Q4 Fiscal 2019 Statistics FedEx Corporation Financial and Operating Statistics Fourth Quarter Fiscal 2019 June 25, 2019 This report is a statistical supplement to FedEx’s interim financial reports and is prepared quarterly. Additional copies are available for downloading and printing at investors.fedex.com. For more information, write or call: Mickey Foster, Vice President Elizabeth Allen, Director Stephen Hughes, Director Jeffrey Smith, Director FedEx Corp. Investor Relations 942 S. Shady Grove Road Memphis, TN 38120 Telephone: (901) 818-7200
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Q4 Fiscal 2019 Statistics
FedEx Corporation
Financial and Operating Statistics
Fourth Quarter Fiscal 2019
June 25, 2019
This report is a statistical supplement to FedEx’s interim financial reports and is prepared quarterly. Additional copies are available for downloading and printing at
investors.fedex.com. For more information, write or call:
Mickey Foster, Vice President Elizabeth Allen, Director
Stephen Hughes, Director Jeffrey Smith, Director
FedEx Corp. Investor Relations 942 S. Shady Grove Road
Memphis, TN 38120 Telephone: (901) 818-7200
TABLE OF CONTENTS
• FEDEX CORPORATION
OVERVIEW 1 CONDENSED CONSOLIDATED BALANCE SHEETS 2 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 3 ANNUAL CONSOLIDATED STATEMENTS OF INCOME 4 QUARTERLY CONSOLIDATED STATEMENTS OF INCOME FY2016 – FY2017 5 FY2018 – FY2019 6 CAPITAL EXPENDITURES 7
• FEDEX EXPRESS SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME 8 QUARTERLY CONSOLIDATED STATEMENTS OF INCOME FY2016 – FY2017 9 FY2018 – FY2019 10 ANNUAL SHIPMENT STATISTICS 11 QUARTERLY SHIPMENT STATISTICS FY2016 – FY2017 12 FY2018 – FY2019 13 FY2020 14 AIRCRAFT AND VEHICLE FLEET STATISTICS 15 JET FUEL STATISTICS 16
• FEDEX GROUND SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME 17 QUARTERLY CONSOLIDATED STATEMENTS OF INCOME FY2016 – FY2017 18 FY2018 – FY2019 19 ANNUAL SHIPMENT STATISTICS 20 QUARTERLY SHIPMENT STATISTICS FY2016 – FY2020 21
• FEDEX FREIGHT SEGMENT
ANNUAL CONSOLIDATED STATEMENTS OF INCOME 22 QUARTERLY CONSOLIDATED STATEMENTS OF INCOME FY2016 – FY2017 23 FY2018 – FY2019 24 ANNUAL SHIPMENT STATISTICS 25 QUARTERLY SHIPMENT STATISTICS FY2016 – FY2019 26 FY2020 27 Amounts for periods prior to FY2017 have not been recast to reflect the new pension accounting rules in effect for FedEx beginning in FY2019.
