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Goodwill and Other Intangible Assets | 12 Months Ended
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May 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | NOTE 4: GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL. The carrying amount of goodwill attributable to each reportable operating segment and changes therein are as follows (in millions):
|  | FedEx Express Segment |  |  | TNT Express Segment |  |  | FedEx Ground Segment |  |  | FedEx Freight Segment |  |  | FedEx Services Segment |  |  | Total |
Goodwill at May 31, 2015 |  | $ | 1,677 |  |  | $ | — |  |  | $ | 1,145 |  |  | $ | 773 |  |  | $ | 1,525 |  |  | $ | 5,120 |
Accumulated impairment charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (133 | ) |  |  | (1,177 | ) |  |  | (1,310 | )
Balance as of May 31, 2015 |  |  | 1,677 |  |  |  | — |  |  |  | 1,145 |  |  |  | 640 |  |  |  | 348 |  |  |  | 3,810 |
Goodwill acquired(1) |  |  | — |  |  |  | 2,964 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,964 |
Purchase adjustments and other(2) |  |  | (88 | ) |  |  | — |  |  |  | 66 |  |  |  | (5 | ) |  |  | — |  |  |  | (27 | )
Balance as of May 31, 2016 |  |  | 1,589 |  |  |  | 2,964 |  |  |  | 1,211 |  |  |  | 635 |  |  |  | 348 |  |  |  | 6,747 |
Purchase adjustments and other(2) |  |  | 2,191 |  |  |  | (1,784 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 407 |
Balance as of May 31, 2017 |  | $ | 3,780 |  |  | $ | 1,180 |  |  | $ | 1,211 |  |  | $ | 635 |  |  | $ | 348 |  |  | $ | 7,154 |
Accumulated goodwill impairment charges as of May 31, 2017 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (133 | ) |  | $ | (1,177 | ) |  | $ | (1,310 | )
(1) | Goodwill acquired relates to the acquisition of TNT Express in 2016. See Note 3 for related disclosures.
(2) | Primarily purchase-related adjustments, currency translation adjustments, and acquired goodwill related to immaterial acquisitions. FY17 includes goodwill attributed to FedEx Express as part of the acquisition of TNT Express.
Our reporting units with significant recorded goodwill include FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Office (reported in the FedEx Services segment) and FedEx Supply Chain (reported in the FedEx Ground segment). We evaluated reporting units for impairment during the fourth quarter of 2017 and 2016. The estimated fair value of each of these reporting units exceeded their carrying values in 2017 and 2016, and we do not believe that any of these reporting units were impaired as of the balance sheet dates. OTHER INTANGIBLE ASSETS. The summary of our intangible assets and related accumulated amortization at May 31, 2017 and 2016 is as follows (in millions):
|  | 2017 |  |  | 2016 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Customer relationships |  | $ | 656 |  |  | $ | (203 | ) |  | $ | 453 |  |  | $ | 912 |  |  | $ | (156 | ) |  | $ | 756 |
Technology |  |  | 54 |  |  |  | (26 | ) |  |  | 28 |  |  |  | 123 |  |  |  | (16 | ) |  |  | 107 |
Trademarks and other |  |  | 136 |  |  |  | (88 | ) |  |  | 48 |  |  |  | 202 |  |  |  | (57 | ) |  |  | 145 |
Total |  | $ | 846 |  |  | $ | (317 | ) |  | $ | 529 |  |  | $ | 1,237 |  |  | $ | (229 | ) |  | $ | 1,008 |
Amortization expense for intangible assets was $91 million in 2017, $14 million in 2016 and $21 million in 2015. Expected amortization expense for the next five years is as follows (in millions):
2018 |  | $ | 81 |
2019 |  |  | 71 |
2020 |  |  | 55 |
2021 |  |  | 44 |
2022 |  |  | 41 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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