Form 8-K

8-K — FEDEX CORP

Accession: 0001048911-26-000128

Filed: 2026-10-28

Period: 2026-10-28

CIK: 0001048911

SIC: 4513 (AIR COURIER SERVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — fdx-20261028.htm (Primary)

EX-99.1 (fdx-earningsreleasety2026q3.htm)

GRAPHIC (fdx-20261028_g1.jpg)

GRAPHIC (image.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: fdx-20261028.htm · Sequence: 1

fdx-20261028

FALSE000104891100010489112026-10-282026-10-280001048911us-gaap:CommonStockMember2026-10-282026-10-280001048911fdx:OnePointSixTwoFivePercentageNotesDueTwoThousandTwentySevenMember2026-10-282026-10-280001048911fdx:ZeroPointFourFiveZeroPercentNotesDueTwoThousandTwentyNineMember2026-10-282026-10-280001048911fdx:ZeroPointFourFiveZeroPercentageNotesDueTwoThousandTwentyNineMember2026-10-282026-10-280001048911fdx:FourPointZeroZeroZeroPercentageNotesDueTwoThousandThirtyMember2026-10-282026-10-280001048911fdx:OnePointThreeZeroZeroPercentNotesDueTwoThousandThirtyOne2Member2026-10-282026-10-280001048911fdx:ThreePointFiveZeroZeroPercentNotesDueTwoThousandThirtyTwoMember2026-10-282026-10-280001048911fdx:ZeroPointNineFiveZeroPercentNotesDueTwoThousandThirtyThree1Member2026-10-282026-10-280001048911fdx:ZeroPointNineFiveZeroPercentageNotesDueTwoThousandThirtyThree2Member2026-10-282026-10-280001048911fdx:FourPointSixTwoFivePercentageNotesDueTwoThousandThirtyFourMember2026-10-282026-10-280001048911fdx:FourPointOneTwoFivePercentNotesDueTwoThousandThirtySevenMember2026-10-282026-10-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 28, 2026

FedEx Corporation

(Exact name of registrant as specified in its charter)

Commission File Number 1-15829

Delaware

62-1721435

(State or other jurisdiction of (IRS Employer

incorporation) Identification No.)

942 South Shady Grove Road, Memphis, Tennessee

38120

(Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (901) 818-7500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol

Name of each exchange

on which registered

Common Stock, par value $0.10 per share FDX New York Stock Exchange

1.625% Notes due 2027 FDX 27 New York Stock Exchange

0.450% Notes due 2029 FDX 29A New York Stock Exchange

0.450% Notes due 2029 FDX 29B New York Stock Exchange

4.000% Notes due 2030 FDX 30A New York Stock Exchange

1.300% Notes due 2031 FDX 31B New York Stock Exchange

3.500% Notes due 2032 FDX 32 New York Stock Exchange

0.950% Notes due 2033 FDX 33 New York Stock Exchange

0.950% Notes due 2033 FDX 33A New York Stock Exchange

4.625% Notes due 2034 FDX 34A New York Stock Exchange

4.125% Notes due 2037 FDX 37 New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

EXPLANATORY NOTE

The information in this Report, including Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and General Instruction B.2 thereunder. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

SECTION 2. FINANCIAL INFORMATION.

Item 2.02. Results of Operations and Financial Condition.

Attached as Exhibit 99.1 and incorporated herein by reference is a copy of FedEx Corporation’s press release, dated October 28, 2026, announcing its financial results for the fiscal quarter ended September 30, 2026.

SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release of FedEx Corporation dated October 28, 2026.

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FedEx Corporation

Date: October 28, 2026

By:

/s/ Claude F. Russ

Claude F. Russ

Enterprise Vice President, Finance and

Interim Chief Financial Officer and

Interim Chief Accounting Officer

EX-99.1

Filename: fdx-earningsreleasety2026q3.htm · Sequence: 2

Document

FedEx Reports Strong Third Quarter Results

Completed $2 Billion of Share Repurchases in June-September Period

Raises Full-year Calendar 2026 Earnings Outlook

MEMPHIS, Tenn., October 28, 2026 ... FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the quarter ended September 30 (adjusted measures exclude the items listed below):

Three Months Ended

(Continuing Operations)

September 30, 2026 September 30, 2025

As Reported

(GAAP) Adjusted

(non-GAAP) As Reported

(GAAP) Adjusted

(non-GAAP)

Revenue $22.9 billion $22.9 billion $20.4 billion $20.4 billion

Operating income $1.07 billion $1.20 billion $0.97 billion $1.03 billion

Operating margin 4.7% 5.3% 4.8% 5.1%

Net income $0.29 billion $0.90 billion $0.65 billion $0.69 billion

Diluted EPS $1.21 $3.74 $2.73 $2.93

This year’s and last year’s quarterly consolidated results have been adjusted for:

Three Months Ended

Impact per diluted share September 30, 2026 September 30, 2025

Loss on short-term investment $5.18 $—

Gain on extinguishment of debt (1.97) —

Restructuring, exit and other costs (0.68) 0.20

Consolidated operating results improved in the third quarter, driven by increased package base yields, higher package volumes, and continued structural cost reductions from business optimization initiatives. These factors were partially offset by increased purchased transportation rates, higher wage rates and variable compensation expenses, and the financial impact of global trade policy changes.

