.Adjustments to Financial Statements
Difficulty: Advanced
Adjustments to Current Assets
FedEx Corp., adjusted current assets
USD $ in millions
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Current assets | ||||||
| Adjustments | |||||||
| | Add: Allowances for doubtful accounts | ||||||
| | Less: Current deferred tax assets1 | ||||||
| After Adjustment | |||||||
| | Adjusted current assets | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Current deferred tax assets. See Details »
Adjustments to Total Assets
FedEx Corp., adjusted total assets
USD $ in millions
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Total assets | ||||||
| Adjustments | |||||||
| | Add: Operating leased assets1 | ||||||
| | Add: Allowances for doubtful accounts | ||||||
| | Less: Current deferred tax assets2 | ||||||
| | Less: Noncurrent deferred tax assets (included in Other assets)3 | ||||||
| After Adjustment | |||||||
| | Adjusted total assets | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Operating leased assets. See Details »
2 Current deferred tax assets. See Details »
3 Noncurrent deferred tax assets (included in Other assets). See Details »
Adjustments to Total Liabilities
FedEx Corp., adjusted total liabilities
USD $ in millions
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Total liabilities | ||||||
| Adjustments | |||||||
| | Add: Operating lease obligations1 | ||||||
| | Less: Noncurrent deferred tax liabilities2 | ||||||
| After Adjustment | |||||||
| | Adjusted total liabilities | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Operating lease obligations. See Details »
2 Noncurrent deferred tax liabilities. See Details »
Adjustments to Stockholders' Equity
FedEx Corp., adjusted common stockholders' investment
USD $ in millions
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Common stockholders' investment | ||||||
| Adjustments | |||||||
| | Less: Net deferred tax assets (liabilities)1 | ||||||
| | Add: Allowances for doubtful accounts | ||||||
| After Adjustment | |||||||
| | Adjusted common stockholders' investment | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Net deferred tax assets (liabilities). See Details »
Adjustments to Capitalization Table
FedEx Corp., adjusted capitalization table
USD $ in millions
| May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | ||
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Current portion of long-term debt | ||||||
| | Long-term debt, less current portion | ||||||
| | Total reported debt | ||||||
| | Common stockholders' investment | ||||||
| | Total reported capital | ||||||
| Adjustments to Debt | |||||||
| | Add: Operating lease obligations1 | ||||||
| | Adjusted total debt | ||||||
| Adjustments to Equity | |||||||
| | Less: Net deferred tax assets (liabilities)2 | ||||||
| | Add: Allowances for doubtful accounts | ||||||
| | Adjusted common stockholders' investment | ||||||
| After Adjustment | |||||||
| | Adjusted total capital | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Operating lease obligations. See Details »
2 Net deferred tax assets (liabilities). See Details »
Adjustments to Reported Income
FedEx Corp., adjusted comprehensive income (loss)
USD $ in millions
| 12 months ended | May 31, 2017 | May 31, 2016 | May 31, 2015 | May 31, 2014 | May 31, 2013 | May 31, 2012 | |
|---|---|---|---|---|---|---|---|
| As Reported | |||||||
| | Net income | ||||||
| Adjustments | |||||||
| | Add: Deferred income tax expense (benefit)1 | ||||||
| | Add: Increase (decrease) in allowances for doubtful accounts | ||||||
| | Add: Other comprehensive income (loss) | ||||||
| After Adjustment | |||||||
| | Adjusted comprehensive income (loss) | ||||||
Source: Based on data from FedEx Corp. Annual Reports
1 Deferred income tax expense (benefit). See Details »
