$FDX
FEDEX CORP

2021 Q1 Form 10-Q Financial Statement

#000156459021014160 Filed on March 18, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $21.51B $17.49B
YoY Change 23.01% 2.8%
Cost Of Revenue $6.416B $5.437B
YoY Change 18.01% 27.84%
Gross Profit $15.09B $12.05B
YoY Change 25.26% -5.54%
Gross Profit Margin 70.17% 68.91%
Selling, General & Admin $9.963B $8.030B
YoY Change 24.07% 5.64%
% of Gross Profit 66.01% 66.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $956.0M $908.0M
YoY Change 5.29% 6.7%
% of Gross Profit 6.33% 7.54%
Operating Expenses $14.08B $11.64B
YoY Change 20.96% 6.44%
Operating Profit $1.005B $411.0M
YoY Change 144.53% -54.88%
Interest Expense -$187.0M -$155.0M
YoY Change 20.65% 14.81%
% of Operating Profit -18.61% -37.71%
Other Income/Expense, Net $44.00M -$4.000M
YoY Change -1200.0% -120.0%
Pretax Income $1.049B $420.0M
YoY Change 149.76% -54.89%
Income Tax $157.0M $105.0M
% Of Pretax Income 14.97% 25.0%
Net Earnings $892.0M $315.0M
YoY Change 183.17% -57.37%
Net Earnings / Revenue 4.15% 1.8%
Basic Earnings Per Share $3.36 $1.21
Diluted Earnings Per Share $3.30 $1.20
COMMON SHARES
Basic Shares Outstanding 265.0M
Diluted Shares Outstanding 270.0M 262.0M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.856B $1.766B
YoY Change 401.47% -38.51%
Cash & Equivalents $8.856B $1.766B
Short-Term Investments
Other Short-Term Assets $790.0M $884.0M
YoY Change -10.63% -15.41%
Inventory $583.0M $568.0M
Prepaid Expenses
Receivables $11.48B $9.323B
Other Receivables $0.00 $0.00
Total Short-Term Assets $21.71B $12.54B
YoY Change 73.11% -7.1%
LONG-TERM ASSETS
Property, Plant & Equipment $49.95B $33.31B
YoY Change 49.98% 11.89%
Goodwill $6.814B
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.152B $3.372B
YoY Change 23.13% -21.21%
Total Long-Term Assets $61.08B $57.47B
YoY Change 6.28% 40.3%
TOTAL ASSETS
Total Short-Term Assets $21.71B $12.54B
Total Long-Term Assets $61.08B $57.47B
Total Assets $82.79B $70.01B
YoY Change 18.25% 28.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.990B $3.193B
YoY Change 24.96% 1.17%
Accrued Expenses $8.930B $3.423B
YoY Change 160.88% 5.55%
Deferred Revenue $9.000M $10.00M
YoY Change -10.0% 11.11%
Short-Term Debt $0.00 $300.0M
YoY Change -100.0% 33.33%
Long-Term Debt Due $646.0M $35.00M
YoY Change 1745.71% -96.4%
Total Short-Term Liabilities $13.57B $10.33B
YoY Change 31.39% 11.55%
LONG-TERM LIABILITIES
Long-Term Debt $22.80B $18.97B
YoY Change 20.15% 10.19%
Other Long-Term Liabilities $20.89B $18.78B
YoY Change 11.19% 3334.0%
Total Long-Term Liabilities $43.68B $37.76B
YoY Change 15.7% 6802.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.57B $10.33B
Total Long-Term Liabilities $43.68B $37.76B
Total Liabilities $60.81B $51.18B
YoY Change 18.81% 422.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.98B $18.83B
YoY Change
Total Liabilities & Shareholders Equity $82.79B $70.01B
YoY Change 18.25% 28.55%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $892.0M $315.0M
YoY Change 183.17% -57.37%
Depreciation, Depletion And Amortization $956.0M $908.0M
YoY Change 5.29% 6.7%
Cash From Operating Activities $2.162B $1.204B
YoY Change 79.57% 5.24%
INVESTING ACTIVITIES
Capital Expenditures -$1.376B -$1.439B
YoY Change -4.38% 28.14%
Acquisitions
YoY Change
Other Investing Activities -$151.0M $11.00M
YoY Change -1472.73% 22.22%
Cash From Investing Activities -$1.527B -$1.428B
YoY Change 6.93% 28.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -152.0M -34.00M
YoY Change 347.06% -104.89%
NET CHANGE
Cash From Operating Activities 2.162B 1.204B
Cash From Investing Activities -1.527B -1.428B
Cash From Financing Activities -152.0M -34.00M
Net Change In Cash 483.0M -258.0M
YoY Change -287.21% -135.59%
FREE CASH FLOW
Cash From Operating Activities $2.162B $1.204B
Capital Expenditures -$1.376B -$1.439B
Free Cash Flow $3.538B $2.643B
YoY Change 33.86% 16.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Asset Impairment Charges
AssetImpairmentCharges
66000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
66000000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
7872000000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-443000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1988000000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.17
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.60
us-gaap Net Income Loss
NetIncomeLoss
1620000000
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-3000000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-12000000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
19000000
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
-61000000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-73000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1547000000
us-gaap Profit Loss
ProfitLoss
1620000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2688000000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
295000000
us-gaap Share Based Compensation
ShareBasedCompensation
137000000
fdx Retirement Plans Market To Market Adjustment
RetirementPlansMarketToMarketAdjustment
52000000
fdx Other Noncash Items And Deferred Income Taxes
