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General (Tables)
 6 Months Ended
Nov. 30, 2018
Accounting Policies [Abstract]  
Schedule of Revenue by Service Type

The following table provides revenue by service type (dollars in millions) for the periods ended November 30. This presentation is consistent with how we organize our segments internally for making operating decisions and measuring performance.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

November 30,

 

 

November 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

REVENUE BY SERVICE TYPE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FedEx Express segment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Package:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. overnight box

 

$

1,948

 

 

$

1,787

 

 

$

3,834

 

 

$

3,537

 

U.S. overnight envelope

 

 

444

 

 

 

432

 

 

 

912

 

 

 

882

 

U.S. deferred

 

 

1,060

 

 

 

922

 

 

 

2,012

 

 

 

1,800

 

Total U.S. domestic package revenue

 

 

3,452

 

 

 

3,141

 

 

 

6,758

 

 

 

6,219

 

International priority

 

 

1,896

 

 

 

1,865

 

 

 

3,770

 

 

 

3,628

 

International economy

 

 

885

 

 

 

815

 

 

 

1,735

 

 

 

1,585

 

Total international export package revenue

 

 

2,781

 

 

 

2,680

 

 

 

5,505

 

 

 

5,213

 

International domestic(1)

 

 

1,203

 

 

 

1,228

 

 

 

2,334

 

 

 

2,284

 

Total package revenue

 

 

7,436

 

 

 

7,049

 

 

 

14,597

 

 

 

13,716

 

Freight:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

792

 

 

 

688

 

 

 

1,522

 

 

 

1,301

 

International priority

 

 

564

 

 

 

541

 

 

 

1,097

 

 

 

995

 

International economy

 

 

554

 

 

 

481

 

 

 

1,073

 

 

 

862

 

International airfreight

 

 

83

 

 

 

100

 

 

 

168

 

 

 

183

 

Total freight revenue

 

 

1,993

 

 

 

1,810

 

 

 

3,860

 

 

 

3,341

 

Other

 

 

175

 

 

 

217

 

 

 

369

 

 

 

419

 

Total FedEx Express segment

 

 

9,604

 

 

 

9,076

 

 

 

18,826

 

 

 

17,476

 

FedEx Ground segment

 

 

5,142

 

 

 

4,525

 

 

 

9,941

 

 

 

8,770

 

FedEx Freight segment

 

 

1,918

 

 

 

1,673

 

 

 

3,877

 

 

 

3,337

 

FedEx Services segment

 

 

429

 

 

 

416

 

 

 

846

 

 

 

816

 

FedEx Trade Networks operating segment

 

 

966

 

 

 

834

 

 

 

1,850

 

 

 

1,633

 

Eliminations

 

 

(235

)

 

 

(211

)

 

 

(464

)

 

 

(422

)

 

 

$

17,824

 

 

$

16,313

 

 

$

34,876

 

 

$

31,610

 

 

 

(1)

International domestic revenues relate to our intra-country operations.
Schedule of Recently Adopted Accounting Standards

The following table presents our results under our historical method of accounting and as adjusted to reflect our adoption of ASU 2017-07 (in millions):

 

 

Three Months Ended November 30, 2017

 

 

Six Months Ended November 30, 2017

 

 

 

Reported

 

 

Effect of Adoption of ASU 2017-07

 

 

As Adjusted

 

 

Reported

 

 

Effect of Adoption of ASU 2017-07

 

 

As Adjusted

 

Revenue

 

$

16,313

 

 

$

—

 

 

$

16,313

 

 

$

31,610

 

 

$

—

 

 

$

31,610

 

Operating Income

 

 

1,262

 

 

 

(147

)

 

 

1,115

 

 

 

2,379

 

 

 

(293

)

 

 

2,086

 

Other Income (Expense), net

 

 

(123

)

 

 

147

 

 

 

24

 

 

 

(258

)

 

 

293

 

 

 

35

 

Net Income

 

 

775

 

 

 

—

 

 

 

775

 

 

 

1,371

 

 

 

—

 

 

 

1,371