[ * ] | ||||
0228C417D40 |
AIRPLANE FLIGHT MANUAL
|
[ * ] | ||||
0229C608D26 |
PERFORMANCE CERTIFICATION FOR OPERATION AT AIRPORTS WITH PRESSURE ALTITUDES UP TO
9800 FEET AND AUTOPILOT CAPABILITY AT AIRPORTS WITH A MAXIMUM FIELD ELEVATION OF
8,500 FEET
|
[ * ] | ||||
0252B299A35 |
INSTRUMENTATION, AIRPLANE AND FUEL MEASURING STICK MANUALS IN ENGLISH UNITS
TEMPERATURE IN DEGREES CELSIUS
|
[ * ] | ||||
0315C417D42 |
CERTIFIED
OPERATIONAL WEIGHTS AND STRUCTURAL DESIGN WEIGHT 777 FREIGHTER
|
[ * ] | ||||
1110C874H30 |
EXTERIOR COLOR SCHEME AND MARKINGS ENGINE NACELLES COLOR
|
[ * ] | ||||
1110C874H32 |
EXTERIOR COLOR SCHEME AND MARKINGS
|
[ * ] | ||||
1137C703A41 |
CARGO MARKINGS FORWARD CARGO COMPARTMENT
|
[ * ] | ||||
1138C703A42 |
CARGO MARKINGS AFT CARGO COMPARTMENT
|
[ * ] | ||||
1139C703A40 |
CARGO MARKINGS MAIN DECK CARGO COMPARTMENT
|
[ * ] | ||||
2210-000003 |
AUTOFLIGHT INHIBIT GLIDE SLOPE CAPTURE PRIOR TO LOCALIZER CAPTURE
|
[ * ] | ||||
2210-000030 |
AUTOFLIGHT THREE DIGIT MACH NUMBER ON MODE CONTROL PANEL
|
[ * ] | ||||
2210-000036 |
AUTOFLIGHT HEADING HOLD AT AUTOPILOT COMMAND ENGAGE
|
[ * ] | ||||
2210C594A11 |
AUTOFLIGHT ENABLE LNAV ENGAGEMENT ON TAKEOFF GO-AROUND
|
[ * ] | ||||
2311-000137 |
HF COMMUNICATIONS PARTIAL PROVISIONS FOR DUAL ARINC 753 HF DATALINK
|
[ * ] | ||||
2311B401A30 |
HF COMMUNICATIONS ARINC 753 DUAL HF TRANSCEIVERS AIRPLANE INFORMATION MANAGEMENT
SYSTEM (AIMS) HF DATALINK ACTIVATION AIRLINE OPERATIONAL COMMUNICATIONS ONLY
|
[ * ] | ||||
2311B401A39 |
HF COMMUNICATIONS EQUIPMENT INSTALLATION OF DUAL ROCKWELL HF VOICE/DATA
TRANSCEIVERS P/N 822-0990-004 AND DIGITAL HF COUPLERS P/N 822-0987-004
BFE/SPE
|
[ * ] | ||||
2312-000703 |
VHF COMMUNICATIONS ACTIVATION OF 8.33 KHZ CHANNEL SPACING
|
[ * ] | ||||
2312B401A87 |
VHF COMMUNICATIONS EQUIPMENT INSTALLATION OF TRIPLE ROCKWELL ARINC 750 VHF-2100
TRANSCEIVERS WITH 8.33 KHZ CHANNEL SPACING, VDL MODE 2, AND CMC INTERFACE CAPABILITY
P/N 822-1287-101 BFE/SPE
|
[ * ] | ||||
2315C581A25 |
SATCOM AVIONICS EQUIPMENT INSTALLATION ARINC 781 AERO-H+ AND SWIFTBROADBAND
THALES TOPFLIGHT SERIES BFE/SPE
|
[ * ] | ||||
2315C988A06 |
SATCOM ANTENNA EQUIPMENT INSTALLATION ARINC 781 COMPACT HIGH GAIN ANTENNA -
CHELTON HGA-7001 ANTENNA SYSTEM WITH TYPE F DIPLEXER FREIGHTER
BFE/SPE
|
[ * ] | ||||
2321-000050 |
SELCAL AVTECH FIVE CHANNEL DECODER P/N 1200008-000 BFE/SPE
|
[ * ] | ||||
2322C926A04 |
AIRCRAFT COMMUNICATIONS ADDRESSING AND REPORTING SYSTEM (ACARS) AIRPLANE
INFORMATION MANAGEMENT SYSTEM (AIMS) ACTIVATION VHF DATALINK MODE 2
|
[ * ] | ||||
2324C164C74 |
EMERGENCY LOCATOR TRANSMITTER FIXED/AUTOMATIC INSTALLATION ELTA P/N 01N65900
BFE
|
[ * ] | ||||
2351-000033 |
HAND HELD MICROPHONE CAPTAIN AND FIRST OFFICER ELECTROVOICE P/N 903-1342
BFE/SPE
|
[ * ] | ||||
2351-000035 |
HAND HELD MICROPHONE FIRST OBSERVER ELECTROVOICE P/N 903-1342 BFE/SPE
|
[ * ] | ||||
2351-000042 |
CONTROL WHEEL PUSH TO TALK (PTT) SWITCH STANDARD THREE POSITION
|
[ * ] | ||||
2351-000044 |
AUDIO CONTROL PANEL SECOND OBSERVER
|
[ * ] | ||||
2351A213B78 |
BOOM MICROPHONE HEADSETS CAPTAIN, FIRST OFFICER AND FIRST OBSERVER TELEX AIRMAN
750 P/N 64300-200 BFE/SPE
|
[ * ] | ||||
2351A213B79 |
BOOM MICROPHONE HEADSET SECOND OBSERVER TELEX AIRMAN 750 P/N 64300-200
BFE/SPE
|
[ * ] | ||||
2371-000092 |
SOLID STATE VOICE RECORDER ED56A P/N 980-6022-001 AND SOLID STATE REMOTE AREA
MICROPHONE P/N 980-6115-001 & CONTROL PANEL ED56A P/N
980-6117-004 HONEYWELL 2
HOUR RECORDING TIME. BFE/SPE
|
[ * ] | ||||
2431-000013 |
NO BATTERY POWERED POSITION LIGHTS AND DC BACKUP POWER TOWING OPERATION
|
[ * ] | ||||
2454C608E40 |
AC POWER OUTLETS INSTALLATION IN FLIGHT DECK BY THE SECOND OBSERVERS SEAT UK
STYLE OUTLET WITH IN-SEAT POWER SUPPLY (ISPS) ASTRONICS 110 VAC
|
[ * ] |
Supplemental Agreement No. 3 | Page 1 of 5 |
Exhibit A to
Purchase Agreement No. 3157 |
2006$ | ||||||
15 A/PS | ||||||
Price | ||||||
CR | Title | Per A/C | ||||
2454C896A15 |
POWER OUTLETS INSTALLATION ADDITIONAL ELECTRICAL POWER SUPPLIES NEAR THE
SUPERNUMERARY SEATS FOR THE USE OF PERSONAL COMPUTERS ASTRONICS 110 VAC
|
[ * ] | ||||
2513A552A92 |
FLIGHT COMPARTMENT ASHTRAYS DO NOT INSTALL
|
[ * ] | ||||
2513B299A22 |
MISCELLANEOUS STOWAGE PILOT CONSOLES FLIGHT DECK
|
[ * ] | ||||
2519C898D77 |
CURTAIN INSTALLATION ACOUSTIC AND LIGHT IMPROVEMENT FLIGHT DECK
|
[ * ] | ||||
2524C204D42 |
FULL HEIGHT STOWAGE UNIT FLOOR MOUNTED AFT OF THE LAVATORY
|
[ * ] | ||||
2524C204D43 |
MID HEIGHT STOWAGE UNIT FLOOR MOUNTED
|
[ * ] | ||||
2524C204D44 |
OVERHEAD STOWAGE UNIT CEILING MOUNTED
|
[ * ] | ||||
2527C204G19 |
FLOOR COVERING INSTALLATION VINYL MAT THROUGHOUT THE SUPERNUMERARY AREA
|
[ * ] | ||||
2530C874E37 |
GALLEY INSERTS SUPERNUMERARY COMPARTMENT
|
[ * ] | ||||
2530C896A10 |
GALLEY SUPERNUMERARY COMPARTMENT
|
[ * ] | ||||
2552-000059 |
CARGO COMPARTMENT FULL FLOOR AFT LOWER HOLD CARGO COMPARTMENT
|
[ * ] | ||||
2552-000083 |
CARGO COMPARTMENT FULL FLOOR FORWARD CARGO COMPARTMENT
|
[ * ] | ||||
2552-000318 |
SLOPING SIDEWALL FORWARD CARGO COMPARTMENT 0.050-INCH-THICK BMS 8-223
|
[ * ] | ||||
2552-000319 |
SLOPING SIDEWALL AFT CARGO COMPARTMENT 0.050-INCH-THICK BMS 8-223
|
[ * ] | ||||
2557C703A39 |
MAIN DECK CARGO HANDLING PAINTED NON-SKID WALKWAYS
|
[ * ] | ||||
2558C703A34 |
MAIN DECK CARGO RESTRAINTS REMOVE CENTERLINE LOADING HARDWARE- SFE
|
[ * ] | ||||
2558C703A36 |
MAIN DECK CARGO RESTRAINTS CIVIL RESERVE AIR FLEET (CRAF) CONFIGURATION
PROVISIONS
|
[ * ] | ||||
2558C703A54 |
MAIN DECK CARGO RESTRAINTS ADDITIONAL CAPABILITY FOR 14 AYY CONTAINERS
|
[ * ] | ||||
2560-000207 |
HALON FIRE EXTINGUISHER FLIGHT DECK WALTER KIDDE
|
[ * ] | ||||
2560C204E95 |
PROTECTIVE BREATHING EQUIPMENT FLIGHT DECK AVOX
|
[ * ] | ||||
2560C204E99 |
CREW LIFE VESTS FLIGHT DECK, WITH SECOND OBSERVER AIR CRUISERS
|
[ * ] | ||||
2562C204F36 |
LIFE VESTS SUPERNUMERARY AIR CRUISERS
|
[ * ] | ||||
2562C874H27 |
EMERGENCY LOCATOR TRANSMITTER PORTABLE
|
[ * ] | ||||
2564C204F02 |
PROTECTIVE BREATHING EQUIPMENT SUPERNUMERARY AVOX
|
[ * ] | ||||
2564C204G43 |
FIRST AID KIT FAA
|
[ * ] | ||||
2564C874E39 |
PORTABLE OXYGEN BOTTLE W/ FULL FACE MASK AVOX SYSTEMS INC BFE
|
[ * ] | ||||
2564C874E40 |
HALON FIRE EXTINGUISHER AMEREX BFE
|
[ * ] | ||||
2564C874G77 |
FLASHLIGHT DELETION SUPERNUMERARY
|
[ * ] | ||||
2564C874G78 |
PORTABLE OXYGEN W/MASK AVOX SYSTEMS INC BFE/SPE
|
[ * ] | ||||
2564C874H48 |
POLAR KIT STORAGE
|
[ * ] | ||||
2622-000017 |