OtherNoncashItemsAndDeferredIncomeTaxes
1758000000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
149000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3278000000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
504000000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4705000000
fdx Payments For Proceeds From Asset Dispositions And Other
PaymentsForProceedsFromAssetDispositionsAndOther
-88000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4339000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
368000000
us-gaap Net Income Loss
NetIncomeLoss
1620000000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.21
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
225000000
fdx Payments For Proceeds From Asset Dispositions And Other
PaymentsForProceedsFromAssetDispositionsAndOther
-15000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4690000000
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
298000000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
105000000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1045000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
970000000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2093000000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
482000000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
38000000
us-gaap Payments Of Dividends
PaymentsOfDividends
513000000
us-gaap Payments Of Dividends
PaymentsOfDividends
509000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3000000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
867000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
101000000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-8000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3975000000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-553000000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8856000000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1766000000
CY2021Q1 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
677000000
CY2020Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
563000000
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
544000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51859000000
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
456000000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9000000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
10000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17487000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
61394000000
CY2019Q4 fdx Number Of Aircraft To Be Permanently Retired From Service
NumberOfAircraftToBePermanentlyRetiredFromService
10
CY2019Q4 fdx Number Of Aircraft Engines To Be Permanently Retired From Service
NumberOfAircraftEnginesToBePermanentlyRetiredFromService
12
CY2019Q4 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
66000000
CY2019Q4 fdx Impairment Of Long Lived Assets To Be Disposed Of Net Of Tax
ImpairmentOfLongLivedAssetsToBeDisposedOfNetOfTax
50000000
CY2019Q4 fdx Impairment Of Long Lived Assets To Be Disposed Of Net Of Tax Per Diluted Share
ImpairmentOfLongLivedAssetsToBeDisposedOfNetOfTaxPerDilutedShare
0.19
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
40000000
us-gaap Share Based Compensation
ShareBasedCompensation
161000000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
33000000
us-gaap Share Based Compensation
ShareBasedCompensation
137000000
CY2021Q1 fdx Restructuring Plan Execution Period
RestructuringPlanExecutionPeriod
P18M
CY2021Q1 fdx Business Realignment Costs
BusinessRealignmentCosts
10000000
CY2021Q1 fdx Business Realignment Costs Net Of Tax
BusinessRealignmentCostsNetOfTax
8000000
CY2021Q1 fdx Business Realignment Costs Per Diluted Share
BusinessRealignmentCostsPerDilutedShare
0.03
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
137000000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
428000000
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
87000000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
295000000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
329000000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
175000000
CY2021Q1 us-gaap Derivative Instruments In Hedges At Fair Value Net
DerivativeInstrumentsInHedgesAtFairValueNet
640000000
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
25000000
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2021Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
5100000
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2021-02-12
CY2021Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.65
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2021-04-01
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2021-03-08
CY2021Q1 fdx Number Of Boeing Aircraft
NumberOfBoeingAircraft
19
CY2021Q1 fdx Net Book Valve Of Collateralized Boeing Aircraft
NetBookValveOfCollateralizedBoeingAircraft
1900000000
CY2021Q1 fdx Letter Of Credit Maximum Sublimit Amount
LetterOfCreditMaximumSublimitAmount
250000000
CY2021Q1 fdx Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio Maximum
DebtToEarningsBeforeInterestTaxDepreciationAndAmortizationRatioMaximum
4.75
CY2021Q1 fdx Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio
