Put all financial metrics in a table: We are simultaneously focused on running our business more efficiently, flexibly, and profitably, which will create significant value for our stockholders in the years to come. I'm particularly pleased with the progress we are seeing in Ground. The team has taken aggressive actions to address its cost structure and has effectively mitigated volume pressures. One of the key drivers at Ground was the ability to manage staffing levels and associated expenses which resulted in reduced salaries, benefits, and purchased transportation costs.

Combined, these expenses were down 8% year over year. Despite the dynamic environment, Ground continued to deliver customers during peak with an average time in transit of approximately two days compared to 2.35 days in fiscal year 2022. In aggregate, these initiatives led to a modest increase in cost per package of 1% despite 11% volume declines, and total operating expenses were down $345 million year over year. When combined with our continued focus on revenue quality, total operating income was up 32% year over year and operating margin of 9.7% that improved 240 basis points year over year.