ENGINE/APU FIRE EXTINGUISHER BOTTLES COMMON BOTTLE
|
[ * ] | ||||
2625C896A09 |
FIRE EXTINGUISHING TUBING AND DISCONNECTS FOR MAIN DECK SAX CONTAINERS
|
[ * ] | ||||
2821-000010 |
REFUELING ADAPTERS RIGHT WING
|
[ * ] | ||||
2911-000003 |
AC MOTOR-DRIVEN HYDRAULIC PUMPS EATON (VICKERS) S270T201-7
|
[ * ] | ||||
2911-000025 |
ENGINE-DRIVEN HYDRAULIC PUMPS EATON (VICKERS) S271W110
|
[ * ] | ||||
3131-000187 |
DIGITAL FLIGHT DATA RECORDER ALLIEDSIGNAL 256 WORDS PER SECOND MAXIMUM DATA RATE
P/N 980-4700-042 BFE/SPE
|
[ * ] | ||||
3133B628B13 |
FLIGHT COMPARTMENT PRINTER GRAPHICS CAPABLE (ARINC 744A) MULTIPORT THERMAL PRINTER
WITH ARINC 429 AND ETHERNET PORTS INSTALLATION
|
[ * ] | ||||
3135C174A06 |
QUICK ACCESS RECORDER (QAR) PENNY AND GILES WITH PCMCIA CARD P/N D52000-64000
BFE/SPE
|
[ * ] | ||||
3143-000013 |
AIMS AIRPLANE MODIFIABLE (AMI) SOFTWARE INSTALLATION AFTER DELIVERY AND BEFORE
FLYAWAY
|
[ * ] | ||||
3143A068A03 |
DUAL ELECTRONIC CHECKLIST DATABASE
|
[ * ] | ||||
3143A207D22 |
AIMS SOFTWARE ACTIVATION DISABLE ENTRY OF GROSS WEIGHT ON PERF INIT PAGE
|
[ * ] | ||||
3143C926A05 |
AIRPLANE INFORMATION MANAGEMENT SYSTEM (AIMS) OPERATIONAL PROGRAM CONFIGURATION
FILE ACTIVATION FLIGHT INFORMATION DATALINK COMMUNICATIONS MENU ARINC 623 AIR
TRAFFIC SERVICE MESSAGES
|
[ * ] | ||||
3143C926A06 |
AIRPLANE INFORMATION MANAGEMENT SYSTEM (AIMS) OPERATIONAL PROGRAM CONFIGURATION
FILE ACTIVATION MAINTENANCE ENHANCEMENT PACKAGE
|
[ * ] | ||||
3150A213A18 |
AURAL ADVISORY OF ALTITUDE APPROACH FLIGHT DECK
|
[ * ] | ||||
3151-000042 |
FIREBELL AURAL WARNING 1 SECOND ON, 9 SECONDS OFF
|
[ * ] |
Supplemental Agreement No. 3 | Page 2 of 5 |
Exhibit A to
Purchase Agreement No. 3157 |
2006$ | ||||||
15 A/PS | ||||||
Price | ||||||
CR | Title | Per A/C | ||||
3151-000046 |
AUTOPILOT DISCONNECT AURAL WARNING SIREN AURAL WARNING AND MASTER WARNING LIGHT
INHIBITED WHEN AUTOPILOT DISCONNECT SWITCH IS DOUBLE PRESSED QUICKLY
|
[ * ] | ||||
3151A065A47 |
RESETTABLE OVERSPEED AURAL WARNING SIREN
|
[ * ] | ||||
3151A552C02 |
TAKEOFF CONFIGURATION CHECK SWITCH FORWARD AISLE STAND PANEL
|
[ * ] | ||||
3151C175A07 |
FLIGHT MANAGEMENT COMPUTER (FMC) CAUTION AND WARNING SYSTEMS ACTIVATION
TAKEOFF RUNWAY DISAGREE ALERT
|
[ * ] | ||||
3161-000002 |
DOOR SYNOPTIC AND EICAS MESSAGE PASSENGER DOOR SLIDE/RAFT ARMING HANDLE POSITION
INDICATION AUTO, MANUAL AND AUTO/MANUAL MESSAGES
|
[ * ] | ||||
3161-000167 |
ANNUNCIATION FOR LOSS OF RIGHT OR LEFT FMCS EICAS ADVISORY MESSAGE
|
[ * ] | ||||
3161-000168 |
FLIGHT DECK COMMUNICATIONS FUNCTION (FDCF) AUTOMATIC RESET ACTIVATION
|
[ * ] | ||||
3161-000169 |
ANNUNCIATION FOR SATELLITE VOICE COMMUNICATION CAPABILITY EICAS
|
[ * ] | ||||
3161-000170 |
ANNUNCIATION FOR DATALINK AVAILABILITY EICAS
|
[ * ] | ||||
3161A425A45 |
VMO/MMO OVERSPEED EICAS STATUS MESSAGE AND VFE OVERSPEED EICAS STATUS MESSAGE WITH
FLAP/SLAT POSITION SNAPSHOT FLIGHT DECK
|
[ * ] | ||||
3162-000022 |
FLIGHT DIRECTOR COMMAND DISPLAY SPLIT AXIS ADI
|
[ * ] | ||||
3162-000030 |
RISING RUNWAY DISPLAYED ON THE ADI
|
[ * ] | ||||
3162-000036 |
LANDING ALTITUDE REFERENCE BAR PRIMARY FLIGHT DISPLAY
|
[ * ] | ||||
3162-000040 |
BARO MINIMUMS POINTER DISPLAYED ON SELECTION OF RADIO ALTITUDE MINMUMS PRIMARY
