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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
| 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 | |
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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 | Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. | FedEx Corp.’s spare parts, supplies and fuel, less allowances increased from 2016 to 2017 and from 2017 to 2018. |
