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Goodwill and Other Intangible Assets | 12 Months Ended
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May 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | NOTE 5: 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 |  |  | FedEx Ground Segment |  |  | FedEx Freight Segment |  |  | Corporate, Other, and Eliminations |  |  | Total |
Goodwill at May 31, 2020 |  | $ | 4,869 |  |  | $ | 840 |  |  | $ | 767 |  |  | $ | 1,938 |  |  | $ | 8,414 |
Accumulated impairment charges |  |  | — |  |  |  | — |  |  |  | (133 | ) |  |  | (1,909 | ) |  |  | (2,042 | )
Balance as of May 31, 2020 |  |  | 4,869 |  |  |  | 840 |  |  |  | 634 |  |  |  | 29 |  |  |  | 6,372 |
Goodwill acquired(1) |  |  | 18 |  |  |  | 103 |  |  |  | — |  |  |  | 40 |  |  |  | 161 |
Other(2) |  |  | 471 |  |  |  | — |  |  |  | — |  |  |  | (12 | ) |  |  | 459 |
Balance as of May 31, 2021 |  |  | 5,358 |  |  |  | 943 |  |  |  | 634 |  |  |  | 57 |  |  |  | 6,992 |
Other(2) |  |  | (433 | ) |  |  | (11 | ) |  |  | — |  |  |  | (4 | ) |  |  | (448 | )
Balance as of May 31, 2022 |  | $ | 4,925 |  |  | $ | 932 |  |  | $ | 634 |  |  | $ | 53 |  |  | $ | 6,544 |
Accumulated goodwill impairment charges as of May 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | (133 | ) |  | $ | (1,909 | ) |  | $ | (2,042 | )
(1) Goodwill acquired relates to the acquisition of ShopRunner. See Note 4 for more information. (2) Primarily currency translation adjustments and purchase price allocation-related adjustments. Our reporting units with significant recorded goodwill include FedEx Express, FedEx Ground, and FedEx Freight. We evaluated these reporting units during the fourth quarter and the estimated fair value of each of these reporting units exceeded their carrying values as of the end of 2022 and 2021; therefore, we do not believe that any of these reporting units were impaired as of the balance sheet dates. In 2020, we recorded impairment charges of $358 million predominantly attributable to our FedEx Office and Print Services, Inc. (“FedEx Office”) reporting unit. The coronavirus (“COVID-19”) pandemic resulted in store closures and declining print revenue at FedEx Office during the fourth quarter of 2020. Based on these factors, our outlook for the FedEx Office business and retail industry changed in the fourth quarter of 2020, which contributed $348 million to the goodwill impairment charge. OTHER INTANGIBLE ASSETS. The summary of our intangible assets and related accumulated amortization at May 31, 2022 and 2021 is as follows (in millions):
|  | 2022 |  |  | 2021 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Customer relationships |  | $ | 617 |  |  | $ | (340 | ) |  | $ | 277 |  |  | $ | 591 |  |  | $ | (299 | ) |  | $ | 292 |
Technology |  |  | 64 |  |  |  | (40 | ) |  |  | 24 |  |  |  | 65 |  |  |  | (35 | ) |  |  | 30 |
Trademarks and other |  |  | 1 |  |  |  | (1 | ) |  |  | — |  |  |  | 1 |  |  |  | (1 | ) |  |  | — |
Total |  | $ | 682 |  |  | $ | (381 | ) |  | $ | 301 |  |  | $ | 657 |  |  | $ | (335 | ) |  | $ | 322 |
Amortization expense for intangible assets wa s $52 million in 2022, $49 million in 2021, and $66 million in 2020. Expected amortization expense for the next five years is as follows (in millions):
2023 | $ | 52 |
2024 |  | 51 |
2025 |  | 50 |
2026 |  | 50 |
2027 |  | 48 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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