Q4 FY19 Stat Book / 1
FEDEX CORPORATION OVERVIEW
FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $70 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 450,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx Express invented express transportation and remains the industry’s global leader, providing rapid, reliable, time-definite delivery to more than 220 countries and territories, connecting markets that comprise more than 99 percent of the world’s gross domestic product. Unmatched air route authorities and transportation infrastructure, combined with leading-edge information technologies, make FedEx Express the world’s largest express transportation company, providing fast and reliable delivery of more than 6 million shipments and 29 million pounds of freight each business day. The FedEx Express business segment financial results include TNT Express. FedEx Ground is a leading North American provider of small-package ground delivery services. FedEx Ground provides low-cost, day-certain service to any business address in the U.S. and Canada, as well as residential delivery to 100% of U.S. residences through its FedEx Home Delivery service. FedEx SmartPost is a FedEx Ground service that specializes in the consolidation and delivery of high volumes of low-weight, less time-sensitive business-to-consumer packages primarily using the U.S. Postal Service (“USPS”) for last-mile delivery to residences. FedEx Freight is a leading North American provider of less-than-truckload (LTL) freight services across all lengths of haul, offering: FedEx Freight Priority, when speed is critical to meet a customer’s supply chain needs; and FedEx Freight Economy, when a customer can trade time for cost savings. FedEx Freight also offers freight delivery service to most points in Puerto Rico and the U.S. Virgin Islands. FedEx Services provides sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support our transportation segments. The FedEx Services business segment includes FedEx Office and Print Services, Inc., which provides document and business services and retail access to our package transportation businesses. Additionally, FedEx Logistics provides complementary services through the operations of FedEx Trade Networks Transport & Brokerage, FedEx Cross Border, FedEx Supply Chain, FedEx Custom Critical, and FedEx Forward Depots. CORPORATE HEADQUARTERS: 942 S. Shady Grove Road Memphis, TN 38120 COMMON STOCK LISTING: The New York Stock Exchange STOCK SYMBOL: FDX COMMON SHARES AUTHORIZED: 800,000,000 COMMON SHARES OUTSTANDING: 260,626,946 (as of May 31, 2019) STOCKHOLDERS OF RECORD: 11,930 (as of May 31, 2019) TRANSFER AGENT & REGISTRAR: COMPUTERSHARE PO BOX 505000 Louisville, KY 40233-5000 (800) 446-2617 FISCAL YEAR END: May 31
Current AssetsCash and cash equivalents $ 3,534 $ 3,969 $ 3,265 $ 2,319Receivables, less allowances 7,252 7,599 8,481 9,116 Spare parts, supplies and fuel, less allowances 496 514 525 553 Prepaid expenses and other 707 546 1,070 1,098 Total current assets 11,989 12,628 13,341 13,086
Property and Equipment, at CostAircraft and related equipment 17,499 18,833 20,749 22,793Package handling and ground support equipment 7,961 8,989 9,727 10,409Information technology 5,149 5,396 5,794 6,268Vehicles and trailers 6,422 6,961 7,708 8,339Facilities and other 9,987 10,447 11,143 11,702
47,018 50,626 55,121 59,511
Less accumulated depreciation and amortization 22,734 24,645 26,967 29,082
Net property and equipment 24,284 25,981 28,154 30,429
Other Long-Term AssetsGoodwill 6,747 7,154 6,973 6,884 Other assets1 2,939 2,789 3,862 4,004 Total other long-term assets 9,686 9,943 10,835 10,888
$ 45,959 $ 48,552 $ 52,330 $ 54,403
LIABILITIES AND COMMON STOCKHOLDERS' INVESTMENT
Current LiabilitiesCurrent portion of long-term debt 29$ 22$ 1,342$ 964$ Accrued salaries and employee benefits 1,972 1,914 2,177 1,741 Accounts payable 2,944 2,752 2,977 3,030 Accrued expenses 3,063 3,230 3,131 3,278 Total current liabilities 8,008 7,918 9,627 9,013
Long-Term Debt, Less Current Portion1 13,733 14,909 15,243 16,617
Other Long-Term LiabilitiesDeferred income taxes 1,567 2,485 2,867 2,821 Pension, postretirement healthcare and other benefit obligations 6,227 4,487 2,187 5,095 Self-insurance accruals 1,314 1,494 1,784 1,899 Deferred lease obligations 400 531 551 531 Deferred gains, principally related to aircraft transactions 155 137 121 99 Other liabilities 771 518 534 571 Total other long-term liabilities 10,434 9,652 8,044 11,016
Commitments and Contingencies
Common Stockholders' InvestmentCommon stock $0.10 par value; 800 million shares auth. 32 32 32 32 Additional paid-in capital 2,892 3,005 3,117 3,231 Retained earnings 18,371 20,833 24,823 24,648 Accumulated other comprehensive (loss) income (169) (415) (578) (865) Treasury stock, at cost (7,342) (7,382) (7,978) (9,289) Total common stockholders' investment 13,784 16,073 19,416 17,757
$ 45,959 $ 48,552 $ 52,330 $ 54,403
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Current period financial results are unaudited. Differences may result due to rounding.
FY16 amounts were revised in FY17 as part of our adoption of an accounting standard that requires us to present debt issuance costs related to a recognized debt liability as a direct reduction from the carrying amount of that debt liability, rather than as an asset.
2 / Q4 FY19 Stat Book
Years ended May 31 .
In millions
FY 2016 FY 2017 FY 2018 FY 2019
OPERATING ACTIVITIESNet income $ 1,820 $ 2,997 $ 4,572 $ 540Adjustments to reconcile net income to cash provided by operating activities: Depreciation and amortization 2,631 2,995 3,095 3,353 Provision for uncollectible accounts 121 136 246 295 Deferred income taxes and other noncash items 31 909 (231) (233) Stock-based compensation 144 154 167 174 Retirement plans mark-to-market adjustment 1,498 (24) (10) 3,882 Gain from sale of business – – (85) (8) Gain from sale of investment – (35) – – Business realignment costs – – – 101
Goodwill and other asset impairment charges – – 380 – Changes in operating assets and liabilities, net of the effects of businesses acquired: Receivables (199) (556) (1,049) (873) Other current assets (234) 78 (135) (25) Pension and postretirement assets and liabilities, net (346) (1,688) (2,345) (909) Accounts payable and other operating liabilities 467 103 141 (571) Other, net (225) (139) (72) (113)
Cash provided by operating activities 5,708 4,930 4,674 5,613
INVESTING ACTIVITIES Capital expenditures (4,818) (5,116) (5,663) (5,490) Business acquisitions, net of cash acquired (4,618) – (179) (66) Proceeds from sale of business – – 123 – Proceeds from asset dispositions and other (10) 135 42 83
Cash used in investing activities (9,446) (4,981) (5,677) (5,473)
FINANCING ACTIVITIESPrincipal payments on debt (41) (82) (38) (1,436) Proceeds from debt issuances 6,519 1,190 1,480 2,463 Proceeds from stock issuances 183 337 327 101 Dividends paid (277) (426) (535) (683) Purchase of treasury stock (2,722) (509) (1,017) (1,480) Other, net (51) 18 10 (4)
Cash provided by financing activities 3,611 528 227 (1,039)
Effect of exchange rate changes on cash (102) (42) 72 (47)
CASH AND CASH EQUIVALENTSNet (decrease) increase in cash and cash equivalents (229) 435 (704) (946)Cash and cash equivalents at beginning of period 3,763 3,534 3,969 3,265
Cash and cash equivalents at end of period $ 3,534 $ 3,969 $ 3,265 $ 2,319
Current period financial results are unaudited. Differences may result due to rounding.
FY 2016 – FY 2019Condensed Consolidated Statements of Cash Flows
Dividends Paid Per Common Share $ 1.00 $ 1.60 $ 2.00 $ 2.60
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Current period financial results are unaudited. Differences may result due to rounding.
Includes a mark-to-market retirement plans loss of approximately $1.5 billion ($0.9 billion, net of tax, or $3.39 per diluted share) in FY16.
FY19 includes $320 million ($243 million, net of tax, or $0.91 per diluted share) of costs associated with our U.S.-based voluntary employee buyout program.
FY17 and FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
FY19 amounts include TNT Express integration expenses of $388 million ($314 million, net of tax, or $1.18 per diluted share). FY18 amounts include TNT Express integration expenses of $477 million ($372 million, net of tax, or $1.36 per diluted share). FY17 amounts include TNT Express integration expenses of $327 million ($245 million, net of tax, or $0.91 per diluted share). These expenses, which include restructuring charges, are included in the "Corporate, other and eliminations" and FedEx Express results. FY16 amount includes transaction, financing and integration planning expenses related to the TNT Express acquisition as well as TNT Express's immaterial operating results from the time of acquisition of $132 million ($125 million, net of tax, or $0.45 per diluted share). These expenses are predominantly included in the "Corporate, other and eliminations" results.
