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Revenue Recognition Accounting Policy

FedEx recognizes revenue upon delivery of shipments for the transportation businesses and upon completion of services for the business services, logistics and trade services businesses. Transportation services are provided with the use of employees and independent contractors. FedEx is the principal to the transaction for most of these services and revenue from these transactions is recognized on a gross basis. Costs associated with independent contractor settlements are recognized as incurred and included in the caption "Purchased transportation" in the accompanying consolidated statements of income. For shipments in transit, revenue is recorded based on the percentage of service completed at the balance sheet date. Estimates for future billing adjustments to revenue and accounts receivable are recognized at the time of shipment for money-back service guarantees and billing corrections. Delivery costs are accrued as incurred.

FedEx's contract logistics, global trade services and certain transportation businesses engage in some transactions wherein they act as agents. Revenue from these transactions is recorded on a net basis. Net revenue includes billings to customers less third-party charges, including transportation or handling costs, fees, commissions and taxes and duties.

Certain of FedEx's revenue-producing transactions are subject to taxes, such as sales tax, assessed by governmental authorities. FedEx presents these revenues net of tax.

Source: FedEx Corp., Annual Report


Revenues as Reported

FedEx Corp., Income Statement, Revenues

USD $ in millions

12 months ended May 31, 2017 May 31, 2016 May 31, 2015 May 31, 2014 May 31, 2013 May 31, 2012
FedEx Express Segment
TNT Express Segment
FedEx Ground Segment
FedEx Freight Segment
FedEx Services Segment
Eliminations, corporate and other

Source: FedEx Corp. Annual Reports

Item Description The company
Revenues Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. FedEx Corp.'s revenues increased from 2015 to 2016 and from 2016 to 2017.