Business Segment Information (Tables)

12 Months Ended

May 31, 2018

Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]

The following table provides a reconciliation of reportable segment revenues, 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⁽¹⁾			Consolidated Total
Revenues
2018	$	36,172	$	18,395	$	6,812	$	1,650	$	2,421		$	65,450
2017		33,824		16,503		6,070		1,621		2,301			60,319
2016		25,553		15,051		5,825		1,593		2,343			50,365
Depreciation and amortization
2018	$	1,679	$	681	$	296	$	382	$	57		$	3,095
2017		1,662		627		265		371		70			2,995
2016		1,377		556		244		384		70			2,631
Operating income (loss)
2018⁽²⁾	$	2,578	$	2,605	$	517	$	—	$	(830	)	$	4,870
2017⁽³⁾		2,769		2,279		390		—		(401	)		5,037
2016⁽⁴⁾		2,485		2,240		421		—		(2,069	)		3,077
Segment assets⁽⁵⁾
2018	$	31,753	$	15,458	$	7,389	$	6,377	$	(8,647	)	$	52,330
2017		31,307		12,969		6,527		5,682		(7,933	)		48,552
2016		20,798		11,407		6,104		5,390		2,260			45,959

⁽¹⁾	Includes TNT Express’s assets and immaterial financial results for 2016 from the time of acquisition (May 25, 2016).

⁽²⁾

Includes TNT Express integration expenses and restructuring charges of $477 million and a gain of $10 million associated with our annual MTM retirement plans accounting adjustment. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes goodwill and other asset impairment charges of $380 million.

⁽³⁾

Includes TNT Express integration expenses and restructuring charges of $327 million and a gain of $24 million associated with our MTM retirement plans accounting. These expenses are included in “Corporate, other and eliminations” and the FedEx Express segment. Also includes $39 million of charges for legal reserves related to certain pending U.S. Customs and Border Protection (“CBP”) matters involving FedEx Trade Networks and $22 million of charges in connection with the settlement of and certain expected losses relating to independent contractor litigation matters at FedEx Ground. See Note 18 below for additional information.

⁽⁴⁾

Includes a $1.5 billion loss associated with our MTM retirement plans accounting. Also includes provisions for the settlement of and expected losses related to independent contractor litigation matters at FedEx Ground for $256 million and expenses related to the settlement of a CBP notice of action involving FedEx Trade Networks in the amount of $69 million, in each case net of recognized immaterial insurance recovery, and transaction and integration-planning expenses related to our TNT Express acquisition of $113 million.

⁽⁵⁾	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
2018	$	3,461	$	1,178	$	490	$	477	$	57	$	5,663
2017		2,725		1,490		431		416		54		5,116
2016		2,350		1,556		428		432		52		4,818

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):

	2018		2017		2016
REVENUE BY SERVICE TYPE
FedEx Express segment:
Package:
U.S. overnight box	$	7,273	$	6,955	$	6,763
U.S. overnight envelope		1,788		1,750		1,662
U.S. deferred		3,738		3,526		3,379
Total U.S. domestic package revenue		12,799		12,231		11,804
International priority		7,356		6,940		5,697
International economy		3,255		2,876		2,282
Total international export package revenue		10,611		9,816		7,979
International domestic⁽¹⁾		4,587		4,227		1,285
Total package revenue		27,997		26,274		21,068
Freight:
U.S.		2,797		2,527		2,481
International priority		2,179		1,910		999
International economy		1,916		1,740		385
International airfreight		368		355		126
Total freight revenue		7,260		6,532		3,991
Other		915		1,018		494
Total FedEx Express segment		36,172		33,824		25,553
FedEx Ground segment		18,395		16,503		15,051
FedEx Freight segment		6,812		6,070		5,825
FedEx Services segment		1,650		1,621		1,593
Other and eliminations⁽²⁾		2,421		2,301		2,343
	$	65,450	$	60,319	$	50,365
GEOGRAPHICAL INFORMATION⁽³⁾
Revenues:
U.S.	$	43,581	$	40,269	$	38,070
International:
FedEx Express segment		20,417		18,817		11,083
FedEx Ground segment		407		331		275
FedEx Freight segment		181		149		137
FedEx Services segment		3		10		10
Other⁽²⁾		861		743		790
Total international revenue		21,869		20,050		12,295
	$	65,450	$	60,319	$	50,365
Noncurrent assets:
U.S.	$	30,362	$	28,141	$	25,942
International		8,627		7,783		8,028
	$	38,989	$	35,924	$	33,970

⁽¹⁾	International domestic revenues relate to our intra-country operations.

⁽²⁾	Includes the FedEx Trade Networks operating segment and TNT Express’s revenue for 2016 from the time of acquisition (May 25, 2016).

⁽³⁾

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.