FedEx CorporationAnnual Consolidated Statements of Income
FY 2016 – FY 2019
FY17 amounts have been revised to reflect our reporting of TNT Express as part of the FedEx Express segment.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics, Inc. ("FedEx Logistics" (formerly FedEx Trade Networks, Inc.)). The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
In 2018, we incurred goodwill and other asset impairment charges of $380 million primarily for the impairment of goodwill ($374 million) related to FedEx Supply Chain, eliminating substantially all of the goodwill attributable to this reporting unit.
FY19 amounts also include $4 million ($0.02 per diluted share) of tax expense resulting in a decrease to the $1.15 billion provisional benefit recorded in 2018. FY18 amounts include a provisional benefit of $1.15 billion ($4.22 per diluted share) from the remeasurement of the company's net U.S. deferred tax liability for lower tax rates.
Return on Assets and Return on Equity for the current year-to-date presentation are calculated on a rolling four quarter basis.
Predominantly includes costs associated with outside service contracts (such as security, facility services and cargo handling), professional fees, insurance, uniforms and taxes and licenses.
FY19 amounts include $46 million ($43 million, net of tax, or $0.16 per diluted share) of costs incurred in connection with the settlement of a legal matter involving FedEx Ground. FY18 amounts include legal charges of $8 million ($6 million, net of tax, or $0.02 per diluted share) related to certain U.S. Customs and Border Protection matters involving FedEx Logistics. FY17 includes legal charges of $39 million ($24 million, net of tax, or $0.09 per diluted share) and $22 million ($13 million, net of tax, or $0.05 per diluted share). FY16 includes legal settlement expenses and certain expected losses (net of recognized insurance recovery) of $256 million ($158 million, net of tax, or $0.57 per diluted share) and $69 million ($43 million, net of tax, or $0.15 per diluted share).
Includes a mark-to-market retirement plans loss of approximately $4 billion ($3 billion, net of tax or $11.22 per diluted share) in FY19, gain of approximately $10 million ($9 million, net of tax, or $0.03 per diluted share) in FY18 and a gain of approximately $24 million ($6 million, net of tax, or $0.02 per diluted share) in FY17.
4 / Q4 FY19 Stat Book
FedEx CorporationQuarterly Consolidated Statements of Income
FY 2016 - FY 20171
Years ended May 31In millions, except EPS
FY 2016 FY 2017FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTH
Corporate, other and eliminations4,5,7 (43) (83) (329) (1,614) (82) (89) (92) (165) Total Operating Income (Loss) 1,144 1,137 864 (68) 1,152 1,055 912 1,447
Other Income (Expense):Interest, net (63) (74) (81) (97) (113) (119) (122) (125)Other retirement plan income (expense)3,8 – – – – 112 112 113 134Other, net 3 (8) (1) (16) (9) 30 (4) 4 Total Other Income (Expense)3,8 (60) (82) (82) (113) (10) 23 (13) 13
Income (Loss) Before Income Taxes 1,084 1,055 782 (181) 1,142 1,078 899 1,460
Provision for Income Taxes 392 364 275 (111) 427 378 337 440
Net Income (Loss) $ 692 $ 691 $ 507 ($70) $ 715 $ 700 $ 562 $ 1,020
Unaudited. Differences may result due to rounding.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY17 amounts have been revised to reflect our reporting of TNT Express as part of the FedEx Express segment.
Q4 FY16 amounts include a mark-to-market retirement plans loss of approximately $1.5 billion ($0.9 billion, net of tax, or $3.47 per diluted share).
Q4 FY17 amounts include legal charges of $39 million ($24 million, net of tax, or $0.09 per diluted share) and $22 million ($13 million, net of tax, or $0.05 per diluted share). Q4 FY16 amounts include legal settlement expenses of $11 million ($6 million, net of tax, or $0.02 per diluted share). Q3 FY16 amounts include legal settlement expenses and certain expected losses of $204 million ($126 million, net of tax, or $0.46 per diluted share) and $69 million ($43 million, net of tax, or $0.15 per diluted share). Q2 FY16 amounts include a legal reserve increase of $41 million ($25 million, net of tax, or $0.09 per diluted share).
