Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company 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 (quarterly data)

US$ in millions

	May 31, 2025	Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019
Cash and cash equivalents	5,502)	5,135)	5,029)	5,943)	6,501)	5,644)	6,729)	7,055)	6,856)	5,373)	4,646)	6,850)	6,897)	6,065)	6,833)	6,853)	7,087)	8,856)	8,339)	6,954)	4,881)	1,766)	2,031)	2,389)
Receivables, less allowances	11,368)	10,230)	10,737)	10,312)	10,087)	9,904)	10,665)	10,207)	10,188)	10,721)	11,644)	11,055)	11,863)	11,668)	12,197)	11,125)	12,069)	11,481)	11,417)	10,508)	10,102)	9,323)	9,709)	9,312)
Spare parts, supplies, and fuel, less allowances	602)	617)	620)	611)	614)	640)	632)	631)	604)	631)	655)	647)	637)	611)	594)	577)	587)	583)	587)	593)	572)	568)	576)	574)
Prepaid expenses and other	914)	1,232)	1,335)	1,228)	1,005)	1,236)	1,091)	994)	962)	1,219)	1,272)	1,054)	968)	1,122)	1,123)	991)	837)	790)	922)	848)	828)	884)	882)	742)
Current assets	18,386)	17,214)	17,721)	18,094)	18,207)	17,424)	19,117)	18,887)	18,610)	17,944)	18,217)	19,606)	20,365)	19,466)	20,747)	19,546)	20,580)	21,710)	21,265)	18,903)	16,383)	12,541)	13,198)	13,017)
Property and equipment, at cost	87,622)	86,565)	85,658)	85,158)	84,391)	84,145)	83,281)	81,992)	80,624)	79,335)	78,532)	76,712)	75,275)	74,146)	72,974)	71,542)	70,077)	68,703)	67,514)	66,446)	65,024)	64,305)	62,715)	61,436)
Accumulated depreciation and amortization	(45,980)	(45,601)	(44,652)	(43,903)	(42,900)	(42,616)	(41,749)	(40,818)	(39,926)	(39,486)	(38,811)	(37,906)	(37,184)	(36,770)	(35,821)	(35,061)	(34,325)	(33,713)	(32,904)	(32,184)	(31,416)	(30,999)	(30,307)	(29,826)
Net property and equipment	41,642)	40,964)	41,006)	41,255)	41,491)	41,529)	41,532)	41,174)	40,698)	39,849)	39,721)	38,806)	38,091)	37,376)	37,153)	36,481)	35,752)	34,990)	34,610)	34,262)	33,608)	33,306)	32,408)	31,610)
Operating lease right-of-use assets, net	16,453)	16,468)	16,821)	17,094)	17,115)	16,935)	17,243)	17,327)	17,347)	17,410)	17,373)	17,219)	16,613)	16,605)	16,018)	15,414)	15,383)	14,964)	14,845)	14,496)	13,917)	13,981)	14,097)	13,819)
Goodwill	6,603)	6,332)	6,290)	6,512)	6,423)	6,425)	6,468)	6,422)	6,435)	6,455)	6,377)	6,316)	6,544)	6,755)	6,702)	6,843)	6,992)	6,977)	6,702)	6,633)	6,372)	6,814)	6,861)	6,821)
Other assets	4,543)	4,065)	3,643)	3,756)	3,771)	3,801)	3,691)	3,766)	4,053)	4,117)	3,903)	3,879)	4,381)	3,906)	3,627)	3,764)	4,070)	4,152)	3,734)	3,354)	3,257)	3,372)	3,390)	3,185)
Other long-term assets	27,599)	26,865)	26,754)	27,362)	27,309)	27,161)	27,402)	27,515)	27,835)	27,982)	27,653)	27,414)	27,538)	27,266)	26,347)	26,021)	26,445)	26,093)	25,281)	24,483)	23,546)	24,167)	24,348)	23,825)
Long-term assets	69,241)	67,829)	67,760)	68,617)	68,800)	68,690)	68,934)	68,689)	68,533)	67,831)	67,374)	66,220)	65,629)	64,642)	63,500)	62,502)	62,197)	61,083)	59,891)	58,745)	57,154)	57,473)	56,756)	55,435)
Total assets	87,627)	85,043)	85,481)	86,711)	87,007)	86,114)	88,051)	87,576)	87,143)	85,775)	85,591)	85,826)	85,994)	84,108)	84,247)	82,048)	82,777)	82,793)	81,156)	77,648)	73,537)	70,014)	69,954)	68,452)

