2017 Q3 Form 10-Q Financial Statement
#000156459017018835 Filed on September 20, 2017
Income Statement
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| Revenue | $15.30B | $14.66B |
| YoY Change | 4.32% | 19.42% |
| Cost Of Revenue | $3.445B | $3.890B |
| YoY Change | -11.44% | 27.29% |
| Gross Profit | $11.85B | $10.77B |
| YoY Change | 10.02% | 16.81% |
| Gross Profit Margin | 77.48% | 73.47% |
| Selling, General & Admin | $7.157B | $6.699B |
| YoY Change | 6.84% | 16.14% |
| % of Gross Profit | 60.39% | 62.18% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $751.0M | $739.0M |
| YoY Change | 1.62% | 14.04% |
| % of Gross Profit | 6.34% | 6.86% |
| Operating Expenses | $10.18B | $13.40B |
| YoY Change | -24.04% | 20.33% |
| Operating Profit | $971.0M | $1.264B |
| YoY Change | -23.18% | 10.49% |
| Interest Expense | -$114.0M | -$113.0M |
| YoY Change | 0.88% | 79.37% |
| % of Operating Profit | -11.74% | -8.94% |
| Other Income/Expense, Net | $11.00M | -$122.0M |
| YoY Change | -109.02% | 103.33% |
| Pretax Income | $982.0M | $1.142B |
| YoY Change | -14.01% | 5.35% |
| Income Tax | $386.0M | $427.0M |
| % Of Pretax Income | 39.31% | 37.39% |
| Net Earnings | $596.0M | $715.0M |
| YoY Change | -16.64% | 3.32% |
| Net Earnings / Revenue | 3.9% | 4.88% |
| Basic Earnings Per Share | $2.22 | $2.69 |
| Diluted Earnings Per Share | $2.19 | $2.65 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 268.0M | 265.0M |
| Diluted Shares Outstanding | 272.0M | 269.0M |
Balance Sheet
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $3.503B | $2.989B |
| YoY Change | 17.2% | -15.64% |
| Cash & Equivalents | $3.503B | $2.989B |
| Short-Term Investments | ||
| Other Short-Term Assets | $697.0M | $667.0M |
| YoY Change | 4.5% | -36.78% |
| Inventory | $516.0M | $512.0M |
| Prepaid Expenses | ||
| Receivables | $8.006B | $7.233B |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $12.72B | $11.40B |
| YoY Change | 11.59% | 6.52% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $26.24B | $24.80B |
| YoY Change | 5.77% | 15.46% |
| Goodwill | $6.783B | |
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $3.011B | $2.587B |
| YoY Change | 16.39% | 104.18% |
| Total Long-Term Assets | $36.63B | $34.17B |
| YoY Change | 7.18% | 28.75% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $12.72B | $11.40B |
| Total Long-Term Assets | $36.63B | $34.17B |
| Total Assets | $49.35B | $45.58B |
| YoY Change | 8.28% | 22.37% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.938B | $2.851B |
| YoY Change | 3.05% | 39.14% |
| Accrued Expenses | $3.177B | $4.576B |
| YoY Change | -30.57% | 21.03% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $19.00M | $47.00M |
| YoY Change | -59.57% | 235.71% |
| Total Short-Term Liabilities | $7.790B | $7.474B |
| YoY Change | 4.23% | 27.89% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $15.14B | $13.74B |
| YoY Change | 10.21% | 89.61% |
| Other Long-Term Liabilities | $458.0M | $8.462B |
| YoY Change | -94.59% | 19.3% |
| Total Long-Term Liabilities | $458.0M | $22.20B |
| YoY Change | -97.94% | 54.82% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $7.790B | $7.474B |
| Total Long-Term Liabilities | $458.0M | $22.20B |
| Total Liabilities | $8.248B | $31.43B |
| YoY Change | -73.76% | 43.12% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $21.16B | $18.86B |
| YoY Change | 12.16% | |
| Common Stock | $3.062B | $32.00M |
| YoY Change | 9468.75% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $7.275B | $7.494B |
| YoY Change | -2.92% | |
| Treasury Stock Shares | ||
| Shareholders Equity | $16.62B | $14.14B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $49.35B | $45.58B |
| YoY Change | 8.28% | 22.37% |
Cashflow Statement
| Concept | 2017 Q3 | 2016 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $596.0M | $715.0M |
| YoY Change | -16.64% | 3.32% |
| Depreciation, Depletion And Amortization | $751.0M | $739.0M |
| YoY Change | 1.62% | 14.04% |
| Cash From Operating Activities | $590.0M | $971.0M |
| YoY Change | -39.24% | -21.76% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$1.044B | -$1.215B |
| YoY Change | -14.07% | 0.5% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $6.000M | $9.000M |
| YoY Change | -33.33% | -10.0% |
| Cash From Investing Activities | -$1.038B | -$1.206B |
| YoY Change | -13.93% | 0.58% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | $134.0M | $106.0M |
| YoY Change | 26.42% | 49.3% |
| Common Stock Issuance & Retirement, Net | $86.00M | $222.0M |
| YoY Change | -61.26% | 16.84% |
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -88.00M | -313.0M |
| YoY Change | -71.88% | 39.73% |
| NET CHANGE | ||
| Cash From Operating Activities | 590.0M | 971.0M |
| Cash From Investing Activities | -1.038B | -1.206B |
| Cash From Financing Activities | -88.00M | -313.0M |
| Net Change In Cash | -536.0M | -548.0M |
| YoY Change | -2.19% | 201.1% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $590.0M | $971.0M |
| Capital Expenditures | -$1.044B | -$1.215B |
| Free Cash Flow | $1.634B | $2.186B |
| YoY Change | -25.25% | -10.78% |
Facts In Submission
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|---|---|---|---|---|
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Liabilities Current
