2016 Q1 Form 10-Q Financial Statement

#000119312516508426 Filed on March 17, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $12.65B $11.72B
YoY Change 8.01% 3.67%
Cost Of Revenue $3.160B $2.975B
YoY Change 6.22% -7.78%
Gross Profit $9.494B $8.741B
YoY Change 8.61% 8.25%
Gross Profit Margin 75.03% 74.61%
Selling, General & Admin $5.960B $5.526B
YoY Change 7.85% 4.92%
% of Gross Profit 62.78% 63.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $663.0M $652.0M
YoY Change 1.69% 0.0%
% of Gross Profit 6.98% 7.46%
Operating Expenses $11.79B $10.68B
YoY Change 10.41% 43.64%
Operating Profit $864.0M $1.038B
YoY Change -16.76% 40.84%
Interest Expense -$81.00M -$58.00M
YoY Change 39.66% 52.63%
% of Operating Profit -9.38% -5.59%
Other Income/Expense, Net -$82.00M -$53.00M
YoY Change 54.72% 488.89%
Pretax Income $782.0M $985.0M
YoY Change -20.61% 65.82%
Income Tax $275.0M $357.0M
% Of Pretax Income 35.17% 36.24%
Net Earnings $507.0M $628.0M
YoY Change -19.27% 43.71%
Net Earnings / Revenue 4.01% 5.36%
Basic Earnings Per Share $1.86 $2.21
Diluted Earnings Per Share $1.84 $2.18
COMMON SHARES
Basic Shares Outstanding 272.0M 283.0M shares
Diluted Shares Outstanding 275.0M 287.0M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.841B $3.478B
YoY Change -18.32% 14.33%
Cash & Equivalents $2.841B $3.478B
Short-Term Investments
Other Short-Term Assets $1.286B $932.0M
YoY Change 37.98% -13.7%
Inventory $476.0M $488.0M
Prepaid Expenses
Receivables $5.634B $5.584B
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.24B $10.48B
YoY Change -2.34% 7.17%
LONG-TERM ASSETS
Property, Plant & Equipment $22.55B $20.43B
YoY Change 10.41% 5.91%
Goodwill $3.805B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.266B $1.396B
YoY Change -9.31% 51.08%
Total Long-Term Assets $27.58B $25.63B
YoY Change 7.63% 11.67%
TOTAL ASSETS
Total Short-Term Assets $10.24B $10.48B
Total Long-Term Assets $27.58B $25.63B
Total Assets $37.82B $36.11B
YoY Change 4.74% 10.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.024B $2.050B
YoY Change -1.27% 7.72%
Accrued Expenses $3.904B $3.193B
YoY Change 22.27% 2.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.00M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $5.939B $5.243B
YoY Change 13.27% 4.46%
LONG-TERM LIABILITIES
Long-Term Debt $8.477B $7.228B
YoY Change 17.28% 52.65%
Other Long-Term Liabilities $7.030B $5.128B
YoY Change 37.09% -9.48%
Total Long-Term Liabilities $15.51B $12.36B
YoY Change 25.5% 18.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.939B $5.243B
Total Long-Term Liabilities $15.51B $12.36B
Total Liabilities $23.49B $20.10B
YoY Change 16.9% 14.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.869B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.33B $16.01B
YoY Change
Total Liabilities & Shareholders Equity $37.82B $36.11B
YoY Change 4.74% 10.32%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $507.0M $628.0M
YoY Change -19.27% 43.71%
Depreciation, Depletion And Amortization $663.0M $652.0M
YoY Change 1.69% 0.0%
Cash From Operating Activities $1.342B $1.322B
YoY Change 1.51% 36.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.017B -$1.079B
YoY Change -5.75% 24.88%
Acquisitions
YoY Change
Other Investing Activities -$12.00M -$1.420B
YoY Change -99.15% -35600.0%
Cash From Investing Activities -$1.029B -$2.499B
YoY Change -58.82% 190.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000B $69.00M
YoY Change 1349.28%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.094B 2.433B
YoY Change -144.97% -344.52%
NET CHANGE
Cash From Operating Activities 1.342B 1.322B
Cash From Investing Activities -1.029B -2.499B
Cash From Financing Activities -1.094B 2.433B
Net Change In Cash -781.0M 1.256B
YoY Change -162.18% -241.76%
FREE CASH FLOW
Cash From Operating Activities $1.342B $1.322B
Capital Expenditures -$1.017B -$1.079B
Free Cash Flow $2.359B $2.401B
YoY Change -1.75% 30.99%

Facts In Submission

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CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
275000000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
287000000 shares
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
506000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1888000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1941000000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
626000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1941000000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
506000000 USD
fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
160000000 USD
fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
-27000000 USD
CY2016Q1 fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
53000000 USD
CY2015Q1 fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
-10000000 USD
CY2016Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
104000000 USD
CY2015Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
96000000 USD
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
304000000 USD
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
284000000 USD
CY2016Q1 fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
20000000 USD
CY2015Q1 fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
21000000 USD
fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
61000000 USD
fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
61000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
318000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
525000000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
107000000 USD
CY2016Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
177000000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
495000000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
495000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
245000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
1574000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
1921000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
1647000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
1659000000 USD
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
5881000000 USD
CY2016Q1 fdx Deposit And Progress Payments
DepositAndProgressPayments
363000000 USD
fdx Conditional Aircraft Commitments Boeing777
ConditionalAircraftCommitmentsBoeing777
9
fdx Conditional Aircraft Commitments Boeing767
ConditionalAircraftCommitmentsBoeing767
5
CY2016Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
12927000000 USD
fdx Aircraft Purchase Obligation With Delivery Within Fiscal Year
AircraftPurchaseObligationWithDeliveryWithinFiscalYear
1
fdx Aircraft Purchase Obligation With Delivery Due In Second Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInSecondFiscalYear
12
fdx Aircraft Purchase Obligation With Delivery Due In Third Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInThirdFiscalYear
18
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
775000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2383000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1915000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1670000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1421000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
8071000000 USD
CY2016Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
16235000000 USD
us-gaap Interest Paid Net
InterestPaidNet
284000000 USD
us-gaap Interest Paid Net
InterestPaidNet
196000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
919000000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
859000000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
3000000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
7000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
916000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
852000000 USD
CY2016Q1 fdx Spare Parts Supplies Fuel Prepaid Expenses And Other Net
SparePartsSuppliesFuelPrepaidExpensesAndOtherNet
1154000000 USD
CY2016Q1 fdx Otherlongtermliabilitiesnoncurrent
Otherlongtermliabilitiesnoncurrent
7030000000 USD
CY2016Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
8250000000 USD
CY2015Q2 fdx Otherlongtermliabilitiesnoncurrent
Otherlongtermliabilitiesnoncurrent
7123000000 USD
CY2015Q2 fdx Spare Parts Supplies Fuel Prepaid Expenses And Other Net
SparePartsSuppliesFuelPrepaidExpensesAndOtherNet
853000000 USD

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