The song is not actually a fugue in compositional form; its title is a pun on the Latin phrasetempus fugit, meaning "time flies". The name is also a reflection of the speed at which the piece is played.
The original was recorded in 1949 with bassist Ray Brown and drummer Max Roach for the album Jazz Giant. Powell's composition "Celia" was probably recorded at the same session. Powell played the tune on record once more, in 1963 during his home recordings with Francis Paudras.[2]
Years given are for the recording(s), not first release. Because Powell's discography features albums with the same title, record labels are identified to avoid any confusion.