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Long Term Debt And Capital Lease Obligations
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Self Insurance Accruals Noncurrent
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Deferred Rent Credit Noncurrent
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Other Liabilities Noncurrent
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Employee Related Liabilities Current
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Accrued Liabilities Current
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Deferred Tax Liabilities Gross Noncurrent
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Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Noncurrent
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Sale Leaseback Transaction Deferred Gain Net
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Commitments And Contingencies
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Fuel Costs
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Fuel Costs
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Cost Of Property Repairs And Maintenance
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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Common Stock Value
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Additional Paid In Capital Common Stock
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Retained Earnings Accumulated Deficit
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Treasury Stock Value
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Stockholders Equity
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Revenues
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Income Tax Expense Benefit
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Net Income Loss
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Net Income Loss
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Earnings Per Share Basic
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Earnings Per Share Basic
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Earnings Per Share Diluted
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Earnings Per Share Diluted
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Common Stock Dividends Per Share Declared
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Common Stock Dividends Per Share Declared
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0.80 | |
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Comprehensive Income Net Of Tax
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Comprehensive Income Net Of Tax
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Labor And Related Expense
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Share Based Compensation
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Deferred Income Taxes And Other Noncash Items
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Deferred Income Taxes And Other Noncash Items
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Increase Decrease In Receivables
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Increase Decrease In Other Operating Assets
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Increase Decrease In Other Operating Capital Net
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Increase Decrease In Other Operating Capital Net
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Net Cash Provided By Used In Operating Activities Continuing Operations
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Payments To Acquire Productive Assets
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Payments To Acquire Productive Assets
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Payments For Proceeds From Asset Dispositions And Other
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Payments For Proceeds From Asset Dispositions And Other
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Net Cash Provided By Used In Investing Activities Continuing Operations
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Net Cash Provided By Used In Investing Activities Continuing Operations
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Repayments Of Long Term Debt And Capital Securities
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Repayments Of Long Term Debt And Capital Securities
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Proceeds From Issuance Or Sale Of Equity
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|
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Proceeds From Issuance Or Sale Of Equity
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Payments Of Dividends
PaymentsOfDividends
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Payments Of Dividends
PaymentsOfDividends
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Payments For Repurchase Of Common Stock
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Payments For Repurchase Of Common Stock
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Proceeds From Payments For Other Financing Activities
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Cash And Cash Equivalents Period Increase Decrease
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Cash And Cash Equivalents Period Increase Decrease