DebtToEarningsBeforeInterestTaxDepreciationAndAmortizationRatio
2.45
CY2021Q1 us-gaap Commercial Paper
CommercialPaper
0
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
200000
CY2021Q1 fdx Long Term Debt Including Current Maturities
LongTermDebtIncludingCurrentMaturities
22900000000
CY2020Q2 fdx Long Term Debt Including Current Maturities
LongTermDebtIncludingCurrentMaturities
21500000000
CY2021Q1 fdx Long Term Debt Including Current Maturities Fair Value
LongTermDebtIncludingCurrentMaturitiesFairValue
25900000000
CY2020Q2 fdx Long Term Debt Including Current Maturities Fair Value
LongTermDebtIncludingCurrentMaturitiesFairValue
22800000000
CY2021Q1 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.035
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
889000000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
314000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3356000000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1617000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
263000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
261000000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.36
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
12.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.21
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
889000000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
314000000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3356000000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1617000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
263000000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
261000000
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5000000
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4000000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
270000000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
262000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
267000000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
262000000
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.30
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
12.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.17
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000.0
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11200000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.150
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.172
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.250
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.185
CY2021Q1 fdx Income Tax Rate Reconciliation Repatriation Of Foreign Earnings And Voluntary Contributions To Domestic Pension Plans
IncomeTaxRateReconciliationRepatriationOfForeignEarningsAndVoluntaryContributionsToDomesticPensionPlans
108000000
fdx Tax Benefit From Reduction Of Valuation Allowance
TaxBenefitFromReductionOfValuationAllowance
133000000
CY2019 fdx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Recognition Of Cumulative Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingRecognitionOfCumulativeBenefit
233000000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
493000000
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
425000000
CY2021Q1 fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
21000000
CY2020Q1 fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
21000000
fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
62000000
fdx Postretirement Healthcare Plans Net Periodic Benefit Cost
PostretirementHealthcarePlansNetPeriodicBenefitCost
64000000
fdx Retirement Plans Market To Market Adjustment
RetirementPlansMarketToMarketAdjustment
52000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
11663000000
CY2021Q1 fdx Deposit And Progress Payments
DepositAndProgressPayments
983000000
fdx Aircraft Purchase Obligation With Delivery Within Remainder Of Fiscal Year
AircraftPurchaseObligationWithDeliveryWithinRemainderOfFiscalYear
9
CY2021Q1 fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
20000000
CY2020Q1 fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
38000000
fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
72000000
fdx Pension Plan Net Periodic Benefit Cost
PensionPlanNetPeriodicBenefitCost
112000000
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
182000000
CY2020Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
147000000
CY2021Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
223000000
CY2020Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
206000000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
679000000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
601000000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21510000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17487000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
61394000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51859000000
us-gaap Operating Income Loss
OperatingIncomeLoss
4060000000
us-gaap Operating Income Loss
OperatingIncomeLoss
1942000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
461000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
2965000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
