FedEx Corporation (FDX) Financial Statements (2024 and earlier)

Company Profile

Business Address 942 SOUTH SHADY GROVE ROAD
MEMPHIS, TN 38120-
State of Incorp. DE
Fiscal Year End May 31
Industry (SIC) 4513 - Air Courier Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

2/29/2024
MRQ
11/30/2023
MRQ
5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,7296,8566,8977,0874,8812,319
Cash and cash equivalents6,7296,8566,8977,0874,8812,319
Receivables10,66510,18811,86312,06910,1029,116
Other undisclosed current assets1,7231,5661,6051,4241,4001,651
Total current assets:19,11718,61020,36520,58016,38313,086
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization  821455504480
Operating lease, right-of-use asset17,24317,34716,61315,38313,917
Property, plant and equipment41,53240,69838,09135,75233,60830,429
Intangible assets, net (including goodwill)6,4686,6696,8457,3146,6947,300
Goodwill6,4686,4356,5446,9926,3726,884
Intangible assets, net (excluding goodwill)  234301322322416
Deferred income tax assets  1,1631,2071,4181,347
Other noncurrent assets3,6914,0534,3814,0703,2574,004
Other undisclosed noncurrent assets  (2,218)(1,963)(2,244)(2,149)(416)
Total noncurrent assets:68,93468,53365,62962,19757,15441,317
TOTAL ASSETS:88,05187,14385,99482,77773,53754,403
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities8,7498,59511,74911,3068,3708,049
Employee-related liabilities2,5312,9031,5691,741
Accounts payable4,0023,8484,0303,8413,2693,030
Accrued liabilities4,7474,7475,1884,5623,5323,278
Deferred revenue21198910
Debt3341268214651964
Other undisclosed current liabilities5,1444,8462,4352,1991,913 
Total current liabilities:14,24813,58614,27413,66010,3449,013
Noncurrent Liabilities
Long-term debt and lease obligation, including:20,19320,45320,18220,73321,95216,617
Long-term debt, excluding current maturities      8,195
Finance lease, liability  725436429434
Other undisclosed long-term debt and lease obligation20,19319,7285,2596,9299,3238,422
Liabilities, other than long-term debt, including:26,84427,01626,5998,4118,64711,016
Deferred rent credit      531
Deferred tax liabilities, net1,481
Deferred income tax liabilities4,3864,4894,0933,9273,162
Liability, pension and other postretirement and postemployment benefits2,8543,1304,4483,5015,0195,095
Other liabilities694695682983466571
Operating lease, liability15,22215,36314,48713,37512,195
Other undisclosed liabilities, other than long-term debt3,6883,33917,376  3,338
Total noncurrent liabilities:47,03747,46946,78129,14430,59927,633
Total liabilities:61,28561,05561,05542,80440,94336,646
Equity
Equity, attributable to parent26,76626,08824,93924,16818,29517,757
Common stock323232323232
Treasury stock, value(12,426)(11,645)(10,484)(8,430)(9,162)(9,289)
Additional paid in capital3,8493,7693,7123,4813,3563,231
Accumulated other comprehensive loss(1,294)(1,327)(1,103)(732)(1,147)(865)
Retained earnings36,60535,25932,78229,81725,21624,648
Total equity:26,76626,08824,93924,16818,29517,757
Other undisclosed liabilities and equity    15,80514,299 
TOTAL LIABILITIES AND EQUITY:88,05187,14385,99482,77773,53754,403

Income Statement (P&L) ($ in millions)

2/29/2024
TTM
11/30/2023
TTM
5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
Revenues87,94590,15593,51283,95969,21769,693
Cost of revenue(68,142)(69,897)(72,482)(64,599)(54,447)(50,690)
Cost of goods and services sold(8,172)(9,266)(8,487)(6,210)(6,049)(16,654)
Gross profit:19,80320,25821,03019,36014,77019,003
Operating expenses(14,497)(15,346)(14,785)(13,503)(12,353)(14,537)
Operating income:5,3064,9126,2455,8572,4174,466
Nonoperating income (expense)469451(1,349)817(748)(3,811)
Investment income, nonoperating  19853525559
Net periodic defined benefits expense (reversal of expense), excluding service cost component1821,054(726)1,983(122)(3,251)
Other nonoperating income (expense)(28)(107)13(32)(9)(31)
Interest and debt expense  (694)(689)(393)(672)(588)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(694)  393672588
Income from continuing operations before equity method investments, income taxes:5,0814,6694,2076,6741,669655
Other undisclosed income from continuing operations before income taxes694694689   
Income from continuing operations before income taxes:5,7755,3634,8966,6741,669655
Income tax expense(1,488)(1,391)(1,070)(1,443)(383)(115)
Income from continuing operations:4,2873,9723,8265,2311,286540
Income before gain (loss) on sale of properties:3,8265,2311,286540
Net income attributable to parent:4,2873,9723,8265,2311,286540
Other undisclosed net loss available to common stockholders, basic(6)(6)(7)(11)(2)(1)
Net income available to common stockholders, basic:4,2813,9663,8195,2201,284539
Other undisclosed net income available to common stockholders, diluted    1  
Net income available to common stockholders, diluted:4,2813,9663,8195,2211,284539

Comprehensive Income ($ in millions)

2/29/2024
TTM
11/30/2023
TTM
5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
Net income:4,2873,9723,8265,2311,286540
Other comprehensive income (loss)(37)(27)19(10)4357
Comprehensive income:4,2503,9453,8455,2211,329597
Other undisclosed comprehensive income (loss), net of tax, attributable to parent128(197)(390)425(376)(344)
Comprehensive income, net of tax, attributable to parent:4,3783,7483,4555,646953253

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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