10-Q Filing

FEDEX CORP CIK: 1048911 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-023207`
Period End Date	20180831
Filing Date	20180917
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	fdx-20180831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 40 Cash Flow Statement 51 Comprehensive Income 14

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowances for receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$296.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.27B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.97B	USD	Point-in-time
Allowances for receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$401.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.37B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time
Receivables, less allowances of $296 and $401	`ReceivablesNetCurrent`	$8.72B	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$271.00M	USD	Point-in-time
Allowances for spare parts, supplies and fuel	`AllowancesForSparePartsSuppliesAndFuel`	$268.00M	USD	Point-in-time
Receivables, less allowances of $296 and $401	`ReceivablesNetCurrent`	$8.48B	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $271 and $268	`SparePartsSuppliesAndFuelLessAllowances`	$525.00M	USD	Point-in-time
Spare parts, supplies and fuel, less allowances of $271 and $268	`SparePartsSuppliesAndFuelLessAllowances`	$523.00M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03B	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.07B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.64B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.34B	USD	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$56.33B	USD	Point-in-time
PROPERTY AND EQUIPMENT, AT COST	`PropertyPlantAndEquipmentGross`	$55.12B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	318.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	318.00M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$27.55B	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$26.97B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$28.15B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$28.78B	USD	Point-in-time
Goodwill	`Goodwill`	$6.87B	USD	Point-in-time
Goodwill	`Goodwill`	$6.97B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.61B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.86B	USD	Point-in-time
Total other long-term assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$10.48B	USD	Point-in-time
Total other long-term assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$10.84B	USD	Point-in-time
ASSETS	`Assets`	$52.33B	USD	Point-in-time
ASSETS	`Assets`	$51.90B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$299.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.34B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.40B	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.69B	USD	Point-in-time
Accrued salaries and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.18B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.98B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.07B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.13B	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.15B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.61B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.63B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$15.24B	USD	Point-in-time
LONG-TERM DEBT, LESS CURRENT PORTION	`LongTermDebtAndCapitalLeaseObligations`	$15.24B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$2.95B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$2.87B	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$2.19B	USD	Point-in-time
Pension, postretirement healthcare and other benefit obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$1.96B	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceAccrualsNoncurrent`	$1.78B	USD	Point-in-time
Self-insurance accruals	`SelfInsuranceAccrualsNoncurrent`	$1.81B	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$551.00M	USD	Point-in-time
Deferred lease obligations	`DeferredRentCreditNoncurrent`	$557.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$156.00M	USD	Point-in-time
Deferred gains, principally related to aircraft transactions	`SaleLeasebackTransactionDeferredGainNet`	$121.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$534.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$448.00M	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$8.04B	USD	Point-in-time
Total other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$7.88B	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, 2018 and May 31, 2018	`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, 2018 and May 31, 2018	`CommonStockValue`	$32.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.12B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.15B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$25.32B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.82B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-578.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-763.00M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$7.98B	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$8.56B	USD	Point-in-time
Total common stockholders investment	`StockholdersEquity`	$19.17B	USD	Point-in-time
Total common stockholders investment	`StockholdersEquity`	$19.42B	USD	Point-in-time
LIABILITIES AND STOCKHOLDERS' INVESTMENT	`LiabilitiesAndStockholdersEquity`	$52.33B	USD	Point-in-time
LIABILITIES AND STOCKHOLDERS' INVESTMENT	`LiabilitiesAndStockholdersEquity`	$51.90B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$15.30B	USD	1 Quarter
REVENUES	`Revenues`	$17.05B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$5.66B	USD	1 Quarter
Salaries and employee benefits	`LaborAndRelatedExpense`	$6.26B	USD	1 Quarter
Purchased transportation	`CostOfGoodsAndServicesSold`	$3.97B	USD	1 Quarter
Purchased transportation	`CostOfGoodsAndServicesSold`	$3.44B	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$823.00M	USD	1 Quarter
Rentals and landing fees	`RentalsAndLandingFees`	$818.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$808.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$751.00M	USD	1 Quarter
Fuel	`FuelCosts`	$703.00M	USD	1 Quarter
Fuel	`FuelCosts`	$986.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$675.00M	USD	1 Quarter
Maintenance and repairs	`CostOfPropertyRepairsAndMaintenance`	$735.00M	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.40B	USD	1 Quarter
Other	`OtherCostAndExpenseOperating`	$2.27B	USD	1 Quarter
OPERATING EXPENSES	`CostsAndExpenses`	$14.33B	USD	1 Quarter
OPERATING EXPENSES	`CostsAndExpenses`	$15.98B	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$1.07B	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$971.00M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$-112.00M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$-114.00M	USD	1 Quarter
Other retirement plans income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-146.00M	USD	1 Quarter
Other retirement plans income	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-158.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-21.00M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-16.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$11.00M	USD	1 Quarter
OTHER INCOME (EXPENSE)	`NonoperatingIncomeExpense`	$30.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$982.00M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.10B	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$266.00M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$386.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$835.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$596.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.22	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.19	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.10	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE	`CommonStockDividendsPerShareDeclared`	$1.00	USD	1 Quarter
DIVIDENDS DECLARED PER COMMON SHARE	`CommonStockDividendsPerShareDeclared`	$1.30	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$835.00M	USD	1 Quarter
Net income	`ProfitLoss`	$596.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$808.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$751.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$82.00M	USD	1 Quarter
Provision for uncollectible accounts	`ProvisionForDoubtfulAccounts`	$60.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$62.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$68.00M	USD	1 Quarter
Deferred income taxes and other noncash items	`DeferredIncomeTaxesAndOtherNoncashItems`	$23.00M	USD	1 Quarter
Deferred income taxes and other noncash items	`DeferredIncomeTaxesAndOtherNoncashItems`	$97.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$380.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$271.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$120.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$142.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-540.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-584.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$31.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$23.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$701.00M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$590.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.04B	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.18B	USD	1 Quarter
Proceeds from asset dispositions and other	`PaymentsForProceedsFromAssetDispositionsAndOther`	$-6.00M	USD	1 Quarter
Proceeds from asset dispositions and other	`PaymentsForProceedsFromAssetDispositionsAndOther`	$-78.00M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.10B	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.04B	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$299.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.00M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$12.00M	USD	1 Quarter
Proceeds from stock issuances	`ProceedsFromIssuanceOrSaleOfEquity`	$25.00M	USD	1 Quarter
Proceeds from stock issuances	`ProceedsFromIssuanceOrSaleOfEquity`	$150.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$173.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$134.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$86.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$625.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$4.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-472.00M	USD	1 Quarter
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-88.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-24.00M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$70.00M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-466.00M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-896.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27B	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`	$2.37B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27B	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`	$2.37B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.50B	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$835.00M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$596.00M	USD	1 Quarter
Foreign currency translation adjustments, tax (benefit) expense	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-24.00M	USD	1 Quarter
Foreign currency translation adjustments, tax (benefit) expense	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$25.00M	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 $24 in 2018 and tax expense of $25 in 2017	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$109.00M	USD	1 Quarter
Amortization of prior service credit, tax benefit	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax`	$7.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax benefit of $24 in 2018 and tax expense of $25 in 2017	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-162.00M	USD	1 Quarter
Amortization of prior service credit, net of tax benefit of $7 in 2018 and $11 in 2017	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-23.00M	USD	1 Quarter
Amortization of prior service credit, net of tax benefit of $7 in 2018 and $11 in 2017	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$-19.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$90.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-185.00M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$686.00M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$650.00M	USD	1 Quarter

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