FedEx Corp. (FDX)

Cash Flow Statement

Difficulty: Beginner

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 balance sheet.

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 cash flow statement

US$ in millions

	12 months ended	May 31, 2019		May 31, 2018		May 31, 2017		May 31, 2016		May 31, 2015		May 31, 2014
	Net income
	Depreciation and amortization
	Provision for uncollectible accounts
	Deferred income taxes and other noncash items
	Stock-based compensation
	Retirement plans mark-to-market adjustment
	Gain from sale of business
	Gain from sale of investment
	Business realignment costs
	Goodwill and other asset impairment charges
	Receivables
	Other current assets
	Pension and postretirement healthcare assets and liabilities, net
	Accounts payable and other liabilities
	Other, net
	Changes in assets and liabilities
	Adjustments to reconcile net income to cash provided by operating activities
	Cash provided by operating activities
	Capital expenditures
	Business acquisitions, net of cash acquired
	Proceeds from sale of business
	Proceeds from asset dispositions and other
	Cash used in investing activities
	Principal payments on debt
	Proceeds from debt issuances
	Proceeds from stock issuances
	Excess tax benefit on the exercise of stock options
	Dividends paid
	Purchase of treasury stock
	Other, net
	Cash provided by (used in) financing activities
	Effect of exchange rate changes on cash
	Net increase (decrease) in cash and cash equivalents
	Cash and cash equivalents at beginning of period
	Cash and cash equivalents at end of period

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).

Cash flow statement item	Description	The company
Cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	FedEx Corp.’s cash provided by operating activities declined from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	FedEx Corp.’s cash used in investing activities declined from 2017 to 2018 but then slightly increased from 2018 to 2019.
Cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	FedEx Corp.’s cash provided by (used in) financing activities declined from 2017 to 2018 and from 2018 to 2019.

	FedEx Corp.	Other companies (not purchased previously)
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Analysis
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	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality