FEDEX CORP PP&E Disclosure
| Net Book Value at May 31, | |||||||||||||||||
| Range | 2025 | 2024 | |||||||||||||||
| Wide-body aircraft and related equipment | 18 to 30 years | $ | 18,202 | $ | 17,936 | ||||||||||||
| Narrow-body and feeder aircraft and related equipment | 5 to 30 years | 1,750 | 1,849 | ||||||||||||||
| Package handling and ground support equipment | 3 to 15 years | 7,573 | 7,607 | ||||||||||||||
| Information technology | 3 to 7 years | 1,568 | 1,722 | ||||||||||||||
| Vehicles and trailers | 3 to 15 years | 4,075 | 4,053 | ||||||||||||||
| Facilities and other | 1 to 33 years | 8,474 | 8,324 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 21, 2025 | Showing above |
| 2024 | Jul 15, 2024 | |
| 2023 | Jul 17, 2023 | |
| 2022 | Jul 18, 2022 | |
| 2021 | Jul 19, 2021 | |
| 2020 | Jul 20, 2020 | |
| 2019 | Jul 16, 2019 | |
| 2018 | Jul 16, 2018 | |
| 2017 | Jul 17, 2017 | |
| 2016 | Jul 18, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.