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.
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FedEx Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-08-31), 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31).
- Cash and Cash Equivalents
- Cash levels demonstrate notable fluctuations, beginning with a downward trend from 2,389 million in August 2019 to 1,766 million in February 2020, followed by a pronounced increase reaching a peak of 8,339 million in November 2020. Afterward, cash reserves generally decline with interim fluctuations, stabilizing around 5,000-7,000 million through 2024 and mid-2025.
- Receivables, Less Allowances
- Receivables show a general upward trajectory, starting from 9,312 million in August 2019 and rising toward a peak near 12,197 million in November 2021. Subsequently, values oscillate but maintain levels above 10,000 million, indicating steady accounts receivable balances with modest variability.
- Spare Parts, Supplies, and Fuel, Less Allowances
- This category remains relatively stable, fluctuating narrowly between 568 million and 655 million throughout the period. No marked trend is observable, suggesting consistent inventory management.
- Prepaid Expenses and Other
- Prepaid expenses exhibit an increasing trend from 742 million in August 2019 to a high of 1,335 million by November 2024, though with some fluctuations. This increasing trend may reflect prepayments aligned with expanding operational scale or contractual obligations.
- Current Assets
- Current assets experienced substantial growth from 13,017 million in August 2019 to a peak of 21,710 million in February 2021, followed by a downward adjustment and relative stabilization around 17,000 to 19,000 million through mid-2025. The initial rise reflects an expansion of liquid and short-term resources.
- Property and Equipment, at Cost
- Consistent growth is evident in property and equipment, increasing from 61,436 million in August 2019 to 88,126 million by August 2025. The steady capital investment indicates ongoing asset acquisition or expansion efforts.
- Accumulated Depreciation and Amortization
- Accumulated depreciation rises steadily in magnitude, from -29,826 million to -46,742 million over the analyzed timeframe. This reflects continued usage and aging of fixed assets consistent with the increase in property and equipment.
- Net Property and Equipment
- The net book value of property and equipment has trended upward from 31,610 million to approximately 41,384 million, indicating overall asset base growth after accounting for depreciation.
- Operating Lease Right-of-Use Assets, Net
- These assets show an initial increase from 13,819 million to about 17,410 million through early 2023, followed by a gradual decline to 16,368 million by August 2025, suggesting lease asset adjustments or lease term expirations.
- Goodwill
- Goodwill remains relatively stable, fluctuating mildly between approximately 6,290 million and 6,821 million, indicating limited acquisition-related value changes.
- Other Assets
- Other assets generally fluctuate without a clear trend, ranging between 3,185 million and 4,648 million, with intermittent increases and decreases.
- Other Long-Term Assets and Long-Term Assets
- Other long-term assets show a gradual increase from 23,825 million to 27,688 million, contributing to the overall growth of long-term assets from 55,435 million to roughly 69,072 million, reflecting asset base expansion beyond fixed assets.
- Total Assets
- Total assets increase steadily from 68,452 million in August 2019 to 88,416 million by August 2025, evidencing sustained asset growth over the period.