FLIGHT DISPLAY
|
[ * ] | ||||
3162-000044 |
TCAS RESOLUTION ADVISORY VSI
|
[ * ] | ||||
3162-000051 |
ILS LOCALIZER DEVIATION EXPANDED SCALE AUTOPILOT OR FLIGHT DIRECTOR MODE
|
[ * ] | ||||
3162-000060 |
MAP MODE ORIENTATION HEADING UP NAVIGATION DISPLAY
|
[ * ] | ||||
3162-000062 |
GRID HEADING NAVIGATION DISPLAY
|
[ * ] | ||||
3162-000064 |
RANGE ARCS NAVIGATION DISPLAY
|
[ * ] | ||||
3162-000084 |
TCAS 3 NM RANGE RING NAVIGATION DISPLAY
|
[ * ] | ||||
3162-000211 |
VREF AND SELECTED FLAP POSITION PRIMARY FLIGHT DISPLAY
|
[ * ] | ||||
3162-000218 |
GROUND SPEED DISPLAYED BELOW AIRSPEED TAPE WHEN MACH NUMBER IS NOT DISPLAYED
PRIMARY FLIGHT DISPLAY
|
[ * ] | ||||
3162C594A07 |
NAVIGATION PERFORMANCE SCALES (NPS) AND REQUIRED NAVIGATION PERFORMANCE (RNP)
ENHANCEMENTS AIRPLANE INFORMATION MANAGEMENT SYSTEM (AIMS) PRIMARY FLIGHT
DISPLAY AND NAVIGATION DISPLAY
|
[ * ] | ||||
3162C594A22 |
PRIMARY FLIGHT DISPLAY AIMS VNAV SPEED BAND ENABLE
|
[ * ] | ||||
3245B047A08 |
BRAKES
CARBON HIGH CAPACITY MESSIER BUGATTI
|
[ * ] | ||||
3245B047A09 |
WHEELS AND TIRES MAIN LANDING GEAR HIGH GROSS WEIGHT WHEELS MESSIER BUGATTI
INSTALLATION WITH SFE 36 PR, 235 MPH RADIAL TIRES.
|
[ * ] | ||||
3245B047A10 |
WHEELS AND TIRES NOSE LANDING GEAR WHEELS MESSIER BUGATTI INSTALLATION WITH
SFE 32 PR, 235 MPH RADIAL TIRES
|
[ * ] | ||||
3324C198A28 |
PASSENGER INFORMATION SIGNS NO SMOKING SIGN PERMANENT ILLUMINATION AND NO
SMOKING FLIGHT DECK SELECTOR SWITCH REMOVAL
|
[ * ] | ||||
3430B721B13 |
ILS/GPS MULTI-MODE RECEIVER (MMR) GNSS LANDING SYSTEM (GLS) PARTIAL PROVISIONS
FOR GLS CAT I OPERATIONS
|
[ * ] | ||||
3430B866A33 |
ILS/GPS MULTI-MODE RECEIVER (MMR) ROCKWELL COLLINS P/N 822-1821-001 BFE/SPE
|
[ * ] | ||||
3433-000032 |
RADIO ALTIMETER (RA) ROCKWELL INTERNATIONAL CORP P/N 822-0334-002 - BFE/SPE
|
[ * ] | ||||
3436C896A17 |
HEAD-UP
DISPLAY (HUD) SPACE AND PARTIAL WIRING PROVISIONS FOR COMMON
HUD SYSTEM
INSTALLATION WITH CONTROL DISPLAY UNIT INTERFACE
|
[ * ] | ||||
3436C896A18 |
ENHANCED VISION SYSTEM (EVS) SPACE AND PARTIAL WIRING PROVISIONS WITH A COMMON HUD
SYSTEM PROVISIONS
|
[ * ] | ||||
3436C896A19 |
FEDEX HEAD UP DISPLAY (HUD) SYSTEM EXPANDED WIRING, MOUNTING AND COOLING
PROVISIONS FOR HUD COMPUTER AND ENHANCED FLIGHT VISION SYSTEM (EFVS) COMPUTER
|
[ * ] | ||||
3443C739A02 |
DUAL WEATHER RADAR SYSTEM HONEYWELL INTERNATIONAL INC. MODEL RDR-4000 WEATHER
RADAR INSTALLATION BFE/SPE
|
[ * ] | ||||
3443C739A03 |
DUAL WEATHER RADAR CONTROL PANEL RDR-4000 RADAR SYSTEM HONEYWELL P/N
930-6101-001 BFE/SPE
|
[ * ] | ||||
3445C594A55 |
TCAS SYSTEM ACSS TCAS COMPUTER P/N 9003500-10901 TCAS CHANGE 7 COMPLIANT
BFE/SPE
|
[ * ] |
Supplemental Agreement No. 3 | Page 3 of 5 |
Exhibit A to
Purchase Agreement No. 3157 |
2006$ | ||||||
15 A/PS | ||||||
Price | ||||||
CR | Title | Per A/C | ||||
3446-000049 |
500 SMART CALLOUT INHIBITED
|
[ * ] | ||||
3446C174A14 |
ENHANCED GROUND PROXIMITY WARNING SYSTEM (EGPWS) BANK ANGLE CALLOUT (VARIABLE
CALLOUT BELOW 130 FT) ENABLE
|
[ * ] | ||||
3446C608F25 |
GROUND PROXIMITY WARNING SYSTEM MODE 6 ALTITUDE CALLOUTS RADIO ALTIMETER AT
1000, 500, 100, 50, 40, 30, 20, 10 ACTIVATION
|
[ * ] | ||||
3451-000022 |
VOR/MARKER BEACON ROCKWELL RECEIVER P/N 822-0297-001 BFE/SPE
|
[ * ] | ||||
3453C608E39 |
AUTOMATIC DEPENDENT SURVEILLANCE BROADCAST (ADS-B) ADS-B GUIDANCE DISPLAY
PARTIAL WIRING PROVISIONS
|
[ * ] | ||||
3453C608E55 |
AUTOMATIC DEPENDENT SURVEILLANCE BROADCAST (ADS-B) CDTI ARINC 429 BUS WIRING
BETWEEN EFB AND TCAS PROCESSOR PARTIAL WIRING PROVISIONS
|
[ * ] | ||||
3453C896A24 |
ATC SYSTEM ACSS ATC TRANSPONDER P/N 7517800-11009 ELS/EHS/ES AND TCAS CHANGE 7
COMPLIANT GABLES CONTROL PANEL P/N G7156-01 BFE/SPE
|
[ * ] | ||||
3453C898E41 |
AIR TRAFFIC CONTROL TRANSPONDER SYSTEM TRAFFIC COLLISION AND AVOIDANCE SYSTEM
(TCAS) AIRPLANE PERSONALITY MODULE WIRING PROVISIONS
|
[ * ] | ||||
3455-000019 |
DISTANCE MEASURING EQUIPMENT (DME) ROCKWELL INTERROGATOR P/N 822-0329-001 BFE/SPE
|
[ * ] | ||||
3457-000214 |
AUTOMATIC DIRECTION FINDER (ADF) DUAL SYSTEM ROCKWELL ADF-900 SERIES ADF
RECEIVER P/N 822-0299-001; ADF ANTENNA P/N 822-5404-003 BFE/SPE
|
[ * ] | ||||
3461A031A07 |
TAKE OFF 1 AND 2 DERATE PROMPTS IN FMCS THRUST LIMIT PAGE DELETE
|
[ * ] | ||||
3461A213A09 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) NON-DIRECTIONAL RADIO BEACON (ADF)
APPROACHES
|
[ * ] | ||||
3461A213A10 |
FMCS ENHANCED FIX PAGE CAPABILITIES
|
[ * ] | ||||
3461A213A12 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) DISPLAY OF VERTICAL BEARING, FLIGHT PATH
ANGLE (FPA) AND VERTICAL SPEED
|
[ * ] | ||||
3461A425A05 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) RUNWAY DISTANCE AND OFFSET POSITION SHIFT
IN UNITS OF FEET
|
[ * ] | ||||
3461A425A08 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) FLIGHT CREW ALERTNESS MONITORING ENABLE
|
[ * ] | ||||
3461A425A10 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) NAVIGATION DATABASE CUSTOMER SUPPLIED
|
[ * ] | ||||
3461A425A23 |
FLIGHT MANAGEMENT COMPUTER SYSTEM (FMCS) QUICK REFERENCE HANDBOOK (QRH) TAKEOFF
SPEEDS- DISPLAYED
|
[ * ] | ||||
3461C739A08 |
FMCS PROVIDE REQUIRED NAVIGATION PERFORMANCE (RNP) VALUES WITH 0.3 NM APPROACH
|
[ * ] | ||||
3511-000012 |
REMOTE CREW OXYGEN FILL STATION
|
[ * ] | ||||
3511B873B93 |
CREW OXYGEN MASK FULL FACE MASK WITH BUILT-IN SMOKE GOGGLES SECOND OBSERVER
EROS BFE/SPE
|
[ * ] | ||||
3511B873B94 |
CREW OXYGEN MASK FULL FACE MASK WITH BUILT-IN SMOKE GOGGLES FIRST OBSERVER
EROS BFE/SPE
|
[ * ] | ||||
3511B873B95 |
CREW OXYGEN MASKS FULL FACE MASK WITH BUILT-IN SMOKE GOGGLES CAPTAIN AND FIRST
OFFICER EROS BFE/SPE
|
[ * ] | ||||
3511C874C91 |
SUPPLEMENTAL OXYGEN SYSTEM WITHIN CREW REST AND LAVATORY OF THE SUPERNUMERARY AREA
|
[ * ] | ||||
3520-000197 |
REMOTE PASSENGER OXYGEN FILL STATION
|
[ * ] | ||||
3520C485C02 |
QUICK DONNING OXYGEN MASKS SUPERNUMERARY BFE/SPE
|
[ * ] | ||||
3520C874H46 |
OXYGEN SYSTEM PROVISIONS TO SUPPORT EXTENDED OPERATIONAL CAPABILITY
|
[ * ] | ||||
4610B872A04 |
ELECTRONIC FLIGHT BAG (EFB) INSTALLATION
|
[ * ] | ||||
4610C164A11 |
CUSTOMER UNIQUE ELECTRONIC FLIGHT BAG (EFB) SOFTWARE INSTALLATION AFTER DELIVERY
AND BEFORE FLYAWAY
|
[ * ] | ||||
4610C398C10 |
ELECTRONIC FLIGHT BAG (EFB) CUSTOMER UNIQUE SOFTWARE INSTALLATION CUSTOMER WALK
AND CUSTOMER ACCEPTANCE FLIGHTS
|
[ * ] | ||||
4610C594A09 |
ELECTRONIC FLIGHT BAG (EFB) SYSTEM AIRPLANE INFORMATION MANAGEMENT SYSTEM (AIMS)
