Stock Analysis on Net
Stock Analysis on Net

FedEx Corp. (NYSE:FDX)

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Analysis of Property, Plant and Equipment

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Property, Plant and Equipment Disclosure

FedEx Corp., balance sheet: property, plant and equipment

US$ in millions

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May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Aircraft and related equipment
Package handling and ground support equipment
Information technology
Vehicles and trailers
Facilities and other
Property and equipment, at cost
Accumulated depreciation and amortization
Net property and equipment

Based on: 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), 10-K (reporting date: 2016-05-31).

Item Description The company
Property and equipment, at cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. FedEx Corp. property and equipment, at cost increased from 2019 to 2020 and from 2020 to 2021.
Net property and equipment Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. FedEx Corp. net property and equipment increased from 2019 to 2020 and from 2020 to 2021.

Asset Age Ratios (Summary)

FedEx Corp., asset age ratios

Microsoft Excel LibreOffice Calc
May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

Based on: 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), 10-K (reporting date: 2016-05-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. FedEx Corp. average age ratio of depreciable property, plant and equipment improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. FedEx Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. FedEx Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.
Estimated remaining life FedEx Corp. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

Average Age

Microsoft Excel LibreOffice Calc
May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Property and equipment, at cost
Asset Age Ratio
Average age1

Based on: 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), 10-K (reporting date: 2016-05-31).

2021 Calculations

1 Average age = 100 × Accumulated depreciation and amortization ÷ Property and equipment, at cost
= 100 × ÷ =

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. FedEx Corp. average age ratio of depreciable property, plant and equipment improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Selected Financial Data (US$ in millions)
Property and equipment, at cost
Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
Asset Age Ratio (Years)
Estimated total useful life1

Based on: 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), 10-K (reporting date: 2016-05-31).

2021 Calculations

1 Estimated total useful life = Property and equipment, at cost ÷ Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
= ÷ =

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. FedEx Corp. estimated total useful life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Selected Financial Data (US$ in millions)
Accumulated depreciation and amortization
Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
Asset Age Ratio (Years)
Time elapsed since purchase1

Based on: 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), 10-K (reporting date: 2016-05-31).

2021 Calculations

1 Time elapsed since purchase = Accumulated depreciation and amortization ÷ Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
= ÷ =

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. FedEx Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2019 to 2020 and from 2020 to 2021.

Estimated Remaining Life

Microsoft Excel LibreOffice Calc
May 31, 2021 May 31, 2020 May 31, 2019 May 31, 2018 May 31, 2017 May 31, 2016
Selected Financial Data (US$ in millions)
Net property and equipment
Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
Asset Age Ratio (Years)
Estimated remaining life1

Based on: 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), 10-K (reporting date: 2016-05-31).

2021 Calculations

1 Estimated remaining life = Net property and equipment ÷ Depreciation and amortization expense, excluding gains and losses on sales of property and equipment used in operations
= ÷ =

Asset age ratio Description The company
Estimated remaining life FedEx Corp. estimated remaining life of depreciable property, plant and equipment increased from 2019 to 2020 and from 2020 to 2021.