$FDX
FEDEX CORP Stock $fdx

$fdx Overview Financials Valuation SEC Filings Company Website

2011 Q1 Form 10-Q Financial Statement

#000095012311026716 Filed on March 18, 2011

Income Statement

Concept	2011 Q1	2010 Q1
Revenue	$9.663B	$8.701B
YoY Change	11.06%	6.93%
Cost Of Revenue	$2.495B	$2.030B
YoY Change	22.91%	19.69%
Gross Profit	$7.168B	$6.671B
YoY Change	7.45%	3.57%
Gross Profit Margin	74.18%	76.67%
Selling, General & Admin	$4.929B	$4.546B
YoY Change	8.42%	1.65%
% of Gross Profit	68.76%	68.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$493.0M	$488.0M
YoY Change	1.02%	-1.61%
% of Gross Profit	6.88%	7.32%
Operating Expenses	$6.754B	$6.255B
YoY Change	7.98%	-0.06%
Operating Profit	$393.0M	$416.0M
YoY Change	-5.53%	128.57%
Interest Expense	-$24.00M	-$19.00M
YoY Change	26.32%	0.0%
% of Operating Profit	-6.11%	-4.57%
Other Income/Expense, Net	-$33.00M	-$35.00M
YoY Change	-5.71%	52.17%
Pretax Income	$360.0M	$381.0M
YoY Change	-5.51%	139.62%
Income Tax	$129.0M	$142.0M
% Of Pretax Income	35.83%	37.27%
Net Earnings	$231.0M	$239.0M
YoY Change	-3.35%	146.39%
Net Earnings / Revenue	2.39%	2.75%
Basic Earnings Per Share	$0.73	$0.76
Diluted Earnings Per Share	$0.73	$0.76
COMMON SHARES
Basic Shares Outstanding	315.0M shares	312.0M shares
Diluted Shares Outstanding	317.0M shares	315.0M shares

Balance Sheet

Concept	2011 Q1	2010 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.359B	$1.549B
YoY Change	-12.27%	-42.05%
Cash & Equivalents	$1.359B	$1.549B
Short-Term Investments
Other Short-Term Assets	$988.0M	$817.0M
YoY Change	20.93%	0.86%
Inventory	$413.0M	$380.0M
Prepaid Expenses
Receivables	$4.478B	$3.937B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$7.238B	$6.683B
YoY Change	8.3%	-9.36%
LONG-TERM ASSETS
Property, Plant & Equipment	$15.33B	$14.00B
YoY Change	9.46%	2.82%
Goodwill	$2.321B	$2.229B
YoY Change	4.13%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$1.315B	$4.190B
YoY Change	-68.62%	44.43%
Total Long-Term Assets	$18.96B	$18.19B
YoY Change	4.24%	-7.33%
TOTAL ASSETS
Total Short-Term Assets	$7.238B	$6.683B
Total Long-Term Assets	$18.96B	$18.19B
Total Assets	$26.20B	$24.88B
YoY Change	5.33%	-7.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.590B	$1.489B
YoY Change	6.78%	6.97%
Accrued Expenses	$1.823B	$1.641B
YoY Change	11.09%	-31.97%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$18.00M	$283.0M
YoY Change	-93.64%	-74.01%
Total Short-Term Liabilities	$4.574B	$4.372B
YoY Change	4.62%	-10.65%
LONG-TERM LIABILITIES
Long-Term Debt	$1.667B	$1.668B
YoY Change	-0.06%	-13.03%
Other Long-Term Liabilities	$158.0M	$150.0M
YoY Change	5.33%	-95.2%
Total Long-Term Liabilities	$158.0M	$4.456B
YoY Change	-96.45%	-11.59%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.574B	$4.372B
Total Long-Term Liabilities	$158.0M	$4.456B
Total Liabilities	$4.732B	$8.828B
YoY Change	-46.4%	-22.93%
SHAREHOLDERS EQUITY
Retained Earnings	$14.71B	$13.55B
YoY Change	8.59%
Common Stock	$31.00M	$31.00M
YoY Change	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$12.00M	$3.000M
YoY Change	300.0%
Treasury Stock Shares
Shareholders Equity	$14.88B	$14.38B
YoY Change
Total Liabilities & Shareholders Equity	$26.20B	$24.88B
YoY Change	5.33%	-7.89%

