Business Segments and Disaggregated Revenue (Tables)

12 Months Ended

May 31, 2019

Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]

The following table provides a reconciliation of reportable segment revenues, depreciation and amortization, operating income (loss) and segment assets to consolidated financial statement totals (in millions) for the years ended or as of May 31:

	FedEx Express Segment		FedEx Ground Segment		FedEx Freight Segment			FedEx Services Segment		Corporate, other and eliminations				Consolidated Total
Revenues
2019	$	37,331	$	20,522	$	7,582		$	1,691	$	2,567			$	69,693
2018		36,172		18,395		6,812			1,650		2,421				65,450
2017		33,824		16,503		6,070			1,621		2,301				60,319
Depreciation and amortization
2019	$	1,801	$	728	$	332		$	424	$	68			$	3,353
2018		1,679		681		296			382		57				3,095
2017		1,662		627		265			371		70				2,995
Operating income (loss)
2019⁽¹⁾	$	2,123	$	2,640	$	615		$	—	$	(912	)		$	4,466
2018⁽²⁾		2,105		2,529		490			—		(852	)			4,272
2017⁽³⁾		2,380		2,243		371			—		(428	)			4,566
Segment assets⁽⁴⁾
2019	$	33,247	$	17,561	$	4,736		$	6,972	$	(8,113	)		$	54,403
2018		31,753		15,458		4,251	⁽⁵⁾		6,377		(5,509	)	⁽⁵⁾		52,330
2017		31,307		12,969		3,740	⁽⁵⁾		5,682		(5,146	)	⁽⁵⁾		48,552

⁽¹⁾

Includes TNT Express integration expenses and restructuring charges of $388 million. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes business realignment costs of $320 million and costs incurred in connection with the settlement of a legal matter involving FedEx Ground of $46 million.

⁽²⁾	Includes TNT Express integration expenses and restructuring charges of $477 million. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.

⁽³⁾

Includes TNT Express integration expenses and restructuring charges of $327 million. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain U.S. Customs and Border Protection (“CBP”) matters involving FedEx Logistics and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground.

⁽⁴⁾	Segment assets include intercompany receivables.

⁽⁵⁾	Amounts revised for reclassification of eliminations.

Schedule of Segment Capital Expenditures

The following table provides a reconciliation of reportable segment capital expenditures to consolidated totals for the years ended May 31 (in millions):

	FedEx Express Segment		FedEx Ground Segment		FedEx Freight Segment		FedEx Services Segment		Other		Consolidated Total
2019	$	3,550	$	808	$	544	$	528	$	60	$	5,490
2018		3,461		1,178		490		477		57		5,663
2017		2,725		1,490		431		416		54		5,116

Schedule of Revenue by Service Type and Geographical Information

The following table presents revenue by service type and geographic information for the years ended or as of May 31 (in millions):

	2019		2018⁽¹⁾		2017⁽¹⁾
REVENUE BY SERVICE TYPE
FedEx Express segment:
Package:
U.S. overnight box	$	7,663	$	7,273	$	6,955
U.S. overnight envelope		1,829		1,788		1,750
U.S. deferred		4,225		3,738		3,526
Total U.S. domestic package revenue		13,717		12,799		12,231
International priority		7,405		7,461		7,045
International economy		3,446		3,255		2,876
Total international export package revenue		10,851		10,716		9,921
International domestic⁽²⁾		4,540		4,637		4,277
Total package revenue		29,108		28,152		26,429
Freight:
U.S.		3,025		2,797		2,527
International priority		2,070		2,105		1,836
International economy		2,123		1,916		1,738
International airfreight		314		368		356
Total freight revenue		7,532		7,186		6,457
Other		691		834		938
Total FedEx Express segment		37,331		36,172		33,824
FedEx Ground segment		20,522		18,395		16,503
FedEx Freight segment		7,582		6,812		6,070
FedEx Services segment		1,691		1,650		1,621
Other and eliminations⁽³⁾		2,567		2,421		2,301
	$	69,693	$	65,450	$	60,319
GEOGRAPHICAL INFORMATION⁽⁴⁾
Revenues:
U.S.	$	47,584	$	43,581	$	40,269
International:
FedEx Express segment		20,424		20,417		18,817
FedEx Ground segment		467		407		331
FedEx Freight segment		207		181		149
FedEx Services segment		1		3		10
Other		1,010		861		743
Total international revenue		22,109		21,869		20,050
	$	69,693	$	65,450	$	60,319
Noncurrent assets:
U.S.	$	33,189	$	30,362	$	28,141
International		8,128		8,627		7,783
	$	41,317	$	38,989	$	35,924

⁽¹⁾	Prior year amounts have been revised to conform to the current year presentation.

⁽²⁾	International domestic revenues relate to our intra-country operations.

⁽³⁾	Includes the FedEx Logistics operating segment.

⁽⁴⁾

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, 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.