Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Feb. 29, 2016	May. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 981	$ 884
Receivables, less allowances of $79 and $92	1,457	1,549
Spare parts, supplies and fuel, less allowances of $209 and $204	369	394
Deferred income taxes	380	378
Due from parent company and other FedEx subsidiaries	584	501
Prepaid expenses and other	124	108
Total current assets	3,895	3,814
PROPERTY AND EQUIPMENT, AT COST	28,007	26,286
Less accumulated depreciation and amortization	13,193	12,392
Net property and equipment	14,814	13,894
OTHER LONG-TERM ASSETS
Goodwill	1,341	1,448
Other assets	973	1,104
Total other long-term assets	2,314	2,552
ASSETS	21,023	20,260
CURRENT LIABILITIES
Current portion of long-term debt	3	7
Accrued salaries and employee benefits	971	1,014
Accounts payable	1,093	1,257
Accrued expenses	949	1,056
Due to other FedEx subsidiaries	1,777	1,932
Total current liabilities	4,793	5,266
LONG-TERM DEBT, LESS CURRENT PORTION	239	239
OTHER LONG-TERM LIABILITIES
Deferred income taxes	2,078	1,712
Pension, postretirement healthcare and other benefit obligations	1,291	1,251
Self insurance accruals	804	711
Deferred lease obligations	549	572
Deferred gains, principally related to aircraft transactions	158	178
Other liabilities	145	117
Total other long-term liabilities	$ 5,025	$ 4,541
COMMITMENTS AND CONTINGENCIES
OWNER'S EQUTIY
Common stock, $0.10 par value; 1,000 shares authorized, issued and outstanding	$ 0	$ 0
Additional paid-in capital	608	608
Retained earnings	10,854	9,839
Accumulated other comprehensive loss	(496)	(233)
Total owner's equity	10,966	10,214
LIABILITIES AND OWNER'S EQUITY	$ 21,023	$ 20,260