Cashflow Statement

Concept	2011 Q1	2010 Q1
OPERATING ACTIVITIES
Net Income	$231.0M	$239.0M
YoY Change	-3.35%	146.39%
Depreciation, Depletion And Amortization	$493.0M	$488.0M
YoY Change	1.02%	-1.61%
Cash From Operating Activities	$446.0M	$551.0M
YoY Change	-19.06%	-28.07%
INVESTING ACTIVITIES
Capital Expenditures	-$644.0M	-$432.0M
YoY Change	49.07%	-28.0%
Acquisitions
YoY Change
Other Investing Activities	-$88.00M	-$2.000M
YoY Change	4300.0%	-140.0%
Cash From Investing Activities	-$732.0M	-$434.0M
YoY Change	68.66%	-27.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-241.0M	-25.00M
YoY Change	864.0%	-102.6%
NET CHANGE
Cash From Operating Activities	446.0M	551.0M
Cash From Investing Activities	-732.0M	-434.0M
Cash From Financing Activities	-241.0M	-25.00M
Net Change In Cash	-527.0M	92.00M
YoY Change	-672.83%	-91.87%
FREE CASH FLOW
Cash From Operating Activities	$446.0M	$551.0M
Capital Expenditures	-$644.0M	-$432.0M
Free Cash Flow	$1.090B	$983.0M
YoY Change	10.89%	-28.04%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2011Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	33078000000	USD
CY2010Q2	us-gaap	Receivables Net Current ReceivablesNetCurrent	4163000000	USD
CY2011Q1	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	540000000	USD
CY2010Q2	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	529000000	USD
CY2011Q1	fdx	Prepaid Expenses And Other PrepaidExpensesAndOther	448000000	USD
CY2010Q2	fdx	Prepaid Expenses And Other PrepaidExpensesAndOther	251000000	USD
	dei	Entity Registrant Name EntityRegistrantName	FedEx Corporation
	dei	Entity Central Index Key EntityCentralIndexKey	0001048911
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--05-31
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Voluntary Filers EntityVoluntaryFilers	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2011Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	315657943	shares
	dei	Document Type DocumentType	10-Q
	dei	Document Period End Date DocumentPeriodEndDate	2011-02-28
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2011
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
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CY2011Q1	us-gaap	Receivables Net Current ReceivablesNetCurrent	4478000000	USD
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CY2011Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	15328000000	USD
CY2011Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	26202000000	USD
CY2010Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	24902000000	USD
	us-gaap	Other Restructuring Costs OtherRestructuringCosts	42000000	USD
CY2011Q1	us-gaap	Restructuring Charges RestructuringCharges	43000000	USD
	us-gaap	Restructuring Charges RestructuringCharges	130000000	USD
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CY2011Q1	us-gaap	Share Based Compensation ShareBasedCompensation	21000000	USD
CY2010Q1	us-gaap	Share Based Compensation ShareBasedCompensation	22000000	USD
CY2011Q1	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	120000	USD
	us-gaap	Other Depreciation And Amortization OtherDepreciationAndAmortization	15000000	USD
	us-gaap	Commitments And Contingencies2009 CommitmentsAndContingencies2009
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CY2011Q1	us-gaap	Assets Assets	26202000000	USD
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	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.84
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	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	238000000	USD
CY2011Q1	us-gaap	Business Acquisition Cost Of Acquired Entity Purchase Price BusinessAcquisitionCostOfAcquiredEntityPurchasePrice	96000000	USD
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	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	-571000000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	2457000000	USD
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	fdx	Proceeds From Asset Dispositions And Other ProceedsFromAssetDispositionsAndOther	15000000	USD
	fdx	Proceeds From Asset Dispositions And Other ProceedsFromAssetDispositionsAndOther	31000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2784000000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1950000000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	262000000	USD
	us-gaap	Repayments Of Long Term Debt And Capital Securities RepaymentsOfLongTermDebtAndCapitalSecurities	632000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	64000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	36000000	USD
	us-gaap	Excess Tax Benefit From Share Based Compensation Financing Activities ExcessTaxBenefitFromShareBasedCompensationFinancingActivities	11000000	USD
	us-gaap	Excess Tax Benefit From Share Based Compensation Financing Activities ExcessTaxBenefitFromShareBasedCompensationFinancingActivities	9000000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	113000000	USD
	us-gaap	Payments Of Dividends PaymentsOfDividends	103000000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-16000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-300000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-706000000	USD
	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	34000000	USD
	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	5000000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-593000000	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-743000000	USD
CY2009Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2292000000	USD
CY2010Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1549000000	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	96000000	USD