ACTIVATION OF ARINC 724B ACARS INTERFACE
|
[ * ] | ||||
4610C608C41 |
ELECTRONIC FLIGHT BAG (EFB) INSTALLATION E- ETHERNET INTERFACE BETWEEN FLIGHT
COMPARTMENT PRINTER AND EFBS RIGHT ELECTRONICS UNIT
|
[ * ] | ||||
4610C608E37 |
AIRPLANE GENERAL INFORMATION SYSTEMS TWO ETHERNET 10/100 BASE-T BUSES BETWEEN MAIN
EQUIPMENT CENTER AND SUPERNUMERARY OVERHEAD STOWAGE COMPARTMENT PARTIAL WIRING
PROVISIONS
|
[ * ] | ||||
4610C896A31 |
AIRPLANE GENERAL INFORMATION SYSTEMS ONBOARD NETWORK SYSTEM (ONS) PARTIAL
PROVISIONS
|
[ * ] | ||||
4610C991B48 |
AIRPLANE GENERAL INFORMATION SYSTEMS ONBOARD NETWORK SYSTEM (ONS) NETWORK
INTERFACE PARTIAL PROVISIONS FLIGHT COMPARTMENT INTERFACE PORT
|
[ * ] |
Supplemental Agreement No. 3 | Page 4 of 5 |
Exhibit A to
Purchase Agreement No. 3157 |
2006$ | ||||||
15 A/PS | ||||||
Price | ||||||
CR | Title | Per A/C | ||||
4900-000016 |
MUFFLER IN APU EXHAUST SYSTEM
|
[ * ] | ||||
5250C896A20 |
LOCKABLE RIGID CARGO BARRIER (RCB) DOORS
|
[ * ] | ||||
7200-000412 |
GE PROPULSION SYSTEM
|
[ * ] | ||||
7200A519A02 |
GENERAL ELECTRIC ENGINES GE90-110B1L THRUST RATING
|
[ * ] | ||||
7430C164D94 |
IGNITION SWITCHING GENERAL ELECTRIC GE90 ENGINES FLIGHT DECK ENGINE CONTROL
PANEL DELETION OF MANUAL SELECTION OF CONTINUOUS IGNITION
|
[ * ] | ||||
7900C483C85 |
LUBRICATING OIL BP2197
|
[ * ] | ||||
|
||||||
OPTIONS: 161 |
TOTALS:
|
[ * ] |
Supplemental Agreement No. 3 | Page 5 of 5 |
* | Blank spaces contained confidential information which has been filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |
Airframe Model/MTOW:
|
777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust:
|
GE90-110B1L | 110100 pounds | ||||||
Airframe Price:
|
$ | 231,629,000 | ||||||
Optional Features:
|
$ | 2,641,800 | ||||||
|
||||||||
Sub-Total of Airframe and Features:
|
$ | 234,270,800 | ||||||
Engine Price (Per Aircraft):
|
$ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE):
|
$ | 234,270,800 | ||||||
|
||||||||
Buyer Furnished Equipment (BFE) Estimate:
|
$ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate:
|
$ | 0 | ||||||
|
||||||||
Refundable Deposit/Aircraft at Proposal Accept:
|
$ | 220,000 | ||||||
|
||||||||
Detail Specification:
|
D019W007FED7F-1-NEW (10/21/2008) | |||||||
Airframe Price Base Year/Escalation Formula:
|
Jul-06 | ECI-MFG/CPI | ||||||
Engine Price Base Year/Escalation Formula:
|
N/A | N/A | ||||||
|
||||||||
Airframe Escalation Data:
|
||||||||
Base Year Index (ECI):
|
180.3 | |||||||
Base Year Index (CPI):
|
195.4 |
Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Jul-2009
|
1 | 1.0845 | $ | 254,067,000 | $ | 2,320,670 | $ | 10,162,680 | $ | 12,703,350 | $ | 88,923,450 | ||||||||||||||||
Sep-2009
|
1 | 1.0896 | $ | 255,261,000 | $ | 2,332,610 | $ | 10,210,440 | $ | 12,763,050 | $ | 89,341,350 | ||||||||||||||||
Oct-2009
|
1 | 1.0918 | $ | 255,777,000 | $ | 2,337,770 | $ | 10,231,080 | $ | 12,788,850 | $ | 89,521,950 | ||||||||||||||||
Feb-2010
|
1 | 1.1037 | $ | 258,565,000 | $ | 2,365,650 | $ | 10,342,600 | $ | 12,928,250 | $ | 90,497,750 | ||||||||||||||||
Jul-2010
|
1 | 1.1158 | $ | 261,399,000 | $ | 2,393,990 | $ | 10,455,960 | $ | 13,069,950 | $ | 91,489,650 | ||||||||||||||||
