10-Q Filing

FEDEX CORP CIK: 1048911 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-018835`
Period End Date	20170831
Filing Date	20170920
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	fdx-20170831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 38 Cash Flow Statement 50 Comprehensive Income 14

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time
Allowances for receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$252.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.97B	USD	Point-in-time
Allowances for receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$334.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.99B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$243.00M	USD	Point-in-time
Receivables, less allowances of $334 and $252	`ReceivablesNetCurrent`	$8.01B	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$237.00M	USD	Point-in-time
Receivables, less allowances of $334 and $252	`ReceivablesNetCurrent`	$7.60B	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $243 and $237	`SparePartsSuppliesAndFuelLessAllowances`	$516.00M	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $243 and $237	`SparePartsSuppliesAndFuelLessAllowances`	$514.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$546.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$697.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.72B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.63B	USD	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$51.54B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$50.63B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$25.30B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	318.00M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$24.64B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	318.00M	shares	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$26.23B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$25.98B	USD	Point-in-time
Goodwill	`Goodwill`	$7.15B	USD	Point-in-time
Goodwill	`Goodwill`	$7.38B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.01B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.79B	USD	Point-in-time
Total other long-term assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$9.94B	USD	Point-in-time
Total other long-term assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$10.39B	USD	Point-in-time
ASSETS	`Assets`	$48.55B	USD	Point-in-time
ASSETS	`Assets`	$49.35B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$22.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$19.00M	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.66B	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.91B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.94B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.75B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.18B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.23B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.92B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$14.91B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$15.14B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$2.48B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$2.73B	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$4.49B	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$4.31B	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceAccrualsNoncurrent`	$1.60B	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceAccrualsNoncurrent`	$1.49B	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$531.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$575.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$126.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$137.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$458.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$518.00M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$9.80B	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$9.65B	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of August 31, 2017 and May 31, 2017	`CommonStockValue`	$32.00M	USD	Point-in-time
Common stock, $0.10 par value; 800 million shares authorized; 318 million shares issued as of August 31, 2017 and May 31, 2017	`CommonStockValue`	$32.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.00B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.03B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.83B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.16B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-325.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-415.00M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$7.38B	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$7.28B	USD	Point-in-time
Total common stockholders investment	`StockholdersEquity`	$16.62B	USD	Point-in-time
Total common stockholders investment	`StockholdersEquity`	$16.07B	USD	Point-in-time
LIABILITIES AND STOCKHOLDERS' INVESTMENT	`LiabilitiesAndStockholdersEquity`	$49.35B	USD	Point-in-time
LIABILITIES AND STOCKHOLDERS' INVESTMENT	`LiabilitiesAndStockholdersEquity`	$48.55B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$14.66B	USD	1 Quarter
REVENUES	`Revenues`	$15.30B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$5.31B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$5.52B	USD	1 Quarter
Purchased transportation	`ShippingHandlingAndTransportationCosts`	$3.24B	USD	1 Quarter
Purchased transportation	`ShippingHandlingAndTransportationCosts`	$3.44B	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$818.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$790.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$751.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$739.00M	USD	1 Quarter
Fuel	`FuelCosts`	$650.00M	USD	1 Quarter
Fuel	`FuelCosts`	$703.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$598.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$675.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.27B	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.07B	USD	1 Quarter
OPERATING EXPENSES	`CostsAndExpenses`	$13.40B	USD	1 Quarter
OPERATING EXPENSES	`CostsAndExpenses`	$14.18B	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$1.26B	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$1.12B	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$-113.00M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$-114.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-9.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-21.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-135.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$-122.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.14B	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$982.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$386.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$427.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$715.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$596.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.22	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.69	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.19	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.65	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE	`CommonStockDividendsPerShareDeclared`	$0.80	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$715.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$596.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$751.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$739.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$39.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$60.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$57.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$62.00M	USD	1 Quarter
Deferred income taxes and other noncash items	`DeferredIncomeTaxesAndOtherNoncashItems`	$97.00M	USD	1 Quarter
Deferred income taxes and other noncash items	`DeferredIncomeTaxesAndOtherNoncashItems`	$173.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$271.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-20.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$142.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-540.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-753.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$23.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$15.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$590.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$971.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.04B	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.22B	USD	1 Quarter
Proceeds from asset dispositions and other	`PaymentsForProceedsFromAssetDispositionsAndOther`	$-6.00M	USD	1 Quarter
Proceeds from asset dispositions and other	`PaymentsForProceedsFromAssetDispositionsAndOther`	$-9.00M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.21B	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.04B	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$12.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$12.00M	USD	1 Quarter
Proceeds from stock issuances	`ProceedsFromIssuanceOrSaleOfEquity`	$40.00M	USD	1 Quarter
Proceeds from stock issuances	`ProceedsFromIssuanceOrSaleOfEquity`	$150.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$134.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$106.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$222.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$86.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-13.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-313.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-88.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$70.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-545.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-466.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.97B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.97B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.99B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.53B	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$715.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$596.00M	USD	1 Quarter
Foreign currency translation adjustments, tax (expense) benefit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-4.00M	USD	1 Quarter
Foreign currency translation adjustments, tax (expense) benefit	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$25.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax benefit of $25 in 2017 and tax expense of $4 in 2016	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$109.00M	USD	1 Quarter
Amortization of prior service credit, tax benefit	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$11.00M	USD	1 Quarter
Amortization of prior service credit, tax benefit	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$11.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax benefit of $25 in 2017 and tax expense of $4 in 2016	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$12.00M	USD	1 Quarter
Amortization of prior service credit, net of tax benefit of $11 in 2017 and $11 in 2016	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-19.00M	USD	1 Quarter
Amortization of prior service credit, net of tax benefit of $11 in 2017 and $11 in 2016	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-19.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$90.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-7.00M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$708.00M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$686.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.