	fdx	Significant Accounting Policies And Other SignificantAccountingPoliciesAndOther	<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">(1) </font><font style="font-family:Times New Roman;font-size:11pt;text-decoration:underline;">General</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. </font><font style="font-family:Times New Roman;font-size:11pt;"> These interim financial statements of FedEx Corporation (“FedEx”) have been prepared in accordance with accounting principles </font><font style="font-family:Times New Roman;font-size:11pt;">generally</font><font style="font-family:Times New Roman;font-size:11pt;"> accepted in the United States and Securities and Exchange Commission (“SEC”) instructions for interim financial information, and should be read in conjunction with our Annual Report on Form 10</font><font style="font-family:Times New Roman;font-size:11pt;">-</font><font style="font-family:Times New Roman;font-size:11pt;">K </font><font style="font-family:Times New Roman;font-size:11pt;">(“Annual Report”) </font><font style="font-family:Times New Roman;font-size:11pt;">for the year ended </font><font style="font-family:Times New Roman;font-size:11pt;">May 31,</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">2010</font><font style="font-family:Times New Roman;font-size:11pt;">. Accordingly, significant accounting policies and other disclosures normally </font><font style="font-family:Times New Roman;font-size:11pt;">provided have been omitted because</font><font style="font-family:Times New Roman;font-size:11pt;"> such items are disclosed therein.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (including normal recurring adjustments) necessary to present fairly our financial position as of </font><font style="font-family:Times New Roman;font-size:11pt;">February 28,</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">2011</font><font style="font-family:Times New Roman;font-size:11pt;">, the results of our operations </font><font style="font-family:Times New Roman;font-size:11pt;">for the three- and nine-month periods ended </font><font style="font-family:Times New Roman;font-size:11pt;">February 28, 2011</font><font style="font-family:Times New Roman;font-size:11pt;"> and </font><font style="font-family:Times New Roman;font-size:11pt;">2010</font><font style="font-family:Times New Roman;font-size:11pt;"> and cash flows for the nine</font><font style="font-family:Times New Roman;font-size:11pt;">-month periods ended February 28,</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">2011 and 2010</font><font style="font-family:Times New Roman;font-size:11pt;">. Operating results for the </font><font style="font-family:Times New Roman;font-size:11pt;">three- and nine-month </font><font style="font-family:Times New Roman;font-size:11pt;">period</font><font style="font-family:Times New Roman;font-size:11pt;">s</font><font style="font-family:Times New Roman;font-size:11pt;"> ended </font><font style="font-family:Times New Roman;font-size:11pt;">February 28, 2011</font><font style="font-family:Times New Roman;font-size:11pt;"> are not necessarily indicative of the results that may be expected for the year ending </font><font style="font-family:Times New Roman;font-size:11pt;">May 31,</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">2011</font><font style="font-family:Times New Roman;font-size:11pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Except as otherwise specified, references to years indicate our fiscal year ending </font><font style="font-family:Times New Roman;font-size:11pt;">May 31, 2011</font><font style="font-family:Times New Roman;font-size:11pt;"> or ended May 31 of the year referenced and comparisons are to the corresponding period of the prior year.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">EMPLOYEES UNDER COLLECTIVE BAR</font><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;">G</font><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;">AINING ARRANGEMENTS</font><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;">. </font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">The pilots of Federal Expr</font><font style="font-family:Times New Roman;font-size:11pt;">ess Corporation (“FedEx Express”</font><font style="font-family:Times New Roman;font-size:11pt;">), wh</font><font style="font-family:Times New Roman;font-size:11pt;">ich</font><font style="font-family:Times New Roman;font-size:11pt;"> represent a small number of FedEx Express total employees, are employed under a collective bargaining agreement that became amendable on October 31, 2010.  In January 2011, FedEx Express and the pilots' union reached a tentative agreement on a new labor contract.  The proposed new contract includes safety initiatives, increases in hourly pay rates and travel per diem rates, and provisions for opening a European crew base.  Contract ratification is expected during the fourth quarter of 2011, but cannot be assured.  If ratified, the new contract is scheduled to become amendable in March 2013 unless the union exercises its option to shorten the contract, in which case the agreement would be amendable in March 2012 and a portion of the hourly pay increases would be canceled.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">BUSINESS ACQUISITIONS.  </font><font style="font-family:Times New Roman;font-size:11pt;">On February 22, 2011, FedEx</font><font style="font-family:Times New Roman;font-size:11pt;"> Express </font><font style="font-family:Times New Roman;font-size:11pt;">completed </font><font style="font-family:Times New Roman;font-size:11pt;">the</font><font style="font-family:Times New Roman;font-size:11pt;"> acquisition of </font><font style="font-family:Times New Roman;font-size:11pt;">the </font><font style="font-family:Times New Roman;font-size:11pt;">Indian </font><font style="font-family:Times New Roman;font-size:11pt;">logistics, distribution and express businesses of </font><font style="font-family:Times New Roman;font-size:11pt;">AFL Pvt. Ltd. and its affiliate</font><font style="font-family:Times New Roman;font-size:11pt;"> Unifreight I</font><font style="font-family:Times New Roman;font-size:11pt;">ndia Pvt. Ltd. </font><font style="font-family:Times New Roman;font-size:11pt;">for</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">$96</font><font style="font-family:Times New Roman;font-size:11pt;"> million in cash</font><font style="font-family:Times New Roman;font-size:11pt;">. The financial</font><font style="font-family:Times New Roman;font-size:11pt;"> results of the acquired businesses</font><font style="font-family:Times New Roman;font-size:11pt;"> are included in the FedEx Express segment from the date o</font><font style="font-family:Times New Roman;font-size:11pt;">f acquisition and were</font><font style="font-family:Times New Roman;font-size:11pt;"> not material to our results of operat</font><font style="font-family:Times New Roman;font-size:11pt;">ions or financial condition. </font><font style="font-family:Times New Roman;font-size:11pt;">S</font><font style="font-family:Times New Roman;font-size:11pt;">ubstantially all of the purchase price was allo</font><font style="font-family:Times New Roman;font-size:11pt;">cated to </font><font style="font-family:Times New Roman;font-size:11pt;">go</font><font style="font-family:Times New Roman;font-size:11pt;">odwill</font><font style="font-family:Times New Roman;font-size:11pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">O</font><font style="font-family:Times New Roman;font-size:11pt;">n December 15, 2010, FedEx entered into an agreement to acquire </font><font style="font-family:Times New Roman;font-size:11pt;">Servicios Nacionales Mupa, SA de CV (MultiPack), a Mexican domestic express package delivery company.  This acquisition will be funded with cash from operations and is expected to be completed during 2011, subject to customary closing conditions. The financial </font><font style="font-family:Times New Roman;font-size:11pt;">results of the acquired company</font><font style="font-family:Times New Roman;font-size:11pt;"> will be included in the FedEx Express segment from the date of acquisition and will be immaterial to our 2011 results. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">These acquisitions will give us more robust d</font><font style="font-family:Times New Roman;font-size:11pt;">omestic transportation and add</font><font style="font-family:Times New Roman;font-size:11pt;">ed capabilities in these important global markets. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">BUSINESS REALIGNMENT</font><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;">.</font><font style="font-family:Courier New;font-size:10pt;font-style:italic;"> </font><font style="font-family:Courier New;font-size:10pt;font-style:italic;"> </font><font style="font-family:Times New Roman;font-size:11pt;">The previously</font><font style="font-family:Times New Roman;font-size:11pt;"> announced combination of our FedEx Freight and FedEx National LTL operations was completed on January 3</font><font style="font-family:Times New Roman;font-size:11pt;">0</font><font style="font-family:Times New Roman;font-size:11pt;">, 2011. </font><font style="font-family:Times New Roman;font-size:11pt;">Our combined </font><font style="font-family:Times New Roman;font-size:11pt;">less-than-truckload (“LTL”) </font><font style="font-family:Times New Roman;font-size:11pt;">network will </font><font style="font-family:Times New Roman;font-size:11pt;">increase efficiencies, reduce operational costs and provide customers both priority and economy LTL freight services across all lengths of haul from one integrated company. </font><font style="font-family:Times New Roman;font-size:11pt;">These actions resulted in the following incremental costs and charges for the third quarter and nine months of 2011 (in millions):</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 20px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 28px; text-align:left;border-color:#000000;min-width:28px;"> </td><td style="width: 39px; text-align:left;border-color:#000000;min-width:39px;"> </td><td style="width: 231px; text-align:left;border-color:#000000;min-width:231px;"> </td><td colspan="5" style="width: 209px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:209px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: center;">2011</font></td><td style="width: 36px; text-align:center;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 20px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 28px; text-align:left;border-color:#000000;min-width:28px;"> </td><td style="width: 39px; text-align:left;border-color:#000000;min-width:39px;"> </td><td style="width: 231px; text-align:left;border-color:#000000;min-width:231px;"> </td><td colspan="2" style="width: 91px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:91px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: center;">Three Months</font></td><td style="width: 27px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:27px;"> </td><td colspan="2" style="width: 91px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:91px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: center;">Nine Months</font></td><td style="width: 36px; text-align:center;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 18px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 28px; text-align:left;border-color:#000000;min-width:28px;"> </td><td style="width: 39px; text-align:left;border-color:#000000;min-width:39px;"> </td><td style="width: 231px; text-align:left;border-color:#000000;min-width:231px;"> </td><td colspan="2" style="width: 91px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:91px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: center;">Ended</font></td><td style="width: 27px; text-align:center;border-color:#000000;min-width:27px;"> </td><td