FedEx Files 2024 10-K: Financials and Operations Detailed
Ticker: FDX · Form: 10-K · Filed: 2024-07-15T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, annual-report, logistics, financials
TL;DR
FedEx dropped its 2024 10-K. All the deets on revenue, debt, and operations for the year ending May 31.
AI Summary
FedEx Corp. filed its 10-K for the fiscal year ending May 31, 2024. The filing details the company's financial performance and operations, including its various segments like FedEx Express. Key financial elements such as long-term debt and property, plant, and equipment are reported. The company is incorporated in Delaware and headquartered in Memphis, TN.
Why It Matters
This 10-K filing provides investors and analysts with a comprehensive overview of FedEx's financial health and strategic positioning for the past fiscal year, influencing investment decisions and market sentiment.
Risk Assessment
Risk Level: medium — Annual 10-K filings are standard disclosures for public companies and generally carry a medium risk level due to the inherent uncertainties in financial reporting and future business performance.
Key Numbers
- 0531 — Fiscal Year End (The end date of the reporting period for the 10-K.)
- 20240531 — Reporting Period End Date (Specific date for the end of the fiscal year reported.)
- 20240715 — Filing Date (The date the 10-K was officially submitted to the SEC.)
Key Players & Entities
- FEDEX CORP (company) — Filer
- 20240531 (date) — Fiscal Year End
- 20240715 (date) — Filing Date
- 9018187500 (dollar_amount) — Business Phone
- FDX CORP (company) — Former Company Name
- FedEx Express (company) — Operating Segment
FAQ
What is the primary business of FedEx Corp?
FedEx Corp operates in the Air Courier Services industry, as indicated by its SIC code [4513].
When did FedEx Corp's fiscal year end for this filing?
The Conformed Period of Report is 20240531, meaning the fiscal year ended on May 31, 2024.
What is FedEx Corp's headquarters address?
The business address is 942 South Shady Grove Road, Memphis, TN 38120.
What was FedEx Corp's former company name?
The former company name was FDX CORP, with a date of name change on 19971103.
What is the SEC file number for this 10-K filing?
The SEC File Number is 001-15829.
Filing Stats: 4,366 words · 17 min read · ~15 pages · Grade level 13.1 · Accepted 2024-07-15 16:16:29
Key Financial Figures
- $0.10 — ch registered Common Stock, par value $0.10 per share FDX New York Stock Exchan
Filing Documents
- fdx-20240531.htm (10-K) — 5915KB
- fdx-ex4_1.htm (EX-4.1) — 129KB
- fdx-ex10_47.htm (EX-10.47) — 647KB
- fdx-ex10_48.htm (EX-10.48) — 644KB
- fdx-ex10_60.htm (EX-10.60) — 256KB
- fdx-ex10_67.htm (EX-10.67) — 16KB
- fdx-ex19.htm (EX-19) — 60KB
- fdx-ex21.htm (EX-21) — 69KB
- fdx-ex22.htm (EX-22) — 25KB
- fdx-ex23.htm (EX-23) — 15KB
- fdx-ex31_1.htm (EX-31.1) — 13KB
- fdx-ex31_2.htm (EX-31.2) — 13KB
- fdx-ex32_1.htm (EX-32.1) — 6KB
- fdx-ex32_2.htm (EX-32.2) — 6KB
- fdx-ex97_1.htm (EX-97.1) — 20KB
- img167630102_0.jpg (GRAPHIC) — 502KB
- img167630102_1.jpg (GRAPHIC) — 91KB
- img167630102_2.jpg (GRAPHIC) — 80KB
- 0000950170-24-083577.txt ( ) — 28081KB
- fdx-20240531.xsd (EX-101.SCH) — 2532KB
- fdx-20240531_htm.xml (XML) — 5949KB
Business
ITEM 1. Business 2
Risk Factors
ITEM 1A. Risk Factors 24
Unresolved Staff Comments
ITEM 1B. Unresolved Staff Comments 37
Cybersecurity
ITEM 1C. Cybersecurity 37
Properties
ITEM 2. Properties 38
Legal Proceedings
ITEM 3. Legal Proceedings 42
Mine Safety Disclosures
ITEM 4. Mine Safety Disclosures 42 Information about our Executive Officers 43 PART II
Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 45
[RESERVED]
ITEM 6. [RESERVED] 45
Management's Discussion and Analysis of Results of Operations and Financial Condition
ITEM 7. Management's Discussion and Analysis of Results of Operations and Financial Condition 46
Quantitative and Qualitative Disclosures About Market Risk
ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 71
Financial Statements and Supplementary Data
ITEM 8. Financial Statements and Supplementary Data 72
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
ITEM 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 116
Controls and Procedures
ITEM 9A. Controls and Procedures 116
Other Information
ITEM 9B. Other Information 116
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 116 PART III
Directors, Executive Officers, and Corporate Governance
ITEM 10. Directors, Executive Officers, and Corporate Governance 117
Executive Compensation
ITEM 11. Executive Compensation 117
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 117
Certain Relationships and Related Transactions, and Director Independence
ITEM 13. Certain Relationships and Related Transactions, and Director Independence 117
Principal Accountant Fees and Services
ITEM 14. Principal Accountant Fees and Services 117 PART IV
Exhibits and Financial Statement Schedules
ITEM 15. Exhibits and Financial Statement Schedules 118
Form 10-K Summary
ITEM 16. Form 10-K Summary 126 - 1 - PART I
B USINESS
ITEM 1. B USINESS Overview FedEx Corporation ("FedEx") was incorporated in Delaware on October 2, 1997 to serve as the parent holding company and provide strategic direction to the FedEx portfolio of companies. FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services, offering integrated business solutions utilizing its flexible, efficient, and intelligent global network. Our website is located at fedex.com . Detailed information about our services, e-commerce tools and solutions, and environmental, social, and governance ("ESG") initiatives can be found on our website. In addition, we make our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all exhibits and amendments to such reports available, free of charge, through our website, as soon as reasonably practicable on the day they are filed with or furnished to the SEC. 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 the Investor Relations page of our website could be deemed to be material information. We encourage investors, the media, and others interested in FedEx to visit this website from time to time, as information is updated and new information is posted. The information on our website, however, is not incorporated by reference in, and does not form part of, this Annual Report. Except as otherwise specified, any reference to a year in this Annual Report indicates our fiscal year ended May 31 of the year referenced. One FedEx Consolidation and New Reportable Segments In the fourth quarter of 2023, we announced one FedEx, a consolidation plan to bring FedEx Ground Package System, Inc. ("FedEx Ground") and FedEx Corporate Services, Inc. ("FedEx Services") into Federal Express Corporation ("Federal Express"),