“As our strong operating results and adjusted free cash flow demonstrate, FedEx is winning across high-value market segments while we optimize our network, driving an increase to our full-year outlook,” said Raj Subramaniam, FedEx Corp. president and chief executive officer. “As we advance our transformation, we

remain committed to disciplined operational execution to reduce our cost-to-serve while focusing on profitable growth. We have the right strategy in place to continue to be the world’s premier B2B parcel and air freight provider, leverage our digital insights to unlock new markets, and use disciplined capital allocation to create additional stockholder value.”

Express U.S. Domestic segment operating income increased during the quarter, driven by higher package yields, increased package volume, improved service mix, and continued cost savings from transformation initiatives. These factors were partially offset by increased purchased transportation rates, and higher salaries and benefits expenses.

Express International segment operating results increased during the quarter, primarily due to increased base yields, higher international export volume, and increased freight weight. These factors were partially offset by higher wage rates, increased purchased transportation rates, and the financial impact of global trade policy changes.

FedEx Freight Spin-Off

FedEx completed the spin-off of FedEx Freight on June 1, 2026, retaining a 19.9% ownership interest in FedEx Freight. FedEx recognized a loss of $1.2 billion during the quarter within “Gain/(loss) on short-term investment” on the income statement. The carrying value of this equity security totaled $3.3 billion at September 30, 2026 and is recorded within “Short-term investment” in the condensed consolidated balance sheets.

FedEx utilized cash proceeds from the approximately $4.1 billion dividend received from FedEx Freight following the spin-off, as well as cash on hand, to fund cash tender offers for approximately $4.9 billion aggregate principal amount of outstanding debt securities, resulting in a non-GAAP, pre-tax gain of $627 million.

FedEx Supply Chain Sale

On October 1, 2026, FedEx completed the sale of its subsidiary FedEx Supply Chain to CMA CGM Group for a purchase price of approximately $1.4 billion. The transaction represents another important step in the ongoing transformation of FedEx, advancing its strategy to simplify its portfolio, sharpen its focus, and concentrate resources on the areas where the company is best positioned to create long-term value.

2027 Rate Increases

As previously announced, effective January 4, 2027, FedEx parcel shipping rates will increase by an average of 5.9%. Details related to these and additional changes to rates and surcharges are available at fedex.com/en-us/shipping/rate-changes.html.

Cash and Capital Returns

Cash on-hand as of September 30, 2026 was $8 billion, which included approximately $2.7 billion in IEEPA tariff refunds held for refund to customers.

FedEx completed $2.0 billion in stock repurchases via open market and accelerated share repurchase transactions in June through September. Approximately 6.3 million shares were repurchased, with the decrease in outstanding shares benefiting third quarter results by $0.02 per diluted share. FedEx will continue to be opportunistic with stock repurchases. As of September 30, 2026, $4.3 billion remained available for repurchases under the company’s 2026 stock repurchase authorization.

“Our solid third quarter results and higher 2026 financial outlook reflect the focused execution of our strategy, demonstrating momentum toward our 2029 financial targets,” said Claude Russ, FedEx Corp. enterprise vice president and interim chief financial officer. “Our decision to repurchase $2 billion of FedEx stock displays our conviction in achieving our 2029 financial targets and our commitment to deploy our strong free cash flow to increase stockholder returns.”

Outlook

For calendar year 2026, FedEx is revising its forecast as follows:

Financial Metric

Forecast Value1

Additional Details & Exclusions

Revenue Growth ~12% YoY Compared to the prior forecast of ~11%.

Diluted EPS

(Continuing Operations) $35.30 to $35.90 Compared to the prior forecast of $16.55 to $17.75 per diluted share, which excluded impacts related to MTM accounting for the FedEx Freight investment and gain on extinguishment of debt. Prior to additional CY26 MTM adjustments for retirement plan accounting.

Adjusted Diluted EPS

(Continuing Operations) $18.00 to $18.60 Compared to the prior forecast of $16.90 to $18.10 per diluted share. Also excludes MTM adjustments for retirement plan accounting, adjustments related to MTM accounting for the FedEx Freight investment, gain on extinguishment of debt, and restructuring, exit and other costs.

Effective Tax Rate

(ETR) ~22.5% Compared to the prior forecast of ~23%. Prior to MTM adjustments for retirement plan accounting, adjustments related to MTM accounting for the FedEx Freight investment, and a $263 million deferred income tax benefit on FedEx Supply Chain basis difference.