Cash and cash equivalents: The cash position exhibited significant volatility, starting at $2,389 million in August 2019 and peaking at $8,856 million in February 2021. Following this peak, there was a gradual decline with intermittent recoveries, resulting in a value around $5,502 million by May 2025. This pattern suggests periods of strong cash inflows followed by usage or investment of cash resources.
Receivables, less allowances: Receivables showed an overall upward trend from $9,312 million in August 2019, reaching highs above $12,000 million at several points between late 2020 and early 2022. After that, values fluctuated slightly but remained relatively stable around the $10,000 to $11,000 million range through May 2025, indicating consistent credit sales and collections management.
Spare parts, supplies, and fuel, less allowances: This inventory category remained relatively stable, fluctuating narrowly between $568 million and $655 million across the analysis period, with no significant upward or downward trend, suggesting stable operational needs and inventory management.
Prepaid expenses and other: Prepaid expenses grew from $742 million in August 2019 to a peak of $1,335 million in November 2024, before declining to $914 million by May 2025. This increase may reflect advance payments or other current asset increases, followed by a reduction toward the end of the period.
Current assets: Current assets showed growth from $13,017 million in August 2019 to peak values exceeding $21,000 million in late 2020. After a peak, there was a gradual decline with some fluctuations, stabilizing around $18,000 million in the final periods. This pattern aligns with changes in cash, receivables, and prepaid expenses.
Property and equipment, at cost: The cost of property and equipment steadily increased from $61,436 million in August 2019 to $87,622 million by May 2025, indicating ongoing capital expenditures and asset acquisitions over the period under review.
Accumulated depreciation and amortization: Accumulated depreciation consistently increased from -$29,826 million to nearly -$45,980 million, reflecting systematic expensing of long-term assets over time, aligned with asset growth but at a slower absolute rate.
Net property and equipment: The net value showed a steady upward trajectory, rising from $31,610 million in August 2019 to a peak around $41,532 million by August 2021 before marginal decreases and fluctuations, ending near $41,642 million in May 2025. This suggests sustained investment balanced by depreciation.
Operating lease right-of-use assets, net: These assets increased moderately from $13,819 million to about $17,373 million in late 2022, after which a slow decline occurred, ending near $16,453 million by May 2025. This reflects lease activity trends and possibly lease terminations or revaluations.
Goodwill: Goodwill values fluctuated between $6,290 million and $6,821 million, with no clear long-term trend, indicating occasional impairments or adjustments but overall maintenance of intangible goodwill assets.
Other assets: Other assets rose from $3,185 million to a peak over $4,543 million by May 2025, showing moderate growth and variability, likely linked to non-core or miscellaneous asset components.
Other long-term assets: This category held relatively stable, ranging from $23,825 million to a high of $27,599 million with minor fluctuations, suggesting steady holdings in various long-term asset classifications.
Long-term assets: Long-term assets increased gradually from $55,435 million to $69,241 million by May 2025. The trend embodies asset base expansion, driven primarily by capital expenditures and accumulated assets over time.
Total assets: Total assets grew overall from $68,452 million in August 2019 to just over $87,627 million in May 2025, reflecting a company expansion in asset holdings. The rise was steady with small fluctuations, indicative of ongoing investment and asset management activities.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

FedEx Corp. (NYSE:FDX)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data