XML 63 R14.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Commitments | 3 Months Ended
--- | ---
Aug. 31, 2015
Commitments [Abstract] |
Commitments | (7) Commitments As of August 31, 2015, our purchase commitments under various contracts for the remainder of 2016 and annually thereafter were as follows (in millions):
|  | Aircraft and |  |  |  |  |  |  |
|  | Aircraft-Related |  | Other(1) |  | Total |
2016 (remainder) | $ | 657 |  | $ | 815 |  | $ | 1,472 |
2017 |  | 1,240 |  |  | 264 |  |  | 1,504 |
2018 |  | 1,739 |  |  | 149 |  |  | 1,888 |
2019 |  | 1,584 |  |  | 71 |  |  | 1,655 |
2020 |  | 1,638 |  |  | 23 |  |  | 1,661 |
Thereafter |  | 5,962 |  |  | 98 |  |  | 6,060 |
Total | $ | 12,820 |  | $ | 1,420 |  | $ | 14,240 |
(1) | Primarily equipment, advertising contracts and, for the remainder of 2016, $495 million of estimated required quarterly contributions to our U.S. Pension Plans.
The amounts reflected in the table above for purchase commitments represent noncancelable agreements to purch ase goods or services. As of August 31, 2015, our obligation to purchase six Boeing 767-300 Freighter (“B767F”) aircraft and nine Boeing 777 Freighter (“B777F”) aircraft is conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the Railway Labor Act of 1926, as amended. O pen purchase orders that are cancelable are not considered unconditional purchase obligations for financial reporting purposes and are not included in the table above. On July 21, 2015, FedEx Express entered into a supplemental agreement to purchase 50 additional B767F aircraft from Boeing. Four of the 50 additional B767F aircraft purchases are conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the Railway Labor Act of 1926, as amended. The 50 additional B767F aircraft are expected to be delivered from fiscal 2018 through fiscal 2023 and will enable FedEx Express to continue to improve the efficiency and reliability of its aircraft fleet. We had $4 11 million in deposits and progress payments as of August 31, 2015 on aircraft purchases and other pla nned aircraft-related transactions. These deposits are classified in the “Other assets” caption of our consolidated balance sheets. Aircraft and aircraft-related contracts are subject to price escalations. The following table is a summary of the key aircraft we are committed to purchase as of August 31, 2015 with the year of expected delivery:
|  | B767F |  | B777F |  | Total |
2016 (remainder) | 6 |  | 1 |  | 7 |
2017 | 12 |  | - |  | 12 |
2018 | 16 |  | 2 |  | 18 |
2019 | 13 |  | 2 |  | 15 |
2020 | 12 |  | 3 |  | 15 |
Thereafter | 26 |  | 9 |  | 35 |
Total | 85 |  | 17 |  | 102 |
A summary of future minimum lease payments under noncancelable operating leases with an initial or remaining term in excess of one year at August 31, 2015 is as follows (in millions):
|  |  | Operating Leases |
|  |  | Aircraft |  |  |  |  | Total |
|  |  | and Related |  | Facilities |  | Operating |
|  |  | Equipment |  | and Other |  | Leases |
2016 (remainder) | $ | 430 |  | $ | 1,256 |  | $ | 1,686 |
2017 |  | 403 |  |  | 1,890 |  |  | 2,293 |
2018 |  | 332 |  |  | 1,472 |  |  | 1,804 |
2019 |  | 274 |  |  | 1,286 |  |  | 1,560 |
2020 |  | 190 |  |  | 1,126 |  |  | 1,316 |
Thereafter |  | 360 |  |  | 7,354 |  |  | 7,714 |
Total | $ | 1,989 |  | $ | 14,384 |  | $ | 16,373 |
Future minimum lease payments under capital leases were immaterial at August 31, 2015. While certain of our lease agreements contain covenants governing the use of the leased assets or require us to maintain certain levels of insurance, none of our lease agreements include material financial covenants or limitations.

X
- References No definition available. + Details
Name: | fdx_CommitmentsAbstract
Namespace Prefix: | fdx_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 25 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 17 -Article 9 + Details
Name: | us-gaap_CommitmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration