Business Segments and Disaggregated Revenue (Tables)

12 Months Ended

May 31, 2020

Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]

The following table provides a reconciliation of reportable segment revenue, 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
Revenue
2020	$	35,513	$	22,733	$	7,102	$	22	$	3,847		$	69,217
2019		37,331		20,522		7,582		22		4,236			69,693
2018		36,172		18,395		6,812		28		4,043			65,450
Depreciation and amortization
2020	$	1,894	$	789	$	381	$	413	$	138		$	3,615
2019		1,801		728		332		355		137			3,353
2018		1,679		681		296		308		131			3,095
Operating income (loss)
2020⁽¹⁾	$	996	$	2,014	$	580	$	—	$	(1,173	)	$	2,417
2019⁽²⁾		2,176		2,663		615		—		(988	)		4,466
2018⁽³⁾		2,172		2,556		490		—		(946	)		4,272
Segment assets⁽⁴⁾
2020	$	41,252	$	24,700	$	6,434	$	7,285	$	(6,134	)	$	73,537
2019		33,247		17,561		4,736		6,061		(7,202	)		54,403
2018		31,753		15,458		4,251		5,501		(4,633	)		52,330

⁽¹⁾

^{Includes TNT Express integration expenses of $270 million. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes noncash goodwill and other asset impairment charges of $435 million primarily related to goodwill impairment at FedEx Office and from the decision to permanently retire certain aircraft and related engines at FedEx Express.}

⁽²⁾

^{Includes TNT Express integration expenses (including 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 included in “Corporate, other and eliminations” and costs incurred in connection with the settlement of a legal matter involving FedEx Ground of $46 million.}

⁽³⁾

^{Includes TNT Express integration expenses (including 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 included in “Corporate, other and eliminations.”}

⁽⁴⁾	^{Segment assets include intercompany receivables.}

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
2020	$	3,560	$	1,083	$	539	$	527	$	159	$	5,868
2019		3,550		808		544		440		148		5,490
2018		3,461		1,178		490		411		123		5,663

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):

	2020		2019⁽¹⁾		2018⁽¹⁾
REVENUE BY SERVICE TYPE
FedEx Express segment:
Package:
U.S. overnight box	$	7,234	$	7,663	$	7,273
U.S. overnight envelope		1,776		1,829		1,788
U.S. deferred		4,038		4,225		3,738
Total U.S. domestic package revenue		13,048		13,717		12,799
International priority		7,354		7,405		7,461
International economy		3,082		3,446		3,255
Total international export package revenue		10,436		10,851		10,716
International domestic⁽²⁾		4,179		4,540		4,637
Total package revenue		27,663		29,108		28,152
Freight:
U.S.		2,998		3,025		2,797
International priority		1,915		2,070		2,105
International economy		1,930		2,123		1,916
International airfreight		270		314		368
Total freight revenue		7,113		7,532		7,186
Other⁽³⁾		737		691		834
Total FedEx Express segment		35,513		37,331		36,172
FedEx Ground segment		22,733		20,522		18,395
FedEx Freight segment		7,102		7,582		6,812
FedEx Services segment		22		22		28
Other and eliminations⁽⁴⁾		3,847		4,236		4,043
	$	69,217	$	69,693	$	65,450
GEOGRAPHICAL INFORMATION⁽⁵⁾
Revenue:
U.S.	$	48,404	$	47,584	$	43,581
International:
FedEx Express segment		19,177		20,424		20,417
FedEx Ground segment		479		467		407
FedEx Freight segment		192		207		181
FedEx Services segment		1		1		1
Other		964		1,010		863
Total international revenue		20,813		22,109		21,869
	$	69,217	$	69,693	$	65,450
Noncurrent assets:
U.S.	$	45,691	$	33,189	$	30,362
International		11,463		8,128		8,627
	$	57,154	$	41,317	$	38,989

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

⁽²⁾	^{International domestic revenue relates to our intra-country operations.}

⁽³⁾	^{Includes the operations of FedEx Custom Critical.}

⁽⁴⁾	^{Includes the FedEx Office and FedEx Logistics operating segments.}

⁽⁵⁾

^{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.}