Q4 FY17 amounts include a mark-to-market retirement plans gain of approximately $24 million ($6 million, net of tax, or $0.02 per diluted share).
Q4 FY17 amounts include TNT Express integration expenses of $124 million ($87 million, net of tax, or $0.32 per diluted share). Q3 FY17 amounts include TNT Express integration expenses of $78 million ($63 million, net of tax, or $0.23 per diluted share). Q2 FY17 amounts include TNT Express integration expenses of $58 million ($50 million, net of tax, or $0.18 per diluted share). Q1 FY17 amounts include TNT Express integration expenses of $68 million ($45 million, net of tax, or $0.17 per diluted share). These expenses, which include restructuring charges, are included in the "Corporate, other and eliminations" and FedEx Express results.
FY17 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
Q4 FY16 amounts include transaction, financing and integration planning expenses related to the TNT Express acquisition as well as TNT Express's immaterial operating results from the time of acquisition of $79 million ($91 million, with tax, or $0.34 per diluted share). Q3 FY16 amounts include expenses related to our pending acquisition of TNT Express of $25 million ($15 million, net of tax, or $0.06 per diluted share). Q2 FY16 amounts include expenses related to our pending acquisition of TNT Express of $19 million ($12 million, net of tax, or $0.04 per diluted share). These expenses are predominantly included in the "Corporate, other and eliminations" results.
Q4 FY19 Stat Book / 5
Years ended May 31In millions, except EPS
FY 20181
FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTHQUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
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Unaudited. Differences may result due to rounding.
Q2 FY19 amounts also include $4 million ($0.02 per diluted share) of tax expense resulting in a decrease to the $1.15 billion provisional benefit recorded in 2018. FY18 amounts include a provisional benefit of $1.15 billion ($4.22 per diluted share) from the remeasurement of the company's net U.S. deferred tax liability for lower tax rates.
Q2 FY19 amounts include $46 million ($46 million, net of tax, or $0.17 per diluted share) of charges related to certain expected losses and professional fees related to an agreement in principle to settle a litigation matter involving FedEx Ground. Q1 FY18 amounts include legal charges of $7 million ($5 million, net of tax, or $0.02 per diluted share).
Q4 FY19 amounts include TNT Express integration expenses of $84 million ($68 million, net of tax, or $0.26 per diluted share). Q3 FY19 amounts include TNT Express integration expenses of $69 million ($55 million, net of tax, or $0.21 per diluted share). Q2 FY19 amounts include TNT Express integration expenses of $114 million ($90 million, net of tax, or $0.34 per diluted share). Q1 FY19 amounts include TNT Express integration expenses of $121 million ($98 million, net of tax, or $0.36 per diluted share). Q4 FY18 amounts include TNT Express integration expenses of $136 million ($106 million, net of tax, or $0.39 per diluted share). Q3 FY18 amounts include TNT Express integration expenses of $106 million ($92 million, net of tax, or $0.34 per diluted share). Q2 FY18 amounts include TNT Express integration expenses of $122 million ($91 million, net of tax, or $0.33 per diluted share). Q1 FY18 amounts include TNT Express integration expenses of $112 million ($82 million, net of tax, or $0.30 per diluted share). These expenses, which include restructuring charges, are included in "Corporate, other and eliminations" and FedEx Express results.
FedEx CorporationQuarterly Consolidated Statements of Income
FY 2018 - FY 2019
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
Q4 FY19 includes $316 million ($240 million, net of tax, or $0.91 per diluted share) of costs associated with our U.S.-based voluntary employee buyout program. Q3 FY19 includes $4 million ($3 million, net of tax, or $0.01 per diluted share) of costs associated with our U.S.-based voluntary employee buyout program.
FY 2019
In 2018, we incurred goodwill and other asset impairment charges of $380 million ($379 million, net of tax, or $1.39 per diluted share) primarily for the impairment of goodwill ($374 million) related to FedEx Supply Chain, eliminating substantially all of the goodwill attributable to this reporting unit.
Q4 FY19 amounts include a mark-to-market retirement plans loss of approximately $4 billion ($3 billion, net of tax, or $11.33 per diluted share). Q4 FY18 amounts include a mark-to-market retirement plans gain of approximately $10 million ($9 million, net of tax, or $0.03 per diluted share).
6 / Q4 FY19 Stat Book
Years ended May 31
In millions
FY 2016 FY 2017 FY 2018 FY2019
By Asset Type1
Aircraft and related equipment $ 1,697 $ 1,808 $ 2,483 $ 2,202Package handling and ground support equipment 1,196 1,093 814 777Vehicles and trailers 723 895 954 982Information technology 471 594 600 751Facilities and other 731 726 812 778
Current period financial results are unaudited. Differences may result due to rounding.
FY17 and FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
FY 2016 – FY 2019Annual Consolidated Statements of Income
FedEx Express Segment
FY19 amounts include TNT Express integration expenses of $325 million. FY18 amounts include TNT Express integration expenses of $380 million. FY17 amounts include TNT Express integration expenses of $206 million. TNT Express integration expenses include restructuring charges.
FY16 amounts have been revised to conform to the current presentation of the FedEx Express segment.
International domestic revenues relate to our international intra-country operations.
FY17 amounts have been revised to reflect our reporting of TNT Express as part of the FedEx Express segment.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
8 / Q4 FY19 Stat Book
FedEx Express SegmentQuarterly Consolidated Statements of Income
FY 2016 – FY 20171
Years ended May 31In millions
FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTHQUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
Unaudited. Differences may result due to rounding.
FY17 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
FY16 amounts have been recast to conform to the current presentation of the FedEx Express segment.
International domestic revenues relate to our international intra-country operations.
FY 2016 FY 20172
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
Q4 FY17 amounts include TNT Express integration expenses of $83 million. Q3 FY17 amounts include TNT Express integration expenses of $53 million. Q2 FY17 amounts include TNT Express integration expenses of $28 million. Q1 FY17 amounts include TNT Express integration expenses of $48 million. TNT Express integration expenses include restructuring charges.
FY17 amounts have been revised to reflect our reporting of TNT Express as part of the FedEx Express segment.
Q4 FY19 Stat Book / 9
FedEx Express SegmentQuarterly Consolidated Statements of Income
FY 2018 - FY 2019Years ended May 31In millions
FY 20181
FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTHQUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
Unaudited. Differences may result due to rounding.
International domestic revenues relate to our international intra-country operations.
FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY 2019
Q4 FY19 amounts include TNT Express integration expenses of $68 million. Q3 FY19 amounts include TNT Express integration expenses of $56 million. Q2 FY19 amounts include TNT Express integration expenses of $99 million. Q1 FY19 amounts include TNT Express integration expenses of $102 million. Q4 FY18 amounts include TNT Express integration expenses of $110 million. Q3 FY18 amounts include TNT Express integration expenses of $86 million. Q2 FY18 amounts include TNT Express integration expenses of $96 million. Q1 FY18 amounts include TNT Express integration expenses of $88 million. TNT Express integration expenses include restructuring charges.
U.S. Overnight Box U.S. Overnight Envelope Total U.S. OvernightU.S. Deferred Total U.S. PackagesInternational PriorityInternational Economy Total International Export Packages
International Domestic1
Total Avg Daily Packages
Avg. Daily Freight Pounds (000s):
U.S.International PriorityInternational EconomyInternational Airfreight Total Avg Daily Freight Pounds
YIELDRevenue Per Package:
U.S. Overnight BoxU.S. Overnight Envelope Total U.S. OvernightU.S. Deferred Total U.S. PackagesInternational PriorityInternational Economy Total International Export Packages
International Domestic1
Total Composite Package Yield
Revenue Per Freight Pound:
U.S. International PriorityInternational EconomyInternational Airfreight Total Composite Freight Yield
U.S. Overnight BoxU.S. Overnight Envelope Total U.S. OvernightU.S. Deferred Total U.S. PackagesInternational PriorityInternational Economy Total International Export Packages
International Domestic1
Total Package Volume Growth
Revenue Growth:
U.S. Overnight Box U.S. Overnight Envelope Total U.S. OvernightU.S. Deferred Total U.S. PackagesInternational PriorityInternational Economy Total International Export Packages
International Domestic1
Total Package Revenue Growth
AVG POUNDS PER PACKAGE
AVG REVENUE PER PACKAGE LB.