Pension Contributions $475 million Unchanged from the prior forecast.

Capital Spending $3.9 billion Unchanged from the prior forecast. Prioritizes investments in network optimization and efficiency improvement, including fleet and facility modernization and automation.

(1) As of October 28, 2026

These forecasts assume FedEx’s current economic forecast and fuel price expectations, and no additional adverse economic, geopolitical, or international trade-related developments. FedEx’s ETR and EPS forecasts are based on current law and related regulations and guidance.

Corporate Overview

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $90 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 450,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Additional information and operating data are contained in the company’s annual report, Form 10-K, Form 10-Qs, Form 8-Ks and Statistical Books. These materials, as well as a webcast of the earnings release conference call to be held at 5:30 p.m. EDT on October 28, are available on the company’s website at investors.fedex.com. A replay of the conference call webcast will be posted on our website following the call.

The Investor Relations page of our website, investors.fedex.com, contains a significant amount of information about FedEx, including our SEC filings and financial and other information for investors. The information that we post on our Investor Relations website could be deemed to be material information. We encourage investors, the media and others interested in the company to visit this website from time to time, as information is updated and new information is posted.

Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding expected cost savings, future financial targets, business strategies, management’s views with respect to future events and financial performance, and the assumptions underlying such expected cost savings, targets, strategies, and statements. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “forecasts,” “anticipates,” “plans,” “estimates,” “targets,” “projects,” “intends,” “determined to,” or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate; uncertainty and additional volatility in the global trade environment; our ability to successfully implement our business strategies and global transformation program and network optimization initiatives, including Network 2.0 and Tricolor, effectively

respond to changes in market dynamics, and achieve the anticipated benefits of such strategies and actions; our ability to achieve our cost reduction initiatives and financial performance goals, including our 2029 financial performance targets; our ability to achieve the anticipated benefits of the tax-free full separation of the FedEx Freight business into a new publicly traded company (the “FedEx Freight Spin-Off”); the possibility of disruption, including changes to existing business relationships, disputes, litigation, or unanticipated costs in connection with the FedEx Freight Spin-Off; the timing and amount of any costs or benefits or any specific outcome, transaction, or change (of which there can be no assurance), or the terms, timing, and structure thereof, related to our global transformation program and other ongoing reviews and initiatives; a significant data breach or other disruption to our technology infrastructure; damage to our reputation or loss of brand equity; our ability to meet our labor and purchased transportation needs while controlling related costs; failure of third-party service providers to perform as expected, or disruptions in our relationships with those providers or their provision of services to FedEx; the effect of any international conflicts or terrorist activities, including as a result of the current conflicts between Russia and Ukraine and in the Middle East; evolving or new U.S. domestic or international laws and government regulations, policies, and actions, including regulatory and/or legal compliance requirements that can affect our ability to efficiently or fully utilize our aircraft; changes in fuel prices or currency exchange rates, including significant increases in fuel prices as a result of the ongoing conflicts between Russia and Ukraine and in the Middle East and other geopolitical and regulatory developments; the effect of intense competition; our ability to match capacity to shifting volume levels; an increase in self-insurance accruals and expenses; failure to receive or collect expected insurance coverage; loss or delay in the collection of accounts receivable, including those related to tariffs in light of recent judicial rulings; the effect of technology developments, including autonomous technology and artificial intelligence; our ability to effectively operate, integrate, leverage, and grow acquired businesses and complete and realize the anticipated benefits of acquisitions and other strategic transactions including FedEx's investment in InPost, as a consortium member, and related commercial agreements; noncash impairment charges related to our goodwill and certain deferred tax assets; the future rate of e-commerce growth; future guidance, regulations, interpretations, challenges, or judicial decisions related to tariffs and our tax positions; labor-related disruptions; legal challenges or changes related to service providers contracted to conduct certain linehaul and pickup-and-delivery operations and the drivers providing services on their behalf and the coverage of U.S. employees at Federal Express Corporation under the Railway Labor Act of 1926, as amended; our ability to quickly and effectively restore operations following adverse weather or a localized disaster or disturbance in a key geography; the effects of a widespread outbreak of an illness or any other communicable disease or public health crises; any liability resulting from and the costs of defending against litigation, including refunds of tariffs; our ability to achieve or demonstrate progress on our goal of carbon-neutral operations by 2040; successful completion

of future stock repurchases; and other factors which can be found in FedEx Corp.’s and its subsidiaries’ press releases and FedEx Corp.’s filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended May 31, 2026 and subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contact:

Caitlin Maier

901-434-8100

mediarelations@fedex.com

Investor Relations Contact:

