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Summary of Quarterly Operating Results (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
May 31, 2017
Feb. 28, 2017
Nov. 30, 2016
Aug. 31, 2016
May 31, 2016
Feb. 29, 2016
Nov. 30, 2015
Aug. 31, 2015
[2]
May 31, 2017
May 31, 2016
May 31, 2015
Selected Quarterly Financial Information [Line Items]                      
Revenues $ 15,728 [1] $ 14,997 [1] $ 14,931 [1] $ 14,663 [1] $ 12,979 [2] $ 12,654 [2] $ 12,453 [2] $ 12,279 $ 60,319 $ 50,365 $ 47,453
Operating income 1,581 [1] 1,025 [1] 1,167 [1] 1,264 [1] (68) [2] 864 [2] 1,137 [2] 1,144 5,037 [3] 3,077 [4] 1,867 [5]
Net income $ 1,020 [1] $ 562 [1] $ 700 [1] $ 715 [1] $ (70) [2] $ 507 [2] $ 691 [2] $ 692 $ 2,997 $ 1,820 $ 1,050
Basic earnings per common share $ 3.81 [1],[6] $ 2.11 [1],[6] $ 2.63 [1],[6] $ 2.69 [1],[6] $ (0.26) [2],[6] $ 1.86 [2],[6] $ 2.47 [2],[6] $ 2.45 [6] $ 11.24 $ 6.59 $ 3.70
Diluted earnings per common share $ 3.75 [1],[6] $ 2.07 [1],[6] $ 2.59 [1],[6] $ 2.65 [1],[6] $ (0.26) [2],[6] $ 1.84 [2],[6] $ 2.44 [2],[6] $ 2.42 [6] $ 11.07 $ 6.51 $ 3.65
Charges for legal reserves related to U.S. CBP pending protection matters $ 39               $ 39    
Ground independent contractor litigation expense 22       $ 11       22    
Retirement plans mark-to-market adjustment (24)       1,500       (24) $ 1,498 $ 2,190
TNT integration expenses and restructuring charges 124 $ 78 $ 58 $ 68         327    
Ground independent contractor litigation provision           $ 204 $ 41     256 $ 197
TNT transaction financing integration financial operating results         79            
Internal restructuring         $ 76         76  
U.S. CBP notice of action settlement           69       $ 69  
TNT transaction financing integration expense           $ 25 $ 19        
TNT acquisition [Member]                      
Selected Quarterly Financial Information [Line Items]                      
Increase in intangible asset amortization $ 20 $ 16 $ 10 $ 28         $ 74    
[1] The fourth quarter, third quarter, second quarter, and first quarter of 2017 include $124 million, $78 million, $58 million and $68 million, respectively, of TNT Express integration expenses and restructuring charges, and $20 million, $16 million, $10 million and $28 million, respectively, of increased intangible asset amortization as a result of the TNT Express acquisition. The fourth quarter of 2017 includes $39 million of charges for legal reserves related to certain pending CBP matters involving FedEx Trade Networks, $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground and $24 million related to the retirement plans MTM gain.
[2] The fourth quarter of 2016 includes a $1.5 billion retirement plans MTM loss and TNT Express transaction, financing and integration-planning expenses and immaterial financial results from the time of acquisition totaling $79 million. In addition, the fourth quarter of 2016 includes a $76 million favorable tax impact from an internal corporate legal entity restructuring to facilitate the integration of FedEx Express and TNT Express and $11 million of expenses related to independent contractor litigation matters at FedEx Ground. The third quarter of 2016 includes provisions related to independent contractor litigation matters at FedEx Ground for $204 million and expenses related to the settlement of a CBP notice of action in the amount of $69 million (in each case, net of recognized immaterial insurance recovery), as well as TNT Express transaction, financing and integration-planning expenses of $25 million. The second quarter of 2016 includes provisions related to independent contractor litigation matters at FedEx Ground for $41 million and $19 million of TNT Express transaction, financing and integration-planning expenses.
[3] Includes TNT Express integration expenses and restructuring charges of $327 million, increased intangible asset amortization of $74 million as a result of the TNT Express acquisition, and a gain of $24 million associated with our mark-to-market pension accounting. These expenses are included in “Eliminations, corporate and other,” the FedEx Express segment and the TNT Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.
[4] Includes a $1.5 billion loss associated with our mark-to-market pension accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.
[5] Includes a $2.2 billion loss associated with our mark-to-market pension accounting, $276 million of impairment and related charges resulting from the decision to permanently retire and adjust the retirement schedule of certain aircraft and related engines, and a $197 million charge to increase the legal reserve associated with the settlement of a legal matter at FedEx Ground to the amount of the settlement.
[6] The sum of the quarterly earnings per share may not equal annual amounts due to differences in the weighted-average number of shares outstanding during the respective periods.