Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

FedEx Corp., consolidated income statement

US$ in millions

12 months ended:	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
Revenue	87,693)	90,155)	93,512)	83,959)	69,217)	69,693)
Salaries and employee benefits	(30,961)	(31,019)	(32,058)	(30,173)	(25,031)	(24,776)
Purchased transportation	(20,921)	(21,790)	(24,118)	(21,674)	(17,466)	(16,654)
Rentals and landing fees	(4,571)	(4,738)	(4,712)	(4,155)	(3,712)	(3,360)
Depreciation and amortization	(4,287)	(4,176)	(3,970)	(3,793)	(3,615)	(3,353)
Fuel	(4,710)	(5,909)	(5,115)	(2,882)	(3,156)	(3,889)
Maintenance and repairs	(3,291)	(3,357)	(3,372)	(3,328)	(2,893)	(2,834)
Goodwill and other asset impairment charges	(157)	(117)	—)	—)	(435)	—)
Business optimization and realignment costs	(582)	(309)	(278)	(116)	—)	(320)
Other	(12,654)	(13,828)	(13,644)	(11,981)	(10,492)	(10,041)
Operating expenses	(82,134)	(85,243)	(87,267)	(78,102)	(66,800)	(65,227)
Operating income	5,559)	4,912)	6,245)	5,857)	2,417)	4,466)
Interest expense	(745)	(694)	(689)	(793)	(672)	(588)
Interest income	370)	198)	53)	52)	55)	59)
Other retirement plans income (expense)	722)	1,054)	(726)	1,983)	(122)	(3,251)
Loss on debt extinguishment	—)	—)	—)	(393)	—)	—)
Other, net	(70)	(107)	13)	(32)	(9)	(31)
Other income (expense)	277)	451)	(1,349)	817)	(748)	(3,811)
Income before income taxes	5,836)	5,363)	4,896)	6,674)	1,669)	655)
Provision for income taxes	(1,505)	(1,391)	(1,070)	(1,443)	(383)	(115)
Net income	4,331)	3,972)	3,826)	5,231)	1,286)	540)

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	FedEx Corp. revenue decreased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	FedEx Corp. operating income decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	FedEx Corp. income before income taxes increased from 2022 to 2023 and from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	FedEx Corp. net income increased from 2022 to 2023 and from 2023 to 2024.

FedEx Corp. (NYSE:FDX)

Income Statement