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Analysis of Inventory

Difficulty: Advanced


Inventory Accounting Policy

SPARE PARTS, SUPPLIES AND FUEL

Spare parts (principally aircraft-related) are reported at weighted-average cost. Allowances for obsolescence are provided for spare parts currently identified as excess or obsolete as well as expected to be on hand at the date the aircraft are retired from service. These allowances are provided over the estimated useful life of the related aircraft and engines. The majority of FedEx's supplies and fuel are reported at weighted-average cost.

Source: 10-K (filing date: 2018-07-16).


Inventory Disclosure

FedEx Corp., Statement of Financial Position, Inventory

USD $ in millions

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May 31, 2018 May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013
Spare parts, supplies and fuel, less allowances hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-07-16), 10-K (filing date: 2017-07-17), 10-K (filing date: 2016-07-18), 10-K (filing date: 2015-07-14), 10-K (filing date: 2014-07-14), 10-K (filing date: 2013-07-15).

Item Description The company
Spare parts, supplies and fuel, less allowances Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). FedEx Corp.'s spare parts, supplies and fuel, less allowances increased from 2016 to 2017 and from 2017 to 2018.