OPERATING WEEKDAYS 64 63 63 64
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Unaudited. Differences may result due to rounding.
International domestic statistics relate to our international intra-country operations.
NOTE: Aircraft fleet delivery and retirement schedule is subject to change.
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Unaudited.
FY16 vehicle fleet totals do not include TNT Express and TNT owner operator vehicles.
As of May 31, 2019, B767F count includes 1 aircraft that is not currently in operation. As of May 31, 2019, we are committed to purchase 53 B767Fs.
As of May 31, 2019, B777F count includes 1 aircraft that is not currently in operations. As of May 31, 2019, we are committed to purchase 20 B777Fs.
As of May 31, 2019, we are committed to purchase 50 Cessna SkyCourier 408s.
As of May 31, 2019, we are committed to purchase 30 ATR-72 600Fs.
Leased aircraft disposition determined at expiration.
Leased aircraft will be returned at lease expiration.
FedEx ExpressAircraft and Vehicle Fleet Statistics
FY 2016 – FY 2025
To Be Delivered/(Retired) in FY May 31
On June 24, 2019, FedEx Express exercised options to purchase an additional 6 B767F aircraft to be delivered in FY22. "Aircraft To Be Delivered" statistics include these aircraft.
Unaudited. Differences may result due to rounding.
FY17 and FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
FedEx Ground SegmentAnnual Consolidated Statements of Income
FY 2016 – FY 2019
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
Q4 FY19 Stat Book / 17
FedEx Ground SegmentQuarterly Consolidated Statements of Income
FY 2016 - FY 20171
Years ended May 31In millions
FY 2016 FY 2017FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTH
Unaudited. Differences may result due to rounding.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY17 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
18 / Q4 FY19 Stat Book
FedEx Ground SegmentQuarterly Consolidated Statements of Income
FY 2018 - FY 2019
Years ended May 31In millions
FY 20181
FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTHQUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
Unaudited. Differences may result due to rounding.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19.
Unaudited. Differences may result due to rounding.
FY 2016 – FY 2019Annual Consolidated Statements of Income
FedEx Freight Segment
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY17 and FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
22 / Q4 FY19 Stat Book
FedEx Freight SegmentQuarterly Consolidated Statements of Income
FY 2016 - FY 20171
Years ended May 31In millions
FY 2016 FY 2017FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTH
Unaudited. Differences may result due to rounding.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY17 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19. FY16 amounts have not been revised to conform to the current year presentation.
Q4 FY19 Stat Book / 23
FedEx Freight SegmentQuarterly Consolidated Statements of Income
FY 2018 - FY 2019
Years ended May 31In millions
FY 20181
FIRST SECOND THIRD FOURTH FIRST SECOND THIRD FOURTHQUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER QUARTER
Unaudited. Differences may result due to rounding.
Effective in the fourth quarter of 2018, we realigned the specialty service companies FedEx Custom Critical and FedEx Supply Chain in a new organizational structure under FedEx Logistics. The FedEx Logistics operating results are included in "Corporate, other and eliminations." Prior quarter and year amounts and all operating statistics for the transportation segments have been revised to conform to the current year segmentation.
FY18 amounts have been recast to conform to the current year presentation reflecting new pension accounting rules in effect in FY19.
FY 2019
24 / Q4 FY19 Stat Book
FY 2016 FY 2017 FY 2018 FY 2019
Shipments Per DayPriority 67,743 70,658 74,519 78,383Economy 31,054 30,951 31,934 34,282 Total shipments per day 98,797 101,609 106,453 112,665
Weight Per Shipment (lbs)Priority 1,191 1,176 1,213 1,207Economy 1,145 1,129 1,134 1,064 Composite Weight per Shipment 1,177 1,161 1,190 1,164