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Loss Contingency Disclosures
LossContingencyDisclosures
|
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(8) <font style="text-decoration:underline;">Contingencies</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Independent Contractor — Lawsuits and Administrative Proceedings.<font style="font-style:normal;"> FedEx Ground is involved in lawsuits and administrative proceedings claiming that owner-operators engaged under a contractor model no longer in use should have been treated as employees of FedEx Ground, rather than independent contractors. </font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Most of the independent contractor class-action lawsuits were consolidated for certain proceedings before a single federal court, the U.S. District Court for the Northern District of Indiana. This multidistrict litigation court granted class certification in 28 cases, and after granting summary judgment in FedEx Ground’s favor on some (but not all) of the claims, remanded eight certified class actions back to the district courts where they were originally filed, leaving 20 cases to be administered by the multidistrict litigation court. Settlements in these 20 cases were reached during 2016 and 2017, and by the end of the first quarter of 2018, the multidistrict litigation court granted final approval of all 20 settlements. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Of the eight cases that were remanded to the district courts, seven of these matters settled for immaterial amounts and have received court approval. The remaining case that was remanded to California was appealed to the Ninth Circuit Court of Appeals, which granted summary judgment in favor of the plaintiffs. In June 2015, the parties in this case reached an agreement to settle the matter for $228 million. The court entered final judgment in June 2016, and two objectors to the settlement filed appeals with the Ninth Circuit. One objector has settled with plaintiffs’ counsel, and the court has indicated that it will schedule argument on the second objector’s appeal during the second quarter of 2018. The settlement is not effective until all appeals have been resolved without affecting the court’s approval of the settlement.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition, we are defending contractor-model cases that were not part of the multidistrict litigation, and we are defending joint-employer cases where it is alleged that FedEx Ground should be treated as an employer of the drivers employed by owner-operators engaged by FedEx Ground. These cases are in varying stages of litigation, and we are not currently able to estimate an amount or range of potential loss in all of these matters. However, we do not expect to incur, individually or in the aggregate, a material loss in these matters. Nevertheless, adverse determinations in matters related to owner-operators engaged by FedEx Ground could, among other things, entitle certain owner-operators to the reimbursement of certain expenses, and their drivers to the benefit of wage-and-hour laws, and result in employment and withholding tax and benefit liability for FedEx Ground. We believe that owner-operators engaged by FedEx Ground are properly classified as independent contractors and that FedEx Ground is not an employer of the drivers employed by these owner-operators.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">City and State of New York Cigarette Suit.<font style="font-style:normal;"> The City of New York and the State of New York filed two related lawsuits against FedEx Ground in December 2013 and November 2014 arising from FedEx Ground’s alleged shipments of cigarettes to New York residents in contravention of several statutes, including the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and New York’s Public Health Law, as well as common law nuisance claims. In April 2016, the two lawsuits were consolidated and will now proceed as one lawsuit. The first-filed lawsuit alleges that FedEx Ground provided delivery services on behalf of four shippers, and the second-filed lawsuit alleges that FedEx Ground provided delivery services on behalf of six additional shippers; none of these shippers continue to ship in our network. Following motions to dismiss filed in both lawsuits, some of the claims were dismissed entirely or limited. In the first-filed lawsuit, the New York Public Health Law and common law nuisance claims were dismissed and the plaintiffs voluntarily dismissed another claim. In the second-filed lawsuit, the common law nuisance claim was dismissed entirely and the New York Public Health Law claim has been limited to claims arising after September 27, 2013, when an amendment to that law provided enforcement authority to the City of New York and State of New York. Other claims, including the RICO claims, remain in both lawsuits. The likelihood of loss is reasonably possible, but the amount or range of loss, if any, cannot be estimated at this stage of the litigation, and we expect the amount of any loss to be immaterial. </font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 10, 2017, the City of New York and the State of New York filed a third lawsuit against FedEx Ground and included FedEx Freight as a co-defendant. This new case identifies no shippers or shipments, but generally alleges violations of the same laws that are the subject of the other two lawsuits. The amount or range of loss, if any, cannot be estimated at this stage of the lawsuit. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Environmental Matters<font style="font-style:normal;">. SEC regulations require disclosure of certain environmental matters when a governmental authority is a party to the proceedings and the proceedings involve potential monetary sanctions that management reasonably believes could exceed $100,000.</font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 9, 2016, FedEx Supply Chain received a written offer from several District Attorneys’ Offices in California to settle a civil action that the District Attorneys intend to file against FedEx Supply Chain for alleged violations of the state’s hazardous waste regulations. Specifically, the District Attorneys’ Offices allege FedEx Supply Chain unlawfully disposed of hazardous waste at one of its California facilities and caused the illegal transportation and disposal of hazardous waste from the retail stores of a FedEx Supply Chain customer at this same facility. The District Attorneys allege these violations began in 2006 and continued until the facility closed in the spring of 2015. We believe an immaterial loss in this matter is probable, and we will pursue all available remedies against the sellers of GENCO to recover any losses in this matter. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Other Matters. <font style="font-style:normal;">During the third quarter of 2017, FedEx Trade Networks informed U.S. Customs and Border Protection (“CBP”) that in connection with certain customs entries it may have made improper claims for (i) reduced-duty treatment and (ii) duty-free treatment. In the fourth quarter of 2017 we established accruals totaling $39.3 million for the then-current estimated probable loss for these matters. In the first quarter of 2018, FedEx Trade Networks tendered payments to CBP in these matters totaling $46.5 million, and an additional expense of $7.2 million was recognized. CBP acknowledged receipt of the amounts tendered in these matters, and we are awaiting a response indicating whether these matters are fully resolved. </font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FedEx and its subsidiaries are subject to other legal proceedings that arise in the ordinary course of business, including certain lawsuits containing various class-action allegations of wage-and-hour violations in which plaintiffs claim, among other things, that they were forced to work “off the clock,” were not paid overtime or were not provided work breaks or other benefits. In the opinion of management, the aggregate liability, if any, with respect to these other actions will not have a material adverse effect on our financial position, results of operations or cash flows. </p></div> | |
| CY2017Q3 | fdx |
Anticipated Lease Liability And Related Right Of Use Asset
AnticipatedLeaseLiabilityAndRelatedRightOfUseAsset
|
13000000000 | |
| CY2017Q3 | us-gaap |
Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
|
25000000 | |
| CY2017Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
400000 | |
| CY2017Q3 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
207.92 | |
| CY2017Q3 | us-gaap |
Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
|
15600000 | |
| CY2017Q3 | us-gaap |
Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
|
2017-08-18 | |
| CY2017Q3 | us-gaap |
Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
|
0.50 | |
| CY2017Q3 | us-gaap |
Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
|
2017-10-02 | |
| CY2017Q3 | us-gaap |
Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
|
2017-09-11 | |
| CY2017Q3 | us-gaap |
Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
|
2020-11-13 | |
| CY2017Q3 | fdx |
Letter Of Credit Maximum Sublimit Amount
LetterOfCreditMaximumSublimitAmount
|
500000000 | |
| CY2017Q3 | fdx |
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio Maximum
DebtToEarningsBeforeInterestTaxDepreciationAndAmortizationRatioMaximum
|
3.5 | |
| CY2017Q3 | fdx |
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio
DebtToEarningsBeforeInterestTaxDepreciationAndAmortizationRatio
|
1.9 | |
| CY2017Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
317000000 | |
| CY2017Q3 | us-gaap |
Commercial Paper Noncurrent
CommercialPaperNoncurrent
|
0 | |
| CY2017Q3 | fdx |
Letter Of Credit Outstanding Sublimit Unused Amount
LetterOfCreditOutstandingSublimitUnusedAmount
|
183000000 | |
| CY2017Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
15100000000 | |
| CY2017Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
14900000000 | |
| CY2017Q3 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
15900000000 | |
| CY2017Q2 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
15500000000 | |
| CY2017Q3 | us-gaap |
Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
|
0.036 | |
| CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
595000000 | |
| CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
714000000 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
268000000 | |
| CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
