Statement of Financial Position, Assets Quarterly Data

Difficulty: Beginner

The statement of financial position 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 Statement of Financial Position, Assets (quarterly data)

USD $ in millions

 
Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013 Aug 31, 2013 May 31, 2013 Feb 28, 2013 Nov 30, 2012 Aug 31, 2012 May 31, 2012 Feb 29, 2012 Nov 30, 2011 Aug 31, 2011
Cash and cash equivalents 2,789  2,768  3,503  3,969  3,173  3,059  2,989  3,534  2,841  3,647  3,543  3,763  3,478  2,266  2,416  2,908  3,042  3,935  5,096  4,917  3,372  2,517  2,743  2,843  2,040  1,896  1,959 
Receivables, less allowances 8,671  8,655  8,006  7,599  7,418  7,575  7,233  7,252  5,634  5,865  5,617  5,719  5,584  5,592  5,487  5,460  5,197  5,377  4,990  5,044  4,950  5,202  4,780  4,704  4,635  4,837  4,624 
Spare parts, supplies and fuel, less allowances 523  533  516  514  527  517  512  496  476  493  488  498  488  476  481  463  462  458  451  457  460  456  465  440  447  440  418 
Deferred income taxes 608  687  606  606  510  497  497  522  624  655  604  533  510  510  518  533  617  628  610 
Prepaid expenses and other 1,592  925  697  546  820  901  667  707  678  460  449  355  422  381  369  330  456  441  352  323  453  474  371  536  459  367  352 
Current assets 13,575  12,881  12,722  12,628  11,938  12,052  11,401  11,989  10,237  11,152  10,703  10,941  10,482  9,212  9,250  9,683  9,781  10,866  11,493  11,274  9,745  9,159  8,877  9,056  8,198  8,168  7,963 
Property and equipment, at cost 54,377  53,240  51,540  50,626  49,752  48,918  48,121  47,018  46,032  45,242  43,989  42,864  42,652  41,616  40,866  40,691  40,019  39,301  38,167  38,109  38,114  37,749  36,962  36,164  35,933  35,399  34,224 
Accumulated depreciation and amortization (26,680) (25,950) (25,305) (24,645) (24,139) (23,611) (23,317) (22,734) (23,480) (22,964) (22,506) (21,989) (22,227) (21,723) (21,442) (21,141) (20,734) (20,181) (19,730) (19,625) (19,786) (19,400) (19,096) (18,916) (19,090) (18,690) (18,404)
Net property and equipment 27,697  27,290  26,235  25,981  25,613  25,307  24,804  24,284  22,552  22,278  21,483  20,875  20,425  19,893  19,424  19,550  19,285  19,120  18,437  18,484  18,328  18,349  17,866  17,248  16,843  16,709  15,820 
Goodwill 7,464  7,325  7,382  7,154  7,000  6,921  6,783  6,747  3,764  3,806  3,792  3,810  3,805  2,734  2,775  2,790  2,739  2,737  2,712  2,755  2,765  2,757  2,734  2,387  2,419  2,399  2,435 
Other assets 3,115  2,785  3,011  2,789  2,230  2,068  2,587  3,044  1,266  1,135  1,267  1,443  1,396  1,145  1,138  1,047  924  819  1,031  1,054  992  1,047  1,214  1,212  1,292  1,176  1,620 
Other long-term assets 10,579  10,110  10,393  9,943  9,230  8,989  9,370  9,791  5,030  4,941  5,059  5,253  5,201  3,879  3,913  3,837  3,663  3,556  3,743  3,809  3,757  3,804  3,948  3,599  3,711  3,575  4,055 
Noncurrent assets 38,276  37,400  36,628  35,924  34,843  34,296  34,174  34,075  27,582  27,219  26,542  26,128  25,626  23,772  23,337  23,387  22,948  22,676  22,180  22,293  22,085  22,153  21,814  20,847  20,554  20,284  19,875 
Total assets 51,851  50,281  49,350  48,552  46,781  46,348  45,575  46,064  37,819  38,371  37,245  37,069  36,108  32,984  32,587  33,070  32,729  33,542  33,673  33,567  31,830  31,312  30,691  29,903  28,752  28,452  27,838 
Source: FedEx Corp., Quarterly and Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. FedEx Corp.'s cash and cash equivalents declined from Q1 2018 to Q2 2018 but then slightly increased from Q2 2018 to Q3 2018.
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 Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
Spare parts, supplies and fuel, less allowances Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). FedEx Corp.'s spare parts, supplies and fuel, less allowances increased from Q1 2018 to Q2 2018 but then slightly declined from Q2 2018 to Q3 2018 not reaching Q1 2018 level.
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 Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
Net property and equipment Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. FedEx Corp.'s net property and equipment increased from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
Noncurrent 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 noncurrent assets increased from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
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 Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.

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