FedEx Corp. (FDX)

Balance Sheet: Assets

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

FedEx Corp., consolidated balance sheet: assets

US$ in millions

	May 31, 2019	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014
Cash and cash equivalents	2,319	3,265	3,969	3,534	3,763	2,908
Receivables, less allowances	9,116	8,481	7,599	7,252	5,719	5,460
Spare parts, supplies and fuel, less allowances	553	525	514	496	498	463
Deferred income taxes	—	—	—	—	606	522
Prepaid expenses and other	1,098	1,070	546	707	355	330
Current assets	13,086	13,341	12,628	11,989	10,941	9,683
Net property and equipment	30,429	28,154	25,981	24,284	20,875	19,550
Goodwill	6,884	6,973	7,154	6,747	3,810	2,790
Other assets	4,004	3,862	2,789	3,044	1,443	1,047
Other long-term assets	10,888	10,835	9,943	9,791	5,253	3,837
Long-term assets	41,317	38,989	35,924	34,075	26,128	23,387
Total assets	54,403	52,330	48,552	46,064	37,069	33,070

Based on: 10-K (filing date: 2019-07-16), 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).

Assets: Selected Items

Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	FedEx Corp.’s current assets increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
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.’s net property and equipment increased from 2017 to 2018 and from 2018 to 2019.
Long-term assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	FedEx Corp.’s long-term assets increased from 2017 to 2018 and from 2018 to 2019.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	FedEx Corp.’s total assets increased from 2017 to 2018 and from 2018 to 2019.

Current Assets: Selected Items

Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	FedEx Corp.’s cash and cash equivalents decreased from 2017 to 2018 and from 2018 to 2019.
Receivables, less allowances	The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.	FedEx Corp.’s receivables, less allowances increased from 2017 to 2018 and from 2018 to 2019.
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 2017 to 2018 and from 2018 to 2019.