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.

FedEx Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Nov 30, 2025	Aug 31, 2025	May 31, 2025	Feb 28, 2025	Nov 30, 2024	Aug 31, 2024	May 31, 2024	Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	May 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019
Cash and cash equivalents	6,570)	6,166)	5,502)	5,135)	5,029)	5,943)	6,501)	5,644)	6,729)	7,055)	6,856)	5,373)	4,646)	6,850)	6,897)	6,065)	6,833)	6,853)	7,087)	8,856)	8,339)	6,954)	4,881)	1,766)	2,031)	2,389)
Receivables, less allowances	12,159)	11,516)	11,368)	10,230)	10,737)	10,312)	10,087)	9,904)	10,665)	10,207)	10,188)	10,721)	11,644)	11,055)	11,863)	11,668)	12,197)	11,125)	12,069)	11,481)	11,417)	10,508)	10,102)	9,323)	9,709)	9,312)
Spare parts, supplies, and fuel, less allowances	631)	604)	602)	617)	620)	611)	614)	640)	632)	631)	604)	631)	655)	647)	637)	611)	594)	577)	587)	583)	587)	593)	572)	568)	576)	574)
Prepaid expenses and other	1,293)	1,058)	914)	1,232)	1,335)	1,228)	1,005)	1,236)	1,091)	994)	962)	1,219)	1,272)	1,054)	968)	1,122)	1,123)	991)	837)	790)	922)	848)	828)	884)	882)	742)
Current assets	20,653)	19,344)	18,386)	17,214)	17,721)	18,094)	18,207)	17,424)	19,117)	18,887)	18,610)	17,944)	18,217)	19,606)	20,365)	19,466)	20,747)	19,546)	20,580)	21,710)	21,265)	18,903)	16,383)	12,541)	13,198)	13,017)
Property and equipment, at cost	88,864)	88,126)	87,622)	86,565)	85,658)	85,158)	84,391)	84,145)	83,281)	81,992)	80,624)	79,335)	78,532)	76,712)	75,275)	74,146)	72,974)	71,542)	70,077)	68,703)	67,514)	66,446)	65,024)	64,305)	62,715)	61,436)
Accumulated depreciation and amortization	(47,542)	(46,742)	(45,980)	(45,601)	(44,652)	(43,903)	(42,900)	(42,616)	(41,749)	(40,818)	(39,926)	(39,486)	(38,811)	(37,906)	(37,184)	(36,770)	(35,821)	(35,061)	(34,325)	(33,713)	(32,904)	(32,184)	(31,416)	(30,999)	(30,307)	(29,826)
Net property and equipment	41,322)	41,384)	41,642)	40,964)	41,006)	41,255)	41,491)	41,529)	41,532)	41,174)	40,698)	39,849)	39,721)	38,806)	38,091)	37,376)	37,153)	36,481)	35,752)	34,990)	34,610)	34,262)	33,608)	33,306)	32,408)	31,610)
Operating lease right-of-use assets, net	16,184)	16,368)	16,453)	16,468)	16,821)	17,094)	17,115)	16,935)	17,243)	17,327)	17,347)	17,410)	17,373)	17,219)	16,613)	16,605)	16,018)	15,414)	15,383)	14,964)	14,845)	14,496)	13,917)	13,981)	14,097)	13,819)
Goodwill	6,626)	6,672)	6,603)	6,332)	6,290)	6,512)	6,423)	6,425)	6,468)	6,422)	6,435)	6,455)	6,377)	6,316)	6,544)	6,755)	6,702)	6,843)	6,992)	6,977)	6,702)	6,633)	6,372)	6,814)	6,861)	6,821)
Other assets	4,396)	4,648)	4,543)	4,065)	3,643)	3,756)	3,771)	3,801)	3,691)	3,766)	4,053)	4,117)	3,903)	3,879)	4,381)	3,906)	3,627)	3,764)	4,070)	4,152)	3,734)	3,354)	3,257)	3,372)	3,390)	3,185)
Other long-term assets	27,206)	27,688)	27,599)	26,865)	26,754)	27,362)	27,309)	27,161)	27,402)	27,515)	27,835)	27,982)	27,653)	27,414)	27,538)	27,266)	26,347)	26,021)	26,445)	26,093)	25,281)	24,483)	23,546)	24,167)	24,348)	23,825)
Long-term assets	68,528)	69,072)	69,241)	67,829)	67,760)	68,617)	68,800)	68,690)	68,934)	68,689)	68,533)	67,831)	67,374)	66,220)	65,629)	64,642)	63,500)	62,502)	62,197)	61,083)	59,891)	58,745)	57,154)	57,473)	56,756)	55,435)
Total assets	89,181)	88,416)	87,627)	85,043)	85,481)	86,711)	87,007)	86,114)	88,051)	87,576)	87,143)	85,775)	85,591)	85,826)	85,994)	84,108)	84,247)	82,048)	82,777)	82,793)	81,156)	77,648)	73,537)	70,014)	69,954)	68,452)

Cash and Cash Equivalents: The cash and cash equivalents balance showed significant fluctuations, peaking notably in May 2020 and November 2020, followed by a general downward trend in late 2022. In 2023 and 2024, the amounts stabilized at a moderate level before gradually increasing toward late 2025.
Receivables, less Allowances: Receivables generally trended upward from 2019 through early 2021, with intermittent decreases in mid-2022 and early 2023. The balances rebounded again in late 2023 and into 2025, indicating a recovery or growth in credit sales or services rendered.
Spare Parts, Supplies, and Fuel, less Allowances: This category remained relatively stable over the entire period with minor fluctuations, reflecting consistent inventory levels without significant buildup or depletion.
Prepaid Expenses and Other: Prepaid expenses experienced a gradual increase, especially notable from late 2019 until late 2022, with some volatility afterward. This suggests increasing prepayments or advances for operational needs or services during this period.
Current Assets: Current assets rose markedly in mid-2020, likely tied to the increase in cash and receivables seen in the same period, peaking around late 2020. Thereafter, current assets displayed some volatility but remained at higher levels compared to 2019.
Property and Equipment, at Cost: This asset category consistently increased over the entire period, reflecting ongoing investments in property and equipment with no indication of asset disposals offsetting additions.
Accumulated Depreciation and Amortization: Accumulated depreciation steadily increased, indicating continuous asset usage and aging. The rising accumulated depreciation trend aligns with the growth in the property and equipment base.
Net Property and Equipment: Net property and equipment values increased steadily until mid-2023, after which a slight decline is observed toward early 2025, suggesting either a deceleration in asset acquisitions or increased asset retirements.
Operating Lease Right-of-Use Assets, Net: Right-of-use assets exhibited a steady increase through 2022, reaching a plateau and then showing a mild decline into 2025, indicating consistency in lease asset capitalization with some lease terminations or adjustments later on.
Goodwill: Goodwill fluctuated moderately, with a peak in early 2021 and a general decline afterward, stabilizing in the 6,400–6,700 million range toward 2025. This might reflect asset impairments or adjustments post-acquisitions.
Other Assets: Other assets showed moderate fluctuation without a clear trend, maintaining a range mostly between 3,500 and 4,500 million throughout the period, indicating relatively stable non-core asset values.
Other Long-Term Assets: Other long-term assets experienced gradual growth with minor volatility, peaking near late 2024 before showing a small decrease toward 2025, indicating stability with slight adjustments in longer-term assets.
Long-Term Assets: Long-term assets steadily increased, reflecting continuous investment and asset accumulation over the years, with only minor fluctuations, supporting sustained capital expenditure activities.
Total Assets: Total assets rose significantly from 2019 through mid-2022, then fluctuated slightly but remained generally stable at elevated levels. This reflects expansion in the company’s asset base with some balancing due to asset disposals or depreciation impacts.

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FedEx Corp. (NYSE:FDX)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data