colspan="2" style="width: 91px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:91px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: center;">Ended</font></td><td style="width: 36px; text-align:center;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 10px"><td colspan="4" style="width: 318px; text-align:left;border-color:#000000;min-width:318px;"> </td><td style="width: 14px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:77px;"> </td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:77px;"> </td><td style="width: 36px; text-align:left;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 18px"><td colspan="4" style="width: 318px; text-align:left;border-color:#000000;min-width:318px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: left;">Severance</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">$</font></td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 7</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">$</font></td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 40</font></td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 18px"><td colspan="4" style="width: 318px; text-align:left;border-color:#000000;min-width:318px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: left;">Lease terminations</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 14</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 21</font></td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 18px"><td colspan="4" style="width: 318px; text-align:left;border-color:#000000;min-width:318px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: left;">Asset impairments</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 27</font></td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 18px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td colspan="3" style="width: 298px; text-align:left;border-color:#000000;min-width:298px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">Impairment and other charges</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 21</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 88</font></td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 10px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 28px; text-align:left;border-color:#000000;min-width:28px;"> </td><td style="width: 39px; text-align:left;border-color:#000000;min-width:39px;"> </td><td style="width: 231px; text-align:left;border-color:#000000;min-width:231px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"> </td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; text-align:right;border-color:#000000;min-width:77px;"> </td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 20px"><td colspan="4" style="width: 318px; text-align:left;border-color:#000000;min-width:318px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: left;">Other program costs</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;"> 22</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 77px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;TEXT-ALIGN: right;"> 42</font></td><td style="width: 36px; text-align:right;border-color:#000000;min-width:36px;"> </td></tr><tr style="height: 21px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 28px; text-align:left;border-color:#000000;min-width:28px;"> </td><td colspan="2" style="width: 270px; text-align:left;border-color:#000000;min-width:270px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">Total program costs</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">$</font></td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;"> 43</font></td><td style="width: 27px; text-align:left;border-color:#000000;min-width:27px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;">$</font></td><td style="width: 77px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:right;border-color:#000000;min-width:77px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 11pt;COLOR: #000000;"> 130</font></td><td style="width: 36px; text-align:left;border-color:#000000;min-width:36px;"> </td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Other program costs include </font><font style="font-family:Times New Roman;font-size:11pt;">$</font><font style="font-family:Times New Roman;font-size:11pt;">15</font><font style="font-family:Times New Roman;font-size:11pt;"> million</font><font style="font-family:Times New Roman;font-size:11pt;"> in the nine months of 2011 of accelerated depreciation expense due to a change in the estimated useful life of certain assets impacted by the combination of these </font><font style="font-family:Times New Roman;font-size:11pt;">operations </font><font style="font-family:Times New Roman;font-size:11pt;">and other incremental costs directly associated with the program, such as employee benefits.</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">Substantially all of</font><font style="font-family:Times New Roman;font-size:11pt;"> the severance accruals were paid during the third quarter of 2011 and the remaining severance accruals will be paid during the fourth quarter of 2011. </font><font style="font-family:Times New Roman;font-size:11pt;">Cash to be received from the asset sales is expected to approximate the </font><font style="font-family:Times New Roman;font-size:11pt;">total </font><font style="font-family:Times New Roman;font-size:11pt;">cash outlays for </font><font style="font-family:Times New Roman;font-size:11pt;">the program including </font><font style="font-family:Times New Roman;font-size:11pt;">severance and lease terminations</font><font style="font-family:Times New Roman;font-size:11pt;">,</font><font style="font-family:Times New Roman;font-size:11pt;"> and the estimates recorded are not subject to any material risk of change.