Jeni Hollander

901-818-7200

ir@fedex.com

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES

TO GAAP FINANCIAL MEASURES

Results for the three months ended September 30, 2026 and 2025

The company reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP” or “reported”). We have supplemented the reporting of our financial information determined in accordance with GAAP with certain non-GAAP (or “adjusted”) financial measures, including our adjusted consolidated operating income and margin, income taxes, net income and diluted earnings per share, adjusted Express U.S. Domestic segment operating income and margin, and adjusted Express International segment operating income and margin for the 3-months ended September 30, 2026 and 2025. These financial measures are based on continuing operations and have been adjusted to exclude the effects of the following items (as applicable):

•Gain/Loss on retained investment in FedEx Freight: On June 1, 2026, FedEx completed the spin-off of FedEx Freight into an independent, publicly traded company (the “Spin-Off”). Following the Spin-Off, we retained a 19.9% ownership interest in FedEx Freight, which is accounted for as an equity security and recorded at fair value. Changes in fair value are recognized through net income.

•Gain on extinguishment of debt: On July 14, 2026, FedEx utilized the cash proceeds from the dividend received from FedEx Freight in connection with the Spin-Off, as well as cash on hand, to complete cash tender offers for certain outstanding debt securities. The gain on partial extinguishment is net of a proportional amount of the related unamortized discount, premium and debt issuance costs attributable to the repurchased securities.

•Restructuring, exit and other costs incurred: These costs relate to the multi-year restructuring, business realignment, and exit activities designed to improve operating efficiency, reduce costs, or optimize FedEx’s business portfolio. These costs also include those related to the Spin-Off and FedEx’s change in fiscal year end from May 31 to December 31. These costs were primarily related to severance, incentive payments to contracted service providers, and professional services.

◦Deferred income tax benefit on FedEx Supply Chain basis difference: A $263 million deferred income tax benefit has been recorded for the difference in the U.S. income tax and US GAAP book basis with respect to the FedEx Supply Chain business that was classified to held for sale in the third quarter.

The income tax effect of these costs is calculated based upon the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. The impact of these non-GAAP items on the company's

effective tax rate represents the difference in the effective tax rate calculated with and without the non-GAAP adjustment.

We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the company's and our business segments' core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. These adjustments are consistent with how management views our businesses. Management uses these non-GAAP financial measures in making financial, operating, and planning decisions and evaluating the company's and each business segments' ongoing performance.

Our non-GAAP financial measures are intended to supplement and should be read together with, and are not an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of our financial statements should not place undue reliance on these non-GAAP financial measures. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. As required by SEC rules, the tables below present a reconciliation of our presented non-GAAP financial measures to the most directly comparable GAAP measures.

Calendar 2026 Earnings Per Share and Effective Tax Rate Forecasts

Our calendar 2026 EPS forecast is a non-GAAP financial measure because it excludes MTM adjustments for retirement plan accounting, MTM accounting for the FedEx Freight investment, gain on extinguishment of debt, and estimated restructuring, exit and other costs.

Our calendar 2026 ETR forecast is a non-GAAP financial measure because it excludes the effect of MTM adjustments for retirement plan accounting, MTM accounting for the FedEx Freight investment, and a $263 million deferred income tax benefit on FedEx Supply Chain basis difference.

We have provided these non-GAAP financial measures for the same reasons that were outlined above for historical non-GAAP measures. The adjustments reflected in our calendar 2026 EPS and ETR forecasts are excluded for the same reasons described above for the corresponding historical non-GAAP measures.

We are unable to predict the amount of the additional MTM adjustments for retirement plan accounting and MTM accounting for the FedEx Freight investment, as they are significantly affected by changes in interest rates and the financial markets, so such adjustments are not included in our calendar 2026 EPS and ETR forecasts. For this reason, a full reconciliation of our calendar 2026 EPS

and ETR forecasts to the most directly comparable GAAP measures is impracticable. It is reasonably possible, however, that our calendar 2026 MTM adjustments for retirement plan accounting and MTM accounting for the FedEx Freight investment could have a material effect on our calendar 2026 consolidated financial results and ETR.

The table below titled “Calendar 2026 Diluted Earnings Per Share Forecast” outlines the effects of the items that are excluded from our calendar 2026 EPS forecast, other than additional MTM adjustments for retirement plan accounting and MTM accounting for the FedEx Freight investment.