265000000 | |
| CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
595000000 | |
| CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
714000000 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
4000000 | |
| CY2016Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
4000000 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
272000000 | |
| CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
269000000 | |
| CY2017Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3200000 | |
| CY2016Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5100000 | |
| CY2017Q3 | fdx |
Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
|
37000000 | |
| CY2016Q3 | fdx |
Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
|
58000000 | |
| CY2017Q3 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
127000000 | |
| CY2016Q3 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
119000000 | |
| CY2017Q3 | fdx |
Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
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19000000 | |
| CY2016Q3 | fdx |
Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
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19000000 | |
| CY2017Q3 | us-gaap |
Pension And Other Postretirement Benefit Expense
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|
183000000 | |
| CY2016Q3 | us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
196000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
|
2648000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
|
2349000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
|
2417000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
|
1711000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
|
1479000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
|
3383000000 | |
| CY2017Q3 | us-gaap |
Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
|
13987000000 | |
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Conditional Aircraft Commitments Boeing767
ConditionalAircraftCommitmentsBoeing767
|
4 | |
| CY2017Q3 | fdx |
Conditional Aircraft Commitments Boeing777
ConditionalAircraftCommitmentsBoeing777
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6 | |
| CY2017Q3 | fdx |
Deposit And Progress Payments
DepositAndProgressPayments
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860000000 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Within Remainder Of Fiscal Year
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|
15 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Due In Second Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInSecondFiscalYear
|
17 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Due In Third Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInThirdFiscalYear
|
19 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Due In Fourth Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInFourthFiscalYear
|
13 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Due In Fifth Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInFifthFiscalYear
|
14 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation With Delivery Due After Fifth Fiscal Year
AircraftPurchaseObligationWithDeliveryDueAfterFifthFiscalYear
|
6 | |
| CY2017Q3 | fdx |
Aircraft Purchase Obligation
AircraftPurchaseObligation
|
84 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
1978000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
2315000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
2016000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1790000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
1616000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
8826000000 | |
| CY2017Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
18541000000 | |
| CY2017Q3 | us-gaap |
Loss Contingency Claims Settled Number
LossContingencyClaimsSettledNumber
|
20 | |
| CY2017Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
153000000 | |
| CY2016Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
143000000 | |
| CY2017Q3 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
96000000 | |
| CY2016Q3 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
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80000000 | |
| CY2017Q3 | us-gaap |
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ProceedsFromIncomeTaxRefunds
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10000000 | |
| CY2016Q3 | us-gaap |
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ProceedsFromIncomeTaxRefunds
|
8000000 | |
| CY2017Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
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86000000 | |
| CY2016Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
72000000 | |
| CY2017Q3 | us-gaap |
Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
|
15000000000 | |
| CY2017Q3 | fdx |
Spare Parts Supplies Fuel Prepaid Expenses And Other Net
SparePartsSuppliesFuelPrepaidExpensesAndOtherNet
|
1213000000 | |
| CY2017Q3 | us-gaap |
Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
|
7075000000 | |
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Spare Parts Supplies Fuel Prepaid Expenses And Other Net
SparePartsSuppliesFuelPrepaidExpensesAndOtherNet
|
1060000000 | |
| CY2017Q2 | us-gaap |
Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
|
7167000000 |