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">STOCK-BASED COMPENSATION. </font><font style="font-family:Times New Roman;font-size:11pt;">We have two types of equity-based compensation: stock options and restricted stock. The key terms of the stock option and restricted stock awards granted under our incentive stock plans </font><font style="font-family:Times New Roman;font-size:11pt;">and all financial disclosures about these programs </font><font style="font-family:Times New Roman;font-size:11pt;">are set forth in our Annual Report.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;margin-left:0px;">Our stock-based compensation </font><font style="font-family:Times New Roman;font-size:11pt;">expense </font><font style="font-family:Times New Roman;font-size:11pt;">was </font><font style="font-family:Times New Roman;font-size:11pt;">$</font><font style="font-family:Times New Roman;font-size:11pt;">21</font><font style="font-family:Times New Roman;font-size:11pt;"> mi</font><font style="font-family:Times New Roman;font-size:11pt;">llion for the three-month period ended</font><font style="font-family:Times New Roman;font-size:11pt;"> February 28, 2011 and </font><font style="font-family:Times New Roman;font-size:11pt;">$</font><font style="font-family:Times New Roman;font-size:11pt;">78</font><font style="font-family:Times New Roman;font-size:11pt;"> million for the nine</font><font style="font-family:Times New Roman;font-size:11pt;">-month</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">period ended </font><font style="font-family:Times New Roman;font-size:11pt;">February 28, 2011. </font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">Our stock</font><font style="font-family:Times New Roman;font-size:11pt;">-</font><font style="font-family:Times New Roman;font-size:11pt;">based compensation </font><font style="font-family:Times New Roman;font-size:11pt;">expense </font><font style="font-family:Times New Roman;font-size:11pt;">was </font><font style="font-family:Times New Roman;font-size:11pt;">$</font><font style="font-family:Times New Roman;font-size:11pt;">22</font><font style="font-family:Times New Roman;font-size:11pt;"> million for t</font><font style="font-family:Times New Roman;font-size:11pt;">he three-month period ended</font><font style="font-family:Times New Roman;font-size:11pt;"> February 28, 2010 and</font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">$</font><font style="font-family:Times New Roman;font-size:11pt;">80</font><font style="font-family:Times New Roman;font-size:11pt;"> million for the nine</font><font style="font-family:Times New Roman;font-size:11pt;">-month period ended </font><font style="font-family:Times New Roman;font-size:11pt;">February 28, 2010</font><font style="font-family:Times New Roman;font-size:11pt;">.</font><font style="font-family:Times New Roman;font-size:11pt;"> Due to its immateriality</font><font style="font-family:Times New Roman;font-size:11pt;">,</font><font style="font-family:Times New Roman;font-size:11pt;"> additional disclosures re</font><font style="font-family:Times New Roman;font-size:11pt;">la</font><font style="font-family:Times New Roman;font-size:11pt;">ted to stock-based compensation have been excluded from this quarterly report.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:11pt;font-style:italic;margin-left:0px;">DIVIDENDS DECLARED PER COMMON SHARE. </font><font style="font-family:Times New Roman;font-size:11pt;"> </font><font style="font-family:Times New Roman;font-size:11pt;">On </font><font style="font-family:Times New Roman;font-size:11pt;">February 2</font><font style="font-family:Times New Roman;font-size:11pt;">8, 2011</font><font style="font-family:Times New Roman;font-size:11pt;">, our Board of Directors declared a dividend of $0.12 per share of common stock. The di</font><font style="font-family:Times New Roman;font-size:11pt;">vidend will be</font><font style="font-family:Times New Roman;font-size:11pt;"> paid on </font><font style="font-family:Times New Roman;font-size:11pt;">April</font><font style="font-family:Times New Roman;font-size:11pt;"> 1</font><font style="font-family:Times New Roman;font-size:11pt;">, 201</font><font style="font-family:Times New Roman;font-size:11pt;">1</font><font style="font-family:Times New Roman;font-size:11pt;"> to stockholders of record as of the c</font><font style="font-family:Times New Roman;font-size:11pt;">lose of business on </font><font style="font-family:Times New Roman;font-size:11pt;">March 18</font><font style="font-family:Times New Roman;font-size:11pt;">, 2011</font><font style="font-family:Times New Roman;font-size:11pt;">. Each quarterly dividend payment is subject to review and approval by our Board of Directors, and we evaluate</font><font style="font-family:Times New Roman;font-size:11pt;"> our dividend payment amount on an annual basis at the end of each fiscal</font><font style="font-family:Times New Roman;font-size:11pt;"> year.</font></p>
CY2011Q1	us-gaap	Severance Costs SeveranceCosts	7000000	USD
	us-gaap	Severance Costs SeveranceCosts	40000000	USD
CY2011Q1	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	-14000000	USD
	us-gaap	Gain Loss On Contract Termination GainLossOnContractTermination	-21000000	USD
CY2011Q1	us-gaap	Other Restructuring Costs OtherRestructuringCosts	22000000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	1078000000	USD
CY2010Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	211000000	USD
CY2010Q1	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	-28000000	USD
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	106000000	USD
	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease	9000000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	776000000	USD
CY2011Q1	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax	4000000	USD
CY2010Q1	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax	5000000	USD