2917000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
1335000000
CY2021Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
728000000
CY2021Q1 fdx Unrecorded Unconditional Purchase Obligation To Be Paid After Year Four
UnrecordedUnconditionalPurchaseObligationToBePaidAfterYearFour
3257000000
fdx Aircraft Purchase Obligation With Delivery Due In First Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInFirstFiscalYear
33
fdx Aircraft Purchase Obligation With Delivery Due In Second Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInSecondFiscalYear
33
fdx Aircraft Purchase Obligation With Delivery Due In Third Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInThirdFiscalYear
26
fdx Aircraft Purchase Obligation With Delivery Due In Fourth Fiscal Year
AircraftPurchaseObligationWithDeliveryDueInFourthFiscalYear
20
fdx Aircraft Purchase Obligation With Delivery Due After Fourth Fiscal Year
AircraftPurchaseObligationWithDeliveryDueAfterFourthFiscalYear
6
fdx Aircraft Purchase Obligation
AircraftPurchaseObligation
127
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
509000000
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
10000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due Remainder Of Fiscal Year
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueRemainderOfFiscalYear
519000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2624000000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
107000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due Due Next Twelve Months
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueDueNextTwelveMonths
2731000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2305000000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
26000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due Year Two
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearTwo
2331000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1946000000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
25000000
CY2021Q1 fdx Lessee Operating Lease And Finance Liability Payments Due Year Three
LesseeOperatingLeaseAndFinanceLiabilityPaymentsDueYearThree
1971000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1688000000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
24000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due Year Four
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFour
1712000000
CY2021Q1 fdx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
8475000000
CY2021Q1 fdx Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
707000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due After Year Four
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
9182000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17547000000
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
899000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Payments Due
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDue
18446000000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2424000000
CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
373000000
CY2021Q1 fdx Lessee Operating Lease And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseAndFinanceLeaseLiabilityUndiscountedExcessAmount
2797000000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
15123000000
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
526000000
CY2021Q1 fdx Operating Lease And Finance Lease Liability
OperatingLeaseAndFinanceLeaseLiability
15649000000
CY2021Q1 fdx Lessee Operating And Finance Lease Lease Not Yet Commenced Undiscounted Future Payments
LesseeOperatingAndFinanceLeaseLeaseNotYetCommencedUndiscountedFuturePayments
1700000000
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<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;">(10) <span style="text-decoration:underline;">Contingencies</span></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;">Service Provider Lawsuits<span style="font-style:normal;">. FedEx Ground is defending lawsuits in which it is alleged that FedEx Ground should be treated as a joint employer of drivers employed by service providers 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 these matters could, among other things, entitle service providers’ drivers to certain wage payments from the service providers and FedEx Ground, and result in employment and withholding tax and benefit liability for FedEx Ground. We continue to believe that FedEx Ground is not an employer or joint employer of the drivers of these independent businesses.</span></p> <p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;"><span style="font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Federal Securities Litigation</span><span style="font-style:normal;">. On June 26, 2019 and July 2, 2019, FedEx and certain present and former officers were named as defendants in two putative class action securities lawsuits filed in the U.S. District Court for the Southern District of New York. The complaints, which </span><span style="font-style:normal;">were subsequently</span><span style="font-style:normal;"> consolidated, allege</span><span style="font-style:normal;">d</span><span style="font-style:normal;"> violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder relating to alleged misstatements or omissions in FedEx’s public filings with the SEC and other public statements during the period from September 19, 2017 to December 18, 2018. </span><span style="font-style:normal;">On February 4, 2021, the consolidated lawsuit was dismissed with prejudice.