THREE MONTHS ENDED SEPTEMBER 30, 2026

FedEx Corporation

Diluted

Earnings

Per Share

Operating

Income

Taxes(1)

Net

Income(2)

In millions, except per share amounts Income Margin

GAAP measure $ 1,067 4.7 % $ 134 $ 290 $ 1.21

Loss on short-term investment(3)

— — % — 1,238 5.18

Gain on extinguishment of debt(3)

— — % (159) (468) (1.97)

Restructuring, exit and other costs(4)

130 0.6 % 294 (164) (0.68)

Non-GAAP measure $ 1,197 5.3 % $ 269 $ 896 $ 3.74

Express U.S. Domestic Segment

Operating

In millions Income Margin

GAAP measure $ 946 6.4 %

Restructuring, exit and other costs 26 0.2 %

Non-GAAP measure $ 972 6.6 %

Express International Segment

Operating

In millions Income Margin

GAAP measure $ 220 2.9 %

Restructuring, exit and other costs 77 1.0 %

Non-GAAP measure $ 297 3.9 %

THREE MONTHS ENDED SEPTEMBER 30, 2025

FedEx Corporation

Diluted

Earnings

Per Share

Operating

Income

Taxes(1)

Net

Income(2)

In millions, except per share amounts Income Margin

GAAP measure $ 972 4.8 % $ 269 $ 645 $ 2.73

Restructuring, exit and other costs(4)

61 0.3 % 13 48 0.20

Non-GAAP measure $ 1,033 5.1 % $ 282 $ 693 $ 2.93

Express U.S. Domestic Segment

Operating

In millions Income Margin

GAAP measure $ 884 6.6 %

Restructuring, exit and other costs 21 0.2 %

Non-GAAP measure $ 905 6.8 %

Express International Segment

Operating

In millions Income Margin

GAAP measure $ 192 3.0 %

Restructuring, exit and other costs 4 0.1 %

Non-GAAP measure $ 196 3.1 %

CALENDAR 2026 DILUTED EARNINGS PER SHARE FORECAST

Diluted Earnings Per Share

In millions, except per share amounts

Adjustments

Diluted earnings per share from continuing operations (GAAP)(5)

$35.30 to $35.90

Restructuring, exit and other costs $579

Gain on short-term investment (3,254)

MTM adjustment for retirement plan accounting (788)

Gain on extinguishment of debt (627)

Total adjustments $(4,090)

Income tax effect(1)

(50)

Net of tax effect

$(4,140) (17.30)

Diluted earnings per share with adjustments (non-GAAP)(5)

$18.00 to $18.60

Notes:

(1) Income taxes are based on the approximate statutory tax rates applicable to

each transaction. FedEx Corporation three months ended September 30, 2026, Income Taxes for “Restructuring, exit and other costs” includes a $263 million deferred income tax benefit on a FedEx Supply Chain basis difference. This benefit is also included in the “Income tax effect” line item above.

(2) Effect of “total other (expense) income” on net income from continuing operations is not shown.

(3) These expenses were recognized at Corporate, other, and eliminations.

(4) These expenses were recognized at Express U.S. Domestic, Express International, and Corporate, other, and eliminations.

(5) Additional MTM adjustments for retirement plan accounting and adjustments related to MTM accounting for the FedEx Freight investment, which are impracticable to calculate at this time, are excluded.

FEDEX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended Nine Months Ended

In millions, except per share amounts September 30, 2026 September 30, 2025 Percent

Change September 30, 2026 September 30, 2025 Percent

Change

Revenue:

Express U.S. Domestic segment $ 14,710 $ 13,392 10 $ 43,190 $ 38,636 12

Express International segment 7,465 6,363 17 21,371 18,509 15

Corporate, other, and eliminations(1)

680 677 — 2,012 2,059 (2)

Total Revenue 22,855 20,432 12 66,573 59,204 12

Operating Expenses:

Salaries and employee benefits 7,434 7,078 5 22,503 20,508 10

Purchased transportation 6,455 5,419 19 17,953 15,508 16

Rentals and landing fees 1,183 1,129 5 3,499 3,293 6

Fuel 1,270 774 64 3,434 2,257 52

Depreciation and amortization 967 972 (1) 2,949 2,912 1

Maintenance and repairs 794 784 1 2,264 2,218 2

Other, net 3,685 3,304 12 10,658 9,888 8

Total Operating Expenses 21,788 19,460 12 63,260 56,584 12

Operating income (loss):

Express U.S. Domestic segment 946 884 7 3,205 2,646 21

Express International segment 220 192 15 447 326 37

Corporate, other, and eliminations(1)

(99) (104) 5 (339) (352) 4

Total Operating Income 1,067 972 10 3,313 2,620 26

Other (Expense) Income:

Gain/(loss) on short-term investment (1,238) — NM 3,254 — NM

Interest, net (66) (125) (47) (304) (364) (16)

Other, non-operating, net 661 67 887 1,583 545 191

Total Other (Expense) Income (643) (58) 1009 4,533 181 2405

Income Before Income Taxes 424 914 (54) 7,846 2,801 180

Provision for Income Taxes 134 269 (50) 763 706 8

Income from continuing operations

290 645 (55) 7,083 2,095 238

Income from discontinued operations, net of taxes

— 275 NM 112 1,034 (89)

Net Income $ 290 $ 920 (68) $ 7,195 $ 3,129 130

Continuing operations $ 1.21 $ 2.73 (56) $ 29.42 $ 8.76 236

Discontinued operations — 1.16 NM 0.47 4.32 (89)

Diluted Earnings Per Share $ 1.21 $ 3.89 (69) $ 29.89 $ 13.08 129

Weighted Average Common and

Common Equivalent Shares 239 237 1 240 239 1

Capital Expenditures $ 844 $ 587 44 $ 2,859 $ 2,720 5

(1) – Includes the FedEx Office, FedEx Supply Chain, and FedEx Dataworks operating segments.