	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax	21000000	USD
	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTax	6000000	USD
CY2011Q1	us-gaap	Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease	26000000	USD
	us-gaap	Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease	78000000	USD
	us-gaap	Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease	2000000	USD
CY2011Q1	us-gaap	Other Comprehensive Income Defined Benefit Plans Tax OtherComprehensiveIncomeDefinedBenefitPlansTax	16000000	USD
	us-gaap	Other Comprehensive Income Defined Benefit Plans Tax OtherComprehensiveIncomeDefinedBenefitPlansTax	46000000	USD
	us-gaap	Other Comprehensive Income Defined Benefit Plans Tax OtherComprehensiveIncomeDefinedBenefitPlansTax	1000000	USD
CY2011Q1	us-gaap	Line Of Credit Facility Maximum Borrowing Capacity LineOfCreditFacilityMaximumBorrowingCapacity	1000000000	USD
CY2011Q1	us-gaap	Line Of Credit Facility Current Borrowing Capacity LineOfCreditFacilityCurrentBorrowingCapacity	1000000000	USD
CY2011Q1	fdx	Long Term Debt Exclusive Of Capital Leases Carrying Value LongTermDebtExclusiveOfCapitalLeasesCarryingValue	1500000000	USD
CY2010Q2	fdx	Long Term Debt Exclusive Of Capital Leases Carrying Value LongTermDebtExclusiveOfCapitalLeasesCarryingValue	1800000000	USD
CY2011Q1	fdx	Long Term Debt Exclusive Of Capital Leases Fair Value LongTermDebtExclusiveOfCapitalLeasesFairValue	1800000000	USD
CY2010Q2	fdx	Long Term Debt Exclusive Of Capital Leases Fair Value LongTermDebtExclusiveOfCapitalLeasesFairValue	2100000000	USD
	us-gaap	Line Of Credit Facility Expiration Date LineOfCreditFacilityExpirationDate	July 2012
	fdx	Line Of Credit Facility Covenant Terms Leverage Ratio LineOfCreditFacilityCovenantTermsLeverageRatio	0.5
	us-gaap	Repayments Of Senior Debt RepaymentsOfSeniorDebt	500000000	USD
CY2011Q1	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	250000000	USD
	fdx	Net Earnings Allocable To Common Shareholders NetEarningsAllocableToCommonShareholders	892000000	USD
CY2011Q1	fdx	Net Earnings Allocable To Common Shareholders NetEarningsAllocableToCommonShareholders	231000000	USD
CY2010Q1	fdx	Net Earnings Allocable To Common Shareholders NetEarningsAllocableToCommonShareholders	238000000	USD
	fdx	Net Earnings Allocable To Common Shareholders NetEarningsAllocableToCommonShareholders	763000000	USD
CY2011Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	315000000	shares
CY2010Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	312000000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	314000000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	312000000	shares
CY2011Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	2000000	shares
CY2010Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	3000000	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	2000000	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	2000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	316000000	shares
CY2011Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	317000000	shares
CY2010Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	315000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	314000000	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	10000000	shares
CY2011Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	7300000	shares
CY2010Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9700000	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	12300000	shares
	fdx	Pension Plan Net Periodic Benefit Cost PensionPlanNetPeriodicBenefitCost	411000000	USD
	fdx	Postretirement Healthcare Plans Net Periodic Benefit Cost PostretirementHealthcarePlansNetPeriodicBenefitCost	45000000	USD
	us-gaap	Pension And Other Postretirement Benefit Expense PensionAndOtherPostretirementBenefitExpense	629000000	USD
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	us-gaap	Pension And Other Postretirement Benefit Expense PensionAndOtherPostretirementBenefitExpense	344000000	USD
CY2011Q1	fdx	Pension Plan Net Periodic Benefit Cost PensionPlanNetPeriodicBenefitCost	136000000	USD
CY2010Q1	fdx	Pension Plan Net Periodic Benefit Cost PensionPlanNetPeriodicBenefitCost	75000000	USD
CY2011Q1	fdx	Postretirement Healthcare Plans Net Periodic Benefit Cost PostretirementHealthcarePlansNetPeriodicBenefitCost	15000000	USD
CY2010Q1	fdx	Postretirement Healthcare Plans Net Periodic Benefit Cost PostretirementHealthcarePlansNetPeriodicBenefitCost	11000000	USD
CY2011Q1	us-gaap	Pension And Other Postretirement Benefit Expense PensionAndOtherPostretirementBenefitExpense	219000000	USD
CY2010Q1	us-gaap	Pension And Other Postretirement Benefit Expense PensionAndOtherPostretirementBenefitExpense	127000000	USD
CY2011Q1	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	68000000	USD
CY2010Q1	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	41000000	USD
	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	173000000	USD
	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	86000000	USD
	fdx	Required Retirement Plan Contributions By Employer RequiredRetirementPlanContributionsByEmployer	380000000	USD
	fdx	Required Retirement Plan Contributions By Employer RequiredRetirementPlanContributionsByEmployer	236000000	USD
	fdx	Voluntary Retirement Plan Contributions By Employer VoluntaryRetirementPlanContributionsByEmployer	495000000	USD
	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	380000000	USD
	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	731000000	USD
CY2011Q1	fdx	Defined Benefit Plan Estimated Future Employer Contributions In Remainder Of Fiscal Year DefinedBenefitPlanEstimatedFutureEmployerContributionsInRemainderOfFiscalYear	100000000	USD
	us-gaap	Segment Reporting Segment Revenue SegmentReportingSegmentRevenue	28752000000	USD
	us-gaap	Segment Reporting Segment Operating Profit Loss SegmentReportingSegmentOperatingProfitLoss	1490000000	USD
	us-gaap	Segment Reporting Segment Revenue SegmentReportingSegmentRevenue	25306000000	USD
	us-gaap	Segment Reporting Segment Operating Profit Loss SegmentReportingSegmentOperatingProfitLoss	1302000000	USD
CY2011Q1	us-gaap	Segment Reporting Segment Revenue SegmentReportingSegmentRevenue	9663000000	USD
CY2010Q1	us-gaap	Segment Reporting Segment Revenue SegmentReportingSegmentRevenue	8701000000	USD
CY2011Q1	us-gaap	Segment Reporting Segment Operating Profit Loss SegmentReportingSegmentOperatingProfitLoss	393000000	USD
CY2010Q1	us-gaap	Segment Reporting Segment Operating Profit Loss SegmentReportingSegmentOperatingProfitLoss	416000000	USD
CY2011Q1	fdx	Quarterly Pensions Contributions Remaining QuarterlyPensionsContributionsRemaining	100000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due Within Fiscal Year UnrecordedUnconditionalPurchaseObligationDueWithinFiscalYear	278000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due In Second Year UnrecordedUnconditionalPurchaseObligationDueInSecondYear	1363000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due In Third Year UnrecordedUnconditionalPurchaseObligationDueInThirdYear	1101000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due In Fourth Year UnrecordedUnconditionalPurchaseObligationDueInFourthYear	780000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due In Fifth Year UnrecordedUnconditionalPurchaseObligationDueInFifthYear	508000000	USD
CY2011Q1	fdx	Unrecorded Unconditional Purchase Obligation Due After Fifth Year UnrecordedUnconditionalPurchaseObligationDueAfterFifthYear	1574000000	USD
CY2011Q1	fdx	Deposit And Progress Payments DepositAndProgressPayments	546000000	USD
	fdx	Change In Deposit And Progress Payments ChangeInDepositAndProgressPayments	109000000	USD
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Within Fiscal Year AircraftPurchaseObligationWithDeliveryWithinFiscalYear	3
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Due In Second Fiscal Year AircraftPurchaseObligationWithDeliveryDueInSecondFiscalYear	17
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Due In Third Fiscal Year AircraftPurchaseObligationWithDeliveryDueInThirdFiscalYear	6
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Due In Fourth Fiscal Year AircraftPurchaseObligationWithDeliveryDueInFourthFiscalYear	7
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Due In Fifth Fiscal Year AircraftPurchaseObligationWithDeliveryDueInFifthFiscalYear	3
CY2011Q1	fdx	Aircraft Purchase Obligation With Delivery Due After Fifth Fiscal Year AircraftPurchaseObligationWithDeliveryDueAfterFifthFiscalYear	10
CY2011Q1	fdx	Aircraft Purchase Obligation AircraftPurchaseObligation	46
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due Current CapitalLeasesFutureMinimumPaymentsDueCurrent	2000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due In Two Years CapitalLeasesFutureMinimumPaymentsDueInTwoYears	25000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due In Three Years CapitalLeasesFutureMinimumPaymentsDueInThreeYears	119000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due In Four Years CapitalLeasesFutureMinimumPaymentsDueInFourYears	2000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due In Five Years CapitalLeasesFutureMinimumPaymentsDueInFiveYears	2000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due Thereafter CapitalLeasesFutureMinimumPaymentsDueThereafter	14000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Due CapitalLeasesFutureMinimumPaymentsDue	164000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Interest Included In Payments CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments	18000000	USD
CY2011Q1	us-gaap	Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments	146000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	450000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	1743000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	1596000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	1414000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	1308000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	7503000000	USD
CY2011Q1	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	14014000000	USD
	us-gaap	Interest Paid Net InterestPaidNet	106000000	USD
	us-gaap	Interest Paid Net InterestPaidNet	101000000	USD
	us-gaap	Income Taxes Paid IncomeTaxesPaid	417000000	USD
	us-gaap	Income Taxes Paid IncomeTaxesPaid	182000000	USD
	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	16000000	USD
	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	276000000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	401000000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	-94000000	USD
CY2011Q1	us-gaap	Guarantee Obligations Maximum Exposure GuaranteeObligationsMaximumExposure	1000000000	USD
CY2011Q1	fdx	Spare Parts Supplies Fuel Prepaid Expenses And Other Net SparePartsSuppliesFuelPrepaidExpensesAndOtherNet	861000000	USD
CY2011Q1	us-gaap	Other Liabilities OtherLiabilities	3753000000	USD
CY2010Q2	fdx	Spare Parts Supplies Fuel Prepaid Expenses And Other Net SparePartsSuppliesFuelPrepaidExpensesAndOtherNet	640000000	USD
CY2010Q2	us-gaap	Other Liabilities OtherLiabilities	3887000000	USD

Files In Submission

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fdx-20110228.xml	Edgar Link	completed
fdx-20110228.xsd	Edgar Link	pending
fdx-20110228_cal.xml	Edgar Link	unprocessable
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Financial_Report.xls	Edgar Link	pending
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$FDX
FEDEX CORP Stock $fdx

2011 Q1 Form 10-Q Financial Statement

#000095012311026716 Filed on March 18, 2011

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FDX FEDEX CORP Stock $fdx

2011 Q1 Form 10-Q Financial Statement

#000095012311026716 Filed on March 18, 2011

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FDX
FEDEX CORP Stock $fdx