</span><span style="font-style:normal;"> The plaintiff did not appeal the dismissal by the deadline.</span></p> <p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Derivative Lawsuit Related to New York Cigarette Litigation<span style="font-style:normal;">. On October 3, 2019, FedEx and certain present and former FedEx directors and officers were named as defendants in a stockholder derivative lawsuit filed in the Delaware Court of Chancery. The complaint alleges the defendants breached their fiduciary duties in connection with the activities alleged in lawsuits filed by the City of New York and the State of New York against FedEx Ground in December 2013 and November 2014 and against FedEx Ground and FedEx Freight in July 2017. The underlying lawsuits related to the alleged shipment of cigarettes to New York residents in contravention of several statutes, as well as common law nuisance claims, and were dismissed by the court in December 2018 following entry into a final settlement agreement for approximately $35 million. The settlement did not include any admission of liability by FedEx Ground or FedEx Freight. In addition to the settlement amount, we recognized approximately $10 million for certain attorney’s fees in connection with the underlying lawsuits. We are not currently able to estimate the probability of loss or the amount or range of potential loss, if any, at this stage of the lawsuit. </span></p> <p style="margin-top:9pt;margin-bottom: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<span style="font-style: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, as well as lawsuits containing allegations that FedEx and its subsidiaries are responsible for third-party losses related to vehicle accidents that could exceed our insurance coverage for such losses. 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.</span></p> <p style="margin-top:9pt;margin-bottom: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. <span style="color:#000000;font-style:normal;">SEC regulations require us to disclose certain information about proceedings arising under federal, state, or local environmental provisions if we reasonably believe that such proceedings may result in monetary sanctions above a stated threshold. Pursuant to the SEC regulations, FedEx uses a threshold of </span><span style="font-style:normal;color:#000000;">$1</span><span style="color:#000000;"> </span><span style="font-style:normal;color:#000000;">million</span><span style="color:#000000;font-style:normal;"> or more for purposes of determining whether disclosure of any such proceedings is required. </span><span style="font-style:normal;">Applying this threshold, there are no environmental matters required to be disclosed for this period</span>.</p>
us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
35000000
fdx Attorneys Fees Recognized In Connection With Underlying Lawsuits
AttorneysFeesRecognizedInConnectionWithUnderlyingLawsuits
10000000
CY2021Q1 fdx Environmental Contingencies Threshold Amount
EnvironmentalContingenciesThresholdAmount
1000000
us-gaap Interest Paid Net
InterestPaidNet
593000000
us-gaap Interest Paid Net
InterestPaidNet
511000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
934000000
us-gaap Income Taxes Paid
IncomeTaxesPaid
291000000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
42000000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
321000000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
892000000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-30000000

Files In Submission

Name View Source Status
0001564590-21-014160-index-headers.html Edgar Link pending
0001564590-21-014160-index.html Edgar Link pending
0001564590-21-014160.txt Edgar Link pending
0001564590-21-014160-xbrl.zip Edgar Link pending
d128910dex101.htm Edgar Link pending
d128910dex102.htm Edgar Link pending
d128910dex103.htm Edgar Link pending
d128910dex104.htm Edgar Link pending
d128910dex105.htm Edgar Link pending
d128910dex106.htm Edgar Link pending
d128910dex107.htm Edgar Link pending
d128910dex108.htm Edgar Link pending
fdx-10q_20210228.htm Edgar Link pending
fdx-10q_20210228_htm.xml Edgar Link completed
fdx-20210228.xsd Edgar Link pending
fdx-20210228_cal.xml Edgar Link unprocessable
fdx-20210228_def.xml Edgar Link unprocessable
fdx-20210228_lab.xml Edgar Link unprocessable
fdx-20210228_pre.xml Edgar Link unprocessable
fdx-ex151_7.htm Edgar Link pending
fdx-ex22_8.htm Edgar Link pending
fdx-ex311_10.htm Edgar Link pending
fdx-ex312_19.htm Edgar Link pending
fdx-ex321_12.htm Edgar Link pending
fdx-ex322_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gvtmxi1pgejd000001.jpg Edgar Link pending
gvtmxi1pgejd000002.jpg Edgar Link pending
gvtmxi1pgejd000003.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending