Business Segments and Disaggregated Revenue (Tables)

12 Months Ended

May 31, 2021

Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]

Schedule of Segment Information

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
2021	$	42,078	$	30,496	$	7,833	$	32	$	3,520		$	83,959
2020		35,513		22,733		7,102		22		3,847			69,217
2019		37,331		20,522		7,582		22		4,236			69,693
Depreciation and amortization
2021	$	1,946	$	843	$	417	$	462	$	125		$	3,793
2020		1,894		789		381		413		138			3,615
2019		1,801		728		332		355		137			3,353
Operating income (loss)
2021(1)	$	2,810	$	3,193	$	1,005	$	—	$	(1,151	)	$	5,857
2020(2)		996		2,014		580		—		(1,173	)		2,417
2019(3)		2,176		2,663		615		—		(988	)		4,466
Segment assets(4)
2021	$	46,356	$	29,134	$	7,371	$	8,639	$	(8,723	)	$	82,777
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

^{(1) Includes TNT Express integration expenses of $210 million. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes business realignment costs of $116 million included in the FedEx Express segment.}

^{(2) 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.}

^{(3) 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.}

^{(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
2021	$	3,503	$	1,446	$	320	$	512	$	103	$	5,884
2020		3,560		1,083		539		527		159		5,868
2019		3,550		808		544		440		148		5,490

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):

	2021		2020		2019(1)
REVENUE BY SERVICE TYPE
FedEx Express segment:
Package:
U.S. overnight box	$	8,116	$	7,234	$	7,663
U.S. overnight envelope		1,791		1,776		1,829
U.S. deferred		4,984		4,038		4,225
Total U.S. domestic package revenue		14,891		13,048		13,717
International priority		10,317		7,354		7,405
International economy		2,632		3,082		3,446
Total international export package revenue		12,949		10,436		10,851
International domestic(2)		4,640		4,179		4,540
Total package revenue		32,480		27,663		29,108
Freight:
U.S.		3,325		2,998		3,025
International priority		3,030		1,915		2,070
International economy		1,582		1,930		2,123
International airfreight		245		270		314
Total freight revenue		8,182		7,113		7,532
Other(3)		1,416		737		691
Total FedEx Express segment		42,078		35,513		37,331
FedEx Ground segment		30,496		22,733		20,522
FedEx Freight segment		7,833		7,102		7,582
FedEx Services segment		32		22		22
Other and eliminations(4)		3,520		3,847		4,236
	$	83,959	$	69,217	$	69,693
GEOGRAPHICAL INFORMATION(5)
Revenue:
U.S.	$	58,792	$	48,404	$	47,584
International:
FedEx Express segment		23,085		19,177		20,424
FedEx Ground segment		735		479		467
FedEx Freight segment		190		192		207
FedEx Services segment		1		1		1
Other		1,156		964		1,010
Total international revenue		25,167		20,813		22,109
	$	83,959	$	69,217	$	69,693
Noncurrent assets:
U.S.	$	49,407	$	45,691	$	33,189
International		12,790		11,463		8,128
	$	62,197	$	57,154	$	41,317

^{(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 beginning March 1, 2020 and FedEx Cross Border beginning June 1, 2020.}

^{(4) Includes the FedEx Office and FedEx Logistics operating segments, as well as the financial results of ShopRunner beginning December 23, 2020.}

^{(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.}