FedEx Corp. (FDX)

Statement of Cash Flows

Difficulty: Beginner

Annual Data

Quarterly Data

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

FedEx Corp., Consolidated Statement of Cash Flows

USD $ in millions

12 months ended	May 31, 2018	May 31, 2017	May 31, 2016	May 31, 2015	May 31, 2014	May 31, 2013
Net income	4,572	2,997	1,820	1,050	2,097	1,561
Depreciation and amortization	3,095	2,995	2,631	2,611	2,587	2,386
Provision for uncollectible accounts	246	136	121	145	130	167
Deferred income taxes and other noncash items	(231)	909	31	(572)	581	521
Stock-based compensation	167	154	144	133	117	109
Retirement plans mark-to-market adjustment	(10)	(24)	1,498	2,190	–	–
Gain from sale of business	(85)	–	–	–	–	–
Gain from sale of investment	–	(35)	–	–	–	–
Goodwill and other asset impairment charges	380	–	–	246	–	479
Receivables	(1,049)	(556)	(199)	(392)	(516)	(451)
Other current assets	(135)	78	(234)	25	(22)	257
Pension and postretirement healthcare assets and liabilities, net	(2,345)	(1,688)	(346)	(692)	(453)	(335)
Accounts payable and other liabilities	141	103	467	659	(235)	10
Other, net	(72)	(139)	(225)	(37)	(22)	(16)
Changes in assets and liabilities	(3,460)	(2,202)	(537)	(437)	(1,248)	(535)
Adjustments to reconcile net income to cash provided by operating activities	102	1,933	3,888	4,316	2,167	3,127
Cash provided by operating activities	4,674	4,930	5,708	5,366	4,264	4,688
Capital expenditures	(5,663)	(5,116)	(4,818)	(4,347)	(3,533)	(3,375)
Business acquisitions, net of cash acquired	(179)	–	(4,618)	(1,429)	(36)	(483)
Proceeds from sale of business	123	–	–	–	–	–
Proceeds from asset dispositions and other	42	135	(10)	24	18	55
Cash used in investing activities	(5,677)	(4,981)	(9,446)	(5,752)	(3,551)	(3,803)
Principal payments on debt	(38)	(82)	(41)	(5)	(254)	(417)
Proceeds from debt issuances	1,480	1,190	6,519	2,491	1,997	1,739
Proceeds from stock issuances	327	337	183	320	557	280
Excess tax benefit on the exercise of stock options	–	–	3	51	44	23
Dividends paid	(535)	(426)	(277)	(227)	(187)	(177)
Purchase of treasury stock	(1,017)	(509)	(2,722)	(1,254)	(4,857)	(246)
Other, net	10	18	(54)	(27)	(19)	(18)
Cash provided by (used in) financing activities	227	528	3,611	1,349	(2,719)	1,184
Effect of exchange rate changes on cash	72	(42)	(102)	(108)	(3)	5
Net increase (decrease) in cash and cash equivalents	(704)	435	(229)	855	(2,009)	2,074
Cash and cash equivalents at beginning of period	3,969	3,534	3,763	2,908	4,917	2,843
Cash and cash equivalents at end of period	3,265	3,969	3,534	3,763	2,908	4,917

Based on: 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), 10-K (filing date: 2013-07-15).

Item	Description	The company
Cash provided by operating activities	The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities.	FedEx Corp.'s cash provided by operating activities declined from 2016 to 2017 and from 2017 to 2018.