Aug-2010
|
1 | 1.1189 | $ | 262,126,000 | $ | 2,401,260 | $ | 10,485,040 | $ | 13,106,300 | $ | 91,744,100 | ||||||||||||||||
Sep-2010
|
2 | 1.121 | $ | 262,618,000 | $ | 2,406,180 | $ | 10,504,720 | $ | 13,130,900 | $ | 91,916,300 | ||||||||||||||||
Jun-2011
|
1 | 1.1456 | $ | 268,381,000 | $ | 2,463,810 | $ | 10,735,240 | $ | 13,419,050 | $ | 93,933,350 | ||||||||||||||||
Jul-2011
|
2 | 1.1482 | $ | 268,990,000 | $ | 2,469,900 | $ | 10,759,600 | $ | 13,449,500 | $ | 94,146,500 | ||||||||||||||||
Feb-2012
|
2 | 1.168 | $ | 273,628,000 | $ | 2,516,280 | $ | 10,945,120 | $ | 13,681,400 | $ | 95,769,800 | ||||||||||||||||
Jul-2012
|
2 | 1.1821 | $ | 276,932,000 | $ | 2,549,320 | $ | 11,077,280 | $ | 13,846,600 | $ | 96,926,200 |
FED | Supplemental Agreement No. 3 | |||
Page 1 |
Airframe Model/MTOW:
|
777-Freighter | 766000 pounds | ||||||
Engine Model/Thrust:
|
GE90-110B1L | 110100 pounds | ||||||
Airframe Price:
|
$ | 231,629,000 | ||||||
Optional Features:
|
$ | 2,444,300 | ||||||
|
||||||||
Sub-Total of Airframe and Features:
|
$ | 234,073,300 | ||||||
Engine Price (Per Aircraft):
|
$ | 0 | ||||||
Aircraft Basic Price (Excluding BFE/SPE):
|
$ | 234,073,300 | ||||||
|
||||||||
Buyer Furnished Equipment (BFE) Estimate:
|
$ | 1,950,000 | ||||||
Seller Purchased Equipment (SPE) Estimate:
|
$ | 0 | ||||||
|
||||||||
(1) Non-Refundable Deposit/Aircraft at Def Agreemt:
|
$ | 1,850,000 | ||||||
|
||||||||
Detail Specification:
|
D019W007FED7F-1-NEW (10/21/2008) | |||||||
Airframe Price Base Year/Escalation
Formula:
|
Jul-06 | ECI-MFG/CPI | ||||||
Engine Price Base Year/Escalation Formula:
|
N/A | N/A | ||||||
|
||||||||
Airframe Escalation Data:
|
||||||||
Base Year Index (ECI):
|
180.3 | |||||||
Base Year Index (CPI):
|
195.4 |
Escalation | Escalation Estimate | Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery): | ||||||||||||||||||||||||||
Delivery | Number of | Factor | Adv Payment Base | At Signing | 24 Mos. | 21/18/15/12/9/6 Mos. | Total | |||||||||||||||||||||
Date | Aircraft | (Airframe) | Price Per A/P | 1% | 4% | 5% | 35% | |||||||||||||||||||||
Aug-2012
|
1 | 1.1847 | $ | 277,307,000 | $ | 923,070 | $ | 11,092,280 | $ | 13,865,350 | $ | 97,057,450 | ||||||||||||||||
Nov-2012
|
1 | 1.1914 | $ | 278,875,000 | $ | 938,750 | $ | 11,155,000 | $ | 13,943,750 | $ | 97,606,250 | ||||||||||||||||
Feb-2013
|
2 | 1.2034 | $ | 281,684,000 | $ | 966,840 | $ | 11,267,360 | $ | 14,084,200 | $ | 98,589,400 | ||||||||||||||||
May-2013
|
1 | 1.2117 | $ | 283,627,000 | $ | 986,270 | $ | 11,345,080 | $ | 14,181,350 | $ | 99,269,450 | ||||||||||||||||
Aug-2013
|
1 | 1.2197 | $ | 285,499,000 | $ | 1,004,990 | $ | 11,419,960 | $ | 14,274,950 | $ | 99,924,650 | ||||||||||||||||
Nov-2013
|
2 | 1.2268 | $ | 287,161,000 | $ | 1,021,610 | $ | 11,486,440 | $ | 14,358,050 | $ | 100,506,350 | ||||||||||||||||
Feb-2014
|
2 | 1.238 | $ | 289,783,000 | $ | 1,047,830 | $ | 11,591,320 | $ | 14,489,150 | $ | 101,424,050 | ||||||||||||||||
May-2014
|
1 | 1.2467 | $ | 291,819,000 | $ | 1,068,190 | $ | 11,672,760 | $ | 14,590,950 | $ | 102,136,650 | ||||||||||||||||
Aug-2014
|
1 | 1.2546 | $ | 293,668,000 | $ | 1,086,680 | $ | 11,746,720 | $ | 14,683,400 | $ | 102,783,800 | ||||||||||||||||
Nov-2014
|
1 | 1.2619 | $ | 295,377,000 | $ | 1,103,770 | $ | 11,815,080 | $ | 14,768,850 | $ | 103,381,950 | ||||||||||||||||
Feb-2015
|
1 | 1.2733 | $ | 298,046,000 | $ | 1,130,460 | $ | 11,921,840 | $ | 14,902,300 | $ | 104,316,100 | ||||||||||||||||
May-2015
|
1 | 1.2833 | $ | 300,386,000 | $ | 1,153,860 | $ | 12,015,440 | $ | 15,019,300 | $ | 105,135,100 |
Note: 1) | Per Article 3.1 of Letter No. 6-1162-RCN-1789; If Customer does not exercise an option, Boeing will refund the Deposit for the respective Option Aircraft to Customer in the form of a credit memorandum which may only be used to purchase Boeing goods and services. |
Supplemental Agreement No. 3 | ||
Page 2 | ||
Six Months Ended | ||||||||||||||||||||||||||||
November 30, | Year Ended May 31, | |||||||||||||||||||||||||||
2008 | 2007 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Earnings:
|
||||||||||||||||||||||||||||
Income before
income taxes
|
$ | 1,392 | $ | 1,555 | $ | 2,016 | $ | 3,215 | $ | 2,899 | $ | 2,313 | $ | 1,319 | ||||||||||||||
Add back:
|
||||||||||||||||||||||||||||
Interest expense,
net of capitalized
interest
|
36 | 64 | 98 | 136 | 142 | 160 | 136 | |||||||||||||||||||||
Amortization of
debt issuance costs
|
2 | 2 | 5 | 6 | 5 | 6 | 7 | |||||||||||||||||||||
Portion of rent
expense
representative
of interest factor
|
400 | 393 | 784 | 766 | 842 | 800 | 712 | |||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Earnings as adjusted
|
$ | 1,830 | $ | 2,014 | $ | 2,903 | $ | 4,123 | $ | 3,888 | $ | 3,279 | $ | 2,174 | ||||||||||||||
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Fixed Charges:
|
||||||||||||||||||||||||||||
Interest expense,
net of capitalized
interest
|
$ | 36 | $ | 64 | $ | 98 | $ | 136 | $ | 142 | $ | 160 | $ | 136 | ||||||||||||||
Capitalized interest
|
32 | 20 | 50 | 34 | 33 | 22 | 11 | |||||||||||||||||||||
Amortization of
debt issuance costs
|
2 | 2 | 5 | 6 | 5 | 6 | 7 | |||||||||||||||||||||
Portion of rent
expense
representative
of interest factor
|
400 | 393 | 784 | 766 | 842 | 800 | 712 | |||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
$ | 470 | $ | 479 | $ | 937 | $ | 942 | $ | 1,022 | $ | 988 | $ | 866 | ||||||||||||||
|
||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Ratio of Earnings to
Fixed Charges
|
3.9 | 4.2 | 3.1 | 4.4 | 3.8 | 3.3 | 2.5 | |||||||||||||||||||||
|
/s/ Ernst & Young LLP |
1. | I have reviewed this quarterly report on Form 10-Q of FedEx Corporation (the registrant); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Frederick W. Smith
|
||
|
||
Chairman, President and
|
||
Chief Executive Officer
|
1. | I have reviewed this quarterly report on Form 10-Q of FedEx Corporation (the registrant); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Alan B. Graf, Jr.
|
||
|
||
Executive Vice President and
|
||
Chief Financial Officer
|
(1) | The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of FedEx. |
/s/ Frederick W. Smith
|
||
|
||
Chairman, President and
|
||
Chief Executive Officer
|
(1) | The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of FedEx. |
/s/ Alan B. Graf, Jr.
|
||
|
||
Executive Vice President and
|
||
Chief Financial Officer
|