XML 115 R95.htm IDEA: XBRL DOCUMENT v3.24.2
Business Segments and Disaggregated Revenue - Schedule of Segment Information (Details) - USD ($)
$ in Millions
12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Segment Reporting Information [Line Items]      
Revenues [1] $ 87,693 $ 90,155 $ 93,512
Depreciation and amortization 4,287 4,176 3,970
Operating income (loss) 5,559 [2] 4,912 [3] 6,245 [4]
Segment assets [5] 87,007 87,143 85,994
Capital expenditures 5,176 6,174 6,763
Operating Segments [Member] | FedEx Express Segment [Member]      
Segment Reporting Information [Line Items]      
Revenues 40,857 42,743 45,814
Depreciation and amortization 2,172 2,105 2,007
Operating income (loss) 776 [2] 1,064 [3] 2,922 [4]
Segment assets [5] 48,699 47,754 47,604
Capital expenditures 3,291 3,055 3,637
Operating Segments [Member] | FedEx Ground Segment [Member]      
Segment Reporting Information [Line Items]      
Revenues 34,256 33,507 33,232
Depreciation and amortization 1,119 1,020 919
Operating income (loss) 4,049 [2] 3,140 [3] 2,642 [4]
Segment assets [5] 17,884 36,815 32,645
Capital expenditures 1,018 1,995 2,139
Operating Segments [Member] | FedEx Freight Segment [Member]      
Segment Reporting Information [Line Items]      
Revenues 9,082 9,632 9,532
Depreciation and amortization 402 387 406
Operating income (loss) 1,814 [2] 1,925 [3] 1,663 [4]
Segment assets [5] 11,389 10,197 8,904
Capital expenditures 461 556 319
Operating Segments [Member] | FedEx Services Segment [Member]      
Segment Reporting Information [Line Items]      
Revenues 260 301 253
Depreciation and amortization 465 529 513
Segment assets [5] 7,078 7,415 8,389
Capital expenditures 282 431 565
Corporate, Other and Eliminations [Member]      
Segment Reporting Information [Line Items]      
Revenues 3,238 3,972 4,681
Depreciation and amortization 129 135 125
Operating income (loss) (1,080) [2] (1,217) [3] (982) [4]
Segment assets [5] 1,957 (15,038) (11,548)
Capital expenditures $ 124 $ 137 $ 103
[1] International revenue includes shipments that either originate in or are destined to locations outside the United States, which could include U.S. payors. Noncurrent assets include property and equipment, operating lease right-of-use assets, goodwill, and other long-term assets. Our flight equipment is registered in the U.S. and is included as U.S. assets; however, many of our aircraft operate internationally.
[2] Includes business optimization costs of $331 million included in “Corporate, other, and eliminations” and $143 million and $108 million included in the FedEx Express and FedEx Ground segments, respectively. Includes noncash asset impairment charges of $157 million related to the decision to permanently retire certain aircraft and related engines at FedEx Express. Also includes a $57 million benefit included in “Corporate, other, and eliminations” for an insurance reimbursement related to pre- and post-judgment interest in connection with a FedEx Ground legal matter.
[3] Includes business optimization costs of $262 million included in “Corporate, other, and eliminations” and business optimization and realignment costs of $11 million and $36 million, respectively, included in the FedEx Express segment. Includes noncash other asset impairment charges of $70 million related to the decision to permanently retire certain aircraft and related engines at FedEx Express and goodwill and other asset impairment charges of $47 million at FedEx Dataworks related to the ShopRunner acquisition. Also includes $35 million in connection with a FedEx Ground legal matter included in “Corporate, other, and eliminations.”
[4] Includes business realignment costs of $278 million included in the FedEx Express segment, as well as a charge of $210 million related to the pre- and post-judgment interest in connection with a separate FedEx Ground legal matter included in “Corporate, other, and eliminations.” Also includes TNT Express integration expenses of $132 million included in “Corporate, other, and eliminations” and the FedEx Express segment.
[5] Segment assets include intercompany receivables. In the fourth quarter of 2024, FedEx Ground settled an intercompany balance of $19.5 billion with FedEx in preparation for the one FedEx consolidation.