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

	May 31, 2026	Feb 28, 2026	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
Cash and cash equivalents	13,311)	8,008)	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)
Restricted cash	—)	3,680)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Receivables, less allowances	12,672)	11,807)	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)
Spare parts, supplies, and fuel, less allowances	669)	631)	631)	604)	602)	617)	620)	611)	614)	640)	632)	631)	604)	631)	655)	647)	637)	611)	594)	577)	587)	583)	587)	593)
Prepaid expenses and other	1,251)	1,351)	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)
Current assets	27,903)	25,477)	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)
Property and equipment, at cost	90,926)	90,106)	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)
Accumulated depreciation and amortization	(48,882)	(48,567)	(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)
Net property and equipment	42,044)	41,539)	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)
Operating lease right-of-use assets, net	16,822)	16,391)	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)
Goodwill	6,733)	6,758)	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)
Other assets	5,435)	4,568)	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)
Other long-term assets	28,990)	27,717)	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)
Long-term assets	71,034)	69,256)	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)
Total assets	98,937)	94,733)	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)

Total assets exhibit a long-term upward trajectory, expanding from 77,648 million USD in August 2020 to 98,937 million USD by May 2026. This growth is characterized by a steady increase in long-term infrastructure investments and a substantial surge in liquid assets during the final year of the observed period.

Liquidity and Current Asset Trends: Current assets remained relatively stable between 17,000 million USD and 21,000 million USD for the majority of the period, before experiencing a sharp escalation starting in February 2026. This increase is primarily driven by cash and cash equivalents, which rose from 5,135 million USD in February 2025 to 13,311 million USD by May 2026. Additionally, the emergence of 3,680 million USD in restricted cash in February 2026 contributed to the overall expansion of short-term liquidity.; Receivables, less allowances, showed a pattern of fluctuation without a definitive long-term trend, generally oscillating between 9,900 million USD and 12,600 million USD, ending the period at a high of 12,672 million USD.
Fixed Asset and Capital Investment Analysis: Property and equipment at cost grew consistently every quarter, rising from 66,446 million USD in August 2020 to 90,926 million USD in May 2026, indicating sustained capital expenditure in physical infrastructure. However, the net property and equipment growth was more moderate due to a corresponding increase in accumulated depreciation and amortization, which grew from 32,184 million USD to 48,882 million USD over the same period.; Operating lease right-of-use assets, net, peaked in February 2022 at 16,605 million USD and subsequently stabilized, ending the period at 16,822 million USD.
Long-term Asset Composition: Long-term assets increased from 58,745 million USD to 71,034 million USD. While net property and equipment provided the primary growth driver, other long-term assets also saw an increase, moving from 24,483 million USD to 28,990 million USD.; Goodwill remained remarkably stable throughout the period, fluctuating narrowly between 6,290 million USD and 6,992 million USD, suggesting a lack of significant new acquisitions contributing to the asset base during this timeframe.

The overall asset structure shifted from a heavy reliance on fixed asset growth to a more balanced position with a significant increase in current liquidity toward the end of the series. The consistent rise in gross property and equipment suggests a long-term strategy of capacity expansion, while the sudden increase in cash positions in 2026 indicates a significant shift in capital allocation or funding.

FedEx Corp. (NYSE:FDX)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

FedEx Corp. (NYSE:FDX)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data