FEDEX CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

In millions, except share amounts September 30, 2026 December 31, 2025

ASSETS

CURRENT ASSETS

Cash and cash equivalents $ 7,961 $ 6,531

Receivables, less allowances 10,886 11,957

Short-term investment 3,254 —

Prepaid expenses and other 2,256 1,361

Spare parts, supplies, and fuel, less allowances

646 615

Current assets of discontinued operations — 1,111

Total current assets 25,003 21,575

PROPERTY AND EQUIPMENT, NET 39,686 38,736

OTHER LONG-TERM ASSETS

Operating lease right-of-use assets, net 14,407 14,715

Goodwill and other assets 11,329 10,448

Equity method investment 2,501 —

Non-current assets of discontinued operations — 4,837

Total other long-term assets 28,237 30,000

TOTAL ASSETS $ 92,926 $ 90,311

LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT

CURRENT LIABILITIES

Accrued and other liabilities $ 9,651 $ 8,509

Accounts and notes payable 6,959 4,355

Accrued salaries and employee benefits 2,230 2,610

Current liabilities of discontinued operations — 711

Total current liabilities 18,840 16,185

LONG-TERM DEBT, LESS CURRENT PORTION 17,304 20,302

OTHER LONG-TERM LIABILITIES

Operating lease liabilities 12,262 12,671

Self-insurance accruals 4,320 4,163

Deferred income taxes 3,011 3,486

Other liabilities 2,621 2,480

Non-current liabilities of discontinued operations — 1,743

Total other long-term liabilities 22,214 24,543

COMMITMENTS AND CONTINGENCIES

COMMON STOCKHOLDERS' INVESTMENT

Common stock, $0.10 par value, 800 million shares authorized 32 32

Additional paid-in capital 4,861 4,418

Retained earnings 49,677 43,110

Accumulated other comprehensive loss (1,766) (1,342)

Treasury stock, at cost (18,236) (16,937)

Total common stockholders' investment 34,568 29,281

TOTAL LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT $ 92,926 $ 90,311

FEDEX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months Ended

In millions September 30, 2026 September 30, 2025

Operating Activities:

Net income $ 7,195 $ 3,129

Adjustments to reconcile net income to cash provided by operating activities:

Depreciation and amortization 3,142 3,215

Other noncash items, net 2,205 2,385

Gain on short-term investment (3,254) —

Gain from early extinguishment of debt (627) —

Changes in operating assets and liabilities, net (1,213) (2,091)

Cash provided by operating activities 7,448 6,638

Investing Activities:

Purchase of equity method investment (2,501) —

Capital expenditures (3,045) (2,925)

Purchase of investments (512) (149)

Proceeds from sale of investments 438 88

Proceeds from asset dispositions and other investing activities, net 44 89

Cash used in investing activities (5,576) (2,897)

Financing Activities:

Proceeds from debt issuances 8,943 997

Principal payments on debt (7,142) (741)

Proceeds from stock issuances 1,010 102

Dividends paid (979) (1,008)

Purchases of common stock (2,000) (1,732)

Distribution attributable to the Spin-Off (251) —

Other, net (67) (31)

Cash used in financing activities (486) (2,413)

Effect of exchange rate changes on cash (56) 204

Net increase in cash and cash equivalents 1,330 1,532

Cash and cash equivalents from continuing operations at beginning of period 6,531 4,854

Cash and cash equivalents from discontinued operations at beginning of period

100 76

Cash and cash equivalents at end of period $ 7,961 $ 6,462

Note: The condensed consolidated statements of cash flows herein have not been recast to reflect discontinued operations for any periods presented.

