Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

$19.99

Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

FedEx Corp., balance sheet: debt

US$ in millions

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Current portion of long-term debt
Long-term debt, less current portion
Total long-term debt, including current maturities (carrying amount)

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

Debt item Description The company
Total long-term debt, including current maturities (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. FedEx Corp. total debt decreased from 2020 to 2021 and from 2021 to 2022.

Total Debt (Fair Value)

Microsoft Excel
May 31, 2022
Selected Financial Data (US$ in millions)
Long-term debt, including current maturities and exclusive of finance leases
Finance lease obligations
Total long-term debt, including current maturities (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2022-05-31).


Weighted-average Interest Rate on Debt

Weighted average interest rate on long-term debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2022-05-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

FedEx Corp., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Interest expense
Capitalized interest
Interest costs incurred

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

Debt item Description The company
Interest expense Amount of the cost of borrowed funds accounted for as interest expense for debt. FedEx Corp. interest expense increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. FedEx Corp. capitalized interest increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. FedEx Corp. interest costs incurred increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

Adjusted Interest Coverage Ratio

Microsoft Excel
May 31, 2022 May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017
Selected Financial Data (US$ in millions)
Net income
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31).

2022 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). FedEx Corp. adjusted interest coverage ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.