EXPRESS U.S. DOMESTIC SEGMENT

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended Nine Months Ended

In millions September 30, 2026 September 30, 2025 Percent

Change September 30, 2026 September 30, 2025 Percent

Change

Revenue:

U.S. Package:

U.S. priority $ 3,142 $ 2,826 11 $ 9,121 $ 8,144 12

U.S. deferred 1,406 1,302 8 4,219 3,794 11

U.S. ground 9,545 8,748 9 28,086 25,338 11

Total package revenue 14,093 12,876 9 41,426 37,276 11

U.S. Freight 366 315 16 1,032 900 15

Other 251 201 25 732 460 59

Total revenue 14,710 13,392 10 43,190 38,636 12

Operating expenses:

Salaries and employee benefits 4,624 4,471 3 14,200 12,914 10

Purchased transportation 4,473 3,778 18 12,372 10,718 15

Rentals and landing fees 687 674 2 2,041 1,979 3

Fuel 410 263 56 1,129 773 46

Depreciation and amortization 647 656 (1) 1,954 1,960 —

Maintenance and repairs 529 498 6 1,500 1,405 7

Other, net 2,394 2,168 10 6,789 6,241 9

Total operating expenses 13,764 12,508 10 39,985 35,990 11

Operating income $ 946 $ 884 7 $ 3,205 $ 2,646 21

Operating margin 6.4% 6.6% (20) bp 7.4% 6.8% 60 bp

EXPRESS U.S. DOMESTIC SEGMENT

OPERATING STATISTICS

(Unaudited)

Three Months Ended Nine Months Ended

In thousands, except yield amounts September 30, 2026 September 30, 2025 Percent

Change September 30, 2026 September 30, 2025 Percent

Change

PACKAGE STATISTICS

Avg. daily package volume (ADV)(1):

U.S. priority 1,742 1,681 4 1,696 1,629 4

U.S. deferred 1,056 1,074 (2) 1,069 1,052 2

U.S. ground commercial 4,521 4,370 3 4,404 4,244 4

U.S. ground home delivery/economy 7,051 6,969 1 6,968 6,773 3

Total U.S. domestic ADV 14,370 14,094 2 14,137 13,698 3

Revenue per package (yield):

U.S. priority $ 28.18 $ 26.27 7 $ 28.15 $ 26.17 8

U.S. deferred 20.81 18.96 10 20.66 18.88 9

U.S. ground 12.89 12.05 7 12.93 12.04 7

U.S. domestic composite $ 15.32 $ 14.28 7 $ 15.34 $ 14.25 8

FREIGHT STATISTICS

Average daily freight pounds:

U.S. freight 2,426 2,202 10 2,275 2,208 3

Revenue per pound (yield):

U.S. freight $ 2.36 $ 2.23 6 $ 2.38 $ 2.13 12

Operating days 64 64 — 191 191 —

(1) – ADV is calculated on a 5-day-per-week basis.

EXPRESS INTERNATIONAL SEGMENT

CONDENSED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended Nine Months Ended

In millions September 30, 2026 September 30, 2025 Percent

Change September 30, 2026 September 30, 2025 Percent

Change

Revenue:

Intl Package:

International priority $ 2,677 $ 2,325 15 $ 7,744 $ 6,607 17

International economy 1,680 1,403 20 4,747 4,201 13

International domestic(1)

1,156 1,166 (1) 3,478 3,354 4

Total package revenue 5,513 4,894 13 15,969 14,162 13

Freight:

International priority 784 588 33 2,183 1,752 25

International economy 658 538 22 1,835 1,549 18

Total freight revenue 1,442 1,126 28 4,018 3,301 22

Other

510 343 49 1,384 1,046 32

Total revenue

7,465 6,363 17 21,371 18,509 15

Operating expenses:

Salaries and employee benefits 2,408 2,190 10 6,988 6,321 11

Purchased transportation 1,893 1,588 19 5,380 4,635 16

Rentals and landing fees 390 356 10 1,143 1,020 12

Fuel 859 510 68 2,303 1,482 55

Depreciation and amortization 294 292 1 904 877 3

Maintenance and repairs 236 261 (10) 678 733 (8)

Other, net 1,165 974 20 3,528 3,115 13

Total operating expenses 7,245 6,171 17 20,924 18,183 15

Operating income $ 220 $ 192 15 $ 447 $ 326 37

Operating margin 2.9 % 3.0 % (10) bp 2.1 % 1.8 % 30 bp

(1) – International Domestic revenue relates to international intra-country operations.

EXPRESS INTERNATIONAL SEGMENT

OPERATING STATISTICS

(Unaudited)

Three Months Ended Nine Months Ended

In thousands, except yield amounts September 30, 2026 September 30, 2025

Percent

Change

September 30, 2026 September 30, 2025

Percent

Change

PACKAGE STATISTICS

Avg. daily package volume (ADV)(1):

International priority

563 569 (1) 566 555 2

International economy

625 532 17 599 538 11

International domestic(2)

1,640 1,846 (11) 1,679 1,848 (9)

Total International ADV

2,828 2,947 (4) 2,844 2,941 (3)

Revenue per package (yield):

International priority

$ 74.27 $ 63.87 16 $ 71.62 $ 62.30 15

International economy

41.98 41.23 2 41.46 40.87 1

International domestic(2)

11.02 9.87 12 10.85 9.50 14

Composite package yield

$ 30.46 $ 25.96 17 $ 29.39 $ 25.21 17

FREIGHT STATISTICS

Average daily freight pounds:

International priority

5,472 4,782 14 5,241 4,658 13

International economy

13,333 11,514 16 12,772 11,424 12

Total average daily freight pounds

18,805 16,296 15 18,013 16,082 12

Revenue per pound (yield):

International priority

$ 2.24 $ 1.92 17 $ 2.18 $ 1.97 11

International economy

0.77 0.73 5 0.75 0.71 6

Composite freight yield

$ 1.20 $ 1.08 11 $ 1.17 $ 1.08 8

Operating days

64 64 — 191 191 —

(1) – ADV is calculated on a 5-day-per-week basis.

(2) – International Domestic Statistics relate to international intra-country operations.

GRAPHIC

Filename: fdx-20261028_g1.jpg · Sequence: 7

Binary file (19406 bytes)

Download fdx-20261028_g1.jpg

GRAPHIC

Filename: image.jpg · Sequence: 8

Binary file (3952 bytes)

Download image.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 10

v3.26.3

Cover

Oct. 28, 2026

Document Information [Line Items]

Document Type

8-K

Document Period End Date

Oct. 28, 2026

Registrant Name

FedEx Corporation

Entity File Number

1-15829

Entity Incorporation, State or Country Code

Entity Tax Identification Number

62-1721435

Entity Address, Address Line One

942 South Shady Grove Road

Entity Address, City or Town

Memphis

Entity Address, State or Province

Entity Address, Postal Zip Code

38120

City Area Code

(901)

Local Phone Number

818-7500

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Entity Emerging Growth Company

false

Amendment Flag

false

Central Index Key

0001048911

Common Stock, par value $0.10 per share

Document Information [Line Items]

Title of 12(b) Security

Common Stock, par value $0.10 per share

Trading Symbol

FDX

Security Exchange Name

NYSE

1.625% Notes due 2027

Document Information [Line Items]

Title of 12(b) Security

1.625% Notes due 2027

Trading Symbol

FDX 27

Security Exchange Name

NYSE

0.450% Notes due 2029

Document Information [Line Items]

Title of 12(b) Security

0.450% Notes due 2029

Trading Symbol

FDX 29A

Security Exchange Name

NYSE

0.450% Notes due 2029

Document Information [Line Items]

Title of 12(b) Security

0.450% Notes due 2029

Trading Symbol

FDX 29B

Security Exchange Name

NYSE

4.000% Notes due 2030

Document Information [Line Items]

Title of 12(b) Security

4.000% Notes due 2030

Trading Symbol

FDX 30A

Security Exchange Name

NYSE

1.300% Notes due 2031

Document Information [Line Items]

Title of 12(b) Security

1.300% Notes due 2031

Trading Symbol

FDX 31B

Security Exchange Name

NYSE

3.500% Notes due 2032

Document Information [Line Items]

Title of 12(b) Security

3.500% Notes due 2032

Trading Symbol

FDX 32

Security Exchange Name

NYSE

0.950% Notes due 2033

Document Information [Line Items]

Title of 12(b) Security

0.950% Notes due 2033

Trading Symbol

FDX 33

Security Exchange Name

NYSE

0.950% Notes due 2033

Document Information [Line Items]

Title of 12(b) Security

0.950% Notes due 2033

Trading Symbol

FDX 33A

Security Exchange Name

NYSE

4.625% Notes due 2034

Document Information [Line Items]

Title of 12(b) Security

4.625% Notes due 2034

Trading Symbol

FDX 34A

Security Exchange Name

NYSE

4.125% Notes due 2037

Document Information [Line Items]

Title of 12(b) Security

4.125% Notes due 2037

Trading Symbol

FDX 37

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:

dei_DocumentInformationLineItems

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Details

Name:

us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_OnePointSixTwoFivePercentageNotesDueTwoThousandTwentySevenMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_ZeroPointFourFiveZeroPercentNotesDueTwoThousandTwentyNineMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_ZeroPointFourFiveZeroPercentageNotesDueTwoThousandTwentyNineMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_FourPointZeroZeroZeroPercentageNotesDueTwoThousandThirtyMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_OnePointThreeZeroZeroPercentNotesDueTwoThousandThirtyOne2Member

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_ThreePointFiveZeroZeroPercentNotesDueTwoThousandThirtyTwoMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_ZeroPointNineFiveZeroPercentNotesDueTwoThousandThirtyThree1Member

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_ZeroPointNineFiveZeroPercentageNotesDueTwoThousandThirtyThree2Member

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_FourPointSixTwoFivePercentageNotesDueTwoThousandThirtyFourMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type:

- Details

Name:

us-gaap_StatementClassOfStockAxis=fdx_FourPointOneTwoFivePercentNotesDueTwoThousandThirtySevenMember

Namespace Prefix:

Data Type:

Balance Type:

Period Type: